Simon Property Group CEO David Simon Dies at 64 – Commercial Observer
David Simon, chairman and CEO of Simon Property Grouphas died at the age of 64, the corporate introduced Monday morning.
Simon, who for greater than three a long time led the Indianapolis-based actual property funding belief (REIT) that turned one of many nation’s largest house owners of malls and buying facilities, died March 22 after a protracted battle with most cancers.
“Our family is deeply grateful for the tremendous outpouring of love and support we have received from across the globe,” the Simon household stated in an announcement. “Our beloved husband, father, grandfather and brother poured his heart and soul into building Simon Property Group.”
The board of Simon Property Group — which owns or holds pursuits in additional than retail 235 properties within the US and within the fourth quarter of 2025 posted funds from operations of $1,328 billion — had ready a succession plan to comply with Simon’s demise. As a part of that, the board appointed Eli SimonSimon’s eldest son, because the REIT’s CEO and president. Eli Simon may also proceed in his present roles as chief working officer, director and government vp.
In addition, Larry Glasscockpreviously lead unbiased director at Simon Property Group, has been appointed as non-executive chairman of the board.
“On behalf of the entire board of directors, we extend our deepest and most heartfelt condolences to the Simon family,” Glasscock stated in an announcement.
Simon began his enterprise profession as an funding banker specializing in leveraged buyouts and M&A exercise. He took over the household enterprise as CEO at age 33.
“David Simon was, quite simply, the finest leader in the history of the retail real estate industry,” Glasscock stated. “His extraordinary intellect, his relentless drive for excellence, and his unmatched strategic vision transformed a privately held family business into an esteemed global institution — creating billions of dollars in value for shareholders along the way.”
Simon is survived by his spouse Jackie; their 5 kids: Eli, Rebecca, Hannah, Sam and Noah; and 7 grandchildren.
Isabelle Durso may be reached at (*64*)idurso@commercialobserver.com.(*64*)