Jean-Marc Jestin appointed to the role of Chairman of the Executive Board, Klépierre

Paris, 2016-Nov-09 — /EPR Retail News/ — The Supervisory Board, as part of its succession plan for Klépierre management, held a meeting on November 7, 2016 and unanimously decided to promote Jean-Marc Jestin, current member of the Executive Board, to the role of Chairman of the Executive Board, with effect from the date hereof, thus replacing Laurent Morel. The transition is part of the Supervisory Board’s succession plan that included Jean-Marc Jestin’s appointment as Chief Operating Officer and member of the Executive Board of Klépierre in 2012.

“This is the right time for Jean-Marc Jestin to become Klépierre’s next Chairman of the Executive Board. We have selected a highly qualified leader at a time when Klépierre is in a very strong financial and operational position,” said Mr. David Simon, Chairman of the Klépierre Supervisory Board.

“Since joining Klépierre in 2012, Jean-Marc has been an outstanding Chief Operating Officer,” Mr. Simon continued. “He has an in-depth knowledge of the organization and his tenure has yielded excellent operating improvements and financial results across the company, including being instrumental in leading the highly successful acquisition and integration of Corio. His leadership, combined with his vision and energy, will help set the tone for the future of Klépierre. The entire Supervisory Board is pleased that its succession planning has produced an executive of Jean-Marc’s caliber who is ready to be the company’s Chairman of the Executive Board and lead the implementation of our going-forward strategies.”

The Supervisory Board wishes to thank Laurent Morel for his role in the development and growth of Klépierre, making it today one of the leaders of the industry in Continental Europe. “He has been a trusted and valued leader of Klépierre, and we wish him well in his future endeavors,” said Mr. Simon.

“After these very active and transformational years for Klépierre, I am extremely proud of the company’s achievements and I am sure it will be in good hands to continue on its successful track,” said Laurent Morel.

“I am excited and honored to become Chairman of the Executive Board,” said Jean-Marc Jestin. “We have an incredibly talented management team and we will continue to be laser-focused on maximizing opportunities for the company and delivering high quality shopping experience for our customers and tenants as well as robust and sustainable financial performances for the benefit of our shareholders.”

The Group will continue to be under the management of an Executive Board, which will now be composed of Jean-Marc Jestin and Jean-Michel Gault, Deputy CEO.

ABOUT KLÉPIERRE

A leading pure play shopping center property company in Europe, Klépierre combines development, rental, property and asset management skills. The company’s portfolio is valued at EUR 22.6 billion at June 30, 2016 and comprises large shopping centers in 16 countries in Continental Europe which altogether welcome 1.2 billion visitors per year. Klépierre holds a controlling stake in Steen & Strøm (56.1%), Scandinavia’s number one shopping center owner and manager. Klépierre is a French REIT (SIIC) listed on Euronext Paris and included in the CAC 40, EPRA Euro Zone and GPR 250 indexes. It is also included in ethical indexes, such as DJSI World and Europe, FTSE4Good, STOXX® Global ESG Leaders, Euronext Vigeo France 20 and World 120, and Euronext Low Carbon 100 Europe, and is ranked as a Green Star by GRESB (Global Real Estate Sustainability Benchmark). These distinctions underscore the Group’s commitment to a proactive sustainable development policy. For more information, visit our website: www.klepierre.com

AGENDA:

February 6, 2017 Full year earnings (press release after market close)

INVESTOR RELATIONS CONTACTS:

Julien GOUBAULT
+ 33 (0)1 40 67 51 85
julien.goubault@klepierre.com

Vanessa FRICANO
+ 33 (0)1 40 67 52 24
vanessa.fricano@klepierre.com

MEDIA CONTACTS:

Lorie LICHTLEN
Burson-Marsteller i&e
+33 (0)1 56 03 13 01
lorie.lichtlen@bm.com

Camille PETIT
Burson-Marsteller i&e
+33 (0)1 56 03 12 98
camille.petit@bm.com

This press release is available on Klépierre’s website: www.klepierre.com

Source: Klépierre

Authentic Brands Group, General Growth Properties and Simon Property Group finalizes acquisition of Aéropostale

NEW YORK & CHICAGO & INDIANAPOLIS, 2016-Sep-18 — /EPR Retail News/ — Authentic Brands Group (ABG), General Growth Properties (GGP) and Simon Property Group (SPG) finalizes the acquisition of the global trend-focused apparel and accessories brand, Aéropostale. The consortium includes ABG, the owner of a global portfolio of fashion, sports and entertainment brands, GGP and SPG, two of the largest retail real estate companies in the world.

Aéropostale offers young women, men and kids a focused selection of active-oriented fashion and fashion basic merchandise at compelling values. The brand will continue to be available in over 700 retail doors around the world; more than 400 stores in the U.S. and Canada and approximately 300 doors across Latin America, Europe, the Middle East and Southeast Asia.

Through ABG’s proven know-how in brand building and licensing, combined with the expertise of retail real estate specialists, GGP and SPG, there is now a strong foundation in place for long term performance and growth.

“We are pleased to be part of this consortium that has saved thousands of jobs and preserved a legendary American brand,” said David Simon, Chairman and CEO, Simon Property Group. “We are encouraged by the tremendous amount of support we have received from employees, vendors and other landlords.”

“This consortium brings a new approach to brand development and Aéropostale brings another facet to ABG’s fashion portfolio,” said Jamie Salter, Chairman and CEO, ABG. “The purchase of Aéropostale propels the retail revenue driven by ABG’s brands to over $4.5 billion USD in retail sales worldwide. We look forward to working closely with our new partners, General Growth Properties and Simon Property Group to continue to grow the Aéropostale brand on a global scale.”

“Aéropostale has significant brand equity and the go-forward portfolio of stores generates more than $1 billion in global retail sales, over $800 million of which is from the U.S.,” said Sandeep Mathrani, CEO, GGP. “The entity is financially secure and well capitalized and we are very pleased that thousands of jobs will be preserved.”

About Authentic Brands Group, LLC

Authentic Brands Group is a brand development company, which builds long-term value through the ownership of intellectual property associated with prominent fashion, sports, celebrity and entertainment brands. Headquartered in New York City, ABG builds brand equity by partnering with best-in-class licensees and retailers. ABG’s global portfolio of world-renowned brands includes Marilyn Monroe®, Mini Marilyn®, Elvis Presley®, Muhammad Ali®, Shaquille O’Neal®, Michael Jackson® *managed brand*, Juicy Couture®, Aéropostale®, Jones New York®, Judith Leiber®, Frederick’s of Hollywood®, Adrienne Vittadini®, Taryn Rose®, Misook®, Hickey Freeman®, Hart Schaffner Marx®, Bobby Jones®, Spyder®, Tretorn®, Tapout®, Prince®, Airwalk®, Vision Street Wear®, and Hind®. www.abg-nyc.com

About General Growth Properties, Inc.

General Growth Properties, Inc. is an S&P 500 company focused exclusively on owning, managing, leasing, and redeveloping high-quality retail properties throughout the United States. GGP is headquartered in Chicago, Illinois, and publicly traded on the NYSE under the symbol GGP.

About Simon Property Group

Simon is a global leader in retail real estate ownership, management and development and an S&P100 company (Simon Property Group, NYSE:SPG). Our industry-leading retail properties and investments across North America, Europe and Asia provide shopping experiences for millions of consumers every day and generate billions in annual retail sales. For more information, visit simon.com.

CONTACT:

Authentic Brands Group
Haley Steinberg
PR and Communications
(646) 612-7439
hsteinberg@abg-nyc.com

General Growth Properties
Kevin Berry
SVP Investor & Public Relations
(312) 960-5529
kevin.berry@ggp.com

Simon Property Group
Tom Ward
SVP Investor Relations
(317) 685-7330
tom.ward@simon.com

Source: General Growth Properties

Simon Property Group’s Chairman and CEO David Simon will be keynote speaker for 2016 ICSC European Conference

LONDON, 2015-11-26 — /EPR Retail News/ — The International Council of Shopping Centers (ICSC) has announced David Simon, Chairman of the Board and Chief Executive Officer at Simon Property Group, Inc., as keynote speaker for the 2016 ICSC European Conference. The annual retail real estate conference will be held on 18-19 April 2016 in Milan, Italy.

The theme for next year’s program is “Authenticity: Differentiating Retail,” which will explore how stakeholders can differentiate themselves from the rising competition and build an authentic, one-of-a-kind brand. During the keynote address, David Simon will be interviewed and face questions from ICSC members from all over the world.

David Simon joins an engaging mix of speakers including Italian Vice-Minister for Economic Development Dr Carlo Calenda, Julia Calabrese, CEO, McArthurGlen, Concetto Marletta, Founder of Indispensable Solutions and many other top industry professionals.

ICSC revealed the programme and a list of top speakers at MAPIC where Jury Chair, João Correia Sampaio also announced the finalists of the 2016 ICSC European Shopping Centre Awards. ICSC’s awards are the most prestigious awards in the industry and recognize Europe’s most outstanding and new refurbished retail properties.

“The 2016 European Conference will feature an unprecedented lineup of speakers and programming” said ICSC’s Executive Vice-President and Chief Global Officer, Mike Morrissey. “We are thrilled to once again present this important retail real estate event for owners, developers, investors, retailers and other professionals.”

Learn more about the event and register on ICSC’s European Conference website.

Join the conversation on Twitter at @ICSCEurope and use #EuroConf.

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For more information about ICSC European activities please visit www.icsc.org/europe.

Media contact:

Intissar Guettou
+ 44 20 7976 3111
Iguettou@icsc.org

SOURCE: International Council of Shopping Centers

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Simon Property Group’s Chairman and CEO David Simon will be keynote speaker for 2016 ICSC European Conference

Simon Property Group’s Chairman and CEO David Simon will be keynote speaker for 2016 ICSC European Conference

HBS Global Properties acquires 41 GALERIA Kaufhof properties from Simon Property Group Inc. for €2.6 billion

Portfolio totals 83 properties with an Asset Value of $4.8 billion(1)

NEW YORK, LOS ANGELES & COLOGNE, Germany, 2015-10-5 — /EPR Retail News/ — HBS Global Properties, the real estate joint venture between Hudson’s Bay Company (“HBC”) (TSX: HBC) and Simon Property Group Inc. (“Simon”) (NYSE: SPG), is pleased to announce the acquisition of 41 GALERIA Kaufhof properties (the “Acquisition”) in a transaction valued at €2.6 billion (US$3.0 billion)(1)(2). Unless otherwise indicated, all amounts are expressed in US dollars.

With the Acquisition, HBS Global Properties now owns an international property portfolio of 83 marquee retail locations across the United States and Germany, including flagship department stores in Berlin, Beverly Hills, Cologne, Dusseldorf, Frankfurt, the greater New York area, as well as properties in other metropolitan and suburban centers. These properties generate annual cash rents of $274 million(1), valuing the portfolio at approximately $4.8 billion based on a blended cap rate of 5.75%.

“With the close of the Acquisition, HBS Global Properties is taking an important step forward in its next chapter of growth,” stated Richard Baker, Chairman, of HBS Global Properties. “This joint venture will benefit from a strong foundation of HBC properties, now including GALERIA Kaufhof, whose tremendous value has been recognized by our best-in-class partner.”

“In HBC, we have found a unique partner with a proven track record of creating value from retail properties, as well as a strong portfolio of banners that serve as attractive tenants for a range of retail opportunities,” said David Simon, Chairman and Chief Executive Officer of Simon. “As the Acquisition demonstrates, we continue to leverage our combined expertise to significantly expand and diversify the joint venture assets and increase its value for the benefit of investors.”

HBS Global Properties has established a dedicated management team to focus on overseeing the properties and growing the portfolio, with support from HBC and Simon. This team is headed by Lee Neibart, who has more than 40 years of real estate experience. Lee will lead an executive team comprised of Patrick Walmsley, Chief Investment Officer – USA, and Lutz Rupprecht, Chief Financial Officer and Managing Director – Germany, with the support of additional team members in both Los Angeles and Cologne.

“In a relatively short period of time, we have built a fantastic portfolio of properties,” said Lee Neibart, Chief Executive Officer of HBS Global Properties, “I am excited to work with our team in North America and Europe to continue to grow our portfolio through accretive acquisitions.”

In addition to pursuing attractive credit tenant, net-leased and multi-tenanted retail buildings in the United States and Europe, HBS Global Properties will have a mandate to explore similar international opportunities. The entity is structured to facilitate an IPO or other monetization of the joint venture at a future date.

(1)    Assumes a EURUSD exchange rate of 1.13
(2)    Represents value of properties after all transactions are completed, including the post-closing acquisition of certain real estate properties and the minority interest, expected to occur within 6 months.

Media Contact

HBS Global Properties

Andrew Blecher
Phone: (212) 391 3179
Email: andrew.blecher@hbc.com