Duff & Phelps Provided a Solvency Opinion to Simon Property Group, Inc. for its Spin-off of Washington Prime Group Inc.
Simon Property Group Inc. completed the spin-off on Washington Prime Group Inc. The transaction involved the spin-off of certain Simon Property Group Inc. retail strip centers and regional malls into a newly formed publically traded REIT.
Duff & Phelps' Role
Duff & Phelps was engaged as independent financial advisor to the Boards of Directors of Simon Property Group Inc. and Washington Prime Group Inc. in connection with the spin-off and rendered a solvency opinion.
About Simon Property Group Inc.
Simon Property Group Inc. is a publicly traded real estate investment trust (“REIT”) that is primarily invested in premium, upscale, malls and outlet centers across North American and internationally. Its current portfolio consists of approximately 250 properties which generate revenues in excess of $5 billion.
About Washington Prime Group Inc.
Washington Prime Group Inc. is a publicly traded REIT that holds interests in 98 properties spun out of Simon Property Group Inc. as of May 2014. The properties consist of strip centers and smaller, regional, enclosed malls in North America.