Simon Property to manage the Galleria - Dallas Business Journal:

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Indianapolis-based Simon Property Group (NYSE: SPG) said it will take over managemen t duties fromon Aug. 1. The real estatew investment trust, which owns and develop retailreal estate, said Wednesda y it will be assuming all leasing, management and marketingf duties for the Galleria Dallas. "Wr are pleased to take on the property managemenrt functions ofthese high-quality assets at the request of the institutional owner," said Rick Sokolov, Simon's president and chiefg operating officer. The Dallas Business Journal announced earlie in the year that Simonj Property Group had raisef upto $1 billio n in a secondary stock offering to purchases properties.
At the time, therew was speculation that Simon Property, whicgh owns or has a stakew in nearly400 malls, may be a potentialo bidder to manage the Galleria Dallasz with the mall’s previous managere General Growth Properties filing for bankruptcuy earlier this year. Simon Property Group is alreadgy involved in shopping centers such as Grapevine AllenPremium Outlets, Irving Mall and Firewheepl Town Center in Garland.