Bernard Winograd, a retired Prudential Financial Inc. executive who earlier helped devise the initial public offering for luxury-mall developer Taubman Centers Inc. in 1992, a milestone in the growth of real estate investment trusts, has died. He was 63.
Simon Property Group Inc. named its planned spinoff of strip shopping centers and smaller enclosed malls Washington Prime Group Inc. and hired Mark Ordan to be the new company’s chief executive officer.
Annie Ierardi works from home in a Nashville, Tennessee, building that’s adding apartments as waves of young workers flock to a city flush with jobs, music and ambition. Amid noise and disruption, she can’t imagine leaving.
Simon Property Group Inc., the world’s largest mall owner, bought a land parcel on New York’s Long Island from rival shopping-center landlord Taubman Centers Inc., which failed to develop the property.
Bill Ackman, the activist hedge-fund manager, said he sold his firm’s General Growth Properties Inc. shares because the expected returns on the investment after management fees wouldn’t be high enough for his investors.