Simon Property Group, Inc. (SPG) said it completed its transaction with Prime Outlets Acquisition Company and certain of its affiliated entities, and that, in connection with the transaction, Simon has signed a proposed Consent Agreement with the Staff of the Federal Trade Commission. The Prime transaction adds 21 outlet center properties to Simon's portfolio, including Prime's Barceloneta outlet center in Puerto Rico which Simon acquired in May of this year.
Simon previously announced that it had amended its agreement so that the owners of Prime would retain Prime Outlets-Saint Augustine as well as the Livermore and Grand Prairie development projects.
The completed transaction reflecting the amended agreement and including the Barceloneta outlet center is valued at approximately $2.3 billion, including the assumption of approximately $1.55 billion of Prime's existing indebtedness and preferred stock. Simon paid equity consideration to Prime's owners, generally comprised of 80% cash and 20% in SPG common operating partnership units.
For comments and feedback contact: editorial@rttnews.com
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.