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The reasons for the long vacancy were the lack of financial interest in condos and vacant office space downtown in the 1990s, combined with a complex ownership situation in which the bank owned part of the land and several heirs to an earlier property owner owned the rest. It took lengthy negotiation to get the land ownership resolved.
David E. Simon (born 1961/1962) is an American billionaire real estate developer, chairman and chief executive officer (CEO) of Indianapolis-based Simon Property Group, an S&P 100 company and the largest U.S. publicly traded commercial real estate company.
The new property owner began neglecting not only the property taxes on Washington Square Mall but also the upkeep of the mall as well. [7] Management had trouble keeping up with garbage collection, maintenance, and other basic needs of the mall when Kohan stopped payments to Washington Square.
Simon Property Group, Inc. is an American real estate investment trust that invests in shopping malls, outlet centers, and community/lifestyle centers. It is the largest owner of shopping malls in the United States and is headquartered in Indianapolis, Indiana. Worldwide, it owns interests in 232 properties [3] as of 2021.
He resides in Indianapolis, Indiana. He was educated at the City College of New York and is the owner of the Indiana Pacers and Indiana Fever, [3] and chairman emeritus of the shopping mall developer Simon Property Group. In 2010, he purchased Kirkus Reviews. [4] Forbes estimated his net worth to be around US$4.7 billion in early 2024. [5]
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