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Taubman

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Taubman Names New Chief Financial Officer

by Katie Lee

Bloomfield Hills, Mich. — The Taubman Company LLC’s executive vice president and chief financial officer, Simon Leopold, will leave the company effective January 31. Taubman’s vice president, capital markets and treasurer, Benjamin Meeker, will be promoted to senior vice president, CFO and treasurer. Meeker will report to Taubman’s chairman, president and CEO, Robert Taubman. Leopold will remain an advisor to the company to assist with the transition. “Since joining the company in 2012, Simon Leopold has had a very positive impact on our business,” says Taubman. “During his tenure, he …

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Simon Property Group to Acquire Majority Interest in Taubman Centers for $3.6 Billion

by Katie Lee

Indianapolis — Simon Property Group has agreed to acquire an 80% interest in Taubman Centers Inc., a Michigan-based retail owner-operator, for approximately $3.6 billion. Under the terms of the agreement, Simon is buying all of Taubman’s common stock at a price of $52.20 per share in an all-cash deal. The transaction is expected to close in mid-2020. Taubman’s existing debt, which Simon will assume, was factored into the price, which represents a capitalization rate of 6.2%. Taubman will continue to operate as a separate entity. Taubman’s portfolio spans 26 super-regional …

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Schutz Opens First New Jersey Location at The Mall at Short Hills

by Katie Lee

Short Hills, N.J. — Schutz, the popular Brazilian shoe brand since 1995, has opened a new store at The Mall at Short Hills in Short Hills. Cushman & Wakefield’s Manhattan-based retail team — headed by Laura Pomerantz, Betty Ende and Heather Reihs Keller — represents Shutz exclusively in North America and arranged the 1,800-square-foot, long term lease. Schutz is located on the second floor of the mall, which is owned by the Taubman Company. “We were so happy that the Pomerantz Team brought Schutz to The Mall at Short Hills, …

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