David Simon, chairman and CEO of Simon Property Group, has died at the age of 64, the corporate introduced Monday morning.
Simon, who for greater than three many years led the Indianapolis-based actual property funding belief (REIT) that turned one of many nation’s largest homeowners of malls and procuring facilities, died March 22 after an extended battle with most cancers.
“Our family is deeply grateful for the tremendous outpouring of love and support we have received from across the globe,” the Simon household mentioned in an announcement. “Our beloved husband, father, grandfather and brother poured his heart and soul into building Simon Property Group.”
The board of Simon Property Group — which owns or holds pursuits in additional than retail 235 properties within the U.S. and within the fourth quarter of 2025 posted funds from operations of $1.328 billion — had ready a succession plan to observe Simon’s loss of life. As a part of that, the board appointed Eli Simon, Simon’s eldest son, because the REIT’s CEO and president. Eli Simon may also proceed in his present roles as chief working officer, director and government vp.
In addition, Larry Glasscock, previously lead impartial director at Simon Property Group, has been appointed as non-executive chairman of the board.
“On behalf of the entire board of directors, we extend our deepest and most heartfelt condolences to the Simon family,” Glasscock mentioned in an announcement.
Simon began his enterprise profession as an funding banker specializing in leveraged buyouts and M&A exercise. He took over the household enterprise as CEO at age 33.
“David Simon was, quite simply, the finest leader in the history of the retail real estate industry,” Glasscock mentioned. “His extraordinary intellect, his relentless drive for excellence, and his unmatched strategic vision transformed a privately held family business into an esteemed global institution — creating billions of dollars in value for shareholders along the way.”
Simon is survived by his spouse Jackie; their 5 youngsters: Eli, Rebecca, Hannah, Sam and Noah; and 7 grandchildren.
Isabelle Durso might be reached at idurso@commercialobserver.com.
