Simon to get three Gulf Coast malls with Taubman deal

Simon Property Group’s pending $3.6 billion acquisition of a majority stake in the entity that controls Taubman Centers’ mall holdings will add three upscale Gulf Coast retail hubs to its vast portfolio.

The nation’s largest mall owner and operator is slated to take control of Tampa’s International Plaza, a property Taubman owns with Teachers Insurance and Annuity Association; the Mall at University Town Center, which is owned through a joint venture with local Benderson Development Co.; and Waterside Shops, in Naples.