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European Debt Crisis Not Bothering Simon Property Group

Simon Property Group makes a big acquisition in Europe, a place where there's not a whole lot of favorable Economic news right now.

By Ian Ritter | Updated on March 09, 2012

Investors might be skittish about what is happening in Europe, but that’s apparently not impacting Simon Property Group‘s view of the continent’s consumer health. The largest mall owner in the country agreed to drop $2 billion on a majority stake in Klepierre, which owns 271 centers in 13 European countries.

Simon didn’t just purchase overseas. The REIT also bought out its partner Farallon Capital Management, acquiring all of the 26 high-profile Mills assets the two purchased in 2007 for $1.8 billion.

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