Indianapolis-based Simon Property Group Inc. (NYSE: SPG) has announced new investments in what it calls "best-in-class" operators in the hospitality, health and wellness, dining, and entertainment sectors. The company says the investments complement its core real estate by bringing new businesses to markets throughout the country.
The consumer brands Simon has invested in include healthy lifestyle brand Life Time, dining and entertainment brand Pinstripes, Allied Esports, Sports Illustrated, and Major Food Group’s popular casual Italian restaurant, PARM. Simon says it has also completed a recent minority investment in Soho House, the global membership subscription business with Houses in London, mainland Europe, Asia and America.
"Our company is grounded in real estate, but these investments demonstrate that we are in the process of creating an eclectic, consumer-centric platform," David Simon, chief executive officer of Simon Property Group, said in a news release. "The world is moving fast and we’re evolving to meet the ever-changing needs of our consumers, retailers and brand partners. Reimagining our properties as synergistic eco-systems of complementary experiences will offer customers a broad array of shopping, dining and entertainment offerings that cannot be found elsewhere."
Financial terms of the investments were not provided.
The announcement comes less than a month after Simon detailed its $280 million investment in a new, multi-platform digital value shopping venture with Boston-based Rue Gilt Groupe.