Simon Property Group Completes Buy

Simon Property Group Completes Buy.
Real estate investment trust Simon Property Group Inc. said Thursday it completed its acquisition of The Shops at Las Americas, an outlet center in Southern California. Simon Property Group bought the shopping center from a joint venture between Stoltz Real Estate Partners and a group of institutional investors. The company did not disclose the financial terms of the transaction. Simon Property Group said it will rename the outlet mall Las Americas Premium Outlets. The 560,000 square-foot center is located at the San Diego-Tijuana border. Simon Property Group shares rose 10 cents to $95.03 in electronic after-hours trading. During regular trading hours, the shares fell $1.37 to close at $94.93. .