Simon Property's Outlet Mall Empire Sets Up Shop In Brazil

Law360, New York (April 10, 2012, 6:37 PM EDT) -- Simon Property Group Inc. has teamed up with BR Malls Participacoes SA, Latin America's largest retail real estate company, to jointly develop and own a portfolio of outlet centers in Brazil, the parties announced Tuesday.

The 50-50 joint venture will create a Brazilian company that will construct and manage outlet malls across the country, the first of which is expected to open in Sao Paulo in 2013. The venture will expand Simon's Premium Outlets empire — which covers North America, Asia and Puerto Rico — to...
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