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Simon Property Group — Nov 3, 2025 release

Fiscal 2025 third-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001104659-25-105545
Open on SEC.gov ↗
Showing in the filing
Development Activity Summary - The Mills Redevelopments, Forecasted Investment (our share, in thousands)
“$24,916”
Period
FY2025
Measure
Company-defined measure
Source
Guidance table
All guidance in this release · 29
Quarterly common stock dividend for Q4 FY2025
“$2.20”
Quarterly dividend on 8 3/8% Series J Cumula… for Q4 FY2025
“$1.046875 per share”
Quarterly dividend on 8 3/8% Series J Cumula…
“$1.046875 per share”
Estimated Real Estate FFO per diluted share for FY2025
“$12.60 to $12.70”
Real Estate FFO for FY2025
“$12.60 to $12.70 per diluted share”
Estimated Real Estate FFO per diluted share
“$12.60”
Estimated net income attributable to common …
“$6.74”
Development Activity Summary - Malls Redevel… for Q4 FY2025
“$116,921”
Development Activity Summary - Malls Redevel… for FY2025
“$369,615”
Development Activity Summary - Malls Redevel… for FY2026
“$392,111”
Development Activity Summary - Malls Redevel… for FY2025
“$761,726”
Development Activity Summary - Premium Outle… for Q4 FY2025
“$1,380”
Development Activity Summary - Premium Outle… for FY2025
“$13,163”
Development Activity Summary - Premium Outle… for Q4 FY2025
“$3,095”
Development Activity Summary - Premium Outle… for FY2025
“$7,331”
Development Activity Summary - Premium Outle… for FY2026
“$6,191”
Development Activity Summary - Premium Outle… for FY2025
“$13,522”
Development Activity Summary - The Mills Red… for Q4 FY2025
“$10,218”
Development Activity Summary - The Mills Red… for FY2025
“$24,916”
Development Activity Summary - The Mills Red… for FY2026
“$11,472”
Development Activity Summary - The Mills Red… for FY2025
“$36,388”
Development Activity Summary - Total Investm… for Q4 FY2025
“$131,614”
Development Activity Summary - Total Investm… for FY2025
“$415,025”
Development Activity Summary - Total Investm… for FY2026
“$409,774”
Development Activity Summary - Total Investm… for FY2025
“$824,799”
Development Activity Summary - Total Net Cas… for Q4 FY2025
“$128,830”
Development Activity Summary - Total Net Cas… for FY2025
“$390,103”
Development Activity Summary - Total Net Cas… for FY2026
“$348,112”
Development Activity Summary - Total Net Cas… for FY2025
“$738,215”
Exhibit 99.1 · the passage around this item
… earlier in the release
​   ​   3Q 2025 SUPPLEMENTAL ​ ​ ​ ​ 23   ​ TABLE OF CONTENTS ​   DEVELOPMENT ACTIVITY SUMMARY (1) As of September 30, 2025 (in thousands, except percent) ​     ​ ​ PLATFORM    PROJECT TYPE ​ ​ ​ OUR SHARE OF NET INVESTMENT ​ ​ ​ EXPECTED STABILIZED RATE OF RETURN ​ ​ ​ ACTUAL 2025 INVESTMENT THRU Q3 2025 ​ ​ ​ FORECASTED INVESTMENT Q4 2025 ​ ​ ​ FORECASTED INVESTMENT FY 2025 ​ ​ ​ FORECASTED INVESTMENT FY 2026 ​ ​ ​ FORECASTED TOTAL INVESTMENT FY 2025 - 2026 ​ ​ ​ ​ Malls ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Redevelopments ​ ​ ​ ​ $ 1,144,073 ​ ​ ​ ​ ​ ​ ​ 9 % ​ ​ ​ ​ ​ $ 252,694 ​ ​ ​ ​ ​ ​ $ 116,921 ​ ​ ​ ​ ​ ​ $ 369,615 ​ ​ ​ ​ ​ ​ $ 392,111 ​ ​ ​ ​ ​ ​ $ 761,726 ​ ​ ​ ​ ​ ​ Premium Outlets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ New Developments ​ ​ ​ ​ $ 55,851 ​ ​ ​ ​ ​ ​ ​ 11 % ​ ​ ​ ​ ​ $ 11,783 ​ ​ ​ ​ ​ ​ $ 1,380 ​ ​ ​ ​ ​ ​ $ 13,163 ​ ​ ​ ​ ​ ​ $ — ​ ​ ​ ​ ​ ​ $ 13,163 ​ ​ ​ ​ ​ ​ Redevelopments ​ ​ ​ ​ $ 13,836 ​ ​ ​ ​ ​ ​ ​ 14 % ​ ​ ​ ​ ​ $ 4,236 ​ ​ ​ ​ ​ ​ $ 3,095 ​ ​ ​ ​ ​ ​ $ 7,331 ​ ​ ​ ​ ​ ​ $ 6,191 ​ ​ ​ ​ ​ ​ $ 13,522 ​ ​ ​ ​ ​ ​ The Mills ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Redevelopments ​ ​ ​ ​ $ 40,318 ​ ​ ​ ​ ​ ​ ​ 15 % ​ ​ ​ ​ ​ $ 14,698 ​ ​ ​ ​ ​ ​ $ 10,218 ​ ​ ​ ​ ​ ​ $ 24,916 ​ ​ ​ ​ ​ ​ $ 11,472 ​ ​ ​ ​ ​ ​ $ 36,388 ​ ​ ​ ​ ​ ​ Total Investment (1) ​ ​ ​ ​ $ 1,254,078 ​ ​ ​ ​ ​ ​ ​ 9 % ​ ​ ​ ​ ​ $ 283,411 ​ ​ ​ ​ ​ ​ $ 131,614 ​ ​ ​ ​ ​ ​ $ 415,025 ​ ​ ​ ​ ​ ​ $ 409,774 ​ ​ ​ ​ ​ ​ $ 824,799 ​ ​ ​ ​ ​ ​ Less funding from: Construction Loans, International JV Cash on hand, etc. ​ ​ ​ ​ $ (153,229 ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ (22,138 ) ​ ​ ​ ​ ​ ​ $ (2,784 ) ​ ​ ​ ​ ​ ​ $ (24,922 ) ​ ​ ​ ​ ​ ​ $ (61,662 ) ​ ​ ​ ​ ​ ​ $ (86,584 ) ​ ​ ​ ​ ​ ​ Total Net Cash Investment ​ ​ ​ ​ $ 1,100,849 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 261,273 ​ ​ ​ ​ ​ ​ $ 128,830 ​ ​ ​ ​ ​ ​ $ 390,103 ​ ​ ​ ​ ​ ​ $ 348,112 ​ ​ ​ ​ ​ ​ $ 738,215 ​ ​ ​ ​ Notes: (1) Does not include TRG. ​   ​   3Q 2025 SUPPLEMENTAL
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.