Overview

• Simon posted second-quarter FFO of $3.05 per share, up from $2.93 a year earlier, driven by robust leasing demand out of tight supply.
• The REIT raised its 2025 FFO guidance to a range of $12.45–$12.65 per share, up from a previous floor of $12.40.
• Portfolio occupancy reached 96%, a 0.4 percentage-point increase year-over-year, while base minimum rent rose to $58.70 per square foot.
• Simon acquired Swire Properties’ majority stake in Miami’s Brickell City Center for $512 million, securing full ownership of the mixed-use retail center.
• The company warned that tariff-driven cost volatility remains a headwind for leasing volumes but expects import pressures to stabilize by 2026.