Connect with us

PropTech

Simon Property Group joins SPAC craze

(Credit: Simon Property Group)

Simon Property Group (SPG) has formed a blank check company with a target value of $300 million. David Simon will serve as chairman of the SPAC, and his 33-year old son Eli will be its CEO. 

  • Real Estate Expertise > Tech Expertise: Recent SPACs have demonstrated that tech expertise is unnecessary for a real estate firm to raise… We believe there’s a dearth of acquisition vehicles focused on logistics / last-mile delivery, which would present an exciting opportunity to growth investors. 
  • Blank check, literally: SPG said it’s considering the following types of businesses: health and wellness, food and beverage retail, distribution, co-working, entertainment, sports, esports, hospitality, e-commerce, or traditional retail brands. [SEC+Nasdaq]

Continue Reading

Trending

Recent

To Top