Simon Acquires Remaining Interest in Taubman Realty Group

Paul, Weiss advised Simon Property Group, a real estate investment trust that owns shopping, dining, entertainment and mixed-use destinations, in its acquisition of the remaining 12% interest in The Taubman Realty Group Limited Partnership that it did not own, in exchange for 5.06 million limited partnership units in Simon Property Group L.P. Taubman Realty is an owner, manager and lessor of regional, super-regional and outlet malls in the U.S. and Asia. The completed transaction completes a process that began in 2020, when Simon acquired an 80% stake in Taubman for $3.6 billion. Paul, Weiss also advised on that transaction.

The Paul, Weiss team was led by corporate partners Michael Vogel and Robert Schumer, and included partner Sean Fitzpatrick; executive compensation partner Lawrence Witdorchic; and tax partner Scott Sontag.