FTC Puts Conditions on Simon Property Group’s Acquisition of Prime Outlets

WASHINGTON, D.C. – November 11, 2010 – (RealEstateRama) — The Federal Trade Commission is requiring Simon Property Group, Inc. to divest property and modify tenant leases as part of a settlement designed to preserve outlet center competition in parts of southwest Ohio, Chicago, Illinois, and Orlando, Florida, in the wake of Simon’s purchase of Prime Outlets Acquisition Company, LLC.