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Simon Property Group acquires The Shops at Las Americas

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Simon Property Group Inc. (NYSE: SPG), a nationwide owner, developer and manager of retail real estate, announced it has completed the acquisition of The Shops at Las Americas, an outlet center in San Ysidro, from a joint venture between Stoltz Real Estate Partners and institutional investors advised by Pacific Coast Capital.

The center will be renamed Las Americas Premium Outlets and will be managed and operated by Simon's Chelsea outlet subsidiary. The 560,000-square-foot outlet center has 125 stores and is located at the San Diego-Tijuana border off Interstate 5 in San Diego County.

"The Shops at Las Americas is one of the most successful outlet centers in its market and -- in combination with Desert Hills, Camarillo and Carlsbad Premium Outlets -- solidifies our presence in Southern California," said John R. Klein, co-president of Chelsea.

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