Simon Property Group Wins Top Real Estate Industry Award For Energy Efficiency
- Second Consecutive Year that Nation's Leading Retail Developer Takes Gold
INDIANAPOLIS, Nov. 19 /PRNewswire-FirstCall/ -- For the second consecutive
year Simon Property Group, Inc. (NYSE: SPG), the country's largest owner,
developer and manager of high quality retail real estate, has been selected to
receive the National Association of Real Estate Investment Trusts (NAREIT)
Leader in the Light Gold Award. The award was presented to Simon officials on
Friday at NAREIT's Annual Convention held in Las Vegas.
NAREIT developed the Leader in the Light award in collaboration with the
United States Environmental Protection Agency (EPA) to honor its member
companies that have demonstrated superior and sustained energy use practices.
The award, based on a review by a panel of experts from the field of academia,
business/finance and the EPA, recognizes company-wide operations which
generate substantially improved energy efficiency and expense management.
Sheldon M. Groner, NAREIT's executive vice president of finance and
operations remarked, "NAREIT initiated its 'Leader in the Light' award in 2005
based on our conviction that the REIT industry should be a strong and visible
contributor to building management practices that conserve energy and help to
preserve our environment. We commend Simon Property Group for the leadership
role it is playing in this regard and congratulate it for being awarded the
Gold Leader in the Light award for the second consecutive year."
In 2004, Simon implemented a comprehensive strategy to improve energy
efficiency. Since that time, the company has reduced its electricity usage by
over 10% without affecting comfort, safety or reliability. This reduction
represents an annual cost saving of over $11 million and confirms the
importance of continued focus on best operating practices, management
reporting and cost-effective investments in energy efficiency to control
"Every kilowatt-hour we don't use is a kilowatt-hour we don't have to pay
for," said George Caraghiaur, Simon's vice president of energy services.
"Moreover, it's a kilowatt-hour that does not have to be produced by a power
plant. In other words, energy efficiency is good for the bottom line and for
the environment. It's a win-win proposal."
Simon Property Group, Inc. is an S&P 500 company and the largest public
U.S. real estate company. Simon is a fully integrated real estate company
which operates from five retail real estate platforms: regional malls, Premium
Outlet Centers(R), The Mills(R), community/lifestyle centers and international
properties. It currently owns or has an interest in 379 properties comprising
256 million square feet of gross leasable area in North America, Europe and
Asia. The Company is headquartered in Indianapolis, Indiana and employs more
than 5,000 people worldwide. Simon Property Group, Inc. is publicly traded on
the NYSE under the symbol SPG. For further information, visit the Company's
website at www.simon.com.
SOURCE Simon Property Group
/CONTACT: Les Morris of Simon Property Group, +1-317-263-7711,
/Web site: http://www.simon.com /