David Simon, titan of shopping malls, including Roosevelt Field, dies at 64

Shopping mall titan David Simon has died of cancer at age 64.

He was the chairman, president and chief executive officer of the nation’s largest owner of shopping malls, Indianapolis-based Simon Property Group Inc., whose Long Island properties are Roosevelt Field in Uniondale, Walt Whitman Shops in Huntington Station and Smith Haven Mall in Lake Grove.

Simon died Sunday surrounded by his family, according to a statement from Simon Property Group.

"Our family is deeply grateful for the tremendous outpouring of love and support we have received from across the globe,” the family’s statement said. “Our beloved husband, father, grandfather and brother poured his heart and soul into building Simon Property Group. He was most proud of his family, his wife of over 40 years Jackie, and their 5 children: Eli, Rebecca, Hannah, Sam and Noah, and 7 grandchildren.”

In 1990, Simon joined Simon Property Group’s predecessor, Melvin Simon & Associates, as chief financial officer, after having been a Wall Street investment banker for First Boston Corp. and then Wasserstein Perella & Co.

In 1993, at age 31, “he orchestrated the company's initial public offering on the New York Stock Exchange — raising nearly $1 billion in what was then the largest real estate public stock offering in history,” Simon Property Group said in the statement.

He became the CEO in 1995.

“What followed was an unparalleled era of growth, innovation, and value creation. Under his leadership, Simon Property Group delivered a cumulative total shareholder return of more than 4,500% since its IPO — a record that places David among the most successful value creators in the history of public markets, in any industry,” the statement said.

Simon was behind a series of transformative retail real estate transactions, including acquisitions of DeBartolo Realty Corp., Corporate Property Investors, Chelsea Property Group, the Mills Corp. and Taubman Centers.

Currently, Simon Property Group owns or holds interests in more than 250 properties in North America, Europe and Asia.

At 2.3 million square feet, Roosevelt Field is the largest shopping mall on Long Island and the second-largest in New York State.

Simon Property Group’s board appointed David Simon’s son Eli as CEO and president, effective Monday. He will also continue as chief operating officer and director.

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By Tory N. Parrish

tory.parrish@newsday.comToryParrish1

Tory N. Parrish covers retail and small business for Newsday. She has worked at the Pittsburgh Tribune-Review and Observer-Dispatch in Utica, N.Y.