Strong Cash GenerationSimon generates durable, high-quality cash flow: ~ $4.2B operating cash flow and $3.3B free cash flow in the TTM. That steady cash conversion supports dividends, buybacks and internally funding development, reducing reliance on external capital for growth over the medium term.
High Occupancy And Leasing MomentumSustained leasing activity and high occupancy (96% overall; 99.2% at The Mills) reflect resilient tenant demand and effective asset management. Consistently replacing expirations and capturing new leases supports rent roll growth and stable NOI over multiple quarters.
Attractive Development Pipeline & Ample LiquidityA large, accretive pipeline (9% blended yield on $1.06B underway and ~$4B more ready/pipeline) plus ~ $8.7B liquidity provides durable optionality. Internal funding capacity and market access let Simon pursue mixed‑use value creation while supporting dividends and maturities.