When mall giant Simon Property Group bought fashion retailer Aéropostale out of bankruptcy in 2016, it was seen by the market as an act of weakness, a short-term gamble from a company desperate to avoid a new swath of empty storefronts across its portfolio. Seven years on, Simon has swelled the portfolio of retail brands it owns stakes in as part of a joint venture with brand specialist Authentic Brands Group called SPARC. In that time, it has been both lauded as a brave visionary for investing in distressed, largely bankrupt retailers and criticized for avoiding vacancies by keeping dead-men-walking retail brands alive well past their sell-by date. And in the last month, it has taken its investment in retail brands as well as retail real estate up a notch. 
It is taking a $1B bet on department store chain JCPenney, which it co-owns with Brookfield, in the hope of turning around the fortunes of the loss-making chain. And in a move that has intrigued the retail sector, it has sold a third of its portfolio of retailers to… Read the full story here. | 
