MAAT INDEX

CLAIM #54480 · SPG (SPG) · 2023Q2 earnings call · Aug 2, 2023 · due Dec 31, 2024

And I'm happy to say that we will be back. We better be back, okay, but we will be back in there in 2024.

David Simon · CEO

PENDING
graded after results covering Dec 31, 2024 are reported

In context

tenants, which typically pay significantly higher rents. So presumably, it has a greater impact on your NOI and ABR than your – than the percentage just in terms of occupancy? David Simon: Look, we don't want to get into that level of detail. We certainly will for 2024 as we outlined what our comp NOI growth is. But you're 100% right that the – it is much easier and quicker to open an outlet store. The build-out can be anywhere between 30 and 90 days. And the mall generally can be six months plus. And then when you get to complicated tenants or where the build-out is expensive. You're talking nine months plus restaurants in that area. But we do – and it goes back to, I think, Floris, you were one of the original analyst that was very focused on when we're going to get back to 2019 levels. And I'm happy to say that we will be back. We better be back, okay, but we will be back in there in 2024. And a lot of that really at the end of this year, we annualize it, so it really is a function of getting those retailers open. But the specific numbers, I mean, I'll – if the guys want to talk offline and go through it, I'm certainly happy to do that. But that's – I think it's better answered as we go through 2024 our comp NOI plan with you early next year. Floris Van Dijkum: Thanks, David. David Simon: Sure. Operator: Thank you. And our next question comes from the line of Jeff Spector with Bank of America. Please proceed with your question. Jeffrey Spector: Great. Good afternoon. A follow-up question, David, on your comment on potentially allocating to money or investments into other assets. I mean, you've been doing that really since world financial crisis, investing in the best proper

Verify independently

SEC filings for SPG · Claim quote is verbatim from the 2023Q2 earnings call.