Simon Property Group to Acquire Seattle's University Village, Deal to Close in Q4 2026

Simon Property Group Inc. (SPG) said Friday a subsidiary has agreed to acquire University Village, an open-air shopping center in Seattle, Washington, with the transaction expected to close in the fourth quarter of 2026. The property comprises nearly 600,000 square feet of retail space and more than 100 businesses, including national brands, local boutiques and restaurants. Simon said the acquisition adds a high-quality retail asset in a strong market to its portfolio. Shares of the real estate investment trust, which owns shopping, dining and entertainment destinations, rose 1.02% to $217.95 in pre-market trading on the New York Stock Exchange. Financial terms of the transaction were not disclosed.