Second phase of residences approved for Firewheel Town Center

Construction to Commence on August 24

Simon Property Group, Inc. (NYSE:SPG), the world’s leading retail real estate company,  announced today that its Firewheel Town Center, a Main Street-style shopping, dining and entertainment center located in Garland, TX., will add an additional residential component to be named Parkside at Firewheel Phase II.

The project construction will commence on August 24. Slated for completion in December 2013, the first units will be available for occupancy in September 2013.

The 281–unit project will be located adjacent to the existing apartment and townhome project, Parkside at Firewheel. Units will range in size from 497 to 1230 square feet and feature more than 10 floor plans. Rental rates will range from $800 to $1,400 per month. The complex will mirror the current residential apartment component and offer an enhanced pool and fitness center.

“Firewheel Town Center will be the only place in Garland where residents can literally walk outside to shop and dine,” said Glenda Garcia, Director of Marketing & Business Development.  “As Garland continues to grow, we think it’s imperative that residents have this kind of option at Firewheel Town Center.”

Columbus Realty Partners, Ltd. is the lead developer of the Parkside at Firewheel Phase II. The residential partnership consists of Columbus Realty Partners, Ltd., General Electric Pension Trust and Simon Property Group, L.P. Lincoln Property Group will handle the leasing and property management of the complex.

Located at the northeast corner of the President George Bush Turnpike and Highway 78 North in north Garland, Firewheel Town Center is a one million square foot Main Street-style shopping, dining and entertainment center. Featuring hundreds of retailers, al fresco restaurants and pedestrian-friendly outdoor features, Firewheel Town Center is the destination for visitors looking to shop, relax and spend time with friends and family.

For residential information, visit the Parkside at Firewheel apartments and townhomes at www.parksideatfirewheel.com or call 972 530-0354.  The Parkside at Firewheel Leasing Office is located at 305 River Fern Avenue, Suite #1123 in Garland.

Simon Property Group, Inc. (NYSE:SPG) is an S&P 100 company and the largest real estate company in the world.  The Company currently owns or has an interest in 335 retail real estate properties in North America and Asia comprising 244 million square feet. We are headquartered in Indianapolis, Indiana and employ approximately 5,500 people in the U.S.  For more information, visit the Simon Property Group website at www.simon.com.

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