06/18/2010 | By REIT.com
David Simon, chairman and CEO of Simon Property Group (NYSE: SPG), described himself as a "cash flow guy" in a recent interview with REIT.com. Simon said he viewed cash flow as the most important metric in gauging where the sector and his company's properties are headed.
Speaking during REITWeek 2010, Simon said there has been improvement in retail fundamentals but that there was more recovery to be done. In general, he said the company's U.S. operations were hit harder by the global economic crisis than those in Asia and Europe.
As for growth going forward, Simon said he anticipates acquisitions to push the needle more than development for his company. He said the key is to be patient and wait for the right opportunity when gauging potential acquisition targets.
"You can't run to do a deal just to do a deal," he said.