Taubman Centers, Inc.

Taubman Centers, Inc.

Taubman Centers, Inc.

Overview
Date Founded

1950

Headquarters

200 East Long Lake Road, Suite 300, Bloomfield Hills, MI, 48304-2324, USA

Type of Company

Public

Employees (Worldwide)

468

Industries

Real Estate
Retail: Other
Real Estate Investment Trusts

Company Description

Taubman was founded by A. Alfred Taubman* in 1950 and is known for its focus on dominant retail malls with the highest average sales productivity in the nation. Taubman creates extraordinary retail environments for shoppers, retailers, communities, and investors. Our portfolio of United States regional and super regional malls, located in major markets from coast to coast, is the most productive in the nation, with 2011 sales per square foot averaging $641. Through our Taubman Asia subsidiary, we are extending the company’s unsurpassed retail real estate expertise to international markets. Taubman is headquartered in Bloomfield Hills, Michigan, with our Taubman Asia subsidiary based in Hong Kong. Taubman began trading on the New York Stock Exchange in 1992 (NYSE:TCO) as a Real Estate Investment Trust and has had one of the highest ten-year total returns within the Mall REIT sector

Website
Contact Data
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Executives & Employees

Chairman, President & Chief Executive Officer

Assistant Secretary, Executive Vice President, General Counsel & Secretary, the Taubman Company LLC

Executive Vice President, Chief Financial Officer & Treasurer

Chief Operating Officer

Chief Accounting Officer & Vice President

Senior Vice President, Human Resources & Chief Human Resources Officer

President, Taubman Asia

Executive Vice President, Global Head of Leasing

Director, Investor Relations

Director, Strategic Communications

Board of Directors

Chairman, President & Chief Executive Officer at Taubman Centers, Inc.

President at J.C. Penney Mexico, Inc.

Founder at Turtle Pond Publications LLC

Former Partner at AEA Holdings LLC

Founder at Chazen Capital Partners LLC

Director-Center for Corporate Governance at University of Delaware

Former Chief Financial Officer at Macy's, Inc.

Senior Vice President at Franklin Mutual Advisers LLC

Chief Investment Officer, Partner, Managing Director & Member of the Investment Committee at Dune Real Estate Partners LP

Co-Founder at Land and Buildings Investment Management, LLC

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Taubman Centers, Inc.
Owners & Shareholders
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Long Pond Capital focuses on identifying asymmetry, a material disconnect between stock price and intrinsic value, at the company level across a broad investable universe of real estate and real-estate-related securities. The firm's strategy is value-oriented, fundamentally-driven and maintains a private equity approach to public equity investing. In managing the funds’ accounts, Long Pond implements a rigorous bottom-up research process and seeks to identify asymmetry in securities with significant downside protection. Long Pond's investments may include, but are not limited to: (i) assets trading at a discount to their underlying value; (ii) companies undergoing a change in capital structure, business plan, management or any other “overhang” that creates dislocation; (iii) well-capitalized companies that will profit from the current industry distress; (iv) attractively priced, high return on invested capital opportunities where growth is driven by real estate and real estate-related fundamentals; (vi) relative value opportunities, including REITS, where a static asset base combined with market volatility provides for low-risk trading between similar companies when market prices diverge; and (vi) catalyst-driven short opportunities including dividend cuts, projected earnings misses, overvalued companies with the potential to miss clinical targets and/or where management has publicized unrealistic expectations for future events. Finally, Long Pond employs an intense focus on liquidity, leverage and capital structure in order to maximize downside protection in volatile markets. ^

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Madison International Realty Holdings focuses on originating, underwriting and executing investments in real estate for their private equity funds. They specialize in making secondary investments in private real estate transactions.

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CBRE Clarion Securities actively manages portfolios of real asset securities including listed real estate and infrastructure, to either outperform a passive index strategy or achieve a target rate of return through expertise and research of both listed and direct real estate and infrastructure markets. The firm focuses on investing in equity-related securities of publicly traded real estate and infrastructure companies which generally include: common stock, preferred stock. MLP units, convertible debt, warrants and rights. Although they focus on investing in publicly traded companies, not all securities issued by those companies are listed or actively quoted. On occasion, the firm may invest in private companies or in a private placement of securities by a public company. CBRE Clarion may also use other types of instruments to implement their investment strategies including options, ETFs, closed-end funds, participation notes and currency forwards.

Recent Transactions
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Starwood Capital Group Global LLC purchases Taubman Centers, Inc. /Shopping Mall Businesses (7) from Taubman Centers, Inc.

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Taubman Centers, Inc., TPA Hanam Union Square Holdings LP purchase Hanam Union Square Co., Ltd. from Shinsegae Co., Ltd.

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Shui On Land Ltd., China Xintiandi Co. Ltd. purchase Taubman Tcbl Co. Ltd. from Taubman Centers, Inc.

Transaction Advisors
Legal Advisor

Advised onTaubman Centers, Inc. issued Common Stock

Auditor

Advised onTaubman Centers, Inc. issued Common Stock

Underwriter

Advised onTaubman Centers, Inc. issued Common Stock

Legal Advisor

Advised onTaubman Centers, Inc. issued Common Stock

Leader, Lending & Finance Practice Group

Advised onStarwood Capital Group Global LLC purchases Taubman Centers, Inc. /Shopping Mall Businesses (7) from Taubman Centers, Inc.

Legal Advisor

Advised onStarwood Capital Group Global LLC purchases Taubman Centers, Inc. /Shopping Mall Businesses (7) from Taubman Centers, Inc.

Advisors & Consultants
Legal Advisor

Partner at Honigman Miller Schwartz and Cohn LLP

Legal Advisor

Leader, Securities & Corporate Governance Litigation Practice Group at Honigman Miller Schwartz and Cohn LLP

Legal Advisor

Partner Chair, Corporate Department at Honigman Miller Schwartz and Cohn LLP

Clients

L Brands, Inc. engages in the retail business. It is focused on women's intimate and other apparel, personal care and beauty categories. It operates its business through the following segments: Victorias Secret, Bath & Body Works, and Victoria's Secret and Bath & Body Works International. Its brands include Victorias Secret, Bath and Body Works, Pink, La Senza, and Henri Bendel. The company was founded by Leslie Herbert Wexner in 1963 and is headquartered in Columbus, OH.

Urban Outfitters, Inc. engages in the operation of retail clothing stores and sale of general merchandise. It operates through the Retail and Wholesale segments. The Retail segment offers merchandise directly through stores, catalogues, call centers, and websites, and consists of the brands Urban Outfitters, Anthropologie, Free People, Terrain, and Bhldn; as well as consists of food and beverage divisions. The Wholesale segment primarily designs, develops and markets young women’s contemporary casual wear including intimates and activewear and shoes under the Free People brand and home goods under the Anthropologie brand. The company was founded by Richard A. Hayne and Scott A. Belair in 1970 and is headquartered at Philadelphia, PA.

Hennes & Mauritz AB engages in the sale of clothing, accessories, footwear, cosmetics, and home textiles. Its products include accessories, underwear, cosmetics, sportswear, and other apparels for men, women, and kids. Its brands include H&M, COS, Monki, Weekday, & Other Stories, Cheap Monday, H&M Home, and ARKET. The company was founded by Erling Persson in 1947 and is headquartered in Stockholm, Sweden.

Key Stats and Financials As of 2017
Market Capitalization
$3.63B
Total Enterprise Value
$7.34B
Earnings Per Share
$0.91
Revenue
$626M
Net Profit
$78.4M
Enterprise Value Sales
11.72x
TEVNet Income
93.61x
Debt TEV
0.48x
Total Debt
$3.56B
Total Equity
$-143M
EBITDAMargin
51.65%
Enterprise Value EBITDAOperating
22.69x
EBITDA
$324M
Three Year Compounded Annual Growth Rate Of Revenue
-2.01%
Five Year Compounded Annual Growth Rate Of Revenue
-3.47%
Non-Profit Donations & Grants
$5,000 - $10K
2010
Investments
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Deliv, Inc. provides delivery services. It uses the technology advancements of omni-channel platforms and GPS-enabled smartphones to mobilize its crowd of drivers. The company was founded in 2012 by Daphne Carmeli and is headquartered in Menlo Park, CA.

Competitors
Simon Property Group, Inc. Real Estate - Indianapolis, Indiana

Simon Property Group, Inc. operates as a self-administered and self-managed real estate investment trust. It owns, develops and manages retail real estate properties which primarily consist of regional malls, premium outlets and mills. Simon Property Group specializes in the ownership, development, management, leasing, acquisition and expansion of income-producing retail real estate assets. The company was founded by Fred Simon, Herbert Simon and Melvin Simon in December 1993 and is headquartered in Indianapolis, IN.

Macerich Co. Real Estate - McLean, VA

Macerich® (NYSE: MAC) aligns exceptional retail properties in attractive U.S. markets with the business goals of the nation's retailers and the shopping preferences of local consumers. The company is one of the country’s leading owners, operators and developers of major retail properties. Macerich brings long-experienced management and a conservative approach to guiding its dynamic, well-placed portfolio, along with a commitment to retailer success that endures. Macerich properties include many top-performing centers in high-barrier-to-entry markets, including: Queens Center in New York City Tysons Corner Center in Northern Virginia just outside Washington, D.C. Scottsdale Fashion Square in Arizona Broadway Plaza in Walnut Creek, Calif. Washington Square near Portland, Ore

CBL & Associates Properties Inc. Real Estate - Wilmington, DE

CBL & Associates Properties, Inc. is a real estate investment trust, which owns and operates retail properties. The firm engages in owning, developing, acquiring, leasing, managing and operating regional shopping malls, open-air centers, community centers and office properties. It operates through Malls and All Other segments. Its properties include Malls, Associated Centers, Community Centers, Office Buildings, Construction Properties and Mortgages. The company was founded on July 13, 1993 and is headquartered in Chattanooga, TN.