Simon Property Group (SPG) will acquire University Village. This prominent open-air retail and dining center is located in Seattle. The acquisition aligns with Simon's strategy for high-quality assets in strong markets. It expands Simon's presence in the Pacific Northwest.
The property spans nearly 600,000 square feet. It sits near the University of Washington. University Village hosts over 100 tenants. These include national brands like Apple and Lululemon, alongside local boutiques.
A Simon subsidiary manages the transaction. The deal is expected to close in the fourth quarter of 2026. It remains subject to customary conditions. Financial terms were not disclosed.