LONDON-Simon Property Group, based in Indianapolis, has hintedthat it may bid to buy the locally-based Capital Shopping Group,valued at about $9 billion. However, many retail experts andanalysts say that while the UK mall bid may represent the US-basedretail giant’s best bet to grow in the next decade, the REITdoesn’t have the ability to raise the needed funds before the costwould rocket to more than $11 billion.

Last week, CSC, formerly known as Liberty International,announced that it would buy the 1.9-million-square-foot TraffordCentre near Manchester for about $2.5 billion, including theassumption of $1.2 billion of debt. Owner the Peel Group would sellthe property to CSC, with the owner providing some of the funds inorder to buy enough shares to acquire a roughly 19.9% stake in thecompany, and join CSC’s board.

The day after the announcement, Simon, a 5.6% owner in CSC, sentthe local company a letter saying that it “had the opportunity topresent CSC with a potential cash offer for the company at anunspecified premium,” according to a CSC statement. However, thevagueness of the letter encouraged CSC to continue on with theTrafford purchase, and the firm will hold a Dec. 20 shareholdermeeting to approve the buy.