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INDIANAPOLIS-Melvin Simon, the co-founder of the largest shopping mall real estate company in the US, passed away today at the age of 82. A company statement said he died of a short illness.

Melvin Simon was chairman emeritus of locally-based Simon Property Group.

He started Melvin Simon & Associates with his two brothers Herbert and Fred in 1960. The company opened its first shopping center in Bloomington, IN. The company grew from that moment on and then went public in 1993.

Melvin and his brother Herbert stepped down as chairmen nearly two years ago. The company’s current CEO and chairman is Melvin’s son, David.

Simon Property Group has a stake in 387 properties throughout North America, Europe and Asia.

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