Simon Property Group saw its net income increase last year as it executed a significant number of leases and projects and completed several major financing transactions.

The company’s net income rose 6.7 per cent to $2.28 billion as revenue climbed 6.9 per cent to $5.66 billion.

Funds from operations grew 4.6 per cent to $4.69 billion as domestic property net operating income increased 4.8 per cent and portfolio net operating income jumped 4.9 per cent.

The occupancy rate also inched higher to 95.8 per cent while base minimum rent per square foot stood at $56.82, up 3.1 per cent.

The real estate investment trust boasts of executing over 18 million square feet of leases and delivering 13 big redevelopment projects during the year.

Simon Property Group owns a large global portfolio, which includes regional malls, Premium Outlets, The Mills, community/lifestyle centers, office spaces, hotels/residential assets, designer outlets, and partner properties.