REAL ESTATE

Mall Magnate Raises More Than $800 Million: Mall and shopping center magnate Melvin Simon raised the amount in the nation’s largest initial public offering of a real estate investment trust, while developer Edward J. DeBartolo postponed what would have been the third-largest REIT IPO. Simon is the latest in a string of high-profile real estate developers who this year have rushed to tap the public markets for low-cost capital in the wake of falling interest rates. Simon Property Group Inc. raised $840 million by selling 37.75 million common shares for $22.50 each before underwriting fees.