 They would entice a large anchor tenant, typically a department store, to their planned mall by charging them less rent and then would use the contract to obtain bank financing for the construction usually with minimal investment from the Simons.Once the project was completed, the Simons would charge smaller stores a higher rate and also required that stores pay a premium over their rent if their sales exceeded pre-negotiated levels.In 1993, Melvin Simon & Associates went public as the Simon Property Group raising $1 billion for the Simon brothers.