Today’s real estate news distilled into 50 seconds

CNBC’s Diana Olick reports that Simon Property Group, the largest U.S. shopping mall owner, saw a 9.7 percent decline in its profit in the third quarter. Meanwhile, Ty Warner, the creator of the popular plush stuffed animals Beanie Babies, is unable to get loan extensions on a $345 million securitized mortgage. Warner’s four luxury hotels, including the Four Seasons Manhattan, have faced financial troubles in the downturn.