Washington Prime Group
 |
|
| Public company | |
| Traded as | : WPG |
| Industry | Real estate |
| Headquarters | Columbus, Ohio, United States |
|
Key people
|
Louis Conforti (CEO) |
| Products | Real estate investment trust |
| Website | washingtonprime |
Washington Prime Group is a real estate investment trust (REIT) headquartered in Columbus, Ohio, with additional offices in Bethesda, Maryland and Indianapolis, Indiana. It was formed in 2015 from the merger of Washington Prime Group and Glimcher Realty Trust. The company is headed by CEO Louis Conforti, who took over from Michael Glimcher in 2016. Like its predecessors, it specializes in the development and management of malls and shopping centers. As of December 2016, it owned and managed 114 properties.
In 2014, Simon Property Group announced it would form an REIT of its regional malls and community shopping centers named Washington Prime Group. The spinoff was created in May 2014, headed by Mark Ordan, who was also the final CEO of the Simon-acquired Mills Corporation. The regional malls were still managed by and flagged as Simon properties until early 2016, while the shopping centers were managed by WPG in-house.
In September 2014, Washington Prime Group announced plans to acquire Glimcher Realty Trust and its properties, in which Washington Prime Group would be renamed WP Glimcher when the deal went through. The deal was completed in January 2015, with the newly merged company adding all of Glimcher's properties to its portfolio. As part of the deal, Jersey Gardens in Elizabeth, New Jersey and University Park Village in Fort Worth, Texas, were sold to Simon Property Group, while WP Glimcher acquired Brunswick Square in East Brunswick, New Jersey and Jefferson Valley Mall in Yorktown Heights, New York from Simon. Michael Glimcher, formerly the CEO of Glimcher Realty Trust, later became the CEO of WP Glimcher in June 2015.
...
Wikipedia