Washington Prime Group

Washington Prime Group Inc. is an American real estate investment trust that invests in shopping centers. The company is organized in Indiana with its headquarters in Columbus, Ohio.^[1] From January 2015 to September 2016, the company had the name WP Glimcher. On June 13, 2021, Washington Prime filed for Chapter 11 bankruptcy.^[2]

Washington Prime Group Inc.

Industry	Real estate investment trust
Founded	May 28, 2014; 8 years ago (2014-05-28)
Headquarters	Columbus, Ohio, US
Key people	Robert J. Laikin, Chairman Louis G. Conforti, CEO Mark E. Yale, CFO
Products	Shopping centers
Revenue	$661 million (2019)
Net income	-$9 million (2019)
Total assets	$4.250 billion (2019)
Total equity	$906 million (2019)
Number of employees	845 (2019)
Website	washingtonprime.com
Footnotes / references ^[1]

Investments

As of 2023, the company owned interests in 89 shopping centers.^[1]

Properties owned by the company include the following:^[1][3]

Property Name	Location
Ashland Town Center	Ashland, Kentucky
Arbor Hills	Ann Arbor, Michigan
Arboretum	Austin, Texas
Bloomingdale Court	Bloomingdale, Illinois
Bowie Town Center	Bowie, Maryland
Bowie Town Center Strip	Bowie, Maryland
Boynton Beach Mall	Boynton Beach, Florida
Canyon View Marketplace	Grand Junction, Colorado
Chesapeake Center	Chesapeake, Virginia
Classen Curve/Nichols Hills Plaza/The Triangle at Classen Curve	Nichols Hills, Oklahoma
Clay Terrace	Carmel, Indiana
Concord Marketplace	Concord, North Carolina
Countryside Plaza	Countryside, Illinois
Dare Centre	Kill Devil Hills, North Carolina
Edison Mall	Fort Myers, Florida
Empire East	Sioux Falls, South Dakota
Fairfax Court	Fairfax, Virginia
Fairfield Town Center	Cypress, Texas
Forest Plaza	Rockford, Illinois
Gaitway Plaza	Ocala, Florida
Gateway Mall	Lincoln, Nebraska
Gateway Shopping Centers	Austin, Texas
Grand Central Mall	Vienna, West Virginia
Great Lakes Mall	Mentor, Ohio
Greenwood Plus	Greenwood, Indiana
Henderson Square	King of Prussia, Pennsylvania
Indian Mound Mall	Heath, Ohio
Irving Mall	Irving, Texas
Jefferson Valley Mall	Yorktown Heights, New York
Keystone Shoppes	Indianapolis, Indiana
Lake Plaza	Waukegan, Illinois
Lakeline Plaza	Cedar Park, Texas
Lakeline Village	Cedar Park, Texas
Lakeview Plaza	Orland Park, Illinois
Lima Center	Lima, Ohio
Lima Mall	Lima, Ohio
Lincoln Crossing	O'Fallon, Illinois
Lindale Mall	Cedar Rapids, Iowa
Longview Mall	Longview, Texas
MacGregor Village	Cary, North Carolina
Malibu Lumber Yard	Malibu, California
The Mall at Fairfield Commons	Beavercreek, Ohio
The Mall at Johnson City	Johnson City, Tennessee
Mall of Georgia Crossing	Buford, Georgia
Markland Mall	Kokomo, Indiana
Markland Plaza	Kokomo, Indiana
Martinsville Plaza	Martinsville, Virginia
Melbourne Square	Melbourne, Florida
Mesa Mall	Grand Junction, Colorado
Morgantown Mall	Morgantown, West Virginia
Muncie Plaza	Muncie, Indiana
New Towne Mall	New Philadelphia, Ohio
North Ridge Shopping Center	Raleigh, North Carolina
Northtown Mall	Blaine, Minnesota
Northwood Plaza	Fort Wayne, Indiana
Orange Park Mall	Orange Park, Florida
The Outlet Collection Seattle	Auburn, Washington
Paddock Mall	Ocala, Florida
Palms Crossing	McAllen, Texas
Pearlridge Center	Aiea, Hawaii
The Plaza at Buckland Hills	Manchester, Connecticut
Polaris Fashion Place	Columbus, Ohio
Richardson Square	Richardson, Texas
Rockaway Centres	Rockaway, New Jersey
Royal Eagle Plaza	Coral Springs, Florida
Scottsdale Quarter	Scottsdale, Arizona
The Shops at Arbor Walk	Austin, Texas
The Shops at North East Mall	Hurst, Texas
Southern Hills Mall	Sioux City, Iowa
Southern Park Mall	Youngstown, Ohio
Southgate Mall	Missoula, Montana
St. Charles Towne Plaza	Waldorf, Maryland
Sunland Park Mall	El Paso, Texas
Tippecanoe Plaza	Lafayette, Indiana
Town Center at Aurora	Aurora, Colorado
Town Center Plaza and Town Center Crossing	Leawood, Kansas
University Center	Mishawaka, Indiana
University Town Plaza	Pensacola, Florida
Village Park Plaza	Carmel, Indiana
Washington Plaza	Indianapolis, Indiana
Waterford Lakes Town Center	Orlando, Florida
Weberstown Mall	Stockton, California
West Town Corners	Altamonte Springs, Florida
Westland Park Plaza	Jacksonville, Florida
Westminster Mall	Westminster, California
WestShore Plaza	Tampa, Florida
White Oaks Plaza and Convenience Center	Springfield, Illinois
Whitehall Mall	Whitehall, Pennsylvania
Wolf Ranch Town Center	Georgetown, Texas

History

On May 28, 2014, the company, which at that time owned interests in 98 shopping centers, was spun off by Simon Property Group.^[4]

In June 2014, the company acquired its partner's 50% interest in Clay Terrace for $22.9 million.^[5]

In January 2015, the company acquired Glimcher Realty Trust in a $4.3 billion transaction and the company was renamed as WP Glimcher. As part of the transaction, 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.^[6][7]

On June 20, 2016, CEO Michael P. Glimcher resigned from the company and Louis G. Conforti was named chief executive officer.^[8][9]

In September 2016, the company changed its name back to Washington Prime Group.^[10] The company also sold Knoxville Center for $10.15 million.^[11]

In May 2017, the company sold a stake in six mall properties for $340 million.^[12]

In June 2021, Washington Prime Group filed for bankruptcy.^[2]

References

1. "Washington Prime Group Inc. 2019 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
2. Tyko, Kelly (June 14, 2021). "Mall owner Washington Prime Group files for Chapter 11 bankruptcy protection, citing COVID-19". USA Today. McLean, Va. Retrieved June 14, 2021.
3. "Washington Prime Group Inc. - Properties - Portfolio - All Properties". wpgus.com. Retrieved 2022-12-22.
4. "Simon Property Group Announces Completion Of Spin-Off Of Washington Prime Group" (Press release). PR Newswire. May 28, 2014.
5. "Washington Prime Acquires Partner's Interest in Clay Terrace" (Press release). PR Newswire. June 16, 2014.
6. "Washington Prime Group Inc. to Acquire Glimcher Realty Trust for $4.3 Billion in Stock and Cash Including the Assumption of Debt" (Press release). PR Newswire. September 16, 2014.
7. "Washington Prime Group Completes Acquisition of Glimcher Realty Trust; Company to Be Known as WP GLIMCHER" (Press release). Business Wire. January 15, 2015.
8. "WP Glimcher Announces Leadership Transition and Proposed Corporate Change of Name" (Press release). Business Wire. June 20, 2016.
9. "WP Glimcher says CEO resigns, proposes name change". Reuters. June 20, 2016.
10. Weese, Evan (September 1, 2016). "Glimcher name dropped as mall operator rebrands as 'Washington Prime Group'". American City Business Journals.
11. "Knoxville Center Mall sold". Knoxville News Sentinel. August 19, 2016.
12. Weese, Evan (May 16, 2017). "Washington Prime Group sells $340M stake in 6 mall properties". American City Business Journals.

External links

• Official website
• Business data for Washington Prime Group Inc.:
  • Bloomberg
  • Google
  • SEC filings
  • Yahoo!