Washington Prime Turning Over Two Malls to Lenders; Will Buyback One

The REIT plans to buy one of the malls back.

Washington Prime Group Inc. (NYSE: WPG) continued its portfolio re-construction agreeing to turn two malls over to lenders but with plans to buyback one of them. It also sold an additional mall and repaid the debt on a fourth. “As previously stated, within our Tier 2 portfolio there are certain assets which, save for the fact that they are overleveraged, exhibit Tier 1 characteristics,” said Lou Conforti, CEO of Columbus, OH-based Washington Prime.

View Original Article

Hide comments


  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.