Glimcher Realty Trust was a real estate investment trust based in

Columbus, Ohio Columbus () is the state capital and the most populous city in the U.S. state of Ohio. With a 2020 census population of 905,748, it is the 14th-most populous city in the U.S., the second-most populous city in the Midwest, after Chicago, and ...

that invested in shopping malls. In 2015, the company was acquired by

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. From January 2015 to September 2016, the company had the name WP ...

Investments

As of December 31, 2013, the company owned interests in 28 shopping centers in 15 states in the United States containing 19.3 million square feet of gross leasable area. Notable properties wholly owned by the company included the following:

History

The company was founded as The Glimcher Company by Herbert Glimcher in 1959, who started in the lumber business. Throughout much of its history, the company's largest tenant was Kmart. In 1998, the company acquired 5 shopping malls for $375 million. In 1999, the company received a $1 billion investment from

Nomura Holdings is a Japanese financial holding company and a principal member of the Nomura Group. It, along with its broker-dealer, banking and other financial services subsidiaries, provides investment, financing and related services to individual, instituti ...

to build 4 shopping centers. On January 26, 1994, the company became a public company via an initial public offering. In 2004, the company sold 25 properties for $103.1 million. In 2007, the company sold University Mall in Tampa, Florida for $149 million. In 2010, the company closed a $320 million joint venture with

The Blackstone Group Blackstone Inc. is an American alternative investment management company based in New York City. Blackstone's private equity business has been one of the largest investors in leveraged buyouts in the last three decades, while its real estate bu ...

, which included the sale of a 60% interest in 2 malls. In 2011, the company completed an asset swap with DDR Corp. in which the company sold Polaris Towne Center and purchased

Town Center Plaza Town Center Plaza is an open-air shopping center in Leawood, Kansas, United States. It is home to a number of upscale stores with few or no other locations in the Kansas City area, including Allen Edmonds, Arhaus, Brooks Brothers, Bonobos, Cr ...

for $139 million. In 2013, the company acquired University Park Village in Fort Worth, Texas for $105 million. The company also acquired Blackstone's 60% interest in WestShore Plaza. In 2015, the company was acquired by Washington Prime Group for $4.3 billion in stock and cash. As part of the transaction,

Jersey Gardens The Mills at Jersey Gardens, originally and also still colloquially called Jersey Gardens, is a two-level indoor outlet mall in Elizabeth, New Jersey. The mall opened on October 21, 1999, and is the largest outlet mall in New Jersey, and much clos ...

and University Park Village were sold to

Simon Property Group Simon Property Group, Inc. is an American real estate investment trust that invests in shopping malls, outlet centers, and community/ lifestyle centers. It is the largest owner of shopping malls in the United States and is headquartered in India ...

for $1.09 billion.

References

{{Reflist, 1 1959 establishments in Ohio 2015 mergers and acquisitions Defunct companies of the United States Real estate companies established in 1959 Washington Prime Group