Washington Prime Group Inc. is an American

real estate investment trust A real estate investment trust (REIT) is a company that owns, and in most cases operates, income-producing real estate. REITs own many types of commercial real estate, including office and apartment buildings, warehouses, hospitals, shopping cente ...

that invests in

shopping center A shopping center (American English) or shopping centre (Commonwealth English), also called a shopping complex, shopping arcade, shopping plaza or galleria, is a group of shops built together, sometimes under one roof. The first known collec ...

s. The company is organized in

Indiana Indiana () is a U.S. state in the Midwestern United States. It is the 38th-largest by area and the 17th-most populous of the 50 States. Its capital and largest city is Indianapolis. Indiana was admitted to the United States as the 19th s ...

with its headquarters 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 t ...

. From January 2015 to September 2016, the company had the name WP Glimcher. On June 13, 2021, Washington Prime filed for

Chapter 11 Chapter 11 of the United States Bankruptcy Code (Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, wheth ...

bankruptcy.

Investments

As of , the company owned interests in 89 shopping centers. Properties owned by the company include the following:

History

On May 28, 2014, the company, which at that time owned interests in 98 shopping centers, was spun off by

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 Indian ...

. In June 2014, the company acquired its partner's 50% interest in

Clay Terrace Clay Terrace is a community lifestyle center in Carmel, Indiana. Opened in 2004, it is managed by Washington Prime Group. History Clay Terrace opened in 2004. It, Jefferson Pointe in Fort Wayne, and Metropolis in Plainfield were the first three ...

for $22.9 million. In January 2015, the company acquired

Glimcher Realty Trust Glimcher Realty Trust was a real estate investment trust based in Columbus, Ohio that invested in shopping malls. In 2015, the company was acquired by Washington Prime Group. Investments As of December 31, 2013, the company owned interests in 2 ...

in a $4.3 billion transaction and the company was renamed as WP Glimcher. 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 ...

Elizabeth, New Jersey Elizabeth is a city and the county seat of Union County, in the U.S. state of New Jersey.New J ...

and University Park Village in

Fort Worth, Texas Fort Worth is the fifth-largest city in the U.S. state of Texas and the 13th-largest city in the United States. It is the county seat of Tarrant County, covering nearly into four other counties: Denton, Johnson, Parker, and Wise. According ...

, were sold to

, while WP Glimcher acquired

Brunswick Square Brunswick Square is a public garden and ancillary streets along two of its sides in Bloomsbury, in the London Borough of Camden. It is overlooked by the School of Pharmacy and the Foundling Museum to the north; the Brunswick Centre to the w ...

East Brunswick, New Jersey East Brunswick is a township in Middlesex County, New Jersey, United States. The suburban bedroom community is part of the New York City metropolitan area and is located on the southern shore of the Raritan River, directly adjacent to the city ...

and

Jefferson Valley Mall Jefferson Valley Mall is an enclosed shopping mall in Yorktown, New York. Opened in 1983, it is anchored by Macy's and Dick's Sporting Goods. It is managed by Washington Prime Group. History Melvin Simon & Associates built Jefferson Valley Mall ...

Yorktown Heights, New York Yorktown Heights is a census-designated place (CDP) in the administrative divisions of New York#Town, town of Yorktown, New York, Yorktown in Westchester County, New York, Westchester County, New York (state), New York, United States. The popula ...

from Simon. On June 20, 2016, CEO Michael P. Glimcher resigned from the company and Louis G. Conforti was named chief executive officer. In September 2016, the company changed its name back to Washington Prime Group. The company also sold

Knoxville Center Knoxville Center, originally known as East Towne Mall, was a shopping mall located in North Knoxville, Tennessee. It was in operation from 1984 to January 2020, and was demolished in 2021. History The mall opened in 1984, The mall was located ...

for $10.15 million. In May 2017, the company sold a stake in six mall properties for $340 million. In June 2021, Washington Prime Group filed for

bankruptcy Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor ...

References

External links

* {{Finance links , name = Washington Prime Group Inc. , google = WPG , yahoo = WPG , bloomberg = WPG:US , symbol = WPG , sec_cik = WPG 2015 establishments in Ohio Companies based in Ohio Real estate investment trusts of the United States Shopping center management firms Companies that filed for Chapter 11 bankruptcy in 2021 Companies formerly listed on the New York Stock Exchange Companies traded over-the-counter in the United States