Washington Prime Turning Over Pair of Malls to Lenders; Will Buyback One

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…
National Commercial Real Estate News From CoStar Group

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