Glimcher Realty Trust

Glimcher Realty Trust (former NYSE symbol GRT) was a Columbus, Ohio based real estate investment trust headed by CEO Michael Glimcher. The company specialized in the development and management of regional malls and shopping centers. The company was acquired by Washington Prime Group (owned by Simon Property Group) in January 2015 and merged to become WP Glimcher.

Contents

• Ceo spotlight michael glimcher glimcher realty trust
• Glimcher realty trust focused on getting right mix at malls
• Former properties
• Restatement
• References

As of 2009, the company's properties consisted of 23 malls (with a total leasable area of 20.74 million square feet), and three community centers (with a total leasable area of 760 thousand square feet). On 2008-10-23, Glimcher Realty Trust posted a third quarter loss of US$3.44 million. On the same day, Standard & Poor's lowered Glimcher's credit rating, in response to a declining outlook for the trust's portfolio.

In 2004, it sold several properties to Bromont Investments, a company based in Scottsdale, Arizona.

In early 2006, it acquired one mall in partnership with a Canadian pension fund and another one by itself.

In September 2014, Simon Property Group's Washington Prime Group announced to acquire Glimcher Realty Trust and its properties, in which the companies would merge to become WP Glimcher. The deal was completed in January 2015, although the properties were still flagged as Simon properties until early 2016. As part of the deal, Jersey Gardens and University Park Village were sold to Simon, as well as WP Glimcher acquiring Brunswick Square from Simon in return. Michael Glimcher later went on to become CEO of the new merged company.