Washington Prime completes acquisition of Glimcher Realty

Bethesda, Md. -- Washington Prime Group Inc. has completed its previously announced acquisition of Glimcher Realty Trust, created a new company WP Glimcher, based in Columbus, Ohio.



Mark S. Ordan will serve as executive chairman of the combined company’s board of directors and Michael P. Glimcher will serve as the combined company’s CEO and Vice Chairman, reporting to Ordan.



“We are very pleased to have completed our acquisition of Glimcher so quickly, which will allow us to begin taking advantage of the strengths of the combined company, including a broad and diverse group of strong cash flowing assets and a strong platform in Columbus as a foundation for growth,” said Ordan.



“This transaction delivers immediate benefit to Glimcher shareholders and creates a combined company and team positioned to deliver enhanced shareholder value,” added Glimcher.



In connection with the merger, Simon has completed its previously announced acquisition of Jersey Gardens in Elizabeth, New Jersey, and University Park Village in Fort Worth, Texas, properties previously owned by Glimcher, for $1.09 billion.