Washington Prime Group Inc.
New York Stock ExchangeCapital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.Company Description
- CEO
- Louis Conforti
- Full Time Employees
- 717
- Sector
- Real Estate
- Industry
- REIT - Retail
- Address
- 180 E Broad St Columbus OH United States of America 43215
- IPO Date
- May 14, 2014
- CIK
- 0001594686
- Website
- wpgus.com
- Similar Companies
- Business
- Washington Prime Group Inc. is an American real estate investment trust (REIT) specializing in the ownership, development, and management of retail real estate across the United States. The company owns and operates a diversified portfolio of shopping centers including enclosed malls and open-air retail properties. Its portfolio spans approximately 39 million square feet across 27 states, with 73 properties that host over 2,300 retailers ranging from national brands to small businesses. Core retail offerings include traditional shopping malls and open-air centers featuring a mix of department stores, specialty retailers, entertainment venues, and dining options. Founded in 2014 and headquartered in Columbus, Ohio, Washington Prime Group operates through its affiliates, including a limited partnership subsidiary. Key assets within its portfolio include properties such as Bowie Town Center in Maryland, Boynton Beach Mall in Florida, and Gateway Mall in Nebraska. The company focuses primarily on suburban growth markets and caters to a broad range of tenants, providing infrastructure and space for retail operations. In the last 1-2 years, Washington Prime Group has undergone significant strategic shifts. It has been actively divesting assets, selling roughly $1 billion worth of malls and shopping centers across the country to streamline its portfolio and manage its commercial mortgage-backed securities debt obligations. This includes notable sales such as multiple grocery-anchored shopping centers to Brixmor Property Group and an outlet mall in Auburn, Washington. The company is concurrently redeveloping some properties to include first-to-market retail concepts like HomeGoods, Chipotle, and Tiger Woods-backed Popstroke golf entertainment, enhancing tenant mix and shopper experience. Washington Prime Group has also announced workforce reductions at its Columbus headquarters as part of its operational restructuring. Washington Prime Group’s business segments consist primarily of retail real estate ownership and management, focusing on enhancing value through redevelopment and tenant diversification. The company maintains a national footprint with properties generating over 300 million guest visits annually. It continues to reposition its portfolio towards strategic core open-air centers, optimizing for market growth and operational performance. Overall, Washington Prime Group functions as a self-administered, self-managed REIT dedicated to retail real estate investment in the U.S., navigating post-pandemic challenges with a focus on portfolio rationalization, redevelopment, and tenant experience improvements while headquartered in Columbus, Ohio.
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