Retail REIT Washington Prime Group Diversifying Tenant Base

01/08/2018 | by Sarah Borchersen-Keto

Louis Conforti, CEO and director of retail REIT Washington Prime Group Inc. (NYSE: WPG), joined Nareit for a video interview at REITworld 2017.

Washington Prime was formed in 2014 following a spin-off from Simon Property Group (NYSE: SPG). The company acquired Glimcher Realty Trust in 2015.

Conforti explained that his focus is on “rectifying long-standing ills of the industry” by reversing the over-concentration on certain types of retailers, such as junior fashion and accessories stores.

The goal, according to Conforti, is to “optimize and diversify” Washington Prime’s tenant base. At the same time, activating a mall’s common area is “the holy grail for enclosed assets,” he added.

Companies:

Company name

Simon Property Group, Inc.

Retail

1 Year Total Return

57.03% As of market close 11/19/2024

Stock price

$181.21

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