Industry News
All Washington Prime Group News
Top stories summarized by our editors
Top stories summarized by our editors

Washington Prime Group gets approval for bankruptcy exit

9/13/2021

US Bankruptcy Judge Marvin Isgur has signed off on Washington Prime Group's Chapter 11 bankruptcy exit, although some uncertainty remains about the value of the REIT's assets. Under the plan, SVPGlobal will exchange debt holdings for ownership of the company.

Washington Prime Group gets approval for bankruptcy exit

9/7/2021

US Bankruptcy Judge Marvin Isgur has signed off on Washington Prime Group's Chapter 11 bankruptcy exit, although some uncertainty remains about the value of the REIT's assets. Under the plan, SVPGlobal will exchange debt holdings for ownership of the company.

Judge approves Washington Prime's bankruptcy plan

9/7/2021

A judge approved the bankruptcy plan for shopping center owner Washington Prime Group. The company listed its debts at more than $3 billion when it filed for bankruptcy but the value of it properties was unknown at the time of the settlement.

Sources: RPT Realty assessing Washington Prime's portfolio

7/6/2021

RPT Realty is reportedly evaluating Washington Prime Group's portfolio. When it filed for bankruptcy protection earlier this month, Washington Prime said it was "in discussions with several potentially interested parties" for a sale and that it would explore these bids even after submitting a restructuring plan.

Washington Prime seeks bankruptcy protection

6/21/2021

Washington Prime Group has filed for Chapter 11 bankruptcy protection in Houston, with plans to stay in business after it reached an agreement with certain creditors to restructure its debts. The REIT has secured a bankruptcy loan worth up to $100 million, and it plans to deleverage its balance sheet by almost $950 million.

Washington Prime seeks bankruptcy protection

6/14/2021

Washington Prime Group has filed for Chapter 11 bankruptcy protection in Houston, with plans to stay in business after it reached an agreement with certain creditors to restructure its debts. The REIT has secured a bankruptcy loan worth up to $100 million, and it plans to deleverage its balance sheet by almost $950 million.

Washington Prime lenders continue to debate asset division

5/14/2021

Creditors for Washington Prime Group are having a hard time agreeing on key issues involving the REIT's planned Chapter 11 filing, with debate around how to divide debt, cash and equity, according to sources. The disagreement has caused several deadline extensions, with the forbearance agreement now set to run out on May 19.

Washington Prime execs say they've discussed bankruptcy

3/23/2021

Executives with the Washington Prime Group say they are doubtful they can continue and are having discussions with lenders that include bankruptcy. The company, which owns 100 shopping centers in the US, reported a $111.4 million loss in the last three months of 2020.

Hawaii retail center's renovation focused on community

8/20/2020

Washington Prime Group, which acquired Pearlridge Center in Aiea, Hawaii, in 2015, has worked to renovate and rebrand the space to update physical features and connect more closely with the local community. "It's a renovation but it's actually a restoration of the soul of our community," says indigenous cultural expert Kehaulani Lum. The Pearlridge team has sought to aid locals during the pandemic, including by preparing and donating meals.