Glimcher Realty Trust

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Glimcher Realty Trust (NYSEGRT) is a Columbus, Ohio based real estate investment trust.[1] The company specializes in the development and management of regional malls and shopping centers.[2] 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.[3] On the same day, Standard & Poor's lowered Glimcher's credit rating, in response to a declining outlook for the trust's portfolio.[4]

In 2004, it sold several properties to Bromont Investments, a company based in Scottsdale, Arizona.[5]

In early 2006, it acquired one mall in partnership with a Canadian pension fund and another one by itself.[6]

Properties managed[edit]

The following malls are managed by Glimcher:[7]

Restatement[edit]

On February 22, 2005, the company restated its financial statements from 2001 through 2003 to correct the timing of recognized revenue from tenants.[8]

References[edit]

  1. ^ "Company Profile". Glimcher Realty Trust. Retrieved 2008-11-18. 
  2. ^ "Regional Mall REITs Hold Up Under Pressure". Retail Traffic. 2008-08-13. Retrieved 2008-09-05. 
  3. ^ "Glimcher posts 3Q loss". Columbus Business First. 2008-10-22. Retrieved 2008-11-17. 
  4. ^ "S&P cuts Glimcher Realty Trust corp credit rating". Reuters. 2008-10-23. Retrieved 2008-11-17. 
  5. ^ "Realty trust sells small Lancaster, Ohio, mall". The Columbus Dispatch (Columbus, Ohio). August 7, 2004. Retrieved 26 April 2010. 
  6. ^ "Article: Glimcher Realty Trust sticks to enclosed malls despite open-air trend.". The Columbus Dispatch (Columbus, OH). January 5, 2006. Retrieved 26 April 2010. 
  7. ^ "Listing of Properties". Glimcher Realty Trust. Retrieved 2010-10-24. 
  8. ^ "Glimcher to restate earnings, FFO". 

External links[edit]