On Tuesday, Washington Prime Group Inc (NYSE:WPG)’s shares declined -0.50% to $13.87.
Washington Prime Group Inc (WPG) a premier retail real estate investment trust specializing in the ownership, administration and development of shopping centers, recently declared the successful completion of the formation of its joint venture with O’Connor Mall Partners, L.P., an associate of O’Connor Capital Partners (“O’Connor”).
As a result of the transaction, O’Connor now has a 49% interest in the joint venture and WP Glimcher retains a 51% interest. The joint venture resulted in about $430 million of cash received by WP Glimcher, in addition to a reduction in WP Glimcher’s debt levels of about $800 million. This reflects the aggregate value of the properties of about $1.625 billion, less the mortgages secured by such properties at closing, plus costs spent to date on Phase III development at Scottsdale Quarter. This pricing implies a capitalization rate of 5.25% on in-place net operating income.
Proceeds from the transaction are being used to repay a portion of WP Glimcher’s bridge loan used to finance the acquisition of Glimcher Realty Trust, which was accomplished in January 2015. WP Glimcher plans to repay the remaining balance of the bridge loan with the proceeds from a new, 5-year $500 million term loan, which is predictable to close during the second quarter of 2015.
Washington Prime Group Inc. (NYSE:WPG.WI) operates independently of Simon Property Group Inc. as of May 28, 2014.
WhiteWave Foods Co (NYSE:WWAV)’s shares gained 0.08% to $47.19.
WhiteWave Foods Co (WWAV) declared that chairman and chief executive officer, Gregg Engles, executive vice president and chief financial officer, Kelly Haecker, and president of Europe foods and beverages, Bernard Deryckere will present to the investment community at the dbAccess Global Consumer Conference on Wednesday, June 10, 2015 at 8:30 a.m. Central European Summer Time (2:30 a.m. Eastern Daylight Time) in Paris, France.
The WhiteWave Foods Company, a consumer packaged food and beverage company, manufactures, markets, distributes, and sells branded plant-based foods and beverages, salads, fruits and vegetables, coffee creamers and beverages, and dairy products and organic produce in North America and Europe. It operates in three segments: Americas Foods & Beverages, Americas Fresh Foods, and Europe Foods & Beverages.
At the end of Tuesday’s trade, Anthem Inc (NYSE:ANTM)‘s shares dipped -2.34% to $164.14.
Anthem Inc (ANTM) declared a new national partnership to make an associate’s or bachelor’s degree accessible at no cost for any of its eligible 55,000 full-time and part-time associates through College for America at Southern New Hampshire University. College for America partners with employers to offer a competency-based, online curriculum that is engineered to assist associates fit a fully-accredited college degree in the busy lives of working adults.
This new benefit is accessible to any Anthem full-time or part-time employee who works 20 or more hours per week and has been employed at least six months. Anthem associates who take part in the College for America program can earn their degree at no cost as a result of Anthem’s tuition reimbursement benefit.
Anthem, Inc., through its auxiliaries, operates as a health benefits company in the United States. It operates through three segments: Commercial and Specialty Business, Government Business, and Other. The company offers a spectrum of network-based managed care health benefit plans to large and small employer, individual, Medicaid, and senior markets. Its managed care plans comprise preferred provider organizations; health maintenance organizations; point-of-service plans; traditional indemnity plans and other hybrid plans, such as consumer-driven health plans; and hospital only and limited benefit products.
American Homes 4 Rent (NYSE:AMH), ended its Tuesday’s trading session with 0.36% gain, and closed at $16.84.
American Homes 4 Rent (AMH) declared that the Company will make a presentation at NAREIT REITWeek 2015 in New York at the New York Hilton Midtown on Tuesday, June 9, 2015, at 3:45 pm to 4:15 pm (EDT). The presentation will be webcast and will be accessible on the Company’s website at www.americanhomes4rent.com under the For Investors tab on the day of the conference. A Replay of the webcast will be accessible through June 23, 2015.
American Homes 4 Rent is a real estate investment trust. The firm engages in the acquisition, renovation, leasing, and operating single-family home rental properties in the United States. American Homes 4 Rent was founded in 2012 and is based in Malibu, California.
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