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News Sep 18, 2014

Shearman & Sterling Advises on Financing for Washington Prime Group Acquisition of Glimcher Realty Trust

Shearman & Sterling represented Citibank, N.A. in providing $1.25 billion in financing commitments for the $4.3 billion acquisition by Washington Prime Group (NYSE: WPG) of Glimcher Realty Trust (GRT) through a merger transaction.

Washington Prime Group (NYSE: WPG) is a retail REIT that owns and manages 96 shopping centers totaling more than 50 million square feet diversified by size, geography and tenancy. Glimcher Realty Trust, a real estate investment trust, is a recognized leader in the ownership, management, acquisition and development of retail properties, including mixed use, open-air and enclosed regional malls as well as outlet centers.

The Shearman & Sterling team included partners Malcolm Montgomery (New York-Real Estate) and Michael Steinberg (New York-Finance) and associate Elizabeth Martialay (New York-Real Estate).