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WPG - Washington Prime Group Being A Spinoff From Simon Doesn't Mean Simon Simply Dumped All Of Its Bad Assets On It
Washington Prime Group Inc.
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There are lots of generalizations in the mall space. With regards to Washington Prime Group (WPG), one of them is that during its formation (spinoff) Simon Property Group (SPG) passed on all of its junk assets to WPG, so it is a matter of time until WPG collapses. Wrong. We will look at two examples in Texas to indicate that one needs to dig deeper before jumping to conclusions.