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Introduction
We are pleased to provide an update on Washington Prime Group (WPG), explaining why the shorts are wrong. This is one of our most favorite REITs and we remain very bullish.
The mall sector is undergoing a significant change as numerous retailers that were once dominant have filed for bankruptcy and substantially liquidated. Bon-Ton, Sears, Toys 'R Us, Payless ShoeSource, Charlotte Russe, and Gymboree have all filed for bankruptcy over the last year and a half.
Mall REITs have fallen out of