Washington Prime, O’Connor form JV for $600m portfolio

Washington Prime Group has entered into a joint venture with an affiliate of O’Connor Capital Partners for a partial ownership of seven open-air retail properties valued at $600 million.

This is Washington Prime’s second joint venture with O’Connor Capital. In February 2015, Washington Prime formed a joint venture with O’Connor Mall Partners to own and operate five of WP Glimcher’s malls, which were valued at approximately $1.625 billion.

Recently, Lou Conforti was named CEO of Washington Prime. Conforti, a director of the company, had served as interim CEO since June 2016. He will remain a member of the company’s board of directors. He previously was principal/executive director of Colony Capital. Prior to his work at Colony Capital, Conforti served as the global head of real estate for UBS O’Connor, the alternative investment management division of UBS AG, and also served as a managing director and head of real estat