Back to Retail REITs
Inland Western Retail Real Estate Trust, Inc. Provides First Quarter 2011 Highlights

Inland Western Retail Real Estate Trust, Inc. (“Inland Western”) today provided highlights from the company’s first quarter 2011 financial and operational accomplishments.

During the quarter ended March 31, 2011, the company continued to demonstrate solid progress in executing its business strategy, achieving the following:

  • Signed 130 new and renewal leases in the retail operating portfolio for approximately 1.075 million square feet
  • Renewed 88.1 percent of the leases expiring in the first quarter 2011 within the retail operating portfolio
  • Reported for the retail operating portfolio 88.5 percent leased, including leases signed but not commenced
  • Refinanced, repaid and extinguished $276.4 million in debt
  • Amended and expanded its credit facility to a $585 million senior secured credit facility, including a $435 million senior secured revolving line of credit and a $150 million secured term loan with several banks
  • Sold two non-core properties aggregating 271,600 square feet for gross sales of $22.8 million, reducing the geographic exposure of the retail operating portfolio from 37 to 35 states
  • Increased the quarterly distribution to shareholders for the sixth consecutive quarter, declaring a first quarter 2011 distribution of $0.06 per share

About Inland Western Retail Real Estate Trust, Inc.

We are a fully-integrated, self-administered and self-managed real estate company that owns and operates high quality, strategically located shopping centers and single-user retail properties. We are one of the largest owners and operators of shopping centers in the United States. As of March 31, 2011, our retail operating portfolio consisted of 264 properties with approximately 35,491,000 square feet of gross leasable area (GLA), was geographically diversified across 35 states and includes power centers, community centers, neighborhood centers and lifestyle centers, as well as single-user retail properties.

(c) 2015 Business Wire, Inc., All rights reserved. All of the news releases and other content contained herein are protected by copyright and other applicable laws, treaties and conventions. Information contained in the releases is furnished by Business Wire's members, who warrant that they are solely responsible for the content, accuracy and originality of the information contained therein. Any copying or reproduction (other than for an individual user's personal reference), redistribution, reposting or other transmission or communication is expressly prohibited without prior written permission of Business Wire, Inc
Back to Retail REITs
Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki