COLUMBUS, Ohio, Dec. 19, 2019 (GLOBE NEWSWIRE) -- Washington Prime Group Inc. (WPG) today announced new hotel and residential uses at the site of its three Oklahoma City properties, further enhancing the Company’s owned retail components which total approximately 310,000 SF.
These new mixed uses are expected to draw a significant increase in annual visitors to the Company’s collection of three properties – Classen Curve, The Triangle at Classen Curve and Nichols Hills Plaza, benefitting existing tenants and generating strong future leasing demand.
The planned 120-room Ellison Hotel is expected to open in 2021 on The Triangle of Classen Curve site just north of Whole Foods. The lifestyle boutique hotel will include a restaurant developed by Chris Lower and Joseph Royer, a rooftop swimming pool and bar, and 7,000 SF of meeting space including a ballroom and library lounge.
The hotel is named in honor of Oklahoma City literary icon Ralph Ellison with designs aimed at featuring local artists and authors. The hotel will be the first in Oklahoma under the Tribute Portfolio, Marriott International’s newest brand that accommodates independent hotels with a variety of designs and an emphasis on the local community. The developer and owner of the Ellison Hotel is Plains Management Group of Oklahoma City. Washington Prime Group completed in 2018 the sale of the land for the hotel development.
Expected to anchor the residential component is The Residences at Classen Curve, a five-story multifamily project with about 325 for-rent units, planned on an approximately four-acre site adjacent to The Triangle at Classen Curve and Nichols Plaza, which is currently undeveloped. The Residences at Classen Curve is expected to be the only Class A community in Oklahoma City with walkability to Whole Foods and Trader Joe’s, and it will also be walkable to nearly 20 dining options and multiple lifestyle and fitness concepts. Hines, an international real estate firm, plans to partner with Humphreys Capital to develop The Residences at Classen Curve.
The Residences at Classen Curve project is expected to feature resort-style amenities including a private fitness center, as well as private amenities such as courtyards, pool, club room, coworking lounge, dog run, package facilities and significant bicycle storage to take advantage of the site’s adjacency to the Lake Hefner Trail. Construction on The Residences at Classen Curve is slated to begin in 2020 with occupancy expected to begin in late 2021. Washington Prime Group expects to complete the sale of the land to Hines during the first half of 2020.
Offering some of the area’s most unique retailers and dining options, this collection of properties is ideally situated in the heart of Oklahoma City. With a mix of trendy local tenants and upscale national chains, these three town centers boast distinctive modern architecture in an unparalleled setting, while providing an unequaled shopping and dining experience to residents and tourists. Moreover, many retailers have their only Oklahoma City location here, making this a truly desirable location.
The dynamic tenant lineup at Classen Curve includes retail and lifestyle tenants lululemon, Kendra Scott, Rustic Cuff, Red Coyote, Cos Bar, Warby Parker, Bonobos, Tecovas, Mizzen + Main, Athleta, Soft Surroundings, Sur La Table, Evereve, and one of the top CycleBar locations in the country. The Triangle at Classen Curve is anchored by Whole Foods, Anthropologie, and West Elm. Adjacent Nichols Plaza is anchored by Trader Joe’s, CK & Co, Balliet’s, Naifeh Fine Jewelry, Hollywood Feed, and Orange Theory Fitness.
The collection of properties serve as the area’s premier dining destination featuring food and beverage options Republic Gastropub, Café 501, Tucker’s Onion Burgers, Zoës Kitchen, En Croute, Upper Crust, and The Hutch on Avondale. During the past 24 months, the Company executed leases with several exciting, new dining options including HopDoddy Burger Bar, a free-standing Starbucks Coffee, Osteria Italian, Chicken Salad Chick, Flower Child, and Torchy's Tacos.
New tenants expected to open in 2020 include BC Clark, Flower Child, and Torchy's Tacos.
These properties continue to benefit from an incredibly talented local management team. Shane McWhorter, General Manager, is instrumental in executing the long term vision, and together with Marketing Director Shannon Barghols, the team has implemented a robust schedule of community events. Classen Curve hosts nearly 100 events throughout the year which drive guest traffic, encourage extended visits and strengthen the town centers as the gathering place to shop, eat, drink, play – and now live – in the Oklahoma City area. Learn more atwww.classencurve.com.
About Washington Prime Group
Washington Prime Group Inc. is a retail REIT and a recognized leader in the ownership, management, acquisition and development of retail properties. The Company combines a national real estate portfolio with its expertise across the entire shopping center sector to increase cash flow through rigorous management of assets and provide new opportunities to retailers looking for growth throughout the U.S. Washington Prime Group® is a registered trademark of the Company. Learn more atwww.washingtonprime.com.
Contacts
Lisa A. Indest, CAO & EVP, Finance, 614.887.5844 orlisa.indest@washingtonprime.com
Kimberly A. Green, VP, Investor Relations & Corporate Communications, 614.887.5647 orkim.green@washingtonprime.com
Forward-Looking Statements
This news release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 which represent the current expectations and beliefs of management of Washington Prime Inc. (“WPG”) concerning the proposed transactions, the anticipated consequences and benefits of the transactions and the targeted close date for the transactions, and other future events and their potential effects on WPG, including, but not limited to, statements relating to anticipated financial and operating results, the company’s plans, objectives, expectations and intentions, cost savings and other statements, including words such as “anticipate,” “believe,” “plan,” “estimate,” “expect,” “intend,” “will,” “should,” “may,” and other similar expressions. Such statements are based upon the current beliefs and expectations of WPG’s management, and involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of WPG to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, without limitation: changes in asset quality and credit risk; ability to sustain revenue and earnings growth; changes in political, economic or market conditions generally and the real estate and capital markets specifically; the impact of increased competition; the availability of capital and financing; tenant or joint venture partner(s) bankruptcies; the failure to increase mall store occupancy and same-mall operating income; risks associated with the acquisition, (re)development, expansion, leasing and management of properties; changes in market rental rates; trends in the retail industry; relationships with anchor tenants; risks relating to joint venture properties; costs of common area maintenance; competitive market forces; the level and volatility of interest rates; the rate of revenue increases as compared to expense increases; the financial stability of tenants within the retail industry; the restrictions in current financing arrangements or the failure to comply with such arrangements; the liquidity of real estate investments; the impact of changes to tax legislation and WPG’s tax positions; failure to qualify as a real estate investment trust; the failure to refinance debt at favorable terms and conditions; loss of key personnel; material changes in the dividend rates on securities or the ability to pay dividends on common shares or other securities; possible restrictions on the ability to operate or dispose of any partially-owned properties; the failure to achieve earnings/funds from operations targets or estimates; the failure to achieve projected returns or yields on (re)development and investment properties (including joint ventures); expected gains on debt extinguishment; changes in generally accepted accounting principles or interpretations thereof; terrorist activities and international hostilities; the unfavorable resolution of legal proceedings; the impact of future acquisitions and divestitures; assets that may be subject to impairment charges; significant costs related to environmental issues; and other risks and uncertainties, including those detailed from time to time in WPG’s statements and periodic reports filed with the Securities and Exchange Commission, including those described under “Risk Factors”. The forward-looking statements in this communication are qualified by these risk factors. Each statement speaks only as of the date of this press release and WPG undertakes no obligation to update or revise any forward-looking statements to reflect subsequent events or circumstances. Actual results may differ materially from current projections, expectations, and plans, if any. Investors, potential investors and others should give careful consideration to these risks and uncertainties.
俄亥俄州哥倫布,2019年12月19日(環球新聞社)--華盛頓總理集團公司。(WPG)今天宣佈在俄克拉荷馬市的三處房產的場地上使用新的酒店和住宅,這進一步加強了公司擁有的零售部件,這些部分總計約31萬SF。
這些新的混合用途預計將吸引更多的遊客來參觀該公司收集的三處房產--Classen曲線、Classen曲線的三角形和Nichols Hills廣場,使現有租户受益,併產生強勁的未來租賃需求。
計劃建造的有120個房間的埃裏森酒店預計將於2021年在全食北面的古典樂三角(TriangofClassen)曲線上開業。這家生活時尚精品酒店將包括克里斯·洛爾(Chris Lower)和約瑟夫·羅耶(Joseph Royer)開發的餐廳、屋頂游泳池和酒吧,以及包括宴會廳和圖書館休息室在內的7000 SF會議空間。
該酒店的命名是為了紀念俄克拉荷馬州文學偶像拉爾夫·埃裏森,設計的目的是讓當地藝術家和作家參與進來。該酒店將是俄克拉荷馬州首家在貢品組合下的酒店。貢品組合是萬豪國際最新的品牌,為獨立酒店提供多種設計,並強調當地社區。埃裏森酒店的開發商和業主是俄克拉荷馬市的平原管理集團。華盛頓總理集團於2018年完成了該酒店開發用地的出售工作。
預計將錨定住宅組件的是Classen曲線的住宅,這是一個五層多層的多家庭項目,約有325個出租單元,計劃建在一個大約4英畝的土地上,靠近Classen曲線和Nichols廣場的三角地帶,目前還沒有開發。在Classen曲線的住宅預計將是俄克拉荷馬市唯一一個可步行到WholeFoods和Trader Joe‘s的A類社區,它還可步行近20種就餐選擇以及多種生活方式和健身理念。Hines是一家國際房地產公司,計劃與HumphreysCapital合作開發Classen曲線住宅。
預計Classen曲線項目的住宅將以度假式便利設施為特色,包括私人健身中心,以及庭院、游泳池、俱樂部間、合作休息室、狗跑、打包設施和大型自行車儲藏設施等私人設施,以利用該場所與赫夫納小徑的毗鄰。Classen曲線住宅的建設計劃於2020年開始,預計將於2021年年底啟用。華盛頓總理集團預計將在2020年上半年完成向Hines出售這片土地的工作。
提供了一些地區最獨特的零售商和餐飲選擇,這一集合的物業是理想的位置在俄克拉荷馬城的中心。這三個城鎮中心既有時髦的當地租户,又有高檔的國家連鎖店,在一個無與倫比的環境下,擁有獨特的現代建築,同時也為居民和遊客提供了無與倫比的購物和就餐體驗。此外,許多零售商有他們唯一的俄克拉荷馬城的位置,使這是一個真正理想的位置。
Classen曲線的動態租户陣容包括零售和生活方式租户Lululemon、Kendra Scott、Rustic Cuff、Red Coyote、Cos Bar、Warby Parker、Bonobos、Tecovas、Mizzen+Main、Athleta、軟環境、Sur La Table、Evereve和全國頂級自行車酒吧之一。古蘭經曲線上的三角形由全食、人類學和西榆樹錨定。毗鄰的尼科爾斯廣場由Trader Joe‘s,CK&Co,Balliet’s,Naifeh精細珠寶店,好萊塢飼料公司和橙色理論健身中心組成。
這些酒店是該地區首選的餐飲目的地在過去的24個月裏,該公司簽訂了幾個令人興奮的新的餐飲選擇,包括霍普道迪漢堡吧,一個獨立的星巴克咖啡,意大利餐館,雞肉沙拉雞,花兒,和託西的塔科斯。
新租户預計在2020年開放,包括BC克拉克,花卉兒童,和託西的塔科斯。
這些物業繼續受益於一個非常有才華的當地管理團隊。總經理Shane McWhorter在執行長期願景方面發揮了重要作用,並與營銷總監Shannon Barghols一起實施了一個強有力的社區活動日程安排。Classen曲線全年舉辦了近100項活動,這些活動推動了遊客的交通,鼓勵了更廣泛的訪問,並加強了城鎮中心,使其成為俄克拉荷馬市地區購物、吃飯、喝酒、玩耍--現在還住在這裏--的聚集地。請登錄www.classencurve.com瞭解更多信息。
關於華盛頓首相集團
華盛頓總理集團公司是零售REIT和公認的領導者,在擁有,管理,收購和發展零售物業。該公司將全國房地產投資組合與其在整個購物中心部門的專業知識結合起來,通過嚴格的資產管理來增加現金流,併為尋求在美國各地尋求增長的零售商提供新的機會。華盛頓總理集團是該公司的註冊商標。欲瞭解更多信息,請訪問網址:www.wasingtonprime.com。
接觸
電子郵件:614.887.5844 orlisa.indest@wasingtonprime.com
投資者關係與公司溝通副總裁金伯利·A·格林電話:614.887.5647 orkim.Green@wasingtonprime.com
前瞻性陳述
本新聞稿載有1995年“私人證券訴訟改革法”所指的“前瞻性聲明”,代表了華盛頓總理公司管理層目前的期望和信念。(“WPG”)關於擬議的交易、交易的預期後果和收益以及交易的預定結束日期,以及其他未來事件及其對WPG的潛在影響,包括但不限於與預期財務和經營結果、公司的計劃、目標、期望和意圖、成本節約和其他報表有關的報表,包括“預期”、“相信”、“計劃”、“估計”、“預期”、“打算”、“打算”、“應”、“可能”和其他類似的表達方式。這些陳述是基於WPG管理層目前的信念和期望,涉及已知和未知的風險、不確定性和其他因素,這些因素可能導致wpg的實際結果、績效或成就與此類前瞻性聲明所表達或暗示的未來結果、績效或成就大不相同。這些因素包括:資產質量和信貸風險的變化;維持收入和收益增長的能力;一般的政治、經濟或市場條件的變化,特別是房地產和資本市場的變化;競爭加劇的影響;資本和融資的可得性;租户或合資夥伴破產;未能增加商場商店的入住率和相同的經營收入;與收購、(再)開發、擴張有關的風險。, 物業的租賃和管理;市場租金的變化;零售業的趨勢;與錨定租户的關係;與合資企業財產有關的風險;公共地區維護費用;市場競爭力量;利率的水平和波動性;收入與費用增加的比率;零售業內租户的財務穩定性;現行融資安排的限制或不遵守這種安排;房地產投資的流動性;税收立法的變化和WPG税收狀況的影響;不符合房地產投資信託資格;未能按優惠和條件對債務進行再融資;關鍵人員的損失;證券紅利率的重大變化或普通股或其他證券支付股息的能力;可能限制經營或處置任何部分擁有財產的能力;未能實現業務目標或估計數的收益/資金;未能實現(再)發展和投資財產(包括合資企業)的預期回報或收益;債務消滅的預期收益;普遍接受的會計原則或解釋方面的變化;恐怖活動和國際敵對行動;法律訴訟的不利解決;未來收購和剝離的影響;可能受到減值費用的資產;與環境問題有關的重大費用;以及其他風險和不確定因素,包括WPG向證券交易委員會提交的報表和定期報告中不時詳述的風險和不確定性, 包括“風險因素”項下所述的風險因素。這份來文中的前瞻性陳述受到這些風險因素的限制.每份聲明僅在本新聞稿發佈之日發表,WPG沒有義務更新或修改任何前瞻性聲明,以反映隨後發生的事件或情況。實際結果可能與當前的預測、預期和計劃(如果有的話)大相徑庭。投資者、潛在投資者和其他人應認真考慮這些風險和不確定因素。