Glimcher Announces the Acquisition of University Park Village in Fort Worth, Texas

  Glimcher Announces the Acquisition of University Park Village in Fort Worth,
  Texas

Business Wire

COLUMBUS, Ohio -- January 7, 2013

Glimcher Realty Trust (NYSE: GRT), one of the country’s premier retail REITs,
today announced the acquisition of University Park Village, a premier open-air
center located in Fort Worth, Texas. University Park Village has approximately
173,220 square feet of leasable retail space and has tenant sales averaging
more than $800 per square foot. The center is currently 97% occupied and
features upscale retailers such as Apple, Anthropologie, J. Crew, lululemon
athletica and Madewell.

The company purchased the center for $105 million.The company funded the
acquisition through a $60 million term loan and with the remaining funds
coming from the company’s credit facility. The term loan has an interest rate
of LIBOR plus 300 basis points and matures on April 8, 2013. The company
expects to obtain long-term mortgage financing on the property prior to the
term loan’s maturity date, provided market conditions are favorable.

“We are pleased with the acquisition of University Park Village, a highly
productive, dominant retail property in the vibrant Fort Worth market. This
quality property offers tremendous growth potential and aligns perfectly with
our acquisition strategy,” said Michael P. Glimcher, Chairman of the Board and
CEO.

University Village Park opened in 1986 and is situated in the most dynamic and
affluent area of Fort Worth, Texas. The Dallas/Fort Worth Metro areas remain
national leaders in population and employment growth.

About Glimcher Realty Trust

Glimcher Realty Trust, a real estate investment trust, is a recognized leader
in the ownership, management, acquisition and development of retail
properties, including mixed use, open-air and enclosed regional malls as well
as outlet centers. Glimcher owns interests in and manages 29 properties with
total gross leasable area totaling approximately 21.7 million square feet.

Glimcher Realty Trust’s common shares are listed on the New York Stock
Exchange under the symbol “GRT.” Glimcher Realty Trust’s Series G and Series H
preferred shares are listed on the New York Stock Exchange under the symbols
“GRTPRG” and “GRTPRH,” respectively. Glimcher Realty Trust is a component of
both the Russell 2000^® Index, representing small cap stocks, and the Russell
3000^® Index, representing the broader market. Glimcher^® is a registered
trademark of Glimcher Realty Trust.

Contact:

Glimcher Realty Trust
INVESTORS:
Lisa A. Indest, SVP, Finance and Accounting, 614-887-5844
lindest@glimcher.com
or
MEDIA:
Karen Bailey, Director, Corporate Communications, 614-887-5847
kbailey@glimcher.com
 
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