I believe it's critical to have a competitive advantage - an economic moat - and that means that without a "circle of competence", I don't see WPG become a model of repeatability. Glimcher has lived in a Beaux-Arts building on the Upper West Side since 2005, but not long ago expanded by combining its two top-floor apartments. Glimcher, like Simon, is a family name, and family businesses tend to have, in the REIT space as anywhere else, particularly high walls around them. "Who could say no to that? WPG's updated guidance range is $1.77-1.85 per share for adjusted FFO, and AFFO per share for the first quarter was $0.47. Glimcher, 46, has been connecting the dots for two decades, first while running public relations and special projects for Pace Gallery and, more recentlysince her marriage to Marc Glimcher, Pace's president, ended in 2013with her own company, Hyphen. "We are pleased to add an executive with Michael's deep expertise and high-caliber leadership ability to Starwood Retail Partners' team. Michael Glimcher Leads Diversification of Starwood's Portfolio At M I Homes, Michael Glimcher has 34 colleagues including Robert Schottenstein (Chairman & CEO), Nancy Kramer (Director) Industry Colleagues In the Construction industry, Michael Glimcher has 22,825 colleagues in 1,659 companies located in 70 countries. I need help. Once Glimcher stepped in, Susan Tepper had her first, posthumous solo exhibition, at Southampton's Tripoli Gallery. During this time, Glimcher worked with mentor Bill Paul, who strongly encouraged her to continue her research independently after completing medical school. However, since the closing (in January 2015), Mr. Market has been less thrilled with the new marriage. The company's Q1-15 dividend payout is $.25, so that translates to a payout ratio of around 55%. Michael has the experience, intelligence and energy to take Donahue Schriber to the next level and realize the companys full potential. To revist this article, visit My Profile, then View saved stories. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disneys Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. We will work together to take advantage of our combined platforms' relationships and scale, further enhancing our ability to capitalize on the opportunities and face the challenges that are confronting the retail industry.". Glimcher began his career in the industry nearly 30 years ago at Glimcher Realty Trust where he ultimately served as CEO from 2005 to 2017 and as Chairman from 2007 to 2015. "But I hired her and that was the start of it. His extensive industry experience and far-reaching relationships position him to step seamlessly into this role," said Barry Sternlicht, Chairman and CEO of Starwood Capital Group and Starwood Property Trust. Glimcher, 46, has been connecting the dots for two decades, first while running public relations and special projects for Pace Gallery and, more recentlysince her marriage to Marc Glimcher,. M/I Homes, Inc. is one of the nation's leading builders of single-family homes, having sold over 127,650 homes. "We were both swimming in the Chateau Marmont pool," she says. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. This press release features multimedia. Glimcher began his career in the industry nearly 30 years ago at Glimcher Realty Trust where he ultimately served as CEO from 2005 to 2017 and as Chairman from 2007 to 2015. In connection with the closing of the acquisition, Glimcher's shares will cease trading on the NYSE after January . ", "I'm excited to join the Starwood team, a brand that has been synonymous with success," Glimcher said. And after nearly a decade of marriage and two children, Marc, 49, and Andrea, 42, have honed teamwork that is the marital equivalent of a basketball no-look pass. Owned by Starwood Capital Group, Starwood Retail Partners is the fifth largest manager of regional malls in the United States, with 30 malls and lifestyle centers in 16 states across the country. Which way are you facing?' Donahue Schriber Names Michael Glimcher Chairman/CEO and President 500 Grant Street BNY Mellon Center, Suite 2000 Pittsburgh, Pennsylvania 15219, US JPMorgan Asset Management and the New York State Teachers Retirement System (NYSTRS) were among Donahue Schribers largest investors. Sandals, $655, Manolo Blahnik, 212-582-3007. Paraguay's President-elect Santiago Pena: puppet or pragmatist? Join the regions CRE leaders at Connect LA, May 3. "I got out of school and didn't know what to do. First Washington Realty picks up Costa Mesa-based developer's 47 shopping centers as western beachhead, From left: Michael Glimcher, president, chairman and CEO of Donahue Schriber; Alex Nyhan, CEO of First Washington Realty; the Donahue Schriber Headquarters at 200 Baker Street in Costa Mesa (First Washington Realty, Donahue Schriber, LoopNet). Graphs, and WPG Presentation. Analysts Disclosure: The author is long O, DLR, VTR, HTA, STAG, GPT, ROIC, HCN, OHI, LXP, KIM, WPC, DOC, EXR, MYCC, BX, TCO, SKT, UBA, STWD. One of my biggest concerns with WPG is the fact that the company has a very high exposure to two of the worst retail tenants today: Sears and J.C. Penney. And Andrea's very, very good at that level of counsel. They collaborate on everything from Pace business (like this month's seminal Mark Rothko/Hiroshi Sugimoto show in London) to entertaining their daughter, Katharine, seven, and two-year-old son, Alexander. She's very sophisticated., Like a planetary system that's still expanding, the art world manages to create new orbits and power relationships every few years. Biography of Michael Glimcher - The Official Board "And I win a lot." Donahue Schriber Names Michael Glimcher Chairman/CEO and President Janney Capital Markets analyst Michael Gorman explained (Source: SNL Financial): It was pretty well-believed that Washington Prime was in a position and had an appetite to make acquisitions. Glimcher serves on the Executive Board of Governors and the Governing Committee of the National Association of Real Estate Investment Trusts, is a former Trustee of the International Council of Shopping Centers and a member of the Real Estate Roundtable. [16][17] Glimcher's role helped discover Schnurri-3 (Shn3 for short) is a large zinc finger protein distantly related to Drosophila. The most active insiders traders include Robert H Schottenstein, Phillip G Creek, and J Thomas Mason. It's clear that the market has viewed the combined REIT transaction less favorably than it views the peers - not a good start for the newlyweds. All rights reserved. In southwest suburban Chicago Ridge, Starwood Retail runs Chicago Ridge Mall, an 888,000-square-foot property anchored by Sears, Kohl's and Carson's department stores. Glimcher Realty stockholders will receive $10.40 in cash and 0.1989 shares of Washington Prime stock for each Glimcher Realty share that they own. Washington Prime Group Completes Acquisition of Glimcher Realty Trust Both Glimcher and Halleran have most recently been with Starwood Retail Partners in Chicago. [4][5][6] Her research laboratory received funding from Merck & Co for a project focused on developing new therapies for the treatment of osteoporosis in 2008. Offering CRE focused continuing education courses on demand. (The secret: Marc can whip up balloon animals on request. The stairs spiral up, leading to a dining room in the round, filled with a circular mural by Adam Pendleton, who met Glimcher in 2011. Marc's "uncles" were renegade conceptualists Lucas Samaras and Robert Irwin, who "were always telling me what to do with my life," Marc remembers. Mr. Glimcher served as Chairman of the Board of Glimcher Realty Trust, a real estate investment trust, from September 2007 to January 2015 and Chief Executive Officer of Glimcher Realty Trust from January 2005 to January 2015.