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8-K
WASHINGTON PRIME GROUP INC. filed this Form 8-K on 07/26/2018
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KEY GUIDANCE ASSUMPTIONS
 
 
Washington Prime Group Inc.
 
 
2018 Guidance
 
 
 
 
 
 
 
 
 
Fiscal Year 2018
 
 
 
Guidance
 
Earnings Expectations:
 
 
 
FFO per share, as adjusted - diluted (1)
 
 $1.48 to $1.56
 
FFO per share, as adjusted - diluted - third quarter
 
 $0.34 to $0.37
 
 
 
 
 
Underlying Assumptions to 2018 Guidance (1):
 
 
 
Comparable NOI growth for core properties- fiscal year 2018 (2) (3)
 
 approximately (1.0)%
 
General and administrative expenses (including property allocated overhead) (4)
 
 $58-$62 million
 
Non-cash adjustments for purchase accounting and straight line rents (3)
 
 $9-$11 million
 
Assumed property sales
 
None
 
Assumed joint venture transactions
 
None
 
Assumed acquisition
 
1 (Q218)
 
Assumed lender transitions (guidance excludes any related gain from debt extinguishment)
 
1 to 3 properties (Q418)
 
Gain from sale of outparcels (primarily relates to Four Corners first tranche)
 
$14.5 million in first half 2018
 
Redevelopment spend (3)
 
 $100 to $125 million
 
Recurring capital expenditures and deferred leasing costs (3)
 
 $70 to $80 million
 
Distributions per common share and units
 
 $0.25 per diluted share quarterly
 
 
 
 
 
 
 
 
 
(1) Guidance excludes any future gains on Four Corners outparcel sales
 
(2) Excludes NOI of approximately $14 to $15 million related to three noncore properties
 
(3) Includes pro-rata share of joint venture properties
 
 
 
(4) Includes $2 million of Q2 2018 severance cost related primarily to property management restructuring
 
 
 
 
 
 
 
 
 
 
 
 


SUPPLEMENTAL INFORMATION | 9

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