REIT Washington Prime Group (WPG) has refinanced 4 properties at the rock bottom rate of 3.67%– interest only loan due in 2029. The company paid off a 7.50% coupon note.
It would appear that the press release was squarely aimed at Brad
Thomas who has claimed the company has little access to low cost capital.
We only mention this because the company has 2 preferred issues outstanding with current yields of around 8.50%. These issues can be seen here. These are not in our personal wheelhouse–but for the more adventuresome maybe there is opportunity.