SOURCE: Feldman Mall Properties Inc

October 01, 2010 16:01 ET

Feldman Mall Properties, Inc. Announcements

NEW YORK, NY--(Marketwire - October 1, 2010) -

Feldman Mall Properties, Inc. (PINKSHEETS: FMLP) made the following announcements:

Preferred Shares Repurchase

The Closing Date for the Company's repurchase of 2,000,000 shares of 6.85% Series A Cumulative Convertible Preferred Stock, liquidation preference $25.00 per share, from Inland American Real Estate Trust, Inc. ("Inland") has been extended from September 30, 2010 to December 31, 2010. All of the remaining terms and conditions contained and set forth in the June 10, 2010 Preferred Shares Repurchase Agreement between the Company and Inland remain the same. 

Golden Triangle Mall 

The Management Agreement dated July 6, 2010 between JP Morgan Chase Bank N.A. (the "Bank") and Feldman Equities Management LLC relating to the Golden Triangle Mall, was terminated by the Bank effective August 31, 2010. 

About Feldman Mall Properties, Inc.

The Company's shares of common stock are quoted on Pink OTC Markets, a privately-owned company formerly known as Pink Sheets, which operates Pink Quote. Following foreclosure of the Golden Triangle Mall, and excluding the Northgate Mall, located in Cincinnati, Ohio, which is in receivership, the Company will continue to own one (1) regional mall, Stratford Square, located in Bloomingdale, Illinois, and containing 1.3 million square feet. For more information on Feldman Mall Properties Inc., visit the Company website at www.feldmanmall.com.

Contact Information

  • CONTACT:
    FELDMAN MALL PROPERTIES, INC.
    John F. Dougherty, Jr.
    Senior Vice President and General Counsel and Secretary
    (215) 564-8084
    1065 Avenue of the Americas, 19th Floor
    New York, NY 10018