Washington Prime Group Inc. (NYSE: WPG) today reported financial and operating results for the third quarter ended September 30, 2016. Third Quarter Results Net income attributable to common shareholders for the third quarter of 2016 was $1.4 million, or $0.01 per diluted share, compared to $4.1 million, or $0.02 per diluted share, a year ago. The decrease in net income relates primarily to a $10.8 million increase in impairment charges compared to the third quarter of 2015 related to the Company's four remaining noncore properties. This decrease was partially offset by $4.7 million of savings in general and administrative costs and $2.8 million of lower merger, restructuring and transaction costs compared to the third quarter of 2015. Funds from Operations (FFO)¹ for the third quarter of 2016 were $100.8 million, or $0.46 per diluted share. This compares to $98.5 million, or $0.45 per diluted share, during the same quarter a year ago. Merger, restructuring and transaction costs of $(0.3) million and $2.4 million for the three months ending September 30, 2016 and 2015, respectively, are excluded from adjusted FFO (AFFO)¹. When excluding these items, AFFO for the third quarter of 2016 was $100.5 million, or $0.46 per diluted share, which compares to $101.0 million, or $0.46 per diluted share for the third quarter of 2015. Comparable net operating income (NOI)¹ for the Company's core portfolio increased 0.6% during the third quarter of 2016, compared to the same period a year ago, in line with internal expectations. Comparable NOI for the community center portfolio increased 6.9% during the third quarter, compared to a year ago. The comparable NOI decline of 1.4% for the core enclosed retail properties primarily related to vacated space and rental rate reductions from retailer bankruptcies during the quarter, significant downtime at Jefferson Valley Mall due to the redevelopment project, and a delay of sponsorship revenue. These factors negatively impacted the NOI growth for core enclosed retail properties by approximately 2.4% in the third quarter of 2016.