Feldman Mall Properties, Inc. Announces Resignation of Thomas Wirth, President and Chief Financial Officer

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FELDMAN MALL PROPERTIES, INC. Financials

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FELDMAN MALL PROPERTIES, INC. Files SEC form 8-K, Entry into a Material Definitive Agreement

ITEM 1.01 Entry into a Material Definitive Agreement. Redemption of 6.85% Series A Cumulative Convertible Preferred Stock On November 14, 2008, the Company, FMP Stratford LLC, FMP Stratford JCP Parcel LLC, FMP Northgate LLC, FMP Northgate Outparcel LLC and FMP Denton LP, each an indirect subsidiary of the Company, and Inland American Real Estate Trust, Inc. ("Inland") entered into a Letter Agreement (the "Letter Agreement") which contemplates that the Company will repurchase from Inland 2,000,000 shares of 6.85% Series A Cumulative Convertible Preferred Stock (the "Series A Preferred Stock") and receive from Inland $9.125 million in cash. In exchange, Inland will receive title to the Stratford Square Mall, located in Bloomingdale, Illinois, Northgate Mall, located in Cincinnati, Ohio, and the Golden Triangle Mall, located in Denton, Texas (collectively, the "Malls"). Inland will assume, subject to agreement with lenders, the mortgage indebtedness secured by the Malls. The Letter Agreement, which remains subject to the approval of the Boards of Directors of both the Company and Inland, contains standard representations, warranties, covenants and closing conditions. The transactions contemplated by the Letter Agreement are referred to herein as the "Inland Transaction". The foregoing description of the Letter Agreement is qualified in its entirety by reference to the text of the Letter Agreement, which is attached hereto as Exhibit 10.1 and is incorporated herein by reference. Upon the completion of the Inland Transaction, the Company will own interests in four retail malls: (i) Harrisburg Mall, located in Harrisburg, Pennsylvania, (ii) Colonie Center Mall, located Albany, New York, (iii) Foothills Mall, located in Tucson, Arizona and (iv) the Tallahassee Mall, located in Tallahassee, Florida, which was placed in receivership as of November 12, 2008 as described under Item 8.01 below. Management believes that, if the Company is able to ...
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