ATLANTA, GA (May 29, 2012) – Strong balance sheets. Aggressive growth plans. Consistent dividends. And optimismabout their sector’s future. These are some of the characteristics of the five retail REITs highlighted in the most recent episode of “America’s Commercial Real Estate Show.”
The episode featured interviews with the REITs’ CEOs that were conducted by Bull Realty’s Brad Thomas (top right photo) at the recent RECon 2012 in Las Vegas. With more than 30,000 attendees, the event is the retail real estate industry’s largest conference and trade show.
Show host Michael Bull (top left photo), the founder and president of Bull Realty, began the show by noting this year’s RECon featured “a much more upbeat environment” than in the past several years. “There’s lots of capital in the investment market, and more tenants, encouraged by robust sales, are looking for space,” Bull said.
The first interview featured Stuart A. Tanz (middle right photo) CEO of Retail Opportunity Investment Corp., who also remarked on a busier RECon. “We’re experiencing a big increase in terms of meetings,” he said. “The demand from retailers in terms of appointments has been very strong.”
Tanz’s REIT owns 36 grocery- or drug-store-anchored shopping centers, primarily along the West Coast and the Eastern seaboard. The REIT is currently paying a 4.3 percent dividend and should have room to continue growing the dividend, Tanz added.
Steve Tanger (middle left photo), CEO of Tanger Factory Outlets, said his company, which recently expanded into Canada, sees tremendous growth potential for outlet malls generally and his company specifically. “We have virtually unlimited access to capital, so we can execute our growth plans without partners,” he said. “We are committed to growing. Our tenant demand has never been higher.”
Craig Macnab (lower right photo), CEO of National Retail Properties, noted his firm completed more than $200 million of acquisitions in the first quarter and added that the REIT is committed to being a safe investment. “There are many ways we do that,” he said. “If we keep a strong balance sheet, we’re never at the mercy of the capital markets.”
Meanwhile, American Realty Capital Trust, which focuses on single-tenant, net-leased properties occupied by credit tenants, features a portfolio with an average property age of 5.5years and an average remaining lease term of 13.5 years. “The quality of the tenant that pays our rent is very high,” added William M. Kahane (lower left photo), CEO of the firm.
Robert S. Taubman (bottom right photo), CEO of Taubman Centers Inc., detailed his firm’s recent growth into Puerto Rico and said the company has expansion plans for China and South Korea. “We are really delighted with where the company is both internally and externally,” Taubman said. “We grew right through the recession and here we are on the other side, taking advantage of the many opportunities right in front of us.”
The next “Commercial Real Estate Show” will be available May 31 and will provide an update on the assisted living and seniors housing real estate market.
Contact:
Stephen Ursery
Wilbert News Strategies
E-mail: sursery@wnspr.com
Office: (404) 965-5026
Cell: (404) 405-2354
No comments:
Post a Comment