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After an active year for disposals in 2013, mall REIT Macerich (NYSE: MAC) remains focused on pruning its least productive assets in order to plough funds back into higher-quality retail developments.
“We want to be the best in terms of quality,” said Art Coppola, Macerich chairman and CEO, in an interview with REIT.com. “We think we’re going to have a powerhouse of a company, and we’re very happy with the direction that we’re going.”
Phillips Edison-ARC Shopping Center REIT Inc., a public, non-listed REIT focused on grocery-anchored neighborhood shopping centers, plans to vigorously pursue acquisitions throughout 2014 in order to enhance tenant and geographic diversity.
“We’ve got a very robust pipeline. We continue to have a strong capital flow, so we anticipate being active buyers throughout the year,” said Jeff Edison, Phillips Edison-ARC’s CEO, in an interview with REIT.com.
As EPR Properties (NYSE: EPR) continues to build its diverse portfolio of properties, the specialty REIT is also looking to capitalize on other property sectors undergoing a transformation.
EPR Properties holds assets in areas such as entertainment, recreation and education. In an interview with REIT.com, David Brain, EPR Properties president and CEO, said that when it comes to exploring new investment options, “the modus operandi is the important thing, not necessarily the property type or use type” for his company.
Eric Bolton, chairman and CEO of apartment REIT MAA (NYSE: MAA), joined REIT.com for a video interview at the St. Regis Hotel in Washington, D.C. during NAREIT’s 2014 Washington Leadership Forum.
Last year MAA merged with Colonial Properties Trust. Bolton was asked to describe the progress of the merger.
“The process is going very well. We’re well into the integration of the back office systems. We expect to have almost all the systems complete by the time we get to late spring, early summer,” Bolton explained.
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