In the latest episode of The REIT Report: NAREIT’s Weekly Podcast, Jeff Miller, executive vice president and COO of health care REIT Welltower, Inc. (NYSE: HCN), discussed the evolution of the company’s sustainability program and the opportunities for better sustainability practices in the health care real estate sector.
Consumers have long demonstrated their fondness for customer loyalty programs across a wide variety of businesses, from major airlines to hotels to coffee shops around the corner. In a bid to push foot traffic across their portfolios, retail REITs are now turning to loyalty programs that gives customers instant access to promotions and cash-back rewards around their malls and shopping centers.
REITs and their tenants get real-time insight into the spending patterns of their customers in the process.
Federal Realty owns, operates and redevelops retail real estate around the country. Brown discussed some of the particular challenges faced by a shopping center REIT in the area of sustainability.