Search
 

Weingarten Changes Strategy

HOUSTON-The strip-center REIT says its will begin a merchant building initiative and joint venture program this year.

By Jennifer D. Duell | Updated on February 27, 2006

HOUSTON-In a move that shifts its growth strategy from acquisitions, Weingarten Realty Investors’ CEO Drew Alexander said the REIT would pursue two new initiatives–merchant building and joint ventures. The announcement was made during Weingarten’s fourth quarter and year-end 2005 earnings conference call.

Alexander said during the call that the change in strategy is compelled by changing market conditions. Specifically, continued demand from retailers, the competitive acquisition environment and higher construction costs.

Joint-venture programs will be finalized by mid-year, Alexander said. “These relationships will allow us to become more proactive in the acquisition market,” he noted, adding that the REIT plans to acquire $200 million to $250 million this year for its portfolio and more than $300 million for the joint-venture program.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.