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OAK BROOK, IL—You typically start hearing about diversification when times get tough and real estate firms start scrambling for alternate revenue streams. Retail REIT RPAI is turning the tables on that notion, and ensuring that, as it works its strategic plan of trimming back from 80 markets to 10 or possibly 15, that it maintains a healthy mix of multi-tenant retail types.
“Our portfolio was acquired largely from 2004 to 2006,” president and CEO Steven Grimes tells GlobeSt.com. “We actually had a diverse portfolio going into the downturn, but we did experience some occupancy loss. So as we look to reposition the portfolio and regain occupancy we're very focused on being diverse in what we own, and what the right merchandise mix is.”
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John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
