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Wheeler REIT Seeks Advisor For Strategic Review

Other steps it is taking include placing seven parcels of non-income producing land in Virginia and North Carolina on the market and closing its South Carolina office.

By Erika Morphy | Updated on February 08, 2018

A Wheeler REIT holding

VIRGINIA BEACH, VA–Days after Wheeler REIT‘s Board of Directors fired its former CEO Jon Wheeler and replaced him with David Kelly, the grocery-anchored real estate company gave shareholders an idea of what was happening behind the scenes.

Already, according to a statement by Kelly, the Board of Directors has begun the process of selecting an independent third-party advisor to assist in identifying options to maximize shareholder value. Meanwhile, “we have found through a comprehensive review that the company’s existing portfolio and organizational structure confirms our pre-existing belief that our real estate portfolio is solid and performing well,” he said.

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