NEW YORK CITY—RPT Realty experienced balanced success across all its disciplines as the company continued to refresh its portfolio, tenant mix, liquidity and balance sheet, all of which position the REIT to deliver on future earnings growth. "We closed on several high-quality acquisitions across all three of our strategic investment platforms, bringing our gross acquisition volume to $500 million in 2021," said president and CEO Brian Harper on the firm's Q3 earnings call.
He explained that the REIT continues to see strong demand for space in its centers and signed a number of key leases with well-capitalized tenants. And lastly, he said on the call that the REIT raised or received commitments on $670 million of capital from its equity, debt and joint venture partners, strengthening its liquidity profile and balance sheet.
Pertaining to the REIT's capital-raising efforts, Harper said with GIC's recent commitment of an additional $500 million to the REIT's core grocery-anchored R2G platform, that platform is positioned to scale up to $1.7 billion. "We believe this is an endorsement of RPT and our ability to create value. We are grateful to be in the company of top-tier REITs, like Ventas, Boston Properties, Equinix and others that have partnered with GIC. The new commitment provides us with the firepower to further accelerate our portfolio transformation while enhancing our management fee income stream."
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
