Shopping Center Business

MAY 2015

Shopping Center Business is the leading monthly business magazine for the retail real estate industry.

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324 • SHOPPING CENTER BUSINESS • MAY 2015 Interview by Randall Shearin Inland American Real Estate Trust has become InvenTrust Properties. InvenTrust — New Name, Strong Player U pon learning the news that Inland American Real Estate Trust was changing its name, Shopping Center Business interviewed the company's Presi- dent and CEO, Tim McGuinness, just before presstime, to find out more about the change. SCB: We understand that Inland Ameri- can Real Estate Trust, Inc. changed its name to InvenTrust Properties. What prompted you to make this decision? McGuinness: As we emerged as a self- managed real estate investment trust, we initiated critical steps in our strategic plan to become a premier real estate company. We expanded our corporate infrastruc- ture with important senior level hires, and upgraded our technology, processes and systems. We are also distinguishing our- selves in the multi-tenant retail business by working in partnership and collaboration with our retailers for shared success. With all these activities, the time was right for us as an independent company to create and emphasize a brand illustrating our fundamentals and innovative strategies. SCB: What are your goals with Inven- Trust Properties? McGuinness: The differentiating char- acteristic of our company is that we know the open air retail center business and we understand how to work with our retailers to help them succeed. We are building on an existing platform that will allow us to continue to be a preferred partner for retail tenants of all sizes — from large na- tionals to local independents — we know how to partner with our tenants to help them succeed. SCB: Describe your current retail portfolio. McGuinness: As of December 31, 2014, we have 125 multi-tenant open air centers, including our joint venture prop- erties. InvenTrust Properties' centers are located in 24 states, with more than 18 million square feet of retail space. We are actively looking for investment opportuni- ties, particularly as retailers continue to place a premium on retail space at pre- mier properties in markets experiencing job, wage and population growth. SCB: How will the organization structure change at InvenTrust Properties? McGuinness: Our strategy is focused on key markets across the country, such as Dallas, Houston, Atlanta and Phoenix, where we have 'boots on the ground' at regional offices led by experienced pro- fessionals. We are continually evaluat- ing the expansion of our regional office presence to other key cities as we tailor and grow our portfolio. We will continue our concentration on people, processes and systems to enhance our experienced management team. We will continue to work hand-in-hand with our retailers for our mutual success. SCB: How will your retail portfolio be impacted by the name change to Inven- Trust Properties? McGuinness: Our new name will be a benefit to the operation of our company in many ways, including the fact that the name suggests all the ways we are running our business to benefit our tenants. We are bringing INnovation to our company by working with our tenants and other business partners in collaborative ways. VEN refers to the fact that we have venue and retail expertise. And TRUST is an important part of our value proposition with all of our stakeholders. We have a solid financial underpinning, we are a reli- able partner, we get deals done and we are a company focused on prudent growth. SCB: What challenges do you expect to encounter with the name change to Inven- Trust Properties? McGuinness: It always takes time for people to get used to something new, but we are excited to get the word out to the retail marketplace. I can tell you that our employees are very energized by the new branding. Importantly, our name 'Inven- Trust' reflects what we do and how we do it, and we think people will appreci- ate that. SCB: What does the future hold for In- venTrust Properties? McGuinness: We will nurture our multi- tenant open air centers, partnering with our retailers for success. We expect 2015 to be a year in which we continue to move our strategy forward with excellent balance sheet management and thoughtful capital allocation. We will also continue to work on building our independent brand to showcase our exceptional investment strat- egies and market approach. Our goal is to build a company that will have high quality, cash flowing properties that are positioned to maximize shareholder value. SCB: We understand that InvenTrust Properties is looking to acquire multi- tenant retail properties. What is your ac- quisition criteria? InvenTrust's Tulsa Hills Shopping Center in Tulsa, Oklahoma.

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