Grocery-anchored shopping centers, which were doing well before the pandemic hit, have retained their attraction to real estate investors that are finding prices for industrial and multifamily properties too high.
Acquisitions of grocery-anchored shopping centers are fueling growth in Retail REITs that are focused on "Necessity-Based" retail tenants that offer better risk-adjusted returns and may fare better than other sectors if the inflationary cycle produces a recession.
American Finance Trust, which announced Monday that it has completed its $547-million acquisition of 44 shopping centers from CIM Real Estate Finance Trust, also unveiled a new name that embodies its marketing strategy: The Necessity Retail REIT, which will trade on the Nasdaq as RTL.
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