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OAK BROOK, IL—You typically start hearing aboutdiversification when times get tough and real estate firms startscrambling for alternate revenue streams. RetailREIT RPAI is turning the tableson that notion, and ensuring that, as it works its strategic planof trimming back from 80 markets to 10 orpossibly 15, that it maintains a healthy mix ofmulti-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, butwe did experience some occupancy loss. So as we look to repositionthe portfolio and regain occupancy we're very focused on beingdiverse 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.
