Profile: Weingarten Realty Investors (WRI)
27 Mar 2015
Weingarten Realty Investors, incorporated on 1948, is a real estate investment trust (REIT). The Trust’s primary business is leasing space to tenants in the shopping centers they own or lease. The Trust is engaged in ownership and development of shopping centers and other commercial real estate. The Trust also provides property management services for joint ventures in which they are partners or are other outside owners. The Trust is in the business of owning, managing and developing retail shopping centers. The Trust’s focuses on owning and operating neighborhood and community shopping centers in markets of the United States. The Trust also focuses on operating through decentralized operating platform built on local expertise in leasing and property management as well as selective redevelopment of the existing portfolio of properties. The Trust’s other focus is on growth from acquisitions and new developments, and disposition of assets not meeting ownership criteria. The Trust invests the proceeds from dispositions for repaying debt, purchasing new assets and reinvesting in owned assets as well as for other corporate purposes.
At December 31, 2013, the Trust owned and operated under long-term leases, directly as well as through interest in real estate joint ventures and partnerships. The Trust owned 268 developed income-producing properties and two properties under various stages of construction and development. The portfolio of properties contains approximately 49.9 million square feet of gross leasable area that is either owned by the Trust or others. The Trust also owns interests in 35 parcels of land held for development that totaled approximately 26.4 million square feet.
Weingarten Realty Investors
2600 Citadel Plaza Dr Ste 300
HOUSTON TX 77008-1315