Bruce Schanzer, president and CEO of Cedar Realty Trust (NYSE: CDR), discussed some of the most recent developments at the shopping center REIT in an interview in the latest edition of the NAREIT Podcast.
Schanzer offered insight into what he considers to be the company's most significant achievements heading into the third year of his tenure as CEO. He noted that Cedar Realty Trust has "dramatically" repositioned its portfolio of property. Furthermore, he said he has tried to cultivate a collaborative culture throughout the company.
Schanzer also discussed the plans for capital raised in a recent secondary equity offering. Additionally, he explained Cedar Realty Trust's strategy for recycling capital and moving from "defense to offense" in terms of bringing new assets into the company's portfolio.
Lastly, he talked about the role of grocery-anchored shopping centers within investment portfolios and Cedar Realty Trust as a countercyclical investment play. "We're feeling pretty confident in our portfolio, almost irrespective of whatever the economy throws our way in the next few years," Schanzer said.