Michael Weil, CEO of The Necessity Retail REIT, Inc. (Nasdaq: RTL), participated in a video interview in conjunction with Nareit’s REITweek: 2022 Investor Conference in New York on June 7-9.
Weil explained that the REIT closed on a $1.3 billion portfolio of open air shopping centers “that really positioned us for all of 2022.” He also noted that physical stores are an integral part of the retail landscape, as national retailers adopt an omnichannel approach.
As for key priorities for the rest of 2022, Weil pointed to the continued integration of the portfolio, a focus on the leasing pipeline, as well as growth in the portfolio.
Weil also pointed to the REIT’s diverse portfolio of over 1,000 properties as a key reason to invest in the company today. “The quality of real estate always matters.”