1315_REITworld_Chris Bilotto_2021-11-8_v1
12/13/2021 | by Diane Rusignola

Chris Bilotto, president and COO of Office Properties Income Trust (Nasdaq: OPI), participated in a video interview in conjunction with Nareit’s REITworld: 2021 Annual Conference.

Bilotto discussed an aspect of OPI’s strategy that focuses on leasing primarily to single tenants and government tenants, noting that the REIT has 178 properties across 23 million square feet in the U.S.

“Given the last couple of years...having a well-balanced portfolio has done well for us and allowed us to get where we are today,” he said. “We feel really confident that we’ll continue to produce good results given the makeup of the portfolio.”

Turning to a discussion from OPI’s third quarter 2021 earnings call, Bilotto elaborated on specific tactics the REIT is using to enhance its portfolio operating metrics and financial performance, zeroing in on OPI’s capital recycling program.

“The goal there is to exit out of markets where we don’t feel like we can grow NOI, or selling buildings that are more capital-intensive, older assets—and really reinvesting those proceeds into newer buildings and growing markets,” he said.

Bilotto noted that OPI’s recent property acquisitions in Chicago and Atlanta were strategic moves for the REIT in order to enter those markets, but that the company is “looking at all markets.”

“With those particular assets, if you look at the characteristics, they really embody the many qualities and characteristics, both from location and asset quality, that we are looking at,” he said.