Steven Grimes, CEO of Retail Properties of America, Inc. (NYSE: RPAI), participated in a video interview at Nareit’s REITweek: 2018 Investor Conference in New York.
Grimes discussed the changes that have occurred at the company over the last five years, notably the reduction in assets from about 300 to 106. He said the remaining assets offer a “tremendous amount” of growth opportunities.
Turning to the retail sector more broadly, Grimes noted that sentiment appears to have turned more positive in recent weeks. He noted that the omnichannel shopping concept has “definitely created a smarter retailer” that is investing wisely to keep their brand alive and well. “I think it’s going to be good for the long run.”
As for balance sheet matters, Grimes said the absence of debt maturities in the next three years, in addition to a significant line of credit, will allow the company to be opportunistic. “We’re the healthiest we’ve ever been,” he noted.