STORE Capital CEO Says REIT on Pace for $1 Billion in Acquisitions in 2018

Chris Volk, president and CEO of STORE Capital Corp. (NYSE: STOR), joined Nareit for a video interview at REITworld 2017.

STORE is an acronym for single-tenant operational real estate, which is the company’s target market.

Volk said STORE has achieved a monthly pace of about $100 million in acquisitions for the past three years. Looking to 2018, Volk said he expects STORE to be able to maintain that rate and exceed $1 billion in acquisitions for the year.

Meanwhile, Berkshire Hathaway’s move to take a 9.8 percent stake in STORE at the end of the second quarter underscores that REITs can be an “interesting place” for a generalist investor, Volk said.

Volk also highlighted the “enormous” opportunity STORE sees from investing in service-centered real estate.

“The service space has been the big driver for us. Retail less so, and then behind that manufacturing,” Volk said.