Drew Alexander, chairman, president, and CEO of Weingarten Realty (NYSE: WRI), participated in a video interview in conjunction with Nareit’s REITworld: 2020 Annual Conference.
Commenting on fundamentals facing Weingarten, Alexander noted that while there “certainly is a storm, we are in good shape.”
Occupancy is at 93%, cash collection has risen to 90%, and about 63% of tenants are deemed essential, Alexander noted.
Alexander also pointed out that Weingarten started a “significant transformation” several years ago, which included selling off weaker centers. “That positions us well. We’ve [also] got a great balance sheet, with no significant debt maturities for about two years,” he said.