Type | Private |
---|---|
Industry | Real estate investment trust |
Founded | 1975 |
Founder | Dennis Gershenson, Michael Ward, Joel Gershenson, Richard Gerhsenson and Bruce Gershenson |
Defunct | January 2, 2024 |
Headquarters | New York, NY |
Key people | Brian Harper, CEO |
Products | Open-air shopping centers |
Revenue | $2`7 million (2022) |
$84 million (2022) | |
Total assets | $1.946 billion (2022) |
Total equity | $978 million (2022) |
Number of employees | 138 (2022) |
Footnotes /references [1] |
RPT Realty was a real estate investment trust that owned and operated open-air shopping centers. As of December 31, 2022, the company owned 44 wholly-owned shopping centers, 13 shopping centers owned through its grocery anchored joint venture, and 48 retail properties owned through its net lease joint venture comprising 15 million square feet. In 2024, the company was acquired by Kimco Realty. [1] The company was formerly known as RAMCO Properties Trust and Ramco-Gershenson Properties Trust.
In 1955, Aaron & William Gershenson founded A & W Management Company. [2]
In 1975, William Gershenson's four sons, Joel, Dennis, Richard, and Bruce Alan, along with Mike Ward, founded Ramco Gershenson, with each partner responsible for a different division of the Company. [2] [3] In the late 1970s and early 1980s, the company developed 35 Kmart stores. [2]
In 1996, the company merged with RPS Realty Trust and became a public company via a reverse merger, changing its name to Ramco-Gershenson Properties Trust. [2]
In 2004, the company acquired 7 properties for $138.3 million. [4]
The company changed its name to RAMCO in May 2018 [5] and RPT Realty in October 2018. [6]
On January 2, 2024, the company was acquired by Kimco Realty. [7]
Brookfield Properties is a North American subsidiary of commercial real estate company Brookfield Property Partners, which itself is a subsidiary of alternative asset management company Brookfield Asset Management. It is responsible for the property management of the company's real estate portfolio, which includes facilities in the office, multi-family residential, retail, hospitality, and logistics industries.
GGP Inc. was an American commercial real estate company and the second-largest shopping mall operator in the United States. It was founded by brothers Martin, Matthew and Maurice Bucksbaum in Cedar Rapids, Iowa in 1954, and was headquartered in Chicago, Illinois from 2000. It was subject to the largest real estate bankruptcy in American history at the time of its filing in 2009.
Simon Property Group, Inc. is an American real estate investment trust that invests in shopping malls, outlet centers, and community/lifestyle centers. It is the largest owner of shopping malls in the United States and is headquartered in Indianapolis, Indiana. Worldwide, it owns interests in 232 properties as of 2021.
Colonial Properties Trust was a publicly traded diversified real estate investment trust headquartered in Birmingham, Alabama. In October 2013, the company was acquired by Mid-America Apartment Communities.
Forest City Realty Trust, Inc., formerly Forest City Enterprises, was a real estate investment trust that invested in office buildings, shopping centers and apartments in Boston, Chicago, Dallas, Denver, Los Angeles, Philadelphia, and the greater metropolitan areas of New York City, San Francisco and Washington, D.C. The company was organized in Maryland with its headquarters in Cleveland, Ohio. As of December 31, 2017, the company owned 29 office buildings, 29 shopping centers, and 78 apartment complexes. On December 7, 2018, the company was acquired by Brookfield Asset Management.
SITE Centers Corp. is a publicly traded real estate investment trust that invests in shopping centers. Founded in 1965 by Bert Wolstein, the company is headquartered in Beachwood, Ohio. As of December 31, 2019 the company owned interests in 170 shopping centers in the United States containing 57.0 million square feet and managed 13.2 million square feet for Retail Value Inc. Notable properties wholly owned by the company include Shopper's World in Framingham, Massachusetts. Its major tenants include retailers such as TJX Companies, PetsMart, Dick's Sporting Goods, Ulta Beauty, Ross Stores, and Nordstrom.
RioCan Real Estate Investment Trust is the second-largest real estate investment trust (REIT) in Canada. It has an enterprise value of approximately $14 billion, and owns 289 primarily retail properties, with a net leasable area of 44 million square feet. The company properties are located across Canada. The current chief executive officer is Jonathan Gitlin.
Cedar Realty Trust, Inc. is a real estate investment trust that invests in shopping centers. It is a subsidiary of Wheeler Real Estate Investment Trust. As of December 31, 2022, the company owned 19 properties with 2.9 million square feet of leasable space primarily in the Northeastern United States, including 7 properties in Pennsylvania. The company's major tenants are TJX Companies, Kohl's, Shaw's, Dollar Tree, and Walmart. The only notable property owned by the company is The Shoppes at Trexler.
Kimco Realty Corporation is a real estate investment trust that invests in shopping centers. As of March 31, 2022, the company owned interests in 537 U.S. shopping centers and mixed-use assets comprising 93 million square feet of gross leasable space.
Tanger Inc. is a real estate investment trust headquartered in Greensboro, North Carolina, that invests in shopping centers containing upscale outlet stores in the United States and Canada.
Regency Centers Corporation is a real estate investment trust based in Jacksonville, Florida and is one of the largest operators of shopping centers with grocery stores as anchor tenants. As of October 21, 2020, the company owned 415 properties comprising 56 million square feet of space. Notable properties owned by the company include Serramonte Center and a 30% interest in Village District.
Glimcher Realty Trust was a real estate investment trust based in Columbus, Ohio that invested in shopping malls. In 2015, the company was acquired by Washington Prime Group.
Jackson Crossing, formerly Paka Plaza, is one of two enclosed shopping malls serving the city of Jackson, Michigan in the United States. It opened in 1960 and has been renovated in the 2000s. Anchor stores include Target, Kohl's, Best Buy, and TJ Maxx.
First Potomac Realty Trust was a real estate investment trust that invested in industrial properties and business parks in the suburbs of the Washington metropolitan area. In 2017, it was acquired by Government Properties Income Trust.
JBG SMITH Properties is a publicly traded real estate investment trust based in Bethesda, Maryland.
Veris Residential, Inc. is a real estate investment trust headquartered in Jersey City, New Jersey, that invests primarily in residential real estate in New Jersey.
Weingarten Realty Investors was a real estate investment trust that invested in shopping centers, primarily in the Southern United States and primarily with grocery stores as the anchor stores. In August 2021, the company was acquired by Kimco Realty.
Brixmor Property Group is a publicly traded real estate investment trust that invests in shopping malls. As of December 31, 2022, the company owned 373 shopping malls containing 66 million square feet of retail space. The company's largest markets are Florida, California, and Texas. The company's largest tenants are TJX Companies, Kroger, and Burlington.
Washington Prime Group Inc. is an American real estate investment trust that invests in shopping centers. The company is organized in Indiana with its headquarters in Columbus, Ohio. From January 2015 to September 2016, the company had the name WP Glimcher. On June 13, 2021, Washington Prime filed for Chapter 11 bankruptcy.
Federal Realty Investment Trust is a real estate investment trust that invests in shopping centers in the Northeastern United States, the Mid-Atlantic states, California, and South Florida.