I own a small amount of this company and am hopeful. However, I looked at the company website and it's obvious many of the properties are dogs or poorly located, judging by the huge number of vacancies in some. I hope the price paid was equal to the property purchased. I won't add until I get a little more confidence in the quality of the portfolio.
Yeah, Chris Mayer said in his "Capital & Crisis", an Angora pub : Its plan is to acquire “irreplaceable” shopping centers anchored by grocers (like Safeway and Kroger) and drug chains (like Walgreens). Tanz is a dealmaker with a nose for value. And this is the blueprint he used for Pan Pacific. ROIC prefers to buy property a little beat up, in which some cash and elbow grease can improve the deal. An example: ROCI bought a 100,000-square-foot plaza in Santa Ana, Calif., in January 2010. Occupancy was 89% and rents yielded 8.2% on the property. Ten months later, after ROIC did its thing, the plaza was 98% leased and it paid 9.7%. There are lots of opportunities to do this today.