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Retail Opportunity Investments Corp. Message Board

  • hajohn@bellsouth.net hajohn Jul 11, 2012 1:26 PM Flag

    Dog properties

    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.

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    • hajohn@bellsouth.net hajohn Aug 2, 2012 7:44 AM Flag

      OK, I suppose the strength of management can make this work. Several years ago I invested in a REIT whose name I can't remember. The plan was to turn around class b malls. Miserable failure.

    • 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.

      • 1 Reply to waltses
      • i agree----stuart tanz knows exactly what he is doing. he did it with pan pacific and has many friends, and people that want to do business with him.

        he is a great dealmaker and i would not call the properties 'dogs'-----they were really mis- managed and stuart knows how to buy them right.

        in real estate there is an expression "more money is made on the buy, rather than on the sell"

 
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