sq. ft. under management
Our portfolio represents one of the highest quality collections of retail assets in the market today and is focused on urban communities and is concentrated in New York, San Francisco, Los Angeles, and South Florida. As of June 30, 2015, our consolidated shopping center portfolio comprised 124 properties, with a total market capitalization (including debt and equity) of $4.6 billion.
Transformation of established, highly valuable retail locations through redevelopment
Nimble, aggressive, and efficient operation of our core, high quality portfolio
Thoughtful funding, including consistently low leverage and active capital recycling
Maintaining a best-in-class team through meritocratic pay and strong corporate culture
Fostering a spirit of partnership with the local communities in which we operate through collaborative and transparent project planning and sustainable operations
Keeping a constant eye on our environmental impact in all aspects of our business
Long-term thinking defines our investment strategy. Our focus is on properties that have reached the end of their original development life and are ready for a re-birth, often stitching together community retail, multifamily housing, specialty office and local boutiques into a sustainable mixed-use design.
Our properties have enormous, primarily coastal geographic reach, and represent a wide range of retail formats. This diversity mitigates a wide range of potential risks. Our portfolio may be diverse, but one aspect remains constant across all assets: quality of location. We own locations where huge volumes of retailers and customers alike feel the need concentrate commerce and where there are a limited number of choices in which to conduct that activity.
We believe endurance of investor returns – our top priority – depends on sustainable approaches to strategy and competitive advantage, corporate governance, employees, communities in which we locate, and of course the environment. We strive for a fully integrated approach to sustainability in which conservation and strong employee culture are treated with the same priority as squeezing every last dollar of income out of our core portfolio.
It’s our people who envision the plan and get the job done. We recruit top-tier talent and maintain a workplace that inspires creativity, rewards execution and respects opinions. Our company values are important to us because they drive shareholder value. Our business has many transactions during the course of a year, but they are all part of a process, and teams of talented people lead that process.