Weingarten Realty
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.[1] In August 2021, the company was acquired by Kimco Realty.
| Industry | Real estate investment trust |
|---|---|
| Founded | 1948 |
| Defunct | August 4, 2021 |
| Fate | Acquired by Kimco Realty |
| Headquarters | Houston, Texas |
Key people | Stanford Alexander, Chairman Andrew M. Alexander, CEO Stephen C. Richter, CFO |
| Revenue | $433 million (2020) |
| $118 million (2020) | |
| Total assets | $3.961 billion (2020) |
| Total equity | $1.800 billion (2020) |
Number of employees | 243 (2020) |
| Footnotes / references [1] | |
As of December 31, 2020, the company owned interests in 159 properties comprising 30.2 million square feet.[1] In 2020, 20.6% of the company's revenues were generated from properties in the Houston area and 30.4% of the company's revenues were generated from properties in Texas.[1]
History edit
In the 1880s, Hersch Harris Weingarten, a poor Jewish immigrant from Łańcut (what was then Austria-Hungary),[2] started a grocery business in Houston called Weingarten's.[3]
In 1948, Joseph Joe Weingarten, the eldest son of Harris Weingarten founded Weingarten Realty to build stores for his father's business.[3] In 1980, Safeway Inc. purchased the grocery operations.[3]
In 1985, the company became a public company via an initial public offering.[3]
In 2002, the company acquired 3 shopping centers for $46.2 million.[4][5]
In 2012, the company sold all of its industrial assets for $382.4 million.[6]
In August 2021, Kimco Realty acquired the company.[7]
References edit
- ^ a b c d "Weingarten Realty Investors 2020 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
- ^ "Hersch, Harris Weingarten 1854-1934". MyHeritage.
- ^ a b c d Keenan, Charles (November 11, 2016). "Weingarten Realty Investors is a Family Affair". National Association of Real Estate Investment Trusts.
- ^ "Weingarten adds three shopping centers". American City Business Journals. December 20, 2002.
- ^ "Raleigh shopping center part of $46.2M in deals". American City Business Journals. December 20, 2002.
- ^ Dawson, Jennifer (April 11, 2012). "Weingarten Realty selling $382.4M in assets". American City Business Journals.
- ^ "Kimco Realty and Weingarten Realty Investors Announce Closing of Merger" (Press release). Business Wire. August 4, 2021.