Weingarten Realty Investors acquired Deerfield Mall in South Florida for $92.75 million

HOUSTON, 2016-May-11 — /EPR Retail News/ — Weingarten Realty Investors (NYSE: WRI), a leading owner, manager and developer of shopping centers, announced today that it acquired Deerfield Mall, a 394,000 square foot, Publix-anchored center located in the South Florida community of Deerfield Beach (Fort Lauderdale MSA) for $92.75 million. The center is anchored by strong national and regional tenants including a dominant Publix, T.J. Maxx, Marshalls, Cinépolis, and Ulta Beauty. The shopping center serves the dense and affluent communities in northern Broward County and southern Palm Beach County, including Deerfield Beach, Boca Raton, and Coconut Creek.

Deerfield Mall is the Company’s largest asset in South Florida and complements the existing portfolio of 16 grocery-anchored centers. The shopping center’s in-place rents are below market, which will allow redevelopment over the next several years.

Year-to-date, the Company’s acquisitions total $136.3 million.

“We are extremely pleased with the addition of this signature asset, Deerfield Mall, to our South Florida portfolio. It has a strong tenant line up and future growth potential,” said Drew Alexander, President and Chief Executive Officer.

About Weingarten Realty Investors
Weingarten Realty Investors (NYSE: WRI) is a shopping center owner, manager and developer. At March 31, 2016, the Company owned or operated under long-term leases, either directly or through its interest in real estate joint ventures or partnerships, a total of 227 properties which are located in 18 states spanning the country from coast to coast. These properties represent approximately 44.5 million square feet of which our interests in these properties aggregated approximately 27.6 million square feet of leasable area. To learn more about the Company’s operations and growth strategies, please visit www.weingarten.com.

Forward-Looking Statements

Statements included herein that state the Company’s or Management’s intentions, hopes, beliefs, expectations or predictions of the future are “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995 which by their nature, involve known and unknown risks and uncertainties. The Company’s actual results, performance or achievements could differ materially from those expressed or implied by such statements. Reference is made to the Company’s regulatory filings with the Securities and Exchange Commission for information or factors that may impact the Company’s performance.

Weingarten Realty Investors
Michelle Wiggs, (713) 866-6050
Vice President of Investor Relations

Source: Weingarten Realty Investors

Weingarten Realty Investors announces transactions for the fourth quarter and full year of 2015 and introduces 2016 guidance

HOUSTON, 2016-Jan-20 — /EPR Retail News/ — Weingarten Realty Investors (NYSE: WRI) announced today the transactions for the fourth quarter and full year of 2015. The Company also increased 2015 guidance and introduced 2016 guidance.

Transactional Activity

During the fourth quarter, Weingarten Realty acquired two properties for $33.5 million. The Company acquired Westside Center located in Los Angeles, California, which has incredibly strong demographics including a 3-mile trade area boasting over 320,000 people, average household incomes over $112,000, and over 65% of the population with college degrees. The center is a future redevelopment opportunity directly across from Macerich’s Westside Pavilion. In addition, the Company acquired a property adjacent to its flagship River Oaks shopping center in Houston, Texas, which has average household incomes over $135,000 in a 3-mile trade area. This property will be part of the future redevelopment of the River Oaks shopping center.

During the fourth quarter, the Company sold four properties and other real estate for $33.5 million including Fresh Market Shoppes and Town and Country Center in South Carolina and Oklahoma, respectively. These sales complete the Company’s exit from the each of these states.

For the full year of 2015, WRI acquired eight properties for $267.8 million and sold 15 income producing properties and other real estate for $126.4 million.

Subsequent to year-end, the Company sold Rainbow Plaza in Las Vegas for $65.5 million.

“We are pleased with our 2015 transactions, both our acquisitions and dispositions. Consistent with our previously announced strategy to focus the portfolio, the sales in 2015 resulted in our exiting three states. We are especially proud of our acquisition success. We bought several great redevelopment properties and added strong assets to the portfolio,” said Drew Alexander, President and Chief Executive Officer.

Guidance

The Company is increasing its 2015 full-year Recurring FFO guidance from a range of $2.16 to $2.18 per diluted share to a range of $2.17 to $2.19 per diluted share and Reported FFO guidance from a range of $2.04 to $2.06 to a range of $2.06 to $2.08 per diluted share.

The Company is introducing 2016 guidance as follows:

Initial Full-Year 2016 Guidance
Recurring Funds from Operations per Common Share – diluted $2.27 – $2.31
Reported Funds from Operations per Common Share – diluted $2.26 – $2.31
Same Property NOI increase with redevelopments 3.5% – 4.5%
Same Property NOI increase without redevelopments 2.5% – 3.5%
Dispositions ($000s) $125,000 – $225,000
Acquisitions ($000s) $125,000 – $225,000
Re / New Development investment ($000s) $50,000 – $100,000

As it relates to operations for 2016, Johnny Hendrix, Executive Vice President and Chief Operating Officer, said, “We are expecting another strong year of operations from our portfolio. We are continuing to push rents in all markets and improving the quality of our properties through re-tenanting and redevelopment efforts.”

With respect to our disposition assumptions for 2016, Steve Richter, Executive Vice President and Chief Financial Officer, said, “The markets are currently in some state of flux and it is possible we could take advantage of conditions and choose to be opportunistic with sales that might exceed the above guidance.”

About Weingarten Realty Investors
Weingarten Realty Investors (NYSE: WRI) is a shopping center owner, manager and developer. At September 30, 2015, the Company owned or operated under long-term leases, either directly or through its interest in real estate joint ventures or partnerships, a total of 232 properties which are located in 20 states spanning the country from coast to coast. These properties represent approximately 45.9 million square feet of which our interests in these properties aggregated approximately 28.3 million square feet of leasable area. To learn more about the Company’s operations and growth strategies, please visit www.weingarten.com.

Forward-Looking Statements
Statements included herein that state the Company’s or Management’s intentions, hopes, beliefs, expectations or predictions of the future are “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995 which by their nature, involve known and unknown risks and uncertainties. The Company’s actual results, performance or achievements could differ materially from those expressed or implied by such statements. Reference is made to the Company’s regulatory filings with the Securities and Exchange Commission for information or factors that may impact the Company’s performance.

Weingarten Realty Investors
Michelle Wiggs, 713-866-6050

Source: Weingarten Realty Investors

Weingarten Realty Investors CEO Drew Alexander will present at the Bank of America Merrill Lynch 2015 Global Real Estate Conference

HOUSTON, 2015-9-10 — /EPR Retail News/ — Weingarten Realty Investors (NYSE: WRI) announced today that Drew Alexander, President and Chief Executive Officer, will present at the Bank of America Merrill Lynch 2015 Global Real Estate Conference in New York, New York on Thursday, September 17th at 2:45 PM Eastern Time. To listen to the presentation, please use the web link information below:

Date: Thursday, September 17, 2015

Time: 2:45 pm – 3:20 pm ET

Web Link: http://www.veracast.com/webcasts/baml/realestate2015/id84103256095.cfm

Listen via Webcast

This call will be webcast live at www.weingarten.com and can be accessed under the Investor Relations tab of the Company’s website.

About Weingarten Realty Investors

Weingarten Realty Investors (NYSE: WRI) is a shopping center owner, manager and developer. At June 30, 2015, the Company owned or operated under long-term leases, either directly or through its interest in real estate joint ventures or partnerships, a total of 232 properties which are located in 20 states spanning the country from coast to coast. These properties represent approximately 45.3 million square feet of which our interests in these properties aggregated approximately 28.0 million square feet of leasable area. To learn more about the Company’s operations and growth strategies, please visit www.weingarten.com.

Weingarten Realty Investors
Michelle Wiggs, (713) 866-6050
Vice President of Investor Relations

Source: Weingarten Realty Investors