Michael Weil, CEO of Necessity Retail REIT, talks to Shopping Center Business about how RTL’s retail portfolio meets the needs of today’s consumers
NEW YORK, May 10, 2022 /PRNewswire/ — The Necessity Retail REIT, Inc. (Nasdaq: RTL/ RTLPP / RTLPO) (“RTL”) today announced that Michael Weillits CEO, was featured in a Shopping Center Business article focusing on the shopping habits of today’s consumers and how the company is able to meet those needs.
Mr Weil is quoted as saying: “We have seen necessity retail come through the pandemic in a very strong position. We have seen that there are communities across the country that depend on necessity retail, that whether independent, anchored in a grocery store or center of power, that’s where America is.”
“One of our biggest tasks was to build a recession-proof portfolio,” he notes. “We have always focused on credit underwriting and tenant business strategies, which are, of course, important. I never thought I would be tested by a pandemic. However, we have seen how the business and tenants performed well no bankruptcies nearly 100% rent collection This portfolio has been pandemic tested and has done tremendously well.
Links to the Shopping Center Business article, America’s Shopping Patterns Turn Suburban, and Retail Insight Newsletter are provided below:
About Necessity Retail REIT Where America Shops
The Necessity Retail REIT (Nasdaq:RTL) is the leading publicly traded real estate investment trust (REIT) focused on “Where America Shops”. RTL acquires and manages a diversified portfolio of primarily necessity-oriented single-tenant retail properties and open-air shopping centers in the United States. Additional information about RTL is available on its website at www.necessityretailreit.com.
Statements contained in this press release that are not historical facts may be forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause actual results or events to differ materially. The words “anticipate”, “believe”, “expect”, “estimate”, “project”, “plan”, “intend”, “may”, “will”, “seek”, ” would like” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are beyond the Company’s control, which could cause actual results to differ materially from those contemplated by the forward-looking statements. These risks and uncertainties include the potential adverse effects of the ongoing global COVID-19 pandemic, including measures taken to contain or treat COVID-19, on the Company, the Company’s tenants, any assets under contract to be acquired , including their respective tenants and the uncertainty and volatility in the global economy and financial markets due to, among other things, COVID-19 and the ongoing war in Ukraineall of which may adversely affect market conditions and the availability of capital, as well as the risks and uncertainties set forth in the Risk Factors section of the company’s annual report on Form 10-K for the year ended December 31, 2021 filed on February 24, 2022 and all other documents filed with the SEC after such date, as such risks, uncertainties and other important factors may be updated from time to time in subsequent reports by the Company. Forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update or revise any forward-looking statement to reflect changed assumptions, the occurrence of unforeseen events or changes in future operating results, except as required by law.
SOURCE The Necessity Retail REIT, Inc.