STAG Industrial Continuing to Acquire Assets
Ben Butcher, CEO of STAG Industrial, Inc. (NYSE: STAG), joined REIT.com for a CEO Spotlight video interview at REITWeek 2016: NAREIT’s Investor Forum at the Waldorf Astoria New York.
STAG is a Boston-based REIT focused on the acquisition and operation of single-tenant, industrial properties throughout the United States.
Butcher noted that STAG will continue to be a net acquirer of assets this year. STAG will likely sell at least one small portfolio of million to million in 2016 to help provide capital for continued acquisitions, he said.
Asked whether the company is still considering joint venture deals, Butcher replied that the strategy had made sense when STAG’s share price dipped. The company needed alternative sources of capital to continue its acquisition program.
“It doesn’t make sense for us or our shareholders when our stock is priced appropriately,” he added.
Meanwhile, Butcher explained that STAG refers to itself as a “virtual industrial park” because the portfolio is diversified by geography, industry, tenant and lease expiration.
8/8/2016 | By Sarah Borchersen-Keto
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