RPT Realty

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RPT Realty
TypePublic company
NYSE: RPT
S&P 600 component
IndustryReal estate investment trust
Founded1955; 67 years ago (1955)
FounderAaron & William Gershenson
HeadquartersNew York, NY
Key people
 Brian Harper, CEO
ProductsOpen-air shopping centers
RevenueDecrease $234 million (2019)
Increase $91 million (2019)
Total assetsDecrease $1.918 billion (2019)
Total equityIncrease $848 million (2019)
Number of employees
104 (2019)
Websiterptrealty.com
Footnotes / references
[1]

RPT Realty, formerly known as RAMCO Properties Trust and Ramco-Gershenson Properties Trust, is a publicly traded real estate investment trust that owns and operates open-air shopping centers. As of August 4, 2021, the company owned 50 shopping centers comprising 12.6 million square feet.[1]

Notable properties owned by the company include The Shops on Lane Avenue in Upper Arlington, Ohio; Woodbury Lakes in Woodbury, Minnesota; Bedford Marketplace in Bedford, Massachusetts; Lakehills Plaza in Austin, Texas; River City Marketplace in Jacksonville, Florida; Mission Bay Plaza in Boca Raton, Florida; The Crossroads in Royal Palm Beach, Florida; Coral Creek Shops in Coconut Creek, Florida.

History[]

In 1955, Aaron & William Gershenson founded A & W Management Company.[2]

In 1975, William Gershenson's four sons, Joel, Dennis, Richard and Bruce Alan, along with associate Mike Ward, took over leadership of the company, with each son responsible for a different division.[2][3] In the late 1970s and early 1980s, the company developed 35 Kmart stores.[2]

In 1996, the company merged with RPS Realty Trust and became a public company via a reverse merger, changing its name to Ramco-Gershenson Properties Trust.[2]

In 2004, the company acquired 7 properties for $138.3 million.[4]

In 2017, the company was added to the S&P 600.[5]

On May 2, 2018, the company changed its name to RAMCO.[6]

On October 31, 2018, the company changed its name to RPT Realty.[7]


References[]

  1. ^ a b "Ramco-Gershenson Properties Trust 2019 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. ^ a b c d Frantz, John (October 1, 2000). "Wall Street's well-kept secret". National Real Estate Investor.
  3. ^ "Richard Gershenson Obituary". Detroit News. July 2, 2010.
  4. ^ "RAMCO-GERSHENSON TO BUY SHOPPING CENTERS IN FLORIDA". The New York Times. November 25, 2004.
  5. ^ "Ramco-Gershenson Properties Set to Join S&P SmallCap 600" (Press release). PR Newswire. May 5, 2017.
  6. ^ "Ramco-Gershenson Properties Trust Unveils New Corporate Brand" (Press release). Globe Newswire. May 2, 2018.
  7. ^ "RAMCO Properties Announces Name Change to RPT Realty" (Press release). Globe Newswire. October 31, 2018.

External links[]

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