Retail Properties of America - profile

Retail Properties of America, Inc., formerly Inland Western Retail Real Estate Trust, Inc. is a fully integrated, self administered and self-managed real estate company that owns and operates shopping centers. The Company is an owner and operator of shopping centers in the United States. 

As of December 31, 2011, its retail operating portfolio consisted of 259 properties with approximately 3.6 million square feet of gross leasable area (GLA), was diversified across 35 states and includes power centers, community centers, neighborhood centers and lifestyle centers, as well as single-user retail properties. The Company’s retail properties are located in retail districts. In August 2012, the Company sold a 1.04-million-square-foot Cost Plus Distribution Center in Stockton. In September 2012, it disposed 13 former Mervyns locations. As of December 31, 2011, it had a retail tenant base that includes approximately 1,500. In October 2012, it sold 18 non-core and non-strategic assets.

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Address

Suite 200 2021 Spring Road
OAK BROOK, IL 60523
United States 

Website links www.rpai.com

Key stats and ratios

	Q2 (Jun '13)	2012
Net profit margin	7.69%	-1.13%
Operating margin	31.76%	25.84%
EBITD margin	-	64.94%
Return on average assets	0.86%	-0.11%
Return on average equity	1.43%	-0.30%
Employees	250

Retail Properties of America Inc aims to sell up to $439 million in IPO

Retail Properties of America Inc., the former Inland Western Retail Real Estate Trust Inc., expects to sell as much as $439 million in shares in a stock offering the company launched Friday.

The real estate investment trust (REIT) is offering 31.8 million Class A shares at an expected price of $10 to $12 a share, or $318 million to $381.6 million, according to a registration statement. The investment banks underwriting the offering also have the option to buy another 4.8 million shares, pushing the potential total to $438.8 million.

The shopping center owner, founded by the Inland Group Inc. in 2003, is a non-listed public REIT, meaning its shares don’t trade on a stock exchange. Retail Properties plans to sell the shares as part of a phased-in program to provide investors an opportunity to cash out. The company recently completed a reverse stock split and one-time stock dividend in preparation of the offering.

The company’s shares, which are set to trade on the New York Stock Exchange, are expected to price April 4, according to Bloomberg News. A company executive declines to comment.