RPT Realty

'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 December 31, 2019, the company owned 49 shopping centers comprising 11.9 million square feet.[1]

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

Notable properties owned by the company include River City Marketplace in Jacksonville, Florida, The Shops on Lane Avenue in Upper Arlington, Ohio, Woodbury Lakes in Woodbury, Minnesota, and Webster Place in Chicago.

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. "Ramco-Gershenson Properties Trust 2019 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. 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.
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