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RPT Realty

Defunct real estate investment trust

Field	Value
name	RPT Realty
logo	File:2021 RPT Realty Logo.png
type	Private
industry	Real estate investment trust
foundation
defunct
location	New York, NY
founder	Dennis Gershenson
Michael Ward
Joel Gershenson
Richard Gerhsenson
Bruce Alan Gershenson
key_people	Brian Harper, CEO
products	Open-air shopping centers
revenue	$2`7 million (2022)
net_income	$84 million (2022)
assets	$1.946 billion (2022)
equity	$978 million (2022)
num_employees	138 (2022)
footnotes

Michael Ward Joel Gershenson Richard Gerhsenson Bruce Alan Gershenson

RPT Realty was a real estate investment trust that owned and operated open-air shopping centers. As of December 31, 2022, the company owned 44 wholly owned shopping centers, 13 shopping centers owned through its grocery anchored joint venture, and 48 retail properties owned through its net lease joint venture comprising 15 million square feet. In 2024, the company was acquired by Kimco Realty. The company was formerly known as RAMCO Properties Trust and Ramco-Gershenson Properties Trust.

History

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

In 1975, William Gershenson's four sons, Joel, Dennis, Richard, and Bruce Alan, along with Mike Ward, founded Ramco Gershenson, with each partner responsible for a different division of the Company. In the late 1970s and early 1980s, the company developed 35 Kmart stores.

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.

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

The company changed its name to RAMCO in May 2018 and RPT Realty in October 2018.

On January 2, 2024, the company was acquired by Kimco Realty.

References

"Ramco-Gershenson Properties Trust 2022 Form 10-K Annual Report". [[U.S. Securities and Exchange Commission]].
Frantz, John. (October 1, 2000). "Wall Street's well-kept secret". [[National Real Estate Investor]].
(July 2, 2010). "Richard Gershenson Obituary". [[Detroit News]].
(November 25, 2004). "RAMCO-GERSHENSON TO BUY SHOPPING CENTERS IN FLORIDA". [[The New York Times]].
(May 2, 2018). "Ramco-Gershenson Properties Trust Unveils New Corporate Brand". [[Globe Newswire]].
(October 31, 2018). "RAMCO Properties Announces Name Change to RPT Realty". [[Globe Newswire]].
(January 2, 2024). "Kimco Realty® Closes Acquisition of RPT Realty". [[Business Wire]].

Info: Wikipedia Source

This article was imported from Wikipedia and is available under the Creative Commons Attribution-ShareAlike 4.0 License. Content has been adapted to SurfDoc format. Original contributors can be found on the article history page.

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