Seeking Alpha

Wheeler closes on acquisitions

  • Wheeler REIT (WHLR) closes on five grocery-anchored shopping centers totaling about 262K square feet for a combined price of $15.8M, or $60.38 per square foot. The average occupancy is 91% and the purchases were made using a combination of cash and debt.
  • The company has nearly tripled its property portfolio since going public a little more than a year ago, notes CEO Jon Wheeler. The stock's off about 28% in its short history.
  • Press release
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