Inland American Real Estate Trust, Inc. has a new name. The public, non-traded real estate investment trust is now InvenTrust Properties Corp. (InvenTrust).
The name change follows a portfolio spin-off and a move to self management announced in 2014.
“Following the successful completion of our self-management transactions and the spin-off of our lodging platform, we believe the time is right to highlight and develop a brand that is independent from our sponsor,” said Thomas P. McGuinness, President and Chief Executive Officer of InvenTrust.
He added, “Our new name is consistent with our multi-tenant retail strategy to bring innovation and invention to the way we operate our open air centers.”
With the new name, comes a new logo and branding message.
InvenTrust aims to distinguish itself as a leader in the open air shopping center space and intends to symbolize “the energy, collaboration, forward motion and growth potential” of the company through its interfacing half-circle designed logo.
“We are distinguishing ourselves in the retail business by working in partnership and in collaboration with our retailers for shared success. With our leadership team’s extensive retail experience, we are building a strong foundation for our company and earning a reputation for reliability with our business partners,” commented McGuinness.
InvenTrust’s portfolio consists of 108 multi-tenant retail properties with 15.5 million square feet of aggregated retail space across 24 states, plus, University House Communities, the REIT’s student housing business, owns 14 properties with five more in development. Additionally, InvenTrust owns 6.4 million square feet of office and industrial buildings.
Major tenants include AT&T, Inc., which accounts for 15.5 percent of the REIT’s total annualized income, Lockheed Martin, Best Buy, Publix, Petsmart, Bed Bath & Beyond, and Dick’s Sporting Goods.
“We are excited about the growth prospects for our Company as we move forward and implement our strategy and introduce the name InvenTrust Properties to our customers, business partners, investors, lenders and other stakeholders,” McGuinness added. “We are working to make 2015 a year of successful execution through excellent balance sheet management and thoughtful capital allocations.”
InvenTrust employs 287 full-time people as of December 31, 2014.