Weingarten Realty Investors (NYSE: WRI) announced today transaction activity for all of 2017 and for year-to-date 2018.

During the fourth quarter of 2017, the Company sold six shopping centers and other real estate for $230.2 million including Market at Town Center in Houston, Buena Vista Marketplace and Summerhill Plaza in California, Green Valley Ranch Towne Center in Denver and Flamingo Pines Plaza in Florida. The Company also sold Danville Plaza Shopping Center in Monroe, Louisiana which completes the Company’s exit from Louisiana. For all of 2017, WRI sold $444 million with the disposition of 19 shopping centers and other real estate.

Thus far in 2018, the Company has closed an additional $74 million in dispositions with the sale of two shopping centers including Moore Plaza and Horne Street Market in Texas.

The disposition pipeline remains very active with over $175 million currently under contract and scheduled to close before quarter end, although no assurance is given that these transactions will close under these terms or at all. WRI anticipates that the disposition volumes for 2018 could be similar to 2017.

As for acquisitions in 2017, the Company purchased $1.9 million in two land parcels which are adjacent to existing shopping centers and no acquisitions have been closed to-date in 2018.

The Company invested $124 million in new developments and redevelopments in 2017 and expects to spend a similar amount in 2018 including the groundbreaking for its 30-story residential tower at its River Oaks Shopping Center in 2018.

“While the recent disposition volume will reduce Funds From Operations in the short-term, Weingarten remains focused on maximizing long-term value to our shareholders. Our dispositions improve the overall quality of our portfolio by reducing exposure to tertiary markets and power centers and provide capital for future growth including our redevelopment and new development programs. WRI continues to underwrite quality acquisitions; the competitive market resulted in modest acquisitions in 2017, unlike 2016 when we acquired over $500 million of quality shopping centers,” said Drew Alexander, President and Chief Executive Officer.

About Weingarten Realty Investors

Weingarten Realty Investors (NYSE:WRI) is a shopping center owner, manager and developer. At December 31, 2017, the Company owned or operated under long-term leases, either directly or through its interest in real estate joint ventures or partnerships, a total of 204 properties which are located in 17 states spanning the country from coast to coast. These properties represent approximately 41.3 million square feet of which our interests in these properties aggregated approximately 26.4 million square feet of leasable area. To learn more about the Company’s operations and growth strategies, please visit www.weingarten.com.

Forward-Looking Statements

Statements included herein that state the Company’s or Management’s intentions, hopes, beliefs, expectations or predictions of the future are “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995 which by their nature, involve known and unknown risks and uncertainties. The Company’s actual results, performance or achievements could differ materially from those expressed or implied by such statements. Reference is made to the Company’s regulatory filings with the Securities and Exchange Commission for information or factors that may impact the Company’s performance.