Executive Vice President & Chief Investment Officer, Stag Industrial
Search every verified Michael Chase interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. In a September 2017 interview, Michael Chase, then Executive Vice President and Chief Investment Officer of STAG Industrial, discussed the company's acquisition strategy. Chase stated that with an improving cost of capital and plentiful opportunities, he expected the company's acquisition pace to accelerate. He noted that STAG targeted buying between $200 and $250 million, or about 25 properties, in the second quarter of that year. Regarding asset sales, Chase said the company is "always looking to sell assets where someone else thinks the asset's worth more than we do," but added that STAG is "not a very active seller." Chase also addressed the company's funds from operations (FFO), which rose five percent in the quarter. He attributed the increase to the cost of capital, the accretive nature of acquisitions, and operating leverage. He described an advantage in deploying assets through the company's people and processes to "creatively acquire assets."
“With their cost of capital improving and with the opportunities pretty plentiful out there, I think we actually may accelerate. We targeted in the second quarter buying between 200 and 250 million, something in order of 25 properties in the second quarter, so I think you'll see the pace accelerate.”
“We're always looking to sell assets where someone else thinks the asset's worth more than we do in our portfolio. Having said that, we're not a very active seller.”
“STAG's FFO was up five percent in the quarter. What was driving that? Well, it's a partially cost of capital and the accretive nature of our acquisitions. That's due in some part to our operating leverage. We have quite an advantage in terms of deploying the assets, the people, persons, and processes that we have in pl...”
Ben Butcher sees “pretty plentiful” opportunities to buy.
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