2015 Year in Review - Michael Carroll

What was your most notable project, deal, transaction or professional achievement in 2015? In 2015, we continued to achieve significant progress around our “Raising the Bar” initiative, an ongoing program to maximize value in our portfolio and transform our merchandise mix with best-in-class anchors. As of September 30th, 2015, we have completed 44 projects (representing approximately $141 million of investment), which have generated $27 million of incremental NOI from investment returns and follow-on leasing, approximately $565 million of value creation and approximately 50 basis points of cap rate compression. With 48 projects underway and 98 in our future pipeline, we are optimistic our Raising the Bar program will continue to increase the NAV of our portfolio.