Today we’d like to introduce you to Ben Butcher.
Ben, can you briefly walk us through your story – how you started and how you got to where you are today.
The Company was founded to take advantage of a persisting inefficiency in the pricing of single tenant commercial RE assets – in particular, industrial assets. Individual assets are acquired at strong relative values and aggregated with other assets to create diversified portfolios that mitigate the individual asset risk/volatility.
The Company as founded in 2003 and executed on 5 private investment vehicles before going public in April of 2011 (NYSE listing). At the time of the IPO, the Company owned 93 buildings, had 18 employees and had an enterprise value of approximately $500 million.
Today, STAG Industrial owns approximately 350 buildings, employs 75 and has an enterprise value of approximately $4 billion. A lot of growth over 6 years … and the pace of growth continues.
Great, so let’s dig a little deeper into the story – has it been an easy path overall and if not, what were the challenges you’ve had to overcome?
The Global Financial Crisis presented a myriad of challenges. Our IPO process took about 19 months to complete
STAG Industrial – what should we know? What do you guys do best? What sets you apart from the competition?
We are highly analytic and shun decision rules in an industry (CRE) that treasures them, our agnostic approach to investment allows us to find plentiful opportunity for accretive transactions when our peers are complaining about the dearth of opportunity
We are most proud of the collaborative and collegial team we have built here at STAG.
What moment in your career do you look back most fondly on?
Probably the completion of the IPO process – it was a long road.
Contact Info:
- Website: www.stagindustrial.com
- Email: InvestorRelations@stagindustrial.com
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