Retail Properties of America, Inc. (NYSE:RPAI) Q4 2018 Earnings Conference Call Transcript
Feb 13, 2019 • 11:00 am ET
Greetings, and welcome to the Retail Properties of America Fourth Quarter 2018 Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. (Operator Instructions) As a reminder, this conference is being recorded.
I would now like to turn the conference over to your host Mike Gaiden, Vice President, Investor Relations for Retail Properties of America. Thank you. You may begin.
Thank you operator, and welcome to the Retail Properties of America fourth quarter 2018 earnings conference call. In addition to the press release distributed last evening, we have posted a quarterly supplemental package with additional details on our results in the INVEST section on our website at www.rpai.com.
On today's call, management's prepared remarks and answers to your questions may include statements that constitute forward-looking statements under Federal Securities laws. These statements are usually identified by the use of words such as anticipates, believes, expects and variations of such words or similar expressions. Actual results may differ materially from those described in any forward-looking statements, including in our guidance for 2019 and will be affected by a variety of risks and factors that are beyond our control, including, without limitation, those set forth in our earnings release issued last night and the risk factors set forth in our most recent Form 10-K, 10-Q and other SEC filings. As a reminder, forward-looking statements represent Management's estimates as of today, February 13th, 2019 and we assume no obligation to update publicly any forward-looking statements whether as a result of new information, future events or otherwise.
Additionally, on this conference call, we may refer to certain non-GAAP financial measures. You can find a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP numbers and definitions of these non-GAAP financial measures in our quarterly supplemental package, our earnings release and our 2018 Investor Day presentation, which are available in the INVEST section of our website at www.rpai.com.
On today's call, our speakers will be Steve Grimes, Chief Executive Officer; Julie Swinehart, Executive Vice President, Chief Financial Officer and Treasurer; and Shane Garrison, President and Chief Operating Officer. After their prepared remarks, we'll open up the call to your questions.
With that, I will now turn the call over to Steve Grimes.
Steven P. Grimes
Thanks, Mike. We would like to officially welcome you to the team and your first of many earnings calls, you're doing a great job. I would like to begin my prepared remarks by highlighting some of the many accomplishments reached by the RPAI team during 2018. We completed our multi-year portfolio transformation during the second quarter. Our repositioning, which more than half of our property count resulted in the high quality retail portfolio we own today.
Our 105 asset operating portfolio is comprised of approximately 80% neighborhood community and lifestyle mixed-use centers and contains a significant amount of embedded growth opportunities. We have over 425,000 square feet of commercial GLA and nearly 1,200 multi-family rental units contained in our announced expansions