Innovators in Business: Milton Cooper, King of the R.E.I.T.
Strip shopping centers may not be the most glamorous type of commercial real estate. But they are a kind of “cash cow”– generating substantial rents for their owners year in and year out. Milton Cooper realized that could make them very attractive as investments. The only problem: conventional financing methods didn’t offer big institutions a way to quickly cash out of their real estate holdings.
NBR profiles Milton Cooper in the first of a new series of holiday programs on “Innovators of Business.” Anchor Susie Gharib will take an in-depth look at Cooper– who, at age 81, is still actively involved in major real estate decisions as Kimco’s Executive Chairman.