As long as US consumers are shopping, Schottenstein Realty will do a little shopping of its own. A self-administered and self-managed real estate company, Schottenstein Realty acquires and re-develops retail properties and shopping centers anchored by big-box stores. It prefers to acquire distressed or bankrupt properties in major metropolitan areas, invest in expansion and redevelopment, and then bring in large retailers like Wal-Mart, Bed, Bath & Beyond, and T.J. Maxx as tenants. Upon its 2010 formation, the company filed to go public and sought to qualify as a REIT (real estate investment trust). If all goes according to plan, Schottenstein Realty will own interests in some 156 properties in 27 states.