Seeking Alpha

Kimco sells interest in 9 Mexican properties

  • Kimco (KIM +0.3%) further narrows its Mexican exposure with an agreement to sell its 50% interest in a portfolio of nine retail properties plus land to Macquarie Mexican REIT for about $113.3M. Kimco is due additional monies if certain occupancy and rental growth thresholds are met eighteen months after closing.
  • The deal is expected to close early next year.
  • Press release
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