- In Q1, Kimco (KIM) acquired five shopping centers totaling 900K square feet for a gross purchase price of $216M, including $113M of mortgage debt. Three of the acquisitions were buyouts of partners in joint ventures.
- Kimco in Q1 sold interests in 11 U.S. properties (7 wholly owned and 4 in JVs), totaling 1M square feet for a gross sales price of $63.7M, including $14M of mortgage debt. Kimco's proceeds from the sales was $42.1M. Company is negotiating contracts for the sale of another 33 properties, and has another 25 on the block.
- In Latin America, the company completed the sale of a nine-property retail portfolio in Mexico. "The transaction represents a major step in the company's disposition of its Latin American assets to focus on its portfolio in the U.S. and Canada."
- To review: Four years ago, Kimco began a project to sell non-core, limited growth properties in favor of high-quality shopping centers in key markets.
- Press release
From other sites
at CNBC.com (Dec 12, 2014)
at CNBC.com (Dec 4, 2014)
at CNBC.com (Mar 26, 2014)
at CNBC.com (Mar 24, 2014)
at CNBC.com (Jan 6, 2014)
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