Kimco unwinds Canadian JV

• Kimco (NYSE:KIM) will sell its interest in a Canadian JV owning 35 properties to its JV partner RioCan Real Estate Investment Trust (OTCPK:RIOCF).
• The move is inline with Kimco's strategy to simplify its business by, among other things, reducing the amount of properties it owns in JVs.
• The sale will take place in stages, and the disposition of the initial 19 properties will result in cash proceeds to Kimco of about $220M.
• Source: Press Release