Thu, Sep. 24, 9:25 AM
- 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
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