Kimco's (KIM) Q3 Deals Exceed $360M, Reshuffle Continues
Zacks Investment Research | Oct 11, 2016 09:30PM ET
Riding high on its portfolio transformation activities, Kimco Realty Corp. (NYSE:KIM) announced third-quarter 2016 deals worth over $360 million. The company remains on track with its strategic 2020 Vision, making premium asset purchase in key metro markets in the U.S., joint-venture buyouts and progressing on its simplification efforts. Specifically, the company has been reducing the number of joint ventures and trimming its Canadian portfolio.
Q3 Activity
Kimco’s third-quarter acquisitions totaled 1.0 million square feet of space, worth $292.8 million, of which the company’s share was $263.4 million. Particularly, this included the previously declared partner buyout of a four-property joint-venture portfolio for a gross price of $169.0 million, and the acquisition of the Kentlands Market Square (NYSE:SQ) shopping center for $95 million. (Read: Zacks Investment Research
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