Kimco Realty: Difference between revisions
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'''Kimco Realty Corporation''' is a [[real estate investment trust]] that invests in [[shopping centers]]. As of |
'''Kimco Realty Corporation''' is a [[real estate investment trust]] that invests in [[shopping centers]]. As of March 31, 2022, the company owned interests in 537 U.S. shopping centers and mixed-use assets comprising 93 million square feet of gross leasable space.<ref name=10K/> |
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Kimco Realty was the first public [[vertically integrated]] REIT designed to be internally managed and advised, providing its own property and asset management.<ref name="Brueggeman">{{cite book | last=Brueggeman | first=William | title=Real estate finance and investments | publisher=McGraw-Hill Education | publication-place=New York, NY | year=2016 | isbn=978-0-07-337735-3 | oclc=908192655 | page=}}</ref> |
Kimco Realty was the first public [[vertically integrated]] REIT designed to be internally managed and advised, providing its own property and asset management.<ref name="Brueggeman">{{cite book | last=Brueggeman | first=William | title=Real estate finance and investments | publisher=McGraw-Hill Education | publication-place=New York, NY | year=2016 | isbn=978-0-07-337735-3 | oclc=908192655 | page=}}</ref> |
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Revision as of 19:43, 5 May 2022
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| Company type | Public company |
|---|---|
| NYSE: KIM S&P 500 component | |
| Industry | Real estate investment trust |
| Founded | 1958 |
| Founders | Milton Cooper Martin Kimmel |
| Headquarters | Jericho, New York |
Key people | Milton Cooper, Chairman Conor C. Flynn, CEO Glenn G. Cohen, CFO |
| Revenue |  $1.044 billion (2020) |
 $975 million (2020) | |
| Total assets | $11.614 billion (2020) |
| Total equity | $5.608 billion (2020) |
Number of employees | 484 (2020) |
| Website | www |
| Footnotes / references [1] | |
Kimco Realty Corporation is a real estate investment trust that invests in shopping centers. As of March 31, 2022, the company owned interests in 537 U.S. shopping centers and mixed-use assets comprising 93 million square feet of gross leasable space.[1]
Kimco Realty was the first public vertically integrated REIT designed to be internally managed and advised, providing its own property and asset management.[2]
History
Kimco Realty Corporation was founded in 1966 by a group of real estate investors, including Martin Kimmel and Milton Cooper, who merged their retail assets, thus the company's name of Kim-co.
In 1991, the company became a public company via an initial public offering, raising $120 million.[3]
In 1998, the company acquired Price REIT for $535 million in stock.[4]
In October 2003, the company acquired Mid-Atlantic Realty Trust for $441 million.[5][6]
In 2007, the company acquired Birchwood Development Company for $92 million.[7]
In August 2021, the company acquired Weingarten Realty.[8]
References
- ^ a b "Kimco Realty Corporation 2020 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
- ^ Brueggeman, William (2016). Real estate finance and investments. New York, NY: McGraw-Hill Education. ISBN 978-0-07-337735-3. OCLC 908192655.
- ^ Pomerantz, Dorothy (March 10, 2008). "Beyond The Big Box". Forbes.
- ^ Kirkpatrick, David D. (January 14, 1998). "Kimco to Announce Pact to Acquire Price REIT for $535 Million in Stock". The Wall Street Journal.
- ^ "Kimco Realty Corporation Completes Acquisition of Mid-Atlantic Realty Trust" (Press release). Business Wire. October 1, 2003.
- ^ "Kimco to Buy Mid-Atlantic Realty Trust for $444 Million". The New York Times. Bloomberg news. June 19, 2003.
- ^ "Kimco Realty Corporation announces third quarter transaction activity" (Press release). Business Wire. October 8, 2007.
- ^ "Kimco Realty and Weingarten Realty Investors Announce Closing of Merger" (Press release). Business Wire. August 4, 2021.
External links
- Business data for Kimco Realty Corporation: