Kimco Realty

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Kimco Realty Corporation
TypePublic company
NYSE: KIM
S&P 500 component
IndustryReal estate investment trust
Founded1958; 63 years ago (1958)
FoundersMilton Cooper
Martin Kimmel
HeadquartersJericho, New York
Key people
Milton Cooper, Chairman
Conor C. Flynn, CEO
Glenn G. Cohen, CFO
RevenueDecrease $1.044 billion (2020)
Increase $975 million (2020)
Total assetsIncrease $11.614 billion (2020)
Total equityIncrease $5.608 billion (2020)
Number of employees
484 (2020)
Websitewww.kimcorealty.com
Footnotes / references
[1]

Kimco Realty Corporation is a real estate investment trust that invests in shopping centers. As of December 31, 2020, the company owned interests in 400 U.S. shopping centers and mixed-use assets comprising 70.1 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[]

  1. ^ a b "Kimco Realty Corporation 2020 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. ^ Brueggeman, William (2016). Real estate finance and investments. New York, NY: McGraw-Hill Education. ISBN 978-0-07-337735-3. OCLC 908192655.
  3. ^ Pomerantz, Dorothy (March 10, 2008). "Beyond The Big Box". Forbes.
  4. ^ Kirkpatrick, David D. (January 14, 1998). "Kimco to Announce Pact to Acquire Price REIT for $535 Million in Stock". The Wall Street Journal.
  5. ^ "Kimco Realty Corporation Completes Acquisition of Mid-Atlantic Realty Trust" (Press release). Business Wire. October 1, 2003.
  6. ^ "Kimco to Buy Mid-Atlantic Realty Trust for $444 Million". The New York Times. Bloomberg news. June 19, 2003.
  7. ^ "Kimco Realty Corporation announces third quarter transaction activity" (Press release). Business Wire. October 8, 2007.
  8. ^ "Kimco Realty and Weingarten Realty Investors Announce Closing of Merger" (Press release). Business Wire. August 4, 2021.

External links[]

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