Kimco Realty Sells 15 Shopping Centers for $215M in Q1 2012
Kimco Realty Corporation (NYSE: KIM) today announced that it completed 15 shopping center dispositions in the first quarter for $215.4 million, including the repayment of $83.7 million of mortgage debt.
The company sold 13 non-strategic properties totaling nearly 1.2 million square feet for $95.9 million, including the repayment of $1.3 million of mortgage debt. Generally, these properties were in locations outside of Kimco's target metropolitan statistical areas (MSAs). These transactions bring Kimco's total non-strategic shopping center sales to 53 properties totaling $289.3 million, including the repayment of $41.6 million of mortgage debt, since the company initiated this program in September 2010.
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