Kimco and Anthem Properties Expand Retail Joint Venture
Kimco Realty Corp. (NYSE: KIM) and Anthem Properties Group Ltd. (Anthem Properties) today announced the addition of the Millwoods Mainstreet shopping center in Edmonton, the capital city of Alberta, to their existing Canadian retail joint venture. This grocery-anchored center was acquired for $41.7 million Canadian dollars (US$42.4 million), including CA$26 million (US$26.4 million) of mortgage debt.
Millwoods Mainstreet, a 140,000-square-foot shopping center, is anchored by a 35,000-square-foot Sobeys, the second largest food retailer in Canada. The center is located in the established residential neighborhood of Millwoods, and serves a population within a 3-mile radius of approximately 121,000 with an average household income of CA$104,000.
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