logo
Share SHARE
FONT-SIZE Plus   Neg

Kimco Realty Disposes 15 Shopping Centers For $215.4 Mln

Kimco Realty Corp. (KIM) said Wednesday that it completed dispositions of 15 shopping centers for $215.4 million, including the repayment of $83.7 million of mortgage debt, in the first quarter.

The company sold 13 non-strategic properties totaling about 1.2 million square feet for $95.9 million, including repayment of $1.3 million of mortgage debt.

Kimco sold a joint-venture property located in Schaumberg, Ill, in which it had a 45 percent stake, for $118 million , including the repayment of $82.5 million or mortgage debt.

The company also sold another joint-venture property, in which it had a 50 percent interest, for $1.6 million.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
The Royal Bank of Scotland plans to cut 880 jobs from its IT department in London by 2020, a UK labor union reported. Britain's Unite union claimed on Tuesday that the bank informed its staff about a further 40 percent cut of permanent IT jobs, which is said to be part of ongoing deep cost-cutting at the taxpayer-owned bank. The bank also plans a 65 percent reduction of contractors. Discount-store operator Target, Inc. on Wednesday lifted its fiscal 2017 forecast for earnings and comparable sales after reporting higher comps in its second quarter. Net earnings in the quarter declined, while earnings from continuing operations increased with higher sales. Adjusted earnings per share as well as top line beat analysts' estimates. In pre-market, Target shares were up 6.4 percent. Shares of A.P. Moller-Maersk A/S were gaining around 4 percent in the morning trading in Denmark after the shipping and oil company maintained its forecast for higher profit in fiscal 2017, despite the expected negative impact from the June cyber-attack of up to $300 million. In its second quarter, the company slipped to a loss, compared to profit last year.
comments powered by Disqus
Follow RTT