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Kimco Realty Disposes 15 Shopping Centers For $215.4 Mln

Kimco Realty Corp. (KIM: Quote) 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

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