Kimco Realty

Last updated
Kimco Realty Corporation
Company type Public
NYSE:  KIM
S&P 500 component
Industry Real estate investment trust
Founded1958;67 years ago (1958)
FoundersMilton Cooper
Martin Kimmel
Headquarters Jericho, New York
Area served
 Contiguous United States and Puerto Rico
Key people
Milton Cooper (chairman)
Conor C. Flynn (CEO)
Glenn G. Cohen (CFO)
RevenueIncrease2.svg $2.037 billion (2024)
Decrease2.svg $410 million (2024)
Total assets Increase2.svg $20.309 billion (2024)
Total equity Increase2.svg $10.797 billion (2024)
OwnerMilton Cooper (1.6%)
Number of employees
717 (2024)
Website www.kimcorealty.com
Footnotes /references
[1]

Kimco Realty Corporation, headquartered in Jericho, New York, is a real estate investment trust that invests in shopping centers.

Contents

As of December 31, 2024, the company owned interests in 568 U.S. shopping centers and mixed-use assets comprising 101.1 million square feet of gross leasable space. [1]

History

The Kimco Corporation, the predecessor of the company, was founded in 1966 by a group of real estate investors, including Martin Kimmel and Milton Cooper, who merged their retail assets. This asset merger led to the new company being named Kim-co. The company was incorporated in 1973. [1]

In 1988, the company acquired Gold Circle for $325 million. [2]

In November 1991, the company became a public company via an initial public offering, raising $120 million. [1] [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 August 2021, the company acquired Weingarten Realty. [7]

In November 2022, the company acquired a portfolio of eight Long Island, NY shopping centers for $375.8 million. [8]

In January 2024, Kimco acquired RPT Realty, making the company the largest shopping center REIT. [9]

In October 2024, the company acquired Waterford Lakes Town Center for $322 million. [10]

References

  1. 1 2 3 4 "Kimco Realty Corporation 2024 Form 10-K Annual Report". U.S. Securities and Exchange Commission. February 21, 2025.
  2. ↑ Barmash, Isadore (September 8, 1988). "Kimco Buys Campeau's Gold Circle" . The New York Times .
  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 to Buy Mid-Atlantic Realty Trust for $444 Million" . The New York Times . Bloomberg news. June 19, 2003.
  6. ↑ Trainor, Tim (June 20, 2003). "Kimco To Buy Mid-Atlantic in $680M Deal" . CoStar Group .
  7. ↑ "Kimco Realty and Weingarten Realty Investors Announce Closing of Merger" (Press release). Business Wire. August 4, 2021.
  8. ↑ Rogers, Jack (November 10, 2022). "Kimco Buys Long Island Shopping Center Portfolio for $376M". GlobeSt.com.
  9. ↑ Fifelski, Anna (January 3, 2024). "Kimco Realty completes deal to buy owner of 8 Michigan shopping centers". Crain Communications .
  10. ↑ Fraser, Trevor; Ryzewski, Steven (October 2, 2024). "Waterford Lakes Town Center sells for $322 million" . American City Business Journals .
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