Kimco Realty, Big Shopping Centers buy $422 million retail portfolio

06/14/2010 | Globes (Israel)

Kimco Realty and Israel-based Big Shopping Centers have formed a joint venture to acquire 15 U.S. retail centers for $422 million. Kimco is the majority owner, with a 50.1% stake. The shopping centers -- which are located in California, Nevada, Oregon, Washington and Maryland -- have $385 million in six-year nonrecourse loans associated with them. Big and Kimco are kicking in the remaining $37 million of equity.

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Globes (Israel)

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