Kimco Realty buys out partner for $67M

The exterior of Kimco Realty headquarters in New

The exterior of Kimco Realty headquarters in New Hyde Park. (Jan. 6, 2011) Photo Credit: Newsday / J. Conrad Williams Jr.

advertisement | advertise on newsday

Kimco Realty Corp. bought out an undisclosed partner in two real estate portfolios for $67 million, the New Hyde Park-based real estate investment trust announced Monday.


advertisement | advertise on newsday

The investment increased the company's stake in the groups of commercial properties -- 13.9 million square feet of shopping centers and retail space -- though it remains less than 50 percent.


Kimco and its subsidiaries have investments in a dozen joint ventures holding 667 commercial properties, according to its first-quarter earnings report. The investment announced Monday concerns portfolios of 60 properties in 23 states including New York.


As of March 31, Kimco had a financial interest in 1,719 properties in North and South America.

The latest LI business news in your inbox daily. Get the Biz Briefing newsletter!

Comments now uses Facebook for our comment boards. Please read our guidelines and connect your Facebook account to comment.

You also may be interested in: