Kimco Realty buys out partner for $67M
The exterior of Kimco Realty headquarters in New Hyde Park. (Jan. 6, 2011) Credit: Newsday / J. Conrad Williams Jr.
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.
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.
'It's personal to me' The law would require businesses to have proper state licensing, prove that their employees are paid and ban staff from living at the spas or sleeping there overnight. Repeat offenders could face penalties up to $25,000. NewsdayTV's Shari Einhorn has more.
'It's personal to me' The law would require businesses to have proper state licensing, prove that their employees are paid and ban staff from living at the spas or sleeping there overnight. Repeat offenders could face penalties up to $25,000. NewsdayTV's Shari Einhorn has more.
