KIMCO’s Retail Market Expertise is a
Our joint venture program leverages off Kimco’s long history of retail property investing, local market expertise and strong tenant relationships to create value for our institutional investors and shareholders.
INSTITUTIONAL PARTNER DETAIL
Kimco's Competitive Advantages
- Entrepreneurial management team with over 50 years of experience
- Significant sponsor co-investment of 10% to 50% or more
- Established, long-term relationships with thousands of national and international retailers
– 15,000 leases and 7,800 tenants
- History of delivering excellent investment returns to joint venture partners and fund investors
- Strong financial position — S&P BBB+ | Moody's Baa1 | Fitch BBB+
- Identify growth markets with strong real estate fundamentals and invest opportunistically
- Source investments through strong relationships with existing partners and strong local developers and operators
- In-depth market evaluation
- Intense underwriting and due diligence with a disciplined approach to risk
- Create ideal capital structure
- Pro-active property, asset and construction management
- Well thought-out exit strategy (disposition or refinance)
- 1998 – Kimco Income REIT (KIR) - Company's first institutional investor fund, 59 properties today and significant unrealized gains in the portfolio.
- 2001 – Kimco Retail Opportunity Portfolio, a joint venture with GE Real Estate, achieved a total of 39 properties. Generated an IRR of 35.9 % for client.
- 2002 – Konover Property Trust, acquisition and liquidation in joint venture on behalf of Lazard. Generated an IRR in excess of 25%.
- 2004 – Kimco Income Fund (KIF I) commingled fund format with 12 properties.
- 2004 – PL Retail, acquired Price Legacy REIT in JV with client. Portfolio originally consisted of 33 properties, 7 are now in new JVs and 15 are currently in the REIT.
- 2005 – UBS Wealth Management and Kimco form joint venture to acquire high quality shopping centers. Portfolio consists of 43 properties totaling 6.3 million square feet.
- 2007 – Mexico Retail Land & Development Fund launched to acquire well located land parcels well suited for future retail development. Equity commitments totaled approximately $325 million.
- 2008 – Kimco Income Fund II (KIF II) commingled fund format with 14 properties, totaling 2 million square feet.
- 2010 – Formed strategic joint ventures with Canada Pension Plan, BIG Shopping Centers, and Cisterra.
Institutional Partner Team Contact
Senior Vice President
Portfolio & Risk Management
405 Lexington Avenue
New York, NY 10174 (US)