28.10.2021 05:13:59

Kimco Realty, Blackstone Real Estate To Jointly Own Six Publix-Anchored Sunbelt Shopping Centers

(RTTNews) - Kimco Realty Corp. (KIM) said that it has acquired the remaining 70 percent interest in a portfolio of six Publix-anchored, Sunbelt region shopping centers from its existing joint venture partner, Jamestown, for a gross purchase price of $425.8 million.

In addition, Kimco entered into a joint venture partnership with Blackstone Real Estate Income Trust, Inc. or "BREIT" in which Kimco will own 50 percent of the portfolio, with BREIT owning the remaining 50 percent interest. Kimco will continue to manage the portfolio on behalf of the joint venture.

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