Saturday, September 26

Kimco To Sell Up to $500M Shares

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New Hyde Park-real estate investment trust Kimco Realty  plans to sell up to $500 million in shares, raising money for a wide range of purposes.

The company said it created a “continuous offering program” allowing it to sell $500,000,000 in stock through various investment banks.

These include Morgan Stanley & Co., Barclays Capital, Bank of America Securities, Citigroup Global Market, Deutsche Bank Securities among others.

The company intends to use the money for general corporate purposes,  possible acquisitions, paying down debt and research and development.

Kimco is one of North America’s largest publicly traded owners and operators of open-air shopping centers As of June 30, 2019, the company owned interests in 428 shopping centers and mixed-use assets in the nation including, 74.6 million square feet of leasable space.


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