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Kimco Eyes Vehicle Focused on Market Disruptions

Shopping center REIT Kimco Realty Corp., headquartered in Jericho, NY, said Monday that it’s exploring an opportunity to sponsor a separate investment vehicle. The initiative is focused on raising capital to invest in retail real estate-related opportunities that arise from market disruptions affecting retailers and the retail real estate sector, including the ongoing disruption caused by the COVID-19 pandemic.

The REIT said it intends to invest approximately $50 million to $100 million in the separate investment vehicle upon the closing of its initial private capital raise. A subsidiary of Kimco intends to manage the new vehicle and will have the opportunity to receive income from it.

The separate investment vehicle is expected to commence its operations upon completion of its private capital raise. However, Kimco said it couldn’t provide any assurances that the separate investment vehicle’s capital raise or Kimco’s investment in the separate vehicle would be completed.

Pictured: Kimco headquarters in Jericho, NY.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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