National CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors


National  + Retail  | 

Kimco, Weingarten Shareholders Give Final Okay to $12B Merger

(Updated with additional information)

Shareholders of Kimco Realty Corp. and Weingarten Realty Investors approved the previously announced merger of the two shopping center REITs. The deal, which closed on Tuesday, creates a company with a pro forma equity market capitalization of approximately $12 billion and a total enterprise value of approximately $20.5 billion.

Upon completion of the merger, the common stock of the combined company will trade under the symbol “KIM” on the New York Stock Exchange, and Weingarten’s common shares will be suspended from trading on the NYSE effective as of the opening of trading on August 4.

“Not only will the merged company and its shareholders enjoy a larger, higher quality, more diversified portfolio with significant embedded growth opportunities, the transaction also reduces the combined company’s leverage, creating a stronger financial profile,” Kimco CEO Conor Flynn said when the merger was announced April 15. 


Inside The Story


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).

Step 1: Select Education
  • ◦Sale/Acquisition
New call-to-action