| 👁 Image | |
| Company type | Public |
|---|---|
| NYSE: KIM S&P 500 component | |
| Industry | Real estate investment trust |
| Founded | 1966; 60 years ago (1966) |
| Founders | Milton Cooper Martin Kimmel |
| Headquarters | Jericho, New York |
Area served | Contiguous United States and Puerto Rico |
Key people | Milton Cooper (chairman) Conor C. Flynn (CEO) Glenn G. Cohen (CFO) |
| Revenue | 👁 Increase $2.037 billion (2024) |
| 👁 Decrease $410 million (2024) | |
| Total assets | 👁 Increase $20.309 billion (2024) |
| Total equity | 👁 Increase $10.797 billion (2024) |
| Owner | Milton Cooper (1.6%) |
Number of employees | 717 (2024) |
| Subsidiaries | RPT Realty[1] |
| Website | www.kimcorealty.com |
| Footnotes / references [2] | |
Kimco Realty Corporation – colloquially known as Kimco – is a real estate investment trust headquartered in Jericho, New York, that invests in shopping centers throughout the Contiguous United States and the Commonwealth of Puerto Rico.
Overview
[edit]As of December 31, 2025, the company owned interests in 565 U.S. shopping centers and mixed-use assets comprising 100 million square feet of gross leasable space.[2]
Kimco was the first public vertically integrated REIT designed to be internally managed and advised, providing its own property and asset management.[3]
History
[edit]The Kimco Corporation, the predecessor of the company, was founded in 1966 by a group of real estate investors, including Martin Kimmel and Milton Cooper, who merged their retail assets. This asset merger led to the new company being named Kim-co. The company was incorporated in 1973.[2]
In 1988, the company acquired Gold Circle for $325 million.[4]
In November 1991, the company became a public company via an initial public offering, raising $120 million.[2][5]
In 1998, the company acquired Price REIT for $535 million in stock.[6]
In October 2003, the company acquired Mid-Atlantic Realty Trust for $441 million.[7][8] A few years later, in 2007, Kimco acquired the Birchwood Development Company – another Long Island-based company – for $92 million.[9]
In August 2021, the company acquired Weingarten Realty.[10]
In November 2022, the company acquired a portfolio of eight Long Island, NY shopping centers for $375.8 million.[11]
In January 2024, Kimco acquired RPT Realty, making the company the largest shopping center REIT.[12]
In October 2024, the company acquired Waterford Lakes Town Center for $322 million.[13]
See also
[edit]References
[edit]- ^ "Kimco Realty® Closes Acquisition of RPT Realty" (Press release). Business Wire. January 2, 2024.
- ^ a b c d "Kimco Realty Corporation 2024 Form 10-K Annual Report". U.S. Securities and Exchange Commission. February 21, 2025.
- ^ Brueggeman, William (2016). Real estate finance and investments. New York, NY: McGraw-Hill Education. ISBN 978-0-07-337735-3. OCLC 908192655.
- ^ Barmash, Isadore (September 8, 1988). "Kimco Buys Campeau's Gold Circle". The New York Times.
- ^ Pomerantz, Dorothy (March 10, 2008). "Beyond The Big Box". Forbes.
- ^ Kirkpatrick, David D. (January 14, 1998). "Kimco to Announce Pact to Acquire Price REIT for $535 Million in Stock". The Wall Street Journal.
- ^ "Kimco to Buy Mid-Atlantic Realty Trust for $444 Million". The New York Times. Bloomberg news. June 19, 2003.
- ^ Trainor, Tim (June 20, 2003). "Kimco To Buy Mid-Atlantic in $680M Deal". CoStar Group.
- ^ "Kimco Realty Corporation announces third quarter transaction activity" (Press release). Business Wire. October 8, 2007.
- ^ "Kimco Realty and Weingarten Realty Investors Announce Closing of Merger" (Press release). Business Wire. August 4, 2021.
- ^ Rogers, Jack (November 10, 2022). "Kimco Buys Long Island Shopping Center Portfolio for $376M". GlobeSt.com.
- ^ Fifelski, Anna (January 3, 2024). "Kimco Realty completes deal to buy owner of 8 Michigan shopping centers". Crain Communications.
- ^ Fraser, Trevor; Ryzewski, Steven (October 2, 2024). "Waterford Lakes Town Center sells for $322 million". American City Business Journals.
External links
[edit]- Official website
- Business data for Kimco Realty Corporation: