Kimco Realty Acquires RPT Realty

January 2, 2024

Kimco Realty completed its previously announced all-stock acquisition of RPT Realty, adding 56 open-air shopping centers (13.3 million sq. ft.) to Kimco's portfolio and assuming RPT debt and preferred stock. The transaction is expected to deliver approximately $34 million of initial cost savings synergies (≈85% realized in 2024) and increase scale in high-growth markets while preserving Kimco's balance sheet strength.

Buyers
Kimco Realty
Targets
RPT Realty
Sellers
RPT common shareholders, RPT Series D preferred shareholders
Industry
Real Estate
Location
New York, United States
Transaction Type
Buyout

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