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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