Description
Kimco Realty is a real estate investment trust (REIT) that invests in shopping centers. As of December 31, 2020, the company owned interests in 400 U.S. shopping centers and mixed-use assets comprising 70 million square feet of gross leasable space primarily concentrated in the top major metropolitan markets.
Kimco Realty was the first public vertically integrated REIT designed to be internally managed and advised, providing its own property and asset management.
History
Kimco Realty Corporation was founded in 1966 by a group of real estate investors, including Martin Kimmel and Milton Cooper, who merged their retail assets, thus the company's name of Kim-co.
In 1991, the company became a public company via an initial public offering, raising $120 million.
In 1998, the company acquired Price REIT for $535 million in stock.
In October 2003, the company acquired Mid-Atlantic Realty Trust for $441 million.
In 2007, the company acquired Birchwood Development Company (NY) for $92 million.
In 2021, the company announced its intention to acquire Weingarten Realty.
