Kimco Realty Says 2024 RPT Disposition Target Achieved

(RTTNews) - Kimco Realty Corporation (KIM) Wednesday said it has disposed ten former RPT Realty properties for about $248 million, as they were not helpful in achieving the company's long-term investment goals.

As part of these sales, Kimco invested approximately $67 million under its Structured Investment program on seven of the properties and expects to earn a 10% blended return on them.

With these sales, the company said, it has achieved its 2024 disposition target for former RPT properties.

"These centers, which were primarily power centers, were prioritized for disposition due to lower growth, higher risk profiles and/or the need for significant capital commitments, which were inconsistent with our long-term investment objectives," commented Kimco CEO Conor Flynn.