Kimco Realty To Buy 24-property Retail Portfolio In New England For $270 Mln

(RTTNews) - Kimco Realty Corp. (KIM-PG, KIM) Friday said it entered into an agreement to buy a 24-property retail portfolio in New England for $270 million, including the assumption of $121.5 million of mortgage debt. With this, Kimco will gain 17 properties in the Boston metropolitan market with anchor tenants including Whole Foods, Trader Joe's, Lowes, Kohl's, Petco, Pier 1 Imports, Aldi Supermarket, CVS and Walgreens. The deal is expected to close during the first quarter of 2014.

David Henry, Kimco's president and CEO said, "The assets are largely located in the high barrier to entry Boston market with attractive infill locations and a large consumer base."