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Kimco announces $265 million in deals


Kimco Realty Corp. has purchased the remaining 85% interest in a four-property joint venture portfolio, a deal that includes the assumption of $103 million in mortgage debt. The company also announced it had acquired a Whole Foods-anchored center in the D.C. area for $95 million.

The properties included in the joint venture were Perimeter Expo in Atlanta, Cranberry Commons in Pittsburgh, Cypress Towne Center in Houston, and Doc Stone Commons in Stafford, Virginia. The deal follows Kimco’s ongoing effort to reduce its joint venture exposure.

The second deal was for Kentlands Market Square, a 251,000-sq.-ft. open-air center in a master-planned community in Gaithersburg, Maryland.

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