M&A Deal Summary

Big Shopping Centers and Kimco Realty Acquire 15 Property Portfolio

On June 15, 2010, Big Shopping Centers and Kimco Realty acquired real estate company 15 Property Portfolio for 422M USD

Acquisition Highlights
  • This is Big Shopping Centers’ 1st and Kimco Realty’s 21st transaction in the Real Estate sector.
  • This is Big Shopping Centers’ and Kimco Realty’s 5th largest (disclosed) transaction.
  • This is Big Shopping Centers’ 1st and Kimco Realty’s 13th transaction in the United States.

M&A Deal Summary
Date 2010-06-15
Target 15 Property Portfolio
Sector Real Estate
Buyer(s) Big Shopping Centers
Kimco Realty
Deal Type Joint Venture
Deal Value 422M USD

Target

15 Property Portfolio

United States
The portfolio, which comprises approximately 2.6 million square feet, is primarily located on the West Coast of the U.S. including nine properties in California, two in both Washington and Nevada, and one each in Oregon and Maryland. The portfolio is 89.5% occupied and includes Wal-Mart, Target, TJ Maxx, CVS Pharmacy, Ross Dress for Less and Albertsons as anchor tenants.

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Buyer(S) 2

Buyer

Big Shopping Centers

Herzliya Pituach, Israel
Category Company
Sector Real Estate
DESCRIPTION

BIG Shopping Centers (BIG), is specializes in creating and managing branded open air shopping centers in Israel, India and Serbia. BIG is the largest open air shopping center operator and developer in Israel. As of today, the company owns and manages 15 centers across Israel totaling 2.3 million square feet of retail space.

DEAL STATS #
Overall 1 of 1
Sector (Real Estate) 1 of 1
Type (Joint Venture) 1 of 1
Country (United States) 1 of 1
Year (2010) 1 of 1
Size (of disclosed) 1 of 1
Buyer

Kimco Realty

Jericho, New York, United States
Category Company
Sector Real Estate
Employees660
Revenue 1.8B USD (2023)
DESCRIPTION

Kimco Realty is a real estate investment trust (REIT) that owns and operates North America's major publicly traded portfolio of neighborhood and community shopping centers. Kimco Realty is based in Jericho, New York.

DEAL STATS #
Overall 21 of 38
Sector (Real Estate) 21 of 37
Type (Joint Venture) 10 of 11
Country (United States) 13 of 28
Year (2010) 1 of 1
Size (of disclosed) 5 of 23
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-11-04 PL Retail

United States

PL Retail LLC, an entity comprising 21 shopping centers comprising approximately 5.2 million square feet of gross leasable area (GLA) are located in California.

Buy $175M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-12-01 Salish Plaza

Chilliwack, British Columbia, Canada

Salish Plaza, an 87,730 square foot neighbourhood shopping centre, Anchored by a 59,000 square foot PriceSmart food store and a Liquor Distribution Branch.

Buy -
Mergr

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