M&A Deal Summary

Kimco Realty and RioCan Acquire Shoppers World Albion

On July 10, 2002, Kimco Realty and RioCan acquired real estate company Shoppers World Albion

Acquisition Highlights
  • This is Kimco Realty’s 7th and RioCan’s 7th transaction in the Real Estate sector.
  • This is Kimco Realty’s 7th and RioCan’s 7th transaction in Canada.
  • This is Kimco Realty’s 3rd and RioCan’s 3rd transaction in Ontario.

M&A Deal Summary
Date 2002-07-10
Target Shoppers World Albion
Sector Real Estate
Buyer(s) Kimco Realty
RioCan
Deal Type Joint Venture

Target

Shoppers World Albion

Toronto, Ontario, Canada
Shoppers World Albion is a 349,000 square foot mall anchored by Fortino's (Loblaws) and Canadian Tire. Other national tenants include Shoppers Drug Mart, the Liquor Board of Ontario, Rogers Video, Payless Shoesource and Radio Shack. The centre is 98% occupied. Both Shoppers World centres have been extensively renovated and modernized over the last several years.

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Buyer(S) 2

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 7 of 38
Sector (Real Estate) 7 of 37
Type (Joint Venture) 7 of 11
State (Ontario) 3 of 4
Country (Canada) 7 of 10
Year (2002) 7 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-07-10 Tillicum Shopping Centre

Victoria, British Columbia, Canada

Tillicum Shopping Centre is a 412,000 square foot shopping centre anchored by Canada Safeway, London Drugs, Zellers, Winners and Famous Players, which is the only stadium seating theatre on Vancouver Island. Other national tenants include Petcetera, GNC, Stokes, Payless Shoesource, Kelsey's and Montana's. This recently renovated centre is currently 98.6% occupied.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2002-11-19 Parkway Supercenter

Washington, United States

Parkway Supercenter is a 467,701 square foot shopping center anchored by Best Buy, Marshalls, Michaels Stores, Ross Dress for Less and Old Navy.

Buy -
Buyer

RioCan

Toronto, Ontario, Canada
Category Company
Founded 1981
Sector Real Estate
Employees565
Revenue 1.1B CAD (2023)
DESCRIPTION

RioCan is Canada's real estate investment trust. RioCan has total assets of approximately $3 billion consisting of ownership interests in a portfolio of 151 retail properties across Canada containing an aggregate of over 23 million square feet of gross leasable area. RioCan derives over 77% of its gross revenue from national and anchor tenants, with no one tenant providing more than 5.5% of gross revenue. RioCan's largest tenant is Wal-Mart and 14.2% of RioCan's revenue is provided by food supermarkets. RioCan was founded in 1981 and is based in Toronto, Ontario.

DEAL STATS #
Overall 7 of 8
Sector (Real Estate) 7 of 8
Type (Joint Venture) 7 of 8
State (Ontario) 3 of 3
Country (Canada) 7 of 8
Year (2002) 7 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-07-10 Tillicum Shopping Centre

Victoria, British Columbia, Canada

Tillicum Shopping Centre is a 412,000 square foot shopping centre anchored by Canada Safeway, London Drugs, Zellers, Winners and Famous Players, which is the only stadium seating theatre on Vancouver Island. Other national tenants include Petcetera, GNC, Stokes, Payless Shoesource, Kelsey's and Montana's. This recently renovated centre is currently 98.6% occupied.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-03-12 Langley Power Centre

Langley, British Columbia, Canada

Langley Power Centre, is a 228,000 square foot unenclosed new format retail centre. Tenants of this 100% occupied centre include some of Canada's leading retailers, such as Winners, Michaels, Future Shop, Office Depot, Golf Town and Forzanis.

Buy $43M
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