M&A Deal Summary

Kimco Realty and RioCan Acquire Strawberry Hill Shopping Centre

On May 6, 2002, Kimco Realty and RioCan acquired real estate company Strawberry Hill Shopping Centre

Acquisition Highlights
  • This is Kimco Realty’s 3rd and RioCan’s 3rd transaction in the Real Estate sector.
  • This is Kimco Realty’s 3rd and RioCan’s 3rd transaction in Canada.
  • This is Kimco Realty’s 1st and RioCan’s 1st transaction in British Columbia.

M&A Deal Summary

Date 2002-05-06
Target Strawberry Hill Shopping Centre
Sector Real Estate
Buyer(s) Kimco Realty
RioCan
Deal Type Joint Venture

Target

Strawberry Hill Shopping Centre

Surrey, British Columbia, Canada
Strawberry Hill Shopping Centre is an unenclosed 330,000 square foot shopping centre anchored by a 104,000 square foot Home Depot, a 52,000 square foot Cineplex theatre and a 31,000 square foot Winners. Other national tenants include Chapters, Petsmart, Sport Chek, Pennington's, Payless Shoes and Scotia Bank. The centre is currently 99.2% occupied and has expansion capability of up to 16,000 square feet of retail space.

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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 3 of 38
Sector (Real Estate) 3 of 37
Type (Joint Venture) 3 of 11
State (British Columbia) 1 of 4
Country (Canada) 3 of 10
Year (2002) 3 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-05-06 Brentwood Village Shopping Centre

Calgary, Alberta, Canada

Brentwood Village Shopping Centre is an unenclosed 315,000 square foot shopping centre anchored by a Safeway supermarket, a 46,000 square foot Sears Whole Home, and a 25,000 square foot London Drugs. Other national tenants include Blockbuster Video, Pier 1 Imports, Bank of Montreal, Pennington's and Sleep Country Canada. The centre is currently 97.2% occupied.

Buy -
FOLLOWING 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 -
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 3 of 8
Sector (Real Estate) 3 of 8
Type (Joint Venture) 3 of 8
State (British Columbia) 1 of 3
Country (Canada) 3 of 8
Year (2002) 3 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-05-06 Brentwood Village Shopping Centre

Calgary, Alberta, Canada

Brentwood Village Shopping Centre is an unenclosed 315,000 square foot shopping centre anchored by a Safeway supermarket, a 46,000 square foot Sears Whole Home, and a 25,000 square foot London Drugs. Other national tenants include Blockbuster Video, Pier 1 Imports, Bank of Montreal, Pennington's and Sleep Country Canada. The centre is currently 97.2% occupied.

Buy -
FOLLOWING 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 -