M&A Deal Summary

Kimco Realty and Prudential Real Estate Investors Acquire Pan Pacific Retail Properties

On October 31, 2006, Kimco Realty and Prudential Real Estate Investors acquired real estate company Pan Pacific Retail Properties for 4.1B USD

Acquisition Highlights
  • This is Kimco Realty’s 17th and Prudential Real Estate Investors’ 2nd transaction in the Real Estate sector.
  • This is Kimco Realty’s 2nd and Prudential Real Estate Investors’ largest (disclosed) transaction.
  • This is Kimco Realty’s 9th and Prudential Real Estate Investors’ 2nd transaction in the United States.
  • This is Kimco Realty’s 2nd and Prudential Real Estate Investors’ 1st transaction in California.

M&A Deal Summary
Date 2006-10-31
Target Pan Pacific Retail Properties
Sector Real Estate
Buyer(s) Kimco Realty
Prudential Real Estate Investors
Deal Type Joint Venture
Deal Value 4.1B USD

Target

Pan Pacific Retail Properties

Vista,, California, United States
Pan Pacific Retail Properties Inc. a real estate investment trust (REIT), engages in the ownership, management, and lease of neighborhood and community shopping centers primarily in the western United States.

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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 17 of 38
Sector (Real Estate) 17 of 37
Type (Joint Venture) 9 of 11
State (California) 2 of 6
Country (United States) 9 of 28
Year (2006) 2 of 2
Size (of disclosed) 2 of 23
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-03-31 Atlantic Realty Trust

New York, New York, United States

Atlantic Realty Trust operated as a real estate investment trust. It owned a retail property, Hylan Plaza Shopping Center, located in Staten Island, New York.

Buy $82M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-06-04 Black Mountain Village & D Andrea Marketplace

California, United States

D'Andrea Marketplace in Sparks, with approximately 120,000 square feet and Black Mountain Village in San Diego,totaling approximately 49,000 square feet.

Buy $54M
Buyer

Prudential Real Estate Investors

Parsippany, New Jersey, United States
Category Company
Founded 1878
Sector Real Estate
DESCRIPTION

Prudential Real Estate Investors, is the real estate investment management business specialized operating units offer a broad range of investment opportunities and investment management services in the United States, Europe, Asia, and Latin America.

DEAL STATS #
Overall 2 of 2
Sector (Real Estate) 2 of 2
Type (Joint Venture) 1 of 1
State (California) 1 of 1
Country (United States) 2 of 2
Year (2006) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-05-05 Storage USA

Memphis, Tennessee, United States

Storage USA, Inc., operating 458 self-storage properties in 31 states and Washington, D.C. Storage USA manages over 31 million net rentable square feet with nearly 250,000 tenants.

Buy $2.3B
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