M&A Deal Summary

RioCan and Kimco Realty Acquire Tillicum Shopping Centre

On July 10, 2002, RioCan and Kimco Realty acquired real estate company Tillicum Shopping Centre

Acquisition Highlights
  • This is RioCan’s 7th and Kimco Realty’s 7th transaction in the Real Estate sector.
  • This is RioCan’s 7th and Kimco Realty’s 7th transaction in Canada.
  • This is RioCan’s 2nd and Kimco Realty’s 2nd transaction in British Columbia.

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

Target

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.

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Buyer(S) 2

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 (British Columbia) 2 of 3
Country (Canada) 7 of 8
Year (2002) 7 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-07-10 South Edmonton Common

Edmonton, Alberta, Canada

South Edmonton Common will comprise over 1 million square feet of newly constructed unenclosed new format retail space upon completion. South Edmonton Common is anchored by tenant-owned retailers Wal-Mart, Loblaws and Home Depot. National tenants include Michaels, The Brick, Home Outfitters, London Drugs and Old Navy. The centre is currently 100% 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
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 (British Columbia) 2 of 4
Country (Canada) 7 of 10
Year (2002) 7 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-07-10 South Edmonton Common

Edmonton, Alberta, Canada

South Edmonton Common will comprise over 1 million square feet of newly constructed unenclosed new format retail space upon completion. South Edmonton Common is anchored by tenant-owned retailers Wal-Mart, Loblaws and Home Depot. National tenants include Michaels, The Brick, Home Outfitters, London Drugs and Old Navy. The centre is currently 100% 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 -
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