Kimco Realty explores opportunity to sponsor a separate investment vehicle

Kimco Realty Corp. is exploring the opportunity to sponsor a separate investment vehicle.

The initiative is focused on raising capital to invest in retail real estate–related opportunities arising from market disruptions affecting retailers and the retail real estate sector, including the ongoing disruption caused by the COVID-19 pandemic. Kimco intends to invest approximately $50 million to $100 million in the separate investment vehicle upon the closing of its initial private capital raise.

A subsidiary of Kimco intends to manage the new vehicle and will have the opportunity to receive income from managing the vehicle. The separate investment vehicle is expected to commence its operations upon completion of its private capital raise. Kimco cannot provide any assurances that the separate investment vehicle’s capital raise, nor Kimco’s investment in the separate vehicle, will be completed on successful terms, or at all.