Attorneys from Goodwin Procter recently advised Kimco Realty on its $270 million acquisition of 24 retail properties in the New England region. Included in the acquisition, which represented 1,400,000 square feet of retail space with a 96 percent occupancy rate, are 17 shopping centers in the Boston, Mass. metropolitan area. Anchor tenants include Whole Foods, Trader Joe’s, CVS and Lowe’s, among others. Terms were not disclosed.
Kimco Realty, based in New Hyde Park, N.Y., is a real estate investment trust and the largest publicly traded owner and operator of neighborhood and community shopping centers in North America. The company’s portfolio, as of December 31, 2013, included 852 shopping centers in 44 states, Puerto Rico, Canada, Mexico and South America. Kimco is traded on the New York Stock Exchange under ticker “KIM.”
Goodwin has regularly represented Kimco on transactional matters since 2003, including on public M&A transactions, multi-investor funds, joint ventures with institutional investors, portfolio acquisitions and dispositions.
The Goodwin team advising Kimco was led by partner Andy Sucoff with the assistance of associates Patrick Hurley and Freddie Akrouche.
More information about the transaction can be found in the company’s press release.