KIM · 8-K · 20260804PR331498

Acquisition / Partnership / Divestiture

KIMCO REALTY CORP · 2026-08-04 · Importance 58 · Surprise 42 · In source text

Kimco sold The Milton, a 253-unit multifamily building at Pentagon Centre in Pentagon City, Virginia, for $142.3 million, including a $78.2 million pro-rata share, marking its first multifamily asset disposition. Subsequent to quarter end, it sold four Costco-anchored assets for approximately $127 million and intends to use the proceeds in future 1031 exchanges. It acquired Pompano Marketplace, a 239,000-square-foot Walmart-anchored center in Pompano Beach, Florida, for $53 million, and Sunshine Plaza, a 247,000-square-foot Publix-anchored center in a first-ring Fort Lauderdale suburb, for $56 million. The transactions support Kimco’s stated strategy of recycling capital from assets with lower contractual rent growth into higher-yielding investments.

Key facts

• Subsequent to quarter end, sold four Costco-anchored assets for aggregate proceeds of approximately $127 million. source
• Subsequent to quarter end, acquired Pompano Marketplace (239,000 sq ft Walmart-anchored) in Pompano Beach, Florida for $53 million. source
• Subsequent to quarter end, acquired Sunshine Plaza (247,000 sq ft Publix-anchored) in a first-ring suburb of Fort Lauderdale, Florida for $56 million. source
• Sold The Milton, a 253-unit multifamily building at Pentagon Centre, for $142.3 million. source
• The company's pro-rata share of the sales price for The Milton was $78.2 million. source
• Sold Shoppes at Bears Path (44,000 square feet) in Tucson, Arizona for $7.8 million. source
• Year-to-date property acquisitions, net of dispositions was ($133) million with dispositions weighted average cap rate of 5.2%. source
• The cap rate on The Milton transaction was approximately 4.9%. source

Impact estimates