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Kimco and Anthem Properties expand retail joint venture

Millwoods Mainstreet Shopping Center in Edmonton added to partnership.
NEW HYDE PARK, N.Y., & VANCOUVER, British Columbia–(BUSINESS WIRE)–May. 3, 2012– Kimco Realty Corp. (NYSE: KIM) and Anthem Properties Group Ltd. (Anthem Properties) today announced the addition of the Millwoods Mainstreet shopping center in Edmonton, the capital city of Alberta, to their existing Canadian retail joint venture. This grocery-anchored center was acquired for $41.7 million Canadian dollars (US$42.4 million), including CA$26 million (US$26.4 million) of mortgage debt.

Millwoods Mainstreet, a 140,000-square-foot shopping center, is anchored by a 35,000-square-foot Sobeys, the second largest food retailer in Canada. The center is located in the established residential neighborhood of Millwoods, and serves a population within a 3-mile radius of approximately 121,000 with an average household income of CA$104,000.

The joint venture currently owns 17 properties comprising 1.8 million square feet in the Canadian provinces of Alberta and British Columbia.

About Kimco:

Kimco Realty Corp. (NYSE: KIM) is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that owns and operates North America’s largest portfolio of neighborhood and community shopping centers. As of March 31, 2012, the company owned interests in 930 shopping centers comprising 136 million square feet of leasable space across 44 states, Puerto Rico, Canada, Mexico and South America. Publicly traded on the NYSE since 1991, and included in the S&P 500 Index, the company has specialized in shopping center acquisitions, development and management for more than 50 years. For further information, please visit www.kimcorealty.com, the company’s blog at blog.kimcorealty.com, or follow Kimco on Twitter at www.twitter.com/kimcorealty.

About Anthem Properties:

Anthem Properties is a 100-person real estate investment, development and management company operating in Western Canada, headquartered in Vancouver, British Columbia. The group principally pursues retail and multi-family residential asset classes. The Anthem portfolio is currently comprised of 3.5 million square feet of retail, 50 acres of urban and suburban land held for future development, and approximately 1,000 residential condominium units under construction. For further information, please visit the company’s web site at www.anthemproperties.com.

Source: Kimco Realty Corp.
Kimco Realty Corporation
David F. Bujnicki, 1-866-831-4297
Vice President, Investor Relations and Corporate Communications
dbujnicki@kimcorealty.com

or

Anthem Properties Group Ltd.

Alexa Ulinder Baughen, 1-604-488-3620
VP, Investments and Communications
abaughen@anthemproperties.com