Kimco Realty Explores Opportunity to Sponsor a Separate Investment Vehicle

- Focused on Opportunities Arising from Market Disruptions Affecting Retailers -

JERICHO, N.Y.--(BUSINESS WIRE)--Kimco Realty Corp. (NYSE: KIM), one of North America’s largest publicly-traded owners and operators of open-air, grocery-anchored shopping centers and mixed-use assets, today announced that it 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.

This press release does not and shall not constitute an offer to sell nor a solicitation of an offer to buy any securities of the separate investment vehicle, nor shall there be any offer, solicitation or sale of the securities of the separate investment vehicle in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

The securities offered by the separate investment vehicle will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or the applicable securities laws of any other jurisdiction. Accordingly, until registered, such securities may be resold or transferred only in transactions that are exempt from registration under the Securities Act or any securities laws of any other jurisdiction.

About Kimco

Kimco Realty Corp. (NYSE:KIM) is a real estate investment trust (REIT) headquartered in Jericho, N.Y. that is one of North America’s largest publicly traded owners and operators of open-air, grocery-anchored shopping centers and mixed-use assets. As of March 31, 2020, the company owned interests in 401 U.S. shopping centers and mixed-use assets comprising 70 million square feet of gross leasable space primarily concentrated in the top major metropolitan markets. 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 60 years.

Safe Harbor Statement

Some of the statements contained in this press release constitute forward-looking statements within the meaning of the federal securities laws, including, but not limited to, our statements about exploring the opportunity to raise capital through a separate investment vehicle, Kimco’s intent to invest in a range of $50 million to $100 million in the separate investment vehicle, and Kimco’s intent to manage the separate investment vehicle and the opportunity to receive income from managing the vehicle. Any forward-looking statements contained in this press release are intended to be made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as “may,” “will,” “should,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. You can also identify forward-looking statements by discussions of strategy, plans or intentions.

The forward-looking statements contained in this press release reflect our current views about future events and are subject to numerous known and unknown risks, uncertainties, assumptions and changes in circumstances that may cause our actual results to differ significantly from those expressed in any forward-looking statement. We do not guarantee that the transactions and events described will happen as described (or that they will happen at all). We disclaim any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes.