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Vancouver Retail

Kimco Exits 17-Property JV With Anthem Properties

Salish Plaza in Chilliwack, BC
Photo credit: Form Retail Advisors

Kimco Realty has sold its interests in a 17-property Canadian portfolio (1.8M SF)—including Chilliwack’s Salish Plaza, above—to Vancouver-based JV partner Anthem Properties for $413.2M. Kimco has offloaded 26 Canadian properties since December (or 85% of the firm’s Canadian NOI), including two other shopping centres in Q2 for $99.3M. The firm retains a stake in nine Canadian shopping centres. The company also is unwinding a 15-year JV with RioCan REIT (35 jointly owned sites) as it focuses on building a portfolio of open-air malls in major US markets.

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