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Stock Market & Financial Investment News

News For SVU;KIM From The Last 14 Days
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December 12, 2014
09:02 EDTKIMKimco Realty to buy Blackstone 66.7% share stake in portfolio for $925M
Kimco Realty (KIM) announced that its subsidiary has executed a contract to acquire the remaining 66.667% interest in the 39-property Kimstone portfolio from its joint venture partner, a subsidiary of Blackstone Real Estate Partners VII (BX) for a price of $925M, which includes the assumption of approximately $426.7M in mortgage debt. The company will pay approximately $512.3M to acquire BREP’s interest. Kimco will use a combination of proceeds from recently completed and pending property sales in the U.S. and Latin America as well as availability under its existing $1.75B revolving credit facility to fund this transaction which is expected to be completed in the first quarter of 2015. Upon closing, Kimco will own 100% of the portfolio. The portfolio consists of 39 properties totaling 5.6M square feet and is approximately 97% occupied. The properties in the portfolio are concentrated in the core markets of New York, Virginia, Texas, Florida, California, and Maryland. The portfolio has a three-mile average household income level of $92,000 and an average base rent per square foot of $15.83, both of which exceed Kimco’s current portfolio averages.
December 9, 2014
10:23 EDTSVUOn The Fly: Analyst Downgrade Summary
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06:23 EDTSVUSupervalu downgraded after share outperformance at Oppenheimer
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05:54 EDTSVUSupervalu downgraded to Perform from Outperform at Oppenheimer
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