RioCan Completes Acquisition of Kimco's Undivided Interest in 28 Canadian Properties
|Areas||Commercial Real Estate, Mergers and Acquisitions, REITs and Income Securities|
Goodmans represented RioCan REIT (RioCan) in its acquisition of Kimco Realty Corporation's (Kimco) interest in 28 Canadian properties, all selected by RioCan. The closing was completed in two stages. The first stage of the closing was completed on October 6, 2015 and consisted of 24 properties at a purchase price of $478,255,948. The second stage of the closing was completed on December 15, 2015 and consisted of 4 properties at a purchase price of $237,744,052 for a total purchase price value of $716,000,000. RioCan also assumed Kimco's share of the existing in place debt of $104,000,000.