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Company Description

Contact Info

3333 New Hyde Park Road

Suite 100

New Hyde Park, NY 11042

United States

Phone: 516-869-9000

Fax: 516-869-9001

Kimco Realty Corporation, through its subsidiaries, engages principally in the operation of neighborhood and community shopping centers which are anchored generally by discount department stores, supermarkets or drugstores. The company also provides property management services for shopping centers owned by affiliated entities, various real estate joint ventures and unaffiliated third parties. As of January 31, 2007, the company had interests in 1,348 properties, totaling approximately 175.4 million square feet of gross leasable area (GLA) located in 45 states, Canada, Mexico and Puerto Rico. The company’s ownership interests in real estate consist of its consolidated portfolio and in portfolios where the company owns an economic interest, such as properties in the company’s investment management program, where the company partners with institutional investors and also retains management. Operating Real Estate Joint Venture Investments Kimco Prudential Joint Venture (KimPru) In July 2006, the company entered into a merger agreement with Pan Pacific. In September 2006, Pan Pacific stockholders approved the proposed merger and the closing occurred on October 31, 2006. As of October 31, 2006, Pan Pacific owned interests in 138 operating properties, which comprised approximately 19.9 million square feet of GLA, located primarily in California, Oregon, Washington and Nevada. Kimco Income REIT (KIR) The company has a non-controlling limited partnership interest in KIR, manages the portfolio and accounts for its investment under the equity method of accounting. During 2006, KIR disposed of two operating properties and one land parcel, in separate transactions. As of December 31, 2006, the KIR portfolio comprised 66 operating properties aggregating 14.0 million square feet of GLA located in 19 states. KROP Venture (KROP) During 2006, KROP sold three operating properties to a joint venture in which the company has a 20% non-controlling interest. As of December 31, 2006, the KROP portfolio comprises 25 operating properties aggregating approximately 3.6 million square feet of GLA located in 10 states. During August 2006, the company and GECRE agreed to market for sale the remaining properties within the KROP venture. PL Retail LLC (PL Retail) The company has a 15% non-controlling limited partnership interest in PL Retail, manages the portfolio and accounts for its investment under the equity method of accounting. As of December 31, 2006, the PL Retail portfolio comprises of 23 operating properties aggregating approximately 5.8 million square feet of GLA located in seven states. Kimco/UBS Joint Ventures (KUBS) The company has joint venture investments with UBS Wealth Management North American Property Fund Limited (UBS) in which the company has non-controlling interests ranging from 15% to 20%. KUBS acquired one operating property from the company, and five operating properties from joint ventures in which the company has 15% to 20% non-controlling interests. As of December 31, 2006, the KUBS portfolio comprises 31 operating center properties aggregating approximately 5.0 million square feet of GLA located in 11 states. Other Real Estate Joint Ventures During 2006, the company acquired, in separate transactions, 18 operating properties and one ground lease, through joint ventures in which the company has non-controlling interests. International Real Estate Investments Canadian Investments In March 2006, the company acquired an interest in a portfolio of eight properties located in various cities throughout Canada through a newly formed joint venture in which the company has a non-controlling interest. The company provided through 12 separate Canadian preferred equity investments to developers and owners of 32 real estate properties. Mexican Investments In January 2006, the company transferred 50% of its 60% interest in an operating property in Guadalajara, Mexico. In June 2006, the company acquired, through a newly formed joint venture, in which the company has a non-controlling interest, a 0.1 million square foot development project in Puerta Vallarta, Mexico. The

 

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