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Article: GE Capital Real Estate Announces Strategic Venture With Kimco Realty; Venture Targets Retail Shopping Center Opportunities.
- Article from:
- Business Wire
- Article date:
- October 16, 2001
CopyrightCOPYRIGHT 2001 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Business Editors
STAMFORD, Conn.--(BUSINESS WIRE)--Oct. 16, 2001
GE Capital Real Estate (GECRE), a leading global resource for commercial real estate capital, and Kimco Realty Corporation (NYSE: KIM), the nation's largest neighborhood and community shopping center real estate investment trust, have formed a joint venture to acquire established, high-potential retail properties in the U.S.
The initial funding for the Kimco Retail Opportunity Portfolio, as this new nationwide venture is called, consists of a shared equity pool established by GECRE and Kimco. Kimco will handle the management and leasing of properties acquired by the joint venture.