Search
 

GlobeSt.com UPDATE: Kimco Completes Acquisition of MART

NEW HYDE PARK, NY-In a transaction valued at more than $700 million, Kimco's acquisition of Baltimore-based MART has been completed.

By Barbara Jarvie | Updated on October 01, 2003

NEW HYDE PARK, NY-Kimco Realty Corp., based in this New York City suburb, has completed its acquisition of Mid-Atlantic Realty Trust. The merger of MART with and into a subsidiary of Kimco was approved by the shareholders of MART Tuesday and the closing was Wednesday.

MART shareholders will receive cash consideration of $21.051 per share. In addition, more than 99% of the limited partners in MART’s operating partnership elected to have their partnership units redeemed for cash consideration equal to $21.051 per unit.

In accordance with the merger agreement, Kimco’s Board of Directors has appointed F. Patrick Hughes, who served as CEO, president and trustee of MART since its 1993 formation, to serve on its board.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.