Meanwhile, Kimco is still looking at big-time portfolio buys. During their third-quarter conference call, vice chairman David Henry, acknowledged that Kimco had considered the acquisition of Inland Retail Real Estate, which Developers Diversified Realty is buying for $6.2 billion. "We took a very hard look at the Inland deal," he says.
For its quarter, which ended Sept. 30, Kimco purchased 65 centers at a total cost of $621 million. Included in those were 10 properties in Florida that are all anchored by the grocer Publix and were acquired in a joint venture with UBS Wealth Management
Internationally the company closed on six centers in Puerto Rico that are part of a seven-asset portfolio valued at $448 million. Kimco also started the development of three centers in Mexico, at a cost of $87 million. Executives say they are also interested in pursuing opportunities in Brazil and Chile.
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