Joint book-running managers for the offering are Merrill Lynch, Deutsche Bank Securities and UBS Investment Bank, while Citi, RBC Capital Markets, Scotia Capital and Wachovia Securities are acting as joint lead managers. Barclays Capital, CIBC World Markets and Morgan Keegan & Company, Inc. are acting as co-managers. The offering is expected to close on or about Wednesday, April 8.

During the first quarter of 2009, the company obtained approximately $212 million in secured debt commitments, says Kimco in a release. These loans were sourced from five different lenders to finance six individual properties, and are expected to have maturities ranging from three to 15 years with interest rates ranging from 5.95% to 7.625%. The company closed the financing for one property totaling $35 million on March 31, and expects to close the others during Q2.

In addition, Kimco says it's negotiating term sheets for financing secured by 14 properties that is expected to generate proceeds of approximately $193 million. The company is also pursuing additional secured debt, secured by nine other properties that it believes may generate proceeds of approximately $197 million.