RioCan and Kimco Jointly Announce Agreement for RioCan to Acquire Kimco's Interest in Two Canadian Properties and Kimco's Purchase of RioCan's Interest in One U.S. Property - Seite 3

Montgomery Plaza

Montgomery Plaza is a 465,011 square foot shopping center located in Fort Worth, Texas that was originally developed by a subsidiary of Kimco. This center, located at the corner of Carroll Street and W Seventh Street on the edge of downtown Fort Worth, spans 46 acres and features a wide array of live, work and play opportunities including two luxury residential condo towers with the potential to add additional density in the future. The property is 97.4% occupied and shadow-anchored by Super Target and anchored by Marshalls, Ross Dress for Less, PetSmart, Michaels and Office Depot. The anchors are complemented by nationally recognized tenants including Pier 1 Imports, Starbucks and Chick-fil-A. RioCan will sell its 80% interest in the property to Kimco at a sale price of US$58.3 million which equates to a capitalization rate of 5.75%. Kimco will assume RioCan's 80% interest in the existing mortgage debt of US$23.6 (at 80%) million that carries an interest rate of 3.90% and is scheduled to mature in 2022 subject to a mark to market adjustment.

About RioCan

RioCan is Canada's largest real estate investment trust with a total capitalization of approximately $15.1 billion as at December 31, 2014. It owns and manages Canada's largest portfolio of shopping centres with ownership interests in a portfolio of 340 retail properties containing more than 79 million square feet, including 48 grocery anchored and new format retail centres containing 13 million square feet in the United States as at December 31, 2014. RioCan's portfolio also includes 15 properties under development in Canada. For further information, please refer to RioCan's website at www.riocan.com.

About Kimco

Kimco Realty Corp. (NYSE:KIM) is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that owns and operates North America's largest publicly traded portfolio of neighborhood and community shopping centers. As of December 31, 2014, the company owned interests in 754 shopping centers comprising 110 million square feet of leasable space across 39 states, Puerto Rico, Canada, Mexico and Chile. Publicly traded on the NYSE since 1991, and included in the S&P 500 Index, the company has specialized in shopping center acquisitions, development and management for more than 50 years.