KIMCO'S 2020 VISION INVESTOR PRESENTATION FIRST QUARTER 2016 - Westlake Shopping Center, Daly City, CA
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KIMCO’S
2020 VISION
INVESTOR PRESENTATION
FIRST QUARTER 2016
Westlake Shopping Center, Daly City, CA
SAFE
HARBOR
The statements in this presentation, including targets and
assumptions, state the Company’s and management’s hopes,
intentions, beliefs, expectations or projections of the future and are
forward-looking statements. It is important to note that the Company’s
actual results could differ materially from those projected in such
forward-looking statements. Factors that could cause actual results
to differ materially from current expectations include the key
assumptions contained within this presentation, general economic
conditions, local real estate conditions, increases in interest rates,
foreign currency exchange rates, increases in operating costs and
real estate taxes. Additional information concerning factors that could
cause actual results to differ materially from those forward-looking
statements is contained from time to time in the Company’s SEC
filings, including but not limited to the Company’s Annual Report on
Form 10-K. Copies of each filing may be obtained from the Company
or the SEC.
The District at Tustin Legacy, Tustin, CACOMPANY SNAPSHOT
LARGEST PUBLICLY TRADED OWNER & OPERATOR OF PREMIER OPEN-
AIR SHOPPING CENTERS IN THE UNITED STATES
History Founded in 1958 – IPO that initiated Modern REIT Era
NYSE listed (1991) – S&P 500 Index (2006)
Dividend $1.02/share annually, 3.5% yield at 3/31/16
Retail Portfolio 550 U.S. properties totaling 88M sf
Footprint 36 States and Puerto Rico
Occupancy(1) 3/31/16: 95.8% – All-time high: 96.2% (12/31/07)
Credit Rating Investment Grade: BBB+ Baal BBB+
S&P Moody’s Fitch
Information as of 3/31/2016
(1) Pro rata
3CASE FOR OPEN-AIR REAL ESTATE:
TODAY’S MARKET
Low Supply High Demand
Shopping Center Supply Growth (GLA)(1) Planned Retailer Store Openings (3)
12%
10%
8%
6%
4%
2%
0%
'15E
'17E
'81
'83
'85
'87
'89
'91
'93
'95
'97
'99
'01
'03
'05
'07
'09
'11
Retail supply remains historically low '13 More than 79,000 store openings scheduled
Consumer confidence trending higher over the next two years(3)
U.S. retail market occupancy remained Pure-play online retail opening physical stores
consistent with net absorption totaling 18.6M Discounters and off-price concepts are
sf during 1Q16(2) increasing their footprint in both square footage
and store count
(1) Green Street Advisors January 2016
(2) CoStar Group, “The CoStar Retail Report: National Retail Market” First Quarter 2016
(3) RBC Capital Markets, “Retail REITs: March 2016 National Retailer Demand Monthly (NRDM)” March 2016
4SWEET SPOT OF RETAILING
Market Cap ($B): Open-Air Retailers vs. Mall Retailers
Sears
$27.3
Ross Stores
$23.8
JC Penney
$18.9
Dillard's $2.8
Nordstrom
TJX Companies $14.6 Sears $1.7
$51.6 JC Penney $3.0
Dillard's $2.5
Nordstrom
Ross Stores $4.5 $8.9
Macy's
TJX Companies $20.8 Macy's
$13.4 $12.4
2007 Q1 2016 2007 Q1 2016
Off-Price Retailers Department Stores
Source: Bloomberg
5E-COMMERCE: WELL-POSITIONED FOR THE FUTURE
Total Retail Sales Kimco ABR Composition
92.5% 7.5% 93% 7%
Internet Internet
Compatible/ Vulnerable
E-Commerce (poor Omni-channel
Brick & Mortar Resistant platform)
(B&M) Sales Sales
The Case for Brick & Mortar Omni-Channel: Everybody’s Different
A Case Study New Entrants +7.1%
• B&M + Ecommerce = Sales
Buy Online
• Ecommerce sales Ship to Store
• 80% w/in zip code of B&M
• 50% increase w/ new store opening
+4.0%
• Growth Strategy
• Over 40+ store openings in 2016
• Invest in omni-channel
6CORPORATE SUSTAINABILITY
Established Priorities: Tangible Results: Transparency & Leadership:
Operational Tenant
Leadership Partnerships
Stakeholder
Engagement #1 Retail Owner, 2016 Newsweek Top
Green Companies in the U.S.
15.1%
Sole Retail Owner, 2015 Dow Jones
Sustainability North America Index
Quality Team Community 2014 & 2015 GRESB Green Star
2014 CDP Climate Disclosure Leadership
7U.S.
SHOPPING
CENTER
PORTFOLIO
Westlake Shopping Center, Daly City, CATOP 30 MARKET SUMMARY: UNMATCHED DIVERSITY
Top 10 Markets by ABR
Source: Green Street Advisors
9OPERATING PORTFOLIO
A HIGH-QUALITY BASE
The Market The Real Estate
Top U.S. markets Major metros
Strong demographics Above national average
Grocery-anchored >70% ABR
Anchor tenants ~60% ABR
Top 50 tenants with investment grade >50% ABR
Fee owned ground leases ~11% ABR
10TOP10 KIMCO ASSETS
2016 20201
1 Westlake S.C. (San Francisco) 1 Dania Pointe (Ft. Lauderdale)
2 Oakwood Plaza (Florida) 2 Westlake S.C. (San Francisco)
3 The District @ Tustin Legacy (Orange County) 3 The Boulevard (Staten Island)
4 Mesa Riverview (Phoenix) 4 Suburban Square (Philadelphia)
5 Suburban Square (Philadelphia) 5 The District @ Tustin Legacy (Orange County)
6 Towson Place (Baltimore) 6 Oakwood Plaza (Florida)
7 The Marketplace at Factoria (Seattle) 7 Mesa Riverview (Phoenix)
8 Crossroads Plaza (Raleigh-Durham) 8 Pentagon Centre (Washington D.C.)
9 Dulles Town Crossing (Washington D.C.) 9 Grand Parkway (Houston)
10 Christown Spectrum (Phoenix) 10 Crossroads Plaza (Raleigh-Durham)
$99M NOI (11% of Total) $152M NOI (15% of Total)
*NOI metrics are pro-rata as of 5/2/2016
Redevelopment Site Development Site
(1) Before planned acquisitions
11KIMCO IS QUALITY
PORTFOLIO PROFILE
TOP100 TOP 300
SITES SITES
2016 Share of Portfolio NOI 49% 86%
Additional properties within 10 miles +187 +134
Combined share of portfolio NOI* 71% 93%
2020E Share of Portfolio NOI* 77% 97%
Dominant properties concentrated in major metropolitan markets
*Projection for largest properties plus properties within a 10-mile radius
12BUILDING BLOCKS OF GROWTH
Net
Acquisitions(3)
Ground-Up
Development $10M
Redevelopment
Pipeline $55M
Rent Spreads/
Lease-up/ $70M
Value Creation
Organic
$50M
Growth
$1.2B
$65M
U.S.
Portfolio
$935M
Debt
Reduction
Canada $40M ($40M)(2)
2015 2020E
BASE (1)
(1)2015 is based on population at 12/31/15
(2)Assumes proceeds from sales used to pay down debt.
(3)Acquisition NOI in excess of dispositions
13BUILDING BLOCKS OF GROWTH
THE ROADMAP TO MULTIPLE GROWTH LEVERS
NOI Growth Walk Through 2020
Organic Growth: 140-165 bps
Leasing & Value Creation: 110-160 bps
Redevelopment: 100-150 bps
Ground-Up Development: 85-110 bps
Targeted Annual Growth Rate: 435-585 bps
14U.S. SHOPPING CENTER PROFILE:
By GLA By Annual Base Rent
Local Small Shops(< 5K sq. ft.) | 7% of GLA
Small Shops provide:
13% ─ Higher rent PSF
─ Shorter term which
keeps pace with
National Small Shops (< 5K sq. ft.) | 8% of GLA current market
16%
─ Avg. RPSF = $25.49
Anchors provide:
12% ─ Solid credit quality
Mid Tier Stores (5K – 10K sq. ft.) | 9% of GLA ─ Stability
─ Mark to market
opportunities
─ Avg. RPSF = $11.32
59%
Anchors (> 10K sq. ft.) | 76% of GLA
Stable Base with Significant Growth Potential
15TENANT PROFILE: UNMATCHED DIVERSITY
Top Five Tenants
Tenant % of ABR % of GLA 9,500 leases with 4,600 tenants
3.3% 4.1% Well staggered lease maturity with
limited rollover in any given year;
2.5% 3.6% averages ~8% of GLA over next 10
years
2.0% 2.3% 4 of the top 5 and 7 of the top 10
tenants are Moody’s investment grade
2.0% 2.0%
Tenant diversity; exposure to any one
tenant no more than 3.3% of total ABR
1.9% 2.4%
As of 3/31/2016
16BUILDING BLOCKS OF GROWTH
LEASING - SMALL SHOPS
Small Shop Occupancy Progress to Date
92% Improved small shop ABR= $25.49 psf
90%
90.0% New leases last four quarters +10%
88.2%
88.6%
Spreads on renewals & options
88%
Last four quarters + 8%
86% 85.6%
84.0% The Path to 90% Occupancy
84%
82.3% Deal and occupancy bounties
82% 81.1%
Operator portfolio reviews
80%
1Q11 1Q'12 1Q'13 1Q'14 1Q'15 1Q'16 4Q'16E
Targeting of service-oriented tenants
17BUILDING BLOCKS OF GROWTH
VALUE CREATION FROM ANCHOR EXPIRATIONS
$20
Anchor Lease Spreads/Mark To Market
$18.51
$18
Mark to Market Spread on
$15.50 $15.56 +60% Anchor Leases: +58%
$16
$ABR/SF
$14.42 105 Naked Leases expiring
through 2018 totaling 1.7M sf
$14
+48% 4 Kmart Leases expiring
$12.53
+44% through 2018: 650% below
$12
+38% market
+35% $11.65 Total Average RPSF up 29%
$11.27
$10 $10.51 since 2010
$10.05
$9.28
$8
2013 Actual 2014 Actual 2015 Actual 2016-18E 2019E & After
New Rent Expiring Rent - - - Projected Rent
18REDEVELOPMENT
& DEVELOPMENT
The Boulevard, Staten Island, NYBUILDING BLOCKS OF GROWTH
REDEVELOPMENT PIPELINE
Total Pipeline | $3.0B+
Current | ~$1.0B Shadow | $2.0B+
Gross Costs $1.0B Major shopping center redevelopments
Projected NOI $80M Anchor tenant redevelopment
Value Creation $550M Pads & outparcels
Additional phases on prior redevelopments
Mixed-use
Incremental Return 8%-13%
Retail Redevelopment: 9%
Mixed-Use/ Residential: 6%
20BUILDING BLOCKS OF GROWTH
REDEVELOPMENT
Results Since 2013* ($M) Spending ($M)
Budgeted Actual Variance $250 $225 $225 $225
NOI $31 $33 +6% $200 $190
Costs $274 $269 (2%) $150 $135
$118
Value $214 $249 $34 $100 $77
Creation $42
$50
Incremental 11% 12% 1% $0
ROI 2013 2014 2015 2016E 2017E 2018E 2019E 2020E
Note: Numbers are represented in gross terms.
*Through 12/31/2015
21CURRENT REDEVELOPMENT PIPELINE
Gross Costs by Project Type ($MM) Gross Costs by Stage ($MM)
$60 Pads/Outlots
$405 Active
$80 Value Creation Design/Entitlements
(Anchor Repositioning) $466
Redevelopments
Evaluation
$860 (Change in GLA) $129
Project Cost by Estimated Year of Completion ($MM) $835
$689
$181 $129 $165 $137
$19 $16 $68 $49
2013 2014 2015 2016 2017 & Beyond
Gross Costs Pro Rata Costs
22BUILDING BLOCKS OF GROWTH
SELECTIVE GROUND-UP DEVELOPMENT
Pipeline
2015-2020 $740M
Projected ROIC 7% - 9%
Dania Pointe, Dania Beach, FL
Development Approach Risk Management
Retailer demand-driven 75% Pre-leased to build
Building additional concentration Phased construction
Build to own Experienced team
23
23GRAND PARKWAY MARKETPLACE:
GROUND-UP DEVELOPMENT
Project Summary:
Phase I: 468K sf power center anchored by Target
Phase II: 267K sf open-air center
Location: Phase I
─ Houston-The Woodlands-Sugar Land MSA
─ On Grand Parkway toll road near Exxon
Corporate Campus (>10k employees)
─ 168k people (5 mile radius)
─ Avg. household income >$100k (5 mile radius) Phase II
Timing & Economics:
Phase I:
Estimated costs= $86.2M
Estimated completion= 3Q 2017
Phase II:
Estimated costs= $51.9M
Estimated completion= 4Q 2018
24PROMENADE AT CHRISTIANA:
GROUND-UP DEVELOPMENT
Project Summary:
Develop 435k sf power center
Location:
─ New Castle County, Delaware
─ Fronting one half mile of I-95
─ 1/2 mile from GGP’s Christiana Mall which
produces sales of $990 psf
─ Destination shopping market due to no sales tax
Timing & Economics:
Estimated costs= $63.7M
Estimated completion= 2Q 2018
25DANIA POINTE:
GROUND-UP DEVELOPMENT
Project Summary: Phase I
Phase I: 300K sf open-air retail center anchored by
Costco
Phase II: Lifestyle Center with 550K sf of retail and
restaurants, residential, hotel and office
Location:
─ Miami-Ft. Lauderdale-West Palm Beach MSA
─ Fronting one quarter mile on I-95
─ Adjacent to Kimco’s Oakwood Plaza;
approximately 2 miles of combined I-95
exposure
Timing & Economics
Phase II
PMUD (Planned Mixed Used Development)
zoning ordinance created by Kimco
Estimated Project Costs= $263M
26OWINGS MILLS:
GROUND-UP DEVELOPMENT
Project Summary:
Develop 560K sf open-air center (de-malling)
Location:
─ Baltimore-Columbia-Towson MSA
─ Direct access ramp to 795 which connects
Carrol County with Baltimore County
─ Mass transit access within walking distance of
the property
Timing & Economics:
Estimated Costs= $107.2M
Estimated Completion= 3Q 2019
27INVESTMENT
STRATEGY
Crossroads Plaza, Cary, NC2020 VISION - INVESTMENT STRATEGY
SIMPLE, DISCIPLINED & SELECTIVE
Acquisition Criteria Disposition Criteria
Core markets where Kimco has scale/ density Assets with above average risk
Asset/ tenant quality Assets with limited growth potential
NAV impact Secondary markets
NOI growth potential
Redevelopment and value creation potential
Airport Plaza, Farmingdale, NY Plaza Paseo, Albuquerque, NM
Maintain Conservative Capital Structure
29INVESTMENT STRATEGY AT WORK
QUALITY TRANSFORMATION
Since 2010* Disposed Acquired
Number of U.S. Properties 340 201
Gross GLA 33M 27M
Gross Price ($B) $3.1 $5.4 +78%
Pro-rata Occupancy % 90.6% 95.8% +520 bps
Pro-rata ABR/sq. ft. $9.11 $14.63 +61%
Average Household Income $68,800 $89,400 +30%
Population 77,485 89,842 +16%
Improved Occupancy ● Stronger Strategic Markets ● Improved Demographics
*Reflects transactions since Investor Day 2010 through 3/31/2016.
Note: Demographics are weighted by pro-rata ABR within a 3-mile radius
30SIMPLIFIED OWNERSHIP STRUCTURE
SIGNIFICANT REDUCTION IN JOINT VENTURES SINCE 2010
JV Site Count JV Asset Value ($B)
Reduced by 68% Reduced by >51%
551
$12.3
$10.5
412
$6.3 $6.0
191 178
$4.0 $3.8 $2.2 $2.1
2010 2013 2015 1Q16 2010 2013 2015 1Q16
Kimco’s Pro Rata Share
31HIGH-QUALITY ACQUISITIONS
BUY WHAT YOU KNOW
Joint Venture Acquisitions Adjacent Parcel/Neighboring Property
Purchases
Since 2010 acquired: Since 2013 acquired:
101 Properties - $3.5B 36 Parcels - $197.2M
In-depth property knowledge Greater control
Negotiated transactions Improves cap rate on overall property
No broker fees Easier to execute redevelopment
No transfer taxes Highest and Best use optionality
32“PLUS”
BUSINESS
Long Gate S.C., Ellicott City, MDKIMCO’S ALBERTSONS INVESTMENT HISTORY
Purchases 877 stores including
Cerberus Consortium Divests 49 stores in Albertsons remaining Albertsons ,
buys 661 Albertsons Florida to Publix Jewel-Osco Acme, Jewel-Osco, Shaw’s, &
ACME Shaw’s Star Market banners from
Albertsons Star Market SuperValu
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
SAFEWAY
Divests 132 stores in Sale/Lease-back of 33 Safeway privatization,
NorCal and Nevada to properties 1,100 stores added to
SaveMart portfolio
2006: Albertsons Privatization
Invested $50M = 15% interest
2015: Safeway
Received $245M
Invested $85M
2013: Albertsons/SuperValu Reduced interest in overall
Two step transaction: Albertsons investment to 9.8%
Invested $37M for grocer banners Albertsons 2016: S-1 remains on file and up to
Ownership Stake: 13.6% date as the company continues to evaluate
market conditions
Acquired 8.2M SVU common shares for $33.2M ($4.11 sh)
Sold shares in 2015: $40M gain
34FINANCIAL
OVERVIEW
Conroe Marketplace, Conroe, TX2020 VISION - BALANCE SHEET STRENGTH
Strong liquidity position; $1.75B available from unsecured line of credit
Increase unencumbered asset pool
Lower Net Debt/Recurring EBITDA leverage levels
– Consolidated 5.0x – 5.5x
– Pro rata (including preferreds) 6.4x – 6.9x
Fixed Charge Coverage 3.0x+
Committed to strong investment grade ratings
– S&P: BBB+ | Moody’s: Baa1 | Fitch: BBB+
Meet with rating agencies in an effort to be placed on positive outlook for a
potential increase in credit rating to A-
36STRONG CAPITAL STRUCTURE
Since Investor Day 2013, refinanced ~$2B of maturing debt at significantly lower rates & extended
average debt maturity using a 30-year bond
Redeemed 6.9% preferred stock & implemented ATM program
Total Market Cap: $10.6B Total Market Cap: $18.1B*
Investor Day 2010 Today
2% 1%
6% 5%
8%
12%
20%
52%
28% 66%
Common Equity Unsecured Debt Mortgage Debt Preferred Stock Non-controlling Interest
* As of 3/31/2016
37WELL-STAGGERED DEBT MATURITIES
Consolidated Debt Fixed Rate 4.72%*
1,200
Floating Rate 1.42%*
17% 18%
900 Maturity 5.4 Yrs*
Debt in Millions
13%
11% 12%
600 9%
7% 7% 6%
300
0%
0
2016 2017 2018 2019 2020 2021 2022 2023 2024 Thereafter
Secured Unsecured Line of Credit Term Loan
1,200 Joint Venture Debt
35% Fixed Rate 5.26%*
900 Floating Rate 2.10%*
Debt in Millions
Maturity 2.9 Yrs*
600
15%
11% 12%
300 7% 8%
5% 4%
1% 2%
0
2016 2017 2018 2019 2020 2021 2022 2023 2024 Thereafter
*Weighted average Kimco's Share Partner's Share
Note: Percentages are annual maturities of total debt stack
382020 VISION – LEVERAGE VIEW
3.6x 3.6x
3.5x
6.0x 3.4x
Fixed Charge Coverage
5.8x
5.7x Net Debt/ Recurring EBITDA
3.0x 3.2x
5.5x
5.4x
5.2x
2015 2016 2017 2018 2019 2020
Grow Recurring EBITDA & Funds Available for Distribution (after common dividends)
Exit Canada
Monetize Albertsons investment
Opportunistic use of ATM program
Development/Redevelopment spending $250M - $400M per year
Modest net acquirer
39A LOOK BACK
SUCCESSFUL 5 YEARS OF GROWTH
Funds From Operations Dividends
$1.02*
$1.56
$0.96
$1.46
$1.45
$1.40
$0.90
$1.35
$1.33 $0.84
$1.27
$1.25
$1.26
$0.76
$1.21
$1.20
$1.14
$0.72
$0.64
2010 2011 2012 2013 2014 2015
2010 2011 2012 2013 2014 2015 2016
Recurring FFO Headline FFO
Maintained a ~5% Recurring & Headline FFO Consistently Raised Dividend Commensurate
CAGR Through Our Transformation With Recurring FFO/ Share Growth
*Current quarterly dividend annualized Conservative FFO Payout Ratio
402016 GUIDANCE
Assumptions Dilution Impact
U.S. Acquisitions: $450M to $550M 2015/ 2016 U.S./ Canada Dispositions
– Blended cap rate: ~5.00 - 6.00% – $2.2B: ~6.75% blended cap
U.S./ Canada Dispositions: $825M to 2015/ 2016 U.S. Acquisitions
$975M – $1.8B: ~5.00 - 6.00% blended cap rate
– Blended cap rate: ~6.75%
Generate Net Disposition Proceeds
Full Year U.S. Same-Site NOI: – Used to reduce debt
– Growth of 2.50% to 3.50%
Year End U.S. Occupancy:
Transformation Impact on 2016:
– 95.7% to 96.2% – FFO impact of ($0.06) per share on
Albertsons Monetization: growth
– 5% to 10% of investment
2016 Final year of dilution from portfolio transformation
Note: All figures are at Kimco’s share
412016 FFO GUIDANCE
FFO ($M) FFO/Share(2)
2015A 2016F 2015A 2016F
RECURRING:
U.S. Retail Portfolio $964 $977 - $1,004 $2.33 $2.33 - $2.40
International & Other 64 12 – 15 0.16 0.03 – 0.04
Corporate Financing (275) (235) - (242) (0.66) (0.56) - (0.58)
G&A (121) (118) - (121) (0.29) (0.28) - (0.29)
Income Taxes & Other (28) (16) - (20) (0.08) (0.04) - (0.05)
RECURRING FFO $604 $620 - $636 $1.46 $1.48 - $1.52
Transactional Income, Net (1) 40 25 – 42 0.10 0.06 - 0.10
HEADLINE FFO $644 $645 - $678 $1.56 $1.54 - $1.62
(1) Net of non-controlling interests
(2) Reflects diluted per share basis and the potential impact if certain units were converted to common stock at the beginning of the period
42APPENDIX The Marketplace at Factoria, Bellevue, WA
RECONCILIATION OF FFO TO NET INCOME
FFO ($M) FFO/Share (2)
2015A 2016F 2015A 2016F
FFO $644 $645 - $678 $1.56 $1.54 - $1.62
Depreciation and amortization (334) (330) - (344) (0.81) (0.79) - (0.82)
Depreciation and amortization real estate JV’s(1) (67) (46) - (52) (0.17) (0.11) - (0.12)
Gain on disposition of operating properties, net of tax(1) 124 27 – 37 0.30 0.06 - 0.09
Gain on disposition of JV operating properties, and
504 46 – 61 1.22 0.11 - 0.15
change in control of interests
Impairments of operating properties, net of tax(1) (40) _-_ (0.10) _-_
Net income available to common shareholders $831 $342 - $380 $2.00 $0.81 - $0.92
(1) Net of non-controlling interests
(2) Reflects diluted per share basis and the potential impact if certain units were converted to common stock at the beginning of the period
44COMPLETED: CASTOR PLACE – PHILADELPHIA, PA
Gross Costs: $16.2M Convert four-story former JC Penney’s into a multi-
tenant retail building
Incremental NOI: $1.5M Added vertical entrance, parking, common area for
2nd and 3rd floor tenants and renovated existing in-
line tenants
Incremental ROI: 9%
Burlington Coat Factory occupies 1st and lower
level; TJ Maxx and Bob’s Furniture occupy 2nd and
Incremental Value Creation: $5.2M 3rd levels
BEFORE AFTER
45IN PROGRESS: TRI-CITY PLAZA – LARGO, FL
Gross Costs: $28.8M Redeveloping 90% of shopping center to improve
traffic and pedestrian circulation
Incremental NOI: $2.8M Adding seven junior anchor and anchor tenants, as
well as 38K sf of small shop space
Incremental ROI: 9%-10% Executed leases with LA Fitness, Ross Dress for
Less and Petco
Incremental Value Creation: $12.7M
BEFORE AFTER
46FUTURE: HICKORY RIDGE – COLUMBIA, MD
Gross Costs: $80.0M Reconfiguring existing retail for better parking field
for the Giant Foods
Incremental NOI: $5.7M Adding approximately 250 market rate multi-family
units
Incremental ROI: 7% Creating a new public green space for the
community’s activities with the new retail facing
onto the square
Incremental Value Creation: $37M
BEFORE AFTER
47REDEVELOPMENT: MIXED USE OPPORTUNITIES
Reasons Why?
Unlock the highest and best use for EXISTING Real Estate, benefits the surrounding
community and makes the RETAIL more valuable
Kimco mitigating risk by either ground leasing the mixed use component or partnering with
best in class consultants
Unlocks the most value for our shareholders while retaining the ownership of the fee position
Active Projects
Wilde Lake (Apartments being constructed under a ground lease which is a portion of the site
to “best in class” apartment developer) Initial first residential move ins late 2016
Pentagon (Increasing NAV by developing two apartment towers, garage, retail; and exterior/
interior upgrades)
Design & Entitlements
Cupertino (Future opportunity for hotel or office on a ground lease)
48MIXED USE: WILDE LAKE – COLUMBIA, MD
The Project Future Projects
Total Project Costs: $18.9M 4 additional Columbia village centers for
redevelopment
Anticipated Stabilization: 4Q 2016
Total Project Costs: $300M-320M
Value Creation: $14M
Value Creation: $150M-200M
Incremental ROI: 8%
Original Village Center – located ½ mile from “Downtown”
Strategically located market with minimal class A residential
Specialty grocer located at project
Favorable entitlement process implemented, easing future
entitlements in same markets
Redevelop existing retail and newly construct:
32,000 sf retail
15,000 sf office
230 residential units
Ground lease residential structure
49KIMCO NOTES
KIMCO NOTES
KIMCO NOTES
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