A publicly traded and locally based real estate investment trust was recently part of a major merger in the commercial real estate industry.
Supermarket News reported that grocery-anchored shopping center owner Kimco Realty Corp. would acquire Weingarten Realty Investors, a Houston-based company with its headquarters in the Shady Acres area, in a $3.87 billion deal. The transaction creates one of the nation’s largest public owner-operators of open-air, grocery-anchored shopping centers and mixed-use properties.
Their combined portfolio will include 559 such shopping centers and developments — many of them in Houston and the surrounding area — and encompass about 100 million square feet of leasable area.
“Combining these highly complementary platforms is a win-win for shareholders of both companies,”…