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Weingarten acquired by Kimco Realty Corp. | Real Estate

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    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,”…

    Read more at www.theleadernews.com

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