April was marked by a sudden flurry of activity among U.S. retail REITs. On April 11, Vornado Realty Trust, a diversified publicly traded REIT, announced it filed paperwork with the SEC to spin off a new entity, another publicly traded REIT devoted solely to 85 of its shopping centers. The same day, Kimco Realty Corp. revealed it was buying out its joint venture partner in 12 shopping centers in the Mid-Atlantic and the Northeast in a $408.2 million transaction. A day later, CBL & ...
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