Kimco Realty Publishes First Green Bond Report
28 Luglio 2021 - 2:00PM
Business Wire
- Allocates Green Bond Net Proceeds to Finance
LEED Silver Certified Mixed-Use Development -
Kimco Realty Corp. (NYSE: KIM), one of North America’s largest
publicly traded owners and operators of open-air, grocery-anchored
shopping centers and mixed-use assets, today announced the
publication of its first Green Bond Report, outlining the use of
the net proceeds and the associated estimated environmental impact
of the Company’s inaugural green bond, issued in July of 2020.
"The issuance of our first green bond in 2020 was a significant
milestone in our ESG program, and we are pleased to announce the
estimated impact of those proceeds in our inaugural year," said
Conor Flynn, Chief Executive Officer of Kimco Realty. "Our green
bond issuance, and the tying of our financing directly to our
sustainability goals, demonstrates the depth of our commitment to
high quality, sustainable real estate and our steadfast belief that
ESG leadership enhances our ability to create long-term value for
all of our stakeholders.”
Of the $493.7 million in net proceeds from the from the July 7,
2020 green bond issuance, $64.2 million was allocated to finance
The Witmer®, a LEED Silver certified mixed-use tower in Arlington,
Virginia, which qualifies under the Green Building category of
Eligible Green Projects as defined in Kimco’s Green Bond
Framework.
The Witmer is a 26-story, 440-unit residential tower with ground
floor retail on the site of Kimco’s Pentagon Centre Signature
Series® project, near the heart of DC. The building was designed
using the latest in green construction standards, resulting in an
estimated 25% energy cost savings annually. Additional project
highlights contributing to its LEED Silver certification include
the use of sustainable materials, energy-efficient building
features, and sustainable water and wastewater management
systems.
Additional information on Kimco’s industry leading ESG
initiatives and its publicly stated ESG goals can be found in the
Company’s 2020 Corporate Responsibility Report.
About Kimco
Kimco Realty Corp. (NYSE:KIM) is a real estate investment trust
(REIT) headquartered in Jericho, N.Y. that is one of North
America’s largest publicly traded owners and operators of open-air,
grocery-anchored shopping centers and mixed-use assets. The
company’s portfolio is primarily concentrated in the first-ring
suburbs of the top major metropolitan markets, including those in
high barrier-to-entry coastal markets and rapidly expanding Sun
Belt cities, with a tenant mix focused on essential,
necessity-based goods and services that drive multiple shopping
trips per week. Kimco is also committed to leadership in
environmental, social and governance (ESG) issues and is a
recognized industry leader in these areas. Publicly traded on the
NYSE since 1991, and included in the S&P 500 Index, the company
has specialized in shopping center ownership, management,
acquisitions, and value enhancing redevelopment activities for more
than 60 years. As of March 31, 2021, the company owned interests in
398 U.S. shopping centers and mixed-use assets comprising 70
million square feet of gross leasable space. For further
information, please visit www.kimcorealty.com
The company announces material information to its investors
using the company’s investor relations website
(investors.kimcorealty.com), SEC filings, press releases, public
conference calls, and webcasts. The company also uses social media
to communicate with its investors and the public, and the
information the company posts on social media may be deemed
material information. Therefore, the company encourages investors,
the media, and others interested in the company to review the
information that it posts on the social media channels, including
Facebook (www.facebook.com/KimcoRealty), Twitter
(www.twitter.com/kimcorealty), YouTube
(www.youtube.com/kimcorealty) and LinkedIn
(www.linkedin.com/company/kimco-realty-corporation). The list of
social media channels that the company uses may be updated on its
investor relations website from time to time.
Safe Harbor Statement
The statements in this news release state the company’s and
management’s 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 which
may cause actual results to differ materially from current
expectations include, but are not limited to, (i) general adverse
economic and local real estate conditions, (ii) the inability of
major tenants to continue paying their rent obligations due to
bankruptcy, insolvency or a general downturn in their business,
(iii) financing risks, such as the inability to obtain equity, debt
or other sources of financing or refinancing on favorable terms to
the company, (iv) the company’s ability to raise capital by selling
its assets, (v) changes in governmental laws and regulations and
management’s ability to estimate the impact of such changes, (vi)
the level and volatility of interest rates and management’s ability
to estimate the impact thereof, (vii) pandemics or other health
crises, such as coronavirus disease 2019 (COVID-19), (viii) the
availability of suitable acquisition, disposition, development and
redevelopment opportunities, and risks related to acquisitions not
performing in accordance with our expectations, (ix) valuation and
risks related to the company’s joint venture and preferred equity
investments, (x) valuation of marketable securities and other
investments, (xi) increases in operating costs, (xii) changes in
the dividend policy for the company’s common and preferred stock
and the company’s ability to pay dividends, (xiii) the reduction in
the company’s income in the event of multiple lease terminations by
tenants or a failure by multiple tenants to occupy their premises
in a shopping center, (xiv) impairment charges and (xv)
unanticipated changes in the company’s intention or ability to
prepay certain debt prior to maturity and/or hold certain
securities until maturity. 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 Securities and Exchange Commission (“SEC”) filings.
Copies of each filing may be obtained from the company or the
SEC.
The company refers you to the documents filed by the company
from time to time with the SEC, specifically the section titled
“Risk Factors” in the company’s Annual Report on Form 10-K for the
year ended December 31, 2020, as may be updated or supplemented in
the company’s Quarterly Reports on Form 10-Q and the company’s
other filings with the SEC, which discuss these and other factors
that could adversely affect the company’s results. The company
disclaims any intention or obligation to update the forward-looking
statements, whether as a result of new information, future events
or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20210728005321/en/
David F. Bujnicki Senior Vice President, Investor Relations and
Strategy Kimco Realty Corporation 1-866-831-4297
dbujnicki@kimcorealty.com
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