Kimco Realty Achieves Full Green Bond Allocation, Boosts Renewable and Sustainable Projects

Kimco Realty, a leading real estate investment trust (REIT) specializing in high-quality, open-air, grocery-anchored shopping centers and mixed-use properties across the U.S., has successfully achieved full allocation of $493.7 million from its inaugural green bond issued in July 2020. This milestone underscores Kimco’s commitment to sustainable growth and environmental stewardship.

Glenn G. Cohen, Kimco’s Executive Vice President and CFO, expressed pride in the achievement, stating, “We are incredibly proud to have achieved full allocation of our inaugural green bond – an achievement which demonstrates our commitment to sustainable growth and prudent financial management. By investing in projects such as green buildings, renewable energy, and sustainable water and energy projects, we are not only enhancing the value of our assets but also delivering long-term benefits to our investors and communities.”

Sustainable Projects Funded

Kimco’s green bond allocation has funded several impactful projects:

• Renewable Energy: A 988.8 kW solar project at Carmans Plaza in Massapequa, NY, is expected to generate 1.2 GWh of renewable energy annually, reducing approximately 678 metric tonnes of CO2 emissions each year.
• Green Buildings: Investments supported LEED Silver certified projects, including The Milton and The Witmer® towers at Pentagon Centre in Arlington, VA, and the West Alex mixed-use building in Alexandria, VA. Additionally, 19 ENERGY STAR Certified tenant spaces benefited from these funds.
• Energy Efficiency: At 129 properties, energy efficiency initiatives led to an estimated reduction of 7,500 metric tonnes of CO2 equivalent (MTCO2e), demonstrating Kimco’s proactive approach to minimizing environmental impact.
• Sustainable Water Management: Water efficiency projects at 46 properties, such as Dania Pointe in Dania Beach, FL, achieved an average water efficiency improvement of over 35%, with stormwater systems designed to withstand extreme weather events.

These projects align with Kimco’s long-term public goals, reinforcing its position as an industry leader in corporate responsibility and environmental sustainability. The successful allocation of the green bond highlights Kimco’s commitment to enhancing asset value while delivering significant environmental and community benefits.