RPT Realty debt to be subsumed by Kimco through acquisition

Chicago, Aug. 28 – RPT Realty’s acquisition by Kimco Realty will include the assumption of debt, according to an 8-K filing with the Securities and Exchange Commission.

The all-stock transaction has a $2 billion transaction value.

On RPT’s most recent 10-Q filing, the company listed $511.5 million in senior notes, $310 million in term loan facilities and $29 million outstanding on a revolver in addition to mortgage debt and finance lease obligations.

Maturities on the notes start in 2025 and end in 2031.

The term loans mature starting in 2026 through 2028.

The revolver has an Aug. 18, 2026 maturity date.

RPT is a New York-based real estate investment trust that owns and operates a portfolio of open-air shopping destinations. Kimco is a Jericho, N.Y., real estate investment trust that owns and operates neighborhood and community shopping centers.

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