Industry | 2014.03.12
Fitch: Kimco in Safeway Buyout Bucks REIT Sector Simplification
NEW YORK--(BUSINESS WIRE)--Kimco Realty Corp.\'s participation in the deal to buy Safeway Inc. runs counter to the REIT sector\'s movement towards simpler, more specialized models and capital structures that arose after the global financial crisis, Fitch Ratings says. However, Kimco\'s role is consistent with its own "Plus" strategy rather than the beginning of a reversal of the industry trend. The simplification trend has largely recognized that shareholders and creditors highly discount the valu
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