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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K/A
(Amendment No. 1)
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 21, 1998
(January 15, 1997)
Kimco Realty Corporation
(Exact name of registrant as specified in its charter)
Maryland 1-10899 13-2744380
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(State or other (Commission File Number) (IRS Employer
jurisdiction of Identification No.)
incorporation)
3333 New Hyde Park Road
New Hyde Park, New York 11042/0-0020
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(Address of principal executive (zip code)
offices)
516/869-9000
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Registrant's telelphone,
including area code
Not Applicable
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(former name or former address, if changed since last report.)
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KIMCO REALTY CORPORATION AND SUBSIDIARIES
CURRENT REPORT
ON
FORM 8-K/A
Item 5. Other Events
Shopping Center Acquisitions -
The financial information included herein supplements the information
provided on Form 8-K filed on January 22, 1998.
Retail Property Acquisitions -
As reported in the Company's Quarterly Report on Form 10-Q for the
quarterly period ended September 30, 1997, certain subsidiaries of the Company's
acquired interests in 49 fee and leasehold properties from a retailer,
comprising approximately 5.9 million square feet of leaseable area located in
Illinois, Missouri, Texas, Oklahoma, Kansas, Indiana and Iowa. The aggregate
price was approximately $130 million, consisting of $70.5 million in cash and
the assumption of approximately $59.5 million of existing mortgage debt on
certain of these properties.
Financial statement information required under Item 7 of Form 8-K was
not required in connection with this retail property acquisition since this was
an acquisition of non-operating rental real estate assets from a retailer in a
sale/leaseback transaction and not a business with financial statements and
information of the type required by Item 7. Accordingly, no Form 8-K was filed
in this regard.
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KIMCO REALTY CORPORATION AND SUBSIDIARIES
CERTAIN ACQUIRED PROPERTIES
COMBINED HISTORICAL SUMMARY OF REVENUE
AND CERTAIN OPERATING EXPENSES
NINE MONTHS ENDED SEPTEMBER 30, 1997
(UNAUDITED)
Revenue:
Base rentals $5,464,283
Operating reimbursements and other income 1,376,765
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6,841,048
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Certain operating expenses:
Real estate taxes 627,889
Repairs and maintenance 977,472
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1,605,361
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Excess of revenue over certain
operating expenses $5,235,687
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KIMCO REALTY CORPORATION AND SUBSIDIARIES
CERTAIN ACQUIRED PROPERTIES
NOTES TO COMBINED HISTORICAL SUMMARY OF REVENUE
AND CERTAIN OPERATING EXPENSES
(UNAUDITED)
1. Certain Properties Acquired
The Combined Historical Summary of Revenue and Certain Operating Expenses
relates to the operations of the following certain acquired properties (the
"Certain Acquired Properties"), while under ownership previous to Kimco Realty
Corporation and Subsidiaries.
Property Name Location
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Maplewood Plaza Coral Springs, FL
Mountainside Plaza Phoenix, AZ
Acadiana Square Shopping Center Lafeyette, LA
The Festival at Manassas Manassas, VA
The Gallery Shopping Center Greenville, SC
Tri-Cities Square Shopping Center Mount Dora, FL
North Rivers Market North Charleston, SC
2. Basis of Presentation
The Combined Historical Summary has been prepared on the accrual method of
accounting. Certain operating expenses include operating and maintenance costs,
real estate taxes, and insurance expenses relating to the operation of the
Certain Acquired Properties. In accordance with the regulations of the
Securities and Exchange Commission, mortgage interest, depreciation and general
and administrative expenses have been excluded from Certain operating expenses,
as such costs are dependent upon a particular owner, purchase price or other
financial agreement.
3. Revenue Recognition
Minimum revenues from rental property are recognized on a straight-line basis
over the terms of the related leases.
The future minimum revenues from rental property under the terms of all
noncancellable tenant leases are approximately as follows:
1998 $ 7,032,000
1999 $ 6,546,000
2000 $ 6,080,000
2001 $ 5,657,000
2002 $ 4,875,000
Thereafter $ 43,082,000
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