Dentons represented Weingarten Realty Investors, a shopping center owner, manager and developer, in its definitive merger agreement with Kimco Realty Corp., one of North America's largest publicly traded owners and operators of open-air, grocery anchored shopping centers and mixed-use assets. Under the agreement, Weingarten will merge with and into Kimco, with Kimco continuing as the surviving public company.

The transaction brings together two industry-leading retail real estate platforms with highly complementary portfolios, creating a company with 559 open-air grocery-anchored shopping centers and mixed-use assets comprising approximately 100 million square feet of gross leasable area primarily concentrated in the top major metropolitan markets in the United States. The increased scale in targeted growth markets as well as a broader pipeline of redevelopment opportunities creates significant value for the company’s shareholders. The combined company is expected to have a pro forma equity market capitalization of approximately $12 billion and a pro forma total enterprise value of approximately $20.5 billion. 

The Dentons team included Corporate partners Toni Weinstein (Dallas), Don Hammett (Dallas), Raleigh Johnston (Dallas) and Matthew Garms (Kansas City), Corporate managing associate Christina Heddesheimer (Dallas) and Capital Markets associate Joseph Benavides (New York).

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