NEW HYDE PARK, NY—Kimco Realty has bought out its joint venture partner SEB Asset Management to take full ownership in a portfolio of 10 shopping enters in the Mid-Atlantic region, most of which are grocery-anchored properties. The REIT paid $275.8 million for the remaining 85% equity interest in the 1.4-million-square foot portfolio, including the assumption of $193.6 million in mortgage debt.

The properties are located in markets with high barriers to entry and strong household income levels, the REIT reports. The portfolio is 95.4% occupied and anchored by such brands as Giant Food, Harris Teeter, Weis Markets, Safeway and Food Lion. Shadow anchors include Kroger, Target, Lowes and Sam’s Club. Other tenants are Ross Stores, Bed Bath & Beyond, Marshalls, Kohl’s, PetSmart, and Michaels.

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