The Company has investments in and advances to various real estate joint ventures. These joint ventures are engaged primarily in the operation of shopping centers which are either owned or held under long-term operating leases. The Company and the joint venture partners have joint approval rights for major decisions, including those regarding property operations. As such, the Company holds noncontrolling interests in these joint ventures and accounts for them under the equity method of accounting. The Company manages certain of these joint venture investments and, where applicable, earns acquisition fees, leasing commissions, property management fees, asset management fees and construction management fees. The table below presents unconsolidated joint venture investments for which the Company held an ownership interest at March 31, 2026 and December 31, 2025 (in millions, except number of properties and GLA):


	Noncontrolling Ownership Interest	The Company’s Investment
Joint Venture	As of March 31, 2026	March 31, 2026		December 31, 2025
Prudential Investment Program	15.0%	$	120.2	$	120.1
Kimco Income Opportunity Portfolio (“KIR”)	52.1%		287.2		287.2
R2G Venture LLC (“R2G”)	51.5%		396.7		401.2
Canada Pension Plan Investment Board (“CPP”)	55.0%		200.5		202.3
Other Institutional Joint Ventures	Various		233.6		236.0
Other Joint Venture Programs	Various		207.8		207.3
Total*		$	1,446.0	$	1,454.1

* Represents 114 property interests, 48 other property interests and 24.4 million square feet of GLA, as of both March 31, 2026 and December 31, 2025.

The table below presents the Company’s share of net income for the above investments, which is included in Equity in income of joint ventures, net on the Company’s Condensed Consolidated Statements of Income for the three months ended March 31, 2026 and 2025 (in millions):


	Three Months Ended March 31,
Joint Venture	2026		2025
Prudential Investment Program	$	2.2	$	3.1
KIR		10.5		10.1
R2G		3.2		2.3
CPP		2.8		3.2
Other Institutional Joint Ventures		1.7		1.1
Other Joint Venture Programs		4.4		2.9
Total	$	24.8	$	22.7

During the three months ended March 31, 2025, certain of the Company’s real estate joint ventures disposed of an operating property and a land parcel in separate transactions, for an aggregate sales price of $39.8 million. These transactions resulted in an aggregate net gain to the Company of $0.8 million for the three months ended March 31, 2025, which is included in Equity in income of joint ventures, net on the Company’s Condensed Consolidated Statements of Income.

The table below presents debt balances within the Company’s unconsolidated joint venture investments for which the Company held noncontrolling ownership interests at March 31, 2026 and December 31, 2025 (dollars in millions):


	As of March 31, 2026							As of December 31, 2025
Joint Venture	Mortgages and Notes Payable, Net		Weighted Average Interest Rate			Weighted Average Remaining Term (months)*		Mortgages and Notes Payable, Net		Weighted Average Interest Rate			Weighted Average Remaining Term (months)*
Prudential Investment Program	$	233.5		5.19	%		19.3	$	233.9		5.25	%		22.2
KIR		273.0		4.58	%		59.8		274.4		4.58	%		15.2
R2G		71.2		2.90	%		59.7		70.7		2.90	%		62.6
CPP		79.0		5.25	%		4.0		79.3		5.25	%		7.0
Other Institutional Joint Ventures		222.9		5.41	%		44.7		222.7		5.41	%		47.7
Other Joint Venture Programs		535.0		4.86	%		37.7		538.2		5.04	%		33.0
Total	$	1,414.6						$	1,419.2

* Includes extension options