v3.26.1
Investments in and Advances to Real Estate Joint Ventures (Tables)
 6 Months Ended
Jun. 30, 2026
Schedule of Equity Method Investments [Line Items]  
Schedule of Equity Method Investments The table below presents unconsolidated joint venture investments for which the Company held an ownership interest at June 30, 2026 and December 31, 2025 (in millions, except number of properties and GLA):

 

 

Noncontrolling
Ownership Interest

 

The Company’s Investment

 

Joint Venture

 

As of June 30, 2026

 

June 30, 2026

 

 

December 31, 2025

 

Prudential Investment Program

 

15.0%

 

$

120.6

 

 

$

120.1

 

Kimco Income Opportunity Portfolio (“KIR”)

 

52.1%

 

 

286.3

 

 

 

287.2

 

R2G Venture LLC (“R2G”)

 

51.5%

 

 

393.1

 

 

 

401.2

 

Canada Pension Plan Investment Board (“CPP”)

 

55.0%

 

 

174.3

 

 

 

202.3

 

Other Institutional Joint Ventures

 

Various

 

 

232.9

 

 

 

236.0

 

Other Joint Venture Programs

 

Various

 

 

206.7

 

 

 

207.3

 

Total*

 

 

 

$

1,413.9

 

 

$

1,454.1

 

 

* Represents 162 property interests and 24.4 million square feet of GLA, as of both June 30, 2026 and December 31, 2025.
Schedule of the Company's Share of Net Income/(Loss)

The table below presents debt balances within the Company’s unconsolidated joint venture investments for which the Company held noncontrolling ownership interests at June 30, 2026 and December 31, 2025 (dollars in millions):

 

 

As of June 30, 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

 

$

227.3

 

 

 

4.98

%

 

 

16.4

 

 

$

233.9

 

 

 

5.25

%

 

 

22.2

 

KIR

 

 

273.2

 

 

 

4.58

%

 

 

56.8

 

 

 

274.4

 

 

 

4.58

%

 

 

15.2

 

R2G

 

 

71.7

 

 

 

2.90

%

 

 

56.7

 

 

 

70.7

 

 

 

2.90

%

 

 

62.6

 

CPP (1)

 

 

-

 

 

 

-

 

 

 

-

 

 

 

79.3

 

 

 

5.25

%

 

 

7.0

 

Other Institutional Joint Ventures

 

 

222.9

 

 

 

5.41

%

 

 

41.8

 

 

 

222.7

 

 

 

5.41

%

 

 

47.7

 

Other Joint Venture Programs

 

 

533.1

 

 

 

4.81

%

 

 

34.7

 

 

 

538.2

 

 

 

5.04

%

 

 

33.0

 

Total

 

$

1,328.2

 

 

 

 

 

 

 

 

$

1,419.2

 

 

 

 

 

 

 
(1)
During the three months ended June 30, 2026, the CPP joint venture repaid $78.6 million of mortgage debt that encumbered an operating property.

 

* Includes extension options
Joint Ventures [Member]  
Schedule of Equity Method Investments [Line Items]  
Schedule of Equity Method Investments

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 and six months ended June 30, 2026 and 2025 (in millions):

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

Joint Venture

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Prudential Investment Program

 

$

2.0

 

 

$

2.3

 

 

$

4.3

 

 

$

5.4

 

KIR

 

 

9.9

 

 

 

8.2

 

 

 

20.3

 

 

 

18.3

 

R2G

 

 

3.2

 

 

 

2.0

 

 

 

6.4

 

 

 

4.3

 

CPP

 

 

12.5

 

 

 

3.0

 

 

 

15.4

 

 

 

6.2

 

Other Institutional Joint Ventures

 

 

1.6

 

 

 

1.0

 

 

 

3.4

 

 

 

2.1

 

Other Joint Venture Programs (1)

 

 

3.2

 

 

 

7.5

 

 

 

7.5

 

 

 

10.4

 

Total

 

$

32.4

 

 

$

24.0

 

 

$

57.3

 

 

$

46.7

 
(1)
During the three months ended June 30, 2025, the Company recognized $4.7 million of equity in income related to the restructuring of a joint venture.