...The Road Ahead
The world is awash in information – frequently delivered instantaneously – now, more than ever. Yet, even with all of the data in front of us, it seems it is increasingly difficult to predict the future. Will the emerging economic recovery sustain itself? When will real job growth begin? How will consumers react? How will our tenants be affected? Can the capital markets retain their recent strength? Will opportunities to acquire quality assets at attractive prices eventually surface? What will happen to interest rates as the bill comes due from the massive stimulus spending?
This is a tough time to make business and investment decisions. Our approach is to combat complexity with a simple focus– be the premier owner and operator of shopping centers. We believe in the shopping center business. Well-located centers with the right tenant mix that are aggressively managed and conservatively financed will provide safe and durable cash flow, as well as the opportunity to grow that cash flow and increase value over time. The past two years have reminded us that real estate remains a cyclical business, and with each cycle we learn something to take with us on the road forward. We see now, more than ever, what differentiates us. The entire Kimco organization is committed to delivering what is expected of us, and doing so within these core principles: Integrity, Creativity and Stability.
Aggressively Managed & Conservatively Financed
(featured in photos, top to bottom) Bruce Rubenstein, Senior Vice President, General Counsel & Secretary;
Glenn G. Cohen, Senior Vice President, Treasurer & Chief Accounting Officer
