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Davies acted for Kimco North Trust III, an entity controlled by Kimco Realty Corporation, in connection with the private placement issuance of $150 million principal amount of notes. Kimco Realty, the guarantor of the notes, has a market capitalization of approximately $5.7 billion, and is the largest publicly traded owner and operator of community shopping centers in North America. The transaction is reported to be the first time a US REIT has raised capital in Canada.

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2005