Friday, July 27, 2007

Brookfield, Kimco income rises

Income of two major real estate players in two different sectors is rising.

At Brookfield Properties net income doubled thanks to higher rent and asset sales. And at Kimco net income rose 18%, also on higher rent and on acquisitions instead of sales. As mentioned previously, strip center vacancies at properties such as those Kimco specializes in are up. But Kimco, the biggest player in the game, is apparently and not surprisingly doing a good job of keeping occupancy up. And if the NOI of individual properties rise, then so should its value, notwithstanding any subprime lending crisis.