Kimco Realty Corporation is an owner and operator of neighborhood and community shopping centers. It is a self-administered real estate investment trust (REIT) and its management has owned and operated neighborhood and community shopping centers. The Company has not engaged, nor does it expect to retain, any REIT advisors in connection with the operation of its properties. As of December 31, 2008, the Company had interests in 1,950 properties, totaling approximately 182.2 million square feet of gross leasable area located in 45 states, Puerto Rico, Canada, Mexico, Chile, Brazil and Peru. The Company’s ownership interests in real estate consist of its consolidated portfolio and in portfolios where the Company owns an economic interest, such as properties in the Company’s investment management programs, where the Company partners with institutional investors and also retains management. In November 2009, the Company completed the purchase of the remaining 85% interest in PL Retail LLC.