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Prepared and filed by St Ives Financial
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<p align="center"><font size="4" face="serif"><b>UNITED STATES<br>
SECURITIES AND EXCHANGE COMMISSION</b></font><br>
<font size="2" face="serif"><b>Washington, D.C. 20549</b></font></p>
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<p align="center"><b><font face="serif" size="5">FORM 8-K</font></b></p>  <table width="100%" cellspacing="0" cellpadding="0" border="0">
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<td align="center"><font size="3" face="serif"><b>CURRENT REPORT</b></font></td>
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<td align="center"><font size="2" face="serif"><b>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</b></font></td>
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<p align="center"><font size="2" face="serif">Date of Report (Date of earliest
event reported): June 29, 2006</font></p>
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<td align="center"><font size="2" face="serif"><b><font face="serif" size="6">Feldman Mall Properties, Inc.</font></b></font></td>
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<td align="center"><font size="2" face="serif">(Exact name of registrant as specified in its charter)</font></td>
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<td align="center" valign="bottom"><font size="2" face="serif">Maryland</font></td>
<td width="5%" align="center" valign="bottom">&nbsp;</td>
<td width="20%" align="center" valign="bottom"><font size="2" face="serif">001-32365</font></td>
<td width="5%" align="center" valign="bottom">&nbsp;</td>
<td width="29%" align="center" valign="bottom"><font size="2" face="serif">13-4284187</font></td>
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<td align="center" valign="top"><font size="2" face="serif">(State or other jurisdiction of</font><br><font size="2" face="serif">incorporation)</font></td>
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<td align="center" valign="top"><font size="2" face="serif">(Commission File Number) </font></td>
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<td align="center" valign="top"><font size="2" face="serif">(IRS Employer</font><br><font size="2" face="serif">Identification Number)</font></td>
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<td align="center" valign="bottom"><font size="2" face="serif">1010 Northern Boulevard, Suite 314</font><br><font size="2" face="serif">Great Neck, NY </font></td>
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<td align="center" valign="bottom"><font size="2" face="serif">11021</font></td>
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<td align="center" valign="top"><font size="2" face="serif">(Address of principal executive offices)</font></td>
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<td align="center" valign="top"><font size="2" face="serif">(Zip Code)</font></td>
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<p align="center"><font size="2" face="serif">Registrant&#8217;s telephone number, including area code:  602-277-5559</font></p>  <table width="100%" cellspacing="0" cellpadding="0" border="0">
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<td align="center"><font size="2" face="serif">N/A</font></td>
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<td align="center"><font size="2" face="serif">(Former name or former address, if changed since last report.)</font></td>
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<p align="left"><font size="2" face="serif">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):</font></p>  <table width="100%" cellspacing="0" cellpadding="0" border="0">
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<td align="left"><font size="2" face="serif"> Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></td>
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<td align="left"><font size="2" face="serif">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></td>
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<td align="left"><font size="2" face="serif"> Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></td>
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<td align="left"><font size="2" face="serif"> Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></td>
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<td align="left" width="10%"><font size="2" face="serif"><b>ITEM 2.01</b></font></td>
<td align="left"><font size="2" face="serif"><b>Completion of Acquisition or Disposition of Assets.</b></font></td>
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<p align="left"><font size="2" face="serif"><b>Joint Venture with Kimco Realty Corp.</b></font></p>
<p align="left"><font size="2" face="serif">On July 6, 2006, Feldman Mall Properties,
    Inc. (the &#8220;Company&#8221;) announced the completion of a joint venture
    with a subsidiary of Kimco Realty Corporation (&#8220;Kimco&#8221;) in connection
    with the Foothills Mall (the &#8220;Mall&#8221;) located in the suburbs of
    Tucson, Arizona on June 29, 2006. As previously announced, on February 22,
    2006, Foothills Mall LLC (the &#8220;Owner&#8221;), a subsidiary of the Company,
    entered into a contribution agreement (the &#8220;Contribution Agreement&#8221;)
    with KRC Acquisition Corp., a Delaware corporation and a subsidiary of Kimco,
    in connection with the Mall. Under the terms of the Contribution Agreement,
    the Owner contributed the Mall to a limited liability company at an agreed
    upon value of $104 million, plus certain closing costs.  Kimco&#8217;s initial
    contribution to the venture was approximately $14.8 million.  </font></p>
<p align="left"><font size="2" face="serif">Pursuant to the terms of the Contribution
    Agreement, the Owner received a distribution of approximately $40.0 million
    and will retain a $7.2 million equity interest in the Mall. Kimco will receive
    a preferred return on its capital from the Mall&#8217;s
    cash flow. Upon a sale or refinancing of the Mall, Kimco is also entitled
    to receive a priority return of its capital together will any unpaid accrued
    preferred return. After certain adjustments, the Owner is next entitled to
    receive an 8% return on its capital interest. Thereafter, all surplus proceeds
    will be split 20% to Kimco and 80% to the Owner. Additionally, the Owner
    agreed to serve as the managing member of the limited liability company and
    will retain primary
management, leasing and construction oversight.</font></p>
<p align="left"><font size="2" face="serif">Concurrent with the execution of the Contribution Agreement, the Company&#8217;s operating partnership subsidiary, Feldman Equities Operating Partnership, LP (&#8220;FEOP&#8221;), and Kimco Capital Corp. (the &#8220;Lender&#8221;), a subsidiary of Kimco, executed a promissory note (the &#8220;Note&#8221;) for a bridge loan facility in the amount of $17.2 million on February 17, 2006.  In accordance with the terms of the joint venture, FEOP has repaid $5.0 million that was outstanding on the bridge loan facility and the facility has been extinguished.</font></p>
<p align="left"><font size="2" face="serif">In connection with the recapitalization
    of the Mall, the Company, through FMP Kimco Foothills LLC, a Delaware limited
    liability company and subsidiary of the Company (the &#8220;Borrower&#8221;),
    also refinanced the property with a new $81.0 million 10-year fixed rate
    first mortgage loan (the &#8220;Loan&#8221;) on June 29, 2006. The Loan bears
    interest at 6.08% per annum and matures on July 1, 2016. The Loan requires
    principal
    amortization over 30 years commencing on July 1, 2011. The Loan was provided
    by J.P. Morgan Mortgage Capital, Inc. a subsidiary of JPMorgan Chase Bank,
    N.A. and J.P. Morgan Chase &amp; Co. Inc.  On June 29, 2006, the Company
    also defeased the existing loan on the Mall which had been originated by
    Archon
    Group,
    LP and
    was later sold to a bondholder trust and was serviced by Wachovia Bank, National
    Association (the &#8220;Original Loan&#8221;).  The Original Loan had an
    outstanding principal balance of approximately $54.8 million as of the date
    of defeasance, a fixed interest rate of 5.09% and a maturity date of November
    1, 2008.  </font></p>
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<td align="left" width="10%"><font size="2" face="serif"><b>ITEM 2.03</b></font></td>
<td align="left"><font size="2" face="serif"><b>Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registration.</b></font></td>
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<p align="left"><font size="2" face="serif">Please see the disclosure contained under Item 2.01 above, which is incorporated herein by reference.</font></p>

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<td align="left" width="10%"><font size="2" face="serif"><b>ITEM 2.04</b></font></td>
<td align="left"><font size="2" face="serif"><b>Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement.</b></font></td>
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<p align="left"><font size="2" face="serif">Please see the disclosure contained under Item 2.01 above, which is incorporated herein by reference.</font></p>
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<p align="center"><font size="2" face="serif">2</font></p>
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<p><a href="#contents"><font size="2">Back to Contents</font></a></p>
<p align="center"><font size="2" face="serif"><b>SIGNATURES</b></font></p>
<p align="left"><font size="2" face="serif">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</font></p>  <table width="100%" cellspacing="0" cellpadding="0" border="0">
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  <td colspan="3" align="left"><font size="2" face="serif">FELDMAN MALL PROPERTIES, INC.</font></td>
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  <td width="5%" align="left"><font size="2" face="serif">By: </font></td>
  <td colspan="2" align="left"><font size="2" face="serif">/s/ Thomas E. Wirth</font></td>
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    </td>
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  <td align="left"><font size="2" face="serif">Name: </font></td>
  <td align="left"><font size="2" face="serif">Thomas E. Wirth</font></td>
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  <td width="5%" align="left">&nbsp;</td>
  <td align="left"><font size="2" face="serif">Title:</font></td>
  <td align="left"><font size="2" face="serif">   Executive Vice President and
    Chief Financial Officer</font></td>
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<p align="left"><font size="2" face="serif">Date: July 6, 2006</font></p>
<p align="center"><font face="serif" size="2">3</font></p>
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Prepared and filed by St Ives Financial
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest
event reported): June 29, 2006
Feldman Mall Properties, Inc.
(Exact name of registrant as specified in its charter)
Maryland
001-32365
13-4284187
(State or other jurisdiction of
incorporation)
(Commission File Number)
(IRS Employer
Identification Number)
1010 Northern Boulevard, Suite 314
Great Neck, NY
11021
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including area code:  602-277-5559
N/A
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Back to Contents
ITEM 2.01
Completion of Acquisition or Disposition of Assets.
Joint Venture with Kimco Realty Corp.
On July 6, 2006, Feldman Mall Properties,
    Inc. (the "Company") announced the completion of a joint venture
    with a subsidiary of Kimco Realty Corporation ("Kimco") in connection
    with the Foothills Mall (the "Mall") located in the suburbs of
    Tucson, Arizona on June 29, 2006. As previously announced, on February 22,
    2006, Foothills Mall LLC (the "Owner"), a subsidiary of the Company,
    entered into a contribution agreement (the "Contribution Agreement")
    with KRC Acquisition Corp., a Delaware corporation and a subsidiary of Kimco,
    in connection with the Mall. Under the terms of the Contribution Agreement,
    the Owner contributed the Mall to a limited liability company at an agreed
    upon value of $104 million, plus certain closing costs.  Kimco's initial
    contribution to the venture was approximately $14.8 million.
Pursuant to the terms of the Contribution
    Agreement, the Owner received a distribution of approximately $40.0 million
    and will retain a $7.2 million equity interest in the Mall. Kimco will receive
    a preferred return on its capital from the Mall's
    cash flow. Upon a sale or refinancing of the Mall, Kimco is also entitled
    to receive a priority return of its capital together will any unpaid accrued
    preferred return. After certain adjustments, the Owner is next entitled to
    receive an 8% return on its capital interest. Thereafter, all surplus proceeds
    will be split 20% to Kimco and 80% to the Owner. Additionally, the Owner
    agreed to serve as the managing member of the limited liability company and
    will retain primary
management, leasing and construction oversight.
Concurrent with the execution of the Contribution Agreement, the Company's operating partnership subsidiary, Feldman Equities Operating Partnership, LP ("FEOP"), and Kimco Capital Corp. (the "Lender"), a subsidiary of Kimco, executed a promissory note (the "Note") for a bridge loan facility in the amount of $17.2 million on February 17, 2006.  In accordance with the terms of the joint venture, FEOP has repaid $5.0 million that was outstanding on the bridge loan facility and the facility has been extinguished.
In connection with the recapitalization
    of the Mall, the Company, through FMP Kimco Foothills LLC, a Delaware limited
    liability company and subsidiary of the Company (the "Borrower"),
    also refinanced the property with a new $81.0 million 10-year fixed rate
    first mortgage loan (the "Loan") on June 29, 2006. The Loan bears
    interest at 6.08% per annum and matures on July 1, 2016. The Loan requires
    principal
    amortization over 30 years commencing on July 1, 2011. The Loan was provided
    by J.P. Morgan Mortgage Capital, Inc. a subsidiary of JPMorgan Chase Bank,
    N.A. and J.P. Morgan Chase & Co. Inc.  On June 29, 2006, the Company
    also defeased the existing loan on the Mall which had been originated by
    Archon
    Group,
    LP and
    was later sold to a bondholder trust and was serviced by Wachovia Bank, National
    Association (the "Original Loan").  The Original Loan had an
    outstanding principal balance of approximately $54.8 million as of the date
    of defeasance, a fixed interest rate of 5.09% and a maturity date of November
    1, 2008.
ITEM 2.03
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registration.
Please see the disclosure contained under Item 2.01 above, which is incorporated herein by reference.
ITEM 2.04
Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement.
Please see the disclosure contained under Item 2.01 above, which is incorporated herein by reference.
2
Back to Contents
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
FELDMAN MALL PROPERTIES, INC.
By:
/s/ Thomas E. Wirth
Name:
Thomas E. Wirth
Title:
Executive Vice President and
    Chief Financial Officer
Date: July 6, 2006
3