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Kite Realty Group Trust (NYSE: KRG) is a full-service, vertically-integrated real estate investment trust (REIT) headquartered in Indianapolis, IN. The company specializes in the ownership, operation, acquisition, development, and redevelopment of high-quality open-air shopping centers and mixed-use assets across the United States.
As of June 30, 2016, Kite Realty Group Trust had interests in a portfolio of 121 operating, development, and redevelopment properties totaling approximately 24 million square feet located in 20 states. Their core business strategy focuses on maximizing the cash flow of their operating properties, successfully completing the construction and lease-up of their development portfolio, and identifying additional growth opportunities through acquisitions and redevelopments.
The company places a significant emphasis on grocery-anchored neighborhood and community centers, particularly in high-growth Sun Belt regions and select strategic gateway markets. This, combined with vibrant mixed-use assets, makes their portfolio appealing to both retailers and consumers.
One of their latest projects includes the management of Cool Springs Market in Franklin, Tennessee, which welcomes a new Nordstrom Rack store scheduled to open in fall 2024. This addition highlights the company's continuous efforts in enhancing their property offerings and expanding their footprint in strategic locations.
Kite Realty Group Trust generates a majority of its revenue from contractual rents and reimbursement payments received from tenants. Their long-term success is driven by nearly 60 years of experience in developing, constructing, and operating real estate, coupled with a robust strategy to leverage existing infrastructure and relationships to generate attractive risk-adjusted returns.
For more information, please visit kiterealty.com.
Kite Realty Group Trust (NYSE: KRG) has successfully closed a $175 million offering of 0.75% exchangeable senior notes due in 2027. An additional $25 million may be purchased by initial buyers. These senior unsecured notes pay interest semi-annually and are exchangeable into cash or common shares of the company, with an exchange price of approximately $25.21 per share. Proceeds will be used to finance capped call transactions and repay existing debt. The offering is aimed at qualified institutional buyers and is not registered under the Securities Act.
Kite Realty Group Trust (NYSE: KRG) announced the pricing of $175 million 0.75% exchangeable senior notes due 2027 by its operating partnership. The notes will offer semi-annual interest payments and are exchangeable under specific conditions. The offering, which may close on March 22, 2021, has an initial exchange rate of approximately 39.6628 common shares per $1,000 of notes. The estimated net proceeds of about $169.7 million will be used for capped call transactions, debt repayment, and general corporate purposes, supporting the company’s financial strategy.
Kite Realty Group Trust (NYSE: KRG) announced a private placement offering of $175 million in exchangeable senior notes due 2027. The notes will be unsecured obligations, with interest payable semi-annually. An additional $25 million may be offered. The proceeds will be used for capped call transactions, debt repayment, and general corporate purposes. The offering is subject to market conditions and is limited to qualified institutional buyers, ensuring compliance with the Securities Act.
Kite Realty Group Trust (NYSE: KRG) will present at the Citi 2021 Global Property CEO Conference on March 9, 2021, at 2:00 p.m. EST. The event will showcase management insights into the company's operations and performance. A live webcast will be available for interested investors, and a replay will be accessible on the company's website afterward. Kite Realty Group Trust is a real estate investment trust focused on community-oriented retail properties. Investors can find further details through the provided links.
Kite Realty Group Trust (NYSE: KRG) will release its financial results for Q1 2021 on April 29, 2021. A conference call is scheduled for April 30 at 11:00 a.m. ET for discussion of the results. The company is a vertically integrated real estate investment trust focusing on providing beneficial shopping experiences through its portfolio of neighborhood and lifestyle centers. COVID-19 poses a significant risk to the company's operations, potentially affecting tenant stability and overall financial performance.
Kite Realty Group Trust (NYSE: KRG) has announced an extensive redevelopment of Glendale Town Center in Indianapolis. The project will introduce over 50,000 square feet of retail space featuring stores like Ross Dress for Less and Old Navy, while also enhancing the surrounding community with new residential units. A partnership with Milhaus aims to bring 267 modern apartments, complete with amenities such as a fitness studio and pool. Expected to be completed in 2021, this initiative underscores KRG's commitment to maximizing asset value and improving visitor experiences.
Kite Realty Group Trust (NYSE: KRG) announced the successful sale of 15 ground leases, generating gross proceeds of $36.6 million. An additional two ground leases are expected to close in the coming months, yielding another $5.2 million, pending local government approvals. The proceeds will support the acquisition of Eastgate Crossing in Chapel Hill, NC. CEO John A. Kite expressed satisfaction with the company's ability to capitalize on undervalued assets, suggesting strong growth potential for future investments.
Kite Realty Group Trust (NYSE: KRG) announced a new $150 million "at-the-market" stock offering program authorized by its Board of Trustees. The program's details were filed on Form 8-K with the SEC. The REIT focuses on community and lifestyle centers, aiming to maximize value and returns for shareholders. The company acknowledges various risks, including those tied to the COVID-19 pandemic, economic conditions, and tenant financial stability, which may impact operations and future performance.
Kite Realty Group Trust (NYSE: KRG) announced a new $150 million share repurchase program effective through February 28, 2022. This decision aims to enhance capital markets flexibility amid current market volatility, ensuring a robust balance sheet as the company pursues long-term business objectives. Executive Vice President and CFO, Heath Fear, highlighted the importance of the buyback and simultaneous ATM program for maintaining financial strength.
Kite Realty Group Trust (NYSE: KRG) will hold its Annual Meeting of Shareholders on May 12, 2021, at 9:00 a.m. Eastern Time. Shareholders of record as of March 17, 2021, are eligible to vote. As a full-service REIT, Kite Realty focuses on connecting communities with retail experiences through its portfolio of shopping centers. The meeting will address shareholder interests and provide updates on the company’s operational performance and strategic initiatives.
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