![]() ![]() Future events and actual results, performance, transactions or achievements, financial or otherwise, may differ materially from the results, performance, transactions or achievements, financial or otherwise, expressed or implied by the forward-looking statements. Such statements are based on assumptions and expectations that may not be realized and are inherently subject to risks, uncertainties and other factors, many of which cannot be predicted with accuracy and some of which might not even be anticipated. This release, together with other statements and information publicly disseminated by us, contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934. For more information, please visit .Ĭonnect with KRG: LinkedIn | Twitter | Instagram | Facebook open-air shopping centers and mixed-use assets, comprising approximately 28.8 million square feet of gross leasable space. ![]() As of December 31, 2022, the Company owned interests in 183 U.S. Using operational, investment, development, and redevelopment expertise, KRG continuously optimizes its portfolio to maximize value and return to shareholders. Publicly listed since 2004, KRG has nearly 60 years of experience in developing, constructing and operating real estate. The combination of necessity-based grocery-anchored neighborhood and community centers, along with vibrant mixed-use assets makes the KRG portfolio an ideal mix for both retailers and consumers. The Company's primarily grocery-anchored portfolio is located in high-growth Sun Belt and select strategic gateway markets. Kite Realty Group Trust (NYSE: KRG) is a real estate investment trust (REIT) headquartered in Indianapolis, IN that is one of the largest publicly traded owners and operators of open-air shopping centers and mixed-use assets. A replay of the call will remain available on the corporate website. “As we look to coming out of COVID and the opportunities for both companies, the conversations increased and obviously led us to this point,” Grimes said.Dial-In Registration: KRG First Quarter 2023 Teleconference RegistrationĪ live webcast of the conference call will also be available at. Both Midwest companies have been repositioning their portfolios and cleaning up their balance sheets in recent years. Though the deal came together relatively quickly, RPAI Chief Executive Steven Grimes said he and John Kite, who have known each other for years, started talking about a merger a year ago. That created the nation’s largest open-air retail REIT with 559 shopping centers. The Kite-RPAI deal is also the second major open-air shopping center acquisition this year, following Kimco Realty’s $3.9 billion pact to acquire Weingarten Realty in April. Its top tenants include TJX Cos., parent of Home Goods, TJ Maxx and Marshalls Best Buy Ross Stores and PetSmart. “The free cash flow alone will enable us to have a significant amount of firepower that we can reinvest with the cash in the development pipeline and with future acquisitions.”Ībout 70 percent of the centers have grocery store components, including Albertsons, Ahold Delhaize, Kroger and Publix. “This is a real estate deal above all,” Kite said.
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