Kite realty livingston commons9/15/2023 Risks, uncertainties and other factors that might cause such differences, some of which could be material, include, but are not limited to: national and local economic, business, real estate and other market conditions, particularly in light of low growth in the U.S. 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. As of March 31, 2018, the Company owned interests in 115 operating and redevelopment properties totaling approximately 22.5 million square feet and 2 development projects currently under construction totaling 0.7 million square feet.įor more information, please visit our website at .Ĭertain statements in this document that are not historical fact may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Using operational, development, and redevelopment expertise, we continuously optimize our portfolio to maximize value and return to our shareholders. We connect consumers to tenants in desirable markets through our portfolio of open-air shopping centers. Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust (REIT) that provides communities with convenient and beneficial shopping experiences. Managing a suite of funds and mandates spanning both debt and equity across diverse geographies, sectors, investment styles and vehicle types, TH Real Estate provides access to every aspect of real estate investing. TH Real Estate, an affiliate of Nuveen (the investment management arm of TIAA), is one of the largest real estate investment managers in the world with $114 billion in assets under management. The two teams have collaborated on this venture and we hope to grow our relationship over time,” said Mike Fisk, Managing Director of Retail Investments at TH Real Estate. “We are very excited to partner with Kite Realty Group, whom we consider a best in class operator of open-air retail centers. Tamiami Crossing: 122,000 SF in Naples, Florida – tenants include Ross Stores, Stein Mart, Marshalls, Michaels, PetSmart, Aldi, and Ulta Beauty.Plaza Volente: 156,000 SF in Austin, Texas – tenants include H-E-B Grocery, Starbucks, Great Clips, and Jersey Mike’s and.Livingston Shopping Center: 140,000 SF in Livingston, New Jersey – tenants include TJ Maxx, Nordstrom Rack, DSW, buybuy Baby, Cost Plus World Market, and Ulta Beauty.The initial properties in the venture have a combined 418,000 square feet (“SF”) of gross leasable area and consist of the following: “Our two teams work very well together, and we hope to find additional opportunities to acquire desirable properties to expand our relationship.” “We are excited to be working with TH Real Estate in this endeavor,” said John Kite, KRG’s Chief Executive Officer. The joint venture obtained a 10-year $51.9 million fixed-rate loan on the properties at an interest rate of 4.09%. KRG used the net proceeds received from the transaction to pay down its revolving line of credit. KRG will serve as the operating member responsible for day-to-day management of the properties and will receive property management and leasing fees. KRG contributed three properties valued at $99.8 million to the joint venture in exchange for a 20% ownership interest and $89.0 million in net proceeds. INDIANAPOLIS, J(GLOBE NEWSWIRE) - Kite Realty Group Trust (NYSE:KRG) (“KRG”) announced today that it has formed a joint venture to acquire high-quality retail properties with a fund managed by TH Real Estate, a Nuveen company.
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