Kite Realty Group Trust · NYSE:KRG
Kite Realty Group Trust — Investor Presentation (March 2012)
21 slides from Kite Realty Group Trust's investor presentation, Mar 12, 2012
Slide 1: Presented to Investors and Analysts, March 2012
Indianapolis, IN Investors and Analysts PRESENTED TO: 3.2012 KITE HEADQUARTERS
Slide 2: Disclaimer
DISCLAIMER This presentation contains certain statements that are not historical fact and may constitute forward- looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other fa
Slide 3: Company Overview
• Stable Operating Portfolio • 54 Properties in the Retail Operating Portfolio; 93.3% leased • Diverse tenant base: Largest tenant represents only 2.9% of annualized base rent • 5 mile demographics: Population - 126,000; Average Household Income - $85,000 • Increased Leasing & Operating Productivity
Slide 4: Kite Realty Group
Ph KITE REALTY GROUP TP 888.577.5600 @p kiterealty.com
Slide 5: Portfolio Same Store NOI Trends
PORTFOLIO SAME STORE NOI TRENDS
Slide 6: Leased Percentages: Retail Operating Portfolio
LEASED PERCENTAGES: RETAIL OPERATING PORTFOLIO
Slide 7: Rent Spreads
2011 2010 2009 New Leases 8.6% 9.8% 4.4% Renewals 2.9% <3.5%> <0.8%> Weighted Total 6.4% 5.1% 2.1% RENT SPREADS Cash Rent Spreads • Nine consecutive quarters of positive aggregate rent spreads
Slide 8: Leasing Activity
• Company-wide focus on leasing the portfolio to high-credit tenants. • Total annual production (square feet): • 2009 - 673,000 • 2010 - 1,100,600 • 2011 - 842,200 Total Leasing Production - New and Renewal Leases By Quarter (square feet) LEASING - ACTIVITY
Slide 9: Retail Relationships
RETAIL RELATIONSHIPS Recent Retail Relationships • National Retailers: Nordstrom Rack / The Container Store / Arhaus Furniture / Whole Foods / Fresh Market / Advanced Auto / Babies “R” Us and Toys “R” Us / Ulta / Urban Outfitters / Vitamin Shoppe / buybuy Baby / Apricot Lane / Bobby Chan / Chico’s /
Slide 10: Diverse Tenant Base
DIVERSE TENANT BASE Quality Retail Tenants (1) Annualized base rent represents the monthly contractual rent for December 2011 for each applicable tenant multiplied by 12. Excludes tenant reimbursements. (2) S&P credit ratings for parent company as of 1/20/2012. Information as of December 31, 2011
Slide 11: Development/Redevelopment
DEVELOPMENT/REDEVELOPMENT
Slide 12: Delray Marketplace
DELRAY MARKETPLACE Delray Beach, Florida In-Process Development • Including anchors Publix and Frank Theatres, we currently have 24 executed leases. The center is approximately 72% pre-leased or committed. • Commenced construction in the 4 th quarter of 2011. • Closed on a $62 million construction l
Slide 13: New Hill Place
NEW HILL PLACE Holly Springs, North Carolina In-Process Development • Closed on the sale of land to, and entered into a site development agreement with, Target in February 2012. • The $57 million development is approximately 73% pre-leased or committed including Dick’s Sporting Goods, Marshall’s, Mi
Slide 14: Four Corner/Maple Valley
FOUR CORNER/MAPLE VALLEY Maple Valley, Washington In-Process Development/Redevelopment • Commenced construction at the end of February 2012. • Three anchor leases for 80,000 square feet are fully executed with Grocery Outlet, Johnson’s Home & Garden, and Walgreens. • Construction loan to be finalize
Slide 15: Oleander Point
OLEANDER POINT Wilmington, North Carolina In-Process Redevelopment • KRG turned over the space to a newly constructed Whole Foods during the 4 th quarter with an opening scheduled for May 2012. • The project is 86% pre-leased or committed as of December 31, 2011. Before After After
Slide 16: High Quality Recently Completed Real Estate
HIGH QUALITY RECENTLY COMPLETED REAL ESTATE Rivers Edge • Successfully redeveloped and was 100% leased as of December 31, 2011. • Anchored by Nordstrom Rack, The Container Store, buybuy Baby, Arhaus Furniture, and BGI Fitness. Eddy Street Commons • Successfully developed and was 96.8% leased as of D
Slide 17: High Quality Recently Completed Real Estate
HIGH QUALITY RECENTLY COMPLETED REAL ESTATE Cobblestone Plaza • Successfully developed and was 92.2% leased as of December 31, 2011. • Anchored by Whole Foods, Party City, and All Pets Emporium. South Elgin Commons • Successfully developed and was 100% leased as of December 31, 2011. • Anchored by L
Slide 18: Kite Realty Group
Ph KITE REALTY GROUP TP 888.577.5600 @p kiterealty.com
Slide 19: Debt and Capital Markets Update
DEBT AND CAPITAL MARKETS UPDATE Primary Debt Capital Market Initiatives • Manage fixed to floating ratio to a goal of 80%/20% (w/construction loan debt). • Capitalize on low long-term interest rate environment. • De-levering in process through NOI growth and non-core asset sales. Significant 2012 Pl
Slide 20: Schedule of Debt Maturities
SCHEDULE OF DEBT MATURITIES Extend duration of maturities while continuing to stagger debt maturities to mitigate risk. Information as of December 31, 2011 (1) Chart excludes annual principal payments and net premiums on fixed rate debt. (2) Assumes the Company exercises the one year extension optio
Slide 21: NOI Growth Potential Through Incremental Cash NOI
NOI GROWTH POTENTIAL THROUGH INCREMENTAL CASH NOI • NOI growth potential through continued cash rent commencement from executed leases at operating properties and in-process development and redevelopment properties. • Continue to improve our debt-to-EBITDA level as tenants who have executed leases t
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