Kite Realty Group Trust · NYSE:KRG

Kite Realty Group Trust — 2009 Citi Global Property CEO Conference

19 slides from Kite Realty Group Trust's conference presentation, Mar 2, 2009

  1. Slide 1: 2009 Citi Global Property CEO Conference Presentation

    2009 Citi Global Property CEO Conference Presentation March 2-4,Title 2009

  2. Slide 2: Disclaimer

    DISCLAIMER This presentation may include certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, our plans, objectives, expectations and intentions and other statements containe

  3. Slide 3: Company Overview: Primary Objectives for the Company

    COMPANY OVERVIEW PRIMARY OBJECTIVES FOR THE COMPANY ƒ Balance Sheet Management – Continue to Manage Debt Maturities – Execute Capital Plan ƒ Measured Development Spending – Complete Current Development Pipeline – 3 projects • $91 million total cost with approximately $48 million spent or incurred •

  4. Slide 4: Company Overview: Consumer Behavior

    COMPANY OVERVIEW Information as of December 31, 2008 ƒ Consumer Behavior Nationwide consumption levels have dropped, but a portion of the consumer’s behavior is derived from necessity. Grocery-anchored centers and value-oriented retailers such as Target and Wal-Mart will continue to create shopping

  5. Slide 5: Company Overview: Geographic Diversification

    COMPANY OVERVIEW Information as of December 31, 2008 GEOGRAPHIC DIVERSIFICATION Projected Total GLA Including Pipelines 1,2 Southeast, 34% South, 15% Other, 7% Midwest, 44% (1) Total GLA includes owned GLA, square footage attributable to non-owned outlot structures on land that the Company owns and

  6. Slide 6: Company Overview: Strong Tenant Diversity

    COMPANY OVERVIEW Information as of December 31, 2008 except as noted STRONG TENANT DIVERSITY Top 10 Retail Tenants by Base Rent % of Portfolio S&P 1 Annualized Base Rent Credit Rating 1 Lowe's Home Improvement 3.6% A+ 2 Publix 3.3% n/a 3 PetSmart 2.8% BB 4 Marsh Supermarkets 2.3% n/a 5 Bed Bath & Be

  7. Slide 7: Management Strategy: Emphasizing Internal Growth

    MANAGEMENT STRATEGY Information as of December 31, 2008 EMPHASIZING INTERNAL GROWTH Existing Vacancy ƒ Operating retail portfolio is 91.2% leased ƒ Less than 5% lease rollover in 2009 Operational Efficiencies ƒ Leveraging bargaining power with national providers ƒ Maintain class-A properties while m

  8. Slide 8: Management Strategy: How We View Development

    MANAGEMENT STRATEGY Information as of December 31, 2008 HOW WE VIEW DEVELOPMENT CURRENT DEVELOPMENT PIPELINE ƒ 3 projects totaling $91M of total estimated cost ƒ 53% funded ƒ Growth source for late 2009 and throughout 2010 ƒ Low current occupancy but 73% leased or committed VISIBLE SHADOW PIPELINE ƒ

  9. Slide 9: Capital Plan

    CAPITAL PLAN Information as of December 31, 2008 SUCCESSFUL Q4 2008 TRANSACTION EXECUTION ENHANCES CAPITAL AVAILABILITY ƒ Approximately $90 million of availability/liquidity at December 31, 2008 ƒ Extended or refinanced $131M of 2008 and 2009 debt maturities ƒ Closed $29M construction loan on Eddy S

  10. Slide 10: Managing Debt Maturities

    MANAGING DEBT MATURITIES Information as of December 31, 2008 AGGRESSIVE REFINANCING, SOLID EXECUTION As of % of As of % of 9/30/08 Total 12/31/08 Total 2008 $18,740 3% $0 0% 1 2009 $214,508 28% $110,641 16% 2010 $13,470 2% $66,132 9% 2 2011 $229,901 30% $248,444 35% 2012 $39,014 5% $38,905 6% Therea

  11. Slide 11: Development & Redevelopment Pipeline

    DEVELOPMENT & REDEVELOPMENT PIPELINE Information as of December 31, 2008 Projected % Leased / Total Est. Cost Project MSA Total GLA 1 Committed 3 (000s) Anchor Tenants Whole Foods Market, Staples, Cobblestone Plaza 2 Ft. Lauderdale, FL 163,600 80.3% $47,000 Party City South Elgin Commons I Chicago,

  12. Slide 12: Visible Shadow Pipeline

    VISIBLE SHADOW PIPELINE Information as of December 31, 2008 KRG % Est. Total Est. Total Project Owned MSA GLA 1 Cost (000s)1 Potential Tenancy Unconsolidated: Frank Theatres, Discount Dept. Parkside Town Commons 2 40% Raleigh, NC 1,500,000 $148,000 Stores, Jr. Boxes, Restaurants KRG Current Share $5

  13. Slide 13: Development Pipeline: A Case Study in Risk Mitigation: Eddy Street Commons

    DEVELOPMENT PIPELINE A CASE STUDY IN RISK MITIGATION: EDDY STREET COMMONS 2009 Citi Global Property CEO Conference 13

  14. Slide 14: Development Pipeline: Eddy Street Commons

    DEVELOPMENT PIPELINE Information as of December 31, 2008 A CASE STUDY IN RISK MITIGATION: EDDY STREET COMMONS ƒ $200 million mixed-use development next to the University of Notre Dame in South Bend, IN will be completed in phases ƒ $35 million Phase I, which will include retail and office, is in the

  15. Slide 15: Eddy Street Commons Phase I

    DEVELOPMENT PIPELINE A CASE STUDY IN RISK MITIGATION: EDDY STREET COMMONS Phase I – Retail, Office, Multi-family, Parking Garage 2009 Citi Global Property CEO Conference 15

  16. Slide 16: Strong Demographics

    STRONG DEMOGRAPHICS OUR MARKETS ARE NOT DEPENDENT ON POPULATION GROWTH Portfolio Demographic Comparison Operating Portfolio vs. Development Pipeline Radius Radius Operating Portfolio 3 Mile 5 Mile Development Pipeline 3 Mile 5 Mile 2007 Est. Population 49,691 124,977 2007 Est. Population 44,549 118,

  17. Slide 17: Committed Management

    COMMITTED MANAGEMENT ƒ Senior management owns approximately 20 percent of the Company and has acquired over 400,000 shares and 800,000 units since the IPO at a cost of approximately $21M Tenure with Company Ownership 1 Al Kite Chairman Emeritus 48 years 9.5% John Kite Chairman & CEO 18 years 6.3% To

  18. Slide 18: Operating Metrics

    OPERATING METRICS For the Twelve Months Ended December 31, 2008 Selected Peer Group KRG Average 1 NOI / Revenue 70.6% 68.9% G&A / Revenue from Rental 5.7% 10.8% Properties Fixed Charge Coverage 2 2.5x 2.7x FFO Payout % 70.3% 70.4% Portfolio % Leased 91.7% 93.4% (1) Peer Group consists of KIM, DDR, A

  19. Slide 19: Corporate Profile

    CORPORATE PROFILE Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust engaged primarily in the ownership, operation, management, leasing, acquisition, construction, expansion, and development of high quality neighborhood and community shopping centers in sel

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