Kite Realty Group Trust · NYSE:KRG
Kite Realty Group Trust — Investor Presentation (August 2010)
14 slides from Kite Realty Group Trust's investor presentation, Aug 25, 2010
Slide 1: Kite Realty Group Trust Investor Presentation
Kite Realty Group Trust Investor Presentation Information as of June 30, 2010
Slide 2: Company Overview
COMPANY OVERVIEW Information as of June 30, 2010 § 55 Operating Properties in 9 states § Retail Operating Portfolio 91% leased - 100 basis point increase from Q1 § Stable Operating Portfolio § Diverse tenant base: Largest tenant represents only 3.3% of annualized base rent § 5 mile demographics: Pop
Slide 3: Growth Sources
GROWTH SOURCES § Rent commencement on executed Jr anchor leases § $3.5 million in annualized rent anticipated to commence over the next 12-18 months § Jr anchor leases in negotiation § Increase small shop occupancy § From current 76% to historical 80-85% § Execute on redevelopments § Leasing nearly
Slide 4: Improving FFO Quality
IMPROVING FFO QUALITY § We have been successful in improving the quality and predictability of our FFO stream. Real Estate Rental Operations as a Percent of FFO (1) (1) 2010 projection is based on the Company’s previously released earnings guidance. 4
Slide 5: Leasing Production
LEASING PRODUCTION § Improved leasing production has become a company-wide focus § We are on pace to achieve approximately 1 million square feet of production for 2010, the highest level in company history § 21 new and renewal anchor leases for 770,000 square feet completed over the last 5 quarters
Slide 6: Diverse Tenant Base
DIVERSE TENANT BASE Information as of June 30, 2010 (unless otherwise noted) § Largest single retail tenant comprises only 3.3% of total annualized base rent § Top 10 retail tenants account for only 22.7% of total annualized base rent (1) Annualized base rent represents the monthly contractual rent
Slide 7: Diverse Tenant Base: Peer Group Assessment
DIVERSE TENANT BASE Information as of June 30, 2010 Peer Group Assessment: Top Tenant as a Percent of Annualized Base Rent Bed Home Wal- Giant Kroger Publix TJ Kroger A&P Supervalu Publix Bath Depot Mart/ Foods Maxx Beyond Sam’s Source: Company SEC filings. 7
Slide 8: Strong Demographics
STRONG DEMOGRAPHICS § High quality assets with an average age of only eight years § Approximately half of the current portfolio was developed by KRG § Portfolio benefits from 100% non-owned anchor occupancy § Strong household incomes surrounding operating portfolio and development pipelines Portfoli
Slide 9: Strong Demographics
STRONG DEMOGRAPHICS § We have a history of selecting strong submarkets for investment § Our Florida, Texas and Indiana portfolio incomes are significantly higher than statewide levels Source: Applied Geographic Solutions. 9
Slide 10: Well-Staggered Lease Expirations
WELL-STAGGERED LEASE EXPIRATIONS Information as of June 30, 2010 § Average 8.6% of total annualized rent is expected to roll each year from 2011 through 2019 § Higher 2012-2015 rollover defers renewal negotiations to a potentially stronger leasing environment Percentage of Lease Expiration by Total
Slide 11: Development Status
DEVELOPMENT STATUS Information as of June 30, 2010 In-Process Developments § Eddy Street Commons at Notre Dame § 85% pre-leased or committed § 97% of projected costs incurred § Cobblestone Plaza, Ft. Lauderdale, FL § 77% pre-leased or committed with Whole Foods executed lease § 90% of projected cost
Slide 12: Managing Leverage
MANAGING LEVERAGE Scheduled Debt Maturities (1)(2)(3) § Extended or refinanced all 2010 debt maturities by February 2010 § 2011 maturities are in process: § Only 2 CMBS loans totaling $20 million § 5 of 7 property loans held on balance sheet were underwritten with more stringent 2008-09 standards §
Slide 13: Peer Group Analysis
PEER GROUP ANALYSIS Debt Plus Preferred as a Percent of Gross Assets(1)(2) 2010 Estimated AFFO Payout Ratio (2)(3) (1) Source: Company filings. Calculation: (Consolidated Debt + Preferreds) / Gross Real Estate Assets (2) Peer Group: AKR, CDR, DDR, EQY, FRT, IRC, KIM, REG, RPT, WRI (3) Source: SNL Fi
Slide 14: 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
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