Kite Realty Group Trust · NYSE:KRG
Kite Realty Group Trust — NAREIT REITweek 2012
20 slides from Kite Realty Group Trust's conference presentation, Jun 11, 2012
Slide 1: NAREIT REITweek 2012 Meetings with Investors & Analysts
Indianapolis, IN Meetings with Investors & Analysts New York, NY NAREIT REITWeek 2012 June 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 • Owned interests in 63 operating properties totaling approximately 9.5 million square feet of gross leasable area (GLA) • Diverse tenant base: Largest tenant (Publix) represents only 3.0% of annualized base rent • 5 mile demographics: Population - 126,000; Average Househo
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: Cash Rent Spreads
Q1 2012 FY 2011 FY 2010 New Leases 13.5% 8.6% 9.8% Renewals 0.4% 2.9% <3.5%> Weighted Total 7.2% 6.4% 5.1% CASH RENT SPREADS • Ten consecutive quarters of positive aggregate cash rent spreads
Slide 8: Quality Retail Tenant Base
QUALITY RETAIL TENANT BASE (1) Annualized base rent represents the monthly contractual rent for March 2012 for each applicable tenant multiplied by 12. Excludes tenant reimbursements. (2) S&P credit ratings for parent company as of 4/20/2012. Information as of March 31, 2012
Slide 9: Development/Redevelopment
DEVELOPMENT/REDEVELOPMENT
Slide 10: Delray Marketplace
DELRAY MARKETPLACE Delray Beach, Florida Development Update • Including anchors Publix and Frank Theatres, we currently have 26 executed leases. The center is approximately 73% pre-leased or committed. • Vertical construction is underway and tenant deliveries will begin in July. • The $93 million pr
Slide 11: New Hill Place
= NEW HILL PLACE KITE Holly Springs, North Carolina REALTY GROUP Development Update (cont.) * Closed on the sale of land to, and entered into a site development agreement with, Target in February 2012. * Site construction of Phase | of New Hill Place is underway with opening scheduled for spring 201
Slide 12: Four Corner/Maple Valley
FOUR CORNER/MAPLE VALLEY Maple Valley, Washington Development Update (cont.) • Commenced construction in Q1, 2012. • Three anchor leases for 80,000 total square feet are fully executed with Grocery Outlet, Johnson’s Home & Garden, and Walgreens. • Received a loan commitment from US Bank for $22.8 mi
Slide 13: Oleander Place
OLEANDER PLACE Wilmington, North Carolina Development Update (cont.) • The February 2011 acquisition of the Lowe’s Foods anchored center was redeveloped as a Whole Foods in just 15 months. • The Whole Foods opened on May 28, 2012; significantly increasing the overall value of the asset. • The projec
Slide 14: High Quality Recently Completed Real Estate
HIGH QUALITY RECENTLY COMPLETED REAL ESTATE Rivers Edge • Successfully redeveloped and was 100% leased as of March 31, 2012. • Anchored by Nordstrom Rack, The Container Store, buybuy Baby, Arhaus Furniture, and BGI Fitness. Eddy Street Commons • Successfully developed and was 95.4% leased as of Marc
Slide 15: High Quality Recently Completed Real Estate
HIGH QUALITY RECENTLY COMPLETED REAL ESTATE Cobblestone Plaza • Successfully developed and was 92.2% leased as of March 31, 2012. • Anchored by Whole Foods, Party City, and All Pets Emporium. South Elgin Commons • Successfully developed and was 100% leased as of March 31, 2012. • Anchored by LA Fitn
Slide 16: Kite Realty Group
Ph KITE REALTY GROUP TP 888.577.5600 @p kiterealty.com
Slide 17: Balance Sheet Progress
BALANCE SHEET PROGRESS • Annual debt maturities of less than $50 million through 2015. • Unencumbered asset pool increased to over 40% of total assets and continues to expand.
Slide 18: Debt and Capital Markets Update
DEBT AND CAPITAL MARKETS UPDATE Primary Balance Sheet Initiatives • Manage floating rate debt to a target of 20% of total debt. • De-levering in process through NOI growth, non-core asset sales, and select acquisitions. Significant 2012 Debt Transactions • Closed on $125 million unsecured seven-year
Slide 19: Schedule of Debt Maturities
SCHEDULE OF DEBT MATURITIES Substantially completed goal of extending and staggering our near-term debt maturities Information as of March 31, 2012 (1) (1) As adjusted for April placement of term loan and amendment of unsecured line of credit. (2) Chart excludes annual principal payments and net pre
Slide 20: Cash NOI Growth
CASH NOI GROWTH • Projected cash NOI growth from executed leases at recently completed developments and a redevelopment. Information as of March 31, 2012 • Additional cash NOI growth from Delray Marketplace, New Hill - Phase I, and Four Corner (which have recently commenced construction) will occur