Kite Realty Group Trust · NYSE:KRG
Kite Realty Group Trust — Investor Presentation (November 2011)
20 slides from Kite Realty Group Trust's investor presentation, Nov 15, 2011
Slide 1: Investors and Analyst Presentation, November 2011
Indianapolis, IN Investors and Analyst PRESENTED TO: 11.2011 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 • 63 Properties in 10 states • 53 Properties in the Retail Operating Portfolio; 93.1% leased • Diverse tenant base: Largest tenant represents only 3.2% of annualized base rent • 5 mile demographics: Population 126,000; Average HHI $85,000 • Increased Leasing & Operating
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 • Total portfolio is currently 93.1% leased.
Slide 7: Rent Spreads
2011* 2010 2009 New Leases 8.9% 9.8% 4.4% Renewals 2.6% <3.5%> <0.8%> Weighted Total 6.3% 5.1% 2.1% RENT SPREADS Rent Spreads * Through September 30, 2011 • 8 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 • 2009 - 673,000 • 2010 - 1,100,600 • 2011 - 666,300* Total Leasing Production - New and Renewal Leases By Quarter LEASING - ACTIVITY * Through September 30, 2011
Slide 9: Retail Relationships
RETAIL RELATIONSHIPS New 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 / Do
Slide 10: Diverse Tenant Base
DIVERSE TENANT BASE Quality Retail Tenants (1) Annualized base rent represents the monthly contractual rent for September 2011 for each applicable tenant multiplied by 12. (2) S&P credit ratings for parent company as of 10/24/2011.
Slide 11: Kite Realty Group
yl KITE REALTY GROUP TP 888.577.5600 @ kiterealty.com
Slide 12: Cobblestone Plaza
COBBLESTONE PLAZA Pembroke Pines, Florida In-Process Development • The Whole Foods building will be turned over during the 4 th quarter with an opening expected in Q1, 2012. • Construction on the Whole Foods building has increased awareness of the center. The project is 95.6% leased or committed as
Slide 13: Oleander Shopping Center
OLEANDER SHOPPING CENTER Wilmington, North Carolina In-Process Redevelopment • Oleander Shopping Center, Wilmington, NC, was acquired by Kite in February 2011. • A 30,000 square foot Whole Foods will replace the former Lowes Food Store. • Kite commenced construction of the new Whole Foods during the
Slide 14: Rivers Edge
RIVERS EDGE Indianapolis, Indiana In-Process Redevelopment • The Rivers Edge redevelopment is proceeding on schedule. New anchor tenants including Nordstrom Rack, The Container Store, and buybuy Baby have opened. • Phase II of the project is under way and will include a new 18,000 SF BGI building an
Slide 15: Delray Marketplace
DELRAY MARKETPLACE Delray Beach, Florida In-Process Development • Received a $62 million construction loan commitment with an anticipated November closing. • Official groundbreaking in the first week of December. • Including anchors Publix and Frank Theatres, we currently have 23 executed leases. Th
Slide 16: New Hill Place
NEW HILL PLACE Holly Springs, North Carolina Future Development • Four national junior anchor leases are executed. • Phase I of New Hill Place is scheduled to commence construction in spring. • Construction loan to be finalized prior to construction commencement.
Slide 17: Kite Realty Group
Ph KITE REALTY GROUP TP 888.577.5600 @p kiterealty.com
Slide 18: 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 Debt Tran
Slide 19: Schedule of Debt Maturities
SCHEDULE OF DEBT MATURITIES Extend duration of maturities while continuing to stagger debt maturities to mitigate risk. (1) Line of credit maturity assumes we exercise the one year extension option. (2) Subsequent to the quarter end, we exercised the one-year extension option. (2) (1)
Slide 20: 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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