Kite Realty Group Trust · NYSE:KRG
Kite Realty Group Trust — Investor Presentation (November 2012)
22 slides from Kite Realty Group Trust's investor presentation, Nov 13, 2012
Slide 1: Kite Realty Group Headquarters, Indianapolis, IN
KITE HEADQUARTERS Indianapolis, IN
Slide 2: Disclaimer
KITE REALTY GROUP * 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, uncerta
Slide 3: Company Overview: Stable Operating Portfolio
* COMPANY OVERVIEW Stable Operating Portfolio Owned interests in 60 operating properties totaling approximately 8.9 million square feet of gross leasable area (GLA). Diverse tenant base: Largest tenant (Publix Supermarket) represents only 3.9% of annualized base rent. 5 mile demographics: Population
Slide 4: Company Overview: Acquisition and Disposition Activity
* COMPANY OVERVIEW Acquisition and Disposition Activity Cove Center: Acquired the Publix-anchored unencumbered shopping center in Stuart, Florida in June 2012 for $22 million. 12th Street Plaza: Acquired the Publix-anchored shopping center in Vero Beach, Florida in August 2012 for $15 million. Coral
Slide 5: Operating Metrics
KITE REALTY GROUP OPERATING METRICS TB 888.577.5600 @p kiterealty.com
Slide 6: Leased Percentages: Retail Operating Portfolio
* LEASED PERCENTAGES: RETAIL OPERATING PORTFOLIO KITE REALTY GROUP
Slide 7: Cash Rent Spreads
CASH RENT SPREADS KITE REALTY GROUP * Q3 2012 Q2 2012 Q1 2012 FY 2011 FY 2010 New Leases 11.6% 22.7% 13.5% 8.6% 9.8% Renewals <1.9%> 4.9% 0.4% 2.9% <3.5%> Weighted Total 4.1% 14.6% 7.2% 6.4% 5.1% Twelve consecutive quarters of positive aggregate cash rent spreads
Slide 8: Quality Retail Tenant Base
QUALITY RETAIL TENANT BASE KITE REALTY GROUP * Annualized base rent represents the monthly contractual rent for September 2012 for each applicable tenant multiplied by 12. Excludes tenant reimbursements. S&P credit ratings for parent company as of 11/9/2012. Information as of September 30, 2012 Perc
Slide 9: Development/Redevelopment/Acquisitions
DEVELOPMENT/REDEVELOPMENT/ACQUISITIONS
Slide 10: Delray Marketplace Development Update
KITE REALTY GROUP * DELRAY MARKETPLACE Delray Beach, Florida Development Update Including anchors Publix and Frank Theatres, we currently have 32 executed leases. The center is approximately 77% pre-leased or committed. Tenants will begin opening at the $94 million project in December 2012.
Slide 11: Holly Springs Towne Center Development Update
KITE REALTY GROUP * HOLLY SPRINGS TOWNE CENTER Holly Springs, North Carolina Development Update The shell of the Target building is close to completion. Vertical construction on 205,000 SF of buildings is underway and delivery dates will occur in early 2013. The $57 million development of Phase I is
Slide 12: Four Corner Square Redevelopment Update
KITE REALTY GROUP * FOUR CORNER SQUARE Maple Valley, Washington Redevelopment Update Three anchor leases for 80,000 total square feet are fully executed with Grocery Outlet, Johnson’s Home & Garden, and Walgreens. The center is approximately 85% leased or committed as of September 30, 2012. Closed o
Slide 13: Rangeline Crossing Redevelopment Update
KITE REALTY GROUP * RANGELINE CROSSING Carmel, Indiana Redevelopment Update Redevelopment of the building for organic grocer Earth Fare began in September 2012. Leasing momentum is strong with multiple tenant negotiations under way. The project is over 90% leased or committed. The initial phase of t
Slide 14: Recently Acquired Real Estate
KITE REALTY GROUP * RECENTLY ACQUIRED REAL ESTATE Cove Center – Stuart, Florida Acquired in June for $22 million and was 94.9% leased as of September 30, 2012. Anchored by Publix Supermarket and Beall’s Department Store. Potential for redevelopment. 12th Street Plaza – Vero Beach, Florida Acquired i
Slide 15: High Quality Recently Completed Real Estate
KITE REALTY GROUP * HIGH QUALITY RECENTLY COMPLETED REAL ESTATE Rivers Edge Successfully redeveloped and was 100% leased as of September 30, 2012. Anchored by Nordstrom Rack, The Container Store, buybuy Baby, Arhaus Furniture, and BGI Fitness. Eddy Street Commons (University of Notre Dame) Successfu
Slide 16: High Quality Recently Completed Real Estate
KITE REALTY GROUP * HIGH QUALITY RECENTLY COMPLETED REAL ESTATE Cobblestone Plaza Successfully developed and was 97% leased as of September 30, 2012. Anchored by Whole Foods. Oleander Place Whole Foods opened at the end of May 2012. Successfully redeveloped and was 100% leased or committed as of Sep
Slide 17: High Quality Recently Completed Real Estate
KITE REALTY GROUP * HIGH QUALITY RECENTLY COMPLETED REAL ESTATE DePauw University Bookstore & Cafe Successfully developed and moved to the operating portfolio in the third quarter. 100% leased to Follett Bookstore and Starbucks Coffee. Zionsville Walgreens Successfully developed and moved to the ope
Slide 18: Balance Sheet
KITE REALTY GROUP BP 888.577.5600 > kiterealty.com
Slide 19: Balance Sheet Progress
KITE REALTY GROUP * BALANCE SHEET PROGRESS In October 2012, issued 12,075,000 common shares for $5.20 per share resulting in net proceeds of approximately $60 million. Weighted-average debt maturities 4.9 years as of September 30, 2012. Less than 25% of debt maturities through December 31, 2015. Une
Slide 20: Debt and Capital Markets Update
KITE REALTY GROUP * 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 Capital Markets Transactions In October 2012, i
Slide 21: Schedule of Debt Maturities
KITE REALTY GROUP * SCHEDULE OF DEBT MATURITIES(1) Substantially completed goal of extending and staggering our near-term debt maturities Information as of September 30, 2012
Slide 22: Sources of Cash NOI Growth
KITE REALTY GROUP * SOURCES OF CASH NOI GROWTH Stabilization of recently completed developments and redevelopments at Cobblestone Plaza, Rivers Edge, and Oleander Place. Completion of Delray Marketplace, Holly Springs Towne Center – Phase I, Four Corner Square, and Rangeline Crossing (which have rec
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