Kite Realty Group Trust · NYSE:KRG
Kite Realty Group Trust — Investor Presentation (May 2011)
16 slides from Kite Realty Group Trust's investor presentation, May 20, 2011
Slide 1: Kite Realty Group Trust Investor Presentation
Kite Realty Group Trust Investor Presentation
Slide 2: Company Overview
§ Stable Portfolio § 64 Properties in 10 states § Total GLA of 9.6 million square feet § 52 Properties in the Retail Operating Portfolio; 92.3% leased § Diverse tenant base: Largest tenant represents only 3.2% of annualized base rent § 5 mile demographics: Population 127,000; Average HHI $86,000 § I
Slide 3: Growth Sources
GROWTH SOURCES § Rent commencement on executed leases § $5.5 million in annualized EBITDA anticipated to commence by the end of 2011 § Increase small shop occupancy § From current 78% to historical 85% § Execute on redevelopments § Rivers Edge in Indianapolis, IN is 95% leased and under construction
Slide 4: Improving FFO Quality
§ We have been continually improving the quality and predictability of our FFO stream. Recurring Real Estate Income as a Percent of FFO (1) 2011 projection is based on the Company’s previously released earnings guidance. IMPROVING FFO QUALITY (1)
Slide 5: Leasing Production
§ Leasing production is a constant company-wide focus § Leased 1.1 million square feet during 2010, the highest level of production in company history and a 64% increase over 2009 levels § 36 new and renewal anchor leases for 1.2 million square feet completed since Q1 2009 § Q1 2011 had aggregate po
Slide 6: Diverse Tenant Base
DIVERSE TENANT BASE (1) Annualized base rent represents the monthly contractual rent for March 2011 for each applicable tenant multiplied by 12. (2) S&P credit ratings for parent company as of 4/22/2011. (3) Rating is by Moody's; S&P does not rate Toys R Us § Largest single retail tenant comprises o
Slide 7: Diverse Tenant Base: Peer Group Assessment
Kroger Bed Bath Beyond Home Depot Publix TJ Maxx Wal-Mart/ Sam’s Kroger A&P Supervalu Publix Giant Foods DIVERSE TENANT BASE Peer Group Assessment: Top Tenant as a Percent of Annualized Base Rent Source: Company SEC filings. Information as of March 31, 2011
Slide 8: Strong Demographics
STRONG DEMOGRAPHICS Source: Applied Geographic Solutions. § High quality assets with an average age (including redevelopment) of less than 9 years § Approximately half of the current portfolio was developed by KRG § Portfolio benefits from 100% non-owned anchor occupancy Portfolio Demographics Summa
Slide 9: Strong Demographics
STRONG DEMOGRAPHICS Source: Applied Geographic Solutions. § We have a history of selecting strong markets for investment § Average household incomes in our Florida, Texas and Indiana portfolios are significantly higher than statewide levels
Slide 10: Well-Staggered Lease Expirations
WELL-STAGGERED LEASE EXPIRATIONS (1) Lease expirations of operating portfolio and excludes option periods and ground leases. Annualized base rent represents the monthly contractual rent for March 2011 for each applicable property multiplied by 12. § Average 8.2% of annualized base rent is expected t
Slide 11: In-Process Development Status
IN-PROCESS DEVELOPMENT STATUS § Cobblestone Plaza, Ft. Lauderdale, FL § 133,000 sf owned GLA § 84% pre-leased or committed § Whole Foods anchored § 94% of projected costs incurred § Construction of Whole Foods underway with tenant anticipated to take possession in the second half of 2011 Information
Slide 12: Rivers Edge Redevelopment
RIVERS EDGE REDEVELOPMENT BEFORE AFTER BEFORE § Vertical construction commenced in Q4 2010 at 95% pre-leased. § Anchor leases are executed with Nordstrom Rack, Buy Buy Baby, The Container Store, Arhaus Furniture, and BGI Fitness. § Secured construction financing with a 5-year term at LIBOR + 325 bps
Slide 13: Oleander Point Acquisition & Redevelopment
OLEANDER POINT ACQUISITION & REDEVELOPMENT § The Company acquired the neighborhood shopping center as a redevelopment opportunity in February 2011. § Whole Foods will anchor the shopping center and is anticipated to open in spring of 2012. § Center will also include 14,000 square feet of shops and a
Slide 14: Managing Leverage: Scheduled Debt Maturities
Scheduled Debt Maturities (1) MANAGING LEVERAGE (1) Dollars in thousands. Maturities exclude annual principal amortization. § Nearly all 2011 and 2012 maturities are held by relationship banks § Our strategy is to secure long term financing, however 60% of 2011 maturities have extension options § Re
Slide 15: Improving Debt/EBITDA
§ Goal 8.0x in 12 months and 7.0x over long-term § Foundation for accomplishing this goal § $5.5 million of annualized EBITDA from recently executed leases anticipated to commence by the end of 2011 § Successful completion of in-process development and redevelopment projects § Improving small shop l
Slide 16: 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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