Kite Realty Group Trust · NYSE:KRG
Kite Realty Group Trust — Investor Presentation (May 2013)
41 slides from Kite Realty Group Trust's investor presentation, May 20, 2013
Slide 1: Rivers Edge, Indianapolis, IN
RIVERS EDGE Indianapolis, IN
Slide 2: Kite Realty Group
rl KITE REALTY GROUP
Slide 3: Kite Realty Group Trust
KITE REALTY GROUP * KITE REALTY GROUP TRUST TICKER SYMBOL :: KRG (NYSE since 2004) FOUNDED :: 1971 HEADQUARTERS :: Indianapolis, Indiana PORTFOLIO :: 55 OPERATING RETAIL 2 OPERATING COMMERCIAL 4 REDEVELOPMENT 3 IN-PROCESS DEVELOPMENT 64 PROPERTIES SQUARE FOOTAGE :: (MILLIONS) 8.5 OPERATING RETAIL 0.
Slide 4: Retail Real Estate Market: Retail Landscape
RETAIL LANDSCAPE Landlords with premium space are regaining leasing leverage. Capital recycling to enhance portfolio will continue. Limited new supply entering market. Retail store openings continue to increase. Heightened competition in grocery sector with the rise of the specialty grocers. KITE RE
Slide 5: 2013 Kite Strategy
KITE REALTY GROUP * 2013 KITE STRATEGY STRATEGIC OBJECTIVES Stabilize Delray Marketplace, Holly Springs Towne Center, Four Corner Square, and Rangeline Crossing. Continue to focus on leasing up our Operating Portfolio. Target 94%-95.5% occupancy. Grow Same-Store NOI by 3% - 4%. Focus on redevelopmen
Slide 6: Company Highlights
KITE REALTY GROUP * COMPANY HIGHLIGHTS
Slide 7: Company Highlights
KITE REALTY GROUP * COMPANY HIGHLIGHTS FPO
Slide 8: Portfolio Dynamics
PORTFOLIO DYNAMICS
Slide 9: Geographic Diversification Operating Portfolio
KITE REALTY GROUP * GEOGRAPHIC DIVERSIFICATION OPERATING PORTFOLIO As of 3/31/13 (1) Primary markets in blue.
Slide 10: Meet Our Customers: Demographic Profile
KITE REALTY GROUP * MEET OUR CUSTOMERS DEMOGRAPHIC PROFILE
Slide 11: Quality Retail Tenant Base
KITE REALTY GROUP * QUALITY RETAIL TENANT BASE (1) Annualized base rent represents the monthly contractual rent for March 2013 for each applicable tenant multiplied by 12. Excludes tenant reimbursements. (2) S&P credit ratings for parent company as of 5/7/2013.
Slide 12: Tenant Diversity: Necessity Driven Tenant Mix
KITE REALTY GROUP * TENANT DIVERSITY NECESSITY DRIVEN TENANT MIX
Slide 13: Development/Redevelopment Summary
KITE REALTY GROUP * DEVELOPMENT/REDEVELOPMENT SUMMARY PROPERTY PROPERTY PROPERTY PROPERTY STATE MAJOR TENANTS/CO-ANCHORS PROJECTED COST COST TO DATE % LEASED / COMMITTED ACTUAL / PROJECTED OPENING DEVELOPMENT PROJECTS DEVELOPMENT PROJECTS DEVELOPMENT PROJECTS DEVELOPMENT PROJECTS DEVELOPMENT PROJECT
Slide 14: Delray Marketplace, Delray Beach, Florida
KITE REALTY GROUP * DELRAY MARKETPLACE DELRAY BEACH, FLORIDA KEY STATS OPENED : : February, 2013 PROJECTED OWNED GLA : : 254,686 PROJECT COST : : $95M ANCHORED : : Publix, Frank Theatres/IMAX Cinebowl & Grille SHOPS : : Chico’s, White House | Black Market, Charming Charlie, JoS. A Bank, Apricot Lane
Slide 15: Holly Springs Towne Center, North Carolina
KITE REALTY GROUP * HOLLY SPRINGS TOWNE CENTER HOLLY SPRINGS, NORTH CAROLINA KEY STATS OPENING : : March, 2013 PROJECTED OWNED GLA : : 204,936 PROJECT COST : : $57M PRE-LEASED/COMMITTED : : 85.6% ANCHORED : : Target, Dick’s Sporting Goods, Marshall’s, Michael’s, PETCO SHOPS : : Charming Charlie, ULT
Slide 16: Parkside Town Commons, Raleigh, North Carolina
KITE REALTY GROUP * PARKSIDE TOWN COMMONS RALEIGH, NORTH CAROLINA KEY STATS NEW DEVELOPMENT : : Phase I PROJECTED OWNED GLA : : 98,979 PROJECT COST : : $39M PRE-LEASED/COMMITTED : : 59.8% ANCHORED : : Target, (non-owned) and Harris Teeters
Slide 17: Parkside Town Commons Phase I and Phase II
KITE REALTY GROUP * PARKSIDE TOWN COMMONS RALEIGH, NORTH CAROLINA PHASE I PHASE II
Slide 18: Rangeline Crossing, Carmel, Indiana
KITE REALTY GROUP * RANGELINE CROSSING CARMEL, INDIANA KEY STATS REDEVELOPMENT : : Projected Opening Q2 2013 PROJECTED OWNED GLA : : 84,327 PROJECT COST : : $15.5M PRE-LEASED/COMMITTED : : 94.5% ANCHORED : : Earth Fare, Walgreens, Old National Bank, Panera Bread
Slide 19: Rangeline Crossing, Carmel, Indiana
KITE REALTY GROUP * RANGELINE CROSSING CARMEL, INDIANA
Slide 20: Four Corner Square, Maple Valley, Washington
KITE REALTY GROUP * FOUR CORNER SQUARE MAPLE VALLEY, WASHINGTON KEY STATS REDEVELOPMENT : : Opened Q1 2013 PROJECTED OWNED GLA : : 108,523 PROJECT COST : : $27.5M PRE-LEASED/COMMITTED : : 87.1% ANCHORED : : Do It Best Hardware, Walgreens, Grocery Outlet
Slide 21: Four Corner Square, Maple Valley, Washington
KITE REALTY GROUP * FOUR CORNER SQUARE MAPLE VALLEY, WASHINGTON
Slide 22: Bolton Plaza, Jacksonville, Florida
KITE REALTY GROUP * BOLTON PLAZA JACKSONVILLE, FLORIDA KEY STATS REDEVELOPMENT : : Projected Opening Q1 2014 PROJECTED OWNED GLA : : 155,637 PROJECT COST : : $10.3M PRE-LEASED/COMMITTED : : 86.7% ANCHORED : : Academy Sports & Outdoors, LA Fitness
Slide 23: Recently Completed: Rivers Edge
KITE REALTY GROUP * RECENTLY COMPLETED RIVERS EDGE SUCCESSFULLY REDEVELOPED LEASED : : 100% ANCHORED : : Nordstrom Rack, The Container Store, buybuyBaby, Arhaus Furniture and BGI Fitness
Slide 24: Recently Completed: Eddy Street Commons at Notre Dame
KITE REALTY GROUP * RECENTLY COMPLETED EDDY STREET COMMONS AT NOTRE DAME SUCCESSFULLY DEVELOPED LEASED : : 96% ANCHORED : : Urban Outfitters, Hammes Bookstore, University of Notre Dame
Slide 25: Recently Completed: Cobblestone Plaza
KITE REALTY GROUP * RECENTLY COMPLETED COBBLESTONE PLAZA SUCCESSFULLY DEVELOPED LEASED : : 95% ANCHORED : : Whole Foods
Slide 26: Capital Recycling Strategy: Acquisition/Disposition Summary
QUALITATIVE CAPITAL RECYCLING STRATEGY:: KITE REALTY GROUP * ACQUISITION/DISPOSITION SUMMARY Continue to dispose of lower tier or un-anchored assets while recycling the capital into quality operating assets with strong tenancy, credit stability, and growth prospects.
Slide 27: Recent Acquisition Activity: Castleton Crossing and Cool Springs Market
KITE REALTY GROUP * RECENT ACQUISITION ACTIVITY CASTLETON CROSSING AND COOL SPRINGS MARKET– INDIANA AND TENNESSEE CASTLETON CROSSING LOCATION :: Indianapolis, IN ACQUIRED :: May, 2013 PURCHASE PRICE :: $39M TOTAL GLA :: 280,000 OWNED GLA :: 280,000 ANCHOR :: TJ Maxx, HomeGoods, Burlington Coat, and
Slide 28: Recent Acquisition Activity: Shoppes at Eastwood and Plaza Green
KITE REALTY GROUP * RECENT ACQUISITION ACTIVITY SHOPPES AT EASTWOOD AND SHOPPES AT PLAZA GREEN– FLORIDA AND SOUTH CAROLINA SHOPPES OF EASTWOOD LOCATION :: Orlando, FL ACQUIRED :: January, 2013 PURCHASE PRICE :: $11.6M TOTAL GLA :: 69,000 OWNED GLA :: 69,000 ANCHOR :: Publix SHOPPES AT PLAZA GREEN LO
Slide 29: Recent Acquisition Activity: Publix at Woodruff, 12th Street Plaza, Cove Center
PUBLIX AT WOODRUFF LOCATION :: Greenville, SC ACQUIRED :: December, 2012 PURCHASE PRICE :: $9.1M TOTAL GLA :: 68,055 OWNED GLA :: 68,055 ANCHOR :: Publix KITE REALTY GROUP * RECENT ACQUISITION ACTIVITY PUBLIX AT WOODRUFF, 12TH STREET PLAZA, AND COVE CENTER – SOUTH CAROLINA AND FLORIDA
Slide 30: Operational Metrics/NOI Growth
OPERATIONAL METRICS/NOI GROWTH
Slide 31: Portfolio Operating Metrics
KITE REALTY GROUP * PORTFOLIO OPERATING METRICS FOCUS ON GROWING SMALL SHOP OCCUPANCY :: 6 Straight Quarters of Small Shop Occupancy Trends FOCUS ON OVERALL LEASING % GAINS :: 4 Consecutive Quarters of Total Leasing % Growth RESULT :: REVENUE GROWTH
Slide 32: Property Operating Income: SS NOI Growth
KITE REALTY GROUP * PROPERTY OPERATING INCOME SS NOI GROWTH THE QUALITY NATURE OF OUR PORTFOLIO AND ASSET LOCATIONS ALLOWS US TO INCREASE AGGREGATE LEASING SPREADS AND GENERATE SIGNIFICANT SAME PROPERTY NOI GROWTH.
Slide 33: Anchor/Small Shop SF Breakdown
KITE REALTY GROUP * ANCHOR/SMALL SHOP SF BREAKDOWN LEASE PORTFOLIO BREAKDOWN STABLE ANCHOR FOUNDATION PROVIDES SMALL SHOP GROWTH OPPORTUNITIES (SF)
Slide 34: Balance Sheet Activity
BALANCE SHEET ACTIVITY
Slide 35: Capital Activities & Balance Sheet Strategy
KITE REALTY GROUP * CAPITAL ACTIVITIES & BALANCE SHEET STRATEGY (1) As of December 31, 2012 REDUCED INTEREST RATE AND INCREASED FLEXIBILITY WITH THE MATURITY SCHEDULE (1) Weighted Average
Slide 36: Debt & Capital Market Updates
KITE REALTY GROUP * DEBT & CAPITAL MARKET UPDATES PRIMARY BALANCE SHEET INITIATIVES Manage floating rate debt to a target of less than 20% of total debt. De-levering in process through NOI growth, acquisitions, development deliveries and non-core asset sales. SIGNIFICANT 2012/2013 CAPITAL MARKETS TR
Slide 37: Schedule of Debt Maturities
KITE REALTY GROUP * SCHEDULE OF DEBT MATURITIES
Slide 38: Shareholder Objectives / Returns
SHAREHOLDER OBJECTIVES / RETURNS
Slide 39: Total Return Summary / Thesis
KITE REALTY GROUP * TOTAL RETURN SUMMARY / THESIS Q1 QTD 2013 TOTAL RETURNS 2012 TOTAL RETURNS KITE REALTY GROUP is focused on growth, quality, and a commitment to it’s shareholders. Accretive growth through a larger asset base remains a strategic objective. The company is actively targeting select
Slide 40: KRG - Recovering Strong
KITE REALTY GROUP * KRG - RECOVERING STRONG Source: SNL Financial 2.12.10 – 2.12.13
Slide 41: Forward-Looking Statements
KITE REALTY GROUP * 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
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