Kite Realty Group Trust · NYSE:KRG
Kite Realty Group Trust — Investor Presentation (September 2014)
20 slides from Kite Realty Group Trust's investor presentation, Sep 9, 2014
Slide 1: Investor Presentation September 2014
Investor Presentation September 2014
Slide 2: Agenda
AGENDA COMPANY & PORTFOLIO OVERVIEW PERFORMANCE UPDATE FUTURE GROWTH INITIATIVES & VALUE ADD OPPORTUNITIES WRAP UP * AGENDA City Center, New York
Slide 3: Company & Portfolio Overview
COMPANY & PORTFOLIO OVERVIEW North Carolina
Slide 4: Kite Realty Group Trust
* KITE REALTY GROUP TRUST TICKER SYMBOL :: KRG (NYSE since 2004) FOUNDED :: 1971 HEADQUARTERS :: Indianapolis, Indiana PORTFOLIO :: (1) 124 OPERATING RETAIL 2 OPERATING OFFICE 4 REDEVELOPMENT 3 DEVELOPMENT 133 PROPERTIES SQUARE FOOTAGE :: (1) (MILLIONS) 19.6 OPERATING PROPERTIES 1.0 REDEVELOPMENT/DE
Slide 5: Current Portfolio Snapshot
CURRENT PORTFOLIO SNAPSHOT * (1) Data pro forma for Inland Diversified, as of July 1, 2014. (2) Other includes office and single tenant shops. Source: demographic data from AGS. Number of Properties / Owned SF 133 / 20.6mm Total Occupancy (Owned SF) 95.5% Shop Occupancy (Owned SF) 86.1% Annualized B
Slide 6: High-Quality Portfolio with Staggered Lease Expirations
HIGH-QUALITY PORTFOLIO WITH STAGGERED LEASE EXPIRATIONS Retail ABR Breakdown Lease Expirations Wheatland Wheatland, TX (Dallas MSA) Mullins Crossing Evans, GA (Augusta MSA) University Town Center Norman, OK * Note: Data pro forma for Inland Diversified, as of July 1, 2014.
Slide 7: Strong and Diverse Portfolio: Top Tenants and Properties
Top 10 Tenants By ABR (1) STRONG AND DIVERSE PORTFOLIO * Top 10 properties and tenants in aggregate account for less than 25% of total ABR and no single tenant contributes more than 4% ABR ___________________________ (1) As of July 1, 20014; includes development and redevelopment projects. Tenants S
Slide 8: Top 10 Best Cities for Job Growth
Top 10 Cities For Job Growth (1) In Portfolio (2) Naples, FL Austin, TX McAllen, TX Greeley, CO Dallas, TX Cape Coral, FL Raleigh, NC Port St. Lucie, FL Houston, TX San Antonio, TX TOP 10 BEST CITIES FOR JOB GROWTH * Existing portfolio and focus areas for acquisition, development and
Slide 9: Performance Update
PERFORMANCE UPDATE Draper Crossing (UT) Glendale Town Center (IN)
Slide 10: Key Milestones
* KEY MILESTONES In discussions with a potential buyer for several assets to further optimize our existing portfolio Successfully completed $2 billion merger with Inland Diversified on July 1st, 2014 Acquired nine-property portfolio in November 2013 – 38% of ABR in Houston, Texas FURTHER ENHANCE BAL
Slide 11: Strong Operating Metrics
* STRONG OPERATING METRICS Portfolio Occupancy (1) Same Property NOI Growth ___________________________ Source: Company filings; as of Q2 2014 unless otherwise noted. (1.) As of July 1, 2014. Continued strong operating performance; industry-leader in key metrics compared to peers Cash Lease Spreads
Slide 12: Flexible Capital Structure: Debt Maturity Schedule
FLEXIBLE CAPITAL STRUCTURE A well-staggered and extended debt maturity schedule provides balance sheet stability and the financial flexibility to execute growth strategy * As of July 2014. Chart excludes annual principal payments and net premiums on fixed rate. Schedule reflects post merger loan pay
Slide 13: Flexible Capital Structure: Liquidity Sources
FLEXIBLE CAPITAL STRUCTURE Multiple sources of liquidity and strong capital structure with a focus on achieving and maintaining investment grade metrics Cash $23mm 0.6% Unsecured Facilities (3) $375mm capacity available $355mm outstanding $730mm total available 9.1% Mortgage Debt $1,318mm 33.9% Equi
Slide 14: Future Growth Initiatives & Value-Add Opportunities
FUTURE GROWTH INITIATIVES & VALUE-ADD OPPORTUNITIES King’s Lake (FL) (before) King’s Lake (FL) (after)
Slide 15: Company Objectives and Strategy
COMPANY OBJECTIVES AND STRATEGY KRG will continue to be focused on generating strong operational performance and maintaining a conservative capital structure to drive shareholder value Company Objectives Lower leverage and conservative balance sheet provides financial flexibility Staggered debt matu
Slide 16: Company Objectives & Key Levers for Growth
COMPANY OBJECTIVES & KEY LEVERS FOR GROWTH Various growth levers can be utilized to enhance the existing portfolio and shareholder value while maintaining a prudent and balanced business plan * Financial Flexibility Announced dispositions, in non-core markets with strategic plan to recycle capital i
Slide 17: Company Objectives & Key Levers for Growth: Events on the Horizon
COMPANY OBJECTIVES & KEY LEVERS FOR GROWTH Events on the horizon and key goals for the future position KRG well for future growth and operational performance * Financial Flexibility Recycle sale proceeds into high quality assets Stabilize Parkside development in 2H 2015 Holly Springs, Phase II targe
Slide 18: Focused Geographic Expansion
Continue to focus on strategic plan for long-term expansion in core markets FOCUSED GEOGRAPHIC EXPANSION * States In Pro Forma Portfolio Planned Disposition Markets
Slide 19: Market Discounts Kite Performance
* MARKET DISCOUNTS KITE PERFORMANCE ___________________________ Source: SNL. Despite strong overall performance and outlined growth path, the market appears to be discounting the valuation In Summary Price / FFO Multiple 2014E (1) Strategic M&A execution Focused on key growth markets Diversified pro
Slide 20: Forward-Looking Statements
Certain statements in this presentation that are not in the present or past tense or that discuss the Company’s expectations (including any use of the words “anticipate,” “assume,” “believe,” “estimate,” “expect,” “forecast,” “guidance,” “intend,” “may,” “might,” “outlook,” “project”, “should” or si
Kite Realty Group Trust — Investor Presentation (September 2014) on 6ix