Kite Realty Group Trust · NYSE:KRG
Kite Realty Group Trust — Investor Presentation (August 2013)
35 slides from Kite Realty Group Trust's investor presentation, Aug 12, 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 :: 57 OPERATING RETAIL 2 OPERATING COMMERCIAL 4 REDEVELOPMENT 4 DEVELOPMENT UNDER CONSTRUCTION 67 PROPERTIES SQUARE FOOTAGE :: (MILLIONS) 9.3 OPERATING P
Slide 4: 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 Executing our Strategic Objectives Stabilizing Delray Marketplace, Holly Springs Towne Center, and Four Corner Square. Stabilized Rangeline Crossing and moved into the operating portfolio at 91.7% leased. Leasing progress within our Operating Portfolio. 95.4% l
Slide 6: Company Highlights
KITE REALTY GROUP * COMPANY HIGHLIGHTS As of June 30, 2013
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 6/30/13 (1) Primary market states in blue. (i) (i) On July 2, 2013, the Company transferred Kedron Village to the lender.
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 June 2013 for each applicable tenant multiplied by 12. Excludes tenant reimbursements. (2) S&P credit ratings for parent company as of 8/5/2013.
Slide 12: Development/Redevelopment Summary
KITE REALTY GROUP * DEVELOPMENT/REDEVELOPMENT SUMMARY PROPERTY PROPERTY STATE MAJOR TENANTS/CO-ANCHORS PROJECTED COST COST TO DATE % LEASED / COMMITTED ACTUAL / PROJECTED OPENING DEVELOPMENT PROJECTS UNDER CONSTRUCTION DEVELOPMENT PROJECTS UNDER CONSTRUCTION DEVELOPMENT PROJECTS UNDER CONSTRUCTION D
Slide 13: Delray Marketplace
KITE REALTY GROUP * DELRAY MARKETPLACE DELRAY BEACH, FLORIDA KEY STATS OPENED : : Q4 2012 PROJECTED OWNED GLA : : 255,554 PROJECT COST : : $97.5M ANCHORED : : Publix, Frank Theatres/IMAX Cinebowl & Grille SHOPS : : Chico’s, White House | Black Market, Charming Charlie, JoS. A Bank, Apricot Lane, Rep
Slide 14: Holly Springs Towne Center
KITE REALTY GROUP * HOLLY SPRINGS TOWNE CENTER HOLLY SPRINGS, NORTH CAROLINA KEY STATS OPENING : : Q1 2013 PROJECTED OWNED GLA : : 204,936 PROJECT COST : : $57M PRE-LEASED/COMMITTED : : 88.6% ANCHORED : : Target, Dick’s Sporting Goods, Marshall’s, Michael’s, PETCO SHOPS : : Charming Charlie, ULTA, P
Slide 15: Parkside Town Commons
KITE REALTY GROUP * PARKSIDE TOWN COMMONS RALEIGH, NORTH CAROLINA KEY STATS NEW DEVELOPMENT : : Phase I and II PROJECTED OWNED GLA : : 386,432 PROJECT COST : : $109M PRE-LEASED/COMMITTED : : 66.5% ANCHORED : : Target, (non-owned) and Harris Teeter, PETCO, Frank Theatres, Golf Galaxy, Field & Stream
Slide 16: Parkside Town Commons Phase I and II
KITE REALTY GROUP * PARKSIDE TOWN COMMONS RALEIGH, NORTH CAROLINA PHASE I PHASE II
Slide 17: Four Corner Square
KITE REALTY GROUP * FOUR CORNER SQUARE MAPLE VALLEY, WASHINGTON KEY STATS REDEVELOPMENT : : Opened Q1 2013 OWNED GLA : : 108,523 PROJECT COST : : $27.5M PRE-LEASED/COMMITTED : : 87.1% ANCHORED : : Do It Best Hardware, Walgreens, Grocery Outlet
Slide 18: Bolton Plaza
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 : : 88.7% ANCHORED : : Academy Sports & Outdoors, LA Fitness
Slide 19: Recently Completed: Rangeline Crossing
KITE REALTY GROUP * RECENTLY COMPLETED RANGELINE CROSSING SUCCESSFULLY REDEVELOPED OWNED GLA : : 84,327 LEASED : : 91.7% ANCHORED : : Earth Fare, Walgreens, Old National Bank, Panera Bread
Slide 20: 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 21: 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 22: Recently Completed: Cobblestone Plaza
KITE REALTY GROUP * RECENTLY COMPLETED COBBLESTONE PLAZA SUCCESSFULLY DEVELOPED LEASED : : 95% ANCHORED : : Whole Foods
Slide 23: Capital Recycling Strategy: Acquisition/Disposition 2012-2013 Summary
QUALITATIVE CAPITAL RECYCLING STRATEGY:: KITE REALTY GROUP * ACQUISITION/DISPOSITION 2012-2013 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. Acquisitions Dispositi
Slide 24: 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 25: 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 26: Operational Metrics/NOI Growth
OPERATIONAL METRICS/NOI GROWTH
Slide 27: Portfolio Operating Metrics
KITE REALTY GROUP * PORTFOLIO OPERATING METRICS FOCUS ON GROWING SMALL SHOP OCCUPANCY :: 6 Straight Quarters of Increased Small Shop Occupancy FOCUS ON OVERALL LEASING % GAINS :: 4 Consecutive Quarters of Total Leased % Growth RESULT :: REVENUE GROWTH
Slide 28: Property Operating Income SS NOI Growth
KITE REALTY GROUP * PROPERTY OPERATING INCOME SS NOI GROWTH THE QUALITY OF OUR PORTFOLIO AND ASSET LOCATIONS ALLOWS US TO INCREASE AGGREGATE LEASING SPREADS AND GENERATE SIGNIFICANT SAME PROPERTY NOI GROWTH.
Slide 29: Balance Sheet Activity
BALANCE SHEET ACTIVITY
Slide 30: Capital Activities & Balance Sheet Strategy
KITE REALTY GROUP * CAPITAL ACTIVITIES & BALANCE SHEET STRATEGY REDUCED INTEREST RATE AND INCREASED FLEXIBILITY WITH THE MATURITY SCHEDULE
Slide 31: 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 15% 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 32: Schedule of Debt Maturities
KITE REALTY GROUP * SCHEDULE OF DEBT MATURITIES (2) The Company transferred Kedron Village to the lender in full satisfaction of the related debt ($29.2mm) still included in 2017 scheduled debt maturities.
Slide 33: Shareholder Objectives / Returns
SHAREHOLDER OBJECTIVES / RETURNS
Slide 34: Total Return Summary / Thesis
KITE REALTY GROUP * TOTAL RETURN SUMMARY / THESIS 2013 YTD TOTAL RETURNS (AS OF 6.30.13) 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 targ
Slide 35: This presentation contains certain statements that are not historical fact and may constitute forward-looking
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
Kite Realty Group Trust — Investor Presentation (August 2013) on 6ix