Kite Realty Closes On $307M Retail Portfolio
Kite Realty Group Trust (NYSE: KRG) agreed to acquire a nine-property retail portfolio totaling approximately two million square feet for $307 million in cash. Kite is funding the purchase through net proceeds from a common share offering, cash on hand including from the dispositions of two retail properties Kite is currently marketing for sale, and borrowings under its unsecured revolving credit facility. Two of the nine properties being acquired...
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