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Stock Market & Financial Investment News

News Breaks
November 27, 2013
10:04 EDTKRGKite Realty Trust closes on previously announced acquisition
Kite Realty Group Trust announced that it has closed on the previously announced acquisition of a portfolio of nine retail operating properties for $304M. The portfolio has an aggregate owned gross leasable area of approximately 2M square feet and was 93.2% leased as of September 30. Seven of the acquired properties are located in the company’s existing markets of Florida, Georgia, and Texas, while two are in a new market in Birmingham, Alabama. The acquisition was funded with a combination of net proceeds from the company’s recent common share offering and borrowings on its revolving line of credit.
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April 8, 2014
08:40 EDTKRGKite Realty Trust completes sale of three non-core properties for $35.2M
Kite Realty Group Trust announced that it has closed on the disposition of three non-core retail properties generating $35.2M in gross proceeds. During the quarter ending March 31, the company completed the sale of 50th and 12th, a 14,500 square feet single-tenant Walgreens in the Seattle, Washington; Red Bank Commons, a 34,300 square feet non-anchored center in the Evansville, Indiana; and Ridge Plaza, a 115,100 square feet A&P anchored center in the Oak Ridge, New Jersey. The proceeds from the dispositions were primarily used to pay down debt.

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