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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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