John Kite, chairman & CEO of Kite Realty Group (NYSE: KRG), participated in a video interview at Nareit’s REITweek: 2023 Investor Conference, held in New York June 6-8.
Kite mentioned that since the REIT’s merger with RPAI two years ago, its portfolio has been strategically located in high-growth, Sunbelt and select gateway markets.
“[The merger] enabled us to really concentrate our portfolio in markets such as the Sunbelt, where two-thirds of our revenue comes from,” he said. “But adding in the gateway markets is really…where our customers want to be.”
Kite said that ESG remains a big part of Kite Realty Group’s focus, particularly related to “the impact we have as a physical real estate company on the environment.” He noted that the company is focused on its carbon footprint, as well as being a “meaningful, important” member of its communities and having a diverse board of directors.
Kite added that his outlook for the broad grocery-anchored shopping center segment is bullish.
“Open-air retail has had a renaissance—[and it] has good tailwinds,” he said.