12/12/2018 | By Nareit Staff
John Kite, chairman and CEO of Kite Realty Group Trust (NYSE: KRG), participated in a video interview at Nareit’s REITworld: 2018 Annual Conference in San Francisco.
While 80 percent of Kite Realty’s annualized base rent is derived from community, neighborhood, and lifestyle centers, Kite noted that the company is more focused on the actual real estate rather than the building product. “The real estate flexibility is really important to us,” he said.
Kite Realty recently announced the closing of a new $250 million, 10-year unsecured term loan. Kite said the move allowed the company to extend its debt maturity schedule by a full year to six years in a single transaction. “It gives us a great deal of flexibility as we head into potentially different times in the capital markets,” he said.
Kite also commented on the REIT’s strong operational performance and strategic execution during 2018. He highlighted the growth in net operating income and the 5 percent increase in average base rents year-over-year. The company also signed eight anchor leases year-to-date in 2018, versus two a year ago.