Kite Realty Group Trust’s Anchor Business Flourishing

John Kite, chairman and CEO of Kite Realty Group Trust (NYSE: KRG), joined Nareit in New York for a video interview at REITweek: 2019 Investor Conference.

Kite said that the REIT advised its shareholders that it would sell at least $350 million in 2019, and as of early June 2019, it had sold $180 million with another $140 million under contract. He said it’s part of a strategic plan to strengthen Kite Realty Group’s balance sheet and the quality of its assets.

He also said that the anchor side of the REIT’s business is about 97% leased, and that in the past two years, the company has closed 20 new anchor leases.

Kite said sustainable business practices are important in order to be good stewards of the environment and that Kite Realty Group looks at energy savings though LED programs as one way to remain on top of these efforts.