![]() On July 18, 2021, the Company, and KRG Oak, LLC, a wholly-owned subsidiary of the Company, entered into a definitive merger agreement with Retail Properties of America, Inc. Retail leased percentage was 91.5%, a sequential increase of 100 basis points.Īs of June 30, 2021, KRG’s net-debt-to-Adjusted EBITDA was 6.4x. Signed significant new anchor leases, including Adidas at Portofino Shopping Center (Houston, TX) and Old Navy at Crossing at Killingly Commons (Willimantic, CT).Īnnualized base rent (ABR) per square foot for the operating retail portfolio was $18.48, a 2.2% increase year-over-year. GAAP leasing spreads of 31.2% (19.7% cash basis) on 11 comparable new leases, 12.1% (7.5% cash basis) on 39 comparable renewals, and 14.7% (9.2% cash basis) on a blended basis. Same-Property Net Operating Income (NOI) increased by 10.1%.Īpproximately 98% of second quarter base rent and recoveries have been collected.Īs detailed on page 19 of our supplemental, KRG had a recovery of bad debt of approximately $0.6 million.Įxecuted 73 new and renewal leases representing over 637,000 square feet, which more than doubled the year-over-year leasing activity. Generated Funds From Operations, as adjusted, of the Operating Partnership (FFO) of $29.6 million, or $0.34 per diluted common share.Įxcludes a positive impact of $1.1 million of 2020 Collection Impact (as defined below).Įxcludes a negative impact of $0.8 million of merger and acquisition costs. ![]() Generated NAREIT Funds From Operations of the Operating Partnership (FFO) of $29.9 million, or $0.34 per diluted common share. Realized net loss attributable to common shareholders of $0.2 million, or $0.00 per common share, compared to net loss of $4.8 million, or $0.06 per common share, for the three months ending Jand 2020, respectively. “Given the continued leasing momentum and reduced tenant fallout, we raised guidance an additional $0.02 at the midpoint.” “During the second quarter, KRG delivered exceptional operational results as we continue to capitalize on strong retailer demand for our high-quality open-air shopping centers,” said John A. 02, 2021 (GLOBE NEWSWIRE) - Kite Realty Group Trust (NYSE: KRG) reported today its operating results for the second quarter ended June 30, 2021.
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