Kite Realty Closes on Purchase of $307 Million Portfolio

Indianapolis — Kite Realty Group purchased the portfolio from a New York-based private equity firm.

Indianapolis — Kite Realty Group has closed on the purchase of a 10-property, 2.1 million-square-foot retail portfolio for $307 million. The firm acquired the properties from a New York-based private equity firm. The portfolio contains four properties in Florida, three in Alabama, two in Texas and one in Georgia. Anchor tenants include Publix, Walmart, The Fresh Market, T.J. Maxx and Marshall. The portfolio was 93 percent occupied at the time of sale.

Following this acquisition, Indianapolis-based Kite Realty Group’s total portfolio now contains 78 properties or nearly 12 million square feet under management.

Cliff Taylor with CBRE’s private capital group; Dennis Carson and Casey Rosen with CBRE’s national retail investment group in Miami; Chris Cozby, Chris Gerard and Kevin Holland with CBRE’s national retail investment group in Dallas; and Chris Decoufle and Kevin Reavey with CBRE’s national retail investment group in Atlanta advised the seller during the transaction.

Shopping Center Business originally reported on Kite Realty Group’s plans to acquire this portfolio in mid-November. To read that article, click here.

Tagged under