![]() ![]() Repaid $100 million of the outstanding balance on KRG’s credit facility during the second quarter and another $100 million subsequent to quarter end, thereby lowering the outstanding amount to $100 million.Įntered into a joint venture with a local developer for the construction of 267 multi-family units on an under-utilized parking field at Glendale Town Center in Indianapolis, IN. Subsequent to quarter end, KRG sold Courthouse Shadows, a non-operating asset, for $14 million. Retail leased percentage was 94.0%, a decrease of 110 basis points year-over-year. GAAP leasing spreads of 95.6% (78.9% cash basis) on 4 comparable new leases, 16.8% (9.3% cash basis) on 24 comparable renewals, and 29.3% (19.9% cash basis) on a blended basis.Īnnualized base rent (ABR) for the operating retail portfolio was $18.08, a 4% increase year-over-year. $870,000 for prior period accounts receivable balances.Įxecuted 35 new and renewal leases representing 302,411 square feet. $4.9 million for rental income due during the second quarter, which represents approximately 7% of all second quarter billings KRG’s bad debt reserve this quarter was approximately $6.6 million, comprised of: Same-Property Net Operating Income (NOI), which was negatively impacted by COVID-19, decreased by 9.8%. Generated NAREIT Funds From Operations of the Operating Partnership (FFO) of $25.4 million, or $0.30 per diluted common share. ![]() Realized net loss attributable to common shareholders of $4.8 million, or $0.06 per common share, compared to net loss of $1.8 million, or $0.02 per common share, for the same period in 2019. KRG’s second quarter rent collection of 80% and July rent collection of 87% are a testament to the strength of our assets.” “While the pandemic has caused significant dislocation to all our lives, we believe that strong retail real estate like KRG’s will play an increasingly important role in retailer strategies as they focus their operations on the locations best placed to serve their customers’ needs. “During the ongoing COVID-19 pandemic, we remain committed to the safety of our employees, tenants, and customers as our centers provide essential and desirable shopping destinations,” said John A. 05, 2020 (GLOBE NEWSWIRE) - Kite Realty Group Trust (NYSE: KRG) reported today its operating results for the second quarter ended June 30, 2020. ![]()
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