Kite Realty Group Trust

Overview

Deal Type Mergers & Acquisitions
Client & Transactional Partners Kite Realty Group Trust
Retail Properties of America, Inc.
Our Role Buy-Side Advisor

Summary

On October 22, 2021, Kite Realty Group Trust (NYSE: KRG) completed its previously announced merger (the “Transaction”) with Retail Properties of America, Inc. (NYSE: RPAI) under which RPAI merged into a subsidiary of KRG, with KRG continuing as the surviving public company. As of the effective time of the merger, each share of RPAI’s common stock was cancelled and converted into the right to receive 0.623 KRG common shares, plus cash in lieu of fractional shares, pursuant to the merger agreement, and RPAI’s common stock will no longer trade on the NYSE. The Transaction serves to more than double KRG’s presence in high-growth warmer and cheaper markets, while also introducing and enhancing KRG’s presence in strategic gateway markets. The merger is expected to be immediately FFO and NAV accretive, and KRG will continue to be led by Chairman and CEO John A. Kite and the KRG executive team. KeyBanc Capital Markets served as a Buy-Side Advisor to KRG.

Kite Realty Group Trust is one of the largest publicly traded owners and operators of open-air shopping centers and mixed-use assets. The Company’s primarily grocery- anchored portfolio is located in high-growth warmer and cheaper markets and select strategic gateway markets. As of September 30, 2021, pro forma for the Transaction, KRG owned interests in 185 U.S. open-air shopping centers comprising over 30 million square feet of gross leasable space.

Recent Deals

July 2022

 

$280 Million

Senior Secured Credit Facilities

Left Lead Arranger
Joint Bookrunner
Administrative Agent

Debt Capital Markets

intralot-inc-
July 2022

Lofts on Main

$14.3 Million

Adaptive Reuse and New Construction

Construction

lofts-on-main
June 2022

 

$126.9 Million

Educational Facilities Revenue Bonds

Sole Manager

Debt Capital Markets

depauw-university
June 2022

has been acquired by

 

$30 Million

Asset-Based Revolving Credit Facility

Administrative Agent
Sole Lender

Debt Capital Markets

kksp-precision-machining-llc
June 2022


Series D Funding

led by

Morgan Stanley Expansion Capital

$140 Million

Exclusive Financial Advisor

Mergers & Acquisitions

platform-sh
June 2022

Darby Crossing

$74 Million

Construction and Private Placement Loan

Construction
Private Placement

darby-crossing
June 2022

the parent company of

AEP Transmission Company, LLC

$550 Million

Senior Notes

Joint Bookrunner

Debt Capital Markets

aep-transmission-company,-llc
May 2022

has received a strategic investment from

 

Exclusive Financial Advisor

Mergers & Acquisitions

valta-energy
May 2022

 

a portfolio company of

has been acquired by

 

Exclusive Sell-Side Advisor

Mergers & Acquisitions

thermogenics-inc-
May 2022

 

Tiburon Place

$53 Million

4% bond LIHTC and State Housing Equity

Construction

tiburon-place
May 2022

 

$500 Million

Senior Secured Credit Facility

Joint Bookrunner
Joint Lead Arranger

Debt Capital Markets

delaware-basin-resources-llc
May 2022

 

Cheshire Station

 

$17.6 Million

Acquisition

Lender

CMBS

cheshire-station
May 2022

ACG Portfolio-Oakland Glen MHC

ACG Portfolio-Clayton Acres MHC

$59.5 Million

Refinance

Lender

Fannie Mae

acg-portfolio
May 2022

 

Stonetown - North Pines

Stonetown - Country Meadows

$82 Million

Acquisition

Lender

Fannie Mae

stonetown-trinity-portfolio
May 2022

Sawgrass Point

$28.5 Million

Refinance

Lender

Fannie Mae

sawgrass-point
May 2022

 

Floorplan Inventory Financing and Commercial Real Estate Lending

Lender

Mergers & Acquisitions

great-falls-subaru
May 2022

a portfolio company of

has acquired

 

$545 Million

Senior Secured Credit Facilities

Administrative Agent
Joint Bookrunner
Left Lead Arranger

Debt Capital Markets

congruex-group-llc
May 2022

 

$2.55 Billion

Senior Secured Credit Facilities

Co-Documentation Agent
Joint Lead Arranger

Debt Capital Markets

penn-national-gaming,-inc-
May 2022

 

$95 Million

Senior Secured Credit Facilities

Administrative Agent
Joint Lead Arranger
Sole Bookrunner

Debt Capital Markets

doyon-limited

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