Kite Realty Group Trust

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.