Kite Realty Puts Up $307M For Retail Portfolio

Law360, Los Angeles (November 6, 2013, 8:50 PM EST) -- Kite Realty Group Trust announced on Wednesday that it has acquired nine retail centers across four Southern states for $307 million in cash, in a move that substantially increases the size and value of its portfolio.

Indianapolis-based Kite Realty said seven of the properties are located in its existing markets of Florida, Georgia and Texas, while two are located in a new market, Birmingham, Ala., according to a news release. The shopping centers have a total leasable area of approximately 2 million square feet, according to the firm.

The transaction is consistent...
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