The transaction is expected to close during the fourth quarter of 2021 subject to customary closing conditions, including the approval of both KRG and RPAI shareholders. To ensure the organization could hit the ground running post acquisition, KRG turned to enVista to manage the planning, execution and. 02, 2022 (GLOBE NEWSWIRE) - Kite Realty Group Trust (NYSE: KRG), a. We are thrilled to announce the successful completion of the transformational merger with RPAI. This represents a 13% premium to RPAI's closing stock price. Raises 2022 guidance Leased approximately 1.2 million square feet at 13.2 comparable blended cash leasing spreads Acquired grocery-anchored Palms Plaza (Boca Raton, FL) for 35.8 million Upsized revolving credit facility to 1.1 billion from 850 million Issued a 300 million unsecured 7-year term loan INDIANAPOLIS, Aug. 22, 2021 (GLOBE NEWSWIRE) - Kite Realty Group Trust. The transaction assumes a KRG share price of $20.83, which was the closing price on July 16. REIT, and the acquisition, holding, and disposition of (i) our common shares, preferred shares and depositary shares (together with common shares and preferred. Under the deal terms, each RPAI share will be converted into 0.6230 newly issued KRG common shares in a 100% stock-for-stock transaction. Fitch Ratings - New York - : Fitch Ratings has affirmed the Long-Term Issuer Default Ratings of Kite Realty Group Trust, and Kite Realty Group L.P. The deal is expected to be immediately accretive to earnings per share upon realizing cash expense synergies of $27 million to $29 million. Under the terms of the agreement, each RPAI common share will be converted into 0.623 newly issued KRG common shares. as financial advisor to Kite Realty Group Trust (Kite Realty) in its merger with Retail Properties of America Inc. The combined company is expected to have an equity market capitalization of approximately $4.6 billion and a total enterprise value of approximately $7.5 billion upon the closing of the deal. INDIANAPOLIS, J(GLOBE NEWSWIRE) - Kite Realty Group Trust (NYSE: KRG), a premier owner and operator of high-quality, open-air grocery-anchored neighborhood and community centers. Cleary Gottlieb is representing BofA Securities Inc. THIS AGREEMENT AND PLAN OF MERGER, dated as of J(this Agreement), is by and among Kite Realty Group Trust, a Maryland real estate investment trust that has elected to be treated as a real estate investment trust for federal income tax purposes (Parent), KRG Oak, LLC, a Maryland limited liability company and a wholly-owned subsidiary of. Following the deal, KRG will continue as the surviving public company. (RPAI) announced Monday that they have entered into a definitive merger agreement, under which RPAI would merge into a subsidiary of KRG. (RTTNews) - Kite Realty Group Trust (KRG) and Retail Properties of America, Inc. 14, 2022 (GLOBE NEWSWIRE) - Kite Realty Group Trust (NYSE: KRG), a premier owner and operator of high-quality, open-air grocery-anchored neighborhood and community centers, along with vibrant mixed-use assets, reported today its operating results for the fourth quarter and year ended December 31, 2021.
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