9/8/2023 0 Comments Kite realty trustAs previously disclosed, acquired Palms Plaza (Boca Raton, FL) for a purchase price of $35.8 million.Third Quarter 2022 Capital Allocation Activity Portfolio leased-to-occupied spread of 270 basis points, which equates to $38.0 million of signed-not-open NOI.Retail portfolio percent leased of 94.0% at September 30, 2022, a sequential increase of 20 basis points and a 120-basis point increase on a year-over-year basis.Operating retail portfolio annualized base rent (ABR) per square foot of $19.86 at September 30, 2022, a 7.1% increase year-over-year.Excluding option renewals, the blended cash spreads for comparable new and non-option renewal leases was 15.8%. Cash leasing spreads of 30.7% on 22 comparable new leases, 8.5% on 134 comparable renewals, and 10.8% on a blended basis.Executed 221 new and renewal leases representing approximately 1.6 million square feet.Same Property Net Operating Income (NOI) increased by 4.4%.Excludes a positive impact of $0.7 million of prior period collection impact related to the recovery of cash and non-cash bad debt and accounts receivable in 2022.Generated FFO, as adjusted, of the Operating Partnership of $107.7 million, or $0.48 per diluted share, which represents a 45% per share increase over the comparable period in 2021. Generated NAREIT Funds From Operations of the Operating Partnership (FFO) of $108.3 million, or $0.49 per diluted share.Net loss attributable to common shareholders of $7.8 million, or $0.04 per diluted share, compared to net loss of $7.0 million, or $0.08 per diluted share, for the quarters ended Septemand 2021, respectively.We are laser-focused on taking advantage of the robust demand for open-air retail space and delivering long-term value to all our stakeholders.” Our outstanding results allowed us to once again raise 2022 guidance. “Our relentless team leased approximately 1.6 million square feet at nearly 11% comparable blended cash leasing spreads, highlighted by non-option renewal spreads in excess of 12%. “KRG produced strong third quarter results driven by our operational excellence and high-quality portfolio,” said John A. 02, 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 third quarter ended September 30, 2022. Raises 2022 guidance Leased approximately 1.6 million square feet, an all-time high for KRG, at 10.8% comparable blended cash leasing spreads Issued inaugural Corporate Responsibility Report
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