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Kite Realty Group Trust Announces Pricing Of Common Share Offering

Stocks in this article: KRG

Kite Realty Group Trust (NYSE: KRG) (the “Company”) announced today that it has priced, in an underwritten public offering, 10,500,000 additional shares of its common shares of beneficial interest (“Common Shares”) at a public offering price of $5.20 per share. The underwriters have been granted a 30-day option to purchase up to an additional 1,575,000 Common Shares. The Company estimates that the net proceeds from this offering, after deducting the underwriting discount and estimated offering expenses payable by the Company, will be approximately $52.0 million, or approximately $59.9 million if the underwriters’ option to purchase additional Common Shares is exercised in full.

The Company intends to use all of the net proceeds from this offering to repay amounts outstanding under its revolving credit facility. Such net proceeds may be redeployed for other general corporate purposes, including the acquisition of properties and redevelopment costs.

The offering, which is subject to customary closing conditions, is expected to close on or about October 22, 2012.

BofA Merrill Lynch, Citigroup, KeyBanc Capital Markets and Raymond James are acting as the book-running managers for the offering. Wells Fargo Securities is acting as the lead manager for the offering. RBC Capital Markets is acting as the senior co-manager for the offering. Evercore Partners and The Huntington Investment Company are acting as co-managers for the offering.

A shelf registration statement with respect to this offering was previously filed with the Securities and Exchange Commission and declared effective on January 11, 2012. A preliminary prospectus supplement relating to this offering has been filed with the Securities and Exchange Commission.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state. The offering is being made solely by means of a prospectus and related prospectus supplement. A copy of the final prospectus supplement and accompanying prospectus relating to this offering will be filed with the Securities and Exchange Commission and can be obtained, when available, from BofA Merrill Lynch, 222 Broadway, New York, New York 10038, Attn: Prospectus Department, or by email at dg.prospectus_requests@baml.com; from Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717; Tel: 800-831-9146; email: batprospectusdept@citi.com; from KeyBanc Capital Markets, Attention: Prospectus Delivery Department, 127 Public Square, 4th Floor, Cleveland, Ohio 44114; from Raymond James, 880 Carillon Parkway, St. Petersburg, Florida 33716, or by calling toll-free at 1-800-248-8863, or emailing prospectus@raymondjames.com; and from Wells Fargo Securities, Attention: Equity Syndicate Department, 375 Park Avenue, New York, New York, 10152, at (800) 326-5897 or by emailing a request to cmclientsupport@wellsfargo.com.

About Kite Realty Group Trust

Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust engaged in the ownership, operation, management, leasing, acquisition, construction, redevelopment and development of neighborhood and community shopping centers in selected markets in the United States. At June 30, 2012, the Company owned interests in a portfolio of 62 operating and redevelopment properties totaling approximately 9.3 million square feet and an additional four properties currently under in-process development totaling 0.7 million square feet.

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