Kite Realty Group Trust
NAREIT - June 2009
Exhibit 99.1
COMPANY STRATEGY
Geographically diverse asset base
Property type more resilient in current economic environment
Diverse, high credit quality and value-oriented tenants
Young portfolio with strong demographics
Experienced executive management team with considerable insider share ownership
Emphasis on internal growth and continual operational efficiency improvement
Preserving liquidity and maintaining a strong balance sheet
Measured development spending
2
GEOGRAPHICALLY DIVERSE
(1) Includes Projected Total GLA for properties in the Current Development Pipeline and Redevelopment Pipeline. Total GLA includes owned GLA, square footage attributable to
non-owned outlot structures on land that the Company owns and non-owned anchor space that currently exists or is under construction.
Projected Total GLA Including Pipelines (1)
KRG is a full-service, vertically integrated firm with a geographically diversified portfolio of 55
operating properties and 9 properties under development or redevelopment with
approximately 9.7 million square feet of total GLA
Information as of March 31, 2009
3
Consumer Behavior
Nationwide consumption levels have declined, but a portion of the consumer’s behavior is driven
by necessity. Grocery-anchored centers and value-oriented centers anchored by retailers such
as Target and Wal-Mart will continue to create traffic
PROPERTY ALLOCATION
(1)
Includes Projected Total GLA for properties in the Current Development/Redevelopment Pipeline. Total GLA includes owned GLA, square footage attributable to non-owned
outlot structures on land that the Company owns, and non-owned anchor space that currently exists or is under construction.
Property Type Allocation by Projected Total GLA (1)
Information as of March 31, 2009
4
DIVERSE TENANT BASE
(1)
Annualized base rent represents the monthly contractual rent for March 2009 for each applicable tenant multiplied by 12.
(2)
S&P credit ratings for parent company as of 6/1/2009.
Largest single retail tenant comprises only 3.6% of total annualized base rent
Top 10 retail tenants account for only 22.9% of total annualized base rent
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Information as of March 31, 2009
Number
% of
% of Portfolio
Of
Owned
Annualized
S&P
Tenant
Locations
GLA
Base Rent
(1)
Credit Rating
(2)
1
Lowe's Home Improvement
3
2.3%
3.6%
A+
2
Publix
6
5.1%
3.3%
n/a
3
PetSmart
6
2.6%
2.9%
BB
4
Marsh Supermarkets
2
2.2%
2.3%
n/a
5
Bed Bath & Beyond
5
2.4%
2.2%
BBB
6
Office Depot
5
2.3%
1.9%
B
7
Staples
4
1.6%
1.7%
BBB
8
Dick's Sporting Goods
2
2.2%
1.7%
n/a
9
Ross Stores
4
2.1%
1.7%
BBB
10
HEB Grocery
1
1.9%
1.6%
n/a
Total
24.7%
22.9%
Top 10 Retail Tenants
STRONG DEMOGRAPHICS
Source: Applied Geographic Solutions.
Portfolio is positioned for potential rental rate increases at lease expirations
High quality assets with an average age of only seven years
Roughly half of the current portfolio was developed by KRG
Portfolio benefits from 100% non-owned anchor occupancy
Strong household incomes surrounding operating portfolio and development pipelines
Portfolio Demographics Comparison
Operating Portfolio vs. Development Pipelines
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Operating Portfolio
3 Mile
5 Mile
Development Pipeline
3 Mile
5 Mile
2008 Est. Population
48,103
117,409
2008 Est. Population
59,392
156,359
2013 Est. Population
53,753
130,218
2013 Est. Population
64,039
169,358
Projected Annual Growth
2.3%
2.2%
Projected Annual Growth
1.6%
1.7%
Average HH Income
$82,057
$81,456
Average HH Income
$85,852
$86,284
Radius
Radius
WELL-STAGGERED LEASE EXPIRATIONS
(1)
Lease expirations of operating portfolio and excludes option periods, month to month tenants and ground leases. Annualized base rent represents the monthly contractual
rent for March 2009 for each applicable property multiplied by 12.
No more than 10.9% of total annualized rent is expected to roll over in any one year
Percentage of Lease Expiration by Total Annualized Base Rent (1)
Information as of March 31, 2009
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MANAGING LEVERAGE
Equity offerings in October 2008 and May 2009
Average price of $4.24 per share
Net proceeds totaling approximately $136 million
Improved capital structure and enhanced liquidity
Paid down unsecured credit facility with a portion of offering proceeds
Current cash and available credit totaling approximately $120 million
Remaining excess proceeds will be used to repay 2009 & 2010 indebtedness and fund
future capital needs
Approximately $39 million in remaining 2009 maturities including lender commitments
Mitigated interest rate exposure
Approximately 75% of total debt is fixed rate
Conservative Debt to Gross Assets
Approximately 51% post offering
8
MANAGING DEBT MATURITIES
9
Extended or refinanced nearly $200 million in maturing debt since Q3 2008
Only $48 million of CMBS debt maturing through 2011
(1)
Maturities also include annual principal amortization.
(2)
Includes effects of loan closings and commitments that occurred subsequent to March 31, 2009 as well as the Company’s equity offering in May 2009.
(3)
Amount due in 2012 includes the outstanding balance on our unsecured revolving credit facility, and assumes exercise of available extension option.
Events
As of
% of
As of
% of
Subsequent to
% of
9/30/2008
(
1)
Total
3/31/2009
(
1)
Total
3/31/2009
(1)(2)
Total
2008
$18,740
3%
$0
0%
$0
0%
2009
$214,508
28%
$76,845
11%
$41,315
6%
2010
$13,470
2%
$67,144
9%
$91,511
13%
2011
$81,327
11%
$163,464
23%
$155,064
22%
2012
(3)
$187,588
25%
$166,905
23%
$182,305
25%
2013
$13,016
2%
$7,584
1%
$7,584
1%
2014
$27,237
4%
$35,637
5%
$39,800
5%
2015
$41,259
5%
$41,259
5%
$41,259
5%
Thereafter
$160,183
21%
$160,183
22%
$160,183
22%
Total Maturities
$757,328
100%
$719,021
99%
$719,021
100%
MANAGING DEVELOPMENT COSTS
Current Development Pipeline (Dollars in thousands)
Total Estimated Project Costs: $91,200
Cost Incurred as of 3/31/09: $60,323
Remaining Cost to be Spent: $30,877 - To be funded by existing construction loans
Visible Shadow Pipeline (Dollars in thousands)
KRG Share of Total Costs as of 12/31/08: $293,800
KRG Share of Total Costs as of 3/31/09: $184,400
Estimated Cost Reduction: $109,400
Focus on ground leases or land sales to transfer vertical construction costs to end users
Phased development aligns project scope with market conditions
Negotiated removal of residential and parking garage components of Delray Marketplace
Reflects the Company’s share of Parkside Town Commons at 20% upon commencement of
construction
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DISCLAIMER
This presentation may include certain “forward-looking statements” within the meaning
of the Private Securities Litigation Reform Act of 1995. These forward-looking
statements include, but are not limited to, our plans, objectives, expectations and
intentions and other statements contained in this document that are not historical facts
and statements identified by words such as “expects, “anticipates,” “intends,” “plans,”
“believes,” “seeks,” “estimates” or words of similar meaning. These statements are
based on our current beliefs or expectations and are inherently subject to significant
uncertainties and changes in circumstances, many of which are beyond our control.
Actual results may differ materially from these expectations due to changes in global
political, economic, business, competitive, market and regulatory risk factors.
Information concerning risk factors that could affect Kite Realty Group Trust’s actual
results is contained in the Company’s reports filed from time to time with the Securities
and Exchange Commission, including its 2008 Annual Report on Form 10-K and its
quarterly reports on Form 10-Q. Kite Realty Group Trust does not undertake any
obligation to update any forward-looking statements contained in this document, as a
result of new information, future events or otherwise.
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