Transactions - OCTOBER 22, 2021

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Kite Realty Group Trust merges with Retail Properties of America

by Kali Persall

Kite Realty Group Trust, an owner and operator of high-quality, open-air, grocery-anchored shopping centers, has completed its previously announced merger with Retail Properties of America Inc., owner and operator of high-quality, open-air, mixed-use shopping centers.

The combined portfolio is a mix of mostly necessity-based, grocery-anchored neighborhood and community centers, plus vibrant mixed-use assets. The merger more than doubles KRG’s presence in high-growth markets, while also introducing and enhancing KRG’s presence in strategic-gateway markets.

The combined company will continue to be led by John Kite, chairman and CEO of KRG, and the executive team.

“We are thrilled to announce the successful completion of the transformational merger with RPAI, creating a top-five open-air shopping center REIT,” Kite said. “The resulting open-air portfolio has a productive mix of properties predominantly located in high-growth warmer and cheaper markets, wh

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