Kite funds from operations rises nearly 11 percent

August 8, 2007
Funds from operations, a common measure of real estate investments trusts, increased 10.7 percent in the second quarter for Indianapolis-based Kite Realty Group Trust.

The $11.7 million was driven by strong performance in its core operations, the shopping center developer said this afternoon.

Progress also continued on development and redevelopment projects, it said, adding that redevelopment of Glendale Town Center in Indianapolis is proceeding as planned.
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