The two local developers said they hope to start work on a 267-unit apartment project in Glendale Town Center’s parking lot by the end of this year.
A powerful group of hoteliers that opposes a proposal to build a pair of hotels on Pan Am Plaza scored a victory in the Legislature. But the plan to construct the project remains very much alive.
Some of the biggest hotel operators in Indianapolis say the city would not be able to absorb the 800-room and 600-room hotels planned by Kite Realty Group Trust alongside the proposed expansion of the Indiana Convention Center at Pan Am Plaza.
Hospitality industry observers say this is far from an ideal time for Kite—a publicly traded real estate investment trust specializing in shopping centers—to veer outside its core business and tackle what would be a risky and colossal project that easily could cost more than $600 million.
The Indianapolis-based real estate investment trust executed 93 leases and opened spaces for 39 new tenants in the quarter.
Heath R. Fear has been named executive vice president and CFO of the Indianapolis-based real estate investment trust, replacing Dan Sink, who stepped down June 30 after serving as Kite’s CFO for almost 20 years.
Kite Realty Group Trust now sports a whopping 8.5 percent annual dividend yield—by far the highest of any publicly traded firm in Indiana—a reflection of the cold shoulder investors are giving retail real estate companies as internet sales soar higher.
Indianapolis-based real estate developer Kite Realty Group Trust outperformed analyst forecasts with higher-than-expected revenue and funds from operations.
The Cincinnati-based grocery chain instead is opting to renovate a much smaller existing grocery across the street from where the proposed store would have been built. The decision leaves a massive hole for Kite Realty Group to fill in Fishers Station shopping center.
The Indianapolis-based real estate investment trust met expectations of analysts with its third-quarter performance.
Kite Realty Group Trust on Wednesday reported second-quarter financial results that topped Wall Street expectations.
Some portfolio managers believe the market is painting the retail sector with too broad a brush. Yes, they say, many malls will go under, as will many retailers. But developers focusing on high-end properties—a description that fits both Simon and Kite—should fare just fine.
Kite Realty Group Trust saw higher revenue and better-than-expected funds from operations in the first quarter, but profit slipped.
The Indianapolis-based real estate investment trust on Thursday posted revenue of $89.1 million in the period, up from $87.1 million last year.
Kite Realty Group Trust has built an admirable record of picking winning locations for its centers and keeping them vibrant with tens of millions of dollars in upgrades.
Kite Realty Group Trust lost money in the second quarter but beat analyst expectations when it came to revenue and funds from operations.
The Indianapolis-based company spent $2.8 million in the second quarter on a potential purchase it ultimately decided not to pursue.