The $200 million headquarters development plan by Indianapolis-based Republic Airways Holdings Inc. and Kite Realty Group Trust would result in Republic becoming the largest employer in Carmel.
Kite Realty upgrades outlook after strong second quarter
Indianapolis-based Kite Realty Group Trust this week upgraded its outlook for the rest of 2021 after beating industry expectations with its second-quarter financial performance.Read More
Big acquisition gives Kite Realty Group new markets, more clout for future growth
But the real estate investment trust might also face pushback from investors, largely because the acquisition follows five years of offloading dozens of debt-heavy properties.Read More
Glendale continues to evolve with outlots for lease, cosmetic changes, new Culver’s
The owner of Glendale Town Center plans to market three new outlots as part of an ongoing renovation to the property that includes the addition of new tenants to backfill the former Macy’s space.Read More
Kite Realty reports better-than-expected 4Q results
Indianapolis-based Kite Realty Group Trust beat analyst expectations with its financial performance in the fourth quarter despite a decline in revenue and funds from operations.Read More
The combination of Indianapolis-based Kite Realty Group Trust and Oak Brook, Illinois-based Retail Properties of America Inc. will create a company worth $7.5 billion that will continue to operate under the Kite name.
Retailer Old Navy will make a comeback at Glendale Town Center after a 15-year absence from the shopping center.
Two growing national retail brands have filed permits with the state for construction on spaces at the shopping center at North Keystone Avenue and 62nd Street.
The Indianapolis-based real estate investment trust reported $65.1 million in revenue for its third quarter—an uptick of about $2 million from the previous quarter, but a drastic drop from the $75 million earned during the same period in 2019.
The Indianapolis City-County Council on Monday night voted unanimously to issue up to $155 million in bonds to pay for an expansion of the Indiana Convention Center at Pan Am Plaza.
Overall attendance at Indiana Convention Center events has stagnated, but annual major conventions have seen explosive growth.
The full City-County Council is expected to vote on the proposals next month. After that, the financing will need to be approved by both the Metropolitan Development Commission and the Indianapolis Bond Bank.
The operators of the Pavilion at Pan Am Plaza event center are considering building a $15 million venue in downtown Indianapolis to replace the one Kite Realty Group plans to turn into rubble as part of its massive redevelopment of the plaza.
Kite Realty Trust collected 80% of base rent from tenants in the second quarter despite the pandemic. That percentage jumped to 87% in July.
A third of planned downtown hotel rooms announced before the pandemic are now on hold.
The $300 million hotel will be the most expensive and elaborate new lodging project built in the city since the $450 million JW Marriott complex was completed in 2011. And it will compete directly with the JW.
The city will not subsidize construction of Kite’s two hotels on the site but will ask the City-County Council to authorize a $150 million bond to finance an addition to the Indiana Convention Center.
The project, expected to cost as much as $550 million to construct, has been in the works for years as Kite and the city worked to reach an agreement.
In both of the suits, Indianapolis-based Kite claims that the retail tenants are in default on their leases because they didn’t pay rent in April, May or June.
A proposal to issue economic development tax increment revenue bonds for Kite is slated to be voted on by the City-County Council’s Metropolitan and Economic Development Committee on Monday.
Heath Fear has guided the company to surer financial footing, largely by orchestrating the sell-off of two-dozen less properties to free up cash for future investments.
The loan program, geared toward Kite tenants that operate fewer than five retail locations, will accept applications beginning Friday. Industry experts say many mall tenants weren’t able to pay April rent.
Firms across the country from a broad range of industries will be taking a hard look at their dividends in the coming weeks, as the pandemic forces businesses to focus on conserving cash.
The Indianapolis-based real estate investment trust beat Wall Street predictions in two key financial categories in the fourth quarter.