![]() ![]() Net income attributable to common shareholders for the three months ended June 30, 2017, was $10.2 million, compared to a net loss of $1.9 million for the same period in 2016. Overall, I’m very happy with our performance this quarter and am optimistic that we will keep making progress towards our strategic goals. Our small-shop leasing rate now stands at 89.2% - just shy of our stated 90% goal. As an example, the vast majority of the 42 tenants we opened last quarter either provide services, are restaurants, or otherwise operate experiential businesses. “During the second quarter, we maintained our leasing momentum and further progressed in our efforts to diversify our tenant base. ![]() “We are now half way through 2017, and we continue to excel from an operational perspective,” said John Kite, Chief Executive Officer. ![]() The development at Parkside Town Commons, Phase II, was transitioned to the operating portfolio during the quarter at 95.4% leased.Three of the Company’s 3-R projects were completed during the second quarter with costs totaling $6.2 million and a projected combined annualized return of 19.5%.Three operating properties were sold, generating gross proceeds of $54.6 million and year-to-date gross proceeds of $77.7 million.The aggregate cash rent spread on comparable new and renewal leases was 9.8%.Small shop leased percentage increased 90 basis points to 89.2% from the same period in the prior year.Same-property Net Operating Income (“NOI”) increased 3.2% for the comparable operating portfolio, or 3.8% excluding the impact of the Company’s Redevelopment, Repurpose and Reposition (“3-R”) initiative, in each case compared to the same period in the prior year.Funds From Operations of the Operating Partnership (“FFO”), as defined by NAREIT, was $46.2 million, or $0.54 per diluted share.Net income attributable to common shareholders was $10.2 million, or $0.12 per diluted common share.Financial statements, exhibits, and reconciliations of non-GAAP measures attached to this release include the details of the Company’s results. INDIANAPOLIS, J(GLOBE NEWSWIRE) - Kite Realty Group Trust (NYSE:KRG) (the “Company”) announced today its operating results for the second quarter ended June 30, 2017. ![]()
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