Kite Realty Group Completes Sale of City Center
Kite Realty Group (NYSE: KRG) completed the sale of City Center, a multi-level mixed-use asset in White Plains, New York, for $50 million in gross proceeds.
Sentiment and the balance of points
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Rhea-AI Summary
Kite Realty Group (NYSE: KRG) completed the sale of City Center, a multi-level mixed-use asset in White Plains, New York, for $50 million in gross proceeds.
The disposition aligns with KRG’s stated capital recycling objectives. The company plans to share further details on proceeds usage and remaining 2026 capital allocation during its next earnings call.
Positive
- Completed sale of City Center for $50 million gross proceeds
- Transaction advances KRG’s stated capital recycling objectives
- Plans to outline 2026 capital allocation and use of proceeds on next earnings call
Negative
- None.
Details
News Market Reaction – KRG
On Jun 29, the first trading day after this news, KRG closed 1.13% below the previous close.
Data tracked by StockTitan Argus for the Jun 29 session.
Key Figures
- Asset sale proceeds
- $50 million
- Gross proceeds from sale of City Center in White Plains, NY
- Recent acquisitions
- $136 million
- Strategic acquisitions disclosed June 16, 2026
- Recent dispositions
- $255 million
- Strategic asset dispositions disclosed June 16, 2026
- Net income
- $11.4M
- Q1 2026 net income attributable to common shareholders
- Core FFO
- $109.1M
- Q1 2026 Core FFO of the Operating Partnership
- Same Property NOI growth
- 3.6%
- Q1 2026 year-over-year Same Property NOI increase
- Portfolio leased percentage
- 94.7%
- Portfolio leased rate as of Q1 2026
- 2026 FFO guidance
- $2.06–$2.12
- 2026 NAREIT/Core FFO per diluted share guidance affirmed
Historical Context
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Announced $136M acquisitions, $255M dispositions, and expanded share repurchase program.
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Reported Q1 2026 results with NOI growth and affirmed full-year FFO guidance.
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Announced senior leadership appointments to strengthen asset management and technology.
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Scheduled Q1 2026 earnings release and conference call details.
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Promoted Heath R. Fear to President and CFO overseeing financial strategy.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
capital recycling financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
INDIANAPOLIS, June 26, 2026 (GLOBE NEWSWIRE) -- Kite Realty Group (NYSE: KRG), a premier owner and operator of high-quality, open-air grocery-anchored centers and vibrant mixed-use assets, today announced the completion of the sale of City Center, a multi-level mixed-use asset in White Plains, New York, for gross proceeds of
The disposition represents continued progress against KRG’s capital recycling objectives, consistent with the commentary provided on the Company's most recent earnings call.
KRG intends to provide additional detail on the use of the sale proceeds and its remaining 2026 capital allocation activity during its next earnings call.
About Kite Realty Group
Kite Realty Group (NYSE: KRG) is a real estate investment trust (REIT) that owns and operates a high-quality portfolio of open-air shopping centers and mixed-use destinations. The Company's portfolio is concentrated in high-growth Sun Belt and select strategic gateway markets. Publicly listed since 2004, KRG brings more than six decades of experience in developing, operating, and investing in real estate, using a disciplined, hands-on approach to enhance portfolio quality and maximize long-term value for all stakeholders. As of March 31, 2026, the Company owned interests in 169 U.S. open-air shopping centers and mixed-use assets, comprising approximately 27.3 million square feet of gross leasable area. For more information, please visit kiterealty.com.
Contact Information:
Kite Realty Group
Tyler Henshaw
SVP, Capital Markets & Investor Relations
317.713.7780
thenshaw@kiterealty.com
FAQ
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