KITE REALTY GROUP TRUST AND INLAND DIVERSIFIED REAL ESTATE TRUST, INC. COMPLETE MERGER VALUED AT $2.1 BILLION
A message from our Chairman and CEO – John A. Kite
“We are extremely excited to close the merger with Inland Diversified, which represents a transformative event in the history of our company. This transaction creates a $4 billion company and provides a number of significant financial
and operational benefits. We expect to realize numerous financial benefits from the merger, including a substantial increase in cash flow and liquidity, a lower cost of capital, and a strengthened balance sheet. Operational opportunities include improved synergies from an expanded platform and the leveraging of Inland Diversified’s high-quality portfolio with strong demographic profiles in dynamic new markets. This will provide profitable redevelopment opportunities and the ability to enhance our relationships with national, regional, and local tenants. I want to thank the management and boards of Kite Realty and Inland Diversified for their tireless efforts during this process. Without the commitment and focus of both teams, we would not have been able to enjoy such a successful combination.”
Vision Drives Us. Passion Defines Us.
It is the mission of Kite Realty Group to own and operate quality retail destinations that offer the best possible selection of stores and restaurants in aesthetically pleasing and inviting shopping centers. This is accomplished through the acquisition, development and redevelopment of high quality assets in the communities we serve.
We will continue to be known in our industry as leaders and innovators of maximizing value and improving our assets – further building long-term value, sustainability and satisfied stakeholders including: shoppers, communities, retailers, shareholders and KRG team members.
By retaining and recruiting the best in class people, our dedicated and passionate team strives to provide quality customer service through honesty, transparency, decency and fairness; driving the success of our company and its future.