Kite Realty Group Trust closed sales of eight large‑format power and community centers for $429 million and sold Paradise Valley Marketplace in Phoenix for $45 million, generating $474 million in disposition proceeds. The eight centers, located across the Sun Belt, were identified as lower‑growth assets due to high vacancy rates and aging infrastructure, while Paradise Valley Marketplace was a 66 % leased grocery‑anchored property that had recently reached full occupancy after a new tenant signed a long‑term lease.
Continue reading for full analysis...