The merger will generate immediate earnings accretion and will drive further long-term value to our shareholders. 'The resulting open-air portfolio has a productive mix of properties predominantly located in high-growth warmer and cheaper markets, while also increasing our presence in strategic gateway markets. 'We are thrilled to announce the successful completion of the transformational merger with RPAI, creating a top 5 open-air shopping center REIT' said John A. The combined company will continue to be led by KRG Chairman and CEO John A. The merger is not only expected to be immediately FFO and NAV accretive, but the combined company has additional opportunities to further increase shareholder value including optimizing NOI margins, leasing of pandemic-related vacancy, lowering the company's cost of capital, and completing select developments. The merger serves to more than double KRG's presence in high-growth warmer and cheaper markets, while also introducing and enhancing KRG's presence in strategic gateway markets.

The combined high-quality, open-air portfolio is a mixture of predominantly necessity-based, grocery-anchored neighborhood and community centers, combined with vibrant mixed-use assets.

(NYSE: RPAI), a first-class owner and operator of high-quality open-air and mixed-use shopping centers, whereby RPAI merged into a subsidiary of KRG, with KRG continuing as the surviving public company. Indianapolis, IN, OctoKite Realty Group Trust (NYSE: KRG), a premier owner and operator of high-quality open-air, grocery-anchored shopping centers, announced today the completion of its previously announced merger with Retail Properties of America, Inc. Kite Realty Group Announces Closing of $7.5 Billion MergerĬreates a Top 5 Open-Air, Grocery-Anchored Shopping Center REIT

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