8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 4, 2011

KITE REALTY GROUP TRUST

(Exact name of registrant as specified in its charter)

Maryland	1-32268	11-3715772
(State or other jurisdiction	(Commission	(IRS Employer
of incorporation)	File Number)	Identification Number)
30 S. Meridian Street
Suite 1100
Indianapolis, IN		46204
(Address of principal executive offices)		(Zip Code)
(317) 577-5600
(Registrant’s telephone number, including area code)
Not applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02. Results of Operations and Financial Condition.

 On August 4, 2011, Kite Realty Group Trust (the “Company”) announced its consolidated financial results for the quarter ended June 30, 2011.  A copy of the Company’s press release is furnished as Exhibit 99.1 to this current report on Form 8-K.  A copy of the Company’s Second Quarter 2011 Supplemental Disclosure is furnished as Exhibit 99.2 to this current report on Form 8-K.  The information contained in Item 2.02 of this current report on Form 8-K, including Exhibits 99.1 and 99.2, shall not be deemed “filed” with the Securities and Exchange Commission nor incorporated by reference in any registration statement filed by the Company under the Securities Act of 1933, as amended.

Item 9.01. Financial Statements and Exhibits.

(a) Not applicable.

(b) Not applicable.

(c) Not applicable.

(d) Exhibits.

Exhibit No.	Description
99.1	Kite Realty Group Trust Press Release dated August 4, 2011
99.2	Kite Realty Group Trust Second Quarter 2011 Supplemental Disclosure

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	KITE REALTY GROUP TRUST
Date: August 4, 2011	By:	/s/ Daniel R. Sink
		Daniel R. Sink
		Executive Vice President,
		Chief Financial Officer and Treasurer

EXHIBIT INDEX

Exhibit	Document
99.1	Kite Realty Group Trust Press Release dated August 4, 2011
99.2	Kite Realty Group Trust Second Quarter 2011 Supplemental Disclosure

EX-99.1

EXHIBT 99.1

 PRESS RELEASE  

Contact Information:   Kite Realty Group Trust     Dan Sink, Chief Financial Officer     (317) 577-5609     dsink@kiterealty.com Investors/Media: David Buell Manager, Financial Reporting (317) 713-5647 dbuell@kiterealty.com

Kite Realty Group Trust Reports

Second Quarter 2011 Results

Highlights

·   Funds From Operations was $0.12 per diluted common share for the second quarter of 2011.

·   Same Property Net Operating Income increased 3.0%.

·   40 new and renewal leases for 281,200 square feet were executed during the quarter for aggregate cash rent spreads of 3.2%.

·   Small shop leasing percentage improved year over year to 80.6% from 75.9%, partially driving an increase in the operating retail portfolio leased percentage to 93.0% from 91.0%.

·   Acquired Lithia Crossing in Tampa, Florida for $13.3 million in an off-market transaction

·   Delray Marketplace in Delray Beach, Florida transitioned to an in-process development project.

·   Signed 99,000 square feet of national junior anchor leases at our New Hill Place development in Holly Springs, North Carolina.

·   Subsequent to the end of the quarter, the Company closed on $82 million of non-recourse, secured loans on six properties with a 10-year term at an interest rate of 5.44%.

Indianapolis, Ind., August 4, 2011 – Kite Realty Group Trust (NYSE: KRG) (the “Company”) today announced results for its second quarter ended June 30, 2011.  Financial statements and exhibits attached to this release include results for the three and six months ended June 30, 2011 and 2010.

Financial and Operating Results

For the three months ended June 30, 2011, funds from operations (FFO), a widely accepted supplemental measure of REIT performance established by the National Association of Real Estate Investment Trusts, was $8.4 million, or $0.12 per diluted share, for the Kite Portfolio compared to $7.5 million, or $0.11 per diluted share, for the same period in the prior year.  The Company’s allocable share of FFO was $7.5 million for the three months ended June 30, 2011 compared to $6.7 million for the same period in 2010.

For the six months ended June 30, 2011, FFO was $15.3 million, or $0.21 per diluted share, for the Kite Portfolio compared to $14.6 million, or $0.21 per diluted share, for the same period in the prior year.  The Company’s allocable share of FFO was $13.6 million for the six months ended June 30, 2011 compared to $13.0 million for the same period in 2010.

Given the nature of the Company’s business as a real estate owner and operator, the Company believes that FFO is helpful to investors when measuring operating performance because it excludes various items included in net income that do not relate to or are not indicative of operating performance, such as gains or losses from sales of operating properties, and depreciation and amortization, which can make periodic and peer analyses of operating performance more difficult. The Company believes presenting FFO in this manner allows investors and other interested parties to form a more meaningful assessment of the Company’s operating results.  A reconciliation of net income to FFO is included in the attached table.

Net loss attributable to Kite Realty Group Trust was $1.1 million for the second quarter of 2011 compared to a net loss in the prior year of $4.0 million.  This change is primarily attributable to a decrease of $2.3 million in depreciation and amortization expense due to accelerated depreciation taken in the prior year on certain redevelopment properties. The Company’s total revenue for the second quarter of 2011 was $25.3 million, an increase from $24.8 million for the same period in 2010.  This increase is due to an improvement in revenue from property operations of $2.4 million as a result of improved occupancy levels, current year acquisitions and a lease termination fee partially offset by a planned decline in construction volume of $1.9 million.

Net loss attributable to Kite Realty Group Trust was $3.2 million for the first six months of 2011 compared to a net loss in the prior year of $5.1 million.  This change is primarily attributable to a decrease of $1.6 million in depreciation and amortization expense due to accelerated depreciation taken in the prior year on certain redevelopment properties.  The Company’s total revenue for the first six months of 2011 was $49.8 million, down from $50.4 million for the same period in 2010.  This decrease reflects a planned decline in construction volume of $3.7 million.  These decreases were partially offset by an improvement in revenue from property operations of $3.2 million due to improved occupancy levels, current year acquisitions and a lease termination fee.

John A. Kite, Kite Realty Group’s Chairman and Chief Executive Officer, said "We continued our positive trends in operating performance this quarter.  The same property NOI increased to 3.0% from 1.0% in the first quarter and the retail portfolio increased to 93% leased.  We are also making solid progress on the balance sheet with the line of credit renewal for three years and the securing of long-term property level debt at attractive interest rates.  In addition, Delray Marketplace is now in-process and we plan to deliver at the end of 2012."

Operating Portfolio

As of June 30, 2011, the Company owned interests in 53 retail operating properties totaling approximately 8.0 million square feet.  The owned gross leasable area (“GLA”) in the Company’s retail operating portfolio was 93.0% leased as of June 30, 2011, compared to 92.3% leased as of the end of the prior quarter.  This improvement was driven by an increase in the small shop leased percentage to 80.6% as of June 30, 2011, compared to 78.2% at the end of the prior quarter.

In addition, the Company owns four operating commercial properties totaling 580,800 square feet.  As of June 30, 2011, the owned net rentable area of the commercial operating portfolio was 93.3% leased, compared to 92.0% at the end of the prior quarter.  The combined retail and commercial operating portfolio leased percentage was 93.1% as of June 30, 2011, compared to 92.3% as of the end of the prior quarter.

On a same property basis, the leased percentage of 54 same store operating properties increased 1.4% to 93.0% at June 30, 2011 from 91.6% at June 30, 2010.  Same property net operating income (“NOI”) for these properties increased 3.0% in the second quarter of 2011 compared to the same period in the prior year.

Leasing Activities

During the second quarter of 2011, the Company executed 40 new and renewal leases totaling approximately 281,200 square feet with aggregate cash rent spreads of 3.2%.  New leases were signed with 19 tenants for approximately 166,900 square feet of GLA.  These leases represent a 3.6% positive cash rent spread.  A total of 21 leases for 114,300 square feet were renewed during the quarter for a 2.8% positive cash rent spread.

The Company executed four new national junior anchor leases during the quarter totaling 99,000 square feet to anchor our New Hill Place future development in Holly Springs, North Carolina (Raleigh, North Carolina MSA).

Development and Acquisition Activities

The Company transitioned the Delray Marketplace project in Delray Beach, Florida to an in-process development with the commencement of construction.  The Company has 20 executed leases at this property, which include anchors Publix and Frank Theatres, and the property is 62.5% pre-leased or committed.  These leases include tenants such as Apricot Lane, Bobby Chan, Charming Charlie, Chico’s, JoS. A. Bank, Max’s Grille, and White House | Black Market.   The total estimated costs of this project are expected to be $95 million, with opening scheduled for the fourth quarter of 2012.  The Company intends to commence vertical construction upon finalizing construction financing.

As of June 30, 2011, in addition to the Delray Marketplace project, the Company owned interests in four in-process development/redevelopment projects that are expected to total 453,300 owned square feet upon completion.  The total estimated cost of these projects is approximately $94.7 million, of which $68.8million had been incurred as of June 30, 2011.

In June, the Company acquired Lithia Crossing, an 81,000 square foot unencumbered neighborhood shopping center in Tampa, Florida.  Lithia Crossing is 95.6% leased, anchored by Stein Mart and features a diverse lineup of national, regional, and local tenants such as Cold Stone Creamery, Panera Bread and Starbucks.  The purchase price, exclusive of closing costs, was $13.3 million reflecting an initial 8% cap rate.

Financing Activities

During the second quarter and through the date of this release, the Company completed the following financing activities:

·   Entered into an amended and restated three-year $200 million unsecured revolving credit facility with a one-year extension option.  Terms of the agreement include pricing at LIBOR plus 225 to 325 basis points, depending on the Company’s leverage, and an expansion feature allowing up to $300 million of total borrowing capacity, subject to certain conditions.

·   Increased the borrowing capacity on the construction loan on its South Elgin Commons developoment from $9.4 million to $16.5 million and removed the LIBOR floor of 2.00%.  The loan has a maturity date of September 30, 2013 and carries a variable interest rate of LIBOR plus 325 basis points.

·   Closed on an extension of the $4.7 million loan secured by our Delray Marketplace in-process development that was scheduled to mature in June 2011.The new maturity date on the loan is January 2012.  The Company intends to refinance this loan with a longer-term construction loan.

·   Closed on a three-year $3.7 million loan secured by the Fishers Station property to replace the loan that matured in June 2011

·   In August, secured $82 million of nonrecourse loan proceeds on the following properties at a fixed interest rate of 5.44%:  Eddy Street Commons, Bayport Commons, Hamilton Crossing, Boulevard Crossing, Publix at Acworth, and Naperville Marketplace.  The net proceeds of these loans were utilized to pay down the variable rate loans on Bayport Commons, Eddy Street Commons, Glendale Town Center, and the remainder was initially used to pay down the Company’s line of credit.

After completing the above transactions, the Company has reduced its 2011 debt maturities to $20.5 million.

Distributions

On June 17, 2011, the Board of Trustees declared a quarterly common share cash distribution of $0.06 per common share for the quarter ended June 30, 2011 payable to shareholders of record as of July 7, 2011.  This distribution was paid on July 14, 2011.  The Board of Trustees anticipates declaring a quarterly cash distribution for the quarter ending September 30, 2011 later in the third quarter.

On August 4, 2011, the Board of Trustees declared a quarterly preferred share cash distribution of $0.515625 per preferred share covering the distribution period from June 2, 2011 to September 1, 2011 payable to shareholders of record as of August 18, 2011.  This distribution will be paid on September 1, 2011.

FFO Guidance

The Company is reaffirming its FFO guidance for the year ending December 31, 2011 in a range of $0.40 to $0.45 per diluted share.  Following is a reconciliation of estimated net loss per common share to estimated diluted FFO per share:

Guidance Range for 2011	Low	High
Net loss per diluted share	$(0.06)	$(0.01)
Depreciation and amortization	0.46	0.46
FFO per diluted share	$ 0.40	$ 0.45

Earnings Conference Call

The Company will conduct a conference call to discuss its financial results on Friday, August 5th at 9:00 a.m. eastern time.  A live webcast of the conference call will be available online on the Company’s website at www.kiterealty.com.  The dial-in numbers are (866) 700-6979 for domestic callers and (617) 213-8836 for international callers (passcode 14142685).  In addition, a telephonic replay of the call will be available until November 12, 2011.  The replay dial-in telephone numbers are (888) 286-8010 for domestic callers and (617) 801-6888 for international callers (passcode 46076491).

About Kite Realty Group Trust

Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust engaged in the ownership, operation, management, leasing, acquisition, construction, redevelopment and development of neighborhood and community shopping centers in selected markets in the United States.  At June 30, 2011, the Company owned interests in a portfolio of 63 operating and redevelopment properties totaling approximately 9.2 million square feet and an additional three properties currently under development totaling 0.5 million square feet.

Safe Harbor

This press release contains certain statements that are not historical fact and may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results of the Company to differ materially from historical results or from any results expressed or implied by such forward-looking statements, including, without limitation: national and local economic, business, real estate and other market conditions, particularly in light of the recent recession; financing risks, including the availability of and costs associated with sources of liquidity; the Company’s ability to refinance, or extend the maturity dates of, its indebtedness; the level and volatility of interest rates; the financial stability of tenants, including their ability to pay rent and the risk of tenant bankruptcies; the competitive environment in which the Company operates; acquisition, disposition, development and joint venture risks; property ownership and management risks; the Company’s ability to maintain its status as a real estate investment trust (“REIT”) for federal income tax purposes; potential environmental and other liabilities; impairment in the value of real estate property the Company owns; risks related to the geographical concentration of our properties in Indiana, Florida and Texas; and other factors affecting the real estate industry generally.  The Company refers you the documents filed by the Company from time to time with the Securities and Exchange Commission, specifically the section titled “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2010, which discuss these and other factors that could adversely affect the Company’s results.  The Company undertakes no obligation to publicly update or revise these forward-looking statements (including the FFO and net income estimates), whether as a result of new information, future events or otherwise.

Kite Realty Group Trust

Consolidated Balance Sheets

(Unaudited)

	June 30, 2011			December 31, 2010
Assets:
Investment properties, at cost:
Land	$	235,226,401		$	228,707,073
Land held for development		27,386,474			27,384,631
Buildings and improvements		811,185,092			780,038,034
Furniture, equipment and other		5,316,669			5,166,303
Construction in progress		162,662,779			158,636,747
		1,241,777,415			1,199,932,788
Less: accumulated depreciation		(166,116,130	)		(152,083,936	)
		1,075,661,285			1,047,848,852
Cash and cash equivalents		7,592,584			15,394,528
Tenant receivables, including accrued straight-line rent of $10,124,407 and $9,113,712, respectively, net of allowance for uncollectible accounts		18,063,651			18,204,215
Other receivables		3,681,024			5,484,277
Investments in unconsolidated entities, at equity		16,747,528			11,193,113
Escrow deposits		12,286,429			8,793,968
Deferred costs, net		28,575,072			24,207,046
Prepaid and other assets		2,034,874			1,656,746
Total Assets	$	1,164,642,447		$	1,132,782,745
Liabilities and Equity:
Mortgage and other indebtedness	$	654,342,842		$	610,926,613
Accounts payable and accrued expenses		35,736,196			32,362,917
Deferred revenue and other liabilities		13,368,544			15,399,002
Total Liabilities		703,447,582			658,688,532
Commitments and contingencies
Redeemable noncontrolling interests in the Operating Partnership		43,144,118			44,115,028
Equity:
Kite Realty Group Trust Shareholders’ Equity:
Preferred Shares, $.01 par value, 40,000,000 shares authorized, 2,800,000 shares issued and outstanding at June 30, 2011 and December 31, 2010, respectively		70,000,000			70,000,000
Common Shares, $.01 par value, 200,000,000 shares authorized 63,576,651 shares and 63,342,219 shares issued and outstanding at June 30, 2011 and  December 31, 2010, respectively		635,767			633,422
Additional paid in capital		448,792,206			448,779,180
Accumulated other comprehensive loss		(1,371,962	)		(2,900,100	)
Accumulated deficit		(104,284,327	)		(93,447,581	)
Total Kite Realty Group Trust Shareholders’ Equity		413,771,684			423,064,921
Noncontrolling Interests		4,279,063			6,914,264
Total Equity		418,050,747			429,979,185
Total Liabilities and Equity	$	1,164,642,447		$	1,132,782,745

Kite Realty Group Trust

Consolidated Statements of Operations

For the Three and Six Months Ended June 30, 2011 and 2010

(Unaudited)

	Three Months Ended June 30,						Six Months Ended June 30,
	2011			2010			2011			2010
Revenue:
Minimum rent	$	18,974,092		$	17,741,385		$	37,341,334		$	35,476,596
Tenant reimbursements		4,866,020			4,259,847			10,045,231			9,101,108
Other property related revenue		1,414,061			849,036			2,302,593			1,948,848
Construction and service fee revenue		76,483			1,950,848			86,520			3,830,198
Total revenue		25,330,656			24,801,116			49,775,678			50,356,750
Expenses:
Property operating		4,541,865			3,733,851			9,451,877			8,308,203
Real estate taxes		3,639,368			3,163,086			6,952,312			6,539,400
Cost of construction and services		114,254			1,637,383			164,167			3,395,701
General, administrative, and other		1,413,918			1,254,792			3,262,370			2,630,762
Depreciation and amortization		9,893,224			12,165,390			19,070,097			20,710,245
Total expenses		19,602,629			21,954,502			38,900,823			41,584,311
Operating income		5,728,027			2,846,614			10,874,855			8,772,439
Interest expense		(5,840,521	)		(7,237,738	)		(11,742,146	)		(14,334,601	)
Income tax benefit/(expense) of taxable REIT subsidiary		30,760			(127,264	)		46,833			(153,100	)
Income/(loss) from unconsolidated entities		92,220			(98,595	)		4,595			(98,595	)
Other income		93,582			66,810			142,620			132,560
Consolidated net income/(loss)		104,068			(4,550,173	)		(673,243	)		(5,681,297	)
Net loss attributable to noncontrolling interests		282,545			529,618			353,039			586,062
Net income (loss) attributable to Kite Realty Group      Trust		386,613			(4,020,555	)		(320,204	)		(5,095,235	)
Dividends on preferred shares		(1,443,750	)		—			(2,887,500	)		—
Net loss attributable to common shareholders	$	(1,057,137	)	$	(4,020,555	)	$	(3,207,704	)	$	(5,095,235	)
Net loss income per common share attributable to Kite Realty Group Trust common shareholders – basic and diluted	$	(0.02	)	$	(0.06	)	$	(0.05	)	$	(0.08	)
Weighted average common shares outstanding – basic and diluted		63,567,964			63,209,194			63,508,337			63,165,588
Dividends declared per common share	$	0.0600		$	0.0600		$	0.1200		$	0.1200

Kite Realty Group Trust

Funds From Operations

For the Three and Six Months Ended June 30, 2011 and 2010

(Unaudited)

	Three Months Ended June 30,						Six Months Ended June 30,
	2011			2010			2011			2010
Consolidated net income / (loss)	$	104,068		$	(4,550,173	)	$	(673,243	)	$	(5,681,297	)
Less dividends on preferred shares		(1,443,750	)		—			(2,887,500	)		—
Less net (loss) income attributable to noncontrolling interests in properties		(25,189	)		24,563			(41,775	)		(54,526	)
Add depreciation and amortization of consolidated entities, net of noncontrolling interests		9,755,149			12,004,739			18,769,535			20,327,252
Add depreciation and amortization of unconsolidated entities		13,867			41,359			97,067			41,359
Funds From Operations of the Kite Portfolio1		8,404,145			7,520,488			15,264,084			14,632,788
Less redeemable noncontrolling interests in Funds From Operations		(916,052	)		(842,294	)		(1,670,645	)		(1,638,872	)
Funds From Operations allocable to the Company1	$	7,488,093		$	6,678,194		$	13,593,439		$	12,993,916
Basic and Diluted FFO per share of the Kite Portfolio	$	0.12		$	0.11		$	0.21		$	0.21
Basic weighted average Common Shares outstanding		63,567,964			63,209,194			63,508,337			63,165,588
Diluted weighted average Common Shares outstanding		63,856,717			63,476,111			63,805,935			63,396,648
Basic weighted average Common Shares and Units outstanding		71,419,121			71,178,077			71,361,752			71,137,042
Diluted weighted average Common Shares and Units outstanding		71,707,874			71,444,993			71,659,350			71,368,102

____________________
1	“Funds From Operations of the Operating Partnership” measures 100% of the operating performance of the Operating Partnership’s real estate properties and construction and service subsidiaries in which the Company owns an interest. “Funds From Operations allocable to the Company” reflects a reduction for the redeemable noncontrolling weighted average diluted interest in the Operating Partnership.

Kite Realty Group Trust

Same Property Net Operating Income

For the Three and Six Months Ended June 30, 2011 and 2010

(Unaudited)

	Three Months Ended June 30,								Six Months Ended June 30,
	2011			2010			% Change		2011			2010			% Change
Number of properties at period end1		54			54					54			54
Leased percentage at period-end		93.0%			91.6%					93.0%			91.6%
Minimum rent	$	16,624,349		$	16,167,069				$	33,036,418		$	32,555,283
Tenant recoveries		4,031,858			3,926,694					8,545,462			8,469,540
Other income		43,890			36,367					148,162			101,359
		20,700,097			20,130,130					41,730,042			41,126,182
Property operating expenses		3,756,168			3,548,799					8,287,578			7,906,576
Real estate taxes		2,814,133			2,866,203					5,576,294			5,904,971
		6,570,301			6,415,002					13,863,872			13,811,547
Net operating income – same properties (54 properties)2		14,129,796			13,715,128		3.0	%		27,866,170			27,314,635		2.0	%
Reconciliation to Most Directly Comparable GAAP Measure:
Net operating income – same properties	$	14,129,796		$	13,715,128				$	27,866,170		$	27,314,635
Other income (expense), net		(13,743,183	)		(17,735,683	)				(28,186,374	)		(32,409,870	)
Dividends on preferred shares		(1,443,750	)		—					(2,887,500	)		—
Net loss attributable to common shareholders	$	(1,057,137	)	$	(4,020,555	)			$	(3,207,704	)	$	(5,095,235	)

____________________
1	Same Property analysis excludes Courthouse Shadows, Four Corner Square, Rivers Edge, The Centre and Bolton Plaza properties as the Company pursues redevelopment of these properties.
2	Same Property net operating income is considered a non-GAAP measure because it excludes net gains from outlot sales, write offs of straight-line rent and lease intangibles, bad debt expense and related recoveries, lease termination fees and significant prior year expense recoveries and adjustments and other significant non-recurring revenues and expenses, if any.

The Company believes that Net Operating Income (“NOI”) is helpful to investors as a measure of its operating performance because it excludes various items included in net income that do not relate to or are not indicative of its operating performance, such as depreciation and amortization, interest expense, and impairment, if any.  The Company believes that Same Property NOI is helpful to investors as a measure of its operating performance because it includes only the NOI of properties that have been owned for the full period presented, which eliminates disparities in net income due to the redevelopment, acquisition or disposition of properties during the particular period presented, and thus provides a more consistent metric for the comparison of the Company's properties.  Same Property NOI should not, however, be considered as alternatives to net income (calculated in accordance with GAAP) as indicators of the Company's financial performance.

EX-99.2

EXHIBIT 99.2

 QUARTERLY FINANCIAL SUPPLEMENT 2011  

KITE REALTY GROUP TRUST

JUNE 30, 2011

INVESTOR RELATIONS CONTACTS:

Dan Sink, Chief Financial Officer

Dave Buell, Financial Reporting Manager

30 S. MERIDIAN STREET • INDIANAPOLIS, INDIANA 46204 • 317.577.5600

SUPPLEMENTAL INFORMATION – JUNE 30, 2011

PAGE NO.	TABLE OF CONTENTS
3	Corporate Profile
4	Contact Information
5	Important Notes
6	Corporate Structure Chart
7	Consolidated Balance Sheets
8	Consolidated Statements of Operations for the Three and Six Months Ended June 30
9	Funds from Operations and Other Financial Information for the Three and Six Months Ended June 30
10	Market Capitalization
10	Ratio of Debt to Total Undepreciated Assets as of June 30, 2011
11	Same Property Net Operating Income for the Three and Six Months Ended June 30
12	Net Operating Income by Quarter
13	Summary of Outstanding Debt as of June 30, 2011
14	Schedule of Outstanding Debt as of June 30, 2011
17	2011 Debt Maturities Update and Events Subsequent to June 30, 2011
18	Joint Venture Summary – Unconsolidated Properties
19	Condensed Combined Balance Sheets of Unconsolidated Properties
20	Condensed Combined Statements of Operations of Unconsolidated Properties for the Three and Six Months Ended June 30
21	Top 10 Retail Tenants by Gross Leasable Area
22	Top 25 Tenants by Annualized Base Rent
23	Lease Expirations – Operating Portfolio
24	Lease Expirations – Retail Anchor Tenants
25	Lease Expirations – Retail Shops
26	Lease Expirations – Commercial Tenants
27	Summary Retail Portfolio Statistics Including Joint Venture Properties
28	Summary Commercial Portfolio Statistics
29	In-Process Development / Redevelopment Projects
30	Future Development / Redevelopment Projects
31	Geographic Diversification – Operating Portfolio
32	Operating Retail Properties
36	Operating Commercial Properties
37	Retail Operating Portfolio – Tenant Breakdown

Kite Realty Group Trust Supplemental Financial and Operating Statistics –6/30/11

p. 2

CORPORATE PROFILE

General Description

Kite Realty Group Trust is a full-service, vertically integrated real estate company engaged primarily in the development, construction, acquisition, ownership and operation of high-quality neighborhood and community shopping centers in selected markets in the United States. We are organized as a real estate investment trust ("REIT") for federal income tax purposes. As of June 30, 2011, we owned interests in 63 properties totaling approximately 9.2 million square feet and an additional 0.5 million square feet in three properties currently under in-process development.

Our strategy is to maximize the cash flow of our operating properties, successfully complete the construction and lease-up of our development portfolio and identify additional growth opportunities in the form of new developments and acquisitions. New investments are focused in the shopping center sector, although we may selectively pursue commercial development or acquisition opportunities in markets where we currently operate and where we believe we can leverage existing infrastructure and relationships to generate attractive risk-adjusted returns.

Company Highlights as of June 30, 2011

·	Operating Retail Properties	53
·	Operating Commercial Properties	4
·	Total Properties Under Redevelopment	6
	Total Operating and Redevelopment Properties	63
·	Total Properties Under In-Process Development	3
·	States	9
·	Total GLA/NRA of 57 Operating Properties	8,607,453
·	Owned GLA/NRA of 57 Operating Properties	5,714,562
·	Projected Owned GLA of In-Process Development and Redevelopment Projects	706,640
·	Percentage of Owned GLA/NRA Leased – Total Portfolio	93.1%
·	Percentage of Owned GLA Leased – Retail Operating	93.0%
·	Percentage of Owned NRA Leased – Commercial Operating	93.3%
·	Total Full-Time Employees	73

Stock Listing:  New York Stock Exchange symbol: KRG

Kite Realty Group Trust Supplemental Financial and Operating Statistics –6/30/11

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CONTACT INFORMATION

Corporate Office

30 South Meridian Street, Suite 1100

Indianapolis, IN 46204

(888) 577-5600

(317) 577-5600

www.kiterealty.com

Investor Relations Contacts:	Analyst Coverage:	Analyst Coverage:
Dan Sink, Chief Financial Officer	BMO Capital Markets	Morgan Keegan
Kite Realty Group Trust	Mr. Paul E. Adornato, CFA	Mr. Steve Swett
30 South Meridian Street, Suite 1100	(212) 885-4170	(212) 508-7585
Indianapolis, IN 46204	paul.adornato@bmo.com	stephen.swett@morgankeegan.com
(317) 577-5609
dsink@kiterealty.com	Citigroup Global Markets	Raymond James
	Mr. Michael Bilerman/Mr. Quentin Velleley	Mr. Paul Puryear/Mr. R. J. Milligan
Dave Buell, Financial Reporting Manager	(212) 816-1383/(212) 816-6981	(727) 567-2253/(727) 567-2660
Kite Realty Group Trust	michael.bilerman@citigroup.com	paul.puryear@raymondjames.com
30 South Meridian Street, Suite 1100	Quentin.velleley@citi.com	Richard.milligan@raymondjames.com
Indianapolis, IN 46204
(317) 713-5647	Hilliard Lyons	RBC Capital Markets
dbuell@kiterealty.com	Ms. Carol L. Kemple	Mr. Rich Moore/Mr. Wes Golladay
	(502) 588-1839	(440) 715-2646/(440) 715-2650
Transfer Agent:	Ckemple@hilliard.com	rich.moore@rbccm.com
		wes.golladay@rbccm.com
Stocktrans, a Broadridge Company	Janney Montgomery Scott
Mr. Robert Winterle	Mr. Andrew T. Dizio, CFA	Stifel, Nicolaus & Company, Inc.
44 W. Ardmore Avenue	(215) 665-6439	Mr. Nathan Isbee
Ardmore, PA  19003	adizio@jmsonline.com	(443) 224-1346
(610) 649-7300		nisbee@stifel.com
	KeyBanc Capital Markets
Stock Specialist:	Mr. Jordan Sadler/Mr. Todd Thomas	Wells Fargo Securities, LLC
	(917) 368-2280/(917) 368-2286	Mr. Jeffrey J. Donnelly, CFA
Barclays Capital	tthomas@keybanccm.com	(617) 603-4262
45 Broadway	jsadler@keybanccm.com	jeff.donnelly@wachovia.com
20th Floor
New York, NY 10006
(646) 333-7000

 Kite Realty Group Trust Supplemental Financial and Operating Statistics –6/30/11

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IMPORTANT NOTES

Interim Information

This Quarterly Financial Supplement contains historical information of Kite Realty Group Trust (“the Company” or “KRG”) and is intended to supplement the Company’s Quarterly Report on Form 10-Q for the three and six months ended June 30, 2011 to be filed on or about August 9, 2011, which should be read in conjunction with this supplement. The supplemental information is unaudited, although it reflects all adjustments which, in the opinion of management, are necessary for a fair presentation of operating results for the interim periods.

Forward-Looking Statements

This supplemental information package contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements are based on assumptions and expectations that may not be realized and are inherently subject to risks, uncertainties and other factors, many of which cannot be predicted with accuracy and some of which might not even be anticipated. Future events and actual results, performance, transactions or achievements, financial or otherwise, may differ materially from the results, performance, transactions or achievements expressed or implied by the forward-looking statements. Risks, uncertainties and other factors that might cause such differences, some of which could be material, include, but are not limited to:

·   national and local economic, business, real estate and other market conditions, particularly in light of the current recession;

·   financing risks, including the availability of and costs associated with sources of liquidity;

·   the Company’s ability to refinance, or extend the maturity dates of, its indebtedness;

·   the level and volatility of interest rates;

·   the financial stability of tenants, including their ability to pay rent and the risk of tenant bankruptcies;

·   the competitive environment in which the Company operates;

·   acquisition, disposition, development and joint venture risks;

·   property ownership and management risks;

·   the Company’s ability to maintain its status as a real estate investment trust (“REIT”) for federal income tax purposes;

·   potential environmental and other liabilities;

·   impairment in the value of real estate property the Company owns;

·   risks related to the geographical concentration of our properties in Indiana, Florida and Texas;

·   other factors affecting the real estate industry generally; and

·   other risks identified in reports the Company files with the Securities and Exchange Commission (“the SEC”) or in other documents that it publicly disseminates, including, in particular, the section titled “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2010 and in our quarterly reports on Form 10-Q.

The Company undertakes no obligation to publicly update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.

Funds from Operations

Funds from Operations (FFO) is a widely used performance measure for real estate companies and is provided here as a supplemental measure of operating performance. We calculate FFO in accordance with the best practices described in the April 2002 National Policy Bulletin of the National Association of Real Estate Investment Trusts (NAREIT), which we refer to as the White Paper. The White Paper defines FFO as net income (determined in accordance with generally accepted accounting principles (GAAP)), excluding gains (or losses) from sales of depreciated property, plus depreciation and amortization, and after adjustments for unconsolidated partnerships and joint ventures.

Considering the nature of our business as a real estate owner and operator, we believe that FFO is helpful to investors in measuring our operational performance because it excludes various items included in net income that do not relate to or are not indicative of our operating performance, such as gains or losses from sales of depreciated property and depreciation and amortization, which can make periodic and peer analyses of operating performance more difficult. FFO should not be considered as an alternative to net income (determined in accordance with GAAP) as an indicator of our financial performance, is not an alternative to cash flow from operating activities (determined in accordance with GAAP) as a measure of our liquidity, and is not indicative of funds available to satisfy our cash needs, including our ability to make distributions. Our computation of FFO may not be comparable to FFO reported by other REITs that do not define the term in accordance with the current NAREIT definition or that interpret the current NAREIT definition differently than we do.

Net Operating Income

Net operating income (NOI) is provided here as a supplemental measure of operating performance. NOI is defined as property revenues less property operating expenses, excluding depreciation and amortization, interest expense, impairment, and other items. We believe this presentation of NOI is helpful to investors as a measure of our operational performance because it is widely used in the real estate industry to measure the performance of real estate assets without regard to various items, included in net income, that do not relate to or are not indicative of operating performance, such as depreciation and amortization, which can vary depending upon accounting methods and book value of assets. We also believe NOI helps our investors to meaningfully compare the results of our operating performance from period to period by removing the impact of our capital structure (primarily interest expense on our outstanding indebtedness) and depreciation of the basis in our assets from our operating results. NOI should not, however, be considered as an alternative to net income (determined in accordance with GAAP) as an indicator of our financial performance.

 Kite Realty Group Trust Supplemental Financial and Operating Statistics –6/30/11

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CORPORATE STRUCTURE CHART - JUNE 30, 2011

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CONSOLIDATED BALANCE SHEETS (UNAUDITED)

	June 30, 2011			December 31, 2010
Assets:
Investment properties, at cost:
Land	$	235,226,401		$	228,707,073
Land held for development		27,386,474			27,384,631
Buildings and improvements		811,185,092			780,038,034
Furniture, equipment and other		5,316,669			5,166,303
Construction in progress		162,662,779			158,636,747
		1,241,777,415			1,199,932,788
Less: accumulated depreciation		(166,116,130	)		(152,083,936	)
		1,075,661,285			1,047,848,852
Cash and cash equivalents		7,592,584			15,394,528
Tenant receivables, including accrued straight-line rent of $10,124,407 and $9,113,712, respectively, net of allowance for uncollectible accounts		18,063,651			18,204,215
Other receivables		3,681,024			5,484,277
Investments in unconsolidated entities, at equity		16,747,528			11,193,113
Escrow deposits		12,286,429			8,793,968
Deferred costs, net		28,575,072			24,207,046
Prepaid and other assets		2,034,874			1,656,746
Total Assets	$	1,164,642,447		$	1,132,782,745
Liabilities and Equity:
Mortgage and other indebtedness	$	654,342,842		$	610,926,613
Accounts payable and accrued expenses		35,736,196			32,362,917
Deferred revenue and other liabilities1		13,368,544			15,399,002
Total Liabilities		703,447,582			658,688,532
Commitments and contingencies
Redeemable noncontrolling interests in the Operating Partnership		43,144,118			44,115,028
Equity:
Kite Realty Group Trust Shareholders’ Equity:
Preferred Shares, $.01 par value, 40,000,000 shares authorized, 2,800,000 shares issued and outstanding at June 30, 2011 and December 31, 2010, respectively		70,000,000			70,000,000
Common Shares, $.01 par value, 200,000,000 shares authorized 63,576,651 shares and 63,342,219 shares issued and outstanding at June 30, 2011 and      December 31, 2010, respectively		635,767			633,422
Additional paid in capital		448,792,206			448,779,180
Accumulated other comprehensive loss		(1,371,962	)		(2,900,100	)
Accumulated deficit		(104,284,327	)		(93,447,581	)
Total Kite Realty Group Trust Shareholders’ Equity		413,771,684			423,064,921
Noncontrolling Interests		4,279,063			6,914,264
Total Equity		418,050,747			429,979,185
Total Liabilities and Equity	$	1,164,642,447		$	1,132,782,745

____________________
1	Includes $9,521,534 of deferred revenue related to mark to market lease accounting as of June 30, 2011.

Kite Realty Group Trust Supplemental Financial and Operating Statistics –6/30/11

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CONSOLIDATED STATEMENTS OF OPERATIONS - THREE AND SIX MONTHS (UNAUDITED)

	Three Months Ended June 30,						Six Months Ended June 30,
	2011			2010			2011			2010
Revenue:
Minimum rent	$	18,974,092		$	17,741,385		$	37,341,334		$	35,476,596
Tenant reimbursements		4,866,020			4,259,847			10,045,231			9,101,108
Other property related revenue		1,414,061			849,036			2,302,593			1,948,848
Construction and service fee revenue		76,483			1,950,848			86,520			3,830,198
Total revenue		25,330,656			24,801,116			49,775,678			50,356,750
Expenses:
Property operating		4,541,865			3,733,851			9,451,877			8,308,203
Real estate taxes		3,639,368			3,163,086			6,952,312			6,539,400
Cost of construction and services		114,254			1,637,383			164,167			3,395,701
General, administrative and other		1,413,918			1,254,792			3,262,370			2,630,762
Depreciation and amortization		9,893,224			12,165,390			19,070,097			20,710,245
Total expenses		19,602,629			21,954,502			38,900,823			41,584,311
Operating income		5,728,027			2,846,614			10,874,855			8,772,439
Interest expense		(5,840,521	)		(7,237,738	)		(11,742,146	)		(14,334,601	)
Income tax benefit (expense) of taxable REIT subsidiary		30,760			(127,264	)		46,833			(153,100	)
Income (loss) income from unconsolidated entities		92,220			(98,595	)		4,595			(98,595	)
Other income		93,582			66,810			142,620			132,560
Consolidated net income (loss)		104,068			(4,550,173	)		(673,243	)		(5,681,297	)
Net loss attributable to noncontrolling interests		282,545			529,618			353,039			586,062
Net income (loss) attributable to Kite Realty Group Trust		386,613			(4,020,555	)		(320,204	)		(5,095,235	)
Dividends on preferred shares		(1,443,750	)		—			(2,887,500	)		—
Net loss attributable to common shareholders	$	(1,057,137	)	$	(4,020,555	)	$	(3,207,704	)	$	(5,095,235	)
Net loss per common share attributable to Kite Realty Group Trust common shareholders – basic and diluted	$	(0.02	)	$	(0.06	)	$	(0.05	)	$	(0.08	)
Weighted average common shares outstanding – basic and diluted		63,567,964			63,209,194			63,508,337			63,165,588
Dividends declared per common share	$	0.0600		$	0.0600		$	0.1200		$	0.1200

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p. 8

FUNDS FROM OPERATIONS AND OTHER FINANCIAL INFORMATION - THREE AND SIX MONTHS

	Three Months Ended June 30,						Six Months Ended June 30,
	2011			2010			2011			2010
Consolidated net income (loss)	$	104,068		$	(4,550,173	)	$	(673,243	)	$	(5,681,297	)
Less dividends on preferred shares		(1,443,750	)		—			(2,887,500	)		—
Less net (loss) income attributable to noncontrolling interests in properties		(25,189	)		24,563			(41,775	)		(54,526	)
Add depreciation and amortization of consolidated entities, net of noncontrolling interests		9,755,149			12,004,739			18,769,535			20,327,252
Add depreciation and amortization of unconsolidated entities		13,867			41,359			97,067			41,359
Funds From Operations of the Kite Portfolio1		8,404,145			7,520,488			15,264,084			14,632,788
Less redeemable noncontrolling interests in Funds From Operations		(916,052	)		(842,294	)		(1,670,645	)		(1,638,872	)
Funds From Operations allocable to the Company1	$	7,488,093		$	6,678,194		$	13,593,439		$	12,993,916
Basic and Diluted FFO per share of the Kite Portfolio	$	0.12		$	0.11		$	0.21		$	0.21
Basic weighted average Common Shares outstanding		63,567,964			63,209,194			63,508,337			63,165,588
Diluted weighted average Common Shares outstanding		63,856,717			63,476,111			63,805,935			63,396,648
Basic weighted average Common Shares and Units outstanding		71,419,121			71,178,077			71,361,752			71,137,042
Diluted weighted average Common Shares and Units outstanding		71,707,874			71,444,993			71,659,350			71,368,102
Other Financial Information:
Capital expenditures2
Tenant improvements – Retail	$	318,842		$	145,844		$	1,083,634		$	586,278
Tenant improvements – Commercial		53,500			—			53,500			—
Leasing commissions – Retail		535,107			304,524			694,686			380,829
Leasing commissions – Commercial		—			—			—			30,662
Capital improvements3		174,704			264,906			277,143			286,627
Scheduled debt principal payments		1,191,843			1,324,888			2,383,565			2,400,025
Straight line rent		590,230			156,507			1,023,514			239,822
Market rent amortization income from acquired leases		714,175			718,534			1,346,710			1,485,665
Market debt adjustment		107,714			107,714			215,428			215,428
Non-cash compensation expense		198,790						406,003
Capitalized interest		2,156,571			2,166,115			4,298,833			4,154,242
Mark to market lease amount in Deferred revenue and Other liabilities on condensed consolidated balance sheet		9,521,534			11,204,546			9,521,534
Additional Construction in progress not in development pipelines		38,550,886
Acreage of undeveloped, vacant land in the operating portfolio4		38.2
Straight line rent accrued for operating property tenants in current quarter prior to commencement of cash rent (annualized)	$	1,261,724
Mid-quarter rent commencement not recognized in income statement (annualized) 5	$	204,597

____________________
1	“Funds From Operations of the Operating Partnership” measures 100% of the operating performance of the Operating Partnership’s real estate properties and construction and service subsidiaries in which the Company owns an interest. “Funds From Operations allocable to the Company” reflects a reduction for the redeemable noncontrolling weighted average diluted interest in the Operating Partnership.
2	Excludes tenant improvements and leasing commissions relating to development and redevelopment projects and first-generation space.
3	A portion of these capital improvements are reimbursed by tenants and are revenue producing.
4	Excludes land in construction in progress and land held for development.
5	Reflects impact for full quarter for operating property tenants commencing cash rent in the quarter offset by terminated tenants

 Kite Realty Group Trust Supplemental Financial and Operating Statistics –6/30/11

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MARKET CAPITALIZATION AS OF JUNE 30, 2011

							Total			Percent of
				Percent of			Market			Total Market
				Total Equity			Capitalization			Capitalization
Equity Capitalization:
Total Common Shares Outstanding				89.0		%		63,576,651
Operating Partnership ("OP") Units Outstanding				11.0		%		7,846,498
Combined Common Shares and OP Units				100.0		%		71,423,149
Market Price of Common Shares at June 30, 2011							$	4.98
Series A Preferred Shares								70,000,000
Total Equity Capitalization								425,687,282		41	%
Debt Capitalization:
Company Outstanding Debt								654,342,842
Less: Partner Share of Consolidated Joint Venture Debt								(45,915,531	)
Company Share of Outstanding Debt								608,427,311
Pro-rata Share of Unconsolidated Joint Venture Debt								12,843,934
Less: Cash and Cash Equivalents (Consolidated and Pro-rata share of unconsolidated Joint Venture cash)								(8,412,107	)
Total Net Debt Capitalization								612,859,138		59	%
Total Market Capitalization as of June 30, 2011							$	1,038,546,420		100	%
RATIO OF DEBT TO TOTAL UNDEPRECIATED ASSETS AS OF JUNE30, 2011
Consolidated Undepreciated Real Estate Assets				$	1,241,777,415
Company Share of Unconsolidated Real Estate Assets					29,174,555
Escrow and Other Deposits					12,286,429
				$	1,283,238,399
Total Consolidated Debt				$	654,342,842
Company Share of Joint Venture Debt					12,843,934
Less: Cash, including unconsolidated					(8,412,107	)
				$	658,774,669
Ratio of Debt to Total Undepreciated Real Estate Assets					51.3	%
RATIO OF COMPANY SHARE OF DEBT TO EBITDA AS OF JUNE30, 2011
Company share of
-  consolidated debt				$	608,427,311
-  unconsolidated debt					12,843,934
Less:  Cash					(8,412,107	)
					612,859,138
Q2 2011 EBITDA, annualized:
-  consolidated		$	62,485,004
-  unconsolidated		628,444
-  pro forma adjustment1		1,624,002
-  minority interest EBITDA		(142,728		)	64,594,722
					9.49	x
1	Represents full year effect of adjustments for seasonality of percentage rent, annualization of mid-second quarter rent commencement, annualizing Lithia Crossing acquisition, and offset by normalizing other property related revenue.

Kite Realty Group Trust Supplemental Financial and Operating Statistics –6/30/11

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SAME PROPERTY NET OPERATING INCOME (NOI)

	Three Months Ended June 30,								Six Months Ended June 30,
	2011			2010			% Change		2011			2010			% Change
Number of properties at period end1		54			54					54			54
Leased percentage at period-end		93.0%			91.6%					93.0%			91.6%
Minimum rent	$	16,624,349		$	16,167,069				$	33,036,418		$	32,555,283
Tenant recoveries		4,031,858			3,926,694					8,545,462			8,469,540
Other income		43,890			36,367					148,162			101,359
		20,700,097			20,130,130					41,730,042			41,126,182
Property operating expenses		3,756,168			3,548,799					8,287,578			7,906,576
Real estate taxes		2,814,133			2,866,203					5,576,294			5,904,971
		6,570,301			6,415,002					13,863,872			13,811,547
Net operating income – same properties (54 properties)2		14,129,796			13,715,128		3.0	%		27,866,170			27,314,635		2.0	%
Reconciliation to Most Directly Comparable GAAP Measure:
Net operating income – same properties	$	14,129,796		$	13,715,128				$	27,866,170		$	27,314,635
Other income (expense), net		(13,743,183	)		(17,735,683	)				(28,186,374	)		(32,409,870	)
Dividends on preferred shares		(1,443,750	)		—					(2,887,500	)		—
Net loss attributable to common shareholders	$	(1,057,137	)	$	(4,020,555	)			$	(3,207,704	)	$	(5,095,235	)

____________________
1	Same Property analysis excludes Courthouse Shadows, Four Corner Square, Rivers Edge, The Centre and Bolton Plaza properties as the Company pursues redevelopment of these properties.
2	Same Property net operating income is considered a non-GAAP measure because it excludes net gains from outlot sales, write offs of straight-line rent and lease intangibles, bad debt expense and related recoveries, lease termination fees and significant prior year expense recoveries and adjustments, if any.

The Company believes that Net Operating Income is helpful to investors as a measure of its operating performance because it excludes various items included in net income that do not relate to or are not indicative of its operating performance, such as depreciation and amortization, interest expense, and impairment, if any.  The Company believes that Same Property NOI is helpful to investors as a measure of its operating performance because it includes only the NOI of properties that have been owned for the full period presented, which eliminates disparities in net income due to the redevelopment, acquisition or disposition of properties during the particular period presented, and thus provides a more consistent metric for the comparison of the Company's properties.  NOI and Same Property NOI should not, however, be considered as alternatives to net income (calculated in accordance with GAAP) as indicators of the Company's financial performance.

Kite Realty Group Trust Supplemental Financial and Operating Statistics –6/30/11

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NET OPERATING INCOME BY QUARTER

	Three Months Ended
	June 30, 2011			March 31, 2011			December 31, 2010			September 30, 2010			June 30, 2010
Revenue:
Minimum rent	$	18,974,092		$	18,367,242		$	18,067,685	$	$	18,292,136		$	17,741,385
Tenant reimbursements		4,866,020			5,179,210			4,319,215			4,246,120			4,259,847
Other property related revenue1		1,027,535			418,620			1,288,954			934,004			466,819
Parking revenue, net2		(32,470	)		63,355			90,655			47,848			4,653
		24,835,177			24,028,427			23,766,509			23,520,108			22,472,704
Expenses:
Property operating  – Recoverable3		3,239,523			4,019,203			3,756,769			3,189,813			2,928,684
Property operating – Non-Recoverable3		1,094,202			668,605			923,526			1,124,230			615,317
Real estate taxes		3,428,512			3,128,591			2,164,704			2,975,198			2,975,372
		7,762,237			7,816,399			6,844,999			7,289,241			6,519,373
Net Operating Income – Properties		17,072,940			16,212,028			16,921,510			16,230,867			15,953,331
Other Income (Expense):
Construction and service fee revenue		76,483			10,038			1,746,947			1,270,928			1,950,848
Cost of construction and services		(114,254	)		(49,913	)		(1,598,958	)		(1,147,383	)		(1,637,383	)
General, administrative, and other		(1,413,918	)		(1,848,452	)		(1,480,980	)		(1,260,314	)		(1,254,792	)
		(1,451,689	)		(1,888,327	)		(1,332,991	)		(1,136,769	)		(941,327	)
Earnings Before Interest, Taxes, Depreciation and Amortization		15,621,251			14,323,701			15,588,519			15,094,098			15,012,004
Depreciation and amortization		(9,893,224	)		(9,176,873	)		(9,290,845	)		(10,731,138	)		(12,165,390	)
Interest expense		(5,840,521	)		(5,901,625	)		(7,219,072	)		(6,978,767	)		(7,237,738	)
Income tax benefit (expense) of taxable REIT subsidiary		30,760			16,073			(31,932	)		(80,954	)		(127,264	)
Income (loss) from unconsolidated entities		92,220			(87,625	)		48,477			(1,847	)		(98,595	)
Other income		93,582			49,038			44,985			53,633			66,810
Net income (loss)		104,068			(777,311	)		(859,868	)		(2,644,975	)		(4,550,173	)
Net loss attributable to noncontrolling interest		282,545			70,494			74,227			255,021			529,618
Net income (loss) attributable to Kite Realty Group Trust		386,613			(706,817	)		(785,641	)		(2,389,954	)		(4,020,555	)
Dividends on preferred shares		(1,443,750	)		(1,443,750	)		(376,979	)		—			—
Net loss attributable to common shareholders	$	(1,057,137	)	$	(2,150,567	)	$	(1,162,620	)	$	(2,389,954	)	$	(4,020,555	)
NOI/Revenue		68.7%			67.5%			71.2%			69.0%			71.0%
Recovery Ratio4
- Retail Only		82.3%			83.0%			85.7%			77.2%
- Total Portfolio		73.0%			72.5%			72.9%			68.9%			72.2%

____________________
1	Other property related revenue for the three months ended June 30, 2011 includes lease term fees of approximately $600,000.
2	Parking revenue, net, represents the net operating results of the Eddy Street Parking Garage and the Union Station Parking Garage.
3	Recoverable expenses include total management fee expense, a portion of which is recoverable. Non-recoverable expenses primarily include bad debt and legal expense.
4	“Recovery Ratio” is computed by dividing tenant reimbursements by the sum of recoverable property operating expense and real estate tax expense.

Kite Realty Group Trust Supplemental Financial and Operating Statistics –6/30/11

p. 12

SUMMARY OF OUTSTANDING DEBT AS OF JUNE 30, 2011

TOTAL OUTSTANDING DEBT
	Outstanding Amount			Ratio			Weighted Average  Interest Rate1			Weighted Average Maturity (in years)
Fixed Rate Debt
Consolidated	$	295,690,041			44	%		5.98	%		4.7
Floating Rate Debt (Hedged)		144,310,926			22	%		5.48	%		0.8
Total Fixed Rate Debt		440,000,967			66	%		5.82	%		3.4
Variable Rate Debt:
Construction Loans		90,537,231			14	%		3.54	%		1.8
Other Variable		267,784,087			40	%		2.97	%		2.3
Floating Rate Debt (Hedged)		(144,310,926	)		-22	%		-3.01	%		-0.8
Unconsolidated		12,843,934			2	%		3.33	%		2.5
Total Variable Rate Debt		226,854,326			34	%		3.19	%		3.0
Net Premiums on Fixed Rate Debt		331,483			N/A			N/A			N/A
Total	$	667,186,776			100	%		4.93	%		3.3

SCHEDULE OF MATURITIES BY YEAR
	Mortgage Debt						Construction Loans		Total Consolidated Outstanding Debt		KRG Share of Unconsolidated Mortgage Debt		Total Consolidated and Unconsolidated Debt
	Annual Maturity		Term Maturities		Corporate Debt 2
2011	$	1,811,210	$	40,147,866	$	-	$	25,568,742	$	67,527,818	$	-	$	67,527,818
2012		4,266,812		64,398,661		-		4,725,000		73,390,473		-		73,390,473
2013		4,353,188		34,515,433		-		45,931,963		84,800,584		8,086,400		92,886,984
2014		4,106,928		38,189,829		139,286,200		-		181,582,957		4,757,534		186,340,491
2015		3,851,338		38,301,941		-		-		42,153,279		-		42,153,279
2016 and Beyond		7,348,324		182,896,398		-		14,311,526		204,556,248		-		204,556,248
Net Premiums on Fixed Rate Debt		331,483		-		-		-		331,483		-		331,483
Total	$	26,069,283	$	398,450,128	$	139,286,200	$	90,537,231	$	654,342,842	$	12,843,934	$	667,186,776

____________________
1	Calculations on Hedged Debt assume a weighted average spread over LIBOR on all variable rate debt, as the hedges are designated with various pieces of debt.
2	The Company has an option to extend the line of credit for one year.

Kite Realty Group Trust Supplemental Financial and Operating Statistics –6/30/11

p. 13

SCHEDULE OF OUTSTANDING DEBT AS OF JUNE 30, 2011

CONSOLIDATED DEBT
Fixed Rate Debt				Interest Rate		Maturity Date	Balance as of June 30, 2011		Monthly Debt Service As of June 30, 2011
50th & 12th				5.67	%	11/11/14	$	4,252,475	$	27,190
The Centre at Panola, Phase I				6.78	%	1/1/22		3,362,292		36,583
Cool Creek Commons				5.88	%	4/11/16		17,527,071		106,534
Fox Lake Crossing				5.16	%	7/1/12		10,925,709		68,604
Geist Pavilion				5.78	%	1/1/17		11,125,000		55,372
Indian River Square				5.42	%	6/11/15		12,947,201		74,850
International Speedway Square				5.77	%	4/1/21		20,959,573		122,817
Kedron Village				5.70	%	1/11/17		29,700,000		145,778
Pine Ridge Crossing				6.34	%	10/11/16		17,500,000		95,601
Plaza at Cedar Hill				7.38	%	2/1/12		24,950,643		193,484
Plaza Volente				5.42	%	6/11/15		27,919,228		161,405
Preston Commons				5.90	%	3/11/13		4,179,585		28,174
Riverchase Plaza				6.34	%	10/11/16		10,500,000		57,360
Sunland Towne Centre				6.01	%	7/1/16		25,000,000		129,382
30 South				6.09	%	1/11/14		21,103,802		142,257
Traders Point				5.86	%	10/11/16		45,895,436		231,593
Whitehall Pike				6.71	%	7/5/18		7,842,026		77,436
Subtotal							$	295,690,041	$	1,754,420
Floating Rate Debt (Hedged)				Interest Rate		Maturity Date	Balance as of June 30, 2011		Monthly Debt Service as of June 30, 2011
KeyBank (Admin. Agent)				3.27	%	7/15/11	$	55,000,000	$	149,646
Bank of America				1.73	%	12/27/11		19,700,000		28,401
PNC Bank				1.89	%	4/30/12		14,856,200		23,399
Charter One Bank				2.98	%	10/31/11		20,000,000		49,667
M&I Bank				1.65	%	12/19/11		20,000,000		27,500
TD Bank				3.31	%	1/3/17		14,754,726		40,698
Subtotal							$	144,310,926	$	319,311
TOTAL CONSOLIDATED FIXED RATE DEBT							$	440,000,967	$	2,073,731
TOTAL NET PREMIUMS ON FIXED RATE DEBT							$	331,483
Variable Rate Debt: Mortgages			Lender	Interest Rate1		Maturity Date	Balance as of June 30, 2011
951 & 41			KeyBank	LIBOR + 300		9/22/13	$	7,800,000
Bayport Commons2			Bank of America	LIBOR + 350		1/6/12		14,323,016
Beacon Hill3			Fifth Third Bank	LIBOR + 125		3/30/14		7,317,950
Eastgate Pavilion			PNC Bank	LIBOR + 295		4/30/12		14,720,250
Estero Town Commons4			Wells Fargo	LIBOR + 325		1/15/13		10,500,000
Fishers Station5			Old National Bank	LIBOR + 340		6/30/14		3,503,247
Gateway Shopping Center6			Charter One Bank	LIBOR + 190		10/31/11		20,532,866
Glendale Town Center			M&I Bank	LIBOR + 275		12/19/11		19,615,000
Indiana State Motor Pool			Old National Bank	LIBOR + 325		2/4/14		3,394,415
Ridge Plaza			TD Bank	LIBOR + 325		1/3/17		14,603,201
Tarpon Springs Plaza			Wells Fargo	LIBOR + 325		1/15/13		12,187,942
Subtotal							$	128,497,887
	____________________
	1	At June 30, 2011, one-month LIBOR was 0.19%.
	2	The Company has a preferred return, then a 60% interest.  The loan is guaranteed by Kite Realty Group, LP.
	3	The Company has a preferred return, then a 50% interest.  The loan is guaranteed by Kite Realty Group, LP.
	4	The Company has a preferred return, then a 40% interest.  The loan is guaranteed by Kite Realty Group, LP.
	5	The Company has a 25% interest in this property.  The loan is guaranteed by Kite Realty Group, LP.
	6	The Company has a preferred return, then a 50% interest.  This loan is severally guaranteed by Kite Realty Group, LP.

Kite Realty Group Trust Supplemental Financial and Operating Statistics –6/30/11

p. 14

SCHEDULE OF OUTSTANDING DEBT AS OF JUNE 30, 2011(CONTINUED)

Variable Rate Debt: Construction Loans	Lender	Interest Rate1	Maturity Date	Total Commitment		Balance as of June 30, 2011
Bridgewater Marketplace2	Indiana Bank And Trust	LIBOR + 185	6/29/13	$	7,000,000	$	7,000,000
Cobblestone Plaza3	Wells Fargo	LIBOR + 350	2/12/13		34,000,000		29,941,963
Delray Marketplace3	Wells Fargo	LIBOR + 300	1/31/12		4,725,000		4,725,000
Eddy Street Commons	Bank of America	LIBOR + 230	12/30/11		29,460,000		25,568,742
Rivers Edge	Huntington Bank	LIBOR + 325	1/15/16		25,500,000		14,311,526
South Elgin Commons	Charter One Bank	LIBOR + 325	9/30/13		16,500,000		8,990,000
Subtotal				$	117,185,000	$	90,537,231
Corporate Debt	Lender	Interest Rate1	Maturity Date			Balance as of June 30, 2011
Unsecured Credit Facility4	KeyBank (Admin. Agent)	LIBOR + 275	6/6/14			$	139,286,200
Floating Rate Debt (Hedged)5		Various	Various			$	(144,310,926)
TOTAL CONSOLIDATED VARIABLE RATE DEBT						$	214,010,392
TOTAL DEBT PER CONSOLIDATED BALANCE SHEET						$	654,342,842

____________________
1	At June 30, 2011, the one-month LIBOR interest rate was 0.19%.
2	The loan has a LIBOR floor of 3.15%.
3	The Company has a preferred return, then a 50% interest. This loan is guaranteed by Kite Realty Group, LP.
4	The Company has 50 unencumbered properties and other assets of which 46 are wholly owned and used as collateral under the unsecured credit facility and four of which are owned in joint ventures.   The major unencumbered properties include: Boulevard Crossing, Broadstone Station, The Centre, The Corner, Coral Springs Plaza, Courthouse Shadows, Four Corner Square, Hamilton Crossing, King's Lake Square, Lithia Crossing, Market Street Village, Naperville Marketplace, Oleander Pointe, PEN Products, Publix at Acworth, Red Bank Commons, Shops at Eagle Creek, Traders Point II, Union Station Parking Garage, Wal-Mart Plaza and Waterford Lakes.
5	Calculations on Hedged Debt assume a weighted average spread over LIBOR on all variable rate debt, as the hedges are designated with various pieces of debt.

Kite Realty Group Trust Supplemental Financial and Operating Statistics –6/30/11

p. 15

SCHEDULE OF OUTSTANDING DEBT AS OF JUNE 30, 2011(CONTINUED)

UNCONSOLIDATED DEBT
Variable Rate Debt - Construction Loans	Lender	Interest Rate1	Maturity Date	Total Commitment		Balance as of June 30, 2011
Parkside Town Commons2	Bank of America	LIBOR + 275	8/31/13	$	20,216,000	$	20,216,000
Eddy Street Commons – Limited Service  Hotel 3	1st Source Bank	LIBOR + 315	8/18/14	10,850,000			9,515,066
Parkside Town Commons Joint Venture Partners' Share  – 60%							(12,129,600	)
Eddy Street Commons – Limited Service Hotel Joint Venture Partners' Share  – 50%							(4,757,532	)
KRG SHARE OF UNCONSOLIDATED DEBT						$	12,843,934
TOTAL KRG CONSOLIDATED DEBT							654,342,842
TOTAL KRG DEBT						$	667,186,776

____________________
1	At June 30, 2011, the one-month LIBOR interest rate was 0.19%.
2	The Company owns a 40% interest in Parkside Town Commons. This will change to a 20% ownership at the time of the hard cost construction financing.
3	The Company owns a 50% interest in Eddy Street Commons – Limited Service Hotel. The loan has a LIBOR floor of 0.85%.

Kite Realty Group Trust Supplemental Financial and Operating Statistics –6/30/11

p. 16

DEBT MATURITIES UPDATE & EVENTS SUBSEQUENT TO JUNE 30, 2011

Events Subsequent to June 30, 2011
New Debt
Date Closed	Property	Type of Loan	Lender	Loan Amount		Interest Rate			New Maturity Date
8/3/11	Four Property Pool Loan	Fixed Rate/CMBS	JP Morgan/ Key Bank	$	43,400,000		5.44	%	9/1/21
8/3/11	Eddy Street Commons	Fixed Rate/CMBS	JP Morgan/ Key Bank	$	25,500,000		5.44	%	9/1/21
8/3/11	Bayport Commons	Fixed Rate/CMBS	JP Morgan/ Key Bank	$	13,125,000		5.44	%	9/1/21
Total New Debt				$	82,025,000
Existing Debt Payoffs/Paydowns
Date Closed	Property	Type of Loan	Lender	Loan Amount		Interest Rate
8/3/11	Eddy Street Commons	Variable Rate	Bank of America	$	25,568,742	LIBOR + 230
8/3/11	Bayport Commons	Variable Rate	Bank of America	$	14,323,016	LIBOR + 350
8/3/11	Glendale Town Center	Variable Rate	M&I Bank	$	19,615,000	LIBOR + 275
8/3/11	Unsecured Credit Facility	Variable Rate	KeyBank (Admin. Agent)	$	17,000,000	LIBOR + 275
2011 Refinancing Summary
Total Debt Maturing in 2011 as of June 30, 20111			$65,716,608
Less: Events Subsequent to June 30, 2011
Eddy Street Commons Refinance			(25,568,742)
Glendale Town Center Payoff			(19,615,000)
Remaining 2011 Debt Maturities			$20,532,866

		Remaining 2011 Debt Maturities Update
		Property	Type of Loan	Lender	Maturity Date	Balance at June 30, 2011	Comments
		Gateway Shopping Center	Variable Rate Debt Mortgages	Charter One Bank	10/31/11	$20,532,866		Beginning process to execute on the automatic one year extension.
____________________
1	Total debt maturing in 2011 excludes scheduled monthly principal payments of $1,811,210 for the remainder of 2011.

Kite Realty Group Trust Supplemental Financial and Operating Statistics –6/30/11

p. 17

JOINT VENTURE SUMMARY - UNCONSOLIDATED PROPERTIES

During 2011, the Company owned the following unconsolidated properties with joint venture partners:

Property	Percentage Owned by the Company
Parkside Town Commons – Development Property1	40%
Eddy Street Commons Limited Service Hotel – Development Property	50%

____________________
1	The Company's 40% interest in Parkside Town Commons will change to 20% at the time of construction financing placement.

Kite Realty Group Trust Supplemental Financial and Operating Statistics –6/30/11

p. 18

CONDENSED COMBINED BALANCE SHEETS OF UNCONSOLIDATED PROPERTIES

(Parkside Town Commons and Eddy Street Commons Limited Service Hotel)

(Unaudited)

	June 30, 2011			December 31, 2010
Assets:
Investment properties, at cost:
Buildings and improvements	$	9,188,656		$	9,180,156
Furniture, equipment and other		257,673			258,048
Construction in progress		61,832,536			60,852,416
		71,278,865			70,290,620
Less: accumulated depreciation		(582,392	)		(388,260	)
		70,696,473			69,902,360
Cash and cash equivalents		1,722,581			1,146,354
Other receivables		461,748			141,043
Escrow deposits		335,000			600,000
Deferred costs, net		74,405			86,153
Prepaid and other assets		51,447			38,052
Total Assets	$	73,341,654		$	71,913,962
Liabilities and Shareholders’ Equity:
Mortgage and other indebtedness	$	29,731,066		$	43,287,141
Accounts payable and accrued expenses		1,833,381			839,607
Total Liabilities		31,564,447			44,126,748
Accumulated equity		41,777,207			27,787,214
Total Liabilities and Accumulated Equity	$	73,341,654		$	71,913,962
Company’s share of cash and cash equivalents	$	819,523		$	551,207
Company’s share of unconsolidated real estate assets	$	29,174,555		$	28,865,939
Company’s share of mortgage and other indebtedness	$	12,843,933		$	18,256,271

Kite Realty Group Trust Supplemental Financial and Operating Statistics –6/30/11

p. 19

CONDENSED COMBINED STATEMENTS OF OPERATIONS OF UNCONSOLIDATED PROPERTIES

(Eddy Street Commons Limited Service Hotel)1

(Unaudited)

	Three Months Ended June 30,						Six Months Ended June 30,
	2011			2010				2011			2010
Revenue:
Minimum rent	$	—		$	—		$	—		$	—
Tenant reimbursements		—			—			—			—
Other property related revenue		1,071,000			101,196			1,745,034			101,196
Total revenue		1,071,000			101,196			1,745,034			101,196
Expenses:
Property operating		594,336			203,554			1,070,710			203,554
Real estate taxes		133,532			—			221,033			—
Other expense		28,910			—			47,740			—
Total expenses		756,778			203,554			1,339,483			203,554
Net operating income (loss)		314,222			(102,358	)		405,551			(102,358	)
Depreciation and amortization2		(27,733	)		(82,718	)		(194,133	)		(82,718	)
Interest expense		(102,049	)		(12,113	)		(202,228	)		(12,113	)
Net income (loss)	$	184,440		$	(197,189	)	$	9,190		$	(197,189	)
Company’s share of unconsolidated net operating income (loss)	$	157,111		$	(51,179	)	$	202,776		$	(51,179	)
Company’s share of unconsolidated interest expense	$	(51,025	)	$	(6,057	)	$	(101,114	)	$	(6,057	)

____________________
1	Parkside Town Commons is not yet operational.
2	Depreciation was ceased on the hotel asset in April 2011 as the Company intends to sell the asset.

Kite Realty Group Trust Supplemental Financial and Operating Statistics –6/30/11

p. 20

TOP 10 RETAIL TENANTS BY GROSS LEASABLE AREA (GLA)

As of June 30, 2011

This table includes the following:

·   Operating retail properties;

·   Operating commercial properties; and

·   Development property tenants open for business or ground lease tenants who commenced paying rent as of June 30, 2011.

Tenant	Number of Locations		Total GLA		Number of Leases		Company Owned GLA1		Number of  Anchor Owned Locations		Anchor Owned GLA2
Lowe's Home Improvement3		8		1,082,630		2		128,997		6		953,633
Target		6		665,732		0		0		6		665,732
Wal-Mart		4		618,161		1		103,161		3		515,000
Publix		6		289,779		6		289,779		0		0
Federated Department Stores		1		237,455		1		237,455		0		0
Kohl’s		2		186,090		0		0		2		186,090
Dick's Sporting Goods		3		171,737		3		171,737		0		0
Bed Bath & Beyond/Buy Buy Baby		6		168,254		6		168,254		0		0
Ross Stores		5		147,648		5		147,648		0		0
PetSmart		6		147,079		6		147,079		0		0
		47		3,714,565		30		1,394,110		17		2,320,455

____________________
1	Excludes the estimated size of the structures located on land owned by the Company and ground leased to tenants.
2	Includes the estimated size of the structures located on land owned by the Company and ground leased to tenants.
3	The Company has entered into one ground lease with Lowe’s Home Improvement for a total of 163,000 square feet, which is included in Anchor Owned GLA.

Kite Realty Group Trust Supplemental Financial and Operating Statistics –6/30/11

p. 21

TOP 25 TENANTS BY ANNUALIZED BASE RENT 1,2

As of June 30, 2011

This table includes the following:

·   Operating retail properties;

·   Operating commercial properties; and

·   Development property tenants open for business or ground lease tenants who commenced paying rent as of June 30, 2011.

Tenant	Type of Property	Number of Locations	Leased GLA/NRA2	% of Owned GLA/NRA of the Portfolio	Annualized Base Rent1		Annualized Base Rent per Sq. Ft.		% of Total Portfolio Annualized Base Rent
Publix	Retail	6	289,779	5.1%	$	2,366,871	$	8.17	3.1%
PetSmart	Retail	6	147,079	2.6%		2,057,838		13.99	2.7%
Bed Bath & Beyond / Buy Buy Baby	Retail	6	168,254	2.9%		1,857,267		11.04	2.5%
Lowe's Home Improvement	Retail	2	128,997	2.3%		1,764,000		6.04	2.3%
Ross Stores	Retail	5	147,648	2.6%		1,643,771		11.13	2.2%
State of Indiana	Commercial	3	210,393	3.7%		1,635,911		7.78	2.2%
Marsh Supermarkets	Retail	2	124,902	2.2%		1,605,139		12.85	2.1%
Dick's Sporting Goods	Retail	3	171,737	3.0%		1,404,508		8.18	1.9%
Indiana Supreme Court	Commercial	1	75,488	1.3%		1,339,164		17.74	1.8%
Staples	Retail	4	89,797	1.6%		1,226,835		13.66	1.6%
HEB Grocery Company	Retail	1	105,000	1.8%		1,155,000		11.00	1.5%
Toys “R” Us	Retail	2	80,600	1.4%		1,095,050		13.59	1.5%
Office Depot	Retail	4	103,402	1.8%		1,069,504		10.34	1.4%
Best Buy	Retail	2	75,045	1.3%		911,993		12.15	1.2%
Kmart	Retail	1	110,875	1.9%		850,379		7.67	1.1%
LA Fitness	Retail	1	45,000	0.8%		843,750		18.75	1.1%
TJX Companies	Retail	3	88,550	1.5%		818,313		9.24	1.1%
Michaels	Retail	3	68,989	1.2%		792,515		11.49	1.1%
Dominick's	Retail	1	65,977	1.2%		775,230		11.75	1.0%
City Securities Corporation	Commercial	1	38,810	0.7%		771,155		19.87	1.0%
A & P	Retail	1	58,732	1.0%		763,516		13.00	1.0%
Mattress Firm	Retail	7	29,255	0.5%		719,094		24.58	1.0%
Stein Mart	Retail	3	106,000	1.9%		682,000		6.43	0.9%
Petco	Retail	3	40,778	0.7%		595,945		14.61	0.8%
Beall's	Retail	2	79,611	1.4%		588,000		7.39	0.8%
TOTAL			2,650,698	46.4%	$	29,332,748	$	10.65	38.9%

____________________
1	Annualized base rent represents the monthly contractual rent for June 2011 for each applicable tenant multiplied by 12.
2	Excludes the estimated size of the structures located on land owned by the Company and ground leased to tenants.
3	Annualized Base Rent per square foot is adjusted to account for the estimated square footage attributed to structures on land owned by the Company and ground leased to tenants.

Kite Realty Group Trust Supplemental Financial and Operating Statistics –6/30/11

p. 22

LEASE EXPIRATIONS - OPERATING PORTFOLIO 1

As of June 30, 2011

This table includes the following:

·   Operating retail properties;

·   Operating commercial properties; and

·   Development property tenants open for business or ground lease tenants who commenced paying rent as of June 30, 2011.

	Number of Expiring Leases1	Expiring GLA/NRA2	% of Total GLA/NRA Expiring	Expiring Annualized Base Rent3		% of Total Annualized Base Rent	Expiring Annualized Base Rent per Sq. Ft.		Expiring Ground Lease Revenue
2011	64	214,807	3.8%	$	2,995,997	4.1%	$	13.95	$	0
2012	91	332,305	5.8%		5,174,375	7.1%		15.57		0
2013	86	560,301	9.8%		6,901,259	9.4%		12.32		71,996
2014	87	572,164	10.0%		7,738,899	10.6%		13.53		340,471
2015	91	744,213	13.1%		10,038,689	13.7%		13.49		198,650
2016	81	748,665	13.1%		6,746,519	9.2%		9.01		0
2017	35	455,004	8.0%		6,627,147	9.0%		14.57		266,300
2018	29	364,237	6.4%		4,996,187	6.8%		13.72		0
2019	16	185,685	3.3%		2,823,157	3.9%		15.20		33,000
2020	18	353,726	6.2%		3,469,918	4.7%		9.81		156,852
Beyond	59	1,167,409	20.5%		15,808,732	21.5%		13.54		1,838,809
Total	657	5,698,516	100.0%	$	73,320,879	100.0%	$	12.87	$	2,906,078

____________________
1	Lease expiration table reflects rents in place as of June 30, 2011 and does not include option periods; 2011 expirations include 16 month-to-month tenants. This column also excludes ground leases.
2	Expiring GLA excludes estimated square footage attributable to non-owned structures on land owned by the Company and ground leased to tenants.
3	Annualized base rent represents the monthly contractual rent for June 2011 for each applicable tenant multiplied by 12. Excludes ground lease revenue.

Kite Realty Group Trust Supplemental Financial and Operating Statistics –6/30/11

p. 23

LEASE EXPIRATIONS - RETAIL ANCHOR TENANTS 1

As of June 30, 2011

This table includes the following:

·   Operating retail properties; and

·   Development property tenants open for business or ground lease tenants who commenced paying rent as of June 30, 2011.

	Number of Expiring Leases1,2	Expiring GLA/NRA3	% of Total GLA/NRA Expiring	Expiring Annualized Base Rent4		% of Total Annualized Base Rent	Expiring Annualized Base Rent per Sq. Ft.		Expiring Ground Lease Revenue
2011	4	98,842	1.7%	$	708,956	1.0%	$	7.17	$	0
2012	6	114,747	2.0%		969,932	1.3%		8.45		0
2013	4	254,062	4.5%		1,256,461	1.7%		4.95		0
2014	9	236,834	4.2%		2,355,657	3.2%		9.95		0
2015	18	503,359	8.8%		5,020,887	6.9%		9.97		0
2016	11	544,387	9.6%		2,887,081	3.9%		5.30		0
2017	12	292,112	5.1%		3,537,644	4.8%		12.11		0
2018	8	300,576	5.3%		3,580,504	4.9%		11.91		0
2019	6	150,989	2.7%		2,070,625	2.8%		13.71		0
2020	9	326,354	5.7%		2,767,033	3.8%		8.48		0
Beyond	25	952,108	16.7%		11,658,546	15.9%		12.25		990,000
Total	112	3,774,370	66.3%	$	36,813,326	50.2%	$	9.75	$	990,000

____________________
1	Retail anchor tenants are defined as tenants that occupy 10,000 square feet or more.
2	Lease expiration table reflects rents in place as of June 30, 2011 and does not include option periods; 2011 expirations include two month-to-month tenant. This column also excludes ground leases.
3	Expiring GLA excludes square footage for non-owned ground lease structures on land we own and ground leased to tenants.
4	Annualized base rent represents the monthly contractual rent for June 2011 for each applicable property multiplied by 12. Excludes ground lease revenue.

Kite Realty Group Trust Supplemental Financial and Operating Statistics –6/30/11

p. 24

LEASE EXPIRATIONS - RETAIL SHOPS 

As of June 30, 2011

This table includes the following:

·   Operating retail properties; and

·   Development property tenants open for business as of June 30, 2011.

	Number of Expiring Leases1	Expiring GLA/NRA1,2	% of Total GLA/NRA Expiring	Expiring Annualized Base Rent3		% of Total Annualized Base Rent	Expiring Annualized Base Rent per Sq. Ft.		Expiring Ground Lease Revenue
2011	60	115,965	2.0%	$	2,287,041	3.1%	$	19.72	$	0
2012	84	208,040	3.7%		4,042,637	5.5%		19.43		0
2013	76	171,280	3.0%		3,913,549	5.3%		22.85		71,996
2014	75	172,642	3.0%		3,801,785	5.2%		22.02		340,471
2015	72	195,753	3.4%		4,238,295	5.8%		21.65		198,650
2016	70	204,278	3.6%		3,859,438	5.3%		18.89		0
2017	21	82,607	1.5%		1,664,226	2.3%		20.15		266,300
2018	20	56,622	1.0%		1,288,976	1.8%		22.76		0
2019	10	34,696	0.6%		752,532	1.0%		21.69		33,000
2020	9	27,372	0.5%		702,885	1.0%		25.68		156,852
Beyond	29	112,748	2.0%		2,739,718	3.7%		24.30		848,809
Total	526	1,382,003	24.3%	$	29,291,082	40.0%	$	21.19	$	1,916,078

____________________
1	Lease expiration table reflects rents in place as of June 30, 2011, and does not include option periods; 2011 expirations include 14 month-to-month tenants.  This column also excludes ground leases.
2	Expiring GLA excludes estimated square footage to non-owned structures on land we own and ground leased to tenants.
3	Annualized base rent represents the monthly contractual rent for June 2011 for each applicable property multiplied by 12. Excludes ground lease revenue.

Kite Realty Group Trust Supplemental Financial and Operating Statistics –6/30/11

p. 25

LEASE EXPIRATIONS - COMMERCIAL TENANTS

As of June 30, 2011

	Number of Expiring Leases1	Expiring NLA1	% of Total NRA Expiring	Expiring Annualized Base Rent2		% of Total Annualized Base Rent	Expiring Annualized Base Rent per Sq. Ft.
2011	0	–	0.0%	$	–	0.0%	$	0.00
2012	1	9,518	0.2%		161,806	0.2%		17.00
2013	6	134,959	2.4%		1,731,249	2.4%		12.83
2014	3	162,688	2.9%		1,581,457	2.2%		9.72
2015	1	45,101	0.8%		779,507	1.1%		17.28
2016	0	–	0.0%		–	0.0%		0.00
2017	2	80,285	1.4%		1,425,278	1.9%		17.75
2018	1	7,039	0.1%		126,708	0.2%		18.00
2019	0	–	0.0%		–	0.0%		0.00
2020	0	–	0.0%		–	0.0%		0.00
Beyond	5	102,553	1.8%		1,410,468	1.9%		13.75
Total	19	542,143	9.6%	$	7,216,473	9.9%	$	13.31

____________________
1	Lease expiration table reflects rents in place as of June 30, 2011 and does not include option periods. This column also excludes ground leases.
2	Annualized base rent represents the monthly contractual rent for June 30, 2011 for each applicable property multiplied by 12.

Kite Realty Group Trust Supplemental Financial and Operating Statistics –6/30/11

p. 26

SUMMARY RETAIL PORTFOLIO STATISTICS INCLUDING JOINT VENTURE PROPERTIES

	June 30, 2011			March 31, 2011			December 31, 2010			September 30, 2010			June 30, 2010
Company Owned GLA– Operating Retail1		5,133,713			5,052,161			5,132,850			4,999,009			4,999,009
Total GLA– Operating Retail1		8,026,604			7,939,606			8,020,295			7,886,454			7,886,454
Projected Company Owned GLA Under Development and Redevelopment2	See Note 4				841,677			716,100			791,506			791,506
Existing Owned GLA of Future Redevelopment Projects4		417,671			–			–			–			–
Projected Owned GLA of In-Process Development and Redevelopment Projects4		706,640			–			–			–			–
Projected Total GLA Under Development and Redevelopment2		1,418,000			1,034,290			908,743			1,113,663			1,113,663
Number of Operating Retail Properties		53			52			53			51			51
Number of Retail Properties In-Process Development or Redevelopment		9			8			6			7			7
Percentage Leased – Operating Retail		93.0	%		92.3	%		92.2	%		92.2	%		91.0	%
Annualized Base Rent & Ground Lease Revenue – Operating Retail Properties3 (excludes redevelopment)	$	64,332,559		$	62,628,349		$	63,533,070		$	61,225,594		$	60,446,100

____________________
1	Company Owned GLA represents gross leasable area owned by the Company. Total GLA includes Company Owned GLA, plus square footage attributable to non-owned outlot structures on land owned by the Company and ground leased to tenants, and non-owned anchor space.
2	Projected Company Owned GLA Under Development or Redevelopment represents gross leasable area under development that is projected to be owned by the Company. Projected Total GLA Under Development or Redevelopment includes Projected Company Owned GLA, plus projected square footage attributable to non-owned outlot structures on land owned by the Company and ground leased to tenants, and non-owned anchor space that is existing or under construction.
3	Annualized Base Rent represents the monthly contractual rent in effect for each period shown, multiplied by 12.
4	In June 2011, the Company revised the classifications of its In-Process and Future Development projects. See pages 29 and 30

Kite Realty Group Trust Supplemental Financial and Operating Statistics –6/30/11

p. 27

SUMMARY COMMERCIAL PORTFOLIO STATISTICS

Retail Portfolio	June 30, 2011			March 31, 2011			December 31, 2010			September 30, 2010			June 30, 2010
Company Owned Net Rentable Area (NRA)1,4		580,849			581,380			581,380			499,221			499,221
Number of Operating Commercial Properties		4			4			4			4			4
Percentage Leased – Operating Commercial Properties4		93.3	%		92.0	%		94.8	%		95.5	%		95.5	%
Annualized Base Rent – Commercial Properties2,3,4	$	7,216,472		$	7,055,940		$	7,474,590		$	6,409,885		$	6,405,262

____________________
1	Company Owned NRA does not include square footage of Union Station Parking Garage, a detached parking garage supporting the 30 South property that includes approximately 850 parking spaces. It is managed by a third party.
2	Annualized Base Rent does not include income attributable to the Union Station Parking Garage.
3	Annualized Base Rent includes $779,507 from KRG and subsidiaries as of June 30, 2011.
4	Includes the office space at Eddy Street Commons.

Kite Realty Group Trust Supplemental Financial and Operating Statistics –6/30/11

p. 28

IN-PROCESS DEVELOPMENT  / REDEVELOPMENT PROJECTS

Project	Project Type	Company Ownership %1	MSA	Actual/ Projected  Opening Date2	Projected Owned GLA3	Projected Total GLA4	Percent of Owned GLA Occupied5	Percent of Owned GLA Pre-Leased/ Committed6	Total Estimated Project Cost7	Cost Incurred as of June 30, 20117	Major Tenants and Non-owned Anchors
Cobblestone Plaza, FL1	Development	50%	Ft. Lauderdale	Q2 2009/ Q4 2011	132,743	138,386	50.9%	89.0%	$52,000	$49,970	Whole Foods, Pets Emporium, Party City
South Elgin Commons, IL      – I & II9	Development	100%	Chicago	Q4 2011	128,000	315,000	35.2%	100.0%	$16,200	$9,147	Ross, Toys “R” Us, LA Fitness (Phase I) Target (non-owned)
Delray Marketplace, FL10	Development	50%	Delray Beach	Q4 2012	253,371	258,084	0.0%	62.5%	$95,000	$48,666	Publix, Frank Theatres,  Max's Grille, Bobby Chan's, Charming Charlie, Chico's, White House | Black Market, JoS. A. Bank
Oleander Pointe, NC	Redevelopment	100%	Wilmington	Q4 2011	43,806	48,306	3.4%	80.4%	$5,000	$148	Whole Foods
Rivers Edge	Redevelopment	100%	Indianapolis	Q4 2011	148,720	151,720	29.5%	99.2%	$21,500	$9,560	Nordstrom Rack, Buy Buy Baby, Container Store, Arhaus Furniture, BGI Fitness
Total In-Process Development / Redevelopment Projects					706,640	911,496	22.4%	83.1%	$189,700	$117,491
Cost incurred as of 6/30/2011 included in Construction in progress on condensed consolidated balance sheet.8										$78,603

____________________
1	The Company owns Cobblestone Plaza through a joint venture. Whole Foods is planning to take possession in the second half of 2011.
2	Opening Date is defined as the first date a tenant is open for business or a ground lease payment is made. Stabilization (i.e., 85% occupied) typically occurs within six to twelve months after the opening date.
3	Projected Owned GLA represents gross leasable area we project we will own. It excludes square footage that we project will be attributable to non-owned outlot structures on land owned by us and expected to be ground leased to tenants. It also excludes non-owned anchor space.
4	Projected Total GLA includes Projected Owned GLA, projected square footage attributable to non-owned outlot structures on land that we own, and non-owned anchor space that currently exists or is under construction.
5	Includes tenants that have taken possession of their space or have begun paying rent.
6	Excludes outlot land parcels owned by the Company and ground leased to tenants. Includes leases under negotiation for approximately 16,486 square feet for which the Company has signed non-binding letters of intent.
7	Dollars in thousands. Reflects both the Company’s and partners’ share of costs.
8	Cost incurred is reclassified to fixed assets on the consolidated balance sheet on a pro-rata basis as portions of the asset are placed in service.
9	Square footage, and occupied and leased percentages include Phase I, LA Fitness that is currently in the operating portfolio. Estimated total Project cost and cost incurred are Phase II only.
10	The Company owns Delray Marketplace through joint venture (preferred return, then 50%).

Kite Realty Group Trust Supplemental Financial and Operating Statistics –6/30/11

p. 29

FUTUREDEVELOPMENT  / REDEVELOPMENT PROJECTS

Project		Project Type4	MSA	Existing Owned GLA	Estimated Total GLA1	Total Estimated Project Cost1,2		Cost Incurred as of June 30, 20112		Major Tenants and Non-owned Anchors
Consolidated –
The Centre, IN		Redevelopment	Indianapolis	80,689	80,689	$	2,000	$	—	CVS Pharmacy
Bolton Plaza, FL		Redevelopment	Jacksonville	172,938	172,938		5,700		3,149	Academy Sports & Outdoors
Courthouse Shadows, FL		Redevelopment	Naples	134,867	134,867		2,500		378	Publix, Office Max
Broadstone Station, NC	Development		Raleigh	—	345,000		19,100		13,501	Shops, Pad Sales, Jr. Boxes, Super Wal-Mart (non-owned)
Four Corner Square / Maple Valley, WA5		Redevelopment/ Development	Seattle	29,177	118,010		14,100		10,724	Johnson Hardware (Do It Center), Walgreens, Grocer, Shops
New Hill Place, NC       Phase I	Development		Raleigh	—	310,000		30,000		16,202	Target, Frank Theatres, 4 National Junior Anchors
Total Consolidated				417,671	1,161,504	$	73,400	$	43,954
Unconsolidated –
Parkside Town Commons, NC3	Development		Raleigh	—	1,500,000	$	148,000	$	63,351	Frank Theatres, Discount Department Store, Jr. Boxes, Restaurants
KRG Current Share of Unconsolidated3					1,500,000	$	29,600	$	25,340
							20%		40%

____________________
1	Total Estimated Cost and Estimated Total GLA based on preliminary site plans and includes non-owned anchor space that exists or is currently under construction.
2	Dollars in thousands.  Reflects both the Company's and partners' share of costs.
3	All consolidated projects are 100% owned by KRG. Parkside Town Commons is owned through a joint venture with Prudential Real Estate Investors. The Company’s interest in this joint venture is 40% as of June 30, 2011 and will be reduced to 20% at the time of project specific construction financing.
4	Redevelopment properties have been removed from the operating portfolio statistics.
5	"Total Estimated Project Cost" includes a portion of the acquisition cost of the Four Corner Square shopping center which is a component of the Maple Valley redevelopment.

Kite Realty Group Trust Supplemental Financial and Operating Statistics –6/30/11

p. 30

GEOGRAPHICDIVERSIFICATION  - OPERATING PORTFOLIO

As of June 30, 2011

	Number of Operating Properties1	Owned  GLA/NRA2	Percent of Owned GLA/NRA	Total Number of Leases	Annualized Base Rent3		Percent of Annualized Base Rent	Annualized Base Rent per Leased Sq. Ft.
Indiana	24	2,273,627	39.8%	221	$	27,249,994	39.7%	$	12.85
·Retail	20	1,692,778	29.6%	202		20,033,522	29.2%		12.69
·Commercial	4	580,849	10.2%	19		7,216,472	10.5%		13.31
Florida	13	1,304,551	22.8%	175		15,227,064	22.2%		12.64
Texas	7	1,099,480	19.2%	80		12,114,330	17.7%		11.77
Georgia	3	300,116	5.3%	57		4,065,934	5.9%		14.63
Washington	3	126,496	2.2%	20		2,784,765	4.1%		23.37
Ohio	1	236,230	4.1%	7		2,119,766	3.1%		8.97
Illinois	3	227,830	4.0%	18		3,001,865	4.4%		14.02
New Jersey	1	115,063	2.0%	14		1,533,775	2.2%		16.40
Oregon	2	31,169	0.6%	13		545,459	0.8%		23.58
Total	57	5,714,562	100.0%	605	$	68,642,952	100.0%	$	12.91

____________________
1	This table includes operating retail properties, operating commercial properties, and ground lease tenants who commenced paying rent as of June 30, 2011 and excludes six retail properties under redevelopment.
2	Owned GLA/NRA represents gross leasable area or net leasable area owned by the Company.  It does not include 29 parcels or outlots owned by the Company and ground leased to tenants, which contain 18 non-owned structures totaling approximately 357,104 square feet.  It also excludes the square footage of Union Station Parking Garage.
3	Annualized Base Rent excludes $2,906,079 in annualized ground lease revenue attributable to parcels and outlots owned by the Company and ground leased to tenants.

Kite Realty Group Trust Supplemental Financial and Operating Statistics –6/30/11

p. 31

OPERATINGRETAIL PROPERTIES - TABLE I

As of June 30, 2011

Property1	State	MSA	Year  Built/Renovated	Year Added to Operating Portfolio	Acquired, Redeveloped, or Developed	Total GLA2	Owned GLA2	Percentage of Owned GLA  Leased3
Bayport Commons7	FL	Oldsmar	2008	2008	Developed	268,556	97,112	93.8%
Coral Springs Plaza	FL	Ft. Lauderdale	2004/2010	2004	Redeveloped	46,079	46,079	100.0%
Estero Town Commons7	FL	Naples	2006	2007	Developed	206,600	25,631	66.4%
Indian River Square	FL	Vero Beach	1997/2004	2005	Acquired	379,246	144,246	97.6%
International Speedway Square	FL	Daytona	1999	1999	Developed	242,995	229,995	94.1%
King's Lake Square	FL	Naples	2003	2011	Acquired	85,497	85,497	90.5%
Lithia Crossing	FL	Tampa	1993	2006	Acquired	86,950	81,504	95.6%
Pine Ridge Crossing	FL	Naples	1993	2006	Acquired	258,874	105,515	96.4%
Riverchase Plaza	FL	Naples	1991/2001	2006	Acquired	78,380	78,380	95.5%
Shops at Eagle Creek	FL	Naples	1983	2003	Redeveloped	72,271	72,271	52.0%
Tarpon Springs Plaza	FL	Naples	2007	2007	Developed	276,346	82,547	95.1%
Wal-Mart Plaza	FL	Gainesville	1970	2004	Acquired	177,826	177,826	94.6%
Waterford Lakes Village	FL	Orlando	1997	2004	Acquired	77,948	77,948	98.4%
Kedron Village	GA	Atlanta	2006	2006	Developed	282,125	157,409	90.8%
Publix at Acworth	GA	Atlanta	1996	2004	Acquired	69,628	69,628	91.0%
The Centre at Panola	GA	Atlanta	2001	2004	Acquired	73,079	73,079	98.2%
Fox Lake Crossing	IL	Chicago	2002	2005	Acquired	99,072	99,072	89.4%
Naperville Marketplace	IL	Chicago	2008	2008	Developed	169,600	83,758	96.1%
South Elgin Commons	IL	Chicago	2009	2009	Developed	45,000	45,000	100.0%
50 South Morton	IN	Indianapolis	1999	1999	Developed	2,000	2,000	100.0%
54th & College	IN	Indianapolis	2008	2008	Developed	20,100	-	*
Beacon Hill7	IN	Crown Point	2006	2007	Developed	127,821	57,191	73.1%
Boulevard Crossing	IN	Kokomo	2004	2004	Developed	213,696	123,696	93.0%
Bridgewater Marketplace	IN	Indianapolis	2008	2008	Developed	50,820	25,975	61.6%
Cool Creek Commons	IN	Indianapolis	2005	2005	Developed	137,107	124,578	93.8%
Eddy Street Commons (Retail Only)	IN	South Bend	2009	2010	Developed	87,762	87,762	92.5%
Fishers Station4	IN	Indianapolis	1989	2004	Acquired	116,885	116,885	93.1%
Geist Pavilion	IN	Indianapolis	2006	2006	Developed	64,114	64,114	83.7%
Glendale Town Center	IN	Indianapolis	1958/2008	2008	Redeveloped	685,827	403,198	97.6%
Greyhound Commons	IN	Indianapolis	2005	2005	Developed	153,187	-	*
Hamilton Crossing Centre	IN	Indianapolis	1999	2004	Acquired	87,424	82,424	90.6%
Martinsville Shops	IN	Martinsville	2005	2005	Developed	10,986	10,986	100.0%
Red Bank Commons	IN	Evansville	2005	2006	Developed	324,308	34,308	66.0%

____________________
*	Property consists of ground leases only and, therefore, no Owned GLA. 54th & College is a single ground lease property; Greyhound Commons has two of four outlots leased.
1	All properties are wholly owned, except as indicated. Unless otherwise noted, each property is owned in fee simple by the Company.
2	Owned GLA represents gross leasable area that is owned by the Company. Total GLA includes Owned GLA, square footage attributable to non-owned anchor space, and non-owned structures on ground leases.
3	Percentage of Owned GLA Leased reflects Owned GLA/NRA leased as of  June 30, 2011, except for Greyhound Commons and 54th & College (see *).
4	This property is divided into two parcels: a grocery store and small shops. The Company owns a 25% interest in the small shops parcel through a joint venture and a 100% interest in the grocery store. The joint venture partner is entitled to an annual preferred payment of $106,000. All remaining cash flow is distributed to the Company.
5	The Company does not own the land at this property. It has leased the land pursuant to two ground leases that expire in 2017. The Company has six five-year options to renew this lease.
6	The Company does not own the land at this property. It has leased the land pursuant to a ground lease that expires in 2012. The Company has six five-year renewal options and a right of first refusal to purchase the land.
7	The Company owns and manages the following properties through joint ventures with third parties: Beacon Hill (50%); Cornelius Gateway (80%); Estero Town Commons (40%); and Sandifur Plaza (95%).

Kite Realty Group Trust Supplemental Financial and Operating Statistics –6/30/11

p. 32

OPERATINGRETAIL PROPERTIES - TABLE I (CONTINUED)

Property1	State	MSA	Year Built/Renovated	Year Added to Operating Portfolio	Acquired, Redeveloped, or Developed	Total GLA2	Owned GLA2	Percentage of Owned GLA  Leased3
Stoney Creek Commons	IN	Indianapolis	2000	2000	Developed	189,527	49,330	100.0%
The Corner	IN	Indianapolis	1984/2003	1984	Developed	42,660	42,660	100.0%
Traders Point	IN	Indianapolis	2005	2005	Developed	348,835	279,674	100.0%
Traders Point II	IN	Indianapolis	2005	2005	Developed	46,600	46,600	61.8%
Whitehall Pike	IN	Bloomington	1999	1999	Developed	128,997	128,997	100.0%
Zionsville Place	IN	Indianapolis	2006	2006	Developed	12,400	12,400	100.0%
Ridge Plaza	NJ	Oak Ridge	2002	2003	Acquired	115,063	115,063	81.3%
Eastgate Pavilion	OH	Cincinnati	1995	2004	Acquired	236,230	236,230	100.0%
Cornelius Gateway7	OR	Portland	2006	2007	Developed	35,800	21,324	62.3%
Shops at Otty5	OR	Portland	2004	2004	Developed	154,845	9,845	100.0%
Burlington Coat Factory6	TX	San Antonio	1992/2000	2000	Redeveloped	107,400	107,400	100.0%
Cedar Hill Village	TX	Dallas	2002	2004	Acquired	139,092	44,262	94.1%
Market Street Village	TX	Hurst	1970/2004	2005	Acquired	163,625	156,625	100.0%
Plaza at Cedar Hill	TX	Dallas	2000	2004	Acquired	299,847	299,847	86.9%
Plaza Volente	TX	Austin	2004	2005	Acquired	160,333	156,333	91.0%
Preston Commons	TX	Dallas	2002	2002	Developed	142,539	27,539	77.4%
Sunland Towne Centre	TX	El Paso	1996	2004	Acquired	312,450	307,474	97.2%
50th & 12th	WA	Seattle	2004	2004	Developed	14,500	14,500	100.0%
Gateway Shopping Center	WA	Seattle	2008	2008	Developed	285,200	99,444	94.8%
Sandifur Plaza7	WA	Pasco	2008	2008	Developed	12,552	12,552	82.5%
					Total	8,026,604	5,133,713	93.0%

See prior page for footnote disclosure.

Kite Realty Group Trust Supplemental Financial and Operating Statistics –6/30/11

p. 33

OPERATINGRETAIL PROPERTIES - TABLE II

As of June 30, 2011

Property	State	MSA	Annualized Base Rent Revenue1	Annualized Ground Lease Revenue	Annualized Total Retail Revenue	Percentage of Annualized Total Retail Revenue	Base Rent Per Leased Owned GLA2	Major Tenants and Non-Owned Anchors3
Bayport Commons	FL	Oldsmar	$1,642,019	$           -	$1,642,019	2.55%	$18.02	PetSmart, Best Buy, Michaels, Target (non-owned)
Coral Springs Plaza	FL	Ft. Lauderdale	663,538	-	663,538	1.03%	14.40	Toys “R” Us/Babies “R” Us
Estero Town Commons4	FL	Naples	470,885	750,000	1,220,885	1.90%	27.68	Lowe's Home Improvement
Indian River Square	FL	Vero Beach	1,449,613	-	1,449,613	2.25%	10.30	Beall's, Office Depot, Target (non-owned), Lowe's Home Improvement (non-owned)
International Speedway Square	FL	Daytona	2,162,185	405,471	2,567,657	3.99%	9.99	Bed Bath & Beyond, Stein Mart, Old Navy, Staples, Michaels, Dick’s Sporting Goods
King's Lake Square	FL	Naples	1,000,305	-	1,000,305	1.55%	12.93	Publix, Retro Fitness
Litha Crossing	FL	Tampa	1,094,867	71,996	1,166,863	1.81%	14.06	Stein Mart
Pine Ridge Crossing	FL	Naples	1,614,941	-	1,614,941	2.51%	15.87	Publix, Target (non-owned), Beall's (non-owned)
Riverchase Plaza	FL	Naples	1,048,296	-	1,048,296	1.63%	14.01	Publix
Shops at Eagle Creek	FL	Naples	609,493	55,104	664,597	1.03%	16.23	Staples, Lowe’s Home Improvement (non-owned)
Tarpon Springs Plaza	FL	Naples	1,609,167	100,000	1,709,167	2.66%	20.49	Cost Plus, A C Moore, Staples, Target (non-owned)
Wal-Mart Plaza	FL	Gainesville	919,171	-	919,171	1.43%	5.46	Books-A-Million, Save-A-Lot, Wal-Mart
Waterford Lakes Village	FL	Orlando	942,585	-	942,585	1.47%	12.29	Winn-Dixie
Kedron Village	GA	Atlanta	2,465,272	-	2,465,272	3.83%	17.25	Bed Bath & Beyond, Ross, PETCO, Target (non-owned)
Publix at Acworth	GA	Atlanta	731,761	-	731,761	1.14%	11.56	Publix
The Centre at Panola	GA	Atlanta	868,902	-	868,902	1.35%	12.11	Publix
Fox Lake Crossing	IL	Chicago	1,164,371	-	1,164,371	1.81%	13.15	Dominick's Finer Foods, Dollar Tree
Naperville Marketplace	IL	Chicago	993,744	-	993,744	1.54%	12.34	TJ Maxx, PetSmart, Caputo’s (non-owned)
South Elgin Commons	IL	Chicago	843,750	-	843,750	1.31%	18.75	LA Fitness, Target (non-owned)
50 South Morton	IN	Indianapolis	126,000	-	126,000	0.20%	63.00
54th & College	IN	Indianapolis	-	260,000	260,000	0.40%	-	The Fresh Market (non-owned)
Beacon Hill	IN	Crown Point	622,441	-	622,441	0.97%	14.89	Strack & Van Til (non-owned), Walgreens (non-owned)
Boulevard Crossing	IN	Kokomo	1,558,315	-	1,558,315	2.42%	13.55	PETCO, TJ Maxx, Ulta Salon, Kohl's (non-owned)
Bridgewater Marketplace	IN	Indianapolis	275,517	-	275,517	0.43%	17.22	Walgreens (non-owned)
Cool Creek Commons	IN	Indianapolis	1,926,598	-	1,926,598	2.99%	16.49	The Fresh Market, Stein Mart, Cardinal Fitness
Eddy Street Commons	IN	South Bend	1,858,922	-	1,858,922	2.89%	22.91	Hammes Bookstore, Urban Outfitters
Fishers Station	IN	Indianapolis	1,196,094	-	1,196,094	1.86%	10.99	Marsh Supermarkets, Goodwill, Dollar Tree
Geist Pavilion	IN	Indianapolis	943,497	-	943,497	1.47%	17.59	Partytree Superstore, Ace Hardware
Glendale Town Center	IN	Indianapolis	2,500,717	-	2,500,717	3.89%	6.35	Macy’s, Landmark Theatres, Staples, Indianapolis Library, Lowe's Home Improvement (non-owned), Target (non-owned), Walgreens (non-owned)
Greyhound Commons	IN	Indianapolis	-	221,748	221,748	0.34%	-	Lowe's Home Improvement (non-owned)
Hamilton Crossing Centre	IN	Indianapolis	1,347,708	78,650	1,426,358	2.22%	18.05	Office Depot
Martinsville Shops	IN	Martinsville	122,139	-	122,139	0.19%	11.12	Walgreens (non-owned)
Red Bank Commons	IN	Evansville	319,264	-	319,264	0.50%	14.09	Wal-Mart (non-owned), Home Depot (non-owned)

____________________
1	Annualized Base Rent Revenue represents the contractual rent for June 2011 for each applicable property, multiplied by 12. This table does not include Annualized Base Rent from development property tenants open for business as of June 30, 2011.
2	Owned GLA represents gross leasable area that is owned by the Company. Total GLA includes Owned GLA, square footage attributable to non-owned anchor space and non-owned structures on ground leases.
3	Represents the three largest tenants that occupy at least 10,000 square feet of GLA at the property, including non-owned anchors.
4	A third party manages this property.

Kite Realty Group Trust Supplemental Financial and Operating Statistics –6/30/11

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OPERATINGRETAIL PROPERTIES - TABLE II (CONTINUED)

Property	State	MSA	Annualized Base Rent Revenue1	Annualized Ground  Lease  Revenue	Annualized Total Retail Revenue	Percentage of Annualized Total Retail Revenue	Base Rent Per Leased Owned GLA2	Major Tenants and Non-Owned Anchors3
Stoney Creek Commons	IN	Indianapolis	$464,755	$            -	$464,755	0.72%	$9.42	HH Gregg , Office Depot, Lowe's Home Improvement (non-owned)
The Corner	IN	Indianapolis	652,784	-	652,784	1.01%	15.30	Hancock Fabrics
Traders Point	IN	Indianapolis	4,105,350	435,000	4,540,350	7.06%	14.68	Dick's Sporting Goods, AMC Theatre, Marsh, Bed Bath & Beyond, Michaels, Old Navy, PetSmart
Traders Point II	IN	Indianapolis	753,416	-	753,416	1.17%	26.16
Whitehall Pike	IN	Bloomington	1,014,000	-	1,014,000	1.58%	7.86	Lowe's Home Improvement
Zionsville Place	IN	Indianapolis	246,004	-	246,004	0.38%	19.84
Ridge Plaza	NJ	Oak Ridge	1,533,775	-	1,533,775	2.38%	16.40	A&P Grocery, CVS
Eastgate Pavilion	OH	Cincinnati	2,119,766	-	2,119,766	3.30%	8.97	Best Buy, Dick's Sporting Goods, Value City Furniture, PetSmart, DSW
Cornelius Gateway	OR	Portland	264,744	-	264,744	0.41%	19.93	Fedex/Kinkos
Shops at Otty	OR	Portland	280,714	136,300	417,014	0.65%	28.51	Wal-Mart (non-owned)
Burlington Coat Factory	TX	San Antonio	537,000	-	537,000	0.83%	5.00	Burlington Coat Factory
Cedar Hill Village	TX	Dallas	723,651	-	723,651	1.12%	17.37	24 Hour Fitness, JC Penney (non-owned)
Market Street Village	TX	Hurst	1,814,721	33,000	1,847,721	2.87%	11.59	Jo-Ann Fabric, Ross, Office Depot, Buy Buy Baby
Plaza at Cedar Hill	TX	Dallas	3,285,703	-	3,285,703	5.11%	12.61	Hobby Lobby, Office Max, Ross, Marshalls, Sprouts Farmers Market, Toys“R”Us/Babies“R”Us
Plaza Volente	TX	Austin	2,134,404	110,000	2,244,404	3.49%	15.00	H-E-B Grocery
Preston Commons	TX	Dallas	525,468	-	525,468	0.82%	24.65	Lowe's Home Improvement (non-owned)
Sunland Towne Centre	TX	El Paso	3,093,381	104,809	3,198,191	4.97%	10.35	PetSmart, Ross, HMY Roomstore, Kmart, Bed Bath & Beyond, Specs Fine Wines
50th & 12th	WA	Seattle	475,000	-	475,000	0.74%	32.76	Walgreens
Gateway Shopping Center	WA	Seattle	2,113,445	144,000	2,257,445	3.51%	22.42	PetSmart, Ross, Rite Aid, Party City, Kohl’s (non-owned), Winco (non-owned)
Sandifur Plaza	WA	Pasco	196,320	-	196,320	0.31%	18.96	Walgreens (non-owned)
		Total	$61,426,480	$2,906,079	$64,332,559	100%	$12.86

See prior page for footnote disclosure.

Kite Realty Group Trust Supplemental Financial and Operating Statistics –6/30/11

p. 35

OPERATINGCOMMERCIAL PROPERTIES

As of June 30, 2011

Property	MSA	Year Built/ Renovated	Acquired, Redeveloped or Developed	Owned NRA	Percentage Of Owned NRA Leased	Annualized Base Rent1		Percentage of Annualized Commercial Base Rent	Base Rent Per Leased Sq. Ft.		Major Tenants
Indiana
30 South2	Indianapolis	1905/2002	Redeveloped	298,346	87.0%	$	4,633,646	64.2%	$	17.85	Indiana Supreme Court, City Securities, Kite Realty Group, Lumina Foundation
Pen Products	Indianapolis	2003	Developed	85,875	100.0%		834,705	11.6%		9.72	Indiana Dept. of Administration
Union Station Parking Garage3	Indianapolis	1986	Acquired	N/A	N/A		N/A	N/A		N/A	Denison Parking
Indiana State Motorpool	Indianapolis	2004	Developed	115,000	100.0%		639,400	8.9%		5.56	Indiana Dept. of Administration
Eddy Street Office (part of Eddy Street Commons) 4	South Bend	2009	Developed	81,628	100.0%		1,108,721	15.4%		13.58	University of Notre Dame Offices
TOTAL				580,849	93.3%	$	7,216,472	100.0%	$	13.31

____________________
1	Annualized Base Rent represents the monthly contractual rent for June 2011 for each applicable property, multiplied by 12.
2	Annualized Base Rent includes $779,507 from the Company and subsidiaries as of June 30, 2011.
3	The garage is managed by a third party.
4	The Company also owns a 50% interest in an unconsolidated limited service hotel at Eddy Street Commons in South Bend, Indiana along with a parking garage that serves the hotel and the office and retail components of the property.

Kite Realty Group Trust Supplemental Financial and Operating Statistics –6/30/11

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RETAIL OPERATINGPORTFOLIO - TENANT BREAKDOWN 1

As of June 30, 2011

	Owned Gross Leasable Area				Percent of Owned GLA Leased			Annualized Base Rent1				Annualized Base Rent per Leased Sq. Ft.
Property	State	Anchors	Shops	Total	Anchors	Shops	Total	Anchors	Shops	Ground Lease	Total	Anchors	Shops	Total
Bayport Commons	FL	71,563	25,549	97,112	100.0%	76.5%	93.8%	$1,107,187	$534,832	$            -	$1,642,019	$15.48	$27.28	$18.02
Coral Springs Plaza	FL	46,079	-	46,079	100.0%	0.0%	100.0%	663,538	-	-	663,538	14.40	-	14.40
Estero Town Commons	FL	-	25,631	25,631	0.0%	66.4%	66.4%	-	470,885	750,000	1,220,885	-	27.68	27.68
Indian River Square	FL	116,342	27,904	144,246	100.0%	87.5%	97.6%	973,085	476,528	-	1,449,613	8.36	19.53	10.30
International Speedway Square	FL	212,995	17,000	229,995	95.5%	76.5%	94.1%	1,933,185	229,000	405,471	2,567,657	9.50	17.62	9.99
King's Lake Square	FL	49,805	35,692	85,497	100.0%	77.3%	90.5%	358,890	641,415	-	1,000,305	7.21	23.25	12.93
Lithia Crossing	FL	36,000	45,504	81,504	100.0%	92.0%	95.6%	234,000	860,867	71,996	1,166,863	6.50	20.55	14.06
Pine Ridge Crossing	FL	66,351	39,164	105,515	100.0%	90.4%	96.4%	627,628	987,313	-	1,614,941	9.46	27.88	15.87
Riverchase Plaza	FL	48,890	29,490	78,380	100.0%	88.0%	95.5%	386,231	662,064	-	1,048,296	7.90	25.51	14.01
Shops at Eagle Creek	FL	51,703	20,568	72,271	49.3%	58.7%	52.0%	356,678	252,815	55,104	664,597	14.00	20.94	16.23
Tarpon Springs Plaza	FL	60,151	22,396	82,547	100.0%	82.1%	95.1%	1,144,008	465,159	100,000	1,709,167	19.02	25.31	20.49
Wal-Mart Plaza	FL	138,323	39,503	177,826	100.0%	75.8%	94.6%	561,479	357,692	-	919,171	4.06	11.94	5.46
Waterford Lakes Village	FL	51,703	26,245	77,948	100.0%	95.3%	98.4%	408,452	534,133	-	942,585	7.90	21.35	12.29
Kedron Village	GA	68,845	88,564	157,409	100.0%	83.6%	90.8%	849,648	1,615,624	-	2,465,272	12.34	21.82	17.25
Publix at Acworth	GA	37,888	31,740	69,628	100.0%	80.2%	91.0%	337,203	394,557	-	731,761	8.90	15.51	11.56
The Centre at Panola	GA	51,674	21,405	73,079	100.0%	93.9%	98.2%	413,392	455,510	-	868,902	8.00	22.66	12.11
Fox Lake Crossing	IL	65,977	33,095	99,072	100.0%	68.1%	89.4%	775,230	389,141	-	1,164,371	11.75	17.26	13.15
Naperville Marketplace	IL	61,683	22,075	83,758	100.0%	85.4%	96.1%	702,879	290,865	-	993,744	11.40	15.43	12.34
South Elgin Commons	IL	45,000	-	45,000	100.0%	0.0%	100.0%	843,750	-	-	843,750	18.75	-	18.75
50 South Morton	IN	-	2,000	2,000	0.0%	100.0%	100.0%	-	126,000	-	126,000	-	63.00	63.00
54th & College	IN	-	-	-	0.0%	0.0%	0.0%	-	-	260,000	260,000	-	-	-
Beacon Hill	IN	11,043	46,148	57,191	100.0%	66.7%	73.1%	132,516	489,925	-	622,441	-	15.92	14.89
Boulevard Crossing	IN	73,440	50,256	123,696	100.0%	82.7%	93.0%	862,900	695,415	-	1,558,315	11.75	16.73	13.55
Bridgewater Marketplace	IN	-	25,975	25,975	0.0%	61.6%	61.6%	-	275,517	-	275,517	-	17.22	17.22
Cool Creek Commons	IN	63,600	60,978	124,578	100.0%	87.3%	93.8%	643,200	1,283,398	-	1,926,598	10.11	24.10	16.49
Eddy Street Commons	IN	20,154	67,608	87,762	100.0%	90.2%	92.5%	342,618	1,516,304	-	1,858,922	17.00	24.86	22.91
Fishers Station	IN	72,212	44,673	116,885	100.0%	82.0%	93.1%	705,907	490,188	-	1,196,094	9.78	13.38	10.99
Geist Pavilion	IN	27,955	36,159	64,114	100.0%	71.0%	83.7%	396,184	547,313	-	943,497	14.17	21.32	17.59
Glendale Town Center	IN	329,588	73,610	403,198	100.0%	87.1%	97.6%	1,244,313	1,256,404	-	2,500,717	3.78	19.60	6.35
Greyhound Commons	IN	-	-	-	0.0%	0.0%	0.0%	-	-	221,748	221,748	-	-	-
Hamilton Crossing Centre	IN	30,722	51,702	82,424	100.0%	85.0%	90.6%	345,623	1,002,085	78,650	1,426,358	11.25	22.81	18.05
Martinsville Shops	IN	-	10,986	10,986	0.0%	100.0%	100.0%	-	122,139	-	122,139	-	11.12	11.12
Red Bank Commons	IN	-	34,308	34,308	0.0%	66.0%	66.0%	-	319,264	-	319,264	-	14.09	14.09
Stoney Creek Commons	IN	49,330	-	49,330	100.0%	0.0%	100.0%	464,755	-	-	464,755	9.42	-	9.42
The Corner	IN	12,200	30,460	42,660	100.0%	100.0%	100.0%	88,450	564,334	-	652,784	7.25	18.53	15.30
Traders Point	IN	238,721	40,953	279,674	100.0%	100.0%	100.0%	3,134,370	970,980	435,000	4,540,350	13.13	23.70	14.68
Traders Point II	IN	-	46,600	46,600	0.0%	61.8%	61.8%	-	753,416	-	753,416	-	26.16	26.16
Whitehall Pike	IN	128,997	-	128,997	100.0%	0.0%	100.0%	1,014,000	-	-	1,014,000	7.86	-	7.86
Zionsville Place	IN	-	12,400	12,400	0.0%	100.0%	100.0%	-	246,004	-	246,004	-	19.84	19.84
Ridge Plaza	NJ	69,612	45,451	115,063	100.0%	52.6%	81.3%	997,762	536,013	-	1,533,775	14.33	22.41	16.40
Eastgate Pavilion	OH	231,730	4,500	236,230	100.0%	100.0%	100.0%	1,987,016	132,750	-	2,119,766	8.57	29.50	8.97
Cornelius Gateway	OR	-	21,324	21,324	0.0%	62.3%	62.3%	-	264,744	-	264,744	-	19.93	19.93
Shops at Otty	OR	-	9,845	9,845	0.0%	100.0%	100.0%	-	280,714	136,300	417,014	-	28.51	28.51
Burlington Coat Factory	TX	107,400	-	107,400	100.0%	0.0%	100.0%	537,000	-	-	537,000	5.00	-	5.00
Cedar Hill Village	TX	32,231	12,031	44,262	100.0%	78.4%	94.1%	531,812	191,840	-	723,651	16.50	20.34	17.37
Market Street Village	TX	136,746	19,879	156,625	100.0%	100.0%	100.0%	1,347,532	467,190	33,000	1,847,721	9.85	23.50	11.59
Plaza at Cedar Hill	TX	227,106	72,741	299,847	89.0%	80.5%	86.9%	2,102,687	1,183,016	-	3,285,703	10.41	20.19	12.61
Plaza Volente	TX	105,000	51,333	156,333	100.0%	72.6%	91.0%	1,155,000	979,404	110,000	2,244,404	11.00	26.29	15.00
Preston Commons	TX	-	27,539	27,539	0.0%	77.4%	77.4%	-	525,468	-	525,468	-	24.65	24.65
Sunland Towne Centre	TX	265,006	42,468	307,474	100.0%	79.8%	97.2%	2,324,477	768,905	104,809	3,198,191	8.77	22.68	10.35
50th & 12th	WA	14,500	-	14,500	100.0%	0.0%	100.0%	475,000	-	-	475,000	32.76	-	32.76
Gateway Shopping Center	WA	74,639	24,805	99,444	100.0%	79.1%	94.8%	1,497,779	615,666	144,000	2,257,445	20.06	31.36	22.42
Sandifur Plaza	WA	-	12,552	12,552	0.0%	82.5%	82.5%	-	196,320	-	196,320	-	18.96	18.96
	Total	3,602,904	1,530,809	5,133,713	98.3%	80.6%	93.0%	$35,007,363	$26,419,117	$2,906,079	$64,332,559	$9.88	$21.40	$12.86

____________________
1	This table does not include annualized base rent from development property tenants open for business as of June 30, 2011.

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