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): March 12, 2012

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 7.01. Regulation FD Disclosure.

Kite Realty Group Trust (the “Company”) intends to distribute copies of certain printed materials (the “Materials”) to analysts, institutional investors and other persons in connection with meetings to be held by the Company on March 12, 2012.  A copy of these Materials is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein solely for purposes of this Item 7.01 disclosure.

The Materials contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the Company intends that these forward-looking statements be subject to the safe harbors created thereby. These forward-looking statements are not historical facts, but rather are predictions and generally can be identified by use of statements that include phrases such as “believe,” “expect,” “anticipate,” “estimate,” “intend,” “plan,” “foresee,” “looking ahead,” “is confident,” “should be,” “will,” “predicted,” “likely” or other words or phrases of similar import. Similarly, statements that describe or contain information related to matters such as the Company’s intent, belief or expectation with respect to its financial performance, investment strategy and portfolio, cash flows, growth prospects and distribution rates and amounts are forward-looking statements. These forward-looking statements often reflect a number of assumptions and involve known and unknown risks, uncertainties and other factors that could cause the Company’s actual results to differ materially from those currently anticipated in these forward-looking statements. In light of these risks and uncertainties, the forward-looking events might or might not occur, which may affect the accuracy of forward-looking statements and cause the actual results of the Company to be materially different from any future results expressed or implied by such forward-looking statements. Certain factors that could cause actual results to differ materially from these forward-looking statements are listed from time to time in the Company’s Securities and Exchange Commission reports, including, but not limited to, the annual report on Form 10-K for the fiscal year ended December 31, 2011. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

The information in this Item 7.01 disclosure, including Exhibit 99.1, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities under that Section. In addition, the information in this Item 7.01 disclosure, including Exhibit 99.1, shall not be incorporated by reference into the filings of the Company under the Securities Act or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01. Financial Statements and Exhibits.

(a) Not applicable.

(b) Not applicable.

(c) Not applicable.

(d) Exhibits.

Exhibit Number	Description
99.1	Presentation Materials of Kite Realty Group Trust, dated March 12, 2012

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: March 12, 2012	By:	/s/ Daniel R. Sink
		Daniel R. Sink
		Executive Vice President and
		Chief Financial Officer

EXHIBIT INDEX

Exhibit Number	Description
99.1	Presentation Materials of Kite Realty Group Trust, dated March 12, 2012

EX-99.1

Investors and Analysts

PRESENTED TO:

3.2012

KITE HEADQUARTERSIndianapolis, IN

KITE REALTY GROUP

2

DISCLAIMER

This presentation 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
slowing of growth in the U.S. economy; 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; assumptions underlying our anticipated growth sources; and
other factors affecting the real estate industry generally. The Company refers you to 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, 2011, 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.

3

COMPANY OVERVIEW

•Stable Operating Portfolio	• 54 Properties in the Retail Operating Portfolio; 93.3% leased • Diverse tenant base:Largest tenant represents only 2.9% of annualized base rent • 5 mile demographics:Population - 126,000; Average Household Income - $85,000
•Increased Leasing & Operating Productivity	•Over 840,000 square feet of leasing production in 2011 at aggregate rent spreads of 6.3% •9 consecutive quarters of positive cash rent spreads •Same property net income for the fourth quarter of 2011 increased 5.7% over the prior year and 3.7% for the full year 2011 compared to 2010. •Average annualized retail operating portfolio rents per square foot grew 3.3% from the previous quarter. •Revenue from property operations increased 13.8% in the fourth quarter over the same period in the prior year.
•Development & Redevelopment Progress	•Commenced construction at Delray Marketplace in Delray Beach, Florida. •Transitioned Four Corner/Maple Valley in Seattle, Washington and New Hill Place Phase I near Raleigh, North Carolina to in-process developments.Construction is expected to commence in the first half of 2012. •Scheduled to open Whole Foods at Oleander Point in Wilmington, North Carolina in May 2012. •Commenced construction of a single-tenant property in Indianapolis, Indiana that is leased to Walgreens.
•Cash NOI Growth Potential	•$5.9 million of annualized cash NOI (see page 21).

Information as of December 31, 2011

LEASING

5

PORTFOLIO SAME STORE NOI TRENDS

KITE REALTY GROUP

6

LEASED PERCENTAGES: RETAIL OPERATING PORTFOLIO

KITE REALTY GROUP

RENT SPREADS

KITE REALTY GROUP

7

	2011	2010	2009
New Leases	8.6%	9.8%	4.4%
Renewals	2.9%	<3.5%>	<0.8%>
Weighted Total	6.4%	5.1%	2.1%

Cash Rent Spreads

•Nine consecutive quarters of positive aggregate rent spreads

8

•Company-wide focus on leasing the portfolio to high-credit tenants.

•Total annual production (square feet):

•2009 - 673,000

•2010 - 1,100,600

•2011 - 842,200

Total Leasing Production - New and Renewal Leases

By Quarter (square feet)

LEASING - ACTIVITY

KITE REALTY GROUP

RETAIL RELATIONSHIPS

Recent Retail Relationships

•National Retailers:Nordstrom Rack / The Container Store / Arhaus Furniture / Whole Foods /
Fresh Market / Advanced Auto / Babies “R” Us and Toys “R” Us / Ulta / Urban Outfitters /
Vitamin Shoppe / buybuy Baby / Apricot Lane / Bobby Chan / Chico’s / Dollar Tree / Goodwill
/ White House | Black Market / JoS. A. Bank

•Restaurants:BJ’s Brewhouse / Buffalo Wild Wings / Corner Bakery / Jason’s Deli /Pei Wei /
Max’s Grille / Shula Burger / Brother’s Bar & Grill

KITE REALTY GROUP

9

DIVERSE TENANT BASE

Quality Retail Tenants

KITE REALTY GROUP

10

(1)Annualized base rent represents the monthly contractual rent for December 2011 for each applicable tenant multiplied by 12.Excludes tenant reimbursements.

(2)S&P credit ratings for parent company as of 1/20/2012.

Information as of December 31, 2011

DEVELOPMENT/REDEVELOPMENT

KITE REALTY GROUP

12

DELRAY MARKETPLACEDelray Beach, Florida

In-Process Development

•Including anchors Publix and Frank
Theatres, we currently have 24
executed leases.The center is
approximately 72% pre-leased or
committed.

•Commenced construction in the 4th
quarter of 2011.

•Closed on a $62 million construction
loan in November 2011.

•The $93 million project is scheduled
to open in November 2012.

KITE REALTY GROUP

13

NEW HILL PLACEHolly Springs, North Carolina

In-Process Development

•Closed on the sale of land to, and
entered into a site development
agreement with, Target in February
2012.

•The $57 million development is
approximately 73% pre-leased or
committed including Dick’s Sporting
Goods, Marshall’s, Michael’s, and Petco.

•Phase I of New Hill Place is scheduled
to commence construction in spring,
2012 after finalizing construction loan.

•Phase I of the development is
scheduled to open in spring, 2013.

KITE REALTY GROUP

14

FOUR CORNER/MAPLE VALLEYMaple Valley, Washington

In-Process Development/Redevelopment

•Commenced construction at the end of
February 2012.

•Three anchor leases for 80,000 square feet
are fully executed with Grocery Outlet,
Johnson’s Home & Garden, and Walgreens.

•Construction loan to be finalized prior to
construction commencement.

•The $24 million project is scheduled to
partially open in late 2012.

KITE REALTY GROUP

15

OLEANDER POINTWilmington, North Carolina

In-Process Redevelopment

•KRG turned over the space to a
newly constructed Whole Foods
during the 4th quarter with an
openingscheduled for May
2012.

•The project is 86% pre-leased or
committed as of December 31,
2011.

Before

After

After

KITE REALTY GROUP

16

HIGH QUALITY RECENTLY COMPLETED REAL ESTATE

Rivers Edge

•Successfully redeveloped and was
100% leased as of December 31,
2011.

•Anchored by Nordstrom Rack, The
Container Store, buybuy Baby, Arhaus
Furniture, and BGI Fitness.

Eddy Street Commons

•Successfully developed and was
96.8% leased as of December 31,
2011.

•Anchored by Urban Outfitters,
Hammes Bookstore, and University
of Notre Dame

KITE REALTY GROUP

17

HIGH QUALITY RECENTLY COMPLETED REAL ESTATE

Cobblestone Plaza

•Successfully developed and was
92.2% leased as of December 31,
2011.

•Anchored by Whole Foods, Party City,
and All Pets Emporium.

South Elgin Commons

•Successfully developed and was
100% leased as of December 31,
2011.

•Anchored by LA Fitness, Toys “R”
Us/Babies “R” Us, Ross Stores and
a non-owned Super Target.

BALANCE SHEET

KITE REALTY GROUP

19

DEBT AND CAPITAL MARKETS UPDATE

Primary Debt Capital Market Initiatives

•Manage fixed to floating ratio to a goal of 80%/20% (w/construction loan debt).

•Capitalize on low long-term interest rate environment.

•De-levering in process through NOI growth and non-core asset sales.

Significant 2012 Planned Debt Transactions

•Refinance Plaza at Cedar Hill and Fox Lake Crossing

•Secure long-term financing at Cobblestone Plaza and Rivers Edge

•Finalize construction loans for development at Four Corner Square/Maple Valley
and New Hill Place - Phase I.

KITE REALTY GROUP

20

SCHEDULE OF DEBT MATURITIES

Extend duration of maturities while continuing to stagger debt maturities to mitigate risk.

Information as of December 31, 2011

(1)Chart excludes annual principal payments and net premiums on fixed rate debt.

(2)Assumes the Company exercises the one year extension option on unsecured line of credit.

(3)As of March 9, 2012, only $10.8 million remaining.

KITE REALTY GROUP

21

NOI GROWTH POTENTIAL THROUGH INCREMENTAL CASH NOI

•NOI growth potential through continued cash rent commencement from
executed leases at operating properties and in-process development and
redevelopment properties.

•Continue to improve our debt-to-EBITDA level as tenants who have
executed leases take occupancy.

Information as of December 31, 2011