INDIANAPOLIS, May 29, 2020 (GLOBE NEWSWIRE) — Kite Realty Group Trust (NYSE:KRG) announced today the implementation of its Re-Opening Resources program. KRG has launched a series of initiatives across its portfolio to help its retail, restaurant, and service tenants navigate the process of re-opening their businesses.
“Throughout KRG’s portfolio, our tenants have worked hard to adapt to a very fluid environment,” said John Kite, Chairman and CEO of Kite Realty Group. “As re-openings continue, we are encouraged by the effort and ingenuity that businesses have displayed at all of our centers, and we will continue to seek creative opportunities to support our retailers.”KRG efforts underway include:Priority Pick-Up Parking Program: Designated Order Pick-Up parking zones are being professionally installed for use by all tenantsContactless Locker Systems: A contactless BOPAC (Buy Online Pick Up At Center) locker program is being piloted at select centers for small-shop transactional useShopper Safety: Professional sidewalk queue signage is being provided to promote social distancing where needed, and hand sanitizer bottles are being delivered to small-shop tenants for customer useKite Retail Community Forum: KRG’s online tenant community forum is focused on re-opening efforts and strategy, with content provided by Tenant Mentorship, a third-party advisory companyKRG Small Business Loan (SBL) Program: KRG created the SBL program to provide supplemental access to funds for small-business tenantsWithin the SBL program, KRG has approved an initial amount of $2.4 million in funding for small-business tenants. The SBL program provides expedited, low-interest loans of up to three months of operating expenses with the goal of providing these tenants with the resources necessary to survive the crisis and confidently reemerge. Full program details can be found here.A Re-Opening Resources page has also been set up on KRG’s website to provide helpful information to tenants over the coming weeks. You can find the page here, or by visiting kiterealty.com.About Kite Realty Group Trust:Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust (REIT) that provides communities with convenient and beneficial shopping experiences. We connect consumers to retailers in desirable markets through our portfolio of neighborhood, community, and lifestyle centers. Using operational, development, and redevelopment expertise, we continuously optimize our portfolio to maximize value and return to our shareholders. As of March 31, 2020, KRG owned interests in 90 operating and redevelopment properties totaling approximately 17.5 million square feet and one development project (0.5 million square feet) currently under construction. For more information, please visit kiterealty.com.Connect with KRG: LinkedIn | Twitter | Instagram | FacebookContact Information: Kite Realty Group Trust
Bryan McCarthy
SVP, Marketing & Communications
317.713.5692
bmccarthy@kiterealty.com
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