RPAI - PROPERTS OF AMER （）

INDIANAPOLIS, Oct. 22, 2021 (GLOBE NEWSWIRE) -- Kite Realty Group Trust (NYSE: KRG), a premier owner and operator of high-quality open-air, grocery-anchored shopping centers, announced today the completion of its previously announced merger with Retail Properties of America, Inc. (NYSE: RPAI), a first-class owner and operator of high-quality open-air and mixed-use shopping centers, whereby RPAI merged into a subsidiary of KRG, with KRG continuing as the surviving public company. The combined high-quality, open-air portfolio is a mixture of predominantly necessity-based, grocery-anchored neighborhood and community centers, combined with vibrant mixed-use assets. The merger serves to more than double KRGs presence in high-growth warmer and cheaper markets, while also introducing and enhancing KRGs presence in strategic gateway markets. The merger is not only expected to be immediately FFO and NAV accretive, but the combined company has additional opportunities to further increase shareholder value including optimizing NOI margins, leasing of pandemic-related vacancy, lowering the companys cost of capital, and completing select developments.

Equities analysts expect Retail Properties of America, Inc. (NYSE:RPAI) to report sales of $113.18 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Retail Properties of Americas earnings, with estimates ranging from $110.16 million to $118.91 million. Retail Properties of America reported sales of $107.36 million in []

INDIANAPOLIS and OAK BROOK, Ill., Oct. 19, 2021 (GLOBE NEWSWIRE) -- Kite Realty Group Trust (NYSE: KRG ), a premier owner and operator of open-air, grocery-anchored shopping centers, and Retail Properties of America, Inc. (NYSE: RPAI ), a first-class owner and operator of high-quality, open-air and mixed-use shopping centers, announced today that KRG shareholders and RPAI stockholders approved all of the proposals necessary for the closing of the previously announced merger of RPAI into a subsidiary of KRG, with KRG continuing as the surviving public company. At the special meeting of KRG shareholders, approximately 99.7% of the votes were cast for the approval of the issuance of common shares to RPAI stockholders in the merger, which represented approximately 88.0% of the outstanding shares of KRG common stock. At the special meeting of RPAI stockholders, approximately 98.1% of the votes were cast for the approval of the merger agreement and the merger, which represented approximately 79.7% of the outstanding shares of RPAI common stock.