NEW
YORK, Dec. 10, 2024 /PRNewswire/
-- Fifth Wall, the largest asset manager focused on
improving, future-proofing, and decarbonizing the built world, has
announced today that Kite Realty Group (NYSE: KRG), a
premier owner-operator of open-air shopping centers and mixed-use
assets, committed to invest in Fifth Wall. This investment
underscores Kite Realty Group's dedication to leveraging
operational and investment expertise to continually optimize its
portfolio for maximum value creation and shareholder return.
"At KRG, we are extremely conscious of real estate's
ever-evolving landscape, viewing innovation as critical to the
success of our platform," said John
Kite, Chairman and Chief Executive Officer, Kite
Realty Group. "Partnering with Fifth Wall will provide us with
exceptional access to cutting-edge technologies — leveraging their
in-depth expertise in asset resilience, while allowing us to
adeptly integrate AI and other advanced management tools to enhance
efficiency across our portfolio."
Publicly listed since 2004, Kite Realty Group is a real estate
investment trust with a portfolio primarily comprised of
grocery-anchored assets in high-growth Sun Belt and strategic
gateway markets. The combination of necessity-based neighborhood
and community centers, along with vibrant mixed-use assets, creates
an optimal national platform for retailers and consumers.
"Fifth Wall's investment performance has been fueled by our
extensive network of strategic investors across the real estate
industry," shared Brendan
Wallace, Chief Executive Officer and Chief Investment
Officer of Fifth Wall. "The addition of Kite Realty Group to our
growing consortium of 110-plus strategic Limited Partners further
enhances the distribution and revenue potential for Fifth Wall's
portfolio investments."
Kite Realty Group joins Fifth Wall's expansive consortium of
more than 110 strategic Limited Partners across more than 20
countries and every major asset class, representing the largest
owner-operators of real estate globally, focused on scaling
breakthrough tech that will ensure the future of the built world is
more efficient, sustainable and resilient.
"We're thrilled to welcome John and his team to our Limited
Partner network," said Jeremy
Fox, Co-President of Fifth Wall. "Kite's sixty years of
experience in developing, constructing, and operating real estate
make them an invaluable asset to each of their retailers,
stakeholders, consumers, and now our consortium. Our partnership
highlights their tireless work to maximize value across their
operating portfolio of 179 U.S. open-air shopping centers and
mixed-use assets spanning over 28 million square feet. We look
forward to helping them continue to optimize their assets."
About Kite Realty Group
Kite Realty Group (NYSE: KRG)
is a real estate investment trust (REIT) a premier owner and
operator of open-air shopping centers and mixed-use assets. The
Company's primarily grocery-anchored portfolio is located in
high-growth Sun Belt and select strategic gateway markets. The
combination of necessity-based neighborhood and community centers,
along with vibrant mixed-use assets, makes the KRG portfolio an
ideal platform for both retailers and consumers. Publicly listed
since 2004, KRG has over 60 years of experience in developing,
constructing, and operating real estate. Using operational,
investment, development, and redevelopment expertise, KRG
continuously optimizes its portfolio to maximize value and return
to shareholders. For more information, please visit
www.kiterealty.com.
About Fifth Wall
Founded in 2016, Fifth Wall, a
Certified B. Corp, is the largest asset manager focused on
improving, future-proofing and decarbonizing the built world. With
approximately $3B in commitments and
capital under management, Fifth Wall is backed by a global mix of
110+ strategic limited partners from 20+ countries, including BNP
Paribas Real Estate, British Land, CBRE, Cushman & Wakefield,
Hilton, Hines, Host Hotels and Resorts, Kimco Realty Corporation,
Lennar, Marriott International, MetLife Investment Management, MGM
Resorts, Related Companies, Starwood Capital, and Toll Brothers,
amongst others. This consortium represents one of the largest
groups of potential partners in the global built world ecosystem,
resulting in transformational investments and collaboration with
portfolio companies to cut emissions, to improve efficiency, and to
maximize returns. Founded in Los
Angeles and headquartered in New
York City, Fifth Wall's other offices include San Francisco, London and Singapore. For more about Fifth Wall, its
Limited Partners, and portfolio,
visit www.fifthwall.com.
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SOURCE Fifth Wall