KRG vs MDRR

KRG Core

Annual filing released 2025-02-12 · GPT 6 Luna

ITEM 1. BUSINESS Unless the context suggests otherwise, references to “we,” “us,” “our” or the “Company” refer to Kite Realty Group Trust and our business and operations conducted through our directly or indirectly owned subsidiaries, including Kite Realty Group, L.P., our operating partnership (the “Operating Partnership”). Overview Kite Realty Group Trust is a publicly held REIT that, through its majority-owned subsidiary, Kite Realty Group, L.P., owns interests in various operating subsidiaries and joint ventures engaged in the ownership, operation, acquisition, development, and redevelopment of high-quality, open-air, grocery-anchored shopping centers and vibrant mixed-use assets that are primarily located in high-growth Sun Belt markets and select strategic gateway markets in the United States. Following our merger with Retail Properties of America, Inc.

(“RPAI”) in 2021, we became a top-five open-air shopping center REIT based upon market capitalization. We derive our revenue primarily from the collection of contractual rents and reimbursement payments from tenants under existing lease agreements at each of our properties. Therefore, our operating results depend materially on, among other things, the ability of our tenants to make required lease payments, the health and resilience of the U.S. retail sector, interest rate volatility, stability in the banking sector, job growth, the real estate market, and overall economic conditions. As of December 31, 2024, we owned interests in 179 operating retail properties totaling approximately 27.7 million square feet, excluding one operating retail property classified as held for sale as of December 31, 2024, and two office properties with 0.4 million square feet.

MDRR Core

Annual filing released 2025-02-27 · GPT 6 Luna

PART I ITEM 1.BUSINESS As used in this Annual Report, unless the context otherwise requires, references to “we,” “our,” “us,” and “our company” refer to Medalist Diversified REIT, Inc., a Maryland corporation, together with our consolidated subsidiaries, including Medalist Diversified Holdings, LP, a Delaware limited partnership of which we are the sole general partner, except where it is clear from the context that the term only means Medalist Diversified REIT, Inc. Overview Medalist Diversified REIT, Inc. was formed in 2015 as a Maryland corporation, to acquire, reposition, renovate, lease and manage income-producing properties.

Our current primary focus is on (i) managing our legacy portfolio consisting of retail and flex-industrial properties in secondary and tertiary markets in Virginia, North Carolina, and South Carolina, and (ii) managing and expanding our single tenant net lease (“STNL”) property portfolio in geographic markets across the United States. Beginning with our taxable year ended December 31, 2017, we believe that we have operated in a manner qualifying us as a REIT, and we have elected to be taxed as a REIT for federal income tax purposes. We operate as an UPREIT, and own our properties through our subsidiary, Medalist Diversified Holdings, L.P., a Delaware limited partnership.

KRG Material

Annual filing released 2025-02-12 · GPT 6 Luna

Project MSA KRG Ownership % Projected Completion Date(1) Total Commercial GLA Total Multifamily Units Total Project Costs – at KRG's Share KRG Equity Requirement KRG Remaining Spend Estimated Stabilized NOI to KRG Estimated Remaining NOI to Come Online(2) Active Projects The Corner – IN(3) Indianapolis, IN 50% Q1 2025 24,000 285 $31.9M $ — $ — $1.7M–$1.9M $1.7M–$1.9M One Loudoun Expansion(4) Washington, D.C./Baltimore 100% Q4 2026 119,000 — $81.0M–$91.0M $65.0M–$75.0M $65.0M–$75.0M $4.7M–$6.2M $3.2M–$4.7M Total 143,000 285 $112.9M–$122.9M $65.0M–$75.0M $65.0M–$75.0M $6.4M–$8.1M $4.9M–$6.6M

We believe we have the ability to fund these costs through cash flows from operations or borrowings on the Revolving Facility. During the year ended December 31, 2024, we began development activities on the retail and office portions of the expansion project at One Loudoun Downtown (the “One Loudoun Expansion”), our mixed-use lifestyle center in the Washington, D.C. MSA. We also completed the major redevelopment construction activities at Carillon medical office building in 2023 and reclassified the property from active redevelopment into our office portfolio in December 2024. In addition to the One Loudoun Expansion, as of December 31, 2024, we had a development project under construction at The Corner – IN.

MDRR Not tagged

Annual filing released 2025-02-27 · GPT 6 Luna

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