Kite Realty Group Trust Launches Re-Opening Resources Program
May 29 2020 - 7:03AM
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 tenants
- Contactless Locker Systems: A contactless
BOPAC (Buy Online Pick Up At Center) locker program is being
piloted at select centers for small-shop transactional use
- Shopper 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 use
- Kite 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 company
- KRG Small Business Loan (SBL) Program: KRG
created the SBL program to provide supplemental access to funds for
small-business tenants
Within 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 | Facebook
Contact Information: Kite Realty Group Trust Bryan McCarthy
SVP, Marketing &
Communications317.713.5692bmccarthy@kiterealty.com
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