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Funds from operations at the Indianapolis-based real estate investment trust Kite Realty Group Trust increased 6.7 percent in the third quarter.
The $12 million in funds from operations, a common measure of REITs, amounted to 32 cents per share-matching the average estimate of analysts surveyed by Thomson Financial.
Kite also reported today that its development pipeline was 80-percent pre-leased or committed as of Sept. 30, the end of the quarter.
The company’s investment in the redevelopment of Glendale Town Center in Indianapolis will cost $15 million, excluding third-party contributions, Kite said.
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