Kite Realty borrows $600 million under revolving credit facility

By Wendy Van Sickle

Columbus, Ohio, March 27 – Kite Realty Group Trust gave notice to its lenders on Monday to borrow under its $600 million credit facility, bringing its outstanding balance to $300 million, according to a news release.

Kite said it borrowed under the credit facility to increase its cash position and preserve financial flexibility amid the Covid-19 pandemic.

Kite Realty is an Indianapolis-based real estate investment trust focused on neighborhood and community shopping centers.

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