Loading, Please Wait...

CST: 18/08/2018 07:09:54   

Kite Realty Group Trust Announces Planned Opening of Levity Live Entertainment Venue at Parkside Town Commons

95 Days ago

INDIANAPOLIS, May 14, 2018 (GLOBE NEWSWIRE) -- Kite Realty Group Trust (NYSE:KRG) (the “Company”) announced today that Levity Live is planning to open a live entertainment venue in late 2018 at its Parkside Town Commons location near Raleigh, North Carolina.

Parkside Town Commons is a two-phase ground-up development project serving the Research Triangle Park area and is located at the intersection of North Carolina Highway 55 and Interstate 540. The 15,044 square foot Levity Live mixed-use, live performance entertainment venue and attached restaurant concept will join several existing anchors, including Target, Harris Teeter, Frank Theatres CineBowl & Grille, Petco, Hobby Lobby, Golf Galaxy, and Guitar Center.

“Levity Live’s unique entertainment venue provides an unparalleled experience to the existing market. Our team’s focus on attracting traffic-driving, experiential tenants to our high-quality retail destinations pairs well with Levity Live’s dedication to entertainment,” said Tom McGowan, Chief Operating Officer of Kite Realty Group.

Levity Live is a vertically integrated media company that owns and operates entertainment venues nationwide, including the iconic Improv Comedy Club brand. With international reach and unparalleled expertise, Levity Live serves talents, consumers and major brands as well as identifies, develops, finances and produces original content targeted for all distribution platforms. 

“Raleigh and the surrounding communities are rich with incredible culture and entertainment from live music to stand-up comedy and theatrical performances; Levity Live is excited to be a part of this diverse and growing arts community,” shared Alireza Ghaemian, CEO of Levity Live. “We look forward to working with Kite Realty Group alongside Parkside Town Commons local retailers, and bringing an eclectic line-up of entertainment and dining options for all who join us for an unforgettable experience.” 

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 tenants in desirable markets through our diverse portfolio of high-quality community, neighborhood, 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, 2018, the Company owned interests in 115 operating and redevelopment properties totaling approximately 22.5 million square feet and 2 development projects currently under construction totaling 0.7 million square feet.

For more information, please visit our website at kiterealty.com.

Safe Harbor

Certain statements in this document that are not historical fact may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements are based on assumptions and expectations that may not be realized and are inherently subject to risks, uncertainties and other factors, many of which cannot be predicted with accuracy and some of which might not even be anticipated. Future events and actual results, performance, transactions or achievements, financial or otherwise, may differ materially from the results, performance, transactions or achievements, financial or otherwise, expressed or implied by the forward-looking statements. Risks, uncertainties and other factors that might cause such differences, some of which could be material, include, but are not limited to: national and local economic, business, real estate and other market conditions, particularly in light of low growth in the U.S. economy as well as economic uncertainty caused by fluctuations in the prices of oil and other energy sources and inflationary trends or outlook; financing risks, including the availability of, and costs associated with, sources of liquidity; the Company’s ability to refinance, or extend the maturity dates of, its indebtedness; the level and volatility of interest rates; the financial stability of tenants, including their ability to pay rent and the risk of tenant bankruptcies; the competitive environment in which the Company operates; acquisition, disposition, development and joint venture risks; property ownership and management risks; the Company’s ability to maintain its status as a real estate investment trust for federal income tax purposes; potential environmental and other liabilities; impairment in the value of real estate property the Company owns; the impact of online retail competition and the perception that such competition has on the value of shopping center assets; risks related to the geographical concentration of the Company’s properties in Florida, Indiana and Texas; insurance costs and coverage; risks associated with cybersecurity attacks and the loss of confidential information and other business interruptions; and other factors affecting the real estate industry generally. The Company refers you to the documents filed by the Company from time to time with the SEC, specifically the section titled “Risk Factors” in the Company’s and the Operating Partnership’s Annual Report on Form 10-K for the fiscal year ended December 31, 2017, which discuss these and other factors that could adversely affect the Company’s results. The Company undertakes no obligation to publicly update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information: Kite Realty Group Trust
Bryan McCarthy
SVP, Marketing & Communications
(317) 713-5692
bmccarthy@kiterealty.com

Ashley Underwood
Senior Analyst, Investor Relations & Strategy
(317) 578-5156
aunderwood@kiterealty.com