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Kite Realty Group Trust Enters into a $115 Million Unsecured Term Loan and Amends and Extends Its $200 Million Unsecured Revolving Credit Facility

Kite Realty Group Trust (NYSE: KRG) (the “Company”) announced today that it has closed on a new $115 million unsecured term loan. The loan has a seven-year term and an interest rate of LIBOR plus 210 to 310 basis points, depending on the Company’s leverage. The Company has the option to increase the term loan under the term loan agreement by $10 million to $125 million, subject to certain conditions, including obtaining commitments from any one or more lenders, whether or not currently party to the term loan agreement, to provide such increased amounts. The Company received initial proceeds of $115 million from the unsecured loan, which will be used to retire the Company’s upcoming debt maturities including loans secured by Rivers Edge, Cobblestone Plaza, Estero Town Commons, Tarpon Springs Plaza, and Fox Lake Crossing and the remaining proceeds will be utilized to partially pay down the Company’s unsecured revolving credit facility.

KeyBanc Capital Markets and Wells Fargo Securities, LLC, acted as joint bookrunners and joint lead arrangers for the unsecured term loan. Other banks in the syndicate were The Huntington National Bank and Raymond James Bank, FSB.

In addition, the Company amended the terms of its existing $200 million unsecured revolving credit facility. The maturity date was extended to April 30, 2016 and the interest rate was reduced to LIBOR plus 190 to 290 basis points, depending on the Company’s leverage. The Company has the option to extend the maturity date to April 30, 2017.

The Company’s bank group for the amended $200 million unsecured revolving credit facility is led by KeyBank National Association, as Administrative Agent, and Bank of America, N.A., as Syndication Agent. Other banks in the syndicate include Wells Fargo Bank National Association, as Documentation Agent; Citicorp North America, Inc.; Raymond James Bank, FSB; Royal Bank of Canada; U.S. Bank National Association; JPMorgan Chase Bank, N.A.; and The Huntington National Bank.

John A. Kite, Kite Realty Group’s Chairman and Chief Executive Officer, said, “The closing of this term loan substantially completes our goal of extending and staggering our near-term debt maturities and provides additional financial flexibility by significantly increasing our unencumbered asset pool. We appreciate the continued support of our relationship lending group.”

About Kite Realty Group Trust

Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust engaged in the ownership, operation, management, leasing, acquisition, construction management, redevelopment and development of neighborhood and community shopping centers in selected markets in the United States. At December 31, 2011, the Company owned interests in a portfolio of 63 operating and redevelopment properties totaling approximately 9.5 million square feet and an additional three properties currently under development totaling 0.6 million square feet.

Safe Harbor

This press release contains certain 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 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 the recent slowing of growth in the U.S. economy; 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 (“REIT”) for federal income tax purposes; potential environmental and other liabilities; impairment in the value of real estate property the Company owns; risks related to the geographical concentration of our properties in Indiana, Florida and Texas; 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 Securities and Exchange Commission, specifically the section titled “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2011, 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 (including the FFO and net income estimates), whether as a result of new information, future events or otherwise.

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