{"id":1004126209,"date":"2015-08-26T20:41:36","date_gmt":"2015-08-27T04:41:36","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=359036"},"modified":"2020-05-13T01:59:24","modified_gmt":"2020-05-13T09:59:24","slug":"indy-reit-flies-high-in-dallas","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/indy-reit-flies-high-in-dallas\/","title":{"rendered":"Indy REIT Flies High in Dallas"},"content":{"rendered":"<p><em>By Liviu Oltean, Associate Editor<\/em><\/p>\n<p>An Indianapolis-based REIT has dipped its toe in the DFW real estate market. <a href=\"https:\/\/kiterealty.com\/\" rel=\"nofollow\" ><strong>Kite Realty Group Trust<\/strong> <\/a>acquired a 200,000-square-foot power center located at the intersection of I-30 and Hulen St. in Fort Worth.<\/p>\n<p>Kite purchased the Chapel Hill Shopping Center for $18 million. The trust obtained acquisition financing through the use of remaining 1031 sale proceeds and other unnamed liquidity sources, according to the announcement.<\/p>\n<div id=\"attachment_359037\" class=\"wp-caption alignright\" style=\"width: 310px\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/08\/Chapel-Hill-Shopping-Center.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-359037\" title=\"Chapel Hill Shopping Center\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/08\/Chapel-Hill-Shopping-Center.jpg\" alt=\"Chapel Hill Shopping Center\" width=\"300\" height=\"176\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">Chapel Hill Shopping Center<\/p>\n<\/div>\n<p>At the time of the closing, the center was 96 percent leased and anchored by HEB Grocery\u2019s Central Market, The Container Store and Cost Plus World Market. Its tenant roster also includes retailers such as Ann Taylor, Beauty Brands, New Balance and Men\u2019s Wearhouse.<\/p>\n<p>\u201cOur off-market acquisition of Chapel Hill is the most recent example of execution on our strategy of continually upgrading the portfolio and leveraging our longstanding relationships in the industry,\u201d John Kite, chairman &amp; CEO of the REIT, said in a prepared statement. \u201cThe addition of Chapel Hill further enhances our high-quality portfolio and provides remerchandising opportunities to continue to grow our free cash flow. With this acquisition, we have now redeployed the proceeds realized from our recent dispositions and satisfied our acquisition guidance for the year.\u201d<\/p>\n<p><em>Image courtesy of Kite Realty <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>An Indianapolis, Ind.-based REIT has dipped its toe in the Dallas real estate market.<\/p>\n","protected":false},"author":1158,"featured_media":1004507263,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1586,21742],"tags":[],"class_list":["post-1004126209","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dallas","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Indy REIT Flies High in Dallas - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/indy-reit-flies-high-in-dallas\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Indy REIT Flies High in Dallas\" \/>\n<meta property=\"og:description\" content=\"An Indianapolis, Ind.-based REIT has dipped its toe in the Dallas real estate market.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/indy-reit-flies-high-in-dallas\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-08-27T04:41:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-13T09:59:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/Chapel-Hill-Shopping-Center.jpg?w=1024\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"1024\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Liviu Oltean\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/indy-reit-flies-high-in-dallas\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/indy-reit-flies-high-in-dallas\/\",\"name\":\"Indy REIT Flies High in Dallas - 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