The Venture intends to develop and/or acquire up to $1.25 billion of well-positioned community shopping centers in strategic markets in the United States. Under the terms of the Venture agreement, Kite Realty Group has agreed to present to PREI opportunities to develop or acquire community shopping centers, each with estimated project costs in excess of $50 million. It is expected that equity capital contributions of up to $500 million would be made to the Venture for qualifying projects over a four-year period. Contributions would be made on a project-by-project basis with PREI contributing 80% and the Company contributing 20% of the equity capital. Equity capital in the future ventures is currently expected to be leveraged at a rate of approximately 60% upon stabilization of each project. Equity capital has not been committed by either party at this time. The parties anticipate capital contributions to be required at or near the time of development project stabilization or at the time a property acquisition is identified in the future.
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if the Equity capital is expoected to be leveraged at around 60% upon stabilization of each project, when is the time frame to stabilize the project?
if the Equity capital is expoected to be leveraged at around 60% upon stabilization of each project, when is the time frame to stabilize the project?