KRG Kite Realty Group Trust New

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Kite Realty Group Trust (the “Parent Company”), through its majority-owned subsidiary, Kite Realty Group, L.P. (the “Operating Partnership”), owns interests in various operating subsidiaries and joint ventures engaged in the ownership, operation, acquisition, development and redevelopment of high-quality, open-air shopping centers and mixed-use assets that are primarily grocery-anchored and located in high-growth Sun Belt markets and select strategic gateway markets in the United States. The terms “Company,” “we,” “us,” and “our” refer to the Parent Company and the Operating Partnership, collectively, and those entities owned or controlled by the Parent Company and/or the Operating Partnership.

The Operating Partnership was formed on August 16, 2004, when the Parent Company contributed properties and the net proceeds from an initial public offering (“IPO”) of shares of its common stock to the Operating Partnership. The Parent Company was organized in Maryland in 2004 to succeed in the development, acquisition, construction and real estate businesses of its predecessor. We believe the Company qualifies as a real estate investment trust (“REIT”) under sections 856-860 of the Internal Revenue Code of 1986, as amended.

The Parent Company is the sole general partner of the Operating Partnership and, as of September 30, 2024, owned approximately 98.2% of the common partnership interests in the Operating Partnership (“General Partner Units”). The remaining 1.8% of the common partnership interests (“Limited Partner Units” and, together with the General Partner Units, the “Common Units”) were owned by the limited partners. As the sole general partner of the Operating Partnership, the Parent Company has full, exclusive and complete responsibility and discretion in the day-to-day management and control of the Operating Partnership. The Parent Company and the Operating Partnership are operated as one enterprise. The management of the Parent Company consists of the same members as the management of the Operating Partnership. As the sole general partner with control of the Operating Partnership, the Parent Company consolidates the Operating Partnership for financial reporting purposes, and the Parent Company does not have any significant assets other than its investment in the Operating Partnership.

The accompanying unaudited consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in the financial statements prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) may have been condensed or omitted pursuant to such rules and regulations, although management believes that the disclosures are adequate to make the presentation not misleading. The unaudited consolidated financial statements as of September 30, 2024 and for the three and nine months ended September 30, 2024 and 2023 include all adjustments, consisting of normal recurring adjustments, necessary in the opinion of management to present fairly the financial information set forth therein. The unaudited consolidated financial statements in this Form 10-Q should be read in conjunction with the audited consolidated financial statements and related notes thereto included in the combined Annual Report on Form 10-K of the Parent Company and the Operating Partnership for the year ended December 31, 2023.

The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and revenues and expenses during the reported period. Actual results could differ from these estimates. The results of operations for the interim periods are not necessarily indicative of the results that may be expected on an annual basis.

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As of September 30, 2024, the Company’s portfolio consisted of the following:

			Properties						Square Footage
Operating retail properties(1)			179						27,720,361
Office properties			1						287,291
Development and redevelopment projects:
Carillon medical office building			1						126,000
The Corner – IN(2)			1						24,000
One Loudoun Expansion(3)			—						119,000
Hamilton Crossing Centre			1						92,283
Edwards Multiplex – Ontario			1						124,614

(1)Included within operating retail properties are 10 properties that contain an office component. Excludes one operating retail property classified as held for sale as of September 30, 2024. Of the 179 operating retail properties, 176 are consolidated within these financial statements and the remaining three are accounted for under the equity method.

(2)This property is held in an unconsolidated joint venture in which the Company has a 50% ownership interest.

(3)During the three months ended September 30, 2024, the Company began development activities on the retail and office portions of the expansion project at One Loudoun Downtown (the “One Loudoun Expansion”) in the Washington, D.C. metropolitan statistical area (“MSA”). The Company estimates that it will incur net project costs of approximately $65.0 million to $75.0 million related to the One Loudoun Expansion.

Components of Investment Properties

The following table summarizes the composition of the Company’s investment properties as of September 30, 2024 and December 31, 2023 (in thousands):

			Balance as of
			September 30, 2024						December 31, 2023
Land, buildings and improvements			$	7,543,145					$	7,684,066
Construction in progress			64,704						55,995
Investment properties, at cost			$	7,607,849					$	7,740,061

Components of Rental Income including Allowance for Uncollectible Accounts

Rental income related to the Company’s operating leases is comprised of the following for the three and nine months ended September 30, 2024 and 2023 (in thousands):

			Three Months Ended September 30,												Nine Months Ended September 30,
			2024						2023						2024						2023
Fixed contractual lease payments – operating leases			$	163,913					$	159,491					$	486,126					$	478,215
Variable lease payments – operating leases			36,939						38,100						117,072						117,730
Bad debt reserve			(1,468)						(219)						(3,601)						(2,007)
Straight-line rent adjustments			3,595						3,132						9,787						9,900
Straight-line rent reserve for uncollectibility			(309)						(367)						279						(177)
Amortization of in-place lease liabilities, net			2,264						3,853						6,920						9,228
Rental income			$	204,934					$	203,990					$	616,583					$	612,889

The Company makes estimates as to the collectability of its accounts receivable. In making these estimates, the Company reviews a variety of qualitative and quantitative data and considers such factors as the credit quality of our customer, historical write-off experience and current economic trends, to make a subjective determination. An allowance for uncollectible accounts, including future credit losses of the accrued straight-line rent receivables, is maintained for estimated losses resulting from the inability of certain tenants to meet contractual obligations under their lease agreements.

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Short-Term Deposits

In January 2024, the Company invested $265.0 million in short-term deposits at Goldman Sachs Bank USA (“Goldman Sachs”) and KeyBank National Association (“KeyBank”). These short-term deposits earned interest at a weighted average interest rate of 5.34% with a final maturity date of July 22, 2024. During the nine months ended September 30, 2024, the Company earned $6.3 million of interest income on the January 2024 deposits, which is recorded within “Other income, net” in the accompanying consolidated statements of operations and comprehensive income.

In August 2024, the Company invested $350.0 million in short-term deposits at Goldman Sachs and KeyBank. The deposit balance approximates fair value and earns interest at a weighted average interest rate of 5.05% with a final maturity date in February 2025. During the three months ended September 30, 2024, the Company earned $2.2 million of interest income on the August 2024 deposits, which is recorded within “Other income, net” in the accompanying consolidated statements of operations and comprehensive income.

Consolidation and Investments in Joint Ventures

The accompanying financial statements are presented on a consolidated basis and include all accounts of the Parent Company, the Operating Partnership, the taxable REIT subsidiaries (“TRSs”) of the Operating Partnership, subsidiaries of the Operating Partnership that are controlled, and any variable interest entities (“VIEs”) in which the Operating Partnership is the primary beneficiary. As of September 30, 2024, we owned investments in two consolidated joint ventures that were VIEs in which the partners did not have substantive participating rights and we were the primary beneficiary. As of September 30, 2024, these consolidated VIEs had mortgage debt totaling $110.3 million, which was secured by assets of the VIEs totaling $218.1 million. The Operating Partnership guarantees the mortgage debt of these VIEs.

The Operating Partnership is considered a VIE as the limited partners do not hold kick-out rights or substantive participating rights. The Parent Company consolidates the Operating Partnership as it is the primary beneficiary.

As of September 30, 2024, the Company also owned investments in four unconsolidated joint ventures accounted for under the equity method, which are not considered VIEs. On January 31, 2024, the joint venture that owned Glendale Center Apartments, of which we have an 11.5% ownership interest, sold the 267-unit property to a third party, resulting in a gain on sale of $20.2 million. The Company recognized its share of the gain on sale of unconsolidated property of $2.3 million during the nine months ended September 30, 2024. In addition, the Company received a $1.6 million distribution upon the disposition of the property. The Company maintains an investment in the joint venture, which is in the process of winding up its activities and distributing remaining net assets. Glendale Center Apartments is adjacent to our Glendale Town Center operating retail property in the Indianapolis MSA.

Income Taxes and REIT Compliance

Parent Company

The Parent Company has been organized and operated, and intends to continue to operate, in a manner that will enable it to maintain its qualification as a REIT for U.S. federal income tax purposes. As a result, it generally will not be subject to U.S. federal income tax on the earnings that it distributes to the extent it distributes its “REIT taxable income” (determined before the deduction for dividends paid and excluding net capital gains) to shareholders of the Parent Company and meets certain other requirements on a recurring basis. To the extent that it satisfies this distribution requirement but distributes less than 100% of its taxable income, it will be subject to U.S. federal income tax on its undistributed REIT taxable income at regular corporate income tax rates. REITs are subject to a number of organizational and operational requirements. If the Parent Company fails to qualify as a REIT in any taxable year, it will be subject to U.S. federal income tax on its taxable income at regular corporate income tax rates for a period of four years following the year in which qualification is lost. Additionally, we may also be subject to certain taxes enacted by the Inflation Reduction Act of 2022 that are applicable to non-REIT corporations, including the nondeductible 1% excise tax on certain stock repurchases. We may also be subject to certain U.S. federal, state and local taxes on our income and property and to U.S. federal income and excise taxes on our undistributed taxable income even if the Parent Company does qualify as a REIT. The Operating Partnership intends to continue to make distributions to the Parent Company in amounts sufficient to assist the Parent Company in adhering to REIT requirements and maintaining its REIT status.

We have elected to treat Kite Realty Holdings, LLC and IWR Protective Corporation as TRSs with respect to the REIT, and we may elect to treat other subsidiaries as TRSs in the future. This election enables us to receive income and provide services that would otherwise be impermissible for a REIT. Deferred tax assets and liabilities are established for temporary

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differences between the financial reporting bases and the tax bases of assets and liabilities at the tax rates expected to be in effect when the temporary differences reverse. Deferred tax assets are reduced by a valuation allowance if it is more likely than not that some portion or all of the deferred tax asset will not be realized.

Operating Partnership

The allocated share of income and loss, other than the operations of our TRSs, is included in the income tax returns of the Operating Partnership’s partners. Accordingly, the only U.S. federal income taxes included in the accompanying consolidated financial statements are in connection with the TRSs.

Noncontrolling Interests

We report the non-redeemable noncontrolling interests in subsidiaries as equity, and the amount of consolidated net income attributable to these noncontrolling interests is set forth separately in the accompanying consolidated financial statements. The following table summarizes the non-redeemable noncontrolling interests in consolidated properties for the nine months ended September 30, 2024 and 2023 (in thousands):

			Nine Months Ended September 30,
			2024						2023
Noncontrolling interests balance as of January 1,			$	2,430					$	5,370
Net income allocable to noncontrolling interests, excluding redeemable noncontrolling interests			204						201
Distributions to noncontrolling interests(1)			(760)						(3,196)
Noncontrolling interests balance as of September 30,			$	1,874					$	2,375

(1)During the nine months ended September 30, 2023, we received a $3.2 million distribution from excess proceeds related to a third-party financing.

Noncontrolling Interests – Joint Venture

Prior to the October 2021 merger with Retail Properties of America, Inc. (“RPAI”), RPAI entered into a joint venture related to the development, ownership and operation of the multifamily rental portion of the expansion project at One Loudoun Downtown – Pads G & H. The Company owns 90% of the joint venture.

Under terms defined in the joint venture agreement, after construction completion and stabilization of the development project (as defined in the joint venture agreement), the Company has the ability to call, and the joint venture partner has the ability to put to the Company, subject to certain conditions, the joint venture partner’s interest in the joint venture at fair value. As of September 30, 2024, the conditions for exercising the put and call options have been met but neither the Company nor the joint venture partner has exercised their respective options.

The joint venture is considered a VIE primarily because the Company’s joint venture partner does not have substantive kick-out rights or substantive participating rights. The Company is considered the primary beneficiary as it has a controlling financial interest in the joint venture. As such, the Company has consolidated this joint venture and presented the joint venture partner’s interests as noncontrolling interests.

Redeemable Noncontrolling Interests – Limited Partners

Limited Partner Units are redeemable noncontrolling interests in the Operating Partnership. We classify redeemable noncontrolling interests in the Operating Partnership in the accompanying consolidated balance sheets outside of permanent equity because we may be required to pay cash to holders of Limited Partner Units upon redemption of their interests in the Operating Partnership or deliver registered shares upon their conversion. The carrying amount of the redeemable noncontrolling interests in the Operating Partnership is reflected at the greater of historical book value or redemption value with a corresponding adjustment to additional paid-in capital. As of September 30, 2024 and December 31, 2023, the redemption value of the redeemable noncontrolling interests in the Operating Partnership exceeded the historical book value, and the balances were accordingly adjusted to redemption value.

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We allocate net operating results of the Operating Partnership after noncontrolling interests in the consolidated properties based on the partners’ respective weighted average ownership interest. We adjust the redeemable noncontrolling interests in the Operating Partnership at the end of each reporting period to reflect their interests in the Operating Partnership or redemption value. This adjustment is reflected in our shareholders’ and Parent Company’s equity. For the three and nine months ended September 30, 2024 and 2023, the weighted average interests of the Parent Company and the limited partners in the Operating Partnership were as follows:

			Three Months Ended September 30,												Nine Months Ended September 30,
			2024						2023						2024						2023
Parent Company’s weighted average interest in the Operating Partnership			98.3		%				98.5		%				98.3		%				98.6		%
Limited partners’ weighted average interests in the Operating Partnership			1.7		%				1.5		%				1.7		%				1.4		%

As of September 30, 2024, the Parent Company’s interest and the limited partners’ redeemable noncontrolling ownership interests in the Operating Partnership were 98.2% and 1.8%. As of December 31, 2023, the Parent Company’s interest and the limited partners’ redeemable noncontrolling ownership interests in the Operating Partnership were 98.4% and 1.6%.

Concurrent with the Parent Company’s IPO and related formation transactions, certain individuals received Limited Partner Units of the Operating Partnership in exchange for their interests in certain properties. The limited partners have the right to redeem Limited Partner Units for cash or, at the Parent Company’s election, common shares of the Parent Company in an amount equal to the market value of an equivalent number of common shares of the Parent Company at the time of redemption. Such common shares must be registered, which is not fully in the Parent Company’s control. Therefore, the limited partners’ interest is not reflected within permanent equity. The Parent Company also has the right to redeem the Limited Partner Units directly from the limited partner in exchange for either cash in the amount specified above or a number of its common shares equal to the number of Limited Partner Units being redeemed.

There were 3,960,037 and 3,512,868 Limited Partner Units outstanding as of September 30, 2024 and December 31, 2023, respectively. The increase in Limited Partner Units outstanding from December 31, 2023 is due to non-cash compensation awards granted to our executive officers in the form of Limited Partner Units and the exercise of previously granted Appreciation Only Long-Term Incentive Plan (“AO LTIP”) Units in exchange for Limited Partner Units.

The redeemable noncontrolling interests in the Operating Partnership for the nine months ended September 30, 2024 and 2023 were as follows (in thousands):

			Nine Months Ended September 30,
			2024						2023
Redeemable noncontrolling interests balance as of January 1,			$	73,287					$	53,967
Net (loss) income allocable to redeemable noncontrolling interests			(265)						499
Distributions declared to redeemable noncontrolling interests			(2,838)						(2,281)
Other, net including adjustments to redemption value			26,842						14,815
Total limited partners’ interests in the Operating Partnership balance as of September 30,			$	97,026					$	67,000

Fair Value Measurements

We follow the framework established under Financial Accounting Standards Board Accounting Standards Codification (“ASC”) 820, Fair Value Measurements and Disclosures, for measuring fair value of non-financial assets and liabilities that are not required or permitted to be measured at fair value on a recurring basis but only in certain circumstances, such as a business combination or upon determination of an impairment.

Assets and liabilities recorded at fair value in the accompanying consolidated balance sheets are categorized based on the inputs to the valuation techniques as follows:

•Level 1 fair value inputs are quoted prices in active markets for identical instruments to which we have access.

•Level 2 fair value inputs are inputs other than quoted prices included in Level 1 that are observable for similar instruments, either directly or indirectly, and appropriately consider counterparty creditworthiness in the valuation.

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•Level 3 fair value inputs reflect our best estimate of inputs and assumptions market participants would use in pricing an instrument at the measurement date. The inputs are unobservable in the market and significant to the valuation estimate.

In instances where the determination of the fair value measurement is based upon inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. Our assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability.

Effects of Accounting Pronouncements

In March 2024, the SEC issued a final rule, The Enhancement and Standardization of Climate-Related Disclosures for Investors. This final rule is effective for the Company for the fiscal year beginning in 2025 and requires companies to annually disclose climate-related information in registration statements and annual reports, including material climate-related risks and impacts on the Company, information about board oversight, risk management activities, and any material climate-related targets or goals. In addition, the final rule requires disclosure of material Scope 1 and/or Scope 2 greenhouse gas emissions, which will be subject to independent third-party assurance, and the financial statement effects of severe weather events and other natural conditions. In April 2024, the SEC announced a stay of these climate disclosure rules pending judicial review. The Company is continuing to evaluate the impact of this final rule until it becomes effective.

In November 2023, the Financial Accounting Standards Board issued Accounting Standards Update 2023-07, Segment Reporting (Topic 280) – Improvements to Reportable Segment Disclosures. This new guidance became effective for the Company on January 1, 2024 and provides new disclosure requirements on significant segment expenses that will begin with the Company’s Annual Report on Form 10-K for the fiscal year ending December 31, 2024. Public entities with a single reportable segment such as the Company must apply all of the new disclosure requirements as well as all existing segment disclosure and reconciliation requirements in Topic 280 on an annual and interim basis. The adoption of this pronouncement on January 1, 2024 did not have any effect on the Company’s consolidated financial statements. The amended disclosure guidance will be applied prospectively.

The Company closed on the following asset acquisition during the nine months ended September 30, 2024 (dollars in thousands):

Date

Property Name

MSA

Property Type

Square Footage

Acquisition Price

August 30, 2024

Parkside West Cobb

Atlanta

Multi-tenant retail

141,627

$

40,125

The Company closed on the following asset acquisition during the nine months ended September 30, 2023 (dollars in thousands):

Date

Property Name

MSA

Property Type

Square Footage

Acquisition Price

September 22, 2023

Prestonwood Place

Dallas/Ft. Worth

Multi-tenant retail

155,975

$

81,000

The above acquisitions were funded using a combination of available cash on hand, proceeds from dispositions and proceeds from the Company’s unsecured revolving line of credit. Substantially all of the purchase price was allocated to investment properties.

The Company closed on the following disposition during the nine months ended September 30, 2024 (dollars in thousands):

Date

Property Name

MSA

Property Type

Square Footage

Sales Price

Gain (Loss)

May 31, 2024

Ashland & Roosevelt

Chicago

Multi-tenant retail

104,176

$

30,600

$

(1,234)

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In addition, during the three months ended September 30, 2024, the Company received proceeds of $0.6 million and recognized a gain of $0.6 million as a result of the receipt of an escrow related to the disposition of Reisterstown Road Plaza that previously closed on September 11, 2023.

The Company closed on the following dispositions during the nine months ended September 30, 2023 (dollars in thousands):

Date						Property Name						MSA						Property Type						Square Footage						Sales Price						Gain (Loss)
May 8, 2023						Kingwood Commons						Houston						Multi-tenant retail						158,172						$	27,350					$	4,736
June 8, 2023						Pan Am Plaza & Garage						Indianapolis						Land & garage						—						52,025						23,635
September 11, 2023						Reisterstown Road Plaza						Baltimore						Multi-tenant retail						376,683						48,250						(5,903)
																								534,855						$	127,625					$	22,468

Since June 30, 2024, we have classified City Center, a 362,278 square foot multi-tenant retail property in the New York MSA, as held for sale as the Company has committed to a plan to sell this asset and expects that the sale will be completed within one year. This property qualified for held-for-sale accounting treatment upon meeting all applicable GAAP criteria as of June 30, 2024, at which time depreciation and amortization were ceased. In addition, the assets and liabilities associated with this property remain separately classified as held for sale in the accompanying consolidated balance sheet as of September 30, 2024. No properties qualified for held-for-sale accounting treatment as of December 31, 2023.

As of June 30, 2024, in connection with the preparation and review of the second quarter 2024 financial statements and in conjunction with classifying City Center as held for sale, we evaluated City Center for impairment and recorded a $66.2 million impairment charge due to changes in the facts and circumstances underlying the Company’s expected future hold period of the property. A shortening of the expected future hold period is considered an impairment indicator; therefore, we assessed the recoverability of City Center by comparing the carrying value of long-lived assets of $135.1 million as of June 30, 2024 to its estimated fair value of $69.6 million, which was determined using the income approach, less estimated selling costs of $0.7 million. The income approach involves discounting the estimated income stream and reversion (presumed sale) value of a property over an estimated hold period to a present value at a risk-adjusted rate. We used capitalization rates as a significant assumption in the valuation model, which are considered to be Level 3 inputs within the fair value hierarchy. We applied capitalization rates ranging from 6.0% to 15.0% to property income streams based upon the risk profile of the respective tenants and market rent of the leasable space. Based on this analysis, we recorded a $66.2 million non-cash impairment charge on City Center during the three months ended June 30, 2024.

The following table presents the assets and liabilities associated with City Center, the investment property that remains classified as held for sale as of September 30, 2024 (in thousands):

			September 30, 2024
Assets
Net investment properties			$	68,567
Tenant and other receivables			2,358
Restricted cash and escrow deposits			225
Deferred costs, net			2,638
Prepaid and other assets			869
Assets associated with investment property held for sale			$	74,657
Liabilities
Accounts payable and accrued expenses			$	461
Deferred revenue and other liabilities			3,296
Liabilities associated with investment property held for sale			$	3,757

During the three months ended September 30, 2023, in connection with the preparation and review of the third quarter 2023 financial statements, the Company recorded a $0.5 million impairment charge in connection with the sale of Eastside, a 43,640 square foot multi-tenant retail property in the Dallas/Ft. Worth MSA, as a result of a change in the expected hold period. The Company recorded the asset at the lower of cost or fair value less estimated costs to sell, which was approximately $14.1 million. The estimated fair value of Eastside was based upon the expected sales price from an executed sales contract and

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determined to be a Level 3 input within the fair value hierarchy. Eastside was sold on October 24, 2023 for a gross sales price of $14.4 million.

There were no discontinued operations for the nine months ended September 30, 2024 and 2023 as none of the dispositions or planned dispositions represented a strategic shift that has had, or will have, a material effect on our operations or financial results.

Deferred costs consist primarily of acquired lease intangible assets, broker fees and capitalized internal commissions incurred in connection with lease originations. Deferred leasing costs, lease intangibles and similar costs are amortized on a straight-line basis over the terms of the related leases. As of September 30, 2024 and December 31, 2023, deferred costs consisted of the following (in thousands):

			September 30, 2024						December 31, 2023
Acquired lease intangible assets			$	375,055					$	433,771
Deferred leasing costs and other			85,713						74,662
			460,768						508,433
Less: accumulated amortization			(205,967)						(204,262)
			$	254,801					$	304,171
Less: deferred costs associated with investment property held for sale			(2,638)						—
Deferred costs, net			$	252,163					$	304,171

The amortization of deferred leasing costs, lease intangibles and other is included within “Depreciation and amortization” in the accompanying consolidated statements of operations and comprehensive income. The amortization of above-market lease intangibles is included as a reduction to “Rental income” in the accompanying consolidated statements of operations and comprehensive income. The amounts of such amortization included in the accompanying consolidated statements of operations and comprehensive income are as follows (in thousands):

			Nine Months Ended September 30,
			2024						2023
Amortization of deferred leasing costs, lease intangibles and other			$	59,549					$	83,768
Amortization of above-market lease intangibles			$	7,309					$	9,305

Deferred revenue and other liabilities consist of (i) the unamortized fair value of below-market lease liabilities recorded in connection with purchase accounting, (ii) retainage payables for development and redevelopment projects, (iii) tenant rent payments received in advance of the month in which they are due, and (iv) lease liabilities recorded upon adoption of ASU 2016-02, Leases (Topic 842). The amortization of below-market lease liabilities is recognized as revenue over the remaining life of the leases (including option periods for leases with below-market renewal options) through 2085. Tenant rent payments received in advance are recognized as revenue in the period to which they apply, which is typically the month following their receipt.

As of September 30, 2024 and December 31, 2023, deferred revenue, intangibles, net and other liabilities consisted of the following (in thousands):

			September 30, 2024						December 31, 2023
Unamortized in-place lease liabilities			$	147,363					$	159,449
Retainages payable and other			7,873						9,229
Tenant rents received in advance			29,349						35,339
Lease liabilities			67,563						68,925
			$	252,148					$	272,942
Less: deferred revenue associated with investment property held for sale			(3,296)						—
Deferred revenue and other liabilities			$	248,852					$	272,942

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The amortization of below-market lease intangibles is included as a component of “Rental income” in the accompanying consolidated statements of operations and comprehensive income and totaled $14.2 million and $18.5 million for the nine months ended September 30, 2024 and 2023, respectively.

The following table summarizes the Company’s indebtedness as of September 30, 2024 and December 31, 2023 (in thousands):

			September 30, 2024						December 31, 2023
Mortgages payable			$	149,477					$	153,306
Senior unsecured notes			2,380,000						1,829,635
Unsecured term loans			700,000						820,000
Unsecured revolving line of credit			—						—
			3,229,477						2,802,941
Unamortized discounts and premiums, net			24,013						35,765
Unamortized debt issuance costs, net			(13,562)						(9,504)
Total mortgage and other indebtedness, net			$	3,239,928					$	2,829,202

Consolidated indebtedness, including weighted average interest rates and weighted average maturities as of September 30, 2024, considering the impact of interest rate swaps, is summarized below (dollars in thousands):

			Amount Outstanding						Ratio						Weighted Average Interest Rate						Weighted Average Years to Maturity
Fixed rate debt(1)			$	3,059,277					95		%				4.18		%				4.4
Variable rate debt(2)			170,200						5		%				7.94		%				1.9
Debt discounts, premiums and issuance costs, net			10,451						N/A						N/A						N/A
Mortgage and other indebtedness, net			$	3,239,928					100		%				4.38		%				4.3

(1)Fixed rate debt includes the portion of variable rate debt that has been hedged by interest rate swaps. As of September 30, 2024, $700.0 million in variable rate debt is hedged to a fixed rate for a weighted average of 1.1 years.

(2)Variable rate debt includes the portion of fixed rate debt that has been hedged by interest rate swaps. As of September 30, 2024, $155.0 million in fixed rate debt is hedged to a floating rate for a weighted average of 0.9 years.

Mortgages Payable 

The following table summarizes the Company’s mortgages payable (dollars in thousands):

			September 30, 2024																		December 31, 2023
			Balance						Weighted Average Interest Rate						Weighted Average Years to Maturity						Balance						Weighted Average Interest Rate						Weighted Average Years to Maturity
Fixed rate mortgages payable(1)			$	134,277					5.10		%				7.4						$	136,306					5.09		%				8.1
Variable rate mortgage payable(2)			15,200						7.02		%				1.8						17,000						7.59		%				2.6
Total mortgages payable			$	149,477																	$	153,306

(1)The fixed rate mortgages had interest rates ranging from 3.75% to 5.73% as of September 30, 2024 and December 31, 2023.

(2)The interest rate on the variable rate mortgage is based on Bloomberg Short Term Bank Yield Index (“BSBY”) plus 215 basis points. The one-month BSBY rate was 4.87% and 5.44% as of September 30, 2024 and December 31, 2023, respectively. Subsequent to September 30, 2024, the Secured Overnight Financing Rate (“SOFR”) replaced BSBY as the index for the variable rate mortgage.

Mortgages payable, which are secured by certain real estate and, in some cases, by guarantees from the Operating Partnership, are generally due in monthly installments of principal and interest and mature over various terms through 2033. During the nine months ended September 30, 2024, we made scheduled principal payments of $3.8 million related to amortizing loans.

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Unsecured Notes

The following table summarizes the Company’s senior unsecured notes and exchangeable senior notes (dollars in thousands):

									September 30, 2024												December 31, 2023
			Maturity Date						Balance						Interest Rate						Balance						Interest Rate
Senior notes – 4.58% due 2024			June 30, 2024						$	—					—		%				$	149,635					4.58		%
Senior notes – 4.00% due 2025			March 15, 2025						350,000						4.00		%				350,000						4.00		%
Senior notes – SOFR + 3.65% due 2025(1)			September 10, 2025						80,000						7.98		%				80,000						9.27		%
Senior notes – 4.08% due 2026			September 30, 2026						100,000						4.08		%				100,000						4.08		%
Senior notes – 4.00% due 2026			October 1, 2026						300,000						4.00		%				300,000						4.00		%
Senior exchangeable notes – 0.75% due 2027			April 1, 2027						175,000						0.75		%				175,000						0.75		%
Senior notes – SOFR + 3.75% due 2027(2)			September 10, 2027						75,000						8.08		%				75,000						9.37		%
Senior notes – 4.24% due 2028			December 28, 2028						100,000						4.24		%				100,000						4.24		%
Senior notes – 4.82% due 2029			June 28, 2029						100,000						4.82		%				100,000						4.82		%
Senior notes – 4.75% due 2030			September 15, 2030						400,000						4.75		%				400,000						4.75		%
Senior notes – 4.95% due 2031			December 15, 2031						350,000						4.95		%				—						—		%
Senior notes – 5.50% due 2034(3)			March 1, 2034						350,000						4.60		%				—						—		%
Total senior unsecured notes									$	2,380,000											$	1,829,635

(1)$80,000 of 4.47% senior unsecured notes due 2025 has been swapped to a variable rate of three-month SOFR plus 3.65% through September 10, 2025.

(2)$75,000 of 4.57% senior unsecured notes due 2027 has been swapped to a variable rate of three-month SOFR plus 3.75% through September 10, 2025.

(3)The coupon rate of the Notes Due 2034 (defined below) is 5.50%; however, as a result of hedging activities, the Company’s interest rate is 4.60%.

In January 2024, the Company completed a public offering of $350.0 million in aggregate principal amount of 5.50% senior unsecured notes due 2034 (the “Notes Due 2034”). The Notes Due 2034 were priced at 98.670% of the principal amount to yield 5.673% to maturity and will mature on March 1, 2034, unless earlier redeemed. The proceeds were used to repay the $149.6 million principal balance of the 4.58% senior unsecured notes that matured on June 30, 2024 and the $120.0 million unsecured term loan that matured on July 17, 2024 (the “$120M Term Loan”) and for general corporate purposes.

In August 2024, the Company completed a public offering of $350.0 million in aggregate principal amount of 4.95% senior unsecured notes due 2031 (the “Notes Due 2031”). The Notes Due 2031 were priced at 99.328% of the principal amount to yield 5.062% to maturity and will mature on December 15, 2031, unless earlier redeemed. The Company expects the proceeds will be used to repay the $350.0 million principal balance of the 4.00% senior unsecured notes due 2025 (the “Notes Due 2025”) and for general corporate purposes.

Exchangeable Senior Notes

In March 2021, the Operating Partnership issued $175.0 million aggregate principal amount of 0.75% exchangeable senior notes maturing in April 2027 (the “Exchangeable Notes”). The Exchangeable Notes are governed by an indenture between the Operating Partnership, the Company and U.S. Bank National Association, as trustee. The net proceeds from the offering of the Exchangeable Notes were approximately $169.7 million after deducting the underwriting fees and other expenses paid by the Company. The Exchangeable Notes bear interest at a rate of 0.75% per annum, payable semi-annually in arrears, and will mature on April 1, 2027. During the nine months ended September 30, 2024 and 2023, we recognized approximately $1.0 million of interest expense related to the Exchangeable Notes.

Prior to January 1, 2027, the Exchangeable Notes will be exchangeable into cash up to the principal amount of the Exchangeable Notes exchanged and, if applicable, cash or common shares or a combination thereof only upon certain circumstances and during certain periods. On or after January 1, 2027, the Exchangeable Notes will be exchangeable into cash up to the principal amount of the Exchangeable Notes exchanged and, if applicable, cash or common shares or a combination thereof at the option of the holders at any time prior to the close of business on the second scheduled trading day preceding the maturity date. The initial exchange rate is 39.6628 common shares per $1,000 principal amount of Exchangeable Notes, which is equivalent to an initial exchange price of approximately $25.21 per common share and an exchange premium of

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approximately 25% based upon the closing price of $20.17 per common share on March 17, 2021. The exchange rate is subject to adjustment upon the occurrence of certain events but will not be adjusted for any accrued and unpaid interest. As of September 30, 2024, the exchange rate of the Exchangeable Notes is 40.6713 common shares per $1,000 principal amount of Exchangeable Notes due to adjustments related to dividends paid.

The Operating Partnership may redeem the Exchangeable Notes at its option, in whole or in part, on any business day on or after April 5, 2025, if the last reported sale price of the common shares has been at least 130% of the exchange price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period ending on, and including, the trading day immediately preceding the date on which the Operating Partnership provides notice of redemption at a redemption price equal to 100% of the principal amount of the Exchangeable Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date.

In connection with the Exchangeable Notes, the Operating Partnership entered into privately negotiated capped call transactions (the “Capped Call Transactions”) with certain of the initial purchasers of the Exchangeable Notes or their respective affiliates. The Capped Call Transactions initially cover, subject to anti-dilution adjustments substantially similar to those applicable to the Exchangeable Notes, the number of common shares underlying the Exchangeable Notes. The Capped Call Transactions are generally expected to reduce the potential dilution to holders of common shares upon exchange of the Exchangeable Notes. The cap price of the Capped Call Transactions was initially approximately $30.26, which represented a premium of approximately 50% over the last reported sale price of our common shares on March 17, 2021 and is subject to anti-dilution adjustments under the terms of the Capped Call Transactions. We incurred $9.8 million of costs related to the Capped Call Transactions, which are included within “Additional paid-in capital” in the accompanying consolidated balance sheets.

Unsecured Term Loans and Revolving Line of Credit

The following table summarizes the Company’s term loans and revolving line of credit (dollars in thousands):

									September 30, 2024												December 31, 2023
			Maturity Date						Balance						Interest Rate						Balance						Interest Rate
Unsecured term loan due 2024 – fixed rate(1)			July 17, 2024						$	—					—		%				$	120,000					2.68		%
Unsecured term loan due 2025 – fixed rate(2)			October 24, 2025						250,000						5.09		%				250,000						5.09		%
Unsecured term loan due 2026 – fixed rate(3)			July 17, 2026						150,000						2.73		%				150,000						2.73		%
Unsecured term loan due 2029 – fixed rate(4)			July 29, 2029						300,000						3.82		%				300,000						3.82		%
Total unsecured term loans									$	700,000											$	820,000
Unsecured credit facility revolving line of credit – variable rate(5)			January 8, 2026						$	—					6.11		%				$	—					6.58		%

(1)As of December 31, 2023, $120,000 of SOFR-based variable rate debt had been swapped to a fixed rate of 1.58% plus a credit spread based on a ratings grid ranging from 0.80% to 1.65% through July 17, 2024. The applicable credit spread was 1.10% as of December 31, 2023.

(2)$250,000 of SOFR-based variable rate debt has been swapped to a fixed rate of 5.09% through October 24, 2025. The maturity date of the term loan may be extended for up to three additional periods of one year each at the Operating Partnership’s option, subject to certain conditions.

(3)$150,000 of SOFR-based variable rate debt has been swapped to a fixed rate of 1.68% plus a credit spread based on a ratings grid ranging from 0.75% to 1.60% through July 17, 2026. The applicable credit spread was 1.05% as of September 30, 2024 and December 31, 2023.

(4)$300,000 of SOFR-based variable rate debt has been swapped to a fixed rate of 2.47% plus a credit spread based on a ratings grid ranging from 1.15% to 2.20% through August 1, 2025. The applicable credit spread was 1.35% as of September 30, 2024 and December 31, 2023.

(5)The revolving line of credit has two six-month extension options that the Company can exercise, at its election, subject to (i) customary representations and warranties, including, but not limited to, the absence of an event of default as defined in the unsecured credit agreement and (ii) payment of an extension fee equal to 0.075% of the revolving line of credit capacity.

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Unsecured Revolving Credit Facility

In July 2022, the Operating Partnership, as borrower, and the Company entered into the Second Amendment (the “Second Amendment”) to the Sixth Amended and Restated Credit Agreement, dated as of July 8, 2021 (as amended, the “Credit Agreement”) with a syndicate of financial institutions to provide for an unsecured revolving credit facility aggregating $1.1 billion (the “Revolving Facility”) and a seven-year $300.0 million unsecured term loan (the “$300M Term Loan”). Under the Second Amendment, the Operating Partnership has the option, subject to certain customary conditions, to increase the Revolving Facility and/or incur additional term loans in an aggregate amount for all such increases and additional loans of up to $600.0 million, for a total facility amount of up to $2.0 billion. The Revolving Facility has a scheduled maturity date of January 8, 2026, which maturity date may be extended for up to two additional periods of six months at the Operating Partnership’s option, subject to certain conditions.

Borrowings under the Revolving Facility bear interest at a rate per annum equal to SOFR plus a margin based on the Operating Partnership’s leverage ratio or credit rating, respectively, plus a facility fee based on the Operating Partnership’s leverage ratio or credit rating, respectively. The SOFR rate is also subject to an additional 0.10% spread adjustment as specified in the Second Amendment. The Revolving Facility is currently priced on the leverage-based pricing grid. In accordance with the Credit Agreement, the credit spread set forth in the leverage grid resets quarterly based on the Company’s leverage, as calculated at the previous quarter end. The Company may irrevocably elect to convert to the ratings-based pricing grid at any time. As of September 30, 2024, making such an election would have resulted in a lower interest rate; however, the Company had not made the election to convert to the ratings-based pricing grid. The Credit Agreement includes a sustainability metric based on targeted greenhouse gas emission reductions, which results in a reduction of the otherwise applicable interest rate margin by one basis point upon achievement of targets set forth therein. The greenhouse gas emission reduction targets have not been achieved as of September 30, 2024.

The following table summarizes the key terms of the Revolving Facility as of September 30, 2024 (dollars in thousands):

Leverage-Based Pricing

Investment Grade Pricing

Credit Agreement

Maturity Date

Extension Option

Extension Fee

Credit Spread

Facility Fee

Credit Spread

Facility Fee

SOFR Adjustment

$1,100,000 unsecured revolving line of credit

1/8/2026

2 six-month

0.075%

1.05%–1.50%

0.15%–0.30%

0.725%–1.40%

0.125%–0.30%

0.10%

The Operating Partnership’s ability to borrow under the Credit Agreement is subject to ongoing compliance by the Operating Partnership and its subsidiaries with various restrictive covenants, including with respect to liens, transactions with affiliates, dividends, mergers and asset sales. In addition, the Credit Agreement requires that the Operating Partnership satisfy certain financial covenants, including (i) a maximum leverage ratio; (ii) a minimum fixed charge coverage ratio; (iii) a maximum secured indebtedness ratio; (iv) a maximum unsecured leverage ratio; and (v) a minimum unencumbered interest coverage ratio. As of September 30, 2024, we were in compliance with all such covenants.

Subsequent to September 30, 2024, the Operating Partnership and the Company entered into the Third Amendment (the “Third Amendment”) to the Sixth Amended and Restated Credit Agreement, dated as of July 8, 2021 (as amended, the “Amended Credit Agreement”) that extended the maturity date of the Revolving Facility to October 3, 2028 with the option to extend such maturity date for either one one-year period or up to two six-month periods at the Company’s election, subject to the payment of an extension fee and certain other customary conditions. The credit spreads and facility fees for both the leverage-based and investment grade pricing grids remain the same; however, the Company has the ability to obtain more favorable pricing in certain circumstances when its total leverage ratio is (x) less than or equal to 35.0% or (y) greater than 35.0% but less than or equal to 37.5% with respect to not more than one fiscal quarter following a period in which the condition described in clause (x) was satisfied (the “Leverage Toggle”). In addition, the Third Amendment includes an adjustment to the sustainability-linked pricing provisions that allows the otherwise applicable interest rate margin to be reduced by up to two basis points if certain greenhouse gas emission reduction targets are achieved.

Unsecured Term Loans

As of September 30, 2024, the Operating Partnership has the following unsecured term loans: (i) a $250.0 million unsecured term loan due October 2025 (the “$250M Term Loan”), (ii) a $150.0 million unsecured term loan due July 2026 (the “$150M Term Loan”), and (iii) the $300M Term Loan that matures in July 2029, each of which bears interest at a rate of SOFR plus a credit spread. The $150M Term Loan and the $300M Term Loan are each priced on a ratings-based pricing grid while the $250M Term Loan is priced on a leverage-based pricing grid. The agreements related to the $150M Term Loan and $300M Term Loan include a sustainability metric based on targeted greenhouse gas emission reductions, which

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results in a reduction of the otherwise applicable interest rate margin by one basis point upon achievement of targets set forth in each agreement. The greenhouse gas emission reduction targets have not been achieved as of September 30, 2024.

The following table summarizes the key terms of the unsecured term loans as of September 30, 2024 (dollars in thousands):

Unsecured Term Loans

Maturity Date

Leverage-Based Pricing Credit Spread

Investment Grade Pricing Credit Spread

SOFR Adjustment

$250,000 unsecured term loan due 2025

10/24/2025(1)

2.00% – 2.55%

2.00% – 2.50%

0.10%

$150,000 unsecured term loan due 2026

7/17/2026

1.20% – 1.70%

0.75% – 1.60%

0.10%

$300,000 unsecured term loan due 2029

7/29/2029

N/A

1.15% – 2.20%

0.10%

(1)The maturity date may be extended for up to three additional periods of one year each at the Operating Partnership’s option, subject to certain conditions.

The Operating Partnership has the option to increase the $150M Term Loan to $250.0 million upon the Operating Partnership’s request, 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 Operating Partnership is permitted to prepay the $150M Term Loan in whole or in part, at any time, without being subject to a prepayment fee.

The Operating Partnership has the option to increase the $250M Term Loan to $300.0 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 Operating Partnership is permitted to prepay the $250M Term Loan in whole or in part, without premium or penalty.

The Operating Partnership is permitted to prepay the $300M Term Loan in whole or in part, at any time, without premium or penalty.

The unsecured term loan agreements contain representations, financial and other affirmative and negative covenants and events of default that are substantially similar to those contained in the Credit Agreement. The unsecured term loan agreements all rank pari passu with the Operating Partnership’s Revolving Facility and other unsecured indebtedness of the Operating Partnership.

The Third Amendment also applied the Leverage Toggle and adjustment to the sustainability-linked pricing provisions to the $300M Term Loan.

In addition, subsequent to September 30, 2024, the Operating Partnership entered into the Second Amendment (the “Second Amendment”) to the term loan agreement related to the $250M Term Loan that extended the maturity date of the $250M Term Loan to October 24, 2027 with the option to extend such maturity date by one one-year period at the Company’s election, subject to the payment of an extension fee and certain other customary conditions. In conjunction with the Second Amendment, the $250M Term Loan will be priced on a ratings-based pricing grid with the interest rate equal to (x) a margin ranging from 0.75% to 1.60% or (y) a base rate plus a margin ranging from 0.00% to 0.60% and includes the same Leverage Toggle for determining pricing and sustainability-linked pricing provisions as described above for the Third Amendment to the Amended Credit Agreement.

Debt Issuance Costs

Debt issuance costs are amortized over the terms of the respective loan agreements. The following amounts of amortization of debt issuance costs are included as a component of “Interest expense” in the accompanying consolidated statements of operations and comprehensive income (in thousands):

			Nine Months Ended September 30,
			2024						2023
Amortization of debt issuance costs			$	2,978					$	2,685

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Debt Discounts and Premiums

Debt discounts and premiums, including the related value of interest rate swaps that were assumed in the October 2021 merger with RPAI, are amortized over the terms of the respective loan agreements. The following amounts of amortization are included as a component of “Interest expense” in the accompanying consolidated statements of operations and comprehensive income (in thousands):

			Nine Months Ended September 30,
			2024						2023
Amortization of debt discounts, premiums and hedge instruments			$	10,581					$	14,992

In addition, the estimated amounts of the reduction to interest expense as of September 30, 2024 for each of the next five years and thereafter related to the amortization of debt discounts, premiums and assumed hedge instruments, assuming these instruments are held to maturity, are as follows (in thousands):

October 2024 through December 2024			$	3,011
2025			7,486
2026			5,832
2027			4,914
2028			4,904
Thereafter			4,462
Total unamortized debt discounts, premiums and hedge instruments			$	30,609

The following table reconciles total unamortized debt discounts, premiums and hedge instruments as of September 30, 2024 to the balance of unamortized discounts and premiums, net (in thousands):

Unamortized discounts and premiums on mortgages payable, senior unsecured notes and unsecured term loans			$	28,902
Unamortized hedge instruments			1,707
Total unamortized debt discounts, premiums and hedge instruments			30,609
Unamortized hedge instruments (included in accumulated other comprehensive income)			(1,707)
Fair value of variable interest rate swaps			(4,889)
Unamortized discounts and premiums, net			$	24,013

Fair Value of Fixed and Variable Rate Debt

As of September 30, 2024, the estimated fair value of fixed rate debt was $2.5 billion compared to the book value of $2.5 billion. The fair value was estimated using Level 2 and 3 inputs with cash flows discounted at current borrowing rates for similar instruments, which ranged from 5.18% to 6.26%. As of September 30, 2024, the estimated fair value of variable rate debt was $717.0 million compared to the book value of $715.2 million. The fair value was estimated using Level 2 and 3 inputs with cash flows discounted at current borrowing rates for similar instruments, which ranged from 6.00% to 6.05%.

In order to manage potential future variable interest rate risk, we enter into interest rate derivative agreements from time to time. We do not use interest rate derivative agreements for trading or speculative purposes. The agreements with each of our derivative counterparties provide that in the event of default on any of our indebtedness, we could also be declared in default on our derivative obligations.

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The following table summarizes the terms and fair values of the Company’s derivative financial instruments that were designated and qualified as part of a hedging relationship as of September 30, 2024 and December 31, 2023 (dollars in thousands):

																																										Fair Value Assets (Liabilities)(1)
Type of Hedge						Number of Instruments						Aggregate Notional						Reference Rate						Interest Rate						Effective Date						Maturity Date						September 30, 2024						December 31, 2023
Cash Flow						Four						$	250,000					SOFR						2.99		%				12/1/2022						10/24/2025						$	2,038					$	4,952
Cash Flow						Two						100,000						SOFR						2.66		%				8/1/2022						8/1/2025						1,026						2,415
Cash Flow						Two						200,000						SOFR						2.37		%				11/22/2023						8/1/2025						2,528						5,716
Cash Flow						Three						—						SOFR						1.58		%				8/15/2022						7/17/2024						—						2,236
Cash Flow						Three						150,000						SOFR						1.68		%				8/15/2022						7/17/2026						4,621						7,744
												$	700,000																													$	10,213					$	23,063
Fair Value(2)						Two						$	155,000					SOFR						SOFR + 3.70%						4/23/2021						9/10/2025						$	(4,889)					$	(9,408)
Forward-Starting Cash Flow(3)						Three						$	150,000					SOFR						3.44		%				6/28/2024						6/28/2034						$	—					$	(700)

(1)Derivatives in an asset position are included within “Prepaid and other assets” and derivatives in a liability position are included within “Accounts payable and accrued expenses” in the accompanying consolidated balance sheets.

(2)The derivative agreements swap a blended fixed rate of 4.52% for a blended floating rate of three-month SOFR plus 3.70%.

(3)The forward-starting interest rate swaps were terminated in conjunction with the issuance of the Notes Due 2034.

In August 2024, we entered into two intraday interest rate lock agreements with notional amounts totaling $350.0 million that fixed the interest rate on a portion of the Notes Due 2031, which were issued in August 2024, at 3.75%. We paid $0.1 million upon termination, which is included as a component of “Accumulated other comprehensive income” in the accompanying consolidated balance sheets and is being reclassified as an increase to interest expense over the term of the debt.

In December 2023, we entered into three forward-starting interest rate swap agreements with notional amounts totaling $150.0 million that swap a floating rate of compound SOFR for a fixed rate of 3.44% with an effective date of June 28, 2024 and a maturity date of June 28, 2034. These interest rate swaps fixed the interest rate on a portion of the Notes Due 2034, which were issued in January 2024, and were subsequently terminated upon issuance of the Notes Due 2034. We received $0.7 million upon termination, which is included as a component of “Accumulated other comprehensive income” in the accompanying consolidated balance sheets and is being reclassified as a reduction to interest expense over the term of the debt.

In October 2022, we terminated two forward-starting interest rate swaps with notional amounts totaling $150.0 million and a maturity date of June 1, 2032 and received $30.9 million upon termination. This settlement is included as a component of “Accumulated other comprehensive income” in the accompanying consolidated balance sheets and is being reclassified to earnings over time as the hedged items are recognized in earnings. During the year ended December 31, 2023, we accelerated the reclassification of $3.1 million in accumulated other comprehensive income as a reduction to interest expense as a result of a portion of the hedged forecasted transaction becoming probable not to occur. In January 2024, we completed a public offering of the Notes Due 2034. The remaining balance in accumulated other comprehensive income is being reclassified as a reduction to interest expense over the term of the debt.

These interest rate derivative agreements are the only assets or liabilities that we record at fair value on a recurring basis. The valuation of these assets and liabilities is determined using widely accepted techniques including discounted cash flow analysis. These techniques consider the contractual terms of the derivatives (including the period to maturity) and use observable market-based inputs such as interest rate curves and implied volatilities. We also incorporate credit valuation adjustments into the fair value measurements to reflect nonperformance risk on both our part and that of the respective counterparties.

We have determined that the majority of the inputs used to value our derivatives fall within Level 2 of the fair value hierarchy, although the credit valuation adjustments associated with our derivatives use Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by us and our counterparties. As of September 30, 2024 and December 31, 2023, we assessed the significance of the impact of the credit valuation adjustments on the overall valuation of our derivative positions and determined that the credit valuation adjustments were not significant to the overall valuation of our

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derivatives. As a result, we have determined that our derivative valuations were classified within Level 2 of the fair value hierarchy.

Amounts reported in accumulated other comprehensive income related to derivatives will be reclassified to earnings over time as the hedged items are recognized in earnings. Approximately $4.1 million and $13.9 million was reclassified as a reduction to interest expense during the three and nine months ended September 30, 2024, respectively. Approximately $5.5 million and $13.2 million was reclassified as a reduction to interest expense during the three and nine months ended September 30, 2023, respectively. As interest payments on our derivatives are made over the next 12 months, we estimate the decrease to interest expense to be approximately $12.8 million, assuming the current SOFR curve.

Unrealized gains and losses on our interest rate derivative agreements are the only components of the change in accumulated other comprehensive income.

Distributions

Our Board of Trustees declared a cash distribution of $0.26 per common share and Common Unit for the third quarter of 2024. This distribution was paid on October 16, 2024 to common shareholders and common unitholders of record as of October 9, 2024. For the nine months ended September 30, 2024, we declared cash distributions totaling $0.76 per common share and Common Unit.

For the three and nine months ended September 30, 2023, we declared cash distributions of $0.24 and $0.72 per common share and Common Unit, respectively.

Share Repurchase Program

The Company has an existing share repurchase program under which it may repurchase, from time to time, up to a maximum of $300.0 million of its common shares (the “Share Repurchase Program”). The Company intends to fund any future repurchases under the Share Repurchase Program with cash on hand or availability under the Revolving Facility, subject to any applicable restrictions. The timing of share repurchases and the number of common shares to be repurchased under the Share Repurchase Program will depend upon prevailing market conditions, regulatory requirements and other factors. In February 2024, the Company extended the Share Repurchase Program for an additional year to February 28, 2025, if not terminated or extended prior to that date. As of September 30, 2024, the Company has not repurchased any shares under the Share Repurchase Program.

Basic earnings per share or unit is calculated based on the weighted average number of common shares or units outstanding during the period. Diluted earnings per share or unit is calculated based on the weighted average number of common shares or units outstanding during the period combined with the incremental average common shares or units that would have been outstanding assuming the conversion of all potentially dilutive common shares or units into common shares or units as of the earliest date possible.

Potentially dilutive securities include (i) outstanding options to acquire common shares; (ii) Limited Partner Units, which may be exchanged for either cash or common shares at the Parent Company’s option and under certain circumstances; (iii) AO LTIP Units; (iv) deferred common share units, which may be credited to the personal accounts of non-employee trustees in lieu of compensation paid in cash or the issuance of common shares to such trustees, and (v) common shares issuable upon the exchange of the Company’s Exchangeable Notes. The Company calculates the potential dilutive effect of the Exchangeable Notes under the if-converted method, which considers only the amounts settled in excess of the principal in diluted earnings per share as the principal must be paid in cash. Limited Partner Units have been omitted from the Parent Company’s denominator for the purpose of computing diluted earnings per share since the effect of including those amounts in the denominator would have no dilutive impact. Weighted average Limited Partner Units outstanding were 3.9 million and 3.7 million for the three and nine months ended September 30, 2024, and 3.3 million and 3.1 million for the three and nine months ended September 30, 2023, respectively.

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The following summarizes the calculation of basic and diluted earnings per share for the Parent Company. We have omitted the calculation of basic and diluted earnings per unit since the dilutive securities for the Operating Partnership are the same as those for the Parent Company (dollars in thousands, except per share data):

			Three Months Ended September 30,												Nine Months Ended September 30,
			2024						2023						2024						2023
Numerator:
Net income (loss) attributable to common shareholders – basic and diluted			$	16,729					$	2,070					$	(17,753)					$	39,519
Denominator:
Weighted average common shares outstanding – basic			219,665,836						219,381,248						219,596,590						219,323,570
Effect of dilutive securities:
AO LTIP Units			244,447						529,790						—						430,999
Deferred common share units			68,956						65,042						—						54,974
Exchangeable Notes			117,454						—						—						—
Weighted average common shares outstanding – diluted			220,096,693						219,976,080						219,596,590						219,809,543
Net income (loss) per common share – basic			$	0.08					$	0.01					$	(0.08)					$	0.18
Net income (loss) per common share – diluted			$	0.08					$	0.01					$	(0.08)					$	0.18

Due to the net loss allocable to common shareholders and common unitholders for the nine months ended September 30, 2024, no securities had a dilutive impact for that period.

Other Commitments and Contingencies

We are obligated under various completion guarantees with certain lenders and lease agreements with tenants to complete all or portions of a development project and tenant-specific space currently under construction. We believe we currently have sufficient financing in place to fund these projects and expect to do so primarily through free cash flow or borrowings on the Revolving Facility.

In 2017, we provided a repayment guaranty on a $33.8 million construction loan associated with the development of the Embassy Suites at the University of Notre Dame, consistent with our 35% ownership interest. Our portion of the repayment guaranty was limited to $5.9 million, and the guaranty’s term was through July 1, 2024, the maturity date of the construction loan. In July 2024, the joint venture repaid the construction loan and we contributed $10.2 million representing our 35% share of the debt repaid.

In 2021, we provided repayment and completion guaranties on loans totaling $66.2 million associated with the development of The Corner mixed-use project in the Indianapolis MSA. As of September 30, 2024, the outstanding balance of the loans was $69.9 million, of which our share was $35.0 million.

Legal Proceedings

We are not subject to any material litigation nor, to management’s knowledge, is any material litigation currently threatened against us. We are parties to routine litigation, claims, and administrative proceedings arising in the ordinary course of business. Management believes that such matters will not have a material adverse impact on our consolidated financial condition, results of operations or cash flows taken as a whole.

Subsequent to September 30, 2024, we entered into the third amendment to the sixth amended and restated unsecured credit agreement and amended the terms of the $250M Term Loan. See Note 7 to the consolidated financial statements for further details.

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v3.24.3

Cover Page - shares	9 Months Ended
	Sep. 30, 2024	Oct. 25, 2024
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	001-32268
Entity Registrant Name	KITE REALTY GROUP TRUST
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	11-3715772
Entity Address, Address Line One	30 S. Meridian Street
Entity Address, Address Line Two	Suite 1100
Entity Address, City or Town	Indianapolis
Entity Address, State or Province	IN
Entity Address, Postal Zip Code	46204
City Area Code	317
Local Phone Number	577-5600
Title of 12(b) Security	Common Shares, $0.01 par value per share
Trading Symbol	KRG
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		219,666,129
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Entity Central Index Key	0001286043
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Kite Realty Group, L.P.
Entity Information [Line Items]
Entity File Number	333-202666-01
Entity Registrant Name	KITE REALTY GROUP, L.P.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-1453863
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001636315

v3.24.3

Consolidated Balance Sheets (Unaudited) - KRG Trust - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Assets:
Investment properties, at cost	$ 7,607,849	$ 7,740,061
Less: accumulated depreciation	(1,516,840)	(1,381,770)
Net investment properties	6,091,009	6,358,291
Cash and cash equivalents	117,530	36,413
Tenant and other receivables, including accrued straight-line rent of $65,334 and $55,482, respectively	113,811	113,290
Restricted cash and escrow deposits	5,503	5,017
Deferred costs, net	252,163	304,171
Short-term deposits	350,000	0
Prepaid and other assets	106,258	117,834
Investments in unconsolidated subsidiaries	18,803	9,062
Assets associated with investment property held for sale	74,657	0
Total assets	7,129,734	6,944,078
Liabilities:
Mortgage and other indebtedness, net	3,239,928	2,829,202
Accounts payable and accrued expenses	188,928	198,079
Deferred revenue and other liabilities	248,852	272,942
Liabilities associated with investment property held for sale	3,757	0
Total liabilities	3,681,465	3,300,223
Commitments and contingencies
Limited Partners’ interests in the Operating Partnership	97,026	73,287
Equity:
Common shares, $0.01 par value, 490,000,000 shares authorized, 219,666,129 and 219,448,429 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively	2,197	2,194
Additional paid-in capital	4,867,235	4,886,592
Accumulated other comprehensive income	37,704	52,435
Accumulated deficit	(1,557,767)	(1,373,083)
Total shareholders’ equity/Partners’ equity	3,349,369	3,568,138
Noncontrolling interests	1,874	2,430
Total equity	3,351,243	3,570,568
Total liabilities and equity	$ 7,129,734	$ 6,944,078

v3.24.3

Consolidated Balance Sheets (Unaudited) (Parenthetical) - KRG Trust - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Accrued straight-line rent	$ 65,334	$ 55,482
Common shares, par value (in USD per share)	$ 0.01	$ 0.01
Common shares, shares authorized (in shares)	490,000,000	490,000,000
Common shares, shares issued (in shares)	219,666,129	219,448,429
Common shares, shares outstanding (in shares)	219,666,129	219,448,429

v3.24.3

Consolidated Statements of Operations and Comprehensive Income (Unaudited) - KRG Trust - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenue:
Rental income	$ 204,934	$ 203,990	$ 616,583	$ 612,889
Total revenue	207,253	207,219	627,126	622,728
Expenses:
Property operating	27,756	27,644	84,401	82,190
Real estate taxes	25,220	26,453	78,247	80,333
General, administrative and other	13,259	13,917	39,009	41,800
Depreciation and amortization	96,656	105,930	296,326	323,463
Impairment charges	0	477	66,201	477
Total expenses	162,891	174,421	564,184	528,263
Gain (loss) on sales of operating properties, net	602	(5,972)	(864)	22,468
Operating income	44,964	26,826	62,078	116,933
Interest expense	(31,640)	(25,484)	(92,985)	(78,114)
Income tax expense of taxable REIT subsidiaries	(35)	(68)	(325)	(84)
Equity in loss of unconsolidated subsidiaries	(607)	(47)	(1,201)	(173)
Gain on sale of unconsolidated property, net	0	0	2,325	0
Other income, net	4,371	950	12,294	1,657
Net income (loss)	17,053	2,177	(17,814)	40,219
Net (income) loss attributable to noncontrolling interests	(324)	(107)	61	(700)
Net income (loss) attributable to common shareholders	$ 16,729	$ 2,070	$ (17,753)	$ 39,519
Net income (loss) per common share
Net income (loss) per common share – basic (in USD per share)	$ 0.08	$ 0.01	$ (0.08)	$ 0.18
Net income (loss) per common share– diluted (in USD per share)	$ 0.08	$ 0.01	$ (0.08)	$ 0.18
Weighted average common shares outstanding – basic (in shares)	219,665,836	219,381,248	219,596,590	219,323,570
Weighted average common shares outstanding – diluted (in shares)	220,096,693	219,976,080	219,596,590	219,809,543
Net income (loss)	$ 17,053	$ 2,177	$ (17,814)	$ 40,219
Change in fair value of derivatives	(12,700)	(3,040)	(14,867)	(6,043)
Total comprehensive income (loss)	4,353	(863)	(32,681)	34,176
Comprehensive (income) loss attributable to noncontrolling interests	(175)	(195)	197	(806)
Comprehensive income (loss) attributable to the Company	4,178	(1,058)	(32,484)	33,370
Other property-related revenue
Revenue:
Other revenue	1,864	2,172	6,321	5,971
Fee income
Revenue:
Other revenue	$ 455	$ 1,057	$ 4,222	$ 3,868

v3.24.3

Consolidated Statements of Shareholders' Equity (Unaudited) - KRG Trust - USD ($) $ in Thousands	Total	Common Shares	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
Balance at beginning of period (in shares) at Dec. 31, 2022		219,185,658
Balance at beginning of period at Dec. 31, 2022	$ 3,766,515	$ 2,192	$ 4,897,736	$ 74,344	$ (1,207,757)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock compensation activity (in shares)		140,240
Stock compensation activity	2,135	$ 1	2,134
Other comprehensive income (loss)	(11,557)			(11,557)
Distributions to common shareholders	(52,659)				(52,659)
Net income (loss) attributable to common shareholders	5,391				5,391
Adjustment to redeemable noncontrolling interests	(3,821)		(3,821)
Balance at end of period (in shares) at Mar. 31, 2023		219,325,898
Balance at end of period at Mar. 31, 2023	3,706,004	$ 2,193	4,896,049	62,787	(1,255,025)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock compensation activity (in shares)		48,377
Stock compensation activity	2,960	$ 1	2,959
Other comprehensive income (loss)	8,536			8,536
Distributions to common shareholders	(52,650)				(52,650)
Net income (loss) attributable to common shareholders	32,058				32,058
Adjustment to redeemable noncontrolling interests	(4,101)		(4,101)
Balance at end of period (in shares) at Jun. 30, 2023		219,374,275
Balance at end of period at Jun. 30, 2023	3,692,807	$ 2,194	4,894,907	71,323	(1,275,617)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock compensation activity (in shares)		(91)
Stock compensation activity	2,968		2,968
Other comprehensive income (loss)	(3,128)			(3,128)
Distributions to common shareholders	(52,653)				(52,653)
Net income (loss) attributable to common shareholders	2,070				2,070
Exchange of redeemable noncontrolling interests for common shares (in shares)		13,161
Exchange of redeemable noncontrolling interests for common shares	301		301
Adjustment to redeemable noncontrolling interests	(7,071)		(7,071)
Balance at end of period (in shares) at Sep. 30, 2023		219,387,345
Balance at end of period at Sep. 30, 2023	$ 3,635,294	$ 2,194	4,891,105	68,195	(1,326,200)
Balance at beginning of period (in shares) at Dec. 31, 2023	219,448,429	219,448,429
Balance at beginning of period at Dec. 31, 2023	$ 3,568,138	$ 2,194	4,886,592	52,435	(1,373,083)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock compensation activity (in shares)		155,433
Stock compensation activity	1,993	$ 2	1,991
Other comprehensive income (loss)	2,456			2,456
Distributions to common shareholders	(54,901)				(54,901)
Net income (loss) attributable to common shareholders	14,156				14,156
Adjustment to redeemable noncontrolling interests	(1,010)		(1,010)
Balance at end of period (in shares) at Mar. 31, 2024		219,603,862
Balance at end of period at Mar. 31, 2024	3,530,832	$ 2,196	4,887,573	54,891	(1,413,828)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock compensation activity (in shares)		51,091
Stock compensation activity	3,078	$ 1	3,077
Other comprehensive income (loss)	(4,636)			(4,636)
Distributions to common shareholders	(54,917)				(54,917)
Net income (loss) attributable to common shareholders	(48,638)				(48,638)
Adjustment to redeemable noncontrolling interests	(4,118)		(4,118)
Balance at end of period (in shares) at Jun. 30, 2024		219,654,953
Balance at end of period at Jun. 30, 2024	3,421,601	$ 2,197	4,886,532	50,255	(1,517,383)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock compensation activity (in shares)		11,176
Stock compensation activity	2,553		2,553
Other comprehensive income (loss)	(12,551)			(12,551)
Distributions to common shareholders	(57,113)				(57,113)
Net income (loss) attributable to common shareholders	16,729				16,729
Adjustment to redeemable noncontrolling interests	$ (21,850)		(21,850)
Balance at end of period (in shares) at Sep. 30, 2024	219,666,129	219,666,129
Balance at end of period at Sep. 30, 2024	$ 3,349,369	$ 2,197	$ 4,867,235	$ 37,704	$ (1,557,767)

v3.24.3

Consolidated Statements of Cash Flows (Unaudited) - KRG Trust - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net (loss) income	$ (17,814)	$ 40,219
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	299,304	326,148
Loss (gain) on sales of operating properties, net	864	(22,468)
Gain on sale of unconsolidated property, net	(2,325)	0
Impairment charges	66,201	477
Straight-line rent	(10,066)	(9,723)
Compensation expense for equity awards	8,051	7,763
Amortization of debt fair value adjustments	(9,264)	(10,027)
Amortization of in-place lease liabilities	(6,920)	(9,228)
Changes in assets and liabilities:
Tenant receivables	6,639	(2,104)
Deferred costs and other assets	(18,158)	(26,727)
Accounts payable, accrued expenses, deferred revenue and other liabilities	(8,463)	(3,153)
Net cash provided by operating activities	308,049	291,177
Cash flows from investing activities:
Acquisitions of interests in properties	(39,561)	(78,273)
Capital expenditures	(101,915)	(98,694)
Net proceeds from sales of land	6,756	917
Net proceeds from sales of operating properties	30,409	123,944
Investment in short-term deposits	(615,000)	0
Proceeds from short-term deposits	265,000	0
Small business loan repayments	0	341
Change in construction payables	(4,941)	(3,718)
Distribution from unconsolidated joint venture	1,618	0
Capital contributions to unconsolidated joint ventures	(11,825)	0
Net cash used in investing activities	(469,459)	(55,483)
Cash flows from financing activities:
Proceeds from issuance of common shares, net	49	64
Repurchases of common shares upon the vesting of restricted shares	(907)	(767)
Debt and equity issuance costs	(7,306)	(377)
Loan proceeds	732,993	332,095
Loan payments	(313,464)	(467,149)
Distributions paid – common shareholders	(164,680)	(157,893)
Distributions paid – redeemable noncontrolling interests	(2,687)	(2,127)
Distributions to noncontrolling interests	(760)	(3,196)
Net cash provided by (used in) financing activities	243,238	(299,350)
Net change in cash, cash equivalents and restricted cash	81,828	(63,656)
Cash, cash equivalents and restricted cash, beginning of period	41,430	121,970
Cash, cash equivalents and restricted cash, end of period	123,258	58,314
Non-cash investing and financing activities
Exchange of redeemable noncontrolling interests for common shares	$ 0	$ 301

v3.24.3

Consolidated Balance Sheets (Unaudited) - KRG, LP - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Assets:
Investment properties, at cost	$ 7,607,849	$ 7,740,061
Less: accumulated depreciation	(1,516,840)	(1,381,770)
Net investment properties	6,091,009	6,358,291
Cash and cash equivalents	117,530	36,413
Tenant and other receivables, including accrued straight-line rent of $65,334 and $55,482, respectively	113,811	113,290
Restricted cash and escrow deposits	5,503	5,017
Deferred costs, net	252,163	304,171
Short-term deposits	350,000	0
Prepaid and other assets	106,258	117,834
Investments in unconsolidated subsidiaries	18,803	9,062
Assets associated with investment property held for sale	74,657	0
Total assets	7,129,734	6,944,078
Liabilities:
Mortgage and other indebtedness, net	3,239,928	2,829,202
Accounts payable and accrued expenses	188,928	198,079
Deferred revenue and other liabilities	248,852	272,942
Liabilities associated with investment property held for sale	3,757	0
Total liabilities	3,681,465	3,300,223
Commitments and contingencies
Limited Partners’ interests in the Operating Partnership	97,026	73,287
Partners’ Equity:
Common equity, 219,666,129 and 219,448,429 units issued and outstanding at September 30, 2024 and December 31, 2023, respectively	2,197	2,194
Accumulated other comprehensive income	37,704	52,435
Total shareholders’ equity/Partners’ equity	3,349,369	3,568,138
Noncontrolling interests	1,874	2,430
Total equity	3,351,243	3,570,568
Total liabilities and equity	7,129,734	6,944,078
Kite Realty Group, L.P.
Assets:
Investment properties, at cost	7,607,849	7,740,061
Less: accumulated depreciation	(1,516,840)	(1,381,770)
Net investment properties	6,091,009	6,358,291
Cash and cash equivalents	117,530	36,413
Tenant and other receivables, including accrued straight-line rent of $65,334 and $55,482, respectively	113,811	113,290
Restricted cash and escrow deposits	5,503	5,017
Deferred costs, net	252,163	304,171
Short-term deposits	350,000	0
Prepaid and other assets	106,258	117,834
Investments in unconsolidated subsidiaries	18,803	9,062
Assets associated with investment property held for sale	74,657	0
Total assets	7,129,734	6,944,078
Liabilities:
Mortgage and other indebtedness, net	3,239,928	2,829,202
Accounts payable and accrued expenses	188,928	198,079
Deferred revenue and other liabilities	248,852	272,942
Liabilities associated with investment property held for sale	3,757	0
Total liabilities	3,681,465	3,300,223
Commitments and contingencies
Limited Partners’ interests in the Operating Partnership	97,026	73,287
Partners’ Equity:
Common equity, 219,666,129 and 219,448,429 units issued and outstanding at September 30, 2024 and December 31, 2023, respectively	3,311,665	3,515,703
Accumulated other comprehensive income	37,704	52,435
Total shareholders’ equity/Partners’ equity	3,349,369	3,568,138
Noncontrolling interests	1,874	2,430
Total equity	3,351,243	3,570,568
Total liabilities and equity	$ 7,129,734	$ 6,944,078

v3.24.3

Consolidated Balance Sheets (Unaudited) (Parenthetical) - KRG, LP - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Accrued straight-line rent	$ 65,334	$ 55,482
Common shares, shares issued (in shares)	219,666,129	219,448,429
Common shares, shares outstanding (in shares)	219,666,129	219,448,429
Kite Realty Group, L.P.
Accrued straight-line rent	$ 65,334	$ 55,482
Common shares, shares issued (in shares)	219,666,129	219,448,429
Common shares, shares outstanding (in shares)	219,666,129	219,448,429

v3.24.3

Consolidated Statements of Operations and Comprehensive Income (Unaudited) - KRG, LP - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenue:
Rental income	$ 204,934	$ 203,990	$ 616,583	$ 612,889
Total revenue	207,253	207,219	627,126	622,728
Expenses:
Property operating	27,756	27,644	84,401	82,190
Real estate taxes	25,220	26,453	78,247	80,333
General, administrative and other	13,259	13,917	39,009	41,800
Depreciation and amortization	96,656	105,930	296,326	323,463
Impairment charges	0	477	66,201	477
Total expenses	162,891	174,421	564,184	528,263
Gain (loss) on sales of operating properties, net	602	(5,972)	(864)	22,468
Operating income	44,964	26,826	62,078	116,933
Interest expense	(31,640)	(25,484)	(92,985)	(78,114)
Income tax expense of taxable REIT subsidiaries	(35)	(68)	(325)	(84)
Equity in loss of unconsolidated subsidiaries	(607)	(47)	(1,201)	(173)
Gain on sale of unconsolidated property, net	0	0	2,325	0
Other income, net	4,371	950	12,294	1,657
Net income (loss)	17,053	2,177	(17,814)	40,219
Net income attributable to noncontrolling interests	(324)	(107)	61	(700)
Net income (loss) attributable to common shareholders	$ 16,729	$ 2,070	$ (17,753)	$ 39,519
Net income (loss) per common share
Net income (loss) per common share – basic (in USD per share)	$ 0.08	$ 0.01	$ (0.08)	$ 0.18
Net income (loss) per common share– diluted (in USD per share)	$ 0.08	$ 0.01	$ (0.08)	$ 0.18
Weighted average common units outstanding – basic (in shares)	219,665,836	219,381,248	219,596,590	219,323,570
Weighted average common units outstanding – diluted (in shares)	220,096,693	219,976,080	219,596,590	219,809,543
Net income (loss)	$ 17,053	$ 2,177	$ (17,814)	$ 40,219
Change in fair value of derivatives	(12,700)	(3,040)	(14,867)	(6,043)
Total comprehensive income (loss)	4,353	(863)	(32,681)	34,176
Comprehensive income attributable to noncontrolling interests	(175)	(195)	197	(806)
Comprehensive income (loss) attributable to the Company	4,178	(1,058)	(32,484)	33,370
Other property-related revenue
Revenue:
Other revenue	1,864	2,172	6,321	5,971
Fee income
Revenue:
Other revenue	455	1,057	4,222	3,868
Kite Realty Group, L.P.
Revenue:
Rental income	204,934	203,990	616,583	612,889
Total revenue	207,253	207,219	627,126	622,728
Expenses:
Property operating	27,756	27,644	84,401	82,190
Real estate taxes	25,220	26,453	78,247	80,333
General, administrative and other	13,259	13,917	39,009	41,800
Depreciation and amortization	96,656	105,930	296,326	323,463
Impairment charges	0	477	66,201	477
Total expenses	162,891	174,421	564,184	528,263
Gain (loss) on sales of operating properties, net	602	(5,972)	(864)	22,468
Operating income	44,964	26,826	62,078	116,933
Interest expense	(31,640)	(25,484)	(92,985)	(78,114)
Income tax expense of taxable REIT subsidiaries	(35)	(68)	(325)	(84)
Equity in loss of unconsolidated subsidiaries	(607)	(47)	(1,201)	(173)
Gain on sale of unconsolidated property, net	0	0	2,325	0
Other income, net	4,371	950	12,294	1,657
Net income (loss)	17,053	2,177	(17,814)	40,219
Net income attributable to noncontrolling interests	(63)	(67)	(204)	(201)
Net income (loss) attributable to common shareholders	16,990	2,110	(18,018)	40,018
Allocation of net income (loss):
Limited Partners	261	40	(265)	499
Parent Company	$ 16,729	$ 2,070	$ (17,753)	$ 39,519
Net income (loss) per common share
Net income (loss) per common share – basic (in USD per share)	$ 0.08	$ 0.01	$ (0.08)	$ 0.18
Net income (loss) per common share– diluted (in USD per share)	$ 0.08	$ 0.01	$ (0.08)	$ 0.18
Weighted average common units outstanding – basic (in shares)	223,529,610	222,649,706	223,323,641	222,409,769
Weighted average common units outstanding – diluted (in shares)	223,960,467	223,244,538	223,323,641	222,895,742
Net income (loss)	$ 17,053	$ 2,177	$ (17,814)	$ 40,219
Change in fair value of derivatives	(12,700)	(3,040)	(14,867)	(6,043)
Total comprehensive income (loss)	4,353	(863)	(32,681)	34,176
Comprehensive income attributable to noncontrolling interests	(63)	(67)	(204)	(201)
Comprehensive income (loss) attributable to the Company	4,290	(930)	(32,885)	33,975
Kite Realty Group, L.P. | Other property-related revenue
Revenue:
Other revenue	1,864	2,172	6,321	5,971
Kite Realty Group, L.P. | Fee income
Revenue:
Other revenue	$ 455	$ 1,057	$ 4,222	$ 3,868

v3.24.3

Consolidated Statements of Partners' Equity (Unaudited) - KRG, LP - USD ($) $ in Thousands	Total	Kite Realty Group, L.P.	Kite Realty Group, L.P. General Partner Common Equity	Kite Realty Group, L.P. General Partner Accumulated Other Comprehensive Income (Loss)
Partners' capital, balance at beginning of period at Dec. 31, 2022		$ 3,766,515	$ 3,692,171	$ 74,344
Increase (Decrease) in Partners' Capital [Roll Forward]
Stock compensation activity		2,135	2,135
Other comprehensive income (loss) attributable to Parent Company	$ (11,557)	(11,557)		(11,557)
Distributions to Parent Company		(52,659)	(52,659)
Net income (loss) attributable to Parent Company	5,391	5,391	5,391
Adjustment to redeemable noncontrolling interests		(3,821)	(3,821)
Partners' capital, balance at end of period at Mar. 31, 2023		3,706,004	3,643,217	62,787
Increase (Decrease) in Partners' Capital [Roll Forward]
Stock compensation activity		2,960	2,960
Other comprehensive income (loss) attributable to Parent Company	8,536	8,536		8,536
Distributions to Parent Company		(52,650)	(52,650)
Net income (loss) attributable to Parent Company	32,058	32,058	32,058
Adjustment to redeemable noncontrolling interests		(4,101)	(4,101)
Partners' capital, balance at end of period at Jun. 30, 2023		3,692,807	3,621,484	71,323
Increase (Decrease) in Partners' Capital [Roll Forward]
Stock compensation activity		2,968	2,968
Other comprehensive income (loss) attributable to Parent Company	(3,128)	(3,128)		(3,128)
Distributions to Parent Company		(52,653)	(52,653)
Net income (loss) attributable to Parent Company	2,070	2,070	2,070
Conversion of Limited Partner Units to shares of the Parent Company		301	301
Adjustment to redeemable noncontrolling interests		(7,071)	(7,071)
Partners' capital, balance at end of period at Sep. 30, 2023		3,635,294	3,567,099	68,195
Partners' capital, balance at beginning of period at Dec. 31, 2023		3,568,138	3,515,703	52,435
Increase (Decrease) in Partners' Capital [Roll Forward]
Stock compensation activity		1,993	1,993
Other comprehensive income (loss) attributable to Parent Company	2,456	2,456		2,456
Distributions to Parent Company		(54,901)	(54,901)
Net income (loss) attributable to Parent Company	14,156	14,156	14,156
Adjustment to redeemable noncontrolling interests		(1,010)	(1,010)
Partners' capital, balance at end of period at Mar. 31, 2024		3,530,832	3,475,941	54,891
Increase (Decrease) in Partners' Capital [Roll Forward]
Stock compensation activity		3,078	3,078
Other comprehensive income (loss) attributable to Parent Company	(4,636)	(4,636)		(4,636)
Distributions to Parent Company		(54,917)	(54,917)
Net income (loss) attributable to Parent Company	(48,638)	(48,638)	(48,638)
Adjustment to redeemable noncontrolling interests		(4,118)	(4,118)
Partners' capital, balance at end of period at Jun. 30, 2024		3,421,601	3,371,346	50,255
Increase (Decrease) in Partners' Capital [Roll Forward]
Stock compensation activity		2,553	2,553
Other comprehensive income (loss) attributable to Parent Company	(12,551)	(12,551)		(12,551)
Distributions to Parent Company		(57,113)	(57,113)
Net income (loss) attributable to Parent Company	$ 16,729	16,729	16,729
Adjustment to redeemable noncontrolling interests		(21,850)	(21,850)
Partners' capital, balance at end of period at Sep. 30, 2024		$ 3,349,369	$ 3,311,665	$ 37,704

v3.24.3

Consolidated Statements of Cash Flows (Unaudited) - KRG, LP - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net (loss) income	$ (17,814)	$ 40,219
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	299,304	326,148
Loss (gain) on sales of operating properties, net	864	(22,468)
Gain on sale of unconsolidated property, net	(2,325)	0
Impairment charges	66,201	477
Straight-line rent	(10,066)	(9,723)
Compensation expense for equity awards	8,051	7,763
Amortization of debt fair value adjustments	(9,264)	(10,027)
Amortization of in-place lease liabilities	(6,920)	(9,228)
Changes in assets and liabilities:
Tenant receivables	6,639	(2,104)
Deferred costs and other assets	(18,158)	(26,727)
Accounts payable, accrued expenses, deferred revenue and other liabilities	(8,463)	(3,153)
Net cash provided by operating activities	308,049	291,177
Cash flows from investing activities:
Acquisitions of interests in properties	(39,561)	(78,273)
Capital expenditures	(101,915)	(98,694)
Net proceeds from sales of land	6,756	917
Net proceeds from sales of operating properties	30,409	123,944
Investment in short-term deposits	(615,000)	0
Proceeds from short-term deposits	265,000	0
Small business loan repayments	0	341
Change in construction payables	(4,941)	(3,718)
Distribution from unconsolidated joint venture	1,618	0
Capital contributions to unconsolidated joint ventures	(11,825)	0
Net cash used in investing activities	(469,459)	(55,483)
Cash flows from financing activities:
Contributions from the General Partner	49	64
Repurchases of common shares upon the vesting of restricted shares	(907)	(767)
Debt and equity issuance costs	(7,306)	(377)
Loan proceeds	732,993	332,095
Loan payments	(313,464)	(467,149)
Distributions paid – common unitholders	(164,680)	(157,893)
Distributions paid – redeemable noncontrolling interests	(2,687)	(2,127)
Distributions to noncontrolling interests	(760)	(3,196)
Net cash provided by (used in) financing activities	243,238	(299,350)
Net change in cash, cash equivalents and restricted cash	81,828	(63,656)
Cash, cash equivalents and restricted cash, beginning of period	41,430	121,970
Cash, cash equivalents and restricted cash, end of period	123,258	58,314
Non-cash investing and financing activities
Conversion of Limited Partner Units to shares of the Parent Company	0	301
Kite Realty Group, L.P.
Cash flows from operating activities:
Net (loss) income	(17,814)	40,219
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	299,304	326,148
Loss (gain) on sales of operating properties, net	864	(22,468)
Gain on sale of unconsolidated property, net	(2,325)	0
Impairment charges	66,201	477
Straight-line rent	(10,066)	(9,723)
Compensation expense for equity awards	8,051	7,763
Amortization of debt fair value adjustments	(9,264)	(10,027)
Amortization of in-place lease liabilities	(6,920)	(9,228)
Changes in assets and liabilities:
Tenant receivables	6,639	(2,104)
Deferred costs and other assets	(18,158)	(26,727)
Accounts payable, accrued expenses, deferred revenue and other liabilities	(8,463)	(3,153)
Net cash provided by operating activities	308,049	291,177
Cash flows from investing activities:
Acquisitions of interests in properties	(39,561)	(78,273)
Capital expenditures	(101,915)	(98,694)
Net proceeds from sales of land	6,756	917
Net proceeds from sales of operating properties	30,409	123,944
Investment in short-term deposits	(615,000)	0
Proceeds from short-term deposits	265,000	0
Small business loan repayments	0	341
Change in construction payables	(4,941)	(3,718)
Distribution from unconsolidated joint venture	1,618	0
Capital contributions to unconsolidated joint ventures	(11,825)	0
Net cash used in investing activities	(469,459)	(55,483)
Cash flows from financing activities:
Contributions from the General Partner	49	64
Repurchases of common shares upon the vesting of restricted shares	(907)	(767)
Debt and equity issuance costs	(7,306)	(377)
Loan proceeds	732,993	332,095
Loan payments	(313,464)	(467,149)
Distributions paid – common unitholders	(164,680)	(157,893)
Distributions paid – redeemable noncontrolling interests	(2,687)	(2,127)
Distributions to noncontrolling interests	(760)	(3,196)
Net cash provided by (used in) financing activities	243,238	(299,350)
Net change in cash, cash equivalents and restricted cash	81,828	(63,656)
Cash, cash equivalents and restricted cash, beginning of period	41,430	121,970
Cash, cash equivalents and restricted cash, end of period	123,258	58,314
Non-cash investing and financing activities
Conversion of Limited Partner Units to shares of the Parent Company	$ 0	$ 301

v3.24.3

ORGANIZATION AND BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND BASIS OF PRESENTATION	ORGANIZATION AND BASIS OF PRESENTATION Kite Realty Group Trust (the “Parent Company”), through its majority-owned subsidiary, Kite Realty Group, L.P. (the “Operating Partnership”), owns interests in various operating subsidiaries and joint ventures engaged in the ownership, operation, acquisition, development and redevelopment of high-quality, open-air shopping centers and mixed-use assets that are primarily grocery-anchored and located in high-growth Sun Belt markets and select strategic gateway markets in the United States. The terms “Company,” “we,” “us,” and “our” refer to the Parent Company and the Operating Partnership, collectively, and those entities owned or controlled by the Parent Company and/or the Operating Partnership. The Operating Partnership was formed on August 16, 2004, when the Parent Company contributed properties and the net proceeds from an initial public offering (“IPO”) of shares of its common stock to the Operating Partnership. The Parent Company was organized in Maryland in 2004 to succeed in the development, acquisition, construction and real estate businesses of its predecessor. We believe the Company qualifies as a real estate investment trust (“REIT”) under sections 856-860 of the Internal Revenue Code of 1986, as amended. The Parent Company is the sole general partner of the Operating Partnership and, as of September 30, 2024, owned approximately 98.2% of the common partnership interests in the Operating Partnership (“General Partner Units”). The remaining 1.8% of the common partnership interests (“Limited Partner Units” and, together with the General Partner Units, the “Common Units”) were owned by the limited partners. As the sole general partner of the Operating Partnership, the Parent Company has full, exclusive and complete responsibility and discretion in the day-to-day management and control of the Operating Partnership. The Parent Company and the Operating Partnership are operated as one enterprise. The management of the Parent Company consists of the same members as the management of the Operating Partnership. As the sole general partner with control of the Operating Partnership, the Parent Company consolidates the Operating Partnership for financial reporting purposes, and the Parent Company does not have any significant assets other than its investment in the Operating Partnership. The accompanying unaudited consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in the financial statements prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) may have been condensed or omitted pursuant to such rules and regulations, although management believes that the disclosures are adequate to make the presentation not misleading. The unaudited consolidated financial statements as of September 30, 2024 and for the three and nine months ended September 30, 2024 and 2023 include all adjustments, consisting of normal recurring adjustments, necessary in the opinion of management to present fairly the financial information set forth therein. The unaudited consolidated financial statements in this Form 10-Q should be read in conjunction with the audited consolidated financial statements and related notes thereto included in the combined Annual Report on Form 10-K of the Parent Company and the Operating Partnership for the year ended December 31, 2023. The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and revenues and expenses during the reported period. Actual results could differ from these estimates. The results of operations for the interim periods are not necessarily indicative of the results that may be expected on an annual basis. As of September 30, 2024, the Company’s portfolio consisted of the following: Properties Square Footage Operating retail properties(1) 179  27,720,361  Office properties 1  287,291  Development and redevelopment projects: Carillon medical office building 1  126,000  The Corner – IN(2) 1  24,000  One Loudoun Expansion(3) —  119,000  Hamilton Crossing Centre 1  92,283  Edwards Multiplex – Ontario 1  124,614  (1)Included within operating retail properties are 10 properties that contain an office component. Excludes one operating retail property classified as held for sale as of September 30, 2024. Of the 179 operating retail properties, 176 are consolidated within these financial statements and the remaining three are accounted for under the equity method. (2)This property is held in an unconsolidated joint venture in which the Company has a 50% ownership interest. (3)During the three months ended September 30, 2024, the Company began development activities on the retail and office portions of the expansion project at One Loudoun Downtown (the “One Loudoun Expansion”) in the Washington, D.C. metropolitan statistical area (“MSA”). The Company estimates that it will incur net project costs of approximately $65.0 million to $75.0 million related to the One Loudoun Expansion.

v3.24.3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Components of Investment Properties The following table summarizes the composition of the Company’s investment properties as of September 30, 2024 and December 31, 2023 (in thousands): Balance as of September 30, 2024 December 31, 2023 Land, buildings and improvements $ 7,543,145  $ 7,684,066  Construction in progress 64,704  55,995  Investment properties, at cost $ 7,607,849  $ 7,740,061  Components of Rental Income including Allowance for Uncollectible Accounts Rental income related to the Company’s operating leases is comprised of the following for the three and nine months ended September 30, 2024 and 2023 (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Fixed contractual lease payments – operating leases $ 163,913  $ 159,491  $ 486,126  $ 478,215  Variable lease payments – operating leases 36,939  38,100  117,072  117,730  Bad debt reserve (1,468) (219) (3,601) (2,007) Straight-line rent adjustments 3,595  3,132  9,787  9,900  Straight-line rent reserve for uncollectibility (309) (367) 279  (177) Amortization of in-place lease liabilities, net 2,264  3,853  6,920  9,228  Rental income $ 204,934  $ 203,990  $ 616,583  $ 612,889  The Company makes estimates as to the collectability of its accounts receivable. In making these estimates, the Company reviews a variety of qualitative and quantitative data and considers such factors as the credit quality of our customer, historical write-off experience and current economic trends, to make a subjective determination. An allowance for uncollectible accounts, including future credit losses of the accrued straight-line rent receivables, is maintained for estimated losses resulting from the inability of certain tenants to meet contractual obligations under their lease agreements. Short-Term Deposits In January 2024, the Company invested $265.0 million in short-term deposits at Goldman Sachs Bank USA (“Goldman Sachs”) and KeyBank National Association (“KeyBank”). These short-term deposits earned interest at a weighted average interest rate of 5.34% with a final maturity date of July 22, 2024. During the nine months ended September 30, 2024, the Company earned $6.3 million of interest income on the January 2024 deposits, which is recorded within “Other income, net” in the accompanying consolidated statements of operations and comprehensive income. In August 2024, the Company invested $350.0 million in short-term deposits at Goldman Sachs and KeyBank. The deposit balance approximates fair value and earns interest at a weighted average interest rate of 5.05% with a final maturity date in February 2025. During the three months ended September 30, 2024, the Company earned $2.2 million of interest income on the August 2024 deposits, which is recorded within “Other income, net” in the accompanying consolidated statements of operations and comprehensive income. Consolidation and Investments in Joint Ventures The accompanying financial statements are presented on a consolidated basis and include all accounts of the Parent Company, the Operating Partnership, the taxable REIT subsidiaries (“TRSs”) of the Operating Partnership, subsidiaries of the Operating Partnership that are controlled, and any variable interest entities (“VIEs”) in which the Operating Partnership is the primary beneficiary. As of September 30, 2024, we owned investments in two consolidated joint ventures that were VIEs in which the partners did not have substantive participating rights and we were the primary beneficiary. As of September 30, 2024, these consolidated VIEs had mortgage debt totaling $110.3 million, which was secured by assets of the VIEs totaling $218.1 million. The Operating Partnership guarantees the mortgage debt of these VIEs. The Operating Partnership is considered a VIE as the limited partners do not hold kick-out rights or substantive participating rights. The Parent Company consolidates the Operating Partnership as it is the primary beneficiary. As of September 30, 2024, the Company also owned investments in four unconsolidated joint ventures accounted for under the equity method, which are not considered VIEs. On January 31, 2024, the joint venture that owned Glendale Center Apartments, of which we have an 11.5% ownership interest, sold the 267-unit property to a third party, resulting in a gain on sale of $20.2 million. The Company recognized its share of the gain on sale of unconsolidated property of $2.3 million during the nine months ended September 30, 2024. In addition, the Company received a $1.6 million distribution upon the disposition of the property. The Company maintains an investment in the joint venture, which is in the process of winding up its activities and distributing remaining net assets. Glendale Center Apartments is adjacent to our Glendale Town Center operating retail property in the Indianapolis MSA. Income Taxes and REIT Compliance Parent Company The Parent Company has been organized and operated, and intends to continue to operate, in a manner that will enable it to maintain its qualification as a REIT for U.S. federal income tax purposes. As a result, it generally will not be subject to U.S. federal income tax on the earnings that it distributes to the extent it distributes its “REIT taxable income” (determined before the deduction for dividends paid and excluding net capital gains) to shareholders of the Parent Company and meets certain other requirements on a recurring basis. To the extent that it satisfies this distribution requirement but distributes less than 100% of its taxable income, it will be subject to U.S. federal income tax on its undistributed REIT taxable income at regular corporate income tax rates. REITs are subject to a number of organizational and operational requirements. If the Parent Company fails to qualify as a REIT in any taxable year, it will be subject to U.S. federal income tax on its taxable income at regular corporate income tax rates for a period of four years following the year in which qualification is lost. Additionally, we may also be subject to certain taxes enacted by the Inflation Reduction Act of 2022 that are applicable to non-REIT corporations, including the nondeductible 1% excise tax on certain stock repurchases. We may also be subject to certain U.S. federal, state and local taxes on our income and property and to U.S. federal income and excise taxes on our undistributed taxable income even if the Parent Company does qualify as a REIT. The Operating Partnership intends to continue to make distributions to the Parent Company in amounts sufficient to assist the Parent Company in adhering to REIT requirements and maintaining its REIT status. We have elected to treat Kite Realty Holdings, LLC and IWR Protective Corporation as TRSs with respect to the REIT, and we may elect to treat other subsidiaries as TRSs in the future. This election enables us to receive income and provide services that would otherwise be impermissible for a REIT. Deferred tax assets and liabilities are established for temporary differences between the financial reporting bases and the tax bases of assets and liabilities at the tax rates expected to be in effect when the temporary differences reverse. Deferred tax assets are reduced by a valuation allowance if it is more likely than not that some portion or all of the deferred tax asset will not be realized. Operating Partnership The allocated share of income and loss, other than the operations of our TRSs, is included in the income tax returns of the Operating Partnership’s partners. Accordingly, the only U.S. federal income taxes included in the accompanying consolidated financial statements are in connection with the TRSs. Noncontrolling Interests We report the non-redeemable noncontrolling interests in subsidiaries as equity, and the amount of consolidated net income attributable to these noncontrolling interests is set forth separately in the accompanying consolidated financial statements. The following table summarizes the non-redeemable noncontrolling interests in consolidated properties for the nine months ended September 30, 2024 and 2023 (in thousands): Nine Months Ended September 30, 2024 2023 Noncontrolling interests balance as of January 1, $ 2,430  $ 5,370  Net income allocable to noncontrolling interests, excluding redeemable noncontrolling interests 204  201  Distributions to noncontrolling interests(1) (760) (3,196) Noncontrolling interests balance as of September 30, $ 1,874  $ 2,375  (1)During the nine months ended September 30, 2023, we received a $3.2 million distribution from excess proceeds related to a third-party financing. Noncontrolling Interests – Joint Venture Prior to the October 2021 merger with Retail Properties of America, Inc. (“RPAI”), RPAI entered into a joint venture related to the development, ownership and operation of the multifamily rental portion of the expansion project at One Loudoun Downtown – Pads G & H. The Company owns 90% of the joint venture. Under terms defined in the joint venture agreement, after construction completion and stabilization of the development project (as defined in the joint venture agreement), the Company has the ability to call, and the joint venture partner has the ability to put to the Company, subject to certain conditions, the joint venture partner’s interest in the joint venture at fair value. As of September 30, 2024, the conditions for exercising the put and call options have been met but neither the Company nor the joint venture partner has exercised their respective options. The joint venture is considered a VIE primarily because the Company’s joint venture partner does not have substantive kick-out rights or substantive participating rights. The Company is considered the primary beneficiary as it has a controlling financial interest in the joint venture. As such, the Company has consolidated this joint venture and presented the joint venture partner’s interests as noncontrolling interests. Redeemable Noncontrolling Interests – Limited Partners Limited Partner Units are redeemable noncontrolling interests in the Operating Partnership. We classify redeemable noncontrolling interests in the Operating Partnership in the accompanying consolidated balance sheets outside of permanent equity because we may be required to pay cash to holders of Limited Partner Units upon redemption of their interests in the Operating Partnership or deliver registered shares upon their conversion. The carrying amount of the redeemable noncontrolling interests in the Operating Partnership is reflected at the greater of historical book value or redemption value with a corresponding adjustment to additional paid-in capital. As of September 30, 2024 and December 31, 2023, the redemption value of the redeemable noncontrolling interests in the Operating Partnership exceeded the historical book value, and the balances were accordingly adjusted to redemption value. We allocate net operating results of the Operating Partnership after noncontrolling interests in the consolidated properties based on the partners’ respective weighted average ownership interest. We adjust the redeemable noncontrolling interests in the Operating Partnership at the end of each reporting period to reflect their interests in the Operating Partnership or redemption value. This adjustment is reflected in our shareholders’ and Parent Company’s equity. For the three and nine months ended September 30, 2024 and 2023, the weighted average interests of the Parent Company and the limited partners in the Operating Partnership were as follows: Three Months Ended September 30, Nine Months Ended September 30,   2024 2023 2024 2023 Parent Company’s weighted average interest in the Operating Partnership 98.3  % 98.5  % 98.3  % 98.6  % Limited partners’ weighted average interests in the Operating Partnership 1.7  % 1.5  % 1.7  % 1.4  % As of September 30, 2024, the Parent Company’s interest and the limited partners’ redeemable noncontrolling ownership interests in the Operating Partnership were 98.2% and 1.8%. As of December 31, 2023, the Parent Company’s interest and the limited partners’ redeemable noncontrolling ownership interests in the Operating Partnership were 98.4% and 1.6%. Concurrent with the Parent Company’s IPO and related formation transactions, certain individuals received Limited Partner Units of the Operating Partnership in exchange for their interests in certain properties. The limited partners have the right to redeem Limited Partner Units for cash or, at the Parent Company’s election, common shares of the Parent Company in an amount equal to the market value of an equivalent number of common shares of the Parent Company at the time of redemption. Such common shares must be registered, which is not fully in the Parent Company’s control. Therefore, the limited partners’ interest is not reflected within permanent equity. The Parent Company also has the right to redeem the Limited Partner Units directly from the limited partner in exchange for either cash in the amount specified above or a number of its common shares equal to the number of Limited Partner Units being redeemed. There were 3,960,037 and 3,512,868 Limited Partner Units outstanding as of September 30, 2024 and December 31, 2023, respectively. The increase in Limited Partner Units outstanding from December 31, 2023 is due to non-cash compensation awards granted to our executive officers in the form of Limited Partner Units and the exercise of previously granted Appreciation Only Long-Term Incentive Plan (“AO LTIP”) Units in exchange for Limited Partner Units. The redeemable noncontrolling interests in the Operating Partnership for the nine months ended September 30, 2024 and 2023 were as follows (in thousands): Nine Months Ended September 30, 2024 2023 Redeemable noncontrolling interests balance as of January 1, $ 73,287  $ 53,967  Net (loss) income allocable to redeemable noncontrolling interests (265) 499  Distributions declared to redeemable noncontrolling interests (2,838) (2,281) Other, net including adjustments to redemption value 26,842  14,815  Total limited partners’ interests in the Operating Partnership balance as of September 30, $ 97,026  $ 67,000  Fair Value Measurements We follow the framework established under Financial Accounting Standards Board Accounting Standards Codification (“ASC”) 820, Fair Value Measurements and Disclosures, for measuring fair value of non-financial assets and liabilities that are not required or permitted to be measured at fair value on a recurring basis but only in certain circumstances, such as a business combination or upon determination of an impairment. Assets and liabilities recorded at fair value in the accompanying consolidated balance sheets are categorized based on the inputs to the valuation techniques as follows: •Level 1 fair value inputs are quoted prices in active markets for identical instruments to which we have access. •Level 2 fair value inputs are inputs other than quoted prices included in Level 1 that are observable for similar instruments, either directly or indirectly, and appropriately consider counterparty creditworthiness in the valuation. •Level 3 fair value inputs reflect our best estimate of inputs and assumptions market participants would use in pricing an instrument at the measurement date. The inputs are unobservable in the market and significant to the valuation estimate. In instances where the determination of the fair value measurement is based upon inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. Our assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. Effects of Accounting Pronouncements In March 2024, the SEC issued a final rule, The Enhancement and Standardization of Climate-Related Disclosures for Investors. This final rule is effective for the Company for the fiscal year beginning in 2025 and requires companies to annually disclose climate-related information in registration statements and annual reports, including material climate-related risks and impacts on the Company, information about board oversight, risk management activities, and any material climate-related targets or goals. In addition, the final rule requires disclosure of material Scope 1 and/or Scope 2 greenhouse gas emissions, which will be subject to independent third-party assurance, and the financial statement effects of severe weather events and other natural conditions. In April 2024, the SEC announced a stay of these climate disclosure rules pending judicial review. The Company is continuing to evaluate the impact of this final rule until it becomes effective. In November 2023, the Financial Accounting Standards Board issued Accounting Standards Update 2023-07, Segment Reporting (Topic 280) – Improvements to Reportable Segment Disclosures. This new guidance became effective for the Company on January 1, 2024 and provides new disclosure requirements on significant segment expenses that will begin with the Company’s Annual Report on Form 10-K for the fiscal year ending December 31, 2024. Public entities with a single reportable segment such as the Company must apply all of the new disclosure requirements as well as all existing segment disclosure and reconciliation requirements in Topic 280 on an annual and interim basis. The adoption of this pronouncement on January 1, 2024 did not have any effect on the Company’s consolidated financial statements. The amended disclosure guidance will be applied prospectively.

v3.24.3

ACQUISITIONS	9 Months Ended
	Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
ACQUISITIONS	ACQUISITIONS The Company closed on the following asset acquisition during the nine months ended September 30, 2024 (dollars in thousands): Date Property Name MSA Property Type Square Footage Acquisition Price August 30, 2024 Parkside West Cobb Atlanta Multi-tenant retail 141,627  $ 40,125  The Company closed on the following asset acquisition during the nine months ended September 30, 2023 (dollars in thousands): Date Property Name MSA Property Type Square Footage Acquisition Price September 22, 2023 Prestonwood Place Dallas/Ft. Worth Multi-tenant retail 155,975  $ 81,000  The above acquisitions were funded using a combination of available cash on hand, proceeds from dispositions and proceeds from the Company’s unsecured revolving line of credit. Substantially all of the purchase price was allocated to investment properties.

v3.24.3

DISPOSITIONS AND IMPAIRMENT CHARGES	9 Months Ended
	Sep. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]
DISPOSITIONS AND IMPAIRMENT CHARGES	DISPOSITIONS AND IMPAIRMENT CHARGES The Company closed on the following disposition during the nine months ended September 30, 2024 (dollars in thousands): Date Property Name MSA Property Type Square Footage Sales Price Gain (Loss) May 31, 2024 Ashland & Roosevelt Chicago Multi-tenant retail 104,176  $ 30,600  $ (1,234) In addition, during the three months ended September 30, 2024, the Company received proceeds of $0.6 million and recognized a gain of $0.6 million as a result of the receipt of an escrow related to the disposition of Reisterstown Road Plaza that previously closed on September 11, 2023. The Company closed on the following dispositions during the nine months ended September 30, 2023 (dollars in thousands): Date Property Name MSA Property Type Square Footage Sales Price Gain (Loss) May 8, 2023 Kingwood Commons Houston Multi-tenant retail 158,172  $ 27,350  $ 4,736  June 8, 2023 Pan Am Plaza & Garage Indianapolis Land & garage —  52,025  23,635  September 11, 2023 Reisterstown Road Plaza Baltimore Multi-tenant retail 376,683  48,250  (5,903) 534,855  $ 127,625  $ 22,468  Since June 30, 2024, we have classified City Center, a 362,278 square foot multi-tenant retail property in the New York MSA, as held for sale as the Company has committed to a plan to sell this asset and expects that the sale will be completed within one year. This property qualified for held-for-sale accounting treatment upon meeting all applicable GAAP criteria as of June 30, 2024, at which time depreciation and amortization were ceased. In addition, the assets and liabilities associated with this property remain separately classified as held for sale in the accompanying consolidated balance sheet as of September 30, 2024. No properties qualified for held-for-sale accounting treatment as of December 31, 2023. As of June 30, 2024, in connection with the preparation and review of the second quarter 2024 financial statements and in conjunction with classifying City Center as held for sale, we evaluated City Center for impairment and recorded a $66.2 million impairment charge due to changes in the facts and circumstances underlying the Company’s expected future hold period of the property. A shortening of the expected future hold period is considered an impairment indicator; therefore, we assessed the recoverability of City Center by comparing the carrying value of long-lived assets of $135.1 million as of June 30, 2024 to its estimated fair value of $69.6 million, which was determined using the income approach, less estimated selling costs of $0.7 million. The income approach involves discounting the estimated income stream and reversion (presumed sale) value of a property over an estimated hold period to a present value at a risk-adjusted rate. We used capitalization rates as a significant assumption in the valuation model, which are considered to be Level 3 inputs within the fair value hierarchy. We applied capitalization rates ranging from 6.0% to 15.0% to property income streams based upon the risk profile of the respective tenants and market rent of the leasable space. Based on this analysis, we recorded a $66.2 million non-cash impairment charge on City Center during the three months ended June 30, 2024. The following table presents the assets and liabilities associated with City Center, the investment property that remains classified as held for sale as of September 30, 2024 (in thousands): September 30, 2024 Assets Net investment properties $ 68,567  Tenant and other receivables 2,358  Restricted cash and escrow deposits 225  Deferred costs, net 2,638  Prepaid and other assets 869  Assets associated with investment property held for sale $ 74,657  Liabilities Accounts payable and accrued expenses $ 461  Deferred revenue and other liabilities 3,296  Liabilities associated with investment property held for sale $ 3,757  During the three months ended September 30, 2023, in connection with the preparation and review of the third quarter 2023 financial statements, the Company recorded a $0.5 million impairment charge in connection with the sale of Eastside, a 43,640 square foot multi-tenant retail property in the Dallas/Ft. Worth MSA, as a result of a change in the expected hold period. The Company recorded the asset at the lower of cost or fair value less estimated costs to sell, which was approximately $14.1 million. The estimated fair value of Eastside was based upon the expected sales price from an executed sales contract and determined to be a Level 3 input within the fair value hierarchy. Eastside was sold on October 24, 2023 for a gross sales price of $14.4 million. There were no discontinued operations for the nine months ended September 30, 2024 and 2023 as none of the dispositions or planned dispositions represented a strategic shift that has had, or will have, a material effect on our operations or financial results.

v3.24.3

DEFERRED COSTS AND INTANGIBLES, NET	9 Months Ended
	Sep. 30, 2024
Deferred Costs [Abstract]
DEFERRED COSTS AND INTANGIBLES, NET	DEFERRED COSTS AND INTANGIBLES, NET Deferred costs consist primarily of acquired lease intangible assets, broker fees and capitalized internal commissions incurred in connection with lease originations. Deferred leasing costs, lease intangibles and similar costs are amortized on a straight-line basis over the terms of the related leases. As of September 30, 2024 and December 31, 2023, deferred costs consisted of the following (in thousands): September 30, 2024 December 31, 2023 Acquired lease intangible assets $ 375,055  $ 433,771  Deferred leasing costs and other 85,713  74,662    460,768  508,433  Less: accumulated amortization (205,967) (204,262) $ 254,801  $ 304,171  Less: deferred costs associated with investment property held for sale (2,638) —  Deferred costs, net $ 252,163  $ 304,171  The amortization of deferred leasing costs, lease intangibles and other is included within “Depreciation and amortization” in the accompanying consolidated statements of operations and comprehensive income. The amortization of above-market lease intangibles is included as a reduction to “Rental income” in the accompanying consolidated statements of operations and comprehensive income. The amounts of such amortization included in the accompanying consolidated statements of operations and comprehensive income are as follows (in thousands):   Nine Months Ended September 30, 2024 2023 Amortization of deferred leasing costs, lease intangibles and other $ 59,549  $ 83,768  Amortization of above-market lease intangibles $ 7,309  $ 9,305

v3.24.3

DEFERRED REVENUE, INTANGIBLES, NET AND OTHER LIABILITIES	9 Months Ended
	Sep. 30, 2024
Other Liabilities Disclosure [Abstract]
DEFERRED REVENUE, INTANGIBLES, NET AND OTHER LIABILITIES	DEFERRED REVENUE, INTANGIBLES, NET AND OTHER LIABILITIES Deferred revenue and other liabilities consist of (i) the unamortized fair value of below-market lease liabilities recorded in connection with purchase accounting, (ii) retainage payables for development and redevelopment projects, (iii) tenant rent payments received in advance of the month in which they are due, and (iv) lease liabilities recorded upon adoption of ASU 2016-02, Leases (Topic 842). The amortization of below-market lease liabilities is recognized as revenue over the remaining life of the leases (including option periods for leases with below-market renewal options) through 2085. Tenant rent payments received in advance are recognized as revenue in the period to which they apply, which is typically the month following their receipt. As of September 30, 2024 and December 31, 2023, deferred revenue, intangibles, net and other liabilities consisted of the following (in thousands): September 30, 2024 December 31, 2023 Unamortized in-place lease liabilities $ 147,363  $ 159,449  Retainages payable and other 7,873  9,229  Tenant rents received in advance 29,349  35,339  Lease liabilities 67,563  68,925  $ 252,148  $ 272,942  Less: deferred revenue associated with investment property held for sale (3,296) —  Deferred revenue and other liabilities $ 248,852  $ 272,942  The amortization of below-market lease intangibles is included as a component of “Rental income” in the accompanying consolidated statements of operations and comprehensive income and totaled $14.2 million and $18.5 million for the nine months ended September 30, 2024 and 2023, respectively.

v3.24.3

MORTGAGE AND OTHER INDEBTEDNESS	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
MORTGAGE AND OTHER INDEBTEDNESS	MORTGAGE AND OTHER INDEBTEDNESS The following table summarizes the Company’s indebtedness as of September 30, 2024 and December 31, 2023 (in thousands): September 30, 2024 December 31, 2023 Mortgages payable $ 149,477  $ 153,306  Senior unsecured notes 2,380,000  1,829,635  Unsecured term loans 700,000  820,000  Unsecured revolving line of credit —  —  3,229,477  2,802,941  Unamortized discounts and premiums, net 24,013  35,765  Unamortized debt issuance costs, net (13,562) (9,504) Total mortgage and other indebtedness, net $ 3,239,928  $ 2,829,202  Consolidated indebtedness, including weighted average interest rates and weighted average maturities as of September 30, 2024, considering the impact of interest rate swaps, is summarized below (dollars in thousands): Amount Outstanding Ratio Weighted Average Interest Rate Weighted Average Years to Maturity Fixed rate debt(1) $ 3,059,277  95  % 4.18  % 4.4 Variable rate debt(2) 170,200  5  % 7.94  % 1.9 Debt discounts, premiums and issuance costs, net 10,451  N/A N/A N/A Mortgage and other indebtedness, net $ 3,239,928  100  % 4.38  % 4.3 (1)Fixed rate debt includes the portion of variable rate debt that has been hedged by interest rate swaps. As of September 30, 2024, $700.0 million in variable rate debt is hedged to a fixed rate for a weighted average of 1.1 years. (2)Variable rate debt includes the portion of fixed rate debt that has been hedged by interest rate swaps. As of September 30, 2024, $155.0 million in fixed rate debt is hedged to a floating rate for a weighted average of 0.9 years. Mortgages Payable  The following table summarizes the Company’s mortgages payable (dollars in thousands): September 30, 2024 December 31, 2023 Balance Weighted Average Interest Rate Weighted Average Years to Maturity Balance Weighted Average Interest Rate Weighted Average Years to Maturity Fixed rate mortgages payable(1) $ 134,277  5.10  % 7.4 $ 136,306  5.09  % 8.1 Variable rate mortgage payable(2) 15,200  7.02  % 1.8 17,000  7.59  % 2.6 Total mortgages payable $ 149,477  $ 153,306  (1)The fixed rate mortgages had interest rates ranging from 3.75% to 5.73% as of September 30, 2024 and December 31, 2023. (2)The interest rate on the variable rate mortgage is based on Bloomberg Short Term Bank Yield Index (“BSBY”) plus 215 basis points. The one-month BSBY rate was 4.87% and 5.44% as of September 30, 2024 and December 31, 2023, respectively. Subsequent to September 30, 2024, the Secured Overnight Financing Rate (“SOFR”) replaced BSBY as the index for the variable rate mortgage. Mortgages payable, which are secured by certain real estate and, in some cases, by guarantees from the Operating Partnership, are generally due in monthly installments of principal and interest and mature over various terms through 2033. During the nine months ended September 30, 2024, we made scheduled principal payments of $3.8 million related to amortizing loans. Unsecured Notes The following table summarizes the Company’s senior unsecured notes and exchangeable senior notes (dollars in thousands): September 30, 2024 December 31, 2023 Maturity Date Balance Interest Rate Balance Interest Rate Senior notes – 4.58% due 2024 June 30, 2024 $ —  —  % $ 149,635  4.58  % Senior notes – 4.00% due 2025 March 15, 2025 350,000  4.00  % 350,000  4.00  % Senior notes – SOFR + 3.65% due 2025(1) September 10, 2025 80,000  7.98  % 80,000  9.27  % Senior notes – 4.08% due 2026 September 30, 2026 100,000  4.08  % 100,000  4.08  % Senior notes – 4.00% due 2026 October 1, 2026 300,000  4.00  % 300,000  4.00  % Senior exchangeable notes – 0.75% due 2027 April 1, 2027 175,000  0.75  % 175,000  0.75  % Senior notes – SOFR + 3.75% due 2027(2) September 10, 2027 75,000  8.08  % 75,000  9.37  % Senior notes – 4.24% due 2028 December 28, 2028 100,000  4.24  % 100,000  4.24  % Senior notes – 4.82% due 2029 June 28, 2029 100,000  4.82  % 100,000  4.82  % Senior notes – 4.75% due 2030 September 15, 2030 400,000  4.75  % 400,000  4.75  % Senior notes – 4.95% due 2031 December 15, 2031 350,000  4.95  % —  —  % Senior notes – 5.50% due 2034(3) March 1, 2034 350,000  4.60  % —  —  % Total senior unsecured notes $ 2,380,000  $ 1,829,635  (1)$80,000 of 4.47% senior unsecured notes due 2025 has been swapped to a variable rate of three-month SOFR plus 3.65% through September 10, 2025. (2)$75,000 of 4.57% senior unsecured notes due 2027 has been swapped to a variable rate of three-month SOFR plus 3.75% through September 10, 2025. (3)The coupon rate of the Notes Due 2034 (defined below) is 5.50%; however, as a result of hedging activities, the Company’s interest rate is 4.60%. In January 2024, the Company completed a public offering of $350.0 million in aggregate principal amount of 5.50% senior unsecured notes due 2034 (the “Notes Due 2034”). The Notes Due 2034 were priced at 98.670% of the principal amount to yield 5.673% to maturity and will mature on March 1, 2034, unless earlier redeemed. The proceeds were used to repay the $149.6 million principal balance of the 4.58% senior unsecured notes that matured on June 30, 2024 and the $120.0 million unsecured term loan that matured on July 17, 2024 (the “$120M Term Loan”) and for general corporate purposes. In August 2024, the Company completed a public offering of $350.0 million in aggregate principal amount of 4.95% senior unsecured notes due 2031 (the “Notes Due 2031”). The Notes Due 2031 were priced at 99.328% of the principal amount to yield 5.062% to maturity and will mature on December 15, 2031, unless earlier redeemed. The Company expects the proceeds will be used to repay the $350.0 million principal balance of the 4.00% senior unsecured notes due 2025 (the “Notes Due 2025”) and for general corporate purposes. Exchangeable Senior Notes In March 2021, the Operating Partnership issued $175.0 million aggregate principal amount of 0.75% exchangeable senior notes maturing in April 2027 (the “Exchangeable Notes”). The Exchangeable Notes are governed by an indenture between the Operating Partnership, the Company and U.S. Bank National Association, as trustee. The net proceeds from the offering of the Exchangeable Notes were approximately $169.7 million after deducting the underwriting fees and other expenses paid by the Company. The Exchangeable Notes bear interest at a rate of 0.75% per annum, payable semi-annually in arrears, and will mature on April 1, 2027. During the nine months ended September 30, 2024 and 2023, we recognized approximately $1.0 million of interest expense related to the Exchangeable Notes. Prior to January 1, 2027, the Exchangeable Notes will be exchangeable into cash up to the principal amount of the Exchangeable Notes exchanged and, if applicable, cash or common shares or a combination thereof only upon certain circumstances and during certain periods. On or after January 1, 2027, the Exchangeable Notes will be exchangeable into cash up to the principal amount of the Exchangeable Notes exchanged and, if applicable, cash or common shares or a combination thereof at the option of the holders at any time prior to the close of business on the second scheduled trading day preceding the maturity date. The initial exchange rate is 39.6628 common shares per $1,000 principal amount of Exchangeable Notes, which is equivalent to an initial exchange price of approximately $25.21 per common share and an exchange premium of approximately 25% based upon the closing price of $20.17 per common share on March 17, 2021. The exchange rate is subject to adjustment upon the occurrence of certain events but will not be adjusted for any accrued and unpaid interest. As of September 30, 2024, the exchange rate of the Exchangeable Notes is 40.6713 common shares per $1,000 principal amount of Exchangeable Notes due to adjustments related to dividends paid. The Operating Partnership may redeem the Exchangeable Notes at its option, in whole or in part, on any business day on or after April 5, 2025, if the last reported sale price of the common shares has been at least 130% of the exchange price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period ending on, and including, the trading day immediately preceding the date on which the Operating Partnership provides notice of redemption at a redemption price equal to 100% of the principal amount of the Exchangeable Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. In connection with the Exchangeable Notes, the Operating Partnership entered into privately negotiated capped call transactions (the “Capped Call Transactions”) with certain of the initial purchasers of the Exchangeable Notes or their respective affiliates. The Capped Call Transactions initially cover, subject to anti-dilution adjustments substantially similar to those applicable to the Exchangeable Notes, the number of common shares underlying the Exchangeable Notes. The Capped Call Transactions are generally expected to reduce the potential dilution to holders of common shares upon exchange of the Exchangeable Notes. The cap price of the Capped Call Transactions was initially approximately $30.26, which represented a premium of approximately 50% over the last reported sale price of our common shares on March 17, 2021 and is subject to anti-dilution adjustments under the terms of the Capped Call Transactions. We incurred $9.8 million of costs related to the Capped Call Transactions, which are included within “Additional paid-in capital” in the accompanying consolidated balance sheets. Unsecured Term Loans and Revolving Line of Credit The following table summarizes the Company’s term loans and revolving line of credit (dollars in thousands): September 30, 2024 December 31, 2023 Maturity Date Balance Interest Rate Balance Interest Rate Unsecured term loan due 2024 – fixed rate(1) July 17, 2024 $ —  —  % $ 120,000  2.68  % Unsecured term loan due 2025 – fixed rate(2) October 24, 2025 250,000  5.09  % 250,000  5.09  % Unsecured term loan due 2026 – fixed rate(3) July 17, 2026 150,000  2.73  % 150,000  2.73  % Unsecured term loan due 2029 – fixed rate(4) July 29, 2029 300,000  3.82  % 300,000  3.82  % Total unsecured term loans $ 700,000  $ 820,000  Unsecured credit facility revolving line of credit – variable rate(5) January 8, 2026 $ —  6.11  % $ —  6.58  % (1)As of December 31, 2023, $120,000 of SOFR-based variable rate debt had been swapped to a fixed rate of 1.58% plus a credit spread based on a ratings grid ranging from 0.80% to 1.65% through July 17, 2024. The applicable credit spread was 1.10% as of December 31, 2023. (2)$250,000 of SOFR-based variable rate debt has been swapped to a fixed rate of 5.09% through October 24, 2025. The maturity date of the term loan may be extended for up to three additional periods of one year each at the Operating Partnership’s option, subject to certain conditions. (3)$150,000 of SOFR-based variable rate debt has been swapped to a fixed rate of 1.68% plus a credit spread based on a ratings grid ranging from 0.75% to 1.60% through July 17, 2026. The applicable credit spread was 1.05% as of September 30, 2024 and December 31, 2023. (4)$300,000 of SOFR-based variable rate debt has been swapped to a fixed rate of 2.47% plus a credit spread based on a ratings grid ranging from 1.15% to 2.20% through August 1, 2025. The applicable credit spread was 1.35% as of September 30, 2024 and December 31, 2023. (5)The revolving line of credit has two six-month extension options that the Company can exercise, at its election, subject to (i) customary representations and warranties, including, but not limited to, the absence of an event of default as defined in the unsecured credit agreement and (ii) payment of an extension fee equal to 0.075% of the revolving line of credit capacity. Unsecured Revolving Credit Facility In July 2022, the Operating Partnership, as borrower, and the Company entered into the Second Amendment (the “Second Amendment”) to the Sixth Amended and Restated Credit Agreement, dated as of July 8, 2021 (as amended, the “Credit Agreement”) with a syndicate of financial institutions to provide for an unsecured revolving credit facility aggregating $1.1 billion (the “Revolving Facility”) and a seven-year $300.0 million unsecured term loan (the “$300M Term Loan”). Under the Second Amendment, the Operating Partnership has the option, subject to certain customary conditions, to increase the Revolving Facility and/or incur additional term loans in an aggregate amount for all such increases and additional loans of up to $600.0 million, for a total facility amount of up to $2.0 billion. The Revolving Facility has a scheduled maturity date of January 8, 2026, which maturity date may be extended for up to two additional periods of six months at the Operating Partnership’s option, subject to certain conditions. Borrowings under the Revolving Facility bear interest at a rate per annum equal to SOFR plus a margin based on the Operating Partnership’s leverage ratio or credit rating, respectively, plus a facility fee based on the Operating Partnership’s leverage ratio or credit rating, respectively. The SOFR rate is also subject to an additional 0.10% spread adjustment as specified in the Second Amendment. The Revolving Facility is currently priced on the leverage-based pricing grid. In accordance with the Credit Agreement, the credit spread set forth in the leverage grid resets quarterly based on the Company’s leverage, as calculated at the previous quarter end. The Company may irrevocably elect to convert to the ratings-based pricing grid at any time. As of September 30, 2024, making such an election would have resulted in a lower interest rate; however, the Company had not made the election to convert to the ratings-based pricing grid. The Credit Agreement includes a sustainability metric based on targeted greenhouse gas emission reductions, which results in a reduction of the otherwise applicable interest rate margin by one basis point upon achievement of targets set forth therein. The greenhouse gas emission reduction targets have not been achieved as of September 30, 2024. The following table summarizes the key terms of the Revolving Facility as of September 30, 2024 (dollars in thousands): Leverage-Based Pricing Investment Grade Pricing Credit Agreement Maturity Date Extension Option Extension Fee Credit Spread Facility Fee Credit Spread Facility Fee SOFR Adjustment $1,100,000 unsecured revolving line of credit 1/8/2026 2 six-month 0.075% 1.05%–1.50% 0.15%–0.30% 0.725%–1.40% 0.125%–0.30% 0.10% The Operating Partnership’s ability to borrow under the Credit Agreement is subject to ongoing compliance by the Operating Partnership and its subsidiaries with various restrictive covenants, including with respect to liens, transactions with affiliates, dividends, mergers and asset sales. In addition, the Credit Agreement requires that the Operating Partnership satisfy certain financial covenants, including (i) a maximum leverage ratio; (ii) a minimum fixed charge coverage ratio; (iii) a maximum secured indebtedness ratio; (iv) a maximum unsecured leverage ratio; and (v) a minimum unencumbered interest coverage ratio. As of September 30, 2024, we were in compliance with all such covenants. Subsequent to September 30, 2024, the Operating Partnership and the Company entered into the Third Amendment (the “Third Amendment”) to the Sixth Amended and Restated Credit Agreement, dated as of July 8, 2021 (as amended, the “Amended Credit Agreement”) that extended the maturity date of the Revolving Facility to October 3, 2028 with the option to extend such maturity date for either one one-year period or up to two six-month periods at the Company’s election, subject to the payment of an extension fee and certain other customary conditions. The credit spreads and facility fees for both the leverage-based and investment grade pricing grids remain the same; however, the Company has the ability to obtain more favorable pricing in certain circumstances when its total leverage ratio is (x) less than or equal to 35.0% or (y) greater than 35.0% but less than or equal to 37.5% with respect to not more than one fiscal quarter following a period in which the condition described in clause (x) was satisfied (the “Leverage Toggle”). In addition, the Third Amendment includes an adjustment to the sustainability-linked pricing provisions that allows the otherwise applicable interest rate margin to be reduced by up to two basis points if certain greenhouse gas emission reduction targets are achieved. Unsecured Term Loans As of September 30, 2024, the Operating Partnership has the following unsecured term loans: (i) a $250.0 million unsecured term loan due October 2025 (the “$250M Term Loan”), (ii) a $150.0 million unsecured term loan due July 2026 (the “$150M Term Loan”), and (iii) the $300M Term Loan that matures in July 2029, each of which bears interest at a rate of SOFR plus a credit spread. The $150M Term Loan and the $300M Term Loan are each priced on a ratings-based pricing grid while the $250M Term Loan is priced on a leverage-based pricing grid. The agreements related to the $150M Term Loan and $300M Term Loan include a sustainability metric based on targeted greenhouse gas emission reductions, which results in a reduction of the otherwise applicable interest rate margin by one basis point upon achievement of targets set forth in each agreement. The greenhouse gas emission reduction targets have not been achieved as of September 30, 2024. The following table summarizes the key terms of the unsecured term loans as of September 30, 2024 (dollars in thousands): Unsecured Term Loans Maturity Date Leverage-Based Pricing Credit Spread Investment Grade Pricing Credit Spread SOFR Adjustment $250,000 unsecured term loan due 2025 10/24/2025(1) 2.00% – 2.55% 2.00% – 2.50% 0.10% $150,000 unsecured term loan due 2026 7/17/2026 1.20% – 1.70% 0.75% – 1.60% 0.10% $300,000 unsecured term loan due 2029 7/29/2029 N/A 1.15% – 2.20% 0.10% (1)The maturity date may be extended for up to three additional periods of one year each at the Operating Partnership’s option, subject to certain conditions. The Operating Partnership has the option to increase the $150M Term Loan to $250.0 million upon the Operating Partnership’s request, 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 Operating Partnership is permitted to prepay the $150M Term Loan in whole or in part, at any time, without being subject to a prepayment fee. The Operating Partnership has the option to increase the $250M Term Loan to $300.0 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 Operating Partnership is permitted to prepay the $250M Term Loan in whole or in part, without premium or penalty. The Operating Partnership is permitted to prepay the $300M Term Loan in whole or in part, at any time, without premium or penalty. The unsecured term loan agreements contain representations, financial and other affirmative and negative covenants and events of default that are substantially similar to those contained in the Credit Agreement. The unsecured term loan agreements all rank pari passu with the Operating Partnership’s Revolving Facility and other unsecured indebtedness of the Operating Partnership. The Third Amendment also applied the Leverage Toggle and adjustment to the sustainability-linked pricing provisions to the $300M Term Loan. In addition, subsequent to September 30, 2024, the Operating Partnership entered into the Second Amendment (the “Second Amendment”) to the term loan agreement related to the $250M Term Loan that extended the maturity date of the $250M Term Loan to October 24, 2027 with the option to extend such maturity date by one one-year period at the Company’s election, subject to the payment of an extension fee and certain other customary conditions. In conjunction with the Second Amendment, the $250M Term Loan will be priced on a ratings-based pricing grid with the interest rate equal to (x) a margin ranging from 0.75% to 1.60% or (y) a base rate plus a margin ranging from 0.00% to 0.60% and includes the same Leverage Toggle for determining pricing and sustainability-linked pricing provisions as described above for the Third Amendment to the Amended Credit Agreement. Debt Issuance Costs Debt issuance costs are amortized over the terms of the respective loan agreements. The following amounts of amortization of debt issuance costs are included as a component of “Interest expense” in the accompanying consolidated statements of operations and comprehensive income (in thousands): Nine Months Ended September 30, 2024 2023 Amortization of debt issuance costs $ 2,978  $ 2,685  Debt Discounts and Premiums Debt discounts and premiums, including the related value of interest rate swaps that were assumed in the October 2021 merger with RPAI, are amortized over the terms of the respective loan agreements. The following amounts of amortization are included as a component of “Interest expense” in the accompanying consolidated statements of operations and comprehensive income (in thousands): Nine Months Ended September 30, 2024 2023 Amortization of debt discounts, premiums and hedge instruments $ 10,581  $ 14,992  In addition, the estimated amounts of the reduction to interest expense as of September 30, 2024 for each of the next five years and thereafter related to the amortization of debt discounts, premiums and assumed hedge instruments, assuming these instruments are held to maturity, are as follows (in thousands): October 2024 through December 2024 $ 3,011  2025 7,486  2026 5,832  2027 4,914  2028 4,904  Thereafter 4,462  Total unamortized debt discounts, premiums and hedge instruments $ 30,609  The following table reconciles total unamortized debt discounts, premiums and hedge instruments as of September 30, 2024 to the balance of unamortized discounts and premiums, net (in thousands): Unamortized discounts and premiums on mortgages payable, senior unsecured notes and unsecured term loans $ 28,902  Unamortized hedge instruments 1,707  Total unamortized debt discounts, premiums and hedge instruments 30,609  Unamortized hedge instruments (included in accumulated other comprehensive income) (1,707) Fair value of variable interest rate swaps (4,889) Unamortized discounts and premiums, net $ 24,013  Fair Value of Fixed and Variable Rate Debt As of September 30, 2024, the estimated fair value of fixed rate debt was $2.5 billion compared to the book value of $2.5 billion. The fair value was estimated using Level 2 and 3 inputs with cash flows discounted at current borrowing rates for similar instruments, which ranged from 5.18% to 6.26%. As of September 30, 2024, the estimated fair value of variable rate debt was $717.0 million compared to the book value of $715.2 million. The fair value was estimated using Level 2 and 3 inputs with cash flows discounted at current borrowing rates for similar instruments, which ranged from 6.00% to 6.05%.

v3.24.3

DERIVATIVE INSTRUMENTS, HEDGING ACTIVITIES AND OTHER COMPREHENSIVE INCOME	9 Months Ended
	Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS, HEDGING ACTIVITIES AND OTHER COMPREHENSIVE INCOME	DERIVATIVE INSTRUMENTS, HEDGING ACTIVITIES AND OTHER COMPREHENSIVE INCOME In order to manage potential future variable interest rate risk, we enter into interest rate derivative agreements from time to time. We do not use interest rate derivative agreements for trading or speculative purposes. The agreements with each of our derivative counterparties provide that in the event of default on any of our indebtedness, we could also be declared in default on our derivative obligations. The following table summarizes the terms and fair values of the Company’s derivative financial instruments that were designated and qualified as part of a hedging relationship as of September 30, 2024 and December 31, 2023 (dollars in thousands): Fair Value Assets (Liabilities)(1) Type of Hedge Number of Instruments Aggregate Notional Reference Rate Interest Rate Effective Date Maturity Date September 30, 2024 December 31, 2023 Cash Flow Four $ 250,000  SOFR 2.99  % 12/1/2022 10/24/2025 $ 2,038  $ 4,952  Cash Flow Two 100,000  SOFR 2.66  % 8/1/2022 8/1/2025 1,026  2,415  Cash Flow Two 200,000  SOFR 2.37  % 11/22/2023 8/1/2025 2,528  5,716  Cash Flow Three —  SOFR 1.58  % 8/15/2022 7/17/2024 —  2,236  Cash Flow Three 150,000  SOFR 1.68  % 8/15/2022 7/17/2026 4,621  7,744  $ 700,000  $ 10,213  $ 23,063  Fair Value(2) Two $ 155,000  SOFR SOFR + 3.70% 4/23/2021 9/10/2025 $ (4,889) $ (9,408) Forward-Starting Cash Flow(3) Three $ 150,000  SOFR 3.44  % 6/28/2024 6/28/2034 $ —  $ (700) (1)Derivatives in an asset position are included within “Prepaid and other assets” and derivatives in a liability position are included within “Accounts payable and accrued expenses” in the accompanying consolidated balance sheets. (2)The derivative agreements swap a blended fixed rate of 4.52% for a blended floating rate of three-month SOFR plus 3.70%. (3)The forward-starting interest rate swaps were terminated in conjunction with the issuance of the Notes Due 2034. In August 2024, we entered into two intraday interest rate lock agreements with notional amounts totaling $350.0 million that fixed the interest rate on a portion of the Notes Due 2031, which were issued in August 2024, at 3.75%. We paid $0.1 million upon termination, which is included as a component of “Accumulated other comprehensive income” in the accompanying consolidated balance sheets and is being reclassified as an increase to interest expense over the term of the debt. In December 2023, we entered into three forward-starting interest rate swap agreements with notional amounts totaling $150.0 million that swap a floating rate of compound SOFR for a fixed rate of 3.44% with an effective date of June 28, 2024 and a maturity date of June 28, 2034. These interest rate swaps fixed the interest rate on a portion of the Notes Due 2034, which were issued in January 2024, and were subsequently terminated upon issuance of the Notes Due 2034. We received $0.7 million upon termination, which is included as a component of “Accumulated other comprehensive income” in the accompanying consolidated balance sheets and is being reclassified as a reduction to interest expense over the term of the debt. In October 2022, we terminated two forward-starting interest rate swaps with notional amounts totaling $150.0 million and a maturity date of June 1, 2032 and received $30.9 million upon termination. This settlement is included as a component of “Accumulated other comprehensive income” in the accompanying consolidated balance sheets and is being reclassified to earnings over time as the hedged items are recognized in earnings. During the year ended December 31, 2023, we accelerated the reclassification of $3.1 million in accumulated other comprehensive income as a reduction to interest expense as a result of a portion of the hedged forecasted transaction becoming probable not to occur. In January 2024, we completed a public offering of the Notes Due 2034. The remaining balance in accumulated other comprehensive income is being reclassified as a reduction to interest expense over the term of the debt. These interest rate derivative agreements are the only assets or liabilities that we record at fair value on a recurring basis. The valuation of these assets and liabilities is determined using widely accepted techniques including discounted cash flow analysis. These techniques consider the contractual terms of the derivatives (including the period to maturity) and use observable market-based inputs such as interest rate curves and implied volatilities. We also incorporate credit valuation adjustments into the fair value measurements to reflect nonperformance risk on both our part and that of the respective counterparties. We have determined that the majority of the inputs used to value our derivatives fall within Level 2 of the fair value hierarchy, although the credit valuation adjustments associated with our derivatives use Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by us and our counterparties. As of September 30, 2024 and December 31, 2023, we assessed the significance of the impact of the credit valuation adjustments on the overall valuation of our derivative positions and determined that the credit valuation adjustments were not significant to the overall valuation of our derivatives. As a result, we have determined that our derivative valuations were classified within Level 2 of the fair value hierarchy. Amounts reported in accumulated other comprehensive income related to derivatives will be reclassified to earnings over time as the hedged items are recognized in earnings. Approximately $4.1 million and $13.9 million was reclassified as a reduction to interest expense during the three and nine months ended September 30, 2024, respectively. Approximately $5.5 million and $13.2 million was reclassified as a reduction to interest expense during the three and nine months ended September 30, 2023, respectively. As interest payments on our derivatives are made over the next 12 months, we estimate the decrease to interest expense to be approximately $12.8 million, assuming the current SOFR curve. Unrealized gains and losses on our interest rate derivative agreements are the only components of the change in accumulated other comprehensive income.

v3.24.3

SHAREHOLDERS’ EQUITY	9 Months Ended
	Sep. 30, 2024
Stockholders' Equity Note [Abstract]
SHAREHOLDERS’ EQUITY	SHAREHOLDERS’ EQUITY Distributions Our Board of Trustees declared a cash distribution of $0.26 per common share and Common Unit for the third quarter of 2024. This distribution was paid on October 16, 2024 to common shareholders and common unitholders of record as of October 9, 2024. For the nine months ended September 30, 2024, we declared cash distributions totaling $0.76 per common share and Common Unit. For the three and nine months ended September 30, 2023, we declared cash distributions of $0.24 and $0.72 per common share and Common Unit, respectively. Share Repurchase Program The Company has an existing share repurchase program under which it may repurchase, from time to time, up to a maximum of $300.0 million of its common shares (the “Share Repurchase Program”). The Company intends to fund any future repurchases under the Share Repurchase Program with cash on hand or availability under the Revolving Facility, subject to any applicable restrictions. The timing of share repurchases and the number of common shares to be repurchased under the Share Repurchase Program will depend upon prevailing market conditions, regulatory requirements and other factors. In February 2024, the Company extended the Share Repurchase Program for an additional year to February 28, 2025, if not terminated or extended prior to that date. As of September 30, 2024, the Company has not repurchased any shares under the Share Repurchase Program.

v3.24.3

EARNINGS PER SHARE OR UNIT	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
EARNINGS PER SHARE OR UNIT	EARNINGS PER SHARE OR UNIT Basic earnings per share or unit is calculated based on the weighted average number of common shares or units outstanding during the period. Diluted earnings per share or unit is calculated based on the weighted average number of common shares or units outstanding during the period combined with the incremental average common shares or units that would have been outstanding assuming the conversion of all potentially dilutive common shares or units into common shares or units as of the earliest date possible. Potentially dilutive securities include (i) outstanding options to acquire common shares; (ii) Limited Partner Units, which may be exchanged for either cash or common shares at the Parent Company’s option and under certain circumstances; (iii) AO LTIP Units; (iv) deferred common share units, which may be credited to the personal accounts of non-employee trustees in lieu of compensation paid in cash or the issuance of common shares to such trustees, and (v) common shares issuable upon the exchange of the Company’s Exchangeable Notes. The Company calculates the potential dilutive effect of the Exchangeable Notes under the if-converted method, which considers only the amounts settled in excess of the principal in diluted earnings per share as the principal must be paid in cash. Limited Partner Units have been omitted from the Parent Company’s denominator for the purpose of computing diluted earnings per share since the effect of including those amounts in the denominator would have no dilutive impact. Weighted average Limited Partner Units outstanding were 3.9 million and 3.7 million for the three and nine months ended September 30, 2024, and 3.3 million and 3.1 million for the three and nine months ended September 30, 2023, respectively. The following summarizes the calculation of basic and diluted earnings per share for the Parent Company. We have omitted the calculation of basic and diluted earnings per unit since the dilutive securities for the Operating Partnership are the same as those for the Parent Company (dollars in thousands, except per share data): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Numerator: Net income (loss) attributable to common shareholders – basic and diluted $ 16,729  $ 2,070  $ (17,753) $ 39,519  Denominator: Weighted average common shares outstanding – basic 219,665,836  219,381,248  219,596,590  219,323,570  Effect of dilutive securities: AO LTIP Units 244,447  529,790  —  430,999  Deferred common share units 68,956  65,042  —  54,974  Exchangeable Notes 117,454  —  —  —  Weighted average common shares outstanding – diluted 220,096,693  219,976,080  219,596,590  219,809,543  Net income (loss) per common share – basic $ 0.08  $ 0.01  $ (0.08) $ 0.18  Net income (loss) per common share – diluted $ 0.08  $ 0.01  $ (0.08) $ 0.18  Due to the net loss allocable to common shareholders and common unitholders for the nine months ended September 30, 2024, no securities had a dilutive impact for that period.

v3.24.3

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Other Commitments and Contingencies We are obligated under various completion guarantees with certain lenders and lease agreements with tenants to complete all or portions of a development project and tenant-specific space currently under construction. We believe we currently have sufficient financing in place to fund these projects and expect to do so primarily through free cash flow or borrowings on the Revolving Facility. In 2017, we provided a repayment guaranty on a $33.8 million construction loan associated with the development of the Embassy Suites at the University of Notre Dame, consistent with our 35% ownership interest. Our portion of the repayment guaranty was limited to $5.9 million, and the guaranty’s term was through July 1, 2024, the maturity date of the construction loan. In July 2024, the joint venture repaid the construction loan and we contributed $10.2 million representing our 35% share of the debt repaid. In 2021, we provided repayment and completion guaranties on loans totaling $66.2 million associated with the development of The Corner mixed-use project in the Indianapolis MSA. As of September 30, 2024, the outstanding balance of the loans was $69.9 million, of which our share was $35.0 million. Legal Proceedings We are not subject to any material litigation nor, to management’s knowledge, is any material litigation currently threatened against us. We are parties to routine litigation, claims, and administrative proceedings arising in the ordinary course of business. Management believes that such matters will not have a material adverse impact on our consolidated financial condition, results of operations or cash flows taken as a whole.

v3.24.3

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS Subsequent to September 30, 2024, we entered into the third amendment to the sixth amended and restated unsecured credit agreement and amended the terms of the $250M Term Loan. See Note 7 to the consolidated financial statements for further details.

v3.24.3

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023
Pay vs Performance Disclosure
Net income (loss) attributable to common shareholders	$ 16,729	$ (48,638)	$ 14,156	$ 2,070	$ 32,058	$ 5,391

v3.24.3

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

v3.24.3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Consolidation and Investments in Joint Ventures	Consolidation and Investments in Joint Ventures The accompanying financial statements are presented on a consolidated basis and include all accounts of the Parent Company, the Operating Partnership, the taxable REIT subsidiaries (“TRSs”) of the Operating Partnership, subsidiaries of the Operating Partnership that are controlled, and any variable interest entities (“VIEs”) in which the Operating Partnership is the primary beneficiary. As of September 30, 2024, we owned investments in two consolidated joint ventures that were VIEs in which the partners did not have substantive participating rights and we were the primary beneficiary. As of September 30, 2024, these consolidated VIEs had mortgage debt totaling $110.3 million, which was secured by assets of the VIEs totaling $218.1 million. The Operating Partnership guarantees the mortgage debt of these VIEs. The Operating Partnership is considered a VIE as the limited partners do not hold kick-out rights or substantive participating rights. The Parent Company consolidates the Operating Partnership as it is the primary beneficiary. As of September 30, 2024, the Company also owned investments in four unconsolidated joint ventures accounted for under the equity method, which are not considered VIEs. On January 31, 2024, the joint venture that owned Glendale Center Apartments, of which we have an 11.5% ownership interest, sold the 267-unit property to a third party, resulting in a gain on sale of $20.2 million. The Company recognized its share of the gain on sale of unconsolidated property of $2.3 million during the nine months ended September 30, 2024. In addition, the Company received a $1.6 million distribution upon the disposition of the property. The Company maintains an investment in the joint venture, which is in the process of winding up its activities and distributing remaining net assets. Glendale Center Apartments is adjacent to our Glendale Town Center operating retail property in the Indianapolis MSA.
Income Taxes and REIT Compliance	Income Taxes and REIT Compliance Parent Company The Parent Company has been organized and operated, and intends to continue to operate, in a manner that will enable it to maintain its qualification as a REIT for U.S. federal income tax purposes. As a result, it generally will not be subject to U.S. federal income tax on the earnings that it distributes to the extent it distributes its “REIT taxable income” (determined before the deduction for dividends paid and excluding net capital gains) to shareholders of the Parent Company and meets certain other requirements on a recurring basis. To the extent that it satisfies this distribution requirement but distributes less than 100% of its taxable income, it will be subject to U.S. federal income tax on its undistributed REIT taxable income at regular corporate income tax rates. REITs are subject to a number of organizational and operational requirements. If the Parent Company fails to qualify as a REIT in any taxable year, it will be subject to U.S. federal income tax on its taxable income at regular corporate income tax rates for a period of four years following the year in which qualification is lost. Additionally, we may also be subject to certain taxes enacted by the Inflation Reduction Act of 2022 that are applicable to non-REIT corporations, including the nondeductible 1% excise tax on certain stock repurchases. We may also be subject to certain U.S. federal, state and local taxes on our income and property and to U.S. federal income and excise taxes on our undistributed taxable income even if the Parent Company does qualify as a REIT. The Operating Partnership intends to continue to make distributions to the Parent Company in amounts sufficient to assist the Parent Company in adhering to REIT requirements and maintaining its REIT status. We have elected to treat Kite Realty Holdings, LLC and IWR Protective Corporation as TRSs with respect to the REIT, and we may elect to treat other subsidiaries as TRSs in the future. This election enables us to receive income and provide services that would otherwise be impermissible for a REIT. Deferred tax assets and liabilities are established for temporary differences between the financial reporting bases and the tax bases of assets and liabilities at the tax rates expected to be in effect when the temporary differences reverse. Deferred tax assets are reduced by a valuation allowance if it is more likely than not that some portion or all of the deferred tax asset will not be realized. Operating Partnership The allocated share of income and loss, other than the operations of our TRSs, is included in the income tax returns of the Operating Partnership’s partners. Accordingly, the only U.S. federal income taxes included in the accompanying consolidated financial statements are in connection with the TRSs.
Noncontrolling Interests	Noncontrolling Interests We report the non-redeemable noncontrolling interests in subsidiaries as equity, and the amount of consolidated net income attributable to these noncontrolling interests is set forth separately in the accompanying consolidated financial statements. Noncontrolling Interests – Joint Venture Prior to the October 2021 merger with Retail Properties of America, Inc. (“RPAI”), RPAI entered into a joint venture related to the development, ownership and operation of the multifamily rental portion of the expansion project at One Loudoun Downtown – Pads G & H. The Company owns 90% of the joint venture. Under terms defined in the joint venture agreement, after construction completion and stabilization of the development project (as defined in the joint venture agreement), the Company has the ability to call, and the joint venture partner has the ability to put to the Company, subject to certain conditions, the joint venture partner’s interest in the joint venture at fair value. As of September 30, 2024, the conditions for exercising the put and call options have been met but neither the Company nor the joint venture partner has exercised their respective options. The joint venture is considered a VIE primarily because the Company’s joint venture partner does not have substantive kick-out rights or substantive participating rights. The Company is considered the primary beneficiary as it has a controlling financial interest in the joint venture. As such, the Company has consolidated this joint venture and presented the joint venture partner’s interests as noncontrolling interests. Redeemable Noncontrolling Interests – Limited Partners Limited Partner Units are redeemable noncontrolling interests in the Operating Partnership. We classify redeemable noncontrolling interests in the Operating Partnership in the accompanying consolidated balance sheets outside of permanent equity because we may be required to pay cash to holders of Limited Partner Units upon redemption of their interests in the Operating Partnership or deliver registered shares upon their conversion. The carrying amount of the redeemable noncontrolling interests in the Operating Partnership is reflected at the greater of historical book value or redemption value with a corresponding adjustment to additional paid-in capital. As of September 30, 2024 and December 31, 2023, the redemption value of the redeemable noncontrolling interests in the Operating Partnership exceeded the historical book value, and the balances were accordingly adjusted to redemption value. We allocate net operating results of the Operating Partnership after noncontrolling interests in the consolidated properties based on the partners’ respective weighted average ownership interest. We adjust the redeemable noncontrolling interests in the Operating Partnership at the end of each reporting period to reflect their interests in the Operating Partnership or redemption value. This adjustment is reflected in our shareholders’ and Parent Company’s equity. As of September 30, 2024, the Parent Company’s interest and the limited partners’ redeemable noncontrolling ownership interests in the Operating Partnership were 98.2% and 1.8%. As of December 31, 2023, the Parent Company’s interest and the limited partners’ redeemable noncontrolling ownership interests in the Operating Partnership were 98.4% and 1.6%. Concurrent with the Parent Company’s IPO and related formation transactions, certain individuals received Limited Partner Units of the Operating Partnership in exchange for their interests in certain properties. The limited partners have the right to redeem Limited Partner Units for cash or, at the Parent Company’s election, common shares of the Parent Company in an amount equal to the market value of an equivalent number of common shares of the Parent Company at the time of redemption. Such common shares must be registered, which is not fully in the Parent Company’s control. Therefore, the limited partners’ interest is not reflected within permanent equity. The Parent Company also has the right to redeem the Limited Partner Units directly from the limited partner in exchange for either cash in the amount specified above or a number of its common shares equal to the number of Limited Partner Units being redeemed. There were 3,960,037 and 3,512,868 Limited Partner Units outstanding as of September 30, 2024 and December 31, 2023, respectively. The increase in Limited Partner Units outstanding from December 31, 2023 is due to non-cash compensation awards granted to our executive officers in the form of Limited Partner Units and the exercise of previously granted Appreciation Only Long-Term Incentive Plan (“AO LTIP”) Units in exchange for Limited Partner Units.
Fair Value Measurements	Fair Value Measurements We follow the framework established under Financial Accounting Standards Board Accounting Standards Codification (“ASC”) 820, Fair Value Measurements and Disclosures, for measuring fair value of non-financial assets and liabilities that are not required or permitted to be measured at fair value on a recurring basis but only in certain circumstances, such as a business combination or upon determination of an impairment. Assets and liabilities recorded at fair value in the accompanying consolidated balance sheets are categorized based on the inputs to the valuation techniques as follows: •Level 1 fair value inputs are quoted prices in active markets for identical instruments to which we have access. •Level 2 fair value inputs are inputs other than quoted prices included in Level 1 that are observable for similar instruments, either directly or indirectly, and appropriately consider counterparty creditworthiness in the valuation. •Level 3 fair value inputs reflect our best estimate of inputs and assumptions market participants would use in pricing an instrument at the measurement date. The inputs are unobservable in the market and significant to the valuation estimate. In instances where the determination of the fair value measurement is based upon inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. Our assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability.
Effects of Accounting Pronouncements	Effects of Accounting Pronouncements In March 2024, the SEC issued a final rule, The Enhancement and Standardization of Climate-Related Disclosures for Investors. This final rule is effective for the Company for the fiscal year beginning in 2025 and requires companies to annually disclose climate-related information in registration statements and annual reports, including material climate-related risks and impacts on the Company, information about board oversight, risk management activities, and any material climate-related targets or goals. In addition, the final rule requires disclosure of material Scope 1 and/or Scope 2 greenhouse gas emissions, which will be subject to independent third-party assurance, and the financial statement effects of severe weather events and other natural conditions. In April 2024, the SEC announced a stay of these climate disclosure rules pending judicial review. The Company is continuing to evaluate the impact of this final rule until it becomes effective. In November 2023, the Financial Accounting Standards Board issued Accounting Standards Update 2023-07, Segment Reporting (Topic 280) – Improvements to Reportable Segment Disclosures. This new guidance became effective for the Company on January 1, 2024 and provides new disclosure requirements on significant segment expenses that will begin with the Company’s Annual Report on Form 10-K for the fiscal year ending December 31, 2024. Public entities with a single reportable segment such as the Company must apply all of the new disclosure requirements as well as all existing segment disclosure and reconciliation requirements in Topic 280 on an annual and interim basis. The adoption of this pronouncement on January 1, 2024 did not have any effect on the Company’s consolidated financial statements. The amended disclosure guidance will be applied prospectively.

v3.24.3

ORGANIZATION AND BASIS OF PRESENTATION (Tables)	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Real Estate Properties	As of September 30, 2024, the Company’s portfolio consisted of the following: Properties Square Footage Operating retail properties(1) 179  27,720,361  Office properties 1  287,291  Development and redevelopment projects: Carillon medical office building 1  126,000  The Corner – IN(2) 1  24,000  One Loudoun Expansion(3) —  119,000  Hamilton Crossing Centre 1  92,283  Edwards Multiplex – Ontario 1  124,614  (1)Included within operating retail properties are 10 properties that contain an office component. Excludes one operating retail property classified as held for sale as of September 30, 2024. Of the 179 operating retail properties, 176 are consolidated within these financial statements and the remaining three are accounted for under the equity method. (2)This property is held in an unconsolidated joint venture in which the Company has a 50% ownership interest. (3)During the three months ended September 30, 2024, the Company began development activities on the retail and office portions of the expansion project at One Loudoun Downtown (the “One Loudoun Expansion”) in the Washington, D.C. metropolitan statistical area (“MSA”). The Company estimates that it will incur net project costs of approximately $65.0 million to $75.0 million related to the One Loudoun Expansion. The following table summarizes the composition of the Company’s investment properties as of September 30, 2024 and December 31, 2023 (in thousands): Balance as of September 30, 2024 December 31, 2023 Land, buildings and improvements $ 7,543,145  $ 7,684,066  Construction in progress 64,704  55,995  Investment properties, at cost $ 7,607,849  $ 7,740,061

v3.24.3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Schedule of Investment Properties	As of September 30, 2024, the Company’s portfolio consisted of the following: Properties Square Footage Operating retail properties(1) 179  27,720,361  Office properties 1  287,291  Development and redevelopment projects: Carillon medical office building 1  126,000  The Corner – IN(2) 1  24,000  One Loudoun Expansion(3) —  119,000  Hamilton Crossing Centre 1  92,283  Edwards Multiplex – Ontario 1  124,614  (1)Included within operating retail properties are 10 properties that contain an office component. Excludes one operating retail property classified as held for sale as of September 30, 2024. Of the 179 operating retail properties, 176 are consolidated within these financial statements and the remaining three are accounted for under the equity method. (2)This property is held in an unconsolidated joint venture in which the Company has a 50% ownership interest. (3)During the three months ended September 30, 2024, the Company began development activities on the retail and office portions of the expansion project at One Loudoun Downtown (the “One Loudoun Expansion”) in the Washington, D.C. metropolitan statistical area (“MSA”). The Company estimates that it will incur net project costs of approximately $65.0 million to $75.0 million related to the One Loudoun Expansion. The following table summarizes the composition of the Company’s investment properties as of September 30, 2024 and December 31, 2023 (in thousands): Balance as of September 30, 2024 December 31, 2023 Land, buildings and improvements $ 7,543,145  $ 7,684,066  Construction in progress 64,704  55,995  Investment properties, at cost $ 7,607,849  $ 7,740,061
Schedule of Rental Income	Rental income related to the Company’s operating leases is comprised of the following for the three and nine months ended September 30, 2024 and 2023 (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Fixed contractual lease payments – operating leases $ 163,913  $ 159,491  $ 486,126  $ 478,215  Variable lease payments – operating leases 36,939  38,100  117,072  117,730  Bad debt reserve (1,468) (219) (3,601) (2,007) Straight-line rent adjustments 3,595  3,132  9,787  9,900  Straight-line rent reserve for uncollectibility (309) (367) 279  (177) Amortization of in-place lease liabilities, net 2,264  3,853  6,920  9,228  Rental income $ 204,934  $ 203,990  $ 616,583  $ 612,889
Schedule of Noncontrolling Interests	The following table summarizes the non-redeemable noncontrolling interests in consolidated properties for the nine months ended September 30, 2024 and 2023 (in thousands): Nine Months Ended September 30, 2024 2023 Noncontrolling interests balance as of January 1, $ 2,430  $ 5,370  Net income allocable to noncontrolling interests, excluding redeemable noncontrolling interests 204  201  Distributions to noncontrolling interests(1) (760) (3,196) Noncontrolling interests balance as of September 30, $ 1,874  $ 2,375  (1)During the nine months ended September 30, 2023, we received a $3.2 million distribution from excess proceeds related to a third-party financing.
Schedule of Weighted Average Interests of Parent and Limited Partners	For the three and nine months ended September 30, 2024 and 2023, the weighted average interests of the Parent Company and the limited partners in the Operating Partnership were as follows: Three Months Ended September 30, Nine Months Ended September 30,   2024 2023 2024 2023 Parent Company’s weighted average interest in the Operating Partnership 98.3  % 98.5  % 98.3  % 98.6  % Limited partners’ weighted average interests in the Operating Partnership 1.7  % 1.5  % 1.7  % 1.4  %
Schedule of Redeemable Noncontrolling Interests	The redeemable noncontrolling interests in the Operating Partnership for the nine months ended September 30, 2024 and 2023 were as follows (in thousands): Nine Months Ended September 30, 2024 2023 Redeemable noncontrolling interests balance as of January 1, $ 73,287  $ 53,967  Net (loss) income allocable to redeemable noncontrolling interests (265) 499  Distributions declared to redeemable noncontrolling interests (2,838) (2,281) Other, net including adjustments to redemption value 26,842  14,815  Total limited partners’ interests in the Operating Partnership balance as of September 30, $ 97,026  $ 67,000

v3.24.3

ACQUISITIONS (Tables)	9 Months Ended
	Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Schedule of Asset Acquisitions	The Company closed on the following asset acquisition during the nine months ended September 30, 2024 (dollars in thousands): Date Property Name MSA Property Type Square Footage Acquisition Price August 30, 2024 Parkside West Cobb Atlanta Multi-tenant retail 141,627  $ 40,125  The Company closed on the following asset acquisition during the nine months ended September 30, 2023 (dollars in thousands): Date Property Name MSA Property Type Square Footage Acquisition Price September 22, 2023 Prestonwood Place Dallas/Ft. Worth Multi-tenant retail 155,975  $ 81,000

v3.24.3

DISPOSITIONS AND IMPAIRMENT CHARGES (Tables)	9 Months Ended
	Sep. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Property Dispositions	The Company closed on the following disposition during the nine months ended September 30, 2024 (dollars in thousands): Date Property Name MSA Property Type Square Footage Sales Price Gain (Loss) May 31, 2024 Ashland & Roosevelt Chicago Multi-tenant retail 104,176  $ 30,600  $ (1,234) The Company closed on the following dispositions during the nine months ended September 30, 2023 (dollars in thousands): Date Property Name MSA Property Type Square Footage Sales Price Gain (Loss) May 8, 2023 Kingwood Commons Houston Multi-tenant retail 158,172  $ 27,350  $ 4,736  June 8, 2023 Pan Am Plaza & Garage Indianapolis Land & garage —  52,025  23,635  September 11, 2023 Reisterstown Road Plaza Baltimore Multi-tenant retail 376,683  48,250  (5,903) 534,855  $ 127,625  $ 22,468  The following table presents the assets and liabilities associated with City Center, the investment property that remains classified as held for sale as of September 30, 2024 (in thousands): September 30, 2024 Assets Net investment properties $ 68,567  Tenant and other receivables 2,358  Restricted cash and escrow deposits 225  Deferred costs, net 2,638  Prepaid and other assets 869  Assets associated with investment property held for sale $ 74,657  Liabilities Accounts payable and accrued expenses $ 461  Deferred revenue and other liabilities 3,296  Liabilities associated with investment property held for sale $ 3,757

v3.24.3

DEFERRED COSTS AND INTANGIBLES, NET (Tables)	9 Months Ended
	Sep. 30, 2024
Deferred Costs [Abstract]
Schedule of Deferred Costs	As of September 30, 2024 and December 31, 2023, deferred costs consisted of the following (in thousands): September 30, 2024 December 31, 2023 Acquired lease intangible assets $ 375,055  $ 433,771  Deferred leasing costs and other 85,713  74,662    460,768  508,433  Less: accumulated amortization (205,967) (204,262) $ 254,801  $ 304,171  Less: deferred costs associated with investment property held for sale (2,638) —  Deferred costs, net $ 252,163  $ 304,171
Schedule of Amortization of Deferred Costs	The amounts of such amortization included in the accompanying consolidated statements of operations and comprehensive income are as follows (in thousands):   Nine Months Ended September 30, 2024 2023 Amortization of deferred leasing costs, lease intangibles and other $ 59,549  $ 83,768  Amortization of above-market lease intangibles $ 7,309  $ 9,305  The following amounts of amortization of debt issuance costs are included as a component of “Interest expense” in the accompanying consolidated statements of operations and comprehensive income (in thousands): Nine Months Ended September 30, 2024 2023 Amortization of debt issuance costs $ 2,978  $ 2,685

v3.24.3

DEFERRED REVENUE, INTANGIBLES, NET AND OTHER LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2024
Other Liabilities Disclosure [Abstract]
Schedule of Deferred Revenue, Intangibles and Other Liabilities	As of September 30, 2024 and December 31, 2023, deferred revenue, intangibles, net and other liabilities consisted of the following (in thousands): September 30, 2024 December 31, 2023 Unamortized in-place lease liabilities $ 147,363  $ 159,449  Retainages payable and other 7,873  9,229  Tenant rents received in advance 29,349  35,339  Lease liabilities 67,563  68,925  $ 252,148  $ 272,942  Less: deferred revenue associated with investment property held for sale (3,296) —  Deferred revenue and other liabilities $ 248,852  $ 272,942

v3.24.3

MORTGAGE AND OTHER INDEBTEDNESS (Tables)	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Schedules of Indebtedness	The following table summarizes the Company’s indebtedness as of September 30, 2024 and December 31, 2023 (in thousands): September 30, 2024 December 31, 2023 Mortgages payable $ 149,477  $ 153,306  Senior unsecured notes 2,380,000  1,829,635  Unsecured term loans 700,000  820,000  Unsecured revolving line of credit —  —  3,229,477  2,802,941  Unamortized discounts and premiums, net 24,013  35,765  Unamortized debt issuance costs, net (13,562) (9,504) Total mortgage and other indebtedness, net $ 3,239,928  $ 2,829,202  The following table summarizes the Company’s mortgages payable (dollars in thousands): September 30, 2024 December 31, 2023 Balance Weighted Average Interest Rate Weighted Average Years to Maturity Balance Weighted Average Interest Rate Weighted Average Years to Maturity Fixed rate mortgages payable(1) $ 134,277  5.10  % 7.4 $ 136,306  5.09  % 8.1 Variable rate mortgage payable(2) 15,200  7.02  % 1.8 17,000  7.59  % 2.6 Total mortgages payable $ 149,477  $ 153,306  (1)The fixed rate mortgages had interest rates ranging from 3.75% to 5.73% as of September 30, 2024 and December 31, 2023. (2)The interest rate on the variable rate mortgage is based on Bloomberg Short Term Bank Yield Index (“BSBY”) plus 215 basis points. The one-month BSBY rate was 4.87% and 5.44% as of September 30, 2024 and December 31, 2023, respectively. Subsequent to September 30, 2024, the Secured Overnight Financing Rate (“SOFR”) replaced BSBY as the index for the variable rate mortgage. The following table summarizes the Company’s senior unsecured notes and exchangeable senior notes (dollars in thousands): September 30, 2024 December 31, 2023 Maturity Date Balance Interest Rate Balance Interest Rate Senior notes – 4.58% due 2024 June 30, 2024 $ —  —  % $ 149,635  4.58  % Senior notes – 4.00% due 2025 March 15, 2025 350,000  4.00  % 350,000  4.00  % Senior notes – SOFR + 3.65% due 2025(1) September 10, 2025 80,000  7.98  % 80,000  9.27  % Senior notes – 4.08% due 2026 September 30, 2026 100,000  4.08  % 100,000  4.08  % Senior notes – 4.00% due 2026 October 1, 2026 300,000  4.00  % 300,000  4.00  % Senior exchangeable notes – 0.75% due 2027 April 1, 2027 175,000  0.75  % 175,000  0.75  % Senior notes – SOFR + 3.75% due 2027(2) September 10, 2027 75,000  8.08  % 75,000  9.37  % Senior notes – 4.24% due 2028 December 28, 2028 100,000  4.24  % 100,000  4.24  % Senior notes – 4.82% due 2029 June 28, 2029 100,000  4.82  % 100,000  4.82  % Senior notes – 4.75% due 2030 September 15, 2030 400,000  4.75  % 400,000  4.75  % Senior notes – 4.95% due 2031 December 15, 2031 350,000  4.95  % —  —  % Senior notes – 5.50% due 2034(3) March 1, 2034 350,000  4.60  % —  —  % Total senior unsecured notes $ 2,380,000  $ 1,829,635  (1)$80,000 of 4.47% senior unsecured notes due 2025 has been swapped to a variable rate of three-month SOFR plus 3.65% through September 10, 2025. (2)$75,000 of 4.57% senior unsecured notes due 2027 has been swapped to a variable rate of three-month SOFR plus 3.75% through September 10, 2025. (3)The coupon rate of the Notes Due 2034 (defined below) is 5.50%; however, as a result of hedging activities, the Company’s interest rate is 4.60%. The following table summarizes the Company’s term loans and revolving line of credit (dollars in thousands): September 30, 2024 December 31, 2023 Maturity Date Balance Interest Rate Balance Interest Rate Unsecured term loan due 2024 – fixed rate(1) July 17, 2024 $ —  —  % $ 120,000  2.68  % Unsecured term loan due 2025 – fixed rate(2) October 24, 2025 250,000  5.09  % 250,000  5.09  % Unsecured term loan due 2026 – fixed rate(3) July 17, 2026 150,000  2.73  % 150,000  2.73  % Unsecured term loan due 2029 – fixed rate(4) July 29, 2029 300,000  3.82  % 300,000  3.82  % Total unsecured term loans $ 700,000  $ 820,000  Unsecured credit facility revolving line of credit – variable rate(5) January 8, 2026 $ —  6.11  % $ —  6.58  % (1)As of December 31, 2023, $120,000 of SOFR-based variable rate debt had been swapped to a fixed rate of 1.58% plus a credit spread based on a ratings grid ranging from 0.80% to 1.65% through July 17, 2024. The applicable credit spread was 1.10% as of December 31, 2023. (2)$250,000 of SOFR-based variable rate debt has been swapped to a fixed rate of 5.09% through October 24, 2025. The maturity date of the term loan may be extended for up to three additional periods of one year each at the Operating Partnership’s option, subject to certain conditions. (3)$150,000 of SOFR-based variable rate debt has been swapped to a fixed rate of 1.68% plus a credit spread based on a ratings grid ranging from 0.75% to 1.60% through July 17, 2026. The applicable credit spread was 1.05% as of September 30, 2024 and December 31, 2023. (4)$300,000 of SOFR-based variable rate debt has been swapped to a fixed rate of 2.47% plus a credit spread based on a ratings grid ranging from 1.15% to 2.20% through August 1, 2025. The applicable credit spread was 1.35% as of September 30, 2024 and December 31, 2023. (5)The revolving line of credit has two six-month extension options that the Company can exercise, at its election, subject to (i) customary representations and warranties, including, but not limited to, the absence of an event of default as defined in the unsecured credit agreement and (ii) payment of an extension fee equal to 0.075% of the revolving line of credit capacity.
Schedule of Weighted Average Interest Rates and Maturities	Consolidated indebtedness, including weighted average interest rates and weighted average maturities as of September 30, 2024, considering the impact of interest rate swaps, is summarized below (dollars in thousands): Amount Outstanding Ratio Weighted Average Interest Rate Weighted Average Years to Maturity Fixed rate debt(1) $ 3,059,277  95  % 4.18  % 4.4 Variable rate debt(2) 170,200  5  % 7.94  % 1.9 Debt discounts, premiums and issuance costs, net 10,451  N/A N/A N/A Mortgage and other indebtedness, net $ 3,239,928  100  % 4.38  % 4.3 (1)Fixed rate debt includes the portion of variable rate debt that has been hedged by interest rate swaps. As of September 30, 2024, $700.0 million in variable rate debt is hedged to a fixed rate for a weighted average of 1.1 years. (2)Variable rate debt includes the portion of fixed rate debt that has been hedged by interest rate swaps. As of September 30, 2024, $155.0 million in fixed rate debt is hedged to a floating rate for a weighted average of 0.9 years.
Schedule of Key Terms of Revolving Facility and Term Loans	The following table summarizes the key terms of the Revolving Facility as of September 30, 2024 (dollars in thousands): Leverage-Based Pricing Investment Grade Pricing Credit Agreement Maturity Date Extension Option Extension Fee Credit Spread Facility Fee Credit Spread Facility Fee SOFR Adjustment $1,100,000 unsecured revolving line of credit 1/8/2026 2 six-month 0.075% 1.05%–1.50% 0.15%–0.30% 0.725%–1.40% 0.125%–0.30% 0.10% The following table summarizes the key terms of the unsecured term loans as of September 30, 2024 (dollars in thousands): Unsecured Term Loans Maturity Date Leverage-Based Pricing Credit Spread Investment Grade Pricing Credit Spread SOFR Adjustment $250,000 unsecured term loan due 2025 10/24/2025(1) 2.00% – 2.55% 2.00% – 2.50% 0.10% $150,000 unsecured term loan due 2026 7/17/2026 1.20% – 1.70% 0.75% – 1.60% 0.10% $300,000 unsecured term loan due 2029 7/29/2029 N/A 1.15% – 2.20% 0.10% (1)The maturity date may be extended for up to three additional periods of one year each at the Operating Partnership’s option, subject to certain conditions.
Schedule of Amortization of Debt Issuance Costs	The amounts of such amortization included in the accompanying consolidated statements of operations and comprehensive income are as follows (in thousands):   Nine Months Ended September 30, 2024 2023 Amortization of deferred leasing costs, lease intangibles and other $ 59,549  $ 83,768  Amortization of above-market lease intangibles $ 7,309  $ 9,305  The following amounts of amortization of debt issuance costs are included as a component of “Interest expense” in the accompanying consolidated statements of operations and comprehensive income (in thousands): Nine Months Ended September 30, 2024 2023 Amortization of debt issuance costs $ 2,978  $ 2,685
Schedule of Debt Discounts, Premiums and Hedge Instruments Amortization	The following amounts of amortization are included as a component of “Interest expense” in the accompanying consolidated statements of operations and comprehensive income (in thousands): Nine Months Ended September 30, 2024 2023 Amortization of debt discounts, premiums and hedge instruments $ 10,581  $ 14,992
Schedule of Debt Discounts, Premiums and Hedge Instruments Amortization Maturity	In addition, the estimated amounts of the reduction to interest expense as of September 30, 2024 for each of the next five years and thereafter related to the amortization of debt discounts, premiums and assumed hedge instruments, assuming these instruments are held to maturity, are as follows (in thousands): October 2024 through December 2024 $ 3,011  2025 7,486  2026 5,832  2027 4,914  2028 4,904  Thereafter 4,462  Total unamortized debt discounts, premiums and hedge instruments $ 30,609
Schedule of Reconciliation of Unamortized Debt Discounts, Premiums and Hedge Instruments	The following table reconciles total unamortized debt discounts, premiums and hedge instruments as of September 30, 2024 to the balance of unamortized discounts and premiums, net (in thousands): Unamortized discounts and premiums on mortgages payable, senior unsecured notes and unsecured term loans $ 28,902  Unamortized hedge instruments 1,707  Total unamortized debt discounts, premiums and hedge instruments 30,609  Unamortized hedge instruments (included in accumulated other comprehensive income) (1,707) Fair value of variable interest rate swaps (4,889) Unamortized discounts and premiums, net $ 24,013

v3.24.3

DERIVATIVE INSTRUMENTS, HEDGING ACTIVITIES AND OTHER COMPREHENSIVE INCOME (Tables)	9 Months Ended
	Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Terms and Fair Values of Derivative Financial Instruments	The following table summarizes the terms and fair values of the Company’s derivative financial instruments that were designated and qualified as part of a hedging relationship as of September 30, 2024 and December 31, 2023 (dollars in thousands): Fair Value Assets (Liabilities)(1) Type of Hedge Number of Instruments Aggregate Notional Reference Rate Interest Rate Effective Date Maturity Date September 30, 2024 December 31, 2023 Cash Flow Four $ 250,000  SOFR 2.99  % 12/1/2022 10/24/2025 $ 2,038  $ 4,952  Cash Flow Two 100,000  SOFR 2.66  % 8/1/2022 8/1/2025 1,026  2,415  Cash Flow Two 200,000  SOFR 2.37  % 11/22/2023 8/1/2025 2,528  5,716  Cash Flow Three —  SOFR 1.58  % 8/15/2022 7/17/2024 —  2,236  Cash Flow Three 150,000  SOFR 1.68  % 8/15/2022 7/17/2026 4,621  7,744  $ 700,000  $ 10,213  $ 23,063  Fair Value(2) Two $ 155,000  SOFR SOFR + 3.70% 4/23/2021 9/10/2025 $ (4,889) $ (9,408) Forward-Starting Cash Flow(3) Three $ 150,000  SOFR 3.44  % 6/28/2024 6/28/2034 $ —  $ (700) (1)Derivatives in an asset position are included within “Prepaid and other assets” and derivatives in a liability position are included within “Accounts payable and accrued expenses” in the accompanying consolidated balance sheets. (2)The derivative agreements swap a blended fixed rate of 4.52% for a blended floating rate of three-month SOFR plus 3.70%. (3)The forward-starting interest rate swaps were terminated in conjunction with the issuance of the Notes Due 2034.

v3.24.3

EARNINGS PER SHARE OR UNIT (Tables)	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Schedule of Earnings per Share, Basic and Diluted	The following summarizes the calculation of basic and diluted earnings per share for the Parent Company. We have omitted the calculation of basic and diluted earnings per unit since the dilutive securities for the Operating Partnership are the same as those for the Parent Company (dollars in thousands, except per share data): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Numerator: Net income (loss) attributable to common shareholders – basic and diluted $ 16,729  $ 2,070  $ (17,753) $ 39,519  Denominator: Weighted average common shares outstanding – basic 219,665,836  219,381,248  219,596,590  219,323,570  Effect of dilutive securities: AO LTIP Units 244,447  529,790  —  430,999  Deferred common share units 68,956  65,042  —  54,974  Exchangeable Notes 117,454  —  —  —  Weighted average common shares outstanding – diluted 220,096,693  219,976,080  219,596,590  219,809,543  Net income (loss) per common share – basic $ 0.08  $ 0.01  $ (0.08) $ 0.18  Net income (loss) per common share – diluted $ 0.08  $ 0.01  $ (0.08) $ 0.18

v3.24.3

ORGANIZATION AND BASIS OF PRESENTATION - Additional Information (Details)	9 Months Ended
	Sep. 30, 2024
General Partner Units
Organization [Line Items]
General partner, ownership interest (as a percent)	98.20%
Kite Realty Group, L.P.
Organization [Line Items]
Limited partners, ownership interest (as a percent)	1.80%

v3.24.3

ORGANIZATION AND BASIS OF PRESENTATION - Schedule of Real Estate Properties (Details) $ in Millions	Sep. 30, 2024 USD ($) ft² property
Operating Retail Properties
Real Estate Properties [Line Items]
Number of real estate properties	179
Square footage | ft²	27,720,361
Operating Retail Properties | Consolidated Entities
Real Estate Properties [Line Items]
Number of real estate properties	176
Operating Retail Properties | Equity Method Investee
Real Estate Properties [Line Items]
Number of real estate properties	3
Operating Retail Properties | Held-for-Sale
Real Estate Properties [Line Items]
Number of real estate properties	1
Office Properties
Real Estate Properties [Line Items]
Number of real estate properties	1
Square footage | ft²	287,291
Development and Redevelopment Projects | The Corner – IN
Real Estate Properties [Line Items]
Ownership percentage in equity method investment (as a percent)	50.00%
Development and Redevelopment Projects | Carillon medical office building
Real Estate Properties [Line Items]
Number of real estate properties	1
Square footage | ft²	126,000
Development and Redevelopment Projects | The Corner – IN
Real Estate Properties [Line Items]
Number of real estate properties	1
Square footage | ft²	24,000
Development and Redevelopment Projects | One Loudoun Expansion
Real Estate Properties [Line Items]
Number of real estate properties	0
Square footage | ft²	119,000
Development and Redevelopment Projects | One Loudoun Expansion | Minimum
Real Estate Properties [Line Items]
Project costs, expected | $	$ 65.0
Development and Redevelopment Projects | One Loudoun Expansion | Maximum
Real Estate Properties [Line Items]
Project costs, expected | $	$ 75.0
Development and Redevelopment Projects | Hamilton Crossing Centre
Real Estate Properties [Line Items]
Number of real estate properties	1
Square footage | ft²	92,283
Development and Redevelopment Projects | Edwards Multiplex – Ontario
Real Estate Properties [Line Items]
Number of real estate properties	1
Square footage | ft²	124,614
Operating Retail Properties with Office Components
Real Estate Properties [Line Items]
Number of real estate properties	10

v3.24.3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Investment Properties (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Accounting Policies [Abstract]
Land, buildings and improvements	$ 7,543,145	$ 7,684,066
Construction in progress	64,704	55,995
Investment properties, at cost	$ 7,607,849	$ 7,740,061

v3.24.3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Rental Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Accounting Policies [Abstract]
Fixed contractual lease payments – operating leases	$ 163,913	$ 159,491	$ 486,126	$ 478,215
Variable lease payments – operating leases	36,939	38,100	117,072	117,730
Bad debt reserve	(1,468)	(219)	(3,601)	(2,007)
Straight-line rent adjustments	3,595	3,132	9,787	9,900
Straight-line rent reserve for uncollectibility	(309)	(367)	279	(177)
Amortization of in-place lease liabilities, net	2,264	3,853	6,920	9,228
Rental income	$ 204,934	$ 203,990	$ 616,583	$ 612,889

v3.24.3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Details) $ in Thousands		1 Months Ended		3 Months Ended		9 Months Ended
	Jan. 31, 2024 USD ($) unit	Aug. 31, 2024 USD ($)	Jan. 31, 2024 USD ($) unit	Sep. 30, 2024 USD ($) jointVenture shares	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) jointVenture shares	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($) shares
Noncontrolling Interest [Line Items]
Investment in short-term deposits		$ 350,000	$ 265,000			$ 615,000	$ 0
Short-term deposits, interest rate (as a percent)	5.34%	5.05%	5.34%
Interest income				$ 2,200		$ 6,300
Variable interest entity, number of entities | jointVenture				2		2
Assets of VIEs				$ 7,129,734		$ 7,129,734		$ 6,944,078
Number of investments in unconsolidated joint ventures | jointVenture				4		4
Gain on sale						$ (864)	22,468
Gain on sale of unconsolidated property				$ 0	$ 0	2,325	0
Distribution from unconsolidated joint venture						$ 1,618	$ 0
Limited partners' capital account, units outstanding (in shares) | shares				3,960,037		3,960,037		3,512,868
Glendale Center Apartments
Noncontrolling Interest [Line Items]
Ownership percentage in equity method investment (as a percent)	11.50%		11.50%
Gain on sale	$ 20,200
Gain on sale of unconsolidated property						$ 2,300
Distribution from unconsolidated joint venture						$ 1,600
Glendale Center Apartments | Multifamily
Noncontrolling Interest [Line Items]
Number of multifamily rental units | unit	267		267
One Loudoun Downtown - Pads G & H
Noncontrolling Interest [Line Items]
Noncontrolling interest, ownership percentage by parent (as a percent)				90.00%		90.00%
Operating Partnership
Noncontrolling Interest [Line Items]
Noncontrolling interest, ownership percentage by parent (as a percent)				98.20%		98.20%		98.40%
Noncontrolling interest, ownership percentage by limited partners (as a percent)				1.80%		1.80%		1.60%
Variable Interest Entities
Noncontrolling Interest [Line Items]
Mortgage debt of VIEs				$ 110,300		$ 110,300
Assets of VIEs				$ 218,100		$ 218,100

v3.24.3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Noncontrolling Interests (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Noncontrolling interests balance as of January 1,	$ 2,430	$ 5,370
Net income allocable to noncontrolling interests, excluding redeemable noncontrolling interests	204	201
Distributions to noncontrolling interests	(760)	(3,196)
Noncontrolling interests balance as of September 30,	$ 1,874	$ 2,375

v3.24.3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Weighted Average Interests of Parent and Limited Partners (Details) - Operating Partnership	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Parent Company’s weighted average interest in the Operating Partnership	98.30%	98.50%	98.30%	98.60%
Limited partners’ weighted average interests in the Operating Partnership	1.70%	1.50%	1.70%	1.40%

v3.24.3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Redeemable Noncontrolling Interests (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Redeemable Noncontrolling Interest, Equity, Carrying Amount [Roll Forward]
Net (loss) income allocable to redeemable noncontrolling interests	$ 324	$ 107	$ (61)	$ 700
Distributions declared to redeemable noncontrolling interests			(760)	(3,196)
Redeemable Noncontrolling Interests
Redeemable Noncontrolling Interest, Equity, Carrying Amount [Roll Forward]
Redeemable noncontrolling interests balance as of January 1,			73,287	53,967
Net (loss) income allocable to redeemable noncontrolling interests			(265)	499
Distributions declared to redeemable noncontrolling interests			(2,838)	(2,281)
Other, net including adjustments to redemption value			26,842	14,815
Total limited partners’ interests in the Operating Partnership balance as of September 30,	$ 97,026	$ 67,000	$ 97,026	$ 67,000

v3.24.3

ACQUISITIONS (Details) $ in Thousands	Aug. 30, 2024 USD ($) ft²	Sep. 22, 2023 USD ($) ft²
Parkside West Cobb
Asset Acquisition [Line Items]
Square footage | ft²	141,627
Acquisition price | $	$ 40,125
Prestonwood Place
Asset Acquisition [Line Items]
Square footage | ft²		155,975
Acquisition price | $		$ 81,000

v3.24.3

DISPOSITIONS AND IMPAIRMENT CHARGES - Schedule of Property Dispositions (Details) - Disposed of by Sale $ in Thousands					3 Months Ended	9 Months Ended
	May 31, 2024 USD ($) ft²	Sep. 11, 2023 USD ($) ft²	Jun. 08, 2023 USD ($) ft²	May 08, 2023 USD ($) ft²	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($) ft²
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Square footage | ft²						534,855
Sales price						$ 127,625
Gain (loss)						$ 22,468
Ashland & Roosevelt
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Square footage | ft²	104,176
Sales price	$ 30,600
Gain (loss)	$ (1,234)
Kingwood Commons
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Square footage | ft²				158,172
Sales price				$ 27,350
Gain (loss)				$ 4,736
Pan Am Plaza & Garage
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Square footage | ft²			0
Sales price			$ 52,025
Gain (loss)			$ 23,635
Reisterstown Road Plaza
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Square footage | ft²		376,683
Sales price		$ 48,250
Gain (loss)		$ (5,903)			$ 600

v3.24.3

DISPOSITIONS AND IMPAIRMENT CHARGES - Additional Information (Details) $ in Thousands		3 Months Ended			9 Months Ended
	Sep. 11, 2023 USD ($) ft²	Sep. 30, 2024 USD ($)	Jun. 30, 2024 USD ($) ft²	Sep. 30, 2023 USD ($) ft²	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($) ft²	Oct. 24, 2023 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment charges		$ 0		$ 477	$ 66,201	$ 477
Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on disposition						$ 22,468
Square footage | ft²				534,855		534,855
Sales price				$ 127,625		$ 127,625
Disposed of by Sale | Reisterstown Road Plaza
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from escrow deposit disbursements related to property sales		600
Gain on disposition	$ (5,903)	$ 600
Square footage | ft²	376,683
Sales price	$ 48,250
Held-for-sale | City Center
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Square footage | ft²			362,278
Impairment charges			$ 66,200
Long-lived assets, carrying value			135,100
Long-lived assets, fair value			69,600
Selling costs			$ 700
Held-for-sale | City Center | Measurement Input, Capitalization Rate | Valuation, Income Approach | Fair Value, Inputs, Level 3 | Minimum
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Measurement input			0.060
Held-for-sale | City Center | Measurement Input, Capitalization Rate | Valuation, Income Approach | Fair Value, Inputs, Level 3 | Maximum
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Measurement input			0.150
Held-for-sale | Eastside
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Square footage | ft²				43,640		43,640
Impairment charges				$ 500
Real estate investment, fair value				$ 14,100		$ 14,100
Sales price							$ 14,400

v3.24.3

DISPOSITIONS AND IMPAIRMENT CHARGES - Schedule of Assets and Liabilities Associated with Investment Property Held for Sale (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Assets
Assets associated with investment property held for sale	$ 74,657	$ 0
Liabilities
Liabilities associated with investment property held for sale	3,757	$ 0
Held-for-sale | City Center
Assets
Net investment properties	68,567
Tenant and other receivables	2,358
Restricted cash and escrow deposits	225
Deferred costs, net	2,638
Prepaid and other assets	869
Assets associated with investment property held for sale	74,657
Liabilities
Accounts payable and accrued expenses	461
Deferred revenue and other liabilities	3,296
Liabilities associated with investment property held for sale	$ 3,757

v3.24.3

DEFERRED COSTS AND INTANGIBLES, NET - Schedule of Deferred Costs (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Deferred Costs [Abstract]
Acquired lease intangible assets	$ 375,055	$ 433,771
Deferred leasing costs and other	85,713	74,662
Deferred costs and intangibles, gross	460,768	508,433
Less: accumulated amortization	(205,967)	(204,262)
Total deferred costs and intangibles	254,801	304,171
Less: deferred costs associated with investment property held for sale	(2,638)	0
Deferred costs, net	$ 252,163	$ 304,171

v3.24.3

DEFERRED COSTS AND INTANGIBLES, NET - Schedule of Amortization of Deferred Costs (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Deferred Costs [Abstract]
Amortization of deferred leasing costs, lease intangibles and other	$ 59,549	$ 83,768
Amortization of above-market lease intangibles	$ 7,309	$ 9,305

v3.24.3

DEFERRED REVENUE, INTANGIBLES, NET AND OTHER LIABILITIES (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Other Liabilities Disclosure [Abstract]
Unamortized in-place lease liabilities	$ 147,363		$ 159,449
Retainages payable and other	7,873		9,229
Tenant rents received in advance	29,349		35,339
Lease liabilities	$ 67,563		$ 68,925
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Deferred revenue and other liabilities		Deferred revenue and other liabilities
Total deferred revenue and other liabilities, gross	$ 252,148		$ 272,942
Less: deferred revenue associated with investment property held for sale	(3,296)		0
Deferred revenue and other liabilities	248,852		$ 272,942
Amortization of below-market lease intangibles	$ 14,200	$ 18,500

v3.24.3

MORTGAGE AND OTHER INDEBTEDNESS - Schedule of Indebtedness (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Gross debt	$ 3,229,477	$ 2,802,941
Unamortized discounts and premiums, net	24,013	35,765
Unamortized debt issuance costs, net	(13,562)	(9,504)
Total mortgage and other indebtedness, net	3,239,928	2,829,202
Unsecured Revolving Line of Credit
Debt Instrument [Line Items]
Gross debt	0	0
Mortgages Payable
Debt Instrument [Line Items]
Gross debt	149,477	153,306
Senior Unsecured Notes
Debt Instrument [Line Items]
Gross debt	2,380,000	1,829,635
Unsecured Term Loans
Debt Instrument [Line Items]
Gross debt	$ 700,000	$ 820,000

v3.24.3

MORTGAGE AND OTHER INDEBTEDNESS - Schedule of Weighted Average Interest Rates and Maturities (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Gross debt	$ 3,229,477	$ 2,802,941
Debt discounts, premiums and issuance costs, net	10,451
Total mortgage and other indebtedness, net	$ 3,239,928	$ 2,829,202
Ratio (as a percent)	100.00%
Weighted average interest rate (as a percent)	4.38%
Weighted average years to maturity (in years)	4 years 3 months 18 days
Fixed Rate Debt Considering Hedges
Debt Instrument [Line Items]
Gross debt	$ 3,059,277
Ratio (as a percent)	95.00%
Weighted average interest rate (as a percent)	4.18%
Weighted average years to maturity (in years)	4 years 4 months 24 days
Fixed Rate Debt Considering Hedges | Variable Rate Debt
Debt Instrument [Line Items]
Total mortgage and other indebtedness, net	$ 700,000
Weighted average years to maturity (in years)	1 year 1 month 6 days
Variable Rate Debt Considering Hedges
Debt Instrument [Line Items]
Gross debt	$ 170,200
Ratio (as a percent)	5.00%
Weighted average interest rate (as a percent)	7.94%
Weighted average years to maturity (in years)	1 year 10 months 24 days
Variable Rate Debt Considering Hedges | Fixed Rate Debt
Debt Instrument [Line Items]
Total mortgage and other indebtedness, net	$ 155,000
Weighted average years to maturity (in years)	10 months 24 days

v3.24.3

MORTGAGE AND OTHER INDEBTEDNESS - Schedule of Mortgages Payable (Details) - USD ($) $ in Thousands	1 Months Ended	9 Months Ended	12 Months Ended
	Oct. 31, 2024	Sep. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Gross debt		$ 3,229,477	$ 2,802,941
Weighted average interest rate (as a percent)		4.38%
Weighted average years to maturity (in years)		4 years 3 months 18 days
Variable Rate Debt | Minimum
Debt Instrument [Line Items]
Variable interest rate (as a percent)		6.00%
Variable Rate Debt | Maximum
Debt Instrument [Line Items]
Variable interest rate (as a percent)		6.05%
Mortgages Payable
Debt Instrument [Line Items]
Gross debt		$ 149,477	153,306
Mortgages Payable | Fixed Rate Debt
Debt Instrument [Line Items]
Gross debt		$ 134,277	$ 136,306
Weighted average interest rate (as a percent)		5.10%	5.09%
Weighted average years to maturity (in years)		7 years 4 months 24 days	8 years 1 month 6 days
Mortgages Payable | Fixed Rate Debt | Minimum
Debt Instrument [Line Items]
Interest rate (as a percent)		3.75%	3.75%
Mortgages Payable | Fixed Rate Debt | Maximum
Debt Instrument [Line Items]
Interest rate (as a percent)		5.73%	5.73%
Mortgages Payable | Variable Rate Debt
Debt Instrument [Line Items]
Gross debt		$ 15,200	$ 17,000
Weighted average interest rate (as a percent)		7.02%	7.59%
Weighted average years to maturity (in years)		1 year 9 months 18 days	2 years 7 months 6 days
Variable interest rate, type [Extensible enumeration]		Bloomberg Short Term Bank Yield Index [Member]	Bloomberg Short Term Bank Yield Index [Member]
Credit spread (as a percent)		2.15%
Variable interest rate (as a percent)		4.87%	5.44%
Mortgages Payable | Variable Rate Debt | Subsequent Event
Debt Instrument [Line Items]
Variable interest rate, type [Extensible enumeration]	Secured Overnight Financing Rate (SOFR) [Member]

v3.24.3

MORTGAGE AND OTHER INDEBTEDNESS - Additional Information (Details)		1 Months Ended					9 Months Ended		12 Months Ended
	Mar. 17, 2021 $ / shares	Oct. 31, 2024 extension	Jul. 31, 2024 USD ($)	Jun. 30, 2024 USD ($)	Jul. 31, 2022 USD ($) extension	Mar. 31, 2021 USD ($) day $ / shares	Sep. 30, 2024 USD ($) extension	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)	Aug. 31, 2024 USD ($)	Jan. 31, 2024 USD ($)
Debt Instrument [Line Items]
Repayment of long-term debt							$ 313,464,000	$ 467,149,000
Gross debt							3,229,477,000		$ 2,802,941,000
Net proceeds from offering							732,993,000	332,095,000
Percentage bearing fixed interest, amount							2,500,000,000
Percentage bearing variable interest, amount							$ 715,200,000
Unsecured Revolving Line of Credit
Debt Instrument [Line Items]
Interest rate (as a percent)							6.11%		6.58%
Gross debt							$ 0		$ 0
Number of extension options | extension							2
Extension period							6 months
Kite Realty Group, L.P.
Debt Instrument [Line Items]
Repayment of long-term debt							$ 313,464,000	467,149,000
Net proceeds from offering							732,993,000	332,095,000
Kite Realty Group, L.P. | Unsecured Revolving Line of Credit
Debt Instrument [Line Items]
Line of credit, aggregate borrowing capacity					$ 1,100,000,000		$ 1,100,000,000
Line of credit, accordion feature, increase limit					600,000,000
Line of credit, accordion feature, maximum borrowing capacity					$ 2,000,000,000
Number of extension options | extension					2		2
Extension period					6 months		6 months
Variable interest rate, type [Extensible enumeration]					Secured Overnight Financing Rate (SOFR) [Member]		Secured Overnight Financing Rate (SOFR) [Member]
Credit spread, increase (as a percent)					0.10%		0.10%
Reduction of interest rate margin upon achievement of sustainability metric							0.0001
Kite Realty Group, L.P. | Unsecured Revolving Line of Credit | Subsequent Event
Debt Instrument [Line Items]
Reduction of interest rate margin upon achievement of sustainability metric		0.0002
Covenant, total leverage ratio, minimum		0.350
Covenant, total leverage ratio, maximum		0.375
Kite Realty Group, L.P. | Unsecured Revolving Line of Credit | Debt Instrument, Maturity Option, One | Subsequent Event
Debt Instrument [Line Items]
Number of extension options | extension		1
Extension period		1 year
Kite Realty Group, L.P. | Unsecured Revolving Line of Credit | Debt Instrument, Maturity Option, Two | Subsequent Event
Debt Instrument [Line Items]
Number of extension options | extension		2
Extension period		6 months
$250M Unsecured Term Loan | Kite Realty Group, L.P. | Subsequent Event | Minimum | Variable Rate Component One
Debt Instrument [Line Items]
Credit spread (as a percent)		0.75%
$250M Unsecured Term Loan | Kite Realty Group, L.P. | Subsequent Event | Minimum | Variable Rate Component Two
Debt Instrument [Line Items]
Credit spread (as a percent)		0.00%
$250M Unsecured Term Loan | Kite Realty Group, L.P. | Subsequent Event | Maximum | Variable Rate Component One
Debt Instrument [Line Items]
Credit spread (as a percent)		1.60%
$250M Unsecured Term Loan | Kite Realty Group, L.P. | Subsequent Event | Maximum | Variable Rate Component Two
Debt Instrument [Line Items]
Credit spread (as a percent)		0.60%
Fixed Rate Debt
Debt Instrument [Line Items]
Long-term debt, fair value							$ 2,500,000,000
Fixed Rate Debt | Minimum
Debt Instrument [Line Items]
Fixed interest rate (as a percent)							5.18%
Fixed Rate Debt | Maximum
Debt Instrument [Line Items]
Fixed interest rate (as a percent)							6.26%
Variable Rate Debt
Debt Instrument [Line Items]
Long-term debt, fair value							$ 717,000,000.0
Variable Rate Debt | Minimum
Debt Instrument [Line Items]
Variable interest rate (as a percent)							6.00%
Variable Rate Debt | Maximum
Debt Instrument [Line Items]
Variable interest rate (as a percent)							6.05%
Mortgages Payable
Debt Instrument [Line Items]
Scheduled principal payments							$ 3,800,000
Gross debt							149,477,000		153,306,000
Mortgages Payable | Fixed Rate Debt
Debt Instrument [Line Items]
Gross debt							$ 134,277,000		$ 136,306,000
Mortgages Payable | Fixed Rate Debt | Minimum
Debt Instrument [Line Items]
Interest rate (as a percent)							3.75%		3.75%
Mortgages Payable | Fixed Rate Debt | Maximum
Debt Instrument [Line Items]
Interest rate (as a percent)							5.73%		5.73%
Mortgages Payable | Variable Rate Debt
Debt Instrument [Line Items]
Gross debt							$ 15,200,000		$ 17,000,000
Variable interest rate, type [Extensible enumeration]							Bloomberg Short Term Bank Yield Index [Member]		Bloomberg Short Term Bank Yield Index [Member]
Credit spread (as a percent)							2.15%
Variable interest rate (as a percent)							4.87%		5.44%
Mortgages Payable | Variable Rate Debt | Subsequent Event
Debt Instrument [Line Items]
Variable interest rate, type [Extensible enumeration]		Secured Overnight Financing Rate (SOFR) [Member]
Senior Unsecured Notes
Debt Instrument [Line Items]
Gross debt							$ 2,380,000,000		$ 1,829,635,000
Senior Unsecured Notes | Senior Notes - 5.50% Due 2034
Debt Instrument [Line Items]
Principal amount of debt issued											$ 350,000,000
Interest rate (as a percent)							5.50%				5.50%
Interest rate, percentage of principal amount (as a percent)											0.98670
Effective interest rate (as a percent)											5.673%
Gross debt							$ 350,000,000		$ 0
Senior Unsecured Notes | Senior Notes - 4.58% Due 2024
Debt Instrument [Line Items]
Interest rate (as a percent)				4.58%					4.58%
Repayment of long-term debt				$ 149,600,000
Gross debt									$ 149,635,000
Senior Unsecured Notes | Senior Notes - 4.95% Due 2031
Debt Instrument [Line Items]
Principal amount of debt issued										$ 350,000,000
Interest rate (as a percent)							4.95%		0.00%	4.95%
Interest rate, percentage of principal amount (as a percent)										0.99328
Effective interest rate (as a percent)										5.062%
Gross debt							$ 350,000,000		$ 0
Senior Unsecured Notes | Senior Notes - 4.00% Due 2025
Debt Instrument [Line Items]
Interest rate (as a percent)							4.00%		4.00%
Gross debt							$ 350,000,000		$ 350,000,000
Senior Exchangeable Notes | Kite Realty Group, L.P.
Debt Instrument [Line Items]
Principal amount of debt issued						$ 175,000,000
Interest rate (as a percent)						0.75%
Net proceeds from offering						$ 169,700,000
Interest expense							$ 1,000,000	$ 1,000,000
Exchangeable conversion ratio						0.0396628	0.0406713
Conversion price (in USD per share) | $ / shares						$ 25.21
Exchange premium, percent of closing price (as a percent)						25.00%
Percentage of exchange price (as a percent)						130.00%
Trading days | day						20
Consecutive trading days | day						30
Redemption price, percentage (as a percent)						100.00%
Senior Exchangeable Notes | Kite Realty Group, L.P. | Common Shares
Debt Instrument [Line Items]
Common stock closing price (in USD per share) | $ / shares	$ 20.17
Senior Exchangeable Notes | Capped Call | Kite Realty Group, L.P.
Debt Instrument [Line Items]
Exchange premium, percent of closing price (as a percent)						50.00%
Exchange price (in USD per share) | $ / shares						$ 30.26
Purchase of capped calls							$ 9,800,000
Unsecured Term Loans
Debt Instrument [Line Items]
Gross debt							$ 700,000,000		$ 820,000,000
Unsecured Term Loans | $120M Unsecured Term Loan
Debt Instrument [Line Items]
Interest rate (as a percent)							0.00%		2.68%
Repayment of long-term debt			$ 120,000,000
Gross debt			$ 120,000,000				$ 0		$ 120,000,000
Variable interest rate, type [Extensible enumeration]									Secured Overnight Financing Rate (SOFR) [Member]
Fixed interest rate (as a percent)									1.58%
Variable interest rate (as a percent)									1.10%
Unsecured Term Loans | $120M Unsecured Term Loan | Minimum
Debt Instrument [Line Items]
Credit spread (as a percent)									0.80%
Unsecured Term Loans | $120M Unsecured Term Loan | Maximum
Debt Instrument [Line Items]
Credit spread (as a percent)									1.65%
Unsecured Term Loans | $300M Unsecured Term Loan
Debt Instrument [Line Items]
Interest rate (as a percent)							3.82%		3.82%
Gross debt							$ 300,000,000		$ 300,000,000
Variable interest rate, type [Extensible enumeration]							Secured Overnight Financing Rate (SOFR) [Member]		Secured Overnight Financing Rate (SOFR) [Member]
Fixed interest rate (as a percent)							2.47%
Variable interest rate (as a percent)							1.35%		1.35%
Unsecured Term Loans | $300M Unsecured Term Loan | Minimum
Debt Instrument [Line Items]
Credit spread (as a percent)							1.15%
Unsecured Term Loans | $300M Unsecured Term Loan | Maximum
Debt Instrument [Line Items]
Credit spread (as a percent)							2.20%
Unsecured Term Loans | $300M Unsecured Term Loan | Kite Realty Group, L.P.
Debt Instrument [Line Items]
Principal amount of debt issued					$ 300,000,000
Gross debt							$ 300,000,000
Debt instrument term (in years)					7 years
Variable interest rate, type [Extensible enumeration]							Secured Overnight Financing Rate (SOFR) [Member]
Credit spread, increase (as a percent)							0.10%
Reduction of interest rate margin upon achievement of sustainability metric							0.0001
Unsecured Term Loans | $250M Unsecured Term Loan
Debt Instrument [Line Items]
Interest rate (as a percent)							5.09%		5.09%
Gross debt							$ 250,000,000		$ 250,000,000
Number of extension options | extension							3
Extension period							1 year
Variable interest rate, type [Extensible enumeration]							Secured Overnight Financing Rate (SOFR) [Member]
Fixed interest rate (as a percent)							5.09%
Unsecured Term Loans | $250M Unsecured Term Loan | Kite Realty Group, L.P.
Debt Instrument [Line Items]
Gross debt							$ 250,000,000
Number of extension options | extension							3
Extension period							1 year
Variable interest rate, type [Extensible enumeration]							Secured Overnight Financing Rate (SOFR) [Member]
Credit spread, increase (as a percent)							0.10%
Maximum borrowing capacity							$ 300,000,000.0
Unsecured Term Loans | $250M Unsecured Term Loan | Kite Realty Group, L.P. | Subsequent Event
Debt Instrument [Line Items]
Number of extension options | extension		1
Extension period		1 year
Unsecured Term Loans | $150M Unsecured Term Loan
Debt Instrument [Line Items]
Interest rate (as a percent)							2.73%		2.73%
Gross debt							$ 150,000,000		$ 150,000,000
Variable interest rate, type [Extensible enumeration]							Secured Overnight Financing Rate (SOFR) [Member]		Secured Overnight Financing Rate (SOFR) [Member]
Fixed interest rate (as a percent)							1.68%
Variable interest rate (as a percent)							1.05%		1.05%
Unsecured Term Loans | $150M Unsecured Term Loan | Minimum
Debt Instrument [Line Items]
Credit spread (as a percent)							0.75%
Unsecured Term Loans | $150M Unsecured Term Loan | Maximum
Debt Instrument [Line Items]
Credit spread (as a percent)							1.60%
Unsecured Term Loans | $150M Unsecured Term Loan | Kite Realty Group, L.P.
Debt Instrument [Line Items]
Gross debt							$ 150,000,000
Variable interest rate, type [Extensible enumeration]							Secured Overnight Financing Rate (SOFR) [Member]
Credit spread, increase (as a percent)							0.10%
Reduction of interest rate margin upon achievement of sustainability metric							0.0001
Maximum borrowing capacity							$ 250,000,000

v3.24.3

MORTGAGE AND OTHER INDEBTEDNESS - Schedule of Unsecured Notes (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Aug. 31, 2024	Jun. 30, 2024	Jan. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Gross debt	$ 3,229,477				$ 2,802,941
Senior Unsecured Notes
Debt Instrument [Line Items]
Gross debt	2,380,000				1,829,635
Senior Unsecured Notes | Senior Notes - 4.58% Due 2024
Debt Instrument [Line Items]
Gross debt					$ 149,635
Interest rate (as a percent)			4.58%		4.58%
Senior Unsecured Notes | Senior Notes - 4.00% Due 2025
Debt Instrument [Line Items]
Gross debt	$ 350,000				$ 350,000
Interest rate (as a percent)	4.00%				4.00%
Senior Unsecured Notes | Senior Notes - SOFR + 3.65% Due 2025
Debt Instrument [Line Items]
Gross debt	$ 80,000				$ 80,000
Interest rate (as a percent)	7.98%				9.27%
Variable interest rate, type [Extensible enumeration]	Secured Overnight Financing Rate (SOFR) [Member]
Credit spread (as a percent)	3.65%
Senior Unsecured Notes | Senior Notes - 4.47% Due 2025
Debt Instrument [Line Items]
Gross debt	$ 80,000
Interest rate (as a percent)	4.47%
Variable interest rate, type [Extensible enumeration]	Secured Overnight Financing Rate (SOFR) [Member]
Credit spread (as a percent)	3.65%
Senior Unsecured Notes | Senior Notes - 4.08% Due 2026
Debt Instrument [Line Items]
Gross debt	$ 100,000				$ 100,000
Interest rate (as a percent)	4.08%				4.08%
Senior Unsecured Notes | Senior Notes - 4.00% Due 2026
Debt Instrument [Line Items]
Gross debt	$ 300,000				$ 300,000
Interest rate (as a percent)	4.00%				4.00%
Senior Unsecured Notes | Senior Notes - SOFR + 3.75% Due 2027
Debt Instrument [Line Items]
Gross debt	$ 75,000				$ 75,000
Interest rate (as a percent)	8.08%				9.37%
Variable interest rate, type [Extensible enumeration]	Secured Overnight Financing Rate (SOFR) [Member]
Credit spread (as a percent)	3.75%
Senior Unsecured Notes | Senior Notes - 4.57% Due 2027
Debt Instrument [Line Items]
Gross debt	$ 75,000
Interest rate (as a percent)	4.57%
Variable interest rate, type [Extensible enumeration]	Secured Overnight Financing Rate (SOFR) [Member]
Credit spread (as a percent)	3.75%
Senior Unsecured Notes | Senior Notes - 4.24% Due 2028
Debt Instrument [Line Items]
Gross debt	$ 100,000				$ 100,000
Interest rate (as a percent)	4.24%				4.24%
Senior Unsecured Notes | Senior Notes - 4.82% Due 2029
Debt Instrument [Line Items]
Gross debt	$ 100,000				$ 100,000
Interest rate (as a percent)	4.82%				4.82%
Senior Unsecured Notes | Senior Notes - 4.75% Due 2030
Debt Instrument [Line Items]
Gross debt	$ 400,000				$ 400,000
Interest rate (as a percent)	4.75%				4.75%
Senior Unsecured Notes | Senior Notes - 4.95% Due 2031
Debt Instrument [Line Items]
Gross debt	$ 350,000				$ 0
Interest rate (as a percent)	4.95%	4.95%			0.00%
Senior Unsecured Notes | Senior Notes - 5.50% Due 2034
Debt Instrument [Line Items]
Gross debt	$ 350,000				$ 0
Interest rate (as a percent)	5.50%			5.50%
Senior Unsecured Notes | Senior Notes - 5.50% Due 2034 | Designated as Hedging Instrument
Debt Instrument [Line Items]
Interest rate (as a percent)	4.60%				0.00%
Senior Exchangeable Notes | Senior Exchangeable Notes - 0.75% Due 2027
Debt Instrument [Line Items]
Gross debt	$ 175,000				$ 175,000
Interest rate (as a percent)	0.75%				0.75%

v3.24.3

MORTGAGE AND OTHER INDEBTEDNESS - Schedule of Term Loans and Revolving Line of Credit (Details)	9 Months Ended	12 Months Ended
	Sep. 30, 2024 USD ($) extension	Dec. 31, 2023 USD ($)	Jul. 31, 2024 USD ($)
Debt Instrument [Line Items]
Gross debt	$ 3,229,477,000	$ 2,802,941,000
Unsecured Credit Facility Revolving Line of Credit
Debt Instrument [Line Items]
Gross debt	$ 0	$ 0
Interest rate (as a percent)	6.11%	6.58%
Number of extension options | extension	2
Extension period	6 months
Extension fee percentage (as a percent)	0.00075
Unsecured Term Loans
Debt Instrument [Line Items]
Gross debt	$ 700,000,000	$ 820,000,000
Unsecured Term Loan Due 2024 | Unsecured Term Loans
Debt Instrument [Line Items]
Gross debt	$ 0	$ 120,000,000	$ 120,000,000
Interest rate (as a percent)	0.00%	2.68%
Variable interest rate, type [Extensible enumeration]		Secured Overnight Financing Rate (SOFR) [Member]
Fixed interest rate (as a percent)		1.58%
Variable interest rate (as a percent)		1.10%
Unsecured Term Loan Due 2024 | Unsecured Term Loans | Minimum
Debt Instrument [Line Items]
Credit spread (as a percent)		0.80%
Unsecured Term Loan Due 2024 | Unsecured Term Loans | Maximum
Debt Instrument [Line Items]
Credit spread (as a percent)		1.65%
Unsecured Term Loan Due 2025 | Unsecured Term Loans
Debt Instrument [Line Items]
Gross debt	$ 250,000,000	$ 250,000,000
Interest rate (as a percent)	5.09%	5.09%
Variable interest rate, type [Extensible enumeration]	Secured Overnight Financing Rate (SOFR) [Member]
Fixed interest rate (as a percent)	5.09%
Number of extension options | extension	3
Extension period	1 year
Unsecured Term Loan Due 2026 | Unsecured Term Loans
Debt Instrument [Line Items]
Gross debt	$ 150,000,000	$ 150,000,000
Interest rate (as a percent)	2.73%	2.73%
Variable interest rate, type [Extensible enumeration]	Secured Overnight Financing Rate (SOFR) [Member]	Secured Overnight Financing Rate (SOFR) [Member]
Fixed interest rate (as a percent)	1.68%
Variable interest rate (as a percent)	1.05%	1.05%
Unsecured Term Loan Due 2026 | Unsecured Term Loans | Minimum
Debt Instrument [Line Items]
Credit spread (as a percent)	0.75%
Unsecured Term Loan Due 2026 | Unsecured Term Loans | Maximum
Debt Instrument [Line Items]
Credit spread (as a percent)	1.60%
Unsecured Term Loan Due 2029 | Unsecured Term Loans
Debt Instrument [Line Items]
Gross debt	$ 300,000,000	$ 300,000,000
Interest rate (as a percent)	3.82%	3.82%
Variable interest rate, type [Extensible enumeration]	Secured Overnight Financing Rate (SOFR) [Member]	Secured Overnight Financing Rate (SOFR) [Member]
Fixed interest rate (as a percent)	2.47%
Variable interest rate (as a percent)	1.35%	1.35%
Unsecured Term Loan Due 2029 | Unsecured Term Loans | Minimum
Debt Instrument [Line Items]
Credit spread (as a percent)	1.15%
Unsecured Term Loan Due 2029 | Unsecured Term Loans | Maximum
Debt Instrument [Line Items]
Credit spread (as a percent)	2.20%

v3.24.3

MORTGAGE AND OTHER INDEBTEDNESS - Schedule of Revolving Facility (Details) - Unsecured Revolving Line of Credit	1 Months Ended	9 Months Ended
	Jul. 31, 2022 USD ($) extension	Sep. 30, 2024 USD ($) extension
Line of Credit Facility [Line Items]
Number of extension options		2
Extension period		6 months
Extension fee percentage (as a percent)		0.00075
Kite Realty Group, L.P.
Line of Credit Facility [Line Items]
Line of credit, aggregate borrowing capacity | $	$ 1,100,000,000	$ 1,100,000,000
Number of extension options	2	2
Extension period	6 months	6 months
Extension fee percentage (as a percent)		0.00075
Basis spread on variable rate (as a percent)	0.10%	0.10%
Variable interest rate, type [Extensible enumeration]	Secured Overnight Financing Rate (SOFR) [Member]	Secured Overnight Financing Rate (SOFR) [Member]
Kite Realty Group, L.P. | Minimum | Leverage-Based Pricing
Line of Credit Facility [Line Items]
Credit spread (as a percent)		1.05%
Facility fee (as a percent)		0.15%
Kite Realty Group, L.P. | Minimum | Investment Grade Pricing
Line of Credit Facility [Line Items]
Credit spread (as a percent)		0.725%
Facility fee (as a percent)		0.125%
Kite Realty Group, L.P. | Maximum | Leverage-Based Pricing
Line of Credit Facility [Line Items]
Credit spread (as a percent)		1.50%
Facility fee (as a percent)		0.30%
Kite Realty Group, L.P. | Maximum | Investment Grade Pricing
Line of Credit Facility [Line Items]
Credit spread (as a percent)		1.40%
Facility fee (as a percent)		0.30%

v3.24.3

MORTGAGE AND OTHER INDEBTEDNESS - Schedule of Unsecured Term Loans (Details)	9 Months Ended	12 Months Ended
	Sep. 30, 2024 USD ($) extension	Dec. 31, 2023 USD ($)
Debt Instrument [Line Items]
Gross debt	$ 3,229,477,000	$ 2,802,941,000
Unsecured Term Loans
Debt Instrument [Line Items]
Gross debt	700,000,000	820,000,000
Unsecured Term Loans | $250M Unsecured Term Loan
Debt Instrument [Line Items]
Gross debt	$ 250,000,000	250,000,000
Variable interest rate, type [Extensible enumeration]	Secured Overnight Financing Rate (SOFR) [Member]
Number of extension options | extension	3
Extension period	1 year
Unsecured Term Loans | $250M Unsecured Term Loan | Kite Realty Group, L.P.
Debt Instrument [Line Items]
Gross debt	$ 250,000,000
Variable interest rate, type [Extensible enumeration]	Secured Overnight Financing Rate (SOFR) [Member]
Credit spread, increase (as a percent)	0.10%
Number of extension options | extension	3
Extension period	1 year
Unsecured Term Loans | $250M Unsecured Term Loan | Kite Realty Group, L.P. | Minimum | Leverage-Based Pricing
Debt Instrument [Line Items]
Credit spread (as a percent)	2.00%
Unsecured Term Loans | $250M Unsecured Term Loan | Kite Realty Group, L.P. | Minimum | Investment Grade Pricing
Debt Instrument [Line Items]
Credit spread (as a percent)	2.00%
Unsecured Term Loans | $250M Unsecured Term Loan | Kite Realty Group, L.P. | Maximum | Leverage-Based Pricing
Debt Instrument [Line Items]
Credit spread (as a percent)	2.55%
Unsecured Term Loans | $250M Unsecured Term Loan | Kite Realty Group, L.P. | Maximum | Investment Grade Pricing
Debt Instrument [Line Items]
Credit spread (as a percent)	2.50%
Unsecured Term Loans | $150M Unsecured Term Loan
Debt Instrument [Line Items]
Gross debt	$ 150,000,000	$ 150,000,000
Variable interest rate, type [Extensible enumeration]	Secured Overnight Financing Rate (SOFR) [Member]	Secured Overnight Financing Rate (SOFR) [Member]
Unsecured Term Loans | $150M Unsecured Term Loan | Minimum
Debt Instrument [Line Items]
Credit spread (as a percent)	0.75%
Unsecured Term Loans | $150M Unsecured Term Loan | Maximum
Debt Instrument [Line Items]
Credit spread (as a percent)	1.60%
Unsecured Term Loans | $150M Unsecured Term Loan | Kite Realty Group, L.P.
Debt Instrument [Line Items]
Gross debt	$ 150,000,000
Variable interest rate, type [Extensible enumeration]	Secured Overnight Financing Rate (SOFR) [Member]
Credit spread, increase (as a percent)	0.10%
Unsecured Term Loans | $150M Unsecured Term Loan | Kite Realty Group, L.P. | Minimum | Leverage-Based Pricing
Debt Instrument [Line Items]
Credit spread (as a percent)	1.20%
Unsecured Term Loans | $150M Unsecured Term Loan | Kite Realty Group, L.P. | Minimum | Investment Grade Pricing
Debt Instrument [Line Items]
Credit spread (as a percent)	0.75%
Unsecured Term Loans | $150M Unsecured Term Loan | Kite Realty Group, L.P. | Maximum | Leverage-Based Pricing
Debt Instrument [Line Items]
Credit spread (as a percent)	1.70%
Unsecured Term Loans | $150M Unsecured Term Loan | Kite Realty Group, L.P. | Maximum | Investment Grade Pricing
Debt Instrument [Line Items]
Credit spread (as a percent)	1.60%
Unsecured Term Loans | $300M Unsecured Term Loan
Debt Instrument [Line Items]
Gross debt	$ 300,000,000	$ 300,000,000
Variable interest rate, type [Extensible enumeration]	Secured Overnight Financing Rate (SOFR) [Member]	Secured Overnight Financing Rate (SOFR) [Member]
Unsecured Term Loans | $300M Unsecured Term Loan | Minimum
Debt Instrument [Line Items]
Credit spread (as a percent)	1.15%
Unsecured Term Loans | $300M Unsecured Term Loan | Maximum
Debt Instrument [Line Items]
Credit spread (as a percent)	2.20%
Unsecured Term Loans | $300M Unsecured Term Loan | Kite Realty Group, L.P.
Debt Instrument [Line Items]
Gross debt	$ 300,000,000
Variable interest rate, type [Extensible enumeration]	Secured Overnight Financing Rate (SOFR) [Member]
Credit spread, increase (as a percent)	0.10%
Unsecured Term Loans | $300M Unsecured Term Loan | Kite Realty Group, L.P. | Minimum | Investment Grade Pricing
Debt Instrument [Line Items]
Credit spread (as a percent)	1.15%
Unsecured Term Loans | $300M Unsecured Term Loan | Kite Realty Group, L.P. | Maximum | Investment Grade Pricing
Debt Instrument [Line Items]
Credit spread (as a percent)	2.20%

v3.24.3

MORTGAGE AND OTHER INDEBTEDNESS - Schedule of Amortization of Debt Issuance Costs (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Debt Disclosure [Abstract]
Amortization of debt issuance costs	$ 2,978	$ 2,685

v3.24.3

MORTGAGE AND OTHER INDEBTEDNESS - Schedule of Amortization of Debt Discounts and Premiums (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Debt Disclosure [Abstract]
Amortization of debt discounts, premiums and hedge instruments	$ 10,581	$ 14,992

v3.24.3

MORTGAGE AND OTHER INDEBTEDNESS - Schedule of Maturities for Debt Discounts, Premiums and Hedge Instruments Amortization (Details) $ in Thousands	Sep. 30, 2024 USD ($)
Debt Disclosure [Abstract]
October 2024 through December 2024	$ 3,011
2025	7,486
2026	5,832
2027	4,914
2028	4,904
Thereafter	4,462
Total unamortized debt discounts, premiums and hedge instruments	$ 30,609

v3.24.3

MORTGAGE AND OTHER INDEBTEDNESS - Reconciliation of Debt Discounts, Premiums and Hedge Instruments Amortization (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Debt Disclosure [Abstract]
Unamortized discounts and premiums on mortgages payable, senior unsecured notes and unsecured term loans	$ 28,902
Unamortized hedge instruments	1,707
Total unamortized debt discounts, premiums and hedge instruments	30,609
Unamortized hedge instruments (included in accumulated other comprehensive income)	(1,707)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Unamortized discounts and premiums, net	24,013	$ 35,765
$155M Interest Rate Swap Maturing in 2025 | Fair Value
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Fair value of variable interest rate swaps	$ (4,889)	$ (9,408)

v3.24.3

DERIVATIVE INSTRUMENTS, HEDGING ACTIVITIES AND OTHER COMPREHENSIVE INCOME - Schedule of Terms and Fair Value of Derivative Financial Instruments (Details) $ in Thousands	Sep. 30, 2024 USD ($) instrument	Dec. 31, 2023 USD ($)
Interest Rate Swap | Cash Flow
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Aggregate notional	$ 700,000
Fair value assets (liabilities)	$ 10,213	$ 23,063
$250M Interest Rate Swap Maturing in 2025 | Cash Flow
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Number of instruments | instrument	4
Aggregate notional	$ 250,000
Variable interest rate, type [Extensible enumeration]	Secured Overnight Financing Rate (SOFR) [Member]
Interest rate (as a percent)	2.99%
Fair value assets (liabilities)	$ 2,038	4,952
$100M Interest Rate Swap Maturing in 2025 | Cash Flow
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Number of instruments | instrument	2
Aggregate notional	$ 100,000
Variable interest rate, type [Extensible enumeration]	Secured Overnight Financing Rate (SOFR) [Member]
Interest rate (as a percent)	2.66%
Fair value assets (liabilities)	$ 1,026	2,415
$200M Interest Rate Swap Maturing in 2025 | Cash Flow
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Number of instruments | instrument	2
Aggregate notional	$ 200,000
Variable interest rate, type [Extensible enumeration]	Secured Overnight Financing Rate (SOFR) [Member]
Interest rate (as a percent)	2.37%
Fair value assets (liabilities)	$ 2,528	5,716
Interest Rate Swap Maturing in 2024 | Cash Flow
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Number of instruments | instrument	3
Aggregate notional	$ 0
Variable interest rate, type [Extensible enumeration]	Secured Overnight Financing Rate (SOFR) [Member]
Interest rate (as a percent)	1.58%
Fair value assets (liabilities)	$ 0	2,236
$150M Interest Rate Swap Maturing in 2026 | Cash Flow
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Number of instruments | instrument	3
Aggregate notional	$ 150,000
Variable interest rate, type [Extensible enumeration]	Secured Overnight Financing Rate (SOFR) [Member]
Interest rate (as a percent)	1.68%
Fair value assets (liabilities)	$ 4,621	7,744
$155M Interest Rate Swap Maturing in 2025 | Fair Value
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Number of instruments | instrument	2
Aggregate notional	$ 155,000
Variable interest rate, type [Extensible enumeration]	Secured Overnight Financing Rate (SOFR) [Member]
Blending floating interest rate (as a percent)	3.70%
Fair value assets (liabilities)	$ (4,889)	(9,408)
Fixed interest rate (as a percent)	4.52%
$150M Forward-Starting Interest Rate Swap Maturing in 2034 | Cash Flow
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Number of instruments | instrument	3
Aggregate notional	$ 150,000
Variable interest rate, type [Extensible enumeration]	Secured Overnight Financing Rate (SOFR) [Member]
Interest rate (as a percent)	3.44%
Fair value assets (liabilities)	$ 0	$ (700)

v3.24.3

DERIVATIVE INSTRUMENTS, HEDGING ACTIVITIES AND OTHER COMPREHENSIVE INCOME - Additional Information (Details) $ in Millions	1 Months Ended	3 Months Ended		9 Months Ended		12 Months Ended
	Oct. 31, 2022 USD ($) derivativeContract	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($) instrument	Aug. 31, 2024 USD ($) instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain reclassified from AOCI into income, effective portion, net		$ 4.1	$ 5.5	$ 13.9	$ 13.2
$350M Intraday Interest Rate Lock Agreements Maturing in 2031 | Kite Realty Group, L.P.
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Number of instruments | instrument							2
Aggregate notional							$ 350.0
Fixed interest rate (as a percent)							3.75%
Payments for terminated interest rate lock agreements				0.1
$150M Forward-Starting Interest Rate Swap Maturing in 2034 | Kite Realty Group, L.P.
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Number of instruments | instrument						3
Aggregate notional						$ 150.0
Fixed interest rate (as a percent)						3.44%
Proceeds from terminated interest rate swap contracts				0.7
$150M Forward-Starting Interest Rate Swap Maturing in 2032 | Kite Realty Group, L.P.
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Aggregate notional	$ 150.0
Proceeds from terminated interest rate swap contracts	$ 30.9
Number of instruments terminated | derivativeContract	2
Amount reclassified from terminated interest rate swap contracts						$ 3.1
Interest Rate Swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount expected to be reclassified to interest expense over the next 12 months				$ 12.8

v3.24.3

SHAREHOLDERS’ EQUITY (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Stockholders' Equity Note [Abstract]
Dividends declared per common share (in USD per share)	$ 0.26	$ 0.24	$ 0.76	$ 0.72
Aggregate value of shares authorized to be repurchased	$ 300,000,000		$ 300,000,000
Number of shares repurchased (in shares)			0

v3.24.3

EARNINGS PER SHARE OR UNIT - Additional Information (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share [Abstract]
Weighted average limited partner units outstanding, basic (in shares)	3,900,000	3,300,000	3,700,000	3,100,000
Dilutive impact of securities (in shares)			0
Exchangeable notes (in shares)	117,454	0	0	0

v3.24.3

EARNINGS PER SHARE OR UNIT - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Numerator:
Net income (loss) attributable to common shareholders – basic	$ 16,729	$ 2,070	$ (17,753)	$ 39,519
Net income (loss) attributable to common shareholders – diluted	$ 16,729	$ 2,070	$ (17,753)	$ 39,519
Denominator:
Weighted average common shares outstanding – basic (in shares)	219,665,836	219,381,248	219,596,590	219,323,570
Effect of dilutive securities:
Effect of dilutive securities (in shares)			0
Exchangeable notes (in shares)	117,454	0	0	0
Weighted average common shares outstanding – diluted (in shares)	220,096,693	219,976,080	219,596,590	219,809,543
Net income (loss) per common share – basic (in USD per share)	$ 0.08	$ 0.01	$ (0.08)	$ 0.18
Net income (loss) per common share– diluted (in USD per share)	$ 0.08	$ 0.01	$ (0.08)	$ 0.18
AO LTIP Units
Effect of dilutive securities:
Effect of dilutive securities (in shares)	244,447	529,790	0	430,999
Deferred common share units
Effect of dilutive securities:
Effect of dilutive securities (in shares)	68,956	65,042	0	54,974

v3.24.3

COMMITMENTS AND CONTINGENCIES (Details) - USD ($)	1 Months Ended
	Jul. 31, 2024	Sep. 30, 2024	Dec. 31, 2021	Dec. 31, 2017
Embassy Suites at Eddy St. Commons Joint Venture
Guarantor Obligations [Line Items]
Ownership percentage in equity method investment (as a percent)	35.00%			35.00%
Embassy Suites at Eddy St. Commons Joint Venture | Payment Guarantee
Guarantor Obligations [Line Items]
Current amount of obligation				$ 5,900,000
Embassy Suites at Eddy St. Commons Joint Venture | Construction Loans
Guarantor Obligations [Line Items]
Repayment guaranties				$ 33,800,000
Repayment of construction loan	$ 10,200,000
Buckingham Joint Venture at The Corner
Guarantor Obligations [Line Items]
Construction loan payable		$ 69,900,000
Buckingham Joint Venture at The Corner | Payment Guarantee | Construction Contracts
Guarantor Obligations [Line Items]
Current amount of obligation		$ 35,000,000.0
Buckingham Joint Venture at The Corner | Construction Loans
Guarantor Obligations [Line Items]
Repayment guaranties			$ 66,200,000

v3.24.3

SUBSEQUENT EVENTS (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Subsequent Event [Line Items]
Gross debt	$ 3,229,477,000	$ 2,802,941,000
Unsecured Term Loans
Subsequent Event [Line Items]
Gross debt	700,000,000	820,000,000
Unsecured term loan due 2025 | Unsecured Term Loans
Subsequent Event [Line Items]
Gross debt	250,000,000	$ 250,000,000
Unsecured term loan due 2025 | Unsecured Term Loans | Kite Realty Group, L.P.
Subsequent Event [Line Items]
Gross debt	$ 250,000,000

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