KITE REALTY GROUP TRUST, 10-Q filed on 4/29/2026
Quarterly Report
v3.26.1
Cover Page - shares
 3 Months Ended
Mar. 31, 2026
Apr. 24, 2026
Entity Information [Line Items]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Mar. 31, 2026  
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, $0.01 par value per share  
Trading Symbol KRG  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   203,066,551
Current Fiscal Year End Date --12-31  
Amendment Flag false  
Entity Central Index Key 0001286043  
Document Fiscal Year Focus 2026  
Document Fiscal Period Focus Q1  
Kite Realty Group, L.P.    
Entity Information [Line Items]    
Entity File Number 333-202666-01  
Entity Registrant Name KITE REALTY GROUP, L.P.  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 20-1453863  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Non-accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Central Index Key 0001636315  
v3.26.1
Consolidated Balance Sheets - KRG Trust - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Assets:    
Investment properties, at cost $ 7,029,261 $ 7,003,479
Less: accumulated depreciation (1,717,404) (1,656,191)
Net investment properties 5,311,857 5,347,288
Cash and cash equivalents 32,539 36,761
Tenant and other receivables, including accrued straight-line rent of $72,548 and $70,940, respectively 133,290 127,865
Restricted cash and escrow deposits 190,581 441,605
Deferred costs, net 172,805 181,553
Prepaid and other assets 98,560 93,913
Investments in unconsolidated joint ventures 356,555 364,407
Assets associated with investment properties held for sale 54,073 71,105
Total assets 6,350,260 6,664,497
Liabilities:    
Mortgage and other indebtedness, net 2,992,389 3,025,478
Accounts payable and accrued expenses 156,908 221,118
Deferred revenue and other liabilities 207,603 221,813
Liabilities associated with investment properties held for sale 3,754 4,314
Total liabilities 3,360,654 3,472,723
Commitments and contingencies
Limited Partners’ interests in the Operating Partnership 130,306 116,245
Equity:    
Common shares, $0.01 par value, 490,000,000 shares authorized, 203,058,977 and 208,979,900 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively 2,031 2,090
Additional paid-in capital 4,445,350 4,612,280
Accumulated other comprehensive income 21,352 23,079
Accumulated deficit (1,611,337) (1,563,840)
Total shareholders’ equity 2,857,396 3,073,609
Noncontrolling interests 1,904 1,920
Total equity 2,859,300 3,075,529
Total liabilities and equity $ 6,350,260 $ 6,664,497
v3.26.1
Consolidated Balance Sheets (Parenthetical) - KRG Trust - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Statement of Financial Position [Abstract]    
Accrued straight-line rent $ 72,548 $ 70,940
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) 203,058,977 208,979,900
Common shares, shares outstanding (in shares) 203,058,977 208,979,900
v3.26.1
Consolidated Statements of Operations and Comprehensive Income - KRG Trust - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Revenue:    
Rental income $ 198,042 $ 219,172
Total revenue 200,697 221,077
Expenses:    
Property operating 31,116 29,826
Real estate taxes 24,824 27,761
General, administrative and other 13,950 12,258
Depreciation and amortization 82,491 98,231
Impairment charges 5,888 0
Total expenses 158,269 168,076
Other (expense) income:    
Interest expense (31,696) (32,954)
Income tax expense of taxable REIT subsidiaries (395) (10)
Gain on sales of operating properties, net 0 91
Net gains from outlot sales 1,039 0
Equity in loss of unconsolidated joint ventures (2,216) (607)
Other income, net 2,572 4,743
Net income 11,732 24,264
Net income attributable to noncontrolling interests (338) (534)
Net income attributable to common shareholders $ 11,394 $ 23,730
Net income per common share – basic (in USD per share) $ 0.06 $ 0.11
Net income per common share – diluted (in USD per share) $ 0.06 $ 0.11
Weighted average common shares outstanding – basic (in shares) 205,686,342 219,715,674
Weighted average common shares outstanding – diluted (in shares) 206,063,468 219,827,298
Net income $ 11,732 $ 24,264
Change in fair value of derivatives (1,700) (4,280)
Total comprehensive income 10,032 19,984
Comprehensive income attributable to noncontrolling interests (365) (559)
Comprehensive income attributable to the Company 9,667 19,425
Other property-related revenue    
Revenue:    
Other revenue 1,359 1,480
Fee income    
Revenue:    
Other revenue $ 1,296 $ 425
v3.26.1
Consolidated Statements of Shareholders' Equity - 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, 2024   219,667,067      
Balance at beginning of period at Dec. 31, 2024 $ 3,312,110 $ 2,197 $ 4,868,554 $ 36,612 $ (1,595,253)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Stock compensation activity (in shares)   145,233      
Stock compensation activity 1,450 $ 1 1,449    
Other comprehensive loss (4,305)     (4,305)  
Distributions to common shareholders (59,349)       (59,349)
Net income attributable to common shareholders 23,730       23,730
Adjustment to redeemable noncontrolling interests (5,683)   (5,683)    
Balance at end of period (in shares) at Mar. 31, 2025   219,812,300      
Balance at end of period at Mar. 31, 2025 $ 3,267,953 $ 2,198 4,864,320 32,307 (1,630,872)
Balance at beginning of period (in shares) at Dec. 31, 2025 208,979,900 208,979,900      
Balance at beginning of period at Dec. 31, 2025 $ 3,073,609 $ 2,090 4,612,280 23,079 (1,563,840)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Stock compensation activity (in shares)   125,478      
Stock compensation activity 1,611 $ 1 1,610    
Shares repurchased through Share Repurchase Program (in shares)   (6,046,401)      
Shares repurchased through Share Repurchase Program (152,422) $ (60) (152,362)    
Other comprehensive loss (1,727)     (1,727)  
Distributions to common shareholders (58,891)       (58,891)
Net income attributable to common shareholders 11,394       11,394
Adjustment to redeemable noncontrolling interests $ (16,178)   (16,178)    
Balance at end of period (in shares) at Mar. 31, 2026 203,058,977 203,058,977      
Balance at end of period at Mar. 31, 2026 $ 2,857,396 $ 2,031 $ 4,445,350 $ 21,352 $ (1,611,337)
v3.26.1
Consolidated Statements of Cash Flows - KRG Trust - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net income $ 11,732 $ 24,264
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 84,250 99,875
Gain on sales of operating properties, net 0 (91)
Net gains from outlot sales (1,039) 0
Impairment charges 5,888 0
Straight-line rent (1,769) (2,581)
Compensation expense for equity awards 2,722 2,341
Amortization of debt fair value adjustments (1,361) (2,519)
Amortization of in-place lease liabilities (1,495) (3,538)
Equity in loss of unconsolidated joint ventures 2,216 607
Distributions from unconsolidated joint ventures 5,183 280
Changes in assets and liabilities:    
Tenant receivables (3,550) 3,181
Deferred costs and other assets (10,460) (11,859)
Accounts payable, accrued expenses, deferred revenue and other liabilities (42,550) (35,900)
Net cash provided by operating activities 49,767 74,060
Cash flows from investing activities:    
Acquisition of real estate (7,931) (78,254)
Capital expenditures (32,430) (42,119)
Net proceeds from outlot sales 3,191 0
Net proceeds from sales of operating properties 12,263 0
Proceeds from short-term deposits 0 350,000
Distributions from unconsolidated joint ventures 386 162
Capital contributions to unconsolidated joint ventures 0 (1,952)
Net cash (used in) provided by investing activities (24,521) 227,837
Cash flows from financing activities:    
Proceeds from issuance of common shares, net 19 15
Repurchases of common shares upon the vesting of restricted shares (1,450) (1,146)
Shares repurchased through Share Repurchase Program (152,422) 0
Debt and equity issuance costs (155) (66)
Loan proceeds 237,000 103,000
Loan payments (270,332) (420,300)
Distributions paid – common shareholders (90,083) (59,309)
Distributions paid – redeemable noncontrolling interests (2,983) (2,449)
Distributions to noncontrolling interests (86) (62)
Net cash used in financing activities (280,492) (380,317)
Net change in cash, cash equivalents and restricted cash (255,246) (78,420)
Cash, cash equivalents and restricted cash, beginning of period 478,391 133,552
Cash, cash equivalents and restricted cash, end of period 223,145 55,132
Non-cash investing and financing activities:    
Accrued capital expenditures and tenant improvements $ 1,738 $ 95
v3.26.1
Consolidated Balance Sheets - KRG, LP - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Assets:    
Investment properties, at cost $ 7,029,261 $ 7,003,479
Less: accumulated depreciation (1,717,404) (1,656,191)
Net investment properties 5,311,857 5,347,288
Cash and cash equivalents 32,539 36,761
Tenant and other receivables, including accrued straight-line rent of $72,548 and $70,940, respectively 133,290 127,865
Restricted cash and escrow deposits 190,581 441,605
Deferred costs, net 172,805 181,553
Prepaid and other assets 98,560 93,913
Investments in unconsolidated joint ventures 356,555 364,407
Assets associated with investment properties held for sale 54,073 71,105
Total assets 6,350,260 6,664,497
Liabilities:    
Mortgage and other indebtedness, net 2,992,389 3,025,478
Accounts payable and accrued expenses 156,908 221,118
Deferred revenue and other liabilities 207,603 221,813
Liabilities associated with investment properties held for sale 3,754 4,314
Total liabilities 3,360,654 3,472,723
Commitments and contingencies
Limited Partners’ interests in the Operating Partnership 130,306 116,245
Partners’ Equity:    
Common equity, 203,058,977 and 208,979,900 units issued and outstanding at March 31, 2026 and December 31, 2025, respectively 2,031 2,090
Accumulated other comprehensive income 21,352 23,079
Total shareholders’ equity 2,857,396 3,073,609
Noncontrolling interests 1,904 1,920
Total equity 2,859,300 3,075,529
Total liabilities and equity 6,350,260 6,664,497
Kite Realty Group, L.P.    
Assets:    
Investment properties, at cost 7,029,261 7,003,479
Less: accumulated depreciation (1,717,404) (1,656,191)
Net investment properties 5,311,857 5,347,288
Cash and cash equivalents 32,539 36,761
Tenant and other receivables, including accrued straight-line rent of $72,548 and $70,940, respectively 133,290 127,865
Restricted cash and escrow deposits 190,581 441,605
Deferred costs, net 172,805 181,553
Prepaid and other assets 98,560 93,913
Investments in unconsolidated joint ventures 356,555 364,407
Assets associated with investment properties held for sale 54,073 71,105
Total assets 6,350,260 6,664,497
Liabilities:    
Mortgage and other indebtedness, net 2,992,389 3,025,478
Accounts payable and accrued expenses 156,908 221,118
Deferred revenue and other liabilities 207,603 221,813
Liabilities associated with investment properties held for sale 3,754 4,314
Total liabilities 3,360,654 3,472,723
Commitments and contingencies
Limited Partners’ interests in the Operating Partnership 130,306 116,245
Partners’ Equity:    
Common equity, 203,058,977 and 208,979,900 units issued and outstanding at March 31, 2026 and December 31, 2025, respectively 2,836,044 3,050,530
Accumulated other comprehensive income 21,352 23,079
Total shareholders’ equity 2,857,396 3,073,609
Noncontrolling interests 1,904 1,920
Total equity 2,859,300 3,075,529
Total liabilities and equity $ 6,350,260 $ 6,664,497
v3.26.1
Consolidated Balance Sheets (Parenthetical) - KRG, LP - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Accrued straight-line rent $ 72,548 $ 70,940
Common equity, units issued (in shares) 203,058,977 208,979,900
Common equity, units outstanding (in shares) 203,058,977 208,979,900
Kite Realty Group, L.P.    
Accrued straight-line rent $ 72,548 $ 70,940
Common equity, units issued (in shares) 203,058,977 208,979,900
Common equity, units outstanding (in shares) 203,058,977 208,979,900
v3.26.1
Consolidated Statements of Operations and Comprehensive Income - KRG, LP - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Revenue:    
Rental income $ 198,042 $ 219,172
Total revenue 200,697 221,077
Expenses:    
Property operating 31,116 29,826
Real estate taxes 24,824 27,761
General, administrative and other 13,950 12,258
Depreciation and amortization 82,491 98,231
Impairment charges 5,888 0
Total expenses 158,269 168,076
Other (expense) income:    
Interest expense (31,696) (32,954)
Income tax expense of taxable REIT subsidiaries (395) (10)
Gain on sales of operating properties, net 0 91
Net gains from outlot sales 1,039 0
Equity in loss of unconsolidated joint ventures (2,216) (607)
Other income, net 2,572 4,743
Net income 11,732 24,264
Net income attributable to noncontrolling interests (338) (534)
Net income attributable to common shareholders $ 11,394 $ 23,730
Allocation of net income:    
Net income per common unit – basic (in USD per share) $ 0.06 $ 0.11
Net income per common unit – diluted (in USD per share) $ 0.06 $ 0.11
Weighted average common units outstanding – basic (in shares) 205,686,342 219,715,674
Weighted average common units outstanding – diluted (in shares) 206,063,468 219,827,298
Net income $ 11,732 $ 24,264
Change in fair value of derivatives (1,700) (4,280)
Total comprehensive income 10,032 19,984
Comprehensive income attributable to noncontrolling interests (365) (559)
Comprehensive income attributable to the Company 9,667 19,425
Other property-related revenue    
Revenue:    
Other revenue 1,359 1,480
Fee income    
Revenue:    
Other revenue 1,296 425
Kite Realty Group, L.P.    
Revenue:    
Rental income 198,042 219,172
Total revenue 200,697 221,077
Expenses:    
Property operating 31,116 29,826
Real estate taxes 24,824 27,761
General, administrative and other 13,950 12,258
Depreciation and amortization 82,491 98,231
Impairment charges 5,888 0
Total expenses 158,269 168,076
Other (expense) income:    
Interest expense (31,696) (32,954)
Income tax expense of taxable REIT subsidiaries (395) (10)
Gain on sales of operating properties, net 0 91
Net gains from outlot sales 1,039 0
Equity in loss of unconsolidated joint ventures (2,216) (607)
Other income, net 2,572 4,743
Net income 11,732 24,264
Net income attributable to noncontrolling interests (70) (70)
Net income attributable to common shareholders 11,662 24,194
Allocation of net income:    
Limited Partners 268 464
Parent Company $ 11,394 $ 23,730
Net income per common unit – basic (in USD per share) $ 0.06 $ 0.11
Net income per common unit – diluted (in USD per share) $ 0.06 $ 0.11
Weighted average common units outstanding – basic (in shares) 210,742,420 224,214,867
Weighted average common units outstanding – diluted (in shares) 211,119,546 224,326,491
Net income $ 11,732 $ 24,264
Change in fair value of derivatives (1,700) (4,280)
Total comprehensive income 10,032 19,984
Comprehensive income attributable to noncontrolling interests (70) (70)
Comprehensive income attributable to the Company 9,962 19,914
Kite Realty Group, L.P. | Other property-related revenue    
Revenue:    
Other revenue 1,359 1,480
Kite Realty Group, L.P. | Fee income    
Revenue:    
Other revenue $ 1,296 $ 425
v3.26.1
Consolidated Statements of Partners' Equity - 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, 2024   $ 3,312,110 $ 3,275,498 $ 36,612
Increase (Decrease) in Partners' Capital [Roll Forward]        
Stock compensation activity   1,450 1,450  
Other comprehensive loss attributable to Parent Company $ (4,305) (4,305)   (4,305)
Distributions to Parent Company   (59,349) (59,349)  
Net income attributable to Parent Company 23,730 23,730 23,730  
Adjustment to redeemable noncontrolling interests   (5,683) (5,683)  
Partners' capital, balance at end of period at Mar. 31, 2025   3,267,953 3,235,646 32,307
Partners' capital, balance at beginning of period at Dec. 31, 2025   3,073,609 3,050,530 23,079
Increase (Decrease) in Partners' Capital [Roll Forward]        
Stock compensation activity   1,611 1,611  
Units repurchased in connection with Share Repurchase Program (152,422) (152,422) (152,422)  
Other comprehensive loss attributable to Parent Company (1,727) (1,727)   (1,727)
Distributions to Parent Company   (58,891) (58,891)  
Net income attributable to Parent Company $ 11,394 11,394 11,394  
Adjustment to redeemable noncontrolling interests   (16,178) (16,178)  
Partners' capital, balance at end of period at Mar. 31, 2026   $ 2,857,396 $ 2,836,044 $ 21,352
v3.26.1
Consolidated Statements of Cash Flows - KRG, LP - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net income $ 11,732 $ 24,264
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 84,250 99,875
Gain on sales of operating properties, net 0 (91)
Net gains from outlot sales (1,039) 0
Impairment charges 5,888 0
Straight-line rent (1,769) (2,581)
Compensation expense for equity awards 2,722 2,341
Amortization of debt fair value adjustments (1,361) (2,519)
Amortization of in-place lease liabilities (1,495) (3,538)
Equity in loss of unconsolidated joint ventures 2,216 607
Distributions from unconsolidated joint ventures 5,183 280
Changes in assets and liabilities:    
Tenant receivables (3,550) 3,181
Deferred costs and other assets (10,460) (11,859)
Accounts payable, accrued expenses, deferred revenue and other liabilities (42,550) (35,900)
Net cash provided by operating activities 49,767 74,060
Cash flows from investing activities:    
Acquisition of real estate (7,931) (78,254)
Capital expenditures (32,430) (42,119)
Net proceeds from outlot sales 3,191 0
Net proceeds from sales of operating properties 12,263 0
Proceeds from short-term deposits 0 350,000
Distributions from unconsolidated joint ventures 386 162
Capital contributions to unconsolidated joint ventures 0 (1,952)
Net cash (used in) provided by investing activities (24,521) 227,837
Cash flows from financing activities:    
Contributions from the General Partner 19 15
Repurchases of common shares upon the vesting of restricted shares (1,450) (1,146)
Units repurchased in connection with Share Repurchase Program (152,422) 0
Debt and equity issuance costs (155) (66)
Loan proceeds 237,000 103,000
Loan payments (270,332) (420,300)
Distributions paid – common unitholders (90,083) (59,309)
Distributions paid – redeemable noncontrolling interests (2,983) (2,449)
Distributions to noncontrolling interests (86) (62)
Net cash used in financing activities (280,492) (380,317)
Net change in cash, cash equivalents and restricted cash (255,246) (78,420)
Cash, cash equivalents and restricted cash, beginning of period 478,391 133,552
Cash, cash equivalents and restricted cash, end of period 223,145 55,132
Non-cash investing and financing activities:    
Accrued capital expenditures and tenant improvements 1,738 95
Kite Realty Group, L.P.    
Cash flows from operating activities:    
Net income 11,732 24,264
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 84,250 99,875
Gain on sales of operating properties, net 0 (91)
Net gains from outlot sales (1,039) 0
Impairment charges 5,888 0
Straight-line rent (1,769) (2,581)
Compensation expense for equity awards 2,722 2,341
Amortization of debt fair value adjustments (1,361) (2,519)
Amortization of in-place lease liabilities (1,495) (3,538)
Equity in loss of unconsolidated joint ventures 2,216 607
Distributions from unconsolidated joint ventures 5,183 280
Changes in assets and liabilities:    
Tenant receivables (3,550) 3,181
Deferred costs and other assets (10,460) (11,859)
Accounts payable, accrued expenses, deferred revenue and other liabilities (42,550) (35,900)
Net cash provided by operating activities 49,767 74,060
Cash flows from investing activities:    
Acquisition of real estate (7,931) (78,254)
Capital expenditures (32,430) (42,119)
Net proceeds from outlot sales 3,191 0
Net proceeds from sales of operating properties 12,263 0
Proceeds from short-term deposits 0 350,000
Distributions from unconsolidated joint ventures 386 162
Capital contributions to unconsolidated joint ventures 0 (1,952)
Net cash (used in) provided by investing activities (24,521) 227,837
Cash flows from financing activities:    
Contributions from the General Partner 19 15
Repurchases of common shares upon the vesting of restricted shares (1,450) (1,146)
Units repurchased in connection with Share Repurchase Program (152,422) 0
Debt and equity issuance costs (155) (66)
Loan proceeds 237,000 103,000
Loan payments (270,332) (420,300)
Distributions paid – common unitholders (90,083) (59,309)
Distributions paid – redeemable noncontrolling interests (2,983) (2,449)
Distributions to noncontrolling interests (86) (62)
Net cash used in financing activities (280,492) (380,317)
Net change in cash, cash equivalents and restricted cash (255,246) (78,420)
Cash, cash equivalents and restricted cash, beginning of period 478,391 133,552
Cash, cash equivalents and restricted cash, end of period 223,145 55,132
Non-cash investing and financing activities:    
Accrued capital expenditures and tenant improvements $ 1,738 $ 95
v3.26.1
ORGANIZATION AND BASIS OF PRESENTATION
 3 Months Ended
Mar. 31, 2026
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”) is a publicly held real estate investment trust (“REIT”) that, 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, grocery-anchored shopping centers and vibrant mixed-use assets that are primarily 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 acquisition, development, construction, and real estate businesses of its predecessor. We believe the Company qualifies as a REIT under sections 856-860 of the Internal Revenue Code of 1986, as amended (the “Code”).
The Parent Company is the sole general partner of the Operating Partnership and, as of March 31, 2026, owned approximately 97.5% of the common partnership interests in the Operating Partnership (the “General Partner Units”). The remaining 2.5% of the common partnership interests (the “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 (the “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 March 31, 2026 and for the three months ended March 31, 2026 and 2025 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, 2025.
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 those 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 March 31, 2026, the Company’s portfolio consisted of the following:
PropertiesSquare Footage
Operating retail/mixed-use properties159 24,733,159 
Operating retail/mixed-use properties – unconsolidated joint ventures
8 2,146,941 
Total operating retail/mixed-use properties(1)
167 26,880,100 
Standalone office properties(2)
2 413,221 
Development and redevelopment projects:
One Loudoun Expansion— 119,000 
Hamilton Crossing Centre1 — 
Edwards Multiplex – Ontario1 124,614 
(1)Included within the operating retail/mixed-use properties are 10 properties that contain an office component. Excludes one operating retail property classified as held for sale as of March 31, 2026, as well as Eastgate Crossing, a 152,682 square foot multi-tenant retail property in the Durham-Chapel Hill metropolitan statistical area (“MSA”) that was reclassified from our operating portfolio in September 2025 due to significant disruption caused by severe flooding as a result of Tropical Storm Chantal.
(2)Standalone office properties include the Company’s headquarters at 30 South Meridian and the Carillon medical office building.
v3.26.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 3 Months Ended
Mar. 31, 2026
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 March 31, 2026 and December 31, 2025 (in thousands):
March 31, 2026December 31, 2025
Land, buildings and improvements$6,957,812 $6,938,588 
Construction in progress71,449 64,891 
Investment properties, at cost$7,029,261 $7,003,479 
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 months ended March 31, 2026 and 2025 (in thousands):
Three Months Ended March 31,
20262025
Fixed contractual lease payments – operating leases$155,082 $168,839 
Variable lease payments – operating leases41,218 46,290 
Bad debt reserve(1,522)(2,076)
Straight-line rent adjustments2,250 2,787 
Straight-line rent reserve for uncollectibility(481)(206)
Amortization of in-place lease liabilities, net1,495 3,538 
Rental income$198,042 $219,172 
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 the tenant, historical write-off experience, tenant creditworthiness, 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 August 2024, the Company invested $350.0 million in short-term deposits, which earned interest at a weighted average interest rate of 5.05% with a maturity date of February 2025. During the three months ended March 31, 2025, the Company earned $2.5 million of interest income on the short-term 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 March 31, 2026, 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 March 31, 2026, these consolidated VIEs had mortgage debt totaling $106.7 million, which was secured by assets of the VIEs totaling $221.7 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.
Income Taxes and REIT Compliance
Parent Company
The Parent Company has been organized and operated, and it 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 of the Operating Partnership, 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 three months ended March 31, 2026 and 2025 (in thousands):
Three Months Ended March 31,
20262025
Noncontrolling interests balance as of January 1,$1,920 $1,893 
Net income allocable to noncontrolling interests, excluding redeemable noncontrolling interests70 70 
Distributions to noncontrolling interests(86)(62)
Noncontrolling interests balance as of March 31,
$1,904 $1,901 
Noncontrolling Interests – Joint Venture
Prior to the merger with Retail Properties of America, Inc. (“RPAI”) in October 2021, 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 March 31, 2026, 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 outside of permanent equity in the accompanying consolidated balance sheets 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 March 31, 2026 and December 31, 2025, 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 interests. 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 months ended March 31, 2026 and 2025, the weighted average interests of the Parent Company and the limited partners in the Operating Partnership were as follows:
Three Months Ended March 31,
 20262025
Parent Company’s weighted average interest in the Operating Partnership97.6%98.0%
Limited partners’ weighted average interests in the Operating Partnership2.4%2.0%
As of March 31, 2026, the Parent Company’s interest and the limited partners’ redeemable noncontrolling ownership interests in the Operating Partnership were 97.5% and 2.5%, respectively. As of December 31, 2025, the Parent Company’s interest and the limited partners’ redeemable noncontrolling ownership interests in the Operating Partnership were 97.7% and 2.3%, respectively.
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 5,307,761 and 4,849,588 Limited Partner Units outstanding as of March 31, 2026 and December 31, 2025, respectively. The increase in Limited Partner Units outstanding from December 31, 2025 is due to non-cash compensation awards granted to our executive officers in the form of Limited Partner Units.
The redeemable noncontrolling interests in the Operating Partnership for the three months ended March 31, 2026 and 2025 were as follows (in thousands):
Three Months Ended March 31,
20262025
Redeemable noncontrolling interests balance as of January 1,$116,245 $98,074 
Net income allocable to redeemable noncontrolling interests268 464 
Distributions declared to redeemable noncontrolling interests(2,413)(2,627)
Other, net including adjustments to redemption value16,206 5,708 
Total limited partners’ interests in the Operating Partnership balance as of March 31,
$130,306 $101,619 
Fair Value Measurements
We follow the framework established under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 820, Fair Value Measurements and Disclosures, for measuring the 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.
New Accounting Pronouncements
In November 2024, the FASB issued Accounting Standards Update 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. This guidance requires public entities to disclose, in a tabular format, the amounts of certain natural expenses included within relevant expense captions presented on the face of the income statement and provide additional disclosures about selling expenses. The disclosure requirements are effective for annual reporting periods beginning after December 15, 2026 and interim periods within annual reporting periods beginning after December 15, 2027, with early adoption permitted, and may be applied either prospectively or retrospectively. The Company is currently evaluating the impact of this guidance on its consolidated financial statements and related disclosures.
v3.26.1
ACQUISITIONS
 3 Months Ended
Mar. 31, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
ACQUISITIONS ACQUISITIONS
The Company did not acquire any operating properties during the three months ended March 31, 2026. The Company acquired vacant land in the Indianapolis MSA for a purchase price of $7.8 million during the three months ended March 31, 2026.
The Company closed on the following wholly owned asset acquisition during the three months ended March 31, 2025 (dollars in thousands):
DateProperty NameOwnership InterestMSAProperty TypeSquare FootageAcquisition
Price
January 15, 2025Village Commons100%MiamiMulti-tenant retail170,976 $68,400 
The above acquisition was funded using a combination of available cash on hand and borrowings on the Company’s unsecured revolving line of credit. Substantially all of the purchase price was allocated to investment properties.
In March 2025, the Company entered into a joint venture with a leading global investment firm, and on April 28, 2025, the joint venture acquired Legacy West, a 342,011 square foot operating retail property in the Dallas/Ft. Worth MSA (the “Legacy West Joint Venture”), for a gross purchase price of $785.0 million, including the assumption of $304.0 million of debt with an interest rate of 3.80%. The Company owns 52% of the equity in the Legacy West Joint Venture, which is being accounted for pursuant to the equity method of accounting. The Company’s share of the purchase price is $408.2 million, and the acquisition was initially funded with borrowings of $255.0 million on the Company’s unsecured revolving line of credit. Legacy West also contains 443,553 square feet of office space and 782 multifamily units. See Note 5 to the accompanying consolidated financial statements for details of the Legacy West Joint Venture.
v3.26.1
DISPOSITIONS AND IMPAIRMENT CHARGES
 3 Months Ended
Mar. 31, 2026
Discontinued Operations and Disposal Groups [Abstract]  
DISPOSITIONS AND IMPAIRMENT CHARGES DISPOSITIONS AND IMPAIRMENT CHARGES
The Company closed on the following disposition during the three months ended March 31, 2026 (dollars in thousands):
DateProperty NameMSAProperty TypeSquare
Footage		Sales PriceGain (Loss)
March 5, 2026Coram PlazaNew YorkMulti-tenant retail138,385 $12,500 $60 
During the three months ended March 31, 2026, the Company received net proceeds of $3.2 million and recognized a gain of $1.0 million in connection with the sale of the second phase of a land parcel and the rights to develop 14 residential units at the expansion project at One Loudoun Downtown (the “One Loudoun Expansion”) in the Washington, D.C. MSA.
The Company did not sell any properties during the three months ended March 31, 2025.
Investment Properties Held for Sale
City Center, a 362,278 square foot multi-tenant retail property in the New York MSA, remains held for sale as of March 31, 2026. 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, and continues to meet the GAAP criteria for held-for-sale accounting treatment as of March 31, 2026. In addition, the assets and liabilities associated with this property remain separately classified as held for sale in the accompanying consolidated balance sheets as of March 31, 2026 and December 31, 2025.
The following table presents the assets and liabilities associated with City Center, the investment property classified as held for sale as of March 31, 2026 and December 31, 2025. In addition, Coram Plaza was classified as held for sale as of December 31, 2025 (in thousands):
March 31, 2026December 31, 2025
Assets
Investment properties, net$47,177 $64,899 
Tenant and other receivables2,627 2,676 
Restricted cash and escrow deposits25 25 
Deferred costs, net3,497 3,088 
Prepaid and other assets747 417 
Assets associated with investment properties held for sale$54,073 $71,105 
Liabilities
Accounts payable and accrued expenses$761 $811 
Deferred revenue and other liabilities2,993 3,503 
Liabilities associated with investment properties held for sale$3,754 $4,314 
There were no discontinued operations for the three months ended March 31, 2026 and 2025 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.
Valuation of Investment Properties
As of March 31, 2026, in connection with the preparation and review of the first quarter 2026 financial statements and in conjunction with continuing to classify City Center as held for sale, we evaluated City Center for impairment and recorded a $5.9 million impairment charge based upon the terms and conditions of purchase offers received, indicating an estimated carrying value of $50.0 million, excluding working capital accounts, less estimated selling costs of $0.5 million.
v3.26.1
INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES
 3 Months Ended
Mar. 31, 2026
Equity Method Investments and Joint Ventures [Abstract]  
INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES
The following table summarizes the Company’s investments in unconsolidated joint ventures as of March 31, 2026 and December 31, 2025 (dollars in thousands):
Date of InvestmentOwnership InterestInvestment at
Joint VentureMarch 31, 2026December 31, 2025
Embassy Suites at Eddy Street Commons(1)
December 201735%$8,760 $8,797 
Nuveen Portfolio Joint Venture(2)
June 201820%5,601 5,552 
Glendale Multifamily Joint Venture(3)
May 202011.5%27 409 
The Corner – IN Joint Venture(4)
September 202150%114 — 
Legacy West Joint VentureApril 202552%224,605 230,093 
Seed Asset Joint VentureJune 202552%114,948 117,056 
Other investments2,500 2,500 
$356,555 $364,407 
(1)The Company formed a joint venture with an unrelated third party to develop and own an Embassy Suites hotel next to Eddy Street Commons, our operating retail property at the University of Notre Dame. The Company contributed $1.4 million in cash to the joint venture in return for a 35% ownership interest. In 2017, the joint venture entered into a $33.8 million construction loan, which was repaid during the year ended December 31, 2025, of which the Company contributed $10.2 million, representing our 35% share of the debt repaid.
(2)The Company formed a joint venture with Nuveen Real Estate, formerly known as TH Real Estate, and contributed three properties (Livingston Shopping Center, Plaza Volente, and Tamiami Crossing) to the joint venture, valued at $99.8 million in the aggregate, and, after considering third-party debt obtained by the joint venture upon formation, the Company contributed $10.0 million for a 20% noncontrolling ownership interest in the joint venture. The Company is the operating member of the joint venture and earns fees for providing property management and leasing services.
(3)The Company formed a joint venture with an unrelated third party for the planned development of a multifamily project adjacent to Glendale Town Center, our operating retail property in the Indianapolis MSA. The Company contributed land valued at $1.6 million to the joint venture and retained an 11.5% ownership interest in the joint venture. The Company’s partner is the operating member of the joint venture. On January 31, 2024, the joint venture that owned Glendale Center Apartments 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 from the sale of unconsolidated property of $2.3 million and received a $1.6 million distribution upon the disposition of the property during 2024. The Company maintains an investment in the joint venture, which is in the process of winding up its activities and distributing remaining net assets.
(4)The Company formed a joint venture with an unrelated third party for the planned redevelopment of The Corner in the Indianapolis MSA into a mixed-use, multifamily, and retail project. The Company contributed land valued at $4.0 million to the joint venture and retained a 50% ownership interest in the joint venture. During the three months ended March 31, 2025, we completed major development construction activities at The Corner – IN and reclassified the property from active development into our operating portfolio in March 2025.
In March 2025, the Company entered into a joint venture with a leading global investment firm, and on April 28, 2025, the joint venture acquired Legacy West in the Dallas/Fort Worth MSA. See Note 3 to the accompanying consolidated financial statements for details on the acquisition. The Company owns 52% of the equity in the Legacy West Joint Venture. The Company is the operating member of the joint venture, and an affiliate of the Company is the property manager responsible for the day-to-day management of Legacy West. The Company provides leasing, construction, and property management services to the Legacy West Joint Venture, for which it earns fees.
In June 2025, the Company entered into a second joint venture with the global investment firm and contributed three previously wholly owned properties valued at $233.0 million in the aggregate for a 52% noncontrolling interest in the Seed Asset Joint Venture. The Company is the operating member of the joint venture, and an affiliate of the Company is the property manager responsible for the day-to-day management of the three properties. The Company provides leasing, construction, and property management services to the Seed Asset Joint Venture, for which it earns fees.
The Company and our joint venture partners each have substantive participating rights over major decisions that impact the economics and operations of the joint ventures. The Company has the ability to exercise significant influence but does not have financial or operating control over these investments, and as a result, the Company accounts for these investments pursuant to the equity method of accounting. Under the equity method, the net equity investment of the Company is reflected in the accompanying consolidated balance sheets, and the Company’s share of net income or loss from each unconsolidated joint venture is included in the accompanying consolidated statements of operations and comprehensive income. Distributions from these investments that are related to income from operations are included as operating activities, and distributions that are related to capital transactions are included in investing activities in the Company’s consolidated statements of cash flows.
v3.26.1
DEFERRED COSTS AND INTANGIBLES, NET
 3 Months Ended
Mar. 31, 2026
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [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 March 31, 2026 and December 31, 2025, deferred costs consisted of the following (in thousands):
March 31, 2026December 31, 2025
Acquired lease intangible assets$237,653 $260,108 
Deferred leasing costs and other92,791 91,550 
 330,444 351,658 
Less: accumulated amortization(154,142)(167,017)
$176,302 $184,641 
Less: deferred costs associated with investment properties held for sale(3,497)(3,088)
Deferred costs, net$172,805 $181,553 
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):
 Three Months Ended March 31,
20262025
Amortization of deferred leasing costs, lease intangibles and other$10,814 $18,081 
Amortization of above-market lease intangibles$1,224 $1,954 
v3.26.1
DEFERRED REVENUE, INTANGIBLES, NET AND OTHER LIABILITIES
 3 Months Ended
Mar. 31, 2026
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. 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 March 31, 2026 and December 31, 2025, deferred revenue, intangibles, net and other liabilities consisted of the following (in thousands):
March 31, 2026December 31, 2025
Unamortized in-place lease liabilities$107,013 $110,038 
Retainage payables and other8,276 18,479 
Tenant rents received in advance30,567 31,456 
Lease liabilities64,740 65,343 
$210,596 $225,316 
Less: deferred revenue associated with investment properties held for sale(2,993)(3,503)
Deferred revenue and other liabilities$207,603 $221,813 
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 $2.7 million and $9.1 million for the three months ended March 31, 2026 and 2025, respectively.
v3.26.1
MORTGAGE AND OTHER INDEBTEDNESS
 3 Months Ended
Mar. 31, 2026
Debt Disclosure [Abstract]  
MORTGAGE AND OTHER INDEBTEDNESS MORTGAGE AND OTHER INDEBTEDNESS
The following table summarizes the Company’s indebtedness as of March 31, 2026 and December 31, 2025 (in thousands):
March 31, 2026December 31, 2025
Mortgages payable$141,605 $142,937 
Senior unsecured notes2,250,000 2,250,000 
Unsecured term loans550,000 550,000 
Unsecured revolving line of credit53,000 85,000 
2,994,605 3,027,937 
Unamortized discounts and premiums, net17,033 18,394 
Unamortized debt issuance costs, net(19,249)(20,853)
Mortgage and other indebtedness, net$2,992,389 $3,025,478 
Consolidated indebtedness, including weighted average interest rates and weighted average maturities as of March 31, 2026, considering the impact of interest rate swaps, is summarized below (dollars in thousands):
Amount
Outstanding		RatioWeighted Average
Interest Rate		Weighted Average Years
to Maturity
Fixed rate debt(1)
$2,530,005 84%4.28%4.3
Variable rate debt464,600 16%4.58%2.2
Debt discounts, premiums and issuance costs, net(2,216)N/AN/AN/A
Mortgage and other indebtedness, net$2,992,389 100%4.33%4.0
(1)Fixed rate debt includes the portion of variable rate debt that has been hedged by interest rate swaps. As of March 31, 2026, $150.0 million in variable rate debt is hedged to a fixed rate through July 17, 2026.
Mortgages Payable 
The following table summarizes the Company’s mortgages payable (dollars in thousands):
March 31, 2026December 31, 2025
BalanceWeighted Average
Interest Rate		Weighted Average Years
to Maturity		BalanceWeighted Average
Interest Rate		Weighted Average Years
to Maturity
Fixed rate mortgages payable(1)
$130,005 5.12%5.9$130,737 5.11%6.2
Variable rate mortgage payable(2)
11,600 5.81%0.312,200 5.84%0.6
Total mortgages payable$141,605 $142,937 
(1)The fixed rate mortgages had interest rates ranging from 3.75% to 5.73% as of March 31, 2026 and December 31, 2025.
(2)The interest rate on the variable rate mortgage is based on the Secured Overnight Financing Rate (“SOFR”) plus 215 basis points. The one-month SOFR rate was 3.66% and 3.69% as of March 31, 2026 and December 31, 2025, respectively.
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 three months ended March 31, 2026, we made scheduled principal payments of $1.3 million related to amortizing loans.
Unsecured Notes
The following table summarizes the Company’s senior unsecured notes and exchangeable senior notes (dollars in thousands):
March 31, 2026December 31, 2025
Maturity DateBalanceInterest RateBalanceInterest Rate
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, 2026300,000 4.00%300,000 4.00%
Senior exchangeable notes – 0.75% due 2027
April 1, 2027175,000 0.75%175,000 0.75%
Senior notes – 4.57% due 2027
September 10, 202775,000 4.57%75,000 4.57%
Senior notes – 4.24% due 2028
December 28, 2028100,000 4.24%100,000 4.24%
Senior notes – 4.82% due 2029
June 28, 2029100,000 4.82%100,000 4.82%
Senior notes – 4.75% due 2030
September 15, 2030400,000 4.75%400,000 4.75%
Senior notes – 4.95% due 2031
December 15, 2031350,000 4.95%350,000 4.95%
Senior notes – 5.20% due 2032
August 15, 2032300,000 5.20%300,000 5.20%
Senior notes – 5.50% due 2034(1)
March 1, 2034350,000 4.60%350,000 4.60%
Total senior unsecured notes$2,250,000 $2,250,000 
(1)The coupon rate is 5.50%; however, as a result of hedging activities, the Company’s interest rate is 4.60%.
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):
March 31, 2026December 31, 2025
Maturity DateBalanceInterest RateBalanceInterest Rate
Unsecured term loan due 2027 – variable rate(1)
October 24, 2027$250,000 4.53%$250,000 4.72%
Unsecured term loan due 2029 – fixed rate(2)
July 29, 2029300,000 3.52%300,000 3.54%
Total unsecured term loans$550,000 $550,000 
Unsecured credit facility revolving line of credit –
variable rate(3)
October 3, 2028$53,000 4.73%$85,000 4.92%
(1)The maturity date of the term loan may be extended by one one-year period at the Operating Partnership’s election, subject to certain conditions.
(2)$150,000 of the $300,000 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 0.85% as of March 31, 2026 and December 31, 2025. The interest rate shown is the weighted average rate as of March 31, 2026.
(3)The revolving line of credit can be extended for either one one-year period or up to two six-month periods at the Company’s 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 October 2024, the Operating Partnership, as borrower, 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 “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 that matures in July 2029 (the “$300M Term Loan”). Under the Credit Agreement, the Operating Partnership has the option, subject to certain customary conditions, to increase the Revolving Facility and/or incur additional term loans up to a maximum aggregate amount not to exceed $2.0 billion. The Revolving Facility matures on October 3, 2028, which maturity date may be extended for either one one-year period or up to two six-month periods at the Operating Partnership’s option, subject to certain conditions. The Revolving Facility had an outstanding balance of $53.0 million and $85.0 million as of March 31, 2026 and December 31, 2025, respectively.
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 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 March 31, 2026, 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. As specified in the Credit Agreement, in the event that the Company so elects to convert to the ratings-based pricing grid, 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”). The Credit Agreement also 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. The greenhouse gas emission reduction targets have not been achieved as of March 31, 2026.
The following table summarizes the key terms of the Revolving Facility as of March 31, 2026 (dollars in thousands):
Leverage-Based PricingInvestment-Grade Pricing
Credit AgreementMaturity DateExtension OptionsExtension FeeCredit SpreadFacility FeeCredit SpreadFacility Fee
$1,100,000 unsecured revolving line of credit
October 3, 2028
1 one-year or 2 six-month
0.075%
1.05%–1.50%
0.15%–0.30%
0.725%–1.40%
0.125%–0.30%
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 March 31, 2026, we were in compliance with all such covenants.
As of March 31, 2026, we had outstanding letters of credit totaling $4.2 million with no amounts advanced against these instruments.
Unsecured Term Loans
As of March 31, 2026, the Operating Partnership has the following unsecured term loans: (i) a $250.0 million unsecured term loan that matures in October 2027 (the “$250M Term Loan”) and (ii) the $300M Term Loan that matures in July 2029, both of which bear interest at a rate of SOFR plus a credit spread based on a ratings-based pricing grid. The loan agreements related to the $250M Term Loan and the $300M Term Loan include the same Leverage Toggle for determining pricing and sustainability-linked pricing provisions as described above for the Credit Agreement. The greenhouse gas emission reduction targets have not been achieved as of March 31, 2026.
The following table summarizes the key terms of the unsecured term loans as of March 31, 2026 (dollars in thousands):
Unsecured Term Loans
Maturity DateInvestment-Grade Pricing
Credit Spread
$250,000 unsecured term loan due 2027
October 24, 2027(1)
0.75% – 1.60%
$300,000 unsecured term loan due 2029
July 29, 2029
0.75% – 1.60%
(1)The maturity date may be extended by one one-year period at the Operating Partnership’s option, subject to certain conditions.
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.
Debt Issuance Costs
Debt issuance costs are amortized over the terms of the respective loans. 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):
Three Months Ended March 31,
20262025
Amortization of debt issuance costs$1,759 $1,644 
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 loans. 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):
Three Months Ended March 31,
20262025
Amortization of debt discounts, premiums and hedge instruments$1,597 $2,756 
In addition, the estimated amounts of the reduction to interest expense as of March 31, 2026 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):
April 2026 through December 2026$4,187 
20274,709 
20284,699 
20293,773 
20302,031 
Thereafter(2,084)
Total unamortized debt discounts, premiums and hedge instruments$17,315 
The following table reconciles total unamortized debt discounts, premiums and hedge instruments as of March 31, 2026 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$17,033 
Unamortized hedge instruments282 
Total unamortized debt discounts, premiums and hedge instruments17,315 
Unamortized hedge instruments (included in accumulated other comprehensive income)(282)
Unamortized discounts and premiums, net$17,033 
Fair Value of Fixed and Variable Rate Debt
As of March 31, 2026, the estimated fair value of fixed rate debt was $2.4 billion compared to the book value of $2.4 billion. The fair value was estimated using Level 2 and Level 3 inputs with cash flows discounted at current borrowing rates for similar instruments, which ranged from 4.85% to 6.63%. As of March 31, 2026, the estimated fair value of variable rate debt was $615.0 million compared to the book value of $614.6 million. The fair value was estimated using Level 2 and Level 3 inputs with cash flows discounted at a current borrowing rate for similar instruments, which ranged from 4.51% to 5.81%.
v3.26.1
DERIVATIVE INSTRUMENTS, HEDGING ACTIVITIES AND OTHER COMPREHENSIVE INCOME
 3 Months Ended
Mar. 31, 2026
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 March 31, 2026 and December 31, 2025 (dollars in thousands):
Fair Value Assets (Liabilities)(1)
Type of HedgeNumber of InstrumentsAggregate NotionalReference RateInterest RateEffective DateMaturity DateMarch 31, 2026December 31, 2025
Cash Flow(2)
Three$150,000 SOFR1.68%8/15/20227/17/2026$877 $1,503 
(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)These interest rate swaps were assigned to the Company’s $300M Term Loan effective August 1, 2025.
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 March 31, 2026 and December 31, 2025, 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 are 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 $1.6 million and $2.6 million was reclassified as a reduction to interest expense during the three months ended March 31, 2026 and 2025, respectively. As interest payments on our derivatives are made over the next 12 months, we estimate the decrease to interest expense to be approximately $4.3 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.
v3.26.1
SEGMENT REPORTING
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
SEGMENT REPORTING SEGMENT REPORTING
An operating segment is a component of a public entity that engages in business activities from which it may earn revenues and incur expenses and has discrete financial information available that is regularly reviewed by the chief operating decision maker (the “CODM”).
The Company’s primary business is the ownership and operation 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. We derive our revenue primarily from the collection of contractual rents and reimbursement payments from tenants under existing lease agreements at each of our properties. The Company’s CODM, which is its Chief Executive Officer, regularly reviews operating and financial information for each property on an individual basis; therefore, each property represents an individual operating segment. The CODM does not distinguish or group our operations on a geographical or any other basis for purposes of measuring performance and allocating capital. Across our properties, the financial performance, revenue generating activities, and customer base is determined to be economically similar; therefore, all operating segments have been aggregated into one reportable segment.
The CODM measures and evaluates the financial performance of our portfolio of properties and decides how resources are allocated based on net operating income. The CODM uses net operating income to evaluate income generated from each property in deciding whether to reinvest profits for recurring capital expenditures or into other parts of the business, such as for acquisitions, developments, scheduled interest and principal payments on our indebtedness, or to pay dividends. Net operating income is also used to monitor budget versus actual results in assessing the performance of our properties. The CODM does not regularly review total assets for our single reportable segment as total assets are not used to assess performance or allocate resources.
The following table presents information on the Company’s reported segment revenue, net operating income, and significant segment expenses for the three months ended March 31, 2026 and 2025 that are provided to the CODM and included within the Company’s single reportable operating segment measure of profit or loss:
Three Months Ended March 31,
20262025
Revenue:
Minimum rent$153,150 $173,988 
Tenant reimbursements44,794 46,213 
Bad debt reserve(1,522)(2,076)
Other property-related revenue798 955 
Overage rent1,619 1,048 
Total revenue198,839 220,128 
Expenses:
Property operating – recoverable26,748 25,798 
Property operating – non-recoverable3,989 3,661 
Real estate taxes24,641 27,604 
Total expenses55,378 57,063 
Net operating income143,461 163,065 
Other income (expense):
Net gains from outlot sales1,039 — 
Other general and administrative expenses(13,950)(12,258)
Fee income1,296 425 
Impairment charges(5,888)— 
Depreciation and amortization(82,491)(98,231)
Interest expense(31,696)(32,954)
Equity in loss of unconsolidated subsidiaries(2,216)(607)
Income tax expense of taxable REIT subsidiaries(395)(10)
Other income, net2,572 4,743 
Gain on sales of operating properties, net— 91 
Net income11,732 24,264 
Net income attributable to noncontrolling interests(338)(534)
Net income attributable to common shareholders$11,394 $23,730 
v3.26.1
SHAREHOLDERS’ EQUITY
 3 Months Ended
Mar. 31, 2026
Stockholders' Equity Note [Abstract]  
SHAREHOLDERS’ EQUITY SHAREHOLDERS’ EQUITY
Distributions
Our Board of Trustees declared a cash distribution of $0.29 per common share and Common Unit for the first quarter of 2026. This distribution was paid on April 16, 2026 to common shareholders and common unitholders of record as of April 9, 2026.
In January 2026, in addition to the payment of the fourth quarter 2025 distribution of $0.29 per common share and Common Unit, to meet certain REIT distribution requirements, we paid a special cash distribution of $0.145 per common share and Common Unit to common shareholders and common unitholders of record as of January 9, 2026, totaling $30.7 million.
For the three months ended March 31, 2025, we declared a cash distribution of $0.27 per common share and Common Unit.
Share Repurchase Program
In February 2021, our Board of Trustees approved a share repurchase program under which the Company may repurchase, from time to time, up to an aggregate of $150.0 million of our common shares. In April 2022, our Board of Trustees increased the size of the program from $150.0 million to $300.0 million of our common shares, and in February 2026, further increased
the size of the program from $300.0 million to $600.0 million of our 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 November 2025, the Company extended the Share Repurchase Program for an additional year to February 28, 2027, if not terminated or extended prior to that date. During the three months ended March 31, 2026, the Company repurchased approximately 6.0 million common shares at an average price per share of $25.19 for a total of $152.3 million. As of March 31, 2026, $200.0 million remained available for repurchases of common shares under the Company’s Share Repurchase Program. The Company did not repurchase any shares during the three months ended March 31, 2025.
v3.26.1
EARNINGS PER SHARE OR UNIT
 3 Months Ended
Mar. 31, 2026
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 weighted 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) Appreciation Only Long-Term Incentive Plan Units; (iv) deferred common share units, which may be credited to the personal accounts of members of the Board of 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 5.1 million and 4.5 million for the three months ended March 31, 2026 and 2025, respectively.
The following table summarizes the calculation of basic and diluted earnings per share for the Parent Company for the three months ended March 31, 2026 and 2025. 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 March 31,
20262025
Numerator:
Net income attributable to common shareholders – basic and diluted$11,394 $23,730 
Denominator:
Weighted average common shares outstanding – basic205,686,342 219,715,674 
Effect of dilutive securities:
AO LTIP Units— 40,303 
Deferred common share units89,013 71,321 
Exchangeable Notes288,113 — 
Weighted average common shares outstanding – diluted206,063,468 219,827,298 
Net income per common share – basic$0.06 $0.11 
Net income per common share – diluted$0.06 $0.11 
v3.26.1
COMMITMENTS AND CONTINGENCIES
 3 Months Ended
Mar. 31, 2026
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 that are 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 2021, we provided repayment and completion guarantees on loans totaling $66.2 million associated with the development of The Corner mixed-use project in the Indianapolis MSA. As of March 31, 2026, the outstanding balance of the loans was $69.7 million, of which our share was $34.9 million.
As of March 31, 2026, we had outstanding letters of credit totaling $4.2 million with no amounts advanced against these instruments.
In July 2025, Eastgate Crossing, a 152,682 square foot multi-tenant retail property in the Durham-Chapel Hill MSA, experienced severe flooding as a result of Tropical Storm Chantal. During the three months ended March 31, 2026, the Company completed all remediation and reconstruction activities. The Company has third-party insurance coverage, including business interruption coverage, related to this event, and based on the coverage available and reimbursements received or expected, we do not believe the flood had a material adverse effect on our consolidated results of operations or financial condition.
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.
v3.26.1
SUBSEQUENT EVENTS
 3 Months Ended
Mar. 31, 2026
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS SUBSEQUENT EVENTS
In connection with the preparation of our financial statements, we have evaluated events and transactions that occurred subsequent to March 31, 2026 for recognition and/or disclosure purposes. Based on this evaluation, there were no subsequent events from March 31, 2026 through the date the financial statements were issued warranting recognition and/or disclosure.
v3.26.1
Insider Trading Arrangements
 3 Months Ended
Mar. 31, 2026
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
v3.26.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
 3 Months Ended
Mar. 31, 2026
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 March 31, 2026, 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 March 31, 2026, these consolidated VIEs had mortgage debt totaling $106.7 million, which was secured by assets of the VIEs totaling $221.7 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.
Income Taxes and REIT Compliance
Income Taxes and REIT Compliance
Parent Company
The Parent Company has been organized and operated, and it 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 of the Operating Partnership, 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 merger with Retail Properties of America, Inc. (“RPAI”) in October 2021, 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 March 31, 2026, 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 outside of permanent equity in the accompanying consolidated balance sheets 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 March 31, 2026 and December 31, 2025, 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 interests. 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 March 31, 2026, the Parent Company’s interest and the limited partners’ redeemable noncontrolling ownership interests in the Operating Partnership were 97.5% and 2.5%, respectively. As of December 31, 2025, the Parent Company’s interest and the limited partners’ redeemable noncontrolling ownership interests in the Operating Partnership were 97.7% and 2.3%, respectively.
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 5,307,761 and 4,849,588 Limited Partner Units outstanding as of March 31, 2026 and December 31, 2025, respectively. The increase in Limited Partner Units outstanding from December 31, 2025 is due to non-cash compensation awards granted to our executive officers in the form of Limited Partner Units.
Fair Value Measurements
Fair Value Measurements
We follow the framework established under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 820, Fair Value Measurements and Disclosures, for measuring the 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.
New Accounting Pronouncements
New Accounting Pronouncements
In November 2024, the FASB issued Accounting Standards Update 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. This guidance requires public entities to disclose, in a tabular format, the amounts of certain natural expenses included within relevant expense captions presented on the face of the income statement and provide additional disclosures about selling expenses. The disclosure requirements are effective for annual reporting periods beginning after December 15, 2026 and interim periods within annual reporting periods beginning after December 15, 2027, with early adoption permitted, and may be applied either prospectively or retrospectively. The Company is currently evaluating the impact of this guidance on its consolidated financial statements and related disclosures.
v3.26.1
ORGANIZATION AND BASIS OF PRESENTATION (Tables)
 3 Months Ended
Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Real Estate Properties
As of March 31, 2026, the Company’s portfolio consisted of the following:
PropertiesSquare Footage
Operating retail/mixed-use properties159 24,733,159 
Operating retail/mixed-use properties – unconsolidated joint ventures
8 2,146,941 
Total operating retail/mixed-use properties(1)
167 26,880,100 
Standalone office properties(2)
2 413,221 
Development and redevelopment projects:
One Loudoun Expansion— 119,000 
Hamilton Crossing Centre1 — 
Edwards Multiplex – Ontario1 124,614 
(1)Included within the operating retail/mixed-use properties are 10 properties that contain an office component. Excludes one operating retail property classified as held for sale as of March 31, 2026, as well as Eastgate Crossing, a 152,682 square foot multi-tenant retail property in the Durham-Chapel Hill metropolitan statistical area (“MSA”) that was reclassified from our operating portfolio in September 2025 due to significant disruption caused by severe flooding as a result of Tropical Storm Chantal.
(2)Standalone office properties include the Company’s headquarters at 30 South Meridian and the Carillon medical office building.
The following table summarizes the composition of the Company’s investment properties as of March 31, 2026 and December 31, 2025 (in thousands):
March 31, 2026December 31, 2025
Land, buildings and improvements$6,957,812 $6,938,588 
Construction in progress71,449 64,891 
Investment properties, at cost$7,029,261 $7,003,479 
v3.26.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 3 Months Ended
Mar. 31, 2026
Accounting Policies [Abstract]  
Schedule of Investment Properties
As of March 31, 2026, the Company’s portfolio consisted of the following:
PropertiesSquare Footage
Operating retail/mixed-use properties159 24,733,159 
Operating retail/mixed-use properties – unconsolidated joint ventures
8 2,146,941 
Total operating retail/mixed-use properties(1)
167 26,880,100 
Standalone office properties(2)
2 413,221 
Development and redevelopment projects:
One Loudoun Expansion— 119,000 
Hamilton Crossing Centre1 — 
Edwards Multiplex – Ontario1 124,614 
(1)Included within the operating retail/mixed-use properties are 10 properties that contain an office component. Excludes one operating retail property classified as held for sale as of March 31, 2026, as well as Eastgate Crossing, a 152,682 square foot multi-tenant retail property in the Durham-Chapel Hill metropolitan statistical area (“MSA”) that was reclassified from our operating portfolio in September 2025 due to significant disruption caused by severe flooding as a result of Tropical Storm Chantal.
(2)Standalone office properties include the Company’s headquarters at 30 South Meridian and the Carillon medical office building.
The following table summarizes the composition of the Company’s investment properties as of March 31, 2026 and December 31, 2025 (in thousands):
March 31, 2026December 31, 2025
Land, buildings and improvements$6,957,812 $6,938,588 
Construction in progress71,449 64,891 
Investment properties, at cost$7,029,261 $7,003,479 
Schedule of Rental Income
Rental income related to the Company’s operating leases is comprised of the following for the three months ended March 31, 2026 and 2025 (in thousands):
Three Months Ended March 31,
20262025
Fixed contractual lease payments – operating leases$155,082 $168,839 
Variable lease payments – operating leases41,218 46,290 
Bad debt reserve(1,522)(2,076)
Straight-line rent adjustments2,250 2,787 
Straight-line rent reserve for uncollectibility(481)(206)
Amortization of in-place lease liabilities, net1,495 3,538 
Rental income$198,042 $219,172 
Schedule of Noncontrolling Interests The following table summarizes the non-redeemable noncontrolling interests in consolidated properties for the three months ended March 31, 2026 and 2025 (in thousands):
Three Months Ended March 31,
20262025
Noncontrolling interests balance as of January 1,$1,920 $1,893 
Net income allocable to noncontrolling interests, excluding redeemable noncontrolling interests70 70 
Distributions to noncontrolling interests(86)(62)
Noncontrolling interests balance as of March 31,
$1,904 $1,901 
Schedule of Weighted Average Interests of Parent and Limited Partners in Operating Partnership For the three months ended March 31, 2026 and 2025, the weighted average interests of the Parent Company and the limited partners in the Operating Partnership were as follows:
Three Months Ended March 31,
 20262025
Parent Company’s weighted average interest in the Operating Partnership97.6%98.0%
Limited partners’ weighted average interests in the Operating Partnership2.4%2.0%
Schedule of Redeemable Noncontrolling Interests
The redeemable noncontrolling interests in the Operating Partnership for the three months ended March 31, 2026 and 2025 were as follows (in thousands):
Three Months Ended March 31,
20262025
Redeemable noncontrolling interests balance as of January 1,$116,245 $98,074 
Net income allocable to redeemable noncontrolling interests268 464 
Distributions declared to redeemable noncontrolling interests(2,413)(2,627)
Other, net including adjustments to redemption value16,206 5,708 
Total limited partners’ interests in the Operating Partnership balance as of March 31,
$130,306 $101,619 
v3.26.1
ACQUISITIONS (Tables)
 3 Months Ended
Mar. 31, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of Asset Acquisitions
The Company closed on the following wholly owned asset acquisition during the three months ended March 31, 2025 (dollars in thousands):
DateProperty NameOwnership InterestMSAProperty TypeSquare FootageAcquisition
Price
January 15, 2025Village Commons100%MiamiMulti-tenant retail170,976 $68,400 
v3.26.1
DISPOSITIONS AND IMPAIRMENT CHARGES (Tables)
 3 Months Ended
Mar. 31, 2026
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Property Dispositions
The Company closed on the following disposition during the three months ended March 31, 2026 (dollars in thousands):
DateProperty NameMSAProperty TypeSquare
Footage		Sales PriceGain (Loss)
March 5, 2026Coram PlazaNew YorkMulti-tenant retail138,385 $12,500 $60 
The following table presents the assets and liabilities associated with City Center, the investment property classified as held for sale as of March 31, 2026 and December 31, 2025. In addition, Coram Plaza was classified as held for sale as of December 31, 2025 (in thousands):
March 31, 2026December 31, 2025
Assets
Investment properties, net$47,177 $64,899 
Tenant and other receivables2,627 2,676 
Restricted cash and escrow deposits25 25 
Deferred costs, net3,497 3,088 
Prepaid and other assets747 417 
Assets associated with investment properties held for sale$54,073 $71,105 
Liabilities
Accounts payable and accrued expenses$761 $811 
Deferred revenue and other liabilities2,993 3,503 
Liabilities associated with investment properties held for sale$3,754 $4,314 
v3.26.1
INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES (Tables)
 3 Months Ended
Mar. 31, 2026
Equity Method Investments and Joint Ventures [Abstract]  
Schedule of Investments in Unconsolidated Joint Ventures
The following table summarizes the Company’s investments in unconsolidated joint ventures as of March 31, 2026 and December 31, 2025 (dollars in thousands):
Date of InvestmentOwnership InterestInvestment at
Joint VentureMarch 31, 2026December 31, 2025
Embassy Suites at Eddy Street Commons(1)
December 201735%$8,760 $8,797 
Nuveen Portfolio Joint Venture(2)
June 201820%5,601 5,552 
Glendale Multifamily Joint Venture(3)
May 202011.5%27 409 
The Corner – IN Joint Venture(4)
September 202150%114 — 
Legacy West Joint VentureApril 202552%224,605 230,093 
Seed Asset Joint VentureJune 202552%114,948 117,056 
Other investments2,500 2,500 
$356,555 $364,407 
(1)The Company formed a joint venture with an unrelated third party to develop and own an Embassy Suites hotel next to Eddy Street Commons, our operating retail property at the University of Notre Dame. The Company contributed $1.4 million in cash to the joint venture in return for a 35% ownership interest. In 2017, the joint venture entered into a $33.8 million construction loan, which was repaid during the year ended December 31, 2025, of which the Company contributed $10.2 million, representing our 35% share of the debt repaid.
(2)The Company formed a joint venture with Nuveen Real Estate, formerly known as TH Real Estate, and contributed three properties (Livingston Shopping Center, Plaza Volente, and Tamiami Crossing) to the joint venture, valued at $99.8 million in the aggregate, and, after considering third-party debt obtained by the joint venture upon formation, the Company contributed $10.0 million for a 20% noncontrolling ownership interest in the joint venture. The Company is the operating member of the joint venture and earns fees for providing property management and leasing services.
(3)The Company formed a joint venture with an unrelated third party for the planned development of a multifamily project adjacent to Glendale Town Center, our operating retail property in the Indianapolis MSA. The Company contributed land valued at $1.6 million to the joint venture and retained an 11.5% ownership interest in the joint venture. The Company’s partner is the operating member of the joint venture. On January 31, 2024, the joint venture that owned Glendale Center Apartments 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 from the sale of unconsolidated property of $2.3 million and received a $1.6 million distribution upon the disposition of the property during 2024. The Company maintains an investment in the joint venture, which is in the process of winding up its activities and distributing remaining net assets.
(4)The Company formed a joint venture with an unrelated third party for the planned redevelopment of The Corner in the Indianapolis MSA into a mixed-use, multifamily, and retail project. The Company contributed land valued at $4.0 million to the joint venture and retained a 50% ownership interest in the joint venture. During the three months ended March 31, 2025, we completed major development construction activities at The Corner – IN and reclassified the property from active development into our operating portfolio in March 2025.
v3.26.1
DEFERRED COSTS AND INTANGIBLES, NET (Tables)
 3 Months Ended
Mar. 31, 2026
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Schedule of Deferred Costs As of March 31, 2026 and December 31, 2025, deferred costs consisted of the following (in thousands):
March 31, 2026December 31, 2025
Acquired lease intangible assets$237,653 $260,108 
Deferred leasing costs and other92,791 91,550 
 330,444 351,658 
Less: accumulated amortization(154,142)(167,017)
$176,302 $184,641 
Less: deferred costs associated with investment properties held for sale(3,497)(3,088)
Deferred costs, net$172,805 $181,553 
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):
 Three Months Ended March 31,
20262025
Amortization of deferred leasing costs, lease intangibles and other$10,814 $18,081 
Amortization of above-market lease intangibles$1,224 $1,954 
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):
Three Months Ended March 31,
20262025
Amortization of debt issuance costs$1,759 $1,644 
v3.26.1
DEFERRED REVENUE, INTANGIBLES, NET AND OTHER LIABILITIES (Tables)
 3 Months Ended
Mar. 31, 2026
Other Liabilities Disclosure [Abstract]  
Schedule of Deferred Revenue, Intangibles and Other Liabilities
As of March 31, 2026 and December 31, 2025, deferred revenue, intangibles, net and other liabilities consisted of the following (in thousands):
March 31, 2026December 31, 2025
Unamortized in-place lease liabilities$107,013 $110,038 
Retainage payables and other8,276 18,479 
Tenant rents received in advance30,567 31,456 
Lease liabilities64,740 65,343 
$210,596 $225,316 
Less: deferred revenue associated with investment properties held for sale(2,993)(3,503)
Deferred revenue and other liabilities$207,603 $221,813 
v3.26.1
MORTGAGE AND OTHER INDEBTEDNESS (Tables)
 3 Months Ended
Mar. 31, 2026
Debt Disclosure [Abstract]  
Schedules of Indebtedness
The following table summarizes the Company’s indebtedness as of March 31, 2026 and December 31, 2025 (in thousands):
March 31, 2026December 31, 2025
Mortgages payable$141,605 $142,937 
Senior unsecured notes2,250,000 2,250,000 
Unsecured term loans550,000 550,000 
Unsecured revolving line of credit53,000 85,000 
2,994,605 3,027,937 
Unamortized discounts and premiums, net17,033 18,394 
Unamortized debt issuance costs, net(19,249)(20,853)
Mortgage and other indebtedness, net$2,992,389 $3,025,478 
The following table summarizes the Company’s senior unsecured notes and exchangeable senior notes (dollars in thousands):
March 31, 2026December 31, 2025
Maturity DateBalanceInterest RateBalanceInterest Rate
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, 2026300,000 4.00%300,000 4.00%
Senior exchangeable notes – 0.75% due 2027
April 1, 2027175,000 0.75%175,000 0.75%
Senior notes – 4.57% due 2027
September 10, 202775,000 4.57%75,000 4.57%
Senior notes – 4.24% due 2028
December 28, 2028100,000 4.24%100,000 4.24%
Senior notes – 4.82% due 2029
June 28, 2029100,000 4.82%100,000 4.82%
Senior notes – 4.75% due 2030
September 15, 2030400,000 4.75%400,000 4.75%
Senior notes – 4.95% due 2031
December 15, 2031350,000 4.95%350,000 4.95%
Senior notes – 5.20% due 2032
August 15, 2032300,000 5.20%300,000 5.20%
Senior notes – 5.50% due 2034(1)
March 1, 2034350,000 4.60%350,000 4.60%
Total senior unsecured notes$2,250,000 $2,250,000 
(1)The coupon rate 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):
March 31, 2026December 31, 2025
Maturity DateBalanceInterest RateBalanceInterest Rate
Unsecured term loan due 2027 – variable rate(1)
October 24, 2027$250,000 4.53%$250,000 4.72%
Unsecured term loan due 2029 – fixed rate(2)
July 29, 2029300,000 3.52%300,000 3.54%
Total unsecured term loans$550,000 $550,000 
Unsecured credit facility revolving line of credit –
variable rate(3)
October 3, 2028$53,000 4.73%$85,000 4.92%
(1)The maturity date of the term loan may be extended by one one-year period at the Operating Partnership’s election, subject to certain conditions.
(2)$150,000 of the $300,000 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 0.85% as of March 31, 2026 and December 31, 2025. The interest rate shown is the weighted average rate as of March 31, 2026.
(3)The revolving line of credit can be extended for either one one-year period or up to two six-month periods at the Company’s 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 March 31, 2026, considering the impact of interest rate swaps, is summarized below (dollars in thousands):
Amount
Outstanding		RatioWeighted Average
Interest Rate		Weighted Average Years
to Maturity
Fixed rate debt(1)
$2,530,005 84%4.28%4.3
Variable rate debt464,600 16%4.58%2.2
Debt discounts, premiums and issuance costs, net(2,216)N/AN/AN/A
Mortgage and other indebtedness, net$2,992,389 100%4.33%4.0
(1)Fixed rate debt includes the portion of variable rate debt that has been hedged by interest rate swaps. As of March 31, 2026, $150.0 million in variable rate debt is hedged to a fixed rate through July 17, 2026.
Schedule of Mortgage Payable
The following table summarizes the Company’s mortgages payable (dollars in thousands):
March 31, 2026December 31, 2025
BalanceWeighted Average
Interest Rate		Weighted Average Years
to Maturity		BalanceWeighted Average
Interest Rate		Weighted Average Years
to Maturity
Fixed rate mortgages payable(1)
$130,005 5.12%5.9$130,737 5.11%6.2
Variable rate mortgage payable(2)
11,600 5.81%0.312,200 5.84%0.6
Total mortgages payable$141,605 $142,937 
(1)The fixed rate mortgages had interest rates ranging from 3.75% to 5.73% as of March 31, 2026 and December 31, 2025.
(2)The interest rate on the variable rate mortgage is based on the Secured Overnight Financing Rate (“SOFR”) plus 215 basis points. The one-month SOFR rate was 3.66% and 3.69% as of March 31, 2026 and December 31, 2025, respectively.
Schedule of Key Terms of Revolving Facility and Term Loans
The following table summarizes the key terms of the Revolving Facility as of March 31, 2026 (dollars in thousands):
Leverage-Based PricingInvestment-Grade Pricing
Credit AgreementMaturity DateExtension OptionsExtension FeeCredit SpreadFacility FeeCredit SpreadFacility Fee
$1,100,000 unsecured revolving line of credit
October 3, 2028
1 one-year or 2 six-month
0.075%
1.05%–1.50%
0.15%–0.30%
0.725%–1.40%
0.125%–0.30%
The following table summarizes the key terms of the unsecured term loans as of March 31, 2026 (dollars in thousands):
Unsecured Term Loans
Maturity DateInvestment-Grade Pricing
Credit Spread
$250,000 unsecured term loan due 2027
October 24, 2027(1)
0.75% – 1.60%
$300,000 unsecured term loan due 2029
July 29, 2029
0.75% – 1.60%
(1)The maturity date may be extended by one one-year period 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):
 Three Months Ended March 31,
20262025
Amortization of deferred leasing costs, lease intangibles and other$10,814 $18,081 
Amortization of above-market lease intangibles$1,224 $1,954 
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):
Three Months Ended March 31,
20262025
Amortization of debt issuance costs$1,759 $1,644 
Schedule of Amortization of Debt Discounts, Premiums and Hedge Instruments 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):
Three Months Ended March 31,
20262025
Amortization of debt discounts, premiums and hedge instruments$1,597 $2,756 
Schedule of Debt Discounts, Premiums and Hedge Instruments Amortization Maturity
In addition, the estimated amounts of the reduction to interest expense as of March 31, 2026 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):
April 2026 through December 2026$4,187 
20274,709 
20284,699 
20293,773 
20302,031 
Thereafter(2,084)
Total unamortized debt discounts, premiums and hedge instruments$17,315 
Reconciliation of Unamortized Debt Discounts, Premiums and Hedge Instruments
The following table reconciles total unamortized debt discounts, premiums and hedge instruments as of March 31, 2026 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$17,033 
Unamortized hedge instruments282 
Total unamortized debt discounts, premiums and hedge instruments17,315 
Unamortized hedge instruments (included in accumulated other comprehensive income)(282)
Unamortized discounts and premiums, net$17,033 
v3.26.1
DERIVATIVE INSTRUMENTS, HEDGING ACTIVITIES AND OTHER COMPREHENSIVE INCOME (Tables)
 3 Months Ended
Mar. 31, 2026
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 March 31, 2026 and December 31, 2025 (dollars in thousands):
Fair Value Assets (Liabilities)(1)
Type of HedgeNumber of InstrumentsAggregate NotionalReference RateInterest RateEffective DateMaturity DateMarch 31, 2026December 31, 2025
Cash Flow(2)
Three$150,000 SOFR1.68%8/15/20227/17/2026$877 $1,503 
(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)These interest rate swaps were assigned to the Company’s $300M Term Loan effective August 1, 2025.
v3.26.1
SEGMENT REPORTING (Tables)
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
The following table presents information on the Company’s reported segment revenue, net operating income, and significant segment expenses for the three months ended March 31, 2026 and 2025 that are provided to the CODM and included within the Company’s single reportable operating segment measure of profit or loss:
Three Months Ended March 31,
20262025
Revenue:
Minimum rent$153,150 $173,988 
Tenant reimbursements44,794 46,213 
Bad debt reserve(1,522)(2,076)
Other property-related revenue798 955 
Overage rent1,619 1,048 
Total revenue198,839 220,128 
Expenses:
Property operating – recoverable26,748 25,798 
Property operating – non-recoverable3,989 3,661 
Real estate taxes24,641 27,604 
Total expenses55,378 57,063 
Net operating income143,461 163,065 
Other income (expense):
Net gains from outlot sales1,039 — 
Other general and administrative expenses(13,950)(12,258)
Fee income1,296 425 
Impairment charges(5,888)— 
Depreciation and amortization(82,491)(98,231)
Interest expense(31,696)(32,954)
Equity in loss of unconsolidated subsidiaries(2,216)(607)
Income tax expense of taxable REIT subsidiaries(395)(10)
Other income, net2,572 4,743 
Gain on sales of operating properties, net— 91 
Net income11,732 24,264 
Net income attributable to noncontrolling interests(338)(534)
Net income attributable to common shareholders$11,394 $23,730 
v3.26.1
EARNINGS PER SHARE OR UNIT (Tables)
 3 Months Ended
Mar. 31, 2026
Earnings Per Share [Abstract]  
Schedule of Earnings per Share, Basic and Diluted
The following table summarizes the calculation of basic and diluted earnings per share for the Parent Company for the three months ended March 31, 2026 and 2025. 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 March 31,
20262025
Numerator:
Net income attributable to common shareholders – basic and diluted$11,394 $23,730 
Denominator:
Weighted average common shares outstanding – basic205,686,342 219,715,674 
Effect of dilutive securities:
AO LTIP Units— 40,303 
Deferred common share units89,013 71,321 
Exchangeable Notes288,113 — 
Weighted average common shares outstanding – diluted206,063,468 219,827,298 
Net income per common share – basic$0.06 $0.11 
Net income per common share – diluted$0.06 $0.11 
v3.26.1
ORGANIZATION AND BASIS OF PRESENTATION - Additional Information (Details)
 3 Months Ended
Mar. 31, 2026
General Partner Units  
Organization [Line Items]  
General partner, ownership interest (as a percent) 97.50%
Kite Realty Group, L.P.  
Organization [Line Items]  
Limited partners, ownership interest (as a percent) 2.50%
v3.26.1
ORGANIZATION AND BASIS OF PRESENTATION - Schedule of Real Estate Properties (Details)
Mar. 31, 2026
ft²
property
Real Estate Properties [Line Items]  
Number of real estate properties 167
Area of real estate property | ft² 26,880,100
Eastgate Crossing  
Real Estate Properties [Line Items]  
Area of real estate property | ft² 152,682
Operating retail/mixed-use properties  
Real Estate Properties [Line Items]  
Number of real estate properties 159
Area of real estate property | ft² 24,733,159
Operating retail/mixed-use properties – unconsolidated joint ventures  
Real Estate Properties [Line Items]  
Number of real estate properties 8
Area of real estate property | ft² 2,146,941
Standalone office properties  
Real Estate Properties [Line Items]  
Number of real estate properties 2
Area of real estate property | ft² 413,221
Development and redevelopment projects | One Loudoun Expansion  
Real Estate Properties [Line Items]  
Number of real estate properties 0
Area of real estate property | ft² 119,000
Development and redevelopment projects | Hamilton Crossing Centre  
Real Estate Properties [Line Items]  
Number of real estate properties 1
Area of real estate property | ft² 0
Development and redevelopment projects | Edwards Multiplex – Ontario  
Real Estate Properties [Line Items]  
Number of real estate properties 1
Area of real estate property | ft² 124,614
Operating retail properties with office components  
Real Estate Properties [Line Items]  
Number of real estate properties 10
Operating retail properties | Held-for-Sale  
Real Estate Properties [Line Items]  
Number of real estate properties 1
v3.26.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Investment Properties (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Accounting Policies [Abstract]    
Land, buildings and improvements $ 6,957,812 $ 6,938,588
Construction in progress 71,449 64,891
Investment properties, at cost $ 7,029,261 $ 7,003,479
v3.26.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Rental Income (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Accounting Policies [Abstract]    
Fixed contractual lease payments – operating leases $ 155,082 $ 168,839
Variable lease payments – operating leases 41,218 46,290
Bad debt reserve (1,522) (2,076)
Straight-line rent adjustments 2,250 2,787
Straight-line rent reserve for uncollectibility (481) (206)
Amortization of in-place lease liabilities, net 1,495 3,538
Rental income $ 198,042 $ 219,172
v3.26.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Details)
$ in Thousands
 1 Months Ended 3 Months Ended
Aug. 31, 2024
USD ($)
Mar. 31, 2025
USD ($)
Mar. 31, 2026
USD ($)
jointVenture
shares
Dec. 31, 2025
USD ($)
shares
Noncontrolling Interest [Line Items]        
Investment in short-term deposits $ 350,000      
Short-term deposits, interest rate (as a percent) 5.05%      
Interest income   $ 2,500    
Variable interest entity, number of entities | jointVenture     2  
Assets of VIEs     $ 6,350,260 $ 6,664,497
Limited partners' capital account, units outstanding (in shares) | shares     5,307,761 4,849,588
One Loudoun Downtown - Pads G & H        
Noncontrolling Interest [Line Items]        
Noncontrolling interest, ownership percentage by parent (as a percent)     90.00%  
Operating Partnership        
Noncontrolling Interest [Line Items]        
Noncontrolling interest, ownership percentage by parent (as a percent)     97.50% 97.70%
Noncontrolling interest, ownership percentage by limited partners (as a percent)     2.50% 2.30%
Variable Interest Entities        
Noncontrolling Interest [Line Items]        
Mortgage debt of VIEs     $ 106,700  
Assets of VIEs     $ 221,700  
v3.26.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Noncontrolling Interests (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]    
Noncontrolling interests balance as of January 1, $ 1,920 $ 1,893
Net income allocable to noncontrolling interests, excluding redeemable noncontrolling interests 70 70
Distributions to noncontrolling interests (86) (62)
Noncontrolling interests balance as of March 31, $ 1,904 $ 1,901
v3.26.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Weighted Average Interests of Parent and Limited Partners in Operating Partnership (Details) - Operating Partnership
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Noncontrolling Interest [Line Items]    
Parent Company’s weighted average interest in the Operating Partnership 97.60% 98.00%
Limited partners’ weighted average interests in the Operating Partnership 2.40% 2.00%
v3.26.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Redeemable Noncontrolling Interests (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Redeemable Noncontrolling Interest, Equity, Carrying Amount [Roll Forward]    
Net income allocable to redeemable noncontrolling interests $ 338 $ 534
Distributions declared to redeemable noncontrolling interests (86) (62)
Redeemable Noncontrolling Interests    
Redeemable Noncontrolling Interest, Equity, Carrying Amount [Roll Forward]    
Redeemable noncontrolling interests balance as of January 1, 116,245 98,074
Net income allocable to redeemable noncontrolling interests 268 464
Distributions declared to redeemable noncontrolling interests (2,413) (2,627)
Other, net including adjustments to redemption value 16,206 5,708
Total limited partners’ interests in the Operating Partnership balance as of March 31, $ 130,306 $ 101,619
v3.26.1
ACQUISITIONS - Additional Information (Details)
$ in Thousands
 3 Months Ended
Apr. 28, 2025
USD ($)
ft²
unit
Mar. 31, 2026
USD ($)
ft²
Mar. 31, 2025
USD ($)
Asset Acquisition [Line Items]      
Purchase price for acquisition of land   $ 7,931 $ 78,254
Area of real estate property (in square feet) | ft²   26,880,100  
Standalone office properties      
Asset Acquisition [Line Items]      
Area of real estate property (in square feet) | ft²   413,221  
Legacy West Joint Venture      
Asset Acquisition [Line Items]      
Ownership percentage in equity method investment (as a percent) 52.00% 52.00%  
Legacy West | Legacy West Joint Venture      
Asset Acquisition [Line Items]      
Acquisition price $ 785,000    
Share of purchase price 408,200    
Proceeds from unsecured revolving line of credit 255,000    
Legacy West | Legacy West Joint Venture | Mortgages payable      
Asset Acquisition [Line Items]      
Debt assumed $ 304,000    
Interest rate (as a percent) 3.80%    
Legacy West | Legacy West Joint Venture | Operating retail property      
Asset Acquisition [Line Items]      
Area of real estate property (in square feet) | ft² 342,011    
Legacy West | Legacy West Joint Venture | Standalone office properties      
Asset Acquisition [Line Items]      
Area of real estate property (in square feet) | ft² 443,553    
Legacy West | Legacy West Joint Venture | Multifamily      
Asset Acquisition [Line Items]      
Number of multifamily rental units | unit 782    
Indianapolis MSA      
Asset Acquisition [Line Items]      
Purchase price for acquisition of land   $ 7,800  
v3.26.1
ACQUISITIONS - Schedule of Asset Acquisitions (Details)
$ in Thousands
Jan. 15, 2025
USD ($)
ft²
Mar. 31, 2026
ft²
Asset Acquisition [Line Items]    
Area of real estate property   26,880,100
Village Commons    
Asset Acquisition [Line Items]    
Area of real estate property 170,976  
Acquisition price | $ $ 68,400  
Village Commons | Kite Realty Group, L.P.    
Asset Acquisition [Line Items]    
Ownership interest (as a percent) 100.00%  
v3.26.1
DISPOSITIONS AND IMPAIRMENT CHARGES - Schedule of Property Dispositions (Details)
$ in Thousands
Mar. 05, 2026
USD ($)
ft²
Mar. 31, 2026
ft²
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]    
Area of real estate property | ft²   26,880,100
Disposed of by Sale | Coram Plaza    
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]    
Area of real estate property | ft² 138,385  
Sales price | $ $ 12,500  
Gain (loss) | $ $ 60  
v3.26.1
DISPOSITIONS AND IMPAIRMENT CHARGES - Additional Information (Details)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
USD ($)
ft²
unit
Mar. 31, 2025
USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]    
Net proceeds from sales of operating properties $ 12,263 $ 0
Area of real estate property (in square feet) | ft² 26,880,100  
Impairment charges $ 5,888 $ 0
One Loudoun Expansion    
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]    
Number of residential units with rights to develop | unit 14  
Disposed of by Sale | One Loudoun Expansion    
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]    
Net proceeds from sales of operating properties $ 3,200  
Gain on sale $ 1,000  
Held-for-sale | City Center    
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]    
Area of real estate property (in square feet) | ft² 362,278  
Impairment charges $ 5,900  
Long-lived assets, carrying value 50,000  
Selling costs $ 500  
v3.26.1
DISPOSITIONS AND IMPAIRMENT CHARGES - Schedule of Assets and Liabilities Associated with Investment Property Held for Sale (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Assets    
Assets associated with investment properties held for sale $ 54,073 $ 71,105
Liabilities    
Liabilities associated with investment properties held for sale 3,754 4,314
Held-for-sale    
Assets    
Investment properties, net 47,177 64,899
Tenant and other receivables 2,627 2,676
Restricted cash and escrow deposits 25 25
Deferred costs, net 3,497 3,088
Prepaid and other assets 747 417
Assets associated with investment properties held for sale 54,073 71,105
Liabilities    
Accounts payable and accrued expenses 761 811
Deferred revenue and other liabilities 2,993 3,503
Liabilities associated with investment properties held for sale $ 3,754 $ 4,314
v3.26.1
INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES - Schedule of Investments in Unconsolidated Joint Ventures (Details)
$ in Thousands
 1 Months Ended 3 Months Ended 12 Months Ended
Jan. 31, 2024
USD ($)
unit
Sep. 30, 2021
USD ($)
May 31, 2020
USD ($)
Dec. 31, 2017
USD ($)
Mar. 31, 2026
USD ($)
property
Mar. 31, 2025
USD ($)
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Jun. 30, 2025
USD ($)
property
Apr. 28, 2025
Jun. 30, 2018
USD ($)
property
Schedule of Equity Method Investments [Line Items]                      
Investments in unconsolidated joint ventures         $ 356,555   $ 364,407        
Number of real estate properties | property         167            
Distributions from unconsolidated joint ventures         $ 386 $ 162          
Embassy Suites at Eddy Street Commons                      
Schedule of Equity Method Investments [Line Items]                      
Ownership Interest (as a percent)         35.00%            
Investments in unconsolidated joint ventures         $ 8,760   8,797        
Nuveen Portfolio Joint Venture                      
Schedule of Equity Method Investments [Line Items]                      
Ownership Interest (as a percent)         20.00%            
Investments in unconsolidated joint ventures         $ 5,601   5,552        
Number of real estate properties | property                     3
Glendale Multifamily Joint Venture                      
Schedule of Equity Method Investments [Line Items]                      
Ownership Interest (as a percent)     11.50%   11.50%            
Investments in unconsolidated joint ventures         $ 27   409        
Glendale Multifamily Joint Venture | Land                      
Schedule of Equity Method Investments [Line Items]                      
Contribution of property     $ 1,600                
The Corner – IN Joint Venture                      
Schedule of Equity Method Investments [Line Items]                      
Ownership Interest (as a percent)         50.00%            
Investments in unconsolidated joint ventures         $ 114   0        
Legacy West Joint Venture                      
Schedule of Equity Method Investments [Line Items]                      
Ownership Interest (as a percent)         52.00%         52.00%  
Investments in unconsolidated joint ventures         $ 224,605   230,093        
Seed Asset Joint Venture                      
Schedule of Equity Method Investments [Line Items]                      
Ownership Interest (as a percent)         52.00%       52.00%    
Investments in unconsolidated joint ventures         $ 114,948   117,056        
Number of real estate properties | property                 3    
Consideration received                 $ 233,000    
Other investments                      
Schedule of Equity Method Investments [Line Items]                      
Investments in unconsolidated joint ventures         $ 2,500   $ 2,500        
Embassy Suites at Eddy St. Commons Joint Venture                      
Schedule of Equity Method Investments [Line Items]                      
Ownership Interest (as a percent)       35.00%     35.00%        
Cash contributed to joint venture       $ 1,400              
Repayment of construction loans             $ 10,200        
Embassy Suites at Eddy St. Commons Joint Venture | Construction Loan Payable | Co-venturer                      
Schedule of Equity Method Investments [Line Items]                      
Debt instrument, face amount       $ 33,800              
Three Property Retail Portfolio Joint Venture                      
Schedule of Equity Method Investments [Line Items]                      
Ownership Interest (as a percent)                     20.00%
Three Property Retail Portfolio Joint Venture | Livingston Shopping Center, Plaza Volente and Tamiami Crossing                      
Schedule of Equity Method Investments [Line Items]                      
Consideration received                     $ 99,800
Share of purchase price                     $ 10,000
Glendale Center Apartments                      
Schedule of Equity Method Investments [Line Items]                      
Number of multifamily rental units | unit 267                    
Gain on sale of unconsolidated property, net               $ 2,300      
Distributions from unconsolidated joint ventures               $ 1,600      
Glendale Center Apartments | Joint Venture Owner                      
Schedule of Equity Method Investments [Line Items]                      
Gain on sale of unconsolidated property, net $ 20,200                    
Buckingham Mixed-Use Joint Venture                      
Schedule of Equity Method Investments [Line Items]                      
Ownership Interest (as a percent)   50.00%                  
Buckingham Mixed-Use Joint Venture | Land                      
Schedule of Equity Method Investments [Line Items]                      
Contribution of property   $ 4,000                  
v3.26.1
INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES - Additional Information (Details)
$ in Millions
 1 Months Ended
Jun. 30, 2025
USD ($)
property
jointVenture
Mar. 31, 2026
property
Apr. 28, 2025
Schedule of Equity Method Investments [Line Items]      
Number of real estate properties   167  
Legacy West Joint Venture      
Schedule of Equity Method Investments [Line Items]      
Ownership percentage in equity method investment (as a percent)   52.00% 52.00%
Seed Asset Joint Venture      
Schedule of Equity Method Investments [Line Items]      
Ownership percentage in equity method investment (as a percent) 52.00% 52.00%  
Number of wholly owned properties contributed to the joint venture | jointVenture 3    
Consideration for properties contributed | $ $ 233.0    
Number of real estate properties 3    
v3.26.1
DEFERRED COSTS AND INTANGIBLES, NET - Schedule of Deferred Costs (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]    
Acquired lease intangible assets $ 237,653 $ 260,108
Deferred leasing costs and other 92,791 91,550
Deferred costs and intangibles, gross 330,444 351,658
Less: accumulated amortization (154,142) (167,017)
Total deferred costs and intangibles 176,302 184,641
Less: deferred costs associated with investment properties held for sale (3,497) (3,088)
Deferred costs, net $ 172,805 $ 181,553
v3.26.1
DEFERRED COSTS AND INTANGIBLES, NET - Schedule of Amortization of Deferred Costs (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]    
Amortization of deferred leasing costs, lease intangibles and other $ 10,814 $ 18,081
Amortization of above-market lease intangibles $ 1,224 $ 1,954
v3.26.1
DEFERRED REVENUE, INTANGIBLES, NET AND OTHER LIABILITIES -Schedule of Deferred Revenue, Intangibles and Other Liabilities (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Other Liabilities Disclosure [Abstract]    
Unamortized in-place lease liabilities $ 107,013 $ 110,038
Retainage payables and other 8,276 18,479
Tenant rents received in advance 30,567 31,456
Lease liabilities 64,740 65,343
Total deferred revenue and other liabilities, gross 210,596 225,316
Less: deferred revenue associated with investment properties held for sale (2,993) (3,503)
Deferred revenue and other liabilities $ 207,603 $ 221,813
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration] Deferred revenue and other liabilities Deferred revenue and other liabilities
v3.26.1
DEFERRED REVENUE, INTANGIBLES, NET AND OTHER LIABILITIES - Additional Information (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Other Liabilities Disclosure [Abstract]    
Amortization of below-market lease intangibles $ 2.7 $ 9.1
v3.26.1
MORTGAGE AND OTHER INDEBTEDNESS - Schedule of Indebtedness (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Debt Instrument [Line Items]    
Gross debt $ 2,994,605 $ 3,027,937
Unamortized discounts and premiums, net 17,033 18,394
Unamortized debt issuance costs, net (19,249) (20,853)
Mortgage and other indebtedness, net 2,992,389 3,025,478
Unsecured revolving line of credit    
Debt Instrument [Line Items]    
Gross debt 53,000 85,000
Mortgages payable    
Debt Instrument [Line Items]    
Gross debt 141,605 142,937
Senior unsecured notes    
Debt Instrument [Line Items]    
Gross debt 2,250,000 2,250,000
Unsecured term loans    
Debt Instrument [Line Items]    
Gross debt $ 550,000 $ 550,000
v3.26.1
MORTGAGE AND OTHER INDEBTEDNESS - Schedule of Weighted Average Interest Rates and Maturities (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Debt Instrument [Line Items]    
Gross amount outstanding $ 2,994,605 $ 3,027,937
Debt discounts, premiums and issuance costs, net (2,216)  
Mortgage and other indebtedness, net $ 2,992,389 $ 3,025,478
Ratio (as a percent) 100.00%  
Weighted average interest rate (as a percent) 4.33%  
Weighted average years to maturity (in years) 4 years  
Fixed rate debt considering hedges    
Debt Instrument [Line Items]    
Gross amount outstanding $ 2,530,005  
Ratio (as a percent) 84.00%  
Weighted average interest rate (as a percent) 4.28%  
Weighted average years to maturity (in years) 4 years 3 months 18 days  
Fixed rate debt considering hedges | Variable rate debt    
Debt Instrument [Line Items]    
Mortgage and other indebtedness, net $ 150,000  
Variable rate debt considering hedges    
Debt Instrument [Line Items]    
Gross amount outstanding $ 464,600  
Ratio (as a percent) 16.00%  
Weighted average interest rate (as a percent) 4.58%  
Weighted average years to maturity (in years) 2 years 2 months 12 days  
v3.26.1
MORTGAGE AND OTHER INDEBTEDNESS - Schedule of Mortgages Payable (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Debt Instrument [Line Items]    
Balance $ 2,994,605 $ 3,027,937
Weighted average interest rate (as a percent) 4.33%  
Weighted average years to maturity (in years) 4 years  
Variable rate debt | Minimum    
Debt Instrument [Line Items]    
Variable interest rate (as a percent) 4.51%  
Variable rate debt | Maximum    
Debt Instrument [Line Items]    
Variable interest rate (as a percent) 5.81%  
Mortgages Payable    
Debt Instrument [Line Items]    
Balance $ 141,605 142,937
Mortgages Payable | Fixed rate debt    
Debt Instrument [Line Items]    
Balance $ 130,005 $ 130,737
Weighted average interest rate (as a percent) 5.12% 5.11%
Weighted average years to maturity (in years) 5 years 10 months 24 days 6 years 2 months 12 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]    
Balance $ 11,600 $ 12,200
Weighted average interest rate (as a percent) 5.81% 5.84%
Weighted average years to maturity (in years) 3 months 18 days 7 months 6 days
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration] Secured Overnight Financing Rate (SOFR) [Member]  
Credit spread (as a percent) 2.15%  
Variable interest rate (as a percent) 3.66% 3.69%
v3.26.1
MORTGAGE AND OTHER INDEBTEDNESS - Mortgages Payable - Additional Information (Details)
$ in Millions
 3 Months Ended
Mar. 31, 2026
USD ($)
Mortgages payable  
Debt Instrument [Line Items]  
Scheduled principal payments $ 1.3
v3.26.1
MORTGAGE AND OTHER INDEBTEDNESS - Schedule of Unsecured Notes (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Debt Instrument [Line Items]    
Balance $ 2,994,605 $ 3,027,937
Senior Unsecured Notes    
Debt Instrument [Line Items]    
Balance $ 2,250,000 2,250,000
Senior Unsecured Notes | Senior notes – 4.08% due 2026    
Debt Instrument [Line Items]    
Stated interest rate (as a percent) 4.08%  
Balance $ 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]    
Stated interest rate (as a percent) 4.00%  
Balance $ 300,000 $ 300,000
Interest rate (as a percent) 4.00% 4.00%
Senior Unsecured Notes | Senior Notes - 4.57% due 2027    
Debt Instrument [Line Items]    
Stated interest rate (as a percent) 4.57%  
Balance $ 75,000 $ 75,000
Interest rate (as a percent) 4.57% 4.57%
Senior Unsecured Notes | Senior notes – 4.24% due 2028    
Debt Instrument [Line Items]    
Stated interest rate (as a percent) 4.24%  
Balance $ 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]    
Stated interest rate (as a percent) 4.82%  
Balance $ 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]    
Stated interest rate (as a percent) 4.75%  
Balance $ 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]    
Stated interest rate (as a percent) 4.95%  
Balance $ 350,000 $ 350,000
Interest rate (as a percent) 4.95% 4.95%
Senior Unsecured Notes | Senior notes – 5.20% due 2032    
Debt Instrument [Line Items]    
Stated interest rate (as a percent) 5.20%  
Balance $ 300,000 $ 300,000
Interest rate (as a percent) 5.20% 5.20%
Senior Unsecured Notes | Senior Notes - 5.50% due 2034    
Debt Instrument [Line Items]    
Stated interest rate (as a percent) 5.50%  
Balance $ 350,000 $ 350,000
Senior Unsecured Notes | Senior Notes - 5.50% due 2034 | Designated as Hedging Instrument    
Debt Instrument [Line Items]    
Stated interest rate (as a percent) 4.60%  
Interest rate (as a percent) 4.60% 4.60%
Senior Exchangeable Notes | Senior exchangeable notes – 0.75% due 2027    
Debt Instrument [Line Items]    
Stated interest rate (as a percent) 0.75%  
Balance $ 175,000 $ 175,000
Interest rate (as a percent) 0.75% 0.75%
v3.26.1
MORTGAGE AND OTHER INDEBTEDNESS - Schedule of Term Loans and Revolving Line of Credit (Details)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
USD ($)
extension
Dec. 31, 2025
USD ($)
Debt Instrument [Line Items]    
Balance $ 2,994,605 $ 3,027,937
Unsecured credit facility revolving line of credit - variable rate    
Debt Instrument [Line Items]    
Balance $ 53,000 $ 85,000
Interest rate (as a percent) 4.73% 4.92%
Extension fee percentage (as a percent) 0.00075  
Unsecured credit facility revolving line of credit - variable rate | Debt Instrument, Maturity Option, One    
Debt Instrument [Line Items]    
Number of extension options | extension 1  
Extension period 1 year  
Unsecured credit facility revolving line of credit - variable rate | Debt Instrument, Maturity Option, Two    
Debt Instrument [Line Items]    
Number of extension options | extension 2  
Extension period 6 months  
Unsecured term loans    
Debt Instrument [Line Items]    
Balance $ 550,000 $ 550,000
Unsecured term loan due 2027 - fixed rate | Unsecured term loans    
Debt Instrument [Line Items]    
Balance $ 250,000 $ 250,000
Interest rate (as a percent) 4.53% 4.72%
Number of extension options | extension 1  
Extension period 1 year  
Unsecured term loan due 2029 - fixed rate | Unsecured term loans    
Debt Instrument [Line Items]    
Balance $ 300,000 $ 300,000
Interest rate (as a percent) 3.52% 3.54%
Debt instrument, face amount $ 300,000  
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration] Secured Overnight Financing Rate (SOFR) [Member]  
Fixed interest rate (as a percent) 1.68%  
Variable interest rate (as a percent) 0.85% 0.85%
Unsecured term loan due 2029 - fixed rate | Unsecured term loans | Minimum    
Debt Instrument [Line Items]    
Credit spread (as a percent) 0.75%  
Unsecured term loan due 2029 - fixed rate | Unsecured term loans | Maximum    
Debt Instrument [Line Items]    
Credit spread (as a percent) 1.60%  
Unsecured term loan due 2029 - fixed rate | Interest Rate Swap    
Debt Instrument [Line Items]    
Balance $ 150,000  
v3.26.1
MORTGAGE AND OTHER INDEBTEDNESS - Unsecured Revolving Credit Facility - Additional Information (Details)
 1 Months Ended 3 Months Ended
Oct. 31, 2024
USD ($)
extension
Mar. 31, 2026
USD ($)
extension
Dec. 31, 2025
USD ($)
Debt Instrument [Line Items]      
Gross amount outstanding   $ 2,994,605,000 $ 3,027,937,000
Letters of credit outstanding   4,200,000  
Letters of credit outstanding, amount advanced   0  
Unsecured term loans      
Debt Instrument [Line Items]      
Gross amount outstanding   550,000,000 550,000,000
$300M unsecured term loan | Unsecured term loans      
Debt Instrument [Line Items]      
Debt instrument, face amount   300,000,000  
Gross amount outstanding   300,000,000 300,000,000
Kite Realty Group, L.P. | $300M unsecured term loan | Unsecured term loans      
Debt Instrument [Line Items]      
Debt instrument term (in years) 7 years    
Debt instrument, face amount $ 300,000,000    
Gross amount outstanding   300,000,000  
Unsecured revolving line of credit      
Debt Instrument [Line Items]      
Gross amount outstanding   $ 53,000,000 $ 85,000,000
Unsecured revolving line of credit | Debt Instrument, Maturity Option, One      
Debt Instrument [Line Items]      
Number of extension options | extension   1  
Extension period   1 year  
Unsecured revolving line of credit | Debt Instrument, Maturity Option, Two      
Debt Instrument [Line Items]      
Number of extension options | extension   2  
Extension period   6 months  
Unsecured revolving line of credit | Kite Realty Group, L.P.      
Debt Instrument [Line Items]      
Line of credit, maximum borrowing capacity 1,100,000,000 $ 1,100,000,000  
Line of credit, accordion feature, maximum borrowing capacity option $ 2,000,000,000.0    
Covenant, total leverage ratio, minimum (as a percent)   0.350  
Covenant, total leverage ratio, maximum (as a percent)   0.375  
Reduction of interest rate margin upon achievement of sustainability metric   0.0002  
Unsecured revolving line of credit | Kite Realty Group, L.P. | Debt Instrument, Maturity Option, One      
Debt Instrument [Line Items]      
Number of extension options | extension 1 1  
Extension period 1 year 1 year  
Unsecured revolving line of credit | Kite Realty Group, L.P. | Debt Instrument, Maturity Option, Two      
Debt Instrument [Line Items]      
Number of extension options | extension 2 2  
Extension period 6 months 6 months  
v3.26.1
MORTGAGE AND OTHER INDEBTEDNESS - Schedule of Revolving Facility Key Terms (Details) - Unsecured revolving line of credit
 1 Months Ended 3 Months Ended
Oct. 31, 2024
USD ($)
extension
Mar. 31, 2026
USD ($)
extension
Line of Credit Facility [Line Items]    
Extension fee percentage (as a percent)   0.00075
Debt Instrument, Maturity Option, One    
Line of Credit Facility [Line Items]    
Number of extension options   1
Extension period   1 year
Debt Instrument, Maturity Option, Two    
Line of Credit Facility [Line Items]    
Number of extension options   2
Extension period   6 months
Kite Realty Group, L.P.    
Line of Credit Facility [Line Items]    
Line of credit, maximum borrowing capacity | $ $ 1,100,000,000 $ 1,100,000,000
Extension fee percentage (as a percent)   0.00075
Kite Realty Group, L.P. | Debt Instrument, Maturity Option, One    
Line of Credit Facility [Line Items]    
Number of extension options 1 1
Extension period 1 year 1 year
Kite Realty Group, L.P. | Debt Instrument, Maturity Option, Two    
Line of Credit Facility [Line Items]    
Number of extension options 2 2
Extension period 6 months 6 months
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%
v3.26.1
MORTGAGE AND OTHER INDEBTEDNESS - Unsecured Term Loans - Additional Information (Details) - Unsecured term loans - USD ($)
 3 Months Ended
Mar. 31, 2026
Oct. 31, 2024
$250M unsecured term loan | Kite Realty Group, L.P.    
Debt Instrument [Line Items]    
Debt instrument, face amount $ 250,000,000  
Line of credit, accordion feature, increase limit 300,000,000.0  
$300M unsecured term loan    
Debt Instrument [Line Items]    
Debt instrument, face amount $ 300,000,000  
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration] Secured Overnight Financing Rate (SOFR) [Member]  
$300M unsecured term loan | Kite Realty Group, L.P.    
Debt Instrument [Line Items]    
Debt instrument, face amount   $ 300,000,000
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration] Secured Overnight Financing Rate (SOFR) [Member]  
v3.26.1
MORTGAGE AND OTHER INDEBTEDNESS - Schedule of Unsecured Term Loans Key Terms (Details)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
USD ($)
extension
Dec. 31, 2025
USD ($)
Debt Instrument [Line Items]    
Gross debt $ 2,994,605 $ 3,027,937
Unsecured term loans    
Debt Instrument [Line Items]    
Gross debt 550,000 550,000
Unsecured term loans | Unsecured term loan due 2027 - fixed rate    
Debt Instrument [Line Items]    
Gross debt $ 250,000 250,000
Number of extension options | extension 1  
Extension period 1 year  
Unsecured term loans | Unsecured term loan due 2027 - fixed rate | Kite Realty Group, L.P.    
Debt Instrument [Line Items]    
Gross debt $ 250,000  
Number of extension options | extension 1  
Extension period 1 year  
Unsecured term loans | Unsecured term loan due 2027 - fixed rate | Kite Realty Group, L.P. | Minimum | Investment-Grade Pricing    
Debt Instrument [Line Items]    
Credit spread (as a percent) 0.75%  
Unsecured term loans | Unsecured term loan due 2027 - fixed rate | Kite Realty Group, L.P. | Maximum | Investment-Grade Pricing    
Debt Instrument [Line Items]    
Credit spread (as a percent) 1.60%  
Unsecured term loans | Unsecured term loan due 2029 - fixed rate    
Debt Instrument [Line Items]    
Gross debt $ 300,000 $ 300,000
Unsecured term loans | Unsecured term loan due 2029 - fixed rate | Minimum    
Debt Instrument [Line Items]    
Credit spread (as a percent) 0.75%  
Unsecured term loans | Unsecured term loan due 2029 - fixed rate | Maximum    
Debt Instrument [Line Items]    
Credit spread (as a percent) 1.60%  
Unsecured term loans | Unsecured term loan due 2029 - fixed rate | Kite Realty Group, L.P.    
Debt Instrument [Line Items]    
Gross debt $ 300,000  
Unsecured term loans | Unsecured term loan due 2029 - fixed rate | Kite Realty Group, L.P. | Minimum | Investment-Grade Pricing    
Debt Instrument [Line Items]    
Credit spread (as a percent) 0.75%  
Unsecured term loans | Unsecured term loan due 2029 - fixed rate | Kite Realty Group, L.P. | Maximum | Investment-Grade Pricing    
Debt Instrument [Line Items]    
Credit spread (as a percent) 1.60%  
v3.26.1
MORTGAGE AND OTHER INDEBTEDNESS - Schedule of Amortization of Debt Issuance Costs (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Debt Disclosure [Abstract]    
Amortization of debt issuance costs $ 1,759 $ 1,644
v3.26.1
MORTGAGE AND OTHER INDEBTEDNESS - Schedule of Amortization of Debt Discounts and Premiums (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Debt Disclosure [Abstract]    
Amortization of debt discounts, premiums and hedge instruments $ 1,597 $ 2,756
v3.26.1
MORTGAGE AND OTHER INDEBTEDNESS - Schedule of Maturities of Debt Discounts, Premiums and Hedge Instruments Amortization (Details)
$ in Thousands
Mar. 31, 2026
USD ($)
Debt Disclosure [Abstract]  
April 2026 through December 2026 $ 4,187
2027 4,709
2028 4,699
2029 3,773
2030 2,031
Thereafter (2,084)
Total unamortized debt discounts, premiums and hedge instruments $ 17,315
v3.26.1
MORTGAGE AND OTHER INDEBTEDNESS - Reconciliation of Debt Discounts, Premiums and Hedge Instruments Amortization (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Debt Disclosure [Abstract]    
Unamortized discounts and premiums on mortgages payable, senior unsecured notes and unsecured term loans $ 17,033  
Unamortized hedge instruments 282  
Total unamortized debt discounts, premiums and hedge instruments 17,315  
Unamortized hedge instruments (included in accumulated other comprehensive income) (282)  
Unamortized discounts and premiums, net $ 17,033 $ 18,394
v3.26.1
MORTGAGE AND OTHER INDEBTEDNESS - Fair Value of Fixed and Variable Rate Debt - Additional Information (Details)
$ in Millions
Mar. 31, 2026
USD ($)
Debt Instrument [Line Items]  
Percentage bearing fixed interest, amount $ 2,400.0
Percentage bearing variable interest, amount 614.6
Fixed rate debt  
Debt Instrument [Line Items]  
Long-term debt, fair value $ 2,400.0
Fixed rate debt | Minimum  
Debt Instrument [Line Items]  
Fixed interest rate (as a percent) 4.85%
Fixed rate debt | Maximum  
Debt Instrument [Line Items]  
Fixed interest rate (as a percent) 6.63%
Variable rate debt  
Debt Instrument [Line Items]  
Long-term debt, fair value $ 615.0
Variable rate debt | Minimum  
Debt Instrument [Line Items]  
Variable interest rate (as a percent) 4.51%
Variable rate debt | Maximum  
Debt Instrument [Line Items]  
Variable interest rate (as a percent) 5.81%
v3.26.1
DERIVATIVE INSTRUMENTS, HEDGING ACTIVITIES AND OTHER COMPREHENSIVE INCOME - Schedule of Terms and Fair Value of Derivative Financial Instruments (Details)
Mar. 31, 2026
USD ($)
instrument
Dec. 31, 2025
USD ($)
Oct. 31, 2024
USD ($)
Unsecured term loan due 2029 - fixed rate | Unsecured term loans      
Derivative Instruments and Hedging Activities Disclosures [Line Items]      
Debt instrument, face amount $ 300,000,000    
Unsecured term loan due 2029 - fixed rate | Unsecured term loans | Kite Realty Group, L.P.      
Derivative Instruments and Hedging Activities Disclosures [Line Items]      
Debt instrument, face amount     $ 300,000,000
$150M Interest Rate Swap Maturing in 2026 | Cash Flow      
Derivative Instruments and Hedging Activities Disclosures [Line Items]      
Number of instruments | instrument 3    
Aggregate notional $ 150,000,000    
Investment, Variable Interest Rate, Type [Extensible Enumeration] Secured Overnight Financing Rate (SOFR) [Member]    
Interest rate (as a percent) 1.68%    
Fair value assets (liabilities) $ 877,000 $ 1,503,000  
v3.26.1
DERIVATIVE INSTRUMENTS, HEDGING ACTIVITIES AND OTHER COMPREHENSIVE INCOME - Additional Information (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Gain reclassified from AOCI as a reduction to interest expense $ 1.6 $ 2.6
Interest Rate Swap    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Amount expected to be reclassified to interest expense over the next 12 months $ 4.3  
v3.26.1
SEGMENT REPORTING - Additional Information (Details)
 3 Months Ended
Mar. 31, 2026
segment
Segment Reporting [Abstract]  
Number of reportable segments 1
v3.26.1
SEGMENT REPORTING - Schedule of Segment Revenue and Significant Segment Expenses (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Revenue:    
Total revenue $ 200,697 $ 221,077
Expenses:    
Real estate taxes 24,824 27,761
Other income (expense):    
Net gains from outlot sales 1,039 0
Other general and administrative expenses (13,950) (12,258)
Impairment charges (5,888) 0
Depreciation and amortization (82,491) (98,231)
Interest expense (31,696) (32,954)
Equity in loss of unconsolidated subsidiaries (2,216) (607)
Income tax expense of taxable REIT subsidiaries (395) (10)
Other income, net 2,572 4,743
Gain on sales of operating properties, net 0 91
Net income 11,732 24,264
Net income attributable to noncontrolling interests (338) (534)
Net income attributable to common shareholders 11,394 23,730
Other property-related revenue    
Revenue:    
Revenue 1,359 1,480
Fee income    
Revenue:    
Revenue 1,296 425
Reportable Segment    
Revenue:    
Bad debt reserve (1,522) (2,076)
Total revenue 198,839 220,128
Expenses:    
Property operating – recoverable 26,748 25,798
Property operating – non-recoverable 3,989 3,661
Real estate taxes 24,641 27,604
Total expenses 55,378 57,063
Net operating income 143,461 163,065
Other income (expense):    
Net gains from outlot sales 1,039 0
Other general and administrative expenses (13,950) (12,258)
Impairment charges (5,888) 0
Depreciation and amortization (82,491) (98,231)
Interest expense (31,696) (32,954)
Equity in loss of unconsolidated subsidiaries (2,216) (607)
Income tax expense of taxable REIT subsidiaries (395) (10)
Other income, net 2,572 4,743
Gain on sales of operating properties, net 0 91
Net income 11,732 24,264
Net income attributable to noncontrolling interests (338) (534)
Net income attributable to common shareholders 11,394 23,730
Reportable Segment | Minimum rent    
Revenue:    
Revenue 153,150 173,988
Reportable Segment | Tenant reimbursements    
Revenue:    
Revenue 44,794 46,213
Reportable Segment | Other property-related revenue    
Revenue:    
Revenue 798 955
Reportable Segment | Overage rent    
Revenue:    
Revenue 1,619 1,048
Reportable Segment | Fee income    
Revenue:    
Revenue $ 1,296 $ 425
v3.26.1
SHAREHOLDERS’ EQUITY (Details) - USD ($)
$ / shares in Units, $ in Thousands
 1 Months Ended 3 Months Ended
Apr. 16, 2026
Jan. 31, 2026
Mar. 31, 2026
Mar. 31, 2025
Feb. 28, 2026
Apr. 30, 2022
Feb. 28, 2021
Subsidiary, Sale of Stock [Line Items]              
Dividends declared per common share (in dollars per share)     $ 0.29 $ 0.27      
Payment of special cash distribution to common shareholders and unitholders   $ 30,700          
Aggregate value of shares authorized to be repurchased         $ 600,000 $ 300,000 $ 150,000
Amount paid for shares repurchased     $ 152,422        
O 2025 Q4 Dividends              
Subsidiary, Sale of Stock [Line Items]              
Dividends paid per common share (in dollars per share)   $ 0.29          
S 2025 Q4 Dividends              
Subsidiary, Sale of Stock [Line Items]              
Dividends paid per common share (in dollars per share)   $ 0.145          
Common Shares              
Subsidiary, Sale of Stock [Line Items]              
Number of shares repurchased during the period (in shares)     6,000,000.0 0      
Average repurchase price per share (in dollars per share)     $ 25.19        
Amount paid for shares repurchased     $ 152,300        
Share repurchase program, remaining authorized, amount     $ 200,000        
Subsequent Event              
Subsidiary, Sale of Stock [Line Items]              
Dividends paid per common share (in dollars per share) $ 0.29            
v3.26.1
EARNINGS PER SHARE OR UNIT - Additional Information (Details) - shares
shares in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Earnings Per Share [Abstract]    
Weighted average Limited Partner Units outstanding, basic (in shares) 5.1 4.5
v3.26.1
EARNINGS PER SHARE OR UNIT - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Numerator:    
Net income attributable to common shareholders – basic $ 11,394 $ 23,730
Net income attributable to common shareholders – diluted $ 11,394 $ 23,730
Denominator:    
Weighted average common shares outstanding – basic (in shares) 205,686,342 219,715,674
Effect of dilutive securities:    
Exchangeable notes (in shares) 288,113 0
Weighted average common shares outstanding – diluted (in shares) 206,063,468 219,827,298
Net income per common share – basic (in dollars per share) $ 0.06 $ 0.11
Net income per common share – diluted (in dollars per share) $ 0.06 $ 0.11
AO LTIP Units    
Effect of dilutive securities:    
Effect of dilutive securities (in shares) 0 40,303
Deferred common share units    
Effect of dilutive securities:    
Effect of dilutive securities (in shares) 89,013 71,321
v3.26.1
COMMITMENTS AND CONTINGENCIES (Details)
$ in Millions
Mar. 31, 2026
USD ($)
ft²
Jul. 31, 2025
ft²
Dec. 31, 2021
USD ($)
Guarantor Obligations [Line Items]      
Letters of credit outstanding $ 4.2    
Letters of credit outstanding, amount advanced $ 0.0    
Area of real estate property (in square feet) | ft² 26,880,100    
Eastgate Crossing      
Guarantor Obligations [Line Items]      
Area of real estate property (in square feet) | ft²   152,682  
Buckingham Joint Venture at The Corner      
Guarantor Obligations [Line Items]      
Construction loan payable $ 69.7    
Buckingham Joint Venture at The Corner | Payment Guarantee | Construction Contracts      
Guarantor Obligations [Line Items]      
Current amount of obligation $ 34.9    
Buckingham Joint Venture at The Corner | Construction Loans      
Guarantor Obligations [Line Items]      
Repayment guarantees     $ 66.2