Item 2.06. Material Impairments.
On December 31. 2012, Kite Realty Group Trust (the "Company") acquired from its
partner the remaining 60% interest not owned by the Company in a joint venture
that owns a retail development project known as Parkside Town Commons located in
Raleigh, North Carolina. The development consists of a 125-acre parcel of land
on which the Company expects to develop a multi-phased 580,000 square foot
shopping center. As a result of the acquisition of this interest at a discount
to book cost, the Company re-measured its investment in the project as of
December 31, 2012 as required under generally accepted accounting principles and
expects to recognize a related non-cash net re-measurement loss of approximately
$7.8 to $8.1 million for the fourth quarter of 2012. This re-measurement charge
is not expected to result in future cash expenditures. This is a non-cash
charge that will not impact the Company's liquidity or its funds from operations
for 2012.
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