Estimated 2021 FFO, as adjusted, excludes the impact of 2020 bad debt or 2020 accounts receivable (“2020 Collection Impact”).KRG is raising 2021 guidance for FFO, as adjusted, to $1.26 to $1.34 per share (previously $1.24 - $1.34). To view the Company’s Virtual Market Tours visit our Market Highlights page at KRG Virtual Market Tours.In order to showcase the Company’s high-quality, open-air retail real estate, KRG introduced a Virtual Market Tour Series in early September.As of March 31, 2021, KRG’s net-debt-to-Adjusted EBITDA, proforma for the ground lease sales, was 6.6x.In conjunction with the exchangeable notes, the Company entered into capped call transactions, thereby increasing the strike price of the convertible issuance to approximately $30.26 (subject to potential adjustments under the terms of such agreements).Issued $175 million of exchangeable senior unsecured notes with a 0.75% coupon due 2027. ![]() Under contract to sell one additional ground lease for $1.5 million, which will complete the transaction with Agree Realty Corporation (NYSE: ADC).Sold 16 outparcel ground leases for gross proceeds of $40.3 million. ![]()
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