Kite Realty Group Sells White Plains City Center Assets for $50M

Key Facts

1Kite Realty Group (NYSE: KRG) completed the sale of the City Center mixed-use asset in White Plains, New York, for $50 million.

As part of the real estate sector's focus on portfolio optimization, Kite Realty Group (NYSE: KRG) according to reports completed the sale of its City Center mixed-use asset in White Plains, New York, for $50 million. The move aligns with the company's capital recycling strategy to streamline its portfolio.

The deal reflects a broader trend among REITs to strengthen balance sheets and deleverage amid elevated interest rates. The commercial real estate market continues to face headwinds, prompting companies to regularly review their asset bases. Kite Realty has not disclosed specific plans for the proceeds.

In trading, KRG closed at $29.01 on June 25, 2026, near the session high of $29.14. The sale proceeds are expected to boost liquidity or fund future acquisitions, though no near-term catalysts are apparent.