Kite Realty Group Trust (NYSE:KRG) announced that it has closed on the sale of its Martinsville Shops retail property for a sales price of $1.50 million. The net proceeds of $1.49 million were initially used to pay down the Company's unsecured line of credit.

Kite Realty Group Trust, a real estate investment trust (REIT), engages in the acquisition, development, expansion, construction, ownership, leasing, operation, and management of neighborhood and community shopping centers, and commercial real estate properties in the United States.

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