DID YOU KNOW?
Sep 1, 2004 12:00 PM
Indianapolis-based Kite Realty Group Trust survived its IPO last month, in spite of Wall Street turmoil that caused several other companies to call off their offerings. Kite sold 16.3 million shares on the New York Stock Exchange at $13 apiece, slightly below the expected price of $14 to $16 a share. Kite is using part of its gross proceeds of $212 million to pay down debt and acquire more property. In fact, Kite paid $33.8 million for three grocery-anchored centers in Atlanta, Indianapolis and Orlando, Fla…Borders Group signed a licensing agreement with Seattle's Best Coffee. No financial terms of the deal, which will convert all of Borders' in-store cafés to the Seattle's Best format starting in 2005, were revealed. Café sales currently account for 4 percent of total sales at Borders…Long Beach, Calif.-based architectural firm Perkowitz + Ruth celebrated its 25
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