Kite Realty Group Trust completed the merger with Retail Properties of America in a $7.5bn deal.

Kite Realty Group Trust, a full-service, vertically integrated real estate investment trust, completed the merger with Retail Properties of America, which owns and manages a diversified mix of high-quality retail shopping centers, in a $7.5bn deal. “We are thrilled to announce the successful completion of the transformational merger with RPAI, creating a top 5 open-air shopping center REIT. The merger will generate immediate earnings accretion and will drive further long-term value to our shareholders. We have already completed significant steps in our integration and are well-positioned to continue capitalizing on the strong leasing environment. While the financial and operational synergies are extremely compelling, we are most passionate about the quality of the underlying real estate," John A. Kite, Kite Realty Group Chairman and CEO.