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Kite Realty to buy Inland Diversified for about $1.2 bln

Monday, 10 Feb 2014 | 7:24 AM ET

Feb 10 (Reuters) - Kite Realty Group Trust, an operator of community shopping centers, said it would buy Inland Diversified Real Estate Trust Inc for about $1.2 billion in stock.

The deal would allow Kite Realty to enter markets including Westchester, New York, Bayonne, New Jersey, Las Vegas, Virginia Beach and Salt Lake City.

Inland Diversified is a real estate investment trust.