INDIANAPOLIS (AP) -- Kite Realty Group Trust said Wednesday it agreed to buy a portfolio of shopping centers for $307 million in cash.

The nine centers are in Kite's existing markets of Florida, Georgia and Texas and the new market of Birmingham, Ala.

CEO John Kite said the deal will add about 2 million square feet of shopping centers to the company's portfolio. As of Sept. 30, the portfolio to be acquired was 93.2% leased.

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