SITE Centers (SITC) Provides 2023 and YTD 2024 Transactions Update

SITE Centers Corp. (NYSE: SITC) today provided an update on fourth quarter 2023 and first quarter to date 2024 transaction activity as part of presentations to certain investors in meetings hosted by Evercore ISI.

“SITE Centers closed on the sale of 12 properties in the fourth quarter bringing total dispositions since June 30, 2023 to $854.5 million including fourth quarter dispositions of $736.2 million at a blended 6.5% cap rate. The pace and scale of our asset sales are a testament to the quality of the SITE Centers portfolio and demand for well-positioned open-air shopping centers. We expect to close three additional properties with gross proceeds of roughly $120 million in the next few weeks with significant momentum on future asset sales,” commented David R. Lukes, President and Chief Executive Officer. “We also acquired $62.4 million of Convenience assets in the fourth quarter in key markets including Atlanta, Charlotte and Phoenix highlighting the opportunity set for Curbline Properties as we move closer to the expected spin-off date.”

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