1. SITC sold Perimeter Pointe for approximately $48 million. 2. Proceeds were not used for mortgage repayment, indicating strong cash flow. 3. Company continues to operate as a fully integrated self-managed REIT. 4. Transaction enhances SITC’s liquidity and financial flexibility.
FAQ
Why Bullish?
The sale suggests improved liquidity, allowing SITC to invest in future opportunities. Historical sales in real estate have often resulted in stock price increases due to enhanced investor confidence.
How important is it?
The financial outcome of this sale directly impacts SITC's liquidity and future growth potential, making it highly relevant.
Why Short Term?
The immediate financial improvement from the sale could boost stock prices. Similar past transactions saw short-term gains as markets reacted positively.
SITE Centers Corp. (NYSE:SITC) announced today the sale of Perimeter Pointe (Atlanta, GA) for approximately $48.0 million, prior to closing costs, prorations and other closing adjustments. No proceeds were used to repay mortgage debt as the Company repaid its existing mortgage facility in full on December 18, 2025.
About SITE Centers Corp.
SITE Centers is an owner and manager of open-air shopping centers. The Company is a self-administered and self-managed REIT operating as a fully integrated real estate company and is publicly traded on the New York Stock Exchange under the ticker symbol SITC. Additional information about the Company is available at www.sitecenters.com. To be included in the Company's e-mail distributions for press releases and other investor news, please click here.
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For additional information:
Gerald Morgan, EVP and
Chief Financial Officer
216-755-5500