SITE Centers Corp. (SITC): M&A transaction — SITE Centers completes $495M sale of six shopping centers to Pine Tree affiliate

SITE Centers Corp.

Sellers (SITE Centers subsidiaries) sold six shopping centers for $495M cash to Pine Tree affiliate, closed June 13, 2024.
Retained ~94K sq ft at three centers for planned Curbline Properties spin-off.
Excludes specific parcels: Shops at the Fountains (14,159 sf), Shops on Polaris (70,971 sf), Shops at Tanasbourne (8,477 sf).

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

SITE Centers Corp. completed a disposition involving affiliate of Pine Tree for $495 million in cash (closed 2024-06-13).

Action: disposition
Counterparty: affiliate of Pine Tree
Consideration: $495 million in cash
Closing: 2024-06-13

Exact text from the filing

On June 13, 2024, certain subsidiaries (collectively, the “Sellers”) of SITE Centers Corp. (the “Company”) completed their previously announced sale to an affiliate of Pine Tree of their interests in Arrowhead Crossing (Phoenix, Arizona), Easton Market (Columbus, Ohio), The Fountains (Miami, Florida), Kenwood Square (Cincinnati, Ohio), Polaris Towne Center (Columbus, Ohio) and Tanasbourne Town Center (Portland, Oregon) for a price of $495 million in cash, subject to adjustment for certain closing pro-rations, allocations and credits.

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Source: SEC EDGAR

accession 0000950170-24-073999

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