SITE Centers Announces Sale Of 6-Property Portfolio To An Affiliate Of Pine Tree For A Price Of $495M
Portfolio Pulse from Benzinga Newsdesk
SITE Centers Corp. (NYSE:SITC) has sold a six-property portfolio to an affiliate of Pine Tree for $495 million. The sale excluded 93,607 square feet of gross leasable area at three properties, which will be included in the expected spin-off of Curbline Properties.
June 13, 2024 | 8:07 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
SITE Centers Corp. has sold a six-property portfolio for $495 million, excluding certain areas for a future spin-off. This sale could positively impact the company's liquidity and focus on high-value assets.
The sale of the six-property portfolio for $495 million will likely improve SITE Centers' liquidity and allow the company to focus on high-value assets. The exclusion of certain areas for a future spin-off indicates strategic planning for long-term growth.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100