SITE Centers Says Sold 13 Wholly Owned Properties For Aggregate Gross Price Of $714.3M in Q3 To Date
Portfolio Pulse from Benzinga Newsdesk
SITE Centers has sold 13 properties for $714.3M and used part of the proceeds to repay $159M of its mortgage facility. The company also acquired six shopping centers for $111.2M. Curbline, a spin-off, will be capitalized with $600M cash and a $400M line of credit.
September 17, 2024 | 11:00 am
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SITE Centers sold 13 properties for $714.3M, using part of the proceeds to repay $159M of its mortgage. It also acquired six shopping centers for $111.2M. Curbline spin-off will have $600M cash and a $400M credit line.
The sale of properties and repayment of debt improves SITE Centers' financial position, potentially boosting investor confidence. The acquisition of new shopping centers indicates growth. The Curbline spin-off with significant capitalization suggests strategic expansion.
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