SITE Centers Provides Third Quarter 2024 Transaction and Financing Update

BEACHWOOD, Ohio--(BUSINESS WIRE)-- SITE Centers Corp. (NYSE: SITC), an owner of open-air shopping centers in suburban, high household income communities, today provided an update on third quarter 2024 to date transaction and financing activity.

In the third quarter to date, SITE Centers has sold 11 wholly owned properties for an aggregate gross price of $552.7 million and acquired four convenience shopping centers for an aggregate gross price of $88.0 million including Crocker Commons (Cleveland, OH), Maple Corner (Nashville, TN), Village Plaza (Houston, TX) and Brookhaven Station (Atlanta, GA).

As previously disclosed, the Company also closed and funded a $530 million mortgage facility secured by 23 properties, repaid its outstanding $200 million unsecured term loan, terminated its $950 million revolving credit facility, and completed a one-for-four reverse split of its common shares. Lastly, in August, the Company redeemed all outstanding senior unsecured notes and has no remaining outstanding unsecured debt.

Dispositions			SITE	Owned
	Property Name	MSA	Own	GLA	Price
07/19/24	Two Property Portfolio (1)	Atlanta-Sandy Springs-Roswell, GA	100%	406	$67,530
07/29/24	Bandera Pointe (2)	San Antonio-New Braunfels, TX	100%	438	58,325
07/29/24	Midway Plaza (3)	Miami-Fort Lauderdale-West Palm Beach, FL	100%	218	36,425
07/31/24	Lee Vista	Orlando-Kissimmee-Sanford, FL	100%	314	68,500
08/20/24	Three Property Portfolio (4)	Various	100%	894	137,500
08/22/24	Guilford Commons	Hartford-West Hartford-East Hartford, CT	100%	129	26,500
08/22/24	Woodfield Village Green	Chicago-Naperville-Elgin, IL-IN-WI	100%	390	93,200
08/27/24	Falcon Ridge Town Center (5)	Riverside-San Bernardino-Ontario, CA	100%	250	64,700
		3Q2024 QTD			$552,680
1 Includes Cumming Marketplace (excludes 44K SF retained by SITE Centers (Marketplace Plaza South)) and Cumming Town Center (excludes 37K SF retained by SITE Centers (Marketplace Plaza North))
2 Excludes 3K SF retained by SITE Centers (Bandera Corner)
3 Excludes 10K SF retained by SITE Centers (Shops at Midway)
4 Includes Carolina Pavilion (excludes 10K SF retained by SITE Centers (Carolina Station)), Lake Brandon Village (excludes 12K SF retained by SITE Centers (Shops at Lake Brandon)), and Millenia Crossing
5 Excludes 27K SF retained by SITE Centers (Shops on Summit)

About SITE Centers Corp.

SITE Centers is an owner and manager of open-air shopping centers located in suburban, high household income communities. 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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Conor Fennerty, EVP and Chief Financial Officer

216-755-5500

Source: SITE Centers Corp.