SITE Centers (SITC) closes $50.1M cash sale of Chicago asset

Rhea-AI Filing Summary

SITE Centers Corp. reports that a subsidiary has completed the sale of its interests in the 3030 North Broadway property in Chicago, Illinois. The buyer, L3 3030 Broadway LLC, paid $50.1 million in cash, with the price subject to customary closing prorations, allocations and credits.

Insights

Real estate and REIT analyst

SITE Centers closed a $50.1M cash sale of a Chicago asset.

SITE Centers Corp., through a subsidiary, completed the sale of its interests in the 3030 North Broadway property in Chicago to L3 3030 Broadway LLC for $50.1 million in cash. The price is subject to standard closing prorations, allocations and credits.

This kind of transaction typically reflects routine portfolio management for a real estate-focused company, such as reallocating capital or exiting specific markets. However, the excerpt does not describe any intended use of proceeds, gain or loss on sale, or impact on future income.

Without information on income from this property, debt repayment, or reinvestment plans, the direct financial impact is unclear. Subsequent company communications or future periodic reports may detail how this $50.1 million sale fits into overall capital and portfolio strategy.

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 03, 2026

SITE Centers Corp.

(Exact name of Registrant as Specified in Its Charter)

Ohio			1-11690	34-1723097
(State or Other Jurisdiction of Incorporation)			(Commission File Number)	(IRS Employer Identification No.)
3300 Enterprise Parkway
Beachwood, Ohio				44122
(Address of Principal Executive Offices)				(Zip Code)

Registrant’s Telephone Number, Including Area Code: (216) 755-5500

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Shares, Par Value $0.10 Per Share		SITC		New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.01 Completion of Acquisition or Disposition of Assets.

On March 3, 2026, a subsidiary of SITE Centers Corp. completed the sale of its interests in 3030 North Broadway (Chicago, Illinois) to L3 3030 Broadway LLC for a price of $50.1 million in cash, subject to adjustment for certain closing pro-rations, allocations and credits.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			SITE Centers Corp.
Date:	March 4, 2026	By:	/s/ Aaron M. Kitlowski
			Name: Aaron M. Kitlowski Title: Executive Vice President, General Counsel and Secretary

FAQ

What transaction did SITE Centers Corp. (SITC) complete in this filing?

SITE Centers Corp. completed the sale of its interests in the 3030 North Broadway property in Chicago, Illinois. A subsidiary sold the asset to L3 3030 Broadway LLC, formally closing the transaction as described, with consideration paid entirely in cash at closing.

How much did SITE Centers Corp. (SITC) receive from the 3030 North Broadway sale?

The company received a cash purchase price of $50.1 million for its interests in 3030 North Broadway. That amount is subject to typical closing prorations, allocations and credits, which adjust for items like taxes, rents, and other agreed financial responsibilities at closing.

Who bought the 3030 North Broadway property from SITE Centers Corp. (SITC)?

The buyer of the 3030 North Broadway property interests was L3 3030 Broadway LLC. SITE Centers, through a subsidiary, transferred its stake in the Chicago, Illinois asset to this entity as part of a completed cash transaction described in the disclosure.

When did SITE Centers Corp. (SITC) close the sale of 3030 North Broadway?

The sale of SITE Centers’ interests in 3030 North Broadway closed on March 3, 2026. That is the effective completion date of the asset disposition by the company’s subsidiary to L3 3030 Broadway LLC under the stated cash transaction terms.

What form of consideration did SITE Centers Corp. (SITC) receive for the asset sale?

The seller received cash consideration for the transaction. Specifically, the price was $50.1 million in cash, subject to adjustment for customary closing prorations, allocations and credits tied to expenses, income, and other agreed financial items between seller and buyer.

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