SITE Centers (SITC) completes major center sales and mortgage paydowns

Rhea-AI Filing Summary

SITE Centers Corp. completed two previously announced property sales on November 21, 2025. Subsidiaries sold interests in East Hanover Plaza, Southmont Plaza and Stow Community Center to affiliates of Haverford Retail Partners for $126.0 million in cash, and used approximately $38.2 million of the proceeds to repay mortgage indebtedness. The company also sold its interest in Nassau Park Pavilion to B33 Nassau Park Pavilion III LLC for approximately $137.6 million in cash, applying approximately $98.4 million to fully repay a mortgage loan secured by that property and paying a related make-whole premium of approximately $7.0 million.

Insights

Real estate and capital structure analyst

SITE Centers sells four centers, using cash to retire property debt.

SITE Centers Corp. reports closing sales of interests in three shopping centers for $126.0 million and Nassau Park Pavilion for approximately $137.6 million, both in cash. These transactions complete previously announced dispositions, simplifying the property portfolio while converting real estate interests into cash.

The company directed approximately $38.2 million of the first sale’s proceeds to repay mortgage indebtedness and used approximately $98.4 million from the Nassau Park Pavilion sale to fully repay a mortgage loan secured by that property. It also incurred a make-whole premium of approximately $7.0 million, showing a willingness to pay a one-time cost to eliminate this debt.

These steps reduce secured borrowings tied to the sold assets, and the cash amounts, repayment decisions and make-whole premium are now fixed as of November 21, 2025. Subsequent periodic reports may give more detail on how the remaining net proceeds affect liquidity, leverage and future investment activity.

8-K Event Classification

Item 2.01 — Completion of Acquisition or Disposition of Assets

1 item

Item 2.01 Completion of Acquisition or Disposition of Assets Financial

The company completed a significant acquisition or sale of business assets.

Understanding 8-K Material Events →

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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): November 21, 2025

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 November 21, 2025, subsidiaries of SITE Centers Corp. (the “Company”) completed the previously announced sale of their interests in East Hanover Plaza (East Hanover, NJ), Southmont Plaza (Easton, PA) and Stow Community Center (Stow, OH) to affiliates of Haverford Retail Partners for an aggregate price of $126.0 million in cash, subject to adjustment for certain closing pro-rations, allocations and credits. At closing, approximately $38.2 million of sale proceeds were used to repay mortgage indebtedness.

Also on November 21, 2025, a subsidiary of the Company completed the previously announced sale of its interests in Nassau Park Pavilion (Princeton, New Jersey) to B33 Nassau Park Pavilion III LLC for an aggregate price of approximately $137.6 million in cash, subject to adjustment for certain closing pro-rations, allocations and credits. At closing, the Company applied approximately $98.4 million of sale proceeds to the full repayment of a mortgage loan secured by the property and paid a related make-whole premium of approximately $7.0 million.

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:	November 24, 2025	By:	/s/ Aaron M. Kitlowski
			Name: Aaron M. Kitlowski Title: Executive Vice President, General Counsel and Secretary

FAQ

What properties did SITE Centers Corp. (SITC) sell in this transaction?

The company’s subsidiaries sold their interests in East Hanover Plaza (East Hanover, NJ), Southmont Plaza (Easton, PA), Stow Community Center (Stow, OH), and Nassau Park Pavilion (Princeton, New Jersey).

How much cash did SITE Centers receive from the shopping center sales?

The interests in East Hanover Plaza, Southmont Plaza and Stow Community Center were sold for $126.0 million in cash, and the interest in Nassau Park Pavilion was sold for approximately $137.6 million in cash, each subject to customary closing adjustments.

How were the sale proceeds used by SITE Centers Corp.?

From the first group of centers, approximately $38.2 million of proceeds were used to repay mortgage indebtedness. From the Nassau Park Pavilion sale, approximately $98.4 million were applied to fully repay a mortgage loan secured by that property, and the company paid a related make-whole premium of approximately $7.0 million.

Who were the buyers of the properties sold by SITE Centers (SITC)?

Affiliates of Haverford Retail Partners acquired East Hanover Plaza, Southmont Plaza and Stow Community Center. B33 Nassau Park Pavilion III LLC acquired the company’s interest in Nassau Park Pavilion.

When did SITE Centers Corp. complete these property sales?

Both the sale of East Hanover Plaza, Southmont Plaza and Stow Community Center, and the sale of Nassau Park Pavilion, were completed on November 21, 2025.

Did SITE Centers incur any additional costs related to the debt repayment?

Yes. In connection with the full repayment of the mortgage loan secured by Nassau Park Pavilion, the company paid a related make-whole premium of approximately $7.0 million.