SITE Centers Provides 2023 and YTD 2024 Transactions Update

SITE Centers Corp. (NYSE: SITC), an owner of open-air shopping centers in suburban, high household income communities, today provided an update on fourth quarter 2023 and first quarter to date 2024 transaction activity as part of presentations to certain investors in meetings hosted by Evercore ISI.

“SITE Centers closed on the sale of 12 properties in the fourth quarter bringing total dispositions since June 30, 2023 to $854.5 million including fourth quarter dispositions of $736.2 million at a blended 6.5% cap rate. The pace and scale of our asset sales are a testament to the quality of the SITE Centers portfolio and demand for well-positioned open-air shopping centers. We expect to close three additional properties with gross proceeds of roughly $120 million in the next few weeks with significant momentum on future asset sales,” commented David R. Lukes, President and Chief Executive Officer. “We also acquired $62.4 million of Convenience assets in the fourth quarter in key markets including Atlanta, Charlotte and Phoenix highlighting the opportunity set for Curbline Properties as we move closer to the expected spin-off date.”

Dispositions			SITE		Owned		Price
	Property Name	MSA	Own %		GLA		At 100%		At Share
10/23/23	Boston Portfolio (1)	Boston-Cambridge-Newton, MA-NH	100%		1,354		319,000		319,000
10/24/23	Cotswold Village	Charlotte-Concord-Gastonia, NC-SC	100%		263		110,400		110,400
10/27/23	Tampa Portfolio (2)	Tampa-St. Petersburg-Clearwater, FL	100%		441		97,900		97,900
11/03/23	Midtowne Park	Greenville-Anderson-Mauldin, SC	100%		167