SITE Centers Announces Special Common Stock Distribution and Debt Payoff
SITE Centers Corp. (NYSE:SITC) announced today a special cash distribution on its common shares of $1.00 per common share payable on December 30, 2025 to shareholders of record at the close of business on December 15, 2025.
The Company also announced that it intends to use approximately $84.1 million of cash on hand to repay in full the mortgage facility in place with affiliates of Atlas SP Partners, L.P. and Athene Annuity and Life Company.
About SITE Centers Corp.
SITE Centers is an owner and manager of open-air shopping centers. 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.
Safe Harbor
SITE Centers considers portions of the information in this press release to be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, both as amended, with respect to the Company's expectation for future periods. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. For this purpose, any statements contained herein that are not historical fact may be deemed to be forward-looking statements. There are a number of important factors that could cause actual results to differ materially from those indicated by such forward-looking statements, including, among other factors, the Seller's ability to obtain the cooperation of the mortgage servicer in order to effectuate a full repayment of the mortgage loan and related release of collateral. The Company undertakes no obligation to revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.
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For additional information:
Gerald Morgan, EVP and
Chief Financial Officer
216-755-5500