SITE Centers announces tax estimate for Curbline Properties distribution

SITE Centers Corp. (SITC) provided additional information related to the spin-off and distribution of Curbline Properties Corp. (CURB). On October 1, 2024, each shareholder of SITE Centers received two common shares of Curbline Properties in a taxable spin. The fair market value of the CURB shares received by SITE Centers shareholders for federal income tax purposes has been determined by SITE Centers to be $22.29 per CURB share. Based upon preliminary taxable net income analysis to date, the company estimates that approximately 21% of the CURB distribution constitutes a taxable capital gain and approximately 79% constitutes a return of capital. Full year 2024 operating results for SITE Centers could result in a change to the character of the CURB distribution. The final determination of the tax treatment of total 2024 distributions will be reported to SITE Centers shareholders on Form 1099-DIV, which will be issued in January 2025.