SITE Centers Corp. Enters Material Definitive Agreement
Ticker: SITC · Form: 8-K · Filed: Oct 2, 2025 · CIK: 894315
Sentiment: neutral
Topics: material-agreement, corporate-action
TL;DR
SITE Centers Corp. signed a big deal on 9/30/25. Details TBD.
AI Summary
On September 30, 2025, SITE Centers Corp. entered into a material definitive agreement. The filing does not disclose the specific details of this agreement, but it is classified under "Entry into a Material Definitive Agreement."
Why It Matters
This filing indicates a significant new agreement for SITE Centers Corp., which could impact its future operations and financial performance.
Risk Assessment
Risk Level: medium — The nature of the material definitive agreement is not disclosed, creating uncertainty about its potential impact.
Key Numbers
- 1-11690 — SEC File Number (Identifier for SITE Centers Corp.)
- 34-1723097 — IRS Employer Identification No. (Tax identification for SITE Centers Corp.)
Key Players & Entities
- SITE Centers Corp. (company) — Registrant
- September 30, 2025 (date) — Date of earliest event reported
- 3300 Enterprise Parkway (location) — Principal Executive Offices
- Beachwood, Ohio (location) — Principal Executive Offices
- DDR CORP (company) — Former Company Name
- DEVELOPERS DIVERSIFIED REALTY CORP (company) — Former Company Name
FAQ
What is the nature of the material definitive agreement entered into by SITE Centers Corp. on September 30, 2025?
The filing states that SITE Centers Corp. entered into a material definitive agreement on September 30, 2025, but the specific details of this agreement are not disclosed in the provided text.
What is the principal executive office address for SITE Centers Corp.?
The principal executive offices of SITE Centers Corp. are located at 3300 Enterprise Parkway, Beachwood, Ohio 44122.
What is the SEC file number for SITE Centers Corp.?
The SEC file number for SITE Centers Corp. is 001-11690.
Has SITE Centers Corp. had previous names?
Yes, SITE Centers Corp. was formerly known as DDR CORP and DEVELOPERS DIVERSIFIED REALTY CORP.
What is the fiscal year end for SITE Centers Corp.?
The fiscal year end for SITE Centers Corp. is December 31.
Filing Stats: 767 words · 3 min read · ~3 pages · Grade level 13.2 · Accepted 2025-10-02 16:05:28
Key Financial Figures
- $0.10 — h registered Common Shares, Par Value $0.10 Per Share SITC New York Stock Excha
- $137.6 million — for an aggregate price of approximately $137.6 million in cash, subject to adjustment for cert
- $98.5 million — ding principal balance of approximately $98.5 million. Based on current interest rates, upon
- $7.6 million — y a make-whole premium of approximately $7.6 million in connection with its repayment of the
- $6.9 million — r has posted a deposit of approximately $6.9 million with the escrow agent for the transacti
Filing Documents
- sitc-20250930.htm (8-K) — 44KB
- 0001193125-25-228296.txt ( ) — 144KB
- sitc-20250930.xsd (EX-101.SCH) — 23KB
- sitc-20250930_htm.xml (XML) — 4KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement. On September 30, 2025, the general due diligence period expired under the Purchase and Sale Agreement, dated as of September 18, 2025 (as amended, the " Purchase Agreement "), by and between a subsidiary (the " Seller ") of SITE Centers Corp. (the " Company "), and B33 Nassau Park Pavilion III LLC (the " Purchaser "). Pursuant to the Purchase Agreement, the Seller has agreed to sell to the Purchaser all of its interests in Nassau Park Pavilion (Princeton, New Jersey) for an aggregate price of approximately $137.6 million in cash, subject to adjustment for certain closing pro-rations, allocations and credits. The property is currently encumbered by a mortgage loan with an outstanding principal balance of approximately $98.5 million. Based on current interest rates, upon the sale's closing the Company expects to pay a make-whole premium of approximately $7.6 million in connection with its repayment of the mortgage loan. Closing remains subject to customary conditions, including, but not limited to, delivery of estoppel letters from tenants, the accuracy of the Seller's representations in all material respects and the absence of certain casualty or condemnation events. The Purchaser has posted a deposit of approximately $6.9 million with the escrow agent for the transaction, which deposit is nonrefundable (except in certain limited circumstances as set forth in the Purchase Agreement) and will be credited to the Purchaser against the purchase price at closing. Closing of the sale is expected to occur in the fourth quarter of 2025. Safe Harbor The Company considers information in this Current Report that relates to expectations for future periods 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. Although the Company believes that the expectations reflected in such forward-looking statements
SIGNATURES
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: October 2, 2025 By: /s/ Aaron M. Kitlowski Name: Aaron M. Kitlowski Title: Executive Vice President, General Counsel and Secretary