SITE Centers Corp. announced a special cash distribution of $1.00 per common share to shareholders of record on December 15, 2025, payable on December 30, 2025. The company will use approximately $84.1 million of its available cash to repay in full the mortgage facility held with affiliates of Atlas SP Partners, L.P. and Athene Annuity and Life Company, thereby reducing its outstanding debt and strengthening its balance sheet.
The distribution is a return of capital funded by proceeds from asset sales. Since October 2023, SITE Centers has sold $3.7 billion of properties and declared over $380 million in special dividends, underscoring a liquidity position that supports a focus on returning value to shareholders as the company winds down operations.
The mortgage payoff aligns with the company’s strategy to simplify its capital structure and prepare for a voluntary delisting from the NYSE and eventual dissolution. By eliminating the $84.1 million debt, SITE Centers reduces leverage and improves financial flexibility during its transition.
The announcement follows Q3 2025 results that showed a net loss of $6.2 million versus a net income of $320.2 million a year earlier, and a decline in operating FFO. These figures reflect a contraction in core operations as the company sells assets and shifts its focus from operating performance to asset monetization.
Management has emphasized that selling the remaining portfolio and monetizing joint‑venture investments offers the best opportunity to maximize shareholder value, given strong private‑market demand and the company’s shrinking portfolio scale. The company plans to file for dissolution after monetizing its remaining assets.
The announcement was well received by investors, who viewed the capital return and debt reduction as positive signals amid the company’s strategic transition.
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