SITE Centers Corp. sold the Parker Pavilions shopping center in Parker, Colorado, for $8.4 million, including all closing costs and adjustments.
$6.1 million of the net proceeds were used to repay outstanding mortgage debt, reducing the company’s leverage, while the remaining $2.3 million was added to cash reserves to support future dividend distributions and reinvestment opportunities.
The sale is part of SITE Centers’ portfolio‑optimization strategy to divest legacy open‑air shopping centers and focus on higher‑yield assets. It follows the recent sale of Edgewater Towne Center in New Jersey for $53.5 million, underscoring the company’s active portfolio management.
SITE Centers has a current ratio of 1.33 and has maintained dividend payments for 33 consecutive years, indicating a solid liquidity position. The company will report its third‑quarter 2025 earnings on Wednesday, November 5, 2025.
The transaction reflects a broader trend in the retail REIT sector, where firms are actively managing holdings to enhance returns and reduce exposure to underperforming assets.
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