SITE Centers Corp. announced on December 31 2025 that it had sold the Perimeter Pointe shopping center in Atlanta, Georgia, for $48 million before closing costs and prorations. The 1.2‑million‑square‑foot power‑center, which had an occupancy rate of 96 % and generated $3.2 million in annual net operating income, was a high‑performing asset in the company’s portfolio.
The sale is part of SITE Centers’ broader portfolio‑reduction strategy, which has already generated more than $3.1 billion in proceeds since July 2023. The company used the proceeds to fully repay its $1.5 billion mortgage facility on December 18 2025, freeing up liquidity for future special dividends and the continued management of its remaining retail properties. The transaction underscores the firm’s intent to streamline operations and focus on core assets as it prepares for a potential wind‑down of its retail business.
Perimeter Pointe’s strong performance—high occupancy, robust rental income, and a sales‑per‑square‑foot figure above the regional average—made it a valuable asset to sell. The company cited the property’s mature cash flow profile and the opportunity to capture a premium in a market where comparable assets were trading at lower multiples. By divesting a high‑yielding asset, SITE Centers can reallocate capital to higher‑growth opportunities or return it to shareholders, aligning with its stated goal of maximizing shareholder value.
CEO David R. Lukes said the sale “demonstrates our disciplined approach to portfolio management and our commitment to delivering value to shareholders.” He added that the company will continue to market remaining properties, with the expectation that the proceeds will support a strategic wind‑down and potential dissolution of the company within the next five years. The transaction signals a decisive shift toward asset monetization and a focus on liquidity rather than expansion.
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