Curbline Properties Debuts as Independent REIT Focused on Suburban Centers

October 02, 2024 06:03 AM AEST | By Team Kalkine Media

Curbline Properties Debuts as Independent REIT Focused on Suburban Centers — Image source: Shutterstock

Headlines

Curbline Properties Completes Spin-Off, Begins Trading as Independent Company
Curbline Properties Specializes in High-Income Suburban Convenience Shopping Centers
Curbline Properties Elects REIT Status, Positioned for Growth in Key U.S. Markets

Curbline Properties Corp. (NYSE:CURB) has completed its spin-off from SITE Centers Corp. and is now an independent, publicly traded company. Curbline began trading on the New York Stock Exchange under the ticker symbol CURB. The company specializes in owning convenience shopping centers in high-income suburban areas, located at key intersections and major vehicular corridors.

Curbline plans to elect REIT status for U.S. federal income tax purposes. Shareholders of SITE Centers received two shares of Curbline common stock for each share of SITE Centers held as of September 23, 2024. David R. Lukes, President and CEO, expressed enthusiasm about establishing the first public real estate company focused solely on convenience properties in affluent U.S. submarkets, emphasizing the significant growth potential in this fragmented market.

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