SITE Centers Corp 2025年季度报告

SITE Centers Corp. (Exact name of registrant as specified in its charter) Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant toRule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reportingcompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and Accelerated filer☐Smaller reporting company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complyingwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ SITE Centers Corp.QUARTERLY REPORT ON FORM 10-Q TABLE OF CONTENTS PART I. FINANCIAL INFORMATION Item 1.Financial Statements – Unaudited Consolidated Balance Sheets as of March 31, 2025 and December 31, 2024Consolidated Statements of Operations for the Three Months Ended March 31, 2025 and 2024 Consolidated Statements of Comprehensive Income (Loss) for the Three Months Ended March 31, 2025 and 2024 SITE Centers Corp.CONSOLIDATED BALANCE SHEETS SITE Centers Corp.CONSOLIDATED STATEMENTS OF OPERATIONS SITE Centers Corp.CONSOLIDATED STATEMENTS OFCOMPREHENSIVE INCOME (LOSS) The accompanying notes are an integral part of these condensed consolidated financial statements. Notes to Condensed Consolidated Financial Statements 1.Nature of Business and Financial Statement Presentation Nature of Business SITE Centers Corp. and its related consolidated real estate subsidiaries (collectively, the “Company” or “SITE Centers”) andunconsolidated joint ventures are primarily engaged in the business of owning, leasing, acquiring, redeveloping and managingshopping centers. Unless otherwise provided, references herein to the Company or SITE Centers include SITE Centers Corp. and On October 1, 2024, the Company completed the spin-off of79convenience retail properties consisting of approximately2.7million square feet of gross leasable area (“GLA”) into a separate, publicly-traded company named Curbline Properties Corp.(“Curbline” or “Curbline Properties”). The spin-off of the convenience properties represented a strategic shift in the Company’s Use of Estimates in Preparation of Financial Statements The preparation of financial statements in conformity with generally accepted accounting principles (“GAAP”) requiresmanagement to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of Unaudited Interim Financial Statements These financial statements have been prepared by the Company in accordance with GAAP for interim financial informationand the applicable rules and regulations of the Securities and Exchange Commission. Accordingly, they do not include allinformation and footnotes required by GAAP for complete financial statements. However, in the opinion of management, theinterim financial statements include all adjustments, consisting of only normal recurring adjustments, necessary for a fair statementof the results of the periods presented. The results of operations for the three months ended March 31, 2025 and 2024, are not Principles of Consolidation The consolidated financial statements include the results of the Company and all entities in which the Company has acontrolling interest or has been determined to be the primary beneficiary of a variable interest entity. All significant intercompanybalances and transactions have been eliminated in consolidation. Investments in real estate joint ventures in which the Company Disposition of Real Estate For the three months ended March 31, 2025, the Company didnot sell any wholly-owned real estate; however, the Companyrecorded $8.4million of other property revenues in conjunction with the resolution of a condemnation proceeding with the State ofFlorida relating to business damages and compensation for land taken in 2022 at the Shoppes at Paradise Pointe. Of this amount, For the three months ended March 31, 2024, the Company soldthreewholly-owned shopping centers for a gross sales priceof$119.4millionresulting in gain on dispositions of $31.7million. Reclassifications Certain prior period amounts reported have been reclassified to conform with current year presentation. Statements of Cash Flows and Supplemental Disclosure of Non-Cash Investing and Financing Information Non-cash investing and financ