Short answer
SITE Centers Corp. (SITC) filed an 8-K current report with the SEC on May 20, 2026 reporting Item 1.01 (Entry into a Material Definitive Agreement). $50.0M cash sale of The Pike Outlets ground leasehold and related interests in Long Beach, California.
SITE Centers Corp. 8-K event analysis
AI summary of each reported item and its exhibits
Item 1.01 · Entry into a Material Definitive Agreement
- $50.0M cash sale of The Pike Outlets ground leasehold and related interests in Long Beach, California
- Estimated net proceeds of approximately $46.0M after prorations, credits, and other adjustments
- Due diligence expired May 14, 2026, reducing buyer termination flexibility under the agreement
- Closing targeted by end of Q3 2026, subject to city consent, tenant estoppels, and other conditions
- Purchaser’s approximately $1.5M deposit is generally nonrefundable, providing transaction support if closing fails absent limited exceptions
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