Curbline Properties announces tax basis

On October 1, 2024, Curbline Properties Corp. (CURB) completed its separation from SITE Centers Corp. (SITC) and became an independent publicly traded company. In the separation, SITC distributed two CURB common shares for every SITC common share held by SITC shareholders on the close of business on September 23, 2024. The fair market value of CURB’s common stock received by SITC shareholders in the Distribution for federal income tax purposes has been determined to be $22.29 per share based on the average closing price per share of CURB’s common stock on its first three trading days beginning October 1, 2024. The impact of the Distribution on SITE Centers shareholders’ basis in SITC common stock will be determined after the taxable year closes and will be noted on IRS Form 8937 with details expected to be available on SITE Centers’ website in the first quarter of 2025.