Site Centers announces two sales, special cash distribution

Site Centers (SITC) announced the sale of Winter Garden Village (Orlando, FL) for $165M and the sale of Deer Valley Towne Center (Phoenix, AZ) for $33.7M, both prior to closing costs, prorations and other closing adjustments. A portion of net proceeds were used to repay $22.3M of mortgage debt. The company’s Board of Directors also declared a special cash distribution on its common shares of $3.25 per common share payable on August 29 to shareholders of record at the close of business on August 15.