Significant Property Acquisitions
Curbline acquired $415 million of properties in the second quarter and third quarter to date, and closed a 23-property portfolio for $159 million.
Record Leasing Volume
The company reported its highest quarterly new leasing volume since tracking began, with almost 50,000 square feet of new leases signed.
Strong Financial Performance
NOI increased over 8% sequentially driven by organic growth and acquisitions, while same-property NOI was up 6.2% for the quarter.
Improved Lease Rate and Spreads
The lease rate increased to 96.1%, among the highest in the sector, and drove 22% blended straight-line leasing spreads for the trailing 12-month period.
Increased 2025 Guidance
The company raised its 2025 OFFO guidance to a range between $1 and $1.03 per share, driven by better-than-projected operations and acquisitions.
Strong Balance Sheet
Curbline ended the quarter with $430 million of cash and over $1 billion of liquidity, with a debt-to-EBITDA ratio expected to be less than 1x by year-end.