07:31 AM EDT, 09/17/2024 (MT Newswires) -- SITE Centers ( SITC ) said Tuesday it sold 13 wholly owned properties in Q3 so far for an aggregate gross price of $714.3 million, with net proceeds partly used to repay $159 million of the $530 million SITE Centers ( SITC ) mortgage facility.

The company said it also acquired six convenience shopping centers for an aggregate gross price of $111.2 million during the period.

In a separate release, SITE said Gerald Morgan has been appointed chief financial officer to succeed Conor Fennerty, who will become Curbline's CFO after the subsidiary's planned Oct. 1 spin-off. Morgan was previously CFO at Four Corners Property Trust.

At the time of its previously announced spin-off, Curbline Properties is expected to be capitalized with $600 million of cash, SITE said. Curbline also has a $400 million undrawn, unsecured line of credit, and a $100 million unsecured, delayed draw term loan, with no indebtedness, SITE said. Curbline will become an independent, publicly traded company listed on the New York Stock Exchange with the symbol "CURB."