Beachwood, Ohio, Nov 24 — SITE Centers Corp. (NYSE: SITC) announced today completion of the previously announced sale of East Hanover Plaza (East Hanover, NJ), Southmont Plaza (Easton, PA) and Stow Community Center (Stow, OH) for approximately $126.0 million, subject to adjustment for certain closing pro-rations, allocations and credits. At closing, approximately $38.2 million of sale proceeds were used to repay mortgage indebtedness.
The Company also announced today completion of the previously announced sale of Nassau Park Pavilion (Princeton, New Jersey) for approximately $137.6 million in cash, subject to adjustment for certain closing pro-rations, allocations and credits. At closing, the Company applied approximately $98.4 million of sale proceeds to the full repayment of a mortgage loan secured by the property and paid a related make-whole premium of approximately $7.0 million.