Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2023

SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]

Real Estate and Accumulated Depreciation

SITE Centers Corp.

Real Estate and Accumulated Depreciation

December 31, 2023

(In thousands)

													Total Cost,
	Initial Cost				Total Cost(1)								Net of				Date of
			Buildings &				Buildings &				Accumulated		Accumulated				Construction (C)
Location	Land		Improvements		Land(2)		Improvements(3)		Total		Depreciation(4)		Depreciation		Encumbrances(5)		Acquisition (A)
Chandler, AZ		1,417		3,490		1,417		3,497		4,914		187		4,727		—	2022 (A)
Mesa, AZ		1,486		3,202		1,486		3,202		4,688		160		4,528		—	2022 (A)
Peoria, AZ		11,048		16,918		11,048		16,918		27,966		—		27,966		—	2023 (A)
Phoenix, AZ		18,701		18,929		18,701		26,768		45,469		14,467		31,002		—	1999 (A)
Phoenix, AZ		15,352		24,414		15,352		31,287		46,639		20,522		26,117		—	2003 (A)
Phoenix, AZ (Peoria)		15,090		36,880		18,399		48,787		67,186		18,672		48,514		—	2012 (A)
Scottsdale, AZ		6,424		7,684		6,424		7,697		14,121		547		13,574		—	2022 (A)
Scottsdale, AZ		1,756		4,404		1,756		4,404		6,160		240		5,920		—	2022 (A)
Tempe, AZ		2,451		4,640		2,451		4,660		7,111		262		6,849		—	2022 (A)
Fontana, CA		23,861		57,931		23,861		64,928		88,789		21,122		67,667		—	2014 (A)
Lafayette, CA		21,431		36,076		21,432		36,086		57,518		2,170		55,348		—	2022 (A)
Lafayette, CA		6,808		32,751		6,808		33,282		40,090		1,990		38,100		—	2022 (A)
Long Beach, CA		—		147,918		—		200,646		200,646		122,069		78,577		—	2005 (C)
Oakland, CA		4,361		33,538		4,361		33,538		37,899		11,787		26,112		—	2013 (A)
Roseville, CA		18,400		59,109		18,400		59,886		78,286		18,554		59,732		—	2014 (A)
Roseville, CA		5,174		7,923		5,174		8,586		13,760		2,641		11,119		—	2014 (A)
Centennial, CO		7,833		35,550		9,075		72,613		81,688		51,774		29,914		—	1997 (C)
Colorado Springs, CO		4,890		25,531		4,890		34,325		39,215		15,384		23,831		—	2011 (A)
Colorado Springs, CO		4,111		22,140		4,111		28,211		32,322		8,860		23,462		—	2011 (A)
Denver, CO		20,733		22,818		20,804		34,203		55,007		18,802		36,205		—	2003 (A)
Denver, CO		1,222		4,305		1,223		4,490		5,713		182		5,531		—	2022 (A)
Parker, CO		4,233		16,744		4,233		17,982		22,215		5,857		16,358		—	2003 (A)
Parker, CO		398		21,512		398		26,027		26,425		8,304		18,121		—	2003 (A)
Parker, CO		2,474		7,842		2,456		7,842		10,298		299		9,999		—	2023 (A)
Guilford, CT		4,588		41,892		6,457		64,913		71,370		16,463		54,907		—	2015 (C)
Boca Raton, FL		23,120		58,982		23,120		62,223		85,343		3,599		81,744		—	2022 (A)
Boynton Beach, FL		6,048		9,256		6,048		10,881		16,929		1,163		15,766		—	2021 (A)
Brandon, FL		—		4,111		—		27,783		27,783		6,140		21,643		—	1972 (C)
Brandon, FL		2,938		13,685		2,938		20,448		23,386		5,863		17,523		—	2013 (A)
Casselberry, FL		10,336		30,349		10,336		30,788		41,124		2,823		38,301		—	2022 (A)
Delray Beach, FL		12,664		26,006		12,664		26,228		38,892		2,404		36,488		16,551	2021 (A)
Estero, FL		3,504		13,286		3,504		13,300		16,804		84		16,720		—	2023 (A)
Fort Walton Beach, FL		3,643		5,612		3,462		6,244		9,706		1,358		8,348		—	2021 (A)
Jupiter, FL		8,764		20,051		8,764		21,873		30,637		2,431		28,206		—	2020 (A)
Miami, FL		11,626		30,457		26,743		122,827		149,570		63,939		85,631		—	2006 (C)
Naples, FL		10,172		39,342		10,172		44,674		54,846		14,857		39,989		—	2013 (A)
Orlando, FL		8,528		56,684		13,057		82,511		95,568		19,734		75,834		—	2016 (C)
Orlando, FL		9,451		16,424		9,451		16,906		26,357		1,875		24,482		—	2020 (A)
Palm Harbor, FL		1,137		4,089		1,137		5,799		6,936		4,581		2,355		—	1995 (A)
Plantation, FL		21,729		37,331		22,112		98,371		120,483		55,988		64,495		—	2007 (A)
Tamarac, FL		16,730		22,139		16,730		23,388		40,118		2,561		37,557		—	2021 (A)

SCHEDULE III

SITE Centers Corp.

Real Estate and Accumulated Depreciation

December 31, 2023

(In thousands)

													Total Cost,
	Initial Cost				Total Cost(1)								Net of				Date of
			Buildings &				Buildings &				Accumulated		Accumulated				Construction (C)
Location	Land		Improvements		Land(2)		Improvements(3)		Total		Depreciation(4)		Depreciation		Encumbrances(5)		Acquisition (A)
Tampa, FL		10,000		10,907		10,000		11,355		21,355		1,647		19,708		9,100	2019 (A)
Winter Garden, FL		38,945		130,382		38,945		141,806		180,751		50,792		129,959		—	2013 (A)
Alpharetta, GA		1,370		3,003		1,370		3,007		4,377		202		4,175		—	2022 (A)
Alpharetta, GA		1,489		7,489		1,490		7,542		9,032		189		8,843		—	2023 (A)
Atlanta, GA		14,078		41,050		14,078		48,529		62,607		22,465		40,142		—	2009 (A)
Atlanta, GA		12,358		17,103		12,365		17,590		29,955		1,579		28,376		—	2021 (A)
Atlanta, GA		2,719		5,379		2,719		5,406		8,125		301		7,824		—	2022 (A)
Cumming, GA		14,249		23,653		14,249		30,366		44,615		18,962		25,653		—	2003 (A)
Cumming, GA		6,851		49,659		6,851		53,679		60,530		18,676		41,854		—	2013 (A)
Douglasville, GA		2,839		5,511		2,839		7,582		10,421		2,027		8,394		—	2018 (A)
Kennesaw, GA		3,819		10,807		3,826		11,007		14,833		293		14,540		—	2023 (A)
Roswell, GA		6,566		15,005		7,894		29,833		37,727		15,546		22,181		—	2007 (A)
Snellville, GA		4,077		2,217		4,079		2,217		6,296		13		6,283		—	2023 (A)
Snellville, GA		10,185		51,815		7,859		53,133		60,992		31,635		29,357		—	2007 (A)
Suwanee, GA		13,479		23,923		13,335		39,257		52,592		22,469		30,123		—	2003 (A)
Chicago, IL		22,642		82,754		22,642		85,082		107,724		27,404		80,320		—	2014 (A)
Chicago, IL		23,588		45,632		23,588		46,026		69,614		12,083		57,531		—	2017 (A)
Schaumburg, IL		27,466		84,679		21,736		83,667		105,403		28,716		76,687		—	2013 (A)
Timonium, MD		4,380		9,921		4,366		9,957		14,323		363		13,960		—	2023 (A)
Framingham, MA		5,173		208		5,173		5,982		11,155		188		10,967		—	2013 (A)
Brentwood, MO		10,018		32,053		10,018		41,264		51,282		29,585		21,697		—	1998 (A)
East Hanover, NJ		3,847		23,798		3,847		29,961		33,808		16,564		17,244		—	2007 (A)
Edgewater, NJ		7,714		30,473		7,714		48,040		55,754		19,562		36,192		—	2007 (A)
Freehold, NJ		2,460		2,475		3,166		3,882		7,048		1,826		5,222		—	2005 (C)
Hamilton, NJ		8,039		49,896		10,014		99,766		109,780		56,681		53,099		—	2003 (A)
Princeton, NJ		17,991		82,063		18,998		124,748		143,746		80,008		63,738		100,000	1997 (A)
Voorhees, NJ		1,350		1,837		1,350		6,259		7,609		761		6,848		—	2020 (A)
Hempstead, NY		26,487		14,418		26,479		15,068		41,547		1,848		39,699		—	2020 (A)
Charlotte, NC		11,224		82,124		11,173		102,096		113,269		37,888		75,381		—	2012 (A)
Charlotte, NC		1,808		30,392		6,957		46,732		53,689		15,280		38,409		—	2013 (C)
Charlotte, NC		1,792		—		1,792		7,792		9,584		1,289		8,295		—	2017 (A)
Charlotte, NC		1,911		6,892		1,904		6,892		8,796		43		8,753		—	2023 (A)
Cornelius, NC		4,382		15,184		4,190		29,159		33,349		12,672		20,677		—	2007 (A)
Cincinnati, OH		19,572		54,495		19,572		81,230		100,802		26,188		74,614		—	2014 (A)
Columbus, OH		12,922		46,006		14,078		73,299		87,377		54,616		32,761		—	1998 (A)
Columbus, OH		18,716		64,617		20,666		76,279		96,945		28,930		68,015		—	2011 (A)
Stow, OH		993		9,028		993		48,267		49,260		29,824		19,436		—	1969 (C)
Portland, OR		20,208		50,738		20,208		66,808		87,016		28,844		58,172		—	2012 (A)
Portland, OR		10,122		37,457		10,122		38,455		48,577		5,653		42,924		—	2019 (A)
Easton, PA		7,691		20,405		7,691		21,412		29,103		3,280		25,823		—	2020 (A)
Brentwood, TN		6,101		25,956		6,101		28,192		34,293		9,931		24,362		—	2013 (A)

SCHEDULE III

SITE Centers Corp.

Real Estate and Accumulated Depreciation

December 31, 2023

(In thousands)

													Total Cost,
	Initial Cost				Total Cost(1)								Net of				Date of
			Buildings &				Buildings &				Accumulated		Accumulated				Construction (C)
Location	Land		Improvements		Land(2)		Improvements(3)		Total		Depreciation(4)		Depreciation		Encumbrances(5)		Acquisition (A)
Austin, TX		5,000		8,838		5,521		8,272		13,793		106		13,687		—	2023 (A)
Highland Village, TX		5,545		28,365		5,524		30,827		36,351		12,088		24,263		—	2013 (A)
Houston, TX		2,743		18,506		2,743		18,458		21,201		1,011		20,190		—	2022 (A)
Houston, TX		15,189		6,531		15,204		6,541		21,745		184		21,561		—	2023 (A)
Houston, TX		2,141		6,689		2,141		6,881		9,022		62		8,960		—	2023 (A)
Round Rock, TX		3,467		8,839		3,467		9,533		13,000		1,421		11,579		—	2019 (A)
San Antonio, TX		2,882		37,327		4,280		55,567		59,847		35,474		24,373		—	2002 (C)
San Antonio, TX		5,602		39,196		10,158		120,934		131,092		58,868		72,224		—	2007 (C)
San Antonio, TX		594		—		594		—		594		—		594		—	2022 (C)
Charlottesville, VA		2,181		6,571		2,181		6,657		8,838		593		8,245		—	2021 (A)
Charlottesville, VA		1,400		2,537		1,396		2,537		3,933		168		3,765		—	2021 (A)
Fairfax, VA		15,681		68,536		15,681		72,131		87,812		24,199		63,613		—	2013 (A)
Fairfax, VA		4,377		10,868		4,377		11,357		15,734		592		15,142		—	2022 (A)
Fairfax, VA		1,830		6,206		1,830		6,227		8,057		345		7,712		—	2022 (A)
Fairfax, VA		4,532		5,221		4,532		5,587		10,119		333		9,786		—	2022 (A)
Midlothian, VA		634		3,499		633		3,499		4,132		49		4,083		—	2023 (A)
Richmond, VA		7,331		49,278		7,330		52,428		59,758		5,785		53,973		—	2020 (A)
Richmond, VA		11,879		34,736		11,879		37,852		49,731		20,251		29,480		—	2007 (A)
Springfield, VA		17,016		40,038		17,016		45,448		62,464		24,166		38,298		—	2007 (A)
Portfolio Balance		14,915		213,983		14,915		213,983		228,898		117,144		111,754		—
	$	901,192	$	2,979,113	$	938,794	$	3,892,365	$	4,831,159	$	1,570,377	$	3,260,782	$	125,651

(1)The aggregate cost for federal income tax purposes was approximately $5.0 billion at December 31, 2023.

(2)Includes $8.3 million of undeveloped land at December 31, 2023.

(3)Includes $43.1 million of construction in progress at December 31, 2023.

(4)Depreciation and amortization is recorded on a straight-line basis over the estimated useful lives of the assets as follows:

Buildings	Useful lives, ranging from 30 to 40 years
Building improvements and fixtures	Useful lives, ranging from 3 to 20 years
Tenant improvements	Shorter of economic life or lease terms

(5)Excludes fair market value of debt adjustments and net loan costs aggregating $1.5 million.

The changes in Total Real Estate Assets are as follows (in thousands):

	For the Year Ended December 31,
	2023			2022			2021
Balance at beginning of year	$	5,433,159		$	5,238,881		$	4,989,388
Acquisitions		156,154			328,898			215,998
Developments, improvements and expansions		105,891			113,876			84,130
Adjustments of property carrying values (Impairments)	—				(2,536	)		(7,270	)
Disposals(A)		(864,045	)		(245,960	)		(43,365	)
Balance at end of year	$	4,831,159		$	5,433,159		$	5,238,881

(A)Includes the write-off of fully amortized tenant improvements.

The changes in Accumulated Depreciation and Amortization are as follows (in thousands):

	For the Year Ended December 31,
	2023			2022			2021
Balance at beginning of year	$	1,652,899		$	1,571,569		$	1,427,057
Depreciation for year		189,785			176,047			164,200
Disposals		(272,307	)		(94,717	)		(19,688	)
Balance at end of year	$	1,570,377		$	1,652,899		$	1,571,569