Curbline Properties Acquires 31 Convenience Centers for $386.3 Million Year-to-Date

NEW YORK — Curbline Properties Corp. (NYSE: CURB) has acquired 31 convenience shopping centers for $386.3 million year-to-date, the company announced June 1 in connection with presentations at NAREIT's REITweek 2026 Investor Conference.

The company also disclosed that it raised more than $100 million in equity during May 2026 through its at-the-market offering program, providing additional capital as it pursues further deals in what it describes as a highly fragmented convenience-center market.

Acquisition Volume and Equity Raise

Curbline Properties said it sold 3.9 million shares of common stock in May 2026 under its ATM program on a forward basis, with expected gross proceeds of $106.3 million. The company said those proceeds, along with cash on hand and unsettled forward equity sales from prior issuances, are expected to be used to fund acquisitions.

The company said it expects total second-quarter acquisitions to represent the highest quarterly volume since its spin-off, though it did not disclose specific second-quarter figures beyond the year-to-date total of $386.3 million across 31 properties.

"Through the first five months of the year, Curbline has acquired almost $400 million of assets and we are expecting total second quarter acquisitions to be the highest quarterly volume since our spin-off," said David Lukes, President and Chief Executive Officer. "Our pipeline of opportunities continues to expand as we benefit from the Company's network of relationships, track record and targeted approach to sourcing investments consistent with the existing portfolio."

Lukes added that the May equity raise provided "additional capital for acquisition opportunities in the highly fragmented but liquid marketplace for convenience centers."

Company Strategy and Property Focus

Curbline Properties positions itself as an owner and manager of convenience shopping centers located on the curbline of well-trafficked intersections and major vehicular corridors in suburban, high household income communities. The company is structured as a self-managed real estate investment trust.

The company's own characterization of the convenience-center market as "highly fragmented but liquid" points to a landscape in which the company believes well-capitalized buyers can identify and acquire assets on an ongoing basis. Curbline's use of an ATM equity program to fund acquisitions reflects a capital approach in which equity is issued incrementally and proceeds are deployed into acquisitions as opportunities arise.

"Looking forward, we believe Curbline remains uniquely positioned for growth given its differentiated investment focus, the leasing economics of the Company's property type, and its balance sheet," Lukes said.

Forward-Looking Risks

Curbline Properties noted in its announcement that there are a number of important factors that could cause its results to differ materially from those indicated by forward-looking statements. Those factors include changes in broad economic and local conditions such as inflation, interest rate volatility, and market reaction to tariffs and other trade policies; changes in the supply of or demand for retail real estate space in its geographic markets; the impact of shifts in consumer trends and retailing practices; and the company's dependence on rental income tied to tenant financial health.

Additional risk factors cited include the company's ability to secure debt and equity financing on commercially acceptable terms, the illiquidity of real estate investments, potential property damage from natural disasters or public health crises, cybersecurity risks, and the ability to maintain its REIT status under applicable tax laws. The company said it undertakes no obligation to publicly revise its forward-looking statements to reflect events or circumstances that arise after the date of the announcement.

Curbline Properties Corp. trades on the New York Stock Exchange under the ticker symbol CURB. Additional information is available at www.curbline.com.

Sources: Curbline Properties Second Quarter 2026 Investment and Capital Markets Update