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Item 3 — Quantitative and Qualitative Disclosures About Market Risk
Site Centers Corp. · 10-Q · Q2 FY2026 · Period ended Jun 30, 2026
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The Company’s primary market risk exposure is interest rate risk through its unconsolidated joint ventures. At June 30, 2026 and December 31, 2025, the Company had no outstanding consolidated debt. The Company’s unconsolidated joint ventures’ indebtedness at its carrying value is summarized as follows:
June 30, 2026 December 31, 2025
Joint Venture Debt (Millions) Company's Proportionate Share (Millions) Weighted- Average Maturity (Years) Weighted- Average Interest Rate Joint Venture Debt (Millions) Company's Proportionate Share (Millions) Weighted- Average Maturity (Years) Weighted- Average Interest Rate
Fixed-Rate Debt $ 371.1 $ 74.2 2.5 6.4 % $ 369.3 $ 73.9 3.0 6.4 %
Variable-Rate Debt $ — $ — — — $ 59.9 $ 29.8 0.9 5.0 %
An estimate of the effect of a 100 basis-point increase at June 30, 2026 and December 31, 2025, is summarized as follows (in millions):
June 30, 2026 December 31, 2025
Carrying Value Fair Value 100 Basis-Point Increase in Market Interest Rate Carrying Value Fair Value 100 Basis-Point Increase in Market Interest Rate
Company’s proportionate share of joint venture fixed-rate debt $ 74.2 $ 74.7 $ 73.0 $ 73.9 $ 75.7 $ 73.7
The Company has not entered, and does not plan to enter, into any derivative financial instruments for trading or speculative purposes. As of June 30, 2026, the Company had no other material exposure to market risk.
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