Curbline Properties Corp. released its 2025 Corporate Sustainability Report, marking the company's first overview of its sustainability efforts since becoming a standalone entity. The report, completed in alignment with the Task Force on Climate Related Financial Disclosures (TCFD), highlights a year of significant growth where the portfolio expanded by 81 properties. This document establishes baseline metrics to guide future decision-making and provides transparency for stakeholders.

David R. Lukes, President and Chief Executive Officer, emphasized the importance of the report in outlining the company's efforts to scale the fragmented convenience marketplace. The report details several key initiatives undertaken in 2025 to improve operational efficiency and sustainability across the portfolio.

2025 Sustainability Initiatives

The company implemented several measures to enhance energy efficiency and track environmental performance. A Nominating and Sustainability Committee, composed entirely of independent directors, was established to oversee the company's sustainability efforts and ensure the Board of Directors maintains the necessary balance of knowledge and expertise.

Key Investments and Metrics

Curbline Properties invested almost $1 million into new and more efficient HVAC units. These upgrades are estimated to have reduced annual energy usage by approximately 23%. Additionally, the company executed an underwriting framework for acquisitions designed to maximize operational efficiencies and incorporate energy sustainability initiatives during the onboarding process for new properties.

To gauge future performance, systems were implemented to measure and track utility usage across the portfolio. The company also inventoried green and public transportation options available across its properties as part of efforts to expand transit choices for shoppers, vendors, and tenant employees.

Curbline Properties is a self-managed real estate investment trust (REIT) traded on the NYSE under the ticker symbol "CURB". The company owns and manages convenience shopping centers positioned on the curbline of well-trafficked intersections in suburban, high household income communities.

Curbline Properties Corp. announced the pricing of an underwritten public offering of 10,000,000 shares of its common stock on a forward basis. The aggregate gross proceeds to the company are expected to be approximately $308.5 million. The offering is scheduled to close on July 1, 2026. The company, a self-managed real estate investment trust (REIT) traded on the NYSE under the symbol CURB, intends to use the net proceeds for general corporate purposes, which may include property acquisitions, working capital, capital expenditures, or debt repayment.

Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC and Wells Fargo Bank, National Association are acting as the forward purchasers, while Goldman Sachs & Co. LLC, Morgan Stanley and Wells Fargo Securities are acting as the underwriters. The underwriters have been granted a 30-day option to purchase up to an additional 1,500,000 shares of common stock. If this option is exercised, the company expects to enter into additional forward sale agreements with the forward purchasers corresponding to the number of shares subject to the option.

The forward purchasers or their affiliates intend to borrow and sell an aggregate of 10,000,000 shares to the underwriters, or 11,500,000 shares if the underwriters' option is exercised in full. However, a forward purchaser is not obligated to borrow and sell shares if borrowing costs exceed a specified threshold or if certain conditions are not met. In such instances, the company will issue and sell the undelivered shares directly to the underwriters, reducing the number of shares underlying the forward sale agreements accordingly.

The company intends to physically settle the forward sale agreements within approximately 18 months from the date of the prospectus supplement. Upon physical settlement, the company expects to issue and sell an aggregate of 10,000,000 shares to the forward purchasers, or up to 11,500,000 shares if the underwriters' option is fully exercised. The company retains the right to elect cash or net share settlement pursuant to the terms of the agreements.

Curbline Properties will not receive any proceeds from the sale of shares by the forward purchasers or their affiliates. The company plans to use the net proceeds, if any, received upon the settlement of the forward sale agreements and from any shares sold directly to the underwriters for general corporate purposes. All shares are offered pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission (SEC).