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Like many other REIT reports for the third quarter, it is blue skies ahead for SITE Centers Corp., where new leasing volume was at its highest in a number of years. So said CEO David Lukes on the firm’s Q3 earnings call. “We exceeded our 2021 investment goals with the closing of Hammond Springs and subsequent to quarter-end, RVI distributed $190 million to SITE Centers.” Those accomplishments, he said, position the company for sustainable growth going forward.

He began the Q3 earnings call by noting that the firm collected 99% of its build rent for the quarter. “Looking back to 2020, we’ve now collected 96% of 2020 base rent, including $21 million of deferral repayments,” he said. “Our tenant assistance program, which effectively ended in 2020, has now collected 98% of the deferred rent due, which is really a testament to the durability of our portfolio cash flow, the credit strength of our tenant base, and the quality of our team and our real estate.”

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