Curbline Properties Corp.
Business
Curbline Properties Corp. is a REIT that owns, leases, acquires and manages convenience shopping centers positioned on curblines of well-trafficked intersections and vehicular corridors in suburban, high-income communities across the Southeast, Mid-Atlantic, Southwest, Mountain regions and Texas. The company generates revenue from rental of its 176-property portfolio of approximately 4.8 million square feet of gross leasable area to a diversified mix of national, regional and local service and restaurant tenants. The portfolio is characterized by small-shop units under 10,000 square feet with standardized site plans, approximately half featuring drive-thru units, and tenants including Starbucks, Verizon, Inspire Brands and Chipotle.
Summary from 10-K filed 2026-02-10
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|
| Rental income | 182 | 120 | 93 | 73 | |
| Fee and other income | 910,000 | 853,000 | 656,000 | — | |
| Total revenue from operations | 183 | 121 | 94 | 73 | |
| Operating and maintenance | 25 | 14 | 11 | 7 | |
| Real estate taxes | 21 | 13 | 11 | 8 | |
| General and administrative | 34 | 17 | 5 | 4 | |
| Depreciation and amortization | 72 | 42 | 32 | 27 | |
| Total rental operation expenses | 152 | 87 | 59 | 46 | |
| Interest expense | −12 | −901,000 | −2 | −2 | |
| Interest income | 19 | 8 | 0 | 0 | |
| Other income (expense), net | 2 | −31 | −2 | −10,000 | |
| Gain on disposition of real estate, net | 1 | 0 | 371,000 | 0 | |
| Income before tax expense | 40 | 10 | 31 | 26 | |
| Tax expense of taxable REIT subsidiaries and state franchise and income taxes | −307,000 | −4,000 | 0 | 0 | |
| Net income | 40 | 10 | 31 | 26 | |
| Income attributable to non-controlling interests | −52,000 | −11,000 | 0 | 0 | |
| Net income attributable to Curbline | 40 | 10 | 31 | 26 | |
| Basic | 0.37 | 0.1 | 0.3 | 0.25 | |
| Diluted | 0.37 | 0.09 | 0.3 | 0.25 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Land | 759 | 491 | 316 | — | — | |
| Buildings | 1,304 | 842 | 622 | — | — | |
| Fixtures and tenant improvements | 107 | 81 | 59 | — | — | |
| Total real estate rental property | 2,171 | 1,413 | 997 | — | — | |
| Less: Accumulated depreciation | −209 | −165 | −136 | — | — | |
| Real estate rental property, net | 1,961 | 1,248 | 861 | — | — | |
| Construction in progress and land | 27 | 14 | 14 | — | — | |
| Total real estate assets, net | 1,988 | 1,262 | 875 | — | — | |
| Cash and cash equivalents | 290 | 626 | 566,000 | — | — | |
| Accounts receivable | 23 | 16 | 12 | — | — | |
| Amounts receivable from SITE Centers | 21 | 34 | 0 | — | — | |
| Intangible assets, net | 138 | 83 | 34 | — | — | |
| Other assets | 10 | 12 | 415,000 | — | — | |
| Total assets | 2,470 | 2,033 | 922 | — | — | |
| Senior notes, net | 175 | 0 | — | — | — | |
| Term loan, net | 248 | 0 | — | — | — | |
| Revolving credit facility | 0 | 0 | — | — | — | |
| Total indebtedness | 423 | 0 | — | — | — | |
| Below-market leases, net | 67 | 40 | 21 | — | — | |
| Dividends payable | 21 | 27 | 0 | 0 | — | |
| Accounts payable and other liabilities | 46 | 24 | 12 | — | — | |
| Total liabilities | 556 | 91 | 59 | — | — | |
| Commitments and contingencies (Note 7) | — | — | — | — | — | |
| Preferred Stock, par value $0.01 per share; 100,000,000 authorized; 0 shares outstanding at December 31, 2025 and December 31, 2024 | 0 | 0 | 0 | — | — | |
| Common Stock, par value $0.01 per share; 400,000,000 shares authorized; 105,368,120 and 105,043,781 shares outstanding at December 31, 2025 and December 31, 2024, respectively | 1 | 1 | 0 | — | — | |
| Additional paid-in-capital | 1,959 | 1,955 | 0 | — | — | |
| Accumulated distributions in excess of net income | −46 | −15 | 0 | — | — | |
| Accumulated other comprehensive (loss) income | −5 | 1 | 0 | — | — | |
| Total stockholders' equity | 1,909 | 1,942 | 863 | — | — | |
| Non-controlling interests | 4 | 773,000 | 0 | — | — | |
| Total equity | 1,913 | 1,943 | 863 | 692 | 389 | |
| Total liabilities and equity | 2,470 | 2,033 | 922 | — | — |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|
| Amortization and write-off of debt issuance costs | 2 | 346,000 | 161,000 | 161,000 | |
| Stock -based compensation | 13 | 4 | 0 | 0 | |
| Assumption of buildings due to ground lease terminations | −2 | −3 | 0 | 0 | |
| Net change in accounts receivable | −5 | −859,000 | −3 | −2 | |
| Net change in accounts payable and accrued expenses | 3 | 6 | −753,000 | −2 | |
| Net change in other operating assets and liabilities | 4 | −5 | −135,000 | 722,000 | |
| Total adjustments | 85 | 44 | 28 | 24 | |
| Net cash flow provided by operating activities | 125 | 54 | 59 | 50 | |
| Real estate acquired, net of liabilities and cash assumed | −785 | −419 | −163 | −305 | |
| Deposits for future acquisitions | −2 | −913,000 | 0 | 0 | |
| Real estate improvements to operating real estate | −17 | −18 | −23 | −19 | |
| Proceeds from disposition of real estate | 2 | 0 | 563,000 | 0 | |
| Net cash flow used for investing activities | −803 | −437 | −186 | −323 | |
| Proceeds from term loan | 250 | 0 | 0 | — | |
| Proceeds from unsecured notes | 178 | 0 | 0 | — | |
| Repayment of mortgage debt | 0 | −26 | −13 | −4 | |
| Payment of debt issuance costs | −4 | −5 | 0 | 0 | |
| Common stock offering expenses | −1 | 0 | 0 | — | |
| Taxes withheld for vested restricted stock | −3 | −23,000 | 0 | — | |
| Transactions with Parent | 0 | 1,040 | 140 | 278 | |
| Dividends paid | −77 | 0 | 0 | — | |
| Net cash flow provided by financing activities | 342 | 1,009 | 127 | 273 | |
| Net (decrease) increase in cash, cash equivalents and restricted cash | −337 | 626 | 131,000 | −245,000 |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is Curbline Properties Corp.'s CIK number?
Curbline Properties Corp.'s SEC CIK number is 0002027317 (2027317). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Curbline Properties Corp.'s SEC filings?
All of Curbline Properties Corp.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did Curbline Properties Corp. last report earnings?
Curbline Properties Corp. (CURB) most recently filed an earnings 8-K with the SEC on Apr 28, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001193125-26-183440). This is Curbline Properties Corp.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is Curbline Properties Corp.'s most recent earnings 8-K?
Curbline Properties Corp.'s latest earnings 8-K (Item 2.02) was filed Apr 28, 2026 under accession 0001193125-26-183440. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Curbline Properties Corp.'s latest earnings 8-K →
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