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Curbline Properties (CURB) investor relations material
Curbline Properties BofA Securities Global Real Estate Conference Presentation summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Company overview and market opportunity
Focuses on convenience properties in affluent U.S. suburban submarkets, with a 6M SF portfolio curated for demographics, credit, and growth potential.
Addressable market includes over 68,000 convenience centers nationwide, with $1.7B in acquisitions since October 2024 spin-off.
Acquired 62 properties YTD 2026 for $715M, including a record $374M in 2Q26 and $199M in 3Q26 to date.
Portfolio is highly diversified by tenant and geography, with 220 properties and a 96.5% leased rate.
Portfolio performance and leasing economics
YTD 2026 total portfolio NOI growth of 53.2% and same-property NOI growth of 2.1%.
Achieved +27% straight-line new leasing spreads and +18% renewal spreads in 2Q26.
Five-year average cash new leasing spreads of +27% and renewal spreads of +8%.
Limited capital needs, with 5-year average CapEx at 8% of NOI, supporting elevated free cash flow.
Tenant and asset diversification
70% of ABR from national tenants, 28% from publicly traded tenants, and only one tenant (Starbucks) above 2% ABR.
Over 1,200 unique tenants, with the lowest Top 20 tenant concentration among public open-air REITs.
Ground leases represent 9% of ABR, with strong leasing spreads and long-term value creation.
- Q2 2026 acquisitions and leasing drove FFO growth, with 2026 OFFO guidance raised.CURB
Q2 2026 - NOI up 50.7% year-over-year, 2026 guidance raised, and liquidity remains strong.CURB
Q1 2026 - Director elections, executive pay, and auditor ratification up for vote at the May 2026 meeting.CURB
Proxy filing - Annual meeting covers director elections, executive pay, auditor ratification, and ESG progress.CURB
Proxy filing - NOI, FFO, and net income surged in 2025, with 2026 guidance targeting 12% FFO growth.CURB
Q4 2025 - Virtual 2025 meeting to elect directors, ratify auditor, and review post-spin-off governance.CURB
Proxy Filing - Virtual annual meeting to elect directors and ratify auditor set for May 7, 2025.CURB
Proxy Filing - Q1 net income and FFO up on acquisitions and leasing; 2025 guidance raised.CURB
Q1 2025 - NOI up 30% year-over-year, 5.8% same-property growth, and strong liquidity support 2025 outlook.CURB
Q4 2024
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