CURB grows portfolio 76% to 220 properties via acquisitions; net income falls to $6.9M on higher debt costs

Filed July 29, 2026 · Period ending June 30, 2026 · Compared to 10-Q Jul 29, 2025 · ~2 min read

Key Changes

• high

  Portfolio expanded from 125 to 220 properties (5.7M sq ft) through $582M of acquisitions in the year, funded by $823M in forward equity offerings and $500M in new debt (2026 Notes and 2025 Term Loan). Debt outstanding rose from $100M to $600M at a blended 5.0% rate.

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• high

  Net income attributable to Curbline fell to $10.5M for H1 2026 from $20.9M in H1 2025, driven by higher interest expense (sixfold debt increase), higher depreciation (larger asset base), and lower interest income (cash deployed into acquisitions). FFO rose 22% to $62.5M, reflecting NOI growth from the expanded portfolio.

  MD&A: Net Income & FFO verify on EDGAR →
• high

  Market equity increased 46% to $3.5B (share price +33% to $30.40; share count up from forward offerings). Debt-to-total-cap rose from 4% to 15%, still conservative. Company has $155M cash, $696M unsettled forward equity, and a $400M undrawn revolver for continued acquisitions.

  MD&A: Capitalization & Liquidity verify on EDGAR →