<SEC-DOCUMENT>0001193125-26-252423.txt : 20260602
<SEC-HEADER>0001193125-26-252423.hdr.sgml : 20260602
<ACCEPTANCE-DATETIME>20260602063028
ACCESSION NUMBER:		0001193125-26-252423
CONFORMED SUBMISSION TYPE:	424B5
PUBLIC DOCUMENT COUNT:		13
FILED AS OF DATE:		20260602
DATE AS OF CHANGE:		20260602

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Curbline Properties Corp.
		CENTRAL INDEX KEY:			0002027317
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE [6500]
		ORGANIZATION NAME:           	05 Real Estate & Construction
		EIN:				934224532
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		424B5
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-290653
		FILM NUMBER:		261053542

	BUSINESS ADDRESS:	
		STREET 1:		320 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		216-755-5500

	MAIL ADDRESS:	
		STREET 1:		3300 ENTERPRISE PARKWAY
		CITY:			BEACHWOOD
		STATE:			OH
		ZIP:			44122
</SEC-HEADER>
<DOCUMENT>
<TYPE>424B5
<SEQUENCE>1
<FILENAME>d111323d424b5.htm
<DESCRIPTION>424B5
<TEXT>
<HTML><HEAD>
<TITLE>424B5</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE" STYLE="line-height:Normal">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Filed Pursuant to Rule 424(b)(5)<BR> Registration Statement No. 333-290653 </B></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7.5pt; font-family:Times New Roman"><B>PROSPECTUS SUPPLEMENT </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7.5pt; font-family:Times New Roman"><B>(To Prospectus dated October&nbsp;1, 2025) </B></P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:16pt; font-family:Times New Roman" ALIGN="center"><B>$400,000,000 </B></P> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g111323g01g01.jpg" ALT="LOGO" STYLE="width:3.04599in;height:0.859056in;">
 </P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>CURBLINE PROPERTIES CORP. </B></P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Common Stock </B></P>
<P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center><DIV STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</DIV></center>
<P STYLE="margin-top:3pt; margin-bottom:0pt; text-indent:3%; font-size:7.5pt; font-family:Times New Roman">Curbline Properties Corp. (the &#8220;Company&#8221;) has entered into an ATM Equity Offering Sales Agreement, dated June&nbsp;2, 2026 (the
&#8220;Equity Sales Agreement&#8221;), with Jefferies LLC, BNY Mellon Capital Markets, LLC, BofA Securities, Inc., BTIG, LLC, Capital One Securities, Inc., Goldman Sachs&nbsp;&amp; Co. LLC, KeyBanc Capital Markets Inc., Morgan Stanley&nbsp;&amp; Co.
LLC, Nomura Securities International, Inc., StoneX Financial Inc. and Wells Fargo Securities, LLC, as sales agents (except in the case of Nomura Securities International, Inc. and StoneX Financial Inc.), principals (except in the case of Nomura
Securities International, Inc. and StoneX Financial Inc.) and/or Forward Sellers (as defined below) (except in the case of BTIG, LLC and Capital One Securities, Inc.) (in any such capacity, each, an &#8220;Agent,&#8221; and, collectively, the
&#8220;Agents&#8221;) and the Forward Purchasers (as defined below), relating to shares of its common stock, $0.01 par value per share (&#8220;common stock&#8221;), offered by this prospectus supplement and the accompanying prospectus pursuant to a
continuous offering program. In accordance with the terms of the Equity Sales Agreement, an aggregate gross sales price of up to $400&nbsp;million of shares of our common stock may be offered and sold from time to time through the Agents, as our
sales agents or, if applicable, as Forward Sellers (as defined below), or directly to the Agents, as principals. </P> <P STYLE="margin-top:3pt; margin-bottom:0pt; text-indent:3%; font-size:7.5pt; font-family:Times New Roman">In connection with the
entry into the Equity Sales Agreement, the Company&#8217;s <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">&#8220;at-the-market&#8221;</FONT></FONT> equity offering program pursuant to the Company&#8217;s prior equity sales
agreement, dated as of October&nbsp;1, 2025 (the &#8220;Prior Equity Sales Agreement&#8221;), was terminated. As of its termination, shares of common stock having an aggregate offering price of approximately $7.1&nbsp;million were not sold under the
Prior Equity Sales Agreement. In addition, shares of common stock having an aggregate offering price of approximately $199.9&nbsp;million are subject to outstanding forward sale agreements entered into pursuant to the Prior Equity Sales Agreement
that will remain outstanding following its termination in accordance with the terms of such forward sale agreements. </P> <P STYLE="margin-top:3pt; margin-bottom:0pt; text-indent:3%; font-size:7.5pt; font-family:Times New Roman">There are certain
restrictions on transfer and ownership of our common stock intended to, among other things, preserve our qualification as a real estate investment trust (&#8220;REIT&#8221;) for federal income tax purposes. See &#8220;Description of Capital
Stock&#8212;Restrictions on Ownership and Transfer&#8221; in the accompanying prospectus. </P> <P STYLE="margin-top:3pt; margin-bottom:0pt; text-indent:3%; font-size:7.5pt; font-family:Times New Roman">Sales of shares of our common stock, if any,
under this prospectus supplement and the accompanying prospectus may be made in (1)&nbsp;negotiated transactions, which may include block trades, as the Company and such Agent may agree or (2) &#8220;at-the-market&#8221; offerings (as defined in
Rule 415 under the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder (the &#8220;Securities Act&#8221;)) by means of ordinary brokers&#8217; transactions on the New York Stock Exchange (the &#8220;NYSE&#8221;)
or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices, by privately negotiated transactions (including block sales) or by any other methods permitted by applicable law.
The Agents are not required to sell any specific number or dollar amount of shares of our common stock, but will use their commercially reasonable efforts as our sales agents or as Forward Sellers and subject to the terms of the Equity Sales
Agreement, to sell the shares of our common stock offered by this prospectus supplement, as instructed by us. </P> <P STYLE="margin-top:3pt; margin-bottom:0pt; text-indent:3%; font-size:7.5pt; font-family:Times New Roman">The Equity Sales Agreement
contemplates that, in addition to the issuance and sale by us of shares of our common stock to or through the Agents acting as our agents, we may enter into one or more separate forward sale agreements (each, a &#8220;forward sale agreement&#8221;
and, collectively, the &#8220;forward sale agreements&#8221;), with certain of the Agents (or affiliates thereof) (in such capacity, each, a &#8220;Forward Purchaser&#8221; and, collectively, the &#8220;Forward Purchasers&#8221;). If we enter into a
forward sale agreement with any Forward Purchaser, we expect that such Forward Purchaser or one of its affiliates will attempt to borrow from third parties and sell, through the relevant Agent, acting as sales agent for such Forward Purchaser (in
such capacity, a &#8220;Forward Seller&#8221;), shares of our common stock to hedge such Forward Purchaser&#8217;s exposure under such forward sale agreement. Each Forward Purchaser will be either one of the Agents or an affiliate thereof, and,
unless otherwise expressly stated or the context otherwise requires, references herein to the &#8220;related&#8221; or &#8220;relevant&#8221; Forward Purchaser mean, with respect to any Agent, the affiliate of such Agent that is acting as Forward
Purchaser or, if applicable, such Agent acting in its capacity as Forward Purchaser. We will not receive any proceeds from any sale of borrowed shares of our common stock through an Agent, as Forward Seller, and all such proceeds will be paid to the
relevant Forward Purchaser (or an affiliate thereof). </P> <P STYLE="margin-top:3pt; margin-bottom:0pt; text-indent:3%; font-size:7.5pt; font-family:Times New Roman">We currently expect to fully physically settle each forward sale agreement, if any,
with the relevant Forward Purchaser on one or more dates specified by us on or prior to the maturity date of such forward sale agreement, in which case we expect to receive aggregate net cash proceeds on each settlement date equal to the number of
shares underlying such forward sale agreement that are being settled multiplied by the relevant forward sale price per share. However, subject to certain exceptions, we may also elect, in our sole discretion, to cash settle or net share settle all
or any portion of our obligations under any forward sale agreement, in which case we may not receive any proceeds (in the case of cash settlement) or will not receive any proceeds (in the case of net share settlement), and we may owe cash (in the
case of cash settlement) or shares of our common stock (in the case of net share settlement) to the relevant Forward Purchaser. For additional information, see &#8220;Plan of Distribution&#8221; in this prospectus supplement. </P>
<P STYLE="margin-top:3pt; margin-bottom:0pt; text-indent:3%; font-size:7.5pt; font-family:Times New Roman">Each Agent will receive from us a commission that will not exceed, but may be lower than, 2.0% of the gross sales price of shares of our
common stock sold through it as a sales agent. In connection with each forward sale agreement, we will pay the applicable Agent, as Forward Seller, a commission, in the form of a reduction to the initial forward sale price under the related forward
sale agreement, at a mutually agreed rate that will not exceed, but may be lower than, 2.0% of the gross sales price of the borrowed shares of our common stock sold through such Agent, as Forward Seller, during the applicable forward selling period
for such shares. In connection with the sale of shares of our common stock, each Agent may be deemed to be an &#8220;underwriter&#8221; within the meaning of the Securities Act, and the compensation paid to each Agent (including, in the case of
Agent, as Forward Seller, in the form of a reduction to the initial forward sale price under the related forward sale agreement) may be deemed to be underwriting commissions or discounts. There are no agreements for funds to be received in escrow,
trust or similar relationship. Under the terms of the Equity Sales Agreement, we may also sell shares of our common stock to each of the Agents, as principal, at a price agreed upon at the time of sale. If we sell shares of our common stock to any
Agent as principal, we will enter into a separate terms agreement with the Agent, setting forth the terms of such transaction, and we will describe the agreement in a separate prospectus supplement or pricing supplement. </P>
<P STYLE="margin-top:3pt; margin-bottom:0pt; text-indent:3%; font-size:7.5pt; font-family:Times New Roman">The offering of shares of our common stock pursuant to the Equity Sales Agreement will terminate upon the earlier of (1)&nbsp;the sale of
shares of our common stock subject to the Equity Sales Agreement having an aggregate gross sales price of $400&nbsp;million and (2)&nbsp;the termination of the Equity Sales Agreement by us, the Agents or the Forward Purchasers. </P>
<P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center><DIV STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</DIV></center>
<P STYLE="margin-top:3pt; margin-bottom:0pt; text-indent:4%; font-size:8.5pt; font-family:Times New Roman"><B>Investing in our common stock involves risks. See the information under the caption &#8220;<U><A HREF="#supptx111323_5">Risk
Factors</A></U>&#8221; on page <FONT STYLE="white-space:nowrap">S-5</FONT> of this prospectus supplement, the risk factors in our periodic reports filed from time to time with the Securities and Exchange Commission (&#8220;SEC&#8221;) and any risk
factors set forth in the documents incorporated by reference into this prospectus supplement, concerning factors you should consider before making a decision to invest in our common stock. </B></P>
<P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center><DIV STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</DIV></center>
<P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8.5pt">


<TR>

<TD WIDTH="23%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="25%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="25%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="24%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8.5pt">
<TD VALIGN="top" NOWRAP ALIGN="center"><B>Jefferies</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center"><B>BNY Capital Markets</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center"><B>BofA Securities</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center"><B>BTIG</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8.5pt">
<TD VALIGN="top" NOWRAP ALIGN="center"><B>Capital One Securities</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3" NOWRAP ALIGN="center"><B>Goldman Sachs&nbsp;&amp; Co. LLC</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center"><B>KeyBanc Capital Markets</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8.5pt">
<TD VALIGN="top" NOWRAP ALIGN="center"><B>Morgan Stanley</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3" NOWRAP ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8.5pt; font-family:Times New Roman" ALIGN="center"><B>StoneX Financial Inc.</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center"><B>Wells Fargo Securities</B></TD></TR>
</TABLE> <P STYLE="margin-top:3pt; margin-bottom:0pt; text-indent:3%; font-size:7.5pt; font-family:Times New Roman">Our common stock is listed on the NYSE under the symbol &#8220;CURB.&#8221; On June&nbsp;1, 2026, the last
reported sale price of our common stock on the NYSE was $28.67 per share. </P> <P STYLE="margin-top:3pt; margin-bottom:0pt; font-size:7.5pt; font-family:Times New Roman" ALIGN="center"><B>The date of this prospectus supplement is June&nbsp;2, 2026
</B></P> <P STYLE="margin-top:3pt; margin-bottom:0pt; text-indent:3%; font-size:7.5pt; font-family:Times New Roman"><B>Neither the SEC nor any state or other securities commission has approved or disapproved of these securities or passed upon the
adequacy or accuracy of this prospectus supplement or the accompanying prospectus. Any representation to the contrary is a criminal offense. </B></P>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="toc"></A>TABLE OF CONTENTS </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Prospectus Supplement </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="95%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#supptx111323_1">ABOUT THIS PROSPECTUS SUPPLEMENT</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="white-space:nowrap">S-1</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#supptx111323_2">CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="white-space:nowrap">S-2</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#supptx111323_3">PROSPECTUS SUPPLEMENT SUMMARY</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="white-space:nowrap">S-3</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#supptx111323_4">THE OFFERING</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="white-space:nowrap">S-4</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#supptx111323_5">RISK FACTORS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="white-space:nowrap">S-5</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#supptx111323_6">USE OF PROCEEDS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="white-space:nowrap">S-9</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#supptx111323_7">PLAN OF DISTRIBUTION</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="white-space:nowrap">S-10</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#supptx111323_8">LEGAL MATTERS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="white-space:nowrap">S-15</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#supptx111323_9">EXPERTS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="white-space:nowrap">S-16</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#supptx111323_10">WHERE YOU CAN FIND MORE INFORMATION</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="white-space:nowrap">S-17</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#supptx111323_11">INCORPORATION OF CERTAIN INFORMATION BY REFERENCE</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="white-space:nowrap">S-17</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Prospectus </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="97%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#tx111323_1">ABOUT THIS PROSPECTUS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#tx111323_2">CURBLINE PROPERTIES CORP</A>.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#tx111323_3">WHERE YOU CAN FIND MORE INFORMATION</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#tx111323_4">INCORPORATION OF CERTAIN INFORMATION BY REFERENCE</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#tx111323_5">CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#tx111323_6">RISK FACTORS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#tx111323_7">USE OF PROCEEDS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#tx111323_8">DESCRIPTION OF CAPITAL STOCK</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#tx111323_9">DESCRIPTION OF DEPOSITARY SHARES</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">11</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#tx111323_10">DESCRIPTION OF WARRANTS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">15</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#tx111323_11">CERTAIN PROVISIONS OF MARYLAND LAW AND CURBLINE PROPERTIES CORP.&#8217;S CHARTER
 AND BYLAWS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">17</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#tx111323_12">CERTAIN MATERIAL U.S. FEDERAL INCOME TAX CONSIDERATIONS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">23</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#tx111323_13">PLAN OF DISTRIBUTION</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">46</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#tx111323_14">LEGAL MATTERS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">48</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#tx111323_15">EXPERTS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">49</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
</TABLE>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="supptx111323_1"></A>ABOUT THIS PROSPECTUS SUPPLEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This document is in two parts. The first part is this prospectus supplement, which describes the specific terms of this offering and also adds to and updates
information contained in the accompanying prospectus and the documents incorporated by reference. The second part is the accompanying prospectus, which gives more general information, some of which does not apply to this offering. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">To the extent the information contained in this prospectus supplement differs or varies from the information contained in the accompanying prospectus or
documents incorporated by reference, the information in this prospectus supplement will supersede such information. In addition, any statement in a filing we make with the SEC that is incorporated by reference herein and adds to, updates or changes
information contained in an earlier filing we made with the SEC shall be deemed to modify and supersede such information in the earlier filing. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This
prospectus supplement does not contain all of the information that is important to you. You should read this prospectus supplement together with the accompanying prospectus, as well as the documents or information incorporated by reference in this
prospectus supplement or the accompanying prospectus. See &#8220;Where You Can Find More Information&#8221; and &#8220;Incorporation of Certain Information by Reference&#8221; in this prospectus supplement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>You should rely only on the information contained in or incorporated by reference into this prospectus supplement, the accompanying prospectus or any
applicable free writing prospectus in making a decision about whether to invest in our common stock. We have not, and the Agents, the Forward Sellers and the Forward Purchasers have not, authorized any other person to provide you with different or
additional information. If anyone provides you with different or additional information, you should not rely on it. This prospectus supplement and the accompanying prospectus do not constitute an offer to sell, or a solicitation of an offer to
purchase, any securities in any jurisdiction where it is unlawful to make such offer or solicitation. You should assume that the information appearing in this prospectus supplement, the accompanying prospectus, any applicable free writing prospectus
and the documents incorporated by reference herein or therein is accurate only as of their respective dates or on the date or dates which are specified in these documents. Our business, financial condition, liquidity, results of operations and
prospects may have changed since those dates. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Unless otherwise stated or the context otherwise requires, references in this prospectus supplement to
&#8220;Curbline,&#8221; &#8220;we,&#8221; &#8220;us&#8221; and &#8220;our&#8221; refer, collectively, to Curbline Properties Corp. and its consolidated subsidiaries, including Curbline Properties LP and its subsidiaries; and references to &#8220;the
Company&#8221; refer only to Curbline Properties Corp. and not to any of its subsidiaries or affiliates. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-1 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="supptx111323_2"></A>CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Certain statements contained in this prospectus supplement and the accompanying prospectus, including the information incorporated by reference into this
prospectus supplement and the accompanying prospectus contain &#8220;forward-looking&#8221; statements within the meaning of Section&nbsp;27A of the Securities Act and Section&nbsp;21E of the Securities Exchange Act of 1934, as amended (the
&#8220;Exchange Act&#8221;), with respect to our expectation for future periods. Although we believe that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our
expectations will be achieved. For this purpose, any statements contained herein that are not historical fact, including statements regarding the Company&#8217;s projected operational and financial performance, strategy, prospects and plans, may be
deemed to be forward-looking statements. There are a number of important factors that could cause our results to differ materially from those indicated by such forward-looking statements, including, among other factors: (1)&nbsp;changes in the
economic performance and value of our properties as a result of broad economic and local conditions, such as inflation, interest rate volatility and market reaction to tariffs and other trade policies; (2)&nbsp;changes in local conditions such as an
increase or decrease in the supply of, or demand for, retail real estate space in our geographic markets; (3)&nbsp;the impact of changes in consumer trends, distribution channels, suburban population, retailing practices and the space needs of
tenants; (4)&nbsp;our dependence on rental income which depends on the successful operations and financial condition of tenants, the loss of which, including as a result of store closures or bankruptcy, could result in significant occupancy loss and
negatively impact rental income from our properties; (5)&nbsp;our ability to enter into new leases and renew existing leases, in each case, on favorable terms; (6)&nbsp;our ability to identify, acquire, construct or develop additional properties
that produce the cash flows that we expect and may be limited by competitive pressures, and our ability to manage our growth effectively and capture the efficiencies of scale that we expect from expansion; (7)&nbsp;potential environmental
liabilities; (8)&nbsp;our ability to secure debt and equity financing on commercially acceptable terms or at all; (9)&nbsp;the illiquidity of real estate investments which could limit our ability to make changes to our portfolio to respond to
economic or other conditions; (10)&nbsp;property damage, expenses related thereto and other business and economic consequences (including the potential loss of rental revenues) resulting from natural disasters, public health crises and
weather-related factors in locations where we own properties, the ability to estimate accurately the amounts thereof and the sufficiency and timing of any insurance recovery payments related to such damages; (11)&nbsp;any change in strategy;
(12)&nbsp;the effect of future offerings of debt and equity securities on the value of our common stock; (13)&nbsp;any disruption, failure or breach of the networks or systems on which we rely, including as a result of cyber-attacks;
(14)&nbsp;impairment in the value of real estate property that we own; (15)&nbsp;changes in tax laws impacting REITs and real estate in general, as well as our ability to maintain our REIT status and (16)&nbsp;our ability to retain and attract key
management personnel. For additional factors that could cause our results to differ materially from those indicated in the forward-looking statements, please refer to our Annual Report on Form <FONT STYLE="white-space:nowrap">10-K</FONT> under
&#8220;Item 1A. Risk Factors&#8221; and our subsequent reports filed with the SEC. We undertake no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-2 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">

<div style ="BORDER-BOTTOM:1.00pt solid #000000;BORDER-LEFT:1.00pt solid #000000;BORDER-RIGHT:1.00pt solid #000000;BORDER-TOP:1.00pt solid #000000;MARGIN-LEFT:0px; MARGIN-RIGHT:0px;max-width:100%"><div style="width:97%; margin-top:1.5%; margin-bottom:1.5%; margin-left:1.5%; margin-right:-1.25%">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="supptx111323_3"></A>PROSPECTUS SUPPLEMENT SUMMARY </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I>This summary highlights some of the information in this prospectus supplement, the accompanying prospectus and the documents incorporated
by reference. It does not contain all of the information that you should consider before making a decision to invest in our common stock. You should read carefully the more detailed information in this prospectus supplement and the accompanying
prospectus, and the information incorporated by reference into this prospectus supplement and the accompanying prospectus. </I></P> <P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B>The
Company </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Curbline Properties Corp. is a Maryland corporation that operates as a REIT for federal income tax purposes and primarily
engages in the business of owning, leasing, acquiring, and managing convenience shopping centers positioned on the curbline of well-trafficked intersections and major vehicular corridors in suburban, high household income communities. The Company
was incorporated in 2023. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Curbline Properties LP (the &#8220;Operating Partnership&#8221;) is a Delaware limited partnership formed to
serve as the Company&#8217;s majority-owned partnership subsidiary and to own, through affiliates, all of our real estate properties and assets. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On October&nbsp;1, 2024, the Company, the Operating Partnership and SITE Centers Corp. (&#8220;SITE Centers&#8221;) entered into a Separation
and Distribution Agreement, pursuant to which, among other things, SITE Centers transferred its portfolio of convenience shopping centers, $800.0&nbsp;million of unrestricted cash and certain other assets, liabilities and obligations to Curbline and
effected a pro rata special distribution of all of the outstanding shares of Curbline common stock to common shareholders of SITE Centers as of September&nbsp;23, 2024. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B>Recent Developments </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">During the period from January&nbsp;1, 2026 through June&nbsp;1, 2026, the Company acquired 31 convenience shopping centers for an aggregate
gross purchase price of $386.3&nbsp;million. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B>Corporate Information </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our executive offices are located at 320 Park Ave, New York, New York 10022, and our telephone number is (216)
<FONT STYLE="white-space:nowrap">755-5500.</FONT> Our website is www.curbline.com. The information on, or that may be accessed through, our website is not a part of this prospectus supplement or the accompanying prospectus. </P>
</div></div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-3 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">

<div style ="BORDER-BOTTOM:1.00pt solid #000000;BORDER-LEFT:1.00pt solid #000000;BORDER-RIGHT:1.00pt solid #000000;BORDER-TOP:1.00pt solid #000000;MARGIN-LEFT:0px; MARGIN-RIGHT:0px;max-width:100%"><div style="width:97%; margin-top:1.5%; margin-bottom:1.5%; margin-left:1.5%; margin-right:-1.25%">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="supptx111323_4"></A>THE OFFERING </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE=" margin-top:0pt; margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman"><B>Issuer</B> </P></TD>
<TD>Curbline Properties Corp. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE=" margin-top:0pt; margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman"><B>Shares Offered</B> </P></TD>
<TD>Shares of common stock, $0.01 par value per share, having aggregate gross sales price of up to $400&nbsp;million. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE=" margin-top:0pt; margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman"><B>Use of Proceeds</B> </P></TD>
<TD>We intend to use the net proceeds from any sales of shares of our common stock pursuant to this prospectus supplement or upon physical settlement of any forward sale agreement we may enter into with any of the Forward Purchasers for general
corporate purposes, which may include, among other things, funding the acquisition of properties, working capital and capital expenditures, repaying outstanding indebtedness, or a combination of the foregoing. See &#8220;Use of Proceeds&#8221; in
this prospectus supplement. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE=" margin-top:0pt; margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman"><B>NYSE Symbol</B> </P></TD>
<TD>&#8220;CURB&#8221; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE=" margin-top:0pt; margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman"><B>Restrictions on Ownership of Our Capital Stock</B> </P></TD>
<TD>Our charter generally prohibits, with certain exceptions, any stockholder from beneficially or constructively owning more than 8% of our outstanding common stock. See &#8220;Description of Capital Stock &#8212; Restrictions on Ownership and
Transfer&#8221; in the accompanying prospectus. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE=" margin-top:0pt; margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman"><B>Accounting Treatment of any Forward Sales</B> </P></TD>
<TD>For information concerning the expected accounting treatment of shares issuable upon settlement of any forward sale agreement, see &#8220;Plan of Distribution &#8212; Sales Through Forward Sellers&#8221; in this prospectus supplement.
</TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE=" margin-top:0pt; margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman"><B>Material U.S. Federal Income Tax Considerations</B> </P></TD>
<TD>For a description of material U.S. federal income tax considerations of an investment in our common stock, please review the disclosure in the accompanying prospectus under &#8220;Certain Material U.S. Federal Income Tax Considerations.&#8221;
</TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE=" margin-top:0pt; margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman"><B>Risk Factors</B> </P></TD>
<TD>Investing in our common stock involves risks. You should carefully read and consider the information set forth under the heading &#8220;Risk Factors&#8221; beginning on page <FONT STYLE="white-space:nowrap">S-5</FONT> of this prospectus
supplement and the risk factors incorporated by reference to the Company&#8217;s most recent Annual Report on Form <FONT STYLE="white-space:nowrap">10-K</FONT> and subsequent reports filed with the SEC, incorporated by reference in this prospectus
supplement and the accompanying prospectus, as updated in our subsequent filings under the Exchange Act<I> </I>before making a decision to invest in our common stock. </TD></TR></TABLE>
</div></div>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-4 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="supptx111323_5"></A>RISK FACTORS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I>Investment in our common stock involves risks. Before acquiring our common stock offered pursuant to this prospectus supplement and the
accompanying prospectus, you should carefully consider the information contained or incorporated by reference in this prospectus supplement and the accompanying prospectus or in any free writing prospectus that we may prepare in connection with this
offering, including, without limitation, the risk factors incorporated by reference to our most recent Annual Report on Form <FONT STYLE="white-space:nowrap">10-K,</FONT> and subsequent reports filed with the SEC, incorporated by reference in this
prospectus supplement and the accompanying prospectus, as updated in our subsequent filings under the Exchange Act. The occurrence of any of these risks might cause you to lose all or a part of your investment in our common stock. Please also refer
to the section entitled &#8220;Cautionary Note Regarding Forward-Looking Statements&#8221; included elsewhere in this prospectus suppleme</I>nt. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>This offering and future sales or issuances of our common stock could be dilutive to our earnings per share, which may negatively affect
the market price of our common stock. </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The issuance and sale by us of any shares of our common stock in this offering or pursuant
to any forward sale agreement we may enter into with any of the Forward Purchasers, the receipt of the net proceeds therefrom and the use of those net proceeds could have a dilutive effect on our earnings per share. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">A large volume of sales of shares of our common stock, including the sale by us of shares in this offering or pursuant to any forward sale
agreement, could decrease the market price of our common stock and could impair our ability to raise additional capital through the sale of equity securities in the future. Even if a substantial number of sales of shares of our common stock are not
affected, the mere perception of the possibility of these sales could depress the market price of our common stock and have a negative effect on our ability to raise capital in the future. In addition, anticipated downward pressure on our common
stock price due to actual or anticipated sales of common stock could cause some institutions or individuals to engage in short sales of our common stock, which may itself cause the price of our common stock to decline. In addition, future issuances
of shares of our common stock may be dilutive to existing stockholders. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In addition, if we are unable to apply any net proceeds we may
receive from this offering or from settlement under any forward sale agreement to make investments that generate sufficient revenues and earnings to offset the dilutive impact of the issuance by us of shares of our common stock in this offering or
pursuant to such forward sale agreement, if any, there will be further dilution of our earnings per share. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The actual amount of dilution
from this offering or any forward sale agreement, or from any future offering of our common stock, will be based on numerous factors, particularly the number of shares of our common stock issued, the use of proceeds and the return generated by such
investment, and cannot be determined at this time. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>Future issuances of debt securities, which would rank senior to our common stock
upon our liquidation, and future issuances of equity securities (including preferred equity securities), which would dilute the holdings of our existing common stockholders and may be senior to our common stock for the purposes of making
distributions, periodically or upon liquidation, may negatively affect the market price of our common stock. </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In the future, we may
issue debt or equity securities or incur other borrowings. Upon our liquidation, holders of our debt securities, other loans and preferred stock will receive a distribution of our available assets before common stockholders. If we incur additional
debt in the future, our future interest costs could increase and adversely affect our liquidity and results of operations. We are not required to offer any additional equity securities to existing common stockholders on a preemptive basis.
Therefore, additional common stock issuances, directly or through convertible or exchangeable securities, warrants or options, will dilute the holdings of our existing common stockholders and such issuances or the perception of such issuances may
reduce the </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-5 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
market price of our common stock. Our preferred stock, if issued, could have a preference on liquidating distributions or a preference on distribution payments that could limit our ability to
make distributions to our common stockholders. Because our decision to issue debt or equity securities or incur other borrowings in the future will depend on market conditions and other factors beyond our control, we cannot predict or estimate the
amount, timing, nature, impact or success of our future capital raising efforts. Thus, common stockholders bear the risk that our future issuances of debt or equity securities or our incurrence of other borrowings will negatively affect the market
price of our common stock. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><I>Settlement provisions contained in any forward sale agreement subject us to certain risks. </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We expect that any forward sale agreement will settle by the maturity date to be agreed upon with the Forward Purchaser in respect of a forward
sale agreement. Such forward sale agreement may be settled earlier, however, in whole or in part, subject to the satisfaction of certain conditions. We currently expect that each forward sale agreement will be physically settled by delivery of
shares of our common stock, unless we elect to cash settle or net share settle such forward sale agreement, on one or more dates specified by us on or prior to the maturity date of such forward sale agreement, subject to the satisfaction of certain
conditions. Upon physical settlement or, if we so elect, net share settlement of such forward sale agreement, delivery of shares of our common stock in connection with such physical settlement or, to the extent we are obligated to deliver shares of
our common stock, net share settlement will result in dilution to our earnings per share. If we elect cash settlement or net share settlement with respect to all or a portion of the shares of our common stock underlying a particular forward sale
agreement, we expect that the relevant Forward Purchaser (or an affiliate thereof) will purchase a number of shares of our common stock necessary to satisfy its (or its affiliate&#8217;s) obligation to return the shares of our common stock borrowed
from third parties in connection with the related hedging sales of shares of our common stock, adjusted, in the case of net share settlement, by any shares deliverable by or to us under that forward sale agreement. In addition, the purchase of
shares of our common stock in connection with the relevant Forward Purchaser or its affiliate unwinding its hedge positions could result in an increase (or a reduction in the amount of any decrease) in the price of shares of our common stock over
such time, thereby increasing the amount of cash we would owe to such Forward Purchaser (or decreasing the amount of cash such Forward Purchaser would owe us) upon a cash settlement of such forward sale agreement or possibly increasing the number of
shares of our common stock we would deliver to such Forward Purchaser (or possibly decreasing the number of shares of our common stock such Forward Purchaser would deliver to us) upon net share settlement of such forward sale agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Each Forward Purchaser will have the right to accelerate any forward sale agreement it may enter into with us with respect to all or any
portion of the transaction underlying any forward sale agreement (except with respect to events specified in (1)&nbsp;and (3) below, where accelerated settlement is limited to the portion of shares whose settlement would address the relevant event
or that is affected by the relevant event) and require us to physically settle such shares on a date specified by such Forward Purchaser if: (1)&nbsp;in such Forward Purchaser&#8217;s commercially reasonable judgment, it or its affiliate is unable
to hedge (or maintain a hedge of) its exposure in a commercially reasonable manner under such forward sale agreement because insufficient shares of our common stock have been made available for borrowing by securities lenders or such Forward
Purchaser or any of its affiliates would incur a stock borrow cost in excess of a specified threshold; (2)&nbsp;we declare any distribution, issue or dividend on shares of our common stock that constitutes an extraordinary dividend or is payable in
(a)&nbsp;cash in excess of specified amounts (other than an extraordinary dividend), (b) securities of another company as a result of a <FONT STYLE="white-space:nowrap">spin-off</FONT> or similar transaction or (c)&nbsp;any other type of securities
(other than our common stock), rights, warrants or other assets for payment at less than the prevailing market price; (3)&nbsp;certain ownership thresholds applicable to such Forward Purchaser and its affiliates are or would be exceeded; (4)&nbsp;an
event (a)&nbsp;is announced that if consummated would result in a specified extraordinary event (including certain mergers or tender offers, as well as certain events involving our nationalization, our insolvency or a delisting of our common stock)
or (b)&nbsp;occurs that would constitute a hedging disruption or a change in law; or (5)&nbsp;certain other events of default or termination events occur, including, among others, any material misrepresentation made by us in connection with such
forward sale agreement or our insolvency (each as more fully described in the relevant forward sale agreement). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-6 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">A Forward Purchaser&#8217;s decision to exercise its right to accelerate a settlement of a
particular forward sale agreement upon the occurrence of the events described above will be made irrespective of our interests, including our need for capital. In such cases, we could be required to issue and deliver shares of common stock under the
settlement provisions of that particular forward sale agreement, irrespective of our capital needs, which would result in dilution to our earnings per share. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The forward sale price we expect to receive upon physical settlement of any forward sale agreement will be subject to adjustment on a daily
basis based on a floating interest rate factor equal to a specified daily rate less a spread, to be agreed upon by us and the Forward Purchaser under the applicable forward sale agreement, and will be decreased on certain dates by amounts related to
expected dividends on shares of our common stock during the term of such forward sale agreement. If the specified daily rate is less than the applicable spread on any day, the interest rate factor will result in a daily reduction of the forward sale
price. If the market value of shares of our common stock during the relevant unwind period under a particular forward sale agreement is above the forward sale price, in the case of cash settlement, we would pay the applicable Forward Purchaser under
the relevant forward sale agreement an amount in cash equal to the difference or, in the case of net share settlement, we would deliver to such Forward Purchaser a number of shares of our common stock having a value equal to the difference. Thus, we
could be responsible for a potentially substantial cash or net share settlement payment. See &#8220;Plan of Distribution&#8212;Sales Through Forward Sellers&#8221; for more information on the forward sale agreements. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>In certain bankruptcy or insolvency events, any forward sale agreement will automatically terminate, and we would not receive the
expected proceeds from any forward sales of shares of our common stock. </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If we file for or consent to a proceeding seeking a
judgment in bankruptcy or insolvency or any other relief under any bankruptcy or insolvency law or other similar law affecting creditors&#8217; rights or if an appropriate regulatory or other authority takes similar action, any forward sale
agreement that is then in effect will automatically terminate. If any such forward sale agreement so terminates, we would not be obligated to deliver to the relevant Forward Purchaser any shares of our common stock not previously delivered, and the
relevant Forward Purchaser would be discharged from its obligation to pay the applicable forward sale price per share in respect of any shares of our common stock not previously settled under the applicable forward sale agreement. Therefore, to the
extent that there are any shares of our common stock with respect to which any forward sale agreement has not been settled at the time of the commencement of any such bankruptcy or insolvency proceedings, we would not receive the relevant forward
sale price per share in respect of those shares of our common stock. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>Additional issuances of equity securities by us would dilute
the ownership of our existing stockholders. </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We may issue equity in the future in connection with acquisitions or strategic
transactions, to adjust our ratio of debt to equity, including through repayment of outstanding debt, to fund expansion of our operations or for other purposes. We may issue shares of our common stock at prices or for consideration that is greater
than or less than the price at which our common stock is offered and sold by the Agents. To the extent we issue additional equity securities, your percentage ownership of our common stock would be reduced. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>The U.S. federal income tax treatment regarding cash settlement of a forward sale agreement is unclear and could jeopardize our ability
to meet the REIT qualification requirements. </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In the event that we elect to settle any forward sale agreement for cash and the
settlement price is different than the applicable forward sale price, we will either receive a cash payment from or make a cash payment to the relevant Forward Purchaser. Under Section&nbsp;1032 of the Internal Revenue Code of 1986, as amended (the
&#8220;Code&#8221;), generally, no gain or loss is recognized by a corporation in dealing in its own stock, including pursuant to a &#8220;securities futures contract.&#8221; Although we believe that any amount received by us in exchange for our
common stock would qualify for the exemption under Section&nbsp;1032 of the Code, because it is unclear whether a forward sale agreement qualifies as a &#8220;securities futures contract,&#8221; the U.S. federal income tax treatment of any cash
settlement payment we receive is uncertain. In the event that we recognize a significant gain from the cash </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-7 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
settlement of a forward sale agreement, we might not be able to satisfy the gross income requirements applicable to REITs under the Code. In that case, if we are not able to rely upon the relief
provisions under the Code, it could lead to the loss of our REIT status. Even if the relief provisions apply, we will be subject to a 100% tax on gross income attributable to the greater of the amount by which we fail the (1) 75% gross income test
or (2)&nbsp;the 95% gross income test, multiplied in either case by a fraction intended to reflect our profitability, as discussed in the accompanying prospectus under &#8220;Certain Material U.S. Federal Income Tax Considerations.&#8221; In the
event that these relief provisions are not available, we could lose our REIT status under the Code. In the event that we are required to make a significant payment in cash to settle a forward agreement, we might not be able to satisfy the
distribution requirements applicable to REITs under the Code, absent additional debt or equity financing. In the event that we are unable to obtain additional debt or equity financing or rely on certain relief provisions, we could lose our REIT
status under the Code. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>The common stock offered hereby will be sold in &#8220;at-the-market offerings,&#8221; and investors who buy
shares at different times will likely pay different prices. </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Investors who purchase shares in this offering at different times will
likely pay different prices, and so may experience different outcomes in their investment results. We will have discretion, subject to market demand, to vary the timing, prices, and numbers of shares sold, and there is no minimum or maximum sales
price. Investors may experience a decline in the value of their shares as a result of share sales made at prices lower than the prices they paid. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><I>Affiliates of certain of the Agents may receive benefits in connection with this offering. </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As of the date of this prospectus supplement, affiliates of certain of the Agents in this offering are lenders under our debt instruments
disclosed under &#8220;Use of Proceeds&#8221; and &#8220;Plan of Distribution&#8221;. To the extent that we use a portion of the net proceeds from this offering or from any forward sale agreement to repay the outstanding balance under our existing
debt instruments, if any, such affiliates of the applicable Agents will receive their proportionate share of any amount that is repaid with the net proceeds from this offering or from any forward sale agreement. This transaction creates a potential
conflict of interest because the Agents have an interest in the successful completion of this offering beyond the sales commissions they will receive. These interests may influence the decision regarding the terms and circumstances under which the
offering is completed. For additional information, see &#8220;Plan of Distribution&#8221; in this prospectus supplement. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>We have in
the past entered and may in the future enter into forward sale agreements that subject us to risks similar to those described above. </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We have in the past entered into forward sale agreements under our prior
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">&#8220;at-the-market&#8221;</FONT></FONT> equity offering program and pursuant to a public equity offering completed in February 2026 and may in the future enter into forward sale
agreements that are not part of this offering. At June&nbsp;1, 2026, we remained obligated to issue (subject to our right to elect cash settlement or net share settlement and the terms of such forward sale agreements) a total of approximately
17.0&nbsp;million shares of our common stock pursuant to forward sale agreements. These forward sale agreements subject us to risks that are substantially similar to the risks described above in this section. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-8 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="supptx111323_6"></A>USE OF PROCEEDS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our common stock having aggregate gross sales price of up to $400&nbsp;million may be offered and sold from time to time pursuant to this
prospectus supplement and the accompanying prospectus. Because there is no minimum offering amount required as a condition to close this offering, the actual total public offering amount, commissions, and proceeds, if any, are not determinable at
this time. There can be no assurance that any of our common stock will be offered and sold or that we will fully utilize the Equity Sales Agreement as a source of financing. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We intend to use the net proceeds from any sales of shares of our common stock pursuant to this prospectus supplement or upon physical
settlement of any forward sale agreement we may enter into with any of the Forward Purchasers for general corporate purposes, which may include, among other things, funding the acquisition of properties, working capital and capital expenditures,
repaying outstanding indebtedness, or a combination of the foregoing. We will not receive any proceeds from any sale of borrowed shares of our common stock through an Agent, as Forward Seller, and all of such proceeds will be paid to the relevant
Forward Purchaser (or an affiliate thereof). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We currently expect to fully physically settle each forward sale agreement, if any, with the
relevant Forward Purchaser on one or more dates specified by us on or prior to the maturity date of such forward sale agreement, in which case we expect to receive aggregate net cash proceeds on each settlement date equal to the number of shares
underlying such forward sale agreement that are being settled multiplied by the relevant forward sale price per share. However, subject to certain exceptions, we may also elect, in our sole discretion, to cash settle or net share settle all or any
portion of our obligations under any forward sale agreement, in which case we may not receive any proceeds (in the case of cash settlement) or will not receive any proceeds (in the case of net share settlement), and we may owe cash (in the case of
cash settlement) or shares of our common stock (in the case of net share settlement) to the relevant Forward Purchaser. For additional information, see &#8220;Plan of Distribution&#8221; in this prospectus supplement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pending application of the net proceeds, we may invest the net proceeds in short-term income producing investments. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The amount and timing of our actual expenditures may vary significantly depending on numerous factors. As a result, our management will retain
broad discretion over the allocation of the net proceeds we receive from this offering. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As of the date of this prospectus supplement,
affiliates of certain of the Agents in this offering are lenders under our revolving credit facility (&#8220;revolving credit facility&#8221;) and our delayed draw term loan facility (&#8220;term loan facility&#8221; and together with our revolving
credit facility, &#8220;2024 credit facilities&#8221;) and our unsecured term loan (&#8220;2025 term loan&#8221;). To the extent that we use a portion of the net proceeds from this offering or from any forward sale agreement to repay the outstanding
balance under our 2024 credit facilities and 2025 term loan, if any, such affiliates of the applicable Agents will receive their proportionate share of any amount that is repaid with the net proceeds from this offering or from any forward sale
agreement. Likewise, to the extent that net proceeds from this offering or upon physical settlement of any forward sale agreement are applied to pay any other indebtedness of ours that may be held by any of the Agents or any of their respective
affiliates, such Agents or affiliates, as the case may be, will receive proceeds of such offering or settlement through the repayment of that indebtedness. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If we enter into a forward sale agreement with any Forward Purchaser, we expect that such Forward Purchaser (or its affiliate) will attempt to
borrow from third parties and sell, through the relevant Agent, acting as Forward Seller, shares of our common stock to hedge such Forward Purchaser&#8217;s exposure under such forward sale agreement. All of the net proceeds from the sale of any
such borrowed shares will be paid to the applicable Forward Purchaser (or one or more of its affiliates). Each Forward Purchaser will be either an Agent or an affiliate of an Agent. As a result, an Agent or its affiliate will receive the net
proceeds from any sale of borrowed shares of our common stock made in connection with any forward sale agreement. For additional information, see &#8220;Plan of Distribution&#8212;Other Relationships.&#8221; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-9 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="supptx111323_7"></A>PLAN OF DISTRIBUTION </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We have entered into the Equity Sales Agreement with the Agents and the Forward Purchasers relating to shares of our common stock offered by
this prospectus supplement and the accompanying prospectus pursuant to a continuous offering program. In accordance with the terms of the Equity Sales Agreement, an aggregate gross sales price of up to $400&nbsp;million of shares of our common stock
may be offered and sold from time to time through the Agents, as our sales agents or, as Forward Sellers, or directly to the Agents, as principals. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Sales of shares of our common stock, if any, under this prospectus supplement and the accompanying prospectus may be made in
(1)&nbsp;negotiated transactions, which may include block trades, as the Company and such Agent may agree or <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">(2)&nbsp;&#8220;at-the-market&#8221;</FONT></FONT> offerings (as defined
in Rule 415 under the Securities Act) by means of ordinary brokers&#8217; transactions on the NYSE or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices, by privately
negotiated transactions (including block sales) or by any other methods permitted by applicable law. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Agents will offer our common
stock subject to the terms and conditions of the Equity Sales Agreement on any trading day or as otherwise agreed to. We will designate the maximum number of shares of our common stock to be sold through or to an Agent on any trading day, or
otherwise as we and the applicable Agent and the applicable Forward Purchaser agree, and the minimum price per share at which such shares of our common stock may be sold. Subject to the terms and conditions of the Equity Sales Agreement, the Agents
will use their commercially reasonable efforts to sell all of our common stock so designated. We may instruct the Agents not to sell shares of our common stock if the sales cannot be effected at or above the price designated by us in any such
instruction. We, an Agent or a Forward Purchaser may suspend the offering of our common stock being made through the applicable Agent under the Equity Sales Agreement upon proper notice. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In connection with the sale of shares of our common stock, each Agent may be deemed to be an &#8220;underwriter&#8221; within the meaning of
the Securities Act, and the compensation paid to each Agent (including, in the case of Agent, as Forward Seller, in the form of a reduction to the initial forward sale price under the related forward sale agreement) may be deemed to be underwriting
commissions or discounts. We have agreed in the Equity Sales Agreement to provide indemnification and contribution to the Agents and the Forward Purchasers against certain civil liabilities, including liabilities under the Securities Act. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our common stock is an &#8220;actively-traded security&#8221; excepted from the requirements of Rule 101 of Regulation M under the Exchange
Act by Rule 101(c)(1) of Regulation M under the Exchange Act. If we have reason to believe that our common stock is no longer an &#8220;actively-traded security&#8221; as defined under Rule 101(c)(1) of Regulation M under the Exchange Act, we will
promptly so notify the Agents, and sales of shares of our common stock under the Equity Sales Agreement will be suspended until that or other exemptive provisions have been satisfied in the judgment of us and the Agent. If an Agent, that is subject
to a sale instruction, has reason to believe that the exemptive provisions set forth in Rule 101(c)(1) of Regulation M under the Exchange Act are not satisfied with respect to Curbline or the shares subject to such sale instruction, it shall
promptly notify&nbsp;us. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The offering of shares of our common stock pursuant to the Equity Sales Agreement will terminate upon the
earlier of (1)&nbsp;the sale of shares of our common stock subject to the Equity Sales Agreement (including shares sold by us to or through the Agents and borrowed shares sold through the Agents, as Forward Sellers) having an aggregate gross sales
price of $400&nbsp;million and (2)&nbsp;the termination of the Equity Sales Agreement by us, the Agents or the Forward Purchasers. An Agent or Forward Purchaser may terminate the Equity Sales Agreement at any time but only with respect to itself.
</P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Commissions and Discounts </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Each
Agent will receive from us a commission that will not exceed, but may be lower than, 2.0% of the gross sales price of shares of our common stock sold through it as our sales agent under the Equity Sales
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-10 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Agreement. We may also agree with the applicable Agent to sell shares of our common stock using sales efforts and methods that may constitute &#8220;distributions&#8221; within the meaning of
Rule 100 of Regulation M under the Exchange Act and for which we may agree to pay the applicable Agent a commission that may exceed 2.0% of the gross sales price. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In connection with each forward sale agreement, we will pay the applicable Agent, as Forward Seller, a commission (the &#8220;forward selling
commission&#8221;), in the form of a reduction to the initial forward sale price under the related forward sale agreement, at a mutually agreed rate that will not exceed, but may be lower than, 2.0% of the gross sales price per share of our common
stock sold through such Agent, as Forward Seller, during the applicable forward selling period for such shares. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Under the terms of the
Equity Sales Agreement, we may also sell shares of our common stock to each of the Agents, as principal, at a price agreed upon at the time of sale. If we sell shares of our common stock to any Agent as principal, we will enter into a separate terms
agreement with the Agent, setting forth the terms of such transaction, and we will describe the agreement in a separate prospectus supplement or pricing supplement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We estimate that the total expenses payable by us in connection with the offering and sale of shares of our common stock pursuant to the
Equity Sales Agreement, excluding commissions and discounts payable to the Agents but including expenses paid prior to the date of this prospectus supplement and any transaction fees, transfer taxes or similar charges imposed by any governmental or
self-regulatory organization in connection with the sales, will not exceed $1&nbsp;million. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Sales Through Forward Sellers </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If we enter into a forward sale agreement with any Forward Purchaser, we expect that such Forward Purchaser or one of its affiliates will
attempt to borrow from third parties and sell, through the relevant Agent, as Forward Seller, shares of our common stock to hedge such Forward Purchaser&#8217;s exposure under such forward sale agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In connection with any forward sale agreement and our instructions accepted by the relevant Forward Purchaser and Agent, as Forward Seller,
the relevant Agent, as Forward Seller, will use its commercially reasonable efforts to sell such shares of common stock, on the terms and subject to the conditions set forth in the Equity Sales Agreement and the relevant forward sale agreement. We
will instruct such Agent as to the target amount of common stock to be sold by it as Forward Seller and may also instruct such Agent not to sell such common stock if the sales cannot be effected at or above a price designated by us. We or the
applicable Agent, as Forward Seller, may at any time immediately suspend the offering of shares of our common stock through such Agent, as Forward Seller, upon notice to the other party. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to each forward sale agreement, if any, we will have the right to issue and sell to the Forward Purchaser party thereto a specified
number of shares of our common stock on the terms and subject to the conditions set forth therein, or, alternatively, to elect cash settlement or net share settlement, as described below, for all or any portion of such shares. We currently expect to
fully physically settle each forward sale agreement, if any, with the relevant Forward Purchaser on one or more dates specified by us on or prior to the maturity date of such forward sale agreement. Upon physical settlement under a forward sale
agreement, we will have the right to receive an amount of cash from the relevant Forward Purchaser equal to the product of (1)&nbsp;the relevant forward price per share under such forward sale agreement and (2)&nbsp;the number of shares of our
common stock that are being physically settled. The initial forward price per share under each forward sale agreement will equal the product of (1)&nbsp;an amount equal to one minus the applicable forward selling commission and (2)&nbsp;the
volume-weighted average of the sales prices per share at which the borrowed shares of our common stock were sold by the relevant Agent, as Forward Seller, during the applicable forward hedge selling period in accordance with the Equity Sales
Agreement to hedge the relevant Forward Purchaser&#8217;s exposure under such forward sale agreement (subject to adjustments to such volume-weighted average of the sales prices during the forward hedge selling period based on the same factors
described in the next two sentences). Thereafter, the forward price will be </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-11 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
subject to adjustment on a daily basis based on a floating interest rate factor equal to a specified daily rate less a spread. In addition, the forward price will be subject to decrease on
certain dates specified in the relevant forward sale agreement by the amount per share of quarterly dividends we expect to declare on our common stock during the term of such forward sale agreement. If the specified daily rate is less than the
applicable spread on any day, the interest rate factor will result in a daily reduction of the forward price. We will not receive any proceeds from any sale of borrowed shares of our common stock through an Agent, as Forward Seller, and all of such
proceeds will be paid to the relevant Forward Purchaser (or an affiliate thereof). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We expect that, before any issuance of shares of our
common stock upon physical settlement or net share settlement of any forward sale agreement, the shares issuable upon settlement of such forward sale agreement will be reflected in our diluted earnings per share calculations using the treasury stock
method. Under this method, the number of shares of our common stock used in calculating diluted earnings per share will be deemed to be increased by the excess, if any, of the number of shares that would be issued upon physical settlement of such
forward sale agreement over the number of shares that could be purchased by us in the market (based on the average market price during the relevant forward hedge selling period) using the proceeds receivable upon settlement (based on the adjusted
forward price at the end of the relevant reporting period). Consequently, prior to physical or net share settlement of the forward sale agreement and subject to the occurrence of certain events, we anticipate there will be no dilutive effect on our
earnings per share as a result of such forward sale agreement except during periods when the average market price of our common stock is above the per share adjusted forward price of such forward sale agreement, subject to increase or decrease based
on the specified daily rate less a spread, to be agreed upon by us and the Forward Purchaser under the applicable forward sale agreement, and subject to decrease by amounts related to expected dividends on our common stock during the term of that
particular forward sale agreement. However, if we decide to physically or net share settle any forward sale agreement, delivery of shares of our common stock by us could result in dilution to our earnings per share. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We will generally have the right, in lieu of physical settlement of any forward sale agreement, to elect cash or net share settlement in
respect of any or all of the shares of common stock subject to such forward sale agreement, subject to certain exceptions pursuant to such forward sale agreement. If we elect to cash or net share settle all or any part of any forward sale agreement,
we would expect the relevant Forward Purchaser or one of its affiliates to purchase shares of our common stock in secondary market transactions over an unwind period so as to: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">return shares of our common stock to securities lenders to unwind such Forward Purchaser&#8217;s hedge (after
taking into consideration any shares of our common stock to be delivered by us to such Forward Purchaser, in the case of net share settlement); and </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">if applicable, in the case of net share settlement, deliver shares of our common stock to us to the extent
required upon settlement of such forward sale agreement. </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In general terms and subject to a particular forward sale
agreement: if the market value of shares of our common stock during the relevant unwind period under a particular forward sale agreement is above the forward sale price, in the case of cash settlement, we would pay the applicable Forward Purchaser
under the relevant forward sale agreement an amount in cash equal to the difference or, in the case of net share settlement, we would deliver to such Forward Purchaser a number of shares of our common stock having a value equal to the difference. If
the market value of shares of our common stock during the relevant unwind period under a particular forward sale agreement is below the relevant forward sale price, in the case of cash settlement, we would be paid the difference in cash by a Forward
Purchaser under the applicable forward sale agreement or, in the case of net share settlement, we would receive from such Forward Purchaser a number of shares of our common stock having a value equal to the difference. Any such difference could be
significant and could result in our receipt of a significant amount of cash or number of shares of our common stock from such Forward Purchaser or require us to pay a significant amount of cash or deliver a significant number of shares of our common
stock to such Forward Purchaser. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-12 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In addition, the purchase of our common stock by a Forward Purchaser or its affiliate to
unwind the Forward Purchaser&#8217;s hedge position and settle its obligations could cause the price of our common stock to increase above the price that would have prevailed in the absence of those purchases (or prevent a decrease in such price),
thereby increasing the amount of cash (in the case of cash settlement) or possibly the number of shares (in the case of net share settlement) that we would owe such Forward Purchaser upon settlement of the applicable forward sale agreement or
decrease the amount of cash (in the case of cash settlement) or possibly the number of shares (in the case of net share settlement) that such Forward Purchaser would owe us upon settlement of the applicable forward sale agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Each Forward Purchaser will have the right to accelerate any forward sale agreement it may enter into with us with respect to all or any
portion of the transaction underlying any forward sale agreement (except with respect to events specified in (1)&nbsp;and (3) below, where accelerated settlement is limited to the portion of shares whose settlement would address the relevant event
or that is affected by the relevant event) and require us to physically settle such shares on a date specified by such Forward Purchaser if: (1)&nbsp;in such Forward Purchaser&#8217;s commercially reasonable judgment, it or its affiliate is unable
to hedge (or maintain a hedge of) its exposure in a commercially reasonable manner under such forward sale agreement because insufficient shares of our common stock have been made available for borrowing by securities lenders or such Forward
Purchaser or any of its affiliates would incur a stock borrow cost in excess of a specified threshold; (2)&nbsp;we declare any distribution, issue or dividend on shares of our common stock that constitutes an extraordinary dividend or is payable in
(a)&nbsp;cash in excess of specified amounts (other than an extraordinary dividend), (b) securities of another company as a result of a <FONT STYLE="white-space:nowrap">spin-off</FONT> or similar transaction or (c)&nbsp;any other type of securities
(other than our common stock), rights, warrants or other assets for payment at less than the prevailing market price; (3)&nbsp;certain ownership thresholds applicable to such Forward Purchaser and its affiliates are or would be exceeded; (4)&nbsp;an
event (a)&nbsp;is announced that if consummated would result in a specified extraordinary event (including certain mergers or tender offers, as well as certain events involving our nationalization, our insolvency or a delisting of our common stock)
or (b)&nbsp;occurs that would constitute a hedging disruption or a change in law; or (5)&nbsp;certain other events of default or termination events occur, including, among others, any material misrepresentation made by us in connection with such
forward sale agreement or our insolvency (each as more fully described in the relevant forward sale agreement). A Forward Purchaser&#8217;s decision to exercise its right to accelerate the settlement of any forward sale agreement and to require us
to physically settle the relevant shares will be made irrespective of our interests, including our need for capital. In such cases, we could be required to issue and deliver shares of our common stock under the terms of the physical settlement
provisions of the applicable forward sale agreement irrespective of our capital needs, which would result in dilution to our earnings per share. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In addition, upon certain events of bankruptcy or insolvency relating to us, any forward sale agreement will terminate without further
liability of the parties thereto. Following any such termination, we would not issue any shares of our common stock or receive any proceeds pursuant to such forward sale agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The descriptions of certain provisions of the forward sale agreements appearing above and elsewhere in this prospectus supplement are not
complete and are subject to, and qualified in their entirety by reference to, the terms and provisions of such forward sale agreements. A form of the master forward sale agreement is included as an exhibit to the Equity Sales Agreement, and the
Equity Sales Agreement has been or will be filed as an exhibit to a document incorporated by reference in the accompanying prospectus and may be obtained as described under &#8220;Incorporation of Certain Information by Reference&#8221; in the
accompanying prospectus. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Settlement Procedures </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Each Agent will provide written confirmation to us following the close of trading on the NYSE on each day during which shares of our common
stock were sold by the Agent under the Equity Sales Agreement. Each confirmation will include the number of shares of our common stock sold on that day, the aggregate gross sales proceeds received from the sale of such shares of our common stock,
the aggregate net proceeds to us or the applicable Forward Purchaser and the aggregate commission payable by us to the Agent with respect to such sales. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-13 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Settlement for sales of shares of our common stock will occur, unless the parties agree
otherwise, on the first business day that is also a trading day following the trade date on which such sales were made. Settlement dates for forward sale agreements will be agreed upon with the Forward Purchaser. There are no agreements for funds to
be received in escrow, trust or similar relationship. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Reporting </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We will deliver to the NYSE copies of this prospectus supplement and the accompanying prospectus pursuant to the rules of the NYSE. Unless
otherwise required, we will report at least quarterly the number of shares of our common stock sold through the Agents under the Equity Sales Agreement and the net proceeds to us, together with any other information that we reasonably believe is
required to comply with the Securities Act and the Exchange Act. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Other Relationships </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Agents, Forward Purchasers and their respective affiliates are full service financial institutions engaged in various activities, which may
include securities trading, commercial and investment banking, financial advisory, investment management, investment research, principal investment, hedging, financing and brokerage activities. Certain of the Agents, Forward Purchasers and their
respective affiliates have, from time to time, performed, and may in the future perform, various financial advisory and investment banking services for us, for which they received or will receive customary fees and expenses. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As of the date of this prospectus supplement, affiliates of certain of the Agents in this offering are lenders under our 2024 credit
facilities and 2025 term loan. As described above under &#8220;Use of Proceeds,&#8221; we may use a portion of the net proceeds from this offering or from any forward sale agreement to repay the outstanding balance under our 2024 credit facilities
and 2025 term loan, if any, such affiliates of the applicable Agents therefore may receive their proportionate share of any amount that is repaid with the net proceeds from this offering or from any forward sale agreement. Likewise, to the extent
that net proceeds from this offering or upon physical settlement of any forward sale agreement are applied to pay any other indebtedness of ours that may be held by any of the Agents or any of their respective affiliates, such Agents or affiliates,
as the case may be, will receive proceeds of such offering or settlement through the repayment of that indebtedness. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In addition, in the
ordinary course of their various business activities, the Agents, Forward Purchasers and their respective affiliates may make or hold a broad array of investments and actively trade debt and equity securities (or related derivative securities) and
financial instruments (including bank loans) for their own account and for the accounts of their customers and may at any time hold long and short positions in such securities and instruments. Such investments and securities activities may involve
our securities and instruments (directly, as collateral securing other obligations or otherwise) and/or persons and entities with relationships with us. The Agents, Forward Purchasers and their respective affiliates may also make investment
recommendations or publish or express independent research views in respect of such securities or instruments and may at any time hold, or recommend to clients that they acquire, long or short positions in such securities and instruments. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If we enter into a forward sale agreement with any Forward Purchaser, we expect that such Forward Purchaser (or its affiliate) will attempt to
borrow from third parties and sell, through the relevant Agent, acting as Forward Seller, shares of our common stock to hedge such Forward Purchaser&#8217;s exposure under such forward sale agreement. All of the net proceeds from the sale of any
such borrowed shares will be paid to the applicable Forward Purchaser (or one or more of its affiliates). Each Forward Purchaser will be either an Agent or an affiliate of an Agent. As a result, an Agent or its affiliate will receive the net
proceeds from any sale of borrowed shares of our common stock made in connection with any forward sale agreement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-14 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="supptx111323_8"></A>LEGAL MATTERS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Venable LLP will pass upon the validity of the common stock offered by this prospectus supplement. King&nbsp;&amp; Spalding LLP will pass upon
certain tax matters related to the Company. Sidley Austin LLP will act as counsel to the Agents and the Forward Purchasers. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-15 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="supptx111323_9"></A>EXPERTS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The financial statements and management&#8217;s assessment of the effectiveness of internal control over financial reporting (which is
included in Management&#8217;s Report on Internal Control over Financial Reporting) incorporated in this prospectus supplement by reference to the Annual Report on Form <FONT STYLE="white-space:nowrap">10-K</FONT> for the year ended
December&nbsp;31, 2025 have been so incorporated in reliance on the report of PricewaterhouseCoopers LLP, an independent registered public accounting firm, given on the authority of said firm as experts in auditing and accounting. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-16 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="supptx111323_10"></A>WHERE YOU CAN FIND MORE INFORMATION </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We have filed a registration statement on Form <FONT STYLE="white-space:nowrap">S-3</FONT> with the SEC in connection with, among other
offerings of securities, the offering of shares of our common stock pursuant to this prospectus supplement. We are subject to the information and periodic reporting requirements of the Exchange Act and we file annual, quarterly and current reports
and other information with the SEC. Our SEC filings are available over the Internet at the SEC&#8217;s website at www.sec.gov. Our SEC filings are also available in the investor relations portion of our website at www.curbline.com. The information
on, or accessible through, our website is not part of this prospectus and the accompanying prospectus unless specifically incorporated herein by reference. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This prospectus supplement and the accompanying prospectus do not contain all of the information included in the registration statement. If a
reference is made in this prospectus supplement or the accompanying prospectus to any of our contracts or other documents filed or incorporated by reference as an exhibit to the registration statement, the reference may not be complete, and you
should refer to the filed copy of the contract or document. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="supptx111323_11"></A>INCORPORATION OF CERTAIN INFORMATION BY
REFERENCE </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The SEC allows us to &#8220;incorporate by reference&#8221; into this prospectus supplement and the accompanying prospectus
certain information we file with the SEC prior to the termination of the applicable offering of shares of our common stock pursuant to this prospectus supplement, which means that we can disclose important information to you by referring you to
those documents. Any statement contained in this prospectus supplement, the accompanying prospectus or a document incorporated by reference in this prospectus supplement or the accompanying prospectus will be deemed to be modified or superseded for
purposes of this prospectus supplement or the accompanying prospectus to the extent that a statement contained herein or therein, or in any other subsequently filed document that also is deemed to be incorporated herein or therein by reference,
modifies or supersedes such statement. A statement so modified or superseded will not be deemed, except as so modified or superseded, to constitute a part of this prospectus supplement or the accompanying prospectus. We incorporate by reference the
documents listed below that were filed by us with the SEC and any future filings made by us with the SEC under Section&nbsp;13(a), 13(c), 14 or 15(d) of the Exchange Act after the date of this prospectus supplement but prior to the termination of
this offering; provided, however, that we are not incorporating by reference any information furnished to (but not filed with) the SEC: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Annual Report on <A HREF="http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/0002027317/000119312526043647/curb-20251231.htm">Form
 <FONT STYLE="white-space:nowrap">10-K</FONT></A> for the year ended December&nbsp;
31, 2025, which incorporates certain sections of our <A HREF="http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/0002027317/000119312526120603/curb-20260320.htm">Definitive Proxy Statement on Schedule 14A</A> filed on
March&nbsp;24, 2026; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Quarterly Report on <A HREF="http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/0002027317/000119312526188934/curb-20260331.htm">Form
 <FONT STYLE="white-space:nowrap">10-Q</FONT></A> for the quarter ended March&nbsp;31, 2026; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Current Reports on Form <FONT STYLE="white-space:nowrap">8-K</FONT> filed on <A HREF="http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/0002027317/000119312526048693/d223715d8k.htm">February&nbsp;12,
 2026</A> and <A HREF="http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/0002027317/000119312526213256/curb-20250507.htm">May&nbsp;8, 2026</A>; and </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the description of the Company&#8217;s capital stock contained in the Company&#8217;s Information Statement,
filed as&nbsp;<A HREF="http://www.sec.gov/Archives/edgar/data/2027317/000119312524212125/d17677dex991.htm">Exhibit 99.1</A>&nbsp;to the Company&#8217;s Registration Statement on Form 10 (Commission
<FONT STYLE="white-space:nowrap">File&nbsp;No.&nbsp;001-42265)</FONT> filed on September&nbsp;3, 2024,&nbsp;as amended by any subsequently filed amendments and reports updating such description. </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">You may request a copy of these filings (other than an exhibit to a filing unless that exhibit is specifically incorporated by reference into
that filing) at no cost, by telephone at (216) <FONT STYLE="white-space:nowrap">755-5500</FONT> or by writing to us at the following address: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">CURBLINE PROPERTIES CORP. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">320
PARK AVENUE </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">NEW YORK, NEW YORK 10022 </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-17 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>PROSPECTUS </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g111323g00s03.jpg" ALT="LOGO" STYLE="width:3.05837in;height:0.861683in;">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:20pt; font-family:Times New Roman" ALIGN="center"><B>CURBLINE PROPERTIES CORP. </B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:14pt; font-family:Times New Roman" ALIGN="center"><B>Common Stock </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:Times New Roman" ALIGN="center"><B>Preferred
Stock </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:Times New Roman" ALIGN="center"><B>Depositary Shares </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:Times New Roman" ALIGN="center"><B>Warrants </B></P>
<P STYLE="font-size:48pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center><DIV STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:26%">&nbsp;</DIV></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Curbline Properties Corp. may, from time to time, offer and sell shares of its common stock, preferred stock, depositary shares representing preferred stock
and warrants. You should read this prospectus and any applicable prospectus supplement carefully before you invest. We may offer and sell these securities from time to time in one or more offerings. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We refer to common stock, preferred stock, depositary shares and warrants registered hereunder collectively as the &#8220;securities&#8221; in this
prospectus. We may sell these securities directly to you, through underwriters, dealers or agents we select, or through a combination of these methods. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Each time that we sell securities under this prospectus, we will provide a prospectus supplement or other offering material that will contain specific
information about the terms of that offering. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Curbline Properties Corp. common stock is traded on the New York Stock Exchange under the symbol
&#8220;CURB.&#8221; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman"><B>Investment in our securities involves risk. See &#8220;<A HREF="#tx111323_6">Risk Factors</A>&#8221; beginning on
page 5 of this prospectus, the risk factors in our periodic reports filed from time to time with the Securities and Exchange Commission and any risk factors set forth in the accompanying prospectus supplement and in the documents incorporated by
reference into the accompanying prospectus supplement. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman"><B>Neither the Securities and Exchange Commission nor any state securities
commission has approved or disapproved of these securities or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>This prospectus is dated October 1, 2025. </B></P>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="toc1"></A>TABLE OF CONTENTS </B></P>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="97%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#tx111323_1">ABOUT THIS PROSPECTUS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#tx111323_2">CURBLINE PROPERTIES CORP</A>.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#tx111323_3">WHERE YOU CAN FIND MORE INFORMATION</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#tx111323_4">INCORPORATION OF CERTAIN INFORMATION BY REFERENCE</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#tx111323_5">CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#tx111323_6">RISK FACTORS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#tx111323_7">USE OF PROCEEDS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#tx111323_8">DESCRIPTION OF CAPITAL STOCK</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#tx111323_9">DESCRIPTION OF DEPOSITARY SHARES</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">11</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#tx111323_10">DESCRIPTION OF WARRANTS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">15</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#tx111323_11">CERTAIN PROVISIONS OF MARYLAND LAW AND CURBLINE PROPERTIES CORP.&#8217;S CHARTER
 AND BYLAWS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">17</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#tx111323_12">CERTAIN MATERIAL U.S. FEDERAL INCOME TAX CONSIDERATIONS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">23</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#tx111323_13">PLAN OF DISTRIBUTION</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">46</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#tx111323_14">LEGAL MATTERS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">48</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#tx111323_15">EXPERTS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">49</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">i </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="tx111323_1"></A>ABOUT THIS PROSPECTUS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This prospectus is part of a registration statement that we have filed with the Securities and Exchange Commission (the &#8220;SEC&#8221;) using a
&#8220;shelf&#8221; registration process. Under this shelf process, we may sell common stock, preferred stock, depositary shares and warrants in one or more offerings. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This prospectus provides you with a general description of those securities. Each time we sell securities, we will provide a prospectus supplement that will
contain specific information about the terms of that offering. The prospectus supplement and any related free writing prospectus may also add to, update or change information contained in this prospectus. You should carefully read this prospectus,
any applicable prospectus supplement and any free writing prospectus relating to the specific offering of securities together with the additional information described under the heading &#8220;Where You Can Find More Information.&#8221; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The registration statement that contains this prospectus (including the exhibits to the registration statement) contains additional information about the
Company and the securities offered under this prospectus. That registration statement can be read at the SEC&#8217;s website as discussed under the heading &#8220;Where You Can Find More Information.&#8221; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>You should rely only on the information contained in or incorporated by reference into this prospectus, the accompanying prospectus supplement or any
applicable free writing prospectus in making a decision about whether to invest in our common stock. We have not, and the Agents, the Forward Sellers and the Forward Purchasers have not, authorized any other person to provide you with different or
additional information. If anyone provides you with different or additional information, you should not rely on it. This prospectus and the accompanying prospectus supplement do not constitute an offer to sell, or a solicitation of an offer to
purchase, any securities in any jurisdiction where it is unlawful to make such offer or solicitation. You should assume that the information appearing in this prospectus, the accompanying prospectus supplement, any applicable free writing prospectus
and the documents incorporated by reference herein or therein is accurate only as of their respective dates or on the date or dates which are specified in these documents. Our business, financial condition, liquidity, results of operations and
prospects may have changed since those dates. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Unless otherwise stated or the context otherwise requires, references in this prospectus to
&#8220;Curbline,&#8221; &#8220;we,&#8221; &#8220;us&#8221; and &#8220;our&#8221; refer, collectively, to Curbline Properties Corp. and its consolidated subsidiaries, including Curbline Properties LP and its subsidiaries; and references to &#8220;the
Company&#8221; refer only to Curbline Properties Corp. and not to any of its subsidiaries or affiliates. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="tx111323_2"></A>CURBLINE PROPERTIES CORP. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Curbline Properties Corp. is a Maryland corporation that operates as a real estate investment trust (a &#8220;REIT&#8221;) for federal income tax purposes and
primarily engages in the business of owning, leasing, acquiring, and managing convenience shopping centers positioned on the curbline of well-trafficked intersections and major vehicular corridors in suburban, high household income communities. The
Company was incorporated in 2023. Curbline Properties LP (the &#8220;Operating Partnership&#8221;) is a Delaware limited partnership formed to serve as the Company&#8217;s majority-owned partnership subsidiary and to own, through affiliates, all of
our real estate properties and assets. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On October&nbsp;1, 2024, the Company, the Operating Partnership and SITE Centers Corp. (&#8220;SITE
Centers&#8221;) entered into a Separation and Distribution Agreement, pursuant to which, among other things, SITE Centers transferred its portfolio of convenience shopping centers, $800.0&nbsp;million of unrestricted cash and certain other assets,
liabilities and obligations to Curbline and effected a pro rata special distribution of all of the outstanding shares of Curbline common stock to common shareholders of SITE Centers as of September&nbsp;23, 2024. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Our executive offices are located at 320 Park Ave, New York, New York 10022, and our telephone number is (216)
<FONT STYLE="white-space:nowrap">755-5500.</FONT> Our website is www.curbline.com. Information contained on our website is not a part of this prospectus. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="tx111323_3"></A>WHERE YOU CAN FIND MORE INFORMATION </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company is subject to the information and periodic reporting requirements of the Securities Exchange Act of 1934, as amended (the &#8220;Exchange
Act&#8221;), and the Company files annual, quarterly and current reports and other information with the SEC. The Company&#8217;s SEC filings are available over the Internet at the SEC&#8217;s website at www.sec.gov. The Company&#8217;s SEC filings
are also available in the investor relations portion of the Company&#8217;s website at www.curbline.com. The information on, or accessible through, our website is not part of this prospectus unless specifically incorporated herein by reference. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="tx111323_4"></A>INCORPORATION OF CERTAIN INFORMATION BY REFERENCE </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The SEC allows us to &#8220;incorporate by reference&#8221; information in documents that have been filed with it. We have elected to use a similar procedure
in connection with this prospectus and any prospectus supplement, which means that we can disclose important information about us by referring you to those documents that are considered part of this prospectus and any prospectus supplement. Any
statement contained in this prospectus, any prospectus supplement or a document incorporated by reference in this prospectus or any prospectus supplement will be deemed to be modified or superseded for purposes of this prospectus or any prospectus
supplement to the extent that a statement contained herein or therein, or in any other subsequently filed document that also is deemed to be incorporated herein or therein by reference, modifies or supersedes such statement. A statement so modified
or superseded will not be deemed, except as so modified or superseded, to constitute a part of this prospectus or any prospectus supplement. We incorporate by reference the documents listed below that were filed by us with the SEC and any future
filings made by us with the SEC under Section&nbsp;13(a), 13(c), 14 or 15(d) of the Exchange Act after the date of this prospectus but prior to the termination of the offering of the securities described in this prospectus; provided, however, that
we are not incorporating by reference any information furnished to (but not filed with) the SEC: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Annual Report on <A HREF="http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/2027317/000095017025024834/curb-20241231.htm">Form
 <FONT STYLE="white-space:nowrap">10-K</FONT></A> for the year ended December&nbsp;
31, 2024, which incorporates certain sections of our <A HREF="http://www.sec.gov/Archives/edgar/data/2027317/000119312525064065/d900448ddef14a.htm">Definitive Proxy Statement on Schedule 14A</A> filed on March&nbsp;26, 2025; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Quarterly Reports on Form <FONT STYLE="white-space:nowrap">10-Q</FONT> for the quarters ended <A HREF="http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/2027317/000095017025058697/curb-20250331.htm">March&nbsp;31,
 2025</A> and <A HREF="http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/2027317/000095017025099623/curb-20250630.htm">June&nbsp;30, 2025</A>; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Current Reports on Form <FONT STYLE="white-space:nowrap">8-K</FONT> filed on <A HREF="http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/2027317/000095017025047689/curb-20250328.htm">March&nbsp;31,
 2025</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/2027317/000095017025067473/curb-20250507.htm">May&nbsp;
9, 2025</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/2027317/000095017025090177/curb-20250626.htm">June&nbsp;
26, 2025</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/2027317/000095017025096607/curb-20250715.htm">July&nbsp;
17, 2025</A> and <A HREF="http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/2027317/000119312525223185/curb-20250926.htm">September&nbsp;29, 2025</A>; and </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the description of the Company&#8217;s capital stock contained in the Company&#8217;s Information Statement,
filed as&nbsp;<A HREF="http://www.sec.gov/Archives/edgar/data/2027317/000119312524212125/d17677dex991.htm">Exhibit 99.1</A>&nbsp;to the Company&#8217;s Registration Statement on Form 10 (Commission
<FONT STYLE="white-space:nowrap">File&nbsp;No.&nbsp;001-42265)</FONT> filed on September&nbsp;3, 2024,&nbsp;as amended by any subsequently filed amendments and reports updating such description. </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">You may request a copy of these filings (other than an exhibit to a filing unless that exhibit is specifically incorporated by reference into that filing) at
no cost, by telephone at (216) <FONT STYLE="white-space:nowrap">755-5500</FONT> or by writing to us at the following address: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Curbline
Properties Corp. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">320 Park Avenue </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">New York, New York 10022 </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="tx111323_5"></A>CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This prospectus and any prospectus supplement and the documents incorporated by reference herein and therein contain &#8220;forward-looking&#8221; statements
within the meaning of Section&nbsp;27A of the Securities Act of 1933 and Section&nbsp;21E of the Securities Exchange Act of 1934, both as amended, with respect to our expectation for future periods. Although we believe that the expectations
reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be achieved. For this purpose, any statements contained herein that are not historical fact, including statements
regarding the Company&#8217;s projected operational and financial performance, strategy, prospects and plans, may be deemed to be forward-looking statements. There are a number of important factors that could cause our results to differ materially
from those indicated by such forward-looking statements, including, among other factors, (1)&nbsp;changes in the economic performance and value of our properties as a result of broad economic and local conditions, such as inflation, interest rate
volatility and market reaction to tariffs and other trade policies; (2)&nbsp;changes in local conditions such as an increase or decrease in the supply of, or demand for, retail real estate space in our geographic markets; (3)&nbsp;the impact of
changes in consumer trends, distribution channels, suburban population, retailing practices and the space needs of tenants; (4)&nbsp;our dependence on rental income which depends on the successful operations and financial condition of tenants, the
loss of which, including as a result of downsizing or bankruptcy, could result in significant occupancy loss and negatively impact rental income from our properties; (5)&nbsp;our ability to enter into new leases and renew existing leases, in each
case, on favorable terms; (6)&nbsp;our ability to identify, acquire, construct or develop additional properties that produce the cash flows that we expect and may be limited by competitive pressures, and our ability to manage our growth effectively
and capture the efficiencies of scale that we expect from expansion; (7)&nbsp;potential environmental liabilities; (8)&nbsp;our ability to secure debt and equity financing on commercially acceptable terms or at all; (9)&nbsp;the illiquidity of real
estate investments which could limit our ability to make changes to our portfolio to respond to economic or other conditions; (10)&nbsp;property damage, expenses related thereto and other business and economic consequences (including the potential
loss of rental revenues) resulting from climate change, natural disasters, public health crises and weather-related factors in locations where we own properties, the ability to estimate accurately the amounts thereof and the sufficiency and timing
of any insurance recovery payments related to such damages; (11)&nbsp;any change in strategy; (12)&nbsp;the effect of future offerings of debt and equity securities on the value of our common stock; (13)&nbsp;any disruption, failure or breach of the
networks or systems on which we rely, including as a result of cyber-attacks; (14)&nbsp;impairment in the value of real estate property that we own; (15)&nbsp;changes in tax laws impacting REITs and real estate in general, as well as our ability to
maintain REIT status; and (16)&nbsp;our ability to retain and attract key management personnel. For additional factors that could cause our results to differ materially from those indicated in the forward-looking statements, please refer to our
Annual Report on Form <FONT STYLE="white-space:nowrap">10-K</FONT> under &#8220;Item 1A. Risk Factors&#8221; and our subsequent reports filed with the SEC. We undertake no obligation to publicly revise these forward-looking statements to reflect
events or circumstances that arise after the date hereof. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="tx111323_6"></A>RISK FACTORS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Investment in any securities offered pursuant to this prospectus involves risks. Before acquiring any offered securities pursuant to this prospectus, you
should carefully consider the information contained or incorporated by reference in this prospectus or in any accompanying prospectus supplement, including the risk factors incorporated by reference to our most recent Annual Report on Form <FONT
STYLE="white-space:nowrap">10-K,</FONT> as updated by our subsequent reports filed with the SEC, and the other information contained or incorporated by reference in this prospectus, as updated by our subsequent filings under the Exchange Act, and
the risk factors and other information contained in the applicable prospectus supplement before acquiring any of such securities. The occurrence of any of these risks might cause you to lose all or a part of your investment in the offered
securities. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="tx111323_7"></A>USE OF PROCEEDS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Unless otherwise indicated in a prospectus supplement, we intend to use the net proceeds from the sale of any of our securities under this prospectus for
general corporate purposes, including working capital, investment in real estate and repayment of debt. Further details relating to the use of the net proceeds from the sale of securities under this prospectus will be set forth in the applicable
prospectus supplement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="tx111323_8"></A>DESCRIPTION OF CAPITAL STOCK </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>We have summarized certain terms and provisions of the Company&#8217;s capital stock in this section. The summary is not complete. We have also filed the
Company&#8217;s charter and bylaws as exhibits to the registration statement. The rights of the Company&#8217;s stockholders are also subject to Maryland law, under which the Company was incorporated. You should read the charter and bylaws for
additional information before you buy any of our common stock or preferred stock. </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>As used in this section, references to &#8220;we,&#8221;
&#8220;our&#8221; or &#8220;us&#8221; refer solely to Curbline Properties Corp. and not to any of its subsidiaries, unless otherwise expressly stated or the context otherwise requires. </I></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Authorized Capital Stock </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Under our charter, our
authorized capital stock consists of 400,000,000 shares of common stock with a par value of $0.01 per share (&#8220;common stock&#8221;) and 100,000,000 shares of preferred stock with a par value of $0.01 per share (&#8220;preferred stock&#8221;).
As of October 1, 2025, (a) 105,220,092 shares of our common stock were issued and outstanding and (b)&nbsp;no shares of preferred stock were issued and outstanding. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Common Stock </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Voting Rights </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Holders of our common stock are entitled to one vote per share on all matters voted on by stockholders, including election of our directors. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Dividend Rights </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Holders of our common stock are
entitled to receive dividends when, as and if declared by our board of directors, out of funds legally available therefor. The rights, powers, preferences and privileges of holders of our common stock will be subject to those of the holders of any
preferred stock or any other class or series of shares of capital stock we may authorize and issue in the future. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Liquidation Rights </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If the Company is liquidated, dissolved or involved in any <FONT STYLE="white-space:nowrap">winding-up,</FONT> the holders of our common stock are entitled to
receive ratably any assets remaining after we have fully paid all of our liabilities, including any preferential amounts we owe with respect to any preferred stock we may authorize and issue in the future. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Preemptive or Other Rights </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Holders of our common
stock do not have preemptive rights, which means that they have no right to acquire any additional shares of common stock that we may subsequently issue. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Restrictions on Ownership and Transfer </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In order for us
to qualify as a REIT under the Internal Revenue Code of 1986 (the &#8220;Code&#8221;), not more than 50% in value of our outstanding capital stock may be owned, directly or indirectly, by five or fewer individuals during the last half of a taxable
year. &#8220;Individual&#8221; is defined in the Code to include certain entities. In addition, our capital stock must be beneficially owned by 100 or more persons during at least 335 days of a taxable year of 12 months or during a proportionate
part of a shorter taxable year. Additionally, certain other requirements must be satisfied. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">To help ensure that five or fewer individuals do not own more than 50% in value of our outstanding common
stock, our charter provides that, subject to certain exceptions (including those set forth below), no holder may own, or be deemed to own by virtue of the attribution provisions of the Code, more than 8% of our outstanding common stock prior to an
exempt holder reduction event or more than 9.8% of our outstanding common stock from and after an exempt holder reduction event, which we refer to as the ownership limit. Under our charter, an &#8220;exempt holder reduction event&#8221; means the
date on which our board of directors determines, based on the annual written notice delivered by the exempt holder to us pursuant to our charter, that the beneficial ownership of the exempt holder is 7.5% or less of our outstanding common stock. Our
charter provides that the &#8220;exempt holder&#8221; may own, or be deemed to own by virtue of the attribution provisions of the Code, no more than 17.5% of our outstanding common stock prior to an exempt holder reduction event. Pursuant to our
charter, the &#8220;exempt holder&#8221; includes, collectively, (a)&nbsp;Professor Werner Otto, his wife Maren Otto and/or all descendants of Professor Werner Otto, including, without limitation, Alexander Otto, (b)&nbsp;trusts or family
foundations established for the benefit of the individuals named in (a)&nbsp;above, and (c)&nbsp;any partnership, firm, corporation, association, trust, unincorporated organization, joint venture, limited liability company or other legal entity, in
which the individuals or entities named under (a)&nbsp;hold (either directly or indirectly) more than 50% of the voting rights or more than 50% of the equity capital of any such partnership, firm, corporation, association, trust, unincorporated
organization, joint venture, limited liability company, or other legal entity; provided that, from and after an exempt holder reduction event, no person, individually or collectively with any other persons, shall be, or shall be deemed an exempt
holder for purposes of our charter. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As rent from a related party tenant (any tenant 10% of which is owned, directly or constructively, by a REIT,
including an owner of 10% or more of a REIT) is not qualifying rent for purposes of the gross income tests under the Code, our charter provides that no individual or entity may own, or be deemed to own by virtue of the attribution provisions of the
Code (which differ from the attribution provisions applied to the ownership limit), in excess of 9.8% of our outstanding common stock, which we refer to as the related party limit. In connection with our separation from SITE Centers, we entered into
a waiver agreement pursuant to which we waived the related party limit contained in our charter that would otherwise have prohibited Alexander Otto and his family (and other persons who may be deemed to have constructive ownership of common stock
owned by the Otto family) from constructively owning more than 9.8% of our outstanding common stock. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Our board of directors, with a ruling from the
Internal Revenue Service (the &#8220;IRS&#8221;) or an opinion or other advice of counsel, may exempt a person from the ownership limit if the person would not be deemed an &#8220;individual&#8221; and may exempt a person from the related party
limit if our board of directors is satisfied that the ownership will not then or in the future jeopardize our status as a REIT. Our board of directors may also exempt the exempt holder and any person who would constructively own common stock
constructively owned by the exempt holder from the ownership limit in its sole discretion. As a condition of any exemption, our board of directors will require appropriate representations and undertakings from the applicant with respect to
preserving our REIT status. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Finally, our charter prohibits any transfer of common stock that would cause us to cease to be a &#8220;domestically
controlled qualified investment entity&#8221; as defined in Section&nbsp;897(h)(4)(B) of the Code. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The preceding restrictions on transferability and
ownership of common stock may apply even if our board of directors determines that it is no longer in our best interests to continue to qualify as a REIT. The ownership limit and the related party limit will not be automatically removed even if the
REIT provisions of the Code are changed to no longer contain any ownership concentration limitation or if the ownership concentration limitation is increased. In addition to preserving our status as a REIT, the effects of the ownership limit and the
related party limit are to prevent any person or small group of persons from acquiring unilateral control of us. Any change in the ownership limit, other than modifications that may be made by our board of directors as permitted by our charter,
requires an amendment to our charter, even if our board of directors determines that maintenance of REIT status is no longer in our best interests. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Our charter provides that upon a transfer or <FONT STYLE="white-space:nowrap">non-transfer</FONT> event that
results in a person beneficially or constructively owning common stock in excess of the applicable ownership limits or that results in us being &#8220;closely held&#8221; within the meaning of Section&nbsp;856(h) of the Code, the person, which we
refer to as a common stock prohibited owner, will not acquire or retain any rights or beneficial economic interest in the shares that would exceed such applicable ownership limits or result in us being closely held, which we refer to as common
excess shares. Instead, the common excess shares will be automatically transferred to a person or entity unaffiliated with and designated by us to serve as trustee of a trust for the exclusive benefit of a charitable beneficiary to be designated by
us within five days after the discovery of the transaction that created the common excess shares. The trustee will have the exclusive right to designate a person who may acquire the common excess shares without violating the applicable restrictions,
which we refer to as a common stock permitted transferee, to acquire all of the shares held by the trust. The common stock permitted transferee must pay the trustee an amount equal to the fair market value (determined at the time of transfer to the
permitted transferee) for the common excess shares. The trustee will pay to the common stock prohibited owner the lesser of (a)&nbsp;the value of the shares at the time they became common excess shares and (b)&nbsp;the price received by the trustee
from the sale of the common excess shares to a common stock permitted transferee. The beneficiary will receive the excess of (x)&nbsp;the sale proceeds from the transfer to a common stock permitted transferee over (y)&nbsp;the amount paid to the
common stock prohibited owner, if any, in addition to any dividends paid with respect to the common excess shares. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Our charter provides that all persons
who own, directly or by virtue of the attribution provisions of the Code, more than 5% of our outstanding common stock must give written notice to us stating the name and address of such person, the number of shares owned, and a description of how
such shares are held each year by January 31. In addition, each of those stockholders must provide supplemental information that we may request, in good faith, in order to determine our status as a REIT. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Listing </B></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Our common stock is listed on the NYSE under the
symbol &#8220;CURB.&#8221; </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Transfer Agent and Registrar </B></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Computershare Trust Company, N.A. serves as the transfer agent and registrar for the common stock. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Preferred Stock </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Our charter authorizes our board of
directors to provide for the issuance of up to 100,000,000&nbsp;shares of preferred stock, $0.01 par value per share, in one or more classes or series, with such terms, preferences, conversion or other rights, voting powers, restrictions, ownership
limitations, limitations as to dividends or other distributions, qualifications and redemption provisions, as our board of directors may approve, subject to certain restrictions. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Prior to issuance of shares of preferred stock of any class or series, the terms and conditions of such preferred stock, including any convertible preferred
stock, will be set forth in articles supplementary for the applicable series or class of preferred stock and described in the applicable prospectus supplement relating to the issuance of such preferred stock. Because our board of directors has the
power to establish the preferences and rights of each class or series of preferred stock, it may afford the holders of any series or class of preferred stock preferences, powers, and rights senior to the rights of holders of common stock or other
preferred stock, subject to certain restrictions. If we ever authorize, create and issue preferred stock with a distribution preference over common stock or other preferred stock, payment of any distribution preferences of new outstanding preferred
stock would reduce the amount of funds available for the payment of distributions on the common stock and junior preferred stock. Further, holders of preferred stock are normally entitled to receive a preference payment if the Company liquidates,
dissolves, or winds up before any payment is made to the common stockholders, likely reducing the amount common stockholders and junior preferred stockholders, if any, would otherwise receive upon such an
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">9 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
occurrence. In addition, under certain circumstances, the issuance of additional preferred stock may delay, prevent, render more difficult or tend to discourage the following: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">a merger tender offer, or proxy contest; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the assumption of control by a holder of a large block of the Company&#8217;s securities or
</P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the removal of incumbent management. </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Also, subject to certain restrictions, our board of directors, without stockholder approval, may issue additional preferred stock with voting and conversion
rights that could adversely affect the holders of common stock or preferred stock. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">10 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="tx111323_9"></A>DESCRIPTION OF DEPOSITARY SHARES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>As used in this section, references to &#8220;we,&#8221; &#8220;our&#8221; or &#8220;us&#8221; refer solely to Curbline Properties Corp. and not to any of
its subsidiaries, unless otherwise expressly stated or the context otherwise requires. </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We may, at our option, elect to offer depositary shares rather
than full shares of preferred stock. Each depositary share will represent ownership of and entitlement to all rights and preferences of a fraction of a share of preferred stock of a specified series or class (including dividend, voting, redemption
and liquidation rights). The applicable fraction will be specified in a prospectus supplement. The shares of preferred stock represented by the depositary shares will be deposited with a depositary named in the applicable prospectus supplement,
under a deposit agreement, among us, the depositary and the holders of the certificates evidencing depositary shares (&#8220;depositary receipts&#8221;). Depositary receipts will be delivered to those persons purchasing depositary shares in the
offering. The depositary will be the transfer agent, registrar and dividend disbursing agent for the depositary shares. Holders of depositary receipts agree to be bound by the deposit agreement, which requires holders to take certain actions such as
filing proof of residence and paying certain charges. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The summary of the terms of the depositary shares contained in this prospectus shall apply unless
otherwise specified in the applicable prospectus supplement. This summary, as modified by any prospectus supplement, does not purport to be complete and is subject to, and qualified in its entirety by, the provisions of the deposit agreement, our
charter and the form of articles supplementary for the applicable series or class of preferred stock. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Dividends </B></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The depositary will distribute all cash dividends or other cash distributions received in respect of the series or class of preferred stock represented by the
depositary shares to the record holders of depositary receipts in proportion to the number of depositary shares owned by such holders on the relevant record date, which will be the same date as the record date fixed by us for the applicable series
or class of preferred stock. The depositary, however, will distribute only such amount as can be distributed without attributing to any depositary share a fraction of one cent, and any balance not so distributed will be added to and treated as part
of the next sum received by the depositary for distribution to record holders of depositary receipts then outstanding. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In the event of a distribution
other than in cash, the depositary will distribute property received by it to the record holders of depositary receipts entitled thereto, in proportion, as nearly as may be practicable, to the number of depositary shares owned by such holders on the
relevant record date, unless the depositary determines (after consultation with us) that it is not feasible to make such distribution, in which case the depositary may (with our approval) adopt any other method for such distribution as it deems
equitable and appropriate, including the sale of such property (at such place or places and upon such terms as it may deem equitable and appropriate) and distribution of the net proceeds from such sale to such holders. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Liquidation Preference </B></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In the event of the liquidation,
dissolution or winding up of the affairs of the Company, whether voluntary or involuntary, the holders of each depositary share will be entitled to the fraction of the liquidation preference accorded each share of the applicable series or class of
preferred stock as set forth in the applicable prospectus supplement. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Redemption </B></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If the series or class of preferred stock represented by the applicable series of depositary shares is redeemable, such depositary shares will be redeemed from
the proceeds received by the depositary resulting from the redemption, in whole or in part, of preferred stock held by the depositary. Whenever the Company redeems any </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">11 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
preferred stock held by the depositary, the depositary will redeem, as of the same redemption date, the number of depositary shares representing the preferred stock so redeemed. The depositary
will mail the notice of redemption promptly upon receipt of such notice from us to the record holders of the depositary receipts. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Voting </B></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Promptly upon receipt of notice of any meeting at which the holders of the series or class of preferred stock represented by the applicable series of
depositary shares are entitled to vote, the depositary will mail the information contained in such notice of meeting to the record holders of the depositary receipts as of the record date for such meeting. Each such record holder of depositary
receipts will be entitled to instruct the depositary as to the exercise of the voting rights pertaining to the number of shares of preferred stock represented by such record holder&#8217;s depositary shares. The depositary will endeavor, insofar as
practicable, to vote such preferred stock represented by such depositary shares in accordance with such instructions, and we will agree to take all action which may be deemed necessary by the depositary in order to enable the depositary to do so.
The depositary will abstain from voting any of the preferred stock to the extent that it does not receive specific instructions from the holders of depositary receipts. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Withdrawal of Preferred Stock </B></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Upon surrender of
depositary receipts at the principal office of the depositary and payment of any unpaid amount due the depositary, and subject to the terms of the deposit agreement, the owner of the depositary shares evidenced thereby is entitled to delivery of the
number of full shares of preferred stock and all money and other property, if any, represented by such depositary shares. Partial shares of preferred stock will not be issued. If the depositary receipts delivered by the holder evidence a number of
depositary shares in excess of the number of depositary shares representing the number of full shares of preferred stock to be withdrawn, the depositary will deliver to such holder at the same time a new depositary receipt evidencing such excess
number of depositary shares. Holders of preferred stock thus withdrawn will not thereafter be entitled to deposit such stock under the deposit agreement or to receive depositary receipts evidencing depositary shares therefor. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Amendment and Termination of Deposit Agreement </B></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The form
of depositary receipt evidencing the depositary shares and any provision of the deposit agreement may at any time and from time to time be amended by agreement between us and the depositary. However, any amendment which materially and adversely
alters the rights of the holders (other than any change in fees) of depositary shares will not be effective unless such amendment has been approved by at least a majority of the depositary shares then outstanding. No such amendment may impair the
right, subject to the terms of the deposit agreement, of any owner of any depositary shares to surrender the depositary receipt evidencing such depositary shares with instructions to the depositary to deliver to the holder the preferred stock and
all money and other property, if any, represented thereby, except in order to comply with mandatory provisions of applicable law. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The deposit agreement
will be permitted to be terminated by us upon not less than 30 days prior written notice to the applicable depositary if (i)&nbsp;such termination is necessary to preserve our status as a REIT or (ii)&nbsp;a majority of each series or class of
preferred stock affected by such termination consents to such termination, whereupon such depositary will be required to deliver or make available to each holder of depositary receipts, upon surrender of the depositary receipts held by such holder,
such number of whole or fractional shares of preferred stock as are represented by the depositary shares evidenced by such depositary receipts together with any other property held by such depositary with respect to such depositary receipts. The
Company will agree that if the deposit agreement is terminated to preserve our status as a REIT, then we will use our best efforts to list the preferred stock issued upon surrender of the related depositary shares on a national securities exchange.
In addition, the deposit agreement will automatically terminate if (i)&nbsp;all outstanding depositary shares thereunder shall have been redeemed, (ii)&nbsp;there shall have been a final distribution in respect of the related preferred stock in
connection </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">12 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
with any liquidation, dissolution or <FONT STYLE="white-space:nowrap">winding-up</FONT> of the Company and such distribution shall have been distributed to the holders of depositary receipts
evidencing the depositary shares representing such preferred stock or (iii)&nbsp;each share of preferred stock shall have been converted into stock of the Company not so represented by depositary shares. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Charges of Depositary </B></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We will pay all transfer and other
taxes and governmental charges arising solely from the existence of the depositary arrangements. We will pay charges of the depositary in connection with the initial deposit of the preferred stock and initial issuance of the depositary shares, and
redemption of the preferred stock and all withdrawals of preferred stock by owners of depositary shares. Holders of depositary receipts will pay transfer, income and other taxes and governmental charges and certain other charges as are provided in
the deposit agreement to be for their accounts. In certain circumstances, the depositary may refuse to transfer depositary shares, may withhold dividends and distributions and sell the depositary shares evidenced by such depositary receipt if such
charges are not paid. The applicable prospectus supplement will include information with respect to fees and charges, if any, in connection with the deposit or substitution of the underlying securities, the receipt and distribution of dividends, the
sale or exercise of rights, the withdrawal of the underlying security, and the transferring, splitting or grouping of receipts. The applicable prospectus supplement will also include information with respect to the right to collect the fees and
charges, if any, against dividends received and deposited securities. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Miscellaneous </B></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The depositary will forward to the holders of depositary receipts all notices, reports and proxy soliciting material from us which are delivered to the
depositary and which we are required to furnish to the holders of preferred stock. In addition, the depositary will make available for inspection by holders of depositary receipts at the principal office of the depositary, and at such other places
as it may from time to time deem advisable, any notices, reports and proxy soliciting material received from us which are received by the depositary as the holder of preferred stock. The applicable prospectus supplement will include information
about the rights, if any, of holders of depositary receipts to inspect the transfer books of the depositary and the list of holders of depositary receipts. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Neither we nor the depositary assumes any obligation or will be subject to any liability under the deposit agreement to holders of depositary receipts other
than for its negligence or willful misconduct. Neither we nor the depositary will be liable if it is prevented or delayed by law or any circumstance beyond its control in performing its obligations under the deposit agreement. The obligations of the
Company and the depositary under the deposit agreement will be limited to performance in good faith of their duties thereunder, and they will not be obligated to prosecute or defend any legal proceeding in respect of any depositary shares or
preferred stock unless satisfactory indemnity is furnished. The Company and the depositary may rely on written advice of counsel or accountants, on information provided by holders of the depositary receipts or other persons believed in good faith to
be competent to give such information and on documents believed to be genuine and to have been signed or presented by the proper party or parties. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In the
event the depositary shall receive conflicting claims, requests or instructions from any holders of depositary receipts, on the one hand, and us, on the other hand, the depositary shall be entitled to act on such claims, requests or instructions
received from us. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Resignation and Removal of Depositary </B></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The depositary may resign at any time by delivering to us notice of its election to do so, and we may at any time remove the depositary, any such resignation
or removal to take effect upon the appointment of a successor </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">13 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
depositary and its acceptance of such appointment. Such successor depositary must be appointed within 60 days after delivery of the notice for resignation or removal and must be a bank or trust
company having its principal office in the United States and having a combined capital and surplus of at least $150,000,000. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">14 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="tx111323_10"></A>DESCRIPTION OF WARRANTS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>As used in this section, references to &#8220;we,&#8221; &#8220;our&#8221; or &#8220;us&#8221; refer solely to Curbline Properties Corp. and not to any of
its subsidiaries, unless otherwise expressly stated or the context otherwise requires. </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We may issue warrants for the purchase of shares of common
stock, preferred stock or depositary shares, and may issue warrants independently or together with common stock, preferred stock or depositary shares or attached to or separate from such securities. We will issue each series of warrants under a
separate warrant agreement and may appoint a bank or trust company as warrant agent, all as specified in the applicable prospectus supplement. Any warrant agent will act solely as our agent in connection with the warrants and will not act for or on
behalf of warrant holders. The following summary sets forth certain general terms and provisions of the warrants that may be offered under this prospectus. Further terms of the warrants and applicable warrant agreements will be set forth in the
applicable prospectus supplement. The terms of any warrants offered under a prospectus supplement may differ from the terms described below. You should read any applicable prospectus supplement relating to the terms of warrants being offered, as
well as the complete warrant agreements and warrant certificates that contain the terms of the warrants. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The applicable prospectus supplement will
describe the terms of the warrants in respect of which this prospectus is being delivered, including, where applicable, the following: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the title of such warrants; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the aggregate number of such warrants outstanding; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the price or prices at which such warrants will be issued; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the type and number of securities purchasable upon exercise of such warrants; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the designation and terms of the other securities, if any, with which such warrants are issued and the number of
such warrants issued with each such offered security; </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the date, if any, on and after which such warrants and the related securities will be separately transferable;
</P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the price at which each security purchasable upon exercise of such warrants may be purchased;
</P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the provisions, if any, for changes to or adjustments in the exercise price; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the date on which the right to exercise such warrants shall commence and the date on which such right shall
expire; </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the minimum or maximum amount of such warrants that may be exercised at any one time; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">information with respect to book-entry procedures, if any; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">any anti-dilution protection; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">a discussion of certain material U.S. federal income tax considerations; and </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">any other terms of such warrants, including terms, procedures and limitations relating to the transferability,
exercise and exchange of such warrants. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">15 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Warrant certificates will be exchangeable for new warrant certificates of different denominations and
warrants may be exercised at the corporate trust office of the warrant agent or any other office indicated in the applicable prospectus supplement. Prior to the exercise of their warrants, holders of warrants will not have any of the rights of
holders of the securities purchasable upon such exercise or to any dividend payments or voting rights, as applicable, as to which holders of the common stock or preferred stock purchasable upon such exercise may be entitled. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Each warrant will entitle the holder to purchase for cash such number of shares of common stock, preferred stock or depository shares, at such exercise price
as shall, in each case, be set forth, or be determinable as set forth, in the applicable prospectus supplement relating to the warrants offered thereby. Unless otherwise specified in the applicable prospectus supplement, holders of the warrants may
exercise the warrants at any time up to the specified time on the expiration date that we set forth in the applicable prospectus supplement. After the close of business on the expiration date, unexercised warrants will be void. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Warrants may be exercised as set forth in the applicable prospectus supplement relating to the warrants. Upon receipt of payment and the warrant certificate
properly completed and duly executed at the corporate trust office of the warrant agent or any other office indicated in the applicable prospectus supplement, the company will, as soon as practicable, forward the securities purchasable upon such
exercise. If less than all of the warrants are presented by such warrant certificate of exercise, a new warrant certificate will be issued for the remaining amount of warrants. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">16 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="tx111323_11"></A>CERTAIN PROVISIONS OF MARYLAND LAW AND CURBLINE PROPERTIES
CORP.&#8217;S CHARTER AND BYLAWS </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>The following description of the terms of the Company&#8217;s charter and bylaws and of certain provisions of
Maryland law is only a summary. For a complete description, we refer you to the applicable Maryland law and to our charter and bylaws, copies of which are filed as exhibits to the registration statement. </I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>As used in this section, references to &#8220;we,&#8221; &#8220;our&#8221; or &#8220;us&#8221; refer solely to Curbline Properties Corp. and not to any of
its subsidiaries, unless otherwise expressly stated or the context otherwise requires. </I></P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Initially Classified Board </B></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Our charter initially divides our board of directors into three classes, designated Class&nbsp;I, Class&nbsp;II and Class&nbsp;III. The directors first
appointed to Class&nbsp;I held office for a term expiring at the annual meeting of stockholders held in 2025, the directors first appointed to Class&nbsp;II will hold office for a term expiring at the annual meeting of stockholders to be held in
2026 and the directors first appointed to Class&nbsp;III will hold office for a term expiring at the annual meeting of stockholders to be held in 2027, and, in each case, until such directors&#8217; successors are duly elected and qualify. At the
annual meeting of stockholders held in 2025, the directors whose terms expired at that meeting were <FONT STYLE="white-space:nowrap">re-elected</FONT> to hold office for a term expiring at the annual meeting of stockholders held in 2027. At the
annual meeting of stockholders held in 2026 and each annual meeting of stockholders held thereafter, the successors to the directors whose terms expire will be elected to hold office for a term expiring at the annual meeting of stockholders held in
the year following the year of their election (e.g., Class&nbsp;II directors elected at the 2026 annual meeting of stockholders will serve until the 2027 annual meeting of stockholders). Consequently, at the 2027 annual meeting of stockholders and
at each annual meeting of stockholders thereafter, each director will stand for election and the board of directors will no longer be divided into classes. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Power to Increase or Decrease Authorized Shares of Capital Stock, Reclassify Unissued Shares of Common Stock, and Classify and Reclassify Unissued Shares
of Preferred Stock </B></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Our charter authorizes our board of directors, with the approval of a majority of the directors and without any action by
stockholders, to amend our charter from time to time to increase or decrease the aggregate number of shares of stock or the number of shares of stock of any class or series that we have the authority to issue. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Our charter also contains a provision permitting our board of directors, by resolution and without approval of stockholders, to (a)&nbsp;reclassify any
unissued common stock, (b)&nbsp;classify any unissued shares of preferred stock and (c)&nbsp;reclassify any previously classified but unissued shares of preferred stock of any class or series, in each case, into one or more classes or series of
stock and establish the preferences, conversion or other rights, voting powers, restrictions, limitations as to dividends or other distributions, qualifications, or terms or conditions of redemption of any such stock, subject to certain
restrictions, including the express terms of any class or series of stock outstanding at the time. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>&#8220;Blank Check&#8221; Preferred Stock </B></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Our charter authorizes &#8220;blank check&#8221; preferred stock, which could be issued by our board of directors without stockholder approval and may contain
voting, liquidation, dividend and other rights superior to our common stock. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Size</B><B><I> </I></B><B>of</B><B><I> </I></B><B>the</B><B><I>
</I></B><B>Board;</B><B><I> </I></B><B>Vacancies; Removal </B></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Our charter and bylaws provide that the number of directors on our board of directors may be
fixed only by our board of directors. Our charter and bylaws provide that our board of directors may increase or decrease its size </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">17 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
and any vacancy on our board of directors may be filled only by the affirmative vote of a majority of the remaining directors then in office, even if the remaining directors do not constitute a
quorum. Our charter also provides that stockholders may remove directors with or without cause by the affirmative vote of the holders of a majority of the shares entitled to vote generally in the election of directors; provided that as long as the
directors are divided into classes, such removal shall only be for cause. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>No Cumulative Voting </B></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Maryland General Corporation Law (&#8220;MGCL&#8221;) provides that stockholders can have the right to cumulate votes in the election of directors if the
corporation&#8217;s charter provides for such rights and the terms on which such cumulative voting rights may be exercised. Our charter does not include a provision providing for any cumulative voting. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Stockholder Action by Written Consent </B></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Our charter
provides that stockholders may not act by written consent unless (a)&nbsp;such written consent is unanimous or (b)&nbsp;the action is advised, and submitted to the stockholders for approval, by our board of directors and the written consent of
stockholders entitled to cast not less than the minimum number of votes that would be necessary to authorize or take the action is delivered to us in accordance with the MGCL. Stockholder action must otherwise take place at the annual or a special
meeting of stockholders. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Special Meeting of Stockholders </B></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The chair of our board of directors, our chief executive officer, our president or our board of directors may call a special meeting of stockholders. Subject
to the provisions of our bylaws, a special meeting of our stockholders to act on any matter that may properly be brought before a meeting of our stockholders must also be called by our secretary upon the written request of the stockholders entitled
to cast not less than a majority of all the votes entitled to be cast on such matter at the meeting and containing the information required by our bylaws. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Advance Notice of Stockholder Proposals and Nominations </B></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Our bylaws establish advance notice procedures with respect to stockholder proposals for business to be conducted at meetings of our stockholders and for
nominations of candidates for election to our board of directors. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Proxy Access </B></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In addition to advance notice procedures, our bylaws include provisions permitting, subject to certain terms and conditions, stockholders who have maintained
continuous qualifying ownership of at least 3% of our outstanding common stock for at least three years to use our annual meeting proxy statement to nominate a number of director candidates not to exceed the greater of two candidates or 20% of the
number of directors in office. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Exclusive Forum </B></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Our
bylaws provide that, unless we consent in writing to the selection of an alternative forum, the sole and exclusive forum for (a)&nbsp;any derivative action or proceeding brought on our behalf, other than any action asserting solely claims arising
under federal securities laws, (b)&nbsp;any claim, action or proceeding asserting a claim based on an alleged breach of any duty owed by any of our directors, officers or other employees to us or to our stockholders, (c)&nbsp;any claim, action or
proceeding asserting a claim against us or any of our directors, officers or other employees arising under or pursuant to any provision of the MGCL, our charter or our bylaws or (d)&nbsp;any other claim, action or proceeding asserting a claim
against us or any of our directors, officers or other employees </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">18 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
that is governed by the internal affairs doctrine shall be, in each case, the Circuit Court for Baltimore City, Maryland, or, if that court does not have jurisdiction, the United States District
Court for the District of Maryland, Northern Division. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Approval for Extraordinary Corporate Action </B></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Under Maryland law, a Maryland corporation generally cannot dissolve, amend its charter, effect certain mergers or consolidations, sell all or substantially
all of its assets, convert into another entity, engage in a share exchange or engage in a similar transaction outside the ordinary course of business unless approved by the affirmative vote of stockholders entitled to cast at least <FONT
STYLE="white-space:nowrap">two-thirds</FONT> of the votes entitled to be cast on the matter. However, a Maryland corporation may provide in its charter for approval of these matters by a lesser percentage, but not less than a majority of all of the
votes entitled to be cast on the matter. Our charter provides for approval of such extraordinary transactions if declared advisable by our board of directors and taken or approved by the affirmative vote of stockholders entitled to cast a majority
of all the votes entitled to be cast on the matter. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Business Combinations </B></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Under the Maryland Business Combination Act (the &#8220;Business Combination Act&#8221;), certain &#8220;business combinations&#8221; between a Maryland
corporation and an interested stockholder or an affiliate of an interested stockholder are prohibited for five years after the most recent date on which the interested stockholder becomes an interested stockholder. These business combinations
include a merger, consolidation, share exchange, and, in circumstances specified in the statute, an asset transfer or issuance or reclassification of equity securities. An interested stockholder is defined as: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">any person (other than the trust or a subsidiary) who beneficially, directly or indirectly, owns 10% or more of
the voting power of the corporation&#8217;s outstanding stock after the date on which the corporation had 100 or more beneficial owners of stock; or </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">an affiliate or associate of the corporation who, at any time within the
<FONT STYLE="white-space:nowrap">two-year</FONT> period before the date in question and after the date on which the corporation had 100 or more beneficial owners of its stock, was the beneficial owner, directly or indirectly, of 10% or more of the
voting power of the corporation&#8217;s then-outstanding voting stock of the corporation. </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">A person is not an interested stockholder
under the Business Combination Act if the board of directors of the corporation approves in advance the transaction by which the person otherwise would have become an interested stockholder. In approving the transaction, the board of directors may
provide that its approval is subject to compliance, at or after the time of approval, with any terms and conditions determined by the board of directors. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">After the five-year prohibition, any business combination between the Maryland corporation and the interested stockholder generally must be recommended by the
board of directors and approved by the affirmative vote of at least: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">80% of the votes entitled to be cast by holders of outstanding voting stock of the corporation; and
</P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><FONT STYLE="white-space:nowrap">two-thirds</FONT> of the votes entitled to be cast by holders of outstanding
voting stock of the board of directors other than voting stock held by the interested stockholder with whom or with whose affiliate the business combination is to be effected or held by an affiliate or associate of the interested stockholder.
</P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">These super-majority vote requirements do not apply if the holders of the corporation&#8217;s common stock receive a minimum price, as
defined under the Business Combination Act, for their shares in the form of cash or other consideration in the same form as previously paid by the interested stockholder for its stock. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">19 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As permitted under Maryland law, our board of directors has elected for us to opt out of the foregoing
provisions on business combinations, provided that such business combination is first approved by our board of directors. However, we cannot assure you that our board of directors will not opt to be subject to such provisions in the future,
including opting to be subject to such provisions retroactively. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Control Share Acquisitions </B></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Maryland Control Share Acquisition Act (the &#8220;MCSAA&#8221;) provides that a holder of control shares of a Maryland corporation acquired in a control
share acquisition has no voting rights with respect to the control shares except to the extent approved by a vote of <FONT STYLE="white-space:nowrap">two-thirds</FONT> of the votes entitled to be cast on the matter. Shares owned by the acquirer, by
officers or by employees who are also directors of the corporation are excluded from shares entitled to vote on the matter. Control shares are voting shares that, if aggregated with all other shares owned by the acquirer or in respect of which the
acquirer is able to exercise or direct the exercise of voting power (except solely by virtue of a revocable proxy), would entitle the acquirer to exercise or direct voting power in electing directors within one of the following ranges of voting
power: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><FONT STYLE="white-space:nowrap">one-tenth</FONT> or more but less than one-third; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><FONT STYLE="white-space:nowrap">one-third</FONT> or more but less than a majority; or </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">a majority or more of all voting power. </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Control shares do not include shares the acquirer is then entitled to vote as a result of having previously obtained shareholder approval or shares acquired
directly from the corporation. A control share acquisition means the acquisition of issued and outstanding control shares, subject to certain exceptions. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">A person who has made or proposes to make a control share acquisition may compel the board of directors to call a special meeting of shareholder to be held
within 50 days of demand to consider the voting rights of the shares. The right to compel the calling of a special meeting is subject to the satisfaction of certain conditions, including an undertaking to pay the expenses of the meeting. If no
request for a meeting is made, the corporation may itself present the question at any stockholders meeting. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If voting rights are not approved at the
meeting or if the acquirer does not deliver an acquiring person statement as required by the statute, then the corporation may, subject to certain limitations and conditions, redeem for fair value any or all of the control shares, except those for
which voting rights have previously been approved. Fair value is determined, without regard to the absence of voting rights for the control shares, as of the date of the last acquisition of control shares by the acquiring person in a control share
acquisition; or, if a meeting of stockholders is held at which the voting rights of the shares are considered and not approved, then as of the date of the meeting. If voting rights for control shares are approved at a stockholders meeting and the
acquirer becomes entitled to exercise or direct the exercise of a majority of the voting power, all other stockholders may exercise appraisal rights. The fair value of the shares as determined for purposes of appraisal rights may not be less than
the highest price per share paid by the acquirer in the control share acquisition. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The MCSAA does not apply (a)&nbsp;to shares acquired in a merger,
consolidation or share exchange if the corporation is a party to the transaction or (b)&nbsp;to acquisitions approved or exempted by the charter or bylaws of the corporation. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Our bylaws contain a provision exempting any acquisition of our shares by any person from the foregoing provisions on control shares. In the event that our
bylaws are amended to modify or eliminate this provision, certain acquisitions of outstanding shares of our common stock may constitute control share acquisitions and may be subject to the MCSAA. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">20 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Unsolicited Takeovers </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Maryland Unsolicited Takeover Act (Title 3, Subtitle 8 of the MGCL) (the &#8220;MUTA&#8221;) permits a Maryland corporation that has a class of equity
securities registered under the Exchange Act and at least three independent directors to elect, by provision in its charter or bylaws or a resolution of its board of directors and without the need for stockholder approval, and notwithstanding any
contrary provision in the charter or bylaws, to be subject to any or all of five provisions, including: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">a classified board of directors; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">a <FONT STYLE="white-space:nowrap">two-thirds</FONT> vote requirement for removing a director;
</P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">a requirement that the number of directors be fixed only by vote of the directors; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">a requirement that a vacancy on the board of directors be filled only by the affirmative vote of a majority of
the remaining directors and for the remainder of the full term of the directorship in which the vacancy occurred and until a successor is elected and qualifies; and </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">a provision that a special meeting of stockholders must be called upon stockholder request only on the written
request of stockholders entitled to cast a majority of the votes entitled to be cast at the meeting. </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The MUTA also permits a Maryland
corporation to &#8220;opt out&#8221; of any or all provisions of the MUTA with express language in its charter or a resolution of its board of directors. Our charter provides that we have opted out of the provisions of MUTA that would allow our
board of directors to unilaterally classify itself unless such election is first approved by the affirmative vote of a majority of the votes cast on the matter by stockholders entitled to vote generally in the election of directors. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We have elected to be subject to the provision of the MUTA relating to the filling of vacancies on our board of directors. Through provisions in our charter
and bylaws unrelated to the MUTA, (1)&nbsp;our board of directors is initially classified, (2)&nbsp;our board of directors has the exclusive power to fix the number of directors and (3)&nbsp;we require the request of stockholders who hold a majority
of the shares of our outstanding common stock to call a special meeting. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Indemnification and Limitation of Directors&#8217; and Officers&#8217;
Liability </B></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Maryland law permits us to include a provision in our charter eliminating the liability of our directors and officers to us and our
stockholders for money damages, except for liability resulting from (a)&nbsp;actual receipt of an improper benefit or profit in money, property or services or (b)&nbsp;active and deliberate dishonesty that is established by a final judgment and is
material to the cause of action. Our charter contains a provision that eliminates our directors&#8217; and officers&#8217; liability to us and our stockholders for money damages to the maximum extent permitted by Maryland law. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The MGCL requires a corporation (unless its charter or bylaws provide otherwise, which our charter does not) to indemnify a director or officer who has been
successful, on the merits or otherwise, in the defense of any proceeding to which he or she is made or threatened to be made a party by reason of his or her service in that capacity and permits a corporation to indemnify its present and former
directors and officers, among others, against judgments, penalties, fines, settlements and reasonable expenses actually incurred by them in connection with any proceeding to or in which they may be made or threatened to be made a party or witness by
reason of their service in those or other capacities unless it is established that: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the act or omission of the director or officer was material to the matter giving rise to the proceeding and
(1)&nbsp;was committed in bad faith or (2)&nbsp;was the result of active and deliberate dishonesty; </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">21 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the director or officer actually received an improper personal benefit in money, property or services; or
</P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">in the case of any criminal proceeding, the director or officer had reasonable cause to believe that the act or
omission was unlawful. </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The MGCL prohibits us from indemnifying a director or officer who has been adjudged liable in a suit by us or on
our behalf or in which the director or officer was adjudged liable on the basis that a personal benefit was improperly received. A court may order indemnification if it determines that the director or officer is fairly and reasonably entitled to
indemnification, even though the director or officer did not meet the prescribed standard of conduct or was adjudged liable on the basis that personal benefit was improperly received; however, indemnification for an adverse judgment in a suit by us
or on our behalf, or for a judgment of liability on the basis that personal benefit was improperly received, is limited to expenses. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In addition, the
MGCL permits a Maryland corporation to advance reasonable expenses to a director or officer upon receipt of (a)&nbsp;a written affirmation by the director or officer of his or her good faith belief that he or she has met the standard of conduct
necessary for indemnification and (b)&nbsp;a written undertaking by him or her or on his or her behalf to repay the amount paid or reimbursed if it is ultimately determined that the standard of conduct was not met. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Our charter obligates us to the maximum extent permitted by Maryland law in effect from time to time, to indemnify and, without requiring a preliminary
determination of the ultimate entitlement to indemnification, pay or reimburse reasonable expenses in advance of final disposition of a proceeding to: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">any present or former director or officer who is made or threatened to be made a party to, or witness in, a
proceeding by reason of his or her service in that capacity; or </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">any individual who, while a director or officer of the Company and at its request, serves or has served as a
director, officer, member, manager, partner or trustee of another corporation, REIT, limited liability company, partnership, joint venture, trust, employee benefit plan or any other enterprise and who is made or threatened to be made a party to, or
witness in, the proceeding by reason of his or her service in that capacity. </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We have entered into indemnification agreements with our
directors and certain officers, which provide for indemnification to the maximum extent permitted by Maryland law. We also maintain a directors&#8217; and officers&#8217; insurance policy that insures our directors and officers from claims arising
out of an alleged wrongful act by such person in their respective capacities as our directors and officers, subject to certain exceptions. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The limitation
of liability and indemnification provisions that are in our charter may discourage stockholders from bringing a lawsuit against directors for failure to fulfill their statutory standard of conduct under Maryland law. These provisions may also have
the effect of reducing the likelihood of derivative litigation against our directors and officers, even though such an action, if successful, might otherwise benefit us and our stockholders. Your investment may be adversely affected to the extent
that, in a class action or direct suit, we pay the costs of settlement and damage awards against directors and officers pursuant to these indemnification provisions. However, these provisions do not limit or eliminate our rights, or those of any
stockholder, to seek <FONT STYLE="white-space:nowrap">non-monetary</FONT> relief such as an injunction or rescission in the event of a director&#8217;s failure to fulfill his or her statutory standard of conduct under Maryland law. The provisions do
not alter the liability of directors under the federal securities laws. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">22 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="tx111323_12"></A>CERTAIN MATERIAL U.S. FEDERAL INCOME TAX CONSIDERATIONS </B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>General </B></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The following discussion describes certain
material U.S. federal income tax considerations relating to the Company&#8217;s treatment as a REIT under the Code, and relating to the acquisition, ownership and disposition of shares of the Company&#8217;s common stock. If the Company offers
equity securities other than common stock (such as preferred stock or depositary shares), or if any selling security holder sells such securities, information about any additional federal income tax consequences to holders of those securities will
be included in the applicable prospectus supplements. Because this is only a summary, it may not contain all of the information that may be important in your specific circumstances. As you review this discussion, you should keep in mind that: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="7%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">The tax considerations to you may vary depending on your particular tax situation; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="7%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Special rules that are not discussed below may apply to you if, for example, you are a <FONT
STYLE="white-space:nowrap">tax-exempt</FONT> organization, a broker-dealer, a trader in securities who elects a <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">mark-to-market</FONT></FONT> method of tax accounting, a <FONT
STYLE="white-space:nowrap">non-U.S.</FONT> person, a trust, an estate, a regulated investment company, a real estate investment trust, a controlled foreign corporation, a U.S. expatriate or former long-term resident, a person subject to the
alternative minimum tax, a bank or other financial institution, an insurance company, you have a functional currency other than the U.S. dollar, you will hold our common stock as a position in a straddle, as part of a synthetic security or hedge, or
as part of a conversion transaction or other integrated investment, or otherwise subject to special tax treatment under the Code; </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="7%" VALIGN="top" ALIGN="left">(3)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">This summary does not address state, local or <FONT STYLE="white-space:nowrap">non-U.S.</FONT> tax
considerations; </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="7%" VALIGN="top" ALIGN="left">(4)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">This summary deals only with persons who hold shares of the Company&#8217;s common stock as &#8220;capital
assets&#8221; within the meaning of Section&nbsp;1221 of the Code; and </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="7%" VALIGN="top" ALIGN="left">(5)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">This discussion is not intended to be, and should not be construed as, tax advice. </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">You are urged both to review the following discussion and to consult with an independent tax advisor to determine the effect of acquiring, owning and
disposing of shares of the Company&#8217;s common stock in your individual tax situation, including any state, local or <FONT STYLE="white-space:nowrap">non-U.S.</FONT> tax consequences. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The information in this section is based on the Code, final, temporary and proposed regulations promulgated by the U.S. Treasury Department, the legislative
history of the Code, current administrative interpretations and practices of the IRS, and judicial decisions. The reference to IRS interpretations and practices includes IRS practices and policies reflected in private letter rulings, which are not
binding on the IRS except with respect to the taxpayer that received the ruling. In each case, these sources are relied on as they exist on the date of this prospectus. Future legislation, regulations, administrative interpretations and judicial
decisions could change current law or adversely affect existing interpretations of current law. Any change could apply retroactively. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Tax Reform
Legislation </B></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Tax reform legislation commonly known as the Tax Cuts and Jobs Act, or TCJA, which generally took effect for taxable years beginning on or
after January&nbsp;1, 2018 (subject to certain exceptions), made many changes to the U.S. federal income tax laws that significantly impacted the taxation of individuals, corporations (both regular C corporations as well as corporations that have
elected to be taxed as REITs), and the taxation of taxpayers with overseas assets and operations. Many of the TCJA&#8217;s changes were made permanent by legislation commonly known as the &#8220;One Big Beautiful Bill Act&#8221;
(&#8220;OBBBA&#8221;), which was signed into law on July&nbsp;4, 2025. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">23 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Taxation of the Company </I></B></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company elected to be taxable as a REIT commencing with its initial taxable year ending December&nbsp;31, 2024. The Company has received the opinion of
King&nbsp;&amp; Spalding LLP that, commencing with such taxable year, the Company has been organized and has operated in conformity with the requirements for qualification and taxation as a REIT under the Code, and its current organization and
method of operation will enable it to continue to meet the requirements for qualification and taxation as a REIT. It must be emphasized that the opinion of King&nbsp;&amp; Spalding LLP is based on various assumptions relating to the organization and
operation of the Company. It is also conditioned upon factual representations and covenants made by the Company regarding its organization, assets and the past, present and future conduct of its business operations. While the Company intends to
operate so that it will qualify as a REIT, given the highly complex nature of the rules governing REITs, the ongoing importance of factual determinations, and the possibility of future changes in the Company&#8217;s circumstances, no assurance can
be given by King&nbsp;&amp; Spalding LLP or by the Company that it will so qualify for any particular future year. King&nbsp;&amp; Spalding LLP has no obligation to advise the Company or the holders of the Company&#8217;s common stock of any
subsequent change in the matters stated, represented or assumed in the opinion, or of any subsequent change in the applicable law. You should be aware that opinions of counsel are not binding on the IRS or any court, and no assurance can be given
that the IRS will not successfully challenge the conclusions set forth in such opinion. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If the Company qualifies for taxation as a REIT, it generally
will not be subject to federal corporate income taxes on that portion of its ordinary income or capital gain that it distributes currently to its stockholders, because the REIT provisions of the Code generally allow a REIT to deduct dividends paid
to its stockholders. This substantially eliminates the federal &#8220;double taxation&#8221; on earnings (taxation at both the corporate level and stockholder level) that usually results from an investment in a
<FONT STYLE="white-space:nowrap">non-REIT</FONT> &#8220;C&#8221; corporation. However, stockholders who are taxed at individual rates generally are taxed on dividends they receive from <FONT STYLE="white-space:nowrap">non-REIT</FONT> &#8220;C&#8221;
corporations at capital gains rates, whereas REIT dividends that are not designated as capital gain dividends are taxed at the higher ordinary income rates. In addition, stockholders who are taxed at the regular corporate rate will receive the
benefit of a dividends received deduction on dividends from <FONT STYLE="white-space:nowrap">non-REIT</FONT> &#8220;C&#8221; corporations that substantially reduces the effective rate that they pay on such dividends, whereas no such deduction is
allowable with respect to REIT dividends. Still, income earned by a REIT and distributed currently to its stockholders generally will be subject to lower aggregate rates of federal income taxation than if such were earned by a <FONT
STYLE="white-space:nowrap">non-REIT</FONT> &#8220;C&#8221; corporation, subjected to corporate income tax, and then distributed to stockholders and subjected to tax either at capital gains rates or the effective rate paid by a corporate recipient
entitled to the benefit of the dividends received deduction. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Even if the Company qualifies for taxation as a REIT, it will be subject to federal income
taxation as follows: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">The Company will be taxed at the regular corporate rate (currently 21%) on any undistributed REIT taxable income,
including net capital gain that is not distributed to shareholders during, or within a specified time after, the calendar year in which the income is earned. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">If the Company has (a)&nbsp;net income from the sale or other disposition of &#8220;foreclosure property&#8221;
that is held primarily for sale to customers in the ordinary course of business or (b)&nbsp;other <FONT STYLE="white-space:nowrap">non-qualifying</FONT> income from foreclosure property, the Company will be subject to tax at the corporate tax rate
on such income. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">The Company&#8217;s net income from &#8220;prohibited transactions&#8221; will be subject to a 100% penalty tax.
In general, prohibited transactions are sales or other dispositions of property (other than foreclosure property) held as inventory or otherwise primarily for sale to customers in the ordinary course of business. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">If the Company fails to satisfy either the 75% gross income test or the 95% gross income test discussed below,
but nonetheless maintains qualification as a REIT because other requirements are met, the </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">24 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="9%">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">
Company will be subject to a tax equal to the gross income attributable to (1)&nbsp;the greater of either (a)&nbsp;the amount by which 75% of its gross income exceeds the amount qualifying under
the 75% gross income test for the taxable year or (b)&nbsp;the amount by which 95% of its gross income exceeds the amount of its income qualifying for the 95% gross income test for the taxable year, multiplied in either case by (2)&nbsp;a fraction
intended to reflect the Company&#8217;s profitability. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">The Company will be subject to a 4% nondeductible excise tax on the excess of the required distribution for the
calendar year (as described below) over the sum of amounts actually distributed in such calendar year, excess distributions from the preceding calendar year, and undistributed income on which the Company paid federal income tax. The required
distribution for each calendar year is equal to the sum of: </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">85% of the Company&#8217;s REIT ordinary income for the year, </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">95% of the Company&#8217;s REIT capital gain net income for such year, and </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">any undistributed taxable income from prior taxable years. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">The Company will be subject to a 100% penalty tax on some payments received from tenants or from the
Company&#8217;s taxable REIT subsidiaries, on certain expenses deducted by the Company&#8217;s taxable REIT subsidiaries, and on certain services provided to the Company by its taxable REIT subsidiaries, if arrangements involving the Company&#8217;s
taxable REIT subsidiaries are not comparable to similar arrangements among unrelated parties. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">If the Company acquires any assets from a regular &#8220;C&#8221; corporation in a transaction in which the basis
of the assets in the Company&#8217;s hands is determined by reference to the basis of the assets (or any other property) in the hands of the &#8220;C&#8221; corporation, the Company would have to pay corporate income tax, at the applicable corporate
tax rate, on the <FONT STYLE="white-space:nowrap">&#8220;built-in</FONT> gain&#8221; with respect to those assets if the Company were to dispose of those assets within five years after acquiring them. <FONT STYLE="white-space:nowrap">Built-in</FONT>
gain is the amount by which an asset&#8217;s fair market value exceeds its adjusted tax basis at the time the Company acquires the asset. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">If the Company fails to satisfy one of the REIT asset tests (other than certain de minimis failures), but
nonetheless maintains its qualification as a REIT because other requirements are met, the Company will be subject to a tax equal to the greater of $50,000 or the amount determined by multiplying the net income generated by the <FONT
STYLE="white-space:nowrap">non-qualifying</FONT> assets during the period of time that the Company held the assets as <FONT STYLE="white-space:nowrap">non-qualifying</FONT> assets by the highest rate of tax applicable to corporations.
</P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">If the Company fails to satisfy certain of the REIT qualification requirements under the Code (other than the
gross income and asset tests), and the failure is due to reasonable cause and not willful neglect, the Company may be required to pay a penalty of $50,000 for each such failure. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">If the Company fails to comply with the requirements to send annual letters to certain shareholders requesting
information regarding the actual ownership of the Company&#8217;s outstanding stock and the failure was not due to reasonable cause or was due to willful neglect, the Company will be subject to a $25,000 penalty or, if the failure is intentional, a
$50,000 penalty. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">If the Company elects to retain and pay federal income tax on its net long-term capital gain, in which case a
stockholder would include in its proportionate share of the Company&#8217;s undistributed long-term capital gain in its income, would be allowed a credit for its proportionate share of the tax it is deemed to have paid, and an adjustment would be
made to increase the stockholder&#8217;s basis in the Company&#8217;s common stock. </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In addition, notwithstanding the Company&#8217;s
status as a REIT, the Company also may have to pay certain state and local income taxes, because not all state and local jurisdictions treat REITs the same as they are treated for </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">25 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
federal income tax purposes. Moreover, the Company&#8217;s taxable REIT subsidiary (as further described below) is subject to federal, state and local corporate income taxes on its net income.
</P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Relief Provisions </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Code provides relief
from violations of the REIT qualification requirements in certain circumstances which, if available, would allow the Company to continue to be taxable as a REIT. For example, relief may be available for a violation of the REIT gross income
requirements, as described below under &#8220;Operational Requirements&#8212;Gross Income Tests,&#8221; in cases where a violation is due to reasonable cause and not willful neglect, and other requirements are met, including the payment of a penalty
tax that is based upon the magnitude of the violation. In addition, the Code includes provisions that extend similar relief in the case of certain violations of the REIT asset requirements (see &#8220;Operational Requirements&#8212;Asset
Tests&#8221; below) and other REIT requirements, again provided that the violation is due to reasonable cause and not willful neglect, and other conditions are met, including the payment of penalty tax. If the Company fails to satisfy any of the
various REIT requirements, there can be no assurance that these relief provisions would be available to enable the Company to maintain its qualification as a REIT. Even if these relief provisions are available to the Company, the amount of any
resultant penalty tax could be substantial and impair its ability to maintain operations or make distributions to the Company&#8217;s stockholders. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Requirements for Qualification as a REIT </B></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In order for
the Company to qualify as a REIT, it must meet and continue to meet the requirements discussed below relating to its organization, sources of income, nature of assets and distributions of income to its stockholders. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Organizational Requirements </I></B></P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In order to qualify
for taxation as a REIT under the Code, the Company must meet tests regarding its income and assets described below. The Code defines a REIT as a corporation, trust or association: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">that is managed by one or more trustees or directors; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">the beneficial ownership of which is evidenced by transferable shares, or by transferable certificates of
beneficial interest; </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(3)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">that would be taxable as a domestic corporation, but for the REIT rules set forth in Sections 856 through 859
of the Code; </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(4)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">that is neither a financial institution nor an insurance company subject to certain provisions of the Code;
</P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(5)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">the beneficial ownership of which is held by 100 or more persons; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(6)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">not more than 50% in value of the outstanding shares of which is owned, actually or constructively, by or for
five or fewer individuals (as defined in the Code to include certain entities); </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(7)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">that makes an election to be a REIT (or has made such election for a previous taxable year which has not been
revoked or terminated) and satisfies all relevant filing and other administrative requirements that must be met in order to elect and maintain REIT status; </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(8)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">that uses a calendar year for federal income tax purposes; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(9)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">that does not have at the end of any taxable year any undistributed earnings and profits that were accumulated
in any taxable year to which the provisions of Sections 856 through 859 did not apply; </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">26 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(10)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">that meets certain other tests, described below, regarding the nature of its income and assets and the amount
of its distributions to shareholders; and </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(11)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">that has not been a party to certain <FONT STYLE="white-space:nowrap">tax-deferred</FONT> <FONT
STYLE="white-space:nowrap">spin-off</FONT> transactions. </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Code provides that conditions (1), (2), (3) and (4)&nbsp;above must be met
during the entire taxable year, that condition (5)&nbsp;above must be met during at least 335 days of a taxable year of 12 months, or during a proportionate part of a shorter taxable year, and that condition (6)&nbsp;must be met during the last half
of each taxable year. For purposes of determining stock ownership under condition (6)&nbsp;above, a supplemental unemployment compensation benefits plan, a private foundation or a portion of a trust permanently set aside or used exclusively for
charitable purposes generally is treated as an individual. A pension trust that is qualified under Section&nbsp;401(a) of the Code, however, generally is not considered an individual, and beneficiaries of such trust are treated as holding shares of
a REIT in proportion to their actuarial interests in such trust for purposes of condition (6)&nbsp;above. Finally, the Company will be treated as having met condition (6)&nbsp;above if the Company complies with certain Treasury Regulations for
ascertaining the ownership of its outstanding stock and if the Company did not know (or after the exercise of reasonable diligence would not have known) that its stock was sufficiently closely held during such year to cause the Company to fail
condition (6). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company believes that it has been organized, has operated and has issued sufficient shares of beneficial ownership with sufficient
diversity of ownership to allow the Company to satisfy each of the above conditions. In addition, the Company&#8217;s organizational documents contain restrictions regarding the transfer and ownership of stock that are intended to assist the Company
in continuing to satisfy conditions (5)&nbsp;and (6) above but without causing the Company to violate the freely transferable shares requirement described in condition (2)&nbsp;above. See &#8220;Description of Curbline Properties Corp. Capital
Stock&#8212;Restrictions on Ownership and Transfer&#8221; for additional information. These restrictions, however, may not ensure that we will be able to satisfy the share ownership requirements in all cases. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Qualified REIT Subsidiaries </I></B></P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For purposes of the
requirements described herein, any corporation the Company owns that is a qualified REIT subsidiary will not be treated as a corporation separate from the Company and all of its assets, liabilities, and items of income, deduction and credit will be
treated as the Company&#8217;s assets, liabilities and items of income, deduction and credit. A qualified REIT subsidiary is a corporation, other than a taxable REIT subsidiary (as described below under &#8220;Operational Requirements&#8212;Asset
Tests&#8221;), all of the capital stock of which is owned by a REIT. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Interests in Partnerships </I></B></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In the case of a REIT that is a partner in an entity or arrangement treated as a partnership for federal tax purposes, the REIT is treated as owning its
proportionate share of the assets of the partnership and as earning its allocable share of the gross income of the partnership for purposes of the requirements described herein. In addition, the character of the assets and gross income of the
partnership will retain the same character in the hands of the REIT for purposes of the REIT requirements, including the asset and income tests described below. As a result, the Company&#8217;s proportionate share of the assets, liabilities and
items of income of the Operating Partnership and of any other partnership, joint venture, limited liability company or other entity treated as a partnership for federal tax purposes in which it directly or indirectly through the Operating
Partnership or disregarded entities owns an interest, will be treated as the Company&#8217;s assets, liabilities and items of income. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For partnership
taxable years beginning after December&nbsp;31, 2017, liability is imposed on a partnership (rather than its partners) for adjustments to reported partnership taxable income resulting from audits or other tax proceedings. The liability can include
an imputed underpayment of tax, calculated by using the highest marginal U.S. federal income tax rate, as well as interest and penalties on such imputed underpayment of tax. Using certain rules, partnerships may be able to transfer these liabilities
to their partners. In the event any adjustments </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">27 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
are imposed by the IRS on the taxable income reported by the Operating Partnership or any of our subsidiary partnerships, we intend to utilize the audit rules to the extent possible to allow us
to transfer any liability with respect to such adjustments to the partners of the Operating Partnership or the partners of any subsidiary partnership who should properly bear such liability. However, there is no assurance that we will qualify under
those rules or that we will have the authority to use those rules under the operating agreements for certain of our subsidiary partnerships. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Taxable REIT Subsidiaries </I></B></P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">A REIT is also
permitted to own up to 100% of the stock of one or more &#8220;taxable REIT subsidiaries.&#8221; The subsidiary and the REIT must jointly elect to treat the subsidiary as a taxable REIT subsidiary. In addition, if a taxable REIT subsidiary owns,
directly or indirectly, securities representing 35% or more of the vote or value of a subsidiary corporation, that subsidiary will automatically be treated as a taxable REIT subsidiary of the parent REIT. A taxable REIT subsidiary is subject to
federal, state and local income tax as a regular &#8220;C&#8221; corporation. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Generally, a taxable REIT subsidiary may earn income that would not be
qualifying income under the REIT income tests if earned directly by the parent REIT. Several provisions in the Code regarding the arrangements between a REIT and its taxable REIT subsidiary ensure, however, that the taxable REIT subsidiary will be
subject to an appropriate level of federal income tax. For example, the Code limits the ability of a taxable REIT subsidiary to deduct interest payments made to its parent REIT in excess of a certain amount. In addition, the Code imposes a 100% tax
on transactions between a taxable REIT subsidiary and its parent REIT or the REIT&#8217;s tenants that are not conducted on an <FONT STYLE="white-space:nowrap">arm&#8217;s-length</FONT> basis. Moreover, the total value of any securities held by a
REIT in all of its taxable REIT subsidiaries cannot exceed 20% (25% for taxable years beginning after December&nbsp;31, 2025) of the REIT&#8217;s total asset value. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Under amendments made by TCJA to Section&nbsp;172 of the Code, to the extent one or more of the Company&#8217;s taxable REIT subsidiaries have net operating
loss carryforwards arising from losses sustained in taxable years beginning after December&nbsp;31, 2017, the deduction for such carryforwards is limited to 80% of the taxable REIT subsidiary&#8217;s taxable income, and any unused portion of losses
arising in taxable years ending after December&nbsp;31, 2017 may not be carried back, but may be carried forward indefinitely. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Operational
Requirements&#8212;Gross Income Tests </I></B></P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">To maintain qualification as a REIT, the Company must satisfy annually two gross income requirements. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">At least 75% of gross income for each taxable year must be derived directly or indirectly from certain sources
including &#8220;rents from real property,&#8221; certain interests from mortgages on real property, gains from the sale of real property or mortgages on real property and from other specified sources, including qualified temporary investment
income, as described below. This is referred to as the 75% Income Test. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">At least 95% of gross income for each taxable year must be derived from certain sources, including the sources of
income that may be received for purposes of the 75% income tests, dividends, interest, gains from the sale or disposition of stock or securities and other specified sources. This is referred to as the 95% Income Test. </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For purposes of both the 75% and 95% gross income tests, gross income excludes gross income from (i)&nbsp;dispositions of property held primarily for sale to
customers in the ordinary course of a trade or business, (ii)&nbsp;certain foreign currency income and (iii)&nbsp;income and gain from certain hedging transactions. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The rents the Company will receive or be deemed to receive will qualify as &#8220;rents from real property&#8221; for purposes of satisfying the gross income
requirements for a REIT if the following conditions are satisfied: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">The amount of rent received from a tenant must not be based in whole or in part on the income or profits of any
person; however, an amount received or accrued generally will not be excluded from the term </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">28 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="9%">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">
&#8220;rents from real property&#8221; solely by reason of being based on a fixed percentage or percentages of gross receipts or sales; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">In general, neither the REIT, nor a direct or constructive owner of 10% or more of the REIT&#8217;s stock, may
directly or constructively own 10% or more of the ownership interests in a tenant, or a subtenant of the tenant (in which case only rent attributable to the subtenant is disqualified); </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">If rent attributable to personal property leased in connection with a lease of real property is greater than 15%
of the total rent received under the lease, as determined based on the average of the fair market values as of the beginning and end of the taxable year, the portion of the rent attributable to personal property will not qualify as &#8220;rents from
real property&#8221;; and </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">A REIT may operate or manage its properties or provide services with respect to its properties, and the income
derived therefrom will qualify as &#8220;rents from real property,&#8221; if the services are &#8220;usually or customarily rendered&#8221; in connection with the rental of space only and are not otherwise considered &#8220;rendered to the
occupant.&#8221; Customary services that are not provided to a particular tenant (e.g., furnishing heat and light, the cleaning of public entrances and the collection of trash) can be provided directly by the REIT. If the services provided by the
Company with respect to a property are noncustomary, the income attributable to such services will constitute &#8220;impermissible tenant service income&#8221; which is nonqualifying gross income for purposes of the 95% and 75% Income Tests. In
addition, if such income exceeds one percent of all amounts received or accrued with respect to that property (the &#8220;1% De Minimis Test&#8221;), then all of the amounts received from the tenants of that property, including their rent payments,
will fail to qualify as &#8220;rents from real property.&#8221; For purposes of the 1% De Minimis Test, the value of the noncustomary services is deemed to be not less than (but could be more than) 150% of the Company&#8217;s direct costs of
providing the noncustomary services. </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Noncustomary services do not create impermissible tenant service income if they
are provided through a taxable REIT subsidiary or by an independent contractor from whom the Company does not derive any income, who is adequately compensated for such service, who retains a separate charge from the tenants with respect to the
services it provides to them, and who is not related to the Company under certain relationship tests. Services that are customarily offered by comparable properties in the relevant market but which are considered to be rendered &#8220;to the
occupant&#8221; may be provided through an independent contractor retained by the REIT, even though the contractor does not receive a separate charge from the tenant. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company believes that the bulk of its income qualifies under the 75% Income Test and the 95% Income Test as rents from real property in accordance with
the requirements described above. In this regard, the Company believes that most of its leases are for fixed rentals with annual &#8220;consumer price index&#8221; or similar adjustments and that none of the rentals under the leases will be based on
the net income or net profits of any person, although certain rentals under leases with retail tenants may be based on the gross sales of such retail tenant. In addition, none of the Company&#8217;s tenants are believed to be related-party tenants.
The Company believes that the rent attributable to personal property does not exceed 15% of the total rent received under any lease. The Company also believes that all or most of the services to be performed with respect to its properties are those
usually or customarily rendered in connection with the rental of real property and not rendered to the occupant(s) of such property. The Company anticipates that in most cases any <FONT STYLE="white-space:nowrap">non-customary</FONT> services that
would create nonqualifying gross income in excess of the 1% De Minimis Test amount for any property are or will be provided by a taxable REIT subsidiary or, alternatively, by an independent contractor that is adequately compensated, from whom the
REIT derives no income and who retains a separate charge from the tenants for services it performs to them. The Company does not believe the amounts of <FONT STYLE="white-space:nowrap">non-qualifying</FONT> income generated by it or its operating
subsidiaries is or will be of a magnitude large enough to cause the Company to fail any of the income tests required for qualification as a REIT. The Company can give no assurance, however, that the actual future sources of its gross income will
allow the Company to satisfy the 75% Income Test and the 95% Income Test described above. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">29 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Notwithstanding the failure to satisfy one or both of the 75% Income and the 95% Income Tests for any
taxable year, an entity may still qualify as a REIT for that year if the entity is eligible for relief under specific provisions of the Code. These relief provisions generally will be available if: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the failure to meet these tests was due to reasonable cause and not due to willful neglect; and
</P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">following the identification of the failure to meet the 75% Income Test or 95% Income Test for any taxable year,
the REIT files a schedule with the IRS setting forth each item of its gross income for purposes of such tests for such taxable year in accordance with Treasury Regulations. </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">It is not possible, however, to state whether, in all circumstances, the Company would be entitled to the benefit of these relief provisions. For example, if
the Company fails to satisfy the gross income tests because nonqualifying income that it intentionally accrues or receives exceeds the limits on nonqualifying income, the IRS could conclude that the Company&#8217;s failure to satisfy the tests was
not due to reasonable cause. In addition, as discussed above in &#8220;&#8212;General&#8212;Taxation of the Company,&#8221; even if these relief provisions apply, a tax would be imposed on the net income attributable to the amount by which the
Company fails to satisfy the applicable gross income test. The Company may not always be able to comply with the gross income tests for REIT qualification despite periodic monitoring of its income. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Operational Requirements&#8212;Asset Tests </I></B></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">At the
close of each quarter of the Company&#8217;s taxable year, a REIT also must satisfy a number of tests, referred to here as the Asset Tests, relating to the nature and diversification of the REIT&#8217;s assets. For purposes of the Asset Tests, a
REIT is not treated as owning the stock of a qualified REIT subsidiary or an equity interest in any entity treated as a partnership or otherwise disregarded for U.S. federal income tax purposes. Instead, a REIT is treated as owning all of the assets
of a qualified REIT subsidiary or disregarded entity and its proportionate share of the assets held by any entity treated as a partnership for federal income tax purposes. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">First, at least 75% of the value of a REIT&#8217;s total assets must be represented by real estate assets, cash,
cash items and government securities. The term &#8220;real estate assets&#8221; includes real property, mortgages on real property, shares in other qualified REITs, property attributable to the temporary investment of new capital and a proportionate
share of any real estate assets owned by a partnership in which the REIT is a partner or of any qualified REIT subsidiary of the REIT. Real estate assets include debt instruments of publicly offered REITs and certain personal property that is leased
in connection with real property. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Second, no more than 25% of the REIT&#8217;s total assets may be represented by securities other than those in
the 75% asset class. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Third, of the investments included in the 25% asset class, subject to certain exceptions, the value of any one
issuer&#8217;s securities that a REIT owns may not exceed 5% of the value of the REIT&#8217;s total assets. Additionally, a REIT may not own more than 10% of the voting power or value of any one issuer&#8217;s outstanding securities. The 5% and 10%
Asset Tests do not apply to securities of a taxable REIT subsidiary. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Fourth, no more than 20% (25% for taxable years beginning after December&nbsp;31, 2025) of the value of a
REIT&#8217;s total assets may consist of the securities of one or more taxable REIT subsidiaries. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Fifth, not more than 25% of the value of a REIT&#8217;s total assets may consist of debt instruments issued by
publicly offered REITs to the extent not secured by real property or interests in real property. </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company must satisfy the Asset
Tests at the close of each calendar quarter. A REIT will not lose REIT status for a failure to satisfy the Asset Tests at the end of a later quarter in which the REIT has not acquired any </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">30 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
securities or other property if such failure occurs solely because of changes in asset values. If a REIT&#8217;s failure to satisfy the Asset Tests results from an acquisition of securities or
other property during a quarter, the REIT must cure the Asset Test failure within 30 days after the close of that quarter. The Company intends to maintain adequate records of the value of its assets and the assets of any subsidiary REIT to ensure
compliance with the Asset Tests and to take such other action within 30 days after the close of any quarter as may be required to cure any noncompliance. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Code also provides that certain securities will not cause a violation of the 10% value test described above. Such securities include instruments that
constitute &#8220;straight debt,&#8221; which generally means debt that is not subject to contingencies (subject to certain exceptions) and is not convertible to equity. A security will not, however, qualify as &#8220;straight debt&#8221; where a
REIT (or a controlled taxable REIT subsidiary of the REIT) owns other securities of the issuer that do not qualify as straight debt, unless the value of those other securities constitute, in the aggregate, 1% or less of the total value of that
issuer&#8217;s outstanding securities. In addition to straight debt, the Code provides that certain other securities will not violate the 10% value test. Such securities include (a)&nbsp;any loan made to an individual or an estate, (b)&nbsp;certain
rental agreements in which one or more payments are to be made in subsequent years (other than agreements between a REIT and certain persons related to the REIT), (c) any obligation to pay rents from real property, (d)&nbsp;securities issued by
governmental entities that are not dependent in whole or in part on the profits of (or payments made by) a <FONT STYLE="white-space:nowrap">non-governmental</FONT> entity, (e)&nbsp;any security issued by another REIT, and (f)&nbsp;any debt
instrument issued by a partnership if the partnership&#8217;s income is of a nature that would qualify to satisfy the 75% Income Test described above under &#8220;Requirements for Qualification as a REIT&#8212;Operational Requirements&#8212;Gross
Income Tests.&#8221; The Code provides that in applying the 10% value test, a debt security issued by a partnership is not taken into account to the extent, if any, of the REIT&#8217;s proportionate equity interest in that partnership. There are
special look-through rules for determining a REIT&#8217;s share of securities held by a partnership in which the REIT holds an interest. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Code also
contains a number of provisions applicable to REITs, including relief provisions, that make it easier for REITs to satisfy the Asset Tests, or to maintain REIT qualification, notwithstanding certain violations of the Asset Tests, or certain other
requirements. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">One such provision applies to &#8220;de minimis&#8221; violations of the 10% and 5% asset tests described above. A REIT may maintain its
qualification despite a violation of such requirements if (a)&nbsp;the value of the assets causing the violation does not exceed the lesser of 1% of the REIT&#8217;s total assets and $10,000,000, and (b)&nbsp;the REIT either disposes of the assets
causing the failure within six months after the last day of the quarter in which it identifies the failure, or the relevant tests are otherwise satisfied within that timeframe. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">A second relief provision allows a REIT which fails one or more of the asset requirements, and is ineligible for relief under the de minimis rule, to
nevertheless maintain its REIT qualification if (a)&nbsp;it provides the IRS with a description of each asset causing the failure, (b)&nbsp;the failure is due to reasonable cause and not willful neglect, (c)&nbsp;the REIT pays a tax equal to the
greater of (i) $50,000 per failure, and (ii)&nbsp;the product of the net income generated by the assets that caused the failure multiplied by the applicable corporate tax rate (currently 21%) and (d)&nbsp;the REIT either disposes of the assets
causing the failure within six months after the last day of the quarter in which it identifies the failure, or otherwise satisfies the relevant asset tests within that time-frame. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company believes that the value of securities it owns in any issuer which is not a REIT, qualified REIT subsidiary, taxable REIT subsidiary or
partnership, including debt securities, does not exceed 5% of the total value of its assets and that the Company complies also with the 10% voting securities limitation and 10% value limitation with respect to each issuer of the securities the
Company owns. The Company can provide no assurance, however, that the IRS will agree with its determination in this regard and, to the extent that the Company fails one or more of the Asset Tests, if it does not fall within the safe harbors
described above, it may fail to qualify as a REIT. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">31 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Operational Requirements&#8212;Annual Distribution Requirement </I></B></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In order to be taxed as a REIT, the REIT is required to make distributions, other than capital gain distributions, to its stockholders each year in the amount
of at least equal to the sum of (A) (1) 90% of its adjusted REIT taxable income (computed without regard to the dividends-paid deduction and its net capital gain, and subject to certain other potential adjustments), and (2) 90% of the REIT&#8217;s
net income, if any, (after tax) from foreclosure property, minus (B)&nbsp;the sum of specified items of <FONT STYLE="white-space:nowrap">non-cash</FONT> income for all tax years. While a REIT must generally pay distributions in the taxable year to
which they relate, it may also pay distributions in the following taxable year if (A)&nbsp;they are declared in October, November, or December with a record date in these months and the REIT pays the dividends on or before January&nbsp;31 of the
following year; or (B)&nbsp;(1) they are declared before the REIT timely files its federal income tax return for the taxable year in question, and (2)&nbsp;they are paid on or before the first regular distribution payment date after the declaration.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Even if the Company satisfies the foregoing distribution requirement and, accordingly, continue to qualify as a REIT for tax purposes, the Company will
still be subject to federal income tax on the excess of its net capital gain and its adjusted REIT taxable income over the amount of distributions to stockholders. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In addition, if the Company fails to distribute during each calendar year at least the sum of: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">85% of its ordinary income for that year; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">95% of its capital gain net income other than the capital gain net income which the Company elects to retain and
pay tax on for that year; and </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">any undistributed taxable income from prior periods, </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">the Company will be subject to a 4% nondeductible excise tax on the excess of the amount of the required distributions over the sum of (A)&nbsp;the amounts
actually distributed plus (B)&nbsp;retained amounts on which corporate level tax is paid by the Company. For this purpose, distributions declared in October, November, or December with a record date in these months and paid on or before
January&nbsp;31 of the following year will be treated as distributed in the prior year in the year declared. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company intends to make timely
distributions sufficient to satisfy this requirement; however, it is possible that there may be timing differences between (1)&nbsp;the actual receipt of income and payment of deductible expenses, and (2)&nbsp;the inclusion of that income and
deduction of those expenses for purposes of computing the REIT&#8217;s taxable income. Further, under amendments to Section&nbsp;451 of the Code made by TCJA, subject to certain exceptions, the Company must accrue income for U.S. federal income tax
purposes no later than when such income is taken into account as revenue in its financial statements, which could create additional differences between REIT taxable income and the receipt of cash attributable to such income. In addition,
Section&nbsp;162(m) of the Code places a <FONT STYLE="white-space:nowrap">per-employee</FONT> limit of $1&nbsp;million on the amount of compensation that a publicly held corporation may deduct in any one year with respect to its chief executive
officer, chief financial officer, and certain other highly-compensated executive officers. Changes to Section&nbsp;162(m) made by TCJA and effective for taxable years following December&nbsp;31, 2017, which include the elimination of an exception
that formerly permitted certain performance-based compensation to be deducted even if in excess of $1&nbsp;million and the expansion of the group of covered employees to which the limit applies, which may have the effect of increasing the
Company&#8217;s REIT taxable income. Amendments to Section&nbsp;162(m) included in the OBBBA broaden the scope of employees to which the limit applies in the case of publicly held corporations (including publicly held REITs) publicly held
corporations (including publicly held REITs), with the first of such amendments taking effect in taxable years beginning after December&nbsp;31, 2025. It is also possible that the Company may be allocated a share of net capital gain attributable to
the sale of depreciated property that exceeds the Company&#8217;s allocable share of cash attributable to that sale. In those circumstances, the REIT may have less cash than is necessary to meet its annual distribution requirement or to avoid income
or excise taxation on undistributed income. The Company </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">32 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
may find it necessary in those circumstances to arrange for financing or raise funds through the issuance of additional shares in order to meet the distribution requirements to which it is
subject. If the Company fails to satisfy the distribution requirement for any taxable year by reason of a later adjustment to taxable income made by the IRS or in some other circumstances, the Company may be able to pay &#8220;deficiency
dividends&#8221; in a later year and include such distributions in its deductions for dividends paid for the earlier year. In that event, the REIT may be able to avoid losing REIT status or being taxed on amounts distributed as deficiency dividends,
but the Company would be required to pay an interest charge to the IRS based upon the amount of any deduction taken for deficiency dividends for the earlier year. The Code also requires a REIT which has current or accumulated earnings and profits
from <FONT STYLE="white-space:nowrap">non-REIT</FONT> years of operation to distribute an amount equal to those earnings and profits prior to the end of its taxable year. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">A further requirement for satisfaction of the annual distribution requirement is that the Company&#8217;s distributions must be structured so that it is
entitled to a deduction for such distributions. Generally speaking, to be deductible the amount distributed by a REIT must not be preferential&#8212;<I>i.e.</I>, every shareholder of the class of shares to which a distribution is made must be
treated the same as every other shareholder of that class, and no class of shares may be treated otherwise than according to its dividend rights as a class. However, effective for distributions made in tax years after December&nbsp;31, 2014, this
rule no longer applies to publicly offered REITs. The IRS has issued a private letter ruling, which may not be relied upon as precedent, that a subsidiary REIT may be treated as a publicly offered REIT for these purposes. Accordingly, as we believe
that the Company is publicly offered, the preferential dividend rule should no longer apply to its distributions. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">To the extent that in the future that
the Company may have available net operating losses carried forward from prior tax years, such losses may reduce the amount of distributions that the Company must make in order to comply with the REIT distribution requirements. Such losses, however,
will generally not affect the tax treatment to the Company&#8217;s shareholders of any distributions that are actually made. Under amendments made by TCJA to Section&nbsp;172 of the Code, the Company&#8217;s deduction for any net operating loss
carryforwards arising from losses we sustain in taxable years beginning after December&nbsp;31, 2017 is limited to 80% of the Company&#8217;s REIT taxable income (determined without regard to the deduction for dividends paid), and any unused portion
of losses arising in taxable years ending after December&nbsp;31, 2017 may not be carried back, but may be carried forward indefinitely. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As noted above,
the Company may also elect to retain, rather than distribute, its net long-term capital gains. The effect of such an election would be as follows: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the Company would be required to pay the federal income tax on these gains; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">taxable U.S. stockholders, while required to include their proportionate share of the undistributed long-term
capital gains in income, would receive a credit or refund for their share of the tax paid by the REIT; and </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the basis of the stockholder&#8217;s shares would be increased by the difference between the designated amount
included in the stockholder&#8217;s long-term capital gains and the tax deemed paid with respect to such shares. </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In computing its
adjusted REIT taxable income, the Company uses the accrual method of accounting and depreciates depreciable property under the alternative depreciation system. The Company is required to file an annual U.S. federal income tax return, which, like
other corporate returns, is subject to examination by the IRS. Because the tax law requires the Company to make many judgments regarding the proper treatment of a transaction or an item of income or deduction, it is possible that the IRS could
challenge positions the Company takes in computing its adjusted REIT taxable income and its distributions. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Issues could arise, for example, with respect
to the allocation of the purchase price of properties between depreciable or amortizable assets and <FONT STYLE="white-space:nowrap">non-depreciable</FONT> or <FONT STYLE="white-space:nowrap">non-amortizable</FONT> assets such as land and the
current </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">33 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
deductibility of fees paid to the Company&#8217;s affiliates. If the IRS were to successfully challenge the Company&#8217;s characterization of a transaction or determination of adjusted REIT
taxable income, the Company could be found to have failed to satisfy a requirement for qualification as a REIT. If, as a result of a challenge, the Company is determined to have failed to satisfy the distribution requirements for a taxable year, it
would be disqualified as a REIT, unless the Company were permitted to pay a deficiency dividend to its stockholders and pay interest thereon to the IRS, as provided by the Code. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Additionally, Section&nbsp;163(j) of the Code, as amended by TCJA and the OBBBA, limits the deductibility of net interest expense paid or accrued on debt
properly allocable to a trade or business to 30% of &#8220;adjusted taxable income,&#8221; subject to certain exceptions. Any deduction in excess of the limitation is carried forward and may be used in a subsequent year, subject to the 30%
limitation. Adjusted taxable income is determined without regard to certain deductions, including those for net interest expense net operating loss carryforwards, and for taxable years beginning after December&nbsp;31, 2024, depreciation,
amortization, and depletion. Provided the taxpayer makes a timely election (which is irrevocable), the 30% limitation does not apply to a trade or business involving real property development, redevelopment, construction, reconstruction, rental,
operation, acquisition, conversion, disposition, management, leasing or brokerage, within the meaning of Section&nbsp;469(c)(7)(C) of the Code. If this election is made, depreciable real property (including certain improvements) held by the relevant
trade or business must be depreciated under the alternative depreciation system under the Code, which is generally less favorable than the generally applicable system of depreciation under the Code. The Company&#8217;s leasing, management and
operation of office properties should constitute a real property trade or business, and the Company may elect not to have the interest deduction limitation apply to that trade or business. Further, the IRS has issued regulations that include a safe
harbor that would allow any REIT to treat its real property assets (other than certain real property financing assets) as a real property trade or business that qualifies for the election. These regulations provide that a partnership may apply this
safe harbor at the partnership level if one or more real estate investment trusts own, directly or indirectly, at least 50% of the partnership&#8217;s capital and profits, the partnership would satisfy the REIT income and assets requirements if the
partnership were a REIT, and the partnership satisfies the requirements to qualify for the safe harbor as if the partnership were a REIT. A real estate investment trust or a partnership that chooses not to apply the safe harbor may still elect the
benefits of the election applicable to a real property trade or business for one or more of its trades or businesses if such businesses are otherwise eligible for such election. If the Company does not make the election or if the election is
determined not to be available with respect to all or certain of its business activities, the new interest deduction limitation could result in the Company having more REIT taxable income and thus increase the amount of distributions the Company
must make to comply with the REIT requirements and avoid incurring corporate level tax. Similarly, the limitation could cause the Company&#8217;s taxable REIT subsidiaries (who may not independently qualify to make the Section&nbsp;469(c)(7)(C)
election) to have greater taxable income and thus potentially greater corporate tax liability. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Further, some of the Company&#8217;s investments may be in
the form of sale-leaseback transactions which the Company generally intends to treat as true leases for U.S. federal income tax purposes. Depending on the terms of any specific transaction, the IRS might take the position that the transaction is not
a true lease, but is more properly treated in some other manner. If such <FONT STYLE="white-space:nowrap">re-characterization</FONT> were successful, the Company would not be entitled to claim the depreciation deductions available to an owner of the
property. In addition, the <FONT STYLE="white-space:nowrap">re-characterization</FONT> of one or more of these transactions might cause the Company to fail to satisfy the Asset Tests or the Income Tests described above based upon the asset the
Company would be treated as holding or the income the Company would be treated as having earned and such failure could result in the Company failing to qualify as a REIT. The amount or timing of income inclusion or the loss of depreciation
deductions resulting from the <FONT STYLE="white-space:nowrap">re-characterization</FONT> would result in adjustments to the Company&#8217;s adjusted REIT taxable income and might cause the Company to fail to meet the distribution requirement
described above for one or more taxable years absent the availability of the deficiency dividend procedure, might increase the Company&#8217;s tax liability, or might result in a larger portion of the Company&#8217;s distributions being treated as
ordinary dividend income to its stockholders. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">34 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Operational Requirements&#8212;Record Keeping </I></B></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company must maintain certain records as set forth in Treasury Regulations in order to avoid the payment of monetary penalties to the IRS. Such Treasury
Regulations require that the Company request, on an annual basis, certain information designed to disclose the ownership of the Company&#8217;s outstanding shares. The Company intends to comply with these requirements. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Failure to Qualify as a REIT </B></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If the Company fails to
qualify as a REIT for any reason in a taxable year and applicable relief provisions do not apply, it will be subject to tax (including any applicable alternative minimum tax) on its taxable income at the regular corporate rate. The Company will not
be able to deduct dividends paid to its stockholders in any year in which it fails to qualify as a REIT. In this situation, to the extent of the Company&#8217;s current and accumulated earnings and profits, all distributions to its stockholders that
are individuals will generally be taxable at capital gains rates, and, subject to limitations of the Code, corporate distributees may be eligible for the dividends-received deduction. The Company also will be disqualified for the four taxable years
following the year during which qualification was lost unless it is entitled to relief under specific statutory provisions. It is not possible to state whether the Company would be entitled to such statutory relief in all circumstances. In addition,
to <FONT STYLE="white-space:nowrap">re-elect</FONT> REIT status after being disqualified, the Company would have to distribute as dividends, no later than the end of its first taxable year as a <FONT STYLE="white-space:nowrap">re-electing</FONT>
REIT, all of the earnings and profits attributable to <FONT STYLE="white-space:nowrap">non-REIT</FONT> taxable years. Thus, to <FONT STYLE="white-space:nowrap">re-elect</FONT> REIT status after being disqualified, the Company could be required to
incur substantial indebtedness or liquidate substantial investments in order to make such distributions. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Prohibited Transactions Tax </B></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Any gain that a REIT recognizes from the sale of property held as inventory or otherwise held primarily for sale to customers in the ordinary course of
business (excluding sales of foreclosure property and sales conducted by taxable REIT subsidiaries) will be treated as income from a prohibited transaction that is subject to a 100% penalty tax. Under existing law, whether property is held as
inventory or primarily for sale to customers in the ordinary course of business is a question of fact that depends on all of the facts and circumstances of the particular transaction. Under a statutory safe harbor, however, the Company will not be
subject to the 100% tax with respect to a sale of property if (i)&nbsp;the property has been held for at least two years for the production of rental income prior to the sale, (ii)&nbsp;capitalized expenditures on the property in the two years
preceding the sale are less than 30% of the net selling price of the property and (iii)&nbsp;the Company either (a)&nbsp;has seven or fewer sales of property (excluding certain property obtained through foreclosure and other than certain involuntary
conversions) in the year of sale or (b)&nbsp;(x) substantially all of the marketing and development expenditures with respect to the property sold are made through an independent contractor from whom the Company derives no income or, for taxable
years beginning after December&nbsp;31, 2015, through a taxable REIT subsidiary, and (y)&nbsp;at least one of the following criteria is met, in each case excluding sales of foreclosure property and involuntary conversions: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the aggregate tax basis of property sold during the year of sale is 10% or less of the aggregate tax basis of all
of the Company&#8217;s assets as of the beginning of the taxable year; </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the aggregate fair market value of property sold during the year of sale is 10% or less of the aggregate fair
market value of all of the Company&#8217;s assets as of the beginning of the taxable year; </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">for sales after December&nbsp;31, 2015, the aggregate tax basis of property sold during the year of sale is 20%
or less of the aggregate tax basis of all of the Company&#8217;s assets as of the beginning of the taxable year, and the aggregate tax basis of property sold during the year of sale and the two preceding years is 10% or less of the sum of the
aggregate tax basis of all of the Company&#8217;s assets on the first day of the year of sale and the two preceding years; or </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">35 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">for sales after December&nbsp;31, 2015, the aggregate fair market value of property sold during the year of sale
is 20% or less of the aggregate fair market value of all of the Company&#8217;s assets as of the beginning of the taxable year, and the aggregate fair market value of property sold during the year of sale and the two preceding years is 10% or less
of the sum of the aggregate fair market value of all of the Company&#8217;s assets on the first day of the year of sale and the two preceding years. </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The sale of more than one property to a buyer as part of one transaction constitutes one sale for purposes of this safe harbor. Not all of the Company&#8217;s
property sales will qualify for the safe harbor. Nevertheless, the Company intends to own its properties for investment with a view to long-term appreciation, to engage in the business of acquiring, developing, redeveloping and owning rental
properties and making occasional sales of properties as are consistent with its investment objectives. However, the IRS may successfully contend that some of the Company&#8217;s sales are prohibited transactions, in which case the Company would be
required to pay the 100% penalty tax on the gains resulting from any such sales. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Other Tax Considerations </B></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company believes that the Operating Partnership and each of the partnerships in which the Operating Partnership is a joint venture partner with third
parties qualifies as either a partnership or a disregarded entity for federal income tax purposes and not as an association taxable as a corporation or as a publicly traded partnership (within the meaning of Section&nbsp;7704 of the Code). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If a partnership in which the Company invested were treated as an association taxable as a corporation, (i)&nbsp;the value of the Company&#8217;s interest in
such partnership would no longer qualify as a real estate asset for purposes of the 75% asset test, (ii)&nbsp;the Company would cease to qualify as a REIT if its ownership interest in such partnership exceeded 10% of the partnership&#8217;s voting
interests, or the value of its debt and equity interest in such partnership exceeded 5% of the value of the Company&#8217;s total assets or 10% of the value of the partnership&#8217;s outstanding debt and equity securities. Furthermore, in such a
situation, distributions from such partnership to the Company would be treated as dividends, which do not qualify in satisfying the 75% gross income test described above and which therefore could make it more difficult for the Company to meet such
test, and the Company would not be able to deduct its share of losses generated by such partnership in computing its net taxable income. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Taxation of
Taxable U.S. Stockholders </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Definitions </I></B></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In
this section, the phrase &#8220;U.S. stockholder&#8221; means a holder of the Company&#8217;s common stock that for U.S. federal income tax purposes is: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">a citizen or resident of the United States; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">a corporation or other entity treated as a corporation for U.S. federal income tax purposes created or organized
in or under the laws of the United States, any state thereof, or the District of Columbia; </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">an estate, the income of which is subject to U.S. federal income taxation regardless of its source; or
</P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">any trust if (1)&nbsp;a U.S. court is able to exercise primary supervision over the administration of the trust
and one or more U.S. persons have the authority to control all substantial decisions of the trust, or (2)&nbsp;it has a valid election in place to be treated as a U.S. person. </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The U.S. federal income tax treatment of a partner in a partnership that holds common stock of the Company generally will depend on the status of the partner
and the activities of such partnership. Partners and partnerships should consult their own tax advisors as to the particular U.S. federal income tax consequences applicable to them. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">36 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For any taxable year for which the Company qualifies for taxation as a REIT, amounts distributed to, and
gains realized by, taxable U.S. stockholders with respect to shares of the Company&#8217;s common stock generally will be taxed as described below. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Distributions Generally </I></B></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Distributions to U.S.
stockholders, other than capital gain distributions discussed below, will constitute dividends to the extent they do not exceed the amount of the Company&#8217;s current or accumulated earnings and profits. Such dividends, other than qualified
dividend income, will be taxable to stockholders as ordinary income. As long as the Company qualifies as a REIT, these distributions are not eligible for the dividends-received deduction generally available to corporations. In addition, with limited
exceptions, these distributions are not eligible for taxation at the preferential income tax rates in effect for qualified distributions received by individuals from taxable &#8220;C&#8221; corporations. Stockholders that are individuals, however,
are taxed at the preferential rates on distributions designated by and received from the Company to the extent that the distributions are treated as qualified dividend income. Dividends will be treated as qualified dividend income to the extent that
the income is attributable to (i) income retained by the Company in the prior taxable year on which the Company was subject to corporate level income tax (less the amount of tax), (ii) distributions received by the Company from taxable
&#8220;C&#8221; corporations, or (iii)&nbsp;income in the prior taxable year from the sales of <FONT STYLE="white-space:nowrap">&#8220;built-in</FONT> gain&#8221; property acquired by the Company from &#8220;C&#8221; corporations in carryover basis
transactions (less the amount of corporate tax on such income). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In addition, under Section&nbsp;199A of the Code, individuals, estates and trusts who
receive &#8220;qualified REIT dividends&#8221; are permitted to claim a tax deduction equal to 20% of the amount of such dividends in determining their U.S. federal taxable income, subject to certain limitations. Pursuant to the Treasury
Regulations, in order for a dividend paid by a REIT to be eligible to be treated as a &#8220;qualified REIT dividend,&#8221; the shareholder must meet two holding period-related requirements. First, the shareholder must hold the REIT shares for a
minimum of 46 days during the <FONT STYLE="white-space:nowrap">91-day</FONT> period that begins 45 days before the date on which the REIT share becomes <FONT STYLE="white-space:nowrap">ex-dividend</FONT> with respect to the dividend. Second, the
qualifying portion of the REIT dividend is reduced to the extent that the shareholder is under an obligation (whether pursuant to a short sale or otherwise) to make related payments with respect to positions in substantially similar or related
property. The 20% deduction does not apply to REIT capital gain dividends or to REIT dividends that we designate as &#8220;qualified dividend income,&#8221; as described above. The Section&nbsp;199A deduction was made permanent by the OBBBA. Thus,
for an individual U.S. holder of the Company&#8217;s shares subject to the maximum 37% tax rate, this tax deduction temporarily reduces the maximum effective U.S. federal income tax rate on ordinary REIT dividends to 29.6%. This deduction, in
contrast to the deduction allowed by Section&nbsp;199A with respect to certain &#8220;qualified business income&#8221; received by, or allocated to, individuals, trusts and estates, is not limited based on <FONT STYLE="white-space:nowrap">W-2</FONT>
wages or invested capital. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">A corporate U.S. holder of the Company&#8217;s shares generally will not qualify for the dividends received deduction
generally available to corporations that receive dividends from <FONT STYLE="white-space:nowrap">non-REIT</FONT> C corporations, but under the TCJA will be subject to U.S. federal income tax on dividends at a rate of 21%. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">To the extent that the Company makes a distribution in excess of the amount of its current and accumulated earnings and profits, the distribution will be
treated first as a <FONT STYLE="white-space:nowrap">tax-free</FONT> return of capital, reducing the tax basis of a U.S. stockholder&#8217;s shares, and the amount of each distribution in excess of a U.S. stockholder&#8217;s tax basis in its shares
will be taxable as gain realized from the sale of its shares. Distributions that the Company declares in October, November or December of any year payable to a stockholder of record on a specified date in any of these months will be treated as both
paid by the Company and received by the stockholder on December&nbsp;31 of the year; provided, that the Company actually pays the distribution during January of the following calendar year. U.S. stockholders may not include any of the
Company&#8217;s losses on their own federal income tax returns. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The term &#8220;earnings and profits&#8221; is a concept used extensively throughout
corporate tax law, but the term is not defined in the Code. Each corporation maintains an &#8220;earnings and profits&#8221; account that helps to measure whether </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">37 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
a distribution originates from corporate earnings or from other sources. Distributions generally decrease earnings and profits while income generally increases earnings and profits. If a
corporation has positive earnings and profits, distributions generally will be considered to come from corporate earnings. As described above, if a corporation has no earnings and profits, distributions generally will be considered as a return of
capital and, thereafter, as capital gain. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company will be treated as having sufficient earnings and profits to treat as a dividend any distribution
by the Company up to the amount required to be distributed in order to avoid imposition of the 4% excise tax discussed above. Moreover, any &#8220;deficiency dividend&#8221; will be treated as an ordinary or capital gain dividend, as the case may
be, regardless of whether the Company has any earnings and profits. As a result, stockholders may be required to treat as taxable some distributions that would otherwise result in a <FONT STYLE="white-space:nowrap">tax-free</FONT> return of capital.
</P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Capital Gain Distributions </I></B></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Distributions to
U.S. stockholders that the Company properly designates as &#8220;capital gain dividends&#8221; normally will be treated as long-term capital gains to the extent they do not exceed the Company&#8217;s actual net capital gain for the taxable year
without regard to the period for which the U.S. stockholder has held its stock. If the Company designates any portion of a dividend as a capital gain dividend, a U.S. stockholder will receive an IRS Form
<FONT STYLE="white-space:nowrap">1099-DIV</FONT> indicating the amount that will be taxable to the U.S. stockholder as capital gain. A corporate U.S. stockholder might be required to treat up to 20% of some capital gain dividends as ordinary income.
Long-term capital gains are generally taxable at maximum federal rate of 20% in the case of stockholders who are individuals, and 21% in the case of stockholders that are corporations. Capital gains attributable to the sale of depreciable real
property held for more than 12 months are subject to a 25% maximum federal income tax rate for taxpayers who are individuals, to the extent of previously claimed depreciation deductions. See &#8220;&#8212;Requirements for Qualification as a
REIT&#8212;Operational Requirements&#8212;Annual Distribution Requirement&#8221; above for the treatment by U.S. stockholders of net long-term capital gains that the Company elects to retain and pay tax on. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Certain Dispositions of Shares of the Company&#8217;s Common Stock </I></B></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In general, capital gains recognized by U.S. stockholders that are individuals upon the sale or disposition of shares of the Company&#8217;s common stock will
be subject to a maximum federal income tax rate of 20% if such stock is held for more than 12 months, and will be taxed at ordinary federal income rates, with the maximum rate being 37%, if such stock is held for 12 months or less. The IRS has the
authority to issue (but has not yet issued) regulations that would apply a capital gain tax rate of 25% (which is generally higher than the long-term capital gain tax rates for noncorporate stockholders) to a portion of a capital gain realized by a
noncorporate stockholder on the sale of REIT shares that would correspond to the REIT&#8217;s &#8220;unrecaptured Section&nbsp;1250 gain.&#8221; Gains recognized by U.S. stockholders that are corporations are subject to federal income tax at a
maximum rate of 21%, whether or not classified as long-term capital gains. Capital losses recognized by a stockholder upon the disposition of shares of the Company&#8217;s common stock will be considered capital losses, and are generally available
only to offset capital gain income of the stockholder but not ordinary income (except in the case of individuals, who may offset up to $3,000 of ordinary income each year). In addition, any loss upon a sale or exchange of shares of the
Company&#8217;s common stock by a U.S. stockholder who has held such shares for six months or less, after applying holding period rules, will be treated as a long-term capital loss to the extent of distributions received from the Company that are
required to be treated by the stockholder as long-term capital gain. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If a U.S. stockholder has shares of the Company&#8217;s common stock redeemed by the
Company, such U.S. stockholder will be treated as if it sold the redeemed shares if (i)&nbsp;all of its shares of the Company&#8217;s common stock are redeemed (after taking into consideration certain ownership attribution rules set forth in the
Code) or (ii)&nbsp;such redemption is (a)&nbsp;not essentially equivalent to a dividend within the meaning of Section&nbsp;302(b)(1) of the Code or (b)&nbsp;substantially disproportionate within the meaning of Section&nbsp;302(b)(2) of the Code. If
a redemption </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">38 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
is not treated as a sale of the redeemed shares, it will be treated as a distribution made with respect to the U.S. stockholder&#8217;s stock. (See &#8220;&#8212;Distributions Generally.&#8221;)
U.S. stockholders should consult with their tax advisors regarding the taxation of any particular redemption of the Company&#8217;s shares. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Medicare Tax on Unearned Income </I></B></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">A U.S.
stockholder that is an individual, an estate, or a trust (other than certain types of exempt trusts) will generally be subject to a 3.8% tax on the lesser of (1)&nbsp;such person&#8217;s &#8220;net investment income&#8221; for the relevant taxable
year and (2)&nbsp;the excess of such person&#8217;s modified adjusted gross income for the taxable year over a certain threshold (which threshold will generally be (a) $250,000 in the case of a married individual filing a joint return, and (b)
$200,000 in the case of an unmarried individual). A U.S. stockholder&#8217;s net investment income will generally include his or her ordinary and capital gain dividend income received in respect of the common stock of the Company, as well as gains
from the sale or disposition of the Company&#8217;s common stock, unless such dividend income or gains are derived in the ordinary course of the conduct of a trade or business (other than a trade or business that consists of certain passive
activities or securities or commodities trading activities). If you are a U.S. stockholder and are an individual, estate, or trust, you are urged to consult your own tax advisor regarding the potential applicability of this tax to your income and
gains in respect of your investment in the common stock of the Company. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Passive Activity Losses and Investment Interest Limitations </I></B></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Distributions made by the Company and gain arising from the sale or exchange by a U.S. stockholder of the Company&#8217;s stock will not be treated as passive
activity income. As a result, a U.S. stockholder will not be able to apply any &#8220;passive losses&#8221; against income or gain relating to the Company&#8217;s stock. Distributions made by the Company, to the extent they do not constitute return
of capital, generally will be treated as investment income for purposes of computing the investment interest limitation. Net capital gain derived from a disposition of the Company&#8217;s stock (or capital gain dividends) generally will be excluded
from a U.S. stockholder&#8217;s investment income unless the U.S. stockholder elects to have such gain taxed at ordinary income rates. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Information
Reporting Requirements and Backup Withholding for U.S. Stockholders </I></B></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company will report to its U.S. stockholders and to the IRS the amount of
distributions made or deemed made by it during each calendar year and the amount of tax withheld, if any, by it. Under some circumstances, U.S. stockholders may be subject to backup withholding (currently at a rate of 24%) on payments made with
respect to, or cash proceeds of a sale or exchange of, the common stock of the Company. Backup withholding will apply only if the U.S. stockholder: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">fails to furnish its taxpayer identification number (which, for an individual, would be his or her Social
Security number); </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">furnishes an incorrect taxpayer identification number; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">is notified by the IRS that it has failed properly to report payments of interest or distributions and is subject
to backup withholding; or </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">under some circumstances, fails to certify, under penalties of perjury, that it has furnished a correct taxpayer
identification number and has not been notified by the IRS that it is subject to backup withholding for failure to report interest and distribution payments or has been notified by the IRS that it is no longer subject to backup withholding for
failure to report those payments. </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Backup withholding will not apply with respect to payments made to some stockholders, such as
corporations in certain circumstances and <FONT STYLE="white-space:nowrap">tax-exempt</FONT> organizations. Backup withholding is not an additional tax. Rather, the </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">39 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
amount of any backup withholding with respect to a payment to a U.S. stockholder will be allowed as a credit against the U.S. stockholder&#8217;s U.S. federal income tax liability and may entitle
the U.S. stockholder to a refund, provided that the required information is furnished to the IRS. U.S. stockholders should consult their tax advisors regarding their qualification for exemption from backup withholding and the procedure for obtaining
an exemption. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Statement of Stock Ownership </B></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The
Company is required to demand annual written statements from the record holders of designated percentages of the Company&#8217;s common stock disclosing the actual owners of the shares. Any record stockholder who, upon the Company&#8217;s request,
does not provide the Company with required information concerning actual ownership of the shares is required to include specified information relating to its shares in its U.S. federal income tax return. The Company also must maintain permanent
records showing the information the Company has received about the actual ownership of the Company&#8217;s common stock and a list of those stockholders failing or refusing to comply with the Company&#8217;s demand. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Treatment of <FONT STYLE="white-space:nowrap">Tax-Exempt</FONT> Stockholders </B></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Provided that a <FONT STYLE="white-space:nowrap">tax-exempt</FONT> shareholder, except certain <FONT STYLE="white-space:nowrap">tax-exempt</FONT> shareholders
described below, has not held its shares as &#8220;debt financed property&#8221; within the meaning of the Code and the shares are not otherwise used in an unrelated trade or business, dividend income with respect to the Company&#8217;s shares and
gain from the sale of the Company&#8217;s shares will not be unrelated business taxable income, or UBTI, to a <FONT STYLE="white-space:nowrap">tax-exempt</FONT> shareholder. Generally, &#8220;debt financed property&#8221; is property the acquisition
or holding of which was financed through borrowing by the <FONT STYLE="white-space:nowrap">tax-exempt</FONT> shareholder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For <FONT
STYLE="white-space:nowrap">tax-exempt</FONT> shareholders that are social clubs, voluntary employee benefit associations, supplemental unemployment benefit trusts, or qualified group legal services plans exempt from federal income taxation under
Section&nbsp;501(c)(7), (c)(9) or (c)(17) of the Code, respectively, or single parent title-holding corporations exempt under Section&nbsp;501(c)(2) and whose income is payable to any of the aforementioned
<FONT STYLE="white-space:nowrap">tax-exempt</FONT> organizations, income from an investment in the Company&#8217;s common stock will constitute UBTI under certain circumstances. These prospective investors should consult with their tax advisors
regarding the special UBTI rules applicable to them. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Notwithstanding the foregoing, a portion of the dividends paid by a &#8220;pension-held REIT&#8221;
are treated as UBTI if received by any pension trust which is described in Section&nbsp;401(a) of the Code, is <FONT STYLE="white-space:nowrap">tax-exempt</FONT> under Section&nbsp;501(a) of the Code, and holds more than 10% by value of the
interests in the Company. A pension-held REIT includes any REIT if: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">at least one of such trusts holds more than 25%, by value, of the interests in the REIT, or two or more of such
trusts, each of which owns more than 10%, by value, of the interests in the REIT, hold in the aggregate more than 50%, by value, of the interests in the REIT; and </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">it would not have qualified as a REIT but for the fact that Section&nbsp;856(h)(3) of the Code provides that
shares owned by such trusts shall be treated, for purposes of the &#8220;not closely held&#8221; requirement, as owned by the beneficiaries of the trust rather than by the trust itself. </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The percentage of any REIT dividend from a pension-held REIT that is treated as UBTI is equal to the ratio of the UBTI earned by the REIT, treating the REIT
as if it were a pension trust and therefore subject to tax on UBTI, to the total gross income of the REIT. An exception applies where the percentage is less than 5% for any year, in which case none of the dividends would be treated as UBTI. The
Company believes that it is not, and does not expect to become, a pension-held REIT, and accordingly, the tax treatment described above should not apply to the Company&#8217;s <FONT STYLE="white-space:nowrap">tax-exempt</FONT> shareholders. Because
the Company&#8217;s stock is publicly traded, however, the Company cannot guarantee that it will not become a pension-held REIT in the future. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">40 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Special Tax Considerations for <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Stockholders </B></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The rules governing U.S. federal income taxation of <FONT STYLE="white-space:nowrap">non-resident</FONT> alien individuals, foreign corporations, foreign
partnerships and other foreign stockholders, referred to collectively as <FONT STYLE="white-space:nowrap">&#8220;Non-U.S.</FONT> Holders,&#8221; are complex. The following discussion is intended only as a summary of these rules. <FONT
STYLE="white-space:nowrap">Non-U.S.</FONT> Holders should consult with their own tax advisors to determine the impact of U.S. federal, state and local income tax laws on an investment in the Company&#8217;s common stock, including any reporting
requirements as well as the tax treatment of the investment under the tax laws of their home country. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In general,
<FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holders will be subject to regular U.S. federal income tax with respect to their investment in the Company if the income from the investment is deemed &#8220;effectively connected&#8221; with the <FONT
STYLE="white-space:nowrap">Non-U.S.</FONT> Holder&#8217;s conduct of a trade or business in the United States. A corporate <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holder that receives income that is (or is treated as) effectively connected
with a U.S. trade or business also may be subject to the &#8220;branch profits tax&#8221; under Section&nbsp;884 of the Code, which is imposed in addition to regular U.S. federal income tax at the rate of 30% (subject to reduction under a tax
treaty, if applicable). Effectively connected income must meet various certification requirements to be exempt from withholding. The following discussion will apply to <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holders whose income from their
investment in the Company is not effectively connected (except to the extent that the Foreign Investment in Real Property Tax Act, or FIRPTA, rules discussed below treat such income as effectively connected income). </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Ordinary Dividends </I></B></P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The portion of distributions
received by <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holders payable out of the Company&#8217;s earnings and profits which are not attributable to the Company&#8217;s capital gains and which are neither effectively connected with a U.S.
trade or business of the <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holder nor treated as effectively connected income under the FIRPTA rules applicable to distributions attributable to the disposition of a U.S. real property interest, or
USRPI, will be subject to U.S. withholding tax at the rate of 30%, unless reduced by treaty. The Company intends to withhold at the rate of 30% on all such distributions to <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holders unless it receives
confirmation of a <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holder&#8217;s entitlement to a reduction in such rate by treaty. In general, <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holders will not be considered to be engaged in a U.S.
trade or business solely as a result of their ownership of the Company&#8217;s common stock. In cases where the dividend income from a <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holder&#8217;s investment in the Company&#8217;s common stock is,
or is treated as, effectively connected with the <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holder&#8217;s conduct of a U.S. trade or business, the <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holder generally will be subject to U.S. tax
at graduated rates, in the same manner as U.S. stockholders are taxed with respect to such distributions. Such income must generally be reported on a U.S. income tax return filed by or on behalf of the
<FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holder, and the income may also be subject to the 30% branch profits tax in the case of a <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holder that is a corporation. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I><FONT STYLE="white-space:nowrap">Non-Dividend</FONT> Distributions </I></B></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Unless the common stock of the Company constitutes a USRPI, as described in &#8220;&#8212;Dispositions of the Company&#8217;s Common Stock&#8221; below,
distributions by the Company which are not dividends out of the Company&#8217;s earnings and profits will not be subject to U.S. federal income tax to the extent such distributions do not exceed the <FONT STYLE="white-space:nowrap">Non-U.S.</FONT>
Holder&#8217;s basis in such stock but rather will reduce the adjusted basis of such shares. If it cannot be determined at the time at which a distribution is made whether or not the distribution will exceed current and accumulated earnings and
profits, the distribution will be subject to withholding at the rate applicable to dividends; however, the <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holder may seek a refund from the IRS of any amounts withheld if it is subsequently
determined that the distribution was, in fact, in excess of the Company&#8217;s current and accumulated earnings and profits. If the Company&#8217;s common stock constitutes a USRPI, as described below, distributions by the Company to a <FONT
STYLE="white-space:nowrap">Non-U.S.</FONT> Shareholder (other than a qualified foreign pension fund or a qualified shareholder, as defined below) that exceed the sum of its earnings and profits plus the stockholder&#8217;s basis in the stock of the
Company will be taxed under FIRPTA at the rate of tax, including any applicable capital gains rates, that would apply to a U.S. stockholder of the same type (e.g., an individual or a corporation, as the case may be), and the collection of the tax
will be enforced by a refundable withholding at a rate of 15% of the amount by which the distribution exceeds the <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holder&#8217;s share of the Company&#8217;s earnings and profits. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">41 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Capital Gain Distributions </I></B></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Subject to certain exceptions described below, a distribution made by the Company to a <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holder, to the extent
attributable to gains from dispositions of USRPIs held by the Company directly or through pass-through subsidiaries, or &#8220;USRPI gains,&#8221; will be treated under FIRPTA as effectively connected with a U.S. trade or business of the <FONT
STYLE="white-space:nowrap">Non-U.S.</FONT> Holder and will be subject to U.S. federal income tax at the rates applicable to U.S. individuals or corporations, without regard to whether the distribution is designated as a capital gain dividend. See
&#8220;&#8212;Ordinary Dividends&#8221; above for a discussion of the consequences of income that is effectively connected with a U.S. trade or business. The Company will be required to withhold tax equal to 21% of the amount of dividends to the
extent the dividends constitute USRPI gains. A capital gain dividend paid by the Company that would otherwise have been treated as a USRPI gain will not be so treated or be subject to FIRPTA, will generally not be treated as income that is
effectively connected with a U.S. trade or business, and will instead be treated the same as an ordinary dividend from the Company (see &#8220;&#8212;Ordinary Dividends&#8221; above), provided, that (1)&nbsp;the capital gain dividend is received
with respect to a class of stock that is regularly traded on an established securities market located in the United States, and (2)&nbsp;the recipient <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holder does not own more than 10% of that class
of stock at any time during the <FONT STYLE="white-space:nowrap">one-year</FONT> period ending on the date of the relevant distribution. Although not entirely free from doubt, capital gain dividends received by a
<FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holder from a REIT that are not USRPI gains should not be treated as ordinary dividend income under the foregoing rule and thus generally should be exempt from U.S. federal income tax, although such
amounts may be subject to withholding tax. Distributions subject to FIRPTA may also be subject to a 30% branch profits tax for a <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holder which is a corporation. A distribution is not a USRPI gain if
the Company held the underlying asset solely as a creditor. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Notwithstanding the foregoing rules, any distribution to a &#8220;qualified foreign pension
fund&#8221; (or an entity all of the interests of which are held by a qualified foreign pension fund) who holds the Company&#8217;s stock (directly or indirectly through one or more partnerships) will not be treated as a distribution to a foreign
person for purposes of FIRPTA and thus will not be subject to the withholding rules under FIRPTA. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">A qualified foreign pension fund is any trust,
corporation, or other organization or arrangement (A)&nbsp;which is created or organized under the law of a country other than the United States, (B)&nbsp;which is established to provide retirement or pension benefits to participants or
beneficiaries that are current or former employees (or persons designated by such employees) of one or more employers in consideration for services rendered, (C)&nbsp;which does not have a single participant or beneficiary with a right to more than
5% of its assets or income, (D)&nbsp;which is subject to government regulation and provides annual information reporting about its beneficiaries to the relevant tax authorities in the country in which it is established or operates, and (E)&nbsp;with
respect to which, under the laws of the country in which it is established or operates, (i)&nbsp;contributions to such organization or arrangement that would otherwise be subject to tax under such laws are deductible or excluded from the gross
income of such entity or taxed at a reduced rate, or (ii)&nbsp;taxation of any investment income of such organization or arrangement is deferred or such income is taxed at a reduced rate. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In addition, subject to the exception discussed later in this paragraph, any distribution to a &#8220;qualified shareholder&#8221; who holds the
Company&#8217;s stock directly (or indirectly through one or more partnerships) will not be subject to U.S. tax under FIRPTA on distributions made with respect to that stock that are attributable to gain from sales or exchanges of USRPIs and thus
will not be subject to the 21% withholding tax imposed on such distributions under FIRPTA. If a foreign investor in a qualified shareholder directly or indirectly, whether or not by reason of such investor&#8217;s ownership interest in the
&#8220;qualified shareholder,&#8221; holds more than 10% of the Company&#8217;s stock, then a portion of the Company&#8217;s stock held by the qualified shareholder (based on the foreign investor&#8217;s percentage ownership of the qualified
shareholder) will be treated as a USRPI in the hands of the qualified shareholder, and distributions made with respect to that stock that are attributable to gain from sales or exchanges of USRPIs will be subject to FIRPTA. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">A qualified shareholder is a foreign person that (i)&nbsp;either is eligible for the benefits of a comprehensive income tax treaty with the United States
which includes an exchange of information program and whose principal class </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">42 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
of interests is listed and regularly traded on one or more recognized stock exchanges (as defined in such comprehensive income tax treaty), or is a foreign partnership that is created or
organized under foreign law as a limited partnership in a jurisdiction that has an agreement for the exchange of information with respect to taxes with the United States and has a class of limited partnership units representing greater than 50% of
the value of all the partnership units that is regularly traded on the NYSE or NASDAQ markets, (ii)&nbsp;is a &#8220;qualified collective investment vehicle&#8221; (defined below), and (iii)&nbsp;maintains records on the identity of each person who,
at any time during the foreign person&#8217;s taxable year, is the direct owner of 5% or more of the class of interests or units (as applicable) described in (i), above. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">A qualified collective investment vehicle is a foreign person that (i)&nbsp;would be eligible for a reduced rate of withholding with respect to ordinary
dividends paid by a REIT under the comprehensive income tax treaty described above, even if such entity holds more than 10% of the stock of such REIT, (ii)&nbsp;is publicly traded, is treated as a partnership under the Code, is a withholding foreign
partnership, and would be treated as a USRPHC if it were a domestic corporation, or (iii)&nbsp;is designated as such by the Secretary of the Treasury and is either (a)&nbsp;fiscally transparent within the meaning of section 894 of the Code, or
(b)&nbsp;required to include dividends in its gross income, but is entitled to a deduction for distributions to its investors. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Dispositions of the
Company&#8217;s Common Stock </I></B></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Gain recognized by a <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holder from the sale or exchange of shares of
the Company&#8217;s common stock generally will not be subject to U.S. federal income tax unless: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">the investment in the Company&#8217;s common stock is effectively connected with the <FONT
STYLE="white-space:nowrap">Non-U.S.</FONT> Holder&#8217;s U.S. trade or business, in which case the <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holder generally will be subject to the same treatment as domestic shareholders with respect to any
gain (and corporate <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holders may be subject to the additional branch profits tax under certain circumstances); </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">the <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holder is a nonresident alien individual who is present in
the United States for 183 days or more during the taxable year and has a &#8220;tax home&#8221; in the United States, in which case the nonresident alien individual will be subject to a 30% tax on the individual&#8217;s net capital gains from United
States sources for the taxable year; or </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(3)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">the shares of the Company&#8217;s common stock constitute a USRPI. </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Shares of the Company&#8217;s common stock will not constitute a USRPI if the Company is a domestically controlled REIT. The Company will be a domestically
controlled REIT if, at all times during a specified testing period, less than 50% in value of the Company&#8217;s stock is held, directly or indirectly, by <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holders. Treasury Regulations finalized on
April&nbsp;25, 2024, apply look-through treatment to <FONT STYLE="white-space:nowrap">non-public</FONT> domestic corporations owned 50% or more by foreign persons for these purposes. The Company believes that it is a domestically controlled REIT
and, therefore, that the sale of shares of its common stock will not be subject to taxation as USRPIs. Because the Company&#8217;s stock is publicly traded, however, there can be no guarantee that the Company is or will continue to be a domestically
controlled REIT. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Even if the Company does not qualify as a domestically controlled REIT, gain arising from the sale by a
<FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holder of shares of the Company&#8217;s common stock will not be subject to U.S. federal income tax as effectively connected income if: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">the class of shares sold is considered (under applicable Treasury Regulations) regularly traded on an
established securities market, such as the New York Stock Exchange; and </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="7%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">the selling <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holder owned, actually or constructively, 10% or
less in value of the outstanding class of shares being sold throughout the shorter of the period during which the <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holder held such class of shares or the five-year period ending on the date of the
sale or exchange. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">43 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In addition, dispositions of the Company&#8217;s stock by a qualified shareholder or a qualified foreign
pension fund will not be subject to tax or withholding under FIRPTA, subject in the case of qualified shareholders to the exception described above relating to foreign investors who own more than 10% of the Company&#8217;s stock. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If gain on the sale or exchange of shares of the Company&#8217;s common stock by a <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holder is treated as gain
from the sale of a USRPI, the <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holder would be subject to regular U.S. federal income tax with respect to any gain on a net basis in the same manner as a taxable U.S. stockholder, subject to any
applicable alternative minimum tax and a special alternative minimum tax in the case of nonresident alien individuals. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Information Reporting
Requirements and Backup Withholding for <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Stockholders </I></B></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holders should consult their tax advisors with regard to U.S. information reporting and backup withholding
requirements under the Code. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>FATCA </B></P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The
&#8220;Foreign Account Tax Compliance Act&#8221; or &#8220;FATCA&#8221; imposes a 30% withholding tax on certain types of payments made to &#8220;foreign financial institutions&#8221; and certain other
<FONT STYLE="white-space:nowrap">non-U.S.</FONT> entities unless certain due diligence, reporting, withholding, and certification requirements are satisfied. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As a general matter, and among other things, FATCA will impose a 30% withholding tax on dividends on, and (subject to the proposed Treasury Regulations
discussed below) gross proceeds from the sale or other disposition of, the Company&#8217;s stock if paid to a foreign entity unless (i)&nbsp;if the foreign entity is a &#8220;foreign financial institution,&#8221; the foreign entity undertakes
certain due diligence, reporting, withholding, and certification obligations, (ii)&nbsp;if the foreign entity is not a &#8220;foreign financial institution,&#8221; the foreign entity certifies it has no substantial U.S. owners or furnishes
information regarding each substantial U.S. owner, or (iii)&nbsp;the foreign entity is otherwise excepted under FATCA. While withholding under FATCA would have applied also to payments of gross proceeds from the sale or other disposition of our
shares on or after January&nbsp;1, 2019, proposed Treasury Regulations eliminate FATCA withholding on payments of gross proceeds entirely. Taxpayers generally may rely on these proposed Treasury Regulations until final Treasury Regulations are
issued. Prospective investors should consult their tax advisors regarding the effect of FATCA in their particular circumstances. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Other Tax
Considerations </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Legislative or Other Actions Affecting REITs </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The rules of federal income taxation are constantly under review by persons involved in the legislative process and by the IRS and the U.S. Treasury
Department. No assurance can be given as to whether, or in what form, any proposals affecting REITs or their stockholders will be enacted. Changes to the U.S. federal income tax laws and interpretations thereof could adversely affect an investment
in the Company&#8217;s stock. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>State and Local Taxation </I></B></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company and its operating subsidiaries, and any operating subsidiaries the Company may form in the future, may be subject to state and local tax in states
and localities in which the Company or they do business or own property. The tax treatment of the Company, the Operating Partnership, any operating subsidiaries, joint ventures or other arrangements the Company or the Operating Partnership may form
or enter into and the tax treatment of the holders of the Company&#8217;s common stock in local jurisdictions may differ from the U.S. federal income tax treatment described above. Consequently, prospective stockholders should consult their own tax
advisors regarding the effect of state and local tax laws on their investment in the Company&#8217;s common stock. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Tax Shelter Reporting
</I></B></P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If a holder of the Company&#8217;s common stock recognizes a loss as a result of a transaction with respect to the Company&#8217;s common stock
of at least (i) $2&nbsp;million or more in a single taxable year or $4&nbsp;million or more in a </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">44 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
combination of taxable years, for a stockholder that is an individual, S corporation, trust, or a partnership with at least one <FONT STYLE="white-space:nowrap">non-corporate</FONT> partner, or
(ii) $10&nbsp;million or more in a single taxable year or $20&nbsp;million or more in a combination of taxable years, for a stockholder that is either a corporation or a partnership with only corporate partners, such stockholder may be required to
file a disclosure statement with the IRS on Form 8886. Direct holders of portfolio securities are in many cases exempt from this reporting requirement, but holders of REIT securities currently are not exempted. The fact that a loss is reportable
under these Treasury regulations does not affect the legal determination of whether the taxpayer&#8217;s treatment of the loss is proper. Stockholders should consult their tax advisors to determine the applicability of these Treasury regulations in
light of their individual circumstances. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">45 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="tx111323_13"></A>PLAN OF DISTRIBUTION </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We may sell any securities: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">through underwriters or dealers; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">through agents; or </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">directly to one or more purchasers. </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The distribution of the securities may be effected from time to time in one or more transactions: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">at a fixed price or prices, which may be changed from time to time; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">at market prices prevailing at the time of sale; or </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">at prices related to such prevailing market prices, or at negotiated prices. </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For each series of securities, the prospectus supplement will set forth the terms of the offering including: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the price at which such securities will be offered; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the names of any underwriters, dealers or agents; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the purchase price of the securities; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">our proceeds from the sale of the securities; </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">any underwriting discounts, agency fees, or other compensation payable to underwriters or agents;
</P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">any discounts or concessions allowed or reallowed or repaid to dealers; and </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the securities exchanges on which the securities will be listed, if any. </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If we use underwriters in the sale, they will buy the securities for their own account. The underwriters may then resell the securities in one or more
transactions at a fixed public offering price or at varying prices determined at the time of sale or thereafter. The obligations of the underwriters to purchase the securities will be subject to certain conditions. The underwriters will be obligated
to purchase all the securities offered if they purchase any securities. Any initial public offering price and any discounts or concessions allowed or <FONT STYLE="white-space:nowrap">re-allowed</FONT> or paid to dealers may be changed from time to
time. In connection with an offering, underwriters and their affiliates may engage in transactions to stabilize, maintain or otherwise affect the market price of the securities in accordance with applicable law. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Underwriters or agents could make sales in privately negotiated transactions and/or any other method permitted by law, including sales deemed to be an <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">&#8220;at-the-market&#8221;</FONT></FONT> offering as defined in Rule 415 promulgated under the Securities Act, which includes sales made directly on the New York Stock Exchange, the
existing trading market for our common stock, or sales made to or through a market maker other than on an exchange. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Underwriters and agents in any
distribution contemplated hereby will be named in the applicable prospectus supplement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If we use dealers in the sale, we will sell securities to such
dealers as principals. The dealers may then resell the securities to the public at varying prices to be determined by such dealers at the time of resale. If we use agents in </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">46 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
the sale, they will use their reasonable best efforts to solicit purchases for the period of their appointment. If we sell directly, no underwriters or agents would be involved. We are not making
an offer of securities in any state that does not permit such an offer. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Underwriters, dealers and agents that participate in the securities distribution
may be deemed to be underwriters as defined in the Securities Act. Any discounts, commissions, or profit they receive when they resell the securities may be treated as underwriting discounts and commissions under that Securities Act. We may have
agreements with underwriters, dealers and agents to indemnify them against certain civil liabilities, including certain liabilities under the Securities Act, or to contribute with respect to payments that they may be required to make. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We may authorize underwriters, dealers or agents to solicit offers from certain institutions whereby the institution contractually agrees to purchase the
securities from us on a future date at a specific price. This type of contract may be made only with institutions that we specifically approve. Such institutions could include banks, insurance companies, pension funds, investment companies and
educational and charitable institutions. The underwriters, dealers or agents will not be responsible for the validity or performance of these contracts. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In connection with an offering of securities, the underwriters may purchase and sell securities in the open market. These transactions may include
over-allotment, syndicate covering transactions and stabilizing transactions. Over-allotment involves sales of securities in excess of the principal amount of securities to be purchased by the underwriters in an offering, which creates a short
position for the underwriters. Covering transactions involve purchases of the securities in the open market after the distribution has been completed in order to cover short positions. Stabilizing transactions consist of certain bids or purchases of
securities made for the purpose of preventing or retarding a decline in the market price of the securities while the offering is in progress. Any of these activities may have the effect of preventing or retarding a decline in the market price of the
securities being offered. They may also cause the price of the securities being offered to be higher than the price that otherwise would exist in the open market in the absence of these transactions. The underwriters may conduct these transactions
in the <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">over-the-counter</FONT></FONT> market or otherwise. If the underwriters commence any of these transactions, they may discontinue them at any time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The securities, other than the common stock, will be new issues of securities with no established trading market and unless otherwise specified in the
applicable prospectus supplement, we will not list any series of the securities on any exchange. It has not presently been established whether the underwriters, if any, of the securities will make a market in the securities. If the underwriters make
a market in the securities, such market making may be discontinued at any time without notice. No assurance can be given as to the liquidity of the trading market for the securities. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">47 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="tx111323_14"></A>LEGAL MATTERS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Venable LLP will pass upon the validity of the securities offered by this prospectus. King&nbsp;&amp; Spalding LLP will pass upon certain tax matters related
to the Company. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">48 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="tx111323_15"></A>EXPERTS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The financial statements incorporated in this Prospectus by reference to the Annual Report on Form <FONT STYLE="white-space:nowrap">10-K</FONT> for the year
ended December&nbsp;31, 2024 have been so incorporated in reliance on the report of PricewaterhouseCoopers LLP, an independent registered public accounting firm, given on the authority of said firm as experts in auditing and accounting. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">49 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
<DIV STYLE="line-height:2.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:2.00pt solid #000000">&nbsp;
</DIV><DIV STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</DIV> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:16pt; font-family:Times New Roman" ALIGN="center"><B>$400,000,000 </B></P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>CURBLINE PROPERTIES CORP. </B></P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:14pt; font-family:Times New Roman" ALIGN="center"><B>Common Stock </B></P> <P STYLE="font-size:24pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g111323g01g01.jpg" ALT="LOGO" STYLE="width:3.04599in;height:0.859056in;">
 </P> <P STYLE="font-size:80pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center><DIV STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</DIV></center>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>PROSPECTUS SUPPLEMENT </B></P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center><DIV STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</DIV></center>
<P STYLE="font-size:80pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt">


<TR>

<TD WIDTH="23%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="25%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="25%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="24%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top" NOWRAP ALIGN="center"><B>Jefferies</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center"><B>BNY Capital Markets</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center"><B>BofA Securities</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center"><B>BTIG</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top" NOWRAP ALIGN="center"><B>Capital One Securities</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3" NOWRAP ALIGN="center"><B>Goldman Sachs&nbsp;&amp; Co. LLC</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center"><B>KeyBanc Capital Markets</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top" NOWRAP ALIGN="center"><B>Morgan Stanley</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3" NOWRAP ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>StoneX Financial Inc.</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP ALIGN="center"><B>Wells Fargo Securities</B></TD></TR>
</TABLE> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>June&nbsp;2, 2026 </B></P>
<P STYLE="font-size:30pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;
</DIV><DIV STYLE="line-height:4.5pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.00pt solid #000000">&nbsp;</DIV>
</DIV></Center>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-FILING FEES
<SEQUENCE>2
<FILENAME>d111323dexfilingfees.htm
<DESCRIPTION>EX-FILING FEES
<TEXT>
<XBRL>
<?xml version='1.0' encoding='ASCII'?>
<html xmlns="http://www.w3.org/1999/xhtml" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:iso4217="http://www.xbrl.org/2003/iso4217" xmlns:ix="http://www.xbrl.org/2013/inlineXBRL" xmlns:ixt="http://www.xbrl.org/inlineXBRL/transformation/2015-02-26" xmlns:ixt-sec="http://www.sec.gov/inlineXBRL/transformation/2015-08-31" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:dei="http://xbrl.sec.gov/dei/2026" xmlns:ffd="http://xbrl.sec.gov/ffd/2026">
<head>
<title>EX-FILING FEES</title>
</head>
  <body> <div style="display: none"> <ix:header> <ix:hidden> <ix:nonNumeric name="ffd:FormTp" contextRef="rc" id="ixv-344">S-3</ix:nonNumeric> <ix:nonNumeric name="ffd:SubmissnTp" contextRef="rc" id="ixv-345">424B5</ix:nonNumeric> <ix:nonNumeric name="ffd:FeeExhibitTp" contextRef="rc" id="ixv-346">EX-FILING FEES</ix:nonNumeric> <ix:nonNumeric name="ffd:RegnFileNb" contextRef="rc" id="ixv-347">333-290653</ix:nonNumeric> <ix:nonNumeric name="dei:EntityCentralIndexKey" contextRef="rc" id="ixv-348">0002027317</ix:nonNumeric> <ix:nonNumeric name="dei:EntityRegistrantName" contextRef="rc" id="ixv-349">Curbline Properties Corp.</ix:nonNumeric> <ix:nonNumeric name="ffd:OfferingTableNa" contextRef="rc" id="hiddenrcOfferingTableNa" xsi:nil="true"></ix:nonNumeric> <ix:nonNumeric name="ffd:OffsetTableNa" contextRef="rc" id="hiddenrcOffsetTableNa">N/A</ix:nonNumeric> <ix:nonNumeric name="ffd:CombinedProspectusTableNa" contextRef="rc" id="hiddenrcCombinedProspectusTableNa">N/A</ix:nonNumeric> </ix:hidden> <ix:references> <link:schemaRef xlink:href="https://xbrl.sec.gov/ffd/2026/ffd-2026.xsd" xlink:type="simple"/> </ix:references> <ix:resources> <xbrli:context id="rc"> <xbrli:entity> <xbrli:identifier scheme="http://www.sec.gov/CIK">0002027317</xbrli:identifier> </xbrli:entity> <xbrli:period> <xbrli:startDate>2026-06-01</xbrli:startDate> <xbrli:endDate>2026-06-01</xbrli:endDate> </xbrli:period> </xbrli:context> <xbrli:context id="offrl_1"> <xbrli:entity> <xbrli:identifier scheme="http://www.sec.gov/CIK">0002027317</xbrli:identifier> <xbrli:segment> <xbrldi:typedMember dimension="ffd:OfferingAxis"> <dei:lineNo>1</dei:lineNo> </xbrldi:typedMember> </xbrli:segment> </xbrli:entity> <xbrli:period> <xbrli:startDate>2026-06-01</xbrli:startDate> <xbrli:endDate>2026-06-01</xbrli:endDate> </xbrli:period> </xbrli:context> <xbrli:unit id="USD"> <xbrli:measure>iso4217:USD</xbrli:measure> </xbrli:unit> <xbrli:unit id="pure"> <xbrli:measure>xbrli:pure</xbrli:measure> </xbrli:unit> <xbrli:unit id="Shares"> <xbrli:measure>xbrli:shares</xbrli:measure> </xbrli:unit> </ix:resources> </ix:header> </div> <div>
<table style="width: 99%; font-family: Arial, Helvetica, sans-serif; font-size: 20pt; text-align: center;">
<tr>
<td colspan="4" style="padding-bottom: .5em"> <p> <b>Calculation of Filing Fee Tables</b> </p> </td> </tr>
<tr>
<td style="padding-bottom: .25em"> <p> <b> <ix:nonNumeric name="ffd:FormTp" contextRef="rc" id="ixv-377">S-3</ix:nonNumeric> </b> </p> </td> </tr>
<tr>
<td style="padding-bottom: .25em"> <p> <b> <ix:nonNumeric name="dei:EntityRegistrantName" contextRef="rc" id="ixv-378">Curbline Properties Corp.</ix:nonNumeric> </b> </p> </td> </tr> </table> </div> <div style="padding-bottom: 20px;">
<table style="float: center; width: 100%; text-align: left; ">
<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 16px">
<th style="vertical-align: bottom; text-align: left; word-wrap: break-word"> <b>Table 1: Newly Registered and Carry Forward Securities</b> </th>
<th style="vertical-align: bottom; word-wrap: break-word; text-align: right;"> <span style="-sec-ix-hidden: hiddenrcOfferingTableNa">&#9744;Not Applicable</span> </th> </tr> </table>
<table style="font-family: Arial, Helvetica, sans-serif; float: center; width: 100%; text-align: center; border: 1px solid black; font-size: 16px;">
<tr style="background-color:#9ADAF6">
<th style="width: 12%;">
 </th>
<th style="width: 2%;">
 </th>
<th style="width: 12%;"> <p style="margin: 0pt; text-align: center;"> <b>Security Type</b> </p> </th>
<th style="width: 14%;"> <p style="margin: 0pt; text-align: center;"> <b>Security Class Title </b> </p> </th>
<th style="width: 2%;"> <p style="margin: 0pt; text-align: center;"> <b>Fee Calculation or Carry Forward Rule</b> </p> </th>
<th style="width: 5%;"> <p style="margin: 0pt; text-align: center;"> <b>Amount Registered</b> </p> </th>
<th style="width: 15%;"> <p style="margin: 0pt; text-align: center;"> <b>Proposed Maximum Offering Price Per Unit</b> </p> </th>
<th style="width: 10%;"> <p style="margin: 0pt; text-align: center;"> <b>Maximum Aggregate Offering Price</b> </p> </th>
<th style="width: 5%;"> <p style="margin: 0pt; text-align: center;"> <b>Fee Rate</b> </p> </th>
<th style="width: 6%;"> <p style="margin: 0pt; text-align: center;"> <b>Amount of Registration Fee</b> </p> </th>
<th style="width: 1%;"> <p style="margin: 0pt; text-align: center;"> <b>Carry Forward Form Type</b> </p> </th>
<th style="width: 7%;"> <p style="margin: 0pt; text-align: center;"> <b>Carry Forward File Number</b> </p> </th>
<th style="width: 6%;"> <p style="margin: 0pt; text-align: center;"> <b>Carry Forward Initial Effective Date</b> </p> </th>
<th style="width: 7%;"> <p style="margin: 0pt; text-align: center;"> <b>Filing Fee Previously Paid in Connection with Unsold Securities to be Carried Forward</b> </p> </th> </tr>
<tr>
<td colspan="14" style="text-align: center"> <b>Newly Registered Securities</b> </td> </tr>
<tr style="background-color:#E7E7E2">
<td style="text-align: left;"> <ix:nonNumeric name="ffd:PrevslyPdFlg" contextRef="offrl_1" format="ixt:booleanfalse" id="ixv-379">Fees to be Paid</ix:nonNumeric> </td>
<td style="text-align: center;"> 1 </td>
<td style="text-align: left;"> <ix:nonNumeric name="ffd:OfferingSctyTp" contextRef="offrl_1" id="ixv-380">Equity</ix:nonNumeric> </td>
<td style="text-align: left;"> <ix:nonNumeric name="ffd:OfferingSctyTitl" contextRef="offrl_1" id="ixv-381">Common Stock, $0.01 par value per share</ix:nonNumeric> </td>
<td style="text-align: center;"> <ix:nonNumeric name="ffd:Rule457rFlg" contextRef="offrl_1" format="ixt:booleantrue" id="ixv-382">457(r)</ix:nonNumeric> </td>
<td style="text-align: right;"> </td>
<td style="text-align: right;"> </td>
<td style="text-align: right;"> <span>$</span> <ix:nonFraction name="ffd:MaxAggtOfferingPric" unitRef="USD" decimals="2" format="ixt:numdotdecimal" contextRef="offrl_1" id="ixv-383">400,000,000.00</ix:nonFraction> </td>
<td style="text-align: right;"> <ix:nonFraction name="ffd:FeeRate" unitRef="pure" decimals="7" format="ixt:numdotdecimal" contextRef="offrl_1" id="ixv-384">0.0001381</ix:nonFraction> </td>
<td style="text-align: right;"> <span>$</span> <ix:nonFraction name="ffd:FeeAmt" unitRef="USD" decimals="2" format="ixt:numdotdecimal" contextRef="offrl_1" id="ixv-385">55,240.00</ix:nonFraction> </td>
<td style="text-align: center;"> </td>
<td style="text-align: center;"> </td>
<td style="text-align: center;"> </td>
<td style="text-align: right;"> </td> </tr>
<tr style="background-color:#E7E7E2">
<td style="text-align: left;"> Fees Previously Paid </td>
<td style="text-align: center;"> </td>
<td style="text-align: left;"> </td>
<td style="text-align: left;"> </td>
<td style="text-align: center;"> </td>
<td style="text-align: right;"> </td>
<td style="text-align: right;"> </td>
<td style="text-align: right;"> </td>
<td style="text-align: right;"> </td>
<td style="text-align: right;"> </td>
<td style="text-align: center;"> </td>
<td style="text-align: center;"> </td>
<td style="text-align: center;"> </td>
<td style="text-align: right;"> </td> </tr>
<tr>
<td colspan="14" style="text-align: center"> <b>Carry Forward Securities</b> </td> </tr>
<tr style="background-color:#E7E7E2">
<td style="text-align: left;"> Carry Forward Securities </td>
<td style="text-align: center;"> </td>
<td style="text-align: left;"> </td>
<td style="text-align: left;"> </td>
<td style="text-align: center;"> </td>
<td style="text-align: right;"> </td>
<td style="text-align: right;"> </td>
<td style="text-align: right;"> </td>
<td style="text-align: right;"> </td>
<td style="text-align: right;"> </td>
<td style="text-align: center;"> </td>
<td style="text-align: center;"> </td>
<td style="text-align: center;"> </td>
<td style="text-align: right;"> </td> </tr>
<tr>
<td>
 </td>
<td>
 </td>
<td>
 </td>
<td colspan="3" style="vertical-align: top"> <p style="margin: 0pt; text-align: right">Total Offering Amounts:</p> </td>
<td>
 </td>
<td style="vertical-align: top; width: 16%;"> <p id="MaxAggtOfferingPrice" style="margin: 0pt; text-align: right"> <span>$</span> <ix:nonFraction name="ffd:TtlOfferingAmt" contextRef="rc" decimals="2" format="ixt:numdotdecimal" unitRef="USD" id="ixv-386">400,000,000.00</ix:nonFraction> </p> </td>
<td>
 </td>
<td style="vertical-align: top; border-bottom: 1px black; width: 16%;"> <p id="TotalFeeAmt" style="margin: 0pt; text-align: right"> <span>$</span> <ix:nonFraction name="ffd:TtlFeeAmt" contextRef="rc" decimals="2" format="ixt:numdotdecimal" unitRef="USD" id="ixv-387">55,240.00</ix:nonFraction> </p> </td>
<td>
 </td>
<td>
 </td>
<td>
 </td>
<td>
 </td> </tr>
<tr>
<td>
 </td>
<td>
 </td>
<td>
 </td>
<td colspan="3" style="vertical-align: top"> <p style="margin: 0pt; text-align: right"> Total Fees Previously Paid: </p> </td>
<td>
 </td>
<td>
 </td>
<td>
 </td>
<td style="vertical-align: top"> <p id="TotalPreviouslyPaidAmt" style="margin: 0pt; text-align: right"> <span>$</span> <ix:nonFraction name="ffd:TtlPrevslyPdAmt" contextRef="rc" decimals="2" format="ixt:numdotdecimal" unitRef="USD" id="ixv-388">0.00</ix:nonFraction> </p> </td>
<td>
 </td>
<td>
 </td>
<td>
 </td>
<td>
 </td> </tr>
<tr>
<td>
 </td>
<td>
 </td>
<td>
 </td>
<td colspan="3" style="vertical-align: top"> <p style="margin: 0pt; text-align: right"> Total Fee Offsets: </p> </td>
<td>
 </td>
<td>
 </td>
<td>
 </td>
<td style="vertical-align: top"> <p id="TotalOffsetAmt" style="margin: 0pt; text-align: right"> <span>$</span> <ix:nonFraction name="ffd:TtlOffsetAmt" contextRef="rc" decimals="2" format="ixt:numdotdecimal" unitRef="USD" id="ixv-389">0.00</ix:nonFraction> </p> </td>
<td>
 </td>
<td>
 </td>
<td>
 </td>
<td>
 </td> </tr>
<tr>
<td>
 </td>
<td>
 </td>
<td>
 </td>
<td colspan="3" style="vertical-align: top"> <p style="margin: 0pt; text-align: right"> Net Fee Due: </p> </td>
<td>
 </td>
<td>
 </td>
<td>
 </td>
<td style="vertical-align: top"> <p id="NetFeeAmt" style="margin: 0pt; text-align: right"> <span>$</span> <ix:nonFraction name="ffd:NetFeeAmt" contextRef="rc" decimals="2" format="ixt:numdotdecimal" unitRef="USD" id="ixv-390">55,240.00</ix:nonFraction> </p> </td>
<td>
 </td>
<td>
 </td>
<td>
 </td>
<td>
 </td> </tr> </table> </div> <div>
<table style="width: 100%; text-indent: 0px;"> <tbody>
<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 16px; vertical-align: top;">
<td> <p style="margin:0pt;text-align:left; margin-bottom: 5px;"> <b>Offering Note</b> </p> </td>
<td/> </tr> </tbody> </table> </div> <div style="padding-bottom: 20px;">
<table style="width: 100%; text-indent: 0px;">
<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 16px; vertical-align: top;">
<td style="width:10pt;"> <p style="margin:0pt;text-align:left;"> <sup style="vertical-align:top;line-height:120%;font-size:10px">1</sup> </p> </td>
<td colspan="7" style="white-space: pre-line;"> <ix:nonNumeric name="ffd:OfferingNote" escape="1" contextRef="offrl_1" id="ixv-391">The registration fee is calculated in accordance with Rules 457(o) and 457(r) under the Securities Act of 1933, as amended (the "Securities Act"). In accordance with Rules 456(b) and 457(r) of the Securities Act, the registrant initially deferred payment of all of the registration fees for Registration Statement on Form S-3 (File No. 333-290653) filed by the registrant on October 1, 2025.</ix:nonNumeric> </td> </tr>
<tr>
<td colspan="7"> <hr style="width:100%;text-align:left;margin-left:0"/> </td> </tr> </table> </div> <div style="padding-bottom: 20px;">
<table style="float: center; width: 100%; text-align: left; ">
<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 16px">
<th style="vertical-align: bottom; text-align: left; word-wrap: break-word"> <b>Table 2: Fee Offset Claims and Sources</b> </th>
<th style="vertical-align: bottom; word-wrap: break-word; text-align: right;"> <span style="-sec-ix-hidden: hiddenrcOffsetTableNa">&#9745;Not Applicable</span> </th> </tr> </table>
<table style="font-family: Arial, Helvetica, sans-serif; font-size: 16px; float: center; width: 100%; text-align: center; border: 1px solid black;">
<tr style="background-color:#9ADAF6">
<th style="width: 10%; text-align: left;">
 </th>
<th style="width: 8%; text-align: left;">
 </th>
<th style="width: 16%;"> Registrant or Filer Name </th>
<th style="width: 6%;"> Form or Filing Type </th>
<th style="width: 7%;"> File Number </th>
<th style="width: 6%;"> Initial Filing Date </th>
<th style="width: 6%;"> Filing Date </th>
<th style="width: 6%;"> Fee Offset Claimed </th>
<th style="width: 6%;"> Security Type Associated with Fee Offset Claimed </th>
<th style="width: 8%;"> Security Title Associated with Fee Offset Claimed </th>
<th style="width: 6%;"> Unsold Securities Associated with Fee Offset Claimed </th>
<th style="width: 9%;"> Unsold Aggregate Offering Amount Associated with Fee Offset Claimed </th>
<th style="width: 6%;"> Fee Paid with Fee Offset Source </th> </tr>
<tr>
<td colspan="14" style="text-align: center"> <b>Rules 457(b) and 0-11(a)(2)</b> </td> </tr>
<tr style="background-color:#E7E7E2">
<td style="text-align: left;"> Fee Offset Claims </td>
<td> </td>
<td style="text-align: left;"> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right;"> </td>
<td style="text-align: left;"> </td>
<td style="text-align: left;"> </td>
<td style="text-align: right;"> </td>
<td style="text-align: right;"> </td>
<td style="text-align: right;"> </td> </tr>
<tr style="background-color:#E7E7E2">
<td style="text-align: left;"> Fee Offset Sources </td>
<td> </td>
<td style="text-align: left;"> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right;"> </td>
<td style="text-align: left;"> </td>
<td style="text-align: left;"> </td>
<td style="text-align: right;"> </td>
<td style="text-align: right;"> </td>
<td style="text-align: right;"> </td> </tr>
<tr>
<td colspan="14" style="text-align: center"> <b>Rule 457(p)</b> </td> </tr>
<tr style="background-color:#E7E7E2">
<td style="text-align: left;"> Fee Offset Claims </td>
<td> </td>
<td style="text-align: left;"> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right;"> </td>
<td style="text-align: left;"> </td>
<td style="text-align: left;"> </td>
<td style="text-align: right;"> </td>
<td style="text-align: right;"> </td>
<td style="text-align: right;"> </td> </tr>
<tr style="background-color:#E7E7E2">
<td style="text-align: left;"> Fee Offset Sources </td>
<td> </td>
<td style="text-align: left;"> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right;"> </td>
<td style="text-align: left;"> </td>
<td style="text-align: left;"> </td>
<td style="text-align: right;"> </td>
<td style="text-align: right;"> </td>
<td style="text-align: right;"> </td> </tr> </table> </div> <div style="padding-bottom: 20px;">
<table style="float: center; width: 100%; text-align: left; ">
<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 16px">
<th style="vertical-align: bottom; text-align: left; word-wrap: break-word"> <b>Table 3: Combined Prospectuses</b> </th>
<th style="vertical-align: bottom; word-wrap: break-word; text-align: right;"> <span style="-sec-ix-hidden: hiddenrcCombinedProspectusTableNa">&#9745;Not Applicable</span> </th> </tr> </table>
<table style="font-family: Arial, Helvetica, sans-serif; font-size: 16px; float: center; width: 100%; border: 1px solid black;">
<tr style="background-color:#9ADAF6">
<th style="width: 4%">
 </th>
<th style="width: 14%"> <p style="margin: 0pt; text-align: center;"> <b>Security Type</b> </p> </th>
<th style="width: 25%"> <p style="margin: 0pt; text-align: center;"> <b>Security Class Title</b> </p> </th>
<th style="width: 14%"> <p style="margin: 0pt; text-align: center;"> <b>Amount of Securities Previously Registered</b> </p> </th>
<th style="width: 18%"> <p style="margin: 0pt; text-align: center;"> <b>Maximum Aggregate Offering Price of Securities Previously Registered</b> </p> </th>
<th style="width: 6%"> <p style="margin: 0pt; text-align: center;"> <b>Form Type</b> </p> </th>
<th style="width: 10%"> <p style="margin: 0pt; text-align: center;"> <b>File Number</b> </p> </th>
<th style="width: 8%"> <p style="margin: 0pt; text-align: center;"> <b>Initial Effective Date</b> </p> </th> </tr>
<tr style="background-color:#E7E7E2;">
<td style="text-align: center;"> </td>
<td> </td>
<td> </td>
<td style="text-align: right;"> </td>
<td style="text-align: right;"> </td>
<td style="text-align: center;"> </td>
<td style="text-align: center;"> </td>
<td style="text-align: center;"> </td> </tr> </table> </div> <div style="padding-bottom: 20px;">
<table style="float: center; width: 100%; text-align: left;"> <tbody>
<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 16px">
<th style="vertical-align: bottom; text-align: center; width: 90%;"> <b>Narrative Disclosure</b> </th> </tr> </tbody> </table>
<table style="font-family: Arial, Helvetica, sans-serif; font-size: 16px; float: center; width: 100%; text-align: center; margin-left:auto; margin-right:auto;"> <tbody>
<tr>
<td> The maximum aggregate offering price of the securities to which the prospectus relates is <span>$</span><ix:nonFraction name="ffd:NrrtvMaxAggtOfferingPric" decimals="2" format="ixt:numdotdecimal" unitRef="USD" contextRef="rc" id="ixv-392">400,000,000.00</ix:nonFraction>. <ix:nonNumeric name="ffd:FnlPrspctsFlg" contextRef="rc" format="ixt:booleantrue" id="ixv-393">The prospectus is a final prospectus for the related offering.</ix:nonNumeric> </td> </tr>
<tr>
<td> <div style="padding-top: 20px;"> </div> </td> </tr> </tbody> </table> </div> </body></html>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>g111323g00s03.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g111323g00s03.jpg
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M*"@H*"@H*"C_P  1" $# Y4# 2(  A$! Q$!_\0 '0 !  ,  @,!
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M S7=H955PG+FJK_:G^BTG9!-#',E+W4_T6D[.5>YY>F=$_!V_H  B=
M
M
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M=G*O>\EZ;T3\';^@ ")T
M
M                          (]I#YB[MVK^9"0D>TA\Q=V[5_,AO;YH5L;
M\/<_QG]I9W !UWE:;:'^;%G:'_87F49H?YL6=H?]A>9SL5SOOO9OX/\ W/\
M  "L[X        5-IRY8L_82^=I;)4VG+EBS]A+YVD^&]Y#C]/? U_Z_>%7@
M Z;SI=VACF2E[J?Z+2=D$T,<R4O=3_1:3LY5[WDO3>B?@[?T  1.@
M
M                                                          !'
MM(**[!MU1J*JK%N)V2$A!FF=F8E'>M[VW5;SRSB8^[+7()?V4GS5'()?V4GS
M5-2@N=<^3Y;]+1YOX_\ :C]$,4C,8,5S'-3D#]M4RX"\ "M=N;RK:=[HW ]1
ML[K:S[\^&0 "-?        "IM.7+%G["7SM+9*FTY<L6?L)?.TGPWO(<?I[X
M&O\ U^\*O !TWG2[M#',E+W4_P!%I.R":&.9*7NI_HM)V<J][R7IO1/P=OZ
M (G0
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M3H
M                                                         RL
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M&U%-!B"M?32U#%?&C87R9HBY+[U%([LYX"Z;R^22\4S%,RUFJ(XRLP%9[.>
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M16I 7]/BE/\ #3+],AFYRRUM<T-(  K+CY_XWYL[_P#O"H]8XZ4[K&_-G?\
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MZT     !B[5%\]^^=C3^H8;1,7:HOGOWSL:?U#"6UQ0WN56QST'+U/VQOG.
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M(QRKDC7M3?WLTVEZFX71H4T04^$HHKO?F1U%_<W-C-IS*1%WF\+^%W>3A6X
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M;,57Q7A\M7B'<X+T_5&(\56NSOP]%3MK9VPK*E6KE9GOY:Q,QNZB+M,^*^P
M:)&5@ =IY$[;"/-3:.ZXO20TF9LPCS4VCNN+TD-)E#%\T/M?9?W-SZ_P  J/
MJ   #T;_ /W%<>YI/14]X]&__P!Q7'N:3T5,T\4=WW=7TEF0 '9>3)'HYYM;
M5VQ?14T,9YT<\VMJ[8OHJ:&.?B^:'W'LQ\-7_E_$  *KZ4
M       1/2TYS=&>*%;N_D^9.]K5S,(GT#QA;UNN$[U;VIFZJHIH6IU7,<B?
M2I\_%14547:5">SPE6O\8"Q]3LQC]+MCY)DNM29S<^'D+RN"2Z-+VS#N/+'=
M)7:V&"I;R5W!&[W+U^:Y22KOB45,Y3#>H/QJHYJ.:J*U4S14WS]*B\
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M[M#',E+W4_T6D[()H8YDI>ZG^BTG9RKWO)>F]$_!V_H  B=
M
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MJ?Z+2=D$T,<R4O=3_1:3LY5[WDO3>B?@[?T  1.@
M
M                                   1/21AS\OV-74[<ZZESDAX7)OM
M[^7A1"6 VIJFF<X0XBQ1B+=5JOA+*RHJ*J*F2H"Q]*V$UHJAUYM\?]FF=^G8
MU/\ IO7];K+Y^N5P=:BN*Z=J'F6,PE>$NS:N>'YC5^L<YCD<Q5:YJYHJ+DJ*
M7;HYQJR\P,M]RD1MS8F37+M).B;Z?XN%._UJ1/**1\4C9(GN8]JYM<U<E1>%
M%-;MJ+D92FZ.Z0N8&YMT=\3QC5J<%9X'TC1SMCH<0/2.;WK*I=IK^SX%ZNYU
MBRVN1S4<U4<U4S14VT4YE=NJB<I>A8/&V<91MVI]8^K] !HM@
M    !4VG+EBS]A+YVELE3:<N6+/V$OG:3X;WD./T]\#7_K]X5> #IO.EW:&.
M9*7NI_HM)V030QS)2]U/]%I.SE7O>2]-Z)^#M_0 !$Z
M
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MM=VACF2E[J?Z+2=D$T,<R4O=3_1:3LY5[WDO3>B?@[?T  1.@
M
M                                                 $!Q?HYI+HLE
M5:591UB[:LR_1O7K?JKUO 3X&U%=5$YTJV)PEK%4;%ZG./\ N#,MXL]?9ZE8
M+E320/WE<GN7=5%W%/0-15U%35].ZGK8(YX7;K)&YH5_?M%E%4*Z2S5#J1Z_
M]J7-[.\NZGTEZWBJ9[JNY\CC/9N];SJP\[4:<)])4Z"27?!-^M:JLM"^:-/^
MY3_I$^C;3OH1Q[7,<K7M5KDVE14R5"S35%7"7SUVQ<LSLW*9B?F_  91
M               N[0QS)2]U/]%I.R":&.9*7NI_HM)V<J][R7IO1/P=OZ
M(G0
M
M         ]2NME#7IE74=/4;WZ6-'+]( B<N#6JF*HRJC.$3Q!@O#[('RQVU
MC'Y?J2/:G@1<BIKY14]-+(D$>M1-SW2KYP"]AJIGC+Y#I[#VK??13$?2(ATP
M +CY,               !=VACF2E[J?Z+2=@'*O>\EZ;T3\';^@ ")T
M
H                                                  ?_V0$!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>4
<FILENAME>g111323g01g01.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g111323g01g01.jpg
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M 0 " P$!               #! $"!0<&_\0 .1$!  (! 08#!P(#!P4
M  $" Q$$$A,Q,E$5(5,%!A1!D:'1-($6(F$C4G&QP>'P)#-#8Z+_V@ , P$
M A$#$0 _ -4@          <R>]NY%.CF3WMW(H8GDR^[NEY3DZ=W2\IR=)Y(
M  ,              =,[I.4Y.F=TG*&8:B !S7K@
M
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M-!CIG=)RG)TSNDY2P^5AJ( '->N
M
M                                   !S)[V[D4Z.9/>W<BAB>3+[NZ7
ME.3IW=+RG)TGDB=:'/A7+Y*_I-+J*5T.?"N7R5_2:744\_4^^]W/T?[R  A=
MX        *4TQ?"R/R5G2<764IIB^%D?DK.DXFP=3@^\?Z/]X08Z9W2<IR=,
M[I.4N/@8:B !S7K@
M
M                        ?QZ9L<B;N1_0!GEV$;_KE_\ B:K=^0?SM0O_
M ()JOZ#0X)_B)[/F?X8P?WY^WX51HML-TMN)))Z^AG@A6G<U'O;DF>;=KZBU
MP"*]MZ=9=K8=BKL6+A4G6-=?, !JN        !2FF+X61^2LZ3BZRE-,7PLC
M\E9TG$V#J<'WC_1_O"#'3.Z3E.3IG=)REQ\##40 .:]<
M
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M[-M&R[F*^LZPCITSNDY3DZ9W2<I9?'0U$ #FO7
M
M                                   !EL '2>1
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MQ!2QR+\6I1T&WQ9O1$,;L]F8O6?FFP.8I(YHVR0O;)&Y,VN:N:*GB4Z,-@
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M
M                                                         "NM
M,UL[-:J2XL3-U,_L;\ODNW%YT3G*@-,7B@CNEKJJ*;N)XU9GQ+P+YER4S=74
MLM%63TM0W6S0O5CD\:+D6\%M8T?#>\FR\//&>.5O\X_V?@6_H<O25%MGM4SO
MTM.O9(D7A8J[:>9>D5 >QP_=9K+=J>NI]MT3MMN>TYO"B\J$F2N]71R_9FV?
M![17+/+E/^'_ #S:3!XMKKH+G005E(_7PS-1S5_LOC3</**#TRMHM$6KRD
M9                   *4TQ?"R/R5G2<764IIB^%D?DK.DXFP=3@^\?Z/\
M>$&.F=TG*<G3.Z3E+CX&&H@ <UZX
M
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MJ<'WC_1_O"#'3.Z3E.3IG=)REQ\##40 .:]<
M
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M.Z3E+3XZ&H@ <UZX
M
M                  #P[K;*2ZT;Z6X0,FA=P.W47C1>!2I,5:.JVW*^HM.N
MK:1-O69?I6)R?&\W,7.#>F2:<G/V[V9@VV/[2//O'-EQS5:Y6N14<BY*B\!_
M#1%_PI:;XBNK:9$G7_GQ>Y?S\/GS*\O.BZO@5S[54QU4? R3W#_P7ZBU7-6>
M?D^/VOW?VK!YXXWX_IS^GXU5T#V5RL5TMJJE=05$*)\96*K?ZDVCUI+$Z\G%
MO2V.=V\:3_4  :                !TSNDY3DZ9W2<H9AJ( '->N
M
M
M !Z2_6FW34LDDMOI'R9=TZ%JKSY $F/FYGM7_LJ9Q'3PPR/2*&-B;?<M1".
M%V.3SO-UR  RA              Z9W2<H 9AJ( '->N
M
A                                        #__9

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>6
<FILENAME>R1.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.26.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Submission<br></strong></div></th>
<th class="th"><div>Jun. 01, 2026</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_SubmissionLineItems', window );"><strong>Submission [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Central Index Key</a></td>
<td class="text">0002027317<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Registrant Name</a></td>
<td class="text">Curbline Properties Corp.<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_RegnFileNb', window );">Registration File Number</a></td>
<td class="text">333-290653<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_FormTp', window );">Form Type</a></td>
<td class="text">S-3<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_SubmissnTp', window );">Submission Type</a></td>
<td class="text">424B5<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_FeeExhibitTp', window );">Fee Exhibit Type</a></td>
<td class="text">EX-FILING FEES<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_FeeExhibitTp">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_FeeExhibitTp</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>ffd:feeExhibitTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_FormTp">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_FormTp</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>ffd:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_RegnFileNb">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_RegnFileNb</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>ffd:fileNumberItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_SubmissionLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_SubmissionLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_SubmissnTp">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_SubmissnTp</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>ffd:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>7
<FILENAME>R2.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.26.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Offerings - Offering: 1<br></strong></div></th>
<th class="th">
<div>Jun. 01, 2026 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingTable', window );"><strong>Offering:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_PrevslyPdFlg', window );">Fee Previously Paid</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_Rule457rFlg', window );">Rule 457(r)</a></td>
<td class="text">true<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTp', window );">Security Type</a></td>
<td class="text">Equity<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTitl', window );">Security Class Title</a></td>
<td class="text">Common Stock, $0.01 par value per share<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_MaxAggtOfferingPric', window );">Maximum Aggregate Offering Price</a></td>
<td class="nump">$ 400,000,000.00<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_FeeRate', window );">Fee Rate</a></td>
<td class="nump">0.01381%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_FeeAmt', window );">Amount of Registration Fee</a></td>
<td class="nump">$ 55,240.00<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingNote', window );">Offering Note</a></td>
<td class="text">The registration fee is calculated in accordance with Rules 457(o) and 457(r) under the Securities Act of 1933, as amended (the "Securities Act"). In accordance with Rules 456(b) and 457(r) of the Securities Act, the registrant initially deferred payment of all of the registration fees for Registration Statement on Form S-3 (File No. 333-290653) filed by the registrant on October 1, 2025.<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_FeeAmt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Total amount of registration fee (amount due after offsets).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_FeeAmt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>ffd:nonNegative1TMonetary2ItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_FeeRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The rate per dollar of fees that public companies and other issuers pay to register their securities with the Commission.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_FeeRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_MaxAggtOfferingPric">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The maximum aggregate offering price for the offering that is being registered.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_MaxAggtOfferingPric</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>ffd:nonNegative100TMonetary2ItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_OfferingNote">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingNote</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_OfferingSctyTitl">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The title of the class of securities being registered (for each class being registered).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingSctyTitl</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>ffd:securityTitleItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_OfferingSctyTp">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Type of securities: "Asset-backed Securities", "ADRs/ADSs", "Debt", "Debt Convertible into Equity", "Equity", "Face Amount Certificates", "Limited Partnership Interests", "Mortgage Backed Securities", "Non-Convertible Debt", "Unallocated (Universal) Shelf", "Exchange Traded Vehicle Securities", "Other"</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingSctyTp</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>ffd:securityTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_OfferingTable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingTable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_PrevslyPdFlg">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_PrevslyPdFlg</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_Rule457rFlg">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br> -Section 457<br> -Subsection r<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_Rule457rFlg</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_OfferingAxis=1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingAxis=1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>8
<FILENAME>R3.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.26.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Fees Summary<br></strong></div></th>
<th class="th">
<div>Jun. 01, 2026 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_FeesSummaryLineItems', window );"><strong>Fees Summary [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_TtlOfferingAmt', window );">Total Offering</a></td>
<td class="nump">$ 400,000,000.00<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_TtlPrevslyPdAmt', window );">Previously Paid Amount</a></td>
<td class="nump">0.00<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_TtlFeeAmt', window );">Total Fee Amount</a></td>
<td class="nump">55,240.00<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_TtlOffsetAmt', window );">Total Offset Amount</a></td>
<td class="nump">0.00<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_NetFeeAmt', window );">Net Fee</a></td>
<td class="nump">55,240.00<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_NrrtvMaxAggtOfferingPric', window );">Narrative - Max Aggregate Offering Price</a></td>
<td class="nump">$ 400,000,000.00<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingTableNa', window );">Offering Table N/A</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OffsetTableNa', window );">Offset Table N/A</a></td>
<td class="text">N/A<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_CombinedProspectusTableNa', window );">Combined Prospectus Table N/A</a></td>
<td class="text">N/A<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_FnlPrspctsFlg', window );">Final Prospectus</a></td>
<td class="text">true<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_CombinedProspectusTableNa">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_CombinedProspectusTableNa</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>ffd:naItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_FeesSummaryLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_FeesSummaryLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_FnlPrspctsFlg">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_FnlPrspctsFlg</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_NetFeeAmt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_NetFeeAmt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_NrrtvMaxAggtOfferingPric">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_NrrtvMaxAggtOfferingPric</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>ffd:nonNegative100TMonetary2ItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_OfferingTableNa">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingTableNa</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>ffd:naItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_OffsetTableNa">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OffsetTableNa</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>ffd:naItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_TtlFeeAmt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_TtlFeeAmt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>ffd:nonNegative1TMonetary2ItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_TtlOfferingAmt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_TtlOfferingAmt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>ffd:nonNegative1TMonetary2ItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_TtlOffsetAmt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_TtlOffsetAmt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>ffd:nonNegative1TMonetary2ItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_TtlPrevslyPdAmt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_TtlPrevslyPdAmt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>ffd:nonNegative1TMonetary2ItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>9
<FILENAME>report.css
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
/* Updated 2009-11-04 */
/* v2.2.0.24 */

/* DefRef Styles */
.report table.authRefData{
	background-color: #def;
	border: 2px solid #2F4497;
	font-size: 1em;
	position: absolute;
}

.report table.authRefData a {
	display: block;
	font-weight: bold;
}

.report table.authRefData p {
	margin-top: 0px;
}

.report table.authRefData .hide {
	background-color: #2F4497;
	padding: 1px 3px 0px 0px;
	text-align: right;
}

.report table.authRefData .hide a:hover {
	background-color: #2F4497;
}

.report table.authRefData .body {
	height: 150px;
	overflow: auto;
	width: 400px;
}

.report table.authRefData table{
	font-size: 1em;
}

/* Report Styles */
.pl a, .pl a:visited {
	color: black;
	text-decoration: none;
}

/* table */
.report {
	background-color: white;
	border: 2px solid #acf;
	clear: both;
	color: black;
	font: normal 8pt Helvetica, Arial, san-serif;
	margin-bottom: 2em;
}

.report hr {
	border: 1px solid #acf;
}

/* Top labels */
.report th {
	background-color: #acf;
	color: black;
	font-weight: bold;
	text-align: center;
}

.report th.void	{
	background-color: transparent;
	color: #000000;
	font: bold 10pt Helvetica, Arial, san-serif;
	text-align: left;
}

.report .pl {
	text-align: left;
	vertical-align: top;
	white-space: normal;
	width: 200px;
	white-space: normal; /* word-wrap: break-word; */
}

.report td.pl a.a {
	cursor: pointer;
	display: block;
	width: 200px;
	overflow: hidden;
}

.report td.pl div.a {
	width: 200px;
}

.report td.pl a:hover {
	background-color: #ffc;
}

/* Header rows... */
.report tr.rh {
	background-color: #acf;
	color: black;
	font-weight: bold;
}

/* Calendars... */
.report .rc {
	background-color: #f0f0f0;
}

/* Even rows... */
.report .re, .report .reu {
	background-color: #def;
}

.report .reu td {
	border-bottom: 1px solid black;
}

/* Odd rows... */
.report .ro, .report .rou {
	background-color: white;
}

.report .rou td {
	border-bottom: 1px solid black;
}

.report .rou table td, .report .reu table td {
	border-bottom: 0px solid black;
}

/* styles for footnote marker */
.report .fn {
	white-space: nowrap;
}

/* styles for numeric types */
.report .num, .report .nump {
	text-align: right;
	white-space: nowrap;
}

.report .nump {
	padding-left: 2em;
}

.report .nump {
	padding: 0px 0.4em 0px 2em;
}

/* styles for text types */
.report .text {
	text-align: left;
	white-space: normal;
}

.report .text .big {
	margin-bottom: 1em;
	width: 17em;
}

.report .text .more {
	display: none;
}

.report .text .note {
	font-style: italic;
	font-weight: bold;
}

.report .text .small {
	width: 10em;
}

.report sup {
	font-style: italic;
}

.report .outerFootnotes {
	font-size: 1em;
}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>10
<FILENAME>Show.js
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
// Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission.  Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105.
var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0);
e.removeAttribute('id');a.parentNode.appendChild(e)}}
if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'}
e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>12
<FILENAME>FilingSummary.xml
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<XML>
<?xml version='1.0' encoding='utf-8'?>
<FilingSummary>
  <Version>3.26.1</Version>
  <ProcessingTime/>
  <ReportFormat>html</ReportFormat>
  <ContextCount>2</ContextCount>
  <ElementCount>24</ElementCount>
  <EntityCount>1</EntityCount>
  <FootnotesReported>false</FootnotesReported>
  <SegmentCount>1</SegmentCount>
  <ScenarioCount>0</ScenarioCount>
  <TuplesReported>false</TuplesReported>
  <UnitCount>2</UnitCount>
  <MyReports>
    <Report instance="d111323dexfilingfees.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R1.htm</HtmlFileName>
      <LongName>995210 - Document - Submission</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://xbrl.sec.gov/ffd/role/document/submissionTable</Role>
      <ShortName>Submission</ShortName>
      <MenuCategory>Cover</MenuCategory>
      <Position>1</Position>
    </Report>
    <Report instance="d111323dexfilingfees.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R2.htm</HtmlFileName>
      <LongName>995211 - Document - Offerings</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://xbrl.sec.gov/ffd/role/document/feesOfferingTable</Role>
      <ShortName>Offerings</ShortName>
      <MenuCategory>Cover</MenuCategory>
      <Position>2</Position>
    </Report>
    <Report instance="d111323dexfilingfees.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R3.htm</HtmlFileName>
      <LongName>995215 - Document - Fees Summary</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://xbrl.sec.gov/ffd/role/document/feesSummaryTable</Role>
      <ShortName>Fees Summary</ShortName>
      <MenuCategory>Cover</MenuCategory>
      <Position>3</Position>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <LongName>All Reports</LongName>
      <ReportType>Book</ReportType>
      <ShortName>All Reports</ShortName>
    </Report>
  </MyReports>
  <InputFiles>
    <File doctype="EX-FILING FEES" original="d111323dexfilingfees.htm">d111323dexfilingfees.htm</File>
  </InputFiles>
  <SupplementalFiles/>
  <BaseTaxonomies>
    <BaseTaxonomy items="3">http://xbrl.sec.gov/dei/2026</BaseTaxonomy>
    <BaseTaxonomy items="23">http://xbrl.sec.gov/ffd/2026</BaseTaxonomy>
  </BaseTaxonomies>
  <HasPresentationLinkbase>false</HasPresentationLinkbase>
  <HasCalculationLinkbase>false</HasCalculationLinkbase>
</FilingSummary>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>JSON
<SEQUENCE>15
<FILENAME>MetaLinks.json
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
{
 "version": "2.2",
 "instance": {
  "d111323dexfilingfees.htm": {
   "dts": {
    "inline": {
     "local": [
      "d111323dexfilingfees.htm"
     ]
    },
    "schema": {
     "remote": [
      "http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd",
      "http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd",
      "http://www.xbrl.org/2003/xl-2003-12-31.xsd",
      "http://www.xbrl.org/2003/xlink-2003-12-31.xsd",
      "http://www.xbrl.org/2005/xbrldt-2005.xsd",
      "http://www.xbrl.org/lrr/arcrole/deprecated-2009-12-16.xsd",
      "https://www.xbrl.org/dtr/type/2024-01-31/types.xsd",
      "https://xbrl.sec.gov/dei/2026/dei-2026.xsd",
      "https://xbrl.sec.gov/ffd/2026/ffd-2026.xsd"
     ]
    }
   },
   "keyStandard": 24,
   "keyCustom": 0,
   "axisStandard": 1,
   "axisCustom": 0,
   "memberStandard": 1,
   "memberCustom": 0,
   "hidden": {
    "total": 9,
    "http://xbrl.sec.gov/ffd/2026": 7,
    "http://xbrl.sec.gov/dei/2026": 2
   },
   "contextCount": 2,
   "entityCount": 1,
   "segmentCount": 1,
   "elementCount": 107,
   "unitCount": 2,
   "baseTaxonomies": {
    "http://xbrl.sec.gov/ffd/2026": 23,
    "http://xbrl.sec.gov/dei/2026": 3
   },
   "report": {
    "R1": {
     "role": "http://xbrl.sec.gov/ffd/role/document/submissionTable",
     "longName": "995210 - Document - Submission",
     "shortName": "Submission",
     "isDefault": "true",
     "groupType": "Fee_Exhibit",
     "subGroupType": "",
     "menuCat": "Cover",
     "order": "1",
     "firstAnchor": null,
     "uniqueAnchor": null
    },
    "R2": {
     "role": "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable",
     "longName": "995211 - Document - Offerings",
     "shortName": "Offerings",
     "isDefault": "false",
     "groupType": "Fee_Exhibit",
     "subGroupType": "",
     "menuCat": "Cover",
     "order": "2",
     "firstAnchor": {
      "contextRef": "offrl_1",
      "name": "ffd:PrevslyPdFlg",
      "unitRef": null,
      "xsiNil": "false",
      "lang": "en-US",
      "decimals": null,
      "ancestors": [
       "td",
       "tr",
       "table",
       "div",
       "body",
       "html"
      ],
      "reportCount": 1,
      "baseRef": "d111323dexfilingfees.htm",
      "first": true,
      "unique": true
     },
     "uniqueAnchor": {
      "contextRef": "offrl_1",
      "name": "ffd:PrevslyPdFlg",
      "unitRef": null,
      "xsiNil": "false",
      "lang": "en-US",
      "decimals": null,
      "ancestors": [
       "td",
       "tr",
       "table",
       "div",
       "body",
       "html"
      ],
      "reportCount": 1,
      "baseRef": "d111323dexfilingfees.htm",
      "first": true,
      "unique": true
     }
    },
    "R3": {
     "role": "http://xbrl.sec.gov/ffd/role/document/feesSummaryTable",
     "longName": "995215 - Document - Fees Summary",
     "shortName": "Fees Summary",
     "isDefault": "false",
     "groupType": "Fee_Exhibit",
     "subGroupType": "",
     "menuCat": "Cover",
     "order": "3",
     "firstAnchor": {
      "contextRef": "rc",
      "name": "ffd:TtlOfferingAmt",
      "unitRef": "USD",
      "xsiNil": "false",
      "lang": null,
      "decimals": "2",
      "ancestors": [
       "p",
       "td",
       "tr",
       "table",
       "div",
       "body",
       "html"
      ],
      "reportCount": 1,
      "baseRef": "d111323dexfilingfees.htm",
      "first": true,
      "unique": true
     },
     "uniqueAnchor": {
      "contextRef": "rc",
      "name": "ffd:TtlOfferingAmt",
      "unitRef": "USD",
      "xsiNil": "false",
      "lang": null,
      "decimals": "2",
      "ancestors": [
       "p",
       "td",
       "tr",
       "table",
       "div",
       "body",
       "html"
      ],
      "reportCount": 1,
      "baseRef": "d111323dexfilingfees.htm",
      "first": true,
      "unique": true
     }
    }
   },
   "tag": {
    "ffd_AggtRedRpPricFsclYr": {
     "xbrltype": "nonNegative1TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "AggtRedRpPricFsclYr",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/securities424iTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Aggregate Redeemed or Repurchased Price, Fiscal Year",
        "terseLabel": "Aggregate Redeemed or Repurchased, FY"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_AggtRedRpPricPrrFsclYr": {
     "xbrltype": "nonNegative1TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "AggtRedRpPricPrrFsclYr",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/securities424iTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Aggregate Redeemed or Repurchased Price, Prior Fiscal Year",
        "terseLabel": "Aggregate Redeemed or Repurchased, Prior FY"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_AggtSalesPricFsclYr": {
     "xbrltype": "nonNegative1TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "AggtSalesPricFsclYr",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/securities424iTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Aggregate Sales Price, Fiscal Year",
        "terseLabel": "Aggregate Sales Price"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_AmtRedCdts": {
     "xbrltype": "nonNegative1TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "AmtRedCdts",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/securities424iTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Amount of Redemption Credits",
        "terseLabel": "Redemption Credits"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_AmtSctiesRcvd": {
     "xbrltype": "nonNegativeDecimal2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "AmtSctiesRcvd",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Amount of Securities Received",
        "terseLabel": "Amount of Securities Received",
        "documentation": "Amount of securities to be received by the registrant (or cancelled upon issuance of securities to be registered on the form)"
       }
      }
     },
     "auth_ref": [
      "r6"
     ]
    },
    "ffd_AmtSctiesRegd": {
     "xbrltype": "nonNegativeDecimal2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "AmtSctiesRegd",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Amount of Securities Registered",
        "terseLabel": "Amount Registered",
        "documentation": "The amount of securities being registered."
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_CeasedOprsDt": {
     "xbrltype": "dateItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "CeasedOprsDt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/submissionTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Ceased Operations Date",
        "terseLabel": "Ceased Operations Date"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_CfwdFormTp": {
     "xbrltype": "formTypeItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "CfwdFormTp",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Carry Forward Form Type",
        "terseLabel": "Carry Forward Form Type",
        "documentation": "The Form Type of the prior shelf registration statement from which unsold securities are carried forward under 415(a)(6). This should be an EDGAR submission type (S-3, S-3/A, S-3ASR, etc.), which means there is a fixed set of possible responses. Note that while the XBRL response should be an EDGAR submission type, the human-readable Ex. 107 could include a simpler label (e.g., \"Form S-3\" in the human-readable and \"S-3ASR\" in the XBRL)."
       }
      }
     },
     "auth_ref": [
      "r2"
     ]
    },
    "ffd_CfwdPrevslyPdFee": {
     "xbrltype": "nonNegative1TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "CfwdPrevslyPdFee",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Carry Forward Previously Paid Fee",
        "terseLabel": "Filing Fee Previously Paid in Connection with Unsold Securities to be Carried Forward",
        "documentation": "The fee previously paid in connection with the securities being brought forward from the prior shelf registration statement on which unsold securities are carried forward under 415(a)(6)."
       }
      }
     },
     "auth_ref": [
      "r2"
     ]
    },
    "ffd_CfwdPrrFctvDt": {
     "xbrltype": "dateItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "CfwdPrrFctvDt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Carry Forward Prior Effective Date",
        "terseLabel": "Carry Forward Initial Effective Date",
        "documentation": "The initial effective date of the prior shelf registration statement from which unsold securities are carried forward under 415(a)(6)."
       }
      }
     },
     "auth_ref": [
      "r2"
     ]
    },
    "ffd_CfwdPrrFileNb": {
     "xbrltype": "fileNumberItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "CfwdPrrFileNb",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Carry Forward File Number",
        "terseLabel": "Carry Forward File Number",
        "documentation": "The EDGAR File Number of the prior shelf registration statement from which unsold securities are carried forward under 415(a)(6). If the prior registration statement has a Securities Act File Number and an Investment Company Act File Number, the Securities Act File Number should be used."
       }
      }
     },
     "auth_ref": [
      "r2"
     ]
    },
    "ffd_CmbndPrspctsItemAxis": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "CmbndPrspctsItemAxis",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesByCmbndPrspctsTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Combined Prospectus Item [Axis]",
        "terseLabel": "Combined Prospectus",
        "documentation": "A sequence number (1, 2, 3...) used to distinguish different references to earlier prospectuses on a single fee bearing submission."
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_CmbndPrspctsLineItems": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "CmbndPrspctsLineItems",
     "lang": {
      "en-us": {
       "role": {
        "label": "Combined Prospectus [Line Items]",
        "terseLabel": "Combined Prospectus:"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_CmbndPrspctsTable": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "CmbndPrspctsTable",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesByCmbndPrspctsTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Combined Prospectus [Table]",
        "terseLabel": "Combined Prospectus Table"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_CombinedProspectusTableNa": {
     "xbrltype": "naItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "CombinedProspectusTableNa",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesSummaryTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Combined Prospectus Table [N/A]",
        "terseLabel": "Combined Prospectus Table N/A"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_CshPdByRegistrantInTx": {
     "xbrltype": "nonNegative100TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "CshPdByRegistrantInTx",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Cash Paid by Registrant in Transaction",
        "terseLabel": "Cash Consideration Paid",
        "documentation": "Amount of cash consideration paid by registrant in connection with the exchange or other transaction being registered (in a 457(f) calculation)."
       }
      }
     },
     "auth_ref": [
      "r12"
     ]
    },
    "ffd_CshRcvdByRegistrantInTx": {
     "xbrltype": "nonNegative100TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "CshRcvdByRegistrantInTx",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Cash Received by Registrant in Transaction",
        "terseLabel": "Cash Consideration Received",
        "documentation": "Amount of cash consideration received by registrant in connection with the exchange or other transaction being registered (in a 457(f) calculation)."
       }
      }
     },
     "auth_ref": [
      "r12"
     ]
    },
    "dei_EntityCentralIndexKey": {
     "xbrltype": "centralIndexKeyItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2026",
     "localname": "EntityCentralIndexKey",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/submissionTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Central Index Key",
        "terseLabel": "Central Index Key",
        "documentation": "A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK."
       }
      }
     },
     "auth_ref": [
      "r0"
     ]
    },
    "dei_EntityRegistrantName": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2026",
     "localname": "EntityRegistrantName",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/submissionTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Registrant Name",
        "terseLabel": "Registrant Name",
        "documentation": "The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC."
       }
      }
     },
     "auth_ref": [
      "r0"
     ]
    },
    "ffd_FeeAmt": {
     "xbrltype": "nonNegative1TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "FeeAmt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable",
      "http://xbrl.sec.gov/ffd/role/document/securities424iTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Fee Amount",
        "terseLabel": "Amount of Registration Fee",
        "documentation": "Total amount of registration fee (amount due after offsets)."
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_FeeExhibitTp": {
     "xbrltype": "feeExhibitTypeItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "FeeExhibitTp",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/submissionTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Fee Exhibit Type",
        "terseLabel": "Fee Exhibit Type"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_FeeIntrstAmt": {
     "xbrltype": "nonNegative1TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "FeeIntrstAmt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesSummaryTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Fee Interest Amount",
        "terseLabel": "Interest Amount"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_FeeNote": {
     "xbrltype": "textBlockItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "FeeNote",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/securities424iTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Fee Note",
        "terseLabel": "Fee Note"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_FeeNoteMaxAggtOfferingPric": {
     "xbrltype": "nonNegative100TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "FeeNoteMaxAggtOfferingPric",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Fee Note Maximum Aggregate Offering Price",
        "terseLabel": "Fee Note MAOP"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_FeeRate": {
     "xbrltype": "percentItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "FeeRate",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable",
      "http://xbrl.sec.gov/ffd/role/document/securities424iTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Fee Rate",
        "terseLabel": "Fee Rate",
        "documentation": "The rate per dollar of fees that public companies and other issuers pay to register their securities with the Commission."
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_FeesOthrRuleFlg": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "FeesOthrRuleFlg",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Fees, Other Rule [Flag]",
        "terseLabel": "Other Rule",
        "documentation": "Checkbox indicating whether filer is using a rule other than 457(a), 457(o), or 457(f) to calculate the registration fee due."
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_FeesSummaryLineItems": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "FeesSummaryLineItems",
     "lang": {
      "en-us": {
       "role": {
        "label": "Fees Summary [Line Items]",
        "terseLabel": "Fees Summary:"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_FnlPrspctsFlg": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "FnlPrspctsFlg",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesSummaryTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Final Prospectus [Flag]",
        "terseLabel": "Final Prospectus"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_FormTp": {
     "xbrltype": "submissionTypeItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "FormTp",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/submissionTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Form Type",
        "terseLabel": "Form Type"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_GnlInstrIIhiFlg": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "GnlInstrIIhiFlg",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "General Instruction II.H,I [Flag]",
        "terseLabel": "General Instruction II.H,I"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_IssrBizAdrCity": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "IssrBizAdrCity",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/submissionTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Issuer Business Address, City",
        "terseLabel": "City"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_IssrBizAdrStatOrCtryCd": {
     "xbrltype": "stateOrCountryCodeItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "IssrBizAdrStatOrCtryCd",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/submissionTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Issuer Business Address, State or Country Code",
        "terseLabel": "State or Country Code"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_IssrBizAdrStrt1": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "IssrBizAdrStrt1",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/submissionTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Issuer Business Address, Street 1",
        "terseLabel": "Street 1"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_IssrBizAdrStrt2": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "IssrBizAdrStrt2",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/submissionTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Issuer Business Address, Street 2",
        "terseLabel": "Street 2"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_IssrBizAdrZipCd": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "IssrBizAdrZipCd",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/submissionTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Issuer Business Address, Zip Code",
        "terseLabel": "Zip Code"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_IssrNm": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "IssrNm",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/submissionTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Issuer Name",
        "terseLabel": "Issuer Name"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_MaxAggtOfferingPric": {
     "xbrltype": "nonNegative100TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "MaxAggtOfferingPric",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Maximum Aggregate Offering Price",
        "terseLabel": "Maximum Aggregate Offering Price",
        "documentation": "The maximum aggregate offering price for the offering that is being registered."
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_MaxOfferingPricPerScty": {
     "xbrltype": "nonNegativeDecimal4lItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "MaxOfferingPricPerScty",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Maximum Offering Price per Security",
        "terseLabel": "Proposed Maximum Offering Price per Unit",
        "documentation": "The maximum offering price per share/unit being registered."
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_NetFeeAmt": {
     "xbrltype": "monetaryItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "NetFeeAmt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesSummaryTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Net Fee Amount",
        "terseLabel": "Net Fee"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_NetSalesAmt": {
     "xbrltype": "nonNegative1TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "NetSalesAmt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/securities424iTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Net Sales Amount",
        "terseLabel": "Net Sales"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_NrrtvDsclsr": {
     "xbrltype": "textBlockItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "NrrtvDsclsr",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesSummaryTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Narrative Disclosure",
        "terseLabel": "Narrative Disclosure"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_NrrtvMaxAggtAmt": {
     "xbrltype": "nonNegativeDecimal2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "NrrtvMaxAggtAmt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesSummaryTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Narrative Disclosure, Maximum Aggregate Offering Amount",
        "terseLabel": "Narrative - Max Aggregate Offering Amount"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_NrrtvMaxAggtOfferingPric": {
     "xbrltype": "nonNegative100TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "NrrtvMaxAggtOfferingPric",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesSummaryTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Narrative Disclosure, Maximum Aggregate Offering Price",
        "terseLabel": "Narrative - Max Aggregate Offering Price"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_OfferingAxis": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "OfferingAxis",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offering [Axis]",
        "terseLabel": "Offering",
        "documentation": "A sequence number (1, 2, 3...) used to distinguish different security offerings on a single fee bearing submission."
       }
      }
     },
     "auth_ref": []
    },
    "ffd_OfferingLineItems": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "OfferingLineItems",
     "lang": {
      "en-us": {
       "role": {
        "label": "Offering [Line Items]",
        "terseLabel": "Offering:"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_OfferingNote": {
     "xbrltype": "textBlockItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "OfferingNote",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offering Note",
        "terseLabel": "Offering Note"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_OfferingSctyTitl": {
     "xbrltype": "securityTitleItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "OfferingSctyTitl",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable",
      "http://xbrl.sec.gov/ffd/role/document/securities424iTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offering Security Title",
        "terseLabel": "Security Class Title",
        "documentation": "The title of the class of securities being registered (for each class being registered)."
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_OfferingSctyTp": {
     "xbrltype": "securityTypeItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "OfferingSctyTp",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offering Security Type",
        "terseLabel": "Security Type",
        "documentation": "Type of securities: \"Asset-backed Securities\", \"ADRs/ADSs\", \"Debt\", \"Debt Convertible into Equity\", \"Equity\", \"Face Amount Certificates\", \"Limited Partnership Interests\", \"Mortgage Backed Securities\", \"Non-Convertible Debt\", \"Unallocated (Universal) Shelf\", \"Exchange Traded Vehicle Securities\", \"Other\""
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_OfferingTable": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "OfferingTable",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offering [Table]",
        "terseLabel": "Offering:"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_OfferingTableNa": {
     "xbrltype": "naItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "OfferingTableNa",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesSummaryTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offering Table [N/A]",
        "terseLabel": "Offering Table N/A"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_OffsetAxis": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "OffsetAxis",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offset [Axis]",
        "terseLabel": "Offset",
        "documentation": "A sequence number (1, 2, 3...) used to distinguish different offsets as applied to a fee bearing submission."
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_OffsetClmInitlFilgDt": {
     "xbrltype": "dateItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "OffsetClmInitlFilgDt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offset Claim Initial Filing Date",
        "terseLabel": "Initial Filing Date",
        "documentation": "The initial filing date of the earlier registration statement with which the earlier (offsetting) fee was paid for a claimed offset. If the offset fee was paid with an amendment, do not provide the amendment date under this element; instead, provide the date of the initial filing (i.e. the \"parent\" filing) ."
       }
      }
     },
     "auth_ref": [
      "r5",
      "r8"
     ]
    },
    "ffd_OffsetClmdAmt": {
     "xbrltype": "nonNegative1TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "OffsetClmdAmt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offset Claimed Amount",
        "terseLabel": "Fee Offset Claimed",
        "documentation": "The amount of offsetting fees being claimed."
       }
      }
     },
     "auth_ref": [
      "r5",
      "r8"
     ]
    },
    "ffd_OffsetClmdInd": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "OffsetClmdInd",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offset Claimed Indicator",
        "terseLabel": "Offset Claimed"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_OffsetExpltnForClmdAmt": {
     "xbrltype": "textBlockItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "OffsetExpltnForClmdAmt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offset Explanation for Claimed Amount",
        "terseLabel": "Explanation for Claimed Amount"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_OffsetLineItems": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "OffsetLineItems",
     "lang": {
      "en-us": {
       "role": {
        "terseLabel": "Offset:",
        "label": "Offset [Line Items]"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_OffsetNote": {
     "xbrltype": "textBlockItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "OffsetNote",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offset Note",
        "terseLabel": "Offset Note"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_OffsetPrrFeeAmt": {
     "xbrltype": "nonNegative1TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "OffsetPrrFeeAmt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offset Prior Fee Amount",
        "terseLabel": "Fee Paid with Fee Offset Source",
        "documentation": "The fee previously paid from which an offset is being derived."
       }
      }
     },
     "auth_ref": [
      "r5",
      "r8"
     ]
    },
    "ffd_OffsetPrrFileNb": {
     "xbrltype": "fileNumberItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "OffsetPrrFileNb",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offset Prior File Number",
        "terseLabel": "File Number",
        "documentation": "The EDGAR File Number of the earlier registration statement with which the earlier (offsetting) fee was paid. If the offset filing for the offset has a Securities Act File Number and an Investment Company Act File Number, the Securities Act File Number should be used."
       }
      }
     },
     "auth_ref": [
      "r5",
      "r8"
     ]
    },
    "ffd_OffsetPrrFilerNm": {
     "xbrltype": "filerNameItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "OffsetPrrFilerNm",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offset Prior Filer Name",
        "terseLabel": "Registrant or Filer Name",
        "documentation": "The name of the registrant that filed the earlier registration statement with which the earlier (offsetting) fee was paid."
       }
      }
     },
     "auth_ref": [
      "r5",
      "r8"
     ]
    },
    "ffd_OffsetPrrFormTp": {
     "xbrltype": "formTypeItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "OffsetPrrFormTp",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offset Prior Form Type",
        "terseLabel": "Form or Filing Type",
        "documentation": "The Form Type of the offset filing."
       }
      }
     },
     "auth_ref": [
      "r5",
      "r8"
     ]
    },
    "ffd_OffsetPrrNbOfUnsoldScties": {
     "xbrltype": "nonNegativeDecimal8ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "OffsetPrrNbOfUnsoldScties",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offset Prior Unsold Number of Securities",
        "terseLabel": "Unsold Securities Associated with Fee Offset Claimed",
        "documentation": "The number of unsold securities registered on the prior registration statement that are associated with the claimed offset."
       }
      }
     },
     "auth_ref": [
      "r5",
      "r8"
     ]
    },
    "ffd_OffsetPrrSctyTitl": {
     "xbrltype": "securityTitleItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "OffsetPrrSctyTitl",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offset Prior Security Title",
        "terseLabel": "Security Title Associated with Fee Offset Claimed",
        "documentation": "The title of the class of securities from which offset fees were derived."
       }
      }
     },
     "auth_ref": [
      "r5",
      "r8"
     ]
    },
    "ffd_OffsetPrrSctyTp": {
     "xbrltype": "securityTypeItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "OffsetPrrSctyTp",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offset Prior Security Type",
        "terseLabel": "Security Type Associated with Fee Offset Claimed",
        "documentation": "Type of securities: \"Asset-backed Securities\", \"ADRs/ADSs\", \"Debt\", \"Debt Convertible into Equity\", \"Equity\", \"Face Amount Certificates\", \"Limited Partnership Interests\", \"Mortgage Backed Securities\", \"Non-Convertible Debt\", \"Unallocated (Universal) Shelf\", \"Exchange Traded Vehicle Securities\", \"Other\""
       }
      }
     },
     "auth_ref": [
      "r5",
      "r8"
     ]
    },
    "ffd_OffsetPrrUnsoldOfferingAmt": {
     "xbrltype": "nonNegative1TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "OffsetPrrUnsoldOfferingAmt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offset Prior Unsold Offering Amount",
        "terseLabel": "Unsold Aggregate Offering Amount Associated with Fee Offset Claimed",
        "documentation": "The aggregate offering amount of unsold securities registered on the prior registration statement that are associated with the claimed offset."
       }
      }
     },
     "auth_ref": [
      "r5",
      "r8"
     ]
    },
    "ffd_OffsetSrcFilgDt": {
     "xbrltype": "dateItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "OffsetSrcFilgDt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offset Source Filing Date",
        "terseLabel": "Filing Date",
        "documentation": "The filing date of the earlier registration statement with which the earlier (offsetting) fee was paid in an offset."
       }
      }
     },
     "auth_ref": [
      "r5",
      "r8"
     ]
    },
    "ffd_OffsetTable": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "OffsetTable",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "terseLabel": "Offset Payment:",
        "label": "Offset [Table]"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_OffsetTableNa": {
     "xbrltype": "naItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "OffsetTableNa",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesSummaryTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offset Table [N/A]",
        "terseLabel": "Offset Table N/A"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_PrevslyPdFlg": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "PrevslyPdFlg",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable",
      "http://xbrl.sec.gov/ffd/role/document/securities424iTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Fee Previously Paid [Flag]",
        "terseLabel": "Fee Previously Paid"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_RegnFileNb": {
     "xbrltype": "fileNumberItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "RegnFileNb",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/submissionTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Registration File Number",
        "terseLabel": "Registration File Number"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_RptgFsclYrEndDt": {
     "xbrltype": "dateItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "RptgFsclYrEndDt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/submissionTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Reporting Fiscal Year End Date",
        "terseLabel": "Reporting FY End Date"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_Rule011Flg": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "Rule011Flg",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 0-11 [Flag]",
        "terseLabel": "Rule 0-11"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_Rule011a2OffsetFlg": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "Rule011a2OffsetFlg",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "terseLabel": "Rule 0-11(a)(2) Offset",
        "label": "Rule 0-11(a)(2) Offset [Flag]"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_Rule415a6Flg": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "Rule415a6Flg",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 415(a)(6) [Flag]",
        "terseLabel": "Rule 415(a)(6)",
        "documentation": "Checkbox indicating whether filer is claiming a 415(a)(6) carryforward."
       }
      }
     },
     "auth_ref": [
      "r2"
     ]
    },
    "ffd_Rule429AggtOfferingAmt": {
     "xbrltype": "nonNegative100TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "Rule429AggtOfferingAmt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesByCmbndPrspctsTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 429 Aggregate Offering Amount",
        "terseLabel": "Maximum Aggregate Offering Price of Securities Previously Registered",
        "documentation": "The maximum aggregate offering amount of unsold securities registered on the prior registration statement that are carried forward under Rule 429. Only applicable if 457(o) was used in the fee calculation for the prior registration statement."
       }
      }
     },
     "auth_ref": [
      "r3"
     ]
    },
    "ffd_Rule429CmbndPrspctsFlg": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "Rule429CmbndPrspctsFlg",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesByCmbndPrspctsTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 429 Combined Prospectus [Flag]",
        "terseLabel": "Rule 429",
        "documentation": "Checkbox indicating whether filer is using a combined prospectus under Rule 429."
       }
      }
     },
     "auth_ref": [
      "r3"
     ]
    },
    "ffd_Rule429EarlierFileNb": {
     "xbrltype": "fileNumberItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "Rule429EarlierFileNb",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesByCmbndPrspctsTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 429 Earlier File Number",
        "terseLabel": "File Number",
        "documentation": "The Securities Act File Number of the earlier effective registration statement(s) from which securities may be offered and sold using the combined prospectus pursuant to Rule 429."
       }
      }
     },
     "auth_ref": [
      "r3"
     ]
    },
    "ffd_Rule429EarlierFormTp": {
     "xbrltype": "formTypeItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "Rule429EarlierFormTp",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesByCmbndPrspctsTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 429 Earlier Form Type",
        "terseLabel": "Form Type",
        "documentation": "The Form Type of the earlier registration statement from which unsold securities are carried forward under Rule 429. This should be an EDGAR submission type (S-3, S-3/A, S-3ASR, etc.), which means there is a fixed set of possible responses. Note that while the XBRL response should be an EDGAR submission type, the human-readable Ex. 107 could include a simpler label (e.g., \"Form S-3\" in the human-readable and \"S-3ASR\" in the XBRL)."
       }
      }
     },
     "auth_ref": [
      "r3"
     ]
    },
    "ffd_Rule429InitlFctvDt": {
     "xbrltype": "dateItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "Rule429InitlFctvDt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesByCmbndPrspctsTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 429 Initial Effective Date",
        "terseLabel": "Initial Effective Date",
        "documentation": "The filing date of the earlier registration statement from which unsold securities are carried forward under Rule 429."
       }
      }
     },
     "auth_ref": [
      "r3"
     ]
    },
    "ffd_Rule429NbOfUnsoldScties": {
     "xbrltype": "nonNegativeDecimal2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "Rule429NbOfUnsoldScties",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesByCmbndPrspctsTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 429 Number Of Unsold Securities",
        "terseLabel": "Amount of Securities Previously Registered",
        "documentation": "The number of securities registered on the prior registration statement that are carried forward under Rule 429."
       }
      }
     },
     "auth_ref": [
      "r3"
     ]
    },
    "ffd_Rule429PrspctsNote": {
     "xbrltype": "textBlockItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "Rule429PrspctsNote",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesByCmbndPrspctsTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 429 Prospectus Note",
        "terseLabel": "Combined Prospectus Note"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_Rule429SctyTitl": {
     "xbrltype": "securityTitleItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "Rule429SctyTitl",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesByCmbndPrspctsTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 429 Security Title",
        "terseLabel": "Security Class Title"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_Rule429SctyTp": {
     "xbrltype": "securityTypeItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "Rule429SctyTp",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesByCmbndPrspctsTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 429 Security Type",
        "terseLabel": "Security Type"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_Rule457aFlg": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "Rule457aFlg",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 457(a) [Flag]",
        "terseLabel": "Rule 457(a)",
        "documentation": "Checkbox indicating whether filer is using Rule 457(a) to calculate the registration fee due."
       }
      }
     },
     "auth_ref": [
      "r4"
     ]
    },
    "ffd_Rule457bOffsetFlg": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "Rule457bOffsetFlg",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 457(b) Offset [Flag]",
        "terseLabel": "Rule 457(b) Offset",
        "documentation": "Checkbox indicating whether filer is claiming an offset under Rule 457(b) or 0-11(a)(2)."
       }
      }
     },
     "auth_ref": [
      "r5"
     ]
    },
    "ffd_Rule457fFlg": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "Rule457fFlg",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 457(f) [Flag]",
        "terseLabel": "Rule 457(f)",
        "documentation": "Checkbox indicating whether filer is using Rule 457(f) to calculate the registration fee due."
       }
      }
     },
     "auth_ref": [
      "r6"
     ]
    },
    "ffd_Rule457oFlg": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "Rule457oFlg",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 457(o) [Flag]",
        "terseLabel": "Rule 457(o)",
        "documentation": "Checkbox indicating whether filer is using Rule 457(o) to calculate the registration fee due."
       }
      }
     },
     "auth_ref": [
      "r7"
     ]
    },
    "ffd_Rule457pOffsetFlg": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "Rule457pOffsetFlg",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 457(p) Offset [Flag]",
        "terseLabel": "Rule 457(p) Offset",
        "documentation": "Checkbox indicating whether filer is claiming an offset under Rule 457(p)."
       }
      }
     },
     "auth_ref": [
      "r8"
     ]
    },
    "ffd_Rule457rFlg": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "Rule457rFlg",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 457(r) [Flag]",
        "terseLabel": "Rule 457(r)"
       }
      }
     },
     "auth_ref": [
      "r9"
     ]
    },
    "ffd_Rule457sFlg": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "Rule457sFlg",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 457(s) Flag",
        "terseLabel": "Rule 457(s)"
       }
      }
     },
     "auth_ref": [
      "r10"
     ]
    },
    "ffd_Rule457uFlg": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "Rule457uFlg",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 457(u) [Flag]",
        "terseLabel": "Rule 457(u)",
        "documentation": "Checkbox indicating whether filer is using Rule 457(u) to calculate the registration fee due."
       }
      }
     },
     "auth_ref": [
      "r11"
     ]
    },
    "ffd_Scties424iAxis": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "Scties424iAxis",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/securities424iTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Securities, 424I [Axis]",
        "terseLabel": "Securities, 424I"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_Scties424iLineItems": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "Scties424iLineItems",
     "lang": {
      "en-us": {
       "role": {
        "label": "Securities, 424I [Line Items]",
        "terseLabel": "Securities, 424I:"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_Scties424iTable": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "Scties424iTable",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/securities424iTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Securities, 424I [Table]",
        "terseLabel": "Securities, 424I Table"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_Securities424iTableNa": {
     "xbrltype": "naItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "Securities424iNa",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesSummaryTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Securities 424I [N/A]",
        "terseLabel": "Securities 424I N/A"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_SubmissionLineItems": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "SubmissionLineItems",
     "lang": {
      "en-us": {
       "role": {
        "label": "Submission [Line Items]",
        "terseLabel": "Items"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_SubmissnTp": {
     "xbrltype": "submissionTypeItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "SubmissnTp",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/submissionTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Submission Type",
        "terseLabel": "Submission Type"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_TermntnCmpltnWdrwl": {
     "xbrltype": "textBlockItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "TermntnCmpltnWdrwl",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Termination / Completion / Withdrawal Statement",
        "terseLabel": "Termination / Withdrawal Statement"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_TtlFeeAmt": {
     "xbrltype": "nonNegative1TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "TtlFeeAmt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesSummaryTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Total Fee Amount",
        "terseLabel": "Total Fee Amount"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_TtlFeeAndIntrstAmt": {
     "xbrltype": "nonNegativeDecimal2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "TtlFeeAndIntrstAmt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesSummaryTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Total Fee and Interest Amount",
        "terseLabel": "Total Fee and Interest Amount"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_TtlOfferingAmt": {
     "xbrltype": "nonNegative1TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "TtlOfferingAmt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesSummaryTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Total Offering Amount",
        "terseLabel": "Total Offering"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_TtlOffsetAmt": {
     "xbrltype": "nonNegative1TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "TtlOffsetAmt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesSummaryTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Total Offset Amount",
        "terseLabel": "Total Offset Amount"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_TtlPrevslyPdAmt": {
     "xbrltype": "nonNegative1TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "TtlPrevslyPdAmt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesSummaryTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Total Previously Paid Amount",
        "terseLabel": "Previously Paid Amount"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_TtlTxValtn": {
     "xbrltype": "nonNegative100TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "TtlTxValtn",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesSummaryTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Total Transaction Valuation",
        "terseLabel": "Total Transaction Valuation"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_TxValtn": {
     "xbrltype": "nonNegative100TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "TxValtn",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Transaction Valuation",
        "terseLabel": "Transaction Valuation"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_ValSctiesRcvd": {
     "xbrltype": "nonNegative100TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "ValSctiesRcvd",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Value of Securities Received",
        "terseLabel": "Value of Securities Received",
        "documentation": "Value of securities to be received by the registrant (or cancelled upon issuance of securities to be registered on the form)"
       }
      }
     },
     "auth_ref": [
      "r6"
     ]
    },
    "ffd_ValSctiesRcvdPerShr": {
     "xbrltype": "nonNegativeDecimal4lItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "ValSctiesRcvdPerShr",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Value of Securities Received, Per Share",
        "terseLabel": "Value of Securities Received, Per Share",
        "documentation": "Value per share of securities to be received by the registrant (or cancelled upon issuance of securities to be registered on the form). This is included in the explanation of 457(f) fee calculation."
       }
      }
     },
     "auth_ref": [
      "r6"
     ]
    }
   }
  }
 },
 "std_ref": {
  "r0": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Exchange Act",
   "Number": "240",
   "Section": "12",
   "Subsection": "b-2"
  },
  "r1": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Securities Act",
   "Number": "230"
  },
  "r2": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Securities Act",
   "Number": "230",
   "Section": "415",
   "Subsection": "a"
  },
  "r3": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Securities Act",
   "Number": "230",
   "Section": "429"
  },
  "r4": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Securities Act",
   "Number": "230",
   "Section": "457"
  },
  "r5": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Securities Act",
   "Number": "230",
   "Section": "457",
   "Subsection": "b"
  },
  "r6": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Securities Act",
   "Number": "230",
   "Section": "457",
   "Subsection": "f"
  },
  "r7": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Securities Act",
   "Number": "230",
   "Section": "457",
   "Subsection": "o"
  },
  "r8": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Securities Act",
   "Number": "230",
   "Section": "457",
   "Subsection": "p"
  },
  "r9": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Securities Act",
   "Number": "230",
   "Section": "457",
   "Subsection": "r"
  },
  "r10": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Securities Act",
   "Number": "230",
   "Section": "457",
   "Subsection": "s"
  },
  "r11": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Securities Act",
   "Number": "230",
   "Section": "457",
   "Subsection": "u"
  },
  "r12": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Securities Act",
   "Number": "230",
   "Subsection": "f",
   "Section": "457"
  }
 }
}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>ZIP
<SEQUENCE>16
<FILENAME>0001193125-26-252423-xbrl.zip
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
begin 644 0001193125-26-252423-xbrl.zip
M4$L#!!0    ( ,)3PESFQF%Z9 L  -Q(   8    9#$Q,3,R,V1E>&9I;&EN
M9V9E97,N:'1M[1QK<]I(\OO^BBGMYF)7&1 O8V2;+:]CW[DV\::,4Y5O5T(:
M8"IZW<Q@\/WZZQZ]A0"!P?%>4KO)(JG5K^G73+?VXO>%ZY GR@7SO<OWS;K^
MGE#/\FWF32[?7PVO[^[>_S[XY6(J 0Q /7&I3:4,C$9C/I_7Y^VZSR>-9K_?
M;RP01@N!C(7#O&^K0?%I CKB#LN!XAT%W-+U=H-Y0IJ>1;/P=OI"%OBT$3Z,
M09GP.ZUF;QWR$")Y8;$*MHF, -OTZQ\/'U-P60Z?@C8D-STQ]KEK2E Q8NK6
M]%:M=9I!4A/4RB&"Z_K$?]J(YZS6;L9XEC2>EQ0?CTR1JE&PLO4!V&;CZZ>/
M0VM*7;-65+Y-"YJ/.84'\&XJU7ALEP/"@Q 0K8J:-OQ',NG0P<W7VNW=Q[O[
M?Y+;FYOA12.\^\M%(X0BY&+DV\\#<F&S)R+DLT,O-9N)P#&?#>+Y'M7@&5L8
M"$YY])O9-O7"WP!R/W,I9Q;Q3!=>!DZ,6U#H8Z 1R_<D7<@'.K[4N*41!MRS
MQ5.MW>EH@V&M?='(85B#<3@;N4P(;SW6KC;HM#I_=*OCO:7T9C%E(R;78P;%
M%C59E<0#G7BWS*'WHW4$>MJ@W6[76GW]M%M1+V <QHT'"_I\33TP9.?.L^GB
M3_J\CLZ9-M!U'4REUV[VMJ4#HC"!+B/OX<DZ,GUM<#WC(_0S\IG[ >6244&N
M?1[4JZONK_$8[GB31W,$^C/+"8;6R*TE8/!%PV/.I2;Y#,QX*[*"RJI$,Z"#
M^\95=3+7OCL"_=B@'Q%02\Y$)9*K7RLGWRAX+*>@)\A&5, UQB]#J*@$Q(A*
M(<:4(UT,,V)5G,$?-?Q17PA;B]Z3SP&()I@;.%1K1*1SY-2U\&<\O%1)RHB$
M54*"L,E]JFPNN60VWA@SRHEBF);&]NN[/_,67GP9V2K%#S;*?#NYA C-Y0=3
MT@&*6=/AWV;\9OHLY=5> 1L_2<@F=!HY\4O5X8_'W/EW\Q5T$@E&)R[<C*YM
MII;4_D3=$5"P&3Q3%4W..:\63""#&";0W^_] 0B?N8HDS6-+Y4]IONUUF7DL
M7)0OPP_I@KC4%#-.!U')8\##&$'\*,&(&);1!0"SC"_B"7YNB6XX-<'%5B$4
MZNDFE(V"GS:R!4 #*H6P7A@0J#(P]L2%PYS9<FJ0?O_=.1F#^FICTV4.%!)7
MG)G."?D7=9ZH9)9Y0@3475"@<3:.0 7[+S5(2P_D.4&]UTR'33R#6& .E)]K
MBAA7?]L0'QT1F&"('2VF'9@VEM>UD2^E[QJDWJ4N:B& /Z/!M>E8,T<5><0?
M$\C' $L@^Q,5/$$C(Q0-@1M2&4%$*Z:XBDHK1^8%)5&OMZ(D.B1G.Z3VWME6
MJ;V4>_@;M9XSIE5R@$4LHM7/FMK8\4V96 >)+*^IZ^_RYN/0,1A49#W)RSO9
M9O,T6(2(IC&B)Q3>,IV86LAT&0=SG]NU.3<# .+4_%;#&YI:&F6!I&F0>SIW
MGDFX$I S;6)Z-KDV.7\F8#YSD]MD2*T99ZCP2+-R6HVC4OIY1CF;3"6J^@)]
M*T:(NZ@:6]3"$L(@J\JMP3]^[?<ZG?-[7Y*K('" "7APT4!<,:.%U2\NZ1:K
M4G'U8X 1"$LY0 0+(GR'V63DF-:WI>4]+QC*"( FW)]Y=@U"CL^-7_M7'ZYN
M3PMF$--OO5,(2I8E@M@($*&X".+[KLDG#"19$Q?!A"*S>":/D&%S/K>"3.=E
M9*X=4PCRB'M)4H'<;D)A=,[%;5YPAH>94T78[D[4KUQ8=IGQQBIJW8T41E%?
M@+]_,A?,G;DD]BV(K\R"* O%UQ?(S%4XT'?B("9\-9EP.H&RJ,#"P;2,:_P
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M5[\2]JLS#?9-V./.>(0=V^(;&=H"M. /U-[T1FY,B%P)X5M,91,5S[?!=U;
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M4$L! A0#%     @ PE/"7.;&87ID"P  W$@  !@              ( !
M &0Q,3$S,C-D97AF:6QI;F=F965S+FAT;5!+!08      0 ! $8   ":"P
"   !

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>17
<FILENAME>d111323dexfilingfees_htm.xml
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<XML>
<?xml version="1.0" encoding="utf-8"?>
<xbrl
  xmlns="http://www.xbrl.org/2003/instance"
  xmlns:dei="http://xbrl.sec.gov/dei/2026"
  xmlns:ffd="http://xbrl.sec.gov/ffd/2026"
  xmlns:iso4217="http://www.xbrl.org/2003/iso4217"
  xmlns:link="http://www.xbrl.org/2003/linkbase"
  xmlns:xbrldi="http://xbrl.org/2006/xbrldi"
  xmlns:xlink="http://www.w3.org/1999/xlink"
  xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
    <link:schemaRef
      xlink:href="https://xbrl.sec.gov/ffd/2026/ffd-2026.xsd"
      xlink:type="simple"/>
    <context id="rc">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0002027317</identifier>
        </entity>
        <period>
            <startDate>2026-06-01</startDate>
            <endDate>2026-06-01</endDate>
        </period>
    </context>
    <context id="offrl_1">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0002027317</identifier>
            <segment>
                <xbrldi:typedMember dimension="ffd:OfferingAxis">
                    <dei:lineNo>1</dei:lineNo>
                </xbrldi:typedMember>
            </segment>
        </entity>
        <period>
            <startDate>2026-06-01</startDate>
            <endDate>2026-06-01</endDate>
        </period>
    </context>
    <unit id="USD">
        <measure>iso4217:USD</measure>
    </unit>
    <unit id="pure">
        <measure>pure</measure>
    </unit>
    <ffd:FormTp contextRef="rc" id="ixv-344">S-3</ffd:FormTp>
    <ffd:SubmissnTp contextRef="rc" id="ixv-345">424B5</ffd:SubmissnTp>
    <ffd:FeeExhibitTp contextRef="rc" id="ixv-346">EX-FILING FEES</ffd:FeeExhibitTp>
    <ffd:RegnFileNb contextRef="rc" id="ixv-347">333-290653</ffd:RegnFileNb>
    <dei:EntityCentralIndexKey contextRef="rc" id="ixv-348">0002027317</dei:EntityCentralIndexKey>
    <dei:EntityRegistrantName contextRef="rc" id="ixv-349">Curbline Properties Corp.</dei:EntityRegistrantName>
    <ffd:OfferingTableNa contextRef="rc" id="hiddenrcOfferingTableNa" xsi:nil="true"/>
    <ffd:OffsetTableNa contextRef="rc" id="hiddenrcOffsetTableNa">N/A</ffd:OffsetTableNa>
    <ffd:CombinedProspectusTableNa contextRef="rc" id="hiddenrcCombinedProspectusTableNa">N/A</ffd:CombinedProspectusTableNa>
    <ffd:FormTp contextRef="rc" id="ixv-377">S-3</ffd:FormTp>
    <dei:EntityRegistrantName contextRef="rc" id="ixv-378">Curbline Properties Corp.</dei:EntityRegistrantName>
    <ffd:PrevslyPdFlg contextRef="offrl_1" id="ixv-379">false</ffd:PrevslyPdFlg>
    <ffd:OfferingSctyTp contextRef="offrl_1" id="ixv-380">Equity</ffd:OfferingSctyTp>
    <ffd:OfferingSctyTitl contextRef="offrl_1" id="ixv-381">Common Stock, $0.01 par value per share</ffd:OfferingSctyTitl>
    <ffd:Rule457rFlg contextRef="offrl_1" id="ixv-382">true</ffd:Rule457rFlg>
    <ffd:MaxAggtOfferingPric
      contextRef="offrl_1"
      decimals="2"
      id="ixv-383"
      unitRef="USD">400000000.00</ffd:MaxAggtOfferingPric>
    <ffd:FeeRate
      contextRef="offrl_1"
      decimals="7"
      id="ixv-384"
      unitRef="pure">0.0001381</ffd:FeeRate>
    <ffd:FeeAmt
      contextRef="offrl_1"
      decimals="2"
      id="ixv-385"
      unitRef="USD">55240.00</ffd:FeeAmt>
    <ffd:TtlOfferingAmt contextRef="rc" decimals="2" id="ixv-386" unitRef="USD">400000000.00</ffd:TtlOfferingAmt>
    <ffd:TtlFeeAmt contextRef="rc" decimals="2" id="ixv-387" unitRef="USD">55240.00</ffd:TtlFeeAmt>
    <ffd:TtlPrevslyPdAmt contextRef="rc" decimals="2" id="ixv-388" unitRef="USD">0.00</ffd:TtlPrevslyPdAmt>
    <ffd:TtlOffsetAmt contextRef="rc" decimals="2" id="ixv-389" unitRef="USD">0.00</ffd:TtlOffsetAmt>
    <ffd:NetFeeAmt contextRef="rc" decimals="2" id="ixv-390" unitRef="USD">55240.00</ffd:NetFeeAmt>
    <ffd:OfferingNote contextRef="offrl_1" id="ixv-391">The registration fee is calculated in accordance with Rules 457(o) and 457(r) under the Securities Act of 1933, as amended (the "Securities Act"). In accordance with Rules 456(b) and 457(r) of the Securities Act, the registrant initially deferred payment of all of the registration fees for Registration Statement on Form S-3 (File No. 333-290653) filed by the registrant on October 1, 2025.</ffd:OfferingNote>
    <ffd:NrrtvMaxAggtOfferingPric contextRef="rc" decimals="2" id="ixv-392" unitRef="USD">400000000.00</ffd:NrrtvMaxAggtOfferingPric>
    <ffd:FnlPrspctsFlg contextRef="rc" id="ixv-393">true</ffd:FnlPrspctsFlg>
</xbrl>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
