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BRIXMOR PROPERTY GROUP PROVIDES UPDATE ON FOURTH QUARTER TRANSACTION ACTIVITY

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NEW YORK, Jan. 10, 2022 /PRNewswire/ -- Brixmor Property Group Inc. (NYSE: BRX) ("Brixmor" or the "Company") announced today transaction activity for the three months ended December 31, 2021. These transactions reflect Brixmor's disciplined strategy of growing its portfolio in existing retail sub-markets and leveraging its value-added platform to deliver attractive returns.

INVESTMENT ACTIVITY
Acquisitions

  • During the three months ended December 31, 2021, the Company acquired four shopping centers for a combined purchase price of $191.9 million. For the twelve months ended December 31, 2021, the Company acquired six shopping centers, in addition to certain outparcels, ancillary land parcels, and leasehold rights, for a combined purchase price of $259.4 million.

  • Subsequent to December 31, 2021, the Company acquired one shopping center for $85.7 million and currently has approximately $72.0 million of acquisitions under hard contract.

  • Acquisitions completed during the three months ended December 31, 2021 include:

  • Subsequent to December 31, 2021, the Company acquired Brea Gateway, an approximately 182,000 square foot grocery-anchored community shopping center located adjacent to the downtown entertainment district of Brea, California (Los Angeles-Long Beach-Anaheim, CA MSA), for $85.7 million. Brea Gateway is anchored by a market dominant Ralphs (Kroger), Cost Plus World Market, HomeGoods, and Rite Aid and has substantial value creation opportunities though leasing, anchor repositioning, and operational enhancements. The property is located within 15 minutes of multiple Brixmor assets in the Los Angeles market and expands the Company's footprint in the market to approximately 1.9 million square feet.

Dispositions

  • During the three months ended December 31, 2021, the Company generated approximately $116.2 million of gross proceeds on the disposition of eight shopping centers, as well as two partial properties, comprised of 1.1 million square feet of gross leasable area. For the twelve months ended December 31, 2021, the Company generated approximately $244.3 million of gross proceeds on the disposition of 17 shopping centers, as well as 16 partial properties and a land parcel, comprised of 2.6 million square feet of gross leasable area.

  • The Company has approximately $32.0 million of dispositions under hard contract.

CONNECT WITH BRIXMOR

ABOUT BRIXMOR PROPERTY GROUP
Brixmor (NYSE: BRX) is a real estate investment trust (REIT) that owns and operates a high-quality, national portfolio of open-air shopping centers. Its 386 retail centers comprise approximately 68 million square feet of prime retail space in established trade areas. The Company strives to own and operate shopping centers that reflect Brixmor's vision "to be the center of the communities we serve" and are home to a diverse mix of thriving national, regional, and local retailers. Brixmor is a proud real estate partner to approximately 5,000 retailers including The TJX Companies, The Kroger Co., Publix Super Markets and Ross Stores.

Brixmor announces material information to its investors in SEC filings and press releases and on public conference calls, webcasts and the "Investors" page of its website at www.brixmor.com. The Company also uses social media to communicate with its investors and the public, and the information Brixmor posts on social media may be deemed material information. Therefore, Brixmor encourages investors and others interested in the Company to review the information that it posts on its website and on its social media channels.

SAFE HARBOR LANGUAGE
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements include, but are not limited to, statements related to the Company's expectations regarding the performance of its business, its financial results, its liquidity and capital resources and other non-historical statements. You can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "seeks," "projects," "predicts," "intends," "plans," "estimates," "anticipates" or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties, including those described under the sections entitled "Forward-Looking Statements" and "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2020 and the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2021, as such factors may be updated from time to time in our periodic filings with the SEC, which are accessible on the SEC's website at www.sec.gov. Currently, one of the most significant factors that could cause actual outcomes or results to differ materially from those indicated in these statements is the adverse effect of the current pandemic of the novel coronavirus ("COVID-19") on the financial condition, operating results and cash flows of the Company, the Company's tenants, the real estate market, the financial markets and the global economy. The COVID-19 pandemic has impacted us and our tenants significantly, and the extent to which it continues to impact us and our tenants will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the scope, severity and duration of the pandemic, treatment developments, public adoption rates of COVID-19 vaccines, including booster shots, and their effectiveness against emerging variants of COVID-19, such as the Delta variant, the direct and indirect economic effects of the pandemic and containment measures, and potential sustained changes in consumer behavior, among others. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release and in the Company's filings with the SEC. The Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.

Brixmor Property Group Logo. (PRNewsFoto/Brixmor Property Group)
Brixmor Property Group Logo. (PRNewsFoto/Brixmor Property Group)
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SOURCE Brixmor Property Group Inc.