DOCSLIB.ORG

Brixmor Property Group Inc. Form 8-K Current Report Filed 2017-05-01

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Brixmor Property Group Inc. Form 8-K Current Report Filed 2017-05-01 SECURITIES AND EXCHANGE COMMISSION FORM 8-K Current report filing Filing Date: 2017-05-01 | Period of Report: 2017-05-01 SEC Accession No. 0001581068-17-000017 (HTML Version on secdatabase.com) FILER Brixmor Property Group Inc. Mailing Address Business Address 450 LEXINGTON AVENUE 450 LEXINGTON AVENUE CIK:1581068| IRS No.: 452433192 | State of Incorp.:DE | Fiscal Year End: 1231 NEW YORK NY 10017 NEW YORK NY 10017 Type: 8-K | Act: 34 | File No.: 001-36160 | Film No.: 17801009 (212) 869-3000 SIC: 6798 Real estate investment trusts Brixmor Operating Partnership LP Mailing Address Business Address 420 LEXINGTON AVENUE 420 LEXINGTON AVENUE CIK:1630031| IRS No.: 800831163 | State of Incorp.:DE | Fiscal Year End: 1231 NEW YORK NY 10170 NEW YORK NY 10170 Type: 8-K | Act: 34 | File No.: 333-201464-01 | Film No.: 17801010 212-869-3000 SIC: 6798 Real estate investment trusts Copyright © 2017 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of Earliest Event Reported): May 1, 2017 Brixmor Property Group Inc. Brixmor Operating Partnership LP (Exact Name of Registrant as Specified in its Charter) Maryland (Brixmor Property Group Inc.) 001-36160 45-2433192 Delaware (Brixmor Operating Partnership LP) 333-201464-01 80-0831163 (State or Other Jurisdiction (Commission (IRS Employer of Incorporation) File Number) Identification No.) 450 Lexington Avenue New York, New York 10017 (Address of Principal Executive Offices) (Zip Code) (212) 869-3000 (Registrant’s Telephone Number, Including Area Code) Not Applicable (Former Name or Former Address, if Changed Since Last Report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Copyright © 2017 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Indicate by check mark whether the registrant is an emerging growth company. See the definitions of “emerging growth company” in Rule 12b-2 of the Exchange Act. Brixmor Property Group Inc. Yes ☐ No þ Brixmor Operating Partnership LP Yes ☐ No þ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Brixmor Property Group Inc. ☐ Brixmor Operating Partnership LP ☐ Copyright © 2017 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document Item 2.02 Results of Operations and Financial Condition. On May 1, 2017, Brixmor Property Group Inc. (the "Company") issued a press release announcing its financial results and Supplemental Disclosure pertaining to its operations for the first quarter ended March 31, 2017. The press release is furnished as Exhibit 99.1 to this Report and the Supplemental Disclosure is furnished as Exhibit 99.2 to this Report. As provided in General Instruction B.2 of Form 8-K, the information in this Item 2.02 and Exhibits 99.1 and 99.2 to this Form 8-K shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall they be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing. Item 9.01 Financial Statements and Exhibits (d) The following exhibits are attached to this Current Report on Form 8-K 99.1 Press release issued May 1, 2017. 99.2 Brixmor Property Group Inc. Supplemental Financial Information for the first quarter ended March 31, 2017. Copyright © 2017 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned hereunto duly authorized. Date: May 1, 2017 BRIXMOR PROPERTY GROUP INC. By: /s/Steven F. Siegel Name: Steven F. Siegel Title: Executive Vice President, General Counsel and Secretary BRIXMOR OPERATING PARTNERSHIP LP By: Brixmor OP GP LLC, its general partner By: BPG Subsidiary Inc., its sole member By: /s/Steven F. Siegel Name: Steven F. Siegel Title: Executive Vice President, General Counsel and Secretary Copyright © 2017 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document EXHIBIT INDEX Exhibit No. Description 99.1 Press release issued May 1, 2017. 99.2 Brixmor Property Group Inc. Supplemental Financial Information for the first quarter ended March 31, 2017. Copyright © 2017 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document Exhibit 99.1 450 Lexington Avenue : New York, NY 10017 : 800.468.7526 FOR IMMEDIATE RELEASE CONTACT: Stacy Slater Senior Vice President, Investor Relations 800.468.7526 [email protected] BRIXMOR PROPERTY GROUP REPORTS FIRST QUARTER 2017 RESULTS - Achieves Highest First Quarter New and Renewal Leasing Volume - - Continues ot Drive Robust Cash Leasing Spreads - NEW YORK, May 1, 2017 - Brixmor Property Group Inc. (NYSE: BRX) (“Brixmor” or the “Company”) announced today its operating results for the three months ended March 31, 2017. For the three months ended March 31, 2017, net income attributable to common stockholders was $0.23 per diluted share compared with $0.20 per diluted share in the comparable 2016 period. Key highlights for the three months ended March 31, 2017 include: • Grew FFO per diluted share 4.4% year-over-year, excluding non-cash GAAP adjustments and lease termination eesf • Generated same property NOI growth of 3.2% • Executed 1.9 million square feet of new and renewal leases at comparable rent spreads of 16.4% • Increased leased occupancy by 10 basis points year-over-year to 92.5% • Increased small shop leased occupancy by 90 basis points year-over-year to 84.8% • Added $42.5 million of value enhancing reinvestment projects to the in process pipeline at an expected average incremental NOI yield of 10% • Completed four anchor space repositioning projects and three outparcel developments for a total investment of $14.5 million at an average incremental NOI yield of 14% • Completed $104.5 million of acquisitions and $35.5 million of dispositions • Issued $400.0 million of 3.90% Senior Notes due 2027 and utilized proceeds to prepay a portion of the Company’s Tranche A Term Loan maturing July 31, 2018 “While the overall retail environment brought an increase in announced retail bankruptcies and store closings, our portfolio continued to benefit from healthy tenant demand, resulting in 1.9 million square feet of new and renewal leases executed in the first quarter at blended comparable rent spreads of 16.4%,” commented James Taylor, Chief Executive Officer and President. “Importantly, our leasing Copyright © 2017 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document and redevelopment activity continues to demonstrate the upside embedded in our portfolio given our locations, below market rent basis and accretive redevelopment potential, all of which eprr esent distinct ompec titive advantages in today’s environment.” FINANCIAL HIGHLIGHTS Net Income • For the three months ended March 31, 2017 and 2016, net income attributable to common stockholders was $71.6 million, or $0.23 per diluted share, and $60.5 million, or $0.20 per diluted share, respectively. i Copyright © 2017 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document 450 Lexington Avenue : New York, NY 10017 : 800.468.7526 NAREIT FFO • For the three months ended March 31, 2017 and 2016, NAREIT FFO was $161.6 million, or $0.53 per diluted share, and $161.3 million, or $0.53 per diluted share, respectively. Same Property NOI Growth • Same property NOI for the three months ended March 31, 2017 increased 3.2% from the comparable 2016 period. • Same property base rent for the three months ended March 31, 2017 contributed 250 basis points to same property NOI growth. Dividend • The Company’s Board of Directors declared a quarterly cash dividend of $0.26 per common share (equivalent to $1.04 per annum) for the second quarter of 2017. • The dividend is payable on July 17, 2017 to stockholders of record on July 6, 2017, representing an ex-dividend date of July 3, 2017. PORTFOLIO AND INVESTMENT ACTIVITY Value Enhancing Reinvestment Opportunities • During the three months ended March 31, 2017, the Company completed four anchor space repositioning projects and added five new projects to its in process pipeline. At March 31, 2017, the anchor space repositioning in process pipeline was comprised of 17 projects with an aggregate net estimated cost of approximately $33.1 million at expected average incremental NOI yields of 13 to 15%. • During the three months ended March 31, 2017, the Company completed three outparcel developments and added three new projects to its in process pipeline. At March 31, 2017, the outparcel development in process pipeline was comprised of seven projects with an aggregate net estimated cost of approximately $9.6 million at an expected average incremental NOI yield of 13%.
Load more

Recommended publications
  • Sifting Through the Ashes Able with a Pistol Free Zone.” Snyder Vetoed the Bill on Tuesday, Dec
    WCC’s Android ‘Global Explosion: wireless gadgets initiative’ outnumber human race C1 B3 COURTESY PHOTO NASA THE January 14, 2013 Washtenaw Community College washtenawvoice.com Volume 19, Issue 9 Ann Arbor, Michigan @washtenawvoice WCC officialsVOICE applaud governor’s gun law veto Campus officials members of the national, grassroots organization, lobbied to push Senate assert that guns have Bill 59 through the state legislature no place at WCC and allow concealed carry permit holders to bring their guns onto col- By ADRIAN HEDDEN lege campuses and other previously Managing Editor defined pistol free zones. Necessitating greater standard- As Reid Smith traverses downtown ized requirements and fees for CPLs, Detroit, attending classes at Wayne as well as transferring responsibility State University deep into the dark- for the administration of gun licenses BENJAMIN KNAUSS THE WASHTENAW VOICE ness of night, he is unarmed and fears to Michigan State Police, SCC hoped his safety is at risk. the bill would expand the rights of li- Living Ruins: Residents at Ypsilanti’s Schooner Cove apartment complex sift through rubble like this after a Jan. 7 fire. “I have to walk from the school to censed gun holders and create greater my apartment every day,” Smith said. convenience in the tracking of law- “I have no recourse. There’s no area in abiding licensees. the world that I would feel comfort- But when Republican Gov. Rick Sifting through the ashes able with a pistol free zone.” Snyder vetoed the bill on Tuesday, Dec. The 25-year-old medical student 18, in the wake of a tragic shooting at By ANNA ELIAS pot? Residents could only hope they don’t call me during the day for any- and resident of downtown Detroit pos- Sandy Hook Elementary School in Staff Writer were not the source of the early af- thing,” said Schooner Cove resident sesses a legal Concealed Pistol License, Newtown, Conn.
    [Show full text]
  • New Tenants Transform Big-Box Spaces Left by Circuit City, Borders | Michigan Business | Detroit Free Press | Freep.Com
    New tenants transform big-box spaces left by Circuit City, Borders | Michigan Business | Detroit Free Press | freep.com CLASSIFIEDS: CARS JOBS HOMES APARTMENTS CLASSIFIEDS SHOPPING E-CIRCULARS DAILY DEALS ADVERTISE SUBSCRIBE News Sports Autos/Biz Classifieds Entertainment Life Opinion Obits Help Sign up Log in MORE: Detroit Self-Portrait Politics/Elections e-Edition Marathon DealChicken SEARCH ADVERTISEMENT New tenants transform big-box spaces left by Circuit City, Borders February 6, 2013 | 4 Comments Recommend 45 people recommend this. Recommend 45 0 A A ADVERTISEMENT Most Popular Most Commented More Headlines 1 Teenager charged in slaying of Michigan State student from Rochester area 2 Farmington court shaken after clerk's body found in pieces Milford teens suspended over Purchase Image 3 suggestive 'Harlem Shake' video The old Circuit City site near Oakland Mall in Troy was a perfect fit for Classic Auto Showplace. "Basically, all we did was paint the walls," said Mike Sherman, above. Many of Michigan's empty big-box spaces are gradually finding new 4 Funeral set for slain Michigan State tenants. / Andre J. Jackson/Detroit Free Press student; Okemos man charged By JC Reindl Tucked behind the Oakland Mall in Troy is a big box of nostalgia. Detroit Free Press Business Writer With its familiar maroon stripe, the outside of the store looks much Most Viewed FILED UNDER as it did when it housed a Circuit City, the electronics retailer that http://www.freep.com/apps/pbcs.dll/article?AID=2013302060126[2/26/2013 11:34:49 AM] New tenants transform big-box spaces left by Circuit City, Borders | Michigan Business | Detroit Free Press | freep.com went bankrupt in 2009.
    [Show full text]
  • 1Q2017 Supplemental Disclosure
    SUPPLEMENTAL DISCLOSURE Quarter ended March 31, 2017 450 Lexington Ave New York, NY 10017 (800) 468.7526 BRIXMOR.COM 450 Lexington Avenue ¦ New York, NY 10017 ¦ 800.468.7526 FOR IMMEDIATE RELEASE CONTACT: Stacy Slater Senior Vice President, Investor Relations 800.468.7526 [email protected] BRIXMOR PROPERTY GROUP REPORTS FIRST QUARTER 2017 RESULTS - Achieves Highest First Quarter New and Renewal Leasing Volume - - Continues to Drive Robust Cash Leasing Spreads - NEW YORK, May 1, 2017 - Brixmor Property Group Inc. (NYSE: BRX) (“Brixmor” or the “Company”) announced today its operating results for the three months ended March 31, 2017. For the three months ended March 31, 2017, net income attributable to common stockholders was $0.23 per diluted share compared with $0.20 per diluted share in the comparable 2016 period. Key highlights for the three months ended March 31, 2017 include: • Grew FFO per diluted share 4.4% year-over-year, excluding non-cash GAAP adjustments and lease termination fees • Generated same property NOI growth of 3.2% • Executed 1.9 million square feet of new and renewal leases at comparable rent spreads of 16.4% • Increased leased occupancy by 10 basis points year-over-year to 92.5% • Increased small shop leased occupancy by 90 basis points year-over-year to 84.8% • Added $42.5 million of value enhancing reinvestment projects to the in process pipeline at an expected average incremental NOI yield of 10% • Completed four anchor space repositioning projects and three outparcel developments for a total investment
    [Show full text]
  • Brixmor Property Group Inc. Form 8-K Current Event Report Filed 2019-10
    SECURITIES AND EXCHANGE COMMISSION FORM 8-K Current report filing Filing Date: 2019-10-28 | Period of Report: 2019-10-28 SEC Accession No. 0001581068-19-000040 (HTML Version on secdatabase.com) FILER Brixmor Property Group Inc. Mailing Address Business Address 450 LEXINGTON AVENUE 450 LEXINGTON AVENUE CIK:1581068| IRS No.: 452433192 | State of Incorp.:DE | Fiscal Year End: 1231 NEW YORK NY 10017 NEW YORK NY 10017 Type: 8-K | Act: 34 | File No.: 001-36160 | Film No.: 191173147 (212) 869-3000 SIC: 6798 Real estate investment trusts Brixmor Operating Partnership LP Mailing Address Business Address 420 LEXINGTON AVENUE 420 LEXINGTON AVENUE CIK:1630031| IRS No.: 800831163 | State of Incorp.:DE | Fiscal Year End: 1231 NEW YORK NY 10170 NEW YORK NY 10170 Type: 8-K | Act: 34 | File No.: 333-201464-01 | Film No.: 191173148 212-869-3000 SIC: 6798 Real estate investment trusts Copyright © 2019 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported): October 28, 2019 Brixmor Property Group Inc. Brixmor Operating Partnership LP (Exact Name of Registrant as Specified in Charter) Maryland 001-36160 45-2433192 Delaware 333-201464-01 80-0831163 (State or Other Jurisdiction (Commission (IRS Employer of Incorporation) File Number) Identification No.) 450 Lexington Avenue New York, New York 10017
    [Show full text]
  • Investment Holdings As of June 30, 2019
    Investment Holdings As of June 30, 2019 Montana Board of Investments | Portfolio as of June 30, 2019 Transparency of the Montana Investment Holdings The Montana Board of Investment’s holdings file is a comprehensive listing of all manager funds, separately managed and commingled, and aggregated security positions. Securities are organized across common categories: Pension Pool, Asset Class, Manager Fund, Aggregated Individual Holdings, and Non-Pension Pools. Market values shown are in U.S. dollars. The market values shown in this document are for the individual investment holdings only and do not include any information on accounts for receivables or payables. Aggregated Individual Holdings represent securities held at our custodian bank and individual commingled accounts. The Investment Holdings Report is unaudited and may be subject to change. The audited Unified Investment Program Financial Statements, prepared on a June 30th fiscal year-end basis, will be made available once the Legislative Audit Division issues the Audit Opinion. Once issued, the Legislative Audit Division will have the Audit Opinion available online at https://www.leg.mt.gov/publications/audit/agency-search-report and the complete audited financial statements will also be available on the Board’s website http://investmentmt.com/AnnualReportsAudits. Additional information can be found at www.investmentmt.com Montana Board of Investments | Portfolio as of June 30, 2019 2 Table of Contents Consolidated Asset Pension Pool (CAPP) 4 CAPP - Domestic Equities 5 CAPP - International
    [Show full text]
  • Location Is Everything
    Location is Everything. CONFIDENTIAL Nearly 53 years of experience in retail investment Transaction history that includes over400 assets totaling $4.0 billion Over 53 dedicated retail real estate professionals Experience, Low-leverage, flexible balance sheet Expertise, Strong local market expertise in CA, AZ, TX, and Vision CO, IL, NC, GA Key relationships with Kroger, Albertsons, Publix, and Sprouts Board of Directors consisting of 2 independents and 5 total members 2 Path to Institutionalization 1970-2015 Syndication Years • Westwood Financial founded by Steven Fogel and Howard Banchik • Acquired 69 assets via syndication in Los Angeles, primarily apartment buildings • Transitioned from apartment buildings to unanchored retail centers • Grew syndication model to over 100 retail assets and approximately $1.7 billion in AUM 2016-2020 Institutionalized, Post Roll-Up Years • Completed Consolidation Transaction on September 1, 2016 with the roll up of 550 limited partnerships into a limited liability company • Established Board of Directors • Extended debt duration to over six years by transitioning balance sheet lenders from local banks and CMBS to banks and life insurance lenders • Purchased approximately $200 million of real estate including high-profile assets such as Lake Houston (H-E-B), Arbors at Mallard Creek (Trader Joe’s), Decatur Crossing (Sprouts), and Kingsbury Center (Lincoln Park, IL) • Transitioned Co-CEO structure with single CEO role; Mark Bratt, formerly CIO of DDR Corp. and Sr. Managing Director at CBRE, and lead-independent
    [Show full text]
  • State Jobs Bank May Not Be Open To
    20121029-NEWS--0001-NAT-CCI-CD_-- 10/26/2012 6:30 PM Page 1 ® www.crainsdetroit.com Vol. 28, No. 45 OCTOBER 29 – NOVEMBER 4, 2012 $2 a copy; $59 a year ©Entire contents copyright 2012 by Crain Communications Inc. All rights reserved Page 3 WORLD SERIES Insurance chief works out State jobs Blue Cross payment details bank may University Research In the ALS stem not be cell trials may come to Ann cards open to all Arbor, PHOTO/THE ASSOCIATED PRESS Page 11 Owners of Tigers, Giants made Change concerns fortunes far from ballparks staffing firms BY SHERRI WELCH Crain’s Lists One was a speedy minor-league second base- CRAIN’S DETROIT BUSINESS man with a bum knee who took a gamble on A talent website the state re- Largest business insurance pizza becoming an American staple. The other launched in mid-October includes agencies, Page 23 was a 24-year-old taking over his dad’s modest bells and whistles like a career in- financial retail brokerage firm on Wall Street. vestment calculator enabling peo- Today, Detroit’s Mike Ilitch and San Fran- ple to weigh their investment in Largest automotive higher education against the earn- cisco’s Charles Johnson are billionaire titans of aftermarket parts suppliers, ing power of various careers. their industries — discount pizza and mutual But the site’s second iteration — Page 24 funds, respectively. And the baseball teams at www.mitalent.org, which re- they have come to own became World Series ri- placed the Michigan Talent Bank This Just In vals. on Oct.
    [Show full text]
  • Location Is Everything
    Location is Everything. CONFIDENTIAL 8.19.21 Nearly 53 years of experience in retail investment Transaction history that includes over400 assets totaling $4.0 billion 55 dedicated retail real estate professionals Experience, Low-leverage, flexible balance sheet Expertise, Strong local market expertise in CA, AZ, CO, and Vision TX, IL, GA, FL, NC Key grocer relationships with Albertsons, H.E.B., Kroger, Publix, and Sprouts Key national retail relationships with Target, Walmart, TJX, Burlington, and Five Below Board of Directors consisting of 2 independents and 5 total members 2 Path to Institutionalization 1970-2015 Syndication Years • Westwood Financial founded by Steven Fogel and Howard Banchik • Acquired 69 assets via syndication in Los Angeles, primarily apartment buildings • Transitioned from apartment buildings to unanchored retail centers • Grew syndication model to over 100 retail assets and approximately $1.7 billion in AUM 2016-Current Institutionalized, Post Roll-Up Years • Completed Consolidation Transaction on September 1, 2016 with the roll-up of 550 limited partnerships into a limited liability company • Established Board of Directors • Extended debt duration to over six years by transitioning balance sheet lenders from local banks and CMBS to banks and life insurance lenders • Purchased approximately $210 million of real estate including high-profile assets such as Lake Houston (H-E-B), Arbors at Mallard Creek (Trader Joe’s), Decatur Crossing (Sprouts), Prosperity Village (Publix), and Fountains West (Publix) • Transitioned
    [Show full text]
  • Aus Analysis in US Format.Xls
    Centro Properties Group Supplemental Information First Half FY08 (Period ended 31 Dec 2007) For personal use only Table of Contents Glossary............................................................................................................................................................... 3 Australasian Portfolio Section Property Type Summary ......................................................................................................................................5 Properties by State...............................................................................................................................................6 Redevelopments ..................................................................................................................................................7 New Development Activities.................................................................................................................................9 Top Ten Retailers...............................................................................................................................................10 Lease Expiration Schedule ................................................................................................................................ 11 New and Renewal Lease Summary ................................................................................................................... 12 Same Property NOI Analysis.............................................................................................................................
    [Show full text]
  • 450 Lexington Avenue ¦ New York, NY 10017 ¦ 800.468.7526
    450 Lexington Avenue ¦ New York, NY 10017 ¦ 800.468.7526 FOR IMMEDIATE RELEASE CONTACT: Stacy Slater Senior Vice President, Investor Relations 800.468.7526 [email protected] BRIXMOR PROPERTY GROUP REPORTS FOURTH QUARTER AND FULL YEAR 2018 RESULTS - Successful Execution in 2018 Sets Up Accelerating Growth - - Delivers Record Annual New Lease Volume - NEW YORK, FEBRUARY 11, 2019 - Brixmor Property Group Inc. (NYSE: BRX) (“Brixmor” or the “Company”) announced today its operating results for the three and twelve months ended December 31, 2018. For the three months ended December 31, 2018 and 2017, net income attributable to common stockholders was $0.26 per diluted share and $0.23 per diluted share, respectively. Key highlights for the three months ended December 31, 2018 include: • Executed 2.1 million square feet of new and renewal leases at comparable rent spreads of 11.2%, including 0.9 million square feet of new leases at comparable rent spreads of 31.5% • Executed 3.1 million square feet of total leasing volume, including options, at comparable rent spreads of 9.5% • Realized total leased occupancy of 91.9%, reflecting the impact of 70 basis points of space rejected in the Sears / Kmart bankruptcy, net of executed backfills o Realized anchor leased occupancy of 94.6%, reflecting the impact of 100 basis points of space rejected in the Sears / Kmart bankruptcy, net of executed backfills o Increased small shop leased occupancy to 85.7%, a 120 basis point increase from the comparable 2017 period o Increased leased to billed occupancy
    [Show full text]
  • Supplemental Disclosure
    SUPPLEMENTAL DISCLOSURE QUARTER ENDED MARCH 31, 2018 450 Lexington Ave New York, NY 10017 800.468.7526 BRIXMOR.COM 450 Lexington Avenue ¦ New York, NY 10017 ¦ 800.468.7526 FOR IMMEDIATE RELEASE CONTACT: Stacy Slater Senior Vice President, Investor Relations 800.468.7526 [email protected] BRIXMOR PROPERTY GROUP REPORTS FIRST QUARTER 2018 RESULTS - Delivers Highest New Lease Volume in Three Years - - Achieves New Lease Spreads of 36.7% - NEW YORK, APRIL 30, 2018 - Brixmor Property Group Inc. (NYSE: BRX) (“Brixmor” or the “Company”) announced today its operating results for the three months ended March 31, 2018. For the three months ended March 31, 2018 and 2017, net income attributable to common stockholders was $0.20 per diluted share and $0.23 per diluted share, respectively. Key highlights for the three months ended March 31, 2018 include: • Executed 2.0 million square feet of new and renewal leases at comparable rent spreads of 16.7%, including 1.0 million square feet of new leases at comparable rent spreads of 36.7% with stable tenant improvements costs and lease duration • Executed 2.7 million square feet of total leasing volume, including options, at comparable rent spreads of 14.5% • Realized total leased occupancy of 92.1%, anchor leased occupancy of 95.4% and small shop leased occupancy of 84.4% • Generated same property NOI growth of 0.7% • Delivered $31.7 million of value enhancing reinvestment projects at an average incremental NOI yield of 10% • Completed seven dispositions for $106.4 million; closed an additional two dispositions for $31.8 million subsequent to quarter end and placed an additional $221.0 million of dispositions under contract • Repurchased $29.7 million of common stock • Affirmed previously provided NAREIT FFO per diluted share and same property NOI growth expectations for 2018 “I am extremely pleased with how our team continues to execute on all facets of our balanced, self-funded business plan.
    [Show full text]
  • Please Join Us for Brixmor Property Group Inc.'S Annual Meeting Of
    April 10, 2014 Dear Fellow Stockholders: Please join us for Brixmor Property Group Inc.’s Annual Meeting of Stockholders on Thursday, June 12, 2014, at 10:00 a.m. (Eastern Daylight Time) at the offices of Simpson Thacher & Bartlett LLP, 425 Lexington Avenue, New York, New York 10017. The matters to be acted upon at the Annual Meeting are described in detail in the accompanying notice of the Annual Meeting and the proxy statement. We also will report on matters of current interest to our stockholders. The Annual Meeting materials include the notice, proxy statement, our annual report and proxy card, all of which are enclosed. Please use this opportunity to contribute to our company by voting on the matters to come before this Annual Meeting. Stockholders who hold shares in their own name through our transfer agent, Computershare, can vote online or by telephone. To vote online or by telephone, follow the instructions for online voting contained within your Annual Meeting materials. If you do not wish to vote online or by telephone, please complete, date, sign and promptly return the enclosed proxy card in the enclosed postage-paid envelope so that your shares will be represented at the Annual Meeting. Voting online, by telephone or by returning the proxy card does not deprive you of your right to attend the Annual Meeting and to vote your shares in person. If you do attend the Annual Meeting and wish to vote in person, you may revoke your proxy at or prior to the Annual Meeting. Thank you for your continued support of Brixmor Property Group Inc.
    [Show full text]