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BRIXMOR PROPERTY GROUP PROVIDES UPDATE ON FOURTH QUARTER INVESTMENT ACTIVITY
BRXBPG(BRX) Prnewswire·2025-01-07 13:30

Core Insights - Brixmor Property Group Inc. announced its investment activity for the three and twelve months ended December 31, 2024, highlighting a disciplined strategy focused on clustering its portfolio in attractive markets for long-term value and earnings growth [1][2] Investment Activity - During Q4 2024, the company acquired four shopping centers and one land parcel for a total of 211.8million[4]−Forthefullyear2024,Brixmoracquiredsevenshoppingcentersandtwolandparcelsforatotalof211.8 million [4] - For the full year 2024, Brixmor acquired seven shopping centers and two land parcels for a total of 293.0 million [4] - Notable acquisitions in Q4 2024 include: - The Plaza at Buckland Hills for 67.5million,a308,000squarefootgrocery−anchoredcenterinManchester,Connecticut[4]−BrittonPlazafor67.5 million, a 308,000 square foot grocery-anchored center in Manchester, Connecticut [4] - Britton Plaza for 60.5 million, a 466,000 square foot center in South Tampa, Florida, with significant redevelopment potential [4] - North Ridge Shopping Center for 54.6million,a171,000squarefootcenterinRaleigh,NorthCarolina,offeringsubstantialvaluecreationopportunities[4]−HuronVillagefor54.6 million, a 171,000 square foot center in Raleigh, North Carolina, offering substantial value creation opportunities [4] - Huron Village for 29.3 million, a 118,000 square foot center in Ann Arbor, Michigan, with near-term remerchandising opportunities [4] Dispositions - In Q4 2024, Brixmor generated approximately 69.3millionfromthedispositionofoneshoppingcenterandtwopartialproperties[4]−Forthefullyear2024,thecompanygeneratedapproximately69.3 million from the disposition of one shopping center and two partial properties [4] - For the full year 2024, the company generated approximately 212.4 million from the sale of six shopping centers and eight partial properties [4] Capital Structure - In Q4 2024, Brixmor raised approximately 96.6millionfromthesaleofabout3.4millionsharesofcommonstockatanaveragepriceof96.6 million from the sale of about 3.4 million shares of common stock at an average price of 28.77 per share [4] - For the full year 2024, the company raised approximately 116.6millionfromthesaleofabout4.1millionsharesatanaveragepriceof116.6 million from the sale of about 4.1 million shares at an average price of 28.62 per share [4] Company Overview - Brixmor is a real estate investment trust (REIT) that operates a national portfolio of open-air shopping centers, comprising approximately 63 million square feet of retail space [6] - The company partners with over 5,000 retailers, including major brands like The TJX Companies and Publix Super Markets [6]