Exhibit 99.1
brxbanner.jpg
450 Lexington Avenue : New York, NY 10017 : 800.468.7526





FOR IMMEDIATE RELEASE

CONTACT:
Stacy Slater                            
Senior Vice President, Investor Relations            
800.468.7526                             
stacy.slater@brixmor.com
BRIXMOR PROPERTY GROUP REPORTS FIRST QUARTER 2019 RESULTS
- Achieves Record New Lease ABR of $18.79 Per Square Foot -
- Reinvestment Pipeline Now Over $400 Million -

NEW YORK, APRIL 29, 2019 -
Brixmor Property Group Inc. (NYSE: BRX) (“Brixmor” or the “Company”) announced today its operating results for the three months ended March 31, 2019. For the three months ended March 31, 2019 and 2018, net income was $0.21 per diluted share and $0.20 per diluted share, respectively.

Key highlights for the three months ended March 31, 2019 include:
Executed 1.7 million square feet of new and renewal leases at comparable rent spreads of 12.3%, including 0.7 million square feet of new leases at comparable rent spreads of 32.7%
Executed 3.2 million square feet of total leasing volume, including options, at comparable rent spreads of 9.8%
Realized total leased occupancy of 91.1% and anchor leased occupancy of 93.5%
Grew small shop leased occupancy 130 basis points year over year to 85.7%
Increased leased to billed occupancy spread to 360 basis points, the widest since IPO
Generated same property NOI growth of 2.0%, driven by a 160 basis point contribution from base rent
Grew the total in process reinvestment pipeline to $407.6 million at an expected average incremental NOI yield of 10%, while delivering
$34.8 million of projects at an average incremental NOI yield of 7%
Added six new redevelopment projects to the in process pipeline representing approximately $74.4 million in expected costs
Completed $46.1 million of dispositions comprised of 0.5 million square feet and repurchased $11.6 million of common stock, excluding commissions
Affirmed previously provided NAREIT FFO per diluted share and same property NOI growth expectations for 2019
Adopted FASB Accounting Standards Codification Topic 842, “Leases” (“ASC 842”)

“We continue to execute on our plan to deliver sector leading growth and returns through leasing to better tenants at better rents, accretively reinvesting in our centers and astutely recycling capital,” commented James Taylor, Chief Executive Officer and President. “Our strong performance underscores the strength of our team, our platform and our portfolio during this period of disruption. Also, we are pleased to welcome Julie Bowerman, the Chief Global Digital, Consumer and Customer Experience Officer of Kellogg Company, as a director this quarter, demonstrating our commitment to best-in-class corporate governance, diversified expertise and inclusion.”

FINANCIAL HIGHLIGHTS
The Company adopted ASC 842 on January 1, 2019 and has provided additional detail regarding the adoption in its Supplemental Disclosure and Quarterly Report on Form 10-Q for the quarter ended March 31, 2019. For the three months ended March 31, 2018, the Company capitalized

i

The following information was filed by Brixmor Property Group Inc. (BRX) on Monday, April 29, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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