Brixmor Property Group

Rank#2238

Market Cap8.95B

CountryUnited States

Summary

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 395 retail centers comprise approximately 69 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, Wal-Mart, Ross Stores and L.A. Fitness.

History

Brixmor Property Group's history traces back in late 2003 when Centro Properties Group an Australian shopping mall firm, entered the United States market by the purchase of 14 neighborhood, community and power centers in California. As a result, Centro Properties Group made a joint venture with American-based Watt Commercial Realty to form Centro Watt, to handle their acquired properties. In 2005, Centro acquired Kramont Reality Trust in a $1.2 billion deal. More expansion happened when on May 9, 2006, Sydney-based Westfield Group announces the sale of seven shopping malls which Centro Watt acquired. In 2007, Centro acquired Watt Companies ownership stake, ending the joint venture and renamed the company Centro Properties Group US. Centro Properties Group US acquired more shopping malls and REIT companies as the years went on.In 2011, The Blackstone Group acquired Centro Properties Group US from Centro Retail Trust, and the resulting entity changed its name to Brixmor.In 2012, the company hired Madison Marquette to be the manager for 7 former Westfield Group malls.In October 2013, the company became a public company via initial public offering.In April 2016, president and CEO Michael Carroll, CFO Michael Pappagallo, and chief accounting officer Steven Splain resigned after an accounting scandal. Jim Taylor was named CEO and president.In August 2016, The Blackstone Group reduced its stake in the company to 14%.

Mission

To deliver compelling total returns to our shareholders by acting like owners, aggressively managing and upgrading our shopping centers to make them relevant to the communities they serve, with merchants that thrive in a dynamic and competitive environment.

Vision

Leading the industry with exceptional quality and service.

References

https://en.wikipedia.org/wiki/Brixmor_Property_Group

https://in.investing.com/equities/brixmor-property

https://finance.yahoo.com/quote/BRX/profile?p=BRX

https://www.comparably.com/companies/brixmor-property-group/mission

https://www.crunchbase.com/organization/brixmor-property-group

https://sec.report/CIK/0001581068

https://companiesmarketcap.com/

https://www.brixmor.com

Leadership team