Brixmor Property Group Inc. · NYSE:BRX
Brixmor Property — Q3 2022 Earnings Presentation
32 slides from Brixmor Property's earnings presentation, November 2022
Slide 1: Brixmor Property Group Investor Presentation
Brixmor Property Group Investor Presentation Quarter Ended September 30, 2022 Brea Gateway | Los Angeles, California
Slide 2: Brixmor Overview
Brixmor Overview Portfolio Quick Facts High quality, diversified, open-air retail portfolio Number of shopping centers 378 GLA 67M SF ❯ One of the largest open-air retail landlords in the US Average shopping center size 177K SF o Nationally diversified portfolio of 378 shopping centers in 116 CBSAs
Slide 3: Value-Add Leader in the Open-Air Retail Space
Value-Add • Transformed portfolio uniquely positioned for outperformance Leader in the • Demonstrated value creation through accretive reinvestment Open-Air • Prudent capital recycling track record Retail Space • Strong, flexible balance sheet • Committed to delivering long-term sustainable growth w
Slide 4: Transformed Portfolio Uniquely Positioned For Outperformance
Transformed Portfolio Uniquely Positioned For Outperformance
Slide 5: Transformed Portfolio Uniquely Positioned For Outperformance
Transformed Portfolio Uniquely Positioned For Outperformance Substantial portfolio enhancement achieved since year-end 2015 Leasing, value-enhancing reinvestment activity, and prudent capital recycling have driven a 26% increase in ABR PSF At At 12/31/2015 9/30/2022 Rationalized Portfolio Footprint
Slide 6: Significant outperformance since 2019
Transformed Portfolio Uniquely Positioned For Outperformance Significant outperformance since 2019 Same Property NOI Growth 1 New Lease Spreads 2 In-Place ABR PSF Change 2019 2020 2021 9M Ended 2019 2020 2021 9M Ended YE 2019 – 3Q22 2 9/30/22 9/30/22 Implied Total 34.3% Growth 8.8% 11.6% 31.7% 8.7%
Slide 7: Portfolio transformation driving continued outperformance across every observable metric
Transformed Portfolio Uniquely Positioned For Outperformance Portfolio transformation driving continued outperformance across every observable metric Leasing Highlights 3Q22 Total occupancy Small shop occupancy New Lease ABR PSF In-place ABR PSF 93.3% 88.8% $21.20 $16.02 Record high Record high Reco
Slide 8: Clear visibility on continued growth
Transformed Portfolio Uniquely Positioned For Outperformance Clear visibility on continued growth Mark-to-Market Opportunity Tailwinds From Executed Leasing ❯ Attractive rent basis due to historic portfolio under-investment and under- ❯ Leased to billed occupancy spread of 370 basis points managemen
Slide 9: Significant remaining occupancy opportunity
Transformed Portfolio Uniquely Positioned For Outperformance Significant remaining occupancy opportunity 3Q22 Notable Leases Executed ❭ Positioned to continue to grow occupancy by capitalizing on robust, broad based leasing demand ❭ Competitive anchor leasing environment is improving tenant quality
Slide 10: Vibrant new retailers added over the last three years
Transformed Portfolio Uniquely Positioned For Outperformance Vibrant new retailers added over the last three years Page 10
Slide 11: Thriving retailers continue to highlight the importance of brick and mortar
Transformed Portfolio Uniquely Positioned For Outperformance Thriving retailers continue to highlight the importance of brick and mortar, growing new store pipelines and introducing new formats and prototypes “The off-price business is much “On the long-term model, “As an off-price leader in every “
Slide 12: Demonstrated Value Creation Through Accretive Reinvestment
Demonstrated Value Creation Through Accretive Reinvestment
Slide 13: Creating value at lower risk
Demonstrated Value Creation Through Accretive Reinvestment Creating value at lower risk Creating value Highly accretive returns ❯ Brixmor’s reinvestment opportunity stands apart in terms of magnitude and velocity o Substantially funded with free cash flow on a deleveraging basis Incremental foll
Slide 14: Reinvestment is a value multiplier
Demonstrated Value Creation Through Accretive Reinvestment Reinvestment is a value multiplier Maximum value creation Strong incremental Follow-on growth in Cap rate compression returns occupancy and rate Representative Representative Redevelopment vs. Redevelopment Small Shop BRX Redevelopment Groun
Slide 15: Value delivered: Case study - Fox Run
Demonstrated Value Creation Through Accretive Reinvestment Value delivered: Case study Fox Run | Washington, D.C. $21M 8% ~$7M Invested 1 incremental NOI yield 2 value created 3 › Redevelopment of former Kmart and Peebles with Ross Dress for Less, Ulta, Five Below, Big Lots, and Planet Fitness › Con
Slide 16: Reinvestment expertise: Over 220 projects stabilized
Demonstrated Value Creation Through Accretive Reinvestment Reinvestment expertise: Over 220 projects stabilized Annex of Arlington I Arlington Heights, IL Page 16
Slide 17: Prudent Capital Recycling Track Record
Prudent Capital Recycling Track Record
Slide 18: Acquisitions and Dispositions
Prudent Capital Recycling Track Record Acquisitions Dispositions ❯ Selective acquisitions of high-quality shopping centers from ❯ Rationalizing the portfolio and harvesting capital where value has identified target list been maximized o Focusing on value-add transactions that leverage the platform o
Slide 19: Maximizing value through value-add acquisitions
Prudent Capital Recycling Track Record Maximizing value through value-add acquisitions in established markets that leverage Brixmor’s proven platform Centennial Center Champlin Marketplace Ravinia Plaza North Riverside Plaza Elmhurst Crossing Arborland Center Plymouth Square Denver, CO Minneapolis,
Slide 20: Strong, Flexible Balance Sheet
Strong, Flexible Balance Sheet
Slide 21: Balance sheet provides critical financial and operational flexibility
Strong, Flexible Balance Sheet Balance sheet provides critical financial and operational flexibility Capitalization & Ratios (at 9/30/22) Debt Statistics ❯ Substantial liquidity and capacity Weighted avg. stated interest rate 3.7% Weighted avg. maturity 5.1 years o $1.3B of liquidity Fixed / Variabl
Slide 22: Purpose-Driven Commitment To Environmental, Social, And Governance Issues
Purpose-Driven Commitment To Environmental, Social, And Governance Issues
Slide 23: Corporate Responsibility Recognition
Purpose-Driven Commitment To ESG Issues Corporate Responsibility Recognition 2022 Green Star Recipient for the sixth consecutive • Oversees our Corporate Responsibility (CR) and Environment, Social, and Board of year Governance (ESG) initiatives through the Nominating and Corporate Directors • Rec
Slide 24: Sustainability Goals
Purpose-Driven Commitment To ESG Issues Sustainability Goals Environmental responsibility Target Status 1 Install electric vehicle 25% 11% Reducing environmental impact charging stations by 2025 (% of portfolio) ❯ Driving energy efficiency: LED lighting, motion sensor ❯ Minimizing water consumption:
Slide 25: Community Outreach
Purpose-Driven Commitment To ESG Issues Community Outreach Community connectivity Artistic Connection James Island, SC • During renovations at Island Plaza in James Island, SC, David ❯ Thoughtfully merchandising our centers to meet the needs of the communities we serve Carpio, Senior Property Manage
Slide 26: Human capital management
Purpose-Driven Commitment To ESG Issues Human capital management – creating and sustaining a positive work environment Engagement Development Health and Well-being Promoting a supportive and inclusive environment that Encouraging growth through professional and Supporting employee health through enc
Slide 27: Diversity, Equity, and Inclusion (DEI)
Purpose-Driven Commitment To ESG Issues Diversity, Equity, and Inclusion (DEI) Diversity, equity, and inclusion Leadership Council • Reports directly to We believe our success is driven by an inclusive environment that reflects the diversity CEO and is supported of the communities we serve and we ad
Slide 28: Corporate governance and Board of Directors
Purpose-Driven Commitment To ESG Issues Experienced, diversified, and effective Board of Corporate governance Directors 8/9 1/3 1/9 Independent Female Directors African American Leading the industry Directors Directors Ranked second in REIT sector for Corporate Governance* 61 years 6 years >75% Aver
Slide 29: Select 2021 ESG performance indicators
Purpose-Driven Commitment To ESG Issues Select 2021 ESG performance indicators Reducing Our Impact Building A Stronger Brixmor Positioned For Growth GHG Emissions (tonnes CO2e) 2020 2021 99% 67% Of Board members have expertise in corporate Scope 1 GHG emissions 3,772 3,724 Of employees feel proud to
Slide 30: Additional Information
Additional Information
Slide 31: REITs: General information and fundamentals
REITs General information and fundamentals What is a REIT? A REIT, or Real Estate Investment Trust, is a company that owns, operates or finances income-producing real estate. Modeled after mutual funds, REITs give all investors access to the benefits of real estate investment along with the advantag
Slide 32: Footnotes & Sources
Footnotes & Sources Page 2 Brixmor Overview Page 8 Transformed Portfolio Uniquely Positioned For Outperformance High quality, diversified, open-air retail portfolio Clear visibility on continued growth 1. By ABR. Community Centers include properties with total GLA between 125K - 400K SF. Neighborhoo
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