Brixmor Property Group Inc. · NYSE:BRX
Brixmor Property — Investor Presentation (June 2020)
33 slides from Brixmor Property's investor presentation, Jun 1, 2020
Slide 1: Investor Presentation Quarter Ended March 31, 2020
Investor Presentation QUARTER ENDED MARCH 31, 2020 Exhibit 99.1
Slide 2: Quty celllely Uy you
Quty celllely Uy you
Slide 3: Who Is Brixmor / Portfolio Quick Facts
BRIXMOR? We are one of the largest open-air retail landlords in the US, with a nationally diversified portfolio of 400 shopping centers We strive for our properties to be the “centers of the communities we serve” by thoughtfully merchandising our centers with non-discretionary essential uses and val
Slide 4: Why invest with us at Brixmor?
Why invest with us at Brixmor?
Slide 5: Positioned to Outperform Over the Long-Term
POSITIONED TO OUTPERFORM OVER THE LONG-TERM We have a high quality, diversified portfolio of open-air shopping centers that serve essential consumer needs We own a retail product type that is well-positioned for the future We can generate attractive long-term growth at lower risk We benefit from a b
Slide 6: High quality, diversified portfolio of open-air shopping centers
We have a high quality, diversified portfolio of open-air shopping centers that serve essential consumer needs
Slide 7: Merchandise Mix Matters
MERCHANDISE MIX MATTERS WHY BRIXMOR? Portfolio Composition1 Essential 35% Hybrid 24% Other Retailers / Services 41% ~70% of centers are grocery-anchored 59% of portfolio ABR is derived from essential / hybrid retailers Merchandise Mix Composition1 Merchandise Mix % of Portfolio ABR % of April Rent C
Slide 8: Portfolio Diversification: Top Retailers and Geographic Diversity
Top Retailers by ABR Retailer Stores % of ABR % of GLA Credit Rating (S&P / Moody’s) 86 3.4% 3.7% A / A2 50 2.8% 4.7% BBB / Baa1 126 1.8% 2.1% BBB- / Baa3 26 1.6% 1.9% BB / Ba2 29 1.4% 1.8% NR 37 1.3% 1.4% BBB+ / A2 21 1.3% 1.6% BBB / Baa1 15 1.3% 0.9% CCC+ / Caa1 15 1.1% 1.2% B+ / B1 30 1.1% 1.1% B
Slide 9: Retail product type well-positioned for the future
We own a retail product type that is well-positioned for the future
Slide 10: Case Study: Village at Mira Mesa – San Diego, CA
Case Study: Village at Mira Mesa – San Diego, CA BRIXMOR CENTERS POSITIONED FOR THE FUTURE Key Characteristics COVID crisis has amplified key characteristics necessary for the success of retail centers WHY BRIXMOR? Proximity to consumer proving vital as more value is placed on time and convenience C
Slide 11: Importance of Brick & Mortar
IMPORTANCE OF BRICK & MORTAR Brixmor’s shopping centers offer flexibility for retailers and proximity to consumers to assist our tenants in utilizing BOPIS and curbside options to drive sales, engage safely with customers, and cut delivery costs WHY BRIXMOR? “In support of our digital strategy, we p
Slide 12: Attractive long-term growth at lower risk
We can generate attractive long-term growth at lower risk
Slide 13: Uniquely Positioned Portfolio
17% 88% 100% 68% UNIQUELY POSITIONED PORTFOLIO WHY BRIXMOR? More Upside Less Downside Proactive risk reduction and strategic remerchandising over the last four years have resulted in lower relative watchlist exposure Reducing exposure ↓ Increasing market share ↓ Attractive rent basis due to historic
Slide 14: Continued Opportunity to Invest in Assets & Drive Future Growth
CONTINUED OPPORTUNITY TO INVEST IN ASSETS & DRIVE FUTURE GROWTH At lower risk Effectively pre-leased Highly accretive returns Smaller project sizes / shorter timelines Incremental follow-on growth impact Small percent of enterprise value in program, with outsized impact No new ground-up development
Slide 15: Best-in-class national operating platform
We benefit from a best-in-class, fully integrated national operating platform with the capabilities necessary to maximize portfolio value
Slide 16: National Operating Platform
NATIONAL OPERATING PLATFORM Durable business plan proven before, during and after COVID-19 WHY BRIXMOR? Retooled platform and business plan Over the last four years, we have built a best-in-class operating platform Fully integrated, multi-disciplinary national operating platform positioned to drive
Slide 17: Helping Our Retailers Succeed During COVID-19
HELPING OUR RETAILERS SUCCEED DURING COVID-19 Ensuring we support local businesses through the crisis WHY BRIXMOR? BrixAssist Tenant Strategy Ongoing communications with tenants is our top priority Maintaining a robust BRX COVID resource website geared specifically to local, small shop tenants Provi
Slide 18: Disciplined capital allocation
We have a demonstrated track record of disciplined capital allocation
Slide 19: Portfolio and Platform Transformation
PORTFOLIO AND PLATFORM TRANSFORMATION PROVIDING STABILITY & GROWTH Actions taken over last four years have positioned Brixmor to navigate today’s environment and thrive as COVID-19 dissipates WHY BRIXMOR? Rationalized portfolio footprint Strengthened balance sheet Disciplined value enhancing reinves
Slide 20: Ability to Moderate Reinvestments During COVID-19
ABILITY TO MODERATE REINVESTMENTS DURING COVID-19 Curtailed spending on certain projects, reducing projected 2020 spend by $110M (including maintenance capital expenditures) Preserves precious liquidity in 2020, while maintaining the growth and long-term value creation embedded in signed leases Expe
Slide 21: Substantial liquidity and no near-term debt maturities
We have substantial liquidity and no near-term debt maturities, providing critical financial and operational flexibility
Slide 22: Balance Sheet Providing Maximum Flexibility
BALANCE SHEET PROVIDING MAXIMUM FLEXIBILITY $1.2B of available liquidity, comprised of ~$600M of cash and ~$600M of revolver capacity Entirely unencumbered portfolio, providing substantial financial and operational flexibility Dividend temporarily suspended, to be evaluated quarterly Committed to em
Slide 23: Committed to being socially responsible
We are committed to being socially responsible, guided by our mission to be the “center of the communities we serve”
Slide 24: Founded in the Well-Being of Our Stakeholders
FOUNDED IN THE WELL-BEING OF OUR STAKEHOLDERS Our Corporate Responsibility (CR) strategy is driven by our culture, our properties and our stakeholders and guided by our mission to be the centers of the communities we serve Brixmor’s Board of Directors oversees the CR strategy and drives its implemen
Slide 25: Partnership, Integrity & Commitment: Our Tenants During COVID-19
PARTNERSHIP, INTEGRITY & COMMITMENT Assisting our retailers to weather the current environment OUR TENANTS DURING COVID-19 Barret Place | Atlanta, GA Best Buy curb-side pick-up Safe disposal areas for gloves and masks Takeout and curb-side pickup signage Reserved parking signage for curb-side pickup
Slide 26: Being the Center of the Communities We Serve
BEING THE CENTER OF THE COMMUNITIES WE SERVE Safely supporting philanthropic and volunteer efforts including Food donation and pick-up locations supported by Brixmor through corporate donations and Facebook ads Hosting blood donation drives and mobile COVID testing centers, where feasible Facilitati
Slide 27: Communication, Connectivity & Support
COMMUNICATION, CONNECTIVITY & SUPPORT Seamlessly transitioned employees to work from home in early March Communication Initiated weekly all-employee calls “The Brixmor Daily” bulletins distributed with helpful hints and inspirations to combat working from home Conducted employee “check-in” survey an
Slide 28: Relevant, Vibrant, Sustainable
RELEVANT, VIBRANT, SUSTAINABLE Operating responsibly while reducing our environmental impact Reductions in electric / water usage and greenhouse gas emissions Conversion to LED lighting Development of on-site renewable energy through green lease provisions facilitating the installation of solar pane
Slide 29: Corporate Governance Leading the Industry
CORPORATE GOVERNANCE LEADING THE INDUSTRY OUR STAKEHOLDERS Ranked 1st of all public REITS in Green Street’s 2019 corporate governance rankings Unclassified Board of Directors Mandatory board retirement age of 75 Strong director and officer stock ownership No supermajority voting standards Majority v
Slide 30: Additional Information
Additional Information
Slide 31: General Info & Fundamentals: REITs
GENERAL INFO & FUNDAMENTALS REITs 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 advantages of inv
Slide 32: Footnotes & Sources
Footnotes & Sources
Slide 33: Footnotes & Sources: Disclaimer
FOOTNOTES & SOURCES DISCLAIMER Safe Harbor Language This presentation may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements include, but are not limited to, statements related to
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