NEW YORK, Nov. 5, 2026 /PRNewswire/ -- Brixmor Property Group Inc. (NYSE: BRX) ("Brixmor" or the "Company") announced today that its operating partnership, Brixmor Operating Partnership LP (the "Operating Partnership"), has closed on a new $400 million unsecured delayed-draw term loan facility (the "$400 million Term Loan Facility"). The $400 million Term Loan Facility matures on February 15, 2031, with one twelve-month extension option, and will initially bear interest at SOFR plus 80 basis points based on the Operating Partnership's current credit ratings and including the ability of the Company to obtain more favorable pricing in certain circumstances when the Company's leverage ratio meets defined targets. The Operating Partnership intends to use the proceeds from the $400 million Term Loan Facility to partially fund the previously announced acquisition of Slate Grocery REIT, as well as for other general corporate purposes.
Wells Fargo Securities, LLC acted as sole bookrunner, and Wells Fargo Securities, LLC, PNC Capital Markets LLC, Royal Bank of Canada and U.S. Bank National Association acted as joint lead arrangers for the $400 million Term Loan Facility. Wells Fargo Bank, National Association acted as administrative agent, and PNC Bank, National Association, Royal Bank of Canada and U.S. Bank National Association acted as documentation agents.
Additionally, the Operating Partnership amended its existing $1.25 billion unsecured revolving credit facility (the "Revolving Facility") and its existing $500 million term loan facility (the "Existing Term Loan Facility" and, together with the Revolving Facility, the "Facilities"). The current interest rates applicable to the Revolving Facility and Existing Term Loan Facility were effectively lowered to SOFR plus 72.5 basis points from SOFR plus 77.5 basis points and to SOFR plus 80 basis points from SOFR plus 85 basis points, respectively, based on the Operating Partnership's current credit ratings and including the ability of the Company to obtain more favorable pricing in certain circumstances when the Company's leverage ratio meets defined targets. The amendments did not change the size or maturity of the Facilities.
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ABOUT BRIXMOR PROPERTY GROUP
Brixmor (NYSE: BRX) owns and operates a high-quality, national portfolio of open-air shopping centers. The Company's 345 retail centers comprise approximately 62 million square feet of prime retail space in established trade areas (the "Portfolio"). Brixmor's properties reflect its 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 valued partner to a broad range of retailers, including The TJX Companies, The Kroger Co., Publix Super Markets and Ross Stores.
Brixmor announces material information to its investors in SEC filings and press releases and on public conference calls, webcasts and the "Investors" page of its website at https://www.brixmor.com. The Company also uses social media to communicate with its investors and the public, and the information Brixmor posts on social media may be deemed material information. Therefore, Brixmor encourages investors and others interested in the Company to review the information that it posts on its website and on its social media channels.
SAFE HARBOR LANGUAGE
This press release 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 our expectations regarding the performance of our business, our financial results, our liquidity and capital resources, and other non-historical statements. You can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "seeks," "projects," "predicts," "intends," "plans," "estimates," "anticipates," or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. We believe these factors include, but are not limited to, those described under the sections entitled "Forward-Looking Statements" and "Risk Factors" in our Form 10-K for the year ended December 31, 2025, and our Form 10-Q for the quarter ended September 30, 2026, as such factors may be updated from time to time in our periodic filings with the Securities and Exchange Commission (the "SEC"), which are accessible on the SEC's website at https://www.sec.gov. These factors include, but are not limited to: (1) changes in national, regional, and local economies, due to global events such as international geopolitical conflicts, international trade disputes, a foreign debt crisis, foreign currency volatility, or due to domestic issues, such as government policies and regulations, tariffs, energy prices, market dynamics, general economic contractions, ongoing levels of inflation and interest rates, unemployment, or limited growth in consumer income or spending; (2) local real estate market conditions, including an oversupply of space in, or a reduction in demand for, properties similar to those in our Portfolio; (3) competition from other available properties and e-commerce; (4) disruption and/or consolidation in the retail sector, the financial stability of our tenants, and the overall financial condition of large retailing companies, including their ability to pay rent and/or expense reimbursements that are due to us; (5) in the case of percentage rents, the sales volumes of our tenants; (6) increases in property operating expenses, including common area expenses, utilities, insurance, and real estate taxes, which are relatively inflexible and generally do not decrease if revenue or occupancy decrease; (7) increases in the costs to repair, renovate, and re-lease space; (8) earthquakes, wildfires, tornadoes, hurricanes, damage from rising sea levels due to climate change, other natural disasters, epidemics and/or pandemics, civil unrest, terrorist acts, or acts of war, any of which may result in uninsured or underinsured losses; (9) changes in laws and governmental regulations, including those governing usage, zoning, the environment, privacy, data security, intellectual property rights, and taxes; (10) cybersecurity incidents or other disruptions to information technology systems used by us, our tenants, or our vendors, which could compromise data or impair business operations; and (11) risks relating to the pending Slate Transaction, including the ability of us and the Everview JV to successfully and timely close the Slate Transaction, the risk we do not realize the expected benefits of the Slate Transaction or are subjected to unexpected liabilities and expenses, and the risk we are unable to successfully integrate the operations of the properties we are acquiring in the Slate Transaction or manage the Everview JV. Brixmor disclaims any obligation or undertaking to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by law.
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SOURCE Brixmor Property Group Inc.
