Brixmor Property Group
American real estate trust
From Wikipedia, the free encyclopedia
Brixmor Property Group is a publicly traded real estate investment trust that invests in shopping centers.
Centro Properties Group US (2007–2011)
S&P 400 Component
Russell 1000 Index Component
 | |
| Formerly | Centro Watt (2003–2007) Centro Properties Group US (2007–2011) |
|---|---|
| Company type | Public company |
| NYSE: BRX S&P 400 Component Russell 1000 Index Component | |
| Industry | Real estate investment trust |
| Founded | 2003 (as Centro Watt) |
| Headquarters | 450 Lexington Avenue New York City |
Key people | James M. Taylor, CEO & President Sheryl M. Crosland, Chairman Steven T. Gallagher, CFO |
| Products | Shopping centers |
| Revenue |  $1.285 billion (2024) |
| $339 million (2024) | |
| Total assets | $8.908 billion (2024) |
| Total equity | $2.983 billion (2024) |
Number of employees | 454 (2024) |
| Website | www |
| Footnotes / references [1] | |
As of December 31, 2024, the company owned 363 shopping centers containing 64 million square feet of retail space. The company's largest markets are Florida (14.0% of revenues), Texas (11.9% of revenues), and California (11.7% of revenues). The company's largest tenants are TJX Companies (3.3% of revenues), Kroger (2.3% of revenues), and Burlington (2.1% of revenues).[1]
History
In late 2003, Centro Properties Group, an Australian shopping center firm, and American-based Watt Commercial Realty formed Centro Watt, a joint venture, and acquired 14 shopping centers in California for $488 million.[2] In 2005, Centro acquired Kramont Reality Trust for $1.2 billion.[3] In May 2006, Sydney-based Westfield Group sold seven shopping centers to Centro Watt.[4] In 2007, Centro acquired Watt Companies' ownership stake, ending the joint venture, and renamed the company Centro Properties Group US.[5]
In 2011, The Blackstone Group acquired Centro Properties Group US from Centro Retail Trust, and the entity changed its name to Brixmor.[6][7][8]
In 2012, the company hired Madison Marquette to manage 7 centers that were acquired from Westfield Group.[9]
In October 2013, the company became a public company via initial public offering.[10][11]
In April 2016, president and CEO Michael Carroll, CFO Michael Pappagallo, and chief accounting officer Steven Splain resigned after an accounting scandal.[12][13] Jim Taylor was named CEO and president.[14]
In August 2016, The Blackstone Group sold its stake in the company.[15]