Brixmor Property Group Inc. (NYSE: BRX) announced today that the Company's Board of Directors has authorized a new three-year $400 million share repurchase program. The Company's prior share repurchase program expired on December 5, 2019. Under the prior program, the Company had repurchased 7.5 million shares of common stock at an average price per share of $16.72 for a total of approximately $125.0 million, excluding commissions. The Company also filed a Form 8-K with the SEC today related to a $400 million "at the market" stock offering program.

"The simultaneous re-adoption of our share repurchase and ATM programs will continue to provide Brixmor with maximum flexibility to capitalize on a wide range of potential capital markets environments and support the long-term execution of our balanced business plan," commented Angela Aman, Executive Vice President & Chief Financial Officer.

ABOUT BRIXMOR PROPERTY GROUP

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 409 retail centers comprise approximately 72 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.