Brixmor Property (BRX) 10-Q1 May 232023 Q1 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	3 Months Ended
Cover Page - shares	Mar. 31, 2023	Apr. 01, 2023
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Document Transition Report	false
Entity File Number	001-36160
Entity Registrant Name	Brixmor Property Group Inc.
Entity Central Index Key	0001581068
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	45-2433192
Entity Address, Address Line One	450 Lexington Avenue
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10017
City Area Code	212
Local Phone Number	869-3000
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	BRX
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		300,547,690
Brixmor Operating Partnership LP [Member]
Entity Information [Line Items]
Document Type	10-Q
Document Period End Date	Mar. 31, 2023
Entity File Number	333-268091-01
Entity Registrant Name	Brixmor Operating Partnership LP
Entity Central Index Key	0001630031
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--03-31
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	80-0831163
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Real estate
Land	$ 1,806,186	$ 1,820,358
Buildings and improvements	9,051,939	9,077,993
Real estate, gross	10,858,125	10,898,351
Accumulated depreciation and amortization	(3,022,868)	(2,996,759)
Real estate, net	7,835,257	7,901,592
Cash and cash equivalents	3,430	16,492
Restricted cash	31,999	4,767
Marketable securities	20,642	21,669
Receivables, net	246,914	264,146
Deferred charges and prepaid expenses, net	157,034	154,141
Real estate assets held for sale	0	10,439
Other assets	59,522	62,684
Total assets	8,354,798	8,435,930
Liabilities
Debt obligations, net	4,958,480	5,035,501
Accounts payable, accrued expenses and other liabilities	508,802	535,419
Total liabilities	5,467,282	5,570,920
Commitments and contingencies (Note 15)	0	0
Equity
Common stock	3,005	2,999
Additional paid-in capital	3,292,779	3,299,496
Accumulated other comprehensive income	5,120	8,851
Distributions in excess of net income	(413,388)	(446,336)
Total equity	2,887,516	2,865,010
Total liabilities and equity	8,354,798	8,435,930
Brixmor Operating Partnership LP
Real estate
Land	1,806,186	1,820,358
Buildings and improvements	9,051,939	9,077,993
Real estate, gross	10,858,125	10,898,351
Accumulated depreciation and amortization	(3,022,868)	(2,996,759)
Real estate, net	7,835,257	7,901,592
Cash and cash equivalents	3,430	15,565
Restricted cash	31,999	4,767
Marketable securities	20,642	21,669
Receivables, net	246,914	264,146
Deferred charges and prepaid expenses, net	157,034	154,141
Real estate assets held for sale	0	10,439
Other assets	59,522	62,684
Total assets	8,354,798	8,435,003
Liabilities
Debt obligations, net	4,958,480	5,035,501
Accounts payable, accrued expenses and other liabilities	508,828	535,419
Total liabilities	5,467,308	5,570,920
Commitments and contingencies (Note 15)	0	0
Equity
Common stock	2,882,370	2,855,232
Accumulated other comprehensive income	5,120	8,851
Total equity	2,887,490	2,864,083
Total liabilities and equity	$ 8,354,798	$ 8,435,003

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2023	Dec. 31, 2022
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	3,000,000,000	3,000,000,000
Common stock, shares issued	309,674,682	309,042,754
Common stock, shares outstanding	300,547,690	299,915,762
Brixmor Operating Partnership LP
Common stock, shares issued	309,674,682	309,042,754
Common stock, shares outstanding	300,547,690	299,915,762

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenues
Rental income	$ 311,130	$ 298,362
Other revenues	314	267
Total revenues	311,444	298,629
Operating expenses
Operating costs	35,895	34,796
Real estate taxes	44,688	41,640
Depreciation and amortization	87,741	84,222
Impairment of real estate assets	1,100	4,590
General and administrative	29,172	28,000
Total operating expenses	198,596	193,248
Other income (expense)
Dividends and interest	15	75
Interest expense	(48,680)	(47,322)
Gain on sale of real estate assets	48,468	21,911
Other	(405)	(539)
Total other expense	(602)	(25,875)
Net income	$ 112,246	$ 79,506
Earnings Per Share [Abstract]
Basic (usd per share)	$ 0.37	$ 0.27
Diluted (usd per share)	$ 0.37	$ 0.26
Weighted average shares:
Basic (in shares)	300,821	298,528
Diluted (in shares)	301,833	299,457
Brixmor Operating Partnership LP
Revenues
Rental income	$ 311,130	$ 298,362
Other revenues	314	267
Total revenues	311,444	298,629
Operating expenses
Operating costs	35,895	34,796
Real estate taxes	44,688	41,640
Depreciation and amortization	87,741	84,222
Impairment of real estate assets	1,100	4,590
General and administrative	29,172	28,000
Total operating expenses	198,596	193,248
Other income (expense)
Dividends and interest	15	75
Interest expense	(48,680)	(47,322)
Gain on sale of real estate assets	48,468	21,911
Other	(405)	(539)
Total other expense	(602)	(25,875)
Net income	$ 112,246	$ 79,506
Earnings Per Share [Abstract]
Basic (usd per share)	$ 0.37	$ 0.27
Diluted (usd per share)	$ 0.37	$ 0.26
Weighted average shares:
Basic (in shares)	300,821	298,528
Diluted (in shares)	301,833	299,457

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Net income	$ 112,246	$ 79,506
Other comprehensive income (loss)
Change in unrealized gain (loss) on interest rate swaps, net (Note 6)	(3,988)	11,281
Change in unrealized gain (loss) on marketable securities	257	(329)
Total other comprehensive income (loss)	(3,731)	10,952
Comprehensive income	108,515	90,458
Brixmor Operating Partnership LP
Net income	112,246	79,506
Other comprehensive income (loss)
Change in unrealized gain (loss) on interest rate swaps, net (Note 6)	(3,988)	11,282
Change in unrealized gain (loss) on marketable securities	257	(329)
Total other comprehensive income (loss)	(3,731)	10,953
Comprehensive income	$ 108,515	$ 90,459

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Brixmor Operating Partnership LP	Common Stock	Common Stock Brixmor Operating Partnership LP	Additional Paid-in Capital	Additional Paid-in Capital Brixmor Operating Partnership LP	Accumulated Other Comprehensive Income (Loss)	Distributions in Excess of Net Income
Beginning balance (in shares) at Dec. 31, 2021			297,210
Beginning balance at Dec. 31, 2021	$ 2,718,346	$ 2,703,188	$ 2,972	$ 2,715,863	$ 3,231,732	$ (12,675)	$ (12,674)	$ (503,684)
Increase (Decrease) in Equity [Roll Forward]
Common stock dividends	(73,156)	(64,527)		(64,527)				(73,156)
Equity based compensation expense	4,620	4,620		4,620	4,620
Other comprehensive income (loss)	10,952	10,953				10,953	10,952
Issuance of common stock (in shares)			2,278
Issuance of common stock	43,848	43,848	$ 23	43,848	43,825
Share-based awards retained for taxes	(10,458)	(10,458)		(10,458)	(10,458)
Net income	79,506	79,506		79,506				79,506
Ending balance (in shares) at Mar. 31, 2022			299,488
Ending balance at Mar. 31, 2022	$ 2,773,658	2,767,130	$ 2,995	2,768,852	3,269,719	(1,722)	(1,722)	(497,334)
Increase (Decrease) in Equity [Roll Forward]
Dividends, per common share (in dollars per share)	$ 0.240
Beginning balance (in shares) at Dec. 31, 2022			299,916
Beginning balance at Dec. 31, 2022	$ 2,865,010	2,864,083	$ 2,999	2,855,232	3,299,496	8,851	8,851	(446,336)
Increase (Decrease) in Equity [Roll Forward]
Common stock dividends	(79,298)	(78,397)		(78,397)				(79,298)
Equity based compensation expense	4,518	4,518		4,518	4,518
Other comprehensive income (loss)	(3,731)	(3,731)				(3,731)	(3,731)
Issuance of common stock (in shares)			632
Issuance of common stock	0		$ 6		(6)
Share-based awards retained for taxes	(11,229)	(11,229)		(11,229)	(11,229)
Net income	112,246	112,246		112,246				112,246
Ending balance (in shares) at Mar. 31, 2023			300,548
Ending balance at Mar. 31, 2023	$ 2,887,516	$ 2,887,490	$ 3,005	$ 2,882,370	$ 3,292,779	$ 5,120	$ 5,120	$ (413,388)
Increase (Decrease) in Equity [Roll Forward]
Dividends, per common share (in dollars per share)	$ 0.260

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Stockholders' Equity [Abstract]
Dividends, per common share (in dollars per share)	$ 0.260	$ 0.240

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parent) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Operating activities:
Net income	$ 112,246	$ 79,506
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	87,741	84,222
Accretion of debt premium and discount, net	(716)	(716)
Deferred financing cost amortization	1,755	1,766
Accretion of above- and below-market leases, net	(3,389)	(2,971)
Tenant inducement amortization and other	804	1,048
Impairment of real estate assets	1,100	4,590
Gain on sale of real estate assets	(48,468)	(21,911)
Equity based compensation	4,191	4,315
Changes in operating assets and liabilities:
Receivables, net	15,578	(4,682)
Deferred charges and prepaid expenses	(11,815)	(8,605)
Other assets	(215)	(180)
Accounts payable, accrued expenses and other liabilities	(23,758)	(24,122)
Net cash provided by operating activities	135,054	112,260
Investing activities:
Improvements to and investments in real estate assets	(72,376)	(70,121)
Acquisitions of real estate assets	0	(164,262)
Proceeds from sales of real estate assets	119,659	58,870
Purchase of marketable securities	(6,162)	(8,844)
Proceeds from sale of marketable securities	7,364	9,420
Net cash provided by (used in) investing activities	48,485	(174,937)
Financing activities:
Repayment of borrowings under unsecured revolving credit facility	(195,000)	(115,000)
Proceeds from borrowings under unsecured revolving credit facility	117,000	210,000
Repayment of borrowings under unsecured term loans and notes	0	(250,000)
Deferred financing and debt extinguishment costs	(60)	0
Proceeds from issuances of common shares	0	43,871
Distributions to common stockholders	(80,080)	(73,095)
Repurchases of common shares in conjunction with equity award plans	(11,229)	(10,458)
Net cash used in financing activities	(169,369)	(194,682)
Net change in cash, cash equivalents and restricted cash	14,170	(257,359)
Cash, cash equivalents and restricted cash at beginning of period	21,259	297,743
Cash, cash equivalents and restricted cash at end of period	35,429	40,384
Reconciliation to consolidated balance sheets:
Cash and cash equivalents	3,430	31,567
Restricted cash	31,999	8,817
Cash, cash equivalents and restricted cash at end of period	35,429	40,384
Supplemental disclosure of cash flow information:
Cash paid for interest, net of amount capitalized of $949 and $677	$ 50,250	$ 48,491

CONDENSED CONSOLIDATED STATEM_6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (OP) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Net income	$ 112,246	$ 79,506
Depreciation, Depletion and Amortization	87,741	84,222
Amortization of Debt Discount (Premium)	(716)	(716)
Deferred financing cost amortization	1,755	1,766
Accretion of above- and below-market leases, net	(3,389)	(2,971)
Tenant inducement amortization and other	804	1,048
Impairment of Real Estate	1,100	4,590
Gain on sale	(48,468)	(21,911)
Equity based compensation	4,191	4,315
Increase (Decrease) in Accounts and Other Receivables	15,578	(4,682)
Deferred charges and prepaid expenses	(11,815)	(8,605)
Other assets	(215)	(180)
Increase Decrease In Other Liabilities And Due To Related Parties	(23,758)	(24,122)
Net cash provided by operating activities	135,054	112,260
Payments to Develop Real Estate Assets	(72,376)	(70,121)
Acquisitions of real estate assets	0	(164,262)
Proceeds from sales of real estate assets	119,659	58,870
Payments to Acquire Marketable Securities	(6,162)	(8,844)
Proceeds from sale of marketable securities	7,364	9,420
Net cash provided by (used in) investing activities	48,485	(174,937)
Repayment of borrowings under unsecured revolving credit facility	(195,000)	(115,000)
Proceeds from borrowings under unsecured revolving credit facility	117,000	210,000
Repayment of borrowings under unsecured term loans and notes	0	(250,000)
Payments of Financing Costs	(60)	0
Proceeds from issuances of common shares	0	43,871
Net cash used in financing activities	(169,369)	(194,682)
Net change in cash, cash equivalents and restricted cash	14,170	(257,359)
Cash, cash equivalents and restricted cash at end of period	35,429	40,384
Cash and cash equivalents	3,430	31,567
Restricted cash	31,999	8,817
Supplemental Financial Information [Line Items]
Cash and cash equivalents	3,430	31,567
Restricted cash	31,999	8,817
Cash, cash equivalents and restricted cash at end of period	35,429	40,384
Cash paid for interest, net of amount capitalized of $949 and $677	50,250	48,491
Brixmor Operating Partnership LP
Net income	112,246	79,506
Depreciation, Depletion and Amortization	87,741	84,222
Amortization of Debt Discount (Premium)	(716)	(716)
Deferred financing cost amortization	1,755	1,766
Accretion of above- and below-market leases, net	(3,389)	(2,971)
Tenant inducement amortization and other	804	1,048
Impairment of Real Estate	1,100	4,590
Gain on sale	(48,468)	(21,911)
Equity based compensation	4,191	4,315
Increase (Decrease) in Accounts and Other Receivables	15,578	(4,682)
Deferred charges and prepaid expenses	(11,815)	(8,605)
Other assets	(215)	(180)
Increase Decrease In Other Liabilities And Due To Related Parties	(23,758)	(24,122)
Net cash provided by operating activities	135,054	112,260
Payments to Develop Real Estate Assets	(72,376)	(70,121)
Acquisitions of real estate assets	0	(164,262)
Proceeds from sales of real estate assets	119,659	58,870
Payments to Acquire Marketable Securities	(6,162)	(8,844)
Proceeds from sale of marketable securities	7,364	9,420
Net cash provided by (used in) investing activities	48,485	(174,937)
Repayment of borrowings under unsecured revolving credit facility	(195,000)	(115,000)
Proceeds from borrowings under unsecured revolving credit facility	117,000	210,000
Repayment of borrowings under unsecured term loans and notes	0	(250,000)
Payments of Financing Costs	(60)	0
Proceeds from issuances of common shares	0	43,871
Partner distributions and repurchases of OP Units	(90,382)	(74,923)
Net cash used in financing activities	(168,442)	(186,052)
Net change in cash, cash equivalents and restricted cash	15,097	(248,729)
Cash, cash equivalents and restricted cash at end of period	35,429	33,856
Cash and cash equivalents	3,430	25,039
Restricted cash	31,999	8,817
Supplemental Financial Information [Line Items]
Cash and cash equivalents	3,430	25,039
Restricted cash	31,999	8,817
Cash, cash equivalents and restricted cash at end of period	35,429	33,856
Cash paid for interest, net of amount capitalized of $949 and $677	$ 50,250	$ 48,491

CONDENSED CONSOLIDATED STATEM_7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Interest paid, capitalized	$ 949	$ 677
Brixmor Operating Partnership LP
Interest paid, capitalized	$ 949	$ 677

Acquisition of Real Estate

Acquisition of Real Estate	3 Months Ended
Acquisition of Real Estate	Mar. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Acquisition of Real Estate	Acquisition of Real Estate During the three months ended March 31, 2023, the Company did not acquire any assets. During the three months ended March 31, 2022, the Company acquired the following assets, in separate transactions: Description (1)(2) Location Month Acquired GLA Aggregate Purchase Price (3) Brea Gateway Brea, CA Jan-22 181,819 $ 83,991 Land at Cobblestone Village St. Augustine, FL Jan-22 N/A 1,661 Arboretum Village Dallas, TX Jan-22 95,354 46,330 Ravinia Plaza Orland Park, IL Feb-22 101,800 26,160 Adjustments related to previously acquired assets Various Various N/A 50 378,973 158,192 (1) No debt was assumed related to any of the listed acquisitions. (2) In addition, during the three months ended March 31, 2022, the Company funded $6.1 million of deposits on assets that were under contract to be acquired. (3) Aggregate purchase price includes $0.8 million of transaction costs, offset by $2.0 million of closing credits. The aggregate purchase price of the assets acquired during the three months ended March 31, 2022, has been allocated as follows: Three Months Ended March 31, Assets (1) 2022 Land $ 44,600 Buildings 100,883 Building and tenant improvements 14,917 Above-market leases (2) 543 In-place leases (3) 10,319 Total assets acquired $ 171,262 Liabilities Below-market leases (4) $ 11,244 Other liabilities 1,826 Total liabilities 13,070 Net assets acquired $ 158,192 (1) In addition, during the three months ended March 31, 2022, the Company funded $6.1 million of deposits on assets that were under contract to be acquired. (2) The weighted average amortization period at the time of acquisition for above-market leases related to assets acquired during the three months ended March 31, 2022 was 6.4 years. (3) The weighted average amortization period at the time of acquisition for in-place leases related to assets acquired during the three months ended March 31, 2022 was 12.2 years. (4) The weighted average amortization period at the time of acquisition for below-market leases related to assets acquired during the three months ended March 31, 2022 was 19.8 years.

CONDENSED CONSOLIDATED STATEM_8

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN CAPITAL - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 2,887,516	$ 2,773,658	$ 2,865,010	$ 2,718,346
Partners' Capital Account, Distributions	(79,298)	(73,156)
Equity based compensation expense	4,518	4,620
Other comprehensive income (loss)	(3,731)	10,952
Issuance of common stock	0	43,848
Share-based awards retained for taxes	(11,229)	(10,458)
Net income	112,246	79,506
Common Stock
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	3,005	2,995	2,999	2,972
Issuance of common stock	6	23
Additional Paid-in Capital
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	3,292,779	3,269,719	3,299,496	3,231,732
Equity based compensation expense	4,518	4,620
Issuance of common stock	(6)	43,825
Share-based awards retained for taxes	(11,229)	(10,458)
Brixmor Operating Partnership LP
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	2,887,490	2,767,130	2,864,083	2,703,188
Partners' Capital Account, Distributions	(78,397)	(64,527)
Equity based compensation expense	4,518	4,620
Other comprehensive income (loss)	(3,731)	10,953
Issuance of common stock		43,848
Share-based awards retained for taxes	(11,229)	(10,458)
Net income	112,246	79,506
Brixmor Operating Partnership LP \| Common Stock
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	2,882,370	2,768,852	2,855,232	2,715,863
Partners' Capital Account, Distributions	(78,397)	(64,527)
Equity based compensation expense	4,518	4,620
Issuance of common stock		43,848
Share-based awards retained for taxes	(11,229)	(10,458)
Net income	112,246	79,506
Brixmor Operating Partnership LP \| Additional Paid-in Capital
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	5,120	(1,722)	$ 8,851	$ (12,675)
Other comprehensive income (loss)	$ (3,731)	$ 10,953

Nature of Business and Financia

Nature of Business and Financial Statement Presentation	3 Months Ended
Nature of Business and Financial Statement Presentation	Mar. 31, 2023
Accounting Policies [Abstract]
Nature of Business and Financial Statement Presentation	Nature of Business and Financial Statement Presentation Description of Business Brixmor Property Group Inc. and subsidiaries (collectively, the “Parent Company”) is an internally-managed corporation that has elected to be taxed as a real estate investment trust (“REIT”). Brixmor Operating Partnership LP and subsidiaries (collectively, the “Operating Partnership”) is the entity through which the Parent Company conducts substantially all of its operations and owns substantially all of its assets. The Parent Company owns 100% of the limited liability company interests of BPG Subsidiary LLC (“BPG Sub”), which, in turn, is the sole member of Brixmor OP GP LLC (the “General Partner”), the sole general partner of the Operating Partnership. The Parent Company engages in the ownership, management, leasing, acquisition, disposition, and redevelopment of retail shopping centers through the Operating Partnership, and has no other substantial assets or liabilities other than through its investment in the Operating Partnership. The Parent Company, the Operating Partnership, and their controlled subsidiaries on a consolidated basis (collectively, the “Company” or “Brixmor”) owns and operates one of the largest publicly-traded open-air retail portfolios by gross leasable area (“GLA”) in the United States (“U.S.”), comprised primarily of community and neighborhood shopping centers. As of March 31, 2023, the Company’s portfolio was comprised of 367 shopping centers (the “Portfolio”) totaling approximately 65 million square feet of GLA. The Company’s high-quality national Portfolio is primarily located within established trade areas in the top 50 Core-Based Statistical Areas in the U.S., and its shopping centers are primarily anchored by non-discretionary and value-oriented retailers, as well as consumer-oriented service providers. The Company does not distinguish its principal business or group its operations on a geographical basis for purposes of measuring performance. Accordingly, the Company has a single reportable segment for disclosure purposes in accordance with U.S. generally accepted accounting principles (“GAAP”). Basis of Presentation The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with GAAP for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for the fair presentation of the unaudited Condensed Consolidated Financial Statements for the periods presented have been included. The operating results for the periods presented are not necessarily indicative of the results that may be expected for a full fiscal year. These financial statements should be read in conjunction with the financial statements for the year ended December 31, 2022 and accompanying notes included in the Company’s annual report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on February 13, 2023. Principles of Consolidation The accompanying unaudited Condensed Consolidated Financial Statements include the accounts of the Parent Company, the Operating Partnership, each of their wholly owned subsidiaries, and all other entities in which they have a controlling financial interest. All intercompany transactions have been eliminated. Income Taxes The Parent Company has elected to qualify as a REIT in accordance with the Internal Revenue Code of 1986, as amended (the “Code”). To qualify as a REIT, the Parent Company must meet several organizational and operational requirements, including a requirement that it annually distribute to its stockholders at least 90% of its REIT taxable income, determined without regard to the deduction for dividends paid and excluding net capital gains. Management intends to continue to satisfy these requirements and maintain the Parent Company's REIT status. As a REIT, the Parent Company generally will not be subject to U.S. federal income tax, provided that distributions to its stockholders equal at least the amount of its REIT taxable income as defined under the Code. The Parent Company conducts substantially all of its operations through the Operating Partnership, which is organized as a limited partnership and treated as a pass-through entity for U.S. federal tax purposes. Therefore, U.S. federal income taxes do not materially impact the unaudited Condensed Consolidated Financial Statements of the Company. If the Parent Company fails to qualify as a REIT in any taxable year, it will be subject to U.S. federal taxes at regular corporate rates and may not be able to qualify as a REIT for the four subsequent taxable years. Even if the Parent Company qualifies for taxation as a REIT, the Parent Company is subject to certain state and local taxes on its income and property, and to U.S. federal income and excise taxes on its undistributed taxable income as well as other income items, as applicable. The Parent Company has elected to treat certain of its subsidiaries as taxable REIT subsidiaries (each a “TRS”), and the Parent Company may in the future elect to treat newly formed and/or other existing subsidiaries as TRSs. A TRS may participate in non-real estate related activities and/or perform non-customary services for tenants and is subject to certain limitations under the Code. A TRS is subject to U.S. federal, state, and local income taxes at regular corporate rates. Income taxes related to the Parent Company’s TRSs do not materially impact the unaudited Condensed Consolidated Financial Statements of the Company. The Company has considered the tax positions taken for the open tax years and has concluded that no provision for income taxes related to uncertain tax positions is required in the Company’s unaudited Condensed Consolidated Financial Statements as of March 31, 2023 and December 31, 2022. Open tax years generally range from 2019 through 2022 but may vary by jurisdiction and issue. The Company recognizes penalties and interest accrued related to unrecognized tax benefits as income tax expense, which is included in Other on the Company’s unaudited Condensed Consolidated Statements of Operations. New Accounting Pronouncements Any recently issued accounting standards or pronouncements have been excluded as they either are not relevant to the Company, or they are not expected to have a material impact on the unaudited Condensed Consolidated Financial Statements of the Company.

Dispositions and Assets Held fo

Dispositions and Assets Held for Sale	3 Months Ended
Dispositions and Assets Held for Sale	Mar. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]
Dispositions and Assets Held for Sale	Dispositions and Assets Held for Sale During the three months ended March 31, 2023, the Company disposed of six shopping centers and two partial shopping centers for aggregate net proceeds of $119.7 million, resulting in aggregate gain of $48.5 million. During the three months ended March 31, 2022, the Company disposed of five shopping centers and one partial shopping center for aggregate net proceeds of $58.9 million, resulting in aggregate gain of $21.8 million and aggregate impairment of $1.1 million. In addition, during the three months ended March 31, 2022, the Company resolved contingencies related to previously disposed assets, resulting in net gain of $0.1 million. As of March 31, 2023, the Company had no properties held for sale. As of December 31, 2022, the Company had one property and two partial properties held for sale. There were no liabilities associated with the properties classified as held for sale. The following table presents the assets associated with the properties classified as held for sale as of December 31, 2022: Assets December 31, 2022 Land $ 1,988 Buildings and improvements 13,864 Accumulated depreciation and amortization (5,625) Real estate, net 10,227 Other assets 212 Assets associated with real estate assets held for sale $ 10,439

Real Estate

Real Estate	3 Months Ended
Real Estate	Mar. 31, 2023
Real Estate [Abstract]
Real Estate	Real Estate The Company’s components of Real estate, net consisted of the following: March 31, 2023 December 31, 2022 Land $ 1,806,186 $ 1,820,358 Buildings and improvements: Buildings and tenant improvements 8,526,051 8,535,279 Lease intangibles (1) 525,888 542,714 10,858,125 10,898,351 Accumulated depreciation and amortization (2) (3,022,868) (2,996,759) Total $ 7,835,257 $ 7,901,592 (1) As of March 31, 2023 and December 31, 2022, Lease intangibles consisted of $475.8 million and $492.0 million, respectively, of in-place leases and $50.1 million and $50.7 million, respectively, of above-market leases. These intangible assets are amortized over the term of each related lease. (2) As of March 31, 2023 and December 31, 2022, Accumulated depreciation and amortization included $453.4 million and $465.2 million, respectively, of accumulated amortization related to Lease intangibles. In addition, as of March 31, 2023 and December 31, 2022, the Company had intangible liabilities relating to below-market leases of $339.9 million and $349.7 million, respectively, and accumulated accretion of $247.0 million and $252.9 million, respectively. These intangible liabilities are included in Accounts payable, accrued expenses and other liabilities on the Company’s unaudited Condensed Consolidated Balance Sheets. Below-market lease accretion income, net of above-market lease amortization for the three months ended March 31, 2023 and 2022 was $3.4 million and $3.0 million, respectively. These amounts are included in Rental income on the Company’s unaudited Condensed Consolidated Statements of Operations. Amortization expense associated with in-place lease value for the three months ended March 31, 2023 and 2022 was $4.5 million and $4.1 million, respectively. These amounts are included in Depreciation and amortization on the Company’s unaudited Condensed Consolidated Statements of Operations. The Company’s estimated below-market lease accretion income, net of above-market lease amortization expense, and in-place lease amortization expense for the next five years are as follows: Year ending December 31, Below-market lease accretion (income), net of above-market lease amortization expense In-place lease amortization expense 2023 (remaining nine months) $ (7,627) $ 11,095 2024 (9,565) 11,908 2025 (8,302) 8,762 2026 (7,267) 6,303 2027 (6,173) 4,805

Impairments

Impairments	3 Months Ended
Impairments	Mar. 31, 2023
Impairment of Real Estate [Abstract]
Impairments	ImpairmentsManagement periodically assesses whether there are any indicators, including property operating performance, changes in anticipated hold period, and general market conditions, that the carrying value of the Company’s real estate assets (including any related intangible assets or liabilities) may be impaired. If management determines that the carrying value of a real estate asset is impaired, an impairment charge is recognized to reflect the estimated fair value. The Company recognized the following impairments during the three months ended March 31, 2023: Three Months Ended March 31, 2023 Property Name (1) Location GLA Impairment Charge The Manchester Collection - Crossroads Manchester, CT 172,474 $ 1,100 172,474 $ 1,100 (1) The Company recognized an impairment charge based upon offers from third-party buyers in connection with the Company’s capital recycling program. The Company recognized the following impairments during the three months ended March 31, 2022: Three Months Ended March 31, 2022 Property Name (1) Location GLA Impairment Charge Torrington Plaza (2) Torrington, CT 125,496 $ 3,502 New Garden Center (2) Kennett Square, PA 147,370 1,088 272,866 $ 4,590 (1) The Company recognized impairment charges based upon changes in the anticipated hold periods of these properties and/or offers from third-party buyers in connection with the Company’s capital recycling program. (2) The Company disposed of this property during the year ended December 31, 2022. The Company can provide no assurance that material impairment charges with respect to its Portfolio will not occur in future periods. See Note 3 for additional information regarding impairment charges taken in connection with the Company’s dispositions. See Note 8 for additional information regarding the fair value of operating properties that have been impaired.

Financial Instruments - Derivat

Financial Instruments - Derivatives and Hedging	3 Months Ended
Financial Instruments - Derivatives and Hedging	Mar. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Financial Instruments - Derivatives and Hedging	Financial Instruments – Derivatives and Hedging The Company’s use of derivative instruments is intended to manage its exposure to interest rate movements and such instruments are not utilized for speculative purposes. In certain situations, the Company may enter into derivative financial instruments such as interest rate swap agreements and interest rate cap agreements that result in the receipt and/or payment of future known and uncertain cash amounts, the value of which are determined by interest rates. Cash Flow Hedges of Interest Rate Risk Interest rate swaps designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchanging the underlying notional amount. The Company utilizes interest rate swaps to partially hedge the cash flows associated with variable-rate debt. During the three months ended March 31, 2023, the Company entered into three forward starting interest rate swap agreements with an effective date of May 1, 2023, an aggregate notional amount of $200.0 million, a weighted average fixed rate of 3.59%, and an expiration date of July 26, 2027. During the year ended December 31, 2022, the Company did not enter into any new interest rate swap agreements. Detail on the Company’s interest rate derivatives designated as cash flow hedges outstanding as of March 31, 2023 and December 31, 2022 is as follows: Number of Instruments Notional Amount March 31, 2023 December 31, 2022 March 31, 2023 December 31, 2022 Interest Rate Swaps (1) 7 4 $ 500,000 $ 300,000 (1) Interest Rate Swaps outstanding as of March 31, 2023 include three forward interest rate swap agreements with an effective date of May 1, 2023 and aggregate notional amount of $200.0 million. The Company has elected to present its interest rate derivatives on its unaudited Condensed Consolidated Balance Sheets on a gross basis as interest rate swap assets and interest rate swap liabilities. Detail on the fair value of the Company’s interest rate derivatives on a gross and net basis as of March 31, 2023 and December 31, 2022 is as follows: Fair Value of Derivative Instruments Interest rate swaps classified as: March 31, 2023 December 31, 2022 Gross derivative assets $ 7,383 $ 9,640 Gross derivative liabilities (1,731) — Net derivative assets (liabilities) $ 5,652 $ 9,640 The gross derivative assets are included in Other assets and the gross derivative liabilities are included in Accounts payable, accrued expenses and other liabilities on the Company’s unaudited Condensed Consolidated Balance Sheets. All of the Company’s outstanding interest rate swap agreements for the periods presented were designated as cash flow hedges of interest rate risk. The fair value of the Company’s interest rate derivatives is determined using market standard valuation techniques, including discounted cash flow analyses, on the expected cash flows of each derivative. These analyses reflect the contractual terms of the derivative, including the period to maturity, and use observable market-based inputs, including interest rate curves and implied volatilities. These inputs are classified as Level 2 of the fair value hierarchy. The effective portion of changes in the fair value of derivatives designated as cash flow hedges is recognized in other comprehensive income (loss) and is reclassified into earnings as interest expense in the period that the hedged forecasted transaction affects earnings. The effective portion of the Company’s interest rate swaps that was recognized on the Company’s unaudited Condensed Consolidated Statements of Comprehensive Income for the three months ended March 31, 2023 and 2022 is as follows: Derivatives in Cash Flow Hedging Relationships Three Months Ended March 31, 2023 2022 Change in unrealized gain (loss) on interest rate swaps $ (2,467) $ 9,434 Amortization (accretion) of interest rate swaps to interest expense (1,521) 1,847 Change in unrealized gain (loss) on interest rate swaps, net $ (3,988) $ 11,281 The Company estimates that $8.0 million will be reclassified from accumulated other comprehensive income (loss) as a decrease to interest expense over the next twelve months. No gain or loss was recognized related to hedge ineffectiveness or to amounts excluded from effectiveness testing on the Company’s cash flow hedges during the three months ended March 31, 2023 and 2022. Non-Designated (Mark-to-Market) Hedges of Interest Rate Risk The Company does not use derivatives for trading or speculative purposes. As of March 31, 2023 and December 31, 2022, the Company did not have any non-designated hedges. Credit-risk-related Contingent Features The Company has agreements with its derivative counterparties that contain provisions whereby if the Company defaults on certain of its indebtedness and the indebtedness has been accelerated by the lender, then the Company could also be declared in default on its derivative obligations. If the Company were to breach any of the contractual provisions of the derivative contracts, it would be required to settle its obligations under such agreements at their termination value, including accrued interest.

Debt Obligations

Debt Obligations	3 Months Ended
Debt Obligations	Mar. 31, 2023
Debt Disclosure [Abstract]
Debt Obligations	Debt Obligations As of March 31, 2023 and December 31, 2022, the Company had the following indebtedness outstanding: Carrying Value as of March 31, December 31, Stated Interest Rate (1) Scheduled Notes payable Unsecured notes (2) $ 4,618,453 $ 4,618,453 2.25% – 7.97% 2024 – 2031 Net unamortized premium 23,072 23,787 Net unamortized debt issuance costs (21,191) (22,325) Total notes payable, net $ 4,620,334 $ 4,619,915 Unsecured Credit Facility Revolving Facility $ 47,000 $ 125,000 6.01% 2026 Term Loan Facility (3) 300,000 300,000 5.96% 2027 Net unamortized debt issuance costs (8,854) (9,414) Total Unsecured Credit Facility and term loans $ 338,146 $ 415,586 Total debt obligations, net $ 4,958,480 $ 5,035,501 (1) Stated interest rates as of March 31, 2023 do not include the impact of the Company’s interest rate swap agreements (described below). (2) The weighted average stated interest rate on the Company’s unsecured notes was 3.69% as of March 31, 2023. (3) Effective June 1, 2022, the Company has in place four interest rate swap agreements that convert the variable interest rate on the $300.0 million outstanding under the Term Loan Facility (defined hereafter) to a fixed, combined interest rate of 2.59% (plus a spread of 119 basis points) through July 26, 2024. 2023 Debt Transactions The Operating Partnership has an unsecured credit facility as amended and restated April 28, 2022 (the "Unsecured Credit Facility"), which is comprised of a $1.25 billion revolving loan facility (the "Revolving Facility") and a $300.0 million term loan facility, in addition to a $200.0 million delayed draw term loan (together the "Term Loan Facility"). During the three months ended March 31, 2023, the Operating Partnership repaid $78.0 million, net of borrowings, under its Revolving Facility, with proceeds from dispositions. Pursuant to the terms of the Company’s unsecured debt agreements, the Company, among other things, is subject to the maintenance of various financial covenants. The Company was in compliance with these covenants as of March 31, 2023. Debt Maturities As of March 31, 2023 and December 31, 2022, the Company had accrued interest of $44.7 million and $47.3 million outstanding, respectively. As of March 31, 2023, scheduled maturities of the Company’s outstanding debt obligations were as follows: Year ending December 31, 2023 (remaining nine months) $ — 2024 500,000 2025 700,000 2026 654,542 2027 700,000 Thereafter 2,410,911 Total debt maturities 4,965,453 Net unamortized premium 23,072 Net unamortized debt issuance costs (30,045) Total debt obligations, net $ 4,958,480

Fair Value Disclosures

Fair Value Disclosures	3 Months Ended
Fair Value Disclosures	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value Disclosures	Fair Value Disclosures All financial instruments of the Company are reflected in the accompanying unaudited Condensed Consolidated Balance Sheets at amounts which, in management’s judgment, reasonably approximate their fair values, except those instruments listed below: March 31, 2023 December 31, 2022 Carrying Fair Carrying Fair Notes payable $ 4,620,334 $ 4,201,789 $ 4,619,915 $ 4,148,681 Unsecured Credit Facility 338,146 347,000 415,586 425,056 Total debt obligations, net $ 4,958,480 $ 4,548,789 $ 5,035,501 $ 4,573,737 As a basis for considering market participant assumptions in fair value measurements, a fair value hierarchy is included in GAAP that distinguishes between market participant assumptions based on market data obtained from sources independent of the reporting entity (observable inputs that are classified within Levels 1 and 2 of the hierarchy) and the reporting entity’s own assumptions about market participant assumptions (unobservable inputs that are classified within Level 3 of the hierarchy). In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability. Based on the above criteria, the Company has determined that the valuations of its debt obligations are classified within Level 3 of the fair value hierarchy. Such fair value estimates are not necessarily indicative of the amounts that would be realized upon disposition. Recurring Fair Value The Company’s marketable securities and interest rate derivatives are measured and recognized at fair value on a recurring basis. The valuations of the Company’s marketable securities are based primarily on publicly traded market values in active markets and are classified within Levels 1 and 2 of the fair value hierarchy. See Note 6 for fair value information regarding the Company’s interest rate derivatives. The following table presents the placement in the fair value hierarchy of assets and liabilities that are measured and recognized at fair value on a recurring basis: Fair Value Measurements as of March 31, 2023 Balance Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs Significant Unobservable Inputs Assets: Marketable securities (1) $ 20,642 $ 1,309 $ 19,333 $ — Interest rate derivatives $ 7,383 $ — $ 7,383 $ — Liabilities: Interest rate derivatives $ (1,731) $ — $ (1,731) $ — Fair Value Measurements as of December 31, 2022 Balance Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs Significant Unobservable Inputs Assets: Marketable securities (1) $ 21,669 $ 1,088 $ 20,581 $ — Interest rate derivatives $ 9,640 $ — $ 9,640 $ — (1) As of March 31, 2023 and December 31, 2022, marketable securities included $0.5 million and $0.8 million of net unrealized losses, respectively. As of March 31, 2023, the contractual maturities of the Company’s marketable securities are within the next five years. Non-Recurring Fair Value Management periodically assesses whether there are any indicators, including property operating performance, changes in anticipated hold period, and general market conditions, that the carrying value of the Company’s real estate assets (including any related intangible assets or liabilities) may be impaired. Fair value is determined by offers from third-party buyers, market comparable data, third party appraisals, or discounted cash flow analyses. The cash flows utilized in such analyses are comprised of unobservable inputs that include forecasted rental revenue and expenses based upon market conditions and future expectations. The capitalization rates and discount rates utilized in such analyses are based upon unobservable rates that the Company believes to be within a reasonable range of current market rates for the respective properties. Based on these inputs, the Company has determined that the valuations of these properties are classified within Level 3 of the fair value hierarchy. The following table presents the placement in the fair value hierarchy of assets and liabilities that are measured and recognized at fair value on a non-recurring basis. The table includes information related to properties that were remeasured to fair value as a result of impairment testing during the three months ended March 31, 2023, excluding the properties sold prior to March 31, 2023. During the year ended December 31, 2022, no properties were remeasured to fair value as a result of impairment testing that were not sold prior to December 31, 2022. Fair Value Measurements as of March 31, 2023 Balance Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Impairment of Real Estate Assets Assets: Properties (1)(2) $ 17,671 $ — $ — $ 17,671 $ 1,100 (1) There were no properties remeasured to fair value during the three months ended March 31, 2023 that were sold prior to March 31, 2023. (2) The carrying value of The Manchester Collection — Crossroads, which was remeasured to fair value based upon offers from third-party buyers during the three months ended March 31, 2023, is $17.7 million.

Revenue Recognition

Revenue Recognition	3 Months Ended
Revenue Recognition	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition The Company engages in the ownership, management, leasing, acquisition, disposition, and redevelopment of retail shopping centers. Revenue is primarily generated through lease agreements and classified as Rental income on the Company’s unaudited Condensed Consolidated Statements of Operations. These agreements include retail shopping center unit leases; ground leases; ancillary leases or agreements, such as agreements with tenants for cellular towers, ATMs, and short-term or seasonal retail (e.g. Halloween or Christmas-related retail); and reciprocal easement agreements. The agreements range in term from less than one year to 25 or more years, with certain agreements containing renewal options. These renewal options range from as little as one month to five or more years. The Company’s retail shopping center leases generally require tenants to pay a portion of property operating expenses such as common area expenses, utilities, insurance, and real estate taxes, and certain capital expenditures related to the maintenance of the Company’s properties. Additionally, certain leases may require variable lease payments associated with percentage rents, which are recognized upon the achievement of certain predetermined sales thresholds. The Company recognized $3.8 million and $3.4 million of income based on percentage rents for the three months ended March 31, 2023 and 2022, respectively. These amounts are included in Rental income on the Company’s unaudited Condensed Consolidated Statements of Operations.

Leases

Leases	3 Months Ended
Leases	Mar. 31, 2023
Leases [Abstract]
Leases	Leases The Company periodically enters into agreements in which it is the lessee, including ground leases for shopping centers that it operates and office leases for administrative space. The agreements range in term from less than one year to 50 or more years, with certain agreements containing renewal options for up to an additional 100 years. Upon lease execution, the Company recognizes an operating lease right-of-use (“ROU”) asset and an operating lease liability based on the present value of the minimum lease payments over the non-cancelable lease term. As of March 31, 2023, the Company is not including any prospective renewal or termination options in its ROU assets or lease liabilities, as the exercise of such options is not reasonably certain. Certain agreements require the Company to pay a portion of property operating expenses, such as common area expenses, utilities, insurance, and real estate taxes, and certain capital expenditures related to the maintenance of the properties. These payments are not included in the calculation of the ROU asset or lease liability and are presented as variable lease costs. The following tables present additional information pertaining to the Company’s operating leases: Three Months Ended March 31, Supplemental Statements of Operations Information 2023 2022 Operating lease costs $ 1,411 $ 1,438 Variable lease costs 139 80 Total lease costs $ 1,550 $ 1,518 Three Months Ended March 31, Supplemental Statements of Cash Flows Information 2023 2022 Operating cash outflows from operating leases $ 1,514 $ 1,538 ROU assets obtained in exchange for operating lease liabilities 23 112 Operating Lease Liabilities As of Future minimum operating lease payments: 2023 (remaining nine months) $ 4,542 2024 5,962 2025 5,661 2026 4,936 2027 2,720 2028 1,914 Thereafter 31,041 Total future minimum operating lease payments 56,776 Less: imputed interest (17,909) Operating lease liabilities $ 38,867 Supplemental Balance Sheets Information As of As of December 31, 2022 Operating lease liabilities (1)(2) $ 38,867 $ 39,923 ROU assets (1)(3) 34,801 35,754 (1) As of March 31, 2023 and December 31, 2022, the weighted average remaining lease term was 16.0 years and 16.0 years, respectively, and the weighted average discount rate was 4.43% and 4.43%, respectively. (2) These amounts are included in Accounts payable, accrued expenses and other liabilities on the Company’s unaudited Condensed Consolidated Balance Sheets. (3) These amounts are included in Other assets on the Company’s unaudited Condensed Consolidated Balance Sheets. As of March 31, 2023, there were no material leases that have been executed but not yet commenced.

Equity and Capital

Equity and Capital	3 Months Ended
Equity and Capital	Mar. 31, 2023
Equity [Abstract]
Equity and Capital	Equity and Capital ATM Program In November 2022, the Company renewed its at-the-market equity offering program (the “ATM Program”) through which the Company may sell, from time to time, up to an aggregate of $400.0 million of its common stock through sales agents. The ATM Program also provides that the Company may enter into forward contracts for shares of its common stock with forward sellers and forward purchasers. The ATM Program is scheduled to expire on November 1, 2025, unless earlier terminated or extended by the Company, sales agents, forward sellers, and forward purchasers. The ATM Program replaced the Company's prior at-the-market equity offering program (the "Prior ATM Program"), which was scheduled to expire on January 9, 2023. During the three months ended March 31, 2023, the Company did not issue any shares of common stock under the ATM Program. During the three months ended March 31, 2022, the Company issued 1.7 million shares of common stock under the Prior ATM Program at an average price per share of $25.49, for total gross proceeds of $44.4 million, excluding commissions. The Company incurred commissions of $0.6 million in conjunction with the Prior ATM Program for the three months ended March 31, 2022. As of March 31, 2023, $400.0 million of common stock remained available for issuance under the ATM Program. Share Repurchase Program In November 2022, the Company renewed its share repurchase program (the “Repurchase Program”) for up to $400.0 million of its common stock. The Repurchase Program is scheduled to expire on November 1, 2025, unless suspended or extended by the Company's board of directors. The Repurchase Program replaced the Company's prior share repurchase program (the "Prior Repurchase Program"), which was scheduled to expire on January 9, 2023. During the three months ended March 31, 2023 and 2022, the Company did not repurchase any shares of common stock. As of March 31, 2023, the Repurchase Program had $400.0 million of available repurchase capacity. Common Stock In connection with the vesting of restricted stock units (“RSUs”) under the Company’s equity-based compensation plan, the Company withholds shares to satisfy tax withholding obligations. During the three months ended March 31, 2023 and 2022, the Company withheld 0.5 million and 0.4 million shares of its common stock, respectively. Dividends and Distributions During the three months ended March 31, 2023 and 2022, the Company's board of directors declared common stock dividends and OP Unit distributions of $0.26 per share/unit and $0.24 per share/unit, respectively. As of March 31, 2023 and December 31, 2022, the Company had declared but unpaid common stock dividends and OP Unit distributions of $80.9 million and $81.6 million, respectively. These amounts are included in Accounts payable, accrued expenses and other liabilities on the Company’s unaudited Condensed Consolidated Balance Sheets.

Stock Based Compensation

Stock Based Compensation	3 Months Ended
Stock Based Compensation	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Stock Based Compensation	Stock Based Compensation In February 2022, the Company's board of directors approved the 2022 Omnibus Incentive Plan (the “Plan”) and in April 2022, the Company's stockholders approved the Plan. The Plan provides for a maximum of 10.0 million shares of the Company’s common stock to be issued for qualified and non-qualified options, stock appreciation rights, restricted stock, RSUs, OP Units, performance awards, and other stock-based awards. Prior to the approval of the Plan, awards were issued under the 2013 Omnibus Incentive Plan that the Company's board of directors approved in 2013. During the three months ended March 31, 2023 and the year ended December 31, 2022, the Company granted RSUs to certain employees. The RSUs are divided into multiple tranches, which are all subject to service-based vesting conditions. Certain tranches are also subject to performance-based or market-based criteria, which contain a threshold, target, above target, and maximum number of units that can be earned. The number of units actually earned for each tranche is determined based on performance during a specified performance period. Tranches that only have a service-based component can only earn a target number of units. The aggregate number of RSUs granted, assuming the achievement of target level performance, was 0.7 million and 0.7 million for the three months ended March 31, 2023 and the year ended December 31, 2022, respectively, with vesting periods ranging from one Assumption Three Months Ended March 31, 2023 Year Ended, Volatility 32.0% - 52.0% 27.0% - 51.0% Weighted average risk-free interest rate 3.79% - 5.18% 1.08% - 1.39% Weighted average common stock dividend yield 4.3% - 4.8% 3.8% - 4.6% During the three months ended March 31, 2023 and 2022, the Company recognized $4.5 million and $4.6 million of equity compensation expense, respectively, of which $0.3 million and $0.3 million was capitalized, respectively. These amounts are included in General and administrative expense on the Company’s unaudited Condensed Consolidated Statements of Operations. As of March 31, 2023, the Company had $33.7 million of total unrecognized compensation expense related to unvested stock compensation, which is expected to be recognized over a weighted average period of approximately 2.4 years.

Earnings Per Share

Earnings Per Share	3 Months Ended
Earnings Per Share	Mar. 31, 2023
Earnings Per Share [Abstract]
Earnings Per Share	Earnings per Share Basic earnings per share (“EPS”) is calculated by dividing net income attributable to the Company’s common stockholders, including any participating securities, by the weighted average number of shares outstanding for the period. Certain restricted shares issued pursuant to the Company’s share-based compensation program are considered participating securities, as such stockholders have rights to receive non-forfeitable dividends. Fully-diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into shares of common stock. Unvested RSUs are not allocated net losses and/or any excess of dividends declared over net income, as such amounts are allocated entirely to the Company’s common stock. The following table provides a reconciliation of the numerator and denominator of the EPS calculations for the three months ended March 31, 2023 and 2022 (dollars in thousands, except per share data): Three Months 2023 2022 Computation of Basic Earnings Per Share: Net income $ 112,246 $ 79,506 Non-forfeitable dividends on unvested restricted shares (295) (228) Net income attributable to the Company’s common stockholders for basic earnings per share $ 111,951 $ 79,278 Weighted average number shares outstanding – basic 300,821 298,528 Basic earnings per share attributable to the Company’s common stockholders: Net income per share $ 0.37 $ 0.27 Computation of Diluted Earnings Per Share: Net income attributable to the Company’s common stockholders for diluted earnings per share $ 111,951 $ 79,278 Weighted average shares outstanding – basic 300,821 298,528 Effect of dilutive securities: Equity awards 1,012 929 Weighted average shares outstanding – diluted 301,833 299,457 Diluted earnings per share attributable to the Company’s common stockholders: Net income per share $ 0.37 $ 0.26

Earnings per Unit

Earnings per Unit	3 Months Ended
Earnings per Unit	Mar. 31, 2023
Schedule of Earnings per Share [Line Items]
Earnings per Unit	Earnings per Share Basic earnings per share (“EPS”) is calculated by dividing net income attributable to the Company’s common stockholders, including any participating securities, by the weighted average number of shares outstanding for the period. Certain restricted shares issued pursuant to the Company’s share-based compensation program are considered participating securities, as such stockholders have rights to receive non-forfeitable dividends. Fully-diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into shares of common stock. Unvested RSUs are not allocated net losses and/or any excess of dividends declared over net income, as such amounts are allocated entirely to the Company’s common stock. The following table provides a reconciliation of the numerator and denominator of the EPS calculations for the three months ended March 31, 2023 and 2022 (dollars in thousands, except per share data): Three Months 2023 2022 Computation of Basic Earnings Per Share: Net income $ 112,246 $ 79,506 Non-forfeitable dividends on unvested restricted shares (295) (228) Net income attributable to the Company’s common stockholders for basic earnings per share $ 111,951 $ 79,278 Weighted average number shares outstanding – basic 300,821 298,528 Basic earnings per share attributable to the Company’s common stockholders: Net income per share $ 0.37 $ 0.27 Computation of Diluted Earnings Per Share: Net income attributable to the Company’s common stockholders for diluted earnings per share $ 111,951 $ 79,278 Weighted average shares outstanding – basic 300,821 298,528 Effect of dilutive securities: Equity awards 1,012 929 Weighted average shares outstanding – diluted 301,833 299,457 Diluted earnings per share attributable to the Company’s common stockholders: Net income per share $ 0.37 $ 0.26
Brixmor Operating Partnership LP
Schedule of Earnings per Share [Line Items]
Earnings per Unit	Earnings per Unit Basic earnings per unit is calculated by dividing net income attributable to the Operating Partnership’s common unitholders, including any participating securities, by the weighted average number of partnership common units outstanding for the period. Certain restricted units issued pursuant to the Company’s share-based compensation program are considered participating securities, as such unitholders have rights to receive non-forfeitable dividends. Fully-diluted earnings per unit reflects the potential dilution that could occur if securities or other contracts to issue common units were exercised or converted into common units. Unvested RSUs are not allocated net losses and/or any excess of dividends declared over net income, as such amounts are allocated entirely to the Operating Partnership’s common units. The following table provides a reconciliation of the numerator and denominator of the earnings per unit calculations for the three months ended March 31, 2023 and 2022 (dollars in thousands, except per unit data): Three Months Ended March 31, 2023 2022 Computation of Basic Earnings Per Unit: Net income $ 112,246 $ 79,506 Non-forfeitable dividends on unvested restricted units (295) (228) Net income attributable to the Operating Partnership’s common units for basic earnings per unit $ 111,951 $ 79,278 Weighted average number common units outstanding – basic 300,821 298,528 Basic earnings per unit attributable to the Operating Partnership’s common units: Net income per unit $ 0.37 $ 0.27 Computation of Diluted Earnings Per Unit: Net income attributable to the Operating Partnership’s common units for diluted earnings per unit $ 111,951 $ 79,278 Weighted average common units outstanding – basic 300,821 298,528 Effect of dilutive securities: Equity awards 1,012 929 Weighted average common units outstanding – diluted 301,833 299,457 Diluted earnings per unit attributable to the Operating Partnership’s common units: Net income per unit $ 0.37 $ 0.26

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal Matters The Company is not presently involved in any material litigation arising outside the ordinary course of business. However, the Company is involved in routine litigation arising in the ordinary course of business, none of which the Company believes, individually or in the aggregate, taking into account existing reserves, will have a material impact on the Company’s financial condition, operating results, or cash flows. Environmental Matters Under various federal, state, and local laws, ordinances, and regulations, the Company may be or become liable for the costs of removal or remediation of certain hazardous or toxic substances released on or in the Company’s properties or disposed of by the Company or its tenants, as well as certain other potential costs that could relate to hazardous or toxic substances (including governmental fines and injuries to persons and property). The Company maintains a reserve for currently known environmental matters and does not believe they will have a material impact on the Company’s financial condition, operating results, or cash flows. During the three months ended March 31, 2023 and 2022, the Company did not incur any material governmental fines resulting from environmental matters.

Related-Party Transactions

Related-Party Transactions	3 Months Ended
Related-Party Transactions	Mar. 31, 2023
Related Party Transactions [Abstract]
Related-Party Transactions	Related-Party Transactions As of March 31, 2023 and December 31, 2022, there were no material receivables from or payables to related parties. During the three months ended March 31, 2023 and 2022, the Company did not engage in any material related-party transactions.

Subsequent Events

Subsequent Events	3 Months Ended
Subsequent Events	Mar. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events In preparing the unaudited Condensed Consolidated Financial Statements, the Company has evaluated events and transactions occurring after March 31, 2023 for recognition and/or disclosure purposes. Based on this evaluation, there were no subsequent events from March 31, 2023 through the date the financial statements were issued other than the following: • On April 25, 2023, the Operating Partnership repurchased $199.6 million of its outstanding 3.65% Senior Notes due 2024 (the "2024 Notes") pursuant to a cash tender offer (the "Tender Offer"). In connection with the Tender Offer, the Company expects to recognize a gain on extinguishment of debt of approximately $4.3 million in the second quarter of 2023. • The Operating Partnership funded the Tender Offer with proceeds from its previously disclosed $200.0 million delayed draw term loan, which was drawn on April 24, 2023. Effective May 1, 2023, the $200.0 million delayed draw term loan has been swapped to a fixed, combined rate of 3.59% (plus a spread of 119 basis points and SOFR adjustment of 10 basis points) through the maturity of the term loan on July 26, 2027.

Nature of Business and Financ_2

Nature of Business and Financial Statement Presentation (Policies)	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with GAAP for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for the fair presentation of the unaudited Condensed Consolidated Financial Statements for the periods presented have been included. The operating results for the periods presented are not necessarily indicative of the results that may be expected for a full fiscal year. These financial statements should be read in conjunction with the financial statements for the year ended December 31, 2022 and accompanying notes included in the Company’s annual report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on February 13, 2023.
Principles of Consolidation	Principles of Consolidation The accompanying unaudited Condensed Consolidated Financial Statements include the accounts of the Parent Company, the Operating Partnership, each of their wholly owned subsidiaries, and all other entities in which they have a controlling financial interest. All intercompany transactions have been eliminated.
Income Taxes	Income Taxes The Parent Company has elected to qualify as a REIT in accordance with the Internal Revenue Code of 1986, as amended (the “Code”). To qualify as a REIT, the Parent Company must meet several organizational and operational requirements, including a requirement that it annually distribute to its stockholders at least 90% of its REIT taxable income, determined without regard to the deduction for dividends paid and excluding net capital gains. Management intends to continue to satisfy these requirements and maintain the Parent Company's REIT status. As a REIT, the Parent Company generally will not be subject to U.S. federal income tax, provided that distributions to its stockholders equal at least the amount of its REIT taxable income as defined under the Code. The Parent Company conducts substantially all of its operations through the Operating Partnership, which is organized as a limited partnership and treated as a pass-through entity for U.S. federal tax purposes. Therefore, U.S. federal income taxes do not materially impact the unaudited Condensed Consolidated Financial Statements of the Company. If the Parent Company fails to qualify as a REIT in any taxable year, it will be subject to U.S. federal taxes at regular corporate rates and may not be able to qualify as a REIT for the four subsequent taxable years. Even if the Parent Company qualifies for taxation as a REIT, the Parent Company is subject to certain state and local taxes on its income and property, and to U.S. federal income and excise taxes on its undistributed taxable income as well as other income items, as applicable. The Parent Company has elected to treat certain of its subsidiaries as taxable REIT subsidiaries (each a “TRS”), and the Parent Company may in the future elect to treat newly formed and/or other existing subsidiaries as TRSs. A TRS may participate in non-real estate related activities and/or perform non-customary services for tenants and is subject to certain limitations under the Code. A TRS is subject to U.S. federal, state, and local income taxes at regular corporate rates. Income taxes related to the Parent Company’s TRSs do not materially impact the unaudited Condensed Consolidated Financial Statements of the Company. The Company has considered the tax positions taken for the open tax years and has concluded that no provision for income taxes related to uncertain tax positions is required in the Company’s unaudited Condensed Consolidated Financial Statements as of March 31, 2023 and December 31, 2022. Open tax years generally range from 2019 through 2022 but may vary by jurisdiction and issue. The Company recognizes penalties and interest accrued related to unrecognized tax benefits as income tax expense, which is included in Other on the Company’s unaudited Condensed Consolidated Statements of Operations.
New Accounting Pronouncements	New Accounting Pronouncements Any recently issued accounting standards or pronouncements have been excluded as they either are not relevant to the Company, or they are not expected to have a material impact on the unaudited Condensed Consolidated Financial Statements of the Company.

Acquisition of Real Estate (Tab

Acquisition of Real Estate (Tables)	3 Months Ended
Acquisition of Real Estate (Tables)	Mar. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Schedule of Asset Acquisition	During the three months ended March 31, 2023, the Company did not acquire any assets. During the three months ended March 31, 2022, the Company acquired the following assets, in separate transactions: Description (1)(2) Location Month Acquired GLA Aggregate Purchase Price (3) Brea Gateway Brea, CA Jan-22 181,819 $ 83,991 Land at Cobblestone Village St. Augustine, FL Jan-22 N/A 1,661 Arboretum Village Dallas, TX Jan-22 95,354 46,330 Ravinia Plaza Orland Park, IL Feb-22 101,800 26,160 Adjustments related to previously acquired assets Various Various N/A 50 378,973 158,192 (1) No debt was assumed related to any of the listed acquisitions. (2) In addition, during the three months ended March 31, 2022, the Company funded $6.1 million of deposits on assets that were under contract to be acquired. (3) Aggregate purchase price includes $0.8 million of transaction costs, offset by $2.0 million of closing credits. The aggregate purchase price of the assets acquired during the three months ended March 31, 2022, has been allocated as follows: Three Months Ended March 31, Assets (1) 2022 Land $ 44,600 Buildings 100,883 Building and tenant improvements 14,917 Above-market leases (2) 543 In-place leases (3) 10,319 Total assets acquired $ 171,262 Liabilities Below-market leases (4) $ 11,244 Other liabilities 1,826 Total liabilities 13,070 Net assets acquired $ 158,192 (1) In addition, during the three months ended March 31, 2022, the Company funded $6.1 million of deposits on assets that were under contract to be acquired. (2) The weighted average amortization period at the time of acquisition for above-market leases related to assets acquired during the three months ended March 31, 2022 was 6.4 years. (3) The weighted average amortization period at the time of acquisition for in-place leases related to assets acquired during the three months ended March 31, 2022 was 12.2 years. (4) The weighted average amortization period at the time of acquisition for below-market leases related to assets acquired during the three months ended March 31, 2022 was 19.8 years.

Dispositions and Assets Held _2

Dispositions and Assets Held for Sale (Tables)	3 Months Ended
Dispositions and Assets Held for Sale (Tables)	Mar. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Reclassificationa of Disposal Groups, Including Discontinued Operations	The following table presents the assets associated with the properties classified as held for sale as of December 31, 2022: Assets December 31, 2022 Land $ 1,988 Buildings and improvements 13,864 Accumulated depreciation and amortization (5,625) Real estate, net 10,227 Other assets 212 Assets associated with real estate assets held for sale $ 10,439

Real Estate (Tables)

Real Estate (Tables)	3 Months Ended
Real Estate (Tables)	Mar. 31, 2023
Real Estate [Abstract]
Schedule of real estate properties	The Company’s components of Real estate, net consisted of the following: March 31, 2023 December 31, 2022 Land $ 1,806,186 $ 1,820,358 Buildings and improvements: Buildings and tenant improvements 8,526,051 8,535,279 Lease intangibles (1) 525,888 542,714 10,858,125 10,898,351 Accumulated depreciation and amortization (2) (3,022,868) (2,996,759) Total $ 7,835,257 $ 7,901,592 (1) As of March 31, 2023 and December 31, 2022, Lease intangibles consisted of $475.8 million and $492.0 million, respectively, of in-place leases and $50.1 million and $50.7 million, respectively, of above-market leases. These intangible assets are amortized over the term of each related lease. (2) As of March 31, 2023 and December 31, 2022, Accumulated depreciation and amortization included $453.4 million and $465.2 million, respectively, of accumulated amortization related to Lease intangibles.
Schedule of expected net amortization expense associated with intangible assets and liabilities	The Company’s estimated below-market lease accretion income, net of above-market lease amortization expense, and in-place lease amortization expense for the next five years are as follows: Year ending December 31, Below-market lease accretion (income), net of above-market lease amortization expense In-place lease amortization expense 2023 (remaining nine months) $ (7,627) $ 11,095 2024 (9,565) 11,908 2025 (8,302) 8,762 2026 (7,267) 6,303 2027 (6,173) 4,805

Impairments (Tables)

Impairments (Tables)	3 Months Ended
Impairments (Tables)	Mar. 31, 2023
Impairment of Real Estate [Abstract]
Schedule of Impairments	The Company recognized the following impairments during the three months ended March 31, 2023: Three Months Ended March 31, 2023 Property Name (1) Location GLA Impairment Charge The Manchester Collection - Crossroads Manchester, CT 172,474 $ 1,100 172,474 $ 1,100 (1) The Company recognized an impairment charge based upon offers from third-party buyers in connection with the Company’s capital recycling program. The Company recognized the following impairments during the three months ended March 31, 2022: Three Months Ended March 31, 2022 Property Name (1) Location GLA Impairment Charge Torrington Plaza (2) Torrington, CT 125,496 $ 3,502 New Garden Center (2) Kennett Square, PA 147,370 1,088 272,866 $ 4,590 (1) The Company recognized impairment charges based upon changes in the anticipated hold periods of these properties and/or offers from third-party buyers in connection with the Company’s capital recycling program. (2) The Company disposed of this property during the year ended December 31, 2022.

Financial Instruments - Deriv_2

Financial Instruments - Derivatives and Hedging (Tables)	3 Months Ended
Financial Instruments - Derivatives and Hedging (Tables)	Mar. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of interest rate derivatives	Detail on the Company’s interest rate derivatives designated as cash flow hedges outstanding as of March 31, 2023 and December 31, 2022 is as follows: Number of Instruments Notional Amount March 31, 2023 December 31, 2022 March 31, 2023 December 31, 2022 Interest Rate Swaps (1) 7 4 $ 500,000 $ 300,000 (1) Interest Rate Swaps outstanding as of March 31, 2023 include three forward interest rate swap agreements with an effective date of May 1, 2023 and aggregate notional amount of $200.0 million.
Schedule of derivative instruments in Statement of Financial Position, fair value	Detail on the fair value of the Company’s interest rate derivatives on a gross and net basis as of March 31, 2023 and December 31, 2022 is as follows: Fair Value of Derivative Instruments Interest rate swaps classified as: March 31, 2023 December 31, 2022 Gross derivative assets $ 7,383 $ 9,640 Gross derivative liabilities (1,731) — Net derivative assets (liabilities) $ 5,652 $ 9,640
Schedule of Derivatives in Cash Flow Hedging Relationships	The effective portion of the Company’s interest rate swaps that was recognized on the Company’s unaudited Condensed Consolidated Statements of Comprehensive Income for the three months ended March 31, 2023 and 2022 is as follows: Derivatives in Cash Flow Hedging Relationships Three Months Ended March 31, 2023 2022 Change in unrealized gain (loss) on interest rate swaps $ (2,467) $ 9,434 Amortization (accretion) of interest rate swaps to interest expense (1,521) 1,847 Change in unrealized gain (loss) on interest rate swaps, net $ (3,988) $ 11,281

Debt Obligations (Tables)

Debt Obligations (Tables)	3 Months Ended
Debt Obligations (Tables)	Mar. 31, 2023
Debt Disclosure [Abstract]
Debt obligations under various arrangements with financial institutions	As of March 31, 2023 and December 31, 2022, the Company had the following indebtedness outstanding: Carrying Value as of March 31, December 31, Stated Interest Rate (1) Scheduled Notes payable Unsecured notes (2) $ 4,618,453 $ 4,618,453 2.25% – 7.97% 2024 – 2031 Net unamortized premium 23,072 23,787 Net unamortized debt issuance costs (21,191) (22,325) Total notes payable, net $ 4,620,334 $ 4,619,915 Unsecured Credit Facility Revolving Facility $ 47,000 $ 125,000 6.01% 2026 Term Loan Facility (3) 300,000 300,000 5.96% 2027 Net unamortized debt issuance costs (8,854) (9,414) Total Unsecured Credit Facility and term loans $ 338,146 $ 415,586 Total debt obligations, net $ 4,958,480 $ 5,035,501 (1) Stated interest rates as of March 31, 2023 do not include the impact of the Company’s interest rate swap agreements (described below). (2) The weighted average stated interest rate on the Company’s unsecured notes was 3.69% as of March 31, 2023. (3) Effective June 1, 2022, the Company has in place four interest rate swap agreements that convert the variable interest rate on the $300.0 million outstanding under the Term Loan Facility (defined hereafter) to a fixed, combined interest rate of 2.59% (plus a spread of 119 basis points) through July 26, 2024.
Future expected/scheduled maturities of outstanding debt and capital lease obligations	As of March 31, 2023 and December 31, 2022, the Company had accrued interest of $44.7 million and $47.3 million outstanding, respectively. As of March 31, 2023, scheduled maturities of the Company’s outstanding debt obligations were as follows: Year ending December 31, 2023 (remaining nine months) $ — 2024 500,000 2025 700,000 2026 654,542 2027 700,000 Thereafter 2,410,911 Total debt maturities 4,965,453 Net unamortized premium 23,072 Net unamortized debt issuance costs (30,045) Total debt obligations, net $ 4,958,480

Fair Value Disclosures (Tables)

Fair Value Disclosures (Tables)	3 Months Ended
Fair Value Disclosures (Tables)	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Schedule Of Fair Value Debt Obligation	All financial instruments of the Company are reflected in the accompanying unaudited Condensed Consolidated Balance Sheets at amounts which, in management’s judgment, reasonably approximate their fair values, except those instruments listed below: March 31, 2023 December 31, 2022 Carrying Fair Carrying Fair Notes payable $ 4,620,334 $ 4,201,789 $ 4,619,915 $ 4,148,681 Unsecured Credit Facility 338,146 347,000 415,586 425,056 Total debt obligations, net $ 4,958,480 $ 4,548,789 $ 5,035,501 $ 4,573,737
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following table presents the placement in the fair value hierarchy of assets and liabilities that are measured and recognized at fair value on a recurring basis: Fair Value Measurements as of March 31, 2023 Balance Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs Significant Unobservable Inputs Assets: Marketable securities (1) $ 20,642 $ 1,309 $ 19,333 $ — Interest rate derivatives $ 7,383 $ — $ 7,383 $ — Liabilities: Interest rate derivatives $ (1,731) $ — $ (1,731) $ — Fair Value Measurements as of December 31, 2022 Balance Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs Significant Unobservable Inputs Assets: Marketable securities (1) $ 21,669 $ 1,088 $ 20,581 $ — Interest rate derivatives $ 9,640 $ — $ 9,640 $ — (1) As of March 31, 2023 and December 31, 2022, marketable securities included $0.5 million and $0.8 million of net unrealized losses, respectively. As of March 31, 2023, the contractual maturities of the Company’s marketable securities are within the next five years. The following table presents the placement in the fair value hierarchy of assets and liabilities that are measured and recognized at fair value on a non-recurring basis. The table includes information related to properties that were remeasured to fair value as a result of impairment testing during the three months ended March 31, 2023, excluding the properties sold prior to March 31, 2023. During the year ended December 31, 2022, no properties were remeasured to fair value as a result of impairment testing that were not sold prior to December 31, 2022. Fair Value Measurements as of March 31, 2023 Balance Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Impairment of Real Estate Assets Assets: Properties (1)(2) $ 17,671 $ — $ — $ 17,671 $ 1,100 (1) There were no properties remeasured to fair value during the three months ended March 31, 2023 that were sold prior to March 31, 2023. (2) The carrying value of The Manchester Collection — Crossroads, which was remeasured to fair value based upon offers from third-party buyers during the three months ended March 31, 2023, is $17.7 million.

Leases (Tables)

Leases (Tables)	3 Months Ended
Leases (Tables)	Mar. 31, 2023
Leases [Abstract]
Schedule of Operating Leases	The following tables present additional information pertaining to the Company’s operating leases: Three Months Ended March 31, Supplemental Statements of Operations Information 2023 2022 Operating lease costs $ 1,411 $ 1,438 Variable lease costs 139 80 Total lease costs $ 1,550 $ 1,518 Three Months Ended March 31, Supplemental Statements of Cash Flows Information 2023 2022 Operating cash outflows from operating leases $ 1,514 $ 1,538 ROU assets obtained in exchange for operating lease liabilities 23 112 Operating Lease Liabilities As of Future minimum operating lease payments: 2023 (remaining nine months) $ 4,542 2024 5,962 2025 5,661 2026 4,936 2027 2,720 2028 1,914 Thereafter 31,041 Total future minimum operating lease payments 56,776 Less: imputed interest (17,909) Operating lease liabilities $ 38,867 Supplemental Balance Sheets Information As of As of December 31, 2022 Operating lease liabilities (1)(2) $ 38,867 $ 39,923 ROU assets (1)(3) 34,801 35,754 (1) As of March 31, 2023 and December 31, 2022, the weighted average remaining lease term was 16.0 years and 16.0 years, respectively, and the weighted average discount rate was 4.43% and 4.43%, respectively. (2) These amounts are included in Accounts payable, accrued expenses and other liabilities on the Company’s unaudited Condensed Consolidated Balance Sheets. (3) These amounts are included in Other assets on the Company’s unaudited Condensed Consolidated Balance Sheets.

Stock Based Compensation (Table

Stock Based Compensation (Tables)	3 Months Ended
Stock Based Compensation (Tables)	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Schedule Of Fair Value Assumptions	For the market-based RSUs granted, fair value is based on a Monte Carlo simulation model that assesses the probability of satisfying the market performance hurdles over the remainder of the performance period based on the Company’s historical common stock performance relative to the other companies within the FTSE Nareit Equity Shopping Centers Index as well as the following significant assumptions: Assumption Three Months Ended March 31, 2023 Year Ended, Volatility 32.0% - 52.0% 27.0% - 51.0% Weighted average risk-free interest rate 3.79% - 5.18% 1.08% - 1.39% Weighted average common stock dividend yield 4.3% - 4.8% 3.8% - 4.6%

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
Earnings Per Share (Tables)	Mar. 31, 2023
Earnings Per Share [Abstract]
Schedule of earnings per share, basic and diluted	The following table provides a reconciliation of the numerator and denominator of the EPS calculations for the three months ended March 31, 2023 and 2022 (dollars in thousands, except per share data): Three Months 2023 2022 Computation of Basic Earnings Per Share: Net income $ 112,246 $ 79,506 Non-forfeitable dividends on unvested restricted shares (295) (228) Net income attributable to the Company’s common stockholders for basic earnings per share $ 111,951 $ 79,278 Weighted average number shares outstanding – basic 300,821 298,528 Basic earnings per share attributable to the Company’s common stockholders: Net income per share $ 0.37 $ 0.27 Computation of Diluted Earnings Per Share: Net income attributable to the Company’s common stockholders for diluted earnings per share $ 111,951 $ 79,278 Weighted average shares outstanding – basic 300,821 298,528 Effect of dilutive securities: Equity awards 1,012 929 Weighted average shares outstanding – diluted 301,833 299,457 Diluted earnings per share attributable to the Company’s common stockholders: Net income per share $ 0.37 $ 0.26

Earnings per Unit (Tables)

Earnings per Unit (Tables)	3 Months Ended
Earnings per Unit (Tables)	Mar. 31, 2023
Schedule of Earnings per Share [Line Items]
Schedule of earnings per unit, basic and diluted	The following table provides a reconciliation of the numerator and denominator of the EPS calculations for the three months ended March 31, 2023 and 2022 (dollars in thousands, except per share data): Three Months 2023 2022 Computation of Basic Earnings Per Share: Net income $ 112,246 $ 79,506 Non-forfeitable dividends on unvested restricted shares (295) (228) Net income attributable to the Company’s common stockholders for basic earnings per share $ 111,951 $ 79,278 Weighted average number shares outstanding – basic 300,821 298,528 Basic earnings per share attributable to the Company’s common stockholders: Net income per share $ 0.37 $ 0.27 Computation of Diluted Earnings Per Share: Net income attributable to the Company’s common stockholders for diluted earnings per share $ 111,951 $ 79,278 Weighted average shares outstanding – basic 300,821 298,528 Effect of dilutive securities: Equity awards 1,012 929 Weighted average shares outstanding – diluted 301,833 299,457 Diluted earnings per share attributable to the Company’s common stockholders: Net income per share $ 0.37 $ 0.26
Brixmor Operating Partnership LP
Schedule of Earnings per Share [Line Items]
Schedule of earnings per unit, basic and diluted	The following table provides a reconciliation of the numerator and denominator of the earnings per unit calculations for the three months ended March 31, 2023 and 2022 (dollars in thousands, except per unit data): Three Months Ended March 31, 2023 2022 Computation of Basic Earnings Per Unit: Net income $ 112,246 $ 79,506 Non-forfeitable dividends on unvested restricted units (295) (228) Net income attributable to the Operating Partnership’s common units for basic earnings per unit $ 111,951 $ 79,278 Weighted average number common units outstanding – basic 300,821 298,528 Basic earnings per unit attributable to the Operating Partnership’s common units: Net income per unit $ 0.37 $ 0.27 Computation of Diluted Earnings Per Unit: Net income attributable to the Operating Partnership’s common units for diluted earnings per unit $ 111,951 $ 79,278 Weighted average common units outstanding – basic 300,821 298,528 Effect of dilutive securities: Equity awards 1,012 929 Weighted average common units outstanding – diluted 301,833 299,457 Diluted earnings per unit attributable to the Operating Partnership’s common units: Net income per unit $ 0.37 $ 0.26

Nature of Business and Financ_3

Nature of Business and Financial Statement Presentation (Details)	Mar. 31, 2023 ft² Property
Nture of Oerations and Financial Statements Presentation [Line Items]
GLA	378,973
Shopping Center
Nture of Oerations and Financial Statements Presentation [Line Items]
Number of real estate properties \| Property	367
GLA	65,000,000
Parent Company \| BPG Sub \| Brixmor OP GP LLC
Nture of Oerations and Financial Statements Presentation [Line Items]
Ownership percentage	100%

Acquisition of Real Estate - Pr

Acquisition of Real Estate - Properties Acquired (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($) ft²	Mar. 31, 2022 USD ($)
Asset Acquisition [Line Items]
GLA \| ft²	378,973
Aggregate Purchase Price	$ 158,192
Deposits On Assets Under Contract To Be Acquired		$ 6,100
Transaction costs	800
Closing credits	$ 2,000
Brea Gateway
Asset Acquisition [Line Items]
GLA \| ft²	181,819
Aggregate Purchase Price	$ 83,991
Land at Cobblestone Village
Asset Acquisition [Line Items]
Aggregate Purchase Price	$ 1,661
Arboretum Village
Asset Acquisition [Line Items]
GLA \| ft²	95,354
Aggregate Purchase Price	$ 46,330
Ravinia Plaza
Asset Acquisition [Line Items]
GLA \| ft²	101,800
Aggregate Purchase Price	$ 26,160
Adjustments related to previously acquired assets
Asset Acquisition [Line Items]
Aggregate Purchase Price	$ 50

Acquisition of Real Estate (Pur

Acquisition of Real Estate (Purchase Price) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Asset Acquisition [Line Items]
Total assets acquired	$ 158,192
Above market leases
Asset Acquisition [Line Items]
Useful life (in years)		6 years 4 months 24 days
Leases, acquired-in-place
Asset Acquisition [Line Items]
Useful life (in years)		12 years 2 months 12 days
Below market leases
Asset Acquisition [Line Items]
Useful life (in years)		19 years 9 months 18 days
Acquired Properties
Asset Acquisition [Line Items]
Land		$ 44,600
Buildings		100,883
Building and tenant improvements		14,917
Above-market leases		543
In-place Leases		10,319
Total assets acquired		171,262
Below-market lease		11,244
Other liabilities		1,826
Total liabilities		13,070
Net assets acquired		$ 158,192

Dispositions and Assets Held _3

Dispositions and Assets Held for Sale (Narrative) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($) shopping_center property	Mar. 31, 2022 USD ($) shopping_center	Dec. 31, 2022 property
Schedule of Acquisitions and Dispositions [Line Items]
Gain on sale of real estate assets	$ 48,468	$ 21,911
Disposed of by Sale
Schedule of Acquisitions and Dispositions [Line Items]
Number of shopping centers sold \| shopping_center	6	5
Number of partial shopping centers sold \| shopping_center	2	1
Proceeds from sale of property		$ 58,900
Gain on sale of real estate assets		21,800
Provisions of impairment		1,100
Disposed of by Sale \| Partial Properties
Schedule of Acquisitions and Dispositions [Line Items]
Proceeds from sale of property	$ 119,700
Gain on sale of real estate assets	$ 48,500
Disposed of by Sale \| Previously Disposed Assets
Schedule of Acquisitions and Dispositions [Line Items]
Gain on sale of real estate assets		$ 100
Held-for-sale
Schedule of Acquisitions and Dispositions [Line Items]
Number of real estate properties \| property	0		1
Held-for-sale \| Partial Properties
Schedule of Acquisitions and Dispositions [Line Items]
Number of real estate properties \| property			2

Dispositions and Assets Held _4

Dispositions and Assets Held for Sale (Held for Sale) (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets associated with real estate assets held for sale	$ 0	$ 10,439
Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Land		1,988
Buildings and improvements		13,864
Accumulated depreciation and amortization		(5,625)
Real estate, net		10,227
Other assets		212
Assets associated with real estate assets held for sale		$ 10,439

Real Estate (Details)

Real Estate (Details) - USD ($) $ in Thousands	3 Months Ended
Real Estate (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Real Estate Owned, Disclosure of Detailed Components [Abstract]
Land	$ 1,806,186		$ 1,820,358
Building and tenant improvements	8,526,051		8,535,279
Lease intangibles	525,888		542,714
Real estate, gross	10,858,125		10,898,351
Accumulated depreciation and amortization	(3,022,868)		(2,996,759)
Total	7,835,257		7,901,592
Accumulated amortization	453,400		465,200
Intangible liabilities relating to below-market leases	339,900		349,700
Accumulated amortization on below-market leases	247,000		252,900
Below-market lease intangible amortization	3,400	$ 3,000
Amortization of intangible assets	4,500	$ 4,100
Below-market lease accretion (income), net of above-market lease amortization expense
2023 (remaining nine months)	(7,627)
2024	(9,565)
2025	(8,302)
2026	(7,267)
2027	(6,173)
In-place lease amortization expense
2023 (remaining nine months)	11,095
2024	11,908
2025	8,762
2026	6,303
2027	4,805
Leases, acquired-in-place
Real Estate Owned, Disclosure of Detailed Components [Abstract]
In-place lease value	475,800		492,000
Above market leases
Real Estate Owned, Disclosure of Detailed Components [Abstract]
Above market leases	$ 50,100		$ 50,700

Impairments (Details)

Impairments (Details) $ in Thousands	3 Months Ended
Impairments (Details) $ in Thousands	Mar. 31, 2023 USD ($) ft²	Mar. 31, 2022 USD ($) ft²
Real Estate Properties [Line Items]
GLA \| ft²	172,474	272,866
Impairment of Real Estate \| $	$ 1,100	$ 4,590
The Manchester Collection
Real Estate Properties [Line Items]
GLA \| ft²	172,474
Impairment of Real Estate \| $	$ 1,100
Torrington Plaza
Real Estate Properties [Line Items]
GLA \| ft²		125,496
Impairment of Real Estate \| $		$ 3,502
New Garden Center
Real Estate Properties [Line Items]
GLA \| ft²		147,370
Impairment of Real Estate \| $		$ 1,088

Financial Instruments - Deriv_3

Financial Instruments - Derivatives and Hedging (Narrative) (Details)	3 Months Ended		12 Months Ended
	Mar. 31, 2023 USD ($) agreement	Mar. 31, 2022 USD ($)	Dec. 31, 2022 USD ($) derivative_instrument	May 01, 2023 USD ($)
Debt Instrument [Line Items]
Forward starting interest rate swap agreements \| agreement	3
Maximum
Debt Instrument [Line Items]
Amount expected to be reclassified from accumulated other comprehensive income (loss) in the next twelve months	$ 8,000,000
Interest Rate Swap \| Designated as Hedging Instrument
Debt Instrument [Line Items]
Notional amount	$ 500,000,000		$ 300,000,000	$ 200,000,000
Forward interest rate	3.59%
Number of instruments entered \| derivative_instrument			0
Gain (loss) on derivative	$ 0	$ 0

Financial Instruments - Deriv_4

Financial Instruments - Derivatives and Hedging (Notional Amount) (Details) - Interest Rate Swap - Designated as Hedging Instrument $ in Thousands	May 01, 2023 USD ($)	Mar. 31, 2023 USD ($) derivative_instrument	Dec. 31, 2022 USD ($) derivative_instrument
Derivative [Line Items]
Number of Instruments \| derivative_instrument		7	4
Notional amount \| $	$ 200,000	$ 500,000	$ 300,000

Financial Instruments - Deriv_5

Financial Instruments - Derivatives and Hedging (Fair Value) (Details) - Interest Rate Swap - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Derivatives, Fair Value [Line Items]
Gross derivative assets	$ 7,383	$ 9,640
Gross derivative liabilities	(1,731)	0
Net derivative assets (liabilities)	$ 5,652	$ 9,640

Financial Instruments - Deriv_6

Financial Instruments - Derivatives and Hedging (Cash Flow Hedging Relationship) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Change in unrealized gain (loss) on interest rate swaps	$ (2,467)	$ 9,434
Amortization (accretion) of interest rate swaps to interest expense	(1,521)	1,847
Change in unrealized gain (loss) on interest rate swaps, net	$ (3,988)	$ 11,281

Debt Obligations (Shedule of De

Debt Obligations (Shedule of Debt) (Details)	Jun. 01, 2022 USD ($) derivative_instrument	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Debt obligations under various arrangements with financial institutions
Long-term debt		$ 4,965,453,000
Net unamortized debt issuance costs		(30,045,000)
Total debt obligations		4,958,480,000	$ 5,035,501,000
Unsecured Debt
Debt obligations under various arrangements with financial institutions
Long-term debt		4,618,453,000	4,618,453,000
Net unamortized premium		23,072,000	23,787,000
Net unamortized debt issuance costs		(21,191,000)	(22,325,000)
Long-term debt		$ 4,620,334,000	4,619,915,000
Weighted average fixed interest rate		3.69%
Unsecured Debt \| Minimum
Debt obligations under various arrangements with financial institutions
Stated percentage		2.25%
Unsecured Debt \| Maximum
Debt obligations under various arrangements with financial institutions
Stated percentage		7.97%
Unsecured Debt \| Unsecured Credit Facility
Debt obligations under various arrangements with financial institutions
Long-term debt		$ 47,000,000	125,000,000
Stated percentage		6.01%
Unsecured Debt \| Unsecured Credit Facility \| Brixmor Operating Partnership LP
Debt obligations under various arrangements with financial institutions
Term loan face amount		$ 1,250,000,000
Unsecured Debt \| Term Loan \| Unsecured $300 Million Term Loan
Debt obligations under various arrangements with financial institutions
Long-term debt		$ 300,000,000	300,000,000
Stated percentage		5.96%
Term loan face amount	$ 300,000,000
Effective percentage	2.59%
Unsecured Debt \| Term Loan \| Unsecured $300 Million Term Loan \| Through July 26, 2024
Debt obligations under various arrangements with financial institutions
Stated spread rate	1.19%
Unsecured Debt \| Term Loan \| Unsecured $300 Million Term Loan \| Interest Rate Swap
Debt obligations under various arrangements with financial institutions
Number of Instruments \| derivative_instrument	4
Unsecured Debt \| Unsecured Credit Facility and Term Loan
Debt obligations under various arrangements with financial institutions
Net unamortized debt issuance costs		$ (8,854,000)	(9,414,000)
Long-term debt		$ 338,146,000	$ 415,586,000

Debt Obligations (Narrative) (D

Debt Obligations (Narrative) (Details) - Unsecured Debt - USD ($) $ in Millions	Mar. 31, 2023	Jun. 01, 2022
Unsecured Credit Facility \| Brixmor Operating Partnership LP
Debt Instrument [Line Items]
Amount borrowed	$ 78
Term loan face amount	$ 1,250
Term Loan \| Term Loan Facility
Debt Instrument [Line Items]
Term loan face amount		$ 200

Debt Obligations (Maturities) (

Debt Obligations (Maturities) (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Debt Disclosure [Abstract]
Interest payable	$ 44,700	$ 47,300
Future expected/scheduled maturities of outstanding debt and capital lease
2023 (remaining nine months)	0
2024	500,000
2025	700,000
2026	654,542
2027	700,000
Thereafter	2,410,911
Total debt maturities	4,965,453
Net unamortized premium	23,072
Net unamortized debt issuance costs	(30,045)
Total debt obligations, net	$ 4,958,480	$ 5,035,501

Fair Value Disclosures (Debt Ob

Fair Value Disclosures (Debt Obligations) (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Estimated fair value of the Company's debt obligations compared to their carrying amounts
Total debt obligations, net	$ 4,958,480	$ 5,035,501
Carrying Amount
Estimated fair value of the Company's debt obligations compared to their carrying amounts
Notes payable	4,620,334	4,619,915
Unsecured credit facility and term loan	338,146	415,586
Total debt obligations, net	4,958,480	5,035,501
Fair Value
Estimated fair value of the Company's debt obligations compared to their carrying amounts
Notes payable	4,201,789	4,148,681
Unsecured credit facility and term loan	347,000	425,056
Total debt obligations	$ 4,548,789	$ 4,573,737

Fair Value Disclosures (Measure

Fair Value Disclosures (Measurements) (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of real estate assets	$ 1,100	$ 4,590
Marketable securities, unrealized gain	(500)		$ 800
The Manchester Collection
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate investment, fair value	17,700
Fair Value, Measurements, Recurring \| Marketable Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	20,642		21,669
Fair Value, Measurements, Recurring \| Interest rate derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	7,383		9,640
Derivative liability	(1,731)
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Marketable Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	1,309		1,088
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Interest rate derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0		0
Derivative liability	0
Fair Value, Measurements, Recurring \| Significant Other Observable Inputs (Level 2) \| Marketable Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	19,333		20,581
Fair Value, Measurements, Recurring \| Significant Other Observable Inputs (Level 2) \| Interest rate derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	7,383		9,640
Derivative liability	1,731
Fair Value, Measurements, Recurring \| Significant Unobservable Inputs (Level 3) \| Marketable Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0		0
Fair Value, Measurements, Recurring \| Significant Unobservable Inputs (Level 3) \| Interest rate derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0		$ 0
Derivative liability	0
Fair Value, Measurements, Nonrecurring \| Properties
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	17,671
Impairment of real estate assets		$ 1,100
Fair Value, Measurements, Nonrecurring \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Properties
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0
Fair Value, Measurements, Nonrecurring \| Significant Other Observable Inputs (Level 2) \| Properties
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0
Fair Value, Measurements, Nonrecurring \| Significant Unobservable Inputs (Level 3) \| Properties
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	$ 17,671

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Millions	3 Months Ended
Revenue Recognition (Details) - USD ($) $ in Millions	Mar. 31, 2023	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Performance obligation, description of timing	The agreements range in term from less than one year to 25 or more years, with certain agreements containing renewal options. These renewal options range from as little as one month to five or more years.
Rental income based on percentage rents	$ 3.8	$ 3.4

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	3 Months Ended
Leases (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Lessee, Lease, Description [Line Items]
Additional term of contract	100 years
Supplemental Statements of Operations Information
Operating lease costs	$ 1,411	$ 1,438
Variable lease costs	139	80
Total lease costs	1,550	1,518
Operating cash outflows from operating leases	1,514	1,538
ROU assets obtained in exchange for operating lease liabilities	23	$ 112
Operating Lease Liabilities
2023 (remaining nine months)	4,542
2024	5,962
2025	5,661
2026	4,936
2027	2,720
2028	1,914
Thereafter	31,041
Total future minimum operating lease payments	56,776
Less: imputed interest	(17,909)
Operating lease liabilities	38,867		$ 39,923
ROU asset	$ 34,801		$ 35,754
Weighted average remaining lease term	16 years		16 years
Weighted average discount rate	4.43%		4.43%
Minimum
Lessee, Lease, Description [Line Items]
Term of contract	1 year
Maximum
Lessee, Lease, Description [Line Items]
Term of contract	50 years

Equity and Capital (Details)

Equity and Capital (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Jan. 31, 2020
Schedule of Shareholders' Equity [Line Items]
At-the-market equity offering program, stock available for future issuance	$ 400
Available repurchase amount	$ 400
Dividends, per common share (in dollars per share)	$ 0.260	$ 0.240
Accounts Payable and Accrued Liabilities
Schedule of Shareholders' Equity [Line Items]
Dividends payable	$ 80.9		$ 81.6
Common Stock
Schedule of Shareholders' Equity [Line Items]
At-the-market equity offering program				$ 400
At-the-market equity offering program, shares issued (in shares)	1,700,000
At-the-market equity offering program, shares issued (in dollars per share)	$ 25.49
At-the-market equity offering program, shares issued	$ 44.4
Incurred commissions	$ 0.6
Common Stock \| RSUs
Schedule of Shareholders' Equity [Line Items]
Stock repurchased during period (in shares)	500,000	400,000
Common Stock \| Maximum
Schedule of Shareholders' Equity [Line Items]
Share repurchase program, authorized amount				$ 400

Stock Based Compensation (Narra

Stock Based Compensation (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Sep. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized	10,000,000
Grants in period	700,000	700,000
Equity based compensation, net	$ 4.5	$ 4.6
Amount capitalized	(0.3)	$ (0.3)
Compensation cost not yet recognized	$ 33.7
Weighted average remaining contractual term	2 years 4 months 24 days
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service period	1 year
Expected volatility rate	32%		27%
Risk free interest rate	3.79%		1.08%
Expected dividend rate	4.30%		3.80%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service period	5 years
Expected volatility rate	52%		51%
Risk free interest rate	5.18%		1.39%
Expected dividend rate	4.80%		4.60%

Stock Based Compensation (Assum

Stock Based Compensation (Assumptions) (Details)	3 Months Ended	9 Months Ended
Stock Based Compensation (Assumptions) (Details)	Mar. 31, 2023	Sep. 30, 2022
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility rate	32%	27%
Risk free interest rate	3.79%	1.08%
Expected dividend rate	4.30%	3.80%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility rate	52%	51%
Risk free interest rate	5.18%	1.39%
Expected dividend rate	4.80%	4.60%

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Earnings Per Share, Basic [Abstract]
Net income	$ 112,246	$ 79,506
Non-forfeitable dividends on unvested restricted shares	(295)	(228)
Net income attributable to the Company’s common stockholders for basic earnings per share	$ 111,951	$ 79,278
Weighted average number shares outstanding – basic	300,821	298,528
Net income per share (usd per share)	$ 0.37	$ 0.27
Computation of Diluted Earnings Per Share:
Net income attributable to the Company’s common stockholders for diluted earnings per share	$ 111,951	$ 79,278
Equity awards (in shares)	1,012	929
Weighted average shares outstanding - diluted (in shares)	301,833	299,457
Net income per share (usd per share)	$ 0.37	$ 0.26

Earnings per Unit (Details)

Earnings per Unit (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Schedule of Earnings per Share [Line Items]
Net income	$ 112,246	$ 79,506
Non-forfeitable dividends on unvested restricted shares	(295)	(228)
Net income attributable to the Company’s common stockholders for basic earnings per share	$ 111,951	$ 79,278
Weighted average number shares outstanding – basic	300,821	298,528
Net income per share (usd per share)	$ 0.37	$ 0.27
Net income attributable to the Company’s common stockholders for diluted earnings per share	$ 111,951	$ 79,278
Equity awards (in shares)	1,012	929
Weighted average shares outstanding - diluted (in shares)	301,833	299,457
Net income per share (usd per share)	$ 0.37	$ 0.26
Brixmor Operating Partnership LP
Schedule of Earnings per Share [Line Items]
Net income	$ 112,246	$ 79,506
Non-forfeitable dividends on unvested restricted shares	(295)	(228)
Net income attributable to the Company’s common stockholders for basic earnings per share	$ 111,951	$ 79,278
Weighted average number shares outstanding – basic	300,821	298,528
Net income per share (usd per share)	$ 0.37	$ 0.27
Net income attributable to the Company’s common stockholders for diluted earnings per share	$ 111,951	$ 79,278
Equity awards (in shares)	1,012	929
Weighted average shares outstanding - diluted (in shares)	301,833	299,457
Net income per share (usd per share)	$ 0.37	$ 0.26

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($)	3 Months Ended
Commitments and Contingencies (Details) - USD ($)	Mar. 31, 2023	Mar. 31, 2022
Environmental Matters
Loss Contingencies [Line Items]
Litigation settlement	$ 0	$ 0

Related-Party Transactions (Det

Related-Party Transactions (Details) - USD ($)	3 Months Ended
Related-Party Transactions (Details) - USD ($)	Mar. 31, 2023	Mar. 31, 2022
Related Party Transactions [Abstract]
Related party transactions	$ 0	$ 0

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event - USD ($) $ in Millions	Apr. 25, 2023	May 01, 2023	Apr. 24, 2023
2024 Notes
Subsequent Event [Line Items]
Debt Instrument, Repurchase Amount	$ 199.6
Stated percentage	3.65%
Loss on extinguishment of debt, net	$ 4.3
Term Loan \| Delayed Draw
Subsequent Event [Line Items]
Stated percentage	3.59%
Term loan face amount		$ 200	$ 200

Uncategorized Items - brx-20230

Label	Element	Value
Subsidiaries [Member]
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents	us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	$ 20,332,000
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents	us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	$ 282,585,000