Brixmor Property (BRX) 10-Q28 Oct 242024 Q3 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	9 Months Ended
Cover Page - shares	Sep. 30, 2024	Oct. 01, 2024
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	001-36160
Entity Registrant Name	Brixmor Property Group Inc.
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	45-2433192
Entity Address, Address Line One	100 Park 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		302,063,370
Entity Central Index Key	0001581068
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Former Address
Entity Information [Line Items]
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
Brixmor Operating Partnership LP
Entity Information [Line Items]
Document Period End Date	Sep. 30, 2024
Entity File Number	333-256637-01
Entity Registrant Name	Brixmor Operating Partnership LP
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
Entity Central Index Key	0001630031
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Real estate
Land	$ 1,791,843	$ 1,794,011
Buildings and improvements	9,373,627	9,201,876
Real estate, gross	11,165,470	10,995,887
Accumulated depreciation and amortization	(3,372,860)	(3,198,980)
Real estate, net	7,792,610	7,796,907
Cash and cash equivalents	451,326	866
Restricted cash	1,121	18,038
Marketable securities	21,205	19,914
Receivables, net	260,571	278,775
Deferred charges and prepaid expenses, net	172,947	164,061
Other assets	50,037	54,155
Total assets	8,749,817	8,332,716
Liabilities
Debt obligations, net	5,338,681	4,933,525
Accounts payable, accrued expenses and other liabilities	530,560	548,890
Total liabilities	5,869,241	5,482,415
Commitments and contingencies (Note 15)	0	0
Equity
Common stock	3,020	3,006
Additional paid-in capital	3,331,941	3,310,590
Accumulated other comprehensive income (loss)	(759)	(2,700)
Distributions in excess of net income	(453,626)	(460,595)
Total equity	2,880,576	2,850,301
Total liabilities and equity	8,749,817	8,332,716
Brixmor Operating Partnership LP
Real estate
Land	1,791,843	1,794,011
Buildings and improvements	9,373,627	9,201,876
Real estate, gross	11,165,470	10,995,887
Accumulated depreciation and amortization	(3,372,860)	(3,198,980)
Real estate, net	7,792,610	7,796,907
Cash and cash equivalents	450,666	866
Restricted cash	1,121	18,038
Marketable securities	21,205	19,914
Receivables, net	260,571	278,775
Deferred charges and prepaid expenses, net	172,947	164,061
Other assets	50,037	54,155
Total assets	8,749,157	8,332,716
Liabilities
Debt obligations, net	5,338,681	4,933,525
Accounts payable, accrued expenses and other liabilities	530,560	548,911
Total liabilities	5,869,241	5,482,436
Commitments and contingencies (Note 15)	0	0
Equity
Common stock	2,880,675	2,852,980
Accumulated other comprehensive income (loss)	(759)	(2,700)
Total equity	2,879,916	2,850,280
Total liabilities and equity	$ 8,749,157	$ 8,332,716

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2024	Dec. 31, 2023
Common stock, par value (usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	3,000,000,000	3,000,000,000
Common stock, shares issued (in shares)	311,190,362	309,723,386
Common stock, shares outstanding (in shares)	302,063,370	300,596,394
Brixmor Operating Partnership LP
Common stock, shares issued (in shares)	311,190,362	309,723,386
Common stock, shares outstanding (in shares)	302,063,370	300,596,394

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenues
Rental income	$ 319,989	$ 307,118	$ 955,065	$ 927,440
Other revenues	693	196	1,547	1,111
Total revenues	320,682	307,314	956,612	928,551
Operating expenses
Operating costs	36,442	35,058	110,518	106,658
Real estate taxes	42,902	42,156	120,659	130,556
Depreciation and amortization	94,829	96,254	278,065	272,807
Impairment of real estate assets	5,863	0	11,143	17,836
General and administrative	30,250	29,182	88,430	86,868
Total operating expenses	210,286	202,650	608,815	614,725
Other income (expense)
Dividends and interest	5,289	273	15,798	345
Interest expense	(55,410)	(47,364)	(160,553)	(143,529)
Gain on sale of real estate assets	37,018	6,712	53,974	59,037
Gain on extinguishment of debt, net	273	6	554	4,356
Other	(726)	(555)	(1,700)	(1,645)
Total other expense	(13,556)	(40,928)	(91,927)	(81,436)
Net income	$ 96,840	$ 63,736	$ 255,870	$ 232,390
Net income per common share:
Basic (usd per share)	$ 0.32	$ 0.21	$ 0.84	$ 0.77
Diluted (usd per share)	$ 0.32	$ 0.21	$ 0.84	$ 0.77
Weighted average shares:
Basic (in shares)	302,676	301,007	302,518	300,955
Diluted (in shares)	303,608	302,511	303,377	302,447
Brixmor Operating Partnership LP
Revenues
Rental income	$ 319,989	$ 307,118	$ 955,065	$ 927,440
Other revenues	693	196	1,547	1,111
Total revenues	320,682	307,314	956,612	928,551
Operating expenses
Operating costs	36,442	35,058	110,518	106,658
Real estate taxes	42,902	42,156	120,659	130,556
Depreciation and amortization	94,829	96,254	278,065	272,807
Impairment of real estate assets	5,863	0	11,143	17,836
General and administrative	30,250	29,182	88,430	86,868
Total operating expenses	210,286	202,650	608,815	614,725
Other income (expense)
Dividends and interest	5,289	273	15,798	345
Interest expense	(55,410)	(47,364)	(160,553)	(143,529)
Gain on sale of real estate assets	37,018	6,712	53,974	59,037
Gain on extinguishment of debt, net	273	6	554	4,356
Other	(726)	(555)	(1,700)	(1,645)
Total other expense	(13,556)	(40,928)	(91,927)	(81,436)
Net income	$ 96,840	$ 63,736	$ 255,870	$ 232,390
Net income per common share:
Basic (usd per share)	$ 0.32	$ 0.21	$ 0.84	$ 0.77
Diluted (usd per share)	$ 0.32	$ 0.21	$ 0.84	$ 0.77
Weighted average shares:
Basic (in shares)	302,676	301,007	302,518	300,955
Diluted (in shares)	303,608	302,511	303,377	302,447

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Net income	$ 96,840	$ 63,736	$ 255,870	$ 232,390
Other comprehensive income (loss)
Change in unrealized gain (loss) on interest rate swaps, net (Note 6)	(13,484)	962	1,549	3,019
Change in unrealized gain on marketable securities	348	127	392	322
Other comprehensive income (loss)	(13,136)	1,089	1,941	3,341
Comprehensive income	83,704	64,825	257,811	235,731
Brixmor Operating Partnership LP
Net income	96,840	63,736	255,870	232,390
Other comprehensive income (loss)
Change in unrealized gain (loss) on interest rate swaps, net (Note 6)	(13,484)	962	1,549	3,019
Change in unrealized gain on marketable securities	348	127	392	322
Other comprehensive income (loss)	(13,136)	1,089	1,941	3,341
Comprehensive income	$ 83,704	$ 64,825	$ 257,811	$ 235,731

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)	Accumulated Other Comprehensive Income (Loss) Brixmor Operating Partnership LP	Distributions in Excess of Net Income
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)
Repurchases of common shares in conjunction with equity award plans	(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)
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]
Other comprehensive income (loss)	3,341	3,341
Net income	232,390	232,390
Ending balance (in shares) at Sep. 30, 2023			300,596
Ending balance at Sep. 30, 2023	2,868,380	2,868,357	$ 3,006	2,856,165	3,303,935	$ 12,192	12,192		(450,753)
Beginning balance (in shares) at Mar. 31, 2023			300,548
Beginning 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]
Common stock dividends	(78,755)	(78,754)		(78,754)					(78,755)
Equity based compensation expense	5,019	5,019		5,019	5,019
Other comprehensive income (loss)	5,983	5,983				5,983	5,983
Issuance of common stock (in shares)			45
Issuance of common stock	1	1	$ 1	1	0
Net income	56,408	56,408		56,408					56,408
Ending balance (in shares) at Jun. 30, 2023			300,593
Ending balance at Jun. 30, 2023	2,876,172	2,876,147	$ 3,006	2,865,044	3,297,798	11,103	11,103		(435,735)
Increase (Decrease) in Equity [Roll Forward]
Common stock dividends	(78,754)	(78,752)		(78,752)					(78,754)
Equity based compensation expense	6,139	6,139		6,139	6,139
Other comprehensive income (loss)	1,089	1,089				1,089	1,089
Issuance of common stock (in shares)			3
Issuance of common stock	0		$ 0		0
Repurchases of common shares in conjunction with equity award plans	(2)	(2)		(2)	(2)
Net income	63,736	63,736		63,736					63,736
Ending balance (in shares) at Sep. 30, 2023			300,596
Ending balance at Sep. 30, 2023	2,868,380	2,868,357	$ 3,006	2,856,165	3,303,935	12,192	12,192		(450,753)
Beginning balance (in shares) at Dec. 31, 2023			300,596
Beginning balance at Dec. 31, 2023	2,850,301	2,850,280	$ 3,006	2,852,980	3,310,590		(2,700)	(2,700)	(460,595)
Increase (Decrease) in Equity [Roll Forward]
Common stock dividends	(83,277)	(83,851)		(83,851)					(83,277)
Equity based compensation expense	3,781	3,781		3,781	3,781
Other comprehensive income (loss)	12,226	12,226					12,226	12,226
Issuance of common stock (in shares)			703
Issuance of common stock	0		$ 7		(7)
Repurchases of common shares in conjunction with equity award plans	(12,962)	(12,962)		(12,962)	(12,962)
Net income	88,905	88,905		88,905					88,905
Ending balance (in shares) at Mar. 31, 2024			301,299
Ending balance at Mar. 31, 2024	2,858,974	2,858,379	$ 3,013	2,848,853	3,301,402		9,526	9,526	(454,967)
Beginning balance (in shares) at Dec. 31, 2023			300,596
Beginning balance at Dec. 31, 2023	2,850,301	2,850,280	$ 3,006	2,852,980	3,310,590		(2,700)	(2,700)	(460,595)
Increase (Decrease) in Equity [Roll Forward]
Other comprehensive income (loss)	1,941	1,941
Net income	255,870	255,870
Ending balance (in shares) at Sep. 30, 2024			302,063
Ending balance at Sep. 30, 2024	2,880,576	2,879,916	$ 3,020	2,880,675	3,331,941	(759)	(759)		(453,626)
Beginning balance (in shares) at Mar. 31, 2024			301,299
Beginning balance at Mar. 31, 2024	2,858,974	2,858,379	$ 3,013	2,848,853	3,301,402		9,526	$ 9,526	(454,967)
Increase (Decrease) in Equity [Roll Forward]
Common stock dividends	(82,719)	(82,719)		(82,719)					(82,719)
Equity based compensation expense	5,955	5,955		5,955	5,955
Other comprehensive income (loss)	2,851	2,851				2,851	2,851
Issuance of common stock (in shares)			46
Issuance of common stock	0
Net income	70,125	70,125		70,125					70,125
Ending balance (in shares) at Jun. 30, 2024			301,345
Ending balance at Jun. 30, 2024	2,855,186	2,854,591	$ 3,013	2,842,214	3,307,357	12,377	12,377		(467,561)
Increase (Decrease) in Equity [Roll Forward]
Common stock dividends	(82,905)	(82,970)		(82,970)					(82,905)
Equity based compensation expense	5,375	5,375		5,375	5,375
Other comprehensive income (loss)	(13,136)	(13,136)				(13,136)	(13,136)
Issuance of common stock (in shares)			718
Issuance of common stock	19,235	19,235	$ 7	19,235	19,228
Repurchases of common shares in conjunction with equity award plans	(19)	(19)		(19)	(19)
Net income	96,840	96,840		96,840					96,840
Ending balance (in shares) at Sep. 30, 2024			302,063
Ending balance at Sep. 30, 2024	$ 2,880,576	$ 2,879,916	$ 3,020	$ 2,880,675	$ 3,331,941	$ (759)	$ (759)		$ (453,626)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical) - $ / shares	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Stockholders' Equity [Abstract]
Dividends, per common share (usd per share)	$ 0.2725	$ 0.2725	$ 0.2725	$ 0.2600	$ 0.2600	$ 0.2600	$ 0.8175	$ 0.7800

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended				9 Months Ended		12 Months Ended
	Sep. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Operating activities:
Net income	$ 96,840	$ 88,905	$ 63,736	$ 112,246	$ 255,870	$ 232,390
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization					278,065	272,807
Accretion of debt premium and discount, net					(2,148)	(2,198)
Deferred financing cost amortization					5,369	5,163
Accretion of above- and below-market leases, net					(7,271)	(9,361)
Tenant inducement amortization and other					1,937	3,205
Impairment of real estate assets	5,863				11,143	17,836
Gain on sale of real estate assets					(53,974)	(59,037)
Equity based compensation					13,855	14,559
Gain on extinguishment of debt, net					(554)	(4,356)
Changes in operating assets and liabilities:
Receivables, net					13,671	(937)
Deferred charges and prepaid expenses					(30,780)	(37,619)
Other assets					(642)	(760)
Accounts payable, accrued expenses and other liabilities					(15,027)	21,820
Net cash provided by operating activities					469,514	453,512
Investing activities:
Improvements to and investments in real estate assets					(255,423)	(254,426)
Acquisitions of real estate assets					(81,862)	(1,914)
Proceeds from sales of real estate assets					141,901	162,194
Purchase of marketable securities					(26,064)	(20,442)
Proceeds from sale of marketable securities					25,264	21,566
Net cash used in investing activities					(196,184)	(93,022)
Financing activities:
Repayment of borrowings under unsecured revolving credit facility					(98,500)	(480,000)
Proceeds from borrowings under unsecured revolving credit facility					80,000	360,000
Proceeds from unsecured notes and term loans					796,152	200,000
Repayment of borrowings under unsecured notes					(367,449)	(194,254)
Deferred financing and debt extinguishment costs					(7,714)	(700)
Proceeds from issuances of common shares					19,280	0
Distributions to common stockholders					(248,576)	(236,881)
Repurchases of common shares in conjunction with equity award plans					(12,980)	(11,231)
Net cash provided by (used in) financing activities					160,213	(363,066)
Net change in cash, cash equivalents and restricted cash					433,543	(2,576)
Cash, cash equivalents and restricted cash at beginning of period		18,904		21,259	18,904	21,259	$ 21,259
Cash, cash equivalents and restricted cash at end of period	452,447		18,683		452,447	18,683	18,904
Reconciliation to consolidated balance sheets:
Cash and cash equivalents	451,326		861		451,326	861	866
Restricted cash	1,121		17,822		1,121	17,822	18,038
Cash, cash equivalents and restricted cash at end of period	452,447		18,683		452,447	18,683	18,904
Supplemental disclosure of cash flow information:
Cash paid for interest, net of amount capitalized of $2,887 and $2,987					151,862	144,271
Brixmor Operating Partnership LP
Operating activities:
Net income	96,840	88,905	63,736	112,246	255,870	232,390
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization					278,065	272,807
Accretion of debt premium and discount, net					(2,148)	(2,198)
Deferred financing cost amortization					5,369	5,163
Accretion of above- and below-market leases, net					(7,271)	(9,361)
Tenant inducement amortization and other					1,937	3,205
Impairment of real estate assets					11,143	17,836
Gain on sale of real estate assets					(53,974)	(59,037)
Equity based compensation					13,855	14,559
Gain on extinguishment of debt, net					(554)	(4,356)
Changes in operating assets and liabilities:
Receivables, net					13,671	(937)
Deferred charges and prepaid expenses					(30,780)	(37,619)
Other assets					(642)	(760)
Accounts payable, accrued expenses and other liabilities					(15,027)	21,820
Net cash provided by operating activities					469,514	453,512
Investing activities:
Improvements to and investments in real estate assets					(255,423)	(254,426)
Acquisitions of real estate assets					(81,862)	(1,914)
Proceeds from sales of real estate assets					141,901	162,194
Purchase of marketable securities					(26,064)	(20,442)
Proceeds from sale of marketable securities					25,264	21,566
Net cash used in investing activities					(196,184)	(93,022)
Financing activities:
Repayment of borrowings under unsecured revolving credit facility					(98,500)	(480,000)
Proceeds from borrowings under unsecured revolving credit facility					80,000	360,000
Proceeds from unsecured notes and term loans					796,152	200,000
Repayment of borrowings under unsecured notes					(367,449)	(194,254)
Deferred financing and debt extinguishment costs					(7,714)	(700)
Proceeds from issuances of common shares					19,280	0
Partner distributions and repurchases of OP Units					(262,216)	(247,185)
Net cash provided by (used in) financing activities					159,553	(362,139)
Net change in cash, cash equivalents and restricted cash					432,883	(1,649)
Cash, cash equivalents and restricted cash at beginning of period		$ 18,904		$ 20,332	18,904	20,332	20,332
Cash, cash equivalents and restricted cash at end of period	451,787		18,683		451,787	18,683	18,904
Reconciliation to consolidated balance sheets:
Cash and cash equivalents	450,666		861		450,666	861	866
Restricted cash	1,121		17,822		1,121	17,822	18,038
Cash, cash equivalents and restricted cash at end of period	$ 451,787		$ 18,683		451,787	18,683	$ 18,904
Supplemental disclosure of cash flow information:
Cash paid for interest, net of amount capitalized of $2,887 and $2,987					$ 151,862	$ 144,271

CONDENSED CONSOLIDATED STATEM_6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Interest paid, capitalized	$ 2,887	$ 2,987
Brixmor Operating Partnership LP
Interest paid, capitalized	$ 2,887	$ 2,987

Nature of Business and Financia

Nature of Business and Financial Statement Presentation	9 Months Ended
Nature of Business and Financial Statement Presentation	Sep. 30, 2024
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 consolidated subsidiaries (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 September 30, 2024, the Company’s portfolio was comprised of 360 shopping centers (the "Portfolio") totaling approximately 63 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, 2023 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 12, 2024. 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 September 30, 2024 and December 31, 2023. Open tax years generally range from 2021 through 2023 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.

Acquisition of Real Estate

Acquisition of Real Estate	9 Months Ended
Acquisition of Real Estate	Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Acquisition of Real Estate	Acquisition of Real Estate During the nine months ended September 30, 2024, the Company acquired the following assets, in separate transactions: Description (1) Location Month Acquired GLA Aggregate Purchase Price (2) West Center East Setauket, NY Apr-24 42,594 $ 17,470 The Fresh Market Shoppes Hilton Head Island, SC Jul-24 86,398 23,848 Land at King's Market Roswell, GA Jul-24 N/A 2,337 Acton Plaza Acton, MA Aug-24 137,572 38,207 266,564 $ 81,862 (1) No debt was assumed related to the listed acquisitions. (2) Aggregate purchase price includes $0.7 million of transaction costs. During the nine months ended September 30, 2023, the Company acquired the following asset: Description (1) Location Month Acquired GLA Aggregate Purchase Price (2) Land at Aurora Plaza (3) Aurora, CO Apr-23 N/A $ 1,914 — $ 1,914 (1) No debt was assumed related to the listed acquisition. (2) Aggregate purchase price includes $0.1 million of transaction costs. (3) The Company terminated a ground lease and acquired the associated land parcel. The aggregate purchase price of the assets acquired during the nine months ended September 30, 2024 and 2023, respectively, has been allocated as follows: Nine Months Ended September 30, Assets 2024 2023 Land $ 23,451 $ 1,914 Buildings 42,039 — Building and tenant improvements 4,312 — Above-market leases (1) 169 — In-place leases (2) 18,009 — Total assets acquired $ 87,980 $ 1,914 Liabilities Below-market leases (3) $ 6,118 $ — Total liabilities 6,118 — Net assets acquired $ 81,862 $ 1,914 (1) The weighted average amortization period at the time of acquisition for above-market leases related to assets acquired during the nine months ended September 30, 2024 was 5.3 years. (2) The weighted average amortization period at the time of acquisition for in-place leases related to assets acquired during the nine months ended September 30, 2024 was 4.5 years. (3) The weighted average amortization period at the time of acquisition for below-market leases related to assets acquired during the nine months ended September 30, 2024 was 14.4 years.

Dispositions and Assets Held fo

Dispositions and Assets Held for Sale	9 Months Ended
Dispositions and Assets Held for Sale	Sep. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]
Dispositions and Assets Held for Sale	Dispositions and Assets Held for Sale During the three months ended September 30, 2024, the Company disposed of two shopping centers, three partial shopping centers, and one land parcel for aggregate net proceeds of $72.6 million, resulting in aggregate gain of $37.0 million and aggregate impairment of $0.3 million. In addition, during the three months ended September 30, 2024, the Company resolved contingencies related to previously disposed assets, resulting in a net loss of less than $0.1 million. During the nine months ended September 30, 2024, the Company disposed of five shopping centers, four partial shopping centers, and two land parcels for aggregate net proceeds of $140.0 million, resulting in aggregate gain of $52.1 million and aggregate impairment of $0.5 million. In addition, during the nine months ended September 30, 2024, the Company received aggregate net proceeds of $1.9 million related to land at one shopping center previously seized through eminent domain and resolved contingencies related to previously disposed assets, resulting in aggregate gain of $1.9 million. During the three months ended September 30, 2023, the Company disposed of one shopping center and one partial shopping center for aggregate net proceeds of $16.6 million, resulting in aggregate gain of $6.8 million. In addition, during the three months ended September 30, 2023, the Company resolved contingencies related to previously disposed assets, resulting in a net loss of $0.1 million. During the nine months ended September 30, 2023, the Company disposed of nine shopping centers and eight partial shopping centers for aggregate net proceeds of $161.9 million, resulting in aggregate gain of $58.9 million and aggregate impairment of $6.1 million. In addition, during the nine months ended September 30, 2023, the Company received aggregate net proceeds of $0.3 million related to a non-operating asset and resolved contingencies related to a previously disposed asset, resulting in net gain of $0.1 million. As of September 30, 2024 and December 31, 2023, the Company had no properties held for sale.

Real Estate

Real Estate	9 Months Ended
Real Estate	Sep. 30, 2024
Real Estate [Abstract]
Real Estate	Real Estate The Company’s components of Real estate, net consisted of the following: September 30, 2024 December 31, 2023 Land $ 1,791,843 $ 1,794,011 Buildings and improvements: Buildings and tenant improvements 8,872,234 8,696,881 Lease intangibles (1) 501,393 504,995 11,165,470 10,995,887 Accumulated depreciation and amortization (2) (3,372,860) (3,198,980) Total $ 7,792,610 $ 7,796,907 (1) As of September 30, 2024 and December 31, 2023, Lease intangibles consisted of $454.9 million and $456.8 million, respectively, of in-place leases and $46.5 million and $48.2 million, respectively, of above-market leases. These intangible assets are amortized over the term of each related lease. (2) As of September 30, 2024 and December 31, 2023, Accumulated depreciation and amortization included $440.9 million and $445.5 million, respectively, of accumulated amortization related to Lease intangibles. In addition, as of September 30, 2024 and December 31, 2023, the Company had intangible liabilities relating to below-market leases of $329.6 million and $329.8 million, respectively, and accumulated accretion of $248.9 million and $247.2 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 September 30, 2024 and 2023 was $2.4 million and $3.3 million, respectively. Below-market lease accretion income, net of above-market lease amortization for the nine months ended September 30, 2024 and 2023 was $7.3 million and $9.4 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 September 30, 2024 and 2023 was $3.6 million and $4.5 million, respectively. Amortization expense associated with in-place lease value for the nine months ended September 30, 2024 and 2023 was $10.0 million and $12.9 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 2024 (remaining three months) $ (2,378) $ 3,503 2025 (8,518) 11,745 2026 (7,515) 8,718 2027 (6,388) 6,705 2028 (5,832) 4,696

Impairments

Impairments	9 Months Ended
Impairments	Sep. 30, 2024
Impairment of Real Estate [Abstract]
Impairments	Impairments 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. 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 and nine months ended September 30, 2024: Three Months Ended September 30, 2024 Property Name (1) Location GLA Impairment Charge Southland Shopping Center - multi-tenant outparcel Middleburg Heights, OH 149,891 $ 5,611 Land at Springdale (2) Mobile, AL — 252 149,891 $ 5,863 Nine Months Ended September 30, 2024 Property Name (1) Location GLA Impairment Charge Southland Shopping Center - multi-tenant outparcel Middleburg Heights, OH 149,891 $ 5,611 Seacoast Shopping Center Seabrook, NH 89,634 5,062 Land at Springdale (2) Mobile, AL — 252 Victory Square - Bridgestone Outparcel (2) Savannah, GA 6,702 218 246,227 $ 11,143 (1) The Company recognized an impairment charge 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 nine months ended September 30, 2024. The Company did not recognize any impairments during the three months ended September 30, 2023. The Company recognized the following impairments during the nine months ended September 30, 2023: Nine Months Ended September 30, 2023 Property Name (1) Location GLA Impairment Charge The Quentin Collection Kildeer, IL 171,530 $ 11,705 Broadway Faire - Theater Box (2) Fresno, CA 39,983 2,102 Elk Grove Town Center (2) Elk Grove Village, IL 61,609 1,796 The Manchester Collection - Crossroads (2) Manchester, CT 14,867 1,155 Spring Mall (2) Greenfield, WI 45,920 1,078 333,909 $ 17,836 (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, 2023 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	9 Months Ended
Financial Instruments - Derivatives and Hedging	Sep. 30, 2024
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 market 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 or future cash flows associated with forecasted fixed-rate debt issuances. During the nine months ended September 30, 2024, the Company did not enter into any new interest rate swap agreements, terminated three outstanding interest rate swap agreements, and four interest rate swap agreements expired at maturity. During the year ended December 31, 2023, the Company entered into 10 interest rate swap agreements. The Company has elected to present its interest rate derivatives on its unaudited Consolidated Balance Sheets on a gross basis as interest rate swap assets and interest rate swap liabilities. 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. In May 2024, the Company terminated three outstanding forward-starting interest rate swaps with an aggregate notional amount of $150.0 million for aggregate net proceeds of $7.3 million. The forward-starting swaps were designated as hedges against interest rate risk on the issuance of the 2034 Notes (defined hereafter) and the 2035 Notes (defined hereafter), and thus the Company ascribed gains of $1.5 million and $5.8 million, respectively, to the notes. The gains are included in Accumulated other comprehensive loss on the Company's unaudited Condensed Consolidated Balance Sheets and will be amortized over the earlier of the term of the respective derivative instruments, or the term of the underlying notes, as a reduction to Interest expense on the Company’s unaudited Condensed Consolidated Statements of Operations. Detail on the terms and fair value of the Company’s interest rate derivatives designated as cash flow hedges outstanding as of September 30, 2024 is as follows: Fair Value Effective Date Maturity Date Swapped Variable Rate Fixed Rate Notional Amount Assets Liabilities 5/1/2023 7/26/2027 1 Month SOFR 3.5890 % $ 100,000 $ — $ (804) 5/1/2023 7/26/2027 1 Month SOFR 3.5950 % 75,000 — (614) 5/1/2023 7/26/2027 1 Month SOFR 3.5930 % 25,000 — (204) 7/26/2024 7/26/2027 1 Month SOFR 4.0767 % 100,000 — (2,110) 7/26/2024 7/26/2027 1 Month SOFR 4.0770 % 100,000 — (2,111) 7/26/2024 7/26/2027 1 Month SOFR 4.0767 % 50,000 — (1,055) 7/26/2024 7/26/2027 1 Month SOFR 4.0770 % 50,000 — (1,055) $ 500,000 $ — $ (7,953) Detail on the terms and fair value of the Company’s interest rate derivatives designated as cash flow hedges outstanding as of December 31, 2023 is as follows: Fair Value Effective Date Maturity Date Swapped Variable Rate Fixed Rate Notional Amount Assets Liabilities 6/1/2022 7/26/2024 1 Month SOFR (1) 2.5875 % $ 50,000 $ 710 $ — 6/1/2022 7/26/2024 1 Month SOFR (1) 2.5960 % 50,000 707 — 6/1/2022 7/26/2024 1 Month SOFR (1) 2.5860 % 100,000 1,421 — 6/1/2022 7/26/2024 1 Month SOFR (1) 2.5850 % 100,000 1,421 — 5/1/2023 7/26/2027 1 Month SOFR (2) 3.5890 % 100,000 59 — 5/1/2023 7/26/2027 1 Month SOFR (2) 3.5950 % 75,000 34 — 5/1/2023 7/26/2027 1 Month SOFR (2) 3.5930 % 25,000 12 — 7/26/2024 7/26/2027 1 Month SOFR (3) 4.0767 % 100,000 — (2,073) 7/26/2024 7/26/2027 1 Month SOFR (3) 4.0770 % 100,000 — (2,077) 7/26/2024 7/26/2027 1 Month SOFR (3) 4.0767 % 50,000 — (1,038) 7/26/2024 7/26/2027 1 Month SOFR (3) 4.0770 % 50,000 — (1,039) 6/14/2024 6/14/2034 Compound SOFR (4) 3.4400 % 100,000 — (437) 6/14/2024 6/14/2034 Compound SOFR (4) 3.4370 % 25,000 — (104) 6/14/2024 6/14/2034 Compound SOFR (4) 3.4400 % 25,000 — (109) $ 950,000 $ 4,364 $ (6,877) (1) Swapped variable rate includes a SOFR adjustment of 10 basis points. (2) In April 2023, the Company entered into three interest rate swap agreements with an aggregate notional amount of $200.0 million. The interest rate swap agreements were designated as cash flow hedges that effectively fix the SOFR component of the interest rate on a portion of the outstanding debt under the Term Loan Facility (defined hereafter) at 3.59%. (3) In November 2023, the Company entered into four forward-starting interest rate swap agreements with an aggregate notional amount of $300.0 million. The forward-starting interest rate swap agreements were designated as cash flow hedges that effectively fix the SOFR component of the interest rate on a portion of the outstanding debt under the Term Loan Facility at 4.08% beginning on the effective date. (4) In December 2023, the Company entered into three forward-starting interest rate swap agreements with an aggregate notional amount of $150.0 million to hedge against changes in future cash flows resulting from changes in interest rates from the trade date through the forecasted issuance date of $150.0 million of long-term debt. The Company hedged its exposure to the variability in future cash flows for a forecasted issuance of long-term debt over a maximum period ending June 2026. The forward-starting interest rate swaps were designated as cash flow hedges. 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 volatility. 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) on the Company's unaudited Condensed Consolidated Statements of Comprehensive Income and is reclassified into earnings as interest expense in the period that the hedged 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 and nine months ended September 30, 2024 and 2023 is as follows: Derivatives in Cash Flow Hedging Relationships Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Change in unrealized gain (loss) on interest rate swaps $ (11,161) $ 3,932 $ 10,062 $ 9,906 Accretion of interest rate swaps to interest expense (2,323) (2,970) (8,513) (6,887) Change in unrealized gain (loss) on interest rate swaps, net $ (13,484) $ 962 $ 1,549 $ 3,019 The Company estimates that $0.2 million will be reclassified from Accumulated other comprehensive 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 and nine months ended September 30, 2024 and 2023. Non-Designated (Mark-to-Market) Hedges of Interest Rate Risk The Company does not use derivatives for trading or speculative purposes. As of September 30, 2024 and December 31, 2023, 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 was to be declared in default on its derivative contracts, it would be required to settle its obligations under such agreements at their termination value, including accrued interest.

Debt Obligations

Debt Obligations	9 Months Ended
Debt Obligations	Sep. 30, 2024
Debt Disclosure [Abstract]
Debt Obligations	Debt Obligations As of September 30, 2024 and December 31, 2023, the Company had the following indebtedness outstanding: Carrying Value as of September 30, December 31, Stated Interest Rate (1) Scheduled Notes payable Unsecured notes (2) $ 4,850,765 $ 4,418,805 2.25% – 7.97% 2025 – 2035 Net unamortized premium 14,980 20,974 Net unamortized debt issuance costs (21,867) (17,680) Total notes payable, net $ 4,843,878 $ 4,422,099 Unsecured Credit Facility Revolving Facility (3) $ — $ 18,500 5.89% 2026 Term Loan Facility (3)(4)(5) 500,000 500,000 6.23% 2027 Net unamortized debt issuance costs (5,197) (7,074) Total Unsecured Credit Facility and term loans $ 494,803 $ 511,426 Total debt obligations, net $ 5,338,681 $ 4,933,525 (1) Stated interest rates as of September 30, 2024 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 4.01% as of September 30, 2024. (3) The Company's Revolving Facility (defined hereafter) and Term Loan Facility include a sustainability metric incentive, which can reduce the applicable credit spread by up to two basis points. (4) Effective July 26, 2024, the Company has in place four interest rate swap agreements that convert the variable interest rate on $300.0 million outstanding under the Term Loan Facility to a fixed, combined interest rate of 4.08% (plus a spread, currently 93 basis points and SOFR adjustment of 10 basis points) through the maturity of the Term Loan Facility on July 26, 2027. (5) Effective May 1, 2023, the Company has in place three interest rate swap agreements that convert the variable interest rate on $200.0 million outstanding under the Term Loan Facility to a fixed, combined interest rate of 3.59% (plus a spread, currently 93 basis points and SOFR adjustment of 10 basis points) through the maturity of the Term Loan Facility on July 26, 2027. 2024 Debt Transactions The Operating Partnership has an unsecured credit facility as amended and restated on April 28, 2022 (the "Unsecured Credit Facility"), which is comprised of a $1.25 billion revolving loan facility (the "Revolving Facility") and a $500.0 million term loan (the "Term Loan Facility"). During the nine months ended September 30, 2024, the Operating Partnership repaid $18.5 million, net of borrowings, under the Revolving Facility, with proceeds from dispositions and the issuance of the 2034 Notes. During the nine months ended September 30, 2024, the Operating Partnership repaid $300.4 million principal amount of the 3.650% Senior Notes due 2024 (the "2024 Notes"), representing all of the outstanding 2024 Notes, and $67.7 million principal amount of the 3.850% Senior Notes due 2025 (the "2025 Notes"), with $632.3 million aggregate principal amount of the 2025 Notes remaining outstanding. The Operating Partnership funded the 2024 Notes and 2025 Notes repayments with proceeds from the issuance of the 2034 Notes and 2035 Notes and dispositions. In connection with the repayment of the 2025 Notes, the Company recognized a $0.6 million gain on extinguishment of debt during the nine months ended September 30, 2024. On January 12, 2024, the Operating Partnership issued $400.0 million aggregate principal amount of Senior Notes due 2034 (the "2034 Notes") at 99.816% of par. The Operating Partnership intends to use the net proceeds for general corporate purposes, including the repayment of indebtedness. The 2034 Notes bear interest at a rate of 5.500% per annum, payable semi-annually on February 15 and August 15 of each year, commencing August 15, 2024. The 2034 Notes will mature on February 15, 2034. On May 28, 2024, the Operating Partnership issued $400.0 million aggregate principal amount of Senior Notes due 2035 (the "2035 Notes") at 99.222% of par. The Operating Partnership intends to use the net proceeds for general corporate purposes, including the repayment of indebtedness. The 2035 Notes bear interest at a rate of 5.750% per annum, payable semi-annually on February 15 and August 15 of each year, commencing August 15, 2024. The 2035 Notes will mature on February 15, 2035. 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 September 30, 2024. Debt Maturities As of September 30, 2024 and December 31, 2023, the Company had accrued interest of $45.6 million and $47.1 million outstanding, respectively. As of September 30, 2024, scheduled maturities of the Company’s outstanding debt obligations were as follows: Year ending December 31, 2024 (remaining three months) $ — 2025 632,312 2026 607,542 2027 900,000 2028 357,708 Thereafter 2,853,203 Total debt maturities 5,350,765 Net unamortized premium 14,980 Net unamortized debt issuance costs (27,064) Total debt obligations, net $ 5,338,681 As of the date the financial statements were issued, the Company's scheduled debt maturities for the next 12 months were comprised of the $632.3 million outstanding principal balance on the 2025 Notes. The Company has sufficient cash and cash equivalents and liquidity to satisfy this scheduled debt maturity.

Fair Value Disclosures

Fair Value Disclosures	9 Months Ended
Fair Value Disclosures	Sep. 30, 2024
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: September 30, 2024 December 31, 2023 Carrying Fair Carrying Fair Notes payable $ 4,843,878 $ 4,783,670 $ 4,422,099 $ 4,155,332 Unsecured Credit Facility 494,803 500,000 511,426 518,500 Total debt obligations, net $ 5,338,681 $ 5,283,670 $ 4,933,525 $ 4,673,832 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 that are measured and recognized at fair value on a recurring basis: Fair Value Measurements as of September 30, 2024 Balance Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs Significant Unobservable Inputs Assets: Marketable securities (1) $ 21,205 $ 739 $ 20,466 $ — Liabilities: Interest rate derivatives $ (7,953) $ — $ (7,953) $ — Fair Value Measurements as of December 31, 2023 Balance Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs Significant Unobservable Inputs Assets: Marketable securities (1) $ 19,914 $ 656 $ 19,258 $ — Interest rate derivatives 4,364 — 4,364 — Liabilities: Interest rate derivatives $ (6,877) $ — $ (6,877) $ — (1) As of September 30, 2024 and December 31, 2023, marketable securities included $0.2 million of net unrealized gain and $0.2 million of net unrealized loss, respectively. As of September 30, 2024, the contractual maturities of the Company’s marketable securities were 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 nine months ended September 30, 2024 and year ended December 31, 2023, excluding the properties sold prior to September 30, 2024 or December 31, 2023, respectively: Fair Value Measurements as of September 30, 2024 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)(3) $ 6,548 $ — $ — $ 6,548 $ 10,673 Fair Value Measurements as of December 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 (4)(5) $ 14,987 $ — $ — $ 14,987 $ 11,705 (1) Excludes properties disposed of prior to September 30, 2024. (2) The carrying value of Seacoast Shopping Center, which was remeasured to fair value based on an income approach valuation using the direct capitalization method during the nine months ended September 30, 2024, is $5.7 million. The capitalization rate of 8.00% utilized in the analysis was based upon unobservable inputs that the Company believes to be within a reasonable range of current market rates for the property. (3) The carrying value of Southland Shopping Center - multi-tenant outparcel, which was remeasured to fair value based upon offers from third-party buyers during the nine months ended September 30, 2024, is $0.8 million. (4) Excludes properties disposed of prior to December 31, 2023. (5) The carrying value of The Quentin Collection, which was remeasured to fair value based on an income approach valuation using the direct capitalization method during the year ended December 31, 2023, is $15.0 million. The capitalization rate of 8.75% utilized in the analysis was based upon unobservable inputs that the Company believes to be within a reasonable range of current market rates for the property.

Revenue Recognition

Revenue Recognition	9 Months Ended
Revenue Recognition	Sep. 30, 2024
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 Additionally, certain leases may require variable lease payments associated with percentage rents, which are calculated based on underlying tenant sales. The Company recognized $1.3 million and $1.6 million of income based on percentage rents for the three months ended September 30, 2024 and 2023, respectively. The Company recognized $7.9 million and $7.3 million of income based on percentage rents for the nine months ended September 30, 2024 and 2023, respectively. These amounts are included in Rental income on the Company’s unaudited Condensed Consolidated Statements of Operations.

Leases

Leases	9 Months Ended
Leases	Sep. 30, 2024
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 September 30, 2024, 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 September 30, Nine Months Ended September 30, Supplemental Statements of Operations Information 2024 2023 2024 2023 Operating lease costs $ 928 $ 1,410 $ 928 $ 4,227 Variable lease costs 66 88 318 350 Total lease costs $ 994 $ 1,498 $ 1,246 $ 4,577 Nine Months Ended September 30, Supplemental Statements of Cash Flows Information 2024 2023 Operating cash outflows from operating leases $ 4,252 $ 4,496 ROU assets obtained in exchange for operating lease liabilities 3,558 90 ROU asset reduction due to dispositions, held for sale, and lease modifications (6,581) (144) Operating Lease Liabilities As of Future minimum operating lease payments: 2024 (remaining three months) $ 1,423 2025 5,647 2026 4,776 2027 2,893 2028 2,052 2029 1,975 Thereafter 29,044 Total future minimum operating lease payments 47,810 Less: imputed interest (15,742) Operating lease liabilities $ 32,068 Supplemental Balance Sheets Information As of As of December 31, 2023 Operating lease liabilities (1)(2) $ 32,068 $ 36,105 ROU assets (1)(3) 29,429 32,350 (1) As of September 30, 2024 and December 31, 2023, the weighted average remaining lease term was 16.7 years and 16.0 years, respectively, and the weighted average discount rate was 4.73% and 4.48%, 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 As of September 30, 2024 there were no material leases that have been executed but not yet commenced.

Equity and Capital

Equity and Capital	9 Months Ended
Equity and Capital	Sep. 30, 2024
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. During the nine months ended September 30, 2024, the Company issued 0.7 million shares of common stock under the ATM Program at an average price per share of $27.92 for total gross proceeds of $20.0 million, excluding commissions and fees. The Company incurred commissions and fees of $0.7 million in conjunction with the ATM Program for the nine months ended September 30, 2024. During the nine months ended September 30, 2023, the Company did not issue any shares of common stock under the ATM Program. As of September 30, 2024, $380.0 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. During the nine months ended September 30, 2024 and 2023, the Company did not repurchase any shares of common stock. As of September 30, 2024, 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 nine months ended September 30, 2024 and 2023, the Company withheld 0.6 million and 0.5 million shares of its common stock, respectively. Dividends and Distributions During the three months ended September 30, 2024 and 2023, the Company's board of directors declared common stock dividends and OP Unit distributions of $0.2725 per share/unit and $0.2600 per share/unit, respectively. During the nine months ended September 30, 2024 and 2023, the Company's board of directors declared common stock dividends and OP Unit distributions of $0.8175 per share/unit and $0.7800 per share/unit, respectively. As of September 30, 2024 and December 31, 2023, the Company had declared but unpaid common stock dividends and OP Unit distributions of $86.0 million and $85.7 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	9 Months Ended
Stock Based Compensation	Sep. 30, 2024
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 nine months ended September 30, 2024 and the year ended December 31, 2023, 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 0.8 million and 0.7 million for the nine months ended September 30, 2024 and the year ended December 31, 2023, respectively, with vesting periods ranging from one Assumption Nine Months Ended September 30, 2024 Year Ended, Volatility 23.0% - 28.0% 32.0% - 52.0% Weighted average risk-free interest rate 4.03% - 4.92% 3.79% - 5.18% Weighted average common stock dividend yield 4.4% - 4.7% 4.3% - 4.8% During the three months ended September 30, 2024 and 2023, the Company recognized $5.4 million and $6.1 million of equity compensation expense, respectively, of which $0.3 million and $0.4 million was capitalized, respectively. During the nine months ended September 30, 2024 and 2023, the Company recognized $15.1 million and $15.7 million of equity compensation expense, respectively, of which $1.3 million and $1.1 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 September 30, 2024, the Company had $18.8 million of total unrecognized compensation expense related to unvested stock compensation, which is expected to be recognized over a weighted average period of approximately 2.0 years.

Earnings Per Share

Earnings Per Share	9 Months Ended
Earnings Per Share	Sep. 30, 2024
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 and nine months ended September 30, 2024 and 2023 (dollars in thousands, except per share data): Three Months Nine Months 2024 2023 2024 2023 Computation of Basic Earnings Per Share: Net income $ 96,840 $ 63,736 $ 255,870 $ 232,390 Non-forfeitable dividends on unvested restricted shares (167) (216) (418) (620) Net income attributable to the Company’s common stockholders for basic earnings per share $ 96,673 $ 63,520 $ 255,452 $ 231,770 Weighted average number shares outstanding – basic 302,676 301,007 302,518 300,955 Basic earnings per share attributable to the Company’s common stockholders: Net income per share $ 0.32 $ 0.21 $ 0.84 $ 0.77 Computation of Diluted Earnings Per Share: Net income attributable to the Company’s common stockholders for diluted earnings per share $ 96,673 $ 63,520 $ 255,452 $ 231,770 Weighted average shares outstanding – basic 302,676 301,007 302,518 300,955 Effect of dilutive securities: Equity awards 932 1,504 859 1,492 Weighted average shares outstanding – diluted 303,608 302,511 303,377 302,447 Diluted earnings per share attributable to the Company’s common stockholders: Net income per share $ 0.32 $ 0.21 $ 0.84 $ 0.77

Earnings per Unit

Earnings per Unit	9 Months Ended
Earnings per Unit	Sep. 30, 2024
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 and nine months ended September 30, 2024 and 2023 (dollars in thousands, except per share data): Three Months Nine Months 2024 2023 2024 2023 Computation of Basic Earnings Per Share: Net income $ 96,840 $ 63,736 $ 255,870 $ 232,390 Non-forfeitable dividends on unvested restricted shares (167) (216) (418) (620) Net income attributable to the Company’s common stockholders for basic earnings per share $ 96,673 $ 63,520 $ 255,452 $ 231,770 Weighted average number shares outstanding – basic 302,676 301,007 302,518 300,955 Basic earnings per share attributable to the Company’s common stockholders: Net income per share $ 0.32 $ 0.21 $ 0.84 $ 0.77 Computation of Diluted Earnings Per Share: Net income attributable to the Company’s common stockholders for diluted earnings per share $ 96,673 $ 63,520 $ 255,452 $ 231,770 Weighted average shares outstanding – basic 302,676 301,007 302,518 300,955 Effect of dilutive securities: Equity awards 932 1,504 859 1,492 Weighted average shares outstanding – diluted 303,608 302,511 303,377 302,447 Diluted earnings per share attributable to the Company’s common stockholders: Net income per share $ 0.32 $ 0.21 $ 0.84 $ 0.77
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 and nine months ended September 30, 2024 and 2023 (dollars in thousands, except per unit data): Three Months Nine Months 2024 2023 2024 2023 Computation of Basic Earnings Per Unit: Net income $ 96,840 $ 63,736 $ 255,870 $ 232,390 Non-forfeitable dividends on unvested restricted units (167) (216) (418) (620) Net income attributable to the Operating Partnership’s common units for basic earnings per unit $ 96,673 $ 63,520 $ 255,452 $ 231,770 Weighted average number common units outstanding – basic 302,676 301,007 302,518 300,955 Basic earnings per unit attributable to the Operating Partnership’s common units: Net income per unit $ 0.32 $ 0.21 $ 0.84 $ 0.77 Computation of Diluted Earnings Per Unit: Net income attributable to the Operating Partnership’s common units for diluted earnings per unit $ 96,673 $ 63,520 $ 255,452 $ 231,770 Weighted average common units outstanding – basic 302,676 301,007 302,518 300,955 Effect of dilutive securities: Equity awards 932 1,504 859 1,492 Weighted average common units outstanding – diluted 303,608 302,511 303,377 302,447 Diluted earnings per unit attributable to the Operating Partnership’s common units: Net income per unit $ 0.32 $ 0.21 $ 0.84 $ 0.77

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2024
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 and nine months ended September 30, 2024 and 2023, the Company did not incur any material governmental fines resulting from environmental matters.

Related-Party Transactions

Related-Party Transactions	9 Months Ended
Related-Party Transactions	Sep. 30, 2024
Related Party Transactions [Abstract]
Related-Party Transactions	Related-Party Transactions As of September 30, 2024 and December 31, 2023, there were no material receivables from or payables to related parties. During the three and nine months ended September 30, 2024 and 2023, the Company did not engage in any material related-party transactions.

Subsequent Events

Subsequent Events	9 Months Ended
Subsequent Events	Sep. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsIn preparing the unaudited Condensed Consolidated Financial Statements, the Company has evaluated events and transactions occurring after September 30, 2024 for recognition and/or disclosure purposes. Based on this evaluation, there were no subsequent events from September 30, 2024 through the date the financial statements were issued

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	9 Months Ended
Insider Trading Arrangements	Sep. 30, 2024 shares	Sep. 30, 2024 shares
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On September 9, 2024, Brian T. Finnegan, the Company's President, Chief Operating Officer adopted a trading plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) promulgated under the Exchange Act. The plan covers sales of up to an aggregate of 30,000 shares of the Company's common stock at price and volume thresholds and during specified trading periods between January 2, 2025 and December 31, 2025, as set forth in the plan. Except as discussed above, during the three months ended September 30, 2024, no director or officer of the Company adopted or terminated a "Rule 10b5-1 trading arrangement" or a "non-Rule 10b5-1 trading arrangement," as each term is defined in Item 408(a) of Regulation S-K.
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Brian T. Finnegan [Member]
Trading Arrangements, by Individual
Name	Brian T. Finnegan
Title	Chief Operating Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	September 9, 2024
Expiration Date	December 31, 2025
Arrangement Duration	363 days
Aggregate Available	30,000	30,000

Nature of Business and Financ_2

Nature of Business and Financial Statement Presentation (Policies)	9 Months Ended
	Sep. 30, 2024
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, 2023 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 12, 2024.
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 September 30, 2024 and December 31, 2023. Open tax years generally range from 2021 through 2023 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)	9 Months Ended
Acquisition of Real Estate (Tables)	Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Schedule of Asset Acquisition	During the nine months ended September 30, 2024, the Company acquired the following assets, in separate transactions: Description (1) Location Month Acquired GLA Aggregate Purchase Price (2) West Center East Setauket, NY Apr-24 42,594 $ 17,470 The Fresh Market Shoppes Hilton Head Island, SC Jul-24 86,398 23,848 Land at King's Market Roswell, GA Jul-24 N/A 2,337 Acton Plaza Acton, MA Aug-24 137,572 38,207 266,564 $ 81,862 (1) No debt was assumed related to the listed acquisitions. (2) Aggregate purchase price includes $0.7 million of transaction costs. During the nine months ended September 30, 2023, the Company acquired the following asset: Description (1) Location Month Acquired GLA Aggregate Purchase Price (2) Land at Aurora Plaza (3) Aurora, CO Apr-23 N/A $ 1,914 — $ 1,914 (1) No debt was assumed related to the listed acquisition. (2) Aggregate purchase price includes $0.1 million of transaction costs. (3) The Company terminated a ground lease and acquired the associated land parcel. The aggregate purchase price of the assets acquired during the nine months ended September 30, 2024 and 2023, respectively, has been allocated as follows: Nine Months Ended September 30, Assets 2024 2023 Land $ 23,451 $ 1,914 Buildings 42,039 — Building and tenant improvements 4,312 — Above-market leases (1) 169 — In-place leases (2) 18,009 — Total assets acquired $ 87,980 $ 1,914 Liabilities Below-market leases (3) $ 6,118 $ — Total liabilities 6,118 — Net assets acquired $ 81,862 $ 1,914 (1) The weighted average amortization period at the time of acquisition for above-market leases related to assets acquired during the nine months ended September 30, 2024 was 5.3 years. (2) The weighted average amortization period at the time of acquisition for in-place leases related to assets acquired during the nine months ended September 30, 2024 was 4.5 years. (3) The weighted average amortization period at the time of acquisition for below-market leases related to assets acquired during the nine months ended September 30, 2024 was 14.4 years.

Real Estate (Tables)

Real Estate (Tables)	9 Months Ended
Real Estate (Tables)	Sep. 30, 2024
Real Estate [Abstract]
Schedule of Real Estate Properties	The Company’s components of Real estate, net consisted of the following: September 30, 2024 December 31, 2023 Land $ 1,791,843 $ 1,794,011 Buildings and improvements: Buildings and tenant improvements 8,872,234 8,696,881 Lease intangibles (1) 501,393 504,995 11,165,470 10,995,887 Accumulated depreciation and amortization (2) (3,372,860) (3,198,980) Total $ 7,792,610 $ 7,796,907 (1) As of September 30, 2024 and December 31, 2023, Lease intangibles consisted of $454.9 million and $456.8 million, respectively, of in-place leases and $46.5 million and $48.2 million, respectively, of above-market leases. These intangible assets are amortized over the term of each related lease. (2) As of September 30, 2024 and December 31, 2023, Accumulated depreciation and amortization included $440.9 million and $445.5 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 2024 (remaining three months) $ (2,378) $ 3,503 2025 (8,518) 11,745 2026 (7,515) 8,718 2027 (6,388) 6,705 2028 (5,832) 4,696

Impairments (Tables)

Impairments (Tables)	9 Months Ended
Impairments (Tables)	Sep. 30, 2024
Impairment of Real Estate [Abstract]
Schedule of Impairments	The Company recognized the following impairments during the three and nine months ended September 30, 2024: Three Months Ended September 30, 2024 Property Name (1) Location GLA Impairment Charge Southland Shopping Center - multi-tenant outparcel Middleburg Heights, OH 149,891 $ 5,611 Land at Springdale (2) Mobile, AL — 252 149,891 $ 5,863 Nine Months Ended September 30, 2024 Property Name (1) Location GLA Impairment Charge Southland Shopping Center - multi-tenant outparcel Middleburg Heights, OH 149,891 $ 5,611 Seacoast Shopping Center Seabrook, NH 89,634 5,062 Land at Springdale (2) Mobile, AL — 252 Victory Square - Bridgestone Outparcel (2) Savannah, GA 6,702 218 246,227 $ 11,143 (1) The Company recognized an impairment charge 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 nine months ended September 30, 2024. The Company did not recognize any impairments during the three months ended September 30, 2023. The Company recognized the following impairments during the nine months ended September 30, 2023: Nine Months Ended September 30, 2023 Property Name (1) Location GLA Impairment Charge The Quentin Collection Kildeer, IL 171,530 $ 11,705 Broadway Faire - Theater Box (2) Fresno, CA 39,983 2,102 Elk Grove Town Center (2) Elk Grove Village, IL 61,609 1,796 The Manchester Collection - Crossroads (2) Manchester, CT 14,867 1,155 Spring Mall (2) Greenfield, WI 45,920 1,078 333,909 $ 17,836 (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, 2023

Financial Instruments - Deriv_2

Financial Instruments - Derivatives and Hedging (Tables)	9 Months Ended
Financial Instruments - Derivatives and Hedging (Tables)	Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Interest Rate Derivatives	Detail on the terms and fair value of the Company’s interest rate derivatives designated as cash flow hedges outstanding as of September 30, 2024 is as follows: Fair Value Effective Date Maturity Date Swapped Variable Rate Fixed Rate Notional Amount Assets Liabilities 5/1/2023 7/26/2027 1 Month SOFR 3.5890 % $ 100,000 $ — $ (804) 5/1/2023 7/26/2027 1 Month SOFR 3.5950 % 75,000 — (614) 5/1/2023 7/26/2027 1 Month SOFR 3.5930 % 25,000 — (204) 7/26/2024 7/26/2027 1 Month SOFR 4.0767 % 100,000 — (2,110) 7/26/2024 7/26/2027 1 Month SOFR 4.0770 % 100,000 — (2,111) 7/26/2024 7/26/2027 1 Month SOFR 4.0767 % 50,000 — (1,055) 7/26/2024 7/26/2027 1 Month SOFR 4.0770 % 50,000 — (1,055) $ 500,000 $ — $ (7,953) Detail on the terms and fair value of the Company’s interest rate derivatives designated as cash flow hedges outstanding as of December 31, 2023 is as follows: Fair Value Effective Date Maturity Date Swapped Variable Rate Fixed Rate Notional Amount Assets Liabilities 6/1/2022 7/26/2024 1 Month SOFR (1) 2.5875 % $ 50,000 $ 710 $ — 6/1/2022 7/26/2024 1 Month SOFR (1) 2.5960 % 50,000 707 — 6/1/2022 7/26/2024 1 Month SOFR (1) 2.5860 % 100,000 1,421 — 6/1/2022 7/26/2024 1 Month SOFR (1) 2.5850 % 100,000 1,421 — 5/1/2023 7/26/2027 1 Month SOFR (2) 3.5890 % 100,000 59 — 5/1/2023 7/26/2027 1 Month SOFR (2) 3.5950 % 75,000 34 — 5/1/2023 7/26/2027 1 Month SOFR (2) 3.5930 % 25,000 12 — 7/26/2024 7/26/2027 1 Month SOFR (3) 4.0767 % 100,000 — (2,073) 7/26/2024 7/26/2027 1 Month SOFR (3) 4.0770 % 100,000 — (2,077) 7/26/2024 7/26/2027 1 Month SOFR (3) 4.0767 % 50,000 — (1,038) 7/26/2024 7/26/2027 1 Month SOFR (3) 4.0770 % 50,000 — (1,039) 6/14/2024 6/14/2034 Compound SOFR (4) 3.4400 % 100,000 — (437) 6/14/2024 6/14/2034 Compound SOFR (4) 3.4370 % 25,000 — (104) 6/14/2024 6/14/2034 Compound SOFR (4) 3.4400 % 25,000 — (109) $ 950,000 $ 4,364 $ (6,877) (1) Swapped variable rate includes a SOFR adjustment of 10 basis points. (2) In April 2023, the Company entered into three interest rate swap agreements with an aggregate notional amount of $200.0 million. The interest rate swap agreements were designated as cash flow hedges that effectively fix the SOFR component of the interest rate on a portion of the outstanding debt under the Term Loan Facility (defined hereafter) at 3.59%. (3) In November 2023, the Company entered into four forward-starting interest rate swap agreements with an aggregate notional amount of $300.0 million. The forward-starting interest rate swap agreements were designated as cash flow hedges that effectively fix the SOFR component of the interest rate on a portion of the outstanding debt under the Term Loan Facility at 4.08% beginning on the effective date. (4)
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 and nine months ended September 30, 2024 and 2023 is as follows: Derivatives in Cash Flow Hedging Relationships Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Change in unrealized gain (loss) on interest rate swaps $ (11,161) $ 3,932 $ 10,062 $ 9,906 Accretion of interest rate swaps to interest expense (2,323) (2,970) (8,513) (6,887) Change in unrealized gain (loss) on interest rate swaps, net $ (13,484) $ 962 $ 1,549 $ 3,019

Debt Obligations (Tables)

Debt Obligations (Tables)	9 Months Ended
Debt Obligations (Tables)	Sep. 30, 2024
Debt Disclosure [Abstract]
Schedule of Long-Term Debt Instruments	As of September 30, 2024 and December 31, 2023, the Company had the following indebtedness outstanding: Carrying Value as of September 30, December 31, Stated Interest Rate (1) Scheduled Notes payable Unsecured notes (2) $ 4,850,765 $ 4,418,805 2.25% – 7.97% 2025 – 2035 Net unamortized premium 14,980 20,974 Net unamortized debt issuance costs (21,867) (17,680) Total notes payable, net $ 4,843,878 $ 4,422,099 Unsecured Credit Facility Revolving Facility (3) $ — $ 18,500 5.89% 2026 Term Loan Facility (3)(4)(5) 500,000 500,000 6.23% 2027 Net unamortized debt issuance costs (5,197) (7,074) Total Unsecured Credit Facility and term loans $ 494,803 $ 511,426 Total debt obligations, net $ 5,338,681 $ 4,933,525 (1) Stated interest rates as of September 30, 2024 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 4.01% as of September 30, 2024. (3) The Company's Revolving Facility (defined hereafter) and Term Loan Facility include a sustainability metric incentive, which can reduce the applicable credit spread by up to two basis points. (4) Effective July 26, 2024, the Company has in place four interest rate swap agreements that convert the variable interest rate on $300.0 million outstanding under the Term Loan Facility to a fixed, combined interest rate of 4.08% (plus a spread, currently 93 basis points and SOFR adjustment of 10 basis points) through the maturity of the Term Loan Facility on July 26, 2027. (5) Effective May 1, 2023, the Company has in place three interest rate swap agreements that convert the variable interest rate on $200.0 million outstanding under the Term Loan Facility to a fixed, combined interest rate of 3.59% (plus a spread, currently 93 basis points and SOFR adjustment of 10 basis points) through the maturity of the Term Loan Facility on July 26, 2027.
Schedule of Maturities of Long-Term Debt	As of September 30, 2024 and December 31, 2023, the Company had accrued interest of $45.6 million and $47.1 million outstanding, respectively. As of September 30, 2024, scheduled maturities of the Company’s outstanding debt obligations were as follows: Year ending December 31, 2024 (remaining three months) $ — 2025 632,312 2026 607,542 2027 900,000 2028 357,708 Thereafter 2,853,203 Total debt maturities 5,350,765 Net unamortized premium 14,980 Net unamortized debt issuance costs (27,064) Total debt obligations, net $ 5,338,681

Fair Value Disclosures (Tables)

Fair Value Disclosures (Tables)	9 Months Ended
Fair Value Disclosures (Tables)	Sep. 30, 2024
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: September 30, 2024 December 31, 2023 Carrying Fair Carrying Fair Notes payable $ 4,843,878 $ 4,783,670 $ 4,422,099 $ 4,155,332 Unsecured Credit Facility 494,803 500,000 511,426 518,500 Total debt obligations, net $ 5,338,681 $ 5,283,670 $ 4,933,525 $ 4,673,832
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following table presents the placement in the fair value hierarchy of assets that are measured and recognized at fair value on a recurring basis: Fair Value Measurements as of September 30, 2024 Balance Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs Significant Unobservable Inputs Assets: Marketable securities (1) $ 21,205 $ 739 $ 20,466 $ — Liabilities: Interest rate derivatives $ (7,953) $ — $ (7,953) $ — Fair Value Measurements as of December 31, 2023 Balance Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs Significant Unobservable Inputs Assets: Marketable securities (1) $ 19,914 $ 656 $ 19,258 $ — Interest rate derivatives 4,364 — 4,364 — Liabilities: Interest rate derivatives $ (6,877) $ — $ (6,877) $ — (1) As of September 30, 2024 and December 31, 2023, marketable securities included $0.2 million of net unrealized gain and $0.2 million of net unrealized loss, respectively. As of September 30, 2024, the contractual maturities of the Company’s marketable securities were 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 nine months ended September 30, 2024 and year ended December 31, 2023, excluding the properties sold prior to September 30, 2024 or December 31, 2023, respectively: Fair Value Measurements as of September 30, 2024 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)(3) $ 6,548 $ — $ — $ 6,548 $ 10,673 Fair Value Measurements as of December 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 (4)(5) $ 14,987 $ — $ — $ 14,987 $ 11,705 (1) Excludes properties disposed of prior to September 30, 2024. (2) The carrying value of Seacoast Shopping Center, which was remeasured to fair value based on an income approach valuation using the direct capitalization method during the nine months ended September 30, 2024, is $5.7 million. The capitalization rate of 8.00% utilized in the analysis was based upon unobservable inputs that the Company believes to be within a reasonable range of current market rates for the property. (3) The carrying value of Southland Shopping Center - multi-tenant outparcel, which was remeasured to fair value based upon offers from third-party buyers during the nine months ended September 30, 2024, is $0.8 million. (4) Excludes properties disposed of prior to December 31, 2023. (5) The carrying value of The Quentin Collection, which was remeasured to fair value based on an income approach valuation using the direct capitalization method during the year ended December 31, 2023, is $15.0 million. The capitalization rate of 8.75% utilized in the analysis was based upon unobservable inputs that the Company believes to be within a reasonable range of current market rates for the property.

Leases (Tables)

Leases (Tables)	9 Months Ended
Leases (Tables)	Sep. 30, 2024
Leases [Abstract]
Schedule of Operating Leases	The following tables present additional information pertaining to the Company’s operating leases: Three Months Ended September 30, Nine Months Ended September 30, Supplemental Statements of Operations Information 2024 2023 2024 2023 Operating lease costs $ 928 $ 1,410 $ 928 $ 4,227 Variable lease costs 66 88 318 350 Total lease costs $ 994 $ 1,498 $ 1,246 $ 4,577 Nine Months Ended September 30, Supplemental Statements of Cash Flows Information 2024 2023 Operating cash outflows from operating leases $ 4,252 $ 4,496 ROU assets obtained in exchange for operating lease liabilities 3,558 90 ROU asset reduction due to dispositions, held for sale, and lease modifications (6,581) (144) Operating Lease Liabilities As of Future minimum operating lease payments: 2024 (remaining three months) $ 1,423 2025 5,647 2026 4,776 2027 2,893 2028 2,052 2029 1,975 Thereafter 29,044 Total future minimum operating lease payments 47,810 Less: imputed interest (15,742) Operating lease liabilities $ 32,068 Supplemental Balance Sheets Information As of As of December 31, 2023 Operating lease liabilities (1)(2) $ 32,068 $ 36,105 ROU assets (1)(3) 29,429 32,350 (1) As of September 30, 2024 and December 31, 2023, the weighted average remaining lease term was 16.7 years and 16.0 years, respectively, and the weighted average discount rate was 4.73% and 4.48%, 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

Stock Based Compensation (Table

Stock Based Compensation (Tables)	9 Months Ended
Stock Based Compensation (Tables)	Sep. 30, 2024
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 Nine Months Ended September 30, 2024 Year Ended, Volatility 23.0% - 28.0% 32.0% - 52.0% Weighted average risk-free interest rate 4.03% - 4.92% 3.79% - 5.18% Weighted average common stock dividend yield 4.4% - 4.7% 4.3% - 4.8%

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
Earnings Per Share (Tables)	Sep. 30, 2024
Earnings Per Share [Abstract]
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 and nine months ended September 30, 2024 and 2023 (dollars in thousands, except per share data): Three Months Nine Months 2024 2023 2024 2023 Computation of Basic Earnings Per Share: Net income $ 96,840 $ 63,736 $ 255,870 $ 232,390 Non-forfeitable dividends on unvested restricted shares (167) (216) (418) (620) Net income attributable to the Company’s common stockholders for basic earnings per share $ 96,673 $ 63,520 $ 255,452 $ 231,770 Weighted average number shares outstanding – basic 302,676 301,007 302,518 300,955 Basic earnings per share attributable to the Company’s common stockholders: Net income per share $ 0.32 $ 0.21 $ 0.84 $ 0.77 Computation of Diluted Earnings Per Share: Net income attributable to the Company’s common stockholders for diluted earnings per share $ 96,673 $ 63,520 $ 255,452 $ 231,770 Weighted average shares outstanding – basic 302,676 301,007 302,518 300,955 Effect of dilutive securities: Equity awards 932 1,504 859 1,492 Weighted average shares outstanding – diluted 303,608 302,511 303,377 302,447 Diluted earnings per share attributable to the Company’s common stockholders: Net income per share $ 0.32 $ 0.21 $ 0.84 $ 0.77

Earnings per Unit (Tables)

Earnings per Unit (Tables)	9 Months Ended
Earnings per Unit (Tables)	Sep. 30, 2024
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 and nine months ended September 30, 2024 and 2023 (dollars in thousands, except per share data): Three Months Nine Months 2024 2023 2024 2023 Computation of Basic Earnings Per Share: Net income $ 96,840 $ 63,736 $ 255,870 $ 232,390 Non-forfeitable dividends on unvested restricted shares (167) (216) (418) (620) Net income attributable to the Company’s common stockholders for basic earnings per share $ 96,673 $ 63,520 $ 255,452 $ 231,770 Weighted average number shares outstanding – basic 302,676 301,007 302,518 300,955 Basic earnings per share attributable to the Company’s common stockholders: Net income per share $ 0.32 $ 0.21 $ 0.84 $ 0.77 Computation of Diluted Earnings Per Share: Net income attributable to the Company’s common stockholders for diluted earnings per share $ 96,673 $ 63,520 $ 255,452 $ 231,770 Weighted average shares outstanding – basic 302,676 301,007 302,518 300,955 Effect of dilutive securities: Equity awards 932 1,504 859 1,492 Weighted average shares outstanding – diluted 303,608 302,511 303,377 302,447 Diluted earnings per share attributable to the Company’s common stockholders: Net income per share $ 0.32 $ 0.21 $ 0.84 $ 0.77
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 and nine months ended September 30, 2024 and 2023 (dollars in thousands, except per unit data): Three Months Nine Months 2024 2023 2024 2023 Computation of Basic Earnings Per Unit: Net income $ 96,840 $ 63,736 $ 255,870 $ 232,390 Non-forfeitable dividends on unvested restricted units (167) (216) (418) (620) Net income attributable to the Operating Partnership’s common units for basic earnings per unit $ 96,673 $ 63,520 $ 255,452 $ 231,770 Weighted average number common units outstanding – basic 302,676 301,007 302,518 300,955 Basic earnings per unit attributable to the Operating Partnership’s common units: Net income per unit $ 0.32 $ 0.21 $ 0.84 $ 0.77 Computation of Diluted Earnings Per Unit: Net income attributable to the Operating Partnership’s common units for diluted earnings per unit $ 96,673 $ 63,520 $ 255,452 $ 231,770 Weighted average common units outstanding – basic 302,676 301,007 302,518 300,955 Effect of dilutive securities: Equity awards 932 1,504 859 1,492 Weighted average common units outstanding – diluted 303,608 302,511 303,377 302,447 Diluted earnings per unit attributable to the Operating Partnership’s common units: Net income per unit $ 0.32 $ 0.21 $ 0.84 $ 0.77

Nature of Business and Financ_3

Nature of Business and Financial Statement Presentation (Details)	Sep. 30, 2024 ft² Property	Sep. 30, 2023 ft²
Nture of Oerations and Financial Statements Presentation [Line Items]
GLA	266,564	0
Shopping Center
Nture of Oerations and Financial Statements Presentation [Line Items]
Number of real estate properties \| Property	360
GLA	63,000,000
Parent Company \| Brixmor OP GP LLC \| BPG Sub
Nture of Oerations and Financial Statements Presentation [Line Items]
Ownership percentage	100%

Acquisition of Real Estate (Pro

Acquisition of Real Estate (Properties Acquired) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($) ft²	Sep. 30, 2023 USD ($) ft²
Asset Acquisition [Line Items]
GLA \| ft²	266,564	0
Aggregate Purchase Price	$ 81,862	$ 1,914
Transaction costs	$ 700	100
West Center
Asset Acquisition [Line Items]
GLA \| ft²	42,594
Aggregate Purchase Price	$ 17,470
The Fresh Market Shoppes
Asset Acquisition [Line Items]
GLA \| ft²	86,398
Aggregate Purchase Price	$ 23,848
Land at King's Market
Asset Acquisition [Line Items]
Aggregate Purchase Price	$ 2,337
Acton Plaza
Asset Acquisition [Line Items]
GLA \| ft²	137,572
Aggregate Purchase Price	$ 38,207
Land at Aurora Plaza
Asset Acquisition [Line Items]
Aggregate Purchase Price		$ 1,914

Acquisition of Real Estate (Pur

Acquisition of Real Estate (Purchase Price) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Assets [Abstract]
Total assets acquired	$ 81,862	$ 1,914
Above market leases
Liabilities [Abstract]
Useful life (in years)	5 years 3 months 18 days
Leases, acquired-in-place
Liabilities [Abstract]
Useful life (in years)	4 years 6 months
Below market leases
Liabilities [Abstract]
Useful life (in years)	14 years 4 months 24 days
Acquired Properties
Assets [Abstract]
Land	$ 23,451	1,914
Buildings	42,039	0
Building and tenant improvements	4,312	0
Above-market leases	169	0
In-place leases	18,009	0
Total assets acquired	87,980	1,914
Liabilities [Abstract]
Below-market lease	6,118	0
Total liabilities	6,118	0
Net assets acquired	$ 81,862	$ 1,914

Dispositions and Assets Held _2

Dispositions and Assets Held for Sale (Narrative) (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024 USD ($) shopping_Center derivative_instrument	Sep. 30, 2023 USD ($) shopping_Center derivative_instrument	Sep. 30, 2024 USD ($) derivative_instrument shopping_Center	Sep. 30, 2023 USD ($) shopping_Center derivative_instrument	Dec. 31, 2023 derivative_instrument
Schedule of Acquisitions and Dispositions [Line Items]
Gain on sale			$ 53,974	$ 59,037
Disposed of by Sale
Schedule of Acquisitions and Dispositions [Line Items]
Number of Shopping centers sold	2	1	5	9
Number of partial shopping centers sold \| shopping_Center	3	1	4	8
Number of land partial shopping centers sold \| shopping_Center	1		2
Impairment of real estate, discontinued operations	$ 300		$ 500	$ 6,100
Number of shopping centers previously sold \| shopping_Center			1
Disposed of by Sale \| Previously Disposed Assets
Schedule of Acquisitions and Dispositions [Line Items]
Gain on sale	100	$ 100	$ 1,900	100
Disposed of by Sale \| Partial Properties
Schedule of Acquisitions and Dispositions [Line Items]
Proceeds from sale of property	72,600	16,600	140,000	161,900
Gain on sale	$ 37,000	$ 6,800	52,100	58,900
Disposed of by Sale \| Non Operating Member \| Previously Disposed Assets
Schedule of Acquisitions and Dispositions [Line Items]
Proceeds from sale of property			$ 1,900	$ 300
Held-for-sale
Schedule of Acquisitions and Dispositions [Line Items]
Number of real estate properties \| derivative_instrument	0		0		0

Real Estate (Details)

Real Estate (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Real Estate (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Real Estate Owned, Disclosure of Detailed Components [Abstract]
Land	$ 1,791,843		$ 1,791,843		$ 1,794,011
Buildings and tenant improvements	8,872,234		8,872,234		8,696,881
Lease intangibles	501,393		501,393		504,995
Real estate, gross	11,165,470		11,165,470		10,995,887
Accumulated depreciation and amortization	(3,372,860)		(3,372,860)		(3,198,980)
Total	7,792,610		7,792,610		7,796,907
Accumulated amortization	440,900		440,900		445,500
Intangible liabilities relating to below-market leases	329,600		329,600		329,800
Accumulated amortization on below-market leases	248,900		248,900		247,200
Below-market lease intangible amortization	2,400	$ 3,300	7,300	$ 9,400
Amortization of intangible assets	3,600	$ 4,500	10,000	$ 12,900
Below-market lease accretion (income), net of above-market lease amortization expense
2024 (remaining three months)	(2,378)		(2,378)
2025	(8,518)		(8,518)
2026	(7,515)		(7,515)
2027	(6,388)		(6,388)
2028	(5,832)		(5,832)
In-place lease amortization expense
2024 (remaining three months)	3,503		3,503
2025	11,745		11,745
2026	8,718		8,718
2027	6,705		6,705
2028	4,696		4,696
Leases, acquired-in-place
Real Estate Owned, Disclosure of Detailed Components [Abstract]
In-place lease value	454,900		454,900		456,800
Above market leases
Real Estate Owned, Disclosure of Detailed Components [Abstract]
Above market leases	$ 46,500		$ 46,500		$ 48,200

Impairments (Details)

Impairments (Details) $ in Thousands	3 Months Ended	9 Months Ended
Impairments (Details) $ in Thousands	Sep. 30, 2024 USD ($) ft²	Sep. 30, 2024 USD ($) ft²	Sep. 30, 2023 USD ($) ft²
Real Estate Properties [Line Items]
GLA \| ft²	149,891	246,227	333,909
Impairment Charge \| $	$ 5,863	$ 11,143	$ 17,836
Southland Shopping Center - multi-tenant outparcel
Real Estate Properties [Line Items]
GLA \| ft²	149,891	149,891
Impairment Charge \| $	$ 5,611	$ 5,611
Land at Springdale
Real Estate Properties [Line Items]
GLA \| ft²	0	0
Impairment Charge \| $	$ 252	$ 252
Seacoast Shopping Center, Seabrook, NH
Real Estate Properties [Line Items]
GLA \| ft²		89,634
Impairment Charge \| $		$ 5,062
Victory Square, Savannah, GA
Real Estate Properties [Line Items]
GLA \| ft²		6,702
Impairment Charge \| $		$ 218
The Quentin Collection
Real Estate Properties [Line Items]
GLA \| ft²			171,530
Impairment Charge \| $			$ 11,705
Broadway Faire - Theater Box
Real Estate Properties [Line Items]
GLA \| ft²			39,983
Impairment Charge \| $			$ 2,102
Elk Grove Town Center
Real Estate Properties [Line Items]
GLA \| ft²			61,609
Impairment Charge \| $			$ 1,796
The Manchester Collection - Crossroads
Real Estate Properties [Line Items]
GLA \| ft²			14,867
Impairment Charge \| $			$ 1,155
Spring Mall
Real Estate Properties [Line Items]
GLA \| ft²			45,920
Impairment Charge \| $			$ 1,078

Financial Instruments - Deriv_3

Financial Instruments - Derivatives and Hedging (Narrative) (Details)	1 Months Ended	3 Months Ended		9 Months Ended
	May 31, 2024 USD ($)	Sep. 30, 2024 USD ($) agreement	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) agreement derivative_instrument	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($) agreement	Nov. 30, 2023 USD ($) agreement	Apr. 30, 2023 USD ($) derivative_instrument
Debt Instrument [Line Items]
Number of Instruments \| agreement		3		3		10
Amount expected to be reclassified from accumulated other comprehensive income (loss) in the next twelve months				$ 200,000
Senior Notes Due 2035
Debt Instrument [Line Items]
Notional amount	$ 150,000,000
Proceeds from issuance of senior long-term debt	7,300,000
Gain (loss) on derivative	5,800,000
Senior Notes Due 2034
Debt Instrument [Line Items]
Gain (loss) on derivative	$ 1,500,000
Interest Rate Swap
Debt Instrument [Line Items]
Number of Instruments		4		4			4	3
Notional amount		$ 500,000,000		$ 500,000,000		$ 950,000,000	$ 300,000,000	$ 200,000,000
Interest Rate Swap \| Designated as Hedging Instrument
Debt Instrument [Line Items]
Number of instruments entered \| derivative_instrument				0
Gain (loss) on derivative		$ 0	$ 0	$ 0	$ 0

Financial Instruments - Deriv_4

Financial Instruments - Derivatives and Hedging (Statement of Financial Position, Fair Value) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2024 USD ($) agreement	Dec. 31, 2023 USD ($) agreement	Nov. 30, 2023 USD ($) agreement	Apr. 30, 2023 USD ($) derivative_instrument
Derivative [Line Items]
Number of instruments \| agreement		3	10
Interest Rate Swap
Derivative [Line Items]
Notional amount		$ 500,000	$ 950,000	$ 300,000	$ 200,000
Assets			4,364
Liabilities			$ (6,877)
Stated spread rate	10%
Number of instruments		4		4	3
Derivative, variable interest rate				4.08%	3.59%
Interest Rate Swap \| SOFR 2.5875%
Derivative [Line Items]
Fixed Rate			2.5875%
Notional amount			$ 50,000
Assets			710
Liabilities			$ 0
Interest Rate Swap \| SOFR 2.5960%
Derivative [Line Items]
Fixed Rate			2.596%
Notional amount			$ 50,000
Assets			707
Liabilities			$ 0
Interest Rate Swap \| SOFR 2.5860%
Derivative [Line Items]
Fixed Rate			2.586%
Notional amount			$ 100,000
Assets			1,421
Liabilities			$ 0
Interest Rate Swap \| SOFR 2.5850%
Derivative [Line Items]
Fixed Rate			2.585%
Notional amount			$ 100,000
Assets			1,421
Liabilities			$ 0
Interest Rate Swap \| SOFR 3.5890%
Derivative [Line Items]
Fixed Rate		3.589%	3.589%
Notional amount		$ 100,000	$ 100,000
Assets		0	59
Liabilities		$ (804)	$ 0
Interest Rate Swap \| SOFR 3.5950%
Derivative [Line Items]
Fixed Rate		3.595%	3.595%
Notional amount		$ 75,000	$ 75,000
Assets		0	34
Liabilities		$ (614)	$ 0
Interest Rate Swap \| SOFR 3.5930%
Derivative [Line Items]
Fixed Rate		3.593%	3.593%
Notional amount		$ 25,000	$ 25,000
Assets		0	12
Liabilities		$ (204)	$ 0
Interest Rate Swap \| SOFR 4.0767%, Instrument 1
Derivative [Line Items]
Fixed Rate		4.0767%	4.0767%
Notional amount		$ 100,000	$ 100,000
Assets		0	0
Liabilities		$ (2,110)	$ (2,073)
Interest Rate Swap \| SOFR 4.0770%, Instrument 1
Derivative [Line Items]
Fixed Rate		4.077%	4.077%
Notional amount		$ 100,000	$ 100,000
Assets		0	0
Liabilities		$ (2,111)	$ (2,077)
Interest Rate Swap \| SOFR 4.0767%, Instrument 2
Derivative [Line Items]
Fixed Rate		4.0767%	4.0767%
Notional amount		$ 50,000	$ 50,000
Assets		0	0
Liabilities		$ (1,055)	$ (1,038)
Interest Rate Swap \| SOFR 4.0770% Instrument 2
Derivative [Line Items]
Fixed Rate		4.077%	4.077%
Notional amount		$ 50,000	$ 50,000
Assets		0	0
Liabilities		(1,055)	$ (1,039)
Interest Rate Swap \| SOFR 3.4400%, Instrument 1
Derivative [Line Items]
Fixed Rate			3.44%
Notional amount			$ 100,000
Assets			0
Liabilities			$ (437)
Interest Rate Swap \| SOFR 3.4370%
Derivative [Line Items]
Fixed Rate			3.437%
Notional amount			$ 25,000
Assets			0
Liabilities			$ (104)
Interest Rate Swap \| SOFR 3.4400%, Instrument 2
Derivative [Line Items]
Fixed Rate			3.44%
Notional amount			$ 25,000
Assets			0
Liabilities			(109)
Interest Rate Swaption
Derivative [Line Items]
Notional amount			$ 150,000
Number of instruments \| agreement			3
Long-term debt			$ 150,000
Interest rate derivatives \| Fair Value, Measurements, Recurring
Derivative [Line Items]
Assets			4,364
Liabilities		7,953	6,877
Interest rate derivatives \| Significant Other Observable Inputs (Level 2) \| Fair Value, Measurements, Recurring
Derivative [Line Items]
Assets		0	4,364
Liabilities		$ (7,953)	$ 6,877

Financial Instruments - Deriv_5

Financial Instruments - Derivatives and Hedging (Cash Flow Hedging Relationship) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Change in unrealized gain (loss) on interest rate swaps	$ (11,161)	$ 3,932	$ 10,062	$ 9,906
Accretion of interest rate swaps to interest expense	(2,323)	(2,970)	(8,513)	(6,887)
Change in unrealized gain (loss) on interest rate swaps, net	$ (13,484)	$ 962	$ 1,549	$ 3,019

Debt Obligations (Schedule of D

Debt Obligations (Schedule of Debt) (Details) $ in Thousands			1 Months Ended	9 Months Ended
	Jul. 26, 2024 USD ($) derivative_instrument	May 01, 2023 USD ($) derivative_instrument	May 31, 2023	Sep. 30, 2024 USD ($) agreement	Sep. 30, 2023	Dec. 31, 2023 USD ($) agreement	Nov. 30, 2023 agreement	Apr. 30, 2023 derivative_instrument	Apr. 28, 2022 USD ($)
Debt Instrument [Line Items]
Long-term debt				$ 5,350,765
Net unamortized debt issuance costs				(27,064)
Total debt obligations				$ 5,338,681		$ 4,933,525
Number of Instruments \| agreement				3		10
Interest Rate Swap
Debt Instrument [Line Items]
Stated spread rate					10%
Number of Instruments				4			4	3
Revolving Credit Facility and Term Loan Facility
Debt Instrument [Line Items]
Stated spread rate				0.02%
Unsecured Debt
Debt Instrument [Line Items]
Long-term debt				$ 4,850,765		$ 4,418,805
Net unamortized premium				14,980		20,974
Net unamortized debt issuance costs				(21,867)		(17,680)
Long-term debt				$ 4,843,878		4,422,099
Weighted average fixed interest rate				4.01%
Unsecured Debt \| Unsecured Credit Facility
Debt Instrument [Line Items]
Long-term debt				$ 0		18,500
Stated percentage				5.89%
Unsecured Debt \| Term Loan \| Unsecured $500M Term Loan
Debt Instrument [Line Items]
Long-term debt				$ 500,000		500,000
Stated percentage				6.23%
Term loan face amount									$ 500,000
Unsecured Debt \| Term Loan \| Unsecured $300 Million Term Loan
Debt Instrument [Line Items]
Term loan face amount	$ 300,000
Effective percentage	4.08%
Unsecured Debt \| Term Loan \| Unsecured $300 Million Term Loan \| Through July 26, 2024
Debt Instrument [Line Items]
Stated spread rate	0.93%	0.93%
Unsecured Debt \| Term Loan \| Unsecured $300 Million Term Loan \| Through July 26, 2024 \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Stated spread rate	0.10%
Unsecured Debt \| Term Loan \| Unsecured $300 Million Term Loan \| Interest Rate Swap
Debt Instrument [Line Items]
Number of Instruments \| derivative_instrument	4
Unsecured Debt \| Term Loan \| Unsecured $200M Term Loan \| Interest Rate Swap
Debt Instrument [Line Items]
Stated spread rate			0.10%
Number of Instruments \| derivative_instrument		3
Term loan face amount		$ 200,000
Effective percentage		3.59%
Unsecured Debt \| Unsecured Credit Facility and Term Loan
Debt Instrument [Line Items]
Net unamortized debt issuance costs				$ (5,197)		(7,074)
Long-term debt				$ 494,803		$ 511,426
Unsecured Debt \| Minimum
Debt Instrument [Line Items]
Stated percentage				2.25%
Unsecured Debt \| Maximum
Debt Instrument [Line Items]
Stated percentage				7.97%

Debt Obligations (Narrative) (D

Debt Obligations (Narrative) (Details) - USD ($) $ in Thousands			3 Months Ended		9 Months Ended
	May 28, 2024	Jan. 12, 2024	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Apr. 28, 2022
Debt Instrument [Line Items]
Gain on extinguishment of debt, net			$ 273	$ 6	$ 554	$ 4,356
Interest payable			45,600		45,600		$ 47,100
Long-term debt			5,350,765		5,350,765
Unsecured Debt
Debt Instrument [Line Items]
Long-term debt			4,843,878		4,843,878		4,422,099
Long-term debt			4,850,765		4,850,765		4,418,805
Senior Notes Due 2034
Debt Instrument [Line Items]
Repayments of debt					$ 300,400
Stated spread rate					3.65%
Senior Notes Due 2025
Debt Instrument [Line Items]
Term loan face amount			67,700		$ 67,700
Stated spread rate					3.85%
Long-term debt			632,300		$ 632,300
Long-term debt			$ 632,300		$ 632,300
Senior Notes Due 2034
Debt Instrument [Line Items]
Term loan face amount		$ 400,000
Stated spread rate		99.816%
Stated percentage		5.50%
Senior Notes Due 2035
Debt Instrument [Line Items]
Term loan face amount	$ 400,000
Stated spread rate	99.222%
Stated percentage	5.75%
Unsecured Credit Facility \| Unsecured Debt
Debt Instrument [Line Items]
Stated percentage			5.89%		5.89%
Long-term debt			$ 0		$ 0		18,500
Term Loan \| Unsecured $500M Term Loan \| Unsecured Debt
Debt Instrument [Line Items]
Term loan face amount								$ 500,000
Stated percentage			6.23%		6.23%
Long-term debt			$ 500,000		$ 500,000		$ 500,000
Brixmor Operating Partnership LP
Debt Instrument [Line Items]
Gain on extinguishment of debt, net			$ 273	$ 6	554	$ 4,356
Brixmor Operating Partnership LP \| Unsecured Credit Facility \| Senior Notes Due 2034 \| Unsecured Debt
Debt Instrument [Line Items]
Term loan face amount								$ 1,250,000
Repayments of debt					$ 18,500

Debt Obligations (Maturities) (

Debt Obligations (Maturities) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Future expected/scheduled maturities of outstanding debt and capital lease
2024 (remaining three months)	$ 0
2025	632,312
2026	607,542
2027	900,000
2028	357,708
Thereafter	2,853,203
Total debt maturities	5,350,765
Net unamortized premium	14,980
Net unamortized debt issuance costs	(27,064)
Total debt obligations, net	$ 5,338,681	$ 4,933,525

Fair Value Disclosures (Debt Ob

Fair Value Disclosures (Debt Obligations) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Estimated fair value of the Company's debt obligations compared to their carrying amounts
Total debt obligations, net	$ 5,338,681	$ 4,933,525
Carrying Amount
Estimated fair value of the Company's debt obligations compared to their carrying amounts
Notes payable	4,843,878	4,422,099
Unsecured Credit Facility	494,803	511,426
Total debt obligations, net	5,338,681	4,933,525
Fair Value
Estimated fair value of the Company's debt obligations compared to their carrying amounts
Notes payable	4,783,670	4,155,332
Unsecured Credit Facility	500,000	518,500
Total debt obligations	$ 5,283,670	$ 4,673,832

Fair Value Disclosures (Measure

Fair Value Disclosures (Measurements) (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, unrealized losses	$ 200	$ 200
Fair Value, Measurements, Recurring \| Marketable Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	21,205	19,914
Fair Value, Measurements, Recurring \| Interest rate derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets		4,364
Liabilities	(7,953)	(6,877)
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]
Assets	739	656
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]
Assets		0
Liabilities	0	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]
Assets	20,466	19,258
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]
Assets	0	4,364
Liabilities	7,953	(6,877)
Fair Value, Measurements, Recurring \| Significant Unobservable Inputs (Level 3) \| Marketable Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	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]
Assets		0
Liabilities	$ 0	$ 0

Fair Value Disclosures (Remeasu

Fair Value Disclosures (Remeasured to Fair Value Impairment) (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of real estate assets	$ 5,863	$ 11,143	$ 17,836
Real estate, fair value, capitalization rate		8%		8.75%
The Manchester Collection
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate investment, fair value	5,700	$ 5,700		$ 15,000
Southland Shopping Center - multi-tenant outparcel
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate investment, fair value	800	800
Real estate, net \| Fair Value, Measurements, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	6,548	6,548		14,987
Impairment of real estate assets		10,673		11,705
Real estate, net \| Fair Value, Measurements, Nonrecurring \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0		0
Real estate, net \| Fair Value, Measurements, Nonrecurring \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0		0
Real estate, net \| Fair Value, Measurements, Nonrecurring \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	$ 6,548	$ 6,548		$ 14,987

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Revenue Recognition (Details) - USD ($) $ in Millions	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Financing Receivable, Troubled Debt Restructuring [Line Items]
Revenue performance obligation term (less than)			1 year
Revenue performance obligation term (more than)			25 years
Rental income based on percentage rents	$ 1.3	$ 1.6	$ 7.9	$ 7.3
Minimum
Financing Receivable, Troubled Debt Restructuring [Line Items]
Operating lease, renewal terms (or more)	1 month		1 month
Maximum
Financing Receivable, Troubled Debt Restructuring [Line Items]
Operating lease, renewal terms (or more)	5 years		5 years

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Leases (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Lease, Cost [Abstract]
Operating lease costs	$ 928	$ 1,410	$ 928	$ 4,227
Variable lease costs	66	88	318	350
Total lease costs	994	$ 1,498	1,246	4,577
Operating cash outflows from operating leases			4,252	4,496
ROU assets obtained in exchange for operating lease liabilities			3,558	90
ROU asset reduction due to dispositions, held for sale, and lease modifications			(6,581)	$ (144)
Operating Lease Liabilities
2024 (remaining three months)	1,423		1,423
2025	5,647		5,647
2026	4,776		4,776
2027	2,893		2,893
2028	2,052		2,052
2029	1,975		1,975
Thereafter	29,044		29,044
Total future minimum operating lease payments	47,810		47,810
Less: imputed interest	$ (15,742)		$ (15,742)
Operating Lease, Liability, Statement of Financial Position [Extensible List]	Other Liabilities	Other Liabilities	Other Liabilities	Other Liabilities
Operating lease liabilities	$ 32,068		$ 32,068		$ 36,105
ROU asset	$ 29,429		$ 29,429		$ 32,350
Weighted average remaining lease term	16 years 8 months 12 days		16 years 8 months 12 days		16 years
Weighted average discount rate	4.73%		4.73%		4.48%
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other assets		Other assets		Other assets
Lessee, Lease, Description [Line Items]
Additional term of contract			100 years
Minimum
Lessee, Lease, Description [Line Items]
Term of contract	1 year		1 year
Maximum
Lessee, Lease, Description [Line Items]
Term of contract	50 years		50 years

Equity and Capital (Details)

Equity and Capital (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Nov. 30, 2022
Schedule of Shareholders' Equity [Line Items]
Available repurchase amount	$ 400						$ 400
Dividends, per common share (usd per share)	$ 0.2725	$ 0.2725	$ 0.2725	$ 0.2600	$ 0.2600	$ 0.2600	$ 0.8175	$ 0.7800
Accounts Payable and Accrued Liabilities
Schedule of Shareholders' Equity [Line Items]
Dividends payable	$ 86						$ 86		$ 85.7
ATM Program
Schedule of Shareholders' Equity [Line Items]
Sale of stock, number of shares issued in transaction							700,000	0
Average price per share (USD per share)	$ 27.92						$ 27.92
Sale of stock, consideration received on transaction							$ 20
Incurred commissions and fees							0.7
Common stock, capital shares reserved for future issuance, amount	$ 380						$ 380
Common Stock
Schedule of Shareholders' Equity [Line Items]
At-the-market equity offering program										$ 400
Stock repurchased during period (in shares)							0	0
Common Stock \| RSUs
Schedule of Shareholders' Equity [Line Items]
Stock repurchased during period (in shares)							600,000	500,000
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		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized	10,000,000		10,000,000
Grants in period (in shares)			800,000		700,000
Equity based compensation, net	$ 5.4	$ 6.1	$ 15.1	$ 15.7
Amount capitalized	(0.3)	$ (0.4)	(1.3)	$ (1.1)
Compensation cost not yet recognized	$ 18.8		$ 18.8
Weighted average remaining contractual term			2 years
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service period			1 year
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service period			5 years

Stock Based Compensation (Assum

Stock Based Compensation (Assumptions) (Details)	9 Months Ended	12 Months Ended
Stock Based Compensation (Assumptions) (Details)	Sep. 30, 2024	Dec. 31, 2023
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility rate	23%	32%
Risk free interest rate	4.03%	3.79%
Expected dividend rate	4.40%	4.30%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility rate	28%	52%
Risk free interest rate	4.92%	5.18%
Expected dividend rate	4.70%	4.80%

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share, Basic [Abstract]
Net income	$ 96,840	$ 63,736	$ 255,870	$ 232,390
Non-forfeitable dividends on unvested restricted shares	(167)	(216)	(418)	(620)
Net income attributable to the Company’s common stockholders for basic earnings per share	$ 96,673	$ 63,520	$ 255,452	$ 231,770
Weighted average number shares outstanding – basic (in shares)	302,676	301,007	302,518	300,955
Net income per share (usd per share)	$ 0.32	$ 0.21	$ 0.84	$ 0.77
Computation of Diluted Earnings Per Share:
Net income attributable to the Company’s common stockholders for diluted earnings per share	$ 96,673	$ 63,520	$ 255,452	$ 231,770
Equity awards (in shares)	932	1,504	859	1,492
Weighted average shares outstanding - diluted (in shares)	303,608	302,511	303,377	302,447
Net income per share (usd per share)	$ 0.32	$ 0.21	$ 0.84	$ 0.77

Earnings per Unit (Details)

Earnings per Unit (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Schedule of Earnings per Share [Line Items]
Net income	$ 96,840	$ 63,736	$ 255,870	$ 232,390
Non-forfeitable dividends on unvested restricted shares	(167)	(216)	(418)	(620)
Net income attributable to the Company’s common stockholders for basic earnings per share	$ 96,673	$ 63,520	$ 255,452	$ 231,770
Weighted average number shares outstanding – basic (in shares)	302,676	301,007	302,518	300,955
Net income per unit (usd per share)	$ 0.32	$ 0.21	$ 0.84	$ 0.77
Net income attributable to the Company’s common stockholders for diluted earnings per share	$ 96,673	$ 63,520	$ 255,452	$ 231,770
Equity awards (in shares)	932	1,504	859	1,492
Weighted average shares outstanding - diluted (in shares)	303,608	302,511	303,377	302,447
Net income per unit (usd per share)	$ 0.32	$ 0.21	$ 0.84	$ 0.77
Brixmor Operating Partnership LP
Schedule of Earnings per Share [Line Items]
Net income	$ 96,840	$ 63,736	$ 255,870	$ 232,390
Non-forfeitable dividends on unvested restricted shares	(167)	(216)	(418)	(620)
Net income attributable to the Company’s common stockholders for basic earnings per share	$ 96,673	$ 63,520	$ 255,452	$ 231,770
Weighted average number shares outstanding – basic (in shares)	302,676	301,007	302,518	300,955
Net income per unit (usd per share)	$ 0.32	$ 0.21	$ 0.84	$ 0.77
Net income attributable to the Company’s common stockholders for diluted earnings per share	$ 96,673	$ 63,520	$ 255,452	$ 231,770
Equity awards (in shares)	932	1,504	859	1,492
Weighted average shares outstanding - diluted (in shares)	303,608	302,511	303,377	302,447
Net income per unit (usd per share)	$ 0.32	$ 0.21	$ 0.84	$ 0.77

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($)	3 Months Ended		9 Months Ended
Commitments and Contingencies (Details) - USD ($)	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Environmental Matters
Loss Contingencies [Line Items]
Litigation settlement	$ 0	$ 0	$ 0	$ 0

Related-Party Transactions (Det

Related-Party Transactions (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Related Party Transaction [Line Items]
Receivables, net	$ 260,571		$ 260,571		$ 278,775
Related Party
Related Party Transaction [Line Items]
Receivables, net	0		0		$ 0
Related party transactions	$ 0	$ 0	$ 0	$ 0