Brixmor Q4 2019 Earnings Report
Key Takeaways
Brixmor Property Group reported strong leasing, rent growth, and reinvestment returns for Q4 2019. The company executed 2.7 million square feet of total leasing volume, grew total leased occupancy to 92.4%, and generated same property NOI growth of 5.1%.
Executed 2.7 million square feet of total leasing volume, including options, with rent spreads on comparable space of 10.9%.
Grew total leased occupancy to 92.4% and anchor leased occupancy to 95.2%.
Generated same property NOI growth of 5.1%, driven by a 390 basis point contribution from base rent.
Stabilized $47.0 million of reinvestment projects at an average incremental NOI yield of 10%.
Brixmor
Brixmor
Forward Guidance
The Company expects 2020 NAREIT FFO per diluted share of $1.90 - 1.97 and same property NOI growth of 3.00 - 3.50%.