October 31, 2014 5:34 PM ET

Real Estate Investment Trusts (REITs)

Company Overview of Brixmor LLC

Company Overview

Brixmor LLC, a real estate investment trust, engages in the ownership, management, and development of community and neighborhood shopping centers in the United States. As of December 31, 2006, the trust owned interests in 467 properties in 38 states, including 289 wholly-owned properties and 177 properties held through unconsolidated joint ventures. These properties include 453 community and neighborhood shopping centers with approximately 67.6 million square feet of gross leasable area (GLA), and 14 related retail assets with approximately 0.7 million square feet of GLA. As a REIT, the trust is not subject to federal income tax to the extent that it distributes at least 90% of its taxable i...

420 Lexington Avenue

7th Floor

New York, NY 10170

United States

Founded in 1972

Phone:

212-869-3000

Fax:

212-869-3989

Key Executives for Brixmor LLC

Chief Executive Officer and President
Age: 45
Chief Financial Officer and Executive Vice President
Age: 46
Executive Vice President
Age: 54
Executive Vice President of Acquisitions & Dispositions
Age: 56
Chief Accounting Officer and Vice President
Age: 52
Compensation as of Fiscal Year 2014.

Brixmor LLC Key Developments

Brixmor LLC Receives Requisite Consents from Holders

On October 15, 2014, Brixmor Property Group Inc. announced that Brixmor LLC had received the requisite consents from holders of the company's outstanding 7.97% Notes due 2026, 7.65% Notes due 2026, 7.68% Notes due 2026, 6.90% Notes due 2028 (both series) and 7.50% Notes due 2029, to adopt proposed amendments to the indentures governing the Notes pursuant to the company's previously announced consent solicitations, which were made in conjunction with the company's previously announced tender offers for such Notes. The Offers and Consent Solicitations were made in accordance with the terms and subject to the conditions set out in the Offer to Purchase and Consent Solicitation Statement, dated September 18, 2014, and in the related Letter of Transmittal and Consent. On October 16, 2014, following the receipt of the requisite consents with respect to the Notes, the company and U.S. Bank Trust National Association, as trustee, executed supplemental indentures with respect to the Indentures containing the amendments. The amendments provide for the elimination of substantially all of the restrictive covenants and certain of the events of default contained in such Indenture relating to the Notes issued thereunder.

Brixmor LLC Announces Expiration of Tender Offers and Consent Solicitations for Certain of Outstanding Debt

Brixmor Property Group Inc. announced tender offers by Brixmor LLC, an indirect subsidiary of Brixmor Property Group Inc., to purchase for cash any and all of the Company's outstanding notes listed in the table below on the terms and subject to the conditions set forth in the Offer to Purchase and Consent Solicitation Statement, dated September 18, 2014, and in the related Letter of Transmittal and Consent. In conjunction with the Offers, the Company solicited consents with respect to proposed amendments to the indentures pursuant to which the Notes were issued and to the Notes themselves. As previously announced, the requisite consents to approve the proposed amendments were obtained and the Company and the Trustee have executed and delivered supplemental indentures containing the proposed amendments, which amendments will become operative upon the payment for Notes purchased pursuant to the Offers.

Brixmor Llc Commences Tender Offers to Purchase for Cash Any and All of Outstanding Notes

Brixmor Property Group Inc. announced that Brixmor LLC has commenced tender offers to purchase for cash any and all of its outstanding notes listed in the table below on the terms and subject to the conditions set fourth in the Offer to Purchase and Consent Solicitation Statement, dated September 18, 2014, and in the related Letter of Transmittal and Consent. In conjunction with the Offers, the company is soliciting, consents with respect to proposed amendments to the indentures pursuant to which the notes were issued and to the notes themselves. The Proposed Amendments would, among other things, eliminate substantially all of the restrictive covenants and eliminate certain events of default contained in the Indentures and the notes. The total consideration for each $1,000 principal amount of Notes tendered pursuant to the Offers therefor will be the amount reflected in the table below. The total consideration includes a payment of $30 per $1,000 principal amount of notes payable in respect of all notes validly tendered at or before to the Expiration Time and not validly withdrawn at or before the Withdrawal Deadline.

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