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PRESS RELEASE BRIXMOR PROPERTY GROUP & EVERVIEW PARTNERS TO ACQUIRE SLATE GROCERY REIT FOR $ 2.34 BILLION Company Release - 9/28/2026 -Brixmor to Acquire 23 Grocery - Anchored Shopping Centers in Existing Markets for $ 636 Million - - Capital Efficient Strategic Joint Venture with Everview Partners to Acquire an Additional 92 Centers for $ 1.71 Billion - -Provides Immediate Earnings Accretion to Brixmor and Leverages Brixmor's Best - in - Class Operating Platform at Scale - NEW YORK , Sept. 28 , 2026 / PRNewswire / -- Brixmor Property Group Inc. ( NYSE : BRX ) ( " Brixmor " ) and Everview Partners ( " Everview " ) announced today they have entered into definitive agreements to acquire Slate Grocery REIT in a transaction valued at $ 2.34 billion . Under the terms of the transaction and joint venture agreements , Brixmor will effectively acquire a portfolio of 23 grocery - anchored shopping centers ( the " Brixmor Portfolio " ) aggregating approximately three million square feet for $ 636 million , and a newly formed institutional joint venture between Brixmor and affiliates of Everview Partners will acquire the remaining 92 assets ( the " Joint Venture Portfolio " ) for $ 1.71 billion . Additionally , a wholly owned subsidiary of the Abu Dhabi Investment Authority ( ADIA ) will act as a strategic investor alongside Everview in the transaction . The 23 - asset portfolio Brixmor is acquiring is approximately 96 % leased and located entirely within Brixmor's existing operating footprint , predominantly across Florida , Georgia , and the Carolinas . " This immediately accretive transaction is directly aligned with our growth strategy , adding 23 grocery - anchored centers in markets we know well , with long - standing grocer relationships we plan to grow , while further leveraging our operating platform in a capital efficient joint venture with Everview . Across both the wholly owned and joint venture assets , we see meaningful embedded value through below - market rents and a robust pipeline of remerchandising , redevelopment , and outparcel opportunities . We believe our extensive retailer relationships and proven execution capabilities will position us to unlock that value and generate meaningful cash flow growth over time , " commented Brian T. Finnegan , Brixmor's Chief Executive Officer and President . " We are pleased to partner with Everview and look forward to leveraging our combined strengths to capitalize on the significant opportunities across this portfolio . We'd also like to thank the Special Committee of Slate Grocery REIT for their diligence throughout this process , which we believe resulted in a strong outcome for all parties involved . " Billy Rahm , Everview's Founder and Chief Executive Officer , stated , " This transaction reflects our conviction in grocery - anchored , open - air retail , which we expect will continue to benefit from limited new supply and durable tenant demand . We believe the portfolio is a high - quality collection of centers in attractive markets with meaningful embedded upside . We are excited to be acquiring it alongside Brixmor , whose strong operating platform , retailer relationships , and redevelopment capability make them a great partner . " Under the terms of the applicable transaction and joint venture agreements : • Brixmor will acquire 23 grocery - anchored shopping centers ( representing a 100 % interest in 22 centers and a 50 % interest in one center ) aggregating approximately three million square feet and located entirely within Brixmor's existing operating footprint , predominantly across Florida , Georgia , and the Carolinas . • Brixmor will hold a 20 % common equity interest and Everview will hold an 80 % common equity interest in 92 shopping centers aggregating approximately 12 million square feet . Brixmor will also serve as the asset manager , property manager , and leasing representative for the Joint Venture Portfolio . Brixmor will also make a preferred equity investment of approximately $ 174 million in the joint venture , which will generate a 9 % dividend . • The transaction , which is not subject to any financing conditions , has been approved by Brixmor's Board of Directors and Slate's Board of Trustees and is expected to close in the first quarter of 2027 , subject to the receipt of approval of Slate unitholders and satisfaction of other customary closing conditions . Concurrent with the issuance of this release , Brixmor filed a Form 8 - K with the SEC describing the relevant agreements in more detail . The transaction strengthens Brixmor's strategic position and long - term growth prospects by : • Adding highly complementary assets to Brixmor's existing portfolio : The Brixmor Portfolio is 100 % grocery - anchored , including by Publix , Harris Teeter , and Kroger , increasing Brixmor's exposure to leading operators , and is located entirely within Brixmor's existing footprint , strengthening its position in high - conviction markets . • Enhancing Brixmor's visible multi - year growth profile : The portfolios have meaningful occupancy and mark - to - market opportunities , with in - place rents averaging 32 percent less than Brixmor's current portfolio . In addition , Brixmor has identified approximately $ 100 million of redevelopment and outparcel development opportunities within the Brixmor Portfolio , including several potential Publix redevelopment projects , consistent with one of Brixmor's core value - creation capabilities . The portfolios are projected to generate long- term NOI growth consistent with Brixmor's stated long - term growth expectation of 4 % . • Growing and leveraging Brixmor's operating platform at scale : The transaction leverages Brixmor's national infrastructure , operating expertise , and retailer relationships to unlock value through leasing and operational initiatives . In addition , the joint venture is expected to generate attractive recurring fee income , including asset management , property management , and leasing fees . The joint venture will also create a potential pipeline of future acquisition opportunities for Brixmor . • Generating immediate earnings accretion with balance sheet discipline : The transaction is expected to be immediately accretive to Brixmor's Nareit FFO per share . The capital efficient structure is consistent with Brixmor's commitment to maintaining a strong investment - grade balance sheet , while preserving capacity for future investment opportunities . RBC Capital Markets , LLC is acting as lead financial advisor and Wells Fargo Securities is acting as a financial advisor to Brixmor and to the joint venture entity formed by Brixmor and Everview for purposes of the transaction . Cushman & Wakefield is acting as real estate advisor , and Hogan Lovells Cadwalader US LLP is acting as legal counsel to Brixmor . Simpson Thacher & Bartlett LLP is acting as legal advisor to Everview . Davies Ward Phillips & Vineberg LLP is acting as Canadian counsel for Brixmor and Everview . Royal Bank of Canada has provided Brixmor with a bridge commitment to fully fund Brixmor's required capital for the transaction for both the Brixmor Portfolio and Joint Venture Portfolio . Wells Fargo Bank , N.A. , as Administrative Agent , and Royal Bank of Canada have provided a debt commitment to the joint venture . Wells Fargo Securities and Royal Bank of Canada will serve as Joint Bookrunners for the joint venture financing . CONFERENCE CALL AND PRESENTATION INFORMATION Brixmor will host a teleconference today , September 28 , 2026 at 8:30 AM ET to discuss the transaction . To participate , please dial 877.704.4453 ( domestic ) or 201.389.0920 ( international ) within 15 minutes of the scheduled start of the call . The teleconference can also be accessed via a live webcast at https://www.brixmor.com in the Investors section . A replay of the teleconference will be available through October 12 , 2026 by dialing 844.512.2921 ( domestic ) or 412.317.6671 ( international ) ( Passcode : 13762791 ) or via the web through September 28 , 2027 at https://www.brixmor.com in the Investors section . A Presentation with additional details will be posted at https://www.brixmor.com in the Investors section . ABOUT BRIXMOR PROPERTY GROUP Brixmor ( NYSE : BRX ) owns and operates a high - quality , national portfolio of open - air shopping centers . Brixmor's 346 retail centers comprise approximately 63 million square feet of prime retail space in established trade areas . Brixmor's properties reflect its vision " to be the center of the communities we serve " and are home to a diverse mix of thriving national , regional , and local retailers . Brixmor is a valued partner to a broad range of retailers , including The TJX Companies , The Kroger Co. , Publix Super Markets and Ross Stores . Brixmor announces material information to its investors in SEC filings and press releases and on public conference calls , webcasts and the " Investors " page of its website at https://www.brixmor.com . Brixmor also uses social media to communicate with its investors and the public , and the information Brixmor posts on social media may be deemed material information . Therefore , Brixmor encourages investors and others interested in Brixmor to review the information that it posts on its website and on its social media channels . ABOUT EVERVIEW PARTNERS Everview Partners , L.P. is a private investment management firm founded in 2024 on the belief that applying both private equity and credit expertise to real asset investments could yield enduring performance across market cycles . Everview invests across the capital structure in real asset companies and properties and seeks to partner with talented business leaders to drive sustainable growth and profitability . For more information , please visit www.everviewcap.com . ABOUT ADIA Established in 1976 , the Abu Dhabi Investment Authority ( ADIA ) is a globally - diversified investment institution that prudently invests funds on behalf of the Government of Abu Dhabi through a strategy focused on long - term value creation . For more information : https://www.adia.ae .