Brixmor Property (BRX) 10-Q 3 May 21 2021 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2021	Apr. 01, 2021
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2021
Document Transition Report	false
Entity File Number	001-36160
Entity Registrant Name	Brixmor Property Group Inc.
Entity Central Index Key	0001581068
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	45-2433192
Entity Address, Address Line One	450 Lexington Avenue
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10017
City Area Code	212
Local Phone Number	869-3000
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	BRX
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		296,956,394
Brixmor Operating Partnership LP [Member]
Entity Information [Line Items]
Document Type	10-Q
Document Period End Date	Mar. 31, 2021
Entity File Number	333-201464-01
Entity Registrant Name	Brixmor Operating Partnership LP
Entity Central Index Key	0001630031
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	80-0831163
No Trading Symbol Flag	true
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Real estate
Land	$ 1,737,338	$ 1,740,263
Buildings and improvements	8,443,510	8,423,298
Real estate, gross	10,180,848	10,163,561
Accumulated depreciation and amortization	(2,706,805)	(2,659,448)
Real estate, net	7,474,043	7,504,113
Cash and cash equivalents	371,402	368,675
Restricted cash	1,282	1,412
Marketable securities	18,737	19,548
Receivables, net	231,461	240,323
Deferred charges and prepaid expenses, net	136,251	139,260
Real estate assets held for sale	12,389	18,014
Other assets	49,521	50,802
Total assets	8,295,086	8,342,147
Liabilities
Debt obligations, net	5,165,861	5,167,330
Accounts payable, accrued expenses and other liabilities	458,022	494,116
Total liabilities	5,623,883	5,661,446
Commitments and contingencies (Note 15)	0	0
Equity
Common stock	2,969	2,965
Additional paid-in capital	3,211,665	3,213,990
Accumulated other comprehensive loss	(22,486)	(28,058)
Distributions in excess of net income	(520,945)	(508,196)
Total equity	2,671,203	2,680,701
Total liabilities and equity	8,295,086	8,342,147
Brixmor Operating Partnership LP
Real estate
Land	1,737,338	1,740,263
Buildings and improvements	8,443,510	8,423,298
Real estate, gross	10,180,848	10,163,561
Accumulated depreciation and amortization	(2,706,805)	(2,659,448)
Real estate, net	7,474,043	7,504,113
Cash and cash equivalents	361,388	358,661
Restricted cash	1,282	1,412
Marketable securities	18,737	19,548
Receivables, net	231,461	240,323
Deferred charges and prepaid expenses, net	136,251	139,260
Real estate assets held for sale	12,389	18,014
Other assets	49,521	50,802
Total assets	8,285,072	8,332,133
Liabilities
Debt obligations, net	5,165,861	5,167,330
Accounts payable, accrued expenses and other liabilities	458,022	494,116
Total liabilities	5,623,883	5,661,446
Commitments and contingencies (Note 15)	0	0
Equity
Common stock	2,683,676	2,698,746
Accumulated other comprehensive loss	(22,487)	(28,059)
Total equity	2,661,189	2,670,687
Total liabilities and equity	$ 8,285,072	$ 8,332,133

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2021	Dec. 31, 2020
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	3,000,000,000	3,000,000,000
Common stock, shares issued	306,073,386	305,621,403
Common stock, shares outstanding	296,946,394	296,494,411
Brixmor Operating Partnership LP
Common stock, shares issued	306,073,386	305,621,403
Common stock, shares outstanding	296,946,394	296,494,411

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Revenues
Rental income	$ 276,461	$ 280,402
Other revenues	3,285	1,899
Total revenues	279,746	282,301
Operating expenses
Operating costs	31,385	30,356
Real estate taxes	42,888	42,864
Depreciation and amortization	83,420	83,017
Impairment of real estate assets	1,467	4,598
General and administrative	24,645	22,597
Total operating expenses	183,805	183,432
Other income (expense)
Dividends and interest	87	124
Interest expense	(48,994)	(47,354)
Gain on sale of real estate assets	5,764	8,905
Loss on extinguishment of debt, net	(1,197)	(5)
Other	770	(758)
Total other expense	(43,570)	(39,088)
Net income	$ 52,371	$ 59,781
Earnings Per Share [Abstract]
Basic (usd per share)	$ 0.18	$ 0.20
Diluted (usd per share)	$ 0.18	$ 0.20
Weighted average shares:
Basic (in shares)	297,110	297,841
Diluted (in shares)	297,846	298,264
Brixmor Operating Partnership LP
Revenues
Rental income	$ 276,461	$ 280,402
Other revenues	3,285	1,899
Total revenues	279,746	282,301
Operating expenses
Operating costs	31,385	30,356
Real estate taxes	42,888	42,864
Depreciation and amortization	83,420	83,017
Impairment of real estate assets	1,467	4,598
General and administrative	24,645	22,597
Total operating expenses	183,805	183,432
Other income (expense)
Dividends and interest	87	124
Interest expense	(48,994)	(47,354)
Gain on sale of real estate assets	5,764	8,905
Loss on extinguishment of debt, net	(1,197)	(5)
Other	770	(758)
Total other expense	(43,570)	(39,088)
Net income	$ 52,371	$ 59,781
Earnings Per Share [Abstract]
Basic (usd per share)	$ 0.18	$ 0.20
Diluted (usd per share)	$ 0.18	$ 0.20
Weighted average shares:
Basic (in shares)	297,110	297,841
Diluted (in shares)	297,846	298,264

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Net income	$ 52,371	$ 59,781
Other comprehensive income (loss)
Change in unrealized gain (loss) on interest rate swaps, net (Note 6)	5,666	(23,878)
Change in unrealized gain (loss) on marketable securities	(94)	179
Total other comprehensive income (loss)	5,572	(23,699)
Comprehensive income	57,943	36,082
Brixmor Operating Partnership LP
Net income	52,371	59,781
Other comprehensive income (loss)
Change in unrealized gain (loss) on interest rate swaps, net (Note 6)	5,666	(23,878)
Change in unrealized gain (loss) on marketable securities	(94)	179
Total other comprehensive income (loss)	5,572	(23,699)
Comprehensive income	$ 57,943	$ 36,082

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 StockBrixmor Operating Partnership LP	Additional Paid-in Capital	Additional Paid-in CapitalBrixmor Operating Partnership LP	Accumulated Other Comprehensive Loss	Distributions in Excess of Net Income
Beginning balance (in shares) at Dec. 31, 2019			297,857
Beginning balance at Dec. 31, 2019	$ 2,743,857	$ 2,743,841	$ 2,979	$ 2,753,385	$ 3,230,625	$ (9,544)	$ (9,543)	$ (480,204)
Increase (Decrease) in Equity [Roll Forward]
Common stock dividends	(85,018)	(85,017)		(85,017)				(85,018)
Equity based compensation expense	2,842	2,842		2,842	2,842
Other comprehensive income (loss)	(23,699)	(23,699)				(23,699)	(23,699)
Issuance of common stock and OP Units (in shares)			242
Issuance of common stock and OP Units	2	2	$ 2	2
Repurchase of common stock (in shares)			(1,650)
Repurchases of common stock	(25,007)	(25,007)	$ (17)	(25,007)	(24,990)
Share-based awards retained for taxes	(3,405)	(3,405)		(3,405)	(3,405)
Net income	59,781	59,781		59,781				59,781
Ending balance (in shares) at Mar. 31, 2020			296,449
Ending balance at Mar. 31, 2020	2,669,353	2,669,338	$ 2,964	2,702,581	3,205,072	(33,243)	(33,242)	(505,441)
Beginning balance (in shares) at Dec. 31, 2020			296,494
Beginning balance at Dec. 31, 2020	2,680,701	2,670,687	$ 2,965	2,698,746	3,213,990	(28,059)	(28,058)	(508,196)
Increase (Decrease) in Equity [Roll Forward]
Common stock dividends	(65,120)	(65,120)		(65,120)				(65,120)
Equity based compensation expense	2,792	2,792		2,792	2,792
Other comprehensive income (loss)	5,572	5,572				5,572	5,572
Issuance of common stock and OP Units (in shares)			452
Issuance of common stock and OP Units	0		$ 4
Share-based awards retained for taxes	(5,113)	(5,113)		(5,113)	(5,113)
Net income	52,371	52,371		52,371				52,371
Ending balance (in shares) at Mar. 31, 2021			296,946
Ending balance at Mar. 31, 2021	$ 2,671,203	$ 2,661,189	$ 2,969	$ 2,683,676	$ 3,211,665	$ (22,487)	$ (22,486)	$ (520,945)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement of Stockholders' Equity [Abstract]
Dividends, per common share (in dollars per share)	$ 0.215	$ 0.285

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Operating activities:
Net income	$ 52,371	$ 59,781
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	83,420	83,017
Accretion of debt premium and discount, net	(725)	(79)
Deferred financing cost amortization	1,881	1,763
Accretion of above- and below-market leases, net	(2,930)	(4,229)
Tenant inducement amortization and other	2,071	897
Impairment of real estate assets	1,467	4,598
Gain on sale of real estate assets	(5,764)	(8,905)
Equity based compensation	2,592	2,652
Loss on extinguishment of debt, net	1,197	5
Changes in operating assets and liabilities:
Receivables, net	7,084	(1,407)
Deferred charges and prepaid expenses	(3,815)	(6,995)
Other assets	(58)	(200)
Accounts payable, accrued expenses and other liabilities	(28,278)	(35,828)
Net cash provided by operating activities	110,513	95,070
Investing activities:
Improvements to and investments in real estate assets	(62,844)	(86,696)
Acquisitions of real estate assets	(3,779)	(2,020)
Proceeds from sales of real estate assets	31,793	41,411
Purchase of marketable securities	(3,894)	(3,328)
Proceeds from sale of marketable securities	4,599	4,019
Net cash used in investing activities	(34,125)	(46,614)
Financing activities:
Repayment of secured debt obligations	0	(7,000)
Repayment of borrowings under unsecured revolving credit facility	0	(7,500)
Proceeds from borrowings under unsecured revolving credit facility	0	646,000
Proceeds from unsecured notes	349,360	0
Repayment of borrowings under unsecured term loans	(350,000)	0
Deferred financing and debt extinguishment costs	(3,088)	(404)
Distributions to common stockholders	(64,950)	(85,572)
Repurchases of common shares	0	(25,007)
Repurchases of common shares in conjunction with equity award plans	(5,113)	(3,405)
Net cash provided by (used in) financing activities	(73,791)	517,112
Net change in cash, cash equivalents and restricted cash	2,597	565,568
Cash, cash equivalents and restricted cash at beginning of period	370,087	21,523
Cash, cash equivalents and restricted cash at end of period	372,684	587,091
Reconciliation to consolidated balance sheets:
Cash and cash equivalents	371,402	584,830
Cash, cash equivalents and restricted cash at end of period	372,684	587,091
Supplemental disclosure of cash flow information:
Cash paid for interest, net of amount capitalized of $931 and $1,063	54,388	47,023
Brixmor Operating Partnership LP
Operating activities:
Net income	52,371	59,781
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	83,420	83,017
Accretion of debt premium and discount, net	(725)	(79)
Deferred financing cost amortization	1,881	1,763
Accretion of above- and below-market leases, net	(2,930)	(4,229)
Tenant inducement amortization and other	2,071	897
Impairment of real estate assets	1,467	4,598
Gain on sale of real estate assets	(5,764)	(8,905)
Equity based compensation	2,592	2,652
Loss on extinguishment of debt, net	1,197	5
Changes in operating assets and liabilities:
Receivables, net	7,084	(1,407)
Deferred charges and prepaid expenses	(3,815)	(6,995)
Other assets	(58)	(200)
Accounts payable, accrued expenses and other liabilities	(28,278)	(35,828)
Net cash provided by operating activities	110,513	95,070
Investing activities:
Improvements to and investments in real estate assets	(62,844)	(86,696)
Acquisitions of real estate assets	(3,779)	(2,020)
Proceeds from sales of real estate assets	31,793	41,411
Purchase of marketable securities	(3,894)	(3,328)
Proceeds from sale of marketable securities	4,599	4,019
Net cash used in investing activities	(34,125)	(46,614)
Financing activities:
Repayment of secured debt obligations	0	(7,000)
Repayment of borrowings under unsecured revolving credit facility	0	(7,500)
Proceeds from borrowings under unsecured revolving credit facility	0	646,000
Proceeds from unsecured notes	349,360	0
Repayment of borrowings under unsecured term loans	(350,000)	0
Deferred financing and debt extinguishment costs	(3,088)	(404)
Partner distributions and repurchases of OP Units	(70,063)	(113,983)
Net cash provided by (used in) financing activities	(73,791)	517,113
Net change in cash, cash equivalents and restricted cash	2,597	565,569
Cash, cash equivalents and restricted cash at beginning of period	360,073	21,507
Cash, cash equivalents and restricted cash at end of period	362,670	587,076
Reconciliation to consolidated balance sheets:
Cash and cash equivalents	361,388	584,815
Cash, cash equivalents and restricted cash at end of period	362,670	587,076
Supplemental disclosure of cash flow information:
Cash paid for interest, net of amount capitalized of $931 and $1,063	$ 54,388	$ 47,023

CONDENSED CONSOLIDATED STATEM_6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Interest paid, capitalized	$ 931	$ 1,063
Brixmor Operating Partnership LP
Interest paid, capitalized	$ 931	$ 1,063

Acquisition of Real Estate

Acquisition of Real Estate	3 Months Ended
	Mar. 31, 2021
Real Estate [Abstract]
Acquisition of Real Estate	Acquisition of Real Estate During the three months ended March 31, 2021, the Company acquired the following assets, in separate transactions: Description (1) Location Month Acquired GLA Aggregate Purchase Price (2) Land at Ellisville Square (3) Ellisville, MO Jan-21 N/A $ 2,014 Outparcel adjacent to Cobblestone Village St. Augustine, FL Feb-21 5,040 1,520 Land associated with Westgate Plaza Westfield, MA Mar-21 N/A 245 5,040 $ 3,779 (1) No debt was assumed related to any of the listed acquisitions. (2) Aggregate purchase price includes $0.2 million of transaction costs. (3) The Company terminated a ground lease and acquired a land parcel. During the three months ended March 31, 2020, the Company acquired the following asset: Description (1) Location Month Acquired GLA Aggregate Purchase Price (2) Land adjacent to Shops at Palm Lakes Miami Gardens, FL Feb-20 N/A $ 2,020 N/A $ 2,020 (1) No debt was assumed related to the listed acquisition. (2) Aggregate purchase price includes less than $0.1 million of transaction costs. The aggregate purchase price of the assets acquired during the three months ended March 31, 2021 and 2020, respectively, has been allocated as follows: Three Months Ended March 31, Assets 2021 2020 Land $ 2,738 $ 2,020 Buildings 1,041 — Total assets acquired $ 3,779 $ 2,020

Nature of Business and Financia

Nature of Business and Financial Statement Presentation	3 Months Ended
	Mar. 31, 2021
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 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 common stock of BPG Subsidiary Inc. (“BPG Sub”), which, in turn, is the sole member of Brixmor OP GP LLC (the “General Partner”), the sole general partner of the Operating Partnership. The Parent Company engages in the ownership, management, leasing, acquisition, disposition and redevelopment of retail shopping centers through the Operating Partnership, and has no other substantial assets or liabilities other than through its investment in the Operating Partnership. The Parent Company, the Operating Partnership and their controlled subsidiaries on a consolidated basis (collectively, the “Company” or “Brixmor”) believes it owns and operates one of the largest open-air retail portfolios by gross leasable area (“GLA”) in the United States (“U.S.”), comprised primarily of community and neighborhood shopping centers. As of March 31, 2021, the Company’s portfolio was comprised of 389 shopping centers (the “Portfolio”) totaling approximately 68 million square feet of GLA. The Company’s high-quality national Portfolio is primarily located within established trade areas in the top 50 Metropolitan 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, 2020 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 11, 2021. 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 Brixmor Property Group Inc. 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, Brixmor Property Group Inc. must meet several organizational and operational requirements, including a requirement that it distribute at least 90% of its REIT taxable income, determined before the deduction for dividends paid and excluding net capital gains, to its stockholders on an annual basis. Management intends to satisfy these requirements and maintain Brixmor Property Group Inc.’s REIT status. As a REIT, Brixmor Property Group Inc. 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. Brixmor Property Group Inc. 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 Brixmor Property Group Inc. 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 Brixmor Property Group Inc. qualifies for taxation as a REIT, Brixmor Property Group Inc. 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. Brixmor Property Group Inc. has elected to treat certain of its subsidiaries as taxable REIT subsidiaries (each a “TRS”), and Brixmor Property Group Inc. 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 Brixmor Property Group Inc.’s TRSs do not materially impact the unaudited Condensed Consolidated Financial Statements of the Company. The Company has considered the tax positions taken for the open tax years and has concluded that no provision for income taxes related to uncertain tax positions is required in the Company’s unaudited Condensed Consolidated Financial Statements as of March 31, 2021 and December 31, 2020. Open tax years generally range from 2017 through 2020 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 In October 2018, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2018-16, Derivatives and Hedging (Topic 815). ASU 2018-16 was subsequently amended by ASU 2020-04, Reference Rate Reform (Topic 848) and ASU 2021-01, Reference Rate Reform (Topic 848). ASU 2018-16 amends guidance to permit the use of the Overnight Index Swap (“OIS”) rate based on the Secured Overnight Financing Rate (“SOFR”) as a U.S. benchmark interest rate for hedge accounting purposes under Accounting Standards Codification (“ASC”) 815, Derivatives and Hedging . The standard became effective for the Company on January 1, 2019 and a prospective transition approach was required. The Company determined that the adoption of ASU 2018-16 did not have a material impact on the unaudited Condensed Consolidated Financial Statements of the Company. ASU 2020-04 and ASU 2021-01 contain practical expedients for reference rate reform related activities that impact debt, leases, derivatives and other contracts. The guidance in ASU 2020-04 and ASU 2021-01 is optional and may be elected over time as reference rate reform activities occur. The Company has elected to apply the hedge accounting expedients related to probability and the assessments of effectiveness for future LIBOR-indexed cash flows to assume that the index upon which future hedged transactions will be based matches the index on the corresponding derivatives. Application of these expedients preserves the presentation of derivatives consistent with past presentation. The Company continues to evaluate the impact of the guidance and may apply other elections as applicable as additional changes in the market occur.

Dispositions and Assets Held fo

Dispositions and Assets Held for Sale	3 Months Ended
	Mar. 31, 2021
Discontinued Operations and Disposal Groups [Abstract]
Dispositions and Assets Held for Sale	Dispositions and Assets Held for Sale During the three months ended March 31, 2021, the Company disposed of four shopping centers and four partial shopping centers for aggregate net proceeds of $31.8 million resulting in aggregate gain of $5.8 million and aggregate impairment of $1.5 million. During the three months ended March 31, 2020, the Company disposed of three shopping centers and two partial shopping centers for aggregate net proceeds of $40.5 million resulting in aggregate gain of $7.5 million and aggregate impairment of less than $0.1 million. In addition, during the three months ended March 31, 2020, the Company received aggregate net proceeds of $0.9 million and resolved contingencies of $0.5 million from previously disposed assets resulting in aggregate gain of $1.4 million. As of March 31, 2021, the Company had one property and four partial properties held for sale. As of December 31, 2020, the Company had two properties and one partial property held for sale. The following table presents the assets and liabilities associated with the properties classified as held for sale: Assets March 31, 2021 December 31, 2020 Land $ 2,221 $ 5,447 Buildings and improvements 13,878 16,481 Accumulated depreciation and amortization (4,167) (4,693) Real estate, net 11,932 17,235 Other assets 457 779 Assets associated with real estate assets held for sale $ 12,389 $ 18,014 Liabilities Below-market leases $ 541 $ — Liabilities associated with real estate assets held for sale (1) $ 541 $ — (1) These amounts are included in Accounts payable, accrued expenses and other liabilities on the Company’s unaudited Condensed Consolidated Balance Sheets.

Real Estate

Real Estate	3 Months Ended
	Mar. 31, 2021
Real Estate [Abstract]
Real Estate	Real Estate The Company’s components of Real estate, net consisted of the following: March 31, 2021 December 31, 2020 Land $ 1,737,338 $ 1,740,263 Buildings and improvements: Buildings and tenant improvements (1) 7,886,040 7,856,850 Lease intangibles (2) 557,470 566,448 10,180,848 10,163,561 Accumulated depreciation and amortization (3) (2,706,805) (2,659,448) Total $ 7,474,043 $ 7,504,113 (1) As of March 31, 2021 and December 31, 2020, Buildings and tenant improvements included accrued amounts, net of anticipated insurance proceeds, of $37.9 million and $33.0 million, respectively. (2) As of March 31, 2021 and December 31, 2020, Lease intangibles consisted of $502.1 million and $509.3 million, respectively, of in-place leases and $55.3 million and $57.2 million, respectively, of above-market leases. These intangible assets are amortized over the term of each related lease. (3) As of March 31, 2021 and December 31, 2020, Accumulated depreciation and amortization included $502.9 million and $507.7 million, respectively, of accumulated amortization related to Lease intangibles. In addition, as of March 31, 2021 and December 31, 2020, the Company had intangible liabilities relating to below-market leases of $343.5 million and $345.7 million, respectively, and accumulated accretion of $262.0 million and $260.3 million, respectively. These intangible liabilities are included in Accounts payable, accrued expenses and other liabilities on the Company’s unaudited Condensed Consolidated Balance Sheets. These intangible assets are accreted over the term of each related lease. Below-market lease accretion income, net of above-market lease amortization for the three months ended March 31, 2021 and 2020 was $2.9 million and $4.2 million, respectively. These amounts are included in Rental income on the Company’s unaudited Condensed Consolidated Statements of Operations. Amortization expense associated with in-place lease value for the three months ended March 31, 2021 and 2020 was $3.6 million and $5.5 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 2021 (remaining nine months) $ (8,254) $ 9,231 2022 (9,232) 8,954 2023 (8,009) 6,507 2024 (7,497) 4,841 2025 (6,333) 3,673

Impairments

Impairments	3 Months Ended
	Mar. 31, 2021
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, including the impact of the novel coronavirus (“COVID-19”), 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, a loss is recognized to reflect the estimated fair value. The Company recognized the following impairment during the three months ended March 31, 2021: Three Months Ended March 31, 2021 Property Name (1) Location GLA Impairment Charge Albany Plaza (2) Albany, GA 114,169 $ 1,467 114,169 $ 1,467 (1) The Company recognized an impairment charge based upon a change in the anticipated hold period of this property and offers from third-party buyers in connection with the Company’s capital recycling program. (2) The Company disposed of this property during the three months ended March 31, 2021. The Company recognized the following impairments during the three months ended March 31, 2020: Three Months Ended March 31, 2020 Property Name (1) Location GLA Impairment Charge Spring Mall Greenfield, WI 45,920 $ 4,584 Parcel at Lakes Crossing (2) Muskegon, MI 4,990 14 50,910 $ 4,598 (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 partial property during the year ended December 31, 2020. The Company can provide no assurance that material impairment charges with respect to its Portfolio will not occur in future periods. See Note 3 for additional information regarding impairment charges taken in connection with the Company’s dispositions. See Note 8 for additional information regarding the fair value of operating properties that have been impaired.

Financial Instruments - Derivat

Financial Instruments - Derivatives and Hedging	3 Months Ended
	Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Financial Instruments - Derivatives and Hedging	Financial Instruments – Derivatives and HedgingThe 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 and interest rate cap agreements that result in the receipt and/or payment of future known and uncertain cash amounts, the value of which are determined by interest rates. Cash Flow Hedges of Interest Rate Risk Interest rate swaps designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchanging the underlying notional amount. The Company utilizes interest rate swaps to partially hedge the cash flows associated with variable LIBOR based debt. During the three months ended March 31, 2021 and year ended December 31, 2020, the Company did not enter into any new interest rate swap agreements. During the three months ended March 31, 2021, the Company paid $1.1 million to terminate interest rate swaps with a notional amount of $250.0 million. Detail on the Company’s interest rate derivatives designated as cash flow hedges outstanding as of March 31, 2021 and December 31, 2020 is as follows: Number of Instruments Notional Amount March 31, 2021 December 31, 2020 March 31, 2021 December 31, 2020 Interest Rate Swaps 5 7 $ 550,000 $ 800,000 The Company has elected to present its interest rate derivatives on its unaudited Condensed Consolidated Balance Sheets on a gross basis as interest rate swap assets and interest rate swap liabilities. Detail on the fair value of the Company’s interest rate derivatives on a gross and net basis as of March 31, 2021 and December 31, 2020 is as follows: Fair Value of Derivative Instruments Interest rate swaps classified as: March 31, 2021 December 31, 2020 Gross derivative assets $ — $ — Gross derivative liabilities (21,715) (28,225) Net derivative liabilities $ (21,715) $ (28,225) The gross derivative assets are included in Other assets and the gross derivative liabilities are included in Accounts payable, accrued expenses and other liabilities on the Company’s unaudited Condensed Consolidated Balance Sheets. All of the Company’s outstanding interest rate swap agreements for the periods presented were designated as cash flow hedges of interest rate risk. The fair value of the Company’s interest rate derivatives is determined using market standard valuation techniques including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivative, including the period to maturity, and uses observable market-based inputs, including interest rate curves and implied volatilities. These inputs are classified as Level 2 of the fair value hierarchy. The effective portion of changes in the fair value of derivatives designated as cash flow hedges is recognized in other comprehensive income (loss) and is reclassified into earnings as interest expense in the period that the hedged forecasted transaction affects earnings. The effective portion of the Company’s interest rate swaps that was recognized on the Company’s unaudited Condensed Consolidated Statements of Comprehensive Income for the three months ended March 31, 2021 and 2020 is as follows: Derivatives in Cash Flow Hedging Relationships Three Months Ended March 31, 2021 2020 Change in unrealized gain (loss) on interest rate swaps $ 2,599 $ (23,831) Amortization (accretion) of interest rate swaps to interest expense 3,067 (47) Change in unrealized gain (loss) on interest rate swaps, net $ 5,666 $ (23,878) The Company estimates that $9.1 million will be reclassified from accumulated other comprehensive loss as an increase to interest expense over the next twelve months. No gain or loss was recognized related to hedge ineffectiveness or to amounts excluded from effectiveness testing on the Company’s cash flow hedges during the three months ended March 31, 2021 and 2020. Non-Designated (Mark-to-Market) Hedges of Interest Rate Risk The Company does not use derivatives for trading or speculative purposes. As of March 31, 2021 and December 31, 2020, the Company did not have any non-designated hedges. Credit-risk-related Contingent Features The Company has agreements with its derivative counterparties that contain provisions whereby if the Company defaults on certain of its indebtedness and the indebtedness has been accelerated by the lender, then the Company could also be declared in default on its derivative obligations. If the Company were to breach any of the contractual provisions of the derivative contracts, it would be required to settle its obligations under such agreements at their termination value, including accrued interest.

Debt Obligations

Debt Obligations	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Debt Obligations	Debt Obligations As of March 31, 2021 and December 31, 2020, the Company had the following indebtedness outstanding: Carrying Value as of March 31, December 31, Stated Interest Rate (1) Scheduled Notes payable Unsecured notes (2)(3) $ 4,868,453 $ 4,518,453 1.26% – 7.97% 2022 – 2030 Net unamortized premium 30,025 31,390 Net unamortized debt issuance costs (27,192) (25,232) Total notes payable, net $ 4,871,286 $ 4,524,611 Unsecured Credit Facility and term loans Unsecured Credit Facility - Revolving Facility $ — $ — N/A 2023 Unsecured $350 Million Term Loan — 350,000 N/A N/A Unsecured $300 Million Term Loan (4) 300,000 300,000 1.37% 2024 Net unamortized debt issuance costs (5,425) (7,281) Total Unsecured Credit Facility and term loans $ 294,575 $ 642,719 Total debt obligations, net $ 5,165,861 $ 5,167,330 (1) Stated interest rates as of March 31, 2021 do not include the impact of the Company’s interest rate swap agreements (described below). (2) The weighted average stated interest rate on the Company’s unsecured notes was 3.65% as of March 31, 2021. (3) Effective November 1, 2016, the Company has in place one interest rate swap agreement that converts the variable interest rate on the Company’s $250.0 million Floating Rate Senior Notes due 2022, issued on August 31, 2018 to a fixed, combined interest rate of 1.11% (plus a spread of 105 basis points) through July 30, 2021. (4) Effective January 2, 2019, the Company has in place four interest rate swap agreements that convert the variable interest rate on the Company’s $300.0 million term loan agreement, as amended April 29, 2020 (the “$300 Million Term Loan”) to a fixed, combined interest rate of 2.61% (plus a spread of 125 basis points) through July 26, 2024. 2021 Debt Transactions In March 2021, the Operating Partnership issued $350.0 million aggregate principal amount of 2.250% Senior Notes due 2028 (the “2028 Notes”) at 99.817% of par, the net proceeds of which were used to repay all outstanding indebtedness under the Company’s $350.0 million term loan agreement, as amended April 29, 2020 (the “$350 Million Term Loan”). The 2028 Notes bear interest at a rate of 2.250% per annum, payable semi-annually on April 1 and October 1 of each year, commencing October 1, 2021. The 2028 Notes will mature on April 1, 2028. The Operating Partnership may redeem the 2028 Notes prior to maturity, at its option, at any time in whole or from time to time in part, at the applicable redemption price specified in the Indenture with respect to the 2028 Notes. If the 2028 Notes are redeemed on or after February 1, 2028 (two months prior to the maturity date), the redemption price will be equal to 100% of the principal amount of the 2028 Notes being redeemed plus accrued and unpaid interest thereon to, but not including, the redemption date. The 2028 Notes are the Operating Partnership’s unsecured and unsubordinated obligations and rank equally in right of payment with all of the Operating Partnership’s existing and future senior unsecured and unsubordinated indebtedness. During the three months ended March 31, 2021, as a result of the repayment of the $350 Million Term Loan, the Company recognized a $1.2 million loss on extinguishment of debt. Loss on extinguishment of debt includes $1.2 million of accelerated unamortized debt issuance costs. Pursuant to the terms of the Company’s unsecured debt agreements, the Company among other things is subject to the maintenance of various financial covenants. The Company was in compliance with these covenants as of March 31, 2021. Debt Maturities As of March 31, 2021 and December 31, 2020, the Company had accrued interest of $40.7 million and $47.2 million outstanding, respectively. As of March 31, 2021, scheduled maturities of the Company’s outstanding debt obligations were as follows: Year ending December 31, 2021 (remaining nine months) $ — 2022 250,000 2023 500,000 2024 800,000 2025 700,000 Thereafter 2,918,453 Total debt maturities 5,168,453 Net unamortized premium 30,025 Net unamortized debt issuance costs (32,617) Total debt obligations, net $ 5,165,861 As of the date the financial statements were issued, the Company’s scheduled debt maturities for the next 12 months were comprised of the Company’s $250.0 million Floating Rate Senior Notes due 2022. The Company has sufficient cash on hand to satisfy these scheduled debt maturities.

Fair Value Disclosures

Fair Value Disclosures	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value Disclosures	Fair Value Disclosures All financial instruments of the Company are reflected in the accompanying unaudited Condensed Consolidated Balance Sheets at amounts which, in management’s judgment, reasonably approximate their fair values, except those instruments listed below: March 31, 2021 December 31, 2020 Carrying Fair Carrying Fair Notes payable $ 4,871,286 $ 5,210,692 $ 4,524,611 $ 5,012,523 Unsecured Credit Facility and term loans 294,575 300,520 642,719 651,639 Total debt obligations, net $ 5,165,861 $ 5,511,212 $ 5,167,330 $ 5,664,162 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 Level 1 or 2 of the fair value hierarchy. See Note 6 for fair value information regarding the Company’s interest rate derivatives. The following table presents the placement in the fair value hierarchy of assets and liabilities that are measured and recognized at fair value on a recurring basis: Fair Value Measurements as of March 31, 2021 Balance Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs Significant Unobservable Inputs Assets: Marketable securities (1) $ 18,737 $ 2,076 $ 16,661 $ — Liabilities: Interest rate derivatives $ (21,715) $ — $ (21,715) $ — Fair Value Measurements as of December 31, 2020 Balance Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs Significant Unobservable Inputs Assets: Marketable securities (1) $ 19,548 $ 980 $ 18,568 $ — Liabilities: Interest rate derivatives $ (28,225) $ — $ (28,225) $ — (1) As of March 31, 2021 and December 31, 2020, marketable securities included $0.1 million and $0.2 million of net unrealized gains, respectively. As of March 31, 2021, the contractual maturities of the Company’s marketable securities are within the next five years. Non-Recurring Fair Value On a periodic basis, management assesses whether there are any indicators, including property operating performance, changes in anticipated hold period and general market conditions, including the impact of COVID-19, 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 which 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. No properties were remeasured to fair value during the three months ended March 31, 2021 that were not sold prior to March 31, 2021. The table includes information related to properties that were remeasured to fair value as a result of impairment testing during the year ended December 31, 2020, excluding the properties sold prior to December 31, 2020: Fair Value Measurements as of December 31, 2020 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) $ 27,184 $ — $ — $ 27,184 $ 11,544 (1) Excludes properties disposed of prior to December 31, 2020. (2) The carrying value of properties remeasured to fair value based upon offers from third-party buyers during the year ended December 31, 2020 includes: (i) $14.0 million related to Northmall Centre; and (ii) $8.3 million related to The Pines Shopping Center. (3) The carrying value of properties remeasured to fair value based upon a discounted cash flow analysis during the year ended December 31, 2020 includes $4.9 million related to Spring Mall. The capitalization rate of 8.0% and discount rate of 8.0% which were utilized in the discounted cash flow analysis were based upon unobservable rates that the Company believes to be within a reasonable range of current market rates for the investment.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition The Company engages in the ownership, management, leasing, acquisition, disposition and redevelopment of retail shopping centers. Revenue is primarily generated through lease agreements and classified as Rental income on the Company’s unaudited Condensed Consolidated Statements of Operations. These agreements include retail shopping center unit leases; ground leases; ancillary leases or agreements, such as agreements with tenants for cellular towers, ATMs, and short-term or seasonal retail (e.g. Halloween or Christmas-related retail); and reciprocal easement agreements. The agreements range in term from less than one year to 25 or more years, with certain agreements containing renewal options. These renewal options range from as little as one month to five or more years. The Company’s retail shopping center leases generally require tenants to pay their proportionate share of property operating expenses such as common area expenses, utilities, insurance and real estate taxes, and certain capital expenditures related to the maintenance of the Company’s properties. Additionally, variable lease payments associated with percentage rents are recognized once the required sales data is made available. The Company recognized $2.3 million and $1.9 million of income based on percentage rents for the three months ended March 31, 2021 and 2020, respectively. These amounts are included in Rental income on the Company’s unaudited Condensed Consolidated Statements of Operations. COVID-19 The global outbreak of COVID-19 and the public health measures that have been undertaken in response have had a significant adverse impact on the Company’s business, the Company’s tenants, the real estate market, the financial markets and the global economy. The effects of COVID-19, including related government restrictions, border closings, quarantines, “shelter-in-place” orders and “social distancing” guidelines, have forced many of the Company’s tenants to close stores, reduce hours or significantly limit service, and resulted in a dramatic increase in national unemployment and a significant economic contraction in 2020. Certain tenants experiencing economic difficulties during the pandemic have sought rent relief, which has been provided on a case-by-case basis primarily in the form of rent deferrals, and, in more limited cases, in the form of rent abatements. Under ASC 842, changes to the amount or timing of lease payments subsequent to the original lease execution are generally accounted for as lease modifications. Due to the number of lease contracts that would require analysis to determine, on a lease by lease basis, whether such a concession is required to be accounted for as a lease modification, the FASB issued a Staff Q&A on accounting for leases during the COVID-19 pandemic, focused on the application of lease guidance in ASC 842. The Q&A states that it would be acceptable to make a policy election regarding rent concessions resulting from COVID-19, which would not require entities to account for the rent concessions as lease modifications or to determine whether rent concessions were contractually obligated in each original lease. Rent abatements would be recognized as reductions to revenue during the period in which they were granted. Rent deferrals would result in an increase to “Receivables, net” during the deferral period with no impact on rental revenue recognition. Any rent concession that is either unrelated to COVID-19 or substantially increases the total consideration due under the lease does not qualify for consideration under the Q&A. The Company has evaluated the impact of the Q&A and has made the following policy elections: • The Company accounts for COVID-19 rent deferrals and abatements that significantly increase the consideration due under the lease as lease modifications in accordance with ASC 842. As a result, rental revenue recognition is reduced by the amount of the deferral or abatement in the period it was granted and straight-line rental income recognition is updated over the remaining lease term. • The Company does not account for COVID-19 rent deferrals that do not significantly increase the consideration due under the lease as lease modifications. As a result, rental revenue recognition does not change, and Receivables, net increases for the deferred amount. • The Company does not account for COVID-19 rent abatements that do not significantly increase the consideration due under the lease as lease modifications. As a result, rental revenue recognition is reduced by the amount of the abatement in the period it was granted and straight-line rental income recognition does not change over the remaining lease term. The following table presents the COVID-19 related deferrals and abatements granted for lease payments due during the three months ended March 31, 2021 and 2020. Lease payments presented consist of fixed contractual base rent and may include the reimbursement of certain property operating expenses. Three Months Ended Three Months Ended Deferrals Abatements Deferrals Abatements Lease payments (lease modifications) $ 701 $ 737 $ — $ — Lease payments (not lease modifications) 6,185 2,098 — — $ 6,886 $ 2,835 $ — $ — The following table presents the deferrals that were not lease modifications and were included in Receivables, net on the Company's Unaudited Condensed Consolidated Balance Sheets: COVID-19 Deferred Receivable Beginning balance, December 31, 2020 $ 15,359 Deferred lease payments (not lease modifications) 6,185 Deferred lease payments deemed uncollectible (1,760) Deferred lease payments received (10,416) Ending balance, March 31, 2021 $ 9,368

Leases

Leases	3 Months Ended
	Mar. 31, 2021
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 a lease liability and a right-of-use (“ROU”) asset based on the present value of future lease payments over the noncancellable lease term. As of March 31, 2021 the Company is not including any prospective renewal or termination options in its lease liabilities or ROU assets, as the exercise of such options is not reasonably certain. Certain agreements require the Company to pay its proportionate share 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 lease liability and are presented as variable lease costs. The following tables present additional information pertaining to the Company’s operating leases: Three Months Ended March 31, Supplemental Statements of Operations Information 2021 2020 Operating lease costs $ 1,618 $ 1,756 Short-term lease costs 1 10 Variable lease costs 115 129 Total lease costs $ 1,734 $ 1,895 Three Months Ended March 31, Supplemental Statements of Cash Flows Information 2021 2020 Operating cash outflows from operating leases $ 1,663 $ 1,769 ROU assets written off due to lease modifications — (1,748) Operating Lease Liabilities As of March 31, 2021 Future minimum operating lease payments: 2021 (remaining nine months) $ 4,496 2022 6,032 2023 5,342 2024 5,249 2025 4,948 Thereafter 25,125 Total future minimum operating lease payments 51,192 Less: imputed interest (13,943) Operating lease liabilities $ 37,249 Supplemental Balance Sheets Information As of March 31, 2021 As of December 31, 2020 Operating lease liabilities (1)(2) $ 37,249 $ 38,599 ROU assets (1)(3) $ 32,679 $ 34,006 (1) As of March 31, 2021 and December 31, 2020, the weighted average remaining lease term was 12.7 years and 12.7 years, respectively, and the weighted average discount rate was 4.40% and 4.39%, respectively. (2) These amounts are included in Accounts payable, accrued expenses and other liabilities on the Company’s unaudited Condensed Consolidated Balance Sheets. (3) These amounts are included in Other assets on the Company’s unaudited Condensed Consolidated Balance Sheets. As of March 31, 2021, there were no material leases that have been executed but not yet commenced.

Equity and Capital

Equity and Capital	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Equity and Capital	Equity and Capital ATM Program In January 2020, the Company established an 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 over a three sellers and forward purchasers. As of March 31, 2021, no shares have been issued under the ATM Program, and as a result, $400.0 million of common stock remained available for issuance. Share Repurchase Program In January 2020, the Company established a new share repurchase program (the “Program”) for up to $400.0 million of the Company’s common stock. The Program is scheduled to expire on January 9, 2023, unless suspended or extended by the Board of Directors. The Program replaced the Company’s prior share repurchase program, which expired on December 5, 2019. During the three months ended March 31, 2021, the Company did not repurchase any shares of its common stock. During the three months ended March 31, 2020, the Company repurchased 1.7 million shares of common stock under the Program at an average price per share of $15.14 for a total of $25.0 million, excluding commissions. The Company incurred total commissions of less than $0.1 million in conjunction with the Program for the three months ended March 31, 2020. As of March 31, 2021, the Program had $375.0 million of available repurchase capacity. Common Stock In connection with the vesting of restricted stock units (“RSUs”) under the Company’s equity-based compensation plan, the Company withholds shares to satisfy tax withholding obligations. During the three months ended March 31, 2021 and 2020, the Company withheld 0.3 million and 0.2 million shares of its common stock, respectively. Dividends and Distributions During the three months ended March 31, 2021 and 2020, the Company declared common stock dividends and OP Unit distributions of $0.215 and $0.285 per share/unit, respectively. As of March 31, 2021 and December 31, 2020, the Company had declared but unpaid common stock dividends and OP Unit distributions of $66.1 million and $66.0 million, respectively. These amounts are included in Accounts payable, accrued expenses and other liabilities on the Company’s unaudited Condensed Consolidated Balance Sheets.

Stock Based Compensation

Stock Based Compensation	3 Months Ended
	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Stock Based Compensation	Stock Based Compensation During the year ended December 31, 2013, the Board of Directors approved the 2013 Omnibus Incentive Plan (the “Plan”). The Plan provides for a maximum of 15.0 million shares of the Company’s common stock to be issued for qualified and non-qualified options, stock appreciation rights, restricted stock and RSUs, OP Units, performance awards and other stock-based awards. During the three months ended March 31, 2021 and the year ended December 31, 2020, 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 which 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 that the target level of performance is achieved, was 1.0 million and 0.7 million for the three months ended March 31, 2021 and the year ended December 31, 2020, respectively, with vesting periods ranging from one During the three months ended March 31, 2021 and 2020, the Company recognized $2.8 million and $2.8 million of equity compensation expense, respectively, of which $0.2 million and $0.2 million was capitalized, respectively. These amounts are included in General and administrative expense on the Company’s unaudited Condensed Consolidated Statements of Operations. As of March 31, 2021, the Company had $28.4 million of total unrecognized compensation expense related to unvested stock compensation, which is expected to be recognized over a weighted average period of approximately 2.4 years.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Earnings Per Share	Earnings per Share Basic earnings per share (“EPS”) is calculated by dividing net income attributable to the Company’s common stockholders, including any participating securities, by the weighted average number of shares outstanding for the period. Certain restricted shares issued pursuant to the Company’s share-based compensation program are considered participating securities, as such stockholders have rights to receive non-forfeitable dividends. Fully-diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into shares of common stock. Unvested RSUs are not allocated net losses and/or any excess of dividends declared over net income, as such amounts are allocated entirely to the Company’s common stock. The following table provides a reconciliation of the numerator and denominator of the EPS calculations for the three months ended March 31, 2021 and 2020 (dollars in thousands, except per share data): Three Months Ended March 31, 2021 2020 Computation of Basic Earnings Per Share: Net income $ 52,371 $ 59,781 Non-forfeitable dividends on unvested restricted shares (186) (218) Net income attributable to the Company’s common stockholders for basic earnings per share $ 52,185 $ 59,563 Weighted average number shares outstanding – basic 297,110 297,841 Basic earnings per share attributable to the Company’s common stockholders: Net income per share $ 0.18 $ 0.20 Computation of Diluted Earnings Per Share: Net income attributable to the Company’s common stockholders for diluted earnings per share $ 52,185 $ 59,563 Weighted average shares outstanding – basic 297,110 297,841 Effect of dilutive securities: Equity awards 736 423 Weighted average shares outstanding – diluted 297,846 298,264 Diluted earnings per share attributable to the Company’s common stockholders: Net income per share $ 0.18 $ 0.20

Earnings per Unit

Earnings per Unit	3 Months Ended
	Mar. 31, 2021
Schedule of Earnings per Share [Line Items]
Earnings per Unit	Earnings per Share Basic earnings per share (“EPS”) is calculated by dividing net income attributable to the Company’s common stockholders, including any participating securities, by the weighted average number of shares outstanding for the period. Certain restricted shares issued pursuant to the Company’s share-based compensation program are considered participating securities, as such stockholders have rights to receive non-forfeitable dividends. Fully-diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into shares of common stock. Unvested RSUs are not allocated net losses and/or any excess of dividends declared over net income, as such amounts are allocated entirely to the Company’s common stock. The following table provides a reconciliation of the numerator and denominator of the EPS calculations for the three months ended March 31, 2021 and 2020 (dollars in thousands, except per share data): Three Months Ended March 31, 2021 2020 Computation of Basic Earnings Per Share: Net income $ 52,371 $ 59,781 Non-forfeitable dividends on unvested restricted shares (186) (218) Net income attributable to the Company’s common stockholders for basic earnings per share $ 52,185 $ 59,563 Weighted average number shares outstanding – basic 297,110 297,841 Basic earnings per share attributable to the Company’s common stockholders: Net income per share $ 0.18 $ 0.20 Computation of Diluted Earnings Per Share: Net income attributable to the Company’s common stockholders for diluted earnings per share $ 52,185 $ 59,563 Weighted average shares outstanding – basic 297,110 297,841 Effect of dilutive securities: Equity awards 736 423 Weighted average shares outstanding – diluted 297,846 298,264 Diluted earnings per share attributable to the Company’s common stockholders: Net income per share $ 0.18 $ 0.20
Brixmor Operating Partnership LP
Schedule of Earnings per Share [Line Items]
Earnings per Unit	Earnings per Unit Basic earnings per unit is calculated by dividing net income attributable to the Operating Partnership’s common unitholders, including any participating securities, by the weighted average number of partnership common units outstanding for the period. Certain restricted units issued pursuant to the Company’s share-based compensation program are considered participating securities, as such unitholders have rights to receive non-forfeitable dividends. Fully-diluted earnings per unit reflects the potential dilution that could occur if securities or other contracts to issue common units were exercised or converted into common units. Unvested RSUs are not allocated net losses and/or any excess of dividends declared over net income, as such amounts are allocated entirely to the Operating Partnership’s common units. The following table provides a reconciliation of the numerator and denominator of the earnings per unit calculations for the three months ended March 31, 2021 and 2020 (dollars in thousands, except per unit data): Three Months Ended March 31, 2021 2020 Computation of Basic Earnings Per Unit: Net income $ 52,371 $ 59,781 Non-forfeitable dividends on unvested restricted units (186) (218) Net income attributable to the Operating Partnership’s common units for basic earnings per unit $ 52,185 $ 59,563 Weighted average number common units outstanding – basic 297,110 297,841 Basic earnings per unit attributable to the Operating Partnership’s common units: Net income per unit $ 0.18 $ 0.20 Computation of Diluted Earnings Per Unit: Net income attributable to the Operating Partnership’s common units for diluted earnings per unit $ 52,185 $ 59,563 Weighted average common units outstanding – basic 297,110 297,841 Effect of dilutive securities: Equity awards 736 423 Weighted average common units outstanding – diluted 297,846 298,264 Diluted earnings per unit attributable to the Operating Partnership’s common units: Net income per unit $ 0.18 $ 0.20

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal Matters Except as described below, 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. As previously disclosed, on August 1, 2019, the Company finalized a settlement with the SEC with respect to matters initially disclosed on February 8, 2016 relating to a review conducted by the Audit Committee of the Company’s Board of Directors into certain accounting matters and the related conduct of certain former Company executives. The Company believes that no additional governmental proceedings relating to these matters will be brought against the Company. While the U.S. Attorney’s Office for the Southern District of New York has disclosed that it is no longer pursuing actions relating to these matters with respect to certain former employees, the Company understands that the SEC civil actions against these former employees remain pending. The Company remains obligated to advance funds to these former employees for legal and other professional fees incurred pursuant to indemnification obligations and the amounts advanced are now in excess of the Company’s insurance coverage and are being funded, and will continue to be funded, by the Company. Under certain circumstances, these former employees are contractually obligated to reimburse the Company for such amounts advanced; however, it is possible that under those circumstances the Company may not be able to recover any or all of these amounts. 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 property or disposed of by the Company or its tenants, as well as certain other potential costs which could relate to hazardous or toxic substances (including governmental fines and injuries to persons and property). The Company does not believe that any resulting liability from such matters will have a material impact on the Company’s financial condition, operating results or cash flows. During the three months ended March 31, 2021 and 2020, the Company did not incur any material governmental fines resulting from environmental matters.

Related-Party Transactions

Related-Party Transactions	3 Months Ended
	Mar. 31, 2021
Related Party Transactions [Abstract]
Related-Party Transactions	Related-Party Transactions In the ordinary course of conducting its business, the Company enters into agreements with its affiliates in relation to the leasing and management of its real estate assets. As of March 31, 2021 and December 31, 2020, there were no material receivables from or payables to related parties. During the three months ended March 31, 2021 and 2020, the Company did not engage in any material related-party transactions.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsIn preparing the unaudited Condensed Consolidated Financial Statements, the Company has evaluated events and transactions occurring after March 31, 2021 for recognition and/or disclosure purposes. Based on this evaluation, there were no subsequent events from March 31, 2021 through the date the financial statements were issued.

Nature of Business and Financ_2

Nature of Business and Financial Statement Presentation (Policies)	3 Months Ended
	Mar. 31, 2021
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, 2020 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 11, 2021.
Principles of Consolidation	Principles of ConsolidationThe 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 Brixmor Property Group Inc. 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, Brixmor Property Group Inc. must meet several organizational and operational requirements, including a requirement that it distribute at least 90% of its REIT taxable income, determined before the deduction for dividends paid and excluding net capital gains, to its stockholders on an annual basis. Management intends to satisfy these requirements and maintain Brixmor Property Group Inc.’s REIT status. As a REIT, Brixmor Property Group Inc. 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. Brixmor Property Group Inc. 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 Brixmor Property Group Inc. 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 Brixmor Property Group Inc. qualifies for taxation as a REIT, Brixmor Property Group Inc. 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. Brixmor Property Group Inc. has elected to treat certain of its subsidiaries as taxable REIT subsidiaries (each a “TRS”), and Brixmor Property Group Inc. 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 Brixmor Property Group Inc.’s TRSs do not materially impact the unaudited Condensed Consolidated Financial Statements of the Company. The Company has considered the tax positions taken for the open tax years and has concluded that no provision for income taxes related to uncertain tax positions is required in the Company’s unaudited Condensed Consolidated Financial Statements as of March 31, 2021 and December 31, 2020. Open tax years generally range from 2017 through 2020 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 In October 2018, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2018-16, Derivatives and Hedging (Topic 815). ASU 2018-16 was subsequently amended by ASU 2020-04, Reference Rate Reform (Topic 848) and ASU 2021-01, Reference Rate Reform (Topic 848). ASU 2018-16 amends guidance to permit the use of the Overnight Index Swap (“OIS”) rate based on the Secured Overnight Financing Rate (“SOFR”) as a U.S. benchmark interest rate for hedge accounting purposes under Accounting Standards Codification (“ASC”) 815, Derivatives and Hedging . The standard became effective for the Company on January 1, 2019 and a prospective transition approach was required. The Company determined that the adoption of ASU 2018-16 did not have a material impact on the unaudited Condensed Consolidated Financial Statements of the Company. ASU 2020-04 and ASU 2021-01 contain practical expedients for reference rate reform related activities that impact debt, leases, derivatives and other contracts. The guidance in ASU 2020-04 and ASU 2021-01 is optional and may be elected over time as reference rate reform activities occur. The Company has elected to apply the hedge accounting expedients related to probability and the assessments of effectiveness for future LIBOR-indexed cash flows to assume that the index upon which future hedged transactions will be based matches the index on the corresponding derivatives. Application of these expedients preserves the presentation of derivatives consistent with past presentation. The Company continues to evaluate the impact of the guidance and may apply other elections as applicable as additional changes in the market occur.

Acquisition of Real Estate (Tab

Acquisition of Real Estate (Tables)	3 Months Ended
	Mar. 31, 2021
Real Estate [Abstract]
Schedule of Business Acquisitions, by Acquisition	During the three months ended March 31, 2021, the Company acquired the following assets, in separate transactions: Description (1) Location Month Acquired GLA Aggregate Purchase Price (2) Land at Ellisville Square (3) Ellisville, MO Jan-21 N/A $ 2,014 Outparcel adjacent to Cobblestone Village St. Augustine, FL Feb-21 5,040 1,520 Land associated with Westgate Plaza Westfield, MA Mar-21 N/A 245 5,040 $ 3,779 (1) No debt was assumed related to any of the listed acquisitions. (2) Aggregate purchase price includes $0.2 million of transaction costs. (3) The Company terminated a ground lease and acquired a land parcel. During the three months ended March 31, 2020, the Company acquired the following asset: Description (1) Location Month Acquired GLA Aggregate Purchase Price (2) Land adjacent to Shops at Palm Lakes Miami Gardens, FL Feb-20 N/A $ 2,020 N/A $ 2,020 (1) No debt was assumed related to the listed acquisition. (2) Aggregate purchase price includes less than $0.1 million of transaction costs.
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The aggregate purchase price of the assets acquired during the three months ended March 31, 2021 and 2020, respectively, has been allocated as follows: Three Months Ended March 31, Assets 2021 2020 Land $ 2,738 $ 2,020 Buildings 1,041 — Total assets acquired $ 3,779 $ 2,020

Dispositions and Assets Held _2

Dispositions and Assets Held for Sale (Tables)	3 Months Ended
	Mar. 31, 2021
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Reclassificationa of Disposal Groups, Including Discontinued Operations	The following table presents the assets and liabilities associated with the properties classified as held for sale: Assets March 31, 2021 December 31, 2020 Land $ 2,221 $ 5,447 Buildings and improvements 13,878 16,481 Accumulated depreciation and amortization (4,167) (4,693) Real estate, net 11,932 17,235 Other assets 457 779 Assets associated with real estate assets held for sale $ 12,389 $ 18,014 Liabilities Below-market leases $ 541 $ — Liabilities associated with real estate assets held for sale (1) $ 541 $ — (1) These amounts are included in Accounts payable, accrued expenses and other liabilities on the Company’s unaudited Condensed Consolidated Balance Sheets.

Real Estate (Tables)

Real Estate (Tables)	3 Months Ended
	Mar. 31, 2021
Real Estate [Abstract]
Schedule of real estate properties	The Company’s components of Real estate, net consisted of the following: March 31, 2021 December 31, 2020 Land $ 1,737,338 $ 1,740,263 Buildings and improvements: Buildings and tenant improvements (1) 7,886,040 7,856,850 Lease intangibles (2) 557,470 566,448 10,180,848 10,163,561 Accumulated depreciation and amortization (3) (2,706,805) (2,659,448) Total $ 7,474,043 $ 7,504,113 (1) As of March 31, 2021 and December 31, 2020, Buildings and tenant improvements included accrued amounts, net of anticipated insurance proceeds, of $37.9 million and $33.0 million, respectively. (2) As of March 31, 2021 and December 31, 2020, Lease intangibles consisted of $502.1 million and $509.3 million, respectively, of in-place leases and $55.3 million and $57.2 million, respectively, of above-market leases. These intangible assets are amortized over the term of each related lease. (3) As of March 31, 2021 and December 31, 2020, Accumulated depreciation and amortization included $502.9 million and $507.7 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 2021 (remaining nine months) $ (8,254) $ 9,231 2022 (9,232) 8,954 2023 (8,009) 6,507 2024 (7,497) 4,841 2025 (6,333) 3,673

Impairments (Tables)

Impairments (Tables)	3 Months Ended
	Mar. 31, 2021
Impairment of Real Estate [Abstract]
Schedule of Impairments	The Company recognized the following impairment during the three months ended March 31, 2021: Three Months Ended March 31, 2021 Property Name (1) Location GLA Impairment Charge Albany Plaza (2) Albany, GA 114,169 $ 1,467 114,169 $ 1,467 (1) The Company recognized an impairment charge based upon a change in the anticipated hold period of this property and offers from third-party buyers in connection with the Company’s capital recycling program. (2) The Company disposed of this property during the three months ended March 31, 2021. The Company recognized the following impairments during the three months ended March 31, 2020: Three Months Ended March 31, 2020 Property Name (1) Location GLA Impairment Charge Spring Mall Greenfield, WI 45,920 $ 4,584 Parcel at Lakes Crossing (2) Muskegon, MI 4,990 14 50,910 $ 4,598 (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 partial property during the year ended December 31, 2020.

Financial Instruments - Deriv_2

Financial Instruments - Derivatives and Hedging (Tables)	3 Months Ended
	Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of interest rate derivatives	Number of Instruments Notional Amount March 31, 2021 December 31, 2020 March 31, 2021 December 31, 2020 Interest Rate Swaps 5 7 $ 550,000 $ 800,000
Schedule of derivative instruments in Statement of Financial Position, fair value	Fair Value of Derivative Instruments Interest rate swaps classified as: March 31, 2021 December 31, 2020 Gross derivative assets $ — $ — Gross derivative liabilities (21,715) (28,225) Net derivative liabilities $ (21,715) $ (28,225)
Schedule of Derivatives in Cash Flow Hedging Relationships	Derivatives in Cash Flow Hedging Relationships Three Months Ended March 31, 2021 2020 Change in unrealized gain (loss) on interest rate swaps $ 2,599 $ (23,831) Amortization (accretion) of interest rate swaps to interest expense 3,067 (47) Change in unrealized gain (loss) on interest rate swaps, net $ 5,666 $ (23,878)

Debt Obligations (Tables)

Debt Obligations (Tables)	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Debt obligations under various arrangements with financial institutions	As of March 31, 2021 and December 31, 2020, the Company had the following indebtedness outstanding: Carrying Value as of March 31, December 31, Stated Interest Rate (1) Scheduled Notes payable Unsecured notes (2)(3) $ 4,868,453 $ 4,518,453 1.26% – 7.97% 2022 – 2030 Net unamortized premium 30,025 31,390 Net unamortized debt issuance costs (27,192) (25,232) Total notes payable, net $ 4,871,286 $ 4,524,611 Unsecured Credit Facility and term loans Unsecured Credit Facility - Revolving Facility $ — $ — N/A 2023 Unsecured $350 Million Term Loan — 350,000 N/A N/A Unsecured $300 Million Term Loan (4) 300,000 300,000 1.37% 2024 Net unamortized debt issuance costs (5,425) (7,281) Total Unsecured Credit Facility and term loans $ 294,575 $ 642,719 Total debt obligations, net $ 5,165,861 $ 5,167,330 (1) Stated interest rates as of March 31, 2021 do not include the impact of the Company’s interest rate swap agreements (described below). (2) The weighted average stated interest rate on the Company’s unsecured notes was 3.65% as of March 31, 2021. (3) Effective November 1, 2016, the Company has in place one interest rate swap agreement that converts the variable interest rate on the Company’s $250.0 million Floating Rate Senior Notes due 2022, issued on August 31, 2018 to a fixed, combined interest rate of 1.11% (plus a spread of 105 basis points) through July 30, 2021. (4) Effective January 2, 2019, the Company has in place four interest rate swap agreements that convert the variable interest rate on the Company’s $300.0 million term loan agreement, as amended April 29, 2020 (the “$300 Million Term Loan”) to a fixed, combined interest rate of 2.61% (plus a spread of 125 basis points) through July 26, 2024.
Future expected/scheduled maturities of outstanding debt and capital lease obligations	As of March 31, 2021 and December 31, 2020, the Company had accrued interest of $40.7 million and $47.2 million outstanding, respectively. As of March 31, 2021, scheduled maturities of the Company’s outstanding debt obligations were as follows: Year ending December 31, 2021 (remaining nine months) $ — 2022 250,000 2023 500,000 2024 800,000 2025 700,000 Thereafter 2,918,453 Total debt maturities 5,168,453 Net unamortized premium 30,025 Net unamortized debt issuance costs (32,617) Total debt obligations, net $ 5,165,861

Fair Value Disclosures (Tables)

Fair Value Disclosures (Tables)	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Schedule Of Fair Value Debt Obligation	All financial instruments of the Company are reflected in the accompanying unaudited Condensed Consolidated Balance Sheets at amounts which, in management’s judgment, reasonably approximate their fair values, except those instruments listed below: March 31, 2021 December 31, 2020 Carrying Fair Carrying Fair Notes payable $ 4,871,286 $ 5,210,692 $ 4,524,611 $ 5,012,523 Unsecured Credit Facility and term loans 294,575 300,520 642,719 651,639 Total debt obligations, net $ 5,165,861 $ 5,511,212 $ 5,167,330 $ 5,664,162
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following table presents the placement in the fair value hierarchy of assets and liabilities that are measured and recognized at fair value on a recurring basis: Fair Value Measurements as of March 31, 2021 Balance Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs Significant Unobservable Inputs Assets: Marketable securities (1) $ 18,737 $ 2,076 $ 16,661 $ — Liabilities: Interest rate derivatives $ (21,715) $ — $ (21,715) $ — Fair Value Measurements as of December 31, 2020 Balance Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs Significant Unobservable Inputs Assets: Marketable securities (1) $ 19,548 $ 980 $ 18,568 $ — Liabilities: Interest rate derivatives $ (28,225) $ — $ (28,225) $ —
Fair Value Measurements, Nonrecurring	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. No properties were remeasured to fair value during the three months ended March 31, 2021 that were not sold prior to March 31, 2021. The table includes information related to properties that were remeasured to fair value as a result of impairment testing during the year ended December 31, 2020, excluding the properties sold prior to December 31, 2020: Fair Value Measurements as of December 31, 2020 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) $ 27,184 $ — $ — $ 27,184 $ 11,544 (1) Excludes properties disposed of prior to December 31, 2020. (2) The carrying value of properties remeasured to fair value based upon offers from third-party buyers during the year ended December 31, 2020 includes: (i) $14.0 million related to Northmall Centre; and (ii) $8.3 million related to The Pines Shopping Center. (3) The carrying value of properties remeasured to fair value based upon a discounted cash flow analysis during the year ended December 31, 2020 includes $4.9 million related to Spring Mall. The capitalization rate of 8.0% and discount rate of 8.0% which were utilized in the discounted cash flow analysis were based upon unobservable rates that the Company believes to be within a reasonable range of current market rates for the investment.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Schedule of COVID-19 Related Deferrals and Abatements Granted for Lease Payments	The following table presents the COVID-19 related deferrals and abatements granted for lease payments due during the three months ended March 31, 2021 and 2020. Lease payments presented consist of fixed contractual base rent and may include the reimbursement of certain property operating expenses. Three Months Ended Three Months Ended Deferrals Abatements Deferrals Abatements Lease payments (lease modifications) $ 701 $ 737 $ — $ — Lease payments (not lease modifications) 6,185 2,098 — — $ 6,886 $ 2,835 $ — $ —
Schedule of Deferrals, Without Lease Modifications	The following table presents the deferrals that were not lease modifications and were included in Receivables, net on the Company's Unaudited Condensed Consolidated Balance Sheets: COVID-19 Deferred Receivable Beginning balance, December 31, 2020 $ 15,359 Deferred lease payments (not lease modifications) 6,185 Deferred lease payments deemed uncollectible (1,760) Deferred lease payments received (10,416) Ending balance, March 31, 2021 $ 9,368

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2021
Leases [Abstract]
Schedule of Operating Leases	The following tables present additional information pertaining to the Company’s operating leases: Three Months Ended March 31, Supplemental Statements of Operations Information 2021 2020 Operating lease costs $ 1,618 $ 1,756 Short-term lease costs 1 10 Variable lease costs 115 129 Total lease costs $ 1,734 $ 1,895 Three Months Ended March 31, Supplemental Statements of Cash Flows Information 2021 2020 Operating cash outflows from operating leases $ 1,663 $ 1,769 ROU assets written off due to lease modifications — (1,748) Operating Lease Liabilities As of March 31, 2021 Future minimum operating lease payments: 2021 (remaining nine months) $ 4,496 2022 6,032 2023 5,342 2024 5,249 2025 4,948 Thereafter 25,125 Total future minimum operating lease payments 51,192 Less: imputed interest (13,943) Operating lease liabilities $ 37,249 Supplemental Balance Sheets Information As of March 31, 2021 As of December 31, 2020 Operating lease liabilities (1)(2) $ 37,249 $ 38,599 ROU assets (1)(3) $ 32,679 $ 34,006 (1) As of March 31, 2021 and December 31, 2020, the weighted average remaining lease term was 12.7 years and 12.7 years, respectively, and the weighted average discount rate was 4.40% and 4.39%, respectively. (2) These amounts are included in Accounts payable, accrued expenses and other liabilities on the Company’s unaudited Condensed Consolidated Balance Sheets. (3) These amounts are included in Other assets on the Company’s unaudited Condensed Consolidated Balance Sheets.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Schedule of earnings per share, basic and diluted	The following table provides a reconciliation of the numerator and denominator of the EPS calculations for the three months ended March 31, 2021 and 2020 (dollars in thousands, except per share data): Three Months Ended March 31, 2021 2020 Computation of Basic Earnings Per Share: Net income $ 52,371 $ 59,781 Non-forfeitable dividends on unvested restricted shares (186) (218) Net income attributable to the Company’s common stockholders for basic earnings per share $ 52,185 $ 59,563 Weighted average number shares outstanding – basic 297,110 297,841 Basic earnings per share attributable to the Company’s common stockholders: Net income per share $ 0.18 $ 0.20 Computation of Diluted Earnings Per Share: Net income attributable to the Company’s common stockholders for diluted earnings per share $ 52,185 $ 59,563 Weighted average shares outstanding – basic 297,110 297,841 Effect of dilutive securities: Equity awards 736 423 Weighted average shares outstanding – diluted 297,846 298,264 Diluted earnings per share attributable to the Company’s common stockholders: Net income per share $ 0.18 $ 0.20

Earnings per Unit (Tables)

Earnings per Unit (Tables)	3 Months Ended
	Mar. 31, 2021
Schedule of Earnings per Share [Line Items]
Schedule of earnings per unit, basic and diluted	The following table provides a reconciliation of the numerator and denominator of the EPS calculations for the three months ended March 31, 2021 and 2020 (dollars in thousands, except per share data): Three Months Ended March 31, 2021 2020 Computation of Basic Earnings Per Share: Net income $ 52,371 $ 59,781 Non-forfeitable dividends on unvested restricted shares (186) (218) Net income attributable to the Company’s common stockholders for basic earnings per share $ 52,185 $ 59,563 Weighted average number shares outstanding – basic 297,110 297,841 Basic earnings per share attributable to the Company’s common stockholders: Net income per share $ 0.18 $ 0.20 Computation of Diluted Earnings Per Share: Net income attributable to the Company’s common stockholders for diluted earnings per share $ 52,185 $ 59,563 Weighted average shares outstanding – basic 297,110 297,841 Effect of dilutive securities: Equity awards 736 423 Weighted average shares outstanding – diluted 297,846 298,264 Diluted earnings per share attributable to the Company’s common stockholders: Net income per share $ 0.18 $ 0.20
Brixmor Operating Partnership LP
Schedule of Earnings per Share [Line Items]
Schedule of earnings per unit, basic and diluted	The following table provides a reconciliation of the numerator and denominator of the earnings per unit calculations for the three months ended March 31, 2021 and 2020 (dollars in thousands, except per unit data): Three Months Ended March 31, 2021 2020 Computation of Basic Earnings Per Unit: Net income $ 52,371 $ 59,781 Non-forfeitable dividends on unvested restricted units (186) (218) Net income attributable to the Operating Partnership’s common units for basic earnings per unit $ 52,185 $ 59,563 Weighted average number common units outstanding – basic 297,110 297,841 Basic earnings per unit attributable to the Operating Partnership’s common units: Net income per unit $ 0.18 $ 0.20 Computation of Diluted Earnings Per Unit: Net income attributable to the Operating Partnership’s common units for diluted earnings per unit $ 52,185 $ 59,563 Weighted average common units outstanding – basic 297,110 297,841 Effect of dilutive securities: Equity awards 736 423 Weighted average common units outstanding – diluted 297,846 298,264 Diluted earnings per unit attributable to the Operating Partnership’s common units: Net income per unit $ 0.18 $ 0.20

Nature of Business and Financ_3

Nature of Business and Financial Statement Presentation (Details)	Mar. 31, 2021ft²Property
Nture of Oerations and Financial Statements Presentation [Line Items]
GLA	5,040
Shopping Center
Nture of Oerations and Financial Statements Presentation [Line Items]
Number of real estate properties | Property	389
GLA	68,000,000
Parent Company | BPG Sub
Nture of Oerations and Financial Statements Presentation [Line Items]
Ownership percentage	100.00%

Acquisition of Real Estate (Pro

Acquisition of Real Estate (Properties Acquired) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)ft²	Mar. 31, 2020USD ($)
Business Acquisition [Line Items]
GLA | ft²	5,040
Aggregate Purchase Price	$ 3,779	$ 2,020
Transaction costs	200	$ 100
Land at Ellisville Square (3)
Business Acquisition [Line Items]
Aggregate Purchase Price	$ 2,014
Outparcel adjacent to Cobblestone Village
Business Acquisition [Line Items]
GLA | ft²	5,040
Aggregate Purchase Price	$ 1,520
Land associated with Westgate Plaza
Business Acquisition [Line Items]
Aggregate Purchase Price	245
Land adjacent to Shops at Palm Lakes
Business Acquisition [Line Items]
Aggregate Purchase Price	$ 2,020

Acquisition of Real Estate (Pur

Acquisition of Real Estate (Purchase Price) (Details) - Acquired Properties - USD ($) $ in Thousands	Mar. 31, 2021	Mar. 31, 2020
Assets
Land	$ 2,738	$ 2,020
Buildings	1,041	0
Total assets	$ 3,779	$ 2,020

Dispositions and Assets Held _3

Dispositions and Assets Held for Sale (Narrative) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)shopping_centerproperty	Mar. 31, 2020USD ($)shopping_center	Dec. 31, 2020property
Schedule of Acquisitions and Dispositions [Line Items]
Gain on sale	$ 5,764	$ 8,905
Disposed of by Sale
Schedule of Acquisitions and Dispositions [Line Items]
Number of shopping centers sold | shopping_center	4	3
Number of partial shopping centers sold | shopping_center	4	2
Proceeds from sale of property	$ 31,800	$ 40,500
Gain on sale	5,800	7,500
Provisions of impairment	$ 1,500	100
Disposed of by Sale | Previously Disposed Assets
Schedule of Acquisitions and Dispositions [Line Items]
Proceeds from sale of property		900
Gain on sale		1,400
Contingencies received		$ 500
Held-for-sale
Schedule of Acquisitions and Dispositions [Line Items]
Number of real estate properties | property	1		2
Held-for-sale | Partial Properties
Schedule of Acquisitions and Dispositions [Line Items]
Number of real estate properties | property			1

Dispositions and Assets Held _4

Dispositions and Assets Held for Sale (Held for Sale) (Details) $ in Thousands	Mar. 31, 2021USD ($)property	Dec. 31, 2020USD ($)property
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets associated with real estate assets held for sale	$ 12,389	$ 18,014
Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties | property	1	2
Land	$ 2,221	$ 5,447
Buildings and improvements	13,878	16,481
Accumulated depreciation and amortization	(4,167)	(4,693)
Real estate, net	11,932	17,235
Other assets	457	779
Assets associated with real estate assets held for sale	12,389	18,014
Below-market leases	541	0
Liabilities associated with real estate assets held for sale	$ 541	$ 0

Real Estate (Details)

Real Estate (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Jun. 30, 2020	Dec. 31, 2020
Real Estate Owned, Disclosure of Detailed Components [Abstract]
Land	$ 1,737,338			$ 1,740,263
Building and tenant improvements	7,886,040			7,856,850
Lease intangibles	557,470			566,448
Real estate, gross	10,180,848			10,163,561
Accumulated depreciation and amortization	(2,706,805)			(2,659,448)
Total	7,474,043			7,504,113
Accrued capital expenditures and tenant improvements	37,900		$ 33,000
Accumulated amortization	502,900			507,700
Intangible liabilities relating to below-market leases	343,500			345,700
Accumulated amortization on below-market leases	262,000			260,300
Below-market lease intangible amortization	2,900	$ 4,200
Amortization of intangible assets	3,600	$ 5,500
Leases, acquired-in-place
Real Estate Owned, Disclosure of Detailed Components [Abstract]
In-place lease value	502,100			509,300
In-place lease amortization expense
2021 (remaining nine months)	9,231
2022	8,954
2023	6,507
2024	4,841
2025	3,673
Above market leases
Real Estate Owned, Disclosure of Detailed Components [Abstract]
Above market leases	55,300			$ 57,200
Below-market lease accretion (income), net of above-market lease amortization expense
Below-market lease accretion (income), net of above-market lease amortization expense
2021 (remaining nine months)	(8,254)
2022	(9,232)
2023	(8,009)
2024	(7,497)
2025	$ (6,333)

Impairments (Details)

Impairments (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)ft²	Mar. 31, 2020USD ($)ft²
Real Estate Properties [Line Items]
GLA | ft²	114,169	50,910
Impairment Charge | $	$ 1,467	$ 4,598
Albany Plaza
Real Estate Properties [Line Items]
GLA | ft²	114,169
Impairment Charge | $	$ 1,467
Spring Mall
Real Estate Properties [Line Items]
GLA | ft²		45,920
Impairment Charge | $		$ 4,584
Parcel at Lakes Crossing
Real Estate Properties [Line Items]
GLA | ft²		4,990
Impairment Charge | $		$ 14

Financial Instruments - Deriv_3

Financial Instruments - Derivatives and Hedging (Narrative) (Details)	3 Months Ended		12 Months Ended
	Mar. 31, 2021USD ($)derivative_instrument	Mar. 31, 2020USD ($)	Dec. 31, 2020derivative_instrument
Maximum
Debt Instrument [Line Items]
Amount expected to be reclassified from accumulated other comprehensive loss in the next twelve months	$ 9,100,000
Interest Rate Swap | Designated as Hedging Instrument
Debt Instrument [Line Items]
Number of instruments entered | derivative_instrument	0		0
Termination fees	$ 1,100,000
Terminated notional amount	250,000,000
Gain (loss) on derivative	$ 0	$ 0

Financial Instruments - Deriv_4

Financial Instruments - Derivatives and Hedging (Notional Amount) (Details) - Interest Rate Swap - Designated as Hedging Instrument $ in Thousands	Mar. 31, 2021USD ($)derivative_instrument	Dec. 31, 2020USD ($)derivative_instrument
Derivative [Line Items]
Number of Instruments | derivative_instrument	5	7
Notional Amount | $	$ 550,000	$ 800,000

Financial Instruments - Deriv_5

Financial Instruments - Derivatives and Hedging (Fair Value) (Details) - Interest Rate Swap - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Derivatives, Fair Value [Line Items]
Gross derivative assets	$ 0	$ 0
Gross derivative liabilities	(21,715)	(28,225)
Net derivative liabilities	$ (21,715)	$ (28,225)

Financial Instruments - Deriv_6

Financial Instruments - Derivatives and Hedging (Cash Flow Hedging Relationship) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Change in unrealized gain (loss) on interest rate swaps	$ 2,599	$ (23,831)
Amortization (accretion) of interest rate swaps to interest expense	3,067	(47)
Change in unrealized gain (loss) on interest rate swaps, net	$ 5,666	$ (23,878)

Debt Obligations (Shedule of De

Debt Obligations (Shedule of Debt) (Details)	1 Months Ended	3 Months Ended
	Aug. 31, 2018USD ($)	Mar. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 12, 2018USD ($)derivative_instrument	Nov. 01, 2016derivative_instrument
Debt obligations under various arrangements with financial institutions
Long-term debt		$ 5,168,453,000
Net unamortized debt issuance costs		(32,617,000)
Total debt obligations		5,165,861,000	$ 5,167,330,000
Floating Rate Senior Notes due 2022 | Brixmor Operating Partnership LP
Debt obligations under various arrangements with financial institutions
Term loan face amount	$ 250,000,000
Effective percentage	1.11%
Stated spread rate	1.05%
Term Loan | Unsecured $500 Million Term Loan | Interest Rate Swap
Debt obligations under various arrangements with financial institutions
Number of Instruments | derivative_instrument					1
Unsecured Debt
Debt obligations under various arrangements with financial institutions
Long-term debt		4,868,453,000	4,518,453,000
Net unamortized premium		30,025,000	31,390,000
Net unamortized debt issuance costs		(27,192,000)	(25,232,000)
Long-term debt		$ 4,871,286,000	4,524,611,000
Weighted average fixed interest rate		3.65%
Unsecured Debt | Minimum
Debt obligations under various arrangements with financial institutions
Stated percentage		1.26%
Unsecured Debt | Maximum
Debt obligations under various arrangements with financial institutions
Stated percentage		7.97%
Unsecured Debt | Unsecured Credit Facility
Debt obligations under various arrangements with financial institutions
Long-term debt		$ 0	0
Unsecured Debt | Term Loan | Unsecured $350 Million Term Loan
Debt obligations under various arrangements with financial institutions
Term loan face amount				$ 350,000,000
Long-term debt		0	350,000,000
Unsecured Debt | Term Loan | Unsecured $300 Million Term Loan
Debt obligations under various arrangements with financial institutions
Term loan face amount				$ 300,000,000
Long-term debt		$ 300,000,000	300,000,000
Stated percentage		1.37%
Effective percentage				2.61%
Unsecured Debt | Term Loan | Unsecured $300 Million Term Loan | Through July 26, 2024
Debt obligations under various arrangements with financial institutions
Stated spread rate		1.25%
Unsecured Debt | Term Loan | Unsecured $300 Million Term Loan | Interest Rate Swap
Debt obligations under various arrangements with financial institutions
Number of Instruments | derivative_instrument				4
Unsecured Debt | Unsecured Credit Facility and Term Loan
Debt obligations under various arrangements with financial institutions
Net unamortized debt issuance costs		$ (5,425,000)	(7,281,000)
Long-term debt		$ 294,575,000	$ 642,719,000

Debt Obligations (Narrative) (D

Debt Obligations (Narrative) (Details) - USD ($)	1 Months Ended	3 Months Ended
	Jun. 30, 2020	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Dec. 12, 2018	Aug. 31, 2018
Debt Instrument [Line Items]
Long-term debt		$ 5,168,453,000
Loss on extinguishment of debt, net		(1,197,000)	$ (5,000)
Accelerated unamortized debt premium		1,200,000
Brixmor Operating Partnership LP
Debt Instrument [Line Items]
Loss on extinguishment of debt, net		(1,197,000)	$ (5,000)
Floating Rate Senior Notes due 2022 | Brixmor Operating Partnership LP
Debt Instrument [Line Items]
Face amount of debt						$ 250,000,000
Senior Notes | 4.05% Senior Notes due 2030 | Brixmor Operating Partnership LP
Debt Instrument [Line Items]
Face amount of debt				$ 350,000,000
Stated percentage				2.25%
Redemption price, percentage	99.817%
Senior Notes | 4.05% Senior Notes due 2030 | Redeemed on or after April 1, 2030 | Brixmor Operating Partnership LP
Debt Instrument [Line Items]
Redemption price, percentage	100.00%
Unsecured Debt
Debt Instrument [Line Items]
Long-term debt		4,868,453,000		$ 4,518,453,000
Unsecured Debt | Unsecured Credit Facility
Debt Instrument [Line Items]
Long-term debt		0		0
Loss on extinguishment of debt, net		(1,200,000)
Unsecured Debt | Term Loan | Unsecured $350 Million Term Loan
Debt Instrument [Line Items]
Face amount of debt					$ 350,000,000
Long-term debt		$ 0		350,000,000
Unsecured Debt | Term Loan | Unsecured $300 Million Term Loan
Debt Instrument [Line Items]
Face amount of debt					$ 300,000,000
Stated percentage		1.37%
Long-term debt		$ 300,000,000		$ 300,000,000

Debt Obligations (Maturities) (

Debt Obligations (Maturities) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Debt Disclosure [Abstract]
Interest payable	$ 40,700	$ 47,200
Future expected/scheduled maturities of outstanding debt and capital lease
2021 (remaining nine months)	0
2022	250,000
2023	500,000
2024	800,000
2025	700,000
Thereafter	2,918,453
Total debt maturities	5,168,453
Net unamortized premium	30,025
Net unamortized debt issuance costs	(32,617)
Total debt obligations, net	$ 5,165,861	$ 5,167,330

Fair Value Disclosures (Debt Ob

Fair Value Disclosures (Debt Obligations) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Estimated fair value of the Company's debt obligations compared to their carrying amounts
Total debt obligations, net	$ 5,165,861	$ 5,167,330
Carrying Amount
Estimated fair value of the Company's debt obligations compared to their carrying amounts
Notes payable	4,871,286	4,524,611
Unsecured credit facility and term loan	294,575	642,719
Total debt obligations, net	5,165,861	5,167,330
Fair Value
Estimated fair value of the Company's debt obligations compared to their carrying amounts
Notes payable	5,210,692	5,012,523
Unsecured credit facility and term loan	300,520	651,639
Total debt obligations	$ 5,511,212	$ 5,664,162

Fair Value Disclosures (Measure

Fair Value Disclosures (Measurements) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended	9 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Jun. 30, 2020	Sep. 30, 2020	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, unrealized gain	$ (100)			$ 200
Impairment of real estate	$ 1,467	$ 4,598
Terminal capitalization rates	8.00%
Discount Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input	8.00%
Northmall Centre
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate investment, fair value	$ 14,000
The Pines Shopping Center
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate investment, fair value	8,300
Spring Mall
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate investment, fair value	4,900
Fair Value, Measurements, Recurring | Marketable Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	18,737				$ 19,548
Fair Value, Measurements, Recurring | Interest Rate Derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	(21,715)				(28,225)
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Marketable Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	2,076				980
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Interest Rate Derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	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]
Derivative asset	16,661				18,568
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Interest Rate Derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	21,715				(28,225)
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | Marketable Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0				0
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | Interest Rate Derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	$ 0				0
Fair Value, Measurements, Nonrecurring | Properties
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset					27,184
Impairment of real estate			$ 11,544
Fair Value, Measurements, Nonrecurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Properties
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset					0
Fair Value, Measurements, Nonrecurring | Significant Other Observable Inputs (Level 2) | Properties
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset					0
Fair Value, Measurements, Nonrecurring | Significant Unobservable Inputs (Level 3) | Properties
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset					$ 27,184

Revenue Recognition - Narrative

Revenue Recognition - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Revenue from Contract with Customer [Abstract]
Performance obligation, description of timing	The agreements range in term from less than one year to 25 or more years, with certain agreements containing renewal options. These renewal options range from as little as one month to five or more years.
Rental income based on percentage rents	$ 2.3	$ 1.9

Revenue Recognition - COVID-19

Revenue Recognition - COVID-19 (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Receivables
Deferred Lease Payments , Not Lease Modifications
Beginning balance	$ 15,359
Deferred lease payments (not lease modifications)	6,185
Deferred lease payments deemed uncollectible	(1,760)
Deferred lease payments received	(10,416)
Ending balance	9,368
Deferrals
Deferrals and Abatements
Lease payments (lease modifications)	701	$ 0
Lease payments (not lease modifications)	6,185	0
Lease payments	6,886	0
Abatements
Deferrals and Abatements
Lease payments (lease modifications)	737	0
Lease payments (not lease modifications)	2,098	0
Lease payments	$ 2,835	$ 0

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Lessee, Lease, Description [Line Items]
Additional term of contract	100 years
Supplemental Statements of Operations Information
Operating lease costs	$ 1,618	$ 1,756
Short-term lease costs	1	10
Variable lease costs	115	129
Total lease costs	1,734	1,895
Operating cash outflows from operating leases	1,663	1,769
ROU assets written off due to lease modifications	0	$ (1,748)
Operating Lease Liabilities
2021 (remaining nine months)	4,496
2022	6,032
2023	5,342
2024	5,249
2025	4,948
Thereafter	25,125
Total future minimum operating lease payments	51,192
Less: imputed interest	(13,943)
Operating lease liabilities	37,249		$ 38,599
ROU asset	$ 32,679		$ 34,006
Weighted average remaining lease term	12 years 8 months 12 days		12 years 8 months 12 days
Weighted average discount rate	4.40%		4.39%
Minimum
Lessee, Lease, Description [Line Items]
Term of contract	1 year
Maximum
Lessee, Lease, Description [Line Items]
Term of contract	50 years

Equity and Capital (Details)

Equity and Capital (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Jan. 31, 2020
Schedule of Shareholders' Equity [Line Items]
Compensation cost		$ 100,000
Available repurchase amount	$ 375,000,000
Dividends, per common share (in dollars per share)	$ 0.215	$ 0.285
Accounts Payable and Accrued Liabilities
Schedule of Shareholders' Equity [Line Items]
Dividends payable	$ 66,100,000		$ 66,000,000
Common Stock
Schedule of Shareholders' Equity [Line Items]
At-the-market equity offering program				$ 400,000,000
At-the-market equity offering program, period	3 years
At-the-market equity offering program, shares issued (in shares)	0
At-the-market equity offering program, stock available for future issuance	$ 400,000,000
Share repurchase program, number of shares authorized (in shares)		1,700,000
Share repurchase program, average cost per share		$ 15.14
Share repurchase program, value		$ 25,000,000
Stock repurchased during period (in shares)		1,650,000
Common Stock | RSUs
Schedule of Shareholders' Equity [Line Items]
Stock repurchased during period (in shares)	300,000	200,000
Common Stock | Maximum
Schedule of Shareholders' Equity [Line Items]
Share repurchase program, authorized amount				$ 400,000,000

Stock Based Compensation (Detai

Stock Based Compensation (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized	15
Grants in period	1	0.7
Equity based compensation, net	$ 2.8	$ 2.8
Amount capitalized	(0.2)	$ (0.2)
Compensation cost not yet recognized	$ 28.4
Weighted average remaining contractual term	2 years 4 months 24 days
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service period	1 year
Expected volatility rate	50.00%	20.00%
Risk free interest rate	0.11%	1.20%
Expected dividend rate	4.10%	5.90%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service period	5 years
Expected volatility rate	64.00%	23.00%
Risk free interest rate	0.18%	1.30%
Expected dividend rate	5.80%	6.00%

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Earnings Per Share, Basic [Abstract]
Net income	$ 52,371	$ 59,781
Non-forfeitable dividends on unvested restricted shares	(186)	(218)
Net income attributable to the Company’s common stockholders for basic earnings per share	$ 52,185	$ 59,563
Weighted average number shares outstanding – basic	297,110	297,841
Net income per share (usd per share)	$ 0.18	$ 0.20
Computation of Diluted Earnings Per Share:
Net income attributable to the Company’s common stockholders for diluted earnings per share	$ 52,185	$ 59,563
Equity awards (in shares)	736	423
Weighted average shares outstanding - diluted (in shares)	297,846	298,264
Net income per share (usd per share)	$ 0.18	$ 0.20

Earnings per Unit (Details)

Earnings per Unit (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Schedule of Earnings per Share [Line Items]
Net income	$ 52,371	$ 59,781
Non-forfeitable dividends on unvested restricted shares	(186)	(218)
Net income attributable to the Company’s common stockholders for basic earnings per share	$ 52,185	$ 59,563
Weighted average number shares outstanding – basic	297,110	297,841
Net income per share (usd per share)	$ 0.18	$ 0.20
Net income attributable to the Company’s common stockholders for diluted earnings per share	$ 52,185	$ 59,563
Equity awards (in shares)	736	423
Weighted average shares outstanding - diluted (in shares)	297,846	298,264
Net income per share (usd per share)	$ 0.18	$ 0.20
Brixmor Operating Partnership LP
Schedule of Earnings per Share [Line Items]
Net income	$ 52,371	$ 59,781
Non-forfeitable dividends on unvested restricted shares	(186)	(218)
Net income attributable to the Company’s common stockholders for basic earnings per share	$ 52,185	$ 59,563
Weighted average number shares outstanding – basic	297,110	297,841
Net income per share (usd per share)	$ 0.18	$ 0.20
Net income attributable to the Company’s common stockholders for diluted earnings per share	$ 52,185	$ 59,563
Equity awards (in shares)	736	423
Weighted average shares outstanding - diluted (in shares)	297,846	298,264
Net income per share (usd per share)	$ 0.18	$ 0.20

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Environmental Matters
Loss Contingencies [Line Items]
Litigation settlement	$ 0	$ 0

Related-Party Transactions (Det

Related-Party Transactions (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Related Party Transactions [Abstract]
Related party transactions	$ 0	$ 0