Brixmor to take over Slate Grocery REIT in $2.34 billion deal

Brixmor Property Group said on September 28, 2026, that it had struck a $2.34 billion deal with Everview Partners to take over Slate Grocery REIT, according to the company's release.

Under the terms described by Brixmor, the company will directly own 23 grocery-anchored shopping centers covering three million square feet, at a cost of $636 million. A joint venture formed with Everview will pick up the remaining 92 properties, totaling 12 million square feet. Brixmor is to retain a 20% common equity interest in that larger pool and contribute $174 million in preferred equity paying a 9% dividend.

The company's most recent reported quarter was uneven. For the three months ended June 30, 2026, disclosed on July 27, 2026, Brixmor posted revenue of $354.20 million, up 4.30% from a year earlier, and net income attributable to common shareholders of $73.51 million, or $0.24 a share on a diluted basis. That fell short of the $0.58 consensus figure, MarketBeat reported.

UBS lowered its price target on the stock to $33.00 from $37.00 on October 9, 2026, while keeping a buy rating, according to MarketBeat. Brixmor's market capitalization stood at $8.6 billion on October 23, 2026. Third-quarter results are due after the close on October 26, 2026, with a call set for 10:00 a.m. ET on October 27, 2026.

This story was first reported by ad-hoc-news.de.