Exhibit 99.2


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>SUPPLEMENTAL DISCLOSURE
Three Months Ended March 31, 2021





TABLE OF CONTENTS
Page
Note: Financial and operational information is unaudited.
For additional information, please visit www.brixmor.com, follow Brixmor on Twitter at https://twitter.com/Brixmor, on Facebook at https://www.facebook.com/Brixmor, on Instagram at https://www.instagram.com/brixmorpropertygroup and on Youtube at https://www.youtube.com/user/Brixmor, and find Brixmor on LinkedIn at www.linkedin.com/company/brixmor.
This Supplemental Disclosure may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements include, but are not limited to, statements related to the Company’s expectations regarding the performance of its business, its financial results, its liquidity and capital resources and other non-historical statements. You can identify these forward-looking statements by the use of words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “seeks,” “projects,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties, including those described under the sections entitled “Forward-Looking Statements” and “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 and the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2021, as such factors may be updated from time to time in our periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. Currently, one of the most significant factors that could cause actual outcomes or results to differ materially from forward-looking statements is the adverse effect of the current pandemic of the novel coronavirus, or COVID-19, on the financial condition, operating results and cash flows of the Company, the Company’s tenants, the real estate market, the financial markets and the global economy. The COVID-19 pandemic has impacted the Company and its tenants significantly, and the extent to which it continues to impact the Company and its tenants will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the scope, severity and duration of the pandemic, the speed and effectiveness of vaccine and treatment developments and their deployment, public adoption rates of COVID-19 vaccines, potential mutations of COVID-19, including SARS-CoV-2 and the response thereto, the direct and indirect economic effects of the pandemic and containment measures, and potential sustained changes in consumer behavior, among others. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release and in the Company’s filings with the SEC. The Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.
Supplemental Disclosure - Three Months Ended March 31, 2021
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GLOSSARY OF TERMS
TermDefinition
Anchor SpacesSpaces equal to or greater than 10,000 square feet ("SF") of GLA.
Anchor Space RepositioningAnchor leasing that is primarily focused on reconfiguring or significantly remerchandising existing space with minimal work required outside of normal tenant improvement and landlord costs.
Annualized Base Rent ("ABR")Contractual monthly base rent as of a specified date, under leases which have been signed or commenced as of the specified date, multiplied by 12. Annualized base rent differs from how rent is calculated in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for purposes of financial statements. See Straight-line Rent definition for additional information. For purposes of calculating ABR, all signed or commenced leases with an initial term of one year or greater are included.
ABR PSFABR divided by leased GLA, excluding the GLA of lessee-owned leasehold improvements.
Billed GLAAggregate GLA of all commenced leases with an initial term of one year or greater, as of a specified date.
EBITDA, EBITDAre, Adjusted EBITDA & Cash Adjusted EBITDASupplemental, non-GAAP performance measures. Please see below for more information on the limitations of non-GAAP performance measures.
A reconciliation of net income to each of these measures is provided on page 7.
EBITDA is calculated as the sum of net income (loss) calculated in accordance with GAAP excluding (i) interest expense, (ii) federal and state taxes, and (iii) depreciation and amortization. EBITDAre represents EBITDA excluding (i) gains and losses from the sale of certain real estate assets and (ii) impairment write-downs of certain real estate assets. Adjusted EBITDA represents EBITDAre excluding (i) gain (loss) on extinguishment of debt, net and (ii) other items that the Company believes are not indicative of the Company's operating performance. Cash Adjusted EBITDA represents Adjusted EBITDA excluding (i) straight-line rental income, net, (ii) accretion of below-market leases, net of amortization of above-market leases and tenant inducements and (iii) straight-line ground rent expense. EBITDA, EBITDAre, Adjusted EBITDA and Cash Adjusted EBITDA are calculated after adjustments for unconsolidated joint ventures to reflect each measure on the same basis.
Gross Leasable Area ("GLA")Represents the total amount of leasable property square footage.
Leased GLAAggregate GLA of all signed or commenced leases with an initial term of one year or greater, as of a specified date.
LIBORLondon Interbank Offered Rate.
Metropolitan Statistical Area ("MSA")Defined by the United States Office of Management and Budget as a region associated with at least one urbanized area that has a population of at least 50,000 and comprises the central county or counties containing the core, plus adjacent outlying counties having a high degree of social and economic integration with the central county or counties as measured through commuting.
NAREITNational Association of Real Estate Investment Trusts.
NAREIT Funds From Operations (“FFO")A supplemental, non-GAAP performance measure. Please see below for more information on the limitations of non-GAAP performance measures.
A reconciliation of net income to NAREIT FFO is provided on page 8.
NAREIT defines FFO as net income (loss), calculated in accordance with GAAP, excluding (i) depreciation and amortization related to real estate, (ii) gains and losses from the sale of certain real estate assets, (iii) gains and losses from change in control, (iv) impairment write-downs of certain real estate assets and investments in entities when the impairment is directly attributable to decreases in the value of depreciable real estate held by the entity and (v) after adjustments for unconsolidated joint ventures calculated to reflect FFO on the same basis.
Net Effective RentAverage ABR PSF over the lease term adjusted for tenant improvements and allowances, third party leasing commissions and tenant specific landlord work. For purposes of calculating net effective rent, ABR PSF includes the GLA of lessee-owned leasehold improvements.
Net Operating Income ("NOI")A supplemental, non-GAAP performance measure. Please see below for more information on the limitations of non-GAAP performance measures.
A reconciliation of NOI to net income is provided on page 10.
Calculated as total property revenues (base rent, expense reimbursements, adjustments for revenues deemed uncollectible, ancillary and other rental income, percentage rents and other revenues) less direct property operating expenses (operating costs and real estate taxes). NOI excludes (i) corporate level expenses (including general and administrative), (ii) lease termination fees, (iii) straight-line rental income, net, (iv) accretion of below-market leases, net of amortization of above-market leases and tenant inducements and (v) straight-line ground rent expense.
New DevelopmentRefers to ground up development of new shopping centers. Does not refer to outparcel development.
New Development & Reinvestment StabilizationNew Development and Reinvestment projects are deemed stabilized upon reaching approximately 90% billed occupancy of the impacted space. New Development and Reinvestment projects are included in the operating portfolio upon the earlier of (i) reaching approximately 90% billed occupancy of the impacted space or (ii) one year after the associated assets are placed in service.
NOI YieldCalculated as the projected incremental NOI as a percentage of the incremental third party costs of a specified project, net of any project specific credits (i.e. lease termination fees or other ancillary credits).
Non-owned Major TenantsAlso known as shadow anchors. Represents tenants that are situated on parcels which are owned by unrelated third parties, but, due to their location within or immediately adjacent to a shopping center, appear to the consumer as a retail tenant of the shopping center and, as a result, attract additional consumer traffic to the center.
Outparcel(s)Refers to a portion of a shopping center, separate from the main retail buildings and generally located on the outer edge of a property, which may currently, or in the future, contain one or several freestanding buildings.
Outparcel DevelopmentConstruction of a new freestanding building, separate from the main retail buildings and generally located on the outer edge of a property. May also refer to the demolition of an existing outparcel building to accommodate the construction of a new building.
Percent BilledBilled GLA as a percentage of total GLA.
Percent LeasedLeased GLA as a percentage of total GLA.
PSFPer square foot of GLA.
RedevelopmentLarger scale projects that typically involve new construction, reconfiguration, significant remerchandising and upgrades or demolition of a portion of the shopping center to accommodate new retailers.
Reinvestment ProjectsRepresents anchor space repositioning, outparcel development, and/or redevelopment projects.
Rent SpreadRepresents the percentage change in contractual ABR PSF in the first year of the new lease relative to contractual ABR PSF in the last year of the old lease. Rent spreads are presented only for leases deemed comparable. For purposes of calculating rent spreads, ABR PSF includes the GLA of lessee-owned leasehold improvements.
New Rent SpreadIncludes new leases signed on units that were occupied within the prior 12 months. New leases signed on units that have been vacant for longer than 12 months and new leases signed on first generation space are non-comparable and excluded from New Rent Spreads.
Renewal Rent SpreadIncludes renewal leases signed with the same tenant in all or a portion of the same location or that include the expansion into space that was occupied within the prior 12 months. Renewals that include the expansion of an existing tenant into space that has been vacant for longer than 12 months are non-comparable and excluded from Renewal Rent Spreads.
Option Rent SpreadIncludes contractual renewal options exercised by tenants in the same location to extend the term of an expiring lease.
Total Rent SpreadCombined spreads for new, renewal and option leases.
Supplemental Disclosure - Three Months Ended March 31, 2021Page 1
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GLOSSARY OF TERMS
TermDefinition
Same Property NOIA supplemental, non-GAAP performance measure. Please see below for more information on the limitations of non-GAAP performance measures. A reconciliation of Same Property NOI to net income is provided on page 13. Represents NOI of properties owned for the entirety of both periods and excluding properties under development and completed New Development properties which have been stabilized for less than one year. Same Property NOI excludes income or expense associated with the Company's captive insurance company.
Number of Properties in Same Property NOI Analysis:
Three Months
Ended 3/31/21
Total properties in Brixmor Property Group portfolio389
Acquired properties excluded from Same Property NOI
Additional exclusions(9)
Same Property NOI pool380
In addition, four outparcels acquired in 2020 and 2021 are excluded from the Same Property NOI pool for the three months ended March 31, 2021 and 2020. The balance of the shopping centers where those outparcels exist are included in the Same Property NOI pool. Additional exclusions for the three months ended March 31, 2021 and 2020 include eight properties that were subject to partial dispositions in 2021 and 2020 and one property that was subject to a partial acquisition in 2021.
Small Shop SpacesSpaces less than 10,000 SF of GLA.
Straight-line RentNon-cash revenue related to GAAP requirement to average a tenant's contractual base rent over the life of the lease. The cumulative difference between rental revenue recognized and contractual payment terms is recognized as deferred rent and included in Receivables, net. The Company periodically evaluates the collectability of its receivables related to straight-line rent. Any receivables that are deemed to be uncollectible are recognized as a reduction to straight-line rental income, net.
Year BuiltYear of most recent redevelopment or year built if no redevelopment has occurred.
COVID-19
The Company expects the economic impact of the novel strain of coronavirus (“COVID-19”) to continue to adversely impact operating results for 2021. Portfolio data presented in the Supplemental Disclosure for the quarter ended March 31, 2021 reflects the contractual obligations of tenants. Due to COVID-19, there is inherent uncertainty as it relates to the Company’s reinvestment projects, specifically with respect to expected project scopes, expected stabilization dates and expected NOI yields. For additional information refer to Form 10-Q, filed with the Securities and Exchange Commission (“SEC”) on May 3, 2021.
Non-GAAP Performance Measures
The Company presents the non-GAAP performance measures set forth below. These measures should not be considered as alternatives to, or more meaningful than, net income (calculated in accordance with GAAP) or other GAAP financial measures, as an indicator of financial performance and are not alternatives to, or more meaningful than, cash flow from operating activities (calculated in accordance with GAAP) as a measure of liquidity. Non-GAAP performance measures have limitations as they do not include all items of income and expense that affect operations, and accordingly, should always be considered as supplemental financial results to those calculated in accordance with GAAP. The Company’s computation of these non-GAAP performance measures may differ in certain respects from the methodology utilized by other REITs and, therefore, may not be comparable to similarly titled measures presented by such other REITs. Investors are cautioned that items excluded from these non-GAAP performance measures are relevant to understanding and addressing financial performance.

The Company believes that the non-GAAP performance measures it presents are useful to investors for the following reasons:
  • EBITDA, EBITDAre, Adjusted
  • EBITDA & Cash Adjusted EBITDA
Considering the nature of its business as a real estate owner and operator, the Company believes that EBITDA is useful to investors in measuring its operating performance because the definition excludes items included in net income that do not relate to or are not indicative of the operating performance of the Company’s real estate, such as interest expense, federal and state taxes, and depreciation and amortization. The Company believes EBITDAre is also useful to investors as it further eliminates disparities in EBITDA due to gains and losses from the sale of certain real estate assets and impairment write-downs of certain real estate assets during the period presented and therefore provides a more consistent metric for comparing the operating performance of the Company’s real estate between periods. The Company believes Adjusted EBITDA, which further eliminates disparities in EBITDAre due to gains and losses on extinguishment of debt and other items that the Company believes are not indicative of the Company’s operating performance, and Cash Adjusted EBITDA, which further eliminates straight-line rental income, net, accretion of below-market leases, net of amortization of above-market leases and tenant inducements, and straight-line ground rent expense, are also useful to investors in understanding the Company’s operating performance.
  • NAREIT FFOConsidering the nature of its business as a real estate owner and operator, the Company believes that NAREIT FFO is useful to investors in measuring its operating and financial performance because the definition excludes items included in net income that do not relate to or are not indicative of the Company’s operating and financial performance, such as depreciation and amortization related to real estate, and items which can make periodic and peer analyses of operating and financial performance more difficult, such as gains and losses from the sale of certain real estate assets and impairment write-downs of certain real estate assets.
  • NOI and Same Property NOIConsidering the nature of its business as a real estate owner and operator, the Company believes that NOI is useful to investors in measuring the operating performance of its property portfolio because the definition excludes various items included in net income that do not relate to, or are not indicative of, the operating performance of the Company’s properties, such as depreciation and amortization and corporate level expenses (including general and administrative). The Company believes Same Property NOI is also useful to investors as it further eliminates disparities in NOI due to the acquisition or disposition of properties or the stabilization of completed New Development properties during the period presented and therefore provides a more consistent metric for comparing the operating performance of the Company’s real estate between periods.

Supplemental Disclosure - Three Months Ended March 31, 2021Page 2
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RESULTS OVERVIEW & GUIDANCE
Unaudited, dollars in thousands, except per share and per square foot amounts
Three Months Ended
Summary Financial Results3/31/213/31/20
Total revenues (page 6)$ 279,746$ 282,301
Net income (page 6)52,37159,781
Net income per diluted share (page 6)0.180.20
NOI (page 10)200,879206,494
Adjusted EBITDA (page 7)183,642187,173
Cash Adjusted EBITDA (page 7)180,432185,974
NAREIT FFO (page 8)130,529137,494
NAREIT FFO per diluted share (page 8)0.440.46
Items that impact FFO comparability, net per share (page 8)(0.01)(0.00)
Dividends declared per share (page 8)0.2150.285
Dividend payout ratio (as % of NAREIT FFO) (page 8)48.9 %61.4 %
Three Months Ended
Summary Operating and Financial Ratios3/31/2112/31/209/30/206/30/203/31/20
NOI margin (page 10)73.0 %72.2 %73.5 %73.1 %73.8 %
Same property NOI performance (page 13) (1)(1.5)%(6.4)%(9.3)%(9.0)%3.0 %
Fixed charge coverage, current quarter annualized (page 15)3.7x3.4x3.2x3.2x4.0x
Fixed charge coverage, trailing twelve months (page 15)3.4x3.4x3.6x3.8x4.0x
Net principal debt to Adjusted EBITDA, current quarter annualized (page 15) (2)6.5x6.9x7.4x7.9x6.6x
Net principal debt to Adjusted EBITDA, trailing twelve months (page 15) (2)7.0x7.0x6.9x6.8x6.4x
Outstanding Classes of StockAs of 3/31/21As of 12/31/20As of 9/30/20As of 6/30/20As of 3/31/20
Common shares outstanding (page 15)296,946296,494296,482296,481296,449
Summary Portfolio Statistics (3)As of 3/31/21As of 12/31/20As of 9/30/20As of 6/30/20As of 3/31/20
Number of properties (page 27)389393395398400
Percent billed (page 27)87.8 %87.8 %88.0 %88.9 %89.1 %
Percent leased (page 27)90.8 %90.7 %91.2 %92.1 %92.2 %
ABR PSF (page 27)$ 15.05$ 14.93$ 14.86$ 14.83$ 14.80
New lease rent spread (page 31)20.3 %21.9 %14.1 %19.4 %23.7 %
New & renewal lease rent spread (page 31)7.0 %8.0 %5.7 %5.9 %10.2 %
Total - new, renewal & option lease rent spread (page 31)6.7 %7.4 %6.1 %6.5 %9.3 %
Total - new, renewal & option GLA (page 31)2,130,0482,213,7913,155,4331,841,5192,347,315
2021 GuidanceCurrentPrevious
(at 2/11/2021)
YTD
NAREIT FFO per diluted share$1.60 - $1.70$1.56 - $1.70$0.44
Same property NOI performance1.0% - 3.0%(1.0)% - 3.0%(1.5)%
(1) Reflects same property NOI as reported for the specified period.
(2) Net principal debt is as of the end of each specified period.
(3) Reflects portfolio statistics as reported for the specified period.

Supplemental Disclosure - Three Months Ended March 31, 2021Page 3
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>FINANCIAL SUMMARY
Supplemental Disclosure
Three Months Ended March 31, 2021





CONSOLIDATED BALANCE SHEETS
Unaudited, dollars in thousands, except share information
As ofAs of
3/31/2112/31/20
Assets
Real estate
Land$1,737,338 $1,740,263 
Buildings and tenant improvements7,760,203 7,714,105 
Construction in progress125,837 142,745 
Lease intangibles557,470 566,448 
10,180,848 10,163,561 
Accumulated depreciation and amortization(2,706,805)(2,659,448)
Real estate, net7,474,043 7,504,113 
Cash and cash equivalents371,402 368,675 
Restricted cash1,282 1,412 
Marketable securities18,737 19,548 
Receivables, net231,461 240,323 
Deferred charges and prepaid expenses, net136,251 139,260 
Real estate assets held for sale12,389 18,014 
Other assets49,521 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 liabilities458,022 494,116 
Total liabilities5,623,883 5,661,446 
Equity
Common stock, $0.01 par value; authorized 3,000,000,000 shares;
306,073,386 and 305,621,403 shares issued and 296,946,394 and 296,494,411
shares outstanding2,969 2,965 
Additional paid-in capital3,211,665 3,213,990 
Accumulated other comprehensive loss(22,486)(28,058)
Distributions in excess of net income(520,945)(508,196)
Total equity2,671,203 2,680,701 
Total liabilities and equity$8,295,086 $8,342,147 



Supplemental Disclosure - Three Months Ended March 31, 2021Page 5
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CONSOLIDATED STATEMENTS OF OPERATIONS
Unaudited, dollars in thousands, except per share amounts
Three Months Ended
3/31/213/31/20
Revenues
Rental income$276,461 $280,402 
Other revenues3,285 1,899 
Total revenues279,746 282,301 
Operating expenses
Operating costs31,385 30,356 
Real estate taxes42,888 42,864 
Depreciation and amortization83,420 83,017 
Impairment of real estate assets1,467 4,598 
General and administrative24,645 22,597 
Total operating expenses183,805 183,432 
Other income (expense)
Dividends and interest87 124 
Interest expense(48,994)(47,354)
Gain on sale of real estate assets5,764 8,905 
Loss on extinguishment of debt, net(1,197)(5)
Other770 (758)
Total other expense(43,570)(39,088)
Net income$52,371 $59,781 
Net income per common share:
Basic$0.18 $0.20 
Diluted$0.18 $0.20 
Weighted average shares:
Basic297,110 297,841 
Diluted297,846 298,264 

Supplemental Disclosure - Three Months Ended March 31, 2021Page 6
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EBITDA
Unaudited, dollars in thousands
Three Months Ended
3/31/213/31/20
Net income$52,371 $59,781 
Interest expense48,994 47,354 
Federal and state taxes94 789 
Depreciation and amortization83,420 83,017 
EBITDA184,879 190,941 
Gain on sale of real estate assets(5,764)(8,905)
Impairment of real estate assets1,467 4,598 
EBITDAre$180,582 $186,634 
EBITDAre$180,582 $186,634 
Litigation and other non-routine legal expenses1,831 522 
Loss on extinguishment of debt, net1,197 
Transaction expenses32 12 
Total adjustments3,060 539 
Adjusted EBITDA$183,642 $187,173 
Adjusted EBITDA$183,642 $187,173 
Straight-line rental income, net (1)(2,272)2,137 
Accretion of below-market leases, net of amortization of above-market leases and tenant inducements(984)(3,371)
Straight-line ground rent expense (2)46 35 
Total adjustments(3,210)(1,199)
Cash Adjusted EBITDA$180,432 $185,974 
(1) Includes straight-line rental income reversals of $1.6 million and $7.9 million for the three months ended March 31, 2021 and 2020, respectively.
(2) Straight-line ground rent expense is included in Operating costs on the Consolidated Statements of Operations.

Supplemental Disclosure - Three Months Ended March 31, 2021Page 7
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FUNDS FROM OPERATIONS (FFO)
Unaudited, dollars in thousands, except per share amounts
Three Months Ended
3/31/213/31/20
Net income$52,371 $59,781 
Depreciation and amortization related to real estate82,455 82,020 
Gain on sale of real estate assets(5,764)(8,905)
Impairment of real estate assets1,467 4,598 
NAREIT FFO$130,529 $137,494 
NAREIT FFO per diluted share$0.44 $0.46 
Weighted average diluted shares outstanding297,846 298,264 
Items that impact FFO comparability
Litigation and other non-routine legal expenses$(1,831)$(522)
Loss on extinguishment of debt, net(1,197)(5)
Transaction expenses(32)(12)
Total items that impact FFO comparability$(3,060)$(539)
Items that impact FFO comparability, net per share$(0.01)$(0.00)
Additional Disclosures
Straight-line rental income, net (1)$2,272 $(2,137)
Accretion of below-market leases, net of amortization of above-market leases and tenant inducements984 3,371 
Straight-line ground rent expense (2)(46)(35)
Dividends declared per share$0.215 $0.285 
Dividends declared$63,843 $84,488 
Dividend payout ratio (as % of NAREIT FFO)48.9 %61.4 %
(1) Includes straight-line rental income reversals of $1.6 million and $7.9 million for the three months ended March 31, 2021 and 2020, respectively.
(2) Straight-line ground rent expense is included in Operating costs on the Consolidated Statements of Operations.

Supplemental Disclosure - Three Months Ended March 31, 2021Page 8
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SUPPLEMENTAL BALANCE SHEET DETAIL
Unaudited, dollars in thousands
As ofAs of
3/31/2112/31/20
Receivables, net
Straight-line rent receivable, net$129,418 $127,349 
Tenant receivables, net97,812 107,165 
Other4,231 5,809 
Total receivables, net$231,461 $240,323 
Deferred charges and prepaid expenses, net
Deferred charges, net$115,532 $119,033 
Prepaid expenses, net20,719 20,227 
Total deferred charges and prepaid expenses, net$136,251 $139,260 
Other assets
Right-of-use asset$32,679 $34,006 
Furniture, fixtures and leasehold improvements, net10,667 11,137 
Other6,175 5,659 
Total other assets$49,521 $50,802 
Accounts payable, accrued expenses and other liabilities
Accounts payable and other accrued expenses$212,149 $236,433 
Below market leases, net81,546 85,445 
Dividends payable66,143 65,972 
Lease liability37,249 38,599 
Interest rate swaps21,715 28,225 
Real estate liabilities held for sale541 — 
Other38,679 39,442 
Total accounts payable, accrued expenses and other liabilities$458,022 $494,116 

Supplemental Disclosure - Three Months Ended March 31, 2021Page 9
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NOI & SUPPLEMENTAL STATEMENT OF OPERATIONS DETAIL
Unaudited, dollars in thousands
Three Months Ended
3/31/213/31/20
Net Operating Income Detail
Base rent$205,587 $212,847 
Expense reimbursements63,861 65,039 
Revenues deemed uncollectible(4,337)(6,226)
Ancillary and other rental income / Other revenues7,663 6,123 
Percentage rents2,332 1,896 
Operating costs(31,339)(30,321)
Real estate taxes(42,888)(42,864)
Net operating income$200,879 $206,494 
Operating Ratios
NOI margin (NOI / revenues)73.0 %73.8 %
Expense recovery ratio (expense reimbursements / (operating costs + real estate taxes))86.0 %88.9 %
Reconciliation of Net Operating Income to Net Income
Net operating income$200,879 $206,494 
Lease termination fees1,384 1,388 
Straight-line rental income, net (1)2,272 (2,137)
Accretion of below-market leases, net of amortization of above-market leases and tenant inducements984 3,371 
Straight-line ground rent expense (2)(46)(35)
Depreciation and amortization(83,420)(83,017)
Impairment of real estate assets(1,467)(4,598)
General and administrative(24,645)(22,597)
Total other expense(43,570)(39,088)
Net income$52,371 $59,781 
Supplemental Statement of Operations Detail
Rental income
Base rent$205,587 $212,847 
Expense reimbursements63,861 65,039 
Revenues deemed uncollectible(4,337)(6,226)
Lease termination fees1,384 1,388 
Straight-line rental income, net (1)2,272 (2,137)
Accretion of below-market leases, net of amortization of above-market leases and tenant inducements984 3,371 
Ancillary and other rental income4,378 4,224 
Percentage rents2,332 1,896 
Total rental income$276,461 $280,402 
Other revenues$3,285 $1,899 
Interest expense
Mortgage, note and other interest$43,597 $39,986 
Unsecured credit facility and term loan interest5,172 6,747 
Capitalized interest(931)(1,063)
Deferred financing cost amortization1,881 1,763 
Debt premium and discount accretion, net(725)(79)
Total interest expense$48,994 $47,354 
Other
Federal and state taxes$94 $789 
Other(864)(31)
Total other$(770)$758 
Additional General and Administrative Disclosures
Capitalized construction compensation costs$3,753 $3,497 
Capitalized leasing legal costs (3)437 24 
Capitalized leasing commission costs1,106 1,363 
Equity compensation expense, net2,592 2,652 
(1) Includes straight-line rental income reversals of $1.6 million and $7.9 million for the three months ended March 31, 2021 and 2020, respectively.
(2) Straight-line ground rent expense is included in Operating costs on the Consolidated Statements of Operations.
(3) Capitalized leasing legal costs represent incremental direct costs associated with the execution of a lease.
Supplemental Disclosure - Three Months Ended March 31, 2021Page 10
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SUPPLEMENTAL COVID-19 DISCLOSURE
Unaudited, dollars in thousands

Nine Months Ended 12/31/20Three Months Ended 3/31/21Twelve Months Ended 3/31/21
Total
Portfolio (5)
Percent of
Billed Base
Rent
Total
Portfolio (5)
Percent of
Billed Base
Rent
Total
Portfolio (5)
Percent of
Billed Base
Rent
Billed base rent (1)$632,962 100.0 %$207,869 100.0 %$840,831 100.0 %
Rent deferrals, net (lease modifications) and rent abatements (2)(3)(7,203)(1.1)%(2,282)(1.1)%(9,485)(1.1)%
Base rent (Page 10)625,759 98.9 %205,587 98.9 %831,346 98.9 %
Out-of-period rent deferrals, net (lease modifications), rent abatements and retro billing adjustments (2)(3)(1,717)(0.3)%1,717 0.8 %— — %
Base rent adjusted for out-of-period rent deferrals, net (lease modifications), rent
abatements and retro billing adjustments
624,042 98.6 %207,304 99.7 %831,346 98.9 %
Cash collected from tenants (2)(558,094)(88.2)%(194,532)(93.6)%(769,462)(91.5)%
Out-of-period cash collected from tenants (2)(16,836)(2.7)%— — %— — %
Accrued but uncollected base rent49,112 7.8 %12,772 6.1 %61,884 7.4 %
Rent deferrals, net (not lease modifications) (4)(30,410)(4.8)%(2,026)(1.0)%(24,869)(3.0)%
Out-of-period rent deferrals, net (not lease modifications) (4)7,567 1.2 %— — %— — %
Accrued but uncollected and unaddressed (under negotiation) base rent$26,269 4.2 %$10,746 5.2 %$37,015 4.4 %
Revenues deemed uncollectible - rent deferrals (not lease modifications) before
out-of-period adjustments
$(15,649)$(1,585)$(16,654)
Out-of-period cash collected on revenues deemed uncollectible2,362 — — 
Out-of-period additional reserve(1,370)— — 
Out-of-period deferrals on previously reserved amounts(412)— — 
Revenues deemed uncollectible - rent deferrals (not lease modifications) adjusted for out-of-period activity(15,069)(1,585)(16,654)
Revenues deemed uncollectible - accrued but uncollected and unaddressed
(under negotiation) rent before out-of-period adjustments
(32,866)(9,345)$(34,853)
Out-of-period cash collected on revenues deemed uncollectible5,241 — — 
Out-of-period additional reserve1,705 — — 
Out-of-period deferrals on previously reserved amounts412 — — 
Revenues deemed uncollectible - accrued but uncollected and unaddressed
(under negotiation) rent adjusted for out-of-period activity
(25,508)(9,345)(34,853)
Revenues deemed uncollectible - base rent$(40,577)$(10,930)$(51,507)
Revenues deemed uncollectible - base rent (cash basis tenants)$(37,486)$(10,740)$(48,226)
(1) Amounts presented represent nine months ended December 31, 2020 and three months ended March 31, 2021 base rent billings, respectively.
(2) Amounts are as of March 31, 2021 and do not reflect rent deferral or abatement agreements executed, or cash collected subsequent to, March 31, 2021.
(3) 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 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.
(4) 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.
(5) The Company did not observe significant differences in billed based rent collection percentages between the Same Property pool and the Total Portfolio through March 31, 2021.




















Supplemental Disclosure - Three Months Ended March 31, 2021Page 11
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SUPPLEMENTAL COVID-19 DISCLOSURE
Unaudited, dollars in thousands





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Supplemental Reserve Information (1)Nine Months Ended 12/31/20Three Months Ended 3/31/21Twelve Months Ended 3/31/21
Reserves on uncollected base rent
Accrued but uncollected base rent$49,112 $12,772 $61,884 
Revenues deemed uncollectible - base rent40,577 82.6 %10,930 85.6 %51,507 83.2 %
Reserves on uncollected and unaddressed (under negotiation) base rent
Accrued but uncollected and unaddressed (under negotiation) base rent$26,269 $10,746 $37,015 
Revenues deemed uncollectible - accrued but uncollected and unaddressed (under negotiation) rent adjusted for out-of-period activity25,508 97.1 %9,345 87.0 %34,853 94.2 %
Reserves on deferred base rent
Rent deferrals, net (not lease modifications) adjusted for out-of-period activity$22,843 $2,026 $24,869 
Revenues deemed uncollectible - rent deferrals (not lease modifications) adjusted for out-of-period activity15,069 66.0 %1,585 78.2 %16,654 67.0 %
(1) Amounts are as of March 31, 2021 and do not reflect rent deferral or abatement agreements executed, or cash collected subsequent to, March 31, 2021.

Supplemental Disclosure - Three Months Ended March 31, 2021Page 12
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SAME PROPERTY NOI ANALYSIS
Unaudited, dollars in thousands
Three Months Ended
3/31/213/31/20Change
Same Property NOI Analysis
Number of properties380 380 — 
Percent billed87.9 %89.4 %(1.5)%
Percent leased90.9 %92.6 %(1.7)%
Revenues
Base rent$201,279 $205,397 
Expense reimbursements62,514 62,911 
Revenues deemed uncollectible(4,330)(5,929)
Ancillary and other rental income / Other revenues7,554 5,919 
Percentage rents2,291 1,831 
269,308 270,129 (0.3)%
Operating expenses
Operating costs(30,563)(29,036)
Real estate taxes(41,918)(41,325)
(72,481)(70,361)3.0 %
Same property NOI$196,827 $199,768 (1.5)%
NOI margin73.1 %74.0 %
Expense recovery ratio86.2 %89.4 %
Percent Contribution to Same Property NOI Performance:
ChangePercent Contribution
Base rent - excluding COVID-19 rent deferrals (lease modifications) and rent abatements$(1,831)(0.9)%
Base rent - COVID-19 rent deferrals (lease modifications) and rent abatements(2,287)(1.2)%
Revenues deemed uncollectible1,599 0.8 %
Net recoveries(2,517)(1.2)%
Ancillary and other rental income / Other revenues1,635 0.8 %
Percentage rents460 0.2 %
(1.5)%
Reconciliation of Net Income to Same Property NOI
Same property NOI$196,827 $199,768 
Adjustments:
Non-same property NOI4,052 6,726 
Lease termination fees1,384 1,388 
Straight-line rental income, net2,272 (2,137)
Accretion of below-market leases, net of amortization of above-market leases and tenant inducements984 3,371 
Straight-line ground rent expense(46)(35)
Depreciation and amortization(83,420)(83,017)
Impairment of real estate assets(1,467)(4,598)
General and administrative(24,645)(22,597)
Total other expense(43,570)(39,088)
Net income$52,371 $59,781 

Supplemental Disclosure - Three Months Ended March 31, 2021Page 13
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CAPITAL EXPENDITURES
Unaudited, dollars in thousands
Three Months Ended
3/31/213/31/20
Leasing related:
Tenant improvements and tenant inducements$12,918 $15,546 
External leasing commissions2,294 1,606 
15,212 17,152 
Maintenance capital expenditures5,999 6,536 
Total leasing related and maintenance capital expenditures$21,211 $23,688 
Value-enhancing:
Anchor space repositionings$13,260 $13,346 
Outparcel developments1,401 3,665 
Redevelopments23,745 26,116 
New development214 305 
Other (1)879 6,356 
Total value-enhancing capital expenditures$39,499 $49,788 
(1) Includes, but is not limited to, minor value-enhancing projects, LED lighting upgrades and solar array installations.

Supplemental Disclosure - Three Months Ended March 31, 2021Page 14
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CAPITALIZATION, LIQUIDITY & DEBT RATIOS
Unaudited, dollars and shares in thousands except per share amounts
As ofAs of
3/31/2112/31/20
Equity Capitalization:
Common shares outstanding296,946 296,494 
Common share price$20.23 $16.55 
Total equity capitalization$6,007,218 $4,906,976 
Debt:
Revolving credit facility$— $— 
Term loans300,000 650,000 
Unsecured notes4,868,453 4,518,453 
Total principal debt5,168,453 5,168,453 
Add: Net unamortized premium30,025 31,390 
Less: Deferred financing fees(32,617)(32,513)
Total debt5,165,861 5,167,330 
Less: Cash, cash equivalents and restricted cash(372,684)(370,087)
Net debt$4,793,177 $4,797,243 
Total market capitalization$10,800,395 $9,704,219 
Liquidity:
Cash and cash equivalents and restricted cash$372,684 $370,087 
Available under revolving credit facility (1)1,244,768 1,244,768 
$1,617,452 $1,614,855 
Ratios:
Principal debt to total market capitalization47.9 %53.3 %
Principal debt to total assets, before depreciation47.0 %47.0 %
Unencumbered assets to unsecured debt2.1x2.1x
Net principal debt to Adjusted EBITDA, current quarter annualized (2)6.5x6.9x
Net principal debt to Adjusted EBITDA, trailing twelve months (2)7.0x7.0x
Interest coverage, current quarter annualized (Adjusted EBITDA / interest expense)3.7x3.4x
Interest coverage, trailing twelve months (Adjusted EBITDA / interest expense)3.4x3.4x
Fixed charge coverage, current quarter annualized (Adjusted EBITDA / (interest expense + scheduled principal payments))3.7x3.4x
Fixed charge coverage, trailing twelve months (Adjusted EBITDA / (interest expense + scheduled principal payments))3.4x3.4x
As ofAs of
3/31/2112/31/20
Percentage of total debt: (3)
Fixed100.0 %98.1 %
Variable— %1.9 %
Unencumbered summary:
Percent of properties, ABR and NOI100.0 %100.0 %
Weighted average maturity (years):
Fixed5.5 5.5 
Variable— 1.1 
Total5.5 5.4 
Credit Ratings & Outlook: (4)
Fitch RatingsBBB-Stable
Moody's Investors ServiceBaa3Stable
Standard & Poor's Ratings ServicesBBB-Stable
(1) Funds available under the revolving credit facility are reduced by five outstanding letters of credit totaling $5.2 million.
(2) Net principal debt is as of the end of each specified period.
(3) Includes the impact of the Company's interest rate swap agreements.
(4) As of May 3, 2021.
Supplemental Disclosure - Three Months Ended March 31, 2021Page 15
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DEBT OBLIGATIONS
Unaudited, dollars in thousands
Maturity Schedule - Debt Obligations
YearMaturitiesWeighted Average Stated Interest Rate (1)
2021$— — 
2022250,000 2.16 %
2023500,000 3.25 %
2024800,000 3.73 %
2025700,000 3.85 %
2026607,542 4.17 %
2027400,000 3.90 %
2028357,708 2.35 %
2029753,203 4.14 %
2030800,000 4.05 %
Total Debt Obligations$             5,168,453 3.70 %
Net unamortized premium30,025 
Deferred financing costs(32,617)
Debt Obligations, Net$             5,165,861 


Summary of Outstanding Debt Obligations
OutstandingWeighted AverageMaturityPercent of
LoanPrincipal BalanceStated Interest Rate (1)DateTotal Indebtedness
Fixed Rate Debt:
Unsecured Term Loans
Term Loan Facility - $300,000 (2)$300,000 3.86 %7/26/245.80 %
Unsecured Notes
2022 Brixmor OP Notes (3)250,000 2.16 %2/1/224.84 %
3.25%, 2023 Brixmor OP Notes500,000 3.25 %9/15/239.68 %
3.65%, 2024 Brixmor OP Notes500,000 3.65 %6/15/249.68 %
3.85%, 2025 Brixmor OP Notes700,000 3.85 %2/1/2513.54 %
4.13%, 2026 Brixmor OP Notes600,000 4.13 %6/15/2611.61 %
7.97%, 2026 Brixmor LLC Notes694 7.97 %8/14/260.01 %
7.65%, 2026 Brixmor LLC Notes6,100 7.65 %11/2/260.12 %
7.68%, 2026 Brixmor LLC Notes I748 7.68 %11/2/260.01 %
3.90%, 2027 Brixmor OP Notes400,000 3.90 %3/15/277.74 %
6.90%, 2028 Brixmor LLC Notes I2,222 6.90 %2/15/280.04 %
6.90%, 2028 Brixmor LLC Notes II5,486 6.90 %2/15/280.11 %
2.25%, 2028 Brixmor OP Notes350,000 2.25 %4/1/286.77 %
4.13%, 2029 Brixmor OP Notes750,000 4.13 %5/15/2914.51 %
7.50%, 2029 Brixmor LLC Notes3,203 7.50 %7/30/290.06 %
4.05%, 2030 Brixmor OP Notes800,000 4.05 %7/1/3015.48 %
Total Fixed Rate Unsecured Notes4,868,453 3.69 %94.20 %
Total Debt Obligations$5,168,453 3.70 %100.00 %
(1) Weighted average stated interest rate includes the impact of the Company's interest rate swap agreements.
(2) Effective January 2, 2019, the Term Loan Facility - $300,000 is swapped from one-month LIBOR to a fixed, combined rate of 2.611% (plus a spread of 125 basis points) through July 26, 2024.
(3) Effective November 1, 2016, the 2022 Brixmor OP Notes are swapped from three-month LIBOR to a fixed rate of 1.113% (plus a spread of 105 basis points) through July 30, 2021.

Supplemental Disclosure - Three Months Ended March 31, 2021Page 16
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COVENANT DISCLOSURE
Unaudited, dollars in thousands
Unsecured OP Notes Covenant Disclosure
Covenants3/31/21
I. Aggregate debt test < 65%48.1 %
Total Debt5,165,861 
Total Assets10,737,751 
II. Secured debt test (1)< 40%N/A
Total Secured Debt (1)— 
Total Assets10,737,751 
III. Unencumbered asset ratio > 150%207.9 %
Total Unencumbered Assets10,737,751 
Unsecured Debt5,165,861 
Prior Twelve MonthsPrior Six Months, Annualized
IV. Debt service test (2) > 1.5x3.5 x3.7 x
Consolidated EBITDA680,325 715,078 
Annual Debt Service Charge195,273 195,712 
(1) The Company had no secured debt as of March 31, 2021.
(2) For the OP's 2.250%, 2028 Notes and 4.050%, 2030 Notes, the covenant calculation reference period for calculating EBITDA and Debt Service Charge is the most recent twelve months for which it reported financial results. For all other OP Notes, the reference period is the most recent six months for which it reported financial results, annualized.
For detailed descriptions of the unsecured OP notes covenant calculations and definitions of capitalized terms please refer to the Prospectus Supplement filed by the OP with the Securities and Exchange Commission on March 2, 2021 and the notes and indenture incorporated therein by reference.
Unsecured Credit Facility Covenant Disclosure
Covenants3/31/21
 I. Leverage ratio < 60%41.9 %
Total Outstanding Indebtedness5,168,453 
Balance Sheet Cash (1)372,340 
Total Asset Value11,434,040 
II. Secured leverage ratio (2)< 40%N/A
Total Secured Indebtedness (2)— 
Balance Sheet Cash (1)372,340 
Total Asset Value11,434,040 
III. Unsecured leverage ratio < 60%42.0 %
Total Unsecured Indebtedness5,168,453 
Unrestricted Cash (3)371,058 
Unencumbered Asset Value11,434,040 
IV. Fixed charge coverage ratio > 1.5x3.8 x
Total Net Operating Income742,656 
Capital Expenditure Reserve10,242 
Fixed Charges194,680 
(1) Balance Sheet Cash consists of the OP's Cash and cash equivalents, Restricted cash and certain Marketable securities.
(2) The Company had no secured indebtedness as of March 31, 2021.
(3) Unrestricted Cash consists of the OP's Cash and cash equivalents and certain Marketable securities.
For detailed descriptions of the unsecured credit facility covenant calculations and definitions of capitalized terms please refer to Amendment No. 1 to the Second Amended and Restated Revolving Credit and Term Loan Agreement, dated as of April 29, 2020 filed as Exhibit 10.1 to Form 8-K, filed with the Securities and Exchange Commission on May 1, 2020.
Supplemental Disclosure - Three Months Ended March 31, 2021Page 17
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>INVESTMENT SUMMARY
Supplemental Disclosure
Three Months Ended March 31, 2021





ACQUISITIONS
Dollars in thousands, except ABR PSF
Property NameMSAPurchase DatePurchase PriceGLA / AcresPercent LeasedABR PSF (1)Major Tenants (2)
Three Months Ended March 31, 2021
Land at Ellisville Square (3)St. Louis, MO-IL1/6/21$1,965 3.3 acres---
Outparcel adjacent to Cobblestone VillageJacksonville, FL2/16/211,465 5,040 ---
Land associated with Westgate PlazaSpringfield, MA3/16/21190 21.0 acres---
$3,620 5,040 SF /
24.3 acres
TOTAL - THREE MONTHS ENDED MARCH 31, 2021$3,620 5,040 SF /
24.3 acres
(1) ABR PSF excludes the GLA of lessee-owned leasehold improvements.
(2) Major tenants exclude non-owned major tenants.
(3) Brixmor terminated a ground lease and acquired a land parcel.



Supplemental Disclosure - Three Months Ended March 31, 2021Page 19
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DISPOSITIONS
Dollars in thousands, except ABR PSF
Property NameMSASale DateSale PriceGLA /
Acres (1)
Percent Leased (1)ABR
PSF (1)(2)
Major Tenants (1)(3)
Three Months Ended March 31, 2021
Crossroads - Walmart Supercenter (4)Charlotte-Concord-Gastonia, NC-SC1/5/21$7,876 193,513 100.0 %$2.81 Walmart Supercenter
Miracle Mile Shopping Plaza - Wendy's (4)Toledo, OH2/3/211,100 3,060 100.0 %17.97 Wendy's
Braes Oaks CenterHouston-The Woodlands-Sugar Land, TX2/9/214,810 42,567 90.9 %7.49 -
The Pines Shopping CenterAlexandria, LA2/12/218,600 179,039 71.4 %7.43 Super 1 Foods, Ollie's Bargain Outlet
The Centre at NavarroVictoria, TX2/12/215,212 51,542 95.1 %15.02 ALDI, Planet Fitness
Albany PlazaAlbany, GA3/24/213,348 114,169 80.9 %6.71 Harveys (Southeastern Grocers), OK Beauty & Fashions Outlet
Westgate - McDonald's (4)Dublin, GA3/29/21871 3,744 100.0 %N/AMcDonald's
Hunting Hills - Valvoline (4)Roanoke, VA3/31/211,350 1,668 100.0 %N/AValvoline
$33,167 589,302 
TOTAL - THREE MONTHS ENDED MARCH 31, 2021$33,167 589,302 
(1) Data presented is as of the quarter end prior to the sale date.
(2) ABR PSF excludes the GLA of lessee-owned leasehold improvements.
(3) Major tenants exclude non-owned major tenants.
(4) Represents partial sale of property. Data presented reflects only the portion of property sold.

Supplemental Disclosure - Three Months Ended March 31, 2021Page 20
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ANCHOR SPACE REPOSITIONING SUMMARY
Dollars in thousands
Property NameMSADescription
IN PROCESS ANCHOR SPACE REPOSITIONINGS
New Projects Added To In Process Pipeline During The Three Months Ended March 31, 2021
Hampton Village CentreDetroit-Warren-Dearborn, MIRemerchandise former Best Buy with a 41K SF grocer and additional retailers
Hamilton PlazaTrenton-Princeton, NJRemerchandise former Kmart with a 21K SF Grocery Outlet, a 16K SF Rothman Orthopaedic Institute, a 10K SF Dollar Tree and additional retailers
Wendover PlaceGreensboro-High Point, NCRemerchandise former Pier 1 with a 10K SF Ulta
In Process Projects
Springdale - Phase IIIMobile, ALRemerchandise former Burlington Stores (relocated within center) with a 46K SF Conn's HomePlus, a 27K SF Crunch fitness and additional retailers
Gateway Plaza - VallejoVallejo, CARemerchandise former Toys"R"Us with a 45K SF LA Fitness
Aurora PlazaDenver-Aurora-Lakewood, COCombine former Gen-X and Techno Rescue for a 48K SF Chuze Fitness
North Dover CenterDover, DERemerchandise former Toys"R"Us with a 33K SF Bob's Discount Furniture
Coastal Way - Coastal LandingTampa-St. Petersburg-Clearwater, FLRemerchandise former hhgregg with a 22K SF HomeGoods
Annex of ArlingtonChicago-Naperville-Elgin, IL-IN-WIRelocate and expand Binny’s Beverage Depot to 34K SF, replacing a former hhgregg and remerchandise former Binny’s Beverage Depot with additional retailers
10 Market CentreElkhart-Goshen, INRemerchandise former Sam's Club with a 40K SF Burlington Stores and a 23K SF Ross Dress for Less
11 Lynn MarketplaceBoston-Cambridge-Newton, MA-NHRemerchandise former Shaw’s with a 23K SF Stop And Compare grocer, a 22K SF junior anchor and a 3K SF small shop space
12 Willow Springs PlazaManchester-Nashua, NHRemerchandise former JCPenney with a 27K SF Patel Brothers grocer
13 College PlazaNew York-Newark-Jersey City, NY-NJ-PARemerchandise former Bob’s Stores with a 31K SF Wren Kitchens
14 Suffolk PlazaNew York-Newark-Jersey City, NY-NJ-PARemerchandise former A&P with a 43K SF grocer and a 14K SF Five Below
15 Florence Plaza - Florence Square - Project ICincinnati, OH-KY-INRightsize existing T.J.Maxx / HomeGoods combo store to 48K SF to accommodate an additional junior anchor
16 Crossroads Centre - PasadenaHouston-The Woodlands-Sugar Land, TXRemerchandise and expand former Sears Outlet with a 34K SF LA Fitness and additional small shop space
17 Southland Shopping CenterCleveland-Elyria, OHRemerchandise former Aspire Fitness with a 29K SF UFC Gym
18 Dickson City CrossingsScranton--Wilkes-Barre, PARemerchandise former Dick's Sporting Goods with a 41K SF Burlington Stores and an additional junior anchor
19 Northtown PlazaHouston-The Woodlands-Sugar Land, TXRemerchandise remaining 23K SF portion of the former Fallas Paredes with a Crazy Boss Big Discount Store
20 Windvale CenterHouston-The Woodlands-Sugar Land, TXRemerchandise former Randalls with a 57K SF Star Cinema Grille
Number of ProjectsNet Estimated Costs (1)Gross Costs to DateExpected NOI Yield (1)
Total In Process20 $98,900 $52,000 9% - 14%
STABILIZED ANCHOR SPACE REPOSITIONINGS
Projects Stabilized During The Three Months Ended March 31, 2021
Marketplace @ 42Minneapolis-St. Paul-Bloomington, MN-WIRemerchandise and expand former Famous Footwear with a 10K SF Dollar Tree
Sun Ray Shopping CenterMinneapolis-St. Paul-Bloomington, MN-WICombine several small shop spaces for a 19K SF BioLife Plasma Services
Valley CrossingHickory-Lenoir-Morganton, NCRemerchandise former Fallas with a 17K SF American Freight Furniture
Warminster Towne CenterPhiladelphia-Camden-Wilmington, PA-NJ-DE-MDRemerchandise former Modell's Sporting Goods with a 17K SF Harbor Freight Tools
Number of Projects
Net Project
Costs (1)
NOI Yield (1)
Total Stabilized4 $1,500 37 %
(1) Represents gross project costs less any project specific credits (lease termination fees or other ancillary credits).
Due to COVID-19, there is inherent uncertainty as it relates to the Company's anchor space repositioning projects, specifically with respect to expected project scopes, expected stabilization dates and expected NOI yields.
The in process projects listed above are actively underway and reflect projects for which leases have been signed with the tenant(s) listed in the project descriptions. There is no guarantee that the Company will complete any or all of these projects or that
the net estimated costs or expected NOI yields will be the amounts shown. The net estimated costs and expected NOI yields are management's best estimates based on current information and may change over time. For more information, please refer to
the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2020.
Supplemental Disclosure - Three Months Ended March 31, 2021Page 21
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OUTPARCEL DEVELOPMENT SUMMARY
Dollars in thousands
 Net Gross
Stabilization Estimated CostsExpected
Property NameMSAProject DescriptionQuarter Costs (1) to DateNOI Yield (1)
IN PROCESS OUTPARCEL DEVELOPMENTS
New Projects Added To In Process Pipeline During The Three Months Ended March 31, 2021
1West Loop Shopping CenterManhattan, KSConstruction of a 4K SF Tommy's Car Wash and 1K SF Scooter's CoffeeSep-21$150 $100 29 %
2Bethel Park PlazaPittsburgh, PAConstruction of a 4K SF Chase BankDec-21600 300 13 %
3County Line Plaza (2)Philadelphia-Camden-Wilmington, PA-NJ-DE-MDConstruction of a 3K SF American Family Care and a 2K SF ChipotleMar-22400 350 13 %
In Process Projects
4Hamilton PlazaTrenton-Princeton, NJConstruction of a 6K SF multi-tenant outparcel, including a 4K SF American Family Care and a 2K SF StarbucksSep-212,700 2,500 %
5Brentwood PlazaCincinnati, OH-KY-INConstruction of a 2K SF Bank of AmericaSep-21100 100 85 %
6Watson Glen Shopping CenterNashville-Davidson--Murfreesboro--Franklin, TNConstruction of a 2K SF Chase BankSep-21100 50 27 %
7Rose PavilionSan Francisco-Oakland-Berkeley, CAConstruction of a 2K SF Taco BellDec-21200 50 28 %
8Market CentreElkhart-Goshen, INConstruction of a 10K SF multi-tenant outparcel, including a 5K SF Panera, a 2K SF GNC and a 1K SF Cricket WirelessDec-213,050 2,650 %
9Westgate PlazaSpringfield, MAConstruction of a 20K SF Aldi endcapDec-211,350 500 %
10Whitemarsh Shopping CenterPhiladelphia-Camden-Wilmington, PA-NJ-DE-MDConstruction of a 9K SF multi-tenant outparcel, including a 3K SF American Family Care and a 3K SF Orangetheory FitnessDec-214,750 4,300 %
11The Commons at WolfcreekMemphis, TN-MS-ARRelocation of Chick-fil-A to an existing 4K SF outparcel to accommodate construction of a multi-tenant outparcel including a 4K SF Aspen Dental and a 3K SF Sleep NumberDec-212,800 700 21 %
12Plaza by the SeaLos Angeles-Long Beach-Anaheim, CAConstruction of a 4K SF multi-tenant outparcel, including a 2K SF Plant Power Fast Food and a 2K SF Handel's Homemade Ice CreamMar-222,900 200 %
13Capitol Shopping CenterConcord, NHConstruction of a 6K SF 110 GrillMar-221,150 200 %
14Dalewood I, II & III Shopping CenterNew York-Newark-Jersey City, NY-NJ-PAConstruction of a 5K SF multi-tenant outparcel, including a 3K SF Shake ShackMar-222,850 2,700 15 %
15Tri-City PlazaBoston-Cambridge-Newton, MA-NHConstruction of a 4K SF Aspen DentalJun-221,650 150 %
16Nesconset Shopping CenterNew York-Newark-Jersey City, NY-NJ-PAConstruction of a 7K SF multi-tenant outparcel, including a 4K SF Aspen Dental and a 3K SF Bethpage Federal Credit Union (re-located from within the center)Jun-224,750 750 %
TOTAL IN PROCESS OUTPARCEL DEVELOPMENT ACTIVITIES / WEIGHTED AVERAGE$29,500 $15,600 11 %
StabilizationNet Project
Property NameMSAProject DescriptionQuarter Costs (1,3)NOI Yield (1,3)
STABILIZED OUTPARCEL DEVELOPMENTS
Projects Stabilized During The Three Months Ended March 31, 2021
1Arapahoe CrossingDenver-Aurora-Lakewood, COConstruction of a 4K SF Bank of AmericaMar-21$400 49 %
2Westwind PlazaMinneapolis-St. Paul-Bloomington, MN-WIConstruction of a 4K SF Chase BankMar-211,050 14 %
3Rockland PlazaNew York-Newark-Jersey City, NY-NJ-PAConstruction of a 5K SF multi-tenant outparcel, including a 3K SF Shake Shack and a 2K SF ChipotleMar-214,400 %
4Brice Park (4)Columbus, OHConstruction of an 11K SF SheetzMar-21100 161 %
5Park Hills PlazaAltoona, PAConstruction of a 10K SF multi-tenant outparcel, including a 3K SF Sleep Number, a 2K SF Kay Jewelers, a 2K SF Starbucks, a 1K SF Lettuce Bowl Café and a 1K SF Sports ClipsMar-213,900 %
6Tuckernuck SquareRichmond, VAConstruction of a 2K SF StarbucksMar-211,450 %
TOTAL STABILIZED OUTPARCEL DEVELOPMENT ACTIVITIES / WEIGHTED AVERAGE$11,300 12 %
(1) Represents gross project costs less any project specific credits (lease termination fees or other ancillary credits).
(2) Net project costs exclude $1.8 million of project specific credits (lease termination fees or other ancillary credits).
(3) Net project costs and NOI yields may vary from those previously disclosed due to final project reconciliations.
(4) Project commenced and stabilized during the three months ended March 31, 2021.
Due to COVID-19, there is inherent uncertainty as it relates to the Company's outparcel development projects, specifically with respect to expected project scopes, expected stabilization dates and expected NOI yields.
The in process projects listed above are actively underway and reflect projects for which leases have been signed with the tenant(s) listed in the project descriptions. There is no guarantee that the Company will complete any or all of these projects, that the
net estimated costs or expected NOI yields will be the amounts shown or that stabilization will occur as anticipated. The net estimated costs, expected NOI yields and anticipated stabilization dates are management's best estimates based on current
information and may change over time. For more information, please refer to the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2020.
Supplemental Disclosure - Three Months Ended March 31, 2021Page 22
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REDEVELOPMENT SUMMARY
Dollars in thousands
NetGrossExpected
PropertyStabilizationEstimatedCostsNOI
Property NameMSAProject DescriptionAcreageQuarterCosts (1)to DateYield (1)
IN PROCESS REDEVELOPMENTS
New Projects Added To In Process Pipeline During The Three Months Ended March 31, 2021
Fox Run Shopping CenterWashington-Arlington-Alexandria, DC-VA-MD-WVRedevelopment of former Kmart with a 19K SF Planet Fitness, an 18K SF additional junior anchor, a 10K SF Ulta, a 9K SF Five Below and additional retailers; construction of two stand-alone outparcel buildings and one multi-tenant building; and shopping center upgrades including new pylon signage, landscaping and parking enhancements30Jun-22$15,600 $8,350 %
In Process Projects
Roseville CenterMinneapolis-St. Paul-Bloomington, MN-WIDemolish 26K SF of retail space to accommodate a 22K SF ALDI; reconfigure remaining underutilized small shop space; and shopping center upgrades including façade renovations, parking lot reconfiguration and common area enhancements6Sep-216,850 6,400 %
Laurel SquareNew York-Newark-Jersey City, NY-NJ-PARedevelopment of former Pathmark to accommodate a 30K SF Corrado’s Market and additional retail space; combine small shop spaces for a 10K SF Dollar Tree; upgrade and remerchandise existing outparcel building; and shopping center upgrades including façade renovations, parking lot enhancements and pylon sign upgrades31Sep-2112,550 4,500 10 %
Western Hills PlazaCincinnati, OH-KY-INDemolish former Sears to accommodate construction of a 15K SF Old Navy, an 11K SF Ulta, a 4K SF Spectrum and additional retailers; construction of a multi-tenant outparcel building; and shopping center upgrades including façade renovations, new pylon signage, landscaping and parking enhancements33Sep-2114,200 10,650 11 %
Cudahy PlazaLos Angeles-Long Beach-Anaheim, CARedevelopment of former Kmart with a 40K SF Chuze Fitness, a 25K SF Burlington Stores, and additional retailers; and shopping center upgrades including façade renovations and new pylon signage9Dec-2116,800 15,450 %
Freedom SquareNaples-Marco Island, FLRemerchandise former Kmart with a 35K SF Burlington Stores, a 30K SF HomeGoods, a 20K SF Planet Fitness and additional small shop space; shopping center upgrades including façade renovations and landscaping22Dec-2111,500 3,200 11 %
Village at NewtownPhiladelphia-Camden-Wilmington, PA-NJ-DE-MDExpansion and renovation of center including 60K SF of new construction, including a 10K SF Ulta; remerchandise existing small shop retail; and shopping center upgrades including façade, common areas and infrastructure enhancements30Dec-2139,150 35,450 %
Jones PlazaHouston-The Woodlands-Sugar Land, TXRelocation and expansion of existing Aaron's to 14K SF to accommodate a 15K SF La Michoacana Meat Market grocer; and shopping center upgrades including façade renovations9Dec-212,400 1,100 12 %
Venice VillageNorth Port-Sarasota-Bradenton, FLDemolish and rebuild 30-year old 42K SF Publix with a 48K SF Publix prototype; right-size small shop GLA by 3K SF; shopping center upgrades include façade, landscaping and parking enhancements; and sustainable features including LED lighting18Mar-229,450 1,100 10 %
10 Jester VillageHouston-The Woodlands-Sugar Land, TXRecapture and redevelopment of former H-E-B and adjacent junior anchor vacancy with a 37K SF fitness use tenant and additional retailers; and shopping center upgrades including façade and parking lot renovations5Mar-229,400 7,400 %
11 Tinley Park Plaza (2)Chicago-Naperville-Elgin, IL-IN-WIDemolish 80K SF of structurally obsolescent anchor space to accommodate construction of a 38K SF grocer, a 25K SF Burlington Stores and additional retailers; renovate and remerchandise 13K SF of retail space; and shopping center upgrades including façade and parking lot renovations, and new pylon signs, landscaping and irrigation22Jun-2220,350 6,750 13 %
12 Wynnewood Village - Phase IIIDallas-Fort Worth-Arlington, TXRelocation and expansion of existing Gambro Healthcare to 14K SF and Mi Doctor to 12K SF; remerchandise existing space with a 15K SF Kid's Empire and a 12K SF Five Below; and shopping center upgrades including façade renovations and parking enhancements65Jun-227,450 3,150 %
13 Braes HeightsHouston-The Woodlands-Sugar Land, TXExpansion of existing My Salon Suite to 14K SF; remerchandise shopping center with new relevant retailers; shopping center upgrades including full center façade renovation, parking reconfiguration, pylon sign improvements and new landscaping6Jun-226,450 5,950 %
14 Village at Mira Mesa - Phase IISan Diego-Chula Vista-Carlsbad, CARaze existing Firestone and 16K SF of outparcel buildings to accommodate construction of three retail and restaurant outparcels totaling 24K SF, including a 4K SF Mo-Mo-Paradise, a 4K SF Time Warner, a 2K SF Sunmerry Bakery and additional small shop space36Sep-2212,700 4,600 %
15 Stewart PlazaNew York-Newark-Jersey City, NY-NJ-PARedevelopment and rightsize existing Burlington Stores to 64K SF to accommodate addition of a 75K SF Floor & Décor; remerchandise additional small shop space with new relevant retailers; and shopping center upgrades including façade renovations, parking lot and pylon sign enhancements13Sep-2215,150 3,200 10 %
Supplemental Disclosure - Three Months Ended March 31, 2021Page 23
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REDEVELOPMENT SUMMARY
Dollars in thousands
NetGrossExpected
PropertyStabilizationEstimatedCostsNOI
Property NameMSAProject DescriptionAcreageQuarterCosts (1)to DateYield (1)
16 Westminster City CenterDenver-Aurora-Lakewood, CORelocation and expansion of existing Golf Galaxy to 43K SF in former Babies"R"Us location; backfill of former Golf Galaxy with an entertainment user; remerchandise former Dress Barn with a 9K SF Five Below; addition of a 6K SF Seo's Martial Arts; redevelopment of former Gordmans with junior anchor retailers; and remerchandise existing outparcels with a 6K SF Sola Salon Suites and a 6K SF Hook & Reel27Dec-2212,250 5,150 %
17 Speedway Super Center - Phase IIIndianapolis-Carmel-Anderson, INRedevelopment and rightsize existing Kohl's to 60K SF to accommodate additional retailers; combine small shop spaces for a 12K SF Department of Motor Vehicles; and shopping center upgrades including façade renovations and parking lot and lighting enhancements66Dec-227,900 3,600 10 %
18 Old Bridge GatewayNew York-Newark-Jersey City, NY-NJ-PARedevelopment of former Modell's Sporting Goods and adjacent retail space with a 38K SF grocer; lease-up of additional small shop space; and shopping center upgrades including façade renovations, landscaping and parking lot reconfiguration23Dec-2210,850 2,300 %
19 Marco Town CenterNaples-Marco Island, FLRemerchandise existing small shop spaces and extensive shopping center upgrades including façade, landscaping, lighting and signage enhancements, parking lot reconfiguration and common area improvements including addition of outdoor dining patios and gathering areas10Sep-2310,400 6,750 10 %
20 Pointe Orlando - Phase IOrlando-Kissimmee-Sanford, FLRemerchandise existing small shop retail with relevant retailers including an 11K SF Hampton Social and a 4K SF Hopdoddy Burger Bar; rebranding and reconfiguration of the center; and extensive shopping center upgrades including façade, landscaping and lighting upgrades and common area enhancements including public seating areas, addition of digital directories and kiosks and improved pedestrian plazas17Dec-2332,900 21,150 %
21 Wynnewood Village - Phase IVDallas-Fort Worth-Arlington, TXGround-up construction of a large-format retail use65Dec-236,500 1,250 %
TOTAL IN PROCESS REDEVELOPMENT ACTIVITIES / WEIGHTED AVERAGE$280,800 $157,450 %
PropertyStabilizationNet ProjectNOI
Property NameMSAProject DescriptionAcreageQuarter Costs (1,3)Yield (1,3)
STABILIZED REDEVELOPMENTS
Projects Stabilized During The Three Months Ended March 31, 2021
Collegetown Shopping CenterPhiladelphia-Camden-Wilmington, PA-NJ-DE-MDRedevelopment of former Kmart with a 40K SF Big Lots, a 25K SF LIDL and a 22K SF Ross Dress for Less; construction of multiple outparcel buildings; and shopping center upgrades including façade renovations, parking reconfiguration, and pylon sign and lighting enhancements23Mar-21$15,550 %
TOTAL STABILIZED REDEVELOPMENT ACTIVITIES / WEIGHTED AVERAGE$15,550 %
(1) Represents gross project costs less any project specific credits (lease termination fees or other ancillary credits).
(2) Expected NOI yield includes amounts anticipated to be received as part of an executed tax increment financing (TIF) agreement, which may not materialize until after the expected stabilization date.
(3) Net project costs and NOI yields may vary from those previously disclosed due to final project reconciliations.
Due to COVID-19, there is inherent uncertainty as it relates to the Company's redevelopment projects, specifically with respect to expected project scopes, expected stabilization dates and expected NOI yields.
The in process projects listed above are actively underway and reflect projects for which leases have been signed with the tenant(s) listed in the project descriptions. There is no guarantee that the Company will complete any or all of these projects, that the
net estimated costs or expected NOI yields will be the amounts shown or that stabilization will occur as anticipated. The net estimated costs, expected NOI yields and anticipated stabilization dates are management's best estimates based on current
information and may change over time. For more information, please refer to the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2020.
Supplemental Disclosure - Three Months Ended March 31, 2021Page 24
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FUTURE REDEVELOPMENT OPPORTUNITIES
Property NameMSAProject Description
MAJOR REDEVELOPMENTS
University MallSacramento--Roseville--Arden-Arcade, CAExtensive repositioning and reconfiguration with experiential retailers, densification of site, potential residential component
Village at Mira Mesa - Phase IIISan Diego-Carlsbad, CARedevelopment of existing anchor space for multiple retailers and potential residential rental component
Superior MarketplaceBoulder, CORedevelopment and repositioning of shopping center with multiple retailers, restaurants and/or multi-family or hospitality users
Mall at 163rd StreetMiami-Fort Lauderdale-West Palm Beach, FLExtensive redevelopment and repositioning of shopping center, densification of site, reconfiguration of existing retail space
Shops at Palm LakesMiami-Fort Lauderdale-West Palm Beach, FLRedevelopment of existing anchor space for multiple retailers and/or entertainment users, potential outparcel development
Pointe Orlando - Phase IIOrlando-Kissimmee-Sanford, FLRedevelopment, densification and rebranding for multiple retailers, hospitality, and/or entertainment users
Arborland CenterAnn Arbor, MIRedevelopment and repositioning of shopping center, densification of site
Richfield HubMinneapolis-St. Paul-Bloomington, MN-WIRedevelopment and repositioning of shopping center, densification of site
Kings Park PlazaNew York-Newark-Jersey City, NY-NJ-PARedevelopment of shopping center to leverage proximity to area transit, remerchandise with multiple retailers, potential multi-family component
10 Rockland Plaza (1)New York-Newark-Jersey City, NY-NJ-PAExtensive redevelopment and repositioning of shopping center, multiple outparcel developments
11 Three Village Shopping CenterNew York-Newark-Jersey City, NY-NJ-PARedevelopment of shopping center to leverage proximity to area transit, remerchandise with multiple retailers, potential multi-family component
12 Plymouth Square Shopping CenterPhiladelphia-Camden-Wilmington, PA-NJ-DE-MDRedevelopment and remerchandising of shopping center, reconfigure and repurpose underutilized space with office users
13 Roosevelt Mall - Future PhasesPhiladelphia-Camden-Wilmington, PA-NJ-DE-MDExtensive repositioning and reconfiguration, densification of site
14 Market PlazaDallas-Fort Worth-Arlington, TXExtensive redevelopment and repositioning of shopping center, remerchandise with multiple retailers
15 Preston Park VillageDallas-Fort Worth-Arlington, TXRepurpose, assemble and reposition for national retail merchandise mix, densification of site, enhancement of common areas
16 Wynnewood Village - Future PhasesDallas-Fort Worth-Arlington, TXRedevelopment and repositioning of shopping center, densification of site
MINOR REDEVELOPMENTS
Springdale - Phase IVMobile, ALDensification of site, including a multi-tenant outparcel development
Venetian Isle Shopping CenterMiami-Fort Lauderdale-West Palm Beach, FLRedevelopment of existing anchor space for new anchor prototype, potential outparcel development
Venice Shopping CenterNorth Port-Sarasota-Bradenton, FLRedevelopment of existing anchor space for new anchor prototype, potential outparcel development
Downtown PublixPort St. Lucie, FLDensification of site, including outparcel development
East Port PlazaPort St. Lucie, FLRedevelopment of existing anchor space for new anchor prototype
Tyrone Gardens (1)Tampa-St. Petersburg-Clearwater, FLRedevelopment of center including demolition of existing space to accommodate fitness facility, renovation of façades and common area upgrades
Mansell CrossingAtlanta-Sandy Springs-Roswell, GADensification of site, including multi-tenant outparcel development
The Village at MabletonAtlanta-Sandy Springs-Roswell, GARedevelopment of existing anchor space for multiple retailers
Northside (1)Dalton, GAAnchor repositioning which may include site densification with addition of outparcel pad development
10 Westridge Court - Project 1Chicago-Naperville-Elgin, IL-IN-WIRedevelopment of existing anchor space, adjacent retail space, densification of site and façade renovation
11 Westridge Court - Project 2 (1)Chicago-Naperville-Elgin, IL-IN-WIDemolition of underutilized Jr anchor space to accommodate future outparcel single / multi-tenant development
12 WaterTower Plaza (1)Worcester, MA-CTReposition of former anchor with major grocery tenant and spec space
13 Capitol Shopping CenterConcord, NHRedevelopment of existing anchor space for multiple retailers
14 Dalewood I, II & III Shopping CenterNew York-Newark-Jersey City, NY-NJ-PARemerchandise with relevant uses, façade renovation and enhancement of common areas
15 Middletown Plaza (1)New York-Newark-Jersey City, NY-NJ-PAReposition of former anchor outparcel development and peripheral façade renovation
16 Morris Hills Shopping Center (1)New York-Newark-Jersey City, NY-NJ-PADensification of site, including multi-tenant outparcel development, potential multi-family component
17 Bristol ParkPhiladelphia-Camden-Wilmington, PA-NJ-DE-MDRedevelopment of existing anchor space, inline shop space and façade renovation
18 Valley Fair (1)Philadelphia-Camden-Wilmington, PA-NJ-DE-MDReposition of anchor and façade renovation on remaining center
19 Hillcrest Market PlaceSpartanburg, SCRedevelopment of existing anchor space for multiple retailers, potential outparcel development, enhancement of common areas
20 Kessler PlazaDallas-Fort Worth-Arlington, TXRemerchandise former discount grocer with multiple retailers and potential multiple use redevelopment
(1) Indicates project added to the pipeline during the three months ended March 31, 2021
The Company has identified potential future reinvestment opportunities at the properties listed above. Many of these opportunities are, or will soon be, in preliminary planning phases and as such, may not ultimately become active reinvestments. Proceeding
with these reinvestments could be subject to factors outside of the Company’s control which could delay, suspend or defer the expected opportunity or timing of execution. While the Company believes that these projects are likely to become active in the
near-term, it should be noted that this list will fluctuate as projects become active, or are suspended or otherwise rescheduled. For more information, please refer to the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended
December 31, 2020.
Supplemental Disclosure - Three Months Ended March 31, 2021Page 25
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>PORTFOLIO SUMMARY
Supplemental Disclosure
Three Months Ended March 31, 2021




PORTFOLIO OVERVIEW
Dollars in thousands, except per square foot amounts


As of:
3/31/2112/31/209/30/206/30/203/31/20
Number of properties389 393 395 398 400 
GLA68,278,376 68,852,305 69,391,717 69,942,365 70,142,984 
Percent billed87.8%87.8%88.0%88.9%89.1%
Percent leased90.8%90.7%91.2%92.1%92.2%
TOTAL ≥ 10,000 SF93.8%93.8%94.4%95.1%95.4%
TOTAL < 10,000 SF84.2%83.8%84.3%85.2%85.1%
ABR$           875,388 $           875,925 $           882,718 $           892,337 $           894,355 
ABR PSF$               15.05 $               14.93 $               14.86 $               14.83 $               14.80 
PORTFOLIO BY UNIT SIZE AS OF 3/31/21
Number of
Units
GLAPercent of GLAPercent BilledPercent Leased ABRABR PSF
≥ 35,000 SF438 25,087,410 36.7%93.1%95.4%$           222,337 $               10.51 
20,000 - 34,999 SF508 13,343,946 19.5%89.5%93.0%136,019 11.09 
10,000 - 19,999 SF629 8,637,684 12.7%86.9%90.2%109,427 14.43 
5,000 - 9,999 SF1,136 7,830,570 11.5%82.0%84.8%116,848 18.42 
< 5,000 SF6,317 13,378,766 19.6%79.9%83.8%290,757 26.83 
TOTAL9,028 68,278,376 100.0%87.8%90.8%$           875,388 $               15.05 
TOTAL ≥ 10,000 SF1,575 47,069,040 68.9%90.9%93.8%$           467,783 $               11.41 
TOTAL < 10,000 SF7,453 21,209,336 31.1%80.7%84.2%407,605 23.73 
Reflects portfolio statistics as reported for the specified period.

Supplemental Disclosure - Three Months Ended March 31, 2021Page 27
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PORTFOLIO COMPOSITION
ESSENTIAL, HYBRID AND OTHER RETAIL / SERVICES
Percent of Portfolio Leased GLA
chart-13fdcf7712624b99abc1a.jpg

NATIONAL / REGIONAL AND LOCAL TENANTS (1)
Percent of Portfolio Leased GLA

chart-7a0b9772e2134859aca1a.jpg



ANCHOR AND SMALL SHOP TENANTS
Percent of Portfolio Leased GLA
chart-e2cb5a2b107745cbab91a.jpg

(1) Franchise locations are categorized as National / Regional.

Percent of Portfolio ABR
chart-93f0e316a2814bc18251a.jpg


Percent of Portfolio ABR
chart-7a58807cc7c44bb8b191a.jpg



Percent of Portfolio ABR

chart-ca292b0863ad499786e1a.jpg



Definitions
Essential:Businesses deemed necessary for day-to-day living
Examples: Grocery, pharmacy, general merchandise (discount)
Hybrid:Businesses deemed necessary for day-to-day living, but operating in a moderated capacity, and businesses deemed necessary for day-to-day living in many, but not all jurisdictions
Examples: Restaurants, medical offices, electronics
Other Retail / Services:Businesses deemed non-essential for day-to-day living
Examples: Apparel, fitness, entertainment
Definitions
National /
Regional:
Multi-state operators or single-state operators with 20 or more locations; state agencies and government offices
Local:Single-state operators with fewer than 20 locations


95.8% of 1Q21 billed base rent collected for National / Regional tenants and 88.2% of 1Q21 billed base rent collected for Local tenants as of 4/27/21

95.6% of 1Q21 billed base rent collected for Anchor tenants and 92.7% of 1Q21 billed base rent collected for Small Shop tenants as of 4/27/21
Supplemental Disclosure - Three Months Ended March 31, 2021Page 28
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MERCHANDISE MIX COMPOSITION
Dollars in thousands
Essential = 34% of ABRHybrid = 25% of ABROther Retail / Services = 41% of ABR
Essential / Hybrid = 59% of ABR
~70% of shopping centers are grocery-anchored
As of 4/27/21
Merchandise Mix ABRPercent of ABRPercent of 2Q20 Billed Base Rent CollectedPercent of 3Q20 Billed Base Rent CollectedPercent of 4Q20 Billed Base Rent CollectedPercent of 1Q21 Billed Base Rent Collected
ESSENTIAL$293,990 34 %99.3 %99.2 %99.4 %99.1 %
Grocery / Pharmacy138,844 16 %99.8 %99.6 %99.9 %99.7 %
General Merchandise (Discount / Dollar)33,671 %99.1 %99.4 %99.6 %99.5 %
Financial services24,853 %99.8 %99.5 %99.4 %99.8 %
Pet23,646 %98.9 %99.5 %99.5 %98.3 %
Medical (essential)21,228 %98.8 %98.8 %99.3 %98.3 %
Mail / Shipping and Other services14,558 %94.2 %91.8 %92.5 %92.6 %
Home improvement14,469 %98.9 %99.8 %99.7 %99.8 %
Other Essential13,218 %99.6 %100.0 %100.0 %99.5 %
Auto9,503 %99.9 %99.9 %99.9 %99.9 %
HYBRID$218,971 25 %88.3 %90.9 %92.2 %92.7 %
Restaurants127,071 14 %83.8 %85.8 %87.7 %88.5 %
Electronics & Appliance28,320 %96.9 %97.8 %97.8 %98.3 %
Medical (hybrid)23,452 %95.8 %97.2 %98.5 %99.2 %
Hobby & Crafts17,613 %89.6 %98.6 %99.3 %98.9 %
Liquor8,678 %99.8 %99.8 %99.2 %98.7 %
Other Hybrid Services7,982 %98.6 %98.6 %99.4 %98.0 %
Other Hybrid Retail5,855 %80.6 %97.5 %96.3 %95.2 %
OTHER RETAIL / SERVICES$362,427 41 %78.3 %86.1 %89.8 %91.1 %
Other Services60,739 %85.2 %90.3 %91.5 %91.5 %
Off-Price Apparel59,191 %94.2 %83.0 %96.1 %99.9 %
Fitness / Sports47,210 %45.6 %70.2 %76.1 %83.2 %
Value Apparel, Shoes, Accessories43,900 %73.4 %92.5 %92.9 %93.8 %
Home Décor39,897 %84.7 %91.5 %97.7 %98.0 %
Other Retail32,872 %80.9 %96.4 %98.8 %98.4 %
General Merchandise (Department, Gift, etc.)32,597 %91.4 %94.3 %96.1 %96.4 %
Health & Beauty24,117 %90.6 %95.3 %94.8 %95.8 %
Entertainment21,904 %38.9 %49.1 %45.0 %38.7 %
TOTAL (1)$875,388 100 %87.9 %91.7 %93.7 %94.2 %
Rent deferrals and abatements (1)7.4 %4.3 %2.8 %1.7 %
Total addressed billed base rent (1)95.3 %96.0 %96.5 %95.9 %
(1) As of April 27, 2021, 91.1% of 2Q20-4Q20 billed base rent had been collected and 4.9% had been addressed through rent deferrals and abatements, resulting in 96.0% total addressed billed base rent.

Supplemental Disclosure - Three Months Ended March 31, 2021Page 29
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TOP FORTY RETAILERS RANKED BY ABR
Dollars in thousands, except per square foot amounts
RetailerOwned Leases (1)Leased GLAPercent of GLAABRPercent of ABR ABR PSF
The TJX Companies, Inc. (2)87 2,642,160 3.9 %$31,060 3.5 %$11.76 
The Kroger Co. (3)49 3,259,371 4.8 %24,593 2.8 %7.55 
Dollar Tree Stores, Inc. (4)125 1,455,108 2.1 %16,134 1.8 %11.09 
Burlington Stores, Inc.30 1,484,189 2.2 %15,553 1.8 %10.48 
Publix Super Markets, Inc.29 1,285,410 1.9 %12,655 1.4 %9.85 
Ross Stores, Inc (5)38 1,014,222 1.5 %12,351 1.4 %12.18 
L.A Fitness International, LLC15 618,290 0.9 %11,355 1.3 %18.37 
Ahold Delhaize (6)20 1,059,637 1.6 %11,273 1.3 %10.64 
Albertson's Companies, Inc (7)14 795,381 1.2 %9,729 1.1 %12.23 
10 PetSmart, Inc.26 587,388 0.9 %8,765 1.0 %14.92 
433 14,201,156 21.0 %153,468 17.4 %10.81 
11 Big Lots, Inc.35 1,150,126 1.7 %8,044 0.9 %6.99 
12 PETCO Animal Supplies, Inc. (8)32 437,078 0.6 %7,798 0.9 %17.84 
13 Kohl's Corporation12 914,585 1.3 %7,253 0.8 %7.93 
14 Ulta Beauty, Inc.27 306,097 0.4 %7,100 0.8 %23.20 
15 Party City Holdco Inc.33 474,729 0.7 %6,937 0.8 %14.61 
16 The Michaels Companies, Inc.24 541,541 0.8 %6,746 0.8 %12.46 
17 Bed Bath & Beyond, Inc. (9)24 591,594 0.9 %6,732 0.8 %11.38 
18 Staples, Inc.24 496,575 0.7 %6,201 0.7 %12.49 
19 Best Buy Co., Inc.12 482,660 0.7 %6,108 0.7 %12.65 
20 Five Below, Inc.35 306,919 0.4 %5,822 0.7 %18.97 
691 19,903,060 29.2 %222,209 25.3 %11.16 
21 Office Depot, Inc. (10)23 502,566 0.7 %5,726 0.7 %11.39 
22 DICK's Sporting Goods, Inc. (11)10 384,141 0.6 %5,126 0.6 %13.34 
23 CVS Health15 222,799 0.3 %4,900 0.6 %21.99 
24 JOANN Stores, Inc.21 415,255 0.6 %4,775 0.5 %11.50 
25 Hobby Lobby Stores, Inc.13 723,967 1.1 %4,752 0.5 %6.56 
26 Wal-Mart Stores, Inc. (12)11 1,194,064 1.7 %4,552 0.5 %3.81 
27 Designer Brands Inc. (DSW)14 268,691 0.4 %4,426 0.5 %16.47 
28 JP Morgan Chase & Co.29 104,843 0.2 %4,333 0.5 %41.33 
29 The Home Depot, Inc.428,868 0.6 %4,136 0.5 %9.64 
30 Gap, Inc. (13)13 215,422 0.3 %4,125 0.5 %19.15 
31 Harbor Freight Tools23 404,095 0.6 %4,018 0.5 %9.94 
32 H.E. Butt Grocery Company (14)243,867 0.4 %3,952 0.5 %16.21 
33 Sally Beauty Holdings, Inc. (15)90 162,005 0.2 %3,674 0.4 %22.68 
34 Southeastern Grocers (16)10 480,523 0.7 %3,554 0.4 %7.40 
35 AMC Entertainment200,955 0.3 %3,541 0.4 %17.62 
36 Wakefern Food Corporation (17)267,832 0.4 %3,522 0.4 %13.15 
37 Rainbow Shops34 252,722 0.4 %3,416 0.4 %13.52 
38 Bank of America, NA24 84,663 0.1 %3,338 0.4 %39.43 
39 Regal Entertainment Group (18)156,549 0.2 %3,223 0.4 %20.59 
40 Giant Eagle, Inc.242,946 0.4 %3,171 0.4 %13.05 
TOTAL TOP 40 RETAILERS1,044 26,859,833 39.4 %$304,469 34.9 %$11.34 
(1) Includes only locations which are owned or guaranteed by the parent company.(7) Includes Vons-4, Acme-2, Jewel-Osco-2, Tom Thumb-2, Albertsons-1, El Rancho (sublease)-1, Shop & Save Market-1 and Star Market-1.(13) Includes Old Navy-11 and Gap Factory-2.
(2) Includes Marshalls-35, T.J. Maxx-35, HomeGoods-15, HomeSense-1 and Sierra Trading Post-1.(14) Includes H-E-B-2 and Central Market-1.
(3) Includes Kroger-37, King Soopers-4, Harris Teeter-2, Ralphs-2, Dillons-1,(8) Includes PETCO-31 and Unleashed-1.(15) Includes Sally Beauty-82, Cosmoprof-7 and Macon Beauty Systems-1.
Food 4 Less-1, Pay Less-1 and Pick 'N Save-1.(9) Includes Bed Bath & Beyond-15, Harmon Face Values-4, Cost Plus World Market (sublease)-2,(16) Includes Winn-Dixie-6, BI-LO-2, Fresco y Más-1 and Harveys-1.
(4) Includes Dollar Tree-109, Family Dollar-15 and Deal$-1. buybuy Baby-2, and Christmas Tree Shops (sublease)-1.(17) Includes ShopRite-3 and PriceRite-2.
(5) Includes Ross Dress for Less-33 and dd's Discounts-5.(10) Includes Office Depot-12 and OfficeMax-11.(18) Includes Regal Cinemas-2 and United Artist Theatres-1.
(6) Includes Giant Food-6, Super Stop & Shop-6, Food Lion-4, Bottom Dollar Food-1, Hannaford-1,(11) Includes DICK'S Sporting Goods-6 and Golf Galaxy-4.
Stop & Shop-1, and Tops Market-1.(12) Includes Supercenters-7, Discount Stores-2, and Walmart Neighborhood Market-2.
Excludes 4 leases that are signed but not commenced and subject to non-disclosure agreements with a retailer aggregating 161,083 SF and $2.8 million of ABR. In combination with commenced leases, the retailer's total GLA and ABR is 243,761 SF and $4.8 million, respectively

Supplemental Disclosure - Three Months Ended March 31, 2021Page 30
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NEW & RENEWAL LEASE SUMMARY
Dollars in thousands, except per square foot amounts

Tenant Improvements and Allowances PSFThird Party Leasing Commissions PSFWeighted Average Lease Term (years)Comparable Only
LeasesGLANew ABRNew ABR PSFLeasesGLANew ABR PSFOld ABR PSFRent Spread
TOTAL - NEW, RENEWAL & OPTION LEASES
Three months ended 3/31/21392 2,130,048 $35,558 $16.69 $4.59 $1.60 5.6 309 1,717,603 $16.94 $15.88 6.7 %
Three months ended 12/31/20346 2,213,791 31,175 14.08 4.28 1.16 5.4 274 1,905,747 13.76 12.81 7.4 %
Three months ended 9/30/20418 3,155,433 44,808 14.20 2.55 1.08 5.7 357 2,628,856 13.96 13.16 6.1 %
Three months ended 6/30/20283 1,841,519 24,846 13.49 2.83 1.01 6.0 235 1,534,332 13.35 12.54 6.5 %
TOTAL - TWELVE MONTHS ENDED 3/31/211,439 9,340,791 $136,387 $14.60 $3.48 $1.20 5.7 1,175 7,786,538 $14.45 $13.55 6.6 %

NEW & RENEWAL LEASES ONLY
Three months ended 3/31/21355 1,409,570 $26,461 $18.77 $6.94 $2.42 6.0 272 997,125 $20.05 $18.73 7.0 %
Three months ended 12/31/20298 1,363,267 22,466 16.48 6.95 1.88 5.6 226 1,055,223 16.60 15.37 8.0 %
Three months ended 9/30/20368 2,152,872 33,432 15.53 3.71 1.58 6.1 307 1,626,295 15.57 14.73 5.7 %
Three months ended 6/30/20241 1,275,855 18,202 14.27 4.09 1.45 6.4 193 968,668 14.29 13.49 5.9 %
TOTAL - TWELVE MONTHS ENDED 3/31/211,262 6,201,564 $100,561 $16.22 $5.23 $1.81 6.0 998 4,647,311 $16.50 $15.48 6.6 %
NEW LEASES
Three months ended 3/31/21140 654,505 $11,164 $17.06 $14.37 $5.16 8.7 60 252,511 $19.18 $15.95 20.3 %
Three months ended 12/31/20138 560,349 9,709 17.33 15.79 4.54 8.0 67 258,887 18.68 15.33 21.9 %
Three months ended 9/30/20103 683,517 11,083 16.22 10.05 4.94 9.7 46 178,742 18.60 16.30 14.1 %
Three months ended 6/30/2075 425,561 5,848 13.74 11.04 4.24 8.6 30 181,711 13.98 11.71 19.4 %
TOTAL - TWELVE MONTHS ENDED 3/31/21456 2,323,932 $37,804 $16.27 $12.83 $4.78 8.8 203 871,851 $17.83 $14.96 19.2 %
RENEWAL LEASES
Three months ended 3/31/21215 755,065 $15,297 $20.26 $0.50 $0.05 3.6 212 744,614 $20.34 $19.67 3.4 %
Three months ended 12/31/20160 802,918 12,757 15.89 0.78 0.02 3.9 159 796,336 15.92 15.38 3.5 %
Three months ended 9/30/20265 1,469,355 22,349 15.21 0.76 0.01 4.4 261 1,447,553 15.19 14.54 4.5 %
Three months ended 6/30/20166 850,294 12,354 14.53 0.61 0.06 5.3 163 786,957 14.36 13.90 3.3 %
TOTAL - TWELVE MONTHS ENDED 3/31/21806 3,877,632 $62,757 $16.18 $0.68 $0.03 4.4 795 3,775,460 $16.19 $15.60 3.8 %
OPTION LEASES
Three months ended 3/31/2137 720,478 $9,097 $12.63 $— $— 5.0 37 720,478 $12.63 $11.93 5.9 %
Three months ended 12/31/2048 850,524 8,709 10.24 — — 4.9 48 850,524 10.24 9.64 6.2 %
Three months ended 9/30/2050 1,002,561 11,376 11.35 0.07 — 5.0 50 1,002,561 11.35 10.60 7.1 %
Three months ended 6/30/2042 565,664 6,644 11.75 — — 5.1 42 565,664 11.75 10.90 7.8 %
TOTAL - TWELVE MONTHS ENDED 3/31/21177 3,139,227 $35,826 $11.41 $0.02 $ 5.0 177 3,139,227 $11.41 $10.70 6.6 %
LEASES BY ANCHOR AND SMALL SHOPThree Months Ended 3/31/21Twelve Months Ended 3/31/21
% of Leases% of GLA% of ABRNew ABR PSFRent Spread (1)% of Leases% of GLA% of ABRNew ABR PSFRent Spread (1)
Anchor Leases (≥ 10,000 SF)
Total - New, Renewal & Option Leases11 %58 %42 %$12.01 4.2 %15 %64 %45 %$10.35 4.9 %
New & Renewal Leases Only%40 %28 %13.00 3.0 %10 %51 %34 %10.75 3.7 %
New Leases11 %49 %34 %11.98 28.8 %11 %54 %37 %11.12 19.8 %
Renewal Leases%33 %23 %14.29 (5.3)%10 %49 %32 %10.51 0.3 %
Option Leases46 %92 %81 %11.17 5.1 %49 %89 %77 %9.89 6.0 %
Small Shop Leases (< 10,000 SF)
Total - New, Renewal & Option Leases89 %42 %58 %$23.10 8.6 %85 %36 %55 %$22.17 8.2 %
New & Renewal Leases Only92 %60 %72 %22.70 8.5 %90 %49 %66 %21.96 8.0 %
New Leases89 %51 %66 %21.92 16.6 %89 %46 %63 %22.42 19.0 %
Renewal Leases94 %67 %77 %23.21 6.4 %90 %51 %68 %21.70 5.5 %
Option Leases54 %%19 %28.74 9.1 %51 %11 %23 %24.06 9.1 %
(1) Comparable leases only.
Excludes leases signed for terms of less than one year.
ABR PSF includes the GLA of lessee-owned leasehold improvements.
Reflects portfolio statistics as reported for the specified period.
Supplemental Disclosure - Three Months Ended March 31, 2021Page 31
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NEW LEASE NET EFFECTIVE RENT & LEASES SIGNED BUT NOT YET COMMENCED
Dollars in thousands, except per square foot amounts
NEW LEASE NET EFFECTIVE RENT
Twelve Months EndedThree Months Ended
3/31/213/31/2112/31/209/30/206/30/203/31/20
NEW LEASES
Weighted average over lease term:
Base rent$ 17.39$ 18.15$ 18.64$ 17.32$ 14.70$ 16.82
Tenant improvements and allowances(1.61)(1.76)(1.97)(1.37)(1.32)(1.90)
Third party leasing commissions(0.51)(0.55)(0.52)(0.49)(0.44)(0.52)
NET EFFECTIVE RENT BEFORE TENANT SPECIFIC LANDLORD WORK15.2715.8416.1515.4612.9414.39
Tenant specific landlord work (1)(0.86)(1.31)(0.92)(0.46)(0.74)(1.47)
NET EFFECTIVE RENT$ 14.41$ 14.53$ 15.23$ 15.00$ 12.20$ 12.92
Net effective rent before tenant specific landlord work /
base rent88%87%87%89%88%86%
Net effective rent / base rent83%80%82%87%83%77%
Weighted average term (years)8.88.78.09.78.69.1
PERCENT OF TOTAL NET EFFECTIVE RENT BY ANCHOR AND SMALL SHOP
≥ 10,000 SF36%32%22%55%27%39%
< 10,000 SF64%68%78%45%73%61%
LEASES SIGNED BUT NOT YET COMMENCED
As of 3/31/21:LeasesGLAABRABR PSF
≥ 10,000 SF581,586,779$ 20,004$ 12.61
< 10,000 SF276813,81020,38525.05
TOTAL3342,400,589$ 40,389$ 16.82
(1) Represents base building costs funded through tenant allowances.
ABR PSF includes the GLA of lessee-owned leasehold improvements.
Reflects portfolio statistics as reported for the specified period.

Supplemental Disclosure - Three Months Ended March 31, 2021Page 32
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LEASE EXPIRATION SCHEDULE
ASSUMES NO EXERCISE OF RENEWAL OPTIONS
TOTAL PORTFOLIO
SPACES ≥ 10,000 SF
SPACES < 10,000 SF
Number% of% ofABR PSFNumber% of% ofABR PSFNumber% of% ofABR PSF
ofLeasedLeasedIn-PlaceIn-placeatofLeasedLeasedIn-PlaceIn-placeatofLeasedLeasedIn-PlaceIn-placeat
LeasesGLAGLAABRABR PSFExpirationLeasesGLAGLAABRABR PSFExpirationLeasesGLAGLAABRABR PSFExpiration
M-M303 754,510 1.2 %1.4 %$16.68 $16.68 64,795 0.1 %0.2 %$11.14 $11.14 298 689,715 3.9 %2.9 %$17.20 $17.20 
2021759 4,012,820 6.5 %6.0 %13.16 13.16 71 2,251,188 5.1 %4.0 %8.37 8.37 688 1,761,632 9.9 %8.3 %19.29 19.29 
20221,212 8,158,504 13.2 %12.6 %13.54 13.58 195 5,448,401 12.4 %11.3 %9.74 9.69 1,017 2,710,103 15.2 %14.1 %21.17 21.39 
20231,094 7,111,916 11.5 %11.7 %14.35 14.55 174 4,738,834 10.7 %10.2 %10.10 10.13 920 2,373,082 13.3 %13.3 %22.83 23.39 
20241,055 9,038,980 14.6 %13.2 %12.77 13.03 192 6,712,553 15.2 %13.6 %9.49 9.52 863 2,326,427 13.0 %12.7 %22.23 23.19 
2025857 7,409,781 12.0 %11.5 %13.62 13.92 172 5,375,827 12.2 %11.9 %10.35 10.38 685 2,033,954 11.4 %11.1 %22.27 23.29 
2026651 6,355,187 10.2 %9.9 %13.65 14.36 167 4,910,559 11.1 %11.2 %10.63 10.87 484 1,444,628 8.1 %8.5 %23.90 26.23 
2027380 3,541,475 5.7 %6.2 %15.41 16.92 81 2,521,503 5.7 %6.6 %12.18 13.08 299 1,019,972 5.7 %5.8 %23.38 26.40 
2028322 2,784,394 4.5 %5.1 %16.19 17.81 69 1,956,720 4.4 %4.9 %11.73 12.44 253 827,674 4.6 %5.4 %26.72 30.51 
2029347 3,796,002 6.1 %6.4 %14.70 16.29 102 2,981,046 6.8 %7.4 %11.54 12.49 245 814,956 4.6 %5.3 %26.26 30.16 
2030287 2,939,810 4.7 %5.0 %14.76 16.29 71 2,197,901 5.0 %5.0 %10.71 11.41 216 741,909 4.1 %4.9 %26.78 30.77 
2031+466 6,100,505 9.8 %11.0 %15.66 18.15 155 4,990,755 11.3 %13.7 %12.83 14.56 311 1,109,750 6.2 %7.7 %28.37 34.26 
ASSUMES EXERCISE OF ALL RENEWAL OPTIONS (1)
TOTAL PORTFOLIO
SPACES ≥ 10,000 SF
SPACES < 10,000 SF
Number% of% ofABR PSFNumber% of% ofABR PSFNumber% of% ofABR PSF
ofLeasedLeasedIn-PlaceIn-placeatofLeasedLeasedIn-PlaceIn-placeatofLeasedLeasedIn-PlaceIn-placeat
LeasesGLAGLAABRABR PSFExpirationLeasesGLAGLAABRABR PSFExpirationLeasesGLAGLAABRABR PSFExpiration
M-M303 754,510 1.2 %1.4 %$16.68 $16.68 64,795 0.1 %0.2 %$11.14 $11.14 298 689,715 3.9 %2.9 %$17.20 $17.20 
2021641 2,521,733 4.1 %4.1 %14.06 14.06 40 1,060,814 2.4 %1.8 %7.73 7.73 601 1,460,919 8.2 %6.7 %18.66 18.66 
2022902 3,359,850 5.4 %6.4 %16.61 16.67 65 1,336,183 3.0 %3.0 %10.52 10.29 837 2,023,667 11.3 %10.3 %20.63 20.89 
2023783 2,789,536 4.5 %5.7 %18.00 18.44 55 1,095,489 2.5 %2.4 %10.22 10.29 728 1,694,047 9.5 %9.6 %23.03 23.71 
2024689 2,672,548 4.3 %5.1 %16.82 17.49 44 1,128,921 2.6 %2.4 %10.11 10.18 645 1,543,627 8.6 %8.2 %21.72 22.84 
2025507 2,048,601 3.3 %4.1 %17.61 18.48 36 860,064 1.9 %1.9 %10.54 10.70 471 1,188,537 6.7 %6.6 %22.73 24.11 
2026404 2,057,837 3.3 %3.8 %16.13 17.52 39 1,078,151 2.4 %2.2 %9.54 10.01 365 979,686 5.5 %5.6 %23.38 25.78 
2027346 2,005,703 3.2 %3.8 %16.68 18.62 51 1,098,264 2.5 %2.6 %10.83 11.90 295 907,439 5.1 %5.3 %23.75 26.76 
2028300 1,571,780 2.5 %3.3 %18.17 20.37 33 769,550 1.8 %1.9 %11.68 12.59 267 802,230 4.5 %4.8 %24.39 27.83 
2029285 1,438,768 2.3 %3.0 %18.15 20.65 34 679,975 1.5 %1.7 %11.95 13.27 251 758,793 4.2 %4.4 %23.71 27.26 
2030268 1,769,392 2.9 %3.1 %15.07 17.07 40 1,034,955 2.3 %2.2 %10.02 10.95 228 734,437 4.1 %4.0 %22.20 25.70 
2031+2,305 39,013,626 63.0 %56.2 %12.62 16.19 1,012 33,942,921 77.0 %77.7 %10.71 13.57 1,293 5,070,705 28.4 %31.6 %25.41 33.70 
(1) ABR for leases whose future option rent is based on fair market value or on a percentage change in CPI is reported as the ABR for the last year of the current lease term.
ABR PSF includes the GLA of lessee-owned leasehold improvements.
LEASE RETENTION RATE AT NATURAL EXPIRATION
By CountBy GLA
Twelve Months Ended 3/31/2175.1%78.6%
Supplemental Disclosure - Three Months Ended March 31, 2021Page 33
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PROPERTIES BY LARGEST US MSAs
Dollars in thousands, except per square foot amounts
Percent of
Number ofPercentPercentNumber ofPercentPercent
Largest US MSAs by 2019 PopulationProperties GLABilledLeased ABR ABR PSFPropertiesof GLAof ABR
New York-Newark-Jersey City, NY-NJ-PA26 3,185,056 87.0 %93.2 %$62,795 $21.63 6.7 %4.7 %7.2 %
Los Angeles-Long Beach-Anaheim, CA10 1,706,223 97.0 %98.3 %35,491 23.25 2.6 %2.5 %4.1 %
Chicago-Naperville-Elgin, IL-IN-WI14 3,490,768 76.7 %79.2 %38,291 14.58 3.6 %5.1 %4.4 %
Dallas-Fort Worth-Arlington, TX12 2,515,979 88.0 %89.7 %40,158 18.01 3.1 %3.7 %4.6 %
Houston-The Woodlands-Sugar Land, TX28 3,781,394 89.4 %93.3 %44,753 13.11 7.2 %5.5 %5.1 %
Washington-Arlington-Alexandria, DC-VA-MD-WV461,825 60.3 %74.7 %5,103 15.41 0.8 %0.7 %0.6 %
Miami-Fort Lauderdale-Pompano Beach, FL1,465,717 77.3 %84.7 %19,597 16.01 2.3 %2.1 %2.2 %
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD23 4,209,915 86.8 %89.1 %61,258 18.90 5.9 %6.2 %7.0 %
Atlanta-Sandy Springs-Alpharetta, GA22 3,326,176 86.3 %89.7 %34,842 12.06 5.7 %4.9 %4.0 %
10 Phoenix-Mesa-Chandler, AZ— — — — — — — — 
Top 10 Largest US MSAs by Population147 24,143,053 85.5 %89.1 %342,288 16.79 37.9 %35.4 %39.2 %
11 Boston-Cambridge-Newton, MA-NH724,145 84.2 %89.9 %8,625 13.25 1.5 %1.1 %1.0 %
12 San Francisco-Oakland-Berkeley, CA506,994 98.9 %99.0 %11,790 29.05 0.5 %0.7 %1.3 %
13 Riverside-San Bernardino-Ontario, CA505,679 83.8 %88.7 %8,509 22.03 1.0 %0.7 %1.0 %
14 Detroit-Warren-Dearborn, MI1,431,286 90.1 %90.6 %15,282 12.84 2.1 %2.1 %1.7 %
15 Seattle-Tacoma-Bellevue, WA— — — — — — — — 
16 Minneapolis-St. Paul-Bloomington, MN-WI1,197,284 89.1 %90.5 %14,204 14.34 2.1 %1.8 %1.6 %
17 San Diego-Chula Vista-Carlsbad, CA660,209 94.0 %95.7 %14,462 23.38 0.8 %1.0 %1.7 %
18 Tampa-St. Petersburg-Clearwater, FL11 1,790,291 85.6 %88.1 %24,270 16.07 2.8 %2.6 %2.8 %
19 Denver-Aurora-Lakewood, CO1,316,626 94.0 %97.6 %17,023 14.21 1.5 %1.9 %1.9 %
20 St. Louis, MO-IL209,036 94.0 %95.5 %2,099 10.69 0.5 %0.3 %0.2 %
Top 20 Largest US MSAs by Population197 32,484,603 86.5 %89.9 %458,552 16.66 50.7 %47.6 %52.4 %
21 Baltimore-Columbia-Towson, MD— — — — — — — — 
22 Charlotte-Concord-Gastonia, NC-SC1,576,806 91.7 %92.4 %16,220 12.28 1.5 %2.3 %1.9 %
23 Orlando-Kissimmee-Sanford, FL802,048 84.3 %85.2 %15,472 22.86 1.3 %1.2 %1.8 %
24 San Antonio-New Braunfels, TX— — — — — — — — 
25 Portland-Vancouver-Hillsboro, OR-WA— — — — — — — — 
26 Sacramento-Roseville-Folsom, CA105,531 33.1 %33.1 %1,024 29.33 0.3 %0.2 %0.1 %
27 Pittsburgh, PA202,349 98.4 %100.0 %2,126 11.84 0.3 %0.3 %0.2 %
28 Las Vegas-Henderson-Paradise, NV— — — — — — — — 
29 Austin-Round Rock-Georgetown, TX169,405 96.7 %96.7 %2,100 12.82 0.3 %0.2 %0.2 %
30 Cincinnati, OH-KY-IN1,856,474 93.9 %95.3 %22,921 16.55 1.8 %2.7 %2.6 %
31 Kansas City, MO-KS608,649 94.4 %94.6 %4,793 8.46 1.0 %0.9 %0.5 %
32 Columbus, OH434,804 88.1 %89.7 %3,951 10.84 0.8 %0.6 %0.5 %
33 Indianapolis-Carmel-Anderson, IN726,319 85.2 %88.6 %7,308 11.52 0.5 %1.1 %0.8 %
34 Cleveland-Elyria, OH795,777 80.9 %84.4 %8,710 13.07 0.8 %1.2 %1.0 %
Supplemental Disclosure - Three Months Ended March 31, 2021Page 34
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PROPERTIES BY LARGEST US MSAs
Dollars in thousands, except per square foot amounts
Percent of
Number ofPercentPercentNumber ofPercentPercent
Largest US MSAs by 2019 PopulationProperties GLABilledLeased ABR ABR PSFPropertiesof GLAof ABR
35 San Jose-Sunnyvale-Santa Clara, CA— — — — — — — — 
36 Nashville-Davidson--Murfreesboro--Franklin, TN798,262 96.4 %98.4 %9,484 12.07 1.0 %1.2 %1.1 %
37 Virginia Beach-Norfolk-Newport News, VA-NC150,300 97.7 %97.7 %2,853 21.46 0.3 %0.2 %0.3 %
38 Providence-Warwick, RI-MA— — — — — — — — 
39 Milwaukee-Waukesha, WI566,998 85.6 %86.0 %5,620 11.52 1.0 %0.8 %0.6 %
40 Jacksonville, FL690,355 89.6 %90.3 %6,713 11.20 0.8 %1.0 %0.8 %
41 Oklahoma City, OK— — — — — — — — 
42 Raleigh-Cary, NC291,026 96.2 %98.0 %3,848 13.60 0.5 %0.4 %0.4 %
43 Memphis, TN-MS-AR652,349 92.1 %93.7 %9,494 15.98 0.3 %1.0 %1.1 %
44 Richmond, VA229,840 95.1 %95.6 %3,463 15.75 0.5 %0.3 %0.4 %
45 New Orleans-Metairie, LA— — — — — — — — 
46 Louisville/Jefferson County, KY-IN700,232 92.8 %93.9 %7,157 11.19 1.0 %1.0 %0.8 %
47 Salt Lake City, UT— — — — — — — — 
48 Hartford-East Hartford-Middletown, CT584,167 83.9 %84.0 %8,520 17.35 0.8 %0.9 %1.0 %
49 Buffalo-Cheektowaga, NY— — — — — — — — 
50 Birmingham-Hoover, AL— — — — — — — — 
Top 50 Largest US MSAs by Population254 44,426,294 87.5 %90.3 %600,329 15.90 65.3 %65.1 %68.6 %
MSAs Ranked 51 - 100 by Population48 8,328,486 89.3 %92.4 %95,620 13.14 12.3 %12.2 %10.9 %
Other MSAs87 15,523,596 87.8 %91.5 %179,439 13.65 22.4 %22.7 %20.5 %
TOTAL389 68,278,376 87.8 %90.8 %$875,388 $15.05 100.0 %100.0 %100.0 %



Supplemental Disclosure - Three Months Ended March 31, 2021Page 35
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LARGEST MSAs BY ABR
Dollars in thousands, except per square foot amounts
Percent of
Number ofPercentPercentNumber ofPercentPercent
Largest MSAs by ABRMSA RankProperties GLABilledLeased ABR ABR PSFPropertiesof GLAof ABR
New York-Newark-Jersey City, NY-NJ-PA126 3,185,056 87.0 %93.2 %$62,795 $21.63 6.7 %4.7 %7.2 %
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD823 4,209,915 86.8 %89.1 %61,258 18.90 5.9 %6.2 %7.0 %
Houston-The Woodlands-Sugar Land, TX528 3,781,394 89.4 %93.3 %44,753 13.11 7.2 %5.5 %5.1 %
Dallas-Fort Worth-Arlington, TX412 2,515,979 88.0 %89.7 %40,158 18.01 3.1 %3.7 %4.6 %
Chicago-Naperville-Elgin, IL-IN-WI314 3,490,768 76.7 %79.2 %38,291 14.58 3.6 %5.1 %4.4 %
Los Angeles-Long Beach-Anaheim, CA210 1,706,223 97.0 %98.3 %35,491 23.25 2.6 %2.5 %4.1 %
Atlanta-Sandy Springs-Alpharetta, GA922 3,326,176 86.3 %89.7 %34,842 12.06 5.7 %4.9 %4.0 %
Tampa-St. Petersburg-Clearwater, FL1811 1,790,291 85.6 %88.1 %24,270 16.07 2.8 %2.6 %2.8 %
Cincinnati, OH-KY-IN301,856,474 93.9 %95.3 %22,921 16.55 1.8 %2.7 %2.6 %
10 Miami-Fort Lauderdale-Pompano Beach, FL71,465,717 77.3 %84.7 %19,597 16.01 2.3 %2.1 %2.2 %
10 Largest MSAs by ABR162 27,327,993 86.5 %89.7 %384,376 16.75 41.7 %40.0 %44.0 %
11 Denver-Aurora-Lakewood, CO191,316,626 94.0 %97.6 %17,023 14.21 1.5 %1.9 %1.9 %
12 Charlotte-Concord-Gastonia, NC-SC221,576,806 91.7 %92.4 %16,220 12.28 1.5 %2.3 %1.9 %
13 Orlando-Kissimmee-Sanford, FL23802,048 84.3 %85.2 %15,472 22.86 1.3 %1.2 %1.8 %
14 Detroit-Warren-Dearborn, MI141,431,286 90.1 %90.6 %15,282 12.84 2.1 %2.1 %1.7 %
15 San Diego-Chula Vista-Carlsbad, CA17660,209 94.0 %95.7 %14,462 23.38 0.8 %1.0 %1.7 %
16 Minneapolis-St. Paul-Bloomington, MN-WI161,197,284 89.1 %90.5 %14,204 14.34 2.1 %1.8 %1.6 %
17 Naples-Marco Island, FL142780,327 80.4 %91.9 %12,912 18.46 1.0 %1.1 %1.5 %
18 San Francisco-Oakland-Berkeley, CA12506,994 98.9 %99.0 %11,790 29.05 0.5 %0.7 %1.3 %
19 Ann Arbor, MI147820,327 84.2 %89.4 %11,634 15.98 0.8 %1.2 %1.3 %
20 Vallejo, CA122519,223 85.8 %95.4 %10,287 20.95 0.3 %0.8 %1.2 %
20 Largest MSAs by ABR208 36,939,123 87.3 %90.4 %523,662 16.75 53.6 %54.1 %59.9 %
21 Binghamton, NY194751,572 94.9 %95.8 %9,853 13.68 1.0 %1.1 %1.1 %
22 Memphis, TN-MS-AR43652,349 92.1 %93.7 %9,494 15.98 0.3 %1.0 %1.1 %
23 Nashville-Davidson--Murfreesboro--Franklin, TN36798,262 96.4 %98.4 %9,484 12.07 1.0 %1.2 %1.1 %
24 North Port-Sarasota-Bradenton, FL72734,750 82.4 %94.6 %9,456 13.72 1.3 %1.1 %1.1 %
25 Allentown-Bethlehem-Easton, PA-NJ70829,432 94.5 %95.0 %9,316 13.05 0.8 %1.2 %1.1 %
26 Port St. Lucie, FL113688,049 88.6 %90.3 %9,289 15.05 1.3 %1.0 %1.1 %
27 Cleveland-Elyria, OH34795,777 80.9 %84.4 %8,710 13.07 0.8 %1.2 %1.0 %
28 Boston-Cambridge-Newton, MA-NH11724,145 84.2 %89.9 %8,625 13.25 1.5 %1.1 %1.0 %
29 Hartford-East Hartford-Middletown, CT48584,167 83.9 %84.0 %8,520 17.35 0.8 %0.9 %1.0 %
30 Riverside-San Bernardino-Ontario, CA13505,679 83.8 %88.7 %8,509 22.03 1.0 %0.7 %1.0 %
31 Indianapolis-Carmel-Anderson, IN33726,319 85.2 %88.6 %7,308 11.52 0.5 %1.1 %0.8 %
32 Louisville/Jefferson County, KY-IN46700,232 92.8 %93.9 %7,157 11.19 1.0 %1.0 %0.8 %
33 Jacksonville, FL40690,355 89.6 %90.3 %6,713 11.20 0.8 %1.0 %0.8 %
34 Norwich-New London, CT183433,532 92.2 %92.2 %6,378 16.16 0.5 %0.6 %0.7 %
35 New Haven-Milford, CT67487,795 81.1 %83.7 %5,960 14.60 1.0 %0.7 %0.7 %
Supplemental Disclosure - Three Months Ended March 31, 2021Page 36
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LARGEST MSAs BY ABR
Dollars in thousands, except per square foot amounts
Percent of
Number ofPercentPercentNumber ofPercentPercent
Largest MSAs by ABRMSA RankProperties GLABilledLeased ABR ABR PSFPropertiesof GLAof ABR
36 Greensboro-High Point, NC75406,768 95.7 %98.7 %5,768 14.36 0.3 %0.6 %0.7 %
37 Worcester, MA-CT58515,320 93.2 %95.4 %5,734 14.12 0.8 %0.8 %0.7 %
38 Poughkeepsie-Newburgh-Middletown, NY86399,379 98.4 %100.0 %5,722 14.55 0.8 %0.6 %0.7 %
39 Milwaukee-Waukesha, WI39566,998 85.6 %86.0 %5,620 11.52 1.0 %0.8 %0.6 %
40 Wilmington, NC167379,107 89.5 %96.0 %5,495 15.25 0.5 %0.6 %0.6 %
41 College Station-Bryan, TX186433,832 91.1 %93.7 %5,368 15.95 0.8 %0.6 %0.6 %
42 Scranton--Wilkes-Barre, PA101619,139 89.4 %92.0 %5,294 23.51 0.5 %0.9 %0.6 %
43 Washington-Arlington-Alexandria, DC-VA-MD-WV6461,825 60.3 %74.7 %5,103 15.41 0.8 %0.7 %0.6 %
44 Winston-Salem, NC87437,561 88.8 %90.7 %5,060 13.38 0.8 %0.6 %0.6 %
45 Kansas City, MO-KS31608,649 94.4 %94.6 %4,793 8.46 1.0 %0.9 %0.5 %
46 Oxnard-Thousand Oaks-Ventura, CA68316,522 82.0 %86.4 %4,564 17.37 0.5 %0.5 %0.5 %
47 Dayton-Kettering, OH73351,898 96.9 %96.9 %4,546 13.64 0.5 %0.5 %0.5 %
48 Boulder, CO155278,419 94.4 %95.7 %4,483 16.90 0.3 %0.4 %0.5 %
49 Mobile, AL126429,636 74.1 %84.8 %4,379 12.29 0.3 %0.6 %0.5 %
50 Fresno, CA54261,344 99.0 %99.0 %4,151 16.04 0.3 %0.4 %0.5 %
50 Largest MSAs by ABR296 53,507,935 87.6 %90.8 %724,514 15.88 76.4 %78.5 %83.0 %
51 Greenville-Anderson, SC60220,723 97.7 %98.8 %4,030 18.93 0.5 %0.3 %0.5 %
52 Columbus, OH32434,804 88.1 %89.7 %3,951 10.84 0.8 %0.6 %0.5 %
53 Charleston-North Charleston, SC74498,871 82.8 %83.3 %3,910 9.54 0.5 %0.7 %0.4 %
54 Panama City, FL247397,492 95.1 %96.3 %3,892 10.17 0.5 %0.6 %0.4 %
55 Manchester-Nashua, NH131347,947 52.8 %63.1 %3,888 18.64 0.5 %0.5 %0.4 %
56 Raleigh-Cary, NC42291,026 96.2 %98.0 %3,848 13.60 0.5 %0.4 %0.4 %
57 Spartanburg, SC161360,277 72.2 %73.6 %3,651 14.32 0.3 %0.5 %0.4 %
58 Bakersfield, CA62240,068 96.3 %96.3 %3,597 15.85 0.3 %0.4 %0.4 %
59 Richmond, VA44229,840 95.1 %95.6 %3,463 15.75 0.5 %0.3 %0.4 %
60 Odessa, TX262372,534 100.0 %100.0 %3,348 14.22 0.3 %0.5 %0.4 %
61 Atlantic City-Hammonton, NJ187179,199 90.5 %93.1 %3,242 19.44 0.3 %0.3 %0.4 %
62 Hilton Head Island-Bluffton, SC204231,952 79.7 %81.0 %3,080 16.39 0.5 %0.3 %0.4 %
63 Springfield, MA84319,668 92.2 %98.3 %3,037 13.03 0.5 %0.5 %0.3 %
64 Pittsfield, MA331192,944 97.4 %97.4 %3,019 16.46 0.3 %0.3 %0.3 %
65 Greenville, NC238233,153 94.3 %94.3 %2,976 13.53 0.3 %0.3 %0.3 %
66 Des Moines-West Des Moines, IA83512,825 85.8 %87.1 %2,935 6.65 0.5 %0.8 %0.3 %
67 Virginia Beach-Norfolk-Newport News, VA-NC37150,300 97.7 %97.7 %2,853 21.46 0.3 %0.2 %0.3 %
68 Savannah, GA139221,381 95.7 %97.8 %2,821 13.03 0.5 %0.3 %0.3 %
69 Roanoke, VA163313,340 97.6 %97.6 %2,627 10.63 0.5 %0.5 %0.3 %
70 Bridgeport-Stamford-Norwalk, CT59161,075 97.3 %97.3 %2,501 15.96 0.3 %0.2 %0.3 %
71 Elkhart-Goshen, IN220211,680 62.4 %92.9 %2,487 12.65 0.3 %0.3 %0.3 %
Supplemental Disclosure - Three Months Ended March 31, 2021Page 37
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LARGEST MSAs BY ABR
Dollars in thousands, except per square foot amounts
Percent of
Number ofPercentPercentNumber ofPercentPercent
Largest MSAs by ABRMSA RankProperties GLABilledLeased ABR ABR PSFPropertiesof GLAof ABR
72 Hickory-Lenoir-Morganton, NC146284,984 93.8 %93.8 %2,449 9.17 0.5 %0.4 %0.3 %
73 Altoona, PA341266,512 87.4 %87.4 %2,430 10.54 0.3 %0.4 %0.3 %
74 Duluth, MN-WI170183,087 98.2 %