Centro Properties Group US Changes Name to Brixmor Property Group

NEW YORK, Sept. 28, 2011 /PRNewswire/ -- Centro Properties Group US continues its evolution by officially changing its name to Brixmor Property Group, Inc. ("Brixmor," "Brixmor Property Group" or the "Company"), effective immediately.  The name change follows the acquisition of the Company in June by an affiliate of Blackstone Real Estate Partners VI L.P.  Brixmor is the second largest owner of community and neighborhood shopping centers in the United States with 585 properties aggregating approximately 92.0 million square feet and has been a leader in value-creating redevelopment over the last decade.  

(Logo:  http://photos.prnewswire.com/prnh/20110928/NY76014LOGO)

"Today, we are a well-capitalized organization committed to supporting the growth strategies of our retailers by offering the best locations in well-anchored, highly-productive shopping centers," said Michael Carroll, Chief Executive Officer.  "While our new name embodies the physical foundation of our business in 'bricks' and 'mortar,' it also symbolizes the convergence of our value-creation capabilities with the real estate objectives of our current and future retailers.  Although retailers today utilize multiple distribution channels, the bricks and mortar arena remains the largest and we are well positioned to partner with our retailers and provide access to their target markets."  He continued, "In addition, by fully re-engaging our redevelopment program, we are able to provide the flexibility required by our grocery, national and regional anchor tenants as they continue to progress their store prototypes."  

Brixmor also unveiled a new logo and a re-branded website of brixmor.com.  Additional branding initiatives, including property signage and new leasing and marketing materials, will be implemented over the next several months.  The Company's subsidiaries Centro NP LLC and Centro NP Residual Holding LLC will be changing their names to Brixmor LLC and Brixmor Residual Holding LLC, respectively.

About Brixmor Property Group:

Brixmor Property Group is one of the premier real estate companies in the United States focusing on the ownership and management of community and neighborhood shopping centers. As a comprehensive real estate company, it manages a national portfolio of 585 properties aggregating approximately 92.0 million square feet of gross leasable area.  The portfolio is strategically located across 39 states and is primarily grocery or name-brand discount chain anchored. The Company is the second largest owner of community and neighborhood shopping centers in the United States and has been a leader in redevelopment over the last decade.  It is the largest landlord (by gross leasable area) to The TJX Companies, The Kroger Company, Ahold USA, Dollar Tree, Inc. and Staples, Inc.  Brixmor Property Group is headquartered in New York, New York with multiple regional and local offices across the United States. Further information is available at www.brixmor.com.

Forward-Looking Statements

This press release contains 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, as amended, and the Private Securities Litigation Reform Act, which reflect our current views with respect to, among other things, our beliefs, plans, objectives, goals, targets, expectations, anticipations, assumptions, estimates, intentions and future performance.  In some cases, you can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "could," "would," "seeks," "approximately," "predicts," "intends," "projects," "plans," "targets," "estimates," "anticipates" or the negative version of these words or other comparable words or expressions of the future or otherwise regarding the outlook for our future business and financial performance.  All statements other than statements of historical fact included in this press release are forward-looking statements and are based on various underlying assumptions and expectations and are subject to known and unknown risks, uncertainties and assumptions, and may include projections of our future financial performance based on our growth strategies and anticipated trends in our business. Such forward-looking statements are subject to various risks and uncertainties and speak only as of the date of this press release.  Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. In addition, new risks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Accordingly, you should not rely upon forward-looking statements as a prediction of actual results and we do not assume any responsibility for the accuracy or completeness of any of these forward-looking statements.  Except as may be required by law, we undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.

SOURCE Centro Properties Group US; Brixmor Property Group