Brixmor, Everview Partners agree to buy Slate Grocery REIT for $2.34 billion
BRX•Brixmor and Everview Partners agreed to buy Slate Grocery REIT in a deal valued at $2.34 billion. The transaction includes 23 centers for $636 million and a joint venture purchase of 92 centers for $1.71 billion; closing is expected in the first quarter of 2027.
1. Deal structure
Brixmor will acquire 23 grocery-anchored shopping centers for $636 million, totaling about 3 million square feet. A Brixmor-Everview joint venture will acquire the remaining 92 centers for $1.71 billion, totaling about 12 million square feet.
2. Brixmor investment
Brixmor will own 20% of the joint venture’s common equity and invest about $174 million in preferred equity, earning a 9% dividend. Closing is expected in the first quarter of 2027, subject to Slate unitholder approval and customary closing conditions.
