Centro Properties Group US continues its evolution by officially changing its name to Brixmor Property Group, Inc. 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 U.S. with 585 properties aggregating approximately 92 million s/f and has been a leader in value-creating redevelopment over the last decade.
"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, CEO. "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. Tags: