Under the terms of the agreement, Brixmor will directly acquire 23 grocery-anchored shopping centers for $636 million. These assets, which are approximately 96% leased, are situated within Brixmor’s existing operating regions, primarily in Florida, Georgia, and the Carolinas. Simultaneously, a newly formed joint venture between Brixmor and Everview Partners will acquire the remaining 92 centers for $1.71 billion. Brixmor will hold a 20% equity interest in this venture while serving as the asset and property manager.

Brian T. Finnegan, Brixmor’s CEO and President, noted that the deal aligns with the company’s growth strategy by capturing below-market rents and identifying redevelopment opportunities. The transaction is expected to close in the first quarter of 2027, subject to approval from Slate unitholders and customary closing conditions. The deal is projected to be immediately accretive to Brixmor’s Nareit FFO per share, leveraging the company’s national operating platform to enhance cash flow growth across the acquired portfolio.