Brixmor - Reputation ?
Has anyone worked with Brixmor in the past or currently? How is their reputation in the industry? Do they do anything other than retail? Are they set up for long term growth/ have a positive outlook, or have they been selling off assets trying to stay afloat?
[{"id": "fk9bdc5", "text": "I\u2019ve worked with them on some modeling consulting . They used to be owned by Blackstone and they only do strip centers. Their CEO and CFO got charged with accounting fraud about 6 months ago, google it and you\u2019ll see some info on the scandal. So I think that answers your question on reputation. What work are you looking to do with them?", "replies": [{"id": "fk9wj1t", "text": "The Former CEO and CFO resigned over the accounting scandal 4 years ago (2016).  They have a new leadership team.  I\u2019ve never worked for Brixmor but I have worked with/for several members of the leadership team including the new CEO.  It\u2019s a good group of smart/talented people.", "replies": [], "depth": 2}], "depth": 1}, {"id": "fk9ivux", "text": "I used to rent from them. Would not do it again.", "replies": [{"id": "fk9rf59", "text": "Why?", "replies": [{"id": "fka9xcq", "text": "They are not responsive to problems. ex. The back door rusted through and broke and they would not replace it. \n\nThey nickel and dime their tenants. They gave us a laundry list of extras we could pay for. The example I remember is it being $500 per day to put a display outside of our space.\n\nRight before we moved we had an issue with a neighbor. We are a martial arts gym. They were an escape room. They moved in 4 years after we did. The demising wall between us wasn't built properly. You could actually see it move if you touched it. The neighbor attached their camera to that wall and it kept going out of sync from the movement.\n\nRather than fix the wall, Brixmor decided our heavy bags, which were attached to braces that were attached to the ceiling, were the issue and gave us a warning to take them down. \n\nHalfway through the lease they wanted to change the terms on how we were supposed to pay for the trash pick up so they could profit from it. \n\nWe were there for five years and felt like they did not support the businesses in that center. The turnover was high. They wanted to raise our rent by $500/month at the end of our lease (it already had a cost of living raise in it each year) and we said no thanks. It's been 3 years and they still haven't leased that space.", "replies": [{"id": "fkbc5ne", "text": "Makes sense, One of their favorite metrics to tout is the increase they get when a lease is up.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "flk34tr", "text": "Dealing with them right now on a matter. Absolute nightmare of a company in every way.", "replies": [{"id": "flk6rbj", "text": "Is it covid-19 related? Regardless, I\u2019m interested in hearing the high-level details.", "replies": [], "depth": 2}], "depth": 1}]