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    Conor Peaks • Deutsche Bank

    Conor Peaks's questions to Tanger Inc (SKT) leadership

    Conor Peaks's questions to Tanger Inc (SKT) leadership • Q4 2024

    Question

    Conor Peaks asked about the potential impact of the terminated Capri and Tapestry merger and whether it has caused any adjustments to Tanger's real estate strategy.

    Answer

    President & CEO Stephen Yalof stated that their relationship with Tapestry remains strong and that they see the sale of Stuart Weitzman to Caleres as a potential growth opportunity. He also noted Capri's positive outlook from its recent investor day and affirmed their importance as a key tenant, indicating no change in strategy due to the merger's termination.

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    Conor Peaks's questions to Brixmor Property Group Inc (BRX) leadership

    Conor Peaks's questions to Brixmor Property Group Inc (BRX) leadership • Q3 2024

    Question

    Conor Peaks asked for specifics on the Big Lots bankruptcy, how it pertains to Brixmor's portfolio, and the company's outlook for the recaptured spaces.

    Answer

    COO Brian Finnegan expressed satisfaction with the progress, noting that 7 of the 10 boxes being returned are already resolved with rent spreads exceeding 50%. He framed it as a significant opportunity, given the low in-place rents of around $7.50/sq ft and historic low vacancy for box spaces. CEO Jim Taylor added that the team was prepared for this and is excited to create value by remerchandising the spaces with better tenants at higher rents.

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    Conor Peaks's questions to Brixmor Property Group Inc (BRX) leadership • Q3 2024

    Question

    Conor Peaks asked for specifics on the Big Lots situation, including how the bankruptcy announcement affects Brixmor's portfolio and the outlook for re-leasing those spaces.

    Answer

    President & COO Brian Finnegan expressed satisfaction with the re-leasing progress, noting that 7 of the 10 boxes they will get back are already resolved at rent spreads exceeding 50%. He highlighted strong demand from specialty grocery, off-price, and fitness tenants. CEO James Taylor added that the team had anticipated this situation, enabling a swift resolution, and would welcome more boxes back due to their low in-place rents.

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