JACKSONVILLE, Fla. (July 18, 2012) – Regency Centers Corporation (NYSE:REG; the “Company”) announced today that it has entered into an agreement to sell a 15-property portfolio (the “Portfolio”) to an affiliate of Blackstone Real Estate Partners VII (“Blackstone”) for total consideration of $321.0 million representing a weighted average cap rate of 8.1%.
The Portfolio is 90.3% leased, includes 2.1 million leasable square feet and is unencumbered by debt. All properties are wholly owned by the Company. Closing of the transaction is expected to occur on July 25, 2012.
For a complete copy of the company’s news release and a listing of the properties, please contact:
Patrick Johnson
904 598 7422
.
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