JACKSONVILLE, FL--(BUSINESS WIRE)-- Regency
Centers Corporation (“Regency”) today announced it has closed on the sale of
the portfolio of shopping centers owned by Regency Retail Partners, LP (the
“Fund”) together with adjacent property phases wholly-owned by Regency to a
joint venture between an affiliate of Blackstone Real Estate Partners VII L.P.
and DDR Corp. for a gross sales price of $332 million, including $207 million
of assumed mortgage debt.
Given Regency’s 20% ownership interest in
the Fund, the company’s share of net sales proceeds from this transaction
before closing adjustments was approximately $38 million. The Fund will be
dissolved following this transaction.
For a complete
copy of the company’s news release, please contact:
Regency Centers
Corporation
Patrick Johnson, 904-598-7422
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