Regency Centers Announces 2015 Earnings Guidance; Common Stock Offering; Preliminary 2014 Results and Dividend Increase

2015 Earnings Guidance

JACKSONVILLE, FL--(BUSINESS WIRE)-- Regency Centers Corporation (“Regency” or the “Company”) (NYSE: REG) today stated that as a result of its proposed equity offering announced on January 14, 2015, the Company’s full-year 2015 Core Funds From Operations (“Core FFO”) and Funds From Operations (“FFO”) guidance released on December 15, 2014 is not impacted. The Company has updated 2015 acquisitions and dispositions expectations to include recent activity.

Common Stock Offering 

JACKSONVILLE, Fla.--(BUSINESS WIRE)-- Regency Centers Corporation (“Regency” or the “Company”)(NYSE: REG) today announced that it plans to commence an underwritten public offering of up to 2,500,000 shares of its common stock in connection with the forward sale agreement described below. In addition, the Company will grant the underwriter a 30-day option to purchase up to 375,000 additional shares of its common stock.

Preliminary 2014 Results; Dividend Increase 

JACKSONVILLE, Fla.--(BUSINESS WIRE)-- Regency Centers Corporation (“Regency” or the “Company”) (NYSE: REG) today announced preliminary financial and operating results for the quarter- and year-ended December 31, 2014.

While the audit of Regency’s 2014 financial statements is not yet complete, the Company expects that Core Funds From Operations (“Core FFO”) per diluted share for the fourth quarter of 2014 will be in the range of $0.70 - $0.72 and Fund From Operations (“FFO”) per diluted share for the fourth quarter of 2014 will be in the range of $0.76 - $0.79.

 Further, the Company affirmed full-year 2014 Core FFO and FFO guidance as reported via separate press release on December 15, 2014.

For a complete copy of the company’s news release, please contact:

Patrick Johnson, 904-598-7422

PatrickJohnson@RegencyCenters.com

Maureen Reynolds of Stirling Sotheby’s International Realty Closes Three Vacant Land Sales at Spruce Creek Fly-In at Port Orange, FL

Maureen Reynolds

PORT ORANGE, FL --- Stirling Sotheby’s International Realty recently closed on three vacant land sales at Spruce Creek Fly-In in Port Orange near Daytona Beach.

Roger Soderstrom, founder and owner of Stirling Sotheby’s International Realty, said Trusted Real Estate Specialist Maureen Reynolds of the firm’s Spruce Creek Fly-In Marketing center negotiated the three transactions totaling $986,500.

All three land deals were listed by Reynolds and were closed in December 2014.

The sales included a 0.27 acre site sold to a Brazilian buyer; a 0.55 acre site that was purchased for the buyer’s primary residence; and a 0.6 acre site located on a taxiway with runway access, and where the buyer plans to build a primary residence with an airplane hangar. 

The three December sales boosted the overall 2014 lot sales in Spruce Creek to 10. 

“The market is strengthening,” Reynolds said. “And the desirability of Spruce Creek Fly-In is evidenced by the increase in sales of vacant lots there this past year.” 

“Buyers are of varied backgrounds -- International,  from the Northeast and from right here in Volusia County, but they were all looking for the same unique qualities of the Spruce Creek Fly-In location and the opportunity to tailor a home to their own individual requirements,” Reynolds explained.

For a complete copy of the company’s news release, please contact:

Larry Vershel or Beth Payan, Larry Vershel Communications 407.644.4142 lvershelco@aol.com

Berkadia Closes on 88 Units in Gardendale, AL for $4.1 Million

   

Gardendale Manor, Gardendale, AL

Josh Jacobs

BIRMINGHAM, AL --- Berkadia, one of the nation’s largest and most active multifamily investment banking and research companies, recently negotiated, financed and closed (towards the end of the year) on the sale of two Gardendale apartment communities -- Gardendale Manor with 48 units for $2,200,000 and Gardendale Oaks with 40 units for $1,900,000.

David Oakley, Partner, and Josh Jacobs, Associate, located in the Berkadia Alabama office, negotiated $4.1 million dollar sale of Gardendale Manor and Gardendale Oaks representing the Birmingham based Seller.

A Colorado-based private equity firm purchased all 88 units.

Gardendale Manor, built in 1996, is 100 percent two-bedroom units while Gardendale Oaks, built in 1986, is comprised of 25 percent one-bedroom and 75 percent two-bedroom units. Both garden-style, two-story apartment communities are located in the thriving submarket of Gardendale, Alabama and will be managed by Birmingham’s Highline Property Advisors.

For a complete copy of the company’s news release, please contact:

David Oakley, Partner, Berkadia – Alabama, 205.918.0785 x1, David.Oakley@berkadia.com

Josh Jacobs, Associate, Berkadia – Alabama, 205.994.2694 x4, Joshua.Jacobs@berkadia.com

Larry Vershel or Beth Payan, Larry Vershel Communications 407.644.4142 lvershelco@aol.com

Faris Lee Investments Completes $4.4 Million Sale of Shops at Camarillo Town Center in Camarillo, CA

Shops at Camarillo Town Center, Camarillo, CA

Connie Kim

IRVINE, CA – Faris Lee Investments, a leading retail advisory and investment sales firm, has completed the $4.4 million sale of Shops at Camarillo Town Center in Camarillo, Calif.

 The 8,000-square-foot property is fully occupied by Subway, T-Mobile, Lindora Weight Loss Center, and Eyeglass Factory. It is part of Camarillo Town Center, a 457,128-square-foot power center anchored by The Home Depot, Target, BevMo, Ross, Walmart Neighborhood Market, among others.

Chris DePierro, managing director, and Jeff Conover, senior managing director, of Faris Lee Investments represented the seller, a private investor from Orange County, Calif.

 The buyer, YS Properties, LLC was represented by Connie Kim of Coldwell Banker Wilshire. The closing cap rate was 5.66 percent, and the price-per-square-foot was $550 which is the highest per-square-foot price for a multi-tenant retail property in Ventura County over the past 12 months.

Chris DePierro

“Faris Lee’s strategy was to target California-based 1031 exchange buyers through our FLI exchange network,” said DePierro. 

“We positioned the asset as a secure and stable, well-located investment within the area’s most prominent retail center, that also offered an investor a strong cash-on-cash return.”

Built in 2002 and located at 415 W. Ventura Blvd., Shops at Camarillo is situated at the southwest corner of the 101 Freeway and Las Posas Blvd. It is also across from the highly successful Camarillo Premium Outlets which includes more than 160 outlet stores, generating excellent crossover traffic to the property.

For a complete copy of the company’s news release, please contact:

Darcie Giacchetto

Spaulding Thompson & Associates

949.278.6224

PCCP, LLC Provides $31.2 Million Senior Loan to Refinance the W Hotel San Diego

  

W Hotel San Diego, San Diego, CA

  

Los Angeles, CA – PCCP, LLC announced it has provided a $31.2 million senior loan to refinance the W Hotel San Diego on behalf of the ownership, a joint venture between Rockpoint Group and SCS Advisors.

The 258-room full-service hotel is well located in Downtown San Diego with convenient access to the San Diego Convention Center, Gaslamp district, Class A office buildings, and City and County offices.

“This new loan from PCCP provides flexible financing to allow the ownership to complete its business plan and create additional value,” said Mike Johnson, associate vice president with PCCP, LLC. 

“Rockpoint and SCS Advisors are top-tier real estate firms and PCCP is pleased to work with them on this high-quality institutional asset.”

Built in 2002, the 17-story luxury hotel features the Kelvin restaurant, The Rooftop Bar, 16,000 square feet of meeting space, and the lobby lounge and bar.

For a complete copy of the company’s news release, please contact:

Darcie Giacchetto

Spaulding Thompson & Associates

949.278.6224

On-site Sales Center Now Open at Park Ridge Place Townhomes in Illinois

Jeff Benach

Chicago, IL (Jan. 14, 2014) - Chicago-based Lexington Homes is now welcoming homebuyers to its on-site sales center at Park Ridge Place, a gated community of 16  townhomes in the upscale suburb of Park Ridge, Ill. 

Pre-construction sales are already underway at the community, with first deliveries available in spring 2015.

Bordering Chicago’s northwest side, just 15 miles from downtown and minutes from a variety of entertainment, dining and retail shops, Park Ridge Place provides a premier inner suburb location.

Located at 100 S. Dee Road, a quarter mile south of Touhy Avenue, Park Ridge Place offers  two floor plans with 1,758 and 1,913 square feet. The townhomes are based-priced from $374,990 and $389,990.

“Now that we moved sales onto the actual property, buyers can see firsthand what a great location this is and how close they are not only to Park Ridge’s bustling downtown retail district and transit, but especially to Chippewa Woods Forest Preserve, which is basically the backyard of Park Ridge Place,” said Jeff Benach, co-principal of Lexington Homes.

For a complete copy of the company’s news release, please contact:

Kelly Shumaker, kshumaker@taylorjohnson.com, 312-267-4519

Emily Johnson, ejohnson@taylorjohnson.com, 312-267-4522