Regency Centers Announces Common Stock Offering

JACKSONVILLE, FL --(BUSINESS WIRE)-- Regency Centers Corporation (“Regency” or the “Company”) (NYSE: REG) today announced an underwritten public offering of 4,350,000 shares of its common stock. In addition, the Company will grant the underwriters a 30-day option to purchase up to an additional 652,500 shares of its common stock.

BofA Merrill Lynch and Wells Fargo Securities are acting as joint book-running managers for the offering.

The Company intends to use net proceeds from the offering, plus available cash balances, to redeem its outstanding $300 million 5.875% senior unsecured notes due June 15, 2017 (the “Notes”), including a required make-whole premium.

The Company also intends to use a portion of the net proceeds to settle in full forward starting swaps (the “Swaps”) with notional amounts of $220 million. Such Swaps were originally intended for a planned new debt issuance in 2017 to refinance the Notes now targeted for redemption. The make-whole premium and Swaps settlement are expected to total approximately $58 million.

There will be no impact to Core Funds from Operations (“Core FFO”) as a result of these one-time charges; however, the combined one-time charges will reduce net income attributable to common stockholders (“Net Income”) per share and NAREIT Funds From Operations (“NAREIT FFO”) per share by approximately $0.58 in the third quarter of 2016.

The estimated impacts to per share amounts for Net Income, NAREIT FFO and Core FFO do not include the interest savings for the remainder of 2016 as a result of the redemption of the Notes. The Company intends to use the remaining portion of the net proceeds, if any, to fund investment activities and for general corporate purposes.

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

Regency Centers Corporation

Patrick Johnson, 904-598-7422

PatrickJohnson@RegencyCenters.com

Lincoln Signs Two New Leases at Lenox Center in Atlanta, GA; , Brings Property to 95 Percent Occupancy

Jeff Henson

ATLANTA, GA (July 11, 2016) – Lincoln Property Company Southeast (Lincoln) has brokered two new office leases totaling 4,800 square feet at Lenox Center, a prime office building located in Atlanta’s Buckhead submarket.

Jeff Henson, George Gwaltney and Hunter Henritze of Lincoln represented the landlord, HD Realty, in the transactions.

Bell Partners, Inc. signed a new lease for 2,428 square feet. John Thornton and Bennett Gottlieb with CBRE represented the tenant. Additionally, The Hanover Company signed a new lease for 2,372 square feet. The addition of these two tenants brings the property to 95 percent occupancy.

“Attentive management and top-notch amenities are the assets that today’s office tenants are seeking,” Henson said. “HD Realty’s commitment to quality and excellence is the main reason this building is almost at stabilization.”

George Gwaltney

HD Realty recently completed a $1.3 million lobby renovation, including new tile flooring, new millwork, modern lighting, a new interactive electronic building directory system and a stunning new architectural light fixture that acts as a focal point in the seating area.

In addition to the lobby renovation, new canopies and tile have been added to the property at the front and rear access points, along with new signage for the building and other enhancements to the buildings appearance.

  

For more information on the Southeast Region of Lincoln Property Company, please visit lpcsoutheast.com. To check out the blog, go to www.lpcsoutheast.com/blog. 

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

Savannah Durban

The Wilbert Group

404-343-0870

sdurban@thewilbertgroup.com

Sunbeam Properties Raises Walls on New Office/Flex Building; MPC-30 adds 71,000 sq. ft. to the Miramar Park of Commerce

MIRAMAR, FL (July 11, 2016) – Sunbeam Properties & Development is raising the walls on MPC-30, a 70,948 sq.-ft. spec office/flex building at the Miramar Park of Commerce, the largest locally owned and managed business park in South Florida.

MPC-30 is the first office/flex building that Sunbeam has built in the Miramar Park of Commerce since 2006.

Maridee Bell

“Today, there is significant demand for high-quality flex/office space with high parking ratios in southwest Broward County. However, there is a limited supply of existing properties that meet those criteria,” said Jonathan Kingsley, executive vice president of Colliers International and broker for MPC-30.

“That, coupled with increasing rental rates for office and industrial space, has provided an opportunity for Sunbeam to contribute new flex space options to the market.”

  

MPC-30 will offer impact resistant glass, Miramar Parkway frontage with lighted signage, a five per thousand parking ratio and subdivision capability to accommodate a 5,000 sq.-ft. tenant. Interior features include 14 feet of clear ceiling height, a 126-foot non-shared truck court and bays that are 130 feet deep. Completion is scheduled for Q4.

“We are currently at 97 percent occupancy in our flex/office product at the Park, so the timing of MPC-30 is right,” said Maridee Bell, vice president of Sunbeam Properties. “This new building offers prospective tenants a location in a campus-style setting, Miramar Parkway frontage, excellent parking, private entrances to offices, extensive glass, individual signage, round-the-clock access and full control of their electric and HVAC systems.”

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

954-776-1999

Pierson Grant Public Relations

Lexi Robinson, ext. 255

lrobinson@piersongrant.com

Berger Commercial Realty Secures Nearly 5,000 Square-Feet in Lease Transactions for Tenants in Coral Springs, FL and Weston, FL

Stephanie Bernota

FORT LAUDERDALE, FL (July 11, 2016) - Berger Commercial Realty Sales Associate Stephanie Bernota and Palm Beach Managing Director Michael Feuerman recently secured 4,767 square-feet in lease transactions for tenants in Coral Springs and Weston.

Michael Feurman

Bernota represented Feeney Enterprises, Inc. and Cabinetmaker Warehouse in leasing 2,030 square-feet of space each from Santo Expedito Real Estate, Inc. at Sawgrass Business Park, located at 4368 N.W. 120th Avenue in Coral Springs.

Feuerman represented Michael Simpson, Ph.D., PA in leasing 707 square-feet of space from The Realty Associates Fund VIII, L.P. at the Chase Bank Building, located at 1040 Weston Road in Weston.

For more information about Berger Commercial Realty's tenant representation services, call 954-358-0900.

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

 954-776-1999

Lexi Robinson, ext. 255, lrobinson@piersongrant.com

Marielle Sologuren, ext. 226, msologuren@piersongrant.com 

Marcus & Millichap Arranges $4.5 Million Sale of 34,250-SF Orange City Town Center in Orange City, FL

Nicholas Ladvora

ORANGE CITY, FL, July 11, 2016 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Orange City Town Center, a 35,250-square foot retail property located in Orange City, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $4,500,000.

Nicholas Ledvora, CCIM, senior associate in the firm’s Tampa office, Chad E. Atwood, senior associate in the firm’s Jacksonville office, and John L. Graves, associate in the firm’s Orlando office, all had the exclusive listing to market the property on behalf of the seller, a limited liability company.  

The buyer, a limited liability company, was also secured and represented by the same brokerage team.

Orange City Town Center, a 35,250-square foot, multi-tenant, mixed-use property, is positioned on one of Volusia County’s primary retail arteries at 2751 Enterprise Road in Orange City, Florida.

John L. Graves

Built in 2007, the building has two floors with an approximately 18,300-square foot floor plate. Orange City Town Center sits at the front of Orange City Medical Park and is approximately 0.3 miles south of Florida Hospital Fish Memorial, the largest employer in Orange City. At the time of sale, the property was approximately 96 percent leased.

“The sale worked out well for both parties. The sellers have attempted to sell through several other brokerage firms without success; while the buyers noticed some operational inefficiencies that will allow them to realize a much better yield through the execution of a diligent management strategy,” stated Ledvora.

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

Richard D. Matricaria

First Vice President / Regional Manager

 Tampa, FL

(813) 387-4700

Charles Dunn Co. Completes $8.1 Million Sale of 31-Unit Apartment Property in Hollywood Submarket of Los Angeles

6021-6029 Carlton Way Apartments, Hollywood, CA

 LOS ANGELES, CA, July 11, 2016 – Charles Dunn Company, one of the largest full-service regional real estate firms in the western United States, has completed the $8.1 million sale of a fully occupied 31-unit apartment property located at 6021-6029 Carlton Way in the Hollywood submarket of  Los Angeles.

Bryan Glenn, senior director with Charles Dunn Company, represented the buyer, a private Los Angeles-based investment company. The seller, a Los Angeles-based private investor, was represented by Coldwell Banker Commercial. The closing cap rate was 3.5 percent and the price per unit was just over $261,000.

Bryan Glenn

“Hollywood is one of the hottest submarkets in Southern California with a tremendous amount of residential and commercial redevelopment,” said Glenn.

“It also benefits from an influx of tenants taking brand new creative office space such as Netflix’s relocation to the Icon building on Sunset Boulevard adjacent to Sunset Bronson Studios. This property is extremely well-positioned to benefit from the continuing growth in Hollywood and the demand for high quality rental housing.”

Glenn added: “The buyer was attracted to the asset’s fantastic Hollywood location and the high level of opportunity to add significant value through renovation and bringing rents to market rates.”  

Built in 1963, the property includes two, two-story buildings with a mix of studio, one-, two- and three-bedroom units and includes covered parking and a laundry facility. 

It is walking distance to Hollywood and Sunset Boulevard, the Hollywood / Vine Red Line Metro, W Hotel, Henry Fonda Theatre, Sunset Bronson Studios, Emerson Arts College, Columbia Square, and other key destinations.

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

darcie@dagicomm.com

www.charlesdunn.com

HFF closes $98.25 million sale of and arranges $63.86 million financing for Two Class A seniors housing properties in suburban Philadelphia and New York City

  The Solana Roseland Apartments , 345 Eagle Rock Avenue, Roseland, NJ  

Sarah Baccich

DALLAS, TX, July 11, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $98.25 million sale of two Class A seniors housing communities – The Solana Roseland in Roseland, New Jersey and The Solana Willistown in Willistown, Pennsylvania.

HFF marketed the offering exclusively on behalf of the seller, Formation-Shelbourne Senior Living Services, and procured an undisclosed buyer. 

In addition, HFF assisted the new owner in securing a $63.86 million acquisition loan through Cornerstone Real Estate Advisers, one of the largest global real estate investment advisers, acting on behalf of an institutional client.

The Solana portfolio encompasses 118 assisted living and 53 memory care units in a variety of options ranging from studio to two-bedroom floor plans.

  The Solana Roseland is located at 345 Eagle Rock Avenue just off Interstate 280 in northern New Jersey offering convenient access from surrounding New Jersey suburbs, including Parsippany-Troy Hills, Morristown, Montclair, East Orange, Newark, Jersey City as well as New York City.

The Solana Willistown Apartments, 1713 West Chester Pike,
Willistown, PA

 The Solana Willistown is located at 1713 West Chester Pike in the affluent western Philadelphia suburb of Willistown.  The market area includes Newtown Square, Paoli and West Chester. Completed in 2013, the properties are 94 percent leased overall and total 74,222 rentable square feet.

The HFF seniors housing team representing the seller was led by senior managing directors Ryan Maconachy and Chad Lavender.  Associate director Sarah Baccich led the team’s debt placement efforts on behalf of the buyer/borrower.

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

Olivia Hennessey

Public Relations Coordinator

HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

www.cornerstoneadvisers.com.

HFF closes $28.9 million sale of garden-style apartment complex in San Diego, CA

  

Sun Ridge Apartments, 8729 Graves Avenue, Santee, CA

Hunter Combs

SAN DIEGO, CA, July 11, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $28.9 million sale of Sun Ridge Apartments, a 160-unit, garden-style apartment complex in the East San Diego County community of Santee, California.

HFF marketed the asset on behalf of the seller, MG Properties Group, and procured the buyer, Stratford Partners.  The property was sold free and clear of existing debt.

Sun Ridge Apartments is located at 8729 Graves Avenue adjacent to SR-52 and SR-67. 

Situated on 5.45 acres, the community is approximately 19 miles northeast of downtown San Diego and less than two miles from Santee Town Center and Santee Trolley Square, which offers numerous retail, dining and entertainment amenities, as well as light rail access through central and downtown San Diego. 

The gated community has 16 one-bedroom and 144 two-bedroom units averaging 843 square feet and features a swimming pool, covered picnic area with grills, gated dog runs, children’s playground and 24-hour laundry facility.

Sean Deasy

 The HFF investment sales team was led by director Hunter Combs and senior managing director and co-head of the national multi-housing investment sales platform, Sean Deasy.

“The 52 freeway extension has dramatically cut Santee resident’s commute times to San Diego’s top employment hubs, including Kearny Mesa and UTC,” said Combs. 

“With new nearby shopping and entertainment attractions, a transit-oriented location and top-tier schools, including Grossmont College and the new San Diego Christian College, Sun Ridge Apartments is very well positioned for long-term growth.”

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

Olivia Hennessey

Public Relations Coordinator

HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

29th Street Capital Expands Phoenix, Las Vegas and San Diego Multifamily Office

Christine Mueller

Phoenix, AZ) – Christine Mueller has joined 29th Street Capital (29SC) as an Associate focusing on Phoenix, Las Vegas & San Diego.

 Mueller is responsible for all facets of the privately-held real estate investment and advisory firm’s asset management strategies and will be vital piece of the multifamily acquisition platform including assisting 29SC expand into the San Diego market. 

“We are extremely excited to have Christine join us and focus on managing our growing portfolio in Phoenix and Las Vegas while helping us to expand our national footprint by entering the San Diego market,” said 29th Street Vice President of Acquisitions Dusty Eddy.

“Christine has many years of experience in the real estate industry and a great fundamental understanding of the acquisition and asset management process. 

"We look forward to growing our platform in our existing markets, adding San Diego properties to our portfolio and executing our strategy on our existing portfolio.”

Mueller brings over five years of institutional experience in financial analysis, asset management and acquisitions. Most recently, she worked as a Senior Financial Analyst preparing financial reports and analyses for her Executive Management team.

 Before that, she supported the asset management team in the planning, forecasting and budgeting process for a Scottsdale-based publicly-traded REIT with over $3.3 billion in assets.

“What an amazing opportunity to join this emerging entrepreneurial team,” Mueller said. 

Dusty Eddy

“The growth that 29th Street Capital has been able to achieve in such a short amount of time in the Phoenix market has been truly remarkable.  I am excited to not only strengthen our portfolio there, but also to help expand upon this success in San Diego.”

In addition to managing the existing portfolio, including oversight of the renovation processes in Phoenix and Las Vegas, her responsibilities will include assisting in new acquisitions in existing markets as well as in the newly-entered San Diego market.

Formed in 2009, 29SC is a privately-held real estate investment and advisory firm that employs a value-added investment strategy on properties that are below the radar of institutional peers. 29SC’s current portfolio consists of over 6,200 units and it has acquired over 8,000 units across its nine offices in the U.S. Learn more about 29SC at www.29thstreetcapital.com.

For investment inquiries, contact:

Stan Beraznik, Founder and Managing Principal at 29th Street Capital

415.643.6875 | sberaznik@29thstreetcapital.com

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

terri@territhornton.com

Will Powers Joins Capital Square 1031 as Senior Vice President of Sales, Northeast

Will Powers

 RICHMOND, Va. (July 11, 2016) - Capital Square 1031, LLC, a leading sponsor of replacement property for Section 1031 exchanges, announced today that Will Powers has joined the firm as senior vice president of sales, responsible for the Northeast.

Prior to joining Capital Square, Powers was a regional vice president with PTX Securities, a managing broker-dealer assisting sponsors in the design and engineering of securities programs.

Previously, he was a regional vice president of sales with Preferred Apartment Communities, representing the New England territory. 

During his career, Powers has worked with several sponsors of non-traded real estate investment trusts, Delaware statutory trusts, and private placement programs.  He also founded his own broker-dealer specializing in 1031 transactions.

  

Louis Rogers

“Will joins Capital Square with more than two decades of experience in investment sales and consulting, bringing with him strong relationships throughout the industry and the northeast,” said Louis Rogers, founder and chief executive officer of Capital Square 1031. “He has a deep understanding of DSTs and Section 1031 exchanges, and will be a great addition to our company as we continue our growth.”

As of June 30, Capital Square 1031’s real estate portfolio includes 50 real estate assets valued at more than $485 million, based on investment cost.

Powers earned a bachelor’s degree from Emmanuel College. He is a registered representative with FINRA and holds Series 7, 24, 63, and 79 licenses.

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

Julie Leber

Spotlight Marketing Communications

949.427.5172, ext. 703

julie@spotlightmarcom.com

www.CapitalSquare1031.com.