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Regency Centers Corporation (“Regency”) announced today that it has agreed to acquire an 80% interest in a portfolio of properties (the “Portfolio”) currently controlled by Kleban Properties of Fairfield, Connecticut (“Kleban”). The Portfolio consists of three properties known as Fairfield Center, The Brick Walk, and Black Rock Shopping Center totaling approximately 315,000 square feet and each located in highly affluent and densely populated areas within Fairfield. The properties feature a variety of best-in-class national and regional retailers such as Banana Republic, The Gap, Old Navy, Victoria’s Secret, and Fidelity, as well as some of Fairfield’s top dining and entertaining establishments. Additional transaction details will be announced upon closing, which remains subject to customary conditions as well as loan assumption consent.
About Regency Centers Corporation (NYSE: REG)
Regency is the preeminent national owner, operator, and developer of high quality grocery-anchored and community shopping centers. At September 30, 2013, the Company owned 333 retail properties, including those held in co-investment partnerships. Including retailer-owned square footage, the portfolio encompassed 43.6 million square feet located in top markets throughout the United States. Since 2000, Regency has developed 212 shopping centers, including those currently in-process, representing an investment at completion of more than $3.0 billion. Operating as a fully integrated real estate company, Regency is a qualified real estate investment trust that is self-administered and self-managed.
Forward-looking statements involve risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements. Please refer to the documents filed by Regency Centers Corporation with the SEC, specifically the most recent reports on Forms 10-K and 10-Q, which identify important risk factors which could cause actual results to differ from those contained in the forward-looking statements.