m_and_a
confidence high
sentiment positive
materiality 0.75
Regency Centers completes $357M acquisition of 5 shopping centers in Orange County, CA
REGENCY CENTERS CORP
- Acquired ~630K sq ft portfolio within Rancho Mission Viejo master-planned community; 96% occupied.
- Portfolio includes grocers with sales approaching $800/sq ft; 3-mile avg household income ~$200K.
- Funded with $199.7M in OP units at $72/unit, $150M assumed debt (4.2% weighted avg, ~12yr maturity), and $7M cash.
- Transaction expected to be accretive to 2025 Core Operating Earnings per share.
- Seller advised by BofA Securities; Regency advised by Paul Hastings.
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