Blackstone Pays $321M For 15 Regency Shopping Centers

Law360, New York (July 19, 2012, 5:20 PM EDT) -- Regency Centers Corp. has agreed to sell 15 shopping centers anchored by large chain retailers to an affiliate of The Blackstone Group LP for $321 million, Regency announced Wednesday.

Blackstone Real Estate Partners will acquire 2.1 million leasable square feet unencumbered by debt in the deal, expected to close July 25, according to Regency.

The Jacksonville, Fla.-based retail real estate investment trust said the transfer of the 15-property portfolio was consistent with its business strategy.

“The sale of these nonstrategic assets is consistent with the stated...
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