Regency Centers Completes $357M Portfolio Acquisition in Southern California
Regency Centers (NYSE:REG) has completed the acquisition of a $357 million portfolio of five premier shopping centers in Orange County, California. The portfolio, located within the Rancho Mission Viejo master-planned community, spans 630,000 square feet and includes Bridgepark Plaza, Mercantile West, Mercantile East, Terrace Shops, and Sendero Marketplace.
The centers boast a 97% occupancy rate with grocery sales approaching $800 per square foot. The transaction was funded through a combination of operating partnership units issued at $72 per unit, assumption of $150 million in secured mortgage debt at 4.2% interest rate, and $7 million in cash. The acquisition is expected to be accretive to Regency's 2025 Core Operating Earnings.
Regency Centers (NYSE:REG) ha completato l'acquisizione di un portafoglio da 357 milioni di dollari composto da cinque centri commerciali di primo livello nella contea di Orange, California. Il portafoglio, situato all'interno della comunità pianificata Rancho Mission Viejo, si estende su 630.000 piedi quadrati e comprende Bridgepark Plaza, Mercantile West, Mercantile East, Terrace Shops e Sendero Marketplace.
I centri vantano un tasso di occupazione del 97% con vendite di generi alimentari che si avvicinano a 800 dollari per piede quadrato. La transazione è stata finanziata mediante una combinazione di unità di partnership operative emesse a 72 dollari per unità, l'assunzione di un debito ipotecario garantito di 150 milioni di dollari con un tasso d'interesse del 4,2% e 7 milioni di dollari in contanti. L'acquisizione è prevista per incrementare gli utili operativi core di Regency nel 2025.
Regency Centers (NYSE:REG) ha completado la adquisición de una cartera de 357 millones de dólares que incluye cinco centros comerciales de primer nivel en el condado de Orange, California. La cartera, ubicada dentro de la comunidad planificada Rancho Mission Viejo, abarca 630,000 pies cuadrados e incluye Bridgepark Plaza, Mercantile West, Mercantile East, Terrace Shops y Sendero Marketplace.
Los centros cuentan con una tasa de ocupación del 97% y las ventas de comestibles se acercan a 800 dólares por pie cuadrado. La transacción se financió mediante una combinación de unidades de asociación operativa emitidas a 72 dólares por unidad, la asunción de una deuda hipotecaria garantizada de 150 millones de dólares con una tasa de interés del 4,2% y 7 millones de dólares en efectivo. Se espera que la adquisición sea beneficiosa para las ganancias operativas principales de Regency en 2025.
Regency Centers (NYSE:REG)는 캘리포니아 오렌지 카운티에 위치한 5개의 주요 쇼핑 센터로 구성된 3억 5,700만 달러 규모의 포트폴리오 인수를 완료했습니다. 이 포트폴리오는 Rancho Mission Viejo 마스터 플랜 커뮤니티 내에 위치하며, 63만 평방피트에 걸쳐 Bridgepark Plaza, Mercantile West, Mercantile East, Terrace Shops, Sendero Marketplace를 포함합니다.
이 센터들은 97%의 임대율을 자랑하며, 식료품 매출은 평방피트당 약 800달러에 달합니다. 이번 거래는 단위당 72달러에 발행된 운영 파트너십 유닛, 1억 5천만 달러의 담보 모기지 부채(이자율 4.2%) 인수, 그리고 700만 달러 현금으로 자금이 조달되었습니다. 이번 인수는 Regency의 2025년 핵심 영업 이익에 긍정적인 영향을 미칠 것으로 예상됩니다.
Regency Centers (NYSE:REG) a finalisé l'acquisition d'un portefeuille de 357 millions de dollars comprenant cinq centres commerciaux de premier plan dans le comté d'Orange, en Californie. Ce portefeuille, situé au sein de la communauté planifiée de Rancho Mission Viejo, s'étend sur 630 000 pieds carrés et comprend Bridgepark Plaza, Mercantile West, Mercantile East, Terrace Shops et Sendero Marketplace.
Les centres affichent un taux d'occupation de 97% avec des ventes alimentaires avoisinant les 800 dollars par pied carré. La transaction a été financée par une combinaison d'unités de partenariat opérationnel émises à 72 dollars par unité, la prise en charge de 150 millions de dollars de dette hypothécaire garantie à un taux d'intérêt de 4,2% et 7 millions de dollars en liquidités. Cette acquisition devrait contribuer positivement aux bénéfices opérationnels de base de Regency en 2025.
Regency Centers (NYSE:REG) hat den Erwerb eines Portfolios im Wert von 357 Millionen US-Dollar abgeschlossen, das fünf erstklassige Einkaufszentren im Orange County, Kalifornien, umfasst. Das Portfolio befindet sich innerhalb der geplanten Gemeinde Rancho Mission Viejo und erstreckt sich über 630.000 Quadratfuß. Es umfasst Bridgepark Plaza, Mercantile West, Mercantile East, Terrace Shops und Sendero Marketplace.
Die Zentren weisen eine Belegungsrate von 97% auf, mit Lebensmittelumsätzen von nahezu 800 US-Dollar pro Quadratfuß. Die Transaktion wurde durch eine Kombination aus ausgegebenen Betriebspartnerschaftseinheiten zu 72 US-Dollar pro Einheit, Übernahme von 150 Millionen US-Dollar gesicherten Hypothekenschulden mit einem Zinssatz von 4,2% sowie 7 Millionen US-Dollar in bar finanziert. Es wird erwartet, dass die Akquisition die Kernbetriebsergebnisse von Regency im Jahr 2025 steigert.
- Portfolio is 97% leased with strong grocery sales of $800 per square foot
- Strategic expansion in supply-constrained Orange County market
- Strong demographic profile with $200,000 average household income in 3-mile radius
- Transaction expected to be accretive to 2025 Core Operating Earnings
- Favorable debt terms with 4.2% weighted average interest rate
- Significant debt assumption of $150 million in secured mortgage debt
- Potential integration costs and operational adjustments for five new centers
Insights
Regency Centers' $357M Orange County portfolio acquisition bolsters presence in high-income area with 97% leased properties yielding immediate earnings accretion.
Regency Centers has strategically expanded its footprint in one of California's most affluent markets through this
The transaction structure reveals sophisticated capital allocation strategy. By utilizing OP units at
The deal's immediate accretion to 2025 Core Operating Earnings indicates positive short-term financial impact. More importantly, the acquisition aligns with growing consumer preference for convenience-oriented, grocery-anchored retail in affluent suburban communities – a retail segment that has demonstrated resilience against e-commerce disruption. The portfolio's focus on needs-based tenants, particularly grocery, restaurant, health and wellness ensures sustainable foot traffic and revenue streams regardless of broader retail trends.
Strategically, this consolidates Regency's position in a supply-constrained coastal market where new development opportunities are scarce, creating substantial barriers to entry for competitors and potential for above-average NOI growth as leases renew in this high-income area.
JACKSONVILLE, Fla., July 24, 2025 (GLOBE NEWSWIRE) -- Regency Centers Corporation (“Regency,” “Regency Centers” or the “Company”) today announced the acquisition of a portfolio of five premier suburban shopping centers, all located within the 23,000-acre Rancho Mission Viejo (“RMV”) master-planned community in Orange County, CA. The acquired portfolio consists of Bridgepark Plaza, Mercantile West, Mercantile East, Terrace Shops, and Sendero Marketplace, comprising close to 630,000 square feet in aggregate.
“We are excited to expand Regency’s presence within this thriving Orange County community and to add these high-quality centers to our best-in-class operating platform,” said John Mehigan, Senior Vice President of Investments in the West Region. “The addition of this portfolio enhances our position within one of the most supply-constrained coastal markets in the U.S.”
The centers are seamlessly integrated into the surrounding community and are merchandised with a robust line-up of needs-based tenants, including highly productive grocers, restaurants, and health, wellness, and personal service uses. The portfolio is
“This acquisition strategically aligns with Regency’s capital allocation objectives, including accretion to earnings, quality and growth,” said Nick Wibbenmeyer, West Region President and Chief Investment Officer. “Additionally, our structure as an UPREIT and ability to issue OP units provided flexibility for the sellers in structuring the transaction.”
Regency funded the
BofA Securities served as financial advisor and EY served as tax advisor to the seller. The seller was advised on legal matters by Latham & Watkins. Regency Centers was advised on legal matters by Paul Hastings.
About Regency Centers
Regency Centers is a preeminent national owner, operator, and developer of shopping centers located in suburban trade areas with compelling demographics. Our portfolio includes thriving properties merchandised with highly productive grocers, restaurants, service providers, and best-in-class retailers that connect to their neighborhoods, communities, and customers. Operating as a fully integrated real estate company, Regency Centers is a qualified real estate investment trust (REIT) that is self-administered, self-managed, and an S&P 500 Index member. For more information, please visit RegencyCenters.com.
Forward-Looking Statements
Certain statements in this release regarding anticipated financial, business, legal or other outcomes, including business and market conditions, outlook and other similar statements relating to Regency’s future events, developments, or financial or operational performance or results, such as the expectations for 2025 Core Operating Earnings per share, are “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward-looking statements are identified by the use of words such as “may,” “will,” “could,” “should,” “would,” “expect,” “estimate,” “believe,” “intend,” “forecast,” “project,” “plan,” “anticipate,” “guidance,” and other similar language. However, the absence of these or similar words or expressions does not mean a statement is not forward-looking. While the Company believes these forward-looking statements are reasonable when made, forward-looking statements are not guarantees of future performance or events and undue reliance should not be placed on these statements. Although the Company believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, the Company can give no assurance these expectations will be attained, and it is possible actual results may differ materially from those indicated by these forward-looking statements due to a variety of risks and uncertainties.
The Company’s operations are subject to a number of risks and uncertainties including, but not limited to, those risk factors described in its Securities and Exchange Commission (“SEC”) filings, including, without limitation, the Annual Report on Form 10-K for the year ended December 31, 2024 under Item 1A, as supplemented by the discussion in Item 1A of Part II of the Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2025. When considering an investment in the Company’s securities, you should carefully read and consider these risks, together with all other information in the Company’s Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and other filings and submissions to the SEC. If any of the events described in the risk factors actually occur, the Company’s business, financial condition or operating results, as well as the market price of its securities, could be materially adversely affected. Forward-looking statements are only as of the date they are made, and Regency undertakes no duty to update its forward-looking statements, whether as a result of new information, future events or developments or otherwise, except as to the extent required by law.
Eric Davidson (Media)
904 598 7829
EricDavidson@RegencyCenters.com
Kathryn McKie (Investors)
904 598 7348
KathrynMcKie@regencycenters.com
This press release was published by a CLEAR® Verified individual.
FAQ
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