Regency Centers Completes $357M Portfolio Acquisition in Southern California (Form 8-K)

Regency Centers Completes $357M Portfolio Acquisition in Southern California

JACKSONVILLE, Fla. July 24, 2025 - 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 96% occupied with grocer sales approaching $800 per square foot, and demographic trends in the community are strong including 3-mile average household income of approximately $200,000.

"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 $357 million purchase price with a combination of operating partnership ("OP") units issued at $72 per unit, the assumption of $150 million of secured mortgage debt, and $7 million in cash used to pay off a single secured loan. The assumed debt has a weighted average interest rate of 4.2% and term to maturity of approximately 12 years. The transaction is expected to be accretive to Regency's 2025 Core Operating Earnings per share. More details will be provided with the release of second quarter 2025 earnings results on Tuesday, July 29, 2025.

BofA Securities served as transaction 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.