The interest consists of an 18.9-acre parcel in Anaheim, which is located at the intersection of Imperial Highway and Santa Ana Canyon. Regency originally planned to build a retail center here, according to Tom McDonough, senior vice president of investments for Regency's Southern California region. "We soon discovered that community support for a retail project would not be granted and at that point, decided to move forward with selling the property," he explains.

National homebuilder D.R. Horton has acquired the parcel and plans to build 106 upscale, single-family homes on it.

Graham Weiss of San Diego-based GW Realty Co. acted on behalf of D.R. Horton. Regency Center was represented in-house.

Jacksonville, FL-based Regency Centers is the leading national owner, operator and developer of grocery anchored neighborhood retail centers. The company currently owns and operates 268 retail properties, which encompass a total of more than 28 million sf. The properties are scattered throughout 23 states in key markets such as Atlanta, Dallas, Denver, Los Angeles, and Seattle.

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