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Regency Moves 3 Centers into OPERF JV for $83M

SALEM, OR-The centers are located in Florida and Virginia. The price represents a weighted average cap rate of 7.14%.

By Brian K. Miller | Updated on October 05, 2008

SALEM, OR-Regency Centers said Friday it has moved three of its retail centers into its co-investment partnership with the Oregon Public Employees Retirement Fund. Located in Florida and Virginia, the centers were valued at $83.4 million for the transaction, which represents a weighted average cap rate of 7.14%, according to the Jacksonville, FL-based mall REIT.

The centers involved in the transaction are John’s Creek Center, a Publix-anchored center in Jacksonville, FL; Signal Hill Shopping Center, a Shoppers Food Warehouse-anchored center in Manassas, VA, and; Hollymead Town Center, a Harris Teeter and Target-anchored center in Charlottesville, VA.

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