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Regency Offers 8.7M Common Shares

JACKSONVILLE, FL-The retail REIT expects to net $269 million for debt and corporate purposes.

By Carl Cronan | Updated on April 21, 2009

JACKSONVILLE, FL-Regency Centers Corp. has priced its offer of 8.7 million shares of its common stock at $32.50 per share. The locally based REIT, which owns grocery-anchored and community shopping centers nationally, expects to raise $269 million in net proceeds that will be used to repay debt and for general corporate purposes.

Underwriters of the offering, J.P. Morgan Securities Inc. and Wachovia Capital Markets LLC, have a 30-day option to buy up to an additional 1.3 million shares to cover any over-allotments. The offering is expected to close by the end of this week.

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