SECURITIES AND EXCHANGE
COMMISSION
UNITED STATES
Washington, DC 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) November 11, 2009
REGENCY CENTERS
CORPORATION
(Exact name of registrant as specified in its charter)
Florida | 001-12298 | 59-3191743 |
(State or other jurisdiction | (Commission | (IRS Employer |
of incorporation) | File Number) | Identification No.) |
One Independent Drive, Suite 114 | 32202 |
Jacksonville, Florida | |
(Address of principal executive offices) | (Zip Code) |
Registrants telephone number including area code: (904)-598-7000
Not Applicable
(Former
name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230 .425) |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
On November 11, 2009, Regency Centers Corporations operating partnership, Regency Centers, L.P., elected to exercise its options to acquire from Macquarie CountryWide (US) No. 2 LLC an additional 15% interest in the Macquarie CountryWide-Regency II, LLC joint venture and provided the required notice to the joint ventures partners. The option exercise is expected to close on or about December 1, 2009. Upon exercise of the option, Regency will own 40% of the joint venture. A copy of the press release is furnished as Exhibit 99.1 to this report and is incorporated herein by reference.
(d) Exhibits
Exhibit 99.1 Press Release of Regency Centers Corporation dated November 11, 2009.
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Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
REGENCY CENTERS CORPORATION | |
(registrant) | |
November 11, 2009 |
By: /s/ J. Christian Leavitt |
J. Christian Leavitt, Senior Vice President | |
Finance and Principal Accounting Officer |
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Press Release
www.RegencyCenters.com | CONTACT: LISA PALMER |
(904) 598-7636 |
Jacksonville, Fla. (November 11, 2009) Regency Centers Corporation announced today it has notified Macquarie CountryWide (MCW) that the Company will exercise its options to increase its interest in Macquarie CountryWide-Regency II, LLC (MCW II), an existing co-investment partnership between Global Retail Investors LLC (GRI), Regency and MCW that currently owns 86 retail shopping centers across the country.
In July 2009, GRI, a joint venture between the California Public Employees Retirement System (CalPERS) and an affiliate of First Washington Realty, Inc., agreed to purchase the majority of MCWs interest in MCW II. At that time, the partnership was valued at $1.73 billion for the transaction. The first phase of the transaction which involved the sale of 45% of the partnership to GRI closed July 31, 2009. The second phase in which an additional 15% of the partnership will be sold by MCW to GRI is scheduled to close upon receipt of lender consents required under certain of the partnerships property-level loans. As part of the agreement, Regency acquired two options to purchase the remainder of MCWs interest (up to 15% in total) at a 7.7% discount.
Expected closing of the increased interest is December 1, 2009. With the closing, Regencys ownership in MCW II will increase to 40%. Regency will remain the managing member of the partnership and retain management and leasing responsibilities.
Regency is the leading national owner, operator, and developer of grocery-anchored and community shopping centers. At September 30, 2009, the Company owned 409 retail properties, including those held in co-investment partnerships. Including tenant-owned square footage, the portfolio encompassed 54.1 million square feet located in top markets throughout the United States. Since 2000 Regency has developed 194 shopping centers, including those currently in-process, representing an investment at completion of $3.0 billion. Operating as a fully integrated real estate company, Regency is a qualified real estate investment trust that is self-administered and self-managed.
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Forward-looking statements involve risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements. Please refer to the documents filed by Regency Centers Corporation with the SEC, specifically the most recent reports on forms 10K and 10Q, which identify important risk factors which could cause actual results to differ from those contained in the forward-looking statements.