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Regency Centers, Equity One merge in $15 billion deal


Regency Centers, a major player in grocery-anchored centers with 307 properties, and Equity One, owner of 98 retail properties, have signed an agreement to merge. Regency will continue as the surviving public company and, it claims, assume the position as the largest shopping center real estate investment trust.

The combined company is expected to have a total market capitalization of approximately $15.6 billion.

“Shareholders of both companies are poised to benefit from an expanded presence in top metro areas, a higher organic growth profile, expanded development and redevelopment program, and greater tenant diversity,” said Martin E. “Hap” Stein, Jr., chairman and CEO of Regency (above). “Through this transaction, we are creating the nation’s preeminent shopping center REIT.”

The transaction, which was approved by the boards of both companies, will create a national portfolio of 429 properties encompassing in excess of 57 million sq. ft.

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