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Article: Regency Centers & Macquarie CountryWide to Acquire CalPERS/First Washington Portfolio.
- Article from:
- Business Wire
- Article date:
- February 14, 2005
CopyrightCOPYRIGHT 2005 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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JACKSONVILLE, Fla. -- Regency Centers Corporation (NYSE:REG) announced today that it and its joint venture partner, Macquarie CountryWide Trust of Australia, have entered into a definitive agreement to purchase 101 retail centers totaling approximately 13 million square feet from CalPERS/First Washington ("First Washington"). The transaction, valued at approximately $2.74 billion, has been approved by each partners' board of directors and is expected to close in the second quarter.
The Macquarie CountryWide-Regency venture ("Venture") for this investment will be owned 65% by Macquarie CountryWide and 35% by Regency. The Venture intends to fund the acquisition ...