Regency Centers (REG) announced the completion of its previously announced acquisition of Urstadt Biddle Properties (UBA, UBP) in an all-stock transaction. The combined company has a total equity market capitalization of more than $11B and an enterprise value of more than $16B. The transaction grows Regency’s footprint of high-quality, grocery-anchored shopping centers in premier suburban trade areas, and is expected to be immediately accretive to Core Operating Earnings while maintaining Regency’s liquidity and balance sheet flexibility and strength. The newly-combined portfolio is comprised of 480 properties encompassing more than 56 million square feet of gross leasable area.
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