Fairfield-based Kleban Properties announced it has agreed to establish a partnership with Regency Centers Corp. of Jacksonville, Fla.
Regency, a real estate investment trust and national owner of high-end retail properties with total market capitalization of $6.7 billion as of Sept. 30, will partner with Kleban in “some of its existing properties in Fairfield.” More specifically, the proposed partnership will focus on “the continued improvement and expansion of Fairfield properties.”
Transaction details are expected at a later date and no specific sites were mentioned.
“Kleban Properties is elated with the potential this partnership brings as it continues to expand opportunities in Fairfield and other dynamic locations,” said Al Kleban, founder of Kleban Properties. “Having a partner with such great credentials is a reward for many years of diligence and creative development. It is also recognition of the dynamic opportunities the town of Fairfield presents.”
The HFF investment sales team representing Kleban Properties was led by Rob Rizzi from HFF’s New York City office.
Kleban recently won praise from the civic and education spheres for its efforts to provide Fairfield University with a physical space for its new business incubator.