Jacksonville, Florida-based Regency Centers Corp. (NASDAQ:REG) announced the completion of its acquisition of Greenwich-headquartered Urstadt Biddle Properties Inc. (NYSE: UBA, UBP) in an all-stock transaction valued at $1.4 billion.
The combined company has a total equity market capitalization of more than $11 billion and an enterprise value of more than $16 billion, along with a portfolio including 481 properties encompassing more than 56 million square feet.
“We are proud of this transaction and excited to start unlocking the synergies and growth opportunities that we expect this combination to provide,” said Lisa Palmer, president and CEO of Regency. “These centers align well with Regency”™s portfolio strategy and meaningfully expand our presence in strong trade areas in the Northeast.”
