JACKSONVILLE, FL-Expanding its previously established jointventure with Macquarie Countrywide Trust of Australia, RegencyCenters Corp., based here, has closed a $55.3 million deal byselling and contributing five grocery-anchored shopping centerstotaling 439,422 sf to the trust.

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The price equates to $125.84 per sf and represents a first-yearyield of 8.4%, according to the REIT. Regency will retain a 25%ownership interest in the properties and will manage the assets forthe joint venture.

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The properties are the 63,871-sf Lynn Haven Shopping Center inPanama City, FL, anchored by Publix; the 150,356-sf HillsboroMarket in Portland, OR, anchored by Albertson's; the 113,216-sfCenter Killian Hill Shopping Center in Atlanta, anchored by Publix;the 36,887-sf Rosewood Shopping Center in Columbia, SC, anchored byPublix; and the 75,092-sf Center Southgate Village Shopping Centerin Birmingham, AL, anchored by Publix.

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The five-property acquisition increases the trust's portfolio to20 centers with a total investment of about $230 million, Regencysays. The REIT claims it is the leading national owner, operatorand developer focused on grocery-anchored, neighborhood retailcenters.

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As of March 31 of, Regency owned 261 retail properties totaling29.5 million sf located in high-growth markets throughout theUS.

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