Regency Centers repays $265M term loan, outlines property transactions

Regency Centers Corp. repaid its $265 million term loan due January 2022 through available cash resulting in no unsecured debt maturities until 2024.

The real estate investment trust also terminated interest rate swap contracts for a $2.5 million early extinguishment of debt charge recognized in the fourth quarter of 2020.

Regency Centers sold five shopping centers for a combined gross sales price of $77.8 million at the REIT's share during the fourth quarter.

Aside from the sale of the 96,000-square-foot Stonebrook Plaza shopping center in Chicago, the shopping center REIT also sold the 80,000-square-foot Old Connecticut Path shopping center in Boston and the 108,000-square-foot South Bay Village shopping center in Los Angeles.

Grocery-anchored centers Stonebrook Plaza and Old Connecticut Path were owned by the REIT through two separate joint ventures, on which the company owned 40% and 30% of the partnerships, respectively.

The REIT also sold three land parcels for a combined gross sales price of $8.1 million at the company's share during the fourth quarter.