Davis Polk acted as counsel to an affiliate of the counterparty in connection with the execution of a forward sale agreement with Regency Centers Corporation relating to 3,100,000 shares of Regency’s common stock. In connection with the forward sale agreement, the agent for its affiliate, borrowed an equal number of shares of Regency’s common stock from third parties and sold these shares to the underwriter of an SEC-registered offering of such shares of Regency’s common stock. The net proceeds of the offering (assuming physical settlement of the forward sale agreement at the initial forward sale price) are expected to be approximately $232.2 million.

Regency Centers Corporation is a real estate investment trust that owns direct or partial interests in shopping centers, the majority of which are grocery-anchored community and neighborhood centers.

The Davis Polk equity derivatives team included partner Mark M. Mendez and associates Mark J. DiFiore and Caitlin L. Wood. The tax team included partner Michael Farber and associate Catherine L. Chu. All members of the Davis Polk team are based in the New York office.

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