FREIT entered into a Purchase and Sale Agreement with an affiliate of Regency Centers to sell 100% of its interest in the Franklin Crossing shopping center in Franklin Lakes, New Jersey, for $27.0 million. Signed on April 8, 2026, the transaction closed on July 8, 2026, generating approximately $25.4 million in net proceeds and an estimated $19.5 million net gain. The sale supports FREIT’s strategy to recycle capital and optimize its portfolio.
Agreement details:
- Agreement type: Purchase and Sale Agreement for Franklin Crossing shopping center
- Counterparty: Regency Centers (affiliate)
- Signed / Effective: Apr 08 2026 / same
- Reason: Recycle capital and streamline retail portfolio
Original SEC Filing:
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