Regency Centers Announces Residential Partner for East San Marco

JACKSONVILLE, Fla.--(BUSINESS WIRE)--

Regency Centers, REG a national owner, operator, and developer of grocery-anchored shopping centers, has announced its partnership with ArchCo Residential, Whitehall Realty Partners, and Bluerock Residential Growth REIT, Inc. on their East San Marco development in Jacksonville, Florida. Anchored by Publix, this 4.33 acre mixed-use project is planned to be the ideal live, work, and play environment for the vibrant neighborhood of San Marco. Construction is scheduled to begin late this summer.

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"Making sure we had the right players for the project was of utmost importance moving forward," said Jim Thompson, Executive Vice President of Operations for Regency Centers. "ArchCo has a stellar track record and was the perfect choice to handle the residential operations of what we are hoping will become a powerful addition to an already great neighborhood. Having Publix as our anchor will enable us to bring in the right merchandising mix that will really reflect the lifestyles and interests of the surrounding area. They are extremely well-respected for their quality of operations, and we couldn't be more proud to have them as involved as they have been."

ArchCo Residential and co-developer Whitehall Realty Partners will be responsible for the overall construction of the project. Jacksonville based Whitehall has led local efforts and will continue in that role for the duration of the development. Upon completion, ArchCo and its partner Bluerock will own and manage the residential portion of East San Marco. Regency will own and operate the retail elements of the center.

Neil Brown, CEO of ArchCo Residential said, "ArchCo is proud to be part of this exciting project and to be partnering with Regency Centers, Publix, and Bluerock. A mixed-use development of this type creates synergy between the residential and retail which in turn will provide great benefit to the community." Jim Babb, Bluerock's Chief Investment Officer, added, "East San Marco is one of several projects planned under the BRG/ArchCo venture. It is well located within the San Marco neighborhood of Jacksonville and allows us to leverage ArchCo's deep and seasoned management team and access proprietary opportunities to deliver strong returns to our investors."

Located at the intersection of Atlantic Boulevard and Mango Place in the historic San Marco community, East San Marco will include 46,000 square feet of retail, including a 32,500 square foot Publix.

"We are excited about this project and for our loyal Publix customers. We've been committed to this site since 2006 and look forward to serving the beautiful San Marco community," said Publix spokesperson Dwaine Stevens.

Construction is slated to be complete in late 2018. More retailer announcements will be made available as they occur. For more information, please contact Eric Davidson at EricDavidson@RegencyCenters.com, or Jim Thompson at JimThompson@RegencyCenters.com.

About Publix

Publix is privately owned and operated by its 179,000 employees, with 2014 sales of $30.6 billion. Currently Publix has 1,111 stores in Florida, Georgia, Alabama, Tennessee, South Carolina and North Carolina. The company has been named one of FORTUNE's "100 Best Companies to Work For in America" for 18 consecutive years. In addition, Publix's dedication to superior quality and customer service is recognized among the top in the grocery business. For more information, visit the company's website, corporate.publix.com.

About ArchCo Residential

ArchCo Residential was founded in 2013 by Neil Brown to pursue multifamily development opportunities in select markets across the United States. Many of the principles that guide ArchCo Residential were derived from Archstone where Mr. Brown spent more than 17 years culminating in serving as Chief Development Officer from 2010 until the company was acquired by Equity Residential and AvalonBay Communities in February 2013. Archstone was one of the most successful apartment companies in the nation and, at the time that it was acquired, it was one of the largest owners of high-quality apartment communities in the United States. ArchCo Residential's experienced and proven development team has a long, successful track record and, in a short time, has built a robust development pipeline. ArchCo's team members have an average of more than 30 years of real estate development experience extending through several real estate cycles.

About Bluerock Residential Growth REIT, Inc.

Bluerock Residential Growth REIT, Inc. (NYSE MKT: BRG) is a real estate investment trust that focuses on acquiring a diversified portfolio of Class A institutional-quality apartment properties in demographically attractive growth markets to appeal to the renter by choice. The Company's objective is to generate value through off-market/relationship-based transactions and, at the asset level, through improvements to operations and properties. BRG generally invests with strategic regional partners, including some of the best-regarded, private owner-operators in the United States, making it possible to operate as a local sharpshooter in each of its markets while enhancing off-market sourcing capabilities. The Company is listed on the Russell 2000 and Russell 3000 Indexes. For more information, please visit our website at: www.bluerockresidential.com.

About Regency Centers Corporation REG

With more than 50 years of experience, Regency is the preeminent national owner, operator, and developer of high-quality, grocery-anchored neighborhood and community shopping centers. The Company's portoflio of 318 retail properties encompasses over 42.8 million square feet located in top markets throughout the United States, including co-investment partnerships. Regency has developed 221 shopping centers since 2000, representing an investment at completion of more then $3 billion. Operating as a fully integrated real estate company, Regency is a qualified real estate investment trust that is self-administered and self-managed.

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