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Gazit Globe affiliate sells Regency Centers shares for $121M

An affiliate of Israeli real estate company Gazit Globe Ltd. sold 2,150,113 shares of shopping center landlord Regency Centers Corp. for about $121 million, continuing a trend.

The shares were sold by MGN America 2016 LLC. Following the sale, MGN America beneficially owns 1,531,334, or 0.9%, of Regency's shares, and Gazit Globe beneficially owns 11,650,075, or 6.9%, of Regency's shares, according to a May 21 filing.

Gazit Globe recently reduced its stake in Regency to about 8.2%.