April 17, 2009 (FinancialWire) — Weingarten Realty Investors (NYSE: WRI) is offering 25.5 million common shares in a registered public offering. Merrill Lynch & Co. (NYSE: MER) and J.P.Morgan (NYSE: JPM) are acting as joint book-running managers.

The company plans to grant the underwriters an option to purchase up to 3.825 million additional shares.

Weingarten plans to use the net proceeds from the sale of the common shares to reduce borrowings outstanding on its revolving credit facility and for general corporate purposes, including the repayment or repurchase of outstanding indebtedness.

Houston-based Weingarten Realty Investors is a commercial real estate owner, manager and developer. At March 31, the company owned or operated under long-term leases, either directly or through its interest in real estate joint ventures or partnerships, a total of 382 developed income-producing properties and 25 properties under various stages of construction and development.

The total number of properties includes 323 neighborhood and community shopping centers located in 22 states spanning the country from coast to coast. Weingarten also owns 81 industrial projects located in California, Florida, Georgia, Tennessee, Texas and Virginia and three other operating properties located in Arizona and Texas.

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