Exhibit 12.3
Regency Realty Corporation
Ratio of Earnings to Fixed Charges
09/30/00
Net income 89,351
Adjust for:
Minority interest 666
Equity in net income of joint venture (2,865)
(Gain) loss on sale or real estate (18)
Plus fixed charges 79,421
Plus distributions from equity JV's -
Less preferred stock/unit dividend (21,232)
Less capitalized interest (8,873)
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Earnings 136,450
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Preferred stock/unit dividend 21,232
Interest expense (including amount of loan costs
and debt premium) 49,316
Capitalized interest 8,873
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Total fixed charges 79,421
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Ratio 1.7
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