SECURITIES AND EXCHANGE COMMISSION
UNITED STATES
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) November 3, 2000
REGENCY REALTY CORPORATION
(Exact name of registrant as specified in its charter)
Florida 1-12298 59-3191743
(State or other jurisdiction Commission (IRS Employer
of incorporation) File Number) Identification No.)
121 West Forsyth Street, Suite 200
Jacksonville, Florida 32202
(Address of principal executive offices) (Zip Code)
Registrant's telephone number including area code: (904)-356-7000
Not Applicable
(Former name or former address, if changed since last report)
<PAGE>
Item 9. Regulation FD Disclosure
The following information shall not be deemed "filed" for purposes of
Section 18 or otherwise under the Securities Exchange Act of 1934 and shall not
be deemed incorporated by reference into any filing previously or subsequently
made by us under that Act or under the Securities Act of 1933.
<PAGE>
INVESTOR RELATIONS
Lesley Stocker
121 W. Forsyth St., Suite 200
Jacksonville, FL 32202
(904) 351-0675
www.regencyrealty.com
<PAGE>
Regency
Realty
------------------------------------------------------------------------------
Supplemental Information
September 30, 2000
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TABLE OF CONTENTS
FINANCIAL INFORMATION:
Summary Financial Information..................................................1
Net Income - Regency Realty Corporation........................................2
Funds from Operations and Cash Available for Distribution......................3
Basic and Diluted Per Share Calculation (net income and FFO)...................4
Net Income - Regency Centers, L.P..............................................5
Balance Sheets - Regency Realty Corporation and Regency Centers, L.P.........6-7
Outstanding Debt Summary.....................................................8-9
Shopping Center Acquisitions .................................................10
Shopping Center Development................................................11-12
Unconsolidated Real Estate Investments in Joint Ventures......................13
Securities Issued Other than Common Stock.....................................14
REAL ESTATE INFORMATION:
Summary Real Estate Information...............................................15
Real Estate Status Report..................................................16-23
Significant Tenant Rents...................................................24-25
10 Year Lease Expiration Table.............................................26-27
<PAGE>
<TABLE>
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Regency Realty
Summary Financial Information
For the Periods Ended September 30, 2000 and 1999
------------------------------------------------------------------------------------------------------------------------------------
Financial Results
------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Three Months Ended Year to Date
------------------------ ---------------------------
2000 1999 2000 1999
Actual Actual Actual Actual
------ ------ ------ ------
<S> <C> <C> <C> <C>
Funds from Operations (FFO) $39,706,574 $38,355,667 $114,658,647 $99,696,362
FFO per share - Basic $0.67 $0.62 $1.95 $1.83
FFO per share - Diluted $0.66 $0.61 $1.91 $1.78
Cash available for Distribution (CAD) (a) -- -- $105,425,768 $89,240,116
CAD per share - Diluted -- -- $1.75 $1.59
EBITDA (and non-recurring real estate gains) $66,975,736 $56,350,454 $189,501,218 $150,144,941
EBITDA per share - Diluted $1.11 $0.89 $3.15 $2.68
Net Income for common stockholders $23,881,230 $23,965,485 $60,919,298 $61,751,031
Basic EPS $0.42 $0.40 $1.07 $1.16
Diluted EPS $0.42 $0.40 $1.07 $1.16
Dividends paid per share and unit $0.480 $0.460 $1.440 $1.380
Payout ratio of Diluted FFO per share 72.7% 75.8% 75.5% 77.4%
Payout ratio of Diluted CAD per share -- -- 82.1% 86.5%
Coverage Ratios (based on EBITDA)
Interest only 3.1 2.9 3.1 2.9
Fixed Charge (debt svc + preferred dividends) 2.0 2.4 2.1 2.4
Capitalized Interest $2,911,469 $3,549,864 $8,872,541 $7,485,023
<CAPTION>
---------------------------------------------------------------------------- -------------- ---------------- --------------
Capital Information Current YTD Change 12/31/99 12/31/98
---------------------------------------------------------------------------- -------------- ---------------- --------------
<S> <C> <C> <C> <C>
Closing common stock price per share $22.94 $2.94 $20.00 $22.25
52 Week High $24.00 $23.13 $28.00
52 Week Low $18.31 $18.75 $20.25
============ =============== ==============
YTD Shareholder Return 21.9%
Common shares and Equivalents Outstanding 60,085,321 (403,463) 60,488,784 29,825,853
Market equity value of Common and Convertible $1,378,207 $168,431 $1,209,776 $663,625
Perpetual Preferred Units $384,000 $94,000 $290,000 $80,000
Outstanding debt (000's) $1,199,734 $187,767 $1,011,967 $548,126
----------- -------------- --------------
Total market capitalization (000's) $2,961,941 $450,198 $2,511,742 $1,291,751
Debt to Total Market Capitalization 40.5% 40.3% 42.4%
=========== ============== ==============
Total real estate investments at cost (000's) $2,899,593 $263,400 $2,636,193 $1,250,332
Debt to Real Estate Investments, at Cost 41.4% 38.4% 43.8%
Debt to Total Assets, at Cost before Depreciation 39.6% 36.7% 42.2%
=========== ============== ==============
Outstanding Classes of Stock and Partnership Units:
Common Shares Outstanding 56,913,182 -- 56,923,685 25,488,989
Common share equivalents of Class B common 0 -- 0 2,975,468
Redeemable O.P Units held by minority interests 1,684,632 -- 2,077,554 1,361,396
Convertible Series 1 and 2 Preferred Stock 1,487,507 1,487,545 0
----------- -------------- --------------
Total Common Shares & Equivalents 60,085,321 -- 60,488,784 29,825,853
=========== ============== ==============
</TABLE>
(a) includes all capitalized costs on all operating properties not undergoing
development or significant revenue enhancing redevelopment.
1
<PAGE>
<TABLE>
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Regency Realty
Consolidated Statements of Operations
For the Periods Ended September 30, 2000 and 1999
------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Three Months Ended Year to Date
----------------------- -----------------------
2000 1999 2000 1999
Actual Actual Actual Actual
------ ------ ------ ------
<S> <C> <C> <C> <C>
Real Estate Revenues:
Minimum rent $65,487,039 $59,410,015 $189,389,963 $157,352,236
Percentage rent 325,785 291,303 1,378,246 1,179,302
Recoveries and other tenant related income 17,999,790 14,664,161 51,081,827 39,042,943
-------------- ------------- ------------- -------------
83,812,614 74,365,479 241,850,036 197,574,481
-------------- ------------- -------------- -------------
Real Estate Expenses:
Operating and maintenance 11,992,681 10,733,732 33,095,724 27,602,063
Real estate taxes 9,004,241 7,835,440 25,326,122 20,073,559
-------------- ------------- --------------- -------------
20,996,922 18,569,172 58,421,846 47,675,622
-------------- ------------- -------------- -------------
Net Operating Income 62,815,692 55,796,307 183,428,190 149,898,859
-------------- ------------- --------------- -------------
Third Party Revenues:
Development for sale profits, net of tax 3,739,961 2,915,989 9,986,196 4,886,206
Management fees and commission income 356,697 575,481 1,177,286 3,299,075
Gains on sales of outparcels 1,094,359 148,195 2,474,564 670,006
-------------- ------------- ---------------- ------------
5,191,017 3,639,665 13,638,046 8,855,287
-------------- ------------- ---------------- ------------
Other Expenses (Income):
General and administrative 4,996,685 4,795,323 13,253,951 13,576,216
Depreciation & amortization 14,776,780 13,112,164 43,163,768 34,893,216
Interest expense and loan cost amortization 18,791,545 15,575,115 52,681,417 43,567,458
Interest (income) (1,160,925) (491,730) (2,823,483) (1,612,733)
Reserve for estimated loss on sale of operating properties 0 0 6,909,625 0
Loss (gain) on sale of operating properties 0 0 (18,310) 0
-------------- ------------- -------------- -------------
37,404,085 32,990,872 113,166,968 90,424,157
-------------- ------------- --------------- -------------
Income before minority interests 30,602,624 26,445,100 83,899,268 68,329,989
Minority interests (income)
Equity income of unconsolidated partnerships (2,804,787) (1,218,075) (2,865,450) (3,354,278)
Redeemable operating partnership units 662,600 769,851 1,848,093 2,108,362
Limited partners interest in consolidated partnerships 186,203 (83,702) 666,518 663,331
-------------- ------------- ------------- -------------
Net income 32,558,608 26,977,026 84,250,107 68,912,574
Preferred dividends
Perpetual preferred unit distributions 7,977,919 2,334,376 21,232,432 5,584,378
Convertible preferred stock dividends 699,459 677,165 2,098,377 1,577,165
--------------- ------------ --------------- -------------
Net income for common shareholders $23,881,230 $23,965,485 $60,919,298 $61,751,031
=============== ============ =============== =============
</TABLE>
2
<PAGE>
<TABLE>
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Regency Realty
Consolidated Statements of Funds from Operations and Cash Available for Distribution
For the Periods Ended September 30, 2000 and 1999
------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Three Months Ended Year to Date
----------------------- ----------------------
2000 1999 2000 1999
Actual Actual Actual Actual
------ ------ ------ ------
<S> <C> <C> <C> <C>
Funds From Operations:
Net Income for common stockholders $23,881,230 $23,965,485 $60,919,298 $61,751,031
Plus (Less):
Depreciation expense - real property 13,829,910 12,640,050 41,272,660 33,467,947
Amortization of leasing commissions 633,374 308,784 1,628,903 791,857
Reserve for estimated loss on sale of operating properties 0 0 6,909,625 0
(Gain)/Loss - sale of operating properties 0 (5,668) (18,310) 0
Convertible preferred dividends 699,459 677,165 2,098,377 1,577,165
Minority interest of redeemable O.P. Units 662,601 769,851 1,848,094 2,108,362
-------------- ------------ -------------- ------------
Funds from Operations $39,706,574 $38,355,667 $114,658,647 $99,696,362
============== ============ ============== ============
Cash Available for Distribution:
Funds from Operations $114,658,647 $99,696,362
Plus (Less):
Straight-lining of rents adjustment (4,062,478) (3,635,496)
Amortization of Debt repricing premium on acquistions (1,504,282) (1,482,273)
Stock based compensation 4,837,737 1,800,000
Capitalized leasing commissions (Non Rev
Enhancing) - operating properties (4,025,932) (2,490,012)
Capital improvements (Non Rev Enhancing) - operating properties (7,425,411) (6,481,268)
--------------- -----------
Cash Available for Distribution $102,478,281 $87,407,313
============== ============
</TABLE>
3
<PAGE>
<TABLE>
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Regency Realty
Calculation of Earnings and FFO Per Share
For the Periods Ended September 30, 2000 and 1999
------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Three Months Ended Year to Date
----------------------- ----------------------
2000 1999 2000 1999
Actual Actual Actual Actual
------ ------ ------ ------
------------------------------------------------------------------------------------------------------------------------------------
Funds From Operations Per Share
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Funds from Operations for Basic FFO per share $38,344,515 $36,908,651 $110,712,177 $94,601,280
============= ============== ============== =============
Increases to Diluted FFO as a result of Dilutive CSE's
Class B and Convertible Preferred dividends $699,459 $677,165 $2,098,377 $2,986,720
"Down-REIT" Minority Interests with redeemable units $662,600 $769,851 $1,848,093 $2,108,362
-------------- ------------- -------------- -------------
Funds from Operations for Diluted FFO per share $39,706,574 $38,355,667 $114,658,647 $99,696,362
============== ============= ============== =============
FFO Per Share:
Basic $0.67 $0.62 $1.95 $1.83
Diluted $0.66 $0.61 $1.91 $1.78
------------------------------------------------------------------------------------------------------------------------------------
Earnings Per Share
------------------------------------------------------------------------------------------------------------------------------------
Net Income for Common Stockholders $23,881,230 $23,965,485 $60,919,298 $61,751,031
Less: Class B dividends not yet deducted $0 $0 $0 ($1,409,555)
------------- -------------- --------------- -------------
Net Income for Basic EPS $23,881,230 $23,965,485 $60,919,298 $60,341,476
============= ============== =============== =============
Add: "Down-REIT" minority interest
(if dilutive to EPS) $662,600 $769,851 $1,848,093 $2,108,362
------------- -------------- -------------- ------------
Net Income for Diluted EPS $24,543,830 $24,735,336 $62,767,391 $62,449,838
============= ============== ============== ============
Earnings Per Share:
Basic $0.42 $0.40 $1.07 $1.16
Diluted $0.42 $0.40 $1.07 $1.16
------------------------------------------------------------------------------------------------------------------------------------
Weighted Average Shares Outstanding
------------------------------------------------------------------------------------------------------------------------------------
Weighted Average Shares for Basic
Net Income and FFO Per Share 56,895,045 59,571,568 56,696,937 51,796,098
============= ============= ============== ============
Dilutive Common Stock Equivalents for EPS:
O.P. Unit equivalents after conversion to common 1,684,632 2,085,446 1,909,124 1,978,835
Compensation based stock options (Treasury Method) 103,445 4,933 45,210 3,592
--------------- ----------- --------------- -------------
Weighted Average Shares for Diluted EPS 58,683,122 61,661,947 58,651,271 53,778,525
=============== =========== =============== =============
Dilutive Common Stock Equivalents for FFO:
Class B common stock 0 0 0 995,469
Convertible Series 1 and 2 Preferred Stock 1,487,507 1,502,532 1,487,506 1,176,615
-------------- ------------ -------------- -------------
Weighted Average Shares for Diluted
Funds from Operations Per Share 60,170,629 63,164,479 60,138,777 55,950,609
============== ============ ============== =============
</TABLE>
4
<PAGE>
<TABLE>
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Regency Centers, L.P.
Consolidated Statements of Operations
For the Periods Ended September 30, 2000 and 1999
------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Three Months Ended Year to Date
----------------------- ----------------------
2000 1999 2000 1999
Actual Actual Actual Actual
------ ------ ------ ------
<S> <C> <C> <C> <C>
Real Estate Revenues:
Minimum rent $61,836,311 $55,853,324 $178,625,353 $146,693,434
Percentage rent 312,048 285,074 1,320,012 1,068,779
Recoveries and other tenant related income 17,197,337 13,870,288 48,641,418 36,706,100
------------- ------------- ------------- --------------
79,345,696 70,008,686 228,586,783 184,468,313
------------- ------------- ------------ --------------
Real Estate Expenses:
Operating and maintenance 11,283,875 10,019,568 31,018,696 25,486,950
Real estate taxes 8,623,109 7,440,862 24,160,988 18,888,961
-------------- ------------ ------------- --------------
19,906,984 17,460,430 55,179,684 44,375,911
-------------- ------------ ------------ --------------
Net Operating Income 59,438,712 52,548,256 173,407,099 140,092,402
-------------- ------------ ------------- --------------
Third Party Revenues:
Development for sale profits, net of tax 3,739,961 2,915,989 9,986,196 4,886,206
Management fees and commission income 356,697 575,480 1,177,286 3,299,075
Gains on sales of outparcels 1,094,359 148,195 2,474,564 670,006
-------------- ------------ -------------- -------------
5,191,017 3,639,664 13,638,046 8,855,287
-------------- ------------ -------------- -------------
Other Expenses (Income):
General and administrative 4,996,685 4,795,323 13,253,951 13,576,216
Depreciation & amortization 13,702,244 12,184,080 40,117,111 32,151,239
Interest expense and loan cost amortization 17,356,132 14,672,670 49,316,059 40,519,525
Interest (income) (1,144,983) (479,652) (2,776,206) (1,572,470)
Reserve for estimated loss on sale of operating properties 0 0 6,909,625 0
Loss (gain) on sale of operating properties 0 0 (18,310) 0
-------------- ------------ -------------- ------------
34,910,078 31,172,421 106,802,230 84,674,510
-------------- ------------ -------------- ------------
Income before minority interests 29,719,651 25,015,499 80,242,915 64,273,179
Minority interests (income)
Equity income of unconsolidated partnerships (2,804,787) (1,218,075) (2,865,450) (3,354,278)
Limited partners interest in consolidated partnerships 186,203 (83,702) 666,517 663,331
-------------- ------------ -------------- ------------
Net income 32,338,235 26,317,276 82,441,848 66,964,126
Preferred dividends
Perpetual preferred unit distributions 7,977,919 2,334,376 21,232,432 5,584,378
-------------- ------------ ------------- -------------
Net income for unitholders $24,360,316 $23,982,900 $61,209,416 $61,379,748
============== ============ ============= =============
</TABLE>
5
<PAGE>
<TABLE>
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Regency Realty
Balance Sheets
For the Periods Ended September 30, 2000 and 1999
------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Assets 2000 1999 1998
---- ---- ----
<S> <C> <C> <C>
Real Estate Investments, at cost:
Operating properties $2,450,651,362 2,401,953,304 1,183,184,013
Properties in development 258,683,760 167,300,893 36,517,574
-------------- ------------------ --------------
2,709,335,122 2,569,254,197 1,219,701,587
Operating properties held for sale 124,098,255 0 0
Less: accumulated depreciation 137,085,242 104,467,176 58,983,738
-------------- ------------------ ---------------
2,696,348,135 2,464,787,021 1,160,717,849
Investments in real estate partnerships 66,159,432 66,938,784 30,630,540
-------------- ------------------ ---------------
Net real estate investments 2,762,507,567 2,531,725,805 1,191,348,389
Cash & cash equivalents 36,870,913 54,117,443 19,919,693
Notes receivable 37,962,720 15,673,125 0
Tenant receivables, net of reserves 29,672,141 33,515,040 16,758,917
Deferred costs, net of amortization 18,340,711 12,530,546 6,872,023
Other assets 7,710,185 7,374,019 5,208,278
-------------- ----------------- ---------------
$2,893,064,237 2,654,935,978 1,240,107,300
============== ================= ===============
Liabilities and Stockholders' Equity
Fixed and variable secured mortgage loans 524,401,710 394,091,114 309,199,052
Unsecured fixed rate loans 370,331,834 370,696,093 121,295,858
Unsecured line of credit 305,000,000 247,179,310 117,631,185
-------------- ----------------- --------------
Total Notes Payable 1,199,733,544 1,011,966,517 548,126,095
-------------- ----------------- --------------
Tenant security and escrow deposits 8,413,577 7,952,707 3,110,370
Accounts payable & other liabilities 39,887,575 48,886,111 19,936,424
-------------- ----------------- --------------
Total Liabilities 1,248,034,696 1,068,805,335 571,172,889
-------------- ----------------- --------------
Exchangeable operating partnership units 35,125,451 44,589,873 27,834,330
Preferred units 375,438,252 283,816,274 78,800,000
Limited partners' interest in consolidated partnerships 6,514,687 10,475,321 11,558,618
-------------- ----------------- --------------
Total Minority Interests 417,078,390 338,881,468 118,192,948
-------------- ----------------- --------------
Stockholders' Equity
Series 1 and 2 convertible preferred stock 34,696,112 34,696,112 0
Common stock, $.01 par 601,981 596,395 254,889
Class B Common stock, $.01 par 0 0 25,000
Additional paid-in capital 1,250,786,848 1,249,720,998 578,466,708
Distributions in excess of net income (47,298,641) (26,779,538) (19,395,744)
Stock loans (10,835,149) (10,984,792) (8,609,390)
-------------- ----------------- --------------
Total Stockholders Equity 1,227,951,151 1,247,249,175 550,741,463
-------------- ----------------- --------------
$2,893,064,237 2,654,935,978 1,240,107,300
============== ================= ==============
<CAPTION>
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Other Summary Information - RRC
Year to Date 12 Months
2000 1999
---- ----
<S> <C> <C>
EBITDA 189,501,218 216,879,064
Fixed Charge Coverage Ratio 2.1 2.4
Interest Coverage Ratio 3.1 3.1
Debt to Real Assets, at cost before depreciation 41.4% 38.4%
Unsecured Assets to Total Real Estate Assets 73.9% 70.0%
Unsecured NOI to Total NOI 73.8% 69.1%
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
6
<PAGE>
<TABLE>
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Regency Centers, L.P
Balance Sheets
For the Periods Ended September 30, 2000 and 1999
------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Assets 2000 1999
---- ----
<S> <C> <C>
Real Estate Investments, at cost:
Operating properties $2,308,370,196 2,261,695,169
Properties in developments 258,683,760 167,300,893
-------------- --------------
2,567,053,956 2,428,996,062
Operating properties held for sale 124,098,255 0
Less: accumulated depreciation 111,055,462 81,294,400
-------------- --------------
2,580,096,749 2,347,701,662
Investments in real estate partnerships 66,159,432 66,938,784
-------------- --------------
Net real estate investments 2,646,256,181 2,414,640,446
Cash & cash equivalents 32,611,193 50,964,920
Notes receivable 46,056,322 15,673,125
Tenant receivables, net of reserves 28,366,032 30,884,172
Deferred costs, net of amortization 16,844,767 11,272,866
Other assets 7,588,032 7,273,925
-------------- --------------
$2,777,722,527 2,530,709,454
============== ==============
Liabilities and Partners' Capital
Fixed and variable secured mortgage loans 473,401,710 343,091,114
Unsecured fixed rate loans 370,331,834 370,696,093
Unsecured line of credit 305,000,000 247,179,310
-------------- --------------
Total Notes Payable 1,148,733,544 960,966,517
-------------- --------------
Tenant security and escrow deposits 8,019,289 7,566,967
Accounts payable & other liabilities 38,066,174 47,981,987
-------------- --------------
Total Liabilities 1,194,819,007 1,016,515,471
-------------- --------------
Limited partners' interest in consolidated partnerships 6,386,271 11,108,994
-------------- --------------
Preferred units 375,438,252 283,816,274
General and limited operating partnership units 1,201,078,997 1,219,268,715
-------------- --------------
Total Partners' Capital 1,576,517,249 1,503,084,989
-------------- --------------
$2,777,722,527 2,530,709,454
============== ==============
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
Other Summary Information - RCLP
Year to Date 12 Months
2000 1999
---- ----
<S> <C> <C>
EBITDA 179,432,850 203,143,569
Interest Paid & Preferred Dividend Coverage Ratio 2.3 2.6
Interest Coverage Ratio 3.1 3.0
Debt to Real Assets, at cost before depreciation 41.7% 38.5%
Unsecured Assets to Total Real Estate Assets 77.2% 73.5%
Unsecured NOI to Total NOI 77.6% 73.2%
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
7
<PAGE>
<TABLE>
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Regency Realty Corporation
Summary of Outstanding Debt
September 30, 2000
------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Realty Corporation (consolidated)
Total Debt Outstanding 09/30/00 12/31/99
---------------------- -------- --------
<S> <C> <C>
Mortgage Loans Payable
Fixed rate secured loans 342,232,912 382,714,999
Fixed rate unsecured loans 20,606,548 21,020,135
Variable rate secured loans 32,438,035 11,376,116
Unsecured debt offering fixed rate 499,456,049 349,675,957
Unsecured line of credit variable rate 305,000,000 247,179,310
------------- -------------
Total 1,199,733,544 1,011,966,517
============= =============
<CAPTION>
Scheduled Term
Schedule of Maturities by Year: Amortization Maturities Total
------------------------------- ------------ ----------- -----
<S> <C> <C> <C>
2000 1,462,005 56,984,589 58,446,594
2001 5,631,196 69,444,882 75,076,078
2002 4,954,527 349,094,161 354,048,688
2003 4,946,103 13,302,014 18,248,117
2004 5,342,323 199,889,500 205,231,823
2005 3,954,738 159,357,497 163,312,235
2006 3,517,545 24,092,264 27,609,809
2007 2,954,575 25,710,067 28,664,642
2008 3,102,231 4,679,692 7,781,923
2009 3,104,696 53,089,593 56,194,289
>10 years 19,969,959 174,853,859 194,823,818
Net unamortized debt premiums -- 10,295,530 10,295,530
----------------- ---------------- -----------------
58,939,898 1,140,793,646 1,199,733,544
================= ================ =================
<CAPTION>
Percentage of Total Debt: 09/30/00 12/31/99
------------------------- ------------- -------------
<S> <C> <C>
Fixed 71.87% 74.45%
Variable 28.13% 25.55%
Current Average Interest Rate:
Fixed 7.75% 7.50%
Variable 7.63% 6.79%
Total 7.71% 7.33%
====================================================================================================================================
<PAGE>
<CAPTION>
Regency Centers, L.P. Only
Total Debt Outstanding 09/30/00 12/31/99
---------------------- -------- --------
<S> <C> <C>
Mortgage Loans Payable
Fixed rate secured loans 291,232,912 331,714,999
Fixed rate unsecured loans 20,606,548 21,020,135
Variable rate secured loans 32,438,035 11,376,116
Unsecured debt offering fixed rate 499,456,049 349,675,957
Unsecured line of credit variable rate 305,000,000 247,179,310
------------- -------------
Total 1,148,733,544 960,966,517
============= =============
<CAPTION>
Scheduled Term
Schedule of Maturities by Year: Amortization Maturities Total
------------------------------- ------------ ----------- -----
<S> <C> <C> <C>
2000 1,462,005 5,984,589 7,446,594
2001 5,631,196 69,444,882 75,076,078
2002 4,954,527 349,094,161 354,048,688
2003 4,946,103 13,302,014 18,248,117
2004 5,342,323 199,889,500 205,231,823
2005 3,954,738 159,357,497 163,312,235
2006 3,517,545 24,092,264 27,609,809
2007 2,954,575 25,710,067 28,664,642
2008 3,102,231 4,679,692 7,781,923
2009 3,104,696 53,089,593 56,194,289
>10 years 19,969,959 174,853,859 194,823,818
Net unamortized debt premiums -- 10,295,530 10,295,530
----------------- ---------------- -----------------
58,939,898 1,089,793,646 1,148,733,544
================ ================ =================
</TABLE>
8
<PAGE>
<TABLE>
------------------------------------------------------------------------------------------------------------------------------------
Regency Realty Corporation
Summary of Outstanding Debt
September 30, 2000
------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Lender Secured Property Rate Maturity 09/30/00 12/31/99
------ ---------------- ---- -------- -------- --------
<S> <C> <C> <C> <C> <C>
Fixed Rate Loans:
Regency Realty Corporation (excluding Regency Centers, L.P.)
Securitized Loan - Banker's Trust Banker's Trust - Various Properties 6.720% 12-1-00 51,000,000 51,000,000
------------- -------------
Regency Centers, L.P. only
LaSalle National Bank, as Trustee Sunnyside 205 9.375% 01-15-00 -- 5,678,996
Abbey Tex Retail Funding Co. Mills Pointe 7.230% 07-01-00 -- 5,741,898
Abbey Tex Retail Funding Co. Preston Park Village 7.230% 07-01-00 -- 24,478,620
Principal Mutual Life Insurance Co. Briarcliff LaVista 7.570% 12-15-00 1,614,982 1,630,511
Principal Mutual Life Insurance Co. Cromwell Square 7.570% 12-15-00 4,369,607 4,411,629
American Enterprise Life Ins. Co. Paseo Village 7.500% 05-01-01 3,960,006 4,081,445
Wachovia Bank of Georgia Carriage Gate - Unsecured 7.600% 06-28-01 2,219,014 2,266,757
Wachovia Bank of Georgia Newberry Square - Unsecured 7.600% 06-28-01 6,213,240 6,346,921
Principal Mutual Life Insurance Co. Hyde Park 8.520% 12-15-01 24,750,000 24,750,000
Fortis Benefits Insurance Aventura 9.500% 03-01-02 8,363,280 8,470,790
Teachers Ins & Annuity of America Evans Crossing 9.250% 01-01-02 4,193,924 4,277,340
Teachers Ins & Annuity of America Bent Tree 9.250% 01-01-02 5,450,913 5,524,586
Teachers Ins & Annuity of America Franklin Square 9.250% 01-01-02 8,869,282 8,989,157
Wachovia Bank of Georgia The Marketplace - Unsecured 7.600% 04-01-02 2,144,066 2,186,300
Wachovia Bank of Georgia Peachland Promenade - Unsecured 7.600% 06-01-02 4,025,970 4,095,518
Wachovia Bank of Georgia Russell Ridge - Unsecured 8.010% 08-17-02 6,004,258 6,124,639
Life Investors Insurance Co. of America Garden Square 7.940% 12-21-02 6,312,512 6,403,488
Nationwide Life Insurance Company Glenwood Village 8.625% 06-01-03 2,054,140 2,127,621
G.E. Capital Pike Creek 9.040% 11-21-03 12,070,715 12,237,467
Debt Offering Unsecured 7.400% 04-01-04 199,889,500 199,866,100
Nationwide Life Insurance Co. Friar's Mission 9.500% 06-10-05 16,217,886 16,422,242
IDS Certificate Co. St. Ann Square 9.500% 07-01-05 4,778,365 4,861,922
Debt Offering Unsecured 7.125% 07-15-05 99,835,786 99,809,857
Prudential Insurance Company of America Braelin Village 7.840% 09-01-05 12,104,721 12,218,290
Teachers Ins & Annuity of America Westchester Plaza 8.010% 09-01-05 5,629,375 5,712,441
Teachers Ins & Annuity of America East Pointe 8.010% 09-01-05 5,098,685 5,173,921
Allstate Insurance Company of America Memorial Bend 7.920% 10-01-05 7,891,207 8,089,362
DLJ Commercial Mortgage Northlake Village 8.780% 11-01-05 6,900,314 --
Woodmen of the World Life Ins. Society Market at Round Rock 8.625% 09-01-05 7,200,596 7,298,779
Allstate Life Insurance Company Highlands Square 8.450% 02-01-06 3,749,137 3,835,315
Principal Mutual Life Insurance Co. Briarcliff Village 7.040% 02-01-06 12,979,281 13,113,636
Teachers Ins & Annuity of America Statler Square 8.110% 05-01-06 5,328,946 5,393,006
Teachers Ins & Annuity of America Northgate Plaza/Maxtown 7.050% 08-01-06 5,258,405 5,339,003
Teachers Ins & Annuity of America Kernersville 8.730% 04-01-07 5,088,740 5,146,742
Teachers Ins & Annuity of America Maynard Crossing 8.735% 04-01-07 11,420,194 11,550,269
IDS Certificate Co. Hamilton Meadows 8.125% 05-01-07 - 5,528,516
Principal Mutual Life Ins. Lakeshore 7.240% 12-10-07 3,619,044 3,668,020
Principal Mutual Life Ins. Shoppes at Mason 7.240% 12-10-07 3,809,520 3,861,074
Principal Mutual Life Ins. Lake Pine Plaza 7.240% 12-10-07 5,809,517 5,888,137
Nationwide Life Insurance Co. West Hills Plaza 7.990% 12-10-08 5,150,109 5,185,042
Debt Offering Unsecured 7.750% 04-01-09 50,000,000 50,000,000
Allstate Insurance Company of America Ashford Place 8.950% 08-01-09 4,468,459 4,550,587
Principal Mutual Life Insurance Co. Cumming 400 7.970% 12-15-10 6,292,503 6,349,087
Debt Offering Unsecured 8.450% 08-29-10 149,730,763 --
Principal Mutual Life Insurance Co. Powers Ferry Village 7.970% 12-15-10 2,860,228 2,885,949
A. H. Michigan Life Insurance Co. Wade Green CVS 8.100% 04-01-12 951,745 987,878
Nationwide Life Insurance Co. Plaza de Hacienda 9.000% 06-10-12 6,533,591 6,604,058
PFL Life Insurance Co. James Center 8.740% 08-01-13 5,650,951 5,787,944
Allstate Life Insurance Company North Hills Town Center 7.370% 01-01-14 8,470,784 8,688,589
United of Omaha Life Insurance Co. Fleming Island 7.400% 03-05-15 3,310,691 3,404,648
Municipal Tax Bonds Payable Friar's Mission 7.600% 09-02-15 1,264,087 1,264,087
Aid Association of Lutherans Woodman Van-Nuys 8.800% 09-15-15 5,760,600 5,895,124
Jefferson Pilot Peartree Village 8.400% 06-01-17 12,480,121 12,613,011
Protective Life Worthington Park Centre 8.750% 06-01-18 4,776,812 4,858,536
Aid Association of Lutherans Murrayhill Marketplace 8.050% 05-01-19 8,073,407 8,209,237
Net unamortized premiums on assumed debt of acquired properties 10,295,530 12,526,999
------------- -------------
Total Regency Centers, L.P. Fixed Rate Debt 811,295,509 702,411,091
------------- -------------
<PAGE>
Variable Rate Loans:
Regency Centers, L.P. only
First Star Bank Hampstead Village Libor + 1.35% 10-31-01 10,361,339 2,431,616
First Star Bank Frisco Prestonbrook Libor + .75% 10-01-01 13,228,061 --
Wachovia Bank of Georgia Trowbridge Crossing Libor + 1.50% 11-30-01 1,800,000 1,800,000
Wells Fargo Bank $625 Million Line of Credit Libor + 1.000% 03-28-02 305,000,000 247,179,310
Wachovia Bank of Georgia Dunwoody Village Libor + 1.25% 03-20-01 7,048,635 7,144,500
------------- -------------
Total Regency Centers, L.P. Variable Rate Debt 337,438,035 258,555,426
------------- -------------
Total Regency Centers, L.P. Debt 1,148,733,544 960,966,517
============= =============
Total Regency Realty Corporation Debt 1,199,733,544 1,011,966,517
============= =============
</TABLE>
9
<PAGE>
<TABLE>
------------------------------------------------------------------------------------------------------------------------------------
Regency Realty Corporation
2000 Shopping Center Acquisitions
------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Year of Acquisition Anchor
Date Property Name City/State GLA Construction % Leased Cost Yield Tenant
---- ------------- ---------- --- ------------ -------- ---- ----- --------
(in thousands)
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Acquisitions - Operating Properties:
Aug-00 Northlake Village Nashville, TN 151,629 1988 99% $12,750 9.73% Kroger
============ ======== ========== ==========
</TABLE>
10
<PAGE>
<TABLE>
------------------------------------------------------------------------------------------------------------------------------------
Regency Realty
Development Status Report
September 30, 2000
(Sorted by Status and State)
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
Dev,
Start Core or Re-Dev,
Property Name City State Year Status For Sale or Renov
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Hawthorne Plaza Village Hawthorne CA 1998 Sold For Sale Dev
Monrovia Los Angeles CA 1999 Sold For Sale Dev
Santa Margarita Marketplace Rancho Santa Marg CA 1999 Sold For Sale Dev
Long Bch Corp Sq (Ralph's) Long Beach CA 1999 Sold For Sale Dev
Woodmen Plaza Colo. Springs CO 1998 Stable Core Dev
Briarcliff Village Atlanta GA 1998 Stable Core Renov
Waterford Shopping Center Waterford MI 1998 Stable Core Dev
Hebron Parkway Plaza Carrollton TX 1998 Stable Core Dev
Vistoso Tucson AZ 2000 IP Core Dev
Ocotillo Chandler AZ 2000 IP Core Dev
South Mountain Phoenix AZ 2000 IP Core Dev
Stonebridge Center Mesa AZ 2000 IP Core Dev
The Provinces Chandler AZ 2000 IP Core Dev
Campus Marketplace San Marcos CA 2000 IP Core Dev
Carson/Abalone Torrance CA 2000 IP For Sale Dev
Corral Hollow Tracy CA 2000 IP Core Dev
El Cerrito Plaza El Cerrito CA 2000 IP Core Re-Dev
Plaza El Paseo Rancho Santa Marg CA 2000 IP Core Dev
Prairie City Crossing (Folsom) Folsom CA 1999 IP Core Dev
San Fernando Value Square San Fernando CA 2000 IP For Sale Re-Dev
Redlands Marketplace (Brach's Corner) Grand Junction CO 1999 IP For Sale Re-Dev
Fleming Island Phase II Jacksonville FL 2000 IP Core Renov
Highland Square Jacksonville FL 1998 IP Core Re-Dev
Julington Village (Race Track Road) Jacksonville FL 1999 IP Core Dev
King's Crossing (Sun City) Tampa FL 1999 IP Core Dev
Ocala Corners Tallahassee FL 2000 IP Core Dev
Shoppes of Pebblebrooke Naples FL 2000 IP Core Dev
Town Square Tampa FL 1999 IP Core Renov
Willa Springs Orlando FL 2000 IP Core Re-Dev
Cambridge Square Atlanta GA 2000 IP Core Renov
Dunwoody Hall Atlanta GA 2000 IP Core Renov
Orchard Square Atlanta GA 2000 IP Core Renov
Fenton Marketplace Fenton MI 1999 IP Core Dev
Olde Towne Plaza (Ballwin) St. Louis MO 2000 IP Core Dev
Sedgefield Village Greensboro NC 2000 IP Core Dev
Echelon Village Plaza Voorhees NJ 2000 IP Core Re-Dev
Kingsdale Columbus OH 1998 IP Core Renov
Kroger at New Albany Center (Hampstead Village) Columbus OH 1999 IP Core Dev
Port of Portland Hillsboro OR 2000 IP Core Dev
Sherwood Crossroads Sherwood OR 2000 IP Core Dev
Fort Bend Market Houston TX 2000 IP Core Dev
Keller Town Center Keller TX 1999 IP Core Dev
Legacy Center Frisco TX 2000 IP Core Dev
MacArthur Park Phase II Las Colinas TX 1999 IP Core Dev
Prestonwood Park (Phase I) Plano TX 1997 IP Core Dev
Tarrant Pkwy Plaza (Davis Crossing) N. Richland Hills TX 1999 IP Core Dev
Trophy Club Plaza Trophy Club TX 1999 IP Core Dev
Chesire Station Dale City VA 2000 IP Core Dev
Cascade Plaza Seattle WA 1999 IP Core Re-Dev
James Center Tacoma WA 1999 IP Core Re-Dev
Seattle Fur Exchange Tukwila WA 2000 IP For Sale Re-Dev
Dell Range Marketplace Cheyenne WY 1999 IP For Sale Dev
Build-To-Suit
Completed Various Stable
In Process Various IP
(e) Albertson's will own their own space
------------------------------------------------------------------------------------------------------------------------------------
Total Completed 40
------------------------------------------------------------------------------------------------------------------------------------
Total In-Process 57
------------------------------------------------------------------------------------------------------------------------------------
In-Process Summary (Shopping Centers Only):
------------------------------------------------------------------------------------------------------------------------------------
Total In-Process 44
-----------------------------------------------------------------------------------------------------------------------------------
Total Core 37
Total For Sale 7
------------------------------------------------------------------------------------------------------------------------------------
Total Developments 29
Total Redevelopments 9
Total Renovations 6
------------------------------------------------------------------------------------------------------------------------------------
Total Consolidated 43
Total Unconsolidated 1
------------------------------------------------------------------------------------------------------------------------------------
<PAGE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
Initial Acquisition Development/
Consolidated or Anchor Cost (Re-Dev and Redevelopment
Property Name Unconsolidated Opens Renov only) Costs
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Hawthorne Plaza Village Consolidated 11/01/99 -- 17,270,392
Monrovia Consolidated 02/01/00 -- 5,998,316
Santa Margarita Marketplace Consolidated 09/01/00 -- 23,400,000
Long Bch Corp Sq (Ralph's) Consolidated 10/01/00 -- 8,942,514
Woodmen Plaza Unconsolidated 07/14/99 -- 12,080,276
Briarcliff Village Consolidated 12/02/99 20,440,261 6,619,402
Waterford Shopping Center Consolidated 09/15/99 -- 11,491,039
Hebron Parkway Plaza Consolidated 10/01/99 -- 5,638,040
Vistoso Consolidated 08/01/00 -- 5,177,544
Ocotillo Consolidated 08/01/00 -- 7,058,514
South Mountain Consolidated 07/01/00 -- 3,353,277
Stonebridge Center Consolidated 06/01/00 -- 4,423,661
The Provinces Consolidated 07/01/00 -- 5,723,497
Campus Marketplace Consolidated 08/01/01 -- 25,329,708
Carson/Abalone Consolidated 06/01/01 -- 10,629,837
Corral Hollow Consolidated 09/01/01 -- 21,002,935
El Cerrito Plaza Consolidated 10/01/01 26,514,393 24,120,222
Plaza El Paseo Consolidated 10/01/01 -- 14,607,480
Prairie City Crossing (Folsom) Consolidated 12/01/00 -- 12,954,713
San Fernando Value Square Consolidated 10/01/87 25,778,000 150,293
Redlands Marketplace (Brach's Corner) Consolidated 12/22/00 -- 3,180,479
Fleming Island Phase II Consolidated 10/01/00 -- 4,529,715
Highland Square Consolidated 12/02/99 11,600,000 9,780,070
Julington Village (Race Track Road) Consolidated 05/25/00 -- 8,158,588
King's Crossing (Sun City) Consolidated 06/08/00 -- 6,751,862
Ocala Corners Consolidated 06/01/01 -- 6,759,254
Shoppes of Pebblebrooke Consolidated 07/01/01 -- 7,934,562
Town Square Consolidated 05/01/01 3,510,105 4,212,113
Willa Springs Consolidated 02/29/00 6,258,973 3,836,602
Cambridge Square Consolidated 10/01/99 3,791,617 1,497,712
Dunwoody Hall Consolidated 05/01/01 6,587,569 3,632,618
Orchard Square Consolidated 04/01/01 5,637,889 3,077,047
Fenton Marketplace Consolidated 03/01/01 -- 9,208,597
Olde Towne Plaza (Ballwin) Consolidated 12/01/01 -- 23,694,834
Sedgefield Village Consolidated 02/01/01 -- 4,712,981
Echelon Village Plaza Consolidated 09/01/01 -- 11,874,514
Kingsdale Consolidated 12/01/99 17,407,940 6,338,800
Kroger at New Albany Center (Hampstead Village) Consolidated 11/14/99 -- 8,814,149
Port of Portland Consolidated 01/01/02 -- 6,320,606
Sherwood Crossroads Consolidated 02/01/01 -- 7,033,102
Fort Bend Market Consolidated 11/01/01 -- 10,213,412
Keller Town Center Consolidated 12/01/99 -- 13,420,612
Legacy Center Consolidated 06/01/02 -- 9,050,712
MacArthur Park Phase II Consolidated 11/17/00 -- 26,020,045
Prestonwood Park (Phase I) Consolidated 01/26/00 -- 16,420,200
Tarrant Pkwy Plaza (Davis Crossing) Consolidated 07/26/00 -- 5,252,702
Trophy Club Plaza Consolidated 10/04/00 -- 14,895,300
Chesire Station Consolidated 09/01/01 -- 16,306,738
Cascade Plaza Consolidated 08/01/00 13,690,518 5,431,561
James Center Consolidated 11/01/99 12,300,000 8,022,042
Seattle Fur Exchange Consolidated 11/01/00 10,000,000 1,464,594
Dell Range Marketplace Unconsolidated 12/11/00 -- 9,732,371
Build-To-Suit
Completed -- 66,383,367
In Process -- 45,438,510
(e) Albertson's will own their own space
------------------------------------------------------------------------------------------------------------------------------------
Total Completed 20,440,261 157,823,346
------------------------------------------------------------------------------------------------------------------------------------
Total In-Process 143,077,004 457,548,685
------------------------------------------------------------------------------------------------------------------------------------
In-Process Summary (Shopping Centers Only):
------------------------------------------------------------------------------------------------------------------------------------
Total In-Process 143,077,004 412,110,175
------------------------------------------------------------------------------------------------------------------------------------
Total Core 107,299,004 377,921,154
Total For Sale 35,778,000 34,189,021
------------------------------------------------------------------------------------------------------------------------------------
Total Developments 0 320,961,793
Total Redevelopments 106,141,884 67,860,377
Total Renovations 36,935,120 23,288,005
------------------------------------------------------------------------------------------------------------------------------------
Total Consolidated 143,077,004 402,377,804
Total Unconsolidated 0 9,732,371
------------------------------------------------------------------------------------------------------------------------------------
<PAGE>
<CAPTION>
----------------------------------------------------------------------------------------------------------
Net Gross Gross
Completed Completed Cost %
Property Name Costs Costs Complete
----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Hawthorne Plaza Village 17,270,392 17,270,392 76%
Monrovia 5,998,316 5,998,316 98%
Santa Margarita Marketplace 23,400,000 23,400,000 76%
Long Bch Corp Sq (Ralph's) 8,942,514 8,942,514 98%
Woodmen Plaza 12,080,276 14,728,093 90%
Briarcliff Village 27,059,663 28,088,639 95%
Waterford Shopping Center 11,491,039 13,091,039 99%
Hebron Parkway Plaza 5,638,040 7,180,520 98%
Vistoso 5,177,544 5,877,544 35%
Ocotillo 7,058,514 9,058,514 42%
South Mountain 3,353,277 5,353,277 45%
Stonebridge Center 4,423,661 5,223,661 69%
The Provinces 5,723,497 6,923,497 59%
Campus Marketplace 25,329,708 25,329,708 31%
Carson/Abalone 10,629,837 10,629,837 44%
Corral Hollow 21,002,935 22,082,935 27%
El Cerrito Plaza 50,634,615 50,634,615 56%
Plaza El Paseo 14,607,480 19,009,697 33%
Prairie City Crossing (Folsom) 12,954,713 12,954,713 55%
San Fernando Value Square 25,928,293 25,928,293 100%
Redlands Marketplace (Brach's Corner) 3,180,479 5,192,979 69%
Fleming Island Phase II 4,529,715 4,529,715 67%
Highland Square 21,380,070 21,850,770 82%
Julington Village (Race Track Road) 8,158,588 11,905,876 90%
King's Crossing (Sun City) 6,751,862 7,294,885 87%
Ocala Corners 6,759,254 6,759,254 5%
Shoppes of Pebblebrooke 7,934,562 9,894,562 37%
Town Square 7,722,218 7,722,218 68%
Willa Springs 10,095,575 10,095,575 62%
Cambridge Square 5,289,329 5,289,329 84%
Dunwoody Hall 10,220,187 11,228,910 66%
Orchard Square 8,714,936 9,829,120 66%
Fenton Marketplace 9,208,597 10,208,597 34%
Olde Towne Plaza (Ballwin) 23,694,834 23,694,834 46%
Sedgefield Village 4,712,981 5,062,981 33%
Echelon Village Plaza 11,874,514 11,874,514 67%
Kingsdale 23,746,740 23,746,740 95%
Kroger at New Albany Center (Hampstead Village) 8,814,149 9,904,149 98%
Port of Portland 6,320,606 6,320,606 5%
Sherwood Crossroads 7,033,102 7,033,102 67%
Fort Bend Market 10,213,412 17,701,615 39%
Keller Town Center 13,420,612 13,420,612 97%
Legacy Center 9,050,712 13,827,202 36%
MacArthur Park Phase II 26,020,045 26,020,045 68%
Prestonwood Park (Phase I) 16,420,200 21,495,200 94%
Tarrant Pkwy Plaza (Davis Crossing) 5,252,702 6,165,448 97%
Trophy Club Plaza 14,895,300 14,895,300 79%
Chesire Station 16,306,738 16,306,738 31%
Cascade Plaza 19,122,079 19,122,079 86%
James Center 20,322,042 20,322,042 98%
Seattle Fur Exchange 11,464,594 11,464,594 89%
Dell Range Marketplace 9,732,371 11,072,371 51%
Build-To-Suit
Completed 66,383,367 68,287,224 98%
In Process 43,698,459 45,360,459 65%
(e) Albertson's will own their own space
----------------------------------------------------------------------------------------------------------
Total Completed 178,263,607 186,986,737 92%
----------------------------------------------------------------------------------------------------------
Total In-Process 598,885,638 645,618,712 63%
----------------------------------------------------------------------------------------------------------
In-Process Summary (Shopping Centers Only):
Total In-Process 555,187,179 600,258,253 63%
----------------------------------------------------------------------------------------------------------
Total Core 485,220,158 526,822,963 61%
Total For Sale 69,967,021 73,435,290 78%
----------------------------------------------------------------------------------------------------------
Total Developments 320,961,793 361,426,760 50%
Total Redevelopments 174,002,261 176,485,461 76%
Total Renovations 60,223,125 62,346,032 79%
----------------------------------------------------------------------------------------------------------
Total Consolidated 545,454,808 589,185,882 61%
Total Unconsolidated 9,732,371 11,072,371 51%
----------------------------------------------------------------------------------------------------------
</TABLE>
11
<PAGE>
<TABLE>
------------------------------------------------------------------------------------------------------------------------------------
Regency Realty
Development Status Report
September 30, 2000
(Sorted by Status and State)
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
Estimated Incremental Stabilized
Costs NOI Yield NOI Major Anchor
Property Name to Complete (Renov only) Yield Tenant
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Hawthorne Plaza Village 4,111,209 10.98% Lucky's
Monrovia 95,491 11.47% Ross, David's Bridal
Santa Margarita Marketplace 5,545,201 12.21% Marshalls, Linens 'n Things, Staples
Long Bch Corp Sq (Ralph's) 142,240 11.14% Ralph's
Woodmen Plaza 1,479,052 10.20% King Soopers
Briarcliff Village 1,285,084 4.52% 8.05% Publix
Waterford Shopping Center 122,003 9.69% Kroger
Hebron Parkway Plaza 115,896 12.85% Albertsons (e)
Vistoso 3,846,229 11.30% Safeway
Ocotillo 5,215,938 11.30% Safeway
South Mountain 2,929,582 11.30% Safeway
Stonebridge Center 1,641,763 11.07% Safeway
The Provinces 2,853,891 11.30% Safeway
Campus Marketplace 17,489,661 10.41% Ralph's, Long's
Carson/Abalone 5,917,649 11.77% Ralph's, Hollywood Video
Corral Hollow 16,224,329 11.02% Safeway, Orchard, Long's
El Cerrito Plaza 22,496,403 10.44% Albertson's, Long's, Ross, Bally's
Plaza El Paseo 12,697,601 12.25% Gelson's
Prairie City Crossing (Folsom) 5,855,745 10.06% Safeway
San Fernando Value Square 4,314 9.83% Home Depot, Sam's Club
Redlands Marketplace (Brach's Corner) 1,621,978 10.36% Albertsons (e)
Fleming Island Phase II 1,491,759 6.49% 6.49% Stein Mart
Highland Square 3,910,168 9.80% Winn-Dixie, Publix
Julington Village (Race Track Road) 1,151,928 11.49% Publix
King's Crossing (Sun City) 955,015 11.12% Publix
Ocala Corners 6,426,712 11.54% Publix
Shoppes of Pebblebrooke 6,280,621 10.67% Publix
Town Square 2,481,001 15.99% 13.07% TBD
Willa Springs 3,836,602 9.30% Publix
Cambridge Square 846,792 19.78% 14.08% Harris Teeter
Dunwoody Hall 3,776,491 10.26% 10.27% Publix
Orchard Square 3,336,021 2.82% 9.39% Publix
Fenton Marketplace 6,706,278 10.29% Farmer Jack
Olde Towne Plaza (Ballwin) 12,851,460 10.70% Lowes
Sedgefield Village 3,396,987 10.80% Food Lion
Echelon Village Plaza 3,878,327 10.82% Genaurdi's
Kingsdale 1,226,226 6.78% 10.02% Big Bear
Kroger at New Albany Center (Hampstead Village) 209,581 10.21% Kroger
Port of Portland 5,982,008 9.26% Albertson's
Sherwood Crossroads 2,333,491 10.09% Safeway
Fort Bend Market 10,841,339 10.73% Kroger
Keller Town Center 346,387 10.41% Tom Thumb
Legacy Center 8,835,119 11.53% Albertson's
MacArthur Park Phase II 8,250,174 9.87% Kroger Signature
Prestonwood Park (Phase I) 1,367,281 11.64% Albertsons (e)
Tarrant Pkwy Plaza (Davis Crossing) 186,941 10.33% Albertsons (e)
Trophy Club Plaza 3,193,618 11.20% Tom Thumb
Chesire Station 11,251,206 10.26% Safeway
Cascade Plaza 2,633,653 10.38% Safeway
James Center 419,033 9.95% Fred Meyers, Rite Aid
Seattle Fur Exchange 1,304,191 10.65% Musician's Friend, Bed Bath Beyond
Dell Range Marketplace 5,464,338 10.00% King Soopers
Build-To-Suit
Completed 1,663,683 10.03%
In Process 15,995,388 9.78%
(e) Albertson's will own their own space
------------------------------------------------------------------------------------------------------------------------------------
Total Completed 14,559,858 4.52% 10.29%
------------------------------------------------------------------------------------------------------------------------------------
Total In-Process 239,961,220 9.25% 10.49%
------------------------------------------------------------------------------------------------------------------------------------
In-Process Summary (Shopping Centers Only):
Total In-Process 223,965,832 9.25% 10.55%
------------------------------------------------------------------------------------------------------------------------------------
Total Core 207,549,032 9.25% 10.54%
Total For Sale 16,416,800 n/a 10.61%
------------------------------------------------------------------------------------------------------------------------------------
Total Developments 170,702,873 n/a 10.77%
Total Redevelopments 40,104,669 n/a 10.18%
Total Renovations 13,158,290 9.25% 10.46%
------------------------------------------------------------------------------------------------------------------------------------
Total Consolidated 218,501,494 9.25% 10.56%
Total Unconsolidated 5,464,338 n/a 10.00%
------------------------------------------------------------------------------------------------------------------------------------
<PAGE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
Gross Company
Anchor Center Owned %
Property Name GLA GLA GLA Leased
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Hawthorne Plaza Village 65,230 99,405 99,405 95%
Monrovia 40,187 48,187 48,187 100%
Santa Margarita Marketplace 90,209 153,460 153,460 100%
Long Bch Corp Sq (Ralph's) 50,923 50,923 50,923 100%
Woodmen Plaza 69,913 104,755 104,755 92%
Briarcliff Village 43,454 183,755 183,755 96%
Waterford Shopping Center 60,202 91,921 91,921 92%
Hebron Parkway Plaza 62,322 109,335 47,013 95%
Vistoso 55,255 90,695 34,778 17%
Ocotillo 55,255 96,089 40,765 19%
South Mountain 55,256 81,597 26,341 38%
Stonebridge Center 55,250 85,485 30,235 12%
The Provinces 55,256 89,492 34,236 15%
Campus Marketplace 74,325 145,580 145,580 40%
Carson/Abalone 58,300 63,300 63,300 92%
Corral Hollow 138,230 168,048 168,048 39%
El Cerrito Plaza 65,015 361,630 361,630 41%
Plaza El Paseo 30,000 96,150 96,150 31%
Prairie City Crossing (Folsom) 55,255 78,555 78,555 78%
San Fernando Value Square 196,911 229,353 229,353 97%
Redlands Marketplace (Brach's Corner) 55,922 86,284 30,317 18%
Fleming Island Phase II 34,000 40,487 40,487 87%
Highland Square 84,314 262,499 262,499 82%
Julington Village (Race Track Road) 51,420 81,820 81,820 88%
King's Crossing (Sun City) 51,420 75,020 75,020 90%
Ocala Corners 61,166 86,766 86,766 70%
Shoppes of Pebblebrooke 61,166 76,766 76,766 80%
Town Square 14,650 44,679 44,679 17%
Willa Springs 44,000 93,539 93,539 98%
Cambridge Square 32,922 69,649 69,649 72%
Dunwoody Hall 44,271 89,509 89,509 82%
Orchard Square 44,271 93,221 93,221 82%
Fenton Marketplace 53,739 73,351 73,351 81%
Olde Towne Plaza (Ballwin) 135,197 286,547 286,547 58%
Sedgefield Village 37,930 56,630 56,630 67%
Echelon Village Plaza 48,750 88,867 88,867 85%
Kingsdale 56,006 270,470 270,470 72%
Kroger at New Albany Center (Hampstead Village) 63,805 91,805 91,805 91%
Port of Portland 57,370 67,240 67,240 85%
Sherwood Crossroads 55,150 87,750 87,750 63%
Fort Bend Market 63,373 103,373 103,373 61%
Keller Town Center 63,631 114,822 114,822 85%
Legacy Center 64,843 125,065 60,222 5%
MacArthur Park Phase II 63,373 198,600 198,600 90%
Prestonwood Park (Phase I) 62,322 163,294 100,972 60%
Tarrant Pkwy Plaza (Davis Crossing) 64,400 97,479 33,079 84%
Trophy Club Plaza 63,654 125,063 125,063 72%
Chesire Station 55,256 100,641 100,641 61%
Cascade Plaza 49,440 217,817 217,817 91%
James Center 85,023 140,500 140,500 89%
Seattle Fur Exchange 62,995 84,380 84,380 74%
Dell Range Marketplace 61,056 87,771 87,771 76%
Build-To-Suit
Completed 335,346 335,346 335,346 100%
In Process 150,591 150,591 150,591 98%
(e) Albertson's will own their own space
------------------------------------------------------------------------------------------------------------------------------------
Total Completed 817,786 1,177,087 1,114,765 97%
------------------------------------------------------------------------------------------------------------------------------------
Total In-Process 2,891,734 5,418,269 4,893,734 70%
------------------------------------------------------------------------------------------------------------------------------------
In-Process Summary (Shopping Centers Only):
------------------------------------------------------------------------------------------------------------------------------------
Total In-Process 2,741,143 5,267,678 4,743,143 69%
------------------------------------------------------------------------------------------------------------------------------------
Total Core 2,190,029 4,545,096 4,140,928 66%
Total For Sale 551,114 722,582 602,215 84%
------------------------------------------------------------------------------------------------------------------------------------
Total Developments 1,822,653 3,094,794 2,626,226 64%
Total Redevelopments 692,370 1,564,869 1,508,902 76%
Total Renovations 226,120 608,015 608,015 72%
------------------------------------------------------------------------------------------------------------------------------------
Total Consolidated 2,680,087 5,179,907 4,655,372 69%
Total Unconsolidated 61,056 87,771 87,771 76%
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
12
<PAGE>
<TABLE>
------------------------------------------------------------------------------------------------------------------------------------
Regency Realty
Investment in Unconsolidated Joint Ventures
September 30, 2000
------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Total Total
Property Name Legal Entity Assets Debt Lender Maturity
------------- ------------ ------ ----- ------ --------
<S> <C> <C> <C> <C> <C>
Shiloh Springs T & M Shiloh Development Company 10,993,649 n/a n/a n/a
Ballwin Olde Towne Plaza Regency/DS Ballwin, LLC 10,371,886 n/a n/a n/a
Corral Hollow/Tracy RRG-RMC Tracy, LLC 6,008,740 n/a n/a n/a
Village Center OTR/Regency Texas Realty Holdings, L.P. 13,202,615 n/a n/a n/a
Creekside OTR/Regency Texas Realty Holdings, L.P. 8,554,109 n/a n/a n/a
Plaza El Paseo K & G / Regency II, LLC 6,313,032 n/a n/a n/a
Del Range (Cheyenne, WY) R & KS Dell Range Development, LLC 1,953,926 n/a n/a n/a
Woodmen and Rangewood M & KS Woodman Development, LLC 13,444,885 9,771,012 Star Bank 10/01/00
Ocean East (1) Regency Ocean East Partnership, L.P. 7,926,363 5,147,852 Wachovia Bank 11/25/03
Aspen Park R & KS Aspen Park Development, LLC 258,655 n/a n/a n/a
Creekside Plase II T & M Arlington Development Company n/a n/a n/a n/a
Bethany Lake R & M Western Partnership, L.P. (note) n/a n/a n/a n/a
Cheyenne Meadows R & M Western Partnership, L.P. (note) n/a n/a n/a n/a
Frisco Prestonbrook R & M Western Partnership, L.P. (note) n/a n/a n/a n/a
Jackson Creek R & M Western Partnership, L.P. (note) n/a n/a n/a n/a
Lloyd King Center R & M Western Partnership, L.P. (note) n/a n/a n/a n/a
Stroh Ranch R & M Western Partnership, L.P. (note) n/a n/a n/a n/a
------------- -------------
$79,027,860 $14,918,864
============= =============
<CAPTION>
RRC Regency Regency
Ownership Share Investment Equity
Property Name Interest of Debt 09/30/00 Pick-up
------------- -------- ------- -------- -------
<S> <C> <C> <C> <C>
Shiloh Springs 50.00% n/a 11,361,226 (152,292)
Ballwin Olde Towne Plaza 50.00% n/a 11,319,266 0
Corral Hollow/Tracy 50.00% n/a 9,009,031 2,815,944
Village Center 30.00% n/a 8,440,454 26,888
Creekside 30.00% n/a 7,839,330 46,112
Plaza El Paseo 50.00% n/a 6,312,096 0
Del Range (Cheyenne, WY) 50.00% n/a 5,662,058 (2,088)
Woodmen and Rangewood 50.00% 4,885,506 3,312,573 (192,248)
Ocean East (1) 25.00% 1,286,963 2,143,633 14,455
Aspen Park 50.00% n/a 759,765 0
Creekside Plase II 50.00% n/a 0 (12,553)
Bethany Lake 50.00% n/a 0 (9,354)
Cheyenne Meadows 50.00% n/a 0 256,890
Frisco Prestonbrook 50.00% n/a 0 37,761
Jackson Creek 50.00% n/a 0 (46,329)
Lloyd King Center 50.00% n/a 0 (55,662)
Stroh Ranch 50.00% n/a 0 137,926
------------ ------------ -------------
$6,172,469 $66,159,432 $2,865,450
============ ============ =============
</TABLE>
note: effective June 30, 2000, Regency acquired 100% ownership interest of R&M
Partnership and consolidated the venture.
13
<PAGE>
REGENCY REALTY CORPORATION
SECURITIES ISSUED OTHER THAN COMMON STOCK
------------------------------------------------------------------------
Security Issued: SERIES 2 CUMULATIVE CONVERTIBLE
--------------- PREFERRED STOCK
o Issuance Date - February 29, 1999
o Shares Outstanding - 1,487,507
o Conversion - Convertible into Common Stock 1:1
o Dividend - Equal to Current Common Stock
Security Issued: $384 MILLION PERPETUAL PREFERRED UNITS
--------------- - REGENCY CENTERS, L.P.
o Issuance Dates - Jun-98, Sep-99, May/Sept-00
o Units Outstanding - 4,640,000
o Conversion - None
o Distribution Average - 8.72%
Security Issued: REGENCY CENTERS, L.P. OPERATING PARTNERSHIP UNITS
--------------- (including Parkway and Delk Spectrum Down-REITs)
o Issuance Date - Variable
o Units Outstanding - 1,684,632 OP Units
o Conversion - Convertible into Common Stock 1:1
o Dividend - Equal to Current Common Dividend
14
<PAGE>
<TABLE>
------------------------------------------------------------------------------------------------------------------------------------
Regency Realty
Summary Real Estate Information
For the Periods Ended September 30, 2000 and 1999
------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Real Estate Portfolio Current YTD Change 12/31/99 12/31/98
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Company owned GLA (note) 27,121,631 2,352,133 24,769,498 14,652,299
GLA under Development, Redevelopment, or Renovation 4,743,144 -- 2,693,901 1,092,711
Company owned GLA Growth 9.5% -- 146.8% --
Total GLA including anchor owned stores 28,523,174 2,570,882 25,952,292 14,987,053
------------------------------------------------------------------------------------------------------------------------------------
Shopping centers Operating or Under Development (note) 235 19 216 129
Shopping centers in Development included above 44 22 26 9
Grocery anchored shopping centers 206 19 187 114
Grocery centers ranked #1 or #2 in market 155 14 141 86
------------------------------------------------------------------------------------------------------------------------------------
Percent leased - All Properties including Development In Process 90.8% NA 92.4% 93.6%
Percent leased - Operating Properties Only 95.5% 0.6% 95.0% 94.9%
------------------------------------------------------------------------------------------------------------------------------------
Net Operating Income $183,428,190 -- $211,501,431 $99,642,753
NOI growth 18.3% -- 112.3% --
Base rent growth on new leasing and renewal transactions (YTD) 7.3% -- 7.8% 5.0%
NOI - same property growth (YTD) 4.4% -- 4.3% 1.0%
(note: all amounts exclude build to suit projects)
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
15
<PAGE>
<TABLE>
------------------------------------------------------------------------------------------------------------------------------------
Regency Realty
Summary of Real Estate
(excluding Build to Suit Projects)
Sep-00
------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
Company Owned GLA Percent Leased
------------------------------------------------------------------------------------------------------------------------------------
Yr Const Grocery
or last Year Anchor
Property Name State MSA Rnvtn Acquired Dec-99 Sep-00 Dec-99 Sep-00 GLA
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
West County Marketplace AL Birmingham 1987 1993 129,155 129,155 100.0% 98.1% 42,848
Village in Trussville, The AL Birmingham 1987 1993 69,280 69,280 97.7% 92.6% 38,380
Country Club Ala AL Montgomery 1991 1993 67,622 67,622 100.0% 99.0% 35,922
The Marketplace - Alexander City AL Alexander City 1987 1993 162,723 162,723 100.0% 98.3% 47,668
Bonner's Point AL Roanoke 1985 1993 87,281 87,282 98.6% 100.0% 34,700
------------------------------------------------------------------------------------------------------------------------------------
The Provinces Shopping Ctr AZ Phoenix 2000 2000 0 34,236 NA 15.3% 55,256
Stonebridge Center AZ Phoenix 2000 2000 0 30,235 NA 12.1% 55,250
South Mountain Shopping Ctr AZ Phoenix 2000 2000 0 26,341 NA 37.6% 55,256
Pima Crossing AZ Phoenix 1996 1999 234,585 236,585 99.5% 100.0% 46,955
Paseo Village AZ Phoenix 1998 1999 92,399 92,399 100.0% 98.7% 23,800
Vistoso Center AZ Tucson 2000 2000 0 34,778 NA 16.7% 55,255
------------------------------------------------------------------------------------------------------------------------------------
Woodman - Van Nuys CA Los Angeles 1992 1999 107,570 107,570 96.3% 96.3% 77,648
San Fernando Value Square CA Los Angeles 2000 2000 0 229,353 NA 96.7% 0
Plaza Hermosa CA Los Angeles 1984 1999 94,939 94,939 100.0% 100.0% 36,800
Plaza de Hacienda CA Los Angeles 1991 1999 125,602 127,132 95.6% 100.0% 81,736
Monrovia CA Los Angeles 1999 1999 48,187 0 96.9% 0.0% 0
Long Beach Corporate Square CA Los Angeles 1999 1999 54,923 0 100.0% 0.0% 0
Hawthorne Plaza CA Los Angeles 1999 1999 92,496 0 99.5% 0.0% 0
El Camino Shopping Center CA Los Angeles 1995 1999 135,883 135,883 99.3% 100.0% 35,650
Crossroads Plaza CA Los Angeles 1988 1999 60,638 60,638 100.0% 100.0% 60,638
Carson and Abalone CA Los Angeles 2000 2000 0 63,300 NA 92.1% 58,300
Tassajara Crossing CA Oakland 1990 1999 141,790 146,188 98.1% 100.0% 56,496
San Leandro Plaza CA Oakland 1982 1999 50,853 50,853 100.0% 99.2% 38,250
Encina Grande CA Oakland 1965 1999 102,499 102,499 100.0% 100.0% 22,500
Diablo Plaza CA Oakland 1982 1999 63,265 63,265 100.0% 100.0% 53,000
Country Club Village - Calif CA Oakland 1994 1999 111,251 111,251 100.0% 100.0% 50,320
Santa Margarita Marketplace CA Orange County 1999 1999 152,260 0 51.9% 0.0% 0
Santa Ana Downtown Plaza CA Orange County 1987 1999 100,305 100,305 100.0% 81.7% 37,972
Rona Plaza CA Orange County 1989 1999 51,779 51,779 100.0% 100.0% 37,194
Plaza El Paseo CA Orange County 2000 2000 0 96,150 NA 31.2% 30,000
Newland Center CA Orange County 1985 1999 166,492 166,492 97.1% 96.1% 58,000
Morningside Plaza CA Orange County 1996 1999 91,599 91,600 100.0% 97.7% 42,630
Heritage Plaza CA Orange County 1981 1999 231,883 231,883 99.9% 99.4% 44,376
Bristol & Warner Shopping Ctr CA Orange County 1998 1999 121,677 121,679 95.6% 92.0% 51,260
The Promenade CA Sacramento 1989 1999 136,022 136,022 96.2% 96.2% 43,230
Prairie City Crossing CA Sacramento 1999 1999 0 78,555 NA 77.5% 55,255
Arden Square CA Sacramento 1994 1999 100,162 100,162 94.8% 94.0% 0
Twin Peaks Plaza CA San Diego 1988 1999 198,139 198,139 97.6% 99.0% 44,686
Friars-Mission Center CA San Diego 1989 1999 145,608 145,608 100.0% 93.7% 45,000
El Norte Parkway Plaza CA San Diego 1984 1999 87,990 87,990 96.9% 100.0% 42,315
Costa Verde CA San Diego 1988 1999 178,619 179,319 100.0% 98.9% 40,000
Campus Marketplace CA San Diego 2000 2000 0 145,580 NA 39.5% 57,541
Woodside Central Plaza CA San Francisco 1993 1999 80,598 80,591 100.0% 100.0% 0
Strawflower Village CA San Francisco 1985 1999 78,827 78,827 95.4% 100.0% 33,753
Sequoia Station CA San Francisco 1996 1999 103,388 103,388 99.5% 99.8% 62,050
El Cerrito Plaza CA San Francisco 2000 2000 0 361,630 NA 41.4% 32,924
West Park Plaza CA San Jose 1996 1999 88,103 88,103 100.0% 100.0% 24,712
Loehmann's Plaza Calif CA San Jose 1983 1999 113,309 113,309 94.9% 100.0% 53,000
Blossom Valley Shopping Ctr CA San Jose 1990 1999 91,969 93,315 96.8% 100.0% 34,208
Corral Hollow CA Stockton 2000 2000 0 168,048 NA 39.1% 65,715
Westlake Plaza and Center CA Ventura 1975 1999 190,655 190,656 98.9% 100.0% 41,300
Ventura Village Shopping Ctr CA Ventura 1984 1999 76,070 76,070 95.7% 95.7% 42,500
Oakbrook Plaza CA Ventura 1982 1999 83,278 83,278 94.4% 95.6% 43,842
------------------------------------------------------------------------------------------------------------------------------------
<PAGE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------
Grocery
Property Name Anchor Drug Store GLA Other Anchor or Major
------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
West County Marketplace Food World Rite Aid Wal-Mart
Village in Trussville, The Bruno's CVS Drug --
Country Club Ala Winn-Dixie Rite Aid --
The Marketplace - Alexander City Winn-Dixie -- Wal-Mart
Bonner's Point Winn-Dixie -- Wal-Mart
------------------------------------------------------------------------------------------------------------------------
The Provinces Shopping Ctr Safeway --
Stonebridge Center Safeway --
South Mountain Shopping Ctr Safeway
Pima Crossing Basha's -- Stein Mart, Bally Total Fitness
Paseo Village ABCO Walgreen's --
Vistoso Center Safeway -- --
------------------------------------------------------------------------------------------------------------------------
Woodman - Van Nuys Gigante -- --
San Fernando Value Square -- -- Home Depot, Sam's Club
Plaza Hermosa Von's Food & Drug Sav-On Drugs --
Plaza de Hacienda Food 4 Less -- --
Monrovia -- -- --
Long Beach Corporate Square -- -- --
Hawthorne Plaza -- -- --
El Camino Shopping Center Von's Food & Drug Sav-On Drugs --
Crossroads Plaza Gigante -- --
Carson and Abalone Ralph's -- --
Tassajara Crossing Safeway Long's Drugs Ace Hardware
San Leandro Plaza Safeway -- --
Encina Grande Safeway Walgreen's --
Diablo Plaza Safeway Long's Drugs Jo-Ann Fabrics
Country Club Village - Calif Ralph's Long's Drugs Blockbuster Video
Santa Margarita Marketplace -- -- --
Santa Ana Downtown Plaza Food 4 Less -- --
Rona Plaza Food 4 Less -- --
Plaza El Paseo Gelson's --
Newland Center Lucky's -- --
Morningside Plaza Albertson's -- --
Heritage Plaza Ralph's Sav-On Drugs Irvine Ace Hardware
Bristol & Warner Shopping Ctr Food 4 Less -- Banner Central
The Promenade Bel Air Market Long's Drugs True Value
Prairie City Crossing Safeway --
Arden Square -- -- Jo-Ann Fabrics, Office Max
Twin Peaks Plaza Lucky's -- Target
Friars-Mission Center Ralph's Long's Drugs --
El Norte Parkway Plaza Von's Food & Drug -- Our Fitness
Costa Verde Albertson's -- Petco, Bookstar
Campus Marketplace Ralph's Long's Drugs
Woodside Central Plaza -- -- Marshalls
Strawflower Village Safeway Long's Drugs --
Sequoia Station Safeway Long's Drugs Barnes and Noble, Old Navy
El Cerrito Plaza Lucky's Long's Drugs
West Park Plaza Safeway Rite Aid --
Loehmann's Plaza Calif Safeway Long's Drugs Loehmann's
Blossom Valley Shopping Ctr Safeway Long's Drugs --
Corral Hollow Safeway --
Westlake Plaza and Center Von's Food & Drug Long's/Save -On Drugs --
Ventura Village Shopping Ctr Von's Food & Drug -- --
Oakbrook Plaza Albertson's Long's Drugs --
------------------------------------------------------------------------------------------------------------------------
</TABLE>
16
<PAGE>
<TABLE>
------------------------------------------------------------------------------------------------------------------------------------
Regency Realty
Summary of Real Estate
(excluding Build to Suit Projects)
Sep-00
------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
Company Owned GLA Percent Leased
------------------------------------------------------------------------------------------------------------------------------------
Yr Const Grocery
or last Year Anchor
Property Name State MSA Rnvtn Acquired Dec-99 Sep-00 Dec-99 Sep-00 GLA
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Woodmen Plaza CO Colorado Spring 1998 1998 97,913 104,755 85.7% 92.0% 69,913
Jackson Creek Crossing CO Colorado Spring 1999 1998 85,259 85,263 98.4% 100.0% 69,913
Cheyenne Meadows Center CO Colorado Spring 1998 1998 89,893 89,893 100.0% 97.7% 69,105
Stroh Ranch Center CO Denver 1998 1998 86,432 86,432 100.0% 100.0% 69,719
Lloyd King Center CO Denver 1998 1998 83,326 83,326 100.0% 100.0% 61,040
Littleton Square CO Denver 1997 1999 94,257 94,257 100.0% 97.7% 49,751
Leetsdale Marketplace CO Denver 1993 1999 119,916 119,916 98.7% 98.7% 62,600
Buckley Square CO Denver 1978 1999 116,206 111,146 93.2% 100.0% 62,400
Boulevard Center CO Denver 1986 1999 92,483 92,483 95.2% 95.7% 52,700
Redlands Marketplace CO Grand Junction 1999 1999 37,817 30,317 36.3% 18.3% 55,922
------------------------------------------------------------------------------------------------------------------------------------
Pike Creek Shopping Center DE Wilmington 1981 1998 232,754 228,169 96.3% 98.6% 49,069
------------------------------------------------------------------------------------------------------------------------------------
Palm Harbour Shopping Ctr FL Daytona Beach 1991 1996 172,758 172,758 90.7% 91.9% 45,254
Welleby Plaza FL Fort Lauderdale 1982 1996 109,949 109,949 89.9% 91.6% 46,779
Palm Trails Plaza FL Fort Lauderdale 1998 1997 76,067 76,067 98.3% 96.6% 59,562
Town Center at Martin Downs FL Fort Pierce 1996 1996 64,546 64,546 93.5% 100.0% 56,146
Ocean East Mall FL Fort Pierce 1997 1996 113,328 113,328 92.9% 94.0% 38,100
Ocean Breeze Plaza FL Fort Pierce 1985 1993 108,209 108,209 85.4% 80.8% 36,464
Martin Downs Village Shoppes FL Fort Pierce 1998 1993 49,773 49,773 93.0% 97.6% 0
Martin Downs Village Center FL Fort Pierce 1985 1993 121,946 121,946 91.7% 95.2% 0
East Port Plaza FL Fort Pierce 1991 1997 235,842 235,842 93.4% 95.7% 42,112
Newberry Square FL Gainesville 1986 1994 180,524 180,524 96.8% 97.0% 39,795
Millhopper Shopping Center FL Gainesville 1974 1993 84,065 84,065 97.0% 100.0% 37,244
Regency Court FL Jacksonville 1992 1997 218,665 218,665 96.6% 94.6% 0
Pine Tree Plaza FL Jacksonville 1999 1997 60,787 60,787 98.4% 100.0% 37,866
Old St. Augustine Plaza FL Jacksonville 1990 1996 170,220 175,459 97.6% 100.0% 51,832
Julington Village FL Jacksonville 1999 1999 81,820 81,820 69.9% 87.5% 51,420
Highlands Square Shopping Ctr FL Jacksonville 1999 1998 262,549 262,499 80.4% 82.2% 84,314
Fleming Island Shopping Ctr FL Jacksonville 1994 1998 80,205 80,205 100.0% 98.5% 47,955
Fleming Island Phase II FL Jacksonville 2000 2000 0 40,487 NA 87.4% 0
Courtyard, The FL Jacksonville 1987 1993 67,794 137,256 12.7% 100.0% 62,771
Bolton Plaza FL Jacksonville 1988 1994 172,938 172,938 100.0% 100.0% 0
Anastasia Plaza FL Jacksonville 1988 1993 102,342 102,342 90.2% 92.7% 48,555
University Market Place FL Miami 1990 1993 129,121 129,121 78.4% 76.2% 63,139
Tamiami Trail Plaza FL Miami 1987 1997 110,867 110,867 94.9% 96.5% 42,112
Shoppes at 104 FL Miami 1990 1998 108,189 108,190 95.4% 98.0% 46,368
North Miami Shopping Ctr FL Miami 1988 1993 42,500 42,500 100.0% 75.3% 32,000
Garden Square Shopping Ctr FL Miami 1991 1997 90,033 90,258 94.0% 98.6% 42,112
Aventura FL Miami 1974 1994 102,876 102,876 100.0% 98.7% 35,908
Shoppes of Pebblebrooke FL Naples 2000 2000 0 76,766 NA 79.7% 61,166
Berkshire Commons FL Naples 1992 1994 106,354 106,354 98.5% 100.0% 65,537
Willa Springs FL Orlando 1981 2000 0 93,539 NA 97.5% 44,271
Mariner's Village Shopping Ctr FL Orlando 1986 1997 117,665 117,665 94.4% 93.6% 45,500
Mainstreet Square Shopping Ctr FL Orlando 1988 1997 107,159 107,159 93.0% 94.7% 56,000
Ensley Square FL Pensacola 1977 1997 62,362 62,363 97.3% 24.5% 0
<PAGE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------
Grocery
Property Name Anchor Drug Store GLA Other Anchor or Major
------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Woodmen Plaza King Soopers -- --
Jackson Creek Crossing King Soopers -- --
Cheyenne Meadows Center King Soopers -- --
Stroh Ranch Center King Soopers -- --
Lloyd King Center King Soopers -- --
Littleton Square King Soopers Walgreen's --
Leetsdale Marketplace Safeway -- --
Buckley Square King Soopers -- True Value Hardware
Boulevard Center Safeway -- --
Redlands Marketplace Albertson's -- --
--------------------------------------------------------------------------------------------------------------------------
Pike Creek Shopping Center Acme Eckerd K-mart
--------------------------------------------------------------------------------------------------------------------------
Palm Harbour Shopping Ctr Publix Eckerd Bealls
Welleby Plaza Publix Walgreen's --
Palm Trails Plaza Winn-Dixie -- --
Town Center at Martin Downs Publix -- --
Ocean East Mall Stuart Foods -- Coastal Care
Ocean Breeze Plaza Publix Walgreen's Coastal Care
Martin Downs Village Shoppes -- Walgreen's --
Martin Downs Village Center -- -- Coastal Care
East Port Plaza Publix Walgreen's Kmart, Sears Homelife
Newberry Square Publix -- Kmart
Millhopper Shopping Center Publix Eckerd --
Regency Court -- -- CompUSA, Office Depot, Sports Auth.
Pine Tree Plaza Publix -- --
Old St. Augustine Plaza Publix Eckerd Waccamaw
Julington Village Publix -- --
Highlands Square Shopping Ctr Publix/Winn-Dixie Eckerd Big Lots
Fleming Island Shopping Ctr Publix -- Stein Mart
Fleming Island Phase II -- -- Stein Mart
Courtyard, The Albertson's -- Target
Bolton Plaza -- -- Wal-Mart
Anastasia Plaza Publix -- --
University Market Place Albertson's -- --
Tamiami Trail Plaza Publix Eckerd --
Shoppes at 104 Winn Dixie -- --
North Miami Shopping Ctr Publix -- --
Garden Square Shopping Ctr Publix Eckerd Lady of America
Aventura Publix Eckerd Humana
Shoppes of Pebblebrooke Publix -- --
Berkshire Commons Publix Walgreen's --
Willa Springs Publix -- Party Land
Mariner's Village Shopping Ctr Winn-Dixie Walgreen's World Gym
Mainstreet Square Shopping Ctr Winn-Dixie Walgreen's --
Ensley Square -- -- --
</TABLE>
17
<PAGE>
<TABLE>
------------------------------------------------------------------------------------------------------------------------------------
Regency Realty
Summary of Real Estate
(excluding Build to Suit Projects)
Sep-00
------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
Company Owned GLA Percent Leased
------------------------------------------------------------------------------------------------------------------------------------
Yr Const Grocery
or last Year Anchor
Property Name State MSA Rnvtn Acquired Dec-99 Sep-00 Dec-99 Sep-00 GLA
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Peachland Promenade FL Punta Gorda 1991 1995 82,082 82,082 89.9% 90.4% 48,890
Beneva Village Shops FL Sarasota 1987 1998 141,532 141,532 96.0% 94.3% 42,112
South Monroe Commons FL Tallahassee 1998 1996 80,188 68,840 95.5% 100.0% 48,466
Ocala Corners FL Tallahassee 2000 2000 0 86,766 NA 70.5% 61,166
Carriage Gate FL Tallahassee 1978 1994 76,833 76,833 78.6% 69.5% 0
Village Center 6 -Tampa FL Tampa 1993 1995 174,780 174,781 90.2% 90.1% 36,434
University Collection FL Tampa 1984 1996 106,627 106,627 82.6% 82.7% 40,143
Town Square FL Tampa 1999 1997 43,796 44,679 0.0% 16.8% 0
Terrace Walk FL Tampa 1990 1993 50,926 50,926 41.3% 80.8% 0
Regency Square at Brandon FL Tampa 1986 1993 341,446 341,448 87.7% 92.8% 0
Market Place - St. Petersburg FL Tampa 1983 1995 86,496 90,296 100.0% 86.4% 36,464
Kings Crossing - Sun City FL Tampa 1999 1999 75,020 75,020 68.5% 90.4% 51,420
Center of Seven Springs FL Tampa 1986 1994 162,580 162,580 86.7% 85.7% 35,000
Bloomingdale Square FL Tampa 1987 1998 267,935 267,935 95.5% 98.7% 39,795
Wellington Town Square FL West Palm Beach 1982 1996 105,150 105,150 95.8% 99.1% 36,464
Wellington Market Place FL West Palm Beach 1990 1995 178,155 171,558 90.7% 96.7% 46,475
Tequesta Shoppes FL West Palm Beach 1986 1996 109,766 109,937 93.4% 89.3% 39,795
Chasewood Storage FL West Palm Beach 1986 1993 42,810 42,810 100.0% 100.0% 0
Chasewood Plaza FL West Palm Beach 1986 1993 141,034 141,034 91.0% 87.8% 39,795
Boynton Lakes Plaza FL West Palm Beach 1993 1997 130,925 130,925 100.0% 97.8% 56,000
------------------------------------------------------------------------------------------------------------------------------------
Trowbridge Crossing GA Atlanta 1997 1997 62,558 62,558 96.3% 98.3% 37,888
Sandy Springs Village GA Atlanta 1997 1997 45,039 45,040 100.0% 100.0% 0
Sandy Plains Village I & II GA Atlanta 1992 1996 175,035 175,035 92.1% 93.2% 60,009
Russell Ridge GA Atlanta 1995 1994 98,556 98,558 100.0% 100.0% 63,296
Roswell Village GA Atlanta 1997 1997 143,980 143,980 97.7% 90.7% 37,888
Rivermont Station GA Atlanta 1996 1997 90,267 90,267 100.0% 100.0% 58,261
Powers Ferry Village GA Atlanta 1994 1997 78,995 78,995 99.9% 99.9% 47,955
Powers Ferry Square GA Atlanta 1987 1997 97,809 97,812 97.1% 96.6% 7,216
Paces Ferry Plaza GA Atlanta 1987 1997 61,693 61,696 92.3% 93.5% 0
Orchard Square GA Atlanta 1987 1995 85,941 93,222 52.3% 82.2% 44,271
Memorial Bend GA Atlanta 1995 1997 182,781 182,782 92.4% 90.0% 56,146
Lovejoy Station GA Atlanta 1995 1997 77,336 77,336 100.0% 98.2% 47,955
Loehmann's Plaza Georgia GA Atlanta 1986 1997 137,635 137,635 95.7% 100.0% 0
Dunwoody Village GA Atlanta 1975 1997 114,658 114,658 92.5% 64.0% 0
Dunwoody Hall GA Atlanta 1986 1997 82,527 89,509 48.4% 82.4% 44,271
Delk Spectrum GA Atlanta 1991 1998 100,880 100,880 100.0% 100.0% 45,044
Cumming 400 GA Atlanta 1994 1997 126,899 126,900 93.7% 98.8% 56,146
Cromwell Square GA Atlanta 1990 1997 70,282 70,282 95.1% 95.1% 0
Cambridge Square Shopping Ctr GA Atlanta 1979 1996 69,650 69,649 76.4% 71.8% 32,922
Buckhead Court GA Atlanta 1984 1997 55,227 55,229 91.3% 97.5% 0
Briarcliff Village GA Atlanta 1990 1997 183,752 183,755 92.3% 95.9% 43,454
Briarcliff LaVista Shopping Ctr GA Atlanta 1962 1997 41,098 39,203 100.0% 100.0% 0
Braelinn Village GA Atlanta 1991 1997 226,522 226,525 97.0% 99.6% 63,986
Ashford Place GA Atlanta 1993 1997 53,345 53,346 100.0% 100.0% 0
LaGrange Marketplace GA Augusta-Aiken 1989 1993 76,327 76,327 95.2% 93.8% 46,733
Parkway Station GA Macon 1983 1996 94,290 94,290 85.0% 90.7% 42,130
Evans Crossing Shopping Ctr GA Augusta-Aiken 1993 1998 83,681 83,681 100.0% 100.0% 62,580
------------------------------------------------------------------------------------------------------------------------------------
<PAGE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------
Grocery
Property Name Anchor Drug Store GLA Other Anchor or Major
------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Peachland Promenade Publix --
Beneva Village Shops Publix Walgreen's Ross Dress for Less
South Monroe Commons Winn-Dixie -- --
Ocala Corners Publix --
Carriage Gate -- -- TJ Maxx
Village Center 6 -Tampa Publix Walgreen's Stein Mart
University Collection Kash N Karry Eckerd JoAnn Fabrics
Town Square -- -- --
Terrace Walk -- -- --
Regency Square at Brandon -- -- TJ Maxx, AMC, Staples, Marshalls
Market Place - St. Petersburg Publix -- --
Kings Crossing - Sun City Publix -- --
Center of Seven Springs Winn-Dixie -- Kmart
Bloomingdale Square Publix -- Wal-Mart, Beall's, Ace Hardware
Wellington Town Square Publix Eckerd --
Wellington Market Place Winn-Dixie Walgreen's --
Tequesta Shoppes Publix -- --
Chasewood Storage -- -- --
Chasewood Plaza Publix -- Books-A-Million, Bealls
Boynton Lakes Plaza Winn-Dixie Walgreen's World Gym
--------------------------------------------------------------------------------------------------------------------------
Trowbridge Crossing Publix -- --
Sandy Springs Village -- -- Staples
Sandy Plains Village I & II Kroger -- Stein Mart
Russell Ridge Kroger -- --
Roswell Village Publix Eckerd Ace Hardware
Rivermont Station Harris Teeter CVS Drug --
Powers Ferry Village Publix CVS Drug --
Powers Ferry Square Harry's CVS Drug --
Paces Ferry Plaza -- -- --
Orchard Square Publix -- --
Memorial Bend Publix -- TJ Maxx
Lovejoy Station Publix -- --
Loehmann's Plaza Georgia -- Eckerd Loehmann's
Dunwoody Village -- -- --
Dunwoody Hall Publix Eckerd --
Delk Spectrum A&P Eckerd --
Cumming 400 Publix -- Big Lots
Cromwell Square -- CVS Drug Haverty's Furniture
Cambridge Square Shopping Ctr Harris Teeter -- --
Buckhead Court -- -- --
Briarcliff Village Publix -- TJ Maxx, Office Depot
Briarcliff LaVista Shopping Ctr -- Drug Emporium --
Braelinn Village Kroger -- Kmart
Ashford Place -- -- Pier 1 Imports
LaGrange Marketplace Winn-Dixie Eckerd --
Parkway Station Kroger -- --
Evans Crossing Shopping Ctr Kroger -- --
--------------------------------------------------------------------------------------------------------------------------
</TABLE>
18
<PAGE>
<TABLE>
------------------------------------------------------------------------------------------------------------------------------------
Regency Realty
Summary of Real Estate
(excluding Build to Suit Projects)
Sep-00
------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Company Owned GLA Percent Leased
------------------------------------------------------------------------------------------------------------------------------------
Yr Const Grocery
or last Year Anchor
Property Name State MSA Rnvtn Acquired Dec-99 Sep-00 Dec-99 Sep-00 GLA
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Hinsdale Lake Commons IL Chicago 1986 1998 178,600 178,601 85.9% 86.4% 69,540
------------------------------------------------------------------------------------------------------------------------------------
Silverlake Shopping Center KY Cincinnati 1988 1998 100,246 99,286 93.4% 96.3% 60,000
Franklin Square Shopping Ctr KY Lexington 1988 1998 205,061 205,061 91.8% 88.0% 50,499
------------------------------------------------------------------------------------------------------------------------------------
Waterford Towne Center MI Detroit 1998 1998 91,921 91,921 72.6% 91.6% 60,202
Lakeshore Village Shopping Ctr MI Detroit 1996 1998 85,395 85,940 98.7% 94.7% 49,465
Fenton Village Marketplace MI Flint 1999 1999 73,339 73,351 73.3% 80.9% 53,739
------------------------------------------------------------------------------------------------------------------------------------
St. Ann Square MO St. Louis 1986 1998 82,498 82,498 95.8% 95.8% 43,483
Olde Towne Plaza MO St. Louis 2000 2000 0 286,547 NA 57.8% 0
------------------------------------------------------------------------------------------------------------------------------------
Lucedale MS Columbia 1989 1993 49,059 49,059 91.0% 96.3% 35,059
Columbia Marketplace MS Lucedale 1988 1993 136,002 136,002 98.7% 98.2% 41,895
------------------------------------------------------------------------------------------------------------------------------------
Union Square Shopping Center NC Asheville 1989 1996 97,191 97,191 98.8% 97.5% 34,400
Southpoint Crossing NC Charlotte 1998 1998 103,128 103,128 92.6% 94.0% 59,160
City View Shopping Center NC Charlotte 1993 1996 77,550 77,552 95.4% 98.5% 44,000
Carmel Commons NC Charlotte 1979 1997 132,651 132,651 96.5% 95.8% 14,300
Sedgefield Village NC Greensboro 2000 2000 0 56,630 NA 67.0% 37,930
Kernersville Marketplace SC NC Greensboro 1997 1998 72,590 72,590 100.0% 95.9% 57,590
Woodcroft Shopping Center NC Raleigh 1984 1996 85,353 89,833 100.0% 100.0% 40,832
Oakley Plaza NC Raleigh 1988 1997 118,728 118,728 100.0% 97.7% 42,317
Maynard Crossing Shopping Ctr NC Raleigh 1997 1998 122,814 122,814 98.2% 98.2% 55,973
Lake Pine Plaza NC Raleigh 1997 1998 87,691 87,691 97.6% 97.6% 57,590
Glenwood Village NC Raleigh 1983 1997 42,864 42,864 100.0% 100.0% 27,764
Garner Towne Square NC Raleigh 1998 1998 221,576 221,576 98.1% 100.0% 57,590
Bent Tree Plaza NC Raleigh 1994 1998 79,503 79,503 100.0% 100.0% 54,153
------------------------------------------------------------------------------------------------------------------------------------
Echelon Village Plaza NJ Philadelphia 2000 2000 0 88,867 NA 85.1% 48,750
------------------------------------------------------------------------------------------------------------------------------------
Westchester Plaza OH Cincinnati 1988 1998 88,181 88,181 100.0% 96.8% 66,523
Shoppes at Mason OH Cincinnati 1997 1998 80,880 80,800 95.1% 100.0% 56,800
Hyde Park Plaza OH Cincinnati 1995 1997 374,544 374,544 98.1% 94.7% 138,592
Hamilton Meadows OH Cincinnati 1989 1998 126,252 0 97.8% 0.0% 0
Cherry Grove Plaza OH Cincinnati 1997 1998 185,498 195,497 100.0% 97.7% 66,336
Beckett Commons Shopping Ctr OH Cincinnati 1995 1998 112,936 112,936 100.0% 100.0% 56,634
Worthington Park Centre OH Columbus 1991 1998 93,094 93,095 100.0% 100.0% 52,337
Windmiller Square OH Columbus 1997 1998 120,509 120,509 97.1% 95.4% 76,555
Park Place Center OH Columbus 1988 1998 106,833 106,833 98.6% 98.6% 56,859
Northgate Plaza OH Columbus 1996 1998 85,101 85,100 100.0% 100.0% 62,000
Kroger New Albany Center OH Columbus 1999 1999 91,805 91,805 82.5% 90.9% 63,805
Kingsdale Shopping Center OH Columbus 1999 1997 270,697 270,470 74.0% 71.6% 55,768
East Pointe Crossing Shopping Ctr OH Columbus 1993 1998 86,524 86,525 95.1% 100.0% 59,120
------------------------------------------------------------------------------------------------------------------------------------
West Hills Plaza OR Portland 1998 1999 53,579 53,579 100.0% 100.0% 30,154
Walker Center OR Portland 1987 1999 89,624 89,624 100.0% 100.0% 0
Sunnyside 205 OR Portland 1988 1999 53,279 53,279 93.6% 85.0% 0
Sherwood Market Center OR Portland 1995 1999 124,256 124,256 97.3% 99.2% 49,793
Sherwood Crossroads OR Portland 1999 1999 32,600 87,750 0.0% 62.8% 55,150
Port of Portland OR Portland 2000 2000 0 67,240 NA 85.3% 57,370
Murrayhill Marketplace OR Portland 1988 1999 149,214 149,214 98.4% 96.9% 41,132
Cherry Park Market Center OR Portland 1997 1999 113,518 113,518 78.5% 82.7% 55,164
------------------------------------------------------------------------------------------------------------------------------------
Queensborough Shopping Ctr SC Charleston 1993 1998 82,333 82,333 97.7% 100.0% 65,796
Merchants Village SC Charleston 1997 1997 79,723 79,723 100.0% 96.3% 37,888
------------------------------------------------------------------------------------------------------------------------------------
Peartree Village TN Nashville 1997 1997 114,795 114,795 100.0% 100.0% 65,538
Northlake Village TN Nashville 1988 2000 0 151,629 NA 99.0% 64,537
Nashboro Village TN Nashville 1998 1998 86,811 86,811 96.5% 100.0% 61,224
Harpeth Village TN Nashville 1998 1997 70,091 70,091 100.0% 100.0% 55,377
------------------------------------------------------------------------------------------------------------------------------------
<PAGE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------
Grocery
Property Name Anchor Drug Store GLA Other Anchor or Major
------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Hinsdale Lake Commons Dominick's -- Ace Hardware
--------------------------------------------------------------------------------------------------------------------------
Silverlake Shopping Center Kroger -- --
Franklin Square Shopping Ctr Kroger Rite Aid JC Penney, Office Depot
--------------------------------------------------------------------------------------------------------------------------
Waterford Towne Center Kroger -- --
Lakeshore Village Shopping Ctr Kroger Rite Aid --
Fenton Village Marketplace Farmer Jack -- --
--------------------------------------------------------------------------------------------------------------------------
St. Ann Square National -- Bally Total Fitness
Olde Towne Plaza -- --
--------------------------------------------------------------------------------------------------------------------------
Lucedale Delchamps -- Wal-Mart
Columbia Marketplace Winn-Dixie -- Wal-Mart
--------------------------------------------------------------------------------------------------------------------------
Union Square Shopping Center Harris Teeter CVS Drug Consolidated Theatres
Southpoint Crossing Kroger -- --
City View Shopping Center Winn-Dixie CVS Drug Public Library
Carmel Commons Fresh Market Eckerd Piece Goods
Sedgefield Village Food Lion -- --
Kernersville Marketplace SC Harris Teeter -- --
Woodcroft Shopping Center Food Lion -- True Value
Oakley Plaza Bi-Lo CVS Drug Baby Superstore, Western Auto
Maynard Crossing Shopping Ctr Kroger -- --
Lake Pine Plaza Kroger -- Pet Depot
Glenwood Village Harris Teeter -- --
Garner Towne Square Kroger -- Target, United Artists, Office Max
Bent Tree Plaza Kroger -- --
--------------------------------------------------------------------------------------------------------------------------
Echelon Village Plaza Genuardi's --
--------------------------------------------------------------------------------------------------------------------------
Westchester Plaza Kroger -- --
Shoppes at Mason Kroger -- --
Hyde Park Plaza Kroger/Winn-Dixie Walgreen's Micheals, Barnes & Noble, Old Navy
Hamilton Meadows -- --
Cherry Grove Plaza Kroger CVS Drug TJ Maxx, Hancock Fabrics
Beckett Commons Shopping Ctr Kroger -- Stein Mart
Worthington Park Centre Kroger CVS Drug --
Windmiller Square Kroger -- Sears Hardware
Park Place Center Big Bear -- --
Northgate Plaza Kroger -- --
Kroger New Albany Center Kroger --
Kingsdale Shopping Center Big Bear -- Stein Mart, S&K Menswear
East Pointe Crossing Shopping Ctr Kroger -- --
--------------------------------------------------------------------------------------------------------------------------
West Hills Plaza QFC -- --
Walker Center -- -- Sportmart
Sunnyside 205 -- -- --
Sherwood Market Center Albertson's -- --
Sherwood Crossroads Safeway -- --
Port of Portland Albertson's --
Murrayhill Marketplace Thriftway -- --
Cherry Park Market Center Safeway -- --
--------------------------------------------------------------------------------------------------------------------------
Queensborough Shopping Ctr Publix -- --
Merchants Village Publix -- --
--------------------------------------------------------------------------------------------------------------------------
Peartree Village Harris Teeter Eckerd Office Max
Northlake Village Kroger CVS Drug Petco
Nashboro Village Kroger -- --
Harpeth Village Albertson's -- --
--------------------------------------------------------------------------------------------------------------------------
</TABLE>
19
<PAGE>
<TABLE>
------------------------------------------------------------------------------------------------------------------------------------
Regency Realty
Summary of Real Estate
(excluding Build to Suit Projects)
Sep-00
------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Company Owned GLA Percent Leased
------------------------------------------------------------------------------------------------------------------------------------
Yr Const Grocery
or last Year Anchor
Property Name State MSA Rnvtn Acquired Dec-99 Sep-00 Dec-99 Sep-00 GLA
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
North Hills Town Center TX Austin 1995 1999 144,019 144,019 98.7% 95.6% 60,465
Market at Round Rock, The TX Austin 1987 1999 123,345 123,345 99.8% 97.9% 63,800
Hancock Center TX Austin 1998 1999 413,757 410,438 97.6% 99.2% 90,217
Valley Ranch Centre TX Dallas 1997 1999 117,281 117,187 99.9% 95.7% 55,750
The Village TX Dallas 1982 1999 95,148 95,148 90.7% 93.8% 52,480
Shiloh Springs TX Dallas 1998 1998 88,865 110,265 96.8% 93.6% 60,932
Prestonwood Park TX Dallas 1999 1999 100,421 100,972 48.6% 59.5% 62,322
Prestonbrook Crossing TX Dallas 1998 1998 91,274 91,274 96.5% 98.1% 63,373
Preston Park Village TX Dallas 1985 1999 268,869 268,869 99.4% 95.9% 52,688
Ocotillo Center TX Dallas 2000 2000 0 40,765 NA 19.5% 55,255
Northview Plaza TX Dallas 1991 1999 117,034 116,554 91.6% 87.7% 58,890
Mockingbird Commons TX Dallas 1987 1999 121,415 121,531 93.2% 94.1% 48,525
Mills Pointe TX Dallas 1986 1999 126,238 126,238 97.4% 99.0% 52,688
Market at Preston Forest, The TX Dallas 1990 1999 90,170 90,171 100.0% 100.0% 50,365
MacArthur Park (Phase II) TX Dallas 1999 1999 197,643 198,600 59.5% 89.6% 63,373
Lebanon/Legacy Center TX Dallas 2000 2000 0 60,222 NA 5.5% 64,843
Hillcrest Village TX Dallas 1991 1999 14,488 14,530 100.0% 100.0% 0
Hebron Parkway Plaza TX Dallas 1999 1999 47,312 47,013 76.2% 95.3% 59,460
Casa Linda Plaza TX Dallas 1997 1999 324,620 324,639 87.4% 87.1% 59,561
Bethany Park Place Shopping Ctr TX Dallas 1998 1998 74,066 74,066 100.0% 100.0% 58,374
Arapaho Village TX Dallas 1997 1999 108,816 107,737 82.4% 93.8% 43,256
Trophy Club TX Fort Worth 1999 1999 107,700 125,063 72.1% 72.0% 63,280
Tarrant Parkway Plaza TX Fort Worth 1999 1999 33,500 33,079 12.5% 84.4% 69,861
Southlake - Village Center TX Fort Worth 1998 1998 118,172 118,172 88.6% 86.0% 60,932
Ridglea Plaza TX Fort Worth 1986 1999 197,961 197,961 79.6% 86.8% 51,500
Keller Town Center TX Fort Worth 1999 1999 113,000 114,822 62.4% 85.4% 63,631
Harwood Hills Village TX Fort Worth 1996 1999 122,860 122,540 93.9% 89.1% 52,480
Creekside Plaza TX Fort Worth 1998 1998 96,816 96,816 96.0% 98.6% 60,932
Cooper Street Plaza TX Fort Worth 1992 1999 133,239 133,215 100.0% 100.0% 0
Fort Bend Market TX Houston 2000 2000 0 103,373 NA 61.3% 63,373
Champion Forest Shopping Ctr TX Houston 1983 1999 115,295 115,379 96.9% 99.2% 56,457
Southpark TX Tyler 1997 1999 146,225 145,888 93.9% 90.8% 54,980
------------------------------------------------------------------------------------------------------------------------------------
Brookville Plaza VA Lynchburg 1991 1998 63,664 63,664 95.8% 92.5% 52,864
Statler Square Shopping Ctr VA Staunton 1996 1998 133,660 133,660 96.3% 96.3% 65,003
Cheshire Station VA Washington DC 2000 2000 0 100,641 NA 61.0% 55,256
------------------------------------------------------------------------------------------------------------------------------------
Thomas Lake Center WA Seattle 1998 1999 103,870 103,872 100.0% 100.0% 50,065
Southcenter Plaza WA Seattle 1990 1999 58,281 58,281 100.0% 100.0% 0
South Point Plaza WA Seattle 1997 1999 190,454 190,454 98.9% 100.0% 55,443
Seattle Fur Exchange WA Seattle 2000 2000 0 84,380 NA 74.3% 0
Sammamish Highlands WA Seattle 1992 1999 101,289 101,289 100.0% 100.0% 55,000
Pine Lake Village WA Seattle 1989 1999 100,953 100,953 100.0% 100.0% 36,182
Lake Meridian Marketplace WA Seattle 1989 1999 165,210 165,210 92.7% 95.0% 56,482
Inglewood Plaza WA Seattle 1985 1999 17,253 17,253 100.0% 94.2% 0
Cascade Plaza WA Seattle 1999 1999 215,477 217,817 67.1% 90.6% 49,440
James Center WA Tacoma 1999 1999 114,175 140,500 86.9% 88.7% 68,273
------------------------------------------------------------------------------------------------------------------------------------
Dell Range Marketplace WY Cheyenne 1999 1999 75,000 87,771 81.3% 76.0% 61,000
------------------------------------------------------------------------------------------------------------------------------------
Regency Realty Total 24,769,498 27,121,631 92.4% 90.8% 10,600,809
====================================================================================================================================
<PAGE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------
Grocery
Property Name Anchor Drug Store GLA Other Anchor or Major
------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
North Hills Town Center H.E.B. -- --
Market at Round Rock, The Albertson's -- --
Hancock Center H.E.B. -- Sears, Old Navy, Petco
Valley Ranch Centre Tom Thumb -- --
The Village Tom Thumb -- --
Shiloh Springs Kroger -- --
Prestonwood Park Albertson's -- --
Prestonbrook Crossing Kroger -- --
Preston Park Village Tom Thumb -- Sony Theatres, Gap
Ocotillo Center Safeway --
Northview Plaza Kroger -- --
Mockingbird Commons Tom Thumb -- --
Mills Pointe Tom Thumb -- --
Market at Preston Forest, The Tom Thumb -- Petco
MacArthur Park (Phase II) Kroger -- Barnes & Noble, Linens 'N Things
Lebanon/Legacy Center Albertson's --
Hillcrest Village -- -- --
Hebron Parkway Plaza Albertson's -- --
Casa Linda Plaza Albertson's Eckerd Fitness Factory, Petco
Bethany Park Place Shopping Ctr Kroger -- --
Arapaho Village Tom Thumb -- --
Trophy Club Tom Thumb -- --
Tarrant Parkway Plaza Albertson's --
Southlake - Village Center Kroger -- --
Ridglea Plaza Tom Thumb Eckerd Stein Mart
Keller Town Center Tom Thumb -- --
Harwood Hills Village Tom Thumb -- --
Creekside Plaza Kroger -- --
Cooper Street Plaza -- -- Circuit City, Office Max, Sears Homelife
Fort Bend Market Kroger --
Champion Forest Shopping Ctr Randall's Food Eckerd --
Southpark Albertson's -- Bealls
--------------------------------------------------------------------------------------------------------------------------
Brookville Plaza Kroger -- --
Statler Square Shopping Ctr Kroger CVS Drug Staples
Cheshire Station Safeway --
--------------------------------------------------------------------------------------------------------------------------
Thomas Lake Center Albertson's Rite Aid --
Southcenter Plaza -- -- Target
South Point Plaza Cost Cutters Rite Aid Office Depot, Pep Boys
Seattle Fur Exchange -- --
Sammamish Highlands Safeway Bartell Drugs Sammamish Ace Hardward
Pine Lake Village Quality Foods Rite Aid --
Lake Meridian Marketplace Fred Myer Bartell Drugs 24 Hour Fitness
Inglewood Plaza -- -- --
Cascade Plaza Safeway Long's Drugs Ross Dress for Less, Bally Total Fitness
James Center Fred Myer Rite Aid --
--------------------------------------------------------------------------------------------------------------------------
Dell Range Marketplace King Soopers -- --
--------------------------------------------------------------------------------------------------------------------------
Regency Realty Total
==========================================================================================================================
</TABLE>
20
<PAGE>
<TABLE>
------------------------------------------------------------------------------------------------------------------------------------
Regency Realty
Summary of Real Estate
(excluding Build to Suit Projects)
Sep-00
------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Company Owned GLA Percent Leased
------------------------------------------------------------------------------------------------------------------------------------
Yr Const Grocery Other
or last Year Anchor Grocery Drug Anchor
Property Name State MSA Rnvtn Acquired Dec-99 Sep-00 Dec-99 Sep-00 GLA Anchor Store or Major
------------------------------------------------------------------------------------------------------------------------------------
Stabilized # of # of
Properties Centers Grocery
---------- ------- -------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Florida FL 44 5,446,349 5,507,306 91.7% 92.8% 1,624,944 36
Texas TX 24 3,297,285 3,312,995 94.0% 94.3% 1,268,105 22
California CA 31 3,858,628 3,518,733 96.4% 97.9% 1,335,066 29
Georgia GA 24 2,478,645 2,476,770 95.5% 95.0% 776,687 16
Ohio OH 10 1,460,352 1,344,020 98.4% 97.4% 691,756 10
North Carolina NC 12 1,241,639 1,246,121 97.9% 98.0% 545,669 12
Colorado CO 9 865,685 867,471 96.6% 97.9% 567,141 9
Washington WA 7 737,310 737,312 98.1% 98.7% 253,172 5
Oregon OR 6 583,470 583,470 94.2% 94.3% 176,243 4
Alabama AL 5 516,061 516,062 99.5% 97.9% 199,518 5
Arizona AZ 2 326,984 328,984 99.7% 99.6% 70,755 2
Tennessee TN 4 271,697 423,326 98.9% 99.6% 246,676 4
Delaware DE 1 232,754 228,169 96.3% 98.6% 49,069 1
Kentucky KY 2 305,307 304,347 92.3% 90.7% 110,499 2
Virginia VA 2 197,324 197,324 96.1% 95.1% 117,867 2
Mississippi MS 2 185,061 185,061 96.6% 97.7% 76,954 2
Illinois IL 1 178,600 178,601 85.9% 86.4% 69,540 1
Michigan MI 2 177,316 177,861 85.2% 93.1% 109,667 2
South Carolina SC 2 162,056 162,056 98.8% 98.2% 103,684 2
Wyoming WY 0 0 0 0.0% 0.0% 0 0
Missouri MO 1 82,498 82,498 95.8% 95.8% 43,483 1
New Jersey NJ 0 0 0 0.0% 0.0% 0 0
------------------------------------------------------------------------------------------------------------------------------------
191 22,605,020 22,378,487 95.0% 95.5% 8,436,494 167
====================================================================================================================================
</TABLE>
21
<PAGE>
<TABLE>
------------------------------------------------------------------------------------------------------------------------------------
Regency Realty
Summary of Real Estate
(excluding Build to Suit Projects)
Sep-00
------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Company Owned GLA Percent Leased
------------------------------------------------------------------------------------------------------------------------------------
Yr Const Grocery Other
or last Year Anchor Grocery Drug Anchor
Property Name State MSA Rnvtn Acquired Dec-99 Sep-00 Dec-99 Sep-00 GLA Anchor Store or Major
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Development,
Redevelopment
and Renovation
Projects
---------------
Florida FL 8 463,185 761,576 69.0% 80.3% 353,757 6
Texas TX 8 552,264 776,896 57.7% 68.0% 505,938 8
California CA 7 0 1,142,616 0.0% 56.4% 299,735 6
Georgia GA 3 238,118 252,380 58.0% 79.4% 121,464 3
Ohio OH 2 362,502 362,275 76.1% 76.5% 119,573 2
North Carolina NC 1 0 56,630 0.0% 67.0% 37,930 1
Colorado CO 1 37,817 30,317 36.3% 18.3% 55,922 1
Washington WA 3 329,652 442,697 74.0% 86.9% 117,713 2
Oregon OR 2 32,600 154,990 0.0% 72.6% 112,520 2
Alabama AL 0 0 0 0.0% 0.0% 0 0
Arizona AZ 4 0 125,590 0.0% 19.6% 221,017 4
Tennessee TN 0 0 0 0.0% 0.0% 0 0
Delaware DE 0 0 0 0.0% 0.0% 0 0
Kentucky KY 0 0 0 0.0% 0.0% 0 0
Virginia VA 1 0 100,641 0.0% 61.0% 55,256 1
Mississippi MS 0 0 0 0.0% 0.0% 0 0
Illinois IL 0 0 0 0.0% 0.0% 0 0
Michigan MI 1 73,339 73,351 73.3% 80.9% 53,739 1
South Carolina SC 0 0 0 0.0% 0.0% 0 0
Wyoming WY 1 75,000 87,771 81.3% 76.0% 61,000 1
Missouri MO 1 0 286,547 0.0% 57.8% 0 0
New Jersey NJ 1 0 88,867 0.0% 85.1% 48,750 1
------------------------------------------------------------------------------------------------------------------------------------
44 2,164,476 4,743,144 65.8% 68.6% 2,164,313 39
====================================================================================================================================
</TABLE>
22
<PAGE>
<TABLE>
------------------------------------------------------------------------------------------------------------------------------------
Regency Realty
Summary of Real Estate
(excluding Build to Suit Projects)
Sep-00
------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Company Owned GLA Percent Leased
------------------------------------------------------------------------------------------------------------------------------------
Yr Const Grocery Other
or last Year Anchor Grocery Drug Anchor
Property Name State MSA Rnvtn Acquired Dec-99 Sep-00 Dec-99 Sep-00 GLA Anchor Store or Major
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Operating and
Development
-------------
Florida FL 52 5,909,534 6,268,882 89.9% 91.3% 1,978,701 42
Texas TX 32 3,849,549 4,089,891 88.8% 89.3% 1,774,043 30
California CA 38 3,858,628 4,661,349 96.4% 87.7% 1,634,801 35
Georgia GA 27 2,716,763 2,729,150 92.3% 93.6% 898,151 19
Ohio OH 12 1,822,854 1,706,295 94.0% 93.0% 811,329 12
North Carolina NC 13 1,241,639 1,302,751 97.9% 96.6% 583,599 13
Colorado CO 10 903,502 897,788 94.1% 95.2% 623,063 10
Washington WA 10 1,066,962 1,180,009 90.6% 94.3% 370,885 7
Oregon OR 8 616,070 738,460 89.2% 89.7% 288,763 6
Alabama AL 5 516,061 516,062 99.5% 97.9% 199,518 5
Arizona AZ 6 326,984 454,574 99.7% 77.5% 291,772 6
Tennessee TN 4 271,697 423,326 98.9% 99.6% 246,676 4
Delaware DE 1 232,754 228,169 96.3% 98.6% 49,069 1
Kentucky KY 2 305,307 304,347 92.3% 90.7% 110,499 2
Virginia VA 3 197,324 297,965 96.1% 83.6% 173,123 3
Mississippi MS 2 185,061 185,061 96.6% 97.7% 76,954 2
Illinois IL 1 178,600 178,601 85.9% 86.4% 69,540 1
Michigan MI 3 250,655 251,212 81.7% 89.5% 163,406 3
South Carolina SC 2 162,056 162,056 98.8% 98.2% 103,684 2
Wyoming WY 1 75,000 87,771 81.3% 76.0% 61,000 1
Missouri MO 2 82,498 369,045 95.8% 66.3% 43,483 1
New Jersey NJ 1 0 88,867 0.0% 85.1% 48,750 1
------------------------------------------------------------------------------------------------------------------------------------
235 24,769,498 27,121,631 92.4% 90.8% 10,600,808 206
====================================================================================================================================
</TABLE>
23
<PAGE>
<TABLE>
------------------------------------------------------------------------------------------------------------------------------------
Regency Realty Corporation
Summary of Tenant Rents exceeding .5% of Total Rents
September 30, 2000
------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
% of Annualized
% to Company Annualized Company # of Leased
Tenant Tenant GLA Owned GLA (C) Base Rent Base Rent (C) Stores
====================================================================================================================================
<S> <C> <C> <C> <C> <C>
Kroger 3,327,181 12.3% 30,359,391 11.1% 57
Safeway 1,481,454 5.5% 13,360,531 4.9% 30
Publix 1,854,387 6.8% 13,218,956 4.8% 41
Blockbuster 380,921 1.4% 6,765,734 2.5% 67
Albertsons 702,097 2.6% 6,301,880 2.3% 14
Winn Dixie 760,329 2.8% 5,286,371 1.9% 16
Hallmark 235,003 0.9% 3,418,591 1.3% 56
Wal-Mart / Sams 593,079 2.2% 3,107,436 1.1% 7
Harris Teeter 276,475 1.0% 2,984,436 1.1% 6
K-Mart 421,166 1.6% 2,213,233 0.8% 5
Walgreens 221,331 0.8% 2,184,092 0.8% 16
Long's Drugs 207,715 0.8% 1,943,129 0.7% 9
Hollywood Video 95,965 0.4% 1,712,390 0.6% 15
Eckerd 194,070 0.7% 1,676,922 0.6% 20
H.E.B. Grocery 150,682 0.6% 1,674,162 0.6% 2
Stein Mart 251,445 0.9% 1,560,875 0.6% 7
Mail Boxes, Etc. 87,141 0.3% 1,492,060 0.5% 66
Target 240,086 0.9% 1,382,504 0.5% 2
Rite Aid 140,180 0.5% 1,368,549 0.5% 9
GNC 81,671 0.3% 1,335,374 0.5% 58
<CAPTION>
# of Stores
GLA owned & occupied by the anchor not included above: # of Stores w/ Leased
------------------------------------------------------ ----------- ---------
<S> <C> <C> <C>
Safeway 590,272 11 41
Wal-Mart (Lucedale) 54,962 1 8
Albertsons 438,318 7 21
Target 235,000 2 4
Food World / Brunos 42,848 1 2
Kash N Karry / Food Lion 40,143 1 3
-------------
1,401,543
=============
</TABLE>
(C) GLA and Annualized Company base rent includes all joint ventures and
properties under development
24
<PAGE>
<TABLE>
------------------------------------------------------------------------------------------------------------------------------------
Regency Centers, L.P.
Summary of Tenant Rents exceeding .5% of Total Rents
September 30, 2000
------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
% of Annualized
% to Company Annualized Company # of Leased
Tenant Tenant GLA Owned GLA (C) Base Rent Base Rent (C) Stores
====================================================================================================================================
<S> <C> <C> <C> <C> <C>
Kroger 3,327,181 13.2% 30,359,391 11.8% 57
Safeway 1,481,454 5.9% 13,360,531 5.2% 30
Publix 1,708,884 6.8% 12,385,585 4.8% 37
Blockbuster 374,521 1.5% 6,616,422 2.6% 66
Albertsons 702,097 2.8% 6,301,880 2.4% 14
Winn Dixie 553,411 2.2% 4,101,033 1.6% 11
Hallmark 222,035 0.9% 3,249,456 1.3% 52
Harris Teeter 276,475 1.1% 2,984,436 1.2% 6
K-Mart 421,166 1.7% 2,213,233 0.9% 5
Wal-Mart / Sams 331,080 1.3% 2,140,702 0.8% 3
Long's Drugs 207,715 0.8% 1,943,129 0.8% 9
Walgreens 192,401 0.8% 1,855,359 0.7% 14
Hollywood Video 95,965 0.4% 1,712,390 0.7% 15
H.E.B. Grocery 150,682 0.6% 1,674,162 0.6% 2
Stein Mart 251,445 1.0% 1,560,875 0.6% 7
Eckerd 166,812 0.7% 1,492,150 0.6% 17
Mail Boxes, Etc. 85,741 0.3% 1,464,691 0.6% 65
<CAPTION>
# of Stores
GLA owned & occupied by the anchor not included above: # of Stores w/ Leased
------------------------------------------------------ ----------- ---------
<S> <C> <C> <C>
Safeway 590,272 11 41
Albertsons 375,547 4 18
Target 235,000 2 3
Kash N Karry / Food Lion 40,143 1 3
------------
1,240,962
============
</TABLE>
(C) GLA and Annualized Company base rent includes all joint ventures and
properties under development
25
<PAGE>
--------------------------------------------------------------------------------
Regency Realty Corporation
Tenant Lease Expirations
--------------------------------------------------------------------------------
The following table sets forth, for all leases in place as of September 30, 2000
a schedule of the lease expirations of operating properties for the next ten
years, assuming that no tenants exercise renewal options:
Future Percent of
Percent of Minimum Rent Total
Lease Expiration Total Under Expiring Minimum
Year Expiring GLA Company SF Leases Rent (2)
================================================================================
(1) 508,560 2.2% 6,094,292 2.3%
2000 365,122 1.6% 5,526,999 2.1%
2001 1,709,485 7.4% 24,788,805 9.5%
2002 1,943,905 8.5% 26,261,283 10.1%
2003 2,033,982 8.9% 27,530,528 10.6%
2004 2,114,636 9.2% 29,130,727 11.2%
2005 2,007,677 8.7% 24,482,881 9.4%
2006 1,235,011 5.4% 12,939,095 5.0%
2007 1,022,255 4.5% 10,332,697 4.0%
2008 1,121,490 4.9% 9,680,168 3.7%
2009 687,395 3.0% 7,434,871 2.9%
===========================================================
10 Year Total 14,749,518 64.2% 184,202,346 70.6%
Thereafter 8,220,131 35.8% 76,524,133 29.4%
===========================================================
22,969,649 100.0% 260,726,479 100.0%
--------------------------------------------------------------------------------
(1) Leases currently under month to month lease or in process of renewal
(2) Total rent includes minimum rent for all properties, but excludes
additional rent such as percentage rent, common area maintenance, real
estate taxes, and insurance reimbursements.
26
<PAGE>
--------------------------------------------------------------------------------
Regency Center, L.P.
Tenant Lease Expirations
--------------------------------------------------------------------------------
The following table sets forth, for all leases in place as of September 30, 2000
a schedule of the lease expirations of operating properties for the next ten
years, assuming that no tenants exercise renewal options:
Future Percent of
Percent of Minimum Rent Total
Lease Expiration Total Under Expiring Minimum
Year Expiring GLA Company SF Leases Rent (2)
================================================================================
(1) 453,926 2.1% 5,501,502 2.2%
2000 354,247 1.7% 5,387,332 2.2%
2001 1,596,621 7.5% 23,212,629 9.4%
2002 1,805,052 8.5% 24,675,932 10.0%
2003 1,785,981 8.4% 25,453,752 10.3%
2004 2,036,140 9.6% 28,361,019 11.5%
2005 1,886,536 8.9% 23,554,057 9.6%
2006 1,115,726 5.3% 11,963,557 4.9%
2007 952,404 4.5% 10,069,653 4.1%
2008 920,288 4.3% 8,781,510 3.6%
2009 561,236 2.6% 6,456,252 2.6%
==========================================================
10 Year Total 13,468,157 63.6% 173,417,195 70.3%
Thereafter 7,712,172 36.4% 73,108,447 29.7%
==========================================================
21,180,329 100.0% 246,525,642 100.0%
--------------------------------------------------------------------------------
(1) Leases currently under month to month lease or in process of renewal
(2) Total rent includes minimum rent for all properties, but excludes
additional rent such as percentage rent, common area maintenance, real
estate taxes, and insurance reimbursements.
27
<PAGE>
Regency Realty Corporation
Press Release
--------------------------------------------------------------------------------
FOR IMMEDIATE RELEASE CONTACT: LISA PALMER
(904) 598-7636
--------------------------------------------------------------------------------
REGENCY REALTY ANNOUNCES THIRD QUARTER RESULTS
Funds from Operations Per Share Increase 8.2%
JACKSONVILLE, FLA. (November 3, 2000) -- Regency Realty Corporation (NYSE: REG)
announced today financial and operating results for the quarter ended September
30, 2000. Funds from Operations (FFO) increased to $39.7 million, or $0.66 per
diluted share, an increase of 8.2% over FFO of $0.61 per diluted share in the
third quarter of 1999. For the nine months ended September 30, 2000, FFO
increased to $114.7 million, or $1.91 per diluted share, from $99.7 million, or
$1.78 per diluted share for the same period last year - a per diluted share
increase of 7.3%.
Net income for common stockholders for the third quarter, was $23.9 million, or
$0.42 per diluted share, compared to $24.0 million, or $0.40 per diluted share,
for the same period in 1999. For the nine month period ended September 30, 2000,
net income for common stockholders was $60.9 million, or $1.07 per diluted
share, compared to $61.8 million, or $1.16 per diluted share, in 1999. Year over
year, the per-share comparison is affected by a $6.9 million non-recurring
provision for the estimated loss on operating properties held for sale. Without
this provision, net income for common stockholders for the nine months ended
September 30, 2000 would have been $67.8 million, or $1.19 per diluted share,
compared to $61.8 million, or $1.16 per diluted share, for the same period last
year.
Martin E. Stein, Jr., Chairman and Chief Executive Officer, said, "Regency
continues to generate per share growth from same property net operating income,
the investment of free cash flow, and the profitability of Regency's development
program."
Portfolio Results
For the third quarter, same property net operating income (NOI) increased 7.3%.
Year to date, same property NOI has increased 4.4%. The same property portfolio
is represented by 21.7 million square feet, or 98.7% of Regency's operating
portfolio. Mary Lou Fiala, President and Chief Operating Officer, said, "Strong
rent growth, gains in overall occupancy, and increased specialty income led to
another quarter of same store NOI growth in excess of 4%. However, we expect
expense and recovery timing variances to reverse in the fourth quarter resulting
in same store NOI growth to approximate 3% for the year 2000."
The portfolio, excluding in-process development properties was 94.7% leased at
September 30, 2000. In the first nine months of the year, Regency completed 901
new and renewal leases totaling 3.2 million square feet with average rental
rates increasing 7.3% on a same space basis.
Investment and Development Activity
During the third quarter, the company increased its development pipeline with 11
new projects, including ten shopping center projects and one single-tenant
development. Combined with those that were already in process at the start of
the quarter, this brings the company to 38 shopping center developments and
redevelopments, 6 renovations of operating properties, and 13 single-tenant
projects in process.
Also during the quarter, the Company sold two developments. Combined with the 11
projects that sold in the first half of the year, the Company has completed 13
for-sale transactions at a gross sales price in excess of $87 million and an
average capitalization rate of 9.1%, generating $10 million in profits net of
tax.
Balance Sheet and Capital Markets Activity
During the quarter, the Company issued $150 million of ten-year senior unsecured
notes at an interest rate of 8.45%. The Company also completed the sale of $24
million of perpetual preferred units at a rate of 8.75%. The proceeds were used
to reduce the amounts outstanding under Regency's revolving line of credit. At
quarter end, there was $320 million available under its $625 million unsecured
credit facility.
During the quarter, Regency executed a letter of intent with a domestic
institutional investor to form a co-investment partnership to invest in a $300
million portfolio of neighborhood and community shopping centers. Regency has
agreed to sell four to five stabilized developments to the partnership, while
the institutional investor will contribute three centers. In addition, the
partnership plans to acquire approximately $150 million of properties throughout
the country. The Company expects to close the partnership by year-end and will
provide further details at that time.
Dividend
On November 1, 2000, the Board of Directors declared the regular quarterly cash
dividend of $0.48 per share, payable on November 28, 2000, to shareholders of
record on November 13, 2000.
Financial Outlook
The following statements are based on current expectations. These statements are
forward-looking and actual results may vary.
The Company expressed comfort with the First Call range of $2.63 to $2.66 for
the year 2000 and with a range of $2.82 to $2.85 for 2001. The Company may
publish additional forward-looking statements during the fourth quarter that may
help investors further estimate earnings for 2001.
Regency Realty Corporation
Regency Realty is the leading national owner, operator, and developer focused on
grocery-anchored, neighborhood retail centers. Regency's total assets before
depreciation exceed $3 billion. As of September 30, 2000, the Company owned 235
retail properties totaling more than 27.1 million square feet located in high
growth markets throughout the United States. Operating as a fully integrated
real estate Company, Regency Realty Corporation is a qualified real estate
investment trust that is self-administered and self managed.
Additional Information
A copy of the Company's Supplemental Information Report is available to all
interested parties upon written request to Lesley Stocker, Investor Relations,
Regency Realty Corporation, 121 West Forsyth Street, Suite 200, Jacksonville,
Florida, 32202 or on the Company's web site at www.RegencyRealty.com.
# # #
In addition to historical information, this press release contains
forward-looking statements under the federal securities law. These statements
are based on current expectations, estimates and projections about the industry
and markets in which Regency operates, management's beliefs and assumptions.
Forward-looking statements are not guarantees of future performance and involve
certain credit risks and uncertainties, which are difficult to predict. Actual
operating results may be affected by changes in national and local economic
conditions, competitive market conditions, weather, obtaining governmental
approvals and meeting development schedules, and therefore, may differ
materially from what is expressed or forecasted in this press release.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
REGENCY REALTY CORPORATION
(registrant)
November 3, 2000 By:/s/J. Christian Leavitt
--------------------------
J. Christian Leavitt
Senior Vice President, Finance
