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FORM 8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

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, 2010

REGENCY CENTERS CORPORATION

(Exact name of registrant as specified in its charter)


Florida	001-12298	59-3191743
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)


One Independent Drive, Suite 114 Jacksonville, Florida		32202
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number including area code: (904)-598-7000

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230 .425)

¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02

Disclosure of Results of Operations and Financial Condition

On November 3, 2010 Regency issued an earnings release for the nine months ended September 30, 2010, which is attached as Exhibit 99.1.

On November 3, 2010 Regency posted on its website at www.regencycenters.com the supplemental information for the nine months ended September 30, 2010 which is attached as Exhibit 99.2.

On November 3, 2010 Regency posted on its website at www.regencycenters.com the capital availability as of November 2, 2010 which is attached as Exhibit 99.3.

Item 9.01

Financial Statements and Exhibits

(d) Exhibits


Exhibit 99.1		Earnings release issued by Regency on November 3, 2010, for the nine months ended September 30, 2010.

Exhibit 99.2		Supplemental information posted on its website on November 3, 2010, for the nine months ended September 30, 2010.

Exhibit 99.3		Capital availability posted on its website on November 3, 2010, as of November 2, 2010.

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


	REGENCY CENTERS CORPORATION
	(registrant)

Date: November 3, 2010	By:	*/s/ J. Christian Leavitt*
		J. Christian Leavitt, Senior Vice President,
		Finance and Principal Accounting Officer

EARNINGS RELEASE

EXHIBIT 99.1

Regency Centers Corporation

Press Release

www.RegencyCenters.com

CONTACT: LISA PALMER

(904) 598-7636

REGENCY CENTERS REPORTS THIRD QUARTER RESULTS

Jacksonville, Fla. (November 3, 2010) — Regency Centers Corporation announced today financial and operating results for the quarter ended September 30, 2010.

Earnings and Operations

Regency reported Recurring Funds From Operations (FFO) for the third quarter of $50.4 million, or $0.60 per diluted share, compared to $55.9 million and $0.69 per diluted share for the same period in 2009. For the nine months ended September 30, 2010, Recurring FFO was $151.9 million and $1.82 per diluted share, compared to $157.0 million and $2.06 per diluted share for the same period last year.

Regency reported FFO for the third quarter of $50.9 million, or $0.61 per diluted share. For the same period in 2009, the Company reported negative FFO of ($46.4) million and ($0.58) per diluted share. For the nine months ended September 30, 2010, FFO was $148.0 million and $1.78 per diluted share, compared to $27.8 million and $0.36 per diluted share for the same period last year.

Regency reports FFO in accordance with the standards established by the National Association of Real Estate Investment Trusts (NAREIT) as a supplemental performance measure. The Company considers this a meaningful performance measurement in the Real Estate Investment Trust industry. Regency also reports Recurring FFO as FFO excluding the impact of gains from the sale of development and outparcels, net of related taxes and dead deal costs, provisions for impairment, gains and losses from the early extinguishment of debt and preferred stock, restructuring charges, transaction fees and promotes and other one-time items.

Net income attributable to common stockholders for the quarter was $9.9 million, or $0.12 per diluted share, compared to a net loss attributable to common stockholders of ($84.1) million and ($1.05) per diluted share loss for the same period in 2009. Net income for the nine months ended September 30, 2010, was $29.0 million and $0.35 per diluted share, compared to a net loss of ($81.7) million and ($1.09) per diluted share for the same period last year.

For the three months ended September 30, 2010, Regency’s results for wholly owned properties plus its pro-rata share of co-investment partnerships were as follows:

•

Increase in same property net operating income over the same period last year: 1.0%

•

Same space rental rate decline on a cash basis: 4.5%

•

Leasing transactions: 460 new and renewal lease transactions for a total of 1.6 million square feet

For the nine months ended September 30, 2010, Regency’s results for wholly owned properties plus its pro-rata share of co-investment partnerships were as follows:

•

Percent leased, same properties only: 92.9%

•

Percent leased, operating and development properties: 91.9%

•

Increase in same property net operating income over the same period last year: 1.4%

•

Same space rental rate decline on a cash basis: 1.3%

•

Leasing transactions: 1,238 new and renewal lease transactions for a total of 4.3 million square feet

Investments

Dispositions and Acquisitions

During the quarter Regency purchased one wholly owned operating property at a gross sales price of $18.0 million and a cap rate of 6.7%. The property is a 62,176 square foot Trader Joe’s-anchored shopping center located in the North Shore sub-market of Chicago, an affluent and mature community approximately 20 miles northwest of downtown Chicago. The shopping center is currently 98.0% leased and boasts outstanding demographics, exhibited by average household income of $133,000 within a three-mile radius of the property, which exceeds the average household income in the Chicago core based statistical area (CBSA) by more than 60%. Regency and a co-investment partnership also sold two out parcels at a gross sales price of $1.0 million.

Development

There were no new development starts during the quarter. Four projects were completed during the quarter, representing $33.7 million of net development costs. At September 30, 2010, the Company had 32 projects under development with estimated net costs at completion of $575.5 million. The in-process developments are 93.6% funded and 81.3% leased.

Capital Markets

Subsequent to quarter end, Regency completed the sale of $250.0 million of 4.8% ten-year senior unsecured notes (4.8% Notes). The Notes are due April 15, 2021 and were priced at 99.860%. Concurrent with this sale, the Company initiated a cash tender offer of its 6.75% Notes due 2012 (6.75% Notes) and 7.95% Notes due 2011 (7.95% Notes), purchasing an aggregate of $57.6 million principal amount of the 6.75% Notes and $11.8 million principal amount of the 7.95% Notes. Regency recognized a $4.2 million loss on the early extinguishment of debt upon settlement of the tender offer. The net proceeds from the 4.8% Notes were used for the purchase of the 6.75% Notes and 7.95% Notes, to settle remaining forward-starting swaps and for general corporate purposes, including the repayment of our line of credit.

Partnership Financings

Subsequent to quarter end, Regency and GRI locked the interest rate on $340.0 million of mortgage loan financings secured by 19 assets in its GRI partnership to refinance a portion of the partnership’s $430.0 million of secured debt maturing in July 2011. The refinance includes a weighted average interest rate of 4.9% over a weighted average 11-year term and is interest-only for the first year. This loan is approximately 65% of combined property values.

Dividend

On October 27, 2010, the Board of Directors declared a quarterly cash dividend of $0.4625 per share, payable on December 1, 2010 to shareholders of record on November 17, 2010. The Board also declared a quarterly cash dividend of $0.46563 per share of Series 3 Preferred stock, payable on December 31, 2010 to shareholders of record on December 1, 2010; a quarterly cash dividend of $0.45313 per share of Series 4 Preferred stock, payable on December 31, 2010 to shareholders of record on December 1, 2010; and a quarterly cash dividend of $0.41875 on the Series 5 Preferred stock, payable on December 31, 2010 to shareholders of record on December 1, 2010.

2010 Guidance Update

The Company has revised its 2010 FFO per share, Recurring FFO per share and same property net operating income growth guidance as a result of continued improvement in fundamentals. These changes are summarized below:


	2010 Earnings Guidance
	Revised Guidance	Previous Guidance
FFO/share	$2.25 - $2.30	$2.24 - $2.34
Recurring FFO/share	$2.35 - $2.40	$2.30 - $2.40
Same property net operating income growth^(a)	0.5% - 1.5%	(0.5)% - 1.8%

(a)	wholly owned and Regency’s pro rata share of co-investment partnerships

Conference Call

In conjunction with Regency’s third quarter results, you are invited to listen to its conference call that will be broadcast live over the internet on Thursday, November 4 at 10:00 a.m. EDT on the Company’s web site www.RegencyCenters.com. If you are unable to participate during the live webcast, the call will also be archived on the web site.

The Company has published additional forward-looking statements in its third quarter 2010 supplemental information package that may help investors estimate earnings for 2010. A copy of the Company’s third quarter 2010 supplemental information will be available on the Company’s web site at www.RegencyCenters.com or by written request to Diane Ortolano, Investor Relations, Regency Centers Corporation, One Independent Drive, Suite 114, Jacksonville, Florida, 32202. The supplemental information package contains more detailed financial and property results including financial statements, an outstanding debt summary, acquisition and development activity, investments in partnerships, information pertaining to securities issued other than common stock, property details, a significant tenant rent report and a lease expiration table in addition to earnings and valuation guidance assumptions. The information provided in the supplemental package is unaudited and there can be no assurance that the information will not vary from the information provided for the quarter ended September 30, 2010. Regency may, but assumes no obligation to, update information in the supplemental package from time to time.

Reconciliation of Net Income (Loss) Attributable to Common Stockholders to Funds From Operations and Recurring Funds From Operations—Actual


	Three Months Ended						Year to Date
For the Periods Ended September 30, 2010 and 2009	2010			2009			2010			2009
Net income (loss) attributable to common stockholders	$	9,884,730		$	(84,092,421	)	$	29,005,850		$	(81,709,433	)
Adjustments to reconcile to Funds from Operations:
Depreciation expense - consolidated properties		25,733,946			24,771,560			78,930,967			71,738,077
Depreciation and amortization expense - uncons properties		12,109,930			9,591,931			37,396,274			28,310,765
Consolidated JV partners’ share of depreciation		(134,258	)		(130,873	)		(405,541	)		(404,204	)
Amortization of leasing commissions and intangibles		3,710,559			3,956,551			11,220,568			11,354,683
Loss (gain) on sale of operating properties, including JV’s		(476,593	)		385			(8,285,740	)		(1,093,276	)
Income deferrals under the Restricted Gain Method for GAAP		—			—			—			—
Non-controlling interest of exchangeable partnership units		34,126			(461,566	)		154,892			(390,075	)

Funds From Operations		50,862,440			(46,364,433	)		148,017,270			27,806,537
Dilutive effect of share-based awards		(157,973	)		(164,120	)		(473,919	)		(492,359	)

Funds From Operations for calculating Diluted FFO per Share	$	50,704,467		$	(46,528,553	)	$	147,543,351		$	27,314,178

Funds From Operations	$	50,862,440		$	(46,364,433	)	$	148,017,270		$	27,806,537
Adjustments to reconcile to Recurring Funds from Operations:
Development and outparcel gains, net of dead deal costs and tax		1,109,306			2,950,006			1,504,367			(979,317	)
Provisions for impairment		800,000			103,189,497			6,353,168			131,878,424
Provisions for hedge ineffectiveness		(2,341,106	)		—			(1,418,709	)		—
Loss on early debt extinguishment		—			2,708,917			—			2,708,917
Restructuring charges		—			1,158,337			—			3,396,822
Transaction fees and promotes		—			(7,781,484	)		(2,593,828	)		(7,781,484	)

Recurring Funds From Operations		50,430,640			55,860,840			151,862,268			157,029,899
Dilutive effect of share-based awards		(157,973	)		(164,120	)		(473,919	)		(492,359	)

Recurring Funds From Operations for calculating Diluted Recurring FFO per Share	$	50,272,667		$	55,696,720		$	151,388,349		$	156,537,540

Weighted Average Shares For Diluted FFO per Share		83,118,609			80,395,734			83,002,006			76,069,913

Reported results are preliminary and not final until the filing of our Form 10-Q with the SEC and, therefore, remain subject to adjustment.

Regency Centers Corporation (NYSE: REG)

Regency is the leading national owner, operator, and developer of grocery-anchored and community shopping centers. At September 30, 2010, the Company owned 399 retail properties, including those held in co-investment partnerships. Including tenant-owned square footage, the portfolio encompassed 53.1 million square feet located in top markets throughout the United States. Since 2000 Regency has developed 201 shopping centers, including those currently in-process, representing an investment at completion of $3.0 billion. Operating as a fully integrated real estate company, Regency is a qualified real estate investment trust that is self-administered and self-managed.

###

Forward-looking statements involve risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements. Please refer to the documents filed by Regency Centers Corporation with the SEC, specifically the most recent reports on Forms 10-K and 10-Q, which identify important risk factors which could cause actual results to differ from those contained in the forward-looking statements.

SUPPLEMENTAL INFORMATION

EXHIBIT 99.2

Regency Centers Corporation

September 30, 2010

Supplemental Information

Investor Relations

Diane Ortolano

One Independent Drive, Suite 114

Jacksonville, FL 32202

904-598-7727

About Regency

Regency Centers Corporation is the leading national owner, operator, and developer of grocery-anchored and community shopping centers. At September 30, 2010, Regency’s total market capitalization was $5.6 billion.

As of September 30, 2010, the Company owned 399 shopping centers and single tenant properties, including those held in co-investment partnerships. Total gross leasable area (GLA) under management, including tenant-owned square footage was 53.1 million square feet, located in top markets across the nation. Founded in 1963 and operating as a fully integrated real estate company, Regency is a qualified real estate investment trust that is self-administered and self-managed.

Regency’s portfolio is distinguished by attractive demographics and strong retailers. The average household income in the trade area of Regency’s centers is $94,000, 30% higher than the national average. Regency’s quality portfolio is anchored by dominant grocers such as Kroger and Publix, as well as leading national retailers such as Target, which drive traffic into its centers. In addition, 79% of the portfolio is leased to national and regional retailers. The quality of the tenant base and the strength of the Company’s tenant relationships are fundamentally differentiating factors for Regency. Premier Customer Initiative (PCI) is Regency’s relationship-based operating system that focuses on the national, regional, and local retailers that are the best operators in their merchandising category.

Regency’s operating and development expertise continues to create value from the operating portfolio and from new development opportunities. Since 2000 Regency has developed 201 shopping centers, including those currently in-process, representing an investment at completion of $3.0 billion. At the end of the third quarter of 2010, Regency had 32 projects under development for an estimated total investment at completion of $575.5 million. These in-process developments are 94% funded and 81% leased (91% leased and committed, including tenant-owned square footage).

Regency employs a capital recycling strategy to continue to improve the overall quality of the portfolio. The disposition of assets and an industry-leading co-investment partnership program are integral components of this strategy. The co-investment partnerships provide an embedded market for developments and acquisitions, enabling Regency to generate a growing stream of third-party revenue while profitably growing the portfolio. In the past eight years, capital recycling and co-investment partnerships have enabled Regency to cost effectively fund more than $9.4 billion in investments.

Regency has centers located in the top markets in the country and has 17 offices nationwide. The Company is listed on the New York Stock Exchange, traded under the symbol REG, and is included in the S&P MidCap 400 Index. There are also three series of preferred shares that trade under REG PRC, REG PRD and REG PRE.

Please visit www.RegencyCenters.com for more information.

The information provided in this supplemental package is unaudited and there can be no assurance that the information will not vary from the final information for the quarter ended September 30, 2010. Regency may, but assumes no obligation to, update information in the supplemental package from time to time.

Table of Contents

September 30, 2010


Highlights			1

Summary Information:

Definitions			2

Summary Financial Information			3

Summary Real Estate Information			4

Financial Information:

Consolidated Balance Sheets			5

Consolidated Statements of Operations (FFO format)			6

FFO and Other Information			7

Consolidated Statements of Operations (GAAP basis)			9

Summary of Consolidated Debt			10

Summary of Unsecured Public Debt Covenants			12

Summary of Preferred Units and Stock			13

Investment Activity:

Acquisitions, Dispositions and Development Sales			14

Development Information			17

Co-investment Partnerships:

Unconsolidated Investments			19

Unconsolidated Balance Sheets			20

Unconsolidated Statements of Operations			22

Summary of Unconsolidated Debt			24

Real Estate Information:

Leasing Statistics			25

Average Base Rent by State			27

Portfolio Summary Report by Region			29

Significant Tenant Rents			36

Lease Expiration Schedule			38

Forward-Looking Information:

Earnings and Valuation Guidance			40

Reconciliation of FFO to Net Income			41

Highlights

September 30, 2010

Operating Results

(Wholly owned and Regency’s pro-rata share of co-investment partnerships)

For the quarter ended September 30, 2010, same property NOI increased 1.0%. Same property percent leased was 92.9%. Rental lease spreads declined 4.5%.

For the nine months ended September 30, 2010, same property NOI increased 1.4%. Same property percent leased was 92.9%. Rental lease spreads declined 1.3%.

Operating Results

(Wholly owned and 100% of co-investment partnerships)

For the quarter ended September 30, 2010, same property NOI increased 1.9%. Same property percent leased was 93.2%. Rental lease spreads declined 4.5%.

For the nine months ended September 30, 2010, same property NOI increased 1.1%. Same property percent leased was 93.2%. Rental lease spreads declined 2.3%.

Leasing Activity

During the quarter, 1.6 million square feet of GLA was renewed or newly leased through 460 leasing transactions.

For the nine months ended September 30, 2010, 4.3 million square feet of GLA was renewed or newly leased through 1,238 leasing transactions.

Financial Results

Recurring Funds From Operations for the quarter was $50.4 million, or $0.60 per diluted share. Funds From Operations for the quarter was $50.9 million, or $0.61 per diluted share. Net income attributable to common stockholders for the quarter was $9.9 million, or $0.12 per diluted share.

Development Activity

At quarter end, Regency had 32 projects in process for an estimated net development cost of $575.5 million, an expected return at completion of 5.5% and an expected return at stabilization of 6.8%.

For more information on this development activity, please see page 17.

Acquisition & Disposition Activity

During the third quarter, Regency:

•

Purchased one wholly owned operating property at a gross sales price of $18.0 million and a cap rate of 6.7%.

For more information on these acquisitions & dispositions, please see pages 14-16.

Definitions

September 30, 2010

Development Properties: Properties that Regency acquires and develops, including partially operating properties specifically acquired for redevelopment, and if sold any related gains are included in its calculation of FFO. Once development properties become operating properties, related gains are no longer included in FFO unless it is owned by Regency’s taxable REIT subsidiary (TRS) and developed for the purpose of resale. A property is no longer considered a development property after the end of the third calendar year following stabilization of rent paying occupancy.

Funds From Operations (FFO): FFO is a supplemental earnings measure defined by the National Association of Real Estate Investment Trusts (NAREIT) as net income attributable to common stockholders (computed in accordance with generally accepted accounting principles), excluding gains (or losses) from sales of depreciated property, plus depreciation and amortization, and after adjustments for unconsolidated partnerships and joint ventures. Adjustments for unconsolidated partnerships and joint ventures are calculated to reflect funds from operations on the same basis. NAREIT developed FFO as a supplement to net income and as a measure of recurring operating performance for real estate companies (April 2002). NAREIT also clarified that FFO should include the results of discontinued operations, non-recurring amounts (loss impairments, for example) except for those classified as extraordinary under GAAP, and could include certain gains and losses from the sale of undepreciated property with adequate disclosure. Regency includes gains from the sale of land or land it develops (Development Properties) in its calculation of FFO because it considers those items to be significant recurring operating amounts included in its financial results. To the extent that development sales to co-investment partnerships are impacted by the Restricted Gain Method, Regency adds back the additional gain deferral except for that amount of the ownership it has retained in the development sold.

Recurring Funds From Operations (Recurring FFO): Recurring FFO is defined as funds from operations excluding the impact of gains from the sale of development and outparcels, net of related taxes and dead deal costs, provisions for impairment, gains and losses from the early extinguishment of debt and preferred stock, restructuring charges, non-recurring transaction fees and promotes, and other one-time items.

Summary Financial Information

September 30, 2010


	Three Months Ended						Year to Date
Financial Results	2010			2009			2010			2009

Net income (loss) attributable to common stockholders	$	9,884,730		($	84,092,421	)	$	29,005,850		($	81,709,433	)
Basic EPS	$	0.12		($	1.05	)	$	0.35		($	1.09	)
Diluted EPS	$	0.12		($	1.05	)	$	0.35		($	1.09	)
Diluted EPS per share growth rate		NA						NA

Funds from Operations for common stockholders	$	50,862,439		($	46,364,433	)	$	148,017,270		$	27,806,537
FFO per share - Basic	$	0.62		($	0.58	)	$	1.81		$	0.37
FFO per share - Diluted	$	0.61		($	0.58	)	$	1.78		$	0.36
Diluted FFO per share growth rate		NA						394.4	%

Recurring Funds from Operations for common stockholders	$	50,430,639		$	55,860,840		$	151,862,268		$	157,029,899
Recurring FFO per share - Diluted	$	0.60		$	0.69		$	1.82		$	2.06
Diluted Recurring FFO per share growth rate		-12.7	%					-11.4	%

Dividends paid per share and unit	$	0.463		$	0.463		$	1.388		$	1.650
Payout ratio of Diluted FFO per share		75.8	%		NA			77.9	%		458.3	%

Interest Coverage Ratios
Interest only		2.7			2.9			2.8			2.8
Capitalized interest	$	1,001,130		$	4,387,556		$	4,324,542		$	16,305,533
Fixed Charge (Regency only)		2.2			2.4			2.3			2.3
Fixed Charge (with pro-rata share of partnerships)		2.0			2.2			2.0			2.1

Capital Information	09/30/10			YTD Change			12/31/09			12/31/08

Closing common stock price per share	$	39.47		$	4.41		$	35.06		$	46.70
Shareholder Return (assumes no reinvestment of dividends)		16.5	%

Common Shares and Equivalents Outstanding		82,056,297			48,790			82,007,507			70,504,881

Market equity value of Common and Convertible shares	$	3,238,762		$	363,579		$	2,875,183		$	3,292,578
Non-Convertible Preferred Units and shares		325,000			—			325,000			325,000
Outstanding debt (000’s)	$	2,002,919		$	116,539		$	1,886,380		$	2,135,571
Total market capitalization (000’s)	$	5,566,681		$	480,117		$	5,086,563		$	5,753,149
Debt to Total Market Capitalization		36.0	%		-1.1	%		37.1	%		37.1	%

Total real estate at cost before depreciation (000’s)	$	4,430,406		$	170,451		$	4,259,955		$	4,425,896
Total assets at cost before depreciation (000’s)	$	4,689,104		$	93,135		$	4,595,970		$	4,696,971
Debt to Total Assets before Depreciation		42.7	%		1.7	%		41.0	%		45.5	%

Outstanding Classes of Stock and Partnership Units:
Common Shares Outstanding		81,867,133			327,837			81,539,296			70,036,670
Exchangeable O.P. Units held by noncontrolling interests		189,164			(279,047	)		468,211			468,211

Common Shares and Equivalents Issued and Outstanding		82,056,297			48,790			82,007,507			70,504,881

Wtd Average Diluted Shares for FFO per share		83,118,609			80,395,734			83,002,006			76,069,913
Treasury method shares related to fwd equity offering included above		1,409,596			—			1,339,602			—

Summary Real Estate Information

September 30, 2010

Wholly Owned and Regency’s Pro-Rata Share of Co-investment Partnerships


	9/30/10			6/30/10			9/30/09			6/30/09
Gross Leasable Area (GLA)		29,662,913			29,618,371			28,996,138			29,444,233
GLA including anchor-owned stores		35,787,785			35,743,243			35,093,573			35,718,793
% leased - Operating and development properties		91.9	%		91.7	%		91.2	%		90.7	%
% leased - Operating properties only		92.8	%		92.8	%		93.2	%		93.0	%
% leased - Same properties only		92.9	%		92.8	%		93.3	%		93.2	%
Average % leased - Same properties only		92.8	%		92.8	%		93.4	%		93.4	%
Rental rate growth - YTD⁽¹⁾		-1.3	%		0.5	%		-3.6	%		-1.6	%
Same property NOI growth - YTD		1.4	%		1.5	%		-6.4	%		-6.3	%
Same property NOI growth without termination fees - YTD		-0.1	%		-1.0	%		-6.7	%		-6.4	%
Same property NOI growth without termination fees or provision for doubtful accounts - YTD		-1.5	%		-2.5	%		-3.5	%		-4.7	%

Wholly Owned and 100% of Co-investment Partnerships

	9/30/10			6/30/10			9/30/09			6/30/09
Gross Leasable Area (GLA)		45,053,264			45,065,551			45,883,496			46,267,519
GLA including anchor-owned stores		53,123,081			53,135,368			54,121,854			54,682,877
GLA under development		2,400,370			2,586,933			3,782,156			3,926,433
Number of retail shopping centers		399			398			409			409
Number of centers under development (excluding expansions)		30			34			40			41
Number of grocery-anchored shopping centers		324			325			330			330
% leased - Operating and development properties		92.5	%		92.3	%		92.0	%		91.8	%
% leased - Operating properties only		93.2	%		93.0	%		93.3	%		93.3	%
% leased - Same properties only		93.2	%		93.0	%		93.4	%		93.4	%
Average % leased - Same properties only		93.0	%		93.0	%		93.6	%		93.7	%
Rental rate growth - YTD ⁽¹⁾		-2.3	%		-1.1	%		-2.5	%		-0.6	%
Same property NOI growth - YTD		1.1	%		0.7	%		-6.6	%		-6.0	%
Same property NOI growth without termination fees - YTD		0.1	%		-1.1	%		-6.7	%		-6.2	%
Same property NOI growth without termination fees or provision for doubtful accounts - YTD		-1.0	%		-2.0	%		-4.0	%		-4.2	%

(1)	Rent growth is calculated on a same-space, cash basis pertaining to new and renewal leases executed.

Consolidated Balance Sheets

September 30, 2010 and December 31, 2009 and 2008


	2010			2009			2008
Assets
Real estate investments at cost:
Land, building and improvements	$	3,271,717,008			2,993,704,413			2,897,155,188
Properties in development		687,427,944			920,426,744			1,078,885,554

		3,959,144,952			3,914,131,157			3,976,040,742
Less: accumulated depreciation		695,431,568			622,163,237			554,595,228

		3,263,713,384			3,291,967,920			3,421,445,514
Operating properties held for sale		8,482,618			19,611,481			66,446,995
Investments in real estate partnerships		462,778,071			326,211,897			383,407,938

Net real estate investments		3,734,974,073			3,637,791,298			3,871,300,447

Cash and cash equivalents		38,837,536			99,477,017			21,533,019
Accounts receivable, net of allowance for uncollectible accounts		37,011,877			40,871,064			66,201,397
Straight line rent receivables, net of reserves		43,619,425			39,292,481			37,595,112
Notes receivable		36,814,125			37,753,438			31,438,066
Deferred costs, net of accumulated amortization		58,242,791			58,376,461			57,476,785
Acquired lease intangible assets, net of accumulated amortization		9,721,761			10,007,309			12,902,821
Other assets		34,452,230			50,237,446			43,927,668


Total assets	$	3,993,673,818			3,973,806,514			4,142,375,315


Liabilities and Equity
Liabilities:
Notes payable	$	1,892,918,876			1,886,380,298			1,837,904,495
Unsecured credit facilities		110,000,000			—			297,666,667

Total notes payable		2,002,918,876			1,886,380,298			2,135,571,162

Accounts payable and other liabilities		144,481,852			99,144,898			141,395,128
Derivative instruments, at fair value		—			28,363,231			83,690,668
Acquired lease intangible liabilities, net of accumulated accretion		5,403,037			5,895,885			7,864,832
Tenants’ security and escrow deposits		10,604,225			10,627,805			11,571,209

Total liabilities		2,163,407,990			2,030,412,117			2,380,092,999


Equity:
Stockholder’s Equity:
Preferred stock		275,000,000			275,000,000			275,000,000
Common stock, $.01 par		818,671			815,393			756,349
Additional paid in capital, net of treasury stock		2,035,372,320			2,022,670,478			1,666,849,877
Accumulated other comprehensive loss		(83,243,454	)		(49,973,134	)		(90,688,873	)
Distributions in excess of net income		(457,372,648	)		(373,345,394	)		(155,056,788	)

Total stockholders’ equity		1,770,574,889			1,875,167,343			1,696,860,565

Noncontrolling Interests:
Preferred units		49,157,977			49,157,977			49,157,977
Exchangeable operating partnership units		(284,928	)		7,320,848			8,283,914
Limited partners’ interest in consolidated partnerships		10,817,890			11,748,229			7,979,860

Total noncontrolling interests		59,690,939			68,227,054			65,421,751

Total equity		1,830,265,828			1,943,394,397			1,762,282,316


Total liabilities and equity	$	3,993,673,818			3,973,806,514			4,142,375,315


Ratios	2010			2009			2008
Debt to real estate assets, before depreciation		45.2	%		44.3	%		48.3	%
Debt to total assets, before depreciation		42.7	%		41.0	%		45.5	%
Debt to total assets, before depreciation and including prorata share of JV’s (note a)		46.6	%		45.9	%		50.0	%
Debt + preferred to total assets, before deprec. and incl. prorata share of JV’s		52.3	%		51.9	%		55.8	%
Unsecured assets to total real estate assets (wholly owned only)		82.9	%		81.6	%		87.5	%
Unsecured NOI to total NOI (wholly owned only)		81.6	%		79.5	%		86.8	%

(a)	debt ratio would be 46.3% if current cash balances were used to reduce outstanding debt

Consolidated Statements of Operations

For the Periods Ended September 30, 2010 and 2009

(Asset sales not separated as discontinued operations as required by GAAP - See Form 10Q and Form 10K)


	Three Months Ended						Year to Date
	2010			2009			2010			2009
Real Estate Revenues:
Minimum rent	$	87,264,665			89,498,205		$	259,997,067			264,816,211
Percentage rent		399,321			234,965			1,022,925			1,242,443
Recoveries from tenants		22,788,165			23,267,699			70,721,856			68,250,338
Termination Fees		792,762			1,643,285			5,928,637			2,673,454
Other income		4,216,232			4,820,227			7,297,159			7,648,029

		115,461,145			119,464,381			344,967,644			344,630,475


Real Estate Operating Expenses:
Operating and maintenance		17,410,380			16,646,878			52,473,961			48,542,763
Provision for doubtful accounts		149,254			2,420,728			2,510,177			7,689,776
Real estate taxes		14,048,127			14,551,734			43,102,168			43,493,400

		31,607,761			33,619,340			98,086,306			99,725,939


Net Operating Income		83,853,384			85,845,041			246,881,338			244,904,536


Fees, Development and Outparcel Gains:
Asset management fees		1,786,687			3,077,893			4,966,526			7,720,373
Property management fees		3,924,334			3,584,731			11,768,204			11,199,766
Transaction fees		—			7,781,484			2,593,828			7,781,484
Leasing commissions and other fees		813,607			1,162,075			3,645,439			3,559,398
Development gains		7,308			—			38,456			3,986,520
Gain (loss) on sale of outparcels		1,891			(85,455	)		443,746			(85,455	)
Dead deal and Acquisition costs		(266,903	)		(3,503,919	)		(1,033,812	)		(3,802,059	)
Provision for income tax (expense)		(851,602	)		508,866			(952,757	)		749,809

		5,415,322			12,525,675			21,469,630			31,109,836


Other Operating Expense (Income):
General and administrative		14,369,556			12,150,947			42,743,167			37,327,543
Other expenses		1,269,590			276,666			2,109,851			1,386,129
Depreciation and amortization (including FF&E)		30,475,857			29,808,360			93,308,047			87,767,343
Interest expense, net		32,208,578			30,629,317			91,971,876			82,787,188
(Gain) loss on sale of operating properties including taxes		(477,075	)		(194	)		(7,353,568	)		132,463
Deferred gains under the Restricted Gain Method		—			—			—			—
Provision for impairment - wholly owned properties		—			102,032,772			—			104,401,989
Hedge ineffectiveness ^(a)		(2,341,106	)		—			(1,418,709	)		—

		75,505,400			174,897,868			221,360,664			313,802,655


Equity in Income (Loss) of Unconsolidated Partnerships:
Operating income (loss)		2,902,096			(926,914	)		5,412,976			(1,567,133	)
Gain (loss) on sale of operating properties		(481	)		(579	)		932,172			1,225,738
Provision for impairment - JV properties		(800,000	)		(1,156,725	)		(6,353,168	)		(26,054,103	)

		2,101,615			(2,084,218	)		(8,020	)		(26,395,498	)


Net Income (Loss)		15,864,920			(78,611,370	)		46,982,283			(64,183,781	)

Noncontrolling Interests:
Preferred units		931,248			931,248			2,793,744			2,793,744
Exchangeable operating partnership units		34,126			(461,566	)		154,892			(390,075	)
Limited partners’ interest in consolidated partnerships		96,025			92,578			271,424			365,610

Net Income Attributable to Noncontrolling Interests		1,061,399			562,260			3,220,060			2,769,279


Net Income (Loss) Attributable to Controlling Interests		14,803,521			(79,173,630	)		43,762,223			(66,953,060	)

Preferred Stock Dividends		4,918,791			4,918,791			14,756,373			14,756,373


Net Income (Loss) Attributable to Common Stockholders	$	9,884,730			(84,092,421	)	$	29,005,850			(81,709,433	)

These Consolidated Statements of Operations are not accordance with GAAP because they do not reflect discontinued operations in accordance with FASB ASC Topic 360. The Company believes that the presentation is useful to readers of this report who wish to understand the Company’s operations without reclassifying sales of real estate into discontinued operations. The presentation of the Consolidated Statements of Operations prepared in accordance with GAAP are presented in the following pages.

(a)

Hedge ineffectiveness has historically been a charge to earnings related to an over-hedged position as a result of changing future debt issuance assumptions. In October 2010, we accelerated previous debt assumptions by issuing $250 MM of unsecured debt and settled our remaining hedge. As a result, previous ineffectiveness charges of $2.3 MM reversed in September 2010 and were recorded as income.

Funds From Operations (FFO) and Other Information

For the Periods Ended September 30, 2010 and 2009


	Three Months Ended						Year to Date
	2010			2009			2010			2009

Reconciliation of Net income (loss) to Funds from Operations

Net income (loss) attributable to common stockholders	$	9,884,730			(84,092,421	)	$	29,005,850			(81,709,433	)
Adjustments to reconcile to Funds from Operations:
Depreciation and amortization - consolidated real estate		25,733,946			24,771,560			78,930,967			71,738,077
Depreciation and amortization - unconsolidated partnerships		12,109,930			9,591,931			37,396,274			28,310,765
Consolidated JV partners’ share of depreciation		(134,258	)		(130,873	)		(405,541	)		(404,204	)
Amortization of leasing commissions and intangibles		3,710,559			3,956,551			11,220,568			11,354,683
Gain (loss) on sale of operating properties, including JV’s		(476,594	)		385			(8,285,740	)		(1,093,276	)
Income deferrals under the Restricted Gain Method for GAAP		—			—			—			—
Noncontrolling interest of exchangeable partnership units		34,126			(461,566	)		154,892			(390,075	)


Funds From Operations (a)	$	50,862,439			(46,364,433	)	$	148,017,270			27,806,537


Reconciliation of FFO to Recurring FFO

Funds from operations	$	50,862,439			(46,364,433	)	$	148,017,270			27,806,537
Adjustments to reconcile to Recurring Funds from Operations:
Development and outparcel gains, net of dead deal costs and tax		1,109,306			2,950,006			1,504,367			(979,317	)
Provision for impairment		800,000			103,189,497			6,353,168			131,878,424
Provision for hedge ineffectiveness		(2,341,106	)		—			(1,418,709	)		—
Loss on early debt extinguishment		—			2,708,917			—			2,708,917
Restructuring charges		—			1,158,337			—			3,396,822
Transaction fees and promotes		—			(7,781,484	)		(2,593,828	)		(7,781,484	)


Recurring Funds From Operations (a)	$	50,430,639			55,860,840		$	151,862,268			157,029,899


FFO Per Share Reconciliation (Diluted):

Net income (loss) attributable to common stockholders	$	0.12		$	(1.05	)	$	0.35		$	(1.09	)
Adjustments to reconcile to Funds from Operations per share:
Depreciation and amortization - consolidated real estate		0.31			0.30			0.94			0.95
Depreciation and amortization - unconsolidated partnerships		0.15			0.12			0.45			0.37
Consolidated JV partners’ share of depreciation		—			—			—			(0.01	)
Amortization of leasing commissions and intangibles		0.04			0.05			0.14			0.15
Gain on sale of operating properties		(0.01	)		—			(0.10	)		(0.01	)
Gain deferrals under the Restricted Gain Method		—			—			—			—

Funds From Operations	$	0.61		$	(0.58	)	$	1.78		$	0.36


Reconciliation of FFO to Recurring FFO

Funds from operations	$	0.61		$	(0.58	)	$	1.78		$	0.36
Adjustments to reconcile to Recurring Funds from Operations:
Development and outparcel gains, net of dead deal costs and tax		0.01			0.04			0.01			(0.01	)
Provision for impairment loss		0.01			1.29			0.08			1.73
Provision for hedge ineffectiveness		(0.03	)		—			(0.02	)		—
Loss on early debt extinguishment		—			0.03			—			0.04
Restructuring charges		—			0.01			—			0.04
Transaction fees and promotes		—			(0.10	)		(0.03	)		(0.10	)


Funds From Operations - Recurring	$	0.60		$	0.69		$	1.82		$	2.06

(a)	See the definition of Funds from Operations and Recurring Funds from Operations included on page 2 of this supplemental report.

Additional Disclosures

For the Periods Ended September 30, 2010 and 2009


	Three Months Ended					Year to Date
	2010			2009		2010			2009

Additional Disclosures:

Straight-line rental income, net of reserve	$	2,179,318			1,565,876	$	4,544,261			2,440,224
Above- and below- market rent amortization		183,730			453,673		960,598			1,393,233
Pro-rata share of JV straight-line rental income, net		545,424			133,207		1,384,495			307,245
Pro-rata share of JV above- and below- mkt rent amortization		635,909			580,747		1,762,369			1,735,013

Debt premium amortization income	$	(13,302	)		31,966	$	5,361			95,898
FFO impairment losses including pro-rata share of JV’s		800,000			103,189,497		6,353,168			131,878,424
Hedge ineffectiveness charged against net income		(2,341,106	)		—		(1,418,709	)		—
Stock based compensation expense		1,779,186			1,836,395		5,311,239			5,227,885
Capitalized direct leasing compensation costs		2,574,999			3,003,171		6,725,001			9,009,513
Capitalized direct development compensation costs		645,774			974,817		1,451,387			6,410,198

Fees earned from 3rd parties as reported for GAAP	$	6,524,628			15,606,183	$	22,973,997			30,261,021
Fees earned from 3rd parties, excluding REG owned portion		5,095,138			14,506,874		18,730,860			26,921,455

Components of same property NOI (wholly owned and Regency’s pro-rata share of co-investment partnerships):
Revenues	$	127,383,529			125,933,213	$	389,521,316			383,570,900
Expenses		35,941,340			35,428,679		112,354,524			110,145,635

Same property NOI	$	91,442,189			90,504,534	$	277,166,792			273,425,265


Capital Expenditures (non-revenue enhancing only):

Leasing commissions - consolidated properties	$	2,861,617			2,355,277	$	8,450,560			6,773,291
Tenant improvements - consolidated properties		1,026,506			682,914		3,548,663			2,998,956
Building improvements - consolidated properties		3,778,025			2,226,481		7,025,258			4,777,295

Pro-rata share of unconsolidated leasing commissions	$	475,457			475,215	$	1,362,500			1,346,757
Pro-rata share of unconsolidated tenant improvements		320,541			168,633		861,375			560,753
Pro-rata share of unconsolidated building improvements		1,046,356			592,936		1,884,638			1,077,121

Consolidated Statements of Operations (GAAP Basis)

For the Periods Ended September 30, 2010 and 2009


	Three Months Ended						Year to Date
	2010			2009			2010			2009
Revenues:
Minimum rent	$	87,031,529			87,774,842		$	259,080,919			259,000,304
Percentage rent		399,321			234,965			1,022,925			1,242,443
Recoveries from tenants and other income		27,453,724			28,705,471			83,661,023			76,227,542
Management, transaction, and other fees		6,524,628			15,606,183			22,973,997			30,261,021

Total revenues		121,409,202			132,321,460			366,738,864			366,731,309


Operating Expenses:
Depreciation and amortization		30,406,897			29,428,387			93,030,254			86,690,136
Operating and maintenance		17,341,905			16,355,365			52,160,456			47,466,283
General and administrative		14,369,556			12,150,947			42,743,167			37,327,543
Real estate taxes		13,979,770			14,259,240			42,850,345			42,353,145
Provision for doubtful accounts		101,693			2,333,194			2,503,480			7,545,107
Other expenses		2,382,172			3,271,719			4,070,660			4,489,254

Total operating expenses		78,581,993			77,798,852			237,358,362			225,871,467


Other Expense (Income):
Interest expense, net of interest income		32,208,578			27,920,400			91,972,081			80,078,271
(Gain) loss on sale of operating properties and properties in development		(479,164	)		85,455			(1,044,159	)		85,455
Provision for impairment		—			95,149,967			—			97,519,184
Loss on early debt extinguishment		—			2,708,917			—			2,708,917
Gain on derivative instruments		(2,341,106	)		—			(1,418,709	)		—

Total other expense		29,388,308			125,864,739			89,509,213			180,391,827


Income (loss) before equity in income (loss) of investments in real estate partnerships		13,438,902			(71,342,131	)		39,871,289			(39,531,984	)
Equity in income (loss) of investments in real estate partnerships		2,101,615			(2,084,218	)		(8,020	)		(26,395,498	)

Income (loss) from continuing operations		15,540,517			(73,426,349	)		39,863,269			(65,927,482	)


Discontinued Operations, net:
Operating income (loss)		321,898			(5,185,215	)		351,910			(2,161,230	)
Gain on sale of properties		2,505			194			6,767,104			3,904,931

Income (loss) from discontinued operations		324,403			(5,185,021	)		7,119,014			1,743,701


Net income (loss)		15,864,920			(78,611,370	)		46,982,283			(64,183,781	)

Noncontrolling Interests:
Preferred units		(931,248	)		(931,248	)		(2,793,744	)		(2,793,744	)
Exchangeable operating partnership units		(34,126	)		461,566			(154,892	)		390,075
Limited partners’ interests in consolidated partnerships		(96,025	)		(92,578	)		(271,424	)		(365,610	)

Net income attributable to noncontrolling interests		(1,061,399	)		(562,260	)		(3,220,060	)		(2,769,279	)


Net income (loss) attributable to controlling interests		14,803,521			(79,173,630	)		43,762,223			(66,953,060	)

Preferred stock dividends		(4,918,791	)		(4,918,791	)		(14,756,373	)		(14,756,373	)

Net income (loss) attributable to common stockholders	$	9,884,730			(84,092,421	)	$	29,005,850			(81,709,433	)

These consolidated statements of operations should be read in conjunction with the Company’s most recent Form
10-Q and Form 10-K filed with the Securities and Exchange Commission.

Summary of Consolidated Debt

September 30, 2010 and December 31, 2009


Total Debt Outstanding:	9/30/10		12/31/09
Mortgage loans payable:
Fixed rate secured loans	$	382,031,561		398,820,411
Variable rate secured loans		10,121,431		5,595,579
Unsecured debt offering fixed rate		1,500,765,884		1,481,964,308
Unsecured credit facilities		110,000,000		—

Total	$	2,002,918,876		1,886,380,298


Schedule of Maturities by Year:	Scheduled Principal Payments		Mortgage Loan Maturities			Unsecured Maturities ^(a)			Total
2010	$	1,355,183		7,384,892			10,000,000			18,740,075
2011		4,990,330		17,146,867			303,486,000			325,623,197
2012		5,266,861		—			250,000,000			255,266,861
2013		5,150,928		16,349,481			—			21,500,409
2014		4,380,050		22,848,054			150,000,000			177,228,104
2015		3,136,459		46,250,774			350,000,000			399,387,233
2016		2,624,443		14,161,145			—			16,785,588
2017		1,883,139		75,510,751			400,000,000			477,393,890
2018		1,208,718		57,357,573			—			58,566,291
2019		—		106,000,000			—			106,000,000
>10 years		—		—			150,000,000			150,000,000
Net unamortized debt discount				(852,656	)		(2,720,116	)		(3,572,772	)

	$	29,996,111		362,156,881			1,610,765,884			2,002,918,876


^(a)Includes unsecured public debt and unsecured credit facilities. The unsecured line of credit is included in 2011 maturities and matures in February 2011 with a one-year extension available at the Company’s option.

Percentage of Total Debt:						9/30/10			12/31/09
Fixed							94.0	%		99.7	%
Variable							6.0	%		0.3	%

Current Average Interest Rates:^(b)
Fixed							6.2	%		6.4	%
Variable							1.2	%		5.3	%
Effective Interest Rate							5.9	%		6.4	%

^(b)Interest rates are as of the quarter end and exclude the impact of deferred loan cost amortization.

Average Maturity Date:
Fixed							August 24, 2015			November 11, 2014
Variable							April 8, 2011			March 15, 2014

Summary of Consolidated Debt

September 30, 2010 and December 31, 2009


Lender:	Secured Property	Rate		Maturity		9/30/10			12/31/09
Fixed Rate Loans:
Northwestern Mutual Life Insurance Co.	Panther Creek		7.830%		4/1/10	$	—			9,698,306
Principal Global Investors	Anastasia Plaza		4.440%		5/1/10		—			4,480,000
Principal Global Investors	Shoppes @ 104		4.440%		5/1/10		—			7,000,000
Debt Offering	Unsecured		8.450%		9/1/10		—			130,445,364
Principal Mutual Life Insurance Co.	Russell Ridge		7.970%		12/15/10		5,105,969			5,231,192
Debt Offering	Unsecured		8.000%		12/15/10		10,000,000			10,000,000
Principal Mutual Life Insurance Co.	Powers Ferry Village		7.970%		12/15/10		2,320,894			2,377,814
Debt Offering	Unsecured		7.950%		1/15/11		173,479,854			173,461,417
Wells Fargo	Market at Opitz Crossing		7.300%		3/1/11		11,363,369			11,517,074
Debt Offering	Unsecured		7.250%		12/12/11		19,984,391			19,975,017
Debt Offering	Unsecured		6.750%		1/15/12		249,950,942			249,923,348
PNC Bank	Gateway Shopping Center		7.110%		5/1/13		18,687,716			19,296,330
TIAA	Northgate Square		5.640%		1/10/14		6,222,057			6,364,464
Debt Offering	Unsecured		4.950%		4/15/14		149,867,217			149,838,764
Northwestern Mutual Life Insurance Co.	Belleview Square		6.200%		7/1/14		8,102,078			8,373,196
Glenview State Bank	Glen Oak Plaza		5.750%		10/1/14		7,869,387			—
Aid Association of Lutherans	Murryhill Marketplace		5.220%		1/1/15		7,845,749			8,018,769
United of Omaha Life Insurance Co.	Fleming Island		7.400%		2/5/15		1,405,994			1,602,475
Escrow Bank, USA	Twin City Plaza		5.650%		4/6/15		42,643,403			43,085,017
Debt Offering	Unsecured		5.250%		8/1/15		349,762,496			349,725,002
Municipal Tax Bonds Payable	Friars Mission Center		7.600%		9/2/15		703,869			703,869
GMAC	Naples Walk		6.150%		8/11/16		16,959,033			17,251,452
Jefferson Pilot	Peartree Village		8.400%		6/1/17		9,619,836			9,926,759
Allianz Life Insurance Company of N. A.	4S Commons Town Center		6.000%		6/10/17		62,500,000			62,500,000
Debt Offering	Unsecured		5.875%		6/15/17		398,737,434			398,595,396
Metropolitan Life Insurance Company	Corkscrew Village		6.170%		8/1/17		8,942,391			9,096,183
TIAA	Westchase		5.520%		7/10/18		8,355,526			8,526,187
Guardian Life Insurance Company	Amerige Heights Town Center		6.130%		12/1/18		17,000,000			17,000,000
Guardian Life Insurance Company	El Cerrito Plaza		6.380%		12/1/18		41,236,946			41,618,622
Allianz Life Insurance Company of N. A.	Tassajara Crossing		7.750%		7/10/19		19,800,000			19,800,000
Allianz Life Insurance Company of N. A.	Plaza Hermosa		7.750%		7/10/19		13,800,000			13,800,000
Allianz Life Insurance Company of N. A.	Sequoia Station		7.750%		7/10/19		21,100,000			21,100,000
Allianz Life Insurance Company of N. A.	Mockingbird Common		7.750%		7/10/19		10,300,000			10,300,000
Allianz Life Insurance Company of N. A.	Sterling Ridge		7.750%		7/10/19		13,900,000			13,900,000
Allianz Life Insurance Company of N. A.	Frisco Prestonbrook		7.750%		7/10/19		6,800,000			6,800,000
Allianz Life Insurance Company of N. A.	Wellington Town Square		7.750%		7/10/19		12,800,000			12,800,000
Allianz Life Insurance Company of N. A.	Berkshire Commons		7.750%		7/10/19		7,500,000			7,500,000
Debt Offering	Unsecured		6.000%		6/15/20		148,983,550			—
Net unamortized discounts on assumed debt of acquired properties							(852,656	)		(847,297	)

Total Fixed Rate Debt						$	1,882,797,445		$	1,880,784,720


Variable Rate Loans:
PNC Bank	Seminole Shoppes		LIBOR + 3.00%		9/2/11	$	5,870,828		$	991,975
US Bank	Kroger New Albany Center		LIBOR + 3.80%		10/1/14		4,250,603			4,603,603
Wells Fargo Bank	$600 Million Line of Credit		LIBOR + 0.55%		2/11/11		110,000,000			—

Total Variable Rate Debt						$	120,121,431		$	5,595,578

Total						$	2,002,918,876		$	1,886,380,298

Summary of Unsecured Public Debt Covenants

September 30, 2010


	Required			6/30/10			3/31/10			12/31/09			9/30/09
Fair Market Value Calculation Method Covenants^(a)
Total Consolidated Debt to Total Consolidated Assets	£	65	%		36	%		35	%		34	%		42	%
Secured Consolidated Debt to Total Consolidated Assets	£	40	%		7	%		7	%		7	%		8	%
Consolidated Income for Debt Service to Consolidated Debt Service	³	1.5	x		2.7			2.6			2.5			2.5
Unencumbered Consolidated Assets to Unsecured Consolidated Debt	>	150	%		292	%		309	%		310	%		250	%

Historical Cost Basis Covenants^(a)
Total Consolidated Debt to Total Undepreciated Assets	£	60	%		43	%		40	%		39	%		41	%
Secured Consolidated Debt to Total Undepreciated Assets	£	40	%		8	%		9	%		8	%		8	%
Consolidated Income for Debt Service to Consolidated Debt Service	³	1.5	x		2.7			2.6			2.5			2.5
Unencumbered Consolidated Assets to Unsecured Consolidated Debt	>	150	%		248	%		262	%		263	%		240	%

Note: Debt covenant disclosure is in arrears due to current quarter calculations being dependent on the Company’s most recent Form 10-Q or Form 10-K filing.

^(a)	For a complete listing of all Debt Covenant related to the Company’s Senior Unsecured Notes, as well as definitions of the above terms, please refer to the Company’s filings with the Securities and Exchange Commission.

Summary of Preferred Units and Stock

September 30, 2010


	Distribution			Issuance		Callable		Exchangeable		Par		Current		Issuance
	Rate			Date		Date		Date (1)		Value		Balance		Costs
Preferred Units:

Series D		7.45	%		9/29/1999		9/29/2009		1/1/2014	$	50,000,000		49,157,977		842,023

Preferred Stock:

Series 3		7.45	%		4/3/2003		4/3/2008		N/A	$	75,000,000		75,000,000		2,705,034
Series 4		7.25	%		8/31/2004		8/31/2009		N/A		125,000,000		125,000,000		4,288,376
Series 5		6.70	%		8/2/2005		8/2/2010		N/A		75,000,000		75,000,000		2,222,292

										$	275,000,000		275,000,000		9,215,702

⁽¹⁾	Preferred units are exchangeable only into preferred stock. Preferred stock is not exchangeable into common stock.

Acquisitions

September 30, 2010


Property Name	Co-investment Partner		City/State		Total GLA		Purchase Price		Regency’s Share		Yield			Anchor Tenant

Consolidated:
Mar-10 Increase investment in GRI-JV to 40% from 25%						NA	$	239,717,622	$	239,717,622		9.6	%
Sep-10 Glen Oak Plaza				Chicago, IL		62,400	$	18,000,000	$	18,000,000		6.7	%		Trader Joe’s, Walgreen’s

Total						62,400	$	257,717,622	$	257,717,622		9.4	%


Unconsolidated:

Acquisitions from 3rd Parties:
Mar-10 Providence Commons		CalSTRS		Charlotte, NC		191,301	$	30,886,500	$	7,721,625		8.9	%		Harris Teeter, Lowe’s

Total						191,301	$	30,886,500	$	7,721,625		8.9	%


Regency Contributions:
None						—		—		—		—

Total						—		—		—		—


Total Acquisitions from 3rd Parties						253,701	$	288,604,122	$	265,439,247		9.4	%


Total Acquisitions including Regency Contributions						253,701	$	288,604,122	$	265,439,247		9.4	%


Partnership with CalSTRS - Regency owns 25%

Operating Property Dispositions

September 30, 2010


Date	Property Name	Co-investment Partner		City/State		GLA		Sales Price		Regency’s Share of Sales Price		Cap Rate			Anchor Tenant

Consolidated:
Jan-10 Santa Ana Downtown Plaza					Santa Ana, CA		100,306	$	17,250,000	$	17,250,000		8.9	%		Food 4 Less

							100,306	$	17,250,000	$	17,250,000		8.9	%


Unconsolidated:
Apr-10 Memorial Collections			GRI		Houston, TX		103,330	$	15,325,000	$	6,130,000		8.6	%		Randall’s

							103,330	$	15,325,000	$	6,130,000		8.6	%


Total Dispositions							203,636	$	32,575,000	$	23,380,000		8.8	%


Partnership with GRI - Regency owns 40%

Development Sales

September 30, 2010


Date	Property Name	Co-investment Partner	City/State		GLA		Sales Price		Regency’s Share of Sales Price		Regency’s Average Cap Rate			Anchor Tenant

Sales to Co-investment Partnerships:

None						—		—		—		—			—

						—		—		—		—


Sales to Third Parties:
Feb-10 Highland Crossing				Highland, CA		45,000	$	9,215,000	$	9,215,000		9.4	%		LA Fitness

						45,000	$	9,215,000	$	9,215,000		9.4	%



Total Development Sales						45,000	$	9,215,000	$	9,215,000		9.4	%

Development Status Report

September 30, 2010


Project Name	State		CBSA	Anchor Tenant		Anchor Opens		Est. Net Dev Costs After Partner Participation		Est. Net Costs to Complete (1)			Stabilized Yield			Completion Yield (2)			Completion Year Yield Qtr/Year		Company Owned GLA		Company Owned % Leased			Gross GLA		Gross % Leased
In-Process:
Shoppes at Fairhope Village		AL	Mobile		Publix		07/01/09	$	16,335,343	$	(294,102	)		7.1	%		5.7	%		Q2 -2012		84,740		76	%		84,740		76	%
Applegate Ranch Shopping Center		CA	Merced		Wal-Mart, Target		08/01/08		37,815,400		(279,580	)		5.0	%		3.4	%		Q2 -2011		144,444		73	%		464,136		92	%
Golden Hills Promenade		CA	San Luis Obispo-Paso Robles		Lowe’s		11/01/09		33,013,195		(65,326	)		4.4	%		3.7	%		Q4 -2012		216,846		91	%		216,846		91	%
Indio Towne Center		CA	Riverside-San Bernardino- Ontario		WinCo Foods		09/01/08		41,415,708		1,469,185			5.4	%		2.9	%		Q4 -2011		132,678		57	%		368,512		85	%
Jefferson Square		CA	Riverside-San Bernardino- Ontario		Fresh & Easy		03/01/11		9,356,119		(1,986,875	)		5.5	%		2.7	%		Q2 -2012		38,013		75	%		38,013		75	%
Paseo Del Sol		CA	Santa Barbara-Santa Maria- Goleta		Whole Foods		10/01/09		32,442,176		2,570,517			6.8	%		6.8	%		Q4 -2012		49,680		86	%		49,680		86	%
Plaza Rio Vista		CA	Riverside-San Bernardino- Ontario		Stater Bros.		05/01/08		18,774,903		471,581			7.2	%		4.0	%		Q2 -2011		67,622		84	%		67,622		84	%
Centerplace of Greeley III		CO	Greeley		Best Buy, Sports Authority		09/01/08		16,297,150		(1,100,522	)		8.1	%		6.3	%		Q4 -2011		94,090		81	%		94,090		81	%
NorthGate Village		CO	Greeley		King Soopers		03/01/11		5,454,719		1,786,058			9.1	%		9.1	%		Q4 -2013		19,376		5	%		139,912		87	%
Shops at Quail Creek		CO	Boulder		King Soopers		05/01/09		7,325,932		(268,920	)		11.4	%		11.0	%		Q2 -2012		37,585		69	%		137,429		92	%
Caligo Crossing		FL	Miami-Fort Lauderdale- Miami Beach		Kohl’s		10/01/08		6,709,434		124,518			8.1	%		8.1	%		Q4 -2011		10,763		75	%		108,928		98	%
First Street Village		FL	Cape Coral-Fort Myers		Publix		11/01/07		11,432,406		(2,020,072	)		7.1	%		4.8	%		Q4 -2010		54,926		89	%		54,926		89	%
Hibernia Plaza		FL	Jacksonville		Walgreens		11/01/07		1,557,508		139,756			7.3	%		-3.0	%		Q4 -2010		8,400		17	%		23,220		70	%
Nocatee Town Center		FL	Jacksonville		Publix		02/01/10		14,208,075		(3,871,141	)		7.1	%		4.9	%		Q1 -2013		69,679		88	%		69,679		88	%
Seminole Shoppes		FL	Jacksonville		Publix		09/01/10		13,231,866		435,959			9.8	%		9.8	%		Q3 -2013		78,240		89	%		78,240		89	%
Suncoast Crossing Ph I		FL	Tampa-St. Petersburg- Clearwater		Kohl’s		10/01/08		8,891,780		(246,515	)		6.5	%		3.2	%		Q4 -2011		108,434		93	%		108,434		93	%
Suncoast Crossing Ph II		FL	Tampa-St. Petersburg- Clearwater		Target		08/01/09		7,069,962		(72,001	)		3.0	%		2.1	%		Q3 -2012		9,451		15	%		151,649		95	%
Airport Crossing		IN	Chicago-Naperville-Joliet		Kohl’s		10/01/07		2,685,323		(655,071	)		6.2	%		3.6	%		Q1 -2011		11,924		78	%		101,835		97	%
Walton Towne Center		KY	Cincinnati-Middletown		Kroger		11/01/08		6,543,406		(472,018	)		8.0	%		5.5	%		Q4 -2011		23,186		82	%		139,618		97	%
Shops at Saugus		MA	Boston-Cambridge-Quincy		PetSmart, La-Z-Boy		08/01/08		35,701,401		451,200			6.6	%		6.3	%		Q2 -2011		90,055		92	%		90,055		92	%
Village at Lee Airpark (f.k.a. Village at Lee Airport)		MD	Baltimore-Towson		Giant		12/01/10		23,573,004		10,692,970			8.0	%		8.0	%		Q4 -2013		95,002		88	%		95,002		88	%
State Street Crossing		MI	Ann Arbor		Wal-Mart		10/01/09		7,792,326		(165,650	)		6.5	%		1.8	%		Q2 -2011		21,049		60	%		168,540		95	%
Harris Crossing		NC	Raleigh-Cary		Harris Teeter		03/01/11		9,000,855		1,390,603			7.6	%		7.6	%		Q4 -2012		65,516		85	%		65,516		85	%
Market at Colonnade		NC	Raleigh-Cary		Whole Foods		03/01/11		16,010,885		8,182,688			8.6	%		8.5	%		Q4 -2013		57,511		70	%		57,511		70	%
Middle Creek Commons		NC	Raleigh-Cary		Lowes Foods		11/01/07		12,283,256		(288,841	)		9.6	%		8.1	%		Q4 -2010		73,634		93	%		73,634		93	%
Deer Springs Town Center		NV	Las Vegas-Paradise		Target, Home Depot		03/01/09		82,213,290		2,794,690			5.3	%		3.6	%		Q1 -2012		330,952		79	%		463,312		85	%
Lower Nazareth Commons		PA	Allentown-Bethlehem- Easton		Target, Sports Authority		08/01/09		26,969,755		(637,203	)		6.6	%		6.6	%		Q3 -2012		65,367		93	%		198,367		98	%
Hickory Creek Plaza		TX	Dallas-Fort Worth- Arlington		Kroger		02/01/09		9,875,605		394,888			8.3	%		7.7	%		Q4 -2011		28,134		68	%		109,398		92	%
Waterside Marketplace		TX	Houston-Baytown- Sugar Land		Kroger		10/01/09		5,786,243		224,725			11.1	%		11.1	%		Q2 -2012		24,858		93	%		147,858		99	%
Westwood Village		TX	Houston-Baytown- Sugar Land		Target, TJ Maxx, Ross		03/01/08		36,803,893		(5,609,018	)		8.2	%		6.4	%		Q4 -2010		183,546		94	%		310,420		96	%
Total In-Process Consolidated								$	556,570,920	$	13,096,484			6.7	%		5.4	%				2,295,701		82	%		4,277,122		90	%

Canopy Oak Center		FL	Ocala		Publix		09/01/08		16,899,689		(1,096,806	)		10.0	%		7.5	%		Q3 -2011		90,041		78	%		90,041		78	%
Shoppes at Bartram Park—Phase III		FL	Jacksonville		Publix		10/01/04		2,034,206		(618,521	)		12.8	%		10.2	%		Q1 -2012		14,639		49	%		33,639		78	%
Total In-Process Unconsolidated								$	18,933,895	$	(1,715,328	)		10.3	%		7.8	%				104,680		74	%		123,680		78	%

Total In-Process			32					$	575,504,815	$	11,381,156			6.8	%		5.5	%				2,400,381		81	%		4,400,802		90	%

Completions:
Hibernia Pavilion		FL	Jacksonville		Publix		08/01/08		9,529,023		71,900			8.4	%		7.7	%		Q1 -2010		51,298		95	%		51,298		95	%
Red Bank Village		OH	Cincinnati-Middletown		Wal-Mart		11/01/09		15,463,261		(10,231	)		7.0	%		4.7	%		Q1 -2010		164,317		97	%		164,317		97	%
Wadsworth Crossing		OH	Cleveland- Elyria-Mentor		Bed Bath & Beyond, Office Max		02/01/07		24,152,372		(1,107,611	)		7.0	%		5.4	%		Q1 -2010		108,164		89	%		474,886		97	%
Shops at Stonewall		VA	Washington-Arlington-Alexandria		Wegmans		11/01/08		48,003,101		(364,101	)		8.8	%		7.3	%		Q1 -2010		267,175		96	%		267,175		96	%
Buckwalter Place Ph I		SC	Hilton Head Island-Beaufort		Publix		09/01/08		11,237,953		(1,283,141	)		7.5	%		5.7	%		Q2 -2010		59,601		95	%		59,601		95	%
Shops at Highland Village		TX	Dallas-Fort Worth-Arlington		AMC Theater, Barnes & Noble		10/01/07		101,867,400		5,987,046			7.3	%		5.5	%		Q2 -2010		351,635		81	%		351,635		81	%
Vine at Castaic		CA	Los Angeles-Long Beach- Santa Ana		NA		10/01/07		10,097,407		216,510			6.7	%		4.0	%		Q3 -2010		27,314		66	%		30,814		70	%
Falcon Highlands Marketplace		CO	Colorado Springs		Wal-Mart		08/01/07		4,067,368		(130,152	)		10.3	%		8.3	%		Q3 -2010		22,491		72	%		206,796		97	%
Oakleaf Plaza		FL	Jacksonville		Publix		09/01/07		10,513,358		(2,229,002	)		9.7	%		5.0	%		Q3 -2010		73,717		81	%		88,537		84	%
Lebanon Center		TN	Nashville-Davidson- Murfreesboro		Publix		09/01/07		8,987,847		(163,975	)		8.4	%		6.9	%		Q3 -2010		63,800		89	%		63,800		89	%
Total Completed (4)			10					$	243,919,090	$	987,242			7.8	%		5.9	%				1,189,512		89	%		1,758,859		92	%

Notes:

There are no new starts for the quarter.

(1)	Construction in progress (CIP) balance and costs to date on in-process developments are not equal. CIP balance contains costs of land held for development, deposits on contracts and other pre-closing costs.

(2)	The yield at completion, no later than 3 years from last company owned anchor open date or 4 years from sitework start date.

(3)	The NOI stabilized yield on costs above after allocating land basis for outparcel proceeds is estimated to be 6.38% (in-process) and 7.15% (completions).

(4)	All completed projects are consolidated.

Projected Development Funding, Completions and Land Held

September 30, 2010

In-Process Developments Projected Funding ⁽¹⁾

($ Thousands)


Q4 2010E		Q1 2011E		Q2 2011E		Q3 2011E		Q4 2011E		2012+E

$	9,000 - $25,634	$	1,000 - $2,000	$	1,000 - $1,400	$	1,000 - $1,400	$	(2,540)⁽²⁾ - $600	$	(16,000)⁽²⁾ - $2,500

Estimated Development Completion Schedule

($ Thousands)


	Completed⁽³⁾		Q4 2010E		2011E		2012+E

Net Dev. Costs:	$	642,312	$	60,000 - $66,081	$	200,000 - $220,000	$	290,000 - $310,000

Land Held for Future Development⁽⁴⁾

($ Thousands)


# of Projects	Net Development Costs To Date		Est. Net Dev Costs at Completion

16	$	99,713	$	180,000 - $230,000

(1)	Net Funding for in-process consolidated and unconsolidated developments, excludes projected funding of future developments.

(2)	Negative amount due to expected outparcel proceeds.

(3)	Development properties already completed but not yet sold.

(4)	Net development costs at completion subject to change as costs based on preliminary development plans only.

Unconsolidated Investments

September 30, 2010


													Regency
Co-investment Partner and Portfolio Summary Abbreviation	Property Name		Number of Properties		Total GLA		Total Assets		Total Debt		Lender		Ownership Interest			Share of Debt		Investment 9/30/10			Equity Pick-up

State of Oregon
(JV-C, JV-C2)		Various		30		3,580,118	$	617,662,196	$	315,063,147		Various		20.00	%	$	63,012,629	$	36,599,700		$	671,907
(JV-CCV)		Cameron Village		1		554,767		106,220,300		47,300,000		Wells Fargo		30.00	%		14,190,000		17,474,097			(344,311	)

				31		4,134,885		723,882,496		362,363,147

GRI
(JV-GRI)		Various		85		10,688,372		2,131,345,456		1,116,727,355		Various		40.00	%		446,690,942		296,665,745			(1,019,381	)

Macquarie CountryWide
(JV-M3)		Various		4		376,174		63,729,193		44,070,000		Various		24.95	%		10,995,465		103,990			(77,288	)

Macquarie CountryWide-DESCO
(JV-D)		Various		32		2,990,376		372,224,382		179,925,996		Various		16.35	%		29,423,185		23,240,475			(610,918	)

CalSTRS
(JV-RC)		Various		8		956,824		185,610,863		105,424,133		Various		25.00	%		26,356,033		15,635,981			144,154

Regency Retail Partners
(JV-RRP)		Various		9		1,540,506		361,443,378		208,084,209		Various		20.00	%		41,541,978		21,359,183			104,560

USAA
(JV-USA)		Various		8		809,079		136,229,492		66,932,500		Aviva Life		20.01	%		13,391,855		4,215,283			(88,768	)

Publix
(JV-O)		Shoppes at Bartram Park		1		119,958		21,105,746		—		—		50.00	%		—		10,445,161			281,786
(JV-O)		Valleydale Village		1		118,466		10,695,997		—		—		50.00	%		—		5,021,015			110,487
(JV-O)		Pebblebrook and Lynnhaven		2		140,638		25,196,892		—		—		50.00	%		—		10,959,485			395,551
(JV-O)		Queensborough		1		82,333		4,418,845		—		—		50.00	%		—		3,009,037			207,444
(JV-O)		Canopy Oak Center		1		90,041		18,088,691		—		—		50.00	%		—		9,485,569			271,430

				6		551,436		79,506,171		—

H.E.B.
(JV-O)		Fairfield Town Center (1)		—		—		9,560,036		—		—		50.00	%		—		4,735,210			(153,632	)
(JV-O)		White Oak Marketplace (1)		—		—		11,821,121		—		—		50.00	%		—		5,888,037			(37,846	)
(JV-O)		Indian Springs Center		1		136,625		18,349,693		26,940,860		Wells Fargo		50.00	%		13,470,430		(4,155,662	)		241,783

				1		136,625		39,730,850		26,940,860

Individual Investors
(JV-O)		East San Marco (1)		—		—		12,457,348		8,654,869		Wells Fargo		50.00	%		4,327,435		2,095,765			(104,978	)


				184		22,184,277	$	4,106,159,629	$	2,119,123,069						$	663,399,951	$	462,778,071		$	(8,020	)

(1)	Land held for future development


Reconciliation of Equity of Regency Centers in Unconsolidated Partnerships to Regency Centers’ Investment in Real Estate Partnerships:

Equity of Regency Centers in Unconsolidated Partnerships	$	589,144,995
less: APB 18 Impairment recorded at Regency Centers		(6,000,000	)
less: Ownership percentage or Restricted Gain Method deferral recorded at Regency Centers		(42,164,602	)
less: Net book equity in excess of purchase price for 15% buy-up in JV-GRI		(78,202,322	)

Regency Centers’ Investment in Real Estate Partnerships	$	462,778,071

Unconsolidated Balance Sheets

September 30, 2010 and December 31, 2009


	2010		2009
Assets
Real estate, at cost	$	4,346,952,741	$	4,328,501,701
Less: accumulated depreciation		576,013,769		486,480,914

		3,770,938,972		3,842,020,787
Properties in development		45,010,646		52,154,043

Net real estate investments		3,815,949,618		3,894,174,830

Cash and cash equivalents		48,737,033		40,957,706
Accounts receivable, net of allowance for uncollectible accounts		35,540,649		36,928,080
Straight line rent receivable, net of reserves		31,886,626		27,303,749
Deferred costs, less accumulated amortization		31,324,383		28,664,652
Acquired lease intangible assets, net		127,341,343		147,150,687
Other assets		9,521,358		3,899,697
Regency only assets ⁽¹⁾		5,858,619		6,101,947

Total assets	$	4,106,159,629	$	4,185,181,348


Liabilities and Equity
Liabilities:
Notes payable	$	2,119,123,069	$	2,477,927,642
Accounts payable and other liabilities		70,945,731		71,589,350
Tenants’ security and escrow deposits		8,667,510		8,422,049
Acquired lease intangible liabilities, net		79,041,885		87,008,903

Total liabilities		2,277,778,195		2,644,947,944

Equity:
Equity - Regency Centers		589,144,995		375,075,768
Equity - Third parties		1,239,236,439		1,165,157,636

Total equity		1,828,381,434		1,540,233,404

Total Liabilities and Equity	$	4,106,159,629	$	4,185,181,348

⁽¹⁾	Capitalized development costs

Unconsolidated Balance Sheets - Regency’s Pro-Rata Share

September 30, 2010 and December 31, 2009


	2010		2009
Assets
Real estate, at cost	$	1,383,386,091	$	1,022,896,181
Less: accumulated depreciation		193,598,205		117,503,761

		1,189,787,886		905,392,420

Properties in development		20,988,750		21,875,458

Net real estate investments		1,210,776,636		927,267,878

Cash and cash equivalents		15,447,691		9,947,154
Accounts receivable, net of allowance for uncollectible accounts		10,830,186		8,788,044
Straight line rent receivable, net of reserves		10,206,730		6,675,060
Deferred costs, less accumulated amortization		10,246,711		6,954,873
Acquired lease intangible assets, net		32,917,298		32,253,561
Other assets		3,257,883		971,621
Regency only assets ⁽¹⁾		5,858,619		6,101,947

Total assets		$1,299,541,754	$	998,960,138


Liabilities and Equity
Liabilities:
Notes payable	$	663,399,951	$	585,472,337
Accounts payable and other liabilities		23,340,624		17,091,347
Tenants’ security and escrow deposits		2,874,390		2,098,233
Acquired lease intangible liabilities, net		20,781,794		19,222,453

Total liabilities		710,396,759		623,884,370

Equity:
Equity - Regency Centers		589,144,995		375,075,768

Total Liabilities and Equity		$1,299,541,754	$	998,960,138

⁽¹⁾	Capitalized development costs

Pro-rata financial information is not and is not intended to be a presentation in accordance with generally accepted accounting principles. However, management believes that providing such information is useful to investors in assessing the impact of its unconsolidated real estate partnership activities on the operations of the Company which include such items on a single line presentation under the equity method in the Company’s consolidated financial statements.

Unconsolidated Statements of Operations

For the periods ended September 30, 2010 and 2009


	Three Months Ended						Year to Date
	2010			2009			2010			2009
Revenues:
Minimum rent	$	82,866,840			81,451,729		$	246,876,943			244,972,844
Percentage rent		307,062			352,658			1,535,979			2,099,742
Recoveries from tenants		24,410,097			23,330,876			76,873,602			71,068,545
Termination fees		160,933			380,019			2,111,423			1,399,925
Other income		2,711,028			1,961,010			4,233,630			3,142,839

Total revenues		110,455,960			107,476,292			331,631,577			322,683,895


Operating expenses:
Operating and maintenance		15,814,124			14,647,795			51,719,455			46,408,684
Real estate taxes		15,023,038			15,020,365			44,946,084			45,021,830
Provision for doubtful accounts		22,149			4,933,272			1,580,822			8,425,697
Other expenses		47,176			142,749			423,885			599,338

Total operating expenses		30,906,487			34,744,181			98,670,246			100,455,549


Net operating income		79,549,473			72,732,111			232,961,331			222,228,346


Other expense (income):
General and administrative		1,512,483			2,423,551			5,647,553			6,634,868
Depreciation and amortization expense		38,896,101			39,785,961			116,594,543			120,216,004
Interest expense, net		31,703,465			34,834,398			98,189,819			102,690,340
Gain on sale of real estate		(498,469	)		(36,762	)		(2,830,100	)		(6,142,282	)
Provision for impairment		2,000,000			4,626,900			17,433,011			104,415,989
Other expense		1,179			1,156			(384,340	)		70,632

Total other expense		73,614,759			81,635,204			234,650,486			327,885,551


Net (loss) income	$	5,934,714			(8,903,093	)	$	(1,689,155	)		(105,657,205	)

Unconsolidated Statements of Operations - Regency’s Pro-Rata Share

For the periods ended September 30, 2010 and 2009


	Three Months Ended						Year to Date
	2010			2009			2010			2009
Revenues:
Minimum rent	$	25,927,002			19,478,708		$	80,045,967			58,255,715
Percentage rent		100,948			84,789			690,066			522,619
Recoveries from tenants		7,680,757			5,561,198			25,052,228			16,780,922
Termination fees		54,843			87,829			685,550			340,969
Other income		856,057			481,189			1,413,985			837,045

Total revenues		34,619,607			25,693,713			107,887,796			76,737,270


Operating expenses:
Operating and maintenance		5,008,399			3,508,168			17,027,551			11,043,054
Real estate taxes		4,712,113			3,560,857			14,517,122			10,651,241
Provision for doubtful accounts		29,821			1,242,217			705,476			2,087,452
Other expenses		20,081			29,904			159,808			140,519

Total operating expenses		9,770,414			8,341,146			32,409,957			23,922,266


Net operating income		24,849,193			17,352,567			75,477,839			52,815,004


Other expense (income):
General and administrative		372,906			543,755			1,394,279			1,523,080
Depreciation and amortization expense		12,102,768			9,639,276			37,531,848			28,467,792
Interest expense, net		9,653,116			8,159,376			31,502,035			24,149,848
Gain on sale of real estate		(199,388	)		(5,976	)		(1,132,040	)		(2,214,487	)
Provision for impairment		800,000			1,156,725			6,353,168			26,054,103
Other expense		584			578			(153,386	)		35,316

Total other expense		22,729,986			19,493,734			75,495,904			78,015,652


Net income (loss) before Regency only expense (income)		2,119,207			(2,141,167	)		(18,065	)		(25,200,648	)
Regency only expense (income):
Accretion of excess investment		(23,767	)		(75,296	)		(151,971	)		202,010
Depreciation of capitalized costs		41,359			18,347			157,162			55,622
Loss on sale of 100% costs		—			—			—			708,468
Brokerage fees		—			—			(15,236	)		228,750

Total Regency only expense (income)		17,592			(56,949	)		(10,045	)		1,194,850


Net (loss) income	$	2,101,615			(2,084,218	)	$	(8,020	)		(26,395,498	)

Pro-rata financial information is not and is not intended to be a presentation in accordance with generally accepted accounting principles. However, the impact of its unconsolidated real estate partnership activities on the operations of the Company which include such management believes that providing such information is useful to investors in assessing items on a single line presentation under the equity method in the Company’s consolidated financial statements.

Summary of Unconsolidated Debt

September 30, 2010 and December 31, 2009


Total Debt Outstanding:	9/30/10		12/31/09

Mortgage loans payable:
Fixed rate secured loans	$	2,099,422,587		2,403,835,297
Variable rate secured loans		—		47,234,600
Unsecured line of credit variable rate		19,700,482		26,857,745

Total	$	2,119,123,069		2,477,927,642


Schedule of Maturities by Year:	Scheduled Principal Payments		Mortgage Loan Maturities		Unsecured Maturities		Total			Regency’s Pro Rata Share

2010	$	1,142,235		—		—		1,142,235			269,587
2011		4,275,171		466,469,886		8,654,869		479,399,926			185,598,832
2012		5,011,729		244,418,296		11,045,613		260,475,638			98,385,927
2013		4,878,479		32,447,164				37,325,643			13,506,735
2014		4,903,899		77,301,238				82,205,137			23,221,381
2015		4,515,216		300,074,662				304,589,878			71,473,661
2016		4,530,057		328,915,570				333,445,627			101,772,698
2017		3,877,791		190,654,500				194,532,291			40,728,140
2018		3,789,959		87,341,126				91,131,085			19,627,974
2019		2,994,108		65,964,224				68,958,332			15,491,302
>10 Years		10,702,074		250,339,389				261,041,463			92,314,719
Net unamortized debt premium				4,875,814				4,875,814			1,008,995

	$	50,620,718		2,048,801,869		19,700,482		2,119,123,069			663,399,951


Percentage of Total Debt:							9/30/10			12/31/09
Fixed								99.1	%		97.0	%
Variable								0.9	%		3.0	%

Current Average Interest Rates:⁽¹⁾
Fixed								5.8	%		5.6	%
Variable								2.1	%		2.2	%
Effective Interest Rate								5.8	%		5.5	%

(1)Interest rates are as of the quarter end and exclude the impact of deferred loan cost amortization.

Average Maturity Date:
Fixed								June 14, 2015			October 20, 2013
Variable								February 11, 2012			August 23, 2010

Summary of Unconsolidated Debt - Regency’s Pro-Rata Share
Mortgage Loans Payable:
Fixed rate secured loans							$	656,863,394			565,738,498
Variable rate secured loans								—			11,808,650
Unsecured line of credit variable rate								6,536,557			7,925,189

Total							$	663,399,951			585,472,337

Leasing Statistics - Wholly Owned and Regency’s Pro-Rata Share of Co-investment Partnerships

September 30, 2010


Total	Leasing Transactions		Sq. Feet		Base Rent Per Sq. Ft.		Rent Growth %			Weighted Avg. Lease Term		Tenant Improvements Per Sq. Ft.
3rd Quarter 2010		460		1,117,023	$	17.81		-4.5	%		5.5	$	2.61
2nd Quarter 2010		426		977,696		19.76		-0.1	%		5.6		3.74
1st Quarter 2010		351		883,332		18.31		1.1	%		6.1		4.61
4th Quarter 2009		465		968,222		18.33		-0.4	%		6.0		2.50

Total - 12 months		1,702		3,946,272	$	18.53		-1.1	%		5.8	$	3.31


New Leases	Leasing Transactions		Sq. Feet		Base Rent Per Sq. Ft.		Rent Growth %			Weighted Avg. Lease Term		Tenant Improvements Per Sq. Ft.
3rd Quarter 2010		181		302,569	$	18.86		-12.6	%		6.7	$	9.05
2nd Quarter 2010		150		350,341		20.12		0.2	%		8.8		9.45
1st Quarter 2010		136		347,904		18.79		2.8	%		8.5		10.47
4th Quarter 2009		165		270,297		17.90		-18.5	%		6.5		8.36

Total - 12 months		632		1,271,111	$	18.99		-6.5	%		7.7	$	9.40


Renewals	Leasing Transactions		Sq. Feet		Base Rent Per Sq. Ft.		Rent Growth %			Weighted Avg. Lease Term		Tenant Improvements Per Sq. Ft.
3rd Quarter 2010		279		814,454	$	17.43		-1.9	%		5.0	$	0.22
2nd Quarter 2010		276		627,355		19.56		-0.2	%		3.8		0.54
1st Quarter 2010		215		535,427		18.00		0.1	%		4.6		0.79
4th Quarter 2009		300		697,925		18.49		6.8	%		5.8		0.23

Total - 12 months		1,070		2,675,162	$	18.32		1.2	%		4.8	$	0.41

Notes:

Rent growth is on a same space, cash basis

All amounts reported at execution

Leasing Statistics - Wholly Owned and 100% of Co-investment Partnerships

September 30, 2010


Total	Leasing Transactions		Sq. Feet		Base Rent Per Sq. Ft.		Rent Growth %			Weighted Avg. Lease Term		Tenant Improvements Per Sq. Ft.
3rd Quarter 2010		460		1,592,220	$	17.81		-4.5	%		5.4	$	2.82
2nd Quarter 2010		426		1,498,478		18.60		-0.8	%		5.3		2.85
1st Quarter 2010		351		1,238,351		18.18		-1.5	%		5.7		3.89
4th Quarter 2009		465		1,503,042		17.95		-0.9	%		5.5		2.05

Total - 12 months		1,702		5,832,091	$	18.13		-2.0	%		5.5	$	2.86


New Leases	Leasing Transactions		Sq. Feet		Base Rent Per Sq. Ft.		Rent Growth %			Weighted Avg. Lease Term		Tenant Improvements Per Sq. Ft.
3rd Quarter 2010		181		452,181	$	18.08		-14.6	%		6.8	$	9.42
2nd Quarter 2010		150		460,211		19.69		-1.6	%		8.4		8.37
1st Quarter 2010		136		476,474		18.18		-2.5	%		7.9		9.19
4th Quarter 2009		165		374,515		17.54		-17.8	%		6.1		7.30

Total - 12 months		632		1,763,381	$	18.41		-8.9	%		7.4	$	8.63


Renewals	Leasing Transactions		Sq. Feet		Base Rent Per Sq. Ft.		Rent Growth %			Weighted Avg. Lease Term		Tenant Improvements Per Sq. Ft.
3rd Quarter 2010		279		1,140,039	$	17.70		-0.9	%		4.8	$	0.20
2nd Quarter 2010		276		1,038,267		18.12		-0.5	%		3.9		0.40
1st Quarter 2010		215		761,877		18.18		-0.9	%		4.3		0.58
4th Quarter 2009		300		1,128,527		18.08		4.9	%		5.3		0.31

Total - 12 months		1,070		4,068,710	$	18.00		0.8	%		4.6	$	0.35

Notes:

Rent growth is on a same space, cash basis

All amounts reported at execution

Average Base Rent by State - Wholly Owned and Regency’s Pro-Rata Share of Co-investment Partnerships

September 30, 2010


State	Number of Properties		GLA		% of Total GLA			% Leased⁽¹⁾			Annualized Base Rent⁽²⁾		% of Ann. Base Rent			Average Base Rent/ Sq. Ft
Alabama		2		143,973		0.5	%		70.9	%	$	1,381,892		0.3	%	$	13.54
Arizona		4		409,967		1.4	%		92.5	%		5,342,705		1.2	%		15.22
California		69		6,349,108		21.4	%		93.8	%		126,312,851		29.3	%		22.03
Colorado		20		1,452,280		4.9	%		89.0	%		16,867,348		3.9	%		13.37
Connecticut		1		71,944		0.2	%		99.8	%		1,639,913		0.4	%		22.84
Delaware		4		335,315		1.1	%		90.4	%		4,423,803		1.0	%		14.62
District of Columbia		2		12,437		0.0	%		100.0	%		716,858		0.2	%		57.64
Florida		56		4,769,562		16.1	%		92.0	%		54,020,734		12.5	%		12.69
Georgia		19		1,476,951		5.0	%		88.0	%		20,121,145		4.7	%		15.94
Illinois		24		1,136,204		3.8	%		90.3	%		12,579,319		2.9	%		12.59
Indiana		6		123,099		0.4	%		76.9	%		1,593,728		0.4	%		18.20
Kentucky		1		23,186		0.1	%		81.9	%		326,555		0.1	%		17.20
Maryland		16		742,331		2.5	%		90.4	%		10,144,193		2.3	%		17.78
Massachusetts		3		408,814		1.4	%		94.1	%		6,750,286		1.6	%		17.71
Michigan		2		118,273		0.4	%		85.8	%		1,449,229		0.3	%		14.28
Minnesota		3		165,682		0.6	%		97.0	%		2,081,561		0.5	%		13.03
Missouri		23		370,404		1.2	%		96.7	%		3,232,577		0.7	%		10.26
Nevada		2		439,467		1.5	%		79.5	%		4,441,093		1.0	%		12.78
New Jersey		2		62,593		0.2	%		93.8	%		956,782		0.2	%		16.29
North Carolina		16		1,238,925		4.2	%		92.9	%		14,691,859		3.4	%		14.13
Ohio		15		1,805,680		6.1	%		92.7	%		18,482,552		4.3	%		11.11
Oregon		8		696,300		2.3	%		95.8	%		11,169,589		2.6	%		16.96
Pennsylvania		12		680,119		2.3	%		93.1	%		12,016,385		2.8	%		19.32
South Carolina		6		175,543		0.6	%		96.3	%		2,280,608		0.5	%		13.49
Tennessee		7		493,393		1.7	%		92.4	%		6,040,151		1.4	%		13.31
Texas		34		3,378,906		11.4	%		90.0	%		50,828,438		11.8	%		17.11
Virginia		29		1,845,107		6.2	%		94.5	%		29,745,819		6.9	%		17.25
Washington		11		629,702		2.1	%		94.7	%		11,348,960		2.6	%		19.29
Wisconsin		2		107,651		0.4	%		94.2	%		748,359		0.2	%		7.38

Total All Properties		399		29,662,913		100.0	%		91.9	%	$	431,735,291		100.0	%	$	16.36

(1)	% leased includes leases that are executed but not yet rent paying.

(2)	Annualized Base Rent does not include ground leases.

Average Base Rent by State - Wholly Owned and 100% of Co-investment Partnerships

September 30, 2010


State	Number of Properties		GLA		% of total GLA			% Leased⁽¹⁾			Annualized Base Rent⁽²⁾		% of Ann. Base Rent			Average Base Rent/ Sq. Ft
Alabama		2		203,206		0.5	%		68.7	%	$	1,803,573		0.3	%	$	12.92
Arizona		4		496,073		1.1	%		92.9	%		6,344,719		1.0	%		14.93
California		69		8,720,146		19.4	%		94.0	%		168,463,988		26.2	%		21.25
Colorado		20		2,064,320		4.6	%		90.7	%		23,982,224		3.7	%		13.25
Connecticut		1		179,860		0.4	%		99.8	%		4,099,783		0.6	%		22.84
Delaware		4		474,267		1.1	%		89.5	%		6,436,956		1.0	%		15.21
District of Columbia		2		39,647		0.1	%		100.0	%		2,059,671		0.3	%		51.95
Florida		56		5,433,356		12.1	%		91.8	%		62,570,962		9.7	%		12.91
Georgia		19		1,671,632		3.7	%		88.7	%		22,509,055		3.5	%		15.60
Illinois		24		2,834,359		6.3	%		90.4	%		30,548,393		4.7	%		12.20
Indiana		6		273,253		0.6	%		83.7	%		3,499,350		0.5	%		15.79
Kentucky		1		23,186		0.1	%		81.9	%		326,555		0.1	%		17.20
Maryland		16		1,860,710		4.1	%		91.2	%		27,305,432		4.2	%		17.43
Massachusetts		3		557,037		1.2	%		95.6	%		8,322,854		1.3	%		15.72
Michigan		2		118,273		0.3	%		85.8	%		1,449,229		0.2	%		14.28
Minnesota		3		483,520		1.1	%		97.4	%		5,968,849		0.9	%		12.75
Missouri		23		2,265,466		5.0	%		96.7	%		19,771,116		3.1	%		10.26
Nevada		2		439,467		1.0	%		79.5	%		4,441,093		0.7	%		12.78
New Jersey		2		156,482		0.3	%		93.8	%		2,391,954		0.4	%		16.29
North Carolina		16		2,189,976		4.9	%		93.7	%		27,749,967		4.3	%		14.54
Ohio		15		2,235,338		5.0	%		92.5	%		23,676,356		3.7	%		11.51
Oregon		8		752,161		1.7	%		95.8	%		11,853,124		1.8	%		16.64
Pennsylvania		12		1,399,355		3.1	%		93.1	%		21,971,095		3.4	%		17.07
South Carolina		6		360,718		0.8	%		96.3	%		4,430,696		0.7	%		12.75
Tennessee		7		565,386		1.3	%		92.7	%		6,884,014		1.1	%		13.19
Texas		34		4,250,242		9.4	%		90.2	%		62,855,853		9.8	%		16.77
Virginia		29		3,698,186		8.2	%		94.8	%		63,126,453		9.8	%		18.26
Washington		11		1,038,514		2.3	%		95.5	%		16,928,087		2.6	%		17.22
Wisconsin		2		269,128		0.6	%		94.2	%		1,870,898		0.3	%		7.38

Total All Properties		399		45,053,264		100.0	%		92.5	%	$	643,642,299		100.0	%	$	15.95

(1)	% leased includes leases that are executed but not yet rent paying.

(2)	Annualized Base Rent does not include ground leases.

Portfolio Summary Report By Region

September 30, 2010


								JVs at 100%		REG’s pro-rata share		JVs at 100%			REG’s pro-rata share			JVs at 100%			REG’s pro-rata share
Property Name	JV	REG’s Ownership %			State	CBSA	Yr Const, Last Renovation or Dev Start Yr	GLA		GLA		% Leased			% Leased			% Leased – Operating Properties			% Leased – Operating Properties			Anchor- Owned GLA		Grocery Anchor GLA		Major Tenants⁽¹⁾	Average Base Rent/ Sq. Ft⁽²⁾
Shoppes at Fairhope Village					AL	Mobile	2008		84,740		84,740		76.2	%		76.2	%								—		54,340	Publix	$	14.88
Valleydale Village Shop Center	JV-O		50	%	AL	Birmingham-Hoover	2003		118,466		59,233		63.3	%		63.3	%								—		44,271	Publix	$	11.24
					AL				203,206		143,973		68.7	%		70.9	%		63.3	%		63.3	%		—		98,611
Anthem Marketplace					AZ	Phoenix-Mesa-Scottsdale	2000		113,292		113,292		91.8	%		91.8	%								—		55,256	Safeway	$	15.50
Palm Valley Marketplace	JV-C		20	%	AZ	Phoenix-Mesa-Scottsdale	1999		107,633		21,527		94.9	%		94.9	%								—		55,403	Safeway	$	13.56
Pima Crossing					AZ	Phoenix-Mesa-Scottsdale	1996		239,438		239,438		93.9	%		93.9	%								—		—	Golf & Tennis Pro Shop, Inc.	$	15.67
Shops at Arizona					AZ	Phoenix-Mesa-Scottsdale	2000		35,710		35,710		84.2	%		84.2	%								—		—	—	$	12.13
					AZ				496,073		409,967		92.9	%		92.5	%		92.9	%		92.5	%		—		110,659
4S Commons Town Center					CA	San Diego-Carlsbad-San Marcos	2004		240,060		240,060		95.5	%		95.5	%								—		68,000	Ralphs, Jimbo’s...Naturally!	$	27.40
Amerige Heights Town Center					CA	Los Angeles-Long Beach-Santa Ana	2000		96,680		96,680		100.0	%		100.0	%								142,600		57,560	Albertsons, (Target)	$	25.33
Applegate Ranch Shopping Center					CA	Merced	2006		144,444		144,444		73.1	%		73.1	%								319,692		178,500	(Super Target), (Home Depot)	$	15.79
Auburn Village	JV-GRI		40	%	CA	Sacramento—Arden-Arcade—Roseville	1990		133,944		53,578		89.4	%		89.4	%								—		45,540	Bel Air Market	$	18.59
Bayhill Shopping Center	JV-GRI		40	%	CA	San Francisco-Oakland-Fremont	1990		121,846		48,738		100.0	%		100.0	%								—		32,110	Mollie Stone’s Market	$	20.84
Blossom Valley	JV-USAA		20	%	CA	San Jose-Sunnyvale-Santa Clara	1990		93,316		18,663		94.1	%		94.1	%								—		34,208	Safeway	$	23.98
Brea Marketplace	JV-GRI		40	%	CA	Los Angeles-Long Beach-Santa Ana	1987		352,022		140,809		97.2	%		97.2	%								—		24,867	Sprout’s Markets	$	15.30
Clayton Valley Shopping Center					CA	San Francisco-Oakland-Fremont	2004		260,205		260,205		94.0	%		94.0	%								—		14,000	Fresh & Easy, Home Depot	$	25.37
Clovis Commons					CA	Fresno	2004		174,990		174,990		95.9	%		95.9	%								145,653		145,653	(Super Target)	$	20.14
Corral Hollow	JV-RC		25	%	CA	Stockton	2000		167,184		41,796		98.3	%		98.3	%								—		65,715	Safeway, Orchard Supply & Hardware	$	15.97
Costa Verde Center					CA	San Diego-Carlsbad-San Marcos	1988		178,623		178,623		91.5	%		91.5	%								—		40,000	Bristol Farms	$	34.02
Diablo Plaza					CA	San Francisco-Oakland-Fremont	1982		63,265		63,265		93.4	%		93.4	%								53,000		53,000	(Safeway)	$	33.93
El Camino Shopping Center					CA	Los Angeles-Long Beach-Santa Ana	1995		135,728		135,728		100.0	%		100.0	%								—		35,650	Von’s Food & Drug	$	21.40
El Cerrito Plaza					CA	San Francisco-Oakland-Fremont	2000		256,035		256,035		98.0	%		98.0	%								66,700		77,888	(Lucky’s)	$	24.92
El Norte Pkwy Plaza					CA	San Diego-Carlsbad-San Marcos	1984		90,549		90,549		95.9	%		95.9	%								—		42,315	Von’s Food & Drug	$	15.63
Encina Grande					CA	San Francisco-Oakland-Fremont	1965		102,413		102,413		98.3	%		98.3	%								—		22,500	Safeway	$	20.32
Falcon Ridge Town Center Phase I	JV-RRP		20	%	CA	Riverside-San Bernardino-Ontario	2004		232,754		46,551		97.8	%		97.8	%								123,735		43,718	Stater Bros., (Target)	$	15.59
Falcon Ridge Town Center Phase II	JV-RRP		20	%	CA	Riverside-San Bernardino-Ontario	2005		66,864		13,373		100.0	%		100.0	%								—		—	24 Hour Fitness	$	26.65
Five Points Shopping Center	JV-GRI		40	%	CA	Santa Barbara-Santa Maria-Goleta	1960		144,553		57,821		97.0	%		97.0	%								—		35,305	Albertsons	$	24.19
Folsom Prairie City Crossing					CA	Sacramento—Arden-Arcade—Roseville	1999		90,237		90,237		98.0	%		98.0	%								—		55,255	Safeway	$	19.26
French Valley Village Center					CA	Riverside-San Bernardino-Ontario	2004		98,752		98,752		94.1	%		94.1	%								—		44,054	Stater Bros.	$	23.44
Friars Mission Center					CA	San Diego-Carlsbad-San Marcos	1989		146,897		146,897		95.6	%		95.6	%								—		55,303	Ralphs	$	28.22
Gateway 101					CA	San Francisco-Oakland-Fremont	2008		92,110		92,110		100.0	%		100.0	%								212,485		—	(Home Depot), (Best Buy), Sports Authority, Nordstrom Rack	$	31.14
Gelson’s Westlake Market Plaza					CA	Oxnard-Thousand Oaks-Ventura	2002		84,975		84,975		90.8	%		90.8	%								—		37,500	Gelson’s Markets	$	16.80
Golden Hills Promenade					CA	San Luis Obispo-Paso Robles	2006		216,846		216,846		91.1	%		91.1	%								—		—	Lowe’s	$	4.73
Granada Village	JV-GRI		40	%	CA	Los Angeles-Long Beach-Santa Ana	1965		224,649		89,860		80.1	%		80.1	%								—		—	—	$	17.70
Hasley Canyon Village	JV-USAA		20	%	CA	Los Angeles-Long Beach-Santa Ana	2003		65,801		13,160		98.2	%		98.2	%								—		51,800	Ralphs	$	22.40
Heritage Plaza					CA	Los Angeles-Long Beach-Santa Ana	1981		231,582		231,582		92.7	%		92.7	%								—		44,376	Ralphs	$	28.52
Indio Towne Center					CA	Riverside-San Bernardino-Ontario	2006		132,682		132,682		57.5	%		57.5	%								235,834		93,696	(Home Depot), (WinCo)	$	17.97
Jefferson Square					CA	Riverside-San Bernardino-Ontario	2007		38,013		38,013		74.7	%		74.7	%								—		13,969	Fresh & Easy	$	17.94
Laguna Niguel Plaza	JV-GRI		40	%	CA	Los Angeles-Long Beach-Santa Ana	1985		41,943		16,777		96.7	%		96.7	%								38,917		38,917	(Albertsons)	$	26.47
Loehmanns Plaza California					CA	San Jose-Sunnyvale-Santa Clara	1983		113,310		113,310		98.2	%		98.2	%								53,000		53,000	(Safeway)	$	16.95
Marina Shores	JV-C2		20	%	CA	Los Angeles-Long Beach-Santa Ana	2001		67,727		13,545		91.1	%		91.1	%								—		25,987	Whole Foods	$	30.54
Mariposa Shopping Center	JV-GRI		40	%	CA	San Jose-Sunnyvale-Santa Clara	1957		126,658		50,663		96.8	%		96.8	%								—		42,896	Safeway	$	17.91
Morningside Plaza					CA	Los Angeles-Long Beach-Santa Ana	1996		91,212		91,212		93.2	%		93.2	%								—		42,630	Stater Bros.	$	22.48
Navajo Shopping Center	JV-GRI		40	%	CA	San Diego-Carlsbad-San Marcos	1964		102,139		40,856		96.6	%		96.6	%								—		44,180	Albertsons	$	12.72
Newland Center					CA	Los Angeles-Long Beach-Santa Ana	1985		149,140		149,140		98.8	%		98.8	%								—		58,000	Albertsons	$	20.15
Oakbrook Plaza					CA	Oxnard-Thousand Oaks-Ventura	1982		83,286		83,286		98.1	%		98.1	%								—		43,842	Albertsons	$	16.91
Park Plaza Shopping Center	JV-C		20	%	CA	Los Angeles-Long Beach-Santa Ana	1991		194,396		38,879		96.4	%		96.4	%								—		28,210	Henry’s Marketplace	$	18.36
Paseo Del Sol					CA	Santa Barbara-Santa Maria-Goleta	2004		49,680		49,680		86.1	%		86.1	%								—		40,000	Whole Foods	$	47.95
Plaza Hermosa					CA	Los Angeles-Long Beach-Santa Ana	1984		94,940		94,940		92.9	%		92.9	%								—		36,800	Von’s Food & Drug	$	17.98
Pleasant Hill Shopping Center	JV-GRI		40	%	CA	San Francisco-Oakland-Fremont	1970		227,681		91,072		99.1	%		99.1	%								—		—	Target, Toys “R” Us	$	22.41
Point Loma Plaza	JV-GRI		40	%	CA	San Diego-Carlsbad-San Marcos	1987		212,415		84,966		96.4	%		96.4	%								—		50,000	Von’s Food & Drug	$	17.88
Powell Street Plaza					CA	San Francisco-Oakland-Fremont	1987		165,928		165,928		100.0	%		100.0	%								—		10,122	Trader Joe’s	$	29.00
Raley’s Supermarket	JV-C2		20	%	CA	Sacramento—Arden-Arcade—Roseville	1964		62,827		12,565		100.0	%		100.0	%								—		62,827	Raley’s	$	5.41
Rancho San Diego Village	JV-GRI		40	%	CA	San Diego-Carlsbad-San Marcos	1981		153,256		61,302		92.3	%		92.3	%								—		39,777	Von’s Food & Drug	$	18.49
Rio Vista Town Center					CA	Riverside-San Bernardino-Ontario	2005		67,622		67,622		83.6	%		83.6	%								—		44,700	Stater Bros.	$	15.90
Rona Plaza					CA	Los Angeles-Long Beach-Santa Ana	1989		51,760		51,760		100.0	%		100.0	%								—		37,194	Superior Super Warehouse	$	18.27
San Leandro Plaza					CA	San Francisco-Oakland-Fremont	1982		50,432		50,432		100.0	%		100.0	%								38,250		38,250	(Safeway)	$	29.11
Seal Beach	JV-C		20	%	CA	Los Angeles-Long Beach-Santa Ana	1966		96,858		19,372		91.5	%		91.5	%								—		48,000	Von’s Food & Drug	$	23.46
Sequoia Station					CA	San Francisco-Oakland-Fremont	1996		103,148		103,148		88.5	%		88.5	%								62,050		62,050	(Safeway)	$	33.71
Silverado Plaza	JV-GRI		40	%	CA	Napa	1974		84,916		33,966		100.0	%		100.0	%								—		31,833	Nob Hill	$	15.04
Snell & Branham Plaza	JV-GRI		40	%	CA	San Jose-Sunnyvale-Santa Clara	1988		99,350		39,740		95.5	%		95.5	%								—		52,550	Safeway	$	16.14
Stanford Ranch Village	JV-GRI		40	%	CA	Sacramento—Arden-Arcade—Roseville	1991		89,875		35,950		95.1	%		95.1	%								—		45,540	Bel Air Market	$	16.17
Strawflower Village					CA	San Francisco-Oakland-Fremont	1985		78,827		78,827		98.9	%		98.9	%								—		33,753	Safeway	$	18.99
Tassajara Crossing					CA	San Francisco-Oakland-Fremont	1990		146,188		146,188		95.8	%		95.8	%								—		56,496	Safeway	$	20.69

Portfolio Summary Report By Region

September 30, 2010


								JVs at 100%		REG’s pro-rata share		JVs at 100%			REG’s pro-rata share			JVs at 100%			REG’s pro-rata share
Property Name	JV	REG’s Ownership %			State	CBSA	Yr Const, Last Renovation or Dev Start Yr	GLA		GLA		% Leased			% Leased			% Leased – Operating Properties			% Leased – Operating Properties			Anchor- Owned GLA		Grocery Anchor GLA		Major Tenants⁽¹⁾	Average Base Rent/ Sq. Ft⁽²⁾
Twin Oaks Shopping Center	JV-GRI		40	%	CA	Los Angeles-Long Beach-Santa Ana	1978		98,399		39,360		94.4	%		94.4	%								—		40,775	Ralphs	$	13.99
Twin Peaks					CA	San Diego-Carlsbad-San Marcos	1988		198,139		198,139		99.4	%		99.4	%								—		44,686	Albertsons, Target	$	17.44
Valencia Crossroads					CA	Los Angeles-Long Beach-Santa Ana	2003		172,856		172,856		98.8	%		98.8	%								—		35,000	Whole Foods, Kohl’s	$	22.84
Ventura Village					CA	Oxnard-Thousand Oaks-Ventura	1984		76,070		76,070		92.1	%		92.1	%								—		42,500	Von’s Food & Drug	$	18.90
Vine at Castaic					CA	Los Angeles-Long Beach-Santa Ana	2005		27,314		27,314		66.4	%		66.4	%								—		—	—	$	26.77
Vista Village Phase I	JV-RRP		20	%	CA	San Diego-Carlsbad-San Marcos	2003		129,009		25,802		91.1	%		91.1	%								165,000		—	Krikorian Theaters, (Lowe’s)	$	25.21
Vista Village Phase II	JV-RRP		20	%	CA	San Diego-Carlsbad-San Marcos	2003		55,000		11,000		45.5	%		45.5	%								—		25,000	Frazier Farms	$	16.00
Vista Village IV					CA	San Diego-Carlsbad-San Marcos	2006		11,000		11,000		100.0	%		100.0	%								—		—	—	$	39.12
West Park Plaza					CA	San Jose-Sunnyvale-Santa Clara	1996		88,104		88,104		98.0	%		98.0	%								—		24,712	Safeway	$	17.13
Westlake Village Plaza and Center					CA	Oxnard-Thousand Oaks-Ventura	1975		190,529		190,529		90.4	%		90.4	%								—		41,300	Von’s Food & Drug	$	30.34
Westridge Village					CA	Los Angeles-Long Beach-Santa Ana	2003		92,287		92,287		98.9	%		98.9	%								—		50,782	Albertsons	$	25.52
Woodman Van Nuys					CA	Los Angeles-Long Beach-Santa Ana	1992		107,614		107,614		95.7	%		95.7	%								—		77,648	El Super	$	13.53
Woodside Central					CA	San Francisco-Oakland-Fremont	1993		80,591		80,591		94.0	%		94.0	%								113,000		—	(Target)	$	20.37
Ygnacio Plaza	JV-GRI		40	%	CA	San Francisco-Oakland-Fremont	1968		109,701		43,880		100.0	%		100.0	%								—		17,050	Fresh & Easy	$	35.16
					CA				8,720,146		6,349,108		94.0	%		93.8	%		95.2	%		95.6	%		1,769,916		2,879,489
Applewood Shopping Center	JV-GRI		40	%	CO	Denver-Aurora	1956		375,622		150,249		95.7	%		95.7	%								—		71,074	King Soopers, Wal-Mart	$	9.35
Arapahoe Village	JV-GRI		40	%	CO	Boulder	1957		159,237		63,695		87.7	%		87.7	%								—		43,500	Safeway	$	15.66
Belleview Square					CO	Denver-Aurora	1978		117,335		117,335		100.0	%		100.0	%								—		65,104	King Soopers	$	15.33
Boulevard Center					CO	Denver-Aurora	1986		88,579		88,579		93.1	%		93.1	%								52,700		52,700	(Safeway)	$	22.64
Buckley Square					CO	Denver-Aurora	1978		116,147		116,147		91.4	%		91.4	%								—		62,400	King Soopers	$	8.36
Centerplace of Greeley Phase III					CO	Greeley	2007		94,090		94,090		81.5	%		81.5	%								—		—	Sports Authority	$	14.69
Cherrywood Square	JV-GRI		40	%	CO	Denver-Aurora	1978		86,162		34,465		94.9	%		94.9	%								—		51,640	King Soopers	$	10.85
Crossroads Commons	JV-C		20	%	CO	Boulder	1986		143,444		28,689		96.7	%		96.7	%								—		39,247	Whole Foods	$	26.64
Falcon Marketplace					CO	Colorado Springs	2005		22,491		22,491		72.5	%		72.5	%								184,305		50,000	(Wal-Mart Supercenter)	$	22.33
Hilltop Village	JV-M3		25	%	CO	Denver-Aurora	2003		100,030		25,008		95.1	%		95.1	%								—		66,000	King Soopers	$	8.56
South Lowry Square					CO	Denver-Aurora	1993		119,916		119,916		87.7	%		87.7	%								—		62,600	Safeway	$	12.66
Littleton Square					CO	Denver-Aurora	1997		94,222		94,222		72.1	%		72.1	%								—		49,751	King Soopers	$	11.94
Lloyd King Center					CO	Denver-Aurora	1998		83,326		83,326		91.6	%		91.6	%								—		61,040	King Soopers	$	11.04
Marketplace at Briargate					CO	Colorado Springs	2006		29,075		29,075		90.0	%		90.0	%								66,000		66,000	(King Soopers)	$	28.18
Monument Jackson Creek					CO	Colorado Springs	1999		85,263		85,263		100.0	%		100.0	%								—		69,913	King Soopers	$	10.79
NorthGate Village					CO	Greeley	2008		19,377		19,377		5.3	%		5.3	%								125,000		125,000	(King Soopers)		NA
Ralston Square Shopping Center	JV-GRI		40	%	CO	Denver-Aurora	1977		82,750		33,100		96.1	%		96.1	%								—		55,311	King Soopers	$	9.14
Shops at Quail Creek					CO	Denver-Aurora	2008		37,585		37,585		69.2	%		69.2	%								99,844		99,844	(King Soopers)	$	24.18
Stroh Ranch					CO	Denver-Aurora	1998		93,436		93,436		93.3	%		93.3	%								—		69,719	King Soopers	$	11.77
Woodmen Plaza					CO	Colorado Springs	1998		116,233		116,233		88.8	%		88.8	%								—		69,716	King Soopers	$	12.95
					CO				2,064,320		1,452,280		90.7	%		89.0	%		92.4	%		91.4	%		527,849		1,230,559
Corbin’s Corner	JV-GRI		40	%	CT	Hartford-West Hartford-East Hartford	1962		179,860		71,944		99.8	%		99.8	%								—		10,150	Trader Joe’s	$	22.84
					CT				179,860		71,944		99.8	%		99.8	%		99.8	%		99.8	%		—		10,150
Shops at The Columbia	JV-RC		25	%	DC	Washington-Arlington-Alexandria	2006		22,812		5,703		100.0	%		100.0	%								—		11,833	Trader Joe’s	$	31.27
Spring Valley Shopping Center	JV-GRI		40	%	DC	Washington-Arlington-Alexandria	1930		16,835		6,734		100.0	%		100.0	%								—		—	—	$	79.97
					DC				39,647		12,437		100.0	%		100.0	%		100.0	%		100.0	%		—		11,833
First State Plaza	JV-GRI		40	%	DE	Philadelphia-Camden-Wilmington	1988		164,779		65,912		86.8	%		86.8	%								—		57,319	Shop Rite	$	15.26
Pike Creek					DE	Philadelphia-Camden-Wilmington	1981		231,772		231,772		91.1	%		91.1	%								—		49,069	Acme Markets, K-Mart	$	12.91
Shoppes of Graylyn	JV-GRI		40	%	DE	Philadelphia-Camden-Wilmington	1971		66,808		26,723		89.1	%		89.1	%								—		—	—	$	20.02
White Oak - Dover, DE					DE	Dover	2000		10,908		10,908		100.0	%		100.0	%								—		—	—	$	32.73
					DE				474,267		335,315		89.5	%		90.4	%		89.5	%		90.4	%		—		106,388
Anastasia Plaza					FL	Jacksonville	1988		102,342		102,342		97.6	%		97.6	%								—		48,555	Publix	$	11.22
Aventura Shopping Center					FL	Miami-Fort Lauderdale-Miami Beach	1974		102,876		102,876		85.4	%		85.4	%								—		35,908	Publix	$	14.41
Beneva Village Shops					FL	Sarasota-Bradenton-Venice	1987		141,532		141,532		88.7	%		88.7	%								—		42,112	Publix	$	12.08
Berkshire Commons					FL	Naples-Marco Island	1992		106,354		106,354		98.9	%		98.9	%								—		65,537	Publix	$	12.27
Bloomingdale Square					FL	Tampa-St. Petersburg-Clearwater	1987		267,736		267,736		93.6	%		93.6	%								—		39,795	Publix, Wal-Mart, Bealls	$	8.87
Boynton Lakes Plaza					FL	Miami-Fort Lauderdale-Miami Beach	1993		124,924		124,924		84.7	%		84.7	%								—		56,000	Winn-Dixie	$	11.61
Caligo Crossing					FL	Miami-Fort Lauderdale-Miami Beach	2007		10,762		10,762		74.9	%		74.9	%								98,165		—	(Kohl’s)	$	36.02
Canopy Oak Center	JV-O		50	%	FL	Ocala	2006		90,041		45,021		77.8	%		77.8	%								—		54,340	Publix	$	17.63
Carriage Gate					FL	Tallahassee	1978		76,784		76,784		93.2	%		93.2	%								—		—	—	$	12.48
Chasewood Plaza					FL	Miami-Fort Lauderdale-Miami Beach	1986		155,603		155,603		95.0	%		95.0	%								—		54,420	Publix	$	17.67
Corkscrew Village					FL	Cape Coral-Fort Myers	1997		82,011		82,011		93.6	%		93.6	%								—		51,420	Publix	$	12.62
Courtyard Shopping Center					FL	Jacksonville	1987		137,256		137,256		100.0	%		100.0	%								62,771		62,771	(Publix), Target	$	3.17
East Port Plaza					FL	Port St. Lucie-Fort Pierce	1991		113,281		113,281		87.8	%		87.8	%								—		42,112	Publix	$	10.79
East Towne Center					FL	Orlando	2003		69,841		69,841		84.0	%		84.0	%								—		44,840	Publix	$	13.51
First Street Village					FL	Cape Coral-Fort Myers	2006		54,926		54,926		89.4	%		89.4	%								—		39,393	Publix	$	15.59
Five Corners Plaza	JV-RC		25	%	FL	Miami-Fort Lauderdale-Miami Beach	2001		44,647		11,162		88.1	%		88.1	%								—		27,887	Publix	$	13.13
Fleming Island					FL	Jacksonville	2000		136,663		136,663		68.0	%		68.0	%								129,807		47,955	Publix, (Target)	$	14.05
Garden Square					FL	Miami-Fort Lauderdale-Miami Beach	1991		90,258		90,258		95.7	%		95.7	%								—		42,112	Publix	$	14.40
Grande Oak					FL	Cape Coral-Fort Myers	2000		78,784		78,784		100.0	%		100.0	%								—		54,379	Publix	$	14.14
Hibernia Pavilion					FL	Jacksonville	2006		51,298		51,298		94.9	%		94.9	%								—		39,203	Publix	$	17.13
Hibernia Plaza					FL	Jacksonville	2006		8,400		8,400		16.7	%		16.7	%								—		—	—	$	12.60
Horton’s Corner					FL	Jacksonville	2007		14,820		14,820		100.0	%		100.0	%								—		—	—	$	25.71

Portfolio Summary Report By Region

September 30, 2010


								JVs at 100%		REG’s pro-rata share		JVs at 100%			REG’s pro-rata share			JVs at 100%			REG’s pro-rata share
Property Name	JV	REG’s Ownership %			State	CBSA	Yr Const, Last Renovation or Dev Start Yr	GLA		GLA		% Leased			% Leased			% Leased – Operating Properties			% Leased – Operating Properties			Anchor- Owned GLA		Grocery Anchor GLA		Major Tenants⁽¹⁾	Average Base Rent/ Sq. Ft⁽²⁾
Island Crossing	JV-C2		20	%	FL	Port St. Lucie-Fort Pierce	1996		58,456		11,691		100.0	%		100.0	%								—		47,955	Publix	$	10.03
John’s Creek Center	JV-C2		20	%	FL	Jacksonville	2004		75,101		15,020		90.4	%		90.4	%								—		44,840	Publix	$	12.97
Julington Village	JV-C		20	%	FL	Jacksonville	1999		81,820		16,364		100.0	%		100.0	%								—		51,420	Publix	$	14.34
Kings Crossing Sun City					FL	Tampa-St. Petersburg-Clearwater	1999		75,020		75,020		95.7	%		95.7	%								—		51,420	Publix	$	11.70
Lynnhaven	JV-O		50	%	FL	Panama City-Lynn Haven	2001		63,871		31,936		97.8	%		97.8	%								—		44,271	Publix	$	11.70
Marketplace Shopping Center					FL	Tampa-St. Petersburg-Clearwater	1983		90,296		90,296		78.7	%		78.7	%								—		—	LA Fitness	$	23.35
Martin Downs Village Center					FL	Port St. Lucie-Fort Pierce	1985		112,666		112,666		87.3	%		87.3	%								—		—	—	$	15.49
Martin Downs Village Shoppes					FL	Port St. Lucie-Fort Pierce	1998		48,937		48,937		83.4	%		83.4	%								—		—	—	$	17.97
Millhopper Shopping Center					FL	Gainesville	1974		80,421		80,421		100.0	%		100.0	%								—		37,244	Publix	$	9.39
Naples Walk Shopping Center					FL	Naples-Marco Island	1999		125,390		125,390		84.8	%		84.8	%								—		51,420	Publix	$	15.29
Newberry Square					FL	Gainesville	1986		180,524		180,524		95.5	%		95.5	%								—		39,795	Publix, K-Mart	$	7.65
Nocatee Town Center					FL	Jacksonville	2007		69,679		69,679		88.0	%		88.0	%								—		54,340	Publix	$	14.34
Northgate Square					FL	Tampa-St. Petersburg-Clearwater	1995		75,495		75,495		100.0	%		100.0	%								—		47,955	Publix	$	12.47
Oakleaf Commons					FL	Jacksonville	2006		73,717		73,717		81.0	%		81.0	%								—		45,600	Publix	$	14.02
Old St Augustine Plaza					FL	Jacksonville	1990		232,459		232,459		99.1	%		99.1	%								—		51,832	Publix, Burlington Coat Factory, Hobby Lobby	$	7.71
Pebblebrook Plaza	JV-O		50	%	FL	Naples-Marco Island	2000		76,767		38,384		100.0	%		100.0	%								—		61,166	Publix	$	13.05
Pine Tree Plaza					FL	Jacksonville	1999		63,387		63,387		96.8	%		96.8	%								—		37,866	Publix	$	11.98
Plantation Plaza	JV-C2		20	%	FL	Jacksonville	2004		77,747		15,549		89.1	%		89.1	%								—		44,840	Publix	$	15.71
Regency Square					FL	Tampa-St. Petersburg-Clearwater	1986		349,848		349,848		96.3	%		96.3	%								66,000		—	AMC Theater, Michaels, (Best Buy), (Macdill)	$	14.00
Seminole Shoppes					FL	Jacksonville	2009		78,240		78,240		88.5	%		88.5	%								—		54,340	Publix	$	17.98
Shoppes @ 104					FL	Miami-Fort Lauderdale-Miami Beach	1990		108,192		108,192		96.1	%		96.1	%								—		46,368	Winn-Dixie	$	13.74
Shoppes at Bartram Park	JV-O		50	%	FL	Jacksonville	2004		105,319		52,660		92.5	%		92.5	%								97,000		44,840	Publix, (Kohl’s)	$	16.79
Shoppes at Bartram Park Phase II	JV-O		50	%	FL	Jacksonville	2008		14,639		7,320		49.3	%		49.3	%								—		—	—	$	15.58
Shops at John’s Creek					FL	Jacksonville	2004		15,490		15,490		81.9	%		81.9	%								—		—	—	$	19.17
Starke					FL	None	2000		12,739		12,739		100.0	%		100.0	%								—		—	—	$	23.83
Suncoast Crossing Phase I					FL	Tampa-St. Petersburg-Clearwater	2007		108,434		108,434		93.2	%		93.2	%								—		—	Kohl’s	$	4.35
Suncoast Crossing Phase II					FL	Tampa-St. Petersburg-Clearwater	2008		9,451		9,451		14.8	%		14.8	%								143,055		—	(Target)	$	21.00
Town Center at Martin Downs					FL	Port St. Lucie-Fort Pierce	1996		64,546		64,546		100.0	%		100.0	%								—		56,146	Publix	$	12.38
Town Square					FL	Tampa-St. Petersburg-Clearwater	1999		44,380		44,380		100.0	%		100.0	%								—		—	—	$	26.61
Village Center					FL	Tampa-St. Petersburg-Clearwater	1993		181,110		181,110		97.3	%		97.3	%								—		36,434	Publix	$	12.91
Village Commons Shopping Center	JV-GRI		40	%	FL	Miami-Fort Lauderdale-Miami Beach	1986		169,053		67,621		81.5	%		81.5	%								—		39,975	Publix	$	17.03
Vineyard Shopping Center	JV-M3		25	%	FL	Tallahassee	2002		62,821		15,705		83.8	%		83.8	%								—		44,271	Publix	$	10.67
Welleby Plaza					FL	Miami-Fort Lauderdale-Miami Beach	1982		109,949		109,949		91.5	%		91.5	%								—		46,779	Publix	$	9.90
Wellington Town Square					FL	Miami-Fort Lauderdale-Miami Beach	1982		107,325		107,325		96.9	%		96.9	%								—		44,840	Publix	$	19.03
Westchase					FL	Tampa-St. Petersburg-Clearwater	1998		78,998		78,998		95.2	%		95.2	%								—		51,420	Publix	$	13.14
Willa Springs	JV-USAA		20	%	FL	Orlando	2000		89,930		17,986		98.3	%		98.3	%								—		44,271	Publix	$	16.11
					FL				5,433,356		4,769,562		91.8	%		92.0	%		92.6	%		92.7	%		596,798		2,070,387
Ashford Place					GA	Atlanta-Sandy Springs-Marietta	1993		53,345		53,345		59.7	%		59.7	%								—		—	—	$	19.51
Briarcliff La Vista					GA	Atlanta-Sandy Springs-Marietta	1962		39,204		39,204		100.0	%		100.0	%								—		—	—	$	16.89
Briarcliff Village					GA	Atlanta-Sandy Springs-Marietta	1990		187,156		187,156		86.2	%		86.2	%								—		43,454	Publix	$	14.44
Buckhead Court					GA	Atlanta-Sandy Springs-Marietta	1984		48,338		48,338		100.0	%		100.0	%								—		—	—	$	16.35
Cambridge Square					GA	Atlanta-Sandy Springs-Marietta	1979		71,474		71,474		99.9	%		99.9	%								—		40,852	Kroger	$	12.85
Chapel Hill Centre					GA	Atlanta-Sandy Springs-Marietta	2005		66,970		66,970		94.3	%		94.3	%								88,713		—	(Kohl’s), Hobby Lobby	$	11.26
Cromwell Square					GA	Atlanta-Sandy Springs-Marietta	1990		80,406		80,406		92.5	%		92.5	%								—		—	—	$	11.81
Delk Spectrum					GA	Atlanta-Sandy Springs-Marietta	1991		100,539		100,539		79.2	%		79.2	%								—		45,044	Publix	$	15.49
Dunwoody Hall	JV-USAA		20	%	GA	Atlanta-Sandy Springs-Marietta	1986		89,351		17,870		100.0	%		100.0	%								—		44,271	Publix	$	14.86
Dunwoody Village					GA	Atlanta-Sandy Springs-Marietta	1975		120,598		120,598		85.9	%		85.9	%								—		18,400	Fresh Market	$	17.46
Howell Mill Village					GA	Atlanta-Sandy Springs-Marietta	1984		97,990		97,990		88.7	%		88.7	%								—		31,000	Publix	$	16.64
King Plaza	JV-C2		20	%	GA	Atlanta-Sandy Springs-Marietta	1998		81,432		16,286		86.1	%		86.1	%								—		51,420	Publix	$	11.71
Loehmanns Plaza Georgia					GA	Atlanta-Sandy Springs-Marietta	1986		137,139		137,139		95.8	%		95.8	%								—		—	—	$	18.73
Lost Mountain Crossing	JV-C2		20	%	GA	Atlanta-Sandy Springs-Marietta	1994		72,568		14,514		94.7	%		94.7	%								—		47,814	Publix	$	12.64
Paces Ferry Plaza					GA	Atlanta-Sandy Springs-Marietta	1987		61,697		61,697		100.0	%		100.0	%								—		—	—	$	30.60
Powers Ferry Square					GA	Atlanta-Sandy Springs-Marietta	1987		95,703		95,703		73.9	%		73.9	%								—		—	—	$	23.05
Powers Ferry Village					GA	Atlanta-Sandy Springs-Marietta	1994		78,896		78,896		96.2	%		96.2	%								—		47,955	Publix	$	10.46
Rivermont Station					GA	Atlanta-Sandy Springs-Marietta	1996		90,267		90,267		69.7	%		69.7	%								—		58,261	Kroger	$	14.70
Russell Ridge					GA	Atlanta-Sandy Springs-Marietta	1995		98,559		98,559		92.6	%		92.6	%								—		63,296	Kroger	$	11.57
					GA				1,671,632		1,476,951		88.7	%		88.0	%		88.7	%		88.0	%		88,713		491,767
Baker Hill Center	JV-C		20	%	IL	Chicago-Naperville-Joliet	1998		135,355		27,071		97.3	%		97.3	%								—		72,397	Dominick’s	$	14.30
Brentwood Commons	JV-GRI		40	%	IL	Chicago-Naperville-Joliet	1962		125,550		50,220		99.1	%		99.1	%								—		64,762	Dominick’s	$	11.94
Carbondale Center	JV-D		16	%	IL	Carbondale	1997		59,726		9,765		100.0	%		100.0	%								—		56,726	Schnucks	$	10.20
Civic Center Plaza	JV-GRI		40	%	IL	Chicago-Naperville-Joliet	1989		264,973		105,989		98.0	%		98.0	%								—		87,135	Super H Mart, Home Depot	$	10.73
Champaign Commons	JV-D		16	%	IL	Champaign-Urbana	1990		88,105		14,405		90.7	%		90.7	%								—		72,326	Schnucks	$	8.59
Country Club Plaza	JV-D		16	%	IL	St. Louis	2001		86,867		14,203		94.4	%		94.4	%								—		54,554	Schnucks	$	6.80
Deer Grove Center	JV-C		20	%	IL	Chicago-Naperville-Joliet	1996		236,173		47,235		75.6	%		75.6	%								117,000		65,816	Dominick’s, (Target)	$	13.36
Frankfort Crossing Shpg Ctr					IL	Chicago-Naperville-Joliet	1992		114,534		114,534		87.1	%		87.1	%								—		64,937	Jewel / OSCO	$	11.77
Geneva Crossing	JV-C		20	%	IL	Chicago-Naperville-Joliet	1997		123,182		24,636		96.7	%		96.7	%								—		72,385	Dominick’s	$	14.02
Glen Oak Plaza					IL	Chicago-Naperville-Joliet	1967		62,176		62,176		97.6	%		97.6	%								—		11,944	Trader Joe’s	$	21.03

Portfolio Summary Report By Region

September 30, 2010


								JVs at 100%		REG’s pro-rata share		JVs at 100%			REG’s pro-rata share			JVs at 100%			REG’s pro-rata share
Property Name	JV	REG’s Ownership %			State	CBSA	Yr Const, Last Renovation or Dev Start Yr	GLA		GLA		% Leased			% Leased			% Leased – Operating Properties			% Leased – Operating Properties			Anchor- Owned GLA		Grocery Anchor GLA		Major Tenants⁽¹⁾	Average Base Rent/ Sq. Ft⁽²⁾
Granite City	JV-D		16	%	IL	St. Louis	2004		46,237		7,560		100.0	%		100.0	%								—		46,237	Schnucks	$	8.28
Hinsdale					IL	Chicago-Naperville-Joliet	1986		178,960		178,960		96.4	%		96.4	%								—		69,540	Dominick’s	$	12.77
McHenry Commons Shopping Center	JV-GRI		40	%	IL	Chicago-Naperville-Joliet	1988		100,526		40,210		16.6	%		16.6	%								—		—	—	$	16.29
Montvale Commons	JV-D		16	%	IL	Springfield	1996		73,937		12,089		98.1	%		98.1	%								—		62,447	Schnucks	$	10.35
Oaks Shopping Center	JV-GRI		40	%	IL	Chicago-Naperville-Joliet	1983		135,005		54,002		78.4	%		78.4	%								—		63,863	Dominick’s	$	14.68
Riverside Sq & River’s Edge	JV-GRI		40	%	IL	Chicago-Naperville-Joliet	1986		169,435		67,774		95.0	%		95.0	%								—		74,495	Dominick’s	$	14.57
Riverview Plaza	JV-GRI		40	%	IL	Chicago-Naperville-Joliet	1981		139,256		55,702		93.1	%		93.1	%								—		50,094	Dominick’s	$	10.58
Shorewood Crossing	JV-C		20	%	IL	Chicago-Naperville-Joliet	2001		87,705		17,541		96.5	%		96.5	%								—		65,977	Dominick’s	$	14.65
Shorewood Crossing II	JV-C2		20	%	IL	Chicago-Naperville-Joliet	2005		86,276		17,255		98.1	%		98.1	%								—		—	—	$	13.40
Stearns Crossing	JV-C		20	%	IL	Chicago-Naperville-Joliet	1999		96,613		19,323		94.6	%		94.6	%								—		65,613	Dominick’s	$	13.29
Stonebrook Plaza Shopping Center	JV-GRI		40	%	IL	Chicago-Naperville-Joliet	1984		95,825		38,330		100.0	%		100.0	%								—		63,000	Dominick’s	$	11.40
Swansea Plaza	JV-D		16	%	IL	St. Louis	1988		118,892		19,439		95.9	%		95.9	%								—		70,017	Schnucks	$	9.98
Urbana Crossing	JV-D		16	%	IL	Champaign-Urbana	1997		85,196		13,930		95.3	%		95.3	%								—		62,105	Schnucks	$	11.14
Westbrook Commons					IL	Chicago-Naperville-Joliet	1984		123,855		123,855		91.5	%		91.5	%								—		51,304	Dominick’s	$	10.96
					IL				2,834,359		1,136,204		90.5	%		90.6	%		90.5	%		90.6	%		117,000		1,367,674
Airport Crossing					IN	Chicago-Naperville-Joliet	2006		11,924		11,924		77.8	%		77.8	%								89,911		—	(Kohl’s)	$	16.19
Augusta Center					IN	Chicago-Naperville-Joliet	2006		14,532		14,532		85.3	%		85.3	%								213,988		—	(Menards)	$	26.54
Evansville West Center	JV-D		16	%	IN	Evansville	1989		79,885		13,061		91.9	%		91.9	%								—		62,273	Schnucks	$	8.49
Greenwood Springs					IN	Indianapolis	2004		28,028		28,028		45.1	%		45.1	%								265,798		50,000	(Gander Mountain), (Wal-Mart Supercenter)	$	19.82
Willow Lake Shopping Center	JV-GRI		40	%	IN	Indianapolis	1987		85,923		34,369		79.1	%		79.1	%								64,000		64,000	(Kroger)	$	16.90
Willow Lake West Shopping Center	JV-GRI		40	%	IN	Indianapolis	2001		52,961		21,184		100.0	%		100.0	%								—		10,028	Trader Joe’s	$	21.86
					IN				273,253		123,099		83.7	%		76.9	%		84.0	%		76.8	%		633,697		186,301
Walton Towne Center					KY	Cincinnati-Middletown	2007		23,186		23,186		81.9	%		81.9	%								116,432		116,432	(Kroger)	$	17.20
					KY				23,186		23,186		81.9	%		81.9	%		NA			NA			116,432		116,432
Shops at Saugus					MA	Boston-Cambridge-Quincy	2006		90,055		90,055		91.9	%		91.9	%								—		11,000	Trader Joe’s	$	25.29
Speedway Plaza	JV-C2		20	%	MA	Worcester	1988		185,279		37,056		100.0	%		100.0	%								—		59,970	Stop & Shop, BJ’s Warehouse	$	10.61
Twin City Plaza					MA	Boston-Cambridge-Quincy	2004		281,703		281,703		94.0	%		94.0	%								—		62,500	Shaw’s, Marshall’s	$	16.32
					MA				557,037		408,814		95.6	%		94.1	%		96.4	%		94.7	%		—		133,470
Bowie Plaza	JV-GRI		40	%	MD	Washington-Arlington-Alexandria	1966		102,904		41,162		89.3	%		89.3	%								—		—	—	$	19.35
Clinton Park	JV-C		20	%	MD	Washington-Arlington-Alexandria	2003		206,050		41,210		98.7	%		98.7	%								49,000		43,000	Giant Food, Sears, (Toys “R” Us)	$	8.80
Cloppers Mill Village	JV-GRI		40	%	MD	Washington-Arlington-Alexandria	1995		137,035		54,814		90.1	%		90.1	%								—		70,057	Shoppers Food Warehouse	$	18.45
Elkridge Corners	JV-GRI		40	%	MD	Baltimore-Towson	1990		73,529		29,412		100.0	%		100.0	%								—		39,571	Super Fresh	$	14.93
Festival at Woodholme	JV-GRI		40	%	MD	Baltimore-Towson	1986		81,016		32,406		94.1	%		94.1	%								—		10,370	Trader Joe’s	$	34.07
Firstfield Shopping Center	JV-GRI		40	%	MD	Washington-Arlington-Alexandria	1978		22,328		8,931		93.3	%		93.3	%								—		—	—	$	36.66
Goshen Plaza	JV-GRI		40	%	MD	Washington-Arlington-Alexandria	1987		45,654		18,262		90.8	%		90.8	%								—		—	—	$	19.12
King Farm Village Center	JV-RC		25	%	MD	Washington-Arlington-Alexandria	2001		118,326		29,582		96.4	%		96.4	%								—		53,754	Safeway	$	25.39
Mitchellville Plaza	JV-GRI		40	%	MD	Washington-Arlington-Alexandria	1991		156,125		62,450		83.7	%		83.7	%								—		45,100	Food Lion	$	21.84
Parkville Shopping Center	JV-GRI		40	%	MD	Baltimore-Towson	1961		162,435		64,974		96.7	%		96.7	%								—		41,223	Super Fresh	$	12.29
Southside Marketplace	JV-GRI		40	%	MD	Baltimore-Towson	1990		125,146		50,058		88.2	%		88.2	%								—		44,264	Shoppers Food Warehouse	$	15.26
Takoma Park	JV-GRI		40	%	MD	Washington-Arlington-Alexandria	1960		106,469		42,588		93.4	%		93.4	%								—		63,643	Shoppers Food Warehouse	$	10.16
Valley Centre	JV-GRI		40	%	MD	Baltimore-Towson	1987		247,837		99,135		81.6	%		81.6	%								—		—	—	$	15.01
Village at Lee Airpark					MD	Baltimore-Towson	2005		95,010		95,010		87.5	%		87.5	%								75,000		70,260	Giant Food, (Sunrise)		NA
Watkins Park Plaza	JV-GRI		40	%	MD	Washington-Arlington-Alexandria	1985		113,443		45,377		94.8	%		94.8	%								—		43,205	Safeway	$	19.31
Woodmoor Shopping Center	JV-GRI		40	%	MD	Washington-Arlington-Alexandria	1954		67,403		26,961		91.4	%		91.4	%								—		—	—	$	24.75
					MD				1,860,710		742,331		91.2	%		90.4	%		91.4	%		90.8	%		124,000		524,447
Fenton Marketplace					MI	Flint	1999		97,224		97,224		91.4	%		91.4	%								—		53,739	Farmer Jack	$	12.99
State Street Crossing					MI	Ann Arbor	2006		21,049		21,049		60.0	%		60.0	%								147,491		—	(Wal-Mart)	$	23.32
					MI				118,273		118,273		85.8	%		85.8	%		91.4	%		91.4	%		147,491		53,739
Affton Plaza	JV-D		16	%	MO	St. Louis	2000		67,760		11,079		100.0	%		100.0	%								—		61,218	Schnucks	$	6.05
Bellerive Plaza	JV-D		16	%	MO	St. Louis	2000		115,252		18,844		93.3	%		93.3	%								—		67,985	Schnucks	$	9.69
Brentwood Plaza	JV-D		16	%	MO	St. Louis	2002		60,452		9,884		96.5	%		96.5	%								—		51,800	Schnucks	$	9.68
Bridgeton	JV-D		16	%	MO	St. Louis	2005		70,762		11,570		100.0	%		100.0	%								129,802		63,482	Schnucks, (Home Depot)	$	11.92
Butler Hill Centre	JV-D		16	%	MO	St. Louis	1987		90,889		14,860		97.8	%		97.8	%								—		63,304	Schnucks	$	10.60
Capital Crossing	JV-D		16	%	MO	Jefferson City	2002		85,149		13,922		94.4	%		94.4	%								—		63,111	Schnucks	$	11.06
City Plaza	JV-D		16	%	MO	St. Louis	1998		80,149		13,104		100.0	%		100.0	%								—		62,348	Schnucks	$	9.15
Crestwood Commons	JV-D		16	%	MO	St. Louis	1994		67,285		11,001		100.0	%		100.0	%								132,463		67,285	Schnucks, (Best Buy), (Gordman’s)	$	11.79
Dardenne Crossing	JV-D		16	%	MO	St. Louis	1996		67,430		11,025		100.0	%		100.0	%								—		63,333	Schnucks	$	10.96
Dorsett Village	JV-D		16	%	MO	St. Louis	1998		104,217		17,039		100.0	%		100.0	%								35,090		59,483	Schnucks, (Orlando Gardens Banquet Center)	$	11.84
Kirkwood Commons	JV-D		16	%	MO	St. Louis	2000		467,703		76,469		100.0	%		100.0	%								258,000		—	Wal-Mart, (Target), (Lowe’s)	$	9.50
Lake St. Louis	JV-D		16	%	MO	St. Louis	2004		75,643		12,368		96.3	%		96.3	%								—		63,187	Schnucks	$	12.56
O’Fallon Centre	JV-D		16	%	MO	St. Louis	1984		71,300		11,658		89.0	%		89.0	%								—		55,050	Schnucks	$	8.16
Plaza 94	JV-D		16	%	MO	St. Louis	2005		66,555		10,882		93.6	%		93.6	%								—		52,844	Schnucks	$	9.50
Richardson Crossing	JV-D		16	%	MO	St. Louis	2000		82,994		13,570		97.1	%		97.1	%								—		61,494	Schnucks	$	12.05
Shackelford Center	JV-D		16	%	MO	St. Louis	2006		49,635		8,115		95.8	%		95.8	%								—		45,960	Schnucks	$	7.26
Sierra Vista Plaza	JV-D		16	%	MO	St. Louis	1993		74,666		12,208		98.4	%		98.4	%								—		56,201	Schnucks	$	10.10
Twin Oaks	JV-D		16	%	MO	St. Louis	2006		71,682		11,720		98.0	%		98.0	%								—		63,482	Schnucks	$	11.98
University City Square	JV-D		16	%	MO	St. Louis	1997		79,230		12,954		100.0	%		100.0	%								—		61,600	Schnucks	$	9.26
Washington Crossing	JV-D		16	%	MO	St. Louis	1999		117,626		19,232		97.1	%		97.1	%								—		56,250	Schnucks	$	10.91

Portfolio Summary Report By Region

September 30, 2010


								JVs at 100%		REG’s pro-rata share		JVs at 100%			REG’s pro-rata share			JVs at 100%			REG’s pro-rata share
Property Name	JV	REG’s Ownership %			State	CBSA	Yr Const, Last Renovation or Dev Start Yr	GLA		GLA		% Leased			% Leased			% Leased – Operating Properties			% Leased – Operating Properties			Anchor- Owned GLA		Grocery Anchor GLA		Major Tenants⁽¹⁾	Average Base Rent/ Sq. Ft⁽²⁾
Wentzville Commons	JV-D		16	%	MO	St. Louis	2000		74,205		12,133		100.0	%		100.0	%								106,086		61,860	Schnucks, (Home Depot)	$	11.13
Wildwood Crossing	JV-D		16	%	MO	St. Louis	1997		108,200		17,691		74.4	%		74.4	%								—		61,500	Schnucks	$	11.71
Zumbehl Commons	JV-D		16	%	MO	St. Louis	1990		116,682		19,078		95.7	%		95.7	%								—		74,672	Schnucks	$	8.76
					MO				2,265,466		370,404		96.7	%		96.7	%		96.7	%		96.7	%		661,441		1,337,449
Apple Valley Square	JV-RC		25	%	MN	Minneapolis-St. Paul-Bloomington	1998		184,841		46,210		100.0	%		100.0	%								87,437		61,736	Rainbow Foods, Jo-Ann Fabrics, (Burlington Coat Factory)	$	11.11
Colonial Square	JV-GRI		40	%	MN	Minneapolis-St. Paul-Bloomington	1959		93,200		37,280		100.0	%		100.0	%								—		43,978	Lund’s	$	16.96
Rockford Road Plaza	JV-GRI		40	%	MN	Minneapolis-St. Paul-Bloomington	1991		205,479		82,192		93.9	%		93.9	%								—		65,608	Rainbow Foods	$	12.31
					MN				483,520		165,682		97.4	%		97.0	%		97.4	%		97.0	%		87,437		171,322
Cameron Village	JV-CCV		30	%	NC	Raleigh-Cary	1949		554,767		166,430		95.8	%		95.8	%								—		79,830	Harris Teeter, Fresh Market	$	16.51
Carmel Commons					NC	Charlotte-Gastonia-Concord	1979		132,651		132,651		91.7	%		91.7	%								—		14,300	Fresh Market	$	15.65
Cochran Commons	JV-C2		20	%	NC	Charlotte-Gastonia-Concord	2003		66,020		13,204		91.6	%		91.6	%								—		41,500	Harris Teeter	$	14.21
Colonnade Center					NC	Raleigh-Cary	2009		57,511		57,511		69.6	%		69.6	%								—		40,000	Whole Foods		NA
Fuquay Crossing	JV-RC		25	%	NC	Raleigh-Cary	2002		124,774		31,194		94.6	%		94.6	%								—		46,478	Kroger	$	9.84
Garner Towne Square					NC	Raleigh-Cary	1998		221,776		221,776		95.2	%		95.2	%								273,000		57,590	Kroger, (Home Depot), (Target)	$	12.63
Glenwood Village					NC	Raleigh-Cary	1983		42,864		42,864		100.0	%		100.0	%								—		27,764	Harris Teeter	$	13.80
Harris Crossing					NC	Raleigh-Cary	2007		65,517		65,517		84.9	%		84.9	%								—		53,365	Harris Teeter		NA
Lake Pine Plaza					NC	Raleigh-Cary	1997		87,690		87,690		89.6	%		89.6	%								—		57,590	Kroger	$	11.07
Maynard Crossing	JV-USAA		20	%	NC	Raleigh-Cary	1997		122,782		24,556		92.0	%		92.0	%								—		55,973	Kroger	$	14.74
Providence Commons	JV-RC		25	%	NC	Charlotte-Gastonia-Concord	1994		197,801		49,450		100.0	%		100.0	%								—		50,420	Lowes	$	15.11
Middle Creek Commons					NC	Raleigh-Cary	2006		73,634		73,634		92.7	%		92.7	%								—		49,495	Lowes Foods	$	14.63
Shoppes of Kildaire	JV-GRI		40	%	NC	Raleigh-Cary	1986		148,204		59,282		97.8	%		97.8	%								—		18,613	Trader Joe’s	$	15.05
Southpoint Crossing					NC	Durham	1998		103,128		103,128		96.4	%		96.4	%								—		59,160	Kroger	$	15.70
Sutton Square	JV-C2		20	%	NC	Raleigh-Cary	1985		101,024		20,205		82.3	%		82.3	%								—		24,167	Fresh Market	$	14.86
Woodcroft Shopping Center					NC	Durham	1984		89,833		89,833		95.4	%		95.4	%								—		40,832	Food Lion	$	12.32
					NC				2,189,976		1,238,925		93.7	%		92.9	%		94.7	%		94.7	%		273,000		717,077
Plaza Square	JV-GRI		40	%	NJ	New York-Northern New Jersey-Long Island	1990		103,842		41,537		94.1	%		94.1	%								—		60,000	Shop Rite	$	21.69
Haddon Commons	JV-GRI		40	%	NJ	Philadelphia-Camden-Wilmington	1985		52,640		21,056		93.4	%		93.4	%								—		34,240	Acme Markets	$	5.56
					NJ				156,482		62,593		93.8	%		93.8	%		93.8	%		93.8	%		—		94,240
Anthem Highlands Shopping Center					NV	Las Vegas-Paradise	2004		108,515		108,515		80.6	%		80.6	%								—		53,963	Albertsons	$	13.02
Deer Springs Town Center					NV	Las Vegas-Paradise	2007		330,952		330,952		79.2	%		79.2	%								132,360		—	(Target), Home Depot, Toys “R” Us	$	12.70
					NV				439,467		439,467		79.5	%		79.5	%		80.6	%		80.6	%		132,360		53,963
Beckett Commons					OH	Cincinnati-Middletown	1995		121,498		121,498		73.3	%		73.3	%								—		70,815	Kroger	$	11.09
Cherry Grove					OH	Cincinnati-Middletown	1997		195,513		195,513		98.0	%		98.0	%								—		66,336	Kroger	$	10.00
East Pointe					OH	Columbus	1993		86,503		86,503		100.0	%		100.0	%								—		59,120	Kroger	$	10.72
Hyde Park					OH	Cincinnati-Middletown	1995		396,861		396,861		97.7	%		97.7	%								—		169,267	Kroger, Biggs	$	13.87
Indian Springs Market Center	JV-RRP		20	%	OH	Cincinnati-Middletown	2005		146,116		29,223		100.0	%		100.0	%								203,000		—	Kohl’s, (Wal-Mart Supercenter)	$	5.09
Kroger New Albany Center					OH	Columbus	1999		93,286		93,286		91.8	%		91.8	%								—		63,805	Kroger	$	11.15
Maxtown Road (Northgate)					OH	Columbus	1996		85,100		85,100		98.4	%		98.4	%								90,000		62,000	Kroger, (Home Depot)	$	10.79
Park Place Shopping Center					OH	Columbus	1988		106,832		106,832		61.2	%		61.2	%								—		—	—	$	9.20
Red Bank Village					OH	Cincinnati-Middletown	2006		164,317		164,317		96.5	%		96.5	%								—		—	Wal-Mart	$	5.66
Regency Commons					OH	Cincinnati-Middletown	2004		30,770		30,770		80.5	%		80.5	%								—		—	—	$	23.15
Shoppes at Mason					OH	Cincinnati-Middletown	1997		80,800		80,800		100.0	%		100.0	%								—		56,800	Kroger	$	9.97
Sycamore Crossing & Sycamore Plaza	JV-RRP		20	%	OH	Cincinnati-Middletown	1966		390,957		78,191		88.4	%		88.4	%								—		25,723	Fresh Market, Macy’s Furniture Gallery, Toys ‘R Us, Dick’s Sporting Goods	$	16.63
Wadsworth Crossing					OH	Cleveland-Elyria-Mentor	2005		108,167		108,167		88.7	%		88.7	%								366,722		—	(Kohl’s), (Lowe’s), (Target)	$	13.89
Westchester Plaza					OH	Cincinnati-Middletown	1988		88,181		88,181		98.4	%		98.4	%								—		66,523	Kroger	$	9.74
Windmiller Plaza Phase I					OH	Columbus	1997		140,437		140,437		98.5	%		98.5	%								—		101,428	Kroger	$	8.55
					OH				2,235,338		1,805,680		92.5	%		92.7	%		92.5	%		92.7	%		659,722		741,817
Corvallis Market Center					OR	Corvallis	2006		84,548		84,548		100.0	%		100.0	%								—		12,017	Trader Joe’s	$	18.45
Greenway Town Center	JV-GRI		40	%	OR	Portland-Vancouver-Beaverton	1979		93,101		37,240		95.9	%		95.9	%								—		37,500	Lamb’s Thriftway	$	12.76
Murrayhill Marketplace					OR	Portland-Vancouver-Beaverton	1988		148,967		148,967		89.2	%		89.2	%								—		41,132	Safeway	$	14.36
Sherwood Crossroads					OR	Portland-Vancouver-Beaverton	1999		87,966		87,966		93.3	%		93.3	%								—		55,227	Safeway	$	10.32
Sherwood Market Center					OR	Portland-Vancouver-Beaverton	1995		124,259		124,259		97.8	%		97.8	%								—		49,793	Albertsons	$	17.24
Sunnyside 205					OR	Portland-Vancouver-Beaverton	1988		52,710		52,710		98.4	%		98.4	%								—		—	—	$	23.07
Tanasbourne Market					OR	Portland-Vancouver-Beaverton	2006		71,000		71,000		97.3	%		97.3	%								—		56,500	Whole Foods	$	24.81
Walker Center					OR	Portland-Vancouver-Beaverton	1987		89,610		89,610		100.0	%		100.0	%								—		—	Sports Authority	$	16.99
					OR				752,161		696,300		95.8	%		95.8	%		95.8	%		95.8	%		—		252,169
Allen Street Shopping Center	JV-GRI		40	%	PA	Allentown-Bethlehem-Easton	1958		46,228		18,491		96.7	%		96.7	%								—		22,075	Ahart Market	$	12.72
City Avenue Shopping Center	JV-GRI		40	%	PA	Philadelphia-Camden-Wilmington	1960		159,095		63,638		95.7	%		95.7	%								—		—	—	$	17.61
Gateway Shopping Center					PA	Philadelphia-Camden-Wilmington	1960		219,257		219,257		93.3	%		93.3	%								—		11,100	Trader Joe’s	$	23.81
Hershey					PA	Harrisburg-Carlisle	2000		6,000		6,000		100.0	%		100.0	%								—		—	—	$	27.64
Kulpsville Village Center					PA	Philadelphia-Camden-Wilmington	2006		14,820		14,820		100.0	%		100.0	%								—		—	—	$	30.36
Lower Nazareth Commons					PA	Allentown-Bethlehem-Easton	2007		65,367		65,367		93.3	%		93.3	%								133,000		—	(Target), Sports Authority	$	25.75
Mayfair Shopping Center	JV-GRI		40	%	PA	Philadelphia-Camden-Wilmington	1988		112,276		44,910		87.1	%		87.1	%								—		25,673	Shop ‘N Bag	$	15.74

Portfolio Summary Report By Region

September 30, 2010


								JVs at 100%		REG’s pro-rata share		JVs at 100%			REG’s pro-rata share			JVs at 100%			REG’s pro-rata share
Property Name	JV	REG’s Ownership %			State	CBSA	Yr Const, Last Renovation or Dev Start Yr	GLA		GLA		% Leased			% Leased			% Leased – Operating Properties			% Leased – Operating Properties			Anchor- Owned GLA		Grocery Anchor GLA		Major Tenants⁽¹⁾	Average Base Rent/ Sq. Ft⁽²⁾
Mercer Square Shopping Center	JV-GRI		40	%	PA	Philadelphia-Camden-Wilmington	1988		91,400		36,560		92.1	%		92.1	%								—		50,708	Genuardi’s	$	19.56
Newtown Square Shopping Center	JV-GRI		40	%	PA	Philadelphia-Camden-Wilmington	1970		146,959		58,784		92.8	%		92.8	%								—		56,226	Acme Markets	$	14.79
Silver Spring Square	JV-RRP		20	%	PA	Harrisburg-Carlisle	2005		314,449		62,890		95.4	%		95.4	%								139,377		130,000	Wegmans, (Target)	$	14.87
Stefko Boulevard Shopping Center	JV-GRI		40	%	PA	Allentown-Bethlehem-Easton	1976		133,824		53,530		89.9	%		89.9	%								—		73,000	Valley Farm Market	$	6.99
Warwick Square Shopping Center	JV-GRI		40	%	PA	Philadelphia-Camden-Wilmington	1999		89,680		35,872		90.5	%		90.5	%								—		50,658	Genuardi’s	$	18.17
					PA				1,399,355		680,119		93.1	%		93.1	%		93.1	%		93.1	%		272,377		419,440
Buckwalter Village					SC	Hilton Head Island-Beaufort	2006		59,601		59,601		95.3	%		95.3	%								—		45,600	Publix	$	14.04
Merchants Village	JV-GRI		40	%	SC	Charleston-North Charleston	1997		79,724		31,890		97.0	%		97.0	%								—		37,888	Publix	$	13.74
Murray Landing	JV-M3		25	%	SC	Columbia	2003		64,359		16,090		97.8	%		97.8	%								—		44,840	Publix	$	12.38
Orangeburg					SC	Charleston-North Charleston	2006		14,820		14,820		100.0	%		100.0	%								—		—	—	$	23.01
Queensborough Shopping Center	JV-O		50	%	SC	Charleston-North Charleston	1993		82,333		41,167		95.9	%		95.9	%								—		65,796	Publix	$	9.81
Surfside Beach Commons	JV-C2		20	%	SC	Myrtle Beach-Conway-North Myrtle Beach	1999		59,881		11,976		94.7	%		94.7	%								—		46,624	Bi-Lo	$	11.93
					SC				360,718		175,543		96.3	%		96.3	%		96.3	%		96.3	%		—		240,748
Collierville Crossing	JV-D		16	%	TN	Memphis	2004		86,065		14,072		94.8	%		94.8	%								125,500		63,193	Schnucks, (Target)	$	12.36
Dickson Tn					TN	Nashville-Davidson--Murfreesboro	1998		10,908		10,908		100.0	%		100.0	%								—		—	—	$	20.35
Harpeth Village Fieldstone					TN	Nashville-Davidson--Murfreesboro	1998		70,091		70,091		100.0	%		100.0	%								—		55,377	Publix	$	13.60
Lebanon Center					TN	Nashville-Davidson--Murfreesboro	2006		63,800		63,800		89.0	%		89.0	%								—		45,600	Publix	$	12.17
Nashboro Village					TN	Nashville-Davidson--Murfreesboro	1998		86,811		86,811		95.2	%		95.2	%								—		61,224	Kroger	$	10.56
Northlake Village					TN	Nashville-Davidson--Murfreesboro	1988		137,807		137,807		88.7	%		88.7	%								—		64,537	Kroger	$	11.72
Peartree Village					TN	Nashville-Davidson--Murfreesboro	1997		109,904		109,904		90.9	%		90.9	%								—		60,647	Harris Teeter	$	17.31
					TN				565,386		493,393		92.7	%		92.4	%		92.7	%		92.4	%		125,500		350,578
Alden Bridge	JV-USAA		20	%	TX	Houston-Baytown-Sugar Land	1998		138,953		27,791		94.5	%		94.5	%								—		67,768	Kroger	$	17.15
Atascocita Center					TX	Houston-Baytown-Sugar Land	2003		97,240		97,240		96.1	%		96.1	%								—		65,740	Kroger	$	9.97
Bethany Park Place	JV-USAA		20	%	TX	Dallas-Fort Worth-Arlington	1998		98,906		19,781		96.6	%		96.6	%								—		83,214	Kroger	$	11.16
Cochran’s Crossing					TX	Houston-Baytown-Sugar Land	1994		138,192		138,192		92.3	%		92.3	%								—		63,449	Kroger	$	15.78
Cooper Street					TX	Dallas-Fort Worth-Arlington	1992		127,696		127,696		88.3	%		88.3	%								102,950		—	(Home Depot)	$	10.44
Fort Bend Center					TX	Houston-Baytown-Sugar Land	2000		30,164		30,164		87.5	%		87.5	%								67,106		67,106	(Kroger)	$	16.82
Hancock					TX	Austin-Round Rock	1998		410,438		410,438		94.2	%		94.2	%								—		90,217	H.E.B., Sears	$	12.73
Hickory Creek Plaza					TX	Dallas-Fort Worth-Arlington	2006		28,134		28,134		68.4	%		68.4	%								81,264		81,264	(Kroger)	$	20.83
Hillcrest Village					TX	Dallas-Fort Worth-Arlington	1991		14,530		14,530		100.0	%		100.0	%								—		—	—	$	33.92
Indian Springs Center	JV-O		50	%	TX	Houston-Baytown-Sugar Land	2003		136,625		68,313		96.7	%		96.7	%								—		79,000	H.E.B.	$	18.92
Keller Town Center					TX	Dallas-Fort Worth-Arlington	1999		114,937		114,937		95.2	%		95.2	%								—		63,631	Tom Thumb	$	14.70
Kleinwood Center	JV-M3		25	%	TX	Houston-Baytown-Sugar Land	2003		148,964		37,241		81.2	%		81.2	%								—		80,925	H.E.B.	$	15.92
Lebanon/Legacy Center					TX	Dallas-Fort Worth-Arlington	2002		56,674		56,674		76.5	%		76.5	%								62,804		62,804	(Albertsons)	$	22.86
Main Street Center	JV-GRI		40	%	TX	Dallas-Fort Worth-Arlington	2002		42,754		17,102		54.7	%		54.7	%								62,322		62,322	(Albertsons)	$	21.05
Market at Preston Forest					TX	Dallas-Fort Worth-Arlington	1990		96,353		96,353		97.4	%		97.4	%								—		64,228	Tom Thumb	$	18.02
Market at Round Rock					TX	Austin-Round Rock	1987		122,646		122,646		63.5	%		63.5	%								—		29,523	Sprout’s Markets	$	17.63
Mockingbird Common					TX	Dallas-Fort Worth-Arlington	1987		120,321		120,321		98.8	%		98.8	%								—		48,525	Tom Thumb	$	15.71
North Hills					TX	Austin-Round Rock	1995		144,020		144,020		98.5	%		98.5	%								—		60,465	H.E.B.	$	20.29
Panther Creek					TX	Houston-Baytown-Sugar Land	1994		166,076		166,076		100.0	%		100.0	%								—		65,800	Randall’s Food	$	16.53
Preston Park					TX	Dallas-Fort Worth-Arlington	1985		239,333		239,333		89.9	%		89.9	%								—		53,118	Tom Thumb	$	24.01
Prestonbrook					TX	Dallas-Fort Worth-Arlington	1998		91,537		91,537		93.5	%		93.5	%								—		63,636	Kroger	$	13.22
Prestonwood Park					TX	Dallas-Fort Worth-Arlington	1999		101,167		101,167		58.0	%		58.0	%								62,322		62,322	(Albertsons)	$	20.23
Rockwall Town Center					TX	Dallas-Fort Worth-Arlington	2004		46,095		46,095		100.0	%		100.0	%								73,770		57,017	(Kroger)	$	23.02
Shiloh Springs	JV-USAA		20	%	TX	Dallas-Fort Worth-Arlington	1998		110,040		22,008		83.6	%		83.6	%								—		60,932	Kroger	$	13.72
Shops at Highland Village					TX	Dallas-Fort Worth-Arlington	2005		351,635		351,635		81.5	%		81.5	%								—		—	AMC Theater	$	23.80
Signature Plaza					TX	Dallas-Fort Worth-Arlington	2004		32,415		32,415		75.9	%		75.9	%								61,962		61,962	(Kroger)	$	20.46
Sterling Ridge					TX	Houston-Baytown-Sugar Land	2000		128,643		128,643		100.0	%		100.0	%								—		63,373	Kroger	$	17.92
Sweetwater Plaza	JV-C		20	%	TX	Houston-Baytown-Sugar Land	2000		134,045		26,809		94.1	%		94.1	%								—		65,241	Kroger	$	16.11
Trophy Club					TX	Dallas-Fort Worth-Arlington	1999		106,507		106,507		90.8	%		90.8	%								—		63,654	Tom Thumb	$	12.90
Waterside Marketplace					TX	Houston-Baytown-Sugar Land	2007		24,858		24,858		92.5	%		92.5	%								102,984		102,984	(Kroger)	$	22.93
Weslayan Plaza East	JV-GRI		40	%	TX	Houston-Baytown-Sugar Land	1969		169,693		67,877		98.3	%		98.3	%								—		—	—	$	13.05
Weslayan Plaza West	JV-GRI		40	%	TX	Houston-Baytown-Sugar Land	1969		185,964		74,386		100.0	%		100.0	%								—		51,960	Randall’s Food	$	16.54
Westwood Village					TX	Houston-Baytown-Sugar Land	2006		183,522		183,522		93.8	%		93.8	%								126,874		—	(Target)	$	15.92
Woodway Collection	JV-GRI		40	%	TX	Houston-Baytown-Sugar Land	1974		111,165		44,466		82.3	%		82.3	%								—		56,596	Randall’s Food	$	15.45
					TX				4,250,242		3,378,906		90.2	%		90.0	%		90.2	%		90.0	%		804,358		1,898,776
601 King Street	JV-GRI		40	%	VA	Washington-Arlington-Alexandria	1980		8,003		3,201		87.3	%		87.3	%								—		—	—	$	47.04
Ashburn Farm Market Center					VA	Washington-Arlington-Alexandria	2000		91,905		91,905		97.2	%		97.2	%								—		48,999	Giant Food	$	21.01
Ashburn Farm Village Center	JV-GRI		40	%	VA	Washington-Arlington-Alexandria	1996		88,897		35,559		89.3	%		89.3	%								—		57,030	Shoppers Food Warehouse	$	13.19
Braemar Shopping Center	JV-RC		25	%	VA	Washington-Arlington-Alexandria	2004		96,439		24,110		94.8	%		94.8	%								—		57,860	Safeway	$	17.13
Centre Ridge Marketplace	JV-GRI		40	%	VA	Washington-Arlington-Alexandria	1996		104,100		41,640		94.5	%		94.5	%								—		55,138	Shoppers Food Warehouse	$	16.04
Cheshire Station					VA	Washington-Arlington-Alexandria	2000		97,156		97,156		100.0	%		100.0	%								—		55,163	Safeway	$	16.64
Culpeper Colonnade					VA	Culpeper	2006		131,707		131,707		96.1	%		96.1	%								127,307		68,421	Martin’s, (Target)	$	14.04
Fairfax Shopping Center					VA	Washington-Arlington-Alexandria	1955		78,111		78,111		78.9	%		78.9	%								—		—	—	$	13.64
Festival at Manchester Lakes	JV-GRI		40	%	VA	Washington-Arlington-Alexandria	1990		165,130		66,052		96.4	%		96.4	%								—		65,000	Shoppers Food Warehouse	$	22.50

Portfolio Summary Report By Region

September 30, 2010


								JVs at 100%		REG’s pro-rata share		JVs at 100%			REG’s pro-rata share			JVs at 100%			REG’s pro-rata share
Property Name	JV	REG’s Ownership %			State	CBSA	Yr Const, Last Renovation or Dev Start Yr	GLA		GLA		% Leased			% Leased			% Leased – Operating Properties			% Leased – Operating Properties			Anchor- Owned GLA		Grocery Anchor GLA		Major Tenants⁽¹⁾	Average Base Rent/ Sq. Ft⁽²⁾
Fortuna Center Plaza	JV-RRP		20	%	VA	Washington-Arlington-Alexandria	2004		104,694		20,939		100.0	%		100.0	%								123,735		66,870	Shoppers Food Warehouse, (Target)	$	14.65
Fox Mill Shopping Center	JV-GRI		40	%	VA	Washington-Arlington-Alexandria	1977		103,269		41,308		96.1	%		96.1	%								—		49,837	Giant Food	$	20.70
Gayton Crossing	JV-GRI		40	%	VA	Richmond	1983		156,917		62,767		92.6	%		92.6	%								—		38,408	Ukrop’s	$	13.11
Greenbriar Town Center	JV-GRI		40	%	VA	Washington-Arlington-Alexandria	1972		340,006		136,002		97.3	%		97.3	%								—		62,319	Giant Food	$	21.12
Hanover Village Shopping Center	JV-GRI		40	%	VA	Richmond	1971		93,146		37,258		84.2	%		84.2	%								—		—	—	$	9.50
Hollymead Town Center	JV-C2		20	%	VA	Charlottesville	2004		153,739		30,748		98.8	%		98.8	%								142,500		60,607	Harris Teeter, (Target)	$	19.80
Kamp Washington Shopping Center	JV-GRI		40	%	VA	Washington-Arlington-Alexandria	1960		71,825		28,730		95.8	%		95.8	%								—		—	—	$	32.77
Kings Park Shopping Center	JV-GRI		40	%	VA	Washington-Arlington-Alexandria	1966		74,702		29,881		95.6	%		95.6	%								—		28,161	Giant Food	$	23.30
Lorton Station Marketplace	JV-C2		20	%	VA	Washington-Arlington-Alexandria	2005		132,445		26,489		100.0	%		100.0	%								—		63,000	Shoppers Food Warehouse	$	18.96
Lorton Town Center	JV-C2		20	%	VA	Washington-Arlington-Alexandria	2005		51,807		10,361		85.0	%		85.0	%								—		—	—	$	27.26
Market at Opitz Crossing					VA	Washington-Arlington-Alexandria	2003		149,791		149,791		89.6	%		89.6	%								—		51,922	Safeway	$	14.32
Saratoga Shopping Center	JV-GRI		40	%	VA	Washington-Arlington-Alexandria	1977		113,013		45,205		100.0	%		100.0	%								—		55,713	Giant Food	$	16.25
Shops at County Center					VA	Washington-Arlington-Alexandria	2005		96,695		96,695		96.9	%		96.9	%								—		52,409	Harris Teeter	$	19.57
Signal Hill	JV-C2		20	%	VA	Washington-Arlington-Alexandria	2004		95,172		19,034		100.0	%		100.0	%								—		67,470	Shoppers Food Warehouse	$	19.09
Stonewall					VA	Washington-Arlington-Alexandria	2007		267,175		267,175		96.2	%		96.2	%								—		140,000	Wegmans	$	12.76
Town Center at Sterling Shopping Center	JV-GRI		40	%	VA	Washington-Arlington-Alexandria	1980		190,069		76,028		88.3	%		88.3	%								—		46,935	Giant Food	$	17.13
Village Center at Dulles	JV-C		20	%	VA	Washington-Arlington-Alexandria	1991		298,271		59,654		94.2	%		94.2	%								—		48,424	Shoppers Food Warehouse, Gold's Gym	$	21.07
Village Shopping Center	JV-GRI		40	%	VA	Richmond	1948		111,177		44,471		99.4	%		99.4	%								—		45,023	Ukrop’s	$	18.24
Willston Centre I	JV-GRI		40	%	VA	Washington-Arlington-Alexandria	1952		105,376		42,150		92.6	%		92.6	%								—		—	—	$	21.53
Willston Centre II	JV-GRI		40	%	VA	Washington-Arlington-Alexandria	1986		127,449		50,980		94.2	%		94.2	%								140,984		42,491	Safeway, (Target)	$	18.65
					VA				3,698,186		1,845,107		94.8	%		94.5	%		94.8	%		94.5	%		534,526		1,327,200
Aurora Marketplace	JV-GRI		40	%	WA	Seattle-Tacoma-Bellevue	1991		106,921		42,768		95.9	%		95.9	%								—		48,893	Safeway	$	14.66
Cascade Plaza	JV-C		20	%	WA	Seattle-Tacoma-Bellevue	1999		211,072		42,214		94.2	%		94.2	%								—		49,440	Safeway	$	10.38
Eastgate Plaza	JV-GRI		40	%	WA	Seattle-Tacoma-Bellevue	1956		78,230		31,292		100.0	%		100.0	%								—		28,775	Albertsons	$	20.96
Inglewood Plaza					WA	Seattle-Tacoma-Bellevue	1985		17,253		17,253		100.0	%		100.0	%								—		—	—	$	29.18
Orchards Market Center I	JV-RRP		20	%	WA	Portland-Vancouver-Beaverton	2004		100,663		20,133		100.0	%		100.0	%								—		—	Wholesale Sports	$	12.75
Orchards Market Center II					WA	Portland-Vancouver-Beaverton	2005		77,478		77,478		87.3	%		87.3	%								—		—	LA Fitness	$	17.79
Overlake Fashion Plaza	JV-GRI		40	%	WA	Seattle-Tacoma-Bellevue	1987		80,555		32,222		96.9	%		96.9	%								230,300		—	(Sears)	$	21.70
Pine Lake Village					WA	Seattle-Tacoma-Bellevue	1989		102,899		102,899		100.0	%		100.0	%								—		40,982	Quality Foods	$	19.96
Sammamish-Highlands					WA	Seattle-Tacoma-Bellevue	1992		101,289		101,289		95.5	%		95.5	%								55,000		55,000	(Safeway)	$	23.92
Southcenter					WA	Seattle-Tacoma-Bellevue	1990		58,282		58,282		87.3	%		87.3	%								111,900		—	(Target)	$	28.73
Thomas Lake					WA	Seattle-Tacoma-Bellevue	1998		103,872		103,872		94.1	%		94.1	%								—		50,065	Albertsons	$	14.74
					WA				1,038,514		629,702		95.5	%		94.7	%		95.5	%		94.7	%		397,200		273,155
Racine Centre Shopping Center	JV-GRI		40	%	WI	Racine	1988		135,827		54,331		98.2	%		98.2	%								—		50,979	Piggly Wiggly	$	7.13
Whitnall Square Shopping Center	JV-GRI		40	%	WI	Milwaukee-Waukesha-West Allis	1989		133,301		53,320		90.0	%		90.0	%								—		69,090	Pick ‘N’ Save	$	7.67
					WI				269,128		107,651		94.2	%		94.2	%		94.2	%		94.2	%		—		120,069

Regency Centers Total									45,053,264		29,662,913		92.5	%		91.9	%		93.2	%		92.8	%		8,069,817		17,389,909

(1) Major Tenants are the grocer anchor and any tenant over 40,000 square feet. Tenants in parenthesis own their own GLA.

(2) Average Base Rent/Sq. Ft. does not include ground leases.


JV-C:		Co-investment Partnership with Oregon
JV-C2:		Co-investment Partnership with Oregon
JV-CCV:		Co-investment Partnership with Oregon
JV-D:		Co-investment Partnership with DESCO and Charter Hall Retail REIT (formerly Macquarie CountryWide)
JV-GRI:		Co-investment Partnership with GRI
JV-M3:		Co-investment Partnership with Charter Hall Retail REIT (formerly Macquarie CountryWide)
JV-O:		Other, single property Co-investment Partnerships
JV-RC:		Co-investment Partnership with CalSTRS
JV-RRP:		Regency Retail Partners (open-end fund)
JV-USAA:		Co-investment Partnership with USAA

Properties managed by Regency, but not owned


Ocala Corners	FL	Tallahassee	86,772
Northlake Promenade	GA	Atlanta-Sandy Springs-Marietta	25,394
Powers Ferry Kroger	GA	Atlanta-Sandy Springs-Marietta	45,528
Lindbergh Crossing	GA	Atlanta-Sandy Springs-Marietta	27,059
Roswell Crossing	GA	Atlanta-Sandy Springs-Marietta	201,979
Trowbridge Crossing	GA	Atlanta-Sandy Springs-Marietta	62,558
Woodstock Crossing	GA	Atlanta-Sandy Springs-Marietta	66,122
Franklin Square	KY	Frankfort	203,317
Centennial Crossroads Plaza	NV	Las Vegas-Paradise	99,064
Regency Milford Center	OH	Cincinnati-Middletown	108,923
Hillsboro Market Center	OR	Portland-Vancouver-Beaverton	148,051
Cherry Park Market	OR	Portland-Vancouver-Beaverton	113,518


Total square footage managed by Regency, but not owned			1,188,285

Significant Tenant Rents - Wholly Owned and Regency’s Pro-Rata Share of Co-investment Partnerships

September 30, 2010


Tenant	Tenant GLA⁽¹⁾		% of Company- Owned GLA⁽¹⁾			Total Annualized Base Rent⁽²⁾		% of Total Annualized Base Rent⁽²⁾			Total # of Leased Stores - 100% Owned and JV		# of Leased Stores in JV
Kroger		2,214,101		7.7	%	$	20,461,521		4.6	%		45		13
Publix		2,026,203		7.0	%		19,435,322		4.4	%		56		19
Safeway		1,736,204		6.0	%		17,284,028		3.9	%		54		30
Supervalu		965,485		3.4	%		11,213,881		2.5	%		28		15
CVS		517,682		1.8	%		7,296,764		1.7	%		50		24
TJX Companies		469,986		1.6	%		5,115,577		1.2	%		24		11
Blockbuster Video		223,497		0.8	%		4,939,749		1.1	%		58		23
Whole Foods		139,419		0.5	%		4,116,298		0.9	%		5		2
Ross Dress For Less		266,607		0.9	%		4,008,984		0.9	%		16		10
Starbucks		102,095		0.4	%		3,485,549		0.8	%		86		34
Wells Fargo Bank		69,379		0.2	%		3,468,530		0.8	%		45		29
Sports Authority		181,523		0.6	%		3,458,514		0.8	%		5		1
PETCO		182,874		0.6	%		3,441,915		0.8	%		21		11
Sears Holdings		442,433		1.5	%		3,379,516		0.8	%		11		5
Walgreens		189,376		0.7	%		3,341,431		0.8	%		16		4
Rite Aid		227,758		0.8	%		3,209,845		0.7	%		26		15
Ahold		278,445		1.0	%		3,167,987		0.7	%		12		10
Bank of America		77,429		0.3	%		3,141,711		0.7	%		28		12
PetSmart		178,850		0.6	%		2,917,244		0.7	%		10		4
Subway		100,996		0.4	%		2,893,954		0.7	%		114		53
Target		349,683		1.2	%		2,861,943		0.6	%		4		2
H.E.B.		210,413		0.7	%		2,771,745		0.6	%		4		2
Schnucks		308,578		1.1	%		2,687,565		0.6	%		31		31
The UPS Store		98,755		0.3	%		2,540,630		0.6	%		98		41
Harris Teeter		192,746		0.7	%		2,465,032		0.6	%		7		4
JPMorgan Chase Bank		61,213		0.2	%		2,369,695		0.5	%		23		6
Hallmark		136,838		0.5	%		2,360,383		0.5	%		47		26
Michael’s		194,825		0.7	%		2,325,981		0.5	%		12		4
Trader Joe’s		89,994		0.3	%		2,247,056		0.5	%		11		5
Staples		154,720		0.5	%		2,192,115		0.5	%		12		6

Fuel Pad base rent (below) is included in the respective grocer’s annualized base rent above.


Grocer fuel pads on ground leases	Annualized Base Rent⁽²⁾
Safeway Total	$	103,425
Kroger Total		34,450
Schnucks Total		6,540


GLA owned and occupied by the anchor not included above:		# of Tenant- Owned Stores		# of Stores including Tenant- Owned
Target	1,911,479		20		24
Kroger	688,932		9		54
Safeway	314,000		6		60
Sears Holdings	92,080		1		12
Supervalu	78,371		2		30
Publix	62,771		1		57

	3,147,632

(1)	GLA includes only Regency’s pro-rata share of GLA in unconsolidated co-investment partnerships.

(2)	Annualized Base Rent includes only Regency’s pro-rata share of rent from unconsolidated co-investment partnerships.

Significant Tenant Rents - Wholly Owned and 100% of Co-investment Partnerships

September 30, 2010


Tenant	Tenant GLA⁽¹⁾		% of Company- Owned GLA⁽¹⁾			Total Annualized Base Rent⁽²⁾		% of Total Annualized Base Rent⁽²⁾			Total # of Leased Stores - 100% Owned and JV		# of Leased Stores in JV
Safeway		2,883,127		6.6	%	$	30,557,143		4.6	%		54		30
Publix		2,622,336		6.0	%		25,297,532		3.8	%		56		19
Kroger		2,737,683		6.3	%		24,884,787		3.8	%		45		13
Supervalu		1,494,411		3.4	%		16,654,944		2.5	%		28		15
Schnucks		1,887,329		4.3	%		16,437,709		2.5	%		31		31
CVS		750,880		1.7	%		11,146,304		1.7	%		50		24
TJX Companies		661,832		1.5	%		7,189,621		1.1	%		24		11
Blockbuster Video		304,174		0.7	%		6,745,173		1.0	%		58		23
Ross Dress For Less		461,206		1.1	%		6,623,348		1.0	%		16		10
Ahold		569,709		1.3	%		6,116,354		0.9	%		12		10
Whole Foods		211,557		0.5	%		6,046,892		0.9	%		5		2
Wells Fargo Bank		113,636		0.3	%		5,850,221		0.9	%		45		29
PETCO		300,942		0.7	%		5,779,270		0.9	%		21		11
Rite Aid		377,211		0.9	%		4,854,169		0.7	%		26		15
Starbucks		139,408		0.3	%		4,805,717		0.7	%		86		34
Target		514,078		1.2	%		4,738,724		0.7	%		4		2
Sears Holdings		594,627		1.4	%		4,676,450		0.7	%		11		5
Bank of America		102,624		0.2	%		4,583,993		0.7	%		28		12
Harris Teeter		356,347		0.8	%		4,467,121		0.7	%		7		4
Subway		152,165		0.3	%		4,310,587		0.7	%		114		53
H.E.B.		310,607		0.7	%		4,146,745		0.6	%		4		2
24 Hour Fitness		198,706		0.5	%		3,959,205		0.6	%		6		4
Walgreens		225,430		0.5	%		3,890,207		0.6	%		16		4
PetSmart		240,700		0.6	%		3,847,993		0.6	%		10		4
Toys “R” Us		293,271		0.7	%		3,815,186		0.6	%		11		8
Sports Authority		209,757		0.5	%		3,810,032		0.6	%		5		1
Hallmark		219,975		0.5	%		3,678,257		0.6	%		47		26
The UPS Store		140,507		0.3	%		3,558,426		0.5	%		98		41
Staples		249,067		0.6	%		3,423,381		0.5	%		12		6

Fuel Pad base rent (below) is included in the respective grocer’s annualized base rent above.


Grocer fuel pads on ground leases	Annualized Base Rent⁽²⁾
Safeway Total	$	244,500
Kroger Total		44,200
Schnucks Total		40,000


GLA owned and occupied by the anchor not included above:		# of Tenant- Owned Stores		# of Stores including Tenant- Owned
Target	2,637,263		20		24
Kroger	727,332		9		54
Safeway	314,000		6		60
Sears Holdings	230,200		1		12
Supervalu	101,721		2		30
Publix	62,771		1		57

	4,073,287

(1)	GLA includes 100% of the GLA in unconsolidated co-investment partnerships.

(2)	Total Annualized Base Rent includes 100% of the base rent in unconsolidated co-investment partnerships.

Tenant Lease Expirations

September 30, 2010


All Tenants
			Regency’s Pro-Rata Share										Co-investment Partnerships at 100%
Lease Expiration Year	Pro-Rata Expiring GLA		Percent of Pro- Rata Expiring GLA			Pro-Rata In-Place Minimum Rent Under Expiring Leases		Percent of Expiring Pro-Rata Minimum Rent⁽²⁾			Pro-rata Expiring A.B.R		Expiring GLA at 100%		Percent of Expiring GLA			In-Place Minimum Rent Under Expiring Leases at 100%		Percent of Expiring Minimum Rent⁽²⁾
(1)		279,245		1.1%		$	5,225,295		1.2%		$	18.71		396,547		1.0%		$	7,765,796		1.2%
2010		338,385		1.3%			7,052,175		1.6%			20.84		497,921		1.2%			10,064,425		1.5%
2011		2,761,771		10.5%			49,053,045		11.1%			17.76		3,857,012		9.6%			69,637,265		10.6%
2012		3,552,045		13.5%			65,894,015		14.9%			18.55		5,122,600		12.7%			94,980,973		14.4%
2013		2,723,830		10.3%			50,629,793		11.5%			18.59		4,230,236		10.5%			74,631,618		11.3%
2014		2,505,657		9.5%			47,735,832		10.8%			19.05		3,692,276		9.2%			70,033,599		10.6%
2015		1,954,676		7.4%			37,685,408		8.5%			19.28		3,195,117		7.9%			58,584,112		8.9%
2016		1,184,675		4.5%			18,897,903		4.3%			15.95		2,136,340		5.3%			32,653,235		5.0%
2017		1,327,183		5.0%			23,204,979		5.2%			17.48		2,149,886		5.3%			35,115,835		5.3%
2018		1,326,374		5.0%			20,326,327		4.6%			15.32		1,904,276		4.7%			28,768,125		4.4%
2019		1,180,723		4.5%			17,735,318		4.0%			15.02		1,761,207		4.4%			25,861,310		3.9%

10 Year Total		19,134,563		72.5%			343,440,091		77.7%			17.95		28,943,418		71.7%			508,096,293		77.2%

Thereafter		7,249,186		27.5%			98,649,149		22.3%			13.61		11,399,753		28.3%			150,140,387		22.8%

		26,383,749		100.0%		$	442,089,239		100.0%		$	16.76		40,343,171		100.0%		$	658,236,680		100.0%


Anchor Tenants⁽³⁾
			Regency’s Pro-Rata Share										Co-investment Partnerships at 100%
Lease Expiration Year	Pro-Rata Expiring GLA		Percent of Pro- Rata Expiring GLA			Pro-Rata In-Place Minimum Rent Under Expiring Leases		Percent of Expiring Pro-Rata Minimum Rent⁽²⁾			Pro-rata Expiring A.B.R		Expiring GLA at 100%		Percent of Expiring GLA			In-Place Minimum Rent Under Expiring Leases at 100%		Percent of Expiring Minimum Rent⁽²⁾

(1)		33,000		0.2	%	$	247,500		0.2	%		—		33,000		0.1	%	$	247,500		0.1%
2010		31,538		0.2	%		390,500		0.3	%		12.38		54,613		0.2	%		530,050		0.2%
2011		896,014		6.2	%		6,207,108		4.1	%		6.93		1,147,098		5.0	%		8,017,140		3.3%
2012		1,269,328		8.8	%		12,444,126		8.1	%		9.80		1,806,553		7.8	%		17,803,960		7.3%
2013		888,370		6.1	%		7,165,309		4.7	%		8.07		1,577,801		6.8	%		12,956,510		5.3%
2014		898,777		6.2	%		8,935,280		5.8	%		9.94		1,293,314		5.6	%		13,600,868		5.6%
2015		710,064		4.9	%		6,909,320		4.5	%		9.73		1,320,937		5.7	%		12,769,499		5.2%
2016		705,727		4.9	%		7,134,342		4.7	%		10.11		1,324,454		5.7	%		13,835,559		5.7%
2017		812,211		5.6	%		9,672,838		6.3	%		11.91		1,482,342		6.4	%		17,427,328		7.2%
2018		868,380		6.0	%		9,452,160		6.2	%		10.88		1,303,601		5.7	%		14,293,052		5.9%
2019		929,477		6.4	%		11,708,498		7.6	%		12.60		1,379,312		6.0	%		16,610,012		6.8%

10 Year Total		8,042,887		55.6	%		80,266,980		52.4	%		9.98		12,723,025		55.2	%		128,091,477		52.6%

Thereafter		6,427,029		44.4	%		72,884,640		47.6	%		11.34		10,324,424		44.8	%		115,332,252		47.4%

		14,469,916		100.0	%	$	153,151,620		100.0	%	$	10.58		23,047,449		100.0	%	$	243,423,728		100.0%

Reflects in place leases as of September 30, 2010, but does not account for contractual rent steps and assumes that no tenants exercise renewal options.

(1)	Leases currently under month to month lease or in process of renewal.

(2)	Total Minimum Rent includes base rent for all properties, but excludes additional rent such as percentage rent, common area maintenance, real estate taxes, and insurance reimbursements.

(3)	Anchor tenants represent any tenant at least 20,000 square feet.

Tenant Lease Expirations

September 30, 2010


Inline Tenants
			Regency’s Pro-Rata Share								Co-investment Partnerships at 100%
Lease Expiration Year	Pro-Rata Expiring GLA		Percent of Pro- Rata Expiring GLA		Pro-Rata In-Place Minimum Rent Under Expiring Leases		Percent of Expiring Pro-Rata Minimum Rent⁽²⁾		Pro-rata Expiring A.B.R		Expiring GLA at 100%		Percent of Expiring GLA		In-Place Minimum Rent Under Expiring Leases at 100%		Percent of Expiring Minimum Rent⁽²⁾
(1)		246,245		2.1%	$	4,977,795		1.7%	$	20.21		363,547		2.1%	$	7,518,296		1.8%
2010		306,847		2.6%		6,661,675		2.3%		21.71		443,308		2.6%		9,534,376		2.3%
2011		1,865,757		15.7%		42,845,937		14.8%		22.96		2,709,914		15.7%		61,620,125		14.9%
2012		2,282,717		19.2%		53,449,889		18.5%		23.42		3,316,047		19.2%		77,177,013		18.6%
2013		1,835,460		15.4%		43,464,484		15.0%		23.68		2,652,435		15.3%		61,675,108		14.9%
2014		1,606,880		13.5%		38,800,553		13.4%		24.15		2,398,962		13.9%		56,432,731		13.6%
2015		1,244,612		10.4%		30,776,088		10.7%		24.73		1,874,180		10.8%		45,814,613		11.0%
2016		478,948		4.0%		11,763,561		4.1%		24.56		811,886		4.7%		18,817,676		4.5%
2017		514,972		4.3%		13,532,141		4.7%		26.28		667,544		3.9%		17,688,508		4.3%
2018		457,994		3.8%		10,874,167		3.8%		23.74		600,675		3.5%		14,475,073		3.5%
2019		251,247		2.1%		6,026,820		2.1%		23.99		381,895		2.2%		9,251,298		2.2%

10 Year Total		11,091,676		93.1%		263,173,110		91.1%		23.73		16,220,393		93.8%		380,004,817		91.6%

Thereafter		822,156		6.9%		25,764,508		8.9%		31.34		1,075,329		6.2%		34,808,135		8.4%

		11,913,833		100.0%	$	288,937,619		100.0%	$	24.25		17,295,722		100.0%	$	414,812,952		100.0%

Reflects in place leases as of September 30, 2010, but does not account for contractual rent steps and assumes that no tenants exercise renewal options.

(1)	Leases currently under month to month lease or in process of renewal.

(2)	Total Minimum Rent includes base rent for all properties, but excludes additional rent such as percentage rent, common area maintenance, real estate taxes, and insurance reimbursements.

Earnings and Valuation Guidance

September 30, 2010


	Annual Guidance
($000s except per share numbers)	2008A		2009A		2010E		1Q10A		2Q10A		3Q10A		4Q10E

FFO / Share (for actuals please see related press release)						$2.25 - $2.30								$.47-$.52
Recurring FFO / Share						$2.35 - $2.40								$.52-$.57

Same Property - Wholly owned and Regency’s pro-rata share of co-investment partnerships:
Same property percent leased at period end		93.8%		93.1%		91.5% - 93.0%		92.7%		92.8%		92.9%
Same property growth		2.6%		-6.7%		0.5% - 1.5%		-0.3%		3.5%		1.0%
Rental rate growth		10.6%		-2.7%		(3.0)% - 2.0%		1.1%		-0.1%		-4.5%
Percentage Rent - Consolidated Only	$	4,260	$	3,584		$2,000 - $2,600		$360		$263		$399
Recovery Rate - Consolidated Only - All Properties		79.4%		73.7%		73% - 75%		75.5%		75.4%		72.9%
Operating Portfolio only excluding development		83.0%		77.3%		77% - 79%		78.5%		77.2%		76.2%

Investment Activity
Regency’s Additional 15% Investment in GRI JV	$	0	$	0		$239,718		$239,718		$0		$0
Cap rate		0.0%		0.0%		9.6%		9.6%		0.0%		0.0%

Acquisitions - consolidated	$	0	$	0		$18,000-$82,000		$0		$0		$18,000
Cap rate		0.0%		0.0%		6.5% - 6.7%		0.0%		0.0%		6.7%
JV Acquisitions - 3rd Party (gross $)	$	121,775	$	17,884		$30,887-$51,000		$30,887		$0		$0
Cap rate		6.5%		9.3%		7.9% - 8.9%		8.9%		0.0%		0.0%
REG % ownership		20%		50%		25%		25%		0%		0%
JV Acquisitions - REG contributions (gross $)	$	157,894	$	133,865		$0		$0		$0		$0
Cap rate		7.0%		8.8%		0.0%		0.0%		0.0%		0.0%
REG % ownership		20%		20%		0%		0%		0%		0%
Dispositions - (REG Pro-Rata)	$	263,484	$	189,509		$40,000-$75,000		$26,465		$6,200		$0
Cap rate (average)		7.3%		8.4%		8.5% - 9%		9.06%		8.57%		0.00%
Development starts	$	176,891	$	29,814		$0-$10,000		$0		$0		$0
Development completions - net costs	$	102,888	$	111,257		$300,000-$310,000		$97,148		$113,105		$33,666
Stabilized yield (net dev costs)		10.3%		7.9%		7.7%-8.0%		8.1%		7.4%		8.5%
Completion yield (net dev costs)				7.7%		5.7%-6.0%		6.4%		5.5%		5.6%
Capitalized interest on completions			$	1,585		$600-$950		$378		$134		$135
Transaction profits net of taxes*	$	57,921	$	27,353		$1,750-$2,750		$386		$2,580		-$842
Minority share of transaction profits	$	0	$	0		$0		$0		$0		$0
Acquisition closing costs and dead deal costs	-$	15,510	-$	4,120		-$1,500 to -$2,000		-$155		-$612		-$267
Third party fees and commissions	$	36,332	$	30,508		$25,000-$27,000		$6,931		$6,925		$6,525

*2008A includes $19.7 million of promote income. 2009A includes $13.1 million of promote income.



Net Asset Valuation Guidance:
Estimated market value of expansion land and outparcels available											$	76,194
NOI from in-process developments (current quarter)											$	5,491
NOI from leases signed but not yet rent-paying in operating properties, including completed developments (current quarter)											$	1,933

Forward-looking statements involve risks, uncertainties and assumptions. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements. Please refer to the documents filed by Regency Centers Corporation with the SEC, specifically the most recent reports on forms 10K and 10Q, which identify important risk factors which could cause actual results to differ from those contained in the forward-looking statements.

Reconciliation of FFO and Recurring FFO Guidance to Net Income

September 30, 2010

All numbers are per share except weighted average shares


Funds From Operations Guidance:	Three Months Ended December 31, 2010				Full Year 2010
Net income attributable to common stockholders	$	(0.03	)	0.02	$	0.31			0.36

Adjustments to reconcile net income to FFO:
Depreciation expense and amortization		0.50		0.50		2.04			2.04
Gain on sale of operating properties		—		—		(0.10	)		(0.10	)


Funds From Operations	$	0.47		0.52	$	2.25			2.30

Adjustments to reconcile FFO to Recurring FFO:
All non-recurring items as defined below		0.05		0.05	$	0.10		$	0.10

Recurring Funds From Operations	$	0.52		0.57	$	2.35			2.40


Weighted average shares (000’s)		83,608				83,148

Regency considers FFO to be an accurate benchmark to its peer group and a meaningful performance measurement for the company because it excludes various items in net income that do not relate to or are not indicative of the operating performance of the ownership, management and development of real estate. FFO is defined by the National Association of Real Estate Investment Trusts generally as net income attributable to common stockholders (computed in accordance with GAAP), (1) excluding real estate depreciation and amortization and gains and losses from sales of operating properties (excluding gains and losses from the sale of development properties or land), (2) after adjustment for unconsolidated partnerships and joint ventures computed on the same basis as item 1 and (3) excluding items classified by GAAP as extraordinary.

Regency also provides “Recurring FFO” for the purpose of excluding those items considered non-recurring that are included within FFO. Non -recurring income would include transaction profits, net, which is comprised of development and outparcel gains, and non-recurring transaction fees such as promote income, net of dead deal costs and applicable income taxes. Non-recurring expenses would include provisions for impairment, restructuring charges, losses on early debt stock extinguishments, and other signficant one-time charges considered non-recurring.

CAPITAL AVAILABILTY

Exhibit 99.3

Capital Availability

Assumes no property sales, no additional cash flow, no additional consolidated refinancings

(as of November 2, 2010)


($ thousands)
	2010			2011			2012			2013
Capital Sources:
Line commitments combined	$	713,833		$	—		$	—		$	—
Outstanding line balance – 11/2/10		—			—			—			—
Line maturity – 2/11/11 & 2/11/12 ⁽¹⁾		—			(113,833	)		—			—

Line Availability		713,833			613,346			587,891			387,092
Cash balance – 11/2/10		74,200			—			—			—
Forward equity offering (net of costs)		—			225,000			—			—


Funding Availability before Capital Requirements		788,033			838,346			587,891			387,092


Capital Requirements:
Financing requirements – maturing consolidated debt		(17,364	)		(198,822	)		(192,377	)		(16,282	)
Assumed equity requirement to refinance maturing JV mortgage debt		—			(36,713	)		(5,826	)		—
Costs to complete in-process developments ⁽²⁾		(43,490	)		(14,920	)		(2,595	)		—


Total Capital Requirements		(60,854	)		(250,454	)		(200,799	)		(16,282	)


Total Capital Availability	$	727,179		$	587,891		$	387,092		$	370,810

(1)	Assumes $600 million refinance of 2/11/12 line expiration

(2)	Net of tenant reimbursements, but exclusive of out parcel proceeds