SEC Filing | Regency Centers Corporation

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SECURITIES AND EXCHANGE COMMISSION UNITED STATES Washington, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) November 3, 2000 REGENCY REALTY CORPORATION (Exact name of registrant as specified in its charter) Florida 1-12298 59-3191743 (State or other jurisdiction Commission (IRS Employer of incorporation) File Number) Identification No.) 121 West Forsyth Street, Suite 200 Jacksonville, Florida 32202 (Address of principal executive offices) (Zip Code) Registrant's telephone number including area code: (904)-356-7000 Not Applicable (Former name or former address, if changed since last report)

Item 9. Regulation FD Disclosure The following information shall not be deemed "filed" for purposes of Section 18 or otherwise under the Securities Exchange Act of 1934 and shall not be deemed incorporated by reference into any filing previously or subsequently made by us under that Act or under the Securities Act of 1933.

INVESTOR RELATIONS Lesley Stocker 121 W. Forsyth St., Suite 200 Jacksonville, FL 32202 (904) 351-0675 www.regencyrealty.com

Regency Realty ------------------------------------------------------------------------------ Supplemental Information September 30, 2000 ------------------------------------------------------------------------------ TABLE OF CONTENTS FINANCIAL INFORMATION: Summary Financial Information..................................................1 Net Income - Regency Realty Corporation........................................2 Funds from Operations and Cash Available for Distribution......................3 Basic and Diluted Per Share Calculation (net income and FFO)...................4 Net Income - Regency Centers, L.P..............................................5 Balance Sheets - Regency Realty Corporation and Regency Centers, L.P.........6-7 Outstanding Debt Summary.....................................................8-9 Shopping Center Acquisitions .................................................10 Shopping Center Development................................................11-12 Unconsolidated Real Estate Investments in Joint Ventures......................13 Securities Issued Other than Common Stock.....................................14 REAL ESTATE INFORMATION: Summary Real Estate Information...............................................15 Real Estate Status Report..................................................16-23 Significant Tenant Rents...................................................24-25 10 Year Lease Expiration Table.............................................26-27

- ------------------------------------------------------------------------------------------------------------------------------------ Regency Realty Consolidated Statements of Operations For the Periods Ended September 30, 2000 and 1999 - ------------------------------------------------------------------------------------------------------------------------------------ Three Months Ended Year to Date ----------------------- ----------------------- 2000 1999 2000 1999 Actual Actual Actual Actual ------ ------ ------ ------ Real Estate Revenues: Minimum rent $65,487,039 $59,410,015 $189,389,963 $157,352,236 Percentage rent 325,785 291,303 1,378,246 1,179,302 Recoveries and other tenant related income 17,999,790 14,664,161 51,081,827 39,042,943 -------------- ------------- ------------- ------------- 83,812,614 74,365,479 241,850,036 197,574,481 -------------- ------------- -------------- ------------- Real Estate Expenses: Operating and maintenance 11,992,681 10,733,732 33,095,724 27,602,063 Real estate taxes 9,004,241 7,835,440 25,326,122 20,073,559 -------------- ------------- --------------- ------------- 20,996,922 18,569,172 58,421,846 47,675,622 -------------- ------------- -------------- ------------- Net Operating Income 62,815,692 55,796,307 183,428,190 149,898,859 -------------- ------------- --------------- ------------- Third Party Revenues: Development for sale profits, net of tax 3,739,961 2,915,989 9,986,196 4,886,206 Management fees and commission income 356,697 575,481 1,177,286 3,299,075 Gains on sales of outparcels 1,094,359 148,195 2,474,564 670,006 -------------- ------------- ---------------- ------------ 5,191,017 3,639,665 13,638,046 8,855,287 -------------- ------------- ---------------- ------------ Other Expenses (Income): General and administrative 4,996,685 4,795,323 13,253,951 13,576,216 Depreciation & amortization 14,776,780 13,112,164 43,163,768 34,893,216 Interest expense and loan cost amortization 18,791,545 15,575,115 52,681,417 43,567,458 Interest (income) (1,160,925) (491,730) (2,823,483) (1,612,733) Reserve for estimated loss on sale of operating properties 0 0 6,909,625 0 Loss (gain) on sale of operating properties 0 0 (18,310) 0 -------------- ------------- -------------- ------------- 37,404,085 32,990,872 113,166,968 90,424,157 -------------- ------------- --------------- ------------- Income before minority interests 30,602,624 26,445,100 83,899,268 68,329,989 Minority interests (income) Equity income of unconsolidated partnerships (2,804,787) (1,218,075) (2,865,450) (3,354,278) Redeemable operating partnership units 662,600 769,851 1,848,093 2,108,362 Limited partners interest in consolidated partnerships 186,203 (83,702) 666,518 663,331 -------------- ------------- ------------- ------------- Net income 32,558,608 26,977,026 84,250,107 68,912,574 Preferred dividends Perpetual preferred unit distributions 7,977,919 2,334,376 21,232,432 5,584,378 Convertible preferred stock dividends 699,459 677,165 2,098,377 1,577,165 --------------- ------------ --------------- ------------- Net income for common shareholders $23,881,230 $23,965,485 $60,919,298 $61,751,031 =============== ============ =============== ============= 2

- ------------------------------------------------------------------------------------------------------------------------------------ Regency Realty Consolidated Statements of Funds from Operations and Cash Available for Distribution For the Periods Ended September 30, 2000 and 1999 - ------------------------------------------------------------------------------------------------------------------------------------ Three Months Ended Year to Date ----------------------- ---------------------- 2000 1999 2000 1999 Actual Actual Actual Actual ------ ------ ------ ------ Funds From Operations: Net Income for common stockholders $23,881,230 $23,965,485 $60,919,298 $61,751,031 Plus (Less): Depreciation expense - real property 13,829,910 12,640,050 41,272,660 33,467,947 Amortization of leasing commissions 633,374 308,784 1,628,903 791,857 Reserve for estimated loss on sale of operating properties 0 0 6,909,625 0 (Gain)/Loss - sale of operating properties 0 (5,668) (18,310) 0 Convertible preferred dividends 699,459 677,165 2,098,377 1,577,165 Minority interest of redeemable O.P. Units 662,601 769,851 1,848,094 2,108,362 -------------- ------------ -------------- ------------ Funds from Operations $39,706,574 $38,355,667 $114,658,647 $99,696,362 ============== ============ ============== ============ Cash Available for Distribution: Funds from Operations $114,658,647 $99,696,362 Plus (Less): Straight-lining of rents adjustment (4,062,478) (3,635,496) Amortization of Debt repricing premium on acquistions (1,504,282) (1,482,273) Stock based compensation 4,837,737 1,800,000 Capitalized leasing commissions (Non Rev Enhancing) - operating properties (4,025,932) (2,490,012) Capital improvements (Non Rev Enhancing) - operating properties (7,425,411) (6,481,268) --------------- ----------- Cash Available for Distribution $102,478,281 $87,407,313 ============== ============ 3

- ------------------------------------------------------------------------------------------------------------------------------------ Regency Realty Calculation of Earnings and FFO Per Share For the Periods Ended September 30, 2000 and 1999 - ------------------------------------------------------------------------------------------------------------------------------------ Three Months Ended Year to Date ----------------------- ---------------------- 2000 1999 2000 1999 Actual Actual Actual Actual ------ ------ ------ ------ - ------------------------------------------------------------------------------------------------------------------------------------ Funds From Operations Per Share - ------------------------------------------------------------------------------------------------------------------------------------ Funds from Operations for Basic FFO per share $38,344,515 $36,908,651 $110,712,177 $94,601,280 ============= ============== ============== ============= Increases to Diluted FFO as a result of Dilutive CSE's Class B and Convertible Preferred dividends $699,459 $677,165 $2,098,377 $2,986,720 "Down-REIT" Minority Interests with redeemable units $662,600 $769,851 $1,848,093 $2,108,362 -------------- ------------- -------------- ------------- Funds from Operations for Diluted FFO per share $39,706,574 $38,355,667 $114,658,647 $99,696,362 ============== ============= ============== ============= FFO Per Share: Basic $0.67 $0.62 $1.95 $1.83 Diluted $0.66 $0.61 $1.91 $1.78 - ------------------------------------------------------------------------------------------------------------------------------------ Earnings Per Share - ------------------------------------------------------------------------------------------------------------------------------------ Net Income for Common Stockholders $23,881,230 $23,965,485 $60,919,298 $61,751,031 Less: Class B dividends not yet deducted $0 $0 $0 ($1,409,555) ------------- -------------- --------------- ------------- Net Income for Basic EPS $23,881,230 $23,965,485 $60,919,298 $60,341,476 ============= ============== =============== ============= Add: "Down-REIT" minority interest (if dilutive to EPS) $662,600 $769,851 $1,848,093 $2,108,362 ------------- -------------- -------------- ------------ Net Income for Diluted EPS $24,543,830 $24,735,336 $62,767,391 $62,449,838 ============= ============== ============== ============ Earnings Per Share: Basic $0.42 $0.40 $1.07 $1.16 Diluted $0.42 $0.40 $1.07 $1.16 - ------------------------------------------------------------------------------------------------------------------------------------ Weighted Average Shares Outstanding - ------------------------------------------------------------------------------------------------------------------------------------ Weighted Average Shares for Basic Net Income and FFO Per Share 56,895,045 59,571,568 56,696,937 51,796,098 ============= ============= ============== ============ Dilutive Common Stock Equivalents for EPS: O.P. Unit equivalents after conversion to common 1,684,632 2,085,446 1,909,124 1,978,835 Compensation based stock options (Treasury Method) 103,445 4,933 45,210 3,592 --------------- ----------- --------------- ------------- Weighted Average Shares for Diluted EPS 58,683,122 61,661,947 58,651,271 53,778,525 =============== =========== =============== ============= Dilutive Common Stock Equivalents for FFO: Class B common stock 0 0 0 995,469 Convertible Series 1 and 2 Preferred Stock 1,487,507 1,502,532 1,487,506 1,176,615 -------------- ------------ -------------- ------------- Weighted Average Shares for Diluted Funds from Operations Per Share 60,170,629 63,164,479 60,138,777 55,950,609 ============== ============ ============== ============= 4

- ------------------------------------------------------------------------------------------------------------------------------------ Regency Centers, L.P. Consolidated Statements of Operations For the Periods Ended September 30, 2000 and 1999 - ------------------------------------------------------------------------------------------------------------------------------------ Three Months Ended Year to Date ----------------------- ---------------------- 2000 1999 2000 1999 Actual Actual Actual Actual ------ ------ ------ ------ Real Estate Revenues: Minimum rent $61,836,311 $55,853,324 $178,625,353 $146,693,434 Percentage rent 312,048 285,074 1,320,012 1,068,779 Recoveries and other tenant related income 17,197,337 13,870,288 48,641,418 36,706,100 ------------- ------------- ------------- -------------- 79,345,696 70,008,686 228,586,783 184,468,313 ------------- ------------- ------------ -------------- Real Estate Expenses: Operating and maintenance 11,283,875 10,019,568 31,018,696 25,486,950 Real estate taxes 8,623,109 7,440,862 24,160,988 18,888,961 -------------- ------------ ------------- -------------- 19,906,984 17,460,430 55,179,684 44,375,911 -------------- ------------ ------------ -------------- Net Operating Income 59,438,712 52,548,256 173,407,099 140,092,402 -------------- ------------ ------------- -------------- Third Party Revenues: Development for sale profits, net of tax 3,739,961 2,915,989 9,986,196 4,886,206 Management fees and commission income 356,697 575,480 1,177,286 3,299,075 Gains on sales of outparcels 1,094,359 148,195 2,474,564 670,006 -------------- ------------ -------------- ------------- 5,191,017 3,639,664 13,638,046 8,855,287 -------------- ------------ -------------- ------------- Other Expenses (Income): General and administrative 4,996,685 4,795,323 13,253,951 13,576,216 Depreciation & amortization 13,702,244 12,184,080 40,117,111 32,151,239 Interest expense and loan cost amortization 17,356,132 14,672,670 49,316,059 40,519,525 Interest (income) (1,144,983) (479,652) (2,776,206) (1,572,470) Reserve for estimated loss on sale of operating properties 0 0 6,909,625 0 Loss (gain) on sale of operating properties 0 0 (18,310) 0 -------------- ------------ -------------- ------------ 34,910,078 31,172,421 106,802,230 84,674,510 -------------- ------------ -------------- ------------ Income before minority interests 29,719,651 25,015,499 80,242,915 64,273,179 Minority interests (income) Equity income of unconsolidated partnerships (2,804,787) (1,218,075) (2,865,450) (3,354,278) Limited partners interest in consolidated partnerships 186,203 (83,702) 666,517 663,331 -------------- ------------ -------------- ------------ Net income 32,338,235 26,317,276 82,441,848 66,964,126 Preferred dividends Perpetual preferred unit distributions 7,977,919 2,334,376 21,232,432 5,584,378 -------------- ------------ ------------- ------------- Net income for unitholders $24,360,316 $23,982,900 $61,209,416 $61,379,748 ============== ============ ============= ============= 5

- ------------------------------------------------------------------------------------------------------------------------------------ Regency Realty Balance Sheets For the Periods Ended September 30, 2000 and 1999 - ------------------------------------------------------------------------------------------------------------------------------------ Assets 2000 1999 1998 ---- ---- ---- Real Estate Investments, at cost: Operating properties $2,450,651,362 2,401,953,304 1,183,184,013 Properties in development 258,683,760 167,300,893 36,517,574 -------------- ------------------ -------------- 2,709,335,122 2,569,254,197 1,219,701,587 Operating properties held for sale 124,098,255 0 0 Less: accumulated depreciation 137,085,242 104,467,176 58,983,738 -------------- ------------------ --------------- 2,696,348,135 2,464,787,021 1,160,717,849 Investments in real estate partnerships 66,159,432 66,938,784 30,630,540 -------------- ------------------ --------------- Net real estate investments 2,762,507,567 2,531,725,805 1,191,348,389 Cash & cash equivalents 36,870,913 54,117,443 19,919,693 Notes receivable 37,962,720 15,673,125 0 Tenant receivables, net of reserves 29,672,141 33,515,040 16,758,917 Deferred costs, net of amortization 18,340,711 12,530,546 6,872,023 Other assets 7,710,185 7,374,019 5,208,278 -------------- ----------------- --------------- $2,893,064,237 2,654,935,978 1,240,107,300 ============== ================= =============== Liabilities and Stockholders' Equity Fixed and variable secured mortgage loans 524,401,710 394,091,114 309,199,052 Unsecured fixed rate loans 370,331,834 370,696,093 121,295,858 Unsecured line of credit 305,000,000 247,179,310 117,631,185 -------------- ----------------- -------------- Total Notes Payable 1,199,733,544 1,011,966,517 548,126,095 -------------- ----------------- -------------- Tenant security and escrow deposits 8,413,577 7,952,707 3,110,370 Accounts payable & other liabilities 39,887,575 48,886,111 19,936,424 -------------- ----------------- -------------- Total Liabilities 1,248,034,696 1,068,805,335 571,172,889 -------------- ----------------- -------------- Exchangeable operating partnership units 35,125,451 44,589,873 27,834,330 Preferred units 375,438,252 283,816,274 78,800,000 Limited partners' interest in consolidated partnerships 6,514,687 10,475,321 11,558,618 -------------- ----------------- -------------- Total Minority Interests 417,078,390 338,881,468 118,192,948 -------------- ----------------- -------------- Stockholders' Equity Series 1 and 2 convertible preferred stock 34,696,112 34,696,112 0 Common stock, $.01 par 601,981 596,395 254,889 Class B Common stock, $.01 par 0 0 25,000 Additional paid-in capital 1,250,786,848 1,249,720,998 578,466,708 Distributions in excess of net income (47,298,641) (26,779,538) (19,395,744) Stock loans (10,835,149) (10,984,792) (8,609,390) -------------- ----------------- -------------- Total Stockholders Equity 1,227,951,151 1,247,249,175 550,741,463 -------------- ----------------- -------------- $2,893,064,237 2,654,935,978 1,240,107,300 ============== ================= ============== - ------------------------------------------------------------------------------------------------------------------------------------ Other Summary Information - RRC Year to Date 12 Months 2000 1999 ---- ---- EBITDA 189,501,218 216,879,064 Fixed Charge Coverage Ratio 2.1 2.4 Interest Coverage Ratio 3.1 3.1 Debt to Real Assets, at cost before depreciation 41.4% 38.4% Unsecured Assets to Total Real Estate Assets 73.9% 70.0% Unsecured NOI to Total NOI 73.8% 69.1% - ------------------------------------------------------------------------------------------------------------------------------------ 6

- ------------------------------------------------------------------------------------------------------------------------------------ Regency Centers, L.P Balance Sheets For the Periods Ended September 30, 2000 and 1999 - ------------------------------------------------------------------------------------------------------------------------------------ Assets 2000 1999 ---- ---- Real Estate Investments, at cost: Operating properties $2,308,370,196 2,261,695,169 Properties in developments 258,683,760 167,300,893 -------------- -------------- 2,567,053,956 2,428,996,062 Operating properties held for sale 124,098,255 0 Less: accumulated depreciation 111,055,462 81,294,400 -------------- -------------- 2,580,096,749 2,347,701,662 Investments in real estate partnerships 66,159,432 66,938,784 -------------- -------------- Net real estate investments 2,646,256,181 2,414,640,446 Cash & cash equivalents 32,611,193 50,964,920 Notes receivable 46,056,322 15,673,125 Tenant receivables, net of reserves 28,366,032 30,884,172 Deferred costs, net of amortization 16,844,767 11,272,866 Other assets 7,588,032 7,273,925 -------------- -------------- $2,777,722,527 2,530,709,454 ============== ============== Liabilities and Partners' Capital Fixed and variable secured mortgage loans 473,401,710 343,091,114 Unsecured fixed rate loans 370,331,834 370,696,093 Unsecured line of credit 305,000,000 247,179,310 -------------- -------------- Total Notes Payable 1,148,733,544 960,966,517 -------------- -------------- Tenant security and escrow deposits 8,019,289 7,566,967 Accounts payable & other liabilities 38,066,174 47,981,987 -------------- -------------- Total Liabilities 1,194,819,007 1,016,515,471 -------------- -------------- Limited partners' interest in consolidated partnerships 6,386,271 11,108,994 -------------- -------------- Preferred units 375,438,252 283,816,274 General and limited operating partnership units 1,201,078,997 1,219,268,715 -------------- -------------- Total Partners' Capital 1,576,517,249 1,503,084,989 -------------- -------------- $2,777,722,527 2,530,709,454 ============== ============== - ------------------------------------------------------------------------------------------------------------------------------------ Other Summary Information - RCLP Year to Date 12 Months 2000 1999 ---- ---- EBITDA 179,432,850 203,143,569 Interest Paid & Preferred Dividend Coverage Ratio 2.3 2.6 Interest Coverage Ratio 3.1 3.0 Debt to Real Assets, at cost before depreciation 41.7% 38.5% Unsecured Assets to Total Real Estate Assets 77.2% 73.5% Unsecured NOI to Total NOI 77.6% 73.2% - ------------------------------------------------------------------------------------------------------------------------------------ 7

Regency Centers, L.P. Only Total Debt Outstanding 09/30/00 12/31/99 - ---------------------- -------- -------- Mortgage Loans Payable Fixed rate secured loans 291,232,912 331,714,999 Fixed rate unsecured loans 20,606,548 21,020,135 Variable rate secured loans 32,438,035 11,376,116 Unsecured debt offering fixed rate 499,456,049 349,675,957 Unsecured line of credit variable rate 305,000,000 247,179,310 ------------- ------------- Total 1,148,733,544 960,966,517 ============= ============= Scheduled Term Schedule of Maturities by Year: Amortization Maturities Total - ------------------------------- ------------ ----------- ----- 2000 1,462,005 5,984,589 7,446,594 2001 5,631,196 69,444,882 75,076,078 2002 4,954,527 349,094,161 354,048,688 2003 4,946,103 13,302,014 18,248,117 2004 5,342,323 199,889,500 205,231,823 2005 3,954,738 159,357,497 163,312,235 2006 3,517,545 24,092,264 27,609,809 2007 2,954,575 25,710,067 28,664,642 2008 3,102,231 4,679,692 7,781,923 2009 3,104,696 53,089,593 56,194,289 >10 years 19,969,959 174,853,859 194,823,818 Net unamortized debt premiums -- 10,295,530 10,295,530 ----------------- ---------------- ----------------- 58,939,898 1,089,793,646 1,148,733,544 ================ ================ ================= 8

- ------------------------------------------------------------------------------------------------------------------------------------ Regency Realty Corporation Summary of Outstanding Debt September 30, 2000 - ------------------------------------------------------------------------------------------------------------------------------------ Lender Secured Property Rate Maturity 09/30/00 12/31/99 - ------ ---------------- ---- -------- -------- -------- Fixed Rate Loans: Regency Realty Corporation (excluding Regency Centers, L.P.) Securitized Loan - Banker's Trust Banker's Trust - Various Properties 6.720% 12-1-00 51,000,000 51,000,000 ------------- ------------- Regency Centers, L.P. only LaSalle National Bank, as Trustee Sunnyside 205 9.375% 01-15-00 -- 5,678,996 Abbey Tex Retail Funding Co. Mills Pointe 7.230% 07-01-00 -- 5,741,898 Abbey Tex Retail Funding Co. Preston Park Village 7.230% 07-01-00 -- 24,478,620 Principal Mutual Life Insurance Co. Briarcliff LaVista 7.570% 12-15-00 1,614,982 1,630,511 Principal Mutual Life Insurance Co. Cromwell Square 7.570% 12-15-00 4,369,607 4,411,629 American Enterprise Life Ins. Co. Paseo Village 7.500% 05-01-01 3,960,006 4,081,445 Wachovia Bank of Georgia Carriage Gate - Unsecured 7.600% 06-28-01 2,219,014 2,266,757 Wachovia Bank of Georgia Newberry Square - Unsecured 7.600% 06-28-01 6,213,240 6,346,921 Principal Mutual Life Insurance Co. Hyde Park 8.520% 12-15-01 24,750,000 24,750,000 Fortis Benefits Insurance Aventura 9.500% 03-01-02 8,363,280 8,470,790 Teachers Ins & Annuity of America Evans Crossing 9.250% 01-01-02 4,193,924 4,277,340 Teachers Ins & Annuity of America Bent Tree 9.250% 01-01-02 5,450,913 5,524,586 Teachers Ins & Annuity of America Franklin Square 9.250% 01-01-02 8,869,282 8,989,157 Wachovia Bank of Georgia The Marketplace - Unsecured 7.600% 04-01-02 2,144,066 2,186,300 Wachovia Bank of Georgia Peachland Promenade - Unsecured 7.600% 06-01-02 4,025,970 4,095,518 Wachovia Bank of Georgia Russell Ridge - Unsecured 8.010% 08-17-02 6,004,258 6,124,639 Life Investors Insurance Co. of America Garden Square 7.940% 12-21-02 6,312,512 6,403,488 Nationwide Life Insurance Company Glenwood Village 8.625% 06-01-03 2,054,140 2,127,621 G.E. Capital Pike Creek 9.040% 11-21-03 12,070,715 12,237,467 Debt Offering Unsecured 7.400% 04-01-04 199,889,500 199,866,100 Nationwide Life Insurance Co. Friar's Mission 9.500% 06-10-05 16,217,886 16,422,242 IDS Certificate Co. St. Ann Square 9.500% 07-01-05 4,778,365 4,861,922 Debt Offering Unsecured 7.125% 07-15-05 99,835,786 99,809,857 Prudential Insurance Company of America Braelin Village 7.840% 09-01-05 12,104,721 12,218,290 Teachers Ins & Annuity of America Westchester Plaza 8.010% 09-01-05 5,629,375 5,712,441 Teachers Ins & Annuity of America East Pointe 8.010% 09-01-05 5,098,685 5,173,921 Allstate Insurance Company of America Memorial Bend 7.920% 10-01-05 7,891,207 8,089,362 DLJ Commercial Mortgage Northlake Village 8.780% 11-01-05 6,900,314 -- Woodmen of the World Life Ins. Society Market at Round Rock 8.625% 09-01-05 7,200,596 7,298,779 Allstate Life Insurance Company Highlands Square 8.450% 02-01-06 3,749,137 3,835,315 Principal Mutual Life Insurance Co. Briarcliff Village 7.040% 02-01-06 12,979,281 13,113,636 Teachers Ins & Annuity of America Statler Square 8.110% 05-01-06 5,328,946 5,393,006 Teachers Ins & Annuity of America Northgate Plaza/Maxtown 7.050% 08-01-06 5,258,405 5,339,003 Teachers Ins & Annuity of America Kernersville 8.730% 04-01-07 5,088,740 5,146,742 Teachers Ins & Annuity of America Maynard Crossing 8.735% 04-01-07 11,420,194 11,550,269 IDS Certificate Co. Hamilton Meadows 8.125% 05-01-07 - 5,528,516 Principal Mutual Life Ins. Lakeshore 7.240% 12-10-07 3,619,044 3,668,020 Principal Mutual Life Ins. Shoppes at Mason 7.240% 12-10-07 3,809,520 3,861,074 Principal Mutual Life Ins. Lake Pine Plaza 7.240% 12-10-07 5,809,517 5,888,137 Nationwide Life Insurance Co. West Hills Plaza 7.990% 12-10-08 5,150,109 5,185,042 Debt Offering Unsecured 7.750% 04-01-09 50,000,000 50,000,000 Allstate Insurance Company of America Ashford Place 8.950% 08-01-09 4,468,459 4,550,587 Principal Mutual Life Insurance Co. Cumming 400 7.970% 12-15-10 6,292,503 6,349,087 Debt Offering Unsecured 8.450% 08-29-10 149,730,763 -- Principal Mutual Life Insurance Co. Powers Ferry Village 7.970% 12-15-10 2,860,228 2,885,949 A. H. Michigan Life Insurance Co. Wade Green CVS 8.100% 04-01-12 951,745 987,878 Nationwide Life Insurance Co. Plaza de Hacienda 9.000% 06-10-12 6,533,591 6,604,058 PFL Life Insurance Co. James Center 8.740% 08-01-13 5,650,951 5,787,944 Allstate Life Insurance Company North Hills Town Center 7.370% 01-01-14 8,470,784 8,688,589 United of Omaha Life Insurance Co. Fleming Island 7.400% 03-05-15 3,310,691 3,404,648 Municipal Tax Bonds Payable Friar's Mission 7.600% 09-02-15 1,264,087 1,264,087 Aid Association of Lutherans Woodman Van-Nuys 8.800% 09-15-15 5,760,600 5,895,124 Jefferson Pilot Peartree Village 8.400% 06-01-17 12,480,121 12,613,011 Protective Life Worthington Park Centre 8.750% 06-01-18 4,776,812 4,858,536 Aid Association of Lutherans Murrayhill Marketplace 8.050% 05-01-19 8,073,407 8,209,237 Net unamortized premiums on assumed debt of acquired properties 10,295,530 12,526,999 ------------- ------------- Total Regency Centers, L.P. Fixed Rate Debt 811,295,509 702,411,091 ------------- -------------

Variable Rate Loans: Regency Centers, L.P. only First Star Bank Hampstead Village Libor + 1.35% 10-31-01 10,361,339 2,431,616 First Star Bank Frisco Prestonbrook Libor + .75% 10-01-01 13,228,061 -- Wachovia Bank of Georgia Trowbridge Crossing Libor + 1.50% 11-30-01 1,800,000 1,800,000 Wells Fargo Bank $625 Million Line of Credit Libor + 1.000% 03-28-02 305,000,000 247,179,310 Wachovia Bank of Georgia Dunwoody Village Libor + 1.25% 03-20-01 7,048,635 7,144,500 ------------- ------------- Total Regency Centers, L.P. Variable Rate Debt 337,438,035 258,555,426 ------------- ------------- Total Regency Centers, L.P. Debt 1,148,733,544 960,966,517 ============= ============= Total Regency Realty Corporation Debt 1,199,733,544 1,011,966,517 ============= ============= 9

- ------------------------------------------------------------------------------------------------------------------------------------ Regency Realty Development Status Report September 30, 2000 (Sorted by Status and State) - ------------------------------------------------------------------------------------------------------------------------------------ Dev, Start Core or Re-Dev, Property Name City State Year Status For Sale or Renov - ------------------------------------------------------------------------------------------------------------------------------------ Hawthorne Plaza Village Hawthorne CA 1998 Sold For Sale Dev Monrovia Los Angeles CA 1999 Sold For Sale Dev Santa Margarita Marketplace Rancho Santa Marg CA 1999 Sold For Sale Dev Long Bch Corp Sq (Ralph's) Long Beach CA 1999 Sold For Sale Dev Woodmen Plaza Colo. Springs CO 1998 Stable Core Dev Briarcliff Village Atlanta GA 1998 Stable Core Renov Waterford Shopping Center Waterford MI 1998 Stable Core Dev Hebron Parkway Plaza Carrollton TX 1998 Stable Core Dev Vistoso Tucson AZ 2000 IP Core Dev Ocotillo Chandler AZ 2000 IP Core Dev South Mountain Phoenix AZ 2000 IP Core Dev Stonebridge Center Mesa AZ 2000 IP Core Dev The Provinces Chandler AZ 2000 IP Core Dev Campus Marketplace San Marcos CA 2000 IP Core Dev Carson/Abalone Torrance CA 2000 IP For Sale Dev Corral Hollow Tracy CA 2000 IP Core Dev El Cerrito Plaza El Cerrito CA 2000 IP Core Re-Dev Plaza El Paseo Rancho Santa Marg CA 2000 IP Core Dev Prairie City Crossing (Folsom) Folsom CA 1999 IP Core Dev San Fernando Value Square San Fernando CA 2000 IP For Sale Re-Dev Redlands Marketplace (Brach's Corner) Grand Junction CO 1999 IP For Sale Re-Dev Fleming Island Phase II Jacksonville FL 2000 IP Core Renov Highland Square Jacksonville FL 1998 IP Core Re-Dev Julington Village (Race Track Road) Jacksonville FL 1999 IP Core Dev King's Crossing (Sun City) Tampa FL 1999 IP Core Dev Ocala Corners Tallahassee FL 2000 IP Core Dev Shoppes of Pebblebrooke Naples FL 2000 IP Core Dev Town Square Tampa FL 1999 IP Core Renov Willa Springs Orlando FL 2000 IP Core Re-Dev Cambridge Square Atlanta GA 2000 IP Core Renov Dunwoody Hall Atlanta GA 2000 IP Core Renov Orchard Square Atlanta GA 2000 IP Core Renov Fenton Marketplace Fenton MI 1999 IP Core Dev Olde Towne Plaza (Ballwin) St. Louis MO 2000 IP Core Dev Sedgefield Village Greensboro NC 2000 IP Core Dev Echelon Village Plaza Voorhees NJ 2000 IP Core Re-Dev Kingsdale Columbus OH 1998 IP Core Renov Kroger at New Albany Center (Hampstead Village) Columbus OH 1999 IP Core Dev Port of Portland Hillsboro OR 2000 IP Core Dev Sherwood Crossroads Sherwood OR 2000 IP Core Dev Fort Bend Market Houston TX 2000 IP Core Dev Keller Town Center Keller TX 1999 IP Core Dev Legacy Center Frisco TX 2000 IP Core Dev MacArthur Park Phase II Las Colinas TX 1999 IP Core Dev Prestonwood Park (Phase I) Plano TX 1997 IP Core Dev Tarrant Pkwy Plaza (Davis Crossing) N. Richland Hills TX 1999 IP Core Dev Trophy Club Plaza Trophy Club TX 1999 IP Core Dev Chesire Station Dale City VA 2000 IP Core Dev Cascade Plaza Seattle WA 1999 IP Core Re-Dev James Center Tacoma WA 1999 IP Core Re-Dev Seattle Fur Exchange Tukwila WA 2000 IP For Sale Re-Dev Dell Range Marketplace Cheyenne WY 1999 IP For Sale Dev Build-To-Suit Completed Various Stable In Process Various IP (e) Albertson's will own their own space - ------------------------------------------------------------------------------------------------------------------------------------ Total Completed 40 - ------------------------------------------------------------------------------------------------------------------------------------ Total In-Process 57 - ------------------------------------------------------------------------------------------------------------------------------------ In-Process Summary (Shopping Centers Only): - ------------------------------------------------------------------------------------------------------------------------------------ Total In-Process 44 - ----------------------------------------------------------------------------------------------------------------------------------- Total Core 37 Total For Sale 7 - ------------------------------------------------------------------------------------------------------------------------------------ Total Developments 29 Total Redevelopments 9 Total Renovations 6 - ------------------------------------------------------------------------------------------------------------------------------------ Total Consolidated 43 Total Unconsolidated 1 - ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------ Initial Acquisition Development/ Consolidated or Anchor Cost (Re-Dev and Redevelopment Property Name Unconsolidated Opens Renov only) Costs - ------------------------------------------------------------------------------------------------------------------------------------ Hawthorne Plaza Village Consolidated 11/01/99 -- 17,270,392 Monrovia Consolidated 02/01/00 -- 5,998,316 Santa Margarita Marketplace Consolidated 09/01/00 -- 23,400,000 Long Bch Corp Sq (Ralph's) Consolidated 10/01/00 -- 8,942,514 Woodmen Plaza Unconsolidated 07/14/99 -- 12,080,276 Briarcliff Village Consolidated 12/02/99 20,440,261 6,619,402 Waterford Shopping Center Consolidated 09/15/99 -- 11,491,039 Hebron Parkway Plaza Consolidated 10/01/99 -- 5,638,040 Vistoso Consolidated 08/01/00 -- 5,177,544 Ocotillo Consolidated 08/01/00 -- 7,058,514 South Mountain Consolidated 07/01/00 -- 3,353,277 Stonebridge Center Consolidated 06/01/00 -- 4,423,661 The Provinces Consolidated 07/01/00 -- 5,723,497 Campus Marketplace Consolidated 08/01/01 -- 25,329,708 Carson/Abalone Consolidated 06/01/01 -- 10,629,837 Corral Hollow Consolidated 09/01/01 -- 21,002,935 El Cerrito Plaza Consolidated 10/01/01 26,514,393 24,120,222 Plaza El Paseo Consolidated 10/01/01 -- 14,607,480 Prairie City Crossing (Folsom) Consolidated 12/01/00 -- 12,954,713 San Fernando Value Square Consolidated 10/01/87 25,778,000 150,293 Redlands Marketplace (Brach's Corner) Consolidated 12/22/00 -- 3,180,479 Fleming Island Phase II Consolidated 10/01/00 -- 4,529,715 Highland Square Consolidated 12/02/99 11,600,000 9,780,070 Julington Village (Race Track Road) Consolidated 05/25/00 -- 8,158,588 King's Crossing (Sun City) Consolidated 06/08/00 -- 6,751,862 Ocala Corners Consolidated 06/01/01 -- 6,759,254 Shoppes of Pebblebrooke Consolidated 07/01/01 -- 7,934,562 Town Square Consolidated 05/01/01 3,510,105 4,212,113 Willa Springs Consolidated 02/29/00 6,258,973 3,836,602 Cambridge Square Consolidated 10/01/99 3,791,617 1,497,712 Dunwoody Hall Consolidated 05/01/01 6,587,569 3,632,618 Orchard Square Consolidated 04/01/01 5,637,889 3,077,047 Fenton Marketplace Consolidated 03/01/01 -- 9,208,597 Olde Towne Plaza (Ballwin) Consolidated 12/01/01 -- 23,694,834 Sedgefield Village Consolidated 02/01/01 -- 4,712,981 Echelon Village Plaza Consolidated 09/01/01 -- 11,874,514 Kingsdale Consolidated 12/01/99 17,407,940 6,338,800 Kroger at New Albany Center (Hampstead Village) Consolidated 11/14/99 -- 8,814,149 Port of Portland Consolidated 01/01/02 -- 6,320,606 Sherwood Crossroads Consolidated 02/01/01 -- 7,033,102 Fort Bend Market Consolidated 11/01/01 -- 10,213,412 Keller Town Center Consolidated 12/01/99 -- 13,420,612 Legacy Center Consolidated 06/01/02 -- 9,050,712 MacArthur Park Phase II Consolidated 11/17/00 -- 26,020,045 Prestonwood Park (Phase I) Consolidated 01/26/00 -- 16,420,200 Tarrant Pkwy Plaza (Davis Crossing) Consolidated 07/26/00 -- 5,252,702 Trophy Club Plaza Consolidated 10/04/00 -- 14,895,300 Chesire Station Consolidated 09/01/01 -- 16,306,738 Cascade Plaza Consolidated 08/01/00 13,690,518 5,431,561 James Center Consolidated 11/01/99 12,300,000 8,022,042 Seattle Fur Exchange Consolidated 11/01/00 10,000,000 1,464,594 Dell Range Marketplace Unconsolidated 12/11/00 -- 9,732,371 Build-To-Suit Completed -- 66,383,367 In Process -- 45,438,510 (e) Albertson's will own their own space - ------------------------------------------------------------------------------------------------------------------------------------ Total Completed 20,440,261 157,823,346 - ------------------------------------------------------------------------------------------------------------------------------------ Total In-Process 143,077,004 457,548,685 - ------------------------------------------------------------------------------------------------------------------------------------ In-Process Summary (Shopping Centers Only): - ------------------------------------------------------------------------------------------------------------------------------------ Total In-Process 143,077,004 412,110,175 - ------------------------------------------------------------------------------------------------------------------------------------ Total Core 107,299,004 377,921,154 Total For Sale 35,778,000 34,189,021 - ------------------------------------------------------------------------------------------------------------------------------------ Total Developments 0 320,961,793 Total Redevelopments 106,141,884 67,860,377 Total Renovations 36,935,120 23,288,005 - ------------------------------------------------------------------------------------------------------------------------------------ Total Consolidated 143,077,004 402,377,804 Total Unconsolidated 0 9,732,371 - ------------------------------------------------------------------------------------------------------------------------------------

- ---------------------------------------------------------------------------------------------------------- Net Gross Gross Completed Completed Cost % Property Name Costs Costs Complete - ---------------------------------------------------------------------------------------------------------- Hawthorne Plaza Village 17,270,392 17,270,392 76% Monrovia 5,998,316 5,998,316 98% Santa Margarita Marketplace 23,400,000 23,400,000 76% Long Bch Corp Sq (Ralph's) 8,942,514 8,942,514 98% Woodmen Plaza 12,080,276 14,728,093 90% Briarcliff Village 27,059,663 28,088,639 95% Waterford Shopping Center 11,491,039 13,091,039 99% Hebron Parkway Plaza 5,638,040 7,180,520 98% Vistoso 5,177,544 5,877,544 35% Ocotillo 7,058,514 9,058,514 42% South Mountain 3,353,277 5,353,277 45% Stonebridge Center 4,423,661 5,223,661 69% The Provinces 5,723,497 6,923,497 59% Campus Marketplace 25,329,708 25,329,708 31% Carson/Abalone 10,629,837 10,629,837 44% Corral Hollow 21,002,935 22,082,935 27% El Cerrito Plaza 50,634,615 50,634,615 56% Plaza El Paseo 14,607,480 19,009,697 33% Prairie City Crossing (Folsom) 12,954,713 12,954,713 55% San Fernando Value Square 25,928,293 25,928,293 100% Redlands Marketplace (Brach's Corner) 3,180,479 5,192,979 69% Fleming Island Phase II 4,529,715 4,529,715 67% Highland Square 21,380,070 21,850,770 82% Julington Village (Race Track Road) 8,158,588 11,905,876 90% King's Crossing (Sun City) 6,751,862 7,294,885 87% Ocala Corners 6,759,254 6,759,254 5% Shoppes of Pebblebrooke 7,934,562 9,894,562 37% Town Square 7,722,218 7,722,218 68% Willa Springs 10,095,575 10,095,575 62% Cambridge Square 5,289,329 5,289,329 84% Dunwoody Hall 10,220,187 11,228,910 66% Orchard Square 8,714,936 9,829,120 66% Fenton Marketplace 9,208,597 10,208,597 34% Olde Towne Plaza (Ballwin) 23,694,834 23,694,834 46% Sedgefield Village 4,712,981 5,062,981 33% Echelon Village Plaza 11,874,514 11,874,514 67% Kingsdale 23,746,740 23,746,740 95% Kroger at New Albany Center (Hampstead Village) 8,814,149 9,904,149 98% Port of Portland 6,320,606 6,320,606 5% Sherwood Crossroads 7,033,102 7,033,102 67% Fort Bend Market 10,213,412 17,701,615 39% Keller Town Center 13,420,612 13,420,612 97% Legacy Center 9,050,712 13,827,202 36% MacArthur Park Phase II 26,020,045 26,020,045 68% Prestonwood Park (Phase I) 16,420,200 21,495,200 94% Tarrant Pkwy Plaza (Davis Crossing) 5,252,702 6,165,448 97% Trophy Club Plaza 14,895,300 14,895,300 79% Chesire Station 16,306,738 16,306,738 31% Cascade Plaza 19,122,079 19,122,079 86% James Center 20,322,042 20,322,042 98% Seattle Fur Exchange 11,464,594 11,464,594 89% Dell Range Marketplace 9,732,371 11,072,371 51% Build-To-Suit Completed 66,383,367 68,287,224 98% In Process 43,698,459 45,360,459 65% (e) Albertson's will own their own space - ---------------------------------------------------------------------------------------------------------- Total Completed 178,263,607 186,986,737 92% - ---------------------------------------------------------------------------------------------------------- Total In-Process 598,885,638 645,618,712 63% - ---------------------------------------------------------------------------------------------------------- In-Process Summary (Shopping Centers Only): Total In-Process 555,187,179 600,258,253 63% - ---------------------------------------------------------------------------------------------------------- Total Core 485,220,158 526,822,963 61% Total For Sale 69,967,021 73,435,290 78% - ---------------------------------------------------------------------------------------------------------- Total Developments 320,961,793 361,426,760 50% Total Redevelopments 174,002,261 176,485,461 76% Total Renovations 60,223,125 62,346,032 79% - ---------------------------------------------------------------------------------------------------------- Total Consolidated 545,454,808 589,185,882 61% Total Unconsolidated 9,732,371 11,072,371 51% - ---------------------------------------------------------------------------------------------------------- 11

- ------------------------------------------------------------------------------------------------------------------------------------ Regency Realty Development Status Report September 30, 2000 (Sorted by Status and State) - ------------------------------------------------------------------------------------------------------------------------------------ Estimated Incremental Stabilized Costs NOI Yield NOI Major Anchor Property Name to Complete (Renov only) Yield Tenant - ------------------------------------------------------------------------------------------------------------------------------------ Hawthorne Plaza Village 4,111,209 10.98% Lucky's Monrovia 95,491 11.47% Ross, David's Bridal Santa Margarita Marketplace 5,545,201 12.21% Marshalls, Linens 'n Things, Staples Long Bch Corp Sq (Ralph's) 142,240 11.14% Ralph's Woodmen Plaza 1,479,052 10.20% King Soopers Briarcliff Village 1,285,084 4.52% 8.05% Publix Waterford Shopping Center 122,003 9.69% Kroger Hebron Parkway Plaza 115,896 12.85% Albertsons (e) Vistoso 3,846,229 11.30% Safeway Ocotillo 5,215,938 11.30% Safeway South Mountain 2,929,582 11.30% Safeway Stonebridge Center 1,641,763 11.07% Safeway The Provinces 2,853,891 11.30% Safeway Campus Marketplace 17,489,661 10.41% Ralph's, Long's Carson/Abalone 5,917,649 11.77% Ralph's, Hollywood Video Corral Hollow 16,224,329 11.02% Safeway, Orchard, Long's El Cerrito Plaza 22,496,403 10.44% Albertson's, Long's, Ross, Bally's Plaza El Paseo 12,697,601 12.25% Gelson's Prairie City Crossing (Folsom) 5,855,745 10.06% Safeway San Fernando Value Square 4,314 9.83% Home Depot, Sam's Club Redlands Marketplace (Brach's Corner) 1,621,978 10.36% Albertsons (e) Fleming Island Phase II 1,491,759 6.49% 6.49% Stein Mart Highland Square 3,910,168 9.80% Winn-Dixie, Publix Julington Village (Race Track Road) 1,151,928 11.49% Publix King's Crossing (Sun City) 955,015 11.12% Publix Ocala Corners 6,426,712 11.54% Publix Shoppes of Pebblebrooke 6,280,621 10.67% Publix Town Square 2,481,001 15.99% 13.07% TBD Willa Springs 3,836,602 9.30% Publix Cambridge Square 846,792 19.78% 14.08% Harris Teeter Dunwoody Hall 3,776,491 10.26% 10.27% Publix Orchard Square 3,336,021 2.82% 9.39% Publix Fenton Marketplace 6,706,278 10.29% Farmer Jack Olde Towne Plaza (Ballwin) 12,851,460 10.70% Lowes Sedgefield Village 3,396,987 10.80% Food Lion Echelon Village Plaza 3,878,327 10.82% Genaurdi's Kingsdale 1,226,226 6.78% 10.02% Big Bear Kroger at New Albany Center (Hampstead Village) 209,581 10.21% Kroger Port of Portland 5,982,008 9.26% Albertson's Sherwood Crossroads 2,333,491 10.09% Safeway Fort Bend Market 10,841,339 10.73% Kroger Keller Town Center 346,387 10.41% Tom Thumb Legacy Center 8,835,119 11.53% Albertson's MacArthur Park Phase II 8,250,174 9.87% Kroger Signature Prestonwood Park (Phase I) 1,367,281 11.64% Albertsons (e) Tarrant Pkwy Plaza (Davis Crossing) 186,941 10.33% Albertsons (e) Trophy Club Plaza 3,193,618 11.20% Tom Thumb Chesire Station 11,251,206 10.26% Safeway Cascade Plaza 2,633,653 10.38% Safeway James Center 419,033 9.95% Fred Meyers, Rite Aid Seattle Fur Exchange 1,304,191 10.65% Musician's Friend, Bed Bath Beyond Dell Range Marketplace 5,464,338 10.00% King Soopers Build-To-Suit Completed 1,663,683 10.03% In Process 15,995,388 9.78% (e) Albertson's will own their own space - ------------------------------------------------------------------------------------------------------------------------------------ Total Completed 14,559,858 4.52% 10.29% - ------------------------------------------------------------------------------------------------------------------------------------ Total In-Process 239,961,220 9.25% 10.49% - ------------------------------------------------------------------------------------------------------------------------------------ In-Process Summary (Shopping Centers Only): Total In-Process 223,965,832 9.25% 10.55% - ------------------------------------------------------------------------------------------------------------------------------------ Total Core 207,549,032 9.25% 10.54% Total For Sale 16,416,800 n/a 10.61% - ------------------------------------------------------------------------------------------------------------------------------------ Total Developments 170,702,873 n/a 10.77% Total Redevelopments 40,104,669 n/a 10.18% Total Renovations 13,158,290 9.25% 10.46% - ------------------------------------------------------------------------------------------------------------------------------------ Total Consolidated 218,501,494 9.25% 10.56% Total Unconsolidated 5,464,338 n/a 10.00% - ------------------------------------------------------------------------------------------------------------------------------------

- ----------------------------------------------------------------------------------------------------------------------------------- Gross Company Anchor Center Owned % Property Name GLA GLA GLA Leased - ------------------------------------------------------------------------------------------------------------------------------------ Hawthorne Plaza Village 65,230 99,405 99,405 95% Monrovia 40,187 48,187 48,187 100% Santa Margarita Marketplace 90,209 153,460 153,460 100% Long Bch Corp Sq (Ralph's) 50,923 50,923 50,923 100% Woodmen Plaza 69,913 104,755 104,755 92% Briarcliff Village 43,454 183,755 183,755 96% Waterford Shopping Center 60,202 91,921 91,921 92% Hebron Parkway Plaza 62,322 109,335 47,013 95% Vistoso 55,255 90,695 34,778 17% Ocotillo 55,255 96,089 40,765 19% South Mountain 55,256 81,597 26,341 38% Stonebridge Center 55,250 85,485 30,235 12% The Provinces 55,256 89,492 34,236 15% Campus Marketplace 74,325 145,580 145,580 40% Carson/Abalone 58,300 63,300 63,300 92% Corral Hollow 138,230 168,048 168,048 39% El Cerrito Plaza 65,015 361,630 361,630 41% Plaza El Paseo 30,000 96,150 96,150 31% Prairie City Crossing (Folsom) 55,255 78,555 78,555 78% San Fernando Value Square 196,911 229,353 229,353 97% Redlands Marketplace (Brach's Corner) 55,922 86,284 30,317 18% Fleming Island Phase II 34,000 40,487 40,487 87% Highland Square 84,314 262,499 262,499 82% Julington Village (Race Track Road) 51,420 81,820 81,820 88% King's Crossing (Sun City) 51,420 75,020 75,020 90% Ocala Corners 61,166 86,766 86,766 70% Shoppes of Pebblebrooke 61,166 76,766 76,766 80% Town Square 14,650 44,679 44,679 17% Willa Springs 44,000 93,539 93,539 98% Cambridge Square 32,922 69,649 69,649 72% Dunwoody Hall 44,271 89,509 89,509 82% Orchard Square 44,271 93,221 93,221 82% Fenton Marketplace 53,739 73,351 73,351 81% Olde Towne Plaza (Ballwin) 135,197 286,547 286,547 58% Sedgefield Village 37,930 56,630 56,630 67% Echelon Village Plaza 48,750 88,867 88,867 85% Kingsdale 56,006 270,470 270,470 72% Kroger at New Albany Center (Hampstead Village) 63,805 91,805 91,805 91% Port of Portland 57,370 67,240 67,240 85% Sherwood Crossroads 55,150 87,750 87,750 63% Fort Bend Market 63,373 103,373 103,373 61% Keller Town Center 63,631 114,822 114,822 85% Legacy Center 64,843 125,065 60,222 5% MacArthur Park Phase II 63,373 198,600 198,600 90% Prestonwood Park (Phase I) 62,322 163,294 100,972 60% Tarrant Pkwy Plaza (Davis Crossing) 64,400 97,479 33,079 84% Trophy Club Plaza 63,654 125,063 125,063 72% Chesire Station 55,256 100,641 100,641 61% Cascade Plaza 49,440 217,817 217,817 91% James Center 85,023 140,500 140,500 89% Seattle Fur Exchange 62,995 84,380 84,380 74% Dell Range Marketplace 61,056 87,771 87,771 76% Build-To-Suit Completed 335,346 335,346 335,346 100% In Process 150,591 150,591 150,591 98% (e) Albertson's will own their own space - ------------------------------------------------------------------------------------------------------------------------------------ Total Completed 817,786 1,177,087 1,114,765 97% - ------------------------------------------------------------------------------------------------------------------------------------ Total In-Process 2,891,734 5,418,269 4,893,734 70% - ------------------------------------------------------------------------------------------------------------------------------------ In-Process Summary (Shopping Centers Only): - ------------------------------------------------------------------------------------------------------------------------------------ Total In-Process 2,741,143 5,267,678 4,743,143 69% - ------------------------------------------------------------------------------------------------------------------------------------ Total Core 2,190,029 4,545,096 4,140,928 66% Total For Sale 551,114 722,582 602,215 84% - ------------------------------------------------------------------------------------------------------------------------------------ Total Developments 1,822,653 3,094,794 2,626,226 64% Total Redevelopments 692,370 1,564,869 1,508,902 76% Total Renovations 226,120 608,015 608,015 72% - ------------------------------------------------------------------------------------------------------------------------------------ Total Consolidated 2,680,087 5,179,907 4,655,372 69% Total Unconsolidated 61,056 87,771 87,771 76% - ------------------------------------------------------------------------------------------------------------------------------------ 12

- ------------------------------------------------------------------------------------------------------------------------------------ Regency Realty Investment in Unconsolidated Joint Ventures September 30, 2000 - ------------------------------------------------------------------------------------------------------------------------------------ Total Total Property Name Legal Entity Assets Debt Lender Maturity - ------------- ------------ ------ ----- ------ -------- Shiloh Springs T & M Shiloh Development Company 10,993,649 n/a n/a n/a Ballwin Olde Towne Plaza Regency/DS Ballwin, LLC 10,371,886 n/a n/a n/a Corral Hollow/Tracy RRG-RMC Tracy, LLC 6,008,740 n/a n/a n/a Village Center OTR/Regency Texas Realty Holdings, L.P. 13,202,615 n/a n/a n/a Creekside OTR/Regency Texas Realty Holdings, L.P. 8,554,109 n/a n/a n/a Plaza El Paseo K & G / Regency II, LLC 6,313,032 n/a n/a n/a Del Range (Cheyenne, WY) R & KS Dell Range Development, LLC 1,953,926 n/a n/a n/a Woodmen and Rangewood M & KS Woodman Development, LLC 13,444,885 9,771,012 Star Bank 10/01/00 Ocean East (1) Regency Ocean East Partnership, L.P. 7,926,363 5,147,852 Wachovia Bank 11/25/03 Aspen Park R & KS Aspen Park Development, LLC 258,655 n/a n/a n/a Creekside Plase II T & M Arlington Development Company n/a n/a n/a n/a Bethany Lake R & M Western Partnership, L.P. (note) n/a n/a n/a n/a Cheyenne Meadows R & M Western Partnership, L.P. (note) n/a n/a n/a n/a Frisco Prestonbrook R & M Western Partnership, L.P. (note) n/a n/a n/a n/a Jackson Creek R & M Western Partnership, L.P. (note) n/a n/a n/a n/a Lloyd King Center R & M Western Partnership, L.P. (note) n/a n/a n/a n/a Stroh Ranch R & M Western Partnership, L.P. (note) n/a n/a n/a n/a ------------- ------------- $79,027,860 $14,918,864 ============= ============= RRC Regency Regency Ownership Share Investment Equity Property Name Interest of Debt 09/30/00 Pick-up - ------------- -------- ------- -------- ------- Shiloh Springs 50.00% n/a 11,361,226 (152,292) Ballwin Olde Towne Plaza 50.00% n/a 11,319,266 0 Corral Hollow/Tracy 50.00% n/a 9,009,031 2,815,944 Village Center 30.00% n/a 8,440,454 26,888 Creekside 30.00% n/a 7,839,330 46,112 Plaza El Paseo 50.00% n/a 6,312,096 0 Del Range (Cheyenne, WY) 50.00% n/a 5,662,058 (2,088) Woodmen and Rangewood 50.00% 4,885,506 3,312,573 (192,248) Ocean East (1) 25.00% 1,286,963 2,143,633 14,455 Aspen Park 50.00% n/a 759,765 0 Creekside Plase II 50.00% n/a 0 (12,553) Bethany Lake 50.00% n/a 0 (9,354) Cheyenne Meadows 50.00% n/a 0 256,890 Frisco Prestonbrook 50.00% n/a 0 37,761 Jackson Creek 50.00% n/a 0 (46,329) Lloyd King Center 50.00% n/a 0 (55,662) Stroh Ranch 50.00% n/a 0 137,926 ------------ ------------ ------------- $6,172,469 $66,159,432 $2,865,450 ============ ============ ============= note: effective June 30, 2000, Regency acquired 100% ownership interest of R&M Partnership and consolidated the venture. 13

REGENCY REALTY CORPORATION SECURITIES ISSUED OTHER THAN COMMON STOCK ------------------------------------------------------------------------ Security Issued: SERIES 2 CUMULATIVE CONVERTIBLE - --------------- PREFERRED STOCK o Issuance Date - February 29, 1999 o Shares Outstanding - 1,487,507 o Conversion - Convertible into Common Stock 1:1 o Dividend - Equal to Current Common Stock Security Issued: $384 MILLION PERPETUAL PREFERRED UNITS - --------------- - REGENCY CENTERS, L.P. o Issuance Dates - Jun-98, Sep-99, May/Sept-00 o Units Outstanding - 4,640,000 o Conversion - None o Distribution Average - 8.72% Security Issued: REGENCY CENTERS, L.P. OPERATING PARTNERSHIP UNITS - --------------- (including Parkway and Delk Spectrum Down-REITs) o Issuance Date - Variable o Units Outstanding - 1,684,632 OP Units o Conversion - Convertible into Common Stock 1:1 o Dividend - Equal to Current Common Dividend 14

- ------------------------------------------------------------------------------------------------------------------------------------ Regency Realty Summary of Real Estate (excluding Build to Suit Projects) Sep-00 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Company Owned GLA Percent Leased - ------------------------------------------------------------------------------------------------------------------------------------ Yr Const Grocery or last Year Anchor Property Name State MSA Rnvtn Acquired Dec-99 Sep-00 Dec-99 Sep-00 GLA - ------------------------------------------------------------------------------------------------------------------------------------ West County Marketplace AL Birmingham 1987 1993 129,155 129,155 100.0% 98.1% 42,848 Village in Trussville, The AL Birmingham 1987 1993 69,280 69,280 97.7% 92.6% 38,380 Country Club Ala AL Montgomery 1991 1993 67,622 67,622 100.0% 99.0% 35,922 The Marketplace - Alexander City AL Alexander City 1987 1993 162,723 162,723 100.0% 98.3% 47,668 Bonner's Point AL Roanoke 1985 1993 87,281 87,282 98.6% 100.0% 34,700 - ------------------------------------------------------------------------------------------------------------------------------------ The Provinces Shopping Ctr AZ Phoenix 2000 2000 0 34,236 NA 15.3% 55,256 Stonebridge Center AZ Phoenix 2000 2000 0 30,235 NA 12.1% 55,250 South Mountain Shopping Ctr AZ Phoenix 2000 2000 0 26,341 NA 37.6% 55,256 Pima Crossing AZ Phoenix 1996 1999 234,585 236,585 99.5% 100.0% 46,955 Paseo Village AZ Phoenix 1998 1999 92,399 92,399 100.0% 98.7% 23,800 Vistoso Center AZ Tucson 2000 2000 0 34,778 NA 16.7% 55,255 - ------------------------------------------------------------------------------------------------------------------------------------ Woodman - Van Nuys CA Los Angeles 1992 1999 107,570 107,570 96.3% 96.3% 77,648 San Fernando Value Square CA Los Angeles 2000 2000 0 229,353 NA 96.7% 0 Plaza Hermosa CA Los Angeles 1984 1999 94,939 94,939 100.0% 100.0% 36,800 Plaza de Hacienda CA Los Angeles 1991 1999 125,602 127,132 95.6% 100.0% 81,736 Monrovia CA Los Angeles 1999 1999 48,187 0 96.9% 0.0% 0 Long Beach Corporate Square CA Los Angeles 1999 1999 54,923 0 100.0% 0.0% 0 Hawthorne Plaza CA Los Angeles 1999 1999 92,496 0 99.5% 0.0% 0 El Camino Shopping Center CA Los Angeles 1995 1999 135,883 135,883 99.3% 100.0% 35,650 Crossroads Plaza CA Los Angeles 1988 1999 60,638 60,638 100.0% 100.0% 60,638 Carson and Abalone CA Los Angeles 2000 2000 0 63,300 NA 92.1% 58,300 Tassajara Crossing CA Oakland 1990 1999 141,790 146,188 98.1% 100.0% 56,496 San Leandro Plaza CA Oakland 1982 1999 50,853 50,853 100.0% 99.2% 38,250 Encina Grande CA Oakland 1965 1999 102,499 102,499 100.0% 100.0% 22,500 Diablo Plaza CA Oakland 1982 1999 63,265 63,265 100.0% 100.0% 53,000 Country Club Village - Calif CA Oakland 1994 1999 111,251 111,251 100.0% 100.0% 50,320 Santa Margarita Marketplace CA Orange County 1999 1999 152,260 0 51.9% 0.0% 0 Santa Ana Downtown Plaza CA Orange County 1987 1999 100,305 100,305 100.0% 81.7% 37,972 Rona Plaza CA Orange County 1989 1999 51,779 51,779 100.0% 100.0% 37,194 Plaza El Paseo CA Orange County 2000 2000 0 96,150 NA 31.2% 30,000 Newland Center CA Orange County 1985 1999 166,492 166,492 97.1% 96.1% 58,000 Morningside Plaza CA Orange County 1996 1999 91,599 91,600 100.0% 97.7% 42,630 Heritage Plaza CA Orange County 1981 1999 231,883 231,883 99.9% 99.4% 44,376 Bristol & Warner Shopping Ctr CA Orange County 1998 1999 121,677 121,679 95.6% 92.0% 51,260 The Promenade CA Sacramento 1989 1999 136,022 136,022 96.2% 96.2% 43,230 Prairie City Crossing CA Sacramento 1999 1999 0 78,555 NA 77.5% 55,255 Arden Square CA Sacramento 1994 1999 100,162 100,162 94.8% 94.0% 0 Twin Peaks Plaza CA San Diego 1988 1999 198,139 198,139 97.6% 99.0% 44,686 Friars-Mission Center CA San Diego 1989 1999 145,608 145,608 100.0% 93.7% 45,000 El Norte Parkway Plaza CA San Diego 1984 1999 87,990 87,990 96.9% 100.0% 42,315 Costa Verde CA San Diego 1988 1999 178,619 179,319 100.0% 98.9% 40,000 Campus Marketplace CA San Diego 2000 2000 0 145,580 NA 39.5% 57,541 Woodside Central Plaza CA San Francisco 1993 1999 80,598 80,591 100.0% 100.0% 0 Strawflower Village CA San Francisco 1985 1999 78,827 78,827 95.4% 100.0% 33,753 Sequoia Station CA San Francisco 1996 1999 103,388 103,388 99.5% 99.8% 62,050 El Cerrito Plaza CA San Francisco 2000 2000 0 361,630 NA 41.4% 32,924 West Park Plaza CA San Jose 1996 1999 88,103 88,103 100.0% 100.0% 24,712 Loehmann's Plaza Calif CA San Jose 1983 1999 113,309 113,309 94.9% 100.0% 53,000 Blossom Valley Shopping Ctr CA San Jose 1990 1999 91,969 93,315 96.8% 100.0% 34,208 Corral Hollow CA Stockton 2000 2000 0 168,048 NA 39.1% 65,715 Westlake Plaza and Center CA Ventura 1975 1999 190,655 190,656 98.9% 100.0% 41,300 Ventura Village Shopping Ctr CA Ventura 1984 1999 76,070 76,070 95.7% 95.7% 42,500 Oakbrook Plaza CA Ventura 1982 1999 83,278 83,278 94.4% 95.6% 43,842 - ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------ Grocery Property Name Anchor Drug Store GLA Other Anchor or Major - ------------------------------------------------------------------------------------------------------------------------ West County Marketplace Food World Rite Aid Wal-Mart Village in Trussville, The Bruno's CVS Drug -- Country Club Ala Winn-Dixie Rite Aid -- The Marketplace - Alexander City Winn-Dixie -- Wal-Mart Bonner's Point Winn-Dixie -- Wal-Mart - ------------------------------------------------------------------------------------------------------------------------ The Provinces Shopping Ctr Safeway -- Stonebridge Center Safeway -- South Mountain Shopping Ctr Safeway Pima Crossing Basha's -- Stein Mart, Bally Total Fitness Paseo Village ABCO Walgreen's -- Vistoso Center Safeway -- -- - ------------------------------------------------------------------------------------------------------------------------ Woodman - Van Nuys Gigante -- -- San Fernando Value Square -- -- Home Depot, Sam's Club Plaza Hermosa Von's Food & Drug Sav-On Drugs -- Plaza de Hacienda Food 4 Less -- -- Monrovia -- -- -- Long Beach Corporate Square -- -- -- Hawthorne Plaza -- -- -- El Camino Shopping Center Von's Food & Drug Sav-On Drugs -- Crossroads Plaza Gigante -- -- Carson and Abalone Ralph's -- -- Tassajara Crossing Safeway Long's Drugs Ace Hardware San Leandro Plaza Safeway -- -- Encina Grande Safeway Walgreen's -- Diablo Plaza Safeway Long's Drugs Jo-Ann Fabrics Country Club Village - Calif Ralph's Long's Drugs Blockbuster Video Santa Margarita Marketplace -- -- -- Santa Ana Downtown Plaza Food 4 Less -- -- Rona Plaza Food 4 Less -- -- Plaza El Paseo Gelson's -- Newland Center Lucky's -- -- Morningside Plaza Albertson's -- -- Heritage Plaza Ralph's Sav-On Drugs Irvine Ace Hardware Bristol & Warner Shopping Ctr Food 4 Less -- Banner Central The Promenade Bel Air Market Long's Drugs True Value Prairie City Crossing Safeway -- Arden Square -- -- Jo-Ann Fabrics, Office Max Twin Peaks Plaza Lucky's -- Target Friars-Mission Center Ralph's Long's Drugs -- El Norte Parkway Plaza Von's Food & Drug -- Our Fitness Costa Verde Albertson's -- Petco, Bookstar Campus Marketplace Ralph's Long's Drugs Woodside Central Plaza -- -- Marshalls Strawflower Village Safeway Long's Drugs -- Sequoia Station Safeway Long's Drugs Barnes and Noble, Old Navy El Cerrito Plaza Lucky's Long's Drugs West Park Plaza Safeway Rite Aid -- Loehmann's Plaza Calif Safeway Long's Drugs Loehmann's Blossom Valley Shopping Ctr Safeway Long's Drugs -- Corral Hollow Safeway -- Westlake Plaza and Center Von's Food & Drug Long's/Save -On Drugs -- Ventura Village Shopping Ctr Von's Food & Drug -- -- Oakbrook Plaza Albertson's Long's Drugs -- - ------------------------------------------------------------------------------------------------------------------------ 16

- ------------------------------------------------------------------------------------------------------------------------------------ Regency Realty Summary of Real Estate (excluding Build to Suit Projects) Sep-00 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Company Owned GLA Percent Leased - ------------------------------------------------------------------------------------------------------------------------------------ Yr Const Grocery or last Year Anchor Property Name State MSA Rnvtn Acquired Dec-99 Sep-00 Dec-99 Sep-00 GLA - ------------------------------------------------------------------------------------------------------------------------------------ Woodmen Plaza CO Colorado Spring 1998 1998 97,913 104,755 85.7% 92.0% 69,913 Jackson Creek Crossing CO Colorado Spring 1999 1998 85,259 85,263 98.4% 100.0% 69,913 Cheyenne Meadows Center CO Colorado Spring 1998 1998 89,893 89,893 100.0% 97.7% 69,105 Stroh Ranch Center CO Denver 1998 1998 86,432 86,432 100.0% 100.0% 69,719 Lloyd King Center CO Denver 1998 1998 83,326 83,326 100.0% 100.0% 61,040 Littleton Square CO Denver 1997 1999 94,257 94,257 100.0% 97.7% 49,751 Leetsdale Marketplace CO Denver 1993 1999 119,916 119,916 98.7% 98.7% 62,600 Buckley Square CO Denver 1978 1999 116,206 111,146 93.2% 100.0% 62,400 Boulevard Center CO Denver 1986 1999 92,483 92,483 95.2% 95.7% 52,700 Redlands Marketplace CO Grand Junction 1999 1999 37,817 30,317 36.3% 18.3% 55,922 - ------------------------------------------------------------------------------------------------------------------------------------ Pike Creek Shopping Center DE Wilmington 1981 1998 232,754 228,169 96.3% 98.6% 49,069 - ------------------------------------------------------------------------------------------------------------------------------------ Palm Harbour Shopping Ctr FL Daytona Beach 1991 1996 172,758 172,758 90.7% 91.9% 45,254 Welleby Plaza FL Fort Lauderdale 1982 1996 109,949 109,949 89.9% 91.6% 46,779 Palm Trails Plaza FL Fort Lauderdale 1998 1997 76,067 76,067 98.3% 96.6% 59,562 Town Center at Martin Downs FL Fort Pierce 1996 1996 64,546 64,546 93.5% 100.0% 56,146 Ocean East Mall FL Fort Pierce 1997 1996 113,328 113,328 92.9% 94.0% 38,100 Ocean Breeze Plaza FL Fort Pierce 1985 1993 108,209 108,209 85.4% 80.8% 36,464 Martin Downs Village Shoppes FL Fort Pierce 1998 1993 49,773 49,773 93.0% 97.6% 0 Martin Downs Village Center FL Fort Pierce 1985 1993 121,946 121,946 91.7% 95.2% 0 East Port Plaza FL Fort Pierce 1991 1997 235,842 235,842 93.4% 95.7% 42,112 Newberry Square FL Gainesville 1986 1994 180,524 180,524 96.8% 97.0% 39,795 Millhopper Shopping Center FL Gainesville 1974 1993 84,065 84,065 97.0% 100.0% 37,244 Regency Court FL Jacksonville 1992 1997 218,665 218,665 96.6% 94.6% 0 Pine Tree Plaza FL Jacksonville 1999 1997 60,787 60,787 98.4% 100.0% 37,866 Old St. Augustine Plaza FL Jacksonville 1990 1996 170,220 175,459 97.6% 100.0% 51,832 Julington Village FL Jacksonville 1999 1999 81,820 81,820 69.9% 87.5% 51,420 Highlands Square Shopping Ctr FL Jacksonville 1999 1998 262,549 262,499 80.4% 82.2% 84,314 Fleming Island Shopping Ctr FL Jacksonville 1994 1998 80,205 80,205 100.0% 98.5% 47,955 Fleming Island Phase II FL Jacksonville 2000 2000 0 40,487 NA 87.4% 0 Courtyard, The FL Jacksonville 1987 1993 67,794 137,256 12.7% 100.0% 62,771 Bolton Plaza FL Jacksonville 1988 1994 172,938 172,938 100.0% 100.0% 0 Anastasia Plaza FL Jacksonville 1988 1993 102,342 102,342 90.2% 92.7% 48,555 University Market Place FL Miami 1990 1993 129,121 129,121 78.4% 76.2% 63,139 Tamiami Trail Plaza FL Miami 1987 1997 110,867 110,867 94.9% 96.5% 42,112 Shoppes at 104 FL Miami 1990 1998 108,189 108,190 95.4% 98.0% 46,368 North Miami Shopping Ctr FL Miami 1988 1993 42,500 42,500 100.0% 75.3% 32,000 Garden Square Shopping Ctr FL Miami 1991 1997 90,033 90,258 94.0% 98.6% 42,112 Aventura FL Miami 1974 1994 102,876 102,876 100.0% 98.7% 35,908 Shoppes of Pebblebrooke FL Naples 2000 2000 0 76,766 NA 79.7% 61,166 Berkshire Commons FL Naples 1992 1994 106,354 106,354 98.5% 100.0% 65,537 Willa Springs FL Orlando 1981 2000 0 93,539 NA 97.5% 44,271 Mariner's Village Shopping Ctr FL Orlando 1986 1997 117,665 117,665 94.4% 93.6% 45,500 Mainstreet Square Shopping Ctr FL Orlando 1988 1997 107,159 107,159 93.0% 94.7% 56,000 Ensley Square FL Pensacola 1977 1997 62,362 62,363 97.3% 24.5% 0

- ------------------------------------------------------------------------------------------------------------------------------------ Regency Realty Summary of Real Estate (excluding Build to Suit Projects) Sep-00 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ Company Owned GLA Percent Leased - ------------------------------------------------------------------------------------------------------------------------------------ Yr Const Grocery or last Year Anchor Property Name State MSA Rnvtn Acquired Dec-99 Sep-00 Dec-99 Sep-00 GLA - ------------------------------------------------------------------------------------------------------------------------------------ Peachland Promenade FL Punta Gorda 1991 1995 82,082 82,082 89.9% 90.4% 48,890 Beneva Village Shops FL Sarasota 1987 1998 141,532 141,532 96.0% 94.3% 42,112 South Monroe Commons FL Tallahassee 1998 1996 80,188 68,840 95.5% 100.0% 48,466 Ocala Corners FL Tallahassee 2000 2000 0 86,766 NA 70.5% 61,166 Carriage Gate FL Tallahassee 1978 1994 76,833 76,833 78.6% 69.5% 0 Village Center 6 -Tampa FL Tampa 1993 1995 174,780 174,781 90.2% 90.1% 36,434 University Collection FL Tampa 1984 1996 106,627 106,627 82.6% 82.7% 40,143 Town Square FL Tampa 1999 1997 43,796 44,679 0.0% 16.8% 0 Terrace Walk FL Tampa 1990 1993 50,926 50,926 41.3% 80.8% 0 Regency Square at Brandon FL Tampa 1986 1993 341,446 341,448 87.7% 92.8% 0 Market Place - St. Petersburg FL Tampa 1983 1995 86,496 90,296 100.0% 86.4% 36,464 Kings Crossing - Sun City FL Tampa 1999 1999 75,020 75,020 68.5% 90.4% 51,420 Center of Seven Springs FL Tampa 1986 1994 162,580 162,580 86.7% 85.7% 35,000 Bloomingdale Square FL Tampa 1987 1998 267,935 267,935 95.5% 98.7% 39,795 Wellington Town Square FL West Palm Beach 1982 1996 105,150 105,150 95.8% 99.1% 36,464 Wellington Market Place FL West Palm Beach 1990 1995 178,155 171,558 90.7% 96.7% 46,475 Tequesta Shoppes FL West Palm Beach 1986 1996 109,766 109,937 93.4% 89.3% 39,795 Chasewood Storage FL West Palm Beach 1986 1993 42,810 42,810 100.0% 100.0% 0 Chasewood Plaza FL West Palm Beach 1986 1993 141,034 141,034 91.0% 87.8% 39,795 Boynton Lakes Plaza FL West Palm Beach 1993 1997 130,925 130,925 100.0% 97.8% 56,000 - ------------------------------------------------------------------------------------------------------------------------------------ Trowbridge Crossing GA Atlanta 1997 1997 62,558 62,558 96.3% 98.3% 37,888 Sandy Springs Village GA Atlanta 1997 1997 45,039 45,040 100.0% 100.0% 0 Sandy Plains Village I & II GA Atlanta 1992 1996 175,035 175,035 92.1% 93.2% 60,009 Russell Ridge GA Atlanta 1995 1994 98,556 98,558 100.0% 100.0% 63,296 Roswell Village GA Atlanta 1997 1997 143,980 143,980 97.7% 90.7% 37,888 Rivermont Station GA Atlanta 1996 1997 90,267 90,267 100.0% 100.0% 58,261 Powers Ferry Village GA Atlanta 1994 1997 78,995 78,995 99.9% 99.9% 47,955 Powers Ferry Square GA Atlanta 1987 1997 97,809 97,812 97.1% 96.6% 7,216 Paces Ferry Plaza GA Atlanta 1987 1997 61,693 61,696 92.3% 93.5% 0 Orchard Square GA Atlanta 1987 1995 85,941 93,222 52.3% 82.2% 44,271 Memorial Bend GA Atlanta 1995 1997 182,781 182,782 92.4% 90.0% 56,146 Lovejoy Station GA Atlanta 1995 1997 77,336 77,336 100.0% 98.2% 47,955 Loehmann's Plaza Georgia GA Atlanta 1986 1997 137,635 137,635 95.7% 100.0% 0 Dunwoody Village GA Atlanta 1975 1997 114,658 114,658 92.5% 64.0% 0 Dunwoody Hall GA Atlanta 1986 1997 82,527 89,509 48.4% 82.4% 44,271 Delk Spectrum GA Atlanta 1991 1998 100,880 100,880 100.0% 100.0% 45,044 Cumming 400 GA Atlanta 1994 1997 126,899 126,900 93.7% 98.8% 56,146 Cromwell Square GA Atlanta 1990 1997 70,282 70,282 95.1% 95.1% 0 Cambridge Square Shopping Ctr GA Atlanta 1979 1996 69,650 69,649 76.4% 71.8% 32,922 Buckhead Court GA Atlanta 1984 1997 55,227 55,229 91.3% 97.5% 0 Briarcliff Village GA Atlanta 1990 1997 183,752 183,755 92.3% 95.9% 43,454 Briarcliff LaVista Shopping Ctr GA Atlanta 1962 1997 41,098 39,203 100.0% 100.0% 0 Braelinn Village GA Atlanta 1991 1997 226,522 226,525 97.0% 99.6% 63,986 Ashford Place GA Atlanta 1993 1997 53,345 53,346 100.0% 100.0% 0 LaGrange Marketplace GA Augusta-Aiken 1989 1993 76,327 76,327 95.2% 93.8% 46,733 Parkway Station GA Macon 1983 1996 94,290 94,290 85.0% 90.7% 42,130 Evans Crossing Shopping Ctr GA Augusta-Aiken 1993 1998 83,681 83,681 100.0% 100.0% 62,580 - ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------ Regency Realty Summary of Real Estate (excluding Build to Suit Projects) Sep-00 - ------------------------------------------------------------------------------------------------------------------------------------ Company Owned GLA Percent Leased - ------------------------------------------------------------------------------------------------------------------------------------ Yr Const Grocery or last Year Anchor Property Name State MSA Rnvtn Acquired Dec-99 Sep-00 Dec-99 Sep-00 GLA - ------------------------------------------------------------------------------------------------------------------------------------ Hinsdale Lake Commons IL Chicago 1986 1998 178,600 178,601 85.9% 86.4% 69,540 - ------------------------------------------------------------------------------------------------------------------------------------ Silverlake Shopping Center KY Cincinnati 1988 1998 100,246 99,286 93.4% 96.3% 60,000 Franklin Square Shopping Ctr KY Lexington 1988 1998 205,061 205,061 91.8% 88.0% 50,499 - ------------------------------------------------------------------------------------------------------------------------------------ Waterford Towne Center MI Detroit 1998 1998 91,921 91,921 72.6% 91.6% 60,202 Lakeshore Village Shopping Ctr MI Detroit 1996 1998 85,395 85,940 98.7% 94.7% 49,465 Fenton Village Marketplace MI Flint 1999 1999 73,339 73,351 73.3% 80.9% 53,739 - ------------------------------------------------------------------------------------------------------------------------------------ St. Ann Square MO St. Louis 1986 1998 82,498 82,498 95.8% 95.8% 43,483 Olde Towne Plaza MO St. Louis 2000 2000 0 286,547 NA 57.8% 0 - ------------------------------------------------------------------------------------------------------------------------------------ Lucedale MS Columbia 1989 1993 49,059 49,059 91.0% 96.3% 35,059 Columbia Marketplace MS Lucedale 1988 1993 136,002 136,002 98.7% 98.2% 41,895 - ------------------------------------------------------------------------------------------------------------------------------------ Union Square Shopping Center NC Asheville 1989 1996 97,191 97,191 98.8% 97.5% 34,400 Southpoint Crossing NC Charlotte 1998 1998 103,128 103,128 92.6% 94.0% 59,160 City View Shopping Center NC Charlotte 1993 1996 77,550 77,552 95.4% 98.5% 44,000 Carmel Commons NC Charlotte 1979 1997 132,651 132,651 96.5% 95.8% 14,300 Sedgefield Village NC Greensboro 2000 2000 0 56,630 NA 67.0% 37,930 Kernersville Marketplace SC NC Greensboro 1997 1998 72,590 72,590 100.0% 95.9% 57,590 Woodcroft Shopping Center NC Raleigh 1984 1996 85,353 89,833 100.0% 100.0% 40,832 Oakley Plaza NC Raleigh 1988 1997 118,728 118,728 100.0% 97.7% 42,317 Maynard Crossing Shopping Ctr NC Raleigh 1997 1998 122,814 122,814 98.2% 98.2% 55,973 Lake Pine Plaza NC Raleigh 1997 1998 87,691 87,691 97.6% 97.6% 57,590 Glenwood Village NC Raleigh 1983 1997 42,864 42,864 100.0% 100.0% 27,764 Garner Towne Square NC Raleigh 1998 1998 221,576 221,576 98.1% 100.0% 57,590 Bent Tree Plaza NC Raleigh 1994 1998 79,503 79,503 100.0% 100.0% 54,153 - ------------------------------------------------------------------------------------------------------------------------------------ Echelon Village Plaza NJ Philadelphia 2000 2000 0 88,867 NA 85.1% 48,750 - ------------------------------------------------------------------------------------------------------------------------------------ Westchester Plaza OH Cincinnati 1988 1998 88,181 88,181 100.0% 96.8% 66,523 Shoppes at Mason OH Cincinnati 1997 1998 80,880 80,800 95.1% 100.0% 56,800 Hyde Park Plaza OH Cincinnati 1995 1997 374,544 374,544 98.1% 94.7% 138,592 Hamilton Meadows OH Cincinnati 1989 1998 126,252 0 97.8% 0.0% 0 Cherry Grove Plaza OH Cincinnati 1997 1998 185,498 195,497 100.0% 97.7% 66,336 Beckett Commons Shopping Ctr OH Cincinnati 1995 1998 112,936 112,936 100.0% 100.0% 56,634 Worthington Park Centre OH Columbus 1991 1998 93,094 93,095 100.0% 100.0% 52,337 Windmiller Square OH Columbus 1997 1998 120,509 120,509 97.1% 95.4% 76,555 Park Place Center OH Columbus 1988 1998 106,833 106,833 98.6% 98.6% 56,859 Northgate Plaza OH Columbus 1996 1998 85,101 85,100 100.0% 100.0% 62,000 Kroger New Albany Center OH Columbus 1999 1999 91,805 91,805 82.5% 90.9% 63,805 Kingsdale Shopping Center OH Columbus 1999 1997 270,697 270,470 74.0% 71.6% 55,768 East Pointe Crossing Shopping Ctr OH Columbus 1993 1998 86,524 86,525 95.1% 100.0% 59,120 - ------------------------------------------------------------------------------------------------------------------------------------ West Hills Plaza OR Portland 1998 1999 53,579 53,579 100.0% 100.0% 30,154 Walker Center OR Portland 1987 1999 89,624 89,624 100.0% 100.0% 0 Sunnyside 205 OR Portland 1988 1999 53,279 53,279 93.6% 85.0% 0 Sherwood Market Center OR Portland 1995 1999 124,256 124,256 97.3% 99.2% 49,793 Sherwood Crossroads OR Portland 1999 1999 32,600 87,750 0.0% 62.8% 55,150 Port of Portland OR Portland 2000 2000 0 67,240 NA 85.3% 57,370 Murrayhill Marketplace OR Portland 1988 1999 149,214 149,214 98.4% 96.9% 41,132 Cherry Park Market Center OR Portland 1997 1999 113,518 113,518 78.5% 82.7% 55,164 - ------------------------------------------------------------------------------------------------------------------------------------ Queensborough Shopping Ctr SC Charleston 1993 1998 82,333 82,333 97.7% 100.0% 65,796 Merchants Village SC Charleston 1997 1997 79,723 79,723 100.0% 96.3% 37,888 - ------------------------------------------------------------------------------------------------------------------------------------ Peartree Village TN Nashville 1997 1997 114,795 114,795 100.0% 100.0% 65,538 Northlake Village TN Nashville 1988 2000 0 151,629 NA 99.0% 64,537 Nashboro Village TN Nashville 1998 1998 86,811 86,811 96.5% 100.0% 61,224 Harpeth Village TN Nashville 1998 1997 70,091 70,091 100.0% 100.0% 55,377 - ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------ Grocery Property Name Anchor Drug Store GLA Other Anchor or Major - ------------------------------------------------------------------------------------------------------------------------ Hinsdale Lake Commons Dominick's -- Ace Hardware - -------------------------------------------------------------------------------------------------------------------------- Silverlake Shopping Center Kroger -- -- Franklin Square Shopping Ctr Kroger Rite Aid JC Penney, Office Depot - -------------------------------------------------------------------------------------------------------------------------- Waterford Towne Center Kroger -- -- Lakeshore Village Shopping Ctr Kroger Rite Aid -- Fenton Village Marketplace Farmer Jack -- -- - -------------------------------------------------------------------------------------------------------------------------- St. Ann Square National -- Bally Total Fitness Olde Towne Plaza -- -- - -------------------------------------------------------------------------------------------------------------------------- Lucedale Delchamps -- Wal-Mart Columbia Marketplace Winn-Dixie -- Wal-Mart - -------------------------------------------------------------------------------------------------------------------------- Union Square Shopping Center Harris Teeter CVS Drug Consolidated Theatres Southpoint Crossing Kroger -- -- City View Shopping Center Winn-Dixie CVS Drug Public Library Carmel Commons Fresh Market Eckerd Piece Goods Sedgefield Village Food Lion -- -- Kernersville Marketplace SC Harris Teeter -- -- Woodcroft Shopping Center Food Lion -- True Value Oakley Plaza Bi-Lo CVS Drug Baby Superstore, Western Auto Maynard Crossing Shopping Ctr Kroger -- -- Lake Pine Plaza Kroger -- Pet Depot Glenwood Village Harris Teeter -- -- Garner Towne Square Kroger -- Target, United Artists, Office Max Bent Tree Plaza Kroger -- -- - -------------------------------------------------------------------------------------------------------------------------- Echelon Village Plaza Genuardi's -- - -------------------------------------------------------------------------------------------------------------------------- Westchester Plaza Kroger -- -- Shoppes at Mason Kroger -- -- Hyde Park Plaza Kroger/Winn-Dixie Walgreen's Micheals, Barnes & Noble, Old Navy Hamilton Meadows -- -- Cherry Grove Plaza Kroger CVS Drug TJ Maxx, Hancock Fabrics Beckett Commons Shopping Ctr Kroger -- Stein Mart Worthington Park Centre Kroger CVS Drug -- Windmiller Square Kroger -- Sears Hardware Park Place Center Big Bear -- -- Northgate Plaza Kroger -- -- Kroger New Albany Center Kroger -- Kingsdale Shopping Center Big Bear -- Stein Mart, S&K Menswear East Pointe Crossing Shopping Ctr Kroger -- -- - -------------------------------------------------------------------------------------------------------------------------- West Hills Plaza QFC -- -- Walker Center -- -- Sportmart Sunnyside 205 -- -- -- Sherwood Market Center Albertson's -- -- Sherwood Crossroads Safeway -- -- Port of Portland Albertson's -- Murrayhill Marketplace Thriftway -- -- Cherry Park Market Center Safeway -- -- - -------------------------------------------------------------------------------------------------------------------------- Queensborough Shopping Ctr Publix -- -- Merchants Village Publix -- -- - -------------------------------------------------------------------------------------------------------------------------- Peartree Village Harris Teeter Eckerd Office Max Northlake Village Kroger CVS Drug Petco Nashboro Village Kroger -- -- Harpeth Village Albertson's -- -- - -------------------------------------------------------------------------------------------------------------------------- 19

- ------------------------------------------------------------------------------------------------------------------------------------ Regency Realty Summary of Real Estate (excluding Build to Suit Projects) Sep-00 - ------------------------------------------------------------------------------------------------------------------------------------ Company Owned GLA Percent Leased - ------------------------------------------------------------------------------------------------------------------------------------ Yr Const Grocery or last Year Anchor Property Name State MSA Rnvtn Acquired Dec-99 Sep-00 Dec-99 Sep-00 GLA - ------------------------------------------------------------------------------------------------------------------------------------ North Hills Town Center TX Austin 1995 1999 144,019 144,019 98.7% 95.6% 60,465 Market at Round Rock, The TX Austin 1987 1999 123,345 123,345 99.8% 97.9% 63,800 Hancock Center TX Austin 1998 1999 413,757 410,438 97.6% 99.2% 90,217 Valley Ranch Centre TX Dallas 1997 1999 117,281 117,187 99.9% 95.7% 55,750 The Village TX Dallas 1982 1999 95,148 95,148 90.7% 93.8% 52,480 Shiloh Springs TX Dallas 1998 1998 88,865 110,265 96.8% 93.6% 60,932 Prestonwood Park TX Dallas 1999 1999 100,421 100,972 48.6% 59.5% 62,322 Prestonbrook Crossing TX Dallas 1998 1998 91,274 91,274 96.5% 98.1% 63,373 Preston Park Village TX Dallas 1985 1999 268,869 268,869 99.4% 95.9% 52,688 Ocotillo Center TX Dallas 2000 2000 0 40,765 NA 19.5% 55,255 Northview Plaza TX Dallas 1991 1999 117,034 116,554 91.6% 87.7% 58,890 Mockingbird Commons TX Dallas 1987 1999 121,415 121,531 93.2% 94.1% 48,525 Mills Pointe TX Dallas 1986 1999 126,238 126,238 97.4% 99.0% 52,688 Market at Preston Forest, The TX Dallas 1990 1999 90,170 90,171 100.0% 100.0% 50,365 MacArthur Park (Phase II) TX Dallas 1999 1999 197,643 198,600 59.5% 89.6% 63,373 Lebanon/Legacy Center TX Dallas 2000 2000 0 60,222 NA 5.5% 64,843 Hillcrest Village TX Dallas 1991 1999 14,488 14,530 100.0% 100.0% 0 Hebron Parkway Plaza TX Dallas 1999 1999 47,312 47,013 76.2% 95.3% 59,460 Casa Linda Plaza TX Dallas 1997 1999 324,620 324,639 87.4% 87.1% 59,561 Bethany Park Place Shopping Ctr TX Dallas 1998 1998 74,066 74,066 100.0% 100.0% 58,374 Arapaho Village TX Dallas 1997 1999 108,816 107,737 82.4% 93.8% 43,256 Trophy Club TX Fort Worth 1999 1999 107,700 125,063 72.1% 72.0% 63,280 Tarrant Parkway Plaza TX Fort Worth 1999 1999 33,500 33,079 12.5% 84.4% 69,861 Southlake - Village Center TX Fort Worth 1998 1998 118,172 118,172 88.6% 86.0% 60,932 Ridglea Plaza TX Fort Worth 1986 1999 197,961 197,961 79.6% 86.8% 51,500 Keller Town Center TX Fort Worth 1999 1999 113,000 114,822 62.4% 85.4% 63,631 Harwood Hills Village TX Fort Worth 1996 1999 122,860 122,540 93.9% 89.1% 52,480 Creekside Plaza TX Fort Worth 1998 1998 96,816 96,816 96.0% 98.6% 60,932 Cooper Street Plaza TX Fort Worth 1992 1999 133,239 133,215 100.0% 100.0% 0 Fort Bend Market TX Houston 2000 2000 0 103,373 NA 61.3% 63,373 Champion Forest Shopping Ctr TX Houston 1983 1999 115,295 115,379 96.9% 99.2% 56,457 Southpark TX Tyler 1997 1999 146,225 145,888 93.9% 90.8% 54,980 - ------------------------------------------------------------------------------------------------------------------------------------ Brookville Plaza VA Lynchburg 1991 1998 63,664 63,664 95.8% 92.5% 52,864 Statler Square Shopping Ctr VA Staunton 1996 1998 133,660 133,660 96.3% 96.3% 65,003 Cheshire Station VA Washington DC 2000 2000 0 100,641 NA 61.0% 55,256 - ------------------------------------------------------------------------------------------------------------------------------------ Thomas Lake Center WA Seattle 1998 1999 103,870 103,872 100.0% 100.0% 50,065 Southcenter Plaza WA Seattle 1990 1999 58,281 58,281 100.0% 100.0% 0 South Point Plaza WA Seattle 1997 1999 190,454 190,454 98.9% 100.0% 55,443 Seattle Fur Exchange WA Seattle 2000 2000 0 84,380 NA 74.3% 0 Sammamish Highlands WA Seattle 1992 1999 101,289 101,289 100.0% 100.0% 55,000 Pine Lake Village WA Seattle 1989 1999 100,953 100,953 100.0% 100.0% 36,182 Lake Meridian Marketplace WA Seattle 1989 1999 165,210 165,210 92.7% 95.0% 56,482 Inglewood Plaza WA Seattle 1985 1999 17,253 17,253 100.0% 94.2% 0 Cascade Plaza WA Seattle 1999 1999 215,477 217,817 67.1% 90.6% 49,440 James Center WA Tacoma 1999 1999 114,175 140,500 86.9% 88.7% 68,273 - ------------------------------------------------------------------------------------------------------------------------------------ Dell Range Marketplace WY Cheyenne 1999 1999 75,000 87,771 81.3% 76.0% 61,000 - ------------------------------------------------------------------------------------------------------------------------------------ Regency Realty Total 24,769,498 27,121,631 92.4% 90.8% 10,600,809 ====================================================================================================================================

- ------------------------------------------------------------------------------------------------------------------------ Grocery Property Name Anchor Drug Store GLA Other Anchor or Major - ------------------------------------------------------------------------------------------------------------------------ North Hills Town Center H.E.B. -- -- Market at Round Rock, The Albertson's -- -- Hancock Center H.E.B. -- Sears, Old Navy, Petco Valley Ranch Centre Tom Thumb -- -- The Village Tom Thumb -- -- Shiloh Springs Kroger -- -- Prestonwood Park Albertson's -- -- Prestonbrook Crossing Kroger -- -- Preston Park Village Tom Thumb -- Sony Theatres, Gap Ocotillo Center Safeway -- Northview Plaza Kroger -- -- Mockingbird Commons Tom Thumb -- -- Mills Pointe Tom Thumb -- -- Market at Preston Forest, The Tom Thumb -- Petco MacArthur Park (Phase II) Kroger -- Barnes & Noble, Linens 'N Things Lebanon/Legacy Center Albertson's -- Hillcrest Village -- -- -- Hebron Parkway Plaza Albertson's -- -- Casa Linda Plaza Albertson's Eckerd Fitness Factory, Petco Bethany Park Place Shopping Ctr Kroger -- -- Arapaho Village Tom Thumb -- -- Trophy Club Tom Thumb -- -- Tarrant Parkway Plaza Albertson's -- Southlake - Village Center Kroger -- -- Ridglea Plaza Tom Thumb Eckerd Stein Mart Keller Town Center Tom Thumb -- -- Harwood Hills Village Tom Thumb -- -- Creekside Plaza Kroger -- -- Cooper Street Plaza -- -- Circuit City, Office Max, Sears Homelife Fort Bend Market Kroger -- Champion Forest Shopping Ctr Randall's Food Eckerd -- Southpark Albertson's -- Bealls - -------------------------------------------------------------------------------------------------------------------------- Brookville Plaza Kroger -- -- Statler Square Shopping Ctr Kroger CVS Drug Staples Cheshire Station Safeway -- - -------------------------------------------------------------------------------------------------------------------------- Thomas Lake Center Albertson's Rite Aid -- Southcenter Plaza -- -- Target South Point Plaza Cost Cutters Rite Aid Office Depot, Pep Boys Seattle Fur Exchange -- -- Sammamish Highlands Safeway Bartell Drugs Sammamish Ace Hardward Pine Lake Village Quality Foods Rite Aid -- Lake Meridian Marketplace Fred Myer Bartell Drugs 24 Hour Fitness Inglewood Plaza -- -- -- Cascade Plaza Safeway Long's Drugs Ross Dress for Less, Bally Total Fitness James Center Fred Myer Rite Aid -- - -------------------------------------------------------------------------------------------------------------------------- Dell Range Marketplace King Soopers -- -- - -------------------------------------------------------------------------------------------------------------------------- Regency Realty Total ========================================================================================================================== 20

- -------------------------------------------------------------------------------- Regency Realty Corporation Tenant Lease Expirations - -------------------------------------------------------------------------------- The following table sets forth, for all leases in place as of September 30, 2000 a schedule of the lease expirations of operating properties for the next ten years, assuming that no tenants exercise renewal options: Future Percent of Percent of Minimum Rent Total Lease Expiration Total Under Expiring Minimum Year Expiring GLA Company SF Leases Rent (2) ================================================================================ (1) 508,560 2.2% 6,094,292 2.3% 2000 365,122 1.6% 5,526,999 2.1% 2001 1,709,485 7.4% 24,788,805 9.5% 2002 1,943,905 8.5% 26,261,283 10.1% 2003 2,033,982 8.9% 27,530,528 10.6% 2004 2,114,636 9.2% 29,130,727 11.2% 2005 2,007,677 8.7% 24,482,881 9.4% 2006 1,235,011 5.4% 12,939,095 5.0% 2007 1,022,255 4.5% 10,332,697 4.0% 2008 1,121,490 4.9% 9,680,168 3.7% 2009 687,395 3.0% 7,434,871 2.9% =========================================================== 10 Year Total 14,749,518 64.2% 184,202,346 70.6% Thereafter 8,220,131 35.8% 76,524,133 29.4% =========================================================== 22,969,649 100.0% 260,726,479 100.0% - -------------------------------------------------------------------------------- (1) Leases currently under month to month lease or in process of renewal (2) Total rent includes minimum rent for all properties, but excludes additional rent such as percentage rent, common area maintenance, real estate taxes, and insurance reimbursements. 26

- -------------------------------------------------------------------------------- Regency Center, L.P. Tenant Lease Expirations - -------------------------------------------------------------------------------- The following table sets forth, for all leases in place as of September 30, 2000 a schedule of the lease expirations of operating properties for the next ten years, assuming that no tenants exercise renewal options: Future Percent of Percent of Minimum Rent Total Lease Expiration Total Under Expiring Minimum Year Expiring GLA Company SF Leases Rent (2) ================================================================================ (1) 453,926 2.1% 5,501,502 2.2% 2000 354,247 1.7% 5,387,332 2.2% 2001 1,596,621 7.5% 23,212,629 9.4% 2002 1,805,052 8.5% 24,675,932 10.0% 2003 1,785,981 8.4% 25,453,752 10.3% 2004 2,036,140 9.6% 28,361,019 11.5% 2005 1,886,536 8.9% 23,554,057 9.6% 2006 1,115,726 5.3% 11,963,557 4.9% 2007 952,404 4.5% 10,069,653 4.1% 2008 920,288 4.3% 8,781,510 3.6% 2009 561,236 2.6% 6,456,252 2.6% ========================================================== 10 Year Total 13,468,157 63.6% 173,417,195 70.3% Thereafter 7,712,172 36.4% 73,108,447 29.7% ========================================================== 21,180,329 100.0% 246,525,642 100.0% - -------------------------------------------------------------------------------- (1) Leases currently under month to month lease or in process of renewal (2) Total rent includes minimum rent for all properties, but excludes additional rent such as percentage rent, common area maintenance, real estate taxes, and insurance reimbursements. 27

Regency Realty Corporation Press Release - -------------------------------------------------------------------------------- FOR IMMEDIATE RELEASE CONTACT: LISA PALMER (904) 598-7636 - -------------------------------------------------------------------------------- REGENCY REALTY ANNOUNCES THIRD QUARTER RESULTS Funds from Operations Per Share Increase 8.2% JACKSONVILLE, FLA. (November 3, 2000) -- Regency Realty Corporation (NYSE: REG) announced today financial and operating results for the quarter ended September 30, 2000. Funds from Operations (FFO) increased to $39.7 million, or $0.66 per diluted share, an increase of 8.2% over FFO of $0.61 per diluted share in the third quarter of 1999. For the nine months ended September 30, 2000, FFO increased to $114.7 million, or $1.91 per diluted share, from $99.7 million, or $1.78 per diluted share for the same period last year - a per diluted share increase of 7.3%. Net income for common stockholders for the third quarter, was $23.9 million, or $0.42 per diluted share, compared to $24.0 million, or $0.40 per diluted share, for the same period in 1999. For the nine month period ended September 30, 2000, net income for common stockholders was $60.9 million, or $1.07 per diluted share, compared to $61.8 million, or $1.16 per diluted share, in 1999. Year over year, the per-share comparison is affected by a $6.9 million non-recurring provision for the estimated loss on operating properties held for sale. Without this provision, net income for common stockholders for the nine months ended September 30, 2000 would have been $67.8 million, or $1.19 per diluted share, compared to $61.8 million, or $1.16 per diluted share, for the same period last year. Martin E. Stein, Jr., Chairman and Chief Executive Officer, said, "Regency continues to generate per share growth from same property net operating income, the investment of free cash flow, and the profitability of Regency's development program." Portfolio Results For the third quarter, same property net operating income (NOI) increased 7.3%. Year to date, same property NOI has increased 4.4%. The same property portfolio is represented by 21.7 million square feet, or 98.7% of Regency's operating portfolio. Mary Lou Fiala, President and Chief Operating Officer, said, "Strong rent growth, gains in overall occupancy, and increased specialty income led to another quarter of same store NOI growth in excess of 4%. However, we expect expense and recovery timing variances to reverse in the fourth quarter resulting in same store NOI growth to approximate 3% for the year 2000." The portfolio, excluding in-process development properties was 94.7% leased at September 30, 2000. In the first nine months of the year, Regency completed 901 new and renewal leases totaling 3.2 million square feet with average rental rates increasing 7.3% on a same space basis. Investment and Development Activity During the third quarter, the company increased its development pipeline with 11 new projects, including ten shopping center projects and one single-tenant development. Combined with those that were already in process at the start of the quarter, this brings the company to 38 shopping center developments and redevelopments, 6 renovations of operating properties, and 13 single-tenant projects in process. Also during the quarter, the Company sold two developments. Combined with the 11 projects that sold in the first half of the year, the Company has completed 13 for-sale transactions at a gross sales price in excess of $87 million and an average capitalization rate of 9.1%, generating $10 million in profits net of tax. Balance Sheet and Capital Markets Activity During the quarter, the Company issued $150 million of ten-year senior unsecured notes at an interest rate of 8.45%. The Company also completed the sale of $24 million of perpetual preferred units at a rate of 8.75%. The proceeds were used to reduce the amounts outstanding under Regency's revolving line of credit. At quarter end, there was $320 million available under its $625 million unsecured credit facility. During the quarter, Regency executed a letter of intent with a domestic institutional investor to form a co-investment partnership to invest in a $300 million portfolio of neighborhood and community shopping centers. Regency has agreed to sell four to five stabilized developments to the partnership, while the institutional investor will contribute three centers. In addition, the partnership plans to acquire approximately $150 million of properties throughout the country. The Company expects to close the partnership by year-end and will provide further details at that time. Dividend On November 1, 2000, the Board of Directors declared the regular quarterly cash dividend of $0.48 per share, payable on November 28, 2000, to shareholders of record on November 13, 2000. Financial Outlook The following statements are based on current expectations. These statements are forward-looking and actual results may vary. The Company expressed comfort with the First Call range of $2.63 to $2.66 for the year 2000 and with a range of $2.82 to $2.85 for 2001. The Company may publish additional forward-looking statements during the fourth quarter that may help investors further estimate earnings for 2001. Regency Realty Corporation Regency Realty is the leading national owner, operator, and developer focused on grocery-anchored, neighborhood retail centers. Regency's total assets before depreciation exceed $3 billion. As of September 30, 2000, the Company owned 235 retail properties totaling more than 27.1 million square feet located in high growth markets throughout the United States. Operating as a fully integrated real estate Company, Regency Realty Corporation is a qualified real estate investment trust that is self-administered and self managed. Additional Information A copy of the Company's Supplemental Information Report is available to all interested parties upon written request to Lesley Stocker, Investor Relations, Regency Realty Corporation, 121 West Forsyth Street, Suite 200, Jacksonville, Florida, 32202 or on the Company's web site at www.RegencyRealty.com. # # # In addition to historical information, this press release contains forward-looking statements under the federal securities law. These statements are based on current expectations, estimates and projections about the industry and markets in which Regency operates, management's beliefs and assumptions. Forward-looking statements are not guarantees of future performance and involve certain credit risks and uncertainties, which are difficult to predict. Actual operating results may be affected by changes in national and local economic conditions, competitive market conditions, weather, obtaining governmental approvals and meeting development schedules, and therefore, may differ materially from what is expressed or forecasted in this press release.

SIGNATURES Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. REGENCY REALTY CORPORATION (registrant) November 3, 2000 By:/s/J. Christian Leavitt -------------------------- J. Christian Leavitt Senior Vice President, Finance