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                     U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                     FORM 4

                  STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

    Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
       Section 17(a) of the Public Utility Holding Company Act of 1935 or
               Section 30(f) of the Investment Company Act of 1940

[_]  Check box if no longer  subject of Section 16. Form 4 or Form 5 obligations
     may continue. See Instruction 1(b).

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1.   Name and Address of Reporting Person*

   Leavitt                            J.                        Christian
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   (Last)                           (First)                     (Middle)

                       121 West Forsyth Street, Suite 200
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                                    (Street)

  Jacksonville                        FL                         32202
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   (City)                           (State)                      (Zip)

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2.   Issuer Name and Ticker or Trading Symbol

                        Regency Centers Corporation (REG)
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3.   IRS Identification Number of Reporting Person, if an Entity (Voluntary)

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4.   Statement for Month/Day/Year

                                November 7, 2002
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5.   If Amendment, Date of Original (Month/Day/Year)


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6.   Relationship of Reporting Person to Issuer
     (Check all applicable)

     [_]  Director                             [_]  10% Owner
     [X]  Officer (give title below)           [_]  Other (specify below)

                Senior Vice President and Chief Financial Officer
                -------------------------------------------------
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7.   Individual or Joint/Group Filing (Check applicable line)

     [X]  Form filed by one Reporting Person
     [_]  Form filed by more than one Reporting Person
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           Table I -- Non-Derivative Securities Acquired, Disposed of,
                             or Beneficially Owned
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5. Amount of Securities 6. 4. Beneficially Owner- Securities Acquired (A) or Owned ship 2A. 3. Disposed of (D) Following Form: 7. 2. Deemed Transaction (Instr. 3, 4 and 5) Reported Direct Nature of Trans- Execution Code ------------------------------- Trans- (D) or Indirect 1. action Date, (Instr. 8) (A) action(s) Indirect Beneficial Title of Security Date if any ------------ or (Instr. (I) Ownership (Instr. 3) (mm/dd/yy) (mm/dd/yy) Code V Amount (D) Price 3 & 4) (Instr.4) (Instr. 4) - ------------------------------------------------------------------------------------------------------------------------------------ Common Stock 11/07/2002 M 7,163 A $26.875 D - ----------------------------------------------------------------------------------------------------------------------------------- Common Stock 11/07/2002 F 6,516 D $31.78 39,787 D - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- ====================================================================================================================================
* If the Form is filed by more than one Reporting Person, see Instruction 4(b)(v). Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. (Print or Type Responses) (Over) (Form 4-07/98) FORM 4 (continued) Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) ================================================================================
10. 9. Owner- Number ship of Deriv- Form 2. ative Conver- 5. 7. Secur- Deriv- 11. sion Number of Title and Amount ities ative Nature or 3A. Derivative 6. of Underlying 8. Bene- Secur- of Exer- Deemed 4. Securities Date Securities Price ficially ity: In- cise 3. Execu- Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of Owned Direct direct Price Trans- tion action or Disposed Expiration Date ---------------- Deriv- Following (D) or Bene- 1. of action Date, Code of(D) (Month/Day/Year) Amount ative Reported In- ficial Title of Deriv- Date if any (Instr. (Instr. 3, ---------------- or Secur- Trans- direct Owner- Derivative ative (Month/ (Month/ 8) 4 and 5) Date Expira- Number ity action(s) (I) ship Security Secur- Day/ Day/ ------ ------------ Exer- tion of (Instr (Instr. (Instr. (Instr. (Instr. 3) ity Year) Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4) - ------------------------------------------------------------------------------------------------------------------------------------ Employee Stock Option Common (right to buy) $26.875 11/07/02 M 7,163 05/12/97 11/05/03 Stock 7,163 0 D - ----------------------------------------------------------------------------------------------------------------------------------- Employee Stock Option Common (right to buy) $31.78 11/07/02 A 6,516 11/07/02 11/05/03 Stock 6,516 6,516 D - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- ====================================================================================================================================
Explanation of Responses: /s/ Foley & Lardner November 11, 2002 - --------------------------------------------- ----------------------- Foley & Lardner, as attorney-in-fact Date for J. Christian Leavitt ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). Note: File three copies of this Form, one of which must be manually signed. If space provided is insufficient, see Instruction 6 for procedure. Page 2
                                POWER OF ATTORNEY

                Know all by these presents, that, for good and valuable
consideration, the sufficiency and receipt of which are hereby acknowledged, the
undersigned hereby constitutes and appoints Regency Centers Corporation, a
Florida corporation (the "Company"), and Foley & Lardner and any of their
substitutes, signing singly, the undersigned's true and lawful attorney-in-fact
to:

                (1)     execute for and on behalf of the undersigned (in
        accordance with Section 16(a) of the Securities Exchange Act of 1934, as
        amended, and the rules thereunder (the "Exchange Act")), in the under-
        signed's capacity as an officer and/or director of the Company, any and
        all Forms 3, 4 and/or 5, and any amendments thereto, that are necessary
        or advisable for the undersigned to file under Section 16(a)
        (collectively, "Documents");

                (2)     do and perform any and all acts for and on behalf of the
        undersigned that may be necessary or desirable to complete and execute
        any such Documents and timely file such Documents with the United States
        Securities and Exchange Commission and any stock exchange or similar
        authority; and

                (3)     take any other action of any type whatsoever in
        connection with the foregoing which, in the opinion of such attorney-in-
        fact, may be of benefit to, in the best interest of, or legally required
        by, the undersigned, it being understood that the documents executed by
        such attorney-in-fact on behalf of the undersigned pursuant to this
        Power of Attorney shall be in such form and shall contain such terms and
        conditions as such attorney-in-fact may approve in such attorney-in-
        fact's discretion.

                The undersigned hereby grants to such attorney-in-fact full
power and authority to do and perform any and every act and thing whatsoever
requisite, necessary or proper to be done in the exercise of any of the rights
and powers herein granted, as fully to all intents and purposes as the
undersigned might or could do if personally present, with full power of
substitution or revocation, hereby ratifying and confirming all that such
attorney-in-fact (or such attorney-in-fact's substitute or substitutes) shall
lawfully do or cause to be done by virtue of this power of attorney and the
rights and powers herein granted. The undersigned acknowledges that such
attorney-in-fact, in serving in such capacity at the request of the undersigned,
is not assuming, nor is such attorney-in-fact's substitute or substitutes
assuming, any of the undersigned's responsibilities to comply with the Exchange
Act. The undersigned agrees to defend and hold harmless such attorney-in-fact
(and such attorney-in-fact's substitute or substitutes) from and against any and
all loss, damage or liability that such attorney-in-fact may sustain as a result
of any action taken in good faith hereunder.

                This Power of Attorney shall remain in full force and effect
until the undersigned is no longer required to file Documents with respect to
the undersigned's holdings of and transactions in securities issued by the
Company, unless earlier revoked by the undersigned in a signed writing delivered
to each of the foregoing attorneys-in-fact. This Power of Attorney shall be
construed under the laws of the state of Michigan, without regard to conflict of
law principles.

                IN WITNESS WHEREOF, the undersigned has caused this Power of
Attorney to be executed as of this 2nd day of October, 2002.


                                       /s/ J. Christian Leavitt
                                       -----------------------------------------
                                       Signature

                                       Name:  J. Christian Leavitt
                                            ------------------------------------
                                                    (please print)