0001564590-21-025450 | 10-Q | XBRL Viewer

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2021	May 05, 2021
Document Information [Line Items]
Entity Registrant Name	REGENCY CENTERS CORPORATION
Entity Central Index Key	0000910606
Document Type	10-Q
Document Period End Date	Mar. 31, 2021
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Trading Symbol	REG
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		169,862,160
Entity File Number	1-12298
Entity Tax Identification Number	59-3191743
Entity Address, Address Line One	One Independent Drive
Entity Address, Address Line Two	Suite 114
Entity Address, City or Town	Jacksonville
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	32202
City Area Code	904
Local Phone Number	598-7000
Title of 12(b) Security	Common Stock, $.01 par value
Security Exchange Name	NASDAQ
Document Quarterly Report	true
Document Transition Report	false
Entity Incorporation, State or Country Code	FL
Partnership Interest [Member]
Document Information [Line Items]
Entity Registrant Name	REGENCY CENTERS, L.P.
Entity Central Index Key	0001066247
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Filer Category	Accelerated Filer
Entity File Number	0-24763
Entity Tax Identification Number	59-3429602
Entity Address, Address Line One	One Independent Drive
Entity Address, Address Line Two	Suite 114
Entity Address, City or Town	Jacksonville
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	32202
City Area Code	904
Local Phone Number	598-7000
Document Quarterly Report	true
Document Transition Report	false
Entity Incorporation, State or Country Code	DE

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Real Estate Investment Property, at Cost [Abstract]
Real estate assets, at cost	$ 11,082,484	$ 11,101,858
Less: accumulated depreciation	2,047,078	1,994,108
Real estate assets, net	9,035,406	9,107,750
Investments in real estate partnerships	484,425	467,155
Properties held for sale	32,641	33,934
Cash, cash equivalents, and restricted cash, including $2,070 and $2,377 of restricted cash at March 31, 2021 and December 31, 2020, respectively	139,320	378,450
Tenant and other receivables	127,455	143,633
Deferred leasing costs, less accumulated amortization of $113,544 and $113,959 at March 31, 2021 and December 31, 2020, respectively	66,138	67,910
Acquired lease intangible assets, less accumulated amortization of $292,402 and $284,880 at March 31, 2021 and December 31, 2020, respectively	178,784	188,799
Right of use assets, net	285,998	287,827
Other assets	275,821	261,446
Total assets	10,625,988	10,936,904
Less: accumulated depreciation	2,047,078	1,994,108
Real estate assets, net	9,035,406	9,107,750
Liabilities:
Notes payable	3,652,242	3,658,405
Unsecured credit facilities		264,679
Accounts payable and other liabilities	285,320	302,361
Acquired lease intangible liabilities, less accumulated amortization of $152,783 and $145,966 at March 31, 2021 and December 31, 2020, respectively	369,438	377,712
Lease liabilities	219,107	220,390
Tenants’ security, escrow deposits and prepaid rent	56,837	55,210
Total liabilities	4,582,944	4,878,757
Commitments and contingencies
Equity/Capital:
Common stock, $0.01 par value per share, 220,000,000 shares authorized; 169,828,955 and 169,680,138 shares issued at March 31, 2021 and December 31, 2020, respectively	1,698	1,697
Treasury stock at cost, 466,469 and 440,574 shares held at September 30, 2020 and December 31, 2019, respectively	(24,775)	(24,436)
Additional paid-in-capital	7,791,416	7,792,082
Accumulated other comprehensive loss	(12,512)	(18,625)
Distributions in excess of net income	(1,786,196)	(1,765,806)
Total stockholders’ equity	5,969,631	5,984,912
Exchangeable operating partnership units, aggregate redemption value of $43,386 and $34,878 at March 31, 2021 and December 31, 2020, respectively	35,667	35,727
Limited partners’ interests in consolidated partnerships	37,746	37,508
Total noncontrolling interests	73,413	73,235
Total equity	6,043,044	6,058,147
Total equity	6,043,044	6,058,147
Total liabilities and equity	10,625,988	10,936,904
Partnership Interest [Member]
Real Estate Investment Property, at Cost [Abstract]
Real estate assets, at cost	11,082,484	11,101,858
Less: accumulated depreciation	2,047,078	1,994,108
Real estate assets, net	9,035,406	9,107,750
Investments in real estate partnerships	484,425	467,155
Properties held for sale	32,641	33,934
Cash, cash equivalents, and restricted cash, including $2,070 and $2,377 of restricted cash at March 31, 2021 and December 31, 2020, respectively	139,320	378,450
Tenant and other receivables	127,455	143,633
Deferred leasing costs, less accumulated amortization of $113,544 and $113,959 at March 31, 2021 and December 31, 2020, respectively	66,138	67,910
Acquired lease intangible assets, less accumulated amortization of $292,402 and $284,880 at March 31, 2021 and December 31, 2020, respectively	178,784	188,799
Right of use assets, net	285,998	287,827
Other assets	275,821	261,446
Total assets	10,625,988	10,936,904
Less: accumulated depreciation	2,047,078	1,994,108
Real estate assets, net	9,035,406	9,107,750
Liabilities:
Notes payable	3,652,242	3,658,405
Unsecured credit facilities		264,679
Accounts payable and other liabilities	285,320	302,361
Acquired lease intangible liabilities, less accumulated amortization of $152,783 and $145,966 at March 31, 2021 and December 31, 2020, respectively	369,438	377,712
Lease liabilities	219,107	220,390
Tenants’ security, escrow deposits and prepaid rent	56,837	55,210
Total liabilities	4,582,944	4,878,757
Commitments and contingencies
Equity/Capital:
General partner; 169,677,302 and 167,571,218 units outstanding at September 30, 2020 and December 31, 2019, respectively	5,982,143	6,003,537
Limited partners; 765,046 and 746,433 units outstanding at September?30, 2020 and December?31, 2019, respectively	35,667	35,727
Accumulated other comprehensive loss	(12,512)	(18,625)
Total partners’ capital	6,005,298	6,020,639
Limited partners’ interests in consolidated partnerships	37,746	37,508
Total capital	6,043,044	6,058,147
Total capital	6,043,044	6,058,147
Total liabilities and equity	$ 10,625,988	$ 10,936,904

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Restricted Cash and Cash Equivalent	$ 2,070	$ 2,377
Deferred costs accumulated amortization	113,544	113,959
Accumulated amortization of acquired lease intangible assets	292,402	284,880
Accumulated accretion of acquired lease intangible liabilities	$ 152,783	$ 145,966
Common stock, par value per share	$ 0.01	$ 0.01
Common stock, shares authorized	220,000,000	220,000,000
Common stock, shares issued	169,828,955	169,680,138
Treasury stock, shares held at cost	467,999	459,828
Exchangeable operating partnership units aggregate redemption value	$ 43,386	$ 34,878
Partnership Interest [Member]
Restricted Cash and Cash Equivalent	2,070	2,377
Deferred costs accumulated amortization	113,544	113,959
Accumulated amortization of acquired lease intangible assets	292,402	284,880
Accumulated accretion of acquired lease intangible liabilities	$ 152,783	$ 145,966
General partner units, outstanding	169,828,955	169,680,138
Limited partner units, outstanding	765,046	765,046

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Revenues:
Lease income	$ 266,357	$ 274,537
Other property income	1,953	2,305
Management, transaction, and other fees	6,393	6,816
Total revenues	274,703	283,658
Operating expenses:
Depreciation and amortization	77,259	89,295
Operating and maintenance	45,582	42,369
General and administrative	21,287	13,705
Real estate taxes	36,166	35,887
Other operating expenses	698	1,337
Total operating expenses	180,992	182,593
Other expense (income):
Interest expense, net	36,936	37,436
Goodwill impairment		132,128
Provision for impairment of real estate, net of tax		784
Gain on sale of real estate, net of tax	(11,698)	(38,005)
Net investment (income) loss	(1,486)	4,923
Total other expense (income)	23,752	137,266
Income (loss) from operations before equity in income of investments in real estate partnerships	69,959	(36,201)
Equity in income of investments in real estate partnerships	11,666	11,418
Net income (loss)	81,625	(24,783)
Noncontrolling interests:
Exchangeable operating partnership units	(364)	115
Limited partners’ interests in consolidated partnerships	(605)	(664)
Income attributable to noncontrolling interests	(969)	(549)
Net income attributable to common stockholders	$ 80,656	$ (25,332)
Income (loss) per common share - basic	$ 0.48	$ (0.15)
Income (loss) per common share - diluted	$ 0.47	$ (0.15)
Partnership Interest [Member]
Revenues:
Lease income	$ 266,357	$ 274,537
Other property income	1,953	2,305
Management, transaction, and other fees	6,393	6,816
Total revenues	274,703	283,658
Operating expenses:
Depreciation and amortization	77,259	89,295
Operating and maintenance	45,582	42,369
General and administrative	21,287	13,705
Real estate taxes	36,166	35,887
Other operating expenses	698	1,337
Total operating expenses	180,992	182,593
Other expense (income):
Interest expense, net	36,936	37,436
Goodwill impairment		132,128
Provision for impairment of real estate, net of tax		784
Gain on sale of real estate, net of tax	(11,698)	(38,005)
Net investment (income) loss	(1,486)	4,923
Total other expense (income)	23,752	137,266
Income (loss) from operations before equity in income of investments in real estate partnerships	69,959	(36,201)
Equity in income of investments in real estate partnerships	11,666	11,418
Net income (loss)	81,625	(24,783)
Noncontrolling interests:
Limited partners’ interests in consolidated partnerships	(605)	(664)
Income attributable to noncontrolling interests	(605)	(664)
Net income (loss) attributable to common unit holders	$ 81,020	$ (25,447)
Income (loss) per common share - basic	$ 0.48	$ (0.15)
Income (loss) per common share - diluted	$ 0.47	$ (0.15)

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Net income (loss)	$ 81,625	$ (24,783)
Other comprehensive income (loss):
Effective portion of change in fair value of derivative instruments	5,810	(16,079)
Reclassification adjustment of derivative instruments included in net income (loss)	1,035	1,425
Unrealized (loss) gain on available-for-sale debt securities	(285)	15
Other comprehensive income (loss)	6,560	(14,639)
Comprehensive income (loss)	88,185	(39,422)
Less: comprehensive income attributable to noncontrolling interests:
Net income attributable to noncontrolling interests	969	549
Other comprehensive income (loss) attributable to noncontrolling interests	447	(1,105)
Comprehensive income (loss) attributable to noncontrolling interests	1,416	(556)
Comprehensive income (loss) attributable to the Company	86,769	(38,866)
Partnership Interest [Member]
Net income (loss)	81,625	(24,783)
Other comprehensive income (loss):
Effective portion of change in fair value of derivative instruments	5,810	(16,079)
Reclassification adjustment of derivative instruments included in net income (loss)	1,035	1,425
Unrealized (loss) gain on available-for-sale debt securities	(285)	15
Other comprehensive income (loss)	6,560	(14,639)
Comprehensive income (loss)	88,185	(39,422)
Less: comprehensive income attributable to noncontrolling interests:
Net income attributable to noncontrolling interests	605	664
Other comprehensive income (loss) attributable to noncontrolling interests	418	(1,044)
Comprehensive income (loss) attributable to noncontrolling interests	1,023	(380)
Comprehensive income (loss) attributable to the Company	$ 87,162	$ (39,042)

Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Distributions in Excess of Net Income [Member]	Total Stockholders' Equity [Member]	Noncontrolling Interest Exchangeable Operating Partnership Units [Member]	Noncontrolling Interests in Limited Partners' Interest in Consolidated Partnerships [Member]	Noncontrolling Interest [Member]
Beginning balance at Dec. 31, 2019	$ 6,289,961	$ 1,676	$ (23,199)	$ 7,654,930	$ (11,997)	$ (1,408,062)	$ 6,213,348	$ 36,100	$ 40,513	$ 76,613
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(24,783)					(25,332)	(25,332)	(115)	664	549
Other comprehensive income (loss):
Other comprehensive income (loss) before reclassification	(16,064)				(14,938)		(14,938)	(67)	(1,059)	(1,126)
Amounts reclassified from accumulated other comprehensive loss	1,425				1,404		1,404	6	15	21
Deferred compensation plan, net			(698)	698
Restricted stock issued, net of amortization	3,764	1		3,763			3,764
Common stock repurchased for taxes withheld for stock based compensation, net	(5,188)			(5,188)			(5,188)
Common stock issued under dividend reinvestment plan	379			379			379
Common stock issued, net of issuance costs	125,773	19		125,754			125,773
Contributions from partners	100								100	100
Issuance of exchangeable operating partnership units	1,275							1,275		1,275
Distributions to partners	(1,164)								(1,164)	(1,164)
Cash dividends declared - common stock/unit	(100,243)					(99,788)	(99,788)	(455)		(455)
Ending Balance at Mar. 31, 2020	6,275,235	1,696	(23,897)	7,780,336	(25,531)	(1,533,182)	6,199,422	36,744	39,069	75,813
Beginning balance at Dec. 31, 2020	6,058,147	1,697	(24,436)	7,792,082	(18,625)	(1,765,806)	5,984,912	35,727	37,508	73,235
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	81,625					80,656	80,656	364	605	969
Other comprehensive income (loss):
Other comprehensive income (loss) before reclassification	5,525				5,162		5,162	25	338	363
Amounts reclassified from accumulated other comprehensive loss	1,035				951		951	4	80	84
Deferred compensation plan, net			(339)	339
Restricted stock issued, net of amortization	2,479	1		2,478			2,479
Common stock repurchased for taxes withheld for stock based compensation, net	(3,859)			(3,859)			(3,859)
Common stock issued under dividend reinvestment plan	376			376			376
Distributions to partners	(785)								(785)	(785)
Cash dividends declared - common stock/unit	(101,499)					(101,046)	(101,046)	(453)		(453)
Ending Balance at Mar. 31, 2021	$ 6,043,044	$ 1,698	$ (24,775)	$ 7,791,416	$ (12,512)	$ (1,786,196)	$ 5,969,631	$ 35,667	$ 37,746	$ 73,413

Consolidated Statements of Equity (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement Of Stockholders Equity [Abstract]
Common stock/unit per share	$ 0.595	$ 0.595

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Cash flows from operating activities:
Net income (loss)	$ 81,625	$ (24,783)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	77,259	89,295
Amortization of deferred loan costs and debt premiums	2,167	2,619
(Accretion) and amortization of above and below market lease intangibles, net	(5,576)	(12,460)
Stock-based compensation, net of capitalization	2,420	3,320
Equity in income of investments in real estate partnerships	(11,666)	(11,418)
Gain on sale of real estate, net of tax	(11,698)	(38,005)
Provision for impairment of real estate, net of tax		784	$ (17,500)
Goodwill impairment		132,128
Distribution of earnings from investments in real estate partnerships	16,491	16,440
Settlement of derivative instruments	(2,472)
Deferred compensation expense	1,139	(4,328)
Realized and unrealized (gain) loss on investments	(1,354)	4,923
Changes in assets and liabilities:
Tenant and other receivables	15,760	18,569
Deferred leasing costs	(1,907)	(1,352)
Other assets	(9,801)	(12,201)
Accounts payable and other liabilities	(14,716)	(27,498)
Tenants’ security, escrow deposits and prepaid rent	1,691	(10,355)
Net cash provided by operating activities	139,362	125,678
Cash flows from investing activities:
Acquisition of operating real estate		(16,867)
Advance deposits refunded on acquisition of operating real estate	500	100
Real estate development and capital improvements	(31,378)	(56,309)
Proceeds from sale of real estate investments	53,859	103,522
Issuance of notes receivable	(20)	(167)
Investments in real estate partnerships	(20,223)	(32,972)
Return of capital from investments in real estate partnerships	3,283
Dividends on investment securities	51	84
Acquisition of investment securities	(8,136)	(4,392)
Proceeds from sale of investment securities	8,834	4,448
Net cash provided by (used in) investing activities	6,770	(2,553)
Cash flows from financing activities:
Net proceeds from common stock issuance		125,773
Repurchase of common shares in conjunction with equity award plans	(3,996)	(5,298)
Proceeds from sale of treasury stock	96	49
Distributions to limited partners in consolidated partnerships, net	(785)	(1,064)
Distributions to exchangeable operating partnership unit holders	(453)	(455)
Dividends paid to common stockholders	(100,580)	(99,409)
Proceeds from unsecured credit facilities		610,000
Repayment of unsecured credit facilities	(265,000)	(125,000)
Repayment of notes payable	(3,962)	(3,891)
Scheduled principal payments	(3,114)	(2,547)
Payment of loan costs	(7,468)
Net cash (used in) provided by financing activities	(385,262)	498,158
Net (decrease) increase in cash and cash equivalents and restricted cash	(239,130)	621,283
Cash and cash equivalents and restricted cash at beginning of the period	378,450	115,562	115,562
Cash and cash equivalents and restricted cash at end of the period	139,320	736,845	378,450
Supplemental disclosure of cash flow information:
Cash paid for interest (net of capitalized interest of $849 and $1,175 in 2021 and 2020, respectively)	44,276	47,912
Cash (refunded) paid for income taxes, net	(101)	317
Supplemental disclosure of non-cash transactions:
Acquisition of real estate previously held within investments in real estate partnerships		5,986
Mortgage loan assumed with the acquisition of real estate		16,359
Issuance of exchangeable operating partnership units		1,275
Change in accrued capital expenditures	874	4,942
Common stock issued under dividend reinvestment plan	376	379
Stock-based compensation capitalized	196	554
Common stock and exchangeable operating partnership dividends declared but not paid	101,500
Common stock issued for dividend reinvestment in trust	274	265
Contribution of stock awards into trust	571	862
Distribution of stock held in trust	415	390
Change in fair value of securities	361	577
Partnership Interest [Member]
Cash flows from operating activities:
Net income (loss)	81,625	(24,783)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	77,259	89,295
Amortization of deferred loan costs and debt premiums	2,167	2,619
(Accretion) and amortization of above and below market lease intangibles, net	(5,576)	(12,460)
Stock-based compensation, net of capitalization	2,420	3,320
Equity in income of investments in real estate partnerships	(11,666)	(11,418)
Gain on sale of real estate, net of tax	(11,698)	(38,005)
Provision for impairment of real estate, net of tax		784
Goodwill impairment		132,128
Distribution of earnings from investments in real estate partnerships	16,491	16,440
Settlement of derivative instruments	(2,472)
Deferred compensation expense	1,139	(4,328)
Realized and unrealized (gain) loss on investments	(1,354)	4,923
Changes in assets and liabilities:
Tenant and other receivables	15,760	18,569
Deferred leasing costs	(1,907)	(1,352)
Other assets	(9,801)	(12,201)
Accounts payable and other liabilities	(14,716)	(27,498)
Tenants’ security, escrow deposits and prepaid rent	1,691	(10,355)
Net cash provided by operating activities	139,362	125,678
Cash flows from investing activities:
Acquisition of operating real estate		(16,867)
Advance deposits refunded on acquisition of operating real estate	500	100
Real estate development and capital improvements	(31,378)	(56,309)
Proceeds from sale of real estate investments	53,859	103,522
Issuance of notes receivable	(20)	(167)
Investments in real estate partnerships	(20,223)	(32,972)
Return of capital from investments in real estate partnerships	3,283
Dividends on investment securities	51	84
Acquisition of investment securities	(8,136)	(4,392)
Proceeds from sale of investment securities	8,834	4,448
Net cash provided by (used in) investing activities	6,770	(2,553)
Cash flows from financing activities:
Net proceeds from common stock issuance		125,773
Repurchase of common shares in conjunction with equity award plans	(3,996)	(5,298)
Proceeds from sale of treasury stock	96	49
Distributions to limited partners in consolidated partnerships, net	(785)	(1,064)
Dividends paid to common stockholders	(101,033)	(99,864)
Proceeds from unsecured credit facilities		610,000
Repayment of unsecured credit facilities	(265,000)	(125,000)
Repayment of notes payable	(3,962)	(3,891)
Scheduled principal payments	(3,114)	(2,547)
Payment of loan costs	(7,468)
Net cash (used in) provided by financing activities	(385,262)	498,158
Net (decrease) increase in cash and cash equivalents and restricted cash	(239,130)	621,283
Cash and cash equivalents and restricted cash at beginning of the period	378,450	115,562	115,562
Cash and cash equivalents and restricted cash at end of the period	139,320	736,845	$ 378,450
Supplemental disclosure of cash flow information:
Cash paid for interest (net of capitalized interest of $849 and $1,175 in 2021 and 2020, respectively)	44,276	47,912
Cash (refunded) paid for income taxes, net	(101)	317
Supplemental disclosure of non-cash transactions:
Acquisition of real estate previously held within investments in real estate partnerships		5,986
Mortgage loan assumed with the acquisition of real estate		16,359
Issuance of exchangeable operating partnership units		1,275
Change in accrued capital expenditures	874	4,942
Common stock issued under dividend reinvestment plan	376	379
Stock-based compensation capitalized	196	554
Common stock and exchangeable operating partnership dividends declared but not paid	101,500
Common stock issued for dividend reinvestment in trust	274	265
Contribution of stock awards into trust	571	862
Distribution of stock held in trust	415	390
Change in fair value of securities	$ 361	$ 577

Consolidated Statements of Cash Flows (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Capitalized interest	$ 849	$ 1,175
Partnership Interest [Member]
Capitalized interest	$ 849	$ 1,175

Consolidated Statement of Changes in Partner Capital Statement - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Net income (loss)	$ 81,625	$ (24,783)
Other comprehensive (loss) income
Amounts reclassified from accumulated other comprehensive loss	1,035	1,425
Contributions from partners		100
Issuance of exchangeable operating partnership units		1,275
Distributions to partners	(785)	(1,164)
Restricted units issued as a result of restricted stock issued by Parent Company, net of amortization	2,479	3,764
Partners Capital Total [Member]
Net income (loss)	80,656	(25,332)
Other comprehensive (loss) income
Amounts reclassified from accumulated other comprehensive loss	951	1,404
Restricted units issued as a result of restricted stock issued by Parent Company, net of amortization	2,479	3,764
Partnership Interest [Member]
Beginning Balance	6,058,147	6,289,961
Net income (loss)	81,625	(24,783)
Other comprehensive (loss) income
Other comprehensive (loss) income before reclassification	5,525	(16,064)
Amounts reclassified from accumulated other comprehensive loss	1,035	1,425
Contributions from partners		100
Issuance of exchangeable operating partnership units		1,275
Distributions to partners	(102,284)	(101,407)
Restricted units issued as a result of restricted stock issued by Parent Company, net of amortization	2,479	3,764
Common units issued as a result of common stock issued by Parent Company, net of issuance costs		125,773
Common units repurchased as a result of common stock repurchased by Parent Company, net of issuances	(3,483)	(4,809)
Ending Balance	6,043,044	6,275,235
Partnership Interest [Member] \| Partners Capital Total [Member]
Beginning Balance	6,020,639	6,249,448
Net income (loss)	81,020	(25,447)
Other comprehensive (loss) income
Other comprehensive (loss) income before reclassification	5,187	(15,005)
Amounts reclassified from accumulated other comprehensive loss	955	1,410
Issuance of exchangeable operating partnership units		1,275
Distributions to partners	(101,499)	(100,243)
Restricted units issued as a result of restricted stock issued by Parent Company, net of amortization	2,479	3,764
Common units issued as a result of common stock issued by Parent Company, net of issuance costs		125,773
Common units repurchased as a result of common stock repurchased by Parent Company, net of issuances	(3,483)	(4,809)
Ending Balance	6,005,298	6,236,166
Partnership Interest [Member] \| AOCI Attributable to Parent [Member]
Beginning Balance	(18,625)	(11,997)
Other comprehensive (loss) income
Other comprehensive (loss) income before reclassification	5,162	(14,938)
Amounts reclassified from accumulated other comprehensive loss	951	1,404
Ending Balance	(12,512)	(25,531)
Partnership Interest [Member] \| Noncontrolling Interest [Member]
Beginning Balance	37,508	40,513
Net income (loss)	605	664
Other comprehensive (loss) income
Other comprehensive (loss) income before reclassification	338	(1,059)
Amounts reclassified from accumulated other comprehensive loss	80	15
Contributions from partners		100
Distributions to partners	(785)	(1,164)
Ending Balance	37,746	39,069
Partnership Interest [Member] \| General Partner [Member]
Beginning Balance	6,003,537	6,225,345
Net income (loss)	80,656	(25,332)
Other comprehensive (loss) income
Distributions to partners	(101,046)	(99,788)
Restricted units issued as a result of restricted stock issued by Parent Company, net of amortization	2,479	3,764
Common units issued as a result of common stock issued by Parent Company, net of issuance costs		125,773
Common units repurchased as a result of common stock repurchased by Parent Company, net of issuances	(3,483)	(4,809)
Ending Balance	5,982,143	6,224,953
Partnership Interest [Member] \| Limited Partner [Member]
Beginning Balance	35,727	36,100
Net income (loss)	364	(115)
Other comprehensive (loss) income
Other comprehensive (loss) income before reclassification	25	(67)
Amounts reclassified from accumulated other comprehensive loss	4	6
Issuance of exchangeable operating partnership units		1,275
Distributions to partners	(453)	(455)
Ending Balance	$ 35,667	$ 36,744

Organization and Significant Accounting Policies

3 Months Ended

Mar. 31, 2021

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Organization and Significant Accounting Policies

1.	Organization and Significant Accounting Policies

General

Regency Centers Corporation (the “Parent Company”) began its operations as a Real Estate Investment Trust (“REIT”) in 1993 and is the general partner of Regency Centers, L.P. (the “Operating Partnership”). The Parent Company primarily engages in the ownership, management, leasing, acquisition, and development and redevelopment of shopping centers through the Operating Partnership, and has no other assets other than through its investment in the Operating Partnership, and its only liabilities are $200 million of unsecured private placement notes, which are co-issued and guaranteed by the Operating Partnership. The Parent Company guarantees all of the unsecured debt of the Operating Partnership.

As of March 31, 2021, the Parent Company, the Operating Partnership, and their controlled subsidiaries on a consolidated basis owned 293 properties and held partial interests in an additional 113 properties through unconsolidated Investments in real estate partnerships (also referred to as “joint ventures” or “investment partnerships”).

The consolidated financial statements reflect all adjustments which are, in the opinion of management, necessary to fairly state the results for the interim periods presented. These adjustments are considered to be of a normal recurring nature.

COVID-19 Update

The COVID-19 pandemic continues to create volatility and uncertainty in the Company’s business performance with particular impact to cash collections, tenant move outs, and new and renewal leasing volumes. The speed of the continued vaccine deployment and the timing of states and localities lifting mandated closures or capacity restrictions, has and will continue to influence the success of tenants. The Company actively monitors its cash collections amid the continuing pandemic. Collection experience since the pandemic began has been lower than historical pre-pandemic averages, but has increased since its low point in the second quarter of 2020 as businesses reopened in states that have lifted or reduced capacity restrictions. Collection rates are expected to remain lower than historical pre-pandemic averages for the foreseeable future until restrictions are significantly lifted and consumers return to in-store experiences. Although continuing to improve, tenants at centers in downtown business districts heavily reliant on employees returning to in-office work are trailing in recovery. Please also refer to the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 for additional discussion of the impact of the COVID-19 pandemic on the Company’s business including, without limitation, the Risk Factors discussed in Item 1A of Part I thereof.

Consolidation

The Company consolidates properties that are wholly-owned and properties where it owns less than 100%, but which it has control over the activities most important to the overall success of the partnership. Control is determined using an evaluation based on accounting standards related to the consolidation of Variable Interest Entities ("VIEs") and voting interest entities.

Ownership of the Operating Partnership

The Operating Partnership’s capital includes general and limited common Partnership Units. As of March 31, 2021, the Parent Company owned approximately 99.6% of the outstanding common Partnership Units of the Operating Partnership, with the remaining limited common Partnership Units held by third parties (“Exchangeable operating partnership units” or “EOP units”). Each EOP unit is exchangeable for cash or one share of common stock of the Parent Company, at the discretion of the Parent Company, and the unit holder cannot require redemption in cash or other assets. The Parent Company has evaluated the conditions as specified under Accounting Standards Codification (“ASC”) Topic 480, Distinguishing Liabilities from Equity as it relates to exchangeable operating partnership units outstanding and concluded that it has the right to satisfy the redemption requirements of the units by delivering unregistered common stock. Accordingly, the Parent Company classifies EOP units as permanent equity in the accompanying Consolidated Balance Sheets and Consolidated Statements of Equity and Comprehensive Income. The Parent Company serves as general partner of the Operating Partnership. The EOP unit holders have limited rights over the Operating Partnership such that they do not have the power to direct the activities of the Operating Partnership. As such, the Operating Partnership is considered a VIE, and the Parent Company, which consolidates it, is the primary beneficiary. The Parent Company’s only investment is the Operating Partnership. Net income and distributions of the Operating Partnership are allocable to the general and limited common Partnership Units in accordance with their ownership percentages.

Real Estate Partnerships

As of March 31, 2021, Regency had a partial ownership interest in 123 properties through partnerships, of which 10 are consolidated. Regency's partners include institutional investors and other real estate developers and/or operators (the “Partners” or “limited partners”). Regency has a variable interest in these entities through its equity interests, with Regency the primary beneficiary in certain of these real estate partnerships. As such, Regency consolidates the partnerships for which it is the primary beneficiary and reports the limited partners’ interests as Noncontrolling interests. For those partnerships which Regency is not the

primary beneficiary and does not control, but has significant influence, Regency recognizes its investment in them using the equity method of accounting.

The assets of these partnerships are restricted to the use of the partnerships and cannot be used by general creditors of the Company. And similarly, the obligations of the partnerships can only be settled by the assets of these partnerships or additional contributions by the partners.

The major classes of assets, liabilities, and non-controlling equity interests held by the Company's consolidated VIEs, exclusive of the Operating Partnership, are as follows:

(in thousands)	March 31, 2021		December 31, 2020
Assets
Net real estate investments	$	127,513		127,240
Cash, cash equivalents and restricted cash		4,793		4,496
Liabilities
Notes payable		6,349		6,340
Equity
Limited partners’ interests in consolidated partnerships		28,534		28,685

Revenues and Other Receivables

Other property income includes incidental income from the properties and is generally recognized at the point in time that the performance obligation is met. All income from contracts with the Company's real estate partnerships is included within Management, transaction and other fees on the Consolidated Statements of Operations. The primary components of these revenue streams, the timing of satisfying the performance obligations, and amounts recognized are as follows:

		Three months ended March 31,
(in thousands)	Timing of satisfaction of performance obligations	2021		2020
Management, transaction and other fees:
Property management services	Over time		3,771		3,879
Asset management services	Over time		1,715		1,838
Leasing services	Point in time		851		710
Other transaction fees	Point in time		56		389
Total management, transaction, and other fees		$	6,393		6,816

The accounts receivable for management services, which are included within Tenant and other receivables in the accompanying Consolidated Balance Sheets, are $10.5 million and $9.9 million, as of March 31, 2021 and December 31, 2020, respectively.

Recent Accounting Pronouncements

The following table provides a brief description of recent accounting pronouncements and expected impact on our financial statements:


Standard	Description	Date of adoption	Effect on the financial statements or other significant matters
Recently adopted:

ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes	The amendments in this update simplify the accounting for income taxes by removing certain exceptions to the general principles in Topic 740, Income Taxes, and also improve consistent application of and simplify GAAP for other areas of Topic 740 by clarifying and amending existing guidance. Notable changes and clarifications of potential impact include income-based franchise taxes being considered income tax, of which the Company has none, and interim period recognition of enacted changes in tax laws or rates, which is consistent with the Company’s existing practice.	January 2021	The adoption of this standard did not have a material impact to the Company’s financial condition, results of operations, cash flows or related footnote disclosures.

Real Estate Investments

3 Months Ended

Mar. 31, 2021

Business Combinations [Abstract]

Real Estate Investments

2.	Real Estate Investments

The Company had no acquisitions of consolidated shopping centers during the three months ended March 31, 2021 as compared to those detailed in the table below for the three months ended March 31, 2020:

(in thousands)

Three months ended March 31, 2020

Date Purchased

Property Name

City/State

Property Type

Ownership

Purchase

Price

Debt

Assumed,

Net of

Premiums

Intangible

Assets

Intangible

Liabilities

1/1/20

Country Walk Plaza ⁽¹⁾

Miami, FL

Operating

100%

39,625

16,359

3,294

2,452

⁽¹⁾ The purchase price presented above reflects the price for 100% of the property, of which the Company previously owned a 30% equity interest prior to acquiring the partner’s interest and gaining control.

Property Dispositions

3 Months Ended

Mar. 31, 2021

Discontinued Operations And Disposal Groups [Abstract]

Property Dispositions

3.	Property Dispositions

The following table provides a summary of consolidated shopping centers and land parcels sold during the periods set forth below:

	Three months ended March 31,
(in thousands, except number sold data)	2021			2020
Net proceeds from sale of real estate investments	$	53,859			103,522	⁽¹⁾
Gain on sale of real estate, net of tax		11,698			38,005
Number of operating properties sold		4			2
Number of land parcels sold		1			1
Percent interest sold		100	%	100%

⁽¹⁾ Includes proceeds from repayment of a short-term note on the sale of one of the properties, issued at closing and repaid during the same three months ended March 31, 2020.

At March 31, 2021, the Company also had one operating property classified within Properties held for sale on the Consolidated Balance Sheets, which has since been sold.

Other Assets

3 Months Ended

Mar. 31, 2021

Other Assets [Abstract]

Other Assets

4.	Other Assets

The following table represents the components of Other assets in the accompanying Consolidated Balance Sheets as of the dates set forth below:

(in thousands)	March 31, 2021		December 31, 2020
Goodwill, net	$	172,120		173,868
Investments		60,993		60,692
Prepaid and other		27,515		17,802
Furniture, fixtures, and equipment, net		6,026		6,560
Deferred financing costs, net		9,167		2,524
Total other assets	$	275,821		261,446

The following table presents the goodwill balances and activity during the year to date periods ended:

	March 31, 2021									December 31, 2020
(in thousands)	Goodwill			Accumulated Impairment Losses			Total			Goodwill			Accumulated Impairment Losses			Total
Beginning of year balance	$	307,413			(133,545	)		173,868			310,388			(2,954	)		307,434
Goodwill allocated to Provision for impairment		—			—			—			—			(132,179	)		(132,179	)
Goodwill allocated to Properties held for sale		(1,306	)		—			(1,306	)		(1,191	)		1,191			—
Goodwill associated with disposed reporting units:
Goodwill allocated to Gain on sale of real estate		(442	)		—			(442	)		(1,784	)		397			(1,387	)
End of period balance	$	305,665			(133,545	)		172,120			307,413			(133,545	)		173,868

As the Company identifies properties (“reporting units”) that no longer meet its investment criteria, it will evaluate the property for potential sale. A decision to sell a reporting unit results in the need to evaluate its goodwill for recoverability and may result in impairment. Additionally, other changes impacting a reporting unit may be considered a triggering event. If events occur that trigger an impairment evaluation at multiple reporting units, a goodwill impairment may be significant.

During 2020, the Company recognized $132.2 million of Goodwill impairment following the market disruptions of the COVID-19 pandemic, which was considered a triggering event requiring evaluation of reporting unit fair values for Goodwill impairment. Of the 269 reporting units with Goodwill, 87 were determined to have fair values lower than carrying value, resulting in $132.2 million of Goodwill impairment.

Notes Payable and Unsecured Credit Facilities

3 Months Ended

Mar. 31, 2021

Debt Disclosure [Abstract]

Notes Payable and Unsecured Credit Facilities

5.	Notes Payable and Unsecured Credit Facilities

The Company’s outstanding debt, net of unamortized debt premium (discount) and debt issuance costs, consisted of the following:

(in thousands)	Weighted Average Contractual Rate	Weighted Average Effective Rate	March 31, 2021		December 31, 2020
Notes payable:
Fixed rate mortgage loans	4.2%	4.0%	$	265,835		272,750
Variable rate mortgage loans ⁽¹⁾	2.8%	2.9%		145,702		146,046
Fixed rate unsecured debt	3.8%	4.0%		3,240,705		3,239,609
Total notes payable				3,652,242		3,658,405
Unsecured credit facilities:
Line of Credit (the "Line")⁽²⁾	1.0%	1.4%		—		—
Term loan ⁽³⁾	2.0%	2.1%		—		264,679
Total unsecured credit facilities				—		264,679
Total debt outstanding			$	3,652,242		3,923,084

⁽¹⁾

Includes six mortgages with interest rates that vary on LIBOR based formulas. Four of these variable rate loans have interest rate swaps in place to fix the interest rates. The effective fixed rates of the loans range from 2.5% to 4.1%.

⁽²⁾

Weighted average effective rate for the Line is calculated based on a fully drawn Line balance.

⁽³⁾

Weighted average contractual and effective rates for the Term Loan are as of December 31, 2020, as the entire balance was repaid during January 2021.

Significant financing activity during 2021 includes:

•

During January 2021, the Company repaid in full the $265 million Term Loan and cash settled its related interest rate swap for $2.5 million.

•

On February 9, 2021, the Company entered into an Amended and Restated Credit Agreement, which among other items, i) retains a borrowing capacity of $1.25 billion, ii) includes a $125 million sublimit for swingline loans and $50 million available for issuance of letters of credits, iii) extends the maturity date to March 23, 2025 and iv) provides for two six-month extension options. The existing financial covenants under the Line remained unchanged. As of March 31, 2021, the Company has access to a remaining borrowing capacity of $1.2 billion.

Scheduled principal payments and maturities on notes payable and unsecured credit facilities were as follows:

(in thousands)	March 31, 2021
Scheduled Principal Payments and Maturities by Year:	Scheduled Principal Payments		Mortgage Loan Maturities		Unsecured Maturities ⁽¹⁾			Total
2021 ⁽²⁾	$	8,504		36,604		—			45,108
2022		11,389		5,848		—			17,237
2023		9,695		65,725		—			75,420
2024		4,849		90,742		250,000			345,591
2025		3,732		40,000		250,000			293,732
Beyond 5 Years		10,583		120,969		2,775,000			2,906,552
Unamortized debt premium/(discount) and issuance costs		—		2,897		(34,295	)		(31,398	)
Total	$	48,752		362,785		3,240,705			3,652,242

⁽¹⁾

Includes unsecured public and private debt and unsecured credit facilities.

⁽²⁾

Reflects scheduled principal payments for the remainder of the year.

The Company was in compliance as of March 31, 2021, with the financial and other covenants under its unsecured public and private placement debt and unsecured credit facilities, and expects to remain in compliance for the next twelve months and thereafter.

Derivative Financial Instruments

3 Months Ended

Mar. 31, 2021

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

6.	Derivative Financial Instruments

The Company may use derivative financial instruments, including interest rate swaps, caps, options, floors, and other interest rate derivative contracts, to hedge all or a portion of the interest rate risk associated with its borrowings. The principal objective of such arrangements is to minimize the risks and/or costs associated with the Company’s operating and financial structure as well as to hedge specific anticipated transactions. The Company does not intend to utilize derivatives for speculative transactions or purposes other than interest rate risk management. The use of derivative financial instruments carries certain risks, including the risk that the counterparties to these contractual arrangements are not able to perform under the agreements. To mitigate this risk, the Company only enters into derivative financial instruments with counterparties with high credit ratings and with major financial institutions with which the Company and its affiliates may also have other financial relationships. The Company does not anticipate that any of the counterparties will fail to meet their obligations.

The Company’s objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish this objective, the Company primarily uses interest rate swaps as part of its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount.

The following table summarizes the terms and fair values of the Company's derivative financial instruments, as well as their classification on the Consolidated Balance Sheets:

						Fair Value
(in thousands)						Assets (Liabilities) ⁽¹⁾
Effective Date	Maturity Date	Notional Amount		Receive Variable Rate of	Pay Fixed Rate of	March 31, 2021			December 31, 2020
8/1/16	1/5/22 ⁽²⁾	$	265,000	1 Month LIBOR with Floor	1.053%	$	—			(2,472	)
4/7/16	4/1/23		19,312	1 Month LIBOR	1.303%		(413	)		(494	)
12/1/16	11/1/23		32,220	1 Month LIBOR	1.490%		(955	)		(1,181	)
9/17/19	3/17/25		24,000	1 Month LIBOR	1.542%		(834	)		(1,288	)
6/2/17	6/2/27		36,449	1 Month LIBOR with Floor	2.366%		(2,414	)		(3,856	)
						$	(4,616	)		(9,291	)

⁽¹⁾	Derivatives in an asset position are included within Other assets in the accompanying Consolidated Balance Sheets, while those in a liability position are included within Accounts payable and other liabilities.

⁽²⁾	In January 2021, the Company cash settled before maturity the $265 million notional interest rate swaps in connection with its repayment of the Term Loan.

These derivative financial instruments are all interest rate swaps, which are designated and qualify as cash flow hedges. The Company does not use derivatives for trading or speculative purposes and, as of March 31, 2021, does not have any derivatives that are not designated as hedges.

The changes in the fair value of derivatives designated and qualifying as cash flow hedges is recorded in Accumulated Other Comprehensive Loss (“AOCI”) and subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings.

The following table represents the effect of the derivative financial instruments on the accompanying consolidated financial statements:

Location and Amount of Gain (Loss) Recognized in OCI on Derivative						Location and Amount of Gain (Loss) Reclassified from AOCI into Income					Total amounts presented in the Consolidated Statements of Operations in which the effects of cash flow hedges are recorded
	Three months ended March 31,						Three months ended March 31,					Three months ended March 31,
(in thousands)	2021		2020				2021		2020			2021		2020
Interest rate swaps	$	5,810		(16,079	)	Interest expense	$	1,035		1,425	Interest expense, net	$	36,936		37,436

As of March 31, 2021, the Company expects approximately $3.7 million of accumulated comprehensive losses on derivative instruments in AOCI, including the Company's share from its Investments in real estate partnerships, to be reclassified into earnings during the next 12 months.

Leases

3 Months Ended

Mar. 31, 2021

Leases [Abstract]

Leases

All of the Company’s leases are classified as operating leases. The Company's Lease income is comprised of both fixed and variable income. Fixed and in-substance fixed lease income includes stated amounts per the lease contract, which are primarily related to base rent, and in some cases stated amounts for common area maintenance (“CAM”), real estate taxes, and insurance. Income for these amounts is recognized on a straight-line basis.

Variable lease income includes the following two main items in the lease contracts:

(i) Recoveries from tenants represents amounts tenants are contractually obligated to reimburse the Company for the tenants’ portion of actual Recoverable Costs incurred. Generally the Company’s leases provide for the tenants to reimburse the Company based on the tenants’ share of the actual costs incurred in proportion to the tenants’ share of leased space in the property.

(ii) Percentage rent represents amounts billable to tenants based on the tenants' actual sales volume in excess of levels specified in the lease contract.

The following table provides a disaggregation of lease income recognized as either fixed or variable lease income based on the criteria specified in ASC Topic 842:

(in thousands)	Three months ended March 31,
	2021			2020
Operating lease income
Fixed and in-substance fixed lease income	$	196,054			204,943
Variable lease income		64,067			64,668
Other lease related income, net:
Above/below market rent and tenant rent inducement amortization, net		5,996			12,880
Uncollectible straight line rent		(2,035	)		(3,902	)
Uncollectible amounts billable in lease income		2,275			(4,052	)
Total lease income	$	266,357			274,537

Lease income for operating leases with fixed payment terms is recognized on a straight-line basis over the expected term of the lease for all leases for which collectibility is considered probable at the commencement date. At lease commencement, the Company generally expects that collectibility is probable due to the Company’s credit checks on tenants and other creditworthiness analysis undertaken before entering into a new lease; therefore, income from most operating leases is initially recognized on a straight-line basis. For operating leases in which collectibility of Lease income is not considered probable, Lease

income is recognized on a cash basis and all previously recognized straight-line rent receivables are reversed in the period in which the Lease income is determined not to be probable of collection. In addition to the lease-specific collectibility assessment performed under Topic 842, the Company also recognizes a general reserve, as a reduction to Lease income, for its portfolio of operating lease receivables which are not expected to be fully collectible based on the Company’s historical collection experience.

COVID-19 Pandemic and Rent Concessions

During 2020, in response to the pandemic and the resulting entry into agreements for rent concessions between tenants and landlords, the FASB issued interpretive guidance relating to the accounting for lease concessions provided as a result of COVID-19. In this guidance, entities could elect not to apply lease modification accounting with respect to such lease concessions, and instead, treat the concession as if it was a part of the existing contract and therefore continue to recognize the deferred rents in the period originally billed subject to separate collectibility assessments under Topic 842. This guidance is only applicable to COVID-19 related lease concessions that do not result in a substantial increase in the right of the lessor or the obligations of the lessee. The Company has elected to treat concessions that satisfy this criteria as though the concession was part of the existing contract and therefore not treated like a lease modification.

During the three months ended March 31, 2021, the Company experienced higher uncollectible lease income on current period billings compared to the three months ended March 31, 2020 when the Company was only seeing the first indications of the pandemic’s impact on tenants. However, this higher uncollectible lease income was offset by collections of prior period billings from our cash basis tenants resulting in a net positive impact of $2.3 million.

The Company continues to negotiate with certain remaining tenants, which may result in further rent concessions as determined necessary and appropriate. Collectibility of these concessions generally includes consideration of the tenants’ business performance, ability to sustain their business in the current environment, as well as an assessment of their credit worthiness and ability to repay such amounts in the future.

The following table represents the components of Tenant and other receivables in the accompanying Consolidated Balance Sheets:

(in thousands)	March 31, 2021		December 31, 2020
Tenant receivables	$	21,630	$	39,658
Straight-line rent receivables		87,180		86,615
Other receivables⁽¹⁾		18,645		17,360
Total tenant and other receivables	$	127,455	$	143,633

⁽¹⁾

Other receivables include construction receivables, insurance receivables, and amounts due from real estate partnerships for Management, transaction and other fee income.

Fair Value Measurements

3 Months Ended

Mar. 31, 2021

Fair Value Disclosures [Abstract]

Fair Value Measurements

8.	Fair Value Measurements

(a) Disclosure of Fair Value of Financial Instruments

All financial instruments of the Company are reflected in the accompanying Consolidated Balance Sheets at amounts which, in management's estimation, reasonably approximate their fair values, except for the following:

	March 31, 2021				December 31, 2020
(in thousands)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Financial liabilities:
Notes payable	$	3,652,242		3,943,126		3,658,405		4,102,382
Unsecured credit facilities	$	—		—		264,679		265,226

The above fair values represent management's estimate of the amounts that would be received from selling those assets or that would be paid to transfer those liabilities in an orderly transaction between market participants as of March 31, 2021 and December 31, 2020, respectively. These fair value measurements maximize the use of observable inputs which are classified within level 2 of the fair value hierarchy. However, in situations where there is little, if any, market activity for the asset or liability at the measurement date, the fair value measurement reflects the Company's own judgments about the assumptions that market participants would use in pricing the asset or liability.

The Company develops its judgments based on the best information available at the measurement date, including expected cash flows, appropriate risk-adjusted discount rates, and available observable and unobservable inputs. Service providers involved in fair value measurements are evaluated for competency and qualifications on an ongoing basis. As considerable judgment is often

necessary to estimate the fair value of these financial instruments, the fair values presented above are not necessarily indicative of amounts that will be realized upon disposition of the financial instruments.

(b) Fair Value Measurements

The following financial instruments are measured at fair value on a recurring basis:

Securities

The Company has investments in marketable securities that are included within Other assets on the accompanying Consolidated Balance Sheets. The fair value of the securities was determined using quoted prices in active markets, which are considered Level 1 inputs of the fair value hierarchy. Changes in the value of securities are recorded within Net investment (income) loss in the accompanying Consolidated Statements of Operations, and include unrealized gains of $0.4 million and unrealized losses of $5.4 million during the three months ended March 31, 2021 and 2020, respectively.

Available-for-Sale Debt Securities

Available-for-sale debt securities consist of investments in certificates of deposit and corporate bonds, and are recorded at fair value using matrix pricing methods to estimate fair value, which are considered Level 2 inputs of the fair value hierarchy. Unrealized gains or losses on these debt securities are recognized through other comprehensive income.

Interest Rate Derivatives

The fair value of the Company's interest rate derivatives is determined using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves and implied volatilities. The Company incorporates credit valuation adjustments to appropriately reflect both its own nonperformance risk and the respective counterparty's nonperformance risk in the fair value measurements.

Although the Company has determined that the majority of the inputs used to value its derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with its derivatives utilize Level 3 inputs, such as estimates of current credit spreads, to evaluate the likelihood of default by the Company and its counterparties. The Company has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and has determined that the credit valuation adjustments are not significant to the overall valuation of its interest rate swaps. As a result, the Company determined that its interest rate swaps valuation in its entirety is classified in Level 2 of the fair value hierarchy.

The following tables present the placement in the fair value hierarchy of assets and liabilities that are measured at fair value on a recurring basis:

	Fair Value Measurements as of March 31, 2021
				Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs			Significant Unobservable Inputs
(in thousands)	Balance			(Level 1)		(Level 2)			(Level 3)
Assets:
Securities	$	45,337			45,337		—			—
Available-for-sale debt securities		15,656			—		15,656			—
Total	$	60,993			45,337		15,656			—
Liabilities:
Interest rate derivatives	$	(4,616	)		—		(4,616	)		—

	Fair Value Measurements as of December 31, 2020
				Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs			Significant Unobservable Inputs
(in thousands)	Balance			(Level 1)		(Level 2)			(Level 3)
Assets:
Securities	$	44,986			44,986		—			—
Available-for-sale debt securities		15,706			—		15,706			—
Total	$	60,692			44,986		15,706			—
Liabilities:
Interest rate derivatives	$	(9,291	)		—		(9,291	)		—

There were no assets measured at fair value on a nonrecurring basis as of March 31, 2021. The following tables present the placement in the fair value hierarchy of assets and liabilities that are measured at fair value on a nonrecurring basis as of December 31, 2020:

Fair Value Measurements as of December 31, 2020

Quoted Prices in Active Markets for Identical Assets

Significant Other Observable Inputs

Significant Unobservable Inputs

Total Gains

(in thousands)

Balance

(Level 1)

(Level 2)

(Level 3)

(Losses)

Operating properties

25,000

—

25,000

—

(17,532

)

During 2020, the Company recognized a Provision for impairment of $17.5 million on an operating property held and used.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Equity and Capital

3 Months Ended

Mar. 31, 2021

Equity And Capital [Abstract]

Equity and Capital

9.	Equity and Capital

Common Stock of the Parent Company

Dividends Declared

On May 5, 2021, our Board of Directors declared a common stock dividend of $0.595 per share, payable on July 6, 2021, to shareholders of record as of June 15, 2021.

At the Market (“ATM”) Program

Under the Parent Company's ATM equity offering program, the Parent Company may sell up to $500 million of common stock at prices determined by the market at the time of sale. There were no shares issued under the ATM equity program during the three months ended March 31, 2021. As of March 31, 2021, all $500 million of common stock authorized under the ATM program remained available for issuance.

Share Repurchase Program

On February 3, 2021, the Company's Board authorized a common share repurchase program under which the Company may purchase, from time to time, up to a maximum of $250 million shares of its outstanding common stock through open market purchases or in privately negotiated transactions. Any shares purchased, if not retired, will be treated as treasury shares. The program is set to expire on February 3, 2023, but may be modified or terminated at the discretion of the Board. The timing and actual number of shares purchased under the program depend upon marketplace conditions, liquidity needs, and other factors. Through March 31, 2021, no shares have been repurchased under this program.

Common Units of the Operating Partnership

Common units of the operating partnership are issued or redeemed and retired for each of the shares of Parent Company common stock issued or repurchased and retired, as described above.

Stock-Based Compensation

3 Months Ended

Mar. 31, 2021

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock-Based Compensation

10.	Stock-Based Compensation

During the three months ended March 31, 2021, the Company granted 338,449 shares of restricted stock with a weighted-average grant-date fair value of $45.50 per share. The Company records stock-based compensation expense within General and administrative expenses in the accompanying Consolidated Statements of Operations, and records forfeitures as they occur.

Non-Qualified Deferred Compensation Plan

3 Months Ended

Mar. 31, 2021

Compensation And Retirement Disclosure [Abstract]

Non-Qualified Deferred Compensation Plan

11.	Non-Qualified Deferred Compensation Plan (“NQDCP”)

The Company maintains a NQDCP which allows select employees and directors to defer part or all of their cash bonus, director fees, and vested restricted stock awards. All contributions into the participants' accounts are fully vested upon contribution to the NQDCP and are deposited in a Rabbi trust.

The following table reflects the balances of the assets and deferred compensation liabilities of the Rabbi trust and related participant account obligations in the accompanying Consolidated Balance Sheets, excluding Regency stock:

(in thousands)	March 31, 2021		December 31, 2020		Location in Consolidated Balance Sheets
Assets:
Securities	$	41,054		40,964	Other assets
Liabilities:
Deferred compensation obligation	$	41,054		40,962	Accounts payable and other liabilities

Earnings per Share and Unit

3 Months Ended

Mar. 31, 2021

Earnings Per Share And Unit [Abstract]

Earnings per Share and Unit

12.	Earnings per Share and Unit

Parent Company Earnings per Share

The following summarizes the calculation of basic and diluted earnings per share:

	Three months ended March 31,
(in thousands, except per share data)	2021		2020
Numerator:
Income (loss) attributable to common stockholders - basic	$	80,656		(25,332	)
Income (loss) attributable to common stockholders - diluted	$	80,656		(25,332	)
Denominator:
Weighted average common shares outstanding for basic EPS		169,768		167,908
Weighted average common shares outstanding for diluted EPS ⁽¹⁾		170,006		167,908
Income (loss) per common share – basic	$	0.48		(0.15	)
Income (loss) per common share – diluted	$	0.47		(0.15	)

⁽¹⁾

^{The three months ended March 31, 2020 excludes the impact of unvested restricted stock because they would be anti-dilutive}

Income allocated to noncontrolling interests of the Operating Partnership has been excluded from the numerator and exchangeable Operating Partnership units have been omitted from the denominator for the purpose of computing diluted earnings per share since the effect of including these amounts in the numerator and denominator would be anti-dilutive. Weighted average exchangeable Operating Partnership units outstanding for the three months ended March 31, 2021 and 2020 was 765,046 for both periods.

Operating Partnership Earnings per Unit

The following summarizes the calculation of basic and diluted earnings per unit:

	Three months ended March 31,
(in thousands, except per share data)	2021		2020
Numerator:
Income (loss) attributable to common unit holders - basic	$	81,020		(25,447	)
Income (loss) attributable to common unit holders - diluted	$	81,020		(25,447	)
Denominator:
Weighted average common units outstanding for basic EPU		170,533		168,673
Weighted average common units outstanding for diluted EPU ⁽¹⁾		170,771		168,673
Income (loss) per common unit – basic	$	0.48		(0.15	)
Income (loss) per common unit – diluted	$	0.47		(0.15	)

⁽¹⁾

^{The three months ended March 31, 2020 excludes the impact of unvested restricted stock because they would be anti-dilutive}

Commitments and Contingencies

3 Months Ended

Mar. 31, 2021

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

13.	Commitments and Contingencies

Litigation

The Company is involved in litigation on a number of matters and is subject to certain claims, which arise in the normal course of business, none of which, in the opinion of management, is expected to have a material adverse effect on the Company's consolidated financial position, results of operations, or liquidity. However, no assurances can be given as to the outcome of any threatened or pending legal proceedings. Legal fees are expensed as incurred.

Environmental

The Company is subject to numerous environmental laws and regulations pertaining primarily to chemicals historically used by certain current and former dry cleaning tenants, the existence of asbestos in older shopping centers, and older underground petroleum storage tanks. The Company believes that the ultimate disposition of currently known environmental matters will not have a material effect on its financial position, liquidity, or operations. The Company can give no assurance that existing environmental studies with respect to its shopping centers have revealed all potential environmental contaminants; that its estimate of liabilities will not change as more information becomes available; that any previous owner, occupant or tenant did not create any material environmental condition not known to the Company; that the current environmental condition of the shopping centers will not be affected by tenants and occupants, by the condition of nearby properties, or by unrelated third parties; and that changes in applicable environmental laws and regulations or their interpretation will not result in additional environmental liability to the Company.

Letters of Credit

The Company has the right to issue letters of credit under the Line up to an amount not to exceed $50.0 million, which reduces the credit availability under the Line. These letters of credit are primarily issued as collateral on behalf of its captive insurance program and to facilitate the construction of development projects. As of March 31, 2021 and December 31, 2020, the Company had $9.7 million in letters of credit outstanding.

Organization and Significant Accounting Policies (Policies)

3 Months Ended

Mar. 31, 2021

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Consolidation

Ownership of the Operating Partnership

Real Estate Partnerships

primary beneficiary and does not control, but has significant influence, Regency recognizes its investment in them using the equity method of accounting.

The major classes of assets, liabilities, and non-controlling equity interests held by the Company's consolidated VIEs, exclusive of the Operating Partnership, are as follows:

(in thousands)	March 31, 2021		December 31, 2020
Assets
Net real estate investments	$	127,513		127,240
Cash, cash equivalents and restricted cash		4,793		4,496
Liabilities
Notes payable		6,349		6,340
Equity
Limited partners’ interests in consolidated partnerships		28,534		28,685

Revenues and Other Receivables

		Three months ended March 31,
(in thousands)	Timing of satisfaction of performance obligations	2021		2020
Management, transaction and other fees:
Property management services	Over time		3,771		3,879
Asset management services	Over time		1,715		1,838
Leasing services	Point in time		851		710
Other transaction fees	Point in time		56		389
Total management, transaction, and other fees		$	6,393		6,816

Recent Accounting Pronouncements

The following table provides a brief description of recent accounting pronouncements and expected impact on our financial statements:


Standard	Description	Date of adoption	Effect on the financial statements or other significant matters
Recently adopted:

ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes	The amendments in this update simplify the accounting for income taxes by removing certain exceptions to the general principles in Topic 740, Income Taxes, and also improve consistent application of and simplify GAAP for other areas of Topic 740 by clarifying and amending existing guidance. Notable changes and clarifications of potential impact include income-based franchise taxes being considered income tax, of which the Company has none, and interim period recognition of enacted changes in tax laws or rates, which is consistent with the Company’s existing practice.	January 2021	The adoption of this standard did not have a material impact to the Company’s financial condition, results of operations, cash flows or related footnote disclosures.

Organization and Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2021

Accounting Changes And Error Corrections [Abstract]

Schedule of Variable Interest Entities

The major classes of assets, liabilities, and non-controlling equity interests held by the Company's consolidated VIEs, exclusive of the Operating Partnership, are as follows:

(in thousands)	March 31, 2021		December 31, 2020
Assets
Net real estate investments	$	127,513		127,240
Cash, cash equivalents and restricted cash		4,793		4,496
Liabilities
Notes payable		6,349		6,340
Equity
Limited partners’ interests in consolidated partnerships		28,534		28,685

Revenues and Other Receivables

		Three months ended March 31,
(in thousands)	Timing of satisfaction of performance obligations	2021		2020
Management, transaction and other fees:
Property management services	Over time		3,771		3,879
Asset management services	Over time		1,715		1,838
Leasing services	Point in time		851		710
Other transaction fees	Point in time		56		389
Total management, transaction, and other fees		$	6,393		6,816

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

The following table provides a brief description of recent accounting pronouncements and expected impact on our financial statements:


Standard	Description	Date of adoption	Effect on the financial statements or other significant matters
Recently adopted:

ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes	The amendments in this update simplify the accounting for income taxes by removing certain exceptions to the general principles in Topic 740, Income Taxes, and also improve consistent application of and simplify GAAP for other areas of Topic 740 by clarifying and amending existing guidance. Notable changes and clarifications of potential impact include income-based franchise taxes being considered income tax, of which the Company has none, and interim period recognition of enacted changes in tax laws or rates, which is consistent with the Company’s existing practice.	January 2021	The adoption of this standard did not have a material impact to the Company’s financial condition, results of operations, cash flows or related footnote disclosures.

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details

Real Estate Investments (Tables)

3 Months Ended

Mar. 31, 2021

Real Estate [Abstract]

Schedule of business acquisitions

(in thousands)

Three months ended March 31, 2020

Date Purchased

Property Name

City/State

Property Type

Ownership

Purchase

Price

Debt

Assumed,

Net of

Premiums

Intangible

Assets

Intangible

Liabilities

1/1/20

Country Walk Plaza ⁽¹⁾

Miami, FL

Operating

100%

39,625

16,359

3,294

2,452

Property Dispositions (Tables)

3 Months Ended

Mar. 31, 2021

Discontinued Operations And Disposal Groups [Abstract]

Schedule of Properties Disposed of

The following table provides a summary of consolidated shopping centers and land parcels sold during the periods set forth below:

	Three months ended March 31,
(in thousands, except number sold data)	2021			2020
Net proceeds from sale of real estate investments	$	53,859			103,522	⁽¹⁾
Gain on sale of real estate, net of tax		11,698			38,005
Number of operating properties sold		4			2
Number of land parcels sold		1			1
Percent interest sold		100	%	100%

⁽¹⁾ Includes proceeds from repayment of a short-term note on the sale of one of the properties, issued at closing and repaid during the same three months ended March 31, 2020.

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

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+ Details

Other Assets (Tables)

3 Months Ended

Mar. 31, 2021

Other Assets [Abstract]

Schedule of Other Assets

The following table represents the components of Other assets in the accompanying Consolidated Balance Sheets as of the dates set forth below:

(in thousands)	March 31, 2021		December 31, 2020
Goodwill, net	$	172,120		173,868
Investments		60,993		60,692
Prepaid and other		27,515		17,802
Furniture, fixtures, and equipment, net		6,026		6,560
Deferred financing costs, net		9,167		2,524
Total other assets	$	275,821		261,446

Schedule of Goodwill

The following table presents the goodwill balances and activity during the year to date periods ended:

	March 31, 2021									December 31, 2020
(in thousands)	Goodwill			Accumulated Impairment Losses			Total			Goodwill			Accumulated Impairment Losses			Total
Beginning of year balance	$	307,413			(133,545	)		173,868			310,388			(2,954	)		307,434
Goodwill allocated to Provision for impairment		—			—			—			—			(132,179	)		(132,179	)
Goodwill allocated to Properties held for sale		(1,306	)		—			(1,306	)		(1,191	)		1,191			—
Goodwill associated with disposed reporting units:
Goodwill allocated to Gain on sale of real estate		(442	)		—			(442	)		(1,784	)		397			(1,387	)
End of period balance	$	305,665			(133,545	)		172,120			307,413			(133,545	)		173,868

Notes Payable and Unsecured Credit Facilities (Tables)

3 Months Ended

Mar. 31, 2021

Debt Disclosure [Abstract]

Schedule of Debt Net of Unamortized Debt Premium (Discount) and Debt Issuance Costs

The Company’s outstanding debt, net of unamortized debt premium (discount) and debt issuance costs, consisted of the following:

(in thousands)	Weighted Average Contractual Rate	Weighted Average Effective Rate	March 31, 2021		December 31, 2020
Notes payable:
Fixed rate mortgage loans	4.2%	4.0%	$	265,835		272,750
Variable rate mortgage loans ⁽¹⁾	2.8%	2.9%		145,702		146,046
Fixed rate unsecured debt	3.8%	4.0%		3,240,705		3,239,609
Total notes payable				3,652,242		3,658,405
Unsecured credit facilities:
Line of Credit (the "Line")⁽²⁾	1.0%	1.4%		—		—
Term loan ⁽³⁾	2.0%	2.1%		—		264,679
Total unsecured credit facilities				—		264,679
Total debt outstanding			$	3,652,242		3,923,084

⁽¹⁾

⁽²⁾

Weighted average effective rate for the Line is calculated based on a fully drawn Line balance.

⁽³⁾

Weighted average contractual and effective rates for the Term Loan are as of December 31, 2020, as the entire balance was repaid during January 2021.

Schedule of maturities of long-term debt

Scheduled principal payments and maturities on notes payable and unsecured credit facilities were as follows:

(in thousands)	March 31, 2021
Scheduled Principal Payments and Maturities by Year:	Scheduled Principal Payments		Mortgage Loan Maturities		Unsecured Maturities ⁽¹⁾			Total
2021 ⁽²⁾	$	8,504		36,604		—			45,108
2022		11,389		5,848		—			17,237
2023		9,695		65,725		—			75,420
2024		4,849		90,742		250,000			345,591
2025		3,732		40,000		250,000			293,732
Beyond 5 Years		10,583		120,969		2,775,000			2,906,552
Unamortized debt premium/(discount) and issuance costs		—		2,897		(34,295	)		(31,398	)
Total	$	48,752		362,785		3,240,705			3,652,242

⁽¹⁾

Includes unsecured public and private debt and unsecured credit facilities.

⁽²⁾

Reflects scheduled principal payments for the remainder of the year.

Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2021

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Schedule of derivative instruments

The following table summarizes the terms and fair values of the Company's derivative financial instruments, as well as their classification on the Consolidated Balance Sheets:

						Fair Value
(in thousands)						Assets (Liabilities) ⁽¹⁾
Effective Date	Maturity Date	Notional Amount		Receive Variable Rate of	Pay Fixed Rate of	March 31, 2021			December 31, 2020
8/1/16	1/5/22 ⁽²⁾	$	265,000	1 Month LIBOR with Floor	1.053%	$	—			(2,472	)
4/7/16	4/1/23		19,312	1 Month LIBOR	1.303%		(413	)		(494	)
12/1/16	11/1/23		32,220	1 Month LIBOR	1.490%		(955	)		(1,181	)
9/17/19	3/17/25		24,000	1 Month LIBOR	1.542%		(834	)		(1,288	)
6/2/17	6/2/27		36,449	1 Month LIBOR with Floor	2.366%		(2,414	)		(3,856	)
						$	(4,616	)		(9,291	)

⁽¹⁾	Derivatives in an asset position are included within Other assets in the accompanying Consolidated Balance Sheets, while those in a liability position are included within Accounts payable and other liabilities.

⁽²⁾	In January 2021, the Company cash settled before maturity the $265 million notional interest rate swaps in connection with its repayment of the Term Loan.

Derivative Instruments, Gain (Loss)

The following table represents the effect of the derivative financial instruments on the accompanying consolidated financial statements:

Location and Amount of Gain (Loss) Recognized in OCI on Derivative						Location and Amount of Gain (Loss) Reclassified from AOCI into Income					Total amounts presented in the Consolidated Statements of Operations in which the effects of cash flow hedges are recorded
	Three months ended March 31,						Three months ended March 31,					Three months ended March 31,
(in thousands)	2021		2020				2021		2020			2021		2020
Interest rate swaps	$	5,810		(16,079	)	Interest expense	$	1,035		1,425	Interest expense, net	$	36,936		37,436

Leases (Tables)

3 Months Ended

Mar. 31, 2021

Leases [Abstract]

Operating Lease, Lease Income

The following table provides a disaggregation of lease income recognized as either fixed or variable lease income based on the criteria specified in ASC Topic 842:

(in thousands)	Three months ended March 31,
	2021			2020
Operating lease income
Fixed and in-substance fixed lease income	$	196,054			204,943
Variable lease income		64,067			64,668
Other lease related income, net:
Above/below market rent and tenant rent inducement amortization, net		5,996			12,880
Uncollectible straight line rent		(2,035	)		(3,902	)
Uncollectible amounts billable in lease income		2,275			(4,052	)
Total lease income	$	266,357			274,537

Components Of Tenant And Other Receivables

The following table represents the components of Tenant and other receivables in the accompanying Consolidated Balance Sheets:

(in thousands)	March 31, 2021		December 31, 2020
Tenant receivables	$	21,630	$	39,658
Straight-line rent receivables		87,180		86,615
Other receivables⁽¹⁾		18,645		17,360
Total tenant and other receivables	$	127,455	$	143,633

⁽¹⁾

Other receivables include construction receivables, insurance receivables, and amounts due from real estate partnerships for Management, transaction and other fee income.

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2021

Fair Value Disclosures [Abstract]

Summary of balance sheet fair values

	March 31, 2021				December 31, 2020
(in thousands)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Financial liabilities:
Notes payable	$	3,652,242		3,943,126		3,658,405		4,102,382
Unsecured credit facilities	$	—		—		264,679		265,226

Summary of assets measured on recurring basis

The following tables present the placement in the fair value hierarchy of assets and liabilities that are measured at fair value on a recurring basis:

	Fair Value Measurements as of March 31, 2021
				Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs			Significant Unobservable Inputs
(in thousands)	Balance			(Level 1)		(Level 2)			(Level 3)
Assets:
Securities	$	45,337			45,337		—			—
Available-for-sale debt securities		15,656			—		15,656			—
Total	$	60,993			45,337		15,656			—
Liabilities:
Interest rate derivatives	$	(4,616	)		—		(4,616	)		—

	Fair Value Measurements as of December 31, 2020
				Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs			Significant Unobservable Inputs
(in thousands)	Balance			(Level 1)		(Level 2)			(Level 3)
Assets:
Securities	$	44,986			44,986		—			—
Available-for-sale debt securities		15,706			—		15,706			—
Total	$	60,692			44,986		15,706			—
Liabilities:
Interest rate derivatives	$	(9,291	)		—		(9,291	)		—

Summary of assets measured on non-recurring basis

The following tables present the placement in the fair value hierarchy of assets and liabilities that are measured at fair value on a nonrecurring basis as of December 31, 2020:

Fair Value Measurements as of December 31, 2020

Quoted Prices in Active Markets for Identical Assets

Significant Other Observable Inputs

Significant Unobservable Inputs

Total Gains

(in thousands)

Balance

(Level 1)

(Level 2)

(Level 3)

(Losses)

Operating properties

25,000

—

25,000

—

(17,532

)

Non-Qualified Deferred Compensation Plan (Tables)

3 Months Ended

Mar. 31, 2021

Compensation And Retirement Disclosure [Abstract]

Summary of balances of the assets and deferred compensation liabilities of the Rabbi trust and related participant account obligations

(in thousands)	March 31, 2021		December 31, 2020		Location in Consolidated Balance Sheets
Assets:
Securities	$	41,054		40,964	Other assets
Liabilities:
Deferred compensation obligation	$	41,054		40,962	Accounts payable and other liabilities

Earnings per Share and Unit (Tables)

3 Months Ended

Mar. 31, 2021

Schedule of earnings per share

The following summarizes the calculation of basic and diluted earnings per share:

	Three months ended March 31,
(in thousands, except per share data)	2021		2020
Numerator:
Income (loss) attributable to common stockholders - basic	$	80,656		(25,332	)
Income (loss) attributable to common stockholders - diluted	$	80,656		(25,332	)
Denominator:
Weighted average common shares outstanding for basic EPS		169,768		167,908
Weighted average common shares outstanding for diluted EPS ⁽¹⁾		170,006		167,908
Income (loss) per common share – basic	$	0.48		(0.15	)
Income (loss) per common share – diluted	$	0.47		(0.15	)

⁽¹⁾

^{The three months ended March 31, 2020 excludes the impact of unvested restricted stock because they would be anti-dilutive}

Partnership Interest [Member]

Schedule of earnings per share

The following summarizes the calculation of basic and diluted earnings per unit:

	Three months ended March 31,
(in thousands, except per share data)	2021		2020
Numerator:
Income (loss) attributable to common unit holders - basic	$	81,020		(25,447	)
Income (loss) attributable to common unit holders - diluted	$	81,020		(25,447	)
Denominator:
Weighted average common units outstanding for basic EPU		170,533		168,673
Weighted average common units outstanding for diluted EPU ⁽¹⁾		170,771		168,673
Income (loss) per common unit – basic	$	0.48		(0.15	)
Income (loss) per common unit – diluted	$	0.47		(0.15	)

⁽¹⁾

^{The three months ended March 31, 2020 excludes the impact of unvested restricted stock because they would be anti-dilutive}

Organization and Significant Accounting Policies - Organization and Principles of Consolidation (Details) $ in Millions	3 Months Ended
	Mar. 31, 2021 USD ($) retail_shopping_center
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Unsecured public and private notes \| $	$ 200
Operating Partnership [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage of outstanding common partnership units	99.60%
Wholly Owned Properties [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Number of real estate properties	293
Unconsolidated Properties [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Number of real estate properties	113

Organization and Significant Accounting Policies - Schedule of Variable Interest Entities (Details) $ in Thousands	Mar. 31, 2021 USD ($) retail_shopping_center	Dec. 31, 2020 USD ($)
Variable Interest Entity [Line Items]
Variable Interest Entity, Consolidated, Carrying Amount, Assets	$ 10,625,988	$ 10,936,904
Variable Interest Entity, Consolidated, Carrying Amount, Liabilities	4,582,944	4,878,757
Noncontrolling Interest in Variable Interest Entity	28,534	28,685
Variable Interest Entity, Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Variable Interest Entity, Consolidated, Carrying Amount, Liabilities	6,349	6,340
Real Estate [Member] \| Variable Interest Entity, Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Variable Interest Entity, Consolidated, Carrying Amount, Assets	127,513	127,240
Cash and Cash Equivalents [Member] \| Variable Interest Entity, Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Variable Interest Entity, Consolidated, Carrying Amount, Assets	$ 4,793	$ 4,496
Partially Owned Properties [Member]
Variable Interest Entity [Line Items]
Number of real estate properties \| retail_shopping_center	123
Consolidated Properties [Member]
Variable Interest Entity [Line Items]
Number of real estate properties \| retail_shopping_center	10

Organization and Significant Accounting Policies - Revenues and Tenant and Other Receivables (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Schedule of management, transaction, and other fees [Line Items]
Management, transaction, and other fees	$ 6,393	$ 6,816
Tenant and other receivables	127,455		$ 143,633
Management, transaction, and other fee [Member]
Schedule of management, transaction, and other fees [Line Items]
Tenant and other receivables	10,500		$ 9,900
Property management services [Member]
Schedule of management, transaction, and other fees [Line Items]
Management, transaction, and other fees	3,771	3,879
Asset management services [Member]
Schedule of management, transaction, and other fees [Line Items]
Management, transaction, and other fees	1,715	1,838
Leasing services [Member]
Schedule of management, transaction, and other fees [Line Items]
Management, transaction, and other fees	851	710
Other transaction fees [Member]
Schedule of management, transaction, and other fees [Line Items]
Management, transaction, and other fees	$ 56	$ 389

Real Estate Investments Business Acquisitions (Details) - Pablo Plaza [Member] $ in Thousands	3 Months Ended
	Mar. 31, 2020 USD ($)
Business Acquisition [Line Items]
Date Purchased	Jan. 01, 2020
Property Name	Country Walk Plaza (1)
City/State	Miami, FL
Ownership	100.00%
Purchase Price	$ 39,625
Debt Assumed, Net of Premiums	16,359
Off-Market Favorable Lease [Member]
Business Acquisition [Line Items]
Intangible Assets	3,294
Off-Market Lease, Unfavorable [Member]
Business Acquisition [Line Items]
Intangible Assets	$ 2,452

Property Dispositions (Details) $ in Thousands	3 Months Ended
Property Dispositions (Details) $ in Thousands	Mar. 31, 2021 USD ($) property	Mar. 31, 2020 USD ($) property
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net proceeds from sale of real estate investments \| $	$ 53,859	$ 103,522
Gain on sale of real estate, net of tax \| $	$ 11,698	$ 38,005
Operating Properties [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties sold classified as held for sale	1
Wholly Owned Properties [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Percent interest sold	100.00%	100.00%
Operating Properties [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties sold	4	2
Land [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties sold	1	1

Schedule of Other Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Other Assets [Abstract]
Goodwill, net	$ 172,120	$ 173,868	$ 307,434
Investments	60,993	60,692
Prepaid and other	27,515	17,802
Furniture, fixtures, and equipment, net	6,026	6,560
Deferred financing costs, net	9,167	2,524
Total other assets	$ 275,821	$ 261,446

Schedule of Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
Schedule of Goodwill (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Goodwill [Line Items]
Goodwill Gross, Beginning balance	$ 307,413	$ 310,388
Goodwill Gross, allocated to Provision for impairment	0	0
Goodwill Gross, allocated to Properties held for sale	(1,306)	(1,191)
Goodwill, ending balance	305,665	307,413
Goodwill, Accumulated Impairment Losses, Beginning balance	(133,545)	(2,954)
Goodwill Accumulated Impairment Losses, allocated to Provision for impairment	0	(132,179)
Goodwill Accumulated Impairment Losses, allocated to Properties held for sale	0	1,191
Goodwill, Accumulated Impairment Losses, Ending balance	(133,545)	(133,545)
Goodwill, Beginning balance	173,868	307,434
Goodwill allocated to Provision for impairment	0	(132,179)
Goodwill allocated to Properties held for sale	(1,306)	0
Goodwill, Ending balance	172,120	173,868
Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member]
Goodwill [Line Items]
Goodwill Gross, allocated to Gain on sale of real estate	(442)	(1,784)
Goodwill Accumulated Impairment Losses, allocated to Gain on sale of real estate	0	397
Goodwill allocated to Gain on sale of real estate	$ (442)	$ (1,387)

Other Assets (Details) $ in Thousands	3 Months Ended		12 Months Ended
Other Assets (Details) $ in Thousands	Mar. 31, 2021 Reportingunit	Mar. 31, 2020 USD ($)	Dec. 31, 2020 USD ($)
Goodwill [Line Items]
Goodwill, impairment loss \| $		$ 132,128
Accumulated Impairment Losses \| Natural Disasters and Other Casualty Events [Member]
Goodwill [Line Items]
Goodwill, impairment loss \| $			$ 132,200
Accumulated Impairment Losses \| Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] \| Natural Disasters and Other Casualty Events [Member]
Goodwill [Line Items]
Number of reporting units \| Reportingunit	269
Fair Value lower than carrying value \| Reportingunit	87

Schedule of Debt Net of Unamortized Debt Premium (Discount) and Debt Issuance Costs (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Long-term Debt	$ 3,652,242	$ 3,923,084
Fixed Rate Mortgage Loans [Member]
Debt Instrument [Line Items]
Debt, Weighted Average Contractual Interest Rate	4.20%
Debt, Weighted Average Effective Interest Rate	4.00%
Long-term Debt	$ 265,835	272,750
Unsecured Debt [Member]
Debt Instrument [Line Items]
Debt, Weighted Average Contractual Interest Rate	3.80%
Debt, Weighted Average Effective Interest Rate	4.00%
Long-term Debt	$ 3,240,705	3,239,609
Total credit facilities		264,679
Notes Payable to Banks [Member]
Debt Instrument [Line Items]
Long-term Debt	$ 3,652,242	3,658,405
Line of Credit [Member]
Debt Instrument [Line Items]
Debt, Weighted Average Contractual Interest Rate	1.00%
Debt, Weighted Average Effective Interest Rate	1.40%
Term Loan [Member]
Debt Instrument [Line Items]
Debt, Weighted Average Contractual Interest Rate	2.00%
Debt, Weighted Average Effective Interest Rate	2.10%
Term Loan [Member] \| Unsecured Debt [Member]
Debt Instrument [Line Items]
Total credit facilities		264,679
London Interbank Offered Rate (LIBOR) [Member] \| Variable Rate Mortgage Loans [Member]
Debt Instrument [Line Items]
Debt, Weighted Average Contractual Interest Rate	2.80%
Debt, Weighted Average Effective Interest Rate	2.90%
Long-term Debt	$ 145,702	$ 146,046

Schedule of Debt Net of Unamortized Debt Premium (Discount) and Debt Issuance Costs (Parentheticals) (Details) - Variable Rate Mortgage Loans [Member] - London Interbank Offered Rate (LIBOR) [Member]	Mar. 31, 2021
Minimum [Member]
Debt Instrument [Line Items]
Debt instrument, effective fixed interest rate	2.50%
Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, effective fixed interest rate	4.10%

Notes Payable and Unsecured Credit Facilities Narrative (Details) - USD ($)		1 Months Ended
	Feb. 09, 2021	Jan. 31, 2021	Mar. 31, 2021
Debt Instrument [Line Items]
Line Of Credit Facility Maximum Borrowing Capacity			$ 1,200,000,000
Long-term Debt, Maturity Date	Mar. 23, 2025
Repayments of loan		$ 265,000,000
Cash paid relating to interest rate swap	$ 2,500,000
Accordion Feature
Debt Instrument [Line Items]
Line Of Credit Facility Maximum Borrowing Capacity	1,250
Swing Loan
Debt Instrument [Line Items]
Line Of Credit Facility Maximum Borrowing Capacity	125,000
Letter of Credit
Debt Instrument [Line Items]
Line Of Credit Facility Maximum Borrowing Capacity	$ 50,000

Notes Payable and Unsecured Credit Facilities Schedule of maturities of long-term debt (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
2021	$ 45,108
2022	17,237
2023	75,420
2024	345,591
2025	293,732
Beyond 5 Years	2,906,552
Unamortized debt premium/(discount) and issuance costs	(31,398)
Total	3,652,242	$ 3,923,084
Unsecured Debt [Member]
Debt Instrument [Line Items]
Total	3,240,705	$ 3,239,609
Scheduled Principal Payments [Member] \| Mortgages [Member]
Debt Instrument [Line Items]
2021	8,504
2022	11,389
2023	9,695
2024	4,849
2025	3,732
Beyond 5 Years	10,583
Unamortized debt premium/(discount) and issuance costs	0
Total	48,752
Mortgage Loan Maturities \| Mortgages [Member]
Debt Instrument [Line Items]
2021	36,604
2022	5,848
2023	65,725
2024	90,742
2025	40,000
Beyond 5 Years	120,969
Unamortized debt premium/(discount) and issuance costs	2,897
Total	362,785
Unsecured Maturities [Member] \| Unsecured Debt [Member]
Debt Instrument [Line Items]
2021	0
2022	0
2023	0
2024	250,000
2025	250,000
Beyond 5 Years	2,775,000
Unamortized debt premium/(discount) and issuance costs	(34,295)
Total	$ 3,240,705

Derivative Financial Instruments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Derivative [Line Items]
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax	$ 5,810	$ (16,079)
Amount reclassified from accumulated other comprehensive loss	1,035	1,425
Interest Expense	36,936	$ 37,436
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months	3,700
Fair Value, Measurements, Recurring [Member]
Derivative [Line Items]
Interest Rate Cash Flow Hedge Liability at Fair Value	(4,616)		$ (9,291)
Fair Value Inputs Level 2 [Member] \| Fair Value, Measurements, Recurring [Member]
Derivative [Line Items]
Interest Rate Cash Flow Hedge Liability at Fair Value	(4,616)		(9,291)
Interest Rate Cash Flow Hedge Derivative At Fair Value Net	$ (4,616)		(9,291)
Derivative @ 1.053% 265.000M [Member]
Derivative [Line Items]
Derivative, Inception Date	Aug. 01, 2016
Derivative, Maturity Date	Jan. 05, 2022
Derivative, Notional Amount	$ 265,000
Derivative, Description of Variable Rate Basis	1 Month LIBOR with Floor
Derivative, Fixed Interest Rate	1.053%
Interest Rate Cash Flow Hedge Liability at Fair Value			(2,472)
Derivative @ 1.303% 19.678M [Member]
Derivative [Line Items]
Derivative, Inception Date	Apr. 07, 2016
Derivative, Maturity Date	Apr. 01, 2023
Derivative, Notional Amount	$ 19,312
Derivative, Description of Variable Rate Basis	1 Month LIBOR
Derivative, Fixed Interest Rate	1.303%
Interest Rate Cash Flow Hedge Liability at Fair Value	$ (413)		(494)
Derivative @ 1.490% 32.809M [Member]
Derivative [Line Items]
Derivative, Inception Date	Dec. 01, 2016
Derivative, Maturity Date	Nov. 01, 2023
Derivative, Notional Amount	$ 32,220
Derivative, Description of Variable Rate Basis	1 Month LIBOR
Derivative, Fixed Interest Rate	1.49%
Interest Rate Cash Flow Hedge Liability at Fair Value	$ (955)		(1,181)
Derivative @ 1.542% 24.000M [Member]
Derivative [Line Items]
Derivative, Inception Date	Sep. 17, 2019
Derivative, Maturity Date	Mar. 17, 2025
Derivative, Notional Amount	$ 24,000
Derivative, Description of Variable Rate Basis	1 Month LIBOR
Derivative, Fixed Interest Rate	1.542%
Interest Rate Cash Flow Hedge Liability at Fair Value	$ (834)		(1,288)
Derivative @ 2.366% 37.022M [Member]
Derivative [Line Items]
Derivative, Inception Date	Jun. 02, 2017
Derivative, Maturity Date	Jun. 02, 2027
Derivative, Notional Amount	$ 36,449
Derivative, Description of Variable Rate Basis	1 Month LIBOR with Floor
Derivative, Fixed Interest Rate	2.366%
Interest Rate Cash Flow Hedge Liability at Fair Value	$ (2,414)		$ (3,856)

Derivative Financial Instruments (Parentheticals) (Details) $ in Thousands	1 Months Ended
	Jan. 31, 2021 USD ($)
Term Loan [Member] \| Interest Rate Swap
Derivative [Line Items]
Repayments of unsecured debt	$ 265

Leases (Details) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Mar. 31, 2021

Mar. 31, 2020

Dec. 31, 2020

Operating Leased Assets [Line Items]

Fixed and in-substance fixed lease income

$ 196,054

$ 204,943

Variable lease income

64,067

64,668

Uncollectible straight line rent

(2,035)

(3,902)

Uncollectible amounts billable in lease income

2,275

(4,052)

Total lease income

266,357

274,537

Uncollectible lease Income from cash basis tenants

2,300

Accounts and Notes Receivable, Net

127,455

$ 143,633

Straight-line rent receivables

87,180

86,615

Tenant Receivables [Member]

Operating Leased Assets [Line Items]

Accounts and Notes Receivable, Net

21,630

39,658

Other Receivable [Member]

Operating Leased Assets [Line Items]

Accounts and Notes Receivable, Net

^[1]

18,645

$ 17,360

Lessor [Member]

Operating Leased Assets [Line Items]

Above/below market rent and tenant rent inducement amortization, net

$ 5,996

$ 12,880

[1]

⁽¹⁾

Other receivables include construction receivables, insurance receivables, and amounts due from real estate partnerships for Management, transaction and other fee income.

Fair Value Measurements (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
Fair Value Measurements (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable	$ 3,652,242		$ 3,658,405
Unsecured credit facilities			264,679
Trading Securities, Change in Unrealized Holding Gain (Loss)	400	$ (5,400)
Impairment of Real Estate		$ (784)	17,500
Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Trading, and Equity Securities, FV-NI	45,337		44,986
Available-for-sale Securities	15,656		15,706
Total	60,993		60,692
Interest Rate Cash Flow Hedge Liability at Fair Value	(4,616)		(9,291)
Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Operating properties			25,000
Impairment of Real Estate			(17,532)
Fair Value Inputs Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, Fair Value	3,943,126		4,102,382
Fair Value Inputs Level 2 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	15,656		15,706
Total	15,656		15,706
Interest Rate Cash Flow Hedge Liability at Fair Value	(4,616)		(9,291)
Fair Value Inputs Level 2 [Member] \| Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Operating properties			25,000
Fair Value Inputs Level 2 [Member] \| Unsecured Credit Facilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unsecured credit facilities, Fair Value			265,226
Fair Value, Inputs, Level 1 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Trading, and Equity Securities, FV-NI	45,337		44,986
Total	$ 45,337		$ 44,986

Equity and Capital - Common Stock (Details) - USD ($)			3 Months Ended
Equity and Capital - Common Stock (Details) - USD ($)	May 05, 2021	Feb. 03, 2021	Mar. 31, 2021	Mar. 31, 2020
Class of Stock [Line Items]
Common stock dividend declared, per share			$ 0.595	$ 0.595
Common stock remaining available for Issuance			500,000,000
Stock Repurchase Program, Authorized Amount		$ 250,000,000
Stock Repurchase Program Expiration Date		Feb. 03, 2023
Common Stock [Member] \| Accumulated Other Comprehensive Income (Loss) [Member]
Class of Stock [Line Items]
Stock Repurchased and Retired During Period, Value			$ 0
Equity Offering Program [Member]
Class of Stock [Line Items]
Shares issued under program			0
Maximum [Member]
Class of Stock [Line Items]
Equity Issuances, Common Shares Authorized for Issuance			500,000,000
Subsequent Event [Member]
Class of Stock [Line Items]
Common stock dividend declared, per share	$ 0.595
Common stock, dividends payable date	Jul. 06, 2021
Common stock, dividends record date	Jun. 15, 2021
Common stock, dividends declared date	May 05, 2021

Stock-Based Compensation (Details) - Restricted Stock [Member]	3 Months Ended
	Mar. 31, 2021 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted \| shares	338,449
Weighted average grant date fair value (in dollars per share) \| $ / shares	$ 45.50

Non-Qualified Deferred Compensation Plan (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Other Assets [Member]
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
Securities	$ 41,054	$ 40,964
Accounts Payable and Other Liabilities [Member]
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
Deferred compensation obligation	$ 41,054	$ 40,962

Earnings per Share and Unit (Details) - USD ($)
$ / shares in Units, $ in Thousands

3 Months Ended

Mar. 31, 2021

Mar. 31, 2020

Earnings Per Share Basic [Line Items]

Income (loss) per common share - basic

$ 0.48

$ (0.15)

Income (loss) per common share - diluted

$ 0.47

$ (0.15)

Weighted Average Limited Partnership Units Outstanding, Basic

765,046

Continuing Operations | Parent Company

Earnings Per Share Basic [Line Items]

Income (loss) attributable to common stockholders - basic

$ 80,656

$ (25,332)

Income (loss) attributable to common stockholders - diluted

$ 80,656

$ (25,332)

Weighted average common shares/units outstanding for basic EPS/EPU

169,768,000

167,908,000

Weighted average common shares/units outstanding for diluted EPS/EPU

^[1]

170,006,000

167,908,000

Income (loss) per common share - basic

$ 0.48

$ (0.15)

Income (loss) per common share - diluted

$ 0.47

$ (0.15)

Continuing Operations | Partnership Interest [Member]

Earnings Per Share Basic [Line Items]

Income (loss) attributable to common stockholders - basic

$ 81,020

$ (25,447)

Income (loss) attributable to common stockholders - diluted

$ 81,020

$ (25,447)

Weighted average common shares/units outstanding for basic EPS/EPU

170,533,000

168,673,000

Weighted average common shares/units outstanding for diluted EPS/EPU

170,771,000

168,673,000

Income (loss) per common share - basic

$ 0.48

$ (0.15)

Income (loss) per common share - diluted

$ 0.47

$ (0.15)

[1]	The three months ended March 31, 2020 excludes the impact of unvested restricted stock because they would be anti-dilutive

Commitments and Contingencies (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Commitments And Contingencies Disclosure [Abstract]
Line of Credit Facility, Maximum Borrowing Capacity	$ 50.0
Letters of Credit Outstanding, Amount	$ 9.7	$ 9.7