0000950170-23-038453 | 10-Q | XBRL Viewer

Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

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		Bank Pays Variable Rate of	Regency Pays Fixed Rate of	June 30, 2023			December 31, 2022
12/1/16	11/1/23		30,806	SOFR	1.490%		407			883
9/17/19	3/17/25		24,000	SOFR	1.443%		1,357			1,443
12/20/19	12/19/26		24,365	SOFR	1.684%		1,938			1,939
2/24/23	12/31/26		15,435	SOFR	4.229%		(25	)		152
6/2/17	6/2/27		35,160	SOFR	2.261%		2,213			2,158
						$	5,890			6,575

(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.

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 June 30,					Three months ended June 30,						Three months ended June 30,
(in thousands)	2023		2022			2023			2022			2023		2022
Interest rate swaps	$	5,457		4,436	Interest expense	$	(1,649	)		481	Interest expense, net	$	36,956		36,699

	Six months ended June 30,					Six months ended June 30,						Six months ended June 30,
(in thousands)	2023		2022			2023			2022			2023		2022
Interest rate swaps	$	2,721		13,404	Interest expense	$	(3,141	)		1,491	Interest expense, net	$	73,349		73,437

Real Estate Investments

6 Months Ended

Jun. 30, 2023

Business Combinations [Abstract]

Real Estate Investments


2.	Real Estate Investments

The following tables detail the properties acquired for the periods set forth below:


(in thousands)		Six months ended June 30, 2023
Date Purchased	Property Name	City/State	Property Type	Regency Ownership	Purchase Price (1)		Debt Assumed, Net of Discounts (1)		Intangible Assets (1)		Intangible Liabilities (1)
Consolidated
5/1/2023	Sienna Phase 1	Houston, TX	Development	100%		2,695		—		—		—
5/18/2023	SunVet	Holbrook, NY	Development	99%		24,140		—		—		—
Total property acquisitions					$	26,835		—		—		—


(in thousands)		Six months ended June 30, 2022
Date Purchased	Property Name	City/State	Property Type	Regency Ownership	Purchase Price (1)		Debt Assumed, Net of Discounts (1)		Intangible Assets (1)		Intangible Liabilities (1)
Consolidated
3/1/2022	Glenwood Green	Old Bridge, NJ	Development	70%		11,000		—		—		—
3/31/2022	Island Village	Bainbridge Island, WA	Operating	100%		30,650		—		2,900		6,839
4/1/2022	Apple Valley (2)	Apple Valley, MN	Operating	100%		34,070		—		4,773		490
4/1/2022	Cedar Commons (2)	Minneapolis, MN	Operating	100%		29,330		—		4,369		58
4/1/2022	Corral Hollow (2)	Tracy, CA	Operating	100%		40,600		—		3,410		74
4/1/2022	Shops at the Columbia (2)	Washington, DC	Operating	100%		14,000		—		889		181
5/6/2022	Baederwood Shoppes	Jenkintown, PA	Operating	80%		51,603		22,779		5,796		1,062
Total consolidated						211,253		22,779		22,137		8,704
Unconsolidated
3/25/2022	Naperville Plaza	Naperville, IL	Operating	20%		52,380		22,074		4,336		814
6/24/2022	Baybrook East 1B	Houston, TX	Development	50%		5,540		—		—		—
Total unconsolidated					$	57,920		22,074		4,336		814
Total property acquisitions					$	269,173		44,853		26,473		9,518

(1)

Amounts for purchase price and allocation are reflected at 100%.

(2)

These properties were part of the four property portfolio purchased from an existing unconsolidated real partnership, RegCal, LLC, in which the Company held a 25% ownership interest. The basis allocated to Real estate assets was $93.2 million on a combined basis, including the Company's carry over basis related to its 25% previously owned equity investment in the partnership.

Consolidated Statements of Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Stockholders' Equity [Abstract]
Common stock/unit per share	$ 0.65	$ 0.625	$ 1.3	$ 1.25

Schedule of Other Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Other Assets [Abstract]
Goodwill	$ 167,062	$ 167,062
Investments	49,616	54,581
Prepaid and other	49,287	28,615
Derivative assets	5,915	6,575
Furniture, fixtures, and equipment, net ("FF&E")	4,953	5,808
Deferred financing costs, net	4,010	5,156
Total other assets	$ 280,843	$ 267,797

- Definition

Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset.

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+ Details

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Leases (Tables)

6 Months Ended

Jun. 30, 2023

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 June 30,					Six months ended June 30,
	2023			2022		2023		2022
Operating lease income
Fixed and in-substance fixed lease income	$	220,191			211,838	$	439,831		419,340
Variable lease income		74,337			67,890		155,118		139,916
Other lease related income, net:
Above/below market rent and tenant rent inducement amortization, net		8,751			5,613		14,616		11,302
Uncollectible straight-line rent		1,522			2,623		2,100		4,905
Uncollectible amounts billable in lease income		(343	)		4,900		1,594		11,046
Total lease income	$	304,458			292,864	$	613,259		586,509

Components Of Tenant And Other Receivables

The following table represents the components of Tenant and other receivables, net of amounts considered uncollectible, in the accompanying Consolidated Balance Sheets:


(in thousands)	June 30, 2023		December 31, 2022
Tenant receivables	$	28,239		31,486
Straight-line rent receivables		133,690		128,214
Other receivables (1)		44,124		29,163
Total tenant and other receivables	$	206,053		188,863

(1)

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

Organization and Significant Accounting Policies - Components of Revenue Streams, Timing of Satisfying Performance Obligations, and Amounts (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Schedule of management, transaction, and other fees [Line Items]
Management, transaction, and other fees	$ 7,106	$ 6,499	$ 13,144	$ 13,183
Property management services [Member]
Schedule of management, transaction, and other fees [Line Items]
Management, transaction, and other fees	3,487	3,310	$ 6,945	6,928
Timing of satisfaction of performance obligations			Over time
Asset management services [Member]
Schedule of management, transaction, and other fees [Line Items]
Management, transaction, and other fees	1,648	1,669	$ 3,277	3,425
Timing of satisfaction of performance obligations			Over time
Leasing services [Member]
Schedule of management, transaction, and other fees [Line Items]
Management, transaction, and other fees	1,096	1,171	$ 1,814	2,167
Timing of satisfaction of performance obligations			Point in time
Other transaction fees [Member]
Schedule of management, transaction, and other fees [Line Items]
Management, transaction, and other fees	$ 875	$ 349	$ 1,108	$ 663
Timing of satisfaction of performance obligations			Point in time

Other Assets

6 Months Ended

Jun. 30, 2023

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)	June 30, 2023		December 31, 2022
Goodwill	$	167,062		167,062
Investments		49,616		54,581
Prepaid and other		49,287		28,615
Derivative assets		5,915		6,575
Furniture, fixtures, and equipment, net ("FF&E")		4,953		5,808
Deferred financing costs, net		4,010		5,156
Total other assets	$	280,843		267,797

Stock-Based Compensation

6 Months Ended

Jun. 30, 2023

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation


10.	Stock-Based Compensation

During the six months ended June 30, 2023, the Company granted 301,099 shares of restricted stock with a weighted-average grant-date fair value of $68.29 per share. The Company records stock-based compensation expense within General and administrative expenses in the accompanying Consolidated Statements of Operations, and recognizes forfeitures as they occur.

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 86,782	$ 104,796	$ 184,063	$ 300,024

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Fair Value Measurements (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Fair Value Measurements (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable	$ 3,709,074		$ 3,709,074		$ 3,726,754
Trading securities, unrealized holding gain (loss)	1,400	$ (5,500)	3,000	$ (8,500)
Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities	34,471		34,471		40,089
Available-for-sale debt securities	15,145		15,145		14,492
Interest rate derivatives	5,915		5,915		6,575
Total	55,531		55,531		61,156
Interest rate derivatives	(25)		(25)
Fair Value Inputs Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, Fair Value	3,367,758		3,367,758		3,333,378
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 debt securities	15,145		15,145		14,492
Interest rate derivatives	5,915		5,915		6,575
Total	21,060		21,060		21,067
Interest rate derivatives	(25)		(25)
Fair Value, Inputs, Level 1 [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities	34,471		34,471		40,089
Total	$ 34,471		$ 34,471		$ 40,089

Notes Payable and Unsecured Credit Facilities - Additional Information (Details) $ in Thousands	Jun. 30, 2023 USD ($)
Debt Instrument [Line Items]
Debt maturing over the next twelve months	$ 345,786

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
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-Section 50
-Paragraph 1
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-URI https://asc.fasb.org//1943274/2147482900/835-30-50-1

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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Reference 22: http://www.xbrl.org/2003/role/disclosureRef
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
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+ Details

Consolidated Statement of Capital (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Net income	$ 88,172	$ 105,987	$ 186,660	$ 302,803
Other comprehensive income
Amounts reclassified from accumulated other comprehensive income (loss)	(1,649)	481	(3,141)	1,491
Contributions from partners	1,428	10,446	3,205	10,446
Issuance of exchangeable operating partnership units	20,000		20,000
Distributions to partners	(941)	(2,705)	(1,980)	(3,775)
Restricted units issued as a result of restricted stock issued by Parent Company, net of amortization	4,105	4,366	8,924	8,574
Total Partners' Capital [Member]
Net income	86,782	104,796	184,063	300,024
Other comprehensive income
Amounts reclassified from accumulated other comprehensive income (loss)	(1,477)	409	(2,794)	1,335
Restricted units issued as a result of restricted stock issued by Parent Company, net of amortization	4,105	4,366	8,924	8,574
Partnership Interest [Member]
Beginning Balance	6,139,435	6,205,692	6,178,039	6,109,932
Net income	88,172	105,987	186,660	302,803
Other comprehensive income
Other comprehensive income before reclassification	5,342	4,213	2,798	12,427
Amounts reclassified from accumulated other comprehensive income (loss)	(1,649)	481	(3,141)	1,491
Contributions from partners	1,428	10,446	3,205	10,446
Issuance of exchangeable operating partnership units	20,000		20,000
Distributions to partners	(112,788)	(111,052)	(225,656)	(219,567)
Restricted units issued as a result of restricted stock issued by Parent Company, net of amortization	4,105	4,366	8,924	8,574
Common units repurchased and retired as a result of common stock repurchased and retired by Parent Company		(75,419)	(20,006)	(75,419)
Common units issued as a result of common stock issued by Parent Company, net of issuance costs	(10)	61,284	(10)	61,284
Common units repurchased as a result of common stock repurchased by Parent Company, net of issuances	(249)	137	(7,027)	(5,836)
Ending Balance	6,143,786	6,206,135	6,143,786	6,206,135
Partnership Interest [Member] \| Total Partners' Capital [Member]
Beginning Balance	6,091,732	6,168,203	6,131,474	6,072,818
Net income	87,332	105,248	185,033	301,339
Other comprehensive income
Other comprehensive income before reclassification	4,918	3,760	2,591	11,334
Amounts reclassified from accumulated other comprehensive income (loss)	(1,487)	412	(2,809)	1,342
Issuance of exchangeable operating partnership units	20,000		20,000
Distributions to partners	(111,847)	(108,347)	(223,676)	(215,792)
Restricted units issued as a result of restricted stock issued by Parent Company, net of amortization	4,105	4,366	8,924	8,574
Common units repurchased and retired as a result of common stock repurchased and retired by Parent Company		(75,419)	(20,006)	(75,419)
Common units issued as a result of common stock issued by Parent Company, net of issuance costs	(10)	61,284	(10)	61,284
Common units repurchased as a result of common stock repurchased by Parent Company, net of issuances	(249)	137	(7,027)	(5,836)
Ending Balance	6,094,494	6,159,644	6,094,494	6,159,644
Partnership Interest [Member] \| Accumulated Other Comprehensive Income (Loss) [Member]
Beginning Balance	3,927	(1,764)	7,560	(10,227)
Other comprehensive income
Other comprehensive income before reclassification	4,886	3,743	2,570	11,280
Amounts reclassified from accumulated other comprehensive income (loss)	(1,477)	409	(2,794)	1,335
Ending Balance	7,336	2,388	7,336	2,388
Partnership Interest [Member] \| Noncontrolling Interests In Limited Partners Interest In Consolidated Partnerships [Member]
Beginning Balance	47,703	37,489	46,565	37,114
Net income	840	739	1,627	1,464
Other comprehensive income
Other comprehensive income before reclassification	424	453	207	1,093
Amounts reclassified from accumulated other comprehensive income (loss)	(162)	69	(332)	149
Contributions from partners	1,428	10,446	3,205	10,446
Distributions to partners	(941)	(2,705)	(1,980)	(3,775)
Ending Balance	49,292	46,491	49,292	46,491
Partnership Interest [Member] \| General Partner Preferred and Common Units [Member]
Beginning Balance	6,053,394	6,134,091	6,089,425	6,047,598
Net income	86,782	104,796	184,063	300,024
Other comprehensive income
Distributions to partners	(111,145)	(107,885)	(222,492)	(214,855)
Restricted units issued as a result of restricted stock issued by Parent Company, net of amortization	4,105	4,366	8,924	8,574
Common units repurchased and retired as a result of common stock repurchased and retired by Parent Company		(75,419)	(20,006)	(75,419)
Common units issued as a result of common stock issued by Parent Company, net of issuance costs	(10)	61,284	(10)	61,284
Common units repurchased as a result of common stock repurchased by Parent Company, net of issuances	(249)	137	(7,027)	(5,836)
Common units exchanged for common stock of Parent Company		1,275		1,275
Ending Balance	6,032,877	6,122,645	6,032,877	6,122,645
Partnership Interest [Member] \| Limited Partner [Member]
Beginning Balance	34,411	35,876	34,489	35,447
Net income	550	452	970	1,315
Other comprehensive income
Other comprehensive income before reclassification	32	17	21	54
Amounts reclassified from accumulated other comprehensive income (loss)	(10)	3	(15)	7
Issuance of exchangeable operating partnership units	20,000		20,000
Distributions to partners	(702)	(462)	(1,184)	(937)
Common units exchanged for common stock of Parent Company		(1,275)		(1,275)
Ending Balance	$ 54,281	$ 34,611	$ 54,281	$ 34,611

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

3 Months Ended

6 Months Ended

Jun. 30, 2023

Jun. 30, 2022

Jun. 30, 2023

Jun. 30, 2022

Earnings Per Share Basic [Line Items]

Income per common share - basic

$ 0.51

$ 0.61

$ 1.08

$ 1.75

Income per common share - diluted

$ 0.51

$ 0.61

$ 1.07

$ 1.74

Weighted Average Limited Partnership Units Outstanding, Basic

901,480

741,433

822,346

755,393

Continuing Operations [Member] | Parent Company [Member]

Earnings Per Share Basic [Line Items]

Income attributable to common shareholders/unit holders - basic

$ 86,782

$ 104,796

$ 184,063

$ 300,024

Income attributable to common shareholders/unit holders - diluted

$ 86,782

$ 104,796

$ 184,063

$ 300,024

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

170,990,000

172,064,000

171,100,000

171,692,000

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

^[1]

171,275,000

172,424,000

171,369,000

172,036,000

Income per common share - basic

$ 0.51

$ 0.61

$ 1.08

$ 1.75

Income per common share - diluted

$ 0.51

$ 0.61

$ 1.07

$ 1.74

Continuing Operations [Member] | Partnership Interest [Member]

Earnings Per Share Basic [Line Items]

Income attributable to common shareholders/unit holders - basic

$ 87,332

$ 105,248

$ 185,033

$ 301,339

Income attributable to common shareholders/unit holders - diluted

$ 87,332

$ 105,248

$ 185,033

$ 301,339

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

171,891,000

172,805,000

171,922,000

172,448,000

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

^[2]

172,176,000

173,165,000

172,192,000

172,791,000

Income per common share - basic

$ 0.51

$ 0.61

$ 1.08

$ 1.75

Income per common share - diluted

$ 0.51

$ 0.61

$ 1.07

$ 1.74

[1]	Includes the dilutive impact of unvested restricted stock.
[2]	Includes the dilutive impact of unvested restricted stock.

Other Assets (Tables)

6 Months Ended

Jun. 30, 2023

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)	June 30, 2023		December 31, 2022
Goodwill	$	167,062		167,062
Investments		49,616		54,581
Prepaid and other		49,287		28,615
Derivative assets		5,915		6,575
Furniture, fixtures, and equipment, net ("FF&E")		4,953		5,808
Deferred financing costs, net		4,010		5,156
Total other assets	$	280,843		267,797

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities:
Net income	$ 186,660	$ 302,803
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	165,868	157,192
Amortization of deferred loan costs and debt premiums	2,983	2,821
(Accretion) and amortization of above and below market lease intangibles, net	(13,842)	(10,528)
Stock-based compensation, net of capitalization	8,854	8,501
Equity in income of investments in real estate partnerships	(23,785)	(36,646)
Gain on sale of real estate, net of tax	(331)	(106,239)
Distribution of earnings from investments in real estate partnerships	31,869	29,207
Deferred compensation expense (income)	2,940	(7,007)
Realized and unrealized (gain) loss on investments	(3,376)	8,033
Changes in assets and liabilities:
Tenant and other receivables	(14,549)	(8,252)
Deferred leasing costs	(3,591)	(4,263)
Other assets	(17,951)	(8,353)
Accounts payable and other liabilities	6,091	(172)
Tenants' security, escrow deposits and prepaid rent	6,837	660
Net cash provided by operating activities	334,677	327,757
Cash flows from investing activities:
Acquisition of operating real estate, net of cash acquired of $3,061 in 2022		(139,775)
Real estate development and capital improvements	(100,114)	(99,470)
Proceeds from sale of real estate and FF&E	3,745	136,421
Issuance of notes receivable	(4,000)
Investments in real estate partnerships	(3,109)	(11,549)
Return of capital from investments in real estate partnerships	3,644	48,473
Dividends on investment securities	420	214
Acquisition of investment securities	(2,748)	(8,313)
Proceeds from sale of investment securities	10,751	8,737
Net cash used in investing activities	(91,411)	(65,262)
Cash flows from financing activities:
Net proceeds from common stock issuance	(10)	61,284
Repurchase of common shares in conjunction with equity award plans	(7,621)	(6,388)
Common shares repurchased through share repurchase program	(20,006)	(71,898)
Proceeds from sale of treasury stock	28	64
Contributions from limited partners in consolidated partnerships, net	1,225	1,234
Distributions to exchangeable operating partnership unit holders	(964)	(950)
Dividends paid to common stockholders	(222,275)	(213,868)
Proceeds from unsecured credit facilities	235,000	75,000
Repayment of unsecured credit facilities	(235,000)	(75,000)
Proceeds from notes payable	15,500
Repayment of notes payable	(29,616)
Scheduled principal payments	(5,054)	(5,728)
Payment of loan costs	(141)	(82)
Net cash used in financing activities	(268,934)	(236,332)
Net (decrease) increase in cash and cash equivalents and restricted cash	(25,668)	26,163
Cash and cash equivalents and restricted cash at beginning of the period	68,776	95,027
Cash and cash equivalents and restricted cash at end of the period	43,108	121,190
Supplemental disclosure of cash flow information:
Cash paid for interest (net of capitalized interest of $2,534 and $1,815 in 2023 and 2022, respectively)	71,091	70,876
Cash paid for income taxes, net of refunds	573	370
Supplemental disclosure of non-cash transactions:
Common stock and exchangeable operating partnership dividends declared but not paid	111,847	108,215
Acquisition of real estate previously held within investments in real estate partnerships		17,179
Mortgage loans assumed by Company with the acquisition of real estate		22,779
Common stock issued for partnership units exchanged		1,275
Accrued common stock repurchase in Accounts payable and other liabilities		3,521
Issuance of exchangeable operating partnership units	20,000
Change in accrued capital expenditures	9,011	5,050
Common stock issued under dividend reinvestment plan	299	252
Stock-based compensation capitalized	366	373
Contributions from limited partners in consolidated partnerships		5,436
Common stock issued for dividend reinvestment in trust	617	555
Contribution of stock awards into trust	1,844	2,022
Distribution of stock held in trust	2,245	566
Change in fair value of securities	98	1,236
Partnership Interest [Member]
Cash flows from operating activities:
Net income	186,660	302,803
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	165,868	157,192
Amortization of deferred loan costs and debt premiums	2,983	2,821
(Accretion) and amortization of above and below market lease intangibles, net	(13,842)	(10,528)
Stock-based compensation, net of capitalization	8,854	8,501
Equity in income of investments in real estate partnerships	(23,785)	(36,646)
Gain on sale of real estate, net of tax	(331)	(106,239)
Distribution of earnings from investments in real estate partnerships	31,869	29,207
Deferred compensation expense (income)	2,940	(7,007)
Realized and unrealized (gain) loss on investments	(3,376)	8,033
Changes in assets and liabilities:
Tenant and other receivables	(14,549)	(8,252)
Deferred leasing costs	(3,591)	(4,263)
Other assets	(17,951)	(8,353)
Accounts payable and other liabilities	6,091	(172)
Tenants' security, escrow deposits and prepaid rent	6,837	660
Net cash provided by operating activities	334,677	327,757
Cash flows from investing activities:
Acquisition of operating real estate, net of cash acquired of $3,061 in 2022		(139,775)
Real estate development and capital improvements	(100,114)	(99,470)
Proceeds from sale of real estate and FF&E	3,745	136,421
Issuance of notes receivable	(4,000)
Investments in real estate partnerships	(3,109)	(11,549)
Return of capital from investments in real estate partnerships	3,644	48,473
Dividends on investment securities	420	214
Acquisition of investment securities	(2,748)	(8,313)
Proceeds from sale of investment securities	10,751	8,737
Net cash used in investing activities	(91,411)	(65,262)
Cash flows from financing activities:
Net proceeds from common stock issuance	(10)	61,284
Repurchase of common shares in conjunction with equity award plans	(7,621)	(6,388)
Common shares repurchased through share repurchase program	(20,006)	(71,898)
Proceeds from sale of treasury stock	28	64
Contributions from limited partners in consolidated partnerships, net	1,225	1,234
Dividends paid to common stockholders	(223,239)	(214,818)
Proceeds from unsecured credit facilities	235,000	75,000
Repayment of unsecured credit facilities	(235,000)	(75,000)
Proceeds from notes payable	15,500
Repayment of notes payable	(29,616)
Scheduled principal payments	(5,054)	(5,728)
Payment of loan costs	(141)	(82)
Net cash used in financing activities	(268,934)	(236,332)
Net (decrease) increase in cash and cash equivalents and restricted cash	(25,668)	26,163
Cash and cash equivalents and restricted cash at beginning of the period	68,776	95,027
Cash and cash equivalents and restricted cash at end of the period	43,108	121,190
Supplemental disclosure of cash flow information:
Cash paid for interest (net of capitalized interest of $2,534 and $1,815 in 2023 and 2022, respectively)	71,091	70,876
Cash paid for income taxes, net of refunds	573	370
Supplemental disclosure of non-cash transactions:
Common stock and exchangeable operating partnership dividends declared but not paid	111,847	108,215
Acquisition of real estate previously held within investments in real estate partnerships		17,179
Mortgage loans assumed by Company with the acquisition of real estate		22,779
Common stock issued by Parent Company for partnership units exchanged		1,275
Accrued common stock repurchase in Accounts payable and other liabilities		3,521
Issuance of exchangeable operating partnership units	20,000
Change in accrued capital expenditures	9,011	5,050
Common stock issued under dividend reinvestment plan	299	252
Stock-based compensation capitalized	366	373
Contributions from limited partners in consolidated partnerships		5,436
Common stock issued for dividend reinvestment in trust	617	555
Contribution of stock awards into trust	1,844	2,022
Distribution of stock held in trust	2,245	566
Change in fair value of securities	$ 98	$ 1,236

Consolidated Statements of Equity (Unaudited) - 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 Shareholder's Equity [Member]	Noncontrolling Interest Exchangeable Operating Partnership Units [Member]	Noncontrolling Interests In Limited Partners Interest In Consolidated Partnerships [Member]	Total Noncontrolling Interest [Member]
Beginning Balance at Dec. 31, 2021	$ 6,109,932	$ 1,712	$ (22,758)	$ 7,883,458	$ (10,227)	$ (1,814,814)	$ 6,037,371	$ 35,447	$ 37,114	$ 72,561
Net income	302,803					300,024	300,024	1,315	1,464	2,779
Other comprehensive income
Other comprehensive income before reclassification	12,427				11,280		11,280	54	1,093	1,147
Amounts reclassified from accumulated other comprehensive income (loss)	1,491				1,335		1,335	7	149	156
Deferred compensation plan, net			(1,124)	1,124
Restricted stock issued, net of amortization	8,574	2		8,572			8,574
Common stock repurchased for taxes withheld for stock based compensation, net	(6,088)			(6,088)			(6,088)
Common stock repurchased and retired	(75,419)	(13)		(75,406)			(75,419)
Common stock issued under dividend reinvestment plan	252			252			252
Common stock issued for partnership units exchanged				1,275			1,275	(1,275)		(1,275)
Common stock issued, net of issuance costs	61,284	10		61,274			61,284
Contributions from partners	10,446								10,446	10,446
Distributions to partners	(3,775)								(3,775)	(3,775)
Cash dividends declared - common stock/unit	(215,792)					(214,855)	(214,855)	(937)		(937)
Ending Balance at Jun. 30, 2022	6,206,135	1,711	(23,882)	7,874,461	2,388	(1,729,645)	6,125,033	34,611	46,491	81,102
Beginning Balance at Mar. 31, 2022	6,205,692	1,714	(23,831)	7,882,764	(1,764)	(1,726,556)	6,132,327	35,876	37,489	73,365
Net income	105,987					104,796	104,796	452	739	1,191
Other comprehensive income
Other comprehensive income before reclassification	4,213				3,743		3,743	17	453	470
Amounts reclassified from accumulated other comprehensive income (loss)	481				409		409	3	69	72
Deferred compensation plan, net			(51)	51
Restricted stock issued, net of amortization	4,366			4,366			4,366
Common stock repurchased for taxes withheld for stock based compensation, net	3			3			3
Common stock repurchased and retired	(75,419)	(13)		(75,406)			(75,419)
Common stock issued under dividend reinvestment plan	134			134			134
Common stock issued for partnership units exchanged				1,275			1,275	(1,275)		(1,275)
Common stock issued, net of issuance costs	61,284	10		61,274			61,284
Contributions from partners	10,446								10,446	10,446
Distributions to partners	(2,705)								(2,705)	(2,705)
Cash dividends declared - common stock/unit	(108,347)					(107,885)	(107,885)	(462)		(462)
Ending Balance at Jun. 30, 2022	6,206,135	1,711	(23,882)	7,874,461	2,388	(1,729,645)	6,125,033	34,611	46,491	81,102
Beginning Balance at Dec. 31, 2022	6,178,039	1,711	(24,461)	7,877,152	7,560	(1,764,977)	6,096,985	34,489	46,565	81,054
Net income	186,660					184,063	184,063	970	1,627	2,597
Other comprehensive income
Other comprehensive income before reclassification	2,798				2,570		2,570	21	207	228
Amounts reclassified from accumulated other comprehensive income (loss)	(3,141)				(2,794)		(2,794)	(15)	(332)	(347)
Deferred compensation plan, net			(215)	215
Restricted stock issued, net of amortization	8,924	2		8,922			8,924
Common stock repurchased for taxes withheld for stock based compensation, net	(7,326)			(7,326)			(7,326)
Common stock repurchased and retired	(20,006)	(3)		(20,003)			(20,006)
Common stock issued under dividend reinvestment plan	299			299			299
Common stock issued, net of issuance costs	(10)			(10)			(10)
Contributions from partners	3,205								3,205	3,205
Issuance of exchangeable operating partnership units	20,000							20,000		20,000
Distributions to partners	(1,980)								(1,980)	(1,980)
Cash dividends declared - common stock/unit	(223,676)					(222,492)	(222,492)	(1,184)		(1,184)
Ending Balance at Jun. 30, 2023	6,143,786	1,710	(24,676)	7,859,249	7,336	(1,803,406)	6,040,213	54,281	49,292	103,573
Beginning Balance at Mar. 31, 2023	6,139,435	1,710	(25,699)	7,856,426	3,927	(1,779,043)	6,057,321	34,411	47,703	82,114
Net income	88,172					86,782	86,782	550	840	1,390
Other comprehensive income
Other comprehensive income before reclassification	5,342				4,886		4,886	32	424	456
Amounts reclassified from accumulated other comprehensive income (loss)	(1,649)				(1,477)		(1,477)	(10)	(162)	(172)
Deferred compensation plan, net			1,023	(1,023)
Restricted stock issued, net of amortization	4,105			4,105			4,105
Common stock repurchased for taxes withheld for stock based compensation, net	(406)			(406)			(406)
Common stock issued under dividend reinvestment plan	157			157			157
Common stock issued, net of issuance costs	(10)			(10)			(10)
Contributions from partners	1,428								1,428	1,428
Issuance of exchangeable operating partnership units	20,000							20,000		20,000
Distributions to partners	(941)								(941)	(941)
Cash dividends declared - common stock/unit	(111,847)					(111,145)	(111,145)	(702)		(702)
Ending Balance at Jun. 30, 2023	$ 6,143,786	$ 1,710	$ (24,676)	$ 7,859,249	$ 7,336	$ (1,803,406)	$ 6,040,213	$ 54,281	$ 49,292	$ 103,573

Stock-Based Compensation (Details) - Restricted Stock [Member]	6 Months Ended
	Jun. 30, 2023 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted \| shares	301,099
Weighted-average grant-date fair value (in dollars per share) \| $ / shares	$ 68.29

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-URI https://asc.fasb.org//1943274/2147480483/718-10-35-3

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-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

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-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

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-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 24: http://www.xbrl.org/2003/role/disclosureRef
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Reference 26: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Derivative Financial Instruments

6 Months Ended

Jun. 30, 2023

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 mitigation of interest rate risk. 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 quality credit ratings. 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 attempt to stabilize interest expense where possible 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		Bank Pays Variable Rate of	Regency Pays Fixed Rate of	June 30, 2023			December 31, 2022
12/1/16	11/1/23		30,806	SOFR	1.490%		407			883
9/17/19	3/17/25		24,000	SOFR	1.443%		1,357			1,443
12/20/19	12/19/26		24,365	SOFR	1.684%		1,938			1,939
2/24/23	12/31/26		15,435	SOFR	4.229%		(25	)		152
6/2/17	6/2/27		35,160	SOFR	2.261%		2,213			2,158
						$	5,890			6,575

(1)

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 June 30, 2023, 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 are recorded in Accumulated other comprehensive income ("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 June 30,					Three months ended June 30,						Three months ended June 30,
(in thousands)	2023		2022			2023			2022			2023		2022
Interest rate swaps	$	5,457		4,436	Interest expense	$	(1,649	)		481	Interest expense, net	$	36,956		36,699

	Six months ended June 30,					Six months ended June 30,						Six months ended June 30,
(in thousands)	2023		2022			2023			2022			2023		2022
Interest rate swaps	$	2,721		13,404	Interest expense	$	(3,141	)		1,491	Interest expense, net	$	73,349		73,437

As of June 30, 2023, the Company expects approximately $5.8 million of accumulated comprehensive income 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.

Real Estate Investments - Schedule of Business Acquisitions (Parenthetical) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2023
Business Acquisition [Line Items]
Percentage of purchase price and allocation	100.00%	100.00%
Percentage of purchase price of property	25.00%
RegCal, LLC [Member]
Business Acquisition [Line Items]
Percentage of equity interest acquired	25.00%
Business acquisition gross purchase price	$ 93.2

Earnings per Share and Unit

6 Months Ended

Jun. 30, 2023

Earnings Per Share And Unit [Abstract]

Earnings per Share and Unit


11.	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 June 30,				Six months ended June 30,
(in thousands, except per share data)	2023		2022		2023		2022
Numerator:
Income attributable to common shareholders - basic	$	86,782		104,796	$	184,063		300,024
Income attributable to common shareholders - diluted	$	86,782		104,796	$	184,063		300,024
Denominator:
Weighted average common shares outstanding for basic EPS		170,990		172,064		171,100		171,692
Weighted average common shares outstanding for diluted EPS (1)		171,275		172,424		171,369		172,036
Income per common share – basic	$	0.51		0.61	$	1.08		1.75
Income per common share – diluted	$	0.51		0.61	$	1.07		1.74

(1)

Includes the dilutive impact of unvested restricted stock.

Income attributable to noncontrolling interests of the Operating Partnership has been excluded from the numerator and EOP 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 EOP units outstanding were 901,480 and 741,433 for the three months ended June 30, 2023 and 2022, respectively, and were 822,346 and 755,393 for the six months ended June 30, 2023 and 2022, respectively.

Operating Partnership Earnings per Unit

The following summarizes the calculation of basic and diluted earnings per unit ("EPU"):


	Three months ended June 30,				Six months ended June 30,
(in thousands, except per share data)	2023		2022		2023		2022
Numerator:
Income attributable to common unit holders - basic	$	87,332		105,248	$	185,033		301,339
Income attributable to common unit holders - diluted	$	87,332		105,248	$	185,033		301,339
Denominator:
Weighted average common units outstanding for basic EPU		171,891		172,805		171,922		172,448
Weighted average common units outstanding for diluted EPU (1)		172,176		173,165		172,192		172,791
Income per common unit – basic	$	0.51		0.61	$	1.08		1.75
Income per common unit – diluted	$	0.51		0.61	$	1.07		1.74

(1)

Includes the dilutive impact of unvested restricted stock.

Insider Trading Arrangements	6 Months Ended
Insider Trading Arrangements	Jun. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenues:
Lease income	$ 304,458	$ 292,864	$ 613,259	$ 586,509
Other property income	2,683	2,720	5,821	5,824
Management, transaction, and other fees	7,106	6,499	13,144	13,183
Total revenues	314,247	302,083	632,224	605,516
Operating expenses:
Depreciation and amortization	83,161	79,350	165,868	157,192
Property operating expense	54,394	47,750	105,416	94,211
Real estate taxes	38,509	36,700	76,986	73,569
General and administrative	25,065	17,645	50,345	36,437
Other operating expenses	1,682	617	1,185	2,790
Total operating expenses	202,811	182,062	399,800	364,199
Other expense (income):
Interest expense, net	36,956	36,699	73,349	73,437
Gain on sale of real estate, net of tax	(81)	(4,291)	(331)	(106,239)
Net investment (income) loss	(1,742)	5,468	(3,469)	7,962
Total other expense (income)	35,133	37,876	69,549	(24,840)
Income from operations before equity in income of investments in real estate partnerships	76,303	82,145	162,875	266,157
Equity in income of investments in real estate partnerships	11,869	23,842	23,785	36,646
Net income	88,172	105,987	186,660	302,803
Noncontrolling interests:
Exchangeable operating partnership units	(550)	(452)	(970)	(1,315)
Limited partners' interests in consolidated partnerships	(840)	(739)	(1,627)	(1,464)
Income attributable to noncontrolling interests	(1,390)	(1,191)	(2,597)	(2,779)
Net income attributable to common shareholders	$ 86,782	$ 104,796	$ 184,063	$ 300,024
Income per common share - basic	$ 0.51	$ 0.61	$ 1.08	$ 1.75
Income per common share - diluted	$ 0.51	$ 0.61	$ 1.07	$ 1.74
Partnership Interest [Member]
Revenues:
Lease income	$ 304,458	$ 292,864	$ 613,259	$ 586,509
Other property income	2,683	2,720	5,821	5,824
Management, transaction, and other fees	7,106	6,499	13,144	13,183
Total revenues	314,247	302,083	632,224	605,516
Operating expenses:
Depreciation and amortization	83,161	79,350	165,868	157,192
Property operating expense	54,394	47,750	105,416	94,211
Real estate taxes	38,509	36,700	76,986	73,569
General and administrative	25,065	17,645	50,345	36,437
Other operating expenses	1,682	617	1,185	2,790
Total operating expenses	202,811	182,062	399,800	364,199
Other expense (income):
Interest expense, net	36,956	36,699	73,349	73,437
Gain on sale of real estate, net of tax	(81)	(4,291)	(331)	(106,239)
Net investment (income) loss	(1,742)	5,468	(3,469)	7,962
Total other expense (income)	35,133	37,876	69,549	(24,840)
Income from operations before equity in income of investments in real estate partnerships	76,303	82,145	162,875	266,157
Equity in income of investments in real estate partnerships	11,869	23,842	23,785	36,646
Net income	88,172	105,987	186,660	302,803
Noncontrolling interests:
Limited partners' interests in consolidated partnerships	(840)	(739)	(1,627)	(1,464)
Income attributable to noncontrolling interests	(840)	(739)	(1,627)	(1,464)
Net income attributable to common unit holders	$ 87,332	$ 105,248	$ 185,033	$ 301,339
Income per common share - basic	$ 0.51	$ 0.61	$ 1.08	$ 1.75
Income per common share - diluted	$ 0.51	$ 0.61	$ 1.07	$ 1.74

Property Dispositions (Details) $ in Thousands	3 Months Ended		6 Months Ended
Property Dispositions (Details) $ in Thousands	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($) Property	Jun. 30, 2023 USD ($) Property	Jun. 30, 2022 USD ($) Property
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net proceeds from sale of real estate investments \| $	$ 142	$ 11,497	$ 3,065	$ 136,421
Gain on sale of real estate, net of tax \| $	$ 81	$ 4,291	$ 331	$ 106,239
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%	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 \| Property				1
Land [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties sold \| Property		2	1	3

Commitments and Contingencies

6 Months Ended

Jun. 30, 2023

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies


12.	Commitments and Contingencies

Litigation

The Company is involved in litigation on a number of matters, and is subject to other disputes, in each case that arise in the ordinary course of business. While the outcome of any particular lawsuit or dispute cannot be predicted with certainty, in the opinion of management, the Company's currently pending litigation and disputes are not expected to have a material adverse effect on the Company's consolidated financial position, results of operations, or liquidity. Legal fees are expensed as incurred.

On May 17, 2023, Regency Centers Corporation (“Regency”) entered into an agreement to acquire Urstadt Biddle Properties Inc. (“Urstadt Biddle”). In connection with the proposed acquisition, Regency filed a registration statement (the “Registration Statement”) with the SEC containing a proxy statement/prospectus that will be used in connection with obtaining approval of the proposed acquisition by the Urstadt Biddle stockholders. One complaint has been filed in Connecticut state court in connection with the proposed acquisition by a purported Urstadt Biddle stockholder, captioned Snitkoff v. Bannon et al., FBT-CV23-6125690-S (Superior Court, Fairfield County, Connecticut, July 19, 2023) (the “Complaint”). The Complaint alleges that the Urstadt Biddle board of directors breached its fiduciary duties under Maryland law in connection with the proposed acquisition and that the Registration Statement fails to disclose allegedly material information. The Complaint also alleges that Regency aided and abetted breaches of fiduciary duty by the Urstadt Biddle board of directors, and that all defendants engaged in negligent misrepresentation and concealment under Connecticut law in connection with the Registration Statement. The complaint seeks various remedies, including, among other things, injunctive relief to prevent the consummation of the proposed acquisition, requiring defendants to file a proxy statement/prospectus that does not contain allegedly false and misleading statements, a declaration that defendants have negligently misrepresented and omitted material facts in the proxy statement/prospectus, and awards of damages and attorney’s fees.

In addition to the Complaint, certain purported stockholders of Urstadt Biddle have sent demand letters (the “Demands,” and together with the Complaint, the “Matters”) alleging deficiencies and/or omissions regarding the disclosures made in the proxy statement/prospectus.

Regency believes that the Matters are without merit and that no supplemental disclosure is required to the Registration Statement or proxy statement/prospectus under any applicable rule, statute, regulation or law.

Environmental

The Company is subject to numerous environmental laws and regulations. With respect to impact on the Company, these pertain primarily to chemicals historically used by certain current and former dry cleaning tenants, the existence of asbestos in older shopping centers, older underground petroleum storage tanks and other historic land uses. 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 aggregate 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 subsidiary and to facilitate the construction of development projects. The Company had $8.4 million and $9.4 million in letters of credit outstanding as of June 30, 2023 and December 31, 2022, respectively.

Derivative Financial Instruments (Details) - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

Jun. 30, 2023

Jun. 30, 2022

Jun. 30, 2023

Jun. 30, 2022

Dec. 31, 2022

Derivative [Line Items]

Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax

$ 5,457

$ 4,436

$ 2,721

$ 13,404

Amount reclassified from accumulated other comprehensive loss

$ (1,649)

$ 481

$ (3,141)

$ 1,491

Derivative Instrument, Gain (Loss) Reclassified from AOCI into Income, Effective Portion, Statement of Income or Comprehensive Income [Extensible Enumeration]

Interest Expense

$ 36,956

$ 36,699

$ 73,349

$ 73,437

Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months

5,800

Fair Value Inputs Level 2 [Member] | Fair Value, Measurements, Recurring [Member]

Derivative [Line Items]

Assets (Liabilities)

^[1]

5,890

$ 5,890

$ 6,575

Derivative @ 1.490% [Member]

Derivative [Line Items]

Derivative, Inception Date

Dec. 01, 2016

Derivative, Maturity Date

Nov. 01, 2023

Derivative, Notional Amount

$ 30,806

Derivative, Description of Variable Rate Basis

SOFR

Derivative, Fixed Interest Rate

1.49%

Assets (Liabilities)

^[1]

$ 407

883

Derivative @ 1.443% [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

SOFR

Derivative, Fixed Interest Rate

1.443%

Assets (Liabilities)

^[1]

$ 1,357

1,443

Derivative @ 1.684% [Member]

Derivative [Line Items]

Derivative, Inception Date

Dec. 20, 2019

Derivative, Maturity Date

Dec. 19, 2026

Derivative, Notional Amount

$ 24,365

Derivative, Description of Variable Rate Basis

SOFR

Derivative, Fixed Interest Rate

1.684%

Assets (Liabilities)

^[1]

$ 1,938

1,939

Derivative @ 4.229% [Member]

Derivative [Line Items]

Derivative, Inception Date

Feb. 24, 2023

Derivative, Maturity Date

Dec. 31, 2026

Derivative, Notional Amount

$ 15,435

Derivative, Description of Variable Rate Basis

SOFR

Derivative, Fixed Interest Rate

4.229%

Assets (Liabilities)

^[1]

$ (25)

152

Derivative @ 2.261% [Member]

Derivative [Line Items]

Derivative, Inception Date

Jun. 02, 2017

Derivative, Maturity Date

Jun. 02, 2027

Derivative, Notional Amount

$ 35,160

Derivative, Description of Variable Rate Basis

SOFR

Derivative, Fixed Interest Rate

2.261%

Assets (Liabilities)

^[1]

$ 2,213

$ 2,158

[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

Organization and Significant Accounting Policies - Schedule of New Accounting Pronouncements and Changes in Accounting Principles (Details)	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Change in accounting principle accounting standards update adopted	true
Change in accounting principle, accounting standards update, adoption date	Mar. 01, 2020
New Accounting Pronouncement or Change in Accounting Principle, Description	ASU 2020-04

- Definition

Indicates (true false) whether accounting standards update was adopted.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147479832/842-10-65-4

+ Details

- Definition

Date accounting standards update was adopted, in YYYY-MM-DD format.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 50
-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (a)
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-Publisher FASB
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+ Details

Real Estate Investments - Schedule of Business Acquisitions (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Business Acquisition [Line Items]
Purchase Price	$ 26,835	$ 269,173
Debt Assumed, Net of Discounts		44,853
Consolidated Properties [Member]
Business Acquisition [Line Items]
Purchase Price		211,253
Debt Assumed, Net of Discounts		22,779
Unconsolidated Properties [Member]
Business Acquisition [Line Items]
Purchase Price		57,920
Debt Assumed, Net of Discounts		22,074
Off-Market Favorable Lease [Member]
Business Acquisition [Line Items]
Intangible Assets/Liabilities		26,473
Off-Market Favorable Lease [Member] \| Consolidated Properties [Member]
Business Acquisition [Line Items]
Intangible Assets/Liabilities		22,137
Off-Market Favorable Lease [Member] \| Unconsolidated Properties [Member]
Business Acquisition [Line Items]
Intangible Assets/Liabilities		4,336
Off-Market Lease, Unfavorable [Member]
Business Acquisition [Line Items]
Intangible Assets/Liabilities		9,518
Off-Market Lease, Unfavorable [Member] \| Consolidated Properties [Member]
Business Acquisition [Line Items]
Intangible Assets/Liabilities		8,704
Off-Market Lease, Unfavorable [Member] \| Unconsolidated Properties [Member]
Business Acquisition [Line Items]
Intangible Assets/Liabilities		$ 814
Sienna Phase 1 [Member] \| Consolidated Properties [Member]
Business Acquisition [Line Items]
Date Purchased	May 01, 2023
Property Name	Sienna Phase 1
City/State	Houston, TX
Ownership	100.00%
Purchase Price	$ 2,695
SunVet [Member] \| Consolidated Properties [Member]
Business Acquisition [Line Items]
Date Purchased	May 18, 2023
Property Name	SunVet
City/State	Holbrook, NY
Ownership	99.00%
Purchase Price	$ 24,140
Glenwood Green [Member] \| Consolidated Properties [Member]
Business Acquisition [Line Items]
Date Purchased		Mar. 01, 2022
Property Name		Glenwood Green
City/State		Old Bridge, NJ
Ownership		70.00%
Purchase Price		$ 11,000
Island Village [Member] \| Consolidated Properties [Member]
Business Acquisition [Line Items]
Date Purchased		Mar. 31, 2022
Property Name		Island Village
City/State		Bainbridge Island, WA
Ownership		100.00%
Purchase Price		$ 30,650
Island Village [Member] \| Off-Market Favorable Lease [Member] \| Consolidated Properties [Member]
Business Acquisition [Line Items]
Intangible Assets/Liabilities		2,900
Island Village [Member] \| Off-Market Lease, Unfavorable [Member] \| Consolidated Properties [Member]
Business Acquisition [Line Items]
Intangible Assets/Liabilities		$ 6,839
Apple Valley [Member] \| Consolidated Properties [Member]
Business Acquisition [Line Items]
Date Purchased		Apr. 01, 2022
Property Name		Apple Valley
City/State		Apple Valley, MN
Ownership		100.00%
Purchase Price		$ 34,070
Apple Valley [Member] \| Off-Market Favorable Lease [Member] \| Consolidated Properties [Member]
Business Acquisition [Line Items]
Intangible Assets/Liabilities		4,773
Apple Valley [Member] \| Off-Market Lease, Unfavorable [Member] \| Consolidated Properties [Member]
Business Acquisition [Line Items]
Intangible Assets/Liabilities		$ 490
Cedar Commons [Member] \| Consolidated Properties [Member]
Business Acquisition [Line Items]
Date Purchased		Apr. 01, 2022
Property Name		Cedar Commons
City/State		Minneapolis, MN
Ownership		100.00%
Purchase Price		$ 29,330
Cedar Commons [Member] \| Off-Market Favorable Lease [Member] \| Consolidated Properties [Member]
Business Acquisition [Line Items]
Intangible Assets/Liabilities		4,369
Cedar Commons [Member] \| Off-Market Lease, Unfavorable [Member] \| Consolidated Properties [Member]
Business Acquisition [Line Items]
Intangible Assets/Liabilities		$ 58
Coral Hollow [Member] \| Consolidated Properties [Member]
Business Acquisition [Line Items]
Date Purchased		Apr. 01, 2022
Property Name		Corral Hollow
City/State		Tracy, CA
Ownership		100.00%
Purchase Price		$ 40,600
Coral Hollow [Member] \| Off-Market Favorable Lease [Member] \| Consolidated Properties [Member]
Business Acquisition [Line Items]
Intangible Assets/Liabilities		3,410
Coral Hollow [Member] \| Off-Market Lease, Unfavorable [Member] \| Consolidated Properties [Member]
Business Acquisition [Line Items]
Intangible Assets/Liabilities		$ 74
Shops at the Columbia [Member] \| Consolidated Properties [Member]
Business Acquisition [Line Items]
Date Purchased		Apr. 01, 2022
Property Name		Shops at the Columbia
City/State		Washington, DC
Ownership		100.00%
Purchase Price		$ 14,000
Shops at the Columbia [Member] \| Off-Market Favorable Lease [Member] \| Consolidated Properties [Member]
Business Acquisition [Line Items]
Intangible Assets/Liabilities		889
Shops at the Columbia [Member] \| Off-Market Lease, Unfavorable [Member] \| Consolidated Properties [Member]
Business Acquisition [Line Items]
Intangible Assets/Liabilities		$ 181
Baederwood Shoppes [Member] \| Consolidated Properties [Member]
Business Acquisition [Line Items]
Date Purchased		May 06, 2022
Property Name		Baederwood Shoppes
City/State		Jenkintown, PA
Ownership		80.00%
Purchase Price		$ 51,603
Debt Assumed, Net of Discounts		22,779
Baederwood Shoppes [Member] \| Off-Market Favorable Lease [Member] \| Consolidated Properties [Member]
Business Acquisition [Line Items]
Intangible Assets/Liabilities		5,796
Baederwood Shoppes [Member] \| Off-Market Lease, Unfavorable [Member] \| Consolidated Properties [Member]
Business Acquisition [Line Items]
Intangible Assets/Liabilities		$ 1,062
Naperville Plaza [Member] \| Unconsolidated Properties [Member]
Business Acquisition [Line Items]
Date Purchased		Mar. 25, 2022
Property Name		Naperville Plaza
City/State		Naperville, IL
Ownership		20.00%
Purchase Price		$ 52,380
Debt Assumed, Net of Discounts		22,074
Naperville Plaza [Member] \| Off-Market Favorable Lease [Member] \| Unconsolidated Properties [Member]
Business Acquisition [Line Items]
Intangible Assets/Liabilities		4,336
Naperville Plaza [Member] \| Off-Market Lease, Unfavorable [Member] \| Unconsolidated Properties [Member]
Business Acquisition [Line Items]
Intangible Assets/Liabilities		$ 814
Baybrook East 1B [Member] \| Unconsolidated Properties [Member]
Business Acquisition [Line Items]
Date Purchased		Jun. 24, 2022
Property Name		Baybrook East 1B
City/State		Houston, TX
Ownership		50.00%
Purchase Price		$ 5,540

Notes Payable and Unsecured Credit Facilities (Tables)

6 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

Schedule of Debt

The Company's outstanding debt, net of unamortized debt premium (discount) and debt issuance costs, consisted of the following as of the dates set forth below:


(in thousands)	Weighted Average Contractual Rate	Weighted Average Effective Rate	June 30, 2023		December 31, 2022
Notes payable:
Fixed rate mortgage loans	3.9%	3.4%	$	326,471		342,135
Variable rate mortgage loans (1)	3.8%	3.9%		132,039		136,246
Fixed rate unsecured debt	3.8%	4.0%		3,250,564		3,248,373
Total notes payable				3,709,074		3,726,754
Unsecured credit facilities:
$1.25 Billion Line of Credit (the "Line") (2)	6.0%	6.4%		—		—
Total debt outstanding			$	3,709,074		3,726,754

(1)

Five of these six variable rate loans, representing $129.8 million of debt in the aggregate, have interest rate swaps in place to mitigate interest rate fluctuation risk. Based on these swap agreements, the effective fixed rates of the five loans range from 2.5% to 6.0%.

(2)

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

Schedule of Maturities of Long-term Debt

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


(in thousands)	June 30, 2023
Scheduled Principal Payments and Maturities by Year:	Scheduled Principal Payments		Mortgage Loan Maturities		Unsecured Maturities (1)			Total
2023 (2)	$	4,490		30,592		—			35,082
2024		5,044		90,742		250,000			345,786
2025		3,942		43,750		250,000			297,692
2026		4,127		127,096		200,000			331,223
2027		3,788		137,915		525,000			666,703
Beyond 5 Years		2,873		319		2,050,000			2,053,192
Unamortized debt premium/(discount) and issuance costs		—		3,832		(24,436	)		(20,604	)
Total	$	24,264		434,246		3,250,564			3,709,074

(1)

Includes unsecured public and private debt and unsecured credit facilities.

(2)

Reflects scheduled principal payments and maturities for the remainder of the year.

Real Estate Investments (Tables)

6 Months Ended

Jun. 30, 2023

Real Estate [Abstract]

Schedule of Business Acquisitions

The following tables detail the properties acquired for the periods set forth below:


(in thousands)		Six months ended June 30, 2023
Date Purchased	Property Name	City/State	Property Type	Regency Ownership	Purchase Price (1)		Debt Assumed, Net of Discounts (1)		Intangible Assets (1)		Intangible Liabilities (1)
Consolidated
5/1/2023	Sienna Phase 1	Houston, TX	Development	100%		2,695		—		—		—
5/18/2023	SunVet	Holbrook, NY	Development	99%		24,140		—		—		—
Total property acquisitions					$	26,835		—		—		—


(in thousands)		Six months ended June 30, 2022
Date Purchased	Property Name	City/State	Property Type	Regency Ownership	Purchase Price (1)		Debt Assumed, Net of Discounts (1)		Intangible Assets (1)		Intangible Liabilities (1)
Consolidated
3/1/2022	Glenwood Green	Old Bridge, NJ	Development	70%		11,000		—		—		—
3/31/2022	Island Village	Bainbridge Island, WA	Operating	100%		30,650		—		2,900		6,839
4/1/2022	Apple Valley (2)	Apple Valley, MN	Operating	100%		34,070		—		4,773		490
4/1/2022	Cedar Commons (2)	Minneapolis, MN	Operating	100%		29,330		—		4,369		58
4/1/2022	Corral Hollow (2)	Tracy, CA	Operating	100%		40,600		—		3,410		74
4/1/2022	Shops at the Columbia (2)	Washington, DC	Operating	100%		14,000		—		889		181
5/6/2022	Baederwood Shoppes	Jenkintown, PA	Operating	80%		51,603		22,779		5,796		1,062
Total consolidated						211,253		22,779		22,137		8,704
Unconsolidated
3/25/2022	Naperville Plaza	Naperville, IL	Operating	20%		52,380		22,074		4,336		814
6/24/2022	Baybrook East 1B	Houston, TX	Development	50%		5,540		—		—		—
Total unconsolidated					$	57,920		22,074		4,336		814
Total property acquisitions					$	269,173		44,853		26,473		9,518

(1)

Amounts for purchase price and allocation are reflected at 100%.

(2)

Earnings per Share and Unit (Tables)

6 Months Ended

Jun. 30, 2023

Schedule of earnings per share

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


	Three months ended June 30,				Six months ended June 30,
(in thousands, except per share data)	2023		2022		2023		2022
Numerator:
Income attributable to common shareholders - basic	$	86,782		104,796	$	184,063		300,024
Income attributable to common shareholders - diluted	$	86,782		104,796	$	184,063		300,024
Denominator:
Weighted average common shares outstanding for basic EPS		170,990		172,064		171,100		171,692
Weighted average common shares outstanding for diluted EPS (1)		171,275		172,424		171,369		172,036
Income per common share – basic	$	0.51		0.61	$	1.08		1.75
Income per common share – diluted	$	0.51		0.61	$	1.07		1.74

(1)

Includes the dilutive impact of unvested restricted stock.

Partnership Interest [Member]

Schedule of earnings per share

The following summarizes the calculation of basic and diluted earnings per unit ("EPU"):


	Three months ended June 30,				Six months ended June 30,
(in thousands, except per share data)	2023		2022		2023		2022
Numerator:
Income attributable to common unit holders - basic	$	87,332		105,248	$	185,033		301,339
Income attributable to common unit holders - diluted	$	87,332		105,248	$	185,033		301,339
Denominator:
Weighted average common units outstanding for basic EPU		171,891		172,805		171,922		172,448
Weighted average common units outstanding for diluted EPU (1)		172,176		173,165		172,192		172,791
Income per common unit – basic	$	0.51		0.61	$	1.08		1.75
Income per common unit – diluted	$	0.51		0.61	$	1.07		1.74

(1)

Includes the dilutive impact of unvested restricted stock.

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Net real estate investments:
Real estate assets, at cost	$ 11,953,086	$ 11,858,064
Less: accumulated depreciation	2,549,937	2,415,860
Real estate assets, net	9,403,149	9,442,204
Investments in real estate partnerships	342,439	350,377
Net real estate investments	9,745,588	9,792,581
Cash, cash equivalents, and restricted cash, including $3,259 and $2,310 of restricted cash at June 30, 2023 and December 31, 2022, respectively	43,108	68,776
Tenant and other receivables	206,053	188,863
Deferred leasing costs, less accumulated amortization of $120,436 and $117,137 at June 30, 2023 and December 31,2022, respectively	69,788	68,945
Acquired lease intangible assets, less accumulated amortization of $345,131 and $338,053 at June 30, 2023 and December 31, 2022 respectively	178,849	197,745
Right of use assets, net	303,716	275,513
Other assets	280,843	267,797
Total assets	10,827,945	10,860,220
Liabilities:
Notes payable	3,709,074	3,726,754
Accounts payable and other liabilities	317,894	317,259
Acquired lease intangible liabilities, less accumulated amortization of $201,440 and $193,315 at June 30, 2023 and December 31, 2022, respectively	336,636	354,204
Lease liabilities	243,462	213,722
Tenants' security, escrow deposits and prepaid rent	77,093	70,242
Total liabilities	4,684,159	4,682,181
Commitments and contingencies
Shareholders' equity/Partners' capital:
Common stock, $0.01 par value per share, 220,000,000 shares authorized; 170,998,004 and 171,124,593 shares issued at June 30, 2023 and December 31, 2022, respectively	1,710	1,711
Treasury stock at cost; 442,449 and 465,415 shares held at June 30, 2023 and December 31, 2022, respectively	(24,676)	(24,461)
Additional paid-in-capital	7,859,249	7,877,152
Accumulated other comprehensive income	7,336	7,560
Distributions in excess of net income	(1,803,406)	(1,764,977)
Total shareholders' equity	6,040,213	6,096,985
Noncontrolling interests:
Exchangeable operating partnership units, aggregate redemption value of $66,720 and $46,340 at June 30, 2023 and December 31, 2022, respectively	54,281	34,489
Limited partners' interests in consolidated partnerships	49,292	46,565
Total noncontrolling interests	103,573	81,054
Total equity	6,143,786	6,178,039
Total liabilities and equity	10,827,945	10,860,220
Partnership Interest [Member]
Net real estate investments:
Real estate assets, at cost	11,953,086	11,858,064
Less: accumulated depreciation	2,549,937	2,415,860
Real estate assets, net	9,403,149	9,442,204
Investments in real estate partnerships	342,439	350,377
Net real estate investments	9,745,588	9,792,581
Cash, cash equivalents, and restricted cash, including $3,259 and $2,310 of restricted cash at June 30, 2023 and December 31, 2022, respectively	43,108	68,776
Tenant and other receivables	206,053	188,863
Deferred leasing costs, less accumulated amortization of $120,436 and $117,137 at June 30, 2023 and December 31,2022, respectively	69,788	68,945
Acquired lease intangible assets, less accumulated amortization of $345,131 and $338,053 at June 30, 2023 and December 31, 2022 respectively	178,849	197,745
Right of use assets, net	303,716	275,513
Other assets	280,843	267,797
Total assets	10,827,945	10,860,220
Liabilities:
Notes payable	3,709,074	3,726,754
Accounts payable and other liabilities	317,894	317,259
Acquired lease intangible liabilities, less accumulated amortization of $201,440 and $193,315 at June 30, 2023 and December 31, 2022, respectively	336,636	354,204
Lease liabilities	243,462	213,722
Tenants' security, escrow deposits and prepaid rent	77,093	70,242
Total liabilities	4,684,159	4,682,181
Shareholders' equity/Partners' capital:
General partner; 170,998,004 and 171,124,593 units outstanding at June 30, 2023 and December 31, 2022, respectively	6,032,877	6,089,425
Limited partners; 1,080,137 and 741,433 units outstanding at June 30, 2023 and December 31, 2022 respectively	54,281	34,489
Accumulated other comprehensive income	7,336	7,560
Total partners' capital	6,094,494	6,131,474
Noncontrolling interests:
Limited partners' interests in consolidated partnerships	49,292	46,565
Total capital	6,143,786	6,178,039
Total liabilities and equity	$ 10,827,945	$ 10,860,220

Organization and Significant Accounting Policies

6 Months Ended

Jun. 30, 2023

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 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, 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 June 30, 2023, the Parent Company, the Operating Partnership, and their controlled subsidiaries on a consolidated basis owned 310 properties and held partial interests in an additional 96 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.

Pending Acquisition of Urstadt Biddle Properties Inc.

On May 17, 2023, the Parent Company entered into an Agreement and Plan of Merger (the “merger agreement”) by and among the Parent Company, Hercules Merger Sub, LLC, a wholly owned subsidiary of the Parent Company (“Merger Sub”), Urstadt Biddle Properties Inc. (“UBP” or “Urstadt Biddle”), UB Maryland I, Inc., a wholly owned subsidiary of Urstadt Biddle (“UB Sub I”), and UB Maryland II, Inc., a wholly owned subsidiary of UB Sub I (“UB Sub II”), pursuant to which, subject to the satisfaction or waiver of certain conditions, (a) UB Sub II will be merged with and into Urstadt Biddle (the “first merger”), with Urstadt Biddle surviving the first merger as a wholly owned subsidiary of UB Sub I, and (b) following the first merger, UB Sub I will be merged with and into Merger Sub (the “second merger” and together with the first merger, the “mergers”), with Merger Sub being the surviving entity in the second merger. The combined company will retain the Regency name and continue to trade under the ticker symbol “REG” on the National Association of Securities Dealers Automated Quotations (the “NASDAQ”). On the terms and subject to the conditions set forth in the merger agreement, which has been approved by the boards of directors of Regency Centers Corporation and UBP, at the effective time of the first merger (the “first merger effective time”), each share of Urstadt Biddle’s common stock, par value $0.01 per share (“Urstadt Biddle common stock”), class A common stock, par value $0.01 per share (“Urstadt Biddle Class A common stock” and, together with Urstadt Biddle common stock, the “Urstadt Biddle common shares”), 6.25% Series H Cumulative Redeemable Preferred Stock and 5.875% Series K Cumulative Redeemable Preferred Stock will be converted into one equivalent share in UB Sub I, with respect to each class, subject to limited exceptions set forth in the merger agreement. Immediately thereafter, at the effective time of the second merger (the “second merger effective time”), each share of UB Sub I’s common stock, par value $0.01 per share, and class A common stock, par value $0.01 per share, will be converted into 0.347 of a share of common stock, par value $0.01 per share, of common stock of the Parent Company, without interest and subject to certain adjustments, subject to limited exceptions set forth in the merger agreement, and each share of UB Sub I’s 6.25% Series H Cumulative Redeemable Preferred Stock and 5.875% Series K Cumulative Redeemable Preferred Stock will be converted into one share of newly issued Parent Company 6.25% Series A Cumulative Redeemable Preferred Stock (“Parent Company Series A preferred stock”) and 5.875% Series B Cumulative Redeemable Preferred Stock (“Parent Company Series B preferred stock”), respectively. The closing of the mergers is subject to certain conditions, including the requisite approval from the stockholders of UBP (a special meeting of the stockholders of UBP to vote on the mergers is scheduled to be held on August 16, 2023), the receipt of certain tax opinions by Regency Centers Corporation and UBP, and other customary closing conditions. The mergers are expected to close mid-to-late August, 2023. However, the Company cannot predict with certainty when, or if, the mergers will be completed because completion of the mergers is subject to conditions beyond the control of the Company. In connection with the proposed transaction, on July 12, 2023, Regency Centers Corporation filed with the Securities and Exchange Commission a registration statement on Form S-4 that included a proxy statement of UBP and constituted a prospectus of Regency.

Risks and Uncertainties

The success of the Company's tenants in operating their businesses and their corresponding ability to pay rent continue to be influenced by current economic challenges, which impact their cost of doing business, including but not limited to the impact of inflation, the cost and availability of labor, increasing energy prices and interest rates, and access to credit. Additionally, macroeconomic and geopolitical risks create challenges that may exacerbate current market conditions in the United States of America ("U.S.", "USA" or "United States"). The policies implemented by the U.S. government to address these issues, including raising interest rates, could result in adverse impacts on the U.S. economy, including a slowing of growth and potentially a recession, thereby impacting consumer spending, tenants' businesses, and/or decreasing future demand for space in shopping centers. The potential impact of current economic challenges on the Company's financial condition, results of operations, and cash flows is subject to change and continues to depend on the extent and duration of these risks and uncertainties.

Consolidation

The Company consolidates properties that are wholly-owned and properties where it owns less than 100%, but 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 June 30, 2023, the Parent Company owned approximately 99.4% 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 (i.e. registered shares of the Parent). The Parent Company has evaluated the conditions as specified under Accounting Standards Codification ("ASC") Topic 480, Distinguishing Liabilities from Equity, as it relates to EOP units outstanding and concluded that the Parent Company has the right to satisfy the redemption requirements of the units by delivering shares of 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 June 30, 2023, Regency had a partial ownership interest in 108 properties through partnerships, of which 12 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 into its financial statements 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. 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)	June 30, 2023		December 31, 2022
Assets
Net real estate investments	$	132,744		107,725
Cash, cash equivalents and restricted cash		2,794		2,420
Liabilities
Notes payable		3,702		4,188
Equity
Limited partners' interests in consolidated partnerships		24,478		24,364

Revenues and Other Receivables

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


		Three months ended June 30,				Six months ended June 30,
(in thousands)	Timing of satisfaction of performance obligations	2023		2022		2023		2022
Management, transaction, and other fees:
Property management services	Over time	$	3,487		3,310	$	6,945		6,928
Asset management services	Over time		1,648		1,669		3,277		3,425
Leasing services	Point in time		1,096		1,171		1,814		2,167
Other transaction fees	Point in time		875		349		1,108		663
Total management, transaction, and other fees		$	7,106		6,499	$	13,144		13,183

The accounts receivable for management services, which are included within Tenant and other receivables in the accompanying Consolidated Balance Sheets, are $17.1 million and $16.4 million, as of June 30, 2023 and December 31, 2022, respectively.

Recent Accounting Pronouncements

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


Standard	Description	Date of adoption	Effect on the financial statements or other significant matters
Recently adopted:
ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting	In March 2020, the Financial Accounting Standards Board ("FASB") issued ASU 2020-04, Reference Rate Reform (Topic 848). ASU 2020-04 contains practical expedients for reference rate reform related to activities that impact debt, leases, derivatives, and other contracts. The guidance in ASU 2020-04 is optional and may be elected over time as reference rate reform activities occur. The amendments in this update provide exceptions to the guidance in Topic 815 related to changes to the critical terms of a hedging relationship due to reference rate reform, which if criteria are met, provide such changes should not result in the dedesignation and redesignation of the hedging relationship.	March 2020 through March 31, 2023	The Company has elected to apply the hedge accounting expedients and exceptions related to changes to the reference rate from LIBOR to SOFR in the Company's interest rate swaps, which it completed during the three months ended March 31, 2023. Application of these exceptions preserves the hedge designation of interest rate swaps and the related accounting and presentation consistent with past presentation.

Equity and Capital - Additional Information (Details) - USD ($)			1 Months Ended	3 Months Ended		6 Months Ended
	Aug. 02, 2023	Feb. 28, 2023	May 31, 2023	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Feb. 08, 2023
Class of Stock [Line Items]
Common stock dividend declared, per share				$ 0.65	$ 0.625	$ 1.3	$ 1.25
Stock repurchase program, authorized amount								$ 250,000,000
Stock repurchase program expiration date		Feb. 07, 2025
Stock repurchased and retired during period, value					$ (75,419,000)	$ (20,006,000)	$ (75,419,000)
Exchangeable operating partnership units.			338,704
Issuance of exchangeable operating partnership units			$ 20,000,000	$ 20,000,000		20,000,000
Subsequent Event [Member]
Class of Stock [Line Items]
Common stock dividend declared, per share	$ 0.65
Common stock, dividends payable date	Oct. 04, 2023
Common stock, dividends record date	Sep. 14, 2023
Common stock, dividends declared date	Aug. 01, 2023
Common Stock [Member]
Class of Stock [Line Items]
Stock repurchased and retired during period, value					$ (13,000)	$ (3,000)	$ (13,000)
AOCI Attributable to Parent [Member] \| Common Stock [Member]
Class of Stock [Line Items]
Stock repurchased and retired during period, shares						349,519
Stock repurchased and retired during period, value						$ 20,000,000
Shares repurchased weighted average price per share						$ 57.22
Stock repurchased remaining authorized value				$ 230,000,000		$ 230,000,000

Fair Value Measurements

6 Months Ended

Jun. 30, 2023

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:

June 30, 2023

December 31, 2022

(in thousands)

Carrying
Amount

Fair Value

Carrying
Amount

Fair Value

Financial liabilities:

Notes payable

3,709,074

3,367,758

3,726,754

3,333,378

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 June 30, 2023, and December 31, 2022, 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 $1.4 million and unrealized losses of $5.5 million during the three months ended June 30, 2023 and 2022, respectively, and unrealized gains of $3.0 million and unrealized losses of $8.5 million during the six months ended June 30, 2023 and 2022, 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 either recent trade prices for the identical debt instrument or comparable instruments by issuers of similar industry sector, issuer rating, and size, 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 June 30, 2023
				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	$	34,471			34,471		—			—
Available-for-sale debt securities		15,145			—		15,145			—
Interest rate derivatives		5,915			—		5,915			—
Total	$	55,531			34,471		21,060			—
Liabilities:
Interest rate derivatives	$	(25	)		—		(25	)		—


	Fair Value Measurements as of December 31, 2022
			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	$	40,089		40,089		—		—
Available-for-sale debt securities		14,492		—		14,492		—
Interest rate derivatives		6,575		—		6,575		—
Total	$	61,156		40,089		21,067		—

- 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

Notes Payable and Unsecured Credit Facilities - Schedule of Maturities of Long-term Debt (Details) - USD ($)
$ in Thousands

Jun. 30, 2023

Dec. 31, 2022

Debt Instrument [Line Items]

2023

^[1]

$ 35,082

345,786

297,692

331,223

666,703

2,053,192

Unamortized debt premium/(discount) and issuance costs

(20,604)

Total

3,709,074

$ 3,726,754

Unsecured Debt [Member]

Debt Instrument [Line Items]

Total

3,250,564

$ 3,248,373

Scheduled Principal Payments [Member] | Mortgages [Member]

Debt Instrument [Line Items]

2023

^[1]

4,490

5,044

3,942

4,127

3,788

2,873

24,264

Mortgage Loan Maturities [Member] | Mortgages [Member]

Debt Instrument [Line Items]

2023

^[1]

30,592

90,742

43,750

127,096

137,915

319

Unamortized debt premium/(discount) and issuance costs

3,832

Total

434,246

Unsecured Maturities [Member] | Unsecured Debt [Member]

Debt Instrument [Line Items]

2024

^[2]

250,000

2025

^[2]

250,000

2026

^[2]

200,000

2027

^[2]

525,000

Beyond 5 Years

^[2]

2,050,000

Unamortized debt premium/(discount) and issuance costs

^[2]

(24,436)

Total

^[2]

$ 3,250,564

[1]	Reflects scheduled principal payments and maturities for the remainder of the year.
[2]	Includes unsecured public and private debt and unsecured credit facilities.

Property Dispositions (Tables)

6 Months Ended

Jun. 30, 2023

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 June 30,				Six months ended June 30,
(in thousands, except number sold data)	2023		2022		2023		2022
Net proceeds from sale of real estate investments	$	142		11,497	$	3,065		136,421
Gain on sale of real estate, net of tax		81		4,291		331		106,239
Number of operating properties sold		—		—		—		1
Number of land parcels sold		—		2		1		3
Percent interest sold	100%		100%		100%		100%

- 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

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-SubTopic 10
-Topic 360
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482099/360-10-50-3

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 45
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483475/205-20-45-11

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 3A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-3A

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-4A

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4B
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+ Details

Notes Payable and Unsecured Credit Facilities - Schedule of Debt Net of Unamortized Debt Premium (Discount) and Debt Issuance Costs (Details) - USD ($)
$ in Thousands

Jun. 30, 2023

Dec. 31, 2022

Debt Instrument [Line Items]

Long-term Debt

$ 3,709,074

$ 3,726,754

Fixed Rate Mortgage Loans [Member]

Debt Instrument [Line Items]

Debt, Weighted Average Contractual Interest Rate

3.90%

Debt, Weighted Average Effective Interest Rate

3.40%

Long-term Debt

$ 326,471

342,135

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

$ 3,250,564

3,248,373

Notes Payable to Banks [Member]

Debt Instrument [Line Items]

Long-term Debt

$ 3,709,074

3,726,754

Line of Credit [Member]

Debt Instrument [Line Items]

Debt, Weighted Average Contractual Interest Rate

^[1]

6.00%

Debt, Weighted Average Effective Interest Rate

^[1]

6.40%

SOFR [Member] | Variable Rate Mortgage Loans [Member]

Debt Instrument [Line Items]

Debt, Weighted Average Contractual Interest Rate

^[2]

3.80%

Debt, Weighted Average Effective Interest Rate

^[2]

3.90%

Long-term Debt

^[2]

$ 132,039

$ 136,246

[1]	Weighted average effective rate for the Line is calculated based on a fully drawn Line balance using the period end variable rate.
[2]	Five of these six variable rate loans, representing $129.8 million of debt in the aggregate, have interest rate swaps in place to mitigate interest rate fluctuation risk. Based on these swap agreements, the effective fixed rates of the five loans range from 2.5% to 6.0%.

Property Dispositions

6 Months Ended

Jun. 30, 2023

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 June 30,				Six months ended June 30,
(in thousands, except number sold data)	2023		2022		2023		2022
Net proceeds from sale of real estate investments	$	142		11,497	$	3,065		136,421
Gain on sale of real estate, net of tax		81		4,291		331		106,239
Number of operating properties sold		—		—		—		1
Number of land parcels sold		—		2		1		3
Percent interest sold	100%		100%		100%		100%

Notes Payable and Unsecured Credit Facilities - Schedule of Debt Net of Unamortized Debt Premium (Discount) and Debt Issuance Costs (Parentheticals) (Details) - USD ($)
$ in Thousands

Jun. 30, 2023

Dec. 31, 2022

Debt Instrument [Line Items]

Long-term Debt

$ 3,709,074

$ 3,726,754

Line of credit maximum amount

1,250,000

Variable Rate Mortgage Loans [Member] | SOFR [Member]

Debt Instrument [Line Items]

Long-term Debt

^[1]

132,039

$ 136,246

Variable Rate Mortgage Loans [Member] | SOFR [Member] | Interest Rate Swaps [Member]

Debt Instrument [Line Items]

Long-term Debt

$ 129,800

Variable Rate Mortgage Loans [Member] | Minimum [Member] | SOFR [Member]

Debt Instrument [Line Items]

Debt instrument, effective fixed interest rate

2.50%

Variable Rate Mortgage Loans [Member] | Maximum [Member] | SOFR [Member]

Debt Instrument [Line Items]

Debt instrument, effective fixed interest rate

6.00%

[1]	Five of these six variable rate loans, representing $129.8 million of debt in the aggregate, have interest rate swaps in place to mitigate interest rate fluctuation risk. Based on these swap agreements, the effective fixed rates of the five loans range from 2.5% to 6.0%.

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Organization and Significant Accounting Policies - Schedule of Variable Interest Entities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Variable Interest Entity [Line Items]
Variable interest entity, consolidated, carrying amount, assets	$ 10,827,945	$ 10,860,220
Variable interest entity, consolidated, carrying amount, liabilities	4,684,159	4,682,181
Noncontrolling interest in variable interest entity	24,478	24,364
Variable Interest Entity, Primary Beneficiary [Member] \| Notes Payable [Member]
Variable Interest Entity [Line Items]
Variable interest entity, consolidated, carrying amount, liabilities	3,702	4,188
Variable Interest Entity, Primary Beneficiary [Member] \| Net Real Estate Investments [Member]
Variable Interest Entity [Line Items]
Variable interest entity, consolidated, carrying amount, assets	132,744	107,725
Variable Interest Entity, Primary Beneficiary [Member] \| Cash, Cash Equivalents, and Restricted Cash [Member]
Variable Interest Entity [Line Items]
Variable interest entity, consolidated, carrying amount, assets	$ 2,794	$ 2,420

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

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Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.

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+ References + Details

Consolidated Statements of Cash Flows (Unaudited) (Parenthetical) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Capitalized interest	$ 2,534	$ 1,815
Cash Acquired from Acquisition		3,061
Partnership Interest [Member]
Capitalized interest	$ 2,534	1,815
Cash Acquired from Acquisition		$ 3,061

Equity and Capital

6 Months Ended

Jun. 30, 2023

Equity And Capital [Abstract]

Equity and Capital


9.	Equity and Capital

Common Stock of the Parent Company

Dividends Declared

On August 1, 2023, our Board of Directors declared a common stock dividend of $0.65 per share, payable on October 4, 2023, to shareholders of record as of September 14, 2023.

Share Repurchase Program

The Company has a common share repurchase program under which it may purchase, from time to time, up to a maximum of $250 million of its outstanding common stock through open market purchases, and/or in privately negotiated transactions (referred to as the "Repurchase Program"). The timing and price of share repurchases, if any will be dependent upon market conditions and other factors. The shares repurchased, if not retired, would be treated as treasury shares. The authorization for this repurchase program will expire on February 7, 2025, unless modified or earlier terminated by the Board.

During the six months ended June 30, 2023, the Company executed multiple trades to repurchase 349,519 common shares under the Repurchase Program for a total of $20.0 million at a weighted average price of $57.22 per share. All repurchased shares were retired on the respective settlement dates. At June 30, 2023, $230.0 million remained available under the Repurchase 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 shares issued or repurchased, as described above.

In May 2023, the Operating Partnership issued 338,704 exchangeable operating partnership units, valued at $20.0 million, as partial purchase price consideration for a development property.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481004/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480237/815-40-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 13
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-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Paragraph 13
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (b)
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

+ Details

Organization and Significant Accounting Policies - Organization and Principles of Consolidation (Details) $ / shares in Units, $ in Thousands		6 Months Ended
	May 17, 2023	Jun. 30, 2023 USD ($) RetailShoppingCenter $ / shares	Dec. 31, 2022 USD ($) $ / shares
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Unsecured public and private notes \| $		$ 200,000
Tenant and other receivables \| $		$ 206,053	$ 188,863
Conversion of Stock, Description		The combined company will retain the Regency name and continue to trade under the ticker symbol “REG” on the National Association of Securities Dealers Automated Quotations (the “NASDAQ”). On the terms and subject to the conditions set forth in the merger agreement, which has been approved by the boards of directors of Regency Centers Corporation and UBP, at the effective time of the first merger (the “first merger effective time”), each share of Urstadt Biddle’s common stock, par value $0.01 per share (“Urstadt Biddle common stock”), class A common stock, par value $0.01 per share (“Urstadt Biddle Class A common stock” and, together with Urstadt Biddle common stock, the “Urstadt Biddle common shares”), 6.25% Series H Cumulative Redeemable Preferred Stock and 5.875% Series K Cumulative Redeemable Preferred Stock will be converted into one equivalent share in UB Sub I, with respect to each class, subject to limited exceptions set forth in the merger agreement. Immediately thereafter, at the effective time of the second merger (the “second merger effective time”), each share of UB Sub I’s common stock, par value $0.01 per share, and class A common stock, par value $0.01 per share, will be converted into 0.347 of a share of common stock, par value $0.01 per share, of common stock of the Parent Company, without interest and subject to certain adjustments, subject to limited exceptions set forth in the merger agreement, and each share of UB Sub I’s 6.25% Series H Cumulative Redeemable Preferred Stock and 5.875% Series K Cumulative Redeemable Preferred Stock will be converted into one share of newly issued Parent Company 6.25% Series A Cumulative Redeemable Preferred Stock (“Parent Company Series A preferred stock”) and 5.875% Series B Cumulative Redeemable Preferred Stock (“Parent Company Series B preferred stock”), respectively.
Common stock, par value per share		$ 0.01	$ 0.01
Merger Agreement [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Merger agreement date	May 17, 2023
Merger One [Member] \| Urstadt Biddle Common Stock [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Common stock, par value per share		0.01
Merger One [Member] \| Urstadt Biddle Class A common Stock [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Common stock, par value per share		$ 0.01
Merger One [Member] \| 6.25% Series H Cumulative Redeemable Preferred Stock [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Debt instrument interest rate stated percentage		6.25%
Merger One [Member] \| 5.875% Series K Cumulative Redeemable Preferred Stock [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Debt instrument interest rate stated percentage		5.875%
Merger One [Member] \| Common Stock [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Stock conversion ratio		1
Merger Two [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Common stock, par value per share		$ 0.01
Merger Two [Member] \| Urstadt Biddle Class A common Stock [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Common stock, par value per share		0.01
Merger Two [Member] \| UB Sub I common Stock [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Common stock, par value per share		$ 0.01
Merger Two [Member] \| 6.25% Series H Cumulative Redeemable Preferred Stock [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Debt instrument interest rate stated percentage		6.25%
Merger Two [Member] \| 5.875% Series K Cumulative Redeemable Preferred Stock [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Debt instrument interest rate stated percentage		5.875%
Merger Two [Member] \| 6.25% Series A Cumulative Redeemable Preferred Stock [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Debt instrument interest rate stated percentage		6.25%
Merger Two [Member] \| 5.875% Series B Cumulative Redeemable Preferred Stock [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Debt instrument interest rate stated percentage		5.875%
Merger Two [Member] \| Cumulative Redeemable Preferred Stock [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Stock conversion ratio		1
Merger Two [Member] \| Common Stock [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Stock conversion ratio		0.347
Management, transaction, and other fee [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Tenant and other receivables \| $		$ 17,100	$ 16,400
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		99.40%
Wholly Owned Properties [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Number of real estate properties \| RetailShoppingCenter		310
Partially Owned Properties [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Number of real estate properties \| RetailShoppingCenter		108
Consolidated Properties [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Number of real estate properties \| RetailShoppingCenter		12
Unconsolidated Properties [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Number of real estate properties \| RetailShoppingCenter		96

Leases

6 Months Ended

Jun. 30, 2023

Leases [Abstract]

Leases


7.	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 ("Recoverable Costs"). 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 the tenants' contractual obligations to reimburse the Company for their portion of 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 June 30,					Six months ended June 30,
	2023			2022		2023		2022
Operating lease income
Fixed and in-substance fixed lease income	$	220,191			211,838	$	439,831		419,340
Variable lease income		74,337			67,890		155,118		139,916
Other lease related income, net:
Above/below market rent and tenant rent inducement amortization, net		8,751			5,613		14,616		11,302
Uncollectible straight-line rent		1,522			2,623		2,100		4,905
Uncollectible amounts billable in lease income		(343	)		4,900		1,594		11,046
Total lease income	$	304,458			292,864	$	613,259		586,509

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 in which collectibility is considered probable. At lease commencement, the Company generally expects that collectibility of substantially all payments due under the lease is probable due to the Company's credit checks on tenants and other credit worthiness 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. Should collectibility of Lease income become probable again, through evaluation of qualitative and quantitative measures on a tenant by tenant basis, accrual basis accounting resumes and all commencement-to-date straight-line rent is recognized in that period. In addition to the lease-specific collectibility assessment performed under ASC Topic 842, the Company may also recognize 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.

The following table represents the components of Tenant and other receivables, net of amounts considered uncollectible, in the accompanying Consolidated Balance Sheets:


(in thousands)	June 30, 2023		December 31, 2022
Tenant receivables	$	28,239		31,486
Straight-line rent receivables		133,690		128,214
Other receivables (1)		44,124		29,163
Total tenant and other receivables	$	206,053		188,863

(1)

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

Organization and Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2023

Accounting Policies [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)	June 30, 2023		December 31, 2022
Assets
Net real estate investments	$	132,744		107,725
Cash, cash equivalents and restricted cash		2,794		2,420
Liabilities
Notes payable		3,702		4,188
Equity
Limited partners' interests in consolidated partnerships		24,478		24,364

Revenues and Other Receivables


		Three months ended June 30,				Six months ended June 30,
(in thousands)	Timing of satisfaction of performance obligations	2023		2022		2023		2022
Management, transaction, and other fees:
Property management services	Over time	$	3,487		3,310	$	6,945		6,928
Asset management services	Over time		1,648		1,669		3,277		3,425
Leasing services	Point in time		1,096		1,171		1,814		2,167
Other transaction fees	Point in time		875		349		1,108		663
Total management, transaction, and other fees		$	7,106		6,499	$	13,144		13,183

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

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


Standard	Description	Date of adoption	Effect on the financial statements or other significant matters
Recently adopted:
ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting	In March 2020, the Financial Accounting Standards Board ("FASB") issued ASU 2020-04, Reference Rate Reform (Topic 848). ASU 2020-04 contains practical expedients for reference rate reform related to activities that impact debt, leases, derivatives, and other contracts. The guidance in ASU 2020-04 is optional and may be elected over time as reference rate reform activities occur. The amendments in this update provide exceptions to the guidance in Topic 815 related to changes to the critical terms of a hedging relationship due to reference rate reform, which if criteria are met, provide such changes should not result in the dedesignation and redesignation of the hedging relationship.	March 2020 through March 31, 2023	The Company has elected to apply the hedge accounting expedients and exceptions related to changes to the reference rate from LIBOR to SOFR in the Company's interest rate swaps, which it completed during the three months ended March 31, 2023. Application of these exceptions preserves the hedge designation of interest rate swaps and the related accounting and presentation consistent with past presentation.

- 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

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Net income	$ 88,172	$ 105,987	$ 186,660	$ 302,803
Other comprehensive income:
Effective portion of change in fair value of derivative instruments	5,457	4,436	2,721	13,404
Reclassification adjustment of derivative instruments included in net income	(1,649)	481	(3,141)	1,491
Unrealized (loss) gain on available-for-sale debt securities	(115)	(223)	77	(977)
Other comprehensive income (loss)	3,693	4,694	(343)	13,918
Comprehensive income	91,865	110,681	186,317	316,721
Less: comprehensive income attributable to noncontrolling interests:
Net income attributable to noncontrolling interests	1,390	1,191	2,597	2,779
Other comprehensive income (loss) attributable to noncontrolling interests	284	542	(119)	1,303
Comprehensive income attributable to noncontrolling interests	1,674	1,733	2,478	4,082
Comprehensive income attributable to the Company	90,191	108,948	183,839	312,639
Partnership Interest [Member]
Net income	88,172	105,987	186,660	302,803
Other comprehensive income:
Effective portion of change in fair value of derivative instruments	5,457	4,436	2,721	13,404
Reclassification adjustment of derivative instruments included in net income	(1,649)	481	(3,141)	1,491
Unrealized (loss) gain on available-for-sale debt securities	(115)	(223)	77	(977)
Other comprehensive income (loss)	3,693	4,694	(343)	13,918
Comprehensive income	91,865	110,681	186,317	316,721
Less: comprehensive income attributable to noncontrolling interests:
Net income attributable to noncontrolling interests	840	739	1,627	1,464
Other comprehensive income (loss) attributable to noncontrolling interests	262	522	(125)	1,242
Comprehensive income attributable to noncontrolling interests	1,102	1,261	1,502	2,706
Comprehensive income attributable to the Company	$ 90,763	$ 109,420	$ 184,815	$ 314,015

Organization and Significant Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Pending Acquisition of Urstadt Biddle Properties Inc.

Risks and Uncertainties

Consolidation

Ownership of the Operating Partnership

Real Estate Partnerships

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)	June 30, 2023		December 31, 2022
Assets
Net real estate investments	$	132,744		107,725
Cash, cash equivalents and restricted cash		2,794		2,420
Liabilities
Notes payable		3,702		4,188
Equity
Limited partners' interests in consolidated partnerships		24,478		24,364

Revenues and Other Receivables


		Three months ended June 30,				Six months ended June 30,
(in thousands)	Timing of satisfaction of performance obligations	2023		2022		2023		2022
Management, transaction, and other fees:
Property management services	Over time	$	3,487		3,310	$	6,945		6,928
Asset management services	Over time		1,648		1,669		3,277		3,425
Leasing services	Point in time		1,096		1,171		1,814		2,167
Other transaction fees	Point in time		875		349		1,108		663
Total management, transaction, and other fees		$	7,106		6,499	$	13,144		13,183

Recent Accounting Pronouncements

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


Standard	Description	Date of adoption	Effect on the financial statements or other significant matters
Recently adopted:
ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting	In March 2020, the Financial Accounting Standards Board ("FASB") issued ASU 2020-04, Reference Rate Reform (Topic 848). ASU 2020-04 contains practical expedients for reference rate reform related to activities that impact debt, leases, derivatives, and other contracts. The guidance in ASU 2020-04 is optional and may be elected over time as reference rate reform activities occur. The amendments in this update provide exceptions to the guidance in Topic 815 related to changes to the critical terms of a hedging relationship due to reference rate reform, which if criteria are met, provide such changes should not result in the dedesignation and redesignation of the hedging relationship.	March 2020 through March 31, 2023	The Company has elected to apply the hedge accounting expedients and exceptions related to changes to the reference rate from LIBOR to SOFR in the Company's interest rate swaps, which it completed during the three months ended March 31, 2023. Application of these exceptions preserves the hedge designation of interest rate swaps and the related accounting and presentation consistent with past presentation.

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2023	Aug. 03, 2023
Document Information [Line Items]
Entity Registrant Name	REGENCY CENTERS CORPORATION
Entity Central Index Key	0000910606
Document Type	10-Q
Document Period End Date	Jun. 30, 2023
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
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		171,003,217
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	Non-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 (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Restricted cash and cash equivalent	$ 3,259	$ 2,310
Deferred costs accumulated amortization	120,436	117,137
Accumulated amortization of acquired lease intangible assets	345,131	338,053
Accumulated accretion of acquired lease intangible liabilities	$ 201,440	$ 193,315
Common stock, par value per share	$ 0.01	$ 0.01
Common stock, shares authorized	220,000,000	220,000,000
Common stock, shares issued	170,998,004	171,124,593
Treasury stock, shares held at cost	442,449	465,415
Exchangeable operating partnership units aggregate redemption value	$ 66,720	$ 46,340
Partnership Interest [Member]
Restricted cash and cash equivalent	3,259	2,310
Deferred costs accumulated amortization	120,436	117,137
Accumulated amortization of acquired lease intangible assets	345,131	338,053
Accumulated accretion of acquired lease intangible liabilities	$ 201,440	$ 193,315
General partner units, outstanding	170,998,004	171,124,593
Limited partner units, outstanding	1,080,137	741,433

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2023

Fair Value Disclosures [Abstract]

Summary of Balance Sheet Fair Values

June 30, 2023

December 31, 2022

(in thousands)

Carrying
Amount

Fair Value

Carrying
Amount

Fair Value

Financial liabilities:

Notes payable

3,709,074

3,367,758

3,726,754

3,333,378

Summary of Assets and Liabilities Measured at Fair Value 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 June 30, 2023
				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	$	34,471			34,471		—			—
Available-for-sale debt securities		15,145			—		15,145			—
Interest rate derivatives		5,915			—		5,915			—
Total	$	55,531			34,471		21,060			—
Liabilities:
Interest rate derivatives	$	(25	)		—		(25	)		—


	Fair Value Measurements as of December 31, 2022
			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	$	40,089		40,089		—		—
Available-for-sale debt securities		14,492		—		14,492		—
Interest rate derivatives		6,575		—		6,575		—
Total	$	61,156		40,089		21,067		—

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

3 Months Ended

6 Months Ended

12 Months Ended

Jun. 30, 2023

Jun. 30, 2022

Jun. 30, 2023

Jun. 30, 2022

Dec. 31, 2022

Operating Leased Assets [Line Items]

Fixed and in-substance fixed lease income

$ 220,191

$ 211,838

$ 439,831

$ 419,340

Variable lease income

74,337

67,890

155,118

139,916

Uncollectible straight-line rent

1,522

2,623

2,100

4,905

Uncollectible amounts billable in lease income

(343)

4,900

1,594

11,046

Total lease income

304,458

292,864

613,259

586,509

Accounts and Notes Receivable, Net

206,053

$ 188,863

Straight-line rent receivables

133,690

128,214

Tenant Receivables [Member]

Operating Leased Assets [Line Items]

Accounts and Notes Receivable, Net

28,239

31,486

Other Receivable [Member]

Operating Leased Assets [Line Items]

Accounts and Notes Receivable, Net

^[1]

44,124

$ 29,163

Lessor [Member]

Operating Leased Assets [Line Items]

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

$ 8,751

$ 5,613

$ 14,616

$ 11,302

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

Commitments and Contingencies (Details) - USD ($) $ in Millions	May 17, 2023	Jun. 30, 2023	Dec. 31, 2022
Loss Contingencies [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		$ 50.0
Letters of Credit Outstanding, Amount		$ 8.4	$ 9.4
Merger Agreement [Member]
Loss Contingencies [Line Items]
Merger agreement date	May 17, 2023

Notes Payable and Unsecured Credit Facilities

6 Months Ended

Jun. 30, 2023

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 as of the dates set forth below:


(in thousands)	Weighted Average Contractual Rate	Weighted Average Effective Rate	June 30, 2023		December 31, 2022
Notes payable:
Fixed rate mortgage loans	3.9%	3.4%	$	326,471		342,135
Variable rate mortgage loans (1)	3.8%	3.9%		132,039		136,246
Fixed rate unsecured debt	3.8%	4.0%		3,250,564		3,248,373
Total notes payable				3,709,074		3,726,754
Unsecured credit facilities:
$1.25 Billion Line of Credit (the "Line") (2)	6.0%	6.4%		—		—
Total debt outstanding			$	3,709,074		3,726,754

(1)

(2)

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

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


(in thousands)	June 30, 2023
Scheduled Principal Payments and Maturities by Year:	Scheduled Principal Payments		Mortgage Loan Maturities		Unsecured Maturities (1)			Total
2023 (2)	$	4,490		30,592		—			35,082
2024		5,044		90,742		250,000			345,786
2025		3,942		43,750		250,000			297,692
2026		4,127		127,096		200,000			331,223
2027		3,788		137,915		525,000			666,703
Beyond 5 Years		2,873		319		2,050,000			2,053,192
Unamortized debt premium/(discount) and issuance costs		—		3,832		(24,436	)		(20,604	)
Total	$	24,264		434,246		3,250,564			3,709,074

(1)

Includes unsecured public and private debt and unsecured credit facilities.

(2)

Reflects scheduled principal payments and maturities for the remainder of the year.

The Company was in compliance as of June 30, 2023, with all financial and other covenants under its unsecured public and private placement debt and unsecured credit facilities and expects to remain in compliance thereafter.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details