Regency Centers Corporation

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Regency Centers Corporation
Public company
Traded as NYSEREG
S&P 500 Component
Industry Real Estate Investment Trust
Founded 1963
Headquarters Wells Fargo Center
One Independent Drive
Suite 114
Jacksonville, Florida, U.S.
Key people
Martin E. (Hap) Stein Jr., Chairman & CEO
Lisa Palmer, President and CFO
Mac Chandler, EVP Development
James Thompson, EVP Operations[1]
Products Shopping malls
Revenue Decrease US$614 million (2016)[1]
Increase -US$119 million (2016)[1]
Increase -US$166 million (2016)[1]
Total assets Decrease US$4.488 billion (2016)[1]
Total equity Decrease US$2.591 billion (2016)[1]
Number of employees
371 (2016)[1]

Regency Centers Corporation is a real estate investment trust (REIT) based in Jacksonville, Florida and is one of the largest operators of grocery-anchored shopping centers.

Current operations[edit]

The company owns 429 properties comprising 57.2 million square feet of space, 87% of which are anchored by grocery stores that rank in the top three of their market.[2]

The company has 19 offices throughout the United States.[3]


In 1963, the company was founded as Regency Square Properties by Martin and Joan Stein. Four years later, the company built Jacksonville's first regional mall, Regency Square.

In 1993, the company went public, raising $108 million in an initial public offering.[4]

In 1997, Regency acquired Branch Properties, a Publix developer and leading owner of shopping centers in Atlanta, Georgia.[5]

In 2004, Regency acquired a $400 million property portfolio from Branch Properties.[6]

On December 27, 2004, Regency and California State Teachers' Retirement System (CalSTRS) formed a new co-investment partnership to acquire over $200 million in neighborhood and community shopping centers.[7]

In 2005, Regency, in partnership with Macquarie CountryWide Trust, acquired 101 centers from First Washington Realty, Inc. and California Public Employees' Retirement System for $2.74 billion.[8][9] First Washington Realty Inc. and the California Public Employees’ Retirement System bought back a 60% interest in most of the portfolio in 2009.[10]

In 2007, Regency launched greengenuity® to reduce the environmental impact of new developments, existing centers and corporate operations.

In August 2013, Regency sold a portfolio of 7 grocery-oriented shopping centers to a joint venture between Blackstone Group and DDR Corp. for $332 million.[11]

In 2017, Regency acquired Equity One, creating a company with a $16 billion market capitalization.[12]


Martin E. "Hap" Stein, Jr.[edit]

Regency’s chairman and CEO, Martin E. "Hap" Stein, Jr., is the son of Martin and Joan E. Stein, who founded the REIT’s predecessor, Regency Realty in the 1960s.[13] Stein has served as CEO since the company’s initial public offering in 1993, and as Chairman since 1999. He served as President of Regency's predecessor real estate division beginning in 1981, and as a Vice President from 1976 to 1981. Stein served as 2008 Chairman of the National Association of Real Estate Investment Trusts (NAREIT). He holds, or has held, leadership positions with NAREIT, the Urban Land Institute and the Real Estate Roundtable, in addition to board positions with FRP Holdings, Stein Mart, and his alma mater, Washington and Lee University. Stein earned a bachelor’s degree from Washington and Lee University and a Master of Business Administration from Dartmouth College.[14]

Lisa Palmer[edit]

Lisa Palmer is President and Chief Financial Officer for Regency Centers. Palmer joined Regency in 1996 as Senior Manager of Investment Services and assumed the role of Vice President of Capital Markets in 1999. Palmer served as Senior Vice President of Capital Markets from 2003 to 2012, served as Executive Vice President and Chief Financial Officer from 2013 to 2015, and assumed the role of President and Chief Financial Officer in January 2016. Before Regency, Palmer worked with Accenture, formerly Andersen Consulting Strategic Services, as a consultant in Atlanta and a financial analyst for General Electric. Palmer earned her Master of Business Administration from the Wharton School of the University of Pennsylvania and received her bachelor’s degree in economics from the University of Virginia. Palmer is a board member for EHS Hospitality, a board member for Brooks Health System, a board member for the United Way of Northeast Florida, an advisory board member for the Florida Institute of CFOs (fiCFO), a member of the International Council of Shopping Centers (ICSC), and a member of the Urban Land Institute (ULI).[15]

Mac Chandler[edit]

Mac Chandler is Executive Vice President of Development for Regency Centers. Previously, as Managing Director of the West Region, Chandler oversaw the growth and management of the company’s portfolio and new investments throughout California, Oregon, Washington, and Nevada. From 2004 to 2007, Chandler was Managing Director for Investments in the Northeast. He successfully developed more than 4 million square feet of retail centers in 10 states, as well as multi-family housing, mixed-use and office properties for various other companies prior to joining Pacific Retail Trust, a predecessor of Regency Centers, in 1997. Chandler holds a Bachelor of Science in Urban Planning, a Master of Business Administration and a Master of Real Estate Development (MRED) from the University of Southern California. He is a member of the International Council of Shopping Centers and the Urban Land Institute, where he serves as Chair of the Small-Scale Development Council (Gold).[16]

Jim Thompson[edit]

Jim Thompson is Executive Vice President of Operations for Regency Centers. Previously, Thompson was Managing Director of Eastern Operations for Regency Centers from 1995 to 2015. He was responsible for overseeing the formulation, growth, and management of property development and investment business in the eastern United States, as well as a portfolio of 146 shopping enters which totaled over 17 million square feet, located in 13 states along the East Coast. Thompson was appointed to Vice President, Development Partner in 1984, and became Executive Vice President in 1988. He helped grow Regency’s business from the initial public offering of $150 million in assets in 1993 to more than $5.7 billion in capitalization. In addition to his real estate career, Thompson completed a successful military career as an aviator for the Florida Air National Guard, serving as squadron commander of the F-15 Fighter Squadron based in Jacksonville, Florida. As an avid pilot, Thompson volunteers with Angel Flight Southeast, providing air transportation for emergency organ transplant patients and financially needy medical cases. He also serves on the board for Daniel Kids Foundation, a Florida charitable organization providing support for abused and neglected children.[17]


External links[edit]