Regency Centers

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Regency Centers Corporation
Public company
Traded asNASDAQREG
S&P 500 Index component
IndustryReal estate investment trust
Founded1963; 56 years ago (1963)
HeadquartersWells Fargo Center
Jacksonville, Florida
Key people
Martin E. (Hap) Stein Jr., Chairman & CEO
Lisa Palmer, President and CFO
Mac Chandler, EVP Development
James Thompson, EVP Operations
ProductsShopping malls
RevenueIncrease $0.984 billion (2017)
Increase $0.159 billion (2017)
Total assetsIncrease $11.145 billion (2017)
Total equityIncrease $6.692 billion (2017)
Number of employees
446 (2016)
Websitewww.regencycenters.com
Footnotes / references
[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. As of December 31, 2017, the company owned 426 properties comprising 53.9 million square feet of space, 80% of which are anchored by grocery stores that rank in the top three of their market.[1]

History[edit]

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 became a public company, raising $108 million in an initial public offering.[2]

In 1997, the company acquired Branch Properties, a Publix developer and leading owner of shopping centers in Atlanta, Georgia.[3]

In 2004, the company acquired a $400 million property portfolio from Branch Properties.[4]

On December 27, 2004, the company and California State Teachers' Retirement System (CalSTRS) formed a new co-investment partnership to acquire over $200 million in neighborhood and community shopping centers.[5]

In 2005, the company, in partnership with Macquarie CountryWide Trust, acquired 101 centers from First Washington Realty, Inc. and California Public Employees' Retirement System for $2.74 billion.[6][7] First Washington Realty Inc. and the California Public Employees’ Retirement System bought back a 60% interest in most of the portfolio in 2009.[8]

In August 2013, the company sold a portfolio of 7 grocery-oriented shopping centers to a joint venture between Blackstone Group and DDR Corp. (now SITE Centers) for $332 million.[9]

In 2017, the company acquired Equity One.[10][11]

References[edit]

  1. ^ a b "Regency Centers Corporation 2017 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. ^ "Equity Issues This Week". The New York Times. October 25, 1993.
  3. ^ "REGENCY REALTY AGREES TO BUY BRANCH PROPERTIES". The New York Times. Reuters. February 11, 1997.
  4. ^ "Regency Centers and Joint Venture Partners to Acquire $400 Million Portfolio from Branch Properties" (Press release). Business Wire. August 16, 2004.
  5. ^ "Regency Centers Reports Fourth Quarter Results Ahead of Target; FFO Per Share Grew 8.1% over 2003; Annual Dividend Raised to $2.20 - 10th Consecutive Annual Increase" (Press release). Business Wire. February 2, 2005.
  6. ^ "MACQUARIE AND REGENCY TO BUY 101 SHOPPING CENTERS". The New York Times. Bloomberg News. February 16, 2005.
  7. ^ "First Washington Realty to sell portfolio for $2.74B". The Gazette. February 18, 2005.
  8. ^ "First Washington Realty, CalPERS buy back portfolio". American City Business Journals. July 22, 2009.
  9. ^ Jonas, Ilaina (August 13, 2013). "Regency sells 7 shopping centers to Blackstone: DDR JV". Reuters.
  10. ^ "Regency Centers and Equity One Announce Closing of Merger" (Press release). Business Wire. March 1, 2017.
  11. ^ "Regency Centers closes on Equity One acquisition, will join S&P 500". American City Business Journals. March 2, 2017.

External links[edit]