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]
Website www.regencycenters.com

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]

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 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]

References[edit]

External links[edit]