Regency Centers Corporation
|
"Crafting the New Face of Retail." | |
| Public company | |
| Traded as |
NYSE: REG 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 |
 US$614 million (2016)[1] |
 -US$119 million (2016)[1] | |
|
-US$166 million (2016)[1] | |
| Total assets |
US$4.488 billion (2016)[1] |
| Total equity |
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
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
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
- 1 2 3 4 5 6 7 Regency Centers Corporation 2016 Form 10-K Annual Report
- ↑ Regency Centers
- ↑ Regency Centers: Offices
- ↑ "Equity Issues This Week". New York Times. October 25, 1993.
- ↑ "REGENCY REALTY AGREES TO BUY BRANCH PROPERTIES". Reuters. New York Times. February 11, 1997.
- ↑ "Regency Centers and Joint Venture Partners to Acquire $400 Million Portfolio from Branch Properties" (Press release). Business Wire. August 16, 2004.
- ↑ "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.
- ↑ "COMPANY NEWS; MACQUARIE AND REGENCY TO BUY 101 SHOPPING CENTERS". New York Times. February 16, 2005.
- ↑ "First Washington Realty to sell portfolio for $2.74B". Gazette.net. February 18, 2005.
- ↑ "First Washington Realty, CalPERS buy back portfolio". Sacramento Business Journal. July 22, 2009.
- ↑ Ilaina Jonas (13 August 2013). "Regency sells 7 shopping centers to Blackstone: DDR JV". Reuters.
- ↑ "Regency Centers and Equity One Announce Closing of Merger" (Press release). Business Wire. March 1, 2017.