Type | Public company |
---|---|
NYSE: REG S&P 500 Index component | |
Industry | Real estate investment trust |
Founded | 1963 |
Headquarters | Wells 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[1] |
Products | Shopping malls |
Revenue | $614 million (2016)[1] |
-$166 million (2016)[1] | |
Total assets | $4.488 billion (2016)[1] |
Total equity | $2.591 billion (2016)[1] |
Number of employees | 371 (2016)[1] |
Website | www |
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.
The company owns 427 properties comprising 59 million square feet of space, 80% of which are anchored by grocery stores that rank in the top three of their market.[1]
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. for $332 million.[9][10]
In 2017, the company acquired Equity One, creating a company with a $16 billion market capitalization.[11][12]
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