Regency Centers : 2020 2Q Quarterly Supplemental

August 04, 2020 at 03:31 am IST

Quarterly Supplemental

2nd Quarter 2020

Waterstone Plaza	Diablo Plaza
Miami, FL	San Francisco, CA

Gateway 101	Glen Oak Plaza
San Jose, CA	Chicago, IL

Investor Relations

irinfo@RegencyCenters.com One Independent Drive, Suite 114 Jacksonville, FL 32202

904 598 7000 RegencyCenters.com

Table Of Contents
June 30, 2020
Forward-Looking Statements and Non-GAAP Measures Disclosures ..........................................................	i
Earnings Press Release ........................................................................................................................	v
Summary Information:
Summary Financial information ............................................................................................................	1
Summary Real Estate Information ........................................................................................................	2
Financial Information:
Consolidated Balance Sheets................................................................................................................	3
Consolidated Statements of Operations.................................................................................................	4
Supplemental Details of Operations (Consolidated Only) ........................................................................	5
Supplemental Details of Asset and Liabilities (Real Estate Partnerships Only) ...........................................	6
Supplemental Details of Operations (Real Estate Partnerships Only)........................................................	7
Supplemental Details of Same Property NOI (Pro-Rata) .........................................................................	8
Reconciliations of Non-GAAP Financial Measures and Additional Disclosures ............................................	9
Summary of Consolidated Debt ..........................................................................................................	11
Summary of Consolidated Debt Detail.................................................................................................	12
Summary of Unsecured Debt Covenants and Leverage Ratios...............................................................	13
Summary of Unconsolidated Debt.......................................................................................................	14
Unconsolidated Investments ..............................................................................................................	15
Investment Activity:
Property Transactions........................................................................................................................	16
Summary of In-Process Developments and Redevelopments ................................................................	17
Major Developments and Redevelopments Pipeline..............................................................................	19
Real Estate Information:
Leasing Statistics ..............................................................................................................................	20
Average Base Rent by CBSA ..............................................................................................................	21
Significant Tenant Rents ....................................................................................................................	22
Tenant Lease Expirations ..................................................................................................................	23
Portfolio Summary Report by State.....................................................................................................	24
Components of NAV ..........................................................................................................................	32
Additional Disclosures Related to COVID-19 Impact .............................................................................	33
Glossary of Terms ............................................................................................................................	35

Forward-Looking Statements and Non-GAAP Measures Disclosures

June 30, 2020

Forward-Looking Statements

Certain statements in this document regarding anticipated financial, business, legal or other outcomes including business and market conditions, outlook and other similar statements relating to Regency's future events, developments, or financial or operational performance or results, are "forward-looking statements" made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward-looking statements are identified by the use of words such as "may," "will," "should," "expect," "estimate," "believe," "intend," "forecast," "anticipate," "guidance," and other similar language. However, the absence of these or similar words or expressions does not mean a statement is not forward-looking. While we believe these forward-looking statements are reasonable when made, forward-looking statements are not guarantees of future performance or events and undue reliance should not be placed on these statements. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance these expectations will be attained, and it is possible actual results may differ materially from those indicated by these forward-looking statements due to a variety of risks and uncertainties.

Our operations are subject to a number of risks and uncertainties including, but not limited to, those listed below. When considering an investment in our securities, you should carefully read and consider these risks, together with all other information in our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and our other filings and submissions to the SEC, which provide much more information and detail on the risks described below. If any of the events described in the following risk factors actually occur, our business, financial condition or operating results, as well as the market price of our securities, could be materially adversely affected. Forward-looking statements are only as of the date they are made, and Regency undertakes no duty to update its forward-looking statements except as required by law. These risks and events include, without limitation:

Risk Factors Relating to the COVID-19 Pandemic

Pandemics or other health crises, such as the COVID-19 pandemic, may adversely affect our tenants' financial condition, the profitability of our properties, our access to the capital markets, and could have a material adverse effect on our business, results of operations, cash flows and financial condition.

Risk Factors Related to the Retail Industry

Economic and market conditions may adversely affect the retail industry and consequently reduce our revenues and cash flow, and increase our operating expenses.
Shifts in retail sales and delivery methods between brick and mortar stores, e-commerce, home delivery, and curbside pick-up may adversely impact our revenues and cash flows.
Changing economic and detail market conditions in geographic areas where our properties are concentrated may reduce our revenues and cash flow.
Our success depends on the success and continued presence of "anchor" tenants.
A significant percentage of our revenues are derived from smaller "shop space" tenants and our net income may be adversely impacted if our smaller shop tenants are not successful.
We may be unable to collect balances due from tenants in bankruptcy.

Risk Factors Related to Real Estate Investments and Operations

We are subject to numerous laws and regulations that may adversely affect our operations or expose us to liability.
Our real estate assets may decline in value and be subject to impairment losses which may

reduce our net income.	i

• We face risks associated with development, redevelopment and expansion of properties.

Forward-Looking Statements and Non-GAAP Measures Disclosures

June 30, 2020

We face risks associated with the development of mixed-use commercial properties.
We face risks associated with the acquisition of properties.
We face risks if we expand into new markets.
We may be unable to sell properties when desired because of market conditions.
Certain of the properties in our portfolio are subject to ground leases; if we are unable to renew a ground lease, purchase the fee simple interest, or are found to be in breach of a ground lease, we may be adversely affected.
Climate change may adversely impact our properties directly and may lead to additional compliance obligations and costs as well as additional taxes and fees.
Geographic concentration of our properties makes our business more vulnerable to natural disasters, severe weather conditions and climate change.
An uninsured loss or a loss that exceeds the insurance coverage on our properties may subject us to loss of capital and revenue on those properties
Loss of our key personnel may adversely affect our business and operations.
We face competition from numerous sources, including other REITs and other real estate owners.
Costs of environmental remediation may reduce our cash flow available for distribution to stock and unit holders.
Compliance with the Americans with Disabilities Act and fire, safety and other regulations may require us to make unexpected expenditures.
The unauthorized access, use, theft or destruction of tenant or employee personal, financial or other data or of Regency's proprietary or confidential information stored in our information systems or by third parties on our behalf could impact our reputation and brand and expose us to potential liability and loss of revenues.

Risk Factors Related to Our Partnership and Joint Ventures.

We do not have voting control over all of the properties owned in our co-investment partnerships and joint ventures, so we are unable to ensure that our objectives will be pursued.
The termination of our partnerships may adversely affect our cash flow, operating results, and our ability to make distributions to stock and unit holders.

Risk Factors Related to Funding Strategies and Capital Structure

Our ability to sell properties and fund acquisitions and developments may be adversely impacted by higher market capitalization rates and lower NOI at our properties which may dilute earnings.
We may acquire properties or portfolios of properties through tax-deferred contribution transactions, which may result in stockholder dilution and limit our ability to sell such assets.
We depend on external sources of capital, which may not be available in the future on favorable terms or at all.
Our debt financing may adversely affect our business and financial condition.
Covenants in our debt agreements may restrict our operating activities and adversely affect our financial condition.
Increases in interest rates would cause our borrowing costs to rise and negatively impact our results of operations.
Hedging activity may expose us to risks, including the risks that a counterparty will not perform and that the hedge will not perform and that the hedge will not yield the economic benefits we anticipate, which may adversely affect us.
The interest rates on our Unsecured Credit facilities as well as on our variable rate mortgages and interest rate swaps might change based on changes to the method in which LIBOR or its replacement rate is determined.

Risk Factors Related to our Company and the Market Price for Our Securities

• Changes in economic and market conditions may adversely affect the market price of our	ii
securities.

Forward-Looking Statements and Non-GAAP Measures Disclosures

June 30, 2020

There is no assurance that we will continue to pay dividends at historical rates.
Enhanced focus on corporate responsibility and sustainability, specifically related to environmental, social and governance matters, may impose additional costs and expose us to new risks.

Risk Factors Related to Laws and Regulations

If the Parent Company fails to qualify as a REIT for federal income tax purposes, it would be subject to federal income tax at regular corporate rates.
Recent changes to the U.S. tax laws may have a significant negative impact on the overall economy, our tenants, our investors, and our business.
Dividends paid by REITs generally do not qualify for reduced tax rates.
Certain foreign stockholders may be subject to U.S. federal income tax on gain recognized on a disposition of our common stock if we do not qualify as a "domestically controlled" REIT.
Legislative or other actions affecting REITs may have a negative effect on us.
Complying with REIT requirements may limit our ability to hedge effectively and may cause us to incur tax liabilities.
Restrictions on the ownership of the Parent Company's capital stock to preserve its REIT status may delay or prevent a change in control.
The issuance of the Parent Company's capital stock may delay or prevent a change in control.

Non-GAAP Measures Disclosures

We believe these non-GAAP measures provide useful information to our Board of Directors, management and investors regarding certain trends relating to our financial condition and results of operations. Our management uses these non-GAAP measures to compare our performance to that of prior periods for trend analyses, purposes of determining management incentive compensation and budgeting, forecasting and planning purposes.

We do not consider non-GAAP measures an alternative to financial measures determined in accordance with GAAP. The principal limitation of these non-GAAP financial measures is they may exclude significant expense and income items that are required by GAAP to be recognized in our consolidated financial statements. In addition, they reflect the exercise of management's judgment about which expense and income items are excluded or included in determining these non-GAAP financial measures. In order to compensate for these limitations, reconciliations of the non-GAAP financial measures we use to their most directly comparable GAAP measures are provided. Non-GAAP financial measures should not be relied upon in evaluating the financial condition, results of operations or future prospects of the Company.

The pro-rata information provided is not, and is not intended to be, presented in accordance with GAAP. The pro-rata supplemental details of assets and liabilities and supplemental details of operations reflect our proportionate economic ownership of the assets, liabilities and operating results of the properties in our portfolio.

• The items labeled as "Consolidated" are prepared on a basis consistent with the Company's consolidated financial statements as filed with the SEC on the most recent Form 10-Q or 10-K, as applicable.

• The columns labeled "Share of JVs" represent our ownership interest in our unconsolidated (equity method) investments in real estate partnerships, and was derived on a partnership by partnership basis by applying to each financial statement line item our ownership percentage interest used to arrive at our share of investments in real estate partnerships and equity in income or loss of investments in real estate partnerships during the period when applying the equity method of accounting to each of our unconsolidated partnerships.

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Forward-Looking Statements and Non-GAAP Measures Disclosures

June 30, 2020

A similar calculation was performed for the amounts in columns labeled ''Noncontrolling Interests", which represent the limited partners' interests in consolidated partnerships attributable to each financial statement line item.

We do not control the unconsolidated partnerships, and the presentations of the assets and liabilities and revenues and expenses do not necessarily represent our legal claim to such items. The partners are entitled to profit or loss allocations and distributions of cash flows according to the operating agreements, which generally provide for such allocations according to their invested capital. Our share of invested capital establishes the ownership interest we use to prepare our pro-rata share.

The presentation of pro-rata financial information has limitations as an analytical tool. Some of these limitations include, but are not limited to the following:

The amounts shown on the individual line items were derived by applying our overall economic ownership interest percentage determined when applying the equity method of accounting or allocating noncontrolling interests, and do not necessarily represent our legal claim to the assets and liabilities, or the revenues and expenses; and
Other companies in our industry may calculate their pro-rata interests differently, limiting the comparability of pro-rata information.

Because of these limitations, the supplemental details of assets and liabilities and supplemental details of operations should not be considered independently or as a substitute for our financial statements as reported under GAAP. We compensate for these limitations by relying primarily on our GAAP results and using the pro-rata details as a supplement.

The following non-GAAP measures, as defined in the Glossary of Terms, are commonly used by management and the investing public to understand and evaluate our operating results and performance:

NAREIT Funds From Operations (NAREIT FFO): The Company believes NAREIT FFO provides a performance measure that, when compared year over year, reflects the impact on operations from trends in occupancy rates, rental rates, operating costs, acquisition and development activities, and financing costs. The Company provides a reconciliation of Net Income Attributable to Common Stockholders to NAREIT FFO.
Net Operating Income (NOI): The Company believes NOI provides useful information to investors to measure the operating performance of its portfolio of properties. The Company provides a reconciliation of Net Income Attributable to Common Stockholders to pro-rata NOI.
Core Operating Earnings: The Company believes Core Operating Earnings, which excludes certain non-cash and non-comparable items from the computation of NAREIT FFO that affect the Company's period-over-period performance, is useful to investors because it is more reflective of the core operating performance of its portfolio of properties. The Company provides a reconciliation of NAREIT FFO to Core Operating Earnings.
Same Property NOI: The Company provides disclosure of NOI on a same property basis because it believes the measure provides investors with additional information regarding the operating performances of comparable assets. Same Property NOI excludes all development, non-same property and corporate level revenue and expenses. The Company also provides disclosure of NOI excluding termination fees, which excludes both termination fee income and expenses.

NEWS RELEASE

For immediate release

Kathryn McKie

904 598 7348

KathrynMcKie@RegencyCenters.com

Regency Centers Reports Second Quarter 2020 Results and Provides Business Update

Related to COVID-19

JACKSONVILLE, FL (August 3, 2020) - Regency Centers Corporation ("Regency" or the "Company") today reported financial and operating results for the period ended June 30, 2020, and provided a business update related to COVID-19.

Second Quarter 2020 Highlights

For the three months ended June 30, 2020, Net Income Attributable to Common Stockholders ("Net Income") of $0.11 per diluted share.
For the three months ended June 30, 2020, NAREIT Funds From Operations ("NAREIT FFO") of $0.61 per diluted share.
Same property Net Operating Income ("NOI"), excluding termination fees, declined by 20.1%, as compared to the three months ended June 30, 2019, driven by a higher rate of uncollectible lease income related to the COVID-19 pandemic.
As of June 30, 2020, the same property portfolio was 94.5% leased.
Completed a public offering of $600 million 3.70% unsecured notes due 2030.
At June 30, 2020, net debt-to-operating EBITDAre ratio on a pro-rata basis was 5.6x.
Published annual Corporate Responsibility Report, highlighting the Company's key achievements and continued commitment to Our People, Our Communities, Ethics and Governance, and Environmental Stewardship.
Regency's Board of Directors (the "Board") declared a quarterly cash dividend on the Company's common stock of $0.595 per share.

COVID-19 Business Update Highlights

The Company's 415 properties have remained open and operating during the entirety of the COVID-19 pandemic.
As of the end of July, approximately 95% of Regency's tenants were open based on pro-rata Annual Base Rent ("ABR").
72% of second quarter pro-rata base rent was collected through July 31, 2020 (77% when including executed rent deferral agreements).
75% of July pro-rata base rent was collected through July 31, 2020 (79% when including executed rent deferral agreements).

"As we've continued to navigate through these uncertain times over the last several months, Regency's top priority has remained the safety and well-being of our team members, tenants, and our neighbors in our communities," said Lisa Palmer, President and Chief Executive Officer. "We recognize that there are still challenging times ahead, but we are encouraged by the progress our tenants have made reopening

their businesses around the country, and we continue to have confidence in the long term success of our high-quality portfolio with a focus on necessity and value based retail," continued Palmer.

Second Quarter 2020 Results

Regency reported Net Income for the second quarter of $19.0 million, or $0.11 per diluted share, compared to Net Income of $51.7 million, or $0.31 per diluted share, for the same period in 2019. The Company reported NAREIT FFO for the second quarter of $104.7 million, or $0.61 per diluted share, compared to $160.0 million, or $0.95 per diluted share, for the same period in 2019. The Company reported Core Operating Earnings for the second quarter of $108.9 million, or $0.64 per diluted share, compared to $152.4 million, or $0.91 per diluted share, for the same period in 2019. On a pro-rata basis, second quarter 2020 included a reduction of $41.0 million for uncollectible lease income and a related reduction of $18.6 million for uncollectible straight-line rent related to the COVID-19 pandemic. For additional detail, please refer to page(s) 33 and 34 of the second quarter 2020 supplemental disclosure.

Second quarter same property NOI, excluding termination fees, declined by 20.1% compared to the same period in 2019. Same property NOI in the second quarter of 2020 was negatively impacted by a higher rate of uncollectible lease income driven by expectations of collectibility for certain tenants given the COVID-19 pandemic.

As of June 30, 2020, Regency's wholly-owned portfolio plus its pro-rata share of co-investment partnerships, was 93.9% leased. The same property portfolio was 94.5% leased. Within the same property portfolio, anchor percent leased, which includes spaces greater than or equal to 10,000 square feet, was 96.9%, a decline of 20 basis points sequentially. Same property shop percent leased, which includes spaces less than 10,000 square feet, was 90.3%, a decline of 110 basis points. For the three months ended June 30, 2020, Regency executed 1.3 million square feet of comparable new and renewal leases at blended rent spreads of 4.0%. For the trailing twelve months, the Company executed 6.2 million square feet of comparable new and renewal leases at blended rents spreads of 7.0%.

As previously reported, in April, Regency closed on the sale of its joint venture interest in Kent Place, located in Denver, CO, for $9.8 million.

As of June 30, 2020, the Company had $192.3 million of in-process developments and redevelopments with approximately $70 million of remaining costs to complete. In light of the COVID-19 pandemic, the Company continues to evaluate the impacts to scope, investment, tenancy, timing, and return on investment for all future pipeline projects to determine the most appropriate direction of each project.

Business Update Related to COVID-19

Regency's 415 shopping centers have remained open and operating throughout the pandemic and in compliance with government COVID-19 guidelines and mandates. As of July 31, 2020, approximately 95% of the Company's tenants were open based on pro-rata ABR, although restrictions can change daily.

As of July 31, 2020 the Company had executed rent deferral agreements on over 600 leases. For deferrals executed to date, total deferred rent is $16.4 million, representing a weighted average deferral period of 2.9 months. Approximately 96% of deferred rent is contracted to be collected by the end of 2021.

A presentation providing additional information regarding COVID-19 business updates and impacts is posted on the Company's website at investors.regencycenters.com.

Rent Collections

As of July 31, 2020, the Company collected 72% of second quarter pro-rata base rent and 77% adjusting for rent that is subject to executed deferral agreements. The Company collected 75% of July pro-rata base rent and 79% when adjusting for rent that is subject to executed deferral agreements.

Q2 & July Rent Collections

As of July 31, 2020

			Base Rent Collected
Type*	Tenant Categories	% of Pro-rata ABR	Q2	July
	Grocers, drugstores, mass
Essential - Retail/Services	merchandisers, banks, pet	43%	97%	96%
stores, office supplies,

	medical, etc.
Essential - Restaurants		19%	61%	63%
Quick Service	Fast food, QSRs, limited	12%	65%	69%
service

Full Service	Casual dining, table service,	7%	52%	52%
fine dining


	Apparel, Personal Service,
Other Retail/Services	professional service, fitness,	38%	48%	57%
	other
Total Portfolio		100%	72%	75%
Total Portfolio Collections Including Executed Deferrals	77%	79%

* Essential retailers defined as those that supply or provide consumers and essential businesses with any basic necessary goods and services; definition varies across municipalities.

Liquidity

Regency has taken additional steps to further strengthen its financial position and balance sheet, to enhance its financial liquidity, and to provide financial flexibility amid the evolving effects of the COVID- 19 pandemic. As previously disclosed, on May 11, 2020, the Company's operating partnership, Regency Centers, L.P., priced a public offering of $600 million 3.70% notes due 2030 (the "Notes"). The Notes are due June 15, 2030 and were priced at 99.805%. Interest on the Notes is payable semiannually on June 15 and December 15 of each year, with the first payment due on December 15, 2020. Net proceeds of the offering were used to pay down the entirety of the outstanding balance on the corporate line of credit.

On August 3, 2020, the Company notified U.S. Bank National Association, as Trustee, of its intent to redeem on September 2, 2020, its outstanding $300 million 3.75% Senior Unsecured Notes due 2022. The redemption price will be determined in accordance with the applicable indenture and is expected to be $325.1 million, including accrued and unpaid interest through the proposed redemption date and a make-whole amount as defined in such indenture.

As of June 30, 2020, Regency has a cash balance of approximately of $590 million and no outstanding balance under its $1.25 billion revolving credit facility. Regency has no unsecured maturities until 2022, and benefits from a low debt to EBITDAre ratio of 5.6x as of June 30, 2020.

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Dividend

On July 29, 2020, Regency's Board declared a quarterly cash dividend on the Company's common stock of $0.595 per share. The dividend is payable on August 24, 2020, to shareholders of record as of August 14, 2020.

Guidance

Due to the uncertainty and continuing disruption from COVID-19, the Company is not issuing guidance at this time, but will evaluate resumption of guidance in the future as the impact of COVID-19 on its tenants' and the Company's businesses is better understood.

Conference Call Information

To discuss Regency's second quarter results and provide further business updates related to COVID-19, management will host a conference call on Tuesday, August 4, 2020, at 11:00 a.m. ET. Dial-in and webcast information is listed below.

Second Quarter 2020 Earnings Conference Call

Date:	Tuesday, August 4, 2020
Time:	11:00 a.m. ET
Dial#:	877-407-0789 or 201-689-8562
Webcast:	investors.regencycenters.com

Replay

Webcast Archive: Investor Relationspage under Events & Webcasts

Non-GAAP Disclosure

NAREIT FFO is a commonly used measure of REIT performance, which the National Association of Real Estate Investment Trusts ("NAREIT") defines as net income, computed in accordance with GAAP, excluding gains on sale and impairments of real estate, net of tax, plus depreciation and amortization,

viii

and after adjustments for unconsolidated partnerships and joint ventures. Regency computes NAREIT FFO for all periods presented in accordance with NAREIT's definition. Since NAREIT FFO excludes depreciation and amortization and gains on sales and impairments of real estate, it provides a performance measure that, when compared year over year, reflects the impact on operations from trends in occupancy rates, rental rates, operating costs, acquisition and development activities, and financing costs. This provides a perspective of the Company's financial performance not immediately apparent from net income determined in accordance with GAAP. Thus, NAREIT FFO is a supplemental non-GAAP financial measure of the Company's operating performance, which does not represent cash generated from operating activities in accordance with GAAP; and, therefore, should not be considered a substitute measure of cash flows from operations. The Company provides a reconciliation of Net Income Attributable to Common Stockholders to NAREIT FFO.

Core Operating Earnings is an additional performance measure that excludes from NAREIT FFO: (i) transaction related income or expenses; (ii) gains or losses from the early extinguishment of debt; (iii) certain non-cash components of earnings derived from above and below market rent amortization, straight-line rents, and amortization of mark-to-market of debt adjustments; and (iv) other amounts as they occur. The Company provides a reconciliation of Net Income to NAREIT FFO to Core Operating Earnings.

Reconciliation of Net Income (Loss) Attributable to Common Stockholders to NAREIT FFO and Core Operating Earnings - Actual (in thousands)

For the Periods Ended June 30, 2020 and 2019		Three Months Ended			Year to Date
		2020	2019			2020	2019
Reconciliation of Net Income to NAREIT FFO:
Net Income (Loss) Attributable to Common Stockholders	$	19,046	51,728	$	(6,286)	142,174
Adjustments to reconcile to NAREIT Funds From Operations (1):
Depreciation and amortization (excluding FF&E)		92,756	100,168			189,388	204,665
Goodwill impairment		-	-			132,128	-
Gain on sale of real estate		(7,464)	(2,410)			(45,416)	(39,462)
Provision for impairment of real estate		230	10,441			1,014	12,113
Exchangeable operating partnership units		87	109			(28)	299
NAREIT Funds From Operations	$	104,655	160,036	$	270,800	319,789
Reconciliation of NAREIT FFO to Core Operating Earnings:
NAREIT Funds From Operations	$	104,655	160,036	$	270,800	319,789
Adjustments to reconcile to Core Operating Earnings (1):
Early extinguishment of debt		-	-			-	10,591
Interest on bonds for period from notice to redemption		-	-			-	367
Straight line rent		(3,733)	(4,032)			(7,730)	(8,528)
Uncollectible straight line rent		18,585	3,527			23,258	3,854
Above/below market rent amortization, net		(10,158)	(6,640)			(22,887)	(19,975)
Debt premium/discount amortization		(402)	(459)			(812)	(986)
Core Operating Earnings	$	108,947	152,432	$	262,629	305,112
Weighted Average Shares For Diluted Earnings per Share		169,643	167,962			168,781	167,877
Weighted Average Shares For Diluted FFO and Core Operating Earnings per Share		170,736	168,312			169,889	168,227

Includes Regency's consolidated entities and its pro-rata share of unconsolidated co-investment partnerships, net of pro-rata share attributable to noncontrolling interests.

Same property NOI is a key non-GAAP measure used by management in evaluating the operating performance of Regency's properties. The Company provides a reconciliation of Net Income Attributable to Common Stockholders to pro-rata same property NOI.

Reconciliation of Net Income (Loss) Attributable to Common Stockholders to Pro-Rata Same Property NOI - Actual (in thousands)

For the Periods Ended June 30, 2020 and 2019		Three Months Ended			Year to Date
		2020	2019			2020	2019
Net Income (Loss) Attributable to Common Stockholders	$	19,046	51,728	$	(6,286)	142,174
Less:
Management, transaction, and other fees		(6,126)	(7,442)			(12,942)	(14,415)
Other(1)		1,424	(8,355)			(12,386)	(27,325)
Plus:
Depreciation and amortization		85,058	93,589			174,353	190,783
General and administrative		21,202	18,717			34,907	40,017
Other operating expense		2,480	1,533			3,817	2,667
Other expense		28,798	46,206			166,064	77,377
Equity in income (loss) of investments in real estate excluded from NOI (2)		16,878	11,976			32,361	6,347
Net income attributable to noncontrolling interests		528	962			1,077	2,009
NOI		169,288	208,914			380,965	419,634
Less non-same property NOI (3)		(6,961)	(7,316)			(15,516)	(15,306)
Same Property NOI
$	162,327	201,598		$	365,449	404,328
Same Property NOI without Termination Fees	$	160,340	200,594		$	361,324	402,867
Same Property NOI without Termination Fees or Redevelopments	$	147,628	183,740		$	330,350	367,735

Includes straight-line rental income and expense, net of reserves, above and below market rent amortization, other fees, and noncontrolling interests.
Includes non-NOI expenses incurred at our unconsolidated real estate partnerships, such as, but not limited to, straight-line rental income, above and below market rent amortization, depreciation and amortization, interest expense, and real estate gains and impairments.
Includes revenues and expenses attributable to Non-Same Property, Projects in Development, corporate activities, and noncontrolling interests.

Reported results are preliminary and not final until the filing of the Company's Form 10-Q with the SEC and, therefore, remain subject to adjustment.

The Company has published forward-looking statements and additional financial information in its second quarter 2020 supplemental information package that may help investors estimate earnings for 2020. A copy of the Company's second quarter 2020 supplemental information will be available on the Company's website at https://investors.regencycenters.com/or by written request to: Investor Relations, Regency Centers Corporation, One Independent Drive, Suite 114, Jacksonville, Florida, 32202. The supplemental information package contains more detailed financial and property results including financial statements, an outstanding debt summary, acquisition and development activity, investments in partnerships, information pertaining to securities issued other than common stock, property details, a significant tenant rent report and a lease expiration table in addition to earnings and valuation guidance assumptions. The information provided in the supplemental package is unaudited and there can be no assurance that the information will not vary from the final information in the Company's Form 10-Q for the quarter ended June 30, 2020. Regency may, but assumes no obligation to, update information in the supplemental package from time to time.

About Regency Centers Corporation (NASDAQ: REG)

Regency Centers is the preeminent national owner, operator, and developer of shopping centers located in affluent and densely populated trade areas. Our portfolio includes thriving properties merchandised with highly productive grocers, restaurants, service providers, and best-in-class retailers that connect to their neighborhoods, communities, and customers. Operating as a fully integrated real estate company, Regency Centers is a qualified real estate investment trust (REIT) that is self-administered,self-managed, and an S&P 500 Index member. For more information, please visit RegencyCenters.com.

###

Forward-Looking Statements

Risks Related to the COVID-19 Pandemic

Pandemics or other health crises, such as the current COVID-19 pandemic, may adversely affect our tenants' financial condition, the profitability of our properties, our access to the capital markets and could have a material adverse effect on our business, results of operations, cash flows and financial condition.

Risk Factors Related to the Retail Industry

Economic and market conditions may adversely affect the retail industry and consequently reduce our revenues and cash flow, and increase our operating expenses; Shifts in retail sales and delivery methods between brick and mortar stores, e-commerce, home delivery, and curbside pick-up may adversely impact our revenues and cash flows; Changing economic and detail market conditions in geographic areas where our properties are concentrated may reduce our revenues and cash flow; Our success depends on the success and continued presence of "anchor" tenants; A significant percentage of our

revenues are derived from smaller "shop space" tenants and our net income may be adversely impacted if our smaller shop tenants are not successful; We may be unable to collect balances due from tenants in bankruptcy.

Risk Factors Related to Real Estate Investments and Operations

We are subject to numerous laws and regulations that may adversely affect our operations or expose us to liability; Our real estate assets may decline in value and be subject to impairment losses which may reduce our net income; We face risks associated with development, redevelopment and expansion of properties; We face risks associated with the development of mixed-use commercial properties; We face risks associated with the acquisition of properties; We face risks if we expand into new markets; We may be unable to sell properties when desired because of market conditions; Certain of the properties in our portfolio are subject to ground leases; if we are unable to renew a ground lease, purchase the fee simple interest, or are found to be in breach of a ground lease, we may be adversely affected; Climate change may adversely impact our properties directly and may lead to additional compliance obligations and costs as well as additional taxes and fees; Geographic concentration of our properties makes our business more vulnerable to natural disasters, severe weather conditions and climate change; An uninsured loss or a loss that exceeds the insurance coverage on our properties may subject us to loss of capital and revenue on those properties; Loss of our key personnel may adversely affect our business and operations; We face competition from numerous sources, including other REITs and other real estate owners; Costs of environmental remediation may reduce our cash flow available for distribution to stock and unit holders; Compliance with the Americans with Disabilities Act and fire, safety and other regulations may require us to make unexpected expenditures; The unauthorized access, use, theft or destruction of tenant or employee personal, financial or other data or of Regency's proprietary or confidential information stored in our information systems or by third parties on our behalf could impact our reputation and brand and expose us to potential liability and loss of revenues.

Risk Factors Related to Our Partnership and Joint Ventures

We do not have voting control over all of the properties owned in our co-investment partnerships and joint ventures, so we are unable to ensure that our objectives will be pursued; The termination of our partnerships may adversely affect our cash flow, operating results, and our ability to make distributions to stock and unit holders.

Risk Factors Related to Funding Strategies and Capital Structure

Our ability to sell properties and fund acquisitions and developments may be adversely impacted by higher market capitalization rates and lower NOI at our properties which may dilute earnings; We may acquire properties or portfolios of properties through tax-deferred contribution transactions, which may result in stockholder dilution and limit our ability to sell such assets; We depend on external sources of capital, which may not be available in the future on favorable terms or at all; Our debt financing may adversely affect our business and financial condition; Covenants in our debt agreements may restrict our operating activities and adversely affect our financial condition; Increases in interest rates would cause our borrowing costs to rise and negatively impact our results of operations; Hedging activity may expose us to risks, including the risks that a counterparty will not perform and that the hedge will not perform and that the hedge will not yield the economic benefits we anticipate, which may adversely affect us; The interest rates on our Unsecured Credit facilities as well as on our variable rate mortgages and interest rate swaps might change based on changes to the method in which LIBOR or its replacement rate is determined.

Risk Factors Related to our Company and the Market Price for Our Securities

xii

Changes in economic and market conditions may adversely affect the market price of our securities; There is no assurance that we will continue to pay dividends at historical rates; Enhanced focus on corporate responsibility and sustainability, specifically related to environmental, social and governance matters, may impose additional costs and expose us to new risks.

Risk Factors Related to Laws and Regulations

If the Parent Company fails to qualify as a REIT for federal income tax purposes, it would be subject to federal income tax at regular corporate rates; Recent changes to the U.S. tax laws may have a significant negative impact on the overall economy, our tenants, our investors, and our business; Dividends paid by REITs generally do not qualify for reduced tax rates; Certain foreign stockholders may be subject to U.S. federal income tax on gain recognized on a disposition of our common stock if we do not qualify as a "domestically controlled" REIT; Legislative or other actions affecting REITs may have a negative effect on us; Complying with REIT requirements may limit our ability to hedge effectively and may cause us to incur tax liabilities; Restrictions on the ownership of the Parent Company's capital stock to preserve its REIT status may delay or prevent a change in control; The issuance of the Parent Company's capital stock may delay or prevent a change in control.

xiii

Summary Financial Information

June 30, 2020

(in thousands, except per share data)

	Three Months Ended	Year to Date
Financial Results	2020	2019	2020	2019

Net income (loss) attributable to common stockholders (page 4)	$19,046	$51,728	($6,286)	$142,174
Net income (loss) per diluted share	$0.11	$0.31	($0.04)	$0.85
NAREIT Funds From Operations (NAREIT FFO) (page 9)	$104,655	$160,036	$270,800	$319,789
NAREIT FFO per diluted share	$0.61	$0.95	$1.59	$1.90
Core Operating Earnings (page 9)	$108,947	$152,432	$262,629	$305,112
Core Operating Earnings per diluted share	$0.64	$0.91	$1.55	$1.81
Same Property NOI without termination fees (page 8)	$160,340	$200,594	$361,325	$402,866
% growth	-20.1%		-10.3%
Operating EBITDAre (page 10)	$157,329	$198,593	$357,501	$398,072
Dividends paid per share and unit	$0.595	$0.585	$1.190	$1.170
Payout ratio of Core Operating Earnings per share (diluted)	93.0%	64.3%	76.8%	64.6%
Diluted share and unit count
Weighted average shares (diluted) - Net income	169,971	167,962	168,781	167,877
Weighted average shares (diluted) - NAREIT FFO and Core Operating Earnings	170,736	168,312	169,889	168,227

	As of	As of	As of	As of
Capital Information	6/30/2020	12/31/2019	12/31/2018	12/31/2017

Market price per common share	$45.89	$63.09	$58.47	$69.18
Common shares outstanding	169,665	167,571	167,905	171,365
Exchangeable units held by noncontrolling interests	765	746	350	350
Common shares and equivalents issued and outstanding	170,430	168,317	168,255	171,715
Market equity value of common and convertible shares	$7,821,028	$10,619,161	$9,837,840	$11,879,231
Outstanding debt	$4,833,307	$4,445,591	$4,241,758	$4,115,588
Less: cash	(587,358)	(115,562)	(45,190)	(49,381)
Net debt	$4,245,949	$4,330,029	$4,196,568	$4,066,207
Total market capitalization	$12,066,977	$14,949,190	$14,034,408	$15,945,438
Debt metrics (pro-rata; trailing 12 months "TTM")
Net Debt-to-Operating EBITDAre	5.6x	5.4x	5.3x	5.4x
Fixed charge coverage	4.0x	4.3x	4.2x	4.1x

Summary Real Estate Information

June 30, 2020

(GLA in thousands)

Wholly Owned and 100% of Co-investment Partnerships

6/30/2020 3/31/2020 12/31/2019 9/30/2019 6/30/2019

Number of properties

Number of retail operating properties Number of same properties(1)

Number of properties in redevelopment Number of properties in development(2)

415	416	419	422	421
407	408	412	412	410
398	399	396	400	401
14	16	19	17	15
3	3	3	7	8

Gross Leasable Area (GLA) - All properties	52,181	52,226	52,607	52,988	52,693
GLA including retailer-owned stores - All properties	56,269	56,314	56,695	57,076	56,781
GLA - Retail operating properties	51,238	51,284	52,109	51,952	51,498
GLA - Same properties(1)	50,043	50,089	49,892	50,344	50,426
GLA - Properties in redevelopment(3)	3,434	3,736	4,515	3,279	2,759
GLA - Properties in development(2)	215	215	215	816	975

Wholly Owned and Pro-Rata Share of Co-investment Partnerships
GLA - All properties	42,449	42,496	42,769	43,046	42,761
GLA including retailer-owned stores - All properties	46,537	46,584	46,857	47,134	46,849
GLA - Retail operating properties	41,580	41,626	42,334	42,140	41,776
GLA - Same properties(1)(4)	40,522	40,520	40,521	40,470	40,469
Spaces ≥ 10,000 sf(1)(4)	25,578	25,570	25,584	25,573	25,568
Spaces < 10,000 sf(1)(4)	14,944	14,950	14,937	14,897	14,901
GLA - Properties in redevelopment(3)	3,167	3,384	3,976	2,742	2,176
GLA - Properties in development(2)	145	136	134	668	838

% leased - All properties	93.9%	94.5%	94.8%	94.8%	94.7%
% leased - Retail operating properties	94.5%	95.0%	95.0%	95.1%	95.0%
% leased - Same properties(1)(4)	94.5%	95.0%	95.1%	95.1%	95.0%
Spaces ≥ 10,000 sf(1)(4)	96.9%	97.1%	97.2%	97.1%	96.9%
Spaces < 10,000 sf(1)(4)	90.3%	91.4%	91.5%	91.8%	91.7%
Average % leased - Same properties(4)	94.9%	95.1%	95.2%	95.2%	95.3%
% commenced - Same properties(4)(5)	92.6%	92.9%	92.9%	93.1%	93.1%

Same property NOI growth - YTD (see page 8)	-9.6%	0.2%	2.3%	2.3%	2.5%
Same property NOI growth without termination fees - YTD (see page 8)	-10.3%	-0.7%	2.1%	2.1%	2.1%
Same property NOI growth without termination fees or redevelopments - YTD (see page 8)	-10.2%	-0.9%	2.0%	2.0%	2.1%
Rent spreads - Trailing 12 months(6) (see page 20)	7.0%	7.4%	8.5%	7.9%	8.9%

Non-SameProperty: During either calendar year period being compared, a property acquired, sold, a Property in Development, a Development Completion, or a property under, or being positioned for, significant redevelopment that distorts comparability between periods. Non-retail properties and corporate activities, including the captive insurance program, are part of Non-Same Property.
Includes current ground up developments, including Culver Public Market which is under review.
Represents entire center GLA rather than redevelopment portion only. Included in Same Property pool unless noted otherwise.
Prior periods adjusted for current same property pool.
Excludes leases that are signed but have not yet commenced.
Retail operating properties only. Rent spreads are calculated on a comparable-space, cash basis for new and renewal leases executed.

Consolidated Balance Sheets

June 30, 2020 and December 31, 2019

(in thousands)

		2020			2019
Assets		(unaudited)

Net real estate investments:
Real estate assets at cost	$	11,165,567	$	11,095,294
Less: accumulated depreciation		1,893,250			1,766,162
		9,272,317			9,329,132
Investments in real estate partnerships		474,285			469,522
Net real estate investments		9,746,602			9,798,654
Properties held for sale		27,812			45,565
Cash, cash equivalents, and restricted cash		587,358			115,562
Tenant and other receivables (1)		186,232			169,337
Deferred leasing costs, net		73,340			76,798
Acquired lease intangible assets, net		215,376			242,822
Right of use assets		289,739			292,786
Other assets		259,850			390,729
Total assets	$	11,386,309	$	11,132,253
Liabilities and Equity
Liabilities:
Notes payable	$	4,028,767	$	3,435,161
Unsecured credit facilities		264,531			484,383
Total notes payable		4,293,298			3,919,544
Accounts payable and other liabilities		223,990			213,705
Acquired lease intangible liabilities, net		400,533			427,260
Lease liabilities		221,035			222,918
Tenants' security, escrow deposits, and prepaid rent		50,251			58,865
Total liabilities		5,189,107			4,842,292
Equity:
Stockholders' Equity:
Common stock, $.01 par		1,697			1,676
Additional paid in capital		7,760,498			7,631,731
Accumulated other comprehensive (loss)		(25,135)			(11,997)
Distributions in excess of net income		(1,615,077)			(1,408,062)
Total stockholders' equity		6,121,983			6,213,348
Noncontrolling Interests:
Exchangeable operating partnership units		36,376			36,100
Limited partners' interest		38,843			40,513
Total noncontrolling interests		75,219			76,613
Total equity		6,197,202			6,289,961
Total liabilities and equity	$	11,386,309	$	11,132,253

(1) For additional details, see Supplemental COVID-19 Disclosure on page 33.

These consolidated balance sheets should be read in conjunction with the Company's most recent Form 10-Q and Form 10-K filed with the Securities and Exchange Commission.

Consolidated Statements of Operations

For the Periods Ended June 30, 2020 and 2019

(in thousands)

(unaudited)

		Three Months Ended			Year to Date
		2020	2019			2020	2019
Revenues:
Lease income (1)	$	222,552	266,236	$	497,089	543,539
Other property income		2,435	2,194			4,740	4,176
Management, transaction, and other fees		6,126	7,442			12,942	14,415
Total revenues		231,113	275,872			514,771	562,130
Operating Expenses:
Depreciation and amortization		85,058	93,589			174,353	190,783
Operating and maintenance		40,032	42,759			82,401	83,397
General and administrative		21,202	18,717			34,907	40,017
Real estate taxes		36,793	33,506			72,680	67,661
Other operating expense		2,480	1,533			3,817	2,667
Total operating expenses		185,565	190,104			368,158	384,525
Other Expense (Income):
Interest expense, net		40,375	37,173			77,811	74,925
Goodwill impairment		-	-			132,128	-
Provision for impairment of real estate, net of tax		230	10,441			1,014	12,113
Gain on sale of real estate, net of tax		(7,448)	(442)			(45,453)	(16,932)
Early extinguishment of debt		-	-			-	10,591
Net investment (income) loss		(4,359)	(966)			564	(3,320)
Total other expense		28,798	46,206			166,064	77,377
Income (loss) from operations before equity in income of
investments in real estate partnerships		16,750	39,562			(19,451)	100,228
Equity in income of investments in real estate partnerships		2,824	13,128			14,242	43,955
Net income (loss)		19,574	52,690			(5,209)	144,183
Noncontrolling Interests:
Exchangeable operating partnership units		(87)	(109)			28	(299)
Limited partners' interests in consolidated partnerships		(441)	(853)			(1,105)	(1,710)
Income attributable to noncontrolling interests		(528)	(962)			(1,077)	(2,009)
Net income (loss) attributable to common stockholders	$	19,046	51,728	$	(6,286)	142,174

(1) For additional details, see Supplemental COVID-19 Disclosure on page 33.

These consolidated statements of operations should be read in conjunction with the Company's most recent Form 10-Q and Form 10-K filed with the Securities and Exchange Commission.

Supplemental Details of Operations (Consolidated Only)

For the Periods Ended June 30, 2020 and 2019

(in thousands)

			Three Months Ended			Year to Date
			2020	2019			2020	2019
	Revenues:
*	Base rent	$	193,489	192,844	$	389,613	386,171
*	Recoveries from tenants		62,072	61,767			125,388	122,900
*	Percentage rent		763	1,480			4,251	4,721
*	Termination Fees		1,978	1,124			2,522	1,503
*	Uncollectible lease income		(35,792)	(580)			(39,844)	(1,445)
*	Other lease income		1,926	2,308			4,089	4,327
	Straight line rent on lease income		(12,300)	500			(12,226)	5,115
	Above/below market rent amortization		10,416	6,793			23,296	20,247
	Lease income (1)		222,552	266,236			497,089	543,539
*	Other property income		2,435	2,194			4,740	4,176
	Property management fees		3,354	3,665			7,232	7,428
	Asset management fees		1,756	1,760			3,594	3,538
	Leasing commissions and other fees		1,016	2,017			2,116	3,449
	Management, transaction, and other fees		6,126	7,442			12,942	14,415
	Total revenues
		231,113	275,872			514,771	562,130

	Operating Expenses:
	Depreciation and amortization (including FF&E)	85,058	93,589	174,353	190,783
*	Operating and maintenance	36,070	38,288	74,587	74,824
*	Ground rent	2,947	3,139	5,739	6,231
*	Termination expense	138	500	338	500
	Straight line rent on ground rent	457	445	897	1,091
	Above/below market ground rent amortization	420	387		840	751
	Operating and maintenance	40,032	42,759	82,401	83,397
	Gross general & administrative	15,364	17,259	33,003	36,030
	Stock-based compensation	3,828	3,951	7,592	7,903
	Capitalized direct development compensation costs	(1,902)	(3,499)		(5,314)	(7,261)
	General & administrative, net	17,290	17,711	35,281	36,672
	(Gain) loss on deferred compensation plan (2)	3,912	1,006		(374)	3,345
	General & administrative	21,202	18,717	34,907	40,017
*	Real estate taxes	36,793	33,506	72,680	67,661
	Other expenses	1,314	2,002	1,902	2,965
	Development pursuit costs	1,166	(469)		1,915	(298)
	Other operating expenses	2,480	1,533	3,817	2,667
	Total operating expenses
	185,565	190,104		368,158	384,525

Other Expense (Income):
Gross interest expense	39,636	35,419	76,207	71,720
Derivative amortization	1,546	2,150	3,196	4,264
Debt cost amortization	1,451	1,297	2,804	2,584
Debt premium/discount amortization	(411)	(469)	(831)	(1,000)
Capitalized interest	(1,274)	(980)	(2,449)	(1,996)
Interest income	(573)	(244)		(1,116)	(647)
Interest expense, net	40,375	37,173	77,811	74,925
Provision for impairment of real estate, net of tax	230	10,441	1,014	12,113
Goodwill impairment	-	-	132,128	-
Gain on sale of real estate, net of tax	(7,448)	(442)	(45,453)	(16,932)
Early extinguishment of debt	-	-	-	10,591
Net investment (income) loss (2)	(4,359)	(966)		564	(3,320)
Total other expense (income)	28,798	46,206		166,064	77,377

* Component of Net Operating Income

For additional details, see Supplemental COVID-19 Disclosure on page 33.
The change in value of participant obligations within Regency's non-qualified deferred compensation plan is included in

General and administrative expense. The expense is offset by unrealized gains of assets held in the plan which is included in Net investment income.

These consolidated supplemental details of operations should be read in conjunction with the Company's most recent Form 10-Q and Form 10-K filed with the Securities and Exchange Commission.

Supplemental Details of Assets and Liabilities (Real Estate Partnerships Only)

June 30, 2020 and December 31, 2019

(in thousands)

	Noncontrolling Interests			Share of JVs
		2020	2019			2020	2019
Assets
Real estate assets at cost	$	(88,751)	(93,476)	$	1,395,099	1,366,504
Less: accumulated depreciation		(14,523)	(14,264)			427,989	413,833
Net real estate investments		(74,228)	(79,212)			967,110	952,671
Cash, cash equivalents, and restricted cash		(2,657)	(2,941)			20,942	12,202
Tenant and other receivables (1)		(2,318)	(2,333)			24,228	25,224
Deferred leasing costs, net		(1,061)	(1,157)			14,949	15,436
Acquired lease intangible assets, net		(640)	(747)			10,707	11,230
Right of use assets		(1,665)	(1,699)			5,596	5,705
Other assets		(194)	(147)			19,420	17,545
Total assets	$	(82,763)	(88,236)			1,062,952	1,040,013
Liabilities
Notes payable	$	(38,184)	(42,803)	$	540,009	526,047
Accounts payable and other liabilities		(3,353)	(2,359)			27,633	24,129
Acquired lease intangible liabilities, net		(226)	(290)			11,366	11,606
Lease liabilities		(1,896)	(1,909)			4,418	4,447
Tenants' security, escrow deposits, and prepaid rent		(261)	(362)			5,241	4,262
Total liabilities	$	(43,920)	(47,723)	$	588,667	570,491

(1) For additional details, see Supplemental COVID-19 Disclosure on page 33.

Note

Noncontrolling interests represent limited partners' interests in consolidated partnerships' activities and Share of JVs represents the Company's share of co-investment partnerships' activities, of which each are included on a single line presentation in the Company's consolidated financial statements in accordance with GAAP.

Supplemental Details of Operations (Real Estate Partnerships Only)

For the Periods Ended June 30, 2020 and 2019

(in thousands)

			Noncontrolling Interests				Share of JVs
		Three Months Ended		Year to Date		Three Months Ended			Year to Date
		2020	2019	2020	2019	2020	2019			2020	2019
	Revenues:
*	Base rent	$ (1,709)	(2,071)	$ (3,615)	(4,138)	$ 26,440	25,918	$	53,052	52,022
*	Recoveries from tenants	(481)	(631)	(1,048)	(1,276)	8,097	8,404			16,764	17,001
*	Percentage rent	-	-	(3)	(4)	273	211			748	909
*	Termination Fees	(47)	-	(47)	-	53	407			1,657	513
*	Uncollectible lease income	249	(5)	271	9	(5,408)	(111)			(5,877)	(215)
*	Other lease income	(28)	(30)	(57)	(62)	295	291			731	592
	Straight line rent on lease income	(92)	(82)	(112)	(177)	(2,017)	557			(2,310)	1,072
	Above/below market rent amortization	(9)	(9)		(63)	(18)		180	253			513	511
	Lease income (1)	(2,117)	(2,828)	(4,674)	(5,666)	27,913	35,930			65,278	72,405
*	Other property income	(5)	(1)	(7)	(4)	142	161			282	245
	Asset management fees	-	-		-	-		(266)	(277)			(570)	(559)
	Management, transaction, and other fees	-	-	-	-	(266)	(277)			(570)	(559)
	Total revenues
	(2,122)	(2,829)	(4,681)	(5,670)	27,789	35,814			64,990	72,091
	Operating Expenses:
	Depreciation and amortization (including FF&E)	(583)	(646)	(1,252)	(1,342)	8,777	7,768			17,275	16,257
*	Operating and maintenance	(313)	(410)	(688)	(798)	5,312	5,376			11,077	11,063
*	Ground rent	(34)	(28)	(62)	(55)	93	116			181	203
	Straight line rent on ground rent	(16)	(16)	(32)	(32)	30	30			60	247
	Above/below market ground rent amortization	-	-		-	-		9	10			19	14
	Operating and maintenance	(363)	(454)	(782)	(885)	5,444	5,532			11,337	11,527
	Gross general & administrative	-	-		-	-		79	82			188	190
	General & administrative, net	-	-	-	-	79	82			188	190
*	Real estate taxes	(337)	(406)	(703)	(817)	4,785	4,685			9,496	9,499
	Other expenses	(19)	(14)	(38)	(34)	264	326			540	550
	Development pursuit costs	-	-		-	-		61	-			67	6
	Other operating expenses	(19)	(14)	(38)	(34)	325	326			607	556
	Total operating expenses
	(1,302)	(1,520)	(2,775)	(3,078)	19,410	18,393			38,903	38,029
	Other Expense (Income):
	Gross interest expense	(364)	(438)	(768)	(846)	5,407	6,085			11,404	12,272
	Debt cost amortization	(15)	(18)	(33)	(36)	154	166			384	351
	Debt premium/discount amortization	-	-		-	-		10	10			20	14
	Interest expense, net	(379)	(456)	(801)	(882)	5,571	6,261			11,808	12,637
	(Gain) loss on sale of real estate	-	-	-	-	(16)	(1,968)			37	(22,530)
	Total other expense (income)
	(379)	(456)		(801)	(882)		5,555	4,293			11,845	(9,893)

* Component of Net Operating Income

(1) For additional details, see Supplemental COVID-19 Disclosure on page 33.

Note

Supplemental Details of Same Property NOI (Pro-Rata)

For the Periods Ended June 30, 2020 and 2019

(in thousands)

		Three Months Ended			Year to Date
		2020	2019			2020	2019
Same Property NOI Detail:
Real Estate Revenues:
Base rent	$	209,613	208,876	$	420,703	417,808
Recoveries from tenants		66,606	67,599			135,011	134,508
Percentage rent		1,035	1,622			4,811	5,411
Termination fees		2,012	1,504			4,150	1,961
Uncollectible lease income		(39,205)	(766)			(42,718)	(1,384)
Other lease income		2,169	2,479			4,673	4,675
Other property income		1,567	1,814			3,154	3,358
Total real estate revenues		243,797	283,128			529,784	566,337
Real Estate Operating Expenses:
Operating and maintenance		39,876	41,937			81,867	82,615
Termination expense		25	500			25	500
Real estate taxes		39,036	36,447			77,311	73,501
Ground rent		2,533	2,646			5,132	5,393
Total real estate operating expenses		81,470	81,530			164,335	162,009
Same Property NOI	$	162,327	201,598	$	365,449	404,328
% change		-19.5%				-9.6%
Same Property NOI without Termination Fees	$	160,340	200,594	$	361,324	402,867
% change		-20.1%				-10.3%
Same Property NOI without Termination Fees or Redevelopments	$	147,628	183,740	$	330,350	367,735
% change		-19.7%				-10.2%

Reconciliation of Net Income Attributable to Common Stockholders to Same Property NOI:

Net income (loss) attributable to common stockholders	$	19,046	51,728	$	(6,286)	142,174
Less:
Management, transaction, and other fees		(6,126)	(7,442)			(12,942)	(14,415)
Other (1)		1,424	(8,355)			(12,386)	(27,325)
Plus:
Depreciation and amortization		85,058	93,589			174,353	190,783
General and administrative		21,202	18,717			34,907	40,017
Other operating expense		2,480	1,533			3,817	2,667
Other expense		28,798	46,206			166,064	77,377
Equity in income of investments in real estate excluded from NOI (2)		16,878	11,976			32,361	6,347
Net income attributable to noncontrolling interests		528	962			1,077	2,009
NOI		169,288	208,914			380,965	419,634
Less non-same property NOI (3)		(6,961)	(7,316)			(15,516)	(15,306)
Same Property NOI
$	162,327	201,598		$	365,449	404,328

Includes straight-line rental income and expense, net of reserves, above and below market rent amortization, other fees, and noncontrolling interests.
Includes non-NOI income and expenses incurred at our unconsolidated real estate partnerships, such as, but not limited to, straight-line rental income, above and below market rent amortization, depreciation and amortization, interest expense, and real estate gains and impairments.
Includes revenues and expenses attributable to Non-Same Property, Projects in Development, corporate

activities, and noncontrolling interests.

Reconciliations of Non-GAAP Financial Measures and Additional Disclosures

Wholly Owned and Regency's Pro-rata Share of Co-investment Partnerships

For the Periods Ended June 30, 2020 and 2019

(in thousands, except per share data)

		Three Months Ended			Year to Date
		2020	2019			2020	2019
Reconciliation of Net Income (Loss) to NAREIT FFO:
Net Income (Loss) Attributable to Common Stockholders	$	19,046	51,728	$	(6,286)	142,174
Adjustments to reconcile to NAREIT Funds From Operations (1):
Depreciation and amortization (excluding FF&E)		92,756	100,168			189,388	204,665
Goodwill impairment		-	-			132,128	-
Gain on sale of real estate		(7,464)	(2,410)			(45,416)	(39,462)
Provision for impairment to real estate		230	10,441			1,014	12,113
Exchangeable operating partnership units		87	109			(28)	299
NAREIT Funds From Operations	$	104,655	160,036		$	270,800	319,789

NAREIT FFO per share (diluted)	$	0.61	0.95	$	1.59	1.90
Weighted average shares (diluted)		170,736	168,312			169,889	168,227
Reconciliation of NAREIT FFO to Core Operating Earnings:
NAREIT Funds From Operations	$	104,655	160,036	$	270,800	319,789
Adjustments to reconcile to Core Operating Earnings (1):
Non Comparable Items
Early extinguishment of debt		-	-			-	10,591
Interest on bonds for period from notice to redemption		-	-			-	367
Certain Non Cash Items
Straight line rent		(3,733)	(4,032)			(7,730)	(8,528)
Uncollectible straight line rent		18,585	3,527			23,258	3,854
Above/below market rent amortization, net		(10,158)	(6,640)			(22,887)	(19,975)
Debt premium/discount amortization		(402)	(459)			(812)	(986)
Core Operating Earnings	$	108,947	152,432		$	262,629	305,112

Core Operating Earnings per share (diluted)	$	0.64	0.91	$	1.55	1.81
Weighted average shares (diluted)		170,736	168,312			169,889	168,227
Additional Disclosures:
Other Non Cash Expense(1)
Derivative amortization	$	1,546	2,150	$	3,196	4,264
Debt cost amortization		1,589	1,445			3,154	2,899
Stock-based compensation		3,828	3,951			7,592	7,903
Other Non Cash Expense	$	6,963	7,546		$	13,942	15,066
Maintenance and Leasing Capital Expenditures (2)
Tenant allowance and landlord work	$	7,536	14,749	$	15,158	23,608
Building improvements		3,829	5,392			8,399	7,038
Leasing commissions		915	2,518			3,533	3,812
Capital Expenditures	$	12,280	22,659		$	27,090	34,458

Includes Regency's consolidated entities and its pro-rata share of unconsolidated co-investment partnerships, net of pro-rata share attributable to noncontrolling interests, which can be found of page 7.
Includes Regency's consolidated entities and its pro-rata share of unconsolidated co-investment partnerships.

Reconciliations of Non-GAAP Financial Measures and Additional Disclosures (continued)

For the Periods Ended June 30, 2020 and 2019

(in thousands)

		Three Months Ended			Year to Date
		2020	2019			2020	2019
Reconciliation of Net Income (Loss) to NAREIT EBITDAre :
Net Income (Loss)	$	19,574	52,690	$	(5,209)	144,183
Adjustments to reconcile to NAREIT EBITDAre (1):
Interest expense		46,519	43,678			90,735	88,209
Income tax expense		26	57			123	210
Depreciation and amortization		93,835	101,357			191,628	207,040
Gain on sale of real estate		(7,464)	(2,410)			(45,416)	(39,462)
Provision from impairment to real estate		230	10,441			1,014	12,113
Goodwill impairment		-	-			132,128	-
NAREIT EBITDAre	$	152,720	205,813	$	365,003	412,293
Reconciliation of NAREIT EBITDAre to Operating EBITDAre :
NAREIT EBITDAre	$	152,720	205,813	$	365,003	412,293
Adjustments to reconcile to Operating EBITDAre (1):
Early extinguishment of debt		-	-			-	10,591
Straight line rent, net		14,776	(571)			15,448	(4,819)
Above/below market rent amortization, net		(10,167)	(6,649)			(22,950)	(19,993)
Operating EBITDAre	$	157,329	198,593	$	357,501	398,072

(1) Includes Regency's consolidated entities and its pro-rata share of unconsolidated co-investment partnerships.

Summary of Consolidated Debt

June 30, 2020 and December 31, 2019

(in thousands)

Total Debt Outstanding:		6/30/2020		12/31/2019
Notes Payable:
Fixed rate mortgage loans	$	453,755	$	455,411
Variable-rate mortgage loans		35,030		34,998
Fixed rate unsecured public debt		3,348,820		2,754,322
Fixed rate unsecured private debt		191,162		190,430
Unsecured credit facilities:
Revolving line of credit		-		220,000
Term loan		264,531		264,383
Total	$	4,293,298	$	3,919,544

		Scheduled		Mortgage						Weighted Average
				Unsecured				Contractual
		Principal		Loan					Interest Rate on
Schedule of Maturities by Year:		Payments		Maturities		Maturities (1)		Total		Maturities
2020	$	6,088	$	27,000	$	-	$	33,088	3.80%
2021		11,598		74,101		-		85,699	3.61%
2022		11,797		5,848		565,000	(2)	582,645	2.98%
2023		10,124		59,374		-		69,498	3.35%
2024		5,301		90,744		250,000		346,045	3.70%
2025		4,207		40,000		250,000		294,207	3.79%
2026		4,420		88,000		200,000		292,420	3.83%
2027		4,312		32,915		525,000		562,227	3.63%
2028		3,350		170		300,000		303,520	4.13%
2029		602		146		425,000		425,748	2.95%
>10 years		4,821		72		1,325,000		1,329,893	4.11%
Unamortized debt premium/(discount), net of issuance costs		-		3,795		(35,487)		(31,692)
	$	66,620		422,165		3,804,513		4,293,298	3.16%

Percentage of Total Debt:								6/30/2020	12/31/2019
Fixed								99.2%		93.5%
Variable								0.8%	6.5%
Current Weighted Average Contractual Interest Rates:(3)
Fixed								3.7%	3.8%
Variable								1.2%	2.7%
Combined								3.2%	3.5%
Current Weighted Average Effective Interest Rate:(4)
Combined								3.3%	3.7%
Average Years to Maturity:
Fixed								9.8	10.3
Variable								1.3	2.2

Includes unsecured public and private placement debt, unsecured term loan, and unsecured revolving line of credit.
On August 3, 2020, the operating partnership provided notification of its intent to redeem on September 2, 2020 the entire $300 million outstanding of 3.75% notes due 2022.
Interest rates are calculated as of the quarter end.
Effective interest rates are calculated in accordance with US GAAP, as of the quarter end, and include the impact of debt premium/(discount) amortization, issuance cost amortization, interest rate swaps, and facility fees.

Summary of Consolidated Debt

June 30, 2020 and December 31, 2019

	(in thousands)
		Contractual
Lender	Collateral	Rate
Secured Debt - Fixed Rate Mortgage Loans
New York Life Insurance Company	Scripps Ranch Marketplace	3.80%
Wells Fargo	University Commons	5.50%
Jefferson Pilot	BridgeMill	7.94%
John Hancock Life Insurance Company	Kirkwood Commons	7.68%
Wells Fargo	Hewlett I	4.41%
TD Bank	Black Rock Shopping Center	2.80%
State Farm Life Insurance Company	Tech Ridge Center	5.83%
American United Life Insurance Company	Westport Plaza	7.49%
TD Bank	Brickwalk Shopping Center	3.19%
Genworth Life Insurance Company	Aventura, Oakbrook & Treasure Coast	6.50%
Prudential Insurance Company of America	4S Commons Town Center	3.50%
Ellis Partners	Pruneyard	4.00%
Great-West Life & Annuity Insurance Co	Erwin Square	3.78%
PNC Bank	Circle Marina Center	2.54%
Prudential Insurance Company of America	Country Walk Plaza	3.91%
Metropolitan Life Insurance Company	Westbury Plaza	3.76%
PNC Bank	Fellsway Plaza	4.07%
New York Life Insurance	Oak Shade Town Center	6.05%
New York Life Insurance	Von's Circle Center	5.20%
Connecticut General Life Insurance Company	Copps Hill Plaza	6.06%
City of Rollingwood	Shops at Mira Vista	8.00%
Reliastar Life Insurance Company	Circle Center West	5.01%
CUNA Mutual Insurance Society	Ocala Corners	6.45%
Nationwide Bank	Kent Place*	3.30%
Unamortized premiums on assumed debt of acquired properties, net of issuance costs
Total Fixed Rate Mortgage Loans		4.10%

Unsecured Debt

Effective
Rate (1)	Maturity	6/30/2020			12/31/2019
	11/10/20	$	27,000	$	27,000
	01/10/21		35,511			35,824
	05/05/21		4,303			4,582
	10/01/22		7,683			8,050
	01/06/23		9,318			9,400
	04/01/23		19,588			19,767
	06/01/23		3,959			4,554
	08/01/23		2,244			2,385
	11/01/23		32,664			32,952
	02/28/24		10,817			12,067
	06/05/24		85,000			85,000
	06/30/24		2,200			2,200
	09/01/24		10,000			10,000
	03/17/25		24,000			24,000
	11/05/25		16,000			-
	02/01/26		88,000			88,000
	06/02/27		36,879			37,166
	05/10/28		6,632			6,954
	10/10/28		6,763			7,083
	01/01/29		11,790			12,306
	03/01/32		209			215
	10/01/36		9,330			9,513
	04/01/20		-			3,891
	04/01/20		-			8,250
			3,865			4,252
3.78%		$	453,755		$	455,411

Debt Offering (10/22/12)	Fixed-rate unsecured
Debt Offering (5/16/14)	Fixed-rate unsecured
Debt Offering (8/17/15)	Fixed-rate unsecured
Debt Placement (5/11/2016)	Fixed-rate unsecured
Debt Placement (8/11/2016)	Fixed-rate unsecured
Debt Offering (1/17/17)	Fixed-rate unsecured
Debt Offering (3/9/18)	Fixed-rate unsecured
Debt Offering (8/13/19)	Fixed-rate unsecured
Debt Offering (5/13/20)	Fixed-rate unsecured
Debt Offering (1/17/17)	Fixed-rate unsecured
Debt Offering (3/6/19)	Fixed-rate unsecured
Term Loan	Fixed-rate unsecured
Revolving Line of Credit	Variable-rate unsecured
Unamortized debt discount and issuance costs
Total Unsecured Debt, Net of Discounts
Variable Rate Mortgage Loans
PNC Bank	Market at Springwoods Village
TD Bank, N.A.	Concord Shopping Plaza
Unamortized debt discount and issuance costs
Total Variable Rate Mortgage Loans
Total
* Indicates sold property

3.75%

3.90%

3.81%

3.91%

3.60%

4.13%

2.95%

3.70%

4.40%

4.65%

2.00% LIBOR + 0.875%

3.70%

LIBOR + 1.50% LIBOR + 0.95%

1.25%

3.16%

(2)	11/15/22	$	300,000	$	300,000

	06/15/24		250,000			250,000
	11/01/25		250,000			250,000
	05/11/26		100,000			100,000
	08/11/26		100,000			100,000
	02/01/27		525,000			525,000
	03/15/28		300,000			300,000
	09/15/29		425,000			425,000
	06/15/30		600,000			-
	02/01/47		425,000			425,000
(3)	03/15/49		300,000			300,000
01/05/22		265,000			265,000
(4)
03/23/22		-			220,000

				(35,487)			(30,865)
	3.82%		$	3,804,513		$	3,429,135
	03/28/21	$	7,350	$	7,350
	12/21/21		27,750			27,750
				(70)			(102)
	1.43%		$	35,030		$	34,998
			$	4,293,298		$	3,919,544
	3.26%

Effective interest rates are calculated in accordance with US GAAP, as of the quarter end, and include the impact of debt premium/(discount) amortization, issuance cost amortization, interest rate swaps, and facility and unused fees.
On August 3, 2020, the operating partnership provided notification of its intent to redeem on September 2, 2020 the entire $300 million outstanding.
The interest rate on the underlying debt is LIBOR + 0.95%, with an interest rate swap in place to fix the interest rate on the entire $265 million balance at 2.00% through maturity.
Rate applies to drawn balance only. Additional annual facility fee of 0.15% applies to entire $1.25 bilion line of credit. Maturity is subject to two additional six-month periods at the Company's option.

Summary of Unsecured Debt Covenants and Leverage Ratios

June 30, 2020

(in thousands)

Outstanding Unsecured Public Debt:	Origination		Maturity		Rate	$	Balance
	10/25/12		11/15/22		3.750%	300,000
	05/16/14	06/15/24	3.750%	$	250,000
	08/17/15	11/01/25	3.900%	$	250,000
	01/17/17	02/01/27	3.600%	$	525,000
	03/09/18	03/15/28	4.125%	$	300,000
	08/20/19	09/15/29	2.950%	$	425,000
	05/13/20	06/15/30	3.700%	$	600,000
	01/17/17	02/01/47	4.400%	$	425,000
	03/06/19	03/15/49	4.650%	$	300,000

Unsecured Public Debt Covenants:	Required	6/30/2020	3/31/2020	12/31/2019	9/30/2019	6/30/2019
Fair Market Value Calculation Method Covenants(1)(2)
Total Consolidated Debt to Total Consolidated Assets	≤ 65%	31%	31%	29%	29%	28%
Secured Consolidated Debt to Total Consolidated Assets	≤ 40%	4%	4%	4%	4%	4%
Consolidated Income for Debt Service to Consolidated Debt Service	≥ 1.5x		4.3x		5.1x		5.4x	5.3x	5.5x
Unencumbered Consolidated Assets to Unsecured Consolidated Debt	>150%	328%	327%	356%	358%	372%

Ratios:	6/30/2020	3/31/2020	12/31/2019	9/30/2019	6/30/2019
Consolidated Only
Net debt to total market capitalization	32.2%	36.0%	26.4%	24.7%	24.5%
Net debt to real estate assets, before depreciation	31.8%	31.6%	32.7%	33.0%	32.1%
Net debt to total assets, before depreciation	29.2%	29.0%	29.7%	29.9%	29.0%
Net debt to Operating EBITDAre - TTM	5.1x		4.8x		4.9x	5.0x	4.8x
Fixed charge coverage	4.6x		5.0x		5.0x	5.0x	5.0x
Interest coverage	4.9x		5.3x		5.3x	5.4x	5.4x
Unsecured assets to total real estate assets	88.8%	88.6%	88.6%	88.7%	88.9%
Unsecured NOI to total NOI - TTM	90.2%	90.0%	90.0%	90.0%	90.0%
Unencumbered assets to unsecured debt	260%	247%	287%	291%	301%
Total Pro-Rata Share
Net debt to total market capitalization	35.2%	39.1%	29.0%	27.2%	27.1%
Net debt to real estate assets, before depreciation	33.7%	33.5%	34.6%	34.8%	34.0%
Net debt to total assets, before depreciation	31.0%	30.8%	31.4%	31.6%	30.8%
Net debt to Operating EBITDAre - TTM	5.6x		5.3x		5.4x	5.5x	5.3x
Fixed charge coverage	4.0x		4.3x		4.3x	4.3x	4.3x
Interest coverage	4.4x		4.7x		4.7x	4.7x	4.7x

For a complete listing of all Debt Covenants related to the Company's Senior Unsecured Notes, as well as definitions of the above terms, please refer to the Company's filings with the Securities and Exchange Commission.
Current period debt covenants are finalized and submitted after the Company's most recent Form 10-Q or Form 10-K filing.

Summary of Unconsolidated Debt

June 30, 2020 and December 31, 2019

Total Debt Outstanding:

Mortgage loans payable: Fixed rate secured loans Variable rate secured loans

Unsecured credit facilities variable rate Total

Schedule of Maturities by Year:

2020

2021

2022

2023

2024

2025

2026

2027

2028

2029

>10 Years

Unamortized debt premium/(discount) and issuance costs (2)

(in thousands)

	Scheduled
	Principal		Mortgage Loan		Unsecured
	Payments		Maturities		Maturities	Total
$	7,965	26,408	-	34,373
	11,217	306,989	15,635	333,841
	7,811	260,702	-	268,513
	3,196	171,608	-	174,804
	1,796	33,690	-	35,486
	2,168	146,000	-	148,168
	2,390	79,286	-	81,676
	2,364	137,800	-	140,164
	2,258	62,450	-	64,708
	1,710	60,000	-	61,710
	2,137	234,785	-	236,922
	-		(9,726)		-	(9,726)
$	45,012	1,509,992	15,635	1,570,639

6/30/2020

$ 1,439,073 115,930 15,635

$ 1,570,639

Regency's Pro Rata

16,166

111,018

99,917

65,137

14,217

44,853

32,551

32,950

22,555

12,550

91,334

(3,239)

540,009

12/31/2019

$ 1,441,840 115,992 19,635

$ 1,577,467

Weighted Average

Contractual

Interest Rate on

Maturities

2.19%

4.56%

3.79%

4.76%

3.90%

3.59%

3.83%

3.53%

4.26%

4.34%

3.22%

3.95%

Percentage of Total Debt:

Fixed

Variable

Current Weighted Average Contractual Interest Rates:(1)

Fixed

Variable

Combined

Current Weighted Average Effective Interest Rates:(2)

Combined

Average Years to Maturity:

Fixed

Variable

6/30/2020

91.6%

8.4%

4.1%

2.4%

4.0%

4.1%

4.9

1.4

12/31/2019

91.4%

8.6%

4.5%

3.9%

4.4%

4.6%

4.1

0.6

Interest rates are calculated as of the quarter end.
Effective interest rates are calculated in accordance with US GAAP, as of the quarter end, and include the impact of debt premium/(discount) amortization, issuance cost, amortization, interest rate swaps, and facility and unused fees.

Unconsolidated Investments

June 30, 2020

(in thousands)

Investment Partner and	Number of	Total		Total		Total				Regency
			Ownership		Share	Investment		Equity
Portfolio Summary Abbreviation	Properties	GLA		Assets		Debt		Interest		of Debt	6/30/2020	Pick-up
State of Oregon	20	2,219	$	521,152	$	244,779	20.00%	$	48,956	$	47,815	$	1,010
(JV-C,JV-C2)
(JV-CCV)	1	558		96,673		59,924	30.00%		17,977		10,662		522
GRI	21	2,777		617,825		304,703
68	8,749		1,613,674		922,765	40.00%		369,106		181,673		10,199
(JV-GRI)
CalSTRS	6	611		107,862		-	25.00%		-		26,122		538
(JV-RC)
NYSCRF	5	1,052		233,250		114,811	30.00%		34,443		34,809		248
(JV-NYC)
USAA (1)	7	683		86,661		104,092	20.01%		20,827		(4,037)		396
(JV-USA)
Publix	2	211		26,678		-	50.00%		-		13,056		689
(JV-O)
Individual Investors	2	247		125,638		-	49.90%		-		61,861		133
Ballard Blocks
Town and Country Center	1	230		205,152		89,558	35.00%		31,345		39,159		(150)
Others	3	392		113,369		34,710	50.00%		17,355		59,128		657

	115	14,952	$	3,130,109	$	1,570,639			$	540,009	$	470,248	$	14,242

The USAA partnership has distributed proceeds from debt refinancing and real estate sales in excess of Regency's carrying value of its investment resulting in a negative investment balance, which is classified within Accounts Payable and Other Liabilities in the Consolidated Balance Sheets.

Property Transactions

June 30, 2020

(in thousands)

Acquisitions:

		Co-investment Partner			Regency's Share of	Weighted
				Average Cap
Date	Property Name	(REG %)	Market	Total GLA	Purchase Price	Rate	Anchor(s)
Jan-20	Country Walk Plaza(1)	NYCRF (70%)	Miami, FL	101	$	27,740		Publix, CVS

	Total			101	$	27,740	4.8%
Dispositions:
		Co-investment Partner			Regency's Share of	Weighted
				Average Cap
Date	Property Name	(REG %)	Market	Total GLA	Sales Price	Rate	Anchor(s)
Jan-20	Young Circle Shopping Center		Hollywood, FL	65	$	15,750		Walgreens
Jan-20	Stonewall Shopping Center		Gainesville, VA	315		82,630		Wegmans, Michael's, Staples, Dick's Sporting Goods, Bed Bath &
			Beyond, Ross Dress For Less

Apr-20	Kent Place	Other (50%)	Denver, CO	48		9,830		King Soopers

	Total			428	$	108,210	6.1%

(1) REG closed on the purchase of its partner's New York Common Retirement Fund ("NYCRF"), 70% interest. Upon closing this asset became 100% REG owned.

Summary of In-Process Developments and Redevelopments

June 30, 2020 (in thousands)

In light of the COVID-19 pandemic, management is currently reviewing the impacts to project scope, investment, tenancy, timing, and return on investments on all in-process and pipeline projects to determine the most appropriate future direction of each project. Some projects and investments have been phased or placed under further review as management assesses the impacts of the pandemic. For more detail of our commitments on in-process and phased projects, see project description on following page.

In-Process Developments and Redevelopments

		Grocer/Anchor				Est Initial Rent	Est Stabilization	REG's Est Net	% of Costs	Stabilized
Shopping Center Name	Market	Tenant	GLA	% Leased	Project Start	Commencement (a)	Year (b)	Project Costs	Incurred	Yield +/- (c)
Carytown Exchange Phase I* (1) (2)	Richmond, VA	Publix	116	50%	Q4-2018	1H-2021	2022	$17,187	68%	6%-7%
The Village at Hunter's Lake*	Tampa, FL	Sprouts	72	95%	Q4-2018	2H-2020	2021	22,051	75%	8%

Bloomingdale Square	Tampa, FL	Publix, LA Fitness	252	92%	Q3-2018	2H-2019	2022	20,839	89%	9%
Market Common Clarendon Phase I (3)	Metro, DC	Equinox	130	23%	Q4-2018	TBD	TBD	36,386	68%	8%-9%
Point 50	Metro, DC	Whole Foods	48	87%	Q4-2018	2H-2020	2022	17,363	71%	8%
The Abbot Phase I (2)	Boston, MA	Retail/Office users	65	19%	Q2-2019	TBD	TBD	33,532	58%	9%-10%
West Bird Plaza	Miami, FL	Publix	99	99%	Q4-2019	2H-2021	2022	10,338	22%	7%
Various Redevelopment Properties (est costs are less			1,984	93%				34,608	58%	10% +/-
than $10 Million)

Total In-Process (In Construction)			2,766	86%				$192,304	65%

Current Year Development and Redevelopment Completions*
		Grocer/Anchor				Est Initial Rent	Est Stabilization	REG's Est Net	% of Costs	Stabilized
Shopping Center Name	Market	Tenant	GLA	% Leased	Project Start	Commencement (a)	Year (b)	Project Costs	Incurred	Yield +/- (c)
Pablo Plaza Ph II	Jacksonville, FL	Whole Foods	157	98%	Q4-2018	1H-2021	2022	$14,627	90%	6%
Various Redevelopment Properties (est costs are less			1,057	92%				$17,025	93%	6%
than $10 Million)
Total Completions			1,214	93%				$31,652	91%	6%

* Ground up development or redevelopment that is not included in the Same Property NOI pool.

**Regency's Estimated Net GAAP Project Costs, after additional interest and overhead capitalization, are $41,963 for ground up Developments In-Process and $162,164 for Redevelopments In-Process. Percent of costs incurred is 72% for Developments and 64% for Redevelopments in Process.

Reflects Regency's share of Estimated Net Development Costs is 66% controlling interest for Phase I and 61% for Phase II, resulting in a blended pro-rata share of 64%.
GLA, percent (%) leased and estimated stabilized yield represent Phase I and II combined.
GLA, percent (%) leased, and estimated stabilized yield represents office building Phase I and II, and does not include retail portion of the property.

Note: NOI from Properties in Development and NOI adjustment for Development Completions not yet stabilized have been relocated to Components of NAV on page 32.

Estimated Initial Rent Commencement represents the estimated date that the anchor or first tenants at each project will rent commence.
Estimated Stabilization Year represents the estimated first full calendar year that the project will reach the stated stabilized yield.
A stabilized yield for a redevelopment property represents the incremental NOI (estimated stabilized NOI less NOI prior to project commencement) over the total project costs.

Summary of In-Process Developments and Redevelopments

			June 30, 2020
			(in thousands)

In-Process Developments and Redevelopments
Shopping Center Name	Market	Grocer/Anchor Tenant	Description
Carytown Exchange Phase I	Richmond, VA	Publix	Located in Richmond's most desirable retail corridor, Carytown is a ground up development anchored by Publix and complemented by street retail and
			unparalleled structured parking. Construction on Phase I (Publix, Shop Bldg E and structured parking) shall continue as planned and the remaining 3 shop
			buildings will be constructed at a later date (Phase II).
The Village at Hunter's Lake	Tampa, FL	Sprouts	Located in the growing submarket of New Tampa, Hunter's Lake is a horizontal mixed-use ground up development featuring a Sprouts anchored retail
			center, a County owned community center, and 250 multifamily units (N.A.P.).

Bloomingdale Square	Tampa, FL	Publix, LA Fitness	Reconfiguration of the former Walmart box for the relocation and expansion of Publix and HOME centric; backfilling the former Publix box with LA Fitness;
			construction of an additional 14K SF retail shop building; facade renovations and enhancements to remaining center.
Market Common Clarendon Phase I	Metro, DC	Equinox	Redevelopment of vacant 1960's era office building into a 130K SF modern, mixed-use building anchored by a Equinox, two floors of creative office, and
			ground floor retail to complement the existing dominant, high street, mixed-use center in Arlington, VA. The Equinox space has been delivered. In
			comparison to our Q1 disclosure, total project costs on Phase I have increased $3.5M due to timing of costs incurred and additional spend related to the
			building shell and soft costs. Construction on Phase II for the remainder of the building has been paused as Management reviews the impact to this
			project in light of the COVID-19 pandemic to determine the most appropriate future direction of the project.

Point 50	Metro, DC	Whole Foods	Redevelopment includes the demolition of a deteriorated center and develop new 30K SF Whole Foods, and 18K SF of shop space.

The Abbot Phase I	Boston, MA	Retail/Office users	Generational redevelopment and modernization of 3 historic buildings in the heart of Harvard Square into mixed-use project with retail and office.
			Construction in Cambridge was halted in late March. Since the ban was lifted effective June 1st, construction has resumed on Phase I to complete the
			ground up building. In comparison to our Q1 disclosure, Phase I costs have increased $11.8M to reflect the scope and completion of the ground-up
			building vs halting the project. Phase II includes interior building completion and tenant buildouts. Entire $1.1M of the property NOI came offline in early
			2019 with no anticipated NOI in 2020.

West Bird Plaza	Miami, FL	Publix	Redevelopment includes the demolition of Publix and adjacent CVS space and construct new 48K SF Publix; update façade and additional site work
			improvements.

Various redevelopment properties	Various	Various	Various redevelopment properties where estimated incremental costs are less than $10 Million.

Major Developments and Redevelopments Pipeline

				June 30, 2020
				(in thousands)

Select Operating Properties with Near Term Developments and Redevelopment*
Shopping Center Name				Est Project	REG's Est Incremental
Market	GLA	% Leased	Start	Project Costs	Current Description
Town and Country Center	Los Angeles, CA	230	38%	2021	$20,000 - $30,000	Committed to redevelopment of vacant former K-Mart box with new retail below 325 mid-rise
						apartments on a ground lease. Effective January 2020, Regency purchased an additional 16.6%
						interest, bringing our total ownership interest to 35%. As we continue to advance entitlements and
						position this redevelopment to start, economics and timing of project currently are being re-studied.

Gateway Plaza at Aventura	Miami, FL	30	0%	TBD	$10,000 - $15,000	Located on Biscayne Boulevard in a vibrant sub-market of Miami, project will redevelop existing building
						(prior Babies R Us) with potential to bring a specialty grocer to the center and densify with additional
						retail GLA. Lease negotiations continuing with specialty grocer as economics and timing of the project
						currently under review, including consideration of potentially phased shop retail buildings.

Westbard Square	Bethesda, MD	213	90%	TBD	$110,000 - $125,000	Converting dated multi-parcel retail project which includes a Giant anchored shopping center; a 3 level
						garden office building, 2 gas stations, and a vacant senior housing building, into a vibrant mixed-use
						project consisting of 170K SF of new retail anchored by Giant, 200 units of apartments, 100 units of
						assisted living, and 100 for-sale townhomes. Estimated incremental project costs include Regency's non-
						retail co-investment. While entitlements proceed, the project's timing, stabilization and economics are
						being re-studied.

Hancock Center	Austin, TX	410	54%	TBD	$55,000 - $65,000	Transformative adaptive reuse of former Sears building (REG received Sears rent through 2/2019) into
						creative office, in addition to potential expansion of retail anchor or potential sale. Project has intrinsic
						demand for various commercial uses in this desirable infill market. Office component redevelopment
						represents the majority of TPC estimated range.
Costa Verde Center	San Diego, CA	179	83%	TBD	$175,000 - $200,000	Large-scale redevelopment of existing Shopping Center with new retail, office, hotel (on a ground lease)
						and structured parking, adjacent to new transit station. Office component is contemplated to be in
						partnership with a best-in-class office owner. As we continue to advance entitlements and position this
						redevelopment to start, economics and timing of project are being re-studied.

Serramonte Center	San Francisco, CA	1,140	91%	TBD	$120,000 - $140,000	Multi-phased redevelopment with plans of 3 projects including new retail as well as other uses to
						continue to augment this Class A mall. The project is currently under review as Management reassess
						the scope, merchandising, project costs, and return on investment in light of the COVID-19 pandemic to
						determine the most appropriate future direction.

Culver Public Market	Los Angeles, CA	27	49%	TBD	$20,000 - $30,000	Ground up development located in West LA's high barrier-to-entry trade area, dynamic city retail to be
						anchored by a market hall operator with additional inline retail shops. Underground utility work
						completed in anticipation of vertical construction, however, project is on pause as economics and timing
						are being studied in light of COVID-19 pandemic to determine the most appropriate future direction of
						the project.

The Abbot Phase II (1)	Boston, MA	65	19%	TBD	$10,000 - $25,000	Generational redevelopment and modernization of 3 historic buildings in the heart of Harvard Square
						into mixed-use project with retail and office. Construction in Cambridge was halted in late March. Since
						the ban was lifted effective June 1st, construction has resumed on Phase I to complete the ground up
						building. In comparison to our Q1 disclosure, Phase I costs have increased $11.8M to reflect the scope
						and completion of the ground-up building vs halting the project. Phase II includes interior building
						completion and tenant buildouts. Entire $1.1M of the property NOI came offline in early 2019 with no
						anticipated NOI in 2020.

Market Common Clarendon Phase II (1)	Metro, DC	130	23%	TBD	$10,000 - $25,000	Redevelopment of vacant 1960's era office building into a 130K SF modern, mixed-use building
						anchored by a Equinox, two floors of creative office, and ground floor retail to complement the existing
						dominant, high street, mixed-use center in Arlington, VA. The Equinox space has been delivered. In
						comparison to our Q1 disclosure, total project costs on phase I have increased $3.5M due to timing of
						costs incurred and additional spend related to the building shell and soft costs. Construction on Phase II
						for the remainder of the building has been paused as Management reviews the impact to this project in
						light of the COVID-19 pandemic to determine the most appropriate future direction of the project.

Carytown Exchange Phase II	Richmond, VA	45	0%	TBD	$5,000 - $15,000	Located in Richmond's most desirable retail corridor, Carytown is a ground up development anchored by
						Publix and complemented by street retail and unparalleled structured parking. Construction on Phase I
						(Publix, Shop Bldg E and structured parking) shall continue as planned and the remaining 3 shop
						buildings will be constructed at a later date (Phase II).

*Selection reflects material under earning assets. Selection does not incorporate all pipeline opportunities.

Note: Scope, economics and timing of development and redevelopment program and projects could change materially from estimates provided.

(1) GLA and percent (%) leased represent Phase I and II combined.

Leasing Statistics - Wholly Owned and Regency's Pro-Rata Share of Co-investment Partnerships

June 30, 2020

(Retail Operating Properties Only)

Leasing Statistics - Comparable

								Tenant
	Leasing	GLA	New Base			Weighted Avg.	Allowance and
			Landlord Work
Total	Transactions	(in 000s)	Rent/Sq. Ft	Rent Spread %	Lease Term		/Sq. Ft.
2nd Quarter 2020	185	1,307	$	17.15	4.0%	6.5	$	1.64
1st Quarter 2020	313	1,471		22.16	4.1%	5.4		2.42
4th Quarter 2019	393	1,764		25.05	11.3%	6.7		11.02
3rd Quarter 2019	403	1,684		23.53	6.6%	5.3		5.62
Total - 12 months	1,294	6,226	$	22.31	7.0%	6.0	$	5.56

								Tenant
	Leasing	GLA	New Base			Weighted Avg.	Allowance and
			Landlord Work
New Leases	Transactions	(in 000s)	Rent/Sq. Ft	Rent Spread %	Lease Term		/Sq. Ft.
2nd Quarter 2020	23	121	$	15.23	20.1%	12.9	$	8.00
1st Quarter 2020	61	144		32.93	-0.9%	7.7		19.81
4th Quarter 2019	97	492		23.35	19.6%	11.0		39.25
3rd Quarter 2019	97	260		30.52	10.0%	8.0		32.37
Total - 12 months	278	1,017	$	25.50	12.2%	10.0	$	30.44

								Tenant
	Leasing	GLA	New Base			Weighted Avg.	Allowance and
			Landlord Work
Renewals	Transactions	(in 000s)	Rent/Sq. Ft	Rent Spread %	Lease Term		/Sq. Ft.
2nd Quarter 2020	162	1,185	$	17.38	2.6%	5.7	$	0.88
1st Quarter 2020	252	1,327		21.01	4.9%	5.1		0.56
4th Quarter 2019	296	1,273		25.67	8.8%	5.2		0.85
3rd Quarter 2019	306	1,424		22.14	5.7%	4.7		0.29
Total - 12 months	1,016	5,209	$	21.68	5.8%	5.2	$	0.63

Leasing Statistics - Comparable and Non-comparable

					Tenant
	Leasing	GLA	New Base	Weighted Avg.	Allowance and
	Landlord Work
Total	Transactions	(in 000s)	Rent/Sq. Ft	Lease Term	/Sq. Ft.

2nd Quarter 2020	228	1,491	$	18.07
1st Quarter 2020	370	1,651		22.64
4th Quarter 2019	458	2,045		25.79
3rd Quarter 2019	483	1,948		24.04
Total - 12 months	1,539	7,135	$	23.04

6.2	$	2.75
5.5		5.28
6.9		12.77
5.3		8.39
6.0	$	7.81

Notes:

All amounts reported at execution.
Number of leasing transactions and GLA leased reported at 100%; All other statistics reported at pro-rata share.
Rent spreads are calculated on a comparable-space, cash basis for new and renewal leases executed and include all leasing transactions, including spaces vacant > 12 months.
Tenant Allowance & Landlord Work are costs required to make the space leasable and include improvements of a space as it relates to a specific lease. These costs include tenant improvements and inducements.
Excludes Non-Retail Properties

Average Base Rent by CBSA - Wholly Owned and Regency's Pro-Rata Share of Co-investment Partnerships

June 30, 2020 (in thousands)

Largest CBSAs by Population(1)	Number of		% Leased(2)					% of Number of
Properties	GLA		ABR		ABR/Sq. Ft.	Properties	% of GLA	% of ABR
New York-Newark-Jersey City	16	1,736	91.7%	$	61,052	$	38.36	3.9%	4.1%	6.7%
Los Angeles-LongBeach-Anaheim	27	2,587	96.3%		70,521		28.32	6.5%	6.1%	7.7%
Chicago-Naperville-Elgin	11	1,628	95.6%		29,881		19.20	2.7%	3.8%	3.3%
Dallas-FortWorth-Arlington	12	775	94.1%		16,588		22.74	2.9%	1.8%	1.8%
Houston-Woodlands-Sugar Land	13	1,589	96.8%		29,670		19.29	3.1%	3.7%	3.2%
Washington-Arlington-Alexandri	27	1,880	89.8%		47,956		28.39	6.5%	4.4%	5.2%
Miami-FtLauderdale-W Palm Bch	44	5,378	93.1%		104,782		20.94	10.6%	12.7%	11.5%
Philadelphia-Camden-Wilmington	8	696	91.8%		14,710		23.04	1.9%	1.6%	1.6%
Atlanta-SandySprings-Roswell	22	2,065	94.4%		43,013		22.07	5.3%	4.9%	4.7%
Boston-Cambridge-Newton	10	955	93.2%		21,937		24.65	2.4%	2.2%	2.4%
Phoenix-Mesa-Scottsdale	0	--	--		--		--	--	--	--
San Francisco-Oakland-Hayward	22	3,851	91.2%		107,557		30.64	5.3%	9.1%	11.8%
Rvrside-SanBernardino-Ontario	2	137	84.8%		3,253		28.06	0.5%	0.3%	0.4%
Detroit-Warren-Dearborn	0	--	--		--		--	--	--	--
Seattle-Tacoma-Bellevue	16	1,163	97.2%		30,892		27.32	3.9%	2.7%	3.4%
Minneapol-St.Paul-Bloomington	5	205	96.7%		3,402		17.19	1.2%	0.5%	0.4%
San Diego-Carlsbad	11	1,536	96.5%		43,879		29.60	2.7%	3.6%	4.8%
Tampa-St.Petersburg-Clearwater	9	1,280	96.0%		22,824		18.59	2.2%	3.0%	2.5%
Denver-Aurora-Lakewood	11	939	94.9%		13,836		15.53	2.7%	2.2%	1.5%
St. Louis	4	408	100.0%		4,396		10.77	1.0%	1.0%	0.5%
Baltimore-Columbia-Towson	5	357	92.4%		7,792		23.62	1.2%	0.8%	0.9%
Charlotte-Concord-Gastonia	4	232	86.1%		4,320		21.60	1.0%	0.5%	0.5%
Orlando-Kissimmee-Sanford	8	809	95.7%		14,031		18.13	1.9%	1.9%	1.5%
San Antonio-New Braunfels	0	--	--		--		--	--	--	--
Portland-Vancouver-Hillsboro	5	436	95.6%		8,399		20.13	1.2%	1.0%	0.9%
Top 25 CBSAs by Population	292	30,640	93.9%	$	704,690	$	23.39	70.4%	72.2%	77.0%

CBSAs Ranked 26 - 50 by Population	61	6,521	92.9%		110,740		18.22	14.7%	15.4%	12.1%

CBSAs Ranked 51 - 75 by Population	23	2,138	96.2%		51,678		24.78	5.5%	5.0%	5.6%

CBSAs Ranked 76 - 100 by Population	11	754	96.4%		11,849		16.30	2.7%	1.8%	1.3%

Other CBSAs	28	2,396	94.8%		35,844		15.76	6.7%	5.6%	3.9%

Total All Properties	415	42,449	93.9%	$	914,800	$	22.90	100%	100%	100%

(1) 2019 Population Data Source: Synergos Technologies, Inc.

(2) Includes Properties in Development and leases that are executed but have not commenced.

Significant Tenant Rents - Wholly Owned and Regency's Pro-Rata Share of

Co-investment Partnerships

(Includes Tenants ≥ 0.5% of ABR)

June 30, 2020

			(in thousands)		Total # of
					Total	% of Total	Leased Stores
			% of Company-		- 100%
			Annualized	Annualized	Owned and	# of Leased
#	Tenant	Tenant GLA	Owned GLA		Base Rent	Base Rent	JV	Stores in JV
1	Publix	2,786	6.6%	$	29,984	3.3%	68	12
2	Kroger Co.(1)	2,825	6.7%		27,624	3.0%	55	15
3	Albertsons Companies, Inc.(2)	1,813	4.3%		25,975	2.8%	46	18
4	Whole Foods	1,082	2.5%		23,251	2.5%	34	12
5	TJX Companies, Inc.(3)	1,362	3.2%		23,115	2.5%	63	20
6	CVS	665	1.6%		15,450	1.7%	57	19
7	Ahold/Delhaize(4)	475	1.1%		11,500	1.3%	13	7
8	L.A. Fitness Sports Club	487	1.1%		9,610	1.1%	14	4
9	Nordstrom(5)	320	0.8%		8,972	1.0%	9	-
10	Bed Bath & Beyond Inc.(6)	469	1.1%		8,876	1.0%	18	-
11	Trader Joe's	271	0.6%		8,723	1.0%	27	7
12	Ross Dress For Less	545	1.3%		8,521	0.9%	25	9
13	Gap, Inc(7)	246	0.6%		7,889	0.9%	20	3
14	JAB Holding Company(8)	187	0.4%		7,405	0.8%	67	16
15	Starbucks	139	0.3%		7,175	0.8%	97	32
16	PETCO Animal Supplies, Inc(9)	286	0.7%		7,110	0.8%	34	11
17	JPMorgan Chase Bank	124	0.3%		7,089	0.8%	39	8
18	Bank of America	132	0.3%		6,890	0.8%	43	16
19	Wells Fargo Bank	128	0.3%		6,651	0.7%	49	18
20	Target	570	1.3%		6,642	0.7%	6	2
21	Kohl's	612	1.4%		5,867	0.6%	8	2
22	H.E. Butt Grocery Company(10)	347	0.8%		5,858	0.6%	5	-
23	Walgreens Boots Alliance(11)	236	0.6%		5,681	0.6%	23	9
24	Dick's Sporting Goods, Inc.(12)	299	0.7%		5,161	0.6%	6	2
25	Ulta	170	0.4%		5,146	0.6%	19	3
26	AT&T, Inc(13)	109	0.3%		4,897	0.5%	62	16
27	Best Buy	214	0.5%		4,832	0.5%	6	1
28	Wal-Mart	660	1.6%		4,746	0.5%	7	-
29	Staples, Inc.	183	0.4%		4,161	0.5%	10	1
	Top Tenants	17,742	41.8%	$	304,801	33.3%	930	263

Kroger 21 / King Soopers 11 / Harris Teeter 9 / Ralphs 9 / Mariano's Fresh Market 3 / Quality Food Centers 2
Safeway 21 / VONS 7 / Albertson's 4 / Acme Markets 3 / Shaw's 3 / Tom Thumb 3 / Randalls Food & Drug 2 / Star Market 2 / Jewel 1
TJ Maxx 26 / Homegoods 18 / Marshalls 16 / Homesense 2 / Sierra Trading Post 1
Giant 8 / Stop & Shop 4 / Food Lion 1
Nordstrom Rack 9
Bed Bath & Beyond 11 / Cost Plus World Market 5 / Buy Buy Baby 1 / Harmon Face Values 1
Old Navy 13 / The Gap 3 / Athleta 2 / Banana Republic 1 / GAP BR Factory 1
Panera 33 / Einstein Bros Bagels 13 / Peet's' Coffee & Tea 11 / Bruegger's Bagel 4/ Krispy Kreme 3/ Noah's NY Bagels 3
Petco 28 / Unleashed by Petco 6
H.E.B. 4 / Central Market 1
Walgreens 22 / Duane Reade 1
Dick's Sporting Goods 5 / Golf Galaxy 1
AT&T 53 / Cricket 9

Tenant Lease Expirations - Wholly Owned and Regency's Pro-Rata Share of Co-investment Partnerships

June 30, 2020

(GLA in thousands)

Anchor Tenants(1)

			Percent of	Percent of
Year		GLA	GLA	Total ABR(3)		ABR
MTM(4)		142	0.4%	0.2%	$	13.42
2020		214	0.5%	0.4%		14.78
2021		2,252	5.7%	3.1%		12.34
2022		3,018	7.6%	5.1%		15.25
2023		2,691	6.8%	4.9%		16.28
2024		3,490	8.8%	6.0%		15.47
2025		2,918	7.4%	4.9%		15.25
2026		1,629	4.1%	3.3%		18.29
2027		1,325	3.4%	2.6%		17.50
2028		1,569	4.0%	3.1%		17.67
2029		1,228	3.1%	1.7%		12.71
10 Year Total		20,478	52.0%	35.3%	$	15.51

Thereafter	4,773	12.0%	9.0%		16.93
		25,251	64.0%	44.3%	$	15.78

Shop Tenants(2)

				Percent of
Year		GLA	Percent of GLA	Total ABR(3)		ABR
MTM(4)		329	0.8%	1.2%	$	33.94
2020		810	2.1%	3.0%		33.03
2021		2,099	5.3%	7.8%		33.37
2022		2,291	5.8%	8.5%		33.29
2023		1,990	5.0%	7.7%		34.90
2024		1,875	4.7%	7.2%		34.36
2025		1,525	3.9%	6.1%		35.84
2026		773	2.0%	3.3%		38.02
2027		643	1.6%	2.7%		37.94
2028		600	1.5%	2.7%		40.99
2029		510	1.3%	2.2%		39.63
10 Year Total		13,444	34.0%	52.4%	$	35.06

Thereafter	799	35.5%	3.3%		37.14
		14,243	36.0%	55.7%	$	35.18

All Tenants

				Percent of
Year		GLA	Percent of GLA	Total ABR(3)		ABR
MTM(4)		471	1.2%	1.5%	$	27.74
2020		1,023	2.6%	3.3%		29.22
2021		4,351	11.0%	10.9%		22.49
2022		5,310	13.4%	13.6%		23.03
2023		4,681	11.9%	12.6%		24.19
2024		5,364	13.6%	13.2%		22.07
2025		4,444	11.3%	11.0%		22.32
2026		2,402	6.1%	6.6%		24.64
2027		1,968	5.0%	5.3%		24.18
2028		2,169	5.5%	5.8%		24.12
2029		1,738	4.4%	4.0%		20.60
10 Year Total		33,922	85.9%	87.7%	$	23.25

Thereafter	5,572	14.1%	12.3%		19.83
		39,494	100%	100%	$	22.77

Note: Reflects commenced leases only. Does not account for contractual rent steps and assumes that no tenants exercise renewal options.

Anchor tenants represent any tenant occupying at least 10,000 square feet.
Shop tenants represent any tenant occupying less than 10,000 square feet.
Total Annual Base Rent ("ABR") excludes additional rent such as percentage rent, common area maintenance, real estate taxes, and insurance reimbursements.
Month to month lease or in process of renewal.

Portfolio Summary Report By State

June 30, 2020

(GLA in thousands)

						JVs at 100%	REG's pro-rata	REG's pro-rata	REG's pro-rata share
							share	share
										Retailer-	Grocery
			REG						% Leased - Retail	Owned	Anchor
	Property Name	JV	%	State	CBSA	GLA	GLA	% Leased	Operating Properties	GLA	GLA	Major Tenants (1)	Avg. Base Rent PSF
	200 Potrero			CA	San Francisco-Oakland-Hayward	31	31	100.0%				Gizmo Art Production, INC.	$13.66
	4S Commons Town Center	M	85%	CA	San Diego-Carlsbad	240	240	100.0%			68	Ralphs, Jimbo's...Naturally!, Bed Bath & Beyond, Cost Plus	$34.14
			World Market, CVS, Ace Hardware, Ulta

	Amerige Heights Town Center			CA	Los Angeles-LongBeach-Anaheim	89	89	98.9%		143	58	Albertsons, (Target)	$30.14
	Balboa Mesa Shopping Center			CA	San Diego-Carlsbad	207	207	99.4%			42	Von's, Kohl's, CVS	$26.99
	Bayhill Shopping Center	GRI	40%	CA	San Francisco-Oakland-Hayward	122	49	97.2%			32	Mollie Stone's Market, CVS	$26.07
	Blossom Valley	USAA	20%	CA	San Jose-Sunnyvale-Santa Clara	93	19	100.0%			34	Safeway, CVS	$28.05
	Brea Marketplace	GRI	40%	CA	Los Angeles-LongBeach-Anaheim	352	141	98.7%			25	Sprout's, Target, 24 Hour Fitness, Big 5 Sporting Goods,	$19.86
			Childtime Childcare, Golf Galaxy, Old Navy
	Circle Center West			CA	Los Angeles-LongBeach-Anaheim	64	64	100.0%				Marshalls	$30.57
(2)	Circle Marina Center			CA	Los Angeles-LongBeach-Anaheim	118	118	94.1%				Staples, Big 5 Sporting Goods, Centinela Feed & Pet	$30.64
						Supplies
	Clayton Valley Shopping Center			CA	San Francisco-Oakland-Hayward	260	260	93.7%			14	Grocery Outlet, Central, CVS, Dollar Tree, Ross Dress For	$23.17
					Less

	Corral Hollow	RC	25%	CA	Stockton-Lodi	167	42	100.0%			66	Safeway, CVS	$17.67
(2)	Costa Verde Center			CA	San Diego-Carlsbad	179	179	83.0%			40	Bristol Farms, Bookstar, The Boxing Club	$30.27
	Culver Center			CA	Los Angeles-LongBeach-Anaheim	217	217	95.7%			37	Ralphs, Best Buy, LA Fitness, Sit N' Sleep, Tuesday	$32.36
					Morning
(2)	Culver Public Market			CA	Los Angeles-LongBeach-Anaheim	27	27	49.4%				Urbanspace	$56.17
	Diablo Plaza			CA	San Francisco-Oakland-Hayward	63	63	97.3%		53	53	(Safeway), (CVS), Beverages & More!	$40.93
	El Camino Shopping Center			CA	Los Angeles-LongBeach-Anaheim	136	136	99.5%			31	Bristol Farms, CVS	$36.76
	El Cerrito Plaza			CA	San Francisco-Oakland-Hayward	256	256	95.3%		67	78	(Lucky's), Trader Joe's, (CVS), Bed Bath & Beyond, Barnes	$30.42
				& Noble, Jo-Ann Fabrics, PETCO, Ross Dress For Less

	El Norte Pkwy Plaza			CA	San Diego-Carlsbad	91	91	95.4%			42	Von's, Children's Paradise, ACE Hardware	$18.82
	Encina Grande			CA	San Francisco-Oakland-Hayward	106	106	99.1%			38	Whole Foods, Walgreens	$33.10
	Five Points Shopping Center	GRI	40%	CA	Santa Maria-Santa Barbara	145	58	98.7%			35	Smart & Final, CVS, Ross Dress for Less, Big 5 Sporting	$30.32
			Goods, PETCO

	French Valley Village Center			CA	Rvrside-SanBernardino-Ontario	99	99	98.6%			44	Stater Bros, CVS	$27.30
	Friars Mission Center			CA	San Diego-Carlsbad	147	147	99.2%			55	Ralphs, CVS	$36.81
	Gateway 101			CA	San Francisco-Oakland-Hayward	92	92	100.0%		212		(Home Depot), (Best Buy), Target, Nordstrom Rack	$34.95
	Gelson's Westlake Market Plaza			CA	Oxnard-ThousandOaks-Ventura	85	85	100.0%			40	Gelson's Markets, John of Italy Salon & Spa	$29.40
	Golden Hills Plaza			CA	San Luis Obispo-PasoRobles-Arroyo Grande	244	244	95.4%				Lowe's, Bed Bath & Beyond, TJ Maxx	$7.58
	Granada Village	GRI	40%	CA	Los Angeles-LongBeach-Anaheim	226	91	100.0%			24	Sprout's Markets, Rite Aid, Stein Mart, PETCO, Homegoods	$24.85

	Hasley Canyon Village	USAA	20%	CA	Los Angeles-LongBeach-Anaheim	66	13	100.0%			52	Ralphs	$26.91
	Heritage Plaza			CA	Los Angeles-LongBeach-Anaheim	230	230	99.0%			44	Ralphs, CVS, Daiso, Mitsuwa Marketplace, Total Woman	$38.67

	Jefferson Square			CA	Rvrside-SanBernardino-Ontario	38	38	48.9%				CVS	$16.63
	Laguna Niguel Plaza	GRI	40%	CA	Los Angeles-LongBeach-Anaheim	42	17	100.0%		39	39	(Albertsons), CVS	$29.29
	Marina Shores	C	20%	CA	Los Angeles-LongBeach-Anaheim	68	14	98.3%			26	Whole Foods, PETCO	$36.23
	Mariposa Shopping Center	GRI	40%	CA	San Jose-Sunnyvale-Santa Clara	127	51	94.7%			43	Safeway, CVS, Ross Dress for Less	$21.31
	Morningside Plaza			CA	Los Angeles-LongBeach-Anaheim	91	91	97.3%			43	Stater Bros.	$23.85
	Navajo Shopping Center	GRI	40%	CA	San Diego-Carlsbad	102	41	99.1%			44	Albertsons, Rite Aid, O'Reilly Auto Parts	$14.80
	Newland Center			CA	Los Angeles-LongBeach-Anaheim	152	152	100.0%			58	Albertsons	$27.19
	Oak Shade Town Center			CA	Sacramento--Roseville--Arden-Arcade	104	104	99.3%			40	Safeway, Office Max, Rite Aid	$22.46
	Oakbrook Plaza			CA	Oxnard-ThousandOaks-Ventura	83	83	93.9%			44	Gelson's Markets, (Longs Drug)	$21.34
(2)	Parnassus Heights Medical	RLP	50%	CA	San Francisco-Oakland-Hayward	146	73	98.7%				University of CA	$86.49
	Persimmon Place			CA	San Francisco-Oakland-Hayward	153	153	100.0%			40	Whole Foods, Nordstrom Rack, Homegoods	$36.82
	Plaza Escuela			CA	San Francisco-Oakland-Hayward	154	154	97.5%				The Container Store, Trufusion, Talbots, Forever 21, The	$45.11
						Cheesecake Factory

	Plaza Hermosa			CA	Los Angeles-LongBeach-Anaheim	95	95	100.0%			37	Von's, CVS	$26.97
	Pleasant Hill Shopping Center	GRI	40%	CA	San Francisco-Oakland-Hayward	227	91	100.0%				Target, Burlington, Ross Dress for Less, Homegoods	$24.13
(2)	Pleasanton Plaza			CA	San Francisco-Oakland-Hayward	163	163	13.5%				JCPenney, Cost Plus World Market	$22.23
	Point Loma Plaza	GRI	40%	CA	San Diego-Carlsbad	205	82	93.4%			50	Von's, 24 Hour Fitness, Jo-Ann Fabrics, Marshalls	$23.17
	Potrero Center			CA	San Francisco-Oakland-Hayward	227	227	99.8%			60	Safeway, Decathlon Sport, 24 Hour Fitness, Ross Dress for	$33.33
					Less, Petco, Party City
	Powell Street Plaza			CA	San Francisco-Oakland-Hayward	166	166	98.8%			10	Trader Joe's, Beverages & More!, Ross Dress For Less,	$35.06
					Marshalls, Old Navy

	Prairie City Crossing (FKA Folsom Piairie City Crossing)			CA	Sacramento--Roseville--Arden-Arcade	90	90	100.0%			55	Safeway	$21.22
	Raley's Supermarket	C	20%	CA	Sacramento--Roseville--Arden-Arcade	63	13	100.0%			63	Raley's	$14.00
	Ralphs Circle Center			CA	Los Angeles-LongBeach-Anaheim	60	60	100.0%			35	Ralphs	$18.77
	Rancho San Diego Village	GRI	40%	CA	San Diego-Carlsbad	153	61	98.3%			40	Smart & Final, (Longs Drug), 24 Hour Fitness	$22.47
	Rona Plaza			CA	Los Angeles-LongBeach-Anaheim	52	52	97.7%			37	Superior Super Warehouse	$21.59
	San Carlos Marketplace			CA	San Francisco-Oakland-Hayward	154	154	100.0%				TJ Maxx, Best Buy, PetSmart, Bassett Furniture	$36.25
	Scripps Ranch Marketplace			CA	San Diego-Carlsbad	132	132	98.7%			57	Vons, CVS	$31.94
	San Leandro Plaza			CA	San Francisco-Oakland-Hayward	50	50	86.3%		38	38	(Safeway), (CVS)	$39.22
	Seal Beach	C	20%	CA	Los Angeles-LongBeach-Anaheim	97	19	95.7%			48	Safeway, CVS	$26.25

Portfolio Summary Report By State

June 30, 2020

(GLA in thousands)

							JVs at 100%	REG's pro-rata	REG's pro-rata	REG's pro-rata share
								share	share
											Retailer-	Grocery
				REG						% Leased - Retail	Owned	Anchor
		Property Name	JV	%	State	CBSA	GLA	GLA	% Leased	Operating Properties	GLA	GLA	Major Tenants (1)	Avg. Base Rent PSF
	(2) Sequoia Station			CA	San Francisco-Oakland-Hayward	103	103	86.9%		62	62	(Safeway), CVS, Barnes & Noble, Old Navy	$43.42
													Macy's, Target, Dick's Sporting Goods, Dave & Buster's,
		Serramonte Center			CA	San Francisco-Oakland-Hayward	1,140	1,140	91.0%				Nordstrom Rack, Regal Cinemas, Buy Buy Baby, Cost Plus	$27.32
							World Market, Crunch Gym, DAISO, Forever 21, H&M, Old

													Navy, Party City, Ross, TJ Maxx, Uniqlo
		Shoppes at Homestead			CA	San Jose-Sunnyvale-Santa Clara	113	113	100.0%		53		(Orchard Supply Hardware), CVS, Crunch Fitness	$24.01
		Silverado Plaza	GRI	40%	CA	Napa	85	34	95.0%			32	Nob Hill, CVS	$21.35
		Snell & Branham Plaza	GRI	40%	CA	San Jose-Sunnyvale-Santa Clara	92	37	96.4%			53	Safeway	$20.20
		South Bay Village			CA	Los Angeles-LongBeach-Anaheim	108	108	100.0%			30	Wal-Mart, Orchard Supply Hardware, Homegoods	$20.31
		Talega Village Center			CA	Los Angeles-LongBeach-Anaheim	102	102	94.6%			46	Ralphs	$22.29
		Tassajara Crossing			CA	San Francisco-Oakland-Hayward	146	146	98.3%			56	Safeway, CVS, Alamo Hardware	$24.01
		The Hub Hillcrest Market			CA	San Diego-Carlsbad	149	149	96.1%			52	Ralphs, Trader Joe's	$40.51
		The Marketplace			CA	Sacramento--Roseville--Arden-Arcade	111	111	98.0%			35	Safeway,CVS, Petco	$26.47
(2)	The Pruneyard			CA	San Jose-Sunnyvale-Santa Clara	258	258	98.2%			13	Trader Joe's, The Sports Basement, Camera Cinemas,	$39.75
						Marshalls

		Town and Country Center	O	35%	CA	Los Angeles-LongBeach-Anaheim	230	81	38.3%			41	Whole Foods, CVS, Citibank	$49.34
		Tustin Legacy			CA	Los Angeles-LongBeach-Anaheim	112	112	100.0%			44	Stater Bros, CVS	$32.34
		Twin Oaks Shopping Center	GRI	40%	CA	Los Angeles-LongBeach-Anaheim	98	39	97.1%			41	Ralphs, Rite Aid	$21.18
		Twin Peaks			CA	San Diego-Carlsbad	208	208	99.0%			45	Atlas International Market, Target	$21.23
		Valencia Crossroads			CA	Los Angeles-LongBeach-Anaheim	173	173	100.0%			35	Whole Foods, Kohl's	$28.05
		Village at La Floresta			CA	Los Angeles-LongBeach-Anaheim	87	87	100.0%			37	Whole Foods	$34.68
		Von's Circle Center			CA	Los Angeles-LongBeach-Anaheim	151	151	100.0%			45	Von's, Ross Dress for Less, Planet Fitness	$22.37
		West Park Plaza			CA	San Jose-Sunnyvale-Santa Clara	88	88	95.9%			25	Safeway, Rite Aid	$18.29
		Westlake Village Plaza and Center			CA	Oxnard-ThousandOaks-Ventura	201	201	97.4%			72	Von's, Sprouts, (CVS)	$40.10
		Willows Shopping Center			CA	San Francisco-Oakland-Hayward	249	249	86.4%				REI, UFC Gym, Old Navy, Pier 1 Imports, Ulta,	$29.29
							ClaimJumper, The Jungle Fun Concord

		Woodman Van Nuys			CA	Los Angeles-LongBeach-Anaheim	108	108	100.0%			78	El Super	$16.79
		Woodside Central			CA	San Francisco-Oakland-Hayward	81	81	100.0%		113		(Target),Chuck E. Cheese, Marshalls	$26.01
		Ygnacio Plaza	GRI	40%	CA	San Francisco-Oakland-Hayward	110	44	98.6%				Sports Basement,TJ Maxx	$37.87
					CA		11,650	9,740	94.2%	95.9%	780	2,700
		Applewood Shopping Ctr	GRI	40%	CO	Denver-Aurora-Lakewood	354	141	90.7%			71	King Soopers, Hobby Lobby, Applejack Liquors, PetSmart,	$15.03
				Homegoods, Sierra Trading Post, Ulta
		Alcove On Arapahoe	GRI	40%	CO	Boulder	159	64	80.9%			44	Safeway, Jo-Ann Fabrics, PETCO, HomeGoods	$18.18

		Belleview Square			CO	Denver-Aurora-Lakewood	117	117	100.0%			65	King Soopers	$20.95
		Boulevard Center			CO	Denver-Aurora-Lakewood	79	79	76.1%		53	53	(Safeway), One Hour Optical	$30.96
		Buckley Square			CO	Denver-Aurora-Lakewood	116	116	95.5%			62	King Soopers, Ace Hardware	$11.62
		Centerplace of Greeley III			CO	Greeley	119	119	100.0%				Hobby Lobby, Best Buy, TJ Maxx	$11.44
		Cherrywood Square Shop Ctr	GRI	40%	CO	Denver-Aurora-Lakewood	97	39	94.2%			72	King Soopers	$10.53
		Crossroads Commons	C	20%	CO	Boulder	143	29	92.0%			66	Whole Foods, Barnes & Noble	$29.31
		Crossroads Commons II	C	20%	CO	Boulder	20	4	65.8%				(Whole Foods), (Barnes & Noble)	$36.37
		Falcon Marketplace			CO	Colorado Springs	22	22	93.8%		184	50	(Wal-Mart)	$23.87
		Hilltop Village			CO	Denver-Aurora-Lakewood	100	100	100.0%			66	King Soopers	$11.60
		Littleton Square			CO	Denver-Aurora-Lakewood	99	99	98.5%			78	King Soopers	$11.21
		Lloyd King Center			CO	Denver-Aurora-Lakewood	83	83	95.0%			61	King Soopers	$11.96
		Marketplace at Briargate			CO	Colorado Springs	29	29	96.3%		66	66	(King Soopers)	$32.93
		Monument Jackson Creek			CO	Colorado Springs	85	85	100.0%			70	King Soopers	$12.54
		Ralston Square Shopping Center	GRI	40%	CO	Denver-Aurora-Lakewood	83	33	97.0%			55	King Soopers	$11.86
		Shops at Quail Creek			CO	Denver-Aurora-Lakewood	38	38	96.3%		100	100	(King Soopers)	$27.96
		Stroh Ranch			CO	Denver-Aurora-Lakewood	93	93	100.0%			70	King Soopers	$13.55
		Woodmen Plaza			CO	Colorado Springs	116	116	92.2%			70	King Soopers	$13.20
					CO		1,952	1,407	93.2%	94.7%	403	1,119
		22 Crescent Road			CT	Bridgeport-Stamford-Norwalk	4	4	100.0%					$60.00
		91 Danbury Road			CT	Bridgeport-Stamford-Norwalk	5	5	100.0%					$27.71
		Black Rock	M	80%	CT	Bridgeport-Stamford-Norwalk	98	98	89.4%				Old Navy, The Clubhouse	$31.19
		Brick Walk	M	80%	CT	Bridgeport-Stamford-Norwalk	122	122	91.0%					$45.30
		Brookside Plaza			CT	Hartford-WestHartford-East Hartford	217	217	89.7%			60	ShopRite, Bed, Bath & Beyond, TJ Maxx, PetSmart,	$14.86
						Walgreens, Staples
		Compo Acres Shopping Center			CT	Bridgeport-Stamford-Norwalk	43	43	100.0%			12	Trader Joe's	$50.62
		Copps Hill Plaza			CT	Bridgeport-Stamford-Norwalk	185	185	100.0%			59	Stop & Shop, Kohl's, Rite Aid	$14.42
		Corbin's Corner	GRI	40%	CT	Hartford-WestHartford-East Hartford	186	74	95.8%			10	Trader Joe's, Best Buy, Edge Fitness, Old Navy, The Tile	$30.36
				Shop, Total Wine and More

		Danbury Green			CT	Bridgeport-Stamford-Norwalk	124	124	97.6%			12	Trader Joe's, Hilton Garden Inn, DSW, Staples, Rite Aid,	$25.81
						Warehouse Wines & Liquors

		Darinor Plaza			CT	Bridgeport-Stamford-Norwalk	153	153	97.8%				Kohl's, Old Navy, Party City	$18.55
		Fairfield Center	M	80%	CT	Bridgeport-Stamford-Norwalk	94	94	99.4%				Fairfield University Bookstore, Merril Lynch	$32.40
		Post Road Plaza			CT	Bridgeport-Stamford-Norwalk	20	20	100.0%			11	Trader Joe's	$54.83
		Southbury Green			CT	New Haven-Milford	156	156	90.6%			60	ShopRite, Homegoods	$22.92
		The Village Center			CT	Bridgeport-Stamford-Norwalk	90	90	79.5%			22	The Fresh Market	$41.94

Portfolio Summary Report By State

June 30, 2020

(GLA in thousands)

							JVs at 100%	REG's pro-rata	REG's pro-rata	REG's pro-rata share
								share	share
											Retailer-	Grocery
				REG						% Leased - Retail	Owned	Anchor
		Property Name	JV	%	State	CBSA	GLA	GLA	% Leased	Operating Properties	GLA	GLA	Major Tenants (1)	Avg. Base Rent PSF
		Walmart Norwalk			CT	Bridgeport-Stamford-Norwalk	142	142	100.0%			112	WalMart, HomeGoods	$0.56
					CT		1,639	1,528	94.4%	94.3%	0	358
		Shops at The Columbia	RC	25%	DC	Washington-Arlington-Alexandri	23	6	100.0%			12	Trader Joe's	$41.68
		Spring Valley Shopping Center	GRI	40%	DC	Washington-Arlington-Alexandri	17	7	82.4%					$115.31
					DC		40	12	92.5%	90.5%	0	12
		Pike Creek			DE	Philadelphia-Camden-Wilmington	232	232	95.8%			49	Acme Markets	$15.06
		Shoppes of Graylyn	GRI	40%	DE	Philadelphia-Camden-Wilmington	64	26	89.7%				Rite Aid	$24.22
					DE		296	257	94.4%	95.1%	0	49
		Alafaya Village			FL	Orlando-Kissimmee-Sanford	38	38	93.9%		58	58	(Lucky's)	$23.03
		Anastasia Plaza			FL	Jacksonville	102	102	95.1%			49	Publix	$13.95
		Atlantic Village			FL	Jacksonville	110	110	96.4%				LA Fitness, Pet Supplies Plus	$17.36
		Aventura Shopping Center			FL	Miami-FtLauderdale-W Palm Bch	97	97	97.5%			49	Publix, CVS	$36.89
		Aventura Square			FL	Miami-FtLauderdale-W Palm Bch	144	144	79.3%				Bed, Bath & Beyond, DSW, Jewelry Exchange, Old Navy	$39.50
(2)	Banco Popular Building			FL	Miami-FtLauderdale-W Palm Bch	33	33	0.0%					$0.00
		Berkshire Commons			FL	Naples-Immokalee-Marco Island	110	110	98.2%			66	Publix, Walgreens	$14.67
		Bird 107 Plaza			FL	Miami-FtLauderdale-W Palm Bch	40	40	92.9%				Walgreens	$20.98
		Bird Ludlam			FL	Miami-FtLauderdale-W Palm Bch	192	192	97.9%			44	Winn-Dixie, CVS, Goodwill	$23.95
		Bloomingdale Square			FL	Tampa-St.Petersburg-Clearwater	252	252	92.4%			48	Publix, Bealls, Dollar Tree, Home Centric, LA Fitness	$16.73
		Boca Village Square			FL	Miami-FtLauderdale-W Palm Bch	92	92	97.6%			36	Publix, CVS	$22.78
		Boynton Lakes Plaza			FL	Miami-FtLauderdale-W Palm Bch	110	110	93.4%			46	Publix, Citi Trends, Pet Supermarket	$16.82
		Boynton Plaza			FL	Miami-FtLauderdale-W Palm Bch	105	105	96.1%			54	Publix, CVS	$21.32
		Brooklyn Station on Riverside			FL	Jacksonville	50	50	94.8%			20	The Fresh Market	$26.45
		Caligo Crossing			FL	Miami-FtLauderdale-W Palm Bch	11	11	61.0%		98		(Kohl's)	$48.13
		Carriage Gate			FL	Tallahassee	73	73	98.6%			13	Trader Joe's, TJ Maxx	$23.71
		Cashmere Corners			FL	Port St. Lucie	86	86	80.0%			44	WalMart	$14.00
		Charlotte Square			FL	Punta Gorda	91	91	92.1%			44	WalMart, Buffet City	$10.79
		Chasewood Plaza			FL	Miami-FtLauderdale-W Palm Bch	152	152	96.4%			54	Publix, Pet Smart	$26.41
		Concord Shopping Plaza			FL	Miami-FtLauderdale-W Palm Bch	309	309	95.1%			78	Winn-Dixie, Home Depot, Big Lots, Dollar Tree, YouFit	$12.72
						Health Club

		Coral Reef Shopping Center			FL	Miami-FtLauderdale-W Palm Bch	75	75	93.7%			25	Aldi, Walgreens	$32.18
		Corkscrew Village			FL	Cape Coral-Fort Myers	82	82	91.5%			51	Publix	$14.12
		Country Walk Plaza			FL	Miami-FtLauderdale-W Palm Bch	101	101	90.5%			40	Publix, CVS	$20.20
		Countryside Shops			FL	Miami-FtLauderdale-W Palm Bch	193	193	93.7%			46	Publix, Stein Mart, Ross Dress for Less	$19.25
		Courtyard Shopping Center			FL	Jacksonville	137	137	100.0%		63	63	(Publix), Target	$3.50
		Fleming Island			FL	Jacksonville	132	132	96.8%		130	48	Publix, (Target), PETCO, Planet Fitness	$16.32
		Fountain Square			FL	Miami-FtLauderdale-W Palm Bch	177	177	89.2%		140	46	Publix,(Target), Ross Dress for Less, TJ Maxx, Ulta	$26.68
		Gardens Square			FL	Miami-FtLauderdale-W Palm Bch	90	90	98.7%			42	Publix	$18.44
		Glengary Shoppes			FL	North Port-Sarasota-Bradenton	93	93	97.0%				Best Buy, Barnes & Noble	$19.47
		Shoppes of Grande Oak			FL	Cape Coral-Fort Myers	79	79	98.5%			54	Publix	$16.38
		Greenwood Shopping Centre			FL	Miami-FtLauderdale-W Palm Bch	133	133	93.2%			50	Publix, Beall's	$15.88
		Hammocks Town Center			FL	Miami-FtLauderdale-W Palm Bch	187	187	97.5%		86	40	Publix, Metro-Dade Public Library, (Kendall Ice Arena),	$17.38
					YouFit Health Club, Goodwill, CVS

		Hibernia Pavilion			FL	Jacksonville	51	51	92.0%			39	Publix	$16.31
		Homestead McDonald's			FL	Miami-FtLauderdale-W Palm Bch	4	4	100.0%					$27.74
		John's Creek Center	C	20%	FL	Jacksonville	75	15	100.0%			45	Publix	$15.91
		Julington Village	C	20%	FL	Jacksonville	82	16	100.0%			51	Publix, (CVS)	$16.63
		Kirkman Shoppes			FL	Orlando-Kissimmee-Sanford	115	115	96.7%				LA Fitness, Walgreens	$23.99
		Lake Mary Centre			FL	Orlando-Kissimmee-Sanford	360	360	94.3%			25	The Fresh Market, Academy Sports, Hobby Lobby, LA	$16.48
						Fitness, Ross Dress for Less, Office Depot

		Lantana Outparcels			FL	Miami-FtLauderdale-W Palm Bch	17	17	100.0%					$22.45
		Mandarin Landing			FL	Jacksonville	140	140	89.1%			50	Whole Foods, Office Depot, Aveda Institute	$18.12
		Millhopper Shopping Center			FL	Gainesville	83	83	100.0%			46	Publix	$18.07
		Naples Walk Shopping Center			FL	Naples-Immokalee-Marco Island	125	125	97.0%			51	Publix	$17.65
		Newberry Square			FL	Gainesville	181	181	91.5%			40	Publix, Floor & Décor, Dollar Tree	$9.29
		Nocatee Town Center			FL	Jacksonville	110	110	97.7%			54	Publix	$20.90
		Northgate Square			FL	Tampa-St.Petersburg-Clearwater	75	75	95.3%			48	Publix	$14.95
		Oakleaf Commons			FL	Jacksonville	74	74	98.1%			46	Publix	$15.51
		Ocala Corners			FL	Tallahassee	87	87	95.9%			61	Publix	$14.97
		Old St Augustine Plaza			FL	Jacksonville	248	248	100.0%			52	Publix, Burlington Coat Factory, Hobby Lobby, LA Fitness,	$10.95
						Ross Dress for Less

		Pablo Plaza			FL	Jacksonville	161	161	98.4%			34	Whole Foods, Office Depot, Marshalls, HomeGoods,	$17.38
						PetSmart

		Pavillion			FL	Naples-Immokalee-Marco Island	168	168	96.5%				LA Fitness, Paragon Theaters, J. Lee Salon Suites	$21.73
		Pine Island			FL	Miami-FtLauderdale-W Palm Bch	255	255	98.0%			40	Publix, Burlington Coat Factory, Beall's Outlet, YouFit	$14.55
						Health Club
		Pine Ridge Square			FL	Miami-FtLauderdale-W Palm Bch	118	118	97.0%			17	The Fresh Market, Bed, Bath & Beyond, Marshalls, Ulta	$18.27
		Pine Tree Plaza			FL	Jacksonville	63	63	100.0%			38	Publix	$14.86
(2)	Pinecrest Place			FL	Miami-FtLauderdale-W Palm Bch	70	70	94.0%		173	47	Whole Foods, (Target)	$39.74
		Plaza Venezia	C	20%	FL	Orlando-Kissimmee-Sanford	202	40	99.7%			51	Publix, Eddie V's	$27.32

Portfolio Summary Report By State

June 30, 2020

(GLA in thousands)

					JVs at 100%	REG's pro-rata	REG's pro-rata	REG's pro-rata share
						share	share
									Retailer-	Grocery
		REG						% Leased - Retail	Owned	Anchor
Property Name	JV	%	State	CBSA	GLA	GLA	% Leased	Operating Properties	GLA	GLA	Major Tenants (1)	Avg. Base Rent PSF
Point Royale Shopping Center			FL	Miami-FtLauderdale-W Palm Bch	202	202	98.4%			45	Winn-Dixie, Burlington Coat Factory, Pasteur Medical	$15.97
				Center, Tuesday Morning, Planet Fitness

Prosperity Centre			FL	Miami-FtLauderdale-W Palm Bch	124	124	95.1%				Bed, Bath & Beyond, Office Depot, TJ Maxx, CVS	$22.40
											AMC Theater, (Best Buy), (Macdill), Dollar Tree, Five
Regency Square			FL	Tampa-St.Petersburg-Clearwater	352	352	94.2%		66		Below, Marshall's, Michael's, PETCO, Shoe Carnival, Staples,	$18.98
											TJ Maxx, Ulta, Old Navy
Ryanwood Square			FL	Sebastian-Vero Beach	115	115	89.6%			40	Publix, Beall's, Harbor Freight Tools	$11.53
Salerno Village			FL	Port St. Lucie	5	5	100.0%					$16.53
Sawgrass Promenade			FL	Miami-FtLauderdale-W Palm Bch	107	107	90.3%			36	Publix, Walgreens, Dollar Tree	$12.44
Seminole Shoppes	O	50%	FL	Jacksonville	87	44	95.6%			54	Publix	$23.16
Sheridan Plaza			FL	Miami-FtLauderdale-W Palm Bch	506	506	91.7%			66	Publix, Kohl's, LA Fitness, Office Depot, Ross Dress for	$19.00
				Less, Pet Supplies Plus
Shoppes @ 104			FL	Miami-FtLauderdale-W Palm Bch	112	112	96.3%			46	Winn-Dixie, CVS	$19.58
Shoppes at Bartram Park	O	50%	FL	Jacksonville	135	67	95.4%		97	45	Publix, (Kohl's), (Tutor Time)	$20.54
Shoppes at Lago Mar			FL	Miami-FtLauderdale-W Palm Bch	83	83	90.8%			42	Publix, YouFit Health Club	$15.08
Shoppes at Sunlake Centre			FL	Tampa-St.Petersburg-Clearwater	100	100	100.0%			46	Publix	$22.68
Shoppes of Jonathan's Landing			FL	Miami-FtLauderdale-W Palm Bch	27	27	100.0%		54	54	(Publix)	$25.33
Shoppes of Oakbrook			FL	Miami-FtLauderdale-W Palm Bch	200	200	85.5%			44	Publix, Stein Mart, Tuesday Morning, Duffy's Sports Bar,	$15.46
				CVS
Shoppes of Pebblebrook Plaza	O	50%	FL	Naples-Immokalee-Marco Island	77	38	100.0%			61	Publix, (Walgreens)	$15.61
Shoppes of Silver Lakes			FL	Miami-FtLauderdale-W Palm Bch	127	127	92.6%			48	Publix, Goodwill	$19.54
Shoppes of Sunset			FL	Miami-FtLauderdale-W Palm Bch	22	22	94.8%					$25.22
Shoppes of Sunset II			FL	Miami-FtLauderdale-W Palm Bch	28	28	74.2%					$22.91
Shops at John's Creek			FL	Jacksonville	15	15	100.0%					$24.79
Shops at Skylake			FL	Miami-FtLauderdale-W Palm Bch	287	287	91.8%			51	Publix, LA Fitness, TJ Maxx, Goodwill	$23.98
South Beach Regional			FL	Jacksonville	308	308	97.5%			13	Trader Joe's, Home Depot, Stein Mart, Ross Dress for	$15.61
				Less, Bed Bath & Beyond, Staples

South Point			FL	Sebastian-Vero Beach	65	65	97.8%			45	Publix	$17.04
Starke			FL	Other	13	13	100.0%				CVS	$25.56
Suncoast Crossing			FL	Tampa-St.Petersburg-Clearwater	118	118	97.6%		143		Kohl's, (Target)	$6.92
Tamarac Town Square			FL	Miami-FtLauderdale-W Palm Bch	125	125	73.9%			38	Publix, Dollar Tree	$12.61
The Grove	NYC	30%	FL	Orlando-Kissimmee-Sanford	152	46	100.0%			52	Publix, LA Fitness	$22.08
The Plaza at St. Lucie West			FL	Port St. Lucie	27	27	93.6%					$23.54
(2) The Village at Hunter's Lake			FL	Tampa-St.Petersburg-Clearwater	72	72	95.1%			29	Sprouts	$26.90
Town and Country			FL	Orlando-Kissimmee-Sanford	78	78	97.9%				Ross Dress for Less	$10.76
Town Square			FL	Tampa-St.Petersburg-Clearwater	44	44	100.0%				PETCO, Pier 1 Imports	$32.50
Treasure Coast Plaza			FL	Sebastian-Vero Beach	134	134	94.6%			59	Publix, TJ Maxx	$16.92
Unigold Shopping Center			FL	Orlando-Kissimmee-Sanford	115	115	95.0%			31	Lucky's, YouFit Health Club, Ross Dress for Less	$15.30
University Commons			FL	Miami-FtLauderdale-W Palm Bch	180	180	100.0%			51	Whole Foods, Nordstrom Rack, Barnes & Noble, Bed Bath	$31.77
				& Beyond

Veranda Shoppes	NYC	30%	FL	Miami-FtLauderdale-W Palm Bch	45	13	97.3%			29	Publix	$27.11
Village Center			FL	Tampa-St.Petersburg-Clearwater	187	187	98.8%			50	Publix, Walgreens, Stein Mart	$20.50
Waterstone Plaza			FL	Miami-FtLauderdale-W Palm Bch	61	61	98.3%			46	Publix	$16.64
Welleby Plaza			FL	Miami-FtLauderdale-W Palm Bch	110	110	93.7%			47	Publix, Dollar Tree	$13.87
Wellington Town Square			FL	Miami-FtLauderdale-W Palm Bch	112	112	99.1%			45	Publix, CVS	$30.87
West Bird Plaza			FL	Miami-FtLauderdale-W Palm Bch	99	99	98.5%			38	Publix	$24.31
West Lake Shopping Center			FL	Miami-FtLauderdale-W Palm Bch	101	101	96.8%			46	Winn-Dixie, CVS	$19.38
Westchase			FL	Tampa-St.Petersburg-Clearwater	79	79	100.0%			51	Publix	$16.89
Westport Plaza			FL	Miami-FtLauderdale-W Palm Bch	47	47	100.0%			28	Publix	$20.48
Willa Springs	USAA	20%	FL	Orlando-Kissimmee-Sanford	90	18	93.9%			44	Publix	$21.14
			FL		11,611	10,965	94.7%	94.8%	1,107	3,464
Ashford Place			GA	Atlanta-SandySprings-Roswell	53	53	96.7%				Harbor Freight Tools	$22.47
Briarcliff La Vista			GA	Atlanta-SandySprings-Roswell	43	43	100.0%				Michael's	$21.92
Briarcliff Village			GA	Atlanta-SandySprings-Roswell	190	190	98.4%			43	Publix, Party City, Shoe Carnival, TJ Maxx	$16.72
Bridgemill Market			GA	Atlanta-SandySprings-Roswell	89	89	82.4%			38	Publix	$17.22
Brighten Park			GA	Atlanta-SandySprings-Roswell	137	137	98.9%			25	Lidl, Tuesday Morning, Dance 101	$26.65
Buckhead Court			GA	Atlanta-SandySprings-Roswell	49	49	100.0%					$28.93
Buckhead Station			GA	Atlanta-SandySprings-Roswell	234	234	100.0%				Nordstrom Rack, TJ Maxx, Bed Bath & Beyond, Saks Off	$24.41
					Fifth, DSW, Cost Plus World Market, Old Navy, Ulta

Cambridge Square			GA	Atlanta-SandySprings-Roswell	71	71	100.0%			41	Kroger	$16.48
Chastain Square			GA	Atlanta-SandySprings-Roswell	92	92	95.7%			37	Publix	$22.15
Cornerstone Square			GA	Atlanta-SandySprings-Roswell	80	80	100.0%			18	Aldi, CVS, HealthMarkets Insurance, Diazo Specialty	$17.68
				Blueprint

Sope Creek Crossing			GA	Atlanta-SandySprings-Roswell	99	99	100.0%			45	Publix	$16.50
Dunwoody Hall	USAA	20%	GA	Atlanta-SandySprings-Roswell	86	17	93.8%			44	Publix	$20.20
Dunwoody Village			GA	Atlanta-SandySprings-Roswell	121	121	91.7%			18	The Fresh Market, Walgreens, Dunwoody Prep	$19.89
Howell Mill Village			GA	Atlanta-SandySprings-Roswell	92	92	98.5%			31	Publix, Walgreens	$24.22
Paces Ferry Plaza			GA	Atlanta-SandySprings-Roswell	82	82	99.9%			30	Whole Foods	$38.53
Piedmont Peachtree Crossing			GA	Atlanta-SandySprings-Roswell	152	152	83.5%			56	Kroger, Binders Art Supplies & Frames	$20.93

Portfolio Summary Report By State

June 30, 2020

(GLA in thousands)

					JVs at 100%	REG's pro-rata	REG's pro-rata	REG's pro-rata share
						share	share
									Retailer-	Grocery
		REG						% Leased - Retail	Owned	Anchor
Property Name	JV	%	State	CBSA	GLA	GLA	% Leased	Operating Properties	GLA	GLA	Major Tenants (1)	Avg. Base Rent PSF
Powers Ferry Square			GA	Atlanta-SandySprings-Roswell	101	101	91.0%				HomeGoods, PETCO	$33.57
Powers Ferry Village			GA	Atlanta-SandySprings-Roswell	79	79	87.3%			48	Publix, The Juice Box	$9.70
Russell Ridge			GA	Atlanta-SandySprings-Roswell	101	101	95.7%			63	Kroger	$12.95
Sandy Springs			GA	Atlanta-SandySprings-Roswell	116	116	91.6%			12	Trader Joe's, Pier 1 Imports, Fox's	$24.55
The Shops at Hampton Oaks			GA	Atlanta-SandySprings-Roswell	21	21	37.8%				(CVS)	$12.50
Williamsburg at Dunwoody			GA	Atlanta-SandySprings-Roswell	45	45	85.4%					$26.10
			GA		2,134	2,065	94.4%	94.4%	0	551
Civic Center Plaza	GRI	40%	IL	Chicago-Naperville-Elgin	265	106	96.1%			87	Super H Mart, Home Depot, O'Reilly Automotive, King Spa	$11.28
Clybourn Commons			IL	Chicago-Naperville-Elgin	32	32	78.3%				PETCO	$36.72
Glen Oak Plaza			IL	Chicago-Naperville-Elgin	63	63	85.9%			12	Trader Joe's, Walgreens, Northshore University	$24.57
				Healthsystems

Hinsdale			IL	Chicago-Naperville-Elgin	185	185	91.9%			57	Whole Foods, Goodwill, Charter Fitness, Petco	$15.54
(2)											Whole Foods, Nordstrom Rack, REI, HomeGoods, Barnes
Mellody Farm			IL	Chicago-Naperville-Elgin	259	259	95.7%			45	$28.15
				& Noble, West Elm
Riverside Sq & River's Edge	GRI	40%	IL	Chicago-Naperville-Elgin	169	68	96.2%			74	Mariano's Fresh Market, Dollar Tree, Party City, Blink	$17.37
		Fitness

Roscoe Square	GRI	40%	IL	Chicago-Naperville-Elgin	140	56	100.0%			51	Mariano's Fresh Market, Ashley Furniture, Walgreens	$21.74
Stonebrook Plaza Shopping Center	GRI	40%	IL	Chicago-Naperville-Elgin	96	38	96.1%			63	Jewel-Osco, Blink Fitness	$11.94
Westchester Commons			IL	Chicago-Naperville-Elgin	139	139	92.4%			80	Mariano's Fresh Market, Goodwill	$18.27
Willow Festival			IL	Chicago-Naperville-Elgin	404	404	97.3%			60	Whole Foods, Lowe's, CVS, HomeGoods, REI, Best Buy,	$17.97
				Ulta

			IL		1,751	1,349	95.2%	94.7%	0	530
Shops on Main	M	93%	IN	Chicago-Naperville-Elgin	279	279	100.0%			40	Whole Foods, Dick's Sporting Goods, Ross Dress for Less,	$16.21
		HomeGoods, DSW, Nordstrom Rack, Marshalls

Willow Lake Shopping Center	GRI	40%	IN	Indianapolis-Carmel-Anderson	86	34	74.4%		64	64	(Kroger), Tuesday Morning	$17.11
Willow Lake West Shopping Center	GRI	40%	IN	Indianapolis-Carmel-Anderson	53	21	97.3%			12	Trader Joe's	$26.17
			IN		418	335	94.4%	97.2%	64	116
Fellsway Plaza	M	75%	MA	Boston-Cambridge-Newton	155	155	97.0%			61	Stop & Shop, Modells Sporting Goods, Planet Fitness	$22.46

											Wegmans, BJ's Wholesale Club, Kohl's,Dick's Sporting
Northborough Crossing	NYC	30%	MA	Worcester	646	194	97.5%			139	Goods, Pottery Barn Outlet, TJ Maxx, Michael's, PetSmart,	$13.19
											Homegoods, Old Navy, Homesense
Old Connecticut Path	NYC	30%	MA	Boston-Cambridge-Newton	80	24	93.2%			66	Stop & Shop	$21.74
Shaw's at Plymouth			MA	Boston-Cambridge-Newton	60	60	100.0%			60	Shaw's	$17.58
Shops at Saugus			MA	Boston-Cambridge-Newton	87	87	93.3%			11	Trader Joe's, La-Z-Boy, PetSmart	$30.16
Star's at Cambridge			MA	Boston-Cambridge-Newton	66	66	100.0%			66	Star Market	$37.44
Star's at Quincy			MA	Boston-Cambridge-Newton	101	101	100.0%			101	Star Market	$21.48
Star's at West Roxbury			MA	Boston-Cambridge-Newton	76	76	100.0%			55	Shaw's	$25.08
The Abbot			MA	Boston-Cambridge-Newton	65	65	19.0%					$0.00
Twin City Plaza			MA	Boston-Cambridge-Newton	285	285	100.0%			63	Shaw's, Marshall's, Extra Space Storage, Walgreens, K&G	$21.24
				Fashion, Dollar Tree, Everfitness, Formlabs
Whole Foods at Swampscott			MA	Boston-Cambridge-Newton	36	36	100.0%			36	Whole Foods	$27.20
			MA		1,657	1,149	94.9%	93.9%	0	657
Burnt Mills	C	20%	MD	Washington-Arlington-Alexandri	31	6	94.6%			9	Trader Joe's	$40.40
Cloppers Mill Village	GRI	40%	MD	Washington-Arlington-Alexandri	137	55	93.8%			70	Shoppers Food Warehouse, CVS, Dollar Tree	$17.84
Festival at Woodholme	GRI	40%	MD	Baltimore-Columbia-Towson	81	32	87.8%			10	Trader Joe's	$39.59
Firstfield Shopping Center	GRI	40%	MD	Washington-Arlington-Alexandri	22	9	87.0%					$42.49
Parkville Shopping Center	GRI	40%	MD	Baltimore-Columbia-Towson	165	66	97.1%			41	Giant, Parkville Lanes, Dollar Tree, Petco, The Cellar	$16.33
		Parkville

Southside Marketplace	GRI	40%	MD	Baltimore-Columbia-Towson	125	50	95.5%			44	Shoppers Food Warehouse	$21.58
Takoma Park	GRI	40%	MD	Washington-Arlington-Alexandri	104	42	100.0%			64	Lidl	$13.86
Valley Centre	GRI	40%	MD	Baltimore-Columbia-Towson	220	88	81.5%			18	Aldi,TJ Maxx, Ross Dress for Less, PetSmart, Michael's	$17.26
Village at Lee Airpark			MD	Baltimore-Columbia-Towson	121	121	97.7%		75	63	Giant, (Sunrise)	$28.44
Watkins Park Plaza	GRI	40%	MD	Washington-Arlington-Alexandri	111	45	100.0%				LA Fitness, CVS	$27.35
Westbard Square			MD	Washington-Arlington-Alexandri	213	213	89.7%			55	Giant, Citgo, Bowlmor AMF	$32.51
Woodmoor Shopping Center	GRI	40%	MD	Washington-Arlington-Alexandri	69	28	99.4%				CVS	$33.59
			MD		1,400	754	92.9%	92.8%	75	374
Fenton Marketplace			MI	Flint	97	97	100.0%				Family Farm & Home, Michael's	$8.55
			MI		97	97	100.0%	100.0%	0	0
Apple Valley Square	RC	25%	MN	Minneapol-St.Paul-Bloomington	176	44	100.0%		87		Jo-Ann Fabrics, Experience Fitness, (Burlington Coat	$16.06
		Factory), (Aldi), Savers, PETCO
Calhoun Commons	RC	25%	MN	Minneapol-St.Paul-Bloomington	66	17	94.6%			50	Whole Foods	$27.44
Colonial Square	GRI	40%	MN	Minneapol-St.Paul-Bloomington	93	37	98.6%			44	Lund's	$24.85
Rockford Road Plaza	GRI	40%	MN	Minneapol-St.Paul-Bloomington	204	82	96.4%				Kohl's, PetSmart, HomeGoods, TJ Maxx	$13.32
Rockridge Center	C	20%	MN	Minneapol-St.Paul-Bloomington	125	25	90.8%			89	CUB Foods	$13.46
			MN		665	205	96.4%	96.7%	87	183

Portfolio Summary Report By State

June 30, 2020

(GLA in thousands)

					JVs at 100%	REG's pro-rata	REG's pro-rata	REG's pro-rata share
						share	share
									Retailer-	Grocery
		REG						% Leased - Retail	Owned	Anchor
Property Name	JV	%	State	CBSA	GLA	GLA	% Leased	Operating Properties	GLA	GLA	Major Tenants (1)	Avg. Base Rent PSF
Brentwood Plaza			MO	St. Louis	60	60	100.0%			52	Schnucks	$10.91
Bridgeton			MO	St. Louis	71	71	100.0%		130	63	Schnucks, (Home Depot)	$12.21
Dardenne Crossing			MO	St. Louis	67	67	100.0%			63	Schnucks	$11.04
Kirkwood Commons			MO	St. Louis	210	210	100.0%		258	136	Walmart, (Target), (Lowe's), TJ Maxx, HomeGoods,	$10.15
			Famous Footwear

			MO		408	408	100.0%	100.0%	388	314
											Harris Teeter, The Fresh Market, Wake Public Library,
Cameron Village	C	30%	NC	Raleigh	558	167	90.7%			87	Walgreens, Talbots, Great Outdoor Provision Co., York	$24.31
		Properties, K&W Cafeteria,The Cheshire Cat Gallery, Crunch

											Fitness Select Club, Bailey's Fine Jewelry

Carmel Commons			NC	Charlotte-Concord-Gastonia	135	135	77.7%			14	The Fresh Market, Chuck E. Cheese, Party City	$23.57

Cochran Commons	C	20%	NC	Charlotte-Concord-Gastonia	66	13	100.0%			42	Harris Teeter, (Walgreens)	$17.11
Market at Colonnade Center			NC	Raleigh	58	58	100.0%			40	Whole Foods	$27.62
Glenwood Village			NC	Raleigh	43	43	100.0%			28	Harris Teeter	$17.19
Harris Crossing			NC	Raleigh	65	65	100.0%			53	Harris Teeter	$9.38
Holly Park			NC	Raleigh	160	160	99.9%			12	DSW, Trader Joe's, Ross Dress For Less, Staples, US	$17.80
				Fitness Products, Jerry's Artarama, Pet Supplies Plus, Ulta


Lake Pine Plaza			NC	Raleigh	88	88	100.0%			58	Harris Teeter	$13.32
(2) Midtown East	O	50%	NC	Raleigh	159	79	93.3%			120	Wegmans	$22.95
Providence Commons	RC	25%	NC	Charlotte-Concord-Gastonia	74	19	88.4%			50	Harris Teeter	$19.39
Ridgewood Shopping Center	C	20%	NC	Raleigh	93	19	92.3%			30	Whole Foods, Walgreens	$19.46
Shops at Erwin Mill	M	55%	NC	Durham-Chapel Hill	91	91	94.7%			53	Harris Teeter	$18.48
Shoppes of Kildaire	GRI	40%	NC	Raleigh	145	58	98.9%			46	Trader Joe's, Aldi, Fitness Connection, Staples	$19.29
Southpoint Crossing			NC	Durham-Chapel Hill	103	103	98.4%			59	Harris Teeter	$16.95
Sutton Square	C	20%	NC	Raleigh	101	20	89.7%			24	The Fresh Market	$20.57
Village Plaza	C	20%	NC	Durham-Chapel Hill	74	15	100.0%			42	Whole Foods, Community Worx	$22.02
Willow Oaks			NC	Charlotte-Concord-Gastonia	65	65	100.0%			49	Publix	$17.37
Woodcroft Shopping Center			NC	Durham-Chapel Hill	90	90	98.7%			41	Food Lion, ACE Hardware	$13.96
			NC		2,168	1,288	94.1%	94.9%	0	848
Chimney Rock			NJ	New York-Newark-Jersey City	218	218	100.0%			50	Whole Foods, Nordstrom Rack, Saks Off 5th, The	$36.88
				Container Store, Cost Plus World Market, Ulta

District at Metuchen	C	20%	NJ	New York-Newark-Jersey City	67	13	100.0%			44	Whole Foods	$29.52
Haddon Commons	GRI	40%	NJ	Philadelphia-Camden-Wilmington	54	22	100.0%			34	Acme Markets	$14.36
Plaza Square	GRI	40%	NJ	New York-Newark-Jersey City	104	42	89.0%			60	Shop Rite	$22.33
Riverfront Plaza	NYC	30%	NJ	New York-Newark-Jersey City	129	39	92.8%			70	ShopRite	$26.94
			NJ		572	333	96.4%	97.8%	0	258
101 7th Avenue			NY	New York-Newark-Jersey City	57	57	0.0%				-	$0.00
1175 Third Avenue			NY	New York-Newark-Jersey City	25	25	100.0%			25	The Food Emporium	$116.62
1225-1239 Second Ave			NY	New York-Newark-Jersey City	18	18	100.0%				CVS	$125.79
90 - 30 Metropolitan Avenue			NY	New York-Newark-Jersey City	60	60	93.9%			11	Trader Joe's, Staples, Michaels	$34.27
Broadway Plaza			NY	New York-Newark-Jersey City	147	147	91.8%			18	Aldi, Bob's Discount Furniture, TJ Maxx, F21 Red, Blink	$39.78
				Fitness
Clocktower Plaza Shopping Ctr			NY	New York-Newark-Jersey City	79	79	100.0%			63	Stop & Shop	$47.53
											Trader Joe's, Nordstrom Rack, Saks Fifth Avenue,
The Gallery at Westbury Plaza			NY	New York-Newark-Jersey City	312	312	98.5%			13	Bloomingdale's, The Container Store, HomeGoods, Old	$48.65
				Navy, Gap Outlet, Bassett Home Furnishings, Famous

											Footwear
Hewlett Crossing I & II			NY	New York-Newark-Jersey City	53	53	98.7%				Petco	$39.81
Rivertowns Square			NY	New York-Newark-Jersey City	116	116	58.4%			18	Ulta, The Learning Experience	$37.00
The Point at Garden City Park			NY	New York-Newark-Jersey City	105	105	100.0%			52	King Kullen, Ace Hardware	$30.12
Lake Grove Commons	GRI	40%	NY	New York-Newark-Jersey City	141	57	100.0%			48	Whole Foods, LA Fitness, PETCO	$35.24
Westbury Plaza			NY	New York-Newark-Jersey City	394	394	97.4%			110	WalMart, Costco, Marshalls, Total Wine and More, Olive	$25.47
				Garden

			NY		1509	1424	90.9%	90.4%	0	357
Cherry Grove			OH	Cincinnati	196	196	96.9%			66	Kroger, Shoe Carnival, TJ Maxx, Tuesday Morning	$12.15
East Pointe			OH	Columbus	109	109	98.7%			76	Kroger	$10.64
Hyde Park			OH	Cincinnati	401	401	98.0%			169	Kroger, Remke Markets, Walgreens, Jo-Ann Fabrics, Ace	$16.54
				Hardware, Staples, Marshalls

Kroger New Albany Center	M	50%	OH	Columbus	93	93	100.0%			65	Kroger	$13.05
Northgate Plaza (Maxtown Road)			OH	Columbus	114	114	100.0%		90	91	Kroger, (Home Depot)	$11.72
Red Bank Village			OH	Cincinnati	176	176	99.2%			152	WalMart	$7.46
Regency Commons			OH	Cincinnati	34	34	74.3%					$26.27
West Chester Plaza			OH	Cincinnati	88	88	100.0%			67	Kroger	$10.13

Portfolio Summary Report By State

June 30, 2020

(GLA in thousands)

						JVs at 100%	REG's pro-rata	REG's pro-rata	REG's pro-rata share
							share	share
										Retailer-	Grocery
			REG						% Leased - Retail	Owned	Anchor
	Property Name	JV	%	State	CBSA	GLA	GLA	% Leased	Operating Properties	GLA	GLA	Major Tenants (1)	Avg. Base Rent PSF
				OH		1,211	1,211	97.9%	97.9%	90	685
	Corvallis Market Center			OR	Corvallis	85	85	90.9%			12	Trader Joe's, TJ Maxx, Michael's	$21.75
	Greenway Town Center	GRI	40%	OR	Portland-Vancouver-Hillsboro	93	37	100.0%			38	Whole Foods, Rite Aid, Dollar Tree	$15.97
	Murrayhill Marketplace			OR	Portland-Vancouver-Hillsboro	150	150	89.1%			41	Safeway, Planet Fitness	$19.63
	Northgate Marketplace			OR	Medford	81	81	93.2%			13	Trader Joe's, REI, PETCO	$22.95
	Northgate Marketplace Ph II			OR	Medford	177	177	97.4%				Dick's Sporting Goods, Homegoods, Marshalls	$17.02
	Sherwood Crossroads			OR	Portland-Vancouver-Hillsboro	88	88	98.4%			55	Safeway	$11.77
	Tanasbourne Market			OR	Portland-Vancouver-Hillsboro	71	71	100.0%			57	Whole Foods	$30.14
	Walker Center			OR	Portland-Vancouver-Hillsboro	90	90	98.4%				Bed Bath & Beyond	$21.75
				OR		835	779	95.6%	95.2%	0	215
	Allen Street Shopping Ctr	GRI	40%	PA	Allentown-Bethlehem-Easton	46	18	100.0%			22	Ahart's Market	$15.98
	City Avenue Shopping Center	GRI	40%	PA	Philadelphia-Camden-Wilmington	162	65	88.0%				Ross Dress for Less, TJ Maxx, Dollar Tree	$20.55
	Gateway Shopping Center			PA	Philadelphia-Camden-Wilmington	221	221	96.7%			11	Trader Joe's, Staples, TJ Maxx, Jo-Ann Fabrics	$32.60
	Hershey			PA	Other	6	6	100.0%					$28.00
	Lower Nazareth Commons			PA	Allentown-Bethlehem-Easton	90	90	100.0%		244	111	(Wegmans), (Target), Burlington Coat Factory, PETCO	$26.35
	Mercer Square Shopping Center	GRI	40%	PA	Philadelphia-Camden-Wilmington	91	37	98.0%			51	Weis Markets	$24.24
	Newtown Square Shopping Center	GRI	40%	PA	Philadelphia-Camden-Wilmington	143	57	85.6%			56	Acme Markets, Michael's	$18.65
	Stefko Boulevard Shopping Center	GRI	40%	PA	Allentown-Bethlehem-Easton	134	54	95.1%			73	Valley Farm Market, Dollar Tree, Retro Fitness	$10.72
	Warwick Square Shopping Center	GRI	40%	PA	Philadelphia-Camden-Wilmington	93	37	44.3%			51	-	$28.20
				PA		987	585	89.1%	91.9%	244	375
(2)	Indigo Square			SC	Charleston-North Charleston	51	51	100.0%			22	Publix	$29.28
	Merchants Village	GRI	40%	SC	Charleston-North Charleston	80	32	100.0%			38	Publix	$17.16
				SC		131	83	100.0%	100.0%	0	59
	Harpeth Village Fieldstone			TN	Nashville-Davidson--Murfreesboro--Franklin	70	70	100.0%			55	Publix	$15.84
	Northlake Village			TN	Nashville-Davidson--Murfreesboro--Franklin	138	138	87.7%			75	Kroger	$13.96
	Peartree Village			TN	Nashville-Davidson--Murfreesboro--Franklin	110	110	100.0%			84	Kroger, PETCO	$19.91
				TN		318	318	94.6%	94.6%	0	214
	Alden Bridge	USAA	20%	TX	Houston-Woodlands-Sugar Land	139	28	96.8%			68	Kroger, Walgreens	$20.85
	Bethany Park Place	USAA	20%	TX	Dallas-FortWorth-Arlington	99	20	96.6%			83	Kroger	$11.62
	CityLine Market			TX	Dallas-FortWorth-Arlington	81	81	98.0%			40	Whole Foods	$28.01
	CityLine Market Phase II			TX	Dallas-FortWorth-Arlington	22	22	93.8%				CVS	$26.27
	Cochran's Crossing			TX	Houston-Woodlands-Sugar Land	138	138	94.3%			63	Kroger, CVS	$19.34
	Hancock			TX	Austin-Round Rock	410	410	54.2%			90	H.E.B, Twin Liquors, PETCO, 24 Hour Fitness, Firestone	$20.22
					Complete Auto Care

	Hickory Creek Plaza			TX	Dallas-FortWorth-Arlington	28	28	95.4%		81	81	(Kroger)	$27.99
	Hillcrest Village			TX	Dallas-FortWorth-Arlington	15	15	100.0%					$47.73
	Indian Springs Center			TX	Houston-Woodlands-Sugar Land	137	137	96.7%			79	H.E.B.	$24.57
	Keller Town Center			TX	Dallas-FortWorth-Arlington	120	120	96.3%			64	Tom Thumb	$16.61
	Lebanon/Legacy Center			TX	Dallas-FortWorth-Arlington	56	56	78.1%		63	63	(Wal-Mart)	$28.05
	Market at Preston Forest			TX	Dallas-FortWorth-Arlington	96	96	98.9%			64	Tom Thumb	$21.00
	Market at Round Rock			TX	Austin-Round Rock	123	123	96.7%			30	Sprout's Markets, Office Depot, Tuesday Morning	$18.90
	Market at Springwoods Village	M	53%	TX	Houston-Woodlands-Sugar Land	167	167	94.3%			100	Kroger	$16.20
	Mockingbird Common			TX	Dallas-FortWorth-Arlington	120	120	93.4%			49	Tom Thumb, Ogle School of Hair Design	$18.29
	North Hills			TX	Austin-Round Rock	145	145	92.5%			60	H.E.B.	$23.41
	Panther Creek			TX	Houston-Woodlands-Sugar Land	166	166	94.7%			66	CVS, The Woodlands Childrens Museum, Gold's Gym	$22.73

	Prestonbrook			TX	Dallas-FortWorth-Arlington	92	92	98.5%			64	Kroger	$14.80
(2)	Preston Oaks			TX	Dallas-FortWorth-Arlington	104	104	88.9%			30	H.E.B. , Central Market, Talbots	$34.75
	Shiloh Springs	USAA	20%	TX	Dallas-FortWorth-Arlington	110	22	89.8%			61	Kroger	$14.39
	Shops at Mira Vista			TX	Austin-Round Rock	68	68	100.0%			15	Trader Joe's, Champions Westlake Gymnastics & Cheer	$23.74
	Southpark at Cinco Ranch			TX	Houston-Woodlands-Sugar Land	265	265	98.2%			101	Kroger, Academy Sports, PETCO, Spec's Liquor and Finer	$13.51
					Foods

	Sterling Ridge			TX	Houston-Woodlands-Sugar Land	129	129	97.2%			63	Kroger,CVS	$21.11
	Sweetwater Plaza	C	20%	TX	Houston-Woodlands-Sugar Land	134	27	97.2%			65	Kroger, Walgreens	$18.14
	Tech Ridge Center			TX	Austin-Round Rock	215	215	88.7%			84	H.E.B., Pinstack	$23.02
(2) The Village at Riverstone			TX	Houston-Woodlands-Sugar Land	165	165	96.9%			100	Kroger	$16.85
	Weslayan Plaza East	GRI	40%	TX	Houston-Woodlands-Sugar Land	169	68	99.1%				Berings, Ross Dress for Less, Michaels, The Next Level	$20.36
				Fitness, Spec's Liquor, Bike Barn
	Weslayan Plaza West	GRI	40%	TX	Houston-Woodlands-Sugar Land	186	74	97.6%			52	Randalls Food, Walgreens, PETCO, Jo-Ann's, Tuesday	$20.34
			Morning, Homegoods

	Westwood Village			TX	Houston-Woodlands-Sugar Land	187	187	99.2%		127		(Target), Gold's Gym, PetSmart, Office Max, Ross Dress	$20.05
					For Less, TJ Maxx
	Woodway Collection	GRI	40%	TX	Houston-Woodlands-Sugar Land	97	39	98.5%			45	Whole Foods	$30.66
				TX		3,982	3,326	91.3%	90.3%	271	1,682

Portfolio Summary Report By State

June 30, 2020

(GLA in thousands)

					JVs at 100%	REG's pro-rata	REG's pro-rata	REG's pro-rata share
						share	share
									Retailer-	Grocery
		REG						% Leased - Retail	Owned	Anchor
Property Name	JV	%	State	CBSA	GLA	GLA	% Leased	Operating Properties	GLA	GLA	Major Tenants (1)	Avg. Base Rent PSF
Ashburn Farm Village Center	GRI	40%	VA	Washington-Arlington-Alexandri	92	37	100.0%			27	Patel Brothers, The Shop Gym	$16.18
Belmont Chase			VA	Washington-Arlington-Alexandri	91	91	100.0%			40	Whole Foods, Cooper's Hawk Winery	$31.57
Braemar Village Center	RC	25%	VA	Washington-Arlington-Alexandri	104	26	98.1%			58	Safeway	$22.92
(2) Carytown Exchange	M	39%	VA	Richmond	116	46	49.5%			38	Publix, CVS	$18.40
Centre Ridge Marketplace	GRI	40%	VA	Washington-Arlington-Alexandri	107	43	98.9%			55	United States Coast Guard Ex	$19.70

Point 50			VA	Washington-Arlington-Alexandri	48	48	86.8%			30	Whole Foods	$29.04
Festival at Manchester Lakes	GRI	40%	VA	Washington-Arlington-Alexandri	169	67	82.6%			65	Grocer, Homesense	$29.53
Fox Mill Shopping Center	GRI	40%	VA	Washington-Arlington-Alexandri	103	41	98.6%			50	Giant	$26.12
Greenbriar Town Center	GRI	40%	VA	Washington-Arlington-Alexandri	340	136	98.7%			62	Giant, Bob's Discount Furniture, CVS,Ross Dress for Less,	$27.83
		Marshalls, Planet Fitness

Hanover Village Shopping Center	GRI	40%	VA	Richmond	90	36	95.6%			18	Aldi, Tractor Supply Company, Harbor Freight Tools,	$9.10
		Tuesday Morning
Kamp Washington Shopping Center	GRI	40%	VA	Washington-Arlington-Alexandri	71	29	71.3%			20	-	$40.81
Kings Park Shopping Center	GRI	40%	VA	Washington-Arlington-Alexandri	96	39	100.0%			51	Giant, CVS	$31.92
Lorton Station Marketplace	C	20%	VA	Washington-Arlington-Alexandri	132	26	90.5%			63	Shoppers Food Warehouse	$24.30
											Whole Foods, Crate & Barrel, The Container Store, Barnes
Market Common Clarendon			VA	Washington-Arlington-Alexandri	421	421	72.7%			34	& Noble, Pottery Barn, Ethan Allen, The Cheesecake	$35.43
											Factory, Jumping Joeys, Equinox
Saratoga Shopping Center	GRI	40%	VA	Washington-Arlington-Alexandri	113	45	98.8%			56	Giant	$21.66
Shops at County Center			VA	Washington-Arlington-Alexandri	97	97	91.4%			52	Harris Teeter	$20.07
The Field at Commonwealth			VA	Washington-Arlington-Alexandri	167	167	99.0%			122	Wegmans	$21.90
Village Center at Dulles	C	20%	VA	Washington-Arlington-Alexandri	301	60	97.4%			48	Giant, Gold's Gym, CVS, Advance Auto Parts, Chuck E.	$27.47
		Cheese, HomeGoods, Goodwill, Furniture Max
Village Shopping Center	GRI	40%	VA	Richmond	116	46	87.4%			45	Publix, CVS	$24.78
Willston Centre I	GRI	40%	VA	Washington-Arlington-Alexandri	105	42	91.5%				CVS, Fashion K City	$27.01
Willston Centre II	GRI	40%	VA	Washington-Arlington-Alexandri	136	54	100.0%		141	59	Safeway, (Target)	$26.57
			VA		3,017	1,598	90.1%	89.0%	141	994
6401 Roosevelt			WA	Seattle-Tacoma-Bellevue	8	8	69.0%					$18.58
Aurora Marketplace	GRI	40%	WA	Seattle-Tacoma-Bellevue	107	43	98.8%			49	Safeway, TJ Maxx	$16.88
Ballard Blocks I	O	50%	WA	Seattle-Tacoma-Bellevue	132	66	98.2%			12	Trader Joe's, LA Fitness, Ross Dress for Less	$26.05
(2)	O	50%	WA	Seattle-Tacoma-Bellevue	115	57	94.8%			25	PCC Community Markets, Bright Horizons, West	$33.47
Ballard Blocks II			Marine,Trufusion, Kaiser Permanente, Prokarma
Broadway Market	C	20%	WA	Seattle-Tacoma-Bellevue	140	28	97.9%			64	Quality Food Centers, Gold's Gym	$29.45
Cascade Plaza	C	20%	WA	Seattle-Tacoma-Bellevue	206	41	95.0%			49	Safeway, Jo-Ann Fabrics, Ross Dress For Less, Big Lots,	$12.28
		Fplanet Fitness, Big 5 Sporting Goods, Dollar Tree
Eastgate Plaza	GRI	40%	WA	Seattle-Tacoma-Bellevue	85	34	100.0%			29	Safeway, Rite Aid	$29.12
Grand Ridge Plaza			WA	Seattle-Tacoma-Bellevue	331	331	100.0%			45	Safeway, Regal Cinemas, Dick's Sporting Goods, Marshalls,	$25.30
				Ulta , Bevmo!
Inglewood Plaza			WA	Seattle-Tacoma-Bellevue	17	17	80.3%					$42.14
Klahanie Shopping Center			WA	Seattle-Tacoma-Bellevue	67	67	98.4%		40	40	(QFC)	$34.91
Melrose Market			WA	Seattle-Tacoma-Bellevue	21	21	85.3%					$33.79
Overlake Fashion Plaza	GRI	40%	WA	Seattle-Tacoma-Bellevue	93	37	93.6%		230	13	Marshalls, Bevmo!, Grocer	$27.90
Pine Lake Village			WA	Seattle-Tacoma-Bellevue	103	103	95.7%			41	Quality Food Centers, Rite Aid	$24.49
Roosevelt Square			WA	Seattle-Tacoma-Bellevue	150	150	96.0%			50	Whole Foods, Bartell, Guitar Center, LA Fitness	$26.16
Sammamish-Highlands			WA	Seattle-Tacoma-Bellevue	101	101	98.3%		55	67	Trader Joe's, (Safeway), Bartell Drugs	$35.06
Southcenter			WA	Seattle-Tacoma-Bellevue	58	58	100.0%		112		(Target)	$31.34
			WA		1,735	1,163	97.0%	97.2%	437	484

Regency Centers Total					52,181	42,449	93.9%	94.5%	4,088	16,598		$22.90

(1) Major Tenants are the grocery anchor and any tenant 10,000 square feet or greater. Retailers in parenthesis are a shadow anchor and not a part of the owned property.

(2) Non-Same Property.

Note: In-process developments are bolded and italicized.

Co-investmentPartnership with Oregon

GRI:	Co-investment Partnership with GRI

Co-investmentPartnership with Minority Partner

NYC:	Co-investment Partnership with NYCRF

Other, single property co-investment Partnerships

RC:	Co-investment Partnership with CalSTRS
RLP:	Co-investment Partnership with Rider
USAA:	Co-investment Partnership with USAA

Components of Net Asset Value (NAV)
As of June 30, 2020
(unaudited and in thousands)

Real Estate - Operating
Operating Portfolio NOI excluding Straight-line Rent and Above/Below Market Rent - Current Quarter
Wholly Owned NOI (page 5)	$	150,923
Share of JV NOI (page 7)	$	19,702
Less: Noncontrolling Interests (page 7)	$	(1,337)
Base Rent from leases signed but not yet rent-paying - Current Quarter
Retail Operating Properties including redevelopments	$	3,127


Real Estate - In-Process Ground Up Developments
In-Process Development(1)
REG's Estimated Net GAAP Project Costs2 (page 17, footnote)	$	41,963
% of Costs Incurred (page 17)		72%
Construction in Progress	$	30,213
NOI from In-Process Development - Current Quarter
Proforma Stabilized NOI from current quarter completions	$	-
In-place NOI from In-Process Developments (In Construction)	$	84


Fee Income
Third-Party Management Fees and Commissions - Current Quarter (page 5)	$	6,126
Less: Share of JV's Total fee income - Current Quarter (page 7)	$	(266)


Other Assets
Estimated Market Value of Undeveloped Land
Land held for sale or future development	$	51,659
Outparcels at retail operating properties		14,546
Total Estimated Market Value of Undeveloped Land	$	66,205
Wholly Owned Assets (page 3)
Cash and Cash Equivalents	$	587,358
Tenant and other receivables, excluding Straight line rent receivables	$	91,720
Other Assets, excluding Goodwill	$	85,020
Share of JV Assets (page 6)
Cash and Cash Equivalents	$	20,942
Tenant and other receivables, excluding Straight line rent receivables	$	8,232
Other Assets	$	19,420
Less: Noncontrolling Interests (page 6)	$	(3,448)


Liabilities
Wholly Owned Debt Outstanding (page 12)
Mortgage Loans	$	484,990
Unsecured Public/Private Notes		3,575,000
Unsecured Credit Facilities		265,000
Total Wholly Owned Debt Outstanding	$	4,324,990
Share of JV Debt Outstanding (page 14)	$	543,248
Other Wholly Owned Liabilities (page 3)
Accounts Payable and Other Liabilities	$	223,990
Tenants' Security and Escrow Deposits	$	50,251
Other Share of JV Accounts Liabilities (page 6)
Accounts Payable and Other Liabilities	$	27,633
Tenants' Security and Escrow Deposits	$	5,241
Less: Noncontrolling Interests (page 6)	$	(41,798)


Common Shares and Equivalents Outstanding
Common Shares and Equivalents Issued and Outstanding (page 1)		170,430

(1) Includes Carytown PH I, The Village at Hunter's Lake

(2) Includes additional interest and overhead capitalization.

Supplemental Details of Lease Income (Pro Rata)

COVID-19 Disclosure

For the Three Months Ended June 30, 2020

(unaudited and in thousands)

				Total Billings/Deferrals and Other Revenue
				For the three months ended June 30, 2020
					(in thousands)
				Collected and Other	Accrued	Accrued & Deferred (4)
				Reserved	Reserved & Deferred (4)
	Total Pro Rata	$300,000	$293,121
Composition of Lease Income		$3,272



Base Rent	$	218,220				$36,422
Recoveries from Tenants		69,688
	$250,000
Percentage Rent, Termination Fees, and Other Lease Income		5,213		$10,340
Uncollectible Lease Income		(40,951)				$34,024
Non-Cash Revenues (1)		(3,822)

Total Lease Income (see pages 5 & 7)	$	248,348	$200,000
Collected Billings and Other Revenue

Billed Base Rent and Recoveries & Other Revenue (2)	$	209,063
Uncollected Billings/Deferrals and Reserves			$150,000				Total
Base Rent and Recoveries - Accrued		44,364
						Recognized
Base Rent and Recoveries - Reserved (3)		39,694
						Revenue
Total Billings/Deferrals and Other Revenue	$	293,121	$100,000	$209,063		86%
Other Components of Lease Income

Uncollectible Lease Income (2)		(40,951)
Non-Cash Revenues (1)		(3,822)
Total Lease Income (see pages 5 & 7)	$	248,348	$50,000

Three Months Ended June 30, 2020

Includes pro rata share of Straight line rent on lease income, net of uncollectible amounts, and Above/below market rent amortization for the three months ended June 30, 2020.
Includes uncollectible lease income of $1.3 million related to unbilled recoveries. Unbilled recoveries are included in Other Revenues and represent unbilled amounts for quarterly, semi-annual and annual payers of property expenses.
Represents billed Base Rent and Recoveries deemed uncollectible in Q2 2020.
Contractual deferrals of rent and recoveries billed and recognized in Q2 2020. Includes deferral agreements executed through July 31, 2020.

Supplemental Details of Tenant and Other Receivables (Pro Rata)

COVID-19 Disclosure

As of June 30, 2020

		(in thousands)
	Total Pro Rata
Tenant receivables	$	125,754
Less: Uncollectible tenant receivables		(57,307)
Net tenant receivables	$	68,447
Straight line rent receivables		137,097
Less: Uncollectible straight line rent receivables		(28,310)
Net Straight line rent receivables	$	108,787
Other receivables (1)		30,907
Total tenant and other receivables (see pages 3 & 6)	$	208,141

Other receivables include construction receivables, insurance receivables and amounts due from real estate partnerships for Management, transaction and other fee income.

Supplemental Details of Same Property NOI (Pro-Rata)

COVID-19 Disclosure

For the Three Months Ended June 30, 2020

(unaudited and in thousands)

Same Property NOI
- change
Same Property NOI without Termination Fees
- change
Same Property NOI without Termination Fees or Redevelopments
- change

Same Property NOI excluding Accrued Lease Income Not Collected Accrued Lease Income Not Collected

Same Property NOI without Termination Fees and Accrued Lease Income Not Collected

- change
See page 8

$	162,327

	-19.5%
$	160,340

	-20.1%
$	147,628

	-19.7%
$	41,513
$	118,827

	-43.6%

Glossary of Terms

June 30, 2020

Core Operating Earnings: An additional performance measure used by Regency as the computation of NAREIT FFO includes certain non-comparable items that affect the Company's period-over-period performance. Core Operating Earnings excludes from NAREIT FFO: (i) transaction related income or expenses (ii) gains or losses from the early extinguishment of debt; (iii) certain non-cash components of earnings derived from above and below market rent amortization, straight-line rents, and amortization of mark-to-market of debt adjustments; and (iv) other amounts as they occur. The Company provides a reconciliation of Net Income Attributable to Common Stockholders to NAREIT FFO to Core Operating Earnings.

Development Completion: A Property in Development is deemed complete upon the earliest of: (i) 90% of total estimated net development costs have been incurred and percent leased equals or exceeds 95%, or (ii) the property features at least two years of anchor operations, or (iii) three years have passed since the start of construction. Once deemed complete, the property is termed a Retail Operating Property the following calendar year.

Fixed Charge Coverage Ratio: Operating EBITDAre divided by the sum of the gross interest and scheduled mortgage principal paid to our lenders.

NAREIT Funds From Operations (NAREIT FFO): NAREIT FFO is a commonly used measure of REIT performance, which the National Association of Real Estate Investment Trusts ("NAREIT") defines as net income, computed in accordance with GAAP, excluding gains on sales and impairments of real estate, net of tax, plus depreciation and amortization, and after adjustments for unconsolidated partnerships and joint ventures. Regency computes NAREIT FFO for all periods presented in accordance with NAREIT's definition. Many companies use different depreciable lives and methods, and real estate values historically fluctuate with market conditions. Since NAREIT FFO excludes depreciation and amortization and gains on sale and impairments of real estate, it provides a performance measure that, when compared year over year, reflects the impact on operations from trends in occupancy rates, rental rates, operating costs, acquisition and development activities, and financing costs. This provides a perspective of the Company's financial performance not immediately apparent from net income determined in accordance with GAAP. Thus, NAREIT FFO is a supplemental non-GAAP financial measure of the Company's operating performance, which does not represent cash generated from operating activities in accordance with GAAP; and, therefore, should not be considered a substitute measure of cash flows from operations. The Company provides a reconciliation of Net Income Attributable to Common Stockholders to NAREIT FFO.

Net Operating Income (NOI):The sum of base rent, percentage rent, recoveries from tenants, other lease income, and other property income, less operating and maintenance expenses, real estate taxes, ground rent, and uncollectible lease income. NOI excludes straight-line rental income and expense, above and below market rent and ground rent amortization, tenant lease inducement amortization, and other fees. The Company also provides disclosure of NOI excluding termination fees, which excludes both termination fee income and expenses.

Non-SameProperty: During either calendar year period being compared, a property acquired, sold, a Property in Development, a Development Completion, or a property under, or being positioned for, significant redevelopment that distorts comparability between periods. Non-retail properties and corporate activities, including the captive insurance program, are part of Non-Same Property. Please refer to the footnote on Property Summary Report for Non-Same Property detail.

Operating EBITDAre: NAREIT EBITDAre is a measure of REIT performance, which the NAREIT defines as net income, computed in accordance with GAAP, excluding (i) interest expense; (ii) income tax expense; (iii) depreciation and amortization;

gains on sales of real estate; (v) impairments of real estate; and (vi) adjustments to reflect the Company's share of unconsolidated partnerships and joint ventures. Operating EBITDAre excludes from NAREIT EBITDAre certain non-cash components of earnings derived from above and below market rent amortization and straight-line rents. The Company provides a reconciliation of Net Income to NAREIT EBITDAre to Operating EBITDAre.

Property In Development: Properties in various stages of ground-up development.

Property In Redevelopment:Retail Operating Properties under redevelopment or being positioned for redevelopment. Unless otherwise indicated, a Property in Redevelopment is included in the Same Property pool.

Retail Operating Property: Any retail property not termed a Property In Development. A retail property is any property where the majority of the income is generated from retail uses.

Same Property: Retail Operating Properties that were owned and operated for the entirety of both calendar year periods being compared. This term excludes Property in Development, prior year Development Completions, and Non-Same Properties. Property in Redevelopment is included unless otherwise indicated.

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Regency Centers Corporation published this content on 03 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 August 2020 22:01:16 UTC

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