10-K – 2026-02-13 – reg-20251231.htm

The Company's business is investing in retail shopping centers through direct ownership or partnership interests. The Company actively manages its portfolio of retail shopping centers and may from time to time make decisions to sell lower performing properties or developments not meeting its long-term investment objectives. The proceeds from sales are generally reinvested into higher quality retail shopping centers, through acquisitions, new developments, or redevelopment of existing centers, which management believes will generate sustainable revenue growth and attractive returns. It is management's intent that all retail shopping centers will be owned or developed for investment purposes; however, the Company may decide to sell all or a portion of a development upon completion. The Company's revenues and net income are generated from the operation of its investment portfolio. The Company also earns fees for services provided to manage and lease retail shopping centers owned through joint ventures.
The Company's portfolio is located throughout the United States. Management does not distinguish or group its operations on a geographical basis for purposes of allocating resources or capital. The Company’s chief operating decision maker ("CODM") evaluates operating and financial performance for each property on an individual property level; therefore, the Company defines an operating segment as its individual properties. The individual properties have been aggregated into one reportable segment based upon their similarities with regard to both the nature and economics of the centers, tenants and operational processes, as well as long-term average financial performance. For further details on segment information, refer to Note 15 in the consolidated financial statements.

(m) Investment Risk Concentrations

No single tenant comprised 10% or more of our aggregate annualized base rent ("ABR"). As of December 31, 2025, the Company had three geographic concentrations that individually accounted for at least 10.0% of its aggregate ABR. Real estate properties located in California, Florida and New York-Newark-Jersey City core-based statistical area accounted for 24.8 % , 19.7 % , and 12.6 % of AB R, respectively. As the result, this geographic concentration of our portfolio makes it potentially more susceptible to adverse weather, natural disasters or economic events that impact these locations. None of the shopping centers are located outside the United States.

(n) Fair Value of Assets and Liabilities

ASC 820, Fair Value Measurements and Disclosures, or ASC 820, defines fair value, establishes a framework for measuring fair value in accordance with GAAP and expands disclosures about fair value measurements. ASC 820 emphasizes that fair value is intended to be a market-based measurement, as opposed to a transaction-specific measurement. Fair value is defined by ASC 820 as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Therefore, a fair value measurement is determined based on the assumptions that market participants would use in pricing the asset or liability. As a basis for considering market participant assumptions in fair value measurements, the Company uses a fair value hierarchy that distinguishes between market participant assumptions based on market data obtained from independent sources (observable inputs that are classified within Levels 1 and 2 of the hierarchy) and the Company's own assumptions about market participant assumptions (unobservable inputs classified within Level 3 of the hierarchy). The three levels of inputs used to measure fair value are as follows:
• Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. An active market is defined as a market in which transactions for the assets or liabilities occur with sufficient frequency and volume to provide pricing information on an ongoing basis.

• Level 2 - Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly.

• Level 3 - Unobservable inputs for the asset or liability, which are typically based on the Company's own assumptions, as there is little, if any, related market activity.

The Company also re-measures nonfinancial assets and nonfinancial liabilities, initially measured at fair value in a business combination or other new basis event, at fair value in subsequent periods if a re-measurement event occurs.

 

92

REGENCY CENTERS CORPORATION AND REGENCY CENTERS, L.P.
Notes to Consolidated Financial Statements
December 31, 2025
 

 
 
(o)	Recent Accounting Pronouncements
The following table provides a brief description of recent accounting pronouncements and the expected impact on our financial statements:

Standard

Description

Effective date

Effect on the financial statements or other significant matters

Recently issued:

 

ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses
 
ASU 2025-01, Income Statement - Reporting Comprehensive, Income -Expense Disaggregation Disclosures (Subtopic 220-40), Clarifying the Effective Date
 

 

ASU 2024-03 requires public business entities to provide additional disclosures that disaggregate certain income statement expense captions into specified categories. The ASU does not impact the presentation of expenses on the face of the income statement but requires additional footnote disclosures to provide users of the financial statements with greater insight into the nature and composition of reported expenses.

 

Fiscal years beginning January 1, 2027, and interim periods for fiscal years beginning January 1, 2028; Early adoption permitted.

 

The Company is assessing the impact this ASU will have on the Company’s financial statement disclosures. While the adoption of this standard is not expected to have a material impact on the financial position or results of operations, it will require enhanced footnote disclosures related to the disaggregation of income statement expenses.

 

ASU 2025-03, Business Combinations (Topic 805) and Consolidation (Topic 810): Determining the Accounting Acquirer in the Acquisition of a Variable Interest Entity
 

 

ASU 2025-03 clarifies the guidance in determining the accounting acquirer in a business combination effected primarily by exchanging equity interests when the acquiree is a VIE that meets the definition of a business.

 

January 1, 2027; Early adoption is permitted.

 

The Company is currently evaluating the impact of this ASU, but the adoption will not have a material effect on the Company’s financial position or results of operations.

 

ASU 2025-06, Intangibles—Goodwill and Other— Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software
 

 

ASU 2025-06 amends certain aspects of the accounting for and disclosure of software costs and makes targeted improvements for accounting for internally developed software to be sold or marketed externally.

 

January 1, 2028; Early adoption is permitted.

 

The Company is currently evaluating the impact of this ASU, but the adoption will not have a material effect on the Company’s financial position or results of operations.

 

93

REGENCY CENTERS CORPORATION AND REGENCY CENTERS, L.P.
Notes to Consolidated Financial Statements
December 31, 2025
 

2. Real Estate Investments

Acquisitions
The following tables detail the properties acquired for the periods set forth below:
 

(in thousands)

December 31, 2025

 

Date
Purchased

Property Name

City/State

Property
Type

Regency's Ownership

Purchase
Price (1)

 

Debt Assumed, Net of Premiums (1)

 

Intangible
Assets  (1)

 

Intangible Liabilities (1)

 

1/1/2025

Putnam Plaza (2)

Carmel Hamlet, NY

Operating

100 %

$

31,000

 

 

16,749

 

 

4,308

 

 

460

 

1/10/2025

Orange Meadows

Orange, CT

Outparcel

100 %

 

4,200

 

 

—

 

 

354

 

 

299

 

3/14/2025

Brentwood Place

Nashville, TN

Operating

100 %

 

118,500

 

 

40,060

 

 

9,371

 

 

18,295

 

7/23/2025

RMV Portfolio (3 )

Various, CA

Operating

100 %

 

357,000

 

 

126,860

 

 

45,356

 

 

2,224

 

8/1/2025

Chestnut Ridge Shopping Center (4)

Montvale, NJ

Operating

100 %

 

18,300

 

 

—

 

 

3,070

 

 

458

 

8/1/2025

Baybrook East (4)

Webster, TX

Operating

100 %

 

29,097

 

 

11,778

 

 

2,978

 

 

991

 

8/1/2025

Baybrook East Phase II

Webster, TX

Redevelopment

100 %

 

3,597

 

 

—

 

 

—

 

 

—

 

9/15/2025

The Villages at Seven Pines

Jacksonville, FL

Development

100 %

 

8,466

 

 

—

 

 

—

 

 

—

 

9/19/2025

Ellis Village Center

Tracy, CA

Development

100 %

 

1,350

 

 

—

 

 

—

 

 

—

 

10/1/2025

GRI DIK Portfolio (5)

Various

Operating

100 %

 

113,900

 

 

9,958

 

 

12,881

 

 

2,985

 

11/4/2025

Oak Valley Village

Beaumont, CA

Development

75 %

 

9,256

 

 

—

 

 

—

 

 

—

 

12/17/2025

Lone Tree Village

Lone Tree, CO

Development

100 %

 

4,153

 

 

—

 

 

—

 

 

—

 

Total property acquisitions

 

 

 

$

698,819

 

 

205,405

 

 

78,318

 

 

25,712

 

(1) Amounts for purchase price and allocation are reflected at 100 %.

(2) This property was held within a single property unconsolidated real estate partnership, in which the Company held a 66.7 % ownership interest. Effective January 1, 2025, the Company purchased its partner's remaining 33.3 % ownership interest. Upon acquisition, this property was consolidated into Regency's financial statements.

(3) In July 2025, the Company completed a $ 357 million acquisition of five operating properties, all located in Orange County, California. The purchase price was funded through a combination of units of the Operating Partnership issued at $ 72 per unit, and the assumption of $ 150 million of secured mortgage debt with a weighted average interest rate of 4.2 % and a weighted average remaining term of approximately 12 years.

(4) These properties were held within single property unconsolidated real estate partnerships, in which the Company held a 50.0 % ownership interest in each. Effective August 1, 2025, the Company purchased each of its partners' remaining 50.0 % ownership interests. Upon acquisition, these properties were consolidated into Regency’s financial statements.

(5) In October 2025, an unconsolidated real estate investment partnership in which the Company holds an interest completed a partial distribution-in-kind (“DIK”) transaction involving a total of eleven operating properties. The Company received five of these properties, which had an aggregate fair value of $ 113.9 million, and assumed an existing fixed rate mortgage loan on one property of $ 10 million, which was repaid in December 2025. The remaining six properties were distributed to the other partner.

 

(in thousands)

December 31, 2024

 

Date
Purchased

Property Name

City/State

Property
Type

Regency's Ownership

Purchase
Price (1)

 

Debt Assumed, Net of Premiums (1)

 

Intangible
Assets  (1)

 

Intangible Liabilities (1)

 

2/23/2024

The Shops at Stone Bridge

Cheshire, CT

Development

100 %

$

8,000

 

 

—

 

 

—

 

 

—

 

5/3/2024

Compo Acres North Shopping Center

Westport, CT

Operating

100 %

 

45,500

 

 

—

 

 

5,360

 

 

2,175

 

7/16/2024

Jordan Ranch Market

Houston, TX

Development

50 %

 

15,784

 

 

—

 

 

—

 

 

—

 

8/21/2024

Oakley Shops at Laurel Fields

Oakley, CA

Development

100 %

 

2,120

 

 

—

 

 

—

 

 

—

 

Total property acquisitions

 

 

 

$

71,404

 

 

—

 

 

5,360

 

 

2,175

 

(1) Amounts for purchase price and allocation are reflected at 100 %.

 

94

REGENCY CENTERS CORPORATION AND REGENCY CENTERS, L.P.
Notes to Consolidated Financial Statements
December 31, 2025
 

3. Property Dispositions

The following table provides a summary of consolidated operating properties and land parcels sold during the periods set forth below:
 

 

 

Year ended December 31,

 

(in thousands, except number sold data)

 

2025

 

 

2024

 

 

2023

 

Net proceeds from sale of real estate investments

 

$

124,992

 

 

 

108,615

 

 

 

11,167

 

Gain on sale of real estate, net of tax

 

$

24,464

 

 

 

34,162

 

 

 

661

 

Provision for impairment of real estate sold

 

$

4,606

 

 

 

1,330

 

 

 

—

 

Number of operating properties sold

 

 

7

 

 

 

6

 

 

 

—

 

Number of land parcels sold

 

 

3

 

 

 

—

 

 

 

5

 

Percent interest sold

 

100 %

 

 

100 %

 

 

100 %

 

 
4. Investments in Real Estate Partnerships

The Company's investments in unconsolidated real estate partnerships include the following:
 

 

 

December 31, 2025

 

(in thousands)

 

Regency's Ownership

 

Number of Properties

 

 

Total Investment

 

 

Total Assets of the Partnership

 

 

The Company's Share of Net Income of the Partnership

 

 

Net Income of the Partnership

 

GRI - Regency, LLC (JV-GRI) (1)

 

40 %

 

 

55

 

 

$

112,235

 

 

 

1,330,890

 

 

 

115,312

 

 

 

275,534

 

Columbia Regency Partners II, LLC (Columbia II)

 

20 %

 

 

23

 

 

 

60,354

 

 

 

643,088

 

 

 

4,503

 

 

 

22,983

 

Columbia Village District, LLC

 

30 %

 

 

1

 

 

 

6,295

 

 

 

97,702

 

 

 

2,255

 

 

 

7,570

 

Individual Investors

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ballard Blocks

 

50 %

 

 

2

 

 

 

57,830

 

 

 

111,957

 

 

 

1,699

 

 

 

3,725

 

Bloom on Third

 

35 %

 

 

1

 

 

 

46,860

 

 

 

277,647

 

 

 

1,802

 

 

 

5,213

 

Others (2) (3)

 

12 % - 83 %

 

 

8

 

 

 

66,282

 

 

 

205,987

 

 

 

7,928

 

 

 

15,626

 

Total investments in real estate partnerships

 

 

90

 

 

$

349,856

 

 

 

2,667,271

 

 

 

133,499

 

 

 

330,651

 

(1) Effective October 1, 2025, the partners completed a partial distribution-in-kind (“DIK”) transaction involving a total of eleven operating properties. The Company received five of these properties, which had an aggregate fair value of $ 113.9 million, and assumed existing debt of approximately $ 10 million, which was repaid in December 2025. The remaining six properties were distributed to the other partner. As a result of this transaction, the Company recognized approximately $ 72.2 million in equity in income of investments in real estate partnerships, representing its share of the partnership’s gains.

(2) Effective January 1, 2025, we acquired our partner’s 33.3 % share in a single property partnership for a total purchase price of $ 10.3 million. Following this acquisition, the Company now owns 100 % of this property, and has been consolidated into the Company’s financial statements.

(3) Effective August 1, 2025, we acquired our partners' 50 % shares in two single property partnerships for a combined purchase price of $ 23.7 million. Following this acquisition, the Company now owns 100 % of these properties, and the properties have been consolidated into the Company’s financial statements.

 

 

 

December 31, 2024

 

(in thousands)

 

Regency's Ownership

 

Number of Properties

 

 

Total Investment

 

 

Total Assets of the Partnership

 

 

The Company's Share of Net Income of the Partnership

 

 

Net Income of the Partnership

 

GRI - Regency, LLC (JV-GRI)

 

40 %

 

 

66

 

 

$

136,972

 

 

 

1,455,471

 

 

 

38,729

 

 

 

91,447

 

Columbia Regency Partners II, LLC (Columbia II)

 

20 %

 

 

22

 

 

 

63,024

 

 

 

623,655

 

 

 

3,938

 

 

 

20,121

 

Columbia Village District, LLC

 

30 %

 

 

1

 

 

 

6,434

 

 

 

99,236

 

 

 

2,220

 

 

 

7,453

 

Individual Investors

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ballard Blocks

 

50 %

 

 

2

 

 

 

59,596

 

 

 

115,784

 

 

 

1,028

 

 

 

2,380

 

Bloom on Third

 

35 %

 

 

1

 

 

 

44,715

 

 

 

259,218

 

 

 

1,810

 

 

 

5,235

 

Others

 

12 % - 83 %

 

 

11

 

 

 

88,303

 

 

 

289,793

 

 

 

2,569

 

 

 

10,027

 

Total investments in real estate partnerships

 

 

103

 

 

$

399,044

 

 

 

2,843,157

 

 

 

50,294

 

 

 

136,663

 

 

95

REGENCY CENTERS CORPORATION AND REGENCY CENTERS, L.P.
Notes to Consolidated Financial Statements
December 31, 2025
 

The summarized balance sheet information for the investments in unconsolidated real estate partnerships, on a combined basis, is as follows:
 

 

 

December 31,

 

(in thousands)

 

2025

 

 

2024

 

Investments in real estate, net

 

$

2,437,380

 

 

 

2,569,765

 

Acquired lease intangible assets, net

 

 

22,946

 

 

 

25,164

 

Other assets

 

 

206,945

 

 

 

248,228

 

Total assets

 

$

2,667,271

 

 

 

2,843,157

 

Notes payable

 

$

1,522,951

 

 

 

1,564,551

 

Acquired lease intangible liabilities, net

 

 

21,573

 

 

 

19,045

 

Other liabilities

 

 

84,086

 

 

 

92,911

 

Capital - Regency

 

 

391,512

 

 

 

444,354

 

Capital - Third parties

 

 

647,149

 

 

 

722,296

 

Total liabilities and capital

 

$

2,667,271

 

 

 

2,843,157

 

The following table reconciles the Company's capital recorded by the partnerships to the Company's investments in real estate partnerships reported in the accompanying Consolidated Balance Sheets:
 

 

 

December 31,

 

(in thousands)

 

2025

 

 

2024

 

Capital - Regency

 

$

391,512

 

 

 

444,354

 

Basis difference

 

 

( 41,656

)

 

 

( 45,310

)

Investments in real estate partnerships

 

$

349,856

 

 

 

399,044

 

The revenues and expenses for the investments in unconsolidated real estate partnerships, on a combined basis, are summarized as follows:
 

 

 

Year ended December 31,

 

(in thousands)

 

2025

 

 

2024

 

 

2023

 

Total revenues

 

$

438,454

 

 

 

420,281

 

 

 

390,843

 

Operating expenses:

 

 

 

 

 

 

 

 

 

Depreciation and amortization

 

 

99,758

 

 

 

96,239

 

 

 

88,974

 

Property operating expense

 

 

71,083

 

 

 

68,289

 

 

 

65,509

 

Real estate taxes

 

 

53,651

 

 

 

51,986

 

 

 

47,529

 

General and administrative

 

 

5,570

 

 

 

5,201

 

 

 

5,008

 

Other operating expenses

 

 

4,191

 

 

 

5,740

 

 

 

3,119

 

Total operating expenses

 

$

234,253

 

 

 

227,455

 

 

 

210,139

 

Other expense (income):

 

 

 

 

 

 

 

 

 

Interest expense, net

 

 

58,618

 

 

 

58,451

 

 

 

56,706

 

Gain on sale of real estate

 

 

( 185,033

)

 

 

( 2,288

)

 

 

( 11,140

)

Net investment income

 

 

( 35

)

 

 

—

 

 

 

—

 

Total other expense (income)

 

 

( 126,450

)

 

 

56,163

 

 

 

45,566

 

Net income of the Partnerships

 

$

330,651

 

 

 

136,663

 

 

 

135,138

 

The Company's share of net income of the Partnerships

 

$

133,499

 

 

 

50,294

 

 

 

50,541

 

 

96

REGENCY CENTERS CORPORATION AND REGENCY CENTERS, L.P.
Notes to Consolidated Financial Statements
December 31, 2025
 

Acquisitions
The following table provides a summary of shopping centers and land parcels acquired through our investments in unconsolidated real estate partnerships for the periods set forth below:

(in thousands)

Year ended December 31, 2025

 

Date
Purchased

Property
Name

City/State

Property
Type

Real Estate Partner

Regency's Ownership

Purchase Price  (1)

 

Debt Assumed,
Net of
Premiums (1)

 

Intangible Assets  (1)

 

Intangible Liabilities  (1)

 

5/12/2025

Armonk Square

Armonk, NY

Operating

State of Oregon

20 %

 

26,250

 

 

11,884

 

 

2,405

 

 

5,498

 

Total property acquisitions

 

 

 

 

$

26,250

 

 

11,884

 

 

2,405

 

 

5,498

 

(1) Amounts reflected for purchase price and allocation are reflected at 100 %.

 

(in thousands)

Year ended December 31, 2024

 

Date
Purchased

Property
Name

City/State

Property
Type

Real Estate Partner

Regency's Ownership

Purchase Price  (1)

 

Debt Assumed,
Net of
Premiums (1)

 

Intangible Assets  (1)

 

Intangible Liabilities  (1)

 

8/30/2024

East Greenwich Square

East Greenwich, RI

Operating

Other

70 %

 

46,650

 

 

—

 

 

5,127

 

 

1,877

 

10/17/2024

University Commons - Austin

Round Rock, TX

Operating

State of Oregon

20 %

$

68,751

 

 

—

 

 

6,560

 

 

5,120

 

Total property acquisitions

 

 

 

 

$

115,401

 

 

—

 

 

11,687

 

 

6,997

 

(1) Amounts reflected for purchase price and allocation are reflected at 100 %.

Dispositions
The following table provides a summary of operating properties and land parcels disposed of through our investments unconsolidated in real estate partnerships:
 

 

 

Year ended December 31,

 

(in thousands, except number sold data)

 

2025

 

 

2024

 

 

2023

 

Proceeds from sale of real estate investments

 

$

—

 

 

 

2,256

 

 

 

30,659

 

Gain on sale of real estate

 

$

185,033

 

 

 

2,288

 

 

 

11,140

 

The Company's share of gain on sale of real estate

 

$

75,980

 

 

 

907

 

 

 

3,161

 

Number of operating properties sold

 

 

11

 

 

 

—

 

 

 

1

 

Number of land out-parcels sold

 

 

—

 

 

 

1

 

 

 

—

 

Notes Payable
Scheduled principal repayments on notes payable held by our investments in real estate partnerships as of December 31, 2025, were as follows:

(in thousands)
Scheduled Principal Payments and Maturities by Year:

 

Scheduled
Principal
Payments

 

 

Mortgage
Loan
Maturities

 

 

Unsecured
Maturities

 

 

Total

 

 

Regency's
Pro-Rata
Share

 

2026

 

$

7,131

 

 

 

265,346

 

 

 

20,000

 

 

 

292,477

 

 

 

95,689

 

2027

 

 

7,303

 

 

 

32,800

 

 

 

—

 

 

 

40,103

 

 

 

13,417

 

2028

 

 

4,097

 

 

 

231,235

 

 

 

—

 

 

 

235,332

 

 

 

81,592

 

2029

 

 

2,855

 

 

 

104,434

 

 

 

—

 

 

 

107,289

 

 

 

37,157

 

2030

 

 

2,349

 

 

 

215,893

 

 

 

—

 

 

 

218,242

 

 

 

77,886

 

Beyond 5 Years

 

 

2,159

 

 

 

634,631

 

 

 

—

 

 

 

636,790

 

 

 

237,869

 

Net unamortized loan costs, debt premium / (discount)

 

 

—

 

 

 

( 7,283

)

 

 

—

 

 

 

( 7,283

)

 

 

( 2,604

)

Total

 

$

25,894

 

 

 

1,477,056

 

 

 

20,000

 

 

 

1,522,950

 

 

 

541,006

 

At December 31, 2025, Company's investments in unconsolidated real estate partnerships had notes payable of $ 1.5 billion maturing through 2036 , of which 94.7 % had a weighted average fixed interest rate of 4.0 % . The remaining notes payable float with SOFR and had a weighted average variable interest rate of 6.1 % at December 31, 2025. These fixed and variable rate notes payable are all non-recourse, and our Pro-rata share was $ 541.0 million as of December 31, 2025. As notes payable mature, they will be repaid from proceeds from new borrowings and/or capital contributions.

97

REGENCY CENTERS CORPORATION AND REGENCY CENTERS, L.P.
Notes to Consolidated Financial Statements
December 31, 2025
 

The Company is obligated to contribute its Pro-rata share to fund maturities if the loans are not refinanced, and it has the capacity to do so from existing cash balances, availability on its line of credit, and operating cash flows. The Company believes that its partners are financially sound and have sufficient capital or access thereto to fund future capital requirements. In the event that a real estate partner was unable to fund its share of the capital requirements of the real estate partnership, the Company would have the right, but not the obligation, to loan the defaulting partner the amount of its capital call which would be secured by the partner's membership interest.
Management fee income
In addition to earning our share of net income or loss in each of these real estate partnerships, we recognized fees as discussed in Note 1, as follows:
 

 

 

Year ended December 31,

 

(in thousands)

 

2025

 

 

2024

 

 

2023

 

Management, transaction, and other fees

 

$

28,026

 

 

 

27,874

 

 

 

26,954

 

 
5. Other Assets

The following table represents the components of Other assets in the accompanying Consolidated Balance Sheets as of the periods set forth below:
 

(in thousands)

 

December 31, 2025

 

 

December 31, 2024

 

Goodwill

 

$

166,739

 

 

 

166,739

 

Investments

 

 

51,373

 

 

 

51,820

 

Prepaid and other

 

 

34,575

 

 

 

40,240

 

Derivative assets

 

 

6,778

 

 

 

12,781

 

Furniture, fixtures, and equipment, net

 

 

12,728

 

 

 

7,954

 

Deferred financing costs, net

 

 

6,530

 

 

 

9,512

 

Total other assets

 

$

278,723

 

 

 

289,046

 

The following table presents the goodwill balances and activity during the year ended:

 

 

December 31, 2025

 

 

December 31, 2024

 

(in thousands)

 

Goodwill

 

 

Accumulated
Impairment
Losses

 

 

Total

 

 

Goodwill

 

 

Accumulated
Impairment
Losses

 

 

Total

 

Beginning of year balance

 

$

292,640

 

 

 

( 125,901

)

 

 

166,739

 

 

$

294,524

 

 

 

( 127,462

)

 

 

167,062

 

Goodwill written off upon dispositions

 

 

( 19,227

)

 

 

19,227

 

 

 

—

 

 

 

( 1,884

)

 

 

1,561

 

 

 

( 323

)

End of year balance

 

$

273,413

 

 

 

( 106,674

)

 

 

166,739

 

 

$

292,640

 

 

 

( 125,901

)

 

 

166,739

 

As the Company identifies properties ("reporting units") that no longer meet its investment criteria, it will evaluate the property for potential sale. A decision to sell a reporting unit results in the need to evaluate its goodwill for recoverability and may result in impairment loss. Additionally, other changes impacting a reporting unit may be considered a triggering event. If events occur that trigger an impairment evaluation at multiple reporting units, a goodwill impairment may be significant.

98

REGENCY CENTERS CORPORATION AND REGENCY CENTERS, L.P.
Notes to Consolidated Financial Statements
December 31, 2025
 

6. Acquired Lease Intangibles

The Company had the following acquired lease intangibles as of the periods set forth below:

 

 

December 31,

 

(in thousands)

 

2025

 

 

2024

 

In-place leases

 

$

570,553

 

 

 

522,117

 

Above-market leases

 

 

105,081

 

 

 

103,075

 

Total intangible assets

 

 

675,634

 

 

 

625,192

 

Accumulated amortization

 

 

( 421,433

)

 

 

( 395,209

)

Acquired lease intangible assets, net

 

$

254,201

 

 

 

229,983

 

Below-market leases

 

 

599,494

 

 

 

586,660

 

Accumulated amortization

 

 

( 243,040

)

 

 

( 222,052

)

Acquired lease intangible liabilities, net

 

$

356,454

 

 

 

364,608

 

The following table provides a summary of amortization and net accretion amounts from acquired lease intangibles:

 

 

Year ended December 31,

 

 

 

(in thousands)

 

2025

 

 

2024

 

 

2023

 

 

Line item in Consolidated Statements of Operations

In-place lease amortization

 

$

43,642

 

 

 

49,169

 

 

 

44,102

 

 

Depreciation and amortization

Above-market lease amortization

 

 

8,850

 

 

 

8,860

 

 

 

6,571

 

 

Lease income

Acquired lease intangible asset amortization

 

$

52,492

 

 

 

58,029

 

 

 

50,673

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Below-market lease amortization

 

$

33,422

 

 

 

33,883

 

 

 

37,831

 

 

Lease income

The estimated aggregate amortization and net accretion amounts from acquired lease intangibles for the next five years are as follows:

(in thousands)

 

 

 

 

 

 

In Process Year Ending
December 31,

 

Amortization of
In-place lease intangibles

 

 

Net accretion of Above
/ Below market lease
intangibles

 

2026

 

$

38,122

 

 

 

21,050

 

2027

 

 

30,003

 

 

 

20,534

 

2028

 

 

24,352

 

 

 

20,615

 

2029

 

 

19,826

 

 

 

20,226

 

2030

 

 

17,109

 

 

 

19,319

 

 
7. Leases

Lessor Accounting
Substantially all of the Company's leases are classified as operating leases. The Company's Lease income is comprised of both fixed and variable income. Fixed and in-substance fixed lease income includes stated amounts per lease contracts, which are primarily related to base rent, and in some cases stated amounts for Recoverable Costs. Income for these amounts is recognized on a straight-line basis.
Variable lease income includes the following two main items in the lease contracts:
(i) Recoveries from tenants represent the tenants' contractual obligations to reimburse the Company for their portion of Recoverable Costs incurred. Generally, the Company's leases provide for the tenants to reimburse the Company based on the tenants' share of the actual costs incurred in proportion to the tenants' share of leased space in the property.

(ii) Percentage rent represents amounts billable to tenants based on the tenants' actual sales volume in excess of levels specified in the lease contract.

99

REGENCY CENTERS CORPORATION AND REGENCY CENTERS, L.P.
Notes to Consolidated Financial Statements
December 31, 2025
 

The following table provides a disaggregation of lease income recognized as either fixed or variable lease income based on the criteria specified in Topic 842:

 

 

Year ended December 31,

 

(in thousands)

 

2025

 

 

2024

 

 

2023

 

Operating lease income

 

 

 

 

 

 

 

 

 

Fixed and in-substance fixed lease income

 

$

1,102,834

 

 

 

1,035,225

 

 

 

928,364

 

Variable lease income

 

 

388,123

 

 

 

356,520

 

 

 

324,037

 

Other lease related income, net:

 

 

 

 

 

 

 

 

 

Above/below market rent and tenant rent inducement amortization, net

 

 

24,428

 

 

 

24,843

 

 

 

30,826

 

Uncollectible straight-line rent

 

 

( 1,167

)

 

 

( 1,885

)

 

 

1,261

 

Uncollectible amounts billable in lease income

 

 

( 2,793

)

 

 

( 3,324

)

 

 

( 549

)

Total lease income

 

$

1,511,425

 

 

 

1,411,379

 

 

 

1,283,939

 

Future minimum rental revenue under non-cancelable operating leases, excluding variable lease payments as of December 31, 2025, are as follows:

(in thousands)

 

 

 

For the year ending December 31,

 

 

 

2026

 

$

1,121,279

 

2027

 

 

1,026,724

 

2028

 

 

880,290

 

2029

 

 

736,919

 

2030

 

 

591,041

 

Thereafter

 

 

2,327,057

 

Total

 

$

6,683,310

 

At December 31, 2025, the Company had three leases classified as sales-type leases, with lease income recorded over the lease term in the form of variable interest income representing the constant periodic rate of return on the Company’s net investment in the lease, and fixed contractual obligations.
Lessee Accounting
The Company has shopping centers that are subject to non-cancelable, long-term ground leases where a third party owns the underlying land and has leased the land to the Company to construct and/or operate a shopping center.
The Company has 21 properties within its consolidated real estate portfolio that are either partially or completely on land subject to ground leases with third parties. Accordingly, the Company owns only a long-term leasehold or similar interest in these properties. These ground leases expire through the year 2121 , and in most cases, provide for renewal options.
In addition, the Company has non-cancelable operating leases for office space used to conduct its business. Office leases expire through the year 2035 , and in certain cases, provide for renewal options.
The ground and office lease expenses are recognized on a straight-line basis over the term of the leases, including management's estimate of expected optional renewal periods, with ground lease expense presented within Property operating expense, and office lease expense presented within General and administrative in the accompanying Consolidated Statements of Operations.

100

REGENCY CENTERS CORPORATION AND REGENCY CENTERS, L.P.
Notes to Consolidated Financial Statements
December 31, 2025
 

Operating lease expense under the Company's ground and office leases were as follows, including straight-line rent expense and variable lease expenses such as CPI increases, percentage rent and reimbursements of landlord costs:

 

 

Year ended December 31,

 

(in thousands)

 

2025

 

 

2024

 

 

2023

 

Fixed operating lease expense

 

 

 

 

 

 

 

 

 

Ground leases

 

$

15,489

 

 

 

15,420

 

 

 

14,727

 

Office leases

 

 

3,907

 

 

 

3,689

 

 

 

4,103

 

Total fixed operating lease expense

 

 

19,396

 

 

 

19,109

 

 

 

18,830

 

Variable lease expense

 

 

 

 

 

 

 

 

 

Ground leases

 

 

1,571

 

 

 

1,953

 

 

 

1,586

 

Office leases

 

 

604

 

 

 

592

 

 

 

729

 

Total variable lease expense

 

 

2,175

 

 

 

2,545

 

 

 

2,315

 

Total lease expense

 

$

21,571

 

 

 

21,654

 

 

 

21,145

 

Cash paid for amounts included in the measurement of operating lease liabilities

 

 

 

 

 

 

 

 

 

Operating cash flows for operating leases

 

$

16,871

 

 

 

16,212

 

 

 

15,823

 

The following table summarizes the undiscounted future cash flows by year attributable to the operating lease liabilities for ground and office leases as of December 31, 2025, and provides a reconciliation to the Lease liabilities included in the accompanying Consolidated Balance Sheets:

(in thousands)

 

Lease Liabilities

 

For the years ending December 31,

 

Ground Leases

 

 

Office Leases

 

 

Total

 

2026

 

$

12,817

 

 

 

3,963

 

 

 

16,780

 

2027

 

 

12,843

 

 

 

3,597

 

 

 

16,440

 

2028

 

 

12,984

 

 

 

2,137

 

 

 

15,121

 

2029

 

 

13,017

 

 

 

855

 

 

 

13,872

 

2030

 

 

13,012

 

 

 

439

 

 

 

13,451

 

Thereafter

 

 

675,321

 

 

 

913

 

 

 

676,234

 

Total undiscounted lease liabilities

 

$

739,994

 

 

 

11,904

 

 

 

751,898

 

Less imputed interest

 

 

( 508,492

)

 

 

( 1,038

)

 

 

( 509,530

)

Lease liabilities

 

$

231,502

 

 

 

10,866

 

 

 

242,368

 

Weighted average discount rate

 

 

5.5

%

 

 

4.6

%

 

 

 

Weighted average remaining term (in years)

 

 

47.8

 

 

 

3.7

 

 

 

 

 
8. Notes Payable and Unsecured Credit Facility

The Company's outstanding debt, net of unamortized debt premium (discount) and debt issuance costs, consisted of the following as of the dates set forth below:
 

 

 

Scheduled
Maturity Date

 

Weighted
Average
Contractual
Rate

 

Weighted
Average
Effective
Rate

 

December 31,

 

(in thousands)

 

 

 

 

 

 

 

2025

 

 

2024

 

Notes payable:

 

 

 

 

 

 

 

 

 

 

 

 

Fixed rate mortgage loans

 

2/1/2026  - 10/1/2038

 

4.0 %

 

4.7 %

 

$

475,948

 

 

 

337,703

 

Variable rate mortgage loans (1)

 

10/1/2026  - 2/20/2032

 

4.4 %

 

4.6 %

 

 

270,489

 

 

 

282,117

 

Fixed rate unsecured debt

 

5/11/2026  - 3/15/2049

 

4.2 %

 

4.4 %

 

 

3,872,864

 

 

 

3,723,880

 

Total notes payable, net

 

 

 

 

 

 

 

 

4,619,301

 

 

 

4,343,700

 

Unsecured credit facility:

 

 

 

 

 

 

 

 

 

 

 

 

$ 1.5  Billion Line of Credit (the "Line") (1)(2)

 

3/23/2028

 

4.4 %

 

4.8 %

 

 

120,000

 

 

 

65,000

 

Total unsecured credit facility

 

 

 

 

 

 

 

 

120,000

 

 

 

65,000

 

Total debt outstanding

 

 

 

 

 

 

 

$

4,739,301

 

 

 

4,408,700

 

(1) As of December 31, 2025, 76.5 % of the Variable rate debt are fixed through interest rate swaps.

(2) The Company has the option to extend the maturity date by two additional six-month periods . Weighted average effective rate for the Line is calculated based on a fully drawn Line balance using the period end variable rate.

101

REGENCY CENTERS CORPORATION AND REGENCY CENTERS, L.P.
Notes to Consolidated Financial Statements
December 31, 2025
 

Notes Payable
Notes payable consist of mortgage loans secured by properties and unsecured public and private debt. Mortgage loans may be repaid before maturity, but could be subject to yield maintenance premiums, and are generally due in monthly installments of principal and interest or interest only. Unsecured public debt may be repaid before maturity subject to accrued and unpaid interest through the proposed redemption date and a make-whole premium. Interest on unsecured public and private debt is payable semi-annually.
On May 13, 2025, the Company issued $ 400 million of senior unsecured notes due 2032, at a par value of 99.279 % and a coupon of 5.0 % (the "2025 Notes").
In July 2025, in connection with the acquisition of the RMV portfolio, the Company assumed $ 150 million of fixed-rate mortgage loans with a weighted average interest rate of 4.2 % and a weighted average remaining term to maturity of approximately 12 years .
In November 2025, the Company repaid $ 250 million of fixed rate unsecured debt and $ 16 million of fixed rate mortgage loans upon maturity.
The Company is required to comply with certain financial covenants for its unsecured public debt as defined in the indenture agreements such as the following ratios: Consolidated Debt to Consolidated Assets, Consolidated Secured Debt to Consolidated Assets, Consolidated Income for Debt Service to Consolidated Debt Service, and Unencumbered Consolidated Assets to Unsecured Consolidated Debt. As of December 31, 2025, the Company was in compliance with all debt covenants for its unsecured public debt.
Unsecured Credit Facilities
The Company has an unsecured line of credit facility (the "Line") pursuant to the Sixth Amended and Restated Credit Agreement (the "Credit Agreement"), dated as of January 18, 2024, by and among the Company and financial institutions party thereto, as lenders, and Wells Fargo Bank, National Association, as Administrative Agent. The Credit Agreement provides for an unsecured revolving credit facility in the amount of $ 1.50 billion for a term of four years (plus two six-month extension options ) and includes an accordion feature which permits the borrower to request increases in the size of the revolving loan facility by up to an additional $ 1.50 billion. The interest rate on the revolving credit facility is equal to SOFR plus a margin that is determined based on the borrower’s long-term unsecured debt ratings and ratio of indebtedness to total asset value. The Credit Agreement also incorporates sustainability-linked adjustments to the interest rate, which provide for upward or downward adjustments to the applicable margin if the Company achieves, or fails to achieve, certain specified targets based on Scope 1 and Scope 2 emission standards as set forth in the Credit Agreement.
At December 31, 2025, the Line had an available capacity of $ 1.4 billion after giving effect to outstanding borrowings and commitments from issued letters of credit. The Line accrues interest at a variable rate of SOFR plu s an applicable spread of 0.79 % and a 0.115 % commitment fee.
The Company is required to comply with certain financial covenants as defined in the Credit Agreement, including the Ratio of Indebtedness to Total Asset Value ("TAV"), Ratio of Unsecured Indebtedness to Unencumbered Asset Value, Ratio of Adjusted EBITDA to Fixed Charges, Ratio of Secured Indebtedness to TAV, Ratio of Unencumbered Net Operating Income to Unsecured Interest Expense, and other covenants customary with this type of unsecured financing. As of December 31, 2025, the Company was in compliance with all financial covenants for the Line.

102

REGENCY CENTERS CORPORATION AND REGENCY CENTERS, L.P.
Notes to Consolidated Financial Statements
December 31, 2025
 

Scheduled principal payments and maturities on notes payable and the unsecured credit facility were as follows:
 

(in thousands)

 

December 31, 2025

 

Scheduled Principal Payments and Maturities by Year:

 

Scheduled
Principal
Payments

 

 

Mortgage
Loan
Maturities

 

 

Unsecured
Maturities  (1)

 

 

Total

 

2026

 

$

12,836

 

 

 

147,848

 

 

 

200,000

 

 

 

360,684

 

2027

 

 

10,051

 

 

 

222,558

 

 

 

525,000

 

 

 

757,609

 

2028

 

 

8,365

 

 

 

51,939

 

 

 

420,000

 

 

 

480,304

 

2029

 

 

5,619

 

 

 

97,120

 

 

 

425,000

 

 

 

527,739

 

2030

 

 

5,445

 

 

 

2,163

 

 

 

600,000

 

 

 

607,608

 

Beyond 5 Years

 

 

24,210

 

 

 

190,677

 

 

 

1,850,000

 

 

 

2,064,887

 

Unamortized debt premium/(discount) and issuance costs

 

 

—

 

 

 

( 32,394

)

 

 

( 27,136

)

 

 

( 59,530

)

Total

 

$

66,526

 

 

 

679,911

 

 

 

3,992,864

 

 

 

4,739,301

 

(1) Includes unsecured public and private debt and unsecured credit facilities.

The Company was in compliance as of December 31, 2025 , with all debt covenants.

9. Derivative Instruments

The Company may use derivative financial instruments, including interest swaps, caps, options, floors, and other interest rate derivative contracts, to hedge all or a portion of the interest rate risk associated with its borrowings. The Company does not intend to utilize derivative instruments for speculative transactions or purposes other than mitigation of interest rate risk. The use of derivative financial instruments carries certain risks, including the risk that the counterparties to these contractual arrangements are not able to perform under the agreements. To mitigate this risk, the Company only enters into derivative financial instruments with counterparties that meet the Company's stringent standards for creditworthiness. The Company does not anticipate that any of the counterparties will fail to meet their obligations.
Detail on the Company's interest rate derivatives outstanding is as follows:

(in thousands, except number of instruments data)

 

December 31,

 

Interest Rate Swaps

 

2025

 

 

2024

 

Notional amount

 

$

299,375

 

 

 

301,444

 

Number of instruments

 

 

15

 

 

 

14

 

Detail on the fair value of the Company's interest rate derivatives is as follows:

(in thousands)

 

December 31,

 

Interest rate swaps classified as:

 

2025

 

 

2024

 

Derivative assets

 

$

6,778

 

 

 

12,781

 

Derivative liabilities

 

 

( 1,606

)

 

 

( 423

)

Derivatives in an asset position are included within Other assets in the accompanying Consolidated Balance Sheets, while those in a liability position are included within Accounts payable and other liabilities.
These derivative financial instruments are all interest rate swaps, which are designated and qualify as cash flow hedges. The Company does not enter into derivative instruments for trading or speculative purposes. As of December 31, 2025, all of the Company's derivatives are designated as cash flow hedges.
The changes in the fair value of derivatives designated and qualifying as cash flow hedges are recorded in Accumulated other comprehensive income ("AOCI") and subsequently reclassified into earnings in the period that the hedged interest payments affects earnings.

103

REGENCY CENTERS CORPORATION AND REGENCY CENTERS, L.P.
Notes to Consolidated Financial Statements
December 31, 2025
 

The following table represents the effect of the derivative financial instruments on the accompanying Consolidated Financial Statements:

Location and Amount of Gain (Loss) Recognized in OCI on Derivative

 

 

 

Year ended December 31,

 

(in thousands)

 

2025

 

 

2024

 

 

2023

 

Interest rate swaps

 

$

( 2,659

)

 

 

12,523

 

 

 

( 2,448

)

 

 

 

 

 

 

 

 

 

 

Location and Amount of Loss (Gain) Reclassified from AOCI into Income

 

 

 

Year ended December 31,

 

(in thousands)

 

2025

 

 

2024

 

 

2023

 

Interest expense, net

 

$

( 4,738

)

 

 

( 8,895

)

 

 

( 7,536

)

 

 

 

 

 

 

 

 

 

 

Total amounts presented in the Consolidated Statements of Operations
in which the effects of cash flow hedges are recorded

 

 

 

Year ended December 31,

 

(in thousands)

 

2025

 

 

2024

 

 

2023

 

Interest expense, net

 

$

199,548

 

 

 

180,119

 

 

 

154,249

 

 
As of December 31, 2025, the Company expects approximately $ 0.2 million of accumulated comprehensive income on derivative instruments, including the Company's share from its Investments in real estate partnerships, to be reclassified into earnings during the next 12 months.

10. Fair Value Measurements

(a) Disclosure of Fair Value of Financial Instruments

All financial instruments of the Company are reflected in the accompanying Consolidated Balance Sheets at amounts which, in management's estimation, reasonably approximate their fair values, except those instruments listed below:
 

 

 

December 31,

 

 

 

2025

 

 

2024

 

(in thousands)

 

Carrying
Amount

 

 

Fair Value

 

 

Carrying
Amount

 

 

Fair Value

 

Financial assets:

 

 

 

 

 

 

 

 

 

 

 

 

Notes receivable

 

$

31,987

 

 

 

32,173

 

 

$

31,790

 

 

 

31,755

 

Financial liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Notes payable, net

 

$

4,619,301

 

 

 

4,554,628

 

 

$

4,343,700

 

 

 

4,141,096

 

Unsecured credit facilities (1)

 

$

120,000

 

 

 

120,000

 

 

$

65,000

 

 

 

65,000

 

(1) The carrying amounts approximated its fair values due to the variable nature of the terms.

 
The above fair values represent management's estimate of the amounts that would be received from selling those assets or that would be paid to transfer those liabilities in an orderly transaction between market participants as of December 31, 2025 and 2024, respectively. These fair value measurements maximize the use of observable inputs which are classified within Level 2 of the fair value hierarchy. However, in situations where there is little, if any, market activity for the asset or liability at the measurement date, the fair value measurement reflects the Company's own judgments about the assumptions that market participants would use in pricing the asset or liability.
The Company develops its judgments based on the best information available at the measurement date, including expected cash flows, appropriate risk-adjusted discount rates, and available observable and unobservable inputs. Service providers involved in fair value measurements are evaluated for competency and qualifications on an ongoing basis. As considerable judgment is often necessary to estimate the fair value of these financial instruments, the fair values presented above are not necessarily indicative of amounts that will be realized upon disposition of the financial instruments.

104

REGENCY CENTERS CORPORATION AND REGENCY CENTERS, L.P.
Notes to Consolidated Financial Statements
December 31, 2025
 

(b) Fair Value Measurements

The following financial instruments are measured at fair value on a recurring basis:
Securities
The Company has investments in marketable securities that are included within Other assets on the accompanying Consolidated Balance Sheets. The marketable securities, which include mutual funds and exchange-traded funds, are measured at fair value using quoted prices in active markets and are classified as Level 1 inputs of the fair value hierarchy.
Changes in the value of securities are recorded within Net investment income in the accompanying Consolidated Statements of Operations, and include the following:

 

 

Year ended December 31,

 

(in thousands)

 

2025

 

 

2024

 

 

2023

 

Unrealized Gain

 

 

893

 

 

 

4,452

 

 

 

4,197

 

Available-for-Sale Debt Securities
Available-for-sale debt securities consist of investments in corporate bonds and agency mortgage-backed securities. These securities are recorded at fair value, which is determined using either recent trade prices for the identical debt instrument or comparable instruments by issuers of similar industry sector, issuer credit rating, duration and security type. The fair value measurements for these are considered Level 2 inputs of the fair value hierarchy. Unrealized gains and losses on these available-for-sale debt securities are recognized through Other comprehensive income.
Interest Rate Derivatives
The fair value of the Company's interest rate derivatives is determined using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves and implied volatilities. The Company incorporates credit valuation adjustments to appropriately reflect both its own nonperformance risk and the respective counterparty's nonperformance risk in the fair value measurements.
Although the Company has determined that the majority of the inputs used to value its derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with its derivatives utilize Level 3 inputs, such as estimates of current credit spreads, to evaluate the likelihood of default by the Company and its counterparties. The Company has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and has determined that the credit valuation adjustments are not significant to the overall valuation of its interest rate swaps. As a result, the Company determined that its interest rate swaps valuation in its entirety is classified in Level 2 of the fair value hierarchy.
The following tables present the placement in the fair value hierarchy of assets and liabilities measured at fair value on a recurring basis:
 

 

 

Fair Value Measurements as of December 31, 2025

 

(in thousands)

 

Balance

 

 

Quoted Prices in Active Markets for Identical Assets
(Level 1)

 

 

Significant Other Observable Inputs
(Level 2)

 

 

Significant Unobservable Inputs
(Level 3)

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Securities

 

$

39,887

 

 

 

39,887

 

 

 

—

 

 

 

—

 

Available-for-sale debt securities

 

 

11,486

 

 

 

—

 

 

 

11,486

 

 

 

—

 

Interest rate derivatives

 

 

6,778

 

 

 

—

 

 

 

6,778

 

 

 

—

 

Total

 

$

58,151

 

 

 

39,887

 

 

 

18,264

 

 

 

—

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate derivatives

 

$

( 1,606

)

 

 

—

 

 

 

( 1,606

)

 

 

—

 

 

105

REGENCY CENTERS CORPORATION AND REGENCY CENTERS, L.P.
Notes to Consolidated Financial Statements
December 31, 2025
 

 

 

 

Fair Value Measurements as of December 31, 2024

 

(in thousands)

 

Balance

 

 

Quoted Prices in Active Markets for Identical Assets
(Level 1)

 

 

Significant Other Observable Inputs
(Level 2)

 

 

Significant Unobservable Inputs
(Level 3)

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Securities

 

$

39,419

 

 

 

39,419

 

 

 

—

 

 

 

—

 

Available-for-sale debt securities

 

 

12,401

 

 

 

—

 

 

 

12,401

 

 

 

—

 

Interest rate derivatives

 

 

12,781

 

 

 

—

 

 

 

12,781

 

 

 

—

 

Total

 

$

64,601

 

 

 

39,419

 

 

 

25,182

 

 

 

—

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate derivatives

 

$

( 423

)

 

 

—

 

 

 

( 423

)

 

 

—

 

As of December 31, 2025 , there were no assets and/or liabilities measured at fair value on a nonrecurring basis. The following tables present the placement in the fair value hierarchy of assets and liabilities that are measured at fair value on a non-recurring basis as of December 31, 2024:

 

 

Fair Value Measurements as of December 31, 2024

 

(in thousands)

 

Balance

 

 

Quoted Prices in Active Markets for Identical Assets
(Level 1)

 

 

Significant Other Observable Inputs
(Level 2)

 

 

Significant Unobservable Inputs
(Level 3)

 

 

Total Gains (Losses)

 

Real estate assets

 

$

10,915

 

 

 

—

 

 

 

10,915

 

 

 

—

 

 

 

( 12,974

)

 
11. Equity and Capital

Preferred Stock of the Parent Company

Terms and conditions of the preferred stock outstanding are summarized as follows:

 

Preferred Stock Outstanding as of December 31, 2025 and 2024

 

Date of Issuance

 

Shares Issued and Outstanding

 

 

Liquidation Preference

 

 

Distribution Rate

 

Callable By Company

Series A

8/18/2023

 

 

4,600,000

 

 

$

115,000,000

 

 

6.250 %

 

On demand

Series B

8/18/2023

 

 

4,400,000

 

 

 

110,000,000

 

 

5.875 %

 

On demand

 

 

 

 

9,000,000

 

 

$

225,000,000

 

 

 

 

 

Dividends Declared
Subsequent to December 31, 2025, the Board declared the following dividends:

 

 

Dividend Declared, per share

 

 

Declaration Date

 

Record Date

 

Payable Date

Series A Preferred Stock

 

$

0.390625

 

 

February 4, 2026

 

April 15, 2026

 

April 30, 2026

Series B Preferred Stock

 

$

0.367200

 

 

February 4, 2026

 

April 15, 2026

 

April 30, 2026

Except under certain limited conditions, each series of Preferred Stock is non-voting, has no stated maturity and is redeemable for cash at $ 25.00 per share at the Company's option. The holders of the Preferred Stock have general preference rights over common stockholders with respect to liquidation and quarterly distributions. In the event of a cumulative arrearage equal to six quarterly dividends, holders of the Preferred Stock (voting as a single class without regard to series) will have the right to elect two additional members to serve on the Company's Board of Directors until the arrearage has been cured. Upon the occurrence of a Change of Control, as defined in the Company's Articles of Incorporation, the holders of the Preferred Stock will have the right to convert all or part of the shares of the Preferred Stock held by such holders on the applicable conversion date into a number of shares of Common Stock.
 

106

REGENCY CENTERS CORPORATION AND REGENCY CENTERS, L.P.
Notes to Consolidated Financial Statements
December 31, 2025
 

Common Stock of the Parent Company
Dividends Declared
 
On February 4, 2026 , the Board declared a common stock dividend of $ 0.755 per share, payable on April 1, 2026 , to shareholders of record as of March 11, 2026 .
At the Market ("ATM") Program
Under the Parent Company's ATM Program, as authorized by the Board, the Parent Company may sell up to $ 500 million of common stock at prices determined by the market at the time of sale. The timing of sales, if any, will be dependent on market conditions and other factors.
During 2024, the Company entered into forward sale agreements under its ATM program through which the Parent Company expected to issue  1,339,377  shares of its common stock at a weighted average offering price of $ 74.66  per share before any underwriting discount and offering expenses.  
The Company settled all forward sales agreements entered into during 2024 under its ATM program as follows:
• In August 2025, the Company issued 673,172 shares of common stock and received $ 49.2 million of net proceeds.

• In October 2025, the Company issued an additional 666,205 shares of common stock and received $ 49.1 million of net proceeds. Upon completion of these settlements, the Company had fully settled all forward sales agreements entered into during 2024.

• Proceeds from the issuance of shares were used to fund acquisitions of operating properties, fund developments and redevelopments, and for general corporate purposes.

As of December 31, 2025 , and after giving effect to the aforementioned forward equity offering, $ 400 million of common stock remained available for issuance under this ATM Program.
Subsequent to December 31, 2025, on February 04, 2026, the Board reauthorized the issuance and sale of up to $ 500 million of common stock under its existing ATM program.
Stock Repurchase Program
On July 31, 2024, the Board authorized a common stock repurchase program under which the Company may purchase up to $ 250.0 million of shares of its outstanding common stock (the "Repurchase Program"). Under the Repurchase Program, the Company may repurchase shares through open market transactions in accordance with applicable federal securities laws, including Rule 10b-18 of the Exchange Act. The Board's authorization for the Repurchase Program expires on June 30, 2026 , unless modified, extended or earlier terminated by the Board in its discretion. Any common stock repurchased, if not retired, will be treated as treasury stock.
During the year ended December 31, 2025 , the Company made no repurchases and $ 250.0 million remained available under the Repurchase Program.
On February 4, 2026, the Board authorized a new common stock repurchase program under which the Company may purchase up to $ 500 million shares of its outstanding common stock (the "New Repurchase Program"). The New Repurchase Program replaced and superseded the prior Repurchase Program. Under the New Repurchase Program, the Company may repurchase shares through open market transactions in accordance with applicable federal securities laws, including Rule 10b-18 of the Exchange Act. The Board's authorization for the New Repurchase Program expires on February 28, 2029 , unless modified, extended or earlier terminated by the Board in its discretion. Any common stock repurchased, if not retired, will be treated as treasury stock.

107

REGENCY CENTERS CORPORATION AND REGENCY CENTERS, L.P.
Notes to Consolidated Financial Statements
December 31, 2025
 

Preferred Units of the Operating Partnership
The number of Series A Preferred Units and Series B Preferred Units, respectively, issued by the Operating Partnership is equal to the number of Series A Preferred Stock and Series B Preferred Stock, respectively, issued by the Parent Company.
Common Units of the Operating Partnership
Common Units are issued, or redeemed and retired, for each share of the Parent Company stock issued or redeemed, or retired, as described above. During the year ended December 31, 2025, unitholders redeemed a total of 31,558 Common Units, consisting of 28,815 units redeemed in exchange for approximately $ 2.0 million in cash and 2,743 units redeemed in exchange for shares of the Parent Company’s common stock. Cash redemptions were made at amounts equivalent to the market value of the Parent Company’s common stock at the time of redemption, while unit-for-share exchanges were completed on a one-for-one basis.
In July 2025, the Operating Partnership issued 2,773,087 Common Units, valued at $ 199.7 million based on the market price at the time of issuance, to unrelated third-party sellers as partial purchase price consideration for the acquisition of five properties.
During the year ended December 31, 2024 , 10,795 Common Units were exchanged for shares of Parent Company common stock.
General Partners
The Parent Company, as general partner, owned the following Common Units outstanding:
 

 

 

December 31,

 

(in thousands)

 

2025

 

 

2024

 

Common Units owned by the general partner

 

 

182,902

 

 

 

181,361

 

Common Units owned by the limited partners

 

 

3,838

 

 

 

1,097

 

Total Common Units outstanding

 

 

186,740

 

 

 

182,458

 

Percentage of Common Units owned by the general partner

 

 

97.9

%

 

 

99.4

%

 
12. Stock-Based Compensation

The Company records stock-based compensation expense within General and administrative expenses in the accompanying Consolidated Statements of Operations, and recognizes forfeitures as they occur.

 

 

Year ended December 31,

 

(in thousands)

 

2025

 

 

2024

 

 

2023

 

Restricted stock  (1)(2)

 

$

21,648

 

 

 

18,549

 

 

 

17,277

 

Directors' fees paid in common stock and other employee stock grants

 

 

439

 

 

 

528

 

 

 

590

 

Capitalized stock-based compensation

 

 

( 2,628

)

 

 

( 1,941

)

 

 

( 954

)

Stock-based compensation, net of capitalization

 

$

19,459

 

 

 

17,136

 

 

 

16,913

 

(1) Includes amortization of the grant date fair value of restricted stock awards over the respective vesting periods.

(2) In addition, the Company expensed $ 6.4 million and $ 3.2 million during 2024 and 2023, respectively, within Other operating expenses in connection with restricted stock expense related to the acquisition of UBP.

The Company established its Omnibus Incentive Plan (the "Plan") under which the Board of Directors may grant stock options and other stock-based awards to officers, directors, and other key employees. The Plan allows the Company to issue up to 5.0 million shares in the form of the Parent Company's common stock or stock options. As of December 31, 2025, there were 3.5 million shares available for grant under the Plan.
Restricted Stock Units
The Company grants restricted stock under the Plan to its employees as a form of long-term compensation and retention. The terms of each restricted stock grant vary depending upon the participant's responsibilities and position within the Company. The Company's stock grants can be categorized as either time-based awards, performance-based awards, or market-based awards. All awards are valued at grant date fair value, earn dividends throughout the vesting period, and have no voting rights. Fair value is measured using the grant date market price for all time-based and performance-based awards. Market based awards are valued using a Monte Carlo simulation model to estimate the fair value based on the probability of

108

REGENCY CENTERS CORPORATION AND REGENCY CENTERS, L.P.
Notes to Consolidated Financial Statements
December 31, 2025
 

satisfying the market conditions and the projected stock price at the time of payout, discounted to the valuation date over a three year performance period. Assumptions used in the estimate include historic volatility over the previous three-year period, risk-free interest rates, and Regency's historic daily return as compared to the market index. Since the award payout includes dividend equivalents and the total shareholder return includes the value of dividends, no dividend yield assumption is required for the valuation. Compensation expense is measured at the grant date and recognized on a straight-line basis over the requisite service period for the entire award, regardless of whether the market condition is ultimately achieved.
The following table summarizes non-vested restricted stock activity:

 

 

Year ended December 31, 2025

 

 

 

Number of Shares

 

 

Intrinsic Value (in thousands)

 

 

Weighted Average Grant Date Fair Value

 

Non-vested as of December 31, 2024

 

 

803,789

 

 

 

 

 

 

 

Time-based awards granted  (1) (4)

 

 

160,733

 

 

 

 

 

$

71.81

 

Performance-based awards granted (2) (4)

 

 

18,721

 

 

 

 

 

$

71.78

 

Market-based awards granted (3) (4)

 

 

145,778

 

 

 

 

 

$

83.97

 

Change in market-based awards earned for performance (3)

 

 

( 33,825

)

 

 

 

 

$

70.89

 

Vested (5)

 

 

( 250,944

)

 

 

 

 

$

71.01

 

Forfeited

 

 

( 9,338

)

 

 

 

 

$

67.68

 

Non-vested as of December 31, 2025 (6)

 

 

834,914

 

 

$

57,634

 

 

 

 

(1) Time-based awards vest beginning on the first anniversary following the grant date over a one or four year service period . These grants are subject only to continued employment and are not dependent on future performance measures. Accordingly, if such vesting criteria are not met, compensation cost previously recognized is reversed.

(2) Performance-based awards are earned subject to performance measurements. Once the performance criteria are achieved and the actual number of shares earned is determined, shares vest over a required service period. The Company considers the likelihood of meeting the performance criteria based upon management's estimates from which it determines the amounts recognized as expense on a periodic basis.

(3) Market-based awards are earned dependent upon the Company's total shareholder return in relation to the shareholder return of a NAREIT index over a three-year period. Once the performance criteria are met and the actual number of shares earned is determined, the shares are immediately vested and distributed. The probability of meeting the criteria is considered when calculating the estimated fair value on the date of grant using a Monte Carlo simulation. These awards are accounted for as awards with market criteria, with compensation cost recognized over the service period, regardless of whether the performance criteria are achieved and the awards are ultimately earned. The significant assumptions underlying determination of fair values for market-based awards granted were as follows:

 

 

Year ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Expected volatility

 

 

23.8

%

 

 

25.50

%

 

 

45.50

%

Risk free interest rate

 

 

4.25

%

 

 

4.14

%

 

 

3.75

%

(4) The weighted-average grant price for restricted stock granted during the years is summarized below:

 

 

Year ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Weighted-average grant date fair value for restricted stock

 

$

77.26

 

 

$

60.36

 

 

$

68.28

 

(5) The total intrinsic value of restricted stock vested during the years is summarized below (in thousands):

 

 

Year ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Intrinsic value of restricted stock vested

 

$

17,820

 

 

$

19,254

 

 

$

19,717

 

(6) As of December 31, 2025, there was $ 25.5 million of unrecognized compensation cost related to non-vested restricted stock granted under the Parent Company's Plan . When recognized, this compensation results in additional paid in capital in the accompanying Consolidated Statements of Equity of the Parent Company and in general partner preferred and common units in the accompanying Consolidated Statements of Capital of the Operating Partnership. This unrecognized compensation cost is expected to be recognized over the next three years . The Company issues new restricted stock from its authorized shares available at the date of grant.

 

109

REGENCY CENTERS CORPORATION AND REGENCY CENTERS, L.P.
Notes to Consolidated Financial Statements
December 31, 2025
 

13. Saving and Retirement Plans

401(k) Retirement Plan
The Company maintains a 401(k) retirement plan covering substantially all employees and permits participants to defer eligible compensation up to the maximum allowable amount determined by the IRS. This deferred compensation, together with Company matching contributions equal to 100 % of employee deferrals up to a maximum of $ 5,000 of their eligible compensation, is fully vested and funded as of December 31, 2025 . Additionally, an annual profit sharing contribution may be made, which are fully vested after three years in service. Costs for Company contributions to the plan totaled $ 5.7 million , $ 5.6 million , and $ 5.3 million for the years ended December 31, 2025, 2024, and 2023, respectively.
Non-Qualified Deferred Compensation Plan ("NQDCP")
The Company maintains a NQDCP which allows select employees and directors to defer part or all of their cash bonus, director fees, and vested restricted stock units. All contributions into the participants' accounts are fully vested upon contribution to the NQDCP and are deposited in a Rabbi trust.
The following table reflects the balances of the assets and deferred compensation liabilities of the Rabbi trust and related participant account obligations in the accompanying Consolidated Balance Sheets, excluding Regency stock:

 

 

Year ended December 31,

 

 

 

(in thousands)

 

2025

 

 

2024

 

 

Location in Consolidated Balance Sheets

Assets:

 

 

 

 

 

 

 

 

Securities

 

$

34,113

 

 

 

33,555

 

 

Other assets

Liabilities:

 

 

 

 

 

 

 

 

Deferred compensation obligation

 

$

34,032

 

 

 

33,473

 

 

Accounts payable and other liabilities

Realized and unrealized gains and losses on securities held in the NQDCP are recognized within Net investment income in the accompanying Consolidated Statements of Operations. Changes in participant obligations, which is based on changes in the value of their investment elections, is recognized within General and administrative expenses within the accompanying Consolidated Statements of Operations.
Investments in shares of the Company's common stock are included, at cost, as Treasury stock in the accompanying Consolidated Balance Sheets of the Parent Company and as a reduction of General partner capital in the accompanying Consolidated Balance Sheets of the Operating Partnership. The participant's deferred compensation liability attributable to the participants' investments in shares of the Company's common stock are included, at cost, within Additional paid in capital in the accompanying Consolidated Balance Sheets of the Parent Company and as a reduction of General partner capital in the accompanying Consolidated Balance Sheets of the Operating Partnership. Changes in participant account balances related to the Regency common stock fund are recorded directly within shareholders' equity.

 
14. Earnings per Share and Unit

Parent Company Earnings per Share
The following summarizes the calculation of basic and diluted earnings per share:
 

 

 

Year ended December 31,

 

(in thousands, except per share data)

 

2025

 

 

2024

 

 

2023

 

Numerator:

 

 

 

 

 

 

 

 

 

Net income attributable to common shareholders - basic

 

$

513,810

 

 

 

386,738

 

 

 

359,500

 

Net income attributable to common shareholders - diluted

 

$

513,810

 

 

 

386,738

 

 

 

359,500

 

Denominator:

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding for basic EPS

 

 

181,902

 

 

 

182,817

 

 

 

176,085

 

Weighted average common shares outstanding for diluted EPS  (1)

 

 

182,234

 

 

 

183,040

 

 

 

176,371

 

Net income per common share – basic

 

$

2.82

 

 

 

2.12

 

 

 

2.04

 

Net income per common share – diluted

 

$

2.82

 

 

 

2.11

 

 

 

2.04

 

(1) Using the treasury stock method, the calculation includes the dilutive effect of unvested restricted stock and shares to be issued under the forward sale agreements.

110

REGENCY CENTERS CORPORATION AND REGENCY CENTERS, L.P.
Notes to Consolidated Financial Statements
December 31, 2025
 

The effect of the assumed exchange of the EOP units and certain other exchangeable units had an anti-dilutive effect upon the calculation of net income attributable to the common shareholders per share. Accordingly, the impact of such assumed exchanges has not been included in the determination of diluted net income per share calculations. Weighted average EOP units outstanding were 2,304,079 , 1,099,187 and 953,085 for the year ended December 31, 2025, 2024 and 2023, respectively.
Operating Partnership Earnings per Unit
The following summarizes the calculation of basic and diluted earnings per unit ("EPU"):
 

 

 

Year ended December 31,

 

(in thousands, except per unit data)

 

2025

 

 

2024

 

 

2023

 

Numerator:

 

 

 

 

 

 

 

 

 

Net income attributable to common unit holders - basic

 

$

520,879

 

 

 

389,076

 

 

 

361,508

 

Net income attributable to common unit holders - diluted

 

$

520,879

 

 

 

389,076

 

 

 

361,508

 

Denominator:

 

 

 

 

 

 

 

 

 

Weighted average common units outstanding for basic EPU

 

 

184,206

 

 

 

183,916

 

 

 

177,038

 

Weighted average common units outstanding for diluted EPU  (1)

 

 

184,538

 

 

 

184,139

 

 

 

177,324

 

Net income per common unit – basic

 

$

2.83

 

 

 

2.12

 

 

 

2.04

 

Net income per common unit – diluted

 

$

2.82

 

 

 

2.11

 

 

 

2.04

 

(1) Using the treasury stock method, the calculation includes the dilutive effect of unvested restricted units and units to be issued under the forward sale agreements.

The effect of the assumed exchange of certain other exchangeable units had an anti-dilutive effect upon the calculation of net income attributable to the common unit holders per share. Accordingly, the impact of such assumed exchanges has not been included in the determination of diluted net income per unit calculations.

15. Segment Information

The Company's business consists of acquiring, developing, owning, and operating income-producing retail real estate in the United States of America ("USA" or "United States"). The Company owns and manages a portfolio of neighborhood and community shopping centers, anchored primarily by grocers. Nearly all of the Company's consolidated revenues are generated from real estate investments in shopping centers.
The Company derives revenue primarily by leasing retail spaces to tenants under long-term leases with varying terms that generally provide for fixed payments of base rent with stated increases over the lease term. Some leases also include provisions for additional percentage rent based on tenant sales performance. Additionally, most lease agreements contain provisions requiring tenants to reimburse their share of actual real estate taxes, insurance and CAM costs incurred by the Company.
The Company’s CODM is the Executive Committee, which is comprised of the Chief Executive Officer, Chief Financial Officer, Chief Operating Officer, and the Chief Investment Officer. The CODM evaluates the performance of shopping centers and allocates resources on an individual property basis. Consequently, the Company defines its operating segments as individual properties. These operating segments are aggregated into one reportable segment due to similarities in the nature and economics of the centers, tenant profiles, operating processes, and long-term financial performance. The accounting policies for the shopping centers segment are consistent with those described in the Summary of Significant Accounting Policies.
The CODM assesses the performance of each shopping center and allocates resources based on Net Operating Income (“NOI”). NOI is calculated as the sum of base rent, percentage rent, termination fee income, tenant recoveries, other lease income, and other property income, less operating and maintenance expenses, real estate taxes, ground rent, termination expense, and uncollectible lease income. NOI excludes items such as straight-line rental income and expense, above and below market rent and ground rent amortization, tenant lease inducement amortization, and other fees. The Company’s NOI also includes its share of NOI from unconsolidated real estate investment partnerships. The Company does not report asset information for the segment because it is not used to evaluate performance or regularly provided to the CODM.

111

REGENCY CENTERS CORPORATION AND REGENCY CENTERS, L.P.
Notes to Consolidated Financial Statements
December 31, 2025
 

The CODM uses NOI to evaluate income generated from shopping centers (i.e., return on assets) and to guide decisions on capital investments. These decisions may include acquisitions, investments in real estate developments and/or capital improvement.
The following tables provide information about the shopping centers segment revenues, significant expenses, NOI and the reconciliations of these amounts to the Company’s consolidated Net income and Total revenues:

 

Year ended December 31,

 

 

2025

 

 

2024

 

 

2023

 

Lease income

$

1,655,538

 

 

 

1,548,929

 

 

 

1,413,079

 

Other property income

 

14,818

 

 

 

15,450

 

 

 

12,260

 

Less:

 

 

 

 

 

 

 

 

Straight-line rent on lease income

 

( 27,224

)

 

 

( 22,193

)

 

 

( 13,559

)

Above/below market rent amortization, net

 

( 25,265

)

 

 

( 25,612

)

 

 

( 31,604

)

Total real estate revenues

 

1,617,867

 

 

 

1,516,574

 

 

 

1,380,176

 

Operating expenses (1)

 

( 284,468

)

 

 

( 267,660

)

 

 

( 247,792

)

Real estate taxes

 

( 209,958

)

 

 

( 201,546

)

 

 

( 181,096

)

NOI

$

1,123,441

 

 

 

1,047,368

 

 

 

951,288

 

Reconciliation of Total real estate revenues to Total revenues:

 

 

 

 

 

 

 

 

Total real estate revenues

 

1,617,867

 

 

 

1,516,574

 

 

 

1,380,176

 

Consolidated:

 

 

 

 

 

 

 

 

Straight-line rent on lease income

 

24,495

 

 

 

20,300

 

 

 

10,788

 

Above/below market rent amortization, net

 

24,428

 

 

 

24,843

 

 

 

30,826

 

Management, transaction, and other fees

 

28,358

 

 

 

27,874

 

 

 

26,954

 

Add: Share of noncontrolling interests

 

12,079

 

 

 

11,859

 

 

 

10,865

 

Less: Share of unconsolidated real estate partnerships

 

( 153,703

)

 

 

( 147,546

)

 

 

( 137,143

)

Total revenues

$

1,553,524

 

 

 

1,453,904

 

 

 

1,322,466

 

(1) Operating expenses include Operating and maintenance, Ground rent and Termination expense

 

 

Year ended December 31,

 

 

2025

 

 

2024

 

 

2023

 

Reconciliation of NOI to Net income:

 

 

 

 

 

 

 

 

NOI

 

1,123,441

 

 

 

1,047,368

 

 

 

951,288

 

Consolidated:

 

 

 

 

 

 

 

 

Straight-line rent on lease income

 

24,495

 

 

 

20,300

 

 

 

10,788

 

Above/below market rent amortization, net

 

24,428

 

 

 

24,843

 

 

 

30,826

 

Management, transaction, and other fees

 

28,358

 

 

 

27,874

 

 

 

26,954

 

Straight-line rent on ground rent

 

( 1,343

)

 

 

( 1,350

)

 

 

( 1,405

)

Above/below market ground rent amortization

 

( 2,138

)

 

 

( 2,142

)

 

 

( 1,696

)

Depreciation and amortization

 

( 405,044

)

 

 

( 394,714

)

 

 

( 352,282

)

General and administrative

 

( 99,407

)

 

 

( 101,465

)

 

 

( 97,806

)

Other operating expenses

 

( 8,849

)

 

 

( 10,867

)

 

 

( 9,459

)

Other expense, net

 

( 175,613

)

 

 

( 154,260

)

 

 

( 147,824

)

Add: Share of noncontrolling interests excluded from NOI

 

8,400

 

 

 

8,293

 

 

 

7,571

 

Less: Equity in income of investments in real estate excluded from NOI

 

24,223

 

 

 

( 54,040

)

 

 

( 46,088

)

Net income

$

540,951

 

 

 

409,840

 

 

 

370,867

 

 

112

REGENCY CENTERS CORPORATION AND REGENCY CENTERS, L.P.
Notes to Consolidated Financial Statements
December 31, 2025
 

16. Commitments and Contingencies

Litigation
The Company is a party to litigation and other disputes that arise in the ordinary course of business. While the outcome of any particular lawsuit or dispute cannot be predicted with certainty, in the opinion of management, the Company's currently pending litigation and disputes are not expected to have a material adverse effect on the Company's consolidated financial position, results of operations, or liquidity. Legal fees are expensed as incurred.
Environmental
The Company is subject to numerous environmental laws and regulations. With respect to applicability to the Company, these pertain primarily to chemicals historically used by certain current and former dry cleaning tenants, the existence of asbestos in older shopping centers, underground petroleum storage tanks and other historic land uses. The Company believes that the ultimate disposition of currently known environmental matters will not have a material effect on its financial position, liquidity, or operations. The Company can give no assurance that existing environmental studies with respect to its shopping centers have revealed all potential environmental contamination; that its estimate of liabilities will not change as more information becomes available; that any previous owner, occupant or tenant did not create any material environmental condition not known to the Company; that the current environmental condition of the shopping centers will not be affected by tenants and occupants, by the condition of nearby properties, or by unrelated third parties; and that changes in applicable environmental laws and regulations or their interpretation will not result in additional environmental liability to the Company.
The Company had accrued liabilities of $ 19.2 million and $ 17.3 million for environmental assessment and remediation, which are included in Accounts payable, and other liabilities on the Company’s Consolidated Balance Sheets as of December 31, 2025 and 2024, respectively.
Letters of Credit
The Company has the right to issue letters of credit under the Line up to an aggregate amount not to exceed $ 50.0 million, which reduces the credit availability under the Line. These letters of credit are primarily issued as collateral on behalf of its captive insurance subsidiary and to facilitate the construction of development projects. The Company had $ 12.9 million and $ 10.9 million in letters of credit outstanding as of December 31, 2025, and 2024 , respectively.

113

REGENCY CENTERS CORPORATION AND REGENCY CENTERS, L.P.
Schedule III - Consolidated Real Estate and Accumulated Depreciation
December 31, 2025
(in thousands)
 

 

 

 

 

 

 

 

Initial Cost

 

 

 

 

 

Total Cost

 

 

 

 

 

 

 

 

 

 

Shopping Centers

 

State

 

Mortgages or
Encumbrances (1)

 

 

Land & Land
Improvements

 

 

Building &
Improvements

 

 

Cost
Capitalized
Subsequent to
Acquisition  (2)

 

 

Land & Land
Improvements

 

 

Building &
Improvements

 

 

Total

 

 

Accumulated
Depreciation

 

 

Year
Constructed
or Last Major
Renovation

 

 

Year
Acquired

 

111 Kraft Avenue

 

NY

 

$

—

 

 

 

1,220

 

 

 

3,932

 

 

 

129

 

 

 

1,220

 

 

 

4,061

 

 

 

5,281

 

 

 

( 266

)

 

 

1902

 

 

 

2023

 

1175 Third Avenue

 

NY

 

 

—

 

 

 

40,560

 

 

 

25,617

 

 

 

6,752

 

 

 

40,560

 

 

 

32,369

 

 

 

72,929

 

 

 

( 6,886

)

 

 

1995

 

 

 

2017

 

1225-1239 Second Ave

 

NY

 

 

—

 

 

 

23,033

 

 

 

17,173

 

 

 

( 87

)

 

 

23,033

 

 

 

17,086

 

 

 

40,119

 

 

 

( 3,831

)

 

 

1987

 

 

 

2017

 

22 Crescent Road

 

CT

 

 

—

 

 

 

2,198

 

 

 

272

 

 

 

( 318

)

 

 

2,152

 

 

 

—

 

 

 

2,152

 

 

 

—

 

 

 

1984

 

 

 

2017

 

260-270 Sawmill Road

 

NY

 

 

—

 

 

 

3,943

 

 

 

58

 

 

 

—

 

 

 

3,943

 

 

 

58

 

 

 

4,001

 

 

 

( 10

)

 

 

1953

 

 

 

2023

 

27 Purchase Street

 

NY

 

 

—

 

 

 

903

 

 

 

2,239

 

 

 

133

 

 

 

903

 

 

 

2,372

 

 

 

3,275

 

 

 

( 166

)

 

 

 

 

 

2023

 

410 South Broadway

 

NY

 

 

—

 

 

 

2,372

 

 

 

1,603

 

 

 

—

 

 

 

2,372

 

 

 

1,603

 

 

 

3,975

 

 

 

( 105

)

 

 

1936

 

 

 

2023

 

470 Main Street

 

CT

 

 

—

 

 

 

1,021

 

 

 

4,361

 

 

 

133

 

 

 

1,021

 

 

 

4,494

 

 

 

5,515

 

 

 

( 410

)

 

 

1972

 

 

 

2023

 

48 Purchase Street

 

NY

 

 

—

 

 

 

1,214

 

 

 

4,414

 

 

 

32

 

 

 

1,214

 

 

 

4,446

 

 

 

5,660

 

 

 

( 283

)

 

 

 

 

 

2023

 

4S Commons Town Center

 

CA

 

 

—

 

 

 

30,760

 

 

 

35,830

 

 

 

4,545

 

 

 

30,812

 

 

 

40,323

 

 

 

71,135

 

 

 

( 33,265

)

 

 

2004

 

 

 

2004

 

6401 Roosevelt

 

WA

 

 

—

 

 

 

2,685

 

 

 

934

 

 

 

356

 

 

 

2,685

 

 

 

1,290

 

 

 

3,975

 

 

 

( 248

)

 

 

1929

 

 

 

2019

 

90 - 30 Metropolitan Avenue

 

NY

 

 

—

 

 

 

16,614

 

 

 

24,171

 

 

 

598

 

 

 

16,614

 

 

 

24,769

 

 

 

41,383

 

 

 

( 6,318

)

 

 

2007

 

 

 

2017

 

91 Danbury Road

 

CT

 

 

—

 

 

 

732

 

 

 

851

 

 

 

20

 

 

 

732

 

 

 

871

 

 

 

1,603

 

 

 

( 247

)

 

 

1965

 

 

 

2017

 

970 High Ridge Center

 

CT

 

 

—

 

 

 

5,695

 

 

 

5,204

 

 

 

375

 

 

 

5,695

 

 

 

5,579

 

 

 

11,274

 

 

 

( 455

)

 

 

1960

 

 

 

2023

 

Airport Plaza

 

CT

 

 

—

 

 

 

1,293

 

 

 

11,119

 

 

 

35

 

 

 

1,293

 

 

 

11,154

 

 

 

12,447

 

 

 

( 825

)

 

 

1974

 

 

 

2023

 

Alafaya Village

 

FL

 

 

—

 

 

 

3,004

 

 

 

5,852

 

 

 

340

 

 

 

3,004

 

 

 

6,192

 

 

 

9,196

 

 

 

( 1,823

)

 

 

1986

 

 

 

2017

 

Alden Bridge

 

TX

 

 

( 26,000

)

 

 

17,014

 

 

 

21,958

 

 

 

881

 

 

 

17,014

 

 

 

22,839

 

 

 

39,853

 

 

 

( 4,186

)

 

 

1998

 

 

 

2002

 

Aldi Square

 

CT

 

 

—

 

 

 

6,394

 

 

 

1,704

 

 

 

( 28

)

 

 

6,394

 

 

 

1,676

 

 

 

8,070

 

 

 

( 242

)

 

 

2014

 

 

 

2023

 

Amerige Heights Town Center

 

CA

 

 

—

 

 

 

10,109

 

 

 

11,288

 

 

 

1,860

 

 

 

10,109

 

 

 

13,148

 

 

 

23,257

 

 

 

( 7,760

)

 

 

2000

 

 

 

2000

 

Anastasia Plaza

 

FL

 

 

—

 

 

 

9,065

 

 

 

—

 

 

 

17,378

 

 

 

6,793

 

 

 

19,650

 

 

 

26,443

 

 

 

( 2,280

)

 

In Process

 

 

 

1993

 

Apple Valley Square

 

MN

 

 

—

 

 

 

5,438

 

 

 

21,328

 

 

 

( 4,408

)

 

 

5,451

 

 

 

16,907

 

 

 

22,358

 

 

 

( 3,391

)

 

 

1998

 

 

 

2006

 

Arcadian Shopping Center

 

NY

 

 

—

 

 

 

14,546

 

 

 

26,716

 

 

 

697

 

 

 

14,546

 

 

 

27,413

 

 

 

41,959

 

 

 

( 2,156

)

 

 

1978

 

 

 

2023

 

Ashburn Farm Village Center

 

VA

 

 

—

 

 

 

10,418

 

 

 

21,185

 

 

 

11

 

 

 

10,418

 

 

 

21,196

 

 

 

31,614

 

 

 

( 180

)

 

 

1996

 

 

 

2025

 

Ashford Place

 

GA

 

 

—

 

 

 

2,584

 

 

 

9,865

 

 

 

2,380

 

 

 

2,584

 

 

 

12,245

 

 

 

14,829

 

 

 

( 10,358

)

 

 

1993

 

 

 

1997

 

Atlantic Village

 

FL

 

 

—

 

 

 

4,282

 

 

 

18,827

 

 

 

2,303

 

 

 

4,868

 

 

 

20,544

 

 

 

25,412

 

 

 

( 7,993

)

 

 

2014

 

 

 

2017

 

Avenida Biscayne

 

FL

 

 

—

 

 

 

88,098

 

 

 

20,771

 

 

 

19,325

 

 

 

94,992

 

 

 

33,202

 

 

 

128,194

 

 

 

( 5,853

)

 

In Process

 

 

 

2017

 

Aventura Shopping Center

 

FL

 

 

—

 

 

 

2,751

 

 

 

10,459

 

 

 

11,401

 

 

 

9,486

 

 

 

15,125

 

 

 

24,611

 

 

 

( 7,110

)

 

 

2017

 

 

 

1994

 

Baederwood Shopping Center

 

PA

 

 

( 24,365

)

 

 

12,016

 

 

 

33,556

 

 

 

1,044

 

 

 

12,016

 

 

 

34,600

 

 

 

46,616

 

 

 

( 4,600

)

 

 

1999

 

 

 

2023

 

Balboa Mesa Shopping Center

 

CA

 

 

—

 

 

 

23,074

 

 

 

33,838

 

 

 

14,552

 

 

 

27,758

 

 

 

43,706

 

 

 

71,464

 

 

 

( 23,930

)

 

 

2014

 

 

 

2012

 

Banco Popular Building

 

FL

 

 

—

 

 

 

2,160

 

 

 

1,137

 

 

 

( 1,294

)

 

 

2,003

 

 

 

—

 

 

 

2,003

 

 

 

—

 

 

 

1971

 

 

 

2017

 

Baybrook East

 

TX

 

 

—

 

 

 

17,144

 

 

 

8,429

 

 

 

11

 

 

 

17,144

 

 

 

8,440

 

 

 

25,584

 

 

 

( 128

)

 

 

2025

 

 

 

2025

 

Belleview Square

 

CO

 

 

—

 

 

 

8,132

 

 

 

9,756

 

 

 

5,308

 

 

 

8,323

 

 

 

14,873

 

 

 

23,196

 

 

 

( 11,969

)

 

 

2013

 

 

 

2004

 

Belmont Chase

 

VA

 

 

—

 

 

 

13,881

 

 

 

17,193

 

 

 

( 122

)

 

 

14,372

 

 

 

16,580

 

 

 

30,952

 

 

 

( 11,531

)

 

 

2014

 

 

 

2014

 

Berkshire Commons

 

FL

 

 

—

 

 

 

2,295

 

 

 

9,551

 

 

 

3,159

 

 

 

2,965

 

 

 

12,040

 

 

 

15,005

 

 

 

( 10,566

)

 

 

1992

 

 

 

1994

 

Bethany Park Place

 

TX

 

 

( 10,200

)

 

 

4,832

 

 

 

12,405

 

 

 

549

 

 

 

4,832

 

 

 

12,954

 

 

 

17,786

 

 

 

( 2,465

)

 

 

1998

 

 

 

1998

 

Bethel Hub Center

 

CT

 

 

—

 

 

 

1,738

 

 

 

3,918

 

 

 

178

 

 

 

1,738

 

 

 

4,096

 

 

 

5,834

 

 

 

( 354

)

 

 

1957

 

 

 

2023

 

Biltmore Shopping Center

 

NY

 

 

—

 

 

 

4,632

 

 

 

3,766

 

 

 

358

 

 

 

4,632

 

 

 

4,124

 

 

 

8,756

 

 

 

( 286

)

 

 

1967

 

 

 

2023

 

Bird 107 Plaza

 

FL

 

 

—

 

 

 

10,371

 

 

 

5,136

 

 

 

168

 

 

 

10,371

 

 

 

5,304

 

 

 

15,675

 

 

 

( 1,878

)

 

 

1990

 

 

 

2017

 

Bird Ludlam

 

FL

 

 

—

 

 

 

42,663

 

 

 

38,481

 

 

 

1,470

 

 

 

42,663

 

 

 

39,951

 

 

 

82,614

 

 

 

( 12,355

)

 

 

1998

 

 

 

2017

 

Black Rock

 

CT

 

 

( 14,939

)

 

 

22,251

 

 

 

20,815

 

 

 

763

 

 

 

22,251

 

 

 

21,578

 

 

 

43,829

 

 

 

( 8,730

)

 

 

1996

 

 

 

2014

 

Blakeney Town Center

 

NC

 

 

—

 

 

 

82,411

 

 

 

89,165

 

 

 

7,297

 

 

 

82,416

 

 

 

96,457

 

 

 

178,873

 

 

 

( 15,050

)

 

 

2006

 

 

 

2021

 

Bloomfield Crossing

 

NJ

 

 

—

 

 

 

3,365

 

 

 

11,453

 

 

 

6

 

 

 

3,365

 

 

 

11,459

 

 

 

14,824

 

 

 

( 919

)

 

 

 

 

 

2023

 

Bloomingdale Square

 

FL

 

 

—

 

 

 

3,940

 

 

 

14,912

 

 

 

23,786

 

 

 

8,639

 

 

 

33,999

 

 

 

42,638

 

 

 

( 17,022

)

 

 

2021

 

 

 

1998

 

Blossom Valley

 

CA

 

 

( 22,300

)

 

 

31,988

 

 

 

5,850

 

 

 

1,169

 

 

 

31,988

 

 

 

7,019

 

 

 

39,007

 

 

 

( 1,516

)

 

 

1992

 

 

 

1999

 

Boca Village Square

 

FL

 

 

—

 

 

 

43,888

 

 

 

9,726

 

 

 

469

 

 

 

43,888

 

 

 

10,195

 

 

 

54,083

 

 

 

( 4,378

)

 

 

2014

 

 

 

2017

 

Boonton ACME Shopping Center

 

NJ

 

 

( 10,123

)

 

 

8,664

 

 

 

9,601

 

 

 

26

 

 

 

8,664

 

 

 

9,627

 

 

 

18,291

 

 

 

( 825

)

 

 

1999

 

 

 

2023

 

114

REGENCY CENTERS CORPORATION AND REGENCY CENTERS, L.P.
Schedule III - Consolidated Real Estate and Accumulated Depreciation
December 31, 2025
(in thousands)
 

 

 

 

 

 

 

 

Initial Cost

 

 

 

 

 

Total Cost

 

 

 

 

 

 

 

 

 

 

Shopping Centers

 

State

 

Mortgages or
Encumbrances (1)

 

 

Land & Land
Improvements

 

 

Building &
Improvements

 

 

Cost
Capitalized
Subsequent to
Acquisition  (2)

 

 

Land & Land
Improvements

 

 

Building &
Improvements

 

 

Total

 

 

Accumulated
Depreciation

 

 

Year
Constructed
or Last Major
Renovation

 

 

Year
Acquired

 

Boulevard Center

 

CO

 

 

—

 

 

 

3,659

 

 

 

10,787

 

 

 

5,360

 

 

 

3,659

 

 

 

16,147

 

 

 

19,806

 

 

 

( 10,859

)

 

 

1986

 

 

 

1999

 

Boynton Lakes Plaza

 

FL

 

 

—

 

 

 

2,628

 

 

 

11,236

 

 

 

5,409

 

 

 

3,597

 

 

 

15,676

 

 

 

19,273

 

 

 

( 10,873

)

 

 

2012

 

 

 

1997

 

Boynton Plaza

 

FL

 

 

—

 

 

 

12,879

 

 

 

20,713

 

 

 

910

 

 

 

12,879

 

 

 

21,623

 

 

 

34,502

 

 

 

( 6,987

)

 

 

2015

 

 

 

2017

 

Brentwood Place

 

TN

 

 

( 43,500

)

 

 

38,644

 

 

 

86,065

 

 

 

139

 

 

 

38,644

 

 

 

86,204

 

 

 

124,848

 

 

 

( 2,559

)

 

2007 / 2016

 

 

 

2025

 

Brentwood Plaza

 

MO

 

 

—

 

 

 

2,788

 

 

 

3,473

 

 

 

832

 

 

 

2,788

 

 

 

4,305

 

 

 

7,093

 

 

 

( 2,164

)

 

 

2002

 

 

 

2007

 

Briarcliff La Vista

 

GA

 

 

—

 

 

 

694

 

 

 

3,292

 

 

 

1,536

 

 

 

694

 

 

 

4,828

 

 

 

5,522

 

 

 

( 3,691

)

 

 

1962

 

 

 

1997

 

Briarcliff Village

 

GA

 

 

—

 

 

 

4,597

 

 

 

24,836

 

 

 

6,164

 

 

 

5,519

 

 

 

30,078

 

 

 

35,597

 

 

 

( 24,775

)

 

 

1990

 

 

 

1997

 

Brick Walk

 

CT

 

 

( 30,234

)

 

 

25,299

 

 

 

41,995

 

 

 

2,807

 

 

 

25,299

 

 

 

44,802

 

 

 

70,101

 

 

 

( 16,215

)

 

 

2007

 

 

 

2014

 

BridgeMill Market

 

GA

 

 

—

 

 

 

7,521

 

 

 

13,306

 

 

 

1,802

 

 

 

7,522

 

 

 

15,107

 

 

 

22,629

 

 

 

( 5,561

)

 

 

2000

 

 

 

2017

 

Bridgepark Plaza

 

CA

 

 

( 17,383

)

 

 

26,014

 

 

 

38,774

 

 

 

53

 

 

 

26,014

 

 

 

38,827

 

 

 

64,841

 

 

 

( 773

)

 

 

2021

 

 

 

2025

 

Bridgeton

 

MO

 

 

—

 

 

 

3,033

 

 

 

8,137

 

 

 

806

 

 

 

3,067

 

 

 

8,909

 

 

 

11,976

 

 

 

( 4,547

)

 

 

2005

 

 

 

2007

 

Brighten Park

 

GA

 

 

—

 

 

 

3,983

 

 

 

18,687

 

 

 

12,259

 

 

 

3,887

 

 

 

31,042

 

 

 

34,929

 

 

 

( 25,418

)

 

 

2016

 

 

 

1997

 

Broadway Plaza

 

NY

 

 

—

 

 

 

40,723

 

 

 

42,170

 

 

 

3,518

 

 

 

40,723

 

 

 

45,688

 

 

 

86,411

 

 

 

( 13,444

)

 

 

2014

 

 

 

2017

 

Brooklyn Station on Riverside

 

FL

 

 

—

 

 

 

7,019

 

 

 

8,688

 

 

 

568

 

 

 

6,998

 

 

 

9,277

 

 

 

16,275

 

 

 

( 4,228

)

 

 

2013

 

 

 

2013

 

Brookside Plaza

 

CT

 

 

—

 

 

 

35,161

 

 

 

17,494

 

 

 

10,171

 

 

 

36,238

 

 

 

26,588

 

 

 

62,826

 

 

 

( 10,246

)

 

 

2006

 

 

 

2017

 

Buckhead Court

 

GA

 

 

—

 

 

 

1,417

 

 

 

7,432

 

 

 

4,831

 

 

 

1,417

 

 

 

12,263

 

 

 

13,680

 

 

 

( 11,147

)

 

 

1984

 

 

 

1997

 

Buckhead Landing

 

GA

 

 

—

 

 

 

45,502

 

 

 

16,642

 

 

 

21,883

 

 

 

51,819

 

 

 

32,208

 

 

 

84,027

 

 

 

( 5,393

)

 

1998 / 2024

 

 

 

2017

 

Buckhead Station

 

GA

 

 

—

 

 

 

70,411

 

 

 

36,518

 

 

 

3,277

 

 

 

70,448

 

 

 

39,758

 

 

 

110,206

 

 

 

( 13,410

)

 

 

1996

 

 

 

2017

 

Buckley Square

 

CO

 

 

—

 

 

 

2,970

 

 

 

5,978

 

 

 

1,901

 

 

 

2,921

 

 

 

7,928

 

 

 

10,849

 

 

 

( 5,716

)

 

 

1978

 

 

 

1999

 

Caligo Crossing

 

FL

 

 

—

 

 

 

2,459

 

 

 

4,897

 

 

 

187

 

 

 

2,546

 

 

 

4,997

 

 

 

7,543

 

 

 

( 4,521

)

 

 

2007

 

 

 

2007

 

Cambridge Square

 

GA

 

 

—

 

 

 

774

 

 

 

4,347

 

 

 

15,673

 

 

 

6,298

 

 

 

14,496

 

 

 

20,794

 

 

 

( 2,001

)

 

In Process

 

 

 

1996

 

Carmel Commons

 

NC

 

 

—

 

 

 

2,466

 

 

 

12,548

 

 

 

6,285

 

 

 

3,419

 

 

 

17,880

 

 

 

21,299

 

 

 

( 14,000

)

 

 

2012

 

 

 

1997

 

Carmel ShopRite Plaza

 

NY

 

 

—

 

 

 

5,828

 

 

 

15,321

 

 

 

1,041

 

 

 

5,828

 

 

 

16,362

 

 

 

22,190

 

 

 

( 1,170

)

 

 

1981

 

 

 

2023

 

Carriage Gate

 

FL

 

 

—

 

 

 

833

 

 

 

4,974

 

 

 

3,393

 

 

 

1,302

 

 

 

7,898

 

 

 

9,200

 

 

 

( 7,680

)

 

 

2013

 

 

 

1994

 

Carytown Exchange

 

VA

 

 

—

 

 

 

24,121

 

 

 

22,502

 

 

 

( 25

)

 

 

24,122

 

 

 

22,476

 

 

 

46,598

 

 

 

( 7,289

)

 

 

2022

 

 

 

2018

 

Cashmere Corners

 

FL

 

 

—

 

 

 

3,187

 

 

 

9,397

 

 

 

775

 

 

 

3,187

 

 

 

10,172

 

 

 

13,359

 

 

 

( 4,101

)

 

 

2016

 

 

 

2017

 

Cedar Commons

 

MN

 

 

—

 

 

 

4,704

 

 

 

16,748

 

 

 

629

 

 

 

4,716

 

 

 

17,365

 

 

 

22,081

 

 

 

( 3,146

)

 

 

1999

 

 

 

2011

 

Cedar Hill Shopping Center

 

NJ

 

 

( 6,585

)

 

 

7,266

 

 

 

9,372

 

 

 

451

 

 

 

7,266

 

 

 

9,823

 

 

 

17,089

 

 

 

( 828

)

 

 

1971

 

 

 

2023

 

Centerplace of Greeley III

 

CO

 

 

—

 

 

 

6,661

 

 

 

11,502

 

 

 

754

 

 

 

4,607

 

 

 

14,310

 

 

 

18,917

 

 

 

( 8,679

)

 

 

2007

 

 

 

2007

 

Charlotte Square

 

FL

 

 

—

 

 

 

1,141

 

 

 

6,845

 

 

 

1,490

 

 

 

1,141

 

 

 

8,335

 

 

 

9,476

 

 

 

( 3,790

)

 

 

1980

 

 

 

2017

 

Chasewood Plaza

 

FL

 

 

—

 

 

 

4,612

 

 

 

20,829

 

 

 

7,056

 

 

 

6,886

 

 

 

25,611

 

 

 

32,497

 

 

 

( 23,823

)

 

 

2015

 

 

 

1993

 

Chastain Square

 

GA

 

 

—

 

 

 

30,074

 

 

 

12,644

 

 

 

2,519

 

 

 

30,074

 

 

 

15,163

 

 

 

45,237

 

 

 

( 6,370

)

 

 

2001

 

 

 

2017

 

Cherry Grove

 

OH

 

 

—

 

 

 

3,533

 

 

 

15,862

 

 

 

6,663

 

 

 

3,533

 

 

 

22,525

 

 

 

26,058

 

 

 

( 16,093

)

 

 

2012

 

 

 

1998

 

Chestnut Ridge Shopping Center

 

NJ

 

 

—

 

 

 

12,927

 

 

 

5,530

 

 

 

51

 

 

 

12,927

 

 

 

5,581

 

 

 

18,508

 

 

 

( 220

)

 

 

1965

 

 

 

2025

 

Chilmark Shopping Center

 

NY

 

 

—

 

 

 

4,952

 

 

 

15,407

 

 

 

202

 

 

 

4,952

 

 

 

15,609

 

 

 

20,561

 

 

 

( 1,170

)

 

 

1963

 

 

 

2023

 

Chimney Rock

 

NJ

 

 

—

 

 

 

23,623

 

 

 

48,200

 

 

 

1,352

 

 

 

23,623

 

 

 

49,552

 

 

 

73,175

 

 

 

( 25,633

)

 

 

2016

 

 

 

2016

 

Circle Center West

 

CA

 

 

—

 

 

 

22,930

 

 

 

9,028

 

 

 

3,715

 

 

 

23,173

 

 

 

12,500

 

 

 

35,673

 

 

 

( 3,694

)

 

 

1989

 

 

 

2017

 

Circle Marina Shops & Mrktplc. (fka Circle Marina Center)

 

CA

 

 

—

 

 

 

29,303

 

 

 

18,437

 

 

 

14,726

 

 

 

32,173

 

 

 

30,293

 

 

 

62,466

 

 

 

( 4,970

)

 

 

1994

 

 

 

2019

 

CityLine Market

 

TX

 

 

—

 

 

 

12,208

 

 

 

15,839

 

 

 

590

 

 

 

12,306

 

 

 

16,331

 

 

 

28,637

 

 

 

( 8,169

)

 

 

2014

 

 

 

2014

 

CityLine Market Phase II

 

TX

 

 

—

 

 

 

2,744

 

 

 

3,081

 

 

 

110

 

 

 

2,744

 

 

 

3,191

 

 

 

5,935

 

 

 

( 1,414

)

 

 

2015

 

 

 

2015

 

Clayton Valley Shopping Center

 

CA

 

 

—

 

 

 

24,189

 

 

 

35,422

 

 

 

3,177

 

 

 

24,538

 

 

 

38,250

 

 

 

62,788

 

 

 

( 32,543

)

 

 

2004

 

 

 

2003

 

Clocktower Plaza Shopping Ctr

 

NY

 

 

—

 

 

 

49,630

 

 

 

19,624

 

 

 

629

 

 

 

49,630

 

 

 

20,253

 

 

 

69,883

 

 

 

( 6,562

)

 

 

1995

 

 

 

2017

 

Clybourn Commons

 

IL

 

 

—

 

 

 

15,056

 

 

 

5,594

 

 

 

618

 

 

 

15,056

 

 

 

6,212

 

 

 

21,268

 

 

 

( 2,619

)

 

 

1999

 

 

 

2014

 

Cochran's Crossing

 

TX

 

 

—

 

 

 

13,154

 

 

 

12,315

 

 

 

2,711

 

 

 

13,154

 

 

 

15,026

 

 

 

28,180

 

 

 

( 13,065

)

 

 

1994

 

 

 

2002

 

Compo Acres Shopping Center

 

CT

 

 

—

 

 

 

28,627

 

 

 

10,395

 

 

 

1,273

 

 

 

28,627

 

 

 

11,668

 

 

 

40,295

 

 

 

( 3,564

)

 

 

2011

 

 

 

2017

 

115

REGENCY CENTERS CORPORATION AND REGENCY CENTERS, L.P.
Schedule III - Consolidated Real Estate and Accumulated Depreciation
December 31, 2025
(in thousands)
 

 

 

 

 

 

 

 

Initial Cost

 

 

 

 

 

Total Cost

 

 

 

 

 

 

 

 

 

 

Shopping Centers

 

State

 

Mortgages or
Encumbrances (1)

 

 

Land & Land
Improvements

 

 

Building &
Improvements

 

 

Cost
Capitalized
Subsequent to
Acquisition  (2)

 

 

Land & Land
Improvements

 

 

Building &
Improvements

 

 

Total

 

 

Accumulated
Depreciation

 

 

Year
Constructed
or Last Major
Renovation

 

 

Year
Acquired

 

Compo Shopping Center

 

CT

 

 

—

 

 

 

15,651

 

 

 

29,034

 

 

 

228

 

 

 

15,651

 

 

 

29,262

 

 

 

44,913

 

 

 

( 1,712

)

 

 

1953

 

 

 

2024

 

Concord Shopping Plaza

 

FL

 

 

—

 

 

 

30,819

 

 

 

36,506

 

 

 

2,197

 

 

 

31,272

 

 

 

38,250

 

 

 

69,522

 

 

 

( 10,963

)

 

 

1993

 

 

 

2017

 

Copps Hill Plaza

 

CT

 

 

—

 

 

 

29,515

 

 

 

40,673

 

 

 

8,605

 

 

 

29,514

 

 

 

49,279

 

 

 

78,793

 

 

 

( 13,147

)

 

 

2002

 

 

 

2017

 

Coral Reef Shopping Center

 

FL

 

 

—

 

 

 

14,922

 

 

 

15,200

 

 

 

2,814

 

 

 

15,332

 

 

 

17,604

 

 

 

32,936

 

 

 

( 6,255

)

 

 

1990

 

 

 

2017

 

Corkscrew Village

 

FL

 

 

—

 

 

 

8,407

 

 

 

8,004

 

 

 

888

 

 

 

8,407

 

 

 

8,892

 

 

 

17,299

 

 

 

( 5,117

)

 

 

1997

 

 

 

2007

 

Cornerstone Square

 

GA

 

 

—

 

 

 

1,772

 

 

 

6,944

 

 

 

2,136

 

 

 

1,772

 

 

 

9,080

 

 

 

10,852

 

 

 

( 7,798

)

 

 

1990

 

 

 

1997

 

Corral Hollow

 

CA

 

 

—

 

 

 

8,887

 

 

 

24,121

 

 

 

2,476

 

 

 

8,932

 

 

 

26,552

 

 

 

35,484

 

 

 

( 3,510

)

 

 

2000

 

 

 

2000

 

Corvallis Market Center

 

OR

 

 

—

 

 

 

6,674

 

 

 

12,244

 

 

 

1,050

 

 

 

6,696

 

 

 

13,272

 

 

 

19,968

 

 

 

( 9,074

)

 

 

2006

 

 

 

2006

 

Cos Cob Commons

 

CT

 

 

—

 

 

 

6,608

 

 

 

14,967

 

 

 

705

 

 

 

6,608

 

 

 

15,672

 

 

 

22,280

 

 

 

( 1,185

)

 

 

1986

 

 

 

2023

 

Cos Cob Plaza

 

CT

 

 

( 3,577

)

 

 

4,030

 

 

 

4,225

 

 

 

74

 

 

 

4,030

 

 

 

4,299

 

 

 

8,329

 

 

 

( 324

)

 

 

1947

 

 

 

2023

 

Country Walk Plaza

 

FL

 

 

—

 

 

 

18,713

 

 

 

20,373

 

 

 

460

 

 

 

18,713

 

 

 

20,833

 

 

 

39,546

 

 

 

( 5,914

)

 

 

2008

 

 

 

2017

 

Countryside Shops

 

FL

 

 

—

 

 

 

17,982

 

 

 

35,574

 

 

 

16,274

 

 

 

23,175

 

 

 

46,655

 

 

 

69,830

 

 

 

( 19,566

)

 

1991 / 2018

 

 

 

2017

 

Courtyard Shopping Center

 

FL

 

 

—

 

 

 

5,867

 

 

 

4

 

 

 

3

 

 

 

5,867

 

 

 

7

 

 

 

5,874

 

 

 

( 3

)

 

 

1987

 

 

 

1993

 

Culver Center

 

CA

 

 

—

 

 

 

108,841

 

 

 

32,308

 

 

 

4,240

 

 

 

108,841

 

 

 

36,548

 

 

 

145,389

 

 

 

( 12,100

)

 

 

2000

 

 

 

2017

 

Danbury Green

 

CT

 

 

—

 

 

 

30,303

 

 

 

19,255

 

 

 

2,406

 

 

 

30,305

 

 

 

21,659

 

 

 

51,964

 

 

 

( 6,680

)

 

 

2006

 

 

 

2017

 

Danbury Square

 

CT

 

 

—

 

 

 

6,592

 

 

 

23,543

 

 

 

4,362

 

 

 

6,697

 

 

 

27,800

 

 

 

34,497

 

 

 

( 1,928

)

 

 

1987

 

 

 

2023

 

Dardenne Crossing

 

MO

 

 

—

 

 

 

4,194

 

 

 

4,005

 

 

 

912

 

 

 

4,343

 

 

 

4,768

 

 

 

9,111

 

 

 

( 3,041

)

 

 

1996

 

 

 

2007

 

Darinor Plaza

 

CT

 

 

—

 

 

 

693

 

 

 

32,140

 

 

 

1,095

 

 

 

711

 

 

 

33,217

 

 

 

33,928

 

 

 

( 10,603

)

 

 

1978

 

 

 

2017

 

DeCicco's Plaza

 

NY

 

 

—

 

 

 

8,890

 

 

 

23,368

 

 

 

1,975

 

 

 

8,890

 

 

 

25,343

 

 

 

34,233

 

 

 

( 1,850

)

 

 

1978

 

 

 

2023

 

Diablo Plaza

 

CA

 

 

—

 

 

 

5,300

 

 

 

8,181

 

 

 

3,481

 

 

 

5,300

 

 

 

11,662

 

 

 

16,962

 

 

 

( 7,931

)

 

 

1982

 

 

 

1999

 

District Shops of Pelham Manor

 

NY

 

 

—

 

 

 

4,708

 

 

 

6,243

 

 

 

209

 

 

 

4,711

 

 

 

6,449

 

 

 

11,160

 

 

 

( 482

)

 

 

1960

 

 

 

2023

 

Dunwoody Hall

 

GA

 

 

( 13,800

)

 

 

15,145

 

 

 

12,110

 

 

 

957

 

 

 

15,145

 

 

 

13,067

 

 

 

28,212

 

 

 

( 2,459

)

 

 

1986

 

 

 

1997

 

Dunwoody Village

 

GA

 

 

—

 

 

 

3,342

 

 

 

15,934

 

 

 

8,703

 

 

 

3,417

 

 

 

24,562

 

 

 

27,979

 

 

 

( 20,203

)

 

 

1975

 

 

 

1997

 

East Meadow Plaza

 

NY

 

 

—

 

 

 

13,135

 

 

 

25,070

 

 

 

8,831

 

 

 

13,186

 

 

 

33,850

 

 

 

47,036

 

 

 

( 5,094

)

 

In Process

 

 

 

2023

 

East Pointe

 

OH

 

 

—

 

 

 

1,730

 

 

 

7,189

 

 

 

2,727

 

 

 

1,941

 

 

 

9,705

 

 

 

11,646

 

 

 

( 8,285

)

 

 

2014

 

 

 

1998

 

East San Marco

 

FL

 

 

—

 

 

 

4,897

 

 

 

14,933

 

 

 

( 141

)

 

 

4,752

 

 

 

14,937

 

 

 

19,689

 

 

 

( 2,107

)

 

 

2022

 

 

 

2007

 

Eastchester Plaza

 

NY

 

 

—

 

 

 

5,017

 

 

 

7,379

 

 

 

107

 

 

 

5,017

 

 

 

7,486

 

 

 

12,503

 

 

 

( 542

)

 

 

1963

 

 

 

2023

 

Eastport

 

NY

 

 

—

 

 

 

2,985

 

 

 

5,649

 

 

 

1,087

 

 

 

2,947

 

 

 

6,774

 

 

 

9,721

 

 

 

( 1,439

)

 

 

1980

 

 

 

2021

 

El Camino Shopping Center

 

CA

 

 

—

 

 

 

7,600

 

 

 

11,538

 

 

 

16,063

 

 

 

10,328

 

 

 

24,873

 

 

 

35,201

 

 

 

( 16,384

)

 

 

2017

 

 

 

1999

 

El Cerrito Plaza

 

CA

 

 

—

 

 

 

11,025

 

 

 

27,371

 

 

 

9,798

 

 

 

11,025

 

 

 

37,169

 

 

 

48,194

 

 

 

( 18,652

)

 

 

2000

 

 

 

2000

 

El Norte Pkwy Plaza

 

CA

 

 

—

 

 

 

2,834

 

 

 

7,370

 

 

 

3,443

 

 

 

3,263

 

 

 

10,384

 

 

 

13,647

 

 

 

( 7,803

)

 

 

2013

 

 

 

1999

 

Emerson Plaza

 

NJ

 

 

—

 

 

 

8,615

 

 

 

7,835

 

 

 

553

 

 

 

8,699

 

 

 

8,304

 

 

 

17,003

 

 

 

( 1,392

)

 

 

1981

 

 

 

2023

 

Encina Grande

 

CA

 

 

—

 

 

 

5,040

 

 

 

11,572

 

 

 

20,680

 

 

 

10,518

 

 

 

26,774

 

 

 

37,292

 

 

 

( 20,326

)

 

 

2016

 

 

 

1999

 

Fairfield Center

 

CT

 

 

—

 

 

 

6,731

 

 

 

29,420

 

 

 

2,326

 

 

 

6,731

 

 

 

31,746

 

 

 

38,477

 

 

 

( 11,061

)

 

 

2000

 

 

 

2014

 

Fairfield Crossroads

 

CT

 

 

—

 

 

 

9,982

 

 

 

9,796

 

 

 

18

 

 

 

9,982

 

 

 

9,814

 

 

 

19,796

 

 

 

( 835

)

 

 

1995

 

 

 

2023

 

Falcon Marketplace

 

CO

 

 

—

 

 

 

1,340

 

 

 

4,168

 

 

 

602

 

 

 

1,246

 

 

 

4,864

 

 

 

6,110

 

 

 

( 3,565

)

 

 

2005

 

 

 

2005

 

Fellsway Plaza

 

MA

 

 

( 33,727

)

 

 

30,712

 

 

 

7,327

 

 

 

10,645

 

 

 

35,258

 

 

 

13,426

 

 

 

48,684

 

 

 

( 10,425

)

 

 

2016

 

 

 

2013

 

Ferry Street Plaza

 

NJ

 

 

( 8,131

)

 

 

7,960

 

 

 

24,439

 

 

 

246

 

 

 

7,960

 

 

 

24,685

 

 

 

32,645

 

 

 

( 1,824

)

 

 

1995

 

 

 

2023

 

Firstfield Shopping Center

 

MD

 

 

—

 

 

 

5,003

 

 

 

13,808

 

 

 

26

 

 

 

5,015

 

 

 

13,822

 

 

 

18,837

 

 

 

( 113

)

 

 

2014

 

 

 

2025

 

Fleming Island

 

FL

 

 

—

 

 

 

3,077

 

 

 

11,587

 

 

 

4,009

 

 

 

3,111

 

 

 

15,562

 

 

 

18,673

 

 

 

( 10,829

)

 

 

2000

 

 

 

1998

 

Fountain Square

 

FL

 

 

—

 

 

 

29,722

 

 

 

29,041

 

 

 

568

 

 

 

29,784

 

 

 

29,547

 

 

 

59,331

 

 

 

( 17,739

)

 

 

2013

 

 

 

2013

 

French Valley Village Center

 

CA

 

 

—

 

 

 

11,924

 

 

 

16,856

 

 

 

777

 

 

 

11,822

 

 

 

17,735

 

 

 

29,557

 

 

 

( 16,922

)

 

 

2004

 

 

 

2004

 

Friars Mission Center

 

CA

 

 

—

 

 

 

6,660

 

 

 

28,021

 

 

 

3,407

 

 

 

6,660

 

 

 

31,428

 

 

 

38,088

 

 

 

( 21,264

)

 

 

1989

 

 

 

1999

 

Gardens Square

 

FL

 

 

—

 

 

 

2,136

 

 

 

8,273

 

 

 

878

 

 

 

1,775

 

 

 

9,512

 

 

 

11,287

 

 

 

( 6,795

)

 

 

1991

 

 

 

1997

 

Gateway Shopping Center

 

PA

 

 

—

 

 

 

52,665

 

 

 

7,134

 

 

 

13,887

 

 

 

55,087

 

 

 

18,599

 

 

 

73,686

 

 

 

( 22,900

)

 

 

2016

 

 

 

2004

 

Gelson's Westlake Market Plaza

 

CA

 

 

—

 

 

 

3,157

 

 

 

11,153

 

 

 

6,897

 

 

 

4,654

 

 

 

16,553

 

 

 

21,207

 

 

 

( 11,667

)

 

 

2016

 

 

 

2002

 

116

REGENCY CENTERS CORPORATION AND REGENCY CENTERS, L.P.
Schedule III - Consolidated Real Estate and Accumulated Depreciation
December 31, 2025
(in thousands)
 

 

 

 

 

 

 

 

Initial Cost

 

 

 

 

 

Total Cost

 

 

 

 

 

 

 

 

 

 

Shopping Centers

 

State

 

Mortgages or
Encumbrances (1)

 

 

Land & Land
Improvements

 

 

Building &
Improvements

 

 

Cost
Capitalized
Subsequent to
Acquisition  (2)

 

 

Land & Land
Improvements

 

 

Building &
Improvements

 

 

Total

 

 

Accumulated
Depreciation

 

 

Year
Constructed
or Last Major
Renovation

 

 

Year
Acquired

 

Glen Oak Plaza

 

IL

 

 

—

 

 

 

4,103

 

 

 

12,951

 

 

 

2,413

 

 

 

4,124

 

 

 

15,343

 

 

 

19,467

 

 

 

( 7,030

)

 

 

1967

 

 

 

2010

 

Glenwood Green

 

NJ

 

 

—

 

 

 

26,463

 

 

 

28,543

 

 

 

1

 

 

 

26,463

 

 

 

28,544

 

 

 

55,007

 

 

 

( 4,449

)

 

 

2024

 

 

 

2023

 

Glenwood Village

 

NC

 

 

—

 

 

 

1,194

 

 

 

5,381

 

 

 

891

 

 

 

1,194

 

 

 

6,272

 

 

 

7,466

 

 

 

( 5,417

)

 

 

1983

 

 

 

1997

 

Golden Hills Plaza

 

CA

 

 

—

 

 

 

12,699

 

 

 

18,482

 

 

 

4,208

 

 

 

11,521

 

 

 

23,868

 

 

 

35,389

 

 

 

( 15,667

)

 

 

2017

 

 

 

2006

 

Grand Ridge Plaza

 

WA

 

 

—

 

 

 

24,208

 

 

 

61,033

 

 

 

6,752

 

 

 

24,918

 

 

 

67,075

 

 

 

91,993

 

 

 

( 38,524

)

 

 

2018

 

 

 

2012

 

Greenwich Commons

 

CT

 

 

( 4,461

)

 

 

3,831

 

 

 

6,990

 

 

 

( 22

)

 

 

3,831

 

 

 

6,968

 

 

 

10,799

 

 

 

( 472

)

 

 

1961

 

 

 

2023

 

Greenwood Shopping Centre

 

FL

 

 

—

 

 

 

7,777

 

 

 

24,829

 

 

 

1,205

 

 

 

7,777

 

 

 

26,034

 

 

 

33,811

 

 

 

( 8,998

)

 

 

1994

 

 

 

2017

 

H Mart Plaza

 

NJ

 

 

—

 

 

 

1,296

 

 

 

2,469

 

 

 

—

 

 

 

1,296

 

 

 

2,469

 

 

 

3,765

 

 

 

( 169

)

 

 

1967

 

 

 

2023

 

Hancock

 

TX

 

 

—

 

 

 

8,232

 

 

 

28,260

 

 

 

( 9,585

)

 

 

4,604

 

 

 

22,303

 

 

 

26,907

 

 

 

( 12,097

)

 

 

1998

 

 

 

1999

 

Harpeth Village Fieldstone

 

TN

 

 

—

 

 

 

2,284

 

 

 

9,443

 

 

 

1,587

 

 

 

2,284

 

 

 

11,030

 

 

 

13,314

 

 

 

( 7,431

)

 

 

1998

 

 

 

1997

 

Harrison Shopping Square

 

NY

 

 

—

 

 

 

6,034

 

 

 

5,195

 

 

 

659

 

 

 

6,353

 

 

 

5,535

 

 

 

11,888

 

 

 

( 416

)

 

 

1958

 

 

 

2023

 

Hasley Canyon Village

 

CA

 

 

( 16,000

)

 

 

17,630

 

 

 

8,231

 

 

 

240

 

 

 

17,630

 

 

 

8,471

 

 

 

26,101

 

 

 

( 1,543

)

 

 

2003

 

 

 

2003

 

Heritage 202 Center

 

NY

 

 

—

 

 

 

1,694

 

 

 

5,901

 

 

 

368

 

 

 

1,695

 

 

 

6,268

 

 

 

7,963

 

 

 

( 476

)

 

 

1989

 

 

 

2023

 

Heritage Plaza

 

CA

 

 

—

 

 

 

12,390

 

 

 

26,097

 

 

 

15,348

 

 

 

12,215

 

 

 

41,620

 

 

 

53,835

 

 

 

( 25,173

)

 

 

2012

 

 

 

1999

 

Hershey

 

PA

 

 

—

 

 

 

7

 

 

 

808

 

 

 

13

 

 

 

7

 

 

 

821

 

 

 

828

 

 

 

( 670

)

 

 

2000

 

 

 

2000

 

Hewlett Crossing I & II

 

NY

 

 

—

 

 

 

11,850

 

 

 

18,205

 

 

 

2,554

 

 

 

11,850

 

 

 

20,759

 

 

 

32,609

 

 

 

( 4,597

)

 

 

1954

 

 

 

2018

 

Hibernia Pavilion

 

FL

 

 

—

 

 

 

4,929

 

 

 

5,065

 

 

 

353

 

 

 

4,929

 

 

 

5,418

 

 

 

10,347

 

 

 

( 4,772

)

 

 

2006

 

 

 

2006

 

High Ridge Center

 

CT

 

 

( 10,000

)

 

 

26,078

 

 

 

21,460

 

 

 

805

 

 

 

26,092

 

 

 

22,251

 

 

 

48,343

 

 

 

( 1,741

)

 

 

1968

 

 

 

2023

 

Hillcrest Village

 

TX

 

 

—

 

 

 

1,600

 

 

 

1,909

 

 

 

271

 

 

 

1,600

 

 

 

2,180

 

 

 

3,780

 

 

 

( 1,353

)

 

 

1991

 

 

 

1999

 

Hilltop Village

 

CO

 

 

—

 

 

 

2,995

 

 

 

4,581

 

 

 

4,845

 

 

 

3,104

 

 

 

9,317

 

 

 

12,421

 

 

 

( 6,483

)

 

 

2018

 

 

 

2002

 

Hinsdale Lake Commons

 

IL

 

 

—

 

 

 

5,734

 

 

 

16,709

 

 

 

12,248

 

 

 

8,343

 

 

 

26,348

 

 

 

34,691

 

 

 

( 20,509

)

 

 

2015

 

 

 

1998

 

Holly Park

 

NC

 

 

—

 

 

 

8,975

 

 

 

23,799

 

 

 

2,743

 

 

 

8,828

 

 

 

26,689

 

 

 

35,517

 

 

 

( 11,070

)

 

 

1969

 

 

 

2013

 

Howell Mill Village

 

GA

 

 

—

 

 

 

5,157

 

 

 

14,279

 

 

 

8,108

 

 

 

9,610

 

 

 

17,934

 

 

 

27,544

 

 

 

( 10,198

)

 

 

1984

 

 

 

2004

 

Hyde Park

 

OH

 

 

—

 

 

 

9,809

 

 

 

39,905

 

 

 

18,623

 

 

 

10,215

 

 

 

58,122

 

 

 

68,337

 

 

 

( 36,950

)

 

 

1995

 

 

 

1997

 

Indian Springs Center

 

TX

 

 

—

 

 

 

24,974

 

 

 

25,903

 

 

 

1,495

 

 

 

25,050

 

 

 

27,322

 

 

 

52,372

 

 

 

( 11,094

)

 

 

2003

 

 

 

2002

 

Indigo Square

 

SC

 

 

—

 

 

 

8,087

 

 

 

9,849

 

 

 

( 26

)

 

 

8,087

 

 

 

9,823

 

 

 

17,910

 

 

 

( 4,075

)

 

 

2017

 

 

 

2017

 

Inglewood Plaza

 

WA

 

 

—

 

 

 

1,300

 

 

 

2,159

 

 

 

1,373

 

 

 

1,300

 

 

 

3,532

 

 

 

4,832

 

 

 

( 2,525

)

 

 

1985

 

 

 

1999

 

Island Village

 

WA

 

 

—

 

 

 

12,354

 

 

 

23,660

 

 

 

726

 

 

 

12,361

 

 

 

24,379

 

 

 

36,740

 

 

 

( 3,545

)

 

 

2013

 

 

 

2023

 

Jordan Ranch

 

TX

 

 

—

 

 

 

16,465

 

 

 

29,318

 

 

 

—

 

 

 

16,465

 

 

 

29,318

 

 

 

45,783

 

 

 

( 294

)

 

 

2025

 

 

 

2024

 

Keller Town Center

 

TX

 

 

—

 

 

 

2,294

 

 

 

12,841

 

 

 

1,657

 

 

 

2,404

 

 

 

14,388

 

 

 

16,792

 

 

 

( 9,203

)

 

 

2014

 

 

 

1999

 

Kirkman Shoppes

 

FL

 

 

—

 

 

 

9,364

 

 

 

26,243

 

 

 

1,082

 

 

 

9,367

 

 

 

27,322

 

 

 

36,689

 

 

 

( 8,903

)

 

 

2015

 

 

 

2017

 

Kirkwood Commons

 

MO

 

 

—

 

 

 

6,772

 

 

 

16,224

 

 

 

1,954

 

 

 

6,802

 

 

 

18,148

 

 

 

24,950

 

 

 

( 8,384

)

 

 

2000

 

 

 

2007

 

Klahanie Shopping Center

 

WA

 

 

—

 

 

 

14,451

 

 

 

20,089

 

 

 

1,157

 

 

 

14,451

 

 

 

21,246

 

 

 

35,697

 

 

 

( 6,533

)

 

 

1998

 

 

 

2016

 

Knotts Landing

 

CT

 

 

—

 

 

 

2,062

 

 

 

23,536

 

 

 

99

 

 

 

2,062

 

 

 

23,635

 

 

 

25,697

 

 

 

( 1,413

)

 

 

1994

 

 

 

2023

 

Kroger New Albany Center

 

OH

 

 

—

 

 

 

3,844

 

 

 

6,599

 

 

 

1,594

 

 

 

3,844

 

 

 

8,193

 

 

 

12,037

 

 

 

( 7,285

)

 

 

1999

 

 

 

1999

 

Lake Mary Centre

 

FL

 

 

—

 

 

 

24,036

 

 

 

57,476

 

 

 

3,391

 

 

 

24,036

 

 

 

60,867

 

 

 

84,903

 

 

 

( 21,506

)

 

 

2015

 

 

 

2017

 

Lake Pine Plaza

 

NC

 

 

—

 

 

 

2,008

 

 

 

7,632

 

 

 

1,109

 

 

 

2,029

 

 

 

8,720

 

 

 

10,749

 

 

 

( 6,341

)

 

 

1997

 

 

 

1998

 

Lakeview Shopping Center

 

NY

 

 

( 10,407

)

 

 

6,341

 

 

 

22,296

 

 

 

1,286

 

 

 

6,341

 

 

 

23,582

 

 

 

29,923

 

 

 

( 2,057

)

 

 

1981

 

 

 

2023

 

Lebanon/Legacy Center

 

TX

 

 

—

 

 

 

3,913

 

 

 

7,874

 

 

 

1,764

 

 

 

3,913

 

 

 

9,638

 

 

 

13,551

 

 

 

( 8,100

)

 

 

2002

 

 

 

2000

 

Littleton Square

 

CO

 

 

—

 

 

 

2,030

 

 

 

8,859

 

 

 

( 3,274

)

 

 

2,433

 

 

 

5,182

 

 

 

7,615

 

 

 

( 3,882

)

 

 

2015

 

 

 

1999

 

Lloyd King Center

 

CO

 

 

—

 

 

 

1,779

 

 

 

10,060

 

 

 

1,863

 

 

 

1,779

 

 

 

11,923

 

 

 

13,702

 

 

 

( 8,302

)

 

 

1998

 

 

 

1998

 

Lower Nazareth Commons

 

PA

 

 

—

 

 

 

15,992

 

 

 

12,964

 

 

 

4,165

 

 

 

16,343

 

 

 

16,778

 

 

 

33,121

 

 

 

( 15,745

)

 

 

2012

 

 

 

2007

 

Main & Bailey

 

CT

 

 

—

 

 

 

603

 

 

 

13,428

 

 

 

293

 

 

 

603

 

 

 

13,721

 

 

 

14,324

 

 

 

( 966

)

 

 

1950

 

 

 

2023

 

Mandarin Landing

 

FL

 

 

—

 

 

 

7,913

 

 

 

27,230

 

 

 

13,396

 

 

 

10,625

 

 

 

37,914

 

 

 

48,539

 

 

 

( 9,371

)

 

 

2024

 

 

 

2017

 

Market at Colonnade Center

 

NC

 

 

—

 

 

 

6,455

 

 

 

9,839

 

 

 

569

 

 

 

6,160

 

 

 

10,703

 

 

 

16,863

 

 

 

( 6,875

)

 

 

2009

 

 

 

2009

 

Market at Preston Forest

 

TX

 

 

—

 

 

 

4,400

 

 

 

11,445

 

 

 

2,402

 

 

 

4,400

 

 

 

13,847

 

 

 

18,247

 

 

 

( 9,544

)

 

 

1990

 

 

 

1999

 

117

REGENCY CENTERS CORPORATION AND REGENCY CENTERS, L.P.
Schedule III - Consolidated Real Estate and Accumulated Depreciation
December 31, 2025
(in thousands)
 

 

 

 

 

 

 

 

Initial Cost

 

 

 

 

 

Total Cost

 

 

 

 

 

 

 

 

 

 

Shopping Centers

 

State

 

Mortgages or
Encumbrances (1)

 

 

Land & Land
Improvements

 

 

Building &
Improvements

 

 

Cost
Capitalized
Subsequent to
Acquisition  (2)

 

 

Land & Land
Improvements

 

 

Building &
Improvements

 

 

Total

 

 

Accumulated
Depreciation

 

 

Year
Constructed
or Last Major
Renovation

 

 

Year
Acquired

 

Market at Round Rock

 

TX

 

 

—

 

 

 

2,000

 

 

 

9,676

 

 

 

10,106

 

 

 

1,996

 

 

 

19,786

 

 

 

21,782

 

 

 

( 12,611

)

 

 

1987

 

 

 

1999

 

Market at Springwoods Village

 

TX

 

 

—

 

 

 

12,592

 

 

 

12,809

 

 

 

222

 

 

 

12,592

 

 

 

13,031

 

 

 

25,623

 

 

 

( 6,480

)

 

 

2018

 

 

 

2016

 

Marketplace at Briargate

 

CO

 

 

—

 

 

 

1,706

 

 

 

4,885

 

 

 

373

 

 

 

1,727

 

 

 

5,237

 

 

 

6,964

 

 

 

( 3,792

)

 

 

2006

 

 

 

2006

 

McLean Plaza

 

NY

 

 

( 5,000

)

 

 

12,527

 

 

 

12,039

 

 

 

231

 

 

 

12,534

 

 

 

12,263

 

 

 

24,797

 

 

 

( 996

)

 

 

1982

 

 

 

2023

 

Meadtown Shopping Center

 

NJ

 

 

( 8,765

)

 

 

9,961

 

 

 

15,328

 

 

 

633

 

 

 

9,961

 

 

 

15,961

 

 

 

25,922

 

 

 

( 1,302

)

 

 

1961

 

 

 

2023

 

Mellody Farm

 

IL

 

 

—

 

 

 

35,628

 

 

 

66,847

 

 

 

111

 

 

 

35,639

 

 

 

66,947

 

 

 

102,586

 

 

 

( 24,530

)

 

 

2017

 

 

 

2017

 

Mercantile East

 

CA

 

 

( 33,000

)

 

 

43,971

 

 

 

38,213

 

 

 

1,267

 

 

 

43,971

 

 

 

39,480

 

 

 

83,451

 

 

 

( 819

)

 

 

2023

 

 

 

2025

 

Mercantile West

 

CA

 

 

( 40,600

)

 

 

20,062

 

 

 

45,218

 

 

 

42

 

 

 

20,062

 

 

 

45,260

 

 

 

65,322

 

 

 

( 861

)

 

 

2025

 

 

 

2025

 

Melrose Market

 

WA

 

 

—

 

 

 

4,451

 

 

 

10,807

 

 

 

( 72

)

 

 

4,451

 

 

 

10,735

 

 

 

15,186

 

 

 

( 2,277

)

 

 

2009

 

 

 

2019

 

Midland Park Shopping Center

 

NJ

 

 

( 16,588

)

 

 

9,814

 

 

 

24,226

 

 

 

1,874

 

 

 

9,814

 

 

 

26,100

 

 

 

35,914

 

 

 

( 2,239

)

 

 

1966

 

 

 

2023

 

Millhopper Shopping Center

 

FL

 

 

—

 

 

 

1,073

 

 

 

5,358

 

 

 

6,120

 

 

 

1,901

 

 

 

10,650

 

 

 

12,551

 

 

 

( 8,771

)

 

 

2017

 

 

 

1993

 

Mockingbird Commons

 

TX

 

 

—

 

 

 

3,000

 

 

 

10,728

 

 

 

3,822

 

 

 

3,000

 

 

 

14,550

 

 

 

17,550

 

 

 

( 9,975

)

 

 

1987

 

 

 

1999

 

Monument Jackson Creek

 

CO

 

 

—

 

 

 

2,999

 

 

 

6,765

 

 

 

1,464

 

 

 

2,999

 

 

 

8,229

 

 

 

11,228

 

 

 

( 7,213

)

 

 

1999

 

 

 

1998

 

Morningside Plaza

 

CA

 

 

—

 

 

 

4,300

 

 

 

13,951

 

 

 

1,266

 

 

 

4,300

 

 

 

15,217

 

 

 

19,517

 

 

 

( 10,568

)

 

 

1996

 

 

 

1999

 

Murrayhill Marketplace

 

OR

 

 

—

 

 

 

2,670

 

 

 

18,401

 

 

 

15,100

 

 

 

2,903

 

 

 

33,268

 

 

 

36,171

 

 

 

( 22,926

)

 

 

2016

 

 

 

1999

 

Naples Walk

 

FL

 

 

—

 

 

 

18,173

 

 

 

13,554

 

 

 

2,476

 

 

 

18,173

 

 

 

16,030

 

 

 

34,203

 

 

 

( 9,601

)

 

 

1999

 

 

 

2007

 

New City PCSB Bank Pad

 

NY

 

 

—

 

 

 

837

 

 

 

1,306

 

 

 

( 2,143

)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

1973

 

 

 

2023

 

New Milford Plaza

 

CT

 

 

—

 

 

 

7,955

 

 

 

18,349

 

 

 

127

 

 

 

7,955

 

 

 

18,476

 

 

 

26,431

 

 

 

( 1,482

)

 

 

1970

 

 

 

2023

 

Newberry Square

 

FL

 

 

—

 

 

 

2,412

 

 

 

10,150

 

 

 

2,085

 

 

 

2,412

 

 

 

12,235

 

 

 

14,647

 

 

 

( 10,978

)

 

 

1986

 

 

 

1994

 

Newfield Green

 

CT

 

 

( 18,175

)

 

 

22,993

 

 

 

7,778

 

 

 

107

 

 

 

22,993

 

 

 

7,885

 

 

 

30,878

 

 

 

( 843

)

 

 

1966

 

 

 

2023

 

Newland Center

 

CA

 

 

—

 

 

 

12,500

 

 

 

10,697

 

 

 

9,509

 

 

 

16,276

 

 

 

16,430

 

 

 

32,706

 

 

 

( 13,687

)

 

 

2016

 

 

 

1999

 

Nocatee Town Center

 

FL

 

 

—

 

 

 

10,124

 

 

 

8,691

 

 

 

9,305

 

 

 

11,045

 

 

 

17,075

 

 

 

28,120

 

 

 

( 12,850

)

 

 

2017

 

 

 

2007

 

Nohl Plaza

 

CA

 

 

—

 

 

 

1,688

 

 

 

6,733

 

 

 

317

 

 

 

1,688

 

 

 

7,050

 

 

 

8,738

 

 

 

( 801

)

 

 

1966

 

 

 

2023

 

North Hills

 

TX

 

 

—

 

 

 

4,900

 

 

 

19,774

 

 

 

2,293

 

 

 

4,900

 

 

 

22,067

 

 

 

26,967

 

 

 

( 13,629

)

 

 

1995

 

 

 

1999

 

Northgate Marketplace

 

OR

 

 

—

 

 

 

5,668

 

 

 

13,727

 

 

 

403

 

 

 

4,955

 

 

 

14,843

 

 

 

19,798

 

 

 

( 9,415

)

 

 

2011

 

 

 

2011

 

Northgate Marketplace Ph II

 

OR

 

 

—

 

 

 

12,189

 

 

 

30,171

 

 

 

105

 

 

 

12,159

 

 

 

30,306

 

 

 

42,465

 

 

 

( 13,544

)

 

 

2015

 

 

 

2015

 

Northgate Plaza (Maxtown Road)

 

OH

 

 

—

 

 

 

1,769

 

 

 

6,652

 

 

 

5,080

 

 

 

2,840

 

 

 

10,661

 

 

 

13,501

 

 

 

( 8,169

)

 

 

2017

 

 

 

1998

 

Northgate Square

 

FL

 

 

—

 

 

 

5,011

 

 

 

8,692

 

 

 

1,236

 

 

 

5,011

 

 

 

9,928

 

 

 

14,939

 

 

 

( 6,078

)

 

 

1995

 

 

 

2007

 

Northlake Village

 

TN

 

 

—

 

 

 

2,662

 

 

 

11,284

 

 

 

6,353

 

 

 

2,662

 

 

 

17,637

 

 

 

20,299

 

 

 

( 9,371

)

 

 

2013

 

 

 

2000

 

Oakshade Town Center

 

CA

 

 

( 2,369

)

 

 

6,591

 

 

 

28,966

 

 

 

4,344

 

 

 

6,591

 

 

 

33,310

 

 

 

39,901

 

 

 

( 14,620

)

 

 

1998

 

 

 

2011

 

Oakbrook Plaza

 

CA

 

 

—

 

 

 

4,000

 

 

 

6,668

 

 

 

6,432

 

 

 

4,766

 

 

 

12,334

 

 

 

17,100

 

 

 

( 8,273

)

 

 

2017

 

 

 

1999

 

Oakleaf Commons

 

FL

 

 

—

 

 

 

3,503

 

 

 

11,671

 

 

 

2,286

 

 

 

3,173

 

 

 

14,287

 

 

 

17,460

 

 

 

( 10,412

)

 

 

2006

 

 

 

2006

 

Oakley Shops at Laurel Fields

 

CA

 

 

—

 

 

 

10,963

 

 

 

22,825

 

 

 

—

 

 

 

10,963

 

 

 

22,825

 

 

 

33,788

 

 

 

( 392

)

 

 

2024

 

 

 

2024

 

Ocala Corners

 

FL

 

 

—

 

 

 

1,816

 

 

 

10,515

 

 

 

1,775

 

 

 

1,816

 

 

 

12,290

 

 

 

14,106

 

 

 

( 6,943

)

 

 

2000

 

 

 

2000

 

Old Greenwich CVS

 

CT

 

 

( 799

)

 

 

3,704

 

 

 

2,065

 

 

 

7

 

 

 

3,711

 

 

 

2,065

 

 

 

5,776

 

 

 

( 149

)

 

 

1941

 

 

 

2023

 

Old Kings Market

 

CT

 

 

( 22,111

)

 

 

17,091

 

 

 

26,274

 

 

 

375

 

 

 

17,092

 

 

 

26,648

 

 

 

43,740

 

 

 

( 1,943

)

 

 

1955

 

 

 

2023

 

Old St Augustine Plaza

 

FL

 

 

—

 

 

 

2,368

 

 

 

11,405

 

 

 

13,655

 

 

 

3,455

 

 

 

23,973

 

 

 

27,428

 

 

 

( 15,723

)

 

2017 / 2020

 

 

 

1996

 

Orange Meadows

 

CT

 

 

—

 

 

 

6,459

 

 

 

19,441

 

 

 

1,183

 

 

 

6,461

 

 

 

20,622

 

 

 

27,083

 

 

 

( 2,202

)

 

 

1990

 

 

 

2023

 

Orangetown Shopping Center

 

NY

 

 

—

 

 

 

4,716

 

 

 

15,472

 

 

 

1,140

 

 

 

5,684

 

 

 

15,644

 

 

 

21,328

 

 

 

( 1,201

)

 

 

1966

 

 

 

2023

 

Pablo Plaza

 

FL

 

 

—

 

 

 

11,894

 

 

 

21,407

 

 

 

12,354

 

 

 

14,135

 

 

 

31,520

 

 

 

45,655

 

 

 

( 13,565

)

 

 

2020

 

 

 

2017

 

Paces Ferry Plaza

 

GA

 

 

—

 

 

 

2,812

 

 

 

12,639

 

 

 

21,439

 

 

 

13,803

 

 

 

23,087

 

 

 

36,890

 

 

 

( 17,086

)

 

 

2018

 

 

 

1997

 

Panther Creek

 

TX

 

 

—

 

 

 

14,414

 

 

 

14,748

 

 

 

7,378

 

 

 

15,212

 

 

 

21,328

 

 

 

36,540

 

 

 

( 17,724

)

 

 

1994

 

 

 

2002

 

Pavilion

 

FL

 

 

—

 

 

 

15,626

 

 

 

22,124

 

 

 

1,546

 

 

 

15,626

 

 

 

23,670

 

 

 

39,296

 

 

 

( 8,822

)

 

 

2011

 

 

 

2017

 

Peartree Village

 

TN

 

 

—

 

 

 

5,197

 

 

 

19,746

 

 

 

1,020

 

 

 

5,197

 

 

 

20,766

 

 

 

25,963

 

 

 

( 16,226

)

 

 

1997

 

 

 

1997

 

Persimmon Place

 

CA

 

 

—

 

 

 

25,975

 

 

 

38,114

 

 

 

539

 

 

 

26,692

 

 

 

37,936

 

 

 

64,628

 

 

 

( 21,756

)

 

 

2014

 

 

 

2014

 

Pike Creek

 

DE

 

 

—

 

 

 

5,153

 

 

 

20,652

 

 

 

10,330

 

 

 

5,885

 

 

 

30,250

 

 

 

36,135

 

 

 

( 18,711

)

 

 

2013

 

 

 

1998

 

118

REGENCY CENTERS CORPORATION AND REGENCY CENTERS, L.P.
Schedule III - Consolidated Real Estate and Accumulated Depreciation
December 31, 2025
(in thousands)
 

 

 

 

 

 

 

 

Initial Cost

 

 

 

 

 

Total Cost

 

 

 

 

 

 

 

 

 

 

Shopping Centers

 

State

 

Mortgages or
Encumbrances (1)

 

 

Land & Land
Improvements

 

 

Building &
Improvements

 

 

Cost
Capitalized
Subsequent to
Acquisition  (2)

 

 

Land & Land
Improvements

 

 

Building &
Improvements

 

 

Total

 

 

Accumulated
Depreciation

 

 

Year
Constructed
or Last Major
Renovation

 

 

Year
Acquired

 

Pine Island

 

FL

 

 

—

 

 

 

21,086

 

 

 

28,123

 

 

 

2,217

 

 

 

21,086

 

 

 

30,340

 

 

 

51,426

 

 

 

( 10,921

)

 

 

1999

 

 

 

2017

 

Pine Lake Village

 

WA

 

 

—

 

 

 

6,300

 

 

 

10,991

 

 

 

2,299

 

 

 

6,300

 

 

 

13,290

 

 

 

19,590

 

 

 

( 9,185

)

 

 

1989

 

 

 

1999

 

Pine Ridge Square

 

FL

 

 

—

 

 

 

13,951

 

 

 

23,147

 

 

 

6,846

 

 

 

13,951

 

 

 

29,993

 

 

 

43,944

 

 

 

( 7,669

)

 

 

2013

 

 

 

2017

 

Pine Tree Plaza

 

FL

 

 

—

 

 

 

668

 

 

 

6,220

 

 

 

1,220

 

 

 

668

 

 

 

7,440

 

 

 

8,108

 

 

 

( 5,154

)

 

 

1999

 

 

 

1997

 

Pinecrest Place

 

FL

 

 

—

 

 

 

4,193

 

 

 

13,275

 

 

 

73

 

 

 

3,805

 

 

 

13,736

 

 

 

17,541

 

 

 

( 4,858

)

 

 

2017

 

 

 

2017

 

Plaza Escuela

 

CA

 

 

—

 

 

 

24,829

 

 

 

104,395

 

 

 

4,305

 

 

 

24,829

 

 

 

108,700

 

 

 

133,529

 

 

 

( 26,616

)

 

 

2002

 

 

 

2017

 

Plaza Hermosa

 

CA

 

 

—

 

 

 

4,200

 

 

 

10,109

 

 

 

4,657

 

 

 

4,202

 

 

 

14,764

 

 

 

18,966

 

 

 

( 10,136

)

 

 

2013

 

 

 

1999

 

Point 50

 

VA

 

 

—

 

 

 

15,239

 

 

 

11,367

 

 

 

294

 

 

 

14,628

 

 

 

12,272

 

 

 

26,900

 

 

 

( 3,909

)

 

 

2021

 

 

 

2007

 

Point Royale Shopping Center

 

FL

 

 

—

 

 

 

18,201

 

 

 

14,889

 

 

 

7,145

 

 

 

19,405

 

 

 

20,830

 

 

 

40,235

 

 

 

( 9,977

)

 

 

2018

 

 

 

2017

 

Pompton Lakes Towne Square

 

NJ

 

 

—

 

 

 

12,940

 

 

 

16,392

 

 

 

379

 

 

 

12,943

 

 

 

16,768

 

 

 

29,711

 

 

 

( 1,384

)

 

 

2000

 

 

 

2023

 

Post Road Plaza

 

CT

 

 

—

 

 

 

15,240

 

 

 

5,196

 

 

 

176

 

 

 

15,240

 

 

 

5,372

 

 

 

20,612

 

 

 

( 1,789

)

 

 

1978

 

 

 

2017

 

Potrero Center

 

CA

 

 

—

 

 

 

133,422

 

 

 

116,758

 

 

 

( 87,857

)

 

 

85,205

 

 

 

77,118

 

 

 

162,323

 

 

 

( 19,505

)

 

 

1997

 

 

 

2017

 

Powell Street Plaza

 

CA

 

 

—

 

 

 

8,248

 

 

 

30,716

 

 

 

5,074

 

 

 

8,248

 

 

 

35,790

 

 

 

44,038

 

 

 

( 22,318

)

 

 

1987

 

 

 

2001

 

Powers Ferry Square

 

GA

 

 

—

 

 

 

3,687

 

 

 

17,965

 

 

 

10,632

 

 

 

5,758

 

 

 

26,526

 

 

 

32,284

 

 

 

( 25,022

)

 

 

2013

 

 

 

1997

 

Powers Ferry Village

 

GA

 

 

—

 

 

 

1,191

 

 

 

4,672

 

 

 

1,502

 

 

 

1,191

 

 

 

6,174

 

 

 

7,365

 

 

 

( 4,926

)

 

 

1994

 

 

 

1997

 

Prairie City Crossing

 

CA

 

 

—

 

 

 

4,164

 

 

 

13,032

 

 

 

632

 

 

 

4,164

 

 

 

13,664

 

 

 

17,828

 

 

 

( 8,392

)

 

 

1999

 

 

 

1999

 

Preston Oaks

 

TX

 

 

—

 

 

 

763

 

 

 

30,438

 

 

 

583

 

 

 

1,534

 

 

 

30,250

 

 

 

31,784

 

 

 

( 7,686

)

 

 

2022

 

 

 

2013

 

Prestonbrook

 

TX

 

 

—

 

 

 

7,069

 

 

 

8,622

 

 

 

( 484

)

 

 

5,244

 

 

 

9,963

 

 

 

15,207

 

 

 

( 8,798

)

 

 

1998

 

 

 

1998

 

Prosperity Centre

 

FL

 

 

—

 

 

 

11,682

 

 

 

26,215

 

 

 

1,153

 

 

 

11,681

 

 

 

27,369

 

 

 

39,050

 

 

 

( 7,616

)

 

 

1993

 

 

 

2017

 

Purchase Street Shops

 

NY

 

 

—

 

 

 

466

 

 

 

1,388

 

 

 

21

 

 

 

466

 

 

 

1,409

 

 

 

1,875

 

 

 

( 126

)

 

 

 

 

 

2023

 

Putnam Plaza

 

NY

 

 

( 16,531

)

 

 

10,355

 

 

 

13,621

 

 

 

2,934

 

 

 

10,355

 

 

 

16,555

 

 

 

26,910

 

 

 

( 736

)

 

 

1971

 

 

 

2025

 

Ralphs Circle Center

 

CA

 

 

—

 

 

 

20,939

 

 

 

6,317

 

 

 

492

 

 

 

20,939

 

 

 

6,809

 

 

 

27,748

 

 

 

( 2,675

)

 

 

1983

 

 

 

2017

 

Red Bank Village

 

OH

 

 

—

 

 

 

10,336

 

 

 

9,500

 

 

 

1,668

 

 

 

9,755

 

 

 

11,749

 

 

 

21,504

 

 

 

( 5,696

)

 

 

2018

 

 

 

2006

 

Regency Commons

 

OH

 

 

—

 

 

 

3,917

 

 

 

3,616

 

 

 

425

 

 

 

3,917

 

 

 

4,041

 

 

 

7,958

 

 

 

( 3,153

)

 

 

2004

 

 

 

2004

 

Regency Square

 

FL

 

 

—

 

 

 

4,770

 

 

 

25,191

 

 

 

16,188

 

 

 

6,228

 

 

 

39,921

 

 

 

46,149

 

 

 

( 30,373

)

 

 

2013

 

 

 

1993

 

Ridgeway Shopping Center

 

CT

 

 

( 40,688

)

 

 

47,684

 

 

 

96,414

 

 

 

8,029

 

 

 

47,684

 

 

 

104,443

 

 

 

152,127

 

 

 

( 7,804

)

 

 

1952

 

 

 

2023

 

Franklin Pointe (fka Rite Aid Plaza-Waldwick Plaza)

 

NJ

 

 

—

 

 

 

1,774

 

 

 

5,753

 

 

 

( 42

)

 

 

1,774

 

 

 

5,711

 

 

 

7,485

 

 

 

( 370

)

 

 

1953

 

 

 

2023

 

Rivertowns Square

 

NY

 

 

—

 

 

 

15,505

 

 

 

52,505

 

 

 

5,976

 

 

 

16,853

 

 

 

57,133

 

 

 

73,986

 

 

 

( 14,511

)

 

 

2016

 

 

 

2018

 

Rona Plaza

 

CA

 

 

—

 

 

 

1,500

 

 

 

4,917

 

 

 

582

 

 

 

1,500

 

 

 

5,499

 

 

 

6,999

 

 

 

( 3,903

)

 

 

1989

 

 

 

1999

 

Roosevelt Square

 

WA

 

 

—

 

 

 

40,371

 

 

 

32,108

 

 

 

8,686

 

 

 

40,382

 

 

 

40,783

 

 

 

81,165

 

 

 

( 10,891

)

 

 

2017

 

 

 

2017

 

Russell Ridge

 

GA

 

 

—

 

 

 

2,234

 

 

 

6,903

 

 

 

1,971

 

 

 

2,234

 

 

 

8,874

 

 

 

11,108

 

 

 

( 6,877

)

 

 

1995

 

 

 

1994

 

Ryanwood Square

 

FL

 

 

—

 

 

 

10,581

 

 

 

10,044

 

 

 

545

 

 

 

10,581

 

 

 

10,589

 

 

 

21,170

 

 

 

( 4,566

)

 

 

1987

 

 

 

2017

 

Sammamish-Highlands

 

WA

 

 

—

 

 

 

9,300

 

 

 

8,075

 

 

 

10,302

 

 

 

9,592

 

 

 

18,085

 

 

 

27,677

 

 

 

( 13,411

)

 

 

2013

 

 

 

1999

 

San Carlos Marketplace

 

CA

 

 

—

 

 

 

36,006

 

 

 

57,886

 

 

 

969

 

 

 

36,006

 

 

 

58,855

 

 

 

94,861

 

 

 

( 15,080

)

 

 

2018

 

 

 

2017

 

San Leandro Plaza

 

CA

 

 

—

 

 

 

1,300

 

 

 

8,226

 

 

 

1,930

 

 

 

1,300

 

 

 

10,156

 

 

 

11,456

 

 

 

( 6,678

)

 

 

1982

 

 

 

1999

 

Sandy Springs

 

GA

 

 

—

 

 

 

6,889

 

 

 

28,056

 

 

 

5,365

 

 

 

6,889

 

 

 

33,421

 

 

 

40,310

 

 

 

( 14,455

)

 

 

2006

 

 

 

2012

 

Sawgrass Promenade

 

FL

 

 

—

 

 

 

10,846

 

 

 

12,525

 

 

 

1,796

 

 

 

10,846

 

 

 

14,321

 

 

 

25,167

 

 

 

( 5,165

)

 

 

1998

 

 

 

2017

 

Scripps Ranch Marketplace

 

CA

 

 

—

 

 

 

59,949

 

 

 

26,334

 

 

 

1,792

 

 

 

59,949

 

 

 

28,126

 

 

 

88,075

 

 

 

( 7,940

)

 

 

2017

 

 

 

2017

 

Sendero Marketplace

 

CA

 

 

( 44,538

)

 

 

27,171

 

 

 

31,206

 

 

 

11

 

 

 

27,171

 

 

 

31,217

 

 

 

58,388

 

 

 

( 565

)

 

 

2016

 

 

 

2025

 

Serramonte Center

 

CA

 

 

—

 

 

 

390,106

 

 

 

172,652

 

 

 

118,710

 

 

 

423,587

 

 

 

257,881

 

 

 

681,468

 

 

 

( 104,400

)

 

2018 /In Process

 

 

 

2017

 

Shaw's at Plymouth

 

MA

 

 

—

 

 

 

3,968

 

 

 

8,367

 

 

 

—

 

 

 

3,968

 

 

 

8,367

 

 

 

12,335

 

 

 

( 3,207

)

 

 

1993

 

 

 

2017

 

Shelton Square

 

CT

 

 

—

 

 

 

13,383

 

 

 

25,265

 

 

 

4,472

 

 

 

13,383

 

 

 

29,737

 

 

 

43,120

 

 

 

( 2,975

)

 

 

1982

 

 

 

2023

 

Sheridan Plaza

 

FL

 

 

—

 

 

 

82,260

 

 

 

97,273

 

 

 

16,268

 

 

 

83,814

 

 

 

111,987

 

 

 

195,801

 

 

 

( 35,029

)

 

1991 / 2022

 

 

 

2017

 

Sherwood Crossroads

 

OR

 

 

—

 

 

 

2,731

 

 

 

6,360

 

 

 

900

 

 

 

2,454

 

 

 

7,537

 

 

 

9,991

 

 

 

( 4,740

)

 

 

1999

 

 

 

1999

 

119

REGENCY CENTERS CORPORATION AND REGENCY CENTERS, L.P.
Schedule III - Consolidated Real Estate and Accumulated Depreciation
December 31, 2025
(in thousands)
 

 

 

 

 

 

 

 

Initial Cost

 

 

 

 

 

Total Cost

 

 

 

 

 

 

 

 

 

 

Shopping Centers

 

State

 

Mortgages or
Encumbrances (1)

 

 

Land & Land
Improvements

 

 

Building &
Improvements

 

 

Cost
Capitalized
Subsequent to
Acquisition  (2)

 

 

Land & Land
Improvements

 

 

Building &
Improvements

 

 

Total

 

 

Accumulated
Depreciation

 

 

Year
Constructed
or Last Major
Renovation

 

 

Year
Acquired

 

Shiloh Springs

 

TX

 

 

—

 

 

 

5,236

 

 

 

11,802

 

 

 

1,199

 

 

 

5,236

 

 

 

13,001

 

 

 

18,237

 

 

 

( 2,614

)

 

 

1998

 

 

 

1998

 

Shoppes @ 104

 

FL

 

 

—

 

 

 

11,193

 

 

 

—

 

 

 

3,414

 

 

 

7,078

 

 

 

7,529

 

 

 

14,607

 

 

 

( 4,967

)

 

 

2018

 

 

 

1998

 

Shoppes at Homestead

 

CA

 

 

—

 

 

 

5,420

 

 

 

9,450

 

 

 

2,829

 

 

 

5,420

 

 

 

12,279

 

 

 

17,699

 

 

 

( 8,660

)

 

 

1983

 

 

 

1999

 

Shoppes at Lago Mar

 

FL

 

 

—

 

 

 

8,323

 

 

 

11,347

 

 

 

454

 

 

 

8,323

 

 

 

11,801

 

 

 

20,124

 

 

 

( 4,482

)

 

 

1995

 

 

 

2017

 

Shoppes at Sunlake Centre

 

FL

 

 

—

 

 

 

16,643

 

 

 

15,091

 

 

 

6,683

 

 

 

18,001

 

 

 

20,416

 

 

 

38,417

 

 

 

( 7,715

)

 

 

2008

 

 

 

2017

 

Shoppes of Grande Oak

 

FL

 

 

—

 

 

 

5,091

 

 

 

5,985

 

 

 

1,495

 

 

 

5,091

 

 

 

7,480

 

 

 

12,571

 

 

 

( 6,518

)

 

 

2000

 

 

 

2000

 

Shoppes of Jonathan's Landing

 

FL

 

 

—

 

 

 

4,474

 

 

 

5,628

 

 

 

630

 

 

 

4,474

 

 

 

6,258

 

 

 

10,732

 

 

 

( 2,135

)

 

 

1997

 

 

 

2017

 

Shoppes of Oakbrook

 

FL

 

 

—

 

 

 

20,538

 

 

 

42,992

 

 

 

( 2,650

)

 

 

20,538

 

 

 

40,342

 

 

 

60,880

 

 

 

( 12,376

)

 

 

2003

 

 

 

2017

 

Shoppes of Silver Lakes

 

FL

 

 

—

 

 

 

17,529

 

 

 

21,829

 

 

 

2,496

 

 

 

17,529

 

 

 

24,325

 

 

 

41,854

 

 

 

( 8,888

)

 

 

1997

 

 

 

2017

 

Shoppes of Sunset

 

FL

 

 

—

 

 

 

2,860

 

 

 

1,316

 

 

 

975

 

 

 

2,860

 

 

 

2,291

 

 

 

5,151

 

 

 

( 719

)

 

 

2009

 

 

 

2017

 

Shoppes of Sunset II

 

FL

 

 

—

 

 

 

2,834

 

 

 

715

 

 

 

739

 

 

 

2,834

 

 

 

1,454

 

 

 

4,288

 

 

 

( 553

)

 

 

2009

 

 

 

2017

 

Shops at County Center

 

VA

 

 

—

 

 

 

9,957

 

 

 

11,296

 

 

 

5,385

 

 

 

12,917

 

 

 

13,721

 

 

 

26,638

 

 

 

( 13,139

)

 

 

2005

 

 

 

2005

 

Shops at Erwin Mill

 

NC

 

 

( 12,000

)

 

 

9,082

 

 

 

6,124

 

 

 

596

 

 

 

9,087

 

 

 

6,715

 

 

 

15,802

 

 

 

( 4,934

)

 

 

2012

 

 

 

2012

 

Shops at John's Creek

 

FL

 

 

—

 

 

 

1,863

 

 

 

2,014

 

 

 

76

 

 

 

1,501

 

 

 

2,452

 

 

 

3,953

 

 

 

( 1,876

)

 

 

2004

 

 

 

2003

 

Shops at Mira Vista

 

TX

 

 

( 137

)

 

 

11,691

 

 

 

9,026

 

 

 

881

 

 

 

11,691

 

 

 

9,907

 

 

 

21,598

 

 

 

( 4,241

)

 

 

2002

 

 

 

2014

 

Shops at Quail Creek

 

CO

 

 

—

 

 

 

1,487

 

 

 

7,717

 

 

 

1,591

 

 

 

1,448

 

 

 

9,347

 

 

 

10,795

 

 

 

( 5,414

)

 

 

2008

 

 

 

2008

 

Shops at Saugus

 

MA

 

 

—

 

 

 

19,201

 

 

 

17,984

 

 

 

1,204

 

 

 

18,974

 

 

 

19,415

 

 

 

38,389

 

 

 

( 15,091

)

 

 

2006

 

 

 

2006

 

Shops at Skylake

 

FL

 

 

—

 

 

 

84,586

 

 

 

39,342

 

 

 

3,210

 

 

 

85,117

 

 

 

42,021

 

 

 

127,138

 

 

 

( 16,034

)

 

 

2006

 

 

 

2017

 

Shops at The Columbia

 

DC

 

 

—

 

 

 

3,117

 

 

 

8,869

 

 

 

198

 

 

 

3,234

 

 

 

8,950

 

 

 

12,184

 

 

 

( 1,301

)

 

 

1991

 

 

 

2006

 

Shops on Main

 

IN

 

 

—

 

 

 

17,020

 

 

 

27,055

 

 

 

21,768

 

 

 

19,648

 

 

 

46,195

 

 

 

65,843

 

 

 

( 21,761

)

 

2017 / 2020

 

 

 

2007

 

Sienna Grande Shops

 

TX

 

 

—

 

 

 

5,516

 

 

 

6,349

 

 

 

—

 

 

 

5,516

 

 

 

6,349

 

 

 

11,865

 

 

 

( 358

)

 

 

2023

 

 

 

2023

 

Somers Commons

 

NY

 

 

—

 

 

 

7,019

 

 

 

29,808

 

 

 

4,230

 

 

 

7,019

 

 

 

34,038

 

 

 

41,057

 

 

 

( 2,968

)

 

 

2003

 

 

 

2023

 

Sope Creek Crossing

 

GA

 

 

—

 

 

 

2,985

 

 

 

12,001

 

 

 

3,885

 

 

 

3,332

 

 

 

15,539

 

 

 

18,871

 

 

 

( 11,738

)

 

 

2016

 

 

 

1998

 

South Beach Regional

 

FL

 

 

—

 

 

 

28,188

 

 

 

53,405

 

 

 

16,145

 

 

 

28,515

 

 

 

69,223

 

 

 

97,738

 

 

 

( 19,286

)

 

 

1990

 

 

 

2017

 

South Pass Village

 

NJ

 

 

( 19,258

)

 

 

11,079

 

 

 

31,610

 

 

 

649

 

 

 

11,079

 

 

 

32,259

 

 

 

43,338

 

 

 

( 2,511

)

 

 

1965

 

 

 

2023

 

South Point

 

FL

 

 

—

 

 

 

6,563

 

 

 

7,939

 

 

 

751

 

 

 

6,563

 

 

 

8,690

 

 

 

15,253

 

 

 

( 3,172

)

 

 

2003

 

 

 

2017

 

Southbury Green

 

CT

 

 

—

 

 

 

26,661

 

 

 

34,325

 

 

 

9,381

 

 

 

29,743

 

 

 

40,624

 

 

 

70,367

 

 

 

( 13,306

)

 

 

2002

 

 

 

2017

 

Southcenter

 

WA

 

 

—

 

 

 

1,300

 

 

 

12,750

 

 

 

2,793

 

 

 

1,300

 

 

 

15,543

 

 

 

16,843

 

 

 

( 10,785

)

 

 

1990

 

 

 

1999

 

Southpark at Cinco Ranch

 

TX

 

 

—

 

 

 

18,395

 

 

 

11,306

 

 

 

7,801

 

 

 

21,438

 

 

 

16,064

 

 

 

37,502

 

 

 

( 11,759

)

 

 

2017

 

 

 

2012

 

SouthPoint Crossing

 

NC

 

 

—

 

 

 

4,412

 

 

 

12,235

 

 

 

1,816

 

 

 

4,382

 

 

 

14,081

 

 

 

18,463

 

 

 

( 9,702

)

 

 

1998

 

 

 

1998

 

Staples Plaza-Yorktown Heights

 

NY

 

 

—

 

 

 

7,131

 

 

 

47,704

 

 

 

1,386

 

 

 

7,131

 

 

 

49,090

 

 

 

56,221

 

 

 

( 3,426

)

 

 

1970

 

 

 

2023

 

Starke

 

FL

 

 

—

 

 

 

71

 

 

 

1,683

 

 

 

15

 

 

 

71

 

 

 

1,698

 

 

 

1,769

 

 

 

( 1,529

)

 

 

2000

 

 

 

2000

 

Star's at Cambridge

 

MA

 

 

—

 

 

 

31,082

 

 

 

13,520

 

 

 

( 1

)

 

 

31,082

 

 

 

13,519

 

 

 

44,601

 

 

 

( 4,429

)

 

 

1997

 

 

 

2017

 

Star's at West Roxbury

 

MA

 

 

—

 

 

 

21,973

 

 

 

13,386

 

 

 

807

 

 

 

21,973

 

 

 

14,193

 

 

 

36,166

 

 

 

( 4,493

)

 

 

2006

 

 

 

2017

 

Station Centre @ Old Greenwich

 

CT

 

 

—

 

 

 

9,121

 

 

 

7,603

 

 

 

655

 

 

 

9,121

 

 

 

8,258

 

 

 

17,379

 

 

 

( 782

)

 

 

1952

 

 

 

2023

 

Stefko Boulevard Shopping Center

 

PA

 

 

—

 

 

 

5,042

 

 

 

11,847

 

 

 

120

 

 

 

5,042

 

 

 

11,967

 

 

 

17,009

 

 

 

( 154

)

 

 

1976

 

 

 

2025

 

Sterling Ridge

 

TX

 

 

—

 

 

 

12,846

 

 

 

12,162

 

 

 

1,703

 

 

 

12,846

 

 

 

13,865

 

 

 

26,711

 

 

 

( 12,323

)

 

 

2000

 

 

 

2002

 

Stroh Ranch

 

CO

 

 

—

 

 

 

4,280

 

 

 

8,189

 

 

 

1,278

 

 

 

4,280

 

 

 

9,467

 

 

 

13,747

 

 

 

( 8,113

)

 

 

1998

 

 

 

1998

 

Suncoast Crossing

 

FL

 

 

—

 

 

 

9,030

 

 

 

10,764

 

 

 

4,829

 

 

 

13,374

 

 

 

11,249

 

 

 

24,623

 

 

 

( 10,560

)

 

 

2007

 

 

 

2007

 

Sunny Valley Shops

 

CT

 

 

—

 

 

 

2,820

 

 

 

5,055

 

 

 

1,331

 

 

 

2,820

 

 

 

6,386

 

 

 

9,206

 

 

 

( 586

)

 

 

2003

 

 

 

2023

 

Talega Village Center

 

CA

 

 

—

 

 

 

22,415

 

 

 

12,054

 

 

 

593

 

 

 

22,415

 

 

 

12,647

 

 

 

35,062

 

 

 

( 3,603

)

 

 

2007

 

 

 

2017

 

Tanasbourne Market

 

OR

 

 

—

 

 

 

3,269

 

 

 

10,861

 

 

 

( 294

)

 

 

3,149

 

 

 

10,687

 

 

 

13,836

 

 

 

( 7,642

)

 

 

2006

 

 

 

2006

 

Tanglewood Shopping Center

 

NY

 

 

( 2,163

)

 

 

5,920

 

 

 

7,889

 

 

 

152

 

 

 

5,920

 

 

 

8,041

 

 

 

13,961

 

 

 

( 678

)

 

 

1953

 

 

 

2023

 

Tassajara Crossing

 

CA

 

 

—

 

 

 

8,560

 

 

 

15,464

 

 

 

3,345

 

 

 

8,560

 

 

 

18,809

 

 

 

27,369

 

 

 

( 12,549

)

 

 

1990

 

 

 

1999

 

Tech Ridge Center

 

TX

 

 

—

 

 

 

12,945

 

 

 

37,169

 

 

 

6,912

 

 

 

13,455

 

 

 

43,571

 

 

 

57,026

 

 

 

( 23,545

)

 

 

2020

 

 

 

2011

 

Terrace Shops

 

CA

 

 

( 14,007

)

 

 

5,684

 

 

 

14,587

 

 

 

12

 

 

 

5,684

 

 

 

14,599

 

 

 

20,283

 

 

 

( 256

)

 

 

2005

 

 

 

2025

 

120

REGENCY CENTERS CORPORATION AND REGENCY CENTERS, L.P.
Schedule III - Consolidated Real Estate and Accumulated Depreciation
December 31, 2025
(in thousands)
 

 

 

 

 

 

 

 

Initial Cost

 

 

 

 

 

Total Cost

 

 

 

 

 

 

 

 

 

 

Shopping Centers

 

State

 

Mortgages or
Encumbrances (1)

 

 

Land & Land
Improvements

 

 

Building &
Improvements

 

 

Cost
Capitalized
Subsequent to
Acquisition  (2)

 

 

Land & Land
Improvements

 

 

Building &
Improvements

 

 

Total

 

 

Accumulated
Depreciation

 

 

Year
Constructed
or Last Major
Renovation

 

 

Year
Acquired

 

The Abbot

 

MA

 

 

—

 

 

 

72,910

 

 

 

6,086

 

 

 

52,460

 

 

 

79,219

 

 

 

52,237

 

 

 

131,456

 

 

 

( 7,808

)

 

1912 / 2024

 

 

 

2017

 

The Crossing Clarendon

 

VA

 

 

—

 

 

 

154,932

 

 

 

126,328

 

 

 

63,230

 

 

 

161,409

 

 

 

183,081

 

 

 

344,490

 

 

 

( 45,436

)

 

2023 /In Process

 

 

 

2016

 

The Dock-Dockside

 

CT

 

 

( 32,125

)

 

 

20,974

 

 

 

49,185

 

 

 

270

 

 

 

20,974

 

 

 

49,455

 

 

 

70,429

 

 

 

( 3,690

)

 

 

1974

 

 

 

2023

 

The Field at Commonwealth

 

VA

 

 

—

 

 

 

31,057

 

 

 

18,248

 

 

 

( 5,130

)

 

 

25,731

 

 

 

18,444

 

 

 

44,175

 

 

 

( 12,535

)

 

 

2018

 

 

 

2017

 

The Gallery at Westbury Plaza

 

NY

 

 

—

 

 

 

108,653

 

 

 

216,771

 

 

 

5,213

 

 

 

108,653

 

 

 

221,984

 

 

 

330,637

 

 

 

( 61,933

)

 

 

2013

 

 

 

2017

 

The Hub at Norwalk

 

CT

 

 

—

 

 

 

20,394

 

 

 

21,261

 

 

 

1,401

 

 

 

21,220

 

 

 

21,836

 

 

 

43,056

 

 

 

( 4,647

)

 

 

2003

 

 

 

2017

 

The Hub Hillcrest Market

 

CA

 

 

—

 

 

 

18,773

 

 

 

61,906

 

 

 

8,376

 

 

 

19,611

 

 

 

69,444

 

 

 

89,055

 

 

 

( 27,554

)

 

 

2015

 

 

 

2012

 

The Longmeadow Shops

 

MA

 

 

( 13,000

)

 

 

5,451

 

 

 

23,738

 

 

 

659

 

 

 

5,451

 

 

 

24,397

 

 

 

29,848

 

 

 

( 1,946

)

 

 

1962

 

 

 

2023

 

The Marketplace

 

CA

 

 

—

 

 

 

10,927

 

 

 

36,052

 

 

 

1,815

 

 

 

10,927

 

 

 

37,867

 

 

 

48,794

 

 

 

( 10,795

)

 

 

1990

 

 

 

2017

 

The Meadows

 

NY

 

 

—

 

 

 

12,325

 

 

 

21,378

 

 

 

1,243

 

 

 

12,267

 

 

 

22,679

 

 

 

34,946

 

 

 

( 4,076

)

 

 

1980

 

 

 

2021

 

The Plaza at St. Lucie West

 

FL

 

 

—

 

 

 

1,718

 

 

 

6,204

 

 

 

219

 

 

 

1,718

 

 

 

6,423

 

 

 

8,141

 

 

 

( 1,952

)

 

 

2006

 

 

 

2017

 

The Point at Garden City Park

 

NY

 

 

—

 

 

 

741

 

 

 

9,764

 

 

 

5,857

 

 

 

2,559

 

 

 

13,803

 

 

 

16,362

 

 

 

( 6,700

)

 

 

2018

 

 

 

2016

 

The Pruneyard

 

CA

 

 

—

 

 

 

112,136

 

 

 

86,918

 

 

 

3,710

 

 

 

112,136

 

 

 

90,628

 

 

 

202,764

 

 

 

( 20,903

)

 

 

2014

 

 

 

2019

 

The Shops at Hampton Oaks

 

GA

 

 

—

 

 

 

843

 

 

 

372

 

 

 

( 178

)

 

 

297

 

 

 

740

 

 

 

1,037

 

 

 

( 448

)

 

 

2009

 

 

 

2017

 

The Shops at Stone Bridge

 

CT

 

 

—

 

 

 

21,397

 

 

 

40,486

 

 

 

—

 

 

 

21,397

 

 

 

40,486

 

 

 

61,883

 

 

 

( 471

)

 

 

2025

 

 

 

2024

 

The Shops at SunVet

 

NY

 

 

—

 

 

 

15,628

 

 

 

73,756

 

 

 

—

 

 

 

15,628

 

 

 

73,756

 

 

 

89,384

 

 

 

( 2,634

)

 

 

2023

 

 

 

2023

 

The Village at Hunter's Lake

 

FL

 

 

—

 

 

 

9,735

 

 

 

12,988

 

 

 

40

 

 

 

9,735

 

 

 

13,028

 

 

 

22,763

 

 

 

( 4,634

)

 

 

2018

 

 

 

2018

 

The Village at Riverstone

 

TX

 

 

—

 

 

 

17,179

 

 

 

13,013

 

 

 

116

 

 

 

17,179

 

 

 

13,129

 

 

 

30,308

 

 

 

( 5,123

)

 

 

2016

 

 

 

2016

 

Town and Country

 

FL

 

 

—

 

 

 

4,664

 

 

 

5,207

 

 

 

116

 

 

 

4,664

 

 

 

5,323

 

 

 

9,987

 

 

 

( 2,658

)

 

 

1993

 

 

 

2017

 

Town Square

 

FL

 

 

—

 

 

 

883

 

 

 

8,132

 

 

 

918

 

 

 

883

 

 

 

9,050

 

 

 

9,933

 

 

 

( 6,308

)

 

 

1999

 

 

 

1997

 

Towne Centre at Somers

 

NY

 

 

—

 

 

 

3,235

 

 

 

30,998

 

 

 

345

 

 

 

3,236

 

 

 

31,342

 

 

 

34,578

 

 

 

( 2,225

)

 

 

1988

 

 

 

2023

 

Treasure Coast Plaza

 

FL

 

 

—

 

 

 

7,553

 

 

 

21,554

 

 

 

1,800

 

 

 

7,553

 

 

 

23,354

 

 

 

30,907

 

 

 

( 7,704

)

 

 

1983

 

 

 

2017

 

Tustin Legacy

 

CA

 

 

—

 

 

 

13,829

 

 

 

23,922

 

 

 

290

 

 

 

13,828

 

 

 

24,213

 

 

 

38,041

 

 

 

( 9,587

)

 

 

2017

 

 

 

2016

 

Twin City Plaza

 

MA

 

 

—

 

 

 

17,245

 

 

 

44,225

 

 

 

2,796

 

 

 

17,263

 

 

 

47,003

 

 

 

64,266

 

 

 

( 24,823

)

 

In Process

 

 

 

2006

 

Twin Peaks

 

CA

 

 

—

 

 

 

5,200

 

 

 

25,827

 

 

 

9,789

 

 

 

6,587

 

 

 

34,229

 

 

 

40,816

 

 

 

( 21,418

)

 

 

2015

 

 

 

1999

 

Unigold Shopping Center

 

FL

 

 

—

 

 

 

5,490

 

 

 

5,144

 

 

 

6,812

 

 

 

5,561

 

 

 

11,885

 

 

 

17,446

 

 

 

( 7,546

)

 

 

1987

 

 

 

2017

 

University Commons

 

FL

 

 

—

 

 

 

4,070

 

 

 

30,785

 

 

 

1,121

 

 

 

4,070

 

 

 

31,906

 

 

 

35,976

 

 

 

( 12,707

)

 

 

2001

 

 

 

2015

 

Valencia Crossroads

 

CA

 

 

—

 

 

 

17,921

 

 

 

17,659

 

 

 

1,929

 

 

 

17,921

 

 

 

19,588

 

 

 

37,509

 

 

 

( 18,405

)

 

 

2003

 

 

 

2002

 

Valley Ridge Shopping Center

 

NJ

 

 

( 15,702

)

 

 

13,363

 

 

 

19,803

 

 

 

993

 

 

 

13,363

 

 

 

20,796

 

 

 

34,159

 

 

 

( 1,640

)

 

 

1962

 

 

 

2023

 

Valley Stream

 

NY

 

 

—

 

 

 

13,297

 

 

 

16,241

 

 

 

512

 

 

 

13,887

 

 

 

16,163

 

 

 

30,050

 

 

 

( 2,691

)

 

 

1950

 

 

 

2021

 

Veterans Plaza

 

CT

 

 

—

 

 

 

2,328

 

 

 

7,104

 

 

 

34

 

 

 

2,328

 

 

 

7,138

 

 

 

9,466

 

 

 

( 608

)

 

 

1966

 

 

 

2023

 

Village at La Floresta

 

CA

 

 

—

 

 

 

13,140

 

 

 

20,559

 

 

 

242

 

 

 

13,156

 

 

 

20,785

 

 

 

33,941

 

 

 

( 10,960

)

 

 

2014

 

 

 

2014

 

Village at Lee Airpark

 

MD

 

 

—

 

 

 

11,099

 

 

 

12,975

 

 

 

4,354

 

 

 

11,803

 

 

 

16,625

 

 

 

28,428

 

 

 

( 17,368

)

 

 

2014

 

 

 

2005

 

Village Center

 

FL

 

 

—

 

 

 

3,885

 

 

 

14,131

 

 

 

10,339

 

 

 

5,480

 

 

 

22,875

 

 

 

28,355

 

 

 

( 15,000

)

 

 

2014

 

 

 

1995

 

Village Commons

 

NY

 

 

—

 

 

 

312

 

 

 

5,950

 

 

 

349

 

 

 

312

 

 

 

6,299

 

 

 

6,611

 

 

 

( 602

)

 

 

1980

 

 

 

2023

 

Von's Circle Center

 

CA

 

 

( 2,633

)

 

 

49,037

 

 

 

22,618

 

 

 

1,656

 

 

 

49,037

 

 

 

24,274

 

 

 

73,311

 

 

 

( 7,833

)

 

 

1972

 

 

 

2017

 

Wading River

 

NY

 

 

—

 

 

 

14,969

 

 

 

18,641

 

 

 

1,655

 

 

 

14,915

 

 

 

20,350

 

 

 

35,265

 

 

 

( 3,259

)

 

 

2002

 

 

 

2021

 

Waldwick Plaza

 

NJ

 

 

—

 

 

 

1,724

 

 

 

5,824

 

 

 

301

 

 

 

1,724

 

 

 

6,125

 

 

 

7,849

 

 

 

( 493

)

 

 

1960

 

 

 

2023

 

Walker Center

 

OR

 

 

—

 

 

 

3,840

 

 

 

7,232

 

 

 

12,731

 

 

 

4,404

 

 

 

19,399

 

 

 

23,803

 

 

 

( 10,154

)

 

 

1987

 

 

 

1999

 

Washington Commons

 

NJ

 

 

( 8,210

)

 

 

7,829

 

 

 

12,182

 

 

 

252

 

 

 

7,829

 

 

 

12,434

 

 

 

20,263

 

 

 

( 1,098

)

 

 

1992

 

 

 

2023

 

Waterstone Plaza

 

FL

 

 

—

 

 

 

5,498

 

 

 

13,500

 

 

 

298

 

 

 

5,498

 

 

 

13,798

 

 

 

19,296

 

 

 

( 4,550

)

 

 

2005

 

 

 

2017

 

Welleby Plaza

 

FL

 

 

—

 

 

 

1,496

 

 

 

7,787

 

 

 

2,809

 

 

 

1,496

 

 

 

10,596

 

 

 

12,092

 

 

 

( 9,301

)

 

 

1982

 

 

 

1996

 

Wellington Town Square

 

FL

 

 

—

 

 

 

2,041

 

 

 

12,131

 

 

 

3,953

 

 

 

2,600

 

 

 

15,525

 

 

 

18,125

 

 

 

( 9,057

)

 

 

2022

 

 

 

1996

 

West Bird Plaza

 

FL

 

 

—

 

 

 

12,934

 

 

 

18,594

 

 

 

374

 

 

 

15,386

 

 

 

16,516

 

 

 

31,902

 

 

 

( 6,209

)

 

2000 / 2021

 

 

 

2017

 

West Chester Plaza

 

OH

 

 

—

 

 

 

1,857

 

 

 

7,572

 

 

 

690

 

 

 

1,857

 

 

 

8,262

 

 

 

10,119

 

 

 

( 8,145

)

 

In Process

 

 

 

1998

 

121

REGENCY CENTERS CORPORATION AND REGENCY CENTERS, L.P.
Schedule III - Consolidated Real Estate and Accumulated Depreciation
December 31, 2025
(in thousands)
 

 

 

 

 

 

 

 

Initial Cost

 

 

 

 

 

Total Cost

 

 

 

 

 

 

 

 

 

 

Shopping Centers

 

State

 

Mortgages or
Encumbrances (1)

 

 

Land & Land
Improvements

 

 

Building &
Improvements

 

 

Cost
Capitalized
Subsequent to
Acquisition  (2)

 

 

Land & Land
Improvements

 

 

Building &
Improvements

 

 

Total

 

 

Accumulated
Depreciation

 

 

Year
Constructed
or Last Major
Renovation

 

 

Year
Acquired

 

West Lake Shopping Center

 

FL

 

 

—

 

 

 

10,561

 

 

 

9,792

 

 

 

1,024

 

 

 

10,561

 

 

 

10,816

 

 

 

21,377

 

 

 

( 3,876

)

 

 

2000

 

 

 

2017

 

West Park Plaza

 

CA

 

 

—

 

 

 

5,840

 

 

 

5,759

 

 

 

4,406

 

 

 

5,840

 

 

 

10,165

 

 

 

16,005

 

 

 

( 6,460

)

 

 

1996

 

 

 

1999

 

Westbury Plaza

 

NY

 

 

( 88,000

)

 

 

116,129

 

 

 

51,460

 

 

 

6,978

 

 

 

117,817

 

 

 

56,750

 

 

 

174,567

 

 

 

( 18,740

)

 

 

2004

 

 

 

2017

 

Westchase

 

FL

 

 

—

 

 

 

5,302

 

 

 

8,273

 

 

 

1,522

 

 

 

5,302

 

 

 

9,795

 

 

 

15,097

 

 

 

( 5,582

)

 

 

1998

 

 

 

2007

 

Westchester Commons

 

IL

 

 

—

 

 

 

3,366

 

 

 

11,751

 

 

 

11,535

 

 

 

4,894

 

 

 

21,758

 

 

 

26,652

 

 

 

( 12,675

)

 

 

2014

 

 

 

2001

 

Westlake Village Plaza and Center

 

CA

 

 

—

 

 

 

7,043

 

 

 

27,195

 

 

 

31,764

 

 

 

17,620

 

 

 

48,382

 

 

 

66,002

 

 

 

( 41,500

)

 

 

2015

 

 

 

1999

 

Westport Collection

 

CT

 

 

—

 

 

 

4,831

 

 

 

3,138

 

 

 

1

 

 

 

4,831

 

 

 

3,139

 

 

 

7,970

 

 

 

( 417

)

 

 

1958

 

 

 

2023

 

Westport Plaza

 

FL

 

 

—

 

 

 

9,035

 

 

 

7,455

 

 

 

272

 

 

 

9,035

 

 

 

7,727

 

 

 

16,762

 

 

 

( 2,917

)

 

 

2002

 

 

 

2017

 

Westport Row

 

CT

 

 

—

 

 

 

43,597

 

 

 

16,428

 

 

 

15,346

 

 

 

46,170

 

 

 

29,201

 

 

 

75,371

 

 

 

( 10,925

)

 

 

1988

 

 

 

2017

 

Westbard Square

 

MD

 

 

—

 

 

 

128,002

 

 

 

21,514

 

 

 

40,574

 

 

 

114,450

 

 

 

75,640

 

 

 

190,090

 

 

 

( 7,643

)

 

2001 / 2024

 

 

 

2017

 

Westwood Village

 

TX

 

 

—

 

 

 

19,933

 

 

 

25,301

 

 

 

2,314

 

 

 

19,378

 

 

 

28,170

 

 

 

47,548

 

 

 

( 20,083

)

 

 

2006

 

 

 

2006

 

Willa Springs

 

FL

 

 

( 16,700

)

 

 

13,322

 

 

 

15,314

 

 

 

3,555

 

 

 

13,683

 

 

 

18,508

 

 

 

32,191

 

 

 

( 2,885

)

 

 

1979

 

 

 

2000

 

Williamsburg at Dunwoody

 

GA

 

 

—

 

 

 

7,435

 

 

 

3,721

 

 

 

1,474

 

 

 

7,444

 

 

 

5,186

 

 

 

12,630

 

 

 

( 2,270

)

 

 

1983

 

 

 

2017

 

Willow Festival

 

IL

 

 

—

 

 

 

1,954

 

 

 

56,501

 

 

 

6,297

 

 

 

1,976

 

 

 

62,776

 

 

 

64,752

 

 

 

( 27,247

)

 

 

2007

 

 

 

2010

 

Willow Lake Shopping Center

 

IN

 

 

—

 

 

 

6,018

 

 

 

9,436

 

 

 

14

 

 

 

6,018

 

 

 

9,450

 

 

 

15,468

 

 

 

( 118

)

 

 

1987

 

 

 

2025

 

Willow Lake West Shopping Center

 

IN

 

 

—

 

 

 

3,297

 

 

 

18,075

 

 

 

11

 

 

 

3,297

 

 

 

18,086

 

 

 

21,383

 

 

 

( 160

)

 

 

2001

 

 

 

2025

 

Willow Oaks

 

NC

 

 

—

 

 

 

6,664

 

 

 

7,908

 

 

 

( 247

)

 

 

6,294

 

 

 

8,031

 

 

 

14,325

 

 

 

( 4,966

)

 

 

2014

 

 

 

2014

 

Willows Shopping Center

 

CA

 

 

—

 

 

 

51,964

 

 

 

78,029

 

 

 

( 6,646

)

 

 

51,980

 

 

 

71,367

 

 

 

123,347

 

 

 

( 20,868

)

 

In Process

 

 

 

2017

 

Woodcroft Shopping Center

 

NC

 

 

—

 

 

 

1,419

 

 

 

6,284

 

 

 

2,125

 

 

 

1,421

 

 

 

8,407

 

 

 

9,828

 

 

 

( 6,338

)

 

 

1984

 

 

 

1996

 

Woodman Van Nuys

 

CA

 

 

—

 

 

 

5,500

 

 

 

7,195

 

 

 

527

 

 

 

5,500

 

 

 

7,722

 

 

 

13,222

 

 

 

( 5,223

)

 

 

1992

 

 

 

1999

 

Woodmen Plaza

 

CO

 

 

—

 

 

 

7,621

 

 

 

11,018

 

 

 

1,633

 

 

 

7,621

 

 

 

12,651

 

 

 

20,272

 

 

 

( 13,198

)

 

 

1998

 

 

 

1998

 

Woodside Central

 

CA

 

 

—

 

 

 

3,500

 

 

 

9,288

 

 

 

1,145

 

 

 

3,489

 

 

 

10,444

 

 

 

13,933

 

 

 

( 7,121

)

 

 

1993

 

 

 

1999

 

Miscellaneous Investments

 

 

 

 

—

 

 

 

—

 

 

 

2,127

 

 

 

2,371

 

 

 

—

 

 

 

4,498

 

 

 

4,498

 

 

 

( 2,243

)

 

 

 

 

 

 

Land held for future development

 

 

 

 

—

 

 

 

11,323

 

 

 

—

 

 

 

( 4,608

)

 

 

6,715

 

 

 

—

 

 

 

6,715

 

 

 

—

 

 

 

 

 

 

 

Construction in progress

 

 

 

 

—

 

 

 

22,395

 

 

 

29,235

 

 

 

95,577

 

 

 

22,395

 

 

 

124,812

 

 

 

147,207

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

( 778,831

)

 

$

5,737,889

 

 

 

7,367,996

 

 

 

1,456,039

 

 

 

5,854,509

 

 

 

8,707,415

 

 

 

14,561,924

 

 

 

( 3,267,728

)

 

 

 

 

 

 

 
(1) The amounts presented in this column do not include debt premiums, discounts, or loan costs.

(2) The negative balance for costs capitalized subsequent to acquisition could include out-parcels sold, sales-type lease, provision for impairments and write-downs recorded, and demolitions of part of the property for redevelopment.

 
 

122

REGENCY CENTERS CORPORATION AND REGENCY CENTERS, L.P.
Schedule III - Consolidated Real Estate and Accumulated Depreciation
December 31, 2025
(in thousands)

Depreciation and amortization of the Company's investments in buildings and improvements reflected in the statements of operations is calculated over the estimated useful lives of the assets, which are up to 40 years. The aggregate cost for federal income tax purposes was approximately $ 11.9 billion at December 31, 2025.
The changes in total real estate assets for the years ended December 31, 2025, 2024, and 2023 are as follows:

(in thousands)

 

2025

 

 

2024

 

 

2023

 

Beginning balance

 

$

13,698,419

 

 

 

13,454,391

 

 

 

11,858,064

 

Acquired properties and land

 

 

614,133

 

 

 

71,334

 

 

 

1,445,428

 

Developments and improvements

 

 

382,635

 

 

 

328,133

 

 

 

206,085

 

Disposal of building and tenant improvements

 

 

( 24,855

)

 

 

( 51,671

)

 

 

( 14,149

)

Sale of properties

 

 

( 108,408

)

 

 

( 72,152

)

 

 

( 19,366

)

Contributed to unconsolidated joint ventures

 

 

—

 

 

 

( 17,518

)

 

 

—

 

Properties held for sale

 

 

—

 

 

 

—

 

 

 

( 21,671

)

Provision for impairment

 

 

—

 

 

 

( 14,098

)

 

 

—

 

Ending balance

 

$

14,561,924

 

 

 

13,698,419

 

 

 

13,454,391

 

The changes in accumulated depreciation for the years ended December 31, 2025, 2024, and 2023 are as follows:

(in thousands)

 

2025

 

 

2024

 

 

2023

 

Beginning balance

 

$

2,960,399

 

 

 

2,691,386

 

 

 

2,415,860

 

Depreciation expense

 

 

344,216

 

 

 

329,650

 

 

 

293,705

 

Disposal of building and tenant improvements

 

 

( 24,828

)

 

 

( 51,671

)

 

 

( 14,149

)

Sale of properties

 

 

( 12,059

)

 

 

( 7,842

)

 

 

( 569

)

Accumulated depreciation related to properties held for sale

 

 

—

 

 

 

—

 

 

 

( 3,461

)

Provision for impairment

 

 

—

 

 

 

( 1,124

)

 

 

—

 

Ending balance

 

$

3,267,728

 

 

 

2,960,399

 

 

 

2,691,386

 

 
 

123

 

Item 9. Changes in and Disagreements with Acco untants on Accounting and Financial Disclosure
None.
Item 9A. Controls and Procedures
Controls and Procedures (Regency Centers Corporation)
Conclusion Regarding the Effectiveness of Disclosure Controls and Procedures
Under the supervision and with the participation of the Parent Company's management, including its chief executive officer and chief financial officer, the Parent Company conducted an evaluation of its disclosure controls and procedures, as such term is defined under Rule 13a-15(e) and 15d-15(e) promulgated under the Exchange Act. Based on this evaluation, the Parent Company's chief executive officer and chief financial officer concluded that as of December 31, 2025, the Parent Company's disclosure controls and procedures were effective to ensure information required to be disclosed in the reports filed or submitted under the Exchange Act is recorded, processed, summarized and reported within the time period specified in the SEC's rules and forms. These disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by the Parent Company in the reports it files or submits under the Exchange Act is accumulated and communicated to management, including its chief executive officer and chief financial officer, as appropriate, to allow timely decisions regarding required disclosure.
Management's Report on Internal Control over Financial Reporting
The Parent Company's management is responsible for establishing and maintaining adequate internal control over financial reporting, as such term is defined in Exchange Act Rules 13a-15(f) and 15d-15(f). Under the supervision and with the participation of its management, including its chief executive officer and chief financial officer, the Parent Company conducted an evaluation of the effectiveness of its internal control over financial reporting based on the framework in Internal Control - Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission. Based on its evaluation under the framework in Internal Control - Integrated Framework (2013) , the Parent Company's management concluded that its internal control over financial reporting was effective as of December 31, 2025.
KPMG LLP, an independent registered public accounting firm, has audited the Consolidated Financial Statements of the Parent Company included in this Report and, as part of their audit, has issued a report, included within "Item 8. Financial Statements and Supplementary Data " of this Report, on the effectiveness of the Parent Company's internal control over financial reporting.
The Parent Company's system of internal control over financial reporting was designed to provide reasonable assurance regarding the preparation and fair presentation of published financial statements in accordance with accounting principles generally accepted in the United States. All internal control systems, no matter how well designed, have inherent limitations. Therefore, even those systems determined to be effective can provide only reasonable assurance and may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.
Changes in Internal Controls
There have been no changes in the Parent Company's internal controls over financial reporting identified in connection with this evaluation that occurred during the quarter ended December 31, 2025 which have materially affected, or are reasonably likely to materially affect, the Parent Company’s internal controls over financial reporting.
Controls and Procedures (Regency Centers, L.P.)
Conclusion Regarding the Effectiveness of Disclosure Controls and Procedures
Under the supervision and with the participation of the Operating Partnership's management, including the chief executive officer and chief financial officer of its general partner, the Operating Partnership conducted an evaluation of its disclosure controls and procedures, as such term is defined under Rule 13a-15(e) and 15d-15(e) promulgated under the Exchange Act. Based on this evaluation, the chief executive officer and chief financial officer of its general partner concluded that, as of December 31, 2025, the Operating Partnership's disclosure controls and procedures were effective to ensure information required to be disclosed in the reports filed or submitted under the Exchange Act is recorded, processed, summarized and reported, within the time period specified in the SEC's rules and forms. These disclosure controls and procedures, without limitation, include controls and procedures designed to ensure that information required to be disclosed by the Operating Partnership in the reports it files or submits under the Exchange Act is accumulated and communicated to management, including the chief executive officer and chief financial officer of its general partner, as appropriate, to allow timely decisions regarding required disclosure.

124

 

Management's Report on Internal Control over Financial Reporting
The Operating Partnership's management is responsible for establishing and maintaining adequate internal control over financial reporting, as such term is defined in Exchange Act Rules 13a-15(f) and 15d-15(f). Under the supervision and with the participation of its management, including the chief executive officer and chief financial officer of its general partner, the Operating Partnership conducted an evaluation of the effectiveness of its internal control over financial reporting based on the framework in Internal Control - Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission. Based on its evaluation under the framework in Internal Control - Integrated Framework (2013) , the Operating Partnership's management concluded that its internal control over financial reporting was effective as of December 31, 2025.
KPMG LLP, an independent registered public accounting firm, has audited the Consolidated Financial Statements of the Operating Partnership included in this Report and, as part of their audit, has issued a report, included within "Item 8. Financial Statements and Supplementary Data " of this Report, on the effectiveness of the Operating Partnership's internal control over financial reporting.
The Operating Partnership's system of internal control over financial reporting was designed to provide reasonable assurance regarding the preparation and fair presentation of published financial statements in accordance with accounting principles generally accepted in the United States. All internal control systems, no matter how well designed, have inherent limitations. Therefore, even those systems determined to be effective can provide only reasonable assurance and may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.
Changes in Internal Controls
There have been no changes in the Operating Partnership's internal controls over financial reporting identified in connection with this evaluation that occurred during the quarter ended December 31, 2025 which have materially affected, or are reasonably likely to materially affect, the Operating Partnership’s internal controls over financial reporting.
Item 9B. Other Information
Rule 10b5-1 Trading Plans
During the fiscal quarter ended December 31, 2025 , no ne of our directors or officers (as defined in Rule 16a-1 under the Exchange Act) adopted or terminated a "Rule 10b5-1 trading arrangement" or "non-Rule 10b5-1 trading arrangement" (as those terms are defined in Item 408 of Regulation S-K).
Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections
Not applicable
PART III
Item 10. Directors, Executive Officers and Corporate Governance
Information concerning our directors, executive officers, and corporate governance is incorporated herein by reference to our definitive proxy statement to be filed with the SEC within 120 days after the end of the fiscal year covered by this Report with respect to the 2026 Annual Meeting of Shareholders. Information regarding executive officers is included in Part I of this Form 10-K as permitted by General Instruction G(3).
Code of Ethics
We have a code of ethics applicable to our Board of Directors, principal executive officers, principal financial officer, principal accounting officer and persons performing similar functions. The text of this code of ethics may be found on our website at https://investors.regencycenters.com/corporate-governance/governance-overview. We will post a notice of any waiver from, or amendment to, any provision of our code of ethics on our website.
Policy Statement on Insider Trading
We have adopted a Policy Statement on Insider Trading that governs the purchase, sale, and/or other dispositions of our securities by directors, officers and employees that is reasonably designed to promote compliance with insider trading laws, rules and regulations and NASDAQ listing standards. A copy of our Policy Statement on Insider Trading is included as Exhibit 19 to this report.
 

125

 

Item 11. Executi ve Compensation
Incorporated herein by reference to our definitive proxy statement to be filed with the SEC within 120 days after the end of the fiscal year covered by this Report with respect to the 2026 Annual Meeting of Shareholders.
Item 12. Security Ownership of Certain Beneficial Ow ners and Management and Related Stockholder Matters
The following table provides information about securities that may be issued under our existing equity compensation plans:
Equity Compensation Plan Information
(as of December 31, 2025)
 

 

 

(a)

 

 

(b)

 

 

(c)

 

Plan Category

 

Number of securities to be issued upon exercise of outstanding options, warrants and rights (1)

 

 

Weighted-average exercise price of outstanding options, warrants and rights (2)

 

 

Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column a) (3)

 

Equity compensation plans approved by security holders

 

 

834,914

 

 

$

—

 

 

 

3,462,214

 

Equity compensation plans not approved by security holders

 

N/A

 

 

N/A

 

 

N/A

 

Total

 

 

834,914

 

 

$

—

 

 

 

3,462,214

 

(1) Includes shares that may be issued pursuant to unvested restricted stock and performance share awards.

(2) The weighted average exercise price excludes stock rights awards, which we sometimes refer to as unvested restricted stock.

(3) The Regency Centers Corporation Omnibus Incentive Plan, ("Omnibus Plan"), as approved by shareholders at our 2019 annual meeting, provides that an aggregate maximum of 5.6 million shares of our common stock are reserved for issuance under the Omnibus Plan.

Information about security ownership is incorporated herein by reference to our definitive proxy statement to be filed with the SEC within 120 days after the end of the fiscal year covered by this Report with respect to the 2026 Annual Meeting of Shareholders.
Item 13. Certain Relationships and Related Transactions, and Director Independence
Incorporated herein by reference to our definitive proxy statement to be filed with the SEC within 120 days after the end of the fiscal year covered by this Report with respect to the 2026 Annual Meeting of Shareholders.
Item 14. Principal Accou ntant Fees and Services
Incorporated herein by reference to our definitive proxy statement to be filed with the SEC within 120 days after the end of the fiscal year covered by this Report with respect to the 2026 Annual Meeting of Shareholders.

126

 

PAR T IV
Item 15. Exhibits and Fina ncial Statement Schedules
(a) Financial Statements and Financial Statement Schedules:

Regency Centers Corporation and Regency Centers, L.P. 2025 financial statements and financial statement schedule, together with the reports of KPMG LLP are listed on the index immediately preceding the financial statements within "Item 8. Financial Statements and Supplementary Data " of this Report.
(b) Exhibits:

Unless otherwise indicated below, the Commission file number to the exhibit is No. 001-12298.
 

2.

Plan of Acquisition, Reorganization, Arrangement, Liquidation or Succession

 

 

 

(a)

Agreement and Plan of Merger, dated as of May 17, 2023, by and among Regency Centers Corporation, Hercules Merger Sub, LLC, Urstadt Biddle Properties Inc., UB Maryland I, Inc. and UB Maryland II, Inc. (incorporated by reference to Exhibit 2.1 to the Company’s Form 8-K filed on May 18, 2023)

 

3.

Articles of Incorporation and Bylaws

 

 

 

 

 

 

 

(a)

Restated Articles of Incorporation of Regency Centers Corporation (incorporated by reference to Exhibit 3(a) to the Company's Form 10-K filed on February 14, 2025) .

 

 

 

 

 

 

(b)

Amended and Restated Bylaws of Regency Centers Corporation (amendment is incorporated by reference to Exhibit 3.1 to the Company’s Form 10-Q filed on August 5, 2022) .

 

 

 

 

 

 

 

(c)

Fifth Amended and Restated Agreement of Limited Partnership of Regency Centers, L.P. , (incorporated by reference to Exhibit 3(d) to the Company's Form 10-K filed on February 19, 2014).

 

 

 

 

 

 

(d)

Amendment to the Fifth Amended and Restated Agreement of Limited Partnership Relating to the Series A Cumulative Redeemable Preferred Units, dated August 16, 2023 (incorporated by reference to Exhibit 3.4 in Regency’s Form 8-K filed on August 18, 2023).

 

 

 

 

 

 

(e)

Amendment to the Fifth Amended and Restated Agreement of Limited Partnership Relating to the Series B Cumulative Redeemable Preferred Units, dated August 16, 2023 (incorporated by reference to Exhibit 3.5 in Regency’s Form 8-K filed on August 18, 2023) .

 

 

 

 

4.

Instruments Defining Rights of Security Holders

 

 

 

 

 

 

 

(a)

See Exhibits 3(a) and 3(b) for provisions of the Articles of Incorporation and Bylaws of the Parent Company defining the rights of holders of shares of the common stock and preferred stock of the Parent Company. See Exhibits 3(c), 3(d) and 3 (e) for provisions of the Partnership Agreement of Regency Centers, L.P. defining rights of holders of common and preferred units of the Operating Partnership.

 

 

 

 

 

 

 

(b)

Indenture dated December 5, 2001 between Regency Centers, L.P., the guarantors named therein and First Union National Bank, as trustee (incorporated by reference to Exhibit 4.4 to Regency Centers, L.P.'s Form 8-K filed on December 10, 2001) .

 

 

 

 

 

 

 

 

(i)

First Supplemental Indenture dated as of June 5, 2007 among Regency Centers, L.P., the Company as guarantor and U.S. Bank National Association, as successor to Wachovia Bank, National Association (formerly known as First Union National Bank), as trustee (incorporated by reference to Exhibit 4.1 to Regency Centers, L.P.'s Form 8-K filed on June 5, 2007).

 

 

 

 

 

 

 

 

(ii)

Second Supplemental Indenture dated as of June 2, 2010 to the Indenture dated as of December 5, 2001 between Regency Centers, L.P., Regency Centers Corporation, as guarantor, and U.S. Bank National Association, as successor to Wachovia Bank, National Association (formerly known as First Union National Bank), as Trustee (incorporated by reference to Exhibit 4.1 to the Company’s Form 8-K filed on June 3, 2010) .

 

 

 

 

 

127

 

 

 

 

(iii)

Third Supplemental Indenture dated as of August 17, 2015 to the Indenture dated as of December 5, 2001 among Regency Centers, L.P., Regency Centers Corporation, as guarantor, and U.S. Bank, National Association, as trustee (incorporated by reference to Exhibit 4.1 to the Company’s Form 8-K filed on August 18, 2015) .

 

 

 

 

 

 

 

 

(iv)

Fourth Supplemental Indenture dated as of January 26, 2017 among Regency Centers, L.P., Regency Centers Corporation, as guarantor, and U.S. Bank National Association, as trustee (incorporated by reference to Exhibit 4.1 to the Company's Form 8-K filed on January 26, 2016).

 

 

 

 

 

 

 

 

(v)

Fifth Supplemental Indenture dated as of March 6, 2019 among Regency Centers, L.P., Regency Centers Corporation, as guarantor, and U.S. Bank National Association, as trustee (incorporated by reference to Exhibit 4.1 to the Company's Form 8-K filed on March 6, 2019) .

 

 

 

 

 

 

 

 

(vi)

Sixth Supplemental Indenture dated as of May 13, 2020 among Regency Centers, L.P., Regency Centers Corporation, as guarantor, and U.S. Bank National Association, as trustee (incorporated by reference to Exhibit 4.1 to the Company’s Form 8-K filed on May 13, 2020).

 

 

 

 

 

 

 

 

(vi)

Seventh Supplemental Indenture dated as of January 18, 2024 among Regency Centers, L.P., Regency Centers Corporation, as guarantor, and U.S. Bank Trust Company, National Association, as trustee (incorporated by reference to Exhibit 4.2 to the Company’s 8-K filed on January 18, 2024).

 

 

 

 

 

 

 

(c)

Assumption Agreement, dated as of March 1, 2017, by Regency Centers Corporation (incorporated by reference to Exhibit 4.2 to the Company’s Form 8-K filed on March 1, 2017).

 

 

 

 

 

 

(d)

Description of the Company’s Securities Registered under Section 12 of the Exchange Act (incorporated by reference to Exhibit 4(d) to the Company’s Form 10-K filed on February 16, 2024).

 

 

 

 

 

10.