About the Company
A real estate investment trust, Regency Centres Corporation is one of the largest operators of shopping centres with anchor tenants and grocery stores. It is headquartered in Jacksonville, Florida. The company owns around 415 properties covering an area of 56 million square feet as of October 2020.
In 1963, Martin and Joan Stein established this company as Regency Square Properties. Four years later, this company built the first regional mall in Jacksonville, Regency Square. The company became a public institution and would raise around $108 million during its initial public offering in 1993. In 2004, the company acquired its Branch Properties for a $400 million property portfolio. In December 2004, the company and California State Teachers' Retirement System would form a new co-investment partnership. The company would form it to acquire over $200 million in community shopping centres and neighbourhood. In 1997, the company acquired Public developer and leading owner of shopping centres in Atlanta, Georgia.
In 2005, a partnership was formed with Macquarie CountryWide Trust, and it helped them acquire 101 centres. This would include First Washington Realty, Inc. and California Public Employees' Retirement System for $2.74 billion. The company sold a portfolio of 7 grocery-oriented shopping centres in August 2013 for a joint venture between Blackstone Group and DDR Corp for $332 million. The First Washington Realty Inc. and the California Public Employees' Retirement System would buy back 60% interest in most of the portfolio in 2009. Equity One was acquired in 2009, and in 2019 Hap Stein, CEO of the company, stepped down and was succeeded by Lisa Palmer.
Regency Centres is an operator, developer and preeminent national owner of open-air shopping centres located in affluent and densely populated trade areas. Net operating income growth, sector-leading balance sheet, and accretive investments is a source of cash flow, earning and dividend for the company. The company was added to the S&P 500 list in March 2017. It has offices across 19 locations including, Florida, Georgia, Pennsylvania, Ohio, Texas, Colorado, New York, Washington, Oregon, California, Illinois, etc. Regency Centres Corporation shares are traded on the NASDAQ stock exchange under the ticker symbol "REG.";
|Organisation||Regency Centers Corporation|