Real Estate Investments

9 Months Ended

Sep. 30, 2025


2.	Real Estate Investments

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


(in thousands)		Nine months ended September 30, 2025
Date Purchased	Property Name	City/State	Property Type	Regency's Ownership	Purchase Price (1)		Debt Assumed, Net of Discounts (Premium) (1)		Intangible Assets (1)		Intangible Liabilities (1)
Consolidated
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	Rancho Mission Viejo 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		—		—		—
Total consolidated					$	571,510		195,447		65,437		22,727
Unconsolidated
5/12/2025	Armonk Square	Armonk, NY	Operating	20%		26,250		11,884		2,405		5,498
Total unconsolidated					$	26,250		11,884		2,405		5,498
Total property acquisitions					$	597,760		207,331		67,842		28,225

(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.

During the three months ended September 30, 2025, the Company acquired its partners’ remaining ownership interests in two existing consolidated properties for a combined purchase price of $29.4 million. Following these transactions, the Company now owns 100% of the equity interests in both properties.

Subsequent to the period ended September 30, 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 approximately $113 million, and assumed an existing fixed rate mortgage loan on one property of $10 million maturing January 2026 with an interest rate of 3.95%. The remaining six properties were distributed to the other partner.


(in thousands)		Nine months ended September 30, 2024
Date Purchased	Property Name	City/State	Property Type	Regency's Ownership	Purchase Price (1)		Debt Assumed, Net of Discounts (Premium) (1)		Intangible Assets (1)		Intangible Liabilities (1)
Consolidated
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 consolidated					$	71,404		—		5,360		2,175
Unconsolidated
8/30/2024	East Greenwich Square	East Greenwich, RI	Operating	70%		46,650		—		5,127		1,877
Total unconsolidated					$	46,650		—		5,127		1,877
Total property acquisitions					$	118,054		—		10,487		4,052

(1)

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