EXHIBIT 99.2

Equity One, Inc.
Supplemental Information Package

September 30, 2003

Equity One, Inc.
1696 N.E. Miami Gardens Drive
North Miami Beach, Florida 33179
Tel: (305) 947-1664 Fax: (305) 947-1734
www.equityone.net

Equity One, Inc.

SUPPLEMENTAL INFORMATION
September 30, 2003
(unaudited)

TABLE OF CONTENTS	Page
SUMMARY OPERATING INFORMATION		3
SUMMARY BALANCE SHEET INFORMATION		4
CONSOLIDATED STATEMENTS OF OPERATIONS		5
PRO FORMA FINANCIAL INFORMATION FOR DISCONTINUED OPERATIONS		6
CONSOLIDATED STATEMENTS OF FUNDS FROM OPERATIONS		8
CONSOLIDATED BALANCE SHEETS		9
DEBT SUMMARY		10
PROPERTY STATUS REPORT		14
ANNUAL MINIMUM RENT BY STATE		20
LEASING ACTIVITY		21
TENANT CONCENTRATION SCHEDULE		23
SHOPPING CENTER LEASE EXPIRATION SCHEDULES		25
REAL ESTATE DEVELOPMENTS AND REDEVELOPMENTS		28
REAL ESTATE ACQUISITIONS AND DISPOSITIONS		29
JOINT VENTURE INVESTMENTS		30
STOCK PRICE AND VOLUME STATISTICS		31

Forward Looking Statements

Certain information contained in this Supplemental Information Package constitute forward-looking statements within the meaning of the federal securities laws. Although Equity One believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that these expectations will be achieved. Factors that could cause actual results to differ materially from current expectations include changes in macro-economic conditions and the demand for retail space in Florida, Texas, Georgia and the other states in which Equity One owns properties; the continuing financial success of Equity One’s current and prospective tenants; continuing supply constraints in its geographic markets; the availability of properties for acquisition; the success of its efforts to lease up vacant properties; the effects of natural and other disasters; the ability of Equity One to successfully integrate the operations and systems of acquired companies and properties; and other risks, which are described in Equity One’s filings with the Securities and Exchange Commission.

Basis of Presentation

On February 12, 2003, Equity One and IRT Property Company completed a statutory merger. The transaction has been accounted for as a purchase and the results of Equity One include the activity of the former IRT Property Company for the period from February 12, 2003 through September 30, 2003.

EQUITY ONE, INC. AND SUBSIDIARIES
SUMMARY OPERATING INFORMATION
for the periods ended September 30, 2003 and 2002
(in thousands, except per share data)

			Three months ended						Nine months ended
			Sep 30, 2003			Sep 30, 2002			Sep 30, 2003			Sep 30, 2002
Total dividends paid per share			$	0.28		$	0.27		$	0.82		$	0.81
Funds from operations per share			$	0.37		$	0.39		$	1.08		$	1.08
	Dividend / FFO payout ratio			75.7	%		69.2	%		75.9	%		75.0	%
	FFO multiple (annualized if < 12 months)			11.5			9.0			11.8			6.5
Adjusted funds from operations per share			$	0.33		$	0.37		$	1.01		$	1.02
	Dividend / AFFO payout ratio			84.8	%		73.0	%		81.2	%		79.4	%
	AFFO multiple (annualized if < 12 months)			12.9			9.5			12.6			6.9
Income before minority interest			$	17,476		$	10,951			46,551			32,707
	Income from discontinued operations			(1,421	)		(1,617	)		(4,036	)		(10,439	)
	(Gain) loss on extinguishment of debt			—			(1,520	)		623			(1,520	)
	Interest expense			10,167			5,208			28,598			16,616
	Amortization of deferred financing fees			259			169			853			582
	Rental property depreciation and amortization, excluding discontinued operations			7,535			3,428			19,576			9,953
	Pro-rata share from unconsolidated joint ventures
		Depreciation and amortization		83			152			383			466
		Interest expense		189			367			889			1,103
EBITDA			$	34,288		$	17,138		$	93,437		$	49,468
Interest expense, including joint venture interest			$	10,356		$	5,575		$	29,487		$	17,719
EBITDA : interest coverage ratio				3.3			3.1			3.2			2.8
EBITDA margin (EBITDA/total rental revenues)				67.5	%		68.6	%		67.9	%		67.7	%
Net operating income (NOI) from continuing operations
	Total rental revenue		$	50,829		$	24,987		$	137,556		$	73,042
	Property operating expenses (1)			14,136			7,414			38,416			21,554
Net operating income			$	36,693		$	17,573		$	99,140		$	51,488
NOI margin (NOI/total rental income)				72.2	%		70.3	%		72.1	%		70.5	%

(1) net of intercompany expenses.

Same property NOI (2)
	Total rental revenue	$	23,564		$	22,767		$	67,545		$	65,997
	Property operating expenses		7,357			7,196			20,652			20,054
Net operating income		$	16,207		$	15,571		$	46,893		$	45,943
Growth in same property NOI			4.1	%					2.1	%
Growth in same property NOI, excluding termination fees			4.8	%					1.9	%
Same property occupancy			88.6	%		89.7	%		88.2	%		89.4	%

(2) Includes only those properties operated in the current and prior periods; excludes the effects of prior year expense recoveries and adjustments, if any.

General & administrative expenses		$	2,737		$	1,435		$	7,936		$	5,020
	as % of total rental revenues		5.38	%		5.74	%		5.77	%		6.87	%
	as % of total assets (annualized)		0.67	%		0.80	%		0.65	%		0.93	%

Page 3

EQUITY ONE, INC. AND SUBSIDIARIES
SUMMARY BALANCE SHEET INFORMATION
as of September 30, 2003 and December 31, 2002
(in thousands, except per share data)

					Sep 30, 2003			Dec 31, 2002
Closing market price					$	17.00		$	13.35
Dividend yield (based on current annualized dividend)						6.59	%		8.09	%
Book value per share (fully diluted, end of period)					$	11.69		$	10.00
Liquidity
	Cash and cash equivalents				$	—		$	2,944
	Cash held in escrow				$	—		$	5,933
	Revolving credit facilities
	Gross available under current credit facilities					345,000			81,703
			less: Outstanding balance			(138,000	)		(23,000	)
				Holdback for letters of credit		(1,378	)		(1,073	)
				Escrowed for tax and insurance		—			(186	)
		Net available under credit facilities			$	205,622		$	57,444
Equity capitalization (end of period)
	Common stock shares (in thousands)
		Basic common stock shares				67,641.248			34,210.147
		Diluted common shares
				Unvested restricted common shares		675.094			330.335
				Walden Woods shares		93.656			93.656
				Northport operating partnership units		—			261.850
				IRT Partners operating partnership units		734.266			—
				Common stock options (treasury method, closing price)		429.934			113.248
		Fully diluted common stock shares				69,574.198			35,009.236
Total debt (excluding unamortized premium)					$	729,453		$	355,143
	Cash and cash equivalents, cash held in escrow					—			(8,877	)
	Securities held for sale					—			(912	)
Net debt						729,453			345,354
Equity market capitalization (fully diluted, end of period)						1,182,761			467,373
	Total market capitalization				$	1,912,214		$	812,727
Net debt to total market capitalization						38.1	%		42.5	%
Gross real estate investments					$	1,610,695		$	718,864
Net debt to gross real estate investments						45.3	%		48.0	%
Fixed rate debt (excluding unamortized premium)					$	591,453		$	307,508
Variable rate debt — hedged						70,000			—
Variable rate debt — unhedged						68,000			47,635
Total debt					$	729,453		$	355,143
	% Fixed rate debt					81.1	%		86.6	%
	% Variable rate debt — hedged					9.6	%		0.0	%
	% Variable rate debt — unhedged					9.3	%		13.4	%
	Weighted-average interest rate on mortgage debt					7.43	%		7.52	%
	Weighted-average interest rate on senior unsecured notes					7.55	%		N/A
	Weighted-average interest rate on revolving credit facilities					2.17	%		N/A

Page 4

EQUITY ONE, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
for the periods ended September 30, 2003 and 2002
(in thousands, except per share data)

		Three months ended						Nine months ended
		Sep 30, 2003			Sep 30, 2002			Sep 30, 2003			Sep 30, 2002
Rental revenue:
	Minimum rents	$	39,503		$	19,019		$	105,708		$	54,407
	Expense recoveries		10,698			5,572			29,247			16,790
	Termination fees		304			284			801			518
	Percentage rent payments		324			112			1,800			1,327
Total rental revenue			50,829			24,987			137,556			73,042
Costs and expenses:
	Property operating expenses		14,136			7,414			38,416			21,554
	Interest expense		10,167			5,208			28,598			16,616
	Amortization of deferred financing fees		259			169			853			582
	Rental property depreciation and amortization		7,535			3,428			19,576			9,953
	General and administrative expenses		2,737			1,435			7,936			5,020
Total costs and expenses			34,834			17,654			95,379			53,725
Income before other income and expenses, discontinued operations and minority interest			15,995			7,333			42,177			19,317
Other income and expenses:
	Investment income		66			452			940			1,257
	Other income		48			48			138			183
	Equity in loss of joint ventures		(54	)		(19	)		(117	)		(9	)
	Gain (loss) on extinguishment of debt		—			1,520			(623	)		1,520
Income before discontinued operations and minority interest			16,055			9,334			42,515			22,268
Discontinued operations:
	Income from operations of sold properties		212			526			953			2,245
	Gain on disposal of income producing properties		1,209			1,091			3,083			8,194
Total income from discontinued operations			1,421			1,617			4,036			10,439
Income before minority interest			17,476			10,951			46,551			32,707
Minority interest			(227	)		(25	)		(606	)		(76	)
Net income		$	17,249		$	10,926		$	45,945		$	32,631
Basic earnings per share Income before discontinued operations		$	0.25		$	0.27		$	0.73		$	0.69
	Income from discontinued operations		0.02			0.05			0.07			0.32
Net income		$	0.27		$	0.32		$	0.80		$	1.01
Diluted earnings per share
Income before discontinued operations		$	0.25		$	0.27		$	0.72		$	0.68
Income from discontinued operations			0.02			0.05			0.07		$	0.32
Net income		$	0.27		$	0.32		$	0.79		$	1.00
Weighted average shares outstanding
Basic			63,777			33,926			57,348			32,195
Diluted			65,523			34,785			58,977			32,956

Page 5

EQUITY ONE, INC. AND SUBSIDIARIES
PRO FORMA FINANCIAL INFORMATION FOR DISCONTINUED OPERATIONS
for the periods ended September 30, 2003
(in thousands, except per share data)

		Three months ended									Nine months ended
		Sep 30, 2003									Sep 30, 2003
		As			Discontinued			Pre SFAS			As			Discontinued			Pre SFAS
		Reported			Operations			No. 144			Reported			Operations			No. 144
Rental revenue:
	Minimum rents	$	39,503		$	251		$	39,754		$	105,708		$	886		$	106,594
	Expense recoveries		10,698			22			10,720			29,247			68			29,315
	Termination fees		304			—			304			801			—			801
	Percentage rent payments		324			—			324			1,800			—			1,800
Total rental revenue			50,829			273			51,102			137,556			954			138,510
Costs and expenses:
	Property operating expenses		14,136			66			14,202			38,416			167			38,583
	Interest expense		10,167			131			10,298			28,598			328			28,926
	Amortization of deferred financing fees		259			—			259			853			1			854
	Rental property depreciation and amortization		7,535			39			7,574			19,576			130			19,706
	General and administrative expenses		2,737			—			2,737			7,936						7,936
Total costs and expenses			34,834			236			35,070			95,379			626			96,005
Income before other income and expenses, discontinued operations and minority interest			15,995			37			16,032			42,177			328			42,505
Other income and expense:
	Investment income		66			—			66			940			—			940
	Other income		48			—			48			138			—			138
	Equity in income (loss) of joint ventures		(54	)		175			121			(117	)		625			508
	Loss on extinguishment of debt		—			—			—			(623	)		—			(623	)
Income before discontinued operations and minority interest			16,055			212			16,267			42,515			953			43,468
Discontinued operations:
	Income from operations of sold properties		212			(212	)					953			(953	)
	Gain on disposal of income producing properties		1,209			—			1,209			3,083			—			3,083
Income from discontinued operations			1,421			(212	)		1,209			4,036			(953	)		3,083
Income before minority interest			17,476			—			17,476			46,551			—			46,551
Minority interest			(227	)		—			(227	)		(606	)		—			(606	)
Net income		$	17,249		$	—		$	17,249		$	45,945		$	—		$	45,945

Note: The Company adopted SFAS No. 144, “Accounting for the Impairment or Disposal of Long-Lived Assets” (“SFAS No. 144”), effective January 1, 2002. This standard requires that operating results of income producing real estate assets that are sold or held for sale be included in discontinued operations in the statement of earnings for all periods presented. The above table presents the results as reported pursuant to SFAS No. 144, results of the assets sold or held for sale and the results before the impact of SFAS No. 144.

Page 6

EQUITY ONE, INC. AND SUBSIDIARIES
PRO FORMA FINANCIAL INFORMATION FOR DISCONTINUED OPERATIONS
for the periods ended September 30, 2002
(in thousands, except per share data)

			Three months ended									Nine months ended
			Sep 30, 2002									Sep 30, 2002
			As			Discontinued			Pre SFAS			As			Discontinued			Pre SFAS
			Reported			Operations			No. 144			Reported			Operations			No. 144
Rental revenue:
	Minimum rents		$	19,019		$	622		$	19,641		$	54,407		$	2,812		$	57,219
	Expense recoveries			5,572			120			5,692			16,790			432			17,222
	Termination fees			284			—			284			518			25			543
	Percentage rent payments			112			—			112			1,327			—			1,327
Total rental revenue				24,987			742			25,729			73,042			3,269			76,311
Costs and expenses:
	Property operating expenses			7,414			153			7,567			21,554			791			22,345
	Interest expense			5,208			47			5,255			16,616			262			16,878
	Amortization of deferred financing fees			169			59			228			582			67			649
	Rental property depreciation and amortization			3,428			104			3,532			9,953			351			10,304
	General and administrative expenses			1,435			—			1,435			5,020			—			5,020
Total costs and expenses				17,654			363			18,017			53,725			1,471			55,196
Income before other income and expenses, discontinued operations and minority interest				7,333			379			7,712			19,317			1,798			21,115
Other income and expenses:
	Investment income			452			—			452			1,257			—			1,257
	Other income			48			2			50			183			2			185
	Equity in income (loss) of joint ventures			(19	)		145			126			(9	)		445			436
	Gain on extinguishment of debt			1,520			—			1,520			1,520			—			1,520
Income before discontinued operations and minority interest				9,334			526			9,860			22,268			2,245			24,513
Discontinued operations:
	Income from operations of sold properties			526			(526	)		—			2,245			(2,245	)		—
	Gain on disposal of income producing properties			1,091			—			1,091			8,194			—			8,194
		Total income from discontinued operations		1,617			(526	)		1,091			10,439			(2,245	)		8,194
Income before minority interest				10,951			—			10,951			32,707			—			32,707
Minority interest				(25	)		—			(25	)		(76	)		—			(76	)
Net income			$	10,926		$	—		$	10,926		$	32,631		$	—		$	32,631

Note: The Company adopted SFAS No. 144, “Accounting for the Impairment or Disposal of Long-Lived Assets” (“SFAS No. 144”), effective January 1, 2002. This standard requires that operating results of income producing real estate assets that are sold or held for sale be included in discontinued operations in the statement of earnings for all periods presented. The above table presents the results as reported pursuant to SFAS No. 144, results of the assets sold or held for sale and the results before the impact of SFAS No. 144.

Page 7

EQUITY ONE, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF FUNDS FROM OPERATIONS
for the periods ended September 30, 2003 and 2002
(in thousands, except per share data)

			Three months ended						Nine months ended
			Sep 30, 2003			Sep 30, 2002			Sep 30, 2003			Sep 30, 2002
Net income			$	17,249		$	10,926		$	45,945		$	32,631
	Adjustments:
		Rental property depreciation and amortization, including discontinued operations		7,574			3,532			19,706			10,304
		Gain on disposal of income producing properties		(1,209	)		(1,091	)		(3,083	)		(8,194	)
		Minority interest		227			25			606			76
	Other items:
		Interest on convertible partnership units		—			64			43			194
		Pro-rata share of real estate depreciation from joint ventures		83			152			383			466
Funds from operations (FFO)			$	23,924		$	13,608		$	63,600		$	35,477
		Increase		75.8	%					79.3	%
FFO per share (diluted)			$	0.37		$	0.39		$	1.08		$	1.08
		Decrease		-5.1	%					0.0	%
Adjusted funds from operations (AFFO)
Funds from operations			$	23,924		$	13,608		$	63,600		$	35,477
less:
	Straight line rents			402			248			1,212			313
	Recurring capital expenditures
		Tenant improvements		372			120			707			463
		Leasing commissions and costs		897			162			1,428			504
		Other capital expenditures		626			76			933			594
	Total recurring capital expenditures			1,895			358			3,068			1,561
Adjusted funds from operations			$	21,627		$	13,002		$	59,320		$	33,603
		Increase		66.3	%					76.5	%
AFFO per share (diluted)			$	0.33		$	0.37		$	1.01		$	1.02
		Decrease		-10.8	%					-1.0	%
Weighted average diluted shares				65,523			34,785			58,977			32,956

Page 8

EQUITY ONE, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
as of September 30, 2003 and December 31, 2002
(in thousands, except per share data)

				Sep 30, 2003			Dec 31, 2002
Assets
	Properties
		Income producing		$	1,557,967		$	682,941
		Less: accumulated depreciation			(59,274	)		(40,433	)
			Rental property		1,498,693			642,508
		Construction in progress and land held for development			42,185			35,923
		Property held for sale			10,543
			Rental property		1,498,693			642,508
	Properties, net				1,551,421			678,431
	Cash and cash equivalents				—			2,944
	Cash held in escrow				—			5,933
	Accounts and other receivables, net				10,105			7,053
	Investments in and advances to joint ventures				2,869			10,021
	Goodwill				22,535			2,276
	Other assets				36,244			23,411
Total				$	1,623,174		$	730,069
Liabilities and stockholders’ equity
	Liabilities
		Mortgage notes payable		$	441,453		$	332,143
		Unsecured revolving credit facilities			138,000			—
		Secured revolving credit facilities			—			23,000
		Unsecured senior notes payable			150,000			—
			Total debt		729,453			355,143
		Unamortized premium on notes payable			23,047			—
			Total notes payable		752,500			355,143
		Accounts payable and accrued expenses			35,335			14,760
		Tenant security deposits			7,054			4,342
		Other liabilities			2,173			1,724
	Total liabilities				797,062			375,969
	Minority interest				12,755			3,869
	Stockholders’ equity
		Common stock			683			345
		Additional paid-in capital			828,147			355,450
		Retained earnings			541			5,969
		Accumulated other comprehensive loss			(1,994	)		(46	)
		Unamortized restricted stock compensation			(10,413	)		(4,375	)
		Notes receivable from issuance of common stock			(3,607	)		(7,112	)
	Total stockholders’ equity				813,357			350,231
Total				$	1,623,174		$	730,069

Page 9

EQUITY ONE, INC. AND SUBSIDIARIES
DEBT SUMMARY
as of September 30, 2003
(in thousands)

		Maturity					Sep 30, 2003		Dec 31, 2002
Property		date		Rate (1)			balance		balance
Fixed rate mortgage debt
	Lantana Village		02/15/05		6.950	%	$	3,707	$	3,816
	Elmwood Oaks		06/01/05		8.375	%		7,500		—
	Benchmark Crossing		08/01/05		9.250	%		3,334		3,393
	Sterling Plaza		09/01/05		8.750	%		4,008		4,083
	Townsend Square		10/01/05		8.500	%		4,867		4,922
	Green Oaks		11/01/05		8.375	%		3,042		3,100
	Melbourne Plaza		11/01/05		8.375	%		1,758		1,792
	Oak Hill (*)		01/01/06		7.625	%		—		2,016
	Walden Woods		08/01/06		7.875	%		2,414		2,492
	Big Curve		10/01/06		9.190	%		5,467		5,552
	Highland Square		12/01/06		8.870	%		4,070		4,135
	Park Northern		12/01/06		8.370	%		2,308		2,377
	Crossroads Square f/k/a University Mall		12/01/06		8.440	%		12,554		12,680
	Rosemeade		12/01/07		8.295	%		3,196		3,244
	Colony Plaza		01/01/08		7.540	%		3,025		3,053
	Parkwood (2)		01/01/08		7.280	%		6,217		6,277
	Richwood (2)		01/01/08		7.280	%		3,203		3,234
	Commonwealth		02/15/08		7.000	%		2,782		2,864
	Mariners Crossing		03/01/08		7.080	%		3,392		3,425
	Pine Island/Ridge Plaza		07/01/08		6.910	%		25,025		25,274
	Forestwood		01/01/09		5.070	%		7,325		7,425
	Shoppes of North Port		02/08/09		6.650	%		4,132		4,201
	Prosperity Centre		03/01/09		7.875	%		6,478		6,730
	North Village Center		03/15/09		8.130	%		1,518		—
	Shoppes of Ibis		09/01/09		6.730	%		5,907		6,031
	Tamarac Town Square		10/01/09		9.190	%		6,226		—
	Park Promenade		02/01/10		8.100	%		6,317		6,360
	Skipper Palms		03/01/10		8.625	%		3,564		3,585
	Jonathan’s Landing		05/01/10		8.050	%		2,909		2,932
	Bluff’s Square		06/01/10		8.740	%		10,106		10,162
	Kirkman Shoppes		06/01/10		8.740	%		9,543		9,596
	Ross Plaza		06/01/10		8.740	%		6,656		6,693
	Boynton Plaza		07/01/10		8.030	%		7,511		7,561
	Pointe Royale		07/15/10		7.950	%		4,592		4,763
	Plymouth Park East 1 (3)		08/01/10		8.250	%		151		154
	Plymouth Park East 2 (3)		08/01/10		8.250	%		454		463
	Plymouth Park North (3)		08/01/10		8.250	%		8,099		8,260
	Plymouth Park South (3)		08/01/10		8.250	%		605		617
	Plymouth Park Story North (3)		08/01/10		8.250	%		372		380
	Plymouth Park West (3)		08/01/10		8.250	%		2,420		2,468

Page 10

EQUITY ONE, INC. AND SUBSIDIARIES
DEBT SUMMARY
as of September 30, 2003
(in thousands)

		Maturity					Sep 30, 2003		Dec 31, 2002
Property		date		Rate(1)			balance		balance
	Shops at Skylake		08/01/10		7.650	%	$	14,715	$	14,964
	Parkwest Crossing		09/01/10		8.100	%		4,739		—
	Spalding Village		09/01/10		8.190	%		10,610		—
	Minyards		11/01/10		8.320	%		2,520		2,546
	Charlotte Square		02/01/11		9.190	%		3,629		—
	Forest Village		04/01/11		7.270	%		4,500		4,533
	Boca Village		05/01/11		7.200	%		8,320		8,382
	Heritage Walk		05/01/11		7.250	%		7,050		—
	MacLand Pointe		05/01/11		7.250	%		5,875		—
	Pine Ridge Square		05/01/11		7.020	%		7,374		—
	Sawgrass Promenade		05/01/11		7.200	%		8,320		8,382
	Presidential Markets		06/01/11		7.650	%		27,485
	Plaza Del Rey (*)		09/01/11		8.125	%		—		2,202
	Lake Mary		11/01/11		7.250	%		24,590		24,763
	Lake St. Charles		11/01/11		7.130	%		3,883		3,911
	Marco Town Center		01/01/12		6.700	%		8,768		8,875
	Riverside Square		03/01/12		9.190	%		7,718		—
	Cashmere		11/01/12		5.880	%		5,270		5,343
	Eastwood		11/01/12		5.880	%		6,279		6,366
	Meadows		11/01/12		5.870	%		6,599		6,690
	Lutz Lake		12/01/12		6.280	%		7,500		—
	Summerlin Square		02/01/14		6.750	%		3,964		4,156
	Bird Ludlum		02/15/15		7.680	%		10,440		10,857
	Treasure Coast		04/01/15		8.000	%		4,869		—
	Shoppes of Silverlakes		07/01/15		7.750	%		2,818		—
	West Lakes Plaza (*)		06/01/16		7.875	%		—		4,979
	Grassland Crossing		12/01/16		7.870	%		6,022		—
	Mableton Crossing		08/15/18		6.850	%		4,179		—
	Atlantic Village (*)		11/01/18		6.850	%		—		4,449
	Chastain Square		02/28/24		6.500	%		3,941		—
	Daniel Village		02/28/24		6.500	%		4,308		—
	Douglas Commons		02/28/24		6.500	%		5,132		—
	Fairview Oaks		02/28/24		6.500	%		4,857		—
	Madison Centre		02/28/24		6.500	%		3,942		—
	Paulding Commons		02/28/24		6.500	%		6,691		—
	Siegen Village		02/28/24		6.500	%		4,354		—
	Wesley Chapel Crossing		02/28/24		6.500	%		3,438		—
Total fixed rate mortgage debt (73 loans)		6.61 years			7.43	%	$	441,453	$	307,508
	Interest premium	(wtd-avg maturity)		(wtd-avg rate)				9,797		-
Total fixed rate mortgage debt (including interest premium)							$	451,250	$	307,508

Page 11

EQUITY ONE, INC. AND SUBSIDIARIES
DEBT SUMMARY
as of September 30, 2003
(in thousands)

		Maturity					Sep 30, 2003		Dec 31, 2002
Property		date		Rate(1)			balance		balance
Fixed rate unsecured senior notes payable
	7.77% senior notes		04/01/06		7.77	%	$	50,000	$	—
	7.25% senior notes		08/15/07		7.25	%		75,000		—
	7.84% senior notes		01/23/12		7.84	%		25,000		—
Total fixed rate unsecured senior notes payable		4.21 years			7.55	%		150,000		—
	Interest Premium			(wtd-avg rate)				13,250		—
Total fixed rate unsecured senior notes payable (including interest premium)							$	163,250	$	-
Total fixed rate debt							$	591,453	$	307,508
	Interest Premium							23,047		—
Total fixed rate debt (including interest premium)							$	614,500	$	307,508
Variable rate mortgage debt
	Comerica (**)		02/28/04	NA				—		24,635
Total variable rate mortgage debt							$	—	$	24,635
Revolving credit facilities
	$340MM Wells Fargo Unsecured (4)		02/12/06		2.17	%		138,000		—
	$5MM City National Bank Unsecured		08/13/04	NA				—		—
	Wells Fargo Secured (**)		02/26/05	NA				—		23,000
Total revolving credit facilities							$	138,000	$	23,000
Total variable rate debt							$	138,000	$	47,635
Total debt							$	729,453	$	355,143
	Interest Premium							23,047		—
Total debt (including interest premium)							$	752,500	$	355,143
Senior Unsecured Debt Ratings
	Moody’s						Baa3 (Stable)		NA
	S&P						BBB- (Stable)		NA

Page 12

EQUITY ONE, INC. AND SUBSIDIARIES
DEBT SUMMARY
as of September 30, 2003
(in thousands)

		Secured Debt				Unsecured Debt
Maturity schedule		Scheduled		Balloon		Revolving		Senior
by year		amortization		payments (5)		Credit Facilities		Notes		Total
	2003	$	2,156	$	—	$	—	$	—	$	2,156
	2004		8,954		—		—		—		8,954
	2005		9,415		27,180		—		—		36,595
	2006		9,654		24,758		138,000		50,000		222,412
	2007		9,740		2,864		—		75,000		87,604
	2008		9,779		40,104		—		—		49,883
	2009		9,134		24,332		—		—		33,466
	2010		8,003		80,848		—		—		88,851
	2011		6,035		90,432		—		—		96,467
	2012		4,987		34,683		—		25,000		64,670
Thereafter			33,361		5,034		—		—		38,395
	Total	$	111,218	$	330,235	$	138,000	$	150,000	$	729,453

(1)	The rate in effect on September 30, 2003.
(2)	The mortgage balances for Parkwood and Richwood represent the future minimum lease payments (net of imputed interest) attributable to lease payments on these two properties, both of which are owned pursuant to capital lease obligations.
(3)	All of the Plymouth loans are with Sun Life of Canada. In the case of Plymouth Park North and East, the collateral has been split into two parts; hence the two individual loans.
(4)	The indicated rate includes the effect of interest rate swaps, if any.
(5)	Represents the entire principal balance of a maturing loan on the maturity date. Credit facilities are shown as due on the initial maturity dates, though certain extension options are available.
(*)	This loan was repaid in full, subject to a prepayment penalty in January 2003.
(**)	Concurrent with the IRT merger this revolving credit facility or variable rate loan was repaid.

Page 13

EQUITY ONE, INC. AND SUBSIDIARIES
PROPERTY STATUS REPORT
as of September 30, 2003

					number
					of tenants		Supermarket anchor
		Year	Total								Average
		built/	square	Percent			owned	shadow	name		base rent
Property	City	renovated	footage	leased	leased	vacant	SF	SF	expiration date	Other anchor tenants	per leased SF
ALABAMA (3)
Madison Centre	Madison	1997	64,837	96.3%	11	1	37,912		Publix (6/1/2017)	Rite Aid	$9.56
Stadium Plaza	Phenix City	1988	70,475	100.0%	21	0	30,625		Piggly Wiggly (1/31/2008)	CVS Pharmacy	7.63
West Gate Plaza	Mobile	1974, 1995 / 1985	64,378	100.0%	9	0	44,000		Winn-Dixie (7/19/2015)	Rite Aid	7.14
TOTAL SHOPPING CENTERS ALABAMA (3)			199,690	98.8%	41	1	112,537	0			$8.08
ARIZONA (3)
Big Curve	Yuma	1969 / 1996	126,402	93.4%	30	3		60,000	Albertsons	Walgreens* (Arizona Drug), Miller’s Outpost	9.82
Park Northern	Phoenix	1982 / 1996	126,852	93.9%	22	3	51,511		Safeway (5/31/2008)	Bealls, Chuck E Cheese	6.65
Southwest Walgreens	Phoenix	1975 / 1998	93,402	52.8%	15	3				Walgreens	10.75
TOTAL SHOPPING CENTERS ARIZONA (3)			346,656	82.6%	67	9	51,511	60,000			$8.66
FLORIDA (73)
North Florida (12)
Atlantic Village	Atlantic Beach	1984 / 1998	100,559	90.2%	23	2	39,795		Publix (10/31/2008)	JoAnn Fabrics	9.96
Beauclerc Village	Jacksonville	1962 / 1988	70,429	86.9%	10	1				Big Lots, Goodwill, Bealls Outlet	7.39
Commonwealth	Jacksonville	1984 / 1998	81,467	95.6%	15	1	48,997		Winn-Dixie (2/28/2018)		8.28
Forest Village	Tallahassee	2000	71,526	96.5%	15	2	37,866		Publix (4/30/2020)		10.18
Ft. Caroline	Jacksonville	1985 / 1995	74,546	100.0%	13	0	45,500		Winn-Dixie (5/31/2015)	Eckerd* (Bealls Outlet)	7.41
Losco	Jacksonville	2000	8,700	100.0%	8	0		45,820	Winn-Dixie		18.75
Mandarin Landing	Jacksonville	1976 / 2000	141,565	96.3%	34	3	34,400		Publix (2/14/2007)	Office Depot, Eckerd	9.07
Monument Point	Jacksonville	1985 / 1997	75,128	100.0%	12	0	46,772		Winn-Dixie (3/27/2005)	Eckerd	6.80
Oak Hill	Jacksonville	1985 / 1997	78,492	100.0%	19	0	39,795		Publix (5/11/2005)	Walgreens* (Bonus Dollar)	6.86
Parkmore Plaza	Milton	1986	159,067	98.5%	12	1				Wal-Mart*(Bealls), Big Lots	4.55
Pensacola Plaza	Pensacola	1985	56,098	91.4%	2	1	42,848		FoodWorld (12/31/2005)		4.27
South Beach	Jacksonville Beach	1990, 1991	289,964	95.5%	43	7	29,000		Food Lion (3/31/2010)	Kmart, Stein Mart, Bealls	9.28
Central Florida (10)
Alafaya Commons	Orlando	1987	123,133	97.9%	27	2	54,230		Publix (11/30/2007)		11.46
Conway Crossing	Orlando	2002	76,321	100.0%	18	0	44,271		Publix (4/30/2022)		11.39
Shoppes of Eastwood	Orlando	1997	69,037	100.0%	13	0	51,512		Publix (11/1/2017)		11.16
Eustis Square	Eustis	1983 / 1997	126,791	68.4%	18	10	15,872		Save-a-Lot (5/31/2013)	Walgreens* (Bealls Outlet)	6.81
Hunters Creek	Orlando	1998	68,032	94.3%	7	3	51,225		Winn-Dixie (9/23/2018)		10.32
Kirkman Shoppes	Orlando	1973	88,820	96.1%	29	2				Eckerd	14.08
Lake Mary	Orlando	1988 / 2001	342,384	96.5%	62	25	63,139		Albertsons (6/30/2012)	Kmart, Euro Fitness, Sun Star Theatres	10.76
Park Promenade	Orlando	1987 / 2000	125,818	97.0%	24	2	55,000		Publix (2/9/2007)	Orange County Library, Blockbuster, Goodwill	9.36
Town & Country	Kissimmee	1993	72,043	100.0%	13	0	52,883		Albertsons (10/31/2018)		7.18
Unigold	Winter Park	1987	106,185	100.0%	21	0	52,500		Winn-Dixie (4/30/2007)	World Gym	9.85
Florida West Coast (17)
Bay Pointe Plaza	St. Petersburg	1984 / 2002	97,390	91.6%	18	6	46,014		Publix (11/30/2021)	Eckerd* (Bealls), West Marine	10.29
Carrollwood	Tampa	1970 / 2002	94,203	86.5%	29	7	27,887		Publix (11/30/2022)	Eckerd	10.79
Charlotte Square	Port Charlotte	1980	96,188	98.1%	26	1	44,024		Publix (1/31/2011)	Seafood Buffet	7.83
Chelsea Place	New Port Richey	1992	81,144	100.0%	18	0	48,890		Publix (5/27/2012)	Eckerd	10.93
East Bay Plaza	Largo	1985 / 1997	85,426	57.2%	19	3		53,000	Albertsons	Family Dollar, Hollywood Video	9.90
Lake St. Charles	Tampa	1999	57,015	97.9%	7	1	46,295		Kash n’ Karry (6/30/2019)		9.64
Lutz Lake	Lutz	2002	64,985	100.0%	15	0	44,270		Publix		13.61

Page 14

EQUITY ONE, INC. AND SUBSIDIARIES
PROPERTY STATUS REPORT
as of September 30, 2003

					number
					of tenants		Supermarket anchor
		Year	Total								Average
		built/	square	Percent			owned	shadow	name		base rent
Property	City	renovated	footage	leased	leased	vacant	SF	SF	expiration date	Other anchor tenants	per leased SF
									(5/31/2022)
Florida West Coast (continued)
Marco Town Center	Marco Island	2001	109,830	94.4%	39	6	27,887		Publix (1/31/2018)		$16.05
Mariners Crossing	Spring Hill	1989 / 1999	85,507	92.4%	12	3	48,315		Kash n’ Karry (4/30/2020)		7.92
North River Village Center	Ellenton	1988, 1993	177,128	100.0%	16	0	42,112		Publix (7/20/2008)	Kmart, Walgreens* (Dollar Tree), Bealls	7.23
Regency Crossing	Port Richey	1986 / 2001	85,864	89.9%	17	7	44,270		Publix (2/28/2021)		10.55
Ross Plaza	Tampa	1984 / 1996	85,359	90.4%	18	2				Walgreens*, Ross Dress for Less	9.98
Seven Hills	Spring Hill	1991	64,590	100.0%	12	0	48,890		Publix (9/25/2011)		9.60
Shoppes of North Port	North Port	1991	84,705	100.0%	22	0	48,890		Publix (12/11/2011)	Bealls Outlet	9.66
Skipper Palms	Tampa	1984	88,000	94.3%	15	2	53,440		Winn-Dixie (5/31/2016)		8.51
Summerlin Square	Fort Myers	1986 / 1998	109,156	92.4%	22	6	45,500		Winn-Dixie (6/4/2006)	Eckerd	10.16
Venice Plaza	Venice	1971, 1979 / 1999	159,473	63.6%	13	5	42,582		Kash n’ Karry (9/30/2018)	TJ Maxx	5.18
Florida Treasure Coast (8)
Bluffs Square	Jupiter	1986	132,395	97.4%	46	4	39,795		Publix (10/22/2006)	Walgreens	11.44
Cashmere Corners	Port St. Lucie	2001	89,234	100.0%	18	0	59,448		Albertsons (4/30/2025)		7.93
Jonathan’s Landing	Jupiter	1997	26,820	100.0%	12	0		53,850	Albertsons	Blockbuster	18.41
New Smyrna Beach	New Smyrna Beach	1987	118,451	92.7%	30	4	42,112		Publix (9/30/2007)	Walgreens* (Bealls), Burke’s	9.96
Old King Commons	Palm Coast	1988	84,759	100.0%	19	0				Wal-Mart* (Scotty’s, Staples)	7.92
Ryanwood	Vero Beach	1987	114,925	99.0%	31	1	39,795		Publix (3/23/2017)	Bealls Outlet, Books-A-Million	9.44
Salerno Village	Stuart	1987	58,804	95.6%	15	3	31,503		Winn Dixie (9/21/2007)	Eckerd	6.60
Treasure Coast	Vero Beach	1983	133,781	93.0%	20	5	59,450		Winn Dixie (4/12/2015)	TJ Maxx	8.55
South Florida / Atlantic Coast (26)
Bird Ludlum	Miami	1988 / 1998	192,282	96.9%	47	1	44,400		Winn-Dixie (12/31/2007)	Eckerd, Blockbuster, Goodwill	14.77
Boca Village	Boca Raton	1978	93,428	97.6%	21	1	36,000		Publix (3/31/2007)	Eckerd	14.55
Boynton Plaza	Boynton Beach	1978 / 1999	99,324	87.3%	25	4	37,664		Publix (8/31/2003)	Eckerd	9.85
Countryside Shops	Cooper City	1986, 1988, 1991	179,561	98.6%	44	2	39,795		Publix (12/4/2005)	Eckerd*, Stein Mart	12.17
Crossroads Square f/k/a University Mall	Ft. Lauderdale	1973	262,247	86.7%	17	10				Lowe’s (under construction), Eckerd	6.80
El Novillo	Miami Beach	1970 / 2000	10,000	100.0%	1	0				Jumbo Buffet	15.05
Epsilon	W. Palm Beach	1925 / 1997	18,707	24.6%	3	2					15.72
Greenwood	Palm Springs	1982, 1994	132,325	91.3%	29	6	50,032		Publix (12/5/2014)	Bealls, World Savings Bank	11.81
Lago Mar	Miami	1995	82,613	92.3%	19	2	42,323		Publix (9/13/2015)		12.64
Lantana Village	Lantana	1976 / 1999	175,480	99.0%	23	3	39,473		Winn-Dixie (2/15/2011)	Kmart, Rite Aid* (Dollar Store)	6.52
Meadows	Miami	1997	75,524	100.0%	20	0	47,955		Publix (7/9/2017)		12.40
Pine Island	Davie	1983 / 1999	254,907	97.4%	44	2	39,943		Publix (11/30/2013)	Home Depot Expo, Rite Aid* (Bealls Outlet)	9.38
Pine Ridge Square	Coral Springs	1986 / 1998, 1999	117,399	99.2%	34	1	17,441		Fresh Market (6/30/2009)	Bed Bath & Beyond, Off Main Furniture	12.95
Plaza Alegre	Miami	2003	88,111	93.5%	16	4	44,271		Publix (3/14/2023)	Goodwill	14.06
Plaza Del Rey	Miami	1985 / 1996	50,146	100.0%	23	0				Navarro Pharmacy	12.96
Point Royale	Miami	1970 / 2000	209,863	93.9%	23	3	45,350		Winn-Dixie (2/18/2011)	Best Buy, Eckerd* (Linen Supermarket)	6.51
Prosperity Centre	Palm Beach Gardens	1993	122,106	100.0%	9	0				Office Depot, Barnes & Noble, Bed Bath & Beyond, Carmine’s, TJ Maxx	14.80
Ridge Plaza	Davie	1984 / 1999	155,204	95.4%	25	4		(see Pine Island)	Publix	AMC Theater, Kabooms, Republic Security Bank, Uncle Funny’s, Round Up	8.91
Riverside Square	Coral Springs	1987	107,941	92.9%	31	4	39,795		Publix (2/18/2007)		13.21
Sawgrass Promenade	Deerfield Beach	1982 / 1998	107,092	93.7%	27	2	36,464		Publix (11/30/2004)	Walgreens, Blockbuster	11.07
Sheridan	Hollywood	1973 / 1991	455,864	98.1%	61	5	65,537		Publix (10/9/2011)	Ross, Bed Bath & Beyond, Eckerd, Spirit of America*	13.10

Page 15

EQUITY ONE, INC. AND SUBSIDIARIES
PROPERTY STATUS REPORT
as of September 30, 2003

					number
					of tenants		Supermarket anchor
		Year	Total								Average
		built/	square	Percent			owned	shadow	name		base rent
Property	City	renovated	footage	leased	leased	vacant	SF	SF	expiration date	Other anchor tenants	per leased SF
South Florida / Atlantic Coast (continued)
Shoppes of Ibis	West Palm Beach	1999	79,420	100.0%	18	0	51,420		Publix (4/30/2019)		$12.38
Shops at Skylake	North Miami Beach	1999-2003	174,199	99.4%	43	1	51,420		Publix (7/31/2019)	Goodwill, Blockbuster	15.14
Shoppes of Silverlakes	Pembroke Pines	1995, 1997	126,638	97.8%	35	2	47,813		Publix (6/14/2015)		15.86
Tamarac Town Square	Tamarac	1987	127,635	83.4%	27	12	37,764		Publix (12/15/2014)		10.33
West Lakes Plaza	Miami	1984 / 2000	100,747	100.0%	27	0	46,216		Winn-Dixie (10/31/2016)	Navarro Pharmacy	10.81
TOTAL SHOPPING CENTERS FLORIDA (73)			8,390,000	94.3%	1,639	199	2,598,050	152,670			$10.30
Georgia (23)
Atlanta (16)
Butler Creek	Acworth	1990	95,597	98.7%	19	1	59,997		Kroger (06/30/2018)		10.81
Chastain Square	Atlanta	1981 / 2001	91,637	87.7%	21	7	37,366		Publix (5/31/2024)		15.67
Commerce Crossing	Commerce	1988	100,668	90.4%	7	3	32,000		Ingles (9/26/2009)	Wal-Mart*	4.04
Douglas Commons	Douglasville	1988	97,027	98.6%	18	1	59,431		Kroger (8/31/2013)		9.98
Fairview Oaks	Ellenwood	1997	77,052	100.0%	13	0	54,498		Kroger (9/30/2016)		11.10
Grassland Crossing	Alpharetta	1996	90,906	95.9%	13	1	70,086		Kroger (6/30/2016)		11.58
Mableton Crossing	Mableton	1997	86,819	94.5%	15	3	63,419		Kroger (8/31/2017)		10.03
Macland Pointe	Marietta	1992, 1993	79,699	96.6%	15	2	55,999		Publix (12/29/2012)		10.02
Market Place	Norcross	1976	77,706	93.7%	20	3				Peachtree Cinema	7.39
Paulding Commons	Dallas	1991	192,391	100.0%	31	0	49,700		Kroger (2/28/2011)	Kmart	8.19
Powers Ferry Plaza	Marietta	1979, 1987 / 1998	86,473	87.5%	21	3				Micro Center	10.41
Presidential Markets	Snellville	1993-2000	396,408	100.0%	40	0	56,146		Publix (12/31/2019)	Bed Bath & Beyond, GAP, Shoe Carnival, Marshalls	10.20
Shops of Huntcrest	Lawrenceville	2003	97,040	88.5%	18	8	54,340		Publix (1/31/2023)		12.13
Wesley Chapel Crossing	Decatur	1989	170,792	99.1%	24	1	32,000		Ingles (9/25/2009)	Wal-Mart, CVS Pharmacy	6.72
West Towne Square	Rome	1988	89,596	88.6%	15	3				Big Lots, Eckerd*	5.70
Williamsburg @ Dunwoody	Dunwoody	1983	44,928	92.9%	24	3					17.51
Central Georgia (5)
Daniel Village	Augusta	1956 / 1997	171,932	91.9%	33	6	45,971		Bi-Lo (3/25/2022)	Eckerd*, St. Joseph Home Health Care	7.81
Heritage Walk	Milledgeville	1991, 1992	159,991	100.0%	12	0	46,676		Kroger (3/312020)	Kmart	6.04
Spalding Village	Griffin	1989	235,318	60.1%	23	5	59,431		Kroger (5/31/2014)	JC Penney	7.74
Walton Plaza	Augusta	1990	43,460	97.2%	7	1	32,960		Harris Teeter* (Omni Fitness) (4/1/2011)		9.53
Watson Central	Warner Robins	1989	227,747	83.2%	10	19	45,000		Winn-Dixie* (12/5/2010)	Wal-Mart* (Big Lots)	5.04
South Georgia (2)
Colony Square	Fitzgerald	1987	50,000	96.4%	7	1	32,200		Food Lion (12/31/2007)		6.69
McAlphin Square	Savannah	1979	176,807	94.4%	24	2	43,600		Kroger (8/31/2015)	US Post Office, Big Lots, In Fashion Menswear Outlet	7.23
TOTAL SHOPPING CENTERS GEORGIA (23)			2,939,994	92.0%	430	73	930,820	0			$8.71
KENTUCKY (1)
Scottsville Square	Bowling Green	1986	38,450	91.0%	9	3				Hancock Fabrics, Zap Zone	6.76
TOTAL SHOPPING CENTERS KENTUCKY (1)			38,450	91.0%	9	3	0	0			$6.76
LOUISIANA (16)
Ambassador Row	Lafayette	1980, 1991	193,978	98.5%	23	2				Hobby Lobby, Conn’s Appliances, Big Lots, Chuck E Cheese	7.88
Ambassador Row Courtyards	Lafayette	1986, 1991	158,783	81.2%	20	10				Marshalls, Bed Bath & Body, Hancock Fabrics	8.61
Bluebonnet Village	Baton Rouge	1983	90,215	80.0%	19	3	33,387		Matheme’s (11/30/2010)		8.47
The Boulevard	Lafayette	1976, 1994	68,012	59.7%	9	6				Piccadilly, Harbor Freight Tools	8.12

Page 16

EQUITY ONE, INC. AND SUBSIDIARIES
PROPERTY STATUS REPORT
as of September 30, 2003

					number
					of tenants		Supermarket anchor
		Year	Total								Average
		built/	square	Percent			owned	shadow	name		base rent
Property	City	renovated	footage	leased	leased	vacant	SF	SF	expiration date	Other anchor tenants	per leased SF
LOUISIANA (continued)
Country Club Plaza	Slidell	1982 / 1994	64,686	94.6%	10	1	33,387		Winn-Dixie (1/31/2008)	Dollar General	$5.76
The Crossing	Slidell	1988, 1993	113,989	97.4%	13	2	58,432		Albertsons (9/29/2009)	A-1 Home Appliance, Piccadilly	5.50
Elmwood Oaks	Harahan	1989	133,995	91.0%	7	1				Wal-Mart* (Academy Sports, Dollar Tree), A-1 Appliance, Advance Auto* (Goodwill)	9.00
Grand Marche	Lafayette	1969	200,585	100.0%	1	0			Piggly Wiggly	Academy Sports	0.14
Millervillage	Baton Rouge	1983, 1992	94,559	36.1%	11	3				Rite Aid	8.19
Pinhook Plaza	Lafayette	1979, 1992	194,725	31.4%	20	11				Rite Aid	8.20
Plaza Acadienne	Eunice	1980	105,419	100.0%	8	0	28,092		Super 1 Store (6/30/2005)	Fred’s, Howard Brothers	3.58
Sherwood South	Baton Rouge	1972, 1988, 1992	77,107	97.7%	9	1	22,500		Piggly Wiggly (2/28/2007)	Burke’s Outlet, Harbor Freight Tools, Blockbuster	6.14
Siegen Village	Baton Rouge	1988	174,578	90.8%	18	4				Office Depot, Big Lots, Stage, Party City	8.26
Tarpon Heights	Galliano	1982	56,605	46.8%	7	3				Eckerd	5.98
Village at Northshore	Slidell	1988	144,638	100.0%	12	0				Service Merchandise* (Marshalls), Kirschman’s, Bed Bath & Beyond	7.63
Wal-Mart Stores, Inc.	Mathews	1985	54,223	100.0%	1	0				Wal-Mart	2.90
TOTAL SHOPPING CENTERS LOUISIANA (16)			1,926,097	82.4%	188	47	175,798	0			$6.30
MISSISSIPPI (1)
Shipyard Plaza	Pascagoula	1987	66,857	100.0%	7	0				Rite Aid, Big Lots	5.72
TOTAL SHOPPING CENTERS MISSISSIPPI (1)			66,857	100.0%	7	0	0	0			$5.72
NORTH CAROLINA (12)
Centre Pointe Plaza	Smithfield	1989	160,442	76.0%	17	1				Wal-Mart* (Belk’s, Goody’s)	5.84
Chestnut Square	Brevard	1985	39,640	96.0%	6	1	21,000		Food Lion (9/28/2010)	Eckerd* (Dollar General)	6.88
The Galleria	Wrightsville Beach	1986, 1990	92,344	84.1%	29	10	28,000		Harris Teeter (4/5/2006)	Eckerd	9.37
Parkwest Crossing	Durham	1990	85,602	98.4%	18	2	38,052		Food Lion (12/14/2010)		9.84
Plaza North	Hendersonville	1986	47,240	94.9%	7	2	25,590		Bi-Lo (8/31/2006)	CVS Pharmacy	7.24
Providence Square	Charlotte	1973	84,780	90.9%	18	7	35,702		Harris Teeter (4/30/2006)	Eckerd	8.36
Riverview Shopping Center	Durham	1973 / 1995	132,106	88.3%	9	3	53,538		Kroger (12/31/2014)	Upchurch Drugs, Riverview Furniture	7.13
Salisbury Marketplace	Salisbury	1987	82,578	94.1%	15	2	37,308		Food Lion (2/11/2023)	CVS Pharmacy	9.12
Shelby Plaza	Shelby	1972	103,200	92.2%	7	1				Big Lots, Aaron Rents* (Hancock Fabrics)	3.13
Stanley Market Place	Stanley	1980, 1987	40,400	100.0%	3	0	28,400		Winn-Dixie (2/28/2006)	Family Dollar	5.46
Thomasville Commons	Thomasville	1991	148,754	100.0%	12	0	32,000		Ingles (9/29/2012)	Kmart, CVS Pharmacy	6.02
Willowdale Shopping Center	Durham	1986	120,984	89.3%	20	6	27,985		Harris Teeter (5/14/2004)	Carmike Cinemas, Eckerd* (Family Dollar)	8.70
TOTAL SHOPPING CENTERS NORTH CAROLINA (12)			1,138,070	90.5%	161	35	327,575	0			$7.17
SOUTH CAROLINA (4)
Lancaster Plaza	Lancaster	1971 / 1990	77,400	91.5%	3	1	19,200		Bi-Lo (9/30/2010)		1.44
Lancaster Shopping Center	Lancaster	1963, 1987	29,047	17.2%	1	1					6.00
North Village Center	Durham	1984	60,356	100.0%	14	0	24,806		Bi-Lo (5/31/2004)	Dollar General, Gold’s Gym	8.17
Spring Valley	Columbia	1978 / 1997	75,415	93.6%	15	2	45,070		Bi-Lo (12/31/2017)	Eckerd	9.11
TOTAL SHOPPING CENTERS SOUTH CAROLINA (4)			242,218	85.4%	33	4	89,076	0			$6.13
TENNESSEE (2)
Forrest Gallery	Tullahoma	1987	214,450	97.9%	27	2	48,780		Kroger (1/31/2008)	Wal-Mart* (Tractor Supply, Goodwill)	5.58
Smyrna Village	Smyrna	1992	83,334	87.6%	10	3	59,214		Kroger (2/29/2012)		7.97
TOTAL SHOPPING CENTERS TENNESSEE (2)			297,784	95.0%	37	5	107,994	0			$6.19

Page 17

EQUITY ONE, INC. AND SUBSIDIARIES
PROPERTY STATUS REPORT
as of September 30, 2003

					number
					of tenants		Supermarket anchor
		Year	Total								Average
		built/	square	Percent			owned	shadow	name		base rent
Property	City	renovated	footage	leased	leased	vacant	SF	SF	expiration date	Other anchor tenants	per leased SF
TEXAS (32)
Houston (16)
Barker Cypress	Houston	1999	66,945	97.8%	15	2	41,320		H.E.B. (01/31/2014)		$12.45
Beechcrest	Houston	1981 / 2001	90,797	100.0%	15	0	40,345		Randall’s* (Viet Ho) (6/24/2016)	Walgreens* (Dollar Store)	9.24
Benchmark Crossing	Houston	1986	58,384	100.0%	5	0				Bally’s Fitness	12.13
Bissonnet	Houston	1999	15,542	100.0%	8	0		63,000	Kroger	Blockbuster	14.86
Colony Plaza	Sugarland	1997	26,513	89.4%	13	2					18.53
Copperfield	Houston	1994	134,845	55.3%	28	6				JoAnn Fabrics	12.11
Forestwood	Houston	1993	88,760	98.0%	15	1	59,334		Kroger (7/31/2013)		11.28
Grogan’s Mill	The Woodlands	1986	118,493	98.0%	24	2	56,558		Randall’s* (6/24/2016)	Petco	11.93
Hedwig	Houston	1974	69,504	80.3%	12	1				Ross Dress for Less	14.67
Highland Square	Sugarland	1998	64,171	99.7%	26	1					17.26
Market at First Colony	Sugarland	1988	107,301	97.0%	34	1		62,000	Kroger	TJ Maxx, Eckerd	15.91
Mason Park	Katy	1998	160,047	74.4%	33	6		58,890	Kroger	Walgreens* (Eloise Collectibles), Palais Royal, Petco	11.89
Mission Bend	Houston	1980 / 1999	131,575	93.1%	25	2	46,112		Randall’s (6/24/2016)		8.97
Spring Shadows	Houston	1999	102,272	97.1%	15	2	62,661		H.E.B. (4/30/2023)		9.60
Steeplechase	Jersey Village	1985	105,152	97.3%	24	2	56,208		Randall’s (6/24/2016)		11.48
Wal-Mart Stores, Inc.	Marble Falls	1985	53,571	100.0%	1	0				Wal-Mart* (Sutherland Lumber)	3.27
Dallas (13)
Green Oaks	Arlington	1983	65,091	87.1%	29	5		58,000	Kroger		10.82
Melbourne Plaza	Hurst	1983	47,517	86.3%	14	4					11.35
Minyards	Garland	2000	65,295	100.0%	2	0	58,695		Minyards/Sack N Save (4/30/2020)		6.12
Parkwood	Plano	1985	81,590	94.0%	18	2		62,000	Albertsons	Planet Pizza	13.14
Plymouth Park East	Irving	1970	56,435	97.3%	9	1	42,130		Kroger (11/30/2010)		4.21
Plymouth Park North	Irving	1970	444,541	50.2%	39	19				Blockbuster, Dollar General, Thrift Store, Post Office, Chateau Theatre, Levines	7.31
Plymouth Park South	Irving	1970	49,102	74.8%	3	4				Betcha Bingo	6.44
Plymouth Park West	Irving	1970	178,930	91.7%	13	1				Bargain City	3.52
Richwood	Richardson	1984	54,872	69.7%	19	9		61,877	Albertsons	Blockbuster	13.23
Rosemeade	Carrollton	1986	51,234	67.5%	15	3		58,900	Kroger	Allure Health & Day Spa, Blockbuster	12.85
Sterling Plaza	Irving	1989	65,765	72.6%	15	1				Bank One, Irving City Library	15.75
Townsend Square	Desoto	1990	146,278	84.5%	32	6		60,349	Albertsons	Bealls, Victory Gym, Dollar General	8.89
Village by the Park	Arlngton	1988	44,538	92.4%	9	1				Petco	16.55
San Antonio (3)
Bandera Festival	San Antonio	1989	195,438	51.9%	27	7				Bealls, Eckerd* (Scrapbook Heaven), Blockbuster	10.88
Blanco Village	San Antonio	2000	108,325	100.0%	16	0	74,627		H.E.B. (4/30/2015)		15.68
Wurzbach	San Antonio	1979	59,771	100.0%	3	0	52,957		Albertsons* (12/31/2004)		2.86
TOTAL SHOPPING CENTERS TEXAS (32)			3,108,594	81.3%	556	91	590,947	485,016			$10.42

Page 18

EQUITY ONE, INC. AND SUBSIDIARIES
PROPERTY STATUS REPORT
as of September 30, 2003

					number
					of tenants		Supermarket anchor
		Year	Total								Average
		built/	square	Percent			owned	shadow	name		base rent
Property	City	renovated	footage	leased	leased	vacant	SF	SF	expiration date	Other anchor tenants	per leased SF
VIRGINA (2)
Smyth Valley Crossing	Marion	1989	126,841	100.0%	14	0	32,000		Ingles (9/25/2010)	Wal-Mart	$5.84
Waterlick Plaza	Lynchburg	1973, 1988	98,694	77.9%	19	5	30,780		Kroger (3/18/2008)	CVS Pharmacy	8.70
TOTAL SHOPPING CENTERS VIRGINIA (2)			225,535	90.3%	33	5	62,780	0			$6.92
TOTAL STABILIZED SHOPPING CENTERS (172)			18,919,945	90.1%	3,201	472	5,047,088	697,686			$9.26
DEVELOPMENTS AND REDEVELOPMENTS (8)
Cashmere	Port St. Lucie, FL		4.0 acres
CVS Plaza (f/k/a Coral Way N.E.)	Miami, FL	2003 Dev	4.0 acres
Gulf Gate Plaza	Naples, FL	1969, 1974	201,620	46.0%	14	7				Bealls Outlet, JoAnn Fabrics, Dockside Imp	6.97
Homestead	Homestead, FL	2005 Dev	12.0 acres
Miramar Outparcel	Miramar, FL	Held for sale	2.0 acres
Oakbrook	Palm Beach Gdns, FL	1974 / 2000, 2003 Redev	210,115	65.1%	18	13	44,400		Publix (10/31/2020)	Eckerd, Duffy’s, Stein Mart	12.92
Walden Woods	Plant City, FL	1985 / 1998, 2003 Redev	74,336	64.3%	10	3				Walgreens, Dollar Tree	6.91
Westridge	McDonough, GA	2004 Dev	13.5 acres
TOTAL SHOPPING CENTERS & DEVELOPMENTS (180)			19,406,016	89.2%	3,243	495	5,091,488	697,686			$9.27
OTHER PROPERTIES (2)
4101 South I-85 Industrial	Charlotte, NC	1956, 1963	188,513	73.7%	3	7					2.78
Mandarin Mini-storage	Jacksonville, FL	1982	52,880	98.1%	526	8
GRAND TOTAL (182)			19,647,409	89.1%	3,772	510	5,091,488	697,686

Total square footage does not include shadow anchor square footage which is not owned or controlled by Equity One.

* Indicates a tenant which continues to pay rent, but has closed its store and ceased operations. The subtenant, if any, is shown in ( ).

Page 19

EQUITY ONE, INC. AND SUBSIDIARIES
ANNUAL MINIMUM RENT BY STATE
as of September 30, 2003

State	Count		Total SF		# Leased		# Vacant		Leased %			AMR
Florida		76		8,876,071		1,681		222		92.3	%	$	84,230,258
Texas		32		3,108,594		556		91		81.3	%		26,319,418
Georgia		23		2,939,994		430		73		92.0	%		23,548,049
Louisiana		16		1,926,097		188		47		82.4	%		9,993,861
North Carolina		12		1,138,070		161		35		90.5	%		7,392,488
Arizona		3		346,656		67		9		82.6	%		2,480,680
Tennessee		2		297,784		37		5		95.0	%		1,751,979
Alabama		3		199,690		41		1		98.8	%		1,594,839
Virginia		2		225,535		33		5		90.3	%		1,410,360
South Carolina		4		242,218		33		4		85.4	%		1,268,456
Mississippi		1		66,857		7		0		100.0	%		382,536
Kentucky		1		38,450		9		3		91.0	%		236,591
Total		175		19,406,016		3,243		495		89.2	%	$	160,609,515

Note: Excludes Mandarin mini-storage facility, the industrial property and the five pending developments.

Page 20

EQUITY ONE, INC. AND SUBSIDIARIES
LEASING ACTIVITY
for the three months ended September 30, 2003

Renewals

					Average		Average			Annualized
			Average		Expiring		New			Minimum
# of Leases	Square Feet		Size		Rent psf		Rent psf			Rent
74		143,043		1,933	$	13.47	$	14.16		$	2,024,909
					% Increase psf			5.1	%
					Net Increase (AMR)					$	98,446

New Leases (effective in the third quarter)

					Average		Annualized
			Average		New		Minimum
# of Leases	Square Feet		Size		Rent psf		Rent
112		350,742		3,132	$	10.29	$	3,607,676

Lost Leases

						Average		Annualized
				Average		Expiring		Minimum
# of Leases	Square Feet			Size		Rent psf		Rent
71		242,819			3,420	$	9.25	$	2,245,068
Net Absorption		107,923		New Leases — Lost Leases
						Net Gain/(Loss) of AMR		$	1,461,054
Retention Ratio		37.1	%	Renewals / (Renewals + Lost Leases)

Page 21

EQUITY ONE, INC. AND SUBSIDIARIES
LEASING ACTIVITY
for the nine months ended September 30, 2003

Renewals

					Average		Average			Annualized
			Average		Expiring		New			Minimum
# of Leases	Square Feet		Size		Rent psf		Rent psf			Rent
201		458,530		2,281	$	11.75	$	12.23		$	5,607,949
					% Increase psf			4.1	%
					Net Increase (AMR)					$	219,542

New Leases

					Average		Annualized
			Average		New		Minimum
# of Leases	Square Feet		Size		Rent psf		Rent
247		804,349		3,256	$	10.89	$	8,761,278

Lost Leases

						Average		Annualized
				Average		Expiring		Minimum
# of Leases	Square Feet			Size		Rent psf		Rent
213		886,218			4,161	$	9.06	$	8,033,181
Net Absorption		(81,869	)	New Leases — Lost Leases
						Net Gain/Loss) of AMR		$	947,639
Retention Ratio		34.1	%	Renewals / (Renewals + Lost Leases)

Page 22

EQUITY ONE, INC. AND SUBSIDIARIES
TENANT CONCENTRATION SCHEDULE
as of September 30, 2003

											% of total
		Number				% of total			Annualized		annualized			Average
		of		Square		square			minimum		minimum			minimum
Tenant		stores		feet		feet			rent		rent			rent
Top ten tenants
	Publix		42		1,856,064		9.6	%	$	13,255,590		8.3	%	$	7.14
	Kroger		15		800,614		4.1	%		5,907,532		3.7	%		7.38
	Winn Dixie		17		761,143		3.9	%		4,949,605		3.1	%		6.50
	Wal-Mart		11		834,994		4.3	%		3,687,045		2.3	%		4.42
	Kmart		7		611,416		3.2	%		3,254,442		2.0	%		5.32
	Blockbuster		27		159,480		0.8	%		2,376,721		1.5	%		14.90
	Eckerd		27		261,671		1.3	%		2,338,094		1.5	%		8.94
	Food Lion/Kash n’ Karry		8		297,802		1.5	%		1,948,574		1.2	%		6.54
	Bed Bath & Beyond		6		202,658		1.0	%		1,930,031		1.2	%		9.52
	H.E. Butt Grocery		3		178,608		0.9	%		1,793,855		1.1	%		10.04
Sub-total top ten tenants			163		5,964,450		30.7	%	$	41,441,489		25.8	%	$	6.95
	Remaining tenants		3,080		11,353,015		58.5	%		119,168,026		74.2	%		10.50
Sub-total all tenants			3,243		17,317,465		89.2	%	$	160,609,515		100.0	%	$	9.27
	Vacant		495		2,088,551		10.8	%	NA
Total including vacant			3,738		19,406,016		100.0	%	$	160,609,515		100.0	%	$	8.28

Note: Excludes Mandarin mini-storage facility, the industrial property and the five pending developments.

Page 23

EQUITY ONE, INC. AND SUBSIDIARIES
EXPIRING SQUARE FOOTAGE BY TENANT TYPE
as of September 30, 2003

Note: Excludes Mandarin mini-storage facility, the industrial property and the five pending developments.

Page 24

EQUITY ONE, INC. AND SUBSIDIARIES
SHOPPING CENTER LEASE EXPIRATION SCHEDULE
as of September 30, 2003

ALL TENANTS

														Percent			Average
									Percent					of			annual
									of			Annualized		total			minimum
					Number				total			minimum		annualized			rent per
					of		Square		square			rent at		minimum			square
Date					tenants		feet		feet			expiration		rent			foot
			M-T-M			101		234,795		1.2	%	$	2,148,448		1.3	%	$	9.15
				2003		192		493,668		2.5	%		5,219,325		3.1	%		10.57
				2004		677		1,802,904		9.3	%		20,188,046		12.1	%		11.20
				2005		673		1,882,472		9.7	%		21,810,839		13.1	%		11.59
				2006		587		1,941,768		10.0	%		22,634,361		13.6	%		11.66
				2007		376		1,787,344		9.2	%		18,875,077		11.4	%		10.56
				2008		301		1,442,601		7.4	%		15,585,970		9.4	%		10.80
				2009		61		1,044,419		5.4	%		7,305,524		4.4	%		6.99
				2010		55		595,555		3.1	%		5,603,577		3.4	%		9.41
				2011		41		995,273		5.1	%		7,159,339		4.3	%		7.19
				2012		34		840,813		4.3	%		6,641,706		4.0	%		7.90
		Thereafter				145		4,255,853		21.9	%		33,102,949		19.9	%		7.78
	Sub-total / average					3,243		17,317,465		89.2	%	$	166,275,161		100.0	%	$	9.60
			Vacant			495		2,088,551		10.8	%	NA		NA			NA
Total / average						3,738		19,406,016		100.0	%	$	166,275,161		100.0	%	$	8.57

Note: Excludes Mandarin mini-storage facility, the industrial property and the five pending developments.

Page 25

EQUITY ONE, INC. AND SUBSIDIARIES
SHOPPING CENTER LEASE EXPIRATION SCHEDULE
as of September 30, 2003

ANCHOR TENANTS (SF => 10,000)

														Percent			Average
									Percent					of			annual
									of			Annualized		total			minimum
					Number				total			minimum		annualized			rent per
					of		Square		square			rent at		minimum			square
Date					tenants		feet		feet			expiration		rent			foot
				M-T-M		3		66,884		0.6	%	$	101,400		0.1	%	$	1.52
				2003		5		118,824		1.0	%		823,826		1.2	%		6.93
				2004		23		537,786		4.5	%		3,026,353		4.2	%		5.63
				2005		25		506,953		4.2	%		2,569,957		3.6	%		5.07
				2006		30		721,681		6.0	%		4,498,458		6.3	%		6.23
				2007		36		953,679		8.0	%		6,018,591		8.4	%		6.31
				2008		30		753,290		6.3	%		4,866,168		6.8	%		6.46
				2009		21		904,027		7.5	%		5,120,777		7.1	%		5.66
				2010		19		497,971		4.2	%		3,709,624		5.2	%		7.45
				2011		21		934,311		7.8	%		5,694,087		7.9	%		6.09
				2012		18		772,736		6.5	%		5,217,674		7.3	%		6.75
		Thereafter				89		4,085,073		34.1	%		29,987,114		41.9	%		7.34
Sub-total / average						320		10,853,215		90.6	%	$	71,634,029		100.0	%	$	6.60
			Vacant			38		1,122,393		9.4	%	NA		NA			NA
	Total / average					358		11,975,608		100.0	%	$	71,634,029		100.0	%	$	5.98

Note: Excludes Mandarin mini-storage facility, the industrial property and the five pending developments.

Page 26

EQUITY ONE, INC. AND SUBSIDIARIES
SHOPPING CENTER LEASE EXPIRATION SCHEDULE
as of September 30, 2003

LOCAL TENANTS (SF < 10,000)

														Percent			Average
									Percent					of			annual
									of			Annualized		total			minimum
					Number				total			minimum		annualized			rent per
					of		Square		square			rent at		minimum			square
Date					tenants		feet		feet			expiration		rent			foot
				M-T-M		98		167,911		2.3	%	$	2,047,048		2.2	%	$	12.19
				2003		187		374,844		5.0	%		4,395,499		4.6	%		11.73
				2004		654		1,265,118		17.0	%		17,161,693		18.1	%		13.57
				2005		648		1,375,519		18.5	%		19,240,882		20.3	%		13.99
				2006		557		1,220,087		16.4	%		18,135,903		19.2	%		14.86
				2007		340		833,665		11.2	%		12,856,486		13.6	%		15.42
				2008		271		689,311		9.3	%		10,719,802		11.3	%		15.55
				2009		40		140,392		1.9	%		2,184,747		2.3	%		15.56
				2010		36		97,584		1.3	%		1,893,953		2.0	%		19.41
				2011		20		60,962		0.8	%		1,465,252		1.5	%		24.04
				2012		16		68,077		0.9	%		1,424,032		1.5	%		20.92
		Thereafter				56		170,780		2.3	%		3,115,835		3.3	%		18.24
Sub-total / average						2,923		6,464,250		87.0	%	$	94,641,132		100.0	%	$	14.64
			Vacant			457		966,158		13.0	%	NA		NA			NA
	Total / average					3,380		7,430,408		100.0	%	$	94,641,132		100.0	%	$	12.74

Note: Excludes Mandarin mini-storage facility, the industrial property and the five pending developments.

Page 27

EQUITY ONE, INC. AND SUBSIDIARIES
REAL ESTATE DEVELOPMENTS AND REDEVELOPMENTS
as of September 30, 2003
(in thousands, except square footage data)

1)	CVS Plaza f/k/a Coral Way N.E.; Miami, Florida
	We have commenced construction of a 25,000 square foot drug-store anchored shopping center at an estimated cost of $3,956 with a target completion in the first quarter of 2004. This development is located at the northeast corner of S.W. 147th Avenue and Coral Way across the street from Plaza Alegre, and is reflected as a development property.
2)	Crossroads Square f/k/a University Mall; Pembroke Pines, Florida
	We have executed a ground lease with Lowe’s to accommodate their construction of a 177,000 square foot home improvement store on this property. Lowe’s will pay all the development and construction costs related to their store and the associated site area and parking. Redevelopment is currently underway to reconfigure the remainder of the property and add a 13,000 square foot drug store at an estimated cost of $5,500. The current configuration of the property is listed on the Property Status Report.
3)	Oakbrook Square; Palm Beach Gardens, Florida
	This property is a 225,000 square foot shopping center anchored by Publix. Jacobson’s closed their 90,000 square foot store in October 2002. Stein Mart has executed a lease to occupy 41,000 square feet of this space and opened in the second quarter of 2003, 29,000 square feet has been leased to Homegoods and is expected to open in the second quarter of 2004 and the balance is out for leasing. Redevelopment is currently underway to reconfigure a portion of the retail space, add additional parking and develop a 6,000 square foot outparcel, all at an estimated total cost of $4,060. The reconfigured property is listed on the Property Status Report as a development property.
4)	Salerno Village; Stuart, Florida
	We are redeveloping this supermarket-anchored shopping center which we purchased in May 2002. Winn Dixie, the existing supermarket, has executed a new 20-year lease for 45,802 square feet, an increase from their current 31,503 square foot store. The redevelopment will cost approximately $4,936, and is expected to be completed in the second quarter of 2004. The current configuration (pre-redevelopment) of the property is listed on the Property Status Report.
5)	Homestead; Homestead, Florida
	We own a 12 acre site adjacent to a master planned community in Homestead, Florida, approximately 25 miles south of Miami. We expect to develop a supermarket-anchored shopping center on this site in 2005, but have not yet finalized the development plan or the associated budget. The land parcel is reflected as a development property.
6)	Shops at Skylake (Phase III); North Miami Beach, Florida
	We plan to complete the final phase of Skylake totaling approximately 120,000 square feet in the second quarter of 2004 at an additional cost of approximately $7,500. To date, we have executed a lease with LA Fitness Sports Clubs for a 45,000 square foot health club and 30,000 square feet is out for local tenant leasing. The L.A. Fitness space is under construction, with completion targeted for the first quarter of 2004. The current configuration of the property is listed on the Property Status Report.
7)	Westridge; McDonough, Georgia
	We own a 13.5 acre site adjacent to a master planned community in Henry County, Georgia. We expect to develop a supermarket anchored center on this site in late 2004, but have not yet finalized the development plan or the associated budget. The land parcel is reflected as a development property.
8)	Walden Woods; Plant City, Florida
	We have reconfigured approximately 46,500 squre feet of this property to accomodate a 20,000 square foot Dollar Store, that opened in the third quarter of 2003, a 13,000 square foot Aaron Rents, that is expected to open in the fourth quarter of 2003, and 13,500 square feet of local space at an estimated cost of $844. The reconfigured property is listed on the Property Status Report as a development property.
9)	Gulf Gate; Naples, Florida
	We are in the process of completely renovating this center and releasing 36,000 squre feet to accomodate Big Lots at an estimated cost of $1,017. The center is listed on the Property Status Report as a development property.
10)	Ambassador Row Courtyard; Lafayette, Louisiana
	We intend to redevelop a portion of this property in the fourth quarter of 2003 at a cost of approximately $1,201. The current configuration is reflected on the Property Status Report.
11)	Cashmere; Port St. Lucie, Florida
	This is a four acre site adjacent to our Cashmere Corners retail center. We expect to develop 20,000 square feet of retail space. We have not finalized the development plan or associated budget. The land parcel is reflected as a development property.

Active Development and Redevelopment Cost Summary
as of September 30, 2003

	Construction Costs
	Estimated		Funded as of		Balance to
Property	Cost		September 30, 2003		Complete
CVS Plaza	$	3,956	$	2,346	$	1,610
Crossroads Square		5,500		4,536		964
Oakbrook Square		4,060		2,962		1,098
Salerno Village		4,936		1,059		3,877
Shops at Skylake Phase III		7,500		3,455		4,045
Walden Woods		844		798		46
Gulf Gate		1,017		29		988
Ambassador Row Courtyard		1,201		7		1,194
Total	$	29,014	$	15,192	$	13,822

Page 28

EQUITY ONE, INC. AND SUBSIDIARIES
REAL ESTATE ACQUISITIONS AND DISPOSITIONS
as of September 30, 2003
(in thousands, except square footage data)

Acquisition Activity (excluding the IRT merger)

					Square Feet/		Purchase
Date Purchased		Property Name	City	State	Acres		Price
Feb-03		Westridge - land	McDonough	GA		13.5 acres	$	1,688
May-03		Spring Shadow - HEB Supermarket	Houston	TX		62,661		3,500
Jul-03		Sheridan Plaza Shopping Center	Hollywood	FL		451,294		75,325
Jul-03		Butler Creek Shopping Center	Acworth	GA		95,597		12,100
Jul-03		Bandera Out-parcel	San Antonio	TX		6,000		533
Aug-03		Presidential Markets	Atlanta	GA		396,408		47,238
Sep-03		Hunters Creek Plaza	Orlando	FL		68,032		7,446
	Total						$	147,830

Disposition Activity

					Square Feet/		Sales
Date Sold		Property Name	City	State	Acres		Price		Gain on Sale
Mar-03		Eckerd Melbourne	Melbourne	FL		10,908	$	2,715	$	177
Mar-03		Eckerd Leesburg	Leesburg	FL		12,739		4,050		326
Apr-03		Pompano Lowe's	Pompano	FL		80,697		3,400		470
May-03		Shops at Huntcrest (2 out-parcels)	Lawrenceville	GA		2.9 acres		1,686		—
Jun-03		Oak Square Joint Venture interest	Gainsville	FL		N/A		2,230		901
Sep-03		Park Place Joint Venture Interest	Plano	TX		N/A		4,434		1,209
	Total						$	18,515	$	3,083

Page 29

EQUITY ONE, INC. AND SUBSIDIARIES
JOINT VENTURE INVESTMENTS
as of September 30, 2003
(in thousands, except square footage data)

Owned joint ventures *

1)	City Centre
2)	City Centre Parcel F
	Palm Beach Gardens, Florida
	City Centre is a 93,565 square foot office/retail center that was 84% leased as of September 30, 2003. The property is encumbered by an 8.54% fixed-rate mortgage loan with a balance of $12,903 as of September 30, 2003, which matures in April 2010. This property includes a parcel of land slated for future office development which is held in a separate joint venture. Equity One owns a 50% interest in both joint ventures.
*	Equity One accounts for these two joint venture interests using the equity method as we do not consider ourselves to be in control of the major business decisions.

Sold joint ventures

1)	Park Place
	Plano, Texas
	On September 30, 2003, the joint venture completed the sale of this property. Our pro rata share of the gain from the sale was $1,209. Equity One received a final distribution from the partnership of $6,440.
2)	Oak Square
	Gainesville, Florida
	On June 30, 2003, Equity One sold its 50% interest in this joint venture, received net proceeds of $2,230 and recorded a gain of $901 on the disposition.

Page 30

EQUITY ONE, INC. AND SUBSIDIARIES
STOCK PRICE AND VOLUME STATISTICS
for the three months ended September 30, 2003

*Data obtained from Yahoo Chart Services

Page 31