Exhibit 99.2

Equity One, Inc.
Supplemental Information Package

June 30, 2005

Equity One, Inc.
1600 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

June 30, 2005

(unaudited)

TABLE OF CONTENTS

	Page
DISCLOSURES		3
FINANCIAL HIGHLIGHTS — OPERATING RATIOS		4
FINANCIAL HIGHLIGHTS — DEBT RATIOS — QUARTERLY BREAKOUT		5
EARNINGS BEFORE INTEREST, TAXES, DEPRECIATION and AMORTIZATION (EBITDA)		6
NET OPERATING INCOME		7
MARKET CAPITALIZATION — QUARTERLY BREAKOUT		8
CONSOLIDATED STATEMENTS OF OPERATIONS		9
CONSOLIDATED STATEMENTS OF OPERATIONS — QUARTERLY BREAKOUT		10
PRO FORMA FINANCIAL INFORMATION FOR DISCONTINUED OPERATIONS		11
CONSOLIDATED STATEMENTS OF FUNDS FROM OPERATIONS		13
CONSOLIDATED STATEMENTS OF FUNDS FROM OPERATIONS — QUARTERLY BREAKOUT		14
CONSOLIDATED STATEMENTS OF FUNDS AVAILABLE FOR DISTRIBUTION		15
CONSOLIDATED STATEMENTS OF FUNDS AVAILABLE FOR DISTRIBUTION — QUARTERLY BREAKOUT		16
CONSOLIDATED BALANCE SHEETS		17
DEBT SUMMARY		18
DEBT MATURITIES		22
PROPERTY STATUS REPORT		23
ANNUAL MINIMUM RENT BY STATE		32
LEASING ACTIVITY AND OCCUPANCY STATISTICS		33
TENANT CONCENTRATION SCHEDULES		35
SHOPPING CENTER LEASE EXPIRATION SCHEDULES		37
REAL ESTATE DEVELOPMENTS AND REDEVELOPMENTS		41
REAL ESTATE ACQUISITIONS AND DISPOSITIONS		42
ANALYST COVERAGE		43

EQUITY ONE, INC. AND SUBSIDIARIES
DISCLOSURES
As of June 30, 2005

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, Massachusetts 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 space; 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

The information contained in the Supplemental Information Package does not purport to disclose all items required by GAAP. The Company ‘s Form 10-K for the year ended December 31, 2004 and Form 10-Q for the period ended June 30, 2005 should be read in conjunction with the above information. The results of operations of any property acquired are included in our financial statements since the date of its acquisition.

Use of EBITDA as a Non-GAAP Financial Measure

EBITDA is a widely used performance measure and is provided as a supplemental measure of operating performance. We compute EBITDA as the sum of net income before extraordinary items, depreciation and amortization, income taxes, interest expense, gain (loss) on disposal of income producing properties, and impariment of real estate. Given the nature of the Company’s business as a real estate owner and operator, the Company believes that the use of EBITDA as opposed to earnings in various financial ratios is helpful to investors as a measure of our operational performance because EBITDA excludes various items included in earnings that do not relate to or are not indicative of our operating performance, such as gains and losses on sales of real estate and real estate related depreciation and amortization, and includes the results of operations of real estate properties that were sold or classified as real estate held for sale either during or subsequent to the end of a particular reporting period, which are included in earnings on a net basis. Accordingly, we believe that the use of EBITDA as opposed to earnings in various ratios provides a meaningful performance measure as it relates to our ability to meet various coverage tests for the stated periods.

EBITDA should not be considered as an alternative to earnings as an indicator of our financial performance, or as an alternative to cash flow from operating activities as a measure of our liquidity. Our computation of EBITDA may differ from the methodology utilized by other companies to calculate EBITDA. Investors are cautioned that items excluded from EBITDA are significant components in understanding and assessing the Company’s financial performance.

Use of Funds from Operations as a Non-GAAP Financial Measure

We believe Funds from Operations (FFO) (combined with the primary GAAP presentations) is a useful supplemental measure of our operating performance that is a recognized metric used extensively by the real estate industry, particularly REITs. NAREIT stated in its April 2002 White Paper on FFO, “Historical cost accounting for real estate assets implicity assumes that the value of real estate assets diminishes predictably over time.Since real estate values have historically risen or fallen with market conditions many industry investors have considered presentations of operating results for real estate companies that use historical cost accounting to be insufficient by themselves.” FFO, as defined by NAREIT, is “net income (computed in accordance with GAAP), excluding (gains or losses) from sales of property, plus depreciation and amortization, and after adjustments for unconsolidated partnerships and joint ventures. Adjustments for unconsolidated partnerships and joint ventures will be calculated to reflect funds from operations on the same basis.”

We believe that financial analysts, investors and stockholders are better served by the presentation of comparable period operating results generated from our FFO measure. Our method of calculating FFO may be different from methods used by other REITs and accordingly, may not be comparable to such other REITs. FFO is presented to assist investors in analyzing our operating performance. FFO (i) does not represent cash flow from operations as defined by GAAP, (ii) is not indicative of cash available to fund all cash flow needs, including the ability to make distributions, (iii) is not an alternative to cashflow as measure of liquidity, and (iv) should not be considered as an alternative to net income (which is determined in accordance with GAAP) for purposes of evaluating our operating performance. We believe net income is the most directly comparable GAAP measure to FFO.

Page 3

EQUITY ONE, INC. AND SUBSIDIARIES
FINANCIAL HIGHLIGHTS — OPERATING RATIOS
As of June 30, 2005
(in thousands, except per share data)

													For the
	For the three months ended						For the six months ended						year ended
	Jun 30, 2005			Jun 30, 2004			Jun 30, 2005			Jun 30, 2004			Dec 31, 2004
Selected Operating Items:
Total rental revenue*	$	64,890		$	59,430		$	127,567		$	114,814		$	239,087
Property operating expenses*		16,039			15,246			31,902			29,758			63,395
General & administrative expenses (G&A)*		4,370			3,809			8,710			7,261			16,601
Net income	$	25,143		$	18,535		$	46,933		$	37,222		$	76,628
Net income per diluted share		0.34			0.26			0.63			0.55			1.37
Income from continuing operations	$	12,960		$	9,223		$	25,866		$	19,639		$	43,048
Income from continuing operations per diluted share		0.18			0.13			0.35			0.28			0.61
Funds from operations (FFO)	$	32,351		$	28,347		$	62,999		$	55,246		$	113,471
FFO per diluted share		0.43			0.40			0.85			0.78			1.58
Funds available for distribution (FAD)	$	24,200		$	23,011		$	48,335		$	45,864		$	92,613
FAD per diluted share		0.32			0.32			0.65			0.64			1.29
Total dividends paid per share	$	0.29		$	0.28		$	0.58		$	0.56		$	1.13
Operating Ratios:
Net operating income margin (see page 7)*		75.3	%		74.3	%		75.0	%		74.1	%		73.5	%
Expense recovery ratio (expense recoveries/operating expenses)*		85.9	%		77.7	%		83.9	%		79.2	%		79.2	%
EBITDA margin (see page 6)*		69.2	%		68.0	%		68.7	%		67.9	%		66.3	%
EBITDA to interest coverage ratio*		3.5			3.4			3.5			3.5			3.4
G&A as % of total revenues*		6.6	%		6.4	%		6.7	%		6.3	%		6.9	%
G&A as % of total assets (annualized)		0.87	%		0.81	%		0.86	%		0.77	%		0.83	%
Dividend / FFO payout ratio		67.4	%		70.0	%		68.2	%		71.8	%		71.5	%
FFO multiple (annualized if < 12 months)		13.2			11.3			13.4			11.6			15.0
Dividend / FAD payout ratio		90.6	%		87.5	%		89.2	%		87.5	%		87.6	%
FAD multiple (annualized if < 12 months)		17.7			14.1			17.5			14.1			18.4

* The indicated line item includes amounts reported in discontinued operations (except for any gain/(loss) on the disposal of income producing property).

Page 4

EQUITY ONE, INC. AND SUBSIDIARIES
FINANCIAL HIGHLIGHTS — DEBT RATIOS — QUARTERLY BREAKOUT
As of June 30, 2005
(in thousands, except per share data)

	As of
	Jun 30, 2005			Mar 31, 2005			Dec 31, 2004			Sep 30, 2005			Jun 30, 2004			Mar 31, 2004
Fixed rate debt	$	701,513		$	733,982		$	742,317		$	730,739		$	747,741		$	720,263
Fixed rate debt — swapped to variable rate		100,000			100,000			100,000			100,000			100,000			100,000
Variable rate debt — swapped to fixed rate		—			—			—			—			20,000			20,000
Variable rate debt — unhedged		184,161			144,763			147,000			64,000			71,616			30,879
Total debt*	$	985,674		$	978,745		$	989,317		$	894,739		$	939,357		$	871,142
% Fixed rate debt		71.17	%		74.99	%		75.03	%		81.67	%		79.60	%		82.68	%
% Fixed rate debt — swapped to variable rate		10.15	%		10.22	%		10.11	%		11.18	%		10.65	%		11.48	%
% Variable rate debt — swapped to fixed rate		—			—			—			—			2.13	%		2.30	%
% Variable rate debt — unhedged		18.68	%		14.79	%		14.86	%		7.15	%		7.62	%		3.54	%
Total		100.00	%		100.00	%		100.00	%		100.00	%		100.00	%		100.00	%
% Variable rate debt — total		28.83	%		25.01	%		24.97	%		18.33	%		18.27	%		15.02	%
Secured mortgage debt	$	454,203		$	488,817		$	495,056		$	480,739		$	497,741		$	470,263
Unsecured debt		531,471			489,928			494,261			414,000			441,616			400,879
Total debt*	$	985,674		$	978,745		$	989,317		$	894,739		$	939,357		$	871,142
% Secured mortgage debt		46.08	%		49.94	%		50.04	%		53.73	%		52.99	%		53.98	%
% Unsecured debt		53.92	%		50.06	%		49.96	%		46.27	%		47.01	%		46.02	%
Total		100.00	%		100.00	%		100.00	%		100.00	%		100.00	%		100.00	%
Total market capitalization (from page 8)	$	2,690,123		$	2,515,416		$	2,746,539		$	2,321,138		$	2,235,352		$	2,242,810
% Secured mortgage debt		16.88	%		19.43	%		18.02	%		20.71	%		22.27	%		20.97	%
% Unsecured debt		19.76	%		19.48	%		18.00	%		17.84	%		19.76	%		17.87	%
Total debt : Total market capitalization		36.64	%		38.91	%		36.02	%		38.55	%		42.02	%		38.84	%
Weighted-average interest rate on secured mortgage debt		7.24	%		7.26	%		7.26	%		7.22	%		7.25	%		7.40	%
Weighted-average interest rate on senior unsecured notes**		5.08	%		5.10	%		5.12	%		5.14	%		5.16	%		5.18	%
Weighted-average interest rate on revolving credit facilities		3.69	%		3.19	%		2.80	%		2.13	%		2.05	%		2.15	%
Weighted-average maturity on mortgage debt	5.8 years			5.6 years			5.8 years			5.9 years			6.1 years			6.4 years
Weighted-average maturity on senior unsecured notes	3.3 years			3.5 years			3.7 years			3.9 years			4.2 years			4.5 years

*	excluding unamortized premium/discount
**	excluding the effect of interest rate swaps

Page 5

EQUITY ONE, INC. AND SUBSIDIARIES
EARNINGS BEFORE INTEREST, TAXES, DEPRECIATION and AMORTIZATION (EBITDA)
For the quarter ended June 30, 2005
(in thousands, except per share data)

													For the
	For the three months ended						For the six months ended						year ended
	Jun 30, 2005			Jun 30, 2004			Jun 30, 2005			Jun 30, 2004			Dec 31, 2004
Net income	$	25,143		$	18,535		$	46,933		$	38,774		$	97,804
Minority interest*		46			188			96			403			689
Interest expense*		13,084			11,902			25,281			22,476			47,129
(Gain)/loss on disposal of income producing property		(3,757	)		483			(5,372	)		(1,552	)		(22,176	)
Amortization of deferred financing fees*		370			404			749			670			1,459
Rental property depreciation and amortization*		10,938			9,089			21,384			17,521			37,023
EBITDA*	$	45,824		$	40,601		$	89,071		$	78,292		$	161,928
Interest expense*	$	13,084		$	11,902		$	25,281		$	22,476		$	47,129
EBITDA : interest coverage ratio*		3.5			3.4			3.5			3.5			3.4
Revenue
Total rental revenue*	$	64,890		$	59,430		$	127,567		$	114,814		$	239,087
Investment income		1,215			194			1,924			402			2,346
Other income		128			59			192			123			537
Total revenue*	$	66,233		$	59,683		$	129,683		$	115,339		$	241,970
EBITDA margin (EBITDA/total revenue)*		69.2	%		68.0	%		68.7	%		67.9	%		66.9	%
Total market capitalization (see page 8)	$	2,690,123		$	2,235,352		$	2,690,123		$	2,235,352		$	2,746,539
Total market capitalization to EBITDA multiple*		14.7			13.8			15.1			14.3			17.0

* The indicated line item includes amounts reported in discontinued operations (except for any gain/(loss) on the disposal of income producing property).

Page 6

EQUITY ONE, INC. AND SUBSIDIARIES
NET OPERATING INCOME
For the quarter ended June 30, 2005
(in thousands, except per share data)

	For the three months ended						Percent			For the six months ended						Percent
	Jun 30, 2005			Jun 30, 2004			Change			Jun 30, 2005			Jun 30, 2004			Change
Net operating income (1)
Total rental revenue		64,890			59,430			9.2	%		127,567			114,814			11.1	%
Property operating expenses (2)		16,039			15,246			5.2	%		31,902			29,758			7.2	%
Net operating income		48,851			44,184			10.6	%		95,665			85,056			12.5	%
NOI margin (NOI/total rental revenue)		75.3	%		74.3	%					75.0	%		74.1	%
Net operating income (NOI) from continuing operations
Total rental revenue	$	47,972		$	40,763			17.7	%	$	94,310		$	80,084			17.8	%
Property operating expenses (2)		12,041			10,788			11.6	%		23,366			21,139			10.5	%
Net operating income	$	35,931		$	29,975			19.9	%	$	70,944		$	58,945			20.4	%
NOI margin (NOI/total rental revenue)		74.9	%		73.5	%					75.2	%		73.6	%
Same property NOI (3)
Total rental revenue	$	57,814		$	53,224			8.6	%	$	106,031		$	99,233			6.9	%
Property operating expenses		16,435			15,804			4.0	%		30,243			28,946			4.5	%
Net operating income	$	41,379		$	37,420			10.6	%	$	75,788		$	70,287			7.8	%
Growth in same property NOI		10.6	%								7.8	%
Growth in same property NOI, excluding termination fees		4.4	%								4.0	%
Number of properties included in analysis		162									155
Same property occupancy		93.6	%		94.3	%					93.5	%		94.3	%

(1)	Amounts included in discontinued operations have been included for purposes of this presentation of net operating income.
(2)	Net of intercompany expenses.
(3)	Excludes the effects of straight line rent, and prior year expense recoveries and adjustments, if any.

Page 7

EQUITY ONE, INC. AND SUBSIDIARIES
MARKET CAPITALIZATION — QUARTERLY BREAKOUT
As of June 30, 2005
(in thousands, except per share data)

	As of
	Jun 30, 2005			Mar 31, 2005			Dec 31, 2004			Sep 30, 2004			Jun 30, 2004			Mar 31, 2004
Closing market price of common stock	$	22.70		$	20.59		$	23.73		$	19.62		$	18.08		$	19.22
Dividend yield (based on current annualized dividend)		5.11	%		5.63	%		4.89	%		5.71	%		6.19	%		5.83	%
Dividends paid per share	$	0.29		$	0.29		$	0.29		$	0.28		$	0.28		$	0.28
Net book value per share (fully diluted, end of period)	$	12.73		$	12.64		$	12.54		$	12.35		$	11.86		$	11.87
Liquidity
Cash and cash equivalents	$	—		$	—		$	5,122		$	10,722		$	5,814		$	1,901
Revolving credit facilities
Gross potential available under current credit facilities		345,000			345,000			345,000			345,000			345,000			345,000
less: Outstanding balance		(179,387	)		(144,763	)		(147,000	)		(64,000	)		(80,541	)		(50,879	)
Holdback for letters of credit		(1,283	)		(1,289	)		(1,339	)		(1,378	)		(1,456	)		(1,378	)
Net potential available under credit facilities	$	164,330		$	198,948		$	196,661		$	279,622		$	263,003		$	292,743
Equity market capitalization (end of period)
Common stock shares (in thousands)
Basic common shares		74,029.497			73,561.218			72,904.922			72,069.799			70,241.851			69,580.460
Diluted common shares
Unvested restricted common shares		582.787			576.122			692.699			700.632			513.131			524.799
Walden Woods shares		93.656			93.656			93.656			93.656			93.656			93.656
IRT Partners operating partnership units		—			—			—			—			734.266			734.266
Common stock options (treasury method, closing price)		379.914			400.907			575.229			383.661			419.820			532.424
Fully diluted common shares		75,085.854			74,631.903			74,266.506			73,247.748			72,002.724			71,465.605
Total debt (excluding unamortized premium/discount)	$	985,674		$	978,745		$	989,317		$	894,739		$	939,357		$	871,142
Cash and cash equivalents		—			—			(5,122	)		(10,722	)		(5,814	)		(1,901	)
Net debt		985,674			978,745			984,195			884,017			933,543			869,241
Equity market capitalization (fully diluted, end of period)		1,704,449			1,536,671			1,762,344			1,437,121			1,301,809			1,373,569
Total market capitalization	$	2,690,123		$	2,515,416		$	2,746,539		$	2,321,138		$	2,235,352		$	2,242,810
Net debt to total market capitalization		36.6	%		38.9	%		35.8	%		38.1	%		41.8	%		38.8	%
Gross real estate and securities investments	$	2,044,861		$	2,016,111		$	2,006,266		$	1,865,041		$	1,885,082		$	1,795,632
Net debt to gross real estate and securities investments		48.2	%		48.5	%		49.1	%		47.4	%		49.5	%		48.4	%

Page 8

EQUITY ONE, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
For the quarter ended June 30, 2005
(in thousands, except per share data)

	For the three months ended						Percent			For the six months ended						Percent
	Jun 30, 2005			Jun 30, 2004			Change			Jun 30, 2005			Jun 30, 2004			Change
Rental revenue:
Minimum rents	$	36,102		$	32,225					$	71,917		$	61,974
Expense recoveries		9,950			7,996						19,356			16,366
Termination fees		1,598			292						1,727			361
Percentage rent		322			250						1,310			1,383
Total rental revenue		47,972			40,763			17.7	%		94,310			80,084			17.8	%
Costs and expenses:
Property operating expenses		12,041			10,788						23,366			21,139
Rental property depreciation and amortization		7,776			6,377						15,332			12,245
General and administrative expenses		4,365			3,806						8,701			7,255
Total costs and expenses		24,182			20,971			15.3	%		47,399			40,639			16.6	%
Income before other income and expenses, minority interest and discontinued operations		23,790			19,792						46,911			39,445
Other income and expenses:
Interest expense		(11,772	)		(10,278	)					(22,345	)		(19,355	)
Amortization of deferred financing fees		(355	)		(367	)					(720	)		(597	)
Investment income		1,215			194						1,924			402
Other income		128			59						192			123
Income before minority interest and discontinued operations		13,006			9,400						25,962			20,018
Minority interest		(46	)		(177	)					(96	)		(379	)
Income from continuing operations		12,960			9,223			40.5	%		25,866			19,639			31.7	%
Discontinued operations:
Income from rental properties sold or held for sale		8,426			9,806						15,695			17,607
Gain (loss) on disposal of income producing properties		3,757			(483	)					5,372			1,552
Minority interest		—			(11	)					—			(24	)
Income from discontinued operations		12,183			9,312						21,067			19,135
Net income	$	25,143		$	18,535			35.7	%	$	46,933		$	38,774			21.0	%
Basic earnings per share
Income from continuing operations	$	0.18		$	0.13			38.5	%	$	0.35		$	0.28			25.0	%
Income from discontinued operations		0.16			0.14						0.29			0.28
Net income	$	0.34		$	0.27			25.9	%	$	0.64		$	0.56			14.3	%
Diluted earnings per share
Income from continuing operations	$	0.18		$	0.13			38.5	%	$	0.35		$	0.28			25.0	%
Income from discontinued operations		0.16			0.13						0.28			0.27
Net income	$	0.34		$	0.26			30.8	%	$	0.63		$	0.55			14.5	%
Weighted average shares outstanding
Basic		73,636			69,711						73,341			69,413
Diluted		74,656			71,419						74,377			71,211

Page 9

EQUITY ONE, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS — QUARTERLY BREAKOUT
For the quarter ended June 30, 2005
(in thousands, except per share data)

	For the three months ended
	Jun 30, 2005			Mar 31, 2005			Dec 31, 2004			Sep 30, 2004			Jun 30, 2004			Mar 31, 2004
Rental revenue:
Minimum rents	$	36,102		$	35,815		$	35,340		$	32,593		$	32,225		$	29,776
Expense recoveries		9,950			9,406			9,540			9,294			7,996			8,371
Termination fees		1,598			129			2,896			136			289			46
Percentage rent		322			988			40			240			250			1,133
Total rental revenue		47,972			46,338			47,816			42,263			40,760			39,326
Costs and expenses:
Property operating expenses		12,041			11,325			12,144			11,490			10,788			10,351
Rental property depreciation and amortization		7,776			7,556			7,450			6,539			6,377			5,868
General and administrative expenses		4,365			4,336			5,612			3,718			3,806			3,450
Total costs and expenses		24,182			23,217			25,206			21,747			20,971			19,669
Income before other income and expenses, minority interest and discontinued operations		23,790			23,121			22,610			20,516			19,789			19,657
Other income and expenses:
Interest expense		(11,772	)		(10,573	)		(10,616	)		(10,524	)		(10,278	)		(9,078	)
Amortization of deferred financing fees		(355	)		(365	)		(369	)		(370	)		(367	)		(230	)
Investment income		1,215			709			734			1,210			194			208
Other income		128			64			241			174			59			64
Income before minority interest and discontinued operations		13,006			12,956			12,600			11,006			9,397			10,621
Minority interest		(46	)		(50	)		(47	)		(150	)		(177	)		(202	)
Income from continuing operations		12,960			12,906			12,553			10,856			9,220			10,419
Discontinued operations:
Income from rental properties sold or held for sale		8,426			7,269			7,368			7,719			9,809			7,798
Gain (loss) on disposal of income producing properties		3,757			1,615			8,409			12,215			(483	)		2,035
Minority interest		—			—			—			(89	)		(11	)		(13	)
Income from discontinued operations		12,183			8,884			15,777			19,845			9,315			9,820
Net income	$	25,143		$	21,790		$	28,330		$	30,701		$	18,535		$	20,239
Basic earnings per share
Income from continuing operations	$	0.18		$	0.17		$	0.17		$	0.15		$	0.13		$	0.15
Income from discontinued operations		0.16			0.13			0.22			0.28			0.14			0.14
Net income	$	0.34		$	0.30		$	0.39		$	0.43		$	0.27		$	0.29
Diluted earnings per share
Income from continuing operations	$	0.18		$	0.17		$	0.18		$	0.15		$	0.13		$	0.15
Income from discontinued operations		0.16			0.12			0.21			0.28			0.13			0.14
Net income	$	0.34		$	0.29		$	0.39		$	0.43		$	0.26		$	0.29
Weighted average shares outstanding
Basic		73,636			73,043			72,315			70,626			69,711			69,115
Diluted		74,656			74,193			73,616			72,327			71,419			71,021

Note: All prior period figures have been restated to reflect the effects of reporting for discontinued operations.

Page 10

EQUITY ONE, INC. AND SUBSIDIARIES
PRO FORMA FINANCIAL INFORMATION FOR DISCONTINUED OPERATIONS
For the quarter ended June 30, 2005
(in thousands, except per share data)

	For the three months ended															For the six months ended
	Jun 30, 2005															Jun 30, 2005
	As			Discontinued Operations									Pre SFAS			As			Discontinued Operations									Pre SFAS
	Reported			Total			Held for Sale			Sold			No. 144			Reported			Total			Held for Sale			Sold			No. 144
Rental revenue:
Minimum rents	$	36,102		$	11,958		$	11,970		$	(12	)	$	48,060		$	71,917		$	24,234		$	23,817		$	417		$	96,151
Expense recoveries		9,950			3,834			3,871			(37	)		13,784			19,356			7,413			7,316			97			26,769
Termination fees		1,598			1,114			1,114			—			2,712			1,727			1,453			1,453			—			3,180
Percentage rent		322			12			12			—			334			1,310			157			153			4			1,467
Total rental revenue		47,972			16,918			16,967			(49	)		64,890			94,310			33,257			32,739			518			127,567
Costs and expenses:
Property operating expenses		12,041			3,998			4,024			(26	)		16,039			23,366			8,536			8,297			239			31,902
Rental property depreciation and amortization		7,776			3,162			3,139			23			10,938			15,332			6,052			5,951			101			21,384
General and administrative expenses		4,365			5			5			—			4,370			8,701			9			9			—			8,710
Total costs and expenses		24,182			7,165			7,168			(3	)		31,347			47,399			14,597			14,257			340			61,996
Income before other income and expenses, minority interest and discontinued operations		23,790			9,753			9,799			(46	)		33,543			46,911			18,660			18,482			178			65,571
Other income and expenses:
Interest expense		(11,772	)		(1,312	)		(1,305	)		(7	)		(13,084	)		(22,345	)		(2,936	)		(2,808	)		(128	)		(25,281	)
Amortization of deferred financing fees		(355	)		(15	)		(15	)		—			(370	)		(720	)		(29	)		(29	)		—			(749	)
Investment income		1,215			—			—			—			1,215			1,924			—			—			—			1,924
Other income		128			—			—			—			128			192			—			—			—			192
Income before minority interest and discontinued operations		13,006			8,426			8,479			(53	)		21,432			25,962			15,695			15,645			50			41,657
Minority interest		(46	)		—			—			—			(46	)		(96	)		—			—			—			(96	)
Income from continuing operations		12,960			8,426			8,479			(53	)		21,386			25,866			15,695			15,645			50			41,561
Discontinued operations:
Income from rental properties sold or held for sale		8,426			(8,426	)		(8,479	)		53			—			15,695			(15,695	)		(15,645	)		(50	)		—
Gain on disposal of income producing properties		3,757			—			—			—			3,757			5,372			—			—			—			5,372
Minority interest		—			—			—			—			—			—			—			—			—			—
Income from discontinued operations		12,183			(8,426	)		(8,479	)		53			3,757			21,067			(15,695	)		(15,645	)		(50	)		5,372
Net income	$	25,143		$	—		$	—		$	—		$	25,143		$	46,933		$	—		$	—		$	—		$	46,933

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 11

EQUITY ONE, INC. AND SUBSIDIARIES
PRO FORMA FINANCIAL INFORMATION FOR DISCONTINUED OPERATIONS
For the quarter ended June 30, 2005
(in thousands, except per share data)

	For the three months ended															For the six months ended
	Jun 30, 2004															Jun 30, 2004
	As			Discontinued Operations									Pre SFAS			As			Discontinued Operations									Pre SFAS
	Reported			Total			Held for Sale			Sold			No. 144			Reported			Total			Held for Sale			Sold			No. 144
Rental revenue:
Minimum rents	$	32,225		$	13,798		$	11,375		$	2,423		$	46,023		$	61,974		$	26,226		$	21,324		$	4,902		$	88,200
Expense recoveries		7,996			3,846			3,452			394			11,842			16,366			7,210			6,229			981			23,576
Termination fees		292			814			28			786			1,106			361			840			44			796			1,201
Percentage rent		250			209			35			174			459			1,383			454			234			220			1,837
Total rental revenue		40,763			18,667			14,890			3,777			59,430			80,084			34,730			27,831			6,899			114,814
Costs and expenses:
Property operating expenses		10,788			4,458			3,851			607			15,246			21,139			8,619			7,253			1,366			29,758
Rental property depreciation and amortization		6,377			2,712			2,362			350			9,089			12,245			5,276			4,531			745			17,521
General and administrative expenses		3,806			3			3			—			3,809			7,255			6			6			—			7,261
Total costs and expenses		20,971			7,173			6,216			957			28,144			40,639			13,901			11,790			2,111			54,540
Income before other income and expenses, minority interest and discontinued operations		19,792			11,494			8,674			2,820			31,286			39,445			20,829			16,041			4,788			60,274
Other income and expenses:
Interest expense		(10,278	)		(1,624	)		(1,255	)		(369	)		(11,902	)		(19,355	)		(3,121	)		(2,381	)		(740	)		(22,476	)
Amortization of deferred financing fees		(367	)		(37	)		(7	)		(30	)		(404	)		(597	)		(73	)		(13	)		(60	)		(670	)
Investment income		194			—			—			—			194			402			—			—			—			402
Other income		59			—			—			—			59			123			—			—			—			123
Equity in loss of joint ventures		—			(27	)		—			(27	)		(27	)		—			(28	)		—			(28	)		(28	)
Income before minority interest and discontinued operations		9,400			9,806			7,412			2,394			19,206			20,018			17,607			13,647			3,960			37,625
Minority interest		(177	)		(11	)		—			(11	)		(188	)		(379	)		(24	)		—			(24	)		(403	)
Income from continuing operations		9,223			9,795			7,412			2,383			19,018			19,639			17,583			13,647			3,936			37,222
Discontinued operations:
Income from rental properties sold or held for sale		9,806			(9,806	)		(7,412	)		(2,394	)		—			17,607			(17,607	)		(13,647	)		(3,960	)		—
Gain on disposal of income producing properties		(483	)		—			—			—			(483	)		1,552			—			—			—			1,552
Minority interest		(11	)		11			—			11			—			(24	)		24			—			24			—
Income from discontinued operations		9,312			(9,795	)		(7,412	)		(2,383	)		(483	)		19,135			(17,583	)		(13,647	)		(3,936	)		1,552
Net income	$	18,535		$	—		$	—		$	—		$	18,535		$	38,774		$	—		$	—		$	—		$	38,774

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 12

EQUITY ONE, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF FUNDS FROM OPERATIONS
For the quarter ended June 30, 2005
(in thousands, except per share data)

												For the
	For the three months ended					For the six months ended						year ended
	Jun 30, 2005			Jun 30, 2004		Jun 30, 2005			Jun 30, 2004			Dec 31, 2004
Net income	$	25,143		$	18,535	$	46,933		$	38,774		$	97,804
Adjustments:
Rental property depreciation and amortization, including discontinued operations		10,938			9,089		21,384			17,521			37,023
Gain on disposal of income producing properties		(3,757	)		483		(5,372	)		(1,552	)		(22,176	)
Minority interest		27			174		54			373			623
Other items:
Pro-rata share of real estate depreciation from joint ventures		—			66		—			130			197
Funds from operations	$	32,351		$	28,347	$	62,999		$	55,246		$	113,471
Increase		14.1	%				14.0	%
Earnings per diluted share*	$	0.34		$	0.26	$	0.63		$	0.55		$	1.37
Adjustments:
Rental property depreciation and amortization, including discontinued operations		0.14			0.13		0.29			0.25			0.52
Gain on disposal of income producing properties		(0.05	)		0.01		(0.07	)		(0.02	)		(0.31	)
Other items:
Pro-rata share of real estate depreciation from joint ventures		—			—		—			—			—
Funds from operations per diluted share	$	0.43		$	0.40	$	0.85		$	0.78		$	1.58
Increase		7.5	%				9.0	%

* Earnings per diluted share include the add-back of those minority interests which are convertible to shares of our common stock.

Page 13

EQUITY ONE, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF FUNDS FROM OPERATIONS — QUARTERLY BREAKOUT
For the quarter ended June 30, 2005
(in thousands, except per share data)

	For the three months ended
	Jun 30, 2005			Mar 31, 2005			Dec 31, 2004			Sep 30, 2004			Jun 30, 2004			Mar 31, 2004
Net income	$	25,143		$	21,790		$	28,330		$	30,701		$	18,535		$	20,239
Adjustments:
Rental property depreciation and amortization, including discontinued operations		10,938			10,446			10,226			9,276			9,089			8,432
(Gain) loss on disposal of income producing properties		(3,757	)		(1,615	)		(8,409	)		(12,215	)		483			(2,035	)
Minority interest		27			28			27			223			174			199
Other items:
Pro-rata share of real estate depreciation from joint ventures		—			—			—			65			66			65
Funds from operations	$	32,351		$	30,649		$	30,174		$	28,050		$	28,347		$	26,900
Sequential increase (decrease)		5.6	%		1.6	%		7.6	%		(1.0	%)		5.4	%
Earnings per diluted share*	$	0.34		$	0.29		$	0.39		$	0.43		$	0.26		$	0.29
Adjustments:
Rental property depreciation and amortization, including discontinued operations		0.14			0.14			0.14			0.13			0.13			0.12
(Gain) loss on disposal of income producing properties		(0.05	)		(0.02	)		(0.12	)		(0.17	)		0.01			(0.03	)
Other items:
Pro-rata share of real estate depreciation from joint ventures		—			—			—			—			—			—
Funds from operations per diluted share	$	0.43		$	0.41		$	0.41		$	0.39		$	0.40		$	0.38
Sequential increase (decrease)		4.9	%		—			5.1	%		(2.5	%)		5.3	%

* Earnings per diluted share include the add-back of those minority interests which are convertible to shares of our common stock

Page 14

EQUITY ONE, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF FUNDS AVAILABLE FOR DISTRIBUTION
For the quarter ended June 30, 2005
(in thousands, except per share data)

													For the
	For the three months ended						For the six months ended						year ended
	Jun 30, 2005			Jun 30, 2004			Jun 30, 2005			Jun 30, 2004			Dec 31, 2004
Funds from operations	$	32,351		$	28,347		$	63,000		$	55,247		$	113,471
Adjust for certain non-cash items:
Amortization of deferred financing fees		370			404			749			670			1,459
Amortization of above/below market rent intangibles		(364	)		(15	)		(512	)		(17	)		(192	)
Amortization of restricted stock		1,466			1,378			2,952			2,550			5,163
Straight line rents		(1,086	)		(1,070	)		(2,353	)		(1,614	)		(3,835	)
Capitalized interest		(790	)		(720	)		(1,423	)		(1,532	)		(3,204	)
Amortization of debt premium/discount		(1,335	)		(1,247	)		(2,621	)		(2,462	)		(4,958	)
Total non-cash items		(1,739	)		(1,270	)		(3,208	)		(2,405	)		(5,567	)
Adjust for recurring capital expenditures:
Tenant improvements		(2,374	)		(409	)		(2,739	)		(639	)		(1,504	)
Leasing commissions and costs		(881	)		(967	)		(2,392	)		(1,136	)		(2,744	)
Other capital expenditures		(502	)		(285	)		(916	)		(526	)		(1,236	)
Total recurring capital expenditures		(3,757	)		(1,661	)		(6,047	)		(2,301	)		(5,484	)
Funds available for distribution before debt payments		26,855			25,416			53,745			50,541			102,420
Scheduled debt payments		(2,655	)		(2,405	)		(5,410	)		(4,677	)		(9,807	)
Funds available for distribution	$	24,200		$	23,011		$	48,335		$	45,864		$	92,613
Increase		5.2	%					5.4	%
Funds available for distribution per diluted share	$	0.32		$	0.32		$	0.65		$	0.64		$	1.29
Increase		—						1.6	%
Cash dividends	$	21,575		$	19,725		$	43,001		$	39,355		$	80,903

Page 15

EQUITY ONE, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF FUNDS AVAILABLE FOR DISTRIBUTION — QUARTERLY BREAKOUT
For the quarter ended June 30, 2005
(in thousands, except per share data)

	For the three months ended
	Jun 30, 2005			Mar 31, 2005			Dec 31, 2004			Sep 30, 2004			Jun 30, 2004			Mar 31, 2004
Funds from operations	$	32,351		$	30,649		$	30,174		$	28,050		$	28,347		$	26,900
Adjust for certain non-cash items:
Amortization of deferred financing fees		370			379			381			409			404			266
Amortization of above/below market rent intangibles		(364	)		(148	)		(127	)		(48	)		(15	)		(2	)
Amortization of restricted stock		1,466			1,486			1,363			1,368			1,378			1,172
Straight line rents		(1,086	)		(1,267	)		(1,120	)		(1,100	)		(1,070	)		(544	)
Capitalized interest		(790	)		(633	)		(996	)		(676	)		(720	)		(812	)
Amortization of debt premium/discount		(1,335	)		(1,286	)		(1,265	)		(1,230	)		(1,247	)		(1,215	)
Total non-cash items		(1,739	)		(1,469	)		(1,764	)		(1,277	)		(1,270	)		(1,135	)
Adjust for recurring capital expenditures:
Tenant improvements		(2,374	)		(365	)		(570	)		(295	)		(409	)		(230	)
Leasing commissions and costs		(881	)		(1,511	)		(737	)		(871	)		(967	)		(169	)
Other capital expenditures		(502	)		(414	)		(305	)		(405	)		(285	)		(241	)
Total recurring capital expenditures		(3,757	)		(2,290	)		(1,612	)		(1,571	)		(1,661	)		(640	)
Funds available for distribution before debt payments		26,855			26,890			26,798			25,202			25,416			25,125
Scheduled debt payments		(2,655	)		(2,755	)		(2,600	)		(2,514	)		(2,405	)		(2,272	)
Funds available for distribution	$	24,200		$	24,135		$	24,198		$	22,688		$	23,011		$	22,853
Sequential increase (decrease)		0.0	%		(0.3	%)		6.7	%		(1.4	%)		0.7	%
Funds available for distribution per diluted share	$	0.32		$	0.33		$	0.33		$	0.31		$	0.32		$	0.32
Sequential increase (decrease)		(3.0	%)		—			6.5	%		(3.1	%)		—
Cash dividends	$	21,575		$	21,426		$	21,276		$	20,272		$	19,725		$	19,630

Page 16

EQUITY ONE, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(in thousands, except per share data)

	As of
	Jun 30, 2005			Mar 31, 2005			Dec 31, 2004			Sep 30, 2004			Jun 30, 2004			Mar 31, 2004
Assets
Properties
Income producing	$	1,488,652		$	1,911,819		$	1,915,216		$	1,777,783		$	1,780,145		$	1,740,063
Less: accumulated depreciation		(86,123	)		(104,718	)		(95,934	)		(86,871	)		(78,492	)		(74,485	)
Rental property		1,402,529			1,807,101			1,819,282			1,690,912			1,701,653			1,665,578
Construction in progress and land held for development		52,818			50,026			41,759			44,652			38,803			54,338
Property held for sale		432,936			9,199			12,646			12,232			44,185			1,231
Properties, net		1,888,283			1,866,326			1,873,687			1,747,796			1,784,641			1,721,147
Cash and cash equivalents		—			—			5,122			1,988			—			17
Cash held in escrow		—			—			—			8,734			5,814			1,884
Accounts and other receivables, net		12,643			10,204			15,699			12,135			9,403			8,919
Securities		52,303			44,593			35,756			29,405			18,287			—
Goodwill		13,807			13,807			14,020			14,184			14,477			14,578
Other assets		48,333			57,719			48,008			61,014			46,958			45,554
Total	$	2,015,369		$	1,992,649		$	1,992,292		$	1,875,256		$	1,879,580		$	1,792,099
Liabilities and stockholders’ equity
Liabilities
Mortgage notes payable	$	454,203		$	488,817		$	495,056		$	480,739		$	497,741		$	470,263
Unsecured revolving credit facilities		179,387			144,763			147,000			64,000			80,541			50,879
Unsecured senior notes payable		347,310			345,165			347,261			350,000			350,000			350,000
Payable for securities		4,774			—			—			—			11,075			—
Total debt		985,674			978,745			989,317			894,739			939,357			871,142
Unamortized premium/discount on notes payable		18,984			20,318			21,603			20,354			21,585			23,894
Total notes payable		1,004,658			999,063			1,010,920			915,093			960,942			895,036
Accounts payable and other liabilities		53,446			48,787			48,587			54,521			52,192			36,639
Total liabilities		1,058,104			1,047,850			1,059,507			969,614			1,013,134			931,675
Minority interest		1,437			1,417			1,397			1,388			12,400			12,444
Stockholders’ equity		955,828			943,382			931,388			904,254			854,046			847,980
Total	$	2,015,369		$	1,992,649		$	1,992,292		$	1,875,256		$	1,879,580		$	1,792,099

Page 17

EQUITY ONE, INC. AND SUBSIDIARIES
DEBT SUMMARY
As of June 30, 2005
(in thousands)

	Maturity		Jun 30, 2005		Dec 31, 2004		Percent of total
Debt Instrument	date	Rate (1)	balance		balance		indebtedness
Mortgage debt
Lantana Village	03/15/05	6.950%	$	—	$	3,512	NA
Elmwood Oaks	06/01/05	8.375%		—		7,500	NA
Benchmark Crossing (2)	08/01/05	9.250%		—		3,226	NA
Sterling Plaza (2)	09/01/05	8.750%		—		3,874	NA
Woodruff (2)	09/10/05	7.580%		—		2,969	NA
Townsend Square (2)	10/01/05	8.500%		—		4,768	NA
Green Oaks (2)	11/01/05	8.375%		—		2,937	NA
Melbourne Plaza (2)	11/01/05	8.375%		—		1,698	NA
Walden Woods	08/01/06	7.875%		2,212		2,272		0.22	%
Big Curve (3)	10/01/06	9.190%		—		5,310	NA
Highland Square	12/01/06	8.870%		3,900		3,951		0.39	%
Park Northern	12/01/06	8.370%		2,128		2,182		0.21	%
Crossroads Square	12/01/06	8.440%		12,226		12,324		1.22	%
Rosemeade	12/01/07	8.295%		3,070		3,109		0.31	%
Colony Plaza	01/01/08	7.540%		2,954		2,976		0.29	%
Parkwood	01/01/08	7.280%		6,063		6,110		0.60	%
Richwood	01/01/08	7.280%		3,123		3,147		0.31	%
Commonwealth	02/15/08	7.000%		2,574		2,636		0.26	%
Mariners Crossing	03/01/08	7.080%		3,306		3,332		0.33	%
Pine Island/Ridge Plaza	07/01/08	6.910%		24,390		24,582		2.43	%
Forestwood	01/01/09	5.070%		7,045		7,128		0.70	%
Shoppes of North Port	02/08/09	6.650%		3,956		4,008		0.39	%
Prosperity Centre	03/01/09	7.875%		5,827		6,022		0.58	%
Shoppes of Ibis	09/01/09	6.730%		5,594		5,687		0.56	%
Tamarac Town Square	10/01/09	9.190%		6,076		6,122		0.60	%
Park Promenade	02/01/10	8.100%		6,207		6,241		0.62	%

Page 18

EQUITY ONE, INC. AND SUBSIDIARIES
DEBT SUMMARY
As of June 30, 2005
(in thousands)

	Maturity					Jun 30, 2005		Dec 31, 2004		Percent of total
Debt Instrument	date		Rate (1)			balance		balance		indebtedness
Skipper Palms		03/01/10		8.625	%	$	3,510	$	3,526		0.35	%
Jonathan’s Landing		05/01/10		8.050	%		2,850		2,868		0.28	%
Bluff’s Square		06/01/10		8.740	%		9,959		10,005		0.99	%
Kirkman Shoppes		06/01/10		8.740	%		9,405		9,448		0.94	%
Ross Plaza		06/01/10		8.740	%		6,559		6,589		0.65	%
Boynton Plaza		07/01/10		8.030	%		7,384		7,423		0.73	%
Pointe Royale		07/15/10		7.950	%		4,153		4,284		0.41	%
Westgate		07/31/10		4.880	%		29,393		29,625		2.93	%
Shops at Skylake		08/01/10		7.650	%		14,074		14,266		1.40	%
Parkwest Crossing		09/01/10		8.100	%		4,660		4,684		0.46	%
Spalding Village		09/01/10		8.190	%		10,068		10,231		1.00	%
Minyards		11/01/10		8.320	%		2,453		2,473		0.24	%
Charlotte Square		02/01/11		9.190	%		3,515		3,550		0.35	%
Forest Village		04/01/11		7.270	%		4,415		4,441		0.44	%
Boca Village		05/01/11		7.200	%		8,163		8,211		0.81	%
MacLand Pointe		05/01/11		7.250	%		5,765		5,798		0.57	%
Pine Ridge Square		05/01/11		7.020	%		7,229		7,273		0.72	%
Sawgrass Promenade		05/01/11		7.200	%		8,163		8,211		0.81	%
Presidential Markets		06/01/11		7.650	%		27,016		27,159		2.69	%
Lake Mary		11/01/11		7.250	%		24,147		24,282		2.40	%
Lake St. Charles		11/01/11		7.130	%		3,812		3,833		0.38	%
Belfair Towne Village		12/01/11		7.320	%		11,092		11,197		1.10	%
Marco Town Center		01/01/12		6.700	%		8,496		8,578		0.85	%
Riverside Square		03/01/12		9.190	%		7,532		7,589		0.75	%
Sparkleberry Square (4)		11/30/12		6.170	%		6,591		6,655		0.66	%
Cashmere		11/01/12		5.880	%		5,087		5,141		0.51	%
Eastwood		11/01/12		5.880	%		6,062		6,126		0.60	%

Page 19

EQUITY ONE, INC. AND SUBSIDIARIES
DEBT SUMMARY
As of June 30, 2005
(in thousands)

	Maturity					Jun 30, 2005		Dec 31, 2004		Percent of total
Debt Instrument	date		Rate (1)			balance		balance		indebtedness
Meadows		11/01/12		5.870	%	$	6,371	$	6,438		0.63	%
Lutz Lake		12/01/12		6.280	%		7,500		7,500		0.75	%
Summerlin Square		02/01/14		6.750	%		3,477		3,622		0.35	%
Bird Ludlum		02/15/15		7.680	%		9,369		9,690		0.93	%
Treasure Coast		04/01/15		8.000	%		4,388		4,532		0.44	%
Shoppes of Silverlakes		07/01/15		7.750	%		2,545		2,627		0.25	%
Medford		02/01/16		8.690	%		5,362		5,512		0.53	%
Swampscott		02/01/16		8.690	%		2,330		2,395		0.23	%
Plymouth		02/01/16		8.690	%		3,919		4,029		0.39	%
Grassland Crossing		12/01/16		7.870	%		5,744		5,827		0.57	%
Mableton Crossing		08/15/18		6.850	%		4,012		4,062		0.40	%
Sparkleberry Square (4)		06/30/20		6.750	%		7,770		7,918		0.77	%
BridgeMill		05/05/21		7.940	%		9,309		9,395		0.93	%
Westport Plaza		08/24/23		7.490	%		4,830		4,876		0.48	%
Chastain Square		02/28/24		6.500	%		3,770		3,821		0.38	%
Daniel Village		02/28/24		6.500	%		4,121		4,177		0.41	%
Douglas Commons		02/28/24		6.500	%		4,910		4,976		0.49	%
Fairview Oaks		02/28/24		6.500	%		4,647		4,710		0.46	%
Madison Centre		02/28/24		6.500	%		3,770		3,821		0.38	%
Paulding Commons		02/28/24		6.500	%		6,401		6,487		0.64	%
Siegen Village		02/28/24		6.500	%		4,165		4,221		0.41	%
Wesley Chapel Crossing		02/28/24		6.500	%		3,289		3,332		0.33	%
Total mortgage debt (66 loans)	5.8 years			7.240	%		454,203		495,056		45.21	%
Net interest premium/discount	(wtd-avg maturity)		(wtd-avg interest rate)				11,809		12,721		1.18	%
Total mortgage debt (including net interest premium/discount)						$	466,012	$	507,777		46.39	%

Page 20

EQUITY ONE, INC. AND SUBSIDIARIES
DEBT SUMMARY
As of June 30, 2005
(in thousands)

	Maturity					Jun 30, 2005			Dec 31, 2004			Percent of total
Debt Instrument	date		Rate (1)			balance			balance			indebtedness
Unsecured senior notes payable
7.77% senior notes		04/01/06		7.770	%	$	50,000		$	50,000			4.98	%
7.25% senior notes		08/15/07		7.250	%		75,000			75,000			7.47	%
3.875% senior notes (5)		04/15/09		3.875	%		200,000			200,000			19.91	%
Fair value of interest rate swap		04/15/09	6-month Libor + 0.4375%				(2,690	)		(2,739	)		-0.27	%
7.84% senior notes		01/23/12		7.840	%		25,000			25,000			2.49	%
Total unsecured senior notes payable	3.3 years			5.080	%		347,310			347,261			34.57	%
Net interest premium/discount	(wtd-avg maturity)		(wtd-avg interest rate)				7,175			8,882			0.71	%
Total unsecured senior notes payable (including net interest premium/discount)						$	354,485		$	356,143			35.28	%
Revolving credit facilities
$340MM Wells Fargo Unsecured		02/12/06		3.690	%		178,500			147,000			17.77	%
$5MM City National Bank Unsecured		11/11/05		4.340	%		887			—			0.09	%
Total revolving credit facilities						$	179,387		$	147,000			17.86	%
Payable for securities						$	4,774		$	—			0.48	%
Total debt							985,674			989,317			98.11	%
Net interest premium/discount							18,984			21,603			1.89	%
Total debt (including net interest premium/discount)						$	1,004,658		$	1,010,920			100.00	%
Senior Unsecured Debt Ratings
Moody’s						Baa3 (Positive)			Baa3 (Stable)
S&P						BBB- (Stable)			BBB- (Stable)

Page 21

EQUITY ONE, INC. AND SUBSIDIARIES
DEBT MATURITIES
As of June 30, 2005
(in thousands)

	Secured Debt				Unsecured Debt
Maturity schedule	Scheduled		Balloon		Revolving		Senior				Percent of
by year	amortization		payments (6)		Credit Facilities (6)		Notes (7)		Total		debt maturing
2005	$	5,206	$	—	$	5,661	$	—	$	10,867		1.1	%
2006		10,957		19,699		178,500		50,000		259,156		26.2	%
2007		11,252		2,864		—		75,000		89,116		9.0	%
2008		11,391		40,104		—		—		51,495		5.2	%
2009		11,125		24,332		—		200,000		235,457		23.8	%
2010		10,224		98,471		—		—		108,695		11.0	%
2011		8,490		93,433		—		—		101,923		10.3	%
2012		7,324		40,056		—		25,000		72,380		7.3	%
2013		7,020		—		—		—		7,020		0.7	%
2014		7,110		—		—		—		7,110		0.7	%
Thereafter		35,130		10,015		—		—		45,145		4.6	%
Total	$	125,229	$	328,974	$	184,161	$	350,000	$	988,364		100.0	%

(1)	The rate in effect on June 30, 2005.
(2)	These loans have been paid off prior to the stated maturity without incurring any pre-payment penalties.
(3)	This loan was assumed by the buyer in connection with the sale of this property.
(4)	The Sparkleberry property is encumbered by two separate mortgages.
(5)	$100M of the outstanding balance has been swapped to a floating interest rate based on six-month LIBOR in arrears, plus 0.4375%. The indicated rate and weighted average rate for the unsecured notes does not reflect the effect of the interest rate swap.
(6)	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. Includes amounts payable for securities.
(7)	Excludes the adjustment attributable to the fair value of the associated interest rate swap.

Page 22

EQUITY ONE, INC. AND SUBSIDIARIES
PROPERTY STATUS REPORT
As of June 30, 2005

			Year		Total					number				Supermarket anchor						Average
			built /		square footage		Percent			of tenants				owned		shadow		name		base rent
Property		City	renovated		owned		leased			leased		vacant		SF		SF		expiration date	Other anchor tenants	per leased SF
ALABAMA (2)
	Madison Centre	Madison		1997		64,837		100.0	%		13		0		37,912			Publix (6/1/2017)	Rite Aid	$	9.72
	West Gate Plaza	Mobile		1974, 1995 / 1985		64,378		96.9	%		7		2		44,000			Winn-Dixie (7/19/2015)	Rite Aid		7.00
TOTAL SHOPPING CENTERS ALABAMA (2)						129,215		98.5	%		20		2		81,912		0			$	8.38
ARIZONA (1)
**	Park Northern	Phoenix		1982 / 1996		126,852		83.3	%		20		5		51,511			Safeway (5/31/2008)	Chuck E Cheese, Life Skills Center		6.76
TOTAL SHOPPING CENTERS ARIZONA (1)						126,852		83.3	%		20		5		51,511		0			$	6.76
FLORIDA (77)
North Florida (13)
	Atlantic Village	Atlantic Beach		1984 / 1998		100,559		97.9	%		24		1		39,795			Publix (10/31/2008)	JoAnn Fabrics, Dollar Tree		10.39
	Beauclerc Village	Jacksonville		1962 / 1988		70,429		86.9	%		10		1						Big Lots, Goodwill, Bealls Outlet		7.76
	Commonwealth	Jacksonville		1984 / 1998		81,467		95.6	%		15		1		48,997			Winn-Dixie/Save Rite (2/28/2018)			8.41
	Forest Village	Tallahassee		2000		71,526		93.9	%		14		3		37,866			Publix (4/30/2020)			10.52
	Ft. Caroline	Jacksonville		1985 / 1995		74,546		82.3	%		10		3		45,500			Winn-Dixie (5/31/2015)			7.44
	Mandarin Landing	Jacksonville		1976 / 2000		141,565		90.4	%		34		3		34,400			Publix (2/14/2007)	Office Depot		10.05
	Medical & Merchants	Jacksonville		1993		152,761		97.9	%		15		2		55,999			Publix (2/10/2013)	Memorial Health Group, Blockbuster		12.08
	Middle Beach	Panama City Beach		1994		69,277		100.0	%		9		0		56,077			Publix (9/30/2014)	Movie Gallery		9.53
	Monument Point	Jacksonville		1985 / 1997		75,128		98.0	%		11		1		46,772			Winn-Dixie (3/27/2010)	CVS Pharmacy		6.61
	Oak Hill	Jacksonville		1985 / 1997		78,492		100.0	%		19		0		39,795			Publix (3/11/2010)	Beall’s		7.12
**	Parkmore Plaza	Milton		1986		159,067		79.4	%		12		2						Bealls, Big Lots		4.52
**	Pensacola Plaza	Pensacola		1985		56,098		100.0	%		3		0		42,848			FoodWorld (12/31/2009)			4.52
	South Beach	Jacksonville Beach		1990, 1991		289,964		95.3	%		44		7		29,000			Food Lion (3/31/2010)	Home Depot, Stein Mart, Bealls		9.64
Central Florida (11)
	Alafaya Commons	Orlando		1987		123,133		99.2	%		28		1		54,230			Publix (11/30/2007)	Blockbuster		11.88
	Conway Crossing	Orlando		2002		76,321		100.0	%		18		0		44,271			Publix (4/30/2022)			11.73
	Eastwood	Orlando		1997		69,037		100.0	%		13		0		51,512			Publix (11/1/2017)			11.43

Page 23

EQUITY ONE, INC. AND SUBSIDIARIES
PROPERTY STATUS REPORT
As of June 30, 2005

			Year		Total					number				Supermarket anchor					Average
			built /		square footage		Percent			of tenants				owned		shadow	name		base rent
Property		City	renovated		owned		leased			leased		vacant		SF		SF	expiration date	Other anchor tenants	per leased SF
**	Eustis Square	Eustis		1983 / 1997 / 2004		126,791		90.2	%		20		7		15,872		Save-a-Lot (5/31/2013)	Accent Marketing, Goodwill	$	5.78
	Hunters Creek	Orlando		1998		68,032		100.0	%		9		0		51,255		Winn-Dixie (9/23/2018)			10.92
	Kirkman Shoppes	Orlando		1973		88,820		86.1	%		28		2							18.12
	Lake Mary	Orlando		1988 / 2001		342,384		99.0	%		67		19		63,139		Albertsons (6/30/2012)	Kmart, Lifestyle Fitness, Sunstar Movie Theatres		11.40
	Park Promenade	Orlando		1987 / 2000		125,818		94.7	%		24		2		55,000		Publix* (2/9/2007)	Orange County Library, Blockbuster, Goodwill		9.04
	Town & Country	Kissimmee		1993		72,043		98.3	%		12		1		52,883		Albertsons (10/31/2018)			7.32
	Unigold	Winter Park		1987		117,527		100.0	%		25		0		52,500		Winn-Dixie (4/30/2007)	Blockbuster, Lifestyle Family Fitness		11.15
	Walden Woods	Plant City		1985 / 1998, 2003		75,874		82.9	%		12		1					Dollar Tree, Aaron Rents, Dollar General		6.71
Florida West Coast (17)
	Bay Pointe Plaza	St. Petersburg		1984 / 2002		103,986		93.9	%		19		5		52,610		Publix (11/30/2021)	Bealls Outlet, West Marine		9.65
	Carrollwood	Tampa		1970 / 2002		94,203		89.8	%		29		7		27,887		Publix (11/30/2022)	Floors Today		12.24
	Charlotte Square	Port Charlotte		1980		96,188		95.0	%		22		4		44,024		Publix* (1/31/2011)	Pet Supermarket		7.89
	Chelsea Place	New Port Richey		1992		81,144		100.0	%		18		0		48,890		Publix (5/27/2012)	CVS Pharmacy		11.17
	Lake St. Charles	Tampa		1999		57,015		100.0	%		8		0		46,295		Kash n’ Karry (6/30/2019)			9.84
	Lutz Lake	Lutz		2002		64,985		97.8	%		14		1		44,270		Publix (5/31/2022)			13.66
	Marco Town Center	Marco Island		2001		109,830		98.2	%		41		2		27,887		Publix (1/31/2018)	West Marine		17.49
	Mariners Crossing	Spring Hill		1989 / 1999		85,507		98.5	%		14		2		48,315		Kash n’ Karry (8/15/2020)			8.38
	Pavilion	Naples		1982		167,745		90.7	%		37		5		50,795		Publix (2/28/2013)	Pavillion 6 Theatre, Anthony’s		14.43
	Regency Crossing	Port Richey		1986 / 2001		85,864		83.5	%		14		11		44,270		Publix (2/28/2021)			10.47
	Ross Plaza	Tampa		1984 / 1996		85,359		93.6	%		17		2					Ross Dress for Less, Laminate Kingdom		9.93
	Seven Hills	Spring Hill		1991		64,590		100.0	%		12		0		48,890		Publix (9/25/2011)			9.84
	Shoppes of North Port	North Port		1991		84,705		100.0	%		22		0		48,890		Publix (12/11/2011)	Bealls Outlet		9.99
	Skipper Palms	Tampa		1984		88,000		89.3	%		14		3		53,440		Winn-Dixie (5/31/2016)			8.56
	Summerlin Square	Fort Myers		1986 / 1998		109,156		89.4	%		20		8		45,500		Winn-Dixie (6/4/2006)	CVS Pharmacy, West Marine		9.98
	Venice Plaza	Venice		1971/ 1979 / 1999		148,779		84.2	%		14		2		42,582		Kash n’ Karry (9/30/2018)	TJ Maxx, Blockbuster		5.51
	Venice Shopping Center	Venice		1968 / 2000		111,934		91.4	%		13		2		44,271		Publix (12/31/2026)	Beall’s Outlet, Dollar Tree, Wachovia Bank		5.12

Page 24

EQUITY ONE, INC. AND SUBSIDIARIES
PROPERTY STATUS REPORT
As of June 30, 2005

			Year		Total					number				Supermarket anchor						Average
			built /		square footage		Percent			of tenants				owned		shadow		name		base rent
Property		City	renovated		owned		leased			leased		vacant		SF		SF		expiration date	Other anchor tenants	per leased SF
Florida Treasure Coast (8)
	Bluffs Square	Jupiter		1986		132,395		99.5	%		47		1		39,795			Publix (10/22/2006)	Walgreens	$	12.12
	Cashmere Corners	Port St. Lucie		2001		89,234		100.0	%		18		0		59,448			Albertsons (4/30/2025)			8.35
	Jonathan’s Landing	Jupiter		1997		26,820		100.0	%		12		0				53,850	Albertsons	Blockbuster		20.03
	New Smyrna Beach	New Smyrna Beach		1987		118,451		97.1	%		33		1		42,112			Publix (9/30/2007)	Walgreens* (Bealls Outlet), Bealls Home Outlet, Blockbuster		10.12
	Old King Commons	Palm Coast		1988		84,759		100.0	%		19		0						Wal-Mart* (Bealls Outlet)		8.13
	Ryanwood	Vero Beach		1987		114,925		100.0	%		32		0		39,795			Publix (3/23/2017)	Bealls Outlet, Books-A-Million		9.90
	Salerno Village	Stuart		1987		79,903		97.4	%		18		2		45,802			Winn-Dixie (3/23/2024)	CVS Pharmacy		10.29
	Treasure Coast	Vero Beach		1983		133,781		93.0	%		20		5		59,450			Winn-Dixie (4/12/2015)	TJ Maxx		8.63
South Florida / Atlantic Coast (28)
	Bird Ludlum	Miami		1988 / 1998		192,282		97.9	%		44		1		44,400			Winn-Dixie (12/31/2007)	CVS Pharmacy, Blockbuster, Goodwill		15.03
	Boca Village	Boca Raton		1978		93,428		100.0	%		22		0		36,000			Publix (3/31/2007)	CVS Pharmacy		15.60
	Boynton Plaza	Boynton Beach		1978 / 1999		99,324		100.0	%		29		0		37,664			Publix (8/31/2008)	CVS Pharmacy, Hollywood Video		11.17
	Countryside Shops	Cooper City		1986, 1988, 1991		179,561		98.6	%		45		1		39,795			Publix (12/4/2010)	CVS Pharmacy, Stein Mart		12.76
	Crossroads Square	Ft. Lauderdale		1973		270,206		98.2	%		24		3						Lowe’s, CVS Pharmacy, 99 Cent Stuff		7.83
	CVS Plaza	Miami		2004		29,204		95.5	%		8		1						CVS Pharmacy		13.92
	El Novillo	Miami Beach		1970 / 2000		10,000		100.0	%		1		0						Jumbo Buffet		15.49
	Greenwood	Palm Springs		1982, 1994		132,325		92.1	%		31		7		50,032			Publix (12/5/2014)	Bealls Outlet, World Savings Bank		12.13
	Lago Mar	Miami		1995		82,613		95.9	%		19		2		42,323			Publix (9/13/2015)	Blockbuster		13.01
	Lantana Village	Lantana		1976 / 1999		181,780		99.2	%		24		2		39,473			Winn-Dixie (2/15/2011)	Kmart, Rite Aid* (Family Dollar), Hollywood Video		7.14
	Meadows	Miami		1997		75,524		100.0	%		21		0		47,955			Publix (7/9/2017)			11.74
	Oakbrook Square	Palm Beach Gardens		1974 / 2000, 2003		212,074		91.8	%		27		3		44,400			Publix (11/30/2020)	Stein Mart, Homegoods, CVS, Basset Furniture		13.58
	Pine Island	Davie		1983 / 1999		254,907		99.3	%		46		1		39,943			Publix (11/30/2013)	Home Depot Expo, Bealls Outlet		10.31
	Pine Ridge Square	Coral Springs		1986 / 1998, 1999		117,399		98.3	%		33		2		17,441			Fresh Market (6/30/2009)	Bed Bath & Beyond, Off Main Furniture, Blockbuster		13.66
	Plaza Alegre	Miami		2003		91,611		98.7	%		20		1		44,271			Publix (3/14/2023)	Goodwill, Blockbuster		14.30
	Point Royale	Miami		1970 / 2000		209,863		98.2	%		24		1		45,350			Winn-Dixie (2/18/2011)	Best Buy, CVS Pharmacy* (Anna’s Linens)		6.27

Page 25

EQUITY ONE, INC. AND SUBSIDIARIES
PROPERTY STATUS REPORT
As of June 30, 2005

			Year		Total					number				Supermarket anchor						Average
			built /		square footage		Percent			of tenants				owned		shadow		name		base rent
Property		City	renovated		owned		leased			leased		vacant		SF		SF		expiration date	Other anchor tenants	per leased SF
	Prosperity Centre	Palm Beach Gardens		1993		122,106		100.0	%		9		0						Office Depot, Barnes & Noble, Bed Bath & Beyond, Carmine’s, TJ Maxx	$	15.60
	Ridge Plaza	Davie		1984 / 1999		155,204		98.7	%		28		1			(see Pine Island)			AMC Theater, Kabooms, Wachovia* (United Collection), Uncle Funny’s, Round Up		9.55
	Riverside Square	Coral Springs		1987		107,941		96.1	%		34		2		39,795			Publix (2/18/2007)	Tuesday Morning		13.45
	Sawgrass Promenade	Deerfield Beach		1982 / 1998		107,092		95.8	%		27		2		36,464			Publix (12/15/2009)	Walgreens, Blockbuster		10.67
	Sheridan	Hollywood		1973 / 1991		455,843		99.3	%		63		2		65,537			Publix (10/9/2011)	Ross, Bed Bath & Beyond, Blockbuster, Office Depot, AMC Theater, CVS, LA Fitness		12.48
	Shoppes of Ibis	West Palm Beach		1999		79,420		100.0	%		18		0		51,420			Publix (4/30/2019)			12.72
	Shoppes of Silverlakes	Pembroke Pines		1995, 1997		126,788		99.1	%		39		1		47,813			Publix (6/14/2015)	Blockbuster		16.28
	Shops at Skylake	North Miami Beach		1999-2005		247,919		99.6	%		48		1		51,420			Publix (7/31/2019)	Goodwill, L.A. Fitness, Blockbuster		15.74
	Tamarac Town Square	Tamarac		1987		127,635		89.3	%		31		9		37,764			Publix (12/15/2014)			10.82
	West Lakes Plaza	Miami		1984 / 2000		100,747		99.0	%		27		1		46,216			Winn-Dixie (10/31/2016)	Navarro Pharmacy		11.15
	Westport Plaza	Davie		2002		36,212		100.0	%		5		0		27,887			Publix (11/30/2022)	Blockbuster		16.77
	Young Circle	Hollywood		1962 / 1997		65,834		100.0	%		10		0		23,124			Publix (11/30/2016)	Walgreens		15.14
TOTAL SHOPPING CENTERS FLORIDA  (77)						9,090,759		96.0	%		1,760		164		2,879,416		53,850			$	10.89
GEORGIA (23)
Atlanta (18)
	BridgeMill	Canton		2000		89,102		90.7	%		25		6		37,888			Publix (1/31/2020)			15.02
	Butler Creek	Acworth		1990		95,597		95.4	%		16		3		59,997			Kroger (6/30/2018)			10.79
	Chastain Square	Atlanta		1981 / 2001		91,637		98.7	%		27		1		37,366			Publix (5/31/2024)			16.41
**	Commerce Crossing	Commerce		1988		100,668		41.4	%		7		4		32,000			Ingles (9/26/2009)			4.69
	Douglas Commons	Douglasville		1988		97,027		100.0	%		17		0		59,431			Kroger (8/31/2013)			9.90
	Fairview Oaks	Ellenwood		1997		77,052		100.0	%		13		0		54,498			Kroger (9/30/2016)	Blockbuster		11.33
	Grassland Crossing	Alpharetta		1996		90,906		93.2	%		11		3		70,086			Kroger (6/30/2016)			11.56
	Hamilton Ridge	Buford		2002		89,496		94.9	%		18		2		54,166			Kroger (11/30/2022)			12.80
	Mableton Crossing	Mableton		1997		86,819		97.2	%		16		1		63,419			Kroger (8/31/2017)			10.27
	Macland Pointe	Marietta		1992-1993		79,699		100.0	%		17		0		55,999			Publix (12/29/2012)			9.79
	Market Place	Norcross		1976		77,706		96.3	%		20		3						Peachtree Cinema		10.99

Page 26

EQUITY ONE, INC. AND SUBSIDIARIES
PROPERTY STATUS REPORT
As of June 30, 2005

			Year		Total					number				Supermarket anchor						Average
			built /		square footage		Percent			of tenants				owned		shadow		name		base rent
Property		City	renovated		owned		leased			leased		vacant		SF		SF		expiration date	Other anchor tenants	per leased SF
	Paulding Commons	Dallas		1991		192,391		96.4	%		27		3		49,700			Kroger (2/28/2011)	Kmart	$	8.04
	Powers Ferry Plaza	Marietta		1979, 1987 / 1998		86,473		93.2	%		21		4						Micro Center		10.52
	Presidential Markets	Snellville		1993-2000		396,408		98.5	%		33		2		56,146			Publix (12/31/2019)	Bed Bath & Beyond, GAP, TJ Maxx, Shoe Carnival, Borders, Ross Dress for Less, Marshalls, Carmike Cinema, Office Depot		10.39
	Shops of Huntcrest	Lawrenceville		2003		97,040		100.0	%		26		0		54,340			Publix (1/31/2023)			13.57
	Wesley Chapel Crossing	Decatur		1989		170,792		42.7	%		20		5		32,000			Ingles* (9/25/2009)	CVS Pharmacy		7.99
	West Towne Square	Rome		1988		89,596		87.3	%		14		4						Big Lots, Eckerd*		5.74
	Williamsburg @ Dunwoody	Dunwoody		1983		44,928		100.0	%		27		0								18.12
Central Georgia (3)
	Daniel Village	Augusta		1956 / 1997		171,932		95.4	%		35		4		45,971			Bi-Lo (3/25/2022)	Eckerd, St. Joseph Home Health Care		7.92
	Spalding Village	Griffin		1989		235,318		58.7	%		20		9		59,431			Kroger (5/31/2014)	JC Penney, Blockbuster		8.23
	Walton Plaza	Augusta		1990		43,460		100.0	%		8		0		32,960			Harris Teeter* (Omni Fitness) (4/1/2011)			9.56
South Georgia (2)
**	Colony Square	Fitzgerald		1987		50,000		71.6	%		2		5		32,200			Food Lion (Harvey’s) (12/31/2007)			5.86
	McAlpin Square	Savannah		1979		176,807		94.4	%		25		2		43,600			Kroger (8/31/2015)	US Post Office, Big Lots, In Fashion Menswear Outlet		7.50
TOTAL SHOPPING CENTERS GEORGIA  (23)						2,730,854		87.3	%		445		61		931,198		0			$	10.11
KENTUCKY (1)
**	Scottsville Square	Bowling Green		1986		38,450		48.0	%		8		4						Hancock Fabrics		6.95
TOTAL SHOPPING CENTERS KENTUCKY (1)						38,450		48.0	%		8		4		0		0			$	6.95
LOUISIANA (14)
**	Ambassador Row	Lafayette		1980, 1991		193,978		84.3	%		22		4						Conn’s Appliances, Big Lots, Chuck E Cheese, Goody’s		8.78
**	Ambassador Row Courtyard	Lafayette		1986, 1991 / 2005		146,697		84.6	%		19		5						Bed. Bath & Beyond, Marshall’s, Hancock Fabrics		9.52
**	Bluebonnet Village	Baton Rouge		1983		90,215		98.4	%		19		1		33,387			Matherne’s (11/30/2010)	Ace Hardware		8.18
**	Boulevard	Lafayette		1976, 1994		68,012		96.8	%		14		1						Piccadilly, Harbor Freight Tools, Golfballs.com		7.35
**	Country Club Plaza	Slidell		1982 / 1994		64,686		94.6	%		10		1		33,387			Winn-Dixie (1/31/2008)	Dollar General		5.90
**	Crossing	Slidell		1988, 1993		113,989		94.7	%		13		2		58,432			Save A Center (9/29/2009)	A-1 Home Appliance, Piccadilly		5.47
**	Elmwood Oaks	Harahan		1989		133,995		88.4	%		9		2						Academy Sports, Dollar Tree, Advance Auto* (Goodwill)		9.56
**	Grand Marche (ground lease)	Lafayette		1969		200,585		100.0	%		1		0						Academy Sports, JoAnn Fabrics		0.14

Page 27

EQUITY ONE, INC. AND SUBSIDIARIES
PROPERTY STATUS REPORT
As of June 30, 2005

			Year		Total					number				Supermarket anchor						Average
			built /		square footage		Percent			of tenants				owned		shadow		name		base rent
Property		City	renovated		owned		leased			leased		vacant		SF		SF		expiration date	Other anchor tenants	per leased SF
**	Plaza Acadienne	Eunice		1980		105,419		96.2	%		7		1		28,092			Super 1 Store (6/30/2010)	Fred’s, Howard Brothers*	$	3.52
**	Sherwood South	Baton Rouge		1972, 1988, 1992		77,107		74.4	%		8		2						Burke’s Outlet, Harbor Freight Tools, Blockbuster		7.43
**	Siegen Village	Baton Rouge		1988		170,416		99.5	%		19		1						Office Depot, Big Lots, Dollar Tree, Stage, Party City		8.41
**	Tarpon Heights	Galliano		1982		56,605		90.9	%		7		3						CVS Pharmacy, Stage, Dollar General		4.68
**	Village at Northshore	Slidell		1988		144,638		97.6	%		12		1						Marshalls, Dollar Tree, Kirschman’s, Bed Bath & Beyond, Office Depot		8.41
**	Wal-Mart Mathews	Mathews		1985		54,223		100.0	%		1		0						Wal-Mart		2.90
TOTAL SHOPPING CENTERS LOUISIANA (14)						1,620,565		92.9	%		161		24		153,298		0			$	6.46
MASSACHUSETTS (6)
	Cambridge Star Market	Cambridge		1953 / 1997		66,108		100.0	%		1		0		66,108			Star Market (1/2/2016)			23.90
	Medford Shaw’s Supermarket	Medford		1995		60,356		100.0	%		1		0		60,356			Shaw’s (1/1/2016)			21.37
	Plymouth Shaw’s Supermarket	Plymouth		1993		59,726		100.0	%		1		0		59,726			Shaw’s (1/1/2016)			15.79
	Quincy Star Market	Quincy		1965 / 1995		100,741		100.0	%		1		0		100,741			Star Market (1/2/2016)			15.43
	Swampscott Whole Foods	Swampscott		1967 / 2005		35,907		100.0	%		1		0		35,907			Whole Foods (1/1/2016)			21.00
	West Roxbury Shaw’s Plaza	West Roxbury		1973 / 1995		68,141		100.0	%		7		0		54,928			Shaw’s (1/2/2016)			21.28
TOTAL SHOPPING CENTERS MASSACHUSETTS (6)						390,979		100.0	%		12		0		377,766		0			$	19.37
MISSISSIPPI (1)
	Shipyard Plaza	Pascagoula		1987		66,857		100.0	%		7		0						Rite Aid, Big Lots		5.77
TOTAL SHOPPING CENTERS MISSISSIPPI (1)						66,857		100.0	%		7		0		0		0			$	5.77
NORTH CAROLINA (12)
	Centre Pointe Plaza	Smithfield		1989		163,642		94.7	%		21		3						Belk’s, Goody’s, Dollar Tree		6.02
	Chestnut Square	Brevard		1985		39,640		83.9	%		4		3		21,000			Food Lion* (9/28/2010)	Dollar General		5.45
	Galleria	Wrightsville Beach		1986, 1990		92,114		91.5	%		32		6		28,000			Harris Teeter (4/5/2006)	Eckerd		9.57
	Parkwest Crossing	Durham		1990		85,602		98.4	%		16		1		38,052			Food Lion (12/14/2010)			10.18
**	Plaza North	Hendersonville		1986		47,240		94.9	%		7		2		25,590			Bi-Lo* (8/31/2006)	CVS Pharmacy		7.02
	Providence Square	Charlotte		1973		85,930		90.2	%		18		7		35,702			Harris Teeter* (4/30/2006)	Eckerd		8.16
	Riverview Shopping Center	Durham		1973 / 1995		127,498		96.5	%		11		2		53,538			Kroger (12/31/2014)	Upchurch Drugs, Blockbuster		7.18

Page 28

EQUITY ONE, INC. AND SUBSIDIARIES
PROPERTY STATUS REPORT
As of June 30, 2005

			Year		Total					number				Supermarket anchor						Average
			built /		square footage		Percent			of tenants				owned		shadow		name		base rent
Property		City	renovated		owned		leased			leased		vacant		SF		SF		expiration date	Other anchor tenants	per leased SF
	Salisbury Marketplace	Salisbury		1987		79,732		93.9	%		17		3		31,762			Food Lion (2/11/2023)		$	10.07
**	Shelby Plaza	Shelby		1972		103,200		100.0	%		8		0						Big Lots, Aaron Rents* (Hancock Fabrics), Tractor Supply Company		3.16
**	Stanley Market Place	Stanley		1980, 1987		40,400		100.0	%		3		0		28,400			Winn-Dixie (10/31/2006)	Family Dollar		5.48
**	Thomasville Commons	Thomasville		1991		148,754		100.0	%		13		0		32,000			Ingles (9/29/2012)	Kmart, CVS Pharmacy		6.00
	Willowdaile Shopping Center	Durham		1986		121,376		92.3	%		23		5		53,368			Harris Teeter (5/14/2009)	Eckerd* (Family Dollar)		10.20
TOTAL SHOPPING CENTERS NORTH CAROLINA (12)						1,135,128		95.3	%		173		32		347,412		0			$	7.35
SOUTH CAROLINA (8)
	Belfair Towne Village	Bluffton		2000-2003		125,389		100.0	%		29		0		55,696			Kroger (10/31/2019)	Blockbuster		14.10
**	Lancaster Plaza	Lancaster		1971 / 1990		77,400		32.6	%		2		2		19,200			Bi-Lo (9/30/2010)			2.86
**	Lancaster Shopping Center	Lancaster		1963, 1987		29,047		100.0	%		2		0						Sweet Union Furniture		2.07
	North Village Center	North Myrtle Beach		1984		60,356		96.8	%		12		2		24,806			Bi-Lo (5/31/2009)	Dollar General, Gold’s Gym		8.61
	Sparkleberry Square	Columbia		1997 / 2004		339,051		98.4	%		23		3		67,943			Kroger (8/31/2017)	Kohl’s, Ross Dress for Less, Circuit City, Bed Bath & Beyond, Petsmart, Pier One		11.14
	Spring Valley	Columbia		1978 / 1997		75,415		95.2	%		15		3		45,070			Bi-Lo (12/31/2017)			9.10
	Windy Hill	North Myrtle Beach		1968 / 1988		64,465		100.0	%		2		0						Rose’s Store, Family Dollar Store		5.49
	Woodruff	Greenville		1995		68,055		100.0	%		10		0		47,955			Publix (8/6/2015)	Blockbuster		10.09
TOTAL SHOPPING CENTERS SOUTH CAROLINA (8)						839,178		92.5	%		95		10		260,670		0			$	10.07
TENNESSEE (1)
	Smyrna Village	Smyrna		1992		83,334		96.6	%		11		1		59,214			Kroger (2/29/2012)			8.33
TOTAL SHOPPING CENTERS TENNESSEE (1)						83,334		96.6	%		11		1		59,214		0			$	8.33
TEXAS (32)
Houston (17)
**	Barker Cypress	Houston		1999		66,945		90.9	%		13		4		41,320			H.E.B. (1/31/2014)			12.50
**	Beechcrest	Houston		1981 / 2001		90,647		98.7	%		14		1		40,345			Randall’s* (6/24/2016)	Walgreens*		8.66
**	Benchmark Crossing	Houston		1986		58,384		100.0	%		5		0						Bally’s Fitness		12.70
**	Bissonnet	Houston		1999		15,542		73.6	%		7		1				63,000	Kroger	Blockbuster		16.35
**	Colony Plaza	Sugarland		1997		26,513		95.0	%		14		1								19.01

Page 29

EQUITY ONE, INC. AND SUBSIDIARIES
PROPERTY STATUS REPORT
As of June 30, 2005

			Year		Total					number				Supermarket anchor						Average
			built /		square footage		Percent			of tenants				owned		shadow		name		base rent
	Property	City	renovated		owned		leased			leased		vacant		SF		SF		expiration date	Other anchor tenants	per leased SF
**	Copperfield	Houston		1994		133,984		98.2	%		31		2						JoAnn Fabrics, Dollar Tree, 24 Hour Fitness	$	12.37
**	Forestwood	Houston		1993		88,760		100.0	%		16		0		59,334			Kroger (7/31/2013)	Blockbuster		11.35
**	Grogan’s Mill	The Woodlands		1986		118,493		97.4	%		25		1		56,558			Randall’s* (99¢ Store) (6/24/2016)	Petco. Blockbuster		12.21
**	Hedwig	Houston		1974		69,504		74.3	%		12		2						Ross Dress for Less		14.91
**	Highland Square	Sugarland		1998		64,171		91.4	%		24		4								17.15
**	Market at First Colony	Sugarland		1988		107,301		98.1	%		34		1				62,000	Kroger	TJ Maxx, CVS Pharmacy		16.27
**	Mason Park	Katy		1998		160,047		73.5	%		34		5				58,890	Kroger	Walgreens* (Eloise Collectibles), Palais Royal, Petco		12.27
**	Mission Bend	Houston		1980 / 1999		131,575		88.1	%		25		2		46,112			Randall’s (6/24/2016)	Remarkable Furniture		8.98
**	Spring Shadows	Houston		1999		106,995		96.1	%		17		1		65,161			H.E.B. (4/30/2023)			9.64
**	Steeplechase	Jersey Village		1985		105,152		96.9	%		23		2		56,208			Randall’s (6/24/2016)			11.24
**	Sutherland Lumber	Marble Falls		1985		53,571		100.0	%		1		0						Sutherland Lumber		2.82
**	Westgate	Houston		1996 / 1998		298,354		100.0	%		25		0		75,154			H.E.B. (12/31/2015)	Kohl’s, Oshman’s Sporting Goods, Office Max, Pier One Imports		11.75
Dallas (12)
**	Creekside	Arlington		1997 / 1998		101,016		100.0	%		17		0		60,932			Kroger (11/30/2021)	Hollywood Video		12.22
**	DeSoto Shopping Center	DeSoto		1996		69,090		100.0	%		5		0		58,960			Tom Thumb (11/15/2021)	Blockbuster		9.53
**	Green Oaks	Arlington		1983		65,091		69.7	%		24		10				58,000	Kroger			10.85
**	Melbourne Plaza	Hurst		1983		47,517		92.9	%		16		2								11.60
**	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		92.2	%		18		2				62,000	Albertsons	Hollywood Video		13.33
**	Richwood	Richardson		1984		54,871		93.4	%		24		3				61,877	Albertsons	Blockbuster		12.67
**	Rosemeade	Carrollton		1986		51,231		30.9	%		7		11						Blockbuster		14.09
**	Southlake Village	Southlake		1996		118,092		90.2	%		20		2		60,932			Kroger (10/31/2021)			13.04
**	Sterling Plaza	Irving		1989		65,765		93.1	%		14		2						Bank One, Irving City Library, 99 Cent Only Store		14.32
**	Townsend Square	Desoto		1990		146,953		84.3	%		31		7				60,349	Albertsons	Bealls, Victory Gym, Dollar General		8.90
**	Village by the Park	Arlngton		1988		44,523		96.6	%		9		1						Petco, Movie Trading		18.11

Page 30

EQUITY ONE, INC. AND SUBSIDIARIES
PROPERTY STATUS REPORT
As of June 30, 2005

			Year		Total					number				Supermarket anchor						Average
			built /		square footage		Percent			of tenants				owned		shadow		name		base rent
	Property	City	renovated		owned		leased			leased		vacant		SF		SF		expiration date	Other anchor tenants	per leased SF
San Antonio(3)
**	Bandera Festival	San Antonio		1989		195,438		94.3	%		34		4						Beall’s, Big Lots, Burke’s Outlet, Dollar Tree, FWL Furniture	$	8.26
**	Blanco Village	San Antonio		2000		108,325		100.0	%		16		0		74,627			H.E.B. (4/30/2015)			15.98
**	Wurzbach	San Antonio		1979		59,771		100.0	%		3		0		52,957			Albertsons* (1/31/2010)			3.04
TOTAL SHOPPING CENTERS TEXAS (32)						2,970,506		92.3	%		560		71		807,295		426,116			$	11.49
VIRGINA (2)
**	Smyth Valley Crossing	Marion		1989		126,841		100.0	%		14		0		32,000			Ingles (9/25/2010)	Wal-Mart		5.96
**	Waterlick Plaza	Lynchburg		1973, 1988		98,694		97.4	%		21		2		30,780			Kroger (3/18/2008)	CVS Pharmacy*, Dollar Tree		8.00
TOTAL SHOPPING CENTERS VIRGINIA (2)						225,535		98.8	%		35		2		62,780		0			$	6.84
TOTAL CORE SHOPPING CENTER PORTFOLIO (180)						19,448,212		93.7	%		3,307		376		6,012,472		479,966			$	10.32
DEVELOPMENTS & REDEVELOPMENTS (6)
	Homestead Gas Station	Homestead, FL		1959		2,136		100.0	%		1		0								20.33
	Shops at St. Lucie	Port St. Lucie, FL	2005 Development		4.0 acres
	Sunlake Development Parcel	Tampa, FL	TBD		155.0 acres
	Waterstone	Homestead, FL	2005 Development		12.0 acres
	Westridge	McDonough, GA	2005-06 Development		13.5 acres
	Winchester Plaza	Huntsville, AL	2005-06 Development		33.0 acres
TOTAL DEVELOPMENTS & REDEVELOPMENTS (6)						2,136		100.0	%		1		0		0		0			$	20.33
TOTAL RETAIL PROPERTIES (186)						19,450,348		93.7	%		3,308		376		6,012,472		479,966			$	10.32
OTHER PROPERTIES (3)
	4101 South I-85 Industrial	Charlotte, NC		1956, 1963		188,513		81.7	%		3		6
**	Pinhook Office Building	Lafayette, LA		1979, 1992		4,406		49.5	%		1		1
	Mandarin Mini-storage	Jacksonville, FL		1982		52,880		97.0	%		523		16
GRAND TOTAL (189)						19,696,147		93.6	%		3,835		399		6,012,472		479,966

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 ( ).
**	Indicates properties that were classified as held for sale as of June 30, 2005.

Page 31

EQUITY ONE, INC. AND SUBSIDIARIES
ANNUAL MINIMUM RENT BY STATE
As of June 30, 2005

State	Count		Total SF		# Leased		# Vacant		Leased %			AMR
Florida		78		9,092,895		1,761		164		96.0	%	$	94,984,019
Texas		32		2,970,506		560		71		92.3	%		31,504,714
Georgia		23		2,730,854		445		61		87.3	%		24,113,711
Louisiana		14		1,620,565		161		24		92.9	%		9,733,932
North Carolina		12		1,135,128		173		32		95.3	%		7,945,772
South Carolina		8		839,178		95		10		92.5	%		7,814,471
Massachusetts		6		390,979		12		0		100.0	%		7,571,871
Virginia		2		225,535		35		2		98.8	%		1,525,141
Alabama		2		129,215		20		2		98.5	%		1,066,626
Arizona		1		126,852		20		5		83.3	%		714,411
Tennessee		1		83,334		11		1		96.6	%		670,482
Mississippi		1		66,857		7		0		100.0	%		386,004
Kentucky		1		38,450		8		4		48.0	%		128,163
Total		181		19,450,348		3,308		376		93.7	%	$	188,159,317

Note: Excludes five development parcels and three commercial properties.

Page 32

EQUITY ONE, INC. AND SUBSIDIARIES
LEASING ACTIVITY
For the three months ended June 30, 2005

Renewals

			Average	Average	Annualized
		Average	Expiring	New	Minimum
# of Leases	Square Feet	Size	Rent psf	Rent psf	Rent
89	203,395	2,285	$13.14	$13.65	$2,775,989
			% Increase psf	3.9%
			Net Increase (AMR)		$  104,243

New Leases

			Average	Annualized
		Average	New	Minimum
# of Leases	Square Feet	Size	Rent psf	Rent
82	511,440	6,237	$7.57	$3,873,109

Lost Leases

			Average	Annualized
		Average	Expiring	Minimum
# of Leases	Square Feet	Size	Rent psf	Rent
77	712,015	9,247	$6.34	$4,516,171

Note: Includes six Anchor lease terminations representing $2.2 million of AMR on 472,296 square feet in connection with which we received $2.7 million of lease termination payments.

Net Absorption	(200,575	)	New Leases — Lost Leases
Leasing Spread	19.4	%	New Leases versus Lost Leases (rate psf)

Net AMR Gain ($538,819)

Page 33

EQUITY ONE, INC. AND SUBSIDIARIES
LEASING ACTIVITY
For the six months ended June 30, 2005

Renewals

			Average	Average	Annualized
		Average	Expiring	New	Minimum
# of Leases	Square Feet	Size	Rent psf	Rent psf	Rent
178	399,271	2,243	$14.18	$14.81	$5,914,418
			% Increase psf	4.4%
			Net Increase (AMR)		$  254,441

New Leases

			Average	Annualized
		Average	New	Minimum
# of Leases	Square Feet	Size	Rent psf	Rent
168	851,720	5,070	$9.39	$7,997,144

Lost Leases

			Average	Annualized
		Average	Expiring	Minimum
# of Leases	Square Feet	Size	Rent psf	Rent
159	1,028,649	6,469	$7.52	$7,739,623

Note: Includes six Anchor lease terminations representing $2.2 million of AMR on 472,296 square feet in connection with which we received $2.7 million of lease termination payments.

Net Absorption	(176,929	)	New Leases — Lost Leases
Leasing Spread	24.9	%	New Leases versus Lost Leases (rate psf)

Net AMR Gain $511,962

Page 34

EQUITY ONE, INC. AND SUBSIDIARIES
OCCUPANCY STATISTICS
For the three months ended June 30, 2005

Note: Reflects those properties held in the core portfolio at the end of each indicated quarter.

Note: Reflects 153 properties owned by Equity One in each of the previous nine quarters.

Page 35

EQUITY ONE, INC. AND SUBSIDIARIES
SAME PROPERTY OCCUPANCY STATISTICS — STATE BREAKOUT
For the three months ended June 30, 2005

Note: The charts reflect a state-by-state breakdown of 153 properties owned by Equity One in each of the previous nine quarters.

Page 36

EQUITY ONE, INC. AND SUBSIDIARIES
TENANT CONCENTRATION SCHEDULE
As of June 30, 2005

										% of total			Average annual
	Number				% of total			Annualized		annualized			minimum
	of		Square		square			minimum		minimum			rent per
Tenant	stores		feet		feet			rent		rent			square foot
Top ten tenants
Publix		49		2,164,544		11.1	%	$	15,614,741		8.3	%	$	7.21
Kroger		17		962,697		4.9	%		7,998,271		4.3	%		8.31
Albertsons/Shaw’s		9		570,286		2.9	%		7,567,853		4.0	%		13.27
Winn Dixie		16		730,442		3.8	%		5,059,331		2.7	%		6.93
H.E. Butt Grocery		4		256,262		1.3	%		2,775,355		1.5	%		10.83
Blockbuster		29		170,092		0.9	%		2,691,745		1.4	%		15.83
CVS Pharmacy		20		204,389		1.1	%		2,233,007		1.2	%		10.93
Bed Bath & Beyond		7		227,689		1.2	%		2,192,531		1.2	%		9.63
Safeway/Randalls		6		309,694		1.6	%		2,111,866		1.1	%		6.82
Food Lion/Kash N’ Karry		9		292,256		1.5	%		1,965,651		1.0	%		6.73
Sub-total top ten tenants		166		5,888,351		30.3	%	$	50,210,351		26.7	%	$	8.53
Remaining tenants		3,142		12,342,976		63.5	%		137,948,966		73.3	%		11.18
Sub-total all tenants		3,308		18,231,327		93.7	%	$	188,159,317		100.0	%	$	10.32
Vacant		376		1,219,021		6.3	%	NA		NA			NA
Total including vacant		3,684		19,450,348		100.0	%	$	188,159,317		100.0	%	$	9.67

Note: Excludes five development parcels and three commercial properties.

Page 37

EQUITY ONE, INC. AND SUBSIDIARIES
SHOPPING CENTER LEASE EXPIRATION SCHEDULE
As of June 30, 2005

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		135		283,474		1.5	%	$	3,294,707		1.7	%	$	11.62
2005		373		1,009,811		5.2	%		10,843,411		5.5	%		10.74
2006		689		2,007,074		10.3	%		25,238,748		12.8	%		12.57
2007		664		2,109,808		10.8	%		26,256,010		13.3	%		12.44
2008		521		1,763,832		9.1	%		22,170,166		11.3	%		12.57
2009		363		1,751,799		9.0	%		19,043,711		9.7	%		10.87
2010		247		1,334,407		6.9	%		14,652,314		7.4	%		10.98
2011		50		935,763		4.8	%		7,530,255		3.8	%		8.05
2012		49		930,787		4.8	%		7,819,781		4.0	%		8.40
2013		34		664,694		3.4	%		6,160,217		3.1	%		9.27
2014		34		761,949		3.9	%		6,297,603		3.2	%		8.27
Thereafter		149		4,677,929		24.1	%		47,478,113		24.2	%		10.15
Sub-total / average		3,308		18,231,327		93.7	%	$	196,785,036		100.0	%	$	10.79
Vacant		376		1,219,021		6.3	%		NA		NA			NA
Total / average		3,684		19,450,348		100.0	%	$	196,785,036		100.0	%	$	10.12

Square feet

Note: Excludes five development parcels and three commercial properties.

Page 38

EQUITY ONE, INC. AND SUBSIDIARIES
SHOPPING CENTER LEASE EXPIRATION SCHEDULE
As of June 30, 2005

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		34,594		0.3	%	$	275,811		0.3	%	$	7.97
2005		6		117,156		1.0	%		484,828		0.5	%		4.14
2006		27		649,078		5.4	%		4,099,640		4.5	%		6.32
2007		32		811,439		6.7	%		5,586,166		6.1	%		6.88
2008		28		686,603		5.7	%		4,536,759		5.0	%		6.61
2009		39		1,006,539		8.3	%		6,480,620		7.1	%		6.44
2010		37		871,491		7.2	%		5,589,626		6.1	%		6.41
2011		21		848,161		7.0	%		5,558,674		6.1	%		6.55
2012		22		829,581		6.8	%		5,570,295		6.1	%		6.71
2013		15		589,538		4.9	%		4,590,453		5.0	%		7.79
2014		15		684,976		5.7	%		4,689,677		5.1	%		6.85
Thereafter		96		4,474,352		36.9	%		43,797,273		48.1	%		9.79
Sub-total / average		341		11,603,508		95.8	%	$	91,259,822		100.0	%	$	7.86
Vacant		19		513,985		4.2	%		NA		NA			NA
Total / average		360		12,117,493		100.0	%	$	91,259,822		100.0	%	$	7.53

Square feet

Note: Excludes five development parcels and three commercial properties.

Page 39

EQUITY ONE, INC. AND SUBSIDIARIES
SHOPPING CENTER LEASE EXPIRATION SCHEDULE
As of June 30, 2005

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		132		248,880		3.4	%	$	3,018,896		2.9	%	$	12.13
2005		367		892,655		12.2	%		10,358,583		9.8	%		11.60
2006		662		1,357,996		18.5	%		21,139,108		20.0	%		15.57
2007		632		1,298,369		17.7	%		20,669,844		19.6	%		15.92
2008		493		1,077,229		14.7	%		17,633,407		16.7	%		16.37
2009		324		745,260		10.1	%		12,563,091		11.9	%		16.86
2010		210		462,916		6.3	%		9,062,688		8.6	%		19.58
2011		29		87,602		1.2	%		1,971,581		1.9	%		22.51
2012		27		101,206		1.4	%		2,249,486		2.1	%		22.23
2013		19		75,156		1.0	%		1,569,764		1.5	%		20.89
2014		19		76,973		0.9	%		1,607,926		1.5	%		20.89
Thereafter		53		203,577		2.8	%		3,680,840		3.5	%		18.08
Sub-total / average		2,967		6,627,819		90.4	%	$	105,525,214		100.0	%	$	15.92
Vacant		357		705,036		9.6	%		NA		NA			NA
Total / average		3,324		7,332,855		100.0	%	$	105,525,214		100.0	%	$	14.39

Square feet

Note: Excludes five development parcels and three commercial properties.

Page 40

EQUITY ONE, INC. AND SUBSIDIARIES
REAL ESTATE DEVELOPMENTS AND REDEVELOPMENTS
As of June 30, 2005
(in thousands, except square footage data)

			Target	Estimated		Funded as of		Balance
Project	Location	Project Description	Completion Date	Cost Including Land		6/30/2005		to Complete
Developments
Shops at St. Lucie	Port St. Lucie, FL	Develop a 20,000 sf retail center. Prospecting for new tenant(s)	Fourth quarter 2005	$	3,400	$	1,370	$	2,030
Shops at Skylake	N. Miami Beach, FL	Add additional space to existing development	First quarter 2006		5,599		2,264		3,335
Sunlake	Tampa, FL	155 acre mixed-use development project	TBD		23,602		13,108		10,494
Waterstone	Homestead, FL	Develop a supermarket anchored center	Third quarter 2005		9,635		8,945		690
Westridge	McDonough, GA	Develop a supermarket anchored center	First quarter 2006		9,000		2,286		6,714
Winchester Plaza	Huntsville, AL	Develop a supermarket anchored center.	Second Quarter 2006		8,055		2,413		5,642
Subtotal — Developments					59,291		30,386		28,905
Major Redevelopments
Spalding Village	Griffin, GA	Reconfigure the former K Mart space into multi-tenant space; Approx. 20,000 sq ft has been leased and prospecting for new tenants for the remainder of the space.	Third Quarter 2005/ TBD		3,586		3,046		540
Subtotal — Major Redevelopments					3,586		3,046		540
Out parcel Developments/Expansions
Belfair Towne Village	Bluffton, SC	Prospecting for new tenant(s) on land held for development/expansion	TBD		2,582		1,423		1,159
Cashmere Corners	Port St. Lucie, FL	Prospecting for one or more tenants for out parcels	TBD		503		503		—
Forest Village	Tallahassee, FL	Prospecting for new tenant(s) on land held for development/expansion	TBD		1,750		1,750		—
Mariners Crossing	Spring Hill, FL	The development of a Goodyear out parcel is underway; one other out pacel is planned	Fourth quarter 2005		1,654		549		1,105
Riverview	Durham, NC	Develop a 5,000 sf ft building on an out parcel	Second quarter 2006		620		179		441
West Roxbury	West Roxbury, MA	Prospecting for one or more tenants for out parcels	Fourth quarter 2005		1,480		555		925
Westport	Davie, FL	Prospecting for one or more tenants for out parcels	TBD		571		571		—
Windy Hill	North Myrtle Beach, SC	Construction of additional 4,000 sq ft out parcel building has commenced.	Fourth quarter 2005		660		176		484
Young Circle	Hollywood, FL	Future mixed-use development	TBD		9,580		9,580		—
Subtotal — Out parcel Developments/Expansions					19,400		15,286		4,114
All other development activity					4,241		4,100		141
Total Development Activity — Continuing Operations					86,518		52,818		33,700
Development activity for properties held for sale					9,646		9,646		—
Total — All Development Activity				$	96,164	$	62,464	$	33,700

Page 41

EQUITY ONE, INC. AND SUBSIDIARIES
REAL ESTATE ACQUISITIONS AND DISPOSITIONS
As of June 30, 2005
(in thousands, except square footage data)

2005 Acquisition Activity

Date Purchased	Property Name	City	State	Square Feet/		Purchase
				Acres		Price
Feb. 1, 2005	Sunlake Development Parcel	Tampa	FL	155 acres		$	12,600
Feb. 28, 2005	Winchester Plaza	Huntsville	AL	33 acres			2,326
May 19, 2005	Young Circle	Hollywood	FL		65,834		22,000
Total						$	36,926

2005 Disposition Activity

Date Sold	Property Name	City	State	Square Feet/		Sales		Gain on Sale
				Acres		Price
Jan. 31, 2005	North River Village	North Ellenton	FL		177,128	$	14,880	$	1,615
April 6, 2005	Big Curve	Yuma	AZ		126,402		13,640		3,757
Total						$	28,520	$	5,372

Properties Held for Sale as of June 30, 2005

	Property Name	City	State
	45 property portfolio sale		TX/LA
	15 property portfolio sale		Various
	Park Northern	Phoenix	AZ
	Waterlick	Lynchburg	VA
Total

Page 42

EQUITY ONE, INC. AND SUBSIDIARIES
ANALYST COVERAGE
As of June 30, 2005

BB&T Capital Markets	Bear Stearns & Co. Inc.	Credit Suisse First Boston	Deutsche Bank Securities Inc.
Stephanie M. Krewson	Ross Smotrich	Andrew Rosivach	Louis W. Taylor
804-782-8784	212-272-8046	212-325-6205	212-250-4912
Rob Whittemore	Amy L. Young, CFA	Jessica Tully	Christopher A. Capalongo
804-782-8796	212-272-3523	404-897-2820	212-250-7726
Friedman Billings Ramsey	JP Morgan Securities Inc.	Legg Mason Wood Walker, Inc.	McDonald Investments Inc.
Paul Morgan	Michael W. Meuller, CFA	David M. Fick, CPA	Richard C. Moore II, CFA
703-469-1255	212-622-6689	410-454-5018	216-443-2815
Michael Blank	Joshua Bederman	Nathen Isbee
703-469-1115	212-622-6530	410-454-4143
Raymond James & Associates	Stifel, Nicolaus & Company, Inc.	UBS Securities LLC
Paul D. Puryear	Philip Martin	Ian C. Weissman
727-567-2253	312-454-3985	212-713-8602
Ken Avalos
727-567-2660

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