10-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-K

T ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2012

OR

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from              to

Commission file number 001-13499

EQUITY ONE, INC.

(Exact name of registrant as specified in its charter)

Maryland	52-1794271
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

1600 N.E. Miami Gardens Drive North Miami Beach, FL	33179
(Address of principal executive offices)	(Zip code)

Registrant’s telephone number, including area code: (305) 947-1664

________________________

Securities registered pursuant to Section 12(b) of the Act:

Common Stock, $.01 Par Value	New York Stock Exchange
(Title of each class)	(Name of exchange on which registered)

Securities registered pursuant to Section 12(g) of the Act: None

________________________

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.    Yes  T    No  ¨

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.    Yes  ¨    No  T

Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  T    No  ¨

Indicate by check mark whether the Registrant has submitted electronically and posted on its corporate Website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulations S-T (232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    Yes  T    No  ¨

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of Registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K.  ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	T		Accelerated filer	£
Non-accelerated filer	£	(Do not check if a smaller reporting company)	Smaller reporting company	£

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act)    Yes  ¨    No  T

As of June 30, 2012, the last business day of the Registrant’s most recently completed second fiscal quarter, the aggregate market value of the Common Stock held by non-affiliates of the Registrant was $1,216,190,610 based upon the last reported sale price of $21.20 per share on the New York Stock Exchange on such date.

As of February 19, 2013, the number of outstanding shares of Common Stock, par value $.01 per share, of the Registrant was 118,897,559.

________________________

DOCUMENTS INCORPORATED BY REFERENCE

Certain sections of the Registrant’s definitive Proxy Statement for the 2013 Annual Meeting of Stockholders to be filed within 120 days after the end of the fiscal year covered by this Annual Report on Form 10-K to the extent stated herein are incorporated by reference in Part III hereof.

EQUITY ONE, INC. AND SUBSIDIARIES

TABLE OF CONTENTS

		Page
PART I
Item 1.	Business	1
Item 1A.	Risk Factors	5
Item 1B.	Unresolved Staff Comments	15
Item 2.	Properties	16
Item 3.	Legal Proceedings	25
Item 4.	Mine Safety Disclosures	25
PART II
Item 5.	Market For Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities	26
Item 6.	Selected Financial Data	29
Item 7.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	32
Item 7A.	Quantitative and Qualitative Disclosures About Market Risk	55
Item 8.	Financial Statements and Supplementary Data	56
Item 9.	Changes in and Disagreements with Accountants on Accounting and Financial Disclosure	56
Item 9A.	Controls and Procedures	56
Item 9B.	Other Information	56
PART III
Item 10.	Directors, Executive Officers and Corporate Governance	57
Item 11.	Executive Compensation	57
Item 12.	Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters	57
Item 13.	Certain Relationships and Related Transactions and Director Independence	57
Item 14.	Principal Accounting Fees and Services	57
PART IV
Item 15.	Exhibits and Financial Statement Schedules	58
	Signatures	65

PART I

ITEM 1. BUSINESS

The Company

We are a real estate investment trust, or REIT, that owns, manages, acquires, develops and redevelops shopping centers and retail properties located primarily in supply constrained suburban and urban communities. We were organized as a Maryland corporation in 1992, completed our initial public offering in May 1998, and have elected to be taxed as a REIT since 1995.

As of December 31, 2012, our consolidated property portfolio comprised 168 properties, including 144 retail properties and six non-retail properties totaling approximately 16.9 million square feet of gross leasable area, or GLA, 11 development or redevelopment properties with approximately 2.2 million square feet of GLA upon completion, and seven land parcels. As of December 31, 2012, our core portfolio was 92.1% leased and included national, regional and local tenants. Additionally, we had joint venture interests in 18 retail properties and two office buildings totaling approximately 3.3 million square feet of GLA. For a listing of the properties in our core portfolio, refer to Item 2 - Properties.

In this annual report, references to “we,” “us” or “our” or similar terms refer to Equity One, Inc. and our consolidated subsidiaries, including DIM Vastgoed, N.V., which we refer to as DIM, a Dutch company in which we acquired a controlling interest in the first quarter of 2009, and C&C (US) No. 1, Inc., which we refer to as CapCo, a Delaware corporation in which we acquired a controlling interest through a joint venture with Liberty International Holdings Limited, or LIH, a private company limited by shares organized under the laws of England and Wales, in the first quarter of 2011.

Business Objectives and Strategies

Our principal business objective is to maximize long-term stockholder value by generating sustainable cash flow growth and increasing the long-term value of our real estate assets. Our key strategies for reaching this objective include:

• Operating Strategy: Maximizing the internal growth of revenue from our shopping centers and retail properties by leasing and re-leasing those properties to a diverse group of creditworthy tenants, maintaining our properties to standards that our existing and prospective tenants find attractive, as well as containing costs through effective property management;

• Investment Strategy: Using capital wisely to renovate or redevelop our properties and to acquire and develop additional shopping centers and retail properties in supply constrained suburban and urban communities where expected, risk-adjusted returns meet or exceed our standards as well as by investing in strategic partnerships that minimize operational or other risks; and

• Capital Strategy: Financing our capital requirements with internally generated funds, borrowings under our existing credit facilities, proceeds from selling properties that do not meet our investment criteria and proceeds from institutional partners and the debt and equity capital markets.

Operating Strategy. Our core operating strategy is to maximize rents and maintain high occupancy levels by attracting and retaining a strong and diverse base of tenants, as well as containing costs through effective property management. Many of our properties are located in some of the most densely populated areas of the country, including the metropolitan areas around Miami, Ft. Lauderdale, West Palm Beach, Tampa, Jacksonville and Orlando, Florida, Atlanta, Georgia, Boston, Massachusetts, the greater New York City metropolitan area, and Los Angeles and San Francisco, California.

In order to effectively achieve our operating strategy, we seek to:

• actively manage and maintain the high standards and physical appearance of our assets while maintaining competitive tenant occupancy costs;

• maintain a diverse tenant base in order to limit exposure to any one tenant’s financial condition;

• develop strong, mutually beneficial relationships with creditworthy tenants, particularly our anchor tenants, by consistently meeting or exceeding their expectations;

• maximize rental rates upon the renewal of expiring leases or as we lease space to new tenants while limiting vacancy and down-time;

• evaluate renovation or redevelopment opportunities that will make our properties more attractive for leasing or re-leasing to tenants and that will increase the overall value of our centers;

• take advantage of under-utilized land or existing square footage, or re-configure properties for better uses; and

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• adopt consistent standards and vendor review procedures.

Investment Strategy. Our investment strategy is to deploy capital in high quality investments and projects in our target markets that are expected to generate risk-adjusted returns that exceed our cost of capital. Our target markets consist of California, the northeastern United States, the Washington D.C. metro area, South Florida and Atlanta, Georgia. Our investments primarily fall into one of the following categories:

• re-developing, renovating, expanding, reconfiguring and/or re-tenanting our existing properties;

• selectively acquiring shopping centers that will benefit from our active management and leasing strategies with a focus on supply constrained markets;

• selectively acquiring vacant and occupied land located in supply constrained markets for the purpose of developing new shopping centers to meet the needs of expanding retailers; and

• investing in strategic partnerships in real estate related ventures where we act as a manager and utilize our expertise.

In evaluating potential redevelopment, acquisition and development opportunities for properties, we also consider such factors as:

• the expected returns in relation to our cost of capital, as well as the anticipated risks we will face in achieving the expected returns;

• the current and projected cash flow of the property and the potential to increase that cash flow;

• the tenant mix at the property, tenant sales performance and the creditworthiness of those tenants;

• economic, demographic, regulatory and zoning conditions in the property’s local and regional market;

• competitive conditions in the vicinity of the property, including competition for tenants and the potential that others may create competing properties through redevelopment, new construction or renovation;

• the level and success of our existing investments in the relevant market;

• the current market value of the land, buildings and other improvements and the potential for increasing those market values;

• the physical configuration of the property, its visibility, ease of entry and exit, and availability of parking; and

• the physical condition of the land, buildings and other improvements, including the structural and environmental conditions.

Capital Strategy. We intend to grow and expand our business by using cash flow from operations, borrowing under our existing credit facilities, reinvesting proceeds from selling properties that no longer meet our investment criteria, accessing the capital markets to issue equity and debt or using joint venture arrangements. Our strategy is designed to help us maintain a strong balance sheet and sufficient flexibility to fund our operating and investment activities in a cost-efficient way. Our strategy includes:

• maintaining a prudent level of overall leverage and an appropriate pool of unencumbered properties that is sufficient to support our unsecured borrowings;

• managing our exposure to variable-rate debt;

• taking advantage of market opportunities to refinance existing debt and manage our debt maturity schedule;

• selling properties that no longer fit our investment strategy, that have limited growth potential or that are not a strategic fit within our overall portfolio and redeploying the proceeds elsewhere in our business or to pay down debt; and

• using joint venture arrangements to access less expensive capital, mitigate capital risk, and leverage our existing personnel and internal resources.

Change in Policies

Our board of directors establishes the policies that govern our operating, investment and capital strategies, including, among others, the development, acquisition and disposition of shopping centers, tenant and market focus, debt and equity financing policies, and quarterly distributions to our stockholders. The board may amend these policies at any time without a vote of our stockholders.

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Segment Information

We review operating and financial data for each property on an individual basis; therefore each of our individual properties is a separate operating segment. We have aggregated our operating segments in six reportable segments based primarily upon our method of internal reporting which classifies our operations by geographical area. Our reportable segments by geographical area are as follows: (1) South Florida – including Miami-Dade, Broward and Palm Beach Counties; (2) North Florida – including all of Florida north of Palm Beach County; (3) Southeast – including Georgia, Louisiana, Alabama, Mississippi, North Carolina, South Carolina and Virginia; (4) Northeast – including Connecticut, Maryland, Massachusetts and New York; (5) West Coast – including California and Arizona; and (6) Other/Non-retail – which comprises our non-retail assets. See Note 20 in the consolidated financial statements of this annual report for more information about our business segments and the geographic diversification of our portfolio of properties.

Tax Status

We elected to be taxed as a REIT under the Internal Revenue Code of 1986, as amended (the “Code”), commencing with our taxable year ended December 31, 1995. To qualify as a REIT, we must meet a number of organizational and operational requirements, including a requirement that we currently distribute at least 90% of our REIT taxable income to our stockholders. The difference between net income available to common stockholders for financial reporting purposes and taxable income before dividend deductions relates primarily to temporary differences, such as real estate depreciation and amortization, deduction of deferred compensation and deferral of gains on sold properties utilizing like kind exchanges. Also, at least 95% of our gross income in any year must be derived from qualifying sources. It is our intention to adhere to the organizational and operational requirements to maintain our REIT status. As a REIT, we generally will not be subject to corporate level federal income tax, provided that distributions to our stockholders equal at least the amount of our REIT taxable income as defined under the Code. If we fail to qualify as a REIT in any taxable year, we will be subject to federal income taxes at regular corporate rates (including any applicable alternative minimum tax) and may not be able to qualify as a REIT for four subsequent taxable years. Even if we qualify for taxation as a REIT, we may be subject to state income or franchise taxes in certain states in which some of our properties are located and excise taxes on our undistributed taxable income.

We have elected to treat certain of our subsidiaries as taxable REIT subsidiaries, each of which we refer to as a TRS. In general, a TRS may engage in any real estate business and certain non-real estate businesses, subject to certain limitations under the Code. A TRS is subject to federal and state income taxes. Our investment in certain land parcels, our investment in DIM and certain other real estate and other activities are being conducted through our TRS entities. Our current TRS activities are limited and they have not incurred any significant income taxes to date, but may do so in the future if we dispose of properties.

We own a controlling interest in DIM, which is not a REIT. DIM is not consolidated with us for tax purposes and is subject to U.S. corporate income tax.

Governmental Regulations Affecting Our Properties

We and our properties are subject to a variety of federal, state and local environmental, health, safety and similar laws.

Environmental Regulations. The application of these laws to a specific property depends on a variety of property-specific circumstances, including the current and former uses of the property, the building materials used at the property and the physical layout of the property. Under certain environmental laws, we, as the owner or operator of properties currently or previously owned, may be required to investigate and clean up certain hazardous or toxic substances, asbestos-containing materials, or petroleum product releases at the property. We may also be held liable to a federal, state or local governmental entity or third parties for property damage, injuries resulting from the contamination and for investigation and clean up costs incurred in connection with the contamination, whether or not we knew of, or were responsible for, the contamination. Such costs or liabilities could exceed the value of the affected real estate. The presence of contamination or the failure to remediate contamination may adversely affect our ability to sell or lease real estate or to borrow using the real estate as collateral. We have several properties that will require or are currently undergoing varying levels of environmental remediation as a result of contamination from on-site uses by current or former owners or tenants, such as gas stations or dry cleaners.

Americans with Disabilities Act. Our properties are subject to the Americans with Disabilities Act, or ADA. Under this act, all places of public accommodation are required to comply with federal requirements related to access and use by disabled persons. The act has separate compliance requirements for “public accommodations” and “commercial facilities” that generally require that buildings and services, including restaurants and retail stores, be made accessible and available to people with disabilities. The ADA’s requirements could require removal of access barriers and could result in the imposition of injunctive relief, monetary penalties or, in some cases, an award of damages.

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Although we believe that we are in substantial compliance with existing regulations, including environmental and ADA regulations, we cannot predict the impact of new or changed laws or regulations on properties we currently own or may acquire in the future. Other than as part of our development or redevelopment projects, we have no current plans for substantial capital expenditures with respect to compliance with environmental, health, safety and similar laws, and we carry environmental insurance which covers a number of environmental risks for most of our properties.

Competition

There are numerous commercial developers, real estate companies, REITs and other owners of real estate in the areas in which our properties are located that compete with us with respect to the leasing of our properties and in seeking land for development or properties for acquisition. Some of these competitors have substantially greater resources than we have, although we do not believe that any single competitor or group of competitors in any of the primary markets where our properties are located is dominant in that market. This level of competition may reduce the number of properties available for development or acquisition, increase the cost of development or acquisition or interfere with our ability to attract and retain tenants.

All of our existing properties are located in developed areas that include other shopping centers and other retail properties. The number of retail properties in a particular area could materially adversely affect our ability to lease vacant space and maintain the rents charged at our existing properties. We believe that the principal competitive factors in attracting tenants in our market areas are location, price, anchor tenants and maintenance of properties. Our retail tenants also face competition from other retailers, including internet retailers, outlet stores, super centers and discount shopping clubs. This competition could contribute to lease defaults and insolvency of our tenants.

Tenants

As of December 31, 2012, Publix Super Markets was our largest tenant and accounted for approximately 1.8 million square feet, or approximately 9.9% of our GLA, and approximately $14.5 million, or 5.7%, of our annual minimum rent for 2012.

Employees

Our headquarters are located at 1600 N.E. Miami Gardens Drive, North Miami Beach, Florida 33179. At December 31, 2012, we had 177 full-time employees and we believe that our relationships with our employees are good.

Available Information

The internet address of our website is www.equityone.net. In the "Investors" section of our website under "About Us," you can obtain, free of charge, a copy of our annual report on Form 10-K, our quarterly reports on Form 10-Q, our Supplemental Information Packages, our current reports on Form 8-K, and any amendments to those or other reports filed or furnished pursuant to Section 13(a) or 15(d) of the Exchange Act, as soon as reasonably practicable after we electronically file or furnish such reports or amendments with the SEC. Also available in the corporate governance section of our website (located within the investors section) free of charge, are copies of our Corporate Governance Guidelines, Code of Conduct and Ethics and the charters for our audit committee, compensation committee and nominating and corporate governance committee. We intend to provide any amendments or waivers to our Code of Conduct and Ethics that apply to any of our executive officers or our senior financial officers on our website within four business days following the date of the amendment or waiver. The reference to our website address does not constitute incorporation by reference of the information contained on our website and should not be considered a part of this report.

You may also obtain printed copies of any of the foregoing materials from us, free of charge, by contacting our Investor Relations Department at:

Equity One, Inc.

1600 N.E. Miami Gardens Drive

North Miami Beach, Florida 33179

Attn: Investor Relations Department

(305) 947-1664

You may also read and copy any materials we file with the SEC at the SEC’s Public Reference Room at 100 F Street, NE, Washington, D.C. 20549, or you may obtain information by calling the SEC at 1-800-SEC-0330. The SEC maintains an internet address at http://www.sec.gov that contains reports, proxy statements and information statements, and other information which you may obtain free of charge.

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ITEM 1A. RISK FACTORS

This annual report on Form 10-K and the information incorporated by reference herein contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts are forward-looking statements and can be identified by the use of forward-looking terminology such as “may,” “will,” “might,” “would,” “expect,” “anticipate,” “estimate,” “could,” “should,” “believe,” “intend,” “project,” “forecast,” “target,” “plan,” or “continue” or the negative of these words or other variations or comparable terminology. Forward-looking statements are subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Some specific risk factors that could impair forward looking statements are set forth below.

These risks factors are not exhaustive. Other sections of this report may include additional factors that could adversely affect our business and financial performance. Moreover, we operate in a very competitive and rapidly changing environment. New risk factors emerge from time to time and it is not possible for us to predict all risk factors, nor can we assess the impact of all risk factors on our business or the extent to which any factor, or combination of factors, may affect our business. Investors should also refer to our quarterly reports on Form 10-Q and current reports on Form 8-K for future periods for updates to these risk factors.

Shorter term expirations of our tenants may lead to increased vacancies and reduced rental income which would have an adverse effect on our future results of operations.

From 2013 through 2015, approximately 34.5% of our leases, based on annualized minimum rents, with tenants are due to expire. The annualized minimum rents at expiration for these leases are $25.5 million, $28.7 million, and $27.2 million for 2013-2015, respectively. Additionally, approximately 2.7% of our leases are month-to-month, representing $6.4 million of annualized rents. Our ability to renew or replace these tenants at comparable rents could have a significant impact on our future results of operations.

We may not be able to re-lease vacated space and, if we are able to re-lease vacated space, there is no assurance that rental rates will be equal to or in excess of current rental rates. In addition, we may incur substantial costs in obtaining new tenants, including brokerage commissions paid by us in connection with new leases or lease renewals, and the cost of making leasehold improvements. All of these events and factors could adversely affect our results of operations.

We are dependent upon certain key tenants, and decisions made by these tenants or adverse developments in the business of these tenants could have a negative impact on our financial condition.

We own shopping centers which are supported by “anchor” tenants which, due to size, reputation or other factors, are particularly responsible for drawing other tenants and shoppers to our centers. As of December 31, 2012, Publix Super Markets was our largest tenant and accounted for approximately 1.8 million square feet, or approximately 9.9% of our GLA, and approximately $14.5 million, or 5.7%, of our annual minimum rent for 2012. No other tenant accounted for over 5.0% of our annual minimum rent.

In addition, an anchor tenant may decide that a particular store is unprofitable and close its operations in our center, and, while the tenant may continue to make rental payments, such a failure to occupy its premises could have an adverse effect on the property. A lease termination by an anchor tenant or a failure by that anchor tenant to occupy the premises could result in lease terminations or reductions in rent by other tenants in the same shopping center if their leases have “co-tenancy” clauses which permit cancellation or rent reduction if an anchor tenant’s lease is terminated or the anchor “goes dark.” Vacated anchor tenant space also tends to adversely affect the entire shopping center because of the loss of the departed anchor tenant’s power to draw customers to the center. We cannot provide any assurance that we would be able to quickly re-lease vacant space on favorable terms, if at all. Any of these developments could adversely affect our financial condition or results of operations.

Local economic conditions have posed significant challenges to certain of our smaller tenants and future changes in market conditions may make it more difficult to lease vacant space.

Our goal is to improve the performance of our properties by re-leasing vacated space. While economic conditions have generally improved over the past two years, many of our smaller tenants have continued to struggle in the face of reduced access to capital and declining sales resulting from an overabundance of nearby competition and localized changes in demographics and economic conditions. This is particularly true of our smaller shop tenants (those occupying less than 10,000 square feet) located in less densely populated areas in the Southeast and Northern and Central Florida. As a result, some of these tenants have requested rent adjustments and abatements, while other tenants have not been able to continue in business at all.

Our ability to continue to lease or re-lease vacant space in our properties will continue to be affected by these factors and any future changes in local and macro-economic conditions. If the demographics (mainly number of households and their incomes) surrounding our properties were to weaken or consumer confidence were to decline, the value of our properties and their results

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of operations could be adversely affected with lower occupancy and higher bad debt expense as tenants fail to pay rent, close their stores or file bankruptcy.

Some of our tenants are omnichannel retailers and face increasing competition from non-store retailers.

Our tenants face increasing competition from non-store retailers and growing e-commerce. As a result, some of our regional and national tenants are actively pruning their store base in order to identify and retain only their most productive locations. In addition, some of these retailers are seeking to reduce their store sizes as they increasingly rely on alternative distribution channels, including internet sales, and adjust their square footage needs accordingly. In some cases, this increased competition could cause undercapitalized tenants to default on their lease obligations and to seek bankruptcy protection. In general, these trends have lessened the demand for retail space and have reduced our ability to increase rental rates for some of our properties, especially those located in less densely populated areas of the country.

We may be unable to collect balances due from tenants that file for bankruptcy protection.

If a tenant or lease guarantor files for bankruptcy, we may not be able to collect all pre-bankruptcy amounts owed by that party. In addition, a tenant that files for bankruptcy protection may terminate its lease with us, in which event we would have a general unsecured claim against such tenant that would likely be worth less than the full amount owed to us for the remainder of the lease term, which could adversely affect our financial condition and results of operations.

Loss of our key personnel could adversely affect the value of our common stock and operations.

We are dependent on the efforts of our key executive personnel. Although we believe qualified replacements could be found for these key executives, the loss of their services could adversely affect the value of our common stock and operations.

Volatility in the credit markets may affect our ability to obtain or re-finance our indebtedness at a reasonable cost.

As of December 31, 2012, we had approximately $373.0 million of unsecured senior notes and mortgage debt scheduled to mature in the next three years. Additionally, our $575.0 million unsecured revolving credit facility matures on September 30, 2015 with a one year extension at our option. If credit conditions worsen or if interest rates increase from their current historically low levels, we may experience difficulty refinancing these upcoming loan maturities at a reasonable cost or with desired financing alternatives. For example, it may be hard to raise new unsecured financing in the form of additional bank debt or corporate bonds at interest rates that are appropriate for our long term objectives. If we draw under our existing unsecured revolving line of credit to repay maturing debt, our ability to use the line for other uses such as investments will be reduced. If we increase our reliance on mortgage debt, the credit rating agencies that rate our unsecured corporate debt may reduce our investment-grade credit ratings. Alternatively, we may need to repay maturing debt with proceeds from the issuance of equity or the sale of assets. In addition, lenders may impose more restrictive covenants, events of default and other conditions.

We have substantial debt obligations which may reduce our operating performance and put us at a competitive disadvantage.

As of December 31, 2012, we had debt outstanding in the aggregate amount of approximately $1.6 billion. Many of our loans require scheduled principal amortization. In addition, our organizational documents do not limit the level or amount of debt that we may incur, nor do we have a policy limiting our debt to any particular level. The amount of our debt outstanding from time to time could have important consequences to our stockholders. For example, it could:

• require us to dedicate a substantial portion of our cash flow from operations to payments on our debt, thereby reducing funds available for operations, property acquisitions, developments and redevelopments and other appropriate business opportunities that may arise in the future;

• limit our ability to make distributions on our outstanding shares of our common stock, including the payment of dividends required to maintain our status as a REIT;

• make it difficult to satisfy our debt service requirements;

• limit our flexibility in planning for, or reacting to, changes in our business and the factors that affect the profitability of our business, which may place us at a disadvantage compared to competitors with less debt or debt with less restrictive terms;

• adversely affect financial ratios and operational coverage levels monitored by rating agencies and adversely affect the ratings assigned to our unsecured debt;

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• limit our ability to obtain any additional debt or equity financing we may need in the future for working capital, debt refinancing, capital expenditures, acquisitions, redevelopment, new developments or other general corporate purposes or to obtain such financing on favorable terms; and

• require us to dedicate increased amounts of our cash flow from operations to payments on our variable rate, unhedged debt if interest rates rise.

If our internally generated cash is inadequate to repay our indebtedness upon maturity, then we will be required to repay debt through refinancing or equity offerings. If we are unable to refinance our indebtedness on acceptable terms, or at all, we might be forced to dispose of one or more of our properties, potentially upon disadvantageous terms, which might result in losses and might adversely affect our cash available for distribution. If prevailing interest rates or other factors at the time of refinancing result in higher interest rates on refinancing, our interest expense would increase which may not be offset by a corresponding increase in our rental rates, which would adversely affect our results of operations. Further, if one of our properties is mortgaged to secure payment of indebtedness and we are unable to meet mortgage payments, or if we are in default under the related mortgage or deed of trust, such property could be transferred to the mortgagee, or the mortgagee could foreclose upon the property, appoint a receiver and receive an assignment of rents and leases or pursue other remedies, all with a consequent loss of income and asset value. Foreclosure could also create taxable income without accompanying cash proceeds, thereby hindering our ability to meet the REIT distribution requirements under the Code.

Our financial covenants may restrict our operating or acquisition activities, which may harm our financial condition and operating results.

Our unsecured revolving credit facility, our unsecured term loan, our outstanding unsecured senior notes and much of our existing mortgage indebtedness contain customary covenants and conditions, including, among others, compliance with various financial ratios and restrictions upon the incurrence of additional indebtedness and liens on our properties. Furthermore, the terms of some of this indebtedness will restrict our ability to consummate transactions that result in a change of control or to otherwise issue equity or debt securities. The existing mortgages also contain customary negative covenants such as those that limit our ability, without the prior consent of the lender, to further mortgage the applicable property or to discontinue insurance coverage. If we were to breach covenants in these debt agreements, the lender could declare a default and require us to repay the debt immediately. If we fail to make such repayment in a timely manner, the lender may be entitled to take possession of any property securing the loan. If the lenders declared a default under our unsecured revolving credit facility, all amounts outstanding would become due and payable and our ability to borrow in future periods could be restricted. In addition, any such default would constitute a cross default under our unsecured senior note indebtedness and unsecured term loan giving rise to the acceleration of such indebtedness.

Increases in interest rates would cause our borrowing costs to rise and generally adversely affect the market price of our securities.

While we had approximately $1.2 billion of fixed interest rate debt outstanding as of December 31, 2012, we also borrow funds at variable interest rates under our lines of credit and could borrow under other variable facilities in the future. Increases in interest rates would increase our interest expense on any variable rate debt, as well as interest expense with respect to maturing fixed rate debt that must be refinanced at higher interest rates. This would reduce our future earnings and cash flows, which could adversely affect our ability to service our debt and meet our other obligations and also could reduce the amount we are able to distribute to our stockholders.

In addition, the market price of our common stock is affected by the annual distribution rate on the shares of our common stock. An increase in market interest rates relative to our annual dividend rate may lead prospective purchasers of our common stock and other securities to seek alternative investments that offer a higher annual yield which would likely adversely affect the market price of our common stock and other securities. Finally, increases in interest rates may have the effect of depressing the market value of retail properties such as ours, including the value of those properties securing our indebtedness. Such declines in the market value of our properties would likely adversely affect the market price of our common stock and other securities.

Geographic concentration of our properties makes our business vulnerable to economic downturns in certain regions or to other events, like hurricanes and earthquakes that disproportionately affect those areas.

As of December 31, 2012, approximately 47.5%, 13.8%, 12.3%, 8.0% and 10.3% of our consolidated retail property GLA was located in Florida, Georgia, California, Louisiana and the northeastern United States, respectively. Our key development and redevelopment projects are also primarily located in these regions. As a result, economic, real estate and other general conditions in these regions will significantly affect our revenue and the value of our properties. Business layoffs or downsizing, industry slowdowns, declines in real estate values, changing demographics, increases in insurance costs and real estate taxes and other factors may adversely affect the economic climate in Florida, Georgia, California, Louisiana and the northeastern United States.

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Any resulting reduction in demand for retail properties in these markets would adversely affect our operating performance and limit our ability to make distributions to stockholders.

In addition, a significant portion of our consolidated retail property GLA is located in coastal or other areas that are susceptible to the harmful effects of tropical storms, hurricanes, earthquakes and other similar natural or man-made disasters. As of December 31, 2012, over 42% of the total insured value of our portfolio is located in the State of Florida. Additionally, 13% of the total insured value of our portfolio is located in the northeastern United States, which is also prone to strong tropical storms and hurricanes. These properties are also prone to severe winter storms, including blizzards. Intense hurricanes and tropical storm activity during the last decade has caused our cost of property insurance to increase significantly. While much of the cost of this insurance is passed on to our tenants as reimbursable property costs, some tenants, particularly national tenants, do not pay a pro rata share of these costs under their leases. Hurricanes and similar storms also disrupt our business and the business of our tenants, which could affect the ability of some tenants to pay rent and may reduce the willingness of residents to remain in or move to the affected area.

In addition, as of December 31, 2012, over 24% of the total insured value of our portfolio is located in the State of California, including a number of assets in the San Francisco Bay and Los Angeles areas. These properties may be subject to the risk that an earthquake or other, similar peril would affect the operations of these properties. Our insurance coverage with respect to these perils is significantly less than the full replacement costs of these assets. Therefore, if an earthquake did occur and our properties were affected, we would bear the losses resulting therefrom.

Therefore, as a result of the geographic concentration of our properties, we face demonstrable risks, including higher costs, such as uninsured property losses and higher insurance premiums, and disruptions to our business and the businesses of our tenants.

Our insurance coverage on our properties may be inadequate therefore increasing the risks to our business.

We currently carry comprehensive insurance on all of our properties, including insurance for liability, fire, flood, rental loss and acts of terrorism; however, we currently do not carry coverage for losses from earthquakes or other, similar perils. We also currently carry environmental insurance on most of our properties. All of these policies contain coverage limitations. We believe these coverages are of the types and amounts customarily obtained for or by an owner of similar types of real property assets located in the areas where our properties are located. We intend to obtain similar insurance coverage on subsequently acquired properties.

The availability of insurance coverage may decrease and the prices for insurance may increase as a consequence of significant losses incurred by the insurance industry. In the event of future industry losses, we may be unable to renew or duplicate our current insurance coverage in amounts we deem adequate or at reasonable prices. In addition, insurance companies may no longer offer coverage against certain types of losses, such as losses from named wind storms, earthquakes or due to terrorist acts and toxic mold, or, if offered, the cost of obtaining these types of insurance may not be commercially justified. We, therefore, may cease to have insurance coverage against certain types of losses and/or there may be decreases in the covered loss limits of insurance available.

If an uninsured loss or a loss in excess of our insured limits occurs, we could lose all or a portion of the capital we have invested in a property, as well as the anticipated future revenue from the property, but still remain obligated for any mortgage debt or other financial obligations related to the property. We cannot guarantee that material losses in excess of insurance proceeds will not occur in the future. If any of our properties were to experience a catastrophic loss, it could disrupt our operations, delay revenue and result in large expenses to repair or rebuild the property. Also, due to inflation, changes in codes and ordinances, environmental considerations and other factors, it may not be feasible to use insurance proceeds to replace a building after it has been damaged or destroyed or the proceeds could be insufficient. Events such as these could adversely affect our results of operations and our ability to meet our obligations, including distributions to our stockholders.

We may be unable to sell properties in accordance with our business plan which could reduce our available capital or require us to hold non-core assets longer than we deem desirable.

In general, we intend to sell certain assets over time as part of our capital recycling efforts and as assets no longer meet our investment criteria. However, real estate investments generally cannot be sold quickly. Also, there are limitations under federal income tax laws applicable to real estate and to REITs in particular that may limit our ability to sell our assets without incurring adverse tax and other consequences. As a result, we may not be able to effectuate our capital recycling plans or alter our portfolio promptly in response to changes in economic or other conditions. Our inability to effectuate our capital recycling strategy or respond quickly to changes in the performance of our investments could adversely affect our ability to meet our obligations and make distributions to our stockholders.

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Our assets may be subject to impairment charges.

Our long-lived assets, including real estate held for investment, are carried at net book value unless circumstances indicate that the carrying value of the assets may not be recoverable. Our properties are reviewed for impairment if events or changes in circumstances indicate that the carrying amount of the property may not be recoverable. When assets are identified as held for sale, we estimate the sales prices, net of selling costs, of such assets. Assets that will be sold together in a single transaction are aggregated in determining if the net sales proceeds of the group are expected to be less than the net book value of the assets. If, in our opinion, the net sales prices of the assets which have been identified for sale are expected to be less than the net book value of the assets, an impairment charge is recorded and we write down the asset to fair value. An impairment charge may also be recorded for any asset if it is probable, in our estimation, that the aggregate future cash flows (undiscounted and without interest charges) to be generated by the property are less than the carrying value of the property. In addition, we may be required to test for impairment when we perform periodic valuations of our properties in accordance with International Financial Reporting Standards under our agreement with our largest stockholder, Gazit-Globe, Ltd. ("Gazit"). We also perform an annual test of our goodwill for impairment and perform periodic evaluations for impairment of our investments in unconsolidated entities such as joint ventures. Recording an impairment charge results in an immediate reduction in our income and therefore could have a material adverse effect on our results of operations and financial condition in the period in which the charge is taken.

Our development and redevelopment activities are inherently risky and may not yield anticipated returns, which would harm our operating results and reduce funds available for distributions to stockholders.

An important component of our growth and investment strategy is the redevelopment of properties within our portfolio and the development of new shopping centers, including The Gallery at Westbury Plaza in Nassau County, New York, Broadway Plaza in the Bronx, New York and Serramonte Shopping Center in Daly City, California. At December 31, 2012, we had invested an aggregate of approximately $169.6 million in active development or redevelopment projects at various stages of completion and based on our current plans and estimates we anticipate that these projects will require an additional $91.5 million to complete, including $75.7 million to complete The Gallery at Westbury Plaza, Broadway Plaza and our previously announced expansion plans at Serramonte Shopping Center. In addition to these costs, we may expend substantial amounts in the future in connection with the further redevelopment of Serramonte Shopping Center, and we are actively seeking additional significant development and redevelopment opportunities in our target markets. These developments and redevelopments may not be as successful as currently expected. Expansion, renovation and development projects entail the following considerable risks:

• significant time lag between commencement and completion subjects us to greater risks due to fluctuations in the general economy;

• failure or inability to obtain construction or permanent financing on favorable terms;

• expenditure of money and time on projects that may never be completed;

• inability to achieve projected rental rates or anticipated pace of lease-up;

• higher-than-estimated construction costs, including labor and material costs; and

• possible delay in completion of the project because of a number of factors, including weather, labor disruptions, construction delays or delays in receipt of zoning or other regulatory approvals, or man-made or natural disasters (such as fires, hurricanes, earthquakes or floods).

In addition, in some instances we purchase underutilized land in urban areas from municipalities and development authorities pursuant to purchase agreements which give the municipality the right to reclaim the property for little or no consideration in the event we do not commence or complete construction in a timely or acceptable manner. Should they occur, these risks could adversely affect the investment returns from our development and redevelopment projects and harm our operating results.

Future acquisitions may not yield the returns expected, may result in disruptions to our business, may strain management resources and may result in earnings per share and stockholder dilution.

Our investing strategy and our market selection process may not ultimately be successful and may not provide positive returns on our investment. The acquisition of properties or portfolios of properties entails risks that include the following, any of which could adversely affect our results of operations and our ability to meet our obligations:

• we may not be able to identify suitable properties to acquire or may be unable to complete the acquisition of the properties we identify, even after making a non refundable deposit or incurring significant acquisition related costs;

• we may not be able to integrate any acquisitions into our existing operations successfully;

• properties we acquire may fail to achieve the occupancy or rental rates we project at the time we make the decision to acquire, which may result in the properties’ failure to achieve the returns we projected;

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• our pre-acquisition evaluation of the physical condition of each new investment may not detect certain defects or identify necessary repairs, which could significantly increase our total acquisition costs; and

• our investigation of a property or building prior to our acquisition, and any representations we may receive from the seller of such building or property, may fail to reveal various liabilities (such as to tenants or vendors or with respect to environmental contamination), which could reduce the cash flow from the property or increase our acquisition cost.

In addition, as part of our investing and capital strategy, we plan to sell assets that no longer meet our investment criteria and reinvest those proceeds in other parts of our business, including in the acquisition of higher quality properties in our target markets and the development and redevelopment of our properties, or use the proceeds to pay down debt. While we hope to minimize the dilutive effect of this strategy on our earnings, in the near term the returns on the assets we seek to dispose are likely to exceed returns on the assets we subsequently acquire or develop which could have the effect of reducing our income and materially and adversely affecting our results of operations and financial condition. Finally, if we acquire a business, we will be required to integrate the operations, personnel and accounting and information systems of the acquired business and train, retain and motivate any key personnel from the acquired business. In addition, acquisitions of or investments in companies may cause disruptions in our operations and divert management’s attention away from day-to-day operations, which could impair our relationships with our current tenants and employees. The issuance of equity or debt securities in connection with any acquisition or investment could be substantially dilutive to our stockholders.

Our ability to grow will be limited if we cannot obtain additional capital.

Our growth strategy is focused on the redevelopment of properties we already own and the acquisition and development of additional properties. We believe that it will be difficult to fund our expected growth with cash from operating activities because, in addition to other requirements, we are required to distribute to our stockholders at least 90% of our REIT taxable income (excluding net capital gains) each year to continue to qualify as a REIT for federal income tax purposes. As a result, we must rely primarily upon the availability of debt or equity capital, which may or may not be available on favorable terms or at all. The debt could include mortgage or unsecured loans from third parties or the sale of debt securities. Equity capital could include shares of our common stock or preferred stock. We cannot guarantee that additional financing, refinancing or other capital will be available in the amounts we desire or on favorable terms. Our access to debt or equity capital depends on a number of factors, including the general availability of credit in the capital markets, the market’s perception of our growth potential, our ability to pay dividends, our financial condition, our credit ratings and our current and potential future earnings. Depending on the outcome of these factors, we could experience delay or difficulty in implementing our growth strategy on satisfactory terms, or we may be unable to implement this strategy at all. See the Risk Factor entitled “Volatility in the credit markets may affect our ability to obtain or re-finance our indebtedness at a reasonable cost.”

Property ownership through joint ventures could limit our control of those investments and reduce our expected returns.

We have invested in some cases as a partner or co-venturer in properties. Real estate partnership or joint venture investments may involve risks not otherwise present for investments made solely by us, including the possibility that our partners or co-venturers might become bankrupt, that our partners or co-venturers might at any time have different interests or goals than we do, that our partners or co-venturers might fail to provide capital and fulfill their obligations, which may result in certain liabilities to us for guarantees and other commitments, and that our partners or co-venturers may take actions or fail to take actions contrary to our instructions, requests, policies or objectives. Other risks of joint venture investments could include an impasse on decisions, such as sales of the ventures or their properties, because neither our partners or co-venturers nor we would have full control over the involved partnerships or joint ventures. In other cases, our partners or co-venturers may have the power to cause the involved partnership or joint venture to take or refrain from taking actions contrary to our desires. In addition, our lenders may not be easily able to sell our joint venture assets and investments or view them less favorably as collateral, which could negatively affect our liquidity and capital resources. These factors could limit the return that we receive from those investments or cause our cash flows to be lower than our estimates.

Our activity level places significant demands on our operational, administrative and financial resources.

We continue to pursue extensive capital recycling and growth opportunities through a combination of acquisitions, dispositions and joint venture opportunities, some of which have complicated structures. This activity level and complexity places significant demands on our operational, administrative and financial resources. Our future performance will depend in part on our ability to successfully identify, attract and retain qualified personnel to support and manage the transformation, growth and complexity of our business, including successfully integrating new acquisitions into our operating platform. Obtaining sufficient personnel and other resources may increase our expenses, including general and administrative expense. In the event we have insufficient resources to support the growth and complexity in our business, we may fail to properly structure or account for the financial or tax aspects

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of our transactions or satisfy obligations owed to transaction counterparties, thereby impacting our qualification as a REIT or our financial results.

Competition for the acquisition of assets and the leasing of properties may adversely impact our future operating performance, our growth plans, and stockholder returns.

Numerous commercial developers and real estate companies compete with us in seeking tenants for our existing properties and properties for acquisition, particularly in our target markets. This competition may affect us in various ways, including:

• reducing properties available for acquisition;

• increasing the cost of properties we acquire;

• reducing the rate of return on these properties;

• reducing rents payable to us;

• interfering with our ability to attract and retain tenants;

• increasing vacancy rates at our properties; and

• adversely affecting our ability to minimize expenses of operation.

In addition, tenants and potential acquisition targets may find competitors to be more attractive because they may have greater resources, broader geographic diversity, may be willing to pay more or offer greater lease incentives or may have a more compatible operating philosophy. In particular, larger REITs may enjoy significant competitive advantages that result from, among other things, a lower cost of capital and enhanced operating efficiencies. These competitive factors may adversely affect our profitability, and our stockholders may experience a lower return on their investment.

We may be subjected to liability for environmental contamination which might have a material adverse impact on our financial condition and results of operations.

As an owner and operator of real estate and real estate-related facilities, we may be liable for the costs of removal or remediation of hazardous or toxic substances present at, on, under, in or released from our properties, as well as for governmental fines and damages for injuries to persons and property. We may be liable without regard to whether we knew of, or were responsible for, the environmental contamination and with respect to properties we have acquired, whether the contamination occurred before or after the acquisition. We have several properties in our portfolio that will require or are currently undergoing varying levels of environmental remediation. The presence of contamination or the failure to properly remediate contamination at any of our properties may adversely affect our ability to sell or lease those properties or to borrow funds by using those properties as collateral. The costs or liabilities could exceed the value of the affected real estate. Although we have environmental insurance policies covering most of our properties, environmental conditions known at the time of acquisition are typically excluded from coverage, and there is no assurance that these policies will cover any or all of the potential losses or damages from environmental contamination; therefore, any liability, fine or damage could directly impact our financial results.

We may experience adverse consequences in the event we fail to qualify as a REIT.

Although we believe that we are organized and have operated so as to qualify as a REIT under the Code since our REIT election in 1995, no assurance can be given that we have qualified or will remain so qualified. In addition, no assurance can be given that new legislation, regulations, administrative interpretations or court decisions will not significantly change the tax laws with respect to qualification as a REIT or the federal income tax consequences of such qualification.

Qualification as a REIT involves the application of highly technical and complex provisions of the Code for which there are often only limited judicial and administrative interpretations. These provisions include requirements concerning, among other things, the ownership of our outstanding common stock, the nature of our assets, the nature and sources of our income, and the amount of our distributions to our stockholders. The determination of various factual matters and circumstances not entirely within our control may affect our ability to qualify as a REIT. For example, in order to qualify as a REIT, at least 95% of our gross income in any year must be derived from qualifying sources. Satisfying this requirement could be difficult, for example, if defaults by tenants were to reduce the amount of income from qualifying rents or if the structure of one of our joint ventures or other investments fails to yield qualifying income. In addition, we must make distributions to stockholders aggregating annually at least 90% of our REIT taxable income, excluding net capital gains. To the extent we satisfy the 90% distribution requirement, but distribute less than 100% of our taxable income, we will be subject to federal corporate income tax on our undistributed income. In addition, we will incur a 4% nondeductible excise tax on the amount, if any, by which our distributions (or deemed distributions) in any year are less than the sum of 85% of our ordinary income for that year, 95% of our capital gain net earnings for that year and 100% of our undistributed taxable income from prior years. We intend to make distributions to our stockholders to comply with the

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distribution provisions of the Code. Although we anticipate that our cash flows from operating activities and our ability to borrow under our existing credit facilities will enable us to pay our operating expenses and meet distribution requirements, no assurance can be given in this regard. We may be required to sell assets to distribute enough of our taxable income to satisfy the distribution requirement and to avoid corporate income tax.

In addition, the federal income tax provisions applicable to REITs provide that any gain realized by a REIT on the sale of property held as inventory or other property held primarily for sale to customers in the ordinary course of business is treated as income from a “prohibited transaction” that is subject to a 100% penalty tax. Under current law, unless a sale of real property qualifies for a safe harbor, the question of whether the sale of a property constitutes the sale of property held primarily for sale to customers is generally a question of the facts and circumstances regarding a particular transaction. We intend to hold our properties for investment with a view to long-term appreciation, to engage in the business of acquiring and owning properties and to make sales as are consistent with our investment objectives. Although we do not intend to engage in prohibited transactions, it is possible that our dispositions may not qualify for safe harbor treatment. Accordingly, we cannot assure you that we will only make sales that satisfy the requirements of the safe harbors or that the IRS will not successfully assert that one or more of our sales are prohibited transactions. In addition, the sale of our properties may generate gains for tax purposes which, if not adequately sheltered through “like kind exchanges” under Section 1031 of the Code, could require us to make additional distributions to our stockholders, thus reducing our capital available for investment in other properties, or if the proceeds of such sales are already invested in other properties, require us to obtain additional funds to make such distributions, in either such case to permit us to maintain our status as a REIT.

If we fail to qualify as a REIT:

• we would not be allowed a deduction for distributions to stockholders in computing taxable income, and therefore our taxable income or alternative minimum taxable income so computed would be fully subject to the regular federal income tax or the federal alternative minimum tax;

• unless we are entitled to relief under specific statutory provisions, we could not elect to be taxed as a REIT again for the four taxable years following the year during which we were disqualified;

• we could be required to pay significant income taxes, which would substantially reduce the funds available for investment or for distribution to our stockholders for each year in which we failed or were not permitted to qualify; and

• the tax laws would no longer require us to pay any distributions to our stockholders.

In addition, CapCo elected to be treated as a REIT under the Code in 2007 and we have operated CapCo so as to qualify as a REIT since we acquired a controlling interest in it through a joint venture with LIH in January 2011. In addition to the considerations and risks cited above with respect to qualification as a REIT generally, in the event that CapCo's qualification as a REIT since January 2011 has not been maintained or if we fail to maintain CapCo's qualification as a REIT in the future, our own REIT qualification could be in jeopardy and we could incur significant liability to LIH pursuant to the joint venture documents governing that transaction. We could also incur significant liability to LIH if we fail to comply with certain other covenants under those joint venture documents and, as a result, LIH incurs U.S. federal income tax liability under the Foreign Investment in Real Property Tax Act, or FIRPTA, provisions of the Code.

We are subject to other tax liabilities.

Even if we qualify as a REIT, we are subject to some federal, state and local taxes on our income and property that could reduce operating cash flow. For example, we will pay tax on certain types of income that are not distributed, and will be subject to a 100% excise tax on transactions with a TRS that are not conducted on an arms-length basis. In addition, our TRSs are subject to foreign, federal, state and local taxes.

Our mezzanine debt investments involve a greater risk of loss than investments in conventional mortgage debt.

As of December 31, 2012, we hold a mezzanine loan receivable with a carrying amount of $45.2 million. Mezzanine debt investments involve a higher degree of risk than investments in conventional mortgage debt due to a variety of factors, including that such investments are subordinate to mortgage financing and are not directly secured by the property underlying the investment. Should the borrower default on our mezzanine loan, we would only be able to proceed against the entity which issued the mezzanine loan, and not the property underlying our investment or the owner thereof. Such collection efforts may entail costly negotiations or litigation with the borrower, the senior mortgage lender or both. Furthermore, in the event of default by the borrower under the mortgage loan, we may need to make cure payments to the mortgage lender in order to protect our rights and investment. In these cases, the total amount we recover may be less than our total investment, resulting in a loss.

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Our Chairman of the Board and his affiliates are beneficial owners of approximately 46.0% of our common stock and exercise significant control over our company and may delay, defer or prevent us from taking actions that would be beneficial to our other stockholders.

As of December 31, 2012, Chaim Katzman, the chairman of our board of directors, beneficially owned approximately 46.0% of the outstanding shares of our common stock. Accordingly, Mr. Katzman is able to exercise significant influence over the outcome of substantially all matters required to be submitted to our stockholders for approval, including decisions relating to the election of our board of directors and the determination of our day-to-day corporate and management policies. In addition, Mr. Katzman is able to exercise significant influence over the outcome of any proposed merger or consolidation of our company which, under our charter, requires the affirmative vote of the holders of a majority of the outstanding shares of our common stock. Mr. Katzman’s ownership interest in our company may discourage third parties from seeking to acquire control of our company which may adversely affect the market price of our common stock.

We provide our principal stockholder with reconciliations of our financial statements to International Financial Reporting Standards.

We are party to an agreement with Gazit pursuant to which we are obligated to provide it with quarterly and annual reconciliations of our financial statements, which are prepared in accordance with generally accepted accounting principles in the United States, to International Financial Reporting Standards, or IFRS, so that Gazit may consolidate our results in its financial reporting. Pursuant to this agreement, Gazit reimburses us for internal and third-party expenses incurred by us in connection with the preparation of these unaudited reconciliations, including the performance of certain procedures with respect to these reconciliations performed by our independent certified public accountants. Neither we nor the members of our board of directors or audit committee are experts with respect to IFRS and we are subject to the risk that we may incur liability to Gazit or its stockholders in the event of inaccuracies in our preparation of these reconciliations, which could adversely affect our financial condition and results of operations.

To maintain our status as a REIT, we limit the amount of shares any one stockholder can own.

The Code imposes certain limitations on the ownership of the stock of a REIT. For example, not more than 50% in value of our outstanding shares of capital stock may be owned, actually or constructively, by five or fewer individuals (as defined in the Code). To protect our REIT status, our charter provides that, subject to certain exceptions, no person may own, or be deemed to own, directly and by virtue of the constructive ownership provisions of the Code, more than 9.9% (or 5.0% in the case of an “individual”) in value of the aggregate outstanding shares of our capital stock or more than 9.9% (or 5.0% in the case of an “individual”), in value or number of shares, whichever is more restrictive, of the outstanding shares of our common stock. The constructive ownership rules are complex. Shares of our capital stock owned, actually or constructively, by a group of related individuals and/or entities may be treated as constructively owned by one of those individuals or entities. As a result, the acquisition of less than 5.0% or 9.9%, as applicable, in value of the outstanding common stock and/or a class or series of preferred stock (or the acquisition of an interest in an entity that owns common stock or preferred stock) by an individual or entity could cause that individual or entity (or another) to own constructively more than 5.0% or 9.9%, as applicable, in value of the outstanding stock. If that happened, either the transfer or ownership would be void or the shares would be transferred to a charitable trust and then sold to someone who can own those shares without violating the 5.0% or 9.9% ownership limit, as applicable. Our board of directors may waive the REIT ownership restrictions on a case-by-case basis, and it has in the past done so, including for Chaim Katzman, our chairman of the board, and his affiliates, and for LIH and its affiliates. Our charter also provides that, subject to certain exceptions, a foreign person may not acquire, beneficially or constructively, any shares of our capital stock, if immediately following the acquisition of such shares, the fair market value of the shares of our capital stock owned, directly and indirectly, by all foreign persons (other than LIH and its affiliates) would comprise 29% or more of the fair market value of the issued and outstanding shares of our capital stock. This 29% limit is intended to ensure that CapCo, one of our subsidiaries, will qualify as a "domestically controlled" REIT. The foregoing ownership restrictions may delay, defer or prevent a transaction or a change of control that might involve a premium price for our common stock or otherwise be in the stockholders’ best interest.

We cannot assure you we will continue to pay dividends at current rates.

Our ability to continue to pay dividends on our common stock at current rates or to increase our common stock dividend rate will depend on a number of factors, including, among others, the following:

• our financial condition and results of future operations;

• the ability of our tenants to perform in accordance with the lease terms;

• the terms of our loan covenants; and

• our ability to acquire, finance, develop or redevelop and lease additional properties at attractive rates.

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If we do not maintain or increase the dividend rate on our common stock, there could be an adverse effect on the market price of our common stock. Conversely, the payment of dividends on our common stock may be subject to payment in full of the interest on debt we may owe.

Our organizational documents contain provisions which may discourage the takeover of our company, may make removal of our management more difficult and may depress our stock price.

Our organizational documents contain provisions that may have an anti-takeover effect and inhibit a change in our management. As a result, these provisions could prevent our stockholders from receiving a premium for their shares of common stock above the prevailing market prices. These provisions include:

• the REIT and foreign ownership limits described above;

• the ability to issue preferred stock with the powers, preferences or rights determined by our board of directors;

• special meetings of our stockholders may be called only by the board of directors, the chairman of the board, the chief executive officer, the president or by the corporate secretary at the direction of stockholders entitled to cast not less than a majority of all votes entitled to be cast at such meeting;

• advance notice requirements for stockholder proposals;

• the absence of cumulative voting rights; and

• provisions relating to the removal of incumbent directors.

Finally, Maryland law also contains several statutes that restrict mergers and other business combinations with an interested stockholder or that may otherwise have the effect of preventing or delaying a change of control.

Dividends paid by REITs generally do not qualify for reduced tax rates.

In general, the maximum U.S. federal income tax rate for “Qualified dividends” paid by regular “C” corporations to U.S. shareholders that are individuals, trusts and estates beginning after December 31, 2012 is 20% and a new Medicare tax of 3.8% may also apply if income is greater than certain specified amounts. Subject to limited exceptions, dividends paid by REITs (other than distributions designated as capital gain dividends or returns of capital) are not eligible for these reduced rates and are taxable at ordinary income tax rates. The more favorable rates applicable to regular corporate qualified dividends could cause investors who are individuals, trusts and estates to perceive investments in REITs to be relatively less attractive than investments in the stocks of non-REIT corporations that pay dividends, which could adversely affect the value of the shares of REITs, including the shares of our capital stock.

Foreign stockholders may be subject to U.S. federal income tax on gain recognized on a disposition of our common stock if we do not qualify as a "domestically controlled" REIT.

A foreign person disposing of a U.S. real property interest, including shares of a U.S. corporation whose assets consist principally of U.S. real property interests is generally subject to U.S. federal income tax on any gain recognized on the disposition. This tax does not apply, however, to the disposition of stock in a REIT if the REIT is "domestically controlled." In general, we will be a domestically controlled REIT if at all times during the five-year period ending on the applicable stockholder’s disposition of our stock, less than 50% in value of our stock was held directly or indirectly by non-U.S. persons. If we were to fail to qualify as a domestically controlled REIT, gain recognized by a foreign stockholder on a disposition of our common stock would be subject to U.S. federal income tax unless our common stock was traded on an established securities market and the foreign stockholder did not at any time during a specified testing period directly or indirectly own more than 5% of our outstanding common stock.

Several of our controlling stockholders have pledged their shares of our stock as collateral under bank loans, which could result in foreclosure and disposition and could have a negative impact on our stock price.

As of December 31, 2012, Chaim Katzman, the chairman of our board of directors, and his affiliates beneficially owned approximately 46.0% of the outstanding shares of our common stock. Several of our stockholders affiliated with Mr. Katzman, including Gazit and related entities, have pledged a substantial portion of our stock that they own to secure loans made to them by commercial banks. Based on information from these stockholders, we believe that 89.7% of the shares reported as beneficially owned by Mr. Katzman and his affiliates are pledged to secure loans made to these stockholders.

If one of these stockholders defaults on any of its obligations under these pledge agreements or the related loan documents, these banks may have the right to sell the pledged shares in one or more public or private sales that could cause our stock price to decline. Many of the occurrences that could result in a foreclosure of the pledged shares are out of our control and are unrelated to our operations. Some of the occurrences that may constitute such an event of default include:

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• the stockholder’s failure to make a payment of principal or interest when due;

• a reduction in the dividend we pay on our common stock;

• the occurrence of another default that would entitle any of the stockholder’s other creditors to accelerate payment of any debts and obligations owed to them by the stockholder;

• if the bank, in its absolute discretion, deems that a change has occurred in the condition of the stockholder to which the bank has not given its prior written consent; and

• if, in the opinion of the bank, the value of the pledged shares has been reduced or is likely to be reduced or the value of the pledged shares fails to exceed the outstanding principal amount of one or more of the loans made to the stockholders by a contractual margin (for example, due to the decline in the price of our common stock).

In addition, because so many shares are pledged to secure these loans, the occurrence of an event of default could result in a sale of pledged shares that would trigger a change of control of our company, even when such a change may not be in the best interests of our stockholders or may violate covenants of certain loan agreements.

ITEM 1B. UNRESOLVED STAFF COMMENTS

None.

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ITEM 2. PROPERTIES

Our consolidated portfolio consists primarily of grocery-anchored shopping centers and, at December 31, 2012, contained an aggregate of approximately 16.9 million square feet of GLA. All of our properties are owned in fee simple other than McAlpin Square shopping center located in Savannah, Georgia, Plaza Acadienne shopping center located in Eunice, Louisiana, El Novillo shopping center located in Miami, Florida, Darinor Plaza shopping center located in Norwalk, Connecticut, Aventura Square located in Aventura, Florida, Clocktower Plaza Shopping Center located in Queens, New York and Willow Shopping Center located in Concord, California each of which is subject to a ground lease in favor of a third party lessor. A small number of our shopping centers include outparcels or minor portions of the center that are subject to ground leases. In addition, some of our properties are subject to mortgages as described under “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Indebtedness.”

The following table provides a brief description of our properties as of December 31, 2012:

Property	City	Year Built / Renovated	Total Sq. Ft. Owned	Percent Leased		Average base rent per leased SF		Grocer Anchor	Other anchor tenants
NORTH FLORIDA REGION (30)
Orlando / Central Florida (7)
Alafaya Commons	Orlando	1987	126,333	81.7	%	$	14.02	Publix
Alafaya Village	Orlando	1986	38,118	83.6	%	$	22.54
Eastwood, Shoppes of (2)	Orlando	1997	69,037	98.1	%	$	11.01	Publix
Kirkman Shoppes	Orlando	1973	88,820	63.6	%	$	22.87
Park Promenade	Orlando	1987 / 2000	128,848	71.5	%	$	6.84		Beauty Depot / Dollar General
Town & Country	Kissimmee	1993	75,181	94.1	%	$	8.04	Albertsons* (Ross Dress For Less)
Unigold Shopping Center	Winter Park	1987	117,527	89.4	%	$	9.95	Winn-Dixie	You Fit
Jacksonville / North Florida (8)
Beauclerc Village	Jacksonville	1962 / 1988	68,846	94.3	%	$	8.17		Big Lots / Goodwill / Beall’s Outlet
Forest Village	Tallahassee	2000	71,526	78.7	%	$	10.26	Publix
Ft. Caroline	Jacksonville	1985 / 1995	71,816	86.8	%	$	6.89	Winn-Dixie	Citi Trends
Mandarin Landing	Jacksonville	1976	139,580	88.6	%	$	16.50	Whole Foods	Office Depot / Aveda Institute
Medical & Merchants	Jacksonville	1993	156,153	97.0	%	$	13.16	Publix	Memorial Hospital* / Planet Fitness
Oak Hill	Jacksonville	1985 / 1997	78,492	100.0	%	$	8.27	Publix	Planet Fitness
Pablo Plaza	Jacksonville	1974 / 1998 / 2001 / 2008	146,473	89.5	%	$	11.74	Publix* (Office Depot)	Marshalls / HomeGoods
South Beach	Jacksonville Beach	1990 / 1991	303,456	86.7	%	$	11.96		Ross / Bed Bath & Beyond / Home Depot / Stein Mart / Staples
Tampa / St. Petersburg / Venice / Cape Coral / Naples (10)
Charlotte Square	Port Charlotte	1980	96,626	69.9	%	$	5.50		Seafood Buffet / American Signature Furniture
Glengary Shoppes	Sarasota	1995	99,182	100.0	%	$	18.37		Best Buy / Barnes & Noble
Lutz Lake	Lutz	2002	64,985	92.0	%	$	12.62	Publix
Mariners Crossing	Spring Hill	1989 / 1999	97,812	93.7	%	$	10.78	Sweet Bay
Regency Crossing	Port Richey	1986 / 2001	85,864	80.5	%	$	10.32	Publix
Seven Hills	Spring Hill	1991	72,590	90.6	%	$	10.46	Publix
Shoppes of North Port	North Port	1991	84,705	84.4	%	$	7.00		You Fit Health Club / Goodwill
Sunlake	Tampa	2008	94,397	91.3	%	$	18.35	Publix
Sunpoint Shopping Center	Ruskin	1984	132,374	83.2	%	$	7.68		Goodwill / Big Lots / Chapter 13 Trustee/The Crossing Church
Walden Woods	Plant City	1985 /1998 / 2003	72,950	88.7	%	$	7.63		Dollar Tree / Aaron Rents / Dollar General

16

Property	City	Year Built / Renovated	Total Sq. Ft. Owned	Percent Leased		Average base rent per leased SF		Grocer Anchor	Other anchor tenants
Florida Treasure / Northeast Coast (5)
New Smyrna Beach	New Smyrna Beach	1987	118,451	97.7	%	$	11.58	Publix	Beall’s Outlet
Old King Commons	Palm Coast	1988	84,759	95.6	%	$	8.23		Walmart / Planet Fitness
Ryanwood	Vero Beach	1987	114,925	85.9	%	$	11.28	Publix	Beall’s Outlet / Books-A-Million
South Point Center	Vero Beach	2003	64,790	94.1	%	$	15.28	Publix
Treasure Coast	Vero Beach	1983	133,781	95.4	%	$	12.77	Publix	TJ Maxx
TOTAL SHOPPING CENTERS NORTH FLORIDA REGION (30)			3,098,397	88.1	%	$	11.65
SOUTH FLORIDA REGION (38)
Miami-Dade / Broward / Palm Beach (35)
Aventura Square (1)	Aventura	1991	143,250	100.0	%	$	24.15		Babies R Us / Jewelry Exchange / Old Navy / Bed Bath & Beyond / DSW
Bird Ludlum	Miami	1988 / 1998	192,274	95.8	%	$	19.40	Winn-Dixie	CVS Pharmacy / Goodwill
Bluffs Square	Jupiter	1986	123,917	80.3	%	$	13.19	Publix	Walgreens
Chapel Trail	Pembroke Pines	2007	56,378	100.0	%	$	23.63		LA Fitness
Coral Reef Shopping Center	Palmetto Bay	1968 / 1990	76,632	91.0	%	$	25.93		Office Depot / Walgreens
Countryside Shops	Cooper City	1986 /1988 / 1991	179,561	86.0	%	$	14.14	Publix	Stein Mart
Crossroads Square	Pembroke Pines	1973	81,587	79.9	%	$	17.23		CVS Pharmacy / Goodwill
CVS Plaza	Miami	2004	18,214	100.0	%	$	23.50
El Novillo	Miami Beach	1970 / 2000	10,000	100.0	%	$	17.00		Sakura Japanese Buffet
Greenwood	Palm Springs	1982 / 1994	133,339	92.7	%	$	16.26	Publix	Beall’s Outlet
Hammocks Town Center	Miami	1987 / 1993	254,908	97.8	%	$	9.41	Publix	Metro Dade Library / CVS Pharmacy / Porky’s Gym / Kendall Ice
Jonathan’s Landing	Jupiter	1997	26,820	69.9	%	$	21.28
Lago Mar	Miami	1995	82,613	89.5	%	$	14.21	Publix
Lantana Village	Lantana	1976 / 1999	181,780	97.5	%	$	7.57	Winn-Dixie	Kmart / Rite Aid* (Family Dollar)
Magnolia Shoppes	Fort Lauderdale	1998	114,118	92.8	%	$	11.93		Regal Cinemas / Deal$
Meadows	Miami	1997	75,524	94.2	%	$	13.76	Publix
Shoppes of Oakbrook	Palm Beach Gardens	1974 / 2000 / 2003	199,633	94.6	%	$	14.62	Publix	Stein Mart / Homegoods / CVS Pharmacy / Bassett Furniture / Duffy’s
Oaktree Plaza	North Palm Beach	1985	23,745	71.8	%	$	15.72
Pine Island (1)	Davie	1999	254,907	89.8	%	$	12.77	Publix	Burlington Coat Factory/Staples
Plaza Alegre	Miami	2003	88,411	92.4	%	$	16.19	Publix	Goodwill
Point Royale	Miami	1970 / 2000	174,875	93.6	%	$	11.06	Winn-Dixie	Best Buy / Pasteur Medical
Prosperity Centre	Palm Beach Gardens	1993	122,014	100.0	%	$	17.88		Office Depot / CVS Pharmacy / Bed Bath & Beyond / TJ Maxx

17

Property	State	Year Built / Renovated	Total Sq. Ft. Owned	Percent Leased		Average base rent per leased SF		Grocer Anchor	Other anchor tenants
Ridge Plaza	Davie	1984 / 1999	155,204	95.3	%	$	11.66		Ridge Cinema / Kabooms / United Collection / Round Up / Goodwill
Riverside Square	Coral Springs	1987	103,241	76.1	%	$	11.13	Publix
Sawgrass Promenade	Deerfield Beach	1982 / 1998	107,092	85.9	%	$	10.65	Publix	Walgreens / Dollar Tree
Sheridan Plaza	Hollywood	1973 / 1991	508,455	98.8	%	$	15.72	Publix	Kohl’s / Ross / Bed Bath & Beyond / Pet Supplies Plus / LA Fitness / Office Depot / Assoc. in Neurology
Shoppes of Andros Isles	West Palm Beach	2000	79,420	83.3	%	$	12.34	Publix
Shoppes of Silverlakes	Pembroke Pines	1995 / 1997	126,789	87.8	%	$	15.70	Publix	Goodwill
Shops at Skylake	North Miami Beach	1999 / 2005 / 2006	287,168	96.5	%	$	18.78	Publix	TJ Maxx / LA Fitness / Goodwill
Tamarac Town Square	Tamarac	1987	124,585	89.3	%	$	11.15	Publix	Dollar Tree / Pivot Education
Waterstone	Homestead	2005	61,000	100.0	%	$	14.90	Publix
West Bird	Miami	1977 / 2000	99,864	87.7	%	$	13.32	Publix	CVS Pharmacy
West Lakes Plaza	Miami	1984 / 2000	100,747	94.2	%	$	14.07	Winn-Dixie	Navarro Pharmacy
Westport Plaza	Davie	2002	49,533	97.6	%	$	17.27	Publix
Young Circle	Hollywood	1962 / 1997	65,834	98.1	%	$	15.47	Publix	Walgreens
Florida Treasure / Northeast Coast (3)
Cashmere Corners	Port St. Lucie	2001	89,234	93.7	%	$	8.96	Albertsons
Salerno Village	Stuart	1987	82,477	89.8	%	$	10.71	Winn-Dixie	CVS Pharmacy
Shops at St. Lucie	Port St. Lucie	2006	19,361	65.2	%	$	21.83
TOTAL SHOPPING CENTERS SOUTH FLORIDA REGION (38)			4,674,504	92.8	%	$	14.67
SOUTHEAST REGION (47)
ALABAMA (1)
Madison Centre	Madison	1997	64,837	95.7	%	$	9.92	Publix	Rite Aid
TOTAL SHOPPING CENTERS ALABAMA (1)			64,837	95.7	%	$	9.92
FLORIDA (1)
Middle Beach Shopping Center	Panama City Beach	1994	69,277	82.2	%	$	8.53	Publix*
TOTAL SHOPPING CENTERS FLORIDA (1)			69,277	82.2	%	$	8.53
GEORGIA (22)
Atlanta (18)
BridgeMill	Canton	2000	89,102	91.9	%	$	16.05	Publix
Buckhead Station	Atlanta	1996	233,739	100.0	%	$	21.46		Bed Bath & Beyond / TJ Maxx / Old Navy / Toys R Us / DSW / Ulta / Nordstrom Rack
Butler Creek (2)	Acworth	1990	95,597	91.3	%	$	9.67	Kroger
Chastain Square	Atlanta	1981 / 2001	91,637	98.0	%	$	18.21	Publix
Douglas Commons	Douglasville	1988	97,027	95.0	%	$	10.97	Kroger
Fairview Oaks (2)	Ellenwood	1997	77,052	94.4	%	$	10.70	Kroger
Grassland Crossing (2)	Alpharetta	1996	90,906	94.6	%	$	9.07	Kroger
Hairston Center	Decatur	2000	13,000	92.3	%	$	10.52
Hamilton Ridge (2)	Buford	2002	90,996	85.1	%	$	11.34	Kroger
Hampton Oaks	Fairburn	2009	20,842	17.3	%	$	12.12
Mableton Crossing (2)	Mableton	1997	86,819	97.7	%	$	10.56	Kroger

18

Property	City	Year Built / Renovated	Total Sq. Ft. Owned	Percent Leased		Average base rent per leased SF		Grocer  Anchor	Other anchor tenants
Macland Pointe (2)	Marietta	1992-93	79,699	92.8	%	$	10.29	Publix
Market Place	Norcross	1976	73,686	98.5	%	$	11.35		Galaxy Cinema
Piedmont Peachtree Crossing	Buckhead	1978 / 1998	152,239	95.0	%	$	18.20	Kroger	Cost Plus Store / Binders Art Supplies
Powers Ferry Plaza	Marietta	1979 / 1987 / 1998	86,401	82.0	%	$	9.65		Micro Center
Shops of Westridge (2)	McDonough	2006	66,297	72.5	%	$	12.43	Publix
Wesley Chapel	Decatur	1989	164,153	84.3	%	$	8.21		Everest Institute / Little Giant / Deal$ / Planet Fitness
Williamsburg @ Dunwoody	Dunwoody	1983	44,928	81.6	%	$	20.16
Central / South Georgia (4)
Daniel Village	Augusta	1956 / 1997	171,932	84.9	%	$	8.99	Bi-Lo	St. Joseph Home Health Care
McAlpin Square	Savannah	1979	173,952	94.7	%	$	7.62	Kroger	Big Lots / Post Office / Habitat for Humanity
Spalding Village	Griffin	1989	235,318	59.5	%	7.68		Kroger	Fred’s Store / Goodwill
Walton Plaza	Augusta	1990	43,460	94.5	%	$	6.08		Gold’s Gym
TOTAL SHOPPING CENTERS GEORGIA (22)			2,278,782	87.7	%	$	12.30
LOUISIANA (12)
Ambassador Row	Lafayette	1980 / 1991	187,678	98.3	%	$	10.20		Conn’s Appliances / Big Lots / Chuck E Cheese / Planet Fitness / JoAnn Fabrics
Ambassador Row Courtyard	Lafayette	1986 / 1991 / 2005	146,697	94.8	%	$	9.98		Bed Bath & Beyond / Marshalls / Hancock Fabrics / Unitech Training Academy / Tuesday Morning
Bluebonnet Village	Baton Rouge	1983	101,623	98.0	%	$	11.85	Matherne’s	Office Depot
Boulevard	Lafayette	1976 / 1994	68,012	94.5	%	$	8.89		Piccadilly / Harbor Freight Tools / Golfballs.com
Country Club Plaza	Slidell	1982 / 1994	64,686	86.8	%	$	6.43	Winn-Dixie
Crossing	Slidell	1988 / 1993	113,989	95.4	%	$	5.50	Save A Center	A-1 Home Appliance / Piccadilly
Elmwood Oaks	Harahan	1989	130,284	91.9	%	$	9.10		Academy Sports / Dollar Tree
Plaza Acadienne	Eunice	1980	59,419	100.0	%	$	4.22	Super 1 Store	Fred’s Store
Sherwood South	Baton Rouge	1972 / 1988 / 1992	77,230	81.3	%	$	6.41		Burke’s Outlet / Harbor Freight Tools / Fred’s Store
Siegen Village	Baton Rouge	1988	170,416	98.9	%	$	9.50		Office Depot / Big Lots / Dollar Tree / Stage / Party City
Tarpon Heights	Galliano	1982	56,605	100.0	%	$	5.97		Stage / Dollar General
Village at Northshore	Slidell	1988	144,638	97.6	%	$	6.72		Marshalls / Dollar Tree / Kirschman’s* / Bed Bath & Beyond / Office Depot
TOTAL SHOPPING CENTERS LOUISIANA (12)			1,321,277	95.4	%	$	8.42
MISSISSIPPI (1)
Shipyard Plaza	Pascagoula	1987	66,857	100.0	%	$	7.34		Big Lots / Dragon City
TOTAL SHOPPING CENTERS MISSISSIPPI (1)			66,857	100.0	%	$	7.34

19

Property	City	Year Built / Renovated	Total Sq. Ft. Owned	Percent Leased		Average base rent per leased SF		Grocer Anchor	Other anchor tenants
NORTH CAROLINA (7)
Brawley Commons	Charlotte	1997 / 1998	119,189	73.0	%	$	10.93	Lowe’s Foods	Rite Aid / Four Seasons Trading*
Centre Pointe Plaza	Smithfield	1989	163,642	95.4	%	$	6.08		Belk’s / Dollar Tree / Aaron Rents / Burke’s Outlet Stores
Chestnut Square	Brevard	1985 / 2008	34,260	90.7	%	$	15.68		Walgreens
Riverview Shopping Center	Durham	1973 / 1995	128,498	92.4	%	$	8.16	Kroger	Upchurch Drugs / Riverview Galleries
Stanley Market Place	Stanley	2007	53,228	96.7	%	$	9.77	Food Lion	Family Dollar
Thomasville Commons	Thomasville	1991	148,754	88.3	%	$	5.34	Ingles	Kmart
Willowdaile Shopping Center	Durham	1986	95,601	88.5	%	$	8.49		Hall of Fitness / Ollie’s Bargain Outlet
TOTAL SHOPPING CENTERS NORTH CAROLINA (7)			743,172	88.9	%	$	7.99
SOUTH CAROLINA (2)
North Village Center (2)	North Myrtle Beach	1984	60,356	68.2	%	$	8.04		Dollar General / Goodwill
Windy Hill (2)	North Myrtle Beach	1968 / 1988 / 2006	68,465	100.0	%	$	6.32		Rose’s Store / Citi Trends
TOTAL SHOPPING CENTERS SOUTH CAROLINA (2)			128,821	85.1	%	$	6.97
VIRGINIA (1)
Smyth Valley Crossing	Marion	1989	126,841	98.0	%	$	6.07	Ingles	Walmart
TOTAL SHOPPING CENTERS VIRGINIA (1)			126,841	98.0	%	$	6.07
TOTAL SHOPPING CENTERS SOUTHEAST REGION (47)			4,799,864	90.4	%	$	10.05
NORTHEAST REGION (19)
CONNECTICUT (7)
Brookside Plaza	Enfield	1985 / 2006	214,030	95.9	%	$	12.38	Wakefern Food	Bed Bath & Beyond / Walgreens / Staples /Petsmart / Hibachi Grill
Compo Acres (1)	Westport	1960 / 2011	42,866	100.0	%	$	45.72	Trader Joe’s
Copps Hill	Ridgefield	1979 / 2002	184,528	100.0	%	$	12.83	Stop & Shop	Kohl’s / Rite Aid
Darinor Plaza (1)	Norwalk	1978	151,198	100.0	%	$	16.25		Kohl's / Old Navy / Party City
Danbury Green (1)	Danbury	1985 / 2006	98,095	100.0	%	$	22.09	Trader Joe’s	Rite Aid / Annie Sez / Staples / DSW
Post Road Plaza (1)	Darien	1978	20,005	100.0	%	$	36.57	Trader Joe's
Southbury Green (1)	Southbury	1979 / 2002	156,215	98.5	%	$	21.62	ShopRite	Staples
TOTAL SHOPPING CENTERS CONNECTICUT (7)			866,937	98.7	%	$	18.17
MASSACHUSETTS (7)
Cambridge Star Market	Cambridge	1953 / 1997	66,108	100.0	%	$	30.25	Star Market
Medford Shaw’s Supermarket	Medford	1995	62,656	100.0	%	$	26.92	Shaw’s
Plymouth Shaw’s Supermarket	Plymouth	1993	59,726	100.0	%	$	19.99	Shaw’s
Quincy Star Market	Quincy	1965 / 1995	100,741	100.0	%	$	19.53	Star Market
Swampscott Whole Foods	Swampscott	1967 / 2005	35,907	100.0	%	$	22.89	Whole Foods
Webster Plaza	Webster	1963 / 1998	199,425	98.2	%	$	8.14	Shaw’s	K Mart
West Roxbury Shaw’s Plaza	West Roxbury	1973 / 1995 / 2006	76,316	97.7	%	$	25.51	Shaw’s
TOTAL SHOPPING CENTERS MASSACHUSETTS (7)			600,879	99.1	%	$	18.75

20

Property	City	Year Built / Renovated	Total Sq. Ft. Owned	Percent Leased		Average base rent per leased SF		Grocer Anchor	Other anchor tenants
NEW YORK (5)
1175 Third Avenue	Manhattan	1995	25,350	100.0	%	$	41.66	Food Emporium
90-30 Metropolitan (1)	Queens	2007	59,815	93.9	%	$	31.00	Trader Joe's	Staples / Michael’s
101 7th Avenue (1)	Manhattan	1930	56,870	100.0	%	$	24.62		Loehmann’s
1225-1239 Second Avenue (1)	Manhattan	1964/1987	18,474	100.0	%	$	95.71		CVS Pharmacy
Clocktower Plaza (1)	Queens	1985/1995	78,820	100.0	%	$	44.33	Pathmark
TOTAL SHOPPING CENTERS NEW YORK (5)			239,329	98.5	%	$	40.14
TOTAL SHOPPING CENTERS NORTHEAST REGION (19)			1,707,145	98.8	%	$	21.44
WEST COAST REGION (10)
ARIZONA (1)
Canyon Trails	Goodyear	2008	210,396	64.4	%	$	13.56		Office Max / PetSmart / Ross / Cost Plus / Dollar Tree
TOTAL SHOPPING CENTERS ARIZONA (1)			210,396	64.4	%	$	13.56
CALIFORNIA (9)
Circle Center West (1)	Long Beach	1989	64,403	97.8	%	$	20.46		Marshalls
Culver Center (1)	Culver City	1950 / 2000	216,646	100.0	%	$	26.86	Ralph’s	LA Fitness / Sit N Sleep / Tuesday Morning / Best Buy
Marketplace Shopping Center	Davis	1990	111,156	100.0	%	$	22.03	Safeway	Petco / CVS Pharmacy
Plaza Escuela	Walnut Creek	2002	152,452	100.0	%	$	40.95		AAA / Yoga Works / The Container Store / Cheesecake Factory / Forever 21 / Sports Authority
Potrero Shopping Center (1)	San Francisco	1968 / 1997	226,699	99.9	%	$	28.28	Safeway	24 Hour Fitness / Party City / Petco / Office Depot / Ross
Ralph's Circle Center (1)	Long Beach	1983	59,837	98.0	%	$	16.04	Ralph’s
Serramonte	Daly City	1968	799,764	98.7	%	$	18.00		Macy’s / JC Penney / Target / Daiso / H&M / Forever 21 / A’Gaci / New York & Company / Crunch Gym
Von’s Circle Center (1)	Long Beach	1972	148,353	96.7	%	$	17.06	Von’s	Rite Aid / Ross
Willows Shopping Center	Concord	1977	256,086	93.4	%	$	21.95		El Torito / Claim Jumper / U Gym / REI / The Jungle / Old Navy / Pier 1 / Cost Plus
TOTAL SHOPPING CENTERS CALIFORNIA (9)			2,035,396	98.3	%	$	22.52
TOTAL SHOPPING CENTERS WEST COAST REGION (10)			2,245,792	95.1	%	$	21.95
TOTAL CORE SHOPPING CENTER PORTFOLIO (144)			16,525,702	92.1	%	$	14.58

21

Property	City	Year Built / Renovated	Total Sq. Ft. Owned	Percent Leased		Average base rent per leased SF	Grocer Anchor	Other anchor tenants
OTHER PROPERTIES (6) (1)
200 Potrero	San Francisco	1928	30,500	55.1	%
4101 South I-85 Industrial	Charlotte, NC	1956 / 1963	188,513	100.0	%			Park ’N Go
Banco Popular Office Building	Miami, FL	1971	32,737	82.5	%
Prosperity Office Building	Palm Beach Gdns, FL	1972	3,200	—	%
Providence Square	Charlotte, NC	1973	85,930	16.6	%
Danville - San Ramon Medical	Danville, CA	1982-1986	74,599	76.9	%
TOTAL OTHER PROPERTIES (6) (1)			415,479	73.2	%
TOTAL EXCLUDING DEVELOPMENTS, REDEVELOPMENTS & LAND (150)			16,941,181	91.7	%
DEVELOPMENTS, REDEVELOPMENTS & LAND (18) (1)
Developments (2)
Redevelopments (9)
Land Held for Development (7)
TOTAL CONSOLIDATED - 168 Properties

Note: Total square footage does not include shadow anchor square footage that is not owned by Equity One, but does include square footage for ground leases.

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

⁽¹⁾ Not included in the year to date December 31, 2012 same property pool.

⁽²⁾ Property is classified as held for sale.

Most of our leases provide for the monthly payment in advance of fixed minimum rent, the tenants’ pro rata share of property taxes, insurance (including fire and extended coverage, rent insurance and liability insurance) and common area maintenance for the property. Our leases may also provide for the payment of additional rent based on a percentage of the tenants’ sales. Utilities are generally paid directly by tenants except where common metering exists with respect to a property. In those cases, we make the payments for the utilities and are reimbursed by the tenants on a monthly basis. Generally, our leases prohibit our tenants from assigning or subletting their spaces. The leases also require our tenants to use their spaces for the purposes designated in their lease agreements and to operate their businesses on a continuous basis. Some of the lease agreements with major or national or regional tenants contain modifications of these basic provisions in view of the financial condition, stability or desirability of those tenants. Where a tenant is granted the right to assign its space, the lease agreement generally provides that the original tenant will remain liable for the payment of the lease obligations under that lease agreement.

Major Tenants

The following table sets forth as of December 31, 2012 the GLA, and the annual minimum rent at expiration of our existing properties leased to tenants in our core shopping center portfolio. Our core shopping center portfolio is defined as all of our shopping centers accounted for on a consolidated basis, excluding properties under development and redevelopment, non-retail properties, and properties held in unconsolidated joint ventures. We define anchor tenants as tenants occupying a space consisting of 10,000 square feet or more of GLA.

	Supermarket Anchor Tenants			Other Anchor Tenants			Non-anchor Tenants			Total
Leased GLA (sq. ft.)	4,159,984			6,385,506			4,681,476			15,226,966
Percentage of Total Leased GLA	27.3		%	41.9		%	30.8		%	100.0		%
Annual Minimum Rent (“AMR”)	$	46,717,395		$	74,718,273		$	114,319,367		$	235,755,035
Percentage of Total AMR	19.8		%	31.7		%	48.5		%	100.0		%

22

The following table sets forth as of December 31, 2012 information regarding leases with the ten largest tenants (by annualized minimum rent) in our shopping center portfolio, including those properties under development or redevelopment:

Tenant	Number of Leases	GLA (square feet)	Percent of Total GLA		Annualized Minimum Rent at 12/31/12		Percent of Aggregate Annualized Minimum Rent		Average Annual Minimum Rent per Square Foot
Publix	43	1,836,015	9.9	%	$	14,450,273	5.7	%	$	7.87
Supervalu	6	398,625	2.2	%	8,995,251		3.6	%	$	22.57
L.A. Fitness	6	279,897	1.5	%	5,238,653		2.1	%	$	18.72
Kroger	10	573,686	3.1	%	4,233,263		1.7	%	$	7.38
The TJX Companies	11	322,879	1.7	%	4,198,079		1.7	%	$	13.00
Bed Bath & Beyond	9	306,332	1.7	%	3,811,537		1.5	%	$	12.44
CVS Pharmacy	13	153,211	0.8	%	3,511,754		1.4	%	$	22.92
Office Depot	9	231,094	1.3	%	3,464,505		1.4	%	$	14.99
The Gap, Inc.	7	119,729	0.6	%	3,320,452		1.3	%	$	27.73
Costco	1	148,295	0.8	%	3,057,583		1.2	%	$	20.62
Total top ten tenants	115	4,369,763	23.6	%	$	54,281,350	21.6	%	$	12.42

Lease Expirations

The following tables sets forth as of December 31, 2012 the anticipated expirations of tenant leases in our core shopping center portfolio for each year from 2013 through 2021 and thereafter:

ALL TENANTS

Year	Number of Leases	GLA (square feet)	Percent of  Total GLA		Annualized Minimum Rent at Expiration		Percent of Aggregate Annualized Minimum Rent at Expiration		Average Annual Minimum Rent per Square Foot at Expiration
M-T-M	146	358,740	2.2	%	$	6,400,366	2.7	%	$	17.84
2013	388	1,706,203	10.3	%	25,495,139		10.8	%	$	14.94
2014	422	2,103,705	12.7	%	28,728,661		12.2	%	$	13.66
2015	392	1,905,627	11.5	%	27,177,830		11.5	%	$	14.26
2016	305	2,346,966	14.2	%	36,814,545		15.6	%	$	15.69
2017	305	1,931,269	11.7	%	32,226,906		13.7	%	$	16.69
2018	70	719,695	4.4	%	10,389,487		4.4	%	$	14.44
2019	38	618,786	3.7	%	6,663,388		2.8	%	$	10.77
2020	46	642,708	3.9	%	9,914,354		4.2	%	$	15.43
2021	42	430,573	2.6	%	7,942,443		3.4	%	$	18.45
Thereafter	150	2,462,694	14.9	%	44,001,916		18.7	%	$	17.87
Sub-total/Average	2,304	15,226,966	92.1	%	235,755,035		100.0	%	$	15.48
Vacant	582	1,298,736	7.9	%	NA		NA		NA
Total/Average	2,886	16,525,702	100.0	%	$	235,755,035	100.0	%	NA

23

ANCHOR TENANTS > 10,000 SF

Year	Number of Leases	GLA (square feet)	Percent of Total GLA		Annualized Minimum Rent at Expiration		Percent of Aggregate Annualized Minimum Rent at Expiration		Average Annual Minimum Rent per Square Foot at Expiration
M-T-M	3	51,251	0.5	%	$	496,634	0.4	%	$	9.69
2013	32	926,645	8.6	%	9,146,385		7.5	%	$	9.87
2014	44	1,264,125	11.8	%	10,637,990		8.8	%	$	8.42
2015	38	1,088,519	10.1	%	8,350,392		6.9	%	$	7.67
2016	47	1,723,711	16.0	%	21,580,968		17.8	%	$	12.52
2017	44	1,337,992	12.5	%	16,808,481		13.8	%	$	12.56
2018	14	539,280	5.0	%	5,805,757		4.8	%	$	10.77
2019	11	530,145	4.9	%	4,359,559		3.6	%	$	8.22
2020	18	555,872	5.2	%	7,264,706		6.0	%	$	13.07
2021	15	357,575	3.3	%	4,642,371		3.8	%	$	12.98
Thereafter	63	2,170,375	20.2	%	32,342,426		26.6	%	$	14.90
Sub-total/Average	329	10,545,490	98.1	%	121,435,669		100.0	%	$	11.52
Vacant	10	200,119	1.9	%	NA		NA		NA
Total/Average	339	10,745,609	100.0	%	$	121,435,669	100.0	%	NA

SHOP TENANTS < 10,000 SF

Year	Number of Leases	GLA (square feet)	Percent of Total GLA		Annualized Minimum Rent at Expiration		Percent of Aggregate Annualized Minimum Rent at Expiration		Average Annual Minimum Rent per Square Foot at Expiration
M-T-M	143	307,489	5.3	%	$	5,903,732	5.2	%	$	19.20
2013	356	779,558	13.5	%	16,348,754		14.3	%	$	20.97
2014	378	839,580	14.5	%	18,090,672		15.8	%	$	21.55
2015	354	817,108	14.1	%	18,827,439		16.5	%	$	23.04
2016	258	623,255	10.8	%	15,233,577		13.3	%	$	24.44
2017	261	593,277	10.3	%	15,418,424		13.5	%	$	25.99
2018	56	180,415	3.1	%	4,583,730		4.0	%	$	25.41
2019	27	88,641	1.5	%	2,303,829		2.0	%	$	25.99
2020	28	86,836	1.5	%	2,649,648		2.3	%	$	30.51
2021	27	72,998	1.3	%	3,300,072		2.9	%	$	45.21
Thereafter	87	292,319	5.1	%	11,659,490		10.2	%	$	39.89
Sub-total/Average	1,975	4,681,476	81.0	%	114,319,367		100.0	%	$	24.42
Vacant	572	1,098,617	19.0	%	NA		NA		NA
Total/Average	2,547	5,780,093	100.0	%	$	114,319,367	100.0	%	NA

We may incur substantial expenditures in connection with the re-leasing of our retail space, principally in the form of landlord work, tenant improvements and leasing commissions. The amounts of these expenditures can vary significantly, depending on negotiations with tenants and the willingness of tenants to pay higher base rents over the terms of the leases. We also incur expenditures for certain recurring or periodic capital expenses required to keep our properties competitive.

24

Insurance

Our tenants are generally responsible under their leases for providing adequate insurance on the spaces they lease. We believe that our properties are covered by adequate liability, property, flood and environmental, and where necessary, hurricane and windstorm insurance coverages which are all provided by reputable companies. However, most of our insurance policies contain deductible or self-retention provisions requiring us to share some of any resulting losses. In addition, most of our policies contain limits beyond which we have no coverage. We currently do not have comprehensive insurance covering the full replacement cost of losses resulting from earthquakes. Therefore, if an earthquake did occur and our properties were affected, we would bear the losses resulting therefrom.

ITEM 3. LEGAL PROCEEDINGS

Neither we nor our properties are subject to any material litigation. We and our properties may be subject to routine litigation and administrative proceedings arising in the ordinary course of business which, collectively, are not expected to have a material adverse effect on our business, financial condition, results of operations, or our cash flows.

ITEM 4. MINE SAFETY DISCLOSURES

Not applicable.

25

PART II

ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

Market Information and Dividends

Our common stock began trading on the New York Stock Exchange, or NYSE, on May 18, 1998, under the symbol “EQY.” On February 19, 2013, we had 1,097 stockholders of record representing 13,448 beneficial owners. The following table sets forth for the periods indicated the high and low sales prices as reported by the NYSE and the cash dividends declared by us:

	Price Per Share
	High		Low		Dividends Declared per share
2012:
First Quarter	$	20.31	$	16.82	$	0.22
Second Quarter	$	21.48	$	19.13	$	0.22
Third Quarter	$	22.16	$	20.63	$	0.22
Fourth Quarter	$	21.83	$	19.43	$	0.22
2011:
First Quarter	$	19.21	$	17.74	$	0.22
Second Quarter	$	20.09	$	17.40	$	0.22
Third Quarter	$	20.27	$	15.03	$	0.22
Fourth Quarter	$	17.75	$	14.57	$	0.22

Dividends paid during 2012 and 2011 totaled $102.1 million and $98.8 million, respectively. Future declarations of dividends will be made at the discretion of our board of directors and will depend upon our earnings, financial condition and such other factors as our board of directors deems relevant. In order to qualify for the beneficial tax treatment accorded to real estate investment trusts under the Code, we are currently required to make distributions to holders of our shares in an amount equal to at least 90% of our “real estate investment trust taxable income,” as defined in Section 857 of the Code.

Our total annual dividends paid per common share for each of 2012 and 2011 were $0.88 per share. The annual dividend amounts are different from dividends as calculated for federal income tax purposes. Distributions to the extent of our current and accumulated earnings and profits for federal income tax purposes generally will be taxable to a stockholder as ordinary dividend income. Distributions in excess of current and accumulated earnings and profits will be treated as a nontaxable reduction of the stockholder’s basis in such stockholder’s shares, to the extent thereof, and thereafter as taxable capital gain. Distributions that are treated as a reduction of the stockholder’s basis in its shares will have the effect of increasing the amount of gain, or reducing the amount of loss, recognized upon the sale of the stockholder’s shares. No assurances can be given regarding what portion, if any, of distributions in 2013 or subsequent years will constitute a return of capital for federal income tax purposes. During a year in which a REIT earns a net long-term capital gain, the REIT can elect under Section 857(b)(3) of the Code to designate a portion of dividends paid to stockholders as capital gain dividends. If this election is made, then the capital gain dividends are generally taxable to the stockholder as long-term capital gains.

Performance Graph

The following graph compares the cumulative total return of our common stock with the Russell 2000 Index, the NAREIT All Equity Index and SNL Shopping Center REITs, an index of approximately 20 publicly-traded REITs that primarily own and operate shopping centers, each as provided by SNL Securities L.C., from December 31, 2007 until December 31, 2012. The SNL Shopping Center REIT index is compiled by SNL Securities L.C. and includes our common stock and securities of many of our competitors. The graph assumes that $100 was invested on December 31, 2007 in our common stock, the Russell 2000 Index, the NAREIT All Equity REIT Index and SNL Shopping Center REITs, and that all dividends were reinvested. The lines represent semi-annual index levels derived from compounded daily returns. The indices are re-weighted daily, using the market capitalization on the previous tracked day. If the semi-annual interval is not a trading day, the preceding trading day is used.

26

The performance graph shall not be deemed incorporated by reference by any general statement incorporating by reference this annual report into any filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, except to the extent we specifically incorporate this information by reference, and shall not otherwise be deemed filed under such acts.

	Period Ending
Index	12/31/07	12/31/08	12/31/09	12/31/10	12/31/11	12/31/12
Equity One, Inc.	100.00	81.52	80.49	95.26	93.62	120.96
Russell 2000	100.00	66.21	84.20	106.82	102.36	119.09
NAREIT All Equity REIT Index	100.00	62.27	79.70	101.98	110.42	132.18
SNL REIT Retail Shopping Ctr	100.00	60.20	59.43	77.15	74.94	94.62

Issuer Purchases Of Equity Securities

Period	(a) Total Number of Shares of Common Stock Purchased		(b) Average Price Paid per Share of Common Stock		(c) Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs	(d) Maximum Number (or Approximate Dollar Value) of Shares that May Yet be Purchased Under the Plan or Program
October 1, 2012 - October 31, 2012	561	(1)	$	21.49	N/A	N/A
November 1, 2012 - November 30, 2012	335	(1)	$	20.87	N/A	N/A
December 1, 2012 - December 31, 2012	35,756	(1)	$	20.98	N/A	N/A
	36,652		$	20.98	N/A	N/A

^{____________________________________} 

⁽¹⁾ Represents shares of common stock surrendered by employees to us to satisfy such employees’ tax withholding obligations in connection with the vesting of restricted common stock.

27

Equity Compensation Plan Information

Information regarding equity compensation plans is presented in Item 12 of this annual report and incorporated herein by reference.

28

ITEM 6. SELECTED FINANCIAL DATA

The following table includes selected consolidated financial data set forth as of and for each of the five years in the period ended December 31, 2012. The balance sheet data at December 31, 2012 and 2011, and the statement of operations data for the years ended December 31, 2012, 2011 and 2010, have been derived from the consolidated financial statements included in this Form 10-K. This selected financial data should be read in conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and our consolidated financial statements and the related notes included in Items 7 and 8, respectively, of this Form 10-K.

	Year Ended December 31,
	2012			2011			2010			2009			2008
	(in thousands other than per share, percentage and ratio data)
Statement of Operations Data:(1)
Total revenue	$	325,611		$	280,208		$	218,009		$	200,666		$	197,693
Property operating expenses	87,645			79,126			60,593			59,279			50,499
Rental property depreciation and amortization (2)	86,006			81,446			48,294			41,489			38,509
General and administrative expenses (2)	42,474			50,976			41,360			37,634			31,107
Total operating expenses	216,125			211,548			150,247			138,402			120,115
Interest expense	(72,175		)	(68,964		)	(62,734		)	(54,419		)	(57,060		)
Amortization of deferred financing fees	(2,479		)	(2,207		)	(1,891		)	(1,442		)	(1,592		)
Gain on bargain purchase	—			30,561			—			—			—
Gain on acquisition of controlling interest in subsidiary	—			—			—			27,501			—
Other income, net	7,835			9,577			1,462			11,565			11,293
Gain on sale of real estate	—			5,541			254			—			22,142
(Loss) gain on extinguishment of debt	(29,153		)	(2,175		)	33			12,345			6,473
Impairment loss	(22,772		)	(19,158		)	(464		)	(389		)	(34,867		)
Benefit (provision) for income taxes	2,503			5,064			1,724			3,109			(830		)
(Loss) income from continuing operations	$	(6,755	)	$	26,899		$	6,146		$	60,534		$	23,137
Net (loss) income attributable to Equity One, Inc.	$	(3,477	)	$	33,621		$	25,112		$	83,817		$	35,008
Basic (loss) earnings per share:
(Loss) income from continuing operations	$	(0.16	)	$	0.15		$	0.07		$	0.75		$	0.30
Net (loss) income	$	(0.04	)	$	0.29		$	0.27		$	1.00		$	0.46
Diluted (loss) earnings per share:
(Loss) income from continuing operations	$	(0.16	)	$	0.15		$	0.07		$	0.74		$	0.30
Net (loss) income	$	(0.04	)	$	0.29		$	0.27		$	0.98		$	0.46
Balance Sheet Data:
Income producing properties, net of accumulated depreciation (1)	$	2,813,106		$	2,552,828		$	1,760,704		$	1,587,718		$	1,388,836
Total assets (1)	$	3,502,668		$	3,222,571		$	2,680,562		$	2,450,940		$	2,034,703
Notes payable (1)	$	1,592,292		$	1,288,813		$	1,021,762		$	1,024,344		$	999,418
Total liabilities (1)	$	1,875,638		$	1,574,565		$	1,386,857		$	1,362,240		$	1,124,215
Redeemable noncontrolling interest	$	22,551		$	22,804		$	3,864		$	989		$	989
Stockholders’ equity	$	1,396,726		$	1,417,316		$	1,285,907		$	1,064,535		$	909,498
Other Data:
Funds from operations (3)	$	97,660		$	146,768		$	92,025		$	142,983		$	60,377
Cash flows from:
Operating activities	$	153,219		$	102,626		$	71,562		$	96,294		$	86,519
Investing activities	$	(332,263	)	$	(44,615	)	$	(189,243	)	$	(8,287	)	$	51,306
Financing activities	$	195,497		$	(108,793	)	$	108,044		$	(47,249	)	$	(133,783	)
GLA (square feet) at end of period	16,941			17,178			19,925			19,456			16,417
Occupancy of core shopping center portfolio at end of period	92.1		%	90.7		%	90.3		%	90.3		%	92.1		%
Dividends declared per share	$	0.88		$	0.88		$	0.88		$	1.12		$	1.20

29

⁽¹⁾ Reclassified to reflect the reporting of discontinued operations.

⁽²⁾ Amounts have been reclassified to conform to the 2012 presentation.

⁽³⁾ We believe Funds from Operations ("FFO") (when 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 and, in particular, REITs. The National Association of Real Estate Investment Trusts ("NAREIT") stated in its April 2002 White Paper on Funds from Operations, "Historical cost accounting for real estate assets implicitly assumes that the value of real estate assets diminish predictably over time. Since real estate values instead 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, or impairment charges related to, depreciable operating properties, plus depreciation and amortization, and after adjustments for unconsolidated partnerships and joint ventures." NAREIT states further that "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. In October 2011, NAREIT clarified that FFO should exclude the impact of impairment losses on depreciable operating properties, either wholly-owned or in joint ventures. We calculated FFO for all periods presented in accordance with this clarification.

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 cash flow as a 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.

The following table illustrates the calculation of FFO for each of the five years in the period ended December 31, 2012:

	Year Ended December 31,
	2012			2011			2010		2009		2008
	(In thousands)
Net (loss) income attributable to Equity One, Inc.	$	(3,477	)	$	33,621		$	25,112	$	83,817	$	35,008
Adjustments:
Rental property depreciation and amortization, net of    noncontrolling interest (1)	87,456			95,254			65,735		56,057		45,586
Earnings allocated to noncontrolling interest (2)	—			9,520			—		—		—
Pro rata share of real estate depreciation from    unconsolidated joint ventures	3,932			3,095			1,178		1,436		810
Impairments of depreciable real estate, net of tax (1)	25,156			9,360			—		—		—
(Gain) loss on disposal of depreciable assets, net of tax (1)(3)	(15,407		)	(4,082		)	—		1,673		(21,027		)
Funds from operations	$	97,660		$	146,768		$	92,025	$	142,983	$	60,377

^{__________________________________________} 

⁽¹⁾ Includes amounts classified as discontinued operations.

⁽²⁾ Represents earnings allocated to unissued shares held by LIH, which have been excluded for purposes of calculating (loss) earnings per diluted share. These amounts have been excluded from the computation of FFO for the year ended December 31, 2012 since their inclusion, and the corresponding inclusion of the unissued shares in the diluted shares, would be anti-dilutive. The computation of FFO for the year ended December 31, 2011 includes earnings allocated to LIH and the respective weighted average share totals include the LIH shares outstanding as their inclusion is dilutive.

⁽³⁾ Includes pro rata share of unconsolidated joint ventures.

30

The following table reflects the reconciliation of FFO per diluted share to (loss) earnings per diluted share attributable to Equity One, Inc., the most directly comparable GAAP measure, for the periods presented:

	Year Ended December 31,
	2012			2011			2010		2009		2008
	(In thousands)
(Loss) earnings per diluted share attributable to Equity One, Inc.	$	(0.04	)	$	0.29		$	0.27	$	0.98	$	0.46
Adjustments:
Rental property depreciation and amortization, net of    noncontrolling interest	0.76			0.78			0.72		0.67		0.62
Earnings allocated to noncontrolling interest (1)	—			0.08			—		—		—
Net adjustment for unvested shares (2)	0.01			(0.02		)	—		0.02		—
Pro rata share of real estate depreciation from    unconsolidated joint ventures	0.03			0.03			0.01		0.02		0.01
Impairments of depreciable real estate, net of tax	0.22			0.08			—		—		—
(Gain) loss on disposal of depreciable assets, net of tax	(0.13		)	(0.03		)	—		0.02		(0.28		)
Funds from operations per diluted share	$	0.85		$	1.21		$	1.00	$	1.71	$	0.81
Weighted average diluted shares (3)	114,549			121,474			91,710		83,857		74,098

^{__________________________________________} 

⁽¹⁾Represents earnings allocated to unissued shares held by LIH, which have been excluded for purposes of calculating (loss) earnings per diluted share. These amounts have been excluded from the computation of FFO for the year ended December 31, 2012 since their inclusion, and the corresponding inclusion of the unissued shares in the diluted shares, would be anti-dilutive. The computation of FFO for the year ended December 31, 2011 includes earnings allocated to LIH and the respective weighted average share totals include the LIH shares outstanding as their inclusion is dilutive.

⁽²⁾ Represents an adjustment to compensate for the rounding of the individual calculations and to compensate for earnings allocated to unvested shares.

⁽³⁾ Weighted average diluted shares used to calculate FFO per share for the year ended December 31, 2011 is higher than the GAAP diluted weighted average shares as a result of the dilutive impact of the 11.4 million joint venture units held by LIH which are convertible into our common stock, and also as a result of employee stock options. These convertible units are not included in the diluted weighted average share count for GAAP purposes because their inclusion is anti-dilutive.

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ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following discussion should be read in conjunction with the consolidated financial statements and notes thereto appearing in “Item 8. Financial Statements and Supplementary Data” of this annual report.

Overview

We are a real estate investment trust, or REIT, that owns, manages, acquires, develops and redevelops shopping centers and retail properties located primarily in supply constrained suburban and urban communities. Our principal business objective is to maximize long-term stockholder value by generating sustainable cash flow growth and increasing the long-term value of our real estate assets. To achieve our objective, we lease and manage our shopping centers primarily with experienced, in-house personnel. We acquire shopping centers that either have leading anchor tenants or contain a mix of tenants that reflect the shopping needs of the communities they serve. We also develop and redevelop shopping centers, leveraging existing tenant relationships and geographic and demographic knowledge while seeking to minimize risks associated with land development.

As of December 31, 2012, our consolidated property portfolio comprised 168 properties, including 144 retail properties and six non-retail properties totaling approximately 16.9 million square feet of GLA, 11 development or redevelopment properties with approximately 2.2 million square feet of GLA upon completion, and seven land parcels. As of December 31, 2012, our core portfolio was 92.1% leased and included national, regional and local tenants. Additionally, we had joint venture interests in 18 retail properties and two office buildings totaling approximately 3.3 million square feet of GLA.

In January 2011, we closed on the acquisition of CapCo through a joint venture with LIH. At the time of the acquisition, CapCo owned a portfolio of 13 properties in California totaling approximately 2.6 million square feet of GLA. A more complete description of this acquisition is provided in Note 5 to the consolidated financial statements included in this annual report. In December 2011, we sold 36 shopping centers, comprising 3.9 million square feet of GLA, predominantly located in the Atlanta, Tampa and Orlando markets, with additional properties located in the states of North Carolina, South Carolina, Alabama, Tennessee and Maryland.

Although the economic challenges of the past several years have affected our business, especially in leasing space to smaller shop tenants, we saw increasing interest from prospective small shop tenants in 2012 and are cautiously optimistic that this trend will continue in line with general economic conditions. The majority of our shopping centers are anchored by supermarkets, drug stores or other necessity-oriented retailers, which are less susceptible to economic cycles. As of December 31, 2012, approximately 63% of our shopping centers were supermarket-anchored, which we believe is a competitive advantage because supermarket sales have not been as affected as the sales of many other classes of retailers, and our supermarkets continue to draw traffic to these centers. We also believe the continued diversification of our portfolio, including the reinvestment of proceeds from dispositions into higher quality assets in urban markets, has made us less susceptible to economic downturns and positions us to enjoy the benefits of an improving economy.

We continue to seek opportunities to invest in our primary target markets of California, the northeastern United States, the Washington D.C. metro area, South Florida and Atlanta, Georgia. Also, we actively seek opportunities to develop or redevelop centers in urban markets with strong demographic characteristics and high barriers to entry. We expect to acquire additional assets in our target markets through the use of both joint venture arrangements and our own capital resources, and we expect to finance development and redevelopment activity primarily with our own capital resources or by issuing debt or equity.

Operating Strategies. We derive substantially all of our revenue from tenants under existing leases at our properties. In 2012, gradually improving economic conditions and our diversification into higher quality assets helped us to achieve the following lease results:

• the signing of 207 new leases totaling approximately 719,678 square feet at an average rental rate of $17.52⁽¹⁾ per square foot in 2012 as compared to the prior in-place average rent of $16.48 per square foot, on a same space⁽²⁾ basis, a 6.3% average rent spread;

• the renewal and extension of 274 leases totaling 948,002 square feet at an average rental rate of $17.67⁽¹⁾ per square foot in 2012 as compared to the prior in-place average rent of $16.55 per square foot, on a same space⁽²⁾ basis, a 6.8% average rent spread;

• an increase in core occupancy⁽³⁾ to 92.1% at December 31, 2012 from 90.7% at December 31, 2011; and

• occupancy on a same property basis⁽⁴⁾ increased to 91.9% at December 31, 2012 from 91.4% at December 31, 2011.

^{____________________________________} 

⁽¹⁾ Amount reflects the impact of tenant concessions and work to be performed by us prior to delivery of the space to the tenant.

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⁽²⁾ The "same space" designation is used to compare leasing terms (principally cash leasing spreads) from the prior tenant to the new/current tenant. In some cases, leases and/or premises are excluded from "same space" because the gross leasable area of the prior premises is combined or divided to form a larger or smaller, non-comparable space. Also excluded from the "same space" designation are those leases for which a comparable prior rent is not available due to the acquisition or development of a new center.

⁽³⁾ Our core portfolio excludes non-retail properties, properties held in unconsolidated joint ventures and development and redevelopment properties.

⁽⁴⁾ Information provided on a same-property basis includes the results of properties that we consolidated, owned and operated for the entirety of both periods being compared except for properties for which significant redevelopment or expansion occurred during either of the periods being compared.

In the long-term, our operating revenue is dependent on the continued occupancy of our properties, the rents that we are able to charge to our tenants and the ability of our tenants to make their rental payments. The main long-term threat to our business is our dependence on the viability of our anchor and other tenants. We believe, however, that our general operating risks are mitigated by concentrating our portfolio in high-density urban and suburban communities in major metropolitan areas, leasing to strong tenants in our markets and maintaining a diverse tenant mix.

Investment Strategies. Our investment strategy is to deploy capital in high quality investments and projects in our target markets that are expected to generate attractive, risk-adjusted returns and, at the same time, to sell assets that no longer meet our investment criteria. In 2012, this strategy resulted in:

• the acquisition of five shopping centers located in New York, California and Connecticut representing an aggregate of approximately 520,656 square feet of GLA for an aggregate purchase price of $245.8 million, and the assumption of a related mortgage loan having a principal balance of approximately $18.8 million;

• the acquisition of a retail condominium in New York City with approximately 18,474 square feet of GLA for a purchase price of $27.5 million, and the assumption of a related mortgage loan having a principal balance of $16.7 million;

• the acquisition of a 1.8 acre development site located in the Bronx, New York and a related outparcel for an aggregate purchase price of $9.5 million;

• the acquisition of a warehouse facility adjacent to one of our shopping centers in San Francisco, California with approximately 30,500 square feet of GLA for a purchase price of $5.8 million;

• the acquisition of a 583,262 square foot shopping center in Boston, Massachusetts for $128.4 million through our joint venture with New York Common Retirement Fund ("NYCRF");

• the sale of six non-core assets for aggregate gross proceeds of approximately $71.2 million, resulting in a net gain of $16.6 million;

• investments of $7.5 million in two of our unconsolidated joint ventures in connection with repayments of indebtedness by those joint ventures totaling $21.1 million; and

• a contract to acquire Westwood Complex, a 22-acre property located in Maryland, initially structured as a $95.0 million mortgage loan receivable, which was funded in 2012 and currently bears interest at 5.0% per annum.

Capital Strategies. During 2012, we financed our business using our revolving lines of credit, proceeds from an unsecured term loan, proceeds from the sale of our common stock, proceeds from the sale of unsecured senior notes, proceeds from the sale ofproperties mentioned above, the assumption of mortgage debt in place on acquired properties and various other activities throughout the year including:

• the issuance of 4.1 million shares of our common stock in an underwritten public offering and concurrent private placement that raised proceeds of approximately $85.6 million;

• the closing of a $250.0 million unsecured term loan, which matures in February 2019 and bears interest at an effective weighted average fixed interest rate of 3.17% per annum based on our current credit ratings and through the utilization of interest rate swaps;

• the prepayment of approximately $57.0 million in mortgage debt; and

• the issuance of $300.0 million of 3.75% unsecured senior notes due November 15, 2022, primarily to redeem our $250 million6.25% unsecured notes due December 15, 2014.

At December 31, 2012, the aggregate outstanding balance on our revolving credit facilities was $172.0 million. As of December 31, 2012 the maximum availability under these credit facilities was approximately $496.8 million, net of outstanding letters of credit and subject to the covenants in the loan agreements.

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2013 Outlook. While we expect to see continued gradual improvement in general economic conditions during 2013, the rate of economic recovery has varied across the regions in which we operate. Volatile consumer confidence, increasing competition from larger retailers, internet sales and limited access to capital have continued to pose challenges for small shop tenants, particularly in the Southeast and North and Central Florida. We believe the continued diversification of our portfolio, including the reinvestment of proceeds from dispositions into higher quality assets, should continue to help to mitigate the impact on our business of these challenges and we anticipate that our same-property portfolio occupancy will increase by 50 to 100 basis points in 2013 and our same-property net operating income (as defined in results of operations below) for 2013 will experience an increase as compared to 2012, ranging from 2% to 3%.

We have 1.7 million square feet of GLA in our core portfolio with leases expiring in 2013. We expect to achieve moderate increases in average rent spreads as we renew or re-lease these spaces.

Our financing activities during 2013 could include additional borrowings on our lines of credit, debt and/or equity offerings, creation of joint ventures with institutional partners, and the early repayment of mortgages. We ended 2012 with sufficient cash and availability under our existing unsecured revolving lines of credit to address our near term debt maturities. However, our ability to raise new capital at attractive prices through the issuance of debt and equity securities, the placement of mortgage financings, or the sale of assets will determine our capacity to invest in a manner that provides growing returns for our stockholders. We also intend to continue our capital recycling program in 2013, including the disposition of properties in our secondary markets that no longer fit our investment strategy.

In 2013, we will continue to seek opportunities to invest in our primary target markets of California, the northeastern United States, the Washington D.C. metro area, South Florida and Atlanta, Georgia. We will also look for opportunities to develop or redevelop centers in urban markets with strong demographic characteristics and with high barriers to entry. We expect to acquire additional assets in our target markets through the use of both joint venture arrangements and our own capital resources, and we expect to finance development and redevelopment activity primarily with our own capital resources or by issuing debt or equity.

Critical Accounting Policies and Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America, which we refer to as GAAP, requires management to make estimates and assumptions that in certain circumstances affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities, and revenue and expenses. These estimates are prepared using our best judgment, after considering past and current events and economic conditions. In addition, certain information relied upon by us in preparing such estimates includes internally generated financial and operating information, external market information, when available, and when necessary, information obtained from consultations with third party experts. Actual results could differ from these estimates. A discussion of possible risks which may affect these estimates is included in “Item 1A. Risk Factors” in this annual report. We consider an accounting estimate to be critical if changes in the estimate or accrual results could have a material impact on our consolidated results of operations or financial condition.

Our significant accounting policies are more fully described in Note 2 to the consolidated financial statements; however, the most significant accounting policies, which involve the use of estimates and assumptions as to future uncertainties and, therefore, may result in actual amounts that differ from estimates, are as follows:

Revenue Recognition and Accounts Receivable. Leases with tenants are classified as operating leases. Revenue includes minimum rents, expense recoveries, percentage rental payments and management and leasing services. Generally, our leases contain fixed escalations which occur at specified times during the term of the lease. Lease revenue recognition commences when the lessee is given possession of the leased space, when the asset is substantially complete in the case of leasehold improvements, and there are no contingencies offsetting the lessee’s obligation to pay rent. Minimum rents are recognized on an accrual basis over the terms of the related leases on a straight-line basis. As part of the leasing process, we may provide the lessee with an allowance for the construction of leasehold improvements. Leasehold improvements are capitalized and recorded as tenant improvements and depreciated over the shorter of the useful life of the improvements or the lease term. If the allowance represents a payment for a purpose other than funding leasehold improvements, or in the event we are not considered the owner of the improvements, the allowance is considered a lease incentive and is recognized over the lease term as a reduction to revenue.

Many of our lease agreements contain provisions that require the payment of additional rents based on the respective tenants’ sales volumes (contingent or percentage rent) and substantially all contain provisions that require reimbursement of the tenants’ allocable real estate taxes, insurance and common area maintenance costs (“CAM”). Revenue based on a percentage of a tenant’s sales is recognized only after the tenant exceeds its sales breakpoint. Revenue from tenant reimbursements of taxes, CAM and insurance is recognized in the period that the applicable costs are incurred in accordance with the lease agreements.

We make estimates of the collectability of our accounts receivable using the specific identification method related to base rents, straight-line rents, expense reimbursements and other revenue or income taking into account our experience in the retail sector,

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available internal and external tenant credit information, payment history, industry trends, tenant credit-worthiness and remaining lease terms. In some cases, primarily relating to straight-line rents, the collection of these amounts extends beyond one year. The extended collection period for straight-line rents along with our evaluation of tenant credit risk may result in the deferral of a portion of straight-line rental income until the collection of such income is reasonably assured. These estimates have a direct impact on our earnings.

Recognition of Gains from the Sales of Real Estate. We account for profit recognition on sales of real estate in accordance with the Property, Plant and Equipment Topic of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”). Profits are not recognized until (a) a sale has been consummated; (b) the buyer’s initial and continuing investment is adequate to demonstrate a commitment to pay for the property; (c) our receivable, if any, is not subject to future subordination; (d) we have transferred to the buyer the usual risks and rewards of ownership, and we do not have significant continuing involvement with the property. Recognition of gains from sales to co-investment partnerships is recorded on only that portion of the sales not attributable to our ownership interest.

Real Estate Acquisitions. We allocate the purchase price of acquired properties to land, building, improvements and intangible assets and liabilities in accordance with the Business Combinations Topic of the FASB ASC. We allocate the initial purchase price of assets acquired (net tangible and identifiable intangible assets) and liabilities assumed based on their relative fair values at the date of acquisition. Upon acquisition of real estate operating properties, we estimate the fair value of acquired tangible assets (consisting of land, building, building improvements and tenant improvements) and identified intangible assets and liabilities (consisting of above and below-market leases, in-place leases and tenant relationships), assumed debt and redeemable units issued at the date of acquisition, based on the evaluation of information and estimates available at that date. Based on these estimates, we allocate the estimated fair value to the applicable assets and liabilities. Fair value is determined based on an exit price approach, which contemplates the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. If, up to one year from the acquisition date, information regarding fair value of the assets acquired and liabilities assumed is received and estimates are refined, appropriate adjustments are made to the purchase price allocation on a retrospective basis. There are four categories of intangible assets and liabilities to be considered: (1) in-place leases; (2) above and below-market value of in-place leases; (3) lease origination costs and (4) customer relationships. The aggregate value of other acquired intangible assets, consisting of in-place leases, is measured by the excess of (i) the purchase price paid for a property after adjusting existing in-place leases, including fixed rate renewal options, to market rental rates over (ii) the estimated fair value of the property as-if-vacant, determined as set forth above. The value of in-place leases exclusive of the value of above-market and below-market in-place leases is amortized to depreciation expense over the estimated remaining term of the respective leases. The value of above-market and below-market in-place leases is amortized to rental revenue over the estimated remaining term of the leases. If a lease terminates prior to its stated expiration, all unamortized amounts relating to that lease are written off.

In allocating the purchase price to identified intangible assets and liabilities of an acquired property, the value of above-market and below-market leases is estimated based on the present value of the difference between the contractual amounts, including fixed rate renewal options, to be paid pursuant to the leases and management’s estimate of the market lease rates and other lease provisions (i.e., expense recapture, base rental changes, etc.) measured over a period equal to the estimated remaining term of the lease. The capitalized above-market or below-market intangible is amortized to rental income over the estimated remaining term of the respective lease, which includes the expected renewal option period, if applicable.

Real Estate Properties and Development Assets. The nature of our business as an owner, developer and operator of retail shopping centers means that we invest significant amounts of capital into our properties. Depreciation and maintenance costs relating to our properties constitute substantial costs for us as well as the industry as a whole. We capitalize real estate investments and depreciate them based on estimates of the assets’ physical and economic useful lives. The cost of our real estate investments is charged to depreciation expense over the estimated life of the asset using straight-line rates for financial statement purposes. We periodically review the estimated lives of our assets and implement changes, as necessary, to these estimates and, therefore, to our depreciation rates.

Properties and real estate under development are recorded at cost. We compute depreciation using the straight-line method over the estimated useful lives of up to 55 years for buildings and improvements, the minimum lease term or economic useful life for tenant improvements, and five to seven years for furniture and equipment. Expenditures for ordinary maintenance and repairs are expensed to operations as they are incurred. Significant renovations and improvements, which improve or extend the useful life of assets, are capitalized. The useful lives of amortizable intangible assets are evaluated each reporting period with any changes in estimated useful lives being accounted for over the revised remaining useful life.

Properties also include construction in progress and land held for development. These properties are carried at cost and no depreciation is recorded. Properties undergoing significant renovations and improvements are considered under development. All direct and indirect costs related to development activities, except certain demolition costs which are expensed as incurred, are

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capitalized into properties in construction in progress and land held for development on our consolidated balance sheet. Costs incurred include predevelopment expenditures directly related to a specific project including development and construction costs, interest, insurance and real estate taxes. Indirect development costs include employee salaries and benefits and other related costs that are directly associated with the development of the property. Our method of calculating capitalized interest is based upon applying our weighted average borrowing rate to that portion of actual costs incurred. The capitalization of such expenses ceases when the property is ready for its intended use, but no later than one year from substantial completion of major construction activity. If we determine that a project is no longer probable, all predevelopment project costs are immediately expensed. Similar costs related to properties not under development are expensed as incurred.

Long-Lived Assets. We evaluate the carrying value of long-lived assets, including definite-lived intangible assets, when events or changes in circumstances indicate that the carrying value may not be recoverable in accordance with the Property, Plant and Equipment Topic of the FASB ASC. The carrying value of a long-lived asset is considered impaired when the total projected undiscounted cash flows from such asset is separately identifiable and is less than its carrying value. In that event, a loss is recognized based on the amount by which the carrying value exceeds the fair value of the long-lived asset. For long-lived assets to be held and used, the fair value of fixed (tangible) assets and definite-lived intangible assets is determined primarily using either internal projected cash flows discounted at a rate commensurate with the risk involved or an external appraisal. For long-lived assets to be disposed of by sale or other than by sale, fair value is determined in a similar manner or based on actual sales prices as determined by executed sales contracts, except that fair values are reduced for disposal costs. At December 31, 2012, we reviewed the operating properties and construction in progress for impairment on a property-by-property and project-by-project basis in accordance with the Property, Plant and Equipment Topic of the FASB ASC, as we determined management's capital recycling initiatives and the fair values obtained from recent appraisals to be general indicators of impairment.

Each property was assessed individually and as a result, the assumptions used to derive future cash flows varied by property or project. These key assumptions are dependent on property-specific conditions, are inherently uncertain and consider the perspective of a third-party marketplace participant. The factors that may influence the assumptions include:

• historical project performance, including current occupancy, projected capitalization rates and net operating income;

• competitors’ presence and their actions;

• property specific attributes such as location desirability, anchor tenants and demographics;

• current local market economic and demographic conditions; and

• future expected capital expenditures and the period of time before net operating income is stabilized.

After considering these factors, we project future cash flows for each property based on management’s intention for that property (holding period) and, if appropriate, an assumed sale at the final year of the holding period (reversion value) using a projected capitalization rate. If the resulting carrying amount of the property exceeds the estimated undiscounted cash flows (including the projected reversion value) from the property, an impairment charge would be recognized to reduce the carrying value of the property to its fair value.

Investments in Joint Ventures. We strategically invest in entities that own, manage, acquire, develop and redevelop operating properties. Our partners generally are financial or other strategic institutions. We analyze our joint ventures under the FASB ASC Topics of Consolidation and Real Estate-General in order to determine whether the entity should be consolidated. If it is determined that these investments do not require consolidation because the entities are not variable interest entities ("VIEs") in accordance with the Consolidation Topic of the FASB ASC, we are not considered the primary beneficiary of the entities determined to be VIEs, we do not have voting control, and/or the limited partners (or non-managing members) have substantive participatory rights, then the selection of the accounting method used to account for our investments in unconsolidated joint ventures is generally determined by our voting interests and the degree of influence we have over the entity. Management uses its judgment when determining if we are the primary beneficiary of, or have a controlling interest in, an entity in which we have a variable interest. Factors considered in determining whether we have the power to direct the activities that most significantly impact the entity’s economic performance include risk and reward sharing, experience and financial condition of the other partners, voting rights, involvement in day-to-day capital and operating decisions and the extent of our involvement in the entity.

We use the equity method of accounting for investments in unconsolidated joint ventures when we own 20% or more of the voting interests and have significant influence but do not have a controlling financial interest, or if we own less than 20% of the voting interests but have determined that we have significant influence. Under the equity method, we record our investments in and advances to these entities in our consolidated balance sheets and our proportionate share of earnings or losses earned by the joint venture is recognized in equity in income (loss) of unconsolidated joint ventures in our consolidated statements of operations. We derive revenue through our involvement with unconsolidated joint ventures in the form of management and leasing services and

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interest earned on loans and advances. We account for this revenue gross of our ownership interest in each respective joint venture and record our proportionate share of related expenses in equity in income (loss) of unconsolidated joint ventures.

The cost method of accounting is used for unconsolidated entities in which we do not have the ability to exercise significant influence and we have virtually no influence over partnership operating and financial policies. Under the cost method, income distributions from the partnership are recognized in investment income. Distributions that exceed our share of earnings are applied to reduce the carrying value of our investment and any capital contributions will increase the carrying value of our investment. The fair value of a cost method investment is not estimated if there are no identified events or changes in circumstances that may have a significant adverse effect on the fair value of the investment.

These joint ventures typically obtain non-recourse third-party financing on their property investments, thus contractually limiting our exposure to losses to the amount of our equity investment, and, due to the lender’s exposure to losses, a lender typically will require a minimum level of equity in order to mitigate its risk. Our exposure to losses associated with unconsolidated joint ventures is primarily limited to the carrying value of these investments.

On a periodic basis, we evaluate our investments in unconsolidated entities for impairment in accordance with the Investments-Equity Method and Joint Ventures Topic of the FASB ASC. We assess whether there are any indicators, including underlying property operating performance and general market conditions, that the value of our investments in unconsolidated joint ventures may be impaired. An investment in a joint venture is considered impaired only if we determine that its fair value is less than the net carrying value of the investment in that joint venture on an other-than-temporary basis. Cash flow projections for the investments consider property level factors such as expected future operating income, trends and prospects, as well as the effects of demand, competition and other factors. We consider various qualitative factors to determine if a decrease in the value of our investment is other-than-temporary. These factors include the age of the venture, our intent and ability to retain our investment in the entity, financial condition and long-term prospects of the entity and relationships with our partners and banks. If we believe that the decline in the fair value of the investment is temporary, no impairment charge is recorded. If our analysis indicates that there is an other-than-temporary impairment related to the investment in a particular joint venture, the carrying value of the venture will be adjusted to an amount that reflects the estimated fair value of the investment.

Loans Receivable.Loans receivable include both mortgage loans and mezzanine loans and are classified as held to maturity and recorded at the stated principal amount plus allowable deferred loan costs or fees, which are amortized as an adjustment of the loan’s yield over the term of the related loan. We evaluate the collectability of both interest and principal on the loan periodically to determine whether it is impaired. A loan is considered to be impaired when, based upon current information and events, it is probable that we will be unable to collect all amounts due according to the existing contractual terms. When a loan is considered to be impaired, the amount of loss is calculated by comparing the recorded investment to the value determined by discounting the expected future cash flows at the loan’s effective interest rate or to the proportionate value of the underlying collateral asset if applicable. Interest income on performing loans is accrued as earned.

Goodwill. Goodwill reflects the excess of the fair value of the acquired business over the fair value of net identifiable assets acquired in various business acquisitions. We account for goodwill in accordance with the Intangibles-Goodwill and Other Topic of the FASB ASC. We perform annual, or more frequently in certain circumstances, impairment tests of our goodwill. We have elected to test for goodwill impairment in November of each year. The goodwill impairment test is a two-step process that requires us to make decisions in determining appropriate assumptions to use in the calculation. The first step consists of estimating the fair value of each reporting unit and comparing those estimated fair values with the carrying values, which include the allocated goodwill. If the estimated fair value is less than the carrying value, a second step is performed to compute the amount of the impairment, if any, by determining an “implied fair value” of goodwill. The determination of each reporting unit’s (each property is considered a reporting unit) implied fair value of goodwill requires us to allocate the estimated fair value of the reporting unit to its assets and liabilities. Any unallocated fair value represents the implied fair value of goodwill which is compared to its corresponding carrying amount.

Share Based Compensation and Incentive Awards. We recognize all share-based awards to employees, including grants of stock options, in our financial statements based on fair values. Because there is no observable market for our options, management must make critical estimates in determining the fair value at the grant date. Variations in the assumptions will have a direct impact on our net income. Critical estimates in determining the fair value of options at the grant date include: expected volatility, expected dividend yield, risk-free interest rate, involuntary conversion due to change in control and expected exercise history of similar grants.

Income Tax. Although we may qualify for REIT status for federal income tax purposes, we may be subject to state income or franchise taxes in certain states in which some of our properties are located. In addition, taxable income from non-REIT activities managed through our taxable REIT subsidiaries, or TRSs, are subject to federal, state and local income taxes. Income taxes attributable to DIM and our TRSs are accounted for under the asset and liability method as required under the Income Taxes Topic

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of the FASB ASC. Under the asset and liability method, deferred income taxes are recognized for the temporary differences between the financial reporting basis and the tax basis of the taxable entities’ assets and liabilities and for operating loss and tax credit carry-forwards. The taxable entities estimate income taxes in each of the jurisdictions in which they operate. This process involves estimating our tax exposure together with assessing temporary differences resulting from differing treatment of items, such as depreciation, for tax and accounting purposes. These differences result in deferred tax assets and liabilities, which are included within our consolidated balance sheet. The recording of a net deferred tax asset assumes the realization of such asset in the future. Otherwise a valuation allowance must be recorded to reduce this asset to its net realizable value. We consider future pretax income and ongoing prudent and feasible tax planning strategies in assessing the need for such a valuation allowance. In the event that we determine that we may not be able to realize all or part of the net deferred tax asset in the future, a valuation allowance for the deferred tax asset is charged against income in the period such determination is made. In the case where we determine that the full amount of a tax asset will be realized, a reversal of a valuation is appropriate.

Discontinued Operations. The application of current accounting principles that govern the classification of any of our properties as held-for-sale on our consolidated balance sheets, or the presentation of results of operations and gains on the sale of these properties as discontinued, requires management to make certain significant judgments. In evaluating whether a property meets the criteria set forth by the Property, Plant and Equipment Topic of the FASB ASC, we make a determination as to the point in time that it is probable that a sale will be consummated. It is not unusual for real estate sales contracts to allow potential buyers a period of time to evaluate the property prior to formal acceptance of the contract. In addition, certain other matters critical to the final sale, such as financing arrangements often remain pending even upon contract acceptance. As a result, properties under contract may not close within the expected time period, or may not close at all. Therefore, any properties categorized as held-for-sale represent only those properties that management has determined are probable to close within the requirements set forth in the Property, Plant and Equipment Topic of the FASB ASC. Prior to sale, we evaluate the extent of involvement with, and the significance to us of cash flows from a property subsequent to its sale, in order to determine if the results of operations and gain on sale should be reflected as discontinued. Consistent with the Property, Plant and Equipment Topic of the FASB ASC, any property sold in which we have continuing involvement or cash flows (most often sales to co-investment partnerships) is not considered to be discontinued. In addition, any property which we sell to an unrelated third party, but in which we retain a property or asset management function, is not considered discontinued. Therefore, based on our evaluation of the Property, Plant and Equipment Topic of the FASB ASC only properties sold, or to be sold, to unrelated third parties where we will have no continuing involvement or cash flows are classified as discontinued operations. Certain prior year amounts have been reclassified to conform to the current year presentation.

Segment Information.We review operating and financial data for each property on an individual basis; therefore each of our individual properties is a separate operating segment. We have aggregated our operating segments in six reportable segments based primarily upon our method of internal reporting which classifies our operations by geographical area. Our reportable segments by geographical area are as follows: (1) South Florida – including Miami-Dade, Broward and Palm Beach Counties; (2) North Florida – including all of Florida north of Palm Beach County; (3) Southeast - including Georgia, Louisiana, Alabama, Mississippi, North Carolina, South Carolina and Virginia; (4) Northeast – including Connecticut, Maryland, Massachusetts and New York; (5) West Coast – including California and Arizona; and (6) Other/Non-retail – which comprises our non-retail assets.

Recent Accounting Pronouncements

In May 2011, the FASB issued Accounting Standards Update (“ASU”) 2011-04, "Fair Value Measurement (Topic 820): Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and International Financial Reporting Standards ("IFRSs")." The guidance under ASU 2011-04 amends certain accounting and disclosure requirements related to fair value measurements to ensure that fair value has the same meaning in U.S. GAAP and in IFRS and that their respective fair value measurement and disclosure requirements are the same. This guidance contains certain updates to the measurement guidance as well as enhanced disclosure requirements. The most significant change in disclosures is an expansion of the information required for “Level 3” measurements including enhanced disclosure for: (1) the valuation processes used by the reporting entity and (2) the sensitivity of the fair value measurement to changes in unobservable inputs and the interrelationships between those unobservable inputs, if any. This guidance is effective for interim and annual periods beginning on or after December 15, 2011. We have incorporated the required disclosures where deemed applicable and the adoption and implementation of this ASU did not have a material impact on our results of operations, financial condition or cash flows.

In June 2011, the FASB issued ASU No. 2011-05, “Presentation of Comprehensive Income” which revises the manner in which companies present comprehensive income. Under ASU No. 2011-05, companies may present comprehensive income, which is net income adjusted for the components of other comprehensive income, either in a single continuous statement of comprehensive income or by using two separate but consecutive statements. Regardless of the alternative chosen, companies must display adjustments for items reclassified from other comprehensive income into net income within the presentation of both net income and other comprehensive income. ASU 2011-05 is effective for interim and annual periods beginning after December 15, 2011, on a retrospective basis. In December 2011, the FASB issued ASU No. 2011-12,”Deferral of the Effective Date for Amendments

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to the Presentation of Reclassifications of Items Out of Accumulated Other Comprehensive Income in ASU 2011-05.” ASU 2011-12 defers the requirement that companies present reclassification adjustments for each component of accumulated other comprehensive income in both net income and other comprehensive income on the face of the financial statements. Reclassifications out of accumulated other comprehensive income are to be presented either on the face of the financial statement in which other comprehensive income is presented or disclosed in the notes to the financial statements. Reclassification adjustments into net income need not be presented during the deferral period. This action does not affect the requirement to present items of net income, other comprehensive income and total comprehensive income in a single continuous or two consecutive statements. The effective date for the deferred portion has not yet been determined. When adopted, the deferred portion of the guidance is not expected to materially impact our consolidated financial statements. We have incorporated the required disclosures where deemed applicable and the adoption and implementation of this ASU did not have an impact on our results of operations, financial condition or cash flows.

In September 2011, the FASB issued ASU No. 2011-08, “Testing Goodwill for Impairment(the revised standard)”. Under ASU No. 2011-08 companies have the option to perform a qualitative assessment that may allow them to skip the annual two-step test and reduce costs. The guidance is effective for fiscal years beginning after December 15, 2011. The adoption and implementation of this ASU did not have a material impact on our results of operations, financial condition or cash flows.

In December 2011, the FASB issued ASU No. 2011-10, “Derecognition of in Substance Real Estate”. The amendments in ASU 2011-10 resolve the diversity in practice about whether the guidance in Subtopic 360-20 applies to the derecognition of in substance real estate when the parent ceases to have a controlling financial interest (as described in Subtopic 810-10) in a subsidiary that is in substance real estate because of a default by the subsidiary on its nonrecourse debt. The guidance emphasizes that the accounting for such transactions is based on their substance rather than their form. The amendments in the ASU should be applied on a prospective basis to deconsolidation events occurring after the effective date. Prior periods should not be adjusted even if the reporting entity has continuing involvement with previously derecognized in substance real estate entities. The guidance is effective for fiscal years, and interim periods within those years, beginning on or after June 15, 2012. The adoption and implementation of this ASU did not have a material impact on our results of operations, financial condition or cash flows.

In December 2011, the FASB issued ASU No. 2011-11, “Disclosures about Offsetting Assets and Liabilities”. Under ASU 2011-11 disclosures are required to provide information to help reconcile differences in the offsetting requirements under U.S. GAAP and IFRS. The new disclosure requirements mandate that entities disclose both gross and net information about instruments and transactions eligible for offset in the statement of financial position as well as instruments and transactions subject to an agreement similar to a master netting arrangement. In addition, the ASU requires disclosure of collateral received and posted in connection with master netting agreements or similar arrangements. The guidance is effective for fiscal years, and interim periods within those years, beginning on or after January 1, 2013. We do not believe that the adoption of this ASU will have a material impact on our results of operations, financial condition or cash flows.

In July 2012, the FASB issued Accounting Standards Update No. 2012-02, “Testing Indefinite-Lived Intangible Assets for Impairment (the revised standard)". The revised standard is intended to reduce the cost and complexity of testing indefinite-lived intangible assets, other than goodwill, for impairment. It allows companies to perform a "qualitative" assessment to determine whether further impairment testing of indefinite-lived intangible assets is necessary, similar in approach to the goodwill impairment test. The revised standard is effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012, and earlier adoption is permitted. We do not believe that the adoption of this ASU will have a material impact on our results of operations, financial condition or cash flows.

Results of Operations

We derive substantially all of our revenue from rents received from tenants under existing leases on each of our properties. This revenue includes fixed base rents, recoveries of expenses that we have incurred and that we pass through to the individual tenants and percentage rents that are based on specified percentages of tenants’ revenue, in each case as provided in the particular leases.

Our primary cash expenses consist of our property operating expenses, which include: real estate taxes; repairs and maintenance; management expenses; insurance; utilities; general and administrative expenses, which include payroll, office expenses, professional fees, acquisition costs and other administrative expenses; and interest expense, primarily on mortgage debt, unsecured senior debt, term loans and revolving credit facilities. In addition, we incur substantial non-cash charges for depreciation and amortization on our properties. We also capitalize certain expenses, such as taxes, interest and salaries related to properties under development or redevelopment until the property is ready for its intended use.

Our consolidated results of operations often are not comparable from period to period due to the impact of property acquisitions, dispositions, developments and redevelopments. The results of operations of any acquired property are included in our financial statements as of the date of its acquisition. A large portion of the changes in our statement of operations line items is related to these changes in our property portfolio. In addition, non-cash impairment charges may also affect comparability.

39

Throughout this section, we have provided certain information on a "same-property" basis. Information provided on a same-property basis includes the results of properties that we consolidated, owned and operated for the entirety of both periods being compared except for properties for which significant redevelopment or expansion occurred during either of the periods being compared. For the year ended December 31, 2012, we moved three properties totaling approximately 541,000 square feet out of the same property pool into redevelopment.

Net operating income ("NOI") is a non-GAAP financial measure. The most directly comparable GAAP financial measure is (loss) income from continuing operations before tax and discontinued operations, which, to calculate NOI, is adjusted to add back amortization of deferred financing fees, rental property depreciation and amortization, interest expense, impairment losses and general and administrative expense, and to exclude revenue earned from management and leasing services, straight line rent adjustments, accretion of below market lease intangibles (net), gain on sale of real estate, equity in income (loss) of unconsolidated joint ventures, gain on bargain purchase and acquisition of controlling interest in subsidiary, (loss) gain on extinguishment of debt, investment income, and other income. We use NOI internally as a performance measure and believe NOI provides useful information to investors regarding our financial condition and results of operations because it reflects only those income and expense items that are incurred at the property level. Our management also uses NOI to evaluate regional property level performance and to make decisions about resource allocations. Further, we believe NOI is useful to investors as a performance measure because, when compared across periods, NOI reflects the impact on operations from trends in occupancy rates, rental rates, operating costs and acquisition and disposition activity on an unleveraged basis, providing perspective not immediately apparent from (loss) income from continuing operations before tax and discontinued operations. NOI excludes certain components from net income attributable to Equity One, Inc. in order to provide results that are more closely related to a property's results of operations. For example, interest expense is not necessarily linked to the operating performance of a real estate asset and is often incurred at the corporate level as opposed to the property level. In addition, depreciation and amortization, because of historical cost accounting and useful life estimates, may distort operating performance at the property level. NOI presented by us may not be comparable to NOI reported by other REITs that define NOI differently. We believe that in order to facilitate a clear understanding of our operating results, NOI should be examined in conjunction with (loss) income from continuing operations before tax and discontinued operations as presented in our consolidated financial statements. NOI should not be considered as an alternative to (loss) income from continuing operations before tax and discontinued operations as an indication of our performance or to cash flows as a measure of liquidity or our ability to make distributions.

We review operating and financial data, primarily NOI, for each property on an individual basis; therefore each of our individual properties is a separate operating segment. We have aggregated our operating segments into six reportable segments based primarily upon our method of internal reporting which classifies our operations by geographical area. Our reportable segments by geographical area are as follows: South Florida, North Florida, Southeast, Northeast, West Coast and Other/Non-retail. See Part II and Note 20 in the consolidated financial statements of this annual report for more information about our business segments, recent changes in segment structure, and the geographic diversification of our portfolio of properties, and for a reconciliation of NOI to (loss) income from continuing operations before tax and discontinued operations for the fiscal years 2012, 2011 and 2010.

Same-Property NOI and Occupancy Information

Same-property NOI increased by $5.2 million, or 3.3%, for the year ended December 31, 2012. The increase in same-property NOI for the year ended December 31, 2012 was primarily driven by a net increase in minimum rent due to rent commencements (net of concessions and abatements) and contractual rent increases and a decrease in bad debt expense.

40

Same-property net operating income is reconciled to net operating income as follows:

	For the year ended December 31,
	2012			2011
	(In thousands)
Same-property net operating income	$	163,795		$	158,619
Adjustments (1)	(569		)	385
Same-property net operating income before adjustments	$	163,226		$	159,004
Non same-property net operating income	51,867			27,203
Less: Properties included in the same property pool but shown as discontinued operations in the consolidated statement of operations	(6,360		)	(6,217		)
Net operating income (2)	$	208,733		$	179,990

^{___________________________________________________} 

⁽¹⁾ Includes adjustments for items that affect the comparability of the same property results. Such adjustments include: common area maintenance costs related to a prior period, revenue and expenses associated with outparcels sold, settlement of tenant disputes, or other similar matters that affect comparability.

⁽²⁾ A reconciliation of net operating income to (loss) income from continuing operations before tax and discontinued operations is provided in Note 20 to the consolidated financial statements included in this annual report, which is incorporated herein by reference.

Same-property net operating income by geographical segment was as follows:

	For the year ended December 31,
	2012		2011
South Florida	$	51,144	$	49,876
North Florida	28,114		27,665
Southeast	38,048		37,159
Northeast	15,949		15,787
West Coast	30,540		28,132
Same-property net operating income	$	163,795	$	158,619

The following table reflects our same-property occupancy and same-property GLA (in square feet) information by segment as of December 31:

	Occupancy						GLA as of
	2012		2011		% Change		December 31, 2012
							(In thousands)
South Florida	92.9	%	92.3	%	0.6	%	4,420
North Florida	88.1	%	86.9	%	1.2	%	3,098
Southeast	90.4	%	90.8	%	(0.4	)%	4,800
Northeast	98.6	%	98.4	%	0.2	%	1,396
West Coast	94.6	%	92.7	%	1.9	%	2,037
Same-property shopping center portfolio occupancy	91.9	%	91.4	%	0.5	%	15,751
Non-retail	73.2	%	74.8	%	(1.6	)%	415
							16,166

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Comparison of the Year Ended December 31, 2012 to 2011

The following summarizes certain line items from our audited consolidated statements of operations that we believe are important in understanding our operations and/or those items which significantly changed in 2012 as compared to the same period in 2011:

	For the year ended December 31,
	2012			2011		% Change
	(In thousands)
Total revenue	$	325,611		$	280,208	16.2	%
Property operating expenses	87,645			79,126		10.8	%
Rental property depreciation and amortization	86,006			81,446		5.6	%
General and administrative expenses	42,474			50,976		(16.7	)%
Investment income	7,248			4,342		66.9	%
Equity in income of unconsolidated joint ventures	542			4,829		(88.8	)%
Interest expense	72,175			68,964		4.7	%
Gain on bargain purchase	—			30,561		NM*
Gain on sale of real estate	—			5,541		NM*
Loss on extinguishment of debt	29,153			2,175		NM*
Impairment loss	22,772			19,158		18.9	%
Income tax benefit of taxable REIT subsidiaries	2,503			5,064		(50.6	)%
Income from discontinued operations	13,980			16,319		(14.3	)%
Net income	7,225			43,218		(83.3	)%
Net (loss) income attributable to Equity One, Inc.	(3,477		)	33,621		(110.3	)%

___________ 

* NM = not meaningful

Total revenue increased by $45.4 million, or 16.2%, to $325.6 million in 2012 from $280.2 million in 2011. The increase is primarily attributable to the following:

• an increase of approximately $40.4 million associated with properties acquired in 2012 and 2011;

• a net increase of $3.5 million in same-property revenue due to increased occupancy, higher percentage rent, and an increase in expense recovery income primarily due to higher recoverable expenses;

• an increase of approximately $2.4 million in revenue related to development and redevelopment projects which were under construction in 2011 but were income producing in 2012; and

• an increase of approximately $435,000 related to management and leasing fees earned from our joint venture with NYCRF relating to its property acquisition and financing activities in late 2011 and early 2012; partially offset by

• a decrease of $1.3 million related to assets sold to our NYCRF joint venture in 2011.

Property operating expenses increased by $8.5 million, or 10.8%, to $87.6 million in 2012 from $79.1 million in 2011. The increase primarily consisted of the following:

• an increase of approximately $9.5 million associated with properties acquired in 2012 and 2011;

• an increase of approximately $525,000 related to a legal settlement in the first quarter of 2012; and

• an increase of $135,000 in operating expenses at various development and redevelopment project sites that were under construction in 2012; partially offset by

• a net decrease of approximately $1.2 million in same-property expenses primarily attributable to lower bad debt expense and external management fees, partially offset by increased insurance expense and real estate taxes; and

• a decrease of $390,000 in expenses related to assets sold to our NYCRF joint venture in 2011.

Rental property depreciation and amortization increased by $4.6 million, or 5.6%, to $86.0 million for 2012 from $81.4 million in 2011. The increase was primarily related to the following:

• an increase of approximately $12.5 million related to depreciation on properties acquired in 2012 and 2011; and

• an increase of approximately $3.4 million related to new depreciable assets added during 2011 and 2012 and accelerated depreciation of assets razed as part of redevelopment projects; partially offset by

42

• a net decrease of approximately $6.6 million primarily related to assets fully depreciated in 2011 as a result of tenant vacancies;

• a decrease of approximately $4.2 million due to assets becoming fully depreciated during 2012 and 2011; and

• a decrease of $525,000 due to the disposition of assets sold to our NYCRF joint venture in 2011.

General and administrative expenses decreased by $8.5 million, or 16.7%, to $42.5 million for 2012 from $51.0 million in 2011. The decrease in 2012 was primarily related to the following:

• a decrease of approximately $5.6 million related to legal, consulting, and other costs associated with acquisitions, dispositions and the exploration of other potential transactions, primarily related to transactions completed in 2011;

• a decrease of approximately $2.0 million due to a legal settlement in 2011;

• a decrease of approximately $1.0 million in severance primarily due to amounts paid to former CapCo employees in 2011; and

• a decrease of approximately $330,000 due to lower leasing costs and leasing commissions; partially offset by

• a net increase in professional services fees and office operational costs of approximately $200,000 primarily due to information technology consulting services; and

• an increase of $120,000 in fees paid to directors as a result of the grant and acceleration of restricted stock awards to a retiring director and higher stock compensation expense for 2012 grants to directors.

We recorded investment income of $7.2 million in 2012 compared to $4.3 million in 2011. The increase was due to interest income from mortgage loan investments made in 2011 and 2012; partially offset by a decrease in interest earned on bridge loans made to unconsolidated joint ventures that were repaid in 2011.

We recorded equity in income of unconsolidated joint ventures of $542,000 in 2012 compared to $4.8 million in 2011. The decrease was primarily a result of the sale of Pacific Financial Center by an unconsolidated joint venture in the third quarter of 2011 and lower income recognized in the joint ventures due to tenants vacating and associated accelerated depreciation of tenant specific assets.

Interest expense increased by $3.2 million, or 4.7%, to $72.2 million in 2012 from $69.0 million in 2011. The increase was primarily attributable to the following:

• an increase of approximately $6.8 million associated with the $250.0 million term loan that was entered into in 2012; and

• an increase of approximately $2.4 million primarily associated with mortgage assumptions in 2012 and 2011 related to acquisitions; partially offset by

• a decrease of approximately $3.6 million associated with lower mortgage interest due to mortgages paid off during 2012 and 2011; and

• a decrease of $2.4 million due to higher capitalized interest as a result of major development projects.

The gain on bargain purchase of $30.6 million recognized in 2011 was generated from our acquisition of a controlling interest in CapCo. No comparable amounts are included in 2012.

We recorded a gain on sale of real estate of $5.5 million in 2011 attributable to additional consideration earned related to the sale of an outparcel to our GRI-EQY I, LLC joint venture, resulting in a gain of approximately $3.6 million, the sale of two operating properties to our joint venture with NYCRF resulting in a gain of approximately $971,000, and the sale of two outparcels to unrelated third parties resulting in a gain of approximately $967,000.

In 2012, we recognized a loss on early extinguishment of debt of $29.2 million, primarily consisting of a make-whole premium and deferred fees and costs of $29.6 million associated with the redemption of all of our $250 million6.25% unsecured senior notes, which were scheduled to mature on December 15, 2014. During 2011, we prepaid $146.8 million principal amount of our mortgages (excluding the Serramonte mortgage that was repaid at the closing of the CapCo transaction) and recognized a net loss from early extinguishment of debt related to continuing operations of approximately $2.2 million.

We recorded impairment losses in continuing operations for 2012 and 2011 of approximately $22.8 million and $19.2 million, respectively. The 2012 impairment loss consisted of $22.2 million of impairment charges related to land held for development and income producing properties and $525,000 in goodwill impairment losses associated with properties primarily in the Southeast and North Florida regions. The 2011 impairment loss included $18.2 million of impairments related to land held for development and income producing properties and $1.0 million of goodwill impairment losses associated with properties primarily in the Southeast and South Florida regions.

43

We recorded income tax benefits from continuing operations for 2012 of $2.5 million compared to $5.1 million for 2011. The tax benefits in 2012 and 2011 were primarily due to impairment losses recorded by our taxable REIT subsidiaries.

For 2012, we recorded net income from discontinued operations of $14.0 million compared to net income of $16.3 million for 2011. The decrease is primarily attributable to the following:

• an income tax benefit of $29.6 million relating to properties that were sold in 2011 with no comparable benefit in 2012; and

• a decrease of $16.5 million in operating income from sold or held-for-sale properties; partially offset by

• a decrease of $31.5 million in impairment losses on assets held for sale; and

• an increase of $12.2 million related to net gains from the disposition of operating properties.

As a result of the foregoing, net income decreased by $36.0 million to $7.2 million for 2012 from $43.2 million in 2011. Net (loss) income attributable to Equity One, Inc. decreased by $37.1 million to a loss of $3.5 million for 2012 compared to income of $33.6 million in 2011.

Comparison of the Year Ended December 31, 2011 to 2010

The following summarizes certain line items from our audited consolidated statements of operations that we believe are important in understanding our operations and/or those items which significantly changed in 2011 as compared to the same period in 2010:

	For the year ended December 31,
	2011			2010			% Change
	(In thousands)
Total revenue	$	280,208		$	218,009		28.5	%
Property operating expenses	79,126			60,593			30.6	%
Rental property depreciation and amortization	81,446			48,294			68.6	%
General and administrative expenses	50,976			41,360			23.2	%
Investment income	4,342			930			366.9	%
Equity in income (loss) of unconsolidated joint ventures	4,829			(116		)	NM*
Interest expense	68,964			62,734			9.9	%
Gain on bargain purchase	30,561			—			NM*
Gain on sale of real estate	5,541			254			NM*
(Loss) gain on extinguishment of debt	(2,175		)	33			NM*
Impairment loss	(19,158		)	(464		)	NM*
Income tax benefit of taxable REIT subsidiaries	5,064			1,724			193.7	%
Income from discontinued operations	16,319			18,273			(10.7	)%
Net income	43,218			24,419			77.0	%
Net income attributable to Equity One, Inc.	33,621			25,112			33.9	%

___________

 * NM = not meaningful

Total revenue increased by $62.2 million, or 28.5%, to $280.2 million in 2011 from $218.0 million in 2010. The increase is primarily attributable to the following:

• an increase of approximately $64.2 million associated with properties acquired in 2010 and 2011; and

• an increase of approximately $730,000 associated with management, leasing and asset management services provided to our joint ventures, including an acquisition fee of approximately $310,000 related to our then new joint venture with NYCRF; partially offset by

• a net decrease of approximately $2.0 million related to various development and redevelopment projects which were under construction in 2011 or 2010;

• a decrease of $410,000 in same-property revenue due to lower occupancy and the impact of rent concessions and abatements; and

• a decrease of $380,000 due to properties contributed to our joint venture with NYCRF.

44

Property operating expenses increased by $18.5 million, or 30.6%, to $79.1 million in 2011 from $60.6 million in 2010. The increase primarily consisted of the following:

• an increase of approximately $19.1 million associated with properties acquired in 2011 and 2010; and

• an increase of approximately $300,000 related to higher snow removal costs; partially offset by

• a net decrease of approximately $900,000 in same-property and land expenses, primarily attributable to lower real estate taxes.

Rental property depreciation and amortization increased by $33.2 million, or 68.6%, to $81.4 million for 2011 from $48.3 million for 2010. The increase was primarily related to the following:

• an increase of approximately $28.3 million related to depreciation on properties acquired in 2011 and 2010; and

• an increase of approximately $4.9 million related to accelerated depreciation recognized in 2011 related to tenant vacancies.

General and administrative expenses increased by $9.6 million, or 23.2%, to $51.0 million in 2011 from $41.4 million in 2010. The increase was primarily related to the following:

• an increase of approximately $3.4 million due to additional personnel related costs, in part, resulting from the acquisition of CapCo and compensation expense related to a long-term share based incentive plan established in the first quarter of 2011 for certain executives;

• an increase of approximately $2.0 million due to a legal settlement;

• an increase of approximately $1.9 million related to legal, consulting, and other costs associated with our acquisitions and dispositions in 2011 and the exploration of other potential transactions;

• an increase of approximately $1.4 million in office operating expenses primarily due to higher office rent and technical support attributable to our then new offices in New York and California; and

• an increase of approximately $1.0 million in severance costs primarily related to former CapCo employees.

We recorded investment income of $4.3 million in 2011 compared to $930,000 in 2010. The increase was primarily related to interest earned on bridge loans made to unconsolidated joint ventures and on a mortgage loan investment made in 2011.

We recorded equity in income of unconsolidated joint ventures of $4.8 million in 2011 compared to a net loss of $116,000 in 2010. The increase is primarily due to the sale of Pacific Financial Center resulting in a gain of $4.3 million, new unconsolidated joint ventures formed in December 2010 and the unconsolidated joint ventures acquired as part of the CapCo transaction in 2011.

Interest expense increased by $6.2 million, or 9.9% to $69.0 million in 2011 from $62.7 million in 2010. The increase is primarily attributable to the following:

• an increase of approximately $8.3 million primarily associated with mortgage assumptions in 2010 and 2011 related to acquisitions; and

• an increase of approximately $2.3 million associated with higher interest expense due to a higher average balance outstanding under our line of credit and bank fees incurred in connection with the extension and expansion of our line of credit; partially offset by

• a decrease of approximately $4.4 million associated with lower mortgage interest due to mortgages paid off during 2010 and 2011.

The gain on bargain purchase of $30.6 million recognized in 2011 was generated from our acquisition of a controlling interest in CapCo. No comparable amounts are included in 2010. The gain represents the difference between fair value of the net assets acquired of $310.4 million and the fair value of the consideration paid and noncontrolling interest of $279.8 million. For a more complete description of the fair value measurement see Note 5 to the consolidated financial statements included in this annual report.

We recorded a gain on sale of real estate of $5.5 million for 2011 compared to $254,000 in 2010. The 2011 gain is attributable to additional consideration earned related to the sale of an outparcel to our GRI-EQY I, LLC joint venture resulting in a gain of approximately $3.6 million, the sale of two operating properties to our joint venture with NYCRF resulting in a gain of approximately $971,000, and the sale of two outparcels to unrelated third parties resulting in a gain of approximately $967,000. The 2010 gain was primarily related to the disposition of two undeveloped land parcels to unrelated third parties.

During 2011, we prepaid $146.8 million principal amount of our mortgages (excluding the Serramonte mortgage that was repaid at the closing of the CapCo transaction) and recognized a net loss from early extinguishment of debt related to continuing operations

45

of $2.2 million. During 2010, we prepaid $61.2 million principal amount of our mortgages and recognized a net gain from early extinguishment of debt of $33,000.

We recorded impairment losses in continuing operations in 2011 and 2010 of approximately $19.2 million and $464,000, respectively. The 2011 impairment loss included $18.2 million of impairments related to land held for development and income producing properties and $1.0 million of goodwill impairment losses associated with properties primarily in the Southeast and South Florida regions. The 2010 impairment loss was attributable to goodwill impairments.

We recorded income tax benefits from continuing operations for 2011 and 2010 of $5.1 million and $1.7 million, respectively. The increase in tax benefit was primarily due to tax benefits resulting from impairment losses recorded by our taxable REIT subsidiaries and an increase in the net operating losses of these subsidiaries.

For 2011, we recorded net income from discontinued operations of $16.3 million compared to net income of $18.3 million for 2010. The decrease is primarily attributable to the following:

• an increase of $38.0 million in impairment losses for assets held for sale; partially offset by

• an increase in tax benefits of $27.5 million primarily attributable to the reversal of a deferred tax liability associated with properties held for sale by our taxable REIT subsidiaries;

• an increase of $6.3 million in operating income from sold or held-for-sale properties; and

• an increase of $2.2 million related to net gains from sales of 42 operating properties and two operating land outparcels.

As a result of the foregoing, net income increased by $18.8 million, to $43.2 million for 2011 from $24.4 million in 2010. Net income attributable to Equity One, Inc. increased by $8.5 million to $33.6 million for 2011 compared to $25.1 million in 2010.

Reportable Segments

The following tables set forth the financial information relating to our operations presented by segments:

	Year Ended December 31,
	2012		2011		2010
	(In thousands)
Revenue:
South Florida	$	91,398	$	86,203	$	87,150
North Florida	43,944		45,973		44,500
Southeast	47,694		46,654		46,739
Northeast	53,197		35,997		30,387
West Coast	67,583		48,940		—
Non-retail	2,788		2,846		903
Total segment revenue	$	306,604	$	266,613	$	209,679
Add:
Straight line rent adjustment	3,837		2,377		2,018
Accretion of below market lease intangibles, net	12,681		8,931		4,755
Management and leasing services	2,489		2,287		1,557
Total revenue	$	325,611	$	280,208	$	218,009
Net operating income (NOI):
South Florida	$	61,577	$	57,008	$	56,741
North Florida	30,877		31,772		31,028
Southeast	33,685		32,574		32,854
Northeast	36,639		25,608		21,905
West Coast	44,597		31,921		—
Non-retail	1,358		1,107		150
Total NOI	$	208,733	$	179,990	$	142,678

46

For a reconciliation of NOI to (loss) income from continuing operations before tax and discontinued operations, see Note 20 to the consolidated financial statements included in this annual report, which is incorporated herein by reference.

Fiscal year 2012 compared to Fiscal year 2011 – Segments

South Florida: Revenue increased by 6.0%, or $5.2 million, to $91.4 million for 2012 from $86.2 million for 2011. NOI for South Florida increased by 8.0%, or $4.6 million, to $61.6 million for 2012 from $57.0 million for 2011. Revenue increased due to our acquisition of Aventura Square, increased occupancy and higher rent from contractual rent increases and new rent commencements, as well as an increase in percentage rent primarily from anchor tenants. These increases in revenue were partially offset by decreases in revenue due to the sale of two properties to our NYCRF joint venture during 2011 and lower lease termination fees received in 2012. The increase in NOI was a result of our acquisition of Aventura Square and increased rental revenue, partially offset by the sale of two properties to our NYCRF joint venture.

North Florida: Revenue decreased by 4.4%, or $2.0 million, to $43.9 million for 2012 from $46.0 million for 2011. NOI decreased by 2.8%, or $895,000, to $30.9 million for 2012 from $31.8 million for 2011. Revenue decreased due to a decline in occupancy at our properties under redevelopment, higher lease termination fees received in 2011, lower percentage rent and a decrease in expense recovery income resulting from lower recoverable operating expenses. The decrease in NOI was a result of the decrease in revenue, partially offset by decreases in recoverable operating expenses, bad debt expense and real estate tax expense.

Southeast: Revenue increased by 2.2%, or $1.0 million, to $47.7 million for 2012 from $46.7 million for 2011. NOI increased by 3.4%, or $1.1 million, to $33.7 million for 2012 from $32.6 million for 2011. The increase in revenue was primarily a result of higher minimum rent from new rent commencements and contractual rent increases, and higher expense recovery income due to an increase in expense recovery ratios. The increase in NOI was a result of the increased revenue, lower non-retail property operating expenses, and lower bad debt expense.

Northeast: Revenue increased by 47.8%, or $17.2 million, to $53.2 million for 2012 from $36.0 million for 2011. NOI increased by 43.1%, or $11.0 million, to $36.6 million for 2012 from $25.6 million for 2011. The increase in both revenue and NOI was primarily a result of our 2011 and 2012 acquisitions of Compo Acres, Danbury Green, Southbury Green, Post Road Plaza, 90-30 Metropolitan, 161 W. 16th Street, Clocktower Plaza and 1225-1239 Second Avenue and rent commencements associated with the opening of The Gallery at Westbury Plaza as well as those at our same site properties. The increase in NOI from acquisitions was partially offset by an increase in non-recoverable property operating expenses due primarily to the settlement of a tenant dispute during 2012 which resulted in a $525,000 expense in the first quarter of 2012.

West Coast: Revenue increased by 38.1%, or $18.6 million, to $67.6 million for 2012 from $48.9 million for 2011. NOI increased by 39.7%, or $12.7 million, to $44.6 million for 2012 from $31.9 million for 2011. The increase in revenue was primarily attributable to our acquisitions of Culver Center, Potrero, Ralph's Circle Center, Von's Circle Center and Circle Center West, new rent commencements and an increase in expense recovery income resulting from higher recoverable operating expenses and increased occupancy. The increase in NOI was primarily attributable to our acquisitions and increased revenue, partially offset by higher operating expenses and real estate taxes.

Non-retail: Revenue decreased by $58,000 to $2.8 million for 2012 from $2.8 million for 2011. NOI increased by $251,000 to $1.4 million for 2012 from $1.1 million for 2011. The decrease in revenue was primarily due to lower expense recovery income. The increase in NOI was due to a decrease in operating expenses, partially offset by the decrease in revenue.

Fiscal year 2011 compared to Fiscal year 2010 – Segments

South Florida: Revenue decreased by 1.1%, or $947,000, to $86.2 million for 2011 from $87.2 million for 2010. NOI for South Florida increased by 0.5%, or $267,000, to $57.0 million for 2011 from $56.7 million for 2010. Revenue decreased due to higher lease termination fees received in 2010, a slight decrease in occupancy and a decrease in expense recovery income in 2011 due to a decrease in recoverable expenses, partially offset by an increase in revenue from property acquisitions and a decrease in rent concessions. The slight increase in NOI was as a result of NOI from property acquisitions, a decrease in recoverable expenses, a decrease in bad debt expense and tenant related legal expenses partially offset by the decrease in revenue.

North Florida: Revenue increased by 3.3%, or $1.5 million, to $46.0 million for 2011 from $44.5 million for 2010. NOI increased by 2.4%, or $744,000, to $31.8 million for 2011 from $31.0 million for 2010. The increase in revenue was due to higher minimum rent as a result of prior year acquisitions and higher lease termination fees received in 2011. The increase in NOI was a result of the effect of prior year acquisitions and a decrease in tenant related legal expenses, partially offset by higher bad debt expense and real estate taxes.

Southeast: Revenue decreased by 0.2%, or $85,000, to $46.7 million for 2011 from $46.7 million for 2010. NOI decreased by 0.9%, or $280,000, to $32.6 million for 2011 from $32.9 million for 2010. The decrease in revenue was due to lower minimum

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rent and expense recovery income related to a property under redevelopment; partially offset by an increase in occupancy from our same site properties. The decrease in NOI was a result of the decrease in revenue and higher bad debt expense.

Northeast: Revenue increased by 18.5%, or $5.6 million, to $36.0 million for 2011 from $30.4 million for 2010. NOI increased by 16.9%, or $3.7 million, to $25.6 million for 2011 from $21.9 million for 2010. The increase in both revenue and NOI was primarily a result of contractual rent increases and property acquisitions in both 2010 and 2011.

West Coast: Revenue and NOI were $48.9 million and $31.9 million, respectively, for 2011. All of our West Coast properties were acquired in 2011.

Non-retail: Revenue increased by $1.9 million to $2.8 million for 2011 from $903,000 for 2010. NOI increased by $1.0 million to $1.1 million for 2011 from $150,000 for 2010. The increases are primarily due to the acquisition of additional non-retail properties in connection with the CapCo acquisition in 2011.

Liquidity and Capital Resources

Due to the nature of our business, we typically generate significant amounts of cash from operations; however, the cash generated from operations is primarily paid to our stockholders in the form of dividends. Our status as a REIT requires that we distribute 90% of our REIT taxable income (excluding net capital gains) each year, as defined in the Code.

Short-term liquidity requirements

Our short-term liquidity requirements consist primarily of normal recurring operating expenses, regular debt service requirements (including debt service relating to additional or replacement debt, as well as scheduled debt maturities), recurring company expenditures, such as general and administrative expenses, non-recurring company expenditures (such as tenant improvements and redevelopments and acquisition expenses) and dividends to common stockholders. We have satisfied these requirements through cash generated from operations and from financing and investing activities.

As of December 31, 2012, we had approximately $27.4 million of cash and cash equivalents available. In addition, we had two revolving credit facilities providing for borrowings of up to $590.0 million of which $496.8 million was available to be drawn based on financial covenants contained in those facilities. As of December 31, 2012, we had $172.0 million drawn under our $575.0 million credit facility, which bore interest at 1.77% at such date, and had no borrowings outstanding under our $15.0 million credit facility.

During 2013, we have approximately $30.7 million in debt maturities in addition to normal recurring principal amortization payments. Additionally, we are actively searching for acquisition and joint venture opportunities that may require additional capital and/or liquidity. Our available cash and cash equivalents, revolving credit facilities, and cash from property dispositions will be used to fund prospective acquisitions as well as our debt maturities and normal operating expenses. Subsequent to year end, we closed on the sale of eight properties located in the Southeast and North Florida regions for a purchase price of $81.3 million and concurrently prepaid $2.8 million in mortgage loans, which bore interest at 6.85%. The operations of these properties are included in discontinued operations in the accompanying consolidated financial statements for all the periods presented and the related assets and liabilities are presented as held for sale in our consolidated balance sheets at December 31, 2012 and 2011.

In October 2012, we entered into a contract to acquire the Westwood Complex, a 22-acre property located in Maryland, consisting of 214,767 square feet of retail space, a 211,020 square foot apartment building and a 62-unit assisted living facility. The transaction was initially structured as a $95.0 million mortgage loan receivable, which was funded in October 2012 and currently bears interest at 5.0% per annum, and will be completed with an outright purchase of the property for $140.0 million with an anticipated closing prior to January 2014. We anticipate financing the remaining $45.0 million (which represents the portion not financed by the mortgage investment) with cash on hand, proceeds from dispositions and through the use of our lines of credit.

As part of our strategy to upgrade and diversify our portfolio and recycle our existing capital, we are currently evaluating opportunities to sell 26 non-core properties, of which nine properties are under contract for an estimated gross sales price of approximately $61.0 million.

Long-term liquidity requirements

Our long-term capital requirements consist primarily of maturities of various long-term debts, development and redevelopment costs and the costs related to growing our business, including acquisitions.

An important component of our growth strategy is the redevelopment of properties within our portfolio and the development of new shopping centers. At December 31, 2012, we had invested approximately $169.6 million in development or redevelopment

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projects at various stages of completion and anticipate these projects will require an additional $91.5 million to complete, based on our current plans and estimates, and which we anticipate will be expended over the next three years.

Historically, we have funded these requirements through a combination of sources that were available to us, including additional and replacement secured and unsecured borrowings, proceeds from the issuance of additional debt or equity securities, capital from institutional partners that desire to form joint venture relationships with us and proceeds from property dispositions.

The following is a summary of our 2012 financing and investing initiatives completed during the year:

• Equity Offering. We issued 4.1 million shares of our common stock in an underwritten public offering and concurrent private placement that raised proceeds of approximately $85.6 million;

• Debt. We closed on a $250.0 million unsecured term loan, which matures in February 2019 and bears interest at an effective weighted average fixed interest rate of 3.17% per annum based on our current credit ratings and through the utilization of interest rate swaps. We issued $300.0 million of 3.75% unsecured senior notes due November 15, 2022, primarily to redeem our $250 million6.25% unsecured notes due December 15, 2014. We prepaid $57.0 million in mortgage debt as of December 31, 2012;

• Property Sales. We sold six non-core assets generating proceeds of $71.2 million;

• Property Acquisitions. We acquired nine properties for an aggregate purchase price of $288.5 million, which included approximately $35.5 million in assumed mortgages, with interest rates between 5.37% and 6.33% per annum;

• Unconsolidated Joint Ventures. On January 26, 2012, our NYCRF joint venture made an $18.5 million mortgage loan secured by a newly developed shopping center. In addition to the loan made by the joint venture, we provided a mezzanine loan indirectly secured by the shopping center in the amount of $19.3 million. In December 2012, our NYCRF joint venture exercised a purchase option to acquire the shopping center for $128.4 million and the mezzanine loan of $19.3 million was repaid in connection with the joint venture's purchase of the property. Additionally, we made investments of $7.5 million in two of our unconsolidated joint ventures in connection with repayments of indebtedness by those joint ventures totaling $21.1 million; and

• Loans Receivable. In October 2012, we entered into a contract to acquire a 22-acre property located in Maryland initially structured as a $95.0 million mortgage loan receivable as described above.

The following significant financing and investment activities have taken place subsequent to December 31, 2012: (i) we closed on the sale of eight properties located in the Southeast and North Florida regions for a purchase price of $81.3 million and (ii) concurrently prepaid $2.8 million in mortgage loans, which bore interest at 6.85%.

We believe that we have access to capital resources necessary to operate, expand and develop our business. As a result, we intend to operate with, and maintain, a conservative capital structure that will allow us to maintain strong debt service coverage and fixed-charge coverage ratios.

While we believe that cash generated from operations, borrowings under our unsecured revolving credit facilities and our access to other, longer term capital sources will be sufficient to meet our short-term and long-term liquidity requirements, there are risks inherent in our business, including those risks described in Item 1A - “Risk Factors,” that may have a material adverse effect on our cash flow, and, therefore, on our ability to meet these requirements.

Summary of Cash Flows. The following summary discussion of our cash flows is based on the consolidated statements of cash flows and is not meant to be an all-inclusive discussion of the changes in our cash flows for the periods presented below.

	For the year ended December 31,
	2012			2011			Increase (Decrease)
	(In thousands)
Net cash provided by operating activities	$	153,219		$	102,626		$	50,593
Net cash used in investing activities	$	(332,263	)	$	(44,615	)	$	(287,648	)
Net cash provided by (used in) financing activities	$	195,497		$	(108,793	)	$	304,290

Our principal source of operating cash flow is cash generated from our rental properties. Our properties provide a relatively consistent stream of rental income that provides us with resources to fund operating expenses, general and administrative expenses, debt service and quarterly dividends. Net cash provided by operating activities totaled $153.2 million for 2012 compared to $102.6 million for 2011. The increase of $50.6 million is primarily attributable to cash from the operations of our properties including

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properties acquired during 2011 and 2012 and the opening of The Gallery at Westbury and to a lesser extent an increase in investment income.

Net cash used in investing activities was $332.3 million for 2012 compared with $44.6 million for 2011. Investing activities during 2012 consisted primarily of: acquisitions of income producing properties of $243.5 million, net of debt assumed; $114.3 million related to an investment made in loans receivable; additions to income producing properties and construction in progress of $85.3 million; and investments in joint ventures of $26.4 million; partially offset by a decrease in cash held in escrow of $91.6 million; $42.0 million of proceeds related to the sale of real estate and rental properties; and repayment of a loan receivable of $19.3 million. Cash used by investing activities for 2011 primarily consisted of: acquisitions of income producing properties for $279.1 million, net of debt assumed; an increase in cash held in escrow of $91.6 million; additions to income producing properties and construction in progress of $59.5 million; an investment made in a mezzanine loan of $45.1 million; and investment in joint ventures of $15.0 million; partially offset by $399.4 million of proceeds related to the sale of real estate and rental properties; repayments of advances to joint ventures of $34.9 million and distributions from joint ventures of $18.8 million.

Net cash provided by financing activities totaled $195.5 million for 2012 compared with net cash used by financing activities of $108.8 million for 2011. During 2012, $296.8 million in cash was provided by the issuance of unsecured senior notes with a principal amount of $300.0 million; borrowings under the new term loan of $250.0 million; proceeds from the issuance of common stock of $85.0 million, net of stock issuance costs; and borrowings under the revolving credit facilities of $34.0 million. The largest cash outflows for 2012 related to repayment of senior debt of $287.8 million; the payment of $102.1 million in dividends; prepayments and repayments of $66.2 million in principal amount of mortgage debt; and $10.0 million of distributions to noncontrolling interests. In 2011, cash was used by repayments of $246.9 million in principal amount of mortgage debt, the payment of $98.8 million in dividends and distributions to noncontrolling interests totaling $11.4 million, partially offset by net cash proceeds of $115.4 million from the issuance of common stock, net of stock issuance costs, and net borrowings under our revolving credit facilities of $138.0 million. 

Contractual Commitments. The following tables provide a summary of our fixed, non-cancelable obligations as of December 31, 2012:

	Payments due by period
Contractual Obligations	Total		2013		2014		2015		2016		2017		Thereafter
	(In thousands)
Mortgage notes payable:
Scheduled amortization	$	84,710	$	7,944	$	7,675	$	7,572	$	7,247	$	6,580	$	47,692
Balloon payments	357,264		30,069		6,509		54,462		120,876		64,000		81,348
Total mortgage obligations	441,974		38,013		14,184		62,034		128,123		70,580		129,040
Unsecured revolving credit    facilities	172,000		—		—		172,000		—		—		—
Unsecured senior notes	731,136		—		—		107,505		105,230		218,401		300,000
Term loan	250,000		—		—		—		—		—		250,000
Total unsecured obligations	1,153,136		—		—		279,505		105,230		218,401		550,000
Construction commitments	91,543		61,844		24,699		5,000		—		—		—
Operating leases (1)	24,188		1,219		1,191		1,156		1,082		1,074		18,466
Purchase contracts (2)	45,000		—		45,000		—		—		—		—
Total contractual obligations (3)	$	1,755,841	$	101,076	$	85,074	$	347,695	$	234,435	$	290,055	$	697,506

^{_______________________________________________} 

⁽¹⁾ During the third quarter of 2012, we acquired Darinor Plaza, which is subject to a ground lease that expires in 2076.

⁽²⁾ In October 2012, we entered into a contract to acquire a 22-acre property located in Maryland. The transaction is initially structured as a $95.0 million mortgage loan receivable, which was funded, and will be completed with an outright purchase of the property for $140.0 million, requiring an additional funding of $45.0 million, with an anticipated closing prior to January 2014.

⁽³⁾ Excludes our proportionate share of unconsolidated joint venture indebtedness. See further discussion in Off-Balance Sheet Arrangements section below.

Our debt level could subject us to various risks, including the risk that our cash flow will be insufficient to meet required payments of principal and interest, and the risk that the resulting reduction in financial flexibility could inhibit our ability to develop or

50

improve our rental properties, withstand downturns in our rental income, or take advantage of business opportunities. In addition, because we currently anticipate that only a portion of the principal of our indebtedness will be repaid prior to maturity, it is expected that it will be necessary to refinance the majority of our debt. Accordingly, there is a risk that such indebtedness will not be able to be refinanced or that the terms of any refinancing will not be as favorable as the terms of our current indebtedness. For more information, see the risks described in Item 1A - “Risk Factors” in this annual report.

The following table sets forth certain information regarding future interest obligations on outstanding debt as of December 31, 2012:

	Payments due by period
Interest Obligations	Total		2013		2014		2015		2016		2017		Thereafter
	(In thousands)
Mortgage notes	$	119,395	$	26,336	$	24,213	$	21,205	$	16,843	$	10,108	$	20,690
Unsecured senior notes	210,836		36,700		36,700		35,737		29,343		17,043		55,313
Total interest obligations	$	330,231	$	63,036	$	60,913	$	56,942	$	46,186	$	27,151	$	76,003

Indebtedness. The following table sets forth certain information regarding our indebtedness as of December 31, 2012:

Property	Balance at December 31, 2012		Rate			Maturity date		Balance Due at Maturity
	(In thousands)							(In thousands)
Mortgage Debt
Brawley Commons	$	6,534	6.250	%		7/1/2013		$	6,485
Buckhead Station	24,166		6.880	%		9/1/2013		23,584
South Point	6,924		5.720	%		7/10/2014		6,509
Southbury Green	21,000		5.200	%		1/5/2015		21,000
Davis Marketplace	16,164		6.250	%		2/19/2015		15,650
Darinor Plaza	18,658		5.370	%		5/1/2015		17,811
Danbury Green	24,700		5.850	%		1/5/2016		24,700
1225 Second Avenue	16,655		6.325	%		6/1/2016		15,903
Glengary Shoppes	16,079		5.750	%		6/11/2016		15,085
Magnolia Shoppes	13,807		6.160	%		7/11/2016		12,863
Willows Shopping Center	55,245		5.900	%		10/11/2016		52,325
Culver Center	64,000		5.580	%		5/6/2017		64,000
Sheridan Plaza	61,488		6.250	%		10/10/2018		54,754
Danville-San Ramon Medical Plaza	13,401		6.900	%		3/15/2019		11,985
1175 Third Avenue	7,001		7.000	%		5/1/2019		5,157
BridgeMill	7,528		7.940	%		5/5/2021		3,761
Westport Plaza	3,890		7.490	%		8/1/2023		1,221
Aventura Square / Oakbrook Square / Treasure Coast Plaza	25,944		6.500	%		2/28/2024		—
Webster Plaza	7,070		8.070	%		8/15/2024		2,793
Vons Circle Center	10,793		5.200	%		10/10/2028		—
Copps Hill Plaza	18,109		6.060	%		1/1/2029		—
Total mortgage debt excluding mortgage debt associated with assets held for sale (21 loans outstanding)	439,156		6.09	%	(1)	4.35	years	355,586
Mortgage Debt Associated with Assets Held for Sale
Mableton Crossing	2,818		6.850	%		8/15/2018		1,677
Total mortgage debt on held for sale	2,818		6.85	%	(1)	5.62	years	1,677
Total Mortgage Debt (22 loans outstanding)	$	441,974	6.09	%	(1)	4.35	years	$	357,263

^{______________________________} 

⁽¹⁾ Weighted average interest rates are calculated based on term to maturity and includes scheduled principal amortization.

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The weighted average interest rate of the mortgage notes payable at December 31, 2012 and 2011 was 6.09% and 6.14%, respectively, excluding the effects of any discount or premium.

Our outstanding unsecured senior notes at December 31, 2012 consisted of the following:

Unsecured senior notes payable	Balance at December 31, 2012		Rate			Maturity date		Balance Due at Maturity
	(In thousands)							(In thousands)
5.375% senior notes	$	107,505	5.375	%		10/15/2015		$	107,505
6.00% senior notes	105,230		6.000	%		9/15/2016		105,230
6.25% senior notes	101,403		6.250	%		1/15/2017		101,403
6.00% senior notes	116,998		6.000	%		9/15/2017		116,998
3.75% senior notes	300,000		3.750	%		11/15/2022		300,000
Total unsecured senior notes payable	$	731,136	5.02	%	(1)	6.35	years	$	731,136

^{____________________________} 

⁽¹⁾ Weighted average interest rates are calculated based on term to maturity and includes scheduled principal amortization.

The weighted average interest rate of the unsecured senior notes at December 31, 2012 and 2011 was 5.02% and 6.06%, respectively, excluding the effects of any discount or premium.

Our primary credit facility is with a syndicate of banks and provides $575.0 million of unsecured revolving credit. The facility bears interest at applicable LIBOR plus a margin of 1.00% to 1.85%, depending on the credit ratings of our unsecured senior notes. The facility also includes a facility fee applicable to the aggregate lending commitments thereunder which varies from 0.175% to 0.45% per annum depending on the credit ratings of our unsecured senior notes. At December 31, 2012, the interest rate margin applicable to amounts outstanding under the facility was 1.55% per annum and the facility fee was 0.30% per annum. The facility includes a competitive bid option which allows us to conduct auctions among the participating banks for borrowings at any one time outstanding up to 50% of the lender commitments, a $50.0 million swing line facility for short term borrowings, a $50.0 million letter of credit commitment and a $61.3 million multicurrency subfacility. The facility expires on September 30, 2015, with a one year extension at our option. The facility contains a number of customary restrictions on our business, including restrictions on our ability to make certain investments, and also includes various financial covenants, including a minimum tangible net worth requirement, maximum unencumbered and total leverage ratios, a maximum secured indebtedness ratio, a minimum fixed charge coverage ratio and a minimum unencumbered interest coverage ratio. The facility also contains customary affirmative covenants and events of default, including a cross default to our other material indebtedness and the occurrence of a change of control. If a material default under the facility were to arise, our ability to pay dividends is limited to the amount necessary to maintain our status as a REIT unless the default is a payment default or bankruptcy event in which case we are prohibited from paying any dividends. As of December 31, 2012, we had drawn approximately $172.0 million against the facility, which bore interest at 1.77% per annum. As of December 31, 2011, we had drawn $138.0 million against the facility, which bore interest at 1.85% per annum. As a result of Moody's upgrade of our credit rating in December 2012, effective January 1, 2013, the interest rate margin applicable to amounts outstanding under the facility is 1.25% per annum and the facility fee is 0.25% per annum.

We also have a $15.0 million unsecured credit facility with City National Bank of Florida, for which there was no outstanding balance as of December 31, 2012 and 2011. The facility bears interest at LIBOR plus 1.55% per annum and expires August 7, 2013.

As of December 31, 2012, giving effect to the financial covenants applicable to these credit facilities, the maximum available to us thereunder was approximately $496.8 million, net of outstanding letters of credit.

On February 13, 2012, we entered into an unsecured term loan in the principal amount of $200.0 million with a maturity date of February 13, 2019. On July 12, 2012, we increased the principal amount of the term loan to $250.0 million through the exercise of an accordion feature. The term loan bears interest, at our option, at the base rate or one month, two month, three month or six month LIBOR, in each case plus a margin of 1.50% to 2.35% depending on the credit ratings of our unsecured senior notes, which margin was 1.90% at December 31, 2012. The loan agreement also calls for other customary fees and charges. The loan agreement contains customary restrictions on our business, financial and affirmative covenants, events of default and remedies which are generally the same as those provided in our $575.0 million unsecured revolving credit facility. We entered into interest rate swaps to convert the LIBOR rate applicable to the term loan to a fixed interest rate, providing an effective fixed interest rate under the loan agreement of 3.46% per annum for the initial $200.0 million loan and 3.00% for the additional $50.0 million loan as of December 31, 2012. The swaps are designated and qualified as cash flow hedges and have been recorded at fair value. The swap agreements mature on February 13, 2019. The fair value of our interest rate swaps at December 31, 2012 was a liability of $7.0 million and is included in accounts payable and accrued expenses on our consolidated balance sheet at such date. As a result of

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Moody's upgrade of our credit rating in December 2012, effective January 1, 2013, the effective fixed interest rate for the initial $200.0 million loan became 3.26% per annum and the effective fixed interest rate for the additional $50.0 million loan became 2.80% per annum.

We may not have sufficient funds on hand to repay balloon amounts on our indebtedness at maturity. Therefore, we plan to refinance such indebtedness either through additional mortgage financings secured by individual properties or groups of properties, by unsecured private or public debt offerings or by additional equity offerings, if available, or through the availability on our credit lines. Our results of operations could be affected if the cost of new debt is greater or lesser than the cost of the maturing debt. If new financing is not available, we could be required to sell assets and our business could be adversely affected.

Equity. In 2012, we completed an underwritten public offering and concurrent private placement totaling 4.1 million shares of our common stock at a price to the public and in the private placement of $21.20 per share. In the concurrent private placement, 500,000 shares were purchased by MGN (USA), Inc., an affiliate of Gazit, which may be deemed to be controlled by Chaim Katzman, the Chairman of our Board of Directors. The offerings generated proceeds to us of approximately $85.6 million. The stock issuance costs and underwriting discounts were approximately $813,000.

Capital Recycling Initiatives. As part of our strategy to upgrade and diversify our portfolio and recycle our existing capital, we evaluate opportunities to sell assets or otherwise contribute assets to existing or new joint ventures with third parties. If the market values of these assets are below their carrying values, it is possible that the disposition or contribution of these assets could result in impairments or other losses. Depending on the prevailing market conditions and historical carrying values, these impairments and losses could be material. During the year ended December 31, 2012, we recorded an impairment loss of $6.7 million related to properties held for sale and $21.5 million of impairment losses on certain properties located in secondary markets for which our anticipated holding periods have been reconsidered. See Note 7 to the consolidated financial statements included in this annual report for additional information regarding impairment losses.

Future Capital Requirements. We believe, based on currently proposed plans and assumptions relating to our operations, that our existing financial arrangements, together with cash generated from our operations, cash on hand and any short-term investments will be sufficient to satisfy our cash requirements for a period of at least twelve months. In the event that our plans change, our assumptions change or prove to be inaccurate or cash flows from operations or amounts available under existing financing arrangements prove to be insufficient to fund our debt maturities, pay our dividends, fund expansion and development efforts or to the extent we discover suitable acquisition targets the purchase price of which exceeds our existing liquidity, we would be required to seek additional sources of financing. Additional financing may not be available on acceptable terms or at all, and any future equity financing could be dilutive to existing stockholders. If adequate funds are not available, our business operations could be materially adversely affected.

Distributions. We believe that we currently qualify, and intend to continue to qualify as a REIT under the Code. As a REIT, we are allowed to reduce taxable income by all or a portion of our distributions to stockholders. As distributions have exceeded taxable income, no provision for federal income taxes has been made. While we intend to continue to pay dividends to our stockholders, we also will reserve such amounts of cash flow as we consider necessary for the proper maintenance and improvement of our real estate and other corporate purposes while still maintaining our qualification as a REIT. Our cash distributions for the year ended December 31, 2012 were $102.1 million.

Off-Balance-Sheet Arrangements

Joint Ventures: We consolidate entities in which we own less than a 100% equity interest if we have a controlling interest or are the primary beneficiary in a variable-interest entity, as defined in the Consolidation Topic of the FASB ASC. From time to time, we may have off-balance-sheet joint ventures and other unconsolidated arrangements with varying structures.

As of December 31, 2012, we have investments in eight unconsolidated joint ventures in which our effective ownership interests range from 8.6% to 50.5%. Six of these joint ventures had mortgage indebtedness as of December 31, 2012. We exercise significant influence over, but do not control, six of these entities and therefore they are presently accounted for using the equity method of accounting while two of these joint ventures are accounted for under the cost method. For a more complete description of our joint ventures see Note 9 to the consolidated financial statements included in this annual report. At December 31, 2012, the aggregate carrying amount of debt, including our partners’ shares, incurred by these ventures was approximately $292.0 million (of which our aggregate proportionate share was approximately $65.3 million). Although we have not guaranteed the debt of these joint ventures, we may guarantee the debt of certain joint ventures in the future, and we have agreed to customary environmental indemnifications and nonrecourse carve-outs (e.g., guarantees against fraud, misrepresentation and bankruptcy) on certain of the loans of the joint ventures.

Reconsideration events could cause us to consolidate these joint ventures and partnerships in the future. We evaluate reconsideration events as we become aware of them. Some triggers to be considered are additional contributions required by each partner and

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each partners’ ability to make those contributions. Under certain of these circumstances, we may purchase our partner’s interest. Our unconsolidated real estate joint ventures are with entities which appear sufficiently stable to meet their capital requirements; however, if market conditions worsen and our partners are unable to meet their commitments, there is a possibility we may have to consolidate these entities.

Purchase Obligations: In October 2012, we entered into a contract to acquire a 22-acre property located in Maryland, consisting of 214,767 square feet of retail space, a 211,020 square foot apartment building and a 62-unit assisted living facility. The transaction is initially structured as a $95.0 million mortgage loan receivable, which was funded and currently bears interest at 5.0% per annum, and will be completed with an outright purchase of the property for $140.0 million, requiring an additional funding of $45.0 million, with an anticipated closing prior to January 2014.

Contingencies

Letters of Credit: As of December 31, 2012, we had pledged letters of credit having an aggregate face amount of $1.8 million as additional security for financial and other obligations. Substantially all of our letters of credit are issued under our revolving credit facilities.

Construction Commitments: As of December 31, 2012, we had entered into construction commitments and had outstanding obligations to fund of approximately $91.5 million, based on current plans and estimates, in order to complete current development and redevelopment projects. These obligations, comprising principally construction contracts, are generally due as the work is performed and are expected to be financed by funds available under our revolving credit facilities and available cash.

Operating Lease Obligations: We are obligated under non-cancellable operating leases for office space, equipment rentals and ground leases on certain of our properties totaling $24.2 million.

Non-Recourse Debt Guarantees: Under the terms of certain non-recourse mortgage loans, we could, under specific circumstances, be responsible for portions of the mortgage indebtedness in connection with certain customary non-recourse carve-out provisions, such as environmental conditions, misuse of funds, and material misrepresentations. In management’s judgment, it would be unlikely for us to incur any material liability under these guarantees that would have a material adverse effect on our financial condition, results of operations, or cash flows.

Other than our joint ventures and obligations described above and items disclosed in the Contractual Obligations Table, we have no off-balance sheet arrangements or contingencies as of December 31, 2012 that are reasonably likely to have a current or future material effect on our financial condition, revenue or expenses, results of operations, capital expenditures or capital resources.

Environmental Matters

We are subject to numerous environmental laws and regulations. The operation of dry cleaning and gas station facilities at our shopping centers are the principal environmental concerns. We require that the tenants who operate these facilities do so in material compliance with current laws and regulations and we have established procedures to monitor dry cleaning operations. Where available, we have applied and been accepted into state sponsored environmental programs. Several properties in the portfolio will require or are currently undergoing varying levels of environmental remediation. We have environmental insurance policies covering most of our properties which limits our exposure to some of these conditions, though these policies are subject to limitations and environmental conditions known at the time of acquisition are typically excluded from coverage. During 2012 and 2011, we had one significant environmental remediation matter related to The Gallery at Westbury Plaza acquisition. See Note 13 to the consolidated financial statements included in this annual report for further discussion of this matter. Management believes that the ultimate disposition of currently known environmental matters will not have a material effect on our financial position, liquidity or operations.

Inflation and Economic Condition Considerations

Most of our leases contain provisions designed to partially mitigate any adverse impact of inflation. Although inflation has been low in recent periods and has had a minimal impact on the performance of our shopping centers, there is more recent data suggesting that inflation may be a greater concern in the future given economic conditions and governmental fiscal policy. Most of our leases require the tenant to pay its share of operating expenses, including common area maintenance, real estate taxes and insurance, thereby reducing our exposure to increases in costs and operating expenses resulting from inflation. A small number of our leases also include clauses enabling us to receive percentage rents based on a tenant’s gross sales above predetermined levels, which sales generally increase as prices rise, or escalation clauses which are typically related to increases in the Consumer Price Index or similar inflation indices.

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ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Interest Rate Risk

The primary market risk to which we have exposure is interest rate risk. Changes in interest rates can affect our net income and cash flows. As changes in market conditions occur and interest rates increase or decrease, interest expense on the variable component of our debt will move in the same direction. We intend to utilize variable-rate indebtedness available under our unsecured revolving credit facilities in order to initially fund future acquisitions, development costs and other operating needs. With respect to our fixed rate mortgage notes and unsecured senior notes, changes in interest rates generally do not affect our interest expense as these notes are at fixed rates for extended terms. Because we have the intent to hold our existing fixed-rate debt either to maturity or until the sale of the associated property, these fixed-rate notes pose an interest rate risk to our results of operations and our working capital position only upon the refinancing of that indebtedness. Our possible risk is from increases in long-term interest rates that may occur as this may increase our cost of refinancing maturing fixed-rate debt. In addition, we may incur prepayment penalties or defeasance costs when prepaying or defeasing secured debt. With respect to our floating rate term loan, primary market risk exposure is increasing LIBOR-based interest rates, which we have effectively converted to a fixed rate of interest through the use of interest rate swaps.

As of December 31, 2012, we had $172.0 million of floating rate debt outstanding under our unsecured revolving line of credit. Our unsecured revolving line of credit bears interest at applicable LIBOR plus 1.00% to 1.85%, depending on the credit ratings of our unsecured senior notes. Considering the total outstanding balance of $172.0 million, a 1% change in interest rates would result in an impact to income before taxes of approximately $1.7 million per year.

The fair value of our fixed-rate debt is $1.3 billion as of December 31, 2012, which includes the mortgage notes and the unsecured senior notes payable. If interest rates increase by 1%, the fair value of our total fixed-rate debt would decrease by approximately $58.1 million. If interest rates decrease by 1%, the fair value of our total fixed-rate debt would increase by approximately $62.1 million. This assumes that our total outstanding fixed-rate debt remains at approximately $1.2 billion, the balance as of December 31, 2012.

As of December 31, 2012, we had $250.0 million of floating rate debt outstanding under our term loan, which we have effectively converted to a fixed rate of interest through the use of interest rate swaps – see “Hedging Activities” below. The fair value of our term loan is $255.2 million as of December 31, 2012. If interest rates increase by 1%, the fair value of our total term loan would decrease by approximately $13.1 million. If interest rates decrease by 1%, the fair value of our total term loan would increase by approximately $13.9 million.

Hedging Activities

To manage, or hedge, our exposure to interest rate risk, we follow established risk management policies and procedures, including the use of a variety of derivative financial instruments. We do not enter into derivative instruments for speculative purposes. We require that the hedges or derivative financial instruments be effective in managing the interest rate risk exposure that they are designated to hedge. This effectiveness is essential to qualify for hedge accounting. Hedges that meet these hedging criteria are formally designated as such at the inception of the contract. When the terms of an underlying transaction are modified, or when the underlying hedged item ceases to exist, resulting in some ineffectiveness, the change in the fair value of the derivative instrument will be included in earnings. Additionally, any derivative instrument used for risk management that becomes ineffective is marked-to-market each period and would be charged to operations.

In connection with the $200.0 million unsecured seven-year term loan that we closed on February 13, 2012, and the related $50.0 million term loan increase that we closed on July 12, 2012, we entered into interest rate swaps in order to convert the variable LIBOR rate under the term loan to a fixed interest rate, providing us an effective weighted average fixed interest rate on the term loan of 3.37% per annum at December 31, 2012 based on the then current credit ratings of our unsecured senior notes. Following Moody's upgrade of our credit rating in December 2012, the effective rate on our unsecured term loan decreased from 3.37% to 3.17% effective January 1, 2013.

Other Market Risks

As of December 31, 2012 we had no material exposure to any other market risks (including foreign currency exchange risk, commodity price risk or equity price risk).

In making this determination and for purposes of the SEC's market risk disclosure requirements, we have estimated the fair value of our financial instruments at December 31, 2012 based on pertinent information available to management as of that date. Although

55

management is not aware of any factors that would significantly affect the estimated amounts as of December 31, 2012, future estimates of fair value and the amounts which may be paid or realized in the future may differ significantly from amounts presented.

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

The financial statements and supplementary data required by Regulation S-X are included in this Form 10-K in Item 15: Exhibits and Financial Statement Schedules.

ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

None.

ITEM 9A. CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures

Under the supervision and with the participation of our management, including our principal executive officer and principal financial officer, we conducted an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended, as of December 31, 2012, the end of the period covered by this report. Based on this evaluation, our principal executive officer and principal financial officer concluded as of December 31, 2012 that our disclosure controls and procedures were effective at the reasonable assurance level such that the information relating to us and our consolidated subsidiaries, required to be disclosed in our Securities and Exchange Commission (“SEC”) reports (i) is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms, and (ii) is accumulated and communicated to our management, including our principal executive officer and principal financial officer, as appropriate to allow timely decisions regarding required disclosure.

Management Report on Internal Control over Financial Reporting

The report of our management regarding internal control over financial reporting is set forth on page 67 of this Annual Report on Form 10-K under the caption “Management Report on Internal Control over Financial Reporting” and incorporated herein by reference.

Attestation Report of Independent Registered Public Accounting Firm

The report of our independent registered public accounting firm regarding our internal control over financial reporting is set forth on page 68 of this Annual Report on Form 10-K under the caption “Report of Independent Registered Public Accounting Firm” and incorporated herein by reference.

Changes in Internal Control over Financial Reporting

There have been no changes in our internal control over financial reporting during the quarter ended December 31, 2012, that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

ITEM 9B. OTHER INFORMATION

None.

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PART III

ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE

Incorporated by reference from our definitive proxy statement to be filed within 120 days after the end of our fiscal year covered by this Form 10-K.

ITEM 11. EXECUTIVE COMPENSATION

Incorporated by reference from our definitive proxy statement to be filed within 120 days after the end of our fiscal year covered by this Form 10-K.

ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

Equity Compensation Plan Information

The following table sets forth information regarding securities authorized for issuance under equity compensation plans as of December 31, 2012:

Plan category	(A) Number of securities  to be issued upon exercise of outstanding options, warrants and rights	(B) Weighted-average exercise price of outstanding options, warrants and rights		(C) Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (A))
Equity compensation plans approved by security holders	3,156,304	$	20.28	5,032,716
Equity compensation plans not approved by security holders (1)	364,660	$	24.70	—
Total	3,520,964	$	20.73	5,032,716

 _________________________

⁽¹⁾  Represents options to purchase 364,660 shares of common stock issued to Jeffrey S. Olson our Chief Executive Officer, in connection with his initial employment.

The other information required by this item is incorporated by reference from our definitive proxy statement to be filed within 120 days after the end of our fiscal year covered by this Form 10-K.

ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE

Incorporated by reference from our definitive proxy statement to be filed within 120 days after the end our fiscal year covered by this Form 10-K.

ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES

Incorporated by reference from our definitive proxy statement to be filed within 120 days after the end our fiscal year covered by this Form 10-K.

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PART IV

ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES

(a) The following consolidated financial information is included as a separate section of this Form 10-K:

1.	Financial Statements:	Page
	Management Report on Internal Control Over Financial Reporting	67
	Report of Independent Registered Public Accounting Firm	68
	Report of Independent Registered Public Accounting Firm	69
	Consolidated Balance Sheets as of December 31, 2012 and 2011	70
	Consolidated Statements of Operations for the years ended December 31, 2012, 2011 and 2010	71
	Consolidated Statements of Comprehensive (Loss) Income for the years ended December 31, 2012, 2011 and 2010	72
	Consolidated Statements of Equity for the years ended December 31, 2012, 2011 and 2010	73
	Consolidated Statements of Cash Flows for the years ended December 31, 2012, 2011 and 2010	74
	Notes to the Consolidated Financial Statements	76
2.	Financial statement schedules required to be filed
	Schedule II – Valuation and Qualifying Accounts	124
	Schedule III – Real Estate Investments and Accumulated Depreciation	125
	Schedule IV – Mortgage Loans on Real Estate	130
	Schedules I and V are not required to be filed.

(b) Exhibits: The following exhibits are filed as part of, or incorporated by reference into, this annual report.

EXHIBIT NO.	DESCRIPTION
3.1	Composite Charter of the Company (Exhibit 3.1) (1)
3.2	Amended and Restated Bylaws of the Company (Exhibit 3.2) (2)
4.1	Indenture, dated November 9, 1995, between the Company, as successor-by-merger to IRT Property Company, and SunTrust Bank, as Trustee (Exhibit 4(c)) (3)
4.2	Supplemental Indenture No. 3, dated September 9, 1998, between the Company, as successor-by-merger to IRT Property Company, and SunTrust Bank, as Trustee (Exhibit 4.1) (4)
4.3	Supplemental Indenture No. 4, dated November 1, 1999, between the Company, as successor-by-merger to IRT Property Company, and SunTrust Bank, as Trustee (Exhibit 4.7) (5)
4.4	Supplemental Indenture No. 5, dated February 12, 2003, between the Company and SunTrust Bank, as Trustee (Exhibit 4.1) (6)
4.5	Supplemental Indenture No. 6, dated April 23, 2004, between the Company and SunTrust Bank, as Trustee (Exhibit 4.2) (7)

58

EXHIBIT NO.	DESCRIPTION
4.6	Supplemental Indenture No. 7, dated May 20, 2005, between the Company and SunTrust Bank, as Trustee (Exhibit 4.1) (8)
4.7	Indenture, dated September 9, 1998, between the Company, as successor-by-merger to IRT Property Company, and SunTrust Bank, as Trustee (Exhibit 4.2) (4)
4.8	Supplemental Indenture No. 1, dated September 9, 1998, between the Company, as successor-by-merger to IRT Property Company, and SunTrust Bank, as Trustee (Exhibit 4.3) (4)
4.9	Supplemental Indenture No. 2, dated November 1, 1999, between the Company, as successor-by-merger to IRT Property Company, and SunTrust Bank, as Trustee (Exhibit 4.5) (5)
4.10	Supplemental Indenture No. 3, dated February 12, 2003, between the Company and SunTrust Bank, as Trustee (Exhibit 4.2) (6)
4.11	Supplemental Indenture No. 5, dated April 23, 2004, between the Company and SunTrust Bank, as Trustee (Exhibit 4.1) (7)
4.12	Supplemental Indenture No. 6, dated May 20, 2005, between the Company and SunTrust Bank, as Trustee (Exhibit 4.2) (8)
4.13	Supplemental Indenture No. 7, dated September 20, 2005, between the Company and SunTrust Bank, as Trustee (Exhibit 4.1) (10)
4.14	Supplemental Indenture No. 8, dated December 30, 2005, between the Company and SunTrust Bank, as Trustee (Exhibit 4.17) (11)
4.15	Supplemental Indenture No. 9, dated March 10, 2006, between the Company and SunTrust Bank, as Trustee (Exhibit 4.1) (12)
4.16	Supplemental Indenture No. 10, dated August 18, 2006, between the Company and SunTrust Bank, as Trustee (Exhibit 4.1) (13)
4.17	Supplemental Indenture No. 11, dated April 18, 2007, between the Company and U.S. Bank National Association, as Trustee (Exhibit 4.1) (23)
4.18	Supplemental Indenture No. 13, dated as of October 25, 2012, between the Company and U.S. Bank National Association, as Trustee (Exhibit 4.1) (42)
10.1	Form of Indemnification Agreement (Exhibit 10.1) (35)
10.2	1995 Stock Option Plan, as amended (Appendix A) (14)*
10.3	Amended and Restated 2000 Executive Incentive Plan (Exhibit 10.1) (28)*
10.4	Form of Stock Option Agreement for stock options awarded under the Amended and Restated 2000 Executive Incentive Plan (Exhibit 10.3) (16)*
10.5	Form of Restricted Stock Agreement for restricted stock awarded under the Amended and Restated 2000 Executive Incentive Plan (Exhibit 10.4) (16)*
10.6	IRT 1989 Stock Option Plan, assumed by the Company (17)*

59

EXHIBIT NO.	DESCRIPTION
10.7	IRT 1998 Long-Term Incentive Plan, assumed by the Company (Appendix A) (18)*
10.8	2004 Employee Stock Purchase Plan (Annex B) (15)*
10.9	Registration Rights Agreement, dated as of January 1, 1996 by and among the Company, Chaim Katzman, Gazit Holdings, Inc., Dan Overseas Ltd., Globe Reit Investments, Ltd., Eli Makavy, Doron Valero and David Wulkan, as amended. (Exhibit 10.6, Amendment No. 3) (19)
10.10	Stock Exchange Agreement dated May 18, 2001 among the Company, First Capital Realty Inc. and First Capital America Holding Corp. (Appendix A) (20)
10.11	Use Agreement, regarding use of facilities, by and between Gazit (1995), Inc. and the Company, dated January 1, 1996 (Exhibit 10.15, Amendment No. 1) (19)
10.12	Subscription Agreement, dated October 4, 2000, made by Alony Hetz Properties & Investments, Ltd. (Exhibit 10.13) (21)
10.13	Registration Rights Agreement, dated October 28, 2002, between the Company and certain Purchasers (Exhibit 99.3) (24)
10.14	Third Amended and Restated Credit Agreement, dated as of September 30, 2011, by and among the Company, each of the financial institutions initially a signatory thereto, Wells Fargo Bank, National Association, as Administrative Agent, PNC Bank, National Association, as Syndication Agent, Wells Fargo Securities, LLC and PNC Capital Markets LLC, as Joint Lead Arrangers and Joint Book Runners, and SunTrust Bank, Bank of America, N.A. and U.S. Bank National Association as Co-Documentation Agents (Exhibit 10.1) (25)
10.15	Clarification Agreement and Protocol, dated as of January 1, 2004, among the Company and Gazit-Globe (1982), Ltd. (Exhibit 10.2) (26)
10.16	Equity One, Inc. Non-Qualified Deferred Compensation Plan. (Exhibit 10.1) (27)*
10.17	Registration Rights Agreement made as of September 23, 2008 by and among the Company and MGN America LLC (Exhibit 10.2) (31)
10.18	Common Stock Purchase Agreement made as of September 23, 2008 by and between the Company and MGN America, LLC (Exhibit 10.1) (31)
10.19	Common Stock Purchase Agreement, dated as of April 8, 2009, between the Company and MGN America, LLC (Exhibit 10.1) (33)
10.20	Registration Rights Agreement, dated as of April 8, 2009, between the Company and MGN America, LLC (Exhibit 10.2) (33)
10.21	Common Stock Purchase Agreement, dated as of March 9, 2010, between the Company and MGN America, LLC (Exhibit 10.1) (36)
10.22	Common Stock Purchase Agreement, dated as of March 9, 2010, between the Company and Silver Maple (2001), Inc. (Exhibit 10.2) (36)
10.23	Registration Rights Agreement, dated as of March 9, 2010, by and among the Company, MGN America, LLC and Silver Maple (2001), Inc. (Exhibit 10.3) (36)

60

EXHIBIT NO.	DESCRIPTION
10.24	Contribution Agreement, dated May 23, 2010, by and among the Company, Liberty International Holdings Limited and Capital Shopping Centres plc (Exhibit 10.1) (37)
10.25	Equityholders Agreement, dated May 23, 2010, by and among the Company, Capital Shopping Centres Group PLC, Liberty International Holdings Limited, Gazit-Globe Ltd., MGN (USA) Inc., Gazit (1995), Inc., MGN America, LLC, Silver Maple (2001), Inc. and Ficus, Inc. (Exhibit 10.2) (37)
10.26	Amendment to Contribution Agreement, dated November 8, 2010, by and among the Company, Liberty International Holdings Limited and Capital Shopping Centres plc (Exhibit 10.1) (38)
10.27	First Amendment to Amended and Restated Employment Agreement and Restricted Stock Agreement, dated as of August 9, 2010, by and between the Company and Jeffrey S. Olson (Exhibit 10.2) (39)*
10.28	Chairman Compensation Agreement, dated as of August 9, 2010 and, except as otherwise specifically provided therein, effective as of January 1, 2011, by and between the Company and Chaim Katzman (Exhibit 10.3) (39)*
10.29	First Amendment to Chairman Compensation Agreement and Restricted Stock Agreement, dated as of August 9, 2010, by and between the Company and Chaim Katzman (Exhibit 10.4) (39)*
10.30	Restricted Stock Agreement, effective as of August 9, 2010, by and between the Company and Chaim Katzman (Exhibit 10.5) (39)*
10.31	Common Stock Purchase Agreement, dated as of December 8, 2010, between the Company and MGN America, LLC (Exhibit 10.1) (30)
10.32	Registration Rights Agreement, dated as of December 8, 2010, by and among the Company and MGN America, LLC (Exhibit 10.2) (30)
10.33	Limited Liability Company Agreement of EQY-CSC LLC, dated as of January 4, 2011 (Exhibit 10.1) (32)
10.34	Registration and Liquidity Rights Agreement by and between the Company and Liberty International Holdings Limited, dated as of January 4, 2011 (Exhibit 10.2) (32)
10.35	Shared Appreciation Promissory Note, dated as of January 4, 2011 (Exhibit 10.3) (32)
10.36	Employment Agreement, dated as of January 28, 2011 and effective as of February 1, 2011, by and between the Company and Thomas A. Caputo (Exhibit 10.1) (22)*
10.37	Employment Agreement, dated as of January 28, 2011 and effective as of February 1, 2011, by and between the Company and Arthur L. Gallagher (Exhibit 10.2) (22)*
10.38	Employment Agreement, dated as of January 28, 2011 and effective as of February 1, 2011, by and between the Company and Mark Langer (Exhibit 10.3) (22)*
10.39	Amended and Restated Employment Agreement, dated as of August 9, 2010 and effective as of January 1, 2011, by and between the Company and Jeffrey S. Olson (Exhibit 10.4) (22)*
10.40	Common Stock Purchase Agreement, dated as of May 18, 2011, between the Company and MGN (USA), Inc. (Exhibit 10.1) (34)

61

EXHIBIT NO.	DESCRIPTION
10.41	Registration Rights Agreement, dated as of May 18, 2011, by and among the Company and MGN (USA), Inc. (Exhibit 10.2) (34)
10.42	Purchase and Sale Agreement, dated September 26, 2011, by and among the parties listed on Exhibit A thereto and BRE Southeast Retail Holdings LLC (Exhibit 10.1) (29)
10.43	Amendment No. 1, dated September 16, 2011, to Equityholders Agreement, dated May 23, 2010, by and among the Company, Capital Shopping Centers Group PLC, Liberty International Holdings Limited, Gazit-Globe Ltd., MGN (USA) Inc., Gazit (1995), Inc., MGN America, LLC, Silver Maple (2001), Inc., Ficus, Inc. and Gazit First Generation LLC (Exhibit 10.2) (29)
10.44	Loan Agreement, dated as of February 13, 2012, by and among the Company, each of the financial institutions party thereto as lenders, PNC Bank, National Association, as administrative agent, SunTrust Bank, as syndication agent, and PNC Capital Markets LLC and SunTrust Robinson Humphrey, Inc., as joint lead arrangers and joint book runners (Exhibit 10.1) (40)
10.45	Common Stock Purchase Agreement, dated as of August 8, 2012, between Equity One, Inc. and MGN (USA), Inc. (Exhibit 10.1) (41)
10.46	Registration Rights Agreement, dated as of August 8, 2012, by and among Equity One, Inc. and MGN  (USA), Inc. (Exhibit 10.2) (41)
12.1	Ratios of Earnings to Fixed Charges
21.1	List of Subsidiaries of the Registrant
23.1	Consent of Ernst & Young LLP
31.1	Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2	Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1	Certification of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. 1350, as created by Section 906 of the Sarbanes-Oxley Act of 2002
101.INS++	XBRL Instance Document
101.SCH++	XBRL Taxonomy Extension Schema
101.CAL++	XBRL Taxonomy Extension Calculation Linkbase
101.LAB++	XBRL Extension Labels Linkbase
101.PRE++	XBRL Taxonomy Extension Presentation Linkbase
101.DEF++	XBRL Taxonomy Extension Definition Linkbase

*	Identifies employee agreements, management contracts, compensatory plans or other arrangements.
++	Pursuant to Rule 406T of Regulation S-T, these interactive data files are deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, are deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise are not subject to liability under those sections.

62

(1) Previously filed as an exhibit to our Annual Report on Form 10-K filed on March 11, 2011, and incorporated by reference herein.

(2) Previously filed as an exhibit to our Annual Report on Form 10-K filed on March 15, 2004, and incorporated by reference herein.

(3) Previously filed by IRT Property Company as an exhibit to IRT’s Annual Report on Form 10-K filed on February 16, 1996, and incorporated by reference herein.

(4) Previously filed by IRT Property Company as an exhibit to IRT’s Current Report on Form 8-K filed on September 15, 1998, and incorporated by reference herein.

(5) Previously filed by IRT Property Company as an exhibit to IRT’s Current Report on Form 8-K filed on November 12, 1999, and incorporated by reference herein.

(6) Previously filed as an exhibit to our Current Report on Form 8-K filed on February 20, 2003, and incorporated by reference herein.

(7) Previously filed as an exhibit to our Quarterly Report on Form 10-Q filed on May 10, 2004, and incorporated by reference herein.

(8) Previously filed as an exhibit to our Quarterly Report on Form 10-Q filed on August 5, 2005, and incorporated by reference herein.

(9) Reserved.

(10) Previously filed as an exhibit to our Current Report on Form 8-K filed on September 20, 2005, and incorporated by reference herein.

(11) Previously filed as an exhibit to our Annual Report on Form 10-K filed on March 3, 2006, and incorporated by reference herein.

(12) Previously filed as an exhibit to our Current Report on Form 8-K filed on March 13, 2006, and incorporated by reference herein.

(13) Previously filed as an exhibit to our Current Report on Form 8-K filed on August 22, 2006, and incorporated by reference herein.

(14) Previously filed with our definitive Proxy Statement for the Annual Meeting of Stockholders held on June 30, 1999, and incorporated by reference herein.

(15) Previously filed with our definitive Proxy Statement for the Annual Meeting of Stockholders held on May 21, 2004, and incorporated by reference herein.

(16) Previously filed as an exhibit to our Current Report on Form 8-K filed on February 18, 2005, and incorporated by reference herein.

(17) Previously filed by IRT Property Company as an exhibit to IRT’s Current Report on Form 8-K filed on March 22, 1989, and incorporated by reference herein.

(18) Previously filed by IRT Property Company with IRT’s definitive Proxy Statement for the Annual Meeting of Stockholders held on June 18, 1998, and incorporated by reference herein.

(19) Previously filed with our Registration Statement on Form S-11, as amended (Registration No. 333-3397), and incorporated by reference herein.

(20) Previously filed with our definitive Proxy Statement for the Special Meeting of Stockholders held on September 6, 2001 and incorporated by reference herein.

(21) Previously filed as an exhibit to our Annual Report Form 10-K/A filed on March 18, 2002, and incorporated by reference herein.

(22) Previously filed as an exhibit to our Current Report on Form 8-K filed on February 3, 2011, and incorporated by reference herein.

(23) Previously filed as an exhibit to our Current Report on Form 8-K filed on April 20, 2007, and incorporated by reference herein.

(24) Previously filed as an exhibit to our Current Report on Form 8-K filed on October 30, 2002, and incorporated by reference herein.

(25) Previously filed as an exhibit to our Current Report on Form 8-K filed on October 5, 2011, and incorporated by reference herein.

(26) Previously filed as an exhibit to our Current Report on Form 8-K filed on March 22, 2004, and incorporated by reference herein.

(27) Previously filed as an exhibit to our Current Report on Form 8-K filed on July 7, 2005, and incorporated by reference herein.

(28) Previously filed as an exhibit to our Current Report on Form 8-K filed on May 4, 2011, and incorporated by reference herein.

(29) Previously filed as an exhibit to our Quarterly Report on Form 10-Q filed on November 9, 2011, and incorporated by reference herein

63

(30) Previously filed as an exhibit to our Current Report on Form 8-K filed on December 14, 2010, and incorporated by reference herein.

(31) Previously filed as an exhibit to our Current Report on Form 8-K filed on September 29, 2008, and incorporated by reference herein.

(32) Previously filed as an exhibit to our Current Report on Form 8-K filed on January 7, 2011, and incorporated by reference herein.

(33) Previously filed as an exhibit to our Current Report on Form 8-K filed on April 14, 2009, and incorporated by reference herein.

(34) Previously filed as an exhibit to our Current Report on Form 8-K filed on May 24, 2011, and incorporated by reference herein.

(35) Previously filed as an exhibit to our Annual Report on Form 10-K filed on February 29, 2012, and incorporated by reference herein.

(36) Previously filed as an exhibit to our Current Report on Form 8-K filed on March 15, 2010, and incorporated by reference herein.

(37) Previously filed as an exhibit to our Current Report on Form 8-K filed on May 27, 2010, and incorporated by reference herein.

(38) Previously filed as an exhibit to our Quarterly Report on Form 10-Q filed on November 8, 2010, and incorporated by reference herein.

(39) Previously filed as an exhibit to our Current Report on Form 8-K filed on August 12, 2010, and incorporated by reference herein.

(40) Previously filed as an exhibit to our Current Report on Form 8-K filed on February 14, 2012, and incorporated by reference herein.

(41) Previously filed as an exhibit to our Current Report on Form 8-K filed with the SEC on August 14, 2012 and incorporated by reference herein.

(42) Previously filed as an exhibit to our Current Report on Form 8-K filed with the SEC on October 25, 2012 and incorporated by reference herein.

64

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date:	February 28, 2013	EQUITY ONE, INC.
		By:	/s/    JEFFREY S. OLSON
			Jeffrey S. Olson
			Chief Executive Officer (Principal Executive Officer)

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the Registrant in the capacities, and on the dates indicated.

SIGNATURE	TITLE	DATE
/s/    JEFFREY S. OLSON	Chief Executive Officer and Director (Principal Executive Officer)	February 28, 2013
Jeffrey S. Olson
/s/    MARK LANGER	Executive Vice President and Chief Financial Officer (Principal Financial Officer)	February 28, 2013
Mark Langer
/s/    ANGELA F. VALDES	Vice President and Chief Accounting Officer (Principal Accounting Officer)	February 28, 2013
Angela F. Valdes
/s/    CHAIM KATZMAN	Chairman of the Board	February 28, 2013
Chaim Katzman
/s/    JAMES S. CASSEL	Director	February 28, 2013
James S. Cassel
/s/    CYNTHIA COHEN	Director	February 28, 2013
Cynthia Cohen
/s/    DAVID FISCHEL	Director	February 28, 2013
David Fischel
/s/    NEIL FLANZRAICH	Director	February 28, 2013
Neil Flanzraich
/s/    NATHAN HETZ	Director	February 28, 2013
Nathan Hetz
/s/    PETER LINNEMAN	Director	February 28, 2013
Peter Linneman
/s/    GALIA MAOR	Director	February 28, 2013
Galia Maor
/s/    DORI J. SEGAL	Director	February 28, 2013
Dori J. Segal

65

EQUITY ONE, INC. AND SUBSIDIARIES

TABLE OF CONTENTS

	Page
Management Report on Internal Control Over Financial Reporting	67
Report of Independent Registered Public Accounting Firm	68
Report of Independent Registered Public Accounting Firm	69
Consolidated Balance Sheets as of December 31, 2012 and 2011	70
Consolidated Statements of Operations for the years ended December 31, 2012, 2011 and 2010	71
Consolidated Statements of Comprehensive (Loss) Income for the years ended December 31, 2012, 2011 and 2010	72
Consolidated Statements of Equity for the years ended December  31, 2012, 2011 and 2010	73
Consolidated Statements of Cash Flows for the years ended December 31, 2012, 2011 and 2010	74
Notes to the Consolidated Financial Statements	76

66

Management Report on Internal Control Over Financial Reporting

The management of Equity One, Inc. and subsidiaries (the “Company”) is responsible for establishing and maintaining adequate internal control over financial reporting, defined in Rule 13a-15(f) promulgated under the Securities Exchange Act of 1934, as amended, as a process designed by, or under the supervision of, the Company’s principal executive and principal financial officers and effected by the Company’s board of directors, management and other personnel, to provide reasonable assurance regarding the reliability of financial reporting, which requires the use of certain estimates and judgments, and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles and includes those policies and procedures that:

• Pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of the assets of the Company;

• Provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the Company are being made only in accordance with authorizations of management and directors of the Company; and

• Provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of the Company’s assets that could have a material effect on the financial statements.

Reasonable assurance is based on the premise that the cost of internal controls should not exceed the benefits derived. Reasonable assurance includes the understanding that there is a remote likelihood that material misstatements will not be prevented or detected in a timely manner. Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements.

The Company’s management assessed the effectiveness of the Company’s internal control over financial reporting as of December 31, 2012. In making this assessment, the Company’s management used the criteria set forth by the Internal Control-Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). Based on this assessment, management has concluded that, as of December 31, 2012, the Company’s internal control over financial reporting is effective.

Projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

The Company’s independent registered public accounting firm has issued a report on the Company’s internal control over financial reporting as of December 31, 2012. This report appears on the following page of this Form 10-K.

67

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

The Board of Directors and Stockholders

Equity One, Inc.

We have audited Equity One, Inc. and subsidiaries’ internal control over financial reporting as of December 31, 2012, based on criteria established in Internal Control – Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (the COSO criteria). Equity One, Inc. and subsidiaries’ management is responsible for maintaining effective internal control over financial reporting, and for its assessment of the effectiveness of internal control over financial reporting included in the accompanying Management Report on Internal Control over Financial Reporting. Our responsibility is to express an opinion on the company’s internal control over financial reporting based on our audit.

We conducted our audit in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether effective internal control over financial reporting was maintained in all material respects. Our audit included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, testing and evaluating the design and operating effectiveness of internal control based on the assessed risk, and performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion.

A company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

In our opinion, Equity One, Inc. and subsidiaries maintained, in all material respects, effective internal control over financial reporting as of December 31, 2012, based on the COSO criteria.

We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), the consolidated balance sheets of Equity One, Inc. and subsidiaries as of December 31, 2012 and 2011, and the related consolidated statements of operations, comprehensive (loss) income, equity, and cash flows for each of the three years in the period ended December 31, 2012 of Equity One, Inc. and subsidiaries and our report dated February 28, 2013 expressed an unqualified opinion thereon.

/s/ Ernst & Young LLP

Certified Public Accountants

February 28, 2013

Boca Raton, Florida

68

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

The Board of Directors and Stockholders

Equity One, Inc.

We have audited the accompanying consolidated balance sheets of Equity One, Inc. and subsidiaries as of December 31, 2012 and 2011, and the related consolidated statements of operations, comprehensive (loss) income, equity, and cash flows for each of the three years in the period ended December 31, 2012. Our audits also included the financial statement schedules listed in the Index at Item 15(a). These financial statements and schedules are the responsibility of the Company’s management. Our responsibility is to express an opinion on these financial statements and schedules based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the consolidated financial position of Equity One, Inc. and subsidiaries at December 31, 2012 and 2011, and the consolidated results of their operations and their cash flows for each of the three years in the period ended December 31, 2012, in conformity with U.S. generally accepted accounting principles. Also, in our opinion, the related financial statement schedules, when considered in relation to the basic financial statements taken as a whole, present fairly in all material respects the information set forth therein.

We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), Equity One, Inc. and subsidiaries’ internal control over financial reporting as of December 31, 2012, based on criteria established in Internal Control-Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission and our report dated February 28, 2013 expressed an unqualified opinion thereon.

/s/ Ernst & Young LLP

Certified Public Accountants

February 28, 2013

Boca Raton, Florida

69

EQUITY ONE, INC. AND SUBSIDIARIES

Consolidated Balance Sheets

December 31, 2012 and 2011

(In thousands, except share par value amounts)

	December 31, 2012			December 31, 2011
ASSETS
Properties:
Income producing	$	3,148,968		$	2,830,025
Less: accumulated depreciation	(335,862		)	(277,197		)
Income producing properties, net	2,813,106			2,552,828
Construction in progress and land held for development	108,721			111,844
Properties held for sale	84,409			144,451
Properties, net	3,006,236			2,809,123
Cash and cash equivalents	27,416			10,963
Cash held in escrow and restricted cash	442			92,561
Accounts and other receivables, net	14,320			17,790
Investments in and advances to unconsolidated joint ventures	72,171			50,158
Loans receivable, net	140,708			45,279
Goodwill	7,426			7,957
Other assets	233,949			188,740
TOTAL ASSETS (including $111,100 and $109,200 of consolidated variable interest entities at    December 31, 2012 and 2011, respectively*)	$	3,502,668		$	3,222,571
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY
Liabilities:
Notes payable:
Mortgage notes payable	$	439,156		$	459,677
Unsecured senior notes payable	731,136			691,136
Term loan	250,000			—
Unsecured revolving credit facilities	172,000			138,000
	1,592,292			1,288,813
Unamortized premium on notes payable, net	7,058			7,896
Total notes payable	1,599,350			1,296,709
Other liabilities:
Accounts payable and accrued expenses	55,248			50,514
Tenant security deposits	9,041			8,208
Deferred tax liability	12,016			14,709
Other liabilities	196,658			164,140
Liabilities associated with properties held for sale	3,325			40,285
Total liabilities (including $63,000 and $61,900 of consolidated variable interest entities at    December 31, 2012 and 2011, respectively*)	1,875,638			1,574,565
Redeemable noncontrolling interests	22,551			22,804
Commitments and contingencies
Stockholders' Equity:
Preferred stock, $0.01 par value – 10,000 shares authorized but unissued	—			—
Common stock, $0.01 par value – 150,000 shares authorized, 116,938 and 112,599 shares issued    and outstanding at December 31, 2012 and 2011, respectively	1,169			1,126
Additional paid-in capital	1,679,227			1,587,874
Distributions in excess of earnings	(276,085		)	(170,530		)
Accumulated other comprehensive loss	(7,585		)	(1,154		)
Total stockholders’ equity of Equity One, Inc.	1,396,726			1,417,316
Noncontrolling interests	207,753			207,886
Total equity	1,604,479			1,625,202
TOTAL LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY	$	3,502,668		$	3,222,571

* The assets of these entities can only be used to settle obligations of the variable interest entities and the liabilities include third party liabilities of the variable interest entities for which the creditors or beneficial interest holders do not have recourse against us other than for customary environmental indemnifications and non-recourse carve-outs.

See accompanying notes to the consolidated financial statements.

70

EQUITY ONE, INC. AND SUBSIDIARIES

Consolidated Statements of Operations

For the years ended December 31, 2012, 2011 and 2010

(In thousands, except per share data)

	2012			2011				2010
REVENUE:
Minimum rent	$	246,105		$	212,783			$	167,147
Expense recoveries	72,757			61,958				47,824
Percentage rent	4,260			3,180				1,481
Management and leasing services	2,489			2,287				1,557
Total revenue	325,611			280,208				218,009
COSTS AND EXPENSES:
Property operating	87,645			79,126				60,593
Rental property depreciation and amortization	86,006			81,446				48,294
General and administrative	42,474			50,976				41,360
Total costs and expenses	216,125			211,548				150,247
INCOME BEFORE OTHER INCOME AND EXPENSE, TAX AND    DISCONTINUED OPERATIONS	109,486			68,660				67,762
OTHER INCOME AND EXPENSE:
Investment income	7,248			4,342				930
Equity in income (loss) of unconsolidated joint ventures	542			4,829				(116		)
Other income	45			406				648
Interest expense	(72,175		)	(68,964		)		(62,734		)
Amortization of deferred financing fees	(2,479		)	(2,207		)		(1,891		)
Gain on bargain purchase	—			30,561				—
Gain on sale of real estate	—			5,541				254
(Loss) gain on extinguishment of debt	(29,153		)	(2,175		)		33
Impairment loss	(22,772		)	(19,158		)		(464		)
(LOSS) INCOME FROM CONTINUING OPERATIONS BEFORE TAX AND    DISCONTINUED OPERATIONS	(9,258		)	21,835				4,422
Income tax benefit of taxable REIT subsidiaries	2,503			5,064				1,724
(LOSS) INCOME FROM CONTINUING OPERATIONS	(6,755		)	26,899				6,146
DISCONTINUED OPERATIONS:
Operations of income producing properties	4,061			20,515				14,198
Gain on disposal of income producing properties	16,588			4,407				2,257
Impairment loss on income producing properties	(6,669		)	(38,178		)		(223		)
Income tax benefit of taxable REIT subsidiaries	—			29,575				2,041
INCOME FROM DISCONTINUED OPERATIONS	13,980			16,319				18,273
NET INCOME	7,225			43,218				24,419
Net (income) loss attributable to noncontrolling interests – continuing operations	(10,702		)	(9,630		)		254
Net loss attributable to noncontrolling interests – discontinued operations	—			33				439
NET (LOSS) INCOME ATTRIBUTABLE TO EQUITY ONE, INC.	$	(3,477	)	$	33,621			$	25,112
(LOSS) EARNINGS PER COMMON SHARE – BASIC:
Continuing operations	$	(0.16	)	$	0.15			$	0.07
Discontinued operations	0.12			0.15				0.20
	$	(0.04	)	$	0.29		*	$	0.27
Number of Shares Used in Computing Basic (Loss) Earnings per Share	114,233			110,099				91,536
(LOSS) EARNINGS PER COMMON SHARE – DILUTED:
Continuing operations	$	(0.16	)	$	0.15			$	0.07
Discontinued operations	0.12			0.15				0.20
	$	(0.04	)	$	0.29		*	$	0.27
Number of Shares Used in Computing Diluted (Loss) Earnings per Share	114,233			110,241				91,710

* Note: EPS does not foot due to the rounding of the individual calculations.

See accompanying notes to the consolidated financial statements.

71

EQUITY ONE, INC. AND SUBSIDIARIES

Consolidated Statements of Comprehensive (Loss) Income

For the years ended December 31, 2012, 2011 and 2010

(In thousands)

	2012			2011			2010
NET INCOME	$	7,225		$	43,218		$	24,419
OTHER COMPREHENSIVE (LOSS) INCOME:
Net unrealized holding gain on securities available for sale	—			—			14
Reclassification adjustment for gain on sale of securities included in net income    on securities available for sale	—			—			(359		)
Net amortization of interest rate contracts included in net income	64			64			63
Net unrealized (loss) gain on interest rate swap (1)	(6,495		)	351			(1,021		)
Other comprehensive (loss) income adjustment	(6,431		)	415			(1,303		)
COMPREHENSIVE INCOME	794			43,633			23,116
Comprehensive (income) loss attributable to noncontrolling interests	(10,702		)	(9,597		)	693
COMPREHENSIVE (LOSS) INCOME ATTRIBUTABLE TO EQUITY ONE, INC.	$	(9,908	)	$	34,036		$	23,809

⁽¹⁾ This amount includes our share of an unconsolidated joint venture's unrealized gains (losses) of $458, $351 and $(1,021) for the years ended December 31, 2012, 2011 and 2010, respectively.

See accompanying notes to the consolidated financial statements.

72

EQUITY ONE, INC. AND SUBSIDIARIES

Consolidated Statements of Equity

For the years ended December 31, 2012, 2011 and 2010

(In thousands)

	Common Stock			Additional Paid-In Capital			Distributions in Excess of Earnings			Contingent Consideration			Accumulated Other Comprehensive Loss			Total Stockholders’ Equity of  Equity One, Inc.			Non- controlling Interests			Total Equity
	Shares	Amount
BALANCE AT    JANUARY 1, 2010	86,131	$	861	$	1,110,427		$	(46,810	)	$	323		$	(266	)	$	1,064,535		$	23,178		$	1,087,713
Issuance of common stock	15,659	157		270,541			—			—			—			270,698			—			270,698
Stock issuance costs	—	—		(3,319		)	—			—			—			(3,319		)	—			(3,319		)
Share-based compensation    expense	—	—		6,551			—			—			—			6,551			—			6,551
Net income (loss)	—	—		—			25,112			—			—			25,112			(693		)	24,419
Dividends paid on common    stock	—	—		—			(83,611		)	—			—			(83,611		)	—			(83,611		)
Acquisition of joint    ventures	—	—		—			—			—			—			—			2,352			2,352
Purchase of subsidiary    shares from noncontrolling    interests	537	5		7,562			—			(323		)	—			7,244			(20,903		)	(13,659		)
Other comprehensive loss	—	—		—			—			—			(1,303		)	(1,303		)	—			(1,303		)
BALANCE AT    DECEMBER 31, 2010	102,327	1,023		1,391,762			(105,309		)	—			(1,569		)	1,285,907			3,934			1,289,841
Issuance of common stock,    net of withholding taxes	6,211	62		116,480			—			—			—			116,542			—			116,542
Stock issuance costs	—	—		(1,185		)	—			—			—			(1,185		)	—			(1,185		)
Share-based compensation    expense	—	—		7,160			—			—			—			7,160			—			7,160
Net income, excluding $143 of    net income attributable to    redeemable noncontrolling    interests	—	—		—			33,621			—			—			33,621			9,454			43,075
Dividends paid on common    stock	—	—		—			(98,842		)	—			—			(98,842		)	—			(98,842		)
Distributions to    noncontrolling interests	—	—		—			—			—			—			—			(11,405		)	(11,405		)
Acquisition of C&C (US)    No. 1	4,051	41		73,657			—			—			—			73,698			206,145			279,843
Conversion of Class A    share by LIH	10	—		—			—			—			—			—			—			—
Purchase of subsidiary    shares from    noncontrolling interests	—	—		—			—			—			—			—			(242		)	(242		)
Other comprehensive    income	—	—		—			—			—			415			415			—			415
BALANCE AT    DECEMBER 31, 2011	112,599	1,126		1,587,874			(170,530		)	—			(1,154		)	1,417,316			207,886			1,625,202
Issuance of common stock,    net of withholding taxes	4,339	43		85,795			—			—			—			85,838			—			85,838
Stock issuance costs	—	—		(883		)	—			—			—			(883		)	—			(883		)
Share-based compensation    expense	—	—		7,113			—			—			—			7,113			—			7,113
Restricted stock reclassified    from liability to equity	—	—		101			—			—			—			101			—			101
Net (loss) income, excluding    $840 of net income    attributable to redeemable    noncontrolling interests	—	—		—			(3,477		)	—			—			(3,477		)	9,862			6,385
Dividends paid on common    stock	—	—		—			(102,078		)	—			—			(102,078		)	—			(102,078		)
Distributions to    noncontrolling interests	—	—		—			—			—			—			—			(9,995		)	(9,995		)
Revaluation of redeemable    noncontrolling interest	—	—		185			—			—			—			185			—			185
Pro-rata share of investee's    purchase of its subsidiary    shares from noncontrolling    interest	—	—		(958		)	—			—			—			(958		)	—			(958		)
Other comprehensive loss	—	—		—			—			—			(6,431		)	(6,431		)	—			(6,431		)
BALANCE AT    DECEMBER 31, 2012	116,938	$	1,169	$	1,679,227		$	(276,085	)	$	—		$	(7,585	)	$	1,396,726		$	207,753		$	1,604,479

See accompanying notes to the consolidated financial statements.

73

EQUITY ONE, INC. AND SUBSIDIARIES

Consolidated Statements of Cash Flows

For the years ended December 31, 2012, 2011 and 2010

(In thousands)

	2012			2011			2010
OPERATING ACTIVITIES:
Net income	$	7,225		$	43,218		$	24,419
Adjustments to reconcile net income to net cash provided by operating    activities:
Straight line rent adjustment	(3,994		)	(3,185		)	(2,233		)
Accretion of below market lease intangibles, net	(12,469		)	(10,584		)	(7,487		)
Equity in (income) loss of unconsolidated joint ventures	(542		)	(5,533		)	116
Gain on bargain purchase	—			(30,561		)	—
Income tax benefit of taxable REIT subsidiaries	(2,503		)	(34,639		)	(3,765		)
Provision for losses on accounts receivable	979			2,946			2,429
Amortization of (premium) discount on notes payable, net	(2,627		)	1,183			2,817
Amortization of deferred financing fees	2,485			2,232			1,924
Depreciation and amortization	90,896			98,597			69,077
Share-based compensation expense	6,863			6,992			6,497
Amortization of derivatives	64			64			63
Gain on sale of real estate	(16,588		)	(9,948		)	(2,511		)
Loss (gain) on extinguishment of debt	30,602			2,396			(63		)
Gain on sale of securities	—			—			(366		)
Operating distributions from joint venture	3,337			1,504			—
Impairment loss	29,441			57,336			687
Changes in assets and liabilities, net of effects of acquisitions and disposals:
Accounts and other receivables	2,241			(2,394		)	(7,497		)
Other assets	26,824			(15,198		)	(7,849		)
Accounts payable and accrued expenses	(12,780		)	(142		)	(6,522		)
Tenant security deposits	787			(1,076		)	(273		)
Other liabilities	2,978			(582		)	2,099
Net cash provided by operating activities	153,219			102,626			71,562
INVESTING ACTIVITIES:
Acquisition of income producing properties	(243,549		)	(279,080		)	(108,096		)
Additions to income producing properties	(20,175		)	(16,396		)	(9,857		)
Acquisition of land held for development	(9,505		)	—			(1,337		)
Additions to construction in progress	(65,143		)	(43,097		)	(9,914		)
Proceeds from sale of real estate and rental properties	41,994			399,396			4,317
Decrease (increase) in cash held in escrow	91,592			(91,591		)	—
Increase in deferred leasing costs and lease intangibles	(7,169		)	(7,154		)	(4,761		)
Investment in joint ventures	(26,392		)	(15,024		)	(13,927		)
Investment in consolidated subsidiary	—			(242		)	(13,437		)
Repayments of advances/(advances) to joint ventures	517			34,887			(33,417		)
Distributions from joint ventures	567			18,786			345
Investment in loans receivable	(114,258		)	(45,100		)	—
Repayment of loans receivable	19,258			—			—
Proceeds from sale of securities	—			—			841
Net cash used in investing activities	(332,263		)	(44,615		)	(189,243		)

(Continued)

See accompanying notes to the consolidated financial statements.

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EQUITY ONE, INC. AND SUBSIDIARIES

Consolidated Statements of Cash Flows

For the years ended December 31, 2012, 2011 and 2010

(In thousands)

	2012			2011			2010
FINANCING ACTIVITIES:
Repayments of mortgage notes payable	(66,173		)	(246,864		)	(74,757		)
Net borrowings under revolving credit facilities	34,000			138,000			—
Proceeds from senior debt borrowings	296,823			—			—
Repayment of senior debt borrowings	(287,840		)	—			—
Proceeds from issuance of common stock	85,838			116,542			270,698
Borrowings under term loan	250,000			—			—
Payment of deferred financing costs	(3,251		)	(5,039		)	(967		)
Stock issuance costs	(883		)	(1,185		)	(3,319		)
Dividends paid to stockholders	(102,078		)	(98,842		)	(83,611		)
Distributions to noncontrolling interests	(9,995		)	—			—
Distributions to redeemable noncontrolling interests	(944		)	(11,405		)	—
Net cash provided by (used in) financing activities	195,497			(108,793		)	108,044
Net increase (decrease) in cash and cash equivalents	16,453			(50,782		)	(9,637		)
Cash and cash equivalents obtained through acquisition	—			23,412			—
Cash and cash equivalents at beginning of the year	10,963			38,333			47,970
Cash and cash equivalents at end of the year	$	27,416		$	10,963		$	38,333
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for interest (net of capitalized interest of $4.7 million, $2.3    million and $2.2 million in 2012, 2011 and 2010, respectively)	$	74,030		$	84,278		$	75,747
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND    FINANCING ACTIVITIES:
We acquired upon acquisition of certain income producing properties:
Income producing properties	$	261,139		$	471,984		193,661
Intangible and other assets	60,357			35,802			24,998
Intangible and other liabilities	(39,809		)	(81,100		)	(50,946		)
Assumption of mortgage notes payable	(38,138		)	(128,722		)	(56,742		)
Noncontrolling interest in Canyon Trials Towne Center	—			(18,884		)	(2,875		)
Cash paid for income producing properties	$	243,549		$	279,080		$	108,096
Net cash paid for the acquisition of C&C (US) No. 1 is as follows:
Income producing properties	$	—		$	471,219		—
Intangible and other assets	—			113,484			—
Intangible and other liabilities	—			(35,898		)	—
Assumption of mortgage notes payable	—			(261,813		)	—
Issuance of Equity One common stock	—			(73,698		)	—
Noncontrolling interest in C&C (US) No. 1	—			(206,145		)	—
Gain on bargain purchase	—			(30,561		)	—
Cash acquired upon acquisition of C&C (US) No. 1	—			23,412			—
Net cash paid for acquisition of C&C (US) No. 1	$	—		$	—		$	—
Net cash paid for acquisition of income producing properties	$	243,549		$	279,080		$	108,096

(Concluded)

See accompanying notes to the consolidated financial statements.

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EQUITY ONE, INC. AND SUBSIDIARIES

Notes to Consolidated Financial Statements

For the years ended December 31, 2012, 2011 and 2010

1. Organization and Basis of Presentation

Organization

We are a real estate investment trust, or REIT, that owns, manages, acquires, develops and redevelops shopping centers and retail properties located primarily in supply constrained suburban and urban communities. We were organized as a Maryland corporation in 1992, completed our initial public offering in May 1998, and have elected to be taxed as a REIT since 1995.

As of December 31, 2012, our consolidated property portfolio comprised 168 properties, including 144 retail properties and six non-retail properties totaling approximately 16.9 million square feet of gross leasable area, or GLA, 11 development or redevelopment properties with approximately 2.2 million square feet of GLA upon completion, and seven land parcels. As of December 31, 2012, our core portfolio was 92.1% leased and included national, regional and local tenants. Additionally, we had joint venture interests in 18 retail properties and two office buildings totaling approximately 3.3 million square feet of GLA.

Basis of Presentation

The consolidated financial statements include the accounts of Equity One, Inc. and our wholly-owned subsidiaries and those other entities where we have a controlling financial interest, including where we have been determined to be a primary beneficiary of a variable interest entity (“VIE”) in accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”). Equity One, Inc. and its subsidiaries are hereinafter referred to as “the consolidated companies”, the “Company”, “we”, “our”, “us” or similar terms. All significant intercompany transactions and balances have been eliminated in consolidation. Certain prior-period data have been reclassified to conform to the current period presentation. Certain operations have been classified as discontinued and associated results of operations and financial position are separately reported for all periods presented. Information in these notes to the consolidated financial statements, unless otherwise noted, does not include the accounts of discontinued operations.

2. Summary of Significant Accounting Policies

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”), requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.

Properties

Income producing properties are stated at cost, less accumulated depreciation and amortization. Costs include those related to acquisition, development and construction, including tenant improvements, interest incurred during development, costs of predevelopment and certain direct and indirect costs of development. Costs related to business combinations are expensed as incurred, and are included in general and administrative expenses in our consolidated statements of operations.

Depreciation and amortization is computed using the straight-line method over the estimated useful lives of the assets as follows:

Buildings	30-55 years
Buildings and land improvements	2-40 years
Tenant improvements	Lesser of minimum lease term or economic useful life
Furniture and equipment	5-7 years

Expenditures for ordinary maintenance and repairs are expensed to operations as they are incurred. Significant renovations and improvements that improve or extend the useful lives of assets are capitalized.

Business Combinations

We allocate the purchase price of acquired properties to land, building, improvements and intangible assets and liabilities in accordance with the Business Combinations Topic of the FASB ASC. We allocate the initial purchase price of assets acquired (net tangible and identifiable intangible assets) and liabilities assumed based on their relative fair values at the date of acquisition.

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Upon acquisition of real estate operating properties, we estimate the fair value of acquired tangible assets (consisting of land, building, building improvements and tenant improvements) and identified intangible assets and liabilities (consisting of above and below-market leases, in-place leases and tenant relationships), assumed debt and redeemable units issued at the date of acquisition, based on the evaluation of information and estimates available at that date. Based on these estimates, we allocate the estimated fair value to the applicable assets and liabilities. Fair value is determined based on an exit price approach, which contemplates the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. If, up to one year from the acquisition date, information regarding fair value of the assets acquired and liabilities assumed is received and estimates are refined, appropriate adjustments are made to the purchase price allocation on a retrospective basis. There are four categories of intangible assets and liabilities to be considered: (1) in-place leases; (2) above and below-market value of in-place leases; (3) lease origination costs and (4) customer relationships. The aggregate value of other acquired intangible assets, consisting of in-place leases, is measured by the excess of (i) the purchase price paid for a property after adjusting existing in-place leases, including fixed rate renewal options, to market rental rates over (ii) the estimated fair value of the property as-if-vacant, determined as set forth above. The value of in-place leases exclusive of the value of above-market and below-market in-place leases is amortized to depreciation expense over the estimated remaining term of the respective leases. The value of above-market and below-market in-place leases is amortized to rental revenue over the estimated remaining term of the leases. If a lease terminates prior to its stated expiration, all unamortized amounts relating to that lease are written off.

In allocating the purchase price to identified intangible assets and liabilities of an acquired property, the value of above-market and below-market leases is estimated based on the present value of the difference between the contractual amounts, including fixed rate renewal options, to be paid pursuant to the leases and management’s estimate of the market lease rates and other lease provisions (i.e., expense recapture, base rental changes, etc.) measured over a period equal to the estimated remaining term of the lease. The capitalized above-market or below-market intangible is amortized to rental income over the estimated remaining term of the respective lease, which includes the expected renewal option period, if applicable.

The results of operations of acquired properties are included in our financial statements as of the dates they are acquired. The intangible assets and liabilities associated with property acquisitions are included in other assets and other liabilities in our consolidated balance sheets.

Construction in Progress and Land Held for Development

Properties also include construction in progress and land held for development. These properties are carried at cost and no depreciation is recorded. Properties undergoing significant renovations and improvements are considered under development. All direct and indirect costs related to development activities are capitalized into construction in progress and land held for development on our consolidated balance sheets, except for certain demolition costs, which are expensed as incurred. Costs incurred include predevelopment expenditures directly related to a specific project including development and construction costs, interest, insurance and real estate taxes. Indirect development costs include employee salaries and benefits, travel and other related costs that are directly associated with the development of the property. Our method of calculating capitalized interest is based upon applying our weighted average borrowing rate to the actual costs incurred. The capitalization of such expenses ceases when the property is ready for its intended use, but no later than one-year from substantial completion of major construction activity. If we determine that a project is no longer viable, all predevelopment project costs are immediately expensed. Similar costs related to properties not under development are expensed as incurred.

Long-lived Assets

Properties Held and Used

We evaluate the carrying value of long-lived assets, including definite-lived intangible assets, when events or changes in circumstances indicate that the carrying value may not be recoverable in accordance with the Property, Plant and Equipment Topic of the FASB ASC. The carrying value of a long-lived asset is considered impaired when the total projected undiscounted cash flows from such asset is separately identifiable and is less than its carrying value. In that event, a loss is recognized based on the amount by which the carrying value exceeds the fair value of the long-lived asset. The fair value of fixed (tangible) assets and definite-lived intangible assets is determined primarily using either internal projected cash flows discounted at a rate commensurate with the risk involved or an external appraisal. At December 31, 2012, we reviewed the operating properties and construction in progress for impairment on a property-by-property and project-by-project basis in accordance with the Property, Plant and Equipment Topic of the FASB ASC, as we determined management's capital recycling initiatives and the fair values obtained from recent appraisals to be general indicators of impairment.

Each property was assessed individually and as a result, the assumptions used to derive future cash flows varied by property or project. These key assumptions are dependent on property-specific conditions, are inherently uncertain and consider the perspective of a third-party marketplace participant. The factors that may influence the assumptions include:

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• historical project performance, including current occupancy, projected capitalization rates and net operating income;

• competitors’ presence and their actions;

• property specific attributes such as location desirability, anchor tenants and demographics;

• current local market economic and demographic conditions; and

• future expected capital expenditures and the period of time before net operating income is stabilized.

After considering these factors, we project future cash flows for each property based on management’s intention for that property (holding period) and, if appropriate, an assumed sale at the final year of the holding period (reversion value) using a projected capitalization rate. If the resulting carrying amount of the property exceeds the estimated undiscounted cash flows (including the projected reversion value) from the property, an impairment charge would be recognized to reduce the carrying value of the property to its fair value.

Properties Held for Sale

Properties held for sale are recorded at the lower of the carrying amount or the expected sales price less costs to sell. The sale or disposal of a “component of an entity” is treated as discontinued operations. The operating properties sold by us typically meet the definition of a component of an entity and as such the revenue and expenses associated with sold properties are reclassified to discontinued operations for all periods presented.

The application of current accounting principles that govern the classification of any of our properties as held-for-sale on the consolidated balance sheet, or the presentation of results of operations and gains or losses on the sale of these properties as discontinued, requires management to make certain significant judgments. In evaluating whether a property meets the criteria set forth by the Property, Plant and Equipment Topic of the FASB ASC, we make a determination as to the point in time that it is probable that a sale will be consummated. Given the nature of all real estate sales contracts, it is not unusual for such contracts to allow potential buyers a period of time to evaluate the property prior to formal acceptance of the contract. In addition, certain other matters critical to the final sale, such as financing arrangements often remain pending even upon contract acceptance. As a result, properties under contract may not close within the expected time period, or may not close at all. Therefore, any properties categorized as held-for-sale represent only those properties that management has determined are probable to close within the requirements set forth in the Property, Plant and Equipment Topic of the FASB ASC. Prior to sale, we evaluate the extent of involvement with, and the significance to us of cash flows from a property subsequent to its sale, in order to determine if the results of operations and gain or loss on sale should be reflected as discontinued. Consistent with the Property, Plant and Equipment Topic of the FASB ASC, any property sold in which we have continuing involvement or cash flows (typically sales to co-investment partnerships that we do not control and for which we have recognized a partial sale of real estate) is not considered to be discontinued. In addition, any property which we sell to an unrelated third party, but in which we retain a property or asset management function, is not considered discontinued. Therefore, based on our evaluation of the Property, Plant and Equipment Topic of the FASB ASC only properties sold, or to be sold, to unrelated third parties where we will have no continuing involvement or cash flows are classified as discontinued operations.

Cash and Cash Equivalents

We consider liquid investments with a purchase date life to maturity of three months or less to be cash equivalents.

Cash Held in Escrow and Restricted Cash

Cash held in escrow and restricted cash represents the cash proceeds of property sales that are being held by qualified intermediaries in anticipation of the acquisition of replacement properties in tax-free exchanges under Section 1031 of the Internal Revenue Code of 1986, as amended (the "Code") or cash that is not immediately available to us.

Accounts and Other Receivables

Accounts receivable includes amounts billed to tenants and accrued expense recoveries due from tenants. We make estimates of the uncollectability of our accounts receivable using the specific identification method. We analyze accounts receivable and historical bad debt levels, tenant credit-worthiness, payment history and industry trends when evaluating the adequacy of the allowance for doubtful accounts. Accounts receivable are written-off when they are deemed to be uncollectable and we are no longer actively pursuing collection. Our reported net income is directly affected by management’s estimate of the collectability of accounts receivable.

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Investments in Joint Ventures

We analyze our joint ventures under the FASB ASC Topics of Consolidation and Real Estate-General in order to determine whether the entity should be consolidated. If it is determined that these investments do not require consolidation because the entities are not VIEs in accordance with the Consolidation Topic of the FASB ASC, we are not considered the primary beneficiary of the entities determined to be VIEs, we do not have voting control, and/or the limited partners (or non-managing members) have substantive participatory rights, then the selection of the accounting method used to account for our investments in unconsolidated joint ventures is generally determined by our voting interests and the degree of influence we have over the entity. Management uses its judgment when determining if we are the primary beneficiary of, or have a controlling financial interest in, an entity in which we have a variable interest. Factors considered in determining whether we have the power to direct the activities that most significantly impact the entity’s economic performance include risk and reward sharing, experience and financial condition of the other partners, voting rights, involvement in day-to-day capital and operating decisions and the extent of our involvement in the entity.

We use the equity method of accounting for investments in unconsolidated joint ventures when we own 20% or more of the voting interests and have significant influence but do not have a controlling financial interest, or if we own less than 20% of the voting interests but have determined that we have significant influence. Under the equity method, we record our investments in and advances to these entities in our consolidated balance sheets and our proportionate share of earnings or losses earned by the joint venture is recognized in equity in income (loss) of unconsolidated joint ventures in the accompanying consolidated statements of operations. We derive revenue through our involvement with unconsolidated joint ventures in the form of management and leasing services and interest earned on loans and advances. We account for this revenue gross of our ownership interest in each respective joint venture and record our proportionate share of related expenses in equity in income (loss) of unconsolidated joint ventures.

The cost method of accounting is used for unconsolidated entities in which we do not have the ability to exercise significant influence and we have virtually no influence over partnership operating and financial policies. Under the cost method, income distributions from the partnership are recognized in investment income. Distributions that exceed our share of earnings are applied to reduce the carrying value of our investment and any capital contributions will increase the carrying value of our investment. The fair value of a cost method investment is not estimated if there are no identified events or changes in circumstances that may have a significant adverse effect on the fair value of the investment.

These joint ventures typically obtain non-recourse third-party financing on their property investments, thus contractually limiting our exposure to losses to the amount of our equity investment, and, due to the lender’s exposure to losses, a lender typically will require a minimum level of equity in order to mitigate its risk. Our exposure to losses associated with unconsolidated joint ventures is primarily limited to the carrying value of these investments.

On a periodic basis, we evaluate our investments in unconsolidated entities for impairment in accordance with the Investments-Equity Method and Joint Ventures Topic of the FASB ASC. We assess whether there are any indicators, including underlying property operating performance and general market conditions, that the value of our investments in unconsolidated joint ventures may be impaired. An investment in a joint venture is considered impaired only if we determine that its fair value is less than the net carrying value of the investment in that joint venture on an other-than-temporary basis. Cash flow projections for the investments consider property level factors such as expected future operating income, trends and prospects, as well as the effects of demand, competition and other factors. We consider various qualitative factors to determine if a decrease in the value of our investment is other-than-temporary. These factors include age of the venture, our intent and ability to retain our investment in the entity, financial condition and long-term prospects of the entity and relationships with our partners and banks. If we believe that the decline in the fair value of the investment is temporary, no impairment charge is recorded. If our analysis indicates that there is an other-than-temporary impairment related to the investment in a particular joint venture, the carrying value of the venture will be adjusted to an amount that reflects the estimated fair value of the investment.

Loans Receivable

Loans receivable include both mortgage loans and mezzanine loans and are classified as held to maturity and recorded at the stated principal amount plus allowable deferred loan costs or fees, which are amortized as an adjustment of the loan’s yield over the term of the related loan. We evaluate the collectability of both interest and principal on the loan periodically to determine whether it is impaired. A loan is considered to be impaired when, based upon current information and events, it is probable that we will be unable to collect all amounts due according to the existing contractual terms. When a loan is considered to be impaired, the amount of loss is calculated by comparing the recorded investment to the value determined by discounting the expected future cash flows at the loan’s effective interest rate or to the proportionate value of the underlying collateral asset if applicable. Interest income on performing loans is accrued as earned.

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Goodwill

Goodwill reflects the excess of the fair value of the acquired business over the fair value of net identifiable assets acquired in various business acquisitions. We account for goodwill in accordance with the Intangibles – Goodwill and Other Topic of the FASB ASC.

We perform annual, or more frequently in certain circumstances, impairment tests of our goodwill. We have elected to test for goodwill impairment in November of each year. The goodwill impairment test is a two-step process that requires us to make decisions in determining appropriate assumptions to use in the calculation. The first step consists of estimating the fair value of each reporting unit and comparing those estimated fair values with the carrying values, which include the allocated goodwill. If the estimated fair value is less than the carrying value, a second step is performed to compute the amount of the impairment, if any, by determining an “implied fair value” of goodwill. The determination of each reporting unit’s (each property is considered a reporting unit) implied fair value of goodwill requires us to allocate the estimated fair value of the reporting unit to its assets and liabilities. Any unallocated fair value represents the implied fair value of goodwill which is compared to its corresponding carrying amount.

Deposits

Deposits included in other assets comprise funds held by various institutions for future payments of property taxes, insurance, improvements, utility and other service deposits.

Deferred Costs and Intangibles

Deferred costs, intangible assets included in other assets, and intangible liabilities included in other liabilities consist of loan origination fees, leasing costs and the value of intangible assets and liabilities when a property was acquired. Loan and other fees directly related to rental property financing with third parties are amortized over the term of the loan using the effective interest method. Direct salaries, third-party fees and other costs incurred by us to originate a lease are capitalized and are amortized against the respective leases using the straight-line method over the term of the related leases. Intangible assets consist of in-place lease values, tenant origination costs and above-market rents that were recorded in connection with the acquisition of the properties. Intangible liabilities consist of below-market rents that are also recorded in connection with the acquisition of properties. Both intangible assets and liabilities are amortized and accreted using the straight-line method over the term of the related leases. When a lease is terminated early, any remaining unamortized or unaccreted balances under lease intangible assets or liabilities are charged to earnings. The useful lives of amortizable intangible assets are evaluated each reporting period with any changes in estimated useful lives being accounted for over the revised remaining useful life.

Noncontrolling Interests

Noncontrolling interests generally represent the portion of equity that we do not own in those entities that we consolidate. We account for and report our noncontrolling interests in accordance with the provisions required under the Consolidation Topic of the FASB ASC.

We identify our noncontrolling interests separately within the equity section on the consolidated balance sheets. Noncontrolling interests also include amounts related to joint venture units issued by consolidated subsidiaries or VIEs in connection with certain property acquisitions. Joint venture units which are redeemable for cash at the holder’s option or upon a contingent event outside of our control are classified as redeemable noncontrolling interests pursuant to the Distinguishing Liabilities from Equity Topic of the FASB ASC and are presented at redemption value in the mezzanine section between total liabilities and stockholders’ equity on the consolidated balance sheets. The amounts of consolidated net (loss) income attributable to Equity One, Inc. and to the noncontrolling interests are presented on the consolidated statements of operations.

Derivative Instruments and Hedging Activities

At times, we may use derivative instruments to manage exposure to variable interest rate risk. We generally enter into interest rate swaps to manage our exposure to variable interest rate risk and treasury locks to manage the risk of interest rates rising prior to the issuance of debt. We enter into derivative instruments that qualify as cash flow hedges and do not enter into derivative instruments for speculative purposes. The interest rate swaps associated with our cash flow hedges are recorded at fair value on a recurring basis. We assess effectiveness of our cash flow hedges both at inception and on an ongoing basis. The effective portion of changes in fair value of the interest rate swaps associated with our cash flow hedges is recorded in accumulated other comprehensive loss and is subsequently reclassified into interest expense as interest is incurred on the related variable rate debt. Within the next 12 months, we expect to reclassify $3.1 million as an increase to interest expense. Our cash flow hedges become ineffective if critical terms of the hedging instrument and the debt instrument do not perfectly match such as notional amounts, settlement dates, reset dates, calculation period and LIBOR rate. In addition, we evaluate the default risk of the counterparty by monitoring the credit worthiness of the counterparty. When ineffectiveness exists, the ineffective portion of changes in fair value of the interest rate

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swaps associated with our cash flow hedges is recognized in earnings in the period affected. Hedge ineffectiveness has not impacted earnings in 2012, and we do not anticipate it will have a significant effect in the future. Derivative instruments and hedging activities require management to make judgments on the nature of its derivatives and their effectiveness as hedges. These judgments determine if the changes in fair value of the derivative instruments are reported in the consolidated statements of operations as a component of net (loss) income or as a component of comprehensive (loss) income and as a component of stockholders’ equity of Equity One, Inc. on the consolidated balance sheets. While management believes its judgments are reasonable, a change in a derivative’s effectiveness as a hedge could materially affect expenses, net income and equity. See Note 14 for further detail on derivative activity.

Revenue Recognition

Revenue includes minimum rents, expense recoveries, percentage rental payments and management and leasing services. Minimum rents are recognized on an accrual basis over the terms of the related leases on a straight-line basis. As part of the leasing process, we may provide the lessee with an allowance for the construction of leasehold improvements. Leasehold improvements are capitalized and recorded as tenant improvements and depreciated over the shorter of the useful life of the improvements or the lease term. If the allowance represents a payment for a purpose other than funding leasehold improvements, or in the event we are not considered the owner of the improvements, the allowance is considered a lease incentive and is recognized over the lease term as a reduction to revenue. Factors considered during this evaluation include, among others, the type of improvements made, who holds legal title to the improvements, and other controlling rights provided by the lease agreement. Lease revenue recognition commences when the lessee is given possession of the leased space, when the asset is substantially complete in the case of leasehold improvements, and there are no contingencies offsetting the lessee’s obligation to pay rent.

Many of the lease agreements contain provisions that require the payment of additional rents based on the respective tenants’ sales volume (contingent or percentage rent) and substantially all contain provisions that require reimbursement of the tenants’ allocable real estate taxes, insurance and common area maintenance costs (“CAM”). Revenue based on percentage of tenants’ sales is recognized only after the tenant exceeds its sales breakpoint. Revenue from tenant reimbursements of taxes, CAM and insurance is recognized in the period that the applicable costs are incurred in accordance with the lease agreements.

We recognize gains or losses on sales of real estate in accordance with the Property, Plant and Equipment Topic of the FASB ASC. Profits are not recognized until (a) a sale has been consummated; (b) the buyer’s initial and continuing investments are adequate to demonstrate a commitment to pay for the property; (c) our receivable, if any, is not subject to future subordination; and (d) we have transferred to the buyer the usual risks and rewards of ownership, and we do not have a substantial continuing involvement with the property.

We are engaged by certain joint ventures to provide asset management, property management, leasing and investing services for such venture’s respective assets. We receive fees for our services, including a property management fee calculated as a percentage of gross revenue received, and recognize these fees as the services are rendered.

Earnings Per Share

Under the Earnings Per Share Topic of the FASB ASC, unvested share-based payment awards that entitle their holders to receive non-forfeitable dividends, such as our restricted stock awards, are classified as “participating securities.” As participating securities, our shares of restricted stock will be included in the calculation of basic and diluted earnings per share. Because the awards are considered participating securities under provisions of the Earnings Per Share Topic of the FASB ASC, we are required to apply the two-class method of computing basic and diluted earnings per share. The two-class method is an earnings allocation formula that treats a participating security as having rights to earnings that would otherwise have been available to common stockholders. Under the two-class method, earnings for the period are allocated between common stockholders and other security holders, based on their respective rights to receive dividends.

Segment Information

We invest in properties through direct ownership or through joint ventures. It is our intent that all properties will be owned or developed for investment purposes; however, we may decide to sell all or a portion of a development upon completion. Our revenue and net income are generated from the operation of our investment property. We also earn fees from third parties for services provided to manage and lease retail shopping centers owned through joint ventures or by third parties.

We review operating and financial data for each property on an individual basis; therefore each of our individual properties is a separate operating segment. We have aggregated our operating segments in six reportable segments based primarily upon our method of internal reporting which classifies our operations by geographical area. Our reportable segments by geographical area are as follows: (1) South Florida – including Miami-Dade, Broward and Palm Beach Counties; (2) North Florida – including all of Florida north of Palm Beach County; (3) Southeast - including Georgia, Louisiana, Alabama, Mississippi, North Carolina, South

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Carolina and Virginia; (4) Northeast – including Connecticut, Maryland, Massachusetts and New York; (5) West Coast – including California and Arizona; and (6) Other/Non-retail – which comprises our non-retail assets. Our segments as reported in this Annual Report on Form 10-K for the year ended December 31, 2012 are not consistent with our segments as reported in our Annual Report on Form 10-K for the year ended December 31, 2011. We have divided our previously combined North Florida and Southeast region into two separate regions in this Annual Report on Form 10-K for the period ended December 31, 2012, as a result of a change in management responsibilities for the North Florida region during the first quarter of 2012 and corresponding changes in our internal reporting. These changes have been reflected in our segment disclosures for all periods presented herein.

Concentration of Credit Risk

A concentration of credit risk arises in our business when a national or regionally based tenant occupies a substantial amount of space in multiple properties owned by us. In that event, if the tenant suffers a significant downturn in its business, it may become unable to make its contractual rent payments to us, exposing us to potential losses in rental revenue, expense recoveries, and percentage rent. Further, the impact may be magnified if the tenant is renting space in multiple locations. Generally, we do not obtain security from our nationally-based or regionally-based tenants in support of their lease obligations to us. We regularly monitor our tenant base to assess potential concentrations of credit risk. As of December 31, 2012, Publix Super Markets was our largest tenant and accounted for approximately 1.8 million square feet, or approximately 9.9% of our GLA, and approximately $14.5 million, or 5.7%, of our annual minimum rent. As of December 31, 2012, we had outstanding receivables from Publix Super Markets of approximately $527,000. No other tenant accounted for more than 5.0% of our annual minimum rent.

Recent Accounting Pronouncements

In May 2011, the FASB issued Accounting Standards Update (“ASU”) 2011-04, "Fair Value Measurement (Topic 820): Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and International Financial Reporting Standards ("IFRSs")." The guidance under ASU 2011-04 amends certain accounting and disclosure requirements related to fair value measurements to ensure that fair value has the same meaning in U.S. GAAP and in IFRS and that their respective fair value measurement and disclosure requirements are the same. This guidance contains certain updates to the measurement guidance as well as enhanced disclosure requirements. The most significant change in disclosures is an expansion of the information required for “Level 3” measurements including enhanced disclosure for: (1) the valuation processes used by the reporting entity and (2) the sensitivity of the fair value measurement to changes in unobservable inputs and the interrelationships between those unobservable inputs, if any. This guidance is effective for interim and annual periods beginning on or after December 15, 2011. We have incorporated the required disclosures where deemed applicable and the adoption and implementation of this ASU did not have a material impact on our results of operations, financial condition or cash flows.

In June 2011, the FASB issued ASU No. 2011-05, “Presentation of Comprehensive Income” which revises the manner in which companies present comprehensive income. Under ASU No. 2011-05, companies may present comprehensive income, which is net income adjusted for the components of other comprehensive income, either in a single continuous statement of comprehensive income or by using two separate but consecutive statements. Regardless of the alternative chosen, companies must display adjustments for items reclassified from other comprehensive income into net income within the presentation of both net income and other comprehensive income. ASU 2011-05 is effective for interim and annual periods beginning after December 15, 2011, on a retrospective basis. In December 2011, the FASB issued ASU No. 2011-12,”Deferral of the Effective Date for Amendments to the Presentation of Reclassifications of Items Out of Accumulated Other Comprehensive Income in ASU 2011-05.” ASU 2011-12 defers the requirement that companies present reclassification adjustments for each component of accumulated other comprehensive income in both net income and other comprehensive income on the face of the financial statements. Reclassifications out of accumulated other comprehensive income are to be presented either on the face of the financial statement in which other comprehensive income is presented or disclosed in the notes to the financial statements. Reclassification adjustments into net income need not be presented during the deferral period. This action does not affect the requirement to present items of net income, other comprehensive income and total comprehensive income in a single continuous or two consecutive statements. The effective date for the deferred portion has not yet been determined. When adopted, the deferred portion of the guidance is not expected to materially impact our consolidated financial statements. We have incorporated the required disclosures where deemed applicable and the adoption and implementation of this ASU did not have an impact on our results of operations, financial condition or cash flows.

In September 2011, the FASB issued ASU No. 2011-08, “Testing Goodwill for Impairment(the revised standard)”. Under ASU No. 2011-08 companies have the option to perform a qualitative assessment that may allow them to skip the annual two-step test and reduce costs. The guidance is effective for fiscal years beginning after December 15, 2011. The adoption and implementation of this ASU did not have a material impact on our results of operations, financial condition or cash flows.

In December 2011, the FASB issued ASU No. 2011-10, “Derecognition of in Substance Real Estate”. The amendments in ASU 2011-10 resolve the diversity in practice about whether the guidance in Subtopic 360-20 applies to the derecognition of in substance

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real estate when the parent ceases to have a controlling financial interest (as described in Subtopic 810-10) in a subsidiary that is in substance real estate because of a default by the subsidiary on its nonrecourse debt. The guidance emphasizes that the accounting for such transactions is based on their substance rather than their form. The amendments in the ASU should be applied on a prospective basis to deconsolidation events occurring after the effective date. Prior periods should not be adjusted even if the reporting entity has continuing involvement with previously derecognized in substance real estate entities. The guidance is effective for fiscal years, and interim periods within those years, beginning on or after June 15, 2012. The adoption and implementation of this ASU did not have a material impact on our results of operations, financial condition or cash flows.

In December 2011, the FASB issued ASU No. 2011-11, “Disclosures about Offsetting Assets and Liabilities”. Under ASU 2011-11 disclosures are required to provide information to help reconcile differences in the offsetting requirements under U.S. GAAP and IFRS. The new disclosure requirements mandate that entities disclose both gross and net information about instruments and transactions eligible for offset in the statement of financial position as well as instruments and transactions subject to an agreement similar to a master netting arrangement. In addition, the ASU requires disclosure of collateral received and posted in connection with master netting agreements or similar arrangements. The guidance is effective for fiscal years, and interim periods within those years, beginning on or after January 1, 2013. We do not believe that the adoption of this ASU will have a material impact on our results of operations, financial condition or cash flows.

In July 2012, the FASB issued Accounting Standards Update No. 2012-02, “Testing Indefinite-Lived Intangible Assets for Impairment (the revised standard)". The revised standard is intended to reduce the cost and complexity of testing indefinite-lived intangible assets, other than goodwill, for impairment. It allows companies to perform a "qualitative" assessment to determine whether further impairment testing of indefinite-lived intangible assets is necessary, similar in approach to the goodwill impairment test. The revised standard is effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012, and earlier adoption is permitted. We do not believe that the adoption of this ASU will have a material impact on our results of operations, financial condition or cash flows.

3. Properties

The following table is a summary of the composition of income producing properties in the consolidated balance sheets:

	December 31,
	2012			2011
	(In thousands)
Land and land improvements	$	1,362,343		$	1,211,691
Building and building improvements	1,688,791			1,520,772
Tenant improvements	97,834			97,562
	3,148,968			2,830,025
Less: accumulated depreciation	(335,862		)	(277,197		)
Income producing property, net	$	2,813,106		$	2,552,828

Capitalized Costs

We capitalized external and internal costs related to development and redevelopment activities of $82.7 million and $1.1 million, respectively, in 2012 and $45.9 million and $544,000, respectively, in 2011. We capitalized external and internal costs related to other property improvements of $21.2 million and $100,000, respectively in 2012, and $24.6 million and $173,000, respectively, in 2011. We capitalized external and internal costs related to successful leasing activities of $2.5 million and $3.8 million, respectively, in 2012 and $4.0 million and $3.2 million, respectively, in 2011.

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4. Acquisitions

The following table provides a summary of acquisition activity during the year ended December 31, 2012:

Date Purchased	Property Name	City	State	Square Feet/Acres		Purchase Price		Mortgage Assumed
						(In thousands)
December 27, 2012	200 Potrero (1)	San Francisco	CA	30,500		$	5,750	$	—
October 5, 2012	1225-1239 Second Avenue (1)	New York	NY	18,474		27,500		16,686
October 1, 2012	Broadway Plaza - land outparcel	Bronx	NY	0.17	(3)	2,000		—
September 28, 2012	Clocktower Plaza Shopping Center (1)	Queens	NY	78,820		56,000		—
August 28, 2012	Darinor Plaza (1) (2)	Norwalk	CT	152,025		36,000		18,765
June 8, 2012	Broadway Plaza - land parcel	Bronx	NY	1.83	(3)	7,500		—
March 1, 2012	Potrero Center	San Francisco	CA	226,699		110,750		—
March 1, 2012	Compo Acres Shopping Center	Westport	CT	43,107		30,300		—
March 1, 2012	Post Road Plaza	Darien	CT	20,005		12,700		—
Total						$	288,500	$	35,451

^{______________________________________________} 

⁽¹⁾ The purchase price has been preliminarily allocated to real estate assets acquired and liabilities assumed, as applicable, in accordance with our accounting policies for business combinations. The purchase price and related accounting will be finalized after our valuation studies are complete.

⁽²⁾ Property is subject to a ground lease which expires in 2076.

⁽³⁾ In acres.

During the year ended December 31, 2012, we did not recognize any material measurement period adjustments related to prior or current year acquisitions.

In conjunction with the acquisitions of Clocktower Plaza Shopping Center and Compo Acres Shopping Center, we entered into reverse Section 1031 like-kind exchange agreements with third party intermediaries, which are for a maximum of 180 days and allow us, for tax purposes, to defer gains on the sale of other properties identified and sold within this period. Until the earlier of termination of the exchange agreements or 180 days after the respective acquisition dates, the third party intermediaries are the legal owner of each property; however, we control the activities that most significantly impact each property and retain all of the economic benefits and risks associated with each property. Therefore, at the date of acquisition, we determined that we were the primary beneficiary of these VIEs and consolidated the properties and their operations as of the respective acquisition dates noted above. Legal ownership for Compo Acres Shopping Center was transferred to us by the qualified intermediary during the first quarter of 2012.

During the year ended December 31, 2011, we acquired nine shopping centers for an aggregate purchase price of $419.2 million, including mortgages assumed of approximately $121.2 million.

During the years ended December 31, 2012, 2011 and 2010 , excluding costs related to C&C (US) No. 1, Inc. ("CapCo") and DIM Vastgoed, N.V. (“DIM”), we expensed approximately $3.4 million, $7.0 million and $1.4 million, respectively, of transaction-related costs in connection with completed or pending property acquisitions which are included in general and administrative costs in the consolidated statements of operations. The purchase price related to the 2012 acquisitions listed in the above table was funded by the use of our line of credit, cash on hand, and proceeds from our term loan, the equity offering and dispositions. In connection with the 2012 acquisitions, we assumed mortgages with a total principal balance of $35.5 million, which mature between May 1, 2015 and June 1, 2016, and bear interest at rates between 5.37% and 6.33%.

5. Acquisition of a Controlling Interest in CapCo

On January 4, 2011, we acquired a controlling ownership interest in CapCo, through a joint venture with Liberty International Holdings Limited, or LIH. At the time of the acquisition, CapCo, which was previously wholly-owned by LIH, owned a portfolio of 13 properties in California totaling approximately 2.6 million square feet of GLA, including Serramonte Shopping Center in Daly City, Plaza Escuela in Walnut Creek, The Willows Shopping Center in Concord, 222 Sutter Street in San Francisco, and The Marketplace Shopping Center in Davis. LIH is a subsidiary of Capital Shopping Centres Group PLC, a United Kingdom real estate

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investment trust. The results of CapCo’s operations have been included in our consolidated financial statements from the date of acquisition.

At the closing of the transaction, LIH contributed all of the outstanding shares of CapCo’s common stock to the joint venture in exchange for Class A Shares in the joint venture, representing an approximate 22% interest in the joint venture and we contributed a shared appreciation promissory note to the joint venture in the amount of $600.0 million and an additional $84.3 million in exchange for an approximate 78% interest in the joint venture, which consists of approximately 70% of the Class A joint venture shares and all of the Class B joint venture shares. The initial Class B joint venture shares are entitled to a preferred return of 1.5% per quarter. The actual payment of such amounts is limited to the extent that there is available cash remaining in any given period (subsequent to the payment of dividend equivalents to the holders of the Class A joint venture shares) and a decision to make such a distribution by the board of the joint venture. Any remaining available cash after the preferred return is paid in a given period may be distributed, in an elective distribution, among the Class A and Class B joint venture shares, with 83.333% attributable to the Class B joint venture shares and 16.667% to the Class A joint venture shares on a pro-rata basis among the holders of such joint venture shares. Based on the respective ownership percentages held by Equity One and LIH, this allocation provides for, to the extent distributions in excess of available cash are distributed to the joint venture partners in the attribution of approximately 95% of such residual amounts to Equity One and the remaining 5% to LIH.

In addition, at the closing, LIH transferred and assigned to us an outstanding promissory note of CapCo in the amount of $67.0 million in exchange for approximately 4.1 million shares of our common stock and one share of our newly-established Class A common stock, that (i) was convertible into 10,000 shares of our common stock in certain circumstances and (ii) subject to certain limitations, entitled LIH to voting rights with respect to a number of shares of our common stock determined with reference to the number of joint venture shares held by LIH from time to time. Effective June 29, 2011, the one share of Class A common stock was converted in accordance with its terms into 10,000 shares of our common stock. In March 2012, LIH sold the shares of our common stock issued in exchange for the CapCo promissory note and upon conversion of the Class A common share in an underwritten public offering.

The joint venture shares received by LIH are redeemable for cash or, solely at our option, our common stock on a one-for-one basis, subject to certain adjustments. LIH’s ability to participate in earnings of CapCo is limited to their right to receive distributions payable on their joint venture shares. These non-elective distributions are designed to mirror dividends paid on our common stock. As such, earnings attributable to the noncontrolling interest as reflected in our consolidated statement of operations will be limited to distributions made to LIH on its joint venture shares. Distributions to LIH for the years ended December 31, 2012 and 2011 were $10.0 million and $9.5 million, respectively, which were equivalent to the per share dividends declared on our common stock, adjusted for certain prorations as stipulated by the terms of the transaction.

In connection with the CapCo transaction, we also executed an Equityholders’ Agreement, among us, Capital Shopping Centers plc (“CSC”), LIH, Gazit-Globe Ltd. (“Gazit”), MGN (USA) Inc., Gazit (1995), Inc., MGN America, LLC, Silver Maple (2001), Inc. and Ficus, Inc. Pursuant to the Equityholders’ Agreement, we increased the size of our board of directors by one seat, effective January 4, 2011, and appointed David Fischel, a designee of CSC, to the board. Subject to its continuing to hold a minimum number of shares of our common stock (on a fully diluted basis), CSC has the right to nominate one candidate for election to our board of directors at each annual meeting of our stockholders at which directors are elected.

Also in connection with the CapCo transaction, we amended our charter to, among other things, (i) add foreign ownership limits and (ii) modify the existing ownership limits for individuals (as defined for purposes of certain provisions of the Code). The foreign ownership limits provide that, subject to certain exceptions, a foreign person may not acquire, beneficially or constructively, any shares of our capital stock, if immediately following the acquisition of such shares, the fair market value of the shares of our capital stock owned, directly and indirectly, by all foreign persons (other than LIH and its affiliates) would comprise 29% or more of the fair market value of the issued and outstanding shares of our capital stock.

The ownership limits for individuals in our charter were amended to provide that, subject to exceptions, no person (as such term is defined in our charter), other than an individual (who will be subject to the more restrictive limits discussed below), may own, or be deemed to own, directly and by virtue of certain constructive ownership provisions of the Code, more than 9.9% in value of the outstanding shares of our capital stock in the aggregate or more than 9.9%, in value or number of shares, whichever is more restrictive, of the outstanding shares of our common stock, and no individual may own, or be deemed to own, directly and by virtue of certain constructive ownership provisions of the Code, more than 5.0% in value of the outstanding shares of our capital stock in the aggregate or more than 5.0%, in value or number of shares, whichever is more restrictive, of the outstanding shares of our common stock.

Under our charter, the board of directors may increase the ownership limits. In addition, our board of directors, in its sole discretion, may exempt a person from the ownership limits and may establish a new limit applicable to that person if that person submits to

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the board of directors certain representations and undertakings, including representations that demonstrate, to the reasonable satisfaction of the board, that such ownership would not jeopardize our status as a REIT under the Code.

The fair value of the approximately 4.1 million shares of common stock transferred of $73.7 million was based on the closing market price of our common stock on the closing date of $18.15 per share.

We expensed approximately $7.2 million of acquisition-related costs in connection with the CapCo transaction of which $1.9 million was recorded in general and administrative expenses in the accompanying consolidated statements of operations for the year ended December 31, 2011, and approximately $5.3 million was recorded in general and administrative expenses for the year ended December 31, 2010.

As of the acquisition date, we classified three properties with fair values less costs to sell totaling approximately $36.3 million as held for sale. Results of these held for sale properties are included in “discontinued operations” on the consolidated statement of operations for the year ended December 31, 2011.

Simultaneously with the closing of the transaction, we contributed an additional $84.3 million to the joint venture in exchange for additional Class B joint venture shares, which amount was used to repay the remaining principal amount due on the mortgage loan secured by the Serramonte Shopping Center. Although the mortgage loan was paid off at closing, the liability is reflected in the fair value of net assets acquired since the obligation became ours upon closing.

The fair value of the noncontrolling interest in CapCo was estimated by reference to the amount that LIH would be entitled to receive upon a redemption of its Class A joint venture shares, which is equal to the value of the same number of shares of Equity One common stock plus any accrued but unpaid quarterly distributions with respect to the Class A joint venture shares. As a result, the fair value of the joint venture shares held by LIH was estimated at $18.15 per share, or $206.1 million in aggregate, equal to the value of Equity One common stock that LIH would have received had it redeemed its Class A joint venture shares on January 4, 2011.

The fair value of the identifiable assets acquired and liabilities assumed exceeded the sum of the fair value of the consideration transferred and the fair value of the noncontrolling interest. The fair value of the assets acquired significantly increased from the date the original purchase terms were agreed upon until the closing of the transaction on January 4, 2011. As a result, we recognized a gain of approximately $30.6 million, which is included in the line item entitled “gain on bargain purchase” in the consolidated statement of operations for the year ended December 31, 2011. The following table provides a reconciliation of the gain on bargain purchase (in thousands):

Fair value of net assets acquired	$	310,404
Fair value of consideration transferred	(73,698		)
Fair value of noncontrolling interest	(206,145		)
Gain on bargain purchase	$	30,561

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6. Property Dispositions

The following table provides a summary of disposition activity during the year ended December 31, 2012:

Date Sold	Property Name	City	State	Square Feet/Acres		Gross Sales Price
						(In thousands)
Income producing property sold
December 7, 2012	Woodruff	Greenville	SC	68,055		$	9,100
March 30, 2012	Laurel Walk Apartments	Charlotte	NC	106,480		6,000
March 30, 2012	Commerce Crossing	Commerce	GA	100,668		600
March 15, 2012	222 Sutter Street	San Francisco	CA	128,595		53,829		(1)
						69,529
Outparcels sold
February 27, 2012	Market Place - IHOP outparcel	Norcross	GA	0.35	(2)	885
January 20, 2012	Grand Marche - ground lease	Lafayette Parish	LA	200,585		775
						1,660
Total						$	71,189

^{______________________________________________} 

⁽¹⁾ Includes $27.2 million of mortgage debt repaid by the buyer at closing.

⁽²⁾ In acres.

As part of our strategy to upgrade and diversify our portfolio and recycle our existing capital, we are currently evaluating opportunities to sell 26 non-core properties, of which nine properties are under contract for an estimated gross sales price of approximately $61.0 million. Furthermore, it is likely that additional assets will be evaluated for disposition in future periods as part of our capital recycling program. Although we have not committed to a disposition plan, we may consider disposing of such properties if pricing is deemed to be favorable. If the market values of these assets are below their carrying values, it is possible that the disposition of these assets could result in impairments or other losses. Depending on the prevailing market conditions and historical carrying values, these impairments and losses could be material.

Discontinued Operations

We report as discontinued operations, properties held-for-sale and operating properties sold in the current period. The results of these discontinued operations are included in a separate component of income/loss on the consolidated statements of operations under the caption discontinued operations. This reporting has resulted in certain reclassifications of financial statement amounts.

As of December 31, 2012, we classified 12 properties located in our Southeast and North Florida regions as held for sale. The operations of these properties are included in discontinued operations in the accompanying consolidated financial statements for all the periods presented; and the related assets and liabilities are presented as held for sale in our consolidated balance sheets at December 31, 2012 and 2011. Subsequent to year end, we closed on the sale of eight of these properties for a purchase price of $81.3 million and concurrently prepaid $2.8 million in mortgage loans.

On December 20, 2011, we sold 36 shopping centers predominantly located in the Atlanta, Tampa and Orlando markets to an affiliate of Blackstone Real Estate Partners VII (“Blackstone”) for a total sales price of $473.1 million, inclusive of the assumption of mortgage loans having an aggregate principal balance of approximately $155.7 million (as adjusted for subsequent payoffs of $9.9 million) as of the date of sale. The operations of these properties and the related assets and liabilities are included in discontinued operations in the accompanying consolidated financial statements for the years ended December 31, 2011 and 2010. We recognized an aggregate impairment loss of $33.8 million related to this sale.

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The components of income and expense relating to discontinued operations for the years ended December 31, 2012, 2011 and 2010 are shown below. These include the results of operations through the date of each respective sale for properties sold during 2012, 2011 and 2010 and the operations for the applicable period for those assets classified as held for sale as of December 31, 2012:

	Year Ended December 31,
	2012			2011			2010
	(In thousands)
Rental revenue	$	11,894		$	71,656		$	67,350
Expenses:
Property operating expenses	3,521			20,222			18,237
Rental property depreciation and amortization	2,305			14,881			19,676
General and administrative expenses	13			57			55
Operations of income producing property	6,055			36,496			29,382
Interest expense	(993		)	(16,460		)	(15,188		)
Equity in income of unconsolidated joint ventures	—			704			—
Gain on disposal of income producing properties	16,588			4,407			2,257
Impairment loss on income producing properties	(6,669		)	(38,178		)	(223		)
Loss on extinguishment of debt	(1,449		)	(221		)	30
Income tax benefit	—			29,575			2,041
Other income (loss)	448			(4		)	(26		)
Income from discontinued operations	13,980			16,319			18,273
Net loss attributable to noncontrolling interests - discontinued operations	—			33			439
Income from discontinued operations attributable to Equity One, Inc.	$	13,980		$	16,352		$	18,712

During the years ended December 31, 2012, 2011 and 2010, we recognized impairment loss on discontinued operations of $6.7 million, $38.2 million and $223,000, respectively. See Note 7 for further discussion of these impairment losses.

During the year ended December 31, 2011, we recognized a tax benefit of $29.6 million primarily attributable to a reversal of a deferred tax liability associated with properties sold to an affiliate of Blackstone. The deferred tax liability was initially established upon our acquisition of DIM in 2009. See Note 16 for further discussion of the DIM tax benefit.

Interest expense included in discontinued operations above includes interest on debt that is to be assumed by the buyer or interest on debt that is required to be repaid as a result of the disposal transaction.

7. Impairment

The following table is a summary of the impairment loss recorded in the accompanying consolidated statements of operations:

	Year Ended December 31,
	2012		2011		2010
	(In thousands)
Goodwill	$	525	$	968	$	464
Land held for development	740		11,766		—
Properties held for use	21,507		6,424		—
Impairment loss recognized in continuing operations	22,772		19,158		464
Goodwill	—		1,416		223
Properties held for sale	6,669		36,762		—
Impairment loss recognized in discontinued operations	6,669		38,178		223
Total impairment loss	$	29,441	$	57,336	$	687

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Goodwill

We perform annual, or more frequent in certain circumstances, impairment tests of our goodwill. We estimate the fair value of the reporting unit using discounted projected future cash flows. If the carrying value of the reporting unit exceeds its fair value, an impairment is recorded. As a result of our analysis, we recognized $525,000, $968,000 and $464,000 of impairment losses in continuing operations for the years ended December 31, 2012, 2011 and 2010, respectively, and we recognized goodwill impairment losses in discontinued operations of $1.4 million and $223,000 for the years ended December 31, 2011 and 2010, respectively. We did not recognize any impairment losses in discontinued operations for the year ended December 31, 2012.

Land Held for Development

We measure the recoverability of development projects by comparing the carrying amount to estimated future undiscounted cash flows. Impairment is recognized when the expected undiscounted cash flows for a development project are less than its carrying amount, at which time the property is written-down to fair value. During the years ended December 31, 2012 and 2011, we recognized $740,000 and $11.8 million, respectively, of impairment losses on certain development projects for which management’s development intentions changed regarding the future status of the projects and considering the increased likelihood that management may sell the land parcels prior to development. We did not recognize any impairment losses on development projects during the year ended December 31, 2010.

Properties Held for Use

We review properties held for use for impairment on a property by property basis when events or changes in circumstances indicate that the carrying value may not be recoverable in accordance with the Property, Plant, and Equipment Topic of the FASB ASC. Impairment is recognized on properties held for use when the expected undiscounted cash flows for a property are less than its carrying amount, at which time the property is written-down to fair value. During the years ended December 31, 2012 and 2011, we recognized $21.5 million and $6.4 million, respectively, of impairment losses on certain properties located in secondary markets for which our anticipated holding periods have been reconsidered. The analysis in 2012 and 2011 included an assessment of the plans for each property. Based on this analysis, it was determined that there is an the increased likelihood that holding periods for certain properties may be shorter than previously estimated due to management’s updated disposition plans. The expected cash flows considered the estimated holding period of the assets and the exit price in the event of disposition. We did not recognize an impairment loss on properties held for use during the year ended December 31, 2010.

Properties Held for Sale

Properties held for sale are recorded at the lower of the carrying amount or the expected sales price less costs to sell. The sale or disposal of a “component of an entity” is treated as discontinued operations. The operating properties sold by us typically meet the definition of a component of an entity and as such the revenue and expenses associated with sold properties are reclassified to discontinued operations for all periods presented. During the years ended December 31, 2012 and 2011, we recognized impairment losses of $6.7 million and $36.8 million, respectively, related to properties held for sale primarily based on sales contracts. We did not recognize an impairment loss on properties held for sale during the year ended December 31, 2010.

8. Accounts and Other Receivables

The following table is a summary of the composition of accounts and other receivables in the consolidated balance sheets:

	December 31,
	2012			2011
	(In thousands)
Tenants	$	14,354		$	18,110
Other	3,148			4,945
Allowance for doubtful accounts	(3,182		)	(5,265		)
Total accounts and other receivables, net	$	14,320		$	17,790

For the years ended December 31, 2012, 2011 and 2010, we recognized bad debt expense of $1.1 million, $2.1 million and $1.6 million, respectively, which is included in property operating expenses in the accompanying consolidated statements of operations.

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9. Investments in Joint Ventures

As of December 31, 2012, our investments in and advances to unconsolidated joint ventures was composed of the following:

				Investment Balance at December 31,
Joint Venture (1)	Number of Properties	Location	Ownership	2012		2011
				(In thousands)
Investments in unconsolidated joint ventures:
GRI-EQY I, LLC (2)	10	GA, SC, FL	10.0%	$	8,587	$	7,705
G&I Investment South Florida Portfolio, LLC	3	FL	20.0%	3,491		3,215
Madison 2260 Realty LLC	1	NY	8.6%	634		1,066
Madison 1235 Realty LLC	1	NY	20.1%	1,000		1,000
Talega Village Center JV, LLC (3)	1	CA	50.5%	2,909		3,620
Vernola Marketplace JV, LLC (3)	1	CA	50.5%	6,972		7,433
Parnassus Heights Medical Center	1	CA	50.0%	20,385		13,695
Equity One JV Portfolio, LLC (4)	4	FL, MA	30.0%	27,589		11,393
Total				71,567		49,127
Advances to unconsolidated joint ventures				604		1,031
Investments in and advances to unconsolidated joint ventures				$	72,171	$	50,158

^{______________________________________________} 

⁽¹⁾ With the exception of the Madison 2260 Realty LLC and Madison 1235 Realty LLC joint ventures, which are accounted for under the cost method, all unconsolidated joint ventures are accounted for under the equity method.

⁽²⁾ The investment balance as of December 31, 2012 and December 31, 2011 is presented net of deferred gains of $3.3 million for both periods associated with the disposition of assets by us to the joint venture.

⁽³⁾ Our effective interest is 48% when considering the 5% noncontrolling interest held by Vestar Development Company.

⁽⁴⁾ The investment balance as of December 31, 2012 and December 31, 2011 is presented net of a deferred gain of approximately $404,000 for both periods associated with the disposition of assets by us to the joint venture.

Equity in income (losses) of unconsolidated joint ventures totaled $542,000, $4.8 million and $(116,000) for the years ended December 31, 2012, 2011 and 2010, respectively. Management fees and leasing fees paid to us associated with these joint ventures, which are included in management and leasing services revenue in the accompanying consolidated statements of operations, totaled approximately $2.4 million, $1.8 million and $1.3 million for the years ended December 31, 2012, 2011 and 2010, respectively.

At December 31, 2012 and 2011, the aggregate carrying amount of our unconsolidated joint venture debt was $292.0 million and $249.9 million, respectively, of which our aggregate proportionate share was $65.3 million and $54.5 million, respectively. During the year ended December 31, 2012, we made investments of $7.5 million in two of our unconsolidated joint ventures in connection with repayments of indebtedness by those joint ventures totaling $21.1 million. Although we have not guaranteed the debt of these joint ventures, we have agreed to customary environmental indemnifications and nonrecourse carve-outs (e.g., guarantees against fraud, misrepresentation and bankruptcy) on certain of the loans of the joint ventures.

Equity One/Vestar Joint Ventures

In December 2010, we acquired ownership interests in three properties through joint ventures. Two of the properties are located in California and were acquired through partnerships (the “Equity One/Vestar JVs”) with Vestar Development Company (“Vestar”). In both of these joint ventures, we hold a 95% interest, and they are consolidated. Each Equity One/Vestar JV holds a 50.5% ownership interest in each of the California properties through two separate joint ventures with Rockwood Capital (the “Rockwood JVs”). The Equity One/Vestar JVs’ ownership interests in the properties are accounted for under the equity method. Included in our original investment were two bridge loans with an aggregate balance of $35.0 million, secured by the properties, made by the Equity One/Vestar JVs to the Rockwood JVs as short-term financing until longer-term mortgage financing was obtained. During the third quarter of 2011, the bridge loans and related accrued interest were repaid to us in full with proceeds from new mortgages obtained by the joint ventures.

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Upon formation, the Rockwood JVs were considered VIEs for which the Equity One/Vestar JVs, which we control, were not the primary beneficiaries due to shared control and lack of financial interest. Since the bridge loans were repaid to us during 2011 and the Rockwood JVs were able to secure long term mortgage financing from a third party lender, the Rockwood JVs are no longer considered VIEs.

CapCo Joint Ventures

In connection with the CapCo acquisition on January 4, 2011, we acquired ownership interests in three properties located in California through joint ventures, tenants-in-common or other shared ownership. The joint ventures included Pacific Financial Center, Parnassus Heights Medical Center and Trio Apartments. The aggregate fair value of these joint ventures as of January 4, 2011 was $47.4 million. Our ownership interests in these properties are/were accounted for under the equity method.

In September 2011, the property held by the Pacific Financial Center joint venture was sold. Our proportionate share of the gain, $4.3 million, is included in equity in income (loss) of unconsolidated joint ventures in the consolidated statement of operations for the year ended December 31, 2011.

In September 2011, the property held by the Trio Apartments joint venture was sold. Immediately preceding the sale of the property to a third party, we purchased our partner’s interest in the joint venture and consolidated the entity prior to the sale of the asset. As a result of the consolidation and corresponding remeasurement of our investment balance, a gain on sale of $3.2 million and our pro-rata share of the income of the joint venture of $704,000 for the year ended December 31, 2011 is included in discontinued operations in the consolidated statement of operations.

In addition, in connection with our acquisition of CapCo, we acquired a special purpose entity which held a 58% controlling interest in the Senator office building located in Sacramento, California. At the time of our acquisition, the special purpose entity and the other co-owners in the Senator building were in default of a $38.3 million non-recourse loan secured by the property. As a result of the continuing default, the lender and special servicer accelerated the loan and foreclosed on the property on September 20, 2011. It was our intention when we acquired our interest in the property to relinquish title. Accordingly, at the time of acquisition, we assigned no value to our interest in this special purpose entity.

New York Common Retirement Fund Joint Venture

In May 2011, we sold two operating properties, Country Walk Plaza in Miami, Florida and Veranda Shoppes in Plantation, Florida to Equity One JV Portfolio, LLC, a then-newly formed joint venture between us and the New York State Common Retirement Fund (“NYCRF”). NYCRF holds a 70% interest in the joint venture and we own a 30% interest. We perform the day to day accounting and property management functions for the joint venture and, as such, earn a management fee for the services provided. Our ownership interest in this joint venture is accounted for under the equity method. In December 2011, the joint venture purchased an operating property located in Framingham, Massachusetts, for an aggregate purchase price of $23.2 million, which included the assumption of $10.4 million of mortgage debt.

On January 26, 2012, the joint venture made an $18.5 million mortgage loan (the “JV Loan”) secured by a newly developed shopping center. In addition to the JV Loan, we provided a mezzanine loan ("the Mezzanine Loan") indirectly secured by the shopping center in the amount of $19.3 million. The joint venture had an option to purchase the shopping center that was exercisable during certain periods prior to March 26, 2013, and the borrower had a put option to sell the shopping center to the joint venture that was exercisable during certain different periods prior to October 26, 2013. During the fourth quarter of 2012, the joint venture exercised its purchase option and ultimately acquired the shopping center in December 2012 at a purchase price of $128.4 million. Concurrent with the closing of the transaction, the Mezzanine Loan of $19.3 million was repaid without penalty, and the JV Loan was converted by the joint venture into a direct ownership interest in the shopping center. As of December 31, 2012, the joint venture continues to hold an option to purchase an additional 62,523 square foot phase of the shopping center in 2013 for approximately $16.0 million. During the period that the JV Loan and Mezzanine Loan were outstanding, we determined that the entities holding direct and indirect ownership interests in the shopping center were VIEs, and, in relation to the VIE in which we held a variable interest, we were not the primary beneficiary as we did not have the power to direct the activities that most significantly impacted the entity's economic performance. However, as the Mezzanine Loan was repaid during December 2012, we determined that we were no longer required to assess the applicable VIE for potential consolidation as we no longer held a variable interest in the entity.

10. Variable Interest Entities

Included within our consolidated operating properties at December 31, 2012 are two consolidated joint venture properties, Danbury Green and Southbury Green, and one property owned by a qualified intermediary, Clocktower Plaza Shopping Center, that are held through VIEs and for which we are the primary beneficiary. These entities have been established to own and operate real estate property. Our involvement with these entities is through our majority ownership of the properties. These entities were deemed

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VIEs primarily because they may not have sufficient equity at risk for them to finance their activities without additional subordinated financial support from other parties. Specifically, with respect to the VIEs holding the Danbury Green and Southbury Green properties, we determined that the interests held by the other equity investors were not equity investments at risk pursuant to the Consolidation Topic of the FASB ASC and also gave consideration to the maturity of certain debt obligations of the entities. Additionally, as it relates to the VIE holding Clocktower Plaza Shopping Center, we also determined that the equity investors, whose investment was not sufficient for the entity to finance its activities, do not have the characteristics of a controlling financial interest. We determined that we are the primary beneficiary of these VIEs as a result of our having the power to direct the activities that most significantly impact their economic performance and the obligation to absorb losses, as well as the right to receive benefits, that could be potentially significant to the VIEs.

At December 31, 2012 and 2011, the total assets of the VIEs that own Danbury Green and Southbury Green were approximately $111.1 million and $109.2 million, respectively. These assets can only be used to settle obligations of the VIEs. At December 31, 2012 and 2011, the liabilities of the VIEs that own Danbury Green and Southbury Green of $63.0 million and $61.9 million, respectively, include third party liabilities for which the creditors or beneficial interest holders do not have recourse against us other than for customary environmental indemnifications and non-recourse carve-outs. The classification of these assets is primarily within real estate and the classification of liabilities is primarily within mortgages payable and redeemable and nonredeemable noncontrolling interests in the consolidated balance sheets as further discussed in Note 17.

Included within our consolidated operating properties at December 31, 2011, in addition to Danbury Green and Southbury Green, was one consolidated property, 90-30 Metropolitan Avenue, which was held at the time by a qualified intermediary. Legal ownership of 90-30 Metropolitan Avenue was transferred to us by the qualified intermediary during the first quarter of 2012, and as such, it is no longer considered a VIE.

At December 31, 2012 and 2011, the total assets of these VIEs were approximately $167.4 million and $138.2 million, respectively, and the total liabilities were approximately $63.5 million and $62.4 million, respectively, including non-recourse mortgage debt of $45.7 million at both December 31, 2012 and 2011.

The majority of the operations of these VIEs are funded with cash flows generated from the properties. We have not provided financial support to any of these VIEs that we were not previously contractually required to provide; our contractual commitments consist primarily of funding any capital expenditures, including tenant improvements, which are deemed necessary to continue to operate the entity and any operating cash shortfalls that the entity may experience.

11. Loans Receivable

On July 5, 2011, we invested in a $45.0 million junior mezzanine loan indirectly secured by a portfolio of seven California shopping centers which had an aggregate appraised value of approximately $272.0 million at the time we acquired the mezzanine loan. This mezzanine loan is subordinated in right of payment to a $120.0 million loan and a $60.0 million senior mezzanine loan, matures on July 9, 2013 subject to the borrower’s ability to extend the maturity date for three additional one-year periods, and bears interest at 8.46% per annum plus one month LIBOR (subject to a 0.75% per annum LIBOR floor). At December 31, 2012, the mezzanine loan bore interest of 9.21%. We capitalized $108,000 in net fees paid relating to the acquisition of this loan and are amortizing these amounts against interest income over the initial two-year term. As of December 31, 2012, the loan was performing, and the carrying amount of the loan was $45.2 million. This carrying amount also reflects our maximum exposure to loss related to this investment. At inception, and as of December 31, 2012, we had and continue to have the ability and intention to hold this mezzanine loan to maturity.

In October 2012, we purchased a $95.0 million mortgage loan secured by the Westwood Complex, a 22-acre site located in Bethesda, Maryland that consists of 214,767 square feet of retail space, a 211,020 square foot apartment building, and a 62-unit assisted living facility. The loan bears interest at 5.0% per annum and has a stated maturity date of January 15, 2014. Concurrent with the loan transaction, we also entered into a purchase contract to acquire the complex for an aggregate purchase price of approximately $140.0 million. The purchase contract contemplates a closing date that is the earlier of January 15, 2014 or upon the seller's identification of a property (or properties) which it can purchase with the proceeds from the sale of the complex. The closing date may also be deferred for up to one year beyond January 15, 2014 depending on the outcome of certain litigation brought against the seller of the complex as described in further detail in Note 22. To the extent that the closing date under the purchase contract occurs prior to or subsequent to January 15, 2014, the parties have also agreed to adjust the maturity date of the mortgage loan to coincide with the closing date. Based on our assessment of the structure of the transaction, we have determined that the entities that own the various parcels comprising the Westwood Complex are VIEs and that we hold variable interests in these entities through the purchase contract and our investment in the mortgage loan; however, we concluded that we are not the primary beneficiary of these entities as we do not have the power to direct the activities that most significantly impact their economic performance. Upon the purchase of the loan and as of December 31, 2012, we had and continue to have the ability to

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hold the loan to maturity. Although the seller may initiate the sale transaction under the purchase contract and accelerate the maturity date of the mortgage loan, we do not intend to sell the mortgage loan, and we believe that we will recover our cost basis in the loan to the extent that the maturity date is accelerated. Accordingly, we have classified our investment in the loan as held to maturity. As of December 31, 2012, the loan was performing, and the carrying amount of the loan was $95.5 million, which also reflects our current maximum exposure to loss related to this investment.

12. Goodwill

The following table provides a summary of goodwill activity in the consolidated balance sheets:

	December 31,
	2012			2011
	(In thousands)
Balance at beginning of period	$	7,957		$	8,925
Impairment	(525		)	(968		)
Allocated to property sale	(6		)	—
Balance at end of period	$	7,426		$	7,957

The following table presents goodwill by segment for the years ended December 31, 2012 and 2011:

	December 31,
	2012		2011
	(In thousands)
South Florida	$	2,028	$	2,028
North Florida	1,546		1,546
Southeast	3,852		4,383
Total	$	7,426	$	7,957

13. Other Assets

The following is a summary of the composition of the other assets in the consolidated balance sheets:

	December 31,
	2012		2011
	(In thousands)
Lease intangible assets, net	$	130,681	$	92,533
Leasing commissions, net	36,443		28,260
Prepaid expenses and other receivables	24,393		2,176
Straight-line rent receivable, net	20,937		17,101
Deferred financing costs, net	10,777		8,653
Deposits and mortgage escrow	5,231		34,554
Deferred tax asset	2,968		3,229
Furniture and fixtures, net	2,519		2,234
Total other assets	$	233,949	$	188,740

In connection with our development of The Gallery at Westbury Plaza in Nassau County, New York, we remediated various environmental matters that existed when we acquired the property in November 2009. The site was eligible for participation in New York State's Brownfield Cleanup Program, which provides for refundable New York State franchise tax credits for costs incurred to remediate and develop a qualified site. We applied for participation in the program and subsequently received a certificate of completion from the New York State Department of Environmental Conservation in August 2012. The certificate of completion confirmed our adherence to the cleanup requirements and ability to seek reimbursement for a portion of qualified costs incurred as part of the environmental remediation and development of the property. Accordingly, we have recognized a $21.0 million receivable for the reimbursable costs that will be paid to us subject to statutory deferrals over the next four years, which is included

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in prepaid expenses and other receivables on our consolidated balance sheet at December 31, 2012 with a corresponding reduction to the cost of the project included in construction in progress.

The following is a summary of the composition of our intangible assets and accumulated amortization in the consolidated balance sheets:

	December 31,
	2012		2011
	(In thousands)
Lease intangible assets:
Above-market leases	$	25,331	$	19,592
In-place lease interests	124,356		107,696
Ground lease (1)	34,094		—
Lease origination costs	4,008		4,185
Lease incentives	5,050		4,333
Total intangibles	192,839		135,806
Accumulated amortization:
Above-market leases	9,476		6,429
In-place lease interests	48,258		33,295
Ground lease (1)	191		—
Lease origination costs	2,646		2,486
Lease incentives	1,587		1,063
Total accumulated amortization	62,158		43,273
Lease intangible assets, net	$	130,681	$	92,533

^{___________________________________________} 

⁽¹⁾ Ground lease primarily related to the Darinor Plaza acquisition in 2012. Ground lease expires in 2076.

Included in the consolidated statement of operations for the years ended December 31, 2012, 2011 and 2010 is $10.8 million, $20.6 million and $10.0 million, respectively, of net amortization expense related to lease intangible assets and lease intangible liabilities. The amortization for the next five years for the recorded intangible assets is approximately $18.6 million, $14.6 million, $11.8 million, $9.1 million and $7.2 million, respectively.

14. Borrowings

Mortgage Notes Payable

The following table is a summary of our mortgage notes payable balances in the consolidated balance sheets:

	December 31,
	2012			2011
	(In thousands)
Mortgage Notes Payable
Fixed rate mortgage loans	$	439,156		$	459,677
Unamortized premium, net	9,064			10,236
Total	$	448,220		$	469,913
Weighted-average interest rate of fixed rate mortgage notes	6.09		%	6.16		%

Included in liabilities associated with assets held for sale are mortgage notes payable of $2.8 million and $39.4 million at December 31, 2012 and 2011, respectively, with weighted average interest rates of 6.85% and 5.91%, respectively.

During the years ended December 31, 2012 and 2011, we prepaid $57.0 million and $146.8 million (excluding the Serramonte mortgage that was repaid at the closing of the CapCo transaction) in mortgage loans with a weighted-average interest rate of 6.61% and 6.33%, respectively.

In connection with acquisitions completed during the year ended December 31, 2012, we assumed two mortgages with a total principal balance of $35.5 million. The $16.7 million mortgage assumed in connection with the 1225-1239 Second Avenue

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acquisition matures on June 1, 2016 and bears interest at 6.33%. The $18.8 million mortgage assumed in connection with the Darinor Plaza acquisition matures on May 1, 2015 and bears interest at 5.37%.

During the year ended December 31, 2011, in connection with our acquisition of CapCo, we assumed mortgage indebtedness of $172.0 million with a weighted average interest rate of 6.18% and maturity dates through November 15, 2019, excluding the mortgage loan on Serramonte which was repaid at acquisition. Additionally, in connection with our other acquisitions during 2011, we assumed mortgages with a total principal balance of approximately $121.2 million related to our acquisitions of Vons Circle Center, Culver Center, Danbury Green and Southbury Green. These mortgages mature between February 5, 2015 and October 10, 2028 with payments based on 25-year to 30-year amortization schedules at fixed interest rates between 5.20% and 5.85%.

Unsecured Senior Notes

Our outstanding unsecured senior notes payable in the consolidated balance sheets consisted of the following:

	December 31,
	2012			2011
	(In thousands)
Unsecured Senior Notes Payable
7.84% Senior Notes, due 1/23/12	$	—		$	10,000
6.25% Senior Notes, due 12/15/14	—			250,000
5.375% Senior Notes, due 10/15/15	107,505			107,505
6.0% Senior Notes, due 9/15/16	105,230			105,230
6.25% Senior Notes, due 1/15/17	101,403			101,403
6.0% Senior Notes, due 9/15/17	116,998			116,998
3.75% Senior Notes, due 11/15/22	300,000			—
Total Unsecured Senior Notes	731,136			691,136
Unamortized discount, net	(2,006		)	(2,340		)
Total	$	729,130		$	688,796
Weighted-average interest rate, net of discount adjustment	5.02		%	6.06		%

On October 25, 2012, we issued $300 million principal amount of unsecured senior notes at a fixed interest rate of 3.75%, maturing on November 15, 2022 (the "3.75% Notes"). The 3.75% Notes were offered to investors at a price of 99.591% with a yield to maturity of 3.799%. Interest is payable on the notes semi-annually in arrears on May 15 and November 15 of each year, commencing on May 15, 2013. The 3.75% Notes rank equally with all of our other unsecured and unsubordinated indebtedness and contain customary debt covenants that are consistent with our other unsecured senior notes. The 3.75% Notes are also guaranteed by our subsidiaries that have guaranteed our other unsecured senior notes.

On October 25, 2012, we also called for redemption of all of our $250 million6.25% unsecured senior notes which were scheduled to mature on December 15, 2014 (the "6.25% Notes") pursuant to the terms of an optional redemption feature within the 6.25% Notes, and, on November 26, 2012, we redeemed the 6.25% Notes at a redemption price equal to the principal amount of the notes and a required make-whole premium of $27.8 million utilizing proceeds from the 3.75% Notes. In connection with the redemption, we recognized a loss on early extinguishment of debt of $29.6 million, which was comprised of the aforementioned make-whole premium and deferred fees and costs associated with the 6.25% Notes.

On January 23, 2012, we repaid the $10.0 million principal amount of 7.84% unsecured senior notes.

The indentures under which our unsecured senior notes were issued have several covenants that limit our ability to incur debt, require us to maintain an unencumbered asset to unencumbered debt ratio above a specified level and limit our ability to consolidate, sell, lease, or convey substantially all of our assets to, or merge with, any other entity. These notes have also been guaranteed by many of our subsidiaries.

Unsecured Revolving Credit Facilities

Our primary credit facility is with a syndicate of banks and provides $575.0 million of unsecured revolving credit. The facility bears interest at applicable LIBOR plus a margin of 1.00% to 1.85%, depending on the credit ratings of our unsecured senior notes. The facility also includes a facility fee applicable to the aggregate lending commitments thereunder which varies from 0.175% to 0.45% per annum depending on the credit ratings of our unsecured senior notes. At December 31, 2012, the interest rate margin applicable to amounts outstanding under the facility was 1.55% per annum and the facility fee was 0.30% per annum. The facility

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includes a competitive bid option which allows us to conduct auctions among the participating banks for borrowings at any one time outstanding up to 50% of the lender commitments, a $50.0 million swing line facility for short term borrowings, a $50.0 million letter of credit commitment and a $61.3 million multicurrency subfacility. The facility expires on September 30, 2015, with a one year extension at our option. The facility contains a number of customary restrictions on our business, including restrictions on our ability to make certain investments, and also includes various financial covenants, including a minimum tangible net worth requirement, maximum unencumbered and total leverage ratios, a maximum secured indebtedness ratio, a minimum fixed charge coverage ratio and a minimum unencumbered interest coverage ratio. The facility also contains customary affirmative covenants and events of default, including a cross default to our other material indebtedness and the occurrence of a change of control. If a material default under the facility were to arise, our ability to pay dividends is limited to the amount necessary to maintain our status as a REIT unless the default is a payment default or bankruptcy event in which case we are prohibited from paying any dividends. As of December 31, 2012, we had drawn approximately $172.0 million against the facility, which bore interest at 1.77% per annum. As of December 31, 2011, we had drawn $138.0 million against the facility, which bore interest at 1.85% per annum. As a result of Moody's upgrade of our credit rating in December 2012, effective January 1, 2013, the interest rate margin applicable to amounts outstanding under the facility is 1.25% per annum and the facility fee is 0.25% per annum.

We also have a $15.0 million unsecured credit facility with City National Bank of Florida, for which there was no outstanding balance as of December 31, 2012 and 2011. The facility bears interest at LIBOR plus 1.55% per annum and expires August 7, 2013.

As of December 31, 2012, giving effect to the financial covenants applicable to these credit facilities, the maximum available to us thereunder was approximately $496.8 million, net of outstanding letters of credit.

Term Loan and Interest Rate Swaps

On February 13, 2012, we entered into an unsecured term loan in the principal amount of $200.0 million with a maturity date of February 13, 2019. On July 12, 2012, we increased the principal amount of the term loan to $250.0 million through the exercise of an accordion feature. The term loan bears interest, at our option, at the base rate or one month, two month, three month or six month LIBOR, in each case plus a margin of 1.50% to 2.35% depending on the credit ratings of our unsecured senior notes, which margin was 1.90% at December 31, 2012. The loan agreement also calls for other customary fees and charges. The loan agreement contains customary restrictions on our business, financial and affirmative covenants, events of default and remedies which are generally the same as those provided in our $575.0 million unsecured revolving credit facility. We entered into interest rate swaps to convert the LIBOR rate applicable to the term loan to a fixed interest rate, providing an effective fixed interest rate under the loan agreement of 3.46% per annum for the initial $200.0 million loan and 3.00% for the additional $50.0 million loan as of December 31, 2012. The swaps are designated and qualified as cash flow hedges and have been recorded at fair value. The swap agreements mature on February 13, 2019. The fair value of our interest rate swaps at December 31, 2012 was a liability of $7.0 million and is included in accounts payable and accrued expenses on our consolidated balance sheet at such date. As a result of Moody's upgrade of our credit rating in December 2012, effective January 1, 2013, the effective fixed interest rate for the initial $200.0 million loan became 3.26% per annum and the effective fixed interest rate for the additional $50.0 million loan became 2.80% per annum.

Principal maturities of the notes payable are as follows:

Year Ending December 31,	Amount
	(In thousands)
2013	$	38,013
2014	14,184
2015	341,539
2016	233,353
2017	288,981
Thereafter	676,222
Total	$	1,592,292

Interest costs incurred, excluding amortization and accretion of discount and premium, were $80.5 million, $86.6 million and $77.3 million in the years ended December 31, 2012, 2011 and 2010, respectively, of which $4.7 million, $2.3 million and $2.2 million, respectively, were capitalized.

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15. Other Liabilities

The following is a summary of the composition of other liabilities in the consolidated balance sheets:

	December 31,
	2012		2011
	(in thousands)
Lease intangible liabilities, net	$	185,494	$	156,495
Prepaid rent	10,949		6,834
Other	215		811
Total other liabilities	$	196,658	$	164,140

At December 31, 2012 and 2011, the gross carrying amount of our lease intangible liabilities was $232.5 million and $187.5 million, respectively, and the accumulated amortization was $47.0 million and $31.0 million, respectively. Our intangible liabilities are solely composed of below-market rent adjustments. The accretion for the next five years for the recorded intangible liabilities is approximately, $16.4 million, $15.2 million, $13.9 million, $11.2 million and $9.9 million, respectively.

16. Income Taxes

We elected to be taxed as a REIT under the Code, commencing with our taxable year ended December 31, 1995. To qualify as a REIT, we must meet a number of organizational and operational requirements, including a requirement that we currently distribute at least 90% of our REIT taxable income to our stockholders. The difference between net income available to common stockholders for financial reporting purposes and taxable income before dividend deductions relates primarily to temporary differences, such as real estate depreciation and amortization, deduction of deferred compensation and deferral of gains on sold properties utilizing like kind exchanges. Also, at least 95% of our gross income in any year must be derived from qualifying sources. It is our intention to adhere to the organizational and operational requirements to maintain our REIT status. As a REIT, we generally will not be subject to corporate level federal income tax, provided that distributions to our stockholders equal at least the amount of our REIT taxable income as defined under the Code. We distributed sufficient taxable income for the year ended December 31, 2012; therefore, we anticipate that no federal income or excise taxes will be incurred. We distributed sufficient taxable income for the years ended December 31, 2011 and 2010; therefore, no federal income or excise taxes were incurred. If we fail to qualify as a REIT in any taxable year, we will be subject to federal income taxes at regular corporate rates (including any applicable alternative minimum tax) and may not be able to qualify as a REIT for four subsequent taxable years. Even if we qualify for taxation as a REIT, we may be subject to state income or franchise taxes in certain states in which some of our properties are located and excise taxes on our undistributed taxable income. We are required to pay U.S. federal and state income taxes on our net taxable income, if any, from the activities conducted by our taxable REIT subsidiaries (“TRSs”). Accordingly, the only provision for federal income taxes in our consolidated financial statements relates to our consolidated TRSs.

Further, we believe that we have appropriate support for the tax positions taken on our tax returns and that our accruals for tax liabilities are adequate for all years still subject to tax audit after 2008 as all years prior to 2008 are closed.

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The following table reconciles GAAP net income to taxable income:

	Year Ended December 31,
	2012			2011			2010
	(Estimated)			(Actual)			(Actual)
	(In thousands)
GAAP net (loss) income attributable to Equity One	$	(3,477	)	$	33,621		$	25,112
Net loss attributable to taxable REIT subsidiaries	4,964			63,319			7,842
GAAP net income from REIT operations	1,487			96,940			32,954
Book/tax differences:
Joint ventures	4,964			(2,671		)	(1,929		)
Depreciation	7,135			6,952			3,236
Sale of property	(925		)	(44,819		)	(1,386		)
Bargain purchase gain	—			(30,561		)	—
Exercise of stock options and restricted shares	6,390			4,506			4,928
Interest expense	3,152			1,002			(180		)
Deferred/prepaid/above and below-market rents, net	(2,388		)	(1,711		)	318
Impairment loss	21,511			14,866			525
Amortization	144			(84		)	842
Acquisition costs	1,941			5,982			7,057
Other, net	(1,458		)	53			26
Inclusion from foreign taxable REIT subsidiary	—			10,502			—
Adjusted taxable income(1)	$	41,953		$	60,957		$	46,391

^{______________________________________________} 

⁽¹⁾  Adjusted taxable income subject to 90% dividend requirements.

The following summarizes the tax status of dividends paid:

	Year Ended December 31,
	2012			2011			2010
Dividend paid per share	$	0.88		$	0.88		$	0.88
Ordinary income	43.72		%	51.80		%	50.74		%
Return of capital	54.10		%	39.13		%	47.08		%
Capital gains	2.18		%	9.07		%	2.18		%

Taxable REIT Subsidiaries (“TRS”)

We are subject to federal, state and local income taxes on the income from our TRS activities, which include IRT Capital Corporation II (“IRT”), Southeast US Holdings, BV (“Southeast”), DIM, MCC Redondo Beach II, LLC and C&C Delaware, Inc. At December 31, 2012, Southeast owned an economic interest in DIM of 97.8%. Although DIM is organized under the laws of the Netherlands, it pays U.S. corporate income tax based on its operations in the United States. Pursuant to the tax treaty between the U.S. and the Netherlands, DIM is entitled to the avoidance of double taxation on its U.S. income. Thus, it pays virtually no income taxes in the Netherlands.

Income taxes have been provided for on the asset and liability method as required by the Income Taxes Topic of the FASB ASC. Under the asset and liability method, deferred income taxes are recognized for the temporary differences between the financial reporting bases and the tax bases of the TRS assets and liabilities. A deferred tax asset valuation allowance is recorded when it has been determined that it is more-likely-than-not that the deferred tax asset will not be realized. If a valuation allowance is needed, a subsequent change in circumstances in future periods that causes a change in judgment about the realization of the related deferred tax amount could result in the reversal of the deferred tax valuation allowance.

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Our total pre-tax losses and income tax benefits relating to our TRS and taxable entities which have been consolidated for accounting reporting purposes are summarized as follows:

	Year Ended December 31,
	2012			2011			2010
	(In thousands)
U.S. loss before income taxes	$	(7,452	)	$	(97,219	)	$	(9,265	)
Foreign loss before income taxes	(15		)	(739		)	(2,342		)
Total loss before income taxes	(7,467		)	(97,958		)	(11,607		)
Less income tax benefit (provision):
Current federal and state	72			(405		)	430
Deferred federal and state	2,431			35,044			3,335
Total income tax benefit	2,503			34,639			3,765
Net loss from taxable REIT subsidiaries	$	(4,964	)	$	(63,319	)	$	(7,842	)

Our total pre-tax losses for continuing operations and income tax benefits for continuing operations included above relating to our TRS and taxable entities which have been consolidated for accounting reporting purposes are summarized as follows:

	Year Ended December 31,
	2012			2011			2010
	(In thousands)
U.S. (loss) income before income taxes	$	(7,452	)	$	11,794		$	8,765
Foreign loss before income taxes	(15		)	(739		)	(2,342		)
Total (loss) income before income taxes	(7,467		)	11,055			6,423
Less income tax benefit (provision):
Current federal and state	72			(97		)	430
Deferred federal and state	2,431			5,161			1,294
Total income tax benefit	2,503			5,064			1,724
Net (loss) income from taxable REIT subsidiaries	$	(4,964	)	$	16,119		$	8,147

We recorded an income tax benefit from discontinued operations of $29.6 million and $2.0 million during the years ended December 31, 2011 and 2010, respectively. There was no income tax benefit from discontinued operations during the year ended December 31, 2012. The tax benefits recorded related to discontinued operations are primarily attributable to the reversal of a deferred tax liability associated with properties held for sale by DIM and IRT and, to a lesser extent, by net operating losses.

The total income tax benefit differs from the amount computed by applying the statutory federal income tax rate to net (loss)/income before income taxes as follows:

	Year Ended December 31,
	2012			2011			2010
	(In thousands)
Federal benefit at statutory tax rate (1)	$	2,616		$	34,205		$	4,040
State taxes, net of federal benefit	272			3,187			406
Adjustment to DIM gain	—			(3,315		)	—
Foreign tax rate differential	(7		)	(2		)	(48		)
Other	(370		)	574			(622		)
Valuation allowance increase	(8		)	(10		)	(11		)
Total income tax benefit	$	2,503		$	34,639		$	3,765

^{______________________________________________} 

⁽¹⁾  Rate of 34% or 35% used, dependent on the projected taxable income levels of our TRSs.

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The income tax benefit for continuing operations differs from the amount computed by applying the statutory federal income tax rate to net (loss)/income before income taxes as follows:

	Year Ended December 31,
	2012			2011			2010
	(In thousands)
Federal benefit at statutory tax rate (1)	$	2,616		$	3,869		$	2,248
State taxes, net of federal benefit	272			442			257
Foreign tax rate differential	(7		)	(2		)	(48		)
Other	(370		)	765			(722		)
Valuation allowance increase	(8		)	(10		)	(11		)
Total income tax benefit	$	2,503		$	5,064		$	1,724

^{______________________________________________} 

⁽¹⁾ Rate of 35% used.

Our deferred tax assets and liabilities were as follows:

	December 31
	2012			2011
	(In thousands)
Deferred tax assets:
Disallowed interest	$	2,903		$	3,034
Net operating loss	3,216			3,473
Other	138			212
Valuation allowance	(213		)	(205		)
Total deferred tax assets	6,044			6,514
Deferred tax liabilities:
Other real estate investments	(13,828		)	(16,532		)
Mortgage revaluation	(1,005		)	(1,233		)
Other	(259		)	(229		)
Total deferred tax liabilities	(15,092		)	(17,994		)
Net deferred tax liability	$	(9,048	)	$	(11,480	)

At December 31, 2012, the net deferred tax liability of $9.0 million consisted of a $3.0 million deferred tax asset associated with IRT included in other assets in the accompanying consolidated balance sheet and a $12.0 million deferred tax liability associated with DIM. At December 31, 2011 the net deferred tax liability of $11.5 million consisted of a $3.2 million deferred tax asset associated with IRT included in other assets in the accompanying consolidated balance sheet and a $14.7 million deferred tax liability associated with DIM.

The tax deduction for interest paid by the TRS to the REIT is subject to certain limitations pursuant to U.S. federal tax law. Such interest may only be deducted in any tax year in which the TRS’ income exceeds certain thresholds. Such disallowed interest may be carried forward and utilized in future years, subject to the same limitation. At December 31, 2012, IRT had approximately $7.7 million of disallowed interest carry forwards, with a tax value of $2.9 million. This carry forward does not expire. IRT expects to realize the benefits of its net deferred tax assets of approximately $3.0 million as of December 31, 2012, primarily from identified tax planning strategies, as well as projected taxable income. Southeast had a net operating loss carry forward of $834,000 at December 31, 2012, which begins to expire in 2016. A valuation allowance of $213,000 is provided for this asset. As of December 31, 2012, DIM had federal and state net operating loss carry forwards of approximately $5.9 million and $5.0 million, respectively, which begin to expire in 2027. As of December 31, 2012, IRT had federal and state net operating loss carry forwards of approximately $1.3 million and $1.7 million, respectively, which begin to expire in 2030.

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17. Noncontrolling Interests

The following table summarizes our noncontrolling interests as of December 31, 2012 and 2011:

	December 31,
	2012		2011
	(In thousands)
Danbury 6 Associates LLC (1)	$	7,720	$	7,720
Southbury 84 Associates LLC (2)	11,242		11,242
Vestar/EQY Canyon Trails LLC (3)	2,600		2,853
Walden Woods Village, Ltd. (4)	989		989
Total redeemable noncontrolling interests	$	22,551	$	22,804
CapCo	$	206,145	$	206,145
DIM	1,100		1,132
Vestar/EQY Talega LLC (5)	147		181
Vestar/EQY Vernola LLC (6)	361		428
Total noncontrolling interests included in total equity	$	207,753	$	207,886

^{______________________________________________} 

⁽¹⁾ This entity owns the Danbury Green Shopping Center.

⁽²⁾ This entity owns the Southbury Green Shopping Center.

⁽³⁾ This entity owns the Canyon Trails Shopping Center.

⁽⁴⁾ We have entered into a redemption agreement whereby our joint venture partner can request that we purchase their interest at any time

before January 1, 2014.

⁽⁵⁾ Holds our interest in Talega Village Center JV, LLC.

⁽⁶⁾ Holds our interest in Vernola Marketplace JV, LLC.

Noncontrolling interest represents the portion of equity that we do not own in those entities that we consolidate. We account for and report our noncontrolling interest in accordance with the provisions under the Consolidation Topic of the FASB ASC.

We are involved in the following investment activities in which we have a controlling interest:

On January 1, 1999, Equity One (Walden Woods) Inc., a wholly-owned subsidiary of ours, formed a limited partnership as a general partner. Walden Woods Village, an income producing shopping center, was contributed by its owners (the “Noncontrolling Partners”), and we contributed 93,656 shares of our common stock to the limited partnership at an agreed-upon price of $10.30 per share. Under the terms of the agreement, the Noncontrolling Partners do not share in any earnings of the partnership, except to the extent of dividends received by the partnership for the shares originally contributed by us. Based on the per-share price and the net value of property contributed by the Noncontrolling Partners, the limited partners received 93,656 partnership units. We have entered into a redemption agreement with the Noncontrolling Partners whereby the Noncontrolling Partners can request that we purchase their partnership units at a price of $10.30 per unit at any time before January 1, 2014. In accordance with the Distinguishing Liabilities subtopic from the Equity Topic of the FASB ASC, the value of the redeemable noncontrolling interest of $989,000 is included in the mezzanine section of our consolidated balance sheet, separate from permanent equity, until the earlier of January 1, 2014 or upon election by the Noncontrolling Partners to redeem their partnership units. We have also entered into a conversion agreement with the Noncontrolling Partners pursuant to which, following notice, the Noncontrolling Partners can convert their partnership units into our common stock. The Noncontrolling Partners have not exercised their redemption or conversion rights, and their noncontrolling interest remains valued at $989,000 at December 31, 2012.

Two of our joint ventures in which we have a controlling interest, together, own our Sunlake development project. We have funded all of the acquisition costs, are required to fund any necessary development and operating costs, receive an 8% preferred return on our advances, have reimbursement rights of all capital outlays upon disposition of the property, and are entitled to 60% of the profits thereafter. The minority partners are not required to make contributions and, to date, have not contributed any capital. Noncontrolling interest will not be recorded until the equity in the property surpasses our capital expenditures and cumulative preferred return.

On January 9, 2009, we entered into the DIM exchange agreement under which we agreed to acquire up to 2,004,249 ordinary shares of DIM from another DIM shareholder. On January 14, 2009, at an initial closing pursuant to this agreement, we issued

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866,373 shares of our common stock in exchange for a total of 1,237,676 DIM ordinary shares (or depositary receipts with respect thereto), representing 15.1% of DIM’s outstanding ordinary shares. In connection with this initial closing, we also obtained voting rights with respect to another 766,573 DIM ordinary shares. As a result of the initial stock exchange, subsequent purchases and the voting rights agreement, as of December 31, 2009, we owned 5,367,817 ordinary shares of DIM, representing approximately 65.3% of its total outstanding shares, and had voting control over approximately 74.7% of DIM’s outstanding ordinary shares. On February 19, 2010, we issued 536,601 shares of our common stock in exchange for the remaining 766,573 DIM ordinary shares in accordance with the DIM exchange agreement. Following the initial closing on January 14, 2009, we determined that we had sufficient control over DIM to consolidate its results effective as of the acquisition date in accordance with the Business Combinations Topic of the FASB ASC. Upon consolidation, we recorded $25.8 million of noncontrolling interest which represented the fair value of the portion of DIM’s equity that we did not own upon acquisition.

In addition to the shares issued under the DIM exchange agreement, we acquired DIM shares through open market and private purchases bringing our ownership interest to approximately 97.8% at December 31, 2012 and 2011. We expensed approximately $1.1 million of acquisition-related costs related to DIM during the year ended December 31, 2010. We did not incur any DIM acquisition-related costs during the years ended December 31, 2012 and 2011.

The following table shows the effects on our equity resulting from the changes in our ownership interest in consolidated subsidiaries:

	Year Ended December 31,
	2012			2011		2010
	(In thousands)
Net (loss) income attributable to Equity One, Inc.	$	(3,477	)	$	33,621	$	25,112
Increase in our paid-in capital for purchases of DIM ordinary shares (1)	—			—		7,562
Net transfers from noncontrolling interest	—			—		7,562
Change from net (loss) income attributable to Equity One, Inc. and    transfers from noncontrolling interest	$	(3,477	)	$	33,621	$	32,674

^{______________________________________________} 

⁽¹⁾ For purchases of 33,213 and 2,637,488 DIM ordinary shares for the years ended December 31, 2011 and 2010, respectively. There were no purchases of DIM ordinary shares for the year ended December 31, 2012.

In December 2010, we acquired controlling interests in three joint ventures with Vestar which required us to consolidate their results as of the acquisition date. Upon consolidation, we recorded $5.2 million of noncontrolling interest which represented the fair value of the portion of the joint venture equity that we did not own upon acquisition. For the Equity One/Vestar JVs, $508,000 and $609,000 of noncontrolling interest is recorded in permanent equity in our consolidated balance sheets at December 31, 2012 and 2011, respectively. Our Arizona joint venture with Vestar contains certain provisions which may require us to redeem the noncontrolling interest at fair market value at Vestar’s option. Due to the redemption feature, we have recorded the $2.6 million and $2.9 million of noncontrolling interest associated with this venture in the mezzanine section of our consolidated balance sheets at December 31, 2012 and 2011, respectively, which approximates redemption value at such date. The carrying amount of Vestar’s redeemable noncontrolling interest will be increased by periodic accretions, which shall be recognized against paid-in capital, such that the carrying amount of the noncontrolling interest will equal the mandatory redemption amount.

We acquired a controlling interest in CapCo on January 4, 2011 which required us to consolidate CapCo’s results as of the acquisition date. We recorded $206.1 million of noncontrolling interest upon consolidation, which represented the fair value of the portion of CapCo’s equity that we did not own upon acquisition. The $206.1 million of noncontrolling interest is reflected in the equity section of our consolidated balance sheet as permanent equity at December 31, 2012. Since LIH, the noncontrolling party, only participates in the earnings of CapCo to the extent of dividends declared on our common stock and considering that dividends are generally declared and paid in the same quarter, subsequent changes to the noncontrolling interest will only occur if dividends are declared but not paid, or if we acquire all or a portion of LIH’s interest or if its LLC shares in CapCo are converted into our common stock. See Note 5 above for a discussion of the CapCo joint venture.

In October 2011, we acquired a 60% controlling interest in two VIEs, Danbury 6 Associates LLC and Southbury 84 Associates LLC. We determined that we are the primary beneficiary of these entities and, accordingly, we consolidated their results as of the acquisition date. Upon consolidation, we recorded $19.0 million of noncontrolling interest which represented the estimated fair value of the preferred equity interests which are entitled to a cumulative 5% annual preferred return, held by the noncontrolling interest holders. The operating agreements contain certain provisions that may require us to redeem the noncontrolling interest at the balance of their contributed capital as adjusted for unpaid preferred returns due to them pursuant to the operating agreements. The provisions are exercisable at any time prior to the tenth anniversary of the acquisition closing. Due to the redemption feature, we have recorded the $19.0 million of noncontrolling interest associated with this venture in the mezzanine section of our

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consolidated balance sheets at December 31, 2012 and 2011, which approximates redemption value. The carrying amount of the redeemable noncontrolling interest is increased by periodic accretions of a preferred return of 5%, and will be decreased by payments made to the noncontrolling partner which shall be recognized as income attributable to the noncontrolling interest holders for the period, such that the carrying amount of the noncontrolling interest will equal the mandatory redemption amount. Both the income attributable to the noncontrolling interest holders and amounts paid to them during the year ended December 31, 2012 were $944,000. The income attributable to the noncontrolling interest holders and amounts paid to them during the year ended December 31, 2011 were $168,000 and $89,000, respectively.

18. Stockholders’ Equity and (Loss) Earnings Per Share

During each quarter of 2012, our Board of Directors declared cash dividends of $0.22 per share on our common stock. These dividends were paid in March, June, September and December 2012.

In August 2012, we completed an underwritten public offering and concurrent private placement totaling 4.1 million shares of our common stock at a price to the public and in the private placement of $21.20 per share. In the concurrent private placement, 500,000 shares were purchased by MGN (USA), Inc., an affiliate of our largest stockholder, Gazit-Globe, Ltd. ("Gazit"), which may be deemed to be controlled by Chaim Katzman, the Chairman of our Board of Directors. The offerings generated proceeds to us of approximately $85.6 million. The stock issuance costs and underwriting discounts were approximately $813,000. We used the net proceeds to reduce the outstanding balance under our unsecured revolving credit facility.

In May 2011, we completed an underwritten public offering and concurrent private placement of an aggregate of 6.0 million shares of our common stock at a price to the public and in the private placement of $19.42 per share. In the concurrent private placement, 1.0 million shares were purchased by MGN (USA), Inc. The offerings generated proceeds to us of approximately $115.7 million, net of stock issuance costs and underwriting discounts of $858,000.

In connection with the CapCo acquisition on January 4, 2011, LIH transferred and assigned to us an outstanding promissory note of CapCo in the amount of $67.0 million in exchange for approximately 4.1 million shares of our common stock and one share of a newly-established class of our capital stock, Class A common stock, that (i) was convertible into 10,000 shares of our common stock in certain circumstances, and (ii) subject to certain limitations, entitled LIH to voting rights with respect to a number of shares of our common stock determined with reference to the number of joint venture shares held by LIH from time to time. Effective June 29, 2011, the one share of Class A common stock was converted in accordance with its terms into 10,000 shares of our common stock.

Also in connection with the closing of the CapCo transaction in 2011, we executed a Registration and Liquidity Rights Agreement between us and LIH pursuant to which we agreed to register the approximately 4.1 million shares of our common stock received by LIH in the transaction and the approximately 11.4 million shares of our common stock issuable if we exercise our right to pay for the redemption of LIH’s joint venture units with shares of our common stock. On March 9, 2012, LIH sold the approximately 4.1 million shares of our common stock issued in exchange for the CapCo note and upon conversion of the Class A common stock pursuant to an underwritten public offering. Pursuant to the Registration and Liquidity Rights Agreement, we paid all of the expenses of the offering other than underwriting discounts and legal expenses of counsel to LIH, which amounted to $169,000 for the year ended December 31, 2012, and are included in general and administrative expenses in the accompanying consolidated statement of operations.

In March and December 2010, we completed underwritten public offerings of an aggregate of approximately 14.0 million shares of our common stock and concurrent private placements of an aggregate of approximately 1.5 million shares of our common stock at a price to the public and in the private placement of $18.40 and $16.90 per share, respectively. Shares issued in the private placements were purchased by MGN America, LLC and Silver Maple (2001), Inc., affiliates of Gazit. The offerings generated net proceeds to us of approximately $267.8 million.

(Loss) Earnings per Share

During 2010, we issued 536,601 shares of our common stock in exchange for DIM stock under the DIM exchange agreement. There were no such shares issued for the years ended December 31, 2012 and 2011. We were required to adjust our basic income used in our basic earnings per share (“EPS”) calculations for the incremental gain or (loss) attributable to our increased ownership, as well our weighted-average shares to include the additional share issuance to the extent that the adjustment was not anti-dilutive.

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The following summarizes the calculation of basic EPS and provides a reconciliation of the amounts of net (loss) income available to common stockholders and shares of common stock used in calculating basic EPS:

	Year Ended December 31,
	2012			2011				2010
	(In thousands)
(Loss) income from continuing operations	$	(6,755	)	$	26,899			$	6,146
Net (income) loss attributable to noncontrolling interests	(10,702		)	(9,630		)		254
(Loss) income from continuing operations attributable to Equity One, Inc.	(17,457		)	17,269				6,400
Allocation of continuing income to restricted share awards and to Class A    common stockholder	(1,082		)	(1,169		)		(280		)
(Loss) income from continuing operations attributable to common    stockholders	(18,539		)	16,100				6,120
Income from discontinued operations	13,980			16,319				18,273
Net loss attributable to noncontrolling interests	—			33				439
Income from discontinued operations attributable to Equity One, Inc.	13,980			16,352				18,712
Allocation of discontinued income to restricted share awards and to    Class A common stockholder	(150		)	(196		)		(66		)
Income from discontinued operations attributable to common stockholders	13,830			16,156				18,646
Net (loss) income available to common stockholders	$	(4,709	)	$	32,256			$	24,766
Weighted average shares outstanding – Basic	114,233			110,099				91,536
Basic (loss) earnings per share attributable to the common stockholders:
Continuing operations	$	(0.16	)	$	0.15			$	0.07
Discontinued operations	0.12			0.15				0.20
(Loss) earnings per common share — Basic	$	(0.04	)	$	0.29		*	$	0.27

* Note: EPS does not foot due to the rounding of the individual calculations.

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The following summarizes the calculation of diluted EPS and provides a reconciliation of the amounts of net (loss) income available to common stockholders and shares of common stock used in calculating diluted EPS:

	Year Ended December 31,
	2012			2011				2010
	(In thousands)
(Loss) income from continuing operations	$	(6,755	)	$	26,899			$	6,146
Net (income) loss attributable to noncontrolling interests	(10,702		)	(9,630		)		254
(Loss) income from continuing operations attributable to Equity One, Inc.	(17,457		)	17,269				6,400
Allocation of continuing income to restricted share awards and to    Class A common stockholder	(1,082		)	(1,169		)		(280		)
Allocation of earnings associated with DIM contingent shares	—			—				(91		)
(Loss) income from continuing operations attributable to common    stockholders	(18,539		)	16,100				6,029
Income from discontinued operations	13,980			16,319				18,273
Net loss attributable to noncontrolling interests	—			33				439
Income from discontinued operations attributable to Equity One, Inc.	13,980			16,352				18,712
Allocation of discontinued income to restricted share awards and to    Class A common stockholder	(136		)	(178		)		(66		)
Income from discontinued operations attributable to common    stockholders	13,844			16,174				18,646
Net (loss) income available to common stockholders	$	(4,695	)	$	32,274			$	24,675
Weighted average shares outstanding – Basic	114,233			110,099				91,536
Stock options using the treasury method	—			142				102
Contingent shares to be issued for DIM stock	—			—				72
Weighted average shares outstanding – Diluted	114,233			110,241				91,710
Diluted (loss) earnings per share attributable to common stockholders:
Continuing operations	$	(0.16	)	$	0.15			$	0.07
Discontinued operations	0.12			0.15				0.20
(Loss) earnings per common share — Diluted	$	(0.04	)	$	0.29		*	$	0.27

* Note: EPS does not foot due to the rounding of the individual calculations.

The computation of diluted EPS for the year ended December 31, 2012 did not include 3.5 million shares of common stock, issuable upon the exercise of outstanding options, at prices ranging from $11.59 to $26.66 as the effect would be anti-dilutive. The computation of diluted EPS for the years ended December 31, 2011 and 2010 did not include 1.9 million shares of common stock for each period, issuable upon the exercise of outstanding options, at prices ranging from $18.88 to $26.66 and $17.79 to $26.66, respectively, because the option prices were greater than the average market prices of our common shares during these respective periods.

The computation of diluted EPS for the years ended December 31, 2012 and 2011 did not include the 11.4 million and 11.2 million, respectively, weighted average joint venture units held by LIH which are convertible into our common stock. The LIH shares are redeemable for cash or, solely at our option, our common stock on a one-for-one basis, subject to certain adjustments. These convertible units are not included in the diluted weighted average share count because their inclusion is anti-dilutive.

19. Share-Based Payment Plans

The Equity One Amended and Restated 2000 Executive Incentive Compensation Plan (the “2000 Plan”) provides for grants of stock options, stock appreciation rights, restricted stock, and deferred stock, other stock-related awards and performance or annual incentive awards that may be settled in cash, stock or other property. The persons eligible to receive an award under the 2000 Plan are our officers, directors, employees and independent contractors. Following an amendment to the 2000 Plan, approved by our stockholders on May 2, 2011, the total number of shares of common stock that may be issuable under the 2000 Plan is 13.5 million shares, plus (i) the number of shares with respect to which options previously granted under the 2000 Plan terminate without being exercised, and (ii) the number of shares that are surrendered in payment of the exercise price for any awards or any tax withholding requirements.

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The 2000 Plan will terminate on the earlier of May 2, 2021 or the date on which all shares reserved for issuance under the 2000 Plan have been issued. As of December 31, 2012, 5.0 million shares were available for issuance under the 2000 Plan, as amended.

Discounts offered to participants under our 2004 Employee Stock Purchase Plan represent the difference between market value of our stock on the purchase date and purchase price of shares as provided under the plan. A portion of share-based compensation cost is capitalized as part of property-related assets.

Options and Restricted Stock

As of December 31, 2012, we have stock options and restricted stock outstanding under the 2000 Plan. In addition, in connection with the initial employment in 2006 of Jeffrey S. Olson, our Chief Executive Officer, we issued Mr. Olson options to purchase 364,660 shares of common stock.

The term of each award is determined by our compensation committee, but in no event can be longer than ten years from the date of grant. The vesting of the awards is determined by the committee, in its sole and absolute discretion, at the date of grant of the award. Dividends are paid on certain shares of non-vested restricted stock, which makes the restricted stock a participating security under the Earnings Per Share Topic of the FASB ASC. Certain options, restricted stock and other share awards provide for accelerated vesting if there is a change in control, as defined in the 2000 Plan.

The fair value of each option awarded during 2012, 2011and2010 was estimated on the date of grant using the Black-Scholes-Merton option-pricing model. Expected volatilities, dividend yields, employee exercises and employee forfeitures are primarily based on historical data. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant. We measure compensation expense for restricted stock awards based on the fair value of our common stock at the date of the grant and charge to expense such amounts ratably over the vesting period. For grants with a graded vesting schedule, we have elected to recognize compensation expense on a straight-line basis. We used the shortcut method described in the Share Compensation Topic of the FASB ASC for determining the expected life used in the valuation method.

The following table presents stock option activity:

	Year Ended December 31,
	2012				2011				2010
	Shares Under Option		Weighted- Average  Exercise Price		Shares Under Option		Weighted- Average  Exercise Price		Shares Under Option		Weighted- Average  Exercise Price
	(In thousands)				(In thousands)				(In thousands)
Outstanding at the beginning of year	3,565		$	20.62	3,346		$	20.73	2,762		$	21.28
Granted	—		—		227		19.07		609		18.56
Exercised	(42	)	11.59		(2	)	18.88		—		—
Forfeited or expired	(2	)	18.88		(6	)	18.88		(25	)	28.05
Outstanding at the end of year	3,521		$	20.73	3,565		$	20.62	3,346		$	20.73
Exercisable at the end of year	3,041		$	21.15	2,675		$	21.54	2,157		$	22.62
Weighted-average fair value of options    granted during the year			$	—			$	3.67			$	3.43

The total cash or other consideration received from options exercised during the years ended December 31, 2012 and 2011 was $493,000 and $31,000, respectively. No options were exercised during the year ended December 31, 2010.

The total intrinsic value of options exercised during the years ended December 31, 2012 and 2011 was approximately $319,000 and $1,000, respectively. Options exercisable at December 31, 2012 and 2011 had an intrinsic value of approximately $5.3 million and $1.2 million, respectively.

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The fair value of each option grant was estimated on the grant date using the Black-Scholes-Merton pricing model with the following assumptions:

	Year Ended December 31,
	2011	2010
Dividend yield	4.6%	4.4% - 4.8%
Risk-free interest rate	2.7%	1.9% - 2.9%
Expected option life (years)	6.0 - 6.25	5.75 - 6.5
Expected volatility	30.2%	28.6% - 30.7%

The options were granted with an exercise price equivalent to the current stock price on the grant date or the ten-day average of the stock price prior to the grant date. No options were granted during the year ended December 31, 2012.

Restricted Stock Grants and Long-Term Incentive Compensation Plan

The following table presents information regarding restricted stock activity during the year ended December 31, 2012:

	Unvested Shares			Weighted-Average Price
	(In thousands)
Unvested at January 1, 2012	1,178			$	17.23
Granted	72			$	18.85
Vested	(271	)		$	18.06
Forfeited	(4	)		$	19.25
Unvested at December 31, 2012	975		*	$	17.11

 ___________________________

* Does not include 800,000 shares of restricted stock awarded to certain executives which are subject to performance vesting conditions and are not entitled to vote or receive dividends during the performance period as discussed below.

Our compensation committee grants restricted stock to our officers, directors, and other employees. Vesting periods for the restricted stock are determined by our compensation committee. We measure compensation costs for restricted stock awards based on the fair value of our common stock at the date of the grant and expense such amounts ratably over the vesting period. As of December 31, 2012, we had 975,380 shares of non-vested restricted stock grants outstanding.

During the year ended December 31, 2012, we granted 71,934 shares of restricted stock that are subject to forfeiture and vest over periods from 0 to 3 years. The total grant-date value of the 270,927 shares of restricted stock that vested during the year ended December 31, 2012 was $4.9 million.

Jeffrey S. Olson, our chief executive officer, was eligible for long term incentive cash compensation subject to a performance-based schedule which ended on December 31, 2010 after a four-year performance measurement period. In order for him to have received compensation, our total stockholder return over the performance period must have exceeded 6% and achieved a certain spread against the average total return of a defined peer group. At the end of the performance period, the total return targets were not met and, as such, no cash or other compensation was awarded in connection with the long-term incentive plan. As a result, in 2010, we reversed the remaining $0.7 million of liability associated with the award into earnings.

On August 9, 2010, 698,894 restricted shares were awarded to Jeffrey S. Olson as part of his new employment agreement with us. Of this amount, 582,412 restricted shares (“Contingent Shares”) were issued under the 2000 Plan and will vest if our total shareholder return over a four-year measurement period commencing on January 1, 2011 exceeds the average total shareholder return of a peer group of publicly traded retail property REITs, as well as an absolute return threshold. All of the Contingent Shares will vest on December 31, 2014 (or such shorter time as provided in the employment agreement) if our total shareholder return for the measurement period both (1) exceeds the average total shareholder return of the peer group of companies by at least 300 basis points and (2) equals or exceeds 9%. If the full vesting requirements are not met, one-half of the Contingent Shares will vest on December 31, 2014 if our total shareholder return for the measurement period both (1) exceeds the average total shareholder return of the peer group of companies by at least 150 basis points and (2) equals or exceeds 6%. Mr. Olson must be employed by us on the vesting date. Mr. Olson will receive any dividends declared on the Contingent Shares over the measurement period and those dividends will not be forfeited by Mr. Olson if the Contingent Shares fail to vest.

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On January 28, 2011, we entered into employment agreements with Mr. Caputo, Arthur L. Gallagher, our Executive Vice President and President of Florida, and Mark Langer, our Executive Vice President and Chief Financial Officer, which are effective as of February 1, 2011. The initial term of each employment agreement ends December 31, 2014 and will automatically renew for successive one-year periods unless either party gives the other written notice at least six months before the expiration of the applicable term of that party’s intent to let the employment agreement expire. We granted an aggregate of 800,000 restricted shares (the “Executive Shares”) under the new employment agreements which will vest if our total shareholder return over a four-year measurement period commencing on February 1, 2011 exceeds the average total shareholder return of a peer group of publicly traded retail property REITs, as well as an absolute return threshold. The total return thresholds for the Executive Shares are the same as the thresholds applicable to the Contingent Shares awarded to Mr. Olson. Messrs Caputo, Gallagher, and Langer do not participate in dividends over the performance period and must be employed by us on the vesting date to receive the shares. As these shares are not entitled to vote or receive dividends during the performance period, they are not included in our restricted share count.

The Contingent Shares and the Executive Shares were each valued at approximately $4.5 million utilizing a Monte Carlo simulation to estimate the probability of the performance vesting conditions being satisfied. The Monte Carlo simulation used the statistical formula underlying the Black-Scholes-Merton binomial formula. For the Contingent Shares, we recognize compensation expense over the requisite service period from August 9, 2010 through December 31, 2014. For the Executive Shares, we recognize compensation expense over the requisite service period from January 28, 2011 through December 31, 2014. During the years ended December 31, 2012 and 2011, we recognized approximately $1.1 million and $1.0 million, respectively, of compensation expense related to the Executive Shares, and approximately $1.0 million of compensation expense related to the Contingent Shares each period.

Further to Mr. Olson’s employment agreement dated August 9, 2010, the remaining unvested shares related to his previous employment agreement dated September 5, 2006 were modified in that, of the 24,291 restricted shares scheduled to vest on December 31, 2010, 14,170 were made to vest on August 9, 2010, 5,061 vested on December 31, 2012 and the remaining 5,060 are scheduled to vest on December 31, 2014. We elected to account for the modification of the award by recognizing the total cost of the newly modified award ratably over the newly defined requisite service period.

Also included in the restricted stock grants are 380,000 shares awarded to our chairman as part of his chairman compensation agreement with us which was executed on August 9, 2010, (i) 31,250 of which vested on January 1, 2011; (ii) 7,266 of which will vest on the first day of each calendar month beginning February 2011 and ending December 2014; and (iii) 7,248 of which will vest on December 31, 2014.

Pursuant to their employment agreements, each of our executive officers is entitled to an annual bonus based upon the achievement of certain performance levels established by our compensation committee. We anticipate that the performance levels will be set for each calendar year so that each executive can reasonably be expected to earn a bonus for such calendar year in an amount equal to 50% of his base salary for each of Messrs. Olson and Caputo and 100% of his base salary for each of Messrs. Langer and Gallagher. Bonuses for Messrs. Olson and Caputo are payable in cash; bonuses for Messrs. Langer and Gallagher are payable one-half in cash and one-half in shares of restricted stock, which shares will vest in equal portions on the first, second and third year anniversaries of the grant date, subject to the executive then being employed by us, provided that the number of shares of restricted stock that would otherwise be granted to Mr. Langer for any bonus with respect to the 2011 or 2012 calendar years will be reduced (but not below zero) by 12,500 shares. No bonus will be payable for Mr. Langer or Mr. Gallagher in respect of a calendar year in which such executive allows his employment agreement to expire. If we allow either Mr. Langer’s or Mr. Gallagher’s employment agreement to expire, all unvested shares of restricted stock granted to the executive in respect of the foregoing annual bonuses will continue to vest as if the executive had been employed through the last date such shares would have otherwise vested.

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Share-Based Compensation Expense

Share-based compensation expense charged against earnings is summarized as follows:

	Year Ended December 31,
	2012			2011			2010
	(in thousands)
Restricted stock expense	$	6,060		$	5,692		$	4,194
Stock option expense	1,040			1,454			2,347
Employee stock purchase plan discount	13			14			10
Total equity-based expense	7,113			7,160			6,551
Restricted stock classified as a liability	51			103			—
Total expense	7,164			7,263			6,551
Less amount capitalized	(301		)	(271		)	(54		)
Net share-based compensation expense	$	6,863		$	6,992		$	6,497

As of December 31, 2012, we had $11.0 million of total unrecognized compensation expense related to unvested and restricted share-based payment arrangements (unvested options and restricted shares) granted under the 2000 Plan. This expense is expected to be recognized over a weighted-average period of 1.9 years.

401(k) Plan

We have a 401(k) defined contribution plan (the “401(k) Plan”) covering substantially all of our officers and employees which permits participants to defer compensation up to the maximum amount permitted by law. We match 100% of each employee’s contribution up to 3.0% of the employee’s annual compensation and, thereafter, match 50% of the next 3.0% of the employee’s annual compensation. Employees’ contributions and our matching contributions vest immediately. Our contributions to the 401(k) Plan for the years ended December 31, 2012, 2011and2010 were $432,000, $418,000 and $332,000, respectively.

2004 Employee Stock Purchase Plan

Under the 2004 Employee Stock Purchase Plan, our employees, including our directors who are employees, are eligible to participate in quarterly plan offerings in which payroll deductions may be used to purchase shares of our common stock. The purchase price per share is 90% of the average closing price per share of our common stock on the NYSE on the five trading days that immediately precede the date of purchase, provided, however, that in no event shall the exercise price per share of common stock on the exercise date of an offering period be less than the lower of (i) 85% of the market price on the first day of the offering period or (ii) the market price on the exercise date.

20. Segment Reporting

We review operating and financial data for each property on an individual basis; therefore each of our individual properties is a separate operating segment. We have aggregated our operating segments in six reportable segments based primarily upon our method of internal reporting which classifies our operations by geographical area. Our reportable segments by geographical area are as follows: (1) South Florida – including Miami-Dade, Broward and Palm Beach Counties; (2) North Florida – including all of Florida north of Palm Beach County; (3) Southeast - including Georgia, Louisiana, Alabama, Mississippi, North Carolina, South Carolina and Virginia; (4) Northeast – including Connecticut, Maryland, Massachusetts and New York; (5) West Coast – including California and Arizona; and (6) Other/Non-retail – which comprises our non-retail assets. Our segments as reported in this Annual Report on Form 10-K for the year ended December 31, 2012 are not consistent with our segments as reported in our Annual Report on Form 10-K for the year ended December 31, 2011. We have divided our previously combined North Florida and Southeast region into two separate regions in this Annual Report on Form 10-K for the period ended December 31, 2012, as a result of a change in management responsibilities for the North Florida region during the first quarter of 2012 and corresponding changes in our internal reporting. These changes have been reflected in our segment disclosures for all periods presented herein.

We assess a segment’s performance based on net operating income (“NOI”). NOI excludes interest and other income, acquisition costs, general and administrative expenses, interest expense, depreciation and amortization expense, (losses) gains from extinguishments of debt, income (loss) of unconsolidated joint ventures, gains on sales of real estate, impairments, and noncontrolling interests. NOI is a non-GAAP financial measure. The most directly comparable GAAP financial measure is (loss)income from continuing operations before tax and discontinued operations, which, to calculate NOI, is adjusted to add back amortization of deferred financing fees, rental property depreciation and amortization, interest expense, impairment losses and general and administrative expense, and to exclude revenue earned from management and leasing services, straight line rent

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adjustments, accretion of below market lease intangibles (net), gain on sale of real estate, equity in income (loss) of unconsolidated joint ventures, gain on bargain purchase and acquisition of controlling interest in subsidiary, (loss) gain on extinguishment of debt, investment income, and other income. NOI includes management fee expense recorded at each operating segment based on a percentage of revenue which is eliminated in consolidation. We use NOI internally as a performance measure and believe NOI provides useful information to investors regarding our financial condition and results of operations because it reflects only those income and expense items that are incurred at the property level. Therefore, we believe NOI is a useful measure for evaluating the operating performance of our real estate assets. NOI presented by us may not be comparable to NOI reported by other REITs that define NOI differently. We believe that in order to facilitate a clear understanding of our operating results, NOI should be examined in conjunction with (loss) income from continuing operations before tax and discontinued operations as presented in our consolidated financial statements. NOI should not be considered as an alternative to net (loss) income attributable to Equity One, Inc. as an indication of our performance or to cash flows as a measure of liquidity or our ability to make distributions. We consider NOI to be an appropriate supplemental measure to net income because it helps both investors and management to understand the core operations of our properties.

The following table sets forth the financial information relating to our continuing operations presented by segments and includes a reconciliation of NOI to (loss) income from continuing operations before tax and discontinued operations, the most directly comparable GAAP financial measure:

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	Year Ended December 31,
	2012			2011			2010
	(In thousands)
Revenue:
South Florida	$	91,398		$	86,203		$	87,150
North Florida	43,944			45,973			44,500
Southeast	47,694			46,654			46,739
Northeast	53,197			35,997			30,387
West Coast	67,583			48,940			—
Non-retail	2,788			2,846			903
Total segment revenue	306,604			266,613			209,679
Add:
Straight line rent adjustment	3,837			2,377			2,018
Accretion of below market lease intangibles, net	12,681			8,931			4,755
Management and leasing services	2,489			2,287			1,557
Total revenue	$	325,611		$	280,208		$	218,009
Net operating income (NOI):
South Florida	$	61,577		$	57,008		$	56,741
North Florida	30,877			31,772			31,028
Southeast	33,685			32,574			32,854
Northeast	36,639			25,608			21,905
West Coast	44,597			31,921			—
Non-retail	1,358			1,107			150
Total	208,733			179,990			142,678
Add:
Straight line rent adjustment	3,837			2,377			2,018
Accretion of below market lease intangibles, net	12,681			8,931			4,755
Management and leasing services	2,489			2,287			1,557
Elimination of intersegment expenses	10,226			7,497			6,408
Investment income	7,248			4,342			930
Equity in income (loss) of unconsolidated joint ventures	542			4,829			(116		)
Other income	45			406			648
Gain on bargain purchase	—			30,561			—
Gain on sale of real estate	—			5,541			254
(Loss) gain on extinguishment of debt	(29,153		)	(2,175		)	33
Less:
Rental property depreciation and amortization	86,006			81,446			48,294
General and administrative	42,474			50,976			41,360
Interest expense	72,175			68,964			62,734
Amortization of deferred financing fees	2,479			2,207			1,891
Impairment loss	22,772			19,158			464
(Loss) income from continuing operations before tax and discontinued     operations	$	(9,258	)	$	21,835		$	4,422

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Of the $22.8 million impairment loss recorded for the year ended December 31, 2012 relating to properties held for use, $12.3 million related to assets in our Southeast region, $9.8 million related to assets in our North Florida region, $600,000 related to assets in our South Florida region and $140,000 related to assets in our West Coast region. Of the $19.2 million impairment loss recorded for the year ended December 31, 2011, $15.1 million related to assets in our Southeast region, $3.8 million related to assets in our South Florida region and $266,000 related to assets in our North Florida region. Of the $464,000 impairment loss recorded for the year ended December 31, 2010, $273,000 related to assets in our Southeast region, $162,000 related to assets in our North Florida region and $29,000 related to assets in our South Florida region.

	December 31,
	2012		2011
	(In thousands)
Assets:
South Florida	$	712,101	$	717,434
North Florida	352,943		362,460
Southeast	396,944		415,521
Northeast	894,658		645,439
West Coast	821,347		714,227
Non-retail	33,525		34,023
Corporate assets	206,741		189,016
Properties held for sale	84,409		144,451
Total assets	$	3,502,668	$	3,222,571

21. Future Minimum Rental Income

Our properties are leased to tenants under operating leases with expiration dates extending to the year 2039. Future minimum rents under non-cancelable operating leases as of December 31, 2012, excluding tenant reimbursements of operating expenses and percentage rent based on tenants’ sales volume are as follows:

Year Ending December 31,	Amount
	(In thousands)
2013	$	238,953
2014	208,145
2015	176,780
2016	139,855
2017	108,167
Thereafter	454,194
Total	$	1,326,094

22. Commitments and Contingencies

As of December 31, 2012, we had pledged letters of credit having an aggregate face amount of $1.8 million as additional security for financial and other obligations.

As of December 31, 2012, we have invested an aggregate of approximately $169.6 million in development or redevelopment projects at various stages of completion and anticipate that these projects will require an additional $91.5 million to complete, based on our current plans and estimates, which we anticipate will be expended over the next three years. These obligations, comprising principally construction contracts, are generally due as the work is performed and are expected to be financed by the funds available under our credit facilities, proceeds from the issuance of additional debt or equity securities, capital from institutional partners that desire to form joint venture relationships with us and proceeds from property dispositions.

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We are subject to litigation in the normal course of business. However, we do not believe that any of the litigation outstanding as of December 31, 2012 will have a material adverse effect on our financial condition, results of operations or cash flows. During the year ended December 31, 2012, we recorded $525,000, which is included in property operating expenses in the accompanying consolidated statement of operations, related to litigation that was settled in the first quarter of 2012.

In October 2012, we entered into a contract to acquire the Westwood Complex as further discussed in Note 11. We are monitoring litigation brought against the seller of the Westwood Complex by a party with whom the seller formed a joint venture in 2001 to own an apartment building adjacent to the Westwood Complex. The plaintiff in the litigation claims that the seller, as manager of the apartment joint venture, breached certain fiduciary duties owing to the joint venture partner by purchasing the Westwood Complex and the land underlying the adjacent apartment building for the seller's own account in 2005. We are not a party to the litigation. In so far as the litigation relates to the Westwood Complex, the seller has substantially prevailed twice at the trial court level, and we believe the seller will prevail in the appeal currently pending in the Court of Special Appeals of Maryland, but there can be no assurance that this will be the case. If the seller does not prevail, it is possible that the court may make the Westwood Complex available to satisfy any judgment against the seller (through forced sale or otherwise). The loan documentation and purchase agreement governing our transaction with the seller provide us with various protections in the event such an adverse litigation outcome were to occur. In light of the litigation history and the protections afforded us by the transaction structure, we believe the likelihood of loss resulting from the litigation to be remote and not material to our business or results of operations.

At December 31, 2012, we are obligated under non-cancellable operating leases for office space, equipment rentals and ground leases on certain of our properties. At December 31, 2012, minimum annual payments under non-cancellable operating leases are as follows:

Year Ending December 31,	Amount
	(In thousands)
2013	$	1,219
2014	1,191
2015	1,156
2016	1,082
2017	1,074
Thereafter	18,466
Total	$	24,188

23. Environmental Matters

We are subject to numerous environmental laws and regulations. The operation of dry cleaning and gas station facilities at our shopping centers are the principal environmental concerns. We require that the tenants who operate these facilities do so in material compliance with current laws and regulations and we have established procedures to monitor dry cleaning operations. Where available, we have applied and been accepted into state sponsored environmental programs. Several properties in the portfolio will require or are currently undergoing varying levels of environmental remediation. We have environmental insurance policies covering most of our properties which limits our exposure to some of these conditions, though these policies are subject to limitations and environmental conditions known at the time of acquisition are typically excluded from coverage. During 2012 and 2011, we had one significant environmental remediation matter related to The Gallery at Westbury Plaza, which was fully remediated in 2012. See Note 13 for further discussion of this matter. Management believes that the ultimate disposition of currently known environmental matters will not have a material effect on our financial position, liquidity or operations.

24. Fair Value Measurements

Fair Value Hierarchy

The Fair Value Measurements and Disclosures Topic of FASB ASC establishes a framework for measuring fair value and requires the categorization of financial assets and liabilities, based on the inputs to the valuation technique, into a three-level fair value hierarchy. The fair value hierarchy gives the highest priority to the quoted prices in active markets for identical assets and liabilities and lowest priority to unobservable inputs. The various levels of the fair value hierarchy are described as follows:

• Level 1 – Financial assets and liabilities whose values are based on unadjusted quoted market prices for identical assets and liabilities in an active market that we have the ability to access.

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• Level 2 – Financial assets and liabilities whose values are based on quoted prices in markets that are not active or model inputs that are observable for substantially the full term of the asset or liability.

• Level 3 – Financial assets and liabilities whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement.

The Fair Value Measurements and Disclosures Topic of FASB ASC requires the use of observable market data, when available, in making fair value measurements. When inputs used to measure fair value fall within different levels of the hierarchy, the level within which the fair value measurement is categorized is based on the lowest level input that is significant to the fair value measurement.

Recurring Fair Value Measurements

As of December 31, 2012, we have interest rate swap agreements with a notional amount of $250.0 million that are measured at fair value on a recurring basis. The fair value of our interest rate swaps at December 31, 2012 was a liability of $7.0 million and is included in accounts payable and accrued expenses in our consolidated balance sheet as of such date. The net unrealized loss on our interest rate swaps was $7.0 million for the year ended December 31, 2012 and is included in accumulated other comprehensive loss. The fair value of the interest rate swaps is based on the estimated amount we would receive or pay to terminate the contract at the reporting date and is determined using interest rate pricing models and observable inputs. The interest rate swap is classified within Level 2 of the valuation hierarchy.

The following table presents our hierarchy for those liabilities measured and recorded at fair value on a recurring basis as of December 31, 2012:

	Fair Value Measurements
	Total		Level 1		Level 2		Level 3
	(In thousands)
Liabilities:
Interest rate swaps	$	6,954	$	—	$	6,954	$	—

We held no assets or liabilities that were required to be measured on a recurring basis at fair value as of December 31, 2011.

Valuation Methods

Interest rate swap - The valuation of interest rate swaps is determined using widely accepted valuation techniques, including discounted cash flow analysis on the expected cash flows of the derivative financial instrument. This analysis reflects the contractual terms of the derivative, including the period to maturity, and uses observable market-based inputs, including interest rate market data and implied volatilities in such interest rates. While it was determined that the majority of the inputs used to value the derivatives fall within Level 2 of the fair value hierarchy under authoritative accounting guidance, the credit valuation adjustments associated with the derivatives also utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default. However, as of December 31, 2012, the significance of the impact of the credit valuation adjustments on the overall valuation of the derivative financial instruments was assessed and it was determined that these adjustments are not significant to the overall valuation of the derivative financial instruments. As a result, it was determined that the derivative financial instruments in their entirety are classified in Level 2 of the fair value hierarchy. The unrealized loss included in other comprehensive income (“OCI”) of $7.0 million for the year ended December 31, 2012, is attributable to the net change in unrealized gains or losses related to the interest rate swaps that remain outstanding at December 31, 2012, none of which were reported in the consolidated statements of operations because they are documented and qualify as hedging instruments.

Long term incentive plan - We have a long-term incentive plan for four of our executives based on our total shareholder return versus returns for five of our peer companies. The fair value of this plan is determined using the average trial-specific value of the awards eligible for grant under the plan based upon a Monte Carlo simulation model. This model considers various assumptions, including time value, volatility factors, current market and contractual prices as well as projected future market prices for our common stock as well as common stock of our peer companies over the performance period. Substantially all of these assumptions are observable in the marketplace throughout the full term of the plan, can be derived from observable data or are supported by observable levels at which transactions are executed in the marketplace.

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Non-Recurring Fair Value Measurements

The following table presents our hierarchy for those assets measured and recorded at fair value on a non-recurring basis during the year ended December 31, 2012:

Assets:	Total		Level 1		Level 2		Level 3		Total Losses
	(In thousands)
Operating properties held and used (1)	$	19,800	$	—	$	—	$	19,800	$	21,507
Operating properties held for sale (1)	19,100		—		15,340		3,760		6,669
Development properties held and used (1)	12,510		—		—		12,510		740
Total	$	51,410	$	—	$	15,340	$	36,070	$	28,916

⁽¹⁾ Represents real estate investments for which we have recorded an impairment loss during 2012.

On a non-recurring basis, we evaluate the carrying value of investment property and investments in and advances to unconsolidated joint ventures, when events or changes in circumstances indicate that the carrying value may not be recoverable. Impairments, if any, typically result from values established by Level 3 valuations. The carrying value is considered impaired when the total projected undiscounted cash flows from such asset is separately identifiable and is less than its carrying value. In that event, a loss is recognized based on the amount by which the carrying value exceeds the fair value of the asset as determined by purchase price offers or by discounted cash flows using the income or market approach. These cash flows are comprised of unobservable inputs which include contractual rental revenue and forecasted rental revenue and expenses based upon market conditions and expectations for growth. Capitalization rates and discount rates utilized in these models are based upon observable rates that we believe to be within a reasonable range of current market rates for the respective properties. Based on these inputs, we determined that the valuation of these investment properties and investments is classified within Level 3 of the fair value hierarchy.

During the years ended December 31, 2012 and 2011, we recognized $740,000 and $11.8 million, respectively, of impairment losses on certain development projects for which management's development intentions changed. We did not recognize any impairment losses on development projects during the year ended December 31, 2010.

During the year ended December 31, 2012, we recognized impairment losses of $6.7 million related to four properties held for sale (one in the South Florida region and three in the Southeast region), which are included in discontinued operations in the accompanying consolidated statement of operations. The estimated fair values related to the impairment assessment for the property in the South Florida region and two of the properties in the Southeast region were based upon the expected sales prices as determined by executed contracts after adjusting for estimated costs to sell and, therefore, are classified within Level 2 of the fair value hierarchy. The estimated fair value related to the impairment assessment for the third property in the Southeast region was primarily based on a broker opinion and, therefore, is classified within Level 3 of the fair value hierarchy. During the year ended December 31, 2011, we recognized impairment losses of $36.8 million related to properties held for sale based on executed sales contracts. We did not recognize any impairment losses on properties held for sale during the year ended December 31, 2010.

During the years ended December 31, 2012 and 2011, we recognized $21.5 million and $6.4 million, respectively, of impairment losses on operating properties located in secondary markets for which our anticipated holding periods were reconsidered and for which leasing of significant vacant spaces has been difficult. The impairment and results of operations for these properties are included in the Southeast and North Florida regions. The analysis in 2012 and 2011 included an assessment of the plans for each property. Based on this analysis, it was determined that there is an the increased likelihood that holding periods for certain properties may be shorter than previously estimated due to management’s updated disposition plans. The expected cash flows considered the estimated holding period of the assets and the exit price in the event of a disposition. We did not recognize any impairment losses on operating properties during the year ended December 31, 2010.

We also perform annual, or more frequent in certain circumstances, impairment tests of our goodwill. Impairments, if any, result from values established by Level 3 valuations. We estimate the fair value of the reporting unit using discounted projected future cash flows, which approximate a current sales price. If the results of this analysis indicate that the carrying value of the reporting unit exceeds its fair value, impairment is recorded to reduce the carrying value to fair value. Goodwill impairment losses for the years ended December 31, 2012, 2011 and 2010 were $525,000, $2.4 million and $687,000 respectively.

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25. Fair Value of Financial Instruments

The estimated fair values of financial instruments have been determined by us using available market information and appropriate valuation methods. Considerable judgment is required in interpreting market data to develop the estimates of fair value. Accordingly, the estimates presented herein are not necessarily indicative of the amounts that we could realize in a current market exchange. The use of different market assumptions and/or estimation methods may have a material effect on the estimated fair value amounts. We have used the following market assumptions and/or estimation methods:

Cash and Cash Equivalents and Accounts and Other Receivables (classified within levels 1, 2 and 3 of the valuation hierarchy) – The carrying amounts reported in the balance sheets for these financial instruments approximate fair value because of their short maturities.

Loans Receivable (classified within Level 2 of the valuation hierarchy) – The fair value estimated at December 31, 2012 and 2011 was approximately $142.2 million and $45.0 million, respectively. The fair value is estimated by using a discounted cash flow analysis based on the current interest rates at which similar loans would be made. The carrying amount of these loans receivable, including accrued interest and loan costs, was $140.7 million and $45.3 million at December 31, 2012 and 2011, respectively.

Mortgage Notes Payable (classified within Level 2 of the valuation hierarchy) – The fair value estimated at December 31, 2012 and 2011 was approximately $494.4 million and $545.6 million, respectively, calculated based on the net present value of payments over the term of the loans using estimated market rates for similar mortgage loans and remaining terms. The carrying amount of these notes, including notes associated with properties held for sale, was $451.1 million and $509.6 million at December 31, 2012 and 2011, respectively.

Unsecured Senior Notes Payable (classified within Level 2 of the valuation hierarchy) – The fair value estimated at December 31, 2012 and 2011 was approximately $765.1 million and $725.9 million, respectively, calculated based on the net present value of payments over the terms of the notes using estimated market rates for similar notes and remaining terms. The carrying amount of these notes was $729.1 million and $688.8 million at December 31, 2012 and 2011, respectively.

Term Loan (classified within Level 2 of the valuation hierarchy) – The fair value estimated at December 31, 2012 was $255.2 million, calculated based on the net present value of payments over the term of the loan using estimated market rates for similar notes and remaining terms. The carrying amount of this loan was approximately $250.0 million at December 31, 2012.

The fair market value calculation of our debt as of December 31, 2012 includes assumptions as to the effects that prevailing market conditions would have on existing secured or unsecured debt. The calculation uses a market rate spread over the risk free interest rate. This spread is determined by using the weighted average life to maturity coupled with loan-to-value considerations of the respective debt. Once determined, this market rate is used to discount the remaining debt service payments in an attempt to reflect the present value of this stream of cash flows. While the determination of the appropriate market rate is subjective in nature, recent market data gathered suggest that the composite rates used for mortgages, senior notes and term loans are consistent with current market trends.

Interest Rate Swap Agreements (classified within Level 2 of the valuation hierarchy) – The fair value of our interest rate swaps at December 31, 2012 was a liability of $7.0 million. See Note 24 above for a discussion of the method used to value the interest rate swaps.

Redeemable Noncontrolling Interests (classified within Level 3 of the valuation hierarchy) – The carrying amount of the redeemable noncontrolling interestsof $22.6 million and $22.8 million at December 31, 2012 and 2011, respectively, approximates their fair value. The valuation method used to estimate fair value of redeemable noncontrolling interests is based on discounted cash flow analyses.

Investments In and Advances to Unconsolidated Joint Ventures (classified within Level 3 of the valuation hierarchy) – The carrying amount of the investments in and advances to unconsolidated joint ventures of $72.2 million and $50.2 million at December 31, 2012 and 2011, respectively, approximates its fair value as determined by discounted cash flow analyses.

116

26. Condensed Consolidating Financial Information

Many of our subsidiaries have guaranteed our indebtedness under the unsecured senior notes and the revolving credit facilities. The guarantees are joint and several and full and unconditional. The following statements set forth consolidating financial information with respect to guarantors of our unsecured senior notes:

Condensed Consolidating Balance Sheet As of December 31, 2012	Equity One, Inc.			Combined Guarantor Subsidiaries			Non- Guarantor Subsidiaries		Eliminating Entries			Consolidated
	(In thousands)
ASSETS
Properties, net	$	264,506		$	1,338,620		$	1,403,243	$	(133	)	$	3,006,236
Investment in affiliates	1,228,310			—			—		(1,228,310		)	—
Other assets	354,460			79,369			855,396		(792,793		)	496,432
Total Assets	$	1,847,276		$	1,417,989		$	2,258,639	$	(2,021,236	)	$	3,502,668
LIABILITIES
Mortgage notes payable	$	—		$	57,979		$	381,177	$	—		$	439,156
Unsecured senior notes payable	731,136			—			—		—			731,136
Other notes payable	600,000			93,600			67,000		(760,600		)	—
Term loan	250,000			—			—		—			250,000
Unsecured revolving credit facilities	172,000			—			—		—			172,000
Unamortized/unaccreted (discount) premium on notes payable	(2,006		)	(151		)	9,215		—			7,058
Other liabilities	18,646			112,510			163,056		(21,249		)	272,963
Liabilities associated with properties held    for sale	3,057			268			—		—			3,325
Total Liabilities	1,772,833			264,206			620,448		(781,849		)	1,875,638
REDEEMABLE NONCONTROLLING    INTERESTS	—			—			—		22,551			22,551
EQUITY	74,443			1,153,783			1,638,191		(1,261,938		)	1,604,479
TOTAL LIABILITIES, REDEEMABLE    NONCONTROLLING INTERESTS    AND EQUITY	$	1,847,276		$	1,417,989		$	2,258,639	$	(2,021,236	)	$	3,502,668

117

Condensed Consolidating Balance Sheet As of December 31, 2011	Equity One, Inc.			Combined Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminating Entries			Consolidated
	(In thousands)
ASSETS
Properties, net	$	269,728		$	1,297,302	$	1,242,139	$	(46	)	$	2,809,123
Investment in affiliates	1,228,310			—		—		(1,228,310		)	—
Other assets	344,587			52,200		855,502		(838,841		)	413,448
Total Assets	$	1,842,625		$	1,349,502	$	2,097,641	$	(2,067,197	)	$	3,222,571
LIABILITIES
Mortgage notes payable	$	17,525		$	39,327	$	402,825	$	—		$	459,677
Unsecured senior notes payable	691,136			—		—		—			691,136
Other notes payable	600,000			93,600		67,000		(760,600		)	—
Unsecured revolving credit facilities	138,000			—		—		—			138,000
Unamortized/unaccreted (discount) premium on notes payable	(2,718		)	296		10,318		—			7,896
Other liabilities	20,362			102,146		145,883		(30,820		)	237,571
Liabilities associated with properties held    for sale	11,400			1,298		27,587		—			40,285
Total Liabilities	1,475,705			236,667		653,613		(791,420		)	1,574,565
REDEEMABLE NONCONTROLLING    INTERESTS	—			—		—		22,804			22,804
EQUITY	366,920			1,112,835		1,444,028		(1,298,581		)	1,625,202
TOTAL LIABILITIES, REDEEMABLE    NONCONTROLLING INTERESTS AND    EQUITY	$	1,842,625		$	1,349,502	$	2,097,641	$	(2,067,197	)	$	3,222,571

Condensed Consolidating Statement of Comprehensive (Loss) Income for the year ended December 31, 2012	Equity One Inc.			Combined Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminating Entries			Consolidated
	(In thousands)
Total revenue	$	33,189		$	156,774		$	136,036		$	(388	)	$	325,611
Equity in subsidiaries' earnings	115,148			—			—			(115,148		)	—
Total costs and expenses	48,931			83,820			83,997			(623		)	216,125
INCOME BEFORE OTHER INCOME AND EXPENSE, TAX AND DISCONTINUED OPERATIONS	99,406			72,954			52,039			(114,913		)	109,486
Other income and expenses	(103,061		)	(19,219		)	4,402			(866		)	(118,744		)
(LOSS) INCOME FROM CONTINUING    OPERATIONS BEFORE TAX AND    DISCONTINUED OPERATIONS	(3,655		)	53,735			56,441			(115,779		)	(9,258		)
Income tax (expense) benefit of taxable REIT    subsidiaries	—			(262		)	2,765			—			2,503
(LOSS) INCOME FROM CONTINUING    OPERATIONS	(3,655		)	53,473			59,206			(115,779		)	(6,755		)
Income (loss) from discontinued operations	636			(1,226		)	14,188			382			13,980
NET (LOSS) INCOME	(3,019		)	52,247			73,394			(115,397		)	7,225
Other comprehensive (loss) income	(6,889		)	—			458			—			(6,431		)
COMPREHENSIVE (LOSS) INCOME	(9,908		)	52,247			73,852			(115,397		)	794
Comprehensive income attributable to noncontrolling interests	—			—			(10,702		)	—			(10,702		)
COMPREHENSIVE (LOSS) INCOME     ATTRIBUTABLE TO EQUITY ONE, INC.	$	(9,908	)	$	52,247		$	63,150		$	(115,397	)	$	(9,908	)

118

Condensed Consolidating Statement of Comprehensive Income for the year ended December 31, 2011	Equity One Inc.			Combined Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminating Entries			Consolidated
	(In thousands)
Total revenue	$	32,901		$	149,164		$	98,143		$	—		$	280,208
Equity in subsidiaries' earnings	138,930			—			—			(138,930		)	—
Total costs and expenses	51,728			85,259			72,411			2,150			211,548
INCOME BEFORE OTHER INCOME AND EXPENSE, TAX AND DISCONTINUED OPERATIONS	120,103			63,905			25,732			(141,080		)	68,660
Other income and expenses	(94,795		)	(25,032		)	77,086			(4,084		)	(46,825		)
INCOME FROM CONTINUING    OPERATIONS BEFORE TAX AND    DISCONTINUED OPERATIONS	25,308			38,873			102,818			(145,164		)	21,835
Income tax benefit of taxable REIT subsidiaries	—			2,723			2,341			—			5,064
INCOME FROM CONTINUING    OPERATIONS	25,308			41,596			105,159			(145,164		)	26,899
Income (loss) from discontinued operations	8,664			43,005			(93,479		)	58,129			16,319
NET INCOME	33,972			84,601			11,680			(87,035		)	43,218
Other comprehensive income	64			—			351			—			415
COMPREHENSIVE INCOME	34,036			84,601			12,031			(87,035		)	43,633
Comprehensive income attributable to noncontrolling interests	—			—			(9,597		)	—			(9,597		)
COMPREHENSIVE INCOME     ATTRIBUTABLE TO EQUITY ONE, INC.	$	34,036		$	84,601		$	2,434		$	(87,035	)	$	34,036

Condensed Consolidating Statement of Comprehensive Income for the year ended December 31, 2010	Equity One Inc.			Combined Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminating Entries			Consolidated
	(In thousands)
Total revenue	$	33,618		$	146,048		$	38,445		$	(102	)	$	218,009
Equity in subsidiaries' earnings	71,387			—			—			(71,387		)	—
Total costs and expenses	49,472			75,360			23,588			1,827			150,247
INCOME BEFORE OTHER INCOME AND EXPENSE, TAX AND DISCONTINUED OPERATIONS	55,533			70,688			14,857			(73,316		)	67,762
Other income and expenses	(33,700		)	(13,466		)	(11,684		)	(4,490		)	(63,340		)
INCOME FROM CONTINUING    OPERATIONS BEFORE TAX AND    DISCONTINUED OPERATIONS	21,833			57,222			3,173			(77,806		)	4,422
Income tax (expense) benefit of taxable REIT    subsidiaries	(199		)	752			1,171			—			1,724
INCOME FROM CONTINUING    OPERATIONS	21,634			57,974			4,344			(77,806		)	6,146
Income (loss) from discontinued operations	2,457			10,854			(1,475		)	6,437			18,273
NET INCOME	24,091			68,828			2,869			(71,369		)	24,419
Other comprehensive loss	(282		)	—			(1,021		)	—			(1,303		)
COMPREHENSIVE INCOME	23,809			68,828			1,848			(71,369		)	23,116
Comprehensive loss attributable to    noncontrolling interests	—			—			693			—			693
COMPREHENSIVE INCOME     ATTRIBUTABLE TO EQUITY ONE, INC.	$	23,809		$	68,828		$	2,541		$	(71,369	)	$	23,809

119

Condensed Consolidating Statement of Cash Flows for the year ended December 31, 2012	Equity One, Inc.			Combined Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidated
	(In thousands)
Net cash (used in) provided by operating activities	$	(121,293	)	$	108,376		$	166,136		$	153,219
INVESTING ACTIVITIES:
Acquisition of income producing properties	—			(73,235		)	(170,314		)	(243,549		)
Additions to income producing properties	(4,853		)	(12,324		)	(2,998		)	(20,175		)
Acquisition of land held for development	—			(9,505		)	—			(9,505		)
Additions to construction in progress	(682		)	(63,683		)	(778		)	(65,143		)
Proceeds from sale of real estate and rental properties	1,417			15,342			25,235			41,994
Decrease in cash held in escrow	90,846			—			746			91,592
Increase in deferred leasing costs and lease intangibles	(1,739		)	(3,344		)	(2,086		)	(7,169		)
Investment in joint ventures	—			—			(26,392		)	(26,392		)
Repayments of advances to joint ventures	—			—			517			517
Distributions from joint ventures	—			—			567			567
Investment in loans receivable	(114,258		)	—			—			(114,258		)
Repayment of loans receivable	19,258			—			—			19,258
Advances to subsidiaries, net	(107,328		)	56,135			51,193			—
Net cash used in investing activities	(117,339		)	(90,614		)	(124,310		)	(332,263		)
FINANCING ACTIVITIES:
Repayments of mortgage notes payable	(6,585		)	(17,762		)	(41,826		)	(66,173		)
Net borrowings under revolving credit facilities	34,000			—			—			34,000
Proceeds from senior debt borrowings	296,823			—			—			296,823
Repayment of senior debt borrowings	(287,840		)	—			—			(287,840		)
Proceeds from issuance of common stock	85,838			—			—			85,838
Borrowings under term loan	250,000			—			—			250,000
Payment of deferred financing costs	(3,251		)	—			—			(3,251		)
Stock issuance costs	(883		)	—			—			(883		)
Dividends paid to stockholders	(102,078		)	—			—			(102,078		)
Distributions to noncontrolling interests	(9,995		)	—			—			(9,995		)
Distributions to redeemable noncontrolling interests	(944		)	—			—			(944		)
Net cash provided by (used in) financing activities	255,085			(17,762		)	(41,826		)	195,497
Net increase in cash and cash equivalents	16,453			—			—			16,453
Cash and cash equivalents at beginning of the year	10,963			—			—			10,963
Cash and cash equivalents at end of the year	$	27,416		$	—		$	—		$	27,416

120

Condensed Consolidating Statement of Cash Flows for the year ended December 31, 2011	Equity One, Inc.			Combined Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidated
	(In thousands)
Net cash provided by (used in) operating activities	$	98,588		$	27,461		$	(23,423	)	$	102,626
INVESTING ACTIVITIES:
Acquisition of income producing properties	(55,000		)	(55,500		)	(168,580		)	(279,080		)
Additions to income producing properties	(2,296		)	(11,377		)	(2,723		)	(16,396		)
Additions to construction in progress	(2,339		)	(40,376		)	(382		)	(43,097		)
Proceeds from sale of real estate and rental properties	3,206			11,705			384,485			399,396
Increase in cash held in escrow	(91,591		)	—			—			(91,591		)
Investment in loans receivable	(45,100		)	—			—			(45,100		)
Increase in deferred leasing costs and lease intangibles	(1,416		)	(4,142		)	(1,596		)	(7,154		)
Investment in joint ventures	—			—			(15,024		)	(15,024		)
Repayments of advances to joint ventures	—			—			34,887			34,887
Distributions from joint ventures	—			—			18,786			18,786
Investment in consolidated subsidiary	—			—			(242		)	(242		)
Advances to subsidiaries, net	(67,836		)	161,910			(94,074		)	—
Net cash (used in) provided by investing activities	(262,372		)	62,220			155,537			(44,615		)
FINANCING ACTIVITIES:
Repayments of mortgage notes payable	(1,808		)	(89,681		)	(155,375		)	(246,864		)
Net borrowings under revolving credit facilities	138,000			—			—			138,000
Proceeds from issuance of common stock	116,542			—			—			116,542
Payment of deferred financing costs	(4,888		)	—			(151		)	(5,039		)
Stock issuance costs	(1,185		)	—			—			(1,185		)
Dividends paid to stockholders	(98,842		)	—			—			(98,842		)
Distributions to redeemable noncontrolling interests	(11,405		)	—			—			(11,405		)
Net cash provided by (used in) financing activities	136,414			(89,681		)	(155,526		)	(108,793		)
Net decrease in cash and cash equivalents	(27,370		)	—			(23,412		)	(50,782		)
Cash and cash equivalents obtained through acquisition	—			—			23,412			23,412
Cash and cash equivalents at beginning of the year	38,333			—			—			38,333
Cash and cash equivalents at end of the year	$	10,963		$	—		$	—		$	10,963

121

Condensed Consolidating Statement of Cash Flows for the year ended December 31, 2010	Equity One, Inc.			Combined Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidated
Net cash (used in) provided by operating activities	$	(176,475	)	$	92,438		$	155,599		$	71,562
INVESTING ACTIVITIES:
Acquisition of income producing properties	—			(67,720		)	(40,376		)	(108,096		)
Additions to income producing properties	(1,853		)	(4,266		)	(3,738		)	(9,857		)
Additions to construction in progress	(4,432		)	(4,280		)	(1,202		)	(9,914		)
Acquisition of land held for development	(1,337		)	—			—			(1,337		)
Proceeds from sale of real estate and rental properties	1,861			1,447			1,009			4,317
Increase in deferred leasing costs and lease intangibles	(1,667		)	(2,082		)	(1,012		)	(4,761		)
Investment in joint ventures	—			—			(13,927		)	(13,927		)
Investment in consolidated subsidiary	(13,437		)	—			—			(13,437		)
Advances to joint ventures	—			—			(33,417		)	(33,417		)
Distributions from joint ventures	—			—			345			345
Proceeds from sale of securities	841			—			—			841
Advances to subsidiaries, net	16,488			34,939			(51,427		)	—
Net cash used in investing activities	(3,536		)	(41,962		)	(143,745		)	(189,243		)
FINANCING ACTIVITIES:
Repayment of mortgage notes payable	(12,825		)	(50,222		)	(11,710		)	(74,757		)
Proceeds from issuance of common stock	270,698			—			—			270,698
Payment of deferred financing costs	(569		)	(254		)	(144		)	(967		)
Stock issuance costs	(3,319		)	—			—			(3,319		)
Dividends paid to stockholders	(83,611		)	—			—			(83,611		)
Net cash provided by (used in) financing activities	170,374			(50,476		)	(11,854		)	108,044
Net decrease in cash and cash equivalents	(9,637		)	—			—			(9,637		)
Cash and cash equivalents at beginning of the year	47,970			—			—			47,970
Cash and cash equivalents at end of the year	$	38,333		$	—		$	—		$	38,333

27. Quarterly Financial Data (unaudited)

	First    Quarter (1)		Second    Quarter (1)		Third     Quarter (1)		Fourth        Quarter (1)(2)
2012	(in thousands, except per share data)
Total revenue	$	78,952	$	80,048	$	81,485	$	85,126
Income (loss) from continuing operations	$	8,374	$	5,301	$	11,825	$	(32,255	)
Net income (loss)	$	21,695	$	5,021	$	10,801	$	(30,292	)
Net income (loss) available to common shareholders	$	18,982	$	2,268	$	8,065	$	(32,792	)
Basic per share data
Income (loss) from continuing operations	$	0.05	$	0.02	$	0.08	$	(0.30	)
Net income (loss)	$	0.16	$	0.02	$	0.07	$	(0.28	)
Diluted per share data
Income (loss) from continuing operations	$	0.05	$	0.02	$	0.08	$	(0.30	)
Net income (loss)	$	0.16	$	0.02	$	0.07	$	(0.28	)

^{_______________________________________________} 

⁽¹⁾  Reclassified to reflect the reporting of discontinued operations. Note that the sum of the individual quarters per share data may not foot to the year-to-date totals due to the rounding of the individual calculations.

⁽²⁾  During the fourth quarter of 2012, we recognized a loss on early extinguishment of debt of $30.2 million (including $1.1 million in discontinued operations), primarily comprised of a make-whole premium and deferred fees and costs of $29.6 million associated with the redemption of all of our $250 million6.25% unsecured senior notes, which were scheduled to mature on December 15, 2014. Additionally, during the fourth quarter of 2012, we recognized impairment losses of $18.8 million in continuing operations and $798,000 in discontinued operations. See Note 7 for further discussion of impairments.

122

	First Quarter (1)(2)		Second     Quarter (1)		Third         Quarter (1)(3)			Fourth      Quarter (1)
2011
Total revenue	$	68,220	$	70,681	$	68,350		$	72,957
Income (loss) from continuing operations	$	32,320	$	5,354	$	(8,216	)	$	(2,559	)
Net income (loss)	$	37,377	$	9,121	$	(2,209	)	$	(1,071	)
Net income (loss) available to common stockholders	$	34,994	$	6,986	$	(4,657	)	$	(3,702	)
Basic per share data
Income (loss) from continuing operations	$	0.28	$	0.03	$	(0.10	)	$	(0.05	)
Net income (loss)	$	0.33	$	0.06	$	(0.04	)	$	(0.04	)
Diluted per share data
Income from continuing operations	$	0.27	$	0.03	$	(0.10	)	$	(0.05	)
Net income (loss)	$	0.32	$	0.06	$	(0.04	)	$	(0.04	)

^{_______________________________________________} 

⁽¹⁾  Reclassified to reflect the reporting of discontinued operations. Note that the sum of the individual quarters per share data may not foot to the year-to-date totals due to the rounding of the individual calculations.

⁽²⁾  During the first quarter of 2011, we recognized a gain on bargain purchase of $30.6 million related to our CapCo acquisition.

⁽³⁾  During the fourth quarter of 2011, we identified and corrected an immaterial error related to the allocation of earnings between continuing and discontinued operations. Net loss from continuing operations for the third quarter was understated by $1.6 million, or $0.02 per basic and diluted share, and net income from discontinued operations was understated by $1.6 million, or $0.01 per basic and diluted share. Net loss per basic and diluted share were not affected. No other quarters were impacted by the reclassification of earnings between continuing and discontinued operations.

28. Related Parties

Refer to Note 18 for a discussion of the private placements during 2012 and 2011 to MGN (USA), Inc., an affiliate of our largest stockholder, Gazit.

We received rental income from affiliates of Gazit of approximately $339,000, $271,000 and $324,000 for the years ended December 31, 2012, 2011 and 2010, respectively.

General and administrative expenses incurred by us on behalf of Gazit, which are reimbursed, totaled approximately $758,000, $567,000 and $636,000 for the years ended December 31, 2012, 2011 and 2010, respectively. The balance due from Gazit, which is included in accounts and other receivables, was approximately $476,000 and $126,000 at December 31, 2012 and 2011, respectively. The amount due at December 31, 2012 was paid in full in February 2013.

We reimbursed MGN Icarus, Inc., an affiliate of Gazit, for certain travel expenses incurred by the Chairman of our Board of Directors. The amounts reimbursed totaled approximately $243,000, $137,000 and $346,000 for the years ended December 31, 2012, 2011 and 2010, respectively.

29. Subsequent Events

Pursuant to the Subsequent Events Topic of the FASB ASC, we have evaluated subsequent events and transactions that occurred after our December 31, 2012 consolidated balance sheet date for potential recognition or disclosure in our consolidated financial statements.

Subsequent to year end, we closed on the sale of eight properties located in the Southeast and North Florida regions for a purchase price of $81.3 million and concurrently prepaid $2.8 million in mortgage loans, which bore interest at 6.85%. The operations of these properties are included in discontinued operations in the accompanying consolidated financial statements for all the periods presented and the related assets and liabilities are presented as held for sale in our consolidated balance sheets at December 31, 2012 and 2011.

Subsequent to year end, we entered into a contract to sell one of our operating properties located in the Southeast region. On February 25, 2013, the due diligence period expired and the property met the criteria to be classified as held for sale. As of December 31, 2012, the property had a net book value of $9.7 million. We expect to recognize a gain on sale of the property in the first quarter of 2013.

123

SCHEDULE II

Equity One, Inc.

VALUATION AND QUALIFYING ACCOUNTS

	Balance at beginning of period		Charged to expense		Adjustments to valuation accounts		Deductions			Balance at end of period
	(In thousands)
Year Ended December 31, 2012:
Allowance for doubtful accounts	$	5,265	$	1,054	$	—	$	(3,137	)	$	3,182
Allowance for deferred tax asset	205		8		—		—			213
Year Ended December 31, 2011:
Allowance for doubtful accounts	3,672		2,100		—		(507		)	5,265
Allowance for deferred tax asset	195		10		—		—			205
Year Ended December 31, 2010:
Allowance for doubtful accounts	3,718		1,601		—		(1,647		)	3,672		(1)
Allowance for deferred tax asset	183		12		—		—			195

^{____________________________________} 

⁽¹⁾ Allowance for doubtful accounts balance above excludes allowance for doubtful accounts relating to held for sale assets of $1.2 million at December 31, 2010.

124

SCHEDULE III

Equity One, Inc.

SUMMARY OF REAL ESTATE AND ACCUMULATED DEPRECIATION

December 31, 2012

(in thousands)

				INITIAL COST TO  COMPANY				Capitalized Subsequent to Acquisition or Improvements (1)			GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD
Property	Location	Encumbrances		Land		Building & Improvements					Land		Building & Improvements		Total		Accumulated Depreciation			Date of Construction	Date Acquired
90-30 Metropolitan Avenue	NY	$	—	$	5,105	$	21,378	$	741		$	5,105	$	22,119	$	27,224	$	(737	)	2007	9/1/2011
161 W. 16th Street	NY	—		21,699		40,518		243			21,699		40,761		62,460		(1,301		)	1930	5/16/2011
1175 Third Avenue	NY	7,001		28,282		22,115		(377		)	28,070		21,950		50,020		(1,039		)	1995	9/22/2010
2400 PGA	FL	—		1,418		—		1			1,418		1		1,419		(1		)	n/a	3/20/2006
4101 South I-85 Industrial	NC	—		1,619		950		274			1,619		1,224		2,843		(327		)	1956,1963	2/12/2003
200 Potrero	CA	—		4,778		1,469		—			4,778		1,469		6,247		—			1928	12/27/2012
1225-1239 Second Avenue	NY	16,655		14,253		11,288		—			14,253		11,288		25,541		(61		)	1963	10/5/2012
Alafaya Commons	FL	—		6,858		10,720		1,515			6,858		12,235		19,093		(2,899		)	1987	2/12/2003
Alafaya Village	FL	—		1,444		4,967		673			1,444		5,640		7,084		(1,251		)	1986	4/20/2006
Ambassador Row	LA	—		3,880		10,570		2,329			3,880		12,899		16,779		(2,932		)	1980	2/12/2003
Ambassador Row Courtyard	LA	—		3,110		9,208		2,238			3,110		11,446		14,556		(3,189		)	1986	2/12/2003
Antioch Land	CA	—		7,060		—		(150		)	6,910		—		6,910		—			n/a	1/4/2011
Atlantic Village	FL	—		1,190		4,760		5,179			1,190		9,939		11,129		(2,559		)	1984	6/30/1995
Aventura Square (2)	FL	25,944		46,811		17,851		2,015			45,855		20,822		66,677		(857		)	1991	10/5/2011
Banco Popular Building	FL	—		3,363		1,566		622			3,363		2,188		5,551		(569		)	1971	9/27/2005
Beauclerc Village	FL	—		651		2,242		1,576			651		3,818		4,469		(1,955		)	1962	5/15/1998
Bird Ludlum	FL	—		4,088		16,318		1,550			4,088		17,868		21,956		(8,277		)	1988	8/11/1994
Bluebonnet Village	LA	—		2,290		4,168		2,134			2,290		6,302		8,592		(1,531		)	1983	2/12/2003
Bluffs Square Shoppes	FL	—		3,232		9,917		832			3,232		10,749		13,981		(4,101		)	1986	8/15/2000
Boca Village	FL	—		3,385		10,174		2,423			3,385		12,597		15,982		(2,554		)	1978	8/15/2000
Boynton Plaza	FL	—		2,943		9,100		708			2,943		9,808		12,751		(3,568		)	1978	8/15/2000
Brawley Commons	NC	6,534		4,206		11,556		(7,682		)	4,206		3,874		8,080		(1,274		)	1997	12/31/2008
BridgeMill	GA	7,528		8,593		6,310		697			8,593		7,007		15,600		(2,020		)	2000	11/13/2003
Broadway Plaza - land	NY	—		7,500		—		2,219			9,719		—		9,719		—			n/a	6/8/2012
Broadway Plaza - land outparcel	NY	—		2,000		—		236			2,236		—		2,236		—			n/a	10/1/2012
Brookside Plaza	CT	—		2,291		26,260		7,680			2,291		33,940		36,231		(6,584		)	1985	1/12/2006
Buckhead Station	GA	24,166		27,138		45,277		2,036			27,138		47,313		74,451		(7,707		)	1996	3/9/2007
Butler Creek	GA	—		2,808		7,648		(1,169		)	9,287		—		9,287		—			1990	7/15/2003
Canyon Trails	AZ	—		12,087		11,168		(1,889		)	12,087		9,279		21,366		(1,255		)	2008	12/30/2010
Cashmere Corners	FL	—		1,947		5,707		(78		)	1,947		5,629		7,576		(1,665		)	2001	8/15/2000
Centre Pointe Plaza	NC	—		2,081		4,411		1,174			2,081		5,585		7,666		(1,482		)	1989	2/12/2003
Chapel Trail Plaza	FL	—		3,641		5,777		3,027			3,641		8,804		12,445		(2,127		)	2007	5/10/2006
Charlotte Square	FL	—		4,155		4,414		105			4,155		4,519		8,674		(1,192		)	1980	2/12/2003
Chastain Square	GA	—		10,689		5,937		721			10,689		6,658		17,347		(1,658		)	1981	2/12/2003
Chestnut Square	NC	—		1,189		1,326		3,563			1,189		4,889		6,078		(810		)	1985	2/12/2003
Circle Center West	CA	—		10,800		10,340		667			10,800		11,007		21,807		(863		)	1989	3/15/2011
Clocktower Plaza Shopping Center	NY	—		25,184		19,462		—			25,184		19,462		44,646		(180		)	1985	2/12/2003
Compo Acres Shopping Center	CT	—		18,305		12,195		66			18,305		12,261		30,566		(350		)	1960	3/1/2012
Copps Hill Plaza	CT	18,109		14,146		24,626		104			14,198		24,678		38,876		(2,627		)	2002	3/31/2010
Coral Reef Shopping Center	FL	—		16,464		4,376		1,627			17,515		4,952		22,467		(887		)	1968	9/1/2006
Country Club Plaza	LA	—		1,294		2,060		13			1,294		2,073		3,367		(513		)	1982	2/12/2003
Countryside Shops	FL	—		11,343		13,853		3,320			11,343		17,173		28,516		(4,227		)	1986	2/12/2003

125

				INITIAL COST TO  COMPANY				Capitalized Subsequent to Acquisition or Improvements (1)			GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD
Property	Location	Encumbrances		Land		Building & Improvements					Land		Building & Improvements		Total		Accumulated Depreciation			Date of Construction	Date Acquired
Crossroads Square	FL	$	—	$	3,592	$	4,401	$	6,112		$	3,520	$	10,585	$	14,105	$	(2,703	)	1973	8/15/2000
Culver Center	CA	64,000		74,868		59,958		4,035			75,214		63,647		138,861		(1,988		)	2000	11/16/2011
CVS Plaza	FL	—		657		2,803		1,314			657		4,117		4,774		(893		)	2004	7/23/1999
Danbury Green	CT	24,700		17,547		21,560		8,400			18,143		29,364		47,507		(1,685		)	2006	10/27/2011
Daniel Village	GA	—		3,439		8,352		158			3,439		8,510		11,949		(2,113		)	1956	2/12/2003
Danville – San Ramon Medical	CA	13,401		11,088		4,171		858			11,088		5,029		16,117		(929		)	1982	1/4/2011
Darinor Plaza	CT	18,658		—		16,991		—			—		16,991		16,991		(317		)	1978	8/28/2012
Douglas Commons	GA	—		3,681		7,588		220			3,681		7,808		11,489		(1,998		)	1988	2/12/2003
El Novillo	FL	—		250		1,000		162			250		1,162		1,412		(416		)	1970	4/30/1998
Elmwood Oaks	LA	—		4,088		8,221		705			4,088		8,926		13,014		(2,452		)	1989	2/12/2003
Fairview Oaks	GA	—		1,929		6,187		87			8,203		—		8,203		—			1997	2/12/2003
Forest Village	FL	—		3,397		3,206		2,347			3,397		5,553		8,950		(1,701		)	2000	1/28/1999
Ft. Caroline	FL	—		701		2,800		735			700		3,535		4,235		(1,622		)	1985	1/24/1994
Galleria	NC	—		1,493		3,875		(1,608		)	3,760		—		3,760		—			1986	2/12/2003
Gateway Plaza at Aventura	FL	—		2,301		5,529		—			2,301		5,529		7,830		(613		)	1991	3/19/2010
Glengary Shoppes	FL	16,079		7,488		13,969		384			7,488		14,353		21,841		(1,711		)	1995	12/31/2008
Grassland Crossing	GA	—		3,656		7,885		(1,469		)	10,072		—		10,072		—			1996	2/12/2003
Greenwood	FL	—		4,117		10,295		2,967			4,117		13,262		17,379		(3,309		)	1982	2/12/2003
Hairston Center	GA	—		1,644		642		28			1,644		670		2,314		(121		)	2000	8/25/2005
Hamilton Ridge	GA	—		5,612		7,167		(898		)	11,881		—		11,881		—			2002	12/18/2003
Hammocks Town Center	FL	—		16,856		11,392		592			16,856		11,984		28,840		(1,370		)	1987	12/31/2008
Hampton Oaks	GA	—		835		—		1,557			1,172		1,221		2,393		(266		)	2009	11/30/2006
Homestead Gas Station	FL	—		1,170		—		100			1,170		100		1,270		(6		)	1959	11/8/2004
Kirkman Shoppes	FL	—		3,222		9,714		325			3,222		10,039		13,261		(3,743		)	1973	8/15/2000
Lago Mar	FL	—		4,216		6,609		1,221			4,216		7,830		12,046		(1,956		)	1995	2/12/2003
Lake Mary	FL	—		7,092		13,878		8,092			7,092		21,970		29,062		(8,696		)	1988	11/9/1995
Lantana Village	FL	—		1,350		7,978		927			1,350		8,905		10,255		(3,139		)	1976	1/6/1998
Laurel Walk House	NC	—		105		111		—			105		111		216		(20		)	1985	10/31/2005
Lutz Lake	FL	—		3,619		5,199		1,159			3,619		6,358		9,977		(1,586		)	2002	2/12/2003
Mableton Crossing	GA	—		3,331		6,403		(1,180		)	8,555		—		8,555		—			1997	2/12/2003
Macland Pointe	GA	—		3,462		4,814		(894		)	7,382		—		7,382		—			1992	2/12/2003
Madison Centre	AL	—		1,424		5,187		23			1,424		5,210		6,634		(1,859		)	1997	2/12/2003
Magnolia Shoppes	FL	13,807		7,176		10,886		487			7,176		11,373		18,549		(1,317		)	1998	12/31/2008
Mandarin Landing	FL	—		4,443		4,747		11,361			4,443		16,108		20,551		(4,155		)	1976	12/10/1999
Mariners Crossing	FL	—		1,262		4,447		2,869			1,511		7,067		8,578		(1,895		)	1989	9/12/2000
Market Place	GA	—		1,667		4,078		106			1,577		4,274		5,851		(1,077		)	1976	2/12/2003
Marketplace Shopping Center	CA	16,164		8,727		22,188		2,095			8,737		24,273		33,010		(1,360		)	1990	1/4/2011
McAlpin Square	GA	—		3,536		6,963		328			3,536		7,291		10,827		(2,009		)	1979	2/12/2003
Meadows	FL	—		2,304		6,670		202			2,304		6,872		9,176		(1,895		)	1997	5/23/2002
Medical & Merchants	FL	—		10,323		12,174		(9,184		)	10,323		2,989		13,312		(3,018		)	1993	5/27/2004
Middle Beach Shopping Center	FL	—		2,195		5,542		(3,948		)	871		2,918		3,789		(1,217		)	1994	12/23/2003
North Village Center	SC	—		2,860		2,774		(3,154		)	2,480		—		2,480		—			1984	2/12/2003
NSB Regional	FL	—		3,217		8,896		269			3,217		9,165		12,382		(2,270		)	1987	2/12/2003
Oak Hill	FL	—		690		2,760		1,564			690		4,324		5,014		(1,472		)	1985	12/7/1995
Oakbrook Square (2)	FL	—		7,706		16,079		4,215			7,706		20,294		28,000		(5,883		)	1974	8/15/2000
Oaktree Plaza	FL	—		1,589		2,275		283			1,589		2,558		4,147		(443		)	1985	10/16/2006

126

			INITIAL COST TO  COMPANY		Capitalized Subsequent to Acquisition or Improvements (1)		GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD
Property	Location	Encumbrances	Land	Building & Improvements			Land	Building & Improvements	Total	Accumulated Depreciation		Date of Construction	Date Acquired
Old Kings Commons	FL	—	1,420	5,005	429		1,420	5,434	6,854	(1,352	)	1988	2/12/2003
Pablo Plaza	FL	—	5,327	12,676	379		5,424	12,958	18,382	(1,583	)	1973	8/31/2010
Park Promenade	FL	—	2,670	6,444	345		2,670	6,789	9,459	(2,510	)	1987	1/31/1999
Paulding Commons	GA	—	3,848	11,985	4,784		3,848	16,769	20,617	(3,263	)	1991	2/12/2003
Pavilion	FL	—	10,827	11,299	6,575		10,827	17,874	28,701	(3,914	)	1982	2/4/2004
Piedmont Peachtree Crossing	GA	—	34,338	17,992	830		34,338	18,822	53,160	(3,717	)	1978	3/6/2006
Pine Island	FL	—	8,557	12,860	2,467		8,557	15,327	23,884	(4,862	)	1983	8/26/1999
Pine Ridge Square	FL	—	6,528	9,850	6,657		6,528	16,507	23,035	(2,909	)	1986	2/12/2003
Plaza Acadienne	LA	—	2,108	168	159		2,108	327	2,435	(74	)	1980	2/12/2003
Plaza Alegre	FL	—	2,011	9,191	217		1,866	9,553	11,419	(3,499	)	2003	2/26/2002
Plaza Escuela	CA	—	10,041	63,038	1,175		10,041	64,213	74,254	(2,726	)	2002	1/4/2011
Point Royale	FL	—	3,720	5,005	3,338		4,784	7,279	12,063	(3,053	)	1970	7/27/1995
Post Road Plaza	CT	—	9,807	2,707	—		9,807	2,707	12,514	(116	)	1978	3/1/2012
Potrero Center	CA	—	48,594	74,701	55		48,594	74,756	123,350	(1,802	)	1968	3/1/2012
Powers Ferry Plaza	GA	—	3,236	5,227	548		3,236	5,775	9,011	(1,790	)	1979	2/12/2003
Prosperity Centre	FL	—	4,597	13,838	956		4,597	14,794	19,391	(4,864	)	1993	8/15/2000
Providence Square	NC	—	1,112	2,575	(1,092	)	567	2,028	2,595	(788	)	1973	2/12/2003
Quincy Star Market	MA	—	6,121	18,444	—		6,121	18,444	24,565	(4,091	)	1965	10/7/2004
Ralph’s Circle Center	CA	—	9,833	5,856	890		9,833	6,746	16,579	(462	)	1983	7/14/2011
Regency Crossing	FL	—	1,982	6,524	102		1,982	6,626	8,608	(1,692	)	1986	2/12/2003
Ridge Plaza	FL	—	3,905	7,450	1,659		3,905	9,109	13,014	(3,217	)	1984	8/15/2000
River Green (land)	GA	—	2,587	—	(1,087	)	695	805	1,500	—		n/a	9/27/2005
Riverside Square	FL	—	6,423	8,260	389		5,623	9,449	15,072	(2,417	)	1987	2/12/2003
Riverview Shopping Center	NC	—	2,202	4,745	2,167		2,202	6,912	9,114	(1,610	)	1973	2/12/2003
Ryanwood Square	FL	—	2,281	6,880	1,044		2,608	7,597	10,205	(2,117	)	1987	8/15/2000
Salerno Village Square	FL	—	2,291	1,511	5,242		2,291	6,753	9,044	(1,533	)	1987	5/6/2002
Sawgrass Promenade	FL	—	3,280	9,351	2,314		3,280	11,665	14,945	(4,239	)	1982	8/15/2000
Serramonte Shopping Center	CA	—	81,049	119,765	15,087		80,999	134,902	215,901	(10,527	)	1968	1/4/2011
Seven Hills	FL	—	2,167	5,167	638		2,167	5,805	7,972	(1,345	)	1991	2/12/2003
Shaw’s @ Medford	MA	—	7,750	11,390	—		7,750	11,390	19,140	(2,515	)	1995	10/7/2004
Shaw’s @ Plymouth	MA	—	4,917	12,199	—		4,917	12,199	17,116	(2,691	)	1993	10/7/2004
Sheridan Plaza	FL	61,488	38,888	36,241	6,561		38,888	42,802	81,690	(10,710	)	1973	7/14/2003
Sherwood South	LA	—	746	2,412	1,068		746	3,480	4,226	(1,130	)	1972	2/12/2003
Shipyard Plaza	MS	—	1,337	1,653	283		1,337	1,936	3,273	(613	)	1987	2/12/2003
Shoppes at Andros Isle	FL	—	6,009	7,832	92		6,009	7,924	13,933	(1,295	)	2000	12/8/2006
Shoppes at Silverlakes	FL	—	10,306	10,131	2,621		10,306	12,752	23,058	(3,084	)	1995	2/12/2003
Shoppes of Eastwood	FL	—	1,688	6,976	(1,774	)	6,890	—	6,890	—		1999	6/28/2002
Shoppes of Jonathan’s Landing	FL	—	1,146	3,442	244		1,146	3,686	4,832	(1,192	)	1997	8/15/2000
Shoppes of North Port	FL	—	1,452	5,807	1,123		1,452	6,930	8,382	(1,930	)	1991	12/5/2000
Shops at Skylake	FL	—	15,226	7,206	24,884		15,226	32,090	47,316	(8,358	)	1999	8/19/1997
Siegen Village	LA	—	4,329	9,691	5		4,329	9,696	14,025	(2,867	)	1988	2/12/2003
Smyth Valley Crossing	VA	—	2,537	3,890	690		2,537	4,580	7,117	(1,003	)	1989	2/12/2003
South Beach	FL	—	9,545	19,228	5,197		9,545	24,425	33,970	(6,398	)	1990	2/12/2003

127

				INITIAL COST TO  COMPANY				Capitalized Subsequent to Acquisition or Improvements (1)			GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD
Property	Location	Encumbrances		Land		Building & Improvements					Land		Building & Improvements			Total			Accumulated Depreciation			Date of Construction	Date Acquired
South Point	FL	6,924		7,142		7,098		76			7,142		7,174			14,316			(1,139		)	2003	12/8/2006
Southbury Green	CT	21,000		18,483		31,857		5,254			18,744		36,850			55,594			(1,578		)	1997	10/27/2011
Spalding Village	GA	—		4,709		4,972		286			4,709		5,258			9,967			(1,636		)	1989	2/12/2003
St. Lucie Land	FL	—		7,728		—		(2,128		)	3,640		1,960			5,600			—			n/a	11/27/2006
Stanley Market Place	NC	—		396		669		4,954			396		5,623			6,019			(924		)	2007	2/12/2003
Star’s at Cambridge	MA	—		11,358		13,854		—			11,358		13,854			25,212			(3,062		)	1953	10/7/2004
Summerlin Square	FL	—		2,187		7,989		(2,995		)	6,472		709			7,181			(258		)	1986	6/10/1998
Sun Point	FL	—		4,025		4,228		1,772			4,025		6,000			10,025			(2,099		)	1984	5/5/2006
Sunlake-Equity One LLC	FL	—		9,861		—		34,610			16,589		27,882			44,471			(1,984		)	2010	2/1/2005
Tamarac Town Square	FL	—		4,742		5,610		751			4,643		6,460			11,103			(1,793		)	1987	2/12/2003
Tarpon Heights	LA	—		1,133		631		223			1,133		854			1,987			(259		)	1982	2/12/2003
TD Bank Skylake	FL	—		2,041		—		453			2,064		430			2,494			(16		)	n/a	12/17/2009
The Boulevard	LA	—		1,360		1,675		628			1,360		2,303			3,663			(782		)	1976	2/12/2003
The Crossing	LA	—		1,591		3,650		789			1,591		4,439			6,030			(1,102		)	1988	2/12/2003
The Gallery at Westbury	NY	—		27,481		3,537		79,966			26,079		84,905			110,984			(510		)	2012	11/16/2009
The Plaza at St. Lucie West	FL	—		790		3,082		964			790		4,046			4,836			(728		)	n/a	8/15/2000
Thomasville Commons	NC	—		1,212		4,567		1,829			1,212		6,396			7,608			(1,567		)	1991	2/12/2003
Town & Country	FL	—		2,503		4,397		277			2,354		4,823			7,177			(1,348		)	1993	2/12/2003
Treasure Coast Plaza (2)	FL	—		1,359		9,728		911			1,359		10,639			11,998			(2,608		)	1983	2/12/2003
Unigold	FL	—		4,304		6,413		1,587			4,304		8,000			12,304			(2,080		)	1987	2/12/2003
Union City Commons (land)	GA	—		8,084		—		(5,509		)	1,754		821			2,575			—			n/a	6/22/2006
Village at Northshore	LA	—		1,034		10,128		195			1,034		10,323			11,357			(2,529		)	1988	2/12/2003
Von's Circle West	CA	10,793		18,219		18,909		2,586			18,274		21,440			39,714			(1,368		)	1972	3/16/2011
Walden Woods	FL	—		950		3,780		1,158			881		5,007			5,888			(2,627		)	1985	1/1/1999
Walton Plaza	GA	—		869		2,827		30			869		2,857			3,726			(717		)	1990	2/12/2003
Waterstone	FL	—		1,422		7,508		328			1,422		7,836			9,258			(1,450		)	2005	4/10/1992
Webster Plaza	MA	7,070		5,033		14,465		1,657			5,033		16,122			21,155			(2,690		)	1963	10/12/2006
Webster Plaza Solar Project	MA	—		—		—		732			—		732			732			(43		)	n/a	n/a
Wesley Chapel Crossing	GA	—		6,389		4,311		4,890			6,389		9,201			15,590			(2,771		)	1989	2/12/2003
West Bird Plaza	FL	—		5,280		12,539		401			5,280		12,940			18,220			(1,183		)	1977	8/31/2010
West Lakes Plaza	FL	—		2,141		5,789		602			2,141		6,391			8,532			(2,634		)	1984	11/6/1996
West Roxbury Shaw's Plaza	MA	—		9,207		13,588		1,967			9,207		15,555			24,762			(3,409		)	1973	10/7/2004
Westbury Plaza	NY	—		37,853		58,273		10,123			40,843		65,406			106,249			(5,871		)	1993	10/29/2009
Westport Outparcels	FL	—		1,347		1,010		5			1,347		1,015			2,362			(168		)	1990	9/14/2006
Westport Plaza	FL	3,890		4,180		3,446		191			4,180		3,637			7,817			(846		)	2002	12/17/2004
Westridge	GA	—		1,696		4,390		652			6,738		—			6,738			—			2006	2/12/2003
Whole Foods at Swampscott	MA	—		5,139		6,539		—			5,139		6,539			11,678			(1,439		)	1967	10/7/2004
Williamsburg at Dunwoody	GA	—		4,347		3,615		839			4,347		4,454			8,801			(1,082		)	1983	2/12/2003
Willowdale Shopping Center	NC	—		1,322		6,078		1,645			1,322		7,723			9,045			(2,398		)	1986	2/12/2003
Willows Shopping Center	CA	55,245		20,999		38,007		5,081			21,037		43,050			64,087			(3,230		)	1977	1/4/2011
Windy Hill	SC	—		987		1,906		(127		)	2,766		—			2,766			—			1968	4/8/2004
Young Circle	FL	—		13,409		8,895		437			13,409		9,332			22,741			(1,856		)	1962	5/19/2005
Corporate	FL	—		—		242		(9,623		)	289		(9,670		)	(9,381		)	132			various	various
		$	439,156	$	1,264,295	$	1,747,160	$	330,643		$	1,315,666	$	2,026,432		$	3,342,098		$	(335,862	)

⁽¹⁾ Includes only asset impairments recognized.

⁽²⁾ Aventura Square encumbrance is cross collateralized with Oakbrook Square and Treasure Coast Plaza.

128

SCHEDULE III

Equity One, Inc.

REAL ESTATE INVESTMENTS AND ACCUMULATED DEPRECIATION

Depreciation and amortization are provided on the straight-line method over the estimated useful lives of the assets as follows:

Buildings	30-55 years
Buildings and land improvements	2-40 years
Tenant improvements	Lesser of minimum lease term or economic useful life
Furniture and equipment	5-7 years

	2012			2011			2010
	(In thousands)
Reconciliation of total real estate carrying value:
Balance at beginning of year	$	3,086,320		$	2,686,610		$	2,486,235
Additions during period:
Improvements	24,022			559,536			23,945
Acquisitions	273,185			944,598			196,756
Deductions during period:
Cost of real estate sold/written off	(41,429		)	(1,104,424		)	(20,326		)
Balance at end of year	$	3,342,098		$	3,086,320		$	2,686,610
Reconciliation of accumulated depreciation:
Balance at beginning of year	$	(277,197	)	$	(228,956	)	$	(193,392	)
Depreciation expense	(66,758		)	(67,876		)	(50,995		)
Cost of real estate sold/written off	8,093			19,635			15,431
Balance at end of year	$	(335,862	)	$	(277,197	)	$	(228,956	)
Aggregate cost for federal income tax purposes	$	2,249,859		$	2,099,729		$	1,936,534

129

SCHEDULE IV

Equity One, Inc.

MORTGAGE LOANS ON REAL ESTATE

Type of Loan	Description	Location	Interest Rate		Final Maturity Date	Periodic Payment Terms	Prior Liens		Face Amount of Mortgages		Carrying Amount of Mortgages
									(In thousands)
Mezzanine Loan	Shopping Center	California	9.21	%	7/9/2016	Interest only	$	—	$	45,000	$	45,223
Mortgage Loan	Retail/Housing	Maryland	5.00	%	1/15/2014	Interest only	—		$	95,000	$	95,485
Totals							$	—	$	140,000	$	140,708

	2012			2011			2010
	(In thousands)
Reconciliation of loans on real estate:
Balance at beginning of year	$	45,279		$	—		$	—
Additions during year:
New loans, including capitalized costs	114,518			45,114			—
Accrued interest	2,277			196			—
	116,795			45,310			—
Deductions during year:
Collection of principal	(19,258		)	—			—
Collection of interest	(2,000		)	(28		)	—
Amortization of capitalized costs	(108		)	(3		)	—
	(21,366		)	(31		)	—
Balance at end of year	$	140,708		$	45,279		$	—

130

INDEX TO EXHIBITS

EXHIBIT NO.	DESCRIPTION
12.1	Ratio of Earnings to Fixed Charges
21.1	List of Subsidiaries of the Registrant
23.1	Consent of Ernst & Young LLP
31.1	Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2	Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1	Certification of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. 1350, as created by Section 906 of the Sarbanes-Oxley Act of 2002
101.INS++	XBRL Instance Document
101.SCH++	XBRL Taxonomy Extension Schema
101.CAL++	XBRL Taxonomy Extension Calculation Linkbase
101.LAB++	XBRL Extension Labels Linkbase
101.PRE++	XBRL Taxonomy Extension Presentation Linkbase
101.DEF++	XBRL Taxonomy Extension Definition Linkbase
++	Pursuant to Rule 406T of Regulation S-T, these interactive data files are deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, are deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise are not subject to liability under those sections.

131

EX-12.1

Exhibit 12.1

Ratio of Earnings to Fixed Charges

(in thousands, except ratio computation)

	Year Ended December 31,
	2012			2011			2010			2009			2008
Pretax (loss) income from continuing operations before      adjustment for noncontrolling interest	$	(9,258	)	$	21,835		$	4,422		$	57,425		$	23,967
Adjustments:
Equity in (income) loss of unconsolidated joint ventures	(542		)	(4,829		)	116			88			(108		)
Fixed charges	80,394			89,929			82,090			76,400			65,413
Distributed income of equity investees	3,337			1,465			346			371			171
Capitalized interest	(4,742		)	(2,273		)	(2,244		)	(1,430		)	(2,934		)
Earnings as defined	$	69,189		$	106,127		$	84,730		$	132,854		$	86,509
Fixed charges
Interest expense	$	75,794		$	84,246		$	75,104		$	71,229		$	62,752
Capitalized interest	4,742			2,273			2,244			1,430			2,934
(Accretion) amortization of debt (premiums) discounts, net	(2,627		)	1,178			2,818			2,221			(1,902		)
Amortization of loan fees	2,485			2,232			1,924			1,520			1,629
Fixed charges	$	80,394		$	89,929		$	82,090		$	76,400		$	65,413
Ratio of earning to fixed charges	0.86			1.18			1.03			1.74			1.32

EX-21.1

Exhibit 21.1

LIST OF SUBSIDIARIES OF EQUITY ONE, INC.

Below is a list of the direct and indirect subsidiaries of Equity One, Inc., a Maryland corporation, and the corresponding states of organization:

Name of Entity	State of Organization
222 Sutter Street LLC(1)	Delaware
621 Colorado Associates, LLC (1)	Delaware
C&C Delaware, Inc. (1)	Delaware
C&C (U.S.) No. 1, Inc. (1)	Delaware
Centrefund Realty (U.S.) Corporation *	Delaware
Daly City Serramonte Center, LLC (1)	Delaware
Danbury 6 Associates Limited Liability Company (1)	Massachusetts
DIM-Governors Town Square Limited Partnership (1)	Florida
DIM-Governors Town Square, LLC (1)	Florida
DIM Vastgoed, N.V. (1)	The Netherlands
DIM-Whitaker Square Limited Partnership (1)	Florida
DIM-Whitaker Square, LLC (1)	Florida
Escuela Shopping Center, LLC (1)	Delaware
Equity Asset Investor (Danbury/Southbury) Inc.	Florida
Equity Asset Investor (Talega) Inc.	Florida
Equity Asset Investor (Vernola) Inc.	Florida
Equity Asset Manager (Danbury) LLC	Delaware
Equity Asset Manager (Southbury) LLC	Delaware
Equity One (1225 2nd) LLC	Delaware
Equity One (Bridgemill) Inc.	Georgia
Equity One (Buckhead Manager) Inc.	Georgia
Equity One (Buckhead Station) LLC	Georgia
Equity One (Circle West) LLC (1)	Delaware
Equity One (Compo Acres) LLC (1)	Connecticut
Equity One (Copps Hill) Inc.	Florida
Equity One (Country Walk) LLC (1)	Delaware
Equity One (Culver) LLC (1)	Delaware
Equity One (Darinor) LLC (1)	Delaware
Equity One (Florida Portfolio) Inc. *	Florida
Equity One (Louisiana Portfolio) LLC *	Florida
Equity One (Metropolitan) LLC (1)	Delaware
Equity One (Mezzanine Portfolio) Inc.	Florida
Equity One (Northeast Portfolio) Inc. *	Massachusetts
Equity One (Post Road) LLC (1)	Connecticut
Equity One (Ralphs Circle) LLC (1)	Delaware
Equity One (Sheridan Plaza) LLC	Florida
Equity One (Southeast Portfolio) Inc. *	Georgia
Equity One (Southpoint) Inc.	Florida
Equity One (Summerlin) Inc. *	Florida

Name of Entity	State of Organization
Equity One (Sunlake) Inc. *	Florida
Equity One (Vons Circle) LLC (1)	Delaware
Equity One (Walden Woods) Inc. *	Florida
Equity One (Webster) Inc.	Massachusetts
Equity One (West Coast Portfolio) Inc.	Florida
Equity One (Westport) Inc.	Florida
Equity One Acquisition Corp. *	Florida
Equity One JV Portfolio LLC (1)	Delaware
Equity One JV Sub CT Path LLC (1)	Delaware
Equity One JV Sub Lender LLC (1)	Delaware
Equity One JV Sub Northborough LLC (1)	Delaware
Equity One JV Sub Veranda LLC (1)	Delaware
Equity One Realty & Management CA, Inc. (1)	Delaware
Equity One Realty & Management FL, Inc. *	Florida
Equity One Realty & Management NE, Inc. *	Massachusetts
Equity One Realty & Management SE, Inc. *	Georgia
EQY Asset Investor (Canyon Trails) Inc.	Florida
EQY Capital Partner (GRI) Inc.	Florida
EQY-CSC LLC (1)	Delaware
EQY Portfolio Investor (DRA) Inc.	Florida
EQY Portfolio Investor (Empire) Inc.	Florida
EQY Portfolio Investor (GRI) Inc.	Florida
EQY Realty & Management (GRI) Inc.	Florida
Fairfield Mission Village Associates, LLC (1)	Delaware
G&I VI South Florida Portfolio LLC (1)	Delaware
G&I VI South Florida Portfolio SPE LLC (1)	Delaware
G.S. Associates Holding Corp. (1)	Delaware
G.S. Associates Joint Venture 326118, a CA general partnership (1)	California
GRI-EQY (Airpark Plaza) LLC (1)	Delaware
GRI-EQY (Concord) LLC (1)	Delaware
GRI-EQY (Ibis) LLC (1)	Delaware
GRI-EQY (Presidential Markets) LLC (1)	Delaware
GRI-EQY (Quail Roost) LLC (1)	Delaware
GRI-EQY (Sparkleberry Square) LLC (1)	Delaware
GRI-EQY (Sparkleberry Kohl's) LLC (1)	Delaware
GRI-EQY (Sparkleberry Kroger) LLC (1)	Delaware
GRI-EQY (Sunset 97) LLC (1)	Delaware
GRI-EQY (Sunset 100) LLC (1)	Delaware
GRI-EQY I, LLC (1)	Delaware
IRT Alabama, Inc. *	Alabama
IRT Capital Corporation II *	Georgia
IRT Management Company *	Georgia
IRT Partners L.P. *	Georgia
Louisiana Holding Corp. *	Florida
Marketplace Center, Inc. (1)	California

Name of Entity	State of Organization
MCC Redondo Beach, LLC (1)	Delaware
MCC Redondo Beach II, LLC (1)	Delaware
Parnassus Heights Medical Center, a JV general partnership (1)	Delaware
Serramonte Center Holding Co., LLC (1)	Delaware
Skylake Protection and Indemnity, Inc.	New York
Southbury 84 Associates Limited Liability Company (1)	Massachusetts
Southeast U.S. Holdings B.V.	The Netherlands
Sunlake - Equity One LLC (1)	Delaware
The Berries LLC (1)	Delaware
Walden Woods Village, Ltd.	Florida
Willows Center Concord, Inc. (1)	California
Willows Center Concord, LLC (1)	California

⁽¹⁾ Not wholly-owned.

* Guarantors of Senior Unsecured Notes

EX-23.1

Exhibit 23.1

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

We consent to the incorporation by reference in the following Registration Statements:

(1) Registration Statement (Form S-3 No. 333-120350) of Equity One, Inc.,

(2) Registration Statement (Form S-3 No. 333-158195) of Equity One, Inc.,

(3) Registration Statement (Form S-3 No. 333-165109) of Equity One, Inc.,

(4) Registration Statement (Form S-3 No. 333-166800) of Equity One, Inc.,

(5) Registration Statement (Form S-8 No. 333-99577) pertaining to the 1995 Stock Option Plan and the Amended and Restated 2000 Executive Incentive Compensation Plan of Equity One, Inc.,

(6) Registration Statement (Form S-8 No. 333-103368) pertaining to the 1989 Stock Option Plan of Equity One, Inc. and the 1998 Long-Term Incentive Plan of IRT Property Company,

(7) Registration Statement (Form S-8 No. 333-118347) pertaining to the Amended and Restated Executive Incentive Compensation Plan for Equity One, Inc.,

(8) Registration Statement (Form S-8 No. 333-150706) pertaining to the First Amended and Restated Employment Agreement, dated August 28, 2006, by and between Equity One, Inc. and Jeffrey S. Olson and the Amended and Restated 2000 Executive Incentive Compensation Plan of Equity One, Inc.,

(9) Registration Statement (Form S-8 No. 333-174161) pertaining to the Amended and Restated 2000 Executive Incentive Compensation Plan of Equity One, Inc.,

of our reports dated February 28, 2013, with respect to the consolidated financial statements and schedules of Equity One, Inc. and subsidiaries and the effectiveness of internal control over financial reporting of Equity One, Inc. and subsidiaries included in this Annual Report (Form 10-K) of Equity One, Inc. and subsidiaries for the year ended December 31, 2012.

/s/ Ernst & Young LLP

Certified Public Accountants

Boca Raton, Florida

February 28, 2013

EX-31.1

Exhibit 31.1

CERTIFICATION OF CHIEF EXECUTIVE OFFICER

I, Jeffrey S. Olson, certify that:

1.    I have reviewed this annual report on Form 10-K of Equity One, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d. Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

February 28, 2013	/s/ Jeffrey S. Olson
	Jeffrey S. Olson
	Chief Executive Officer
	(Principal Executive Officer)

EX-31.2

Exhibit 31.2

CERTIFICATION OF CHIEF FINANCIAL OFFICER

I, Mark Langer, certify that:

1.    I have reviewed this annual report on Form 10-K of Equity One, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d. Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

February 28, 2013	/s/ Mark Langer
	Mark Langer
	Executive Vice President and Chief Financial Officer
	(Principal Financial Officer)

EX-32.1

Exhibit 32.1

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED

PURSUANT TO SECTION 906 OF THE

SARBANES-OXLEY ACT OF 2002

Pursuant to 18 U.S.C. § 1350, as created by Section § 906 of the Sarbanes-Oxley Act of 2002, the undersigned officers of Equity One, Inc. (the “Company”) hereby certify, to such officers’ knowledge, that:

(i) The accompanying Annual Report on Form 10-K for the period ended December 31, 2012 (the “Report”) fully complies with the requirements of Section 13(a) or 15(d), as applicable, of the Securities Exchange Act of 1934, as amended; and

(ii) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

February 28, 2013
	/s/ Jeffrey S. Olson
	Jeffrey S. Olson
	Chief Executive Officer
	(Principal Executive Officer)
February 28, 2013
	/s/ Mark Langer
	Mark Langer
	Executive Vice President and Chief Financial Officer
	(Principal Financial Officer)

A signed original of this written statement required by Section 906 has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

The foregoing certification is being furnished as an exhibit to the Report pursuant to Item 601(b)(32) of Regulation S-K and Section 906 of the Sarbanes-Oxley Act of 2002 and, accordingly, is not being filed with the Securities and Exchange Commission as part of the Report and is not to be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended (whether made before or after the date of the Report, irrespective of any general incorporation language contained in such filing).

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Valuation And Qualifying Accounts Valuation and Qualifying Accounts (Notes)

12 Months Ended

Dec. 31, 2012

Valuation and Qualifying Accounts [Abstract]

Valuation And Qualifying Accounts

SCHEDULE II

Equity One, Inc.

VALUATION AND QUALIFYING ACCOUNTS

	Balance at beginning of period		Charged to expense		Adjustments to valuation accounts		Deductions			Balance at end of period
	(In thousands)
Year Ended December 31, 2012:
Allowance for doubtful accounts	$	5,265	$	1,054	$	—	$	(3,137	)	$	3,182
Allowance for deferred tax asset	205		8		—		—			213
Year Ended December 31, 2011:
Allowance for doubtful accounts	3,672		2,100		—		(507		)	5,265
Allowance for deferred tax asset	195		10		—		—			205
Year Ended December 31, 2010:
Allowance for doubtful accounts	3,718		1,601		—		(1,647		)	3,672		(1)
Allowance for deferred tax asset	183		12		—		—			195

^{____________________________________} 

⁽¹⁾ Allowance for doubtful accounts balance above excludes allowance for doubtful accounts relating to held for sale assets of $1.2 million at December 31, 2010.

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Segment Reporting (Narrative) (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Segment Reporting Information [Line Items]
Impairment loss	$ 18,824	$ 22,772	$ 19,158	$ 464
Southeast [Member]
Segment Reporting Information [Line Items]
Impairment loss		12,300	15,100	273
South Florida [Member]
Segment Reporting Information [Line Items]
Impairment loss			3,800	29
North Florida [Member]
Segment Reporting Information [Line Items]
Impairment loss		9,800	266	162
South Florida Region [Member]
Segment Reporting Information [Line Items]
Impairment loss		600
West Coast [Member]
Segment Reporting Information [Line Items]
Impairment loss		$ 140

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Other Liabilities (Tables)

12 Months Ended

Dec. 31, 2012

Other Liabilities Disclosure [Abstract]

Composition of Other Liabilities

The following is a summary of the composition of other liabilities in the consolidated balance sheets:

	December 31,
	2012		2011
	(in thousands)
Lease intangible liabilities, net	$	185,494	$	156,495
Prepaid rent	10,949		6,834
Other	215		811
Total other liabilities	$	196,658	$	164,140

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Property Dispositions (Tables)

12 Months Ended

Dec. 31, 2012

Dispositions [Abstract]

Summary of Disposition Activity

The following table provides a summary of disposition activity during the year ended December 31, 2012:

Date Sold	Property Name	City	State	Square Feet/Acres		Gross Sales Price
						(In thousands)
Income producing property sold
December 7, 2012	Woodruff	Greenville	SC	68,055		$	9,100
March 30, 2012	Laurel Walk Apartments	Charlotte	NC	106,480		6,000
March 30, 2012	Commerce Crossing	Commerce	GA	100,668		600
March 15, 2012	222 Sutter Street	San Francisco	CA	128,595		53,829		(1)
						69,529
Outparcels sold
February 27, 2012	Market Place - IHOP outparcel	Norcross	GA	0.35	(2)	885
January 20, 2012	Grand Marche - ground lease	Lafayette Parish	LA	200,585		775
						1,660
Total						$	71,189

^{______________________________________________} 

⁽¹⁾ Includes $27.2 million of mortgage debt repaid by the buyer at closing.

⁽²⁾ In acres.

Components of Income and Expense Relating to Discontinued Operations

The components of income and expense relating to discontinued operations for the years ended December 31, 2012, 2011 and 2010 are shown below. These include the results of operations through the date of each respective sale for properties sold during 2012, 2011 and 2010 and the operations for the applicable period for those assets classified as held for sale as of December 31, 2012:

	Year Ended December 31,
	2012			2011			2010
	(In thousands)
Rental revenue	$	11,894		$	71,656		$	67,350
Expenses:
Property operating expenses	3,521			20,222			18,237
Rental property depreciation and amortization	2,305			14,881			19,676
General and administrative expenses	13			57			55
Operations of income producing property	6,055			36,496			29,382
Interest expense	(993		)	(16,460		)	(15,188		)
Equity in income of unconsolidated joint ventures	—			704			—
Gain on disposal of income producing properties	16,588			4,407			2,257
Impairment loss on income producing properties	(6,669		)	(38,178		)	(223		)
Loss on extinguishment of debt	(1,449		)	(221		)	30
Income tax benefit	—			29,575			2,041
Other income (loss)	448			(4		)	(26		)
Income from discontinued operations	13,980			16,319			18,273
Net loss attributable to noncontrolling interests - discontinued operations	—			33			439
Income from discontinued operations attributable to Equity One, Inc.	$	13,980		$	16,352		$	18,712

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Fair Value Measurements (Assets Measured and Recorded at Fair Value on a Recurring Basis) (Details) (Interest Rate Swaps [Member], Fair Value, Measurements, Recurring [Member], USD $) In Thousands, unless otherwise specified	Dec. 31, 2012
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities, Fair Value	$ 6,954
Level 1 [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities, Fair Value	0
Level 2 [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities, Fair Value	6,954
Level 3 [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities, Fair Value	$ 0

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Acquisitions (Summary of Income Producing Property Acquisition Activity) (Details) (USD $) In Thousands, unless otherwise specified				12 Months Ended
	Dec. 31, 2012 sqft	Dec. 31, 2011	Jan. 04, 2011 sqft	Dec. 31, 2012 Queens [Member] Clocktower Plaza Shopping Center [Member] sqft		Dec. 31, 2012 Norwalk [Member] Darinor Plaza [Member] sqft		Dec. 31, 2012 Bronx [Member] Broadway Plaza - Land Outparcel [Member] acre		Dec. 31, 2012 Bronx [Member] Broadway Plaza - land parcel [Member] acre		Dec. 31, 2012 San Francisco [Member] 200 Potrero [Member] sqft		Dec. 31, 2012 San Francisco [Member] Potrero Center [Member] sqft	Dec. 31, 2012 New York [Member] 1225 -1239 Second Avenue [Member] sqft		Dec. 31, 2012 Westport [Member] Compo Acres Shopping Center [Member] sqft	Dec. 31, 2012 Darien [Member] Post Road Plaza [Member] sqft
Business Acquisition [Line Items]
Date Purchased				Sep. 28, 2012		Aug. 28, 2012		Oct. 01, 2012		Jun. 08, 2012		Dec. 27, 2012		Mar. 01, 2012	Oct. 05, 2012		Mar. 01, 2012	Mar. 01, 2012
Square Feet/Acres	16,900,000.00		2,600,000.00	78,820.00	[1]	152,025.00	[1],[2]	0.17	[3]	1.83	[3]	30,500.00	[1]	226,699.00	18,474.00	[1]	43,107.00	20,005.00
Purchase Price	$ 288,500			$ 56,000	[1]	$ 36,000	[1],[2]	$ 2,000		$ 7,500		$ 5,750	[1]	$ 110,750	$ 27,500	[1]	$ 30,300	$ 12,700
Business Acquisition, Purchase Price Allocation, Liabilities Assumed	$ 35,451	$ 121,200				$ 18,765	[1],[2]								$ 16,686	[1]

[1] The purchase price has been preliminarily allocated to real estate assets acquired and liabilities assumed, as applicable, in accordance with our accounting policies for business combinations. The purchase price and related accounting will be finalized after our valuation studies are complete.

[2] Property is subject to a ground lease which expires in 2076.

[3] In acres.

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Condensed Consolidating Financial Information (Schedule of Condensed Consolidating Statements of Comprehensive Income) (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended																12 Months Ended
	Dec. 31, 2012		Sep. 30, 2012		Jun. 30, 2012		Mar. 31, 2012		Dec. 31, 2011		Sep. 30, 2011		Jun. 30, 2011		Mar. 31, 2011		Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Total revenue																	$ 325,611	$ 280,208	$ 218,009
Equity in subsidiaries' earnings
Total costs and expenses																	216,125	211,548	150,247
INCOME BEFORE OTHER INCOME AND EXPENSE, TAX AND DISCONTINUED OPERATIONS																	109,486	68,660	67,762
Other income and expenses																	(118,744)	(46,825)	(63,340)
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE TAX AND DISCONTINUED OPERATIONS																	(9,258)	21,835	4,422
Income tax benefit of taxable REIT subsidiaries																	2,503	5,064	1,724
INCOME (LOSS) FROM CONTINUING OPERATIONS	(32,255)	[1],[2]	11,825	[1]	5,301	[1]	8,374	[1]	(2,559)	[1]	(8,216)	[1],[3]	5,354	[1]	32,320	[1],[4]	(6,755)	26,899	6,146
Income (loss) from discontinued operations																	13,980	16,319	18,273
NET INCOME (LOSS)	(30,292)	[1],[2]	10,801	[1]	5,021	[1]	21,695	[1]	(1,071)	[1]	(2,209)	[1],[3]	9,121	[1]	37,377	[1],[4]	7,225	43,218	24,419
Other comprehensive loss																	(6,431)	415	(1,303)
COMPREHENSIVE INCOME																	794	43,633	23,116
Comprehensive (income) loss attributable to noncontrolling interests																	(10,702)	(9,597)	693
COMPREHENSIVE (LOSS) INCOME ATTRIBUTABLE TO EQUITY ONE, INC.																	(9,908)	34,036	23,809
Equity One, Inc. [Member]
Total revenue																	33,189	32,901	33,618
Equity in subsidiaries' earnings																	115,148	138,930	71,387
Total costs and expenses																	48,931	51,728	49,472
INCOME BEFORE OTHER INCOME AND EXPENSE, TAX AND DISCONTINUED OPERATIONS																	99,406	120,103	55,533
Other income and expenses																	(103,061)	(94,795)	(33,700)
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE TAX AND DISCONTINUED OPERATIONS																	(3,655)	25,308	21,833
Income tax benefit of taxable REIT subsidiaries																			(199)
INCOME (LOSS) FROM CONTINUING OPERATIONS																	(3,655)	25,308	21,634
Income (loss) from discontinued operations																	636	8,664	2,457
NET INCOME (LOSS)																	(3,019)	33,972	24,091
Other comprehensive loss																	(6,889)	64	(282)
COMPREHENSIVE INCOME																	(9,908)	34,036	23,809
Comprehensive (income) loss attributable to noncontrolling interests
COMPREHENSIVE (LOSS) INCOME ATTRIBUTABLE TO EQUITY ONE, INC.																	(9,908)	34,036	23,809
Combined Guarantor Subsidiaries [Member]
Total revenue																	156,774	149,164	146,048
Equity in subsidiaries' earnings
Total costs and expenses																	83,820	85,259	75,360
INCOME BEFORE OTHER INCOME AND EXPENSE, TAX AND DISCONTINUED OPERATIONS																	72,954	63,905	70,688
Other income and expenses																	(19,219)	(25,032)	(13,466)
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE TAX AND DISCONTINUED OPERATIONS																	53,735	38,873	57,222
Income tax benefit of taxable REIT subsidiaries																	(262)	2,723	752
INCOME (LOSS) FROM CONTINUING OPERATIONS																	53,473	41,596	57,974
Income (loss) from discontinued operations																	(1,226)	43,005	10,854
NET INCOME (LOSS)																	52,247	84,601	68,828
Other comprehensive loss
COMPREHENSIVE INCOME																	52,247	84,601	68,828
Comprehensive (income) loss attributable to noncontrolling interests
COMPREHENSIVE (LOSS) INCOME ATTRIBUTABLE TO EQUITY ONE, INC.																	52,247	84,601	68,828
Non-Guarantor Subsidiaries [Member]
Total revenue																	136,036	98,143	38,445
Equity in subsidiaries' earnings
Total costs and expenses																	83,997	72,411	23,588
INCOME BEFORE OTHER INCOME AND EXPENSE, TAX AND DISCONTINUED OPERATIONS																	52,039	25,732	14,857
Other income and expenses																	4,402	77,086	(11,684)
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE TAX AND DISCONTINUED OPERATIONS																	56,441	102,818	3,173
Income tax benefit of taxable REIT subsidiaries																	2,765	2,341	1,171
INCOME (LOSS) FROM CONTINUING OPERATIONS																	59,206	105,159	4,344
Income (loss) from discontinued operations																	14,188	(93,479)	(1,475)
NET INCOME (LOSS)																	73,394	11,680	2,869
Other comprehensive loss																	458	351	(1,021)
COMPREHENSIVE INCOME																	73,852	12,031	1,848
Comprehensive (income) loss attributable to noncontrolling interests																	(10,702)	(9,597)	693
COMPREHENSIVE (LOSS) INCOME ATTRIBUTABLE TO EQUITY ONE, INC.																	63,150	2,434	2,541
Eliminating Entries [Member]
Total revenue																	(388)		(102)
Equity in subsidiaries' earnings																	(115,148)	(138,930)	(71,387)
Total costs and expenses																	(623)	2,150	1,827
INCOME BEFORE OTHER INCOME AND EXPENSE, TAX AND DISCONTINUED OPERATIONS																	(114,913)	(141,080)	(73,316)
Other income and expenses																	(866)	(4,084)	(4,490)
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE TAX AND DISCONTINUED OPERATIONS																	(115,779)	(145,164)	(77,806)
Income tax benefit of taxable REIT subsidiaries
INCOME (LOSS) FROM CONTINUING OPERATIONS																	(115,779)	(145,164)	(77,806)
Income (loss) from discontinued operations																	382	58,129	6,437
NET INCOME (LOSS)																	(115,397)	(87,035)	(71,369)
Other comprehensive loss
COMPREHENSIVE INCOME																	(115,397)	(87,035)	(71,369)
Comprehensive (income) loss attributable to noncontrolling interests
COMPREHENSIVE (LOSS) INCOME ATTRIBUTABLE TO EQUITY ONE, INC.																	$ (115,397)	$ (87,035)	$ (71,369)

[1] Reclassified to reflect the reporting of discontinued operations. Note that the sum of the individual quarters per share data may not foot to the year-to-date totals due to the rounding of the individual calculations.

[2] During the fourth quarter of 2012, we recognized a loss on early extinguishment of debt of $30.2 million (including $1.1 million in discontinued operations), primarily comprised of a make-whole premium and deferred fees and costs of $29.6 million associated with the redemption of all of our $250 million 6.25% unsecured senior notes, which were scheduled to mature on December 15, 2014. Additionally, during the fourth quarter of 2012, we recognized impairment losses of $18.8 million in continuing operations and $798,000 in discontinued operations. See Note 7 for further discussion of impairments.

[3] During the fourth quarter of 2011, we identified and corrected an immaterial error related to the allocation of earnings between continuing and discontinued operations. Net loss from continuing operations for the third quarter was understated by $1.6 million, or $0.02 per basic and diluted share, and net income from discontinued operations was understated by $1.6 million, or $0.01 per basic and diluted share. Net loss per basic and diluted share were not affected. No other quarters were impacted by the reclassification of earnings between continuing and discontinued operations.

[4] During the first quarter of 2011, we recognized a gain on bargain purchase of $30.6 million related to our CapCo acquisition.

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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Income Tax Disclosure [Abstract]

Schedule Of Reconciles GAAP Net Income To Taxable Income

The following table reconciles GAAP net income to taxable income:

	Year Ended December 31,
	2012			2011			2010
	(Estimated)			(Actual)			(Actual)
	(In thousands)
GAAP net (loss) income attributable to Equity One	$	(3,477	)	$	33,621		$	25,112
Net loss attributable to taxable REIT subsidiaries	4,964			63,319			7,842
GAAP net income from REIT operations	1,487			96,940			32,954
Book/tax differences:
Joint ventures	4,964			(2,671		)	(1,929		)
Depreciation	7,135			6,952			3,236
Sale of property	(925		)	(44,819		)	(1,386		)
Bargain purchase gain	—			(30,561		)	—
Exercise of stock options and restricted shares	6,390			4,506			4,928
Interest expense	3,152			1,002			(180		)
Deferred/prepaid/above and below-market rents, net	(2,388		)	(1,711		)	318
Impairment loss	21,511			14,866			525
Amortization	144			(84		)	842
Acquisition costs	1,941			5,982			7,057
Other, net	(1,458		)	53			26
Inclusion from foreign taxable REIT subsidiary	—			10,502			—
Adjusted taxable income(1)	$	41,953		$	60,957		$	46,391

^{______________________________________________} 

⁽¹⁾  Adjusted taxable income subject to 90% dividend requirements.

Summarizes Of Tax Status Of Dividends Paid

The following summarizes the tax status of dividends paid:

	Year Ended December 31,
	2012			2011			2010
Dividend paid per share	$	0.88		$	0.88		$	0.88
Ordinary income	43.72		%	51.80		%	50.74		%
Return of capital	54.10		%	39.13		%	47.08		%
Capital gains	2.18		%	9.07		%	2.18		%

Taxable REIT Subsidiaries

Our total pre-tax losses and income tax benefits relating to our TRS and taxable entities which have been consolidated for accounting reporting purposes are summarized as follows:

	Year Ended December 31,
	2012			2011			2010
	(In thousands)
U.S. loss before income taxes	$	(7,452	)	$	(97,219	)	$	(9,265	)
Foreign loss before income taxes	(15		)	(739		)	(2,342		)
Total loss before income taxes	(7,467		)	(97,958		)	(11,607		)
Less income tax benefit (provision):
Current federal and state	72			(405		)	430
Deferred federal and state	2,431			35,044			3,335
Total income tax benefit	2,503			34,639			3,765
Net loss from taxable REIT subsidiaries	$	(4,964	)	$	(63,319	)	$	(7,842	)

Pre-Tax Earnings From Continuing Operations And Provision For Income Taxes

Our total pre-tax losses for continuing operations and income tax benefits for continuing operations included above relating to our TRS and taxable entities which have been consolidated for accounting reporting purposes are summarized as follows:

	Year Ended December 31,
	2012			2011			2010
	(In thousands)
U.S. (loss) income before income taxes	$	(7,452	)	$	11,794		$	8,765
Foreign loss before income taxes	(15		)	(739		)	(2,342		)
Total (loss) income before income taxes	(7,467		)	11,055			6,423
Less income tax benefit (provision):
Current federal and state	72			(97		)	430
Deferred federal and state	2,431			5,161			1,294
Total income tax benefit	2,503			5,064			1,724
Net (loss) income from taxable REIT subsidiaries	$	(4,964	)	$	16,119		$	8,147

Statutory Federal Income Tax Rate To Taxable Income Before Income Taxes

The total income tax benefit differs from the amount computed by applying the statutory federal income tax rate to net (loss)/income before income taxes as follows:

	Year Ended December 31,
	2012			2011			2010
	(In thousands)
Federal benefit at statutory tax rate (1)	$	2,616		$	34,205		$	4,040
State taxes, net of federal benefit	272			3,187			406
Adjustment to DIM gain	—			(3,315		)	—
Foreign tax rate differential	(7		)	(2		)	(48		)
Other	(370		)	574			(622		)
Valuation allowance increase	(8		)	(10		)	(11		)
Total income tax benefit	$	2,503		$	34,639		$	3,765

^{______________________________________________} 

⁽¹⁾  Rate of 34% or 35% used, dependent on the projected taxable income levels of our TRSs.

Statutory Federal Income Tax Rate To Taxable Income Before Income Taxes For Continuing Operations

The income tax benefit for continuing operations differs from the amount computed by applying the statutory federal income tax rate to net (loss)/income before income taxes as follows:

	Year Ended December 31,
	2012			2011			2010
	(In thousands)
Federal benefit at statutory tax rate (1)	$	2,616		$	3,869		$	2,248
State taxes, net of federal benefit	272			442			257
Foreign tax rate differential	(7		)	(2		)	(48		)
Other	(370		)	765			(722		)
Valuation allowance increase	(8		)	(10		)	(11		)
Total income tax benefit	$	2,503		$	5,064		$	1,724

^{______________________________________________} 

⁽¹⁾ Rate of 35% used.

Deferred Tax Assets And Liabilities

Our deferred tax assets and liabilities were as follows:

	December 31
	2012			2011
	(In thousands)
Deferred tax assets:
Disallowed interest	$	2,903		$	3,034
Net operating loss	3,216			3,473
Other	138			212
Valuation allowance	(213		)	(205		)
Total deferred tax assets	6,044			6,514
Deferred tax liabilities:
Other real estate investments	(13,828		)	(16,532		)
Mortgage revaluation	(1,005		)	(1,233		)
Other	(259		)	(229		)
Total deferred tax liabilities	(15,092		)	(17,994		)
Net deferred tax liability	$	(9,048	)	$	(11,480	)

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Accounts And Other Receivables (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Valuation Allowance [Line Items]
Tenants	$ 14,354	$ 18,110
Other	3,148	4,945
Allowance for doubtful accounts	(3,182)	(5,265)
Total accounts and other receivables, net	14,320	17,790
Bad debt expense	979	2,946	2,429
Allowance for Doubtful Accounts [Member]
Valuation Allowance [Line Items]
Valuation Allowances and Reserves, Charged to Cost and Expense	$ 1,054	$ 2,100	$ 1,601

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Stockholders’ Equity and Earnings (Loss) Per Share (Narrative) (Details) (USD $)	1 Months Ended		3 Months Ended				10 Months Ended	12 Months Ended				12 Months Ended		0 Months Ended			1 Months Ended	0 Months Ended	12 Months Ended
	Aug. 31, 2012	May 31, 2011	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2010	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	May 02, 2011	Dec. 31, 2012 Class A Joint Venture Shares [Member]	Dec. 31, 2011 Class A Joint Venture Shares [Member]	Jun. 29, 2011 Class A [Member]	Jan. 04, 2011 Class A [Member]	Aug. 31, 2012 Secondary Public Offering [Member] Common Stock [Member]	Aug. 31, 2012 Private Placement [Member] MGN (USA), Inc [Member] Common Stock [Member]	Feb. 19, 2010 Dim Vastgoed N V [Member]	Dec. 31, 2012 Dim Vastgoed N V [Member]	Dec. 31, 2011 Dim Vastgoed N V [Member]	Jan. 14, 2009 Dim Vastgoed N V [Member]	Dec. 31, 2011 CapCo [Member]	May 31, 2011 MGN (USA), Inc [Member]	Dec. 31, 2010 MGN (USA), Inc [Member] Secondary Public Offering [Member]	Dec. 31, 2010 MGN (USA), Inc [Member] Private Placement [Member]
Schedule of Equity Method Investments [Line Items]
Proceeds From Issuance Of Public Offering And Private Placement		$ 115,700,000					$ 267,800,000
Common Stock, Dividends, Per Share, Declared			$ 0.22	$ 0.22	$ 0.22	$ 0.22
Issuance of common stock (in shares)																	500,000
Issuance of common stock, price per share (in usd per share)																$ 21.20
Proceeds from issuance of common stock	85,600,000							85,838,000	116,542,000	270,698,000
Stock issuance costs	813,000							883,000	1,185,000	3,319,000
Transferred outstanding promissory note shares												11,400,000	11,200,000					536,601	0	0
General and administrative expenses								169,000
Common stock not included in the calculation of EPS, shares								3,500,000	1,900,000	1,900,000
Common stock price lower range limit (in usd per share)								$ 11.59	$ 18.88	$ 17.79
Common stock price upper range limit (in usd per share)								$ 26.66	$ 26.66	$ 26.66
Common stock, shares issued (in shares)		6,000,000	116,938,000					116,938,000	112,599,000		13,500,000					4,100,000					866,373		1,000,000	14,000,000	1,500,000
Sale of Stock, Price Per Share		$ 19.42																						$ 18.40	$ 16.90
Stock Issuance Costs And Underwriting Discounts		858,000
Transferred Outstanding Promissory Note Of Partner Capital																						$ 67,000,000
Transferred Outstanding Promissory Note Of Partner Shares																						4,100,000
Number of shares transfered at fair value															1
Common stock, shares outstanding (in shares)			116,938,000					116,938,000	112,599,000					10,000
Conversion of Stock, Shares Converted														1
Preferred Stock, Shares Authorized			10,000,000					10,000,000	10,000,000
Common Stock, Conversion Rate												1

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Acquisitions (Tables)

12 Months Ended

Dec. 31, 2012

Business Combinations [Abstract]

Summary of Income Producing Property Acquisition Activity

The following table provides a summary of acquisition activity during the year ended December 31, 2012:

Date Purchased	Property Name	City	State	Square Feet/Acres		Purchase Price		Mortgage Assumed
						(In thousands)
December 27, 2012	200 Potrero (1)	San Francisco	CA	30,500		$	5,750	$	—
October 5, 2012	1225-1239 Second Avenue (1)	New York	NY	18,474		27,500		16,686
October 1, 2012	Broadway Plaza - land outparcel	Bronx	NY	0.17	(3)	2,000		—
September 28, 2012	Clocktower Plaza Shopping Center (1)	Queens	NY	78,820		56,000		—
August 28, 2012	Darinor Plaza (1) (2)	Norwalk	CT	152,025		36,000		18,765
June 8, 2012	Broadway Plaza - land parcel	Bronx	NY	1.83	(3)	7,500		—
March 1, 2012	Potrero Center	San Francisco	CA	226,699		110,750		—
March 1, 2012	Compo Acres Shopping Center	Westport	CT	43,107		30,300		—
March 1, 2012	Post Road Plaza	Darien	CT	20,005		12,700		—
Total						$	288,500	$	35,451

^{______________________________________________} 

⁽¹⁾ The purchase price has been preliminarily allocated to real estate assets acquired and liabilities assumed, as applicable, in accordance with our accounting policies for business combinations. The purchase price and related accounting will be finalized after our valuation studies are complete.

⁽²⁾ Property is subject to a ground lease which expires in 2076.

⁽³⁾ In acres.

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Fair Value Measurements

12 Months Ended

Dec. 31, 2012

Fair Value Disclosures [Abstract]

Fair Value Measurements

Fair Value Measurements

Fair Value Hierarchy

The Fair Value Measurements and Disclosures Topic of FASB ASC establishes a framework for measuring fair value and requires the categorization of financial assets and liabilities, based on the inputs to the valuation technique, into a three-level fair value hierarchy. The fair value hierarchy gives the highest priority to the quoted prices in active markets for identical assets and liabilities and lowest priority to unobservable inputs. The various levels of the fair value hierarchy are described as follows:

• Level 1 – Financial assets and liabilities whose values are based on unadjusted quoted market prices for identical assets and liabilities in an active market that we have the ability to access.

• Level 2 – Financial assets and liabilities whose values are based on quoted prices in markets that are not active or model inputs that are observable for substantially the full term of the asset or liability.

• Level 3 – Financial assets and liabilities whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement.

The Fair Value Measurements and Disclosures Topic of FASB ASC requires the use of observable market data, when available, in making fair value measurements. When inputs used to measure fair value fall within different levels of the hierarchy, the level within which the fair value measurement is categorized is based on the lowest level input that is significant to the fair value measurement.

Recurring Fair Value Measurements

As of December 31, 2012, we have interest rate swap agreements with a notional amount of $250.0 million that are measured at fair value on a recurring basis. The fair value of our interest rate swaps at December 31, 2012 was a liability of $7.0 million and is included in accounts payable and accrued expenses in our consolidated balance sheet as of such date. The net unrealized loss on our interest rate swaps was $7.0 million for the year ended December 31, 2012 and is included in accumulated other comprehensive loss. The fair value of the interest rate swaps is based on the estimated amount we would receive or pay to terminate the contract at the reporting date and is determined using interest rate pricing models and observable inputs. The interest rate swap is classified within Level 2 of the valuation hierarchy.

The following table presents our hierarchy for those liabilities measured and recorded at fair value on a recurring basis as of December 31, 2012:

	Fair Value Measurements
	Total		Level 1		Level 2		Level 3
	(In thousands)
Liabilities:
Interest rate swaps	$	6,954	$	—	$	6,954	$	—

We held no assets or liabilities that were required to be measured on a recurring basis at fair value as of December 31, 2011.

Valuation Methods

Interest rate swap - The valuation of interest rate swaps is determined using widely accepted valuation techniques, including discounted cash flow analysis on the expected cash flows of the derivative financial instrument. This analysis reflects the contractual terms of the derivative, including the period to maturity, and uses observable market-based inputs, including interest rate market data and implied volatilities in such interest rates. While it was determined that the majority of the inputs used to value the derivatives fall within Level 2 of the fair value hierarchy under authoritative accounting guidance, the credit valuation adjustments associated with the derivatives also utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default. However, as of December 31, 2012, the significance of the impact of the credit valuation adjustments on the overall valuation of the derivative financial instruments was assessed and it was determined that these adjustments are not significant to the overall valuation of the derivative financial instruments. As a result, it was determined that the derivative financial instruments in their entirety are classified in Level 2 of the fair value hierarchy. The unrealized loss included in other comprehensive income (“OCI”) of $7.0 million for the year ended December 31, 2012, is attributable to the net change in unrealized gains or losses related to the interest rate swaps that remain outstanding at December 31, 2012, none of which were reported in the consolidated statements of operations because they are documented and qualify as hedging instruments.

Long term incentive plan - We have a long-term incentive plan for four of our executives based on our total shareholder return versus returns for five of our peer companies. The fair value of this plan is determined using the average trial-specific value of the awards eligible for grant under the plan based upon a Monte Carlo simulation model. This model considers various assumptions, including time value, volatility factors, current market and contractual prices as well as projected future market prices for our common stock as well as common stock of our peer companies over the performance period. Substantially all of these assumptions are observable in the marketplace throughout the full term of the plan, can be derived from observable data or are supported by observable levels at which transactions are executed in the marketplace.

Non-Recurring Fair Value Measurements

The following table presents our hierarchy for those assets measured and recorded at fair value on a non-recurring basis during the year ended December 31, 2012:

Assets:	Total		Level 1		Level 2		Level 3		Total Losses
	(In thousands)
Operating properties held and used (1)	$	19,800	$	—	$	—	$	19,800	$	21,507
Operating properties held for sale (1)	19,100		—		15,340		3,760		6,669
Development properties held and used (1)	12,510		—		—		12,510		740
Total	$	51,410	$	—	$	15,340	$	36,070	$	28,916

⁽¹⁾ Represents real estate investments for which we have recorded an impairment loss during 2012.

On a non-recurring basis, we evaluate the carrying value of investment property and investments in and advances to unconsolidated joint ventures, when events or changes in circumstances indicate that the carrying value may not be recoverable. Impairments, if any, typically result from values established by Level 3 valuations. The carrying value is considered impaired when the total projected undiscounted cash flows from such asset is separately identifiable and is less than its carrying value. In that event, a loss is recognized based on the amount by which the carrying value exceeds the fair value of the asset as determined by purchase price offers or by discounted cash flows using the income or market approach. These cash flows are comprised of unobservable inputs which include contractual rental revenue and forecasted rental revenue and expenses based upon market conditions and expectations for growth. Capitalization rates and discount rates utilized in these models are based upon observable rates that we believe to be within a reasonable range of current market rates for the respective properties. Based on these inputs, we determined that the valuation of these investment properties and investments is classified within Level 3 of the fair value hierarchy.

During the years ended December 31, 2012 and 2011, we recognized $740,000 and $11.8 million, respectively, of impairment losses on certain development projects for which management's development intentions changed. We did not recognize any impairment losses on development projects during the year ended December 31, 2010.

During the year ended December 31, 2012, we recognized impairment losses of $6.7 million related to four properties held for sale (one in the South Florida region and three in the Southeast region), which are included in discontinued operations in the accompanying consolidated statement of operations. The estimated fair values related to the impairment assessment for the property in the South Florida region and two of the properties in the Southeast region were based upon the expected sales prices as determined by executed contracts after adjusting for estimated costs to sell and, therefore, are classified within Level 2 of the fair value hierarchy. The estimated fair value related to the impairment assessment for the third property in the Southeast region was primarily based on a broker opinion and, therefore, is classified within Level 3 of the fair value hierarchy. During the year ended December 31, 2011, we recognized impairment losses of $36.8 million related to properties held for sale based on executed sales contracts. We did not recognize any impairment losses on properties held for sale during the year ended December 31, 2010.

During the years ended December 31, 2012 and 2011, we recognized $21.5 million and $6.4 million, respectively, of impairment losses on operating properties located in secondary markets for which our anticipated holding periods were reconsidered and for which leasing of significant vacant spaces has been difficult. The impairment and results of operations for these properties are included in the Southeast and North Florida regions. The analysis in 2012 and 2011 included an assessment of the plans for each property. Based on this analysis, it was determined that there is an the increased likelihood that holding periods for certain properties may be shorter than previously estimated due to management’s updated disposition plans. The expected cash flows considered the estimated holding period of the assets and the exit price in the event of a disposition. We did not recognize any impairment losses on operating properties during the year ended December 31, 2010.

We also perform annual, or more frequent in certain circumstances, impairment tests of our goodwill. Impairments, if any, result from values established by Level 3 valuations. We estimate the fair value of the reporting unit using discounted projected future cash flows, which approximate a current sales price. If the results of this analysis indicate that the carrying value of the reporting unit exceeds its fair value, impairment is recorded to reduce the carrying value to fair value. Goodwill impairment losses for the years ended December 31, 2012, 2011 and 2010 were $525,000, $2.4 million and $687,000 respectively.

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Investments in Joint Ventures (Investments in and Advances to Unconsolidated Joint Ventures) (Details) (USD $) In Thousands, unless otherwise specified						12 Months Ended			12 Months Ended
	Dec. 31, 2012 property		Dec. 31, 2011		Jan. 04, 2011 property	Dec. 31, 2012 GRI-EQY I, LLC [Member]	Dec. 31, 2011 GRI-EQY I, LLC [Member]	Dec. 31, 2012 Talega Village Center JV, LLC [Member]	Dec. 31, 2012 Equity One JV Portfolio, LLC (NYCRF) [Member]	Dec. 31, 2011 Equity One JV Portfolio, LLC (NYCRF) [Member]	Dec. 31, 2012 Vestar [Member]	Dec. 31, 2012 Georgia, South Carolina & Florida [Member] GRI-EQY I, LLC [Member] property		Dec. 31, 2011 Georgia, South Carolina & Florida [Member] GRI-EQY I, LLC [Member]		Dec. 31, 2012 Florida [Member] G&I Investment South Florida Portfolio, LLC [Member] property		Dec. 31, 2011 Florida [Member] G&I Investment South Florida Portfolio, LLC [Member]		Dec. 31, 2012 New York [Member] Madison 2260, Realty, LLC [Member] property		Dec. 31, 2011 New York [Member] Madison 2260, Realty, LLC [Member]		Dec. 31, 2012 New York [Member] Madison 1235, Realty, LLC [Member] property		Dec. 31, 2011 New York [Member] Madison 1235, Realty, LLC [Member]		Dec. 31, 2012 California [Member] Talega Village Center JV, LLC [Member] property		Dec. 31, 2011 California [Member] Talega Village Center JV, LLC [Member]		Dec. 31, 2012 California [Member] Vernola Marketplace JV, LLC [Member] property		Dec. 31, 2011 California [Member] Vernola Marketplace JV, LLC [Member]		Dec. 31, 2012 California [Member] Parnassus Heights Medical Center [Member] property		Dec. 31, 2011 California [Member] Parnassus Heights Medical Center [Member]		Dec. 31, 2012 Florida & Massachusetts [Member] Equity One JV Portfolio, LLC (NYCRF) [Member] property		Dec. 31, 2011 Florida & Massachusetts [Member] Equity One JV Portfolio, LLC (NYCRF) [Member]
Schedule of Equity Method Investments [Line Items]
Number of properties	168				13							10	[1],[2]			3	[1]			1	[1]			1	[1]			1	[1],[3]			1	[1],[3]			1	[1]			4	[1],[4]
Ownership interests in properties through joint ventures												10.00%	[1],[2]			20.00%	[1]			8.60%	[1]			20.10%	[1]			50.50%	[1],[3]			50.50%	[1],[3]			50.00%	[1]			30.00%	[1],[4]
Investments in unconsolidated joint ventures, Investment Balance	$ 71,567	[1]	$ 49,127	[1]								$ 8,587	[1],[2]	$ 7,705	[1],[2]	$ 3,491	[1]	$ 3,215	[1]	$ 634	[1]	$ 1,066	[1]	$ 1,000	[1]	$ 1,000	[1]	$ 2,909	[1],[3]	$ 3,620	[1],[3]	$ 6,972	[1],[3]	$ 7,433	[1],[3]	$ 20,385	[1]	$ 13,695	[1]	$ 27,589	[1],[4]	$ 11,393	[1],[4]
Advances to unconsolidated joint ventures, Investment Balance	604	[1]	1,031	[1]
Investments in and advances to unconsolidated joint ventures	72,171	[1]	50,158	[1]
Net of deferred gains associated with the disposition of assets						$ 3,300	$ 3,300		$ 404	$ 404
Effective interest rate, noncontrolling interest								48.00%			5.00%

[1] With the exception of the Madison 2260 Realty LLC and Madison 1235 Realty LLC joint ventures, which are accounted for under the cost method, all unconsolidated joint ventures are accounted for under the equity method.

[2] The investment balance as of December 31, 2012 and December 31, 2011 is presented net of deferred gains of $3.3 million for both periods associated with the disposition of assets by us to the joint venture.

[3] Our effective interest is 48% when considering the 5% noncontrolling interest held by Vestar Development Company.

[4] The investment balance as of December 31, 2012 and December 31, 2011 is presented net of a deferred gain of approximately $404,000 for both periods associated with the disposition of assets by us to the joint venture.

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Environmental Matters (Details)	24 Months Ended
	Dec. 31, 2012 matters
Environmental Remediation Obligations [Abstract]
Environmental Remediation, Number of Matters	1

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Related Parties (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
General And Administrative Expenses [Member]
Related Party Transaction [Line Items]
Reimbursements from general and administrative expenses	$ 758	$ 567	$ 636
Gazit Globe Ltd [Member]
Related Party Transaction [Line Items]
Related party rental income	339	271
Due from Gazit	476	126
MGN Icarus, Inc [Member]
Related Party Transaction [Line Items]
Related party expenses	243	137	346
Gazit Globe Ltd [Member]
Related Party Transaction [Line Items]
Related party rental income			$ 324

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Property Dispositions (Narrative) (Details) (USD $)	3 Months Ended	12 Months Ended				0 Months Ended	12 Months Ended
	Dec. 31, 2012 property properties	Dec. 31, 2012 property properties	Dec. 31, 2011	Dec. 31, 2010	Dec. 20, 2011 centers	Dec. 20, 2011 Atlanta, Tampa And Orlando [Member]	Dec. 31, 2012 Segment, Discontinued Operations [Member]	Dec. 31, 2011 Segment, Discontinued Operations [Member]	Dec. 31, 2010 Segment, Discontinued Operations [Member]	Dec. 31, 2012 Mortgage Debt [Member]	Jan. 02, 2013 Subsequent Event [Member] properties	Jan. 02, 2013 Subsequent Event [Member] North Florida And Southeast [Member]
Debt Instrument, Decrease, Repayments										$ 27,200,000
Non core properties, under evaluation to sell	26	26
Non core properties, under evaluation to sell, under contract	9	9
Non core poperties, under contract, estimated gross sales price	61,000,000	61,000,000
Number Of Properties Held For Sale	12	12
Number of real estate properties sold					36						8
Properties held for sale												81,300,000
Properties held for sale	36,300,000	36,300,000
Mortgage Loans On Real Estate Carrying Amount Pre Paid											2,800,000
Property sold		41,994,000	399,396,000	4,317,000		473,100,000
Aggregate principal balance of mortgage loans			155,700,000
Mortgage loans subsequent pay-offs			9,900,000
Recognized impairment loss on sale of assets		33,800,000
Impairment loss on income producing properties held for sale or sold	798,000	6,669,000	38,178,000	223,000			6,669,000	38,178,000	223,000
Deferred tax liability asociated with properties			$ 29,575,000	$ 2,041,000				$ 29,575,000	$ 2,041,000

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Borrowings (Schedule Of Unsecured Senior Notes) (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended		12 Months Ended			12 Months Ended		12 Months Ended		12 Months Ended		12 Months Ended		12 Months Ended
	Dec. 31, 2011	Dec. 31, 2012	Dec. 31, 2012 7.84% Senior Notes, due 1/23/12 [Member]	Jan. 23, 2012 7.84% Senior Notes, due 1/23/12 [Member]	Dec. 31, 2011 7.84% Senior Notes, due 1/23/12 [Member]	Dec. 31, 2012 6.25% Senior Notes, due 12/15/14 [Member]	Dec. 31, 2011 6.25% Senior Notes, due 12/15/14 [Member]	Dec. 31, 2012 5.375% Senior Notes, due 10/15/15 [Member]	Dec. 31, 2011 5.375% Senior Notes, due 10/15/15 [Member]	Dec. 31, 2012 6.0% Senior Notes, due 9/15/16 [Member]	Dec. 31, 2011 6.0% Senior Notes, due 9/15/16 [Member]	Dec. 31, 2012 6.25% Senior Notes, due 1/15/17 [Member]	Dec. 31, 2011 6.25% Senior Notes, due 1/15/17 [Member]	Dec. 31, 2012 6.0% Senior Notes, due 9/15/17 [Member]	Dec. 31, 2011 6.0% Senior Notes, due 9/15/17 [Member]	Dec. 31, 2012 3.75% Senior Notes, due 11/15/22 [Member]	Dec. 31, 2011 3.75% Senior Notes, due 11/15/22 [Member]	Dec. 31, 2012 Unsecured Senior Notes [Member]	Dec. 31, 2011 Unsecured Senior Notes [Member]
Debt Instrument [Line Items]
Unsecured senior notes, current			$ 0		$ 10,000
Unsecured senior notes, non-current						0	250,000	107,505	107,505	105,230	105,230	101,403	101,403	116,998	116,998	300,000	0
Total Unsecured Senior Notes	691,136	731,136																731,136	691,136
Unamortized premium (discount) on notes payable, net																		(2,006)	(2,340)
Total	$ 688,796																	$ 729,130	$ 688,800
Weighted-average interest rate, net of discount adjustment	6.06%	5.02%
Debt instrument, interest rate, stated percentage			7.84%	7.84%		6.25%		5.375%		6.00%		6.25%		6.00%
Debt instrument, maturity date	Nov. 15, 2019		Jan. 23, 2012			Dec. 15, 2014		Oct. 15, 2012		Sep. 15, 2016		Jan. 15, 2017		Sep. 15, 2017

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Stockholders’ Equity and Earnings (Loss) Per Share (Tables)

12 Months Ended

Dec. 31, 2012

Stockholders' Equity Attributable to Parent [Abstract]

Summary of Calculation of Basic EPS and Reconciliation of Net Income Available to Shareholders

The following summarizes the calculation of basic EPS and provides a reconciliation of the amounts of net (loss) income available to common stockholders and shares of common stock used in calculating basic EPS:

	Year Ended December 31,
	2012			2011				2010
	(In thousands)
(Loss) income from continuing operations	$	(6,755	)	$	26,899			$	6,146
Net (income) loss attributable to noncontrolling interests	(10,702		)	(9,630		)		254
(Loss) income from continuing operations attributable to Equity One, Inc.	(17,457		)	17,269				6,400
Allocation of continuing income to restricted share awards and to Class A    common stockholder	(1,082		)	(1,169		)		(280		)
(Loss) income from continuing operations attributable to common    stockholders	(18,539		)	16,100				6,120
Income from discontinued operations	13,980			16,319				18,273
Net loss attributable to noncontrolling interests	—			33				439
Income from discontinued operations attributable to Equity One, Inc.	13,980			16,352				18,712
Allocation of discontinued income to restricted share awards and to    Class A common stockholder	(150		)	(196		)		(66		)
Income from discontinued operations attributable to common stockholders	13,830			16,156				18,646
Net (loss) income available to common stockholders	$	(4,709	)	$	32,256			$	24,766
Weighted average shares outstanding – Basic	114,233			110,099				91,536
Basic (loss) earnings per share attributable to the common stockholders:
Continuing operations	$	(0.16	)	$	0.15			$	0.07
Discontinued operations	0.12			0.15				0.20
(Loss) earnings per common share — Basic	$	(0.04	)	$	0.29		*	$	0.27

* Note: EPS does not foot due to the rounding of the individual calculations.

Summary of Calculation of Diluted EPS and Reconciliation of Net Income Available to Shareholders

The following summarizes the calculation of diluted EPS and provides a reconciliation of the amounts of net (loss) income available to common stockholders and shares of common stock used in calculating diluted EPS:

	Year Ended December 31,
	2012			2011				2010
	(In thousands)
(Loss) income from continuing operations	$	(6,755	)	$	26,899			$	6,146
Net (income) loss attributable to noncontrolling interests	(10,702		)	(9,630		)		254
(Loss) income from continuing operations attributable to Equity One, Inc.	(17,457		)	17,269				6,400
Allocation of continuing income to restricted share awards and to    Class A common stockholder	(1,082		)	(1,169		)		(280		)
Allocation of earnings associated with DIM contingent shares	—			—				(91		)
(Loss) income from continuing operations attributable to common    stockholders	(18,539		)	16,100				6,029
Income from discontinued operations	13,980			16,319				18,273
Net loss attributable to noncontrolling interests	—			33				439
Income from discontinued operations attributable to Equity One, Inc.	13,980			16,352				18,712
Allocation of discontinued income to restricted share awards and to    Class A common stockholder	(136		)	(178		)		(66		)
Income from discontinued operations attributable to common    stockholders	13,844			16,174				18,646
Net (loss) income available to common stockholders	$	(4,695	)	$	32,274			$	24,675
Weighted average shares outstanding – Basic	114,233			110,099				91,536
Stock options using the treasury method	—			142				102
Contingent shares to be issued for DIM stock	—			—				72
Weighted average shares outstanding – Diluted	114,233			110,241				91,710
Diluted (loss) earnings per share attributable to common stockholders:
Continuing operations	$	(0.16	)	$	0.15			$	0.07
Discontinued operations	0.12			0.15				0.20
(Loss) earnings per common share — Diluted	$	(0.04	)	$	0.29		*	$	0.27

* Note: EPS does not foot due to the rounding of the individual calculations.

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Share-Based Payment Plans (Summary Of Assumptions For Estimation Of Fair Value Of Option Grant On The Grant Date Using The Black-Scholes-Merton Pricing Model) (Details)	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield, minimum		4.40%
Dividend yield, maximum		4.80%
Dividend yield	4.60%
Risk-free interest rate	2.70%
Risk-free interest rate, minimum		1.90%
Risk-free interest rate, maximum		2.90%
Expected volatility	30.20%
Expected volatility, minimum		28.60%
Expected volatility, maximum		30.70%
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected option life (years)	6 years	5 years 9 months
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected option life (years)	6 years 3 months	6 years 6 months

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Impairment (Narrative) (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Asset Impairment Charges [Abstract]
Goodwill impairment losses		$ 525	$ 968	$ 464
Goodwill impairments losses in discontinued operations		0	1,416	223
Land held for development		740	11,766	0
Properties held for use		21,507	6,424	0
Impairment loss on income producing properties held for sale or sold	$ 798	$ 6,669	$ 38,178	$ 223

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Other Assets (Composition Of Intangible Assets And Accumulated Amortization) (Details) (USD $)	12 Months Ended
	Dec. 31, 2012		Dec. 31, 2011		Dec. 31, 2010
Finite-Lived Intangible Assets [Line Items]
Total intangibles	$ 192,839,000		$ 135,806,000
Total accumulated amortization	62,158,000		43,273,000
Lease intangible assets, net	130,681,000		92,533,000
Net amortization expense related to lease intangibles	10,800,000		20,600,000		10,000,000
Intangible assets, amortization period, year one	18,600,000
Intangible assets, amortization period, year two	14,600,000
Intangible assets, amortization period, year three	11,800,000
Intangible assets, amortization period, year four	9,100,000
Intangible assets, amortization period, year five	7,200,000
Above-Market Leases [Member]
Finite-Lived Intangible Assets [Line Items]
Total intangibles	25,331,000		19,592,000
Total accumulated amortization	9,476,000		6,429,000
In-Place Lease Interests [Member]
Finite-Lived Intangible Assets [Line Items]
Total intangibles	124,356,000		107,696,000
Total accumulated amortization	48,258,000		33,295,000
Ground Lease [Member]
Finite-Lived Intangible Assets [Line Items]
Total intangibles	34,094,000	[1]	0	[1]
Total accumulated amortization	191,000	[1]	0	[1]
Lease Origination Costs [Member]
Finite-Lived Intangible Assets [Line Items]
Total intangibles	4,008,000		4,185,000
Total accumulated amortization	2,646,000		2,486,000
Lease Incentives [Member]
Finite-Lived Intangible Assets [Line Items]
Lease incentives	5,050,000		4,333,000
Accumulated amortization, Lease incentives	$ 1,587,000		$ 1,063,000

[1] Ground lease primarily related to the Darinor Plaza acquisition in 2012. Ground lease expires in 2076.

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Variable Interest Entities (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2012	Dec. 31, 2011
Approximate value of VIEs total assets	$ 167.4	$ 138.2
Approximate value of VIEs total liabilities	63.5	62.4
Non-recourse mortgage debt included in liabilities	45.7	45.7
Danbury and Southbury Green [Member]
Approximate value of VIEs total assets	111.1	109.2
Approximate value of VIEs total liabilities	$ 63.0	$ 61.9

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Borrowings (Narrative) (Details) (USD $)	12 Months Ended				12 Months Ended					0 Months Ended	12 Months Ended			12 Months Ended			12 Months Ended																							1 Months Ended
	Dec. 31, 2012 mortgages	Dec. 31, 2011	Dec. 31, 2010	Jul. 05, 2011	Dec. 31, 2012 Minimum [Member]	Dec. 31, 2011 Minimum [Member]	Dec. 31, 2012 Maximum [Member]	Dec. 31, 2011 Maximum [Member]	Dec. 31, 2012 City National Bank of Florida [Member]	Jan. 23, 2012 7.84% Senior Notes, Due 1/23/12 [Member]	Dec. 31, 2012 7.84% Senior Notes, Due 1/23/12 [Member]	Dec. 31, 2012 Unsecured Revolving Credit Facilities [Member]	Dec. 31, 2011 Unsecured Revolving Credit Facilities [Member]	Dec. 31, 2012 Unsecured Revolving Credit Facilities [Member] Minimum [Member]	Dec. 31, 2012 Unsecured Revolving Credit Facilities [Member] Maximum [Member]	Dec. 31, 2012 Unsecured Revolving Credit Facilities [Member] City National Bank of Florida [Member]	Dec. 31, 2012 Term Loan And Interest Rate Swaps [Member]	Dec. 31, 2012 Term Loan And Interest Rate Swaps [Member] First Draw [Member]	Dec. 31, 2012 Term Loan And Interest Rate Swaps [Member] Minimum [Member]	Dec. 31, 2012 Term Loan And Interest Rate Swaps [Member] Maximum [Member]	Dec. 31, 2012 Term Loan [Member]	Feb. 13, 2012 Term Loan [Member] First Draw [Member]	Jul. 12, 2012 Term Loan [Member] Second Draw [Member]	Oct. 25, 2012 Senior Unsecured Notes 3.75 Percent Due 2022 [Member] Unsecured Debt [Member]	Oct. 25, 2012 Senior Unsecured Notes 3.75 Percent Due 2022 [Member] Senior Notes [Member]	Oct. 25, 2012 Senior Notes 6.25 Percent Due 2014 [Member] Senior Notes [Member]	Nov. 24, 2012 Make-Whole Premium [Member]	Dec. 31, 2012 Fixed Rate Mortgage Loans [Member]	Dec. 31, 2011 Fixed Rate Mortgage Loans [Member]	Dec. 31, 2012 Liabilities, Assets Held for Sale [Member] Fixed Rate Mortgage Loans [Member]	Dec. 31, 2011 Liabilities, Assets Held for Sale [Member] Fixed Rate Mortgage Loans [Member]	Dec. 31, 2012 1225 -1239 Second Avenue [Member] New York [Member]		Dec. 31, 2012 Darinor Plaza [Member] Norwalk [Member]		Dec. 31, 2011 CapCo [Member]	Dec. 31, 2011 Series of Individually Immaterial Business Acquisitions [Member]	Dec. 31, 2011 Series of Individually Immaterial Business Acquisitions [Member] Minimum [Member]	Dec. 31, 2011 Series of Individually Immaterial Business Acquisitions [Member] Maximum [Member]	Dec. 31, 2012 Scenario, Forecast [Member] Unsecured Revolving Credit Facilities [Member]	Dec. 31, 2012 Scenario, Forecast [Member] Term Loan [Member] First Draw [Member]	Dec. 31, 2012 Scenario, Forecast [Member] Term Loan [Member] Second Draw [Member]
Debt Instrument [Line Items]
Mortgage notes payable	$ 439,156,000	$ 459,677,000																												$ 2,800,000	$ 39,400,000						$ 121,200,000
Weighted-average interest rate of fixed rate mortgage notes	5.02%	6.06%																										6.09%	6.16%	6.85%	5.91%					6.18%
Mortgage Loans Prepaid Without Penalty Amount	57,000,000	146,800,000
Mortgage loans prepaid without penalty, weighted-average interest rate	6.61%	6.33%			5.37%		6.33%
Number of Mortgages Assumed	2
Business Acquisition, Purchase Price Allocation, Liabilities Assumed	35,451,000	121,200,000																														16,686,000	[1]	18,765,000	[1],[2]	172,000,000
Repayments of unsecured debt										10,000,000
Debt instrument, interest rate, stated percentage										7.84%	7.84%													3.75%		6.25%
Make Whole Preemium and Deferred Fees, Extinguishment of Debt	29,600,000
Debt Instrument, Redemption Amount																											27,800,000
Debt Instrument, Face Amount																									300,000,000	250,000,000
Maximum amount under lines of credit												575,000,000				15,000,000
One month, LIBOR floor percentage on loan receivable				0.75%										1.00%
Unsecured revolving credit facilities	172,000,000	138,000,000										172,000,000	138,000,000
Line of Credit Facility, Commitment Fee Percentage														0.175%	0.45%																									0.25%
Drawings against amended facility, Percentage												1.77%	1.85%
Facility fee												0.30%
Availability under credit facility												496,800,000
Term loan	250,000,000																				250,000,000	200,000,000
Debt Instrument, Interest Rate, Effective Percentage																																									3.26%	2.80%
Term loan expiration date																	Feb. 13, 2019
Margin, percentage above LIBOR															1.85%	1.55%	1.90%		1.50%	2.35%
Line of credit facility, interest rate during period												1.55%						3.46%																						1.25%
Derivative, Fixed Interest Rate																							3.00%
Derivative, Amount of Hedged Item																							50,000,000
Derivative Liability, Fair Value, Gross Asset																	7,000,000
Debt Instrument, Offer Price, Percentage																								99.591%
Debt Instrument, Yield To Maturity																								3.799%
Debt Instrument, Maturity Date		Nov. 15, 2019				Feb. 05, 2015		Oct. 10, 2028			Jan. 23, 2012
Mortgage Payments Based On The Year						25 years		30 years
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate																																						5.20%	5.85%
Interest Expense, Debt, Excluding Amortization	80,500,000	86,600,000	77,300,000
Interest Paid, Capitalized	4,700,000	2,300,000	2,200,000
Percentage Of Borrowings On Lender Commitments												50.00%
Swing Line Facility For Short Term Borrowings												50,000,000
Line Of Credit Facility Letter Of Credit Commitment Fee												50,000,000
Multicurrency Subfacility												$ 61,300,000
Line of Credit Facility, Expiration Date	Sep. 30, 2015								Aug. 07, 2013

[1] The purchase price has been preliminarily allocated to real estate assets acquired and liabilities assumed, as applicable, in accordance with our accounting policies for business combinations. The purchase price and related accounting will be finalized after our valuation studies are complete.

[2] Property is subject to a ground lease which expires in 2076.

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Impairment (Summary Of The Impairment Loss) (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Goodwill		$ 525	$ 968	$ 464
Land held for development		740	11,766	0
Properties held for use		21,507	6,424	0
Impairment loss recognized in continuing operations	18,824	22,772	19,158	464
Goodwill impairments losses in discontinued operations		0	1,416	223
Impairment loss recognized in discontinued operations	798	6,669	38,178	223
Total impairment loss		29,441	57,336	687
Properties Held For Sale Or Sold [Member]
Impairment loss recognized in discontinued operations		$ 6,669	$ 36,762	$ 0

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Acquisition Of A Controlling Interest In CapCo (Narrative) (Details) (USD $)	12 Months Ended								12 Months Ended
	Dec. 31, 2012 property sqft	Dec. 31, 2011	Dec. 31, 2010	Jan. 04, 2011 sqft property	Dec. 31, 2012 LIH [Member]	Dec. 31, 2011 LIH [Member]	Jan. 04, 2011 LIH [Member]	Dec. 31, 2011 Equity One, Inc. [Member]	Dec. 31, 2011 CapCo [Member]	Dec. 31, 2010 CapCo [Member]	Dec. 31, 2011 Class A [Member]	Jun. 29, 2011 Class A [Member]	Dec. 31, 2011 Class B [Member]	Dec. 31, 2011 Personal [Member]	Dec. 31, 2011 Individual [Member]
Business Acquisition [Line Items]
Number of Real Estate Properties	168			13
Square feet of gross leasable area	16,900,000			2,600,000
Interest in joint venture						22.00%		78.00%			70.00%
Shared promissory note to joint venture		$ 600,000,000
Additional promissory note to joint venture		84,300,000											84,300,000
Joint venture shares entitled to preferred return													1.50%
Remaining available cash preferred return paid						5.00%		95.00%			16.667%		83.333%
Transferred outstanding promissory note									67,000,000
Transferred outstanding promissory note shares									4,100,000
Common Stock, Amount Transferred		73,700,000
Common stock	116,938,000	112,599,000										10,000
Dividends declared					10,000,000	9,500,000
Fair market value of shares		29.00%
Outstanding shares of capital stock														9.90%	5.00%
Common stock transferred		73,698,000
Fair value of noncontrolling interest		206,145,000		206,145,000
Common stock closing market price							$ 18.15
Acquisition-related costs		1,900,000							7,200,000	5,300,000
Fair values less costs to sell held for sale	36,300,000
Fair value of net assets acquired		310,404,000
Gain on Purchase of Business		$ 30,561,000

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Income Taxes

12 Months Ended

Dec. 31, 2012

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

We elected to be taxed as a REIT under the Code, commencing with our taxable year ended December 31, 1995. To qualify as a REIT, we must meet a number of organizational and operational requirements, including a requirement that we currently distribute at least 90% of our REIT taxable income to our stockholders. The difference between net income available to common stockholders for financial reporting purposes and taxable income before dividend deductions relates primarily to temporary differences, such as real estate depreciation and amortization, deduction of deferred compensation and deferral of gains on sold properties utilizing like kind exchanges. Also, at least 95% of our gross income in any year must be derived from qualifying sources. It is our intention to adhere to the organizational and operational requirements to maintain our REIT status. As a REIT, we generally will not be subject to corporate level federal income tax, provided that distributions to our stockholders equal at least the amount of our REIT taxable income as defined under the Code. We distributed sufficient taxable income for the year ended December 31, 2012; therefore, we anticipate that no federal income or excise taxes will be incurred. We distributed sufficient taxable income for the years ended December 31, 2011 and 2010; therefore, no federal income or excise taxes were incurred. If we fail to qualify as a REIT in any taxable year, we will be subject to federal income taxes at regular corporate rates (including any applicable alternative minimum tax) and may not be able to qualify as a REIT for four subsequent taxable years. Even if we qualify for taxation as a REIT, we may be subject to state income or franchise taxes in certain states in which some of our properties are located and excise taxes on our undistributed taxable income. We are required to pay U.S. federal and state income taxes on our net taxable income, if any, from the activities conducted by our taxable REIT subsidiaries (“TRSs”). Accordingly, the only provision for federal income taxes in our consolidated financial statements relates to our consolidated TRSs.

Further, we believe that we have appropriate support for the tax positions taken on our tax returns and that our accruals for tax liabilities are adequate for all years still subject to tax audit after 2008 as all years prior to 2008 are closed.

The following table reconciles GAAP net income to taxable income:

	Year Ended December 31,
	2012			2011			2010
	(Estimated)			(Actual)			(Actual)
	(In thousands)
GAAP net (loss) income attributable to Equity One	$	(3,477	)	$	33,621		$	25,112
Net loss attributable to taxable REIT subsidiaries	4,964			63,319			7,842
GAAP net income from REIT operations	1,487			96,940			32,954
Book/tax differences:
Joint ventures	4,964			(2,671		)	(1,929		)
Depreciation	7,135			6,952			3,236
Sale of property	(925		)	(44,819		)	(1,386		)
Bargain purchase gain	—			(30,561		)	—
Exercise of stock options and restricted shares	6,390			4,506			4,928
Interest expense	3,152			1,002			(180		)
Deferred/prepaid/above and below-market rents, net	(2,388		)	(1,711		)	318
Impairment loss	21,511			14,866			525
Amortization	144			(84		)	842
Acquisition costs	1,941			5,982			7,057
Other, net	(1,458		)	53			26
Inclusion from foreign taxable REIT subsidiary	—			10,502			—
Adjusted taxable income(1)	$	41,953		$	60,957		$	46,391

^{______________________________________________} 

⁽¹⁾  Adjusted taxable income subject to 90% dividend requirements.

The following summarizes the tax status of dividends paid:

	Year Ended December 31,
	2012			2011			2010
Dividend paid per share	$	0.88		$	0.88		$	0.88
Ordinary income	43.72		%	51.80		%	50.74		%
Return of capital	54.10		%	39.13		%	47.08		%
Capital gains	2.18		%	9.07		%	2.18		%

Taxable REIT Subsidiaries (“TRS”)

We are subject to federal, state and local income taxes on the income from our TRS activities, which include IRT Capital Corporation II (“IRT”), Southeast US Holdings, BV (“Southeast”), DIM, MCC Redondo Beach II, LLC and C&C Delaware, Inc. At December 31, 2012, Southeast owned an economic interest in DIM of 97.8%. Although DIM is organized under the laws of the Netherlands, it pays U.S. corporate income tax based on its operations in the United States. Pursuant to the tax treaty between the U.S. and the Netherlands, DIM is entitled to the avoidance of double taxation on its U.S. income. Thus, it pays virtually no income taxes in the Netherlands.

Income taxes have been provided for on the asset and liability method as required by the Income Taxes Topic of the FASB ASC. Under the asset and liability method, deferred income taxes are recognized for the temporary differences between the financial reporting bases and the tax bases of the TRS assets and liabilities. A deferred tax asset valuation allowance is recorded when it has been determined that it is more-likely-than-not that the deferred tax asset will not be realized. If a valuation allowance is needed, a subsequent change in circumstances in future periods that causes a change in judgment about the realization of the related deferred tax amount could result in the reversal of the deferred tax valuation allowance.

Our total pre-tax losses and income tax benefits relating to our TRS and taxable entities which have been consolidated for accounting reporting purposes are summarized as follows:

	Year Ended December 31,
	2012			2011			2010
	(In thousands)
U.S. loss before income taxes	$	(7,452	)	$	(97,219	)	$	(9,265	)
Foreign loss before income taxes	(15		)	(739		)	(2,342		)
Total loss before income taxes	(7,467		)	(97,958		)	(11,607		)
Less income tax benefit (provision):
Current federal and state	72			(405		)	430
Deferred federal and state	2,431			35,044			3,335
Total income tax benefit	2,503			34,639			3,765
Net loss from taxable REIT subsidiaries	$	(4,964	)	$	(63,319	)	$	(7,842	)

Our total pre-tax losses for continuing operations and income tax benefits for continuing operations included above relating to our TRS and taxable entities which have been consolidated for accounting reporting purposes are summarized as follows:

	Year Ended December 31,
	2012			2011			2010
	(In thousands)
U.S. (loss) income before income taxes	$	(7,452	)	$	11,794		$	8,765
Foreign loss before income taxes	(15		)	(739		)	(2,342		)
Total (loss) income before income taxes	(7,467		)	11,055			6,423
Less income tax benefit (provision):
Current federal and state	72			(97		)	430
Deferred federal and state	2,431			5,161			1,294
Total income tax benefit	2,503			5,064			1,724
Net (loss) income from taxable REIT subsidiaries	$	(4,964	)	$	16,119		$	8,147

We recorded an income tax benefit from discontinued operations of $29.6 million and $2.0 million during the years ended December 31, 2011 and 2010, respectively. There was no income tax benefit from discontinued operations during the year ended December 31, 2012. The tax benefits recorded related to discontinued operations are primarily attributable to the reversal of a deferred tax liability associated with properties held for sale by DIM and IRT and, to a lesser extent, by net operating losses.

The total income tax benefit differs from the amount computed by applying the statutory federal income tax rate to net (loss)/income before income taxes as follows:

	Year Ended December 31,
	2012			2011			2010
	(In thousands)
Federal benefit at statutory tax rate (1)	$	2,616		$	34,205		$	4,040
State taxes, net of federal benefit	272			3,187			406
Adjustment to DIM gain	—			(3,315		)	—
Foreign tax rate differential	(7		)	(2		)	(48		)
Other	(370		)	574			(622		)
Valuation allowance increase	(8		)	(10		)	(11		)
Total income tax benefit	$	2,503		$	34,639		$	3,765

^{______________________________________________} 

⁽¹⁾  Rate of 34% or 35% used, dependent on the projected taxable income levels of our TRSs.

The income tax benefit for continuing operations differs from the amount computed by applying the statutory federal income tax rate to net (loss)/income before income taxes as follows:

	Year Ended December 31,
	2012			2011			2010
	(In thousands)
Federal benefit at statutory tax rate (1)	$	2,616		$	3,869		$	2,248
State taxes, net of federal benefit	272			442			257
Foreign tax rate differential	(7		)	(2		)	(48		)
Other	(370		)	765			(722		)
Valuation allowance increase	(8		)	(10		)	(11		)
Total income tax benefit	$	2,503		$	5,064		$	1,724

^{______________________________________________} 

⁽¹⁾ Rate of 35% used.

Our deferred tax assets and liabilities were as follows:

	December 31
	2012			2011
	(In thousands)
Deferred tax assets:
Disallowed interest	$	2,903		$	3,034
Net operating loss	3,216			3,473
Other	138			212
Valuation allowance	(213		)	(205		)
Total deferred tax assets	6,044			6,514
Deferred tax liabilities:
Other real estate investments	(13,828		)	(16,532		)
Mortgage revaluation	(1,005		)	(1,233		)
Other	(259		)	(229		)
Total deferred tax liabilities	(15,092		)	(17,994		)
Net deferred tax liability	$	(9,048	)	$	(11,480	)

At December 31, 2012, the net deferred tax liability of $9.0 million consisted of a $3.0 million deferred tax asset associated with IRT included in other assets in the accompanying consolidated balance sheet and a $12.0 million deferred tax liability associated with DIM. At December 31, 2011 the net deferred tax liability of $11.5 million consisted of a $3.2 million deferred tax asset associated with IRT included in other assets in the accompanying consolidated balance sheet and a $14.7 million deferred tax liability associated with DIM.

The tax deduction for interest paid by the TRS to the REIT is subject to certain limitations pursuant to U.S. federal tax law. Such interest may only be deducted in any tax year in which the TRS’ income exceeds certain thresholds. Such disallowed interest may be carried forward and utilized in future years, subject to the same limitation. At December 31, 2012, IRT had approximately $7.7 million of disallowed interest carry forwards, with a tax value of $2.9 million. This carry forward does not expire. IRT expects to realize the benefits of its net deferred tax assets of approximately $3.0 million as of December 31, 2012, primarily from identified tax planning strategies, as well as projected taxable income. Southeast had a net operating loss carry forward of $834,000 at December 31, 2012, which begins to expire in 2016. A valuation allowance of $213,000 is provided for this asset. As of December 31, 2012, DIM had federal and state net operating loss carry forwards of approximately $5.9 million and $5.0 million, respectively, which begin to expire in 2027. As of December 31, 2012, IRT had federal and state net operating loss carry forwards of approximately $1.3 million and $1.7 million, respectively, which begin to expire in 2030.

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Accounts And Other Receivables (Tables)

12 Months Ended

Dec. 31, 2012

Accounts Receivable, Net [Abstract]

Accounts And Other Receivables

The following table is a summary of the composition of accounts and other receivables in the consolidated balance sheets:

	December 31,
	2012			2011
	(In thousands)
Tenants	$	14,354		$	18,110
Other	3,148			4,945
Allowance for doubtful accounts	(3,182		)	(5,265		)
Total accounts and other receivables, net	$	14,320		$	17,790

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Mortgage Loans On Real Estate

12 Months Ended

Dec. 31, 2012

Mortgage Loans on Real Estate [Abstract]

Mortgage Loans On Real Estate

SCHEDULE IV

Equity One, Inc.

MORTGAGE LOANS ON REAL ESTATE

Type of Loan	Description	Location	Interest Rate		Final Maturity Date	Periodic Payment Terms	Prior Liens		Face Amount of Mortgages		Carrying Amount of Mortgages
									(In thousands)
Mezzanine Loan	Shopping Center	California	9.21	%	7/9/2016	Interest only	$	—	$	45,000	$	45,223
Mortgage Loan	Retail/Housing	Maryland	5.00	%	1/15/2014	Interest only	—		$	95,000	$	95,485
Totals							$	—	$	140,000	$	140,708

	2012			2011			2010
	(In thousands)
Reconciliation of loans on real estate:
Balance at beginning of year	$	45,279		$	—		$	—
Additions during year:
New loans, including capitalized costs	114,518			45,114			—
Accrued interest	2,277			196			—
	116,795			45,310			—
Deductions during year:
Collection of principal	(19,258		)	—			—
Collection of interest	(2,000		)	(28		)	—
Amortization of capitalized costs	(108		)	(3		)	—
	(21,366		)	(31		)	—
Balance at end of year	$	140,708		$	45,279		$	—

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Property Dispositions (Components of Income and Expense Relating to Discontinued Operations) (Details) (USD $) In Thousands, unless otherwise specified	1 Months Ended	3 Months Ended	12 Months Ended
	Oct. 31, 2012	Dec. 31, 2012	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Impairment loss on income producing properties held for sale or sold		$ (798)	$ (6,669)	$ (38,178)	$ (223)
Gain on disposal of income producing properties			16,588	4,407	2,257
Loss on extinguishment of debt	(1,100)
Income tax benefit from discontinued operations				29,575	2,041
INCOME FROM DISCONTINUED OPERATIONS			13,980	16,319	18,273
Net loss attributable to noncontrolling interests - discontinued operations				33	439
Income from discontinued operations attributable to Equity One, Inc.			13,980	16,352	18,712
Segment, Discontinued Operations [Member]
Impairment loss on income producing properties held for sale or sold			(6,669)	(38,178)	(223)
Rental revenue			11,894	71,656	67,350
Property operating expenses			3,521	20,222	18,237
Rental property depreciation and amortization			2,305	14,881	19,676
General and administrative expenses			13	57	55
Operations of income producing property			6,055	36,496	29,382
Interest expense			(993)	(16,460)	(15,188)
Equity in income in unconsolidated joint ventures				704	0
Gain on disposal of income producing properties			16,588	4,407	2,257
Loss on extinguishment of debt			(1,449)	(221)	30
Income tax benefit from discontinued operations				29,575	2,041
Other income (loss)			448	(4)	(26)
INCOME FROM DISCONTINUED OPERATIONS			13,980	16,319	18,273
Net loss attributable to noncontrolling interests - discontinued operations				33	439
Income from discontinued operations attributable to Equity One, Inc.			$ 13,980	$ 16,352	$ 18,712

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Income Taxes (Pre-Tax Earnings From Continuing Operations And Provision For Income Taxes) (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Income Tax Contingency [Line Items]
U.S. income (loss) before income taxes	$ (7,452)	$ (97,219)	$ (9,265)
Foreign (loss) income before income taxes	(15)	(739)	(2,342)
Total income (loss) before income taxes	(7,467)	(97,958)	(11,607)
Current federal and state	72	(405)	430
Deferred federal and state	2,431	35,044	3,335
Total income tax benefit	2,503	5,064	1,724
Net (loss) income from taxable REIT subsidiaries	(4,964)	(63,319)	(7,842)
Continuing Operations [Member]
Income Tax Contingency [Line Items]
U.S. income (loss) before income taxes	(7,452)	11,794	8,765
Foreign (loss) income before income taxes	(15)	(739)	(2,342)
Total income (loss) before income taxes	(7,467)	11,055	6,423
Current federal and state	72	(97)	430
Deferred federal and state	2,431	5,161	1,294
Total income tax benefit	2,503	5,064	1,724
Net (loss) income from taxable REIT subsidiaries	$ (4,964)	$ 16,119	$ 8,147

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Related Parties

12 Months Ended

Dec. 31, 2012

Related Party Transactions [Abstract]

Related Parties

Related Parties

Refer to Note 18 for a discussion of the private placements during 2012 and 2011 to MGN (USA), Inc., an affiliate of our largest stockholder, Gazit.

We received rental income from affiliates of Gazit of approximately $339,000, $271,000 and $324,000 for the years ended December 31, 2012, 2011 and 2010, respectively.

General and administrative expenses incurred by us on behalf of Gazit, which are reimbursed, totaled approximately $758,000, $567,000 and $636,000 for the years ended December 31, 2012, 2011 and 2010, respectively. The balance due from Gazit, which is included in accounts and other receivables, was approximately $476,000 and $126,000 at December 31, 2012 and 2011, respectively. The amount due at December 31, 2012 was paid in full in February 2013.

We reimbursed MGN Icarus, Inc., an affiliate of Gazit, for certain travel expenses incurred by the Chairman of our Board of Directors. The amounts reimbursed totaled approximately $243,000, $137,000 and $346,000 for the years ended December 31, 2012, 2011 and 2010, respectively.

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Goodwill (Tables)

12 Months Ended

Dec. 31, 2012

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill Activity

The following table provides a summary of goodwill activity in the consolidated balance sheets:

	December 31,
	2012			2011
	(In thousands)
Balance at beginning of period	$	7,957		$	8,925
Impairment	(525		)	(968		)
Allocated to property sale	(6		)	—
Balance at end of period	$	7,426		$	7,957

Goodwill By Segment

The following table presents goodwill by segment for the years ended December 31, 2012 and 2011:

	December 31,
	2012		2011
	(In thousands)
South Florida	$	2,028	$	2,028
North Florida	1,546		1,546
Southeast	3,852		4,383
Total	$	7,426	$	7,957

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Summary of Significant Accounting Policies (Estimated Useful Lives Of The Assets) (Details)	12 Months Ended
	Dec. 31, 2012
Summary Of Significant Accounting Policies [Line Items]
Tenant improvements	Lesser of minimum lease term or economic useful life
Minimum [Member] | Buildings [Member]
Summary Of Significant Accounting Policies [Line Items]
Estimated useful life of assets, minimum (in years)	30 years
Minimum [Member] | Buildings And Land Improvements [Member]
Summary Of Significant Accounting Policies [Line Items]
Estimated useful life of assets, minimum (in years)	2 years
Minimum [Member] | Furniture And Equipment [Member]
Summary Of Significant Accounting Policies [Line Items]
Estimated useful life of assets, minimum (in years)	5 years
Maximum [Member] | Buildings [Member]
Summary Of Significant Accounting Policies [Line Items]
Estimated useful life of assets, minimum (in years)	55 years
Maximum [Member] | Buildings And Land Improvements [Member]
Summary Of Significant Accounting Policies [Line Items]
Estimated useful life of assets, minimum (in years)	40 years
Maximum [Member] | Furniture And Equipment [Member]
Summary Of Significant Accounting Policies [Line Items]
Estimated useful life of assets, minimum (in years)	7 years

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Share-Based Payment Plans (Summary Of Restricted Stock Activity) (Details) (USD $)	12 Months Ended
	Dec. 31, 2012		Dec. 31, 2011
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Unvested Shares, Unvested at beginning of the period	1,178,000
Unvested Shares, Granted	72,000
Unvested Shares, Vested	(271,000)		(31,250)
Unvested Shares, Forfeited	(4,000)
Unvested Shares, Unvested at end of the period	975,380	[1]	1,178,000
Weighted-Average Price, Unvested at beginning of the period (in usd per share)	$ 17.23
Weighted-Average Price, Granted (in usd per share)	$ 18.85
Weighted-Average Price, Vested	$ 18.06
Weighted-Average Price, Forfeited (in usd per share)	$ 19.25
Weighted-Average Price, Unvested at end of the period (in usd per share)	$ 17.11		$ 17.23

[1] Does not include 800,000 shares of restricted stock awarded to certain executives which are subject to performance vesting conditions and are not entitled to vote or receive dividends during the performance period as discussed below.

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Commitments and Contingencies Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2012

Commitments and Contingencies Disclosure [Abstract]

Schedule of Future Minimum Rental Payments for Operating Leases

At December 31, 2012, minimum annual payments under non-cancellable operating leases are as follows:

Year Ending December 31,	Amount
	(In thousands)
2013	$	1,219
2014	1,191
2015	1,156
2016	1,082
2017	1,074
Thereafter	18,466
Total	$	24,188

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Acquisition Of A Controlling Interest In CapCo (Tables)

12 Months Ended

Dec. 31, 2012

Acquisition Of A Controlling Interest In CapCo [Abstract]

Reconciliation Of Gain On Bargain Purchase

The following table provides a reconciliation of the gain on bargain purchase (in thousands):

Fair value of net assets acquired	$	310,404
Fair value of consideration transferred	(73,698		)
Fair value of noncontrolling interest	(206,145		)
Gain on bargain purchase	$	30,561

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Condensed Consolidated Statements of Cash Flows (Parenthetical) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Capitalized interest	$ 4.7	$ 2.3	$ 2.2

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Commitments and Contingencies (Narrative) (Details) (USD $)	12 Months Ended
	Dec. 31, 2012
Commitments and Contingencies Disclosure [Abstract]
Aggregate face amount of letters of credit pledged	$ 1,800,000
Investment in development or redevelopment projects	169,600,000
Additional investment required to complete the project	91,500,000
Commitments And Contingencies Expense Period	3 years
Litigation settlement	$ 525,000

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Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2012

Fair Value Disclosures [Abstract]

Assets Measured and Recorded at Fair Value on a Recurring Basis

The following table presents our hierarchy for those liabilities measured and recorded at fair value on a recurring basis as of December 31, 2012:

	Fair Value Measurements
	Total		Level 1		Level 2		Level 3
	(In thousands)
Liabilities:
Interest rate swaps	$	6,954	$	—	$	6,954	$	—

Fair Value, Assets Measured on Recurring and Nonrecurring Basis

The following table presents our hierarchy for those assets measured and recorded at fair value on a non-recurring basis during the year ended December 31, 2012:

Assets:	Total		Level 1		Level 2		Level 3		Total Losses
	(In thousands)
Operating properties held and used (1)	$	19,800	$	—	$	—	$	19,800	$	21,507
Operating properties held for sale (1)	19,100		—		15,340		3,760		6,669
Development properties held and used (1)	12,510		—		—		12,510		740
Total	$	51,410	$	—	$	15,340	$	36,070	$	28,916

⁽¹⁾ Represents real estate investments for which we have recorded an impairment loss during 2012.

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Subsequent Events (Details) (USD $)	Dec. 31, 2012	Dec. 31, 2011	Dec. 20, 2011 centers	Jan. 02, 2013 Subsequent Event [Member] properties	Dec. 31, 2012 Subsequent Event [Member]	Jan. 02, 2013 North Florida And Southeast [Member] Subsequent Event [Member]	Dec. 31, 2012 Southeast [Member] Subsequent Event [Member]
Subsequent Event [Line Items]
Number of real estate properties sold			36	8
Properties held for sale						$ 81,300,000
Mortgage Loans On Real Estate Carrying Amount Pre Paid				2,800,000
Interest rate of mortgage loan on real estate					6.85%
Property under contract to sell, net book value	$ 2,813,106,000	$ 2,552,828,000					$ 9,700,000

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Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2012

Accounting Policies [Abstract]

Use of Estimates

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”), requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.

Properties

Properties

Income producing properties are stated at cost, less accumulated depreciation and amortization. Costs include those related to acquisition, development and construction, including tenant improvements, interest incurred during development, costs of predevelopment and certain direct and indirect costs of development. Costs related to business combinations are expensed as incurred, and are included in general and administrative expenses in our consolidated statements of operations.

Depreciation and amortization is computed using the straight-line method over the estimated useful lives of the assets as follows:

Buildings	30-55 years
Buildings and land improvements	2-40 years
Tenant improvements	Lesser of minimum lease term or economic useful life
Furniture and equipment	5-7 years

Expenditures for ordinary maintenance and repairs are expensed to operations as they are incurred. Significant renovations and improvements that improve or extend the useful lives of assets are capitalized.

Business Combinations

Business Combinations

We allocate the purchase price of acquired properties to land, building, improvements and intangible assets and liabilities in accordance with the Business Combinations Topic of the FASB ASC. We allocate the initial purchase price of assets acquired (net tangible and identifiable intangible assets) and liabilities assumed based on their relative fair values at the date of acquisition. Upon acquisition of real estate operating properties, we estimate the fair value of acquired tangible assets (consisting of land, building, building improvements and tenant improvements) and identified intangible assets and liabilities (consisting of above and below-market leases, in-place leases and tenant relationships), assumed debt and redeemable units issued at the date of acquisition, based on the evaluation of information and estimates available at that date. Based on these estimates, we allocate the estimated fair value to the applicable assets and liabilities. Fair value is determined based on an exit price approach, which contemplates the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. If, up to one year from the acquisition date, information regarding fair value of the assets acquired and liabilities assumed is received and estimates are refined, appropriate adjustments are made to the purchase price allocation on a retrospective basis. There are four categories of intangible assets and liabilities to be considered: (1) in-place leases; (2) above and below-market value of in-place leases; (3) lease origination costs and (4) customer relationships. The aggregate value of other acquired intangible assets, consisting of in-place leases, is measured by the excess of (i) the purchase price paid for a property after adjusting existing in-place leases, including fixed rate renewal options, to market rental rates over (ii) the estimated fair value of the property as-if-vacant, determined as set forth above. The value of in-place leases exclusive of the value of above-market and below-market in-place leases is amortized to depreciation expense over the estimated remaining term of the respective leases. The value of above-market and below-market in-place leases is amortized to rental revenue over the estimated remaining term of the leases. If a lease terminates prior to its stated expiration, all unamortized amounts relating to that lease are written off.

In allocating the purchase price to identified intangible assets and liabilities of an acquired property, the value of above-market and below-market leases is estimated based on the present value of the difference between the contractual amounts, including fixed rate renewal options, to be paid pursuant to the leases and management’s estimate of the market lease rates and other lease provisions (i.e., expense recapture, base rental changes, etc.) measured over a period equal to the estimated remaining term of the lease. The capitalized above-market or below-market intangible is amortized to rental income over the estimated remaining term of the respective lease, which includes the expected renewal option period, if applicable.

The results of operations of acquired properties are included in our financial statements as of the dates they are acquired. The intangible assets and liabilities associated with property acquisitions are included in other assets and other liabilities in our consolidated balance sheets.

Construction In Progress And Land Held For Development

Construction in Progress and Land Held for Development

Properties also include construction in progress and land held for development. These properties are carried at cost and no depreciation is recorded. Properties undergoing significant renovations and improvements are considered under development. All direct and indirect costs related to development activities are capitalized into construction in progress and land held for development on our consolidated balance sheets, except for certain demolition costs, which are expensed as incurred. Costs incurred include predevelopment expenditures directly related to a specific project including development and construction costs, interest, insurance and real estate taxes. Indirect development costs include employee salaries and benefits, travel and other related costs that are directly associated with the development of the property. Our method of calculating capitalized interest is based upon applying our weighted average borrowing rate to the actual costs incurred. The capitalization of such expenses ceases when the property is ready for its intended use, but no later than one-year from substantial completion of major construction activity. If we determine that a project is no longer viable, all predevelopment project costs are immediately expensed. Similar costs related to properties not under development are expensed as incurred.

Long-lived Assets

Long-lived Assets

Properties Held and Used

We evaluate the carrying value of long-lived assets, including definite-lived intangible assets, when events or changes in circumstances indicate that the carrying value may not be recoverable in accordance with the Property, Plant and Equipment Topic of the FASB ASC. The carrying value of a long-lived asset is considered impaired when the total projected undiscounted cash flows from such asset is separately identifiable and is less than its carrying value. In that event, a loss is recognized based on the amount by which the carrying value exceeds the fair value of the long-lived asset. The fair value of fixed (tangible) assets and definite-lived intangible assets is determined primarily using either internal projected cash flows discounted at a rate commensurate with the risk involved or an external appraisal. At December 31, 2012, we reviewed the operating properties and construction in progress for impairment on a property-by-property and project-by-project basis in accordance with the Property, Plant and Equipment Topic of the FASB ASC, as we determined management's capital recycling initiatives and the fair values obtained from recent appraisals to be general indicators of impairment.

Each property was assessed individually and as a result, the assumptions used to derive future cash flows varied by property or project. These key assumptions are dependent on property-specific conditions, are inherently uncertain and consider the perspective of a third-party marketplace participant. The factors that may influence the assumptions include:

• historical project performance, including current occupancy, projected capitalization rates and net operating income;

• competitors’ presence and their actions;

• property specific attributes such as location desirability, anchor tenants and demographics;

• current local market economic and demographic conditions; and

• future expected capital expenditures and the period of time before net operating income is stabilized.

After considering these factors, we project future cash flows for each property based on management’s intention for that property (holding period) and, if appropriate, an assumed sale at the final year of the holding period (reversion value) using a projected capitalization rate. If the resulting carrying amount of the property exceeds the estimated undiscounted cash flows (including the projected reversion value) from the property, an impairment charge would be recognized to reduce the carrying value of the property to its fair value.

Properties Held for Sale

Properties held for sale are recorded at the lower of the carrying amount or the expected sales price less costs to sell. The sale or disposal of a “component of an entity” is treated as discontinued operations. The operating properties sold by us typically meet the definition of a component of an entity and as such the revenue and expenses associated with sold properties are reclassified to discontinued operations for all periods presented.

The application of current accounting principles that govern the classification of any of our properties as held-for-sale on the consolidated balance sheet, or the presentation of results of operations and gains or losses on the sale of these properties as discontinued, requires management to make certain significant judgments. In evaluating whether a property meets the criteria set forth by the Property, Plant and Equipment Topic of the FASB ASC, we make a determination as to the point in time that it is probable that a sale will be consummated. Given the nature of all real estate sales contracts, it is not unusual for such contracts to allow potential buyers a period of time to evaluate the property prior to formal acceptance of the contract. In addition, certain other matters critical to the final sale, such as financing arrangements often remain pending even upon contract acceptance. As a result, properties under contract may not close within the expected time period, or may not close at all. Therefore, any properties categorized as held-for-sale represent only those properties that management has determined are probable to close within the requirements set forth in the Property, Plant and Equipment Topic of the FASB ASC. Prior to sale, we evaluate the extent of involvement with, and the significance to us of cash flows from a property subsequent to its sale, in order to determine if the results of operations and gain or loss on sale should be reflected as discontinued. Consistent with the Property, Plant and Equipment Topic of the FASB ASC, any property sold in which we have continuing involvement or cash flows (typically sales to co-investment partnerships that we do not control and for which we have recognized a partial sale of real estate) is not considered to be discontinued. In addition, any property which we sell to an unrelated third party, but in which we retain a property or asset management function, is not considered discontinued. Therefore, based on our evaluation of the Property, Plant and Equipment Topic of the FASB ASC only properties sold, or to be sold, to unrelated third parties where we will have no continuing involvement or cash flows are classified as discontinued operations.

Cash and Cash Equivalents

Cash and Cash Equivalents

We consider liquid investments with a purchase date life to maturity of three months or less to be cash equivalents.

Cash Held In Escrow and Restricted Cash

Cash Held in Escrow and Restricted Cash

Cash held in escrow and restricted cash represents the cash proceeds of property sales that are being held by qualified intermediaries in anticipation of the acquisition of replacement properties in tax-free exchanges under Section 1031 of the Internal Revenue Code of 1986, as amended (the "Code") or cash that is not immediately available to us.

Accounts and Other Receivables

Accounts and Other Receivables

Accounts receivable includes amounts billed to tenants and accrued expense recoveries due from tenants. We make estimates of the uncollectability of our accounts receivable using the specific identification method. We analyze accounts receivable and historical bad debt levels, tenant credit-worthiness, payment history and industry trends when evaluating the adequacy of the allowance for doubtful accounts. Accounts receivable are written-off when they are deemed to be uncollectable and we are no longer actively pursuing collection. Our reported net income is directly affected by management’s estimate of the collectability of accounts receivable.

Investments in Joint Ventures

Investments in Joint Ventures

We analyze our joint ventures under the FASB ASC Topics of Consolidation and Real Estate-General in order to determine whether the entity should be consolidated. If it is determined that these investments do not require consolidation because the entities are not VIEs in accordance with the Consolidation Topic of the FASB ASC, we are not considered the primary beneficiary of the entities determined to be VIEs, we do not have voting control, and/or the limited partners (or non-managing members) have substantive participatory rights, then the selection of the accounting method used to account for our investments in unconsolidated joint ventures is generally determined by our voting interests and the degree of influence we have over the entity. Management uses its judgment when determining if we are the primary beneficiary of, or have a controlling financial interest in, an entity in which we have a variable interest. Factors considered in determining whether we have the power to direct the activities that most significantly impact the entity’s economic performance include risk and reward sharing, experience and financial condition of the other partners, voting rights, involvement in day-to-day capital and operating decisions and the extent of our involvement in the entity.

We use the equity method of accounting for investments in unconsolidated joint ventures when we own 20% or more of the voting interests and have significant influence but do not have a controlling financial interest, or if we own less than 20% of the voting interests but have determined that we have significant influence. Under the equity method, we record our investments in and advances to these entities in our consolidated balance sheets and our proportionate share of earnings or losses earned by the joint venture is recognized in equity in income (loss) of unconsolidated joint ventures in the accompanying consolidated statements of operations. We derive revenue through our involvement with unconsolidated joint ventures in the form of management and leasing services and interest earned on loans and advances. We account for this revenue gross of our ownership interest in each respective joint venture and record our proportionate share of related expenses in equity in income (loss) of unconsolidated joint ventures.

The cost method of accounting is used for unconsolidated entities in which we do not have the ability to exercise significant influence and we have virtually no influence over partnership operating and financial policies. Under the cost method, income distributions from the partnership are recognized in investment income. Distributions that exceed our share of earnings are applied to reduce the carrying value of our investment and any capital contributions will increase the carrying value of our investment. The fair value of a cost method investment is not estimated if there are no identified events or changes in circumstances that may have a significant adverse effect on the fair value of the investment.

These joint ventures typically obtain non-recourse third-party financing on their property investments, thus contractually limiting our exposure to losses to the amount of our equity investment, and, due to the lender’s exposure to losses, a lender typically will require a minimum level of equity in order to mitigate its risk. Our exposure to losses associated with unconsolidated joint ventures is primarily limited to the carrying value of these investments.

On a periodic basis, we evaluate our investments in unconsolidated entities for impairment in accordance with the Investments-Equity Method and Joint Ventures Topic of the FASB ASC. We assess whether there are any indicators, including underlying property operating performance and general market conditions, that the value of our investments in unconsolidated joint ventures may be impaired. An investment in a joint venture is considered impaired only if we determine that its fair value is less than the net carrying value of the investment in that joint venture on an other-than-temporary basis. Cash flow projections for the investments consider property level factors such as expected future operating income, trends and prospects, as well as the effects of demand, competition and other factors. We consider various qualitative factors to determine if a decrease in the value of our investment is other-than-temporary. These factors include age of the venture, our intent and ability to retain our investment in the entity, financial condition and long-term prospects of the entity and relationships with our partners and banks. If we believe that the decline in the fair value of the investment is temporary, no impairment charge is recorded. If our analysis indicates that there is an other-than-temporary impairment related to the investment in a particular joint venture, the carrying value of the venture will be adjusted to an amount that reflects the estimated fair value of the investment.

Loans Receivables

Loans Receivable

Loans receivable include both mortgage loans and mezzanine loans and are classified as held to maturity and recorded at the stated principal amount plus allowable deferred loan costs or fees, which are amortized as an adjustment of the loan’s yield over the term of the related loan. We evaluate the collectability of both interest and principal on the loan periodically to determine whether it is impaired. A loan is considered to be impaired when, based upon current information and events, it is probable that we will be unable to collect all amounts due according to the existing contractual terms. When a loan is considered to be impaired, the amount of loss is calculated by comparing the recorded investment to the value determined by discounting the expected future cash flows at the loan’s effective interest rate or to the proportionate value of the underlying collateral asset if applicable. Interest income on performing loans is accrued as earned.

Goodwill

Goodwill

Goodwill reflects the excess of the fair value of the acquired business over the fair value of net identifiable assets acquired in various business acquisitions. We account for goodwill in accordance with the Intangibles – Goodwill and Other Topic of the FASB ASC.

We perform annual, or more frequently in certain circumstances, impairment tests of our goodwill. We have elected to test for goodwill impairment in November of each year. The goodwill impairment test is a two-step process that requires us to make decisions in determining appropriate assumptions to use in the calculation. The first step consists of estimating the fair value of each reporting unit and comparing those estimated fair values with the carrying values, which include the allocated goodwill. If the estimated fair value is less than the carrying value, a second step is performed to compute the amount of the impairment, if any, by determining an “implied fair value” of goodwill. The determination of each reporting unit’s (each property is considered a reporting unit) implied fair value of goodwill requires us to allocate the estimated fair value of the reporting unit to its assets and liabilities. Any unallocated fair value represents the implied fair value of goodwill which is compared to its corresponding carrying amount.

Deposits

Deposits

Deposits included in other assets comprise funds held by various institutions for future payments of property taxes, insurance, improvements, utility and other service deposits.

Deferred Costs and Intangibles

Deferred Costs and Intangibles

Deferred costs, intangible assets included in other assets, and intangible liabilities included in other liabilities consist of loan origination fees, leasing costs and the value of intangible assets and liabilities when a property was acquired. Loan and other fees directly related to rental property financing with third parties are amortized over the term of the loan using the effective interest method. Direct salaries, third-party fees and other costs incurred by us to originate a lease are capitalized and are amortized against the respective leases using the straight-line method over the term of the related leases. Intangible assets consist of in-place lease values, tenant origination costs and above-market rents that were recorded in connection with the acquisition of the properties. Intangible liabilities consist of below-market rents that are also recorded in connection with the acquisition of properties. Both intangible assets and liabilities are amortized and accreted using the straight-line method over the term of the related leases. When a lease is terminated early, any remaining unamortized or unaccreted balances under lease intangible assets or liabilities are charged to earnings. The useful lives of amortizable intangible assets are evaluated each reporting period with any changes in estimated useful lives being accounted for over the revised remaining useful life.

Noncontrolling Interests

Noncontrolling Interests

Noncontrolling interests generally represent the portion of equity that we do not own in those entities that we consolidate. We account for and report our noncontrolling interests in accordance with the provisions required under the Consolidation Topic of the FASB ASC.

We identify our noncontrolling interests separately within the equity section on the consolidated balance sheets. Noncontrolling interests also include amounts related to joint venture units issued by consolidated subsidiaries or VIEs in connection with certain property acquisitions. Joint venture units which are redeemable for cash at the holder’s option or upon a contingent event outside of our control are classified as redeemable noncontrolling interests pursuant to the Distinguishing Liabilities from Equity Topic of the FASB ASC and are presented at redemption value in the mezzanine section between total liabilities and stockholders’ equity on the consolidated balance sheets. The amounts of consolidated net (loss) income attributable to Equity One, Inc. and to the noncontrolling interests are presented on the consolidated statements of operations.

Derivative Instruments and Hedging Activities

Derivative Instruments and Hedging Activities

At times, we may use derivative instruments to manage exposure to variable interest rate risk. We generally enter into interest rate swaps to manage our exposure to variable interest rate risk and treasury locks to manage the risk of interest rates rising prior to the issuance of debt. We enter into derivative instruments that qualify as cash flow hedges and do not enter into derivative instruments for speculative purposes. The interest rate swaps associated with our cash flow hedges are recorded at fair value on a recurring basis. We assess effectiveness of our cash flow hedges both at inception and on an ongoing basis. The effective portion of changes in fair value of the interest rate swaps associated with our cash flow hedges is recorded in accumulated other comprehensive loss and is subsequently reclassified into interest expense as interest is incurred on the related variable rate debt. Within the next 12 months, we expect to reclassify $3.1 million as an increase to interest expense. Our cash flow hedges become ineffective if critical terms of the hedging instrument and the debt instrument do not perfectly match such as notional amounts, settlement dates, reset dates, calculation period and LIBOR rate. In addition, we evaluate the default risk of the counterparty by monitoring the credit worthiness of the counterparty. When ineffectiveness exists, the ineffective portion of changes in fair value of the interest rate swaps associated with our cash flow hedges is recognized in earnings in the period affected. Hedge ineffectiveness has not impacted earnings in 2012, and we do not anticipate it will have a significant effect in the future. Derivative instruments and hedging activities require management to make judgments on the nature of its derivatives and their effectiveness as hedges. These judgments determine if the changes in fair value of the derivative instruments are reported in the consolidated statements of operations as a component of net (loss) income or as a component of comprehensive (loss) income and as a component of stockholders’ equity of Equity One, Inc. on the consolidated balance sheets. While management believes its judgments are reasonable, a change in a derivative’s effectiveness as a hedge could materially affect expenses, net income and equity. See Note 14 for further detail on derivative activity.

Revenue Recognition

Revenue Recognition

Revenue includes minimum rents, expense recoveries, percentage rental payments and management and leasing services. Minimum rents are recognized on an accrual basis over the terms of the related leases on a straight-line basis. As part of the leasing process, we may provide the lessee with an allowance for the construction of leasehold improvements. Leasehold improvements are capitalized and recorded as tenant improvements and depreciated over the shorter of the useful life of the improvements or the lease term. If the allowance represents a payment for a purpose other than funding leasehold improvements, or in the event we are not considered the owner of the improvements, the allowance is considered a lease incentive and is recognized over the lease term as a reduction to revenue. Factors considered during this evaluation include, among others, the type of improvements made, who holds legal title to the improvements, and other controlling rights provided by the lease agreement. Lease revenue recognition commences when the lessee is given possession of the leased space, when the asset is substantially complete in the case of leasehold improvements, and there are no contingencies offsetting the lessee’s obligation to pay rent.

Many of the lease agreements contain provisions that require the payment of additional rents based on the respective tenants’ sales volume (contingent or percentage rent) and substantially all contain provisions that require reimbursement of the tenants’ allocable real estate taxes, insurance and common area maintenance costs (“CAM”). Revenue based on percentage of tenants’ sales is recognized only after the tenant exceeds its sales breakpoint. Revenue from tenant reimbursements of taxes, CAM and insurance is recognized in the period that the applicable costs are incurred in accordance with the lease agreements.

We recognize gains or losses on sales of real estate in accordance with the Property, Plant and Equipment Topic of the FASB ASC. Profits are not recognized until (a) a sale has been consummated; (b) the buyer’s initial and continuing investments are adequate to demonstrate a commitment to pay for the property; (c) our receivable, if any, is not subject to future subordination; and (d) we have transferred to the buyer the usual risks and rewards of ownership, and we do not have a substantial continuing involvement with the property.

We are engaged by certain joint ventures to provide asset management, property management, leasing and investing services for such venture’s respective assets. We receive fees for our services, including a property management fee calculated as a percentage of gross revenue received, and recognize these fees as the services are rendered.

Earnings Per Share

Earnings Per Share

Under the Earnings Per Share Topic of the FASB ASC, unvested share-based payment awards that entitle their holders to receive non-forfeitable dividends, such as our restricted stock awards, are classified as “participating securities.” As participating securities, our shares of restricted stock will be included in the calculation of basic and diluted earnings per share. Because the awards are considered participating securities under provisions of the Earnings Per Share Topic of the FASB ASC, we are required to apply the two-class method of computing basic and diluted earnings per share. The two-class method is an earnings allocation formula that treats a participating security as having rights to earnings that would otherwise have been available to common stockholders. Under the two-class method, earnings for the period are allocated between common stockholders and other security holders, based on their respective rights to receive dividends.

Segment Information

Segment Information

We invest in properties through direct ownership or through joint ventures. It is our intent that all properties will be owned or developed for investment purposes; however, we may decide to sell all or a portion of a development upon completion. Our revenue and net income are generated from the operation of our investment property. We also earn fees from third parties for services provided to manage and lease retail shopping centers owned through joint ventures or by third parties.

We review operating and financial data for each property on an individual basis; therefore each of our individual properties is a separate operating segment. We have aggregated our operating segments in six reportable segments based primarily upon our method of internal reporting which classifies our operations by geographical area. Our reportable segments by geographical area are as follows: (1) South Florida – including Miami-Dade, Broward and Palm Beach Counties; (2) North Florida – including all of Florida north of Palm Beach County; (3) Southeast - including Georgia, Louisiana, Alabama, Mississippi, North Carolina, South Carolina and Virginia; (4) Northeast – including Connecticut, Maryland, Massachusetts and New York; (5) West Coast – including California and Arizona; and (6) Other/Non-retail – which comprises our non-retail assets. Our segments as reported in this Annual Report on Form 10-K for the year ended December 31, 2012 are not consistent with our segments as reported in our Annual Report on Form 10-K for the year ended December 31, 2011. We have divided our previously combined North Florida and Southeast region into two separate regions in this Annual Report on Form 10-K for the period ended December 31, 2012, as a result of a change in management responsibilities for the North Florida region during the first quarter of 2012 and corresponding changes in our internal reporting. These changes have been reflected in our segment disclosures for all periods presented herein.

Concentration of Credit Risk

Concentration of Credit Risk

A concentration of credit risk arises in our business when a national or regionally based tenant occupies a substantial amount of space in multiple properties owned by us. In that event, if the tenant suffers a significant downturn in its business, it may become unable to make its contractual rent payments to us, exposing us to potential losses in rental revenue, expense recoveries, and percentage rent. Further, the impact may be magnified if the tenant is renting space in multiple locations. Generally, we do not obtain security from our nationally-based or regionally-based tenants in support of their lease obligations to us. We regularly monitor our tenant base to assess potential concentrations of credit risk. As of December 31, 2012, Publix Super Markets was our largest tenant and accounted for approximately 1.8 million square feet, or approximately 9.9% of our GLA, and approximately $14.5 million, or 5.7%, of our annual minimum rent. As of December 31, 2012, we had outstanding receivables from Publix Super Markets of approximately $527,000. No other tenant accounted for more than 5.0% of our annual minimum rent.

Recent Accounting Pronouncements

Recent Accounting Pronouncements

In May 2011, the FASB issued Accounting Standards Update (“ASU”) 2011-04, "Fair Value Measurement (Topic 820): Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and International Financial Reporting Standards ("IFRSs")." The guidance under ASU 2011-04 amends certain accounting and disclosure requirements related to fair value measurements to ensure that fair value has the same meaning in U.S. GAAP and in IFRS and that their respective fair value measurement and disclosure requirements are the same. This guidance contains certain updates to the measurement guidance as well as enhanced disclosure requirements. The most significant change in disclosures is an expansion of the information required for “Level 3” measurements including enhanced disclosure for: (1) the valuation processes used by the reporting entity and (2) the sensitivity of the fair value measurement to changes in unobservable inputs and the interrelationships between those unobservable inputs, if any. This guidance is effective for interim and annual periods beginning on or after December 15, 2011. We have incorporated the required disclosures where deemed applicable and the adoption and implementation of this ASU did not have a material impact on our results of operations, financial condition or cash flows.

In June 2011, the FASB issued ASU No. 2011-05, “Presentation of Comprehensive Income” which revises the manner in which companies present comprehensive income. Under ASU No. 2011-05, companies may present comprehensive income, which is net income adjusted for the components of other comprehensive income, either in a single continuous statement of comprehensive income or by using two separate but consecutive statements. Regardless of the alternative chosen, companies must display adjustments for items reclassified from other comprehensive income into net income within the presentation of both net income and other comprehensive income. ASU 2011-05 is effective for interim and annual periods beginning after December 15, 2011, on a retrospective basis. In December 2011, the FASB issued ASU No. 2011-12,”Deferral of the Effective Date for Amendments to the Presentation of Reclassifications of Items Out of Accumulated Other Comprehensive Income in ASU 2011-05.” ASU 2011-12 defers the requirement that companies present reclassification adjustments for each component of accumulated other comprehensive income in both net income and other comprehensive income on the face of the financial statements. Reclassifications out of accumulated other comprehensive income are to be presented either on the face of the financial statement in which other comprehensive income is presented or disclosed in the notes to the financial statements. Reclassification adjustments into net income need not be presented during the deferral period. This action does not affect the requirement to present items of net income, other comprehensive income and total comprehensive income in a single continuous or two consecutive statements. The effective date for the deferred portion has not yet been determined. When adopted, the deferred portion of the guidance is not expected to materially impact our consolidated financial statements. We have incorporated the required disclosures where deemed applicable and the adoption and implementation of this ASU did not have an impact on our results of operations, financial condition or cash flows.

In September 2011, the FASB issued ASU No. 2011-08, “Testing Goodwill for Impairment(the revised standard)”. Under ASU No. 2011-08 companies have the option to perform a qualitative assessment that may allow them to skip the annual two-step test and reduce costs. The guidance is effective for fiscal years beginning after December 15, 2011. The adoption and implementation of this ASU did not have a material impact on our results of operations, financial condition or cash flows.

In December 2011, the FASB issued ASU No. 2011-10, “Derecognition of in Substance Real Estate”. The amendments in ASU 2011-10 resolve the diversity in practice about whether the guidance in Subtopic 360-20 applies to the derecognition of in substance real estate when the parent ceases to have a controlling financial interest (as described in Subtopic 810-10) in a subsidiary that is in substance real estate because of a default by the subsidiary on its nonrecourse debt. The guidance emphasizes that the accounting for such transactions is based on their substance rather than their form. The amendments in the ASU should be applied on a prospective basis to deconsolidation events occurring after the effective date. Prior periods should not be adjusted even if the reporting entity has continuing involvement with previously derecognized in substance real estate entities. The guidance is effective for fiscal years, and interim periods within those years, beginning on or after June 15, 2012. The adoption and implementation of this ASU did not have a material impact on our results of operations, financial condition or cash flows.

In December 2011, the FASB issued ASU No. 2011-11, “Disclosures about Offsetting Assets and Liabilities”. Under ASU 2011-11 disclosures are required to provide information to help reconcile differences in the offsetting requirements under U.S. GAAP and IFRS. The new disclosure requirements mandate that entities disclose both gross and net information about instruments and transactions eligible for offset in the statement of financial position as well as instruments and transactions subject to an agreement similar to a master netting arrangement. In addition, the ASU requires disclosure of collateral received and posted in connection with master netting agreements or similar arrangements. The guidance is effective for fiscal years, and interim periods within those years, beginning on or after January 1, 2013. We do not believe that the adoption of this ASU will have a material impact on our results of operations, financial condition or cash flows.

In July 2012, the FASB issued Accounting Standards Update No. 2012-02, “Testing Indefinite-Lived Intangible Assets for Impairment (the revised standard)". The revised standard is intended to reduce the cost and complexity of testing indefinite-lived intangible assets, other than goodwill, for impairment. It allows companies to perform a "qualitative" assessment to determine whether further impairment testing of indefinite-lived intangible assets is necessary, similar in approach to the goodwill impairment test. The revised standard is effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012, and earlier adoption is permitted. We do not believe that the adoption of this ASU will have a material impact on our results of operations, financial condition or cash flows.

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Segment Reporting (Notes)

12 Months Ended

Dec. 31, 2012

Segment Reporting [Abstract]

Segment Reporting

Segment Reporting

We review operating and financial data for each property on an individual basis; therefore each of our individual properties is a separate operating segment. We have aggregated our operating segments in six reportable segments based primarily upon our method of internal reporting which classifies our operations by geographical area. Our reportable segments by geographical area are as follows: (1) South Florida – including Miami-Dade, Broward and Palm Beach Counties; (2) North Florida – including all of Florida north of Palm Beach County; (3) Southeast - including Georgia, Louisiana, Alabama, Mississippi, North Carolina, South Carolina and Virginia; (4) Northeast – including Connecticut, Maryland, Massachusetts and New York; (5) West Coast – including California and Arizona; and (6) Other/Non-retail – which comprises our non-retail assets. Our segments as reported in this Annual Report on Form 10-K for the year ended December 31, 2012 are not consistent with our segments as reported in our Annual Report on Form 10-K for the year ended December 31, 2011. We have divided our previously combined North Florida and Southeast region into two separate regions in this Annual Report on Form 10-K for the period ended December 31, 2012, as a result of a change in management responsibilities for the North Florida region during the first quarter of 2012 and corresponding changes in our internal reporting. These changes have been reflected in our segment disclosures for all periods presented herein.

We assess a segment’s performance based on net operating income (“NOI”). NOI excludes interest and other income, acquisition costs, general and administrative expenses, interest expense, depreciation and amortization expense, (losses) gains from extinguishments of debt, income (loss) of unconsolidated joint ventures, gains on sales of real estate, impairments, and noncontrolling interests. NOI is a non-GAAP financial measure. The most directly comparable GAAP financial measure is (loss)income from continuing operations before tax and discontinued operations, which, to calculate NOI, is adjusted to add back amortization of deferred financing fees, rental property depreciation and amortization, interest expense, impairment losses and general and administrative expense, and to exclude revenue earned from management and leasing services, straight line rent adjustments, accretion of below market lease intangibles (net), gain on sale of real estate, equity in income (loss) of unconsolidated joint ventures, gain on bargain purchase and acquisition of controlling interest in subsidiary, (loss) gain on extinguishment of debt, investment income, and other income. NOI includes management fee expense recorded at each operating segment based on a percentage of revenue which is eliminated in consolidation. We use NOI internally as a performance measure and believe NOI provides useful information to investors regarding our financial condition and results of operations because it reflects only those income and expense items that are incurred at the property level. Therefore, we believe NOI is a useful measure for evaluating the operating performance of our real estate assets. NOI presented by us may not be comparable to NOI reported by other REITs that define NOI differently. We believe that in order to facilitate a clear understanding of our operating results, NOI should be examined in conjunction with (loss) income from continuing operations before tax and discontinued operations as presented in our consolidated financial statements. NOI should not be considered as an alternative to net (loss) income attributable to Equity One, Inc. as an indication of our performance or to cash flows as a measure of liquidity or our ability to make distributions. We consider NOI to be an appropriate supplemental measure to net income because it helps both investors and management to understand the core operations of our properties.

The following table sets forth the financial information relating to our continuing operations presented by segments and includes a reconciliation of NOI to (loss) income from continuing operations before tax and discontinued operations, the most directly comparable GAAP financial measure:

	Year Ended December 31,
	2012			2011			2010
	(In thousands)
Revenue:
South Florida	$	91,398		$	86,203		$	87,150
North Florida	43,944			45,973			44,500
Southeast	47,694			46,654			46,739
Northeast	53,197			35,997			30,387
West Coast	67,583			48,940			—
Non-retail	2,788			2,846			903
Total segment revenue	306,604			266,613			209,679
Add:
Straight line rent adjustment	3,837			2,377			2,018
Accretion of below market lease intangibles, net	12,681			8,931			4,755
Management and leasing services	2,489			2,287			1,557
Total revenue	$	325,611		$	280,208		$	218,009
Net operating income (NOI):
South Florida	$	61,577		$	57,008		$	56,741
North Florida	30,877			31,772			31,028
Southeast	33,685			32,574			32,854
Northeast	36,639			25,608			21,905
West Coast	44,597			31,921			—
Non-retail	1,358			1,107			150
Total	208,733			179,990			142,678
Add:
Straight line rent adjustment	3,837			2,377			2,018
Accretion of below market lease intangibles, net	12,681			8,931			4,755
Management and leasing services	2,489			2,287			1,557
Elimination of intersegment expenses	10,226			7,497			6,408
Investment income	7,248			4,342			930
Equity in income (loss) of unconsolidated joint ventures	542			4,829			(116		)
Other income	45			406			648
Gain on bargain purchase	—			30,561			—
Gain on sale of real estate	—			5,541			254
(Loss) gain on extinguishment of debt	(29,153		)	(2,175		)	33
Less:
Rental property depreciation and amortization	86,006			81,446			48,294
General and administrative	42,474			50,976			41,360
Interest expense	72,175			68,964			62,734
Amortization of deferred financing fees	2,479			2,207			1,891
Impairment loss	22,772			19,158			464
(Loss) income from continuing operations before tax and discontinued     operations	$	(9,258	)	$	21,835		$	4,422

Of the $22.8 million impairment loss recorded for the year ended December 31, 2012 relating to properties held for use, $12.3 million related to assets in our Southeast region, $9.8 million related to assets in our North Florida region, $600,000 related to assets in our South Florida region and $140,000 related to assets in our West Coast region. Of the $19.2 million impairment loss recorded for the year ended December 31, 2011, $15.1 million related to assets in our Southeast region, $3.8 million related to assets in our South Florida region and $266,000 related to assets in our North Florida region. Of the $464,000 impairment loss recorded for the year ended December 31, 2010, $273,000 related to assets in our Southeast region, $162,000 related to assets in our North Florida region and $29,000 related to assets in our South Florida region.

	December 31,
	2012		2011
	(In thousands)
Assets:
South Florida	$	712,101	$	717,434
North Florida	352,943		362,460
Southeast	396,944		415,521
Northeast	894,658		645,439
West Coast	821,347		714,227
Non-retail	33,525		34,023
Corporate assets	206,741		189,016
Properties held for sale	84,409		144,451
Total assets	$	3,502,668	$	3,222,571

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Share-Based Payment Plans

12 Months Ended

Dec. 31, 2012

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Share-Based Payment Plans

Share-Based Payment Plans

The Equity One Amended and Restated 2000 Executive Incentive Compensation Plan (the “2000 Plan”) provides for grants of stock options, stock appreciation rights, restricted stock, and deferred stock, other stock-related awards and performance or annual incentive awards that may be settled in cash, stock or other property. The persons eligible to receive an award under the 2000 Plan are our officers, directors, employees and independent contractors. Following an amendment to the 2000 Plan, approved by our stockholders on May 2, 2011, the total number of shares of common stock that may be issuable under the 2000 Plan is 13.5 million shares, plus (i) the number of shares with respect to which options previously granted under the 2000 Plan terminate without being exercised, and (ii) the number of shares that are surrendered in payment of the exercise price for any awards or any tax withholding requirements. The 2000 Plan will terminate on the earlier of May 2, 2021 or the date on which all shares reserved for issuance under the 2000 Plan have been issued. As of December 31, 2012, 5.0 million shares were available for issuance under the 2000 Plan, as amended.

Discounts offered to participants under our 2004 Employee Stock Purchase Plan represent the difference between market value of our stock on the purchase date and purchase price of shares as provided under the plan. A portion of share-based compensation cost is capitalized as part of property-related assets.

Options and Restricted Stock

As of December 31, 2012, we have stock options and restricted stock outstanding under the 2000 Plan. In addition, in connection with the initial employment in 2006 of Jeffrey S. Olson, our Chief Executive Officer, we issued Mr. Olson options to purchase 364,660 shares of common stock.

The term of each award is determined by our compensation committee, but in no event can be longer than ten years from the date of grant. The vesting of the awards is determined by the committee, in its sole and absolute discretion, at the date of grant of the award. Dividends are paid on certain shares of non-vested restricted stock, which makes the restricted stock a participating security under the Earnings Per Share Topic of the FASB ASC. Certain options, restricted stock and other share awards provide for accelerated vesting if there is a change in control, as defined in the 2000 Plan.

The fair value of each option awarded during 2012, 2011and2010 was estimated on the date of grant using the Black-Scholes-Merton option-pricing model. Expected volatilities, dividend yields, employee exercises and employee forfeitures are primarily based on historical data. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant. We measure compensation expense for restricted stock awards based on the fair value of our common stock at the date of the grant and charge to expense such amounts ratably over the vesting period. For grants with a graded vesting schedule, we have elected to recognize compensation expense on a straight-line basis. We used the shortcut method described in the Share Compensation Topic of the FASB ASC for determining the expected life used in the valuation method.

The following table presents stock option activity:

	Year Ended December 31,
	2012				2011				2010
	Shares Under Option		Weighted- Average  Exercise Price		Shares Under Option		Weighted- Average  Exercise Price		Shares Under Option		Weighted- Average  Exercise Price
	(In thousands)				(In thousands)				(In thousands)
Outstanding at the beginning of year	3,565		$	20.62	3,346		$	20.73	2,762		$	21.28
Granted	—		—		227		19.07		609		18.56
Exercised	(42	)	11.59		(2	)	18.88		—		—
Forfeited or expired	(2	)	18.88		(6	)	18.88		(25	)	28.05
Outstanding at the end of year	3,521		$	20.73	3,565		$	20.62	3,346		$	20.73
Exercisable at the end of year	3,041		$	21.15	2,675		$	21.54	2,157		$	22.62
Weighted-average fair value of options    granted during the year			$	—			$	3.67			$	3.43

The total cash or other consideration received from options exercised during the years ended December 31, 2012 and 2011 was $493,000 and $31,000, respectively. No options were exercised during the year ended December 31, 2010.

The total intrinsic value of options exercised during the years ended December 31, 2012 and 2011 was approximately $319,000 and $1,000, respectively. Options exercisable at December 31, 2012 and 2011 had an intrinsic value of approximately $5.3 million and $1.2 million, respectively.

The fair value of each option grant was estimated on the grant date using the Black-Scholes-Merton pricing model with the following assumptions:

	Year Ended December 31,
	2011	2010
Dividend yield	4.6%	4.4% - 4.8%
Risk-free interest rate	2.7%	1.9% - 2.9%
Expected option life (years)	6.0 - 6.25	5.75 - 6.5
Expected volatility	30.2%	28.6% - 30.7%

The options were granted with an exercise price equivalent to the current stock price on the grant date or the ten-day average of the stock price prior to the grant date. No options were granted during the year ended December 31, 2012.

Restricted Stock Grants and Long-Term Incentive Compensation Plan

The following table presents information regarding restricted stock activity during the year ended December 31, 2012:

	Unvested Shares			Weighted-Average Price
	(In thousands)
Unvested at January 1, 2012	1,178			$	17.23
Granted	72			$	18.85
Vested	(271	)		$	18.06
Forfeited	(4	)		$	19.25
Unvested at December 31, 2012	975		*	$	17.11

 ___________________________

* Does not include 800,000 shares of restricted stock awarded to certain executives which are subject to performance vesting conditions and are not entitled to vote or receive dividends during the performance period as discussed below.

Our compensation committee grants restricted stock to our officers, directors, and other employees. Vesting periods for the restricted stock are determined by our compensation committee. We measure compensation costs for restricted stock awards based on the fair value of our common stock at the date of the grant and expense such amounts ratably over the vesting period. As of December 31, 2012, we had 975,380 shares of non-vested restricted stock grants outstanding.

During the year ended December 31, 2012, we granted 71,934 shares of restricted stock that are subject to forfeiture and vest over periods from 0 to 3 years. The total grant-date value of the 270,927 shares of restricted stock that vested during the year ended December 31, 2012 was $4.9 million.

Jeffrey S. Olson, our chief executive officer, was eligible for long term incentive cash compensation subject to a performance-based schedule which ended on December 31, 2010 after a four-year performance measurement period. In order for him to have received compensation, our total stockholder return over the performance period must have exceeded 6% and achieved a certain spread against the average total return of a defined peer group. At the end of the performance period, the total return targets were not met and, as such, no cash or other compensation was awarded in connection with the long-term incentive plan. As a result, in 2010, we reversed the remaining $0.7 million of liability associated with the award into earnings.

On August 9, 2010, 698,894 restricted shares were awarded to Jeffrey S. Olson as part of his new employment agreement with us. Of this amount, 582,412 restricted shares (“Contingent Shares”) were issued under the 2000 Plan and will vest if our total shareholder return over a four-year measurement period commencing on January 1, 2011 exceeds the average total shareholder return of a peer group of publicly traded retail property REITs, as well as an absolute return threshold. All of the Contingent Shares will vest on December 31, 2014 (or such shorter time as provided in the employment agreement) if our total shareholder return for the measurement period both (1) exceeds the average total shareholder return of the peer group of companies by at least 300 basis points and (2) equals or exceeds 9%. If the full vesting requirements are not met, one-half of the Contingent Shares will vest on December 31, 2014 if our total shareholder return for the measurement period both (1) exceeds the average total shareholder return of the peer group of companies by at least 150 basis points and (2) equals or exceeds 6%. Mr. Olson must be employed by us on the vesting date. Mr. Olson will receive any dividends declared on the Contingent Shares over the measurement period and those dividends will not be forfeited by Mr. Olson if the Contingent Shares fail to vest.

On January 28, 2011, we entered into employment agreements with Mr. Caputo, Arthur L. Gallagher, our Executive Vice President and President of Florida, and Mark Langer, our Executive Vice President and Chief Financial Officer, which are effective as of February 1, 2011. The initial term of each employment agreement ends December 31, 2014 and will automatically renew for successive one-year periods unless either party gives the other written notice at least six months before the expiration of the applicable term of that party’s intent to let the employment agreement expire. We granted an aggregate of 800,000 restricted shares (the “Executive Shares”) under the new employment agreements which will vest if our total shareholder return over a four-year measurement period commencing on February 1, 2011 exceeds the average total shareholder return of a peer group of publicly traded retail property REITs, as well as an absolute return threshold. The total return thresholds for the Executive Shares are the same as the thresholds applicable to the Contingent Shares awarded to Mr. Olson. Messrs Caputo, Gallagher, and Langer do not participate in dividends over the performance period and must be employed by us on the vesting date to receive the shares. As these shares are not entitled to vote or receive dividends during the performance period, they are not included in our restricted share count.

The Contingent Shares and the Executive Shares were each valued at approximately $4.5 million utilizing a Monte Carlo simulation to estimate the probability of the performance vesting conditions being satisfied. The Monte Carlo simulation used the statistical formula underlying the Black-Scholes-Merton binomial formula. For the Contingent Shares, we recognize compensation expense over the requisite service period from August 9, 2010 through December 31, 2014. For the Executive Shares, we recognize compensation expense over the requisite service period from January 28, 2011 through December 31, 2014. During the years ended December 31, 2012 and 2011, we recognized approximately $1.1 million and $1.0 million, respectively, of compensation expense related to the Executive Shares, and approximately $1.0 million of compensation expense related to the Contingent Shares each period.

Further to Mr. Olson’s employment agreement dated August 9, 2010, the remaining unvested shares related to his previous employment agreement dated September 5, 2006 were modified in that, of the 24,291 restricted shares scheduled to vest on December 31, 2010, 14,170 were made to vest on August 9, 2010, 5,061 vested on December 31, 2012 and the remaining 5,060 are scheduled to vest on December 31, 2014. We elected to account for the modification of the award by recognizing the total cost of the newly modified award ratably over the newly defined requisite service period.

Also included in the restricted stock grants are 380,000 shares awarded to our chairman as part of his chairman compensation agreement with us which was executed on August 9, 2010, (i) 31,250 of which vested on January 1, 2011; (ii) 7,266 of which will vest on the first day of each calendar month beginning February 2011 and ending December 2014; and (iii) 7,248 of which will vest on December 31, 2014.

Pursuant to their employment agreements, each of our executive officers is entitled to an annual bonus based upon the achievement of certain performance levels established by our compensation committee. We anticipate that the performance levels will be set for each calendar year so that each executive can reasonably be expected to earn a bonus for such calendar year in an amount equal to 50% of his base salary for each of Messrs. Olson and Caputo and 100% of his base salary for each of Messrs. Langer and Gallagher. Bonuses for Messrs. Olson and Caputo are payable in cash; bonuses for Messrs. Langer and Gallagher are payable one-half in cash and one-half in shares of restricted stock, which shares will vest in equal portions on the first, second and third year anniversaries of the grant date, subject to the executive then being employed by us, provided that the number of shares of restricted stock that would otherwise be granted to Mr. Langer for any bonus with respect to the 2011 or 2012 calendar years will be reduced (but not below zero) by 12,500 shares. No bonus will be payable for Mr. Langer or Mr. Gallagher in respect of a calendar year in which such executive allows his employment agreement to expire. If we allow either Mr. Langer’s or Mr. Gallagher’s employment agreement to expire, all unvested shares of restricted stock granted to the executive in respect of the foregoing annual bonuses will continue to vest as if the executive had been employed through the last date such shares would have otherwise vested.

Share-Based Compensation Expense

Share-based compensation expense charged against earnings is summarized as follows:

	Year Ended December 31,
	2012			2011			2010
	(in thousands)
Restricted stock expense	$	6,060		$	5,692		$	4,194
Stock option expense	1,040			1,454			2,347
Employee stock purchase plan discount	13			14			10
Total equity-based expense	7,113			7,160			6,551
Restricted stock classified as a liability	51			103			—
Total expense	7,164			7,263			6,551
Less amount capitalized	(301		)	(271		)	(54		)
Net share-based compensation expense	$	6,863		$	6,992		$	6,497

As of December 31, 2012, we had $11.0 million of total unrecognized compensation expense related to unvested and restricted share-based payment arrangements (unvested options and restricted shares) granted under the 2000 Plan. This expense is expected to be recognized over a weighted-average period of 1.9 years.

401(k) Plan

We have a 401(k) defined contribution plan (the “401(k) Plan”) covering substantially all of our officers and employees which permits participants to defer compensation up to the maximum amount permitted by law. We match 100% of each employee’s contribution up to 3.0% of the employee’s annual compensation and, thereafter, match 50% of the next 3.0% of the employee’s annual compensation. Employees’ contributions and our matching contributions vest immediately. Our contributions to the 401(k) Plan for the years ended December 31, 2012, 2011and2010 were $432,000, $418,000 and $332,000, respectively.

2004 Employee Stock Purchase Plan

Under the 2004 Employee Stock Purchase Plan, our employees, including our directors who are employees, are eligible to participate in quarterly plan offerings in which payroll deductions may be used to purchase shares of our common stock. The purchase price per share is 90% of the average closing price per share of our common stock on the NYSE on the five trading days that immediately precede the date of purchase, provided, however, that in no event shall the exercise price per share of common stock on the exercise date of an offering period be less than the lower of (i) 85% of the market price on the first day of the offering period or (ii) the market price on the exercise date.

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Income Taxes (Deferred Tax Assets And Liabilities) (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2012	Dec. 31, 2011
Income Tax Disclosure [Abstract]
Disallowed interest	$ 2,903	$ 3,034
Net operating loss	3,216	3,473
Other, Deferred tax assets	138	212
Valuation allowance	(213)	(205)
Total deferred tax assets	6,044	6,514
Other real estate investments	(13,828)	(16,532)
Mortgage revaluation	(1,005)	(1,233)
Other, Deferred tax liabilities	(259)	(229)
Total deferred tax liabilities	(15,092)	(17,994)
Net deferred tax liability	$ (9,048)	$ (11,480)

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Noncontrolling Interests (Tables)

12 Months Ended

Dec. 31, 2012

Noncontrolling Interest [Abstract]

Summary of Noncontrolling Interests

The following table summarizes our noncontrolling interests as of December 31, 2012 and 2011:

	December 31,
	2012		2011
	(In thousands)
Danbury 6 Associates LLC (1)	$	7,720	$	7,720
Southbury 84 Associates LLC (2)	11,242		11,242
Vestar/EQY Canyon Trails LLC (3)	2,600		2,853
Walden Woods Village, Ltd. (4)	989		989
Total redeemable noncontrolling interests	$	22,551	$	22,804
CapCo	$	206,145	$	206,145
DIM	1,100		1,132
Vestar/EQY Talega LLC (5)	147		181
Vestar/EQY Vernola LLC (6)	361		428
Total noncontrolling interests included in total equity	$	207,753	$	207,886

^{______________________________________________} 

⁽¹⁾ This entity owns the Danbury Green Shopping Center.

⁽²⁾ This entity owns the Southbury Green Shopping Center.

⁽³⁾ This entity owns the Canyon Trails Shopping Center.

⁽⁴⁾ We have entered into a redemption agreement whereby our joint venture partner can request that we purchase their interest at any time

before January 1, 2014.

⁽⁵⁾ Holds our interest in Talega Village Center JV, LLC.

⁽⁶⁾ Holds our interest in Vernola Marketplace JV, LLC.

Effects On Equity Resulting From The Changes In Ownership Interest

The following table shows the effects on our equity resulting from the changes in our ownership interest in consolidated subsidiaries:

	Year Ended December 31,
	2012			2011		2010
	(In thousands)
Net (loss) income attributable to Equity One, Inc.	$	(3,477	)	$	33,621	$	25,112
Increase in our paid-in capital for purchases of DIM ordinary shares (1)	—			—		7,562
Net transfers from noncontrolling interest	—			—		7,562
Change from net (loss) income attributable to Equity One, Inc. and    transfers from noncontrolling interest	$	(3,477	)	$	33,621	$	32,674

^{______________________________________________} 

⁽¹⁾ For purchases of 33,213 and 2,637,488 DIM ordinary shares for the years ended December 31, 2011 and 2010, respectively.

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Summary of Significant Accounting Policies Summary Of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2012

Accounting Policies [Abstract]

Estimated Useful Life, Property Plant and Equipment

Depreciation and amortization is computed using the straight-line method over the estimated useful lives of the assets as follows:

Buildings	30-55 years
Buildings and land improvements	2-40 years
Tenant improvements	Lesser of minimum lease term or economic useful life
Furniture and equipment	5-7 years

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Future Minimum Rental Income

12 Months Ended

Dec. 31, 2012

Operating Leases, Income Statement, Lease Revenue [Abstract]

Future Minimum Rental Income

Future Minimum Rental Income

Our properties are leased to tenants under operating leases with expiration dates extending to the year 2039. Future minimum rents under non-cancelable operating leases as of December 31, 2012, excluding tenant reimbursements of operating expenses and percentage rent based on tenants’ sales volume are as follows:

Year Ending December 31,	Amount
	(In thousands)
2013	$	238,953
2014	208,145
2015	176,780
2016	139,855
2017	108,167
Thereafter	454,194
Total	$	1,326,094

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Commitments and Contingencies

12 Months Ended

Dec. 31, 2012

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Commitments and Contingencies

As of December 31, 2012, we had pledged letters of credit having an aggregate face amount of $1.8 million as additional security for financial and other obligations.

As of December 31, 2012, we have invested an aggregate of approximately $169.6 million in development or redevelopment projects at various stages of completion and anticipate that these projects will require an additional $91.5 million to complete, based on our current plans and estimates, which we anticipate will be expended over the next three years. These obligations, comprising principally construction contracts, are generally due as the work is performed and are expected to be financed by the funds available under our credit facilities, proceeds from the issuance of additional debt or equity securities, capital from institutional partners that desire to form joint venture relationships with us and proceeds from property dispositions.

We are subject to litigation in the normal course of business. However, we do not believe that any of the litigation outstanding as of December 31, 2012 will have a material adverse effect on our financial condition, results of operations or cash flows. During the year ended December 31, 2012, we recorded $525,000, which is included in property operating expenses in the accompanying consolidated statement of operations, related to litigation that was settled in the first quarter of 2012.

In October 2012, we entered into a contract to acquire the Westwood Complex as further discussed in Note 11. We are monitoring litigation brought against the seller of the Westwood Complex by a party with whom the seller formed a joint venture in 2001 to own an apartment building adjacent to the Westwood Complex. The plaintiff in the litigation claims that the seller, as manager of the apartment joint venture, breached certain fiduciary duties owing to the joint venture partner by purchasing the Westwood Complex and the land underlying the adjacent apartment building for the seller's own account in 2005. We are not a party to the litigation. In so far as the litigation relates to the Westwood Complex, the seller has substantially prevailed twice at the trial court level, and we believe the seller will prevail in the appeal currently pending in the Court of Special Appeals of Maryland, but there can be no assurance that this will be the case. If the seller does not prevail, it is possible that the court may make the Westwood Complex available to satisfy any judgment against the seller (through forced sale or otherwise). The loan documentation and purchase agreement governing our transaction with the seller provide us with various protections in the event such an adverse litigation outcome were to occur. In light of the litigation history and the protections afforded us by the transaction structure, we believe the likelihood of loss resulting from the litigation to be remote and not material to our business or results of operations.

At December 31, 2012, we are obligated under non-cancellable operating leases for office space, equipment rentals and ground leases on certain of our properties. At December 31, 2012, minimum annual payments under non-cancellable operating leases are as follows:

Year Ending December 31,	Amount
	(In thousands)
2013	$	1,219
2014	1,191
2015	1,156
2016	1,082
2017	1,074
Thereafter	18,466
Total	$	24,188

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Consolidated Statements of Cash Flows Statement (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
OPERATING ACTIVITIES:
Net income	$ 7,225	$ 43,218	$ 24,419
Adjustments to reconcile net income to net cash provided by operating activities:
Straight line rent adjustment	(3,994)	(3,185)	(2,233)
Accretion of below market lease intangibles, net	(12,469)	(10,584)	(7,487)
Equity in income (loss) of unconsolidated joint ventures	(542)	(5,533)	116
Gain on bargain purchase		(30,561)
Income tax benefit of taxable REIT subsidiaries	(2,503)	(34,639)	(3,765)
Provision for losses on accounts receivable	979	2,946	2,429
Amortization of (premium) discount on notes payable, net	(2,627)	1,183	2,817
Amortization of deferred financing fees	2,485	2,232	1,924
Depreciation and amortization	90,896	98,597	69,077
Allocated share-based Compensation Expense	6,863	6,992	6,497
Share-based compensation expense		6,992	6,497
Amortization of derivatives	64	64	63
Gain on sale of real estate	(16,588)	(9,948)	(2,511)
Loss (gain) on extinguishment of debt	30,602	2,396	(63)
Gain on sale of securities	0	0	(366)
Operating distributions from joint venture	3,337	1,504
Impairment loss	29,441	57,336	687
Changes in assets and liabilities, net of effects of acquisitions and disposals:
Accounts and other receivables	2,241	(2,394)	(7,497)
Other assets	26,824	(15,198)	(7,849)
Accounts payable and accrued expenses	(12,780)	(142)	(6,522)
Tenant security deposits	787	(1,076)	(273)
Other liabilities	2,978	(582)	2,099
Net cash provided by operating activities	153,219	102,626	71,562
INVESTING ACTIVITIES:
Acquisition of income producing properties	(243,549)	(279,080)	(108,096)
Additions to income producing properties	(20,175)	(16,396)	(9,857)
Acquisition of land held for development	(9,505)	0	(1,337)
Additions to construction in progress	(65,143)	(43,097)	(9,914)
Proceeds from sale of real estate and rental properties	41,994	399,396	4,317
Decrease (increase) in cash held in escrow	91,592	(91,591)
Increase in deferred leasing costs and lease intangibles	(7,169)	(7,154)	(4,761)
Investment in joint ventures	(26,392)	(15,024)	(13,927)
Investment in consolidated subsidiary		(242)	(13,437)
Repayments of advances/(advances) to joint ventures	517	34,887	(33,417)
Distributions from joint ventures	567	18,786	345
Investment in loans receivable	(114,258)	(45,100)
Repayment of loans receivable	19,258
Proceeds from sale of securities	0	0	841
Net cash used in investing activities	(332,263)	(44,615)	(189,243)
FINANCING ACTIVITIES:
Repayments of mortgage notes payable	(66,173)	(246,864)	(74,757)
Net borrowings under revolving credit facilities	34,000	138,000
Proceeds from senior debt borrowings	296,823	0	0
Repayment of senior debt	(287,840)
Proceeds from issuance of common stock	85,838	116,542	270,698
Borrowings under term loan	250,000	0	0
Payment of deferred financing costs	(3,251)	(5,039)	(967)
Stock issuance costs	(883)	(1,185)	(3,319)
Dividends paid to stockholders	(102,078)	(98,842)	(83,611)
Payments of Ordinary Dividends, Noncontrolling Interest	(9,995)		0
Distributions to redeemable noncontrolling interests	(944)	(11,405)
Net cash provided by financing activities	195,497	(108,793)	108,044
Net increase (decrease) in cash and cash equivalents	16,453	(50,782)	(9,637)
Cash and cash equivalents obtained through acquisition		23,412
Cash and cash equivalents at beginning of the period	10,963	38,333	47,970
Cash and cash equivalents at end of the period	27,416	10,963	38,333
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for interest (net of capitalized interest of $4.7 million, $2.3 million and $2.2 million in 2012, 2011 and 2010, respectively)	74,030	84,278	75,747
We acquired upon acquisition of certain income producing properties:
Income producing properties	261,139	471,984	193,661
Intangible and other assets	60,357	35,802	24,998
Intangible and other liabilities	(39,809)	(81,100)	(50,946)
Assumption of mortgage notes payable	(38,138)	(128,722)	(56,742)
Noncontrolling Interest In Real Estate	0	(18,884)	(2,875)
Cash paid for income producing properties	243,549	279,080	108,096
Net cash paid for the acquisition of C&C (US) No. 1 is as follows:
Income producing properties		471,219
Intangible and other assets		113,484
Intangible and other liabilities		(35,898)
Assumption of mortgage notes payable		(261,813)
Issuance of Equity One common stock		(73,698)
Noncontrolling interest in C&C (US) No. 1		(206,145)
Gain on bargain purchase		(30,561)
Cash acquired upon acquisition of C&C (US) No. 1		23,412
Net cash paid for acquisition of C&C (US) No. 1
Cash paid for income producing properties	$ 243,549	$ 279,080	$ 108,096

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Environmental Matters

12 Months Ended

Dec. 31, 2012

Environmental Remediation Obligations [Abstract]

Environmental Matters

Environmental Matters

We are subject to numerous environmental laws and regulations. The operation of dry cleaning and gas station facilities at our shopping centers are the principal environmental concerns. We require that the tenants who operate these facilities do so in material compliance with current laws and regulations and we have established procedures to monitor dry cleaning operations. Where available, we have applied and been accepted into state sponsored environmental programs. Several properties in the portfolio will require or are currently undergoing varying levels of environmental remediation. We have environmental insurance policies covering most of our properties which limits our exposure to some of these conditions, though these policies are subject to limitations and environmental conditions known at the time of acquisition are typically excluded from coverage. During 2012 and 2011, we had one significant environmental remediation matter related to The Gallery at Westbury Plaza, which was fully remediated in 2012. See Note 13 for further discussion of this matter. Management believes that the ultimate disposition of currently known environmental matters will not have a material effect on our financial position, liquidity or operations.

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Goodwill (Goodwill Activity) (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Goodwill [Roll Forward]
Balance at beginning of period	$ 7,957	$ 8,925
Impairment	(525)	(968)	(464)
Allocated to property sale	(6)	0
Balance at ending of period	$ 7,426	$ 7,957	$ 8,925

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Segment Reporting (Financial Information Relating to Assets Presented by Segments) (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2012		Dec. 31, 2011
Segment Reporting Information [Line Items]
Total assets	$ 3,502,668	[1]	$ 3,222,571	[1]
South Florida [Member]
Segment Reporting Information [Line Items]
Total assets	712,101		717,434
North Florida [Member]
Segment Reporting Information [Line Items]
Total assets	352,943		362,460
Southeast [Member]
Segment Reporting Information [Line Items]
Total assets	396,944		415,521
Northeast [Member]
Segment Reporting Information [Line Items]
Total assets	894,658		645,439
West Coast [Member]
Segment Reporting Information [Line Items]
Total assets	821,347		714,227
Non-retail [Member]
Segment Reporting Information [Line Items]
Total assets	33,525		34,023
Corporate assets [Member]
Segment Reporting Information [Line Items]
Total assets	206,741		189,016
Assets held for sale or sold [Member]
Segment Reporting Information [Line Items]
Total assets	$ 84,409		$ 144,451

[1] The assets of these entities can only be used to settle obligations of the variable interest entities and the liabilities include third party liabilities of the variable interest entities for which the creditors or beneficial interest holders do not have recourse against us other than for customary environmental indemnifications and non-recourse carve-outs.

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Summary Of Real Estate And Accumulated Depreciation (Notes)

12 Months Ended

Dec. 31, 2012

Real Estate and Accumulated Depreciation Disclosure [Abstract]

Real Estate and Accumulated Depreciation Disclosure [Text Block]

SCHEDULE III

Equity One, Inc.

SUMMARY OF REAL ESTATE AND ACCUMULATED DEPRECIATION

December 31, 2012

(in thousands)

				INITIAL COST TO  COMPANY				Capitalized Subsequent to Acquisition or Improvements (1)			GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD
Property	Location	Encumbrances		Land		Building & Improvements					Land		Building & Improvements		Total		Accumulated Depreciation			Date of Construction	Date Acquired
90-30 Metropolitan Avenue	NY	$	—	$	5,105	$	21,378	$	741		$	5,105	$	22,119	$	27,224	$	(737	)	2007	9/1/2011
161 W. 16th Street	NY	—		21,699		40,518		243			21,699		40,761		62,460		(1,301		)	1930	5/16/2011
1175 Third Avenue	NY	7,001		28,282		22,115		(377		)	28,070		21,950		50,020		(1,039		)	1995	9/22/2010
2400 PGA	FL	—		1,418		—		1			1,418		1		1,419		(1		)	n/a	3/20/2006
4101 South I-85 Industrial	NC	—		1,619		950		274			1,619		1,224		2,843		(327		)	1956,1963	2/12/2003
200 Potrero	CA	—		4,778		1,469		—			4,778		1,469		6,247		—			1928	12/27/2012
1225-1239 Second Avenue	NY	16,655		14,253		11,288		—			14,253		11,288		25,541		(61		)	1963	10/5/2012
Alafaya Commons	FL	—		6,858		10,720		1,515			6,858		12,235		19,093		(2,899		)	1987	2/12/2003
Alafaya Village	FL	—		1,444		4,967		673			1,444		5,640		7,084		(1,251		)	1986	4/20/2006
Ambassador Row	LA	—		3,880		10,570		2,329			3,880		12,899		16,779		(2,932		)	1980	2/12/2003
Ambassador Row Courtyard	LA	—		3,110		9,208		2,238			3,110		11,446		14,556		(3,189		)	1986	2/12/2003
Antioch Land	CA	—		7,060		—		(150		)	6,910		—		6,910		—			n/a	1/4/2011
Atlantic Village	FL	—		1,190		4,760		5,179			1,190		9,939		11,129		(2,559		)	1984	6/30/1995
Aventura Square (2)	FL	25,944		46,811		17,851		2,015			45,855		20,822		66,677		(857		)	1991	10/5/2011
Banco Popular Building	FL	—		3,363		1,566		622			3,363		2,188		5,551		(569		)	1971	9/27/2005
Beauclerc Village	FL	—		651		2,242		1,576			651		3,818		4,469		(1,955		)	1962	5/15/1998
Bird Ludlum	FL	—		4,088		16,318		1,550			4,088		17,868		21,956		(8,277		)	1988	8/11/1994
Bluebonnet Village	LA	—		2,290		4,168		2,134			2,290		6,302		8,592		(1,531		)	1983	2/12/2003
Bluffs Square Shoppes	FL	—		3,232		9,917		832			3,232		10,749		13,981		(4,101		)	1986	8/15/2000
Boca Village	FL	—		3,385		10,174		2,423			3,385		12,597		15,982		(2,554		)	1978	8/15/2000
Boynton Plaza	FL	—		2,943		9,100		708			2,943		9,808		12,751		(3,568		)	1978	8/15/2000
Brawley Commons	NC	6,534		4,206		11,556		(7,682		)	4,206		3,874		8,080		(1,274		)	1997	12/31/2008
BridgeMill	GA	7,528		8,593		6,310		697			8,593		7,007		15,600		(2,020		)	2000	11/13/2003
Broadway Plaza - land	NY	—		7,500		—		2,219			9,719		—		9,719		—			n/a	6/8/2012
Broadway Plaza - land outparcel	NY	—		2,000		—		236			2,236		—		2,236		—			n/a	10/1/2012
Brookside Plaza	CT	—		2,291		26,260		7,680			2,291		33,940		36,231		(6,584		)	1985	1/12/2006
Buckhead Station	GA	24,166		27,138		45,277		2,036			27,138		47,313		74,451		(7,707		)	1996	3/9/2007
Butler Creek	GA	—		2,808		7,648		(1,169		)	9,287		—		9,287		—			1990	7/15/2003
Canyon Trails	AZ	—		12,087		11,168		(1,889		)	12,087		9,279		21,366		(1,255		)	2008	12/30/2010
Cashmere Corners	FL	—		1,947		5,707		(78		)	1,947		5,629		7,576		(1,665		)	2001	8/15/2000
Centre Pointe Plaza	NC	—		2,081		4,411		1,174			2,081		5,585		7,666		(1,482		)	1989	2/12/2003
Chapel Trail Plaza	FL	—		3,641		5,777		3,027			3,641		8,804		12,445		(2,127		)	2007	5/10/2006
Charlotte Square	FL	—		4,155		4,414		105			4,155		4,519		8,674		(1,192		)	1980	2/12/2003
Chastain Square	GA	—		10,689		5,937		721			10,689		6,658		17,347		(1,658		)	1981	2/12/2003
Chestnut Square	NC	—		1,189		1,326		3,563			1,189		4,889		6,078		(810		)	1985	2/12/2003
Circle Center West	CA	—		10,800		10,340		667			10,800		11,007		21,807		(863		)	1989	3/15/2011
Clocktower Plaza Shopping Center	NY	—		25,184		19,462		—			25,184		19,462		44,646		(180		)	1985	2/12/2003
Compo Acres Shopping Center	CT	—		18,305		12,195		66			18,305		12,261		30,566		(350		)	1960	3/1/2012
Copps Hill Plaza	CT	18,109		14,146		24,626		104			14,198		24,678		38,876		(2,627		)	2002	3/31/2010
Coral Reef Shopping Center	FL	—		16,464		4,376		1,627			17,515		4,952		22,467		(887		)	1968	9/1/2006
Country Club Plaza	LA	—		1,294		2,060		13			1,294		2,073		3,367		(513		)	1982	2/12/2003
Countryside Shops	FL	—		11,343		13,853		3,320			11,343		17,173		28,516		(4,227		)	1986	2/12/2003

				INITIAL COST TO  COMPANY				Capitalized Subsequent to Acquisition or Improvements (1)			GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD
Property	Location	Encumbrances		Land		Building & Improvements					Land		Building & Improvements		Total		Accumulated Depreciation			Date of Construction	Date Acquired
Crossroads Square	FL	$	—	$	3,592	$	4,401	$	6,112		$	3,520	$	10,585	$	14,105	$	(2,703	)	1973	8/15/2000
Culver Center	CA	64,000		74,868		59,958		4,035			75,214		63,647		138,861		(1,988		)	2000	11/16/2011
CVS Plaza	FL	—		657		2,803		1,314			657		4,117		4,774		(893		)	2004	7/23/1999
Danbury Green	CT	24,700		17,547		21,560		8,400			18,143		29,364		47,507		(1,685		)	2006	10/27/2011
Daniel Village	GA	—		3,439		8,352		158			3,439		8,510		11,949		(2,113		)	1956	2/12/2003
Danville – San Ramon Medical	CA	13,401		11,088		4,171		858			11,088		5,029		16,117		(929		)	1982	1/4/2011
Darinor Plaza	CT	18,658		—		16,991		—			—		16,991		16,991		(317		)	1978	8/28/2012
Douglas Commons	GA	—		3,681		7,588		220			3,681		7,808		11,489		(1,998		)	1988	2/12/2003
El Novillo	FL	—		250		1,000		162			250		1,162		1,412		(416		)	1970	4/30/1998
Elmwood Oaks	LA	—		4,088		8,221		705			4,088		8,926		13,014		(2,452		)	1989	2/12/2003
Fairview Oaks	GA	—		1,929		6,187		87			8,203		—		8,203		—			1997	2/12/2003
Forest Village	FL	—		3,397		3,206		2,347			3,397		5,553		8,950		(1,701		)	2000	1/28/1999
Ft. Caroline	FL	—		701		2,800		735			700		3,535		4,235		(1,622		)	1985	1/24/1994
Galleria	NC	—		1,493		3,875		(1,608		)	3,760		—		3,760		—			1986	2/12/2003
Gateway Plaza at Aventura	FL	—		2,301		5,529		—			2,301		5,529		7,830		(613		)	1991	3/19/2010
Glengary Shoppes	FL	16,079		7,488		13,969		384			7,488		14,353		21,841		(1,711		)	1995	12/31/2008
Grassland Crossing	GA	—		3,656		7,885		(1,469		)	10,072		—		10,072		—			1996	2/12/2003
Greenwood	FL	—		4,117		10,295		2,967			4,117		13,262		17,379		(3,309		)	1982	2/12/2003
Hairston Center	GA	—		1,644		642		28			1,644		670		2,314		(121		)	2000	8/25/2005
Hamilton Ridge	GA	—		5,612		7,167		(898		)	11,881		—		11,881		—			2002	12/18/2003
Hammocks Town Center	FL	—		16,856		11,392		592			16,856		11,984		28,840		(1,370		)	1987	12/31/2008
Hampton Oaks	GA	—		835		—		1,557			1,172		1,221		2,393		(266		)	2009	11/30/2006
Homestead Gas Station	FL	—		1,170		—		100			1,170		100		1,270		(6		)	1959	11/8/2004
Kirkman Shoppes	FL	—		3,222		9,714		325			3,222		10,039		13,261		(3,743		)	1973	8/15/2000
Lago Mar	FL	—		4,216		6,609		1,221			4,216		7,830		12,046		(1,956		)	1995	2/12/2003
Lake Mary	FL	—		7,092		13,878		8,092			7,092		21,970		29,062		(8,696		)	1988	11/9/1995
Lantana Village	FL	—		1,350		7,978		927			1,350		8,905		10,255		(3,139		)	1976	1/6/1998
Laurel Walk House	NC	—		105		111		—			105		111		216		(20		)	1985	10/31/2005
Lutz Lake	FL	—		3,619		5,199		1,159			3,619		6,358		9,977		(1,586		)	2002	2/12/2003
Mableton Crossing	GA	—		3,331		6,403		(1,180		)	8,555		—		8,555		—			1997	2/12/2003
Macland Pointe	GA	—		3,462		4,814		(894		)	7,382		—		7,382		—			1992	2/12/2003
Madison Centre	AL	—		1,424		5,187		23			1,424		5,210		6,634		(1,859		)	1997	2/12/2003
Magnolia Shoppes	FL	13,807		7,176		10,886		487			7,176		11,373		18,549		(1,317		)	1998	12/31/2008
Mandarin Landing	FL	—		4,443		4,747		11,361			4,443		16,108		20,551		(4,155		)	1976	12/10/1999
Mariners Crossing	FL	—		1,262		4,447		2,869			1,511		7,067		8,578		(1,895		)	1989	9/12/2000
Market Place	GA	—		1,667		4,078		106			1,577		4,274		5,851		(1,077		)	1976	2/12/2003
Marketplace Shopping Center	CA	16,164		8,727		22,188		2,095			8,737		24,273		33,010		(1,360		)	1990	1/4/2011
McAlpin Square	GA	—		3,536		6,963		328			3,536		7,291		10,827		(2,009		)	1979	2/12/2003
Meadows	FL	—		2,304		6,670		202			2,304		6,872		9,176		(1,895		)	1997	5/23/2002
Medical & Merchants	FL	—		10,323		12,174		(9,184		)	10,323		2,989		13,312		(3,018		)	1993	5/27/2004
Middle Beach Shopping Center	FL	—		2,195		5,542		(3,948		)	871		2,918		3,789		(1,217		)	1994	12/23/2003
North Village Center	SC	—		2,860		2,774		(3,154		)	2,480		—		2,480		—			1984	2/12/2003
NSB Regional	FL	—		3,217		8,896		269			3,217		9,165		12,382		(2,270		)	1987	2/12/2003
Oak Hill	FL	—		690		2,760		1,564			690		4,324		5,014		(1,472		)	1985	12/7/1995
Oakbrook Square (2)	FL	—		7,706		16,079		4,215			7,706		20,294		28,000		(5,883		)	1974	8/15/2000
Oaktree Plaza	FL	—		1,589		2,275		283			1,589		2,558		4,147		(443		)	1985	10/16/2006

			INITIAL COST TO  COMPANY		Capitalized Subsequent to Acquisition or Improvements (1)		GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD
Property	Location	Encumbrances	Land	Building & Improvements			Land	Building & Improvements	Total	Accumulated Depreciation		Date of Construction	Date Acquired
Old Kings Commons	FL	—	1,420	5,005	429		1,420	5,434	6,854	(1,352	)	1988	2/12/2003
Pablo Plaza	FL	—	5,327	12,676	379		5,424	12,958	18,382	(1,583	)	1973	8/31/2010
Park Promenade	FL	—	2,670	6,444	345		2,670	6,789	9,459	(2,510	)	1987	1/31/1999
Paulding Commons	GA	—	3,848	11,985	4,784		3,848	16,769	20,617	(3,263	)	1991	2/12/2003
Pavilion	FL	—	10,827	11,299	6,575		10,827	17,874	28,701	(3,914	)	1982	2/4/2004
Piedmont Peachtree Crossing	GA	—	34,338	17,992	830		34,338	18,822	53,160	(3,717	)	1978	3/6/2006
Pine Island	FL	—	8,557	12,860	2,467		8,557	15,327	23,884	(4,862	)	1983	8/26/1999
Pine Ridge Square	FL	—	6,528	9,850	6,657		6,528	16,507	23,035	(2,909	)	1986	2/12/2003
Plaza Acadienne	LA	—	2,108	168	159		2,108	327	2,435	(74	)	1980	2/12/2003
Plaza Alegre	FL	—	2,011	9,191	217		1,866	9,553	11,419	(3,499	)	2003	2/26/2002
Plaza Escuela	CA	—	10,041	63,038	1,175		10,041	64,213	74,254	(2,726	)	2002	1/4/2011
Point Royale	FL	—	3,720	5,005	3,338		4,784	7,279	12,063	(3,053	)	1970	7/27/1995
Post Road Plaza	CT	—	9,807	2,707	—		9,807	2,707	12,514	(116	)	1978	3/1/2012
Potrero Center	CA	—	48,594	74,701	55		48,594	74,756	123,350	(1,802	)	1968	3/1/2012
Powers Ferry Plaza	GA	—	3,236	5,227	548		3,236	5,775	9,011	(1,790	)	1979	2/12/2003
Prosperity Centre	FL	—	4,597	13,838	956		4,597	14,794	19,391	(4,864	)	1993	8/15/2000
Providence Square	NC	—	1,112	2,575	(1,092	)	567	2,028	2,595	(788	)	1973	2/12/2003
Quincy Star Market	MA	—	6,121	18,444	—		6,121	18,444	24,565	(4,091	)	1965	10/7/2004
Ralph’s Circle Center	CA	—	9,833	5,856	890		9,833	6,746	16,579	(462	)	1983	7/14/2011
Regency Crossing	FL	—	1,982	6,524	102		1,982	6,626	8,608	(1,692	)	1986	2/12/2003
Ridge Plaza	FL	—	3,905	7,450	1,659		3,905	9,109	13,014	(3,217	)	1984	8/15/2000
River Green (land)	GA	—	2,587	—	(1,087	)	695	805	1,500	—		n/a	9/27/2005
Riverside Square	FL	—	6,423	8,260	389		5,623	9,449	15,072	(2,417	)	1987	2/12/2003
Riverview Shopping Center	NC	—	2,202	4,745	2,167		2,202	6,912	9,114	(1,610	)	1973	2/12/2003
Ryanwood Square	FL	—	2,281	6,880	1,044		2,608	7,597	10,205	(2,117	)	1987	8/15/2000
Salerno Village Square	FL	—	2,291	1,511	5,242		2,291	6,753	9,044	(1,533	)	1987	5/6/2002
Sawgrass Promenade	FL	—	3,280	9,351	2,314		3,280	11,665	14,945	(4,239	)	1982	8/15/2000
Serramonte Shopping Center	CA	—	81,049	119,765	15,087		80,999	134,902	215,901	(10,527	)	1968	1/4/2011
Seven Hills	FL	—	2,167	5,167	638		2,167	5,805	7,972	(1,345	)	1991	2/12/2003
Shaw’s @ Medford	MA	—	7,750	11,390	—		7,750	11,390	19,140	(2,515	)	1995	10/7/2004
Shaw’s @ Plymouth	MA	—	4,917	12,199	—		4,917	12,199	17,116	(2,691	)	1993	10/7/2004
Sheridan Plaza	FL	61,488	38,888	36,241	6,561		38,888	42,802	81,690	(10,710	)	1973	7/14/2003
Sherwood South	LA	—	746	2,412	1,068		746	3,480	4,226	(1,130	)	1972	2/12/2003
Shipyard Plaza	MS	—	1,337	1,653	283		1,337	1,936	3,273	(613	)	1987	2/12/2003
Shoppes at Andros Isle	FL	—	6,009	7,832	92		6,009	7,924	13,933	(1,295	)	2000	12/8/2006
Shoppes at Silverlakes	FL	—	10,306	10,131	2,621		10,306	12,752	23,058	(3,084	)	1995	2/12/2003
Shoppes of Eastwood	FL	—	1,688	6,976	(1,774	)	6,890	—	6,890	—		1999	6/28/2002
Shoppes of Jonathan’s Landing	FL	—	1,146	3,442	244		1,146	3,686	4,832	(1,192	)	1997	8/15/2000
Shoppes of North Port	FL	—	1,452	5,807	1,123		1,452	6,930	8,382	(1,930	)	1991	12/5/2000
Shops at Skylake	FL	—	15,226	7,206	24,884		15,226	32,090	47,316	(8,358	)	1999	8/19/1997
Siegen Village	LA	—	4,329	9,691	5		4,329	9,696	14,025	(2,867	)	1988	2/12/2003
Smyth Valley Crossing	VA	—	2,537	3,890	690		2,537	4,580	7,117	(1,003	)	1989	2/12/2003
South Beach	FL	—	9,545	19,228	5,197		9,545	24,425	33,970	(6,398	)	1990	2/12/2003

				INITIAL COST TO  COMPANY				Capitalized Subsequent to Acquisition or Improvements (1)			GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD
Property	Location	Encumbrances		Land		Building & Improvements					Land		Building & Improvements			Total			Accumulated Depreciation			Date of Construction	Date Acquired
South Point	FL	6,924		7,142		7,098		76			7,142		7,174			14,316			(1,139		)	2003	12/8/2006
Southbury Green	CT	21,000		18,483		31,857		5,254			18,744		36,850			55,594			(1,578		)	1997	10/27/2011
Spalding Village	GA	—		4,709		4,972		286			4,709		5,258			9,967			(1,636		)	1989	2/12/2003
St. Lucie Land	FL	—		7,728		—		(2,128		)	3,640		1,960			5,600			—			n/a	11/27/2006
Stanley Market Place	NC	—		396		669		4,954			396		5,623			6,019			(924		)	2007	2/12/2003
Star’s at Cambridge	MA	—		11,358		13,854		—			11,358		13,854			25,212			(3,062		)	1953	10/7/2004
Summerlin Square	FL	—		2,187		7,989		(2,995		)	6,472		709			7,181			(258		)	1986	6/10/1998
Sun Point	FL	—		4,025		4,228		1,772			4,025		6,000			10,025			(2,099		)	1984	5/5/2006
Sunlake-Equity One LLC	FL	—		9,861		—		34,610			16,589		27,882			44,471			(1,984		)	2010	2/1/2005
Tamarac Town Square	FL	—		4,742		5,610		751			4,643		6,460			11,103			(1,793		)	1987	2/12/2003
Tarpon Heights	LA	—		1,133		631		223			1,133		854			1,987			(259		)	1982	2/12/2003
TD Bank Skylake	FL	—		2,041		—		453			2,064		430			2,494			(16		)	n/a	12/17/2009
The Boulevard	LA	—		1,360		1,675		628			1,360		2,303			3,663			(782		)	1976	2/12/2003
The Crossing	LA	—		1,591		3,650		789			1,591		4,439			6,030			(1,102		)	1988	2/12/2003
The Gallery at Westbury	NY	—		27,481		3,537		79,966			26,079		84,905			110,984			(510		)	2012	11/16/2009
The Plaza at St. Lucie West	FL	—		790		3,082		964			790		4,046			4,836			(728		)	n/a	8/15/2000
Thomasville Commons	NC	—		1,212		4,567		1,829			1,212		6,396			7,608			(1,567		)	1991	2/12/2003
Town & Country	FL	—		2,503		4,397		277			2,354		4,823			7,177			(1,348		)	1993	2/12/2003
Treasure Coast Plaza (2)	FL	—		1,359		9,728		911			1,359		10,639			11,998			(2,608		)	1983	2/12/2003
Unigold	FL	—		4,304		6,413		1,587			4,304		8,000			12,304			(2,080		)	1987	2/12/2003
Union City Commons (land)	GA	—		8,084		—		(5,509		)	1,754		821			2,575			—			n/a	6/22/2006
Village at Northshore	LA	—		1,034		10,128		195			1,034		10,323			11,357			(2,529		)	1988	2/12/2003
Von's Circle West	CA	10,793		18,219		18,909		2,586			18,274		21,440			39,714			(1,368		)	1972	3/16/2011
Walden Woods	FL	—		950		3,780		1,158			881		5,007			5,888			(2,627		)	1985	1/1/1999
Walton Plaza	GA	—		869		2,827		30			869		2,857			3,726			(717		)	1990	2/12/2003
Waterstone	FL	—		1,422		7,508		328			1,422		7,836			9,258			(1,450		)	2005	4/10/1992
Webster Plaza	MA	7,070		5,033		14,465		1,657			5,033		16,122			21,155			(2,690		)	1963	10/12/2006
Webster Plaza Solar Project	MA	—		—		—		732			—		732			732			(43		)	n/a	n/a
Wesley Chapel Crossing	GA	—		6,389		4,311		4,890			6,389		9,201			15,590			(2,771		)	1989	2/12/2003
West Bird Plaza	FL	—		5,280		12,539		401			5,280		12,940			18,220			(1,183		)	1977	8/31/2010
West Lakes Plaza	FL	—		2,141		5,789		602			2,141		6,391			8,532			(2,634		)	1984	11/6/1996
West Roxbury Shaw's Plaza	MA	—		9,207		13,588		1,967			9,207		15,555			24,762			(3,409		)	1973	10/7/2004
Westbury Plaza	NY	—		37,853		58,273		10,123			40,843		65,406			106,249			(5,871		)	1993	10/29/2009
Westport Outparcels	FL	—		1,347		1,010		5			1,347		1,015			2,362			(168		)	1990	9/14/2006
Westport Plaza	FL	3,890		4,180		3,446		191			4,180		3,637			7,817			(846		)	2002	12/17/2004
Westridge	GA	—		1,696		4,390		652			6,738		—			6,738			—			2006	2/12/2003
Whole Foods at Swampscott	MA	—		5,139		6,539		—			5,139		6,539			11,678			(1,439		)	1967	10/7/2004
Williamsburg at Dunwoody	GA	—		4,347		3,615		839			4,347		4,454			8,801			(1,082		)	1983	2/12/2003
Willowdale Shopping Center	NC	—		1,322		6,078		1,645			1,322		7,723			9,045			(2,398		)	1986	2/12/2003
Willows Shopping Center	CA	55,245		20,999		38,007		5,081			21,037		43,050			64,087			(3,230		)	1977	1/4/2011
Windy Hill	SC	—		987		1,906		(127		)	2,766		—			2,766			—			1968	4/8/2004
Young Circle	FL	—		13,409		8,895		437			13,409		9,332			22,741			(1,856		)	1962	5/19/2005
Corporate	FL	—		—		242		(9,623		)	289		(9,670		)	(9,381		)	132			various	various
		$	439,156	$	1,264,295	$	1,747,160	$	330,643		$	1,315,666	$	2,026,432		$	3,342,098		$	(335,862	)

⁽¹⁾ Includes only asset impairments recognized.

⁽²⁾ Aventura Square encumbrance is cross collateralized with Oakbrook Square and Treasure Coast Plaza.

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Other Assets (Tables)

12 Months Ended

Dec. 31, 2012

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Composition of Other Assets

The following is a summary of the composition of the other assets in the consolidated balance sheets:

	December 31,
	2012		2011
	(In thousands)
Lease intangible assets, net	$	130,681	$	92,533
Leasing commissions, net	36,443		28,260
Prepaid expenses and other receivables	24,393		2,176
Straight-line rent receivable, net	20,937		17,101
Deferred financing costs, net	10,777		8,653
Deposits and mortgage escrow	5,231		34,554
Deferred tax asset	2,968		3,229
Furniture and fixtures, net	2,519		2,234
Total other assets	$	233,949	$	188,740

Composition Of Intangible Assets And Accumulated Amortization

The following is a summary of the composition of our intangible assets and accumulated amortization in the consolidated balance sheets:

	December 31,
	2012		2011
	(In thousands)
Lease intangible assets:
Above-market leases	$	25,331	$	19,592
In-place lease interests	124,356		107,696
Ground lease (1)	34,094		—
Lease origination costs	4,008		4,185
Lease incentives	5,050		4,333
Total intangibles	192,839		135,806
Accumulated amortization:
Above-market leases	9,476		6,429
In-place lease interests	48,258		33,295
Ground lease (1)	191		—
Lease origination costs	2,646		2,486
Lease incentives	1,587		1,063
Total accumulated amortization	62,158		43,273
Lease intangible assets, net	$	130,681	$	92,533

^{___________________________________________} 

⁽¹⁾ Ground lease primarily related to the Darinor Plaza acquisition in 2012. Ground lease expires in 2076.

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Acquisition Of A Controlling Interest In CapCo (Reconciliation Of Gain On Bargain Purchase) (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	Jan. 04, 2011
Acquisition Of A Controlling Interest In CapCo [Abstract]
Fair value of net assets acquired		$ 310,404
Fair value of consideration transferred		(73,698)
Fair value of noncontrolling interest		(206,145)		(206,145)
Gain on bargain purchase		$ 30,561

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Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Dec. 31, 2012		Dec. 31, 2011
ASSETS
Income producing	$ 3,148,968		$ 2,830,025
Less: accumulated depreciation	(335,862)		(277,197)
Income producing properties, net	2,813,106		2,552,828
Construction in progress and land held for development	108,721		111,844
Properties held for sale	84,409		144,451
Properties, net	3,006,236		2,809,123
Cash and cash equivalents	27,416		10,963
Cash held in escrow and restricted cash	442		92,561
Accounts and other receivables, net	14,320		17,790
Investments in and advances to unconsolidated joint ventures	72,171	[1]	50,158	[1]
Loans receivable, net	140,708		45,279
Goodwill	7,426		7,957
Other assets	233,949		188,740
TOTAL ASSETS (including $111,100 and $109,200 of consolidated variable interest entities at December 31, 2012 and 2011, respectively)	3,502,668	[2]	3,222,571	[2]
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY
Mortgage notes payable	439,156		459,677
Unsecured senior notes payable	731,136		691,136
Term loan	250,000
Unsecured revolving credit facilities	172,000		138,000
Total notes payable, Gross	1,592,292		1,288,813
Unamortized premium on notes payable, net	7,058		7,896
Total notes payable	1,599,350		1,296,709
Other liabilities:
Accounts payable and accrued expenses	55,248		50,514
Tenant security deposits	9,041		8,208
Deferred tax liability	12,016		14,709
Other liabilities	196,658		164,140
Liabilities associated with assets held for sale	3,325		40,285
Total liabilities (including $63,000 and $61,900 of consolidated variable interest entities at December 31, 2012 and 2011, respectively)	1,875,638	[2]	1,574,565	[2]
Redeemable noncontrolling interests	22,551		22,804
Commitments and contingencies
Stockholders' Equity:
Preferred stock, $0.01 par value – 10,000 shares authorized but unissued
Common stock, $0.01 par value – 150,000 shares authorized, 116,938 and 112,599 shares issued and outstanding at December 31, 2012 and 2011, respectively	1,169		1,126
Additional paid-in capital	1,679,227		1,587,874
Distributions in excess of earnings	(276,085)		(170,530)
Accumulated other comprehensive loss	(7,585)		(1,154)
Total stockholders' equity of Equity One, Inc.	1,396,726		1,417,316
Noncontrolling interests	207,753		207,886
Total equity	1,604,479		1,625,202
TOTAL LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY	$ 3,502,668		$ 3,222,571

[1] With the exception of the Madison 2260 Realty LLC and Madison 1235 Realty LLC joint ventures, which are accounted for under the cost method, all unconsolidated joint ventures are accounted for under the equity method.

[2] The assets of these entities can only be used to settle obligations of the variable interest entities and the liabilities include third party liabilities of the variable interest entities for which the creditors or beneficial interest holders do not have recourse against us other than for customary environmental indemnifications and non-recourse carve-outs.

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Properties (Tables)

12 Months Ended

Dec. 31, 2012

Property, Plant and Equipment [Abstract]

Summary Of The Composition Of Income Producing Properties

The following table is a summary of the composition of income producing properties in the consolidated balance sheets:

	December 31,
	2012			2011
	(In thousands)
Land and land improvements	$	1,362,343		$	1,211,691
Building and building improvements	1,688,791			1,520,772
Tenant improvements	97,834			97,562
	3,148,968			2,830,025
Less: accumulated depreciation	(335,862		)	(277,197		)
Income producing property, net	$	2,813,106		$	2,552,828

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Income Taxes (Taxable REIT Subsidiaries) (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Income Tax Disclosure [Abstract]
U.S. income (loss) before income taxes	$ (7,452)	$ (97,219)	$ (9,265)
Foreign (loss) income before income taxes	(15)	(739)	(2,342)
Total income (loss) before income taxes	(7,467)	(97,958)	(11,607)
Current federal and state	72	(405)	430
Deferred federal and state	2,431	35,044	3,335
Income Tax Expense (Benefit)	(2,503)	(34,639)	(3,765)
Net (loss) income from taxable REIT subsidiaries	$ (4,964)	$ (63,319)	$ (7,842)

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Segment Reporting (Financial Information Relating to Operations Presented by Segments) (Details) (USD $) In Thousands, unless otherwise specified	1 Months Ended	3 Months Ended	12 Months Ended
	Oct. 31, 2012	Dec. 31, 2012	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Revenues from External Customers and Long-Lived Assets [Line Items]
Total segment revenues			$ 306,604	$ 266,613	$ 209,679
Straight line rent adjustment			3,837	2,377	2,018
Accretion of below market lease intangibles, net			12,681	8,931	4,755
Management and leasing services			2,489	2,287	1,557
Total revenue			325,611	280,208	218,009
Net operating income			208,733	179,990	142,678
Elimination of intersegment expenses			10,226	7,497	6,408
Investment income			7,248	4,342	930
Equity in income of unconsolidated joint ventures			542	4,829	(116)
Other (loss) income			45	406	648
Gain on bargain purchase				30,561
Gain on sale of real estate				5,541	254
Gain on extinguishment of debt	(30,200)		(29,153)	(2,175)	33
Rental property depreciation and amortization			86,006	81,446	48,294
General and administrative			42,474	50,976	41,360
Interest expense			72,175	68,964	62,734
Amortization of deferred financing fees			2,479	2,207	1,891
Impairment loss		18,824	22,772	19,158	464
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE TAX AND DISCONTINUED OPERATIONS			(9,258)	21,835	4,422
South Florida [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total segment revenues			91,398	86,203	87,150
Net operating income			61,577	57,008	56,741
Impairment loss				3,800	29
North Florida [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total segment revenues			43,944	45,973	44,500
Net operating income			30,877	31,772	31,028
Impairment loss			9,800	266	162
Southeast [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total segment revenues			47,694	46,654	46,739
Net operating income			33,685	32,574	32,854
Impairment loss			12,300	15,100	273
Northeast [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total segment revenues			53,197	35,997	30,387
Net operating income			36,639	25,608	21,905
West Coast [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total segment revenues			67,583	48,940	0
Net operating income			44,597	31,921	0
Impairment loss			140
Non-retail [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total segment revenues			2,788	2,846	903
Net operating income			$ 1,358	$ 1,107	$ 150

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Consolidated Statement of Equity (USD $) In Thousands, except Share data	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Distributions in Excess of Earnings [Member]	Contingent Consideration [Member]	Accumulated Other Comprehensive Loss [Member]	Total Stockholders' Equity of Equity One, Inc. [Member]	Non-controlling Interests [Member]
BALANCE (beginning of period) at Dec. 31, 2009	$ 1,087,713	$ 861	$ 1,110,427	$ (46,810)	$ 323	$ (266)	$ 1,064,535	$ 23,178
BALANCE, shares (beginning of period) at Dec. 31, 2009		86,131,000
Issuance of common stock, net of withholding taxes	270,698	157	270,541				270,698
Issuance of common stock, net of withholding taxes (in shares)		15,659,000
Stock issuance costs	(3,319)		(3,319)				(3,319)
Share-based compensation expense	6,551		6,551				6,551
Net (loss) income, excluding net income attributable to redeemable noncontrolling interests	24,419			25,112			25,112	(693)
Dividends paid on common stock	(83,611)			(83,611)			(83,611)
Acquisition of subsidiaries	2,352							2,352
Acquisition of subsidiaries, shares
Purchase of subsidiary shares from noncontrolling interests	(13,659)	5	7,562		(323)		7,244	(20,903)
Purchase of subsidiary shares from noncontrolling interests, shares		537,000
Other comprehensive loss	(1,303)					(1,303)	(1,303)
BALANCE, (end of period) at Dec. 31, 2010	1,289,841	1,023	1,391,762	(105,309)		(1,569)	1,285,907	3,934
BALANCE, shares (end of period) at Dec. 31, 2010		102,327,000
Issuance of common stock, net of withholding taxes	116,542	62	116,480				116,542
Issuance of common stock, net of withholding taxes (in shares)		6,211,000
Stock issuance costs	(1,185)		(1,185)				(1,185)
Share-based compensation expense	7,160		7,160				7,160
Net (loss) income, excluding net income attributable to redeemable noncontrolling interests	43,075			33,621			33,621	9,454
Dividends paid on common stock	(98,842)			(98,842)			(98,842)
Distributions to noncontrolling interests	(11,405)			0				(11,405)
Acquisition of subsidiaries	279,843	41	73,657	0			73,698	206,145
Acquisition of subsidiaries, shares		4,051,000
Purchase of subsidiary shares from noncontrolling interests	(242)							(242)
Conversion of Class A share by LIH, shares		10,000
Other comprehensive loss	415					415	415
BALANCE, (end of period) at Dec. 31, 2011	1,625,202	1,126	1,587,874	(170,530)		(1,154)	1,417,316	207,886
BALANCE, shares (end of period) at Dec. 31, 2011	112,599,000	112,599,000
Issuance of common stock, net of withholding taxes	85,838	43	85,795				85,838
Issuance of common stock, net of withholding taxes (in shares)		4,339,000
Stock issuance costs	(883)		(883)				(883)
Share-based compensation expense	7,113		7,113				7,113
Restricted stock reclassified from liability to equity	101		101				101
Net (loss) income, excluding net income attributable to redeemable noncontrolling interests	6,385			(3,477)			(3,477)	9,862
Dividends paid on common stock	(102,078)			(102,078)
Distributions to noncontrolling interests	(9,995)							(9,995)
Revaluation of redeemable noncontrolling interest	185		185				185
Purchase of subsidiary shares from noncontrolling interests	(958)		(958)				(958)
Other comprehensive loss	(6,431)					(6,431)	(6,431)	0
BALANCE, (end of period) at Dec. 31, 2012	$ 1,604,479	$ 1,169	$ 1,679,227	$ (276,085)	$ 0	$ (7,585)	$ 1,396,726	$ 207,753
BALANCE, shares (end of period) at Dec. 31, 2012	116,938,000	116,938,000

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Income Taxes (Schedule Of Reconciles GAAP Net Income To Taxable Income) (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended																12 Months Ended
	Dec. 31, 2012		Sep. 30, 2012		Jun. 30, 2012		Mar. 31, 2012		Dec. 31, 2011		Sep. 30, 2011		Jun. 30, 2011		Mar. 31, 2011		Dec. 31, 2012		Dec. 31, 2011		Dec. 31, 2010
Income Tax Disclosure [Abstract]
Net Income (Loss) Attributable to Parent	$ (32,792)	[1],[2]	$ 8,065	[1]	$ 2,268	[1]	$ 18,982	[1]	$ (3,702)	[1]	$ (4,657)	[1],[3]	$ 6,986	[1]	$ 34,994	[1],[4]	$ (3,477)		$ 33,621		$ 25,112
Net (income) loss attributable to taxable REIT subsidiaries																	4,964		63,319		7,842
GAAP net income from REIT operations																	1,487		96,940		32,954
Book/tax differences for joint ventures																	4,964		(2,671)		(1,929)
Book/tax difference for depreciation																	7,135		6,952		3,236
Book/tax difference on sale of property																	(925)		(44,819)		(1,386)
Bargain purchase gain																			(30,561)
Book/tax difference on exercise of stock options and restricted shares																	6,390		4,506		4,928
Book/tax difference for interest expense																	3,152		1,002		(180)
Deferred/prepaid/above and below-market rents, net																	(2,388)		(1,711)		318
GAAP impairment loss																	21,511		14,866		525
Book/tax difference for amortization																	144		(84)		842
Book/tax difference for acquisition costs																	1,941		5,982		7,057
Other book/tax differences, net																	(1,458)		53		26
Inclusion from foreign taxable REIT subsidiary																	0		10,502
Adjusted taxable income subject to 90% dividend requirements																	$ 41,953	[5]	$ 60,957	[5]	$ 46,391	[5]

[1] Reclassified to reflect the reporting of discontinued operations. Note that the sum of the individual quarters per share data may not foot to the year-to-date totals due to the rounding of the individual calculations.

[2] During the fourth quarter of 2012, we recognized a loss on early extinguishment of debt of $30.2 million (including $1.1 million in discontinued operations), primarily comprised of a make-whole premium and deferred fees and costs of $29.6 million associated with the redemption of all of our $250 million 6.25% unsecured senior notes, which were scheduled to mature on December 15, 2014. Additionally, during the fourth quarter of 2012, we recognized impairment losses of $18.8 million in continuing operations and $798,000 in discontinued operations. See Note 7 for further discussion of impairments.

[3] During the fourth quarter of 2011, we identified and corrected an immaterial error related to the allocation of earnings between continuing and discontinued operations. Net loss from continuing operations for the third quarter was understated by $1.6 million, or $0.02 per basic and diluted share, and net income from discontinued operations was understated by $1.6 million, or $0.01 per basic and diluted share. Net loss per basic and diluted share were not affected. No other quarters were impacted by the reclassification of earnings between continuing and discontinued operations.

[4] During the first quarter of 2011, we recognized a gain on bargain purchase of $30.6 million related to our CapCo acquisition.

[5] Adjusted taxable income subject to 90% dividend requirements.

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Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2012

Segment Reporting [Abstract]

Financial Information Relating to Operations Presented by Segments

The following table sets forth the financial information relating to our continuing operations presented by segments and includes a reconciliation of NOI to (loss) income from continuing operations before tax and discontinued operations, the most directly comparable GAAP financial measure:

	Year Ended December 31,
	2012			2011			2010
	(In thousands)
Revenue:
South Florida	$	91,398		$	86,203		$	87,150
North Florida	43,944			45,973			44,500
Southeast	47,694			46,654			46,739
Northeast	53,197			35,997			30,387
West Coast	67,583			48,940			—
Non-retail	2,788			2,846			903
Total segment revenue	306,604			266,613			209,679
Add:
Straight line rent adjustment	3,837			2,377			2,018
Accretion of below market lease intangibles, net	12,681			8,931			4,755
Management and leasing services	2,489			2,287			1,557
Total revenue	$	325,611		$	280,208		$	218,009
Net operating income (NOI):
South Florida	$	61,577		$	57,008		$	56,741
North Florida	30,877			31,772			31,028
Southeast	33,685			32,574			32,854
Northeast	36,639			25,608			21,905
West Coast	44,597			31,921			—
Non-retail	1,358			1,107			150
Total	208,733			179,990			142,678
Add:
Straight line rent adjustment	3,837			2,377			2,018
Accretion of below market lease intangibles, net	12,681			8,931			4,755
Management and leasing services	2,489			2,287			1,557
Elimination of intersegment expenses	10,226			7,497			6,408
Investment income	7,248			4,342			930
Equity in income (loss) of unconsolidated joint ventures	542			4,829			(116		)
Other income	45			406			648
Gain on bargain purchase	—			30,561			—
Gain on sale of real estate	—			5,541			254
(Loss) gain on extinguishment of debt	(29,153		)	(2,175		)	33
Less:
Rental property depreciation and amortization	86,006			81,446			48,294
General and administrative	42,474			50,976			41,360
Interest expense	72,175			68,964			62,734
Amortization of deferred financing fees	2,479			2,207			1,891
Impairment loss	22,772			19,158			464
(Loss) income from continuing operations before tax and discontinued     operations	$	(9,258	)	$	21,835		$	4,422

Financial Information Relating to Assets Presented by Segments

	December 31,
	2012		2011
	(In thousands)
Assets:
South Florida	$	712,101	$	717,434
North Florida	352,943		362,460
Southeast	396,944		415,521
Northeast	894,658		645,439
West Coast	821,347		714,227
Non-retail	33,525		34,023
Corporate assets	206,741		189,016
Properties held for sale	84,409		144,451
Total assets	$	3,502,668	$	3,222,571

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Income Taxes (Statutory Federal Income Tax Rate To Taxable Income Before Income Taxes For Continuing Operations) (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2012		Dec. 31, 2011		Dec. 31, 2010
Income Tax Contingency [Line Items]
Federal benefit (provision) at statutory tax rate	$ 2,616	[1]	$ 34,205	[1]	$ 4,040	[1]
State taxes, net of federal benefit	272		3,187		406
Foreign tax rate differential	(7)		(2)		(48)
Other	(370)		574		(622)
Valuation allowance (increase) decrease	(8)		(10)		(11)
Total tax benefit	2,503		34,639		3,765
Continuing Operations [Member]
Income Tax Contingency [Line Items]
Federal benefit (provision) at statutory tax rate	2,616		3,869		2,248
State taxes, net of federal benefit	272		442		257
Foreign tax rate differential	(7)		(2)		(48)
Other	(370)		765		(722)
Valuation allowance (increase) decrease	(8)		(10)		(11)
Total tax benefit	$ 2,503		$ 5,064		$ 1,724
Maximum [Member]
Income Tax Contingency [Line Items]
Projected taxable income	35.00%

[1] Rate of 34% or 35% used, dependent on the projected taxable income levels of our TRSs.

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Condensed Consolidating Financial Information

12 Months Ended

Dec. 31, 2012

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Consolidating Financial Information

Condensed Consolidating Financial Information

Many of our subsidiaries have guaranteed our indebtedness under the unsecured senior notes and the revolving credit facilities. The guarantees are joint and several and full and unconditional. The following statements set forth consolidating financial information with respect to guarantors of our unsecured senior notes:

Condensed Consolidating Balance Sheet As of December 31, 2012	Equity One, Inc.			Combined Guarantor Subsidiaries			Non- Guarantor Subsidiaries		Eliminating Entries			Consolidated
	(In thousands)
ASSETS
Properties, net	$	264,506		$	1,338,620		$	1,403,243	$	(133	)	$	3,006,236
Investment in affiliates	1,228,310			—			—		(1,228,310		)	—
Other assets	354,460			79,369			855,396		(792,793		)	496,432
Total Assets	$	1,847,276		$	1,417,989		$	2,258,639	$	(2,021,236	)	$	3,502,668
LIABILITIES
Mortgage notes payable	$	—		$	57,979		$	381,177	$	—		$	439,156
Unsecured senior notes payable	731,136			—			—		—			731,136
Other notes payable	600,000			93,600			67,000		(760,600		)	—
Term loan	250,000			—			—		—			250,000
Unsecured revolving credit facilities	172,000			—			—		—			172,000
Unamortized/unaccreted (discount) premium on notes payable	(2,006		)	(151		)	9,215		—			7,058
Other liabilities	18,646			112,510			163,056		(21,249		)	272,963
Liabilities associated with properties held    for sale	3,057			268			—		—			3,325
Total Liabilities	1,772,833			264,206			620,448		(781,849		)	1,875,638
REDEEMABLE NONCONTROLLING    INTERESTS	—			—			—		22,551			22,551
EQUITY	74,443			1,153,783			1,638,191		(1,261,938		)	1,604,479
TOTAL LIABILITIES, REDEEMABLE    NONCONTROLLING INTERESTS    AND EQUITY	$	1,847,276		$	1,417,989		$	2,258,639	$	(2,021,236	)	$	3,502,668

Condensed Consolidating Balance Sheet As of December 31, 2011	Equity One, Inc.			Combined Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminating Entries			Consolidated
	(In thousands)
ASSETS
Properties, net	$	269,728		$	1,297,302	$	1,242,139	$	(46	)	$	2,809,123
Investment in affiliates	1,228,310			—		—		(1,228,310		)	—
Other assets	344,587			52,200		855,502		(838,841		)	413,448
Total Assets	$	1,842,625		$	1,349,502	$	2,097,641	$	(2,067,197	)	$	3,222,571
LIABILITIES
Mortgage notes payable	$	17,525		$	39,327	$	402,825	$	—		$	459,677
Unsecured senior notes payable	691,136			—		—		—			691,136
Other notes payable	600,000			93,600		67,000		(760,600		)	—
Unsecured revolving credit facilities	138,000			—		—		—			138,000
Unamortized/unaccreted (discount) premium on notes payable	(2,718		)	296		10,318		—			7,896
Other liabilities	20,362			102,146		145,883		(30,820		)	237,571
Liabilities associated with properties held    for sale	11,400			1,298		27,587		—			40,285
Total Liabilities	1,475,705			236,667		653,613		(791,420		)	1,574,565
REDEEMABLE NONCONTROLLING    INTERESTS	—			—		—		22,804			22,804
EQUITY	366,920			1,112,835		1,444,028		(1,298,581		)	1,625,202
TOTAL LIABILITIES, REDEEMABLE    NONCONTROLLING INTERESTS AND    EQUITY	$	1,842,625		$	1,349,502	$	2,097,641	$	(2,067,197	)	$	3,222,571

Condensed Consolidating Statement of Comprehensive (Loss) Income for the year ended December 31, 2012	Equity One Inc.			Combined Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminating Entries			Consolidated
	(In thousands)
Total revenue	$	33,189		$	156,774		$	136,036		$	(388	)	$	325,611
Equity in subsidiaries' earnings	115,148			—			—			(115,148		)	—
Total costs and expenses	48,931			83,820			83,997			(623		)	216,125
INCOME BEFORE OTHER INCOME AND EXPENSE, TAX AND DISCONTINUED OPERATIONS	99,406			72,954			52,039			(114,913		)	109,486
Other income and expenses	(103,061		)	(19,219		)	4,402			(866		)	(118,744		)
(LOSS) INCOME FROM CONTINUING    OPERATIONS BEFORE TAX AND    DISCONTINUED OPERATIONS	(3,655		)	53,735			56,441			(115,779		)	(9,258		)
Income tax (expense) benefit of taxable REIT    subsidiaries	—			(262		)	2,765			—			2,503
(LOSS) INCOME FROM CONTINUING    OPERATIONS	(3,655		)	53,473			59,206			(115,779		)	(6,755		)
Income (loss) from discontinued operations	636			(1,226		)	14,188			382			13,980
NET (LOSS) INCOME	(3,019		)	52,247			73,394			(115,397		)	7,225
Other comprehensive (loss) income	(6,889		)	—			458			—			(6,431		)
COMPREHENSIVE (LOSS) INCOME	(9,908		)	52,247			73,852			(115,397		)	794
Comprehensive income attributable to noncontrolling interests	—			—			(10,702		)	—			(10,702		)
COMPREHENSIVE (LOSS) INCOME     ATTRIBUTABLE TO EQUITY ONE, INC.	$	(9,908	)	$	52,247		$	63,150		$	(115,397	)	$	(9,908	)

Condensed Consolidating Statement of Comprehensive Income for the year ended December 31, 2011	Equity One Inc.			Combined Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminating Entries			Consolidated
	(In thousands)
Total revenue	$	32,901		$	149,164		$	98,143		$	—		$	280,208
Equity in subsidiaries' earnings	138,930			—			—			(138,930		)	—
Total costs and expenses	51,728			85,259			72,411			2,150			211,548
INCOME BEFORE OTHER INCOME AND EXPENSE, TAX AND DISCONTINUED OPERATIONS	120,103			63,905			25,732			(141,080		)	68,660
Other income and expenses	(94,795		)	(25,032		)	77,086			(4,084		)	(46,825		)
INCOME FROM CONTINUING    OPERATIONS BEFORE TAX AND    DISCONTINUED OPERATIONS	25,308			38,873			102,818			(145,164		)	21,835
Income tax benefit of taxable REIT subsidiaries	—			2,723			2,341			—			5,064
INCOME FROM CONTINUING    OPERATIONS	25,308			41,596			105,159			(145,164		)	26,899
Income (loss) from discontinued operations	8,664			43,005			(93,479		)	58,129			16,319
NET INCOME	33,972			84,601			11,680			(87,035		)	43,218
Other comprehensive income	64			—			351			—			415
COMPREHENSIVE INCOME	34,036			84,601			12,031			(87,035		)	43,633
Comprehensive income attributable to noncontrolling interests	—			—			(9,597		)	—			(9,597		)
COMPREHENSIVE INCOME     ATTRIBUTABLE TO EQUITY ONE, INC.	$	34,036		$	84,601		$	2,434		$	(87,035	)	$	34,036

Condensed Consolidating Statement of Comprehensive Income for the year ended December 31, 2010	Equity One Inc.			Combined Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminating Entries			Consolidated
	(In thousands)
Total revenue	$	33,618		$	146,048		$	38,445		$	(102	)	$	218,009
Equity in subsidiaries' earnings	71,387			—			—			(71,387		)	—
Total costs and expenses	49,472			75,360			23,588			1,827			150,247
INCOME BEFORE OTHER INCOME AND EXPENSE, TAX AND DISCONTINUED OPERATIONS	55,533			70,688			14,857			(73,316		)	67,762
Other income and expenses	(33,700		)	(13,466		)	(11,684		)	(4,490		)	(63,340		)
INCOME FROM CONTINUING    OPERATIONS BEFORE TAX AND    DISCONTINUED OPERATIONS	21,833			57,222			3,173			(77,806		)	4,422
Income tax (expense) benefit of taxable REIT    subsidiaries	(199		)	752			1,171			—			1,724
INCOME FROM CONTINUING    OPERATIONS	21,634			57,974			4,344			(77,806		)	6,146
Income (loss) from discontinued operations	2,457			10,854			(1,475		)	6,437			18,273
NET INCOME	24,091			68,828			2,869			(71,369		)	24,419
Other comprehensive loss	(282		)	—			(1,021		)	—			(1,303		)
COMPREHENSIVE INCOME	23,809			68,828			1,848			(71,369		)	23,116
Comprehensive loss attributable to    noncontrolling interests	—			—			693			—			693
COMPREHENSIVE INCOME     ATTRIBUTABLE TO EQUITY ONE, INC.	$	23,809		$	68,828		$	2,541		$	(71,369	)	$	23,809

Condensed Consolidating Statement of Cash Flows for the year ended December 31, 2012	Equity One, Inc.			Combined Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidated
	(In thousands)
Net cash (used in) provided by operating activities	$	(121,293	)	$	108,376		$	166,136		$	153,219
INVESTING ACTIVITIES:
Acquisition of income producing properties	—			(73,235		)	(170,314		)	(243,549		)
Additions to income producing properties	(4,853		)	(12,324		)	(2,998		)	(20,175		)
Acquisition of land held for development	—			(9,505		)	—			(9,505		)
Additions to construction in progress	(682		)	(63,683		)	(778		)	(65,143		)
Proceeds from sale of real estate and rental properties	1,417			15,342			25,235			41,994
Decrease in cash held in escrow	90,846			—			746			91,592
Increase in deferred leasing costs and lease intangibles	(1,739		)	(3,344		)	(2,086		)	(7,169		)
Investment in joint ventures	—			—			(26,392		)	(26,392		)
Repayments of advances to joint ventures	—			—			517			517
Distributions from joint ventures	—			—			567			567
Investment in loans receivable	(114,258		)	—			—			(114,258		)
Repayment of loans receivable	19,258			—			—			19,258
Advances to subsidiaries, net	(107,328		)	56,135			51,193			—
Net cash used in investing activities	(117,339		)	(90,614		)	(124,310		)	(332,263		)
FINANCING ACTIVITIES:
Repayments of mortgage notes payable	(6,585		)	(17,762		)	(41,826		)	(66,173		)
Net borrowings under revolving credit facilities	34,000			—			—			34,000
Proceeds from senior debt borrowings	296,823			—			—			296,823
Repayment of senior debt borrowings	(287,840		)	—			—			(287,840		)
Proceeds from issuance of common stock	85,838			—			—			85,838
Borrowings under term loan	250,000			—			—			250,000
Payment of deferred financing costs	(3,251		)	—			—			(3,251		)
Stock issuance costs	(883		)	—			—			(883		)
Dividends paid to stockholders	(102,078		)	—			—			(102,078		)
Distributions to noncontrolling interests	(9,995		)	—			—			(9,995		)
Distributions to redeemable noncontrolling interests	(944		)	—			—			(944		)
Net cash provided by (used in) financing activities	255,085			(17,762		)	(41,826		)	195,497
Net increase in cash and cash equivalents	16,453			—			—			16,453
Cash and cash equivalents at beginning of the year	10,963			—			—			10,963
Cash and cash equivalents at end of the year	$	27,416		$	—		$	—		$	27,416

Condensed Consolidating Statement of Cash Flows for the year ended December 31, 2011	Equity One, Inc.			Combined Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidated
	(In thousands)
Net cash provided by (used in) operating activities	$	98,588		$	27,461		$	(23,423	)	$	102,626
INVESTING ACTIVITIES:
Acquisition of income producing properties	(55,000		)	(55,500		)	(168,580		)	(279,080		)
Additions to income producing properties	(2,296		)	(11,377		)	(2,723		)	(16,396		)
Additions to construction in progress	(2,339		)	(40,376		)	(382		)	(43,097		)
Proceeds from sale of real estate and rental properties	3,206			11,705			384,485			399,396
Increase in cash held in escrow	(91,591		)	—			—			(91,591		)
Investment in loans receivable	(45,100		)	—			—			(45,100		)
Increase in deferred leasing costs and lease intangibles	(1,416		)	(4,142		)	(1,596		)	(7,154		)
Investment in joint ventures	—			—			(15,024		)	(15,024		)
Repayments of advances to joint ventures	—			—			34,887			34,887
Distributions from joint ventures	—			—			18,786			18,786
Investment in consolidated subsidiary	—			—			(242		)	(242		)
Advances to subsidiaries, net	(67,836		)	161,910			(94,074		)	—
Net cash (used in) provided by investing activities	(262,372		)	62,220			155,537			(44,615		)
FINANCING ACTIVITIES:
Repayments of mortgage notes payable	(1,808		)	(89,681		)	(155,375		)	(246,864		)
Net borrowings under revolving credit facilities	138,000			—			—			138,000
Proceeds from issuance of common stock	116,542			—			—			116,542
Payment of deferred financing costs	(4,888		)	—			(151		)	(5,039		)
Stock issuance costs	(1,185		)	—			—			(1,185		)
Dividends paid to stockholders	(98,842		)	—			—			(98,842		)
Distributions to redeemable noncontrolling interests	(11,405		)	—			—			(11,405		)
Net cash provided by (used in) financing activities	136,414			(89,681		)	(155,526		)	(108,793		)
Net decrease in cash and cash equivalents	(27,370		)	—			(23,412		)	(50,782		)
Cash and cash equivalents obtained through acquisition	—			—			23,412			23,412
Cash and cash equivalents at beginning of the year	38,333			—			—			38,333
Cash and cash equivalents at end of the year	$	10,963		$	—		$	—		$	10,963

Condensed Consolidating Statement of Cash Flows for the year ended December 31, 2010	Equity One, Inc.			Combined Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidated
Net cash (used in) provided by operating activities	$	(176,475	)	$	92,438		$	155,599		$	71,562
INVESTING ACTIVITIES:
Acquisition of income producing properties	—			(67,720		)	(40,376		)	(108,096		)
Additions to income producing properties	(1,853		)	(4,266		)	(3,738		)	(9,857		)
Additions to construction in progress	(4,432		)	(4,280		)	(1,202		)	(9,914		)
Acquisition of land held for development	(1,337		)	—			—			(1,337		)
Proceeds from sale of real estate and rental properties	1,861			1,447			1,009			4,317
Increase in deferred leasing costs and lease intangibles	(1,667		)	(2,082		)	(1,012		)	(4,761		)
Investment in joint ventures	—			—			(13,927		)	(13,927		)
Investment in consolidated subsidiary	(13,437		)	—			—			(13,437		)
Advances to joint ventures	—			—			(33,417		)	(33,417		)
Distributions from joint ventures	—			—			345			345
Proceeds from sale of securities	841			—			—			841
Advances to subsidiaries, net	16,488			34,939			(51,427		)	—
Net cash used in investing activities	(3,536		)	(41,962		)	(143,745		)	(189,243		)
FINANCING ACTIVITIES:
Repayment of mortgage notes payable	(12,825		)	(50,222		)	(11,710		)	(74,757		)
Proceeds from issuance of common stock	270,698			—			—			270,698
Payment of deferred financing costs	(569		)	(254		)	(144		)	(967		)
Stock issuance costs	(3,319		)	—			—			(3,319		)
Dividends paid to stockholders	(83,611		)	—			—			(83,611		)
Net cash provided by (used in) financing activities	170,374			(50,476		)	(11,854		)	108,044
Net decrease in cash and cash equivalents	(9,637		)	—			—			(9,637		)
Cash and cash equivalents at beginning of the year	47,970			—			—			47,970
Cash and cash equivalents at end of the year	$	38,333		$	—		$	—		$	38,333

Quarterly Financial Data (unaudited)

	First    Quarter (1)		Second    Quarter (1)		Third     Quarter (1)		Fourth        Quarter (1)(2)
2012	(in thousands, except per share data)
Total revenue	$	78,952	$	80,048	$	81,485	$	85,126
Income (loss) from continuing operations	$	8,374	$	5,301	$	11,825	$	(32,255	)
Net income (loss)	$	21,695	$	5,021	$	10,801	$	(30,292	)
Net income (loss) available to common shareholders	$	18,982	$	2,268	$	8,065	$	(32,792	)
Basic per share data
Income (loss) from continuing operations	$	0.05	$	0.02	$	0.08	$	(0.30	)
Net income (loss)	$	0.16	$	0.02	$	0.07	$	(0.28	)
Diluted per share data
Income (loss) from continuing operations	$	0.05	$	0.02	$	0.08	$	(0.30	)
Net income (loss)	$	0.16	$	0.02	$	0.07	$	(0.28	)

^{_______________________________________________} 

⁽¹⁾  Reclassified to reflect the reporting of discontinued operations. Note that the sum of the individual quarters per share data may not foot to the year-to-date totals due to the rounding of the individual calculations.

⁽²⁾  During the fourth quarter of 2012, we recognized a loss on early extinguishment of debt of $30.2 million (including $1.1 million in discontinued operations), primarily comprised of a make-whole premium and deferred fees and costs of $29.6 million associated with the redemption of all of our $250 million6.25% unsecured senior notes, which were scheduled to mature on December 15, 2014. Additionally, during the fourth quarter of 2012, we recognized impairment losses of $18.8 million in continuing operations and $798,000 in discontinued operations. See Note 7 for further discussion of impairments.

	First Quarter (1)(2)		Second     Quarter (1)		Third         Quarter (1)(3)			Fourth      Quarter (1)
2011
Total revenue	$	68,220	$	70,681	$	68,350		$	72,957
Income (loss) from continuing operations	$	32,320	$	5,354	$	(8,216	)	$	(2,559	)
Net income (loss)	$	37,377	$	9,121	$	(2,209	)	$	(1,071	)
Net income (loss) available to common stockholders	$	34,994	$	6,986	$	(4,657	)	$	(3,702	)
Basic per share data
Income (loss) from continuing operations	$	0.28	$	0.03	$	(0.10	)	$	(0.05	)
Net income (loss)	$	0.33	$	0.06	$	(0.04	)	$	(0.04	)
Diluted per share data
Income from continuing operations	$	0.27	$	0.03	$	(0.10	)	$	(0.05	)
Net income (loss)	$	0.32	$	0.06	$	(0.04	)	$	(0.04	)

^{_______________________________________________} 

⁽¹⁾  Reclassified to reflect the reporting of discontinued operations. Note that the sum of the individual quarters per share data may not foot to the year-to-date totals due to the rounding of the individual calculations.

⁽²⁾  During the first quarter of 2011, we recognized a gain on bargain purchase of $30.6 million related to our CapCo acquisition.

⁽³⁾  During the fourth quarter of 2011, we identified and corrected an immaterial error related to the allocation of earnings between continuing and discontinued operations. Net loss from continuing operations for the third quarter was understated by $1.6 million, or $0.02 per basic and diluted share, and net income from discontinued operations was understated by $1.6 million, or $0.01 per basic and diluted share. Net loss per basic and diluted share were not affected. No other quarters were impacted by the reclassification of earnings between continuing and discontinued operations.

XML

Real Estate Investments And Accumulated Depreciation (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at beginning of year	$ 3,086,320	$ 2,686,610	$ 2,486,235
Improvements	24,022	559,536	23,945
Acquisitions	273,185	944,598	196,756
Cost of real estate sold/written off	(41,429)	(1,104,424)	(20,326)
Balance at end of year	3,342,098	3,086,320	2,686,610
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at beginning of year	(277,197)	(228,956)	(193,392)
Depreciation expense	(66,758)	(67,876)	(50,995)
Cost of real estate sold/written off	8,093	19,635	15,431
Balance at end of year	(335,862)	(277,197)	(228,956)
Real Estate and Accumulated Depreciation, Other Required Disclosures [Abstract]
Aggregate cost for federal income tax purposes	$ 2,249,859	$ 2,099,729	$ 1,936,534
Buildings [Member] | Minimum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Real Estate and Accumulated Depreciation, Life Used for Depreciation	30 years
Buildings [Member] | Maximum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Real Estate and Accumulated Depreciation, Life Used for Depreciation	55 years
Building Improvements and Land Improvements [Member] | Minimum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Real Estate and Accumulated Depreciation, Life Used for Depreciation	2 years
Building Improvements and Land Improvements [Member] | Maximum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Real Estate and Accumulated Depreciation, Life Used for Depreciation	40 years
Furniture and Equipment [Member] | Minimum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Real Estate and Accumulated Depreciation, Life Used for Depreciation	5 years
Furniture and Equipment [Member] | Maximum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Real Estate and Accumulated Depreciation, Life Used for Depreciation	7 years

XML

Organization and Basis of Presentation (Details)	12 Months Ended
	Dec. 31, 2012 sqft property	Jan. 04, 2011 sqft property
Real Estate Properties [Line Items]
Initial Public Offering Completion Date	May 1998
Number of properties	168	13
Square feet of gross leasable area	16,900,000	2,600,000
Percentage of core portfolio	92.10%
Joint Venture [Member]
Real Estate Properties [Line Items]
Square feet of gross leasable area	3,300,000
Shopping Centers [Member]
Real Estate Properties [Line Items]
Number of properties	144
Shopping Centers [Member] | Joint Venture [Member]
Real Estate Properties [Line Items]
Number of properties	18
Development Properties [Member]
Real Estate Properties [Line Items]
Number of properties	11
Square feet of gross leasable area	2,200,000
Non-Retail Properties [Member]
Real Estate Properties [Line Items]
Number of properties	6
Land Parcels [Member]
Real Estate Properties [Line Items]
Number of properties	7
Office Buildings [Member] | Joint Venture [Member]
Real Estate Properties [Line Items]
Number of properties	2

XML

Other Assets

12 Months Ended

Dec. 31, 2012

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Other Assets

Other Assets

The following is a summary of the composition of the other assets in the consolidated balance sheets:

	December 31,
	2012		2011
	(In thousands)
Lease intangible assets, net	$	130,681	$	92,533
Leasing commissions, net	36,443		28,260
Prepaid expenses and other receivables	24,393		2,176
Straight-line rent receivable, net	20,937		17,101
Deferred financing costs, net	10,777		8,653
Deposits and mortgage escrow	5,231		34,554
Deferred tax asset	2,968		3,229
Furniture and fixtures, net	2,519		2,234
Total other assets	$	233,949	$	188,740

In connection with our development of The Gallery at Westbury Plaza in Nassau County, New York, we remediated various environmental matters that existed when we acquired the property in November 2009. The site was eligible for participation in New York State's Brownfield Cleanup Program, which provides for refundable New York State franchise tax credits for costs incurred to remediate and develop a qualified site. We applied for participation in the program and subsequently received a certificate of completion from the New York State Department of Environmental Conservation in August 2012. The certificate of completion confirmed our adherence to the cleanup requirements and ability to seek reimbursement for a portion of qualified costs incurred as part of the environmental remediation and development of the property. Accordingly, we have recognized a $21.0 million receivable for the reimbursable costs that will be paid to us subject to statutory deferrals over the next four years, which is included in prepaid expenses and other receivables on our consolidated balance sheet at December 31, 2012 with a corresponding reduction to the cost of the project included in construction in progress.

The following is a summary of the composition of our intangible assets and accumulated amortization in the consolidated balance sheets:

	December 31,
	2012		2011
	(In thousands)
Lease intangible assets:
Above-market leases	$	25,331	$	19,592
In-place lease interests	124,356		107,696
Ground lease (1)	34,094		—
Lease origination costs	4,008		4,185
Lease incentives	5,050		4,333
Total intangibles	192,839		135,806
Accumulated amortization:
Above-market leases	9,476		6,429
In-place lease interests	48,258		33,295
Ground lease (1)	191		—
Lease origination costs	2,646		2,486
Lease incentives	1,587		1,063
Total accumulated amortization	62,158		43,273
Lease intangible assets, net	$	130,681	$	92,533

^{___________________________________________} 

⁽¹⁾ Ground lease primarily related to the Darinor Plaza acquisition in 2012. Ground lease expires in 2076.

Included in the consolidated statement of operations for the years ended December 31, 2012, 2011 and 2010 is $10.8 million, $20.6 million and $10.0 million, respectively, of net amortization expense related to lease intangible assets and lease intangible liabilities. The amortization for the next five years for the recorded intangible assets is approximately $18.6 million, $14.6 million, $11.8 million, $9.1 million and $7.2 million, respectively.

XML

Quarterly Financial Data

12 Months Ended

Dec. 31, 2012

Quarterly Financial Data [Abstract]

Quarterly Financial Data

Condensed Consolidating Financial Information

Many of our subsidiaries have guaranteed our indebtedness under the unsecured senior notes and the revolving credit facilities. The guarantees are joint and several and full and unconditional. The following statements set forth consolidating financial information with respect to guarantors of our unsecured senior notes:

Condensed Consolidating Balance Sheet As of December 31, 2012	Equity One, Inc.			Combined Guarantor Subsidiaries			Non- Guarantor Subsidiaries		Eliminating Entries			Consolidated
	(In thousands)
ASSETS
Properties, net	$	264,506		$	1,338,620		$	1,403,243	$	(133	)	$	3,006,236
Investment in affiliates	1,228,310			—			—		(1,228,310		)	—
Other assets	354,460			79,369			855,396		(792,793		)	496,432
Total Assets	$	1,847,276		$	1,417,989		$	2,258,639	$	(2,021,236	)	$	3,502,668
LIABILITIES
Mortgage notes payable	$	—		$	57,979		$	381,177	$	—		$	439,156
Unsecured senior notes payable	731,136			—			—		—			731,136
Other notes payable	600,000			93,600			67,000		(760,600		)	—
Term loan	250,000			—			—		—			250,000
Unsecured revolving credit facilities	172,000			—			—		—			172,000
Unamortized/unaccreted (discount) premium on notes payable	(2,006		)	(151		)	9,215		—			7,058
Other liabilities	18,646			112,510			163,056		(21,249		)	272,963
Liabilities associated with properties held    for sale	3,057			268			—		—			3,325
Total Liabilities	1,772,833			264,206			620,448		(781,849		)	1,875,638
REDEEMABLE NONCONTROLLING    INTERESTS	—			—			—		22,551			22,551
EQUITY	74,443			1,153,783			1,638,191		(1,261,938		)	1,604,479
TOTAL LIABILITIES, REDEEMABLE    NONCONTROLLING INTERESTS    AND EQUITY	$	1,847,276		$	1,417,989		$	2,258,639	$	(2,021,236	)	$	3,502,668

Condensed Consolidating Balance Sheet As of December 31, 2011	Equity One, Inc.			Combined Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminating Entries			Consolidated
	(In thousands)
ASSETS
Properties, net	$	269,728		$	1,297,302	$	1,242,139	$	(46	)	$	2,809,123
Investment in affiliates	1,228,310			—		—		(1,228,310		)	—
Other assets	344,587			52,200		855,502		(838,841		)	413,448
Total Assets	$	1,842,625		$	1,349,502	$	2,097,641	$	(2,067,197	)	$	3,222,571
LIABILITIES
Mortgage notes payable	$	17,525		$	39,327	$	402,825	$	—		$	459,677
Unsecured senior notes payable	691,136			—		—		—			691,136
Other notes payable	600,000			93,600		67,000		(760,600		)	—
Unsecured revolving credit facilities	138,000			—		—		—			138,000
Unamortized/unaccreted (discount) premium on notes payable	(2,718		)	296		10,318		—			7,896
Other liabilities	20,362			102,146		145,883		(30,820		)	237,571
Liabilities associated with properties held    for sale	11,400			1,298		27,587		—			40,285
Total Liabilities	1,475,705			236,667		653,613		(791,420		)	1,574,565
REDEEMABLE NONCONTROLLING    INTERESTS	—			—		—		22,804			22,804
EQUITY	366,920			1,112,835		1,444,028		(1,298,581		)	1,625,202
TOTAL LIABILITIES, REDEEMABLE    NONCONTROLLING INTERESTS AND    EQUITY	$	1,842,625		$	1,349,502	$	2,097,641	$	(2,067,197	)	$	3,222,571

Condensed Consolidating Statement of Comprehensive (Loss) Income for the year ended December 31, 2012	Equity One Inc.			Combined Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminating Entries			Consolidated
	(In thousands)
Total revenue	$	33,189		$	156,774		$	136,036		$	(388	)	$	325,611
Equity in subsidiaries' earnings	115,148			—			—			(115,148		)	—
Total costs and expenses	48,931			83,820			83,997			(623		)	216,125
INCOME BEFORE OTHER INCOME AND EXPENSE, TAX AND DISCONTINUED OPERATIONS	99,406			72,954			52,039			(114,913		)	109,486
Other income and expenses	(103,061		)	(19,219		)	4,402			(866		)	(118,744		)
(LOSS) INCOME FROM CONTINUING    OPERATIONS BEFORE TAX AND    DISCONTINUED OPERATIONS	(3,655		)	53,735			56,441			(115,779		)	(9,258		)
Income tax (expense) benefit of taxable REIT    subsidiaries	—			(262		)	2,765			—			2,503
(LOSS) INCOME FROM CONTINUING    OPERATIONS	(3,655		)	53,473			59,206			(115,779		)	(6,755		)
Income (loss) from discontinued operations	636			(1,226		)	14,188			382			13,980
NET (LOSS) INCOME	(3,019		)	52,247			73,394			(115,397		)	7,225
Other comprehensive (loss) income	(6,889		)	—			458			—			(6,431		)
COMPREHENSIVE (LOSS) INCOME	(9,908		)	52,247			73,852			(115,397		)	794
Comprehensive income attributable to noncontrolling interests	—			—			(10,702		)	—			(10,702		)
COMPREHENSIVE (LOSS) INCOME     ATTRIBUTABLE TO EQUITY ONE, INC.	$	(9,908	)	$	52,247		$	63,150		$	(115,397	)	$	(9,908	)

Condensed Consolidating Statement of Comprehensive Income for the year ended December 31, 2011	Equity One Inc.			Combined Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminating Entries			Consolidated
	(In thousands)
Total revenue	$	32,901		$	149,164		$	98,143		$	—		$	280,208
Equity in subsidiaries' earnings	138,930			—			—			(138,930		)	—
Total costs and expenses	51,728			85,259			72,411			2,150			211,548
INCOME BEFORE OTHER INCOME AND EXPENSE, TAX AND DISCONTINUED OPERATIONS	120,103			63,905			25,732			(141,080		)	68,660
Other income and expenses	(94,795		)	(25,032		)	77,086			(4,084		)	(46,825		)
INCOME FROM CONTINUING    OPERATIONS BEFORE TAX AND    DISCONTINUED OPERATIONS	25,308			38,873			102,818			(145,164		)	21,835
Income tax benefit of taxable REIT subsidiaries	—			2,723			2,341			—			5,064
INCOME FROM CONTINUING    OPERATIONS	25,308			41,596			105,159			(145,164		)	26,899
Income (loss) from discontinued operations	8,664			43,005			(93,479		)	58,129			16,319
NET INCOME	33,972			84,601			11,680			(87,035		)	43,218
Other comprehensive income	64			—			351			—			415
COMPREHENSIVE INCOME	34,036			84,601			12,031			(87,035		)	43,633
Comprehensive income attributable to noncontrolling interests	—			—			(9,597		)	—			(9,597		)
COMPREHENSIVE INCOME     ATTRIBUTABLE TO EQUITY ONE, INC.	$	34,036		$	84,601		$	2,434		$	(87,035	)	$	34,036

Condensed Consolidating Statement of Comprehensive Income for the year ended December 31, 2010	Equity One Inc.			Combined Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminating Entries			Consolidated
	(In thousands)
Total revenue	$	33,618		$	146,048		$	38,445		$	(102	)	$	218,009
Equity in subsidiaries' earnings	71,387			—			—			(71,387		)	—
Total costs and expenses	49,472			75,360			23,588			1,827			150,247
INCOME BEFORE OTHER INCOME AND EXPENSE, TAX AND DISCONTINUED OPERATIONS	55,533			70,688			14,857			(73,316		)	67,762
Other income and expenses	(33,700		)	(13,466		)	(11,684		)	(4,490		)	(63,340		)
INCOME FROM CONTINUING    OPERATIONS BEFORE TAX AND    DISCONTINUED OPERATIONS	21,833			57,222			3,173			(77,806		)	4,422
Income tax (expense) benefit of taxable REIT    subsidiaries	(199		)	752			1,171			—			1,724
INCOME FROM CONTINUING    OPERATIONS	21,634			57,974			4,344			(77,806		)	6,146
Income (loss) from discontinued operations	2,457			10,854			(1,475		)	6,437			18,273
NET INCOME	24,091			68,828			2,869			(71,369		)	24,419
Other comprehensive loss	(282		)	—			(1,021		)	—			(1,303		)
COMPREHENSIVE INCOME	23,809			68,828			1,848			(71,369		)	23,116
Comprehensive loss attributable to    noncontrolling interests	—			—			693			—			693
COMPREHENSIVE INCOME     ATTRIBUTABLE TO EQUITY ONE, INC.	$	23,809		$	68,828		$	2,541		$	(71,369	)	$	23,809

Condensed Consolidating Statement of Cash Flows for the year ended December 31, 2012	Equity One, Inc.			Combined Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidated
	(In thousands)
Net cash (used in) provided by operating activities	$	(121,293	)	$	108,376		$	166,136		$	153,219
INVESTING ACTIVITIES:
Acquisition of income producing properties	—			(73,235		)	(170,314		)	(243,549		)
Additions to income producing properties	(4,853		)	(12,324		)	(2,998		)	(20,175		)
Acquisition of land held for development	—			(9,505		)	—			(9,505		)
Additions to construction in progress	(682		)	(63,683		)	(778		)	(65,143		)
Proceeds from sale of real estate and rental properties	1,417			15,342			25,235			41,994
Decrease in cash held in escrow	90,846			—			746			91,592
Increase in deferred leasing costs and lease intangibles	(1,739		)	(3,344		)	(2,086		)	(7,169		)
Investment in joint ventures	—			—			(26,392		)	(26,392		)
Repayments of advances to joint ventures	—			—			517			517
Distributions from joint ventures	—			—			567			567
Investment in loans receivable	(114,258		)	—			—			(114,258		)
Repayment of loans receivable	19,258			—			—			19,258
Advances to subsidiaries, net	(107,328		)	56,135			51,193			—
Net cash used in investing activities	(117,339		)	(90,614		)	(124,310		)	(332,263		)
FINANCING ACTIVITIES:
Repayments of mortgage notes payable	(6,585		)	(17,762		)	(41,826		)	(66,173		)
Net borrowings under revolving credit facilities	34,000			—			—			34,000
Proceeds from senior debt borrowings	296,823			—			—			296,823
Repayment of senior debt borrowings	(287,840		)	—			—			(287,840		)
Proceeds from issuance of common stock	85,838			—			—			85,838
Borrowings under term loan	250,000			—			—			250,000
Payment of deferred financing costs	(3,251		)	—			—			(3,251		)
Stock issuance costs	(883		)	—			—			(883		)
Dividends paid to stockholders	(102,078		)	—			—			(102,078		)
Distributions to noncontrolling interests	(9,995		)	—			—			(9,995		)
Distributions to redeemable noncontrolling interests	(944		)	—			—			(944		)
Net cash provided by (used in) financing activities	255,085			(17,762		)	(41,826		)	195,497
Net increase in cash and cash equivalents	16,453			—			—			16,453
Cash and cash equivalents at beginning of the year	10,963			—			—			10,963
Cash and cash equivalents at end of the year	$	27,416		$	—		$	—		$	27,416

Condensed Consolidating Statement of Cash Flows for the year ended December 31, 2011	Equity One, Inc.			Combined Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidated
	(In thousands)
Net cash provided by (used in) operating activities	$	98,588		$	27,461		$	(23,423	)	$	102,626
INVESTING ACTIVITIES:
Acquisition of income producing properties	(55,000		)	(55,500		)	(168,580		)	(279,080		)
Additions to income producing properties	(2,296		)	(11,377		)	(2,723		)	(16,396		)
Additions to construction in progress	(2,339		)	(40,376		)	(382		)	(43,097		)
Proceeds from sale of real estate and rental properties	3,206			11,705			384,485			399,396
Increase in cash held in escrow	(91,591		)	—			—			(91,591		)
Investment in loans receivable	(45,100		)	—			—			(45,100		)
Increase in deferred leasing costs and lease intangibles	(1,416		)	(4,142		)	(1,596		)	(7,154		)
Investment in joint ventures	—			—			(15,024		)	(15,024		)
Repayments of advances to joint ventures	—			—			34,887			34,887
Distributions from joint ventures	—			—			18,786			18,786
Investment in consolidated subsidiary	—			—			(242		)	(242		)
Advances to subsidiaries, net	(67,836		)	161,910			(94,074		)	—
Net cash (used in) provided by investing activities	(262,372		)	62,220			155,537			(44,615		)
FINANCING ACTIVITIES:
Repayments of mortgage notes payable	(1,808		)	(89,681		)	(155,375		)	(246,864		)
Net borrowings under revolving credit facilities	138,000			—			—			138,000
Proceeds from issuance of common stock	116,542			—			—			116,542
Payment of deferred financing costs	(4,888		)	—			(151		)	(5,039		)
Stock issuance costs	(1,185		)	—			—			(1,185		)
Dividends paid to stockholders	(98,842		)	—			—			(98,842		)
Distributions to redeemable noncontrolling interests	(11,405		)	—			—			(11,405		)
Net cash provided by (used in) financing activities	136,414			(89,681		)	(155,526		)	(108,793		)
Net decrease in cash and cash equivalents	(27,370		)	—			(23,412		)	(50,782		)
Cash and cash equivalents obtained through acquisition	—			—			23,412			23,412
Cash and cash equivalents at beginning of the year	38,333			—			—			38,333
Cash and cash equivalents at end of the year	$	10,963		$	—		$	—		$	10,963

Condensed Consolidating Statement of Cash Flows for the year ended December 31, 2010	Equity One, Inc.			Combined Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidated
Net cash (used in) provided by operating activities	$	(176,475	)	$	92,438		$	155,599		$	71,562
INVESTING ACTIVITIES:
Acquisition of income producing properties	—			(67,720		)	(40,376		)	(108,096		)
Additions to income producing properties	(1,853		)	(4,266		)	(3,738		)	(9,857		)
Additions to construction in progress	(4,432		)	(4,280		)	(1,202		)	(9,914		)
Acquisition of land held for development	(1,337		)	—			—			(1,337		)
Proceeds from sale of real estate and rental properties	1,861			1,447			1,009			4,317
Increase in deferred leasing costs and lease intangibles	(1,667		)	(2,082		)	(1,012		)	(4,761		)
Investment in joint ventures	—			—			(13,927		)	(13,927		)
Investment in consolidated subsidiary	(13,437		)	—			—			(13,437		)
Advances to joint ventures	—			—			(33,417		)	(33,417		)
Distributions from joint ventures	—			—			345			345
Proceeds from sale of securities	841			—			—			841
Advances to subsidiaries, net	16,488			34,939			(51,427		)	—
Net cash used in investing activities	(3,536		)	(41,962		)	(143,745		)	(189,243		)
FINANCING ACTIVITIES:
Repayment of mortgage notes payable	(12,825		)	(50,222		)	(11,710		)	(74,757		)
Proceeds from issuance of common stock	270,698			—			—			270,698
Payment of deferred financing costs	(569		)	(254		)	(144		)	(967		)
Stock issuance costs	(3,319		)	—			—			(3,319		)
Dividends paid to stockholders	(83,611		)	—			—			(83,611		)
Net cash provided by (used in) financing activities	170,374			(50,476		)	(11,854		)	108,044
Net decrease in cash and cash equivalents	(9,637		)	—			—			(9,637		)
Cash and cash equivalents at beginning of the year	47,970			—			—			47,970
Cash and cash equivalents at end of the year	$	38,333		$	—		$	—		$	38,333

Quarterly Financial Data (unaudited)

	First    Quarter (1)		Second    Quarter (1)		Third     Quarter (1)		Fourth        Quarter (1)(2)
2012	(in thousands, except per share data)
Total revenue	$	78,952	$	80,048	$	81,485	$	85,126
Income (loss) from continuing operations	$	8,374	$	5,301	$	11,825	$	(32,255	)
Net income (loss)	$	21,695	$	5,021	$	10,801	$	(30,292	)
Net income (loss) available to common shareholders	$	18,982	$	2,268	$	8,065	$	(32,792	)
Basic per share data
Income (loss) from continuing operations	$	0.05	$	0.02	$	0.08	$	(0.30	)
Net income (loss)	$	0.16	$	0.02	$	0.07	$	(0.28	)
Diluted per share data
Income (loss) from continuing operations	$	0.05	$	0.02	$	0.08	$	(0.30	)
Net income (loss)	$	0.16	$	0.02	$	0.07	$	(0.28	)

^{_______________________________________________} 

⁽¹⁾  Reclassified to reflect the reporting of discontinued operations. Note that the sum of the individual quarters per share data may not foot to the year-to-date totals due to the rounding of the individual calculations.

⁽²⁾  During the fourth quarter of 2012, we recognized a loss on early extinguishment of debt of $30.2 million (including $1.1 million in discontinued operations), primarily comprised of a make-whole premium and deferred fees and costs of $29.6 million associated with the redemption of all of our $250 million6.25% unsecured senior notes, which were scheduled to mature on December 15, 2014. Additionally, during the fourth quarter of 2012, we recognized impairment losses of $18.8 million in continuing operations and $798,000 in discontinued operations. See Note 7 for further discussion of impairments.

	First Quarter (1)(2)		Second     Quarter (1)		Third         Quarter (1)(3)			Fourth      Quarter (1)
2011
Total revenue	$	68,220	$	70,681	$	68,350		$	72,957
Income (loss) from continuing operations	$	32,320	$	5,354	$	(8,216	)	$	(2,559	)
Net income (loss)	$	37,377	$	9,121	$	(2,209	)	$	(1,071	)
Net income (loss) available to common stockholders	$	34,994	$	6,986	$	(4,657	)	$	(3,702	)
Basic per share data
Income (loss) from continuing operations	$	0.28	$	0.03	$	(0.10	)	$	(0.05	)
Net income (loss)	$	0.33	$	0.06	$	(0.04	)	$	(0.04	)
Diluted per share data
Income from continuing operations	$	0.27	$	0.03	$	(0.10	)	$	(0.05	)
Net income (loss)	$	0.32	$	0.06	$	(0.04	)	$	(0.04	)

^{_______________________________________________} 

⁽¹⁾  Reclassified to reflect the reporting of discontinued operations. Note that the sum of the individual quarters per share data may not foot to the year-to-date totals due to the rounding of the individual calculations.

⁽²⁾  During the first quarter of 2011, we recognized a gain on bargain purchase of $30.6 million related to our CapCo acquisition.

⁽³⁾  During the fourth quarter of 2011, we identified and corrected an immaterial error related to the allocation of earnings between continuing and discontinued operations. Net loss from continuing operations for the third quarter was understated by $1.6 million, or $0.02 per basic and diluted share, and net income from discontinued operations was understated by $1.6 million, or $0.01 per basic and diluted share. Net loss per basic and diluted share were not affected. No other quarters were impacted by the reclassification of earnings between continuing and discontinued operations.

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Income Taxes (Statutory Federal Income Tax Rate To Taxable Income Before Income Taxes) (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2012		Dec. 31, 2011		Dec. 31, 2010
Income Tax Contingency [Line Items]
Federal benefit (provision) at statutory tax rate	$ 2,616	[1]	$ 34,205	[1]	$ 4,040	[1]
State taxes, net of federal benefit	272		3,187		406
Adjustment to DIM gain	0		(3,315)
Foreign tax rate differential	(7)		(2)		(48)
Other	(370)		574		(622)
Valuation allowance (increase) decrease	(8)		(10)		(11)
Total tax benefit	$ 2,503		$ 34,639		$ 3,765
Maximum [Member]
Income Tax Contingency [Line Items]
Projected taxable income	35.00%
Minimum [Member]
Income Tax Contingency [Line Items]
Projected taxable income	34.00%

[1] Rate of 34% or 35% used, dependent on the projected taxable income levels of our TRSs.

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Condensed Consolidating Financial Information (Schedule of Condensed Consolidating Balance Sheets) (Details) (USD $)	Dec. 31, 2012		Dec. 31, 2011		Dec. 31, 2010	Dec. 31, 2009
ASSETS
Properties, net	$ 3,006,236,000		$ 2,809,123,000
Investment in affiliates
Other assets	496,432,000		413,448,000
TOTAL ASSETS (including $111,100 and $109,200 of consolidated variable interest entities at December 31, 2012 and 2011, respectively)	3,502,668,000	[1]	3,222,571,000	[1]
LIABILITIES
Mortgage notes payable	439,156,000		459,677,000
Unsecured senior notes payable	731,136,000		691,136,000
Other Notes Payable
Term loan	250,000,000
Unsecured revolving credit facilities	172,000,000		138,000,000
Unamortized/unaccreted (discount) premium on notes payable	7,058,000		7,896,000
Other liabilities	272,963,000		237,571,000
Liabilities associated with assets held for sale	3,325,000		40,285,000
Total liabilities (including $63,000 and $61,900 of consolidated variable interest entities at December 31, 2012 and 2011, respectively)	1,875,638,000	[1]	1,574,565,000	[1]
Redeemable noncontrolling interests	22,551,000		22,804,000
EQUITY	1,604,479,000		1,625,202,000		1,289,841,000	1,087,713,000
TOTAL LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY	3,502,668,000		3,222,571,000
Equity One, Inc. [Member]
ASSETS
Properties, net	264,506,000		269,728,000
Investment in affiliates	1,228,310,000		1,228,310,000
Other assets	354,460,000		344,587,000
TOTAL ASSETS (including $111,100 and $109,200 of consolidated variable interest entities at December 31, 2012 and 2011, respectively)	1,847,276,000		1,842,625,000
LIABILITIES
Mortgage notes payable			17,525,000
Unsecured senior notes payable	731,136,000		691,136,000
Other Notes Payable	600,000,000		600,000,000
Term loan	250,000,000
Unsecured revolving credit facilities	172,000,000		138,000,000
Unamortized/unaccreted (discount) premium on notes payable	(2,006,000)		(2,718,000)
Other liabilities	18,646,000		20,362,000
Liabilities associated with assets held for sale	3,057,000		11,400,000
Total liabilities (including $63,000 and $61,900 of consolidated variable interest entities at December 31, 2012 and 2011, respectively)	1,772,833,000		1,475,705,000
Redeemable noncontrolling interests
EQUITY	74,443,000		366,920,000
TOTAL LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY	1,847,276,000		1,842,625,000
Combined Guarantor Subsidiaries [Member]
ASSETS
Properties, net	1,338,620,000		1,297,302,000
Investment in affiliates
Other assets	79,369,000		52,200,000
TOTAL ASSETS (including $111,100 and $109,200 of consolidated variable interest entities at December 31, 2012 and 2011, respectively)	1,417,989,000		1,349,502,000
LIABILITIES
Mortgage notes payable	57,979,000		39,327,000
Unsecured senior notes payable
Other Notes Payable	93,600,000		93,600,000
Term loan
Unsecured revolving credit facilities
Unamortized/unaccreted (discount) premium on notes payable	(151,000)		296,000
Other liabilities	112,510,000		102,146,000
Liabilities associated with assets held for sale	268,000		1,298,000
Total liabilities (including $63,000 and $61,900 of consolidated variable interest entities at December 31, 2012 and 2011, respectively)	264,206,000		236,667,000
Redeemable noncontrolling interests
EQUITY	1,153,783,000		1,112,835,000
TOTAL LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY	1,417,989,000		1,349,502,000
Non-Guarantor Subsidiaries [Member]
ASSETS
Properties, net	1,403,243,000		1,242,139,000
Investment in affiliates
Other assets	855,396,000		855,502,000
TOTAL ASSETS (including $111,100 and $109,200 of consolidated variable interest entities at December 31, 2012 and 2011, respectively)	2,258,639,000		2,097,641,000
LIABILITIES
Mortgage notes payable	381,177,000		402,825,000
Unsecured senior notes payable
Other Notes Payable	67,000,000		67,000,000
Term loan
Unsecured revolving credit facilities
Unamortized/unaccreted (discount) premium on notes payable	9,215,000		10,318,000
Other liabilities	163,056,000		145,883,000
Liabilities associated with assets held for sale			27,587,000
Total liabilities (including $63,000 and $61,900 of consolidated variable interest entities at December 31, 2012 and 2011, respectively)	620,448,000		653,613,000
Redeemable noncontrolling interests
EQUITY	1,638,191,000		1,444,028,000
TOTAL LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY	2,258,639,000		2,097,641,000
Eliminating Entries [Member]
ASSETS
Properties, net	(133,000)		(46,000)
Investment in affiliates	(1,228,310,000)		(1,228,310,000)
Other assets	(792,793,000)		(838,841,000)
TOTAL ASSETS (including $111,100 and $109,200 of consolidated variable interest entities at December 31, 2012 and 2011, respectively)	(2,021,236,000)		(2,067,197,000)
LIABILITIES
Mortgage notes payable
Unsecured senior notes payable
Other Notes Payable	(760,600,000)		(760,600,000)
Term loan
Unsecured revolving credit facilities
Unamortized/unaccreted (discount) premium on notes payable
Other liabilities	(21,249,000)		(30,820,000)
Liabilities associated with assets held for sale
Total liabilities (including $63,000 and $61,900 of consolidated variable interest entities at December 31, 2012 and 2011, respectively)	(781,849,000)		(791,420,000)
Redeemable noncontrolling interests	22,551,000		22,804,000
EQUITY	(1,261,938,000)		(1,298,581,000)
TOTAL LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY	$ (2,021,236,000)		$ (2,067,197,000)

[1] The assets of these entities can only be used to settle obligations of the variable interest entities and the liabilities include third party liabilities of the variable interest entities for which the creditors or beneficial interest holders do not have recourse against us other than for customary environmental indemnifications and non-recourse carve-outs.

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Other Liabilities

12 Months Ended

Dec. 31, 2012

Other Liabilities Disclosure [Abstract]

Other Liabilities

Other Liabilities

The following is a summary of the composition of other liabilities in the consolidated balance sheets:

	December 31,
	2012		2011
	(in thousands)
Lease intangible liabilities, net	$	185,494	$	156,495
Prepaid rent	10,949		6,834
Other	215		811
Total other liabilities	$	196,658	$	164,140

At December 31, 2012 and 2011, the gross carrying amount of our lease intangible liabilities was $232.5 million and $187.5 million, respectively, and the accumulated amortization was $47.0 million and $31.0 million, respectively. Our intangible liabilities are solely composed of below-market rent adjustments. The accretion for the next five years for the recorded intangible liabilities is approximately, $16.4 million, $15.2 million, $13.9 million, $11.2 million and $9.9 million, respectively.

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Properties (Summary Of The Composition Of Income Producing Properties) (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2012	Dec. 31, 2011
Property, Plant and Equipment [Line Items]
Land and land improvements	$ 1,362,343	$ 1,211,691
Building and building improvements	1,688,791	1,520,772
Tenant Improvements	97,834	97,562
Income producing property, gross	3,148,968	2,830,025
Less: accumulated depreciation	(335,862)	(277,197)
Income producing properties, net	2,813,106	2,552,828
External Costs [Member] | Development And Redevelopment Activities [Member]
Property, Plant and Equipment [Line Items]
Capitalized cost	82,700	45,900
External Costs [Member] | Other Property Improvements [Member]
Property, Plant and Equipment [Line Items]
Capitalized cost	21,200	24,600
External Costs [Member] | Leasing Activities [Member]
Property, Plant and Equipment [Line Items]
Capitalized cost	2,500	4,000
Internal Costs [Member] | Development And Redevelopment Activities [Member]
Property, Plant and Equipment [Line Items]
Capitalized cost	1,100	544
Internal Costs [Member] | Other Property Improvements [Member]
Property, Plant and Equipment [Line Items]
Capitalized cost	100	173
Internal Costs [Member] | Leasing Activities [Member]
Property, Plant and Equipment [Line Items]
Capitalized cost	$ 3,800	$ 3,200

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Share-Based Payment Plans (Summary of Stock Option Activity) (Details) (USD $) In Thousands, except Per Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Weighted-average fair value of options granted during the year	$ 0.00	$ 3.67	$ 3.43
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Shares Under Option, Outstanding at the beginning of year	3,565	3,346	2,762
Shares Under Option, Granted	0	227	609
Shares Under Option, Exercised	(42)	(2)	0
Shares Under Option, Forfeited or expired	(2)	(6)	(25)
Shares Under Option, Outstanding at the end of period	3,521	3,565	3,346
Shares Under Option, Exercisable at the end of period	3,041	2,675	2,157
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward]
Weighted-Average Exercise Price, Outstanding at the beginning of year (in usd per share)	$ 20.62	$ 20.73	$ 21.28
Weighted-Average Exercise Price, Granted (in usd per share)	$ 0.00	$ 19.07	$ 18.56
Weighted-Average Exercise Price, Exercised (in usd per share)	$ 11.59	$ 18.88	$ 0.00
Weighted-Average Exercise Price, Forfeited or expired (in usd per share)	$ 18.88	$ 18.88	$ 28.05
Weighted-Average Exercise Price, Outstanding at the end of period (in usd per share)	$ 20.73	$ 20.62	$ 20.73
Weighted-Average Exercise Price, Exercisable at the end of period (in usd per share)	$ 21.15	$ 21.54	$ 22.62

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Consolidated Statement of Equity Consolidated Statement of Equity (Parentheticals) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011
Statement of Stockholders' Equity [Abstract]
Net income attributable to redeemable noncontrolling interest	$ 840	$ 143

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Consolidated Balance Sheets (Parenthetical) (USD $) In Thousands, except Share data, unless otherwise specified	Dec. 31, 2012		Dec. 31, 2011
Preferred stock, par value (in usd per share)	$ 0.01		$ 0.01
Preferred stock, shares authorized (in shares)	10,000,000		10,000,000
Preferred stock, shares issued (in shares)	0		0
Common stock, par value (in usd per share)	$ 0.01		$ 0.01
Common stock, shares authorized (in shares)	150,000,000		150,000,000
Common stock, shares issued (in shares)	116,938,000		112,599,000
Common stock, shares outstanding (in shares)	116,938,000		112,599,000
Total Assets, Variable Interest Entities	$ 111,100	[1]	$ 109,200	[1]
Total liabilities, Variable Interest Entities	$ 63,000	[1]	$ 61,900	[1]

[1] The assets of these entities can only be used to settle obligations of the variable interest entities and the liabilities include third party liabilities of the variable interest entities for which the creditors or beneficial interest holders do not have recourse against us other than for customary environmental indemnifications and non-recourse carve-outs.

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Accounts And Other Receivables

12 Months Ended

Dec. 31, 2012

Accounts Receivable, Net [Abstract]

Accounts And Other Receivables

Accounts and Other Receivables

The following table is a summary of the composition of accounts and other receivables in the consolidated balance sheets:

	December 31,
	2012			2011
	(In thousands)
Tenants	$	14,354		$	18,110
Other	3,148			4,945
Allowance for doubtful accounts	(3,182		)	(5,265		)
Total accounts and other receivables, net	$	14,320		$	17,790

For the years ended December 31, 2012, 2011 and 2010, we recognized bad debt expense of $1.1 million, $2.1 million and $1.6 million, respectively, which is included in property operating expenses in the accompanying consolidated statements of operations.

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Noncontrolling Interests (Summary of Noncontrolling Interests) (Details) (USD $) In Thousands, unless otherwise specified															12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2012 Danbury Green [Member]		Dec. 31, 2011 Danbury Green [Member]		Dec. 31, 2012 Southbury Green [Member]		Dec. 31, 2011 Southbury Green [Member]		Dec. 31, 2012 Vestar/EQY Canyon Trails LLC [Member]		Dec. 31, 2011 Vestar/EQY Canyon Trails LLC [Member]		Dec. 31, 2012 Walden Woods Village Ltd [Member]		Dec. 31, 2011 Walden Woods Village Ltd [Member]		Dec. 31, 2012 CapCo [Member]	Dec. 31, 2012 DIM [Member]	Dec. 31, 2011 DIM [Member]	Jan. 14, 2009 DIM [Member]	Dec. 31, 2012 Vestar/EQY Talega LLC [Member]		Dec. 31, 2011 Vestar/EQY Talega LLC [Member]		Dec. 31, 2012 Vestar/EQY Vernola LLC [Member]		Dec. 31, 2011 Vestar/EQY Vernola LLC [Member]
Redemption period															Jan. 01, 2014
Redeemable noncontrolling interests	$ 22,551	$ 22,804	$ 7,720	[1]	$ 7,720	[1]	$ 11,242	[2]	$ 11,242	[2]	$ 2,600	[3]	$ 2,853	[3]	$ 989	[4]	$ 989	[4]
Total noncontrolling interests included in stockholders' equity	$ 207,753	$ 207,886																	$ 206,145	$ 1,100	$ 1,132	$ 25,800	$ 147	[5]	$ 181	[5]	$ 361	[6]	$ 428	[6]

[1] This entity owns the Danbury Green Shopping Center.

[2] This entity owns the Southbury Green Shopping Center.

[3] This entity owns the Canyon Trails Shopping Center.

[4] We have entered into a redemption agreement whereby our joint venture partner can request that we purchase their interest at any time before January 1, 2014.

[5] Holds our interest in Talega Village Center JV, LLC.

[6] Holds our interest in Vernola Marketplace JV, LLC.

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Income Taxes (Narrative) (Details) (USD $)	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Tax Credit Carryforward [Line Items]
Percentage of distribution of REIT taxable income to stockholders	90.00%
Percentage of gross income derived from qualifying sources	95.00%
Income tax benefit from discontinued operations		$ 29,575,000	$ 2,041,000
Deferred Tax Assets, Net	9,048,000	11,480,000
Deferred tax asset	6,044,000	6,514,000
Deferred Tax Liabilities, Gross	12,016,000	14,709,000
Disallowed interest carry forwards with tax value	2,900,000
Valuation allowance	213,000	205,000
Federal net operating loss carry forwards	5,900,000
State net operating loss carry forwards	5,000,000
Net operating loss carry forward	3,216,000	3,473,000
Tax Credit Carryforward, Expiration Date	Dec. 31, 2027
Dim Vastgoed N V [Member]
Tax Credit Carryforward [Line Items]
Shares Acquired Through Open Market And Private Purchases, Ownership Interest	97.80%	97.80%
Southeast US Holdings [Member]
Tax Credit Carryforward [Line Items]
Valuation allowance	213,000
Net operating loss carry forward	834,000
DIM [Member]
Tax Credit Carryforward [Line Items]
Disallowed interest carry forwards	7,700,000
IRT [Member]
Tax Credit Carryforward [Line Items]
Expects to realize benefits from net deferred tax assets	3,000,000
Internal Revenue Service (IRS) [Member] | IRT [Member]
Tax Credit Carryforward [Line Items]
Operating Loss Carryforwards	1,300,000
State and Local Jurisdiction [Member] | IRT [Member]
Tax Credit Carryforward [Line Items]
Operating Loss Carryforwards	1,700,000
Other Assets [Member]
Tax Credit Carryforward [Line Items]
Deferred tax asset	$ 2,968,000	$ 3,229,000

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Other Liabilities (Narrative) (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2012	Dec. 31, 2011
Other Liabilities Disclosure [Abstract]
Lease intangible liabilities, gross	$ 232.5	$ 187.5
Accumulated amortization	(47.0)	(31.0)
Intangible liabilities, future accretion expense, year one	16.4
Intangible liabilities, future accretion expense, year two	15.2
Intangible liabilities, future accretion expense, year three	13.9
Intangible liabilities, future accretion expense, year four	11.2
Intangible liabilities, future accretion expense, year five	$ 9.9

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Fair Value Measurements Fair Value Measurements (Assets Measured and Recorded at Fair Value on a Nonrecurring Basis (Details) (Fair Value, Measurements, Nonrecurring [Member], USD $) In Thousands, unless otherwise specified	Dec. 31, 2012
Estimate of Fair Value, Fair Value Disclosure [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Operating properties held and used	$ 19,800	[1]
Operating properties held for sale	19,100	[1]
Development properties held and used	12,510	[1]
Total	51,410
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Operating properties held and used	19,800	[1]
Operating properties held for sale	3,760	[1]
Development properties held and used	12,510	[1]
Total	36,070
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Operating properties held and used	0	[1]
Operating properties held for sale	0	[1]
Development properties held and used	0	[1]
Total	0
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Operating properties held and used	0	[1]
Operating properties held for sale	15,340	[1]
Development properties held and used	0	[1]
Total	15,340
Change During Period, Fair Value Disclosure [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Operating properties held and used	21,507	[1]
Operating properties held for sale	6,669	[1]
Development properties held and used	740	[1]
Total	$ 28,916

[1] Represents real estate investments for which we have recorded an impairment loss during 2012.

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Mortgage Loans On Real Estate (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Mortgage Loans on Real Estate [Line Items]
Interest Rate	6.61%	6.33%
Face Amount of Mortgages	$ 140,000
Carrying Amount of Mortgages	140,708
Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance at beginning of year	45,279	0	0
New loans, including capitalized costs	114,518	45,114	0
Accrued interest	2,277	196	0
Additions during year:	116,795	45,310	0
Collection of principal	(19,258)	0	0
Collection of interest	(2,000)	(28)	0
Amortization of capitalized costs	(108)	(3)	0
Deductions during year:	(21,366)	(31)	0
Balance at end of year	140,708	45,279	0
Mortgage Loans on Real Estate [Member]
Mortgage Loans on Real Estate [Line Items]
Location	Maryland
Interest Rate	5.00%
Final Maturity Date	Jan. 15, 2014
Periodic Payment Terms	Interest only
Face Amount of Mortgages	95,000
Carrying Amount of Mortgages	95,485
Mezzanine Loan [Member]
Mortgage Loans on Real Estate [Line Items]
Location	California
Interest Rate	9.21%
Final Maturity Date	Jul. 09, 2016
Periodic Payment Terms	Interest only
Face Amount of Mortgages	45,000
Carrying Amount of Mortgages	$ 45,223

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Fair Value of Financial Instruments (Details) (USD $)	Dec. 31, 2012		Dec. 31, 2011
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage loan receivable, fair value	$ 142,200,000		$ 45,000,000
Mortgage loan receivable, carrying value	140,708,000		45,279,000
Mortgage Notes Payable, fair value	494,400,000		545,600,000
The carrying amount notes, including notes associated with properties held for sale	439,156,000		459,677,000
Unsecured senior notes payable, fair value	765,100,000		725,900,000
Unsecured senior notes payable, carrying value			688,796,000
Term Loan, fair value	255,200,000
Term loan	250,000,000
Redeemable noncontrolling interests	22,551,000		22,804,000
Investments in and advances to unconsolidated joint ventures	72,171,000	[1]	50,158,000	[1]
Assets Held For Sale [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
The carrying amount notes, including notes associated with properties held for sale	451,100,000		509,600,000
Unsecured Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unsecured senior notes payable, carrying value	729,130,000		688,800,000
Term Loan [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Term loan	250,000,000
Term Loan And Interest Rate Swaps [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of interest rate swap	$ 7,000,000

[1] With the exception of the Madison 2260 Realty LLC and Madison 1235 Realty LLC joint ventures, which are accounted for under the cost method, all unconsolidated joint ventures are accounted for under the equity method.

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Document and Entity Information (USD $)	12 Months Ended
	Dec. 31, 2012	Feb. 19, 2013	Jun. 30, 2012
Document And Entity Information [Abstract]
Entity Registrant Name	EQUITY ONE, INC.
Entity Central Index Key	0001042810
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-K
Document Period End Date	Dec. 31, 2012
Document Fiscal Year Focus	2012
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Common Stock, Shares Outstanding		118,897,559
Entity Public Float			$ 1,216,190,610
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes

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Condensed Consolidating Financial Information (Schedule of Condensed Consolidating Statements of Cash Flows) (Details) (USD $)	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Net cash (used in) provided by operating activities	$ 153,219,000	$ 102,626,000	$ 71,562,000
INVESTING ACTIVITIES:
Acquisition of income producing properties	(243,549,000)	(279,080,000)	(108,096,000)
Additions to income producing properties	(20,175,000)	(16,396,000)	(9,857,000)
Acquisition of land held for development	(9,505,000)	0	(1,337,000)
Additions to construction in progress	(65,143,000)	(43,097,000)	(9,914,000)
Proceeds from sale of real estate and rental properties	41,994,000	399,396,000	4,317,000
Decrease (increase) in cash held in escrow	91,592,000	(91,591,000)
Increase in deferred leasing costs and lease intangibles	(7,169,000)	(7,154,000)	(4,761,000)
Investment in joint ventures	(26,392,000)	(15,024,000)	(13,927,000)
Investment in consolidated subsidiary		(242,000)	(13,437,000)
Repayments of advances to joint ventures	517,000	34,887,000	(33,417,000)
Distributions from joint ventures	567,000	18,786,000	345,000
Investment in loans receivable	(114,258,000)	(45,100,000)
Repayment of loans receivable	19,258,000
Advances to subsidiaries, net
Net cash used in investing activities	(332,263,000)	(44,615,000)	(189,243,000)
FINANCING ACTIVITIES:
Repayment of mortgage notes payable	(66,173,000)	(246,864,000)	(74,757,000)
Net borrowings under revolving credit facilities	34,000,000	138,000,000
Proceeds from senior debt borrowings	296,823,000	0	0
Repayment of senior debt	(287,840,000)
Proceeds from issuance of common stock	85,838,000	116,542,000	270,698,000
Borrowings under term loan	250,000,000	0	0
Payment of deferred financing costs	(3,251,000)	(5,039,000)	(967,000)
Stock issuance costs	(883,000)	(1,185,000)	(3,319,000)
Dividends paid to stockholders	(102,078,000)	(98,842,000)	(83,611,000)
Payments of Ordinary Dividends, Noncontrolling Interest, Excluding Redeemable Noncontrolling Interest	9,995,000		0
Payments of Dividends, Redeemable Noncontrolling Interests	(944,000)	(11,405,000)
Net cash provided by financing activities	195,497,000	(108,793,000)	108,044,000
Net increase (decrease) in cash and cash equivalents	16,453,000	(50,782,000)	(9,637,000)
Cash and cash equivalents obtained through acquisition		23,412,000
Cash and cash equivalents at beginning of the period	10,963,000	38,333,000	47,970,000
Cash and cash equivalents at end of the period	27,416,000	10,963,000	38,333,000
Payments to Acquire Additional Interest in Subsidiaries			(13,437,000)
Proceeds from Sale of Other Investments	0	0	841,000
Equity One, Inc. [Member]
Net cash (used in) provided by operating activities	(121,293,000)	98,588,000	(176,475,000)
INVESTING ACTIVITIES:
Acquisition of income producing properties		(55,000,000)
Additions to income producing properties	(4,853,000)	(2,296,000)	(1,853,000)
Acquisition of land held for development	0		(1,337,000)
Additions to construction in progress	(682,000)	(2,339,000)	(4,432,000)
Proceeds from sale of real estate and rental properties	1,417,000	3,206,000	1,861,000
Decrease (increase) in cash held in escrow	90,846,000	(91,591,000)
Increase in deferred leasing costs and lease intangibles	(1,739,000)	(1,416,000)	(1,667,000)
Investment in joint ventures
Investment in consolidated subsidiary
Repayments of advances to joint ventures
Distributions from joint ventures
Investment in loans receivable	(114,258,000)	(45,100,000)
Repayment of loans receivable	19,258,000
Advances to subsidiaries, net	(107,328,000)	(67,836,000)	16,488,000
Net cash used in investing activities	(117,339,000)	(262,372,000)	(3,536,000)
FINANCING ACTIVITIES:
Repayment of mortgage notes payable	(6,585,000)	(1,808,000)	(12,825,000)
Net borrowings under revolving credit facilities	34,000,000	138,000,000
Proceeds from senior debt borrowings	296,823,000
Repayment of senior debt	(287,840,000)
Proceeds from issuance of common stock	85,838,000	116,542,000	270,698,000
Borrowings under term loan	250,000,000
Payment of deferred financing costs	(3,251,000)	(4,888,000)	(569,000)
Stock issuance costs	(883,000)	(1,185,000)	(3,319,000)
Dividends paid to stockholders	(102,078,000)	(98,842,000)	(83,611,000)
Payments of Ordinary Dividends, Noncontrolling Interest, Excluding Redeemable Noncontrolling Interest	9,995,000
Payments of Dividends, Redeemable Noncontrolling Interests	(944,000)	(11,405,000)
Net cash provided by financing activities	255,085,000	136,414,000	170,374,000
Net increase (decrease) in cash and cash equivalents	16,453,000	(27,370,000)	(9,637,000)
Cash and cash equivalents obtained through acquisition
Cash and cash equivalents at beginning of the period	10,963,000	38,333,000	47,970,000
Cash and cash equivalents at end of the period	27,416,000	10,963,000	38,333,000
Payments to Acquire Additional Interest in Subsidiaries			(13,437,000)
Proceeds from Sale of Other Investments			841,000
Combined Guarantor Subsidiaries [Member]
Net cash (used in) provided by operating activities	108,376,000	27,461,000	92,438,000
INVESTING ACTIVITIES:
Acquisition of income producing properties	(73,235,000)	(55,500,000)	(67,720,000)
Additions to income producing properties	(12,324,000)	(11,377,000)	(4,266,000)
Acquisition of land held for development	(9,505,000)
Additions to construction in progress	(63,683,000)	(40,376,000)	(4,280,000)
Proceeds from sale of real estate and rental properties	15,342,000	11,705,000	1,447,000
Decrease (increase) in cash held in escrow
Increase in deferred leasing costs and lease intangibles	(3,344,000)	(4,142,000)	(2,082,000)
Investment in joint ventures
Investment in consolidated subsidiary
Repayments of advances to joint ventures
Distributions from joint ventures
Investment in loans receivable
Repayment of loans receivable
Advances to subsidiaries, net	56,135,000	161,910,000	34,939,000
Net cash used in investing activities	(90,614,000)	62,220,000	(41,962,000)
FINANCING ACTIVITIES:
Repayment of mortgage notes payable	(17,762,000)	(89,681,000)	(50,222,000)
Net borrowings under revolving credit facilities
Proceeds from senior debt borrowings	0
Repayment of senior debt
Proceeds from issuance of common stock
Borrowings under term loan
Payment of deferred financing costs			(254,000)
Stock issuance costs
Dividends paid to stockholders
Payments of Ordinary Dividends, Noncontrolling Interest, Excluding Redeemable Noncontrolling Interest
Payments of Dividends, Redeemable Noncontrolling Interests
Net cash provided by financing activities	(17,762,000)	(89,681,000)	(50,476,000)
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents obtained through acquisition
Cash and cash equivalents at beginning of the period
Cash and cash equivalents at end of the period
Payments to Acquire Additional Interest in Subsidiaries
Proceeds from Sale of Other Investments
Non-Guarantor Subsidiaries [Member]
Net cash (used in) provided by operating activities	166,136,000	(23,423,000)	155,599,000
INVESTING ACTIVITIES:
Acquisition of income producing properties	(170,314,000)	(168,580,000)	(40,376,000)
Additions to income producing properties	(2,998,000)	(2,723,000)	(3,738,000)
Acquisition of land held for development	0
Additions to construction in progress	(778,000)	(382,000)	(1,202,000)
Proceeds from sale of real estate and rental properties	25,235,000	384,485,000	1,009,000
Decrease (increase) in cash held in escrow	746,000
Increase in deferred leasing costs and lease intangibles	(2,086,000)	(1,596,000)	(1,012,000)
Investment in joint ventures	(26,392,000)	(15,024,000)	(13,927,000)
Investment in consolidated subsidiary		(242,000)
Repayments of advances to joint ventures	517,000	34,887,000	(33,417,000)
Distributions from joint ventures	567,000	18,786,000	345,000
Investment in loans receivable
Repayment of loans receivable
Advances to subsidiaries, net	51,193,000	(94,074,000)	(51,427,000)
Net cash used in investing activities	(124,310,000)	155,537,000	(143,745,000)
FINANCING ACTIVITIES:
Repayment of mortgage notes payable	(41,826,000)	(155,375,000)	(11,710,000)
Net borrowings under revolving credit facilities
Proceeds from senior debt borrowings	0
Repayment of senior debt
Proceeds from issuance of common stock
Borrowings under term loan
Payment of deferred financing costs		(151,000)	(144,000)
Stock issuance costs
Dividends paid to stockholders
Payments of Ordinary Dividends, Noncontrolling Interest, Excluding Redeemable Noncontrolling Interest
Payments of Dividends, Redeemable Noncontrolling Interests
Net cash provided by financing activities	(41,826,000)	(155,526,000)	(11,854,000)
Net increase (decrease) in cash and cash equivalents		(23,412,000)
Cash and cash equivalents obtained through acquisition		23,412,000
Cash and cash equivalents at beginning of the period
Cash and cash equivalents at end of the period
Payments to Acquire Additional Interest in Subsidiaries
Proceeds from Sale of Other Investments

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Investments in Joint Ventures

12 Months Ended

Dec. 31, 2012

Equity Method Investments and Joint Ventures [Abstract]

Investments in and Advances to Unconsolidated Joint Ventures

Investments in Joint Ventures

As of December 31, 2012, our investments in and advances to unconsolidated joint ventures was composed of the following:

				Investment Balance at December 31,
Joint Venture (1)	Number of Properties	Location	Ownership	2012		2011
				(In thousands)
Investments in unconsolidated joint ventures:
GRI-EQY I, LLC (2)	10	GA, SC, FL	10.0%	$	8,587	$	7,705
G&I Investment South Florida Portfolio, LLC	3	FL	20.0%	3,491		3,215
Madison 2260 Realty LLC	1	NY	8.6%	634		1,066
Madison 1235 Realty LLC	1	NY	20.1%	1,000		1,000
Talega Village Center JV, LLC (3)	1	CA	50.5%	2,909		3,620
Vernola Marketplace JV, LLC (3)	1	CA	50.5%	6,972		7,433
Parnassus Heights Medical Center	1	CA	50.0%	20,385		13,695
Equity One JV Portfolio, LLC (4)	4	FL, MA	30.0%	27,589		11,393
Total				71,567		49,127
Advances to unconsolidated joint ventures				604		1,031
Investments in and advances to unconsolidated joint ventures				$	72,171	$	50,158

^{______________________________________________} 

⁽¹⁾ With the exception of the Madison 2260 Realty LLC and Madison 1235 Realty LLC joint ventures, which are accounted for under the cost method, all unconsolidated joint ventures are accounted for under the equity method.

⁽²⁾ The investment balance as of December 31, 2012 and December 31, 2011 is presented net of deferred gains of $3.3 million for both periods associated with the disposition of assets by us to the joint venture.

⁽³⁾ Our effective interest is 48% when considering the 5% noncontrolling interest held by Vestar Development Company.

⁽⁴⁾ The investment balance as of December 31, 2012 and December 31, 2011 is presented net of a deferred gain of approximately $404,000 for both periods associated with the disposition of assets by us to the joint venture.

Equity in income (losses) of unconsolidated joint ventures totaled $542,000, $4.8 million and $(116,000) for the years ended December 31, 2012, 2011 and 2010, respectively. Management fees and leasing fees paid to us associated with these joint ventures, which are included in management and leasing services revenue in the accompanying consolidated statements of operations, totaled approximately $2.4 million, $1.8 million and $1.3 million for the years ended December 31, 2012, 2011 and 2010, respectively.

At December 31, 2012 and 2011, the aggregate carrying amount of our unconsolidated joint venture debt was $292.0 million and $249.9 million, respectively, of which our aggregate proportionate share was $65.3 million and $54.5 million, respectively. During the year ended December 31, 2012, we made investments of $7.5 million in two of our unconsolidated joint ventures in connection with repayments of indebtedness by those joint ventures totaling $21.1 million. Although we have not guaranteed the debt of these joint ventures, we have agreed to customary environmental indemnifications and nonrecourse carve-outs (e.g., guarantees against fraud, misrepresentation and bankruptcy) on certain of the loans of the joint ventures.

Equity One/Vestar Joint Ventures

In December 2010, we acquired ownership interests in three properties through joint ventures. Two of the properties are located in California and were acquired through partnerships (the “Equity One/Vestar JVs”) with Vestar Development Company (“Vestar”). In both of these joint ventures, we hold a 95% interest, and they are consolidated. Each Equity One/Vestar JV holds a 50.5% ownership interest in each of the California properties through two separate joint ventures with Rockwood Capital (the “Rockwood JVs”). The Equity One/Vestar JVs’ ownership interests in the properties are accounted for under the equity method. Included in our original investment were two bridge loans with an aggregate balance of $35.0 million, secured by the properties, made by the Equity One/Vestar JVs to the Rockwood JVs as short-term financing until longer-term mortgage financing was obtained. During the third quarter of 2011, the bridge loans and related accrued interest were repaid to us in full with proceeds from new mortgages obtained by the joint ventures.

Upon formation, the Rockwood JVs were considered VIEs for which the Equity One/Vestar JVs, which we control, were not the primary beneficiaries due to shared control and lack of financial interest. Since the bridge loans were repaid to us during 2011 and the Rockwood JVs were able to secure long term mortgage financing from a third party lender, the Rockwood JVs are no longer considered VIEs.

CapCo Joint Ventures

In connection with the CapCo acquisition on January 4, 2011, we acquired ownership interests in three properties located in California through joint ventures, tenants-in-common or other shared ownership. The joint ventures included Pacific Financial Center, Parnassus Heights Medical Center and Trio Apartments. The aggregate fair value of these joint ventures as of January 4, 2011 was $47.4 million. Our ownership interests in these properties are/were accounted for under the equity method.

In September 2011, the property held by the Pacific Financial Center joint venture was sold. Our proportionate share of the gain, $4.3 million, is included in equity in income (loss) of unconsolidated joint ventures in the consolidated statement of operations for the year ended December 31, 2011.

In September 2011, the property held by the Trio Apartments joint venture was sold. Immediately preceding the sale of the property to a third party, we purchased our partner’s interest in the joint venture and consolidated the entity prior to the sale of the asset. As a result of the consolidation and corresponding remeasurement of our investment balance, a gain on sale of $3.2 million and our pro-rata share of the income of the joint venture of $704,000 for the year ended December 31, 2011 is included in discontinued operations in the consolidated statement of operations.

In addition, in connection with our acquisition of CapCo, we acquired a special purpose entity which held a 58% controlling interest in the Senator office building located in Sacramento, California. At the time of our acquisition, the special purpose entity and the other co-owners in the Senator building were in default of a $38.3 million non-recourse loan secured by the property. As a result of the continuing default, the lender and special servicer accelerated the loan and foreclosed on the property on September 20, 2011. It was our intention when we acquired our interest in the property to relinquish title. Accordingly, at the time of acquisition, we assigned no value to our interest in this special purpose entity.

New York Common Retirement Fund Joint Venture

In May 2011, we sold two operating properties, Country Walk Plaza in Miami, Florida and Veranda Shoppes in Plantation, Florida to Equity One JV Portfolio, LLC, a then-newly formed joint venture between us and the New York State Common Retirement Fund (“NYCRF”). NYCRF holds a 70% interest in the joint venture and we own a 30% interest. We perform the day to day accounting and property management functions for the joint venture and, as such, earn a management fee for the services provided. Our ownership interest in this joint venture is accounted for under the equity method. In December 2011, the joint venture purchased an operating property located in Framingham, Massachusetts, for an aggregate purchase price of $23.2 million, which included the assumption of $10.4 million of mortgage debt.

On January 26, 2012, the joint venture made an $18.5 million mortgage loan (the “JV Loan”) secured by a newly developed shopping center. In addition to the JV Loan, we provided a mezzanine loan ("the Mezzanine Loan") indirectly secured by the shopping center in the amount of $19.3 million. The joint venture had an option to purchase the shopping center that was exercisable during certain periods prior to March 26, 2013, and the borrower had a put option to sell the shopping center to the joint venture that was exercisable during certain different periods prior to October 26, 2013. During the fourth quarter of 2012, the joint venture exercised its purchase option and ultimately acquired the shopping center in December 2012 at a purchase price of $128.4 million. Concurrent with the closing of the transaction, the Mezzanine Loan of $19.3 million was repaid without penalty, and the JV Loan was converted by the joint venture into a direct ownership interest in the shopping center. As of December 31, 2012, the joint venture continues to hold an option to purchase an additional 62,523 square foot phase of the shopping center in 2013 for approximately $16.0 million. During the period that the JV Loan and Mezzanine Loan were outstanding, we determined that the entities holding direct and indirect ownership interests in the shopping center were VIEs, and, in relation to the VIE in which we held a variable interest, we were not the primary beneficiary as we did not have the power to direct the activities that most significantly impacted the entity's economic performance. However, as the Mezzanine Loan was repaid during December 2012, we determined that we were no longer required to assess the applicable VIE for potential consolidation as we no longer held a variable interest in the entity.

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Investments in Joint Ventures (Narrative) (Details) (USD $)	1 Months Ended	12 Months Ended				12 Months Ended						12 Months Ended							9 Months Ended			12 Months Ended				12 Months Ended		12 Months Ended
	Jan. 26, 2012	Dec. 31, 2012 ventures property	Dec. 31, 2011	Dec. 31, 2010	Jan. 04, 2011 property	Dec. 31, 2012 Equity One, Inc. [Member]	Dec. 31, 2011 Equity One, Inc. [Member]	Dec. 31, 2010 Equity One, Inc. [Member]	Dec. 31, 2012 GRI-EQY I, LLC [Member]	Dec. 31, 2011 GRI-EQY I, LLC [Member]	Dec. 31, 2012 New York State Common Retirement Fund [Member]	Dec. 31, 2012 New York State Common Retirement Fund [Member] Equity One, Inc. [Member]	Dec. 31, 2012 Equity One JV Portfolio, LLC (NYCRF) [Member]	Dec. 31, 2011 Equity One JV Portfolio, LLC (NYCRF) [Member]	Dec. 31, 2012 Unconsolidated Joint Venture [Member] sqft	Dec. 31, 2011 Unconsolidated Joint Venture [Member]	Dec. 31, 2010 Vestar [Member] Equity One, Inc. [Member] properties	Dec. 31, 2012 Rockwood Joint Ventures [Member]	Sep. 30, 2011 CapCo [Member]	Jan. 04, 2011 CapCo [Member]	Dec. 31, 2012 CapCo [Member] Equity One, Inc. [Member]	Dec. 31, 2012 Pacific Financial Center Joint Venture [Member]	Dec. 31, 2010 California [Member] Vestar [Member] Equity One, Inc. [Member] properties	Dec. 31, 2012 California [Member] Rockwood Joint Ventures [Member]	Dec. 31, 2012 California [Member] CapCo [Member]	Dec. 31, 2011 Massachusetts [Member] New York State Common Retirement Fund [Member] Equity One, Inc. [Member]	Dec. 31, 2012 Florida [Member] Equity One, Inc. [Member]	Dec. 31, 2012 Leasing Fees [Member]	Dec. 31, 2011 Leasing Fees [Member]	Dec. 31, 2010 Leasing Fees [Member]	Oct. 31, 2012 Mezzanine Loan [Member]
Schedule of Equity Method Investments [Line Items]
Equity in income of unconsolidated joint ventures		$ 542,000	$ 4,829,000	$ (116,000)
Fees paid associated with these joint ventures, which are included in management and leasing services revenue																												2,400,000	1,800,000	1,300,000
Mortgage debt	18,500,000											10,400,000			292,000,000	249,900,000
Unconsolidated joint venture debt, entity pro-rata share															65,300,000	54,500,000
Payments to Acquire Interest in Joint Venture		26,392,000	15,024,000	13,927,000											7,500,000
Number of Equity Method Investments Entered Into		2
Equity Method Investment, Repayment of Debt															21,100,000
Number of Real Estate Properties		168			13												3						2
Ownership interests in properties through joint ventures						95.00%					70.00%										58.00%			50.50%			30.00%
Bridge Loan																		35,000,000
Aggregate fair value of joint venture																				47,400,000
Net of deferred gains associated with the disposition of assets						704,000			3,300,000	3,300,000			404,000	404,000					3,200,000			4,300,000
Default, non-recourse loan																									38,300,000
Joint venture aggregate purchase price																										23,200,000
Predetermined fixed amount of joint venture purchase price	128,400,000
Mezzanine loans receivable, net		140,708,000	45,279,000																												19,300,000
Purchase Option, Property, Area															62,523
Purchase Option, Property															$ 16,000,000

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Borrowings (Unsecured Revolving Credit Facilities) (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2012
Debt Disclosure [Abstract]
2013	$ 38,013
2014	14,184
2015	341,539
2016	233,353
2016	288,981
Thereafter	676,222
Long-term Debt, Total	$ 1,592,292

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Consolidated Statements of Operations (USD $) In Thousands, except Per Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011		Dec. 31, 2010
REVENUE:
Minimum rent	$ 246,105	$ 212,783		$ 167,147
Expense recoveries	72,757	61,958		47,824
Percentage rent	4,260	3,180		1,481
Management and leasing services	2,489	2,287		1,557
Total revenue	325,611	280,208		218,009
COSTS AND EXPENSES:
Property operating	87,645	79,126		60,593
Rental property depreciation and amortization	86,006	81,446		48,294
General and administrative	42,474	50,976		41,360
Total costs and expenses	216,125	211,548		150,247
INCOME BEFORE OTHER INCOME AND EXPENSE, TAX AND DISCONTINUED OPERATIONS	109,486	68,660		67,762
OTHER INCOME AND EXPENSE:
Investment income	7,248	4,342		930
Equity in income (loss) of unconsolidated joint ventures	542	4,829		(116)
Other income	45	406		648
Interest expense	(72,175)	(68,964)		(62,734)
Amortization of deferred financing fees	(2,479)	(2,207)		(1,891)
Gain on bargain purchase		30,561
Gain on sale of real estate		5,541		254
(Loss) gain on extinguishment of debt	(29,153)	(2,175)		33
Impairment loss	(22,772)	(19,158)		(464)
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE TAX AND DISCONTINUED OPERATIONS	(9,258)	21,835		4,422
Income tax benefit of taxable REIT subsidiaries	2,503	5,064		1,724
INCOME (LOSS) FROM CONTINUING OPERATIONS	(6,755)	26,899		6,146
DISCONTINUED OPERATIONS:
Operations of income producing properties sold or held for sale	4,061	20,515		14,198
Gain on disposal of income producing properties	16,588	4,407		2,257
Impairment loss on income producing properties sold or held for sale	(6,669)	(38,178)		(223)
Income tax benefit of taxable REIT subsidiaries		29,575		2,041
INCOME FROM DISCONTINUED OPERATIONS	13,980	16,319		18,273
NET INCOME (LOSS)	7,225	43,218		24,419
Net (income) loss attributable to noncontrolling interests - continuing operations	(10,702)	(9,630)		254
Net loss attributable to noncontrolling interests - discontinued operations		33		439
NET INCOME (LOSS) ATTRIBUTABLE TO EQUITY ONE, INC.	$ (3,477)	$ 33,621		$ 25,112
EARNINGS (LOSS) PER COMMON SHARE - BASIC:
Continuing operations (in usd per share)	$ (0.16)	$ 0.15		$ 0.07
Discontinued operations (in usd per share)	$ 0.12	$ 0.15		$ 0.20
Earnings per common share - Basic (in usd per share)	$ (0.04)	$ 0.29	[1]	$ 0.27
Number of Shares Used in Computing Basic Earnings per Share (in shares)	114,233	110,099		91,536
EARNINGS (LOSS) PER COMMON SHARE - DILUTED:
Continuing operations (in usd per share)	$ (0.16)	$ 0.15		$ 0.07
Discontinued operations (in usd per share)	$ 0.12	$ 0.15		$ 0.20
Earnings per common share - Diluted (in usd per share)	$ (0.04)	$ 0.29	[1]	$ 0.27
Number of Shares Used in Computing Diluted Earnings (Loss) per Share (in shares)	114,233	110,241		91,710

[1] Note: EPS does not foot due to the rounding of the individual calculations.

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Properties

12 Months Ended

Dec. 31, 2012

Property, Plant and Equipment [Abstract]

Properties

Properties

The following table is a summary of the composition of income producing properties in the consolidated balance sheets:

	December 31,
	2012			2011
	(In thousands)
Land and land improvements	$	1,362,343		$	1,211,691
Building and building improvements	1,688,791			1,520,772
Tenant improvements	97,834			97,562
	3,148,968			2,830,025
Less: accumulated depreciation	(335,862		)	(277,197		)
Income producing property, net	$	2,813,106		$	2,552,828

Capitalized Costs

We capitalized external and internal costs related to development and redevelopment activities of $82.7 million and $1.1 million, respectively, in 2012 and $45.9 million and $544,000, respectively, in 2011. We capitalized external and internal costs related to other property improvements of $21.2 million and $100,000, respectively in 2012, and $24.6 million and $173,000, respectively, in 2011. We capitalized external and internal costs related to successful leasing activities of $2.5 million and $3.8 million, respectively, in 2012 and $4.0 million and $3.2 million, respectively, in 2011.

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Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2012

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Summary of Significant Accounting Policies

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”), requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.

Properties

Income producing properties are stated at cost, less accumulated depreciation and amortization. Costs include those related to acquisition, development and construction, including tenant improvements, interest incurred during development, costs of predevelopment and certain direct and indirect costs of development. Costs related to business combinations are expensed as incurred, and are included in general and administrative expenses in our consolidated statements of operations.

Depreciation and amortization is computed using the straight-line method over the estimated useful lives of the assets as follows:

Buildings	30-55 years
Buildings and land improvements	2-40 years
Tenant improvements	Lesser of minimum lease term or economic useful life
Furniture and equipment	5-7 years

Expenditures for ordinary maintenance and repairs are expensed to operations as they are incurred. Significant renovations and improvements that improve or extend the useful lives of assets are capitalized.

Business Combinations

We allocate the purchase price of acquired properties to land, building, improvements and intangible assets and liabilities in accordance with the Business Combinations Topic of the FASB ASC. We allocate the initial purchase price of assets acquired (net tangible and identifiable intangible assets) and liabilities assumed based on their relative fair values at the date of acquisition. Upon acquisition of real estate operating properties, we estimate the fair value of acquired tangible assets (consisting of land, building, building improvements and tenant improvements) and identified intangible assets and liabilities (consisting of above and below-market leases, in-place leases and tenant relationships), assumed debt and redeemable units issued at the date of acquisition, based on the evaluation of information and estimates available at that date. Based on these estimates, we allocate the estimated fair value to the applicable assets and liabilities. Fair value is determined based on an exit price approach, which contemplates the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. If, up to one year from the acquisition date, information regarding fair value of the assets acquired and liabilities assumed is received and estimates are refined, appropriate adjustments are made to the purchase price allocation on a retrospective basis. There are four categories of intangible assets and liabilities to be considered: (1) in-place leases; (2) above and below-market value of in-place leases; (3) lease origination costs and (4) customer relationships. The aggregate value of other acquired intangible assets, consisting of in-place leases, is measured by the excess of (i) the purchase price paid for a property after adjusting existing in-place leases, including fixed rate renewal options, to market rental rates over (ii) the estimated fair value of the property as-if-vacant, determined as set forth above. The value of in-place leases exclusive of the value of above-market and below-market in-place leases is amortized to depreciation expense over the estimated remaining term of the respective leases. The value of above-market and below-market in-place leases is amortized to rental revenue over the estimated remaining term of the leases. If a lease terminates prior to its stated expiration, all unamortized amounts relating to that lease are written off.

In allocating the purchase price to identified intangible assets and liabilities of an acquired property, the value of above-market and below-market leases is estimated based on the present value of the difference between the contractual amounts, including fixed rate renewal options, to be paid pursuant to the leases and management’s estimate of the market lease rates and other lease provisions (i.e., expense recapture, base rental changes, etc.) measured over a period equal to the estimated remaining term of the lease. The capitalized above-market or below-market intangible is amortized to rental income over the estimated remaining term of the respective lease, which includes the expected renewal option period, if applicable.

The results of operations of acquired properties are included in our financial statements as of the dates they are acquired. The intangible assets and liabilities associated with property acquisitions are included in other assets and other liabilities in our consolidated balance sheets.

Construction in Progress and Land Held for Development

Properties also include construction in progress and land held for development. These properties are carried at cost and no depreciation is recorded. Properties undergoing significant renovations and improvements are considered under development. All direct and indirect costs related to development activities are capitalized into construction in progress and land held for development on our consolidated balance sheets, except for certain demolition costs, which are expensed as incurred. Costs incurred include predevelopment expenditures directly related to a specific project including development and construction costs, interest, insurance and real estate taxes. Indirect development costs include employee salaries and benefits, travel and other related costs that are directly associated with the development of the property. Our method of calculating capitalized interest is based upon applying our weighted average borrowing rate to the actual costs incurred. The capitalization of such expenses ceases when the property is ready for its intended use, but no later than one-year from substantial completion of major construction activity. If we determine that a project is no longer viable, all predevelopment project costs are immediately expensed. Similar costs related to properties not under development are expensed as incurred.

Long-lived Assets

Properties Held and Used

We evaluate the carrying value of long-lived assets, including definite-lived intangible assets, when events or changes in circumstances indicate that the carrying value may not be recoverable in accordance with the Property, Plant and Equipment Topic of the FASB ASC. The carrying value of a long-lived asset is considered impaired when the total projected undiscounted cash flows from such asset is separately identifiable and is less than its carrying value. In that event, a loss is recognized based on the amount by which the carrying value exceeds the fair value of the long-lived asset. The fair value of fixed (tangible) assets and definite-lived intangible assets is determined primarily using either internal projected cash flows discounted at a rate commensurate with the risk involved or an external appraisal. At December 31, 2012, we reviewed the operating properties and construction in progress for impairment on a property-by-property and project-by-project basis in accordance with the Property, Plant and Equipment Topic of the FASB ASC, as we determined management's capital recycling initiatives and the fair values obtained from recent appraisals to be general indicators of impairment.

Each property was assessed individually and as a result, the assumptions used to derive future cash flows varied by property or project. These key assumptions are dependent on property-specific conditions, are inherently uncertain and consider the perspective of a third-party marketplace participant. The factors that may influence the assumptions include:

• historical project performance, including current occupancy, projected capitalization rates and net operating income;

• competitors’ presence and their actions;

• property specific attributes such as location desirability, anchor tenants and demographics;

• current local market economic and demographic conditions; and

• future expected capital expenditures and the period of time before net operating income is stabilized.

After considering these factors, we project future cash flows for each property based on management’s intention for that property (holding period) and, if appropriate, an assumed sale at the final year of the holding period (reversion value) using a projected capitalization rate. If the resulting carrying amount of the property exceeds the estimated undiscounted cash flows (including the projected reversion value) from the property, an impairment charge would be recognized to reduce the carrying value of the property to its fair value.

Properties Held for Sale

Properties held for sale are recorded at the lower of the carrying amount or the expected sales price less costs to sell. The sale or disposal of a “component of an entity” is treated as discontinued operations. The operating properties sold by us typically meet the definition of a component of an entity and as such the revenue and expenses associated with sold properties are reclassified to discontinued operations for all periods presented.

The application of current accounting principles that govern the classification of any of our properties as held-for-sale on the consolidated balance sheet, or the presentation of results of operations and gains or losses on the sale of these properties as discontinued, requires management to make certain significant judgments. In evaluating whether a property meets the criteria set forth by the Property, Plant and Equipment Topic of the FASB ASC, we make a determination as to the point in time that it is probable that a sale will be consummated. Given the nature of all real estate sales contracts, it is not unusual for such contracts to allow potential buyers a period of time to evaluate the property prior to formal acceptance of the contract. In addition, certain other matters critical to the final sale, such as financing arrangements often remain pending even upon contract acceptance. As a result, properties under contract may not close within the expected time period, or may not close at all. Therefore, any properties categorized as held-for-sale represent only those properties that management has determined are probable to close within the requirements set forth in the Property, Plant and Equipment Topic of the FASB ASC. Prior to sale, we evaluate the extent of involvement with, and the significance to us of cash flows from a property subsequent to its sale, in order to determine if the results of operations and gain or loss on sale should be reflected as discontinued. Consistent with the Property, Plant and Equipment Topic of the FASB ASC, any property sold in which we have continuing involvement or cash flows (typically sales to co-investment partnerships that we do not control and for which we have recognized a partial sale of real estate) is not considered to be discontinued. In addition, any property which we sell to an unrelated third party, but in which we retain a property or asset management function, is not considered discontinued. Therefore, based on our evaluation of the Property, Plant and Equipment Topic of the FASB ASC only properties sold, or to be sold, to unrelated third parties where we will have no continuing involvement or cash flows are classified as discontinued operations.

Cash and Cash Equivalents

We consider liquid investments with a purchase date life to maturity of three months or less to be cash equivalents.

Cash Held in Escrow and Restricted Cash

Cash held in escrow and restricted cash represents the cash proceeds of property sales that are being held by qualified intermediaries in anticipation of the acquisition of replacement properties in tax-free exchanges under Section 1031 of the Internal Revenue Code of 1986, as amended (the "Code") or cash that is not immediately available to us.

Accounts and Other Receivables

Accounts receivable includes amounts billed to tenants and accrued expense recoveries due from tenants. We make estimates of the uncollectability of our accounts receivable using the specific identification method. We analyze accounts receivable and historical bad debt levels, tenant credit-worthiness, payment history and industry trends when evaluating the adequacy of the allowance for doubtful accounts. Accounts receivable are written-off when they are deemed to be uncollectable and we are no longer actively pursuing collection. Our reported net income is directly affected by management’s estimate of the collectability of accounts receivable.

Investments in Joint Ventures

We analyze our joint ventures under the FASB ASC Topics of Consolidation and Real Estate-General in order to determine whether the entity should be consolidated. If it is determined that these investments do not require consolidation because the entities are not VIEs in accordance with the Consolidation Topic of the FASB ASC, we are not considered the primary beneficiary of the entities determined to be VIEs, we do not have voting control, and/or the limited partners (or non-managing members) have substantive participatory rights, then the selection of the accounting method used to account for our investments in unconsolidated joint ventures is generally determined by our voting interests and the degree of influence we have over the entity. Management uses its judgment when determining if we are the primary beneficiary of, or have a controlling financial interest in, an entity in which we have a variable interest. Factors considered in determining whether we have the power to direct the activities that most significantly impact the entity’s economic performance include risk and reward sharing, experience and financial condition of the other partners, voting rights, involvement in day-to-day capital and operating decisions and the extent of our involvement in the entity.

We use the equity method of accounting for investments in unconsolidated joint ventures when we own 20% or more of the voting interests and have significant influence but do not have a controlling financial interest, or if we own less than 20% of the voting interests but have determined that we have significant influence. Under the equity method, we record our investments in and advances to these entities in our consolidated balance sheets and our proportionate share of earnings or losses earned by the joint venture is recognized in equity in income (loss) of unconsolidated joint ventures in the accompanying consolidated statements of operations. We derive revenue through our involvement with unconsolidated joint ventures in the form of management and leasing services and interest earned on loans and advances. We account for this revenue gross of our ownership interest in each respective joint venture and record our proportionate share of related expenses in equity in income (loss) of unconsolidated joint ventures.

The cost method of accounting is used for unconsolidated entities in which we do not have the ability to exercise significant influence and we have virtually no influence over partnership operating and financial policies. Under the cost method, income distributions from the partnership are recognized in investment income. Distributions that exceed our share of earnings are applied to reduce the carrying value of our investment and any capital contributions will increase the carrying value of our investment. The fair value of a cost method investment is not estimated if there are no identified events or changes in circumstances that may have a significant adverse effect on the fair value of the investment.

These joint ventures typically obtain non-recourse third-party financing on their property investments, thus contractually limiting our exposure to losses to the amount of our equity investment, and, due to the lender’s exposure to losses, a lender typically will require a minimum level of equity in order to mitigate its risk. Our exposure to losses associated with unconsolidated joint ventures is primarily limited to the carrying value of these investments.

On a periodic basis, we evaluate our investments in unconsolidated entities for impairment in accordance with the Investments-Equity Method and Joint Ventures Topic of the FASB ASC. We assess whether there are any indicators, including underlying property operating performance and general market conditions, that the value of our investments in unconsolidated joint ventures may be impaired. An investment in a joint venture is considered impaired only if we determine that its fair value is less than the net carrying value of the investment in that joint venture on an other-than-temporary basis. Cash flow projections for the investments consider property level factors such as expected future operating income, trends and prospects, as well as the effects of demand, competition and other factors. We consider various qualitative factors to determine if a decrease in the value of our investment is other-than-temporary. These factors include age of the venture, our intent and ability to retain our investment in the entity, financial condition and long-term prospects of the entity and relationships with our partners and banks. If we believe that the decline in the fair value of the investment is temporary, no impairment charge is recorded. If our analysis indicates that there is an other-than-temporary impairment related to the investment in a particular joint venture, the carrying value of the venture will be adjusted to an amount that reflects the estimated fair value of the investment.

Loans Receivable

Loans receivable include both mortgage loans and mezzanine loans and are classified as held to maturity and recorded at the stated principal amount plus allowable deferred loan costs or fees, which are amortized as an adjustment of the loan’s yield over the term of the related loan. We evaluate the collectability of both interest and principal on the loan periodically to determine whether it is impaired. A loan is considered to be impaired when, based upon current information and events, it is probable that we will be unable to collect all amounts due according to the existing contractual terms. When a loan is considered to be impaired, the amount of loss is calculated by comparing the recorded investment to the value determined by discounting the expected future cash flows at the loan’s effective interest rate or to the proportionate value of the underlying collateral asset if applicable. Interest income on performing loans is accrued as earned.

Goodwill

Goodwill reflects the excess of the fair value of the acquired business over the fair value of net identifiable assets acquired in various business acquisitions. We account for goodwill in accordance with the Intangibles – Goodwill and Other Topic of the FASB ASC.

We perform annual, or more frequently in certain circumstances, impairment tests of our goodwill. We have elected to test for goodwill impairment in November of each year. The goodwill impairment test is a two-step process that requires us to make decisions in determining appropriate assumptions to use in the calculation. The first step consists of estimating the fair value of each reporting unit and comparing those estimated fair values with the carrying values, which include the allocated goodwill. If the estimated fair value is less than the carrying value, a second step is performed to compute the amount of the impairment, if any, by determining an “implied fair value” of goodwill. The determination of each reporting unit’s (each property is considered a reporting unit) implied fair value of goodwill requires us to allocate the estimated fair value of the reporting unit to its assets and liabilities. Any unallocated fair value represents the implied fair value of goodwill which is compared to its corresponding carrying amount.

Deposits

Deposits included in other assets comprise funds held by various institutions for future payments of property taxes, insurance, improvements, utility and other service deposits.

Deferred Costs and Intangibles

Deferred costs, intangible assets included in other assets, and intangible liabilities included in other liabilities consist of loan origination fees, leasing costs and the value of intangible assets and liabilities when a property was acquired. Loan and other fees directly related to rental property financing with third parties are amortized over the term of the loan using the effective interest method. Direct salaries, third-party fees and other costs incurred by us to originate a lease are capitalized and are amortized against the respective leases using the straight-line method over the term of the related leases. Intangible assets consist of in-place lease values, tenant origination costs and above-market rents that were recorded in connection with the acquisition of the properties. Intangible liabilities consist of below-market rents that are also recorded in connection with the acquisition of properties. Both intangible assets and liabilities are amortized and accreted using the straight-line method over the term of the related leases. When a lease is terminated early, any remaining unamortized or unaccreted balances under lease intangible assets or liabilities are charged to earnings. The useful lives of amortizable intangible assets are evaluated each reporting period with any changes in estimated useful lives being accounted for over the revised remaining useful life.

Noncontrolling Interests

Noncontrolling interests generally represent the portion of equity that we do not own in those entities that we consolidate. We account for and report our noncontrolling interests in accordance with the provisions required under the Consolidation Topic of the FASB ASC.

We identify our noncontrolling interests separately within the equity section on the consolidated balance sheets. Noncontrolling interests also include amounts related to joint venture units issued by consolidated subsidiaries or VIEs in connection with certain property acquisitions. Joint venture units which are redeemable for cash at the holder’s option or upon a contingent event outside of our control are classified as redeemable noncontrolling interests pursuant to the Distinguishing Liabilities from Equity Topic of the FASB ASC and are presented at redemption value in the mezzanine section between total liabilities and stockholders’ equity on the consolidated balance sheets. The amounts of consolidated net (loss) income attributable to Equity One, Inc. and to the noncontrolling interests are presented on the consolidated statements of operations.

Derivative Instruments and Hedging Activities

At times, we may use derivative instruments to manage exposure to variable interest rate risk. We generally enter into interest rate swaps to manage our exposure to variable interest rate risk and treasury locks to manage the risk of interest rates rising prior to the issuance of debt. We enter into derivative instruments that qualify as cash flow hedges and do not enter into derivative instruments for speculative purposes. The interest rate swaps associated with our cash flow hedges are recorded at fair value on a recurring basis. We assess effectiveness of our cash flow hedges both at inception and on an ongoing basis. The effective portion of changes in fair value of the interest rate swaps associated with our cash flow hedges is recorded in accumulated other comprehensive loss and is subsequently reclassified into interest expense as interest is incurred on the related variable rate debt. Within the next 12 months, we expect to reclassify $3.1 million as an increase to interest expense. Our cash flow hedges become ineffective if critical terms of the hedging instrument and the debt instrument do not perfectly match such as notional amounts, settlement dates, reset dates, calculation period and LIBOR rate. In addition, we evaluate the default risk of the counterparty by monitoring the credit worthiness of the counterparty. When ineffectiveness exists, the ineffective portion of changes in fair value of the interest rate swaps associated with our cash flow hedges is recognized in earnings in the period affected. Hedge ineffectiveness has not impacted earnings in 2012, and we do not anticipate it will have a significant effect in the future. Derivative instruments and hedging activities require management to make judgments on the nature of its derivatives and their effectiveness as hedges. These judgments determine if the changes in fair value of the derivative instruments are reported in the consolidated statements of operations as a component of net (loss) income or as a component of comprehensive (loss) income and as a component of stockholders’ equity of Equity One, Inc. on the consolidated balance sheets. While management believes its judgments are reasonable, a change in a derivative’s effectiveness as a hedge could materially affect expenses, net income and equity. See Note 14 for further detail on derivative activity.

Revenue Recognition

Revenue includes minimum rents, expense recoveries, percentage rental payments and management and leasing services. Minimum rents are recognized on an accrual basis over the terms of the related leases on a straight-line basis. As part of the leasing process, we may provide the lessee with an allowance for the construction of leasehold improvements. Leasehold improvements are capitalized and recorded as tenant improvements and depreciated over the shorter of the useful life of the improvements or the lease term. If the allowance represents a payment for a purpose other than funding leasehold improvements, or in the event we are not considered the owner of the improvements, the allowance is considered a lease incentive and is recognized over the lease term as a reduction to revenue. Factors considered during this evaluation include, among others, the type of improvements made, who holds legal title to the improvements, and other controlling rights provided by the lease agreement. Lease revenue recognition commences when the lessee is given possession of the leased space, when the asset is substantially complete in the case of leasehold improvements, and there are no contingencies offsetting the lessee’s obligation to pay rent.

Many of the lease agreements contain provisions that require the payment of additional rents based on the respective tenants’ sales volume (contingent or percentage rent) and substantially all contain provisions that require reimbursement of the tenants’ allocable real estate taxes, insurance and common area maintenance costs (“CAM”). Revenue based on percentage of tenants’ sales is recognized only after the tenant exceeds its sales breakpoint. Revenue from tenant reimbursements of taxes, CAM and insurance is recognized in the period that the applicable costs are incurred in accordance with the lease agreements.

We recognize gains or losses on sales of real estate in accordance with the Property, Plant and Equipment Topic of the FASB ASC. Profits are not recognized until (a) a sale has been consummated; (b) the buyer’s initial and continuing investments are adequate to demonstrate a commitment to pay for the property; (c) our receivable, if any, is not subject to future subordination; and (d) we have transferred to the buyer the usual risks and rewards of ownership, and we do not have a substantial continuing involvement with the property.

We are engaged by certain joint ventures to provide asset management, property management, leasing and investing services for such venture’s respective assets. We receive fees for our services, including a property management fee calculated as a percentage of gross revenue received, and recognize these fees as the services are rendered.

Earnings Per Share

Under the Earnings Per Share Topic of the FASB ASC, unvested share-based payment awards that entitle their holders to receive non-forfeitable dividends, such as our restricted stock awards, are classified as “participating securities.” As participating securities, our shares of restricted stock will be included in the calculation of basic and diluted earnings per share. Because the awards are considered participating securities under provisions of the Earnings Per Share Topic of the FASB ASC, we are required to apply the two-class method of computing basic and diluted earnings per share. The two-class method is an earnings allocation formula that treats a participating security as having rights to earnings that would otherwise have been available to common stockholders. Under the two-class method, earnings for the period are allocated between common stockholders and other security holders, based on their respective rights to receive dividends.

Segment Information

We invest in properties through direct ownership or through joint ventures. It is our intent that all properties will be owned or developed for investment purposes; however, we may decide to sell all or a portion of a development upon completion. Our revenue and net income are generated from the operation of our investment property. We also earn fees from third parties for services provided to manage and lease retail shopping centers owned through joint ventures or by third parties.

We review operating and financial data for each property on an individual basis; therefore each of our individual properties is a separate operating segment. We have aggregated our operating segments in six reportable segments based primarily upon our method of internal reporting which classifies our operations by geographical area. Our reportable segments by geographical area are as follows: (1) South Florida – including Miami-Dade, Broward and Palm Beach Counties; (2) North Florida – including all of Florida north of Palm Beach County; (3) Southeast - including Georgia, Louisiana, Alabama, Mississippi, North Carolina, South Carolina and Virginia; (4) Northeast – including Connecticut, Maryland, Massachusetts and New York; (5) West Coast – including California and Arizona; and (6) Other/Non-retail – which comprises our non-retail assets. Our segments as reported in this Annual Report on Form 10-K for the year ended December 31, 2012 are not consistent with our segments as reported in our Annual Report on Form 10-K for the year ended December 31, 2011. We have divided our previously combined North Florida and Southeast region into two separate regions in this Annual Report on Form 10-K for the period ended December 31, 2012, as a result of a change in management responsibilities for the North Florida region during the first quarter of 2012 and corresponding changes in our internal reporting. These changes have been reflected in our segment disclosures for all periods presented herein.

Concentration of Credit Risk

A concentration of credit risk arises in our business when a national or regionally based tenant occupies a substantial amount of space in multiple properties owned by us. In that event, if the tenant suffers a significant downturn in its business, it may become unable to make its contractual rent payments to us, exposing us to potential losses in rental revenue, expense recoveries, and percentage rent. Further, the impact may be magnified if the tenant is renting space in multiple locations. Generally, we do not obtain security from our nationally-based or regionally-based tenants in support of their lease obligations to us. We regularly monitor our tenant base to assess potential concentrations of credit risk. As of December 31, 2012, Publix Super Markets was our largest tenant and accounted for approximately 1.8 million square feet, or approximately 9.9% of our GLA, and approximately $14.5 million, or 5.7%, of our annual minimum rent. As of December 31, 2012, we had outstanding receivables from Publix Super Markets of approximately $527,000. No other tenant accounted for more than 5.0% of our annual minimum rent.

Recent Accounting Pronouncements

In May 2011, the FASB issued Accounting Standards Update (“ASU”) 2011-04, "Fair Value Measurement (Topic 820): Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and International Financial Reporting Standards ("IFRSs")." The guidance under ASU 2011-04 amends certain accounting and disclosure requirements related to fair value measurements to ensure that fair value has the same meaning in U.S. GAAP and in IFRS and that their respective fair value measurement and disclosure requirements are the same. This guidance contains certain updates to the measurement guidance as well as enhanced disclosure requirements. The most significant change in disclosures is an expansion of the information required for “Level 3” measurements including enhanced disclosure for: (1) the valuation processes used by the reporting entity and (2) the sensitivity of the fair value measurement to changes in unobservable inputs and the interrelationships between those unobservable inputs, if any. This guidance is effective for interim and annual periods beginning on or after December 15, 2011. We have incorporated the required disclosures where deemed applicable and the adoption and implementation of this ASU did not have a material impact on our results of operations, financial condition or cash flows.

In June 2011, the FASB issued ASU No. 2011-05, “Presentation of Comprehensive Income” which revises the manner in which companies present comprehensive income. Under ASU No. 2011-05, companies may present comprehensive income, which is net income adjusted for the components of other comprehensive income, either in a single continuous statement of comprehensive income or by using two separate but consecutive statements. Regardless of the alternative chosen, companies must display adjustments for items reclassified from other comprehensive income into net income within the presentation of both net income and other comprehensive income. ASU 2011-05 is effective for interim and annual periods beginning after December 15, 2011, on a retrospective basis. In December 2011, the FASB issued ASU No. 2011-12,”Deferral of the Effective Date for Amendments to the Presentation of Reclassifications of Items Out of Accumulated Other Comprehensive Income in ASU 2011-05.” ASU 2011-12 defers the requirement that companies present reclassification adjustments for each component of accumulated other comprehensive income in both net income and other comprehensive income on the face of the financial statements. Reclassifications out of accumulated other comprehensive income are to be presented either on the face of the financial statement in which other comprehensive income is presented or disclosed in the notes to the financial statements. Reclassification adjustments into net income need not be presented during the deferral period. This action does not affect the requirement to present items of net income, other comprehensive income and total comprehensive income in a single continuous or two consecutive statements. The effective date for the deferred portion has not yet been determined. When adopted, the deferred portion of the guidance is not expected to materially impact our consolidated financial statements. We have incorporated the required disclosures where deemed applicable and the adoption and implementation of this ASU did not have an impact on our results of operations, financial condition or cash flows.

In September 2011, the FASB issued ASU No. 2011-08, “Testing Goodwill for Impairment(the revised standard)”. Under ASU No. 2011-08 companies have the option to perform a qualitative assessment that may allow them to skip the annual two-step test and reduce costs. The guidance is effective for fiscal years beginning after December 15, 2011. The adoption and implementation of this ASU did not have a material impact on our results of operations, financial condition or cash flows.

In December 2011, the FASB issued ASU No. 2011-10, “Derecognition of in Substance Real Estate”. The amendments in ASU 2011-10 resolve the diversity in practice about whether the guidance in Subtopic 360-20 applies to the derecognition of in substance real estate when the parent ceases to have a controlling financial interest (as described in Subtopic 810-10) in a subsidiary that is in substance real estate because of a default by the subsidiary on its nonrecourse debt. The guidance emphasizes that the accounting for such transactions is based on their substance rather than their form. The amendments in the ASU should be applied on a prospective basis to deconsolidation events occurring after the effective date. Prior periods should not be adjusted even if the reporting entity has continuing involvement with previously derecognized in substance real estate entities. The guidance is effective for fiscal years, and interim periods within those years, beginning on or after June 15, 2012. The adoption and implementation of this ASU did not have a material impact on our results of operations, financial condition or cash flows.

In December 2011, the FASB issued ASU No. 2011-11, “Disclosures about Offsetting Assets and Liabilities”. Under ASU 2011-11 disclosures are required to provide information to help reconcile differences in the offsetting requirements under U.S. GAAP and IFRS. The new disclosure requirements mandate that entities disclose both gross and net information about instruments and transactions eligible for offset in the statement of financial position as well as instruments and transactions subject to an agreement similar to a master netting arrangement. In addition, the ASU requires disclosure of collateral received and posted in connection with master netting agreements or similar arrangements. The guidance is effective for fiscal years, and interim periods within those years, beginning on or after January 1, 2013. We do not believe that the adoption of this ASU will have a material impact on our results of operations, financial condition or cash flows.

In July 2012, the FASB issued Accounting Standards Update No. 2012-02, “Testing Indefinite-Lived Intangible Assets for Impairment (the revised standard)". The revised standard is intended to reduce the cost and complexity of testing indefinite-lived intangible assets, other than goodwill, for impairment. It allows companies to perform a "qualitative" assessment to determine whether further impairment testing of indefinite-lived intangible assets is necessary, similar in approach to the goodwill impairment test. The revised standard is effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012, and earlier adoption is permitted. We do not believe that the adoption of this ASU will have a material impact on our results of operations, financial condition or cash flows.

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Borrowings

12 Months Ended

Dec. 31, 2012

Debt Disclosure [Abstract]

Borrowings

Borrowings

Mortgage Notes Payable

The following table is a summary of our mortgage notes payable balances in the consolidated balance sheets:

	December 31,
	2012			2011
	(In thousands)
Mortgage Notes Payable
Fixed rate mortgage loans	$	439,156		$	459,677
Unamortized premium, net	9,064			10,236
Total	$	448,220		$	469,913
Weighted-average interest rate of fixed rate mortgage notes	6.09		%	6.16		%

Included in liabilities associated with assets held for sale are mortgage notes payable of $2.8 million and $39.4 million at December 31, 2012 and 2011, respectively, with weighted average interest rates of 6.85% and 5.91%, respectively.

During the years ended December 31, 2012 and 2011, we prepaid $57.0 million and $146.8 million (excluding the Serramonte mortgage that was repaid at the closing of the CapCo transaction) in mortgage loans with a weighted-average interest rate of 6.61% and 6.33%, respectively.

In connection with acquisitions completed during the year ended December 31, 2012, we assumed two mortgages with a total principal balance of $35.5 million. The $16.7 million mortgage assumed in connection with the 1225-1239 Second Avenue acquisition matures on June 1, 2016 and bears interest at 6.33%. The $18.8 million mortgage assumed in connection with the Darinor Plaza acquisition matures on May 1, 2015 and bears interest at 5.37%.

During the year ended December 31, 2011, in connection with our acquisition of CapCo, we assumed mortgage indebtedness of $172.0 million with a weighted average interest rate of 6.18% and maturity dates through November 15, 2019, excluding the mortgage loan on Serramonte which was repaid at acquisition. Additionally, in connection with our other acquisitions during 2011, we assumed mortgages with a total principal balance of approximately $121.2 million related to our acquisitions of Vons Circle Center, Culver Center, Danbury Green and Southbury Green. These mortgages mature between February 5, 2015 and October 10, 2028 with payments based on 25-year to 30-year amortization schedules at fixed interest rates between 5.20% and 5.85%.

Unsecured Senior Notes

Our outstanding unsecured senior notes payable in the consolidated balance sheets consisted of the following:

	December 31,
	2012			2011
	(In thousands)
Unsecured Senior Notes Payable
7.84% Senior Notes, due 1/23/12	$	—		$	10,000
6.25% Senior Notes, due 12/15/14	—			250,000
5.375% Senior Notes, due 10/15/15	107,505			107,505
6.0% Senior Notes, due 9/15/16	105,230			105,230
6.25% Senior Notes, due 1/15/17	101,403			101,403
6.0% Senior Notes, due 9/15/17	116,998			116,998
3.75% Senior Notes, due 11/15/22	300,000			—
Total Unsecured Senior Notes	731,136			691,136
Unamortized discount, net	(2,006		)	(2,340		)
Total	$	729,130		$	688,796
Weighted-average interest rate, net of discount adjustment	5.02		%	6.06		%

On October 25, 2012, we issued $300 million principal amount of unsecured senior notes at a fixed interest rate of 3.75%, maturing on November 15, 2022 (the "3.75% Notes"). The 3.75% Notes were offered to investors at a price of 99.591% with a yield to maturity of 3.799%. Interest is payable on the notes semi-annually in arrears on May 15 and November 15 of each year, commencing on May 15, 2013. The 3.75% Notes rank equally with all of our other unsecured and unsubordinated indebtedness and contain customary debt covenants that are consistent with our other unsecured senior notes. The 3.75% Notes are also guaranteed by our subsidiaries that have guaranteed our other unsecured senior notes.

On October 25, 2012, we also called for redemption of all of our $250 million6.25% unsecured senior notes which were scheduled to mature on December 15, 2014 (the "6.25% Notes") pursuant to the terms of an optional redemption feature within the 6.25% Notes, and, on November 26, 2012, we redeemed the 6.25% Notes at a redemption price equal to the principal amount of the notes and a required make-whole premium of $27.8 million utilizing proceeds from the 3.75% Notes. In connection with the redemption, we recognized a loss on early extinguishment of debt of $29.6 million, which was comprised of the aforementioned make-whole premium and deferred fees and costs associated with the 6.25% Notes.

On January 23, 2012, we repaid the $10.0 million principal amount of 7.84% unsecured senior notes.

The indentures under which our unsecured senior notes were issued have several covenants that limit our ability to incur debt, require us to maintain an unencumbered asset to unencumbered debt ratio above a specified level and limit our ability to consolidate, sell, lease, or convey substantially all of our assets to, or merge with, any other entity. These notes have also been guaranteed by many of our subsidiaries.

Unsecured Revolving Credit Facilities

Our primary credit facility is with a syndicate of banks and provides $575.0 million of unsecured revolving credit. The facility bears interest at applicable LIBOR plus a margin of 1.00% to 1.85%, depending on the credit ratings of our unsecured senior notes. The facility also includes a facility fee applicable to the aggregate lending commitments thereunder which varies from 0.175% to 0.45% per annum depending on the credit ratings of our unsecured senior notes. At December 31, 2012, the interest rate margin applicable to amounts outstanding under the facility was 1.55% per annum and the facility fee was 0.30% per annum. The facility includes a competitive bid option which allows us to conduct auctions among the participating banks for borrowings at any one time outstanding up to 50% of the lender commitments, a $50.0 million swing line facility for short term borrowings, a $50.0 million letter of credit commitment and a $61.3 million multicurrency subfacility. The facility expires on September 30, 2015, with a one year extension at our option. The facility contains a number of customary restrictions on our business, including restrictions on our ability to make certain investments, and also includes various financial covenants, including a minimum tangible net worth requirement, maximum unencumbered and total leverage ratios, a maximum secured indebtedness ratio, a minimum fixed charge coverage ratio and a minimum unencumbered interest coverage ratio. The facility also contains customary affirmative covenants and events of default, including a cross default to our other material indebtedness and the occurrence of a change of control. If a material default under the facility were to arise, our ability to pay dividends is limited to the amount necessary to maintain our status as a REIT unless the default is a payment default or bankruptcy event in which case we are prohibited from paying any dividends. As of December 31, 2012, we had drawn approximately $172.0 million against the facility, which bore interest at 1.77% per annum. As of December 31, 2011, we had drawn $138.0 million against the facility, which bore interest at 1.85% per annum. As a result of Moody's upgrade of our credit rating in December 2012, effective January 1, 2013, the interest rate margin applicable to amounts outstanding under the facility is 1.25% per annum and the facility fee is 0.25% per annum.

We also have a $15.0 million unsecured credit facility with City National Bank of Florida, for which there was no outstanding balance as of December 31, 2012 and 2011. The facility bears interest at LIBOR plus 1.55% per annum and expires August 7, 2013.

As of December 31, 2012, giving effect to the financial covenants applicable to these credit facilities, the maximum available to us thereunder was approximately $496.8 million, net of outstanding letters of credit.

Term Loan and Interest Rate Swaps

On February 13, 2012, we entered into an unsecured term loan in the principal amount of $200.0 million with a maturity date of February 13, 2019. On July 12, 2012, we increased the principal amount of the term loan to $250.0 million through the exercise of an accordion feature. The term loan bears interest, at our option, at the base rate or one month, two month, three month or six month LIBOR, in each case plus a margin of 1.50% to 2.35% depending on the credit ratings of our unsecured senior notes, which margin was 1.90% at December 31, 2012. The loan agreement also calls for other customary fees and charges. The loan agreement contains customary restrictions on our business, financial and affirmative covenants, events of default and remedies which are generally the same as those provided in our $575.0 million unsecured revolving credit facility. We entered into interest rate swaps to convert the LIBOR rate applicable to the term loan to a fixed interest rate, providing an effective fixed interest rate under the loan agreement of 3.46% per annum for the initial $200.0 million loan and 3.00% for the additional $50.0 million loan as of December 31, 2012. The swaps are designated and qualified as cash flow hedges and have been recorded at fair value. The swap agreements mature on February 13, 2019. The fair value of our interest rate swaps at December 31, 2012 was a liability of $7.0 million and is included in accounts payable and accrued expenses on our consolidated balance sheet at such date. As a result of Moody's upgrade of our credit rating in December 2012, effective January 1, 2013, the effective fixed interest rate for the initial $200.0 million loan became 3.26% per annum and the effective fixed interest rate for the additional $50.0 million loan became 2.80% per annum.

Principal maturities of the notes payable are as follows:

Year Ending December 31,	Amount
	(In thousands)
2013	$	38,013
2014	14,184
2015	341,539
2016	233,353
2017	288,981
Thereafter	676,222
Total	$	1,592,292

Interest costs incurred, excluding amortization and accretion of discount and premium, were $80.5 million, $86.6 million and $77.3 million in the years ended December 31, 2012, 2011 and 2010, respectively, of which $4.7 million, $2.3 million and $2.2 million, respectively, were capitalized.

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Variable Interest Entities

12 Months Ended

Dec. 31, 2012

Variable Interest Entities [Abstract]

Vairable Interest Entities

Variable Interest Entities

Included within our consolidated operating properties at December 31, 2012 are two consolidated joint venture properties, Danbury Green and Southbury Green, and one property owned by a qualified intermediary, Clocktower Plaza Shopping Center, that are held through VIEs and for which we are the primary beneficiary. These entities have been established to own and operate real estate property. Our involvement with these entities is through our majority ownership of the properties. These entities were deemed VIEs primarily because they may not have sufficient equity at risk for them to finance their activities without additional subordinated financial support from other parties. Specifically, with respect to the VIEs holding the Danbury Green and Southbury Green properties, we determined that the interests held by the other equity investors were not equity investments at risk pursuant to the Consolidation Topic of the FASB ASC and also gave consideration to the maturity of certain debt obligations of the entities. Additionally, as it relates to the VIE holding Clocktower Plaza Shopping Center, we also determined that the equity investors, whose investment was not sufficient for the entity to finance its activities, do not have the characteristics of a controlling financial interest. We determined that we are the primary beneficiary of these VIEs as a result of our having the power to direct the activities that most significantly impact their economic performance and the obligation to absorb losses, as well as the right to receive benefits, that could be potentially significant to the VIEs.

At December 31, 2012 and 2011, the total assets of the VIEs that own Danbury Green and Southbury Green were approximately $111.1 million and $109.2 million, respectively. These assets can only be used to settle obligations of the VIEs. At December 31, 2012 and 2011, the liabilities of the VIEs that own Danbury Green and Southbury Green of $63.0 million and $61.9 million, respectively, include third party liabilities for which the creditors or beneficial interest holders do not have recourse against us other than for customary environmental indemnifications and non-recourse carve-outs. The classification of these assets is primarily within real estate and the classification of liabilities is primarily within mortgages payable and redeemable and nonredeemable noncontrolling interests in the consolidated balance sheets as further discussed in Note 17.

Included within our consolidated operating properties at December 31, 2011, in addition to Danbury Green and Southbury Green, was one consolidated property, 90-30 Metropolitan Avenue, which was held at the time by a qualified intermediary. Legal ownership of 90-30 Metropolitan Avenue was transferred to us by the qualified intermediary during the first quarter of 2012, and as such, it is no longer considered a VIE.

At December 31, 2012 and 2011, the total assets of these VIEs were approximately $167.4 million and $138.2 million, respectively, and the total liabilities were approximately $63.5 million and $62.4 million, respectively, including non-recourse mortgage debt of $45.7 million at both December 31, 2012 and 2011.

The majority of the operations of these VIEs are funded with cash flows generated from the properties. We have not provided financial support to any of these VIEs that we were not previously contractually required to provide; our contractual commitments consist primarily of funding any capital expenditures, including tenant improvements, which are deemed necessary to continue to operate the entity and any operating cash shortfalls that the entity may experience.

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Goodwill (Goodwill By Segment) (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Goodwill [Line Items]
Goodwill	$ 7,426	$ 7,957	$ 8,925
South Florida [Member]
Goodwill [Line Items]
Goodwill	2,028	2,028
North Florida [Member]
Goodwill [Line Items]
Goodwill	1,546	1,546
Southeast [Member]
Goodwill [Line Items]
Goodwill	$ 3,852	$ 4,383

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Property Dispositions

12 Months Ended

Dec. 31, 2012

Dispositions [Abstract]

Dispositions

Property Dispositions

The following table provides a summary of disposition activity during the year ended December 31, 2012:

Date Sold	Property Name	City	State	Square Feet/Acres		Gross Sales Price
						(In thousands)
Income producing property sold
December 7, 2012	Woodruff	Greenville	SC	68,055		$	9,100
March 30, 2012	Laurel Walk Apartments	Charlotte	NC	106,480		6,000
March 30, 2012	Commerce Crossing	Commerce	GA	100,668		600
March 15, 2012	222 Sutter Street	San Francisco	CA	128,595		53,829		(1)
						69,529
Outparcels sold
February 27, 2012	Market Place - IHOP outparcel	Norcross	GA	0.35	(2)	885
January 20, 2012	Grand Marche - ground lease	Lafayette Parish	LA	200,585		775
						1,660
Total						$	71,189

^{______________________________________________} 

⁽¹⁾ Includes $27.2 million of mortgage debt repaid by the buyer at closing.

⁽²⁾ In acres.

As part of our strategy to upgrade and diversify our portfolio and recycle our existing capital, we are currently evaluating opportunities to sell 26 non-core properties, of which nine properties are under contract for an estimated gross sales price of approximately $61.0 million. Furthermore, it is likely that additional assets will be evaluated for disposition in future periods as part of our capital recycling program. Although we have not committed to a disposition plan, we may consider disposing of such properties if pricing is deemed to be favorable. If the market values of these assets are below their carrying values, it is possible that the disposition of these assets could result in impairments or other losses. Depending on the prevailing market conditions and historical carrying values, these impairments and losses could be material.

Discontinued Operations

We report as discontinued operations, properties held-for-sale and operating properties sold in the current period. The results of these discontinued operations are included in a separate component of income/loss on the consolidated statements of operations under the caption discontinued operations. This reporting has resulted in certain reclassifications of financial statement amounts.

As of December 31, 2012, we classified 12 properties located in our Southeast and North Florida regions as held for sale. The operations of these properties are included in discontinued operations in the accompanying consolidated financial statements for all the periods presented; and the related assets and liabilities are presented as held for sale in our consolidated balance sheets at December 31, 2012 and 2011. Subsequent to year end, we closed on the sale of eight of these properties for a purchase price of $81.3 million and concurrently prepaid $2.8 million in mortgage loans.

On December 20, 2011, we sold 36 shopping centers predominantly located in the Atlanta, Tampa and Orlando markets to an affiliate of Blackstone Real Estate Partners VII (“Blackstone”) for a total sales price of $473.1 million, inclusive of the assumption of mortgage loans having an aggregate principal balance of approximately $155.7 million (as adjusted for subsequent payoffs of $9.9 million) as of the date of sale. The operations of these properties and the related assets and liabilities are included in discontinued operations in the accompanying consolidated financial statements for the years ended December 31, 2011 and 2010. We recognized an aggregate impairment loss of $33.8 million related to this sale.

The components of income and expense relating to discontinued operations for the years ended December 31, 2012, 2011 and 2010 are shown below. These include the results of operations through the date of each respective sale for properties sold during 2012, 2011 and 2010 and the operations for the applicable period for those assets classified as held for sale as of December 31, 2012:

	Year Ended December 31,
	2012			2011			2010
	(In thousands)
Rental revenue	$	11,894		$	71,656		$	67,350
Expenses:
Property operating expenses	3,521			20,222			18,237
Rental property depreciation and amortization	2,305			14,881			19,676
General and administrative expenses	13			57			55
Operations of income producing property	6,055			36,496			29,382
Interest expense	(993		)	(16,460		)	(15,188		)
Equity in income of unconsolidated joint ventures	—			704			—
Gain on disposal of income producing properties	16,588			4,407			2,257
Impairment loss on income producing properties	(6,669		)	(38,178		)	(223		)
Loss on extinguishment of debt	(1,449		)	(221		)	30
Income tax benefit	—			29,575			2,041
Other income (loss)	448			(4		)	(26		)
Income from discontinued operations	13,980			16,319			18,273
Net loss attributable to noncontrolling interests - discontinued operations	—			33			439
Income from discontinued operations attributable to Equity One, Inc.	$	13,980		$	16,352		$	18,712

During the years ended December 31, 2012, 2011 and 2010, we recognized impairment loss on discontinued operations of $6.7 million, $38.2 million and $223,000, respectively. See Note 7 for further discussion of these impairment losses.

During the year ended December 31, 2011, we recognized a tax benefit of $29.6 million primarily attributable to a reversal of a deferred tax liability associated with properties sold to an affiliate of Blackstone. The deferred tax liability was initially established upon our acquisition of DIM in 2009. See Note 16 for further discussion of the DIM tax benefit.

Interest expense included in discontinued operations above includes interest on debt that is to be assumed by the buyer or interest on debt that is required to be repaid as a result of the disposal transaction.

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Future Minimum Rental Income (Tables)

12 Months Ended

Dec. 31, 2012

Operating Leases, Income Statement, Lease Revenue [Abstract]

Future Minimum Rental Income

Future minimum rents under non-cancelable operating leases as of December 31, 2012, excluding tenant reimbursements of operating expenses and percentage rent based on tenants’ sales volume are as follows:

Year Ending December 31,	Amount
	(In thousands)
2013	$	238,953
2014	208,145
2015	176,780
2016	139,855
2017	108,167
Thereafter	454,194
Total	$	1,326,094

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Share-Based Payment Plans (Summary of Share-Based Compensation Expense) (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Restricted stock expense	$ 6,060	$ 5,692	$ 4,194
Stock option expense	1,040	1,454	2,347
Employee stock purchase plan discount	13	14	10
Total equity-based expense	7,113	7,160	6,551
Restricted stock classified as liability	51	103	0
Total expense	7,164	7,263	6,551
Less amount capitalized	(301)	(271)	(54)
Net share-based compensation expense	$ 6,863	$ 6,992	$ 6,497

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Acquisitions

12 Months Ended

Dec. 31, 2012

Business Combinations [Abstract]

Acquisitions

Acquisitions

The following table provides a summary of acquisition activity during the year ended December 31, 2012:

Date Purchased	Property Name	City	State	Square Feet/Acres		Purchase Price		Mortgage Assumed
						(In thousands)
December 27, 2012	200 Potrero (1)	San Francisco	CA	30,500		$	5,750	$	—
October 5, 2012	1225-1239 Second Avenue (1)	New York	NY	18,474		27,500		16,686
October 1, 2012	Broadway Plaza - land outparcel	Bronx	NY	0.17	(3)	2,000		—
September 28, 2012	Clocktower Plaza Shopping Center (1)	Queens	NY	78,820		56,000		—
August 28, 2012	Darinor Plaza (1) (2)	Norwalk	CT	152,025		36,000		18,765
June 8, 2012	Broadway Plaza - land parcel	Bronx	NY	1.83	(3)	7,500		—
March 1, 2012	Potrero Center	San Francisco	CA	226,699		110,750		—
March 1, 2012	Compo Acres Shopping Center	Westport	CT	43,107		30,300		—
March 1, 2012	Post Road Plaza	Darien	CT	20,005		12,700		—
Total						$	288,500	$	35,451

^{______________________________________________} 

⁽¹⁾ The purchase price has been preliminarily allocated to real estate assets acquired and liabilities assumed, as applicable, in accordance with our accounting policies for business combinations. The purchase price and related accounting will be finalized after our valuation studies are complete.

⁽²⁾ Property is subject to a ground lease which expires in 2076.

⁽³⁾ In acres.

During the year ended December 31, 2012, we did not recognize any material measurement period adjustments related to prior or current year acquisitions.

In conjunction with the acquisitions of Clocktower Plaza Shopping Center and Compo Acres Shopping Center, we entered into reverse Section 1031 like-kind exchange agreements with third party intermediaries, which are for a maximum of 180 days and allow us, for tax purposes, to defer gains on the sale of other properties identified and sold within this period. Until the earlier of termination of the exchange agreements or 180 days after the respective acquisition dates, the third party intermediaries are the legal owner of each property; however, we control the activities that most significantly impact each property and retain all of the economic benefits and risks associated with each property. Therefore, at the date of acquisition, we determined that we were the primary beneficiary of these VIEs and consolidated the properties and their operations as of the respective acquisition dates noted above. Legal ownership for Compo Acres Shopping Center was transferred to us by the qualified intermediary during the first quarter of 2012.

During the year ended December 31, 2011, we acquired nine shopping centers for an aggregate purchase price of $419.2 million, including mortgages assumed of approximately $121.2 million.

During the years ended December 31, 2012, 2011 and 2010 , excluding costs related to C&C (US) No. 1, Inc. ("CapCo") and DIM Vastgoed, N.V. (“DIM”), we expensed approximately $3.4 million, $7.0 million and $1.4 million, respectively, of transaction-related costs in connection with completed or pending property acquisitions which are included in general and administrative costs in the consolidated statements of operations. The purchase price related to the 2012 acquisitions listed in the above table was funded by the use of our line of credit, cash on hand, and proceeds from our term loan, the equity offering and dispositions. In connection with the 2012 acquisitions, we assumed mortgages with a total principal balance of $35.5 million, which mature between May 1, 2015 and June 1, 2016, and bear interest at rates between 5.37% and 6.33%.

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Acquisition Of A Controlling Interest In CapCo

12 Months Ended

Dec. 31, 2012

Acquisition Of A Controlling Interest In CapCo [Abstract]

Acquisition Of A Controlling Interest In Capco

Acquisition of a Controlling Interest in CapCo

On January 4, 2011, we acquired a controlling ownership interest in CapCo, through a joint venture with Liberty International Holdings Limited, or LIH. At the time of the acquisition, CapCo, which was previously wholly-owned by LIH, owned a portfolio of 13 properties in California totaling approximately 2.6 million square feet of GLA, including Serramonte Shopping Center in Daly City, Plaza Escuela in Walnut Creek, The Willows Shopping Center in Concord, 222 Sutter Street in San Francisco, and The Marketplace Shopping Center in Davis. LIH is a subsidiary of Capital Shopping Centres Group PLC, a United Kingdom real estate investment trust. The results of CapCo’s operations have been included in our consolidated financial statements from the date of acquisition.

At the closing of the transaction, LIH contributed all of the outstanding shares of CapCo’s common stock to the joint venture in exchange for Class A Shares in the joint venture, representing an approximate 22% interest in the joint venture and we contributed a shared appreciation promissory note to the joint venture in the amount of $600.0 million and an additional $84.3 million in exchange for an approximate 78% interest in the joint venture, which consists of approximately 70% of the Class A joint venture shares and all of the Class B joint venture shares. The initial Class B joint venture shares are entitled to a preferred return of 1.5% per quarter. The actual payment of such amounts is limited to the extent that there is available cash remaining in any given period (subsequent to the payment of dividend equivalents to the holders of the Class A joint venture shares) and a decision to make such a distribution by the board of the joint venture. Any remaining available cash after the preferred return is paid in a given period may be distributed, in an elective distribution, among the Class A and Class B joint venture shares, with 83.333% attributable to the Class B joint venture shares and 16.667% to the Class A joint venture shares on a pro-rata basis among the holders of such joint venture shares. Based on the respective ownership percentages held by Equity One and LIH, this allocation provides for, to the extent distributions in excess of available cash are distributed to the joint venture partners in the attribution of approximately 95% of such residual amounts to Equity One and the remaining 5% to LIH.

In addition, at the closing, LIH transferred and assigned to us an outstanding promissory note of CapCo in the amount of $67.0 million in exchange for approximately 4.1 million shares of our common stock and one share of our newly-established Class A common stock, that (i) was convertible into 10,000 shares of our common stock in certain circumstances and (ii) subject to certain limitations, entitled LIH to voting rights with respect to a number of shares of our common stock determined with reference to the number of joint venture shares held by LIH from time to time. Effective June 29, 2011, the one share of Class A common stock was converted in accordance with its terms into 10,000 shares of our common stock. In March 2012, LIH sold the shares of our common stock issued in exchange for the CapCo promissory note and upon conversion of the Class A common share in an underwritten public offering.

The joint venture shares received by LIH are redeemable for cash or, solely at our option, our common stock on a one-for-one basis, subject to certain adjustments. LIH’s ability to participate in earnings of CapCo is limited to their right to receive distributions payable on their joint venture shares. These non-elective distributions are designed to mirror dividends paid on our common stock. As such, earnings attributable to the noncontrolling interest as reflected in our consolidated statement of operations will be limited to distributions made to LIH on its joint venture shares. Distributions to LIH for the years ended December 31, 2012 and 2011 were $10.0 million and $9.5 million, respectively, which were equivalent to the per share dividends declared on our common stock, adjusted for certain prorations as stipulated by the terms of the transaction.

In connection with the CapCo transaction, we also executed an Equityholders’ Agreement, among us, Capital Shopping Centers plc (“CSC”), LIH, Gazit-Globe Ltd. (“Gazit”), MGN (USA) Inc., Gazit (1995), Inc., MGN America, LLC, Silver Maple (2001), Inc. and Ficus, Inc. Pursuant to the Equityholders’ Agreement, we increased the size of our board of directors by one seat, effective January 4, 2011, and appointed David Fischel, a designee of CSC, to the board. Subject to its continuing to hold a minimum number of shares of our common stock (on a fully diluted basis), CSC has the right to nominate one candidate for election to our board of directors at each annual meeting of our stockholders at which directors are elected.

Also in connection with the CapCo transaction, we amended our charter to, among other things, (i) add foreign ownership limits and (ii) modify the existing ownership limits for individuals (as defined for purposes of certain provisions of the Code). The foreign ownership limits provide that, subject to certain exceptions, a foreign person may not acquire, beneficially or constructively, any shares of our capital stock, if immediately following the acquisition of such shares, the fair market value of the shares of our capital stock owned, directly and indirectly, by all foreign persons (other than LIH and its affiliates) would comprise 29% or more of the fair market value of the issued and outstanding shares of our capital stock.

The ownership limits for individuals in our charter were amended to provide that, subject to exceptions, no person (as such term is defined in our charter), other than an individual (who will be subject to the more restrictive limits discussed below), may own, or be deemed to own, directly and by virtue of certain constructive ownership provisions of the Code, more than 9.9% in value of the outstanding shares of our capital stock in the aggregate or more than 9.9%, in value or number of shares, whichever is more restrictive, of the outstanding shares of our common stock, and no individual may own, or be deemed to own, directly and by virtue of certain constructive ownership provisions of the Code, more than 5.0% in value of the outstanding shares of our capital stock in the aggregate or more than 5.0%, in value or number of shares, whichever is more restrictive, of the outstanding shares of our common stock.

Under our charter, the board of directors may increase the ownership limits. In addition, our board of directors, in its sole discretion, may exempt a person from the ownership limits and may establish a new limit applicable to that person if that person submits to the board of directors certain representations and undertakings, including representations that demonstrate, to the reasonable satisfaction of the board, that such ownership would not jeopardize our status as a REIT under the Code.

The fair value of the approximately 4.1 million shares of common stock transferred of $73.7 million was based on the closing market price of our common stock on the closing date of $18.15 per share.

We expensed approximately $7.2 million of acquisition-related costs in connection with the CapCo transaction of which $1.9 million was recorded in general and administrative expenses in the accompanying consolidated statements of operations for the year ended December 31, 2011, and approximately $5.3 million was recorded in general and administrative expenses for the year ended December 31, 2010.

As of the acquisition date, we classified three properties with fair values less costs to sell totaling approximately $36.3 million as held for sale. Results of these held for sale properties are included in “discontinued operations” on the consolidated statement of operations for the year ended December 31, 2011.

Simultaneously with the closing of the transaction, we contributed an additional $84.3 million to the joint venture in exchange for additional Class B joint venture shares, which amount was used to repay the remaining principal amount due on the mortgage loan secured by the Serramonte Shopping Center. Although the mortgage loan was paid off at closing, the liability is reflected in the fair value of net assets acquired since the obligation became ours upon closing.

The fair value of the noncontrolling interest in CapCo was estimated by reference to the amount that LIH would be entitled to receive upon a redemption of its Class A joint venture shares, which is equal to the value of the same number of shares of Equity One common stock plus any accrued but unpaid quarterly distributions with respect to the Class A joint venture shares. As a result, the fair value of the joint venture shares held by LIH was estimated at $18.15 per share, or $206.1 million in aggregate, equal to the value of Equity One common stock that LIH would have received had it redeemed its Class A joint venture shares on January 4, 2011.

The fair value of the identifiable assets acquired and liabilities assumed exceeded the sum of the fair value of the consideration transferred and the fair value of the noncontrolling interest. The fair value of the assets acquired significantly increased from the date the original purchase terms were agreed upon until the closing of the transaction on January 4, 2011. As a result, we recognized a gain of approximately $30.6 million, which is included in the line item entitled “gain on bargain purchase” in the consolidated statement of operations for the year ended December 31, 2011. The following table provides a reconciliation of the gain on bargain purchase (in thousands):

Fair value of net assets acquired	$	310,404
Fair value of consideration transferred	(73,698		)
Fair value of noncontrolling interest	(206,145		)
Gain on bargain purchase	$	30,561

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Impairment

12 Months Ended

Dec. 31, 2012

Asset Impairment Charges [Abstract]

Impairment

Impairment

The following table is a summary of the impairment loss recorded in the accompanying consolidated statements of operations:

	Year Ended December 31,
	2012		2011		2010
	(In thousands)
Goodwill	$	525	$	968	$	464
Land held for development	740		11,766		—
Properties held for use	21,507		6,424		—
Impairment loss recognized in continuing operations	22,772		19,158		464
Goodwill	—		1,416		223
Properties held for sale	6,669		36,762		—
Impairment loss recognized in discontinued operations	6,669		38,178		223
Total impairment loss	$	29,441	$	57,336	$	687

Goodwill

We perform annual, or more frequent in certain circumstances, impairment tests of our goodwill. We estimate the fair value of the reporting unit using discounted projected future cash flows. If the carrying value of the reporting unit exceeds its fair value, an impairment is recorded. As a result of our analysis, we recognized $525,000, $968,000 and $464,000 of impairment losses in continuing operations for the years ended December 31, 2012, 2011 and 2010, respectively, and we recognized goodwill impairment losses in discontinued operations of $1.4 million and $223,000 for the years ended December 31, 2011 and 2010, respectively. We did not recognize any impairment losses in discontinued operations for the year ended December 31, 2012.

Land Held for Development

We measure the recoverability of development projects by comparing the carrying amount to estimated future undiscounted cash flows. Impairment is recognized when the expected undiscounted cash flows for a development project are less than its carrying amount, at which time the property is written-down to fair value. During the years ended December 31, 2012 and 2011, we recognized $740,000 and $11.8 million, respectively, of impairment losses on certain development projects for which management’s development intentions changed regarding the future status of the projects and considering the increased likelihood that management may sell the land parcels prior to development. We did not recognize any impairment losses on development projects during the year ended December 31, 2010.

Properties Held for Use

We review properties held for use for impairment on a property by property basis when events or changes in circumstances indicate that the carrying value may not be recoverable in accordance with the Property, Plant, and Equipment Topic of the FASB ASC. Impairment is recognized on properties held for use when the expected undiscounted cash flows for a property are less than its carrying amount, at which time the property is written-down to fair value. During the years ended December 31, 2012 and 2011, we recognized $21.5 million and $6.4 million, respectively, of impairment losses on certain properties located in secondary markets for which our anticipated holding periods have been reconsidered. The analysis in 2012 and 2011 included an assessment of the plans for each property. Based on this analysis, it was determined that there is an the increased likelihood that holding periods for certain properties may be shorter than previously estimated due to management’s updated disposition plans. The expected cash flows considered the estimated holding period of the assets and the exit price in the event of disposition. We did not recognize an impairment loss on properties held for use during the year ended December 31, 2010.

Properties Held for Sale

Properties held for sale are recorded at the lower of the carrying amount or the expected sales price less costs to sell. The sale or disposal of a “component of an entity” is treated as discontinued operations. The operating properties sold by us typically meet the definition of a component of an entity and as such the revenue and expenses associated with sold properties are reclassified to discontinued operations for all periods presented. During the years ended December 31, 2012 and 2011, we recognized impairment losses of $6.7 million and $36.8 million, respectively, related to properties held for sale primarily based on sales contracts. We did not recognize an impairment loss on properties held for sale during the year ended December 31, 2010.

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Quarterly Financial Data (Tables)

12 Months Ended

Dec. 31, 2012

Quarterly Financial Data [Abstract]

Schedule Of Quarterly Financial Data

	First    Quarter (1)		Second    Quarter (1)		Third     Quarter (1)		Fourth        Quarter (1)(2)
2012	(in thousands, except per share data)
Total revenue	$	78,952	$	80,048	$	81,485	$	85,126
Income (loss) from continuing operations	$	8,374	$	5,301	$	11,825	$	(32,255	)
Net income (loss)	$	21,695	$	5,021	$	10,801	$	(30,292	)
Net income (loss) available to common shareholders	$	18,982	$	2,268	$	8,065	$	(32,792	)
Basic per share data
Income (loss) from continuing operations	$	0.05	$	0.02	$	0.08	$	(0.30	)
Net income (loss)	$	0.16	$	0.02	$	0.07	$	(0.28	)
Diluted per share data
Income (loss) from continuing operations	$	0.05	$	0.02	$	0.08	$	(0.30	)
Net income (loss)	$	0.16	$	0.02	$	0.07	$	(0.28	)

^{_______________________________________________} 

⁽¹⁾  Reclassified to reflect the reporting of discontinued operations. Note that the sum of the individual quarters per share data may not foot to the year-to-date totals due to the rounding of the individual calculations.

⁽²⁾  During the fourth quarter of 2012, we recognized a loss on early extinguishment of debt of $30.2 million (including $1.1 million in discontinued operations), primarily comprised of a make-whole premium and deferred fees and costs of $29.6 million associated with the redemption of all of our $250 million6.25% unsecured senior notes, which were scheduled to mature on December 15, 2014. Additionally, during the fourth quarter of 2012, we recognized impairment losses of $18.8 million in continuing operations and $798,000 in discontinued operations. See Note 7 for further discussion of impairments.

	First Quarter (1)(2)		Second     Quarter (1)		Third         Quarter (1)(3)			Fourth      Quarter (1)
2011
Total revenue	$	68,220	$	70,681	$	68,350		$	72,957
Income (loss) from continuing operations	$	32,320	$	5,354	$	(8,216	)	$	(2,559	)
Net income (loss)	$	37,377	$	9,121	$	(2,209	)	$	(1,071	)
Net income (loss) available to common stockholders	$	34,994	$	6,986	$	(4,657	)	$	(3,702	)
Basic per share data
Income (loss) from continuing operations	$	0.28	$	0.03	$	(0.10	)	$	(0.05	)
Net income (loss)	$	0.33	$	0.06	$	(0.04	)	$	(0.04	)
Diluted per share data
Income from continuing operations	$	0.27	$	0.03	$	(0.10	)	$	(0.05	)
Net income (loss)	$	0.32	$	0.06	$	(0.04	)	$	(0.04	)

^{_______________________________________________} 

⁽¹⁾  Reclassified to reflect the reporting of discontinued operations. Note that the sum of the individual quarters per share data may not foot to the year-to-date totals due to the rounding of the individual calculations.

⁽²⁾  During the first quarter of 2011, we recognized a gain on bargain purchase of $30.6 million related to our CapCo acquisition.

⁽³⁾  During the fourth quarter of 2011, we identified and corrected an immaterial error related to the allocation of earnings between continuing and discontinued operations. Net loss from continuing operations for the third quarter was understated by $1.6 million, or $0.02 per basic and diluted share, and net income from discontinued operations was understated by $1.6 million, or $0.01 per basic and diluted share. Net loss per basic and diluted share were not affected. No other quarters were impacted by the reclassification of earnings between continuing and discontinued operations.

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Fair Value Measurements (Narrative) (Details) (USD $)	3 Months Ended	12 Months Ended
	Dec. 31, 2012 properties	Dec. 31, 2012 properties	Dec. 31, 2011	Dec. 31, 2010
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Change in valuation, interest rate swaps		$ (7,000,000)
Impairment of Real Estate		740,000	11,766,000	0
Impairment loss on income producing properties held for sale or sold	798,000	6,669,000	38,178,000	223,000
Number Of Properties Held For Sale	12	12
Impairment losses on certain properties located in secondary markets		21,507,000	6,424,000	0
Goodwill impairment losses		525,000	2,400,000	687,000
Term Loan [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Term loan notional amount	250,000,000	250,000,000
Term Loan And Interest Rate Swaps [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of interest rate swap	7,000,000	7,000,000
Properties Held For Sale Or Sold [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment loss on income producing properties held for sale or sold		$ 6,669,000	$ 36,762,000	$ 0
Related to Impairment Losses [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number Of Properties Held For Sale	4	4
Related to Impairment Losses [Member] | South Florida [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number Of Properties Held For Sale	1	1
Related to Impairment Losses [Member] | Southeast [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number Of Properties Held For Sale	3	3

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Other Assets (Composition of Other Assets) (Details) (USD $) In Thousands, unless otherwise specified			12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2012 Environmental Remediation Asset [Member]	Dec. 31, 2012 Other Assets [Member]	Dec. 31, 2011 Other Assets [Member]
Lease intangible assets, net				$ 130,681	$ 92,533
Leasing commissions, net				36,443	28,260
Prepaid expenses and other receivables			21,000	24,393	2,176
Straight-line rent receivable, net				20,937	17,101
Deferred financing costs, net				10,777	8,653
Deposits and mortgage escrow				5,231	34,554
Deferred tax asset	6,044	6,514		2,968	3,229
Furniture and fixtures, net				2,519	2,234
Total other assets	$ 233,949	$ 188,740		$ 233,949	$ 188,740
Prepaid expenses and other receivables, term			4 years

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Summary of Significant Accounting Policies (Narrative) (Details) (USD $)	12 Months Ended
	Dec. 31, 2012 sqft
Summary Of Significant Accounting Policies [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired	20.00%
Derivatives reclassified to interest expense	$ 3,100,000
Publix Super Markets [Member]
Summary Of Significant Accounting Policies [Line Items]
Largest tenant accounted gross leasable area, square feet	1,800,000
Largest tenant accounted gross leasable area, percentage of total area	9.90%
Annual minimum rent, gross leasable area	14,500,000
Percentage of annual minimum rent, gross leasable area	5.70%
Outstanding receivables	$ 527,000
Minimum [Member] | Publix Super Markets [Member]
Summary Of Significant Accounting Policies [Line Items]
Percentage of annual minimum rent, gross leasable area	5.00%

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Noncontrolling Interests (Effects On Equity Resulting From The Changes In Ownership Interest) (Details) (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended																12 Months Ended
	Dec. 31, 2012		Sep. 30, 2012		Jun. 30, 2012		Mar. 31, 2012		Dec. 31, 2011		Sep. 30, 2011		Jun. 30, 2011		Mar. 31, 2011		Dec. 31, 2012		Dec. 31, 2011		Dec. 31, 2010
Profit Loss Excluding Net Loss Attributable To Redeemable Noncontrolling Interest																	$ 6,385		$ 43,075		$ 24,419
Net income attributable to Equity One, Inc.	(32,792)	[1],[2]	8,065	[1]	2,268	[1]	18,982	[1]	(3,702)	[1]	(4,657)	[1],[3]	6,986	[1]	34,994	[1],[4]	(3,477)		33,621		25,112
Increase in our paid-in capital for purchases of 33,213, 2,637,488 and 5,367,817 DIM ordinary shares for the years ended December 2011, 2010 and 2009, respectively																		[5]
Net Transfers From Noncontrolling Interests
Purchases of ordinary shares																	0		33,213		2,637,488
DIM [Member]
Increase in our paid-in capital for purchases of 33,213, 2,637,488 and 5,367,817 DIM ordinary shares for the years ended December 2011, 2010 and 2009, respectively																				[5]	7,562	[5]
Net Transfers From Noncontrolling Interests																					7,562
Change from net income attributable to Equity One, Inc. and transfers from noncontrolling interest																	$ (3,477)		$ 33,621		$ 32,674

[1] Reclassified to reflect the reporting of discontinued operations. Note that the sum of the individual quarters per share data may not foot to the year-to-date totals due to the rounding of the individual calculations.

[2] During the fourth quarter of 2012, we recognized a loss on early extinguishment of debt of $30.2 million (including $1.1 million in discontinued operations), primarily comprised of a make-whole premium and deferred fees and costs of $29.6 million associated with the redemption of all of our $250 million 6.25% unsecured senior notes, which were scheduled to mature on December 15, 2014. Additionally, during the fourth quarter of 2012, we recognized impairment losses of $18.8 million in continuing operations and $798,000 in discontinued operations. See Note 7 for further discussion of impairments.

[3] During the fourth quarter of 2011, we identified and corrected an immaterial error related to the allocation of earnings between continuing and discontinued operations. Net loss from continuing operations for the third quarter was understated by $1.6 million, or $0.02 per basic and diluted share, and net income from discontinued operations was understated by $1.6 million, or $0.01 per basic and diluted share. Net loss per basic and diluted share were not affected. No other quarters were impacted by the reclassification of earnings between continuing and discontinued operations.

[4] During the first quarter of 2011, we recognized a gain on bargain purchase of $30.6 million related to our CapCo acquisition.

[5] For purchases of 33,213 and 2,637,488 DIM ordinary shares for the years ended December 31, 2011 and 2010, respectively.

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Condensed Consolidating Financial Information (Tables)

12 Months Ended

Dec. 31, 2012

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Schedule of Condensed Consolidating Balance Sheets

The following statements set forth consolidating financial information with respect to guarantors of our unsecured senior notes:

Condensed Consolidating Balance Sheet As of December 31, 2012	Equity One, Inc.			Combined Guarantor Subsidiaries			Non- Guarantor Subsidiaries		Eliminating Entries			Consolidated
	(In thousands)
ASSETS
Properties, net	$	264,506		$	1,338,620		$	1,403,243	$	(133	)	$	3,006,236
Investment in affiliates	1,228,310			—			—		(1,228,310		)	—
Other assets	354,460			79,369			855,396		(792,793		)	496,432
Total Assets	$	1,847,276		$	1,417,989		$	2,258,639	$	(2,021,236	)	$	3,502,668
LIABILITIES
Mortgage notes payable	$	—		$	57,979		$	381,177	$	—		$	439,156
Unsecured senior notes payable	731,136			—			—		—			731,136
Other notes payable	600,000			93,600			67,000		(760,600		)	—
Term loan	250,000			—			—		—			250,000
Unsecured revolving credit facilities	172,000			—			—		—			172,000
Unamortized/unaccreted (discount) premium on notes payable	(2,006		)	(151		)	9,215		—			7,058
Other liabilities	18,646			112,510			163,056		(21,249		)	272,963
Liabilities associated with properties held    for sale	3,057			268			—		—			3,325
Total Liabilities	1,772,833			264,206			620,448		(781,849		)	1,875,638
REDEEMABLE NONCONTROLLING    INTERESTS	—			—			—		22,551			22,551
EQUITY	74,443			1,153,783			1,638,191		(1,261,938		)	1,604,479
TOTAL LIABILITIES, REDEEMABLE    NONCONTROLLING INTERESTS    AND EQUITY	$	1,847,276		$	1,417,989		$	2,258,639	$	(2,021,236	)	$	3,502,668

Condensed Consolidating Balance Sheet As of December 31, 2011	Equity One, Inc.			Combined Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminating Entries			Consolidated
	(In thousands)
ASSETS
Properties, net	$	269,728		$	1,297,302	$	1,242,139	$	(46	)	$	2,809,123
Investment in affiliates	1,228,310			—		—		(1,228,310		)	—
Other assets	344,587			52,200		855,502		(838,841		)	413,448
Total Assets	$	1,842,625		$	1,349,502	$	2,097,641	$	(2,067,197	)	$	3,222,571
LIABILITIES
Mortgage notes payable	$	17,525		$	39,327	$	402,825	$	—		$	459,677
Unsecured senior notes payable	691,136			—		—		—			691,136
Other notes payable	600,000			93,600		67,000		(760,600		)	—
Unsecured revolving credit facilities	138,000			—		—		—			138,000
Unamortized/unaccreted (discount) premium on notes payable	(2,718		)	296		10,318		—			7,896
Other liabilities	20,362			102,146		145,883		(30,820		)	237,571
Liabilities associated with properties held    for sale	11,400			1,298		27,587		—			40,285
Total Liabilities	1,475,705			236,667		653,613		(791,420		)	1,574,565
REDEEMABLE NONCONTROLLING    INTERESTS	—			—		—		22,804			22,804
EQUITY	366,920			1,112,835		1,444,028		(1,298,581		)	1,625,202
TOTAL LIABILITIES, REDEEMABLE    NONCONTROLLING INTERESTS AND    EQUITY	$	1,842,625		$	1,349,502	$	2,097,641	$	(2,067,197	)	$	3,222,571

Schedule of Condensed Consolidating Statements of Comprehensive Income

Condensed Consolidating Statement of Comprehensive (Loss) Income for the year ended December 31, 2012	Equity One Inc.			Combined Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminating Entries			Consolidated
	(In thousands)
Total revenue	$	33,189		$	156,774		$	136,036		$	(388	)	$	325,611
Equity in subsidiaries' earnings	115,148			—			—			(115,148		)	—
Total costs and expenses	48,931			83,820			83,997			(623		)	216,125
INCOME BEFORE OTHER INCOME AND EXPENSE, TAX AND DISCONTINUED OPERATIONS	99,406			72,954			52,039			(114,913		)	109,486
Other income and expenses	(103,061		)	(19,219		)	4,402			(866		)	(118,744		)
(LOSS) INCOME FROM CONTINUING    OPERATIONS BEFORE TAX AND    DISCONTINUED OPERATIONS	(3,655		)	53,735			56,441			(115,779		)	(9,258		)
Income tax (expense) benefit of taxable REIT    subsidiaries	—			(262		)	2,765			—			2,503
(LOSS) INCOME FROM CONTINUING    OPERATIONS	(3,655		)	53,473			59,206			(115,779		)	(6,755		)
Income (loss) from discontinued operations	636			(1,226		)	14,188			382			13,980
NET (LOSS) INCOME	(3,019		)	52,247			73,394			(115,397		)	7,225
Other comprehensive (loss) income	(6,889		)	—			458			—			(6,431		)
COMPREHENSIVE (LOSS) INCOME	(9,908		)	52,247			73,852			(115,397		)	794
Comprehensive income attributable to noncontrolling interests	—			—			(10,702		)	—			(10,702		)
COMPREHENSIVE (LOSS) INCOME     ATTRIBUTABLE TO EQUITY ONE, INC.	$	(9,908	)	$	52,247		$	63,150		$	(115,397	)	$	(9,908	)

Condensed Consolidating Statement of Comprehensive Income for the year ended December 31, 2011	Equity One Inc.			Combined Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminating Entries			Consolidated
	(In thousands)
Total revenue	$	32,901		$	149,164		$	98,143		$	—		$	280,208
Equity in subsidiaries' earnings	138,930			—			—			(138,930		)	—
Total costs and expenses	51,728			85,259			72,411			2,150			211,548
INCOME BEFORE OTHER INCOME AND EXPENSE, TAX AND DISCONTINUED OPERATIONS	120,103			63,905			25,732			(141,080		)	68,660
Other income and expenses	(94,795		)	(25,032		)	77,086			(4,084		)	(46,825		)
INCOME FROM CONTINUING    OPERATIONS BEFORE TAX AND    DISCONTINUED OPERATIONS	25,308			38,873			102,818			(145,164		)	21,835
Income tax benefit of taxable REIT subsidiaries	—			2,723			2,341			—			5,064
INCOME FROM CONTINUING    OPERATIONS	25,308			41,596			105,159			(145,164		)	26,899
Income (loss) from discontinued operations	8,664			43,005			(93,479		)	58,129			16,319
NET INCOME	33,972			84,601			11,680			(87,035		)	43,218
Other comprehensive income	64			—			351			—			415
COMPREHENSIVE INCOME	34,036			84,601			12,031			(87,035		)	43,633
Comprehensive income attributable to noncontrolling interests	—			—			(9,597		)	—			(9,597		)
COMPREHENSIVE INCOME     ATTRIBUTABLE TO EQUITY ONE, INC.	$	34,036		$	84,601		$	2,434		$	(87,035	)	$	34,036

Condensed Consolidating Statement of Comprehensive Income for the year ended December 31, 2010	Equity One Inc.			Combined Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminating Entries			Consolidated
	(In thousands)
Total revenue	$	33,618		$	146,048		$	38,445		$	(102	)	$	218,009
Equity in subsidiaries' earnings	71,387			—			—			(71,387		)	—
Total costs and expenses	49,472			75,360			23,588			1,827			150,247
INCOME BEFORE OTHER INCOME AND EXPENSE, TAX AND DISCONTINUED OPERATIONS	55,533			70,688			14,857			(73,316		)	67,762
Other income and expenses	(33,700		)	(13,466		)	(11,684		)	(4,490		)	(63,340		)
INCOME FROM CONTINUING    OPERATIONS BEFORE TAX AND    DISCONTINUED OPERATIONS	21,833			57,222			3,173			(77,806		)	4,422
Income tax (expense) benefit of taxable REIT    subsidiaries	(199		)	752			1,171			—			1,724
INCOME FROM CONTINUING    OPERATIONS	21,634			57,974			4,344			(77,806		)	6,146
Income (loss) from discontinued operations	2,457			10,854			(1,475		)	6,437			18,273
NET INCOME	24,091			68,828			2,869			(71,369		)	24,419
Other comprehensive loss	(282		)	—			(1,021		)	—			(1,303		)
COMPREHENSIVE INCOME	23,809			68,828			1,848			(71,369		)	23,116
Comprehensive loss attributable to    noncontrolling interests	—			—			693			—			693
COMPREHENSIVE INCOME     ATTRIBUTABLE TO EQUITY ONE, INC.	$	23,809		$	68,828		$	2,541		$	(71,369	)	$	23,809

Schedule of Condensed Consolidating Statements of Cash Flows

Condensed Consolidating Statement of Cash Flows for the year ended December 31, 2012	Equity One, Inc.			Combined Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidated
	(In thousands)
Net cash (used in) provided by operating activities	$	(121,293	)	$	108,376		$	166,136		$	153,219
INVESTING ACTIVITIES:
Acquisition of income producing properties	—			(73,235		)	(170,314		)	(243,549		)
Additions to income producing properties	(4,853		)	(12,324		)	(2,998		)	(20,175		)
Acquisition of land held for development	—			(9,505		)	—			(9,505		)
Additions to construction in progress	(682		)	(63,683		)	(778		)	(65,143		)
Proceeds from sale of real estate and rental properties	1,417			15,342			25,235			41,994
Decrease in cash held in escrow	90,846			—			746			91,592
Increase in deferred leasing costs and lease intangibles	(1,739		)	(3,344		)	(2,086		)	(7,169		)
Investment in joint ventures	—			—			(26,392		)	(26,392		)
Repayments of advances to joint ventures	—			—			517			517
Distributions from joint ventures	—			—			567			567
Investment in loans receivable	(114,258		)	—			—			(114,258		)
Repayment of loans receivable	19,258			—			—			19,258
Advances to subsidiaries, net	(107,328		)	56,135			51,193			—
Net cash used in investing activities	(117,339		)	(90,614		)	(124,310		)	(332,263		)
FINANCING ACTIVITIES:
Repayments of mortgage notes payable	(6,585		)	(17,762		)	(41,826		)	(66,173		)
Net borrowings under revolving credit facilities	34,000			—			—			34,000
Proceeds from senior debt borrowings	296,823			—			—			296,823
Repayment of senior debt borrowings	(287,840		)	—			—			(287,840		)
Proceeds from issuance of common stock	85,838			—			—			85,838
Borrowings under term loan	250,000			—			—			250,000
Payment of deferred financing costs	(3,251		)	—			—			(3,251		)
Stock issuance costs	(883		)	—			—			(883		)
Dividends paid to stockholders	(102,078		)	—			—			(102,078		)
Distributions to noncontrolling interests	(9,995		)	—			—			(9,995		)
Distributions to redeemable noncontrolling interests	(944		)	—			—			(944		)
Net cash provided by (used in) financing activities	255,085			(17,762		)	(41,826		)	195,497
Net increase in cash and cash equivalents	16,453			—			—			16,453
Cash and cash equivalents at beginning of the year	10,963			—			—			10,963
Cash and cash equivalents at end of the year	$	27,416		$	—		$	—		$	27,416

Condensed Consolidating Statement of Cash Flows for the year ended December 31, 2011	Equity One, Inc.			Combined Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidated
	(In thousands)
Net cash provided by (used in) operating activities	$	98,588		$	27,461		$	(23,423	)	$	102,626
INVESTING ACTIVITIES:
Acquisition of income producing properties	(55,000		)	(55,500		)	(168,580		)	(279,080		)
Additions to income producing properties	(2,296		)	(11,377		)	(2,723		)	(16,396		)
Additions to construction in progress	(2,339		)	(40,376		)	(382		)	(43,097		)
Proceeds from sale of real estate and rental properties	3,206			11,705			384,485			399,396
Increase in cash held in escrow	(91,591		)	—			—			(91,591		)
Investment in loans receivable	(45,100		)	—			—			(45,100		)
Increase in deferred leasing costs and lease intangibles	(1,416		)	(4,142		)	(1,596		)	(7,154		)
Investment in joint ventures	—			—			(15,024		)	(15,024		)
Repayments of advances to joint ventures	—			—			34,887			34,887
Distributions from joint ventures	—			—			18,786			18,786
Investment in consolidated subsidiary	—			—			(242		)	(242		)
Advances to subsidiaries, net	(67,836		)	161,910			(94,074		)	—
Net cash (used in) provided by investing activities	(262,372		)	62,220			155,537			(44,615		)
FINANCING ACTIVITIES:
Repayments of mortgage notes payable	(1,808		)	(89,681		)	(155,375		)	(246,864		)
Net borrowings under revolving credit facilities	138,000			—			—			138,000
Proceeds from issuance of common stock	116,542			—			—			116,542
Payment of deferred financing costs	(4,888		)	—			(151		)	(5,039		)
Stock issuance costs	(1,185		)	—			—			(1,185		)
Dividends paid to stockholders	(98,842		)	—			—			(98,842		)
Distributions to redeemable noncontrolling interests	(11,405		)	—			—			(11,405		)
Net cash provided by (used in) financing activities	136,414			(89,681		)	(155,526		)	(108,793		)
Net decrease in cash and cash equivalents	(27,370		)	—			(23,412		)	(50,782		)
Cash and cash equivalents obtained through acquisition	—			—			23,412			23,412
Cash and cash equivalents at beginning of the year	38,333			—			—			38,333
Cash and cash equivalents at end of the year	$	10,963		$	—		$	—		$	10,963

Condensed Consolidating Statement of Cash Flows for the year ended December 31, 2010	Equity One, Inc.			Combined Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidated
Net cash (used in) provided by operating activities	$	(176,475	)	$	92,438		$	155,599		$	71,562
INVESTING ACTIVITIES:
Acquisition of income producing properties	—			(67,720		)	(40,376		)	(108,096		)
Additions to income producing properties	(1,853		)	(4,266		)	(3,738		)	(9,857		)
Additions to construction in progress	(4,432		)	(4,280		)	(1,202		)	(9,914		)
Acquisition of land held for development	(1,337		)	—			—			(1,337		)
Proceeds from sale of real estate and rental properties	1,861			1,447			1,009			4,317
Increase in deferred leasing costs and lease intangibles	(1,667		)	(2,082		)	(1,012		)	(4,761		)
Investment in joint ventures	—			—			(13,927		)	(13,927		)
Investment in consolidated subsidiary	(13,437		)	—			—			(13,437		)
Advances to joint ventures	—			—			(33,417		)	(33,417		)
Distributions from joint ventures	—			—			345			345
Proceeds from sale of securities	841			—			—			841
Advances to subsidiaries, net	16,488			34,939			(51,427		)	—
Net cash used in investing activities	(3,536		)	(41,962		)	(143,745		)	(189,243		)
FINANCING ACTIVITIES:
Repayment of mortgage notes payable	(12,825		)	(50,222		)	(11,710		)	(74,757		)
Proceeds from issuance of common stock	270,698			—			—			270,698
Payment of deferred financing costs	(569		)	(254		)	(144		)	(967		)
Stock issuance costs	(3,319		)	—			—			(3,319		)
Dividends paid to stockholders	(83,611		)	—			—			(83,611		)
Net cash provided by (used in) financing activities	170,374			(50,476		)	(11,854		)	108,044
Net decrease in cash and cash equivalents	(9,637		)	—			—			(9,637		)
Cash and cash equivalents at beginning of the year	47,970			—			—			47,970
Cash and cash equivalents at end of the year	$	38,333		$	—		$	—		$	38,333

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Other Liabilities (Composition of Other Liabilities) (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2012	Dec. 31, 2011
Other Liabilities Disclosure [Abstract]
Lease intangible liabilities, net	$ 185,494	$ 156,495
Prepaid rent	10,949	6,834
Other	215	811
Total other liabilities	$ 196,658	$ 164,140

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Valuation And Qualifying Accounts (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011		Dec. 31, 2010
Movement in Valuation Allowances and Reserves [Roll Forward]
Provision for losses on accounts receivable	$ 979	$ 2,946		$ 2,429
Allowance For Doubtful Accounts [Member]
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	5,265	3,672	[1]	3,718
Charged to expense	1,054	2,100		1,601
Adjustments to valuation accounts	0	0		0
Deductions	(3,137)	(507)		(1,647)
Balance at end of period	3,182	5,265		3,672	[1]
Allowance For Deferred Tax Asset [Member]
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	205	195		183
Charged to expense	8	10		12
Adjustments to valuation accounts	0	0		0
Deductions	0	0		0
Balance at end of period	213	205		195
Assets Held For Sale [Member]
Movement in Valuation Allowances and Reserves [Roll Forward]
Provision for losses on accounts receivable				$ 1,200

[1] Allowance for doubtful accounts balance above excludes allowance for doubtful accounts relating to held for sale assets of $1.2 million at December 31, 2010.

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Fair Value of Financial Instruments

12 Months Ended

Dec. 31, 2012

Financial Instruments, Owned, at Fair Value [Abstract]

Fair Value of Financial Instruments

Fair Value of Financial Instruments

The estimated fair values of financial instruments have been determined by us using available market information and appropriate valuation methods. Considerable judgment is required in interpreting market data to develop the estimates of fair value. Accordingly, the estimates presented herein are not necessarily indicative of the amounts that we could realize in a current market exchange. The use of different market assumptions and/or estimation methods may have a material effect on the estimated fair value amounts. We have used the following market assumptions and/or estimation methods:

Cash and Cash Equivalents and Accounts and Other Receivables (classified within levels 1, 2 and 3 of the valuation hierarchy) – The carrying amounts reported in the balance sheets for these financial instruments approximate fair value because of their short maturities.

Loans Receivable (classified within Level 2 of the valuation hierarchy) – The fair value estimated at December 31, 2012 and 2011 was approximately $142.2 million and $45.0 million, respectively. The fair value is estimated by using a discounted cash flow analysis based on the current interest rates at which similar loans would be made. The carrying amount of these loans receivable, including accrued interest and loan costs, was $140.7 million and $45.3 million at December 31, 2012 and 2011, respectively.

Mortgage Notes Payable (classified within Level 2 of the valuation hierarchy) – The fair value estimated at December 31, 2012 and 2011 was approximately $494.4 million and $545.6 million, respectively, calculated based on the net present value of payments over the term of the loans using estimated market rates for similar mortgage loans and remaining terms. The carrying amount of these notes, including notes associated with properties held for sale, was $451.1 million and $509.6 million at December 31, 2012 and 2011, respectively.

Unsecured Senior Notes Payable (classified within Level 2 of the valuation hierarchy) – The fair value estimated at December 31, 2012 and 2011 was approximately $765.1 million and $725.9 million, respectively, calculated based on the net present value of payments over the terms of the notes using estimated market rates for similar notes and remaining terms. The carrying amount of these notes was $729.1 million and $688.8 million at December 31, 2012 and 2011, respectively.

Term Loan (classified within Level 2 of the valuation hierarchy) – The fair value estimated at December 31, 2012 was $255.2 million, calculated based on the net present value of payments over the term of the loan using estimated market rates for similar notes and remaining terms. The carrying amount of this loan was approximately $250.0 million at December 31, 2012.

The fair market value calculation of our debt as of December 31, 2012 includes assumptions as to the effects that prevailing market conditions would have on existing secured or unsecured debt. The calculation uses a market rate spread over the risk free interest rate. This spread is determined by using the weighted average life to maturity coupled with loan-to-value considerations of the respective debt. Once determined, this market rate is used to discount the remaining debt service payments in an attempt to reflect the present value of this stream of cash flows. While the determination of the appropriate market rate is subjective in nature, recent market data gathered suggest that the composite rates used for mortgages, senior notes and term loans are consistent with current market trends.

Interest Rate Swap Agreements (classified within Level 2 of the valuation hierarchy) – The fair value of our interest rate swaps at December 31, 2012 was a liability of $7.0 million. See Note 24 above for a discussion of the method used to value the interest rate swaps.

Redeemable Noncontrolling Interests (classified within Level 3 of the valuation hierarchy) – The carrying amount of the redeemable noncontrolling interestsof $22.6 million and $22.8 million at December 31, 2012 and 2011, respectively, approximates their fair value. The valuation method used to estimate fair value of redeemable noncontrolling interests is based on discounted cash flow analyses.

Investments In and Advances to Unconsolidated Joint Ventures (classified within Level 3 of the valuation hierarchy) – The carrying amount of the investments in and advances to unconsolidated joint ventures of $72.2 million and $50.2 million at December 31, 2012 and 2011, respectively, approximates its fair value as determined by discounted cash flow analyses.

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Investments in Joint Ventures (Tables)

12 Months Ended

Dec. 31, 2012

Equity Method Investments and Joint Ventures [Abstract]

Investments in and Advances to Unconsolidated Joint Ventures

As of December 31, 2012, our investments in and advances to unconsolidated joint ventures was composed of the following:

				Investment Balance at December 31,
Joint Venture (1)	Number of Properties	Location	Ownership	2012		2011
				(In thousands)
Investments in unconsolidated joint ventures:
GRI-EQY I, LLC (2)	10	GA, SC, FL	10.0%	$	8,587	$	7,705
G&I Investment South Florida Portfolio, LLC	3	FL	20.0%	3,491		3,215
Madison 2260 Realty LLC	1	NY	8.6%	634		1,066
Madison 1235 Realty LLC	1	NY	20.1%	1,000		1,000
Talega Village Center JV, LLC (3)	1	CA	50.5%	2,909		3,620
Vernola Marketplace JV, LLC (3)	1	CA	50.5%	6,972		7,433
Parnassus Heights Medical Center	1	CA	50.0%	20,385		13,695
Equity One JV Portfolio, LLC (4)	4	FL, MA	30.0%	27,589		11,393
Total				71,567		49,127
Advances to unconsolidated joint ventures				604		1,031
Investments in and advances to unconsolidated joint ventures				$	72,171	$	50,158

^{______________________________________________} 

⁽¹⁾ With the exception of the Madison 2260 Realty LLC and Madison 1235 Realty LLC joint ventures, which are accounted for under the cost method, all unconsolidated joint ventures are accounted for under the equity method.

⁽²⁾ The investment balance as of December 31, 2012 and December 31, 2011 is presented net of deferred gains of $3.3 million for both periods associated with the disposition of assets by us to the joint venture.

⁽³⁾ Our effective interest is 48% when considering the 5% noncontrolling interest held by Vestar Development Company.

⁽⁴⁾ The investment balance as of December 31, 2012 and December 31, 2011 is presented net of a deferred gain of approximately $404,000 for both periods associated with the disposition of assets by us to the joint venture.

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Goodwill

12 Months Ended

Dec. 31, 2012

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

Goodwill

The following table provides a summary of goodwill activity in the consolidated balance sheets:

	December 31,
	2012			2011
	(In thousands)
Balance at beginning of period	$	7,957		$	8,925
Impairment	(525		)	(968		)
Allocated to property sale	(6		)	—
Balance at end of period	$	7,426		$	7,957

The following table presents goodwill by segment for the years ended December 31, 2012 and 2011:

	December 31,
	2012		2011
	(In thousands)
South Florida	$	2,028	$	2,028
North Florida	1,546		1,546
Southeast	3,852		4,383
Total	$	7,426	$	7,957

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Future Minimum Rental Income (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2012
Operating Leases, Income Statement, Lease Revenue [Abstract]
2013	$ 238,953
2014	208,145
2015	176,780
2016	139,855
2017	108,167
Thereafter	454,194
Total	$ 1,326,094
Lease expiration date	Dec. 31, 2039

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Noncontrolling Interests

12 Months Ended

Dec. 31, 2012

Noncontrolling Interest [Abstract]

Noncontrolling Interests

Noncontrolling Interests

The following table summarizes our noncontrolling interests as of December 31, 2012 and 2011:

	December 31,
	2012		2011
	(In thousands)
Danbury 6 Associates LLC (1)	$	7,720	$	7,720
Southbury 84 Associates LLC (2)	11,242		11,242
Vestar/EQY Canyon Trails LLC (3)	2,600		2,853
Walden Woods Village, Ltd. (4)	989		989
Total redeemable noncontrolling interests	$	22,551	$	22,804
CapCo	$	206,145	$	206,145
DIM	1,100		1,132
Vestar/EQY Talega LLC (5)	147		181
Vestar/EQY Vernola LLC (6)	361		428
Total noncontrolling interests included in total equity	$	207,753	$	207,886

^{______________________________________________} 

⁽¹⁾ This entity owns the Danbury Green Shopping Center.

⁽²⁾ This entity owns the Southbury Green Shopping Center.

⁽³⁾ This entity owns the Canyon Trails Shopping Center.

⁽⁴⁾ We have entered into a redemption agreement whereby our joint venture partner can request that we purchase their interest at any time

before January 1, 2014.

⁽⁵⁾ Holds our interest in Talega Village Center JV, LLC.

⁽⁶⁾ Holds our interest in Vernola Marketplace JV, LLC.

Noncontrolling interest represents the portion of equity that we do not own in those entities that we consolidate. We account for and report our noncontrolling interest in accordance with the provisions under the Consolidation Topic of the FASB ASC.

We are involved in the following investment activities in which we have a controlling interest:

On January 1, 1999, Equity One (Walden Woods) Inc., a wholly-owned subsidiary of ours, formed a limited partnership as a general partner. Walden Woods Village, an income producing shopping center, was contributed by its owners (the “Noncontrolling Partners”), and we contributed 93,656 shares of our common stock to the limited partnership at an agreed-upon price of $10.30 per share. Under the terms of the agreement, the Noncontrolling Partners do not share in any earnings of the partnership, except to the extent of dividends received by the partnership for the shares originally contributed by us. Based on the per-share price and the net value of property contributed by the Noncontrolling Partners, the limited partners received 93,656 partnership units. We have entered into a redemption agreement with the Noncontrolling Partners whereby the Noncontrolling Partners can request that we purchase their partnership units at a price of $10.30 per unit at any time before January 1, 2014. In accordance with the Distinguishing Liabilities subtopic from the Equity Topic of the FASB ASC, the value of the redeemable noncontrolling interest of $989,000 is included in the mezzanine section of our consolidated balance sheet, separate from permanent equity, until the earlier of January 1, 2014 or upon election by the Noncontrolling Partners to redeem their partnership units. We have also entered into a conversion agreement with the Noncontrolling Partners pursuant to which, following notice, the Noncontrolling Partners can convert their partnership units into our common stock. The Noncontrolling Partners have not exercised their redemption or conversion rights, and their noncontrolling interest remains valued at $989,000 at December 31, 2012.

Two of our joint ventures in which we have a controlling interest, together, own our Sunlake development project. We have funded all of the acquisition costs, are required to fund any necessary development and operating costs, receive an 8% preferred return on our advances, have reimbursement rights of all capital outlays upon disposition of the property, and are entitled to 60% of the profits thereafter. The minority partners are not required to make contributions and, to date, have not contributed any capital. Noncontrolling interest will not be recorded until the equity in the property surpasses our capital expenditures and cumulative preferred return.

On January 9, 2009, we entered into the DIM exchange agreement under which we agreed to acquire up to 2,004,249 ordinary shares of DIM from another DIM shareholder. On January 14, 2009, at an initial closing pursuant to this agreement, we issued 866,373 shares of our common stock in exchange for a total of 1,237,676 DIM ordinary shares (or depositary receipts with respect thereto), representing 15.1% of DIM’s outstanding ordinary shares. In connection with this initial closing, we also obtained voting rights with respect to another 766,573 DIM ordinary shares. As a result of the initial stock exchange, subsequent purchases and the voting rights agreement, as of December 31, 2009, we owned 5,367,817 ordinary shares of DIM, representing approximately 65.3% of its total outstanding shares, and had voting control over approximately 74.7% of DIM’s outstanding ordinary shares. On February 19, 2010, we issued 536,601 shares of our common stock in exchange for the remaining 766,573 DIM ordinary shares in accordance with the DIM exchange agreement. Following the initial closing on January 14, 2009, we determined that we had sufficient control over DIM to consolidate its results effective as of the acquisition date in accordance with the Business Combinations Topic of the FASB ASC. Upon consolidation, we recorded $25.8 million of noncontrolling interest which represented the fair value of the portion of DIM’s equity that we did not own upon acquisition.

In addition to the shares issued under the DIM exchange agreement, we acquired DIM shares through open market and private purchases bringing our ownership interest to approximately 97.8% at December 31, 2012 and 2011. We expensed approximately $1.1 million of acquisition-related costs related to DIM during the year ended December 31, 2010. We did not incur any DIM acquisition-related costs during the years ended December 31, 2012 and 2011.

The following table shows the effects on our equity resulting from the changes in our ownership interest in consolidated subsidiaries:

	Year Ended December 31,
	2012			2011		2010
	(In thousands)
Net (loss) income attributable to Equity One, Inc.	$	(3,477	)	$	33,621	$	25,112
Increase in our paid-in capital for purchases of DIM ordinary shares (1)	—			—		7,562
Net transfers from noncontrolling interest	—			—		7,562
Change from net (loss) income attributable to Equity One, Inc. and    transfers from noncontrolling interest	$	(3,477	)	$	33,621	$	32,674

^{______________________________________________} 

⁽¹⁾ For purchases of 33,213 and 2,637,488 DIM ordinary shares for the years ended December 31, 2011 and 2010, respectively. There were no purchases of DIM ordinary shares for the year ended December 31, 2012.

In December 2010, we acquired controlling interests in three joint ventures with Vestar which required us to consolidate their results as of the acquisition date. Upon consolidation, we recorded $5.2 million of noncontrolling interest which represented the fair value of the portion of the joint venture equity that we did not own upon acquisition. For the Equity One/Vestar JVs, $508,000 and $609,000 of noncontrolling interest is recorded in permanent equity in our consolidated balance sheets at December 31, 2012 and 2011, respectively. Our Arizona joint venture with Vestar contains certain provisions which may require us to redeem the noncontrolling interest at fair market value at Vestar’s option. Due to the redemption feature, we have recorded the $2.6 million and $2.9 million of noncontrolling interest associated with this venture in the mezzanine section of our consolidated balance sheets at December 31, 2012 and 2011, respectively, which approximates redemption value at such date. The carrying amount of Vestar’s redeemable noncontrolling interest will be increased by periodic accretions, which shall be recognized against paid-in capital, such that the carrying amount of the noncontrolling interest will equal the mandatory redemption amount.

We acquired a controlling interest in CapCo on January 4, 2011 which required us to consolidate CapCo’s results as of the acquisition date. We recorded $206.1 million of noncontrolling interest upon consolidation, which represented the fair value of the portion of CapCo’s equity that we did not own upon acquisition. The $206.1 million of noncontrolling interest is reflected in the equity section of our consolidated balance sheet as permanent equity at December 31, 2012. Since LIH, the noncontrolling party, only participates in the earnings of CapCo to the extent of dividends declared on our common stock and considering that dividends are generally declared and paid in the same quarter, subsequent changes to the noncontrolling interest will only occur if dividends are declared but not paid, or if we acquire all or a portion of LIH’s interest or if its LLC shares in CapCo are converted into our common stock. See Note 5 above for a discussion of the CapCo joint venture.

In October 2011, we acquired a 60% controlling interest in two VIEs, Danbury 6 Associates LLC and Southbury 84 Associates LLC. We determined that we are the primary beneficiary of these entities and, accordingly, we consolidated their results as of the acquisition date. Upon consolidation, we recorded $19.0 million of noncontrolling interest which represented the estimated fair value of the preferred equity interests which are entitled to a cumulative 5% annual preferred return, held by the noncontrolling interest holders. The operating agreements contain certain provisions that may require us to redeem the noncontrolling interest at the balance of their contributed capital as adjusted for unpaid preferred returns due to them pursuant to the operating agreements. The provisions are exercisable at any time prior to the tenth anniversary of the acquisition closing. Due to the redemption feature, we have recorded the $19.0 million of noncontrolling interest associated with this venture in the mezzanine section of our consolidated balance sheets at December 31, 2012 and 2011, which approximates redemption value. The carrying amount of the redeemable noncontrolling interest is increased by periodic accretions of a preferred return of 5%, and will be decreased by payments made to the noncontrolling partner which shall be recognized as income attributable to the noncontrolling interest holders for the period, such that the carrying amount of the noncontrolling interest will equal the mandatory redemption amount. Both the income attributable to the noncontrolling interest holders and amounts paid to them during the year ended December 31, 2012 were $944,000. The income attributable to the noncontrolling interest holders and amounts paid to them during the year ended December 31, 2011 were $168,000 and $89,000, respectively.

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Income Taxes (Tax Status Of Dividends Paid) (Details) (USD $)	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Income Tax Disclosure [Abstract]
Dividend paid per share	$ 0.88	$ 0.88	$ 0.88
Ordinary income	43.72%	51.80%	50.74%
Return of capital	54.10%	39.13%	47.08%
Capital gains	2.18%	9.07%	2.18%

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Impairment (Tables)

12 Months Ended

Dec. 31, 2012

Asset Impairment Charges [Abstract]

Summary Of The Impairment Loss

The following table is a summary of the impairment loss recorded in the accompanying consolidated statements of operations:

	Year Ended December 31,
	2012		2011		2010
	(In thousands)
Goodwill	$	525	$	968	$	464
Land held for development	740		11,766		—
Properties held for use	21,507		6,424		—
Impairment loss recognized in continuing operations	22,772		19,158		464
Goodwill	—		1,416		223
Properties held for sale	6,669		36,762		—
Impairment loss recognized in discontinued operations	6,669		38,178		223
Total impairment loss	$	29,441	$	57,336	$	687

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Stockholders’ Equity and Earnings (Loss) Per Share (Summary Of Calculation Of Basic EPS And Reconciliation Of Net Income Available To Shareholders) (Details) (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended																12 Months Ended
	Dec. 31, 2012		Sep. 30, 2012		Jun. 30, 2012		Mar. 31, 2012		Dec. 31, 2011		Sep. 30, 2011		Jun. 30, 2011		Mar. 31, 2011		Dec. 31, 2012	Dec. 31, 2011		Dec. 31, 2010
Schedule of Equity Method Investments [Line Items]
Income (loss) from continuing operations	$ (32,255)	[1],[2]	$ 11,825	[1]	$ 5,301	[1]	$ 8,374	[1]	$ (2,559)	[1]	$ (8,216)	[1],[3]	$ 5,354	[1]	$ 32,320	[1],[4]	$ (6,755)	$ 26,899		$ 6,146
Net Income (Loss) Attributable to Noncontrolling Interest																	(10,702)	(9,630)		254
Income from continuing operations attributable to Equity One, Inc.																	(17,457)	17,269		6,400
Allocation of continuing income to restricted shares awards and to Class A common stockholder, Basic																	(18,539)	16,100		6,120
Income from continuing operations attributable to common stockholders, Basic																	(18,539)	16,100		6,120
Income from discontinued operations																	13,980	16,319		18,273
Net loss attributable to noncontrolling interests																		33		439
Income from discontinued operations attributable to Equity One, Inc.																	13,980	16,352		18,712
Allocation of discontinued loss to restricted share awards and to Class A common stockholder																	13,830	16,156		18,646
Income from discontinued operations attributable to common stockholders																	13,830	16,156		18,646
Net income (loss) available to common stockholders																	(4,709)	32,256		24,766
Weighted average shares outstanding - Basic (in shares)																	114,233	110,099		91,536
Basic earnings per share from continuing operations (in usd per share)	$ (0.30)	[1],[2]	$ 0.08	[1]	$ 0.02	[1]	$ 0.05	[1]	$ (0.05)	[1]	$ (0.10)	[1],[3]	$ 0.03	[1]	$ 0.28	[1],[4]	$ (0.16)	$ 0.15		$ 0.07
Basic earnings per share from discontinued operations (in usd per share)																	$ 0.12	$ 0.15		$ 0.20
Earnings per common share - Basic (in usd per share)	$ (0.28)	[1],[2]	$ 0.07	[1]	$ 0.02	[1]	$ 0.16	[1]	$ (0.04)	[1]	$ (0.04)	[1],[3]	$ 0.06	[1]	$ 0.33	[1],[4]	$ (0.04)	$ 0.29	[5]	$ 0.27
Restricted Share Awards And To Class A Common Stock [Member]
Schedule of Equity Method Investments [Line Items]
Allocation of continuing income to restricted shares awards and to Class A common stockholder, Basic																	(1,082)	(1,169)		(280)
Income from continuing operations attributable to common stockholders, Basic																	(1,082)	(1,169)		(280)
Allocation of discontinued loss to restricted share awards and to Class A common stockholder																	(150)	(196)		(66)
Income from discontinued operations attributable to common stockholders																	$ (150)	$ (196)		$ (66)

[1] Reclassified to reflect the reporting of discontinued operations. Note that the sum of the individual quarters per share data may not foot to the year-to-date totals due to the rounding of the individual calculations.

[2] During the fourth quarter of 2012, we recognized a loss on early extinguishment of debt of $30.2 million (including $1.1 million in discontinued operations), primarily comprised of a make-whole premium and deferred fees and costs of $29.6 million associated with the redemption of all of our $250 million 6.25% unsecured senior notes, which were scheduled to mature on December 15, 2014. Additionally, during the fourth quarter of 2012, we recognized impairment losses of $18.8 million in continuing operations and $798,000 in discontinued operations. See Note 7 for further discussion of impairments.

[3] During the fourth quarter of 2011, we identified and corrected an immaterial error related to the allocation of earnings between continuing and discontinued operations. Net loss from continuing operations for the third quarter was understated by $1.6 million, or $0.02 per basic and diluted share, and net income from discontinued operations was understated by $1.6 million, or $0.01 per basic and diluted share. Net loss per basic and diluted share were not affected. No other quarters were impacted by the reclassification of earnings between continuing and discontinued operations.

[4] During the first quarter of 2011, we recognized a gain on bargain purchase of $30.6 million related to our CapCo acquisition.

[5] Note: EPS does not foot due to the rounding of the individual calculations.

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Real Estate Investments And Accumulated Depreciation

12 Months Ended

Dec. 31, 2012

Real Estate and Accumulated Depreciation Disclosure [Abstract]

Real Estate Investments And Accumulated Depreciation

SCHEDULE III

Equity One, Inc.

REAL ESTATE INVESTMENTS AND ACCUMULATED DEPRECIATION

Depreciation and amortization are provided on the straight-line method over the estimated useful lives of the assets as follows:

Buildings	30-55 years
Buildings and land improvements	2-40 years
Tenant improvements	Lesser of minimum lease term or economic useful life
Furniture and equipment	5-7 years

	2012			2011			2010
	(In thousands)
Reconciliation of total real estate carrying value:
Balance at beginning of year	$	3,086,320		$	2,686,610		$	2,486,235
Additions during period:
Improvements	24,022			559,536			23,945
Acquisitions	273,185			944,598			196,756
Deductions during period:
Cost of real estate sold/written off	(41,429		)	(1,104,424		)	(20,326		)
Balance at end of year	$	3,342,098		$	3,086,320		$	2,686,610
Reconciliation of accumulated depreciation:
Balance at beginning of year	$	(277,197	)	$	(228,956	)	$	(193,392	)
Depreciation expense	(66,758		)	(67,876		)	(50,995		)
Cost of real estate sold/written off	8,093			19,635			15,431
Balance at end of year	$	(335,862	)	$	(277,197	)	$	(228,956	)
Aggregate cost for federal income tax purposes	$	2,249,859		$	2,099,729		$	1,936,534

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Share-Based Payment Plans (Narrative) (Details) (USD $)	0 Months Ended	12 Months Ended
	Aug. 09, 2010	Dec. 31, 2012		Dec. 31, 2011	Dec. 31, 2010	May 31, 2011	May 02, 2011
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, shares issued (in shares)		116,938,000		112,599,000		6,000,000	13,500,000
Maximum term of award		10 years
Total intrinsic value of options exercised in period		$ 319,000		$ 1,000
Executive shares				800,000
Unvested Shares, Unvested at end of the period		975,380	[1]	1,178,000
Number of restricted stock awarded (in shares)	380,000
Unvested Shares, Vested		271,000		31,250
Performance measurement period					P4Y
Minimum rate of stock holder return over performance period					6.00%
Liability associated with award into earnings				700,000
Number Of Basis Points For Total Vesting Of Contingent Shares		300
Rate Of Share Holder Return On Total Vesting Of Contingent Shares		9.00%
Number Of Basis Points For One Half Vesting Of Contingent Shares		150
Rate Of Share Holder Return On One Half Vesting Of Contingent Shares		6.00%
Stock Issued During Period, Value, Restricted Stock Award, Gross		4,500,000
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period		August 9, 2010 through December 31, 2014
Net share-based compensation expense		6,863,000		6,992,000	6,497,000
Percentage Of Base Salary For Bonus In Cash		50.00%
Percentage Of Base Salary For Bonus In Cash And In Shares		100.00%
Reduction In Number Of Bonus Shares		12,500
Total unrecognized compensation expense related to unvested and restricted share-based payment arrangements		11,000,000
Recognizable weighted-average period (in years)		1 year 10 months 24 days
Sale of Stock, Percentage of Ownership before Transaction		90.00%
Number of trading days used to determine Employee Stock Purchase Plan purchase price		5 years
Sale of Stock, Percentage of Ownership after Transaction		85.00%
Contingent Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Net share-based compensation expense		1,000,000		1,000,000
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for issuance		5,000,000
Total cash or other consideration received from exercise of options		493,000		31,000
Total intrinsic value of options exercisable		5,300,000		1,200,000
Restricted Stock Grants And Long-Term Incentive Compensation Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of restricted stock awarded (in shares)		71,934
Unvested Shares, Vested		270,927
Total vesting-date value of shares vested in a period		4,900,000
Executive Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Net share-based compensation expense		1,100,000		1,000,000
Chief Executive Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of restricted stock awarded (in shares)	698,894
Unvested Shares, Vested	14,170	5,061		24,291
Shares issued during period	582,412
Shares expected to vest, year two		5,060
Chief Executive Officer [Member] | Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Option to purchase shares of common stock (in shares)		364,660
Board of Directors Chairman [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested Shares, Vested		7,266
Future Vested [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested Shares, Vested		7,248
Minimum [Member] | Restricted Stock Grants And Long-Term Incentive Compensation Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vest over period (in years)		0 years
Maximum [Member] | Restricted Stock Grants And Long-Term Incentive Compensation Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vest over period (in years)		3 years
Four Zero One K Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Defined Contribution Plan, Cost Recognized		$ 432,000		$ 418,000	$ 332,000
Percentage Of Employee Contribution Matched First Time		100.00%
Percentage Of Employee Contribution Matched Second Time		50.00%
Percentage Of Employee Annual Compensation For First Time Matching		3.00%

[1] Does not include 800,000 shares of restricted stock awarded to certain executives which are subject to performance vesting conditions and are not entitled to vote or receive dividends during the performance period as discussed below.

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Consolidated Statements of Comprehensive Income (Loss) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2012		Dec. 31, 2011		Dec. 31, 2010
NET INCOME (LOSS)	$ 7,225		$ 43,218		$ 24,419
OTHER COMPREHENSIVE INCOME (LOSS):
Net unrealized holding gain on securities available for sale	0		0		14
Reclassification adjustment for gain on sale of securities included in net income on securities available for sale	0		0		(359)
Net amortization of interest rate contracts included in net income	64		64		63
Net unrealized (loss) gain on interest rate swap	(6,495)	[1]	351	[1]	(1,021)	[1]
Other comprehensive (loss) income adjustment	(6,431)		415		(1,303)
COMPREHENSIVE INCOME	794		43,633		23,116
Comprehensive (income) loss attributable to noncontrolling interests	(10,702)		(9,597)		693
COMPREHENSIVE (LOSS) INCOME ATTRIBUTABLE TO EQUITY ONE, INC.	(9,908)		34,036		23,809
Majority-Owned Subsidiary, Unconsolidated [Member]
OTHER COMPREHENSIVE INCOME (LOSS):
Net unrealized (loss) gain on interest rate swap	$ 458		$ 351		$ (1,021)

[1] This amount includes our share of an unconsolidated joint venture's unrealized gains (losses) of $458, $351 and $(1,021) for the years ended December 31, 2012, 2011 and 2010, respectively.

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Borrowings (Schedule Of Mortgage Notes Payable) (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2012	Dec. 31, 2011
Debt Instrument [Line Items]
Mortgage notes payable	$ 439,156	$ 459,677
Debt Instrument, Unamortized Discount (Premium), Net	(7,058)	(7,896)
Weighted-average interest rate of fixed rate mortgage notes	5.02%	6.06%
Fixed Rate Mortgage Loans [Member]
Debt Instrument [Line Items]
Unamortized premium, net	9,064	10,236
Debt Instrument, Unamortized Discount (Premium), Net	448,220	469,913
Weighted-average interest rate of fixed rate mortgage notes	6.09%	6.16%
Assets Held For Sale [Member]
Debt Instrument [Line Items]
Mortgage notes payable	$ 451,100	$ 509,600

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Organization and Basis of Presentation

12 Months Ended

Dec. 31, 2012

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization and Basis of Presentation

Organization and Basis of Presentation

Organization

We are a real estate investment trust, or REIT, that owns, manages, acquires, develops and redevelops shopping centers and retail properties located primarily in supply constrained suburban and urban communities. We were organized as a Maryland corporation in 1992, completed our initial public offering in May 1998, and have elected to be taxed as a REIT since 1995.

As of December 31, 2012, our consolidated property portfolio comprised 168 properties, including 144 retail properties and six non-retail properties totaling approximately 16.9 million square feet of gross leasable area, or GLA, 11 development or redevelopment properties with approximately 2.2 million square feet of GLA upon completion, and seven land parcels. As of December 31, 2012, our core portfolio was 92.1% leased and included national, regional and local tenants. Additionally, we had joint venture interests in 18 retail properties and two office buildings totaling approximately 3.3 million square feet of GLA.

Basis of Presentation

The consolidated financial statements include the accounts of Equity One, Inc. and our wholly-owned subsidiaries and those other entities where we have a controlling financial interest, including where we have been determined to be a primary beneficiary of a variable interest entity (“VIE”) in accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”). Equity One, Inc. and its subsidiaries are hereinafter referred to as “the consolidated companies”, the “Company”, “we”, “our”, “us” or similar terms. All significant intercompany transactions and balances have been eliminated in consolidation. Certain prior-period data have been reclassified to conform to the current period presentation. Certain operations have been classified as discontinued and associated results of operations and financial position are separately reported for all periods presented. Information in these notes to the consolidated financial statements, unless otherwise noted, does not include the accounts of discontinued operations.

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Share-Based Payment Plans (Tables)

12 Months Ended

Dec. 31, 2012

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of Stock Option Activity

The following table presents stock option activity:

	Year Ended December 31,
	2012				2011				2010
	Shares Under Option		Weighted- Average  Exercise Price		Shares Under Option		Weighted- Average  Exercise Price		Shares Under Option		Weighted- Average  Exercise Price
	(In thousands)				(In thousands)				(In thousands)
Outstanding at the beginning of year	3,565		$	20.62	3,346		$	20.73	2,762		$	21.28
Granted	—		—		227		19.07		609		18.56
Exercised	(42	)	11.59		(2	)	18.88		—		—
Forfeited or expired	(2	)	18.88		(6	)	18.88		(25	)	28.05
Outstanding at the end of year	3,521		$	20.73	3,565		$	20.62	3,346		$	20.73
Exercisable at the end of year	3,041		$	21.15	2,675		$	21.54	2,157		$	22.62
Weighted-average fair value of options    granted during the year			$	—			$	3.67			$	3.43

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The fair value of each option grant was estimated on the grant date using the Black-Scholes-Merton pricing model with the following assumptions:

	Year Ended December 31,
	2011	2010
Dividend yield	4.6%	4.4% - 4.8%
Risk-free interest rate	2.7%	1.9% - 2.9%
Expected option life (years)	6.0 - 6.25	5.75 - 6.5
Expected volatility	30.2%	28.6% - 30.7%

Schedule of Nonvested Restricted Stock Units Activity

	Unvested Shares			Weighted-Average Price
	(In thousands)
Unvested at January 1, 2012	1,178			$	17.23
Granted	72			$	18.85
Vested	(271	)		$	18.06
Forfeited	(4	)		$	19.25
Unvested at December 31, 2012	975		*	$	17.11

 ___________________________

* Does not include 800,000 shares of restricted stock awarded to certain executives which are subject to performance vesting conditions and are not entitled to vote or receive dividends during the performance period as discussed below.

Share-Based Compensation Expense

Share-based compensation expense charged against earnings is summarized as follows:

	Year Ended December 31,
	2012			2011			2010
	(in thousands)
Restricted stock expense	$	6,060		$	5,692		$	4,194
Stock option expense	1,040			1,454			2,347
Employee stock purchase plan discount	13			14			10
Total equity-based expense	7,113			7,160			6,551
Restricted stock classified as a liability	51			103			—
Total expense	7,164			7,263			6,551
Less amount capitalized	(301		)	(271		)	(54		)
Net share-based compensation expense	$	6,863		$	6,992		$	6,497

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Loans Receivable (Details) (USD $)	0 Months Ended	12 Months Ended						12 Months Ended		1 Months Ended						12 Months Ended
	Jul. 05, 2011	Dec. 31, 2012 sqft	Dec. 31, 2011	Jan. 04, 2011 sqft	Dec. 31, 2012 Mortgage Loan [Member]	Jul. 05, 2011 Mortgage Loan [Member]	Jul. 05, 2011 Senior Mezzanine Loan [Member]	Dec. 31, 2012 Mezzanine Loan [Member]	Oct. 31, 2012 Westwood Complex [Member]	Oct. 31, 2012 Westwood Complex [Member] Mortgage Loans on Real Estate [Member]	Oct. 31, 2012 Westwood Complex [Member] Real Estate [Member] acre	Oct. 31, 2012 Westwood Complex [Member] Retail Site [Member] sqft	Oct. 31, 2012 Westwood Complex [Member] Apartment Building [Member] sqft	Oct. 31, 2012 Westwood Complex [Member] Assisted Living Facility [Member] units	Dec. 31, 2012 Performing Financing Receivable [Member] Westwood Complex [Member] Mortgage Loans on Real Estate [Member]	Dec. 31, 2012 Mezzanine Loan [Member]	Jul. 05, 2011 Mezzanine Loan [Member] Junior Mezzanine Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mezzanine loans receivable, net		$ 140,708,000	$ 45,279,000			$ 120,000,000	$ 60,000,000			$ 95,000,000							$ 45,000,000
Aggregate appraised value of acquired loan receivable	272,000,000
Interest rate on loan receivable over the period	8.46%
One month, LIBOR floor percentage on loan receivable	0.75%
Mezzanine loan interest rate		6.61%	6.33%					9.21%		5.00%						9.21%
Interest costs capitalized								108,000
Loan amount, carrying value		140,708,000			45,200,000										95,485,000	45,223,000
Purchase of Assets, Contract Price									$ 140,000,000
Square feet of gross leasable area		16,900,000		2,600,000							22	214,767	211,020
Number of Units in Real Estate Property														62

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Stockholders’ Equity and Earnings (Loss) Per Share (Summary Of Calculation Of Diluted EPS And Reconciliation Of Net Loss (Income) Available To Shareholders) (Details) (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended																12 Months Ended
	Dec. 31, 2012		Sep. 30, 2012		Jun. 30, 2012		Mar. 31, 2012		Dec. 31, 2011		Sep. 30, 2011		Jun. 30, 2011		Mar. 31, 2011		Dec. 31, 2012	Dec. 31, 2011		Dec. 31, 2010
Schedule of Equity Method Investments [Line Items]
Income (loss) from continuing operations	$ (32,255)	[1],[2]	$ 11,825	[1]	$ 5,301	[1]	$ 8,374	[1]	$ (2,559)	[1]	$ (8,216)	[1],[3]	$ 5,354	[1]	$ 32,320	[1],[4]	$ (6,755)	$ 26,899		$ 6,146
Net Income (Loss) Attributable to Noncontrolling Interest																	(10,702)	(9,630)		254
Income from continuing operations attributable to Equity One, Inc.																	(17,457)	17,269		6,400
Income from discontinued operations																	13,980	16,319		18,273
Net loss attributable to noncontrolling interests																		33		439
Income from discontinued operations attributable to Equity One, Inc.																	13,980	16,352		18,712
Net income available to common stockholders																	(4,695)	32,274		24,675
Weighted average shares outstanding - Basic (in shares)																	114,233,000	110,099,000		91,536,000
Stock options using the treasury method (in shares)																	0	142,000		102,000
Executive Incentive Plan shares using the treasury method (in shares)																				72,000
Weighted average shares outstanding - Diluted																	114,233,000	110,241,000		91,710,000
Diluted earnings per share from continuing operations (in usd per share)	$ (0.30)	[1],[2]	$ 0.08	[1]	$ 0.02	[1]	$ 0.05	[1]	$ (0.05)	[1]	$ (0.10)	[1],[3]	$ 0.03	[1]	$ 0.27	[1],[4]	$ (0.16)	$ 0.15		$ 0.07
Diluted earnings per share from discontinued operations (in usd per share)																	$ 0.12	$ 0.15		$ 0.20
Earnings per common share - Diluted (in usd per share)	$ (0.28)	[1],[2]	$ 0.07	[1]	$ 0.02	[1]	$ 0.16	[1]	$ (0.04)	[1]	$ (0.04)	[1],[3]	$ 0.06	[1]	$ 0.32	[1],[4]	$ (0.04)	$ 0.29	[5]	$ 0.27
Restricted Share Awards And To Class A Common Stock [Member]
Schedule of Equity Method Investments [Line Items]
Classa Income Loss From Continuing Operations																	(1,082)	(1,169)		(280)
Classa Income Loss From Discontinued Operations																	(136)	(178)		(66)
Dim Contingent Shares [Member]
Schedule of Equity Method Investments [Line Items]
DIM Contingent Shares Income Loss From Continuing Operations																	0	0		(91,000)
Earnings Per Share, Diluted [Member]
Schedule of Equity Method Investments [Line Items]
Classa Income Loss From Continuing Operations																	(18,539)	16,100		6,029
Common Class A [Member]
Schedule of Equity Method Investments [Line Items]
Classa Income Loss From Discontinued Operations																	$ 13,844	$ 16,174		$ 18,646

[1] Reclassified to reflect the reporting of discontinued operations. Note that the sum of the individual quarters per share data may not foot to the year-to-date totals due to the rounding of the individual calculations.

[2] During the fourth quarter of 2012, we recognized a loss on early extinguishment of debt of $30.2 million (including $1.1 million in discontinued operations), primarily comprised of a make-whole premium and deferred fees and costs of $29.6 million associated with the redemption of all of our $250 million 6.25% unsecured senior notes, which were scheduled to mature on December 15, 2014. Additionally, during the fourth quarter of 2012, we recognized impairment losses of $18.8 million in continuing operations and $798,000 in discontinued operations. See Note 7 for further discussion of impairments.

[3] During the fourth quarter of 2011, we identified and corrected an immaterial error related to the allocation of earnings between continuing and discontinued operations. Net loss from continuing operations for the third quarter was understated by $1.6 million, or $0.02 per basic and diluted share, and net income from discontinued operations was understated by $1.6 million, or $0.01 per basic and diluted share. Net loss per basic and diluted share were not affected. No other quarters were impacted by the reclassification of earnings between continuing and discontinued operations.

[4] During the first quarter of 2011, we recognized a gain on bargain purchase of $30.6 million related to our CapCo acquisition.

[5] Note: EPS does not foot due to the rounding of the individual calculations.

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Acquisitions (Narrative) (Details) (USD $)	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Business Acquisition [Line Items]
Number of Businesses Acquired		9
Acquisition-related costs		$ 1,900,000
Purchase Price	288,500,000
Mortgage Assumed	35,451,000	121,200,000
Mezzanine loan interest rate	6.61%	6.33%
Maximum [Member]
Business Acquisition [Line Items]
Like-kind exchange agreement days, maximum	180 days
Mezzanine loan interest rate	6.33%
Minimum [Member]
Business Acquisition [Line Items]
Mezzanine loan interest rate	5.37%
Shopping Center [Member]
Business Acquisition [Line Items]
Purchase Price		419,200,000
CapCo and DIM [Member]
Business Acquisition [Line Items]
Acquisition-related costs	$ 3,400,000	$ 7,000,000	$ 1,400,000

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Stockholders’ Equity and Earnings (Loss) Per Share

12 Months Ended

Dec. 31, 2012

Stockholders' Equity Attributable to Parent [Abstract]

Stockholders’ Equity and Earnings (Loss) Per Share

18. Stockholders’ Equity and (Loss) Earnings Per Share

During each quarter of 2012, our Board of Directors declared cash dividends of $0.22 per share on our common stock. These dividends were paid in March, June, September and December 2012.

In August 2012, we completed an underwritten public offering and concurrent private placement totaling 4.1 million shares of our common stock at a price to the public and in the private placement of $21.20 per share. In the concurrent private placement, 500,000 shares were purchased by MGN (USA), Inc., an affiliate of our largest stockholder, Gazit-Globe, Ltd. ("Gazit"), which may be deemed to be controlled by Chaim Katzman, the Chairman of our Board of Directors. The offerings generated proceeds to us of approximately $85.6 million. The stock issuance costs and underwriting discounts were approximately $813,000. We used the net proceeds to reduce the outstanding balance under our unsecured revolving credit facility.

In May 2011, we completed an underwritten public offering and concurrent private placement of an aggregate of 6.0 million shares of our common stock at a price to the public and in the private placement of $19.42 per share. In the concurrent private placement, 1.0 million shares were purchased by MGN (USA), Inc. The offerings generated proceeds to us of approximately $115.7 million, net of stock issuance costs and underwriting discounts of $858,000.

In connection with the CapCo acquisition on January 4, 2011, LIH transferred and assigned to us an outstanding promissory note of CapCo in the amount of $67.0 million in exchange for approximately 4.1 million shares of our common stock and one share of a newly-established class of our capital stock, Class A common stock, that (i) was convertible into 10,000 shares of our common stock in certain circumstances, and (ii) subject to certain limitations, entitled LIH to voting rights with respect to a number of shares of our common stock determined with reference to the number of joint venture shares held by LIH from time to time. Effective June 29, 2011, the one share of Class A common stock was converted in accordance with its terms into 10,000 shares of our common stock.

Also in connection with the closing of the CapCo transaction in 2011, we executed a Registration and Liquidity Rights Agreement between us and LIH pursuant to which we agreed to register the approximately 4.1 million shares of our common stock received by LIH in the transaction and the approximately 11.4 million shares of our common stock issuable if we exercise our right to pay for the redemption of LIH’s joint venture units with shares of our common stock. On March 9, 2012, LIH sold the approximately 4.1 million shares of our common stock issued in exchange for the CapCo note and upon conversion of the Class A common stock pursuant to an underwritten public offering. Pursuant to the Registration and Liquidity Rights Agreement, we paid all of the expenses of the offering other than underwriting discounts and legal expenses of counsel to LIH, which amounted to $169,000 for the year ended December 31, 2012, and are included in general and administrative expenses in the accompanying consolidated statement of operations.

In March and December 2010, we completed underwritten public offerings of an aggregate of approximately 14.0 million shares of our common stock and concurrent private placements of an aggregate of approximately 1.5 million shares of our common stock at a price to the public and in the private placement of $18.40 and $16.90 per share, respectively. Shares issued in the private placements were purchased by MGN America, LLC and Silver Maple (2001), Inc., affiliates of Gazit. The offerings generated net proceeds to us of approximately $267.8 million.

(Loss) Earnings per Share

During 2010, we issued 536,601 shares of our common stock in exchange for DIM stock under the DIM exchange agreement. There were no such shares issued for the years ended December 31, 2012 and 2011. We were required to adjust our basic income used in our basic earnings per share (“EPS”) calculations for the incremental gain or (loss) attributable to our increased ownership, as well our weighted-average shares to include the additional share issuance to the extent that the adjustment was not anti-dilutive.

The following summarizes the calculation of basic EPS and provides a reconciliation of the amounts of net (loss) income available to common stockholders and shares of common stock used in calculating basic EPS:

	Year Ended December 31,
	2012			2011				2010
	(In thousands)
(Loss) income from continuing operations	$	(6,755	)	$	26,899			$	6,146
Net (income) loss attributable to noncontrolling interests	(10,702		)	(9,630		)		254
(Loss) income from continuing operations attributable to Equity One, Inc.	(17,457		)	17,269				6,400
Allocation of continuing income to restricted share awards and to Class A    common stockholder	(1,082		)	(1,169		)		(280		)
(Loss) income from continuing operations attributable to common    stockholders	(18,539		)	16,100				6,120
Income from discontinued operations	13,980			16,319				18,273
Net loss attributable to noncontrolling interests	—			33				439
Income from discontinued operations attributable to Equity One, Inc.	13,980			16,352				18,712
Allocation of discontinued income to restricted share awards and to    Class A common stockholder	(150		)	(196		)		(66		)
Income from discontinued operations attributable to common stockholders	13,830			16,156				18,646
Net (loss) income available to common stockholders	$	(4,709	)	$	32,256			$	24,766
Weighted average shares outstanding – Basic	114,233			110,099				91,536
Basic (loss) earnings per share attributable to the common stockholders:
Continuing operations	$	(0.16	)	$	0.15			$	0.07
Discontinued operations	0.12			0.15				0.20
(Loss) earnings per common share — Basic	$	(0.04	)	$	0.29		*	$	0.27

* Note: EPS does not foot due to the rounding of the individual calculations.

The following summarizes the calculation of diluted EPS and provides a reconciliation of the amounts of net (loss) income available to common stockholders and shares of common stock used in calculating diluted EPS:

	Year Ended December 31,
	2012			2011				2010
	(In thousands)
(Loss) income from continuing operations	$	(6,755	)	$	26,899			$	6,146
Net (income) loss attributable to noncontrolling interests	(10,702		)	(9,630		)		254
(Loss) income from continuing operations attributable to Equity One, Inc.	(17,457		)	17,269				6,400
Allocation of continuing income to restricted share awards and to    Class A common stockholder	(1,082		)	(1,169		)		(280		)
Allocation of earnings associated with DIM contingent shares	—			—				(91		)
(Loss) income from continuing operations attributable to common    stockholders	(18,539		)	16,100				6,029
Income from discontinued operations	13,980			16,319				18,273
Net loss attributable to noncontrolling interests	—			33				439
Income from discontinued operations attributable to Equity One, Inc.	13,980			16,352				18,712
Allocation of discontinued income to restricted share awards and to    Class A common stockholder	(136		)	(178		)		(66		)
Income from discontinued operations attributable to common    stockholders	13,844			16,174				18,646
Net (loss) income available to common stockholders	$	(4,695	)	$	32,274			$	24,675
Weighted average shares outstanding – Basic	114,233			110,099				91,536
Stock options using the treasury method	—			142				102
Contingent shares to be issued for DIM stock	—			—				72
Weighted average shares outstanding – Diluted	114,233			110,241				91,710
Diluted (loss) earnings per share attributable to common stockholders:
Continuing operations	$	(0.16	)	$	0.15			$	0.07
Discontinued operations	0.12			0.15				0.20
(Loss) earnings per common share — Diluted	$	(0.04	)	$	0.29		*	$	0.27

* Note: EPS does not foot due to the rounding of the individual calculations.

The computation of diluted EPS for the year ended December 31, 2012 did not include 3.5 million shares of common stock, issuable upon the exercise of outstanding options, at prices ranging from $11.59 to $26.66 as the effect would be anti-dilutive. The computation of diluted EPS for the years ended December 31, 2011 and 2010 did not include 1.9 million shares of common stock for each period, issuable upon the exercise of outstanding options, at prices ranging from $18.88 to $26.66 and $17.79 to $26.66, respectively, because the option prices were greater than the average market prices of our common shares during these respective periods.

The computation of diluted EPS for the years ended December 31, 2012 and 2011 did not include the 11.4 million and 11.2 million, respectively, weighted average joint venture units held by LIH which are convertible into our common stock. The LIH shares are redeemable for cash or, solely at our option, our common stock on a one-for-one basis, subject to certain adjustments. These convertible units are not included in the diluted weighted average share count because their inclusion is anti-dilutive.

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Commitments and Contingencies (Minimum Annual Payments Under Non-Cancellable Operating Leases) (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2012
Commitments and Contingencies Disclosure [Abstract]
2013	$ 1,219
2014	1,191
2015	1,156
2016	1,082
2017	1,074
Thereafter	18,466
Total	$ 24,188

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Summary Of Real Estate And Accumulated Depreciation (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2012
Real Estate and Accumulated Depreciation [Line Items]
INITIAL COST TO COMPANY, Land	$ 1,264,295
INITIAL COST TO COMPANY, Building & Improvements	1,747,160
Capitalized Subsequent to Acquisition or Improvements	330,643	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	1,315,666
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	2,026,432
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	3,342,098
Accumulated Depreciation	335,862
90-30 Metropolitan Avenue [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	NY
INITIAL COST TO COMPANY, Land	5,105
INITIAL COST TO COMPANY, Building & Improvements	21,378
Capitalized Subsequent to Acquisition or Improvements	741	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	5,105
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	22,119
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	27,224
Accumulated Depreciation	737
Date Acquired	Sep. 01, 2011
161 W. 16th Street [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	NY
INITIAL COST TO COMPANY, Land	21,699
INITIAL COST TO COMPANY, Building & Improvements	40,518
Capitalized Subsequent to Acquisition or Improvements	243	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	21,699
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	40,761
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	62,460
Accumulated Depreciation	1,301
Date Acquired	May 16, 2011
1175 Third Avenue [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	NY
Encumbrances	7,001
INITIAL COST TO COMPANY, Land	28,282
INITIAL COST TO COMPANY, Building & Improvements	22,115
Capitalized Subsequent to Acquisition or Improvements	(377)	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	28,070
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	21,950
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	50,020
Accumulated Depreciation	1,039
Date Acquired	Sep. 22, 2010
2400 PGA [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	1,418
Capitalized Subsequent to Acquisition or Improvements	1	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	1,418
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	1
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	1,419
Accumulated Depreciation	1
Date Acquired	Mar. 20, 2006
4101 South I-85 Industrial [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	NC
INITIAL COST TO COMPANY, Land	1,619
INITIAL COST TO COMPANY, Building & Improvements	950
Capitalized Subsequent to Acquisition or Improvements	274	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	1,619
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	1,224
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	2,843
Accumulated Depreciation	327
Date Acquired	Feb. 12, 2003
222 Sutter Street [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	CA
INITIAL COST TO COMPANY, Land	4,778
INITIAL COST TO COMPANY, Building & Improvements	1,469
Capitalized Subsequent to Acquisition or Improvements	0	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	4,778
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	1,469
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	6,247
Date Acquired	Dec. 27, 2012
1225 -1239 Second Avenue [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	NY
Encumbrances	16,655
INITIAL COST TO COMPANY, Land	14,253
INITIAL COST TO COMPANY, Building & Improvements	11,288
Capitalized Subsequent to Acquisition or Improvements	0	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	14,253
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	11,288
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	25,541
Accumulated Depreciation	61
Date Acquired	Oct. 05, 2012
Alafaya Commons [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	6,858
INITIAL COST TO COMPANY, Building & Improvements	10,720
Capitalized Subsequent to Acquisition or Improvements	1,515	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	6,858
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	12,235
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	19,093
Accumulated Depreciation	2,899
Date Acquired	Feb. 12, 2003
Alafaya Village [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	1,444
INITIAL COST TO COMPANY, Building & Improvements	4,967
Capitalized Subsequent to Acquisition or Improvements	673	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	1,444
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	5,640
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	7,084
Accumulated Depreciation	1,251
Date Acquired	Apr. 20, 2006
Ambassador Row [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	LA
INITIAL COST TO COMPANY, Land	3,880
INITIAL COST TO COMPANY, Building & Improvements	10,570
Capitalized Subsequent to Acquisition or Improvements	2,329	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	3,880
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	12,899
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	16,779
Accumulated Depreciation	2,932
Date Acquired	Feb. 12, 2003
Ambassador Row Courtyard [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	LA
INITIAL COST TO COMPANY, Land	3,110
INITIAL COST TO COMPANY, Building & Improvements	9,208
Capitalized Subsequent to Acquisition or Improvements	2,238	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	3,110
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	11,446
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	14,556
Accumulated Depreciation	3,189
Date Acquired	Feb. 12, 2003
Antioch Land [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	CA
INITIAL COST TO COMPANY, Land	7,060
Capitalized Subsequent to Acquisition or Improvements	(150)	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	6,910
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	6,910
Date Acquired	Jan. 04, 2011
Atlantic Village [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	1,190
INITIAL COST TO COMPANY, Building & Improvements	4,760
Capitalized Subsequent to Acquisition or Improvements	5,179	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	1,190
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	9,939
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	11,129
Accumulated Depreciation	2,559
Date Acquired	Jun. 30, 1995
Aventura Square [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL	[2]
Encumbrances	25,944	[2]
INITIAL COST TO COMPANY, Land	46,811	[2]
INITIAL COST TO COMPANY, Building & Improvements	17,851	[2]
Capitalized Subsequent to Acquisition or Improvements	2,015	[1],[2]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	45,855	[2]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	20,822	[2]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	66,677	[2]
Accumulated Depreciation	857	[2]
Date Acquired	Oct. 05, 2011	[2]
Banco Popular Building [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	3,363
INITIAL COST TO COMPANY, Building & Improvements	1,566
Capitalized Subsequent to Acquisition or Improvements	622	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	3,363
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	2,188
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	5,551
Accumulated Depreciation	569
Date Acquired	Sep. 27, 2005
Beauclerc Village [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	651
INITIAL COST TO COMPANY, Building & Improvements	2,242
Capitalized Subsequent to Acquisition or Improvements	1,576	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	651
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	3,818
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	4,469
Accumulated Depreciation	1,955
Date Acquired	May 15, 1998
Bird Ludlum [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	4,088
INITIAL COST TO COMPANY, Building & Improvements	16,318
Capitalized Subsequent to Acquisition or Improvements	1,550	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	4,088
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	17,868
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	21,956
Accumulated Depreciation	8,277
Date Acquired	Aug. 11, 1994
Bluebonnet Village [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	LA
INITIAL COST TO COMPANY, Land	2,290
INITIAL COST TO COMPANY, Building & Improvements	4,168
Capitalized Subsequent to Acquisition or Improvements	2,134	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	2,290
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	6,302
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	8,592
Accumulated Depreciation	1,531
Date Acquired	Feb. 12, 2003
Bluffs Square Shoppes [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	3,232
INITIAL COST TO COMPANY, Building & Improvements	9,917
Capitalized Subsequent to Acquisition or Improvements	832	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	3,232
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	10,749
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	13,981
Accumulated Depreciation	4,101
Date Acquired	Aug. 15, 2000
Boca Village [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	3,385
INITIAL COST TO COMPANY, Building & Improvements	10,174
Capitalized Subsequent to Acquisition or Improvements	2,423	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	3,385
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	12,597
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	15,982
Accumulated Depreciation	2,554
Date Acquired	Aug. 15, 2000
Boynton Plaza [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	2,943
INITIAL COST TO COMPANY, Building & Improvements	9,100
Capitalized Subsequent to Acquisition or Improvements	708	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	2,943
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	9,808
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	12,751
Accumulated Depreciation	3,568
Date Acquired	Aug. 15, 2000
Brawley Commons [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	NC
Encumbrances	6,534
INITIAL COST TO COMPANY, Land	4,206
INITIAL COST TO COMPANY, Building & Improvements	11,556
Capitalized Subsequent to Acquisition or Improvements	(7,682)	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	4,206
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	3,874
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	8,080
Accumulated Depreciation	1,274
Date Acquired	Dec. 31, 2008
BridgeMill [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	GA
Encumbrances	7,528
INITIAL COST TO COMPANY, Land	8,593
INITIAL COST TO COMPANY, Building & Improvements	6,310
Capitalized Subsequent to Acquisition or Improvements	697	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	8,593
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	7,007
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	15,600
Accumulated Depreciation	2,020
Date Acquired	Nov. 13, 2003
Broadway Plaza - Land [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	NY
INITIAL COST TO COMPANY, Land	7,500
INITIAL COST TO COMPANY, Building & Improvements	0
Capitalized Subsequent to Acquisition or Improvements	2,219	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	9,719
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	0
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	9,719
Accumulated Depreciation	0
Date Acquired	Jun. 08, 2012
Broadway Plaza - Land Outparcel [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	NY
INITIAL COST TO COMPANY, Land	2,000
INITIAL COST TO COMPANY, Building & Improvements	0
Capitalized Subsequent to Acquisition or Improvements	236	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	2,236
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	0
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	2,236
Accumulated Depreciation	0
Date Acquired	Oct. 01, 2012
Brookside Plaza [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	CT
INITIAL COST TO COMPANY, Land	2,291
INITIAL COST TO COMPANY, Building & Improvements	26,260
Capitalized Subsequent to Acquisition or Improvements	7,680	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	2,291
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	33,940
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	36,231
Accumulated Depreciation	6,584
Date Acquired	Jan. 12, 2006
Buckhead Station [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	GA
Encumbrances	24,166
INITIAL COST TO COMPANY, Land	27,138
INITIAL COST TO COMPANY, Building & Improvements	45,277
Capitalized Subsequent to Acquisition or Improvements	2,036	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	27,138
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	47,313
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	74,451
Accumulated Depreciation	7,707
Date Acquired	Mar. 09, 2007
Butler Creek [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	GA
INITIAL COST TO COMPANY, Land	2,808
INITIAL COST TO COMPANY, Building & Improvements	7,648
Capitalized Subsequent to Acquisition or Improvements	(1,169)	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	9,287
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	0
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	9,287
Accumulated Depreciation	0
Date Acquired	Jul. 15, 2003
Canyon Trails [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	AZ
INITIAL COST TO COMPANY, Land	12,087
INITIAL COST TO COMPANY, Building & Improvements	11,168
Capitalized Subsequent to Acquisition or Improvements	(1,889)	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	12,087
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	9,279
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	21,366
Accumulated Depreciation	1,255
Date Acquired	Dec. 30, 2010
Cashmere Corners [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	1,947
INITIAL COST TO COMPANY, Building & Improvements	5,707
Capitalized Subsequent to Acquisition or Improvements	(78)	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	1,947
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	5,629
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	7,576
Accumulated Depreciation	1,665
Date Acquired	Aug. 15, 2000
Centre Pointe Plaza [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	NC
INITIAL COST TO COMPANY, Land	2,081
INITIAL COST TO COMPANY, Building & Improvements	4,411
Capitalized Subsequent to Acquisition or Improvements	1,174	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	2,081
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	5,585
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	7,666
Accumulated Depreciation	1,482
Date Acquired	Feb. 12, 2003
Chapel Trail Plaza [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	3,641
INITIAL COST TO COMPANY, Building & Improvements	5,777
Capitalized Subsequent to Acquisition or Improvements	3,027	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	3,641
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	8,804
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	12,445
Accumulated Depreciation	2,127
Date Acquired	May 10, 2006
Charlotte Square [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	4,155
INITIAL COST TO COMPANY, Building & Improvements	4,414
Capitalized Subsequent to Acquisition or Improvements	105	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	4,155
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	4,519
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	8,674
Accumulated Depreciation	1,192
Date Acquired	Feb. 12, 2003
Chastain Square [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	GA
Encumbrances	0
INITIAL COST TO COMPANY, Land	10,689
INITIAL COST TO COMPANY, Building & Improvements	5,937
Capitalized Subsequent to Acquisition or Improvements	721	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	10,689
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	6,658
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	17,347
Accumulated Depreciation	1,658
Date Acquired	Feb. 12, 2003
Chestnut Square [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	NC
INITIAL COST TO COMPANY, Land	1,189
INITIAL COST TO COMPANY, Building & Improvements	1,326
Capitalized Subsequent to Acquisition or Improvements	3,563	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	1,189
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	4,889
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	6,078
Accumulated Depreciation	810
Date Acquired	Feb. 12, 2003
Circle Center West [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	CA
INITIAL COST TO COMPANY, Land	10,800
INITIAL COST TO COMPANY, Building & Improvements	10,340
Capitalized Subsequent to Acquisition or Improvements	667	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	10,800
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	11,007
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	21,807
Accumulated Depreciation	863
Date Acquired	Mar. 15, 2011
Commerce Crossing [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	NY
INITIAL COST TO COMPANY, Land	25,184
INITIAL COST TO COMPANY, Building & Improvements	19,462
Capitalized Subsequent to Acquisition or Improvements	0	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	25,184
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	19,462
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	44,646
Accumulated Depreciation	180
Date Acquired	Feb. 12, 2003
Compo Acres Shopping Center [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	CT
INITIAL COST TO COMPANY, Land	18,305
INITIAL COST TO COMPANY, Building & Improvements	12,195
Capitalized Subsequent to Acquisition or Improvements	66	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	18,305
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	12,261
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	30,566
Accumulated Depreciation	350
Date Acquired	Mar. 01, 2012
Copps Hill Plaza [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	CT
Encumbrances	18,109
INITIAL COST TO COMPANY, Land	14,146
INITIAL COST TO COMPANY, Building & Improvements	24,626
Capitalized Subsequent to Acquisition or Improvements	104	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	14,198
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	24,678
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	38,876
Accumulated Depreciation	2,627
Date Acquired	Mar. 31, 2010
Coral Reef Shopping Center [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	16,464
INITIAL COST TO COMPANY, Building & Improvements	4,376
Capitalized Subsequent to Acquisition or Improvements	1,627	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	17,515
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	4,952
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	22,467
Accumulated Depreciation	887
Date Acquired	Sep. 01, 2006
Country Club Plaza [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	LA
INITIAL COST TO COMPANY, Land	1,294
INITIAL COST TO COMPANY, Building & Improvements	2,060
Capitalized Subsequent to Acquisition or Improvements	13	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	1,294
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	2,073
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	3,367
Accumulated Depreciation	513
Date Acquired	Feb. 12, 2003
Countryside Shops [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	11,343
INITIAL COST TO COMPANY, Building & Improvements	13,853
Capitalized Subsequent to Acquisition or Improvements	3,320	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	11,343
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	17,173
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	28,516
Accumulated Depreciation	4,227
Date Acquired	Feb. 12, 2003
Crossroads Square [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	3,592
INITIAL COST TO COMPANY, Building & Improvements	4,401
Capitalized Subsequent to Acquisition or Improvements	6,112	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	3,520
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	10,585
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	14,105
Accumulated Depreciation	2,703
Date Acquired	Aug. 15, 2000
Culver Center [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	CA
Encumbrances	64,000
INITIAL COST TO COMPANY, Land	74,868
INITIAL COST TO COMPANY, Building & Improvements	59,958
Capitalized Subsequent to Acquisition or Improvements	4,035	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	75,214
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	63,647
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	138,861
Accumulated Depreciation	1,988
Date Acquired	Nov. 16, 2011
CVS Plaza [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	657
INITIAL COST TO COMPANY, Building & Improvements	2,803
Capitalized Subsequent to Acquisition or Improvements	1,314	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	657
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	4,117
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	4,774
Accumulated Depreciation	893
Date Acquired	Jul. 23, 1999
Danbury Green [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	CT
Encumbrances	24,700
INITIAL COST TO COMPANY, Land	17,547
INITIAL COST TO COMPANY, Building & Improvements	21,560
Capitalized Subsequent to Acquisition or Improvements	8,400	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	18,143
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	29,364
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	47,507
Accumulated Depreciation	1,685
Date Acquired	Oct. 27, 2011
Daniel Village [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	GA
Encumbrances	0
INITIAL COST TO COMPANY, Land	3,439
INITIAL COST TO COMPANY, Building & Improvements	8,352
Capitalized Subsequent to Acquisition or Improvements	158	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	3,439
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	8,510
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	11,949
Accumulated Depreciation	2,113
Date Acquired	Feb. 12, 2003
Danville - San Ramon Medical [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	CA
Encumbrances	13,401
INITIAL COST TO COMPANY, Land	11,088
INITIAL COST TO COMPANY, Building & Improvements	4,171
Capitalized Subsequent to Acquisition or Improvements	858	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	11,088
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	5,029
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	16,117
Accumulated Depreciation	929
Date Acquired	Jan. 04, 2011
Daninor Plaza [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	CT
Encumbrances	18,658
INITIAL COST TO COMPANY, Land	0
INITIAL COST TO COMPANY, Building & Improvements	16,991
Capitalized Subsequent to Acquisition or Improvements	0	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	0
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	16,991
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	16,991
Accumulated Depreciation	317
Date Acquired	Aug. 28, 2012
Douglas Commons [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	GA
Encumbrances	0
INITIAL COST TO COMPANY, Land	3,681
INITIAL COST TO COMPANY, Building & Improvements	7,588
Capitalized Subsequent to Acquisition or Improvements	220	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	3,681
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	7,808
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	11,489
Accumulated Depreciation	1,998
Date Acquired	Feb. 12, 2003
El Novillo [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	250
INITIAL COST TO COMPANY, Building & Improvements	1,000
Capitalized Subsequent to Acquisition or Improvements	162	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	250
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	1,162
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	1,412
Accumulated Depreciation	416
Date Acquired	Apr. 30, 1998
Elmwood Oaks [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	LA
INITIAL COST TO COMPANY, Land	4,088
INITIAL COST TO COMPANY, Building & Improvements	8,221
Capitalized Subsequent to Acquisition or Improvements	705	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	4,088
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	8,926
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	13,014
Accumulated Depreciation	2,452
Date Acquired	Feb. 12, 2003
Fairview Oaks [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	GA
Encumbrances	0
INITIAL COST TO COMPANY, Land	1,929
INITIAL COST TO COMPANY, Building & Improvements	6,187
Capitalized Subsequent to Acquisition or Improvements	87	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	8,203
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	0
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	8,203
Accumulated Depreciation	0
Date Acquired	Feb. 12, 2003
Forest Village [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	3,397
INITIAL COST TO COMPANY, Building & Improvements	3,206
Capitalized Subsequent to Acquisition or Improvements	2,347	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	3,397
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	5,553
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	8,950
Accumulated Depreciation	1,701
Date Acquired	Jan. 28, 1999
Ft. Caroline [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	701
INITIAL COST TO COMPANY, Building & Improvements	2,800
Capitalized Subsequent to Acquisition or Improvements	735	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	700
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	3,535
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	4,235
Accumulated Depreciation	1,622
Date Acquired	Jan. 24, 1994
Galleria [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	NC
INITIAL COST TO COMPANY, Land	1,493
INITIAL COST TO COMPANY, Building & Improvements	3,875
Capitalized Subsequent to Acquisition or Improvements	(1,608)	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	3,760
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	0
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	3,760
Accumulated Depreciation	0
Date Acquired	Feb. 12, 2003
Gateway Plaza At Aventura [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	2,301
INITIAL COST TO COMPANY, Building & Improvements	5,529
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	2,301
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	5,529
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	7,830
Accumulated Depreciation	613
Date Acquired	Mar. 19, 2010
Glengary Shoppes [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
Encumbrances	16,079
INITIAL COST TO COMPANY, Land	7,488
INITIAL COST TO COMPANY, Building & Improvements	13,969
Capitalized Subsequent to Acquisition or Improvements	384	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	7,488
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	14,353
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	21,841
Accumulated Depreciation	1,711
Date Acquired	Dec. 31, 2008
Grassland Crossing [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	GA
Encumbrances	0
INITIAL COST TO COMPANY, Land	3,656
INITIAL COST TO COMPANY, Building & Improvements	7,885
Capitalized Subsequent to Acquisition or Improvements	(1,469)	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	10,072
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	0
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	10,072
Accumulated Depreciation	0
Date Acquired	Feb. 12, 2003
Greenwood [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	4,117
INITIAL COST TO COMPANY, Building & Improvements	10,295
Capitalized Subsequent to Acquisition or Improvements	2,967	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	4,117
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	13,262
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	17,379
Accumulated Depreciation	3,309
Date Acquired	Feb. 12, 2003
Hairston Center [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	GA
INITIAL COST TO COMPANY, Land	1,644
INITIAL COST TO COMPANY, Building & Improvements	642
Capitalized Subsequent to Acquisition or Improvements	28	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	1,644
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	670
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	2,314
Accumulated Depreciation	121
Date Acquired	Aug. 25, 2005
Hamilton Ridge [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	GA
INITIAL COST TO COMPANY, Land	5,612
INITIAL COST TO COMPANY, Building & Improvements	7,167
Capitalized Subsequent to Acquisition or Improvements	(898)	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	11,881
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	0
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	11,881
Accumulated Depreciation	0
Date Acquired	Dec. 18, 2003
Hammocks Town Center [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	16,856
INITIAL COST TO COMPANY, Building & Improvements	11,392
Capitalized Subsequent to Acquisition or Improvements	592	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	16,856
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	11,984
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	28,840
Accumulated Depreciation	1,370
Date Acquired	Dec. 31, 2008
Hampton Oaks [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	GA
INITIAL COST TO COMPANY, Land	835
Capitalized Subsequent to Acquisition or Improvements	1,557	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	1,172
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	1,221
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	2,393
Accumulated Depreciation	266
Date Acquired	Nov. 30, 2006
Homestead Gas Station [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	1,170
Capitalized Subsequent to Acquisition or Improvements	100	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	1,170
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	100
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	1,270
Accumulated Depreciation	6
Date Acquired	Nov. 08, 2004
Kirkman Shoppes [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	3,222
INITIAL COST TO COMPANY, Building & Improvements	9,714
Capitalized Subsequent to Acquisition or Improvements	325	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	3,222
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	10,039
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	13,261
Accumulated Depreciation	3,743
Date Acquired	Aug. 15, 2000
Lago Mar [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	4,216
INITIAL COST TO COMPANY, Building & Improvements	6,609
Capitalized Subsequent to Acquisition or Improvements	1,221	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	4,216
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	7,830
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	12,046
Accumulated Depreciation	1,956
Date Acquired	Feb. 12, 2003
Lake Mary [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	7,092
INITIAL COST TO COMPANY, Building & Improvements	13,878
Capitalized Subsequent to Acquisition or Improvements	8,092	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	7,092
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	21,970
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	29,062
Accumulated Depreciation	8,696
Date Acquired	Nov. 09, 1995
Lantana Village [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	1,350
INITIAL COST TO COMPANY, Building & Improvements	7,978
Capitalized Subsequent to Acquisition or Improvements	927	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	1,350
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	8,905
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	10,255
Accumulated Depreciation	3,139
Date Acquired	Jan. 06, 1998
Laurel Walk Apartments [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	NC
INITIAL COST TO COMPANY, Land	105
INITIAL COST TO COMPANY, Building & Improvements	111
Capitalized Subsequent to Acquisition or Improvements	0	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	105
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	111
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	216
Accumulated Depreciation	20
Date Acquired	Oct. 31, 2005
Lutz Lake [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	3,619
INITIAL COST TO COMPANY, Building & Improvements	5,199
Capitalized Subsequent to Acquisition or Improvements	1,159	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	3,619
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	6,358
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	9,977
Accumulated Depreciation	1,586
Date Acquired	Feb. 12, 2003
Mableton Crossing [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	GA
Encumbrances	0
INITIAL COST TO COMPANY, Land	3,331
INITIAL COST TO COMPANY, Building & Improvements	6,403
Capitalized Subsequent to Acquisition or Improvements	(1,180)	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	8,555
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	0
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	8,555
Accumulated Depreciation	0
Date Acquired	Feb. 12, 2003
Macland Pointe [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	GA
INITIAL COST TO COMPANY, Land	3,462
INITIAL COST TO COMPANY, Building & Improvements	4,814
Capitalized Subsequent to Acquisition or Improvements	(894)	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	7,382
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	0
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	7,382
Accumulated Depreciation	0
Date Acquired	Feb. 12, 2003
Madison Centre [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	AL
Encumbrances	0
INITIAL COST TO COMPANY, Land	1,424
INITIAL COST TO COMPANY, Building & Improvements	5,187
Capitalized Subsequent to Acquisition or Improvements	23	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	1,424
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	5,210
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	6,634
Accumulated Depreciation	1,859
Date Acquired	Feb. 12, 2003
Magnolia Shoppes [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
Encumbrances	13,807
INITIAL COST TO COMPANY, Land	7,176
INITIAL COST TO COMPANY, Building & Improvements	10,886
Capitalized Subsequent to Acquisition or Improvements	487	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	7,176
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	11,373
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	18,549
Accumulated Depreciation	1,317
Date Acquired	Dec. 31, 2008
Market Place [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	GA
INITIAL COST TO COMPANY, Land	1,667
INITIAL COST TO COMPANY, Building & Improvements	4,078
Capitalized Subsequent to Acquisition or Improvements	106	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	1,577
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	4,274
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	5,851
Accumulated Depreciation	1,077
Date Acquired	Feb. 12, 2003
Marketplace Shopping Center [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	CA
Encumbrances	16,164
INITIAL COST TO COMPANY, Land	8,727
INITIAL COST TO COMPANY, Building & Improvements	22,188
Capitalized Subsequent to Acquisition or Improvements	2,095	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	8,737
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	24,273
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	33,010
Accumulated Depreciation	1,360
Date Acquired	Jan. 04, 2011
McAlphin Square [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	GA
INITIAL COST TO COMPANY, Land	3,536
INITIAL COST TO COMPANY, Building & Improvements	6,963
Capitalized Subsequent to Acquisition or Improvements	328	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	3,536
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	7,291
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	10,827
Accumulated Depreciation	2,009
Date Acquired	Feb. 12, 2003
Meadows [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	2,304
INITIAL COST TO COMPANY, Building & Improvements	6,670
Capitalized Subsequent to Acquisition or Improvements	202	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	2,304
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	6,872
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	9,176
Accumulated Depreciation	1,895
Date Acquired	May 23, 2002
Medical & Merchants [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	10,323
INITIAL COST TO COMPANY, Building & Improvements	12,174
Capitalized Subsequent to Acquisition or Improvements	(9,184)	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	10,323
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	2,989
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	13,312
Accumulated Depreciation	3,018
Date Acquired	May 27, 2004
Middle Beach Shopping Center [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	2,195
INITIAL COST TO COMPANY, Building & Improvements	5,542
Capitalized Subsequent to Acquisition or Improvements	(3,948)	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	871
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	2,918
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	3,789
Accumulated Depreciation	1,217
Date Acquired	Dec. 23, 2003
North Village Center [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	SC
INITIAL COST TO COMPANY, Land	2,860
INITIAL COST TO COMPANY, Building & Improvements	2,774
Capitalized Subsequent to Acquisition or Improvements	(3,154)	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	2,480
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	0
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	2,480
Accumulated Depreciation	0
Date Acquired	Feb. 12, 2003
N S B Regional [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	3,217
INITIAL COST TO COMPANY, Building & Improvements	8,896
Capitalized Subsequent to Acquisition or Improvements	269	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	3,217
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	9,165
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	12,382
Accumulated Depreciation	2,270
Date Acquired	Feb. 12, 2003
Oak Hill [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	690
INITIAL COST TO COMPANY, Building & Improvements	2,760
Capitalized Subsequent to Acquisition or Improvements	1,564	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	690
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	4,324
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	5,014
Accumulated Depreciation	1,472
Date Acquired	Dec. 07, 1995
Oakbrook Square [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL	[2]
INITIAL COST TO COMPANY, Land	7,706	[2]
INITIAL COST TO COMPANY, Building & Improvements	16,079	[2]
Capitalized Subsequent to Acquisition or Improvements	4,215	[1],[2]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	7,706	[2]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	20,294	[2]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	28,000	[2]
Accumulated Depreciation	5,883	[2]
Date Acquired	Aug. 15, 2000	[2]
Oaktree Plaza [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	1,589
INITIAL COST TO COMPANY, Building & Improvements	2,275
Capitalized Subsequent to Acquisition or Improvements	283	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	1,589
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	2,558
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	4,147
Accumulated Depreciation	443
Date Acquired	Oct. 16, 2006
Old Kings Commons [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	1,420
INITIAL COST TO COMPANY, Building & Improvements	5,005
Capitalized Subsequent to Acquisition or Improvements	429	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	1,420
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	5,434
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	6,854
Accumulated Depreciation	1,352
Date Acquired	Feb. 12, 2003
Pablo Plaza [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
Encumbrances	0
INITIAL COST TO COMPANY, Land	5,327
INITIAL COST TO COMPANY, Building & Improvements	12,676
Capitalized Subsequent to Acquisition or Improvements	379	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	5,424
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	12,958
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	18,382
Accumulated Depreciation	1,583
Date Acquired	Aug. 31, 2010
Park Promenade [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	2,670
INITIAL COST TO COMPANY, Building & Improvements	6,444
Capitalized Subsequent to Acquisition or Improvements	345	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	2,670
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	6,789
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	9,459
Accumulated Depreciation	2,510
Date Acquired	Jan. 31, 1999
Paulding Commons [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	GA
Encumbrances	0
INITIAL COST TO COMPANY, Land	3,848
INITIAL COST TO COMPANY, Building & Improvements	11,985
Capitalized Subsequent to Acquisition or Improvements	4,784	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	3,848
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	16,769
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	20,617
Accumulated Depreciation	3,263
Date Acquired	Feb. 12, 2003
Pavilion [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	10,827
INITIAL COST TO COMPANY, Building & Improvements	11,299
Capitalized Subsequent to Acquisition or Improvements	6,575	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	10,827
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	17,874
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	28,701
Accumulated Depreciation	3,914
Date Acquired	Feb. 04, 2004
Piedmont Peachtree Crossing [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	GA
INITIAL COST TO COMPANY, Land	34,338
INITIAL COST TO COMPANY, Building & Improvements	17,992
Capitalized Subsequent to Acquisition or Improvements	830	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	34,338
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	18,822
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	53,160
Accumulated Depreciation	3,717
Date Acquired	Mar. 06, 2006
Pine Island [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	8,557
INITIAL COST TO COMPANY, Building & Improvements	12,860
Capitalized Subsequent to Acquisition or Improvements	2,467	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	8,557
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	15,327
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	23,884
Accumulated Depreciation	4,862
Date Acquired	Aug. 26, 1999
Pine Ridge Square [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	6,528
INITIAL COST TO COMPANY, Building & Improvements	9,850
Capitalized Subsequent to Acquisition or Improvements	6,657	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	6,528
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	16,507
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	23,035
Accumulated Depreciation	2,909
Date Acquired	Feb. 12, 2003
Plaza Acadienne [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	LA
INITIAL COST TO COMPANY, Land	2,108
INITIAL COST TO COMPANY, Building & Improvements	168
Capitalized Subsequent to Acquisition or Improvements	159	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	2,108
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	327
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	2,435
Accumulated Depreciation	74
Date Acquired	Feb. 12, 2003
Plaza Alegre [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	2,011
INITIAL COST TO COMPANY, Building & Improvements	9,191
Capitalized Subsequent to Acquisition or Improvements	217	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	1,866
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	9,553
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	11,419
Accumulated Depreciation	3,499
Date Acquired	Feb. 26, 2002
Plaza Escuela [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	CA
Encumbrances	0
INITIAL COST TO COMPANY, Land	10,041
INITIAL COST TO COMPANY, Building & Improvements	63,038
Capitalized Subsequent to Acquisition or Improvements	1,175	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	10,041
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	64,213
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	74,254
Accumulated Depreciation	2,726
Date Acquired	Jan. 04, 2011
Point Royale [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	3,720
INITIAL COST TO COMPANY, Building & Improvements	5,005
Capitalized Subsequent to Acquisition or Improvements	3,338	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	4,784
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	7,279
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	12,063
Accumulated Depreciation	3,053
Date Acquired	Jul. 27, 1995
Post Road Plaza [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	CT
INITIAL COST TO COMPANY, Land	9,807
INITIAL COST TO COMPANY, Building & Improvements	2,707
Capitalized Subsequent to Acquisition or Improvements	0	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	9,807
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	2,707
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	12,514
Accumulated Depreciation	116
Date Acquired	Mar. 01, 2012
Potrero Center [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	CA
INITIAL COST TO COMPANY, Land	48,594
INITIAL COST TO COMPANY, Building & Improvements	74,701
Capitalized Subsequent to Acquisition or Improvements	55	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	48,594
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	74,756
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	123,350
Accumulated Depreciation	1,802
Date Acquired	Mar. 01, 2012
Powers Ferry Plaza [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	GA
INITIAL COST TO COMPANY, Land	3,236
INITIAL COST TO COMPANY, Building & Improvements	5,227
Capitalized Subsequent to Acquisition or Improvements	548	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	3,236
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	5,775
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	9,011
Accumulated Depreciation	1,790
Date Acquired	Feb. 12, 2003
Prosperity Centre [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	4,597
INITIAL COST TO COMPANY, Building & Improvements	13,838
Capitalized Subsequent to Acquisition or Improvements	956	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	4,597
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	14,794
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	19,391
Accumulated Depreciation	4,864
Date Acquired	Aug. 15, 2000
Providence Square [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	NC
INITIAL COST TO COMPANY, Land	1,112
INITIAL COST TO COMPANY, Building & Improvements	2,575
Capitalized Subsequent to Acquisition or Improvements	(1,092)	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	567
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	2,028
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	2,595
Accumulated Depreciation	788
Date Acquired	Feb. 12, 2003
Quincy Star Market [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	MA
INITIAL COST TO COMPANY, Land	6,121
INITIAL COST TO COMPANY, Building & Improvements	18,444
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	6,121
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	18,444
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	24,565
Accumulated Depreciation	4,091
Date Acquired	Oct. 07, 2004
Ralphs Circle Center [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	CA
INITIAL COST TO COMPANY, Land	9,833
INITIAL COST TO COMPANY, Building & Improvements	5,856
Capitalized Subsequent to Acquisition or Improvements	890	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	9,833
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	6,746
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	16,579
Accumulated Depreciation	462
Date Acquired	Jul. 14, 2011
Regency Crossing [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	1,982
INITIAL COST TO COMPANY, Building & Improvements	6,524
Capitalized Subsequent to Acquisition or Improvements	102	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	1,982
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	6,626
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	8,608
Accumulated Depreciation	1,692
Date Acquired	Feb. 12, 2003
Ridge Plaza [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	3,905
INITIAL COST TO COMPANY, Building & Improvements	7,450
Capitalized Subsequent to Acquisition or Improvements	1,659	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	3,905
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	9,109
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	13,014
Accumulated Depreciation	3,217
Date Acquired	Aug. 15, 2000
River Green Land [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	GA
INITIAL COST TO COMPANY, Land	2,587
Capitalized Subsequent to Acquisition or Improvements	(1,087)	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	695
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	805
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	1,500
Date Acquired	Sep. 27, 2005
Riverside Square [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	6,423
INITIAL COST TO COMPANY, Building & Improvements	8,260
Capitalized Subsequent to Acquisition or Improvements	389	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	5,623
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	9,449
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	15,072
Accumulated Depreciation	2,417
Date Acquired	Feb. 12, 2003
Riverview Shopping Center [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	NC
INITIAL COST TO COMPANY, Land	2,202
INITIAL COST TO COMPANY, Building & Improvements	4,745
Capitalized Subsequent to Acquisition or Improvements	2,167	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	2,202
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	6,912
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	9,114
Accumulated Depreciation	1,610
Date Acquired	Feb. 12, 2003
Ryanwood Square [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	2,281
INITIAL COST TO COMPANY, Building & Improvements	6,880
Capitalized Subsequent to Acquisition or Improvements	1,044	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	2,608
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	7,597
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	10,205
Accumulated Depreciation	2,117
Date Acquired	Aug. 15, 2000
Salerno Village Square [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	2,291
INITIAL COST TO COMPANY, Building & Improvements	1,511
Capitalized Subsequent to Acquisition or Improvements	5,242	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	2,291
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	6,753
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	9,044
Accumulated Depreciation	1,533
Date Acquired	May 06, 2002
Sawgrass Promenade [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	3,280
INITIAL COST TO COMPANY, Building & Improvements	9,351
Capitalized Subsequent to Acquisition or Improvements	2,314	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	3,280
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	11,665
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	14,945
Accumulated Depreciation	4,239
Date Acquired	Aug. 15, 2000
Serramonte Shopping Center [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	CA
INITIAL COST TO COMPANY, Land	81,049
INITIAL COST TO COMPANY, Building & Improvements	119,765
Capitalized Subsequent to Acquisition or Improvements	15,087	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	80,999
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	134,902
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	215,901
Accumulated Depreciation	10,527
Date Acquired	Jan. 04, 2011
Seven Hills [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	2,167
INITIAL COST TO COMPANY, Building & Improvements	5,167
Capitalized Subsequent to Acquisition or Improvements	638	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	2,167
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	5,805
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	7,972
Accumulated Depreciation	1,345
Date Acquired	Feb. 12, 2003
Shaws At Medford [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	MA
INITIAL COST TO COMPANY, Land	7,750
INITIAL COST TO COMPANY, Building & Improvements	11,390
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	7,750
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	11,390
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	19,140
Accumulated Depreciation	2,515
Date Acquired	Oct. 07, 2004
Shaws At Plymouth [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	MA
INITIAL COST TO COMPANY, Land	4,917
INITIAL COST TO COMPANY, Building & Improvements	12,199
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	4,917
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	12,199
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	17,116
Accumulated Depreciation	2,691
Date Acquired	Oct. 07, 2004
Sheridan [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
Encumbrances	61,488
INITIAL COST TO COMPANY, Land	38,888
INITIAL COST TO COMPANY, Building & Improvements	36,241
Capitalized Subsequent to Acquisition or Improvements	6,561	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	38,888
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	42,802
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	81,690
Accumulated Depreciation	10,710
Date Acquired	Jul. 14, 2003
Sherwood South [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	LA
INITIAL COST TO COMPANY, Land	746
INITIAL COST TO COMPANY, Building & Improvements	2,412
Capitalized Subsequent to Acquisition or Improvements	1,068	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	746
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	3,480
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	4,226
Accumulated Depreciation	1,130
Date Acquired	Feb. 12, 2003
Shipyard Plaza [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	MS
INITIAL COST TO COMPANY, Land	1,337
INITIAL COST TO COMPANY, Building & Improvements	1,653
Capitalized Subsequent to Acquisition or Improvements	283	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	1,337
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	1,936
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	3,273
Accumulated Depreciation	613
Date Acquired	Feb. 12, 2003
Shoppes At Andros Isle [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	6,009
INITIAL COST TO COMPANY, Building & Improvements	7,832
Capitalized Subsequent to Acquisition or Improvements	92	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	6,009
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	7,924
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	13,933
Accumulated Depreciation	1,295
Date Acquired	Dec. 08, 2006
Shoppes At Silverlakes [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	10,306
INITIAL COST TO COMPANY, Building & Improvements	10,131
Capitalized Subsequent to Acquisition or Improvements	2,621	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	10,306
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	12,752
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	23,058
Accumulated Depreciation	3,084
Date Acquired	Feb. 12, 2003
Shoppes Of Eastwood [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	1,688
INITIAL COST TO COMPANY, Building & Improvements	6,976
Capitalized Subsequent to Acquisition or Improvements	(1,774)	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	6,890
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	0
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	6,890
Accumulated Depreciation	0
Date Acquired	Jun. 28, 2002
Shoppes Of Jonathan's Landing [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	1,146
INITIAL COST TO COMPANY, Building & Improvements	3,442
Capitalized Subsequent to Acquisition or Improvements	244	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	1,146
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	3,686
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	4,832
Accumulated Depreciation	1,192
Date Acquired	Aug. 15, 2000
Shoppes Of North Port [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	1,452
INITIAL COST TO COMPANY, Building & Improvements	5,807
Capitalized Subsequent to Acquisition or Improvements	1,123	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	1,452
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	6,930
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	8,382
Accumulated Depreciation	1,930
Date Acquired	Dec. 05, 2000
Shops At Skylake [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	15,226
INITIAL COST TO COMPANY, Building & Improvements	7,206
Capitalized Subsequent to Acquisition or Improvements	24,884	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	15,226
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	32,090
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	47,316
Accumulated Depreciation	8,358
Date Acquired	Aug. 19, 1997
Siegen Village [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	LA
INITIAL COST TO COMPANY, Land	4,329
INITIAL COST TO COMPANY, Building & Improvements	9,691
Capitalized Subsequent to Acquisition or Improvements	5	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	4,329
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	9,696
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	14,025
Accumulated Depreciation	2,867
Date Acquired	Feb. 12, 2003
Smyth Valley Crossing [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	VA
INITIAL COST TO COMPANY, Land	2,537
INITIAL COST TO COMPANY, Building & Improvements	3,890
Capitalized Subsequent to Acquisition or Improvements	690	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	2,537
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	4,580
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	7,117
Accumulated Depreciation	1,003
Date Acquired	Feb. 12, 2003
South Beach [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	9,545
INITIAL COST TO COMPANY, Building & Improvements	19,228
Capitalized Subsequent to Acquisition or Improvements	5,197	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	9,545
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	24,425
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	33,970
Accumulated Depreciation	6,398
Date Acquired	Feb. 12, 2003
South Point [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
Encumbrances	6,924
INITIAL COST TO COMPANY, Land	7,142
INITIAL COST TO COMPANY, Building & Improvements	7,098
Capitalized Subsequent to Acquisition or Improvements	76	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	7,142
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	7,174
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	14,316
Accumulated Depreciation	1,139
Date Acquired	Dec. 08, 2006
Southbury Green [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	CT
Encumbrances	21,000
INITIAL COST TO COMPANY, Land	18,483
INITIAL COST TO COMPANY, Building & Improvements	31,857
Capitalized Subsequent to Acquisition or Improvements	5,254	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	18,744
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	36,850
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	55,594
Accumulated Depreciation	1,578
Date Acquired	Oct. 27, 2011
Spalding Village [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	GA
INITIAL COST TO COMPANY, Land	4,709
INITIAL COST TO COMPANY, Building & Improvements	4,972
Capitalized Subsequent to Acquisition or Improvements	286	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	4,709
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	5,258
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	9,967
Accumulated Depreciation	1,636
Date Acquired	Feb. 12, 2003
St Lucie Land [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	7,728
Capitalized Subsequent to Acquisition or Improvements	(2,128)	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	3,640
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	1,960
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	5,600
Date Acquired	Nov. 27, 2006
Stanley Market Place [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	NC
INITIAL COST TO COMPANY, Land	396
INITIAL COST TO COMPANY, Building & Improvements	669
Capitalized Subsequent to Acquisition or Improvements	4,954	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	396
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	5,623
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	6,019
Accumulated Depreciation	924
Date Acquired	Feb. 12, 2003
Star's At Cambridge [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	MA
INITIAL COST TO COMPANY, Land	11,358
INITIAL COST TO COMPANY, Building & Improvements	13,854
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	11,358
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	13,854
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	25,212
Accumulated Depreciation	3,062
Date Acquired	Oct. 07, 2004
Summerlin Square [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
Encumbrances	0
INITIAL COST TO COMPANY, Land	2,187
INITIAL COST TO COMPANY, Building & Improvements	7,989
Capitalized Subsequent to Acquisition or Improvements	(2,995)	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	6,472
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	709
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	7,181
Accumulated Depreciation	258
Date Acquired	Jun. 10, 1998
Sun Point [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	4,025
INITIAL COST TO COMPANY, Building & Improvements	4,228
Capitalized Subsequent to Acquisition or Improvements	1,772	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	4,025
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	6,000
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	10,025
Accumulated Depreciation	2,099
Date Acquired	May 05, 2006
Sunlake-Equity One LLC [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	9,861
Capitalized Subsequent to Acquisition or Improvements	34,610	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	16,589
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	27,882
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	44,471
Accumulated Depreciation	1,984
Date Acquired	Feb. 01, 2005
Tamarac Town Square [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	4,742
INITIAL COST TO COMPANY, Building & Improvements	5,610
Capitalized Subsequent to Acquisition or Improvements	751	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	4,643
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	6,460
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	11,103
Accumulated Depreciation	1,793
Date Acquired	Feb. 12, 2003
Tarpon Heights [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	LA
INITIAL COST TO COMPANY, Land	1,133
INITIAL COST TO COMPANY, Building & Improvements	631
Capitalized Subsequent to Acquisition or Improvements	223	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	1,133
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	854
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	1,987
Accumulated Depreciation	259
Date Acquired	Feb. 12, 2003
TD Bank Skylake [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	2,041
Capitalized Subsequent to Acquisition or Improvements	453	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	2,064
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	430
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	2,494
Accumulated Depreciation	16
Date Acquired	Dec. 17, 2009
The Boulevard [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	LA
INITIAL COST TO COMPANY, Land	1,360
INITIAL COST TO COMPANY, Building & Improvements	1,675
Capitalized Subsequent to Acquisition or Improvements	628	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	1,360
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	2,303
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	3,663
Accumulated Depreciation	782
Date Acquired	Feb. 12, 2003
The Crossing [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	LA
INITIAL COST TO COMPANY, Land	1,591
INITIAL COST TO COMPANY, Building & Improvements	3,650
Capitalized Subsequent to Acquisition or Improvements	789	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	1,591
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	4,439
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	6,030
Accumulated Depreciation	1,102
Date Acquired	Feb. 12, 2003
Plaza At St. Lucie West [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	790
INITIAL COST TO COMPANY, Building & Improvements	3,082
Capitalized Subsequent to Acquisition or Improvements	964	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	790
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	4,046
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	4,836
Accumulated Depreciation	728
Date Acquired	Aug. 15, 2000
Thomasville Commons [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	NC
INITIAL COST TO COMPANY, Land	1,212
INITIAL COST TO COMPANY, Building & Improvements	4,567
Capitalized Subsequent to Acquisition or Improvements	1,829	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	1,212
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	6,396
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	7,608
Accumulated Depreciation	1,567
Date Acquired	Feb. 12, 2003
Town & Country [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	2,503
INITIAL COST TO COMPANY, Building & Improvements	4,397
Capitalized Subsequent to Acquisition or Improvements	277	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	2,354
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	4,823
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	7,177
Accumulated Depreciation	1,348
Date Acquired	Feb. 12, 2003
Treasure Coast Plaza [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL	[2]
INITIAL COST TO COMPANY, Land	1,359	[2]
INITIAL COST TO COMPANY, Building & Improvements	9,728	[2]
Capitalized Subsequent to Acquisition or Improvements	911	[1],[2]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	1,359	[2]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	10,639	[2]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	11,998	[2]
Accumulated Depreciation	2,608	[2]
Date Acquired	Feb. 12, 2003	[2]
Unigold [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	4,304
INITIAL COST TO COMPANY, Building & Improvements	6,413
Capitalized Subsequent to Acquisition or Improvements	1,587	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	4,304
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	8,000
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	12,304
Accumulated Depreciation	2,080
Date Acquired	Feb. 12, 2003
Union City Commons (Land) [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	GA
INITIAL COST TO COMPANY, Land	8,084
Capitalized Subsequent to Acquisition or Improvements	(5,509)	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	1,754
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	821
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	2,575
Date Acquired	Jun. 22, 2006
Village At Northshore [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	LA
INITIAL COST TO COMPANY, Land	1,034
INITIAL COST TO COMPANY, Building & Improvements	10,128
Capitalized Subsequent to Acquisition or Improvements	195	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	1,034
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	10,323
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	11,357
Accumulated Depreciation	2,529
Date Acquired	Feb. 12, 2003
Von's Circle West [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	CA
Encumbrances	10,793
INITIAL COST TO COMPANY, Land	18,219
INITIAL COST TO COMPANY, Building & Improvements	18,909
Capitalized Subsequent to Acquisition or Improvements	2,586	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	18,274
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	21,440
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	39,714
Accumulated Depreciation	1,368
Date Acquired	Mar. 16, 2011
Walden Woods [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	950
INITIAL COST TO COMPANY, Building & Improvements	3,780
Capitalized Subsequent to Acquisition or Improvements	1,158	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	881
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	5,007
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	5,888
Accumulated Depreciation	2,627
Date Acquired	Jan. 01, 1999
Walton Plaza [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	GA
INITIAL COST TO COMPANY, Land	869
INITIAL COST TO COMPANY, Building & Improvements	2,827
Capitalized Subsequent to Acquisition or Improvements	30	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	869
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	2,857
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	3,726
Accumulated Depreciation	717
Date Acquired	Feb. 12, 2003
Waterstone [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	1,422
INITIAL COST TO COMPANY, Building & Improvements	7,508
Capitalized Subsequent to Acquisition or Improvements	328	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	1,422
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	7,836
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	9,258
Accumulated Depreciation	1,450
Date Acquired	Apr. 10, 1992
Webster Plaza [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	MA
Encumbrances	7,070
INITIAL COST TO COMPANY, Land	5,033
INITIAL COST TO COMPANY, Building & Improvements	14,465
Capitalized Subsequent to Acquisition or Improvements	1,657	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	5,033
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	16,122
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	21,155
Accumulated Depreciation	2,690
Date Acquired	Oct. 12, 2006
Webster Plaza Solar Project [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	MA
Capitalized Subsequent to Acquisition or Improvements	732	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	732
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	732
Accumulated Depreciation	43
Wesley Chapel Crossing [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	GA
Encumbrances	0
INITIAL COST TO COMPANY, Land	6,389
INITIAL COST TO COMPANY, Building & Improvements	4,311
Capitalized Subsequent to Acquisition or Improvements	4,890	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	6,389
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	9,201
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	15,590
Accumulated Depreciation	2,771
Date Acquired	Feb. 12, 2003
West Bird Plaza [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
Encumbrances	0
INITIAL COST TO COMPANY, Land	5,280
INITIAL COST TO COMPANY, Building & Improvements	12,539
Capitalized Subsequent to Acquisition or Improvements	401	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	5,280
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	12,940
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	18,220
Accumulated Depreciation	1,183
Date Acquired	Aug. 31, 2010
West Lakes Plaza [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	2,141
INITIAL COST TO COMPANY, Building & Improvements	5,789
Capitalized Subsequent to Acquisition or Improvements	602	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	2,141
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	6,391
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	8,532
Accumulated Depreciation	2,634
Date Acquired	Nov. 06, 1996
West Roxbury Shaw's Plaza [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	MA
INITIAL COST TO COMPANY, Land	9,207
INITIAL COST TO COMPANY, Building & Improvements	13,588
Capitalized Subsequent to Acquisition or Improvements	1,967	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	9,207
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	15,555
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	24,762
Accumulated Depreciation	3,409
Date Acquired	Oct. 07, 2004
Westbury Land [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	NY
INITIAL COST TO COMPANY, Land	27,481
INITIAL COST TO COMPANY, Building & Improvements	3,537
Capitalized Subsequent to Acquisition or Improvements	79,966	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	26,079
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	84,905
Date Acquired	Nov. 16, 2009
Westbury Plaza [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	NY
INITIAL COST TO COMPANY, Land	37,853
INITIAL COST TO COMPANY, Building & Improvements	58,273
Capitalized Subsequent to Acquisition or Improvements	10,123	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	40,843
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	65,406
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	106,249
Accumulated Depreciation	5,871
Date Acquired	Oct. 29, 2009
Westport Outparcels [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	1,347
INITIAL COST TO COMPANY, Building & Improvements	1,010
Capitalized Subsequent to Acquisition or Improvements	5	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	1,347
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	1,015
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	2,362
Accumulated Depreciation	168
Date Acquired	Sep. 14, 2006
Westport Plaza [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
Encumbrances	3,890
INITIAL COST TO COMPANY, Land	4,180
INITIAL COST TO COMPANY, Building & Improvements	3,446
Capitalized Subsequent to Acquisition or Improvements	191	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	4,180
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	3,637
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	7,817
Accumulated Depreciation	846
Date Acquired	Dec. 17, 2004
Westridge [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	GA
INITIAL COST TO COMPANY, Land	1,696
INITIAL COST TO COMPANY, Building & Improvements	4,390
Capitalized Subsequent to Acquisition or Improvements	652	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	6,738
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	0
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	6,738
Accumulated Depreciation	0
Date Acquired	Feb. 12, 2003
Whole Foods At Swampscott [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	MA
INITIAL COST TO COMPANY, Land	5,139
INITIAL COST TO COMPANY, Building & Improvements	6,539
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	5,139
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	6,539
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	11,678
Accumulated Depreciation	1,439
Date Acquired	Oct. 07, 2004
Williamsburg At Dunwoody [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	GA
INITIAL COST TO COMPANY, Land	4,347
INITIAL COST TO COMPANY, Building & Improvements	3,615
Capitalized Subsequent to Acquisition or Improvements	839	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	4,347
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	4,454
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	8,801
Accumulated Depreciation	1,082
Date Acquired	Feb. 12, 2003
Willowdale Shopping Center [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	NC
INITIAL COST TO COMPANY, Land	1,322
INITIAL COST TO COMPANY, Building & Improvements	6,078
Capitalized Subsequent to Acquisition or Improvements	1,645	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	1,322
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	7,723
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	9,045
Accumulated Depreciation	2,398
Date Acquired	Feb. 12, 2003
Willows Shopping Center [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	CA
Encumbrances	55,245
INITIAL COST TO COMPANY, Land	20,999
INITIAL COST TO COMPANY, Building & Improvements	38,007
Capitalized Subsequent to Acquisition or Improvements	5,081	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	21,037
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	43,050
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	64,087
Accumulated Depreciation	3,230
Date Acquired	Jan. 04, 2011
Windy Hill [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	SC
INITIAL COST TO COMPANY, Land	987
INITIAL COST TO COMPANY, Building & Improvements	1,906
Capitalized Subsequent to Acquisition or Improvements	(127)	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	2,766
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	0
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	2,766
Accumulated Depreciation	0
Date Acquired	Apr. 08, 2004
Young Circle [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	13,409
INITIAL COST TO COMPANY, Building & Improvements	8,895
Capitalized Subsequent to Acquisition or Improvements	437	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	13,409
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	9,332
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	22,741
Accumulated Depreciation	1,856
Date Acquired	May 19, 2005
Corporate [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	0
INITIAL COST TO COMPANY, Building & Improvements	242
Capitalized Subsequent to Acquisition or Improvements	(9,623)	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	289
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	(9,670)
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	(9,381)
Accumulated Depreciation	(132)
Mandarin Landing [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	4,443
INITIAL COST TO COMPANY, Building & Improvements	4,747
Capitalized Subsequent to Acquisition or Improvements	11,361	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	4,443
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	16,108
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	20,551
Accumulated Depreciation	4,155
Date Acquired	Dec. 10, 1999
Mariners Crossing [Member]
Real Estate and Accumulated Depreciation [Line Items]
Location	FL
INITIAL COST TO COMPANY, Land	1,262
INITIAL COST TO COMPANY, Building & Improvements	4,447
Capitalized Subsequent to Acquisition or Improvements	2,869	[1]
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Land	1,511
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Building & Improvements	7,067
GROSS AMOUNTS AT WHICH CARRIED AT CLOSE OF PERIOD, Total	8,578
Accumulated Depreciation	$ 1,895
Date Acquired	Sep. 12, 2000

[1] Includes only asset impairments recognized.

[2] Aventura Square encumbrance is cross collateralized with Oakbrook Square and Treasure Coast Plaza.

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Quarterly Financial Data (Details) (USD $)	1 Months Ended	3 Months Ended																12 Months Ended				3 Months Ended
	Oct. 31, 2012	Dec. 31, 2012		Sep. 30, 2012		Jun. 30, 2012		Mar. 31, 2012		Dec. 31, 2011		Sep. 30, 2011		Jun. 30, 2011		Mar. 31, 2011		Dec. 31, 2012	Dec. 31, 2011		Dec. 31, 2010	Sep. 30, 2012 Understated [Member]	Oct. 25, 2012 Senior Notes [Member] Senior Notes 6.25 Percent Due 2014 [Member]
Schedule of Quarterly Financial Information [Line Items]
Total revenues		$ 85,126,000	[1],[2]	$ 81,485,000	[1]	$ 80,048,000	[1]	$ 78,952,000	[1]	$ 72,957,000	[1]	$ 68,350,000	[1],[3]	$ 70,681,000	[1]	$ 68,220,000	[1],[4]
Income (loss) from continuing operations		(32,255,000)	[1],[2]	11,825,000	[1]	5,301,000	[1]	8,374,000	[1]	(2,559,000)	[1]	(8,216,000)	[1],[3]	5,354,000	[1]	32,320,000	[1],[4]	(6,755,000)	26,899,000		6,146,000	(1,600,000)
Net income		(30,292,000)	[1],[2]	10,801,000	[1]	5,021,000	[1]	21,695,000	[1]	(1,071,000)	[1]	(2,209,000)	[1],[3]	9,121,000	[1]	37,377,000	[1],[4]	7,225,000	43,218,000		24,419,000
NET INCOME ATTRIBUTABLE TO EQUITY ONE, INC.		(32,792,000)	[1],[2]	8,065,000	[1]	2,268,000	[1]	18,982,000	[1]	(3,702,000)	[1]	(4,657,000)	[1],[3]	6,986,000	[1]	34,994,000	[1],[4]	(3,477,000)	33,621,000		25,112,000
Earnings Per Share, Basic [Abstract]
Basic earnings per share from continuing operations (in usd per share)		$ (0.30)	[1],[2]	$ 0.08	[1]	$ 0.02	[1]	$ 0.05	[1]	$ (0.05)	[1]	$ (0.10)	[1],[3]	$ 0.03	[1]	$ 0.28	[1],[4]	$ (0.16)	$ 0.15		$ 0.07	$ (0.02)
Basic per share data, Net income (loss)		$ (0.28)	[1],[2]	$ 0.07	[1]	$ 0.02	[1]	$ 0.16	[1]	$ (0.04)	[1]	$ (0.04)	[1],[3]	$ 0.06	[1]	$ 0.33	[1],[4]	$ (0.04)	$ 0.29	[5]	$ 0.27
Earnings Per Share, Diluted [Abstract]
Diluted per share data, Income from continuing operations		$ (0.30)	[1],[2]	$ 0.08	[1]	$ 0.02	[1]	$ 0.05	[1]	$ (0.05)	[1]	$ (0.10)	[1],[3]	$ 0.03	[1]	$ 0.27	[1],[4]	$ (0.16)	$ 0.15		$ 0.07
Diluted per share data, Net income (loss)		$ (0.28)	[1],[2]	$ 0.07	[1]	$ 0.02	[1]	$ 0.16	[1]	$ (0.04)	[1]	$ (0.04)	[1],[3]	$ 0.06	[1]	$ 0.32	[1],[4]	$ (0.04)	$ 0.29	[5]	$ 0.27
Additional Disclosures [Abstract]
Diluted earnings per share from discontinued operations (in usd per share)																		$ 0.12	$ 0.15		$ 0.20
Make whole premium and deferred fees																		29,600,000
(Loss) gain on extinguishment of debt	(30,200,000)																	(29,153,000)	(2,175,000)		33,000
Loss on extinguishment of debt, Discontinued Operations	(1,100,000)
Debt Instrument, Face Amount																							250,000,000
Debt instrument, interest rate, stated percentage																							6.25%
Asset Impairment Charges		18,824,000																22,772,000	19,158,000		464,000
Discontinued Operation, Provision for Loss (Gain) on Disposal, Net of Tax		798,000																6,669,000	38,178,000		223,000
Income (loss) from discontinued operations																		13,980,000	16,319,000		18,273,000	(1,600,000)
Basic earnings per share from discontinued operations (in usd per share)																		$ 0.12	$ 0.15		$ 0.20	$ (0.01)
Gain on Purchase of Business																			$ 30,561,000

[1] Reclassified to reflect the reporting of discontinued operations. Note that the sum of the individual quarters per share data may not foot to the year-to-date totals due to the rounding of the individual calculations.

[2] During the fourth quarter of 2012, we recognized a loss on early extinguishment of debt of $30.2 million (including $1.1 million in discontinued operations), primarily comprised of a make-whole premium and deferred fees and costs of $29.6 million associated with the redemption of all of our $250 million 6.25% unsecured senior notes, which were scheduled to mature on December 15, 2014. Additionally, during the fourth quarter of 2012, we recognized impairment losses of $18.8 million in continuing operations and $798,000 in discontinued operations. See Note 7 for further discussion of impairments.

[3] During the fourth quarter of 2011, we identified and corrected an immaterial error related to the allocation of earnings between continuing and discontinued operations. Net loss from continuing operations for the third quarter was understated by $1.6 million, or $0.02 per basic and diluted share, and net income from discontinued operations was understated by $1.6 million, or $0.01 per basic and diluted share. Net loss per basic and diluted share were not affected. No other quarters were impacted by the reclassification of earnings between continuing and discontinued operations.

[4] During the first quarter of 2011, we recognized a gain on bargain purchase of $30.6 million related to our CapCo acquisition.

[5] Note: EPS does not foot due to the rounding of the individual calculations.

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Property Dispositions (Summary of Disposition Activity) (Details) (USD $)	12 Months Ended
	Dec. 31, 2012 sqft property		Dec. 31, 2011	Dec. 31, 2010	Jan. 04, 2011 sqft
Acquisitions And Dispositions [Line Items]
Square Feet/Acres	16,900,000				2,600,000
Gross Sales Price	$ 41,429,000		$ 1,104,424,000	$ 20,326,000
Non-core properties under evaluation to sell	26
Income Producing Property Sold [Member]
Acquisitions And Dispositions [Line Items]
Gross Sales Price	69,529,000
Outparcels Sold [Member]
Acquisitions And Dispositions [Line Items]
Sub Total Real Estate Cost Of Real Estate Sold	1,660,000
Mortgage Debt [Member]
Acquisitions And Dispositions [Line Items]
Debt repaid by buyer	27,200,000
Property Dispositions [Member]
Acquisitions And Dispositions [Line Items]
Gross Sales Price	71,189,000
Greenville [Member] | Income Producing Property Sold [Member] | Woodruff [Member]
Acquisitions And Dispositions [Line Items]
Disposal Date	Dec. 07, 2012
Square Feet/Acres	68,055
Gross Sales Price	9,100,000
Charlotte [Member] | Income Producing Property Sold [Member] | Laurel Walk Apartments [Member]
Acquisitions And Dispositions [Line Items]
Disposal Date	Mar. 30, 2012
Square Feet/Acres	106,480
Gross Sales Price	6,000,000
Commerce [Member] | Income Producing Property Sold [Member] | Commerce Crossing [Member]
Acquisitions And Dispositions [Line Items]
Disposal Date	Mar. 30, 2012
Square Feet/Acres	100,668
Gross Sales Price	600,000
San Francisco [Member] | Income Producing Property Sold [Member] | 222 Sutter Street [Member]
Acquisitions And Dispositions [Line Items]
Disposal Date	Mar. 15, 2012
Square Feet/Acres	128,595
Gross Sales Price	53,829,000	[1]
Norcross [Member] | Outparcels Sold [Member] | Market Place - IHOP [Member]
Acquisitions And Dispositions [Line Items]
Disposal Date	Feb. 27, 2012
Square Feet/Acres	0.35	[2]
Gross Sales Price	885,000
Lafayette Parish [Member] | Outparcels Sold [Member] | Grand Marche (Ground Lease) [Member]
Acquisitions And Dispositions [Line Items]
Disposal Date	Jan. 20, 2012
Square Feet/Acres	200,585
Gross Sales Price	$ 775,000

[1] Includes $27.2 million of mortgage debt repaid by the buyer at closing.

[2] In acres.

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Subsequent Events

12 Months Ended

Dec. 31, 2012

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

Pursuant to the Subsequent Events Topic of the FASB ASC, we have evaluated subsequent events and transactions that occurred after our December 31, 2012 consolidated balance sheet date for potential recognition or disclosure in our consolidated financial statements.

Subsequent to year end, we closed on the sale of eight properties located in the Southeast and North Florida regions for a purchase price of $81.3 million and concurrently prepaid $2.8 million in mortgage loans, which bore interest at 6.85%. The operations of these properties are included in discontinued operations in the accompanying consolidated financial statements for all the periods presented and the related assets and liabilities are presented as held for sale in our consolidated balance sheets at December 31, 2012 and 2011.

Subsequent to year end, we entered into a contract to sell one of our operating properties located in the Southeast region. On February 25, 2013, the due diligence period expired and the property met the criteria to be classified as held for sale. As of December 31, 2012, the property had a net book value of $9.7 million. We expect to recognize a gain on sale of the property in the first quarter of 2013.

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Loans Receivable

12 Months Ended

Dec. 31, 2012

Receivables [Abstract]

Loans Receivable

Loans Receivable

On July 5, 2011, we invested in a $45.0 million junior mezzanine loan indirectly secured by a portfolio of seven California shopping centers which had an aggregate appraised value of approximately $272.0 million at the time we acquired the mezzanine loan. This mezzanine loan is subordinated in right of payment to a $120.0 million loan and a $60.0 million senior mezzanine loan, matures on July 9, 2013 subject to the borrower’s ability to extend the maturity date for three additional one-year periods, and bears interest at 8.46% per annum plus one month LIBOR (subject to a 0.75% per annum LIBOR floor). At December 31, 2012, the mezzanine loan bore interest of 9.21%. We capitalized $108,000 in net fees paid relating to the acquisition of this loan and are amortizing these amounts against interest income over the initial two-year term. As of December 31, 2012, the loan was performing, and the carrying amount of the loan was $45.2 million. This carrying amount also reflects our maximum exposure to loss related to this investment. At inception, and as of December 31, 2012, we had and continue to have the ability and intention to hold this mezzanine loan to maturity.

In October 2012, we purchased a $95.0 million mortgage loan secured by the Westwood Complex, a 22-acre site located in Bethesda, Maryland that consists of 214,767 square feet of retail space, a 211,020 square foot apartment building, and a 62-unit assisted living facility. The loan bears interest at 5.0% per annum and has a stated maturity date of January 15, 2014. Concurrent with the loan transaction, we also entered into a purchase contract to acquire the complex for an aggregate purchase price of approximately $140.0 million. The purchase contract contemplates a closing date that is the earlier of January 15, 2014 or upon the seller's identification of a property (or properties) which it can purchase with the proceeds from the sale of the complex. The closing date may also be deferred for up to one year beyond January 15, 2014 depending on the outcome of certain litigation brought against the seller of the complex as described in further detail in Note 22. To the extent that the closing date under the purchase contract occurs prior to or subsequent to January 15, 2014, the parties have also agreed to adjust the maturity date of the mortgage loan to coincide with the closing date. Based on our assessment of the structure of the transaction, we have determined that the entities that own the various parcels comprising the Westwood Complex are VIEs and that we hold variable interests in these entities through the purchase contract and our investment in the mortgage loan; however, we concluded that we are not the primary beneficiary of these entities as we do not have the power to direct the activities that most significantly impact their economic performance. Upon the purchase of the loan and as of December 31, 2012, we had and continue to have the ability to hold the loan to maturity. Although the seller may initiate the sale transaction under the purchase contract and accelerate the maturity date of the mortgage loan, we do not intend to sell the mortgage loan, and we believe that we will recover our cost basis in the loan to the extent that the maturity date is accelerated. Accordingly, we have classified our investment in the loan as held to maturity. As of December 31, 2012, the loan was performing, and the carrying amount of the loan was $95.5 million, which also reflects our current maximum exposure to loss related to this investment.

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Noncontrolling Interests (Narrative) (Details) (USD $)	1 Months Ended		12 Months Ended													12 Months Ended						1 Months Ended	3 Months Ended	12 Months Ended		1 Months Ended	12 Months Ended										12 Months Ended				0 Months Ended		12 Months Ended
	Oct. 31, 2011 variable_interest_entity	Apr. 30, 2009	Dec. 31, 2012 property	Dec. 31, 2011	Dec. 31, 2010	May 31, 2011	May 02, 2011	Jan. 04, 2011 property	Feb. 19, 2010	Jan. 01, 1999 Walden Woods Inc [Member]	Dec. 31, 2012 Vestar/EQY Canyon Trails LLC [Member]		Dec. 31, 2011 Vestar/EQY Canyon Trails LLC [Member]		Dec. 31, 2012 CapCo [Member]	Dec. 31, 2012 Equity One, Inc. [Member]	Dec. 31, 2011 Equity One, Inc. [Member]	Dec. 31, 2012 Walden Woods Village Ltd [Member]		Dec. 31, 2011 Walden Woods Village Ltd [Member]		Oct. 31, 2011 Danbury And Southbury [Member]	Sep. 30, 2012 Danbury And Southbury [Member]	Dec. 31, 2012 Danbury And Southbury [Member]	Dec. 31, 2011 Danbury And Southbury [Member]	Dec. 31, 2010 Vestar [Member]	Dec. 31, 2012 Vestar [Member]	Dec. 31, 2011 Vestar [Member]	Dec. 31, 2012 Danbury Green [Member] associates		Dec. 31, 2011 Danbury Green [Member]		Dec. 31, 2012 Southbury Green [Member] associates		Dec. 31, 2011 Southbury Green [Member]		Dec. 31, 2012 Sunlake [Member]	Dec. 31, 2012 DIM [Member]	Dec. 31, 2011 DIM [Member]	Jan. 14, 2009 DIM [Member]	Feb. 19, 2010 Dim Vastgoed N V [Member]	Jan. 14, 2009 Dim Vastgoed N V [Member]	Dec. 31, 2012 Dim Vastgoed N V [Member]	Dec. 31, 2011 Dim Vastgoed N V [Member]	Dec. 31, 2009 Dim Vastgoed N V [Member]	Dec. 31, 2010 Dim Vastgoed N V [Member]	Jan. 09, 2009 Dim Vastgoed N V [Member]	Dec. 31, 2010 Vestar [Member] Equity One, Inc. [Member] properties
Noncontrolling Interest [Line Items]
Common stock, shares issued (in shares)			116,938,000	112,599,000		6,000,000	13,500,000			93,656																																866,373
Financial Instruments Subject to Mandatory Redemption, Settlement Terms, Forward Price or Option Strike Price, Shares										$ 10.30
Number of Real Estate Properties			168					13																																								3
Fair Value Of Redeemable Noncontrolling Interest																										$ 5,200,000
Redemption period																		Jan. 01, 2014
Noncontrolling interest, ownership percentage																						60.00%
Number of Noncontrolling Interests Acquired	2
Number Of Associates																													6				84
Total noncontrolling interests included in stockholders' equity			207,753,000	207,886,000											206,145,000							19,000,000					508,000	609,000										1,100,000	1,132,000	25,800,000
Shares Acquired Through Open Market And Private Purchases, Ownership Interest																																											97.80%	97.80%
Redeemable noncontrolling interests			22,551,000	22,804,000							2,600,000	[1]	2,853,000	[1]				989,000	[2]	989,000	[2]								7,720,000	[3]	7,720,000	[3]	11,242,000	[4]	11,242,000	[4]
Final Redeemable NCI Redemption Date		Jan. 01, 2014
Noncontrolling interest, change in redemption value			185,000																								19,000,000	19,000,000
Percentage of preferred return on advances																						5.00%															8.00%
Percentage Of Profits On Disposition Of Property																																					60.00%
Common Stock, Shares Authorized			150,000,000	150,000,000																																											2,004,249
Common Stock In Exchange, Total																																										1,237,676
Additional Subsidiary Ordinary Shares																																										766,573
Voting Rights Agreement, Ordinary Shares																																													5,367,817
Percentage Of Subsidiary Shares Outstanding																																										15.10%			65.30%
Percentage Of Voting Control, Outstanding Ordinary Shares																																													74.70%
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares																																									536,601		0	0
Remaining Shares Of Common Stock In Exchange									766,573
Redemption amounts expensed																							944,000		168,000
Business Acquisition, Cost of Acquired Entity, Transaction Costs																																											0	0		1,100,000
Payments of Dividends, Redeemable Noncontrolling Interests			$ 944,000	$ 11,405,000												$ 944,000	$ 11,405,000							$ 944,000	$ 89,000

[1] This entity owns the Canyon Trails Shopping Center.

[2] We have entered into a redemption agreement whereby our joint venture partner can request that we purchase their interest at any time before January 1, 2014.

[3] This entity owns the Danbury Green Shopping Center.

[4] This entity owns the Southbury Green Shopping Center.