Exhibit 99.2

	Page

DISCLOSURES	3

FINANCIAL HIGHLIGHTS - OPERATING RATIOS	4

FINANCIAL HIGHLIGHTS - DEBT RATIOS - QUARTERLY BREAKOUT	5

EARNINGS BEFORE INTEREST, TAXES, DEPRECIATION and AMORTIZATION (EBITDA)	6

NET OPERATING INCOME	7

MARKET CAPITALIZATION - QUARTERLY BREAKOUT	8

CONSOLIDATED STATEMENTS OF OPERATIONS	9

CONSOLIDATED STATEMENTS OF OPERATIONS - QUARTERLY BREAKOUT	10

PRO FORMA FINANCIAL INFORMATION FOR DISCONTINUED OPERATIONS	11

CONSOLIDATED STATEMENTS OF FUNDS FROM OPERATIONS	13

CONSOLIDATED STATEMENTS OF FUNDS FROM OPERATIONS - QUARTERLY BREAKOUT	14

CONSOLIDATED STATEMENTS OF FUNDS AVAILABLE FOR DISTRIBUTION	15

CONSOLIDATED STATEMENTS OF FUNDS AVAILABLE FOR DISTRIBUTION - QUARTERLY BREAKOUT	16

CONSOLIDATED BALANCE SHEETS	17

DEBT SUMMARY	18

DEBT MATURITIES	22

PROPERTY STATUS REPORT	23

ANNUAL MINIMUM RENT BY STATE	32

LEASING ACTIVITY AND OCCUPANCY STATISTICS	33

TENANT CONCENTRATION SCHEDULES	35

SHOPPING CENTER LEASE EXPIRATION SCHEDULES	37

REAL ESTATE DEVELOPMENTS AND REDEVELOPMENTS	41

REAL ESTATE ACQUISITIONS AND DISPOSITIONS	42

ANALYST COVERAGE	43

EQUITY ONE, INC. AND SUBSIDIARIES

DISCLOSURES

As of December 31, 2005

Forward Looking Statements

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

Basis of Presentation

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

Use of EBITDA as a Non-GAAP Financial Measure

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

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

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

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

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

Page 3

	For the three months ended						For the twelve months ended
	Dec 31, 2005			Dec 31, 2004			Dec 31, 2005			Dec 31, 2004
Selected Operating Items:
Total rental revenue*	$	65,151		$	64,427		$	254,741		$	239,279
Property operating expenses*		19,257			16,858			67,490			63,395
General & administrative expenses (G&A)*		4,339			5,618			17,281			16,601

Net income	$	17,767		$	28,329		$	92,741		$	97,804
Net income per diluted share		0.24			0.39			1.24			1.37

Income from continuing operations	$	17,764		$	19,180		$	80,692		$	69,463
Income from continuing operations per diluted share		0.24			0.27			1.08			0.97

Funds from operations (FFO)	$	28,932		$	30,300		$	124,836		$	113,663
FFO per diluted share		0.38			0.41			1.67			1.58

Funds available for distribution (FAD)	$	22,335		$	24,382		$	96,268		$	93,058
FAD per diluted share		0.30			0.33			1.29			1.29

Total dividends paid per share	$	0.30		$	0.29		$	1.17		$	1.13

Operating Ratios:
Net operating income margin (see page 7)*		70.4	%		73.8	%		73.5	%		73.5	%
Expense recovery ratio (expense recoveries/operating expenses)*		80.1	%		79.6	%		81.5	%		79.1	%

EBITDA margin (see page 6)*		64.4	%		65.8	%		68.0	%		67.1	%
EBITDA to interest coverage ratio*		3.3			3.5			3.4			3.4

G&A as % of total revenues*		6.6	%		8.6	%		6.6	%		6.9	%
G&A as % of total assets (annualized)		0.85	%		1.13	%		0.84	%		0.83	%

Dividend / FFO payout ratio		78.9	%		70.7	%		70.1	%		71.5	%
FFO multiple (annualized if < 12 months)		15.2			14.5			13.8			15.0

Dividend / FAD payout ratio		100.0	%		87.9	%		90.7	%		87.6	%
FAD multiple (annualized if < 12 months)		19.3			18.0			17.9			18.4

	Dec 31, 2005			Sep 30, 2005			Jun 30, 2005			Mar 31, 2005			Dec 31, 2004			Sep 30, 2004			Jun 30, 2004			Mar 31, 2004

Fixed rate debt	$	816,925		$	819,564		$	704,203		$	738,817		$	745,056		$	730,739		$	747,741		$	720,263
Fixed rate debt - swapped to variable rate		95,404			95,514			97,310			95,165			97,261			100,000			100,000			100,000
Variable rate debt - swapped to fixed rate		-			-			-			-			-			-			20,000			20,000
Variable rate debt - unhedged		93,165			39,000			184,161			144,763			147,000			64,000			71,616			30,879
Total debt*	$	1,005,494		$	954,078		$	985,674		$	978,745		$	989,317		$	894,739		$	939,357		$	871,142

% Fixed rate debt		81.25	%		85.90	%		71.44	%		75.49	%		75.31	%		81.67	%		79.60	%		82.68	%
% Fixed rate debt - swapped to variable rate		9.49	%		10.01	%		9.87	%		9.72	%		9.83	%		11.18	%		10.65	%		11.48	%
% Variable rate debt - swapped to fixed rate		-			-			-			-			-			-			2.13	%		2.30	%
% Variable rate debt - unhedged		9.27	%		4.09	%		18.68	%		14.79	%		14.86	%		7.15	%		7.62	%		3.54	%
Total		100.00	%		100.00	%		100.00	%		100.00	%		100.00	%		100.00	%		100.00	%		100.00	%

% Variable rate debt - total		18.75	%		14.10	%		28.56	%		24.51	%		24.69	%		18.33	%		18.27	%		15.02	%


Secured mortgage debt	$	446,925		$	449,546		$	454,203		$	488,817		$	495,056		$	480,739		$	497,741		$	470,263
Unsecured debt		558,569			504,532			531,471			489,928			494,261			414,000			441,616			400,879
Total debt*	$	1,005,494		$	954,078		$	985,674		$	978,745		$	989,317		$	894,739		$	939,357		$	871,142

% Secured mortgage debt		44.45	%		47.12	%		46.08	%		49.94	%		50.04	%		53.73	%		52.99	%		53.98	%
% Unsecured debt		55.55	%		52.88	%		53.92	%		50.06	%		49.96	%		46.27	%		47.01	%		46.02	%
Total		100.00	%		100.00	%		100.00	%		100.00	%		100.00	%		100.00	%		100.00	%		100.00	%


Total market capitalization (from page 8)	$	2,757,987		$	2,710,423		$	2,690,123		$	2,515,416		$	2,746,539		$	2,321,138		$	2,235,352		$	2,242,810

% Secured mortgage debt		16.20	%		16.59	%		16.88	%		19.43	%		18.02	%		20.71	%		22.27	%		20.97	%
% Unsecured debt		20.25	%		18.61	%		19.76	%		19.48	%		18.00	%		17.84	%		19.76	%		17.87	%
Total debt : Total market capitalization		36.46	%		35.20	%		36.64	%		38.91	%		36.02	%		38.55	%		42.03	%		38.84	%


Weighted-average interest rate on secured mortgage debt		7.19	%		7.24	%		7.24	%		7.26	%		7.26	%		7.22	%		7.25	%		7.40	%
Weighted-average interest rate on senior unsecured notes**		5.20	%		5.42	%		5.08	%		5.10	%		5.12	%		5.14	%		5.16	%		5.18	%
Weighted-average interest rate on revolving credit facilities		4.68	%		4.15	%		3.69	%		3.19	%		2.80	%		2.13	%		2.05	%		2.15	%

Weighted-average maturity on mortgage debt		5.2 years			5.6 years			5.8 years			5.6 years			5.8 years			5.9 years			6.1 years			6.4 years
Weighted-average maturity on senior unsecured notes		4.6 years			4.8 years			3.3 years			3.5 years			3.7 years			3.9 years			4.2 years			4.5 years

EQUITY ONE, INC. AND SUBSIDIARIES

EARNINGS BEFORE INTEREST, TAXES, DEPRECIATION and AMORTIZATION (EBITDA)

For the quarter ended December 31, 2005

(in thousands, except per share data)

	For the three months ended						For the twelve months ended
	Dec 31, 2005			Dec 31, 2004			Dec 31, 2005			Dec 31, 2004

Net income	$	17,767		$	28,329		$	92,741		$	97,804
Minority interest*		44			47			188			689
Interest expense*		12,813			12,237			51,983			47,129
(Gain)/loss on disposal of income producing property		-			(8,409	)		(11,460	)		(22,176	)
Amortization of deferred financing fees*		391			381			1,512			1,459
Rental property depreciation and amortization*		11,137			10,353			43,445			37,215
Other depreciation and amortization		163			96			577			348
EBITDA*	$	42,315		$	43,034		$	178,986		$	162,468


Interest expense*	$	12,813		$	12,237		$	51,983		$	47,129

EBITDA : interest coverage ratio*		3.3			3.5			3.4			3.4

Revenue
Total rental revenue*	$	65,151		$	64,427		$	254,741		$	239,279
Investment income		424			734			7,941			2,346
Other income		173			241			498			537
Total revenue*	$	65,748		$	65,402		$	263,180		$	242,162

EBITDA margin (EBITDA/total revenue)*		64.4	%		65.8	%		68.0	%		16.9	%

Total market capitalization (see page 8)	$	2,757,987		$	2,746,539		$	2,757,987		$	2,746,539
Total market capitalization to EBITDA multiple*		16.3			16.0			15.4			16.9

	For the three months ended						Percent			For the twelve months ended						Percent
	Dec 31, 2005			Dec 31, 2004			Change			Dec 31, 2005			Dec 31, 2004			Change
	____________			____________						____________			____________

Net operating income (1)
Total rental revenue	$	65,151		$	64,427			1.19	%	$	254,741		$	239,279			6.5	%
Property operating expenses (2)		19,257			16,858			14.2	%		67,490			63,395			6.5	%
Net operating income	$	45,894		$	47,569			(3.5	%)	$	187,251		$	175,884			6.5	%

NOI margin (NOI/total rental revenue)		70.4	%		73.8	%					73.5	%		73.5	%


Net operating income (NOI) from continuing operations
Total rental revenue	$	65,143		$	62,995			3.4	%	$	252,964		$	226,593			11.6	%
Property operating expenses (2)		19,252			16,515			16.6	%		66,818			60,102			11.2	%
Net operating income	$	45,891		$	46,480			(1.3	%)	$	186,146		$	166,491			11.8	%

NOI margin (NOI/total rental revenue)		70.4	%		73.7	%					73.6	%		73.5	%


Same property NOI (3)
Total rental revenue	$	59,833		$	58,994			1.4	%	$	204,986		$	196,991			4.1	%
Property operating expenses		19,565			17,015			15.0	%		59,087			55,252			6.9	%
Net operating income	$	40,268		$	41,979			(4.1	%)	$	145,899		$	141,739			2.9	%

Growth in same property NOI		(4.1	%)								2.9	%
Growth in same property NOI, excluding termination fees		0.7	%								2.1	%

Number of properties included in analysis		167									153
Same property occupancy		93.2	%		94.8	%					93.0	%		94.7	%

	Dec 31, 2005			Sep 30, 2005			Jun 30, 2005			Mar 31, 2005			Dec 31, 2004			Sep 30, 2004			Jun 30, 2004			Mar 31, 2004

Closing market price of common stock	$	23.12		$	23.25		$	22.70		$	20.59		$	23.73		$	19.62		$	18.08		$	19.22
Dividend yield (based on current annualized dividend)		5.19	%		4.99	%		5.11	%		5.63	%		4.89	%		5.71	%		6.19	%		5.83	%
Dividends paid per share	$	0.30		$	0.29		$	0.29		$	0.29		$	0.29		$	0.28		$	0.28		$	0.28

Net book value per share (fully diluted, end of period)	$	12.83		$	12.83		$	12.73		$	12.64		$	12.54		$	12.35		$	11.86		$	11.87


Liquidity
Cash and cash equivalents	$	102		$	-		$	-		$	-		$	5,122		$	10,722		$	5,814		$	1,901
Revolving credit facilities
Gross potential available under current credit facilities		280,000		$	345,000			345,000			345,000			345,000			345,000			345,000			345,000
less: Outstanding balance		(93,165	)	$	(39,000	)		(179,387	)		(144,763	)		(147,000	)		(64,000	)		(80,541	)		(50,879	)
Holdback for letters of credit		(1,283	)		(1,283	)		(1,283	)		(1,289	)		(1,339	)		(1,378	)		(1,456	)		(1,378	)
Net potential available under credit facilities	$	185,552		$	304,717		$	164,330		$	198,948		$	196,661		$	279,622		$	263,003		$	292,743


Equity market capitalization (end of period)
Common stock shares (in thousands)
Basic common shares		74,891.792			74,522.955			74,029.497			73,561.218			72,904.922			72,069.799			70,241.851			69,580.460
Diluted common shares
Unvested restricted common shares		517.637			525.954			582.787			576.122			692.699			700.632			513.131			524.799
Walden Woods shares		93.656			93.656			93.656			93.656			93.656			93.656			93.656			93.656
IRT Partners operating partnership units		-			-			-			-			-			-			734.266			734.266
Common stock options (treasury method, closing price)		301.217			399.136			379.914			400.907			575.229			383.661			419.820			532.424
Fully diluted common shares		75,804.302			75,541.701			75,085.854			74,631.903			74,266.506			73,247.748			72,002.724			71,465.605


Total debt (excluding unamortized premium/discount)	$	1,005,494		$	954,078		$	985,674		$	978,745		$	989,317		$	894,739		$	939,357		$	871,142
Cash and cash equivalents		(102	)	$	-			-			-			(5,122	)		(10,722	)		(5,814	)		(1,901	)
Net debt		1,005,392			954,078			985,674			978,745			984,195			884,017			933,543			869,241
Equity market capitalization (fully diluted, end of period)		1,752,595			1,756,345			1,704,449			1,536,671			1,762,344			1,437,121			1,301,809			1,373,569
Total market capitalization	$	2,757,987		$	2,710,423		$	2,690,123		$	2,515,416		$	2,746,539		$	2,321,138		$	2,235,352		$	2,242,810

Net debt to total market capitalization		36.5	%		35.2	%		36.6	%		38.9	%		35.8	%		38.1	%		41.8	%		38.8	%


Gross real estate and securities investments	$	2,088,063		$	2,028,990		$	2,044,787		$	2,016,111		$	2,005,825		$	1,865,378		$	1,885,984		$	1,795,632

Net debt to gross real estate and securities investments		48.1	%		47.0	%		48.2	%		48.5	%		49.1	%		47.4	%		49.5	%		48.4	%

	For the three months ended						Percent			For the twelve months ended						Percent
	Dec 31, 2005			Dec 31, 2004			Change			Dec 31, 2005			Dec 31, 2004			Change

Rental revenue:
Minimum rents	$	48,618		$	46,962					$	191,634		$	173,151
Expense recoveries		15,425			13,070						54,643			48,037
Termination fees		925			2,919						4,940			3,490
Percentage rent		175			44						1,747			1,915
Total rental revenue		65,143			62,995			3.4	%		252,964			226,593			11.6	%

Costs and expenses:
Property operating expenses		19,252			16,515						66,818			60,102
Rental property depreciation and amortization		11,137			10,141						43,162			35,631
General and administrative expenses		4,339			5,618						17,281			16,601
Total costs and expenses		34,728			32,274			7.6	%		127,261			112,334			13.3	%

Income before other income and expenses,
minority interest and discontinued operations		30,415			30,721						125,703			114,259
Other income and expenses:
Interest expense		(12,813	)		(12,088	)					(51,750	)		(45,733	)
Amortization of deferred financing fees		(391	)		(381	)					(1,512	)		(1,370	)
Investment income		424			734						7,941			2,346
Other income		173			241						498			537
Income before minority interest and discontinued operations		17,808			19,227						80,880			70,039
Minority interest		(44	)		(47	)					(188	)		(576	)

Income from continuing operations		17,764			19,180			-7.4	%		80,692			69,463			16.2	%

Discontinued operations:
Income from rental properties sold or held for sale		3			740						589			6,278
Gain (loss) on disposal of income producing properties		-			8,409						11,460			22,176
Minority interest		-			-						-			(113	)
Income from discontinued operations		3			9,149						12,049			28,341

Net income	$	17,767		$	28,329			-37.3	%	$	92,741		$	97,804			-5.2	%

Basic earnings per share
Income from continuing operations	$	0.24		$	0.27			-11.1	%	$	1.10		$	0.99			11.1	%
Income from discontinued operations		0.00			0.12						0.16			0.40
Net income	$	0.24		$	0.39			-38.5	%	$	1.26		$	1.39			-9.4	%

Diluted earnings per share
Income from continuing operations	$	0.24		$	0.27			-11.1	%	$	1.08		$	0.97			11.3	%
Income from discontinued operations		0.00			0.12						0.16			0.40
Net income	$	0.24		$	0.39			-38.5	%	$	1.24		$	1.37			-9.5	%

Weighted average shares outstanding
Basic		74,574			72,315						73,840			70,447
Diluted		75,501			73,616						74,790			72,036

	Dec 31, 2005			Sep 30, 2005			Jun 30, 2005			Mar 31, 2005			Dec 31, 2004			Sep 30, 2004			Jun 30, 2004			Mar 31, 2004

Rental revenue:
Minimum rents	$	48,618		$	48,096		$	47,667		$	47,253		$	46,962		$	43,919		$	42,997		$	39,273
Expense recoveries		15,425			12,807			13,698			12,713			13,070			12,627			11,340			11,000
Termination fees		925			835			2,712			468			2,919			166			320			85
Percentage rent		175			109			334			1,129			44			282			256			1,333
Total rental revenue		65,143			61,847			64,411			61,563			62,995			56,994			54,913			51,691

Costs and expenses:
Property operating expenses		19,252			16,227			15,896			15,443			16,515			15,642			14,365			13,580
Rental property depreciation and amortization		11,137			10,889			10,841			10,295			10,141			8,874			8,690			7,926
General and administrative expenses		4,339			4,232			4,370			4,340			5,618			3,722			3,809			3,452
Total costs and expenses		34,728			31,348			31,107			30,078			32,274			28,238			26,864			24,958

Income before other income and expenses,
minority interest and discontinued operations		30,415			30,499			33,304			31,485			30,721			28,756			28,049			26,733
Other income and expenses:
Interest expense		(12,813	)		(13,874	)		(13,033	)		(12,030	)		(12,088	)		(12,003	)		(11,486	)		(10,156	)
Amortization of deferred financing fees		(391	)		(372	)		(370	)		(379	)		(381	)		(379	)		(374	)		(236	)
Investment income		424			5,593			1,215			709			734			1,210			194			208
Other income		173			133			128			64			241			173			59			64
Income before minority interest and discontinued operations		17,808			21,979			21,244			19,849			19,227			17,757			16,442			16,613
Minority interest		(44	)		(48	)		(46	)		(50	)		(47	)		(150	)		(177	)		(202	)

Income from continuing operations		17,764			21,931			21,198			19,799			19,180			17,607			16,265			16,411

Discontinued operations:
Income from rental properties sold or held for sale		3			22			188			376			740			968			2,764			1,806
Gain (loss) on disposal of income producing properties		-			6,088			3,757			1,615			8,409			12,215			(483	)		2,035
Minority interest		-			-			-			-			-			(89	)		(11	)		(13	)
Income from discontinued operations		3			6,110			3,945			1,991			9,149			13,094			2,270			3,828

Net income	$	17,767		$	28,041		$	25,143		$	21,790		$	28,329		$	30,701		$	18,535		$	20,239

Basic earnings per share
Income from continuing operations	$	0.24		$	0.30		$	0.29		$	0.27		$	0.27		$	0.25		$	0.23		$	0.24
Income from discontinued operations		0.00			0.08			0.05			0.03			0.12			0.18			0.04			0.05
Net income	$	0.24		$	0.38		$	0.34		$	0.30		$	0.39		$	0.43		$	0.27		$	0.29

Diluted earnings per share
Income from continuing operations	$	0.24		$	0.29		$	0.29		$	0.27		$	0.27		$	0.25		$	0.23		$	0.24
Income from discontinued operations		0.00			0.08			0.05			0.02			0.12			0.18			0.03			0.05
Net income	$	0.24		$	0.37		$	0.34		$	0.29		$	0.39		$	0.43		$	0.26		$	0.29

Weighted average shares outstanding
Basic		74,574			74,087			73,636			73,043			72,315			70,626			69,711			69,115
Diluted		75,501			75,144			74,656			74,193			73,616			72,327			71,419			71,021

	For the three months ended Dec 31, 2005														For the twelve months ended Dec 31, 2005
				Discontinued Operations														Discontinued Operations
	As Reported			Total			Held for Sale			Sold		Pre SFAS No. 144			As Reported			Total			Held for Sale			Sold			Pre SFAS No. 144

Rental revenue:
Minimum rents	$	48,618		$	6		$	6		$	-	$	48,624		$	191,634		$	1,388		$	21		$	1,367		$	193,022
Expense recoveries		15,425			2			2			-		15,427			54,643			376			2			374			55,019
Termination fees		925			-			-			-		925			4,940			9			-			9			4,949
Percentage rent		175			-			-			-		175			1,747			4			-			4			1,751
Total rental revenue		65,143			8			8			-		65,151			252,964			1,777			23			1,754			254,741

Costs and expenses:
Property operating expenses		19,252			5			5			-		19,257			66,818			672			12			660			67,490
Rental property depreciation and amortization		11,137			-			-			-		11,137			43,162			283			1			282			43,445
General and administrative expenses		4,339			-			-			-		4,339			17,281			-			-			-			17,281
Total costs and expenses		34,728			5			5			-		34,733			127,261			955			13			942			128,216

Income before other income and expenses, minority interest and discontinued operations		30,415			3			3			-		30,418			125,703			822			10			812			126,525
Other income and expenses:
Interest expense		(12,813	)		-			-			-		(12,813	)		(51,750	)		(233	)		-			(233	)		(51,983	)
Amortization of deferred financing fees		(391	)		-			-			-		(391	)		(1,512	)		-			-			-			(1,512	)
Investment income		424			-			-			-		424			7,941			-			-			-			7,941
Other income		173			-			-			-		173			498			-			-			-			498
Income before minority interest and discontinued operations		17,808			3			3			-		17,811			80,880			589			10			579			81,469
Minority interest		(44	)		-			-			-		(44	)		(188	)		-			-			-			(188	)

Income from continuing operations		17,764			3			3			-		17,767			80,692			589			10			579			81,281

Discontinued operations:
Income from rental properties sold or held for sale		3			(3	)		(3	)		-		-			589			(589	)		(10	)		(579	)		-
Gain on disposal of income producing properties		-			-			-			-		-			11,460			-			-			-			11,460
Minority interest		-			-			-			-		-			-			-			-			-			-
Income from discontinued operations		3			(3	)		(3	)		-		-			12,049			(589	)		(10	)		(579	)		11,460

Net income	$	17,767		$	-		$	-		$	-	$	17,767		$	92,741		$	-		$	-		$	-		$	92,741

	For the three months ended Dec 31, 2004															For the twelve months ended Dec 31, 2004
				Discontinued Operations															Discontinued Operations
	As Reported			Total			Held for Sale			Sold			Pre SFAS No. 144			As Reported			Total			Held for Sale			Sold			Pre SFAS No. 144

Rental revenue:
Minimum rents	$	46,962		$	1,065		$	6		$	1,059		$	48,027		$	173,151		$	9,392		$	21		$	9,371		$	182,543
Expense recoveries		13,070			352			1			351			13,422			48,037			2,139			4			2,135			50,176
Termination fees		2,919			8			-			8			2,927			3,490			873			-			873			4,363
Percentage rent		44			7			-			7			51			1,915			282			-			282			2,197
Total rental revenue		62,995			1,432			7			1,425			64,427			226,593			12,686			25			12,661			239,279

Costs and expenses:
Property operating expenses		16,515			343			4			339			16,858			60,102			3,293			12			3,281			63,395
Rental property depreciation and amortization		10,141			212			-			212			10,353			35,631			1,584			1			1,583			37,215
General and administrative expenses		5,618			-			-			-			5,618			16,601			-			-			-			16,601
Total costs and expenses		32,274			555			4			551			32,829			112,334			4,877			13			4,864			117,211

Income before other income and expenses, minority interest and discontinued operations		30,721			877			3			874			31,598			114,259			7,809			12			7,797			122,068
Other income and expenses:
Interest expense		(12,088	)		(149	)		-			(149	)		(12,237	)		(45,733	)		(1,396	)		-			(1,396	)		(47,129	)
Amortization of deferred financing fees		(381	)		-			-			-			(381	)		(1,370	)		(89	)		-			(89	)		(1,459	)
Investment income		734			-			-			-			734			2,346			-			-			-			2,346
Other income		241			-			-			-			241			537			-			-			-			537
Equity in loss of joint ventures		-			12			-			12			12			-			(46	)		-			(46	)		(46	)
Income before minority interest and discontinued operations		19,227			740			3			737			19,967			70,039			6,278			12			6,266			76,317
Minority interest		(47	)		-			-			-			(47	)		(576	)		(113	)		-			(113	)		(689	)

Income from continuing operations		19,180			740			3			737			19,920			69,463			6,165			12			6,153			75,628

Discontinued operations:
Income from rental properties sold or held for sale		740			(740	)		(3	)		(737	)		-			6,278			(6,278	)		(12	)		(6,266	)		-
Gain on disposal of income producing properties		8,409			-			-			-			8,409			22,176			-			-			-			22,176
Minority interest		-			-			-			-			-			(113	)		113			-			113			-
Income from discontinued operations		9,149			(740	)		(3	)		(737	)		8,409			28,341			(6,165	)		(12	)		(6,153	)		22,176

Net income	$	28,329		$	-		$	-		$	-		$	28,329		$	97,804		$	-		$	-		$	-		$	97,804

	For the three months ended						For the twelve months ended
	Dec 31, 2005			Dec 31, 2004			Dec 31, 2005			Dec 31, 2004

Net income	$	17,767		$	28,329		$	92,741		$	97,804
Adjustments:
Rental property depreciation and amortization, including discontinued operations		11,137			10,353			43,445			37,215
Gain on disposal of income producing properties		-			(8,409	)		(11,460	)		(22,176	)
Minority interest		28			27			110			623
Other items:
Pro-rata share of real estate depreciation from joint ventures		-			-			-			197
Funds from operations	$	28,932		$	30,300		$	124,836		$	113,663
*Increase*		*-4.5*	%					*9.8*	%


Earnings per diluted share*	$	0.24		$	0.39		$	1.24		$	1.37
Adjustments:
Rental property depreciation and amortization, including discontinued operations		0.14			0.14			0.58			0.52
Gain on disposal of income producing properties		-			(0.12	)		(0.15	)		(0.31	)
Other items:
Pro-rata share of real estate depreciation from joint ventures		-			-			-			-
Funds from operations per diluted share	$	0.38		$	0.41		$	1.67		$	1.58
*Increase*		*-7.3*	%					*5.7*	%

	Dec 31, 2005			Sep 30, 2005			Jun 30, 2005			Mar 31, 2005			Dec 31, 2004			Sep 30, 2004			Jun 30, 2004			Mar 31, 2004

Net income	$	17,767		$	28,041		$	25,143		$	21,790		$	28,329		$	30,701		$	18,535		$	20,239
Adjustments:
Rental property depreciation and amortization including discontinued operations		11,137			10,924			10,938			10,446			10,353			9,324			9,104			8,434
(Gain) loss on disposal of income producing properties		-			(6,088	)		(3,757	)		(1,615	)		(8,409	)		(12,215	)		483			(2,035	)
Minority interest		28			27			27			28			27			223			174			199
Other items:
Pro-rata share of real estate depreciation from joint ventures		-			-			-			-			-			65			66			66

Funds from operations	$	28,932		$	32,904		$	32,351		$	30,649		$	30,300		$	28,098		$	28,362		$	26,903
*Sequential increase (decrease)*		*(10.6*	%)		*1.7*	%		*5.6*	%		*1.2*	%		*7.8*	%		*(0.9*	%)		*5.4*	%




Earnings per diluted share*	$	0.24		$	0.37		$	0.34		$	0.29		$	0.39		$	0.43		$	0.26		$	0.29
Adjustments:
Rental property depreciation and amortization, including discontinued operations		0.14			0.15			0.14			0.14			0.14			0.13			0.13			0.12
(Gain) loss on disposal of income producing properties		0.00			(0.08	)		(0.05	)		(0.02	)		(0.12	)		(0.17	)		0.01			(0.03	)
Other items:
Pro-rata share of real estate depreciation from joint ventures					-			-			-			-			-			-			-
Funds from operations per diluted share	$	0.38		$	0.44		$	0.43		$	0.41		$	0.41		$	0.39		$	0.40		$	0.38
*Sequential increase (decrease)*		*(11.6*	%)		*2.3*	%		*4.9*	%		-			*5.1*	%		*(2.5*	%)		*5.3*	%

	For the three months ended						For the twelve months ended
	Dec 31, 2005			Dec 31, 2004			Dec 31, 2005			Dec 31, 2004

Funds from operations	$	28,932		$	30,300		$	124,836		$	113,663
Adjust for certain non-cash items:
Amortization of deferred financing fees		391			381			1,512			1,459
Amortization of above/below market rent intangibles		(254	)		(127	)		(1,006	)		(192	)
Amortization of restricted stock		1,498			1,423			5,973			5,401
Straight line rents		(940	)		(1,121	)		(4,450	)		(3,835	)
Capitalized interest		(1,055	)		(996	)		(3,354	)		(3,204	)
Amortization of debt premium/discount		(1,264	)		(1,266	)		(5,159	)		(4,958	)
Total non-cash items		(1,624	)		(1,706	)		(6,484	)		(5,329	)

Adjust for recurring capital expenditures:
Tenant improvements		(572	)		(570	)		(4,935	)		(1,504	)
Leasing commissions and costs		(1,094	)		(737	)		(4,583	)		(2,744	)
Other capital expenditures		(686	)		(305	)		(1,988	)		(1,236	)
Total recurring capital expenditures		(2,352	)		(1,612	)		(11,506	)		(5,484	)

Funds available for distribution before debt payments		24,956			26,982			106,846			102,850
Scheduled debt payments		(2,621	)		(2,600	)		(10,578	)		(9,792	)

Funds available for distribution	$	22,335		$	24,382		$	96,268		$	93,058
*Increase*		*-8.4*	%					*3.4*	%

Funds available for distribution per diluted share	$	0.30		$	0.33		$	1.29		$	1.29
*Increase*		*-9.1*	%					*0.0*	%


Cash dividends	$	22,588		$	21,277		$	87,272		$	80,904


Weighted average diluted shares		75,501			73,616			74,790			72,036

	Dec 31, 2005			Sep 30, 2005			Jun 30, 2005			Mar 31, 2005			Dec 31, 2004			Sep 30, 2004			Jun 30, 2004			Mar 31, 2004

Funds from operations	$	28,932		$	32,904		$	32,351		$	30,649		$	30,300		$	28,098		$	28,362		$	26,903
Adjust for certain non-cash items:
Amortization of deferred financing fees		391			372			370			379			381			409			404			265
Amortization of above/below market rent intangibles		(254	)		(240	)		(364	)		(148	)		(127	)		(48	)		(15	)		(2	)
Amortization of restricted stock		1,498			1,523			1,466			1,486			1,423			1,428			1,378			1,172
Straight line rents		(940	)		(1,157	)		(1,086	)		(1,267	)		(1,121	)		(1,100	)		(1,070	)		(544	)
Capitalized interest		(1,055	)		(876	)		(790	)		(633	)		(996	)		(676	)		(720	)		(812	)
Amortization of debt premium/discount		(1,264	)		(1,274	)		(1,335	)		(1,286	)		(1,266	)		(1,230	)		(1,247	)		(1,215	)
Total non-cash items		(1,624	)		(1,652	)		(1,739	)		(1,469	)		(1,706	)		(1,217	)		(1,270	)		(1,136	)

Adjust for recurring capital expenditures:
Tenant improvements		(572	)		(1,624	)		(2,374	)		(365	)		(570	)		(295	)		(409	)		(230	)
Leasing commissions and costs		(1,094	)		(1,097	)		(881	)		(1,511	)		(737	)		(871	)		(967	)		(169	)
Other capital expenditures		(686	)		(386	)		(502	)		(414	)		(305	)		(405	)		(285	)		(241	)
Total recurring capital expenditures		(2,352	)		(3,107	)		(3,757	)		(2,290	)		(1,612	)		(1,571	)		(1,661	)		(640	)

Funds available for distribution before debt payments		24,956			28,145			26,855			26,890			26,982			25,310			25,431			25,127
Scheduled debt payments		(2,621	)		(2,547	)		(2,655	)		(2,755	)		(2,600	)		(2,514	)		(2,405	)		(2,273	)

Funds available for distribution	$	22,335		$	25,598		$	24,200		$	24,135		$	24,382		$	22,796		$	23,026		$	22,854
*Sequential increase (decrease)*		*(7.7*	%)		*5.8*	%		*0.3*	%		*(1.0*	%)		*7.0*	%		*(1.0*	%)		*0.8*	%



Funds available for distribution per diluted share	$	0.30		$	0.34		$	0.32		$	0.33		$	0.33		$	0.32		$	0.32		$	0.32
*Sequential increase (decrease)*		*(6.3*	%)		*(12.5*	%)		*(3.0*	%)		-			*3.1*	%		-			-



Cash dividends	$	22,588		$	21,683		$	21,575		$	21,426		$	21,277		$	20,272		$	19,725		$	19,630

	Dec 31, 2005			Sep 30, 2005			Jun 30, 2005			Mar 31, 2005			Dec 31, 2004			Sep 30, 2004			Jun 30, 2004			Mar 31, 2004
Assets
Properties
Income producing	$	1,661,243		$	1,644,783		$	1,488,652		$	1,911,819		$	1,915,216		$	1,777,783		$	1,780,145		$	1,740,063
Less: accumulated depreciation		(111,031	)		(102,620	)		(86,123	)		(104,718	)		(95,934	)		(86,871	)		(78,492	)		(74,485	)
Rental property		1,550,212			1,542,163			1,402,529			1,807,101			1,819,282			1,690,912			1,701,653			1,665,578
Construction in progress and land held for development		64,202			57,950			52,818			50,026			41,759			44,652			38,803			54,338
Property held for sale		282,091			287,099			432,936			9,199			12,646			12,232			44,185			1,231
Properties, net		1,896,505			1,887,212			1,888,283			1,866,326			1,873,687			1,747,796			1,784,641			1,721,147

Cash and cash equivalents		102			-			-			-			5,122			1,988			-			17
Cash held in escrow		-			3,308			-			-			-			8,734			5,814			1,884
Accounts and other receivables, net		17,600			13,978			12,643			10,204			15,699			12,135			9,403			8,919
Securities		67,588			27,601			52,303			44,593			35,756			29,405			18,287			-
Goodwill		12,013			12,007			13,807			13,807			14,020			14,184			14,477			14,578
Other assets		58,225			59,506			48,333			57,719			48,008			61,014			46,958			45,554

Total	$	2,052,033		$	2,003,612		$	2,015,369		$	1,992,649		$	1,992,292		$	1,875,256		$	1,879,580		$	1,792,099

Liabilities and stockholders' equity
Liabilities
Mortgage notes payable	$	392,480			391,801		$	389,907		$	488,817		$	495,056		$	480,739		$	497,741		$	470,263
Mortgage notes payable related to properties held for sale		54,445			57,745			64,296			-			-			-			-			-
Unsecured revolving credit facilities		93,165			39,000			179,387			144,763			147,000			64,000			80,541			50,879
Unsecured senior notes payable		465,404			465,532			347,310			345,165			347,261			350,000			350,000			350,000
Payable for securities		-			-			4,774			-			-			-			11,075			-
Total debt		1,005,494			954,078			985,674			978,745			989,317			894,739			939,357			871,142
Unamortized premium/discount on notes payable		15,830			17,093			18,984			20,318			21,603			20,354			21,585			23,894
Total notes payable		1,021,324			971,171			1,004,658			999,063			1,010,920			915,093			960,942			895,036

Accounts payable and other liabilities		56,555			62,115			53,446			48,787			48,587			54,521			52,192			36,639
Total liabilities		1,077,879			1,033,286			1,058,104			1,047,850			1,059,507			969,614			1,013,134			931,675

Minority interest		1,425			1,457			1,437			1,417			1,397			1,388			12,400			12,444

Stockholders' equity		972,729			968,869			955,828			943,382			931,388			904,254			854,046			847,980

Total	$	2,052,033		$	2,003,612		$	2,015,369		$	1,992,649		$	1,992,292		$	1,875,256		$	1,879,580		$	1,792,099



Debt Instrument	Maturity date		Rate (1)		Dec 31, 2005 balance		Dec 31, 2004 balance		Percent of total indebtedness

Mortgage debt
Lantana Village (2)		03/15/05		6.950%	$	-	$	3,512		NA
Elmwood Oaks (2)		06/01/05		8.375%		-		7,500		NA
Benchmark Crossing (2)		08/01/05		9.250%		-		3,226		NA
Sterling Plaza (2)		09/01/05		8.750%		-		3,874		NA
Woodruff (2)		09/10/05		7.580%		-		2,969		NA
Townsend Square (2)		10/01/05		8.500%		-		4,768		NA
Green Oaks (2)		11/01/05		8.375%		-		2,937		NA
Melbourne Plaza (2)		11/01/05		8.375%		-		1,698		NA
Medford (3)		03/01/06		8.690%		5,206		5,512		0.51%
Swampscott (3)		03/01/06		8.690%		2,262		2,395		0.22%
Plymouth (3)		03/01/06		8.690%		3,805		4,029		0.37%
Walden Woods		08/01/06		7.875%		2,148		2,272		0.21%
Big Curve (4)		10/01/06		9.190%		-		5,310		NA
Highland Square		12/01/06		8.870%		3,847		3,951		0.38%
Park Northern (4)		12/01/06		8.370%		-		2,182		NA
Crossroads Square		12/01/06		8.440%		12,123		12,324		1.19%
Rosemeade		12/01/07		8.295%		3,031		3,109		0.30%
Colony Plaza		01/01/08		7.540%		2,932		2,976		0.29%
Parkwood		01/01/08		7.280%		6,015		6,110		0.59%
Richwood		01/01/08		7.280%		3,099		3,147		0.30%
Commonwealth		02/15/08		7.000%		2,510		2,636		0.25%
Mariners Crossing		03/01/08		7.080%		3,280		3,332		0.32%
Pine Island/Ridge Plaza		07/01/08		6.910%		24,195		24,582		2.37%
Forestwood		01/01/09		5.070%		6,961		7,128		0.68%
North Port Shopping Center		02/08/09		6.650%		3,902		4,008		0.38%
Prosperity Centre		03/01/09		7.875%		5,624		6,022		0.55%
Ibis Shopping Center		09/01/09		6.730%		5,497		5,687		0.54%

Page 18



Debt Instrument	Maturity date		Rate (1)		Dec 31, 2005 balance		Dec 31, 2004 balance		Percent of total indebtedness

Tamarac Town Square		10/01/09		9.190%	$	6,029	$	6,122		0.59%
Park Promenade		02/01/10		8.100%		6,173		6,241		0.60%
Skipper Palms		03/01/10		8.625%		3,493		3,526		0.34%
Jonathan's Landing		05/01/10		8.050%		2,832		2,868		0.28%
Bluff's Square		06/01/10		8.740%		9,914		10,005		0.97%
Kirkman Shoppes		06/01/10		8.740%		9,362		9,448		0.92%
Ross Plaza		06/01/10		8.740%		6,529		6,589		0.64%
Boynton Plaza		07/01/10		8.030%		7,345		7,423		0.72%
Pointe Royale		07/15/10		7.950%		4,015		4,284		0.39%
Westgate Marketplace		07/31/10		4.880%		29,159		29,625		2.86%
Shops at Skylake		08/01/10		7.650%		13,874		14,266		1.36%
Parkwest Crossing		09/01/10		8.100%		4,636		4,684		0.45%
Spalding Village		09/01/10		8.190%		9,899		10,231		0.97%
Minyards		11/01/10		8.320%		2,432		2,473		0.24%
Charlotte Square		02/01/11		9.190%		3,479		3,550		0.34%
Forest Village		04/01/11		7.270%		4,389		4,441		0.43%
Boca Village		05/01/11		7.200%		8,114		8,211		0.79%
MacLand Pointe		05/01/11		7.250%		5,731		5,798		0.56%
Pine Ridge Square		05/01/11		7.020%		7,184		7,273		0.70%
Sawgrass Promenade		05/01/11		7.200%		8,115		8,211		0.79%
Presidential Markets		06/01/11		7.650%		26,872		27,159		2.63%
Lake Mary		11/01/11		7.250%		24,011		24,282		2.35%
Lake St. Charles		11/01/11		7.130%		3,790		3,833		0.37%
Belfair Towne Village		12/01/11		7.320%		10,984		11,197		1.08%
Marco Town Center		01/01/12		6.700%		8,413		8,578		0.82%
Riverside Square		03/01/12		9.190%		7,474		7,589		0.73%
Sparkleberry Square (5)		11/30/12		6.170%		6,526		6,655		0.64%
Cashmere Corners		11/01/12		5.880%		5,032		5,141		0.49%



Debt Instrument	Maturity date		Rate (1)		Dec 31, 2005 balance		Dec 31, 2004 balance		Percent of total indebtedness

Eastwood		11/01/12		5.880%	$	5,996	$	6,126		0.59%
Meadows Shopping Center		11/01/12		5.870%		6,301		6,438		0.62%
Lutz Lake		12/01/12		6.280%		7,500		7,500		0.73%
Summerlin Square		02/01/14		6.750%		3,326		3,622		0.33%
Bird Ludlum		02/15/15		7.680%		9,035		9,690		0.88%
Treasure Coast Plaza		04/01/15		8.000%		4,238		4,532		0.41%
Shoppes of Silverlakes		07/01/15		7.750%		2,460		2,627		0.24%
Grassland Crossing		12/01/16		7.870%		5,657		5,827		0.55%
Mableton Crossing		08/15/18		6.850%		3,961		4,062		0.39%
Sparkleberry Square (5)		06/30/20		6.750%		7,618		7,918		0.75%
BridgeMill		05/05/21		7.940%		9,221		9,395		0.90%
Westport Plaza		08/24/23		7.490%		4,782		4,876		0.47%
Chastain Square		02/28/24		6.500%		3,719		3,821		0.36%
Daniel Village		02/28/24		6.500%		4,064		4,177		0.40%
Douglas Commons		02/28/24		6.500%		4,842		4,976		0.47%
Fairview Oaks		02/28/24		6.500%		4,583		4,710		0.45%
Madison Centre		02/28/24		6.500%		3,718		3,821		0.36%
Paulding Commons		02/28/24		6.500%		6,312		6,487		0.62%
Siegen Village		02/28/24		6.500%		4,107		4,221		0.40%
Wesley Chapel Crossing		02/28/24		6.500%		3,242		3,331		0.32%

Total mortgage debt (65 loans)		5.2 years		7.19%		446,925		495,056		43.76%
Net interest premium/discount	(wtd-avg maturity)		(wtd-avg interest rate)			11,006		12,721		1.08%
Total mortgage debt (including net interest premium/discount)					$	457,931	$	507,777		44.84%



Debt Instrument	Maturity date		Rate (1)			Dec 31, 2005 balance			Dec 31, 2004 balance			Percent of total indebtedness

Unsecured senior notes payable
7.77% senior notes		04/01/06		7.770%		$	50,000		$	50,000			4.90%
7.25% senior notes		08/15/07		7.250%			75,000			75,000			7.34%
3.875% senior notes (6)		04/15/09		3.875%			200,000			200,000			19.58%
Fair value of interest rate swap (6)		04/15/09		6-month Libor + 0.4375%			(4,596	)		(2,739	)		(0.45%	)
7.84% senior notes		01/23/12		7.840%			25,000			25,000			2.45%
5.375% senior notes		10/15/15		5.375%			120,000			-			11.75%

Total unsecured senior notes payable		4.6 years		5.20%			465,404			347,261			45.57%
Net interest premium/discount	(wtd-avg maturity)		(wtd-avg interest rate)				4,824			8,882			0.47%
Total unsecured senior notes payable (including net interest premium/discount)						$	470,228		$	356,143			46.04%


Revolving credit facilities
$275MM Wells Fargo Unsecured		01/17/09		4.684%			93,000			147,000			9.11%
$5MM City National Bank Unsecured		02/12/06		5.237%			165			-			0.02%
Total revolving credit facilities						$	93,165		$	147,000			9.12%

Total debt							1,005,494			989,317			98.45%
Net interest premium/discount							15,830			21,603			1.55%
Total debt (including net interest premium/discount)						$	1,021,324		$	1,010,920			100.00%


Senior Unsecured Debt Ratings
Moody's					Baa3 (Positive			)	Baa3 (Stable		)
S&P					BBB- (Stable)			*	BBB- (Stable		)

(1)	The rate in effect on December 31, 2005.

(2)	These loans have been paid off prior to the stated maturity without incurring any pre-payment penalties.

(3)	We notified the lender of our intent to prepay these mortgages on March 1, 2006. The original maturity date of the notes was February 1, 2016.

(4)	This loan was assumed or prepaid by the buyer in connection with the sale of this property.

(5)	The Sparkleberry property is encumbered by two separate mortgages.

(6)	$100M of the outstanding balance has been swapped to a floating interest rate based on six-month LIBOR in arrears, plus 0.4375%. The indicated rate and weighted average rate for the unsecured notes does not reflect the effect of the interest rate swap.

(7)	Represents the entire principal balance of a maturing loan on the maturity date. Credit facilities are shown as due on the initial maturity dates, though certain extension options maybe available.

(8)	The 2006 balloon payment amount includes the outstanding principal of $11,190 we intend to prepay in March 2006.

(9)	Excludes the adjustment attributable to the fair value of the associated interest rate swap.

			Year	Total		number		Supermarket anchor				Average
			built /	square footage	Percent	of tenants		owned	shadow	name		base rent
Property		City	renovated	owned	leased	leased	vacant	SF	SF	expiration date	Other anchor tenants	per leased SF

ALABAMA (2)

	Madison Centre	Madison	1997	64,837	97.5%	12	1	37,912		Publix	Rite Aid	$ 9.58
										(6/1/2017)

	West Gate Plaza	Mobile	1974 / 1985	64,378	96.2%	6	3	44,000		Winn-Dixie	Rite Aid	6.98
										(7/19/2015)

TOTAL SHOPPING CENTERS ALABAMA (2)				129,215	96.9%	18	4	81,912	0			$ 8.29


FLORIDA (79)

North Florida (13)

	Atlantic Village	Atlantic Beach	1984 / 1998	100,559	92.4%	22	3	39,795		Publix	JoAnn Fabrics, Dollar Tree	10.28
										(10/31/2008)

	Beauclerc Village	Jacksonville	1962 / 1988	70,429	86.9%	10	1				Big Lots, Goodwill, Bealls Outlet	8.03


	Commonwealth	Jacksonville	1984 / 1998	81,467	94.0%	14	2	48,997		Winn-Dixie/Save Rite		8.42
										(2/28/2018)

	Forest Village	Tallahassee	2000	71,526	90.5%	12	5	37,866		Publix		10.41
										(4/30/2020)

	Ft. Caroline	Jacksonville	1985 / 1995	74,546	82.3%	10	3	45,500		Winn-Dixie		7.49
										(5/31/2015)

	Mandarin Landing	Jacksonville	1976 / 2000	141,565	88.8%	32	5	34,400		Publix	Office Depot	10.06
										(2/14/2007)

	Medical & Merchants	Jacksonville	1993	152,761	96.9%	14	3	55,999		Publix	Memorial Health Group,	12.08
										(2/10/2013)	Blockbuster

	Middle Beach	Panama City Beach	1994	69,277	100.0%	9	0	56,077		Publix	Movie Gallery	9.61
										(9/30/2014)

	Monument Point	Jacksonville	1985 / 1997	75,128	100.0%	12	0	46,772		Winn-Dixie	CVS Pharmacy	6.81
										(3/27/2010)

	Oak Hill	Jacksonville	1985 / 1997	78,492	100.0%	19	0	39,795		Publix	Beall's	7.21
										(3/11/2010)

	Parkmore Plaza	Milton	1986	159,093	100.0%	13	0				Bealls, Big Lots	4.37


	Pensacola Plaza	Pensacola	1985	56,098	100.0%	3	0	42,848		FoodWorld		4.52
										(12/31/2009)

	South Beach	Jacksonville Beach	1990, 1991	289,964	82.5%	40	11				Home Depot, Stein Mart, Bealls	10.49


Central Florida (11)

	Alafaya Commons	Orlando	1987	123,133	100.0%	29	0	54,230		Publix	Blockbuster	12.06
										(11/30/2007)

	Conway Crossing	Orlando	2002	76,321	100.0%	18	0	44,271		Publix		11.92
										(4/30/2022)

	Eastwood	Orlando	1997	69,037	100.0%	13	0	51,512		Publix		11.49
										(11/1/2017)

	Eustis Square	Eustis	1983 / 1997 / 2004	126,791	96.2%	22	4	15,872		Save-a-Lot	Accent Marketing,	5.85
										(5/31/2013)	Goodwill, Fred's Store

	Hunters Creek	Orlando	1998	68,032	24.7%	8	1					19.32

			Year	Total		number		Supermarket anchor				Average
			built /	square footage	Percent	of tenants		owned	shadow	name		base rent
Property		City	renovated	owned	leased	leased	vacant	SF	SF	expiration date	Other anchor tenants	per leased SF

	Kirkman Shoppes	Orlando	1973	88,820	98.0%	29	1				Party Depot	$ 17.11


	Lake Mary	Orlando	1988 / 2001	342,384	99.1%	69	16	63,139		Albertsons	Kmart, Lifestyle Fitness,	11.52
										(6/30/2012)	Sunstar Movie Theatres

	Park Promenade	Orlando	1987 / 2000	125,818	97.9%	25	1	55,000		Publix*	Orange County Library,	8.63
										(2/9/2007)	Blockbuster, Goodwill

	Town & Country	Kissimmee	1993	72,043	100.0%	13	0	52,883		Albertsons		7.59
										(10/31/2018)

	Unigold	Winter Park	1987	117,527	95.9%	23	2	52,500		Winn-Dixie	Blockbuster,	10.86
										(4/30/2007)	Lifestyle Family Fitness

	Walden Woods	Plant City	1985 / 1998, 2003	75,874	82.9%	12	1				Dollar Tree, Aaron Rents, Dollar General	6.72


Florida West Coast (17)

	Bay Pointe Plaza	St. Petersburg	1984 / 2002	103,986	95.6%	20	4	52,610		Publix	Bealls Outlet, West Marine	9.73
										(11/30/2021)

	Carrollwood	Tampa	1970 / 2002	94,203	92.3%	30	5	27,887		Publix	Floors Today	12.03
										(11/30/2022)

	Charlotte Square	Port Charlotte	1980	96,188	97.3%	22	2				American Signature Furniture, Seafood Buffet	8.12


	Chelsea Place	New Port Richey	1992	81,144	98.8%	17	1	48,890		Publix	CVS Pharmacy	11.21
										(5/27/2012)

	Lake St. Charles	Tampa	1999	57,015	100.0%	8	0	46,295		Kash n' Karry		9.92
										(6/30/2019)

	Lutz Lake	Lutz	2002	64,985	100.0%	15	0	44,270		Publix		13.95
										(5/31/2022)

	Marco Town Center	Marco Island	2001	109,830	100.0%	42	0	27,887		Publix	West Marine	18.06
										(1/31/2018)

	Mariners Crossing	Spring Hill	1989 / 1999	85,507	100.0%	14	0	48,315		Kash n' Karry		8.51
										(8/15/2020)

	Pavilion	Naples	1982	167,745	92.3%	39	3	50,795		Publix	Pavillion 6 Theatre,	14.80
										(2/28/2013)	Anthony's

	Regency Crossing	Port Richey	1986 / 2001	85,864	90.2%	18	7	44,270		Publix		10.33
										(2/28/2021)

	Ross Plaza	Tampa	1984 / 1996	85,359	99.8%	18	1				Ross Dress for Less, Laminate Kingdom	10.23


	Seven Hills	Spring Hill	1991	64,590	100.0%	12	0	48,890		Publix		9.90
										(9/25/2011)

	Shoppes of North Port	North Port	1991	84,705	100.0%	22	0	48,890		Publix	Bealls Outlet	10.10
										(12/11/2011)

	Skipper Palms	Tampa	1984	88,000	87.8%	13	4	53,440		Winn-Dixie		8.55
										(5/31/2016)

	Summerlin Square	Fort Myers	1986 / 1998	109,156	89.7%	20	8	45,500		Winn-Dixie	CVS Pharmacy,	10.63
										(6/4/2011)	West Marine

	Venice Plaza	Venice	1971/ 1979 / 1999	148,779	84.2%	14	2	42,582		Kash n' Karry	TJ Maxx, Blockbuster	5.54
										(9/30/2018)

	Venice Shopping Center	Venice	1968 / 2000	111,934	98.1%	14	1	44,271		Publix	Beall's Outlet, Dollar Tree,	5.39
										(12/31/2026)	Wachovia Bank

			Year	Total		number		Supermarket anchor				Average
			built /	square footage	Percent	of tenants		owned	shadow	name		base rent
Property		City	renovated	owned	leased	leased	vacant	SF	SF	expiration date	Other anchor tenants	per leased SF

Florida Treasure Coast (8)

	Bluffs Square	Jupiter	1986	132,395	99.8%	46	1	39,795		Publix	Walgreens	$ 12.75
										(10/22/2006)

	Cashmere Corners	Port St. Lucie	2001	89,234	99.1%	17	1	59,448		Albertsons		8.29
										(4/30/2025)

	Jonathan's Landing	Jupiter	1997	26,820	100.0%	12	0		53,850	Albertsons	Blockbuster	19.02


	New Smyrna Beach	New Smyrna Beach	1987	118,451	100.0%	34	0	42,112		Publix	Walgreens* (Bealls Outlet),	10.28
										(9/30/2007)	Bealls Home Outlet, Blockbuster

	Old King Commons	Palm Coast	1988	84,759	100.0%	19	0				Wal-Mart* (Bealls Outlet)	8.24


	Ryanwood	Vero Beach	1987	114,925	100.0%	32	0	39,795		Publix	Bealls Outlet,	10.00
										(3/23/2017)	Books-A-Million

	Salerno Village	Stuart	1987	79,903	98.9%	19	1	45,802		Winn-Dixie	CVS Pharmacy	10.61
										(3/23/2024)

	Treasure Coast	Vero Beach	1983	133,781	97.2%	23	2	59,450		Winn-Dixie	TJ Maxx	8.83
										(4/12/2015)

South Florida / Atlantic Coast (30)

	Bird Ludlum	Miami	1988 / 1998	192,282	97.9%	44	1	44,400		Winn-Dixie	CVS Pharmacy, Blockbuster,	15.34
										(12/31/2007)	Goodwill, Bird Executive Suites

	Boca Village	Boca Raton	1978	93,428	94.8%	19	2	36,000		Publix	CVS Pharmacy	15.26
										(3/31/2007)

	Boynton Plaza	Boynton Beach	1978 / 1999	99,324	100.0%	29	0	37,664		Publix	CVS Pharmacy,	11.45
										(8/31/2008)	Hollywood Video

	Countryside Shops	Cooper City	1986, 1988, 1991	179,561	96.9%	45	2	39,795		Publix	CVS Pharmacy,	12.75
										(12/4/2010)	Stein Mart

	Crossroads Square	Ft. Lauderdale	1973	270,206	98.2%	24	3				Lowe's, CVS Pharmacy, 99 Cent Stuff	7.87


	CVS Plaza	Miami	2004	29,204	100.0%	8	0				CVS Pharmacy	16.46


	El Novillo	Miami Beach	1970 / 2000	10,000	100.0%	1	0				Jumbo Buffet	15.94


	Homestead Gas Station	Homestead	1959	2,136	100.0%	1	0					20.33


	Greenwood	Palm Springs	1982, 1994	132,325	94.8%	33	5	50,032		Publix	Bealls Outlet,	12.26
										(12/5/2014)	World Savings Bank

	Lago Mar	Miami	1995	82,613	100.0%	20	0	42,323		Publix	Blockbuster	13.34
										(9/13/2015)

	Lantana Village	Lantana	1976 / 1999	181,780	99.2%	24	2	39,473		Winn-Dixie	Kmart, Rite Aid*	7.19
										(2/15/2011)	(Family Dollar), Hollywood Video

	Meadows	Miami	1997	75,524	100.0%	20	0	47,955		Publix		12.90
										(7/9/2017)

	Oakbrook Square	Palm Beach Gardens	1974 / 2000, 2003	212,074	92.7%	28	2	44,400		Publix	Stein Mart, Homegoods,	13.66
										(11/30/2020)	CVS, Basset Furniture, Duffy's Sports Bar

	Pine Island	Davie	1983 / 1999	254,907	96.8%	46	1	39,943		Publix	Home Depot Expo,	10.49
										(11/30/2013)	Bealls Outlet

	Pine Ridge Square	Coral Springs	1986 / 1998, 1999	117,399	98.3%	33	2	17,441		Fresh Market	Bed Bath & Beyond,	13.87
										(6/30/2009)	Off Main Furniture, Blockbuster

	Plaza Alegre	Miami	2003	91,611	98.7%	20	1	44,271		Publix	Goodwill,	14.64
										(3/14/2023)	Blockbuster

			Year	Total		number		Supermarket anchor				Average
			built /	square footage	Percent	of tenants		owned	shadow	name		base rent
Property		City	renovated	owned	leased	leased	vacant	SF	SF	expiration date	Other anchor tenants	per leased SF

	Point Royale	Miami	1970 / 2000	209,863	98.2%	24	1	45,350		Winn-Dixie	Best Buy, CVS Pharmacy*	$ 6.50
										(2/18/2011)	(Anna's Linens)

	Prosperity Centre	Palm Beach Gardens	1993	122,106	100.0%	9	0				Office Depot, Barnes & Noble, Bed Bath & Beyond, Carmine's, TJ Maxx	15.63


	Ridge Plaza	Davie	1984 / 1999	155,204	98.7%	28	1		(see Pine Island)		AMC Theater, Kabooms, Wachovia* (United Collection), Sofa Kings, Round Up	9.58


	Riverside Square	Coral Springs	1987	107,941	92.2%	32	4	39,795		Publix	Tuesday Morning	13.63
										(2/18/2007)

	Sawgrass Promenade	Deerfield Beach	1982 / 1998	107,092	97.0%	28	1	36,464		Publix	Walgreens, Blockbuster	11.36
										(12/15/2009)

	Sheridan	Hollywood	1973 / 1991	455,843	97.3%	62	4	65,537		Publix	Ross, Bed Bath & Beyond,	13.88
										(10/9/2011)	Blockbuster, Office Depot, AMC Theater, CVS, LA Fitness

	Shoppes of Ibis	West Palm Beach	1999	79,420	100.0%	18	0	51,420		Publix		12.90
										(4/30/2019)

	Shoppes of Silverlakes	Pembroke Pines	1995, 1997	126,788	99.2%	39	1	47,813		Publix	Blockbuster	16.57
										(6/14/2015)

	Shops at Skylake	North Miami Beach	1999-2005	247,919	99.6%	47	1	51,420		Publix	Goodwill, L.A. Fitness,	15.95
										(7/31/2019)	Blockbuster

	Tamarac Town Square	Tamarac	1987	127,635	93.1%	35	5	37,764		Publix	Dollar Tree	11.10
										(12/15/2014)

	Waterstone	Homestead	2005	68,700	100.0%	12	0	45,600		Publix		15.58
										(7/31/2025)

	West Lakes Plaza	Miami	1984 / 2000	100,747	100.0%	27	0	46,216		Winn-Dixie	Navarro Pharmacy	11.36
										(10/31/2016)

	Westport Plaza	Davie	2002	36,212	100.0%	5	0	27,887		Publix	Blockbuster	16.80
										(11/30/2022)

	Young Circle	Hollywood	1962 / 1997	65,834	98.1%	9	1	23,124		Publix	Walgreens	15.22
										(11/30/2016)

TOTAL SHOPPING CENTERS FLORIDA (79)				9,161,621	95.8%	1,781	142	2,800,737	53,850			$ 11.14

GEORGIA (24)

Atlanta (19)

	BridgeMill	Canton	2000	89,102	91.4%	26	5	37,888		Publix		14.84
										(1/31/2020)

	Butler Creek	Acworth	1990	95,597	96.9%	17	2	59,997		Kroger		10.88
										(6/30/2018)

	Chastain Square	Atlanta	1981 / 2001	91,637	100.0%	28	0	37,366		Publix		16.53
										(5/31/2024)

	Commerce Crossing	Commerce	1988	105,188	56.9%	7	4	32,000		Ingles	Fred's Store	4.70
										(9/26/2009)

	Douglas Commons	Douglasville	1988	97,027	98.8%	16	1	59,431		Kroger		10.09
										(8/31/2013)

	Fairview Oaks	Ellenwood	1997	77,052	100.0%	13	0	54,498		Kroger	Blockbuster	11.42
										(9/30/2016)

	Grassland Crossing	Alpharetta	1996	90,906	93.2%	11	3	70,086		Kroger		11.61
										(6/30/2016)

	Hairston Center	Decatur	2000	13,000	69.2%	6	3					17.56


	Hamilton Ridge	Buford	2002	89,496	96.9%	19	1	54,166		Kroger		12.89
										(11/30/2022)

			Year	Total		number		Supermarket anchor				Average
			built /	square footage	Percent	of tenants		owned	shadow	name		base rent
Property		City	renovated	owned	leased	leased	vacant	SF	SF	expiration date	Other anchor tenants	per leased SF

	Mableton Crossing	Mableton	1997	86,819	98.6%	16	1	63,419		Kroger		$ 10.31
										(8/31/2017)

	Macland Pointe	Marietta	1992-1993	79,699	98.5%	16	1	55,999		Publix		9.72
										(12/29/2012)

	Market Place	Norcross	1976	77,706	94.3%	19	4				Peachtree Cinema	10.40


	Paulding Commons	Dallas	1991	192,391	95.9%	27	4	49,700		Kroger	Kmart	8.06
										(2/28/2011)

	Powers Ferry Plaza	Marietta	1979, 1987 / 1998	86,473	93.2%	21	4				Micro Center	10.51


	Presidential Markets	Snellville	1993-2000	396,408	96.3%	31	4	56,146		Publix	Bed Bath & Beyond, GAP, TJ Maxx, Shoe Carnival, Borders, Ross Dress for Less, Marshalls, Carmike Cinema, Office Depot	10.29
										(12/31/2019)

	Shops of Huntcrest	Lawrenceville	2003	97,040	100.0%	26	0	54,340		Publix		14.04
										(1/31/2023)

	Wesley Chapel Crossing	Decatur	1989	170,792	37.9%	17	8	32,000		Ingles*	CVS Pharmacy	8.32
										(9/25/2009)

	West Towne Square	Rome	1988	89,596	84.4%	13	5				Big Lots	5.44


	Williamsburg @ Dunwoody	Dunwoody	1983	44,928	100.0%	27	0					18.05


Central Georgia (3)

	Daniel Village	Augusta	1956 / 1997	171,932	95.4%	35	4	45,971		Bi-Lo	Eckerd, St. Joseph Home Health Care	7.88
										(3/25/2022)

	Spalding Village	Griffin	1989	235,318	68.0%	21	8	59,431		Kroger	JC Penney, Blockbuster,	7.89
										(5/31/2014)	Fred's Store

	Walton Plaza	Augusta	1990	43,460	97.9%	7	1	32,960		Harris Teeter* (Omni Fitness)		9.57
										(4/1/2011)

South Georgia (2)

	Colony Square	Fitzgerald	1987	50,000	71.6%	2	5	32,200		Food Lion* (Harvey's)		5.86
										(12/31/2007)

	McAlpin Square	Savannah	1979	176,807	94.4%	25	2	43,600		Kroger	US Post Office, Big Lots,	7.55
										(8/31/2015)	In Fashion Menswear Outlet

TOTAL SHOPPING CENTERS GEORGIA (24)				2,748,374	87.8%	446	70	931,198	0			$ 10.08

KENTUCKY (1)

	Scottsville Square	Bowling Green	1986	38,450	79.2%	9	3				Hancock Fabrics,	6.60
											Rugged Warehouse

TOTAL SHOPPING CENTERS KENTUCKY (1)				38,450	79.2%	9	3	0	0			$ 6.60

LOUISIANA (14)

	Ambassador Row	Lafayette	1980, 1991	193,978	82.5%	23	3				Conn's Appliances, Big Lots, Chuck E Cheese, Goody's	8.73


	Ambassador Row Courtyard	Lafayette	1986, 1991 / 2005	146,697	93.1%	20	3				Bed Bath & Beyond, Marshall's, Hancock Fabrics, United Training Academy	9.37


	Bluebonnet Village	Baton Rouge	1983	90,215	98.4%	19	1	33,387		Matherne's	Ace Hardware	8.48
										(11/30/2010)

	Boulevard	Lafayette	1976, 1994	68,012	95.1%	13	2				Piccadilly, Harbor Freight Tools, Golfballs.com	7.38


	Country Club Plaza	Slidell	1982 / 1994	64,686	92.3%	9	2	33,387		Winn-Dixie	Dollar General	5.87
										(1/31/2008)

			Year	Total		number		Supermarket anchor				Average
			built /	square footage	Percent	of tenants		owned	shadow	name		base rent
Property		City	renovated	owned	leased	leased	vacant	SF	SF	expiration date	Other anchor tenants	per leased SF

	Crossing	Slidell	1988, 1993	113,989	96.1%	13	2	58,432		Save A Center	A-1 Home Appliance,	$ 5.66
										(9/29/2009)	Piccadilly

	Elmwood Oaks	Harahan	1989	133,995	88.4%	9	2				Academy Sports, Dollar Tree, Advance Auto* (Goodwill)	9.56


	Grand Marche (ground lease)	Lafayette	1969	200,585	100.0%	1	0				Grand Marche	0.14


	Plaza Acadienne	Eunice	1980	105,419	52.6%	6	2	28,092		Super 1 Store	Fred's	4.37
										(6/30/2010)

	Sherwood South	Baton Rouge	1972, 1988, 1992	77,107	87.4%	8	1				Burke's Outlet, Harbor Freight Tools, Blockbuster, Fred's Store	7.01


	Siegen Village	Baton Rouge	1988	170,416	100.0%	20	0				Office Depot, Big Lots, Dollar Tree, Stage, Party City	8.47


	Tarpon Heights	Galliano	1982	56,605	85.6%	7	3				CVS Pharmacy, Stage, Dollar General	4.78


	Village at Northshore	Slidell	1988	144,638	97.6%	12	1				Marshalls, Dollar Tree, Kirschman's, Bed Bath & Beyond, Office Depot	8.45


	Wal-Mart Mathews	Mathews	1985	54,223	100.0%	1	0				Wal-Mart	2.90


TOTAL SHOPPING CENTERS LOUISIANA (14)				1,620,565	91.0%	161	22	153,298	0			$ 6.63

MASSACHUSETTS (6)

	Cambridge Star Market	Cambridge	1953 / 1997	66,108	100.0%	1	0	66,108		Star Market		26.89
										(1/2/2016)

	Medford Shaw's Supermarket	Medford	1995	60,356	100.0%	1	0	60,356		Shaw's		21.37
										(1/1/2016)

	Plymouth Shaw's Supermarket	Plymouth	1993	59,726	100.0%	1	0	59,726		Shaw's		15.79
										(1/1/2016)

	Quincy Star Market	Quincy	1965 / 1995	100,741	100.0%	1	0	100,741		Star Market		17.36
										(1/2/2016)

	Swampscott Whole Foods	Swampscott	1967 / 2005	35,907	100.0%	1	0	35,907		Whole Foods		21.00
										(1/1/2016)

	West Roxbury Shaw's Plaza	West Roxbury	1973 / 1995	68,141	100.0%	7	0	54,928		Shaw's		23.29
										(1/2/2016)

TOTAL SHOPPING CENTERS MASSACHUSETTS (6)				390,979	100.0%	12	0	377,766	0			$ 20.72

MISSISSIPPI (1)

	Shipyard Plaza	Pascagoula	1987	66,857	92.5%	7	1				Big Lots, Buffalo Wild Wings Gill & Bar	6.18


TOTAL SHOPPING CENTERS MISSISSIPPI (1)				66,857	92.5%	7	1	0	0			$ 6.18

NORTH CAROLINA (12)

	Centre Pointe Plaza	Smithfield	1989	163,642	95.7%	22	2				Belk's, Goody's, Dollar Tree, Aaron Rents	6.12


	Chestnut Square	Brevard	1985	39,640	91.9%	5	2	21,000		Food Lion*	Dollar General	6.13
										(9/28/2010)

	Galleria	Wrightsville Beach	1986, 1990	92,114	91.6%	31	6	28,000		Harris Teeter	Eckerd	8.86
										(4/5/2006)

	Parkwest Crossing	Durham	1990	85,602	100.0%	17	0	38,052		Food Lion		10.25
										(12/14/2010)

	Plaza North	Hendersonville	1986	47,240	94.9%	7	2	25,590		Bi-Lo*	CVS Pharmacy	6.73
										(8/31/2006)

			Year	Total		number		Supermarket anchor				Average
			built /	square footage	Percent	of tenants		owned	shadow	name		base rent
Property		City	renovated	owned	leased	leased	vacant	SF	SF	expiration date	Other anchor tenants	per leased SF

	Providence Square	Charlotte	1973	85,930	93.8%	20	5	35,702		Harris Teeter*	Eckerd	$ 8.20
										(4/30/2006)

	Riverview Shopping Center	Durham	1973 / 1995	127,498	96.5%	11	2	53,538		Kroger	Upchurch Drugs, Blockbuster,	7.19
										(12/31/2014)	Riverview Galleries

	Salisbury Marketplace	Salisbury	1987	79,732	93.9%	17	3	31,762		Food Lion		10.11
										(2/11/2023)

	Shelby Plaza	Shelby	1972	103,200	100.0%	8	0				Big Lots, Aaron Rents* (Hancock	3.17
											Fabrics), Tractor Supply Company

	Stanley Market Place	Stanley	1980, 1987	40,400	29.7%	2	1				Family Dollar	3.99


	Thomasville Commons	Thomasville	1991	148,754	98.1%	11	2	32,000		Ingles	Kmart, CVS Pharmacy	5.83
										(9/29/2012)

	Willowdaile Shopping Center	Durham	1986	121,376	84.1%	21	7	53,368		Harris Teeter	Hall of Fitness	10.54
										(5/14/2009)

TOTAL SHOPPING CENTERS NORTH CAROLINA (12)				1,135,128	92.5%	172	32	319,012	0			$ 7.35

SOUTH CAROLINA (8)

	Belfair Towne Village	Bluffton	2000-2003	125,389	100.0%	29	0	55,696		Kroger	Blockbuster	14.19
										(10/31/2019)

	Lancaster Plaza	Lancaster	1971 / 1990	77,400	32.6%	2	2	19,200		Bi-Lo		3.05
										(9/30/2010)

	Lancaster Shopping Center	Lancaster	1963, 1987	29,047	100.0%	2	0				Sweet Union Furniture	2.07


	North Village Center	North Myrtle Beach	1984	60,356	94.6%	11	3	24,806		Bi-Lo	Dollar General, Gold's Gym	8.53
										(5/31/2009)

	Sparkleberry Square	Columbia	1997 / 2004	339,051	99.5%	25	2	67,943		Kroger	Kohl's, Ross Dress for Less, Circuit City,	11.24
										(8/31/2017)	Bed Bath & Beyond, Petsmart, Pier One

	Spring Valley	Columbia	1978 / 1997	75,415	95.2%	15	3	45,070		Bi-Lo		9.12
										(12/31/2017)

	Windy Hill	North Myrtle Beach	1968 / 1988	64,465	100.0%	2	0				Rose's Store, Family Dollar Store	5.35


	Woodruff	Greenville	1995	68,055	100.0%	10	0	47,955		Publix	Blockbuster	10.26
										(8/6/2015)

TOTAL SHOPPING CENTERS SOUTH CAROLINA (8)				839,178	92.7%	96	10	260,670	0			$ 10.14

TENNESSEE (1)

	Smyrna Village	Smyrna	1992	83,334	96.6%	11	1	59,214		Kroger		8.34
										(2/29/2012)

TOTAL SHOPPING CENTERS TENNESSEE (1)				83,334	96.6%	11	1	59,214	0			$ 8.34

TEXAS (32)

Houston (17)

**	Barker Cypress	Houston	1999	66,945	86.8%	12	5	41,320		H.E.B.		12.46
										(1/31/2014)

**	Beechcrest	Houston	1981 / 2001	90,647	98.7%	14	1	40,345		Randall's*	Walgreens*	8.67
										(6/24/2016)

**	Benchmark Crossing	Houston	1986	58,384	100.0%	5	0				Bally's Fitness	12.98

Page 29

			Year	Total		number		Supermarket anchor				Average
			built /	square footage	Percent	of tenants		owned	shadow	name		base rent
Property		City	renovated	owned	leased	leased	vacant	SF	SF	expiration date	Other anchor tenants	per leased SF

**	Colony Plaza	Sugarland	1997	26,513	95.0%	14	1					$ 19.06


**	Copperfield	Houston	1994	133,984	97.6%	31	2				JoAnn Fabrics, Dollar Tree, 24 Hour Fitness	12.35


**	Forestwood	Houston	1993	88,760	95.2%	15	1	59,334		Kroger	Blockbuster	11.49
										(7/31/2013)

**	Grogan's Mill	The Woodlands	1986	118,517	96.4%	24	2	56,558		Randall's* (99¢ Store)	Petco, Blockbuster	12.18
										(6/24/2016)

**	Hedwig	Houston	1974	69,504	74.3%	12	2				Ross Dress for Less	15.05


**	Highland Square	Sugarland	1998	64,171	97.6%	26	2					17.14


**	Kirkwood Bissonnet	Houston	1999	15,542	73.6%	7	1		63,000	Kroger	Blockbuster	16.53


**	Market at First Colony	Sugarland	1988	107,301	98.1%	34	1		62,000	Kroger	TJ Maxx, CVS Pharmacy	16.46


**	Mason Park	Katy	1998	160,047	89.5%	34	5		58,890	Kroger	Walgreens* (Eloise Collectibles), Palais	10.03
											Royal, Petco, Alamo Cimema

**	Mission Bend	Houston	1980 / 1999	131,575	85.7%	23	4	46,112		Randall's	Remarkable Furniture	8.78
										(6/24/2016)

**	Spring Shadows	Houston	1999	106,995	94.9%	16	2	65,161		H.E.B.		9.76
										(4/30/2023)

**	Steeplechase	Jersey Village	1985	105,152	87.8%	18	7	56,208		Randall's		10.86
										(6/24/2016)

**	Sutherland Lumber	Marble Falls	1985	53,571	100.0%	1	0				Sutherland Lumber	2.82


**	Westgate	Houston	1996 / 1998	298,354	100.0%	25	0	75,154		H.E.B.	Kohl's, Oshman's Sporting Goods, Office	11.76
										(12/31/2015)	Max, Pier One Imports

Dallas (12)

**	Creekside	Arlington	1997 / 1998	103,464	100.0%	18	0	60,932		Kroger	Hollywood Video	12.35
										(11/30/2021)

**	DeSoto Shopping Center	DeSoto	1996	69,090	100.0%	5	0	58,960		Tom Thumb	Blockbuster	9.53
										(11/15/2021)

**	Green Oaks	Arlington	1983	65,091	62.5%	21	13		58,000	Kroger		11.54


**	Melbourne Plaza	Hurst	1983	47,517	95.8%	17	1					11.66


**	Minyards	Garland	2000	65,295	100.0%	2	0	58,695		Minyards/Sack N Save		6.12
										(4/30/2020)

**	Parkwood	Plano	1985	81,590	82.6%	16	4		62,000	Albertsons	Planet Pizza	13.26


**	Richwood	Richardson	1984	54,871	90.4%	23	4		61,877	Albertsons	Blockbuster	12.67


	Rosemeade	Carrollton	1986	51,231	28.3%	6	12				Blockbuster	13.67


**	Southlake Village	Southlake	1996	118,092	88.9%	19	3	60,932		Kroger		12.95
										(10/31/2021)

**	Sterling Plaza	Irving	1989	65,765	93.1%	14	2				Bank One, Irving City Library, 99 Cent	14.38
											Only Store

**	Townsend Square	Desoto	1990	146,953	86.2%	29	6		60,349	Albertsons	Bealls, Victory Gym, Dollar General,	9.03
											Desoto Children's Academy

**	Village by the Park	Arlngton	1988	44,523	100.0%	10	0				Petco, Movie Trading	17.44

Year

Total

number

Supermarket anchor

Average

built /

square footage

Percent

of tenants

owned

shadow

name

base rent

Property

City

renovated

owned

leased

vacant

expiration date

Other anchor tenants

per leased SF

San Antonio (3)

Bandera Festival

San Antonio

1989

195,438

86.3%

Beall's, Big Lots, Burke's Outlet, Dollar

$ 7.88

Tree, FWL Furniture

Blanco Village

San Antonio

2000

108,325

100.0%

74,627

H.E.B.

16.10

(4/30/2015)

Wurzbach

San Antonio

1979

59,771

100.0%

52,957

Albertsons*

3.04

(1/31/2010)

TOTAL SHOPPING CENTERS TEXAS (32)

2,972,978

91.6%

542

807,295

426,116

$ 11.40

VIRGINA (1)

Smyth Valley Crossing

Marion

1989

126,841

98.9%

32,000

Ingles

Wal-Mart

5.88

(9/25/2010)

TOTAL SHOPPING CENTERS VIRGINIA (1)

126,841

98.9%

32,000

$ 5.88

TOTAL CORE SHOPPING CENTER PORTFOLIO (181)

19,313,520

93.4%

3,268

373

5,823,102

479,966

$ 10.51

DEVELOPMENTS & REDEVELOPMENTS (6)

River Green

Canton, GA

2008 Development

11.2 acres

Shops at St. Lucie

Port St. Lucie, FL

2006 Development

4.0 acres

Sunlake Development Parcel

Tampa, FL

TBD

155.0 acres

Westridge

McDonough, GA

2006 Development

13.5 acres

Winchester Plaza

Huntsville, AL

2006 Development

33.0 acres

Waterlick Plaza

Lynchburg, VA

TBD

8.0 acres

TOTAL DEVELOPMENTS & REDEVELOPMENTS (6)

TOTAL RETAIL PROPERTIES (187)

19,313,520

93.4%

3,268

373

5,823,102

479,966

$ 10.51

OTHER PROPERTIES (5)

4101 South I-85 Industrial

Charlotte, NC

1956, 1963

188,513

81.7%

2.72

Pinhook Office Building

Lafayette, LA

1979, 1992

4,406

49.5%

9.00

Banco Popular Office Building

Miami, FL

1971

32,737

98.1%

22.61

Laurel Walk Apartments

Charlotte, NC

1985

106,480

98.0%

7.48

Mandarin Mini-storage

Jacksonville, FL

1982

52,880

97.2%

524

GRAND TOTAL (192)

19,698,536

93.3%

3,912

398

5,823,102

479,966

$ 10.42

EQUITY ONE, INC. AND SUBSIDIARIES
LEASING ACTIVITY
For the three months ended December 31, 2005


Renewals
# of Leases	Square Feet	Average Size		Average Expiring Rent psf	Average New Rent psf	Annualized Minimum Rent

79	170,528	2,159		$14.42	$ 14.96	$2,550,258

			% Increase psf		3.7%

			Net Increase (AMR)			$90,495


New Leases
# of Leases	Square Feet	Average Size			Average New Rent psf	Annualized Minimum Rent

83	196,274	2,365			$13.27	$2,603,931



Lost Leases
# of Leases	Square Feet	Average Size		Average Expiring Rent psf		Annualized Minimum Rent

80	233,867	2,923		$13.03		$3,048,083



Net Absorption	(37,593)	New Leases - Lost Leases

Leasing Spread	1.8%	New Leases versus Lost Leases (rate psf)


					Net AMR Gain	($353,657)

Page 33

EQUITY ONE, INC. AND SUBSIDIARIES
LEASING ACTIVITY
For the twelve months ended December 31, 2005


Renewals
# of Leases	Square Feet	Average Size		Average Expiring Rent psf	Average New Rent psf	Annualized Minimum Rent

344	735,729	2,139		$14.55	$15.16	$11,151,526

			% Increase psf		4.2%

			Net Increase (AMR)			$443,228


New Leases
# of Leases	Square Feet	Average Size			Average New Rent psf	Annualized Minimum Rent

345	1,426,156	4,134			$10.18	$14,513,592



Lost Leases
# of Leases	Square Feet	Average Size		Average Expiring Rent psf		Annualized Minimum Rent

335	1,599,849	4,776		$8.90		$14,246,468



Net Absorption	(173,693)	New Leases - Lost Leases

Leasing Spread	14.4%	New Leases versus Lost Leases (rate psf)


					Net AMR Gain	$710,352

Page 34

EQUITY ONE, INC. AND SUBSIDIARIES

OCCUPANCY STATISTICS

As of December 31, 2005

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

Note: Reflects 160 properties owned by Equity One in each of the previous eight quarters.

Page 35

Note: Reflects 160 properties owned by Equity One in each of the previous eight quarters.

Page 36

EQUITY ONE, INC. AND SUBSIDIARIES

TENANT CONCENTRATION SCHEDULE

As of December 31, 2005


Tenant		Number of stores	Square feet	% of total square feet	Annualized minimum rent	% of total annualized minimum rent	Average annual minimum rent per square foot

Top ten tenants
	Publix	49	2,166,120	11.2%	$ 15,952,949	8.4%	$ 7.36
	Albertsons/Shaw's	9	572,286	3.0%	8,094,619	4.3%	14.14
	Kroger	16	935,367	4.8%	7,784,396	4.1%	8.32
	Winn Dixie	14	653,987	3.4%	4,462,868	2.4%	6.82
	Blockbuster	30	174,892	0.9%	2,777,670	1.5%	15.88
	H.E. Butt Grocery	4	256,262	1.3%	2,775,355	1.5%	10.83
	Bed Bath & Beyond	7	227,689	1.2%	2,192,531	1.2%	9.63
	CVS Pharmacy	19	193,889	1.0%	2,139,358	1.1%	11.03
	Safeway/Randalls	5	258,183	1.3%	1,927,503	1.0%	7.47
	TJ Maxx / Marshall's	8	239,117	1.2%	1,849,006	1.0%	7.73

Sub-total top ten tenants		161	5,677,792	29.4%	$ 49,956,255	26.3%	$ 8.80

	Remaining tenants	3,107	12,358,039	64.0%	139,634,248	73.7%	11.30

Sub-total all tenants		3,268	18,035,831	93.4%	$ 189,590,503	100.0%	$ 10.51

	Vacant	373	1,277,689	6.6%	NA	NA	NA

Total including vacant		3,641	19,313,520	100.0%	$ 189,590,503	100.0%	$ 9.82

EQUITY ONE, INC. AND SUBSIDIARIES

SHOPPING CENTER LEASE EXPIRATION SCHEDULE

As of December 31, 2005

ALL TENANTS

	Date	Number of tenants	Square feet	Percent of total square feet	Annualized minimum rent at expiration	Percent of total annualized minimum rent	Average annual minimum rent per square foot

	M-T-M	112	245,971	1.3%	$ 2,590,595	1.3%	10.53
	2006	698	1,980,985	10.3%	24,853,791	12.7%	12.55
	2007	657	2,081,151	10.8%	25,760,948	13.2%	12.38
	2008	646	1,912,765	9.9%	25,782,481	13.2%	13.48
	2009	387	1,772,263	9.2%	19,597,005	10.0%	11.06
	2010	375	1,765,824	9.1%	19,706,446	10.1%	11.16
	2011	73	1,023,238	5.3%	8,644,952	4.4%	8.45
	2012	50	939,427	4.9%	7,878,101	4.0%	8.39
	2013	34	664,694	3.4%	6,172,592	3.2%	9.29
	2014	33	760,424	3.9%	6,176,827	3.2%	8.12
	2015	37	707,445	3.7%	7,355,265	3.8%	10.40
	Thereafter	166	4,181,644	21.6%	41,248,461	20.9%	9.86

	Sub-total / average	3,268	18,035,831	93.4%	$ 195,767,464	100.0%	$ 10.85

	Vacant	373	1,277,689	6.6%	NA	NA	NA

	Total / average	3,641	19,313,520	100.0%	$ 195,767,464	100.0%	$ 10.14

Note: Excludes six development parcels and five other properties.

EQUITY ONE, INC. AND SUBSIDIARIES

SHOPPING CENTER LEASE EXPIRATION SCHEDULE

As of December 31, 2005

ANCHOR TENANTS (SF >= 10,000)

Date	Number of tenants	Square feet	Percent of total square feet	Annualized minimum rent at expiration	Percent of total annualized minimum rent	Average annual minimum rent per square foot

M-T-M	3	34,594	0.3%	$ 275,811	0.3%	$ 7.97
2006	25	605,871	5.0%	3,708,880	4.1%	6.12
2007	30	784,805	6.5%	5,381,143	5.9%	6.86
2008	24	580,928	4.8%	4,001,317	4.4%	6.89
2009	37	976,148	8.1%	6,358,662	7.0%	6.51
2010	45	972,630	8.1%	6,001,354	6.6%	6.17
2011	24	916,211	7.6%	5,930,424	6.6%	6.47
2012	22	829,581	6.9%	5,570,295	6.2%	6.71
2013	15	589,538	4.9%	4,590,453	5.1%	7.79
2014	15	684,976	5.7%	4,689,522	5.2%	6.85
2015	17	631,569	5.3%	5,881,851	6.5%	9.31
Thereafter	80	3,864,880	32.3%	38,118,939	42.1%	9.86

Sub-total / average	337	11,471,731	95.5%	$ 90,508,651	100.0%	$ 7.89

Vacant	19	545,548	4.5%	NA	NA	NA

Total / average	356	12,017,279	100.0%	$ 90,508,651	100.0%	$ 7.53

Note: Excludes six development parcels and five other properties.

EQUITY ONE, INC. AND SUBSIDIARIES

SHOPPING CENTER LEASE EXPIRATION SCHEDULE

As of December 31, 2005

LOCAL TENANTS (SF < 10,000)

Date	Number of tenants	Square feet	Percent of total square feet	Annualized minimum rent at expiration	Percent of total annualized minimum rent	Average annual minimum rent per square foot

M-T-M	109	211,377	2.9%	$ 2,314,784	2.2%	$ 10.95
2006	673	1,375,114	18.8%	21,144,911	20.1%	15.38
2007	627	1,296,346	17.8%	20,379,805	19.4%	15.72
2008	622	1,331,837	18.3%	21,781,164	20.7%	16.35
2009	350	796,115	10.9%	13,238,343	12.6%	16.63
2010	330	793,194	10.8%	13,705,092	13.0%	17.28
2011	49	107,027	1.5%	2,714,528	2.6%	25.36
2012	28	109,846	1.5%	2,307,806	2.2%	21.01
2013	19	75,156	1.0%	1,582,139	1.5%	21.05
2014	18	75,448	1.0%	1,487,305	1.4%	19.71
2015	20	75,876	0.9%	1,473,414	1.4%	19.42
Thereafter	86	316,764	4.3%	3,129,522	2.9%	9.88

Sub-total / average	2,931	6,564,100	90.0%	$ 105,258,813	100.0%	$ 16.04

Vacant	354	732,141	10.0%	NA	NA	NA

Total / average	3,285	7,296,241	100.0%	$ 105,258,813	100.0%	$ 14.43

Page 40

EQUITY ONE, INC. AND SUBSIDIARIES

REAL ESTATE DEVELOPMENTS AND REDEVELOPMENTS

As of December 31, 2005

(in thousands, except square footage data)

	Project	Location	Project Description	Target Completion Date		Estimated Cost Including Land		Funded as of 12/31/2005		Balance to Complete

Developments
	River Green	Canton, GA	11.2 acres held for future developemnt. Prospecting for tenant(s)	TBD	$	3,621	$	3,621	$	-
	Shops at St. Lucie	Port St. Lucie, FL	Develop a 20,000 sf retail center, adjacent to our Cashmere Corners property	First quarter 2006		4,945		3,070		1,875
	Shops at Skylake	N. Miami Beach, FL	Adding 37,000 sq ft of retail space to existing property	First quarter 2006		6,320		4,852		1,468
	Sunlake	Tampa, FL	155 acre mixed-use development project	TBD		23,603		13,797		9,806
	Westridge	McDonough, GA	Developing a supermarket anchored center	Second Quarter 2006		8,627		6,931		1,696
	Winchester Plaza	Huntsville, AL	Developing a supermarket anchored center	Third Quarter 2006		11,514		3,730		7,784
Subtotal - Developments						58,630		36,001		22,629

Major Redevelopments
	Stanley Market Place	Stanley, NC	Reconfigure the former Walgreen space and develop an additional 7,000 sq ft of retail space; Approx. 35,000 sq ft has been leased and prospecting for new tenants for the remainder of the space	TBD		5,483		924		4,559
	Spalding Village	Griffin, GA	Reconfigure the former K Mart space into multi-tenant space; Approx. 20,000 sq ft has been leased and prospecting for new tenants for the remainder of the space	TBD		2,421		2,421		-
	Wesley Chapel	Decatur, GA	Reconfigure the former WalMart space into multi-tenant space; prospecting for new tenants	TBD		4,789		4,789		-

Subtotal - Major Redevelopments						12,693		8,134		4,559

Out parcel Developments/Expansions
	Belfair Towne Village	Bluffton, SC	Adding 41,250 sq ft of retail space to existing property	Fourth quarter 2006		4,665		1,574		3,091
	Bluebonnet	Baton Rouge, LA	Adding 10,750 sq ft of retail on an out parcel at an existing property	Second quarter 2006		1,500		1,015		485
	Mariners Crossing	Spring Hill, FL	The development of a 6,000 sq ft building on an out parcel leased to Goodyear	First quarter 2006		1,219		1,072		147
	Riverview	Durham, NC	Construction of additional 5,000 sq ft out parcel building has commenced	Second quarter 2006		770		207		563
	West Roxbury	West Roxbury, MA	Construction of additional 8,000 sq ft out parcel building has commenced	First quarter 2006		1,850		1,808		42
	Westport	Davie, FL	Prospecting for one or more tenants for out parcels	TBD		606		606		-
	Windy Hill	North Myrtle Beach, SC	Construction of additional 4,000 sq ft out parcel building: prospecting for new tenants	Second quarter 2006		677		675		2
	Young Circle	Hollywood, FL	Future mixed-use development	TBD		9,916		9,916		-
Subtotal - Out parcel Developments/Expansions						21,203		16,873		4,330
	All other development activity					3,194		3,194		-
Total Development Activity - Continuing Operations						95,720		64,202		31,518
	Development activity for properties held for sale					11,432		8,546		2,886

Total - All Development Activity					$	107,152	$	72,748	$	34,404

Page 41

EQUITY ONE, INC. AND SUBSIDIARIES

REAL ESTATE ACQUISITIONS AND DISPOSITIONS

As of December 31, 2005

(in thousands, except square footage data)



2005 Acquisition Activity

Date Purchased	Property Name	City	State	Square Feet/ Acres		Purchase Price

Feb. 1, 2005	Sunlake Development Parcel	Tampa	FL	155 acres	$	12,600
Feb. 28, 2005	Winchester Plaza	Huntsville	AL	33 acres		2,326
May 19, 2005	Young Circle	Hollywood	FL	65,834		22,000
Aug. 25, 2005	Hairston Center	Decatur	GA	13,000		2,175
Sep. 27, 2005	Banco Popular Building	N. Miami Beach	FL	32,737		5,200
Sep. 27, 2005	River Green Land	Canton	GA	11.2 acres		3,550
Oct. 31, 2005	Laurel Walk Apartments	Charlotte	NC	106,480		6,200

Total					$	54,051


2005 Disposition Activity

Date Sold	Property Name	City	State	Square Feet/ Acres		Gross Sales Price		Gain on Sale

Jan. 31, 2005	North River Village	North Ellenton	FL	177,128		$ 14,880		$ 1,615
April 6, 2005	Big Curve	Yuma	AZ	126,402		13,640		3,757
July 29, 2005	Waterlick Plaza	Lynchburg	VA	98,694		8,900		2,253
Aug. 3, 2005	Park Northern	Phoenix	AZ	126,852		8,300		3,835

Total					$	45,720	$	11,460

Properties Held for Sale as of December 31, 2005

	Property Name	City	State

	31 property portfolio	Various	Texas
	Pinhook Office Building	Lafayette	LA

Page 42

EQUITY ONE, INC. AND SUBSIDIARIES

ANALYST COVERAGE

As of December 31, 2005



BB&T Capital Markets	Bear Stearns & Co. Inc.	Deutsche Bank Securities Inc.
Stephanie M. Krewson	Ross Smotrich	Louis W. Taylor
804-782-8784	212-272-8046	212-250-4912

Rob Whittemore	Amy L. Young, CFA	Christopher A. Capalongo
804-782-8796	212-272-3523	212-250-7726



Friedman Billings Ramsey	Harris Nesbit	JP Morgan Securities Inc.
Paul Morgan	Paul Adornato	Michael W. Meuller, CFA
703-469-1255	212-885-4170	212-622-6689

Michael Blank	Joshua Bederman
703-469-1115	212-622-6530



McDonald Investments Inc.	Raymond James & Associates	Stifel, Nicolaus & Company, Inc.
Richard C. Moore II, CFA	Paul D. Puryear	David M. Fick, CPA
216-443-2815	727-567-2253	410-454-5018

Ken Avalos	Nathen Isbee
727-567-2660	410-454-4143

	Secured Debt				Unsecured Debt
Maturity schedule	Scheduled		Balloon		Revolving		Senior				Percent of
by year	amortization		payments (7)(8)		Credit Facilities (7)		Notes (9)		Total		debt maturing

2006	$	10,206	$	28,927	$	165	$	50,000	$	89,298		8.8%
2007		10,464		2,864		-		75,000		88,328		8.7%
2008		10,532		40,104		-		-		50,636		5.0%
2009		10,189		24,332		93,000		200,000		327,521		32.4%
2010		9,203		98,471		-		-		107,674		10.7%
2011		7,376		93,433		-		-		100,809		10.0%
2012		6,110		40,056		-		25,000		71,166		7.0%
2013		5,696		-		-		-		5,696		0.6%
2014		5,666		-		-		-		5,666		0.6%
2015		4,192		30		-		120,000		124,222		12.3%
Thereafter		29,089		9,985		-		-		39,074		3.9%
Total	$	108,723	$	338,202	$	93,165	$	470,000	$	1,010,090		100.0%