8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_______________________

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

The Securities Exchange Act of 1934

Date of report (Date of earliest event reported) August 1, 2006

Equity One, Inc.

(Exact Name of Registrant as Specified in Its Charter)

Maryland

(State or Other Jurisdiction of Incorporation)

001-13499	52-1794271
(Commission File Number)	(IRS Employer Identification No.

1600 NE Miami Gardens Drive

North Miami Beach, Florida 33179

(Address of Principal Executive Offices) (Zip Code)

(305) 947-1664

(Registrant’s Telephone Number, Including Area Code)

N/A

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Section 2 - Financial Information 

Item 2.02 Results of Operations and Financial Condition.

On August 1, 2006, Equity One, Inc. (the “Company”) announced its financial results for the three month period ended June 30`, 2006. A copy of the Company’s earnings press release is furnished as Exhibit 99.1 to this report on Form 8-K. A copy of the Company’s Supplemental Information Package is furnished as Exhibit 99.2 to this report on Form 8-K. The information contained in this report on Form 8-K, including Exhibits 99.1 and 99.2, shall not be deemed “filed” with the Securities and Exchange Commission nor incorporated by reference in any registration statement filed by the Company under the Securities Act of 1933, as amended.

Item 7.01 Regulation FD Disclosure.

On August 1, 2006, the Company announced its financial results for the three month period ended June 30, 2006. A copy of the Company’s earnings press release is furnished as Exhibit 99.1 to this report on Form 8-K. A copy of the Company’s Supplemental Information Package is furnished as Exhibit 99.2 to report on Form 8-K. The information contained in this report on Form 8-K, including Exhibits 99.1 and 99.2 shall not be deemed “filed” with the Securities and Exchange Commission nor incorporated by reference in any registration statement filed by the Company under the Securities Act of 1933, as amended.

Item 9.01(c) Exhibits

(a) Financial Statements of Business Acquired.

Not applicable

(b) Pro Forma Financial Information.

Not applicable

(c) Exhibits

99.1— Earnings Press Release of Equity One, Inc. dated August 1, 2006.

99.2 — Supplemental Information Package of Equity One, Inc. June 30, 2006.

3

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

August 1, 2006	EQUITY ONE, INC.
	By:	/s/  Howard Sipzner
	Chief Financial Officer

4

EXHIBIT INDEX

Exhibit No.	Document
99.1	Earnings Press Release of Equity One, Inc. dated August 1, 2006
99.2	Information Package of Equity One, Inc. June 30, 2006

5

EX-99.1

Exhibit 99.1

Equity One, Inc. 1600 NE Miami Gardens Drive North Miami Beach, FL 33179   Company Contacts (305-947-1664): Howard Sipzner, EVP and CFO Feryal Akin, Communications

FOR IMMEDIATE RELEASE:

Equity One Reports Strong Second Quarter 2006 FFO per Share and

Announces Expansion of Its Share Repurchase Program to $100 Million from $50 Million

North Miami Beach, FL; August 1, 2006 - Equity One, Inc. (NYSE:EQY), an owner, developer and operator of community and neighborhood shopping centers located in high growth markets in the southern and northeastern United States, announced today its financial results for the three- and six-month periods ended June 30, 2006. The second quarter 2006 results reflect the Company’s sale in April 2006 of 29 Texas properties to a joint venture in which the Company retained a 20% interest. The highlights are as follows:

Second Quarter 2006 Financial Highlights

· Net income totaled $111.3 million, compared to $25.1 million for 2005. Net income for the second quarter of 2006 included $92.7 million of gains on the sale of income producing real estate, while the second quarter of 2005 included $3.8 million of gains on the sale of income producing real estate;

· Net income per diluted share was $1.49 versus $0.34 in 2005;

· Funds from Operations (“FFO”) totaled $30.8 million versus $32.4 million in 2005;

· FFO per diluted share was $0.41 versus $0.43 in 2005;

· Interest expense coverage ratio equaled 3.2 times for the second quarter of 2006; and

· Net debt to total market capitalization measured 36.9% as of June 30, 2006.

Second Quarter 2006 Operating Highlights

· Produced a 3.1% increase in same property net operating income (“NOI”) and an overall NOI margin of 71.4%;

· Increased the average rental rate by 5.2% to $12.95 per square foot on 78 lease renewals aggregating 289,460 square feet;

· Executed 86 new leases totaling 265,397 square feet at an average rental rate of $13.45 per square foot, representing a 32.3% spread versus the average rate on lost leases;

· Completed and leased $14.1 million of development projects with an incremental NOI yield on cost of approximately 9.8%; and

· Achieved an occupancy rate of 95.0% in the core shopping center portfolio at June 30, 2006.

Second Quarter 2006 Investment and Financing Activities

· Completed the sale of 29 Texas shopping centers and associated land parcels to EQYInvest Texas, LLC (the “JV”) on April 25, 2006 for aggregate consideration of $387.2 million and recorded total gains on the sale of $92.1 million. In connection with the sale, we realized net proceeds of approximately $308.7 million and received a 20% interest in the JV. In addition, we will manage and lease the properties on behalf of the JV;

· Acquired three retail centers and a parcel of land held for future development for aggregate consideration of $31.0 million;

· Repaid $50.0 million of senior unsecured notes at maturity and pre-paid or defeased a total of $68.7 million of mortgage notes. $54.4 million of the mortgage prepayments and defeasances were completed in connection with the JV transaction and resulted in an aggregate charge to earnings and FFO of $2.0 million in the second quarter of 2006;

1

· Purchased 2.3 million shares of our common stock for total consideration of $50.0 million; and

· Paid a $1.00 per share special dividend and a $0.30 per share regular dividend on June 30, 2006.

“The second quarter of 2006 could very well be a turning point for Equity One,” stated Chaim Katzman, Chairman and Chief Executive Officer of Equity One, “during which we made progress on a series of initiatives to enhance future earnings growth. The combination of our successful sale of 29 Texas properties to a joint venture in which we will retain a 20% interest, a more productive leasing effort across our retail platform, a focus on value-added acquisitions and the expansion of our development and redevelopment pipeline has strengthened our operational results. I am particularly impressed with our leasing efforts which increased our renewal rents by 5.2%, achieved a gain of 32.3% on new leases rates, added $1.5 million of annualized minimum rent, increased our core occupancy to 95% and produced a 3.1% gain in same store net operating income. Our strong financial condition facilitates these activities and led our Board of Directors to declare and pay a $1.00 special dividend and expand our share repurchase program to $100 million. We believe that our focus on the ownership of neighborhood shopping centers anchored by leading supermarkets, drug stores and discount retailers in the southern and northeastern United States will continue to deliver superior results for our stockholders, debt providers and other constituencies.”

FINANCIAL OVERVIEW

For the three months ended June 30, 2006, FFO was $30.8 million versus $32.4 million for the comparable period in 2005. FFO per diluted share totaled $0.41 in the second quarter of 2006 versus $0.43 in the second quarter of 2005. Net income in the second quarter of 2006 was $111.3 million versus $25.1 million in the second quarter of 2005. Net income per diluted share was $1.49 for the second quarter of 2006 versus $0.34 for 2005. Total revenue in the second quarter of 2006 was $60.3 million versus $63.9 million in the second quarter of 2005.

The second quarter of 2006 included $92.7 million in gains on the sale of income producing real estate, while the second quarter of 2005 included $3.8 million of gains on the sale of income producing real estate. The second quarter of 2006 also included a $2.0 million expense related to the early extinguishment of debt and a $0.6 million expense related to the termination of existing leases, while the corresponding period in 2005 did not have these expenses.

For the six months ended June 30, 2006, FFO was $64.7 million versus $63.0 million for the comparable period in 2005. FFO per diluted share totaled $0.86 for the six months ended June 30, 2006 versus $0.85 for the comparable period in 2005. Net income for the six months ended June 30, 2006 was $133.7 million versus $46.9 million for the comparable period in 2005. Net income per diluted share was $1.77 for the second quarter of 2006 versus $0.63 for the comparable period in 2005. Total revenue in the six months ended June 30, 2006 was $126.7 million versus $125.0 million for the comparable period of 2005.

The six months ended June 30, 2006 included $93.2 million in gains on the sale of income producing real estate, while the comparable period in 2005 included $5.4 million of gains on the sale of income producing real estate. The six months ended June 30, 2006 also included a $2.3 million expense related to the early extinguishment of debt and a $1.0 million expense related to the termination of existing leases, while the corresponding period in 2005 did not have these expenses.

At June 30, 2006, our fully diluted total market capitalization equaled $2.4 billion, comprising 73.9 million shares of common stock and $904.8 million of net debt (excluding any unamortized fair market premium/discount and net of cash). Our ratio of net debt to total market capitalization was 36.9% and our ratio of net debt to gross real estate securities investments was 46.1%.

2

PORTFOLIO OVERVIEW

As of June 30, 2006, the Company owned a total of 198 properties (including 29 in an unconsolidated joint venture) encompassing 128 supermarket-anchored shopping centers, four drug store-anchored shopping centers, 54 other retail-anchored shopping centers, five development parcels and seven non-retail properties. As of June 30, 2006, our core shopping center portfolio was 95.0% occupied, and featured an average base rent of $10.03 per leased square foot.

During the second quarter of 2006, we renewed 78 leases aggregating 289,460 square feet and increased the average rental rate 5.2% to $12.95 per square foot. We also signed 86 new leases aggregating 265,397 square feet at an average rental rate of $13.45 per square foot, a gain of 32.3% versus the $10.17 average rental rate for lost leases. As a result of these activities, we achieved net absorption of 40,819 square feet and added approximately $1.5 million of annualized minimum rent in the second quarter of 2006.

Excluding lease termination revenues, our same property net operating income increased 3.1% for the quarter ended June 30, 2006 compared to the quarter ended June 30, 2005, comprising 138 properties for which the occupancy rate was 95.0% compared to 94.5%, respectively. For the six months ended June 30, 2006, our same property net operating income increased 3.1% compared to the six months ended June 30, 2005, comprising the same 138 properties.

ACQUISITIONS AND DISPOSITIONS

During the three months ended June 30, 2006, we acquired three retail centers and a parcel of land held for future development. To date in 2006, we have acquired the following properties:

Shopping Center	Location	Square Feet/ Acres		Purchase Price (in thousands)
Dolphin Village	St. Pete Beach, FL		138,129	$	28,000
Brookside Plaza	Enfield, CT		210,787		28,500
Commonwealth II	Jacksonville, FL		53,598		600
Piedmont Peachtree Crossing	Buckhead, GA		152,239		47,950
Prosperity Office Building	Palm Beach Gardens, FL		3,200		1,400
Alafaya Village	Orlando, FL		39,477		6,638
Sunpoint Shopping Center	Ruskin, FL		132,374		7,500
Chapel Trail Plaza	Pembroke Pines, FL		56,378		8,900
Deep Creek Land	Fairburn, GA		101 acres		8,000
Total acquisitions				$	137,488

During the three months ended June 30, 2006, we completed the sale of 29 Texas properties, as well as two other centers located in Texas. Also, a joint venture entity in which we have a 50% interest sold its land parcel. To date in 2006, we have disposed of the following income producing properties:

Shopping Center	Location	Square Feet/ Acres		Gross Sales Price (in thousands)		Gain on Sale (in thousands)
Scottsville Square	Bowling Green, KY		38,450	$	2,500	$	478
Sutherland Lumber	Marble Falls, TX		53,571		2,000		3
29 Texas properties	Texas		2,805,322		371,659		87,081
Hedwig	Houston, TX		69,504		13,350		5,634
Total sales of income producing properties				$	389,509	$	93,196

3

In addition, to date in 2006, we have disposed of the following non-depreciable properties:

Shopping Center	Location	Square Feet/ Acres		Gross Sales Price (in thousands)		Gain on Sale (in thousands)
2 Westridge parcels	McDonough, GA		2.0 acres	$	1,458	$	519
6 Texas land parcels	Texas				15,513		5,082
Parcel F land parcel *	Palm Beach Gardens, FL		3.2 acres		3,850		1,650
Total sales of non-depreciable properties				$	20,821	$	7,251
Total sales of all properties				$	410,330	$	100,447

*The $1.65 million gain has been recorded as “Equity in income from unconsolidated joint ventures” in the income statement.

DEVELOPMENTS AND REDEVELOPMENTS

As of June 30, 2006, we had various development and redevelopment projects underway or in the planning stage totaling approximately $153.0 million of asset value, which based on current plans and estimates, are expected to require $24.2 million of additional capital to complete beyond the $128.8 million already invested. These include:

· The near-term completion of two supermarket-anchored shopping centers, in McDonough, Georgia, and Huntsville, Alabama;

· Belfair Towne Village in Bluffton, South Carolina, where we are adding 41,250 square feet of retail space to the existing center;

· St. Lucie West Plaza, adjacent to our Cashmere Corners property in Port St. Lucie, Florida, where we are building 20,000 square feet of retail shops;

· Windy Hill in North Myrtle Beach, South Carolina, where we are adding 4,000 square feet of retail space to the existing center;

· West Roxbury in West Roxbury, Massachusetts, where we are adding 8,000 square feet of retail space to the existing center; and

· Bluebonnet Village in Baton Rouge, Louisiana, where we are adding 10,750 square feet of retail space to the existing center.

These developments and redevelopments are scheduled for completion beginning in the third quarter of 2006. During the six months ended June 30, 2006, we completed and leased a total of $18.1 million of development and redevelopment projects resulting in incremental net operating income of approximately $1.8 million on an annualized basis.

INVESTMENT IN DIM VASTGOED, N.V.

As of June 30, 2006, we directly and indirectly owned approximately 3.7 million ordinary shares of DIM Vastgoed N.V., representing 48.1% of its total outstanding ordinary shares. DIM Vastgoed N.V. is a public company organized under the laws of the Netherlands the shares of which are listed on Euronext Amsterdam and which operates as a closed-end investment company owning and operating a portfolio of 19 shopping centers aggregating 2.7 million square feet in the southeastern United States.

4

FFO AND EARNINGS GUIDANCE

Based on current plans and assumptions and subject to the risks and uncertainties more fully described in Equity One’s reports filed with the Securities and Exchange Commission, we are maintaining our previously announced guidance for calendar year 2006 FFO per diluted share to be between $1.65 and $1.72, and expect our third quarter 2006 FFO per diluted share to be between $0.40 and $0.43. This guidance is provided for informational purposes and is subject to change. The following is a reconciliation of the calculation of FFO per diluted share and earnings per diluted share:

Guidance for 2006	Range or Value
Earnings per diluted share	$	2.27		to	$	2.33
Less: gains on sale of real estate		(1.23	)			(1.23	)
Plus: real estate depreciation		0.61		to		0.62
FFO per diluted share	$	1.65		to	$	1.72

Guidance for third quarter 2006	Range or Value
Earnings per diluted share	$	0.25	to	$	0.28
Plus: real estate depreciation		0.15		$	0.15
FFO per diluted share	$	0.40	to	$	0.43

For guidance purposes, we have not included gains from the sale of real estate not otherwise disclosed, the impact on operating income from future sales of properties or losses from impairment write-downs of our assets or securities.

EXPANSION OF SHARE REPURCHASE PROGRAM

The Board of Directors of Equity One has increased the authorization of our previously announced common stock repurchase program from $50 million to $100 million, of which a total of approximately $50 million has already been used to purchase 2.25 million shares at an average price of $22.19 per share. These purchases were completed in the second quarter of 2006 prior to the June 16, 2006 record date for our $1.00 special dividend and $0.30 regular dividend. Future purchases of shares of common stock will be made in the open market or in privately negotiated transactions, at the discretion of the Company's management and as market conditions warrant, during the period commencing August 4, 2006 through December 31, 2006.

ACCOUNTING AND OTHER DISCLOSURES

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. 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 diminishes 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 depreciable property, 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.

5

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. We believe net income is the most directly comparable GAAP measure to FFO.

CONFERENCE CALL/WEB CAST INFORMATION

We will host a conference call on Wednesday, August 2, 2006, at 1:00 p.m. EST to review our performance for the second quarter 2006. Investors may join the call by dialing 800-510-0146 (U.S./Canada) or 617-614-3449 (international) using pass code 55892054. The call will also be web-cast and can be accessed in a listen-only mode at Equity One’s web site at www.equityone.net.

If you are unable to participate during the call, a replay will be available following the call on our web site. You may also access the replay by dialing 888-286-8010 (U.S./Canada) or 617-801-6888 (international) using pass code 11086879. The telephone replay will be available through August 9, 2006.

FOR ADDITIONAL INFORMATION

For a copy of our second quarter supplemental information package, please access the “Financial Reports” section in our web site at www.equityone.net. To be included in our e-mail distributions for press releases and other company notices, please send your e-mail address to Feryal Akin at fakin@equityone.net.

LOOKING AHEAD - THIRD QUARTER CONFERENCE CALL

We anticipate that we will release our third quarter 2006 earnings on Tuesday, October 31, 2006, after the market close and will host our third quarter 2006 conference call on Wednesday November 1, 2006, at 1:00 p.m. EDT. We expect to issue a press release in advance of these events to confirm the dates and times and provide all related information.

FORWARD LOOKING STATEMENTS

Certain matters discussed by Equity One in this press release 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 is 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, 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 successfully to 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.

6

EQUITY ONE, INC.

UNAUDITED SUMMARY FINANCIAL INFORMATION

(In thousands, except per share data)

	For the three months ended June 30,				For the six months ended June 30,
	2006		2005		2006		2005
Total Revenues	$	60,344	$	63,921	$	126,730	$	125,041
Net Income	$	111,347	$	25,143	$	133,712	$	46,933
Earnings per share (basic)	$	1.50	$	0.34	$	1.79	$	0.64
Earnings per share (diluted)	$	1.49	$	0.34	$	1.77	$	0.63
Number of shares used in computing earnings per share
Basic		74,359		73,636		74,753		73,341
Diluted		75,071		74,656		75,488		74,377

Reconciliation of Net Income to Funds from Operations

Funds from Operations is a non-GAAP financial measure. We believe that FFO, as defined by NAREIT, is a widely used and appropriate supplemental measure of operating performance for REITs, and that it provides a relevant basis for comparison among REITs.

The following table reflects the reconciliation of FFO to net income, the most directly comparable GAAP measure, for the periods presented:

	For the three months ended June 30,						For the six months ended June 30,
	2006			2005			2006			2005
Net income	$	111,347		$	25,143		$	133,712		$	46,933
Adjustments
Rental property depreciation and amortization		11,493			10,938			23,532			21,384
Gain on sale of depreciable real estate		(92,704	)		(3,757	)		(93,196	)		(5,372	)
Pro rata share of real estate depreciation from unconsolidated joint venture		508			-			508			-
Minority interest		122			27			150			55
Funds from operations	$	30,766		$	32,351		$	64,706		$	63,000

7

EQUITY ONE, INC.

UNAUDITED SUMMARY FINANCIAL INFORMATION

(In thousands)

Reconciliation of Earnings per Diluted Share to Funds from Operations per Diluted Share

The following table reflects the reconciliation of FFO per diluted share to earnings per diluted share, the most directly comparable GAAP measure, for the periods presented:

	For the three months ended June 30,						For the six months ended June 30,
	2006			2005			2006			2005
Earnings per diluted share *	$	1.49		$	0.34		$	1.77		$	0.63
Adjustments
Rental property depreciation and amortization		0.15			0.14			0.31			0.29
Gain on sale of depreciable real estate		(1.24	)		(0.05	)		(1.23	)		(0.07	)
Pro rata share of real estate depreciation from unconsolidated joint venture		0.01			-			0.01			-
Funds from operations	$	0.41		$	0.43		$	0.86		$	0.85

*Earnings per diluted share reflect the add-back of minority interest(s) which are convertible to shares of our common stock.

Balance Sheet Data	June 30, 2006		December 31, 2005
Investments in real estate
(before accumulated depreciation)	$	1,880,611	$	2,020,475
Total assets	$	1,963,907	$	2,052,033
Mortgage notes payable	$	366,699	$	446,925
Unsecured revolving credit facilities	$	47,000	$	93,165
Unsecured senior notes payable	$	538,999	$	465,404
Total liabilities before minority interests	$	1,020,522	$	1,077,879
Stockholders’ equity	$	942,396	$	972,729
Total liabilities and stockholders’ equity	$	1,963,907	$	2,052,033

8

EX-99.2

EXHIBIT 99.2

Equity One, Inc.

Supplemental Information Package

June 30, 2006

Equity One, Inc.

1600 N.E. Miami Gardens Drive

North Miami Beach, Florida 33179

Tel: (305) 947-1664 Fax: (305) 947-1734

www.equityone.net

Equity One, Inc.

	SUPPLEMENTAL INFORMATION
	June 30, 2006
	(unaudited)
TABLE OF CONTENTS
		Page
DISCLOSURES		3
FINANCIAL HIGHLIGHTS - OPERATING RATIOS		4
FINANCIAL HIGHLIGHTS - DEBT RATIOS - QUARTERLY BREAKOUT		5
EARNINGS BEFORE INTEREST, TAXES, DEPRECIATION and AMORTIZATION (EBITDA)		6
NET OPERATING INCOME		7
MARKET CAPITALIZATION - QUARTERLY BREAKOUT		8
CONSOLIDATED STATEMENTS OF OPERATIONS		9
CONSOLIDATED STATEMENTS OF OPERATIONS - QUARTERLY BREAKOUT		10
PRO FORMA FINANCIAL INFORMATION FOR DISCONTINUED OPERATIONS		11
UNCONSOLIDATED STATEMENTS OF OPERATIONS		13
CONSOLIDATED STATEMENTS OF FUNDS FROM OPERATIONS		14
CONSOLIDATED STATEMENTS OF FUNDS FROM OPERATIONS - QUARTERLY BREAKOUT		15
CONSOLIDATED STATEMENTS OF FUNDS AVAILABLE FOR DISTRIBUTION		16
CONSOLIDATED STATEMENTS OF FUNDS AVAILABLE FOR DISTRIBUTION - QUARTERLY BREAKOUT		17
CONSOLIDATED BALANCE SHEETS		18
UNCONSOLIDATED BALANCE SHEET		19
CONSOLIDATED DEBT SUMMARY		20
UNCONSOLIDATED DEBT SUMMARY		25
PROPERTY STATUS REPORT		26
ANNUAL MINIMUM RENT BY STATE		36
LEASING ACTIVITY AND OCCUPANCY STATISTICS		37
TENANT CONCENTRATION SCHEDULES		40
SHOPPING CENTER LEASE EXPIRATION SCHEDULES		42
REAL ESTATE DEVELOPMENTS AND REDEVELOPMENTS		45
REAL ESTATE ACQUISITIONS AND DISPOSITIONS		46
ANALYST COVERAGE		47

EQUITY ONE, INC. AND SUBSIDIARIES

DISCLOSURES

As of June 30, 2006

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, 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 and Form 10-Q for the period ended June 30, 2006 should be read in conjunction with the above information. The results of operations of any property acquired are included in our financial statements since the date of its acquisition.

Use of EBITDA as a Non-GAAP Financial Measure

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

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

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

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

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

Page 3

EQUITY ONE, INC. AND SUBSIDIARIES

FINANCIAL HIGHLIGHTS - OPERATING RATIOS

As of June 30, 2006

(in thousands, except per share data)

	______________________						______________________						For the
	For the three months ended						For the six months ended						year ended
	Jun 30, 2006			Jun 30, 2005			Jun 30, 2006			Jun 30, 2005			Dec 31, 2005
Selected Operating Items:
Total rental revenue*	$	60,656		$	65,018		$	127,653		$	127,759		$	255,248
Property operating expenses*		17,212			15,965			35,000			31,806			67,394
General & administrative expenses (G&A)*		4,665			4,370			9,281			8,710			17,281
Net income	$	111,347		$	25,143		$	133,712		$	46,933		$	93,056
Net income per diluted share		1.49			0.34			1.77			0.63			1.24
Income from continuing operations	$	105,476		$	20,714		$	126,939		$	40,115		$	79,222
Income from continuing operations per diluted share		1.41			0.28			1.68			0.54			1.06
Funds from operations (FFO)	$	30,766		$	32,351		$	64,706		$	63,000		$	124,836
FFO per diluted share		0.41			0.43			0.86			0.85			1.67
Funds available for distribution before debt payments (FAD)	$	26,947		$	26,855		$	55,309		$	53,745		$	104,251
FAD per diluted share		0.36			0.36			0.73			0.72			1.39
Total dividends paid per share (1)	$	1.30		$	0.29		$	1.60		$	0.58		$	1.17
Operating Ratios:
Net operating income margin (see page 7)*		71.4	%		75.4	%		72.6	%		75.1	%		73.6	%
Expense recovery ratio (expense recoveries/operating expenses)*		80.7	%		86.3	%		83.3	%		84.2	%		81.6	%
Consolidated EBITDA margin (see page 6)*		63.1	%		69.4	%		65.7	%		68.9	%		67.9	%
Consolidated EBITDA to interest coverage ratio*		3.2			3.5			3.3			3.5			3.4
G&A as % of total revenues*		7.0	%		6.6	%		6.7	%		6.7	%		6.6	%
G&A as % of total assets (annualized)		0.95	%		0.87	%		0.95	%		0.86	%		0.84	%
Dividend / FFO payout ratio (1)		73.2	%		67.4	%		69.8	%		68.2	%		70.1	%
FFO multiple (annualized if < 12 months)		12.7			13.2			12.2			13.4			13.8
Dividend / FAD payout ratio (1)		83.3	%		80.6	%		82.2	%		80.6	%		84.2	%
FAD multiple (annualized if < 12 months)		14.5			15.8			14.3			15.8			16.6

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

(1) Dividend amounts include a $1.00 per share special dividend paid on June 30, 2006. Payout ratios exclude the $1.00 per share special dividend.

Page 4

EQUITY ONE, INC. AND SUBSIDIARIES

FINANCIAL HIGHLIGHTS - DEBT RATIOS - QUARTERLY BREAKOUT

As of June 30, 2006

(in thousands, except per share data)

As of

	Jun 30, 2006			Mar 31, 2006			Dec 31, 2005			Sep 30, 2005			Jun 30, 2005			Mar 31, 2005
	___________			___________			___________			___________			___________			___________
Fixed rate debt	$	811,699		$	928,108		$	816,925		$	819,564		$	704,203		$	738,817
Fixed rate debt - swapped to variable rate		93,999			94,052			95,404			95,514			97,310			95,165
Variable rate debt - unhedged		47,000			115,000			93,165			39,000			184,161			144,763
Total debt*	$	952,698		$	1,137,160		$	1,005,494		$	954,078		$	985,674		$	978,745
% Fixed rate debt		85.20	%		81.62	%		81.25	%		85.90	%		71.44	%		75.49	%
% Fixed rate debt - swapped to variable rate		9.87	%		8.27	%		9.49	%		10.01	%		9.87	%		9.72	%
% Variable rate debt - unhedged		4.93	%		10.11	%		9.26	%		4.09	%		18.68	%		14.79	%
Total		100.00	%		100.00	%		100.00	%		100.00	%		100.00	%		100.00	%
% Variable rate debt - total		14.80	%		18.38	%		18.75	%		14.10	%		28.56	%		24.51	%
Secured mortgage debt	$	366,699		$	433,108		$	446,925		$	449,546		$	454,203		$	488,817
Unsecured debt		585,999			704,052			558,569			504,532			531,471			489,928
Total debt*	$	952,698		$	1,137,160		$	1,005,494		$	954,078		$	985,674		$	978,745
% Secured mortgage debt		38.49	%		38.09	%		44.45	%		47.12	%		46.08	%		49.94	%
% Unsecured debt		61.51	%		61.91	%		55.55	%		52.88	%		53.92	%		50.06	%
Total		100.00	%		100.00	%		100.00	%		100.00	%		100.00	%		100.00	%
Total market capitalization (from page 8)	$	2,449,256		$	3,005,198		$	2,757,987		$	2,707,115		$	2,690,123		$	2,515,416
% Secured mortgage debt		14.97	%		14.41	%		16.20	%		16.61	%		16.88	%		19.43	%
% Unsecured debt		23.93	%		23.43	%		20.25	%		18.64	%		19.76	%		19.48	%
Total debt : Total market capitalization		38.90	%		37.84	%		36.45	%		35.24	%		36.64	%		38.91	%
Weighted-average interest rate on secured mortgage debt		7.30	%		7.30	%		7.19	%		7.24	%		7.24	%		7.26	%
Weighted-average interest rate on senior unsecured notes**		5.49	%		5.49	%		5.20	%		5.42	%		5.08	%		5.10	%
Weighted-average interest rate on revolving credit facilities		5.69	%		5.14	%		4.68	%		4.15	%		3.69	%		3.19	%
Weighted-average maturity on mortgage debt		5.4 years			4.8 years			5.2 years			5.6 years			5.8 years			5.6 years
Weighted-average maturity on senior unsecured notes		5.9 years			5.6 years			4.6 years			4.8 years			3.3 years			3.5 years

*excluding unamortized premium/discount

**excluding the effect of interest rate swaps

Page 5

EQUITY ONE, INC. AND SUBSIDIARIES

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

For the quarter ended June 30, 2006

(in thousands, except per share data)

													For the
	For the three months ended						For the six months ended						year ended
	Jun 30, 2006			Jun 30, 2005			Jun 30, 2006			Jun 30, 2005			Dec 31, 2005
	___________			___________			___________			___________			___________
Net income	$	111,347		$	25,143		$	133,712		$	46,933		$	92,741
Rental property depreciation and amortization*		11,493			10,938			23,532			21,384			43,445
Other depreciation and amortization		178			150			342			255			577
Interest expense*		13,177			13,084			27,981			25,281			51,983
Amortization of deferred financing fees*		376			370			731			749			1,512
Minority interest*		122			46			150			96			188
Gain on disposal of income producing property		(92,704	)		(3,757	)		(93,196	)		(5,372	)		(11,460	)
Equity in income of unconsolidated joint ventures		(1,655	)		-			(1,655	)		-			-
Consolidated EBITDA*	$	42,334		$	45,974		$	91,597		$	89,326		$	178,986
Consolidated Interest expense*	$	13,177		$	13,084		$	27,981		$	25,281		$	51,983
Consolidated EBITDA : interest coverage ratio*		3.2			3.5			3.3			3.5			3.4
Revenue
Total rental revenue*	$	60,656		$	65,018		$	127,653		$	127,759		$	255,248
Investment income		1,113			1,215			5,765			1,924			7,941
Sale of non depreciable real estate		5,284			-			5,598			-			-
Other income		39			-			389			-			306
Total revenue*	$	67,092		$	66,233		$	139,405		$	129,683		$	263,495
Consolidated EBITDA margin (EBITDA/total revenue)*		63.1	%		69.4	%		65.7	%		68.9	%		67.9	%
Consolidated EBITDA*	$	42,334		$	45,974		$	91,597		$	89,326		$	178,986
Unconsolidated venture EBITDA (pro-rata share)		2,838			-			2,838			-			-
Total EBITDA	$	45,172		$	45,974		$	94,435		$	89,326		$	178,986
Total market capitalization (see page 8)	$	2,449,256		$	2,690,123		$	2,449,256		$	2,690,123		$	2,757,987
Total market capitalization to Total EBITDA multiple*		13.6			14.6			13.0			15.1			15.4

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

Page 6

EQUITY ONE, INC. AND SUBSIDIARIES

NET OPERATING INCOME

For the quarter ended June 30, 2006

(in thousands, except per share data)

	For the three months ended						Percent			For the six months ended						Percent
	Jun 30, 2006			Jun 30, 2005			Change			Jun 30, 2006			Jun 30, 2005			Change
Consolidated net operating income (1)
Total rental revenue	$	60,215		$	64,890			(7.2	%)	$	127,057		$	127,568			(0.4	%)
Property operating expenses (2)		17,212			15,985			7.8	%		35,000			31,806			10.0	%
Consolidated net operating income	$	43,003		$	48,925			(12.1	%)	$	92,057		$	95,761			(3.9	%)
Consolidated NOI margin (NOI/total rental revenue)		71.4	%		75.4	%					72.5	%		75.1	%
Consolidated net operating income	$	43,003		$	48,925			(12.1	%)	$	92,057		$	95,761			(3.9	%)
Unconsolidated net operating income (pro-rata share)		1,100			-			N/A			1,100			-			N/A
Total net operating income	$	44,103		$	48,925			(9.9	%)	$	93,157		$	95,761			(2.7	%)
Same property NOI (consolidated) (3)
Total rental revenue	$	50,364		$	47,787			5.4	%	$	100,527		$	95,200			5.6	%
Property operating expenses		14,341			12,832			11.8	%		28,327			25,157			12.6	%
Net operating income	$	36,023		$	35,955			3.1	%	$	72,200		$	70,043			3.1	%
Growth in same property NOI		3.1	%								3.1	%
Number of properties included in analysis		138									138
Same property occupancy (consolidated)		95.0	%		94.8	%					95.0	%		94.8	%

(1)Amounts included in discontinued operations have been included for purposes of this presentation of net operating income.

(2)Net of intercompany expenses.

(3)Excludes the effects of straight line rent, and prior year expense recoveries and adjustments, if any.

Page 7

EQUITY ONE, INC. AND SUBSIDIARIES

MARKET CAPITALIZATION - QUARTERLY BREAKOUT

As of June 30, 2006

(in thousands, except per share data)

	Jun 30, 2006			Mar 31, 2006			Dec 31, 2005			Sep 30, 2005			Jun 30, 2005			Mar 31, 2005
Closing market price of common stock	$	20.90		$	24.56		$	23.12		$	23.25		$	22.70		$	20.59
Dividend yield (based on current annualized dividend) (1)		5.74	%		4.89	%		5.19	%		4.99	%		5.11	%		5.63	%
Dividends paid per share (1)	$	1.30		$	0.30		$	0.30		$	0.29		$	0.29		$	0.29
Net book value per share (fully diluted, end of period)	$	12.75		$	12.84		$	12.83		$	12.83		$	12.73		$	12.64
Liquidity
Cash and cash equivalents (includes cash held in escrow)	$	47,884		$	2,216		$	102		$	3,308		$	-		$	-
Revolving credit facilities
Gross potential available under current credit facilities		280,000			280,000		$	345,000			345,000			345,000			345,000
less:  Outstanding balance		(47,000	)		(115,000	)		(93,165	)		(39,000	)		(179,387	)		(144,763	)
Holdback for letters of credit		(5,896	)		(1,371	)		(1,283	)		(1,283	)		(1,283	)		(1,289	)
Net potential available under credit facilities	$	227,104		$	163,629		$	250,552		$	304,717		$	164,330		$	198,948
Equity market capitalization (end of period)
Common stock shares (in thousands)
Basic common shares		73,235.641			75,360.212			74,891.792			74,522.955			74,029.497			73,561.218
Diluted common shares
Unvested restricted common shares		401.834			391.214			517.637			525.954			582.787			576.122
Walden Woods shares		93.656			93.656			93.656			93.656			93.656			93.656
Common stock options (treasury method, closing price)		165.612			305.327			301.217			399.136			379.914			400.907
Fully diluted common shares		73,896.743			76,150.409			75,804.302			75,541.701			75,085.854			74,631.903
Total debt (excluding unamortized premium/discount)	$	952,698		$	1,137,160		$	1,005,494		$	954,078		$	985,674		$	978,745
Cash and cash equivalents (includes cash held in escrow)		(47,884	)		(2,216	)		(102	)		(3,308	)		-			-
Net debt		904,814			1,134,944			1,005,392			950,770			985,674			978,745
Equity market capitalization (fully diluted, end of period)		1,544,442			1,870,254			1,752,595			1,756,345			1,704,449			1,536,671
Total market capitalization	$	2,449,256		$	3,005,198		$	2,757,987		$	2,707,115		$	2,690,123		$	2,515,416
Net debt to total market capitalization		36.9	%		37.8	%		36.5	%		35.1	%		36.6	%		38.9	%
Gross real estate and securities investments	$	1,961,722		$	2,222,135		$	2,088,063		$	2,028,990		$	2,044,787		$	2,016,111
Net debt to gross real estate and securities investments		46.1	%		51.1	%		48.1	%		46.9	%		48.2	%		48.5	%

(1) Dividend amount includes a $1.00 special dividend paid on June 30, 2006. Dividend yield excludes the special dividend.

Page 8

EQUITY ONE, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

For the quarter ended June 30, 2006

(in thousands, except per share data)

	For the three months ended						Percent			For the six months ended						Percent
	Jun 30, 2006			Jun 30, 2005			Change			Jun 30, 2006			Jun 30, 2005			Change
Revenue:
Minimum rents	$	45,317		$	47,197					$	94,800		$	93,999
Expense recoveries		13,859			13,613						29,025			26,270
Lease termination fees		537			2,649						829			3,117
Percentage rent		190			334						1,480			1,463
Property management and leasing services		441			128						596			192
Total revenue		60,344			63,921			-5.6	%		126,730			125,041			1.4	%
Costs and expenses:
Property operating		17,166			15,744						34,908			31,110
Lease termination		598			-						953			-
Propertty management and leasing services		486			74						563			96
Rental property depreciation and amortization		11,474			10,785						23,444			21,026
General and administrative		4,665			4,370						9,281			8,710
Total costs and expenses		34,389			30,973			11.0	%		69,149			60,942			13.5	%
Income before other income and expenses, minority interest and discontinued operations		25,955			32,948						57,581			64,099
Other income and expenses:
Interest expense		(13,177	)		(13,033	)					(27,981	)		(25,063	)
Amortization of deferred financing fees		(376	)		(370	)					(731	)		(749	)
Investment income		1,113			1,215						5,765			1,924
Equity in income from unconsolidated joint ventures		1,655			-						1,655			-
Gain on sale of real estate		92,367			-						92,681			-
Loss on extinguishment of debt		(1,978	)		-						(2,270	)		-
Other income		39			-						389			-
Income before minority interest and discontinued operations		105,598			20,760						127,089			40,211
Minority interest		(122	)		(46	)					(150	)		(96	)
Income from continuing operations		105,476			20,714			409.2	%		126,939			40,115			216.4	%
Discontinued operations:
Operations of income producing properties sold or held for sale		247			672						657			1,446
Gain on disposal of income producing properties		5,624			3,757						6,116			5,372
Income from discontinued operations		5,871			4,429						6,773			6,818
Net income	$	111,347		$	25,143			342.9	%	$	133,712		$	46,933			184.9	%
Basic earnings per share
Income from continuing operations	$	1.42		$	0.28			407.1	%	$	1.70		$	0.55			209.1	%
Income from discontinued operations		0.08			0.06						0.09			0.09
Net income	$	1.50		$	0.34			341.2	%	$	1.79		$	0.64			179.7	%
Diluted earnings per share
Income from continuing operations	$	1.41		$	0.28			403.6	%	$	1.68		$	0.54			211.1	%
Income from discontinued operations		0.08			0.06						0.09			0.09
Net income	$	1.49		$	0.34			338.2	%	$	1.77		$	0.63			181.0	%
Weighted average shares outstanding
Basic		74,359			73,636						74,753			73,341
Diluted		75,071			74,656						75,488			74,377

Page 9

EQUITY ONE, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS - QUARTERLY BREAKOUT

For the quarter ended June 30, 2006

(in thousands, except per share data)

For the three months ended

	Jun 30, 2006			Mar 31, 2006			Dec 31, 2005			Sep 30, 2005			Jun 30, 2005			Mar 31, 2005
	___________			____________			___________			___________			___________			____________
Revenue:
Minimum rents	$	45,317		$	49,483		$	48,113		$	47,611		$	47,197		$	46,802
Expense recoveries		13,859			15,166			15,379			12,749			13,613			12,657
Lease termination fees		537			292			925			836			2,649			468
Percentage rent		190			1,290			175			109			334			1,129
Property management and leasing services		441			155			182			133			128			64
Total revenue		60,344			66,386			64,774			61,438			63,921			61,120
Costs and expenses:
Property operating		17,166			17,742			19,194			16,102			15,744			15,366
Lease termination		598			355			-			-			-			-
Property management and leasing services		486			77			91			42			74			22
Rental property depreciation and amortization		11,474			11,970			11,068			10,827			10,785			10,241
General and administrative		4,665			4,616			4,339			4,232			4,370			4,340
Total costs and expenses		34,389			34,760			34,692			31,203			30,973			29,969
Income before other income and expenses, minority interest and discontinued operations		25,955			31,626			30,082			30,235			32,948			31,151
Other income and expenses:
Interest expense		(13,177	)		(14,804	)		(12,813	)		(13,874	)		(13,033	)		(12,030	)
Amortization of deferred financing fees		(376	)		(355	)		(391	)		(372	)		(370	)		(379	)
Investment income		1,113			4,652			424			5,593			1,215			709
Equity in income from unconsolidated joint venture		1,655			-			-			-			-			-
Gain on sale of real estate		92,367			314			-			-			-			-
Loss on extinguishment of debt		(1,978	)		(292	)		-			-			-			-
Other income		39			350			-			-			-			-
Income before minority interest and discontinued operations		105,598			21,491			17,302			21,582			20,760			19,451
Minority interest		(122	)		(28	)		(44	)		(48	)		(46	)		(50	)
Income from continuing operations		105,476			21,463			17,258			21,534			20,714			19,401
Discontinued operations:
Operations of income producing properties sold or held for sale		247			410			509			419			672			774
Gain on disposal of income producing properties		5,624			492			-			6,088			3,757			1,615
Income from discontinued operations		5,871			902			509			6,507			4,429			2,389
Net income	$	111,347		$	22,365		$	17,767		$	28,041		$	25,143		$	21,790
Basic earnings per share
Income from continuing operations	$	1.42		$	0.29		$	0.23		$	0.29		$	0.28		$	0.27
Income from discontinued operations		0.08			0.01			0.01			0.09			0.06			0.03
Net income	$	1.50		$	0.30		$	0.24		$	0.38		$	0.34		$	0.30
Diluted earnings per share
Income from continuing operations	$	1.41		$	0.28		$	0.23		$	0.29		$	0.28		$	0.26
Income from discontinued operations		0.08			0.01			0.01			0.08			0.06			0.03
Net income	$	1.49		$	0.29		$	0.24		$	0.37		$	0.34		$	0.29
Weighted average shares outstanding
Basic		74,359			75,151			74,574			74,087			73,636			73,043
Diluted		75,071			75,978			75,501			75,144			74,656			74,193

Page 10

EQUITY ONE, INC. AND SUBSIDIARIES

PRO FORMA FINANCIAL INFORMATION FOR DISCONTINUED OPERATIONS

For the quarter ended June 30, 2006

(in thousands, except per share data)

	For the three months ended															For the six months ended
	Jun 30, 2006															Jun 30, 2006
				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
Revenue:
Minimum rents	$	45,317		$	287		$	213		$	74		$	45,604		$	94,800		$	802		$	425		$	377		$	95,602
Expense recoveries		13,859			25			5			20			13,884			29,025			121			9			112			29,146
Lease termination fees		537			-			-			-			537			829			-			-			-			829
Percentage rent		190			-			-			-			190			1,480			-			-			-			1,480
Property management and leasing services		441			-			-			-			441			596			-			-			-			596
Total revenue		60,344			312			218			94			60,656			126,730			923			434			489			127,653
Costs and expenses:
Property operating		17,166			46			5			41			17,212			34,908			92			9			83			35,000
Lease termination		598			-						-			598			953												953
Property management and leasing services		486			-						-			486			563												563
Rental property depreciation and amortization		11,474			19			-			19			11,493			23,444			88			-			88			23,532
General and administrative		4,665			-			-			-			4,665			9,281			-			-			-			9,281
Total costs and expenses		34,389			65			5			60			34,454			69,149			180			9			171			69,329
Income before other income and expenses, minority interest and discontinued operations		25,955			247			213			34			26,202			57,581			743			425			318			58,324
Other income and expenses:
Interest expense		(13,177	)		-			-			-			(13,177	)		(27,981	)		-			-			-			(27,981	)
Amortization of deferred financing fees		(376	)		-			-			-			(376	)		(731	)		-			-			-			(731	)
Investment income		1,113			-			-			-			1,113			5,765			-			-			-			5,765
Equity in income of unconsolidated joint venture		1,655									-			1,655			1,655												1,655
Gain on sale of real estate		92,367									-			92,367			92,681												92,681
Loss on extinguishment of debt		(1,978	)		-			-			-			(1,978	)		(2,270	)		-			-			-			(2,270	)
Other income		39			-			-			-			39			389			(86	)		-			(86	)		303
Income before minority interest and discontinued operations		105,598			247			213			34			105,845			127,089			657			425			232			127,746
Minority interest		(122	)		-			-			-			(122	)		(150	)		-			-			-			(150	)
Income from continuing operations		105,476			247			213			34			105,723			126,939			657			425			232			127,596
Discontinued operations:
Operations of income producing properties sold or held for sale		247			(247	)		(213	)		(34	)		-			657			(657	)		(425	)		(232	)		-
Gain on disposal of income producing properties		5,624			-			-			-			5,624			6,116			-			-			-			6,116
Income from discontinued operations		5,871			(247	)		(213	)		(34	)		5,624			6,773			(657	)		(425	)		(232	)		6,116
Net income	$	111,347		$	-		$	-		$	-		$	111,347		$	133,712		$	-		$	-		$	-		$	133,712

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

Page 11

EQUITY ONE, INC. AND SUBSIDIARIES

PRO FORMA FINANCIAL INFORMATION FOR DISCONTINUED OPERATIONS

For the quarter ended June 30, 2006

(in thousands, except per share data)

	For the three months ended															For the six months ended
	Jun 30, 2005															Jun 30, 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
Revenue:
Minimum rents	$	47,197		$	863		$	213		$	650		$	48,060		$	93,999		$	2,152		$	425		$	1,727		$	96,151
Expense recoveries		13,613			171			5			166			13,784			26,270			499			10			489			26,769
Lease termination fees		2,649			63			-			63			2,712			3,117			63			-			63			3,180
Percentage rent		334			-			-			-			334			1,463			4			-			4			1,467
Property management and leasing services		128			-			-			-			128			192												192
Total revenue		63,921			1,097			218			879			65,018			125,041			2,718			435			2,283			127,759
Costs and expenses:
Property operating		15,744			221			5			216			15,965			31,110			696			10			686			31,806
Property management and leasing services		74			-			-			-			74			96			-			-			-			96
Rental property depreciation and amortization		10,785			153			-			153			10,938			21,026			358			-			358			21,384
General and administrative		4,370			-			-			-			4,370			8,710			-			-			-			8,710
Total costs and expenses		30,973			374			5			369			31,347			60,942			1,054			10			1,044			61,996
Income before other income and expenses, minority interest and discontinued operations		32,948			723			213			510			33,671			64,099			1,664			425			1,239			65,763
Other income and expenses:
Interest expense		(13,033	)		(51	)		-			(51	)		(13,084	)		(25,063	)		(218	)		-			(218	)		(25,281	)
Amortization of deferred financing fees		(370	)		-			-			-			(370	)		(749	)		-			-			-			(749	)
Investment income		1,215			-			-			-			1,215			1,924			-			-			-			1,924
Other income		-			-			-			-			-			-			-			-			-			-
Income before minority interest and discontinued operations		20,760			672			213			459			21,432			40,211			1,446			425			1,021			41,657
Minority interest		(46	)		-			-			-			(46	)		(96	)		-			-			-			(96	)
Income from continuing operations		20,714			672			213			459			21,386			40,115			1,446			425			1,021			41,561
Discontinued operations:
Operations of income producing properties sold or held for sale		672			(672	)		(213	)		(459	)		-			1,446			(1,446	)		(425	)		(1,021	)		-
Gain on disposal of income producing properties		3,757			-			-			-			3,757			5,372			-			-			-			5,372
Income from discontinued operations		4,429			(672	)		(213	)		(459	)		3,757			6,818			(1,446	)		(425	)		(1,021	)		5,372
Net income	$	25,143		$	-		$	-		$	-		$	25,143		$	46,933		$	-		$	-		$	-		$	46,933

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

Page 12

EQUITY ONE, INC. AND SUBSIDIARIES

UNCONSOLIDATED STATEMENTS OF OPERATIONS

For the quarter ended June 30, 2006

(in thousands, except per share data) 

	For the three months ended
	Jun 30, 2006			Jun 30, 2005
Rental revenue:
Minimum rents	$	5,995		$	-
Expense recoveries		1,622			-
Lease termination revenue		28			-
Percentage rent		-			-
Total rental revenue		7,645			-
Costs and expenses:
Property operating		2,146			-
Rental property depreciation and amortization		3,328
Total costs and expenses		5,474			-
Income before other income and expenses, minority interest and discontinued operations		2,171			-
Other income and expenses:
Interest expense		(3,297	)		-
Amortization of deferred financing fees		(87	)		-
Investment income		74			-
Gain on sale of real estate		3,300	**
Income before minority interest and discontinued operations		2,161			-
Minority interest		-			-
Income from continuing operations		2,161			-
Discontinued operations:
Operations of income producing properties sold or held for sale		-			-
Gain (loss) on disposal of income producing properties		-			-
Income from discontinued operations		-			-
Net income	$	2,161		$	-

Note: EQYInvest was formed on April 26, 2006, accordingly there is no activity prior to this time.

Parcel F LLC held a parcel of land that was sold in April 2006. The entity did not have any other operating activities.

Page 13

EQUITY ONE, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF FUNDS FROM OPERATIONS

For the quarter ended June 30, 2006

(in thousands, except per share data)

	For the three months ended						For the six months ended						For the year ended
	Jun 30, 2006			Jun 30, 2005			Jun 30, 2006			Jun 30, 2005			Dec 31, 2005
Net income	$	111,347		$	25,143		$	133,712		$	46,933		$	92,741
Adjustments:
Rental property depreciation and amortization,
including discontinued operations		11,493			10,938			23,532			21,384			43,445
Gain on disposal of depreciable real estate		(92,704	)		(3,757	)		(93,196	)		(5,372	)		(11,460	)
Pro rata share of real estate depreciation from
unconsolidated joint venture		508			-			508			-			-
Minority interest		122			27			150			55			110
Funds from operations	$	30,766		$	32,351		$	64,706		$	63,000		$	124,836
Increase		-4.9	%					2.7	%
Earnings per diluted share*	$	1.49		$	0.34		$	1.77		$	0.63		$	1.24
Adjustments:
Rental property depreciation and amortization,
including discontinued operations		0.15			0.14			0.31			0.29			0.58
Gain on disposal of depreciable real estate		(1.24	)		(0.05	)		(1.23	)		(0.07	)		(0.15	)
Pro rata share of real estate depreciation from
unconsolidated joint venture		0.01			-			0.01			-			-
Funds from operations per diluted share	$	0.41		$	0.43		$	0.86		$	0.85		$	1.67
Increase		-4.7	%					1.2	%

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

Page 14

EQUITY ONE, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF FUNDS FROM OPERATIONS - QUARTERLY BREAKOUT

For the quarter ended June 30, 2006

(in thousands, except per share data)

	For the three months ended
	Jun 30, 2006			Mar 31, 2006			Dec 31, 2005			Sep 30, 2005			Jun 30, 2005			Mar 31, 2005
Net income	$	111,347		$	22,365		$	17,767		$	28,041		$	25,143		$	21,790
Adjustments:
Rental property depreciation and amortization, including discontinued operations		11,493			12,039			11,137			10,924			10,938			10,446
Gain on disposal of depreciable real estate		(92,704	)		(492	)		-			(6,088	)		(3,757	)		(1,615	)
Pro rata share of real estate depreciation from  unconsolidated joint venture		508			-
Minority interest		122			28			28			27			27			28
Funds from operations	$	30,766		$	33,940		$	28,932		$	32,904		$	32,351		$	30,649
Sequential increase (decrease)		(9.4	%)		17.3	%		(12.1	%)		1.7	%		5.6	%
Earnings per diluted share*	$	1.49		$	0.29		$	0.24		$	0.37		$	0.34		$	0.29
Adjustments:
Rental property depreciation and amortization, including discontinued operations		0.15			0.16			0.14			0.15			0.14			0.14
Gain on disposal of depreciable real estate		(1.24	)		-			-			(0.08	)		(0.05	)		(0.02	)
Pro rata share of real estate depreciation from unconsolidated joint venture		0.01			-			-			-			-			-
Funds from operations per diluted share	$	0.41		$	0.45		$	0.38		$	0.44		$	0.43		$	0.41
Sequential increase (decrease)		(8.9	%)		18.4	%		(13.6	%)		2.3	%		4.9	%

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

Page 15

EQUITY ONE, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF FUNDS AVAILABLE FOR DISTRIBUTION

For the quarter ended June 30, 2006

(in thousands, except per share data)

	For the three months ended						For the six months ended						For the year ended
	Jun 30, 2006			Jun 30, 2005			Jun 30, 2006			Jun 30, 2005			Dec 31, 2005
Funds from operations	$	30,766		$	32,351		$	64,706		$	63,000		$	124,836
Adjust for certain non-cash items:
Amortization of deferred financing fees		376			370			731			749			1,512
Amortization of above/below market rent intangibles		(773	)		(364	)		(1,296	)		(512	)		(1,006	)
Amortization of restricted stock and stock option expense		1,382			1,466			2,769			2,952			5,973
Straight line rents		(716	)		(1,086	)		(1,337	)		(2,353	)		(4,450	)
Capitalized interest		(1,600	)		(790	)		(2,676	)		(1,423	)		(3,354	)
Amortization of debt premium/discount		(193	)		(1,335	)		(3,079	)		(2,621	)		(5,159	)
Pro rata share of unconsolidated joint venture adjustments		(65	)		-			(65	)		-			-
Total non-cash items		(1,589	)		(1,739	)		(4,953	)		(3,208	)		(6,484	)
Adjust for recurring capital expenditures:
Tenant improvements		(1,127	)		(2,374	)		(1,838	)		(2,739	)		(4,935	)
Leasing commissions and costs		(787	)		(881	)		(1,864	)		(2,392	)		(4,583	)
Other capital expenditures		(368	)		(502	)		(794	)		(916	)		(4,583	)
Pro rata share of unconsolidated joint venture expenditures		(14	)		-			(14	)		-			-
Total recurring capital expenditures		(2,296	)		(3,757	)		(4,510	)		(6,047	)		(14,101	)
Funds available for distribution	$	26,881		$	26,855		$	55,243		$	53,745		$	104,251
		0.3	%					2.9	%
Funds available for distribution per diluted share	$	0.36		$	0.36		$	0.73		$	0.72		$	1.39
Increase		0.0	%					1.4	%
Cash dividends (1)	$	95,850		$	21,426		$	118,603		$	43,001		$	87,272

(1) Dividend amount includes a $1.00 special dividend paid on June 30, 2006.

Page 16

EQUITY ONE, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF FUNDS AVAILABLE FOR DISTRIBUTION - QUARTERLY BREAKOUT

For the quarter ended June 30, 2006

(in thousands, except per share data)

For the three months ended

	Jun 30, 2006			Mar 31, 2006			Dec 31, 2005			Sep 30, 2005			Jun 30, 2005			Mar 31, 2005
Funds from operations	$	30,766		$	33,940		$	28,932		$	32,904		$	32,351		$	30,649
Adjust for certain non-cash items:
Amortization of deferred financing fees		376			355			391			372			370			379
Amortization of above/below market rent intangibles		(773	)		(523	)		(254	)		(240	)		(364	)		(148	)
Amortization of restricted stock and stock option expense		1,380			1,387			1,498			1,523			1,466			1,486
Straight line rents		(648	)		(621	)		(940	)		(1,157	)		(1,086	)		(1,267	)
Capitalized interest		(1,600	)		(1,076	)		(1,055	)		(876	)		(790	)		(633	)
Amortization of debt premium/discount		(193	)		(2,886	)		(1,264	)		(1,274	)		(1,335	)		(1,286	)
Pro rate share of unconsolidated joint venture adjustments		(65	)		-			-			-			-			-
Total non-cash items		(1,523	)		(3,364	)		(1,624	)		(1,652	)		(1,739	)		(1,469	)
Adjust for recurring capital expenditures:
Tenant improvements		(1,127	)		(711	)		(572	)		(1,624	)		(2,374	)		(365	)
Leasing commissions and costs		(787	)		(1,077	)		(1,094	)		(1,097	)		(881	)		(1,511	)
Other capital expenditures		(368	)		(426	)		(686	)		(386	)		(502	)		(414	)
Pro rate share of unconsolidated joint venture expenditures		(14	)		-			-			-			-			-
Total recurring capital expenditures		(2,296	)		(2,214	)		(2,352	)		(3,107	)		(3,757	)		(2,290	)
Funds available for distribution	$	26,947		$	28,362		$	24,956		$	28,145		$	26,855		$	26,890
Sequential increase (decrease)		(5.0	%)		13.6	%		(11.3	%)		4.8	%		(0.1	%)
Funds available for distribution per diluted share	$	0.36		$	0.37		$	0.33		$	0.37		$	0.36		$	0.36
Sequential increase (decrease)		(2.7	%)		12.1	%		(10.8	%)		2.8	%		-
Cash dividends (1)	$	95,850		$	22,753		$	22,588		$	21,683		$	21,575		$	21,426

Page 17

EQUITY ONE, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(in thousands, except per share data)

As of

	Jun 30, 2006			Mar 31, 2006			Dec 31, 2005			Sep 30, 2005			Jun 30, 2005			Mar 31, 2005
Assets
Properties
Income producing	$	1,742,017		$	1,737,809		$	1,661,243		$	1,644,783		$	1,488,652		$	1,911,819
Less: accumulated depreciation		(127,293	)		(119,522	)		(111,031	)		(102,620	)		(86,123	)		(104,718	)
Rental property		1,614,724			1,618,287			1,550,212			1,542,163			1,402,529			1,807,101
Construction in progress and land held for development		128,767			102,784			64,202			57,950			52,818			50,026
Property held for sale		9,827			281,579			282,091			287,099			432,936			9,199
Properties, net		1,753,318			2,002,650			1,896,505			1,887,212			1,888,283			1,866,326
Cash and cash equivalents		3,424			2,216			102			-			-			-
Cash held in escrow		44,460			-			-			3,308			-			-
Accounts and other receivables, net		14,207			19,139			17,600			13,978			12,643			10,204
Securities		81,074			85,336			67,588			27,601			52,303			44,593
Goodwill		13,092			11,982			12,013			12,007			13,807			13,807
Investment in and advances to unconsolidated joint venture		209			285			285			273			273			273
Other assets		54,123			58,949			57,940			59,233			48,060			57,446
Total	$	1,963,907		$	2,180,557		$	2,052,033		$	2,003,612		$	2,015,369		$	1,992,649
Liabilities and stockholders' equity
Liabilities
Mortgage notes payable	$	366,699		$	378,922		$	392,480		$	391,801		$	389,907		$	488,817
Mortgage notes payable related to properties held for sale		-			54,186			54,445			57,745			64,296			-
Unsecured revolving credit facilities		47,000			115,000			93,165			39,000			179,387			144,763
Unsecured senior notes payable		538,999			589,052			465,404			465,532			347,310			345,165
Payable for securities		-			-			-			-			4,774			-
Total debt		952,698			1,137,160			1,005,494			954,078			985,674			978,745
Unamortized premium/discount on notes payable		11,898			12,041			15,830			17,093			18,984			20,318
Total notes payable		964,596			1,149,201			1,021,324			971,171			1,004,658			999,063
Accounts payable and other liabilities		55,926			52,531			56,555			62,115			53,446			48,787
Total liabilities		1,020,522			1,201,732			1,077,879			1,033,286			1,058,104			1,047,850
Minority interest		989			989			1,425			1,457			1,437			1,417
Stockholders' equity		942,396			977,836			972,729			968,869			955,828			943,382
Total	$	1,963,907		$	2,180,557		$	2,052,033		$	2,003,612		$	2,015,369		$	1,992,649

Page 18

EQUITY ONE, INC. AND SUBSIDIARIES

UNCONSOLIDATED JOINT VENTURE BALANCE SHEET

(in thousands, except per share data)

	As of			As of
	Jun 30, 2006			Dec 31, 2005
Assets
Properties
Income producing	$	361,478		$	-
Less: accumulated depreciation		(1,192	)		-
Rental property		360,286			-
Land held for sale		-			1,055
Construction in progress and land held for development		15,513			-
Properties, net		375,799			1,055
Cash and cash equivalents		13,231			-
Accounts and other receivables, net		1,093			-
Other assets		17,763			-
Total	$	407,886		$	1,055
Liabilities and joint venture's equity
Liabilities
Mortgage notes payable	$	312,200		$	-
Accounts payable and other liabilities		9,120			-
Total liabilities		321,320			-
Joint Venture's equity		86,566			1,055
Total	$	407,886		$	1,055

Note: EQYInvest LLC was formed on April 26, 2006 upon the sale of the 29 Texas properties. Equity One has a 20% ownership interest in the entity.

Parcel F LLC held a parcel of land that was sold in April 2006. Equity One had a 50% ownership interest in the entity.

Page 19

EQUITY ONE, INC. AND SUBSIDIARIES

CONSOLIDATED DEBT SUMMARY

As of June 30, 2006

(in thousands)

					Percent of total indebtedness
	Maturity		Jun 30, 2006	Dec 31, 2005
Debt Instrument	date	Rate (1)	balance	balance

Mortgage debt
Medford	03/01/06	8.690	%	$	-	$	5,206	0.00	%
Plymouth	03/01/06	8.690	%		-		3,805	0.00	%
Swampscott	03/01/06	8.690	%		-		2,262	0.00	%
Colony Plaza (2)	04/25/06	7.540	%		-		2,932	0.00	%
Forestwood (2)	04/25/06	5.070	%		-		6,961	0.00	%
Highland Square (2)	04/25/06	8.870	%		-		3,847	0.00	%
Parkwood (2)	04/25/06	7.280	%		-		6,015	0.00	%
Richwood (2)	04/25/06	7.280	%		-		3,099	0.00	%
Westgate Marketplace (2)	04/25/06	4.880	%		-		29,159	0.00	%
Minyards (2)	04/25/06	8.320	%		-		2,432	0.00	%
Walden Woods	05/03/06	7.875	%		-		2,148	0.00	%
Crossroads Square	06/01/06	8.440	%		-		12,123	0.00	%
Rosemeade	12/01/07	8.295	%		2,990		3,031	0.31	%
Commonwealth	02/15/08	7.000	%		2,443		2,510	0.25	%
Mariners Crossing	03/01/08	7.080	%		3,252		3,280	0.34	%
Pine Island/Ridge Plaza	07/01/08	6.910	%		23,990		24,195	2.49	%
North Port Shopping Center	02/08/09	6.650	%		3,846		3,902	0.40	%
Prosperity Centre	03/01/09	7.875	%		5,413		5,624	0.56	%
Ibis Shopping Center	09/01/09	6.730	%		5,397		5,497	0.56	%
Tamarac Town Square	10/01/09	9.190	%		5,979		6,029	0.62	%
Park Promenade	02/01/10	8.100	%		6,135		6,173	0.64	%
Skipper Palms	03/01/10	8.625	%		3,474		3,493	0.36	%
Jonathan's Landing	05/01/10	8.050	%		2,813		2,832	0.29	%
Bluff's Square	06/01/10	8.740	%		9,864		9,914	1.02	%

Page 20

EQUITY ONE, INC. AND SUBSIDIARIES

CONSOLIDATED DEBT SUMMARY

As of June 30, 2006

(in thousands)

					Percent of total indebtedness
	Maturity		Jun 30, 2006	Dec 31, 2005
Debt Instrument	date	Rate (1)	balance	balance

Kirkman Shoppes	06/01/10	8.740	%	$	9,315	$	9,362	0.97	%
Ross Plaza	06/01/10	8.740	%		6,497		6,529	0.67	%
Boynton Plaza	07/01/10	8.030	%		7,302		7,345	0.76	%
Pointe Royale	07/15/10	7.950	%		3,873		4,015	0.40	%
Shops at Skylake	08/01/10	7.650	%		13,667		13,874	1.42	%
Parkwest Crossing	09/01/10	8.100	%		4,610		4,636	0.48	%
Spalding Village	09/01/10	8.190	%		9,722		9,899	1.01	%
Charlotte Square	02/01/11	9.190	%		3,442		3,479	0.36	%
Forest Village	04/01/11	7.270	%		4,361		4,389	0.45	%
Boca Village	05/01/11	7.200	%		8,063		8,114	0.84	%
MacLand Pointe	05/01/11	7.250	%		5,695		5,731	0.59	%
Pine Ridge Square	05/01/11	7.020	%		7,137		7,184	0.74	%
Sawgrass Promenade	05/01/11	7.200	%		8,063		8,115	0.84	%
Presidential Markets	06/01/11	7.650	%		26,717		26,872	2.77	%
Lake Mary	11/01/11	7.250	%		23,866		24,011	2.47	%
Lake St. Charles	11/01/11	7.130	%		3,766		3,790	0.39	%
Belfair Towne Village	12/01/11	7.320	%		10,871		10,984	1.13	%
Marco Town Center	01/01/12	6.700	%		8,325		8,413	0.86	%
Riverside Square	03/01/12	9.190	%		7,412		7,474	0.77	%
Cashmere Corners	11/01/12	5.880	%		4,975		5,032	0.52	%
Eastwood	11/01/12	5.880	%		5,928		5,996	0.61	%
Meadows Shopping Center	11/01/12	5.870	%		6,229		6,301	0.65	%
Sparkleberry Square (3)	11/30/12	6.170	%		6,458		6,526	0.67	%
Lutz Lake	12/01/12	6.280	%		7,500		7,500	0.78	%
Alafaya Village	11/11/13	5.990	%		4,118		-	0.43	%

Page 21

EQUITY ONE, INC. AND SUBSIDIARIES

CONSOLIDATED DEBT SUMMARY

As of June 30, 2006

(in thousands)

					Percent of total indebtedness
	Maturity		Jun 30, 2006	Dec 31, 2005
Debt Instrument	date	Rate (1)	balance	balance

Summerlin Square	02/01/14	6.750	%	$	3,171	$	3,326	0.33	%
Bird Ludlum	02/15/15	7.680	%		8,688		9,035	0.90	%
Treasure Coast Plaza	04/01/15	8.000	%		4,082		4,238	0.42	%
Shoppes of Silverlakes	07/01/15	7.750	%		2,372		2,460	0.25	%
Grassland Crossing	12/01/16	7.870	%		5,567		5,657	0.58	%
Mableton Crossing	08/15/18	6.850	%		3,907		3,961	0.41	%
Sparkleberry Square (3)	06/30/20	6.750	%		7,460		7,618	0.77	%
BridgeMill	05/05/21	7.940	%		9,128		9,221	0.95	%
Westport Plaza	08/24/23	7.490	%		4,733		4,782	0.49	%
Chastain Square	02/28/24	6.500	%		3,664		3,719	0.38	%
Daniel Village	02/28/24	6.500	%		4,005		4,064	0.42	%
Douglas Commons	02/28/24	6.500	%		4,772		4,842	0.49	%
Fairview Oaks	02/28/24	6.500	%		4,516		4,583	0.47	%
Madison Centre	02/28/24	6.500	%		3,664		3,718	0.38	%
Paulding Commons	02/28/24	6.500	%		6,220		6,312	0.64	%
Siegen Village	02/28/24	6.500	%		4,047		4,107	0.42	%
Wesley Chapel Crossing	02/28/24	6.500	%		3,195		3,242	0.33	%
Total mortgage debt (54 loans)	5.4 years	7.30	%		366,699		446,925	38.02	%
Net interest premium/discount	(wtd-avg maturity)	(wtd-avg interest rate )			9,435		11,006	0.98	%
Total mortgage debt (including net interest premium/discount)				$	376,134	$	457,931	38.99	%

Page 22

EQUITY ONE, INC. AND SUBSIDIARIES

CONSOLIDATED DEBT SUMMARY

As of June 30, 2006

(in thousands)

					Percent of total indebtedness
	Maturity		Jun 30, 2006	Dec 31, 2005
Debt Instrument	date	Rate (1)	balance	balance

Unsecured senior notes payable
7.77% senior notes	04/01/06	7.770	%	$	-		$	50,000		0.00	%
7.25% senior notes	08/15/07	7.250	%		75,000			75,000		7.78	%
3.875% senior notes (4)	04/15/09	3.875	%		200,000			200,000		20.73	%
Fair value of $100MM fixed-to-floating interest rate swap (4)	04/15/09	6-month Libor + 0.4375%			(6,001	)		(4,596	)	(0.62	%)
7.84% senior notes	01/23/12	7.840	%		25,000			25,000		2.59	%
5.375% senior notes	10/15/15	5.375	%		120,000			120,000		12.44	%
6.00% senior notes	09/15/16	6.000	%		125,000			-		12.96	%
Total unsecured senior notes payable	5.9 years	5.491	%		538,999			465,404		55.88	%
Net interest premium/discount	(wtd-avg maturity)	(wtd-avg interest rate)			2,463			4,824		0.26	%
Total unsecured senior notes payable (including net interest premium/discount)				$	541,462		$	470,228		56.13	%
Revolving credit facilities
$275MM Wells Fargo Unsecured	01/17/09	5.686	%		47,000			93,000		4.87	%
$5MM City National Bank Unsecured	05/11/07	NA			-			165		0.00	%
Total revolving credit facilities				$	47,000		$	93,165		4.87	%
Total debt					952,698			1,005,494		98.77	%
Net interest premium/discount					11,898			15,830		1.23	%
Total debt (including net interest premium/discount)				$	964,596		$	1,021,324		100.00	%
Senior Unsecured Debt Ratings
Moody's					Baa3 (Positive)			Baa3 (Stable)
S&P					BBB- (Positive)			BBB- (Stable)

Page 23

EQUITY ONE, INC. AND SUBSIDIARIES

CONSOLIDATED DEBT MATURITIES

As of June 30, 2006

(in thousands)

	Secured Debt				Unsecured Debt
Maturity schedule by year	Scheduled amortization		Balloon payments		Revolving Credit Facilities (6)		Senior Notes (4)(7)		Total		Percent of debt maturing
2006	$	4,509	$	-	$	-	$	75,000	$	79,509		8.3	%
2007		9,563		2,864		-		-		12,427		1.3	%
2008		9,815		28,474		-		-		38,289		4.0	%
2009		9,634		17,926		47,000		200,000		274,560		28.6	%
2010		8,879		69,594		-		-		78,473		8.2	%
2011		7,456		93,433		-		-		100,889		10.5	%
2012		6,195		40,056		-		25,000		71,251		7.4	%
2013		5,771		3,556		-		-		9,327		1.0	%
2014		5,666		-		-		-		5,666		0.6	%
2015		4,192		30		-		120,000		124,222		13.0	%
Thereafter		29,102		9,984		-		125,000		164,086		17.1	%
Total	$	100,782	$	265,917	$	47,000	$	545,000	$	958,699		100.0	%

(1) The rate in effect on June 30, 2006.

(2) Repaid as part of the sale of the 29 Texas properties.

(3) Sparkleberry Square is encumbered by two separate mortgages.

(4) $100,000 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.

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

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

Page 24

EQUITY ONE, INC. AND SUBSIDIARIES

UNCONSOLIDATED JOINT VENTURE DEBT SUMMARY

As of June 30, 2006

(in thousands)

	Equity			Maturity					Jun 30, 2006		Dec 31, 2005
Debt Instrument	Ownership			date		Rate (1)			balance		balance
Mortgage notes payable
Fixed rate notes (EQYInvest Texas LLC)		20	%		04/06/16		5.734	%	$	248,400	$	-
Variable rate notes (EQYInvest Texas LLC)		20	%		04/06/08		5.334	%		63,800		-
Total mortgage notes payable					8.0 years		5.652	%	$	312,200	$	-
					(wtd-avg maturity)		(wtd-avg interest rate)
Equity One's pro-rata share of debt									$	62,440	$	-

Page 25

EQUITY ONE, INC. AND SUBSIDIARIES

PROPERTY STATUS REPORT

As of June 30, 2006

				Total				Super market anchor				Average
			Year	square		number				name		base rent
			built /	footage	Percent	of tenants		owned	shadow	expiration	Other	per leased
Property		City	renovated	owned	leased	leased	vacant	SF	SF	date	anchor tenants	SF
												____________
ALABAMA (2)
	Madison Centre	Madison	1997	64,837	97.5%	12	1	37,912		Publix	Rite Aid	$ 9.59
										(6/1/2017)
	West Gate Plaza	Mobile	1974 / 1985	64,378	96.2%	6	3	44,000		Winn-Dixie	Rite Aid	7.00
										(7/19/2015)
TOTAL SHOPPING CENTERS ALABAMA (2)				129,215	96.9%	18	4	81,912	-			$ 8.31
FLORIDA (78)
Central Florida (11)
	Alafaya Commons	Orlando	1987	123,133	100.0%	29	0	54,230		Publix	Blockbuster	12.15
										(11/30/2007)
	Alafaya Village	Orlando	1986	39,477	86.7%	14	1		53,979	Super Saver		16.11
	Conway Crossing	Orlando	2002	76,321	100.0%	18	0	44,271		Publix		11.99
										(4/30/2022)
	Eastwood	Orlando	1997	69,037	100.0%	13	0	51,512		Publix		11.58
										(11/1/2017)
	Eustis Square	Eustis	1983 / 1997 / 2004	126,791	96.9%	23	2	15,872		Save-a-Lot	Accent Marketing, Goodwill, Fred's Store	5.91
										(5/31/2013)
	Kirkman Shoppes	Orlando	1973	88,820	100.0%	30	0				Party Depot	17.33
	Lake Mary	Orlando	1988 / 2001	342,384	98.4%	67	18	63,139		Albertsons	Kmart, Lifestyle Fitness, Sunstar Movie Theatres	11.58
										(6/30/2012)
	Park Promenade	Orlando	1987 / 2000	125,818	100.0%	26	0	55,000		Publix*	Orange County Library, Blockbuster, Goodwill	8.72
										(2/9/2007)
	Town & Country	Kissimmee	1993	72,043	100.0%	13	0	52,883		Albertsons		7.68
										(10/31/2018)
	Unigold	Winter Park	1987	117,527	97.1%	24	1	52,500		Winn-Dixie	Blockbuster, Lifestyle Family Fitness	11.01
										(4/30/2007)
	Walden Woods	Plant City	1985 / 1998, 2003	75,874	82.9%	12	2				Dollar Tree, Aaron Rents, Dollar General	6.82
North Florida (12)
	Atlantic Village	Atlantic Beach	1984 / 1998	100,559	100.0%	25	0	39,795		Publix	JoAnn Fabrics, Dollar Tree	11.02
										(10/31/2008)
	Beauclerc Village	Jacksonville	1962 / 1988	70,429	86.9%	10	1				Big Lots, Goodwill, Bealls Outlet	8.15
	Commonwealth	Jacksonville	1984 / 1998	81,467	94.0%	14	2	48,997		Winn-Dixie/Save Rite		8.46
										(2/28/2018)
	Forest Village	Tallahassee	2000	71,526	90.5%	12	5	37,866		Publix		10.46
										(4/30/2020)
	Ft. Caroline	Jacksonville	1985 / 1995	74,546	96.2%	11	2	45,500		Winn-Dixie	Citi Trends	7.29
										(5/31/2015)
	Mandarin Landing	Jacksonville	1976 / 2000	141,565	84.8%	28	9	34,400		Publix	Office Depot	10.09
										(2/14/2007)
	Medical & Merchants	Jacksonville	1993	152,761	96.9%	14	3	55,999		Publix	Memorial Health Group, Blockbuster	12.26
										(2/10/2013)

Page 26

EQUITY ONE, INC. AND SUBSIDIARIES

PROPERTY STATUS REPORT

As of June 30, 2006

				Total				Super market anchor				Average
			Year	square		number				name		base rent
			built /	footage	Percent	of tenants		owned	shadow	expiration	Other	per leased
Property		City	renovated	owned	leased	leased	vacant	SF	SF	date	anchor tenants	SF
												____________
	Middle Beach	Panama City Beach	1994	69,277	100.0%	9	0	56,077		Publix	Movie Gallery	$ 9.62
										(9/30/2014)
	Monument Point	Jacksonville	1985 / 1997	75,128	100.0%	12	0	46,772		Winn-Dixie	CVS Pharmacy	6.88
										(3/27/2010)
	Oak Hill	Jacksonville	1985 / 1997	78,492	100.0%	19	0	39,795		Publix	Beall's	7.02
										(3/11/2010)
	Parkmore Plaza	Milton	1986	159,093	100.0%	13	0				Bealls, Big Lots	4.58
	Pensacola Plaza	Pensacola	1985	56,098	100.0%	3	0	42,848		FoodWorld		4.61
										(12/31/2009)
South Florida / Atlantic Coast (30)
	Bird Ludlum	Miami	1988 / 1998	192,282	100.0%	43	0	44,400		Winn-Dixie	CVS Pharmacy, Blockbuster, Goodwill, Bird Executive Suites	15.38
										(12/31/2007)
	Boca Village	Boca Raton	1978	93,428	96.6%	19	2	36,000		Publix	CVS Pharmacy	15.54
										(3/31/2012)
	Boynton Plaza	Boynton Beach	1978 / 1999	99,324	100.0%	29	0	37,664		Publix	CVS Pharmacy, Hollywood Video	11.56
										(8/31/2008)
	Countryside Shops	Cooper City	1986, 1988, 1991	179,561	95.6%	42	4	39,795		Publix	CVS Pharmacy, Stein Mart	12.82
										(12/4/2010)
**	Crossroads Square	Pembroke Pines	1973	270,206	98.6%	25	2				Lowe's, CVS Pharmacy, 99 Cent Stuff	7.95
	CVS Plaza	Miami	2004	29,204	100.0%	8	0				CVS Pharmacy	16.49
	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					21.34
	Greenwood	Palm Springs	1982, 1994	132,325	95.9%	34	4	50,032		Publix	Bealls Outlet, World Savings Bank	12.29
										(12/5/2014)
	Lago Mar	Miami	1995	82,613	93.9%	19	1	42,323		Publix		13.12
										(9/13/2015)
	Lantana Village	Lantana	1976 / 1999	181,780	100.0%	26	0	39,473		Winn-Dixie	Kmart, Rite Aid* (Family Dollar), Hollywood Video	7.32
										(2/15/2011)
	Meadows	Miami	1997	75,524	100.0%	20	0	47,955		Publix		13.00
										(7/9/2017)
	Oakbrook Square	Palm Beach Gardens	1974 / 2000, 2003	212,074	92.7%	28	2	44,400		Publix	Stein Mart, TJ Maxx/Home Goods, CVS, Basset Furniture, Duffy's Sports Bar	16.03
										(11/30/2020)
	Pine Island	Davie	1983 / 1999	254,907	98.7%	46	1	39,943		Publix	Home Depot Expo, Bealls Outlet	10.47
										(11/30/2013)
	Pine Ridge Square	Coral Springs	1986 / 1998, 1999	117,399	97.4%	33	3	17,441		Fresh Market	Bed Bath & Beyond, Off Main Furniture, Blockbuster	14.00
										(6/30/2009)
	Plaza Alegre	Miami	2003	91,611	97.4%	19	2	44,271		Publix	Goodwill, Blockbuster	14.86
										(3/14/2023)
	Point Royale	Miami	1970 / 2000	209,863	94.6%	23	2	45,350		Winn-Dixie	Best Buy, CVS Pharmacy* (Anna's Linens)	6.88
										(2/18/2011)
	Prosperity Centre	Palm Beach Gardens	1993	122,106	100.0%	9	0				Office Depot, Barnes & Noble, Bed Bath & Beyond, Carmine's, TJ Maxx	15.68

Page 27

EQUITY ONE, INC. AND SUBSIDIARIES

PROPERTY STATUS REPORT

As of June 30, 2006

				Total				Super market anchor				Average
			Year	square		number				name		base rent
			built /	footage	Percent	of tenants		owned	shadow	expiration	Other	per leased
Property		City	renovated	owned	leased	leased	vacant	SF	SF	date	anchor tenants	SF
												____________
	Ridge Plaza	Davie	1984 / 1999	155,204	100.0%	29	0	(see Pine Island)			AMC Theater, Kabooms, Wachovia* (United Collection), Sofa Kings, Round Up	$ 9.80
	Riverside Square	Coral Springs	1987	107,941	94.6%	33	3	39,795		Publix	Tuesday Morning	13.75
										(2/18/2007)
	Sawgrass Promenade	Deerfield Beach	1982 / 1998	107,092	97.0%	28	1	36,464		Publix	Walgreens, Blockbuster	11.47
										(12/15/2009)
	Sheridan	Hollywood	1973 / 1991	455,843	98.4%	64	2	65,537		Publix	CVS Pharmacy, Ross, Bed Bath & Beyond, Blockbuster, Office Depot, AMC Theater, LA Fitness	14.06
										(10/9/2011)
	Shoppes of Ibis	West Palm Beach	1999	79,420	100.0%	18	0	51,420		Publix		12.91
										(4/30/2019)
	Shoppes of Silverlakes	Pembroke Pines	1995, 1997	126,788	100.0%	40	0	47,813		Publix	Blockbuster	16.75
										(6/14/2015)
	Shops at Skylake	North Miami Beach	1999-2005	280,943	99.2%	48	2	51,420		Publix	Goodwill, L.A. Fitness, Blockbuster	15.85
										(7/31/2019)
	Tamarac Town Square	Tamarac	1987	127,635	93.1%	35	5	37,764		Publix	Dollar Tree	11.14
										(12/15/2014)
	Waterstone	Homestead	2005	82,531	100.0%	13	0	45,600		Publix	Walgreens	15.09
										(7/31/2025)
	West Lakes Plaza	Miami	1984 / 2000	100,747	100.0%	27	0	46,216		Winn-Dixie	Navarro Pharmacy	11.48
										(10/31/2016)
	Westport Plaza	Davie	2002	40,212	100.0%	6	0	27,887		Publix	Blockbuster	16.92
										(11/30/2022)
	Young Circle	Hollywood	1962 / 1997	65,834	96.7%	8	2	23,124		Publix	Walgreens	15.55
										(11/30/2016)
Florida Treasure Coast (7)
	Bluffs Square	Jupiter	1986	132,395	99.5%	46	1	39,795		Publix	Walgreens	13.03
										(10/22/2011)
	Cashmere Corners	Port St. Lucie	2001	89,234	100.0%	17	0	59,448		Albertsons		8.51
										(4/30/2025)
	Jonathan's Landing	Jupiter	1997	26,820	100.0%	12	0		53,850	Albertsons	Blockbuster	19.27
	New Smyrna Beach	New Smyrna Beach	1987	118,451	100.0%	34	0	42,112		Publix	Walgreens* (Bealls Outlet), Bealls Home Outlet, Blockbuster	10.31
										(9/30/2007)
	Old King Commons	Palm Coast	1988	84,759	100.0%	19	0				Wal-Mart* (Bealls Outlet)	8.35
	Ryanwood	Vero Beach	1987	114,925	100.0%	32	0	39,795		Publix	Bealls Outlet, Books-A-Million	10.16
										(3/23/2017)
	Salerno Village	Stuart	1987	79,903	96.8%	17	3	45,802		Winn-Dixie	CVS Pharmacy	10.60
										(3/23/2024)
Florida West Coast (18)
	Bay Pointe Plaza	St. Petersburg	1984 / 2002	103,986	95.6%	20	4	52,610		Publix	Bealls Outlet, West Marine	9.77
										(11/30/2021)
	Carrollwood	Tampa	1970 / 2002	94,203	86.1%	28	7	27,887		Publix	Floors Today	12.30
										(11/30/2022)
	Charlotte Square	Port Charlotte	1980	96,188	100.0%	24	0				American Signature Furniture, Seafood Buffet	8.51
	Chelsea Place	New Port Richey	1992	81,144	100.0%	18	0	48,890		Publix	CVS Pharmacy	11.41
										(5/27/2012)
	Dolphin Village	St. Pete Beach	1967 / 1990	138,129	93.7%	40	6	33,238		Publix	Dollar Tree, CVS	10.27
										(11/07/2013)

Page 28

EQUITY ONE, INC. AND SUBSIDIARIES

PROPERTY STATUS REPORT

As of June 30, 2006

				Total				Super market anchor				Average
			Year	square		number				name		base rent
			built /	footage	Percent	of tenants		owned	shadow	expiration	Other	per leased
Property		City	renovated	owned	leased	leased	vacant	SF	SF	date	anchor tenants	SF
												____________
	Lake St. Charles	Tampa	1999	57,015	100.0%	8	0	46,295		Sweet Bay		$ 9.94
										(6/30/2019)
	Lutz Lake	Lutz	2002	64,985	100.0%	15	0	44,270		Publix		14.00
										(5/31/2022)
	Marco Town Center	Marco Island	2001	109,830	100.0%	42	0	27,887		Publix	West Marine	16.95
										(1/31/2018)
	Mariners Crossing	Spring Hill	1989 / 1999	91,608	100.0%	15	0	48,315		Kash n' Karry		9.09
										(8/15/2020)
	Pavilion	Naples	1982	167,745	92.3%	39	3	50,795		Publix	Pavillion 6 Theatre, Anthony's	14.96
										(2/28/2013)
	Regency Crossing	Port Richey	1986 / 2001	85,864	85.7%	17	8	44,270		Publix		10.31
										(2/28/2021)
	Ross Plaza	Tampa	1984 / 1996	85,359	93.1%	16	3				Ross Dress for Less, Laminate Kingdom	10.27
	Seven Hills	Spring Hill	1991	64,590	96.1%	11	1	48,890		Publix		9.68
										(9/25/2011)
	Shoppes of North Port	North Port	1991	84,705	98.6%	21	1	48,890		Publix	Bealls Outlet	10.12
										(12/11/2011)
	Skipper Palms	Tampa	1984	88,000	87.8%	13	4	53,440		Winn-Dixie		9.12
										(5/31/2016)
	Summerlin Square	Fort Myers	1986 / 1998	109,156	80.2%	18	10	45,500		Winn-Dixie	West Marine	10.40
										(6/4/2011)
	Venice Plaza	Venice	1971/ 1979 / 1999	148,779	88.3%	14	2	42,582		Sweet Bay	TJ Maxx/Home Goods, Blockbuster	5.70
										(9/30/2018)
	Venice Shopping Center	Venice	1968 / 2000	111,934	98.1%	14	1	44,271		Publix	Beall's Outlet, Dollar Tree, Wachovia Bank	5.54
										(12/31/2026)
TOTAL SHOPPING CENTERS FLORIDA (78)				8,904,406	96.8%	1,763	138	2,774,525	107,829			$ 11.35
GEORGIA (24)
Atlanta (19)
	BridgeMill	Canton	2000	89,102	95.3%	28	3	37,888		Publix		15.02
										(1/31/2020)
	Butler Creek	Acworth	1990	95,597	97.1%	18	1	59,997		Kroger		10.90
										(6/30/2018)
	Chastain Square	Atlanta	1981 / 2001	91,637	100.0%	28	0	37,366		Publix		16.83
										(5/31/2024)
	Commerce Crossing	Commerce	1988	105,188	58.3%	8	3	32,000		Ingles	Fred's Store	4.75
										(9/26/2009)
	Douglas Commons	Douglasville	1988	97,027	100.0%	16	0	59,431		Kroger		10.27
										(8/31/2013)
	Fairview Oaks	Ellenwood	1997	77,052	98.7%	12	1	54,498		Kroger	Blockbuster	11.35
										(9/30/2016)
	Grassland Crossing	Alpharetta	1996	90,906	93.2%	11	3	70,086		Kroger		11.66
										(6/30/2016)
	Hairston Center	Decatur	2000	13,000	38.5%	4	5					15.25
	Hamilton Ridge	Buford	2002	89,496	95.3%	18	2	54,166		Kroger		12.96
										(11/30/2022)
	Mableton Crossing	Mableton	1997	86,819	98.6%	16	1	63,419		Kroger		10.33
										(8/31/2017)
	Macland Pointe	Marietta	1992-1993	79,699	98.5%	16	1	55,999		Publix		9.76
										(12/29/2012)

Page 29

EQUITY ONE, INC. AND SUBSIDIARIES

PROPERTY STATUS REPORT

As of June 30, 2006

				Total		number		Super market anchor				Average
			Year	square						name		base rent
			built /	footage	Percent	of tenants		owned	shadow	expiration	Other	per leased
Property		City	renovated	owned	leased	leased	vacant	SF	SF	date	anchor tenants	SF
												____________
	Market Place	Norcross	1976	77,706	96.5%	20	3				Peachtree Cinema	$ 11.10
	Paulding Commons	Dallas	1991	192,391	93.2%	24	7	49,700		Kroger	Kmart	7.91
										(2/28/2011)
	Piedmont Peachtree Crossing	Buckhead	1978 / 1998	152,239	100.0%	28	0	55,520		Kroger	Cost Plus Store, Binders Art Supplies	15.94
										(5/31/2010)
	Powers Ferry Plaza	Marietta	1979, 1987 / 1998	86,473	96.0%	22	2				Micro Center	10.58
	Presidential Markets	Snellville	1993-2000	396,408	98.2%	33	2	56,146		Publix	Bed Bath & Beyond, GAP, TJ Maxx, Shoe Carnival, Borders, Ross Dress for Less, Marshalls, Carmike Cinema, Office Depot	10.48
										(12/31/2019)
	Shops of Huntcrest	Lawrenceville	2003	97,040	100.0%	26	0	54,340		Publix		13.61
										(1/31/2023)
	West Towne Square	Rome	1988	89,596	77.0%	10	8				Big Lots	5.24
	Williamsburg @ Dunwoody	Dunwoody	1983	44,928	100.0%	27	0					18.54
Central Georgia (3)
	Daniel Village	Augusta	1956 / 1997	171,932	95.9%	36	3	45,971		Bi-Lo	Eckerd, St. Joseph Home Health Care	8.23
										(3/25/2022)
	Spalding Village	Griffin	1989	235,318	69.0%	22	6	59,431		Kroger	JC Penney*, Blockbuster, Fred's Store	7.74
										(5/31/2014)
	Walton Plaza	Augusta	1990	43,460	100.0%	8	0	32,960		Harris Teeter* (Omni Fitness)		9.61
										(4/1/2011)
South Georgia (2)
	Colony Square	Fitzgerald	1987	50,000	75.2%	3	4	32,200		Food Lion* (Harvey's)		5.80
										(12/31/2007)
	McAlpin Square	Savannah	1979	176,807	93.2%	24	3	43,600		Kroger	US Post Office, Big Lots, In Fashion Menswear Outlet	7.60
										(8/31/2015)
TOTAL SHOPPING CENTERS GEORGIA (24)				2,729,821	91.8%	458	58	954,718	-			$ 10.56
LOUISIANA (14)
	Ambassador Row	Lafayette	1980, 1991	193,978	82.5%	23	3				Conn's Appliances, Big Lots, Chuck E Cheese, Goody's	9.06
	Ambassador Row Courtyard	Lafayette	1986, 1991 / 2005	146,697	94.5%	22	1				Bed Bath & Beyond, Marshall's, Hancock Fabrics, United Training Academy	10.52
	Bluebonnet Village	Baton Rouge	1983	96,195	92.6%	18	3	33,387		Matherne's	Ace Hardware	8.75
										(11/30/2010)
	Boulevard	Lafayette	1976, 1994	68,012	94.9%	12	2				Piccadilly, Harbor Freight Tools, Golfballs.com	7.64
	Country Club Plaza	Slidell	1982 / 1994	64,686	100.0%	10	0	33,387		Winn-Dixie	Dollar General	6.07
										(1/31/2008)
	Crossing	Slidell	1988, 1993	113,989	97.4%	14	1	58,432		Save A Center	A-1 Home Appliance, Piccadilly	5.79
										(9/29/2009)
	Elmwood Oaks	Harahan	1989	133,995	95.7%	10	1				Academy Sports, Dollar Tree, Home Décor	9.40
	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	4.17
										(6/30/2010)
	Sherwood South	Baton Rouge	1972, 1988, 1992	77,107	100.0%	9	0				Burke's Outlet, Harbor Freight Tools, Blockbuster, Fred's Store	6.88

Page 30

EQUITY ONE, INC. AND SUBSIDIARIES

PROPERTY STATUS REPORT

As of June 30, 2006

				Total				Super market anchor				Average
			Year	square		number				name		base rent
			built /	footage	Percent	of tenants		owned	shadow	expiration	Other	per leased
Property		City	renovated	owned	leased	leased	vacant	SF	SF	date	anchor tenants	SF
												____________
	Siegen Village	Baton Rouge	1988	170,416	100.0%	20	0				Office Depot, Big Lots, Dollar Tree, Stage, Party City	$ 8.50
	Tarpon Heights	Galliano	1982	56,605	96.5%	8	1				CVS Pharmacy, Stage, Dollar General	4.90
	Village at Northshore	Slidell	1988	144,638	97.8%	12	2				Marshalls, Dollar Tree, Kirschman's*, Bed Bath & Beyond, Office Depot	8.39
	Wal-Mart Mathews	Mathews	1985	54,223	100.0%	1	0				Wal-Mart	2.90
TOTAL SHOPPING CENTERS LOUISIANA (14)				1,626,545	92.8%	166	16	153,298	-			$ 6.80
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		24.04
										(1/1/2016)
	Plymouth Shaw's Supermarket	Plymouth	1993	59,726	100.0%	1	0	59,726		Shaw's		17.77
										(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	76,316	97.2%	10	2	54,928		Shaw's		23.58
										(1/2/2016)
TOTAL SHOPPING CENTERS MASSACHUSETTS (6)				399,154	99.5%	15	2	377,766	-			$ 21.52
MISSISSIPPI (1)
	Shipyard Plaza	Pascagoula	1987	66,857	100.0%	8	0				Big Lots, Buffalo Wild Wings Gill & Bar	5.30
TOTAL SHOPPING CENTERS MISSISSIPPI (1)				66,857	100.0%	8	0	0	-			$ 5.30
NORTH CAROLINA (9)
	Centre Pointe Plaza	Smithfield	1989	163,642	93.7%	21	3				Belk's, Goody's, Dollar Tree, Aaron Rents	6.27
	Galleria	Wrightsville Beach	1986, 1990	92,114	93.8%	33	3	28,000		Harris Teeter	Eckerd	9.43
										(4/5/2006)
	Parkwest Crossing	Durham	1990	85,602	94.9%	16	1	38,052		Food Lion		10.29
										(12/14/2010)
	Plaza North	Hendersonville	1986	47,240	78.9%	7	3				CVS Pharmacy	6.80
	Riverview Shopping Center	Durham	1973 / 1995	127,498	96.5%	11	2	53,538		Kroger	Upchurch Drugs, Blockbuster, Riverview Galleries	7.29
										(12/31/2014)
	Salisbury Marketplace	Salisbury	1987	79,732	96.9%	19	1	31,762		Food Lion		10.23
										(2/11/2023)
	Shelby Plaza	Shelby	1972	103,200	100.0%	9	0				Big Lots, Aaron Rents, Burke's Outlet, Tractor Supply Company	3.87
	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	81.0%	19	8	53,368		Harris Teeter	Hall of Fitness	10.09
										(5/14/2009)
TOTAL SHOPPING CENTERS NORTH CAROLINA (9)				969,158	93.5%	146	23	236,720	-			$ 7.50

Page 31

EQUITY ONE, INC. AND SUBSIDIARIES

PROPERTY STATUS REPORT

As of June 30, 2006

				Total				Super market anchor				Average
			Year	square		number				name		base rent
			built /	footage	Percent	of tenants		owned	shadow	expiration	Other	per leased
Property		City	renovated	owned	leased	leased	vacant	SF	SF	date	anchor tenants	SF
												____________
SOUTH CAROLINA (8)
	Belfair Towne Village	Bluffton	2000-2003	125,389	100.0%	29	0	55,696		Kroger	Blockbuster	$ 14.28
										(10/31/2019)
	Lancaster Plaza	Lancaster	1971 / 1990	77,400	24.8%	1	3	19,200		Bi-Lo		3.50
										(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	96.8%	11	2	24,806		Bi-Lo	Dollar General, Gold's Gym	8.58
										(5/31/2009)
	Sparkleberry Square	Columbia	1997 / 2004	339,051	99.9%	26	1	67,943		Kroger	Kohl's, Ross Dress for Less, Circuit City, Bed Bath & Beyond, Petsmart, Pier One	11.27
										(8/31/2017)
	Spring Valley	Columbia	1978 / 1997	75,415	96.8%	16	2	45,070		Bi-Lo		9.20
										(12/31/2017)
	Windy Hill	North Myrtle Beach	1968 / 1988	67,265	100.0%	4	0				Rose's Store, Family Dollar Store	5.99
	Woodruff	Greenville	1995	68,055	100.0%	10	0	47,955		Publix	Blockbuster	10.26
										(8/6/2015)
TOTAL SHOPPING CENTERS SOUTH CAROLINA (8)				841,978	92.5%	99	8	260,670	-			$ 10.28
TENNESSEE (1)
	Smyrna Village	Smyrna	1992	83,334	98.3%	11	1	59,214		Kroger		8.31
										(2/29/2012)
TOTAL SHOPPING CENTERS TENNESSEE (1)				83,334	98.3%	11	1	59,214	-			$ 8.31
TEXAS (1)
	Rosemeade	Carrollton	1986	51,231	33.4%	8	10				Blockbuster	12.68
TOTAL SHOPPING CENTERS TEXAS (1)				51,231	33.4%	8	10	0	-			$ 12.68
VIRGINA (1)
	Smyth Valley Crossing	Marion	1989	126,841	97.8%	12	2	32,000		Ingles	Wal-Mart	5.82
										(9/25/2010)
TOTAL SHOPPING CENTERS VIRGINIA (1)				126,841	97.8%	12	2	32,000	-			$ 5.82
TOTAL CORE SHOPPING CENTER PORTFOLIO (145)				15,928,540	95.0%	2,704	262	4,930,823	107,829			$ 10.63
DEVELOPMENTS & REDEVELOPMENTS (17)
	Brookside Plaza	Enfield, CT	1985	210,787	77.9%	24	4	59,648		Shaw's	Walgreens, Marshalls*, Staples, Old Country Buffet, Blockbuster	10.94
										(8/31/2010)
	Chapel Trail Plaza	Pembroke Pines, FL	1996	56,378	8.3%	3	1					24.67
	Chestnut Square	Brevard, NC	1985	40,710	40.6%	5	3				Dollar General	8.63
	Deep Creek Land	Fairburn, GA	TBD	101.0 Acres
	Hunters Creek	Orlando, FL	1998	68,032	24.7%	8	1					18.19
	Providence Square	Charlotte, NC	1973	85,930	93.8%	20	5	35,702		Harris Teeter*	Eckerd	8.10
										(4/30/2006)

Page 32

EQUITY ONE, INC. AND SUBSIDIARIES

PROPERTY STATUS REPORT

As of June 30, 2006

				Total				Super market anchor				Average
			Year	square		number				name		base rent
			built /	footage	Percent	of tenants		owned	shadow	expiration	Other	per leased
Property		City	renovated	owned	leased	leased	vacant	SF	SF	date	anchor tenants	SF
												____________
**	River Green	Canton, GA	2008 Development	11.2 acres
	Shops at St. Lucie	Port St. Lucie, FL	2006 Development	27,361	18.2%	3	10					$ 21.01
	South Beach	Jacksonville Beach, FL	1990, 1991	289,964	83.5%	42	8					10.32
	Stanley Market Place	Stanley, NC	1980, 1987	40,400	29.7%	2	1				Family Dollar	4.02
**	Sunlake Development Parcel	Tampa, FL	TBD	155.0 acres
	Sunpoint Shopping Center	Ruskin, FL	1984	132,374	72.2%	21	4					9.05
	Treasure Coast	Vero Beach	1983	133,781	52.8%	22	3				TJ Maxx	11.54
	Waterlick Plaza	Lynchburg, VA	TBD	8.0 acres
	Wesley Chapel Crossing	Decatur, GA	1989	170,792	38.6%	17	9	32,000		Ingles*	CVS Pharmacy	8.06
										(9/25/2009)
	Westridge	McDonough, GA	2006	66,297	66.7%	5	16	38,997		Publix		13.44
										(4/30/2026)
	Winchester Plaza	Huntsville, AL	2006 Development	33.0 acres
TOTAL DEVELOPMENTS & REDEVELOPMENTS (17)				1,322,806	61.9%	172	65	166,347	-			$ 10.35
TOTAL RETAIL PROPERTIES (162)				17,251,346	92.4%	2,876	327	5,097,170	107,829			$ 10.61
OTHER PROPERTIES (7)
	4101 South I-85 Industrial	Charlotte, NC	1956, 1963	188,513	38.0%	2	7					1.86
	Banco Popular Office Building	Miami, FL	1971	32,737	100.0%	21	0					22.66
	Commonwealth II	Jacksonville, FL		53,598	0.0%	0	1
	Laurel Walk Apartments	Charlotte, NC	1985	106,480	97.5%	96	2					7.53
	Mandarin Mini-storage	Jacksonville, FL	1982	52,880	94.8%	506	28
	Pinhook Office Building	Lafayette, LA	1979, 1992	4,406	0.0%	0	2
	Prosperity Office Building	Palm Beach Gardens, FL	1972	3,200	0.0%	0	1
TOTAL CONSOLIDATED PROPERTIES (169)				17,693,160	91.6%	3,501	368	5,097,170	107,829			$ 10.55

Page 33

EQUITY ONE, INC. AND SUBSIDIARIES

PROPERTY STATUS REPORT

As of June 30, 2006

				Total				Super market anchor				Average
			Year	square		number				name		base rent
			built /	footage	Percent	of tenants		owned	shadow	expiration	Other	per leased
Property		City	renovated	owned	leased	leased	vacant	SF	SF	date	anchor tenants	SF
												____________
UNCONSOLIDATED PROPERTIES (29)
TEXAS (29)
Dallas (11)
	Creekside	Arlington	1997 / 1998	104,964	100.0%	19	0	60,932		Kroger	Hollywood Video	$ 12.19
										(11/30/2021)
	DeSoto Shopping Center	DeSoto	1996	69,090	100.0%	5	0	58,960		Tom Thumb	Blockbuster	9.66
										(11/15/2021)
	Green Oaks	Arlington	1983	65,091	61.0%	21	13		58,000	Kroger		11.00
	Melbourne Plaza	Hurst	1983	47,517	92.9%	16	2					11.75
	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	13.45
	Richwood	Richardson	1984	54,871	90.4%	23	4		61,877	Albertsons	Blockbuster	12.83
	Southlake Village	Southlake	1996	118,092	85.3%	17	5	60,932		Kroger		12.68
										(10/31/2021)
	Sterling Plaza	Irving	1989	65,765	96.7%	15	1				Bank One, Irving City Library, 99 Cent Only Store	13.92
	Townsend Square	Desoto	1990	146,953	82.6%	27	8		60,349	Albertsons	Bealls, Victory Gym, Dollar General, Desoto Children's Academy	8.99
	Village by the Park	Arlngton	1988	44,523	100.0%	10	0				Petco, Movie Trading	17.48
HOUSTON (15)
	Barker Cypress	Houston	1999	66,945	83.1%	10	7	41,320		H.E.B.		12.31
										(1/31/2014)
	Beechcrest	Houston	1981 / 2001	90,647	100.0%	15	0	40,345		Randall's*	Walgreens*	8.69
										(6/24/2016)
	Benchmark Crossing	Houston	1986	58,384	100.0%	5	0				Bally's Fitness	13.40
	Colony Plaza	Sugarland	1997	26,513	100.0%	15	0					19.00
	Copperfield	Houston	1994	137,884	97.3%	33	2				JoAnn Fabrics, Dollar Tree, 24 Hour Fitness	12.53
	Forestwood	Houston	1993	88,760	92.2%	13	3	59,334		Kroger	Blockbuster	11.05
										(7/31/2013)
	Grogan's Mill	The Woodlands	1986	118,517	98.1%	24	2	56,558		Randall's* (99¢ Store)	Petco, Blockbuster	12.33
										(6/24/2016)
	Highland Square	Sugarland	1998	64,171	99.7%	27	1					17.70
	Kirkwood Bissonnet	Houston	1999	15,542	50.9%	6	3		63,000	Kroger		16.53
	Market at First Colony	Sugarland	1988	107,301	98.1%	33	1		62,000	Kroger	TJ Maxx, CVS Pharmacy	16.21
	Mason Park	Katy	1998	161,297	97.2%	38	2		58,890	Kroger	Walgreens* (Eloise Collectibles), Palais Royal, Petco, Alamo Cimema	10.14
	Mission Bend	Houston	1980 / 1999	131,575	84.0%	21	6	46,112		Randall's*	Remarkable Furniture	8.54
										(6/24/2016)

Page 34

EQUITY ONE, INC. AND SUBSIDIARIES

PROPERTY STATUS REPORT

As of June 30, 2006

				Total				Super market anchor				Average
			Year	square		number				name		base rent
			built /	footage	Percent	of tenants		owned	shadow	expiration	Other	per leased
Property		City	renovated	owned	leased	leased	vacant	SF	SF	date	anchor tenants	SF
												____________
	Spring Shadows	Houston	1999	106,995	94.9%	16	2	65,161		H.E.B.		$ 9.78
										(4/30/2023)
	Steeplechase	Jersey Village	1985	105,152	90.0%	20	5	56,208		Randall's		10.95
										(6/24/2016)
	Westgate	Houston	1996 / 1998	298,354	97.4%	23	2	75,154		H.E.B.	Kohl's, Oshman's Sporting Goods, Office Max, Pier One Imports	11.65
										(12/31/2015)
SAN ANTONIO (3)
	Bandera Festival	San Antonio	1989	195,438	92.6%	32	7				Beall's, Big Lots, Burke's Outlet, Dollar Tree, FWL Furniture	8.94
	Blanco Village	San Antonio	2000	108,325	100.0%	16	0	74,627		H.E.B.		16.28
										(4/30/2015)
	Wurzbach	San Antonio	1979	59,771	97.2%	2	1				Travis Associates	1.97
TOTAL UNCONSOLIDATED PROPERTIES (29)				2,805,322	93.1%	520	81	754,338	426,116			$ 11.51
GRAND TOTAL (198)				20,498,482	91.8%	4,021	449	5,851,508	533,945			$ 10.68

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

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

** Indicates a portion of this property is classified as held for sale as of June 30, 2006.

Page 35

EQUITY ONE, INC. AND SUBSIDIARIES

ANNUAL MINIMUM RENT BY STATE

As of June 30, 2006 

State	Count		Total SF		# Leased		# Vacant		Leased %			AMR
Florida
South Florida / Atlantic Coast		31		4,142,911		777		39		96.6	%	$	50,902,213
Florida West Coast		19		1,915,594		394		54		92.2	%		18,387,599
Other Florida		34		3,553,791		691		72		92.4	%		33,102,540
Florida- subtotal		84		9,612,296		1,862		165		94.2	%		102,392,352
Georgia		26		2,966,910		480		83		88.2	%		27,581,117
Louisiana		14		1,626,545		166		16		92.8	%		10,271,707
Massachusetts		6		399,154		15		2		99.5	%		8,542,101
South Carolina		8		841,978		99		8		92.5	%		8,008,549
North Carolina		12		1,136,198		173		32		89.3	%		7,637,943
Texas		30		2,856,553		528		91		92.1	%		6,231,676
Connecticut		1		210,787		24		4		77.9	%		1,796,869
Alabama		2		129,215		18		4		96.9	%		1,039,898
Virginia		1		126,841		12		2		97.8	%		722,281
Tennessee		1		83,334		11		1		98.3	%		680,965
Mississippi		1		66,857		8		0		100.0	%		354,078
Total		186		20,056,668		3,396		408		92.5	%	$	175,259,536

Note: Excludes five development parcels and seven non-retail properties. The 29 unconsolidated Texas properties reflect full property statistics and pro-rata share of AMR.

Page 36

EQUITY ONE, INC. AND SUBSIDIARIES

LEASING ACTIVITY

For the three months ended June 30, 2006

Renewals
				Average	Average	Annualized
		Average		Expiring	New	Minimum
# of Leases	Square Feet	Size		Rent psf	Rent psf	Rent
78	289,460	3,711		$12.32	$12.95	$3,749,677
				% Increase psf	5.2%
			Net Increase (AMR)			$183,892
New Leases
					Average	Annualized
		Average			New	Minimum
# of Leases	Square Feet	Size			Rent psf	Rent
86	265,397	3,086			$13.45	$3,570,051
Lost Leases
				Average		Annualized
		Average		Expiring		Minimum
# of Leases	Square Feet	Size		Rent psf		Rent
57	224,578	3,940		$10.17		$2,283,702
Net Absorption	40,819	New Leases - Lost Leases
Leasing Spread	32.3%	New Leases versus Lost Leases (rate psf)
					Net AMR Gain	$1,470,240

Note Excludes 29 unconcolidated properties, five development parcels and seven non-retail properties.

Page 37

EQUITY ONE, INC. AND SUBSIDIARIES

OCCUPANCY STATISTICS

As of June 30, 2006

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

Note: Reflects 131 properties owned by Equity One in each of the previous eight quarters.

Page 38

EQUITY ONE, INC. AND SUBSIDIARIES

SAME PROPERTY OCCUPANCY STATISTICS - STATE BREAKOUT

As of June 30, 2006

Note: Consolidated properties reflect 131 properties owned by Equity One in each of the previous eight quarters. Unconsolidated properties reflect properties owned in each of the previous eight quarters.

(1) Reflects one consolidated property in Texas.

Page 39

EQUITY ONE, INC. AND SUBSIDIARIES

TENANT CONCENTRATION SCHEDULE

CONSOLIDATED PROPERTIES

As of June 30, 2006

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		51		2,238,355		13.0	%	$	16,611,140		9.8	%	$	7.42
Albertsons/Shaw's		9		578,977		3.4	%		8,512,332		5.0	%		14.70
Kroger		14		809,689		4.7	%		6,551,754		3.9	%		8.09
Winn Dixie		13		594,537		3.4	%		4,106,169		2.4	%		6.91
Blockbuster		25		145,424		0.8	%		2,358,133		1.4	%		16.22
TJX Companies		9		275,658		1.6	%		2,340,942		1.4	%		8.49
Bed Bath & Beyond		7		227,689		1.3	%		2,209,820		1.3	%		9.71
CVS Pharmacy		16		166,178		1.0	%		1,850,822		1.1	%		11.14
K-Mart Corporation		4		343,617		2.0	%		1,699,705		1.0	%		4.95
Office Depot, Inc.		6		165,943		1.0	%		1,699,027		1.0	%		10.24
Sub-total top ten tenants		154		5,546,067		32.1	%	$	47,939,844		28.3	%	$	8.64
Remaining tenants		2,722		10,402,425		60.3	%		121,305,036		71.7	%		11.66
Sub-total all tenants		2,876		15,948,492		92.4	%		169,244,880		100.0	%	$	10.61
Vacant		327		1,302,854		7.6	%		NA		NA			NA
Total including vacant		3,203		17,251,346		100.0	%	$	169,244,880		100.0	%	$	9.81

Note Excludes 29 unconcolidated properties, five development parcels and seven non-retail properties.

Page 40

EQUITY ONE, INC. AND SUBSIDIARIES

TENANT CONCENTRATION SCHEDULE

CONSOLIDATED AND UNCONSOLIDATED PROPERTIES (AT FULL AMR)

As of June 30, 2006

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		51		2,238,355		11.2	%	$	16,611,140		8.3	%	$	7.42
Albertsons/Shaw's		9		578,977		2.9	%		8,512,332		4.3	%		14.70
Kroger		17		990,887		4.9	%		8,101,971		4.1	%		8.18
Winn Dixie		13		594,537		3.0	%		4,106,169		2.1	%		6.91
Blockbuster		32		187,410		0.9	%		3,027,888		1.5	%		16.16
H.E. Butt Grocery		4		256,262		1.3	%		2,775,355		1.4	%		10.83
TJX Companies		10		300,878		1.5	%		2,528,817		1.3	%		8.40
Bed Bath & Beyond		7		227,689		1.1	%		2,209,820		1.1	%		9.71
CVS Pharmacy		18		183,533		0.9	%		2,056,618		1.0	%		11.21
Safeway/Randalls		5		258,183		1.3	%		1,927,503		0.9	%		7.47
Sub-total top ten tenants		166		5,816,711		29.0	%	$	51,857,613		26.0	%	$	8.92
Remaining tenants		3,230		12,744,559		63.5	%		147,460,549		74.0	%		11.57
Sub-total all tenants		3,396		18,561,270		92.5	%		199,318,162		100.0	%	$	10.74
Vacant		408		1,495,398		7.5	%		NA		NA			NA
Total including vacant		3,804		20,056,668		100.0	%	$	199,318,162		100.0	%	$	9.94

Note: Excludes five development parcels and seven non-retail properties.

Page 41

EQUITY ONE, INC. AND SUBSIDIARIES

SHOPPING CENTER LEASE EXPIRATION SCHEDULE

CONSOLIDATED PROPERTIES

As of June 30, 2006

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	131	330,030	1.9%	$ 3,211,870	1.8%	9.73
	2006	345	844,717	4.9%	11,008,973	6.3%	13.03
	2007	583	1,902,460	11.0%	22,417,748	12.8%	11.78
	2008	576	1,688,472	9.8%	22,486,826	12.9%	13.32
	2009	442	1,810,326	10.5%	20,891,946	11.9%	11.54
	2010	360	1,725,603	10.0%	19,384,484	11.1%	11.23
	2011	186	1,500,757	8.7%	14,516,700	8.3%	9.67
	2012	39	868,676	5.0%	6,719,319	3.8%	7.74
	2013	34	602,083	3.5%	5,651,514	3.2%	9.39
	2014	30	719,769	4.2%	5,582,444	3.2%	7.76
	2015	30	451,993	2.6%	4,722,698	2.7%	10.45
	Thereafter	120	3,503,606	20.2%	38,249,570	22.0%	10.92
	Sub-total / average	2,876	15,948,492	92.4%	$ 174,844,092	100.0%	$ 10.96
	Vacant	327	1,302,854	7.6%	NA	NA	NA
	Total / average	3,203	17,251,346	100.0%	$ 174,844,092	100.0%	$ 10.14

Note Excludes 29 unconcolidated properties, five development parcels and seven non-retail properties.

Page 42

EQUITY ONE, INC. AND SUBSIDIARIES

SHOPPING CENTER LEASE EXPIRATION SCHEDULE

CONSOLIDATED PROPERTIES

As of June 30, 2006

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	4	90,246	0.8%	$ 536,948	0.7%	$ 5.95
	2006	7	180,306	1.6%	932,178	1.1%	5.17
	2007	27	747,070	6.7%	4,676,489	5.7%	6.26
	2008	21	531,307	4.8%	3,536,867	4.3%	6.66
	2009	34	970,826	8.7%	5,983,883	7.3%	6.16
	2010	42	943,887	8.5%	6,129,236	7.5%	6.49
	2011	37	1,141,747	10.2%	7,734,303	9.5%	6.77
	2012	20	787,166	7.1%	5,039,895	6.2%	6.40
	2013	15	533,716	4.8%	4,255,651	5.2%	7.97
	2014	15	661,561	5.9%	4,415,767	5.4%	6.67
	2015	13	393,588	3.5%	3,416,151	4.2%	8.68
	Thereafter	73	3,366,311	30.3%	34,982,936	42.9%	10.39
	Sub-total / average	308	10,347,731	92.8%	$ 81,640,304	100.0%	$ 7.89
	Vacant	22	800,835	7.2%	NA	NA	NA
	Total / average	330	11,148,566	100.0%	$ 81,640,304	100.0%	$ 7.32

Note Excludes 29 unconcolidated properties, five development parcels and seven non-retail properties.

Page 43

EQUITY ONE, INC. AND SUBSIDIARIES

SHOPPING CENTER LEASE EXPIRATION SCHEDULE

CONSOLIDATED PROPERTIES

As of June 30, 2006

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	127	239,784	3.9%	$ 2,674,922	2.9%	$ 11.16
	2006	338	664,411	10.9%	10,076,795	10.8%	15.17
	2007	556	1,155,390	18.9%	17,741,259	19.0%	15.36
	2008	555	1,157,165	19.0%	18,949,959	20.3%	16.38
	2009	408	839,500	13.8%	14,908,063	16.0%	17.76
	2010	318	781,716	12.7%	13,255,248	14.2%	16.96
	2011	149	359,010	5.9%	6,782,397	7.3%	18.89
	2012	19	81,510	1.3%	1,679,424	1.8%	20.60
	2013	19	68,367	1.1%	1,395,863	1.5%	20.42
	2014	15	58,208	1.0%	1,166,677	1.3%	20.04
	2015	17	58,405	0.9%	1,306,547	1.4%	22.37
	Thereafter	47	137,295	2.2%	3,266,634	3.5%	23.79
	Sub-total / average	2,568	5,600,761	91.8%	$ 93,203,788	100.0%	$ 16.64
	Vacant	305	502,019	8.2%	NA	NA	NA
	Total / average	2,873	6,102,780	100.0%	$ 93,203,788	100.0%	$ 15.27

Note Excludes 29 unconcolidated properties, five development parcels and seven non-retail properties.

Page 44

EQUITY ONE, INC. AND SUBSIDIARIES

REAL ESTATE DEVELOPMENTS AND REDEVELOPMENTS

As of June 30, 2006

(in thousands, except square footage data)

	Project	Location	Project Description	Target Completion Date	Estimated Cost Including Land	Funded as of 06/30/2006	Balance to Complete
Developments
	Shops at St. Lucie	Port St. Lucie, FL	Lease up a 19,361 sf retail center, adjacent to our Cashmere Corners.		$ 3,264	$ 2,989	$ 275
	Westridge	McDonough, GA	Completed 66,297 sf Publix anchored center and currently leasing the balance of the space.		3,146	2,430	716
	Winchester Plaza	Huntsville, AL	Near term completion of a supermarket anchored center.	Third Quarter 2006	10,226	8,644	1,582
Subtotal - Developments					16,636	14,063	2,573
Major Redevelopments
	Brookside Plaza	Enfield, CT	Redeveloping existing shopping center and reconfigure 25,000 sf of the exisitng center.		5,297	3,430	1,867
	Chapel Trail	Pembroke Pines, FL	Reconfigure 51,703 sf of the exisitng center.		8,183	8,183	-
	Chestnut Square	Brevard, NC	Redeveloping existing shopping center.		4,549	1,787	2,762
	Hunters Creek	Orlando, FL	Reconfigure the former Winn Dixie space into mult-tenant retail.		5,520	5,520	-
	South Beach Regional	Jacksonville Beach, FL	Reconfigure 29,000 sf of the exisitng center.		3,593	2,843	750
	Stanley Market Place	Stanley, NC	Reconfigure the former Winn Dixie into a new Food Lion and add 7,000 sq ft of retail space.		5,483	996	4,487
	Spalding	Griffin, GA	Reconfigure 66,146 sf of the exisitng center.		2,421	2,421	-
	Sunpoint	Ruskin, FL	Reconfigure 30,295 sf of the exisitng center.		1,676	1,676	-
	Treasure Coast	Vero Beach, FL	Reconfigure 59,450 sf of the exisitng center.		4,671	4,671	-
	Wesley Chapel	Decatur, GA	Reconfigure the former WalMart space into multi-tenant space; prospecting for new tenants .		4,939	4,939	-
Subtotal - Major Redevelopments					46,332	36,466	9,866
Out parcels/ Other Developments/Expansions
	Belfair Towne Village	Bluffton, SC	Adding 41,250 sq ft of retail space to existing property.	Fourth quarter 2006	4,664	2,157	2,507
	Bluebonnet	Baton Rouge, LA	Lease up 11,408 sq ft of retail on an out parcel at an existing property.		732	594	138
	Deep Creek	Fairburn, GA	101 acre mixed-use development project.	TBD	8,086	8,086	-
	Dolphin Village	St Pete Beach, FL	Future mixed-use development.	TBD	10,864	10,864	-
	Piedmont Peachtree	Buckhead, GA	Future mixed-use development.	TBD	14,843	14,843	-
	River Green	Canton, GA	9.2 acres held for future developemnt. Prospecting for tenant(s).	TBD	2,708	2,708	-
	Riverview	Durham, NC	Construction of additional 5,000 sq ft out parcel building has commenced.		770	417	353
	Seven Hills	Spring Hill, FL	Construction of additional 8,400 sq ft of retail space to existing property.		1,390	1,132	258
	Sunlake	Tampa, FL	155 acre mixed-use development project.	TBD	22,603	14,637	7,966
	West Roxbury	West Roxbury, MA	Leaswe up new 8,000 sq ft out parcel building.		871	455	416
	Windy Hill	North Myrtle Beach, SC	Lease up new 4,000 sq ft out parcel building.		212	212	-
	Young Circle	Hollywood, FL	Future mixed-use development.	TBD	10,274	10,274	-
Subtotal - Out parcels/ Other Developments/Expansions					78,017	66,379	11,638
	All other development activity				12,022	11,859	163
Total - Development Activity					$ 153,007	$ 128,767	$ 24,240

Page 45

EQUITY ONE, INC. AND SUBSIDIARIES

REAL ESTATE ACQUISITIONS AND DISPOSITIONS

As of June 30, 2006

(in thousands, except square foot data)

2006 Acquisition Activity
Date Purchased	Property Name	City	State	Square Feet/ Acres	Purchase Price
Jan. 4, 2006	Dolphin Village	St. Pete Beach	FL	138,129	$ 28,000
Jan. 12, 2006	Brookside Plaza	Enfield	CT	210,787	28,500
Jan. 26, 2006	Commonwealth II	Jacksonville	FL	53,598	600
Mar. 3, 2006	Piedmont Peachtree Crossing	Buckhead	GA	152,239	47,950
Mar. 20, 2006	Prosperity Office Building	Palm Beach Gardens	FL	3,200	1,400
Apr. 20, 2006	Alafaya Village	Orlando	FL	39,477	6,638
May 5, 2006	Sunpoint Shopping Center	Ruskin	FL	132,374	7,500
May 10, 2006	Chapel Trail Plaza	Pembroke Pines	FL	56,378	8,900
Jun. 23, 2006	Deep Creek Land	Fairburn	GA	101 Acres	8,000
Total					$ 137,488

2006 Disposition Activity
Date Sold	Property Name	City	State	Square Feet/ Acres	Gross Sales Price	Gain on Sale
Mar. 27, 2006	Scottsville Square	Bowling Green	KY	38,450	$ 2,500	$ 478
Apr. 25, 2006	Sutherland Lumber	Marble Falls	TX	53,571	2,000	3
Apr. 26, 2006	29 property portifolio	Various	TX	2,805,322	371,659	87,081
May 2, 2006	Hedwig	Houston	TX	69,504	13,350	5,634
Sale of income producing property					389,509	93,196
Feb. 7, 2006	Westridge out parcel	McDonough	GA	1.0 Acre	875	314
Apr. 10, 2006	Westridge out parcel	McDonough	GA	1.0 Acre	583	205
Apr. 26, 2006	6 Texas land parcels	Various	TX		15,513	5,082
Sale of non-depreciable property					16,971	5,601
Total					$ 406,480	$ 98,797
Properties Held for Sale as of June 30, 2006

	Property Name	City	State
**	Crossroads (Lowe's)	Pembroke Pines	FL
**	Sunlake land parcel	Tampa	FL
**	River Green land parcel	Canton	GA

* Equity One retained an unconsolidated 20% interest in these properties.

** Indicates a portion of this property is held for sale.

Page 46

EQUITY ONE, INC. AND SUBSIDIARIES

ANALYST COVERAGE

As of June 30, 2006

BB&T Capital Markets	Bear Stearns & Co. Inc.	BMO Capital Markets
Stephanie M. Krewson	Ross Smotrich	Paul Adornato
804-782-8784	212-272-8046	212-885-4170
Rob Whittemore	Amy L. Young, CFA
804-782-8796	212-272-3523

Deutsche Bank Securities Inc.	Friedman Billings Ramsey	JP Morgan Securities Inc.	Merrill Lynch
Louis W. Taylor	Paul Morgan	Michael W. Meuller, CFA	Craig Schmidt
212-250-4912	703-469-1255	212-622-6689	212-449-1944
Christeen Kim	Michael Blank	Joseph Dazio	Steve Sakwa
212-250-6771	703-469-1115	212-622-6416	212-449-0335
	Ron She	Bradley Kritzer
	703-312-9683	212-449-1167
Miller Tabak & Co., LLC	Raymond James & Assoc.	Royal Bank of Canada	Stifel, Nicolaus & Co.
Tom Mitchell	Paul D. Puryear	Richard Moore	David M. Fick, CPA
518-523-3261	727-567-2253	216-378-7625	410-454-5018
	Ken Avalos		Nathen Isbee
	727-567-2660		410-454-4143

Page 47