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) October 31, 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:

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

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

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

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

Section 2 - Financial Information 

Item 2.02Results of Operations and Financial Condition.

On October 31, 2006, Equity One, Inc. (the “Company”) announced its financial results for the three and nine month periods ended September 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 7.01Regulation FD Disclosure.

On October 31, 2006, the Company announced its financial results for the three and nine months period ended September 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 October 31, 2006.

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

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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.

October 31, 2006	EQUITY ONE, INC.
	By: /s/ Howard Sipzner
	Chief Financial Officer

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EXHIBIT INDEX

Exhibit No. Document

99.1 Earnings Press Release of Equity One, Inc. dated October 31, 2006

99.2 Information Package of Equity One, Inc. September 30, 2006

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EX-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 Third Quarter 2006 Operating Results

North Miami Beach, FL; October 31, 2006 -- Equity One, Inc. (NYSE:EQY), an owner, developer and operator of community and neighborhood shopping centers located in high growth and high barrier markets in the southern and northeastern United States, announced today its financial results for the three and nine month periods ended September 30, 2006.

Third Quarter 2006 Financial Highlights

— Net income totaled $14.1 million, compared to $28.0 million for 2005. For comparison purposes, net income for the third quarter of 2006 included a charge of $1.1 million of abandoned transaction costs and $2.6 million of gains on the sale of real estate, while the third quarter of 2005 had $6.1 million of gains on the sale of real estate as well as $5.2 million of gains attributable to the sale of certain securities. Also, the third quarter of 2006 reflects the full impact of the second quarter 2006 sale of an 80% interest in 29 Texas properties and the related $1.00 per share special dividend;

— Net income per diluted share was $0.19 versus $0.37 in 2005;

— Funds from Operations (“FFO”) totaled $25.5 million versus $32.9 million in 2005;

— FFO per diluted share was $0.35 versus $0.44 in 2005;

— Interest expense coverage ratio equaled 2.8 times for the third quarter of 2006; and

— Net debt to total market capitalization measured 35.8% as of September 30, 2006.

Third Quarter 2006 Operating Highlights

— Produced a 3.0% increase in same property net operating income (“NOI”) and an overall NOI margin of 72.2%;

— Increased the average rental rate by 6.1% to $11.52 per square foot on 114 lease renewals aggregating 380,667 square feet;

— Executed 82 new leases totaling 414,193 square feet at an average rental rate of $11.53 per square foot, representing a 22.0% increase over prior rents on a same-store basis;

— Completed and leased $35.8 million of development projects year-to-date with an incremental NOI yield on cost of approximately 9.7%; and

— Achieved an occupancy rate of 95.1% in the core shopping center portfolio at September 30, 2006 versus 95.0% at June 30, 2006 and 93.7% at September 30, 2005.

Third Quarter 2006 Investment and Financing Activities

— Acquired four retail centers and two outparcels for aggregate consideration of $60.4 million;

— Issued $125.0 million principal amount of 6.25% senior unsecured notes maturing January 2017;

— Purchased 612,700 shares of our common stock for total consideration of $14.7 million representing an average price of $24.06; and

— Prepaid our $75.0 million 7.25% senior notes due August 2007, realizing a $1.7 million benefit on the associated unamortized debt premium, offset by a make-whole payment of $1.2 million, resulting in a gain of approximately $457,000.

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“The third quarter of 2006 represents a significant turning point in the development of Equity One,” stated Chaim Katzman, Chairman and Chief Executive Officer of Equity One. “We note with appreciation and a bit of sadness, the departure of two key executives, Doron Valero, our President and Chief Operating Officer, and Howard Sipzner, our Executive Vice President and Chief Financial Officer, both of whom were instrumental in the tremendous growth and success of our Company over the past fifteen years in the case of Doron and seven years for Howard. At the same time, we welcome with high anticipation Jeff Olson, our incoming President and Chief Executive Officer, and Greg Andrews, our incoming Chief Financial Officer. In connection with these changes, I will be stepping back from my day-to-day responsibilities as Chief Executive Officer but will remain as Chairman of Equity One’s board of directors. I am confident these changes will bring forth a period of continued growth and success for our Company.”

“In the two months I have been working at Equity One, I am already quite impressed by the quality of its people, properties, tenants and markets,” stated Jeff Olson, incoming Chief Executive Officer and President. “During the third quarter, we made substantial progress on our leasing and redevelopment initiatives, increasing our renewal rents by 6.1%, achieving a 22.0% increase on new leases rates on a same-space basis, increasing our core occupancy to 95.1% and producing a 3.0% gain in same store net operating income. Our average grocer generated sales of $441 per square foot last year, a 4.1% increase over the previous year. We have a particularly strong balance sheet with low leverage and limited exposure to floating rates. Looking ahead, our focus will be to maximize our internal growth and net asset value through judicious capital recycling, targeted redevelopment and development activities and a constant emphasis on leasing and tenant mix. I am extremely excited about the opportunity at Equity One.”

FINANCIAL OVERVIEW

For the three months ended September 30, 2006, FFO was $25.5 million versus $32.9 million for the comparable period in 2005. FFO per diluted share totaled $0.35 in the third quarter of 2006 versus $0.44 in the third quarter of 2005. Net income in the third quarter of 2006 was $14.1 million versus $28.0 million in the third quarter of 2005. Net income per diluted share was $0.19 for the third quarter of 2006 versus $0.37 for 2005. Total revenue in the third quarter of 2006 was $54.3 million versus $58.4 million in the third quarter of 2005.

The third quarter of 2006 reflects the full impact of the second quarter 2006 sale of an 80% interest in 29 Texas properties and the related $1.00 per share special dividend. Additionally, the third quarter of 2006 included a charge of $1.1 million of abandoned transaction costs and $2.6 million of gains on the sale of real estate, while the third quarter of 2005 had $6.1 million of gains on the sale of real estate as well as $5.2 million of gains attributable to the sale of certain securities.

For the nine months ended September 30, 2006, FFO was $90.2 million versus $95.9 million for the comparable period in 2005. FFO per diluted share totaled $1.20 for the nine months ended September 30, 2006 versus $1.28 for the comparable period in 2005. Net income for the nine months ended September 30, 2006 was $147.8 million versus $75.0 million for the comparable period in 2005. Net income per diluted share was $1.97 for the third quarter of 2006 versus $1.00 for the comparable period in 2005. Total revenue for the nine months ended September 30, 2006 was $174.6 million versus $176.7 million for the comparable period of 2005.

The nine months ended September 30, 2006 reflect the second quarter 2006 sale of an 80% interest in 29 Texas properties and the related $1.00 per share special dividend, while the comparable period of 2005 reflects the operating results in continuing operations for the entire period. Additionally, the nine months ended September 30, 2006 included $101.4 million of gains on the sale of real estate, while the corresponding period in 2005 had $11.5 million of gains on the sale of real estate. Also, the nine months ended September 30, 2006 had a $1.0 million expense related to the termination of existing leases and a $1.8 million loss on extinguishment of debt, while the corresponding period in 2005 did not have these expenses. Lastly, the nine months ended September 30, 2006, had $4.3 million of dividend income from our investment in DIM Vastgoed, while the corresponding period in 2005 had no DIM Vastgoed dividend income, but had $5.1 million of gains on the sale of certain securities.

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At September 30, 2006, our fully diluted total market capitalization equaled $2.74 billion, comprising 73.5 million shares of common stock, valued at $1.76 billion, and $980.4 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 35.8% and our ratio of net debt to gross real estate and securities investments was 48.5%.

PORTFOLIO OVERVIEW

As of September 30, 2006, the Company owned a total of 201 properties (including 29 in an unconsolidated joint venture) encompassing 129 supermarket-anchored shopping centers, five drug store-anchored shopping centers, 56 other retail-anchored shopping centers, four development parcels and seven non-retail properties. As of September 30, 2006, our core shopping center portfolio was 95.1% occupied, and featured an average base rent of $10.84 per leased square foot.

During the third quarter of 2006, we renewed 114 leases aggregating 380,667 square feet and increased the average rental rate 6.1% to $11.52 per square foot. We also signed 82 new leases aggregating 414,193 square feet at an average rental rate of $11.53 per square foot, a 22.0% increase over prior rents on a same-store basis. As a result of these activities, we achieved net absorption of 187,677 square feet and added approximately $2.6 million of annualized minimum rent in the third quarter of 2006.

Excluding lease termination revenues, our same property net operating income increased 3.0% for the quarter ended September 30, 2006 compared to the quarter ended September 30, 2005, comprising 139 properties for which the occupancy rate was 95.1% compared to 94.9%. For the nine months ended September 30, 2006, our same property net operating income increased 3.1% compared to the nine months ended September 30, 2005, comprising 137 properties for which the occupancy rate was 95.1% compared to 94.9%.

ACQUISITIONS AND DISPOSITIONS

During the three months ended September 30, 2006, we acquired $60.4 million of properties comprising Milestone Plaza, Shoppes at Quail Roost and Coral Reef Shopping Center, as well as outparcels at our Pointe Royale and Westport shopping centers. In 2006 overall, we have acquired the following properties:

Property	Location		Square Feet/ Acres		Purchase Price (000’s)
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
Chestnut Square outparcel		Brevard, NC		1,070		475
Sunpoint		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
Milestone Plaza		Greenville, SC		93,655		20,200
Shoppes at Quail Roost		Miami, FL		73,550		15,435
Coral Reef Shopping Center		Palmetto Bay, FL		74,680		21,200
Pointe Royale outparcel		Miami, FL		6,897		1,350
Westport outparcels (2)		Davie, FL		9,768		2,200
Total acquisitions					$	198,348

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During 2006, we have disposed of the following depreciable 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 depreciable properties					$	389,509	$	93,196

In addition, during 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 land 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
Crossroads (Lowe’s)		Pembroke Pines, FL		177,929		7,678		2,168
Rivergreen land parcel		Canton, GA		2.0 acres		1,500		396
Total sales of non-depreciable properties						29,999		9,815
Total sales of all properties					$	419,508	$	103,011

*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 September 30, 2006, we had various development and redevelopment projects underway or in the planning stage totaling approximately $122.2 million of asset value, which based on current plans and estimates, are expected to require $22.8 million of additional capital to complete beyond the $99.3 million already invested. These include:

— Two Publix supermarket-anchored shopping centers in McDonough, Georgia and Huntsville, Alabama, which are substantially complete with the remaining space undergoing lease-up;

— Belfair Towne Village in Bluffton, South Carolina where we added 41,250 square feet to the existing center, including a 33,000 square foot Steinmart which opened in October 2006, and are currently leasing the remaining 8,250 square feet of space;

— St. Lucie West Plaza, adjacent to our Cashmere Corners property in Port St. Lucie, Florida, where we added 19,361 square feet of retail shops and are currently leasing the balance of the space;

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· Bluebonnet Village in Baton Rouge, Louisiana, where we added 10,750 square feet of retail space to the existing center and are currently leasing the balance of the space;

— South Beach in Jacksonville Beach, Florida, where we completed a partial redevelopment and released the former Food Lion space to Bed Bath & Beyond;

— Brookside Plaza in Enfield, Connecticut, where we are doing a partial redevelopment of the center and released the former Marshall’s space to Bed Bath & Beyond;

— Chestnut Square in Brevard, North Carolina, where we are reconfiguring the existing center and adding a Walgreen’s; and

— Hunters Creek in Orlando, Florida, where we reconfigured the former Winn Dixie space into an Office Depot and a Lifestyle Fitness.

These developments and redevelopments are scheduled for completion beginning in the fourth quarter of 2006. During the nine months ended September 30, 2006, we completed and leased a total of $35.8 million of development and redevelopment projects resulting in incremental net operating income of approximately $3.5 million on an annualized basis.

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 full year 2006 FFO per diluted share of between $1.54 and $1.58. 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	$	2.16		to	$	2.19
Less:gains on sale of real estate		(1.24	)			(1.24	)
Plus:real estate depreciation		0.62		to		0.63
FFO per diluted share	$	1.54		to	$	1.58

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.

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.”

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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.

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, November 1, 2006, at 1:00 p.m. EST to review our performance for the third quarter 2006. Investors may join the call by dialing 866-272-9941 (U.S./Canada) or 617-213-8895 (international) using pass code 63572398. 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 81850659. The telephone replay will be available through November 8, 2006.

FOR ADDITIONAL INFORMATION

For a copy of our third 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 - FOURTH QUARTER CONFERENCE CALL

We anticipate that we will release our 2006 year-end earnings on February 20, 2007, after the market close and will host our fourth quarter 2006 conference call on February 21, 2007, at 1:00 p.m. EST. 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..

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EQUITY ONE, INC.

UNAUDITED SUMMARY FINANCIAL INFORMATION

(In thousands, except per share data)

	For the three months ended September 30,				For the nine months ended September 30,
	2006		2005		2006		2005
Total Revenues	$	54,292	$	58,411	$	174,587	$	176,720
Net Income	$	14,120	$	28,041	$	147,832	$	74,974
Earnings per share (basic)	$	0.19	$	0.38	$	1.99	$	1.02
Earnings per share (diluted)	$	0.19	$	0.37	$	1.97	$	1.00
Number of shares used in computing earnings per share
Basic		73,152		74,087		74,207		73,592
Diluted		73,893		75,144		74,944		74,637

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 September 30,					For the nine months ended September 30,
	2006		2005			2006			2005
Net income	$	14,120	$	28,041		$	147,832		$	74,974
Adjustments
Rental property depreciation and amortization		10,629		10,924			34,161			32,308
Gain on sale of depreciable real estate		-		(6,088	)		(93,196	)		(11,460	)
Pro rata share of real estate depreciation from unconsolidated joint venture		736		-			1,244			-
Minority interest		28		27			178			82
Funds from operations	$	25,513	$	32,904		$	90,219		$	95,904

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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 September 30,					For the nine months ended September 30,
	2006		2005			2006			2005
Earnings per diluted share *	$	0.19	$	0.37		$	1.97		$	1.00
Adjustments
Rental property depreciation and amortization		0.15		0.15			0.45			0.43
Gain on sale of depreciable real estate		-		(0.08	)		(1.24	)		(0.15	)
Pro rata share of real estate depreciation from unconsolidated joint venture		0.01		-			0.02			-
Funds from operations	$	0.35	$	0.44		$	1.20		$	1.28

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

Balance Sheet Data	September 30, 2006		December 31, 2005
Investments in real estate
(before accumulated depreciation)	$	1,940,183	$	2,007,536
Total assets	$	1,996,541	$	2,052,033
Mortgage notes payable	$	364,487	$	446,925
Unsecured revolving credit facilities	$	44,000	$	93,165
Unsecured senior notes payable	$	590,479	$	465,404
Total liabilities before minority interests	$	1,077,982	$	1,077,879
Stockholders’ equity	$	917,570	$	972,729
Total liabilities and stockholders’ equity	$	1,996,541	$	2,052,033

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EX-99.2

Equity One, Inc.

Supplemental Information Package

September 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
September 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 SHEETS	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 September 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 September 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 September 30, 2006

(in thousands, except per share data) 

	For the three months ended						For the nine months ended						For the year ended
	Sep 30, 2006			Sep 30, 2005			Sep 30, 2006			Sep 30, 2005			Dec 31, 2005
Selected Operating Items:
Total rental revenue*	$	57,675		$	62,156		$	185,328		$	189,915		$	255,248
Property operating expenses*		15,806			16,287			50,806			48,094			67,260
General & administrative expenses (G&A)*		6,591			4,232			15,872			12,942			17,281
Net income	$	14,120		$	28,041		$	147,832		$	74,974		$	92,741
Net income per diluted share		0.19			0.37			1.97			1.00			1.24
Income from continuing operations	$	10,211		$	19,784		$	133,424		$	55,798		$	71,068
Income from continuing operations per diluted share		0.14			0.26			1.78			0.74			0.95
Funds from operations (FFO)	$	25,513		$	32,904		$	90,219		$	95,904		$	124,836
FFO per diluted share		0.35			0.44			1.20			1.28			1.67
Funds available for distribution before debt payments (FAD)	$	19,786		$	28,145		$	75,029		$	81,890		$	104,251
FAD per diluted share		0.27			0.37			1.00			1.10			1.39
Total dividends paid per share (1)	$	0.30		$	0.29		$	1.90		$	0.87		$	1.17
Operating Ratios:
Net operating income margin (see page 7)*		72.2	%		73.7	%		72.4	%		74.6	%		73.6	%
Expense recovery ratio (expense recoveries/operating expenses)*		76.0	%		78.7	%		81.0	%		82.3	%		81.8	%
Consolidated EBITDA margin (see page 6)*		62.0	%		69.9	%		64.6	%		69.2	%		68.0	%
Consolidated EBITDA to interest coverage ratio*		2.8			3.4			3.1			3.5			3.4
G&A as % of total revenues*		11.2	%		6.2	%		8.0	%		6.6	%		6.6	%
G&A as % of total assets (annualized)		1.32	%		0.84	%		1.06	%		0.86	%		0.84	%
Dividend / FFO payout ratio (1)		85.7	%		65.9	%		75.0	%		68.0	%		70.1	%
FFO multiple (annualized if < 12 months)		17.1			13.2			15.0			13.6			13.8
Dividend / FAD payout ratio (1)		111.1	%		78.4	%		90.0	%		79.1	%		84.2	%
FAD multiple (annualized if < 12 months)		22.2			15.7			18.0			15.9			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 September 30, 2006

(in thousands, except per share data)

							As of
	Sep 30, 2006			Jun 30, 2006			Mar 31, 2006			Dec 31, 2005			Sep 30, 2005			Jun 30, 2005			Mar 31, 2005
Fixed rate debt	$	859,487		$	811,699		$	928,108		$	816,925		$	819,564		$	704,203		$	738,817
Fixed rate debt - swapped to variable rate		95,479			93,999			94,052			95,404			95,514			97,310			95,165
Variable rate debt - unhedged		44,000			47,000			115,000			93,165			39,000			184,161			144,763
Total debt*	$	998,966		$	952,698		$	1,137,160		$	1,005,494		$	954,078		$	985,674		$	978,745
% Fixed rate debt		86.04	%		85.20	%		81.62	%		81.25	%		85.90	%		71.44	%		75.49	%
% Fixed rate debt - swapped to variable rate		9.56	%		9.87	%		8.27	%		9.49	%		10.01	%		9.87	%		9.72	%
% Variable rate debt - unhedged		4.40	%		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	%		100.00	%
% Variable rate debt - total		13.96	%		14.80	%		18.38	%		18.75	%		14.10	%		28.56	%		24.51	%
Secured mortgage debt	$	364,487		$	366,699		$	433,108		$	446,925		$	449,546		$	454,203		$	488,817
Unsecured debt		634,479			585,999			704,052			558,569			504,532			531,471			489,928
Total debt*	$	998,966		$	952,698		$	1,137,160		$	1,005,494		$	954,078		$	985,674		$	978,745
% Secured mortgage debt		36.49	%		38.49	%		38.09	%		44.45	%		47.12	%		46.08	%		49.94	%
% Unsecured debt		63.51	%		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	%		100.00	%
Total market capitalization (from page 8)	$	2,741,436		$	2,449,256		$	3,005,198		$	2,757,987		$	2,707,115		$	2,690,123		$	2,515,416
% Secured mortgage debt		13.30	%		14.97	%		14.41	%		16.20	%		16.61	%		16.88	%		19.43	%
% Unsecured debt		23.14	%		23.93	%		23.43	%		20.25	%		18.64	%		19.76	%		19.48	%
Total debt : Total market capitalization		36.44	%		38.90	%		37.84	%		36.45	%		35.24	%		36.64	%		38.91	%
Weighted-average interest rate on secured mortgage debt		7.29	%		7.30	%		7.30	%		7.19	%		7.24	%		7.24	%		7.26	%
Weighted-average interest rate on senior unsecured notes**		5.65	%		5.49	%		5.49	%		5.20	%		5.42	%		5.08	%		5.10	%
Weighted-average interest rate on revolving credit facilities		5.64	%		5.69	%		5.14	%		4.68	%		4.15	%		3.69	%		3.19	%
Weighted-average maturity on mortgage debt		5.4 years			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		7.9 years			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 September 30, 2006

(in thousands, except per share data)

	For the three months ended						For the nine months ended						For the year ended
	Sep 30, 2006			Sep 30, 2005			Sep 30, 2006			Sep 30, 2005			Dec 31, 2005
Net income	$	14,120		$	28,041		$	147,832		$	74,974		$	92,741
Rental property depreciation and amortization*		10,629			10,926			34,161			32,308			43,445
Other depreciation and amortization		184			159			526			414			577
Interest expense*		13,229			13,889			41,210			39,170			51,983
Amortization of deferred financing fees*		383			372			1,114			1,120			1,512
Minority interest*		28			48			178			144			188
Gain on disposal of income producing property		(2,168	)		(6,088	)		(95,364	)		(11,460	)		(11,460	)
Equity in income of unconsolidated joint ventures		130			-			(1,525	)		-			-
Consolidated EBITDA*	$	36,535		$	47,347		$	128,132		$	136,670		$	178,986
Consolidated Interest expense*	$	13,229		$	13,889		$	41,210		$	39,170		$	51,983
Consolidated EBITDA : interest coverage ratio*		2.8			3.4			3.1			3.5			3.4
Revenue
Total rental revenue*	$	57,675		$	62,156		$	185,328		$	189,915		$	255,248
Investment income		830			5,593			6,595			7,516			7,941
Sale of non income producing real estate		396			-			5,997			-			-
Other income		-			-			389			(1	)		(9	)
Total revenue*	$	58,901		$	67,749		$	198,309		$	197,430		$	263,180
Consolidated EBITDA margin (EBITDA/total revenue)*		62.0	%		69.9	%		64.6	%		69.2	%		68.0	%
Consolidated EBITDA*	$	36,535		$	47,347		$	128,132		$	136,670		$	178,986
Unconsolidated venture EBITDA (pro-rata share)		1,609			-			4,448			-			-
Total EBITDA	$	38,144		$	47,347		$	132,580		$	136,670		$	178,986
Total market capitalization (see page 8)	$	2,741,436		$	2,707,115		$	2,741,436		$	2,707,115		$	2,757,987
Total market capitalization to Total EBITDA multiple*		18.0			14.3			15.5			14.9			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 September 30, 2006

(in thousands, except per share data)

	For the three months ended						Percent			For the nine months ended						Percent
	Sep 30, 2006			Sep 30, 2005			Change			Sep 30, 2006			Sep 30, 2005			Change
Consolidated net operating income (1)
Total rental revenue	$	56,930		$	62,023			(8.2	%)	$	183,987		$	189,590			(3.0	%)
Property operating expenses (2)		15,806			16,287			(3.0	%)		50,806			48,094			5.6	%
Consolidated net operating income	$	41,124		$	45,736			(10.1	%)	$	133,181		$	141,496			(5.9	%)
Consolidated NOI margin (NOI/total rental revenue)		72.2	%		73.7	%					72.4	%		74.6	%
Consolidated net operating income	$	41,124		$	45,736			(10.1	%)	$	133,181		$	141,496			(5.9	%)
Unconsolidated net operating income (pro-rata share)		1,482			-			N/A			2,582			-			N/A
Total net operating income	$	42,606		$	45,736			(6.8	%)	$	135,763		$	141,496			(4.1	%)
Consolidated same property NOI (3)
Total rental revenue	$	49,486		$	47,043			5.2	%	$	148,294		$	140,456			5.6	%
Property operating expenses		14,413			12,979			11.0	%		42,310			37,632			12.4	%
Net operating income	$	35,073		$	34,064			3.0	%	$	105,984		$	102,824			3.1	%
Growth in same property NOI		3.0	%								3.1	%
Number of properties included in analysis		139									137
Same property occupancy		95.1	%		94.9	%					95.1	%		94.9	%

(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, lease termination fees and prior year expense recoveries and adjustments, if any.

Page 7

EQUITY ONE, INC. AND SUBSIDIARIES

MARKET CAPITALIZATION - QUARTERLY BREAKOUT

As of September 30, 2006

(in thousands, except per share data) 

	Sep 30, 2006			Jun 30, 2006			Mar 31, 2006			Dec 31, 2005			Sep 30, 2005			Jun 30, 2005			Mar 31, 2005
Closing market price of common stock	$	23.97		$	20.90		$	24.56		$	23.12		$	23.25		$	22.70		$	20.59
Dividend yield (based on current annualized dividend) (1)		5.01	%		5.74	%		4.89	%		5.19	%		4.99	%		5.11	%		5.63	%
Dividends paid per share (1)	$	0.30		$	1.30		$	0.30		$	0.30		$	0.29		$	0.29		$	0.29
Net book value per share (fully diluted, end of period)	$	12.49		$	12.75		$	12.84		$	12.83		$	12.83		$	12.73		$	12.64
Liquidity
Cash and cash equivalents (includes cash held in escrow)	$	18,560		$	47,884		$	2,216		$	102		$	3,308		$	-		$	-
Revolving credit facilities
Gross potential available under current credit facilities	$	280,000		$	280,000		$	280,000		$	345,000		$	345,000		$	345,000		$	345,000
less:Outstanding balance		(44,000	)		(47,000	)		(115,000	)		(93,165	)		(39,000	)		(179,387	)		(144,763	)
Holdback for letters of credit		(5,943	)		(5,896	)		(1,371	)		(1,283	)		(1,283	)		(1,283	)		(1,289	)
Net potential available under credit facilities	$	230,057		$	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		72,673.863			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		460.067			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			93.656
Common stock options (treasury method, closing price)		240.482			165.612			305.327			301.217			399.136			379.914			400.907
Fully diluted common shares		73,468.068			73,896.743			76,150.409			75,804.302			75,541.701			75,085.854			74,631.903
Total debt (excluding unamortized premium/discount)	$	998,966		$	952,698		$	1,137,160		$	1,005,494		$	954,078		$	985,674		$	978,745
Cash and cash equivalents (includes cash held in escrow)		(18,560	)		(47,884	)		(2,216	)		(102	)		(3,308	)		-			-
Net debt		980,406			904,814			1,134,944			1,005,392			950,770			985,674			978,745
Equity market capitalization (fully diluted, end of period)		1,761,030			1,544,442			1,870,254			1,752,595			1,756,345			1,704,449			1,536,671
Total market capitalization	$	2,741,436		$	2,449,256		$	3,005,198		$	2,757,987		$	2,707,115		$	2,690,123		$	2,515,416
Net debt to total market capitalization		35.8	%		36.9	%		37.8	%		36.5	%		35.1	%		36.6	%		38.9	%
Gross real estate and securities investments	$	2,020,902		$	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		48.5	%		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 September 30, 2006

(in thousands, except per share data)

	For the three months ended						Percent			For the nine months ended						Percent
	Sep 30, 2006			Sep 30, 2005			Change			Sep 30, 2006			Sep 30, 2005			Change
Revenue:
Minimum rents	$	41,539		$	45,167					$	131,390		$	134,232
Expense recoveries		11,451			12,218						39,285			37,438
Lease termination fees		269			824						950			3,314
Percentage rent		288			69						1,621			1,411
Property management and leasing services		745			133						1,341			325
Total revenue		54,292			58,411			-7.1	%		174,587			176,720			-1.2	%
Costs and expenses:
Property operating		14,933			15,568						48,689			45,585
Lease termination		-			-						953			-
Property management and leasing services		610			42						1,173			138
Rental property depreciation and amortization		9,928			10,153						31,952			29,922
General and administrative		6,591			4,232						15,872			12,942
Total costs and expenses		32,062			29,995			6.9	%		98,639			88,587			11.3	%
Income before other income and expenses, minority interest and discontinued operations		22,230			28,416						75,948			88,133
Other income and expenses:
Interest expense		(13,161	)		(13,805	)					(41,005	)		(38,586	)
Amortization of deferred financing fees		(383	)		(372	)					(1,114	)		(1,120	)
Investment income		830			5,593						6,595			7,516
Equity in income (loss) from unconsolidated joint ventures		(130	)		-						1,525			-
Gain on sale of real estate		396			-						93,077			-
Gain (loss) on extinguishment of debt		457			-						(1,813	)		-
Other income (loss)		-			-						389			(1	)
Income before minority interest and discontinued operations		10,239			19,832						133,602			55,942
Minority interest		(28	)		(48	)					(178	)		(144	)
Income from continuing operations		10,211			19,784			-48.4	%		133,424			55,798			139.1	%
Discontinued operations:
Operations of income producing properties sold or held for sale		1,741			2,169						6,124			7,716
Gain on disposal of income producing properties		2,168			6,088						8,284			11,460
Income from discontinued operations		3,909			8,257						14,408			19,176
Net income	$	14,120		$	28,041			-49.6	%	$	147,832		$	74,974			97.2	%
Basic earnings per share
Income from continuing operations	$	0.14		$	0.27			-48.1	%	$	1.80		$	0.76			136.8	%
Income from discontinued operations		0.05			0.11						0.19			0.26
Net income	$	0.19		$	0.38			-50.0	%	$	1.99		$	1.02			95.1	%
Diluted earnings per share
Income from continuing operations	$	0.14		$	0.26			-46.2	%	$	1.78		$	0.74			140.5	%
Income from discontinued operations		0.05			0.11						0.19			0.26
Net income	$	0.19		$	0.37			-48.6	%	$	1.97		$	1.00			97.0	%
Weighted average shares outstanding
Basic		73,152			74,087						74,207			73,592
Diluted		73,893			75,144						74,944			74,637

Page 9

EQUITY ONE, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS - QUARTERLY BREAKOUT

For the quarter ended September 30, 2006

(in thousands, except per share data)

	For the three months ended
	Sep 30, 2006			Jun 30, 2006			Mar 31, 2006			Dec 31, 2005			Sep 30, 2005			Jun 30, 2005			Mar 31, 2005
Revenue:
Minimum rents	$	41,539		$	42,802		$	47,049		$	45,654		$	45,167		$	44,711		$	44,354
Expense recoveries		11,451			13,261			14,573			14,880			12,218			13,106			12,114
Lease termination fees		269			389			292			451			824			2,322			168
Percentage rent		288			159			1,174			151			69			327			1,015
Property management and leasing services		745			441			155			182			133			128			64
Total revenue		54,292			57,052			63,243			61,318			58,411			60,594			57,715
Costs and expenses:
Property operating		14,933			16,517			17,239			18,477			15,568			15,183			14,833
Lease termination		-			598			355			-			-			-			-
Property management and leasing services		610			486			77			91			42			74			22
Rental property depreciation and amortization		9,928			10,737			11,287			10,377			10,153			10,128			9,643
General and administrative		6,591			4,665			4,616			4,339			4,232			4,370			4,340
Total costs and expenses		32,062			33,003			33,574			33,284			29,995			29,755			28,838
Income before other income and expenses, minority interest and discontinued operations		22,230			24,049			29,669			28,034			28,416			30,839			28,877
Other income and expenses:
Interest expense		(13,161	)		(13,109	)		(14,735	)		(12,744	)		(13,805	)		(12,929	)		(11,852	)
Amortization of deferred financing fees		(383	)		(376	)		(355	)		(391	)		(372	)		(370	)		(379	)
Investment income		830			1,113			4,652			424			5,593			1,215			709
Equity in income (loss) from unconsolidated joint venture		(130	)		1,655			-			-			-			-			-
Gain on sale of real estate		396			92,367			314			-			-			-			-
Gain (loss) on extinguishment of debt		457			(1,978	)		(292	)		-			-			-			-
Other income (loss)		-			39			350			(9	)		-			-			-
Income before minority interest and discontinued operations		10,239			103,760			19,603			15,314			19,832			18,755			17,355
Minority interest		(28	)		(122	)		(28	)		(44	)		(48	)		(46	)		(50	)
Income from continuing operations		10,211			103,638			19,575			15,270			19,784			18,709			17,305
Discontinued operations:
Operations of income producing properties sold or held for sale		1,741			2,085			2,298			2,497			2,169			2,677			2,870
Gain on disposal of income producing properties		2,168			5,624			492			-			6,088			3,757			1,615
Income from discontinued operations		3,909			7,709			2,790			2,497			8,257			6,434			4,485
Net income	$	14,120		$	111,347		$	22,365		$	17,767		$	28,041		$	25,143		$	21,790
Basic earnings per share
Income from continuing operations	$	0.14		$	1.40		$	0.26		$	0.21		$	0.27		$	0.25		$	0.24
Income from discontinued operations		0.05			0.10			0.04			0.03			0.11			0.09			0.06
Net income	$	0.19		$	1.50		$	0.30		$	0.24		$	0.38		$	0.34		$	0.30
Diluted earnings per share
Income from continuing operations	$	0.14		$	1.39		$	0.26		$	0.21		$	0.26		$	0.25		$	0.23
Income from discontinued operations		0.05			0.10			0.03			0.03			0.11			0.09			0.06
Net income	$	0.19		$	1.49		$	0.29		$	0.24		$	0.37		$	0.34		$	0.29
Weighted average shares outstanding
Basic		73,152			74,359			75,151			74,574			74,087			73,636			73,043
Diluted		73,893			75,071			75,978			75,501			75,144			74,656			74,193

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

Page 10

EQUITY ONE, INC. AND SUBSIDIARIES

PRO FORMA FINANCIAL INFORMATION FOR DISCONTINUED OPERATIONS

For the quarter ended September 30, 2006

(in thousands, except per share data)

	For the three months ended															For the nine months ended
	Sep 30, 2006															Sep 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	$	41,539		$	2,651		$	2,580		$	71		$	44,190		$	131,390		$	8,402		$	7,529		$	873		$	139,792
Expense recoveries		11,451			568			494			74			12,019			39,285			1,880			1,685			195			41,165
Lease termination fees		269			134			134			-			403			950			282			282			-			1,232
Percentage rent		288			30			30			-			318			1,621			177			177			-			1,798
Property management and leasing services		745			-			-			-			745			1,341			-			-			-			1,341
Total revenue		54,292			3,383			3,238			145			57,675			174,587			10,741			9,673			1,068			185,328
Costs and expenses:
Property operating		14,933			873			856			17			15,806			48,689			2,117			2,008			109			50,806
Lease termination		-			-			-			-			-			953			-			-			-			953
Property management and leasing services		610			-			-			-			610			1,173			-			-			-			1,173
Rental property depreciation and amortization		9,928			701			701			-			10,629			31,952			2,209			2,121			88			34,161
General and administrative		6,591			-			-			-			6,591			15,872			-			-			-			15,872
Total costs and expenses		32,062			1,574			1,557			17			33,636			98,639			4,326			4,129			197			102,965
Income before other income and expenses, minority interest and discontinued operations		22,230			1,809			1,681			128			24,039			75,948			6,415			5,544			871			82,363
Other income and expenses:
Interest expense		(13,161	)		(68	)		(68	)		-			(13,229	)		(41,005	)		(205	)		(205	)		-			(41,210	)
Amortization of deferred financing fees		(383	)		-			-			-			(383	)		(1,114	)		-			-			-			(1,114	)
Investment income		830			-			-			-			830			6,595			-			-			-			6,595
Equity in income (loss) of unconsolidated joint venture		(130	)		-			-			-			(130	)		1,525			-			-			-			1,525
Gain on sale of real estate		396			-			-			-			396			93,077			-			-			-			93,077
Gain (loss) on extinguishment of debt		457			-			-			-			457			(1,813	)		-			-			-			(1,813	)
Other income (loss)		-			-			-			-			-			389			(86	)		-			(86	)		303
Income before minority interest and discontinued operations		10,239			1,741			1,613			128			11,980			133,602			6,124			5,339			785			139,726
Minority interest		(28	)		-			-			-			(28	)		(178	)		-			-			-			(178	)
Income from continuing operations		10,211			1,741			1,613			128			11,952			133,424			6,124			5,339			785			139,548
Discontinued operations:
Operations of income producing properties sold or held for sale		1,741			(1,741	)		(1,613	)		(128	)		-			6,124			(6,124	)		(5,339	)		(785	)		-
Gain on disposal of income producing properties		2,168			-			-			-			2,168			8,284			-			-			-			8,284
Income from discontinued operations		3,909			(1,741	)		(1,613	)		(128	)		2,168			14,408			(6,124	)		(5,339	)		(785	)		8,284
Net income	$	14,120		$	-		$	-		$	-		$	14,120		$	147,832		$	-		$	-		$	-		$	147,832

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 September 30, 2006

(in thousands, except per share data)

	For the three months ended															For the nine months ended
	Sep 30, 2005															Sep 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	$	45,167		$	3,080		$	2,444		$	636		$	48,247		$	134,232		$	10,166		$	7,378		$	2,788		$	144,398
Expense recoveries		12,218			605			531			74			12,823			37,438			2,154			1,581			573			39,592
Lease termination fees		824			20			12			8			844			3,314			710			639			71			4,024
Percentage rent		69			40			40			-			109			1,411			165			161			4			1,576
Property management and leasing services		133			-			-			-			133			325			-			-			-			325
Total revenue		58,411			3,745			3,027			718			62,156			176,720			13,195			9,759			3,436			189,915
Costs and expenses:
Property operating		15,568			719			534			185			16,287			45,585			2,509			1,628			881			48,094
Property management and leasing services		42			-			-			-			42			138			-			-			-			138
Rental property depreciation and amortization		10,153			773			674			99			10,926			29,922			2,386			1,929			457			32,308
General and administrative		4,232			-			-			-			4,232			12,942			-			-			-			12,942
Total costs and expenses		29,995			1,492			1,208			284			31,487			88,587			4,895			3,557			1,338			93,482
Income before other income and expenses, minority interest and discontinued operations		28,416			2,253			1,819			434			30,669			88,133			8,300			6,202			2,098			96,433
Other income and expenses:
Interest expense		(13,805	)		(84	)		(69	)		(15	)		(13,889	)		(38,586	)		(584	)		(351	)		(233	)		(39,170	)
Amortization of deferred financing fees		(372	)		-			-			-			(372	)		(1,120	)		-			-			-			(1,120	)
Investment income		5,593			-			-			-			5,593			7,516			-			-			-			7,516
Other income (loss)		-			-			-			-			-			(1	)		-			-			-			(1	)
Income before minority interest and discontinued operations		19,832			2,169			1,750			419			22,001			55,942			7,716			5,851			1,865			63,658
Minority interest		(48	)		-			-			-			(48	)		(144	)		-			-			-			(144	)
Income from continuing operations		19,784			2,169			1,750			419			21,953			55,798			7,716			5,851			1,865			63,514
Discontinued operations:
Operations of income producing properties sold or held for sale		2,169			(2,169	)		(1,750	)		(419	)		-			7,716			(7,716	)		(5,851	)		(1,865	)		-
Gain on disposal of income producing properties		6,088			-			-			-			6,088			11,460			-			-			-			11,460
Income from discontinued operations		8,257			(2,169	)		(1,750	)		(419	)		6,088			19,176			(7,716	)		(5,851	)		(1,865	)		11,460
Net income	$	28,041		$	-		$	-		$	-		$	28,041		$	74,974		$	-		$	-		$	-		$	74,974

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 September 30, 2006

(in thousands, except per share data)

	For the three months ended					For the nine months ended
	Sep 30, 2006			Sep 30, 2005		Sep 30, 2006			Sep 30, 2005
Rental revenue:
Minimum rents	$	7,991		$	-	$	13,986		$	-
Expense recoveries		2,523			-		4,145			-
Lease termination revenue		5			-		33			-
Percentage rent		1			-		1			-
Total rental revenue		10,520			-		18,165			-
Costs and expenses:
Property operating		3,110			-		5,256			-
Rental property depreciation and amortization		4,875					8,203
Total costs and expenses		7,985			-		13,459			-
Income before other income and expenses, minority interest and discontinued operations		2,535			-		4,706			-
Other income and expenses:
Interest expense		(4,882	)		-		(8,179	)		-
Amortization of deferred financing fees		(133	)		-		(220	)		-
Investment income		126			-		200			-
Gain on sale of real estate		-					3,300
Income before minority interest and discontinued operations		(2,354	)		-		(193	)		-
Minority interest		-			-		-			-
Income from continuing operations		(2,354	)		-		(193	)		-
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	$	(2,354	)	$	-	$	(193	)	$	-

Notes: 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 September 30, 2006

(in thousands, except per share data)

	For the three months ended						For the nine months ended						For the year ended
	Sep 30, 2006			Sep 30, 2005			Sep 30, 2006			Sep 30, 2005			Dec 31, 2005
Net income	$	14,120		$	28,041		$	147,832		$	74,974		$	92,741
Adjustments:
Rental property depreciation and amortization, including discontinued operations		10,629			10,924			34,161			32,308			43,445
Gain on disposal of depreciable real estate		-			(6,088	)		(93,196	)		(11,460	)		(11,460	)
Pro rata share of real estate depreciation from unconsolidated joint venture		736			-			1,244			-			-
Minority interest		28			27			178			82			110
Funds from operations	$	25,513		$	32,904		$	90,219		$	95,904		$	124,836
Increase		-22.5	%					-5.9	%
Earnings per diluted share*	$	0.19		$	0.37		$	1.97		$	1.00		$	1.24
Adjustments:
Rental property depreciation and amortization, including discontinued operations		0.15			0.15		$	0.45			0.43			0.58
Gain on disposal of depreciable real estate		-			(0.08	)	$	(1.24	)		(0.15	)		(0.15	)
Pro rata share of real estate depreciation from unconsolidated joint venture		0.01			-		$	0.02			-			-
Funds from operations per diluted share	$	0.35		$	0.44		$	1.20		$	1.28		$	1.67
Increase		-20.5	%					-6.3	%
Weighted average diluted shares		73,893			75,144			74,944			74,637			74,790

*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 September 30, 2006

(in thousands, except per share data)

	For the three months ended
	Sep 30, 2006			Jun 30, 2006			Mar 31, 2006			Dec 31, 2005			Sep 30, 2005			Jun 30, 2005			Mar 31, 2005
Net income	$	14,120		$	111,347		$	22,365		$	17,767		$	28,041		$	25,143		$	21,790
Adjustments:
Rental property depreciation and amortization, including discontinued operations		10,629			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		736			508			-			-			-			-			-
Minority interest		28			122			28			28			27			27			28
Funds from operations	$	25,513		$	30,766		$	33,940		$	28,932		$	32,904		$	32,351		$	30,649
Sequential increase (decrease)		(17.1	%)		(9.4	%)		17.3	%		(12.1	%)		1.7	%		5.6	%
Earnings per diluted share*	$	0.19		$	1.49		$	0.29		$	0.24		$	0.37		$	0.34		$	0.29
Adjustments:
Rental property depreciation and amortization, including discontinued operations		0.15			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			0.01			-			-			0.00			-			-
Funds from operations per diluted share	$	0.35		$	0.41		$	0.45		$	0.38		$	0.44		$	0.43		$	0.41
Sequential increase (decrease)		(14.6	%)		(8.9	%)		18.4	%		(13.6	%)		2.3	%		4.9	%
Weighted average diluted shares		73,893			75,071			75,978			75,501			75,144			74,656			74,193

*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 September 30, 2006

(in thousands, except per share data)

	For the three months ended						For the nine months ended						For the year ended
	Sep 30, 2006			Sep 30, 2005			Sep 30, 2006			Sep 30, 2005			Dec 31, 2005
Funds from operations	$	25,513		$	32,904		$	90,219		$	95,904		$	124,836
Adjust for certain non-cash items:
Amortization of deferred financing fees		383			372			1,114			1,121			1,512
Amortization of above/below market rent intangibles		(637	)		(240	)		(1,933	)		(752	)		(1,006	)
Amortization of restricted stock and stock option expense		1,447			1,523			4,216			4,475			5,973
Straight line rents		(834	)		(1,157	)		(2,171	)		(3,510	)		(4,450	)
Capitalized interest		(1,673	)		(876	)		(4,349	)		(2,299	)		(3,354	)
Amortization of debt premium/discount		(2,304	)		(1,274	)		(5,383	)		(3,895	)		(5,159	)
Pro rata share of unconsolidated joint venture adjustments		(79	)		-			(144	)		-			-
Total non-cash items		(3,697	)		(1,652	)		(8,650	)		(4,860	)		(6,484	)
Adjust for recurring capital expenditures:
Tenant improvements		(864	)		(1,624	)		(2,702	)		(4,363	)		(4,935	)
Leasing commissions and costs		(702	)		(1,097	)		(2,566	)		(3,489	)		(4,583	)
Other capital expenditures		(379	)		(386	)		(1,173	)		(1,302	)		(4,583	)
Pro rata share of unconsolidated joint venture expenditures		(85	)		-			(99	)		-			-
Total recurring capital expenditures		(2,030	)		(3,107	)		(6,540	)		(9,154	)		(14,101	)
Funds available for distribution before debt payments	$	19,786		$	28,145		$	75,029		$	81,890		$	104,251
		-29.7	%					-8.4	%
Funds available for distribution per diluted share	$	0.27		$	0.37		$	1.00		$	1.10		$	1.39
Increase		-27.0	%					-9.1	%
Cash dividends (1)	$	22,125		$	21,426		$	140,728		$	64,684		$	87,272
Weighted average diluted shares		73,893			75,144			74,944			74,637			74,790

(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 September 30, 2006

(in thousands, except per share data)

	For the three months ended
	Sep 30, 2006			Jun 30, 2006			Mar 31, 2006			Dec 31, 2005			Sep 30, 2005			Jun 30, 2005			Mar 31, 2005
Funds from operations	$	25,513		$	30,766		$	33,940		$	28,932		$	32,904		$	32,351		$	30,649
Adjust for certain non-cash items:
Amortization of deferred financing fees		383			376			355			391			372			370			379
Amortization of above/below market rent intangibles		(637	)		(773	)		(523	)		(254	)		(240	)		(364	)		(148	)
Amortization of restricted stock and stock option expense		1,447			1,382			1,387			1,498			1,523			1,466			1,486
Straight line rents		(834	)		(716	)		(621	)		(940	)		(1,157	)		(1,086	)		(1,267	)
Capitalized interest		(1,673	)		(1,600	)		(1,076	)		(1,055	)		(876	)		(790	)		(633	)
Amortization of debt premium/discount		(2,304	)		(193	)		(2,886	)		(1,264	)		(1,274	)		(1,335	)		(1,286	)
Pro rate share of unconsolidated joint venture adjustments		(79	)		(65	)		-			-			-			-			-
Total non-cash items		(3,697	)		(1,589	)		(3,364	)		(1,624	)		(1,652	)		(1,739	)		(1,469	)
Adjust for recurring capital expenditures:
Tenant improvements		(864	)		(1,127	)		(711	)		(572	)		(1,624	)		(2,374	)		(365	)
Leasing commissions and costs		(702	)		(787	)		(1,077	)		(1,094	)		(1,097	)		(881	)		(1,511	)
Other capital expenditures		(379	)		(368	)		(426	)		(686	)		(386	)		(502	)		(414	)
Pro rate share of unconsolidated joint venture expenditures		(85	)		(14	)		-			-			-			-			-
Total recurring capital expenditures		(2,030	)		(2,296	)		(2,214	)		(2,352	)		(3,107	)		(3,757	)		(2,290	)
Funds available for distribution before debt payments	$	19,786		$	26,881		$	28,362		$	24,956		$	28,145		$	26,855		$	26,890
Sequential increase (decrease)		(26.4	%)		(5.2	%)		13.6	%		(11.3	%)		4.8	%		(0.1	%)
Funds available for distribution per diluted share	$	0.27		$	0.36		$	0.37		$	0.33		$	0.37		$	0.36		$	0.36
Sequential increase (decrease)		(25.0	%)		(2.7	%)		12.1	%		(10.8	%)		2.8	%		-
Cash dividends (1)	$	22,125		$	95,850		$	22,753		$	22,588		$	21,683		$	21,575		$	21,426
Weighted average diluted shares		73,893			75,071			75,978			75,501			75,144			74,656			74,193

Page 17

EQUITY ONE, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(in thousands, except per share data)

	As of
	Sep 30, 2006			Jun 30, 2006			Mar 31, 2006			Dec 31, 2005			Sep 30, 2005			Jun 30, 2005			Mar 31, 2005
Assets
Properties
Income producing	$	1,724,194		$	1,742,017		$	1,737,809		$	1,661,243		$	1,644,783		$	1,488,652		$	1,911,819
Less: accumulated depreciation		(128,266	)		(127,293	)		(119,522	)		(111,031	)		(102,620	)		(86,123	)		(104,718	)
Rental property		1,595,928			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		99,339			128,767			102,784			64,202			57,950			52,818			50,026
Property held for sale		116,650			9,827			281,579			282,091			287,099			432,936			9,199
Properties, net		1,811,917			1,753,318			2,002,650			1,896,505			1,887,212			1,888,283			1,866,326
Cash and cash equivalents		12,272			3,424			2,216			102			-			-			-
Cash held in escrow		6,288			44,460			-			-			3,308			-			-
Accounts and other receivables, net		16,444			14,207			19,139			17,600			13,978			12,643			10,204
Securities		80,719			81,074			85,336			67,588			27,601			52,303			44,593
Goodwill		11,504			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		57,397			54,123			58,949			57,940			59,233			48,060			57,446
Total	$	1,996,541		$	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	$	360,471		$	366,699		$	378,922		$	392,480		$	391,801		$	389,907		$	488,817
Mortgage notes payable related to properties held for sale		4,016			-			54,186			54,445			57,745			64,296			-
Unsecured revolving credit facilities		44,000			47,000			115,000			93,165			39,000			179,387			144,763
Unsecured senior notes payable		590,479			538,999			589,052			465,404			465,532			347,310			345,165
Payable for securities		-			-			-			-			-			4,774			-
Total debt		998,966			952,698			1,137,160			1,005,494			954,078			985,674			978,745
Unamortized premium/discount on notes payable		8,890			11,898			12,041			15,830			17,093			18,984			20,318
Total notes payable		1,007,856			964,596			1,149,201			1,021,324			971,171			1,004,658			999,063
Accounts payable and other liabilities		70,126			55,926			52,531			56,555			62,115			53,446			48,787
Total liabilities		1,077,982			1,020,522			1,201,732			1,077,879			1,033,286			1,058,104			1,047,850
Minority interest		989			989			989			1,425			1,457			1,437			1,417
Stockholders' equity		917,570			942,396			977,836			972,729			968,869			955,828			943,382
Total	$	1,996,541		$	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 BALANCE SHEETS
(in thousands, except per share data)
	As of
	Sep 30, 2006			Dec 31, 2005
Assets
Properties
Income producing	$	361,979		$	-
Less: accumulated depreciation		(2,920	)		-
Rental property		359,059			-
Land held for sale		-			1,055
Construction in progress and land held for development		15,513			-
Properties, net		374,572			1,055
Cash and cash equivalents		9,935			-
Accounts and other receivables, net		1,311			-
Other assets		14,864			-
Total	$	400,682		$	1,055
Liabilities and joint venture equity
Liabilities
Mortgage notes payable	$	312,200		$	-
Accounts payable and other liabilities		8,169			-
Total liabilities		320,369			-
Joint venture equity		80,313			1,055
Total	$	400,682		$	1,055

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

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

Page 19

EQUITY ONE, INC. AND SUBSIDIARIES
CONSOLIDATED DEBT SUMMARY
As of September 30, 2006
(in thousands)
Debt Instrument	Maturity date	Rate (1)			Sep 30, 2006 balance		Dec 31, 2005 balance		Percent of total indebtedness at Sep 30, 2006
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	%		2,969		3,031		0.29	%
Commonwealth	02/15/08		7.000	%		2,409		2,510		0.24	%
Mariners Crossing	03/01/08		7.080	%		3,238		3,280		0.32	%
Pine Island/Ridge Plaza	07/01/08		6.910	%		23,888		24,195		2.37	%
North Port Shopping Center	02/08/09		6.650	%		3,818		3,902		0.38	%
Prosperity Centre	03/01/09		7.875	%		5,305		5,624		0.53	%
Ibis Shopping Center	09/01/09		6.730	%		5,346		5,497		0.53	%
Tamarac Town Square	10/01/09		9.190	%		5,953		6,029		0.59	%
Park Promenade	02/01/10		8.100	%		6,119		6,173		0.61	%
Skipper Palms	03/01/10		8.625	%		3,466		3,493		0.34	%
Jonathan's Landing	05/01/10		8.050	%		2,803		2,832		0.28	%
Bluff's Square	06/01/10		8.740	%		9,841		9,914		0.98	%

Page 20

EQUITY ONE, INC. AND SUBSIDIARIES
CONSOLIDATED DEBT SUMMARY
As of September 30, 2006
(in thousands)
Debt Instrument	Maturity date	Rate (1)			Sep 30, 2006 balance		Dec 31, 2005 balance		Percent of total indebtedness at Sep 30, 2006
Kirkman Shoppes	06/01/10		8.740	%	$	9,293	$	9,362		0.92	%
Ross Plaza	06/01/10		8.740	%		6,481		6,529		0.64	%
Boynton Plaza	07/01/10		8.030	%		7,282		7,345		0.72	%
Pointe Royale	07/15/10		7.950	%		3,799		4,015		0.38	%
Shops at Skylake	08/01/10		7.650	%		13,561		13,874		1.35	%
Parkwest Crossing	09/01/10		8.100	%		4,598		4,636		0.46	%
Spalding Village	09/01/10		8.190	%		9,631		9,899		0.96	%
Charlotte Square	02/01/11		9.190	%		3,422		3,479		0.34	%
Forest Village	04/01/11		7.270	%		4,348		4,389		0.43	%
Boca Village	05/01/11		7.200	%		8,038		8,114		0.80	%
MacLand Pointe	05/01/11		7.250	%		5,677		5,731		0.56	%
Pine Ridge Square	05/01/11		7.020	%		7,114		7,184		0.71	%
Sawgrass Promenade	05/01/11		7.200	%		8,038		8,115		0.80	%
Presidential Markets	06/01/11		7.650	%		26,642		26,872		2.64	%
Lake Mary	11/01/11		7.250	%		23,796		24,011		2.36	%
Lake St. Charles	11/01/11		7.130	%		3,755		3,790		0.37	%
Belfair Towne Village	12/01/11		7.320	%		10,814		10,984		1.07	%
Marco Town Center	01/01/12		6.700	%		8,282		8,413		0.82	%
Riverside Square	03/01/12		9.190	%		7,380		7,474		0.73	%
Cashmere Corners	11/01/12		5.880	%		4,945		5,032		0.49	%
Eastwood	11/01/12		5.880	%		5,893		5,996		0.58	%
Meadows Shopping Center	11/01/12		5.870	%		6,193		6,301		0.61	%
Sparkleberry Square (3)	11/30/12		6.170	%		6,424		6,526		0.64	%
Lutz Lake	12/01/12		6.280	%		7,500		7,500		0.74	%
Alafaya Village	11/11/13		5.990	%		4,105		-		0.41	%

Page 21

EQUITY ONE, INC. AND SUBSIDIARIES
CONSOLIDATED DEBT SUMMARY
As of September 30, 2006
(in thousands)
Debt Instrument	Maturity date	Rate (1)			Sep 30, 2006 balance		Dec 31, 2005 balance		Percent of total indebtedness at Sep 30, 2006
Summerlin Square	02/01/14		6.750	%	$	3,091	$	3,326		0.31	%
Bird Ludlum	02/15/15		7.680	%		8,510		9,035		0.84	%
Treasure Coast Plaza	04/01/15		8.000	%		4,002		4,238		0.40	%
Shoppes of Silverlakes	07/01/15		7.750	%		2,326		2,460		0.23	%
Grassland Crossing	12/01/16		7.870	%		5,520		5,657		0.55	%
Mableton Crossing	08/15/18		6.850	%		3,880		3,961		0.38	%
Sparkleberry Square (3)	06/30/20		6.750	%		7,379		7,618		0.73	%
BridgeMill	05/05/21		7.940	%		9,081		9,221		0.90	%
Westport Plaza	08/24/23		7.490	%		4,707		4,782		0.47	%
Chastain Square	02/28/24		6.500	%		3,636		3,719		0.36	%
Daniel Village	02/28/24		6.500	%		3,974		4,064		0.39	%
Douglas Commons	02/28/24		6.500	%		4,736		4,842		0.47	%
Fairview Oaks	02/28/24		6.500	%		4,482		4,583		0.44	%
Madison Centre	02/28/24		6.500	%		3,636		3,718		0.36	%
Paulding Commons	02/28/24		6.500	%		6,173		6,312		0.61	%
Siegen Village	02/28/24		6.500	%		4,017		4,107		0.40	%
Wesley Chapel Crossing	02/28/24		6.500	%		3,171		3,242		0.31	%
Total mortgage debt (54 loans outstanding)	5.4 years		7.290	%		364,487		446,925		36.16	%
Net interest premium/(discount)	(wtd-avg maturity)	(wtd-avg interest rate)				8,946		11,006		0.89	%
Total mortgage debt (including net interest premium/discount)					$	373,433	$	457,931		37.05	%

Page 22

EQUITY ONE, INC. AND SUBSIDIARIES
CONSOLIDATED DEBT SUMMARY
As of September 30, 2006
(in thousands)
Debt Instrument	Maturity date	Rate (1)		Sep 30, 2006 balance			Dec 31, 2005 balance			Percent of total indebtedness at Sep 30, 2006
Unsecured senior notes payable
7.77% senior notes	04/01/06		7.770%	$	-		$	50,000			0.00	%
7.25% senior notes	08/25/06		7.250%		-			75,000			0.00	%
3.875% senior notes (4)	04/15/09		3.875%		200,000			200,000			19.84	%
Fair value of $100MM fixed-to-floating interest rate swap (5)	04/15/09		6-month Libor + 0.4375%		(4,521	)		(4,596	)		(0.45	%)
7.84% senior notes	01/23/12		7.840%		25,000			25,000			2.48	%
5.375% senior notes	10/15/15		5.375%		120,000			120,000			11.91	%
6.00% senior notes	09/15/16		6.000%		125,000			-			12.40	%
6.25% senior notes	01/15/17		6.250%		125,000			-			12.40	%
Total unsecured senior notes payable	7.9 years		5.652%		590,479			465,404			58.59	%
Net interest premium/(discount)	(wtd-avg maturity)	(wtd-avg interest rate)			(56	)		4,824			(0.01	%)
Total unsecured senior notes payable (including net interest premium/discount)				$	590,423		$	470,228			58.58	%
Revolving credit facilities
$275MM Wells Fargo Unsecured	01/17/09		5.640%		44,000			93,000			4.37	%
$5MM City National Bank Unsecured	05/11/07		Libor + 1.000%		-			165			0.00	%
Total revolving credit facilities				$	44,000		$	93,165			4.37	%
Total debt					998,966			1,005,494			99.12	%
Net interest premium/(discount)					8,890			15,830			0.88	%
Total debt (including net interest premium/discount)				$	1,007,856		$	1,021,324			100.00	%
Senior Unsecured Debt Ratings
Moody's				Baa3 (Positive)			Baa3 (Positive)
S&P				BBB- (Positive)			BBB- (Stable)

Page 23

EQUITY ONE, INC. AND SUBSIDIARIES
CONSOLIDATED DEBT MATURITIES
As of September 30, 2006
(in thousands)
	Secured Debt				Unsecured Debt
Maturity schedule	Scheduled		Balloon		Revolving Credit		Senior				Percent of
by year	amortization		payments		Facilities (5)		Notes (6)		Total		debt maturing
2006	$	2,294	$	-	$	-	$	-	$	2,294		0.2	%
2007		9,563		2,864		-		-		12,427		1.2	%
2008		9,815		28,474		-		-		38,289		3.8	%
2009		9,634		17,926		44,000		200,000		271,560		27.1	%
2010		8,879		69,594		-		-		78,473		7.8	%
2011		7,456		93,433		-		-		100,889		10.1	%
2012		6,195		40,056		-		25,000		71,251		7.1	%
2013		5,771		3,556		-		-		9,327		0.9	%
2014		5,666		-		-		-		5,666		0.6	%
2015		4,192		30		-		120,000		124,222		12.4	%
Thereafter		29,105		9,984		-		250,000		289,089		28.8	%
Total	$	98,570	$	265,917	$	44,000	$	595,000	$	1,003,487		100.0	%

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

(2) Repaid as part of the sale of the 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 DEBT SUMMARY
As of September 30, 2006
(in thousands)
	Equity One's			Maturity			Sep 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		6.010%		63,800		-
Total mortgage notes payable				7.9 years		5.790%	$	312,200	$	-
				(wtd-avg-maturity)	(wtd-avg interest rate)
Equity One's pro-rata share of unconsolidated debt							$	62,440	$	-

Page 25

EQUITY ONE, INC. AND SUBSIDIARIES
PROPERTY STATUS REPORT
As of September 30, 2006
				Total				Supermarket anchor				Average base
			Year built /	square footage	Percent	number of tenants		owned	shadow	name expiration	Other anchor	rent per leased
Property		City	renovated	owned	leased	leased	vacant	SF	SF	date	tenants	SF
ALABAMA (2)
	Madison Centre	Madison	1997	64,837	97.5%	12	1	37,912		Publix	Rite Aid	$ 9.61
										(6/1/2017)
	West Gate Plaza	Mobile	1974 / 1985	64,378	96.2%	6	3	44,000		Winn-Dixie	Rite Aid	7.03
										(7/19/2015)
TOTAL SHOPPING CENTERS ALABAMA (2)				129,215	96.9%	18	4	81,912	0			$ 8.33
FLORIDA (81)
Central Florida (11)
	Alafaya Commons	Orlando	1987	123,133	100.0%	29	0	54,230		Publix	Blockbuster	12.27
										(11/30/2007)
	Alafaya Village	Orlando	1986	39,477	86.7%	14	1		53,979	Super Saver		16.41
	Conway Crossing	Orlando	2002	76,321	98.2%	17	1	44,271		Publix		12.04
										(4/30/2022)
	Eastwood	Orlando	1997	69,037	100.0%	13	0	51,512		Publix		11.59
										(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	5.93
										(5/31/2013)
	Kirkman Shoppes	Orlando	1973	88,820	100.0%	30	0				Party Depot	17.48
	Lake Mary	Orlando	1988 / 2001	342,384	96.3%	65	20	63,139		Albertsons	Kmart, Lifestyle Fitness, Sunstar Movie Theatres	11.45
										(6/30/2012)
	Park Promenade	Orlando	1987 / 2000	125,818	96.9%	25	1	55,000		Publix*	Orange County Library, Blockbuster, Goodwill	9.08
										(2/9/2007)
	Town & Country	Kissimmee	1993	72,043	100.0%	14	0	52,883		Albertsons*		8.98
										(10/31/2018)
	Unigold	Winter Park	1987	117,527	97.1%	24	1	52,500		Winn-Dixie	Blockbuster, Lifestyle Family Fitness	11.16
										(4/30/2007)
	Walden Woods	Plant City	1985 / 1998, 2003	75,874	82.9%	12	2				Dollar Tree, Aaron Rents, Dollar General	6.83
North Florida (12)
	Atlantic Village	Atlantic Beach	1984 / 1998	100,559	100.0%	25	0	39,795		Publix	JoAnn Fabrics, Dollar Tree	11.10
										(10/31/2008)
	Beauclerc Village	Jacksonville	1962 / 1988	70,429	84.7%	9	2				Big Lots, Goodwill, Bealls Outlet	8.13
	Commonwealth	Jacksonville	1984 / 1998	81,467	98.4%	15	1	48,997		Winn-Dixie/Save Rite		8.37
										(2/28/2018)
	Forest Village	Tallahassee	2000	71,526	92.3%	13	4	37,866		Publix		10.49
										(4/30/2020)
	Ft. Caroline	Jacksonville	1985 / 1995	74,546	96.2%	11	2	45,500		Winn-Dixie	Citi Trends	7.34
										(5/31/2015)
	Medical & Merchants	Jacksonville	1993	152,761	96.9%	14	3	55,999		Publix	Memorial Health Group, Blockbuster	12.27
										(2/10/2013)
	Middle Beach	Panama City Beach	1994	69,277	100.0%	9	0	56,077		Publix	Movie Gallery	9.65
										(9/30/2014)
	Monument Point	Jacksonville	1985 / 1997	75,128	98.0%	11	1	46,772		Winn-Dixie	CVS Pharmacy	6.73
										(3/27/2010)

Page 26

EQUITY ONE, INC. AND SUBSIDIARIES
PROPERTY STATUS REPORT
As of September 30, 2006
				Total				Supermarket anchor				Average base
			Year built /	square footage	Percent	number of tenants		owned	shadow	name expiration	Other anchor	rent per leased
Property		City	renovated	owned	leased	leased	vacant	SF	SF	date	tenants	SF
	Oak Hill	Jacksonville	1985 / 1997	78,492	100.0%	19	0	39,795		Publix	Beall's	$ 7.30
										(3/11/2010)
	Parkmore Plaza	Milton	1986	159,093	99.4%	12	1				Bealls, Big Lots	4.86
	Pensacola Plaza	Pensacola	1985	56,098	100.0%	3	0	42,848		FoodWorld		4.61
										(12/31/2009)
	South Beach	Jacksonville Beach	1990, 1991	289,964	93.2%	42	8				Home Depot, Bed Bath & Beyond, Bealls, Stein Mart	11.05
South Florida / Atlantic Coast (32)
	Bird Ludlum	Miami	1988 / 1998	192,282	100.0%	43	0	44,400		Winn-Dixie	CVS Pharmacy, Blockbuster, Goodwill, Bird Executive Suites	15.58
										(12/31/2007)
	Boca Village	Boca Raton	1978	93,428	95.0%	18	3	36,000		Publix	CVS Pharmacy	15.45
										(3/31/2012)
	Boynton Plaza	Boynton Beach	1978 / 1999	99,324	100.0%	29	0	37,664		Publix	CVS Pharmacy, Hollywood Video	11.45
										(8/31/2008)
	Coral Reef Shopping Center	Palmetto Bay	1968 / 1990	74,680	98.7%	16	1				Office Depot, My Pharmacy, ABC Fine Wine and Spirits	19.32
	Countryside Shops	Cooper City	1986, 1988, 1991	179,561	99.4%	45	1	39,795		Publix	CVS Pharmacy, Stein Mart	13.20
										(12/4/2010)
	Crossroads Square	Pembroke Pines	1973	92,277	97.2%	25	2				Lowe's, CVS Pharmacy, 99 Cent Stuff	14.45
	CVS Plaza	Miami	2004	29,204	100.0%	8	0				CVS Pharmacy	16.61
	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	98.0%	35	2	50,032		Publix	Bealls Outlet, World Savings Bank	12.43
										(12/5/2014)
	Lago Mar	Miami	1995	82,613	93.9%	19	1	42,323		Publix		13.13
										(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	7.22
										(2/15/2011)
	Meadows	Miami	1997	75,524	100.0%	20	0	47,955		Publix		13.10
										(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	16.08
										(11/30/2020)
	Pine Island	Davie	1983 / 1999	254,907	100.0%	45	0	39,943		Publix	Home Depot Expo, Staples	11.00
										(11/30/2013)
	Pine Ridge Square	Coral Springs	1986 / 1998, 1999	117,399	99.1%	34	1	17,441		Fresh Market	Bed Bath & Beyond, Off Main Furniture, Blockbuster	14.22
										(6/30/2009)
	Plaza Alegre	Miami	2003	91,611	98.7%	20	1	44,271		Publix	Goodwill, Blockbuster	15.00
										(3/14/2023)
	Point Royale	Miami	1970 / 2000	216,760	95.0%	24	2	45,350		Winn-Dixie	Best Buy, CVS Pharmacy* (Anna's Linens)	6.70
										(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
	Ridge Plaza	Davie	1984 / 1999	155,204	99.6%	28	1		(see Pine Island)		AMC Theater, Kabooms, Wachovia* (United Collection), Sofa Kings, Round Up	10.04
	Riverside Square	Coral Springs	1987	107,941	96.3%	33	3	39,795		Publix	Tuesday Morning	13.80
										(2/18/2007)

Page 27

EQUITY ONE, INC. AND SUBSIDIARIES
PROPERTY STATUS REPORT
As of September 30, 2006
				Total				Supermarket anchor				Average base
			Year built /	square footage	Percent	number of tenants		owned	shadow	name expiration	Other anchor	rent per leased
Property		City	renovated	owned	leased	leased	vacant	SF	SF	date	tenants	SF
	Sawgrass Promenade	Deerfield Beach	1982 / 1998	107,092	97.0%	28	1	36,464		Publix	Walgreens, Blockbuster	$ 11.51
										(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	14.00
										(10/9/2011)
	Shoppes at Quail Roost	Miami	2005	73,550	93.9%	18	2	44,840		Publix		14.98
										(6/30/25)
	Shoppes of Ibis	West Palm Beach	1999	79,420	100.0%	18	0	51,420		Publix		13.07
										(4/30/2019)
	Shoppes of Silverlakes	Pembroke Pines	1995, 1997	126,788	100.0%	40	0	47,813		Publix	Blockbuster	16.84
										(6/14/2015)
	Shops at Skylake	North Miami Beach	1999-2005	284,943	99.3%	49	2	51,420		Publix	Goodwill, L.A. Fitness, Blockbuster	16.07
										(7/31/2019)
	Tamarac Town Square	Tamarac	1987	127,635	93.1%	35	5	37,764		Publix	Dollar Tree	11.25
										(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	11.57
										(10/31/2016)
	Westport Plaza	Davie	2002	49,980	93.9%	7	1	27,887		Publix	Blockbuster	16.21
										(11/30/2022)
	Young Circle	Hollywood	1962 / 1997	65,834	96.7%	8	2	23,124		Publix	Walgreens	15.59
										(11/30/2016)
Florida Treasure Coast (9)
	Bluffs Square	Jupiter	1986	132,395	100.0%	47	0	39,795		Publix	Walgreens	12.94
										(10/22/2011)
	Cashmere Corners	Port St. Lucie	2001	89,234	100.0%	17	0	59,448		Albertsons		8.75
										(4/30/2025)
	Jonathan's Landing	Jupiter	1997	26,820	79.5%	11	1		53,850	Albertsons	Blockbuster	20.13
	New Smyrna Beach	New Smyrna Beach	1987	118,451	100.0%	34	0	42,112		Publix	Walgreens* (Bealls Outlet), Bealls Home Outlet, Blockbuster	10.37
										(9/30/2007)
	Old King Commons	Palm Coast	1988	84,759	100.0%	19	0				Wal-Mart* (Bealls Outlet)	8.48
	Ryanwood	Vero Beach	1987	114,925	100.0%	32	0	39,795		Publix	Bealls Outlet, Books-A-Million	10.25
										(3/23/2017)
***	Salerno Village	Stuart	1987	79,903	99.1%	19	1	45,802		Winn-Dixie	CVS Pharmacy	10.62
										(3/23/2024)
	Shops at St. Lucie	Port St. Lucie	2006	19,361	83.2%	10	2					22.08
	Treasure Coast	Vero Beach	1983	133,781	97.2%	23	2	59,450		Publix		9.74
										7/31/2026
Florida West Coast (17)
	Bay Pointe Plaza	St. Petersburg	1984 / 2002	103,986	96.6%	21	3	52,610		Publix	Bealls Outlet, West Marine	10.03
										(11/30/2021)
	Carrollwood	Tampa	1970 / 2002	94,203	91.0%	30	5	27,887		Publix	Floors Today	12.38
										(11/30/2022)
	Charlotte Square	Port Charlotte	1980	96,188	98.2%	23	1				American Signature Furniture, Seafood Buffet	8.31
	Chelsea Place	New Port Richey	1992	81,144	100.0%	18	0	48,890		Publix	CVS Pharmacy	11.51
										(5/27/2012)
	Lake St. Charles	Tampa	1999	57,015	100.0%	8	0	46,295		Sweet Bay		9.97
										(6/30/2019)

Page 28

EQUITY ONE, INC. AND SUBSIDIARIES
PROPERTY STATUS REPORT
As of September 30, 2006
				Total				Supermarket anchor				Average base
			Year built /	square footage	Percent	number of tenants		owned	shadow	name expiration	Other anchor	rent per leased
Property		City	renovated	owned	leased	leased	vacant	SF	SF	date	tenants	SF
	Lutz Lake	Lutz	2002	64,985	100.0%	15	0	44,270		Publix		$ 14.04
										(5/31/2022)
	Marco Town Center	Marco Island	2001	109,830	99.4%	41	1	27,887		Publix	West Marine	17.04
										(1/31/2018)
	Mariners Crossing	Spring Hill	1989 / 1999	91,608	100.0%	15	0	48,315		Kash n' Karry		9.18
										(8/15/2020)
	Pavilion	Naples	1982	167,745	97.7%	40	2	50,795		Publix	Pavillion 6 Theatre, Anthony's	14.76
										(2/28/2013)
	Regency Crossing	Port Richey	1986 / 2001	85,864	80.7%	16	9	44,270		Publix		10.03
										(2/28/2021)
	Ross Plaza	Tampa	1984 / 1996	85,359	93.1%	16	3				Ross Dress for Less, Laminate Kingdom	10.28
	Seven Hills	Spring Hill	1991	71,390	90.3%	13	3	48,890		Publix		10.05
										(9/25/2011)
	Shoppes of North Port	North Port	1991	84,705	97.5%	20	2	48,890		Publix	Bealls Outlet	10.37
										(12/11/2011)
	Skipper Palms	Tampa	1984	89,482	92.9%	15	3	53,440		Winn-Dixie		9.59
										(5/31/2016)
	Summerlin Square	Fort Myers	1986 / 1998	109,156	80.2%	19	10	45,500		Winn-Dixie	West Marine	10.53
										(6/4/2011)
	Venice Plaza	Venice	1971/ 1979 / 1999	148,779	88.3%	14	2	42,582		Sweet Bay	TJ Maxx/Home Goods, Blockbuster	5.71
										(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 (81)				9,067,066	96.9%	1,813	136	2,811,177	107,829			$ 11.68
GEORGIA (24)
Atlanta (19)
	BridgeMill	Canton	2000	89,102	96.6%	29	2	37,888		Publix		15.16
										(1/31/2020)
	Butler Creek	Acworth	1990	95,597	98.5%	19	1	59,997		Kroger		10.99
										(6/30/2018)
	Chastain Square	Atlanta	1981 / 2001	91,637	100.0%	28	0	37,366		Publix		16.88
										(5/31/2024)
	Commerce Crossing	Commerce	1988	105,188	56.9%	7	4	32,000		Ingles	Fred's Store	4.68
										(9/26/2009)
	Douglas Commons	Douglasville	1988	97,027	97.6%	15	1	59,431		Kroger		10.23
										(8/31/2013)
	Fairview Oaks	Ellenwood	1997	77,052	94.4%	11	2	54,498		Kroger	Blockbuster	11.06
										(9/30/2016)
	Grassland Crossing	Alpharetta	1996	90,906	97.3%	12	2	70,086		Kroger		11.63
										(6/30/2016)
	Hairston Center	Decatur	2000	13,000	53.8%	5	4					14.89
	Hamilton Ridge	Buford	2002	89,496	95.3%	18	2	54,166		Kroger		12.91
										(11/30/2022)
	Mableton Crossing	Mableton	1997	86,819	98.6%	16	1	63,419		Kroger		10.38
										(8/31/2017)
	Macland Pointe	Marietta	1992-1993	79,699	98.5%	16	1	55,999		Publix		9.78
										(12/29/2012)

Page 29

EQUITY ONE, INC. AND SUBSIDIARIES
PROPERTY STATUS REPORT
As of September 30, 2006
				Total				Supermarket anchor				Average base
			Year built /	square footage	Percent	number of tenants		owned	shadow	name expiration	Other anchor	rent per leased
Property		City	renovated	owned	leased	leased	vacant	SF	SF	date	tenants	SF
	Market Place	Norcross	1976	77,706	84.5%	19	4				Peachtree Cinema	$ 11.84
	Paulding Commons	Dallas	1991	192,391	93.7%	23	7	49,700		Kroger	Kmart	7.74
										(2/28/2011)
	Piedmont Peachtree Crossing	Buckhead	1978 / 1998	152,239	100.0%	28	0	55,520		Kroger	Cost Plus Store, Binders Art Supplies	16.01
										(5/31/2010)
	Powers Ferry Plaza	Marietta	1979, 1987 / 1998	86,473	99.7%	23	1				Micro Center	10.62
	Presidential Markets	Snellville	1993-2000	396,408	95.2%	32	3	56,146		Publix	Bed Bath & Beyond, TJ Maxx, Shoe Carnival, Borders, Ross Dress for Less, Marshalls, Carmike Cinema, Office Depot	10.21
										(12/31/2019)
	Shops of Huntcrest	Lawrenceville	2003	97,040	100.0%	26	0	54,340		Publix		14.12
										(1/31/2023)
	West Towne Square	Rome	1988	89,596	77.0%	10	8				Big Lots	5.24
	Williamsburg @ Dunwoody	Dunwoody	1983	44,928	97.4%	26	1					17.69
Central Georgia (3)
	Daniel Village	Augusta	1956 / 1997	171,932	94.4%	34	5	45,971		Bi-Lo	Eckerd, St. Joseph Home Health Care	8.24
										(3/25/2022)
	Spalding Village	Griffin	1989	235,318	69.4%	23	5	59,431		Kroger	JC Penney*, Blockbuster, Fred's Store	7.90
										(5/31/2014)
	Walton Plaza	Augusta	1990	43,460	97.2%	7	1	32,960		Harris Teeter* (Omni Fitness)		9.62
										(4/1/2011)
South Georgia (2)
	Colony Square	Fitzgerald	1987	50,000	92.8%	4	2	32,200		Food Lion* (Harvey's)		5.82
										(12/31/2007)
	McAlpin Square	Savannah	1979	176,807	89.6%	22	5	43,600		Kroger	US Post Office, Big Lots, In Fashion Menswear Outlet	7.42
										(8/31/2015)
TOTAL SHOPPING CENTERS GEORGIA (24)				2,729,821	91.2%	453	62	954,718	0			$ 10.53
LOUISIANA (14)
**	Ambassador Row	Lafayette	1980, 1991	193,978	84.1%	24	2				Conn's Appliances, Big Lots, Chuck E Cheese, Goody's	9.12
**	Ambassador Row Courtyard	Lafayette	1986, 1991 / 2005	146,697	94.5%	22	1				Bed Bath & Beyond, Marshall's, Hancock Fabrics, United Training Academy	10.54
**	Bluebonnet Village	Baton Rouge	1983	101,623	87.6%	18	6	33,387		Matherne's	Ace Hardware	8.80
										(11/30/2010)
**	Boulevard	Lafayette	1976, 1994	68,012	100.0%	14	0				Piccadilly, Harbor Freight Tools, Golfballs.com	7.76
**	Country Club Plaza	Slidell	1982 / 1994	64,686	100.0%	10	0	33,387		Winn-Dixie	Dollar General	6.08
										(1/31/2008)
**	Crossing	Slidell	1988, 1993	113,989	97.4%	14	1	58,432		Save A Center	A-1 Home Appliance, Piccadilly	5.97
										(9/29/2009)
**	Elmwood Oaks	Harahan	1989	133,995	96.5%	10	1				Academy Sports, Dollar Tree, Home Décor	9.44
**	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	4.20
										(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 September 30, 2006
				Total				Supermarket anchor				Average base
			Year built /	square footage	Percent	number of tenants		owned	shadow	name expiration	Other anchor	rent per leased
Property		City	renovated	owned	leased	leased	vacant	SF	SF	date	tenants	SF
**	Siegen Village	Baton Rouge	1988	170,416	98.6%	19	1				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	100.0%	14	0				Marshalls, Dollar Tree, Kirschman's*, Bed Bath & Beyond, Office Depot	8.59
**	Wal-Mart Mathews	Mathews	1985	54,223	100.0%	1	0				Wal-Mart	2.90
TOTAL SHOPPING CENTERS LOUISIANA (14)				1,631,973	93.0%	170	15	153,298	0			$ 6.86
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	0			$ 21.52
MISSISSIPPI (1)
	Shipyard Plaza	Pascagoula	1987	66,857	100.0%	8	0				Big Lots, Buffalo Wild Wings Gill & Bar	6.49
TOTAL SHOPPING CENTERS MISSISSIPPI (1)				66,857	100.0%	8	0	0	0			$ 6.49
NORTH CAROLINA (9)
	Centre Pointe Plaza	Smithfield	1989	163,642	93.7%	21	3				Belk's, Goody's, Dollar Tree, Aaron Rents	6.28
	Galleria	Wrightsville Beach	1986, 1990	92,114	93.8%	33	3	28,000		Harris Teeter	Eckerd	9.52
										(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	6.81
	Riverview Shopping Center	Durham	1973 / 1995	128,498	92.7%	10	6	53,538		Kroger	Upchurch Drugs, Blockbuster, Riverview Galleries	7.21
										(12/31/2014)
	Salisbury Marketplace	Salisbury	1987	79,732	96.9%	19	1	31,762		Food Lion		10.25
										(2/11/2023)
	Shelby Plaza	Shelby	1972	103,200	98.1%	8	1				Big Lots, Aaron Rents, Burke's Outlet, Tractor Supply Company	3.83
	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	9.99
										(5/14/2009)
TOTAL SHOPPING CENTERS NORTH CAROLINA (9)				970,158	92.8%	144	28	236,720	0			$ 7.50

Page 31

EQUITY ONE, INC. AND SUBSIDIARIES
PROPERTY STATUS REPORT
As of September 30, 2006
				Total				Supermarket anchor				Average base
			Year built /	square footage	Percent	number of tenants		owned	shadow	name expiration	Other anchor	rent per leased
Property		City	renovated	owned	leased	leased	vacant	SF	SF	date	tenants	SF
SOUTH CAROLINA (9)
	Belfair Towne Village	Bluffton	2000-2003	166,639	95.0%	30	5	55,696		Kroger	Blockbuster, Steinmart	$ 12.98
										(10/31/2019)
	Lancaster Plaza	Lancaster	1971 / 1990	77,400	32.6%	2	2	19,200		Bi-Lo		3.62
										(9/30/2010)
	Lancaster Shopping Center	Lancaster	1963, 1987	29,047	100.0%	2	0				Sweet Union Furniture	2.07
	Milestone Plaza	Greenville	1995	93,655	100.0%	11	0	61,695		Bi-Lo		15.01
										(3/31/30
	North Village Center	North Myrtle Beach	1984	60,356	96.8%	11	2	24,806		Bi-Lo	Dollar General, Gold's Gym	8.60
										(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	11.29
										(8/31/2017)
	Spring Valley	Columbia	1978 / 1997	75,415	95.2%	15	3	45,070		Bi-Lo		9.18
										(12/31/2017)
	Windy Hill	North Myrtle Beach	1968 / 1988	68,465	98.2%	4	1				Rose's Store, Family Dollar Store	5.99
	Woodruff	Greenville	1995	68,055	100.0%	10	0	47,955		Publix	Blockbuster	10.28
										(8/6/2015)
TOTAL SHOPPING CENTERS SOUTH CAROLINA (9)				978,083	93.1%	111	14	322,365	0			$ 10.65
TENNESSEE (1)
	Smyrna Village	Smyrna	1992	83,334	100.0%	12	0	59,214		Kroger		8.37
										(2/29/2012)
TOTAL SHOPPING CENTERS TENNESSEE (1)				83,334	100.0%	12	0	59,214	0			$ 8.37
TEXAS (1)
	Rosemeade	Carrollton	1986	51,231	79.9%	11	6				Blockbuster	6.57
TOTAL SHOPPING CENTERS TEXAS (1)				51,231	79.9%	11	6	0	0			$ 6.57
VIRGINA (1)
	Smyth Valley Crossing	Marion	1989	126,841	97.8%	12	2	32,000		Ingles	Wal-Mart	5.83
										(9/25/2010)
TOTAL SHOPPING CENTERS VIRGINIA (1)				126,841	97.8%	12	2	32,000	0			$ 5.83
TOTAL CORE SHOPPING CENTER PORTFOLIO (149)				16,233,733	95.1%	2,767	269	5,029,170	107,829			$ 10.84
DEVELOPMENTS & REDEVELOPMENTS (16)
	Brookside Plaza	Enfield, CT	1985	210,787	79.5%	25	3	59,648		Shaw's	Walgreens, Staples, Old Country Buffet, Blockbuster	11.11
										(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	44.5%	6	2				Dollar General	8.20
	Deep Creek Land	Fairburn, GA	TBD	101.0 Acres

Page 32

EQUITY ONE, INC. AND SUBSIDIARIES
PROPERTY STATUS REPORT
As of September 30, 2006
				Total				Supermarket anchor				Average base
			Year built /	square footage	Percent	number of tenants		owned	shadow	name expiration	Other anchor	rent per leased
Property		City	renovated	owned	leased	leased	vacant	SF	SF	date	tenants	SF
	Dolphin Village	St. Pete Beach, FL	1967 / 1990	138,129	92.4%	39	7	33,238		Publix	Dollar Tree, CVS	$ 10.29
										(11/07/2013)
	Hunters Creek	Orlando, FL	1998	68,032	24.7%	8	1					18.19
	Mandarin Landing	Jacksonville, FL	1976 / 2000	141,565	67.6%	28	9				Office Depot	9.32
	Providence Square	Charlotte, NC	1973	85,930	95.8%	21	4	35,702		Harris Teeter*	Eckerd	8.21
										(4/30/2006)
	River Green	Canton, GA	2008 Development	9.2 acres
	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	64.8%	20	5					9.50
	Waterlick Plaza	Lynchburg, VA	TBD	8.0 acres
	Wesley Chapel Crossing	Decatur, GA	1989	170,792	36.4%	15	11	32,000		Ingles*	CVS Pharmacy	7.67
										(9/25/2009)
	Westridge	McDonough, GA	2006	66,297	73.1%	8	13	38,997		Publix		13.98
										(4/30/2026)
**	Winchester Plaza	Huntsville, AL	2006	74,800	64.2%	3	19	45,600		Publix		10.51
										(8/31/26)
TOTAL DEVELOPMENTS & REDEVELOPMENTS (16)				1,226,194	62.7%	178	76	245,185	0			$ 10.18
TOTAL RETAIL PROPERTIES (165)				17,459,927	92.8%	2,945	345	5,274,355	107,829			$ 10.81
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					22.87
	Commonwealth II	Jacksonville, FL		53,598	0.0%	0	1
	Laurel Walk Apartments	Charlotte, NC	1985	106,480	96.3%	94	4					7.73
	Mandarin Mini-storage	Jacksonville, FL	1982	52,880	95.5%	510	24
	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 (172)				17,901,741	92.0%	3,572	384	5,274,355	107,829			$ 10.74

Page 33

EQUITY ONE, INC. AND SUBSIDIARIES
PROPERTY STATUS REPORT
As of September 30, 2006
				Total				Supermarket anchor				Average base
			Year built /	square footage	Percent	number of tenants		owned	shadow	name expiration	Other anchor	rent per leased
Property		City	renovated	owned	leased	leased	vacant	SF	SF	date	tenants	SF
UNCONSOLIDATED PROPERTIES (29)
TEXAS (29)
Dallas (11)
	Creekside	Arlington	1997 / 1998	109,464	94.5%	18	2	60,932		Kroger	Hollywood Video	$ 12.40
										(11/30/2021)
	DeSoto Shopping Center	DeSoto	1996	69,090	100.0%	5	0	58,960		Tom Thumb	Blockbuster	9.69
										(11/15/2021)
	Green Oaks	Arlington	1983	65,091	61.0%	21	13		58,000	Kroger		11.12
	Melbourne Plaza	Hurst	1983	47,517	92.9%	16	2					11.99
	Minyards	Garland	2000	65,295	100.0%	2	0	58,695		Minyards/Sack N Save		6.15
										(4/30/2020)
	Parkwood	Plano	1985	81,590	73.2%	14	6		62,000	Albertsons	Planet Pizza	12.83
	Richwood	Richardson	1984	54,871	87.9%	22	5		61,877	Albertsons	Blockbuster	13.01
	Southlake Village	Southlake	1996	118,092	85.3%	17	5	60,932		Kroger		12.71
										(10/31/2021)
	Sterling Plaza	Irving	1989	65,765	94.1%	14	2				Bank One, Irving City Library, 99 Cent Only Store	14.41
	Townsend Square	Desoto	1990	146,953	84.7%	29	6		60,349	Albertsons	Bealls, Victory Gym, Dollar General, Desoto Children's Academy	9.11
	Village by the Park	Arlngton	1988	44,523	100.0%	10	0				Petco, Movie Trading	17.49
HOUSTON (15)
	Barker Cypress	Houston	1999	66,945	85.0%	11	6	41,320		H.E.B.		12.44
										(1/31/2014)
	Beechcrest	Houston	1981 / 2001	90,647	98.7%	14	1	40,345		Randall's*	Walgreens*	8.68
										(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					19.20
	Copperfield	Houston	1994	145,034	92.7%	33	6				JoAnn Fabrics, Dollar Tree, 24 Hour Fitness	12.60
	Forestwood	Houston	1993	88,760	92.2%	13	3	59,334		Kroger	Blockbuster	11.08
										(7/31/2013)
	Grogan's Mill	The Woodlands	1986	118,517	98.1%	24	2	56,558		Randall's* (99¢ Store)	Petco, Blockbuster	11.98
										(6/24/2016)
	Highland Square	Sugarland	1998	64,171	99.7%	27	1					17.74
	Kirkwood Bissonnet	Houston	1999	15,542	59.9%	7	3		63,000	Kroger		17.05
	Market at First Colony	Sugarland	1988	107,301	100.0%	34	0		62,000	Kroger	TJ Maxx, CVS Pharmacy	16.58
	Mason Park	Katy	1998	161,297	96.1%	37	3		58,890	Kroger	Walgreens* (Eloise Collectibles), Palais Royal, Petco, Alamo Cimema	10.19
	Mission Bend	Houston	1980 / 1999	131,575	77.1%	19	8	46,112		Randall's*	Remarkable Furniture	8.16
										(6/24/2016)

Page 34

EQUITY ONE, INC. AND SUBSIDIARIES
PROPERTY STATUS REPORT
As of September 30, 2006
				Total				Supermarket anchor				Average base
			Year built /	square footage	Percent	number of tenants		owned	shadow	name expiration	Other anchor	rent per leased
Property		City	renovated	owned	leased	leased	vacant	SF	SF	date	tenants	SF
	Spring Shadows	Houston	1999	106,995	98.9%	17	1	65,161		H.E.B.		$ 9.85
										(4/30/2023)
	Steeplechase	Jersey Village	1985	105,152	88.4%	19	6	56,208		Randall's		10.88
										(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	11.67
										(12/31/2015)
SAN ANTONIO (3)
	Bandera Festival	San Antonio	1989	195,438	93.4%	33	6				Beall's, Big Lots, Burke's Outlet, Dollar Tree, FWL Furniture	9.08
	Blanco Village	San Antonio	2000	108,325	97.1%	15	1	74,627		H.E.B.		16.11
										(4/30/2015)
	Wurzbach	San Antonio	1979	59,771	100.0%	3	0				Travis Associates	3.04
TOTAL UNCONSOLIDATED PROPERTIES (29)				2,816,972	92.3%	517	90	754,338	426,116			$ 11.55
GRAND TOTAL (201)				20,718,713	92.0%	4,089	474	6,028,693	533,945			$ 10.85

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 this property is classified as held for sale as of September 30, 2006.

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

Page 35

EQUITY ONE, INC. AND SUBSIDIARIES

ANNUAL MINIMUM RENT BY STATE

As of September 30, 2006

State	Count		Total SF		# Leased		# Vacant		Leased %			AMR
Florida
South Florida / Atlantic Coast		33		4,133,877		817		36		96.8	%	$	53,302,881
Florida West Coast		19		1,923,876		397		57		92.0	%		18,610,920
Other Florida		34		3,545,791		697		66		91.6	%		34,055,940
Florida- subtotal		86		9,603,544		1,911		159		94.9	%		105,969,741
Georgia		26		2,966,910		476		86		87.6	%		27,350,363
Louisiana		14		1,631,973		170		15		93.0	%		10,423,037
Massachusetts		6		399,154		15		2		99.5	%		8,542,101
South Carolina		9		978,083		111		14		93.1	%		9,702,398
North Carolina		12		1,137,198		173		35		89.0	%		7,618,976
Texas		30		2,868,203		528		96		92.0	%		6,275,006
Connecticut		1		210,787		25		3		79.5	%		1,861,019
Alabama		3		204,015		21		23		84.9	%		1,547,426
Virginia		1		126,841		12		2		97.8	%		722,733
Tennessee		1		83,334		12		0		100.0	%		697,435
Mississippi		1		66,857		8		0		100.0	%		434,078
Total		190		20,276,899		3,462		435		92.8	%	$	181,144,313

Note: Excludes four 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 September 30, 2006

Renewals
					Average		Average		Annualized
			Average		Expiring		New		Minimum
# of Leases	Square Feet		Size		Rent psf		Rent psf		Rent
114		380,667		3,339		$10.85		$11.52		$4,384,890
						% Increase psf		6.1%
						Net Increase (AMR)				253,703
New Leases
								Average		Annualized
				Average				New		Minimum
# of Leases		Square Feet		Size				Rent psf		Rent
82		414,193		5,051				$11.53		$4,777,471
Lost Leases
						Average				Annualized
				Average		Expiring				Minimum
# of Leases		Square Feet		Size		Rent psf				Rent
60		226,516		3,775		$10.74				$2,432,219
Net Absorption				187,677		New Leases - Lost Leases
New vs. Lost Leasing Spread				7.4%		New Leases versus Lost Leases (rate psf)
Same Space Leasing Spread (1)				22.0%
								Net AMR Gain		$2,598,955

 

Note: Excludes 29 unconsolidated properties, four development parcels and seven non-retail properties.

(1) Compares beginning year AMR of new tenant versus final year AMR of prior tenant.

Excludes spaces vacant for more than one year and leases less than six months in length.

Page 37

EQUITY ONE, INC. AND SUBSIDIARIES

OCCUPANCY STATISTICS

As of September 30, 2006

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

Note: Reflects 132 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 September 30, 2006

Note: The charts above reflect 132 properties owned by Equity One in each of the previous eight quarters, as well as, 28 unconsolidated properties.

(1) Reflects one wholly owned TX property.

Page 39

EQUITY ONE, INC. AND SUBSIDIARIES

TENANT CONCENTRATION SCHEDULE

CONSOLIDATED PROPERTIES

As of September 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		53		2,353,845		13.5	%	$	17,914,455		10.2	%	$	7.61
Albertsons/Shaw's		9		578,977		3.3	%		8,512,332		4.9	%		14.70
Kroger		14		809,689		4.6	%		6,551,754		3.7	%		8.09
Winn Dixie		13		594,537		3.4	%		4,106,169		2.3	%		6.91
Bed Bath & Beyond		8		256,658		1.5	%		2,615,820		1.5	%		10.19
TJX Companies		9		275,658		1.6	%		2,340,942		1.3	%		8.49
Blockbuster		24		139,924		0.8	%		2,318,633		1.3	%		16.57
CVS Pharmacy		16		166,674		1.0	%		1,738,518		1.0	%		10.43
Office Depot, Inc.		7		191,146		1.1	%		1,733,518		1.0	%		9.07
K-Mart Corporation		4		343,617		2.0	%		1,699,705		1.0	%		4.95
Sub-total top ten tenants		157		5,710,725		32.7	%		49,531,846		28.3	%	$	8.67
Remaining tenants		2,788		10,497,551		60.1	%		125,606,329		71.7	%		11.97
Sub-total all tenants		2,945		16,208,276		92.8	%		175,138,175		100.0	%	$	10.81
Vacant		345		1,251,651		7.2	%		NA		NA			NA
Total including vacant		3,290		17,459,927		100.0	%	$	175,138,175		100.0	%	$	10.03

Note: Excludes 29 unconsolidated properties, four 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 September 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		53		2,353,845		11.6	%	$	17,914,455		8.7	%	$	7.61
Albertsons/Shaw's		9		578,977		2.9	%		8,512,332		4.1	%		14.70
Kroger		17		990,887		4.9	%		8,101,971		3.9	%		8.18
Winn Dixie		13		594,537		2.9	%		4,106,169		2.0	%		6.91
Blockbuster		30		171,509		0.8	%		2,850,013		1.4	%		16.62
H.E. Butt Grocery		4		256,262		1.3	%		2,775,355		1.4	%		10.83
Bed Bath & Beyond		8		256,689		1.3	%		2,615,820		1.3	%		10.19
TJX Companies		10		300,878		1.5	%		2,528,817		1.2	%		8.40
CVS Pharmacy		18		184,029		0.9	%		1,944,314		0.9	%		10.57
Safeway/Randalls		5		258,183		1.3	%		1,927,503		0.8	%		7.47
Sub-total top ten tenants		167		5,945,796		29.3	%		53,276,749		26.0	%	$	8.96
Remaining tenants		3,295		12,861,514		63.4	%		151,892,118		74.0	%		11.81
Sub-total all tenants		3,462		18,807,310		92.8	%		205,168,867		100.0	%	$	10.91
Vacant		435		1,469,589		7.2	%		NA		NA			NA
Total including vacant		3,897		20,276,899		100.0	%	$	205,168,867		100.0	%	$	10.12

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

Page 41

EQUITY ONE, INC. AND SUBSIDIARIES

SHOPPING CENTER LEASE EXPIRATION SCHEDULE

CONSOLIDATED PROPERTIES

As of September 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		71		149,105		0.9	%	$	1,855,326		1.0	%	$	12.44
2006		255		516,252		3.0	%		6,378,509		3.5	%		12.36
2007		591		1,896,030		10.9	%		22,977,265		12.7	%		12.12
2008		578		1,685,847		9.7	%		22,319,207		12.3	%		13.24
2009		521		1,952,735		11.2	%		23,138,521		12.8	%		11.85
2010		374		1,767,615		10.1	%		20,068,547		11.1	%		11.35
2011		270		1,848,932		10.6	%		19,068,743		10.5	%		10.31
2012		45		934,113		5.4	%		7,285,061		4.0	%		7.80
2013		39		610,539		3.5	%		5,924,879		3.3	%		9.70
2014		31		721,913		4.1	%		5,645,542		3.1	%		7.82
2015		32		457,982		2.6	%		4,861,521		2.7	%		10.62
Thereafter		138		3,667,213		20.9	%		41,765,794		23.0	%		11.39
Sub-total / average		2,945		16,208,276		92.8	%		181,288,915		100.0	%	$	11.18
Vacant		345		1,251,651		7.2	%		NA		NA			NA
Total / average		3,290		17,459,927		100.0	%	$	181,288,915		100.0	%	$	10.38

Note: Excludes 29 unconsolidated properties, four development parcels and seven non-retail properties.

Page 42

EQUITY ONE, INC. AND SUBSIDIARIES

SHOPPING CENTER LEASE EXPIRATION SCHEDULE

CONSOLIDATED PROPERTIES

As of September 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		1		10,000		0.1	%	$	153,873		0.2	%	$	15.39
2006		3		56,816		0.5	%		68,903		0.1	%		1.21
2007		26		712,382		6.4	%		4,766,821		5.7	%		6.69
2008		21		531,307		4.8	%		3,536,867		4.2	%		6.66
2009		34		909,231		8.2	%		5,955,464		7.1	%		6.55
2010		43		969,090		8.8	%		6,444,273		7.7	%		6.65
2011		41		1,284,824		11.6	%		8,433,139		10.0	%		6.56
2012		22		833,566		7.5	%		5,280,170		6.3	%		6.33
2013		15		533,716		4.8	%		4,255,651		5.1	%		7.97
2014		15		661,561		6.0	%		4,415,767		5.2	%		6.67
2015		13		393,588		3.6	%		3,416,151		4.1	%		8.68
Thereafter		80		3,466,067		31.5	%		37,438,142		44.3	%		10.80
Sub-total / average		314		10,362,148		93.7	%		84,165,221		100.0	%	$	8.12
Vacant		21		691,805		6.3	%		NA		NA			NA
Total / average		335		11,053,953		100.0	%	$	84,165,221		100.0	%	$	7.61

Note: Excludes 29 unconsolidated properties, four development parcels and seven non-retail properties.

Page 43

EQUITY ONE, INC. AND SUBSIDIARIES

SHOPPING CENTER LEASE EXPIRATION SCHEDULE

CONSOLIDATED PROPERTIES

As of September 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		70		139,105		2.2	%	$	1,701,453		1.8	%	$	12.23
2006		252		459,436		7.2	%		6,309,606		6.5	%		13.73
2007		565		1,183,648		18.5	%		18,210,444		18.7	%		15.39
2008		557		1,154,540		18.0	%		18,782,340		19.3	%		16.27
2009		487		1,043,504		16.3	%		17,183,057		17.7	%		16.47
2010		331		798,525		12.4	%		13,624,274		14.0	%		17.06
2011		229		564,108		8.8	%		10,635,604		11.0	%		18.85
2012		23		100,547		1.6	%		2,004,891		2.1	%		19.94
2013		24		76,823		1.2	%		1,669,228		1.7	%		21.73
2014		16		60,352		0.9	%		1,229,775		1.3	%		20.38
2015		19		64,394		0.9	%		1,445,370		1.5	%		22.45
Thereafter		58		201,146		3.1	%		4,327,652		4.4	%		21.51
Sub-total / average		2,631		5,846,128		91.3	%		97,123,694		100.0	%	$	16.61
Vacant		324		559,846		8.7	%		NA		NA			NA
Total / average		2,955		6,405,974		100.0	%	$	97,123,694		100.0	%	$	15.16

Note: Excludes 29 unconsolidated properties, four development parcels and seven non-retail properties.

Page 44

EQUITY ONE, INC. AND SUBSIDIARIES

REAL ESTATE DEVELOPMENTS AND REDEVELOPMENTS

As of September 30, 2006

(in thousands, except square footage data)

Project	Location	Project Description	Target Completion Date	Estimated Cost Including Land	Funded as of 09/30/2006	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.	Finishing lease-up	$ 835	$ 681	$ 154
Westridge	McDonough, GA	Completed 66,297 sf Publix anchored center and currently leasing the balance of the space.	Finishing lease-up	2,226	2,121	105
Winchester Plaza	Huntsville, AL	Completed 75,000 sf Publix anchored center and currently leasing the balance of the space.	Finishing lease-up	4,006	3,477	529
Subtotal - Developments				7,067	6,279	788
Major Redevelopments
Brookside Plaza	Enfield, CT	Redeveloping existing shopping center and reconfigure 25,000 sf of the exisitng center.	First quarter 2007	7,395	6,068	1,327
Chapel Trail	Pembroke Pines, FL	Reconfigure 51,703 sf of the exisitng center.	Third quarter 2007	10,976	8,391	2,585
Chestnut Square	Brevard, NC	Redeveloping existing shopping center.	Second quarter 2007	4,549	1,837	2,712
Hunters Creek	Orlando, FL	Reconfigure the former Winn Dixie space into mult-tenant retail.	Second quarter 2007	6,964	5,673	1,291
Mandarin Landing	Jacksonville, FL	Reconfigure the former Publix space into a new Whole Foods and add 4,500 sq ft of retail space.	Fourth quarter 2007	7,622	-	7,622
Stanley Market Place	Stanley, NC	Reconfigure the former Winn Dixie into a new Food Lion and add 7,000 sq ft of retail space.	Third quarter 2007	5,483	1,092	4,391
Spalding	Griffin, GA	Reconfigure 66,146 sf of the exisitng center.	TBD	2,421	2,421	-
Sunpoint	Ruskin, FL	Reconfigure 30,295 sf of the exisitng center.	First quarter 2008	2,703	1,703	1,000
Wesley Chapel	Decatur, GA	Reconfigure the former WalMart space into multi-tenant space; prospecting for new tenants.	TBD	5,072	5,072	-
Subtotal - Major Redevelopments				53,185	32,257	20,928
Out parcels/ Other Developments/Expansions
Belfair Towne Village	Bluffton, SC	Lease up a sf retail center, expansion of our Belfair Towne Village.	Finishing lease-up	1,022	235	787
Deep Creek	Fairburn, GA	101 acre mixed-use development project.	TBD	8,191	8,191	-
Dolphin Village	St Pete Beach, FL	Future mixed-use development.	TBD	11,059	11,059	-
Piedmont Peachtree	Buckhead, GA	Future mixed-use development.	TBD	15,085	15,085	-
River Green	Canton, GA	9.2 acres held for future development. Prospecting for tenant(s).	TBD	2,764	2,764	-
Riverview	Durham, NC	Construction of additional 5,000 sq ft out parcel building has commenced.	Fourth quarter 2006	770	632	138
Seven Hills	Spring Hill, FL	Construction of additional 8,400 sq ft of retail space at an existing property.	Third quarter 2006	984	864	120
Sunlake	Tampa, FL	155 acre mixed-use development project.	TBD	7,182	7,182	-
West Roxbury	West Roxbury, MA	Lease up new 8,000 sq ft out parcel building.	Finishing lease-up	376	331	45
Windy Hill	North Myrtle Beach, SC	Lease up new 4,000 sq ft out parcel building.	Finishing lease-up	250	215	35
Young Circle	Hollywood, FL	Future mixed-use development.	TBD	10,489	10,489	-
Subtotal - Out parcels/ Other Developments/Expansions				58,172	57,047	1,125
All other development activity				3,756	3,756	-
Total - Development Activity				$122,180	$99,339	$22,841

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EQUITY ONE, INC. AND SUBSIDIARIES

REAL ESTATE ACQUISITIONS AND DISPOSITIONS

As of September 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
Apr. 26, 2006	Chestnut Square out parcel	Brevard	NC	1,070	475
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
Aug. 25, 2006	Milestone Plaza	Greenville	SC	93,655	20,200
Aug. 31, 2006	Shoppes at Quail Roost	Miami	FL	73,550	15,435
Sep. 1, 2006	Coral Reef Shopping Center	Palmetto Bay	FL	74,680	21,200
Sep. 14, 2006	Cutler Ridge	Miami	FL	6,897	1,350
Sep. 14, 2006	Westport out parcels (2)	Davie	FL	9,768	2,200
Total					$ 198,348
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. 25, 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. 25, 2006	6 Texas land parcels*	Various	TX		15,513	5,082
July 31, 2006	Crossroads (Lowe's)	Pembroke Pines	FL	177,929	7,678	2,168
Sep. 29, 2006	River Green land parcel	Canton	GA	2.0 Acres	1,500	396
Sale of non-depreciable property					26,149	8,165
Total					$ 415,658	$ 101,361
Properties Held for Sale as of September 30, 2006
	Property Name	City	State
	Louisiana Portfolio (14 properties)	Various	LA
	Winchester	Huntsville	AL
**	Salerno Village	Stuart	FL
**	Sunlake land parcel	Tampa	FL

* 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 September 30, 2006

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

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

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