Real Estate Investments (Tables)

6 Months Ended

Jun. 30, 2016

Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]

The following table details the weighted average amortization and net accretion periods, in years, of the major classes of intangible assets and intangible liabilities arising from the Market Common Clarendon acquisition:



		Six months ended
(in years)		June 30, 2016
Assets:
In-place leases		7.4

Liabilities:
Acquired lease intangible liabilities		7.9

Business Acquisition, Pro Forma Information [Table Text Block]

The results of operations from the acquisition of Market Common Clarendon are included in the Consolidated Statements of Operations beginning on the acquisition date and resulted in the following impact to Revenues and Net income attributable to common stockholders for the three and six months ended June 30, 2016, as follows:



	June 30, 2016
(in thousands)	Three months ended		Six months ended
Increase in total revenues	$	2,287	2,287
Decrease in net income attributable to common stockholders ⁽¹⁾	1,299		1,619

⁽¹⁾ Includes $1.1 million and $1.4 million of transaction costs during the three and six months ended June 30, 2016, respectively, which are recorded in Other operating expenses in the accompanying Consolidated Statements of Operations.

The following unaudited pro forma financial data includes the incremental revenues, operating expenses, depreciation and amortization, and costs of financing the Market Common Clarendon acquisition as if it had occurred on January 1, 2015:



		(Pro Forma)			(Pro Forma)
		Three months ended June 30,			Six months ended June 30,
(in thousands, except per share data)		2016		2015	2016	2015
Total revenues		$	155,285	146,091	309,794	291,365
Income from operations	⁽¹⁾	42,290		33,718	84,210	63,545
Net income attributable to common stockholders	⁽¹⁾	37,004		33,575	86,093	58,388
Income per common share - basic		$	0.37	0.35	0.87	0.61
Income per common share - diluted		0.37		0.35	0.86	0.61

⁽¹⁾ The pro forma earnings for the three and six months ended June 30, 2016 were adjusted to exclude $1.1 million and $1.4 million, respectively, of acquisition costs, while 2015 pro forma earnings were adjusted to include those costs during the first quarter of 2015.

The pro forma financial data is not necessarily indicative of what the actual results of operations would have been assuming the transaction had been completed as set forth above, nor does it purport to represent the results of operations for future periods.

Schedule of business acquisitions

There were no shopping centers or land acquired during the six months ended June 30, 2015.

(in thousands)

Six months ended June 30, 2016

Date Purchased

Property Name

City/State

Property Type

Ownership

Purchase Price

Intangible Assets

Intangible Liabilities

2/22/16

Garden City Park

Garden City Park, NY

Operating

100%

$17,300

10,171

2,940

3/4/16

The Market at Springwoods Village ⁽¹⁾

Houston, TX

Development

53%

17,994

—

5/16/16

Market Common Clarendon ⁽²⁾

Arlington, VA

Operating

100%

280,500

15,428

15,662

Total property acquisitions

$315,794

25,599

18,602

⁽¹⁾ Regency acquired a 53% controlling interest in the Market at Springwoods Village partnership to develop a shopping center on land contributed by the partner. As a result of consolidation, the Company recorded the partner's non-controlling interest of $8.4 million.

⁽²⁾Market Common Clarendon is a mixed-use center containing retail, residential and office space, along with income producing parking garages. The residential component is owned by a third party