Real Estate Investments (Tables)

3 Months Ended

Mar. 31, 2017

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

The following table details the provisional weighted average amortization and net accretion periods, in years, of the major classes of intangible assets and intangible liabilities arising from the Equity One merger:



(in years)		Weighted Average Amortization Period
Assets:
In-place leases		10.6
Above-market leases		9.5
Below-market ground leases		44.9
Liabilities:
Acquired lease intangible liabilities		22.3

Business Acquisition, Pro Forma Information [Table Text Block]

Pro forma Information

The following unaudited pro forma financial data includes the incremental revenues, operating expenses, depreciation and amortization, and costs of the Equity One acquisition as if it had occurred on January 1, 2016:



		Pro forma (Unaudited)
		Three months ended March 31,
(in thousands, except per share data)		2017	2016
Total revenues		265,174	250,042
Income (loss) from operations	⁽¹⁾	67,397	(51,437	)
Net income (loss) attributable to common stockholders	⁽¹⁾	54,809	(57,012	)
Income (loss) per common share - basic		0.32	(0.35	)
Income (loss) per common share - diluted		0.32	(0.35	)

The consolidated net assets and results of operations of Equity One are included in the consolidated financial statements from the closing date, March 1, 2017, going forward and resulted in the following impact to Revenues and Net income attributable to common stockholders for the three months ended March 31, 2017:



		March 31, 2017
(in thousands)		Three months ended
Increase in total revenues	$	34,936
Increase (decrease) in net income attributable to common stockholders ⁽¹⁾		(22,296	)

⁽¹⁾ Includes $69.8 million of transaction costs during the three months ended March 31, 2017, which are recorded in Other operating expenses in the accompanying Consolidated Statements of Operations.

Schedule of business acquisitions

The following table provides the components that make up the total purchase price for the Equity One merger:



(in thousands, except stock price)	Purchase Price
Shares of common stock issued for merger	65,495
Closing stock price on March 1, 2017	$	68.40
Value of common stock issued for merger	$	4,471,808
Debt repaid	716,278
Other cash payments	5,019
Total purchase price	$	5,193,105

The following table details the shopping centers acquired or land acquired or leased for development:



(in thousands)		Three months ended March 31, 2017
Date Purchased	Property Name	City/State	Property Type	Ownership	Purchase Price	Debt Assumed, Net of Premiums	Intangible Assets	Intangible Liabilities
3/6/17	The Field at Commonwealth	Chantilly, VA	Development	100%	$9,500	—	—	—
3/8/17	Pinecrest Place ⁽¹⁾	Miami, FL	Development	100%	—	—	—	—
					$9,500	—	—	—
⁽¹⁾ The Company leased 10.67 acres for a ground up development.
(in thousands)		Three months ended March 31, 2016
Date Purchased	Property Name	City/State	Property Type	Ownership	Purchase Price	Debt Assumed, Net of Premiums	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	—	—	—
Total property acquisitions					$35,294	—	10,171	2,940
⁽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 in Limited partners' interests in consolidated partnerships in the accompanying Consolidated Balance Sheets.

The following table summarizes the provisional purchase price allocation based on the Company's initial valuation, including estimates and assumptions of the acquisition date fair value of the tangible and intangible assets acquired and liabilities assumed:



(in thousands)	Preliminary Purchase Price Allocation
Land	$	3,093,797
Building and improvements	2,802,319
Properties in development	70,179
Properties held for sale	19,600
Investments in unconsolidated real estate partnerships	103,566
Real estate assets	6,089,461
Cash, accounts receivable and other assets	112,211
Intangible assets	500,645
Total assets acquired	6,702,317

Notes payable	757,399
Accounts payable, accrued expenses, and other liabilities	120,370
Lease intangible liabilities	631,443
Total liabilities assumed	1,509,212

Total purchase price	$	5,193,105