Strong Same Property NOI Growth
Regency Centers reported a same property NOI growth of 4.3%, primarily driven by growth in base rent.
Foot Traffic Increase
Foot traffic increased by 7% year-over-year in April, indicating strong consumer engagement and activity at shopping centers.
Successful Acquisition
Acquisition of Brentwood Place in Brentwood, Tennessee, a high-quality asset with significant mark-to-market leasing opportunities, contributing to a high single-digit IRR.
Development and Redevelopment Execution
Successful execution of $500 million in development and redevelopment projects, with blended returns exceeding 9%.
A- Credit Rating Upgrade
Regency Centers received an A- credit rating upgrade from S&P, following an A3 rating by Moody's, the only A ratings in the shopping center REIT sector.
Reaffirmed 2025 Earnings Outlook
Reaffirmation of 2025 earnings outlook, with an implied growth in NAREIT FFO of nearly 6% and same property NOI growth of 3.6% at the midpoint of guidance.