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Exhibit 10.20

FIRST AMENDMENT TO
SECOND AMENDED AND RESTATED
AGREEMENT OF LIMITED PARTNERSHIP
OF
EXCEL REALTY PARTNERS, L.P.

        THIS FIRST AMENDMENT TO SECOND AMENDED AND RESTATED AGREEMENT OF LIMITED
PARTNERSHIP OF EXCEL REALTY PARTNERS, L.P., dated as of December 7, 2004
("Amendment"), is entered into by New Plan DRP Trust (the "General Partner"), a
Maryland real estate investment trust, as the general partner of Excel Realty
Partners, L.P. (the "Partnership").

        WHEREAS, the Partnership was formed pursuant to that certain Agreement
of Limited Partnership of Excel Realty Partners, L.P., dated as of April 24,
1995, as amended by that certain First Amendment to the Agreement of Limited
Partnership of Excel Realty Partners, L.P., dated as of December 31, 1995 and
amended in its entirety by that certain Amended and Restated Agreement of
Limited Partnership dated as of June 25, 1997, as amended by that certain First
Amendment to the Amended and Restated Agreement of Limited Partnership Excel
Realty Partners, L.P., dated as of August 20, 1999 and further amended in its
entirety by that certain Second Amended and Restated Agreement of Limited
Partnership dated as of May 19, 2003 (the "Partnership Agreement"); and

        WHEREAS, pursuant to Section 7.3.C of the Partnership Agreement, the
General Partner has been granted the authority, without the Consent of the
Limited Partners, to amend the Partnership Agreement to, among other things,
(i) add to the obligations of the General Partner or surrender any right or
power granted to the General Partner or any Affiliate of the General Partner for
the benefit of the Limited Partners and (ii) to reflect a change that is of an
inconsequential nature and does not adversely affect the Limited Partners in any
material respect, or to cure any ambiguity, correct or supplement any provision
in the Partnership Agreement not inconsistent with law or with other provisions,
or make other changes with respect to matters arising under the Partnership
Agreement that will not be inconsistent with law or with the provisions of the
Partnership Agreement; and

        WHEREAS, pursuant to the authority granted to the General Partner in
Section 7.3.C of the Partnership Agreement, the General Partner has determined
it is desirable to amend, in the manner set forth below, Section 4.3 of the
Partnership Agreement.

        NOW, THEREFORE, in consideration of the premises and for other good and
valuable consideration, the receipt and sufficiency of which hereby are
acknowledged, the General Partner hereby amends the Partnership Agreement, as
follows:

        1.     Section 4.3 of the Partnership Agreement is hereby amended by
deleting such section in its entirety and inserting in lieu thereof, the
following:

Section 4.3    Loans by Third Parties

        The Partnership may incur or assume Debt, or enter into other similar
credit, guarantee, financing or refinancing arrangements, for any purpose
(including, without limitation, in connection with any further acquisition of
Properties from any Person), upon such terms as the General Partner determines
appropriate; provided, however, that the Partnership shall not incur or assume
any Debt under which a breach, violation or default would be deemed to occur by
virtue of the Transfer of any Limited Partner Interest (other than any Limited
Partner Interest held by the General Partner or an Affiliate of the General
Partner); provided, further, that any Debt shall be nonrecourse to the General
Partner unless the General Partner otherwise agrees.

        2.     All capitalized terms used herein and not otherwise defined shall
have the meanings ascribed to them in the Partnership Agreement.

        3.     Except as modified herein, all terms and conditions of the
Partnership Agreement shall remain in full force and effect, which terms and
conditions the General Partner hereby ratifies and affirms.

[SIGNATURES APPEAR ON FOLLOWING PAGE]

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        IN WITNESS WHEREOF, the undersigned has executed this First Amendment as
of the date first set forth above.

  NEW PLAN DRP TRUST,
    as general partner
 
By:
/s/ Steven F. Siegel

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  Name: Steven F. Siegel

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  Title: Executive Vice President

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FIRST AMENDMENT TO SECOND AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP
OF EXCEL REALTY PARTNERS, L.P.