|        |
|--------|
|        |
|   |

|   |
|---|
|   |  |
| x | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |

|   |
|---|
|   |  |
| o | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |

|                                                                |
|----------------------------------------------------------------|
|                                                                |  |  |
| FLORIDA (REGENCY CENTERS CORPORATION)                          |   | 59-3191743 |
| DELAWARE (REGENCY CENTERS, L.P)                                |   | 59-3429602 |
| (State or other jurisdiction of incorporation or organization) |   | (I.R.S. Employer Identification No.) |
|                                                           |   |   |
| One Independent Drive, Suite 114Jacksonville, Florida 32202    |   | (904) 598-7000 |
| (Address of principal executive offices) (zip code)            |   | (Registrant's telephone number, including area code) |

|                                   |
|-----------------------------------|
|                                   |  |  |  |  |
| Large accelerated filer | x |   | Accelerated filer | o |
| Non-accelerated filer             | o |   | Smaller reporting company | o |

|                                   |
|-----------------------------------|
|                                   |  |  |  |  |
| Large accelerated filer | o |    | Accelerated filer | x |
| Non-accelerated filer             | o |    | Smaller reporting company | o |

|        |
|--------|
|        |
|   |

----

|         |                                                                                                                                                                                                                           |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | enhances investors' understanding of the Parent Company and the Operating Partnership by enabling investors to view the business as a whole in the same manner as management views and operates the business;   |

|         |                                                                                                                   |
|---------|-------------------------------------------------------------------------------------------------------------------|
| • | eliminates duplicative disclosure and provides a more streamlined and readable presentation; and   |

|         |                                                                                                                          |
|---------|--------------------------------------------------------------------------------------------------------------------------|
| • | creates time and cost efficiencies through the preparation of one combined report instead of two separate reports.  |

----

|                                |
|--------------------------------|
|                                |  |  |
|                           |   | Form 10-QReport Page |
|                           |   |   |
| PART I - FINANCIAL INFORMATION |   |
|                           |   |   |
| Item 1.                        | Financial Statements |   |
|                           |   |   |
| Regency Centers Corporation:   |   |
|                           |   |   |
|                           | Consolidated Balance Sheets as of September 30, 2011 and December 31, 2010 | 1 |
|                           |   |   |
|                           | Consolidated Statements of Operations for the periods ended September 30, 2011 and 2010 | 2 |
|                           |   |   |
|                           | Consolidated Statements of Equity and Comprehensive Income (Loss) for the nine months ended September 30, 2011 and 2010 | 3 |
|                           |   |   |
|                           | Consolidated Statements of Cash Flows for the nine months ended September 30, 2011 and 2010 | 4 |
|                           |   |   |
| Regency Centers, L.P.:         |   |
|                           |   |   |
|                           | Consolidated Balance Sheets as of September 30, 2011 and December 31, 2010 | 6 |
|                           |   |   |
|                           | Consolidated Statements of Operations for the periods ended September 30, 2011 and 2010 | 7 |
|                           |   |   |
|                           | Consolidated Statements of Capital and Comprehensive Income (Loss) for the nine months ended September 30, 2011 and 2010 | 8 |
|                           |   |   |
|                           | Consolidated Statements of Cash Flows for the nine months ended September 30, 2011 and 2010 | 9 |
|                           |   |   |
|                           | Notes to Consolidated Financial Statements | 11 |
|                           |   |   |
| Item 2.                        | Management's Discussion and Analysis of Financial Condition and Results of Operations | 22 |
|                           |   |   |
| Item 3.                        | Quantitative and Qualitative Disclosures about Market Risk | 35 |
|                           |   |   |
| Item 4.                        | Controls and Procedures | 35 |
|                           |   |   |
| PART II - OTHER INFORMATION    |   |
|                           |   |   |
| Item 1.                        | Legal Proceedings | 36 |
|                           |   |   |
| Item 1A.                       | Risk Factors | 36 |
|                           |   |   |
| Item 2.                        | Unregistered Sales of Equity Securities and Use of Proceeds | 36 |
|                           |   |   |
| Item 3.                        | Defaults Upon Senior Securities | 36 |
|                           |   |   |
| Item 4.                        | (Removed and Reserved) | 36 |
|                           |   |   |
| Item 5.                        | Other Information | 36 |
|                           |   |   |
| Item 6.                        | Exhibits | 37 |
|                           |   |   |
| SIGNATURES                     | 39 |
|                           |   |   |
|                           |   |   |

----

|              |                      |
|--------------|----------------------|
| Item 1. | Financial Statements |

|                                                                                                                                                                                                                             |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                                             |  |  |  |  |  |  |
|                                                                                                                                                                                                                        |   | 2011 |   | 2010 |
| Assets                                                                                                                                                                                                                      |   | (unaudited) |   |   |
| Real estate investments at cost:                                                                                                                                                                                            |   |   |   |   |
| Land                                                                                                                                                                                                                        | $ | 1,167,152 |  |   | 1,093,700 |  |
| Buildings and improvements                                                                                                                                                                                                  |   | 2,462,234 |  |   | 2,284,522 |  |
| Properties in development                                                                                                                                                                                                   |   | 521,945 |  |   | 610,932 |  |
|                                                                                                                                                                                                                        |   | 4,151,331 |  |   | 3,989,154 |  |
| Less: accumulated depreciation                                                                                                                                                                                              |   | 769,829 |  |   | 700,878 |  |
|                                                                                                                                                                                                                        |   | 3,381,502 |  |   | 3,288,276 |  |
| Investments in real estate partnerships                                                                                                                                                                                     |   | 425,460 |  |   | 428,592 |  |
| Net real estate investments                                                                                                                                                                                                 |   | 3,806,962 |  |   | 3,716,868 |  |
| Cash and cash equivalents                                                                                                                                                                                                   |   | 21,195 |  |   | 22,460 |  |
| Accounts receivable, net of allowance for doubtful accounts of $3,862 and $4,819 at September 30, 2011 and December 31, 2010, respectively                                                                             |   | 29,243 |  |   | 36,600 |  |
| Straight-line rent receivable, net of allowance of $2,087 and $1,396 at September 30, 2011 and December 31, 2010, respectively                                                                                         |   | 48,327 |  |   | 45,241 |  |
| Notes receivable                                                                                                                                                                                                            |   | 35,931 |  |   | 35,931 |  |
| Deferred costs, less accumulated amortization of $68,656 and $69,158 at September 30, 2011 and December 31, 2010, respectively                                                                                         |   | 70,006 |  |   | 63,165 |  |
| Acquired lease intangible assets, less accumulated amortization of $14,562 and $13,996 at September 30, 2011 and December 31, 2010, respectively                                                                       |   | 26,855 |  |   | 18,219 |  |
| Trading securities held in trust, at fair value                                                                                                                                                                             |   | 20,683 |  |   | 20,891 |  |
| Other assets                                                                                                                                                                                                                |   | 36,419 |  |   | 35,164 |  |
| Total assets                                                                                                                                                                                                                | $ | 4,095,621 |  |   | 3,994,539 |  |
| Liabilities and Equity                                                                                                                                                                                                      |   |   |   |   |
| Liabilities:                                                                                                                                                                                                                |   |   |   |   |
| Notes payable                                                                                                                                                                                                               | $ | 1,965,340 |  |   | 2,084,469 |  |
| Unsecured line of credit                                                                                                                                                                                                    |   | 85,000 |  |   | 10,000 |  |
| Accounts payable and other liabilities                                                                                                                                                                                      |   | 114,873 |  |   | 138,196 |  |
| Acquired lease intangible liabilities, less accumulated accretion of $4,399 and $11,010 at September 30, 2011 and December 31, 2010, respectively                                                                      |   | 13,694 |  |   | 6,682 |  |
| Tenants’ security and escrow deposits and prepaid rent                                                                                                                                                                |   | 19,240 |  |   | 10,790 |  |
| Total liabilities                                                                                                                                                                                                           |   | 2,198,147 |  |   | 2,250,137 |  |
| Commitments and contingencies                                                                                                                                                                                               |   |  |   |  |
| Equity:                                                                                                                                                                                                                     |   |   |   |   |
| Stockholders’ equity:                                                                                                                                                                                                 |   |   |   |   |
| Preferred stock, $.01 par value per share, 30,000,000 shares authorized; 11,000,000 Series 3-5 shares issued and outstanding at September 30, 2011 and December 31, 2010 with liquidation preferences of $25 per share |   | 275,000 |  |   | 275,000 |  |
| Common stock $.01 par value per share, 150,000,000 shares authorized; 89,913,234 and 81,886,872 shares issued at September 30, 2011 and December 31, 2010, respectively                                                |   | 899 |  |   | 819 |  |
| Treasury stock at cost, 334,188  and 347,482 shares held at September 30, 2011 and December 31, 2010, respectively                                                                                                          |   | (15,028 | ) |   | (16,175 | ) |
| Additional paid in capital                                                                                                                                                                                                  |   | 2,278,753 |  |   | 2,039,612 |  |
| Accumulated other comprehensive loss                                                                                                                                                                                        |   | (73,800 | ) |   | (80,885 | ) |
| Distributions in excess of net income                                                                                                                                                                                       |   | (629,626 | ) |   | (533,194 | ) |
| Total stockholders’ equity                                                                                                                                                                                            |   | 1,836,198 |  |   | 1,685,177 |  |
| Noncontrolling interests:                                                                                                                                                                                                   |   |   |   |   |
| Series D preferred units, aggregate redemption value of $50,000 at September 30, 2011 and December 31, 2010                                                                                                            |   | 49,158 |  |   | 49,158 |  |
| Exchangeable operating partnership units, aggregate redemption value of $6,259 and $7,483 at September 30, 2011 and December 31, 2010, respectively                                                                    |   | (917 | ) |   | (762 | ) |
| Limited partners’ interests in consolidated partnerships                                                                                                                                                              |   | 13,035 |  |   | 10,829 |  |
| Total noncontrolling interests                                                                                                                                                                                              |   | 61,276 |  |   | 59,225 |  |
| Total equity                                                                                                                                                                                                                |   | 1,897,474 |  |   | 1,744,402 |  |
| Total liabilities and equity                                                                                                                                                                                                | $ | 4,095,621 |  |   | 3,994,539 |  |

----

|                                                                                  |
|----------------------------------------------------------------------------------|
|                                                                                  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                             |   | Three months ended |   | Nine months ended |
|                                                                             |   | September 30, |   | September 30, |
|                                                                             |   | 2011 |   | 2010 |   | 2011 |   | 2010 |
| Revenues:                                                                        |   |   |   |   |   |   |   |   |
| Minimum rent                                                                     | $ | 90,129 |  |   | 86,486 |  | $ | 268,169 |  |   | 257,389 |  |
| Percentage rent                                                                  |   | 430 |  |   | 400 |  |   | 1,488 |  |   | 1,023 |  |
| Recoveries from tenants and other income                                         |   | 28,248 |  |   | 27,383 |  |   | 83,040 |  |   | 83,150 |  |
| Management, transaction, and other fees                                          |   | 6,940 |  |   | 6,524 |  |   | 26,993 |  |   | 22,974 |  |
| Total revenues                                                                   |   | 125,747 |  |   | 120,793 |  |   | 379,690 |  |   | 364,536 |  |
| Operating expenses:                                                              |   |   |   |   |   |   |   |   |
| Depreciation and amortization                                                    |   | 33,166 |  |   | 30,181 |  |   | 100,006 |  |   | 92,324 |  |
| Operating and maintenance                                                        |   | 18,101 |  |   | 17,147 |  |   | 55,106 |  |   | 51,521 |  |
| General and administrative                                                       |   | 11,671 |  |   | 17,761 |  |   | 43,801 |  |   | 45,734 |  |
| Real estate taxes                                                                |   | 13,533 |  |   | 13,788 |  |   | 42,163 |  |   | 42,267 |  |
| Provision for doubtful accounts                                                  |   | 326 |  |   | 248 |  |   | 2,534 |  |   | 2,634 |  |
| Other expenses (income)                                                          |   | 1,901 |  |   | 2,380 |  |   | 1,737 |  |   | 4,071 |  |
| Total operating expenses                                                         |   | 78,698 |  |   | 81,505 |  |   | 245,347 |  |   | 238,551 |  |
| Other expense (income):                                                          |   |   |   |   |   |   |   |   |
| Interest expense, net of interest income                                         |   | 30,867 |  |   | 32,209 |  |   | 92,297 |  |   | 91,972 |  |
| Gain on sale of properties in development                                        |   | — |  |   | (479 | ) |   | — |  |   | (1,044 | ) |
| Provision for impairment                                                         |   | 6,362 |  |   | — |  |   | 6,362 |  |   | — |  |
| Loss (income) from deferred compensation plan                                    |   | 2,283 |  |   | (1,398 | ) |   | 1,395 |  |   | (1,026 | ) |
| Gain on derivative instruments                                                   |   | — |  |   | (2,341 | ) |   | — |  |   | (1,419 | ) |
| Total other expense (income)                                                     |   | 39,512 |  |   | 27,991 |  |   | 100,054 |  |   | 88,483 |  |
| Income before equity in income (loss) of investments in real estate partnerships |   | 7,537 |  |   | 11,297 |  |   | 34,289 |  |   | 37,502 |  |
| Equity in income (loss) of investments in real estate partnerships               |   | 4,825 |  |   | 2,102 |  |   | 4,788 |  |   | (8 | ) |
| Income from continuing operations                                                |   | 12,362 |  |   | 13,399 |  |   | 39,077 |  |   | 37,494 |  |
| Discontinued operations, net:                                                    |   |   |   |   |   |   |   |   |
| Operating (loss) income                                                          |   | (142 | ) |   | 470 |  |   | 210 |  |   | 756 |  |
| Gain on sale of operating properties and properties in development               |   | 2,321 |  |   | 4 |  |   | 2,321 |  |   | 6,767 |  |
| Income from discontinued operations                                              |   | 2,179 |  |   | 474 |  |   | 2,531 |  |   | 7,523 |  |
| Net income                                                                       |   | 14,541 |  |   | 13,873 |  |   | 41,608 |  |   | 45,017 |  |
| Noncontrolling interests:                                                        |   |   |   |   |   |   |   |   |
| Preferred units                                                                  |   | (931 | ) |   | (931 | ) |   | (2,794 | ) |   | (2,794 | ) |
| Exchangeable operating partnership units                                         |   | (27 | ) |   | (34 | ) |   | (77 | ) |   | (155 | ) |
| Limited partners’ interests in consolidated partnerships                   |   | (154 | ) |   | (95 | ) |   | (425 | ) |   | (271 | ) |
| Net income attributable to noncontrolling interests                              |   | (1,112 | ) |   | (1,060 | ) |   | (3,296 | ) |   | (3,220 | ) |
| Net income attributable to controlling interests                                 |   | 13,429 |  |   | 12,813 |  |   | 38,312 |  |   | 41,797 |  |
| Preferred stock dividends                                                        |   | (4,919 | ) |   | (4,919 | ) |   | (14,756 | ) |   | (14,756 | ) |
| Net income attributable to common stockholders                                   | $ | 8,510 |  |   | 7,894 |  | $ | 23,556 |  |   | 27,041 |  |
| Income per common share - basic:                                                 |   |   |   |   |   |   |   |   |
| Continuing operations                                                            | $ | 0.07 |  |   | 0.09 |  | $ | 0.23 |  |   | 0.24 |  |
| Discontinued operations                                                          |   | 0.02 |  |   | 0.01 |  |   | 0.03 |  |   | 0.09 |  |
| Net income attributable to common stockholders                                   | $ | 0.09 |  |   | 0.10 |  | $ | 0.26 |  |   | 0.33 |  |
| Income per common share - diluted:                                               |   |   |   |   |   |   |   |   |
| Continuing operations                                                            | $ | 0.07 |  |   | 0.09 |  | $ | 0.23 |  |   | 0.23 |  |
| Discontinued operations                                                          |   | 0.02 |  |   | — |  |   | 0.03 |  |   | 0.09 |  |
| Net income attributable to common stockholders                                   | $ | 0.09 |  |   | 0.09 |  | $ | 0.26 |  |   | 0.32 |  |

----

|                                                                            |
|----------------------------------------------------------------------------|
|                                                                            |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | Noncontrolling Interests |   |   |
|                                                                       |   | PreferredStock |   | CommonStock |   | TreasuryStock |   | AdditionalPaid InCapital |   | AccumulatedOtherComprehensiveLoss |   | Distributionsin Excess ofNet Income |   | TotalStockholders’Equity |   | Preferred Units |   | ExchangeableOperatingPartnershipUnits |   | LimitedPartners’Interest  inConsolidatedPartnerships |   | TotalNoncontrollingInterests |   | TotalEquity |
| Balance at December 31, 2009                                          | $ | 275,000 |  |   | 815 |  |   | (16,509 | ) |   | 2,024,883 |  |   | (49,973 | ) |   | (371,837 | ) |   | 1,862,379 |  |   | 49,158 |  |   | 7,321 |  |   | 11,748 |  |   | 68,227 |  |   | 1,930,606 |  |
| Comprehensive income:                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net income                                                                 |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | 41,797 |  |   | 41,797 |  |   | 2,794 |  |   | 155 |  |   | 271 |  |   | 3,220 |  |   | 45,017 |  |
| Amortization of loss on derivative instruments                             |   | — |  |   | — |  |   | — |  |   | — |  |   | 3,202 |  |   | — |  |   | 3,202 |  |   | — |  |   | 7 |  |   | — |  |   | 7 |  |   | 3,209 |  |
| Change in fair value of derivative instruments                             |   | — |  |   | — |  |   | — |  |   | — |  |   | (36,472 | ) |   | — |  |   | (36,472 | ) |   | — |  |   | (84 | ) |   | — |  |   | (84 | ) |   | (36,556 | ) |
| Total comprehensive income                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   | 8,527 |  |   |   |   |   |   |   |   | 3,143 |  |   | 11,670 |  |
| Deferred compensation plan, net                                            |   | — |  |   | — |  |   | 506 |  |   | (384 | ) |   | — |  |   | — |  |   | 122 |  |   | — |  |   | — |  |   | — |  |   | — |  |   | 122 |  |
| Restricted stock issued, net of amortization                               |   | — |  |   | — |  |   | — |  |   | 5,138 |  |   | — |  |   | — |  |   | 5,138 |  |   | — |  |   | — |  |   | — |  |   | — |  |   | 5,138 |  |
| Common stock redeemed for taxes withheld for stock based compensation, net |   | — |  |   | — |  |   | — |  |   | (1,338 | ) |   | — |  |   | — |  |   | (1,338 | ) |   | — |  |   | — |  |   | — |  |   | — |  |   | (1,338 | ) |
| Common stock issued for dividend reinvestment plan                         |   | — |  |   | 1 |  |   | — |  |   | 1,593 |  |   | — |  |   | — |  |   | 1,594 |  |   | — |  |   | — |  |   | — |  |   | — |  |   | 1,594 |  |
| Common stock issued for stock offerings, net of issuance costs             |   | — |  |   | 3 |  |   | — |  |   | 7,308 |  |   | — |  |   | — |  |   | 7,311 |  |   | — |  |   | (7,311 | ) |   | — |  |   | (7,311 | ) |   | — |  |
| Contributions from partners                                                |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | 161 |  |   | 161 |  |   | 161 |  |
| Distributions to partners                                                  |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | (1,363 | ) |   | (1,363 | ) |   | (1,363 | ) |
| Cash dividends declared:                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Preferred stock/unit                                                       |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | (14,756 | ) |   | (14,756 | ) |   | (2,794 | ) |   | — |  |   | — |  |   | (2,794 | ) |   | (17,550 | ) |
| Common stock/unit ($1.3875 per share)                                      |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | (113,033 | ) |   | (113,033 | ) |   | — |  |   | (373 | ) |   | — |  |   | (373 | ) |   | (113,406 | ) |
| Balance at September 30, 2010                                              | $ | 275,000 |  |   | 819 |  |   | (16,003 | ) |   | 2,037,200 |  |   | (83,243 | ) |   | (457,829 | ) |   | 1,755,944 |  |   | 49,158 |  |   | (285 | ) |   | 10,817 |  |   | 59,690 |  |   | 1,815,634 |  |
|                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance at December 31, 2010                                          | $ | 275,000 |  |   | 819 |  |   | (16,175 | ) |   | 2,039,612 |  |   | (80,885 | ) |   | (533,194 | ) |   | 1,685,177 |  |   | 49,158 |  |   | (762 | ) |   | 10,829 |  |   | 59,225 |  |   | 1,744,402 |  |
| Comprehensive income:                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net income                                                                 |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | 38,312 |  |   | 38,312 |  |   | 2,794 |  |   | 77 |  |   | 425 |  |   | 3,296 |  |   | 41,608 |  |
| Amortization of loss on derivative instruments                             |   | — |  |   | — |  |   | — |  |   | — |  |   | 7,085 |  |   | — |  |   | 7,085 |  |   | — |  |   | 14 |  |   | — |  |   | 14 |  |   | 7,099 |  |
| Total comprehensive income                                                 |   |  |   |   |   |   |   |   |   |   |   |   |   | 45,397 |  |   |   |   |   |   |   |   | 3,310 |  |   | 48,707 |  |
| Deferred compensation plan, net                                            |   | — |  |   | — |  |   | 1,147 |  |   | 16,696 |  |   | — |  |   | — |  |   | 17,843 |  |   | — |  |   | — |  |   | — |  |   | — |  |   | 17,843 |  |
| Restricted stock issued, net of amortization                               |   | — |  |   | — |  |   | — |  |   | 8,087 |  |   | — |  |   | — |  |   | 8,087 |  |   | — |  |   | — |  |   | — |  |   | — |  |   | 8,087 |  |
| Common stock redeemed for taxes withheld for stock based compensation, net |   | — |  |   | — |  |   | — |  |   | (1,752 | ) |   | — |  |   | — |  |   | (1,752 | ) |   |  |  |   |  |  |   |  |  |   | — |  |   | (1,752 | ) |
| Common stock issued for dividend reinvestment plan                         |   | — |  |   | — |  |   | — |  |   | 821 |  |   | — |  |   | — |  |   | 821 |  |   | — |  |   | — |  |   | — |  |   | — |  |   | 821 |  |
| Common stock issued for stock offerings, net of issuance costs             |   | — |  |   | 80 |  |   | — |  |   | 215,289 |  |   | — |  |   | — |  |   | 215,369 |  |   | — |  |   | — |  |   | — |  |   | — |  |   | 215,369 |  |
| Contributions from partners                                                |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | 2,646 |  |   | 2,646 |  |   | 2,646 |  |
| Distributions to partners                                                  |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | (865 | ) |   | (865 | ) |   | (865 | ) |
| Cash dividends declared:                                                   |   |  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Preferred stock/unit                                                       |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | (14,756 | ) |   | (14,756 | ) |   | (2,794 | ) |   | — |  |   | — |  |   | (2,794 | ) |   | (17,550 | ) |
| Common stock/unit ($1.3875 per share)                                      |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | (119,988 | ) |   | (119,988 | ) |   | — |  |   | (246 | ) |   | — |  |   | (246 | ) |   | (120,234 | ) |
| Balance at September 30, 2011                                              | $ | 275,000 |  |   | 899 |  |   | (15,028 | ) |   | 2,278,753 |  |   | (73,800 | ) |   | (629,626 | ) |   | 1,836,198 |  |   | 49,158 |  |   | (917 | ) |   | 13,035 |  |   | 61,276 |  |   | 1,897,474 |  |

----

|                                                                                     |
|-------------------------------------------------------------------------------------|
|                                                                                     |  |  |  |  |  |  |
|                                                                                |   | 2011 |   | 2010 |
| Cash flows from operating activities:                                               |   |   |   |   |
| Net income                                                                          | $ | 41,608 |  |   | 45,017 |  |
| Adjustments to reconcile net income to net cash provided by operating activities:   |   |   |   |   |
| Depreciation and amortization                                                       |   | 100,518 |  |   | 93,309 |  |
| Amortization of deferred loan cost and debt premium                                 |   | 9,205 |  |   | 5,410 |  |
| Accretion of above and below market lease intangibles, net                          |   | (704 | ) |   | (961 | ) |
| Stock-based compensation, net of capitalization                                     |   | 7,363 |  |   | 4,812 |  |
| Equity in income (loss) of investments in real estate partnerships                  |   | (4,788 | ) |   | 8 |  |
| Net gain on sale of properties                                                      |   | (1,973 | ) |   | (7,836 | ) |
| Provision for doubtful accounts                                                     |   | 2,547 |  |   | 2,510 |  |
| Provision for impairment                                                            |   | 6,699 |  |   | — |  |
| Distribution of earnings from operations of investments in real estate partnerships |   | 34,557 |  |   | 32,248 |  |
| Settlement of derivative instruments                                                |   | — |  |   | (26,761 | ) |
| Gain on derivative instruments                                                      |   | — |  |   | (1,419 | ) |
| Deferred compensation (income) expense                                              |   | (3,204 | ) |   | 3,003 |  |
| Realized gain on trading securities held in trust                                   |   | (209 | ) |   | (346 | ) |
| Unrealized loss (gain) on trading securities held in trust                          |   | 1,582 |  |   | (699 | ) |
| Changes in assets and liabilities:                                                  |   |   |   |   |
| Accounts receivable                                                                 |   | 2,977 |  |   | 431 |  |
| Straight-line rent receivables, net                                                 |   | (3,257 | ) |   | (4,544 | ) |
| Deferred leasing costs                                                              |   | (6,588 | ) |   | (9,926 | ) |
| Other assets                                                                        |   | (4,741 | ) |   | (2,775 | ) |
| Accounts payable and other liabilities                                              |   | (5,241 | ) |   | (911 | ) |
| Tenants’ security and escrow deposits and prepaid rent                        |   | 8,489 |  |   | (118 | ) |
| Net cash provided by operating activities                                           |   | 184,840 |  |   | 130,452 |  |
| Cash flows from investing activities:                                               |   |   |   |   |
| Acquisition of operating real estate                                                |   | (70,629 | ) |   | (10,058 | ) |
| Development of real estate including acquisition of land                            |   | (57,195 | ) |   | (40,790 | ) |
| Proceeds from sale of real estate investments                                       |   | 18,348 |  |   | 34,408 |  |
| Investments in real estate partnerships                                             |   | (194,560 | ) |   | (231,800 | ) |
| Distributions received from investments in real estate partnerships                 |   | 149,490 |  |   | 79,838 |  |
| Dividends on trading securities held in trust                                       |   | 134 |  |   | 162 |  |
| Acquisition of trading securities held in trust                                     |   | (10,356 | ) |   | (9,476 | ) |
| Proceeds from sale of trading securities held in trust                              |   | 9,057 |  |   | 8,847 |  |
| Net cash used in investing activities                                               |   | (155,711 | ) |   | (168,869 | ) |
| Cash flows from financing activities:                                               |   |   |   |   |
| Net proceeds from common stock issuance                                             |   | 215,369 |  |   | — |  |
| Proceeds from sale of treasury stock                                                |   | 2,114 |  |   | 1,431 |  |
| Distributions to limited partners in consolidated partnerships, net                 |   | (551 | ) |   | (1,334 | ) |
| Distributions to exchangeable operating partnership unit holders                    |   | (246 | ) |   | (373 | ) |
| Distributions to preferred unit holders                                             |   | (2,794 | ) |   | (2,794 | ) |
| Dividends paid to common stockholders                                               |   | (119,170 | ) |   | (111,440 | ) |
| Dividends paid to preferred stockholders                                            |   | (14,756 | ) |   | (14,756 | ) |
| Repayment of fixed rate unsecured notes                                             |   | (161,691 | ) |   | (130,445 | ) |
| Proceeds from issuance of fixed rate unsecured notes, net                           |   | — |  |   | 148,949 |  |
| Proceeds from line of credit                                                        |   | 385,000 |  |   | 220,000 |  |
| Repayment of line of credit                                                         |   | (310,000 | ) |   | (110,000 | ) |
| Proceeds from notes payable                                                         |   | 1,863 |  |   | 4,879 |  |
| Repayment of notes payable                                                          |   | (15,650 | ) |   | (21,354 | ) |
| Scheduled principal payments                                                        |   | (3,900 | ) |   | (3,679 | ) |
| Payment of loan costs                                                               |   | (5,982 | ) |   | (1,306 | ) |
| Net cash used in financing activities                                               |   | (30,394 | ) |   | (22,222 | ) |
| Net decrease in cash and cash equivalents                                           |   | (1,265 | ) |   | (60,639 | ) |
| Cash and cash equivalents at beginning of the period                                |   | 22,460 |  |   | 99,477 |  |
| Cash and cash equivalents at end of the period                                      | $ | 21,195 |  |   | 38,838 |  |

----

|                                                                                                          |
|----------------------------------------------------------------------------------------------------------|
|                                                                                                          |  |  |  |  |  |  |
|                                                                                                     |   | 2011 |   | 2010 |
| Supplemental disclosure of cash flow information:                                                        |   |   |   |   |
| Cash paid for interest (net of capitalized interest of $1,293 and $4,325 in 2011 and 2010, respectively) | $ | 92,103 |  |   | 96,240 |  |
| Supplemental disclosure of non-cash transactions:                                                        |   |   |   |   |
| Common stock issued for partnership units exchanged                                                      | $ | — |  |   | 7,311 |  |
| Real estate received through distribution in kind                                                        | $ | 47,512 |  |   | — |  |
| Mortgage loans assumed through distribution in kind                                                      | $ | 28,760 |  |   | — |  |
| Mortgage loans assumed for the acquisition of operating real estate                                      | $ | 31,186 |  |   | 7,881 |  |
| Real estate received through foreclosure on notes receivable                                             | $ | — |  |   | 990 |  |
| Change in fair value of derivative instruments                                                           | $ | — |  |   | 28,363 |  |
| Common stock issued for dividend reinvestment plan                                                       | $ | 821 |  |   | 1,594 |  |
| Stock-based compensation capitalized                                                                     | $ | 930 |  |   | 499 |  |
| Contributions from limited partners in consolidated partnerships, net                                    | $ | 2,332 |  |   | 132 |  |
| Common stock issued for dividend reinvestment in trust                                                   | $ | 476 |  |   | 482 |  |
| Contribution of stock awards into trust                                                                  | $ | 1,117 |  |   | 1,128 |  |
| Distribution of stock held in trust                                                                      | $ | — |  |   | 51 |  |

----

|                                                                                                                                                                                               |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                               |  |  |  |  |  |  |
|                                                                                                                                                                                          |   | 2011 |   | 2010 |
| Assets                                                                                                                                                                                        |   | (unaudited) |   |   |
| Real estate investments at cost:                                                                                                                                                              |   |   |   |   |
| Land                                                                                                                                                                                          | $ | 1,167,152 |  |   | 1,093,700 |  |
| Buildings and improvements                                                                                                                                                                    |   | 2,462,234 |  |   | 2,284,522 |  |
| Properties in development                                                                                                                                                                     |   | 521,945 |  |   | 610,932 |  |
|                                                                                                                                                                                               |   | 4,151,331 |  |   | 3,989,154 |  |
| Less: accumulated depreciation                                                                                                                                                                |   | 769,829 |  |   | 700,878 |  |
|                                                                                                                                                                                               |   | 3,381,502 |  |   | 3,288,276 |  |
| Investments in real estate partnerships                                                                                                                                                       |   | 425,460 |  |   | 428,592 |  |
| Net real estate investments                                                                                                                                                                   |   | 3,806,962 |  |   | 3,716,868 |  |
| Cash and cash equivalents                                                                                                                                                                     |   | 21,195 |  |   | 22,460 |  |
| Accounts receivable, net of allowance for doubtful accounts of $3,862 and $4,819 at September 30, 2011 and December 31, 2010, respectively                                               |   | 29,243 |  |   | 36,600 |  |
| Straight-line rent receivable, net of allowance of $2,087 and $1,396 at September 30, 2011 and December 31, 2010, respectively                                                           |   | 48,327 |  |   | 45,241 |  |
| Notes receivable                                                                                                                                                                              |   | 35,931 |  |   | 35,931 |  |
| Deferred costs, less accumulated amortization of $68,656 and $69,158 at September 30, 2011 and December 31, 2010, respectively                                                           |   | 70,006 |  |   | 63,165 |  |
| Acquired lease intangible assets, less accumulated amortization of $14,562 and $13,996 at September 30, 2011 and December 31, 2010, respectively                                         |   | 26,855 |  |   | 18,219 |  |
| Trading securities held in trust, at fair value                                                                                                                                               |   | 20,683 |  |   | 20,891 |  |
| Other assets                                                                                                                                                                                  |   | 36,419 |  |   | 35,164 |  |
| Total assets                                                                                                                                                                                  | $ | 4,095,621 |  |   | 3,994,539 |  |
| Liabilities and Capital                                                                                                                                                                       |   |   |   |   |
| Liabilities:                                                                                                                                                                                  |   |   |   |   |
| Notes payable                                                                                                                                                                                 | $ | 1,965,340 |  |   | 2,084,469 |  |
| Unsecured line of credit                                                                                                                                                                      |   | 85,000 |  |   | 10,000 |  |
| Accounts payable and other liabilities                                                                                                                                                        |   | 114,873 |  |   | 138,196 |  |
| Acquired lease intangible liabilities, less accumulated accretion of $4,399 and $11,010 at September 30, 2011 and December 31, 2010, respectively                                        |   | 13,694 |  |   | 6,682 |  |
| Tenants’ security and escrow deposits and prepaid rent                                                                                                                                  |   | 19,240 |  |   | 10,790 |  |
| Total liabilities                                                                                                                                                                             |   | 2,198,147 |  |   | 2,250,137 |  |
| Commitments and contingencies                                                                                                                                                                 |   |  |   |  |
| Capital:                                                                                                                                                                                      |   |   |   |   |
| Partners’ capital:                                                                                                                                                                      |   |   |   |   |
| Series D preferred units, par value $100: 500,000 units issued and outstanding at September 30, 2011 and December 31, 2010                                                               |   | 49,158 |  |   | 49,158 |  |
| Preferred units of general partner, $.01 par value per unit, 11,000,000 units issued and outstanding at September 30, 2011 and December 31, 2010, liquidation preference of $25 per unit |   | 275,000 |  |   | 275,000 |  |
| General partner; 89,913,234 and 81,886,872 units outstanding at September 30, 2011 and December 31, 2010, respectively                                                                   |   | 1,634,998 |  |   | 1,491,062 |  |
| Limited partners; 177,164 units outstanding at September 30, 2011 and December 31, 2010                                                                                                  |   | (917 | ) |   | (762 | ) |
| Accumulated other comprehensive loss                                                                                                                                                          |   | (73,800 | ) |   | (80,885 | ) |
| Total partners’ capital                                                                                                                                                                 |   | 1,884,439 |  |   | 1,733,573 |  |
| Noncontrolling interests:                                                                                                                                                                     |   |   |   |   |
| Limited partners’ interests in consolidated partnerships                                                                                                                                |   | 13,035 |  |   | 10,829 |  |
| Total noncontrolling interests                                                                                                                                                                |   | 13,035 |  |   | 10,829 |  |
| Total capital                                                                                                                                                                                 |   | 1,897,474 |  |   | 1,744,402 |  |
| Total liabilities and capital                                                                                                                                                                 | $ | 4,095,621 |  |   | 3,994,539 |  |

----

|                                                                                  |
|----------------------------------------------------------------------------------|
|                                                                                  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                             |   | Three months ended |   | Nine months ended |
|                                                                             |   | September 30, |   | September 30, |
|                                                                             |   | 2011 |   | 2010 |   | 2011 |   | 2010 |
| Revenues:                                                                        |   |   |   |   |   |   |   |   |
| Minimum rent                                                                     | $ | 90,129 |  |   | 86,486 |  | $ | 268,169 |  |   | 257,389 |  |
| Percentage rent                                                                  |   | 430 |  |   | 400 |  |   | 1,488 |  |   | 1,023 |  |
| Recoveries from tenants and other income                                         |   | 28,248 |  |   | 27,383 |  |   | 83,040 |  |   | 83,150 |  |
| Management, transaction, and other fees                                          |   | 6,940 |  |   | 6,524 |  |   | 26,993 |  |   | 22,974 |  |
| Total revenues                                                                   |   | 125,747 |  |   | 120,793 |  |   | 379,690 |  |   | 364,536 |  |
| Operating expenses:                                                              |   |   |   |   |   |   |   |   |
| Depreciation and amortization                                                    |   | 33,166 |  |   | 30,181 |  |   | 100,006 |  |   | 92,324 |  |
| Operating and maintenance                                                        |   | 18,101 |  |   | 17,147 |  |   | 55,106 |  |   | 51,521 |  |
| General and administrative                                                       |   | 11,671 |  |   | 17,761 |  |   | 43,801 |  |   | 45,734 |  |
| Real estate taxes                                                                |   | 13,533 |  |   | 13,788 |  |   | 42,163 |  |   | 42,267 |  |
| Provision for doubtful accounts                                                  |   | 326 |  |   | 248 |  |   | 2,534 |  |   | 2,634 |  |
| Other expenses (income)                                                          |   | 1,901 |  |   | 2,380 |  |   | 1,737 |  |   | 4,071 |  |
| Total operating expenses                                                         |   | 78,698 |  |   | 81,505 |  |   | 245,347 |  |   | 238,551 |  |
| Other expense (income):                                                          |   |   |   |   |   |   |   |   |
| Interest expense, net of interest income                                         |   | 30,867 |  |   | 32,209 |  |   | 92,297 |  |   | 91,972 |  |
| Gain on sale of properties in development                                        |   | — |  |   | (479 | ) |   | — |  |   | (1,044 | ) |
| Provision for impairment                                                         |   | 6,362 |  |   | — |  |   | 6,362 |  |   | — |  |
| Loss (income) from deferred compensation plan                                    |   | 2,283 |  |   | (1,398 | ) |   | 1,395 |  |   | (1,026 | ) |
| Gain on derivative instruments                                                   |   | — |  |   | (2,341 | ) |   | — |  |   | (1,419 | ) |
| Total other expense (income)                                                     |   | 39,512 |  |   | 27,991 |  |   | 100,054 |  |   | 88,483 |  |
| Income before equity in income (loss) of investments in real estate partnerships |   | 7,537 |  |   | 11,297 |  |   | 34,289 |  |   | 37,502 |  |
| Equity in income (loss) of investments in real estate partnerships               |   | 4,825 |  |   | 2,102 |  |   | 4,788 |  |   | (8 | ) |
| Income from continuing operations                                                |   | 12,362 |  |   | 13,399 |  |   | 39,077 |  |   | 37,494 |  |
| Discontinued operations, net:                                                    |   |   |   |   |   |   |   |   |
| Operating (loss) income                                                          |   | (142 | ) |   | 470 |  |   | 210 |  |   | 756 |  |
| Gain on sale of operating properties and properties in development               |   | 2,321 |  |   | 4 |  |   | 2,321 |  |   | 6,767 |  |
| Income from discontinued operations                                              |   | 2,179 |  |   | 474 |  |   | 2,531 |  |   | 7,523 |  |
| Net income                                                                       |   | 14,541 |  |   | 13,873 |  |   | 41,608 |  |   | 45,017 |  |
| Noncontrolling interests:                                                        |   |   |   |   |   |   |   |   |
| Limited partners’ interests in consolidated partnerships                   |   | (154 | ) |   | (95 | ) |   | (425 | ) |   | (271 | ) |
| Net income attributable to noncontrolling interests                              |   | (154 | ) |   | (95 | ) |   | (425 | ) |   | (271 | ) |
| Net income attributable to controlling interests                                 |   | 14,387 |  |   | 13,778 |  |   | 41,183 |  |   | 44,746 |  |
| Preferred unit distributions                                                     |   | (5,850 | ) |   | (5,850 | ) |   | (17,550 | ) |   | (17,550 | ) |
| Net income attributable to common unit holders                                   | $ | 8,537 |  |   | 7,928 |  | $ | 23,633 |  |   | 27,196 |  |
| Income per common unit - basic                                                   |   |   |   |   |   |   |   |   |
| Continuing operations                                                            | $ | 0.07 |  |   | 0.09 |  | $ | 0.23 |  |   | 0.24 |  |
| Discontinued operations                                                          |   | 0.02 |  |   | 0.01 |  |   | 0.03 |  |   | 0.09 |  |
| Net income attributable to common unit holders                                   | $ | 0.09 |  |   | 0.10 |  | $ | 0.26 |  |   | 0.33 |  |
| Income per common unit - diluted                                                 |   |   |   |   |   |   |   |   |
| Continuing operations                                                            | $ | 0.07 |  |   | 0.09 |  | $ | 0.23 |  |   | 0.23 |  |
| Discontinued operations                                                          |   | 0.02 |  |   | — |  |   | 0.03 |  |   | 0.09 |  |
| Net income attributable to common unit holders                                   | $ | 0.09 |  |   | 0.09 |  | $ | 0.26 |  |   | 0.32 |  |

----

|                                                                                              |
|----------------------------------------------------------------------------------------------|
|                                                                                              |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                                         |   | PreferredUnits |   | General PartnerPreferred andCommon Units |   | LimitedPartners |   | AccumulatedOtherComprehensiveIncome (Loss) |   | TotalPartners’Capital |   | NoncontrollingInterests inLimited Partners’Interest inConsolidatedPartnerships |   | TotalCapital |
| Balance at December 31, 2009                                                            | $ | 49,158 |  |   | 1,912,352 |  |   | 7,321 |  |   | (49,973 | ) |   | 1,918,858 |  |   | 11,748 |  |   | 1,930,606 |  |
| Comprehensive income:                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net income                                                                                   |   | 2,794 |  |   | 41,797 |  |   | 155 |  |   | — |  |   | 44,746 |  |   | 271 |  |   | 45,017 |  |
| Amortization of loss on derivative instruments                                               |   | — |  |   | — |  |   | 7 |  |   | 3,202 |  |   | 3,209 |  |   | — |  |   | 3,209 |  |
| Change in fair value of derivative instrument                                                |   | — |  |   | — |  |   | (84 | ) |   | (36,472 | ) |   | (36,556 | ) |   | — |  |   | (36,556 | ) |
| Total comprehensive income                                                                   |   | — |  |   |   |   |   |   |   |   | 11,399 |  |   |   |   | 11,670 |  |
| Deferred compensation plan, net                                                              |   | — |  |   | 122 |  |   | — |  |   | — |  |   | 122 |  |   | — |  |   | 122 |  |
| Contributions from partners                                                                  |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | 161 |  |   | 161 |  |
| Distributions to partners                                                                    |   | — |  |   | (113,033 | ) |   | (373 | ) |   | — |  |   | (113,406 | ) |   | (1,363 | ) |   | (114,769 | ) |
| Preferred unit distributions                                                                 |   | (2,794 | ) |   | (14,756 | ) |   | — |  |   | — |  |   | (17,550 | ) |   | — |  |   | (17,550 | ) |
| Restricted stock issued by Parent Company, net of amortization                               |   | — |  |   | 5,138 |  |   | — |  |   | — |  |   | 5,138 |  |   | — |  |   | 5,138 |  |
| Common units issued as a result of common stock issued by Parent Company, net of repurchases |   | — |  |   | 256 |  |   | — |  |   | — |  |   | 256 |  |   | — |  |   | 256 |  |
| Common units exchanged for common stock of Parent Company                                    |   | — |  |   | 7,311 |  |   | (7,311 | ) |   | — |  |   | — |  |   | — |  |   | — |  |
| Balance at September 30, 2010                                                           | $ | 49,158 |  |   | 1,839,187 |  |   | (285 | ) |   | (83,243 | ) |   | 1,804,817 |  |   | 10,817 |  |   | 1,815,634 |  |
|                                                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance at December 31, 2010                                                            | $ | 49,158 |  |   | 1,766,062 |  |   | (762 | ) |   | (80,885 | ) |   | 1,733,573 |  |   | 10,829 |  |   | 1,744,402 |  |
| Comprehensive income:                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net income                                                                                   |   | 2,794 |  |   | 38,312 |  |   | 77 |  |   | — |  |   | 41,183 |  |   | 425 |  |   | 41,608 |  |
| Amortization of loss on derivative instruments                                               |   | — |  |   | — |  |   | 14 |  |   | 7,085 |  |   | 7,099 |  |   | — |  |   | 7,099 |  |
| Total comprehensive income                                                                   |   |  |   |  |   |  |   |  |   | 48,282 |  |   |  |   | 48,707 |  |
| Deferred compensation plan, net                                                              |   | — |  |   | 17,843 |  |   | — |  |   | — |  |   | 17,843 |  |   | — |  |   | 17,843 |  |
| Contributions from partners                                                                  |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | 2,646 |  |   | 2,646 |  |
| Distributions to partners                                                                    |   | — |  |   | (119,988 | ) |   | (246 | ) |   | — |  |   | (120,234 | ) |   | (865 | ) |   | (121,099 | ) |
| Preferred unit distributions                                                                 |   | (2,794 | ) |   | (14,756 | ) |   | — |  |   | — |  |   | (17,550 | ) |   | — |  |   | (17,550 | ) |
| Restricted stock issued by Parent Company, net of amortization                               |   | — |  |   | 8,087 |  |   | — |  |   | — |  |   | 8,087 |  |   | — |  |   | 8,087 |  |
| Common units issued as a result of common stock issued by Parent Company, net of repurchases |   | — |  |   | 214,438 |  |   | — |  |   | — |  |   | 214,438 |  |   | — |  |   | 214,438 |  |
| Balance at September 30, 2011                                                           | $ | 49,158 |  |   | 1,909,998 |  |   | (917 | ) |   | (73,800 | ) |   | 1,884,439 |  |   | 13,035 |  |   | 1,897,474 |  |

----

|                                                                                            |
|--------------------------------------------------------------------------------------------|
|                                                                                            |  |  |  |  |  |  |
|                                                                                       |   | 2011 |   | 2010 |
| Cash flows from operating activities:                                                      |   |   |   |   |
| Net income                                                                                 | $ | 41,608 |  |   | 45,017 |  |
| Adjustments to reconcile net income to net cash provided by operating activities:          |   |   |   |   |
| Depreciation and amortization                                                              |   | 100,518 |  |   | 93,309 |  |
| Amortization of deferred loan cost and debt premium                                        |   | 9,205 |  |   | 5,410 |  |
| Accretion of above and below market lease intangibles, net                                 |   | (704 | ) |   | (961 | ) |
| Stock-based compensation, net of capitalization                                            |   | 7,363 |  |   | 4,812 |  |
| Equity in income (loss) of investments in real estate partnerships                         |   | (4,788 | ) |   | 8 |  |
| Net gain on sale of properties                                                             |   | (1,973 | ) |   | (7,836 | ) |
| Provision for doubtful accounts                                                            |   | 2,547 |  |   | 2,510 |  |
| Provision for impairment                                                                   |   | 6,699 |  |   | — |  |
| Distribution of earnings from operations of investments in real estate partnerships        |   | 34,557 |  |   | 32,248 |  |
| Settlement of derivative instruments                                                       |   | — |  |   | (26,761 | ) |
| Gain on derivative instruments                                                             |   | — |  |   | (1,419 | ) |
| Deferred compensation (income) expense                                                     |   | (3,204 | ) |   | 3,003 |  |
| Realized gain on trading securities held in trust                                          |   | (209 | ) |   | (346 | ) |
| Unrealized loss (gain) on trading securities held in trust                                 |   | 1,582 |  |   | (699 | ) |
| Changes in assets and liabilities:                                                         |   |   |   |   |
| Accounts receivable                                                                        |   | 2,977 |  |   | 431 |  |
| Straight-line rent receivables, net                                                        |   | (3,257 | ) |   | (4,544 | ) |
| Deferred leasing costs                                                                     |   | (6,588 | ) |   | (9,926 | ) |
| Other assets                                                                               |   | (4,741 | ) |   | (2,775 | ) |
| Accounts payable and other liabilities                                                     |   | (5,241 | ) |   | (911 | ) |
| Tenants’ security and escrow deposits and prepaid rent                               |   | 8,489 |  |   | (118 | ) |
| Net cash provided by operating activities                                                  |   | 184,840 |  |   | 130,452 |  |
| Cash flows from investing activities:                                                      |   |   |   |   |
| Acquisition of operating real estate                                                       |   | (70,629 | ) |   | (10,058 | ) |
| Development of real estate including acquisition of land                                   |   | (57,195 | ) |   | (40,790 | ) |
| Proceeds from sale of real estate investments                                              |   | 18,348 |  |   | 34,408 |  |
| Investments in real estate partnerships                                                    |   | (194,560 | ) |   | (231,800 | ) |
| Distributions received from investments in real estate partnerships                        |   | 149,490 |  |   | 79,838 |  |
| Dividends on trading securities held in trust                                              |   | 134 |  |   | 162 |  |
| Acquisition of trading securities held in trust                                            |   | (10,356 | ) |   | (9,476 | ) |
| Proceeds from sale of trading securities held in trust                                     |   | 9,057 |  |   | 8,847 |  |
| Net cash used in investing activities                                                      |   | (155,711 | ) |   | (168,869 | ) |
| Cash flows from financing activities:                                                      |   |   |   |   |
| Net proceeds from common units issued as a result of common stock issued by Parent Company |   | 215,369 |  |   | — |  |
| Proceeds from sale of treasury stock                                                       |   | 2,114 |  |   | 1,431 |  |
| Distributions to limited partners in consolidated partnerships, net                        |   | (551 | ) |   | (1,334 | ) |
| Distributions to partners                                                                  |   | (119,416 | ) |   | (111,813 | ) |
| Preferred unit distributions                                                               |   | (17,550 | ) |   | (17,550 | ) |
| Repayment of fixed rate unsecured notes                                                    |   | (161,691 | ) |   | (130,445 | ) |
| Proceeds from issuance of fixed rate unsecured notes, net                                  |   | — |  |   | 148,949 |  |
| Proceeds from line of credit                                                               |   | 385,000 |  |   | 220,000 |  |
| Repayment of line of credit                                                                |   | (310,000 | ) |   | (110,000 | ) |
| Proceeds from notes payable                                                                |   | 1,863 |  |   | 4,879 |  |
| Repayment of notes payable                                                                 |   | (15,650 | ) |   | (21,354 | ) |
| Scheduled principal payments                                                               |   | (3,900 | ) |   | (3,679 | ) |
| Payment of loan costs                                                                      |   | (5,982 | ) |   | (1,306 | ) |
| Net cash used in financing activities                                                      |   | (30,394 | ) |   | (22,222 | ) |
| Net decrease in cash and cash equivalents                                                  |   | (1,265 | ) |   | (60,639 | ) |
| Cash and cash equivalents at beginning of the period                                       |   | 22,460 |  |   | 99,477 |  |
| Cash and cash equivalents at end of the period                                             | $ | 21,195 |  |   | 38,838 |  |

----

|                                                                                                          |
|----------------------------------------------------------------------------------------------------------|
|                                                                                                          |  |  |  |  |  |  |
|                                                                                                     |   | 2011 |   | 2010 |
| Supplemental disclosure of cash flow information:                                                        |   |   |   |   |
| Cash paid for interest (net of capitalized interest of $1,293 and $4,325 in 2011 and 2010, respectively) | $ | 92,103 |  |   | 96,240 |  |
| Supplemental disclosure of non-cash transactions:                                                        |   |   |   |   |
| Common stock issued by Parent Company for partnership units exchanged                                    | $ | — |  |   | 7,311 |  |
| Real estate received through distribution in kind                                                        | $ | 47,512 |  |   | — |  |
| Mortgage loans assumed through distribution in kind                                                      | $ | 28,760 |  |   | — |  |
| Mortgage loans assumed for the acquisition of real estate                                                | $ | 31,186 |  |   | 7,881 |  |
| Real estate received through foreclosure on notes receivable                                             | $ | — |  |   | 990 |  |
| Change in fair value of derivative instruments                                                           | $ | — |  |   | 28,363 |  |
| Common stock issued by Parent Company for dividend reinvestment plan                                     | $ | 821 |  |   | 1,594 |  |
| Stock-based compensation capitalized                                                                     | $ | 930 |  |   | 499 |  |
| Contributions from limited partners in consolidated partnerships, net                                    | $ | 2,332 |  |   | 132 |  |
| Common stock issued for dividend reinvestment in trust                                                   | $ | 476 |  |   | 482 |  |
| Contribution of stock awards into trust                                                                  | $ | 1,117 |  |   | 1,128 |  |
| Distribution of stock held in trust                                                                      | $ | — |  |   | 51 |  |

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Table of Contents

|    |                                              |
|----|----------------------------------------------|
| 1. | Organization and Principles of Consolidation |

|                |
|----------------|
|                |  |  |  |  |  |  |  |  |  |  |  |
| Date Purchased | Property Name | City/State |   | Purchase Price | Debt Assumed, Net of Premiums | Intangible Assets | Intangible Liabilities |
| 6/2/2011       | Ocala Corners | Tallahassee, FL | $ | 11,129 |  | 5,937 |  | 1,724 |  | 2,558 |  |
| 8/18/2011      | Oak Shade Town Center | Davis, CA |   | 34,871 |  | 12,456 |  | 2,320 |  | 1,658 |  |
| 9/26/2011      | Tech Ridge Center | Austin, TX |   | 55,400 |  | 12,793 |  | 4,519 |  | 936 |  |
|           |   |   | $ | 101,400 |  | 31,186 |  | 8,563 |  | 5,152 |  |

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Table of Contents

|                                    |
|------------------------------------|
|                                    |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                               |   | For the three months ended September 30, |   |   | For the nine months ended September 30, |
|                               |   | 2011 |   | 2010 |   |   | 2011 |   | 2010 |
| Income tax expense (benefit) from: |   |   |   |   |   |   |   |   |   |
| Continuing operations              | $ | 247 |  |   | 846 |  |   | $ | (1,350 | ) |   | 927 |  |
| Discontinued operations            |   | (283 | ) |   | 6 |  |   |   | (283 | ) |   | 26 |  |
| Total income tax expense (benefit) | $ | (36 | ) |   | 852 |  |   | $ | (1,633 | ) |   | 953 |  |

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Table of Contents

|                              |
|------------------------------|
|                              |  |  |  |  |  |  |
|                         |   | 2011 |   | 2010 |
| Notes payable:               |   |   |   |   |
| Fixed rate mortgage loans    | $ | 442,860 |  |   | 402,151 |  |
| Variable rate mortgage loans |   | 12,699 |  |   | 11,189 |  |
| Fixed rate unsecured loans   |   | 1,509,781 |  |   | 1,671,129 |  |
| Total notes payable          |   | 1,965,340 |  |   | 2,084,469 |  |
| Unsecured line of credit     |   | 85,000 |  |   | 10,000 |  |
| Total                        | $ | 2,050,340 |  |   | 2,094,469 |  |

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Table of Contents

|                                                      |
|------------------------------------------------------|
|                                                      |  |  |  |  |  |  |  |  |  |  |  |  |
| Scheduled Principal Payments and Maturities by Year: |   | ScheduledPrincipalPayments |   | Mortgage LoanMaturities |   | UnsecuredMaturities (1) |   | Total |
| 2011                                                 | $ | 1,757 |  |   | — |  |   | 20,000 |  |   | 21,757 |  |
| 2012                                                 |   | 6,998 |  |   | — |  |   | 192,377 |  |   | 199,375 |  |
| 2013                                                 |   | 6,995 |  |   | 16,340 |  |   | — |  |   | 23,335 |  |
| 2014                                                 |   | 6,481 |  |   | 29,743 |  |   | 150,000 |  |   | 186,224 |  |
| 2015                                                 |   | 5,170 |  |   | 46,313 |  |   | 435,000 |  |   | 486,483 |  |
| Beyond 5 Years                                       |   | 29,348 |  |   | 302,207 |  |   | 800,000 |  |   | 1,131,555 |  |
| Unamortized debt (discounts)/premiums, net           |   | — |  |   | 4,207 |  |   | (2,596 | ) |   | 1,611 |  |
| Total                                                | $ | 56,749 |  |   | 398,810 |  |   | 1,594,781 |  |   | 2,050,340 |  |

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Table of Contents

|                                  |
|----------------------------------|
|                                  |  |  |  |  |  |  |  |  |  |  |  |  |
|                             |   | Fair Value Measurements as of September 30, 2011 |
|                             |   |   |   | Quoted Prices in Active Markets for Identical Assets |   | Significant Other Observable Inputs |   | Significant Unobservable Inputs |
| Assets                           |   | Balance |   | (Level 1) |   | (Level 2) |   | (Level 3) |
| Trading securities held in trust | $ | 20,683 |  |   | 20,683 |  |   | — |  |   | — |  |
| Total                            | $ | 20,683 |  |   | 20,683 |  |   | — |  |   | — |  |

|                                  |
|----------------------------------|
|                                  |  |  |  |  |  |  |  |  |  |  |  |  |
|                             |   | Fair Value Measurements as of December 31, 2010 |
|                             |   |   |   | Quoted Prices in Active Markets for Identical Assets |   | Significant Other Observable Inputs |   | Significant Unobservable Inputs |
| Assets                           |   | Balance |   | (Level 1) |   | (Level 2) |   | (Level 3) |
| Trading securities held in trust |   | 20,891 |  |   | 20,891 |  |   | — |  |   | — |  |
| Total                            | $ | 20,891 |  |   | 20,891 |  |   | — |  |   | — |  |

|                                      |
|--------------------------------------|
|                                      |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                 |   |   |   | Quoted Prices in Active Markets for Identical Assets |   | Significant Other Observable Inputs |   | Significant Unobservable Inputs |   | Total Gains (Losses) |
| Assets                               |   | Balance |   | (Level 1) |   | (Level 2) |   | (Level 3) |   |
| Long-lived assets held and used      |   |   |   |   |   |   |   |   |   |   |
| Operating and development properties | $ | 2,054 |  |   | — |  |   | — |  |   | 2,054 |  |   | (6,362 | ) |
| Total                                |   | 2,054 |  |   | — |  |   | — |  |   | 2,054 |  |   | (6,362 | ) |

----

Table of Contents

|                                      |
|--------------------------------------|
|                                      |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                 |   | For the three months ended September 30, |   |   | For the nine months ended September 30, |
|                                 |   | 2011 |   | 2010 |   |   | 2011 |   | 2010 |
|                                 |   |   |   |   |   |   |   |   |   |
| Restricted stock                     | $ | 2,696 |  |   | 1,713 |  |   | $ | 8,087 |  |   | 5,138 |  |
| Directors' fees paid in common stock |   | 72 |  |   | 66 |  |   |   | 206 |  |   | 173 |  |
| Less: Amount capitalized             |   | (415 | ) |   | (167 | ) |   |   | (930 | ) |   | (499 | ) |
| Total                                | $ | 2,353 |  |   | 1,612 |  |   | $ | 7,363 |  |   | 4,812 |  |

|                                                  |
|--------------------------------------------------|
|                                                  |  |  |  |  |  |  |  |  |  |  |  |
|                                             | Number ofOptions |   | WeightedAverageExercisePrice |   | WeightedAverageRemainingContractualTerm(in years) |   | AggregateIntrinsicValue(in thousands) |
| Outstanding December 31, 2010                    | 442,880 |  | $ | 51.85 |  |   | 3.5 |  | $ | (4,255 | ) |
| Less: Exercised                                  | 12,561 |  |   | 35.61 |  |   |   |   |   |
| Less: Forfeited                                  | 26,754 |  |   | 51.43 |  |   |   |   |   |
| Less: Expired                                    | 12,023 |  |   | 60.18 |  |   |   |   |   |
| Outstanding September 30, 2011                   | 391,542 |  | $ | 52.14 |  |   | 3.2 |  | $ | (6,583 | ) |
| Vested and expected to vest - September 30, 2011 | 391,542 |  | $ | 52.14 |  |   | 3.2 |  | $ | (6,583 | ) |
| Exercisable September 30, 2011                   | 391,542 |  | $ | 52.14 |  |   | 3.2 |  | $ | (6,583 | ) |

----

Table of Contents

|                                  |
|----------------------------------|
|                                  |  |  |  |  |  |
|                             | Non-vestedNumber ofOptions |   | WeightedAverageGrant-DateFair Value |
| Non-vested at December 31, 2010  | 2,185 |  | $ | 8.78 |  |
| Less: 2011 Vesting               | 2,185 |  |   | 8.78 |  |
| Non-vested at September 30, 2011 | — |  | $ | — |  |

|                                       |
|---------------------------------------|
|                                       |  |  |  |  |  |  |  |  |
|                                  | Number ofShares |   | IntrinsicValue(in thousands) |   | WeightedAverageGrantPrice |
| Non-vested at December 31, 2010       | 436,559 |  |   |   |   |   |
| Add: Time-based awards granted        | 128,139 |  |   |   | $ | 42.19 |  |
| Add: Performance-based awards granted | 18,246 |  |   |   | $ | 41.54 |  |
| Add: Market-based awards granted      | 165,689 |  |   |   | $ | 41.54 |  |
| Less: Vested and Distributed          | 171,292 |  |   |   | $ | 43.08 |  |
| Less: Forfeited                       | 2,745 |  |   |   | $ | 41.56 |  |
| Non-vested at September 30, 2011      | 574,596 |  | $ | 20,300 |  |   |  |

----

Table of Contents

----

Table of Contents

|                                                                 |
|-----------------------------------------------------------------|
|                                                                 |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                            |   | Three months ended |   | Nine months ended |
|                                                            |   | 2011 |   | 2010 |   | 2011 |   | 2010 |
| Numerator:                                                      |   |   |   |   |   |   |   |   |
| Income from continuing operations                               | $ | 12,362 |  |   | 13,399 |  | $ | 39,077 |  |   | 37,494 |  |
| Discontinued operations                                         |   | 2,179 |  |   | 474 |  |   | 2,531 |  |   | 7,523 |  |
| Net income                                                      |   | 14,541 |  |   | 13,873 |  |   | 41,608 |  |   | 45,017 |  |
| Less: Preferred stock dividends                                 |   | 4,919 |  |   | 4,919 |  |   | 14,756 |  |   | 14,756 |  |
| Less: Noncontrolling interests                                  |   | 1,112 |  |   | 1,060 |  |   | 3,296 |  |   | 3,220 |  |
| Net income attributable to common stockholders                  |   | 8,510 |  |   | 7,894 |  |   | 23,556 |  |   | 27,041 |  |
| Less: Dividends paid on unvested restricted stock               |   | 187 |  |   | 158 |  |   | 560 |  |   | 474 |  |
| Net income attributable to common stockholders - basic          |   | 8,323 |  |   | 7,736 |  |   | 22,996 |  |   | 26,567 |  |
| Add: Dividends paid on Treasury Method restricted stock         |   | 5 |  |   | — |  |   | 33 |  |   | — |  |
| Net income for common stockholders - diluted                    | $ | 8,328 |  |   | 7,736 |  | $ | 23,029 |  |   | 26,567 |  |
| Denominator:                                                    |   |   |   |   |   |   |   |   |
| Weighted average common shares outstanding for basic EPS        |   | 89,506 |  |   | 81,167 |  |   | 87,245 |  |   | 81,017 |  |
| Incremental shares to be issued under unvested restricted stock |   | 11 |  |   | — |  |   | 24 |  |   | — |  |
| Incremental shares under Forward Equity Offering                |   | — |  |   | 1,410 |  |   | 565 |  |   | 1,340 |  |
| Weighted average common shares outstanding for diluted EPS      |   | 89,517 |  |   | 82,577 |  |   | 87,834 |  |   | 82,357 |  |
| Income per common share – basic                           |   |   |   |   |   |   |   |   |
| Continuing operations                                           | $ | 0.07 |  |   | 0.09 |  | $ | 0.23 |  |   | 0.24 |  |
| Discontinued operations                                         |   | 0.02 |  |   | 0.01 |  |   | 0.03 |  |   | 0.09 |  |
| Net income attributable to common stockholders                  | $ | 0.09 |  |   | 0.10 |  | $ | 0.26 |  |   | 0.33 |  |
| Income per common share – diluted                         |   |   |   |   |   |   |   |   |
| Continuing operations                                           | $ | 0.07 |  |   | 0.09 |  | $ | 0.23 |  |   | 0.23 |  |
| Discontinued operations                                         |   | 0.02 |  |   | — |  |   | 0.03 |  |   | 0.09 |  |
| Net income attributable to common stockholders                  | $ | 0.09 |  |   | 0.09 |  | $ | 0.26 |  |   | 0.32 |  |

----

Table of Contents

|                                                                |
|----------------------------------------------------------------|
|                                                                |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                           |   | Three months ended |   | Nine months ended |
|                                                           |   | 2011 |   | 2010 |   | 2011 |   | 2010 |
| Numerator:                                                     |   |   |   |   |   |   |   |   |
| Income from continuing operations                              | $ | 12,362 |  |   | 13,399 |  | $ | 39,077 |  |   | 37,494 |  |
| Discontinued operations                                        |   | 2,179 |  |   | 474 |  |   | 2,531 |  |   | 7,523 |  |
| Net income                                                     |   | 14,541 |  |   | 13,873 |  |   | 41,608 |  |   | 45,017 |  |
| Less: Preferred unit distributions                             |   | 5,850 |  |   | 5,850 |  |   | 17,550 |  |   | 17,550 |  |
| Less: Noncontrolling interests                                 |   | 154 |  |   | 95 |  |   | 425 |  |   | 271 |  |
| Net income attributable to common unit holders                 |   | 8,537 |  |   | 7,928 |  |   | 23,633 |  |   | 27,196 |  |
| Less: Dividends paid on unvested restricted stock              |   | 187 |  |   | 158 |  |   | 560 |  |   | 474 |  |
| Net income attributable to common unit holders - basic         |   | 8,350 |  |   | 7,770 |  |   | 23,073 |  |   | 26,722 |  |
| Add: Dividends paid on Treasury Method restricted stock        |   | 5 |  |   | — |  |   | 33 |  |   | — |  |
| Net income for common unit holders - diluted                   | $ | 8,355 |  |   | 7,770 |  | $ | 23,106 |  |   | 26,722 |  |
| Denominator:                                                   |   |   |   |   |   |   |   |   |
| Weighted average common units outstanding for basic EPU        |   | 89,683 |  |   | 81,356 |  |   | 87,422 |  |   | 81,316 |  |
| Incremental units to be issued under unvested restricted stock |   | 11 |  |   | — |  |   | 24 |  |   | — |  |
| Incremental units under Forward Equity Offering                |   | — |  |   | 1,410 |  |   | 565 |  |   | 1,340 |  |
| Weighted average common units outstanding for diluted EPU      |   | 89,694 |  |   | 82,766 |  |   | 88,011 |  |   | 82,656 |  |
| Income per common unit – basic                           |   |   |   |   |   |   |   |   |
| Continuing operations                                          | $ | 0.07 |  |   | 0.09 |  | $ | 0.23 |  |   | 0.24 |  |
| Discontinued operations                                        |   | 0.02 |  |   | 0.01 |  |   | 0.03 |  |   | 0.09 |  |
| Net income attributable to common unit holders                 | $ | 0.09 |  |   | 0.10 |  | $ | 0.26 |  |   | 0.33 |  |
| Income per common unit – diluted                         |   |   |   |   |   |   |   |   |
| Continuing operations                                          | $ | 0.07 |  |   | 0.09 |  | $ | 0.23 |  |   | 0.23 |  |
| Discontinued operations                                        |   | 0.02 |  |   | — |  |   | 0.03 |  |   | 0.09 |  |
| Net income attributable to common unit holders                 | $ | 0.09 |  |   | 0.09 |  | $ | 0.26 |  |   | 0.32 |  |

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Table of Contents

----

|              |                                                                                             |
|--------------|---------------------------------------------------------------------------------------------|
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |

----

----

|                                            |
|--------------------------------------------|
|                                            |  |  |  |  |  |  |
|                                       |   | September 30, 2011 |   | December 31, 2010 |
| Number of Properties                       |   | 219 |  |   | 215 |  |
| Properties in Development                  |   | 18 |  |   | 25 |  |
| Gross Leasable Area                        |   | 23,840,806 |  |   | 23,266,987 |  |
| % Leased – Operating and Development |   | 92.2 | % |   | 91.6 | % |
| % Leased – Operating                 |   | 92.6 | % |   | 92.6 | % |

|                                            |
|--------------------------------------------|
|                                            |  |  |  |  |  |  |
|                                       |   | September 30, 2011 |   | December 31, 2010 |
| Number of Properties                       |   | 148 |  |   | 181 |  |
| Properties in Development                  |   | — |  |   | 1 |  |
| Gross Leasable Area                        |   | 18,604,903 |  |   | 21,809,665 |  |
| % Leased – Operating and Development |   | 94.4 | % |   | 93.6 | % |
| % Leased – Operating                 |   | 94.4 | % |   | 93.8 | % |

|                |
|----------------|
|                |  |  |  |  |  |  |  |  |  |
| Grocery Anchor |   | Number ofStores (1) |   | Percentage ofCompany-owned GLA (2) |   | Percentage  ofAnnualizedBase Rent (2)  |
| Kroger         |   | 52 |  |   | 7.2 | % |   | 4.4 | % |
| Publix         |   | 56 |  |   | 6.8 | % |   | 4.4 | % |
| Safeway        |   | 57 |  |   | 5.7 | % |   | 3.7 | % |
| Supervalu      |   | 29 |  |   | 3.1 | % |   | 2.4 | % |

----

|                                           |
|-------------------------------------------|
|                                           |  |  |  |  |  |  |
|                                      |   | 2011 |   | 2010 |
| Net cash provided by operating activities | $ | 184,840 |  |   | 130,452 |  |
| Net cash used in investing activities     |   | (155,711 | ) |   | (168,869 | ) |
| Net cash used in financing activities     |   | (30,394 | ) |   | (22,222 | ) |
| Net decrease in cash and cash equivalents | $ | (1,265 | ) |   | (60,639 | ) |

|                                                   |
|---------------------------------------------------|
|                                                   |  |  |  |  |  |  |
|                                              |   | 2011 |   | 2010 |
| Cash flow from operations                         | $ | 184,840 |  |   | 130,452 |  |
| Settlement of derivative instruments              |   | — |  |   | 26,761 |  |
|   Total                                 | $ | 184,840 |  |   | 157,213 |  |
|                                                   |   |  |   |  |
| Scheduled principal payments                      | $ | 3,900 |  |   | 3,679 |  |
| Capital expenditures to maintain shopping centers |   | 7,820 |  |   | 7,025 |  |
| Distributions to share and unit holders           |   | 136,966 |  |   | 129,363 |  |
|   Total                                 | $ | 148,686 |  |   | 140,067 |  |

----

----

|                                      |
|--------------------------------------|
|                                      |  |  |  |  |  |  |
|                                 |   | 2011 |   | 2010 |
| Number of Co-investment Partnerships |   | 17 |  |   | 18 |  |
| Regency’s Ownership            |   |  20%-50% |  |   |  16.35%-50% |  |
| Number of Properties                 |   | 148 |  |   | 181 |  |
| Combined Assets                      | $ | 3,555,224 |  |   | 3,983,122 |  |
| Combined Liabilities                 | $ | 1,940,138 |  |   | 2,262,476 |  |
| Combined Equity                      | $ | 1,615,087 |  |   | 1,720,646 |  |
| Regency’s Share of (1)(2):     |   |   |   |   |
| Assets                               | $ | 1,177,792 |  |   | 1,263,400 |  |
| Liabilities                          | $ | 626,644 |  |   | 706,026 |  |

|                                                                                                                                               |
|-----------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                               |  |  |  |  |  |  |  |  |
|                                                                                                                                          | Ownership |   | 2011 |   | 2010 |
| GRI - Regency, LLC (GRIR)                                                                                                                     | 40.00 | % | $ | 289,039 |  |   | 277,235 |  |
| Macquarie CountryWide-Regency III, LLC (MCWR III)                                                                                             | 24.95 | % |   | (244 | ) |   | 63 |  |
| Macquarie CountryWide-Regency-DESCO, LLC (MCWR-DESCO) (1)                                                                                     | — |  |   | — |  |   | 20,050 |  |
| Columbia Regency Retail Partners, LLC (Columbia I)                                                                                            | 20.00 | % |   | 20,797 |  |   | 20,025 |  |
| Columbia Regency Partners II, LLC (Columbia II)                                                                                               | 20.00 | % |   | 9,993 |  |   | 9,815 |  |
| Cameron Village, LLC (Cameron)                                                                                                                | 30.00 | % |   | 17,048 |  |   | 17,604 |  |
| RegCal, LLC (RegCal)                                                                                                                          | 25.00 | % |   | 22,720 |  |   | 15,340 |  |
| Regency Retail Partners, LP (the Fund)                                                                                                        | 20.00 | % |   | 16,696 |  |   | 17,478 |  |
| US Regency Retail I, LLC (USAA)                                                                                                               | 20.01 | % |   | 3,375 |  |   | 3,941 |  |
| Other investments in real estate partnerships                                                                                                 | 50.00 | % |   | 46,036 |  |   | 47,041 |  |
|     Total                                                                                                                 |   | $ | 425,460 |  |   | 428,592 |  |
| (1) At December 31, 2010, our ownership interest in MCWR-DESCO was 16.35%.  The liquidation of MCWR-DESCO was complete effective May 4, 2011. |

----

----

|                              |
|------------------------------|
|                              |  |  |  |  |  |  |
|                         |   | 2011 |   | 2010 |
| Notes payable:               |   |   |   |   |
| Fixed rate mortgage loans    | $ | 442,860 |  |   | 402,151 |  |
| Variable rate mortgage loans |   | 12,699 |  |   | 11,189 |  |
| Fixed rate unsecured loans   |   | 1,509,781 |  |   | 1,671,129 |  |
| Total notes payable          |   | 1,965,340 |  |   | 2,084,469 |  |
| Unsecured line of credit     |   | 85,000 |  |   | 10,000 |  |
| Total                        | $ | 2,050,340 |  |   | 2,094,469 |  |

|                                                      |
|------------------------------------------------------|
|                                                      |  |  |  |  |  |  |  |  |  |  |  |  |
| Scheduled Principal Payments and Maturities by Year: |   | ScheduledPrincipalPayments |   | Mortgage  LoanMaturities |   | UnsecuredMaturities (1) |   | Total |
| 2011                                                 | $ | 1,757 |  |   | — |  |   | 20,000 |  |   | 21,757 |  |
| 2012                                                 |   | 6,998 |  |   | — |  |   | 192,377 |  |   | 199,375 |  |
| 2013                                                 |   | 6,995 |  |   | 16,340 |  |   | — |  |   | 23,335 |  |
| 2014                                                 |   | 6,481 |  |   | 29,743 |  |   | 150,000 |  |   | 186,224 |  |
| 2015                                                 |   | 5,170 |  |   | 46,313 |  |   | 435,000 |  |   | 486,483 |  |
| Beyond 5 Years                                       |   | 29,348 |  |   | 302,207 |  |   | 800,000 |  |   | 1,131,555 |  |
| Unamortized debt (discounts)/premiums, net           |   | — |  |   | 4,207 |  |   | (2,596 | ) |   | 1,611 |  |
| Total                                                | $ | 56,749 |  |   | 398,810 |  |   | 1,594,781 |  |   | 2,050,340 |  |

----

|                                                      |
|------------------------------------------------------|
|                                                      |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Scheduled Principal Payments and Maturities by Year: |   | ScheduledPrincipalPayments |   | Mortgage  LoanMaturities |   | UnsecuredMaturities |   | Total |   | Regency’sPro-RataShare |
| 2011                                                 | $ | 1,803 |  |   | — |  |   | — |  |   | 1,803 |  |   | 550 |  |
| 2012                                                 |   | 12,844 |  |   | 244,418 |  |   | 11,198 |  |   | 268,460 |  |   | 101,476 |  |
| 2013                                                 |   | 16,610 |  |   | 24,373 |  |   | — |  |   | 40,983 |  |   | 14,883 |  |
| 2014                                                 |   | 17,360 |  |   | 77,369 |  |   | — |  |   | 94,729 |  |   | 28,123 |  |
| 2015                                                 |   | 17,402 |  |   | 130,796 |  |   | — |  |   | 148,198 |  |   | 47,762 |  |
| Beyond 5 Years                                       |   | 83,962 |  |   | 1,169,458 |  |   | — |  |   | 1,253,420 |  |   | 391,283 |  |
| Unamortized debt premiums, net                       |   | — |  |   | 4,404 |  |   | — |  |   | 4,404 |  |   | 949 |  |
| Total                                                | $ | 149,981 |  |   | 1,650,818 |  |   | 11,198 |  |   | 1,811,997 |  |   | 585,026 |  |

|                                          |
|------------------------------------------|
|                                          |  |  |  |  |  |  |  |  |  |
|                                     |   | 2011 |   | 2010 |   | Change |
| Minimum rent                             | $ | 90,129 |  |   | 86,486 |  |   | 3,643 |  |
| Percentage rent                          |   | 430 |  |   | 400 |  |   | 30 |  |
| Recoveries from tenants and other income |   | 28,248 |  |   | 27,383 |  |   | 865 |  |
| Management, transaction, and other fees  |   | 6,940 |  |   | 6,524 |  |   | 416 |  |
| Total revenues                           | $ | 125,747 |  |   | 120,793 |  |   | 4,954 |  |

|                                    |
|------------------------------------|
|                                    |  |  |  |  |  |  |  |  |  |
|                               |   | 2011 |   | 2010 |   | Change |
| Asset management fees              | $ | 1,683 |  |   | 1,787 |  |   | (104 | ) |
| Property management fees           |   | 3,667 |  |   | 3,924 |  |   | (257 | ) |
| Leasing commissions and other fees |   | 1,590 |  |   | 813 |  |   | 777 |  |
|                               | $ | 6,940 |  |   | 6,524 |  |   | 416 |  |

----

|                                               |
|-----------------------------------------------|
|                                               |  |  |  |  |  |  |  |  |  |
|                                          |   | 2011 |   | 2010 |   | Change |
| Depreciation and amortization                 | $ | 33,166 |  |   | 30,181 |  |   | 2,985 |  |
| Operating, maintenance, and real estate taxes |   | 31,634 |  |   | 30,935 |  |   | 699 |  |
| General and administrative                    |   | 11,671 |  |   | 17,761 |  |   | (6,090 | ) |
| Provision for doubtful accounts               |   | 326 |  |   | 248 |  |   | 78 |  |
| Other expenses                                |   | 1,901 |  |   | 2,380 |  |   | (479 | ) |
| Total operating expenses                      | $ | 78,698 |  |   | 81,505 |  |   | (2,807 | ) |

|                            |
|----------------------------|
|                            |  |  |  |  |  |  |  |  |  |
|                       |   | 2011 |   | 2010 |   | Change |
| Interest on notes payable  | $ | 29,054 |  |   | 31,828 |  |   | (2,774 | ) |
| Interest on line of credit |   | 396 |  |   | 373 |  |   | 23 |  |
| Capitalized interest       |   | (336 | ) |   | (1,001 | ) |   | 665 |  |
| Hedge interest             |   | 2,367 |  |   | 1,453 |  |   | 914 |  |
| Interest income            |   | (614 | ) |   | (444 | ) |   | (170 | ) |
|                       | $ | 30,867 |  |   | 32,209 |  |   | (1,342 | ) |

----

|                                                                                                                                                |
|------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                |  |  |  |  |  |  |  |  |  |  |  |
|                                                                                                                                           | Ownership |   | 2011 |   | 2010 |   | Change |
| GRI - Regency, LLC (GRIR)                                                                                                                      | 40.00 | % | $ | 2,209 |  |   | 1,305 |  |   | 904 |  |
| Macquarie CountryWide-Regency III, LLC (MCWR III)                                                                                              | 24.95 | % |   | (45 | ) |   | (17 | ) |   | (28 | ) |
| Macquarie CountryWide-Regency-DESCO, LLC (MCWR-DESCO) (1)                                                                                 | — |  |   | 43 |  |   | (193 | ) |   | 236 |  |
| Columbia Regency Retail Partners, LLC (Columbia I)                                                                                             | 20.00 | % |   | 2,004 |  |   | 408 |  |   | 1,596 |  |
| Columbia Regency Partners II, LLC (Columbia II)                                                                                                | 20.00 | % |   | 48 |  |   | 44 |  |   | 4 |  |
| Cameron Village, LLC (Cameron)                                                                                                                 | 30.00 | % |   | 90 |  |   | (107 | ) |   | 197 |  |
| RegCal, LLC (RegCal)                                                                                                                           | 25.00 | % |   | 40 |  |   | 123 |  |   | (83 | ) |
| Regency Retail Partners, LP (the Fund)                                                                                                         | 20.00 | % |   | 99 |  |   | 143 |  |   | (44 | ) |
| US Regency Retail I, LLC (USAA)                                                                                                                | 20.01 | % |   | (45 | ) |   | 9 |  |   | (54 | ) |
| Other investments in real estate partnerships                                                                                                  | 50.00 | % |   | 382 |  |   | 387 |  |   | (5 | ) |
|     Total                                                                                                                  |   | $ | 4,825 |  |   | 2,102 |  |   | 2,723 |  |
| (1) At September 30, 2010, our ownership interest in MCWR-DESCO was 16.35%.  The liquidation of MCWR-DESCO was complete effective May 4, 2011. |

|                                          |
|------------------------------------------|
|                                          |  |  |  |  |  |  |  |  |  |
|                                     |   | 2011 |   | 2010 |   | Change |
| Minimum rent                             | $ | 268,169 |  |   | 257,389 |  |   | 10,780 |  |
| Percentage rent                          |   | 1,488 |  |   | 1,023 |  |   | 465 |  |
| Recoveries from tenants and other income |   | 83,040 |  |   | 83,150 |  |   | (110 | ) |
| Management, transaction, and other fees  |   | 26,993 |  |   | 22,974 |  |   | 4,019 |  |
| Total revenues                           | $ | 379,690 |  |   | 364,536 |  |   | 15,154 |  |

----

|                                    |
|------------------------------------|
|                                    |  |  |  |  |  |  |  |  |  |
|                               |   | 2011 |   | 2010 |   | Change |
| Asset management fees              | $ | 5,089 |  |   | 4,967 |  |   | 122 |  |
| Property management fees           |   | 11,339 |  |   | 11,768 |  |   | (429 | ) |
| Transaction fees                   |   | 5,000 |  |   | 2,594 |  |   | 2,406 |  |
| Leasing commissions and other fees |   | 5,565 |  |   | 3,645 |  |   | 1,920 |  |
|                               | $ | 26,993 |  |   | 22,974 |  |   | 4,019 |  |

|                                               |
|-----------------------------------------------|
|                                               |  |  |  |  |  |  |  |  |  |
|                                          |   | 2011 |   | 2010 |   | Change |
| Depreciation and amortization                 | $ | 100,006 |  |   | 92,324 |  |   | 7,682 |  |
| Operating, maintenance, and real estate taxes |   | 97,269 |  |   | 93,788 |  |   | 3,481 |  |
| General and administrative                    |   | 43,801 |  |   | 45,734 |  |   | (1,933 | ) |
| Provision for doubtful accounts               |   | 2,534 |  |   | 2,634 |  |   | (100 | ) |
| Other expenses                                |   | 1,737 |  |   | 4,071 |  |   | (2,334 | ) |
| Total operating expenses                      | $ | 245,347 |  |   | 238,551 |  |   | 6,796 |  |

|                            |
|----------------------------|
|                            |  |  |  |  |  |  |  |  |  |
|                       |   | 2011 |   | 2010 |   | Change |
| Interest on notes payable  | $ | 87,123 |  |   | 93,733 |  |   | (6,610 | ) |
| Interest on line of credit |   | 1,169 |  |   | 1,114 |  |   | 55 |  |
| Capitalized interest       |   | (1,293 | ) |   | (4,325 | ) |   | 3,032 |  |
| Hedge interest             |   | 7,100 |  |   | 3,209 |  |   | 3,891 |  |
| Interest income            |   | (1,802 | ) |   | (1,759 | ) |   | (43 | ) |
|                       | $ | 92,297 |  |   | 91,972 |  |   | 325 |  |

----

|                                                                                                                                                |
|------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                |  |  |  |  |  |  |  |  |  |  |  |
|                                                                                                                                           | Ownership |   | 2011 |   | 2010 |   | Change |
| GRI - Regency, LLC (GRIR)                                                                                                                      | 40.00 | % | $ | 4,950 |  |   | (1,019 | ) |   | 5,969 |  |
| Macquarie CountryWide-Regency III, LLC (MCWR III)                                                                                              | 24.95 | % |   | (175 | ) |   | (77 | ) |   | (98 | ) |
| Macquarie CountryWide-Regency-DESCO, LLC (MCWR-DESCO) (1)                                                                                      | — |  |   | (316 | ) |   | (611 | ) |   | 295 |  |
| Columbia Regency Retail Partners, LLC (Columbia I)                                                                                             | 20.00 | % |   | 2,488 |  |   | 601 |  |   | 1,887 |  |
| Columbia Regency Partners II, LLC (Columbia II)                                                                                                | 20.00 | % |   | 161 |  |   | 71 |  |   | 90 |  |
| Cameron Village, LLC (Cameron)                                                                                                                 | 30.00 | % |   | 280 |  |   | (344 | ) |   | 624 |  |
| RegCal, LLC (RegCal)                                                                                                                           | 25.00 | % |   | 301 |  |   | 144 |  |   | 157 |  |
| Regency Retail Partners, LP (the Fund)                                                                                                         | 20.00 | % |   | 174 |  |   | 105 |  |   | 69 |  |
| US Regency Retail I, LLC (USAA)                                                                                                                | 20.01 | % |   | 209 |  |   | (89 | ) |   | 298 |  |
| Other investments in real estate partnerships                                                                                                  | 50.00 | % |   | (3,284 | ) |   | 1,211 |  |   | (4,495 | ) |
|     Total                                                                                                                  |   | $ | 4,788 |  |   | (8 | ) |   | 4,796 |  |
| (1) At September 30, 2010, our ownership interest in MCWR-DESCO was 16.35%.  The liquidation of MCWR-DESCO was complete effective May 4, 2011. |

----

----

|                                        |
|----------------------------------------|
|                                        |  |  |  |  |  |  |  |  |  |
|                                   |   |   |   | Maximum number or |
|                                   |   |   | Total number of | approximate dollar |
|                                   | Total number | Average price | shares purchased as | value of shares that may yet |
|                                   | of  shares | paid per | part of publicly announced | be purchased under the |
| Period                                 | purchased (1) | share | plans or programs | plans or programs |
| July 1 through July 30, 2011           | 180 |  | $ | 41.78 |  | — |  | — |  |
| August 1 throughAugust 31, 2011        | 749 |  | 41.26 |  | — |  | — |  |
| September 1 through September 30, 2011 | — |  | — |  | — |  | — |  |
| Total                                  | 929 |  | $ | 41.36 |  | — |  | — |  |

|         |                                 |
|---------|---------------------------------|
| Item 3. | Defaults Upon Senior Securities |

----

|         |                                                                                                                                                                                        |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | should not in all instances be treated as categorical statements of fact, but rather as a way of allocating the risk to one of the parties if those statements prove to be inaccurate; |

|         |                                                                                                                                                                                                        |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | have been qualified by disclosures that were made to the other party in connection with the negotiation of the applicable agreement, which disclosures are not necessarily reflected in the agreement; |

|         |                                                                                                                                  |
|---------|----------------------------------------------------------------------------------------------------------------------------------|
| • | may apply standards of materiality in a way that is different from what may be viewed as material to you or other investors; and |

|         |                                                                                                                                                                         |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | were made only as of the date of the applicable agreement or such other date or dates as may be specified in the agreement and are subject to more recent developments. |

|      |                                                                                                                                                                                                                            |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 10.1 | Third Amended and Restated Credit Agreement dated as of September 7, 2011 by and among Regency Centers, , L.P., the Company, each of the financial institutions party thereto, and Wells Fargo Bank, National Association. |

|       |                                                                                                     |
|-------|-----------------------------------------------------------------------------------------------------|
| 32.1* | 18 U.S.C. § 1350 Certification of Chief Executive Officer for Regency Centers Corporation |

|       |                                                                                                     |
|-------|-----------------------------------------------------------------------------------------------------|
| 32.2* | 18 U.S.C. § 1350 Certification of Chief Financial Officer for Regency Centers Corporation |

----

|    |                                                                                                                                                                                                                                                                                                                                                                      |
|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ** | Pursuant to Rule 406T of Regulation S-T, these interactive data files are deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, and deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934 and otherwise are not subject to liability under such sections. |

|   |                                                                                                                                    |
|---|------------------------------------------------------------------------------------------------------------------------------------|
| + | Due to XBRL requirements of co-registrant filings, the XBRL exhibits will be furnished by amendment later today, November 9, 2011. |

----

|                  |
|------------------|
|                  |  |  |
| November 8, 2011 | REGENCY CENTERS CORPORATION and REGENCY CENTERS, L.P. |
|             | By: | /s/ Bruce M. JohnsonBruce M. Johnson, Executive Vice President, Chief Financial Officer (Principal Financial Officer), and Director |
|             |   | /s/ J. Christian LeavittJ. Christian Leavitt, Senior Vice President and Treasurer (Principal Accounting Officer) |