Regency Centers Corporation earnings call

Thank you, Alan, and good morning, everyone. During the second quarter, we continued to build on the success of our investments platform, further extending our external growth trajectory. We made meaningful progress across development, redevelopment, and acquisition activity, in addition to identifying future opportunities. Our new project pipeline as a result we've raised our eye level on new development and redevelopment projects and now expect starts in 2026 to approach 400 million dollars this truly is a unique story to Regency we have a visible external growth pipeline that results in real value creation on top of earnings accretion it also allows us to approach acquisitions as opportunistic and strategic rather than as a required deployment of capital this is especially valuable in environments like today and continue to compress cap rates. Year-to-date, we've started more than $140 million of new projects, one of the highlights of which was the start of the Berkeley at Durbin Park during the second quarter. This $55 million ground-up project will be anchored by Whole Foods and TJ Maxx, located within a vibrant master plan community in a strong suburb of Jacksonville. We're also making great progress executing on our $680 million end process pipeline, for which we continue to expect blended returns of 9%. and Accelerate Rank Commencements. This includes the recent early openings of Trader Joe's at Golden Hills in Central California and Kroger at Westchester Plaza in Cincinnati. These are just a few great examples of the success and positive trends across our pipeline. In closing, our ability to increasingly source new and exciting projects is a testament to the flywheel effect I've referred to in the past. We are excited about the opportunities in front of us as our recent successes, retailer relationships, Thank you, Nick, and good morning, everyone.

Thank you, Alan, and good morning, everyone. During the second quarter, we continued to build on the success of our investments platform, further extending our external growth trajectory. We made meaningful progress across development, redevelopment, and acquisition activity, in addition to identifying future opportunities. Our new project pipeline as a result we've raised our eye level on new development and redevelopment projects and now expect starts in 2026 to approach 400 million dollars this truly is a unique story to Regency we have a visible external growth pipeline that results in real value creation on top of earnings accretion it also allows us to approach acquisitions as opportunistic and strategic rather than as a required deployment of capital this is especially valuable in environments like today and continue to compress cap rates. Year-to-date, we've started more than $140 million of new projects, one of the highlights of which was the start of the Berkeley at Durbin Park during the second quarter. This $55 million ground-up project will be anchored by Whole Foods and TJ Maxx, located within a vibrant master plan community in a strong suburb of Jacksonville. We're also making great progress executing on our $680 million end process pipeline, for which we continue to expect blended returns of 9%. and Accelerate Rank Commencements. This includes the recent early openings of Trader Joe's at Golden Hills in Central California and Kroger at Westchester Plaza in Cincinnati. These are just a few great examples of the success and positive trends across our pipeline. In closing, our ability to increasingly source new and exciting projects is a testament to the flywheel effect I've referred to in the past. We are excited about the opportunities in front of us as our recent successes, retailer relationships, Thank you, Nick, and good morning, everyone.

Yeah, Giant Eagle is Pittsburgh-based, and that is the announcement with Kroger, of which we don't own any Giant Eagles in our portfolio. And when you think about the 500 assets, the only overlap for us from a market perspective would be Columbus, Ohio. And again, so it's super de minimis. I think there's maybe three Kroger Centers, you know, that have sort of some trade area overlap there. But you're not the first. There's a lot of people that see Giant and assume the Giant that's in Maryland, which is the outhold, as you mentioned, versus the Giant Eagle out of Pittsburgh. So, again, I don't think it's not much of a material thing for Regency.