Equity One (EQY) 8-K Quality retail properties located in supply constrained communities in major coastal markets of the United States

Exhibit 99.1

Investment Considerations

1

Quality retail properties located in supply constrained communities in major coastal markets of the United States

Capital recycling plan divesting lower tier non-core assets will be substantially completed by the end of 2014

-

Approximately

$2

billion

of

acquisitions

in

target

markets

since

2009

-

Approximately $1 billion of dispositions of non-strategic, non-core assets since 2011

Upgraded portfolio provides attractive pipeline of re/development investment opportunities

Diversified tenant mix provides stable and growing stream of cash flow

Strong balance sheet with modest leverage, ample liquidity and well-laddered debt maturities

Financial capacity and proven ability to execute on opportunistic acquisitions and re/developments

We are a premier operator of quality retail properties and are well positioned for continued growth

Portfolio Well Diversified in Major Supply Constrained Coastal Markets  

2

(1)

Includes

acquisitions

and

dispositions

completed

and

under

contract

as

of

10/29/2014,

and

includes

development

and

redevelopment

properties.

Excludes

land,

non-retail

assets (except Westwood in MD), and unconsolidated JV properties. Estimated fair market values are based on IFRS values as of 9/30/2014.  Maryland base rent is retail only.

(2)

In millions of square feet.

($ Millions, Except Avg. Base Rent)

Estimated FMV:  $681

% of FMV:  17%

Estimated FMV:  $214

% of FMV:  6%

Estimated FMV: $1,306

% of FMV:  34%

Estimated FMV:  $201

% of FMV:  5%

Estimated FMV:  $974

% of FMV:  25%

Estimated FMV:  $403

% of FMV:  10%

$ FMV

(1)

% FMV

# of

Prop.

GLA

(2)

Avg. Prop.

Value

Avg. Base

Rent PSF

Florida

$1,377

35%

57

7.1

$24

$15

California

$895

23%

11

2.4

$81

$23

New York

$699

18%

8

1.1

$87

$39

Connecticut

$330

9%

8

1.0

$41

$20

Georgia

$201

5%

9

1.0

$22

$16

Maryland

$142

4%

1

0.5

$142

$19

Massachusetts

$135

3%

7

0.6

$19

$19

Louisiana

$74

2%

7

0.9

$11

$10

North Carolina

$23

1%

3

0.4

$8

$7

Total

$3,876

100%

111

14.9

$35

$18

Corporate Snapshot

3

We own, manage, acquire, develop and redevelop quality retail properties located in supply constrained

communities in major coastal markets of the United States

As of September

30, 2014, we owned

111 operating

properties

in 9 states

Our capital recycling program has significantly improved our geographic diversification and portfolio demographics

Our largest geographic markets as measured by approximate fair market values are New York Metro (27%),

South Florida

(25%),

and

California

(23%)

Our properties have average population within 3 miles of 214k and average household income within 3 miles of

$102k

The

grocer

sales

in

our

portfolio

average

in

excess

of

$625

per

square

foot

As

of

September

30,

2014,

our

total

equity

market

capitalization

and

total

enterprise

value

were

$2.9

billion

and

$4.3 billion, respectively

We

have

investment

grade

credit

ratings

of

Baa2

(stable)

from

Moody’s

and

BBB-

(positive)

from

S&P

(4)

(1)

(3)

(2)

(5)

(1)

Includes acquisitions and dispositions completed and under contract as of 10/29/2014, and development and redevelopment properties.  Excludes land, non-

retail assets, and unconsolidated JV properties.  Additionally, we have joint venture interests in 18 retail properties and two office buildings totaling

approximately 3.2M sf.

(2)

Based on total estimated fair market value of operating property portfolio as of 9/30/2014.  Includes acquisitions and dispositions completed and under

contract as of 10/29/2014, and development and redevelopment properties.  Excludes land, non-retail assets, and unconsolidated JV properties.

(3)

Demographic data based on weighted estimated fair market value of assets. Includes acquisitions and dispositions completed and under contract as of

10/29/2014, and development and redevelopment properties. Source: Sites USA.

(4)

Grocer sales based on most recent available data as of 6/30/2014 and weighted by GLA.  Excludes grocers who have vacated but are still paying rent.

(5)

Based on diluted shares of 134.4M.

3Q14 Summary Highlights

Earnings

3Q14 Recurring FFO was $0.31/share, up 3% vs. 3Q13.  YTD Recurring FFO was $0.98/share, up 5% vs. prior year, and benefitted by

$0.04/share from the 1Q14 pick-up from the Loehmann’s below market lease liability write-off and a bad debt expense reversal.

Operating

fundamentals

Same property NOI increased 2.5% vs. 3Q13, driven primarily by new lease rent commencements and contractual increases. Adjusted

to include two redevelopment assets with stabilized NOI but pending reentry to the SS pool, SS NOI increased 3.9% vs. 3Q13

Consolidated shopping center occupancy was 94.4%, up 20 bps vs. 2Q14 and up 200 bps vs. 3Q13. Consolidated shop occupancy was

85.5%, up 70 bps vs. 2Q14, and the highest level in six years.

SS occupancy was unchanged at 94.4% vs. 2Q14, and up 10 bps to 94.4% vs. 3Q13

Executed 122 new leases, renewals and options, totaling 596k sf at an average rent spread of 9.2% on a same space basis, including

177k sf of new leases at an average rent spread of 2.3% on a same space basis

Average base rents were $17.00/sf, up 1.9% vs. 2Q14 and up 9.5% vs. 3Q13

Disposition

activities

Sold eight non-core assets for $64M during 3Q14.  YTD through 10/29/2014, sold twenty non-core assets for $142M, and had an

additional

$8M

of

non-core

assets

under

contract.

The

capitalization

rate

for

assets

sold

and

under

contract

for

sale

was

7.9%

(1)

Development

and

redevelopment

activities

Ended 3Q14 with a $134M active gross re/development pipeline, $52M of which remained to be incurred

At Broadway Plaza Phase I, The Sports Authority, TJ Maxx, Aldi and Party City have opened, and a new lease was signed with Five

Below.  Phase II (33k sf) is under construction and leases have been signed with Blink Fitness (16k sf) and Starbucks (1.4k sf).

At Alafaya Commons, demolition work ongoing for the 63k sf Academy Sports, which is expected to open in 1Q15

At 101 7th Avenue, work ongoing to prepare the space for a new Barneys New York flagship store, which is expected to be delivered by

1Q15 so that Barneys may commence its build-out.  Barneys New York is expected to open late 1Q16.

Other re-tenanting / expansion projects underway at Ambassador Row Courtyards, South Beach Regional, Compo Acres and Darinor

Financing

activities

and

balance

sheet

Raised $105M net proceeds in a common stock offering to fund re/development and repay near-term debt maturities

4

(1)

Capitalization rate is weighted average and excludes an asset which was sold via short-sale transaction for $5.4M.

Quality of Earnings Has Been Upgraded via Capital Recycling

5

Strategy to upgrade and diversify asset base commenced in 2009 and will be substantially complete by year

end 2014

Increased concentration of rents in supply constrained markets characterized by superior demographics, and

reduced exposure to lower quality assets

Population density and average household income of asset base have increased 164% and 34%, respectively,

since 2008

Average base rents have increased 22% since 4Q11 and 37% since 4Q10

Average base rents of Top 25 tenants have increased 48% since 4Q11 and 65% since 4Q10

Top 25 tenants are a well diversified mix of leading retailers including Trader Joe’s, The Container Store,

Nordstrom, CVS Pharmacy, Dick’s Sporting Goods, and TJX Companies, paying rents commensurate with the

high quality of our real estate

Publix

exposure

reduced

from

11%

of

annual

minimum

rents

in

2010

to

3%

in

3Q14

YTD 3Q14, 50% of NOI was generated from high barrier northeast and west coast markets vs. 15% in 2010

Improved Portfolio Quality Shows in Operating Fundamentals

6

(1)

NOI growth is presented on a same property cash basis for each respective period end.

(2)

For the consolidated shopping center portfolio as of each respective period end.  Excludes development and redevelopment properties, and non-retail assets.

(3)

If adjusted for two redevelopment assets (Boca Village Square and Dick’s Sporting Goods at Serramonte Shopping Center), which have stabilized cash NOI but are not yet

included in the same property pool, YTD SS NOI increased 3.3% vs. same period of 2013.

Consolidated Occupancy

(2)

SS NOI Growth %

(1)

Average Base Rent

(2)

•

Full year target: +2.5% to +3.25%

•

If adjusted for Redev: 3.3% YTD

(3)

•

2.4% YTD impacted by small number

of low value assets that are targeted

for disposition

•

+200 bps YTD

•

Goal at beginning of year: 95%

3.3%

•

+22% since 2011

1.3%

3.3%

3.1%

2.4%

0%

1%

2%

3%

4%

5%

6%

2011

2012

2013

YTD 2014

$13.97

$14.58

$16.16

$17.00

$10

$11

$12

$13

$14

$15

$16

$17

$18

$19

$20

2011

2012

2013

YTD 2014

90.7%

92.1%

92.4%

94.4%

90%

91%

92%

93%

94%

95%

96%

97%

98%

2011

2012

2013

YTD 2014

Improved Portfolio Quality Shows in Operating Fundamentals

7

Rent

Spread

–

Total

New

Leases,

Renewals

&

Options

(1)

Rent Spread –

New Leases

(1)

•

Negotiated renewal spreads were

9.0% YTD and 15.7% for the 3Q

6.3%

12.7%

8.4%

0%

2%

4%

6%

8%

10%

12%

14%

16%

18%

2012

2013

2014 YTD

6.6%

11.1%

6.8%

0%

2%

4%

6%

8%

10%

12%

14%

16%

18%

2012

2013

2014 YTD

(1)

Rent spreads for new leases reflect same-space leasing where amount of rent paid by prior tenant is available regardless of the amount of time the space has been vacant.

Including

the

Barneys

New

York

lease

at

101

7

Ave,

new

lease

rent

spreads

were

57.6%

for

2013.

Including

the

Roses

lease

at

Park

Promenade,

new

lease

rent

spreads

were

negative

1.1%

for

2014

YTD.

Including

the

Barneys

New

York

lease

at

101

7

Ave,

total

rent

spreads

were

23.0%

for

2013.

Including

the

Roses

lease

at

Park

Promenade,

total

rent spreads were 4.8% for 2014 YTD.

th

th

Progress Against 2014 Strategic Goals

8

Meet or exceed fundamental operating goals

Increase SS NOI +2.5% to 3.5%

Year-end SS occupancy of 95%

Recurring FFO of $1.23 to $1.28 per fully diluted share

Continue to upgrade portfolio quality and demographic

profile through strategic transactions

Core acquisition activity of $100 to $200M, in addition to the

$103M closed in January 2014

JV acquisition activity of $100 to $200M

Non-core asset dispositions of $125 to $175M

Continue to strengthen development and redevelopment

pipeline

Complete construction of Broadway Plaza Phase I, four anchors

commence rent by year-end

Substantially complete construction of redevelopment projects at

Boca Village, Lake Mary Centre, and Boynton Plaza

Substantially advance construction of Broadway Plaza Phase II and

Willows Shopping Center

Establish additional redevelopment and densification plans at

Serramonte and Potrero in the West Coast

Establish redevelopment plans at Westwood in Bethesda, MD

Maintain low leverage and ample liquidity

Continue to strengthen credit metrics and maintain large

unencumbered asset base

Operating

Fundamentals

Capital

Recycling

Value

Creation

Balance Sheet

Management

2014 Goals

3Q14 Progress Assessment

YTD SS NOI +2.4%, revised guidance range 2.5% to 3.25%

SS Occupancy 94.4% at 3Q14, year-end goal still 95%

Raised guidance to range of $1.27 to $1.28/share

Reduced core guidance to zero for 4Q14

Reduced JV guidance to zero for 4Q14

$142M non-core assets sold YTD, an additional $8M under

contract, raised guidance to $150 to $175M

All four anchors at Broadway Plaza Phase I opened, new lease

with Five Below signed bringing leased rate to 78%

Boca Village and Lake Mary Centre (phase I) completed.  Boynton

will be substantially completed 1Q15.

Broadway Plaza Phase II construction underway, two leases

signed, center to open 3Q15; Ulta and UFC at Willows opened

Planning progressing for Serramonte next phase and Potrero

Re-zoning process commenced for Westwood redevelopment

Strong balance sheet with improved leverage and liquidity, YTD

net debt/ EBITDA 5.6x

77% unencumbered cash NOI (same property pool)

Disciplined Capital Allocation Has Preserved A Strong Balance Sheet

9

Key balance sheet statistics as of September 30, 2014:

In Millions

(1)  Excludes any amounts drawn under the revolving credit facility which expires on 9/30/15. The revolving credit facility was undrawn at 9/30/2014.

Note: Debt maturity schedule as of 9/30/2014. Secured Debt amounts include scheduled principal amortization. Rates for Secured Debt exclude principal amortization and are based

on weighted average of balances as of 9/30/2014.  Credit facility is presented as due on the initial maturity date.

$575M revolving credit facility which matures

September 30, 2015 with a one year extension option

-

In the process of renewing facility sized at $600M

with improved pricing, more favorable covenants,

and increased value from unencumbered asset

pool

Strong lending relationships with both traditional

banks and life insurance companies

Demonstrated access to the public markets

Modest leverage, ample liquidity and well-laddered

debt maturities

5.38%

6.00%

6.12%

3.75%

3.17%

5.29%

5.96%

5.58%

6.25%

6.48%

6.14%

6.39%

$2

$174

$234

$289

$62

$274

$6

$18

$306

$23

$0

$50

$100

$150

$200

$250

$300

$350

2014

2015

2016

2017

2018

2019

2020

2021

2022

Thereafter

Secured Debt

Senior Notes

Term Loan

Credit Facility

-

Net Debt to Adjusted EBITDA:   5.6x

-

Adjusted EBITDA to Interest Expense:   3.6x

-

Adjusted EBITDA to Fixed Charges:   3.2x

-

Net Debt to Total Market Cap:   30.6%

-

Net Debt to Gross Real Estate:   39.9%

-

Weighted

average

term

for

total

debt:

4.3

years

(1)

-

Weighted

average

interest

rate

on

total

debt:

4.96%

(1)

Below market

leases

Significant below market leases recently recaptured

-

1175

Third

Avenue

(New

York,

NY)

-

Food

Emporium

paid

$42

psf,

paying

$105

psf

since

2Q13

-

Aventura

Square

(Aventura,

FL)

-

Old

Navy

paid

$18

psf,

lease

expired

1/2014,

executed

renewal

during

2Q13 at $45 psf which commenced 2/2014

-

101

7th

Avenue

(New

York,

NY)

-

Loehmann’s

paid

$25

psf,

Barneys

will

pay

~$80

psf

starting

1Q16

Circle

Center

West

(Long

Beach,

CA)

-

Marshalls

pays

$10

psf,

lease

expires

1Q16,

executed

renewal

during 3Q14 at $21 psf starting 1Q16

Additional below market leases to be captured in coming years are significant

-

Aventura

Square

(Aventura,

FL)

-

DSW

pays

$20

psf,

lease

expires

2018

-

Westwood

(Bethesda,

MD)

-

Giant

Food

pays

$2

psf,

lease

expires

2019

-

Copps

Hill

(Ridgefield,

CT)

-

Kohl’s

pays

$2.40

psf,

lease

expires

2021

-

Circle

Centers

(Long

Beach,

CA)

-

two

additional

anchor

tenants

expiring

2018

and

2022,

~50%

of

market

-

The

Village

Center

(Westport,

CT)

-

in

process

of

re-tenanting

spaces

with

previous

below

market

leases

-

Pleasanton

Plaza

(Pleasanton,

CA)

-

several

below

market

leases

rolling

in

next

several

years

Increase shop

occupancy

Shop occupancy was 85.5% at 9/30/2014, up 10 bps Q/Q same site, driven by 120 bps gains in Florida

Leadership is focused on Florida, which has the greatest opportunity to drive shop occupancy gains

Redevelopment

and site

densification

Acquired properties provide opportunity for redevelopment and densification

-

Serramonte (CA) -

entertainment wing and restaurants will be next phase

-

Westwood (MD) -

opportunity to increase density, will likely include residential component

-

Pleasanton

(CA)

/

Darinor

Plaza

(CT)

-

expansion

and

additional

outparcel

opportunities

Selective core

acquisitions

We will continue to seek acquisitions in our core urban markets

Focus

on

assets

with

highly-productive

anchors,

below

market

anchor

rents,

and

redevelopment

opportunities

Expense control

Intense focus on managing general and administrative costs throughout organization, and on cost recovery

and careful management of non-recoverable costs

Our Path to Sustained NOI Growth

10

Our Path to Increased Occupancy

11

Key strategic goal heading into 2014 was to increase occupancy from 92.4% at 4Q13 to 95% by 4Q14 through a

combination of capital recycling and organic leasing

-

3Q14 consolidated shopping center occupancy increased to 94.4%, up 200 bps vs. 4Q13

-

3Q14 Florida same property occupancy increased 50 bps vs. 2Q14, driven by 35k sf of net lease-up, primarily

shop space (Florida sequential quarter shop occupancy up 120 bps)

-

Continued organic lease-up and disposition of a few non-core assets is expected to further raise consolidated

occupancy by year-end to near 95%

Organic growth expected to be driven by

-

Targeting tenants benefitting from improved local economic conditions (food users, value oriented/ discounters,

franchise operators, health and fitness users, specialty grocers, and mobile phone stores)

-

Investment in site redevelopment and anchor re-tenanting, as new and better anchor tenants drive traffic to

shop space and increase demand for shop space

-

Focus on attracting stronger shop operators, including national franchise operators

Continued emphasis is on Florida which contains the greatest opportunity

Leadership is Focused on Leasing Execution

12

Consolidated

shopping

center

occupancy

trends

(1)

New leadership has implemented changes focused on driving occupancy

-

Added four new agents focused on the southeast and Florida assets

-

New leasing commission structure to incent shop leasing

-

Process changes focused on increasing speed of decision making

-

New lease tracking system focused on getting quicker rent commencements

Tenant concentration is well diversified, no tenant generates more than 3.7% of AMR

-

~75% of AMR generated from national / franchise tenants

-

~60% of shopping centers are grocery-anchored

Total

Anchor

Shop

September 30, 2014

94.4%

99.0%

85.5%

March 31, 2014

93.9%

99.3%

83.6%

December 31, 2013

92.4%

97.8%

82.1%

September 30, 2013

92.4%

98.1%

81.5%

(1)  Data for occupancy is for the consolidated portfolio, and excludes development and redevelopment properties, non-retail properties, and unconsolidated joint ventures.

Florida comprises 47% of operating portfolio GLA, 39% of YTD total cash NOI, and 35% of estimated fair value

Vacant GLA in Florida accounts for approximately 60% of total company vacant GLA, and 98% of vacant Florida

GLA is shop space

Florida occupancy was adversely affected by the economic downturn in 2009, but has been showing signs of

steady recovery

(1)

Future lease-up in Florida is focused on the following

-

Shop lease-up in targeted food use categories (fast casual, coffee/breakfast, specialty restaurants)

-

Service use categories related to health care, urgent care and dental offices

-

Combining vacant shop space to facilitate new junior anchors

-

Lack of new construction starts provides more opportunities to replace weaker retailers

-

Targeting tenants least impacted by e-commerce (convenience and value oriented users)

Improving

Florida

shop

occupancy,

at

80.9%

at

9/30/2014

including

redevelopment

properties,

has

a

meaningful

impact to NOI

(2)

-

Total

“lost

revenue”

due

to

Florida

shop

vacancy

is

approximately

$11.5M

annually

(2)

-

Every

100

basis

point

increase

in

shop

occupancy

adds

approximately

$600k

revenue

annually

(2)

GLA

Total Occupancy

Avg. Base Rent

September 30, 2014

6,304,360

92.9%

$15.02

September 30, 2013

7,137,706

90.5%

$13.78

September 30, 2012

7,518,394

90.3%

$13.43

September 30, 2011

9,362,192

89.7%

$12.82

Florida –

Past Risk and Drag, Now an Attractive Opportunity

13

(1)

Data for Florida occupancy and average base rents is for the consolidated portfolio, and excludes redevelopment properties.

(2)

Florida shop space lost revenue and occupancy sensitivity analysis is based on the Florida operating portfolio including redevelopment properties, as presented in the appendix. 

“Lost revenue”

includes estimated base rents and estimated NNN reimbursements.

South Florida

14

Jacksonville

15

Orlando

16

Tampa

17

Sun Coast

18

Significant Development and Redevelopment Opportunities Will Help

Drive Future Growth

19

Large scale expansions

and new ground up

construction

Broadway Plaza -

based on retail demand, expanded project and building new 33k sf two-story

building

adjacent

to

existing

Phase

I

development.

Blink

signed

as

anchor

for

second

level.

Serramonte

Center

-

restaurant

outparcels,

entertainment

wing,

new

anchors

(e.g.,

Dick’s)

Westwood

Center

-

redevelop

“1950s”

neighborhood

center

to

capitalize

on

superior

demographics

Potrero

Center

-

further

densify

site

and

consider

multi-family

component

Consolidate poorly

utilized shop space for

junior and mid box

anchors

Kirkman

Shoppes

-

L.A.

Fitness

(41k

sf)

backfilling

poorly

configured

corner

space,

also

adding

new

free-standing 16k sf Walgreens outparcel

Pablo

Plaza

-

identified

30k

sf

of

shops

that

can

be

backfilled

with

junior

boxes

Replace

underperforming anchor

stores with stronger

operators

101

7th

Avenue

-

replacing

Loehmann’s

with

Barneys

New

York

Lake

Mary

Centre

(phase

II)

-

backfilling

Kmart

box

with

Academy

Sports

and

another

junior

anchor

Charlotte

Square

-

have

backfilled

local

furniture

operator

with

Wal-Mart

Neighborhood

Market

Expand successful

anchor tenants

Boynton

Plaza

-

building

Publix

a

new

54k

sf

store

Ambassador

Row

Courtyards

-

adding

Cost

Plus

World

Market

in

reconfigured

space

South

Beach

Regional

-

adding

Trader

Joe’s

to

backfill

poorly

configured

shop

space,

also

adding

Ulta

Countryside

Shops

-

build

new

Publix

and

backfill

existing

box

with

value-oriented

retail

/

restaurants

Add outparcels / expand

existing food users

Darinor

Plaza

-

adding

new

Starbucks

pad

Our upgraded portfolio of larger dominant assets contains a pipeline of attractive redevelopment opportunities

Several Significant Re/Development Assets Will Help to Drive

Growth from In-Place Cash NOI to Future Cash NOI

20

Re/Development Asset

Market

2014E NOI

Future NOI

(1)

Estimated

Timing

Estimated

Cap Rate

(2)

The Gallery At Westbury Plaza

Long Island, NY

~ $12M

$14M +

2016

5.0%

Broadway Plaza

Bronx, NY

< $0.5M

$5M +

2016-2017

5.0%

Willows Shopping Center

Concord, CA

< $5M

$6M +

2016

5.0%

101

7

th

Avenue

New York, NY

$0M

~ $3.9M

2016-2017

4.0%

Boynton Plaza

Boynton Beach, FL

~ $1.1M

~ $2M

2016

5.5%

Lake Mary Centre

Lake Mary, FL

~ $2.8M

$4M +

2016

6.0%

Kirkman Shoppes

Orlando, FL

~ $1.1M

~ $2.4M

2016

6.5%

Boca Village Square

Boca Raton, FL

~ $1.2M

~ $2M

2016

5.0%

(1)  Estimated future NOI represents annual run rate upon stabilization of anchor rents and, if applicable, other expected center lease-up.

(2)  Estimated

capitalization

rate

for

similar

quality

assets

in

similar

markets

in

today’s

transaction

environment.

The Gallery at Westbury Plaza Garden City, NY

21

Location

Garden City, NY

GLA

312k sf

Development budget

(1)

$128.6M

Estimated cost to complete as of 9/30/2014

$4.9M

Lease-up and operating status

Opened Fall 2012.  Project was substantially completed 4Q13 and was

94% leased as of 9/30/2014.  Will enter the same property pool in 1Q15.

Key tenants

Saks Off Fifth, Bloomingdale’s, Nordstrom Rack, Old Navy, Trader Joe’s,

Ulta, Home Goods, GAP, Banana Republic, The Container Store, Shake

Shack, Starbucks, SA Elite, Verizon, Bank of America, Famous Footwear,

Charming Charlie, GNC, Lane Bryant, Noodles, Ruby & Jenna, Red Mango

Expected stabilized yield

~11%

(1)

Net estimated cost including estimate of tax refunds for eligible costs incurred as part of participation in New York State’s Brownfield Cleanup Program.

The Gallery at Westbury Plaza Garden City, NY (Continued)

22

Broadway Plaza Development Bronx, New York

23

Broadway Plaza Development Bronx, New York (Continued)

24

(1)  Includes land cost.

Location

Bronx, NY

GLA

148k sf total project GLA, with Phase I comprising 115k sf

and Phase II comprising an additional 33k sf on corner of

Broadway and West 230th.

Development budget

$66.5M

Incurred as of 9/30/2014

(1)

$52.2M

Estimated cost to complete

$14.3M

Phase I

All four anchors including The Sports Authority (30k sf), TJ

Maxx (24k sf), Aldi (18k sf), and Party City (10k sf),

representing 72% of GLA, opened for business.  Recently

signed lease with Five Below (9k sf), and in discussions

on remaining space.

Lease-up -

Phase II

Leases signed with Blink Fitness (16k sf) for the entire

second level, and Starbucks (1.4k sf) on the ground floor. 

Phase II is under construction and is expected to begin

opening in stages in 3Q15.

Target NOI stabilization

1Q16

Expected stabilized yield

8% -

9%

Broadway Plaza Development Bronx, New York (Continued)

25

Broadway View

Broadway Plaza Development Bronx, New York (Continued)

26

Serramonte Shopping Center Daly City, California

27

Expansion

(1)

The budget was increased by $2M from the original budget due to the tenant’s request for modifications to the space in exchange for increased rent.

Dick’s redevelopment

•

The new Dick’s Sporting Goods was completed

within budget and turned over to the tenant, and

a successful grand opening occurred in April

•

Dick’s is the mall’s fourth anchor, joining Target,

JC Penney, and Macy’s

•

Phase I of a multi-year, multi-phase plan to re-

brand and expand the property

Dick’s GLA

84k sf

Dick’s budget / incurred

(1)

$19M

Dick’s expected stabilized yield

~10%

Expected to enter SS NOI pool in 3Q15

Future redevelopment

•

Future phases at Serramonte may add 100k to

200k sf of additional GLA including a grocery

store, pharmacy, discounters, a theater, more

restaurants, and entertainment

Serramonte Shopping Center Daly City, California (Continued)

28

Expansion Projects

Potrero Shopping Center San Francisco, California

29

Background

Future redevelopment goals

•

Densify the site with additional retail and

potentially residential units

•

200 Potrero Avenue, an adjacent 30k sf

building acquired in 4Q12 for $6M, provides

additional flexibility to relocate tenants and

improve Potrero Center over time

•

Potrero Shopping Center was acquired in

March 2012 for $111M

Westwood Shopping Center Bethesda, Maryland

30

Description

•

22 acre property in Bethesda, Maryland comprised of

seven parcels, including 214k sf of retail space and

252k sf of residential space

•

Superior demographics with 3 mile population of

140k and average household income of $200k+

•

Closed on final two parcels in January 2014, bringing

total investment in property to $140M

Opportunity

•

Redevelop “1950s”

shopping center in heart of highly

affluent D.C. suburb, including upgrading tenant mix

•

Significant below market lease with anchor Giant

Food expiring 2019 with no options

•

Re-zoning process has commenced

Westwood Shopping Center Bethesda, Maryland (Continued)

31

Willows Shopping Center Redevelopment

Concord, CA

32

Redevelopment Plan

Challenges

Too many interior facing shop spaces

Poor traffic patterns limiting shopping in

the rear of the center

Insufficient gathering spaces and

amenities to take advantage of the

center’s longstanding connection to the

community

Architectural design is unconventional

and outdated

Create new access road to improve

circulation and visibility for shop

tenants

New architectural design to improve

roof lines, refresh color scheme and

use modern materials

Create a community plaza with play

areas and green space well suited to

host events and drive ancillary income

Prior Site Plan

Willows Shopping Center Redevelopment

Concord, CA (Continued)

33

Proposed Site Plan

Location

Concord, CA

GLA total center

252k sf

GLA redevelopment

49k sf (19%)

Redevelopment budget / to be incurred

$13.5M / $5.8M

Project

•

~$1M has been invested to replace a 12k sf dated restaurant building with a popular new

concept, Lazy Dog, occupying 9k sf

•

An additional $12M will be invested to construct 20k sf of new buildings for a new Ulta junior

anchor, an expanded UFC Gym, and new shop space; renovate facades on 20k sf of

challenging shop space; and construct two new vehicular roads and an open pedestrian

area

•

New 10k sf Ulta and 5k sf UFC expansion recently opened

•

Interior courtyard reconfiguration and road started in 2Q14, expected to complete early 2015

Target stabilization date

3Q 2015

Expected stabilized yield

~8%

101 7th Avenue New York, New York

34

Background

•

57k sf

four-story retail condominium acquired 2Q11

with Loehmann’s

as sole tenant

•

Lease expiration date was March 2016

•

$25 psf, $1.4M per year, well below market

•

Loehmann’s

filed bankruptcy 4Q13

Barneys New York

•

Executed lease in 4Q13 with Barneys

•

Barneys returns “home”

to location of original

flagship store in Manhattan

•

Barneys plans to invest significant capital to

redevelop store

•

New rent of $4.5M per year commencing by 2Q16,

221% spread

•

20-year term with option increases

Total Redevelopment Budget

$12.5M

Florida Redevelopment Opportunities

35

Lake Mary Centre, Lake Mary, FL

Boynton Plaza, Boynton Beach, FL

Budget

(1)

$7.6M

Incurred as of 9/30/2014

$4.4M

Target stabilization

(2)

2Q15

Description

•

Publix expansion

•

54k sf project GLA, 107k sf

property GLA

Budget

$12.5M

Incurred as of 9/30/2014

$5.6M

Target stabilization

(2)(3)

2Q15

Description

•

The Fresh Market and Ross

opened for business 2Q14 in the

former Albertson’s space

•

Signed 63k sf lease with Academy

Sports for majority of former Kmart

space, expected to be delivered in

1Q15

(1)

Net estimated project cost.

(2)

Date that construction is expected to be complete and the anchor(s) commence rent.

(3)

The first phase comprised of The Fresh Market and Ross was stabilized in 2Q14, and the second phase comprised of Academy Sports is expected to stabilize in 2Q15.

Florida Redevelopment Opportunities (Continued)

36

Kirkman Shoppes, Orlando, FL

Budget

$13.1M

Incurred as of 9/30/2014

$6.8M

Target stabilization

(1)

3Q15

Description

•

Anchor re-tenanting with 41k sf

L.A. Fitness under construction,

expected to open 1Q15 and

commence rent 3Q15

•

16k sf free-standing Walgreens with

construction well underway and the

store is expected to open 1Q15

(1)

Date that construction is expected to be complete and the anchor(s) commence rent.

Florida Redevelopment Opportunities (Continued)

37

Boca Village Square, Boca Raton, FL

Budget

(1)

$10.9M

Incurred as of 9/30/2014

$9.1M

Target stabilization

(2)

3Q14

Description

•

Redevelopment of CVS Pharmacy

adding a drive-thru

•

Eliminating interior courtyard space

and enhancing shop visibility

•

42k sf project GLA, 92k sf property

GLA

•

Property is pending twelve month

stabilization and is expected to

enter the SS NOI pool in 4Q15

(1)

Net estimated project cost.

(2)

Date that construction is expected to be complete and the anchor(s) commence rent.

4Q 2013 Acquisition:  Pleasanton Plaza Pleasanton, CA

38

Acquisition Date

October 2013

Price

$30.9M

Debt Assumed

$20.0M due

6/2015

Total GLA

163k

Leased Rate at 9/30/2014

95%

3 Mile Avg. Income

>$120k

Asset Strategy

•

Anchors significantly below market

•

Expansion and redevelopment opportunities

•

Potential to add one or more outparcels

•

Upgrade facade, parking lot, and add amenities and restaurants

4Q 2013 Acquisition:  The Village Center Westport, CT

39

Acquisition Date

October 2013

Price

$54.3M

Debt Assumed

$15.7M due

6/2019

Total GLA

89k

Leased Rate at 9/30/2014

86%

3 Mile Avg. Income

>$220k

Asset Strategy

•

Forcing vacancy of selected shop

spaces in preparation for an upscale

redevelopment that will entail a

complete remerchandising with

improvement to tenant mix and

upgraded retailer quality

•

Create new shopping destination in

Westport with own identity and brand

on self contained 7 ½

acre site

•

Offer “main-street”

quality shopping

experience, but with greater

convenience for consumers

Appendix

•

Summary of Pro Forma Portfolio Metrics

40

9/30/14 Occupancy

In-Place Debt (9/30/14)

No. of

Centers

3Q14 Fair

Value ($000)

Value per

Property

($000)

GLA

Total

Anchor

Shop

Base

Rent PSF

Avg 3-mi

Population

Avg 3-mi

HH Income

Grocer

Sales

PSF

Balance

($000)

Interest

Rate

Years to

Maturity

CONSOLIDATED PORTFOLIO

Florida

South Florida

33

973,607

$         

29,503

$      

4,331,675

94.1%

99.6%

85.4%

16.02

$  

133,146

77,481

$   

626

$     

95,326

$   

6.33%

4.9

Jacksonville

7

130,067

$         

18,581

$      

929,403

91.0%

100.0%

72.7%

12.63

$  

42,854

87,826

$   

336

$     

-

$         

-

-

Orlando

7

118,619

$         

16,946

$      

926,265

85.4%

95.3%

74.3%

13.81

$  

78,356

77,913

$   

207

$     

-

$         

-

-

Tampa

4

86,325

$            

21,581

$      

454,761

87.3%

100.0%

70.4%

17.29

$  

45,514

96,273

$   

519

$     

15,595

$   

5.75%

1.7

Sun Coast

6

68,400

$            

11,400

$      

426,891

92.1%

100.0%

79.8%

12.43

$  

40,357

65,077

$   

756

$     

4,378

$     

6.50%

9.4

Florida Total

57

1,377,018

$      

24,158

$      

7,068,995

92.0%

99.2%

80.9%

15.17

$  

109,795

79,057

$   

609

$     

115,299

$

6.26%

4.7

California

San Francisco

6

680,946

$         

113,491

$    

1,790,587

97.1%

100.0%

90.8%

22.86

$  

214,319

98,936

$   

800

$     

73,713

$   

5.74%

1.7

Los Angeles

5

214,467

$         

42,893

$      

593,939

98.1%

100.0%

95.0%

22.38

$  

240,280

95,327

$   

513

$     

85,138

$   

5.46%

4.5

California Total

11

895,413

$         

81,401

$      

2,384,526

97.3%

100.0%

92.1%

22.74

$  

220,537

98,071

$   

619

$     

158,850

$

5.59%

3.2

New York

8

698,322

$         

87,290

$      

1,092,227

97.8%

100.0%

85.3%

39.05

$  

570,823

107,919

$ 

1,550

$  

22,877

$   

6.52%

2.5

Connecticut

8

330,067

$         

41,258

$      

983,845

96.4%

98.5%

92.1%

20.27

$  

37,399

154,164

$ 

912

$     

95,972

$   

5.72%

3.7

Georgia

9

200,871

$         

22,319

$      

983,592

93.3%

100.0%

82.8%

15.83

$  

99,107

114,596

$ 

536

$     

6,937

$     

7.94%

6.6

Maryland

1

142,131

$         

142,131

$    

466,173

97.0%

100.0%

86.2%

19.35

$  

142,569

216,130

$ 

832

$     

-

$         

-

-

Massachusetts

7

135,230

$         

19,319

$      

602,929

98.1%

100.0%

84.3%

18.71

$  

187,219

91,408

$   

348

$     

6,654

$     

8.07%

9.9

Louisiana

7

74,098

$            

10,585

$      

883,066

93.9%

93.3%

95.1%

9.90

$     

65,310

82,217

$   

218

$     

-

$         

-

-

North Carolina

3

23,200

$            

7,733

$         

436,511

95.1%

100.0%

80.9%

6.71

$     

28,591

52,509

$   

367

$     

-

$         

-

-

Pro Forma Consolidated Portfolio

111

3,876,349

$      

34,922

$      

14,901,864

94.2%

99.1%

84.6%

18.26

$  

214,278

102,244

$ 

626

$     

406,589

$

5.94%

3.9

(1) Fair value of Broadway Plaza is based on the budgeted construction cost, as it is currently in development.

(2) New York occupancy rates exclude Broadway Plaza (in development).

(3) Pro forma for dispositions completed and under contract as of 10/29/2014.  Includes development and redevelopment properties. 

       Excludes land, non-retail assets (with exception of Westwood in Bethesda, MD), and unconsolidated JV properties.   Maryland base rent is retail only.

Summary of Pro Forma Portfolio Metrics

41

(1)

(2)

(3)

Certain matters discussed by Equity One in this presentation constitute forward-looking statements within the meaning of the

federal securities laws. Forward-looking statements can be identified by the use of forward-looking terminology such as

“may,”

“will,”

“might,”

“would,”

“expect,”

“anticipate,”

“estimate,”

“could,”

“should,”

“believe,”

“intend,”

“project,”

“forecast,”

“target,”

“plan,”

or “continue”

or the negative of these words or other variations or comparable terminology. Although Equity

One believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it

can give no assurance that these expectations will be achieved and actual results could differ materially from current

expectations.  Factors that could cause actual results to differ

from expectations are described in Equity One’s filings with the

Securities and Exchange Commission.

This presentation also contains non-GAAP financial measures, including Funds from Operations, or FFO.  Reconciliations of

these non-GAAP financial measures to the most directly comparable GAAP measures can be found in Equity One’s quarterly

supplemental information package and in filings made with the SEC which are available on its website at www.equityone.net.

Forward-Looking Statements

42