Revised February 23, 2007
Exhibit 21
REGENCY CENTERS CORPORATION
Subsidiaries and Equity Ownership Thereof
Entity | Jurisdiction | Owner(s) | Nature of Interest | % of Ownership | ||||
Regency Centers Texas, LLC | Florida | Regency Centers Corporation | Member | 100% | ||||
Regency Centers, L.P. | Delaware | Regency Centers Corporation Regency Centers Texas, LLC Outside Investors | General Partner Limited Partner Limited Partners | 1.0% 96.3% 2.7% | ||||
Columbia Cameron Village SPE, LLC | Delaware | Regency Centers, L.P. Columbia Perfco Partners, L.P. | Member Member | 30% 70% | ||||
Columbia Cameron Village, LLC | Delaware | Columbia Cameron Village SPE, LLC | Member | 100% | ||||
Columbia Regency Retail Partners, LLC | Delaware | Regency Centers, L.P. Columbia Perfco Partners, L.P. | Member Member | 20% 80% | ||||
Columbia Retail Baker Hill, LLC | Delaware | Columbia Regency Retail Partners, LLC | Member | 100% | ||||
Columbia Retail Deer Grove, LLC | Delaware | Columbia Regency Retail Partners, LLC | Member | 100% | ||||
Columbia Retail Deer Grove Center, LLC | Delaware | Columbia Retail Deer Grove, LLC | Member | 100% | ||||
Columbia Retail Dulles, LLC | Delaware | Columbia Regency Retail Partners, LLC | Member | 100% | ||||
Columbia Retail Geneva Crossing, LLC | Delaware | Columbia Regency Retail Partners, LLC | Member | 100% |
Entity | Jurisdiction | Owner(s) | Nature of Interest | % of Ownership | ||||
Columbia Retail Shorewood Crossing, LLC | Delaware | Columbia Regency Retail Partners, LLC | Member | 100% | ||||
Columbia Retail Special Member (GLP), LLC | Delaware | Columbia Perfco, L.P. Regency Centers, L.P. | Member | 80% 20% | ||||
Columbia Retail Stearns Crossing, LLC | Delaware | Columbia Regency Retail Partners, LLC | Member | 100% | ||||
Columbia Retail Texas 3, LLC | Delaware | Columbia Regency Retail Partners, LLC | Member | 100% | ||||
Columbia Retail Sweetwater Plaza, LP | Delaware | Columbia Retail Texas 3, LLC Columbia Regency Retail Partners, LLC | General Partner Limited Partner | 1% 99% | ||||
Columbia Retail Washington 1, LLC | Delaware | Columbia Regency Retail Partners, LLC | Member | 100% | ||||
Columbia Cascade Plaza, LLC | Delaware | Columbia Retail Washington 1, LLC | Member | 100% | ||||
Columbia Regency Partners II, LLC | Delaware | Regency Centers, L.P. Columbia Perfco Partners, L.P. | Member Member | 20% 80% | ||||
Columbia Lorton Station Marketplace, LLC | Delaware | Columbia Regency Partners II, LLC | Member | 100% | ||||
Columbia Lorton Station Town Center, LLC | Delaware | Columbia Regency Partners II, LLC | Member | 100% | ||||
Columbia Plantation Plaza Member, LLC | Delaware | Columbia Regency Partners II, LLC | Member | 100% | ||||
Columbia Plantation Plaza, LLC | Delaware | Columbia Plantation Plaza Member, LLC | Member | 100% | ||||
Columbia Shorewood Crossing Phase 2 Member, LLC | Delaware | Columbia Regency Partners II, LLC | Member | 100% | ||||
Columbia Shorewood Crossing Phase 2, LLC | Delaware | Columbia Shorewood Crossing Phase 2 Member, LLC | Member | 100% | ||||
Columbia Speedway Plaza Member, LLC | Delaware | Columbia Regency Partners II, LLC | Member | 100% |
2
Entity | Jurisdiction | Owner(s) | Nature of Interest | % of Ownership | ||||
Columbia Speedway Plaza, LLC | Delaware | Columbia Speedway Plaza Member, LLC | Member | 100% | ||||
Columbia Sutton Square, LLC | Delaware | Columbia Regency Partners II, LLC | Member | 100% | ||||
Macquarie CountryWide-Regency, LLC | Delaware | Regency Centers, L.P. Macquarie CountryWide (US) Corporation | Member Member | 25% 75% | ||||
MCW-RC AL-Southgate, LLC | Delaware | Macquarie CountryWide-Regency, LLC | Member | 100% | ||||
MCW-RC CA-Bear Creek Village, LLC | Delaware | Macquarie CountryWide-Regency, LLC | Member | 100% | ||||
MCW-RC CA-Campus, LLC (fka MCW-RC California, LLC) | Delaware | Macquarie CountryWide-Regency, LLC | Member | 100% | ||||
MCW-RC CA-Garden Village, LLC | Delaware | Macquarie CountryWide-Regency, LLC | Member | 100% | ||||
MCW-RC CO-Cheyenne, LLC | Delaware | Macquarie CountryWide-Regency, LLC | Member | 100% | ||||
MCW-RC CO-Greeley Holding, LLC | Delaware | Macquarie CountryWide-Regency, LLC | Member | 100% | ||||
MCW-RC CO-Greeley, LLC | Delaware | MCW-RC CO-Greeley Holding, LLC | Member | 100% | ||||
MCW-RC FL-Anastasia, LLC | Delaware | Macquarie CountryWide-Regency, LLC | Member | 100% | ||||
MCW-RC FL-Highlands, LLC | Delaware | Macquarie CountryWide-Regency, LLC | Member | 100% | ||||
MCW-RC FL-King’s, LLC (fka MCW-RC Florida, LLC) | Delaware | Macquarie CountryWide-Regency, LLC | Member | 100% |
3
Entity | Jurisdiction | Owner(s) | Nature of Interest | % of Ownership | ||||
MCW-RC FL-Lynn Haven, LLC | Delaware | Macquarie CountryWide-Regency, LLC | Member | 100% | ||||
MCW-RC FL-Merchant’s Crossing Member, LLC | Delaware | Macquarie CountryWide-Regency, LLC | Member | 100% | ||||
MCW-RC FL- Merchant’s Crossing, LLC | Delaware | MCW-RC FL-Merchant’s Crossing Member, LLC | Member | 100% | ||||
MCW-RC FL-Ocala, LLC (fka MCW-RC Florida 2, LLC) | Delaware | Macquarie CountryWide-Regency, LLC | Member | 100% | ||||
MCW-RC FL-Palm Harbour, LLC | Delaware | Macquarie CountryWide-Regency, LLC | Member | 100% | ||||
MCW-RC FL-Peachland Promenade, LLC | Delaware | Macquarie CountryWide-Regency, LLC | Member | 100% | ||||
MCW-RC FL Pebblebrooke, LLC | Delaware | Macquarie CountryWide-Regency, LLC | Member | 100% | ||||
MCW-RC FL-Shoppes at 104, LLC | Delaware | Macquarie CountryWide-Regency, LLC | Member | 100% | ||||
MCW-RC GA-Bethesda Walk, LLC | Delaware | Macquarie CountryWide-Regency, LLC | Member | 100% | ||||
MCW-RC GA-Brookwood Village, LLC | Delaware | Macquarie CountryWide-Regency, LLC | Member | 100% | ||||
MCW-RC GA-Buckhead Crossing Member, LLC | Delaware | Macquarie CountryWide-Regency, LLC | Member | 100% | ||||
MCW-RC GA-Buckhead Crossing, LLC | Delaware | MCW-RC GA-Buckhead Crossing Member, LLC | Member | 100% | ||||
MCW-RC GA-Cobb Center, LLC | Delaware | Macquarie CountryWide-Regency, LLC | Member | 100% | ||||
MCW-RC GA-Coweta Crossing, LLC | Delaware | Macquarie CountryWide-Regency, LLC | Member | 100% |
4
Entity | Jurisdiction | Owner(s) | Nature of Interest | % of Ownership | ||||
MCW-RC GA-Howell Mill Village, LLC | Delaware | Macquarie CountryWide-Regency, LLC | Member | 100% | ||||
MCW-RC GA-Killian Hill, LLC | Delaware | Macquarie CountryWide-Regency, LLC | Member | 100% | ||||
MCW-RC GA-Lindbergh Crossing, LLC | Delaware | Macquarie CountryWide-Regency, LLC | Member | 100% | ||||
MCW-RC GA-Orchard, LLC | Delaware | Macquarie CountryWide-Regency, LLC | Member | 100% | ||||
MCW-RC GA-Northlake Promenade, LLC | Delaware | Macquarie CountryWide-Regency, LLC | Member | 100% | ||||
MCW-RC GA-Peachtree Parkway Plaza, LLC | Delaware | Macquarie CountryWide-Regency, LLC | Member | 100% | ||||
MCW-RC GA-Powers Ferry Kroger, LLC | Delaware | Macquarie CountryWide-Regency, LLC | Member | 100% | ||||
MCW-RC GA-Rose Creek, LLC | Delaware | Macquarie CountryWide-Regency, LLC | Member | 100% | ||||
MCW-RC GA-Roswell Holding, LLC | Delaware | Macquarie CountryWide-Regency, LLC | Member | 100% | ||||
MCW-RC GA-Roswell Crossing, LLC | Delaware | MCW-RC GA-Roswell Holding, LLC | Member | 100% | ||||
MCW-RC GA-Thomas Crossroads, LLC | Delaware | Macquarie CountryWide-Regency, LLC | Member | 100% | ||||
MCW-RC GA-Trowbridge Crossing, LLC | Delaware | Macquarie CountryWide-Regency, LLC | Member | 100% | ||||
MCW-RC GA-Woodstock Crossing, LLC | Delaware | Macquarie CountryWide-Regency, LLC | Member | 100% | ||||
MCW-RC IL-Heritage Plaza, LLC | Delaware | Macquarie CountryWide-Regency, LLC | Member | 100% |
5
Entity | Jurisdiction | Owner(s) | Nature of Interest | % of Ownership | ||||
MCW-RC IL-Heritage Plaza Phase II, LLC | Delaware | Macquarie CountryWide-Regency, LLC | Member | 100% | ||||
MCW-RC KY-Franklin, LLC | Delaware | Macquarie CountryWide-Regency, LLC | Member | 100% | ||||
MCW-RC KY-Silverlake, LLC (fka MCW-RC Kentucky, LLC) | Delaware | Macquarie CountryWide-Regency, LLC | Member | 100% | ||||
MCW-RC NC-Bent Tree, LLC | Delaware | Macquarie CountryWide-Regency, LLC | Member | 100% | ||||
MCW-RC NC-Greystone Village, LLC | Delaware | Macquarie CountryWide-Regency, LLC | Member | 100% | ||||
MCW-RC NV-Centennial Crossroads Phase I Member, LLC | Delaware | Macquarie CountryWide-Regency, LLC | Member | 100% | ||||
MCW-RC NV-Centennial Crossroads Phase I, LLC | Delaware | MCW-RC NV-Centennial Crossroads Phase I Member, LLC | Member | 100% | ||||
MCW-RC NV-Centennial Crossroads Phase II Member, LLC | Delaware | Macquarie CountryWide-Regency, LLC | Member | 100% | ||||
MCW-RC NV-Centennial Crossroads Phase II, LLC | Delaware | MCW-RC NV-Centennial Crossroads Phase II Member, LLC | Member | 100% | ||||
MCW-RC OR-Cherry Park, LLC | Delaware | Macquarie CountryWide-Regency, LLC | Member | 100% | ||||
MCW-RC OR-Hillsboro, LLC | Delaware | Macquarie CountryWide-Regency, LLC | Member | 100% | ||||
MCW-RC SC-Fairview Market, LLC | Delaware | Macquarie CountryWide-Regency, LLC | Member | 100% | ||||
MCW-RC SC-Merchant’s, LLC (fka MCW-RC South Carolina, LLC) | Delaware | Macquarie CountryWide-Regency, LLC | Member | 100% | ||||
MCW-RC SC-North Pointe, LLC | Delaware | Macquarie CountryWide-Regency, LLC | Member | 100% | ||||
MCW-RC SC-Poplar Springs, LLC | Delaware | Macquarie CountryWide-Regency, LLC | Member | 100% |
6
Entity | Jurisdiction | Owner(s) | Nature of Interest | % of Ownership | ||||
MCW-RC SC-Poplar Springs Land, LLC | Delaware | Macquarie CountryWide-Regency, LLC | Member | 100% | ||||
MCW-RC SC-Rosewood, LLC | Delaware | Macquarie CountryWide-Regency, LLC | Member | 100% | ||||
MCW-RC Texas GP, LLC | Delaware | Macquarie CountryWide-Regency, LLC | Member | 100% | ||||
MCW-RC TX-Hebron, LLC (fka MCW-RC Texas, L.P.) | Delaware | MCW-RC Texas GP, LLC Macquarie CountryWide-Regency, LLC | General Partner Limited Partner | .01% 99.99% | ||||
MCW-RC VA-Brookville, LLC (fka MCW-RC Virginia, LLC) | Delaware | Macquarie CountryWide-Regency, LLC | Member | 100% | ||||
MCW-RC VA-Somerset Crossing, LLC | Delaware | Macquarie CountryWide-Regency, LLC | Member | 100% | ||||
MCW-RC WA-James, LLC (fka MCW-RC Washington, LLC) | Delaware | Macquarie CountryWide-Regency, LLC | Member | 100% | ||||
Macquarie CountryWide Regency II, LLC | Delaware | Macquarie CountryWide (US) No. 2 LLC Macquarie-Regency Management, LLC Regency Centers, L.P. | Member Member Member | 75.00% .01% 24.99% | ||||
U.S. Retail Partners Holding, LLC | Delaware | Macquarie CountryWide Regency II, LLC | Member | 100% | ||||
FW CA-Brea Marketplace Member, LLC | Delaware | Macquarie CountryWide Regency II, LLC | Member | 100% | ||||
FW CA-Brea Marketplace, LLC | Delaware | FW CA-Brea Marketplace Member, LLC | Member | 100% |
7
Entity | Jurisdiction | Owner(s) | Nature of Interest | % of Ownership | ||||
FW Lake Forest Holding, LLC | Delaware | Macquarie CountryWide Regency II, LLC | Member | 100% | ||||
FW CA-Lake Forest Village, LLC | Delaware | FW Lake Forest Holding, LLC | Member | 100% | ||||
U.S. Retail Partners Member, LLC | Delaware | Macquarie CountryWide Regency II, LLC | Member | 100% | ||||
U.S. Retail Partners, LLC | Delaware | U.S. Retail Partners Holding, LLC U.S. Retail Partners Member, LLC | Member Member | 1% 99% | ||||
USRP I Holding, LLC | Delaware | Macquarie CountryWide Regency II, LLC | Member | 100% | ||||
USRP I Member, LLC | Delaware | Macquarie CountryWide Regency II, LLC | Member | 100% | ||||
USRP I, LLC | Delaware | USRP I Holding, LLC USRP I Member, LLC | Member Member | 1% 99% | ||||
FW MCW-Reg II Holdings, LLC | Delaware | Macquarie CountryWide Regency II, LLC | Member | 100% | ||||
FW CA-Auburn Village, LLC | Delaware | FW MCW-Reg II Holdings, LLC | Member | 100% | ||||
FW CA-Bay Hill Shopping Center, LLC | Delaware | FW MCW-Reg II Holdings, LLC | Member | 100% | ||||
FW CA-Five Points Shopping Center, LLC | Delaware | FW MCW-Reg II Holdings, LLC | Member | 100% | ||||
FW CA-Mariposa Gardens Shopping Center, LLC | Delaware | FW MCW-Reg II Holdings, LLC | Member | 100% | ||||
FW CA-Navajo Shopping Center, LLC | Delaware | FW MCW-Reg II Holdings, LLC | Member | 100% |
8
Entity | Jurisdiction | Owner(s) | Nature of Interest | % of Ownership | ||||
FW CA-Point Loma Plaza, LLC | Delaware | FW MCW-Reg II Holdings, LLC | Member | 100% | ||||
FW CA-Rancho San Diego Village, LLC | Delaware | FW MCW-Reg II Holdings, LLC | Member | 100% | ||||
FW CA-Silverado Plaza, LLC | Delaware | FW MCW-Reg II Holdings, LLC | Member | 100% | ||||
FW CA-Snell & Branham Plaza, LLC | Delaware | FW MCW-Reg II Holdings, LLC | Member | 100% | ||||
FW CA-Stanford Ranch Village, LLC | Delaware | FW MCW-Reg II Holdings, LLC | Member | 100% | ||||
FW CA-Twin Oaks Shopping Center, LLC | Delaware | FW MCW-Reg II Holdings, LLC | Member | 100% | ||||
FW CA-Ygnacio Plaza, LLC | Delaware | FW MCW-Reg II Holdings, LLC | Member | 100% | ||||
FW CT-Corbins Corner Shopping Center, LLC | Delaware | FW MCW-Reg II Holdings, LLC | Member | 100% | ||||
FW DC-Spring Valley Shopping Center, LLC | Delaware | FW MCW-Reg II Holdings, LLC | Member | 100% | ||||
FW The Oaks Holding, LLC | Delaware | Macquarie CountryWide Regency II, LLC | Member | 100% | ||||
FW IL-The Oaks Shopping Center, LLC | Delaware | FW The Oaks Holding, LLC | Member | 100% | ||||
FW IL-Brentwood Commons, LLC | Delaware | FW MCW-Reg II Holdings, LLC | Member | 100% | ||||
FW IL-Mallard Creek, LLC | Delaware | FW MCW-Reg II Holdings, LLC | Member | 100% | ||||
FW IL-Riverside/Rivers Edge, LLC | Delaware | FW MCW-Reg II Holdings, LLC | Member | 100% | ||||
FW IL-Riverview Plaza, LLC | Delaware | FW MCW-Reg II Holdings, LLC | Member | 100% | ||||
FW IL-Stonebrook Plaza, LLC | Delaware | FW MCW-Reg II Holdings, LLC | Member | 100% | ||||
USRP Willow East, LLC | Delaware | FW MCW-Reg II Holdings, LLC | Member | 100% | ||||
USRP Willow West, LLC | Delaware | FW MCW-Reg II Holdings, LLC | Member | 100% | ||||
Parkville Shopping Center, LLC | Maryland | FW MCW-Reg II Holdings, LLC | Member | 100% | ||||
FW MD-Clinton Square, LLC | Delaware | FW MCW-Reg II Holdings, LLC | Member | 100% | ||||
FW MD-Rosecroft Shopping Center, LLC | Delaware | FW MCW-Reg II Holdings, LLC | Member | 100% | ||||
FW MCW-Reg II Holding Company Two, LLC | Delaware | Macquarie CountryWide-Regency II, LLC | Member | 100% |
9
Entity | Jurisdiction | Owner(s) | Nature of Interest | % of Ownership | ||||
FW CA-Granada Village, LLC | Delaware | FW MCW-Reg II Holding Company Two, LLC | ||||||
FW CA-Laguna Niguel Plaza, LLC | Delaware | FW MCW-Reg II Holding Company Two, LLC | ||||||
FW CA-Pleasant Hill Shopping Center, LLC | Delaware | FW MCW-Reg II Holding Company Two, LLC | ||||||
FW Newark, LLC | Delaware | FW MCW-Reg II Holding Company Two, LLC | ||||||
FW IL-Civic Center Plaza, LLC | Delaware | FW MCW-Reg II Holding Company Two, LLC | ||||||
FW IL-McHenry Commons Shopping Center, LLC | Delaware | FW MCW-Reg II Holding Company Two, LLC | ||||||
FW NJ-Westmont Shopping Center, LLC | Delaware | FW MCW-Reg II Holding Company Two, LLC | ||||||
FW NC-Shoppes of Kildaire, LLC | Delaware | FW MCW-Reg II Holding Company Two, LLC | ||||||
FW OR-Greenway Town Center, LLC | Delaware | FW MCW-Reg II Holding Company Two, LLC | ||||||
USRP Towamencin, LLC | Delaware | FW MCW-Reg II Holding Company Two, LLC | ||||||
FW VA-Brafferton Shopping Center, LLC | Delaware | FW MCW-Reg II Holding Company Two, LLC | ||||||
FW WI Racine Centre, LLC | Delaware | FW MCW-Reg II Holding Company Two, LLC | ||||||
USRP LP, LLC | Delaware | Macquarie CountryWide Regency II, LLC | Member | 100% | ||||
USRP GP, LLC | Delaware | Macquarie CountryWide Regency II, LLC | Member | 100% | ||||
US Retail Partners Limited Partnership | Delaware | USRP GP, LLC USRP LP, LLC Preferred Partners | General Partner Limited Partner Limited Partners | 1% 99% profit sharing |
10
Entity | Jurisdiction | Owner(s) | Nature of Interest | % of Ownership | ||||
Enterprise Associates | Maryland | USRP GP, LLC US Retail Partners Limited Partnership | General Partner General Partner | |||||
FW Bowie Plaza GP, LLC | Delaware | Macquarie CountryWide Regency II, LLC | Member | 100% | ||||
Capitol Place I Investment Limited Partnership | Maryland | FW Bowie Plaza GP, LLC Eastern Shopping Centers I, LLC | General Partner Limited Partner | 1% 99% | ||||
FW Elkridge Corners GP, LLC | Delaware | Macquarie CountryWide Regency II, LLC | Member | 100% | ||||
L and M Development Company Limited Partnership | Maryland | FW Elkridge Corners GP, LLC Eastern Shopping Centers I, LLC | General Partner Limited Partner | 1% 99% | ||||
FW Woodholm GP, LLC | Delaware | Macquarie CountryWide Regency II, LLC | Member | 100% | ||||
Woodholme Properties Limited Partnership | Maryland | FW Woodholm GP, LLC Eastern Shopping Centers I, LLC | General Partner Limited Partner | 1% 99% | ||||
FW Penn Station GP, LLC | Delaware | Macquarie CountryWide Regency II, LLC | Member | 100% | ||||
SP Associates Limited Partnership | Maryland | FW Penn Station GP, LLC Eastern Shopping Centers I, LLC | General Partner Limited Partner | 1% 99% | ||||
FW Southside Marketplace GP, LLC | Delaware | Macquarie CountryWide Regency II, LLC | Member | 100% | ||||
Southside Marketplace Limited Partnership | Maryland | FW Southside Marketplace GP, LLC Eastern Shopping Centers I, LLC | General Partner Limited Partner | 1% 99% |
11
Entity | Jurisdiction | Owner(s) | Nature of Interest | % of Ownership | ||||
FW Valley Centre GP, LLC | Delaware | Macquarie CountryWide Regency II, LLC | Member | 100% | ||||
Greenspring Associates Limited Partnership | Maryland | FW Valley Centre GP, LLC Eastern Shopping Centers I, LLC | General Partner Limited Partner | 1% 99% | ||||
FW Northway GP, LLC | Delaware | Macquarie CountryWide Regency II, LLC | Member | 100% | ||||
Northway Limited Partnership | Maryland | FW Northway GP, LLC Eastern Shopping Centers I, LLC | General Partner Limited Partner | 1% 99% | ||||
Eastern Shopping Centers I, LLC | Delaware | Macquarie CountryWide Regency II, LLC | Member | 100% | ||||
Cloppers Mill Village Center, LLC | Maryland | FW MCW-Reg II Holdings, LLC Eastern Shopping Centers I, LLC | Member | 100% | ||||
City Line Shopping Center Associates | Pennsylvania | US Retail Partners Limited Partnership City Line LP, LLC | General Partner Limited Partner | 1% 99% | ||||
City Line LP, LLC | Delaware | USRP LP, LLC | Member | 100% | ||||
FW Allenbeth GP, LLC | Delaware | Macquarie CountryWide Regency II, LLC | Member | 100% | ||||
Allenbeth Associates Limited Partnership | Maryland | FW Allenbeth GP, LLC Eastern Shopping Centers I, LLC | General Partner Limited Partner | 1% 99% | ||||
USRP Towamencin Land, LLC | Delaware | Macquarie CountryWide Regency II, LLC | Member | 100% |
12
Entity | Jurisdiction | Owner(s) | Nature of Interest | % of Ownership | ||||
FW First Colony GP, LLC | Delaware | Macquarie CountryWide Regency II, LLC | Member | 100% | ||||
FW TX-First Colony Marketplace, L.P. | Delaware | FW First Colony GP, LLC U.S. Retail Partners Holding, LLC | General Partner Limited Partner | 1% 99% | ||||
FW Memorial GP, LLC | Delaware | Macquarie CountryWide Regency II, LLC | Member | 100% | ||||
FW TX-Memorial Collection, L.P. | Delaware | FW Memorial GP, LLC U.S. Retail Partners Holding, LLC | General Partner Limited Partner | 1% 99% | ||||
FW Weslyan GP, LLC | Delaware | Macquarie CountryWide Regency II, LLC U.S. Retail Partners Holding, LLC | Member | 100% | ||||
FW TX-Weslyan Plaza, L.P. | Delaware | FW Weslyan GP, LLC | General Partner Limited Partner | 1% 99% | ||||
FW Westheimer GP, LLC | Delaware | Macquarie CountryWide Regency II, LLC | Member | 100% | ||||
FW TX-Westheimer Marketplace, L.P. | Delaware | FW Westheimer GP, LLC U.S. Retail Partners Holding, LLC | General Partner Limited Partner | 1% 99% | ||||
FW Woodway GP, LLC | Delaware | Macquarie CountryWide Regency II, LLC | Member | 100% | ||||
FW TX-Woodway Collection, L.P. | Delaware | FW Woodway GP, LLC U.S. Retail Partners Holding, LLC | General Partner Limited Partner | 1% 99% |
13
Entity | Jurisdiction | Owner(s) | Nature of Interest | % of Ownership | ||||
FW VA-601 Kings Street, LLC | Delaware | FW MCW-Reg II Holdings, LLC | Member | 100% | ||||
FW VA-Ashburn Farm Village Center, LLC | Delaware | FW MCW-Reg II Holdings, LLC | Member | 100% | ||||
FW VA-Centre Ridge Marketplace, LLC | Delaware | FW MCW-Reg II Holdings, LLC | Member | 100% | ||||
FW VA-Fox Mill Shopping Center, LLC | Delaware | FW MCW-Reg II Holdings, LLC | Member | 100% | ||||
FW VA-Greenbriar Pad, LLC | Delaware | Macquarie CountryWide II, LLC | Member | 100% | ||||
FW VA-Kings Park Shopping Center, LLC | Delaware | FW MCW-Reg II Holdings, LLC | Member | 100% | ||||
FW VA-Laburnum Square, LLC | Delaware | FW MCW-Reg II Holdings, LLC | Member | 100% | ||||
FW VA-Saratoga Shopping Center, LLC | Delaware | FW MCW-Reg II Holdings, LLC | Member | 100% | ||||
FW VA-The Village Shopping Center, LLC | Delaware | FW MCW-Reg II Holdings, LLC | Member | 100% | ||||
FW Gayton Holding, LLC | Delaware | Macquarie CountryWide Regency II, LLC | Member | 100% | ||||
FW VA-Gayton Crossing Shopping Center, LLC | Delaware | FW Gayton Holding, LLC | Member | 100% | ||||
FW WA-Aurora Marketplace, LLC | Delaware | FW MCW-Reg II Holdings, LLC | Member | 100% | ||||
FW WA-Eastgate Plaza, LLC | Delaware | FW MCW-Reg II Holdings, LLC | Member | 100% | ||||
FW WA-Overlake Fashion Plaza, LLC | Delaware | FW MCW-Reg II Holdings, LLC | Member | 100% | ||||
FW WI-Cudahy Center, LLC | Delaware | FW MCW-Reg II Holdings, LLC | Member | 100% | ||||
FW WI-Whitnall Square, LLC | Delaware | FW MCW-Reg II Holdings, LLC | Member | 100% | ||||
Macquarie CountryWide-Regency III, LLC | Delaware | Macquarie CountryWide (US) No. 2 LLC Macquarie-Regency Management, LLC Regency Centers, L.P. | Member Member Member | 75.00% .01% 24.99% | ||||
MCW RC III Hilltop Village Member, LLC | Delaware | Macquarie CountryWide-Regency III, LLC | Member | 100% |
14
Entity | Jurisdiction | Owner(s) | Nature of Interest | % of Ownership | ||||
MCW RC III Hilltop Village, LLC | Delaware | MCW RC III Hilltop Village Member, LLC | Member | 100% | ||||
MCW-RC III Kleinwood GP, LLC | Delaware | Macquarie CountryWide-Regency III, LLC | Member | 100% | ||||
MCW-RC III Kleinwood Center, LP | Delaware | MCW-RC III Kleinwood GP, LLC Macquarie CountryWide-Regency III, LLC | General Partner Limited Partner | .05% 99.95% | ||||
MCW-RC III Murray Landing Member, LLC | Delaware | Macquarie CountryWide-Regency III, LLC | Member | 100% | ||||
MCW-RC III Murray Landing, LLC | Delaware | MCW-RC III Murray Landing Member, LLC | Member | 100% | ||||
MCW-RC III Vineyard Member, LLC | Delaware | Macquarie CountryWide-Regency III, LLC | Member | 100% | ||||
MCW-RC III Vineyard Shopping Center, LLC | Delaware | MCW RC III Vineyard Member, LLC | Member | 100% | ||||
MCW/MDP-Regency, LLC | Delaware | Regency Centers, L.P. MCW/MDP, LLC | Member Member | 25% 75% | ||||
MCD-RC CA-Amerige, LLC | Delaware | MCW/MDP-Regency, LLC | Member | 100% | ||||
MCD-RC El Cerrito Holdings, LLC | Delaware | MCW/MDP-Regency, LLC | Member | 100% | ||||
MCD-RC CA-El Cerrito, LLC | Delaware | MCD-RC El Cerrito Holdings, LLC | Member | 100% | ||||
MCD-RC OH-Milford, LLC | Delaware | MCW/MDP-Regency, LLC | Member | 100% | ||||
RegCal, LLC | Delaware | California State Teachers Retirement System Regency Centers, L.P. | Member Member | 75% 25% |
15
Entity | Jurisdiction | Owner(s) | Nature of Interest | % of Ownership | ||||
RegCal Holding, LLC | Delaware | RegCal, LLC | Member | 100% | ||||
CAR Apple Valley Square Member, LLC | Delaware | RegCal, LLC | Member | 100% | ||||
CAR Apple Valley Square, LLC | Delaware | CAR Apple Valley Square Member, LLC | Member | 100% | ||||
CAR Apple Valley Lane, LLC | Delaware | RegCal, LLC | ||||||
CAR Braemar Village, LLC | Delaware | RegCal, LLC | Member | 100% | ||||
CAR Corral Hollow, LLC | Delaware | RegCal Holding, LLC | Member | 100% | ||||
CAR Five Corners Plaza, LLC | Delaware | Five Corners Plaza Member, LLC | Member | 100% | ||||
Five Corners Plaza Member, LLC | Delaware | RegCal, LLC | Member | 100% | ||||
CAR Fuquay Holding, LLC | Delaware | RegCal, LLC | Member | 100% | ||||
CAR Fuquay Crossing, LLC | Delaware | CAR Fuquay Holding, LLC | Member | 100% | ||||
CAR Fuquay Property, LLC | Delaware | RegCal, LLC | Member | 100% | ||||
CAR Jetton Village, LLC | Delaware | Jetton Village Member, LLC | Member | 100% | ||||
Jetton Village Member, LLC | Delaware | RegCal, LLC | Member | 100% | ||||
CAR Shops at the Columbia, LLC | Delaware | RegCal, LLC | Member | 100% | ||||
KF-BRE, LLC | Delaware | RegCal, LLC | Member | 100% | ||||
KF-REG Holding, LLC | Delaware | RegCal, LLC | Member | 100% |
16
Entity | Jurisdiction | Owner(s) | Nature of Interest | % of Ownership | ||||
KF-REG Associates, LLC | Delaware | KF-REG Holding, LLC | Member | 100% | ||||
King Farm Center, LLC | Delaware | KF-REG Associates, LLC | Member | 100% | ||||
Regency Retail GP, LLC | Delaware | Regency Centers, L.P. | Member | 100% | ||||
Regency Retail Partners, LP | Delaware | Regency Retail GP, LLC Investors | General Partner Limited Partner | 49.7% 50.3% | ||||
RRP Parent REIT, Inc. | Maryland | Regency Retail Partners, LP | Common Stock | 100% | ||||
RRP GIC Feeder, LP | Delaware | Regency Retail GP, LLC Investors | General Partner Limited Partner | .007% 99.993% | ||||
RRP Subsidiary REIT, LP | Delaware | Regency Retail GP, LLC Regency Retail Partners, LP RRP Parent REIT, Inc, RRP GIC Feeder, LP | General Partner Limited Partner Limited Partner Limited Partner | 0.0% .003% 53.922% 46.075% | ||||
RRP Operating, LP | Delaware | Regency Retail GP, LLC RRP Subsidiary REIT, LP
RRP Parent REIT, Inc. | General Partner Common LP Preferred LP Preferred LP | .003% 99.204% .397% .397% | ||||
RRP Falcon Ridge GP, LLC | Delaware | RRP Operating, LP | Member | 100% | ||||
RRP Falcon Ridge Town Center, LP | Delaware | RRP Falcon Ridge GP, LLC RRP Operating, LP | General Partner Limited Partner | .5% 99.5% | ||||
RRP Indian Springs GP, LLC | Delaware | RRP Operating, LP | Member | 100% | ||||
RRP Indian Springs, LP | Delaware | RRP Indian Springs GP, LLC RRP Operating, LP | General Partner Limited Partner | .5% 99.5% | ||||
RRP Vista Village Phase I GP, LLC | Delaware | RRP Operating, LP | Member | 100% |
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Entity | Jurisdiction | Owner(s) | Nature of Interest | % of Ownership | ||||
RRP Vista Village Phase I, LP | Delaware | RRP Vista Village Phase I GP, LLC RRP Operating, LP | General Partner Limited Partner | .5% 99.5% | ||||
RRP Vista Village Phase II GP, LLC | Delaware | RRP Operating, LP | Member | 100% | ||||
RRP Vista Village Phase II, LP | Delaware | RRP Vista Village Phase II GP, LLC RRP Operating, LP | General Partner Limited Partner | .5% 99.5% | ||||
Bammel North Houston Center, Ltd. | Texas | Regency Centers, L.P. HEB Grocery Company, LP | General Partner Limited Partner | Varies | ||||
Bartram Park Center, LLC | Delaware | Regency Centers, L.P. Real Sub, LLC | Member Member | Varies | ||||
Belleview Square, LLC | Delaware | Regency Centers, L.P. | Member | 100% | ||||
Clayton Valley Shopping Center, LLC | Delaware | Regency Centers, L.P. | Member | 100% | ||||
Gateway Azco GP, LLC | Delaware | Regency Centers, L.P. | Member | 100% | ||||
Gateway Azco LP, LLC | Delaware | Regency Centers, L.P. | Member | 100% | ||||
AZCO Partners | Pennsylvania | Gateway Azco Partners GP, LLC Gateway Azco LP, LLC | General Partner Limited Partner | 1% 99% | ||||
Gateway Azco Manager, LLC | Delaware | Regency Centers, L.P. | Member | 100% | ||||
Indian Springs GP, LLC | Delaware | Regency Woodlands/Kuykendahl Retail, Ltd. | Member | 100% | ||||
Indian Springs at Woodlands, Ltd. | Texas | Indian Springs GP, LLC Regency Woodlands/Kuykendahl Retail, Ltd. | General Partner Limited Partner | 0.1% 99.9% | ||||
Langston Center, LLC | Delaware | Regency Centers, L.P. | Member | 100% | ||||
NSHE Winnebago, LLC | Arizona | Regency Centers, L.P. | Member | 100% | ||||
Northlake Village Shopping Center, LLC | Florida | Regency Centers, L.P. | Member | 100% | ||||
Queensboro Associates, L.P. | Georgia | Regency Centers, L.P. Real Sub, LLC | General Partner Limited Partner | 50% 50% |
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Entity | Jurisdiction | Owner(s) | Nature of Interest | % of Ownership | ||||
Regency Centers Advisors, LLC | Florida | Regency Centers, L.P. | Member | 100% | ||||
RC CA Santa Barbara, LLC | Delaware | Regency Centers, L.P. | Member | 100% | ||||
RC Georgia Holdings, LLC | Georgia | Regency Centers, L.P. | Member | 100% | ||||
Regency Centers Georgia, L.P. | Georgia | RC Georgia Holdings, LLC Regency Centers, L.P. | General Partner Limited Partner | 1% 99% | ||||
Regency Opitz, LLC | Delaware | Regency Centers, L.P. | Member | 100% | ||||
Regency Remediation, LLC | Florida | Regency Centers, L.P. | Member | 100% | ||||
Regency Tall Oaks Village Center, LLC | Delaware | Regency Centers, L.P. | Member | 100% | ||||
Regency Woodlands/Kuykendahl Retail, Ltd. | Texas | Regency Centers, L.P. HEB Grocery Company, LP | General Partner Limited Partner | 50% 50% | ||||
Shops at Saugus, LLC | Delaware | Regency Centers, L.P. John H. Donegan | Member Member | Interests Vary | ||||
T&M Shiloh Development Company | Texas | Regency Centers, L.P. | General Partner | 100% | ||||
T&R New Albany Development Company, LLC | Ohio | Regency Centers, L.P. Topvalco | Member Member | 50% 50% | ||||
Twin City Plaza Member, LLC | Delaware | Regency Centers, L.P. | Member | 100% | ||||
Twin City Plaza, LLC | Delaware | Twin City Plaza Member, LLC | Member | 100% | ||||
Vista Village, LLC | Delaware | Regency Realty Group, Inc. Civic Partners Vista Village I, LLC | Member Member | 50% 50% | ||||
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Entity | Jurisdiction | Owner(s) | Nature of Interest | % of Ownership | ||||
RRG Holdings, LLC | Florida | Regency Centers, L.P. | Member | 100% | ||||
Regency Realty Group, Inc. | Florida | Regency Centers, L.P. RRG Holdings, LLC | Preferred Stock Common Stock Common Stock | 100% 7% 93% | ||||
1488-2978 SC GP, LLC | Delaware | Regency Realty Group, Inc. | Member | 100% | ||||
1488-2978 SC, L.P. | Texas | 1488-2978 SC GP, LLC Regency Realty Group, Inc. | General Partner Limited Partner | 1% 99% | ||||
4S Regency Partners, LLC | Delaware | Regency Realty Group, Inc. | Member | 100% | ||||
Alameda Bridgeside Shopping Center, LLC | Delaware | Regency Realty Group, Inc. | Member | 100% | ||||
Amherst Street Shopping Center, LLC | Delaware | Regency Realty Group J. Donagan | Member Member | Interests Vary | ||||
Applegate Ranch, LLC | Delaware | Regency Realty Group, Inc. | Member | 100% | ||||
Bammel Center, LLC | Delaware | Regency Realty Group, Inc. | Member | 100% | ||||
Bordeaux Development, LLC | Florida | Regency Realty Group, Inc. | Member | 100% | ||||
Buckwalter-Bluffton, LLC | Delaware | Regency Realty Group, Inc. | Member | 100% | ||||
Castaic Vine, LLC | Delaware | Regency Realty Group, Inc. | Member | 100% | ||||
Cathedral City Rio Vista Town Centre, LLC | Delaware | Regency Realty Group, Inc. | Member | 100% |
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Entity | Jurisdiction | Owner(s) | Nature of interest | %of Ownership | ||||
Chestnut Powder, LLC | Georgia | Regency Realty Group, Inc. | Member | 100% | ||||
Clarksburg Retail Partners, LLC | Delaware | Regency Realty Group, Inc. | Member | 100% | ||||
Corvallis Market Center, LLC | Delaware | Regency Centers, L.P. | Member | 100% | ||||
Culpeper Regency, LLC | Delaware | Regency Realty Group, Inc. | Member | 100% | ||||
Deer Springs Town Center, LLC | Delaware | Regency Realty Group, Inc. | Member | 100% | ||||
Dixon, LLC | Florida | Regency Realty Group, Inc. | Member | 100% | ||||
East Towne Center, LLC | Delaware | Regency Realty Group, Inc. Lake McLeod, LLC | Member Member | Interests Vary | ||||
Edmunson Orange Corp. | Tennessee | Regency Realty Group, Inc. | Common Stock | 100% | ||||
Fort Collins Center, LLC | Delaware | Regency Realty Group, Inc. | Member | 100% | ||||
Fortuna Regency, LLC | Delaware | Regency Realty Group, Inc. | Member | 100% | ||||
FV Commons, LLC | Delaware | Regency Realty Group, Inc. | Member | 100% | ||||
Harding Place, LLC | Delaware | Regency Realty Group, Inc. RFM Harding, LLC | Member Member | 50% 50% | ||||
Tennessee-Florida Investors, LLC | Delaware | Harding Place, LLC | Member | 100% | ||||
Hasley Canyon Village, LLC | Delaware | Regency Realty Group, Inc. Community Company, LLC | Member Member | 50% 50% |
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Entity | Jurisdiction | Owner(s) | Nature of Interest | % of Ownership | ||||
Hermitage Development II, LLC | Florida | Regency Realty Group, Inc. | Member | 100% | ||||
Hibernia North, LLC | Delaware | Regency Realty Group, Inc. | Member | 100% | ||||
Hickory Creek Plaza, LLC | Delaware | Regency Realty Group, Inc. | Member | 100% | ||||
Hoadly Regency, LLC | Delaware | Regency Realty Group, Inc. John H. Donegan | Member Member | Interests Vary | ||||
Hollymead Town Center, LLC | Delaware | Regency Realty Group, Inc. DRG-Charlottesville Developers, LLC | Member Member | 50% 50% | ||||
Indio Jackson, LLC | Delaware | Regency Realty Group, Inc. | Member | 100% | ||||
Jog Road, LLC | Florida | Regency Realty Group, Inc. Bentz Capital Group, LLC | Member Member | 50% 50% | ||||
Southland Centers II, LLC | Florida | Jog Road, LLC | Member | 100% | ||||
K&G/Regency II, LLC | Delaware | Regency Realty Group, Inc. K&G Equities VII, LLC | Member | 50% 50% | ||||
Kulpsville Village Center LP, LLC | Delaware | Regency Realty Group, Inc. | Member | 100% | ||||
Kulpsville Village Center, LP | Delaware | Kulpsville Village Center LP, LLC Regency Realty Group, Inc. | General Partner Limited Partner | .5% 99.5% | ||||
Lee Regency, LLC | Delaware | Regency Realty Group, Inc. | Member | 100% | ||||
Lonestar Retail, LLC | Delaware | Regency Realty Group, Inc. | Member | 100% | ||||
Longmont Center, LLC | Delaware | Regency Realty Group, Inc. | Member | 100% |
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Entity | Jurisdiction | Owner(s) | Nature of Interest | % of Ownership | ||||
Loveland Shopping Center, LLC | Delaware | Regency Realty Group, Inc. | Member | 100% | ||||
Luther Properties, Inc. | Tennessee | Regency Realty Group, Inc. | Common Stock | 100% | ||||
Marietta Outparcel, Inc. | Georgia | Regency Realty Group, Inc. | Common Stock | 100% | ||||
The Marketplace at Briargate, LLC | Delaware | Regency Realty Group, Inc. | Member | 100% | ||||
Menifee Marketplace, LLC | Delaware | Regency Realty Group, Inc. | Member | 100% | ||||
Merrimack Office Properties, LLC | Delaware | Regency Realty Group, Inc. JDC Merrimack, LLC | Member Member | 25% 50% | ||||
Merrimack Shopping Center, LLC | Delaware | Regency Realty Group, Inc. | Member | 100% | ||||
Middle Creek Commons, LLC | Delaware | Regency Realty Group, Inc. | Member | 100% | ||||
Middle Tennessee Development, LLC | Delaware | Regency Realty Group, Inc. | Member | 100% | ||||
Mitchell Service, LLC | Delaware | Regency Realty Group, Inc. | Member | 100% | ||||
Mountain Meadow, LLC | Delaware | Regency Realty Group, Inc. | Member | 100% | ||||
Murieta Gardens Shopping Center, LLC | Delaware | Regency Realty Group, Inc. | Member | 100% | ||||
New Smyrna Regency, LLC | Delaware | Regency Realty Group, Inc. | Member | 100% | ||||
New Windsor Marketplace, LLC | Delaware | Regency Realty Group, Inc. | Member | 100% | ||||
Ocala Retail Partners, LLC | Delaware | Regency Realty Group, Inc. | Member | 100% |
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Entity | Jurisdiction | Owner(s) | Nature of Interest | % of Ownership | ||||
Otay Mesa Crossing, LLC | Delaware | Regency Realty Group, Inc. | Member | 100% | ||||
Paso Golden Hill, LLC | Delaware | Regency Realty Group, Inc. | Member | 100% | ||||
R2 Media, LLC | Florida | Regency Realty Group, Inc. | Member | 100% | ||||
RB Airport Crossing, LLC | Delaware | Regency Realty Group, Inc. | Member | 100% | ||||
RB Augusta, LLC | Delaware | Regency Realty Group, Inc. | Member | 100% | ||||
RRG Net, LLC | Florida | Regency Realty Group, Inc. | Member | 100% | ||||
Red Bank Village, LLC | Delaware | Regency Realty Group, Inc. | Member | 100% | ||||
Regency Afton Willow-Paso Robles, LLC | Delaware | Regency Realty Group, Inc. Afton Willow-Paso Robles, LLC | Member Member | Interests vary | ||||
Regency-Alliance Santa Rosa, LLC | Delaware | Regency Realty Group, Inc. | Member | 100% | ||||
Regency Bayside Business Park, LLC | Delaware | Regency Realty Group, Inc. | Member | 100% | ||||
Regency Blue Ash, LLC | Delaware | Regency Realty Group, Inc. | Member | 100% | ||||
Regency Cahan-Clovis, LLC | Delaware | Regency Realty Group, Inc. Cahan Properties, Inc. | Member Member | 50% 50% | ||||
Regency I-45/Spring Cypress Retail, L.P. | Delaware | Regency Realty Group, Inc. HEB Grocery Company, L.P. | General Partner Limited Partner | Interests Vary | ||||
Regency Magi, LLC | Delaware | Regency Realty Group, Inc. Magi, LLC | Member Member | Interests Vary |
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Entity | Jurisdiction | Owner(s) | Nature of Interest | % of Ownership | ||||
Regency Marinita-LaQuinta, LLC | Delaware | Regency Realty Group, Inc. Marinita Development Co. | Member Member | Interests Vary | ||||
Regency Petaluma, LLC | Delaware | Regency Realty Group, Inc. | Member | 100% | ||||
Regency/PGM-Burkitt, LLC | Delaware | Regency Realty Group, Inc. PGM-Burkitt, LLC | Member Member | Interests Vary | ||||
Regency Realty Colorado, Inc. | Florida | Regency Realty Group, Inc Snowden Leftwich (see Note 1) | Common Stock Common Stock | 80% 20% | ||||
Regency Realty Group-NE, Inc. | Florida | Regency Realty Group, Inc. | Common Stock | 100% | ||||
RB Schererville Crossings, LLC | Delaware | Regency Realty Group, Inc. | Member | 100% | ||||
SS Harbour GP, LLC | Delaware | Regency Realty Group, Inc. | Member | 100% | ||||
SS Harbour, L.P. | Texas | SS Harbour GP, LLC Regency Realty Group, Inc. | General Partner Limited Partner | 1% 99% | ||||
Shops at Highland Village GP, LLC | Delaware | Regency Realty Group, Inc. | Member | 100% | ||||
Shops at Highland Village Development, Ltd. | Texas | Shops at Highland Village GP, LLC Regency Realty Group, Inc. | General Partner Limited Partner | 1% 99% | ||||
Signal Hill Two, LLC | Delaware | Regency Realty Group, Inc. John H. Donegan | Member Member | Interests Vary | ||||
Signature Plaza, LLC | Delaware | Regency Realty Group, Inc. | Member | 100% | ||||
Silver Spring Square II, L.P. | Delaware | Silver Spring GP, Inc. TCH Realty & Development Co., LLC | General Partner Limited Partner | Interests Vary |
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Entity | Jurisdiction | Owner(s) | Nature of Interest | % of Ownership | ||||
Slausen Central, LLC | Delaware | Regency Realty Group, Inc. | Member | 100% | ||||
Spring Hill Town Center, LLC | Delaware | Regency Realty Group, Inc. | Member | 100% | ||||
Stanley Bernal, LLC | Delaware | Regency Realty Group, Inc. | Member | 100% | ||||
State Street Crossing, LLC | Delaware | Regency Realty Group, Inc. | Member | 100% | ||||
Stonewall Regency, LLC | Delaware | Regency Realty Group, Inc. | Member | 100% | ||||
Summerville-Orangeburg, LLC | Delaware | Regency Realty Group, Inc. | Member | 100% | ||||
RRG Pennsylvania GP, Inc. | Florida | Regency Realty Group, Inc. | Common Stock | 100% | ||||
Swatara Marketplace LP | Delaware | RRG Pennsylvania GP, Inc. Regency Realty Group, Inc. | General Partner Limited Partner | .5% 99.5% | ||||
Tinwood, LLC | Florida | Regency Realty Group, Inc. | Member Member | 50% 50% | ||||
Valleydale, LLC | Delaware | Regency Realty Group, Inc. | Member | 100% | ||||
West End Properties, LLC | Florida | Regency Realty Group, Inc. | Member | 100% |
Note 1: Snowden Leftwich is a Regency employee who is the licensed broker for this entity. Colorado requires that the broker must own a minimum of 20% of the equity in a licensed entity.
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