Accountants' Consent




The Board of Directors
Regency Realty Corporation:


We consent to incorporation by reference in the  registration  statements,  (No.
33-86886,  No. 333-930,  No. 333-2546,  and No.  333-31077) on Form S-3 and (No.
333-24971)  on Form S-8, of Regency  Realty  Corporation  of our  reports,  with
respect to the  Statements  of Revenues and Certain  Expenses for the year ended
December 31, 1996, of the following entities:


                      Name of audited entity               Date of audit report
                      ----------------------               --------------------

                      Midland Properties                    November 21, 1997
                      Pinetree Plaza                         January 27, 1998
                      Gardens Square Shopping Center         January 27, 1998



The above reports  appear in the Form 8-K of Regency  Realty  Corporation  dated
February 4, 1998.




                                                   KPMG PEAT MARWICK LLP


                                                 

Jacksonville, Florida
February 4, 1998