Equity Ownership of Subsidiaries of Regency Realty Corporation March 23, 1998 NATURE OF % OF ENTITY JURISDICTION OWNER(S) INTEREST OWNERSHIP - ------------------------------------ --------------- ------------------------------ -------------------- --------------- Regency Realty Group, Inc. Florida The Regency Group, Inc. Common Stock 93% (formerly Regency Regency Centers, L.P. Common Stock 7% Realty Group II, Inc.) Regency Centers, L.P. Preferred Stock 100% RRC Lender, Inc. Florida Regency Realty Group, Inc. Common Stock 100% Village Commons Shopping Center Florida Regency Realty Group, Inc. General Partnership** 10% Chestnut Powder LLC Georgia Regency Realty Group, Inc. Member Marietta Outparcel, Inc. Georgia Regency Realty Group, Inc. Common Stock 100% Barnett Shoales, LLC Georgia Regency Realty Group, Inc. Member Edmunson Orange Corp. Tennessee Regency Realty Group, Inc. Common Stock 100% RRC FL SPC, Inc. Florida Regency Realty Corporation Common Stock 100% RRC GA SPC, Inc. Georgia Regency Realty Corporation Common Stock 100% RRC AL SPC, Inc. Alabama Regency Realty Corporation Common Stock 100% RRC MS SPC, Inc. Mississippi Regency Realty Corporation Common Stock 100% RRC General SPC, Inc. Florida Regency Realty Corporation Common Stock 100% RRC Limited SPC, Inc. Florida Regency Realty Corporation Common Stock 100% RRC FL Five, Inc. Florida Regency Realty Corporation Common Stock 100% RRC FL Seven, Inc. Florida Regency Realty Corporation Common Stock 100% RRC Acquisitions, Inc. Florida Regency Realty Corporation Common Stock 100% RRC Acquisitions Two, Inc. Florida Regency Realty Corporation Common Stock 100% Regency Office Partnership, L.P. Delaware Regency Centers, L.P. General Partnerhsip** 50% Regency Realty Corporation Limited Partnership 50% Regency Centers, L.P. Delaware Regency Realty Corporation General Partnership** % Regency Realty Corporation Limited Partnership % Outside Investors Limited Partnership 1 % Equiport Associates, L.P. Georgia Regency Centers, L.P. General Partnership** 55% Branch/HOP Associates, L.P. Georgia Regency Centers, L.P. General Partnership** 50.01% Old Fort Associates, L.P. Georgia Regency Centers, L.P. General Partnership** 66.70% Fieldstone Associates, L.P. Georgia Regency Centers, L.P. General Partnership** 70% Roswell Village, Ltd. Georgia Regency Centers L.P. General Partnership** 100% Treasure Coast Investors, Ltd. Florida RRC General SPC, Inc. General Partnership** 99% RRC Limited SPC, Inc. Limited Partnership 1% Regency Rosewood Temple Terrace, Florida RRC General SPC, Inc. General Partnership** 99% Ltd. RRC Limited SPC, Inc. Limited Partnership 1% Landcom Regency Mandarin, Ltd. Florida RRC General SPC, Inc. General Partnership** 99% RRC Limited SPC, Inc. Limited Partnership 1% RSP IV Criterion, Ltd. Florida RRC General SPC, Inc. General Partnership** 99% RRC Limited SPC, Inc. Limited Partnership 1% RRC Operating Partnership of Georgia Regency Centers, L.P. General Partnership** 16% Georgia L.P. Regency Ocean East Partnership Florida Regency Centers, L.P. General Partnership** 25% Limited Regency Retail Centers of Ohio, Ohio Regency Realty Corporation Common Stock 100% Inc. Hyde Park Partners, L.P. Ohio Regency Retail Centers of General Partnership** 98.95% Ohio, Inc. Midland Hyde Park Partners, General Partnership** 1.00% L.P. Midland Hyde Park Partners, Limited Partnership .05% L.P. R&M Western Partnership, L.P. Delaware Regency Realty Group, Inc. General Partnership** 1.00% Regency Centers, L.P. Limited Partnership 24.00% Delk Spectrum, L.P. Georgia Regency Realty Corporation General Partnership** 6.21% Outside Investors Limited Partnership 93.79% - ----------------- ** General Partner has liability for debts of the Partnership 1 Redeemable for shares of Regency Realty Corporation Common Stock