Independent Auditors' 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,  and No. 333-37911) on
Form S-3 and (No.  333-24971) on Form S-8, of Regency Realty  Corporation of our
reports dated February 3, 1998, except for note 12 as to which the date is March
1,  1998,  relating  to  the  consolidated  balance  sheets  of  Regency  Realty
Corporation  as of  December  31, 1997 and 1996,  and the  related  consolidated
statements of operations,  stockholders'  equity, and cash flows for each of the
years in the three-year  period ended  December 31, 1997, and related  schedule,
which  reports  appear in the  December  31, 1997 annual  report of Form 10-K of
Regency Realty Corporation.






                                                   KPMG PEAT MARWICK LLP



Jacksonville, Florida
March 23, 1998