--------------------------------------------------
| Equity One, Inc. |
| Supplemental Information Package |
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March 31, 2002
(EQUITY ONE LOGO)
Equity One, Inc.
1696 N.E. Miami Gardens Drive
North Miami Beach, Florida 33179
Tel: (305) 947-1664 Fax: (305) 947-1734
www.equityone.net
Equity One, Inc.
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Supplemental Information This page is automatic
March 31, 2002
(unaudited)
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TABLE OF CONTENTS Page
1. Summary Operating Information........................................... 3
2. Summary Balance Sheet Information....................................... 4
3. Consolidated Statements of Earnings..................................... 5
4. Consolidated Statements of Funds from Operations........................ 6
5. Consolidated Balance Sheets............................................. 7
6. Debt Summary............................................................ 8
7. Property Status Report.................................................. 11
8. Annual Minimum Rent by Location......................................... 14
9. Real Estate Developments, Dispositions and Other Recent Activities...... 15
10. Joint Venture Investments............................................... 16
11. Tenant Concentration Schedule........................................... 17
12. Lease Expiration Schedule............................................... 18
13. Stock Price and Volume Statistics....................................... 19
FORWARD LOOKING STATEMENTS
Certain information contained in this Supplemental Information
Package may contain forward-looking statements regarding company
and property performance within the meaning of the Private
Securities Litigation Reform Act of 1995. Future results could
vary materially from actual results depending on risks and
uncertainties inherent in general and local real estate
conditions, or competitive factors specific to the markets in
which the Company operates. The Company assumes no obligation to
update this information. For more details, please refer to
Equity One's SEC filings, including the most recent report on
Form 10-K and Form 10-Q.
BASIS OF PRESENTATION
All reporting periods encompassing the period August 18, 2000
through September 19, 2001 have been restated to account for the
acquisition of 68.07% of the stock of First Capital Realty
(TSE:FCR), the parent of Centrefund Realty (U.S.) Corporation
(CEFUS), by Gazit-Globe (1982) Ltd. (TLV:GLOB), Equity One's
majority shareholder. The restatement consolidates the
operations of Equity One and CEFUS between August 18, 2000 and
September 19, 2001, subject to a 31.93% minority interest in
CEFUS. On September 20, 2001, Equity One acquired 100% of CEFUS
from First Capital Realty, thereby acquiring the remaining
31.93% minority interest.
EQUITY ONE, INC.
SUMMARY OPERATING INFORMATION
for the periods ended March 31, 2002 and 2001
(in thousands, except per share data)
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3 MONTHS ENDED
MAR 31, 2002 MAR 31, 2001
-----------------------------------
TOTAL DIVIDENDS PAID PER SHARE $ 0.27 $ 0.26
FUNDS FROM OPERATIONS PER SHARE $ 0.36 $ 0.34
DIVIDEND / FFO PAYOUT RATIO 75.0% 76.5%
FFO MULTIPLE (ANNUALIZED IF < 12 MONTHS) 9.3
Adjusted Funds from Operations per share $ 0.34 $ 0.32
DIVIDEND / AFFO PAYOUT RATIO 79.4% 81.3%
AFFO MULTIPLE (ANNUALIZED IF < 12 MONTHS) 9.9
- -----------------------------------------------------------------------------------------------
EBITDA (EXCL GAIN ON REAL ESTATE SALES) $ 16,798 $ 12,665
INTEREST EXPENSE AND
FINANCING FEE AMORTIZATION $ 6,320 $ 5,270
EBITDA: INTEREST COVERAGE RATIO 2.7 2.4
EBITDA MARGIN (EBITDA/TOTAL REVENUES) 64.7% 65.2%
- -----------------------------------------------------------------------------------------------
NET OPERATING INCOME (NOI) FROM CONTINUING OPERATIONS
TOTAL RENTAL INCOME $ 25,433 $ 18,735
PROPERTY OPERATING EXPENSES (1) 7,783 5,631
NET OPERATING INCOME $ 17,650 $ 13,104
NOI MARGIN (NOI/TOTAL RENTAL INCOME) 69.4% 69.9%
(1) NET OF INTERCOMPANY EXPENSES WHICH HAVE BEEN ELIMINATED.
- -----------------------------------------------------------------------------------------------
SAME PROPERTY NOI (2)
TOTAL RENTAL INCOME $ 8,048 $ 7,845
OPERATING EXPENSES 2,161 2,079
NET OPERATING INCOME $ 5,887 $ 5,766
GROWTH IN SAME PROPERTY NOI 2.1% 2.1%
(2) INCLUDES ORIGINAL EQUITY ONE PROPERTIES OPERATED IN THE CURRENT AND PRIOR PERIODS.
GENERAL & ADMINISTRATIVE EXPENSES (3) $ 1,996 $ 811
AS % OF TOTAL REVENUES 7.69% 4.17%
AS % OF TOTAL ASSETS 1.17% 0.49%
(3) 2002 FIGURE INCLUDES $612 OF ABANDONED TRANSACTION DUE DILIGENCE COSTS.
Page 3
EQUITY ONE, INC.
SUMMARY BALANCE SHEET INFORMATION
as of March 31, 2002 and December 31, 2001
(in thousands, except per share data)
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MAR 31, 2002 DEC 31, 2001
------------ ------------
CLOSING MARKET PRICE $ 13.450 $ 13.740
DIVIDEND YIELD (BASED ON CURRENT ANNUALIZED DIVIDEND) 8.03% 7.57%
BOOK VALUE PER SHARE (FULLY DILUTED, END OF PERIOD) $ 10.050 $ 9.497
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LIQUIDITY
CASH AND CASH EQUIVALENTS $ 3,304 $ 906
------------ -----------
REVOLVING CREDIT FACILITIES
GROSS AVAILABLE UNDER CURRENT CREDIT FACILITIES 70,226 50,641
LESS: OUTSTANDING BALANCE (9,000) (27,409)
HOLDBACK FOR LETTERS OF CREDIT (999) (999)
ESCROWED FOR TAX AND INSURANCE (448) (448)
------------ -----------
NET AVAILABLE UNDER CREDIT FACILITIES $ 59,779 $ 21,785
============ ===========
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EQUITY CAPITALIZATION (END OF PERIOD)
COMMON STOCK SHARES (IN THOUSANDS)
BASIC COMMON STOCK SHARES 33,224.129 28,620.757
Diluted Common Shares
Unvested Restricted Common Shares 146.422 160.086
Walden Woods Shares 93.656 93.656
Northport Operating Partnership Units 261.850 261.850
Common Stock Options (Treasury Method, closing price) 109.154 164.620
------------ -----------
FULLY DILUTED COMMON STOCK SHARES 33,835.211 29,300.969
============ ===========
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Net Debt (adjusted for Cash, Restricted Cash, Securities) $ 312,645 $ 368,188
Equity Market Capitalization (fully diluted, end of period) 455,084 402,595
------------ ----------
TOTAL MARKET CAPITALIZATION $ 767,729 $ 770,783
============ =========
NET DEBT TO TOTAL MARKET CAPITALIZATION 40.7% 47.8%
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GROSS REAL ESTATE INVESTMENTS $ 664,029 $ 656,005
NET DEBT TO GROSS REAL ESTATE INVESTMENTS 47.1% 56.1%
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Fixed Rate Mortgage Debt $ 291,739 $ 296,887
Variable Rate Bank Debt 33,635 75,569
------------ ---------
TOTAL DEBT $ 325,374 $ 372,456
============ =========
% FIXED RATE DEBT 89.7% 79.7%
% VARIABLE RATE DEBT (INCLUDING SWAPS OR RATE-LOCKS) 10.3% 20.3%
WEIGHTED-AVERAGE INTEREST RATE ON FIXED RATE DEBT 7.76% 7.76%
Page 4
EQUITY ONE, INC.
CONSOLIDATED STATEMENTS OF EARNINGS
for the periods ended March 31, 2002 and 2001
(in thousands, except per share data)
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3 Months Ended
Mar 31, 2002 Mar 31, 2001
--------------------------
REVENUES
RENTAL INCOME
MINIMUM RENTS $ 18,282 $ 13,961
EXPENSE RECOVERIES 6,210 4,200
PERCENTAGE RENT PAYMENTS 941 574
----------------------
TOTAL RENTAL INCOME 25,433 18,735
MANAGEMENT FEES 98 241
GAIN ON SALE OF SECURITIES 0 0
INTEREST AND DIVIDENDS 413 450
----------------------
TOTAL REVENUES 25,944 19,426
----------------------
COSTS AND EXPENSES
PROPERTY OPERATING EXPENSES 7,783 5,631
INTEREST AND AMORTIZATION OF DEFERRED FINANCING FEES 6,320 5,270
REAL PROPERTY DEPRECIATION AND AMORTIZATION 3,333 2,586
GENERAL & ADMINISTRATIVE EXPENSES 1,996 811
----------------------
TOTAL COSTS AND EXPENSES 19,432 14,298
----------------------
INCOME BEFORE EQUITY IN INCOME OF JOINT VENTURES, MINORITY INTEREST
IN EARNINGS OF CONSOLIDATED SUBSIDIARY, INCOME TAXES,
MINORITY INTEREST IN CEFUS AND DISCONTINUED OPERATIONS 6,512 5,128
EQUITY IN INCOME OF JOINT VENTURES 151 127
MINORITY INTEREST IN EARNINGS OF CONSOLIDATED SUBSIDIARY (25) 0
INCOME TAX BENEFIT/(EXPENSE)
CURRENT 0 180
DEFERRED 0 (965)
----------------------
INCOME BEFORE MINORITY INTEREST IN CEFUS & DISCONTINUED OPERATIONS 6,638 4,470
MINORITY INTEREST IN CEFUS 0 (446)
----------------------
INCOME FROM CONTINUING OPERATIONS 6,638 4,024
----------------------
DISCONTINUED OPERATIONS
INCOME FROM OPERATIONS OF SOLD PROPERTIES 507 0
GAIN ON DISPOSAL OF REAL ESTATE 6,122 0
----------------------
INCOME FROM DISCONTINUED OPERATIONS 6,629 0
----------------------
NET INCOME $ 13,267 $ 4,024
======================
BASIC EARNINGS PER SHARE
INCOME FROM CONTINUING OPERATIONS $ 0.23 $ 0.20
INCOME FROM DISCONTINUED OPERATIONS 0.22 0.00
----------------------
NET INCOME $ 0.45 $ 0.20
======================
DILUTED EARNINGS PER SHARE
INCOME FROM CONTINUING OPERATIONS $ 0.22 $ 0.20
INCOME FROM DISCONTINUED OPERATIONS 0.22 0.00
----------------------
NET INCOME $ 0.44 $ 0.20
======================
WEIGHTED AVERAGE SHARES OUTSTANDING
BASIC 29,354 19,853
DILUTED 30,029 20,365
Page 5
EQUITY ONE, INC.
CONSOLIDATED STATEMENTS OF FUNDS FROM OPERATIONS
for the periods ended March 31, 2002 and 2001
(in thousands, except per share data)
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3 Months Ended
Mar 31, 2002 Mar 31, 2001
--------------------------------
NET INCOME $ 13,267 $ 4,024
DEPRECIATION OF REAL ESTATE 3,263 2,556
AMORTIZATION OF CAPITALIZED LEASING FEES 66 21
GAIN ON SALE OF DISPOSAL OF REAL ESTATE (6,122) 0
INTEREST ON CONVERTIBLE PARTNERSHIP UNITS 65 64
MINORITY INTEREST IN LOSS OF CONSOLIDATED SUBSIDIARY 25 0
DEFERRED INCOME TAXES 0 965
SHARE OF REAL ESTATE DEPRECIATION IN JOINT VENTURES 174 18
MINORITY INTEREST SHARE OF FFO ADJUSTMENTS 0 (748)
--------------------------
FUNDS FROM OPERATIONS $ 10,738 $ 6,900
==========================
INCREASE 55.6% 55.6%
FFO PER SHARE (DILUTED) $ 0.36 $ 0.34
INCREASE 5.9% 5.9%
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ADJUSTED FUNDS FROM OPERATIONS (AFFO)
FUNDS FROM OPERATIONS $ 10,738 $ 6,900
LESS:
STRAIGHT LINE RENT ADJUSTMENT 32 32
RECURRING CAPITAL EXPENDITURES
TENANT IMPROVEMENTS 253 85
LEASING COMMISSIONS AND FEES 122 88
OTHER CAPITAL EXPENDITURES 222 185
--------------------------
TOTAL RECURRING CAPITAL EXPENDITURES 597 358
ADJUSTED FUNDS FROM OPERATIONS $ 10,109 $ 6,510
==========================
INCREASE 55.3%
AFFO PER SHARE (DILUTED) $ 0.34 $ 0.32
INCREASE 6.3%
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WEIGHTED AVERAGE DILUTED SHARES 30,029 20,365
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Page 6
EQUITY ONE, INC.
CONSOLIDATED BALANCE SHEETS
as of March 31, 2002 and December 31, 2001
(in thousands, except per share data)
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Mar 31, 2002 Dec 31, 2001
------------ ------------
ASSETS
RENTAL PROPERTY
LAND, BUILDINGS AND EQUIPMENT $ 612,404 $ 607,507
BUILDING IMPROVEMENTS 18,207 18,794
LAND HELD FOR DEVELOPMENT 25,421 23,792
CONSTRUCTION IN PROGRESS 7,997 5,912
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TOTAL RENTAL PROPERTY 664,029 656,005
LESS: ACCUMULATED DEPRECIATION (31,298) (28,318)
--------- ---------
RENTAL PROPERTY, NET 632,731 627,687
CASH AND CASH EQUIVALENTS 3,304 906
RESTRICTED CASH 7,764 1,715
SECURITIES AVAILABLE FOR SALE 1,688 1,681
ACCOUNTS AND OTHER RECEIVABLES, NET 3,328 5,564
NOTES RECEIVABLE 11,094 9,697
DUE FROM RELATED PARTIES 15 57
DEPOSITS 7,327 6,219
PREPAID AND OTHER ASSETS 2,604 2,855
DEFERRED EXPENSES, NET 3,378 3,132
INVESTMENTS IN JOINT VENTURES 7,837 7,742
GOODWILL, NET 2,276 1,281
--------- ---------
TOTAL ASSETS $ 683,346 $ 668,536
===========================================================================================================
LIABILITIES AND SHAREHOLDERS' EQUITY
LIABILITIES
MORTGAGE NOTES PAYABLE $ 316,374 $ 345,047
REVOLVING CREDIT FACILITIES 9,000 27,409
ACCOUNTS PAYABLE AND ACCRUED EXPENSES 9,953 8,987
TENANT SECURITY DEPOSITS 3,868 4,090
DEFERRED RENTAL INCOME 239 766
DUE TO RELATED PARTIES 0 101
MINORITY INTEREST IN EQUITY OF CONSOLIDATED SUBSIDIARIES 3,869 3,869
--------- ---------
TOTAL LIABILITIES 343,303 390,269
SHAREHOLDERS' EQUITY
COMMON STOCK, $0.01 PAR VALUE 334 288
ADDITIONAL PAID-IN CAPITAL 340,741 283,619
RETAINED EARNINGS 7,065 1,808
ACCUMULATED OTHER COMPREHENSIVE LOSS (27) (34)
UNAMORTIZED RESTRICTED STOCK COMPENSATION (1,626) (1,836)
NOTE RECEIVABLE FROM ISSUANCE OF COMMON STOCK (6,444) (5,578)
--------- ---------
TOTAL SHAREHOLDERS' EQUITY 340,043 278,267
--------- ---------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 683,346 $ 668,536
===========================================================================================================
Page 7
EQUITY ONE, INC.
DEBT SUMMARY
as of March 31, 2002
(in thousands)
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LOAN CLOSING/ ORIGINAL
REFINANCING LOAN MATURITY MAR 31, 2002
PROPERTY DATE(1) AMOUNT(2) DATE RATE(3) BALANCE
FIXED RATE MORTGAGE DEBT
Ft. Caroline 03/29/95 $ 2,500 04/01/02 9.350% $ 2,078
Eustis Square 10/22/93 5,942 07/01/02 9.000% 4,410
Forest Edge 05/01/96 2,099 10/01/02 6.900% 1,620
Lantana 02/19/98 4,400 02/15/05 6.950% 3,920
Benchmark 09/21/01 3,483 07/01/05 9.250% 3,448
Sterling Plaza 09/20/01 4,197 09/01/05 8.750% 4,153
Green Oaks 09/21/01 3,189 10/01/05 8.375% 3,155
Townsend Square 09/20/01 5,005 10/01/05 8.500% 4,973
Melbourne Plaza 09/21/01 1,843 11/01/05 8.375% 1,823
Northwest Crossing 09/21/01 1,754 11/01/05 8.375% 1,735
Oak Hill 12/07/95 2,500 01/01/06 7.625% 2,082
Walden Woods 01/01/99 2,835 08/01/06 7.875% 2,566
Big Curve 09/21/01 5,683 10/01/06 9.190% 5,632
Highland Square 09/21/01 4,234 11/01/06 8.870% 4,196
Park Northern 09/21/01 2,484 12/01/06 8.370% 2,442
University Mall 09/21/01 12,874 12/01/06 8.440% 12,799
Rosemeade 09/21/01 3,319 12/01/07 8.295% 3,289
Colony Plaza 09/21/01 3,884 01/01/08 7.540% 3,079
Parkwood (4) 09/21/01 6,371 01/01/08 7.280% 6,333
Richwood (4) 09/21/01 3,282 01/01/08 7.280% 3,262
Commonwealth 02/15/98 3,300 02/15/08 7.000% 2,942
Mariners Crossing 09/01/00 3,516 03/01/08 7.080% 3,456
Pine Island/Ridge Plaza 08/01/99 26,234 07/01/08 6.910% 25,506
Shoppes at Westburry 09/20/01 2,336 10/01/08 7.300% 2,323
Prosperity Centre 09/20/01 7,120 02/01/09 7.875% 6,969
Shoppes of Northport 12/05/00 4,370 02/08/09 6.650% 4,267
Park Promenade 01/31/00 6,500 02/01/10 8.100% 6,398
Skipper Palms 09/21/01 3,617 03/01/10 8.625% 3,603
Jonathan's Landing 09/20/01 2,966 05/01/10 8.050% 2,953
Bluff's Square 09/20/01 10,249 06/01/10 8.740% 10,212
Kirkman Shoppes 09/20/01 9,679 06/01/10 8.740% 9,644
Ross Plaza 09/20/01 6,750 06/01/10 8.740% 6,726
Boynton Plaza 09/20/01 7,637 07/01/10 8.030% 7,605
Pointe Royale 07/28/95 6,000 07/15/10 7.950% 4,923
Plymouth Park East 1 (5) 09/20/01 159 08/01/10 8.250% 157
Plymouth Park East 2 (5) 09/20/01 477 08/01/10 8.250% 471
Plymouth Park North (5) 09/20/01 8,506 08/01/10 8.250% 8,410
Plymouth Park South (5) 09/20/01 636 08/01/10 8.250% 628
Plymouth Park Story North (5) 09/20/01 391 08/01/10 8.250% 387
Plymouth Park West (5) 09/20/01 2,542 08/01/10 8.250% 2,513
Shops at Skylake 07/06/00 16,350 08/01/10 7.650% 15,200
Minyard's 09/20/01 2,586 11/01/10 8.320% 2,569
Forest Village 03/08/01 4,700 04/01/11 7.270% 4,563
Boca Village 09/20/01 8,478 05/01/11 7.200% 8,438
Sawgrass Promenade 09/20/01 8,478 05/01/11 7.200% 8,438
Plaza del Rey 08/01/96 3,050 09/01/11 8.125% 2,328
Lake Mary 11/01/01 25,000 11/01/11 7.250% 24,921
Page 8
EQUITY ONE, INC.
DEBT SUMMARY
as of March 31, 2002
(in thousands)
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LOAN CLOSING/ ORIGINAL
REFINANCING LOAN MATURITY MAR 31, 2002
PROPERTY DATE(1) AMOUNT(2) DATE RATE(3) BALANCE
Lake St. Charles 10/29/01 3,950 11/01/11 7.130% 3,937
Marco Island 12/31/01 9,000 01/01/12 6.700% 8,975
Summerlin Square 01/25/99 5,000 02/01/14 6.750% 4,339
Bird Ludlum 02/19/97 13,400 02/15/15 7.680% 11,252
West Lake 05/22/97 5,902 06/01/16 7.875% 5,128
Atlantic Village 10/30/98 5,000 11/01/18 6.850% 4,563
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TOTAL FIXED RATE MORTGAGE DEBT (53 LOANS) $ 305,757 7.43 7.76% $ 291,739
(WTD-AVG MATURITY) (WTD-AVG RATE)
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VARIABLE RATE MORTGAGE DEBT
Comerica/4 property loan (6) 09/20/01 24,635 02/28/04 L+200 / P-75 24,635
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TOTAL VARIABLE RATE MORTGAGE DEBT $ 24,635 $ 24,635
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TOTAL MORTGAGE NOTES $ 330,392 $ 316,374
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REVOLVING CREDIT FACILITIES
City National Bank (7) 02/04/99 $ 10,826 05/04/02 L+225 $ 0
Bank Leumi (8) 09/17/01 30,000 09/16/02 L+125 9,000
Wells Fargo (9) 02/27/02 29,400 02/26/05 L+125 0
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TOTAL REVOLVING CREDIT FACILITIES $ 70,226 $ 9,000
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TOTAL DEBT $ 325,374
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MATURITY SCHEDULE SCHEDULED BALLOON
BY YEAR AMORTIZATION PAYMENTS(10) TOTAL Includes Revolving Credit Facility Balances
----------------------------------------------------------------
2002 $ 4,086 $ 16,989 $ 21,075
2003 5,719 0 5,719
2004 6,145 24,635 30,780
2005 6,380 21,254 27,634
2006 6,233 26,470 32,703
2007 6,066 2,864 8,930
2008 5,745 42,217 47,962
2009 5,336 7,663 12,999
2010 4,505 68,564 73,069
2011 3,180 44,410 47,590
Thereafter 9,633 7,280 16,913
----------------------------------------------------------------
Total $ 63,028 $ 262,346 $ 325,374
Page 9
EQUITY ONE, INC.
DEBT SUMMARY
as of March 31, 2002
(in thousands)
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(1) The more recent of the loan closing/assumption date and the date of any
subsequent refinancing.
(2) The principal amount on the loan closing/assumption date, adjusted to
reflect any subsequent additional funding.
(3) The rate in effect on March 31, 2002.
(4) The mortgage balances for Parkwood and Richwood represent the future
minimum lease payments (net of imputed interest) attributable to lease
payments on these two properties, both of which are owned pursuant to
capital lease obligations.
(5) All of the Plymouth loans are with Sun Life of Canada. In the case of
Plymouth Park North and East, the collateral has been split into two
parts; hence the two individual loans.
(6) This Comerica facility is secured by Grogans Mill ($7,995),
Steeplechase ($6,305), Mission Bend ($6,370) and Beechcrest ($3,965).
(7) The CNB Line was authorized to $10,826 as of March 31, 2002, and is
secured by Mandarin Mini-storage, Skylake Phase III land, Montclair
Apartments, Beauclerc Village and East Bay Plaza.
(8) The Bank Leumi facility is secured by negative pledges on Ryanwood,
Pompano, McMinn, SW Walgreens, Bandera, Market at First Colony and
Mason Park. We have an option to extend the maturity of the Leumi
facility for an additional 6 months to March 16, 2003.
(9) On February 27, 2002, we closed a new $29,400 secured, revolving, line
of credit with Wells Fargo. The facility is secured by Oakbrook,
Mandarin Landing, Hedwig, Bissonet and Spring Shadows. The rate on the
facility is LIBOR + a range of 115 to 150 depending on overall
leverage. As of March 31, 2002, the rate was LIBOR + 125.
(10) Represents the entire principal balance of a maturing loan on the
maturity date.
Page 10
EQUITY ONE, INC.
PROPERTY STATUS REPORT
as of December 31, 2001
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YEAR TOTAL # OF TENANTS
BUILT/ SQUARE PERCENT ---------------------
PROPERTY CITY RENOVATED FOOTAGE OCCUPIED OCCP'D VACANT
-------- ---- --------- ------- -------- ------ ------
FLORIDA (45)
NORTH FLORIDA (9)
Atlantic Village Atlantic Beach 1984 / 1998 100,559 94.70% 23 2
Beauclerc Village Jacksonville 1962 / 1988 70,429 100.00% 12 0
Commonwealth Jacksonville 1984 / 1998 81,467 95.20% 14 2
Forest Village Tallahassee 2000 71,526 93.30% 16 1
Ft. Caroline Jacksonville 1985 / 1995 74,546 96.30% 11 3
Losco Jacksonville 2000 8,700 74.70% 6 1
Mandarin Landing Jacksonville 1976 / 2000 141,565 94.50% 33 4
Monument Point Jacksonville 1985 / 1997 75,128 97.60% 12 1
Oak Hill Jacksonville 1985 / 1997 78,492 100.00% 19 0
CENTRAL FLORIDA (8)
Eckerds Leesburg Leesburg 2000 12,739 100.00% 1 0
Eckerds Melbourne Melbourne 2001 10,908 100.00% 1 0
Eustis Square Eustis 1983 / 1997 126,791 87.40% 18 9
Forest Edge Orlando 1983 / 1997 68,631 100.00% 12 0
Kirkman Shoppes Orlando 1973 88,820 100.00% 32 0
Lake Mary Orlando 1988 / 2001 339,084 96.80% 61 7
Park Promenade Orlando 1987 / 2000 125,818 100.00% 27 0
Walden Woods Plant City 1985 / 1998 75,336 98.70% 11 1
WEST COAST FLORIDA (8)
East Bay Plaza Largo 1985 / 1997 85,426 57.70% 18 4
Lake St. Charles Tampa 1999 57,015 100.00% 8 0
Marco Town Center Marco Island 2001 109,430 89.80% 35 10
Mariners Crossing Spring Hill 1989 / 1999 85,507 96.50% 13 2
Ross Plaza Tampa 1984 / 1996 85,358 88.00% 17 4
Shoppes of North Port North Port 1991 84,705 100.00% 22 0
Skipper Palms Tampa 1984 86,944 100.00% 17 0
Summerlin Square Fort Myers 1986 / 1998 109,156 89.20% 22 6
SOUTH FLORIDA / ATLANTIC COAST (20)
Bird Ludlum Miami 1988 / 1998 192,282 96.20% 49 1
Bluffs Square Jupiter 1986 132,395 98.20% 46 5
Boca Village Boca Raton 1978 96,473 94.10% 23 2
Boynton Plaza Boynton Beach 1978 / 1999 99,324 90.40% 27 3
Cashmere Corners Port St. Lucie 2001 89,234 100.00% 18 0
Jonathan's Landing Jupiter 1997 26,820 100.00% 12 0
Lantana Village Lantana 1976 / 1999 176,110 99.40% 25 0
SUPERMARKET ANCHOR *
------------------------------- AVERAGE
OWNED SHADOW NAME BASE RENT
PROPERTY SF SF EXP DATE OTHER ANCHOR TENANTS PER OCC SF
-------- ----- ------ -------- -------------------- ----------
FLORIDA (43)
NORTH FLORIDA (9)
Atlantic Village 39,795 Publix Jo-Ann Fabrics, Dollar Tree $ 9.98
(10/31/2008)
Beauclerc Village Walgreen's*, Big Lots 7.59
Commonwealth 48,997 Winn-Dixie 8.00
(2/28/2018)
Forest Village 37,866 Publix 10.22
(4/30/2020)
Ft. Caroline 45,500 Winn-Dixie Eckerd's* (Bealls Outlet) 7.30
(5/31/2015)
Losco 45,820 Winn-Dixie 18.76
Mandarin Landing 34,400 Publix Office Depot, Eckerd's 8.86
(2/14/2007)
Monument Point 46,772 Winn-Dixie Eckerd's 6.44
(3/27/2005)
Oak Hill 39,795 Publix Walgreen's* (Bonus Dollar) 6.87
(5/11/2005)
Central Florida (8)
Eckerds Leesburg Eckerd's 26.55
Eckerds Melbourne Eckerd's 19.52
Eustis Square 38,520 Publix Walgreen's* (Bealls Outlet) 6.70
(11/30/2004)
Forest Edge 42,075 Winn-Dixie Autozone 7.12
(8/8/2007)
Kirkman Shoppes Eckerd's 17.50
Lake Mary 63,139 Albertson's K-Mart, Sun Star Theatres 11.46
(6/30/2012)
Park Promenade 55,000 Publix Blockbuster, Orange County 9.33
(2/9/2007) Library
Walden Woods 46,636 Winn-Dixie* Walgreen's 6.75
(11/30/08)
West Coast Florida (8)
East Bay Plaza 53,000 Albertson's Family Dollar 9.49
Lake St. Charles 46,295 Kash N' Karry 9.63
(6/30/2019)
Marco Town Center 27,887 Publix 16.43
(1/31/2018)
Mariners Crossing 48,315 Kash 'N Karry 7.97
(4/30/2020)
Ross Plaza Walgreen's, Ross Dress for Less 9.77
Shoppes of North Port 48,890 Publix Beall's Outlet 8.45
(12/11/2011)
Skipper Palms 53,012 Winn-Dixie 8.45
(5/31/2016)
Summerlin Square 45,500 Winn-Dixie Eckerd's 10.51
(6/4/2006)
SOUTH FLORIDA / ATLANTIC COAST (20)
Bird Ludlum 44,400 Winn-Dixie Blockbuster, Eckerd's 14.16
(12/31/2007)
Bluffs Square 39,795 Publix Walgreen's 11.17
(10/22/2006)
Boca Village 36,000 Publix Eckerd's 13.51
(3/31/2007)
Boynton Plaza 37,664 Publix Eckerd's 10.08
(8/31/2003)
Cashmere Corners 59,448 Albertson's 7.80
(4/30/2025)
Jonathan's Landing 53,850 Albertson's Blockbuster 17.49
Lantana Village 39,473 Winn-Dixie K-Mart 6.34
(2/15/2011)
Page 11
YEAR TOTAL # OF TENANTS
BUILT/ SQUARE PERCENT -----------------
PROPERTY CITY RENOVATED FOOTAGE OCCUPIED OCCP'D VACANT
-------- ---- --------- ------- -------- ------ ------
FLORIDA (43)
SOUTH FLORIDA - ATLANTIC COAST (CONTINUED) (20)
Oakbrook Palm Beach Gardens 1974 / 2010 225,073 86.00% 22 13
Pine Island Davie 1983 / 1999 254,907 99.30% 46 1
Plaza Del Rey Miami 1985 / 1996 50,146 83.70% 20 2
Point Royale Miami 1970 / 2000 209,863 94.60% 24 2
Pompano Pompano Beach 1968 / 2001 80,697 100.00% 1 0
Prosperity Centre Palm Beach Gardens 1993 122,106 100.00% 9 0
Ridge Plaza Davie 1984 / 1999 155,204 95.90% 25 4
Ryanwood Vero Beach 1987 114,925 93.90% 30 3
Sawgrass Promenade Deerfield Beach 1982 / 1998 107,092 99.10% 28 1
Shops at Skylake North Miami Beach 1999/2000-01 174,199 98.60% 44 3
University Mall Ft. Lauderdale 1973 326,307 19.70% 22 23
West Lakes Plaza Miami 1984 / 2000 100,747 100.00% 27 0
Westburry Miami 1988 33,706 100.00% 21 0
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL SHOPPING CENTERS FLORIDA (43) 5,021,690 90.30% 979 121
- -----------------------------------------------------------------------------------------------------------------------------------
TEXAS (32)
HOUSTON (15)
Barker Cypress Houston 2001 66,945 95.00% 9 3
Beechcrest Houston 1981 / 2001 90,797 100.00% 15 0
Benchmark Crossing Houston 1986 58,384 100.00% 5 0
Bissonnet Houston 1999 15,542 100.00% 8 0
Colony Plaza Houston 1997 26,513 77.70% 11 4
Copperfield Houston 1994 160,695 47.10% 28 7
Grogan's Mill Houston 1986 118,398 98.30% 27 1
Hedwig Houston 1974 69,504 100.00% 13 0
Highland Square Houston 1998 64,171 97.10% 25 2
Market at First Colony Houston 1988 107,301 99.20% 35 1
Mason Park Houston 1998 160,047 77.20% 33 7
Mission Bend Houston 1980 / 1999 129,675 98.50% 25 1
Spring Shadows Houston 1999 36,611 96.70% 15 1
Steeplechase Houston 1985 105,152 98.40% 25 1
Woodforest Houston 1991 12,741 100.00% 4 0
DALLAS (14)
Green Oaks Dallas 1983 65,091 65.80% 21 11
Melbourne Plaza Dallas 1983 47,517 82.80% 14 4
Minyards Garland 2000 58,695 100.00% 1 0
Northwest Crossing Dallas 1983 33,366 82.30% 14 3
SUPERMARKET ANCHOR *
------------------------------- AVERAGE
OWNED SHADOW NAME BASE RENT
PROPERTY SF SF EXP DATE OTHER ANCHOR TENANTS PER OCC SF
-------- ----- ------ -------- -------------------- ----------
Oakbrook 44,400 Publix Eckerd's, Roly's Bistro 8.78
(10/31/2020) Jacobson Stores, Inc.
Pine Island 39,943 Publix Home Depot Expo, Rite Aid* $9.07
(11/30/2013) Bealls Outlet)
Plaza Del Rey Navarro Pharmacy 12.51
Point Royale 45,350 Winn-Dixie Best Buy, Eckerd's 6.43
(2/18/2011)
Pompano Lowe's 6.69
Prosperity Centre Office Depot, Barnes & Noble, Bed 14.75
Bath & Beyond, Carmine's,
TJ Maxx
Ridge Plaza see Pine Island AMC Theater, Kabooms. Republic 8.54
Security Bank, Uncle Funny's,
The Round Up
Ryanwood 39,795 Publix 8.88
(3/23/2017)
Sawgrass Promenade 36,464 Publix Blockbuster, Walgreen's 11.30
(11/30/2004)
Shops at Skylake 51,420 Publix Blockbuster, Goodwill 15.17
(7/31/2019)
University Mall Eckerd's 10.43
West Lakes Plaza 46,216 Winn-Dixie Navarro Pharmacy 10.59
(10/31/2016)
Westburry 16.23
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL SHOPPING CENTERS FLORIDA (43) 1,368,762 152,670 $10.22
- -----------------------------------------------------------------------------------------------------------------------------------
TEXAS (32)
HOUSTON (15)
Barker Cypress 41,320 H.E. Butt 10.10
(01/31/2014)
Beechcrest 40,345 Randall's* (Viet Ho) VWalgreen's* 8.89
(6/24/2016)
Benchmark Crossing Bally's Fitness 12.13
Bissonnet 63,000 Albertson's Blockbuster 14.39
Colony Plaza 18.50
Copperfield JoAnn's Fabrics 11.78
Grogan's Mill 56,558 Randall's Petco 11.79
(6/24/2016)
Hedwig Target (shadow), Wherehouse 13.68
Music, Marshall's (shadow), Ross
Highland Square Radio Shack, Smoothie King 16.30
Market at First Colony 62,000 Kroger's TJ Maxx, Eckerd's 15.38
Mason Park 58,890 Kroger's Walgreen's* (Eloise Collectibles) 11.76
Palais Royal, Petco
Mission Bend 46,112 Randall's Factory 2 U Stores, Inc. 8.96
(6/24/2016)
Spring Shadows 15.97
Steeplechase 56,208 Randall's 11.09
(6/24/2016)
Woodforest 16.10
DALLAS (15)
Green Oaks 58,000 Kroger's 11.46
Melbourne Plaza 11.56
Minyards 58,695 Minyard's 6.40
(12/31/2029)
Northwest Crossing Blockbuster 10.89
Page 12
YEAR TOTAL # OF TENANTS
BUILT/ SQUARE PERCENT -----------------
PROPERTY CITY RENOVATED FOOTAGE OCCUPIED OCCP'D VACANT
-------- ---- --------- ------- -------- ------ ------
TEXAS (32)
DALLAS (CONTINUED) (15)
Parkwood Dallas 1985 81,590 92.00% 19 1
Plymouth East Dallas 1970 56,435 97.30% 9 1
Plymouth North Dallas 1970 444,893 51.70% 39 20
Plymouth South Dallas 1970 49,102 28.90% 4 3
Plymouth West Dallas 1970 178,930 88.10% 13 2
Richwood Dallas 1984 54,872 87.10% 24 4
Rosemeade Park Dallas 1986 49,554 88.50% 15 3
Sterling Plaza Dallas 1989 65,205 96.70% 15 1
Townsend Desoto 1990 140,259 84.50% 35 4
Village Park Dallas 1988 44,387 40.50% 6 6
San Antonio (2)
Bandera Festival San Antonio 1989 189,438 79.90% 25 7
Wurzbach San Antonio 1979 59,771 100.00% 3 0
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL SHOPPING CENTERS TEXAS (32) 2,841,581 80.40% 535 98
- -----------------------------------------------------------------------------------------------------------------------------------
ARIZONA (3)
Big Curve Yuma 1969 / 1996 126,402 97.90% 31 1
Park Northern Phoenix 1982 / 1996 126,852 81.90% 18 9
Southwest Walgreen's Phoenix 1975 / 1998 78,398 100.00% 17 0
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL SHOPPING CENTERS ARIZONA (3) 331,652 92.30% 66 10
- -----------------------------------------------------------------------------------------------------------------------------------
TENNESSEE (1)
McMinn Plaza Athens 1982 / 1994 107,200 74.60% 8 1
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL SHOPPING CENTERS TENNESSEE (1) 107,200 74.60% 8 1
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL SHOPPING CENTERS (79) 8,302,123 86.8% 1,588 230
- -----------------------------------------------------------------------------------------------------------------------------------
OTHER COMMERCIAL PROPERTIES (2)
El Novillo Miami Beach 1970 / 2000 10,000 100.0% 1 0
Epsilon W. Palm Beach 1925 / 1997 18,707 100.0% 5 0
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL SHOPPING & COMMERCIAL PPTY (82) 8,330,830 86.8% 1,594 230
- -----------------------------------------------------------------------------------------------------------------------------------
Mandarin Mini-storage Jacksonville 1982 52,880 99.4% 541 3
Montclair Apartments Miami Beach 1950 / 2000 9,375 100.0% 20 0
Plaza Alegre Development Miami
Coral Way N.E. Land Miami
- -----------------------------------------------------------------------------------------------------------------------------------
GRAND TOTAL (86) 8,393,085 2,155 233
- -----------------------------------------------------------------------------------------------------------------------------------
SUPERMARKET ANCHOR *
------------------------------- AVERAGE
OWNED SHADOW NAME BASE RENT
PROPERTY SF SF EXP DATE OTHER ANCHOR TENANTS PER OCC SF
-------- ----- ------ -------- -------------------- ----------
Parkwood 62,000 Albertson's Planet Pizza $13.35
Plymouth East 42,130 Kroger 4.09
(11/30/2013)
Plymouth North Blockbuster, Dollar General, Thrift 7.20
of America, US Postal Service
Plymouth South Betcha Bingo 10.54
Plymouth West Bargain City, Tok Won Kim 4.30
Richwood 61,877 Albertson's Blockbuster 12.52
Rosemeade Park 58,900 Kroger Blockbuster, Allure Health & Spa 13.22
Sterling Plaza Bank One, Wherehouse Entertainment 14.15
Townsend 60,349 Albertson's Stage Stores, Victory Gym, Tutor 9.44
Time
Village Park Toy's R' Us (shadow) 35.91
San Antonio (2)
Bandera Festival Eckerd's*, Blockbuster, Kmart 8.87
Wurzbach 52,957 Albertson's 2.86
(12/31/2004)
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL SHOPPING CENTERS TEXAS (32) 394,325 485,016 $10.43
- -----------------------------------------------------------------------------------------------------------------------------------
ARIZONA (3)
Big Curve 60,000 Albertson's Michael's (shadow), Walgreen's 9.59
Miller's Outpost
Park Northern 51,511 Safeway Beall's, Showbiz Pizza 6.28
(5/31/2003)
Southwest Walgreen's 27,064 Food City Walgreen's 7.39
(5/31/2005)
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL SHOPPING CENTERS ARIZONA (3) 78,575 60,000 $7.90
- -----------------------------------------------------------------------------------------------------------------------------------
TENNESSEE (1)
McMinn Plaza 60,000 Ingles 7.25
(1/30/2019)
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL SHOPPING CENTERS TENNESSEE (1) 60,000 0 $7.25
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL SHOPPING CENTERS (79) 1,901,662 697,686 $10.10
- -----------------------------------------------------------------------------------------------------------------------------------
OTHER COMMERCIAL PROPERTIES (3)
El Novillo Jumbo Buffet 13.67
Epsilon 14.74
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL SHOPPING & COMMERCIAL PPTY (82) 1,815,521 $10.11
- -----------------------------------------------------------------------------------------------------------------------------------
Mandarin Mini-storage NA
Montclair Apartments NA
Coral Way N.E. Land
Coral Way S.E. Land
- -----------------------------------------------------------------------
GRAND TOTAL (86) 1,901,662 697,686
- -----------------------------------------------------------------------
Total Square Footage does not include shadow anchor square footage whichis not
owned or controlled by Equity One.
*Include a tenant which continues to pay rent, but has closed its store and
ceased operations. The subtenant, if any, is shown in ( ).
Page 13
EQUITY ONE, INC.
ANNUAL MINIMUM RENT BY LOCATION
as of March 31, 2002
- -------------------------------------------------------------------------------
(ANNUAL MINIMUM RENT
BY LOCATION GRAPHIC)
REGION COUNT AMR STATE STATE TOTAL %
------ ----- --- ----- ----------- -----
NORTH FL 9 $5,629,828
CENTRAL FL 8 8,776,982
WEST FL 8 6,581,443
SOUTH FL 22 25,349,177 FLORIDA $46,337,430 63%
-------------------------------------------------------- ------------------------------------------------
HOUSTON 15 13,148,721
DALLAS 14 9,162,765
SAN ANTONIO 2 1,512,199 TEXAS 23,823,685 33%
-------------------------------------------------------- ------------------------------------------------
AZ 3 2,418,050 ARIZONA 2,418,050 3%
-------------------------------------------------------- ------------------------------------------------
TN 1 579,807 TENNESSEE 579,807 1%
-------------------------------------------------------- ------------------------------------------------
TOTAL 82 $73,158,972 $73,158,972 100%
-------------------------------------------------------- ------------------------------------------------
- --------------------------------------------------------------------------------
Note: Chart excludes Montclair, mini-storage and 2 developments.
Page 14
EQUITY ONE, INC.
REAL ESTATE DEVELOPMENTS, DISPOSITIONS AND OTHER RECENT ACTIVITIES
as of March 31, 2002
(in thousands, except square footage data)
- --------------------------------------------------------------------------------
1) LAKE MARY SHOPPING CENTER
Lake Mary, Florida
A total of 35,584 square feet has been added to this center over the past
twelve months. A 12-unit mini-storage facility is being added behind the
property.
2) PLAZA ALLEGRE (CORAL WAY S.E.)
Miami, Florida
We began construction in March 2002 of an 84,000 square foot shopping center
on an 8.5 acre site located on the southeast corner of S.W. 147th Avenue and
Coral Way in southwest Miami-Dade County. Plaza Allegre will feature a
44,000 square foot Publix supermarket, a 14,000 square foot junior anchor,
16,000 square feet of local retail space, 10,000 square feet of office space
and two out parcels. The initial completion date is February 2003. The
development is expected to cost a total of $10,000 (including $2,000 to
purchase the site pursuant to an existing option agreement), and is expected
to yield approximately 11.5% upon stabilization in the fourth quarter of
2003. This development is not reflected on the March 31, 2002 Property
Status Report, although the land parcel is listed as a property.
3) CORAL WAY, N.E.
Miami, Florida
We own a 4.0 acre parcel at the northeast corner of S.W. 147th Avenue and
Coral Way across the street from Plaza Allegre, upon which we expect to
commence construction of a 25,000 square foot drug-store anchored shopping
center in the third quarter of 2002 with a target completion in the fourth
quarter of 2003. This development is not reflected on the December 31, 2001
Property Status Report, although the land parcel is listed as a property. in
the third quarter of 2002 with a target completion in the fourth quarter of
2003. This development is not reflected on the December 31, 2001 Property
Status Report, although the land parcel is listed as a property.
4) UNIVERSITY MALL
Pembroke Pines, Florida
Discussions are underway with a major retailer regarding a complete
redevelopment of this property.
5) PLYMOUTH PARK NORTH
Irving, Texas
Discussions are underway with a supermarket chain regarding a potential
lease at this property.
6) OAKBROOK SQUARE
Palm Beach Gardens, Florida
Discussions are underway with a number of retailers regarding a possible
tenancy upon the maturity of the Jacobson's lease.
7) COPPERFIELD
Houston, Texas
A letter of intent is being negotiated with a health & fitness center
regarding a potential 35,000 square foot lease at this property.
8) EQY OFFICE BUILDING
Miami Beach, FL
We sold the Equity One office building in Miami Beach, Florida to the City
of Miami Beach on February 1, 2002 for a price of $6,050. We realized a gain
on the sale of this property in the amount of approximately $4,382. In
connection with the sale, we also received $450 as a settlement for pending
litigation against the City of Miami Beach.
9) BENBROOK CENTER
Benbrook, TX
We sold the Benbrook Center in Benbrook, Texas on February 28, 2002 for a
price of approximately $2,590. In connection with the sale, we realized a
gain of approximately $1,032.
10) BIRD LUDLAM LAND PARCEL
Maimi, Florida
We sold a parcel of land behind our Bird Ludlam Shopping Center in Miami
Florida on February 26, 2002 for a price of approximately $1,900. In
connection with the sale, we realized a gain of approximately $709.
Page 15
EQUITY ONE, INC.
JOINT VENTURE INVESTMENTS
as of March 31, 2002
(in thousands, except square footage data)
- --------------------------------------------------------------------------------
Owned Joint Ventures *
- --------------------
1) City Centre
Palm Beach Gardens, Florida
City Centre is a 93,565 square foot office/retail center that was 87%
occupied as of 3/31/02. The property includes a parcel of land slated for
future office development. The property is encumbered by an 8.54% fixed-rate
mortgage loan with a balance of $13,058 on 3/31/02, which matures on 4/1/10.
Equity One owns a 50% interest in this property.
2) Park Place Plano, Texas
Park Place is a 112,478 square foot retail center that was 100% occupied as
of 3/31/02. The development plan calls for the construction of two additional
phases totaling 29,000 square feet at a cost of $2,600, with completion
targeted for December 2003. On 4/5/02, the existing debt was refinanced with
a $15,000, three-year, interest-only loan at LIBOR + 140, for which we have
full recourse. Equity One owns a 50% interest in this property.
3) Oaks Square
Gainesville, Florida
Oaks Square is a 119,355 square foot retail center that was 100% occupied as
of 3/31/02. The property is encumbered by a 7.63% fixed-rate mortgage loan
with a balance of $16,747 on 3/31/02, which matures on 12/31/10. Equity One
owns a 50% interest in this property.
* Equity One accounts for these three joint venture interests using the equity
method.
Page 16
EQUITY ONE, INC.
SHOPPING CENTER & COMMERCIAL PROPERTY TENANT CONCENTRATION SCHEDULE
as of March 31, 2002
- --------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------
% OF TOTAL % OF TOTAL
NUMBER % OF TOTAL ANNUALIZED ANNUALIZED AVERAGE
OF SQUARE SQUARE MINIMUM MINIMUM MINIMUM
TENANT STORES FEET FEET RENT RENT RENT
- ---------------------------------------------------------------------------------------------------------------------
TOP TEN TENANTS
Publix 16 647,634 7.8% $4,004,304 5.5% $6.18
Winn Dixie 11 504,359 6.1% 3,191,701 4.4% 6.33
Eckerds 15 154,626 1.9% 1,614,926 2.2% 10.44
Randall's 4 199,223 2.4% 1,431,823 2.0% 7.19
K Mart 3 257,768 3.1% 1,268,768 1.7% 4.92
Walgreens 10 154,996 1.9% 1,031,839 1.4% 6.66
Blockbuster 11 63,116 0.8% 989,016 1.4% 15.67
Albertsons 4 177,544 2.1% 868,251 1.2% 4.89
Kash N' Karry 2 94,610 1.1% 726,425 1.0% 7.68
Bed, Bath & Beyond 1 37,525 0.5% 562,875 0.8% 15.00
- ---------------------------------------------------------------------------------------------------------------------
SUB-TOTAL TOP TEN TENANTS 77 2,291,401 27.5% $15,689,928 21.4% $6.85
- ---------------------------------------------------------------------------------------------------------------------
Remaining Tenants 1,517 4,934,283 59.2% 57,469,044 78.6% 11.65
- ---------------------------------------------------------------------------------------------------------------------
SUB-TOTAL ALL TENANTS 1,594 7,225,684 86.7% $73,158,972 100.0% $10.12
- ---------------------------------------------------------------------------------------------------------------------
Vacant 230 1,105,146 13.3% 0 0.0% 0.00
- ---------------------------------------------------------------------------------------------------------------------
TOTAL INCLUDING VACANT 1,824 8,330,830 100.0% $73,158,972 100.0% $8.78
- ---------------------------------------------------------------------------------------------------------------------
Page 17
EQUITY ONE, INC.
SHOPPING CENTER AND COMERCIAL PROPERTY LEASE EXPIRATION SCHEDULE
as of March 31, 2002
- -----------------------------------------------------------------------------------------------------------
PERCENT AVERAGE
PERCENT OF ANNUAL
OF ANNUALIZED TOTAL MINIMUM
NUMBER TOTAL MINIMUMN ANNUALIZED RENT PER
OF SQUARE SQUARE RENT AT MINIMUM SQUARE
DATE TENANTS(1) FEET FEET EXPIRATION(2) RENT FOOT
- -----------------------------------------------------------------------------------------------------------
M-T-M 9 20,946 0.3% $ 218,638 0.3% $10.44
2002 250 534,624 6.4% 7,171,946 9.5% 13.41
2003 310 919,885 11.0% 9,987,430 13.2% 10.86
2004 334 958,711 11.5% 11,037,059 14.5% 11.51
2005 252 897,350 10.8% 9,455,019 12.5% 10.54
2006 185 788,357 9.5% 9,264,565 12.2% 11.75
2007 79 501,524 6.0% 5,091,920 6.7% 10.15
2008 32 286,134 3.4% 3,737,473 4.9% 13.06
2009 26 135,254 1.6% 2,105,458 2.8% 15.57
2010 44 345,240 4.1% 3,144,534 4.1% 9.11
2011 20 393,061 4.7% 2,885,675 3.8% 7.34
Thereafter 50 1,444,598 17.3% 11,767,806 15.5% 8.15
- -----------------------------------------------------------------------------------------------------------
SUB-TOTAL / AVERAGE 1,591 7,225,684 86.7% $75,867,523 100.0% $10.50
- -----------------------------------------------------------------------------------------------------------
Vacant 230 1,105,146 13.3% 0 NA NA
- -----------------------------------------------------------------------------------------------------------
TOTAL / AVERAGE 1,821 8,330,830 100.0% $75,867,523 100.0% $9.11
- -----------------------------------------------------------------------------------------------------------
ANNUAL LEASE EXPIRATIONS
(GRAPHIC OMITTED)
(1) Includes 20 tenants who use 0 square feet but pay rent under various
usage agreements. Excludes 5 tenants who use 0 square feet and do not pay
rent, but make certain other payments (i.e. CAM or RE Tax).
(2) Includes the rent from 20 tenants who use 0 square feet but pay rent
under various usage agreements.
Page 18
EQUITY ONE, INC.
STOCK PRICE AND VOLUME STATISTICS *
for the three months ended March 31, 2002
- --------------------------------------------------------------------------------
DAILY HIGH-LOW-CLOSE AND
10-DAY MOVING AVERAGE
(GRPAHIC OMITTED)
DAILY TRADING VOLUME AND
10-DAY MOVING AVERAGE
(GRPAHIC OMITTED)
Page 19