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| Equity One, Inc. |
| Supplemental Information Package |
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JUNE 30, 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 4
www.equityone.net
EQUITY ONE, INC.
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Supplemental Information
June 30, 2002
(unaudited)
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TABLE OF CONTENTS PAGE
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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 and Dispositions..........................15
10. Joint Venture Investments..........................................16
11. Tenant Concentration Schedule......................................17
12. Lease Expiration Schedule..........................................18
13. Stock Price and Volume Statistics..................................19
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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 PRIOR 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 June 30, 2002 and 2001
(in thousands, except per share data)
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THREE MONTHS ENDED SIX MONTHS ENDED
JUN 30, 2002 JUN 30, 2001 JUN 30, 2002 JUN 30, 2001
-------------------------- --------------------------
Total Dividends Paid per Share $ 0.27 $ 0.26 $ 0.54 $ 0.52
Funds from Operations per share $ 0.33 $ 0.31 $ 0.68 $ 0.65
Dividend / FFO Payout Ratio 81.8% 83.9% 79.4% 80.0%
FFO multiple (annualized if (more than) 12 months) 10.6 10.3
Adjusted Funds From Operations Per Share $ 0.31 $ 0.29 $ 0.64 $ 0.61
Dividend / AFFO Payout Ratio 87.1% 89.7% 84.4% 85.2%
AFFO multiple (annualized if (more than) 12 months) 11.3 10.9
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EBITDA (excl Gain On Disposal of Real Estate) $ 16,295 $ 12,452 $ 33,083 $ 24,987
Interest and Amortization of
Deferred Financing Fees $ 5,489 $ 5,571 $ 11,809 $ 10,769
EBITDA : Interest Coverage Ratio 3.0 2.2 2.8 2.3
EBITDA Margin (EBITDA/Total Revenues) 67.9% 68.4% 66.2% 67.4%
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Net Operating Income (NOI) from Continuing Operations
Total Rental Income $ 23,572 $ 17,374 $ 49,005 $ 35,530
Property Operating Expenses (1) 6,616 5,207 14,409 10,635
Net Operating Income $ 16,956 $ 12,167 $ 34,596 $ 24,895
NOI Margin (NOI/Total Rental Income) 71.9% 70.0% 70.6% 70.1%
(1) NET OF INTERCOMPANY EXPENSES.
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Same Property NOI (2)
Total Rental Income $ 9,310 $ 8,963 $ 18,810 $ 17,881
Operating Expenses 2,580 2,311 5,057 4,679
Net Operating Income $ 6,730 $ 6,652 $ 13,753 $ 13,202
Growth in Same Property NOI 1.2% 4.2%
(2) INCLUDES ONLY EQUITY ONE PROPERTIES OPERATED IN THE CURRENT AND PRIOR PERIODS. EXCLUDES $104 AND $258 OF DEFERRED
TERMINATION FEES AT THE LAKE MARY PROPERTY THAT WERE RECOGNIZED IN THE THREE AND SIX MONTHS ENDED JUNE 30, 2001,
RESPECTIVELY.
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General & Administrative Expenses (3) $ 1,574 $ 731 $ 3,570 $ 1,542
as % of Total Revenues 6.56% 4.01% 7.15% 4.16%
as % of Total Assets 0.88% 0.44% 1.00% 0.23%
(3) INCLUDES $83 AND $695 OF ABANDONED TRANSACTION DUE DILIGENCE COSTS FOR THE THREE AND SIX MONTH PERIODS ENDED
JUNE 30, 2002, RESPECTIVELY.
Page 3
EQUITY ONE, INC.
SUMMARY BALANCE SHEET INFORMATION
as of June 30, 2002 and December 31, 2001
(in thousands, except per share data)
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JUN 30, 2002 DEC 31, 2001
---------------------- ----------------------
Closing Market Price $ 14.00 $ 13.74
Dividend Yield (based on current annualized dividend) 7.71% 7.57%
BOOK VALUE PER SHARE (FULLY DILUTED, END OF PERIOD) $ 9.98 $ 9.50
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LIQUIDITY
CASH AND CASH EQUIVALENTS $ 989 $ 906
CASH HELD IN ESCROW $ 2,311 $ 1,715
---------------------- ----------------------
REVOLVING CREDIT FACILITIES
GROSS AVAILABLE UNDER CURRENT CREDIT FACILITIES 70,225 50,641
LESS: OUTSTANDING BALANCE (35,893) (27,409)
HOLDBACK FOR LETTERS OF CREDIT (1,051) (999)
ESCROWED FOR TAX AND INSURANCE (448) (448)
---------------------- ----------------------
NET AVAILABLE UNDER CREDIT FACILITIES $ 32,833 $ 21,785
====================== ======================
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EQUITY CAPITALIZATION (END OF PERIOD)
COMMON STOCK SHARES (IN THOUSANDS)
BASIC COMMON STOCK SHARES 33,899.918 28,620.757
Diluted Common Shares
Unvested Restricted Common Shares 390.722 160.086
Walden Woods Shares 93.656 93.656
Northport Operating Partnership Units 261.850 261.850
Common Stock Options (Treasury Method, closing price) 125.625 164.620
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FULLY DILUTED COMMON STOCK SHARES 34,771.771 29,300.969
====================== ======================
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Net Debt (adjusted for Cash, Cash Held in Escrow, Securities Held for Sale) $ 343,808 $ 368,188
Equity Market Capitalization (fully diluted, end of period) 486,805 402,595
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TOTAL MARKET CAPITALIZATION $ 830,613 $ 770,783
====================== ======================
NET DEBT TO TOTAL MARKET CAPITALIZATION 41.4% 47.8%
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GROSS REAL ESTATE INVESTMENTS $ 706,545 $ 655,718
NET DEBT TO GROSS REAL ESTATE INVESTMENTS 48.7% 56.2%
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Fixed Rate Mortgage Debt $ 288,283 $ 296,887
Variable Rate Mortgage Debt 60,528 75,569
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TOTAL DEBT $ 348,811 $ 372,456
====================== ======================
% FIXED RATE DEBT 82.6% 79.7%
% VARIABLE RATE DEBT 17.4% 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 June 30, 2002 and 2001
(in thousands, except per share data)
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THREE MONTHS ENDED SIX MONTHS ENDED
JUN 30, 2002 JUN 30, 2001 JUN 30, 2002 JUN 30, 2001
--------------------------- ---------------------------
Revenues
Rental Income
Minimum Rents $ 18,210 $ 13,233 $ 36,492 $ 26,701
Expense Recoveries 5,088 3,937 11,298 8,051
Percentage Rent Payments 274 204 1,215 778
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Total Rental Income 23,572 17,374 49,005 35,530
Management Fees 37 315 135 556
Investment Income 392 518 805 968
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Total Revenues 24,001 18,207 49,945 37,054
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Costs and Expenses
Property Operating Expenses 6,616 5,207 14,409 10,635
Interest and Amortization of Deferred Financing Fees 5,489 5,571 11,809 10,769
Rental Property Depreciation and Amortization 3,349 2,598 6,672 5,126
General and Administrative Expenses 1,574 731 3,570 1,542
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Total Costs and Expenses 17,028 14,107 36,460 28,072
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Income before Equity in Income of Joint Ventures, Minority Interest
in Earnings of Consolidated Subsidiary, Income Taxes,
Minority Interest in Cefus and Discontinued Operations 6,973 4,100 13,485 8,982
Equity in Income of Joint Ventures 159 172 310 299
Minority Interest in Earnings of Consolidated Subsidiary (26) (49) (51) (49)
Income Tax Benefit/(expense)
Current 0 6 0 186
Deferred 0 (514) 0 (1,479)
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Income before Minority Interest in Cefus & Discontinued Operations 7,106 3,715 13,744 7,939
Minority Interest in Cefus 0 (285) 0 (731)
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Income from Continuing Operations 7,106 3,430 13,744 7,208
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Discontinued Operations
Income from Operations of Properties 351 345 858 591
Gain on Disposal of Real Estate 981 0 7,103 0
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Income from Discontinued Operations 1,332 345 7,961 591
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Net Income $ 8,438 $ 3,775 $ 21,705 $ 7,799
======================= =======================
Basic Earnings Per Share
Income from Continuing Operations $ 0.21 $ 0.17 $ 0.44 $ 0.36
Income from Discontinued Operations 0.04 0.02 0.25 0.03
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Net Income $ 0.25 $ 0.19 $ 0.69 $ 0.39
======================= =======================
Diluted Earnings Per Share
Income from Continuing Operations $ 0.21 $ 0.17 $ 0.43 $ 0.36
Income from Discontinued Operations 0.04 0.02 0.25 0.03
----------------------- -----------------------
Net Income $ 0.25 $ 0.19 $ 0.68 $ 0.39
======================= =======================
Weighted Average Shares Outstanding
Basic 33,255 19,854 31,316 19,854
Diluted 33,967 20,596 31,999 20,472
Page 5
EQUITY ONE, INC.
CONSOLIDATED STATEMENTS OF FUNDS FROM OPERATIONS
for the periods ended June 30, 2002 and 2001
(in thousands, except per share data)
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THREE MONTHS ENDED SIX MONTHS ENDED
JUN 30, 2002 JUN 30, 2001 JUN 30, 2002 JUN 30, 2001
---------------------------- ---------------------------
Net Income $ 8,438 $ 3,775 $ 21,705 $ 7,799
Depreciation of Real Estate 3,373 2,543 6,636 5,099
Amortization of Capitalized Leasing Fees 70 65 136 87
Gain on Sale of Disposal of Real Estate (981) 0 (7,103) 0
Interest on Convertible Partnership Units 65 66 130 130
Minority Interest in Earnings of Consolidated Subsidiary 26 49 51 49
Deferred Income Taxes 0 514 0 1,479
Share of Real Estate Depreciation in Joint Ventures 140 30 314 57
Minority Interest Share of FFO Adjustments 0 (614) 0 (1,365)
----------------------- -----------------------
Funds From Operations $ 11,131 $ 6,428 $ 21,869 $ 13,335
======================= =======================
Increase 73.2% 64.0%
FFO per share (diluted) $ 0.33 $ 0.31 $ 0.68 $ 0.65
Increase 6.5% 4.6%
Adjusted Funds from Operations (AFFO)
Funds from Operations $ 11,131 $ 6,428 $ 21,869 $ 13,335
less:
Straight Line Rent Adjustment 33 32 65 65
Recurring Capital Expenditures
Tenant Improvements 90 169 343 254
Leasing Commissions and Fees 220 155 342 243
Other Capital Expenditures 296 96 518 281
----------------------- -----------------------
Total Recurring Capital Expenditures 606 420 1,203 778
Adjusted Funds from Operations $ 10,492 $ 5,976 $ 20,601 $ 12,492
======================= =======================
Increase 75.6% 64.9%
AFFO per share (diluted) $ 0.31 $ 0.29 $ 0.64 $ 0.61
Increase 6.9% 4.9%
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Weighted Average Diluted Shares 33,967 20,596 31,999 20,472
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Page 6
EQUITY ONE, INC.
CONSOLIDATED BALANCE SHEETS
as of June 30, 2002 and December 31, 2001
(in thousands, except per share data)
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JUN 30, 2002 DEC 31, 2001
--------------- ---------------
Assets
Rental Property
Land, Buildings and Equipment $ 636,519 $ 605,820
Building Improvements 19,638 17,513
Land Held for Development 31,686 23,420
Construction in Progress 8,571 5,416
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Rental Property 696,414 652,169
Less: Accumulated Depreciation (34,121) (28,031)
Property Held for Sale 10,131 3,549
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Rental Property, Net 672,424 627,687
Cash and Cash Equivalents 989 906
Cash Held in Escrow 2,311 1,715
Securities Available for Sale 1,709 1,681
Accounts and Other Receivables, Net 3,188 5,564
Notes Receivable 10,881 9,697
Deposits 9,034 6,219
Prepaid and Other Assets 1,538 2,161
Deferred Expenses, Net 4,441 3,883
Investments in Joint Ventures 7,740 7,742
Goodwill, Net 2,276 1,281
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Total Assets $ 716,531 $ 668,536
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Liabilities and Shareholders' Equity
Liabilities
Mortgage Notes Payable $ 312,918 $ 345,047
Revolving Credit Facilities 35,893 27,409
Accounts Payable and Accrued Expenses 12,435 8,987
Tenant Security Deposits 4,162 4,090
Deferred Rental Income 245 766
Due to Related Parties 0 101
Minority Interest in Equity of Consolidated Subsidiaries 3,869 3,869
--------------- ---------------
Total Liabilities 369,522 390,269
--------------- ---------------
Shareholders' Equity
Common Stock 343 288
Additional Paid-in Capital 352,424 283,619
Retained Earnings 6,379 1,808
Accumulated Other Comprehensive Loss (6) (34)
Unamortized Restricted Stock Compensation (5,019) (1,836)
Note Receivable From Issuance of Common Stock (7,112) (5,578)
--------------- ---------------
Total Shareholders' Equity 347,009 278,267
--------------- ---------------
Total Liabilities and Shareholders' Equity $ 716,531 $ 668,536
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Page 7
EQUITY ONE, INC.
DEBT SUMMARY
as of June 30, 2002
(in thousands)
LOAN CLOSING/ ORIGINAL
REFINANCING LOAN MATURITY JUN 30, 2002
PROPERTY DATE (1) AMOUNT (2) DATE RATE (3) BALANCE
- ---------------------------- -------------- ----------- -------- ------------- -------------
FIXED RATE MORTGAGE DEBT
Eustis Square (4) 10/22/93 $ 5,942 07/01/02 9.000% $ 4,344
Forest Edge (5) 05/01/96 2,099 10/01/02 6.900% 1,594
Lantana Village 02/19/98 4,400 02/15/05 6.950% 3,886
Benchmark Crossing 09/21/01 3,483 07/01/05 9.250% 3,430
Sterling Plaza 09/20/01 4,197 09/01/05 8.750% 4,130
Green Oaks 09/21/01 3,189 10/01/05 8.375% 3,137
Townsend Square 09/20/01 5,005 10/01/05 8.500% 4,956
Melbourne Plaza 09/21/01 1,843 11/01/05 8.375% 1,813
Northwest Crossing 09/21/01 1,754 11/01/05 8.375% 1,725
Oak Hill 12/07/95 2,500 01/01/06 7.625% 2,060
Walden Woods 01/01/99 2,835 08/01/06 7.875% 2,542
Big Curve 09/21/01 5,683 10/01/06 9.190% 5,606
Highland Square 09/21/01 4,234 11/01/06 8.870% 4,176
Park Northern 09/21/01 2,484 12/01/06 8.370% 2,421
University Mall 09/21/01 12,874 12/01/06 8.440% 12,760
Rosemeade 09/21/01 3,319 12/01/07 8.295% 3,275
Colony Plaza 09/21/01 3,884 01/01/08 7.540% 3,070
Parkwood (6) 09/21/01 6,371 01/01/08 7.280% 6,315
Richwood (6) 09/21/01 3,282 01/01/08 7.280% 3,253
Commonwealth 02/15/98 3,300 02/15/08 7.000% 2,916
Mariners Crossing 09/01/00 3,516 03/01/08 7.080% 3,447
Pine Island/Ridge Plaza 08/01/99 26,234 07/01/08 6.910% 25,432
Westburry (7) 09/20/01 2,336 10/01/08 7.300% 2,317
Prosperity Centre 09/20/01 7,120 02/01/09 7.875% 6,891
Shoppes of North Port 12/05/00 4,370 02/08/09 6.650% 4,245
Park Promenade 01/31/00 6,500 02/01/10 8.100% 6,386
Skipper Palms 09/21/01 3,617 03/01/10 8.625% 3,598
Jonathan's Landing 09/20/01 2,966 05/01/10 8.050% 2,946
Bluff's Square 09/20/01 10,249 06/01/10 8.740% 10,197
Kirkman Shoppes 09/20/01 9,679 06/01/10 8.740% 9,629
Ross Plaza 09/20/01 6,750 06/01/10 8.740% 6,716
Boynton Plaza 09/20/01 7,637 07/01/10 8.030% 7,591
Pointe Royale 07/28/95 6,000 07/15/10 7.950% 4,871
Plymouth Park East 1 (8) 09/20/01 159 08/01/10 8.250% 156
Plymouth Park East 2 (8) 09/20/01 477 08/01/10 8.250% 469
Plymouth Park North (8) 09/20/01 8,506 08/01/10 8.250% 8,361
Plymouth Park Story North (8) 09/20/01 391 08/01/10 8.250% 384
Plymouth Park South (8) 09/20/01 636 08/01/10 8.250% 625
Plymouth Park West (8) 09/20/01 2,542 08/01/10 8.250% 2,499
Shops at Skylake 07/06/00 16,350 08/01/10 7.650% 15,123
Minyards 09/20/01 2,586 11/01/10 8.320% 2,562
Forest Village 03/08/01 4,700 04/01/11 7.270% 4,554
Boca Village 09/20/01 8,478 05/01/11 7.200% 8,420
Sawgrass Promenade 09/20/01 8,478 05/01/11 7.200% 8,420
Plaza Del Rey 08/01/96 3,050 09/01/11 8.125% 2,287
Lake Mary 11/01/01 25,000 11/01/11 7.250% 24,871
Lake St. Charles 10/29/01 3,950 11/01/11 7.130% 3,929
Page 8
EQUITY ONE, INC.
DEBT SUMMARY
as of June 30, 2002
(in thousands)
LOAN CLOSING/ ORIGINAL
REFINANCING LOAN MATURITY JUN 30, 2002
PROPERTY DATE (1) AMOUNT (2) DATE RATE (3) BALANCE
- ---------------------------- -------------- ----------- -------- ------------- -------------
Marco Town Center 12/31/01 9,000 01/01/12 6.700% 8,943
Summerlin Square 01/25/99 5,000 02/01/14 6.750% 4,279
Bird Ludlum 02/19/97 13,400 02/15/15 7.680% 11,123
West Lakes Plaza 05/22/97 5,902 06/01/16 7.875% 5,079
Atlantic Village 10/30/98 5,000 11/01/18 6.850% 4,524
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TOTAL FIXED RATE MORTGAGE DEBT (52 LOANS) $303,256 6.43 7.76% $288,283
(WTD-AVG MATURITY) (WTD-AVG RATE)
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VARIABLE RATE MORTGAGE DEBT
Comerica/4 property loan (9) 09/20/01 24,635 02/28/04 LIBOR + 150 24,635
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TOTAL VARIABLE RATE MORTGAGE DEBT $24,635 $24,635
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TOTAL MORTGAGE NOTES $327,891 $312,918
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REVOLVING CREDIT FACILITIES
City National Bank (10) 02/04/99 $ 10,825 05/04/03 LIBOR + 225 $ 808
Bank Leumi (11) 09/17/01 30,000 03/17/03 LIBOR + 125 9,000
Wells Fargo (12) 02/27/02 29,400 02/26/05 LIBOR + 115 26,085
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TOTAL REVOLVING CREDIT FACILITIES $70,225 $35,893
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TOTAL DEBT $348,811
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MATURITY SCHEDULE SCHEDULED BALLOON
BY YEAR AMORTIZATION PAYMENTS (13) TOTAL Includes Revolving Credit Facility Balances
----------------------------------------------------------------------------
2002 (July 1 to year-end) $ 2,708 $ 5,912 $ 8,620
2003 5,719 9,808 15,527
2004 6,145 24,635 30,780
2005 6,380 47,339 53,719
2006 6,233 26,470 32,703
2007 6,066 2,864 8,930
2008 5,745 42,217 47,962
2009 5,335 7,663 12,998
2010 4,505 68,564 73,069
2011 3,180 44,410 47,590
Thereafter 9,633 7,280 16,913
----------------------------------------------------------------------------
TOTAL $61,649 $287,162 $348,811
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Page 9
EQUITY ONE, INC.
DEBT SUMMARY
as of June 30, 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 June 30, 2002.
(4) Discussions are ongoing with the lender regarding an extension of the term
to this loan.
(5) This loan was paid off in full without penalty on July 17, 2002.
(6) 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.
(7) This loan was assigned on July 16, 2002 to the buyer of this property.
(8) 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.
(9) This Comerica facility is secured by Grogans Mill ($7,995), Steeplechase
($6,305), Mission Bend ($6,370) and Beechcrest ($3,965). The rate was
reduced to LIBOR + 150 from LIBOR + 200 on June 12, 2002.
(10) The CNB Line was authorized to $10,825 as of June 30, 2002, and is secured
by Mandarin Mini-storage, Skylake Phase III land, Montclair Apartments,
Beauclerc Village and East Bay Plaza. We have two, 364-day extension
options for a final ultimate maturity of 5/2/2005.
(11) 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 exercised an option to extend the maturity of the Leumi
facility to 3/17/03.
(12) 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 June 30,
2002, the rate was LIBOR + 115. We are in the process of securing a $16,400
increase in the line to $46,000.
(13) Represents the entire principal balance of a maturing loan on the maturity
date.
Page 10
YEAR TOTAL # OF TENANTS
BUILT/ SQUARE PERCENT ---------------------
PROPERTY CITY RENOVATED FOOTAGE OCCUPIED OCCP'D VACANT
-------- ---- --------- ------- -------- ------ ------
FLORIDA (48)
NORTH FLORIDA (9)
Atlantic Village Atlantic Beach 1984 / 1998 100,559 96.2% 24 1
Beauclerc Village Jacksonville 1962 / 1988 70,429 100.0% 12 0
Commonwealth Jacksonville 1984 / 1998 81,467 98.4% 15 1
Forest Village Tallahassee 2000 71,526 93.3% 16 1
Ft. Caroline Jacksonville 1985 / 1995 74,546 94.0% 10 4
Losco Jacksonville 2000 8,700 74.7% 6 1
Mandarin Landing Jacksonville 1976 / 2000 141,565 94.5% 33 4
Monument Point Jacksonville 1985 / 1997 76,628 97.7% 12 1
Oak Hill Jacksonville 1985 / 1997 78,492 95.1% 18 1
CENTRAL FLORIDA (8)
Eckerds Leesburg Leesburg 2000 12,739 100.0% 1 0
Eastwood Orlando 1997 67,137 100.0% 13 0
Eustis Square Eustis 1983 / 1997 126,791 83.2% 17 10
Forest Edge Orlando 1983 / 1997 68,631 100.0% 12 0
Kirkman Shoppes Orlando 1973 88,820 100.0% 32 0
Lake Mary Orlando 1988 / 2001 339,084 98.9% 64 3
Park Promenade Orlando 1987 / 2000 125,818 97.9% 26 1
Walden Woods Plant City 1985 / 1998 75,336 96.3% 10 2
FLORIDA TREASURE COAST REGION (6)
Bluffs Square Jupiter 1986 132,395 97.9% 46 5
Cashmere Corners Port St. Lucie 2001 89,234 100.0% 18 0
Eckerds Melbourne Melbourne 2001 10,908 100.0% 1 0
Jonathan's Landing Jupiter 1997 26,820 100.0% 12 0
Ryanwood Vero Beach 1987 114,925 93.9% 30 3
Salerno Stuart 1987 58,804 100.0% 17 0
FLORIDA WEST COAST (8)
East Bay Plaza Largo 1985 / 1997 85,426 54.7% 17 5
Lake St. Charles Tampa 1999 57,015 100.0% 8 0
Marco Town Center Marco Island 2001 109,430 88.9% 34 11
Mariners Crossing Spring Hill 1989 / 1999 85,507 96.5% 13 2
Ross Plaza Tampa 1984 / 1996 85,359 90.4% 18 2
Shoppes of North Port North Port 1991 84,705 97.5% 20 2
Skipper Palms Tampa 1984 89,944 100.0% 17 0
Summerlin Square Fort Myers 1986 / 1998 109,156 89.2% 22 6
SUPERMARKET ANCHOR *
------------------------------- AVERAGE
OWNED SHADOW NAME BASE RENT
PROPERTY SF SF EXP DATE OTHER ANCHOR TENANTS PER OCC SF
-------- ----- ------ -------- -------------------- ----------
FLORIDA (48)
NORTH FLORIDA (9)
Atlantic Village 39,795 Publix Jo-Ann Fabrics $ 10.15
(10/31/2008)
Beauclerc Village Big Lots, Goodwill, Beall's Outlet 7.59
Commonwealth 48,997 Winn-Dixie 8.08
(2/28/2018)
Forest Village 37,866 Publix 10.26
(4/30/2020)
Ft. Caroline 45,500 Winn-Dixie Eckerds* (Bealls Outlet) 7.33
(5/31/2015)
Losco 45,820 Winn-Dixie 18.76
Mandarin Landing 34,400 Publix Office Depot, Eckerds 8.91
(2/14/2007)
Monument Point 46,772 Winn-Dixie Eckerds 6.33
(3/27/2005)
Oak Hill 39,795 Publix Walgreens* (Bonus Dollar) 6.73
(5/11/2005)
CENTRAL FLORIDA (8)
Eckerds Leesburg Eckerds 26.55
Eastwood 42,075 Publix 10.91
(11/1/2017)
Eustis Square 38,520 Publix Beall's, Walgreens (Beall's Outlet) 6.70
(11/30/2004)
Forest Edge 42,075 Winn-Dixie Autozone 7.12
(8/8/2007)
Kirkman Shoppes Eckerds 17.64
Lake Mary 63,139 Albertson's K-Mart, Euro Fitness, Sun Star 11.59
(6/30/2012) Theatres
Park Promenade 55,000 Publix Orange County Library, Blockbuster 9.30
(2/9/2007)
Walden Woods 46,636 Winn-Dixie* Walgreens 6.68
(11/30/08)
FLORIDA TREASURE COAST REGION (6)
Bluffs Square 39,795 Publix Walgreens 11.22
(10/22/2006)
Cashmere Corners 59,448 Albertson's 7.82
(4/30/2025)
Eckerds Melbourne Eckerds 20.45
Jonathan's Landing 53,850 Albertson's Blockbuster 17.49
Ryanwood 39,795 Publix 8.95
(3/23/2017)
Salerno 31,503 Winn-Dixie Eckerds 6.80
(9/21/2007)
WEST COAST FLORIDA (8)
East Bay Plaza 53,000 Albertsons 9.75
Lake St. Charles 46,295 Kash N' Karry 9.65
(6/30/2019)
Marco Town Center 27,887 Publix 16.09
(1/31/2018)
Mariners Crossing 48,315 Kash 'N Karry 8.03
(4/30/2020)
Ross Plaza Walgreens, Ross Dress for Less 9.86
Shoppes of North Port 48,890 Publix Beall's Outlet 9.44
(12/11/2011)
Skipper Palms 53,012 Winn-Dixie 8.20
(5/31/2016)
Summerlin Square 45,500 Winn-Dixie Eckerds 10.63
(6/4/2006)
Page 11
YEAR TOTAL # OF TENANTS
BUILT/ SQUARE PERCENT -----------------
PROPERTY CITY RENOVATED FOOTAGE OCCUPIED OCCP'D VACANT
-------- ---- --------- ------- -------- ------ ------
SOUTH FLORIDA / ATLANTIC COAST (20)
Bird Ludlum Miami 1988 / 1998 192,282 92.0% 48 2
Boca Village Boca Raton 1978 93,428 96.6% 21 2
Boynton Plaza Boynton Beach 1978 / 1999 99,324 95.6% 27 3
Lantana Village Lantana 1976 / 1999 176,110 98.3% 24 2
Meadows Miami 1997 75,524 90.7% 16 5
Oakbrook Palm Beach Gardens 1974 / 2000 225,073 84.7% 18 16
Pine Island Davie 1983 / 1999 254,907 99.3% 46 1
Plaza Del Rey Miami 1985 / 1996 50,146 83.7% 20 3
Point Royale Miami 1970 / 2000 209,863 94.6% 24 2
Pompano Pompano Beach 1968 / 2001 80,697 100.0% 1 0
Prosperity Centre Palm Beach Gardens 1993 122,106 100.0% 9 0
Ridge Plaza Davie 1984 / 1999 155,204 96.7% 26 3
Sawgrass Promenade Deerfield Beach 1982 / 1998 107,092 99.1% 28 1
Shops at Skylake North Miami Beach 1999/2000-01 174,199 98.5% 44 3
University Mall Ft. Lauderdale 1973 318,437 17.7% 21 23
West Lakes Plaza Miami 1984 / 2000 100,747 100.0% 27 0
Westburry Miami 1988 33,706 100.0% 21 0
(sold on July 16, 2002)
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL SHOPPING CENTERS FLORIDA (49) 5,216,741 90.3% 1,015 132
- -----------------------------------------------------------------------------------------------------------------------------------
TEXAS (32)
HOUSTON (15)
Barker Cypress Houston 2001 66,945 85.4% 10 3
Beechcrest Houston 1981 / 2001 90,797 100.0% 15 0
Benchmark Crossing Houston 1986 58,384 100.0% 5 0
Bissonnet Houston 1999 15,542 100.0% 8 0
Colony Plaza Sugarland 1997 26,513 84.4% 12 3
Copperfield Houston 1994 160,695 46.3% 27 8
Grogan's Mill The Woodlands 1986 118,398 100.0% 26 0
Hedwig Houston 1974 69,504 100.0% 13 0
Highland Square Sugarland 1998 64,171 99.7% 26 1
Market at First Colony Sugarland 1988 107,301 98.4% 35 1
Mason Park Katy 1998 160,047 74.9% 32 8
Mission Bend Houston 1980 / 1999 131,575 93.2% 24 2
Spring Shadows Houston 1999 39,611 96.9% 15 1
Steeplechase Jersey Village 1985 105,152 98.4% 25 1
Woodforest Houston 1991 12,741 100.0% 4 0
SUPERMARKET ANCHOR *
------------------------------- AVERAGE
OWNED SHADOW NAME BASE RENT
PROPERTY SF SF EXP DATE OTHER ANCHOR TENANTS PER OCC SF
-------- ----- ------ -------- -------------------- ----------
SOUTH FLORIDA / ATLANTIC COAST (18)
Bird Ludlum 44,400 Winn-Dixie Eckerds, Blockbuster 14.42
(12/31/2007)
Boca Village 36,000 Publix Eckerds 14.07
(3/31/2007)
Boynton Plaza 37,664 Publix Eckerds 10.01
(8/31/2003)
Lantana Village 39,473 Winn-Dixie K-Mart, Rite Aid* (Dollar Store) 6.34
(2/15/2011)
Meadows 47,955 Publix 11.50
(7/9/2017)
Oakbrook 44,400 Publix Eckerds, Roly's Bistro 8.10
(10/31/2020) Jacobson Department Store.
Pine Island 39,943 Publix Home Depot Expo, Rite Aid* (Bealls $9.09
(11/30/2013) Outlet)
Plaza Del Rey Navarro Pharmacy 12.55
Point Royale 45,350 Winn-Dixie Best Buy, Eckerds (Linen 6.43
(2/18/2011) Supermarket)
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 8.59
Security Bank, Uncle Funny's,
Round Up
Sawgrass Promenade 36,464 Publix Walgreens, Blockbuster 11.38
(11/30/2004)
Shops at Skylake 51,420 Publix Goodwill, Blockbuster 15.22
(7/31/2019)
University Mall Eckerds 11.34
West Lakes Plaza 46,216 Winn-Dixie Navarro Pharmacy 10.61
(10/31/2016)
Westburry 16.27
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL SHOPPING CENTERS FLORIDA (43) 1,490,295 152,670 $10.20
- -----------------------------------------------------------------------------------------------------------------------------------
TEXAS (32)
HOUSTON (15)
Barker Cypress 41,320 H.E.B. 12.13
(01/31/2014)
Beechcrest 40,345 Randalls* (Viet Ho) Walgreens* 8.92
(6/24/2016)
Benchmark Crossing Bally's Fitness 12.13
Bissonnet 63,000 Kroger Blockbuster 14.39
Colony Plaza 19.29
Copperfield JoAnn's Fabrics 11.89
Grogan's Mill 56,558 Randall's* Petco 12.06
(6/24/2016)
Hedwig Warehouse Music, Ross Dress 13.68
for Less
Highland Square 16.37
Market at First Colony 62,000 Kroger TJ Maxx, Eckerds 15.48
Mason Park 58,890 Kroger Walgreens* (Eloise Collectibles) 11.85
Palais Royal, Petco
Mission Bend 46,112 Randall's Factory 2 U Stores, Inc.* 8.36
(6/24/2016)
Spring Shadows 14.72
Steeplechase 56,208 Randall's 11.16
(6/24/2016)
Woodforest 16.10
Page 12
YEAR TOTAL # OF TENANTS
BUILT/ SQUARE PERCENT -----------------
PROPERTY CITY RENOVATED FOOTAGE OCCUPIED OCCP'D VACANT
-------- ---- --------- ------- -------- ------ ------
DALLAS (14)
Green Oaks Arlington 1983 65,094 71.3% 22 11
Melbourne Plaza Hurst 1983 47,517 80.0% 13 5
Minyards Garland 2000 65,295 100.0% 2 0
Northwest Crossing Garland 1983 33,366 87.4% 15 3
Parkwood Plano 1985 81,590 87.1% 18 2
Plymouth Park East Irving 1970 56,435 97.3% 9 1
Plymouth Park North Irving 1970 447,215 51.9% 39 20
Plymouth Park South Irving 1970 49,102 85.8% 5 2
Plymouth Park West Irving 1970 178,930 88.1% 13 2
Richwood Richardson 1984 54,872 93.2% 25 3
Rosemeade Carrollton 1986 50,504 88.7% 15 3
Sterling Plaza Irving 1989 65,205 96.7% 15 1
Townsend Square Desoto 1990 142,978 82.3% 31 7
Village Park Arlington 1988 44,387 40.5% 5 6
San Antonio (3)
Bandera Festival San Antonio 1989 189,438 95.7% 26 6
Blanco Village San Antonio 2000 108,325 98.6% 15 1
Wurzbach San Antonio 1979 59,771 100.0% 3 0
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL SHOPPING CENTERS TEXAS (32) 2,967,400 82.7% 548 101
- -----------------------------------------------------------------------------------------------------------------------------------
ARIZONA (3)
Big Curve Yuma 1969 / 1996 126,402 95.6% 29 3
Park Northern Phoenix 1982 / 1996 126,852 81.9% 18 9
Southwest Walgreens Phoenix 1975 / 1998 93,518 82.9% 17 1
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL SHOPPING CENTERS ARIZONA (3) 346,772 87.2% 64 13
- -----------------------------------------------------------------------------------------------------------------------------------
TENNESSEE (1)
McMinn Plaza Athens 1982 / 1994 107,200 90.8% 9 1
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL SHOPPING CENTERS TENNESSEE (1) 107,200 90.8% 9 1
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL SHOPPING CENTERS (79) 8,638,113 87.6% 1,636 247
- -----------------------------------------------------------------------------------------------------------------------------------
OTHER COMMERCIAL PROPERTIES (2)
El Novillo Miami Beach, FL 1970 / 2000 10,000 100.0% 1 0
Epsilon W. Palm Beach, FL 1925 / 1997 18,707 54.6% 4 1
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL SHOPPING & COMMERCIAL PPTY (82) 8,666,820 87.5% 1,641 248
- -----------------------------------------------------------------------------------------------------------------------------------
Mandarin Mini-storage Jacksonville, FL 1982 52,880 98.9% 528 6
Plaza Alegre Miami, FL 2002 Development
Coral Way N.E. Miami, FL 2002 Development
Homestead Homestead, FL Future Development
- -----------------------------------------------------------------------------------------------------------------------------------
GRAND TOTAL (86) 8,719,700 87.6% 2,169 254
- -----------------------------------------------------------------------------------------------------------------------------------
SUPERMARKET ANCHOR *
------------------------------- AVERAGE
OWNED SHADOW NAME BASE RENT
PROPERTY SF SF EXP DATE OTHER ANCHOR TENANTS PER OCC SF
-------- ----- ------ -------- -------------------- ----------
DALLAS (15)
Green Oaks 58,000 Kroger 11.45
Melbourne Plaza 11.28
Minyards 58,695 Minyards/Sack N Save 6.12
(12/31/2029)
Northwest Crossing Blockbuster 10.93
Parkwood 62,000 Albertsons Planet Pizza 13.39
Plymouth Park East 42,130 Kroger 4.10
(11/30/2013)
Plymouth Park North Blockbuster, Dollar General, Thrift 7.23
Store, Pos Office, Chateau Theatre,
Levines
Plymouth Park South Betcha Bingo 6.86
Plymouth Park West Bargain City, Tok Won Kim 4.52
Richwood 61,877 Albertsons Blockbuster 12.20
Rosemeade 58,900 Kroger Gold's Gym, Blockbuster 12.94
Sterling Plaza Bank One, Warehouse Entertainment 14.29
Townsend Square 60,349 Albertsons Beall's, Victory Gym, Tutor Time 8.99
Village Park 17.63
San Antonio (2)
Bandera Festival Beall's, Eckerds*, Blockbuster, 8.42
K-Mart (closed on July 1, 2002)
Blanco Village 74,627 H.E.B. 15.60
(4/30/2015)
Wurzbach 52,957 Albertsons* 2.86
(12/31/2004)
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL SHOPPING CENTERS TEXAS (32) 468,952 485,016 $10.42
- -----------------------------------------------------------------------------------------------------------------------------------
ARIZONA (3)
Big Curve 60,000 Albertsons Walgreens, Miller's Outpost 9.57
Park Northern 51,511 Safeway Bealls, Showbiz Pizza 6.25
(5/31/2003)
Southwest Walgreens 27,064 Food City Walgreens 7.93
(5/31/2005)
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL SHOPPING CENTERS ARIZONA (3) 78,575 60,000 $8.01
- -----------------------------------------------------------------------------------------------------------------------------------
TENNESSEE (1)
McMinn Plaza 60,000 Ingles Fred's Stores 6.75
(1/30/2019)
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL SHOPPING CENTERS TENNESSEE (1) 60,000 0 $6.75
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL SHOPPING CENTERS (85) 2,097,822 697,686 $10.10
- -----------------------------------------------------------------------------------------------------------------------------------
OTHER COMMERCIAL PROPERTIES (2)
El Novillo Jumbo Buffet 13.67
Epsilon Dax Bar & Grill 16.24
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL SHOPPING & COMMERCIAL PPTY (87) 2,097,822 697,686 $10.12
- -----------------------------------------------------------------------------------------------------------------------------------
Mandarin Mini-storage
Plaza Alegre
Coral Way N.E.
Homestead
- -----------------------------------------------------------------------
GRAND TOTAL (86) 2,097,822 697,686
- -----------------------------------------------------------------------
Total Square Footage does not include shadow anchor square footage which is 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
ANNUAL MINIMUM RENT
BY LOCATION
(GRAPH)
- ------------------------------------------------------- -----------------------------------------------
REGION COUNT AMR STATE STATE TOTAL %
------ ----- --- ----- ----------- -----
NORTH FL 9 $5,652,084
CENTRAL FL 8 9,351,797
TREASURE COAST 6 4,209,450
WEST FL 8 6,548,675
SOUTH FL 19 22,316,890 FLORIDA $48,078,896 63%
- ------------------------------------------------------- -----------------------------------------------
HOUSTON 15 13,183,778
DALLAS 14 9,015,504
SAN ANTONIO 3 3,363,765 TEXAS 25,563,047 33%
- ------------------------------------------------------- -----------------------------------------------
- ------------------------------------------------------- -----------------------------------------------
AZ 3 2,421,134 ARIZONA 2,421,134 3%
- ------------------------------------------------------- -----------------------------------------------
- ------------------------------------------------------- -----------------------------------------------
TN 1 656,801 TENNESSEE 656,801 1%
- ------------------------------------------------------- -----------------------------------------------
TOTAL 86 $76,719,878 $76,719,878 100%
- ------------------------------------------------------- -----------------------------------------------
Note: Chart excludes Mandarin Mini-storage and 3 developments.
Page 14
EQUITY ONE, INC.
REAL ESTATE DEVELOPMENTS AND DISPOSITIONS
as of June 30, 2002
(in thousands, except square footage data)
- --------------------------------------------------------------------------------
REAL ESTATE DEVELOPMENTS
------------------------
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 Goodwill
Superstore, 26,000 square feet of local retail space and two out parcels.
The development is expected to cost a total of $10,000, to open in February
2003 and to yield approximately 11.5% upon stabilization in the fourth
quarter of 2003. This development is not reflected on the June 30, 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 June 30, 2002
Property Status Report, although the land parcel is listed as a property.
4) UNIVERSITY MALL
Pembroke Pines, Florida
Discussions are underway with a major home improvement chain regarding a
complete redevelopment of this property.
5) 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.
6) SALERNO VILLAGE
Stuart, Florida
We intend to redevelop this supermarket-anchored shopping center which we
purchased in May 2002. Winn Dixie, the existing supermarket, has executed a
new 20-year lease for 45,802 square feet, an increae from their current
31,503 square foot store. The redevelopment will cost approximately $5.0
million, will commence in the second quarter of 2003, and is expected to be
completed in 2004. Upon completion and including the original acquisition
cost, we expect to earn a stabilized yield of 11.5%. This development is
reflected on the June 30, 2002 Property Status Report in its current
configuration.
7) HOMESTEAD RETAIL DEVELOPMENT
Homestead, Florida
We own a 12 acre site adjacent to a master planned community in Homestead,
Florida, approximately 25 miles south of Miami. We expect to develop a
supermarket-anchored shopping center on this site in 2005. This development
is not reflected on the June 30, 2002 Property Status Report, although the
land parcel is listed as a property.
DISPOSITION ACTIVITY
--------------------
8) MONTCLAIR APARTMENTS
Miami Beach, FL
We sold the apartment building in Miami Beach, Florida on June 14, 2002 for
a price of $2,450. We realized a gain on the sale of this property in the
amount of approximately $1,000.
9) SHOPS AT WESTBURY
Miami, FL
We sold the property in Miami, Florida on July 16, 2002 for a price of
$5,200. We realized a gain on the sale of this property in the amount of
approximately $100.
Page 15
EQUITY ONE, INC.
JOINT VENTURE INVESTMENTS
as of June 30, 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 86%
leased as of 6/30/02. 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 $13,027 on 6/30/02, 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% leased as
of 6/30/02. 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,
which we have guaranteed. Equity One owns a 50.1% interest in this
property.
3) OAKS SQUARE
Gainesville, Florida
Oaks Square is a 119,355 square foot retail center that was 100% leased as
of 6/30/02. The property is encumbered by a 7.63% fixed-rate mortgage loan
with a balance of $16,710 on 6/30/02, 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 AS WE DO NOT CONSIDER OURSELVES TO BE IN CONTROL OF THE MAJOR BUSINESS
DECISIONS.
Page 16
EQUITY ONE, INC.
SHOPPING CENTER & COMMERCIAL PROPERTY TENANT CONCENTRATION SCHEDULE
as of June 30, 2002
- ------------------------------------------------------------------------------------------------------------------
% 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 18 747,101 8.6% $4,850,129 6.3% $6.49
Winn Dixie 12 535,862 6.2% 3,352,977 4.4% 6.26
Eckerds 16 165,426 1.9% 1,656,979 2.2% 10.02
Randall's 4 199,223 2.3% 1,431,823 1.9% 7.19
H.E. Butt 2 115,947 1.3% 1,398,855 1.8% 12.06
K Mart 3 257,768 3.0% 1,268,769 1.7% 4.92
Blockbuster 12 68,436 0.8% 1,068,816 1.4% 15.62
Walgreens 10 154,116 1.8% 1,063,839 1.4% 6.90
Albertsons 4 177,544 2.0% 899,820 1.2% 5.07
Kash N' Karry 2 94,610 1.1% 726,425 0.9% 7.68
- ------------------------------------------------------------------------------------------------------------------
SUB-TOTAL TOP TEN TENANTS 83 2,516,033 29.0% $17,718,432 23.1% $7.04
- ------------------------------------------------------------------------------------------------------------------
Remaining Tenants 1,558 5,067,918 58.5% 59,001,446 76.9% 11.64
- ------------------------------------------------------------------------------------------------------------------
SUB-TOTAL ALL TENANTS 1,641 7,583,951 87.5% $76,719,878 100.0% $10.12
- ------------------------------------------------------------------------------------------------------------------
Vacant 248 1,082,869 12.5% - 0.0% 0.00
- ------------------------------------------------------------------------------------------------------------------
TOTAL INCLUDING VACANT 1,889 8,666,820 100.0% $76,719,878 100.0% $8.85
- ------------------------------------------------------------------------------------------------------------------
Page 17
EQUITY ONE, INC.
SHOPPING CENTER AND COMERCIAL PROPERTY LEASE EXPIRATION SCHEDULE
as of June 30, 2002
- -----------------------------------------------------------------------------------------------------------
PERCENT AVERAGE
PERCENT OF ANNUAL
OF ANNUALIZED TOTAL MINIMUM
NUMBER TOTAL MINIMUM ANNUALIZED RENT PER
OF SQUARE SQUARE RENT AT MINIMUM SQUARE
DATE TENANTS(1) FEET FEET EXPIRATION(2) RENT FOOT
- -----------------------------------------------------------------------------------------------------------
M-T-M 21 46,991 0.5% $ 451,740 0.6% $9.61
2002 159 325,685 3.8% 4,707,537 5.9% 14.45
2003 314 861,867 9.9% 9,741,321 12.2% 11.30
2004 341 944,103 10.9% 10,700,825 13.4% 11.33
2005 304 989,820 11.4% 10,988,012 13.8% 11.10
2006 190 799,107 9.2% 9,433,895 11.8% 11.81
2007 128 673,672 7.8% 6,999,093 8.8% 10.39
2008 34 338,495 3.9% 3,949,204 4.9% 11.67
2009 28 178,235 2.1% 2,425,809 3.0% 13.61
2010 40 350,509 4.0% 3,241,018 4.1% 9.25
2011 22 419,500 4.8% 3,167,042 4.0% 7.55
Thereafter 59 1,655,967 19.1% 14,047,828 17.6% 8.48
- -----------------------------------------------------------------------------------------------------------
SUB-TOTAL / AVERAGE 1,640 7,583,951 87.5% $79,853,324 100.0% $10.53
- -----------------------------------------------------------------------------------------------------------
Vacant 248 1,082,869 12.5% 0 NA NA
- -----------------------------------------------------------------------------------------------------------
TOTAL / AVERAGE 1,888 8,666,820 100.0% $79,853,324 100.0% $9.21
- -----------------------------------------------------------------------------------------------------------
(GRAPHIC)
(1) Includes 12 tenants who use 0 square feet but pay rent under various usage
agreements. Excludes 1 tenant who uses 0 square feet and does not pay rent,
but makes certain other payments (i.e. CAM or RE Tax).
(2) Includes the rent from 12 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 June 30, 2002
- --------------------------------------------------------------------------------
DAILY HIGH-LOW-CLOSE AND
10-DAY MOVING AVERAGE
(GRAPHIC)
- --------------------------------------------------------------------------------
DAILY-TRADING VOLUME AND
10-DAY MOVING AVERAGE
(GRAPHIC)
*Data obtained from Yahoo Chart Services
Page 19