JACKSONVILLE, FL-Regency Centers Corp. reports that it posted a net loss of $37.1 million in the fourth quarter and a net loss of $6.7 million for the full year 2012.
The locally-based REIT, which owns more than 50 million sf of retail space, notes that its fourth quarter and full year net loss included a $50-million “impairment” recognized for the nearly 704,000-sf Deer Springs Town Center, a wholly owned Regency shopping center located in Las Vegas.
For the fourth quarter of 2011, Regency posted net income of $8.1 million and for the full year, the firm recorded net income of $31.7 million in 2011.
Some of the highlights of the firm’s full year operations included a 94.4% leased rate at all its properties, a 4% increase in net operating income and 1,800 new and renewal lease transactions totaling 5.1 million sf. See company announcement on Business Wire.