Business
Regency Centers Provides COVID-19 Business Update
JACKSONVILLE, Fla. , June 01, 2020 (GLOBE NEWSWIRE) -- Regency Centers Corporation (“Regency” or the “Company”) (NASDAQ:REG) today provided a business update
About this update from Regency Centers Corporation
[{"type":"text","content":"JACKSONVILLE, Fla. , June 01, 2020 (GLOBE NEWSWIRE) -- Regency Centers Corporation (“Regency” or the “Company”) (NASDAQ:REG) today provided a business update related to COVID-19, including an update on rent collections for April and May.\n As of May 31, 2020, approximately 75% of Regency’s tenants were open based on pro-rata Annual Base Rent (“ABR”), and the Company had collected 68% and 58% of April and May pro-rata base rent, respectively. April and May Rent Collections (As of May 31, 2020) Type*Tenant Categories% of Total ABRApril Base Rent CollectedMay Base Rent CollectedEssential - Retail/ServicesGrocers, drugstores, mass merchandisers, banks, pet stores, office supplies, medical, etc.43%95%92%Essential - Restaurants 19%54%42%Quick ServiceFast food, QSRs, limited service12%59%48%Full ServiceCasual dining, table service, fine dining7%45%31%Other Retail/ServicesSoft goods, Personal Service, professional service, fitness, other38%44%28%Total Portfolio 100%68%58% * Essential retailers defined as those that supply or provide consumers and essential businesses with any basic necessary goods and services; definition varies across municipalities. For further details, please refer to the Company’s COVID-19 Business Update June 2020 presentation that can be found on its website at Investors.regencycenters.com. About Regency Centers Corporation (NASDAQ: REG) Regency Centers is the preeminent national owner, operator, and developer of shopping centers located in affluent and densely populated trade areas. Our portfolio includes thriving properties merchandised with highly productive grocers, restaurants, service providers, and best-in-class retailers that connect to their neighborhoods, communities, and customers. Operating as a fully integrated real estate company, Regency Centers is a qualified real estate investment trust (REIT) that is self-administered, self-managed, and an S&P 500 Index member. For more information, please visit RegencyCenters.com. Forward-Looking Statements Certain statements in this document regarding anticipated financial, business, legal or other outcomes including business and market conditions, outlook and other similar statements relating to Regency’s future events, developments, or financial or operational performance or results, are “forward-looking statements” made pursuant to the safe harbor provisions...