“We are extremely proud of how our merger integration has progressed and very pleased with all the work RealFoundations has provided. The combined Regency and RF teams made extraordinary progress integrating the companies in a very short period of time. It is hard to imagine us achieving these timelines without the benefit of RF.”
— Lisa Palmer, President and CFO, Regency Centers
Areas of Focus
- Designing a roadmap for synergy attainment and tracking support,
- Facilitating cross-department communication and impact identification,
- Developing a data conversion and systems migration approach,
- Facilitating vendor and licensing contract rationalization,
- Coordinating auditor risk and legal communications,
- Facilitating company office restructuring and employee rationalization, and
- Coordinating and supporting resource onboarding and training.
Value-Add Solutions
- Integration of operating model, processes and technology,
- Implementation of an updated staffing model for the combined entity, including reporting structures and office locations,
- Development of functional, technical and data conversion requirement documents,
- Creation of a program with 24 projects within six work streams to establish multi-work streams for better project management and execution,
- Facilitation of cross-department coordination and communication,
- Identification and resolution of application conversion roadblocks,
- Conversion of core modules within JD Edwards EnterpriseOne,
- Conversion of data for various modules in JD Edwards (including historical AR), and
- Tracking, measurement and reporting of identified synergies.
Realized Benefits
- The merger integration formed a combined company with a total market cap of ~$16 B, resulting in inclusion in the S&P 500 Index,
- The merged portfolio included 429 properties comprising 59 million square feet of gross leasable area (GLA),
- The company realized the anticipated $27 million in G&A synergies,
- The merger was regarded as one of the fastest REIT mergers, measured from announcement to close since 2011, and
- The company now benefits from a streamlined, integrated technology landscape following the sunsetting of disparate, ancillary systems.
Connect with Us
Contact us to learn more about how RealFoundations can deliver long-term benefits to your organization. Let’s Start the Conversation.
About Equity One
Equity One, Inc. was a real estate investment trust that invested in shopping centers in New York, Boston, Washington D.C., San Francisco, Los Angeles, Atlanta and Florida. As of December 31, 2016, it owned 122 properties comprising 12.8 million square feet. In March 2017, the company was acquired by Regency Centers.
About Regency Centers
Regency Centers is the preeminent national owner, operator and developer of neighborhood and community shopping centers. Regency Centers has developed 227 shopping centers since 2000, representing an investment at completion of more than $3.5 billion. Operating as a fully integrated real estate company, Regency Centers is a qualified real estate investment trust that is self-administered and self-managed, and a member of the S&P 500 index.
About RealFoundations
RealFoundations (RF) is the world’s foremost professional services firm focused solely on the real estate industry. Through our delivery of Management Consulting and Managed Services, we help companies that develop, own, operate, service or invest in real estate make better, more profitable decisions. We are proud partners to over 500 real estate companies around the globe, providing accelerated solutions that solve some of real estate’s most complex challenges. We Make Real Estate Run Better.
