Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
ROCHE JOHN
   2. Issuer Name and Ticker or Trading Symbol
NEW PLAN EXCEL REALTY TRUST INC [NXL] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Exec VP and CFO
(Last)
(First)
(Middle)
C/O NEW PLAN EXCEL REALTY TRUST, INC., 420 LEXINGTON AVENUE		 3. Date of Earliest Transaction (Month/Day/Year)
12/08/2005
(Street)

NEW YORK, NY 10170		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 12/08/2005   M   33,118 A $ 12.79 51,315 D  
Common Stock 12/08/2005   S   2,600 D $ 24.15 48,715 D  
Common Stock 12/08/2005   S   2,000 D $ 24.16 46,715 D  
Common Stock 12/08/2005   S   1,400 D $ 24.17 45,315 D  
Common Stock 12/08/2005   S   200 D $ 24.18 45,115 D  
Common Stock 12/08/2005   S   600 D $ 24.19 44,515 D  
Common Stock 12/08/2005   S   1,300 D $ 24.2 43,215 D  
Common Stock 12/08/2005   S   900 D $ 24.21 42,315 D  
Common Stock 12/08/2005   S   3,700 D $ 24.22 38,615 D  
Common Stock 12/08/2005   S   1,300 D $ 24.23 37,315 D  
Common Stock 12/08/2005   S   5,400 D $ 24.24 31,915 D  
Common Stock 12/08/2005   S   4,818 D $ 24.25 27,097 D  
Common Stock 12/08/2005   S   5,500 D $ 24.26 21,597 D  
Common Stock 12/08/2005   S   3,400 D $ 22.27 18,197 D  
Common Stock 12/09/2005   M   15,000 A $ 12.79 33,197 D  
Common Stock 12/09/2005   S   1,000 D $ 24.07 32,197 D  
Common Stock 12/09/2005   S   14,000 D $ 24.05 18,197 D  

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (right to buy) $ 12.79 12/08/2005   M     33,118 05/15/2001(1) 05/14/2010 Common Stock 33,118 $ 0 15,000 D  
Stock Option (right to buy) $ 12.79 12/09/2005   M     15,000 05/15/2001(1) 05/14/2010 Common Stock 15,000 $ 0 0 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
ROCHE JOHN
C/O NEW PLAN EXCEL REALTY TRUST, INC.
420 LEXINGTON AVENUE
NEW YORK, NY 10170		       Exec VP and CFO  

Signatures

 /s/ Steven F. Siegel, attorney-in-fact   12/12/2005
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) The initial option for 150,000 shares vested with respect to 108,000 shares in five equal annual installments beginning on May 15, 2001. The option was scheduled to vest with respect to the remaining 42,000 shares on May 15, 2008, subject to accelerated vesting upon the satisfaction of certain performance criteria. Such performance criteria have been satisfied so the 42,000 shares have vested. Mr. Roche previously exercised 107,400 of the shares and, as reported on a previous Form 4, the option for the remaining 42,600 shares was adjusted to 48,118 shares on September 27, 2005.

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