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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549



FORM 10-K

ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 2012

SIMON PROPERTY GROUP, INC.
(Exact name of registrant as specified in its charter)

Delaware   001-14469   046-268599
(State or other jurisdiction
of incorporation or organization)
  (Commission File No.)   (I.R.S. Employer
Identification No.)

225 West Washington Street
Indianapolis, Indiana 46204
(Address of principal executive offices) (ZIP Code)

(317) 636-1600
(Registrant's telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:

Title of each class
  Name of each exchange
on which registered
 
Common stock, $0.0001 par value   New York Stock Exchange
83/8% Series J Cumulative Redeemable Preferred Stock, $0.0001 par value   New York Stock Exchange

Securities registered pursuant to Section 12(g) of the Act: None



            Indicate by check mark if the Registrant is a well-known seasoned issuer (as defined in Rule 405 of the Securities Act). Yes ý No o

            Indicate by check mark if the Registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes o No ý

            Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ý No o

            Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ý No o

            Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of Registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. o

            Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller company. See the definitions of "large accelerated filer," "accelerated filer," and "smaller reporting company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer ý   Accelerated filer o   Non-accelerated filer o   Smaller reporting company o
        (Do not check if a smaller
reporting company)
   

            Indicate by checkmark whether the Registrant is a shell company (as defined in rule 12-b of the Act). Yes o No ý

            The aggregate market value of shares of common stock held by non-affiliates of the Registrant was approximately $46,364 million based on the closing sale price on the New York Stock Exchange for such stock on June 29, 2012.

            As of January 31, 2013, Simon Property Group, Inc. had 313,664,635 and 8,000 shares of common stock and Class B common stock outstanding, respectively.



Documents Incorporated By Reference

            Portions of the Registrant's Annual Report to Stockholders are incorporated by reference into Parts I, II and IV; and portions of the Registrant's Proxy Statement in connection with its 2013 Annual Meeting of Stockholders are incorporated by reference in Part III.


Table of Contents


Simon Property Group, Inc. and Subsidiaries
Annual Report on Form 10-K
December 31, 2012

TABLE OF CONTENTS

Item No.    
  Page No.  
Part I  

1.

 

Business

 

 

3

 
1A.   Risk Factors     8  
1B.   Unresolved Staff Comments     12  
2.   Properties     13  
3.   Legal Proceedings     45  
4.   Mine Safety Disclosures     45  

Part II

 

5.

 

Market for the Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities

 

 

46

 
6.   Selected Financial Data     47  
7.   Management's Discussion and Analysis of Financial Condition and Results of Operations     47  
7A.   Qualitative and Quantitative Disclosure About Market Risk     47  
8.   Financial Statements and Supplementary Data     47  
9.   Changes in and Disagreements with Accountants on Accounting and Financial Disclosure     47  
9A.   Controls and Procedures     47  
9B.   Other Information     47  

Part III

 

10.

 

Directors, Executive Officers and Corporate Governance

 

 

48

 
11.   Executive Compensation     48  
12.   Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters     48  
13.   Certain Relationships and Related Transactions and Director Independence     48  
14.   Principal Accountant Fees and Services     48  

Part IV

 

15.

 

Exhibits, and Financial Statement Schedules

 

 

49

 

Signatures

 

 

50

 

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Part I

Item 1.    Business

            Simon Property Group, Inc., or Simon Property, is a Delaware corporation that operates as a self-administered and self-managed real estate investment trust, or REIT, under the Internal Revenue Code of 1986, as amended, or the Internal Revenue Code. REITs will generally not be liable for federal corporate income taxes as long as they continue to distribute in excess of 100% of their taxable income. Simon Property Group, L.P., or the Operating Partnership, is our majority-owned partnership subsidiary that owns all of our real estate properties and other assets. In this discussion, the terms "we", "us" and "our" refer to Simon Property, the Operating Partnership, and its subsidiaries.

            We own, develop and manage retail real estate properties, which consist primarily of malls, Premium Outlets®, The Mills®, and community/lifestyle centers. As of December 31, 2012, we owned or held an interest in 317 income-producing properties in the United States, which consisted of 160 malls, 63 Premium Outlets, 68 community/lifestyle centers, 13 Mills and 13 other shopping centers or outlet centers in 38 states and Puerto Rico. We also have reinstituted redevelopment and expansion initiatives with renovation and expansion projects currently underway at 24 properties in the U.S. with 56 new anchor and big box tenants having opened in 2012 and an additional 30 scheduled to open in 2013. Internationally, as of December 31, 2012, we had ownership interests in eight Premium Outlets in Japan, two Premium Outlets in South Korea, one Premium Outlet in Mexico, and one Premium Outlet in Malaysia. Additionally, as of December 31, 2012, we owned a 28.9% equity stake in Klépierre SA, or Klépierre, a publicly traded, Paris-based real estate company, which owns, or has an interest in, more than 260 shopping centers located in 13 countries in Europe.

            For a description of our operational strategies and developments in our business during 2012, see the "Management's Discussion and Analysis of Financial Condition and Results of Operations" section of the 2012 Annual Report to Stockholders filed as Exhibit 13.1 to this Form 10-K.

Other Policies

            The following is a discussion of our investment policies, financing policies, conflict of interest policies and policies with respect to certain other activities. One or more of these policies may be amended or rescinded from time to time without a stockholder vote.

            While we emphasize equity real estate investments, we may also provide secured financing to or invest in equity or debt securities of other entities engaged in real estate activities or securities of other issuers. However, any of these investments would be subject to the percentage ownership limitations and gross income tests necessary for REIT qualification. These REIT limitations mean that we cannot make an investment that would cause our real estate assets to be less than 75% of our total assets. We must also derive at least 75% of our gross income directly or indirectly from investments relating to real property or mortgages on real property, including "rents from real property," dividends from other REITs and, in certain circumstances, interest from certain types of temporary investments. In addition, we must also derive at least 95% of our gross income from such real property investments, and from dividends, interest and gains from the sale or dispositions of stock or securities or from other combinations of the foregoing.

            Subject to REIT limitations, we may invest in the securities of other issuers in connection with acquisitions of indirect interests in real estate. Such an investment would normally be in the form of general or limited partnership or membership interests in special purpose partnerships and limited liability companies that own one or more properties. We may, in the future, acquire all or substantially all of the securities or assets of other REITs, management companies or similar entities where such investments would be consistent with our investment policies.

            Because our REIT qualification requires us to distribute at least 90% of our taxable income, we regularly access the debt markets to raise the funds necessary to finance acquisitions, develop and redevelop properties, and refinance maturing debt. We must comply with the covenants contained in our financing agreements that limit our ratio of debt to total assets or market value, as defined. For example, the Operating Partnership's line of credit and the indentures for the Operating Partnership's debt securities contain covenants that restrict the total amount of debt of the Operating Partnership to 65%, or 60% in relation to certain debt, of total assets, as defined under the related

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arrangement, and secured debt to 50% of total assets. In addition, these agreements contain other covenants requiring compliance with financial ratios. Furthermore, the amount of debt that we may incur is limited as a practical matter by our desire to maintain acceptable ratings for our equity securities and the debt securities of the Operating Partnership. We strive to maintain investment grade ratings at all times, but we cannot assure you that we will be able to do so in the future.

            If our Board of Directors determines to seek additional capital, we may raise such capital by offering equity or debt securities, creating joint ventures with existing ownership interests in properties, entering into joint venture arrangements for new development projects, retaining cash flows or a combination of these methods. If the Board of Directors determines to raise equity capital, it may, without stockholder approval, issue additional shares of common stock or other capital stock. The Board of Directors may issue a number of shares up to the amount of our authorized capital in any manner and on such terms and for such consideration as it deems appropriate. Such securities may be senior to the outstanding classes of common stock. Such securities also may include additional classes of preferred stock, which may be convertible into common stock. Existing stockholders have no preemptive right to purchase shares in any subsequent offering of our securities. Any such offering could dilute a stockholder's investment in us.

            We expect most future borrowings would be made through the Operating Partnership or its subsidiaries. We might, however, incur borrowings that would be reloaned to the Operating Partnership. Borrowings may be in the form of bank borrowings, publicly and privately placed debt instruments, or purchase money obligations to the sellers of properties. Any such indebtedness may be secured or unsecured. Any such indebtedness may also have full or limited recourse to the borrower or cross-collateralized with other debt, or may be fully or partially guaranteed by the Operating Partnership. Although we may borrow to fund the payment of dividends, we currently have no expectation that we will regularly do so.

            The Operating Partnership has an unsecured revolving credit facility, or the Credit Facility. The Credit Facility's initial borrowing capacity of $4.0 billion can be increased at our sole option to $5.0 billion during its term. The Credit Facility will initially mature on October 30, 2015 and can be extended for an additional year at our sole option. On June 1, 2012, we entered into an additional unsecured revolving credit facility, or the Supplemental Facility, with an initial borrowing capacity of $2.0 billion which can be increased at our sole option to $2.5 billion during its term. The Supplemental Facility will initially mature on June 30, 2016 and can be extended for an additional year at our sole option. We issue debt securities through the Operating Partnership, but we may issue our debt securities which may be convertible into capital stock or be accompanied by warrants to purchase capital stock. We also may sell or securitize our lease receivables.

            We may also finance acquisitions through the following:

            The Operating Partnership may also issue units to transferors of properties or other partnership interests which may permit the transferor to defer gain recognition for tax purposes.

            We do not have a policy limiting the number or amount of mortgages that may be placed on any particular property. Mortgage financing instruments, however, usually limit additional indebtedness on such properties. Additionally, our unsecured credit facilities, unsecured note indentures and other contracts may limit our ability to borrow and contain limits on mortgage indebtedness we may incur.

            Typically, we invest in or form special purpose entities to assist us in obtaining secured permanent financing at attractive terms. Permanent financing may be structured as a mortgage loan on a single property, or on a group of properties, and generally requires us to provide a mortgage lien on the property or properties in favor of an institutional third party, as a joint venture with a third party, or as a securitized financing. For securitized financings, we create special purpose entities to own the properties. These special purpose entities, which are common in the real estate industry, are structured so that they would not be consolidated in a bankruptcy proceeding involving a parent

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company. We decide upon the structure of the financing based upon the best terms then available to us and whether the proposed financing is consistent with our other business objectives. For accounting purposes, we include the outstanding securitized debt of special purpose entities owning consolidated properties as part of our consolidated indebtedness.

            We maintain policies and have entered into agreements designed to reduce or eliminate potential conflicts of interest. We have adopted governance principles governing the function, conduct, selection, orientation and duties of our Board of Directors and the Company, as well as written charters for each of the standing Committees of the Board of Directors. In addition, we have a Code of Business Conduct and Ethics, which applies to all of our officers, directors, and employees and those of our subsidiaries. At least a majority of the members of our Board of Directors must qualify as independent under the listing standards for New York Stock Exchange, or NYSE, companies and cannot be affiliated with the Simon family who are significant stockholders and/or unitholders in the Operating Partnership. In addition, the Audit and Compensation Committees of our Board of Directors are comprised of independent members in accordance with the independence requirements of the NYSE. Any transaction between us and the Simons, including property acquisitions, service and property management agreements and retail space leases, must be approved by a majority of our independent directors.

            The sale by the Operating Partnership of any property that it owns may have an adverse tax impact on the Simons and/or other limited partners of the Operating Partnership. In order to avoid any conflict of interest between Simon Property and the Simons, our charter requires that at least six of our independent directors must authorize and require the Operating Partnership to sell any property it owns. Any such sale is subject to applicable agreements with third parties. Noncompetition agreements executed by Herbert Simon and David Simon contain covenants limiting their ability to participate in certain shopping center activities.

            We intend to make investments which are consistent with our qualification as a REIT, unless the Board of Directors determines that it is no longer in our best interests to so qualify as a REIT. The Board of Directors may make such a determination because of changing circumstances or changes in the REIT requirements. We have authority to offer shares of our capital stock or other securities in exchange for property. We also have authority to repurchase or otherwise reacquire our shares or any other securities. We may issue shares of our common stock, or cash at our option, to holders of units in future periods upon exercise of such holders' rights under the Operating Partnership agreement. Our policy prohibits us from making any loans to our directors or executive officers for any purpose. We may make loans to the joint ventures in which we participate. Additionally, we may make or buy interests in loans for real estate properties owned by others.

Competition

            The retail industry is dynamic and competitive. We compete with numerous merchandise distribution channels including malls, outlet centers, community/lifestyle centers, and other shopping centers in the United States and abroad. We also compete with internet retailing sites and catalogs which provide retailers with distribution options beyond existing brick and mortar retail properties. The existence of competitive alternatives could have a material adverse effect on our ability to lease space and on the level of rents we can obtain. This results in competition for both the tenants to occupy the properties that we develop and manage as well as for the acquisition of prime sites (including land for development and operating properties). We believe that there are numerous factors that make our properties highly desirable to retailers including:

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Certain Activities

            During the past three years, we have:

Employees

            At December 31, 2012, we and our affiliates employed approximately 5,500 persons at various properties and offices throughout the United States, of which approximately 2,100 were part-time. Approximately 1,000 of these employees were located at our corporate headquarters in Indianapolis, Indiana and 100 were located at our Premium Outlets offices in Roseland, New Jersey.

Corporate Headquarters

            Our corporate headquarters are located at 225 West Washington Street, Indianapolis, Indiana 46204, and our telephone number is (317) 636-1600.

Available Information

            We are a large accelerated filer (as defined in Rule 12b-2 of the Securities Exchange Act of 1934, as amended, or Exchange Act) and are required, pursuant to Item 101 of Regulation S-K, to provide certain information regarding our website and the availability of certain documents filed with or furnished to the Securities and Exchange Commission, or SEC. Our Internet website address is www.simon.com. Our annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Exchange Act are available or may be accessed free of charge through the "About Simon/Investor Relations/Financial Information" section of our Internet website as soon as reasonably practicable after we electronically file such material with, or furnish it to, the SEC. Our Internet website and the information contained therein or connected thereto are not intended to be incorporated into this Annual Report on Form 10-K.

            The following corporate governance documents are also available through the "About Simon/Investor Relations/Corporate Governance" section of our Internet website or may be obtained in print form by request of our

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Investor Relations Department: Governance Principles, Code of Business Conduct and Ethics, Audit Committee Charter, Compensation Committee Charter, Governance and Nominating Committee Charter, and Executive Committee Charter.

            In addition, we intend to disclose on our Internet website any amendments to, or waivers from, our Code of Business Conduct and Ethics that are required to be publicly disclosed pursuant to rules of the SEC and the NYSE.

Executive Officers of the Registrant

            The following table sets forth certain information with respect to our executive officers as of December 31, 2012.

Name
  Age   Position

David Simon

    51  

Chairman and Chief Executive Officer

Richard S. Sokolov

    63  

President and Chief Operating Officer

David J. Contis

    54  

Senior Executive Vice President — President Simon Malls

Stephen E. Sterrett

    57  

Senior Executive Vice President and Chief Financial Officer

John Rulli

    56  

Senior Executive Vice President and Chief Administrative Officer

James M. Barkley

    61  

General Counsel; Secretary

Andrew A. Juster

    60  

Executive Vice President and Treasurer

Steven E. Fivel

    52  

Assistant General Counsel and Assistant Secretary

Steven K. Broadwater

    46  

Senior Vice President and Chief Accounting Officer

            The executive officers of Simon Property serve at the pleasure of the Board of Directors except for David Simon and Richard S. Sokolov who are subject to employment agreements which may call for certain payments upon termination. For biographical information of David Simon, Richard S. Sokolov, Stephen E. Sterrett, James M. Barkley and David J. Contis, see Item 10 of this report.

            Mr. Rulli serves as Simon Property's Senior Executive Vice President and Chief Administrative Officer. Mr. Rulli joined Melvin Simon & Associates, Inc., or MSA, in 1988 and held various positions with MSA and Simon Property thereafter. Mr. Rulli became Chief Administrative Officer in 2007 and was promoted to Senior Executive Vice President in 2011.

            Mr. Juster serves as Simon Property's Executive Vice President and Treasurer. Mr. Juster joined MSA in 1989 and held various financial positions with MSA until 1993 and thereafter has held various positions with Simon Property. Mr. Juster became Treasurer in 2001 and was promoted to Executive Vice President in 2008.

            Mr. Fivel serves as Simon Property's Assistant General Counsel and Assistant Secretary. Prior to rejoining Simon in 2011, Mr. Fivel served in a similar capacity with a large public registrant. Mr. Fivel was previously with Simon Property from 1993 to 1997.

            Mr. Broadwater serves as Simon Property's Senior Vice President and Chief Accounting Officer and prior to that as Vice President and Corporate Controller. Mr. Broadwater joined Simon Property in 2004 and was promoted to Senior Vice President and Chief Accounting Officer in 2009.

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Item 1A.    Risk Factors

            The following factors, among others, could cause our actual results to differ materially from those contained in forward-looking statements made in this Annual Report on Form 10-K and presented elsewhere by our management from time to time. These factors may have a material adverse effect on our business, financial condition, operating results and cash flows, and you should carefully consider them. Additional risks and uncertainties not presently known to us or which are currently not believed to be material may also affect our actual results. We may update these factors in our future periodic reports.

Risks Relating to Debt and the Financial Markets

            As of December 31, 2012, our consolidated mortgages and other indebtedness, excluding related premium and discount, totaled $23.1 billion. We are subject to the risks normally associated with debt financing, including the risk that our cash flow from operations will be insufficient to meet required debt service. Our debt service costs generally will not be reduced if developments at the property, such as the entry of new competitors or the loss of major tenants, cause a reduction in the income from the property. Should such events occur, our operations may be adversely affected. If a property is mortgaged to secure payment of indebtedness and income from such property is insufficient to pay that indebtedness, the property could be foreclosed upon by the mortgagee resulting in a loss of income and a decline in our total asset value.

            We depend on external financings, principally debt financings, to fund the growth of our business and to ensure that we can meet ongoing maturities of our outstanding debt. Our access to financing depends on our credit rating, the willingness of banks to lend to us and conditions in the capital markets. We cannot assure you that we will be able to obtain the financing we need for future growth or to meet our debt service as obligations mature, or that the financing available to us will be on acceptable terms.

            Our outstanding senior unsecured notes and preferred stock are periodically rated by nationally recognized credit rating agencies. The credit ratings are based on our operating performance, liquidity and leverage ratios, overall financial position, and other factors viewed by the credit rating agencies as relevant to our industry and the economic outlook in general. Our credit rating can affect the amount of capital we can access, as well as the terms of any financing we obtain. Since we depend primarily on debt financing to fund our growth, adverse changes in our credit rating could have a negative effect on our future growth.

            We selectively manage our exposure to interest rate risk by a combination of interest rate protection agreements to effectively fix or cap a portion of our variable rate debt. In addition, we refinance fixed rate debt at times when we believe rates and terms are appropriate. Our efforts to manage these exposures may not be successful.

            Our use of interest rate hedging arrangements to manage risk associated with interest rate volatility may expose us to additional risks, including a risk that a counterparty to a hedging arrangement may fail to honor its obligations. Developing an effective interest rate risk strategy is complex and no strategy can completely insulate us from risks associated with interest rate fluctuations. There can be no assurance that our hedging activities will have the desired beneficial impact on our results of operations or financial condition. Termination of these hedging agreements typically involves costs, such as transaction fees or breakage costs.

Factors Affecting Real Estate Investments and Operations

            We regularly acquire and develop new properties and expand and redevelop existing properties, and these activities are subject to various risks. We may not be successful in pursuing acquisition, development or redevelopment/

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expansion opportunities. In addition, newly acquired, developed or redeveloped/expanded properties may not perform as well as expected. We are subject to other risks in connection with any acquisition, development and redevelopment/expansion activities, including the following:

            If a development or redevelopment/expansion project is unsuccessful, either because it is not meeting our expectations when operational or was not completed according to the project planning, we could lose our investment in the project. Further, if we guarantee the property's financing, our loss could exceed our investment in the project.

            Our properties represent a substantial portion of our total consolidated assets. These investments are relatively illiquid. As a result, our ability to sell one or more of our properties or investments in real estate in response to any changes in economic or other conditions may be limited. If we want to sell a property, we cannot assure you that we will be able to dispose of it in the desired time period or that the sales price of a property will exceed the cost of our investment.

            As of December 31, 2012, we hold interests in joint venture properties that operate in Japan, South Korea, Mexico, and Malaysia. We also have an equity stake in Klépierre, a publicly-traded European real estate company. Accordingly, our operating results and the value of our international operations may be impacted by any unhedged movements in the foreign currencies in which those operations transact and in which our net investment in the foreign operation is held. We may pursue additional expansion and development opportunities outside the United States. International development and ownership activities carry risks that are different from those we face with our domestic properties and operations. These risks include:

            Although our international activities currently are a relatively small portion of our business (international properties represented approximately 6.3% of net operating income, or NOI, for the year ended December 31, 2012), to the extent that we expand our international activities, these risks could increase in significance which in turn could adversely affect our results of operations and financial condition.

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Environmental Risks

            Federal, state and local laws and regulations relating to the protection of the environment may require us, as a current or previous owner or operator of real property, to investigate and clean up hazardous or toxic substances or petroleum product releases at a property or at impacted neighboring properties. These laws often impose liability regardless of whether the property owner or operator knew of, or was responsible for, the presence of hazardous or toxic substances. These laws and regulations may require the abatement or removal of asbestos containing materials in the event of damage, demolition or renovation, reconstruction or expansion of a property and also govern emissions of and exposure to asbestos fibers in the air. Those laws and regulations also govern the installation, maintenance and removal of underground storage tanks used to store waste oils or other petroleum products. Many of our properties contain, or at one time contained, asbestos containing materials or underground storage tanks (primarily related to auto service center establishments or emergency electrical generation equipment). The costs of investigation, removal or remediation of hazardous or toxic substances may be substantial and could adversely affect our results of operations or financial condition but is not estimable. The presence of contamination, or the failure to remediate contamination, may also adversely affect our ability to sell, lease or redevelop a property or to borrow using a property as collateral.

            Although we believe that our portfolio is in substantial compliance with federal, state and local environmental laws, ordinances and regulations regarding hazardous or toxic substances, this belief is based on limited testing. Nearly all of our properties have been subjected to Phase I or similar environmental audits. These environmental audits have not revealed, nor are we aware of, any environmental liability that we believe will have a material adverse effect on our results of operations or financial condition. However, we cannot assure you that:

Retail Operations Risks

            Our concentration in the retail real estate market means that we are subject to the risks that affect the retail environment generally, including the levels of consumer spending, seasonality, the willingness of retailers to lease space in our shopping centers, tenant bankruptcies, changes in economic conditions, increasing use of the internet by retailers and consumers, consumer confidence, casualties and other natural disasters, and the potential for terrorist activities. The economy and consumer spending appear to be recovering from the effects of the recent recession. We derive our cash flow from operations primarily from retail tenants, many of whom have been and continue to be under some degree of economic stress. A significant deterioration in our cash flow from operations could require us to curtail planned capital expenditures or seek alternative sources of financing.

            We may not be able to lease new properties to an appropriate mix of tenants or for rents that are consistent with our projections. Also, when leases for our existing properties expire, the premises may not be relet or the terms of reletting, including the cost of allowances and concessions to tenants, may be less favorable than the current lease terms. To the extent that our leasing plans are not achieved, our cash generated before debt repayments and capital expenditures could be adversely affected. Changes in economic and operating conditions that occur subsequent to our review of recoverability of investment property and other assets could impact the assumptions used in that assessment and could result in future charges to earnings if assumptions regarding those investments differ from actual results.

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            Malls are typically anchored by department stores and other large nationally recognized tenants. The value of some of our properties could be adversely affected if these tenants fail to comply with their contractual obligations, seek concessions in order to continue operations, or cease their operations. Department store and larger store, also referred to as "big box", consolidations typically result in the closure of existing stores or duplicate or geographically overlapping store locations. We do not control the disposition of those department stores or larger stores that we do not own. We also may not control the vacant space that is not re-leased in those stores we do own. Other tenants may be entitled to modify the terms of their existing leases in the event of such closures. The modification could be unfavorable to us as the lessor and could decrease rents or expense recovery charges. Additionally, major tenant closures may result in decreased customer traffic which could lead to decreased sales at other stores. If the sales of stores operating in our properties were to decline significantly due to closing of anchors, economic conditions, or other reasons, tenants may be unable to pay their minimum rents or expense recovery charges. In the event of default by a tenant or anchor store, we may experience delays and costs in enforcing our rights as landlord to recover amounts due to us under the terms of our agreements with those parties.

            Bankruptcy filings by retailers occur regularly in the course of our operations. We continually seek to re-lease vacant spaces resulting from tenant terminations. The bankruptcy of a tenant, particularly an anchor tenant, may make it more difficult to lease the remainder of the affected properties. Future tenant bankruptcies could adversely affect our properties or impact our ability to successfully execute our re-leasing strategy.

            Our properties compete with other retail properties and other forms of retailing such as catalogs and e-commerce websites. Competition may come from malls, outlet centers, community/lifestyle centers, and other shopping centers, both existing as well as future development projects, as well as catalogs and e-commerce. The presence of competitive alternatives affects our ability to lease space and the level of rents we can obtain. New construction, renovations and expansions at competing sites could also negatively affect our properties.

            We also compete with other retail property developers to acquire prime development sites. In addition, we compete with other retail property companies for tenants and qualified management.

Risks Relating to Joint Venture Properties

            As of December 31, 2012, we owned interests in 108 income-producing properties with other parties. Of those, 18 properties are included in our consolidated financial statements. We account for the other 90 properties under the equity method of accounting, which we refer to as joint venture properties. We serve as general partner or property manager for 74 of these 90 properties; however, certain major decisions, such as approving the operating budget and selling, refinancing and redeveloping the properties require the consent of the other owners. Of the properties for which we do not serve as general partner or property manager, 12 are in our international joint ventures. The other owners also have other participating rights that we consider substantive for purposes of determining control over the properties' assets. The remaining joint venture properties are managed by third parties. These limitations may adversely affect our ability to sell, refinance, or otherwise operate these properties.

            Joint venture debt is the liability of the joint venture and is typically secured by a mortgage on the joint venture property. As of December 31, 2012, the Operating Partnership had guaranteed $84.9 million of joint venture related mortgage or other indebtedness. A default by a joint venture under its debt obligations may expose us to liability under a guaranty or letter of credit. We may elect to fund cash needs of a joint venture through equity contributions (generally on a basis proportionate to our ownership interests), advances or partner loans, although such fundings are not required contractually or otherwise.

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Other Factors Affecting Our Business

            We maintain insurance coverage with third party carriers who provide a portion of the coverage for specific layers of potential losses including commercial general liability, fire, flood, extended coverage and rental loss insurance on all of our properties in the United States. The initial portion of coverage not provided by third party carriers is either insured through our wholly-owned captive insurance companies or other financial arrangements controlled by us. A third party carrier has, in turn, agreed to provide evidence of coverage for this layer of losses under the terms and conditions of the carrier's policy. A similar policy written through our captive insurance entities also provides initial coverage for property insurance and certain windstorm risks at the properties located in coastal windstorm locations.

            There are some types of losses, including lease and other contract claims, which generally are not insured. If an uninsured loss or a loss in excess of insured limits occurs, we could lose all or a portion of the capital we have invested in a property, as well as the anticipated future revenue it could generate.

            We currently maintain insurance coverage against acts of terrorism on all of our properties in the United States on an "all risk" basis in the amount of up to $1 billion. The current federal laws which provide this coverage are expected to operate through 2014. Despite the existence of this insurance coverage, any threatened or actual terrorist attacks where we operate could adversely affect our property values, revenues, consumer traffic and tenant sales.

Risks Relating to Income Taxes

            We are subject to certain income-based taxes, both domestically and internationally, and other taxes, including state and local taxes, franchise taxes, and withholding taxes on dividends from certain of our international investments. We currently receive favorable tax treatment in various domestic and international jurisdictions through tax rules and regulations or through international treaties. Should we no longer receive such benefits, the amount of taxes we pay may increase.

            In the U.S., we have elected to be taxed as a REIT under Sections 856 through 860 of the Internal Revenue Code. We believe we have been organized and operated in a manner which allows us to qualify for taxation as a REIT under the Internal Revenue Code. We intend to continue to operate in this manner. However, our qualification and taxation as a REIT depend upon our ability to meet, through actual annual operating results, asset diversification, distribution levels and diversity of stock ownership, the various qualification tests imposed under the Internal Revenue Code. REIT qualification is governed by highly technical and complex provisions for which there are only limited judicial or administrative interpretations. Accordingly, there is no assurance that we have operated or will continue to operate in a manner so as to qualify or remain qualified as a REIT.

            If we fail to comply with those provisions, we may be subject to monetary penalties or ultimately to possible disqualification as a REIT. If such events occurs, and if available relief provisions do not apply:

Item 1B.    Unresolved Staff Comments

            None.

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Table of Contents


Item 2.    Properties

            Our U.S. properties primarily consist of malls, Premium Outlets, The Mills, community/lifestyle centers, and other properties. These properties contain an aggregate of approximately 239.2 million square feet of gross leasable area, or GLA, of which we own approximately 152.9 million square feet.

            Malls typically contain at least one traditional department store anchor or a combination of anchors and big box retailers with a wide variety of smaller stores connecting the anchors. Additional stores are usually located along the perimeter of the parking area. Our 160 malls are generally enclosed centers and range in size from approximately 400,000 to 2.5 million square feet of GLA. Our malls contain in the aggregate more than 17,100 occupied stores, including approximately 680 anchors, which are predominately national retailers.

            Premium Outlets generally contain a wide variety of designer and manufacturer stores located in open-air centers. Our 63 Premium Outlets range in size from approximately 150,000 to 850,000 square feet of GLA. The Premium Outlets are generally located near major metropolitan areas and/or tourist destinations.

            The Mills generally range in size from 1.0 million to 2.2 million square feet of GLA and are located in major metropolitan areas. They have a combination of traditional mall, outlet center, and big box retailers and entertainment uses.

            Community/lifestyle centers are generally unenclosed and smaller than our malls. Our 68 community/lifestyle centers generally range in size from approximately 100,000 to 950,000 square feet of GLA. Community/lifestyle centers are designed to serve a larger trade area and typically contain anchor stores and other national retail tenants, which occupy a significant portion of the GLA of the center. We also own traditional community shopping centers that focus primarily on value-oriented and convenience goods and services. These centers are usually anchored by a supermarket, discount retailer, or drugstore and are designed to service a neighborhood area. Finally, we own open-air centers adjacent to our malls designed to take advantage of the drawing power of the mall.

            We also have interests in 13 other shopping centers or outlet centers. These properties range in size from approximately 85,000 to 1.1 million square feet of GLA, are considered non-core to our business model, and in total represent less than 1% of our total operating income before depreciation and amortization.

            As of December 31, 2012, approximately 95.3% of the owned GLA in malls and Premium Outlets and the retail space of the other properties was leased, approximately 97.2% of the owned GLA for The Mills was leased and approximately 94.7% of the owned GLA in the community/lifestyle centers was leased.

            We wholly own 221 of our properties, effectively control 18 properties in which we have a joint venture interest, and hold the remaining 78 properties through unconsolidated joint venture interests. We are the managing or co-managing general partner or member of 313 properties. Certain of our joint venture properties are subject to various rights of first refusal, buy-sell provisions, put and call rights, or other sale or marketing rights for partners which are customary in real estate partnership agreements and the industry. We and our partners in these joint ventures may initiate these provisions (subject to any applicable lock up or similar restrictions) which may result in either the sale of our interest or the use of available cash or borrowings, or the use of Operating Partnership units, to acquire the joint venture interest from our partner.

            The following property table summarizes certain data for our malls and Premium Outlets, The Mills, and community/lifestyle centers located in the United States, including Puerto Rico, as of December 31, 2012.

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Simon Property Group, Inc. and Subsidiaries

Property Table

U.S. Properties

 
 
Property Name
  State   City (CBSA)   Ownership Interest
(Expiration if
Lease)(3)
  Legal Ownership   Year Built
or
Acquired
  Occupancy(5)   Total GLA   Retail Anchors and Selected Major Tenants
 
  Malls
1.   Anderson Mall   SC   Anderson   Fee     100.0 % Built 1972     84.2%     671,748   Belk, JCPenney, Sears, Dillard's, Books-A-Million
2.   Apple Blossom Mall   VA   Winchester   Fee     49.1 %(4) Acquired 1999     95.9%     419,665   Belk, JCPenney, Sears, Carmike Cinemas(6)
3.   Arsenal Mall   MA   Watertown (Boston)   Fee     100.0 % Acquired 1999     95.5%     439,615   Marshalls, Sports Authority, The Home Depot, Golf Town
4.   Auburn Mall   MA   Auburn   Fee     56.4 %(4) Acquired 1999     98.1%     587,444   Macy's (2 locations), Sears
5.   Aventura Mall(1)   FL   Miami Beach (Miami)   Fee     33.3 %(4) Built 1983     99.1%     2,105,858   Bloomingdale's, Macy's, Macy's Men's & Home Furniture, JCPenney, Sears, Nordstrom, Equinox Fitness Clubs, AMC Theatres
6.   Avenues, The   FL   Jacksonville   Fee     25.0 %(4)(2) Built 1990     96.4%     1,116,479   Belk, Dillard's, JCPenney, Sears, Forever 21
7.   Bangor Mall   ME   Bangor   Fee     67.1 %(15) Acquired 2003     98.1%     652,531   Macy's, JCPenney, Sears, Dick's Sporting Goods
8.   Barton Creek Square   TX   Austin   Fee     100.0 % Built 1981     100.0%     1,429,965   Nordstrom, Macy's, Dillard's (2 locations), JCPenney, Sears, AMC Theatre
9.   Battlefield Mall   MO   Springfield   Fee and Ground Lease (2056)     100.0 % Built 1970     98.4%     1,198,681   Macy's, Dillard's (2 locations), JCPenney, Sears, MC Sports
10.   Bay Park Square   WI   Green Bay   Fee     100.0 % Built 1980     95.6%     711,548   Younkers, Younkers Home Furniture Gallery, Kohl's, ShopKo, Marcus Cinema 16
11.   Bowie Town Center   MD   Bowie (Washington, D.C.)   Fee     100.0 % Built 2001     95.2%     685,686   Macy's, Sears, Barnes & Noble, Best Buy, Safeway,(8)
12.   Boynton Beach Mall   FL   Boynton Beach (Miami)   Fee     100.0 % Built 1985     88.4%     1,101,200   Macy's, Dillard's, JCPenney, Sears, Cinemark Theatres, You Fit Health Clubs,(8)
13.   Brea Mall   CA   Brea (Los Angeles)   Fee     100.0 % Acquired 1998     96.7%     1,320,799   Nordstrom, Macy's (2 locations), JCPenney, Sears
14.   Briarwood Mall   MI   Ann Arbor   Fee     50.0 %(4) Acquired 2007     97.2%     971,865   Macy's, JCPenney, Sears, Von Maur
15.   Broadway Square   TX   Tyler   Fee     100.0 % Acquired 1994     100.0%     627,934   Dillard's, JCPenney, Sears
16.   Brunswick Square   NJ   East Brunswick (New York)   Fee     100.0 % Built 1973     99.3%     760,361   Macy's, JCPenney, Barnes & Noble, Starplex Luxury Cinema
17.   Burlington Mall   MA   Burlington (Boston)   Fee and Ground Lease (2048)(7)     100.0 % Acquired 1998     96.5%     1,316,849   Macy's, Lord & Taylor, Sears, Nordstrom, Crate & Barrel
18.   Cape Cod Mall   MA   Hyannis   Fee and Ground Leases (2029-2073)(7)     56.4 %(4) Acquired 1999     96.1%     721,749   Macy's (2 locations), Sears, Best Buy, Marshalls, Barnes & Noble, Regal Cinema
19.   Castleton Square   IN   Indianapolis   Fee     100.0 % Built 1972     99.0%     1,383,194   Macy's, Von Maur, JCPenney, Sears, Dick's Sporting Goods, AMC Theatres
20.   Charlottesville Fashion Square   VA   Charlottesville   Ground Lease (2076)     100.0 % Acquired 1997     95.9%     576,157   Belk (2 locations), JCPenney, Sears
21.   Chautauqua Mall   NY   Lakewood   Fee     100.0 % Built 1971     94.2%     429,305   Sears, JCPenney, Bon Ton, Office Max, Dipson Cinema
22.   Chesapeake Square   VA   Chesapeake (Virginia Beach)   Fee and Ground Lease (2062)     75.0 %(12) Built 1989     86.1%     759,915   Macy's, JCPenney, Sears, Target, Burlington Coat Factory, Cinemark Theatres
23.   Cielo Vista Mall   TX   El Paso   Fee and Ground Lease (2022)(7)     100.0 % Built 1974     99.4%     1,241,535   Macy's, Dillard's (2 locations), JCPenney, Sears, Cinemark Theatres

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Table of Contents

Simon Property Group, Inc. and Subsidiaries

Property Table

U.S. Properties

 
 
Property Name
  State   City (CBSA)   Ownership Interest
(Expiration if
Lease)(3)
  Legal Ownership   Year Built
or
Acquired
  Occupancy(5)   Total GLA   Retail Anchors and Selected Major Tenants
24.   Circle Centre   IN   Indianapolis   Property Lease (2097)     14.7 %(4)(2) Built 1995     95.5%     771,104   Carson's, United Artists Theatre,(8)
25.   Coconut Point   FL   Estero   Fee     50.0 %(4) Built 2006     93.5%     1,204,910   Dillard's, Barnes & Noble, Bed Bath & Beyond, Best Buy, DSW, Office Max, PetsMart, Ross Dress for Less, Cost Plus World Market, T.J. Maxx, Hollywood Theatres, Super Target
26.   Coddingtown Mall   CA   Santa Rosa   Fee     50.0 %(4) Acquired 2005     97.4%     633,771   Macy's, JCPenney, Whole Foods, Target(6)
27.   College Mall   IN   Bloomington   Fee and Ground Lease (2048)(7)     100.0 % Built 1965     85.2%     636,807   Macy's, Sears, Target, Dick's Sporting Goods, Bed Bath & Beyond
28.   Columbia Center   WA   Kennewick   Fee     100.0 % Acquired 1987     99.1%     770,460   Macy's (2 locations), JCPenney, Sears, Barnes & Noble, Regal Cinema
29.   Copley Place   MA   Boston   Fee     98.1 % Acquired 2002     97.3%     1,241,804   Neiman Marcus, Barneys New York
30.   Coral Square   FL   Coral Springs (Miami)   Fee     97.2 % Built 1984     97.9%     943,552   Macy's (2 locations), JCPenney, Sears, Kohl's
31.   Cordova Mall   FL   Pensacola   Fee     100.0 % Acquired 1998     98.1%     835,986   Dillard's, Belk, Best Buy, Bed Bath & Beyond, Cost Plus World Market, Ross Dress for Less, Dick's Sporting Goods(6)
32.   Cottonwood Mall   NM   Albuquerque   Fee     100.0 % Built 1996     95.7%     1,042,904   Macy's, Dillard's, JCPenney, Sears, Regal Cinema,(11)
33.   Crystal Mall   CT   Waterford   Fee     78.2 %(4) Acquired 1998     91.7%     783,292   Macy's, JCPenney, Sears, Bed Bath & Beyond, Christmas Tree Shops
34.   Dadeland Mall   FL   Miami   Fee     50.0 %(4) Acquired 1997     99.7%     1,399,312   Saks Fifth Avenue, Nordstrom, Macy's (2 locations), JCPenney
35.   Del Amo Fashion Center   CA   Torrance (Los Angeles)   Fee     50.0 %(4) Acquired 2007     90.6%     2,344,710   Macy's (2 locations), Macy's Home & Furniture Gallery, JCPenney, Sears, Marshalls, T.J. Maxx, Barnes & Noble, JoAnn Fabrics, Crate & Barrel, L.A. Fitness, Burlington Coat Factory, AMC Theatres, Nordstrom(6)
36.   Domain, The   TX   Austin   Fee     100.0 % Built 2006     97.0%     1,214,495   Neiman Marcus, Macy's, Dick's Sporting Goods, iPic Theaters, Dillard's, Arhaus Furniture(6), Punch Bowl Social(6)
37.   Dover Mall   DE   Dover   Fee and Ground Lease (2021)(7)     68.1 %(4) Acquired 2007     91.6%     874,987   Macy's, JCPenney, Boscov's, Sears, Carmike Cinemas, Dick's Sporting Goods(6)
38.   Edison Mall   FL   Fort Myers   Fee     100.0 % Acquired 1997     95.4%     1,053,530   Dillard's, Macy's (2 locations), JCPenney, Sears, Books-A-Million
39.   Emerald Square   MA   North Attleboro (Providence — RI)   Fee     56.4 %(4) Acquired 1999     93.3%     1,022,740   Macy's (2 locations), JCPenney, Sears
40.   Empire Mall   SD   Sioux Falls   Fee and Ground Lease (2033)(7)     100.0 % Acquired 1998     94.9%     1,069,723   Macy's, Younkers, JCPenney, Sears, Gordmans, Hy-Vee
41.   Falls, The   FL   Miami   Fee     50.0 %(4) Acquired 2007     100.0%     839,914   Bloomingdale's, Macy's, Regal Cinema, The Fresh Market
42.   Fashion Centre at Pentagon City, The   VA   Arlington (Washington, DC)   Fee     42.5 %(4) Built 1989     99.0%     988,839   Nordstrom, Macy's
43.   Fashion Mall at Keystone, The   IN   Indianapolis   Fee and Ground Lease (2067)(7)     100.0 % Acquired 1997     93.0%     677,105   Saks Fifth Avenue, Crate & Barrel, Nordstrom, Keystone Art Cinema
44.   Fashion Valley   CA   San Diego   Fee     50.0 %(4) Acquired 2001     98.9%     1,727,579   Forever 21, Neiman Marcus, Bloomingdale's, Nordstrom, Macy's, JCPenney, AMC Theatres, The Container Store
45.   Firewheel Town Center   TX   Garland (Dallas)   Fee     100.0 % Built 2005     94.2%     1,000,108   Dillard's, Macy's, Barnes & Noble, DSW, Cost Plus World Market, AMC Theatres, Dick's Sporting Goods, Ethan Allen, Toys 'R Us/Babies 'R Us(6)
46.   Florida Mall, The   FL   Orlando   Fee     50.0 %(4) Built 1986     97.5%     1,771,648   Saks Fifth Avenue, Nordstrom, Macy's, Dillard's, JCPenney, Sears, H&M, Forever 21, Zara
47.   Forest Mall   WI   Fond Du Lac   Fee     100.0 % Built 1973     92.4%     500,273   JCPenney, Kohl's, Younkers, Sears, Cinema I & II
48.   Forum Shops at Caesars, The   NV   Las Vegas   Ground Lease (2050)     100.0 % Built 1992     98.0%     674,920    

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Table of Contents

Simon Property Group, Inc. and Subsidiaries

Property Table

U.S. Properties

 
 
Property Name
  State   City (CBSA)   Ownership Interest
(Expiration if
Lease)(3)
  Legal Ownership   Year Built
or
Acquired
  Occupancy(5)   Total GLA   Retail Anchors and Selected Major Tenants
49.   Great Lakes Mall   OH   Mentor (Cleveland)   Fee     100.0 % Built 1961     91.4%     1,236,998   Dillard's (2 locations), Macy's, JCPenney, Sears, Atlas Cinema Stadium 16, Barnes & Noble
50.   Greendale Mall   MA   Worcester (Boston)   Fee and Ground Lease (2019)(7)     56.4 %(4) Acquired 1999     94.8%     429,711   T.J. Maxx 'N More, Best Buy, DSW, Big Lots
51.   Greenwood Park Mall   IN   Greenwood (Indianapolis)   Fee     100.0 % Acquired 1979     99.0%     1,287,976   Macy's, Von Maur, JCPenney, Sears, Dick's Sporting Goods, Barnes & Noble, Regal Cinema
52.   Gulf View Square   FL   Port Richey (Tampa)   Fee     100.0 % Built 1980     88.7%     752,851   Macy's, Dillard's, JCPenney, Sears, Best Buy, T.J. Maxx
53.   Haywood Mall   SC   Greenville   Fee and Ground Lease (2017)(7)     100.0 % Acquired 1998     98.7%     1,228,778   Macy's, Dillard's, JCPenney, Sears, Belk
54.   Houston Galleria   TX   Houston   Fee     50.4 %(4) Acquired 2002     96.6%     2,237,012   Saks Fifth Avenue, Neiman Marcus, Nordstrom, Macy's (2 locations), Galleria Tennis/Athletic Club
55.   Independence Center   MO   Independence (Kansas City)   Fee     100.0 % Acquired 1994     98.1%     866,915   Dillard's, Macy's, Sears
56.   Indian River Mall   FL   Vero Beach   Fee     50.0 %(4) Built 1996     87.7%     736,621   Dillard's, Macy's, JCPenney, Sears, AMC Theatres
57.   Ingram Park Mall   TX   San Antonio   Fee     100.0 % Built 1979     96.2%     1,124,842   Dillard's (2 locations), Macy's, JCPenney, Sears, Bealls
58.   Irving Mall   TX   Irving (Dallas)   Fee     100.0 % Built 1971     93.6%     1,052,817   Macy's, Dillard's, Sears, Burlington Coat Factory, La Vida Fashion and Home Décor, AMC Theatres, Fitness Connection(6)
59.   Jefferson Valley Mall   NY   Yorktown Heights (New York)   Fee     100.0 % Built 1983     90.6%     556,141   Macy's, Sears,(8)
60.   King of Prussia — The Court & The Plaza   PA   King of Prussia (Philadelphia)   Fee     96.1 % Acquired 2003     96.5%     2,448,211   Neiman Marcus, Bloomingdale's, Nordstrom, Lord & Taylor, Macy's, JCPenney, Sears, Crate & Barrel, Arhaus Furniture, The Container Store(6)
61.   Knoxville Center   TN   Knoxville   Fee     100.0 % Built 1984     75.6%     963,989   JCPenney, Belk, Sears, The Rush Fitness Center, Regal Cinema
62.   La Plaza Mall   TX   McAllen   Fee and Ground Lease (2040)(7)     100.0 % Built 1976     97.9%     1,221,717   Macy's (2 locations), Dillard's, JCPenney, Sears, Joe Brand
63.   Laguna Hills Mall   CA   Laguna Hills (Los Angeles)   Fee     100.0 % Acquired 1997     73.6%     846,595   Macy's, JCPenney, Sears, Nordstrom Rack, Total Woman Gym & Spa
64.   Lakeline Mall   TX   Cedar Park (Austin)   Fee     100.0 % Built 1995     97.7%     1,097,509   Dillard's (2 locations), Macy's, JCPenney, Sears, Regal Cinema
65.   Lehigh Valley Mall   PA   Whitehall   Fee     38.0 %(4)(15) Acquired 2003     100.0%     1,169,239   Macy's, JCPenney, Boscov's, Barnes & Noble, hhgregg, Babies 'R Us
66.   Lenox Square   GA   Atlanta   Fee     100.0 % Acquired 1998     91.6%     1,558,899   Neiman Marcus, Bloomingdale's, Macy's
67.   Liberty Tree Mall   MA   Danvers (Boston)   Fee     49.1 %(4) Acquired 1999     91.9%     856,283   Marshalls, Sports Authority, Target, Kohl's, Best Buy, Staples, AC Moore, AMC Theatres, Nordstrom Rack, Off Broadway Shoes,(8)

16


Table of Contents

Simon Property Group, Inc. and Subsidiaries

Property Table

U.S. Properties

 
 
Property Name
  State   City (CBSA)   Ownership Interest
(Expiration if
Lease)(3)
  Legal Ownership   Year Built
or
Acquired
  Occupancy(5)   Total GLA   Retail Anchors and Selected Major Tenants
68.   Lima Mall   OH   Lima   Fee     100.0 % Built 1965     96.7%     741,773   Macy's, JCPenney, Elder-Beerman, Sears, MC Sporting Goods
69.   Lincolnwood Town Center   IL   Lincolnwood (Chicago)   Fee     100.0 % Built 1990     94.1%     421,342   Kohl's, Carson's
70.   Lindale Mall   IA   Cedar Rapids   Fee     100.0 % Acquired 1998     93.9%     689,584   Von Maur, Sears, Younkers
71.   Livingston Mall   NJ   Livingston (New York)   Fee     100.0 % Acquired 1998     93.5%     968,626   Macy's, Lord & Taylor, Sears, Barnes & Noble
72.   Longview Mall   TX   Longview   Fee     100.0 % Built 1978     96.5%     638,539   Dillard's, JCPenney, Sears, Bealls
73.   Mall at Chestnut Hill, The   MA   Chestnut Hill (Boston)   Lease (2038)(9)     94.4 % Acquired 2002     87.3%     468,878   Bloomingdale's (2 locations)
74.   Mall at Rockingham Park, The   NH   Salem (Boston)   Fee     28.2 %(4) Acquired 1999     98.6%     1,025,146   JCPenney, Sears, Macy's, Lord & Taylor
75.   Mall at Tuttle Crossing, The   OH   Dublin (Columbus)   Fee     50.0 %(4) Acquired 2007     96.1%     1,129,203   Macy's (2 locations), JCPenney, Sears
76.   Mall of Georgia   GA   Buford (Atlanta)   Fee     100.0 % Built 1999     97.9%     1,822,740   Nordstrom, Dillard's, Macy's, JCPenney, Belk, Dick's Sporting Goods, Barnes & Noble, Haverty's Furniture, Regal Cinema
77.   Mall of New Hampshire, The   NH   Manchester   Fee     56.4 %(4) Acquired 1999     97.5%     811,080   Macy's, JCPenney, Sears, Best Buy, A.C. Moore
78.   Maplewood Mall   MN   St. Paul (Minneapolis)   Fee     100.0 % Acquired 2002     94.1%     926,483   Macy's, JCPenney, Sears, Kohl's, Barnes & Noble
79.   Markland Mall   IN   Kokomo   Ground Lease (2041)     100.0 % Built 1968     96.1%     416,664   Sears, Target, MC Sporting Goods, Carson's
80.   McCain Mall   AR   N. Little Rock   Fee     100.0 % Built 1973     93.1%     789,980   Dillard's, JCPenney, Sears, Regal Cinema
81.   Meadowood Mall   NV   Reno   Fee     50.0 %(4) Acquired 2007     94.7%     875,026   Macy's (2 locations), Sears, JCPenney,(8)
82.   Melbourne Square   FL   Melbourne   Fee     100.0 % Built 1982     88.0%     703,014   Macy's, Dillard's (2 locations), JCPenney, Dick's Sporting Goods,(8)
83.   Menlo Park Mall   NJ   Edison (New York)   Fee     100.0 % Acquired 1997     98.4%     1,322,704   Nordstrom, Macy's, Barnes & Noble, AMC Dine-In Theatre, WOW! Work Out World, Fortunoff Backyard Store
84.   Mesa Mall   CO   Grand Junction   Fee     100.0 % Acquired 1998     85.4%     881,686   Sears, Herberger's, JCPenney, Target, Cabela's, Sports Authority, Jo-Ann Fabrics
85.   Miami International Mall   FL   Miami   Fee     47.8 %(4) Built 1982     96.3%     1,080,172   Macy's (2 locations), JCPenney, Sears, Kohl's
86.   Midland Park Mall   TX   Midland   Fee     100.0 % Built 1980     97.9%     615,340   Dillard's (2 locations), JCPenney, Sears, Bealls, Ross Dress for Less
87.   Miller Hill Mall   MN   Duluth   Fee     100.0 % Built 1973     98.0%     784,339   JCPenney, Sears, Younkers, Barnes & Noble, DSW, Dick's Sporting Goods(6)
88.   Montgomery Mall   PA   North Wales (Philadelphia)   Fee     60.0 %(15) Acquired 2003     85.3%     986,815   Macy's, JCPenney, Sears, Dick's Sporting Goods, Wegmans(6)
89.   Muncie Mall   IN   Muncie   Fee     100.0 % Built 1970     97.1%     631,809   Macy's, JCPenney, Sears, Carson's

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Table of Contents

Simon Property Group, Inc. and Subsidiaries

Property Table

U.S. Properties

 
 
Property Name
  State   City (CBSA)   Ownership Interest
(Expiration if
Lease)(3)
  Legal Ownership   Year Built
or
Acquired
  Occupancy(5)   Total GLA   Retail Anchors and Selected Major Tenants
90.   North East Mall   TX   Hurst (Dallas)   Fee     100.0 % Built 1971     98.5%     1,670,072   Nordstrom, Dillard's, Macy's, JCPenney, Sears, Dick's Sporting Goods, Rave Theatre
91.   Northfield Square   IL   Bourbonnais   Fee     71.7 %(12) Built 1990     88.3%     530,325   Carson's (2 locations), JCPenney, Sears, Cinemark Movies 10
92.   Northgate Mall   WA   Seattle   Fee     100.0 % Acquired 1987     96.9%     1,054,743   Nordstrom, Macy's, JCPenney, Barnes & Noble, Bed Bath & Beyond, DSW, Nordstrom Rack
93.   Northlake Mall   GA   Atlanta   Fee     100.0 % Acquired 1998     86.0%     963,404   Macy's, JCPenney, Sears, Kohl's
94.   Northshore Mall   MA   Peabody (Boston)   Fee     56.4 %(4) Acquired 1999     97.7%     1,591,949   JCPenney, Sears, Nordstrom, Macy's Men's & Furniture, Macys, Barnes & Noble, Toys 'R Us, Shaw's Grocery, The Container Store, DSW
95.   Northwoods Mall   IL   Peoria   Fee     100.0 % Acquired 1983     93.8%     693,497   Macy's, JCPenney, Sears
96.   Oak Court Mall   TN   Memphis   Fee     100.0 % Acquired 1997     96.9%     849,645   Dillard's (2 locations), Macy's
97.   Ocean County Mall   NJ   Toms River (New York)   Fee     100.0 % Acquired 1998     91.3%     891,871   Macy's, Boscov's, JCPenney, Sears
98.   Orange Park Mall   FL   Orange Park (Jacksonville)   Fee     100.0 % Acquired 1994     97.7%     959,529   Dillard's, JCPenney, Sears, Belk, Dick's Sporting Goods, AMC Theatres
99.   Orland Square   IL   Orland Park (Chicago)   Fee     100.0 % Acquired 1997     97.4%     1,234,454   Macy's, Carson's, JCPenney, Sears, Dave & Buster's
100.   Oxford Valley Mall   PA   Langhorne (Philadelphia)   Fee     64.9 %(15) Acquired 2003     90.7%     1,331,225   Macy's, JCPenney, Sears, United Artists Theatre,(8)
101.   Paddock Mall   FL   Ocala   Fee     100.0 % Built 1980     98.5%     556,796   Macy's, JCPenney, Sears, Belk
102.   Penn Square Mall   OK   Oklahoma City   Ground Lease (2060)     94.5 % Acquired 2002     98.9%     1,058,006   Macy's, Dillard's (2 locations), JCPenney, AMC Theatres
103.   Pheasant Lane Mall   NH   Nashua       0.0 %(14) Acquired 2002     94.6%     979,910   JCPenney, Sears, Target, Macy's, Dick's Sporting Goods
104.   Phipps Plaza   GA   Atlanta   Fee     100.0 % Acquired 1998     97.2%     830,811   Saks Fifth Avenue, Nordstrom, Belk, AMC Theatres, Arhaus Furniture, Legoland Discovery Center
105.   Plaza Carolina   PR   Carolina (San Juan)   Fee     100.0 % Acquired 2004     95.5%     1,101,563   JCPenney, Sears, Tiendas Capri, Econo, Best Buy, T.J. Maxx, DSW
106.   Port Charlotte Town Center   FL   Port Charlotte   Fee     80.0 %(12) Built 1989     92.1%     765,042   Dillard's, Macy's, JCPenney, Bealls, Sears, DSW, Regal Cinema
107.   Prien Lake Mall   LA   Lake Charles   Fee and Ground Lease (2025)(7)     100.0 % Built 1972     98.8%     782,988   Dillard's, JCPenney, Sears, Cinemark Theatres, Kohl's, Dick's Sporting Goods(6)
108.   Quaker Bridge Mall   NJ   Lawrenceville   Fee     50.0 %(4) Acquired 2003     78.2%     1,073,802   Macy's, Lord & Taylor, JCPenney, Sears
109.   Richmond Town Square   OH   Richmond Heights (Cleveland)   Fee     100.0 % Built 1966     93.2%     1,011,971   Macy's, JCPenney, Sears, Regal Cinema
110.   River Oaks Center   IL   Calumet City (Chicago)   Fee     100.0 % Acquired 1997     96.3%     1,211,835   Macy's, Carson's, JCPenney, Sears
111.   Rockaway Townsquare   NJ   Rockaway (New York)   Fee     100.0 % Acquired 1998     95.2%     1,247,750   Macy's, Lord & Taylor, JCPenney, Sears
112.   Rolling Oaks Mall   TX   San Antonio   Fee     100.0 % Built 1988     87.2%     882,350   Dillard's, Macy's, JCPenney, Sears
113.   Roosevelt Field   NY   Garden City (New York)   Fee and Ground Lease (2090)(7)     100.0 % Acquired 1998     98.2%     2,247,428   Bloomingdale's, Bloomingdale's Furniture Gallery, Nordstrom, Macy's, JCPenney, Dick's Sporting Goods, Loews Theatre, XSport Fitness, Neiman Marcus(6)
114.   Ross Park Mall   PA   Pittsburgh   Fee     100.0 % Built 1986     96.5%     1,240,229   JCPenney, Sears, Nordstrom, L.L. Bean, Macy's, Crate & Barrel

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Table of Contents

Simon Property Group, Inc. and Subsidiaries

Property Table

U.S. Properties

 
 
Property Name
  State   City (CBSA)   Ownership Interest
(Expiration if
Lease)(3)
  Legal Ownership   Year Built
or
Acquired
  Occupancy(5)   Total GLA   Retail Anchors and Selected Major Tenants
115.   Rushmore Mall   SD   Rapid City   Fee     100.0 % Acquired 1998     73.1%     829,585   JCPenney, Herberger's, Sears, Carmike Cinemas, Hobby Lobby, Toys 'R Us
116.   Santa Rosa Plaza   CA   Santa Rosa   Fee     100.0 % Acquired 1998     94.2%     693,988   Macy's, Sears, Forever 21
117.   Seminole Towne Center   FL   Sanford (Orlando)   Fee     45.0 %(4)(2) Built 1995     80.5%     1,106,121   Macy's, Dillard's, JCPenney, Sears, United Artists Theatre, Dick's Sporting Goods, Burlington Coat Factory
118.   Shops at Mission Viejo, The   CA   Mission Viejo (Los Angeles)   Fee     51.0 %(4) Built 1979     99.3%     1,152,757   Nordstrom, Macy's Women's, Macy's Men's and Furniture, Forever 21
119.   Shops at Riverside, The   NJ   Hackensack (New York)   Fee     100.0 % Acquired 2007     93.1%     771,214   Bloomingdale's, Saks Fifth Avenue, Barnes & Noble, Arhaus Furniture
120.   Shops at Sunset Place, The   FL   S. Miami   Fee     37.5 %(4)(2) Built 1999     81.4%     514,205   Barnes & Noble, Gametime, Z Gallerie, LA Fitness, AMC Theatres, Splitsville,(8)
121.   Smith Haven Mall   NY   Lake Grove (New York)   Fee     25.0 %(4)(2) Acquired 1995     93.8%     1,291,918   Macy's, Macy's Furniture Gallery, JCPenney, Sears, Dick's Sporting Goods, Barnes & Noble
122.   Solomon Pond Mall   MA   Marlborough (Boston)   Fee     56.4 %(4) Acquired 1999     96.2%     884,758   Macy's, JCPenney, Sears, Regal Cinema
123.   South Hills Village   PA   Pittsburgh   Fee     100.0 % Acquired 1997     90.9%     1,114,073   Macy's, Sears, Barnes & Noble, Carmike Cinemas, Dick's Sporting Goods, Target(6)
124.   South Shore Plaza   MA   Braintree (Boston)   Fee     100.0 % Acquired 1998     94.1%     1,591,623   Macy's, Lord & Taylor, Sears, Nordstrom, Target, DSW(6)
125.   Southdale Center   MN   Edina (Minneapolis)   Fee     100.0 % Acquired 2007     81.1%     1,246,073   Macy's, JCPenney, Marshalls, AMC Theatres, Herberger's
126.    Southern Hills Mall   IA   Sioux City   Fee     100.0 % Acquired 1998     87.7%     790,508   Younkers, JCPenney, Sears, Scheel's All Sports, Barnes & Noble, Carmike Cinemas, Hy-Vee
127.   Southern Park Mall   OH   Youngstown   Fee     100.0 % Built 1970     86.0%     1,202,645   Macy's, Dillard's, JCPenney, Sears, Cinemark Theatres
128.   SouthPark   NC   Charlotte   Fee and Ground Lease (2040)(10)     100.0 % Acquired 2002     94.3%     1,621,368   Neiman Marcus, Nordstrom, Macy's, Dillard's, Belk, Dick's Sporting Goods, Crate & Barrel, The Container Store
129.   Southridge Mall   WI   Greendale (Milwaukee)   Fee     100.0 % Acquired 2007     88.5%     1,165,464   JCPenney, Sears, Kohl's, Boston Store, Macy's
130.   Springfield Mall(1)   PA   Springfield (Philadelphia)   Fee     38.0 %(4)(15) Acquired 2005     86.8%     611,126   Macy's, Target
131.   Square One Mall   MA   Saugus (Boston)   Fee     56.4 %(4) Acquired 1999     96.7%     928,535   Macy's, Sears, Best Buy, T.J. Maxx N More, Dick's Sporting Goods, Work Out World,(8)
132.   St. Charles Towne Center   MD   Waldorf (Washington, D.C.)   Fee     100.0 % Built 1990     97.8%     980,196   Macy's (2 locations), JCPenney, Sears, Kohl's, Dick Sporting Goods, AMC Theatres
133.   St. Johns Town Center   FL   Jacksonville   Fee     50.0 %(4) Built 2005     99.5%     1,235,057   Dillard's, Target, Ashley Furniture Home Store, Barnes & Noble, Dick's Sporting Goods, Ross Dress for Less, Staples, DSW, JoAnn Fabrics, PetsMart, Nordstrom(6)
134.   Stanford Shopping Center   CA   Palo Alto (San Francisco)   Ground Lease (2054)     100.0 % Acquired 2003     98.0%     1,364,117   Neiman Marcus, Bloomingdale's, Nordstrom, Macy's (2 locations), Crate and Barrel, The Container Store(6)
135.   Stoneridge Shopping Center   CA   Pleasanton (San Francisco)   Fee     49.9 %(4) Acquired 2007     94.6%     1,302,341   Macy's (2 locations), Nordstrom, Sears, JCPenney
136.   Summit Mall   OH   Akron   Fee     100.0 % Built 1965     96.1%     769,087   Dillard's (2 locations), Macy's
137.   Sunland Park Mall   TX   El Paso   Fee     100.0 % Built 1988     95.1%     921,538   Macy's, Dillard's (2 locations), Sears, Forever 21,(8)
138.   Tacoma Mall   WA   Tacoma (Seattle)   Fee     100.0 % Acquired 1987     98.1%     1,325,740   Nordstrom, Macy's, JCPenney, Sears, David's Bridal, Forever 21
139.   Tippecanoe Mall   IN   Lafayette   Fee     100.0 % Built 1973     96.5%     863,501   Macy's, JCPenney, Sears, Kohl's, Dick's Sporting Goods, hhgregg
140.   Town Center at Aurora   CO   Aurora (Denver)   Fee     100.0 % Acquired 1998     88.3%     1,082,326   Macy's, Dillard's, JCPenney, Sears, Century Theatres

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Table of Contents

Simon Property Group, Inc. and Subsidiaries

Property Table

U.S. Properties

 
 
Property Name
  State   City (CBSA)   Ownership Interest
(Expiration if
Lease)(3)
  Legal Ownership   Year Built
or
Acquired
  Occupancy(5)   Total GLA   Retail Anchors and Selected Major Tenants
141.   Town Center at Boca Raton   FL   Boca Raton (Miami)   Fee     100.0 % Acquired 1998     99.1%     1,781,471   Saks Fifth Avenue, Neiman Marcus, Bloomingdale's, Nordstrom, Macy's, Sears, Crate & Barrel, The Container Store(6)
142.   Town Center at Cobb   GA   Kennesaw (Atlanta)   Fee     100.0 % Acquired 1998     95.0%     1,280,078   Belk, Macy's, JCPenney, Sears, Macy's Men's & Furniture
143.   Towne East Square   KS   Wichita   Fee     100.0 % Built 1975     96.4%     1,134,368   Dillard's, Von Maur, JCPenney, Sears
144.   Towne West Square   KS   Wichita   Fee     100.0 % Built 1980     92.5%     941,596   Dillard's (2 locations), JCPenney, Sears, Dick's Sporting Goods, The Movie Machine
145.   Treasure Coast Square   FL   Jensen Beach   Fee     100.0 % Built 1987     92.5%     875,657   Macy's, Dillard's, JCPenney, Sears, hhgregg, Regal Cinema
146.   Tyrone Square   FL   St. Petersburg (Tampa)   Fee     100.0 % Built 1972     96.0%     1,094,957   Macy's, Dillard's, JCPenney, Sears, DSW
147.   University Park Mall   IN   Mishawaka   Fee     100.0 % Built 1979     96.8%     922,304   Macy's, JCPenney, Sears, Barnes & Noble
148.   Upper Valley Mall   OH   Springfield   Fee     100.0 % Built 1971     79.6%     739,130   Macy's, JCPenney, Sears, Elder-Beerman, MC Sporting Goods, Chakeres Theatres
149.   Valle Vista Mall   TX   Harlingen   Fee     100.0 % Built 1983     71.7%     650,778   Dillard's, JCPenney, Sears, Big Lots, Forever 21
150.   Virginia Center Commons   VA   Glen Allen   Fee     100.0 % Built 1991     65.7%     774,489   Macy's, JCPenney, Sears, Burlington Coat Factory, American Family Fitness(6)
151.   Walt Whitman Shops   NY   Huntington Station (New York)   Fee and Ground Lease (2032)(7)     100.0 % Acquired 1998     89.8%     1,002,676   Saks Fifth Avenue, Bloomingdale's, Lord & Taylor, Macy's
152.   Washington Square   IN   Indianapolis   Fee     100.0 % Built 1974     77.2%     967,702   Sears, Target, Dick's Sporting Goods, Burlington Coat Factory, AMC Theatres,(11)
153.   West Ridge Mall   KS   Topeka   Fee     100.0 % Built 1988     88.4%     991,799   Dillard's, JCPenney, Sears, Burlington Coat Factory,(8)
154.   West Town Mall   TN   Knoxville   Ground Lease (2042)     50.0 %(4) Acquired 1991     100.0%     1,336,412   Belk (2 locations), Dillard's, JCPenney, Sears, Regal Cinema
155.   Westchester, The   NY   White Plains (New York)   Fee     40.0 %(4) Acquired 1997     98.1%     826,420   Neiman Marcus, Nordstrom
156.   Westminster Mall   CA   Westminster (Los Angeles)   Fee     100.0 % Acquired 1998     85.6%     1,191,526   Macy's, JCPenney, Sears, Target, DSW
157.   White Oaks Mall   IL   Springfield   Fee     80.7 % Built 1977     84.3%     941,271   Macy's, Bergner's, Sears, Dick's Sporting Goods, hhgregg, LA Fitness(6)
158.   Wolfchase Galleria   TN   Memphis   Fee     94.5 % Acquired 2002     96.3%     1,152,140   Macy's, Dillard's, JCPenney, Sears, Malco Theatres
159.   Woodfield Mall   IL   Schaumburg (Chicago)   Fee     50.0 %(4) Acquired 2012     94.9%     2,174,440   Nordstrom, Macy's, Lord & Taylor, JCPenney, Sears
160.   Woodland Hills Mall   OK   Tulsa   Fee     94.5 % Acquired 2002     98.0%     1,090,783   Macy's, Dillard's, JCPenney, Sears
                                         
    Total Mall GLA                             163,649,659 (16)  
                                         

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Table of Contents

Simon Property Group, Inc. and Subsidiaries

Property Table

U.S. Properties

 
 
Property Name
  State   City (CBSA)   Ownership Interest
(Expiration if
Lease)(3)
  Legal Ownership   Year Built
or
Acquired
  Occupancy(5)   Total GLA   Retail Anchors and Selected Major Tenants
 
  Premium Outlets
1.   Albertville Premium Outlets   MN   Albertville (Minneapolis)   Fee     100.0 % Acquired 2004     95.9%     429,564   Adidas, Ann Taylor, Banana Republic, Calvin Klein, Coach, Columbia Sportswear, Gap Outlet, Guess, Kenneth Cole, Michael Kors, Nautica, Nike, Polo Ralph Lauren, Tommy Hilfiger, Under Armour
2.   Allen Premium Outlets   TX   Allen (Dallas)   Fee     100.0 % Acquired 2004     99.8%     441,718   Adidas, Ann Taylor, Banana Republic, Brooks Brothers, Calvin Klein, Coach, Cole Haan, Columbia Sportswear, Gap Outlet, Guess, J.Crew, Michael Kors, Lacoste, Last Call by Neiman Marcus, Nike, Polo Ralph Lauren, Tommy Hilfiger
3.   Aurora Farms Premium Outlets   OH   Aurora (Cleveland)   Fee     100.0 % Acquired 2004     98.8%     290,520   Ann Taylor, Banana Republic, Brooks Brothers, Calvin Klein, Coach, Gap Outlet, Michael Kors, Nautica, Nike, Polo Ralph Lauren, Saks Fifth Avenue Off 5th, Tommy Hilfiger, Under Armour
4.   Birch Run Premium Outlets   MI   Birch Run (Detroit)   Fee     100.0 % Acquired 2010     91.6%     678,219   Adidas, Ann Taylor, Banana Republic, BCBG Max Azria, Brooks Brothers, Calvin Klein, Coach, Guess, J.Crew, Lacoste, Nike, The North Face, Polo Ralph Lauren, Puma, Tommy Hilfiger
5.   Calhoun Premium Outlets   GA   Calhoun   Fee     100.0 % Acquired 2010     90.9%     254,052   Ann Taylor, Carter's, Coach, Gap Outlet, Gymboree, Jones New York, Nike, Polo Ralph Lauren, Tommy Hilfiger
6.   Camarillo Premium Outlets   CA   Camarillo (Los Angeles)   Fee     100.0 % Acquired 2004     99.6%     674,099   Ann Taylor, Banana Republic, Brooks Brothers, Calvin Klein, Coach, Diesel, Forever 21, Giorgio Armani, Hugo Boss, Last Call by Neiman Marcus, Nike, Polo Ralph Lauren, Saks Fifth Avenue Off 5th, Sony, Tommy Hilfiger, Tory Burch
7.   Carlsbad Premium Outlets   CA   Carlsbad (San Diego)   Fee     100.0 % Acquired 2004     100.0%     288,384   Adidas, Banana Republic, BCBG Max Azria, Calvin Klein, Coach, Cole Haan, DKNY, Elie Tahari, Gap Outlet, Kenneth Cole, Lacoste, Michael Kors, Polo Ralph Lauren, Salvatore Ferragamo, Theory
8.   Carolina Premium Outlets   NC   Smithfield (Raleigh)   Fee     100.0 % Acquired 2004     99.5%     439,009   Adidas, Banana Republic, Brooks Brothers, Coach, Gap Outlet, J.Crew, Levi's, Nike, Polo Ralph Lauren, Talbots, Tommy Hilfiger, Under Armour
9.   Chicago Premium Outlets   IL   Aurora (Chicago)   Fee     100.0 % Built 2004     99.4%     437,332   Ann Taylor, Banana Republic, Brooks Brothers, Calvin Klein, Coach, Diesel, Elie Tahari, Gap Outlet, Giorgio Armani, J.Crew, Kate Spade New York, Lacoste, Michael Kors, Polo Ralph Lauren, Salvatore Ferragamo, Sony, Theory
10.   Cincinnati Premium Outlets   OH   Monroe (Cincinnati)   Fee     100.0 % Built 2009     100.0%     398,869   Adidas, Banana Republic, Brooks Brothers, Coach, Cole Haan, Gap Outlet, J.Crew, Kenneth Cole, Lacoste, Michael Kors, Nike, Polo Ralph Lauren, Saks Fifth Avenue Off 5th, Tommy Hilfiger, The North Face
11.   Clinton Crossing Premium Outlets   CT   Clinton   Fee     100.0 % Acquired 2004     100.0%     276,153   Ann Taylor, Banana Republic, Brooks Brothers, Calvin Klein, Coach, Cole Haan, Gap Outlet, J.Crew, Michael Kors, Nike, Polo Ralph Lauren, Saks Fifth Avenue Off 5th, Talbots, Tommy Hilfiger
12.   Columbia Gorge Premium Outlets   OR   Troutdale (Portland)   Fee     100.0 % Acquired 2004     93.2%     163,693   Adidas, Calvin Klein, Carter's, Coach, Eddie Bauer, Gap Outlet, Gymboree, Levi's, Samsonite, Tommy Hilfiger

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Table of Contents

Simon Property Group, Inc. and Subsidiaries

Property Table

U.S. Properties

 
 
Property Name
  State   City (CBSA)   Ownership Interest
(Expiration if
Lease)(3)
  Legal Ownership   Year Built
or
Acquired
  Occupancy(5)   Total GLA   Retail Anchors and Selected Major Tenants
13.   Desert Hills Premium Outlets   CA   Cabazon (Palm Springs)   Fee     100.0 % Acquired 2004     98.6%     501,600   Burberry, Coach, Dior, Elie Tahari, Giorgio Armani, Gucci, Lacoste, Last Call by Neiman Marcus, Nike, Polo Ralph Lauren, Prada, Saks Fifth Avenue Off 5th, Salvatore Ferragamo, Theory, Tory Burch, True Religion, Yves Saint Laurent, Zegna
14.   Edinburgh Premium Outlets   IN   Edinburgh (Indianapolis)   Fee     100.0 % Acquired 2004     100.0%     377,802   Adidas, Ann Taylor, Banana Republic, Calvin Klein, Coach, Coldwater Creek, DKNY, Gap Outlet, J.Crew, Levi's, Michael Kors, Nautica, Nike, Polo Ralph Lauren, Tommy Hilfiger, White House Black Market
15.   Ellenton Premium Outlets   FL   Ellenton (Tampa)   Fee     100.0 % Acquired 2010     99.6%     476,714   Ann Taylor, Adidas, Banana Republic, Calvin Klein, Coach, DKNY, J.Crew, Kate Spade New York, Kenneth Cole, Lacoste, Lucky Brand, Michael Kors, Movado, Nike, Puma, Saks Fifth Avenue Off 5th
16.   Folsom Premium Outlets   CA   Folsom (Sacramento)   Fee     100.0 % Acquired 2004     96.6%     298,071   BCBG Max Azria, Banana Republic, Brooks Brothers, Calvin Klein, Coach, Forever 21, Gap Outlet, Guess, Kenneth Cole, Loft Outlet, Nautica, Nike, Saks Fifth Avenue Off 5th, Tommy Hilfiger
17.   Gaffney Premium Outlets   SC   Gaffney (Greenville/Charlotte)   Fee     100.0 % Acquired 2010     94.1%     359,734   Adidas, Ann Taylor, Banana Republic, BCBG Max Azria, Brooks Brothers, Coach, Gap Outlet, J.Crew, Juicy Couture, Michael Kors, Nautica, Nike, Polo Ralph Lauren
18.   Gilroy Premium Outlets   CA   Gilroy (San Jose)   Fee     100.0 % Acquired 2004     98.4%     577,856   Adidas, Ann Taylor, Banana Republic, Brooks Brothers, Calvin Klein, Coach, Elie Tahari, Forever 21, J.Crew, Hugo Boss, Michael Kors, Nike, Polo Ralph Lauren, Saks Fifth Avenue Off 5th, Sony, Tommy Hilfiger, True Religion
19.   Grand Prairie Premium Outlets   TX   Grand Prairie (Dallas)   Fee     100.0 % Acquired 2012     100.0%     417,423   Bloomingdale's The Outlet Store, Coach, Cole Haan, DKNY, Hugo Boss, Kate Spade New York, J.Crew, Lucky Brand, Michael Kors, Nike, Saks Fifth Avenue Off 5th, Talbots, Tommy Hilfiger, Vince Camuto
20.   Grove City Premium Outlets   PA   Grove City (Pittsburgh)   Fee     100.0 % Acquired 2010     97.9%     531,721   American Eagle, Ann Taylor, Banana Republic, BCBG Max Azria, Brooks Brothers, Calvin Klein, Coach, Gap Outlet, Guess, J.Crew, Nike, Polo Ralph Lauren, Under Armour, Vera Bradley
21.   Gulfport Premium Outlets   MS   Gulfport   Ground Lease (2059)     100.0 % Acquired 2010     98.4%     299,604   Ann Taylor, Banana Republic, BCBG Max Azria, Coach, Gap Outlet, J.Crew, Jones New York, Nautica, Nike, Polo Ralph Lauren, Talbots, Timberland, Tommy Hilfiger, Under Armour
22.   Hagerstown Premium Outlets   MD   Hagerstown (Baltimore/Washington DC)   Fee     100.0 % Acquired 2010     98.2%     484,968   Adidas, Banana Republic, Brooks Brothers, Calvin Klein, Coach, Gap Outlet, Guess, J.Crew, Kate Spade New York, Lee Jeans, Nike, Timberland, Tommy Hilfiger, Under Armour
23.   Houston Premium Outlets   TX   Cypress (Houston)   Fee     100.0 % Built 2008     100.0%     541,576   Ann Taylor, A/X Armani Exchange, Banana Republic, Burberry, Calvin Klein, Coach, Cole Haan, DKNY, Elie Tahari, Gap Outlet, J.Crew, Juicy Couture, Lucky Brand, Michael Kors, Nike, Saks Fifth Avenue Off 5th, Tommy Hilfiger, Tory Burch
24.   Jackson Premium Outlets   NJ   Jackson (New York)   Fee     100.0 % Acquired 2004     99.1%     285,673   Ann Taylor, Banana Republic, Brooks Brothers, Calvin Klein, Coach, Gap Outlet, Guess, J.Crew, Lucky Brand, Nautica, Nike, Polo Ralph Lauren, Reebok, Timberland, Tommy Hilfiger, Under Armour
25.   Jersey Shore Premium Outlets   NJ   Tinton Falls (New York)   Fee     100.0 % Built 2008     100.0%     434,474   Adidas, Ann Taylor, Banana Republic, Burberry, Brooks Brothers, Coach, DKNY, Elie Tahari, Guess, J.Crew, Kate Spade New York, Lacoste, Michael Kors, Nike, Theory, Tommy Hilfiger, True Religion, Under Armour
26.   Johnson Creek Premium Outlets   WI   Johnson Creek   Fee     100.0 % Acquired 2004     93.6%     276,373   Adidas, Ann Taylor, Banana Republic, Calvin Klein, Columbia Sportswear, Eddie Bauer, Gap Outlet, Nike, Polo Ralph Lauren, Tommy Hilfiger, Under Armour
27.   Kittery Premium Outlets   ME   Kittery   Fee and Ground Lease (2014)(7)     100.0 % Acquired 2004     99.3%     264,951   Adidas, Banana Republic, Calvin Klein, Chico's, Coach, Columbia Sportswear, Gap Outlet, J.Crew, Movado, Nike, Polo Ralph Lauren, Puma, Reebok, Tommy Hilfiger

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Table of Contents

Simon Property Group, Inc. and Subsidiaries

Property Table

U.S. Properties

 
 
Property Name
  State   City (CBSA)   Ownership Interest
(Expiration if
Lease)(3)
  Legal Ownership   Year Built
or
Acquired
  Occupancy(5)   Total GLA   Retail Anchors and Selected Major Tenants
28.   Las Americas Premium Outlets   CA   San Diego   Fee     100.0 % Acquired 2007     99.6%     554,966   Aeropostale, Ann Taylor, Banana Republic, Brooks Brothers, Calvin Klein, Coach, Gap Outlet, Guess, Hugo Boss, J.Crew, Nike, Polo Ralph Lauren, Reebok, Sony, Tommy Bahama, Tommy Hilfiger, True Religion
29.   Las Vegas Premium Outlets — North   NV   Las Vegas   Fee     100.0 % Built 2003     99.8%     538,689   A/X Armani Exchange, Ann Taylor, Banana Republic, Burberry, Coach, David Yurman, Diesel, Dolce & Gabbana, Elie Tahari, Etro, Hugo Boss, Lacoste, Nike, Polo Ralph Lauren, Salvatore Ferragamo, St. John, TAG Heuer, Ted Baker, True Religion
30.   Las Vegas Premium Outlets — South   NV   Las Vegas   Fee     100.0 % Acquired 2004     99.0%     535,466   Adidas, Aeropostale, Ann Taylor, Banana Republic, Bose, Brooks Brothers, Calvin Klein, Coach, DKNY, Gap Outlet, Kenneth Cole, Levi's, Michael Kors, Nautica, Nike, Polo Ralph Lauren, Reebok, Tommy Hilfiger
31.   Lebanon Premium Outlets   TN   Lebanon (Nashville)   Fee     100.0 % Acquired 2010     94.2%     226,961   Aeropostale, Ann Taylor, Banana Republic, Brooks Brothers, Coach, Eddie Bauer, Gap Outlet, Loft Outlet, Nike, Polo Ralph Lauren, Reebok, Samsonite, Tommy Hilfiger, Van Heusen
32.   Lee Premium Outlets   MA   Lee   Fee     100.0 % Acquired 2010     99.8%     224,587   Ann Taylor, Banana Republic, Brooks Brothers, Calvin Klein, Chico's, Coach, Cole Haan, J.Crew, Lacoste, Levi's, Michael Kors, Nike, Polo Ralph Lauren, Talbots, Tommy Hilfiger, Under Armour
33.   Leesburg Corner Premium Outlets   VA   Leesburg (Washington D.C.)   Fee     100.0 % Acquired 2004     99.1%     518,003   Ann Taylor, Brooks Brothers, Burberry, Coach, Diesel, DKNY, Elie Tahari, Hugo Boss, Juicy Couture, Lacoste, Nike, Polo Ralph Lauren, Restoration Hardware, Saks Fifth Avenue Off 5th, Under Armour, Vera Bradley, Williams-Sonoma
34.   Liberty Village Premium Outlets   NJ   Flemington (New York)   Fee     100.0 % Acquired 2004     77.5%     164,698   Ann Taylor, Brooks Brothers, Calvin Klein, Coach, G.H. Bass & Co., J.Crew, Michael Kors, Nautica, Nike, Polo Ralph Lauren, Timberland, Tommy Hilfiger, Van Heusen, Zales Outlet
35.   Lighthouse Place Premium Outlets   IN   Michigan City   Fee     100.0 % Acquired 2004     98.7%     454,566   Adidas, Ann Taylor, Banana Republic, BCBG Max Azria, Burberry, Calvin Klein, Coach, Coldwater Creek, Columbia Sportswear, DKNY, Gap Outlet, Guess, J.Crew, Movado, Nike, Polo Ralph Lauren, Tommy Hilfiger
36.   Livermore Premium Outlets   CA   Livermore (San Francisco)   Fee and Ground Lease (2021)(10)     100.0 % Acquired 2012     100.0%     511,811   Armani, Barneys New York, Bloomingdale's The Outlet Store, Coach, DKNY, Elie Tahari, Kate Spade New York, J.Crew, Lacoste, Last Call by Neiman Marcus, MaxMara, Michael Kors, Prada, Saks Fifth Avenue Off 5th, Tommy Hilfiger
37.   Merrimack Premium Outlets   NH   Merrimack   Fee     100.0 % Built 2012     98.4%     409,081   Ann Taylor, Banana Republic, Bloomingdale's The Outlet Store, Brooks Brothers, Calvin Klein, Coach, Cole Haan, Gap Factory Store, J.Crew, Michael Kors, Nike, Polo Ralph Lauren, Saks Fifth Avenue Off 5th, Talbots, Tommy Hilfiger, Under Armour, White House Black Market
38.   Napa Premium Outlets   CA   Napa   Fee     100.0 % Acquired 2004     95.2%     179,288   Ann Taylor, Banana Republic, BCBG Max Azria, Brooks Brothers, Calvin Klein, Coach, Cole Haan, Gap Outlet, J.Crew, Lucky Brand, Nautica, Tommy Hilfiger
39.   North Bend Premium Outlets   WA   North Bend (Seattle)   Fee     100.0 % Acquired 2004     95.4%     223,561   Adidas, Banana Republic, Carter's, Coach, Eddie Bauer, Gap Outlet, G.H. Bass & Co., Izod, Nike, Nine West, PacSun, Tommy Hilfiger, Under Armour, Van Heusen, VF Outlet

23


Table of Contents

Simon Property Group, Inc. and Subsidiaries

Property Table

U.S. Properties

 
 
Property Name
  State   City (CBSA)   Ownership Interest
(Expiration if
Lease)(3)
  Legal Ownership   Year Built
or
Acquired
  Occupancy(5)   Total GLA   Retail Anchors and Selected Major Tenants
40.   North Georgia Premium Outlets   GA   Dawsonville (Atlanta)   Fee     100.0 % Acquired 2004     99.0%     540,275   Ann Taylor, Banana Republic, Brooks Brothers, Burberry, Calvin Klein, Coach, Cole Haan, Elie Tahari, Hugo Boss, J.Crew, Michael Kors, Nike, Polo Ralph Lauren, Restoration Hardware, Saks Fifth Avenue Off 5th, Talbots, Tommy Hilfiger, Williams-Sonoma
41.   Orlando Premium Outlets — International Dr   FL   Orlando   Fee     100.0 % Acquired 2010     100.0%     773,409   7 For All Mankind, Adidas, Banana Republic, Calvin Klein, Coach, DKNY, Escada, Forever 21, J.Crew, Kenneth Cole, Lacoste, Last Call by Neiman Marcus, Michael Kors, The North Face, Polo Ralph Lauren, Saks Fifth Avenue Off 5th, Tommy Hilfiger, True Religion, Victoria's Secret
42.   Orlando Premium Outlets — Vineland Ave   FL   Orlando   Fee     100.0 % Acquired 2004     100.0%     549,651   Adidas, A/X Armani Exchange, Brunello Cucinelli, Burberry, Calvin Klein, Coach, Cole Haan, Diesel, Fendi, Giorgio Armani, Hugo Boss, J.Crew, Lacoste, Marni, Michael Kors, Nike, Polo Ralph Lauren, Roberto Cavalli, Salvatore Ferragamo, TAG Heuer, Theory, Tod's, Tory Burch, Vera Bradley
43.   Osage Beach Premium Outlets   MO   Osage Beach   Fee     100.0 % Acquired 2004     90.9%     392,711   Adidas, Ann Taylor, Banana Republic, Brooks Brothers, Calvin Klein, Coach, Coldwater Creek, Eddie Bauer, Gap Outlet, Levi's, Nike, Polo Ralph Lauren, Tommy Hilfiger
44.   Petaluma Village Premium Outlets   CA   Petaluma (San Francisco)   Fee     100.0 % Acquired 2004     94.8%     195,738   Ann Taylor, Banana Republic, BCBG Max Azria, Brooks Brothers, Coach, Gap Outlet, Nike, Puma, Saks Fifth Avenue Off 5th, Tommy Hilfiger
45.   Philadelphia Premium Outlets   PA   Limerick (Philadelphia)   Fee     100.0 % Built 2007     98.9%     549,137   Adidas, Ann Taylor, Banana Republic, Brooks Brothers, Calvin Klein, Coach, Cole Haan, DKNY, Elie Tahari, Gap Outlet, Guess, J.Crew, Last Call by Neiman Marcus, Michael Kors, Nike, Polo Ralph Lauren, Restoration Hardware, Sony, Vera Bradley
46.   Pismo Beach Premium Outlets   CA   Pismo Beach   Fee     100.0 % Acquired 2010     98.2%     147,416   Aeropostale, Calvin Klein, Carter's, Coach, G.H. Bass & Co., Guess, Jones New York, Levi's, Nike, Nine West, Polo Ralph Lauren, Tommy Hilfiger, Van Heusen
47.   Pleasant Prairie Premium Outlets   WI   Pleasant Prairie (Chicago, IL — Milwaukee)   Fee     100.0 % Acquired 2010     97.4%     402,399   Adidas, Ann Taylor, Banana Republic, Calvin Klein, Coach, Cole Haan, Gap Outlet, Hugo Boss, J.Crew, Juicy Couture, Lacoste, Michael Kors, Nike, Polo Ralph Lauren, Sony, St. John, Under Armour
48.   Puerto Rico Premium Outlets   PR   Barceloneta   Fee     100.0 % Acquired 2010     94.8%     344,902   Adidas, American Eagle Outfitters, Ann Taylor, Banana Republic, BCBG Max Azria, Calvin Klein, Coach, Gap Outlet, Guess, Kenneth Cole, Lacoste, Michael Kors, Nautica, Nike, Nine West, Polo Ralph Lauren, Puma, Tommy Hilfiger
49.   Queenstown Premium Outlets   MD   Queenstown (Baltimore)   Fee     100.0 % Acquired 2010     100.0%     289,305   Adidas, Banana Republic, Brooks Brothers, Calvin Klein, Coach, Columbia sportswear, Gucci, J.Crew, Juicy Couture, Kate Spade New York, Loft Outlet, Michael Kors, Nike, Polo Ralph Lauren, Talbots

24


Table of Contents

Simon Property Group, Inc. and Subsidiaries

Property Table

U.S. Properties

 
 
Property Name
  State   City (CBSA)   Ownership Interest
(Expiration if
Lease)(3)
  Legal Ownership   Year Built
or
Acquired
  Occupancy(5)   Total GLA   Retail Anchors and Selected Major Tenants
50.   Rio Grande Valley Premium Outlets   TX   Mercedes (McAllen)   Fee     100.0 % Built 2006     97.1%     604,105   Adidas, Aeropostale, American Eagle, Ann Taylor, Banana Republic, BCBG Max Azria, Burberry, Calvin Klein, Coach, Cole Haan, DKNY, Gap Outlet, Guess, Hugo Boss, Loft Outlet, Nike, Polo Ralph Lauren, Saks Fifth Avenue Off 5th, Sony, Tommy Hilfiger, True Religion, VF Outlet
51.   Round Rock Premium Outlets   TX   Round Rock (Austin)   Fee     100.0 % Built 2006     97.7%     488,660   Adidas, Ann Taylor, Banana Republic, Brooks Brothers, Burberry, Calvin Klein, Coach, Gap Outlet, Guess, J.Crew, Michael Kors, Nike, Polo Ralph Lauren, Theory, Tommy Hilfiger
52.   San Marcos Premium Outlets   TX   San Marcos (Austin — San Antonio)   Fee     100.0 % Acquired 2010     98.1%     731,134   Banana Republic, Cole Haan, Diane Von Furstenberg, Fendi, Giorgio Armani, Gucci, Hugo Boss, J. Crew, Kate Spade, Lacoste, Last Call by Neiman Marcus, Michael Kors, Pottery Barn, Prada, Restoration Hardware, Saks Fifth Avenue Off 5th, Salvatore Ferragamo, Tommy Bahama, Ugg, Victoria's Secret
53.   Seattle Premium Outlets   WA   Tulalip (Seattle)   Ground Lease (2079)     100.0 % Built 2005     100.0%     451,073   Adidas, Ann Taylor, Banana Republic, Burberry, Calvin Klein, Coach, Elie Tahari, Hugo Boss, J.Crew, Juicy Couture, Michael Kors, Nike, Polo Ralph Lauren, Restoration Hardware, Sony, Tommy Bahama, Tommy Hilfiger
54.   Silver Sands Premium Outlets   FL   Destin   Fee     50.0 %(4) Acquired 2012     93.1%     451,069   Adidas, Ann Taylor, Banana Republic, Brooks Brothers, Coach, Cole Haan, DKNY, Dooney & Bourke, J.Crew, Kenneth Cole, Michael Kors, Movado, Nautica, Nike, Saks Fifth Avenue Off 5th, Tommy Hilfiger
55.   St. Augustine Premium Outlets   FL   St. Augustine (Jacksonville)   Fee     100.0 % Acquired 2004     99.1%     328,570   Adidas, Ann Taylor, Banana Republic, Brooks Brothers, Calvin Klein, Coach, Gap Outlet, J.Crew, Movado, Nike, Polo Ralph Lauren, Reebok, Tommy Bahama, Tommy Hilfiger, Under Armour
56.   Tanger Outlets — Galveston/Houston(1)   TX   Texas City (Galveston)   Fee     50.0 %(4) Built 2012     92.7%     352,705   Banana Republic, Brooks Brothers, Coach, Gap Factory Store, J. Crew, Kenneth Cole, Michael Kors, Nike, Reebok, Tommy Hilfiger, White House Black Market
57.   The Crossings Premium Outlets   PA   Tannersville   Fee and Ground Lease (2019)(7)     100.0 % Acquired 2004     99.4%     411,216   American Eagle Outfitters, Ann Taylor, Banana Republic, Brooks Brothers, Calvin Klein, Coach, Coldwater Creek, Guess, J.Crew, Nike, Polo Ralph Lauren, Reebok, Timberland, Tommy Hilfiger, Under Armour
58.   Vacaville Premium Outlets   CA   Vacaville   Fee     100.0 % Acquired 2004     100.0%     437,220   Adidas, Ann Taylor, Banana Republic, Burberry, Calvin Klein, Coach, Cole Haan, Columbia Sportswear, DKNY, Gucci, J.Crew, Michael Kors, Nike, Polo Ralph Lauren, Restoration Hardware, Tommy Bahama, Tommy Hilfiger
59.   Waikele Premium Outlets   HI   Waipahu (Honolulu)   Fee     100.0 % Acquired 2004     100.0%     209,732   A/X Armani Exchange, Banana Republic, Calvin Klein, Coach, Guess, Michael Kors, Polo Ralph Lauren, Saks Fifth Avenue Off 5th, Tommy Bahama, Tommy Hilfiger, True Religion, Zales Outlet
60.   Waterloo Premium Outlets   NY   Waterloo   Fee     100.0 % Acquired 2004     99.0%     417,734   Adidas, Ann Taylor, Banana Republic, Brooks Brothers, Calvin Klein, Coach, Columbia Sportswear, Gap Outlet, J.Crew, Levi's, Nike, Polo Ralph Lauren, Tommy Hilfiger, Under Armour, VF Outlet
61.   Williamsburg Premium Outlets   VA   Williamsburg   Fee     100.0 % Acquired 2010     97.2%     521,879   Ann Taylor, Banana Republic, Burberry, Coach, Cole Haan, Dooney & Bourke, Hugo Boss, J.Crew, Juicy Couture, Kenneth Cole, Lacoste, Michael Kors, Nautica, Nike, Polo Ralph Lauren, Talbots, The North Face
62.   Woodbury Common Premium Outlets   NY   Central Valley (New York)   Fee     100.0 % Acquired 2004     99.4%     847,650   Banana Republic, Burberry, Chloe, Coach, Dior, Dolce & Gabbana, Fendi, Giorgio Armani, Gucci, Lacoste, Last Call by Neiman Marcus, Nike, Oscar de la Renta, Polo Ralph Lauren, Prada, Reed Krakoff, Saks Fifth Avenue Off 5th, Salvatore Ferragamo, Theory, Tom Ford, Tory Burch, Valentino, Versace, Yves St. Laurent
63.   Wrentham Village Premium Outlets   MA   Wrentham (Boston)   Fee     100.0 % Acquired 2004     100.0%     660,096   Ann Taylor, Banana Republic, Bloomingdale's The Outlet Store, Brooks Brothers, Burberry, Calvin Klein, Coach, Cole Haan, Elie Tahari, Hugo Boss, J.Crew, Lacoste, Movado, Nike, Polo Ralph Lauren, Saks Fifth Avenue Off 5th, Salvatore Ferragamo, Sony, Williams-Sonoma, Theory, Tommy Hilfiger, Tory Burch, True Religion, Under Armour
                                         
    Total U.S. Premium Outlets GLA                         26,539,615    
                                         

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Table of Contents

Simon Property Group, Inc. and Subsidiaries

Property Table

U.S. Properties

 
 
Property Name
  State   City (CBSA)   Ownership Interest
(Expiration if
Lease)(3)
  Legal Ownership   Year Built
or
Acquired
  Occupancy(5)   Total GLA   Retail Anchors and Selected Major Tenants
 
  Community/Lifestyle Centers
1.   ABQ Uptown   NM   Albuquerque   Fee     100.0 % Acquired 2011     99.5%     230,129    
2.   Arboretum   TX   Austin   Fee     100.0 % Acquired 1998     96.2%     198,287   Barnes & Noble, Pottery Barn
3.   Arundel Mills Marketplace   MD   Hanover (Baltimore)   Fee     59.3 %(4) Acquired 2007     100.0%     101,535   Michaels, Staples, PetSmart, hhgregg
4.   Bloomingdale Court   IL   Bloomingdale (Chicago)   Fee     100.0 % Built 1987     98.0%     616,613   Best Buy, T.J. Maxx N More, Office Max, Walmart Supercenter, Dick's Sporting Goods, Jo-Ann Fabrics, Picture Show, Ross Dress for Less, hhgregg
5.   Charles Towne Square   SC   Charleston   Fee     100.0 % Built 1976     100.0%     71,794   Regal Cinema
6.   Chesapeake Center   VA   Chesapeake (Virginia Beach)   Fee     100.0 % Built 1989     96.1%     305,935   Kmart, Petsmart, Michaels, Value City Furniture
7.   Clay Terrace   IN   Carmel (Indianapolis)   Fee     50.0 %(4) Built 2004     97.8%     576,795   Dick's Sporting Goods, Whole Foods, DSW, Snapperz
8.   Cobblestone Court   NY   Victor   Fee     35.7 %(4)(13) Built 1993     99.4%     265,470   Dick's Sporting Goods, Kmart, Office Max
9.   Concord Mills Marketplace   NC   Concord (Charlotte)   Fee     100.0 % Acquired 2007     100.0%     230,683   BJ's Wholesale Club, Garden Ridge, REC Warehouse
10.   Countryside Plaza   IL   Countryside (Chicago)   Fee     100.0 % Built 1977     98.3%     403,756   Best Buy, The Home Depot, PetsMart, Jo-Ann Fabrics, Office Depot, Value City Furniture, The Tile Shop
11.   Crystal Court   IL   Crystal Lake (Chicago)   Fee     37.9 %(4)(13) Built 1989     80.2%     285,398   Big Lots
12.   Dare Centre   NC   Kill Devil Hills   Ground Lease (2058)     100.0 % Acquired 2004     96.1%     168,674   Belk, Food Lion
13.   DeKalb Plaza   PA   King of Prussia (Philadelphia)   Fee     84.0 % Acquired 2003     85.9%     102,032   ACME Grocery,(8)
14.   Denver West Village   CO   Lakewood (Denver)   Fee     37.5 %(4) Acquired 2007     99.0%     310,709   Barnes & Noble, Bed Bath & Beyond, Office Max, Whole Foods, DSW, Christy Sports, United Artists, Cost Plus World Market(6), Marshalls(6)
15.   Empire East   SD   Sioux Falls   Fee     100.0 % Acquired 1998     100.0%     287,552   Kohl's, Target, Bed Bath & Beyond
16.   Fairfax Court   VA   Fairfax (Washington, D.C.)   Fee     41.3 %(4)(13) Built 1992     100.0%     249,488   Burlington Coat Factory, Offenbacher's, XSport Fitness
17.   Forest Plaza   IL   Rockford   Fee     100.0 % Built 1985     100.0%     428,044   Kohl's, Marshalls, Michaels, Factory Card Outlet, Office Max, Bed Bath & Beyond, Petco, Babies 'R Us, Toys 'R Us, Big Lots
18.   Gaitway Plaza   FL   Ocala   Fee     32.2 %(4)(13) Built 1989     99.1%     208,755   Books-A-Million, Office Depot, T.J. Maxx, Ross Dress for Less, Bed Bath & Beyond
19.   Gateway Centers   TX   Austin   Fee     100.0 % Acquired 2004     74.7%     511,706   Best Buy, REI, Whole Foods, Crate & Barrel, The Container Store, Regal Cinema, Nordstrom Rack,(8)
20.   Great Lakes Plaza   OH   Mentor (Cleveland)   Fee     100.0 % Built 1976     100.0%     164,369   Michaels, Best Buy, hhgregg
21.   Greenwood Plus   IN   Greenwood (Indianapolis)   Fee     100.0 % Built 1979     100.0%     155,319   Best Buy, Kohl's

26


Table of Contents

Simon Property Group, Inc. and Subsidiaries

Property Table

U.S. Properties

 
 
Property Name
  State   City (CBSA)   Ownership Interest
(Expiration if
Lease)(3)
  Legal Ownership   Year Built
or
Acquired
  Occupancy(5)   Total GLA   Retail Anchors and Selected Major Tenants
22.   Hamilton Town Center   IN   Noblesville (Indianapolis)   Fee     50.0 %(4) Built 2008     95.8%     666,379   JCPenney, Dick's Sporting Goods, Stein Mart, Bed Bath & Beyond, DSW, Hamilton 16 IMAX, Earth Fare
23.   Henderson Square   PA   King of Prussia (Philadelphia)   Fee     75.9 %(15) Acquired 2003     96.5%     107,371   Genuardi's Family Market, Avalon Carpet & Tile
24.   Highland Lakes Center   FL   Orlando   Fee     100.0 % Built 1991     80.1%     488,850   Marshalls, American Signature Furniture, Ross Dress for Less, Burlington Coat Factory,(8)
25.   Indian River Commons   FL   Vero Beach   Fee     50.0 %(4) Built 1997     100.0%     255,942   Lowe's Home Improvement, Best Buy, Ross Dress for Less, Bed Bath & Beyond, Michaels
26.   Keystone Shoppes   IN   Indianapolis   Fee     100.0 % Acquired 1997     82.1%     29,140    
27.   Lake Plaza   IL   Waukegan (Chicago)   Fee     100.0 % Built 1986     100.0%     215,568   Home Owners Bargain Outlet
28.   Lake View Plaza   IL   Orland Park (Chicago)   Fee     100.0 % Built 1986     92.3%     367,449   Best Buy, Petco, Jo-Ann Fabrics, Golf Galaxy, Value City Furniture, Tuesday Morning, Great Escape,(8)
29.   Lakeline Plaza   TX   Cedar Park (Austin)   Fee     100.0 % Built 1998     100.0%     387,381   T.J. Maxx, Best Buy, Ross Dress for Less, Office Max, PetsMart, Party City, Hancock Fabrics, Rooms to Go, Rooms to Go Kids, Bed Bath & Beyond,(11)
30.   Lima Center   OH   Lima   Fee     100.0 % Built 1978     95.4%     233,878   Kohl's, Hobby Lobby, T.J. Maxx, Jo-Ann Fabrics
31.   Lincoln Crossing   IL   O'Fallon (St. Louis)   Fee     100.0 % Built 1990     90.5%     243,326   Walmart, PetsMart, The Home Depot
32.   Lincoln Plaza   PA   King of Prussia (Philadelphia)   Fee     64.9 %(15) Acquired 2003     99.2%     267,885   AC Moore, Michaels, T.J. Maxx, Home Goods, hhgregg, American Signature Furniture, DSW,(8)
33.   MacGregor Village   NC   Cary   Fee     100.0 % Acquired 2004     55.7%     144,197    
34.   Mall of Georgia Crossing   GA   Buford (Atlanta)   Fee     100.0 % Built 1999     99.1%     440,670   Best Buy, American Signature Furniture, T.J. Maxx 'n More, Nordstrom Rack, Staples, Target
35.   Markland Plaza   IN   Kokomo   Fee     100.0 % Built 1974     91.6%     90,527   Best Buy, Bed Bath & Beyond
36.   Martinsville Plaza   VA   Martinsville   Ground Lease (2046)     100.0 % Built 1967     97.1%     102,105   Rose's, Food Lion
37.   Matteson Plaza   IL   Matteson (Chicago)   Fee     100.0 % Built 1988     98.5%     270,892   Dominick's, Shoppers World
38.   Muncie Towne Plaza   IN   Muncie   Fee     100.0 % Built 1998     100.0%     172,617   Kohl's, Target, Shoe Carnival, T.J. Maxx, MC Sporting Goods, Kerasotes Theatres,(8)
39.   Naples Outlet Center   FL   Naples   Fee     100.0 % Acquired 2010     67.0%     146,048   Ann Taylor, Bass, Coach, Jones New York, L'eggs/Hanes/Bali/Playtex, Loft Outlet, Samsonite, Van Heusen
40.   New Castle Plaza   IN   New Castle   Fee     100.0 % Built 1966     100.0%     91,648   Goody's, Ace Hardware, Aaron's Rents, Dollar Tree

27


Table of Contents

Simon Property Group, Inc. and Subsidiaries

Property Table

U.S. Properties

 
 
Property Name
  State   City (CBSA)   Ownership Interest
(Expiration if
Lease)(3)
  Legal Ownership   Year Built
or
Acquired
  Occupancy(5)   Total GLA   Retail Anchors and Selected Major Tenants
41.   North Ridge Plaza   IL   Joliet (Chicago)   Fee     100.0 % Built 1985     98.0%     305,701   Hobby Lobby, Office Max, Burlington Coat Factory, Ultra Foods Grocery, Marshalls
42.   North Ridge Shopping Center   NC   Raleigh   Fee     100.0 % Acquired 2004     98.1%     169,809   Ace Hardware, Kerr Drugs, Harris-Teeter Grocery
43.   Northwood Plaza   IN   Fort Wayne   Fee     100.0 % Built 1974     87.2%     208,076   Target,(8)
44.   Palms Crossing   TX   McAllen   Fee     100.0 % Built 2007     100.0%     392,293   Bealls, DSW, Barnes & Noble, Babies 'R Us, Sports Authority, Guitar Center, Cavendar's Boot City, Best Buy, Hobby Lobby
45.   Pier Park   FL   Panama City Beach   Fee     65.6 %(4) Built 2008     98.5%     842,216   Dillard's, JCPenney, Target, Grand Theatres, Ron Jon Surf Shop, Margaritaville, Marshalls, Forever 21
46.   Plaza at Buckland Hills, The   CT   Manchester   Fee     41.3 %(4)(13) Built 1993     93.3%     329,976   Jo-Ann Fabrics, iParty, Toys 'R Us, Michaels, PetsMart, Big Lots, Eastern Mountain Sports
47.   Regency Plaza   MO   St. Charles (St. Louis)       100.0 %(17) Built 1988     100.0%     287,473    
48.   Richardson Square   TX   Richardson (Dallas)   Fee     100.0 % Built 2008     100.0%     517,265   Lowe's Home Improvement, Ross Dress for Less, Sears, Super Target, Anna's Linens
49.   Ridgewood Court   MS   Jackson   Fee     35.7 %(4)(13) Built 1993     96.0%     369,473   T.J. Maxx, Sam's Wholesale Club, Bed Bath & Beyond, Best Buy, Ross Dress for Less, Marshalls
50.   Rockaway Commons   NJ   Rockaway (New York)   Fee     100.0 % Acquired 1998     48.3%     149,940   Best Buy,(8)
51.   Rockaway Town Plaza   NJ   Rockaway (New York)   Fee     100.0 % Acquired 1998     100.0%     459,301   Target, PetsMart, Dick's Sporting Goods, AMC Theatres
52.   Royal Eagle Plaza   FL   Coral Springs (Miami)   Fee     42.0 %(4)(13) Built 1989     79.7%     202,996   Sports Authority,(8)
53.   Shops at Arbor Walk, The   TX   Austin   Ground Lease (2056)     100.0 % Built 2006     99.4%     458,470   The Home Depot, Marshalls, DSW, Vitamin Cottage Natural Grocer, Spec's Wine, Spirits and Fine Foods, Jo-Ann Fabrics, Sam Moon Trading Co., Casual Male DXL
54.   Shops at North East Mall, The   TX   Hurst (Dallas)   Fee     100.0 % Built 1999     100.0%     365,008   Michaels, PetsMart, T.J. Maxx, Bed Bath & Beyond, Best Buy, Barnes & Noble, DSW
55.   St. Charles Towne Plaza   MD   Waldorf (Washington, D.C.)   Fee     100.0 % Built 1987     76.3%     393,808   K & G Menswear, Shoppers Food Warehouse, Dollar Tree, Value City Furniture, Big Lots, Citi Trends,(8)
56.   Terrace at the Florida Mall   FL   Orlando   Fee     100.0 % Built 1989     77.6%     346,692   Marshalls, American Signature Furniture, Global Import, Target, Bed Bath & Beyond,(8)

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Table of Contents

Simon Property Group, Inc. and Subsidiaries

Property Table

U.S. Properties

 
 
Property Name
  State   City (CBSA)   Ownership Interest
(Expiration if
Lease)(3)
  Legal Ownership   Year Built
or
Acquired
  Occupancy(5)   Total GLA   Retail Anchors and Selected Major Tenants
57.   Tippecanoe Plaza   IN   Lafayette   Fee     100.0 % Built 1974     100.0%     90,522   Best Buy, Barnes & Noble
58.   University Center   IN   Mishawaka   Fee     100.0 % Built 1980     88.1%     150,524   Michaels, Best Buy, Ross Dress for Less(6)
59.   Village Park Plaza   IN   Carmel (Indianapolis)   Fee     35.7 %(4)(13) Built 1990     100.0%     575,578   Bed Bath & Beyond, Kohl's, Walmart Supercenter, Marsh, Menards, Regal Cinema, Hobby Lobby
60.   Washington Plaza   IN   Indianapolis   Fee     100.0 % Built 1976     96.4%     50,107   Jo-Ann Fabrics
61.   Waterford Lakes Town Center   FL   Orlando   Fee     100.0 % Built 1999     99.0%     949,984   Ross Dress for Less, T.J. Maxx, Bed Bath & Beyond, Barnes & Noble, Best Buy, Jo-Ann Fabrics, Office Max, PetsMart, Target, Ashley Furniture Home Store, L.A. Fitness, Regal Cinema
62.   West Ridge Plaza   KS   Topeka   Fee     100.0 % Built 1988     100.0%     254,480   T.J. Maxx, Toys 'R Us/Babies 'R Us, Target
63.   West Town Corners   FL   Altamonte Springs (Orlando)   Fee     32.2 %(4)(13) Built 1989     93.9%     385,352   Sports Authority, PetsMart, Winn-Dixie Marketplace, American Signature Furniture, Walmart, Lowe's Home Improvement
64.   Westland Park Plaza   FL   Orange Park (Jacksonville)   Fee     32.2 %(4)(13) Built 1989     98.8%     163,254   Burlington Coat Factory, LA Fitness, USA Discounters,(8)
65.   White Oaks Plaza   IL   Springfield   Fee     100.0 % Built 1986     97.2%     387,911   T.J. Maxx, Office Max, Kohl's, Toys 'R Us/Babies 'R Us, Country Market
66.   Whitehall Mall   PA   Whitehall   Fee     38.0 %(4)(15) Acquired 2003     94.9%     605,814   Sears, Kohl's, Bed Bath & Beyond, Gold's Gym, Buy Buy Baby, Raymour & Flanigan Furniture, Michaels
67.   Willow Knolls Court   IL   Peoria   Fee     35.7 %(4)(13) Built 1990     97.2%     382,375   Burlington Coat Factory, Kohl's, Sam's Wholesale Club, Willow Knolls 14, Office Max
68.   Wolf Ranch   TX   Georgetown (Austin)   Fee     100.0 % Built 2005     99.5%     626,168   Kohl's, Target, Michaels, Best Buy, Office Depot, PetsMart, T.J. Maxx, DSW, Ross Dress for Less
                                         
    Total Community/Lifestyle Center GLA                         21,015,482 (18)  
                                         

29


Table of Contents

Simon Property Group, Inc. and Subsidiaries

Property Table

U.S. Properties

 
 
Property Name
  State   City (CBSA)   Ownership Interest
(Expiration if
Lease)(3)
  Legal Ownership   Year Built
or
Acquired
  Occupancy(5)   Total GLA   Retail Anchors and Selected Major Tenants
 
  Mills Properties
    The Mills®                                      
1.   Arizona Mills   AZ   Tempe (Phoenix)   Fee     50.0 %(4) Acquired 2007     98.2%     1,240,153   Marshalls, Last Call by Neiman Marcus, Saks Fifth Avenue Off 5th, Burlington Coat Factory, Sears Appliance Outlet, Gameworks, Sports Authority, Ross Dress for Less, JCPenney Outlet, Group USA, Harkins Cinemas & IMAX, Sea Life Center, Conn's(6)
2.   Arundel Mills   MD   Hanover (Baltimore)   Fee     59.3 %(4) Acquired 2007     99.9%     1,560,309   Bass Pro Shops, Bed Bath & Beyond, Best Buy, Books-A-Million, Burlington Coat Factory, The Children's Place, Dave & Buster's, F.Y.E., H&M, Medieval Times, Modell's, Last Call by Neiman Marcus, Saks Fifth Avenue Off 5th, Off Broadway Shoe Warehouse, T.J. Maxx, Cinemark Egyptian 24 Theatres, Maryland Live! Casino
3.   Colorado Mills   CO   Lakewood (Denver)   Fee     37.5 %(4)(2) Acquired 2007     91.6%     1,097,411   Eddie Bauer Outlet, Last Call by Neiman Marcus, Off Broadway Shoe Warehouse, Saks Fifth Avenue Off 5th, Sports Authority, Super Target, United Artists Theatre, Burlington Coat Factory
4.   Concord Mills   NC   Concord (Charlotte)   Fee     59.3 %(4) Acquired 2007     99.9%     1,333,858   Bass Pro Shops Outdoor World, Books-A-Million, Burlington Coat Factory, Saks Fifth Avenue Off 5th, The Children's Place Outlet, Dave & Buster's, Nike Factory Store, T.J. Maxx, Group USA, Sun & Ski, VF Outlet, Off Broadway Shoes, Bed Bath & Beyond, NASCAR Speedpark, AMC Theatres, Best Buy, Forever 21
5.   Grapevine Mills   TX   Grapevine (Dallas)   Fee     59.3 %(4) Acquired 2007     98.4%     1,777,175   Bed Bath & Beyond, Burlington Coat Factory, The Children's Place, Group USA, JCPenney Outlet, Marshalls, Nike Factory Store, Saks Fifth Avenue Off 5th, AMC Theatres, Dr. Pepper Star Center, Sun & Ski Sports, Last Call by Neiman Marcus, Sears Appliance Outlet, Bass Pro Outdoor World, Off Broadway Shoes, VF Outlet, Legoland Discovery Center, Sea Life Center, Ross Dress for Less, H&M
6.   Great Mall   CA   Milpitas (San Jose)   Fee     100.0 % Acquired 2007     97.4%     1,361,236   Last Call by Neiman Marcus, Sports Authority, Group USA, Kohl's, Dave & Busters, Sears Appliance Outlet, Burlington Coat Factory, Marshalls, Saks Fifth Avenue Off 5th, Nike Factory Store, Century Theatres, Bed Bath & Beyond, Off Broadway Shoes
7.   Gurnee Mills   IL   Gurnee (Chicago)   Fee     100.0 % Acquired 2007     97.5%     1,782,245   Bass Pro Shops Outdoor World, Bed Bath & Beyond/Buy Buy Baby, Burlington Coat Factory, Kohl's, Marshalls Home Goods, Saks Fifth Avenue Off 5th, Rinkside, Sears Grand, Sports Authority, T.J. Maxx, VF Outlet, Marcus Cinemas, Last Call by NeimanMarcus, Value City Furniture, Shoppers World, Off Broadway Shoe Warehouse, Macy's(6)

30


Table of Contents

Simon Property Group, Inc. and Subsidiaries

Property Table

U.S. Properties

 
 
Property Name
  State   City (CBSA)   Ownership Interest
(Expiration if
Lease)(3)
  Legal Ownership   Year Built
or
Acquired
  Occupancy(5)   Total GLA   Retail Anchors and Selected Major Tenants
8.   Katy Mills   TX   Katy (Houston)   Fee     62.5 %(4)(2) Acquired 2007     94.9%     1,559,488   Bass Pro Shops Outdoor World, Bed Bath and Beyond, Books-A-Million, Burlington Coat Factory, Marshalls, Last Call by Neiman Marcus, Nike Factory Store, Saks Fifth Avenue Off 5th, Sun & Ski Sports, AMC Theatres, Off Broadway Shoes, Tilt
9.   Ontario Mills   CA   Ontario (Riverside)   Fee     50.0 %(4) Acquired 2007     99.7%     1,472,739   Burlington Coat Factory, Nike Factory Store, Gameworks, The Children's Place Outlet, Marshalls, JCPenney Outlet, Saks Fifth Avenue Off 5th, Bed Bath & Beyond, Nordstrom Rack, Dave & Busters, Group USA, Sam Ash Music, Off Broadway Shoes, AMC Theatres, Sports Authority, Forever 21, Last Call by Neiman Marcus
10.   Opry Mills   TN   Nashville   Fee     100.0 % Acquired 2007     94.0%     1,153,230   Regal Cinema & IMAX, Dave & Busters, VF Outlet, Sun & Ski, Bass Pro Shops, Forever 21, Bed Bath & Beyond, Saks Fifth Avenue Off 5th, Off Broadway Shoes
11.   Outlets at Orange, The   CA   Orange (Los Angeles)   Fee     50.0 %(4) Acquired 2007     99.4%     757,052   Dave & Buster's, Vans Skatepark, Lucky Strike Lanes, Saks Fifth Avenue Off 5th, AMC Theatres, Nike Factory Store, Last Call by Neiman Marcus, Off Broadway Shoes, Nordstrom Rack, Sports Authority, H&M, Forever 21
12.   Potomac Mills   VA   Woodbridge (Washington, D.C.)   Fee     100.0 % Acquired 2007     93.0%     1,498,007   Group USA, Marshalls, T.J. Maxx, Sears Appliance Outlet, JCPenney, Burlington Coat Factory, Off Broadway Shoe Warehouse, Nordstrom Rack, Saks Fifth Avenue Off 5th Outlet, Costco Warehouse, The Children's Place, AMC Theatres, Modell's Sporting Goods, Books-A-Million, H&M, Last Call by Neiman Marcus, XXI Forever, Bloomingdale's Outlet, Buy Buy Baby(6), Christmas Tree Shops(6)
13.   Sawgrass Mills   FL   Sunrise (Miami)   Fee     100.0 % Acquired 2007     98.1%     2,220,162   American Signature Home, Beall's Outlet, Bed Bath & Beyond, Brandsmart USA, Burlington Coat Factory, Gameworks, JCPenney Outlet Store, Marshalls, Last Call by Neiman Marcus, Nike Factory Store, Nordstrom Rack, Saks Fifth Avenue Off 5th, Ron Jon Surf Shop, Sports Authority, Super Target, T.J. Maxx, VF Factory Outlet, F.Y.E., Off Broadway Shoes, Regal Cinema, Bloomingdale's Outlet, Forever 21
                                         
    Total Mills Properties                                 18,813,065    
                                         

31


Table of Contents

Simon Property Group, Inc. and Subsidiaries

Property Table

U.S. Properties

 
 
Property Name
  State   City (CBSA)   Ownership Interest
(Expiration if
Lease)(3)
  Legal Ownership   Year Built
or
Acquired
  Occupancy(5)   Total GLA   Retail Anchors and Selected Major Tenants
    Other Properties                                      

1.

 

Factory Stores of America — Lebanon

 

MO

 

Lebanon

 

Fee

 

 

100.0%

 

Acquired 2004

 

 

86.1%

 

 

85,948

 

Dressbarn, Factory Brand Shoes, Van Heusen, VF Outlet
2.   Florida Keys Outlet Center   FL   Florida City   Fee     100.0%   Acquired 2010     80.6%     207,317   Aeropostale, Carter's, Coach, Gap Outlet, Guess, Nike, Nine West, OshKosh B'gosh, Skechers, Tommy Hilfiger
3.   Huntley Outlet Center   IL   Huntley   Fee     100.0%   Acquired 2010     61.4%     278,795   Aeropostale, Ann Taylor, Banana Republic, BCBG Max Azria, Bose, Calvin Klein, Carter's, Eddie Bauer, Gap Outlet, Guess, Reebok, Tommy Hilfiger, Van Heusen
4.   Outlet Marketplace   FL   Orlando   Fee     100.0%   Acquired 2010     70.5%     204,939   Calvin Klein, Coldwater Creek, Nine West, Reebok, Skechers, Van Heusen, Wilsons Leather
5.   The Shoppes at Branson Meadows   MO   Branson   Fee     100.0%   Acquired 2004     70.7%     284,564   Branson Meadows Cinemas, Dressbarn, VF Outlet
6 - 13.   The Mills Limited Partnership (TMLP)                     Acquired 2007           8,101,172 (19)  
                                         
    Total Other GLA                             9,162,735    
                                         
    Total U.S. Properties GLA                             239,180,556    
                                         

32


Table of Contents

FOOTNOTES:


(1)
This property is managed by a third party.

(2)
Our direct and indirect interests in some of the properties held as joint venture interests are subject to preferences on distributions in favor of other partners or us.

(3)
The date listed is the expiration date of the last renewal option available to the operating entity under the ground lease. In a majority of the ground leases, we have a right to purchase the lessor's interest under an option, right of first refusal or other provision. Unless otherwise indicated, each ground lease listed in this column covers at least 50% of its respective property.

(4)
Joint venture properties accounted for under the equity method.

(5)
Malls — Executed leases for all company-owned GLA in mall stores, excluding majors and anchors. Premium Outlets Community/Lifestyle Centers and The Mills — Executed leases for all company-owned GLA (or total center GLA).

(6)
Indicates anchor or major that is currently under development.

(7)
Indicates ground lease covers less than 50% of the acreage of this property.

(8)
Indicates vacant anchor space(s).

(9)
The lease at the Mall at Chestnut Hill includes the entire premises including land and building.

(10)
Indicates ground lease covers outparcel only.

(11)
Indicates vacant anchor owned by another company, but we still collect rent and/or fees under an agreement.

(12)
We receive substantially all the economic benefit of the property due to a preference or advance.

(13)
Outside partner receives substantially all of the economic benefit due to a partner preference.

(14)
We own a mortgage note that encumbers Pheasant Lane Mall that entitles us to 100% of the economics of this property.

(15)
Our indirect ownership interest is through an approximately 76% ownership interest in Kravco Simon Investments.

(16)
Mall & Freestanding GLA includes office space. Centers with more than 20,000 square feet of office space are listed below:

Arsenal Mall — 52,847 sq. ft.   Greendale Mall — 119,860 sq. ft.
Circle Centre — 25,192 sq. ft.   Menlo Park Mall — 52,576 sq. ft.
Copley Place — 867,301 sq. ft.   Oak Court Mall — 126,775 sq. ft.
Del Amo Fashion Center — 56,798 sq. ft.   Oxford Valley Mall — 110,902 sq. ft.
Domain, The — 135,589 sq. ft.   Plaza Carolina — 27,343 sq. ft.
Fashion Centre at Pentagon City, The — 169,089 sq. ft.   Southdale Center — 20,295 sq. ft.
Firewheel Town Center — 75,132 sq. ft.    
(17)
Our interest in the property was sold effective January 3, 2013.

(18)
Includes office space at Clay Terrace of 75,118 sq. ft.

(19)
TMLP properties include Franklin Mills, The Esplanade, The Galleria at White Plains, Hilltop Mall, Liberty Plaza, Marley Station, Northpark Mall and Sugarloaf Mills.

33


Table of Contents

            The following table summarizes lease expiration data for our malls and Premium Outlets located in the United States, including Puerto Rico, as of December 31, 2012. The data presented does not consider the impact of renewal options that may be contained in leases.


Simon Property Group, Inc. and Subsidiaries
U.S. Lease Expirations
Malls and Premium Outlets
As of December 31, 2012

Year
  Number of
Leases Expiring
  Square Feet   Avg. Base
Minimum Rent per
Square Foot at
12/31/12
  Percentage of Gross
Annual Rental
Revenues (1)
 

Inline Stores and Freestanding

                         

Month to Month Leases

   
619
   
1,701,002
 
$

36.97
   
1.3

%

2013

    2,800     8,213,014   $ 38.48     6.5 %

2014

    2,702     8,987,080   $ 37.59     7.2 %

2015

    2,740     9,037,784   $ 39.50     7.6 %

2016

    2,518     8,679,170   $ 38.77     7.1 %

2017

    2,515     9,021,336   $ 41.26     8.0 %

2018

    1,924     7,649,392   $ 45.41     7.4 %

2019

    1,485     5,614,990   $ 46.50     5.7 %

2020

    1,196     4,341,991   $ 48.19     4.5 %

2021

    1,282     5,195,275   $ 44.63     5.0 %

2022

    1,517     5,838,628   $ 44.30     5.6 %

2023 and Thereafter

    822     4,612,654   $ 36.67     3.8 %

Specialty Leasing Agreements w/ terms in excess of 12 months

    1,523     3,531,265   $ 14.83     1.2 %

Anchor Tenants

                         

2013

   
7
   
628,766
 
$

3.35
   
0.0

%

2014

    33     3,338,999   $ 5.33     0.4 %

2015

    29     3,248,369   $ 3.11     0.2 %

2016

    24     2,909,937   $ 3.15     0.2 %

2017

    22     2,969,087   $ 2.60     0.2 %

2018

    23     2,721,023   $ 4.84     0.3 %

2019

    11     1,305,863   $ 4.58     0.1 %

2020

    15     1,370,682   $ 6.68     0.2 %

2021

    12     1,055,228   $ 7.36     0.1 %

2022

    8     913,014   $ 9.91     0.2 %

2023 and Thereafter

    39     4,358,089   $ 7.08     0.7 %

(1)
Annual rental revenues represent 2012 consolidated and joint venture combined base rental revenue.

34


Table of Contents

International Properties

            Our ownership interests in properties outside the United States are primarily owned through joint venture arrangements.

            On March 14, 2012, we acquired a 28.7% interest in Klépierre for approximately $2.0 billion. At December 31, 2012 we owned 57,634,148 shares, or approximately 28.9%, of Klépierre, which had a quoted market price of $39.67 per share. Klépierre is a publicly traded, Paris-based real estate company, which owns, or has an interest in, more than 260 shopping centers located in 13 countries in Europe.

            We own a 13.3% interest in Value Retail PLC, which owns and operates nine luxury outlets throughout Europe. We also have a minority direct ownership in three of those outlets.

            We also hold a 40% interest in eight operating real estate joint venture properties in Japan, a 50% interest in two operating joint venture properties in South Korea, a 50% interest in one operating joint venture property in Mexico, and a 50% interest in one operating joint venture property in Malaysia. The eight Japanese Premium Outlets operate in various cities throughout Japan and comprise over 2.8 million square feet of GLA. These properties were 99.5% leased as of December 31, 2012.

            The following property table summarizes certain data for our properties located in Japan, South Korea, Mexico, and Malaysia at December 31, 2012.

35


Table of Contents

Simon Property Group, Inc. and Subsidiaries
International Properties

 
  COUNTRY/Property Name   City (Metropolitan area)   Ownership
Interest
  SPG
Effective
Ownership
  Year
Built
  Total Gross
Leasable Area(1)
  Retail Anchors and
Major Tenants
    JAPAN                            
1.   Ami Premium Outlets   Ami (Tokyo)   Fee     40.0 % 2009     315,000   Adidas, Banana Republic, BCBG Max Azria, Beams, Brooks Brothers, Coach, Cole Haan, Diesel, Gap Outlet, Laundry, McGregor, MK Michel Klein, Tommy, Hilfiger, Ralph Lauren
2.   Gotemba Premium Outlets   Gotemba City (Tokyo)   Fee     40.0 % 2000     481,500   Armani, Balenciaga, Bally, Beams, Bottega Veneta, Burberry, Coach, Diesel, Dolce & Gabbana, Dunhill, Gap Outlet, Gucci, Jill Stuart, Loro Piana, Miu Miu, Moschino, Nike, Polo Ralph Lauren, Prada, Salvatore Ferragamo, Tod's
3.   Kobe-Sanda Premium Outlets   Hyougo-ken (Osaka)   Ground Lease (2026)     40.0 % 2007     441,000   Adidas, Armani, Bally, Banana Republic, Beams, Brooks Brothers, Coach, Cole Haan, Diesel, Etro, Gap Outlet, Gucci, Harrod's, Helmut Lang, Hugo Boss, Loro Piana, Nike, Polo Ralph Lauren, Salvatore Ferragamo, Theory, Tommy Hilfiger, Valentino
4.   Rinku Premium Outlets   Izumisano (Osaka)   Ground Lease (2020)     40.0 % 2000     419,000   Adidas, Armani, Bally, BCBG Max Azria, Beams, Brooks Brothers, Coach, Cole Haan, Diesel, Dolce & Gabbana, Dunhill, Eddie Bauer, Etro, Furla, Gap Outlet, Hugo Boss, Kate Spade, Lacoste, Lanvin Collection, Nike, Polo Ralph Lauren
5.   Sano Premium Outlets   Sano (Tokyo)   Ground Lease (2022)     40.0 % 2003     390,800   Adidas, Armani, Beams, Brooks Brothers, Coach, Cynthia Rowley, Diesel, Dunhill, Eddie Bauer, Escada, Etro, Furla, Gap Outlet, Gucci, Harrod's, Kate Spade, Lanvin Collection, Miu Miu, Nike, Polo Ralph Lauren
6.   Sendai-Izumi Premium Outlets   Izumi Park Town (Sendai)   Ground Lease (2027)     40.0 % 2008     164,200   Adidas, Beams, Brooks Brothers, Coach, Jill Stuart, Laundry, Levi's, Pleats Please Issey Miyake, Ray-Ban, Tasaki, Taylor Made
7.   Toki Premium Outlets   Toki (Nagoya)   Ground Lease (2024)     40.0 % 2005     289,500   Adidas, BCBG Max Azria, Beams, Brooks Brothers, Coach, Diesel, Eddie Bauer, Furla, Gap Outlet, Laundry, MK Michel Klein, Nike, Olive des Olive, Polo Ralph Lauren, Timberland, Tommy Hilfiger
8.   Tosu Premium Outlets   Fukuoka (Kyushu)   Ground Lease (2023)     40.0 % 2004     290,600   Adidas, Armani, BCBG Max Azria, Beams, Bose, Brooks Brothers, Coach, Cole Haan, Courreges, Dolce & Gabbana, Furla, Gap Outlet, Miki House, Nike, Quiksilver, Reebok, Theory, Tommy Hilfiger
                               
    Subtotal Japan                       2,791,600    

36


Table of Contents

Simon Property Group, Inc. and Subsidiaries
International Properties

 
  COUNTRY/Property Name   City (Metropolitan area)   Ownership
Interest
  SPG
Effective
Ownership
  Year
Built
  Total Gross
Leasable Area(1)
  Retail Anchors and
Major Tenants
    MEXICO                            
9.   Punta Norte Premium Outlets   Mexico City   Fee     50.0 % 2004     278,000   Adidas, Calvin Klein, CH Carolina Herrera, Coach, Kenneth Cole, Lacoste, Levi's, MaxMara, Nautica, Nike, Palacio Outlet, Reebok, Rockport, Salvatore Ferragamo, Swarovski, Zegna
                               
    Subtotal Mexico                       278,000    

 

 

SOUTH KOREA

 

 

 

 

 

 

 

 

 

 

 

 

 

 
10.   Yeoju Premium Outlets   Yeoju (Seoul)   Fee     50.0 % 2007     276,200   Adidas, Giorgio Armani, Bally, Burberry, Chloe, Coach, Diesel, Dolce & Gabbana, Escada, Fendi, Furla, Gucci, Lacoste, Marc Jacobs, Michael Kors, Nike, Polo Ralph Lauren, Salvatore Ferragamo, Theory, Tod's, Valentino, Vivienne Westwood
11.   Paju Premium Outlets   Paju (Seoul)   Fee     50.0 % 2011     339,400   Armani, Banana Republic, Calvin Klein, Coach, DKNY, Elie Tabari, Escada, Jill Stuart, Lacoste, Lanvin Collection, Marc Jacobs, Michael Kors, Nike, Polo Ralph Lauren, Theory, Tory Burch, Vivienne Westwood
                               
    Subtotal South Korea                       615,600    

 

 

MALAYSIA

 

 

 

 

 

 

 

 

 

 

 

 

 

 
12.   Johor Premium Outlets   Johor (Singapore)   Fee     50.0 % 2011     190,400   Adidas, Armani, Burberry, Calvin Klein, Canali, Coach, DKNY, Gap, Guess, Lacoste, Levi's, Michael Kors, Nike, Salvatore Ferragamo, Timberland, Zegna
                               
    Subtotal Malaysia                       190,400    
                               
    TOTAL INTERNATIONAL ASSETS                       3,875,600    
                               

FOOTNOTES:

37


Table of Contents

            We have direct or indirect ownership interests in approximately 425 acres of land held in the United States for future development.

            We focus on energy efficiency as a core sustainability strategy. Through the continued use of energy conservation practices, energy efficiency projects, and continuous monitoring and reporting, we have reduced our energy consumption at comparable properties every year since 2003. As a result, excluding new developments and expansions, we reduced the electricity usage over which we have direct control by 374 million kWhs since 2003. This represents a 29% reduction in electricity usage across a portfolio of comparable properties and reflects an annual value of over $36 million in avoided operating costs. Our documented reduction in greenhouse gas emissions resulting from our energy management efforts is 229,000 metric tons of CO2e.

            In 2012, we were awarded NAREIT's Leader in the Light Award for our energy conservation efforts for the eighth straight year. We are the only company to have achieved the Leader in the Light distinction every single year since NAREIT launched the program in 2005. We were included in the 2012 Carbon Disclosure Leadership Index published by the Carbon Disclosure Project and were the only REIT to earn a place on this index for the second straight year.

            The following table sets forth certain information regarding the mortgages and other indebtedness encumbering our properties, and the properties held by our domestic and international joint venture arrangements, and also our unsecured corporate debt. Substantially all of the mortgage and property related debt is nonrecourse to us.

38



MORTGAGE AND OTHER DEBT ON PORTFOLIO PROPERTIES
As of December 31, 2012
(Dollars in thousands)

Property Name   Interest
Rate
  Face
Amount
  Annual
Debt Service (1)
  Maturity
Date
 

Consolidated Indebtedness:

                         

Secured Indebtedness:

                         

Anderson Mall

    4.61 % $ 20,849   $ 1,408     12/01/22  

Arsenal Mall HCHP

    8.20 %   560     202     05/05/16  

Bangor Mall

    6.15 %   80,000     4,918   (2)   10/01/17  

Battlefield Mall

    3.95 %   125,000     4,938   (2)   09/01/22  

Birch Run Premium Outlets

    5.95 %   105,967   (10)   8,078     04/11/16  

Bloomingdale Court

    8.15 %   25,562     2,495     11/01/15  

Brunswick Square

    5.65 %   78,189     5,957     08/11/14  

Calhoun Premium Outlets

    5.79 %   20,368   (22)   1,519     09/01/16  

Carolina Premium Outlets

    3.36 %   50,423     2,675     12/01/22  

Chesapeake Square

    5.84 %   66,502     5,162     08/01/14  

Concord Mills Marketplace

    5.76 %   12,492     1,013     02/01/14  

DeKalb Plaza

    5.28 %   2,530     284     01/01/15  

Domain, The

    5.44 %   204,405     14,085     08/01/21  

Empire Mall

    5.79 %   176,300     10,215   (2)   06/01/16  

Ellenton Premium Outlets

    5.51 %   104,311   (21)   7,649     01/11/16  

Florida Keys Outlet Center

    5.51 %   10,645   (21)   781     01/11/16  

Forest Plaza

    7.50 %   18,074   (32)   1,685     10/10/19  

Gaffney Premium Outlets

    5.79 %   36,964   (22)   2,757     09/01/16  

Great Mall

    6.01 %   270,000     16,227   (2)   08/28/15   (3)

Greenwood Park Mall

    8.00 %   77,549   (19)   7,044     08/01/16  

Grove City Premium Outlets

    5.51 %   112,611   (21)   8,258     01/11/16  

Gulfport Premium Outlets

    5.51 %   25,124   (21)   1,842     01/11/16  

Gurnee Mills

    5.77 %   321,000     18,512   (2)   07/01/17  

Hagerstown Premium Outlets

    5.95 %   89,037   (10)   6,787     04/11/16  

Henderson Square

    4.43 %   13,633     937     04/01/16  

Huntley Outlet Center

    5.51 %   29,776   (21)   2,183     01/11/16  

Independence Center

    5.94 %   200,000     11,886   (2)   07/10/17  

Ingram Park Mall

    5.38 %   142,009     9,746     06/01/21  

Jersey Shore Premium Outlets

    5.51 %   69,882   (21)   5,124     01/11/16  

King of Prussia — The Court & The Plaza — 1

    7.49 %   81,230     23,183     01/01/17  

King of Prussia — The Court & The Plaza — 2

    8.53 %   5,792     1,685     01/01/17  

King of Prussia — The Court & The Plaza — 3

    4.50 %   50,000     2,250   (2)   01/01/17  

Lake View Plaza

    8.00 %   15,618     1,409     12/31/14  

Lakeline Plaza

    7.50 %   16,933   (32)   1,578     10/10/19  

Las Americas Premium Outlets

    5.84 %   180,000     10,511   (2)   06/11/16  

Lebanon Premium Outlets

    5.51 %   15,447   (21)   1,133     01/11/16  

Lee Premium Outlets

    5.79 %   50,844   (22)   3,792     09/01/16  

Mall of Georgia Crossing

    4.28 %   24,934     1,481     10/06/22  

Mesa Mall

    5.79 %   87,250     5,055   (2)   06/01/16  

Midland Park Mall

    4.35 %   84,664     5,078     09/06/22  

Montgomery Mall

    5.17 %   82,303     6,307     05/11/34  

Muncie Towne Plaza

    7.50 %   7,039   (32)   656     10/10/19  

Naples Outlet Center

    5.51 %   16,005   (21)   1,174     01/11/16  

North Ridge Shopping Center

    3.41 %   12,500     427   (2)   12/01/22  

Northfield Square

    6.05 %   25,894     2,485     02/11/14  

Opry Mills

    6.16 %   280,000     17,248   (2)   10/10/16   (3)

Opry Mills — 2

    5.00 %   103,925     5,196   (2)   10/10/16   (3)

Oxford Valley Mall

    4.77 %   68,870     4,456     12/07/20  

39



MORTGAGE AND OTHER DEBT ON PORTFOLIO PROPERTIES
As of December 31, 2012
(Dollars in thousands)

Property Name   Interest
Rate
  Face
Amount
  Annual
Debt Service (1)
  Maturity
Date
 

Palms Crossing

    5.49 %   37,747   (8)   2,612     08/01/21  

Penn Square Mall

    7.75 %   96,422     8,597     04/01/16  

Pismo Beach Premium Outlets

    5.84 %   33,850   (20)   1,978   (2)   11/06/16  

Plaza Carolina — Fixed

    7.50 %   86,717     7,552     06/01/14  

Plaza Carolina — Variable Swapped

    7.63 %  (11)   93,554     8,498     06/01/14  

Pleasant Prairie Premium Outlets

    5.51 %   60,018   (21)   4,401     01/11/16  

Pleasant Prairie Premium Outlets 2

    6.01 %   36,346     2,758     12/01/16  

Potomac Mills

    5.83 %   410,000     23,901   (2)   07/11/17  

Port Charlotte Town Center

    5.30 %   47,074     3,232     11/01/20  

Puerto Rico Premium Outlets

    3.75 %  (24)   72,152     3,965     05/01/14  

Queenstown Premium Outlets

    5.84 %   66,150   (20)   3,864   (2)   11/06/16  

Rushmore Mall

    5.79 %   94,000     5,446   (2)   06/01/16  

Sawgrass Mills

    5.82 %   820,000     47,724   (2)   07/01/14  

San Marcos Premium Outlets

    5.51 %   142,834   (21)   10,474     01/11/16  

Shops at Arbor Walk, The

    5.49 %   42,662   (8)   2,952     08/01/21  

Shops at Riverside, The

    2.31 %  (1)   130,000     3,001   (2)   06/16/16   (3)

Southdale Center

    5.18 %   152,834     10,430     04/01/16  

Southern Hills Mall

    5.79 %   101,500     5,881   (2)   06/01/16  

Southridge Mall

    5.23 %   124,000     6,489   (2)   04/01/15  

SouthPark

    8.00 %   191,933   (19)   17,434     08/01/16  

Stanford Shopping Center

    2.36 %  (1)   240,000     5,661   (2)   07/01/13  

Summit Mall

    5.42 %   65,000     3,526   (2)   06/10/17  

Sunland Park Mall

    8.63 %  (13)   29,626     3,773     01/01/26  

The Crossings Premium Outlets

    3.41 %   115,000     3,926   (2)   12/01/22  

Town Center at Cobb

    4.76 %   200,000     9,514   (2)   05/01/22  

Towne West Square

    5.61 %   49,998     3,516     06/01/21  

Upper Valley Mall

    5.89 %   44,060   (28)   1,920     07/01/16   (3)

Valle Vista Mall

    5.35 %   40,000     2,140   (2)   05/10/17  

Walt Whitman Shops

    8.00 %   118,261   (19)   10,742     08/01/16  

Washington Square

    5.94 %   25,749   (25)   1,072     07/01/16   (3)

West Ridge Mall

    5.89 %   65,778     4,885     07/01/14  

White Oaks Mall

    5.54 %   50,000     2,768   (2)   11/01/16  

White Oaks Plaza

    7.50 %   14,079   (32)   1,312     10/10/19  

Williamsburg Premium Outlets

    5.95 %   102,862   (10)   7,841     04/11/16  

Wolfchase Galleria

    5.64 %   225,000     12,700   (2)   04/01/17  

Woodland Hills Mall

    7.79 %   94,036     8,414     04/05/19  
                         

Total Consolidated Secured Indebtedness

        $ 8,018,252              

Unsecured Indebtedness:

                         

Simon Property Group, LP:

                         

Revolving Credit Facility — USD

    1.21 %  (15) $ 145,000   $ 1,753   (2)   10/30/16   (3)

Revolving Credit Facility — Euro Currency

    1.05 %  (15)   1,189,332   (16)   12,513   (2)   10/30/16   (3)

Supplemental Credit Facility — Yen Currency

    1.13 %  (15)   259,165   (23)   2,931   (2)   06/30/17   (3)

Unsecured Notes — 4C

    7.38 %   200,000     14,750   (14)   06/15/18  

Unsecured Notes — 9B

    5.45 %   122,288     6,665   (14)   03/15/13  

Unsecured Notes — 10B

    4.90 %   200,000     9,800   (14)   01/30/14  

Unsecured Notes — 11B

    5.63 %   218,430     12,287   (14)   08/15/14  

Unsecured Notes — 12A

    5.10 %   600,000     30,600   (14)   06/15/15  

Unsecured Notes — 13B

    5.75 %   600,000     34,500   (14)   12/01/15  

Unsecured Notes — 14B

    6.10 %   400,000     24,400   (14)   05/01/16  

Unsecured Notes — 15B

    5.88 %   500,000     29,375   (14)   03/01/17  

Unsecured Notes — 16B

    5.25 %   650,000     34,125   (14)   12/01/16  

40



MORTGAGE AND OTHER DEBT ON PORTFOLIO PROPERTIES
As of December 31, 2012
(Dollars in thousands)

Property Name   Interest
Rate
  Face
Amount
  Annual
Debt Service (1)
  Maturity
Date
 

Unsecured Notes — 19A

    5.30 %   237,897     12,609   (14)   05/30/13   (34)

Unsecured Notes — 19B

    6.13 %   800,000     49,000   (14)   05/30/18  

Unsecured Notes — 20A

    10.35 %   650,000     67,275   (14)   04/01/19  

Unsecured Notes — 21A

    6.75 %   516,052     34,834   (14)   05/15/14  

Unsecured Notes — 22A

    4.20 %   400,000     16,800   (14)   02/01/15  

Unsecured Notes — 22B

    5.65 %   1,250,000     70,625   (14)   02/01/20  

Unsecured Notes — 22C

    6.75 %   600,000     40,500   (14)   02/01/40  

Unsecured Notes — 23A

    4.38 %   900,000     39,375   (14)   03/01/21  

Unsecured Notes — 24A

    2.80 %   500,000     14,000   (14)   01/30/17  

Unsecured Notes — 24B

    4.13 %   700,000     28,875   (14)   12/01/21  

Unsecured Notes — 25A

    2.15 %   600,000     12,900   (14)   09/15/17  

Unsecured Notes — 25B

    3.38 %   600,000     20,250   (14)   03/15/22  

Unsecured Notes — 25C

    4.75 %   550,000     26,125   (14)   03/15/42  

Unsecured Notes — 26A

    1.50 %   750,000     11,250   (14)   02/01/18  

Unsecured Notes — 26B

    2.75 %   500,000     13,750   (14)   02/01/23  
                         

          14,638,164              

The Retail Property Trust, subsidiary:

                         

Unsecured Notes — CPI 4

    7.18 %   75,000     5,385   (14)   09/01/13  

Unsecured Notes — CPI 5

    7.88 %   250,000     19,688   (14)   03/15/16  
                         

          325,000              

CPG Partners, LP, subsidiary:

                         

Unsecured Notes — CPG 7

    6.00 %   69,334     4,160   (14)   01/15/13   (30)
                         

          69,334              
                         

Total Consolidated Unsecured Indebtedness

       
$

15,032,498
             
                         

Total Consolidated Indebtedness at Face Amounts

       
$

23,050,750
             

Net Premium on Indebtedness

          105,776              

Net Discount on Indebtedness

          (43,519 )            
                         

Total Consolidated Indebtedness

        $ 23,113,007              
                         

Our Share of Consolidated Indebtedness

        $ 22,953,985              
                         

Joint Venture Indebtedness:

                         

Secured Indebtedness:

                         

Ami Premium Outlets

    1.84 %   131,747   (26)   14,840     09/25/23  

Arizona Mills

    5.76 %   169,574     12,268     07/01/20  

Arundel Mills Marketplace

    5.92 %   10,739     884     01/01/14  

Arundel Mills

    6.14 %   374,338     28,116     08/01/14  

Auburn Mall

    6.02 %   40,886     3,027     09/01/20  

Aventura Mall

    5.91 %   430,000     25,392   (2)   12/11/17  

Avenues, The

    5.29 %   66,244     5,325     04/01/13  

Briarwood Mall

    7.50 %   114,153   (33)   10,641     11/30/16  

Busan Premium Outlets

    5.60 %  (27)   27,128   (17)   1,518   (2)   02/13/17  

California Department Stores

    6.53 %   31,300     2,044   (2)   11/01/17  

Cape Cod Mall

    5.75 %   97,882     7,003     03/06/21  

Circle Centre

    5.02 %   66,432     5,165     04/11/13  

Clay Terrace

    5.08 %   115,000     5,842   (2)   10/01/15  

Coconut Point

    5.83 %   230,000     13,409   (2)   12/10/16  

Coddingtown Mall

    3.11 %  (1)   13,050     1,059     07/01/14   (3)

Colorado Mills

    3.96 %  (18)   130,954     5,184   (2)   06/01/15  

41



MORTGAGE AND OTHER DEBT ON PORTFOLIO PROPERTIES
As of December 31, 2012
(Dollars in thousands)

Property Name   Interest
Rate
  Face
Amount
  Annual
Debt Service (1)
  Maturity
Date
 

Concord Mills

    3.84 %   235,000     9,015   (2)   11/01/22  

Crystal Mall

    4.46 %   95,000     4,237   (2)   06/06/22  

Dadeland Mall

    4.50 %   450,000     27,361     12/05/21  

Del Amo Fashion Center

    1.71 %  (1)   307,753     5,259   (2)   01/23/13  

Denver West Village

    5.04 %   28,000     1,410   (2)   07/01/21  

Domain Westin

    2.16 %  (1)   39,701     1,260     10/14/13  

Dover Mall

    5.57 %   92,437     6,455     08/06/21  

Emerald Square Mall

    4.71 %   114,444     7,165     08/11/22  

Falls, The

    7.50 %   110,348   (33)   10,287     11/30/16  

Fashion Centre Pentagon Office

    5.11 %   40,000     2,043   (2)   07/01/21  

Fashion Centre Pentagon Retail

    4.87 %   410,000     19,957   (2)   07/01/21  

Fashion Valley — 1

    4.30 %   475,000     20,425   (2)   01/04/21  

Fashion Valley — 2

    6.00 %   5,790     549     05/01/14  

Firewheel Residential

    5.91 %   22,380     1,635     12/01/16   (3)

Firewheel Residential II

    2.21 %  (1)   103     2     08/23/17   (3)

Florida Mall, The

    5.25 %   362,701     24,849     09/05/20  

Gaitway Plaza

    4.60 %   13,900     640   (2)   07/01/15  

Grapevine Mills

    5.90 %  (6)   270,000     15,932   (2)   09/22/14   (3)

Greendale Mall

    6.00 %   45,000     2,699   (2)   10/01/16  

Gotemba Premium Outlets

    1.59 %   36,869   (26)   15,834     10/25/14  

Hamilton Town Center

    4.81 %   84,000     4,038   (2)   04/01/22  

Houston Galleria — 1

    5.44 %   643,583     34,985   (2)   12/01/15  

Houston Galleria — 2

    5.44 %   177,417     9,644   (2)   12/01/15  

Indian River Commons

    5.21 %   9,211     637     11/01/14  

Indian River Mall

    5.21 %   62,413     4,313     11/01/14  

Johor Premium Outlets

    5.35 %  (7)   25,621   (9)   7,287     02/28/19  

Katy Mills

    3.49 %   140,000     4,886   (2)   12/06/22  

Kobe-Sanda Premium Outlets — Fixed

    1.70 %   2,328   (26)   3,776     01/31/14  

Kobe-Sanda Premium Outlets — Variable

    0.77 %  (12)   59,539   (26)   9,793     01/31/18  

Lehigh Valley Mall

    5.88 %   135,568     9,943     07/05/20  

Liberty Tree Mall

    5.22 %   35,000     1,827   (2)   10/11/13  

Mall at Rockingham Park, The

    5.61 %   260,000     14,586   (2)   03/10/17  

Mall at Tuttle Crossing, The

    5.05 %   108,420     7,774     11/05/13  

Mall of New Hampshire, The

    6.23 %   129,288     9,644     10/05/15  

Meadowood Mall

    5.82 %   123,399     8,818     11/06/21  

Miami International Mall

    5.35 %   88,306     6,533     10/01/13  

Northshore Mall

    5.03 %   191,001     13,566     03/11/34  

Ontario Mills

    4.25 %   345,598     20,661     03/05/22  

Outlets at Orange, The

    6.25 %   215,820     16,258     10/01/14  

Paju Premium Outlets

    6.01 %  (27)   74,636   (17)   4,486   (2)   03/16/16  

Plaza at Buckland Hills, The

    4.60 %   24,800     1,142   (2)   07/01/15  

Quaker Bridge Mall — 1

    7.03 %   15,146     2,407     04/01/16  

Quaker Bridge Mall — 2

    2.95 %   62,000