SPG » Topics » FOOTNOTES:

This excerpt taken from the SPG 8-K filed Oct 30, 2009.

FOOTNOTES:

(1)
Does not include the regional malls in the Mills portfolio.

(2)
This property is managed by a third party.

(3)
The Operating Partnership's 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 the Operating Partnership.

(4)
The Operating Partnership receives substantially all the economic benefit of the property due to a preference or advance.

(5)
The Operating Partnership owns a mortgage note that encumbers Pheasant Lane Mall that entitles it to 100% of the economics of this property.

(6)
The Operating Partnership's indirect ownership interest is through an approximately 76% ownership interest in Kravco Simon Investments.

(7)
Includes office space as follows:
Arsenal Mall—107,188 sq. ft.
Century III Mall—30,032 sq. ft.
Copley Place—867,601 sq. ft.
Coconut Point Town Center—1,325 sq. ft.
Fashion Centre at Pentagon City, The—169,089 sq. ft.
Firewheel Town Center—74,999 sq. ft.
Great Lakes Mall—2,051 sq. ft.
Greendale Mall—119,860 sq. ft.
Gwinnett Place—32,603 sq. ft.
King of Prussia Mall—13,646 sq. ft.
Lehigh Valley Mall—11,754 sq. ft.
Menlo Park Mall—52,424 sq. ft.
Northshore Mall—12,367 sq. ft.
Knoxville Center—1,455 sq. ft.
Oak Court Mall—127,411 sq. ft.
Oxford Valley Mall—110,324 sq. ft.
Plaza Carolina—28,436 sq. ft.
River Oaks Center—116,912 sq. ft.
Rolling Oaks Mall—6,383 sq. ft.
Roosevelt Field—1,610 sq. ft.
South Hills Village—4,361 sq. ft.
Stanford Shopping Center—5,748 sq. ft.
The Domain—92,955 sq. ft.
The Westchester—820 sq. ft.

26



SIMON PROPERTY GROUP
U.S. Premium Outlet Centers Operational Information
As of September 30, 2009

 
  As of or for the
Nine Months Ended
September 30,
 
 
  2009   2008  

Total Number of U.S. Premium Outlet Centers

    41     39  

Total U.S. Premium Outlet Centers GLA (in millions of square feet)

    17.1     15.8  

Occupancy(1)

    97.5 %   98.8 %

Comparable sales per square foot(1)

  $ 492   $ 515  

Average base rent per square foot(1)

  $ 32.95   $ 27.12  

Average Base Rent Per Square Foot(1)

 

Total
Center

 

%
Change

 

9/30/09

  $ 32.95     21.5 %

9/30/08

    27.12        

12/31/08

    27.65     7.7 %

12/31/07

    25.67     5.9 %

12/31/06

    24.23     4.6 %

12/31/05

    23.16     6.0 %

12/31/04

    21.85     7.3 %
This excerpt taken from the SPG 8-K filed Aug 4, 2009.

FOOTNOTES:

(1)
Does not include the regional malls in the Mills portfolio.

(2)
This property is managed by a third party.

(3)
The Operating Partnership's 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 the Operating Partnership.

(4)
The Operating Partnership receives substantially all the economic benefit of the property due to a preference or advance.

(5)
The Operating Partnership owns a mortgage note that encumbers Pheasant Lane Mall that entitles it to 100% of the economics of this property.

(6)
The Operating Partnership's indirect ownership interest is through an approximately 76% ownership interest in Kravco Simon Investments.

(7)
Includes office space as follows:
Arsenal Mall—107,188 sq. ft.
Century III Mall—39,119 sq. ft.
Copley Place—867,601 sq. ft.
Fashion Centre at Pentagon City, The—169,089 sq. ft.
Firewheel Town Center—74,999 sq. ft.
Granite Run—4,000 sq. ft.
Greendale Mall—119,860 sq. ft.
Gwinnett Place—32,603 sq. ft.
King of Prussia Mall—13,646 sq. ft.
Lehigh Valley Mall—11,754 sq. ft.
Menlo Park Mall—52,424 sq. ft.
Northshore Mall—12,367 sq. ft.
Knoxville Center—1,455 sq. ft.
Oak Court Mall—127,411 sq. ft.
Oxford Valley Mall—110,324 sq. ft.
Plaza Carolina—28,436 sq. ft.
River Oaks Center—116,912 sq. ft.
Rolling Oaks Mall—6,383 sq. ft.
Roosevelt Field—1,610 sq. ft.
South Hills Village—4,361 sq. ft.
Stanford Shopping Center—5,748 sq. ft.
The Domain—92,955 sq. ft.
The Westchester—820 sq. ft.

26



SIMON PROPERTY GROUP
U.S. Premium Outlet Centers Operational Information
As of June 30, 2009

 
  As of or for the
Six Months Ended
June 30,
 
 
  2009   2008  

Total Number of U.S. Premium Outlet Centers

    40     39  

Total U.S. Premium Outlet Centers GLA (in millions of square feet)

    16.8     15.8  

Occupancy(1)

    97.0 %   98.3 %

Comparable sales per square foot(1)

  $ 493   $ 510  

Average base rent per square foot(1)

  $ 32.74   $ 26.66  

Average Base Rent Per Square Foot(1)

 

Total
Center

 

%
Change

 

6/30/09

  $ 32.74     22.8 %

6/30/08

    26.66        

12/31/08

    27.65     7.7 %

12/31/07

    25.67     5.9 %

12/31/06

    24.23     4.6 %

12/31/05

    23.16     6.0 %

12/31/04

    21.85     7.3 %
This excerpt taken from the SPG 8-K filed May 1, 2009.

FOOTNOTES:

(1)
All gross leasable area listed in square feet.

(2)
This property is held partially in fee and partially encumbered by a leasehold on the premise which entitles the lessor to the majority of the economics of the portion of the property subject to the leasehold.

(3)
This property is encumbered by a leasehold on the entire premise which entitles the lessor to the majority of the economics of the property.

(4)
We own our interest in the assets in France and Poland through our shareholdings in Simon Ivanhoe S.a.r.l. Our interest in the Italian assets is owned through Gallerie Commerciali Italia S.p.A., while our interest in the assets in Japan is owned through Chelsea Japan Co., Ltd. We own our interest in Mexico through Fideicomiso Trust No. F/315-5 and our interest in South Korea through Shinsegae Chelsea Co., Ltd. We own our interest in the shopping center in Changshu, Jiangsu Province, China, through our shareholdings in Great Mall Investments Limited.

(5)
We own a 49% interest in the shopping gallery at this center, which consists of 177,600 sf of leasable area. We own a 19.6% interest in the retail parks at this center, which consist of 446,900 sf of leasable area.

39


These excerpts taken from the SPG 10-K filed Feb 26, 2009.

FOOTNOTES:


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

(2)
The Operating Partnership's 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 the Operating Partnership.

(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 of first refusal or the right to purchase the lessor's interest. 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)
Regional Malls—Executed leases for all company-owned GLA in mall stores, excluding majors. Premium Outlet Centers—Executed leases for all company-owned GLA (or total center GLA). Community/Lifestyle Centers—Executed leases for all company-owned GLA including majors and mall stores.

(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 all of the property except for parcels owned in fee by anchors.

(11)
Indicates ground lease covers outparcel only.

(12)
The Operating Partnership receives 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)
The Operating Partnership owns a mortgage note that encumbers Pheasant Lane Mall that entitles it to 100% of the economics of this property.

(15)
The Operating Partnership's indirect ownership interest is through an approximately 76% ownership interest in Kravco Simon Investments.

(16)
Indicates anchor has announced its intent to close this location.

(17)
Indicates anchor has closed, but the Operating Partnership still collects rents and/or fees under an agreement.

(18)
Mall & Freestanding GLA includes office space as follows:
    Arsenal Mall—105,807 sq. ft.   Lenox Square—2,674 sq. ft.
    Century III Mall—35,929 sq. ft.   Menlo Park Mall—50,615 sq. ft.
    Circle Centre Mall—9,123 sq. ft.   Oak Court Mall—126,319 sq. ft.
    Copley Place—856,586 sq. ft.   Oxford Valley Mall—109,832 sq. ft.
    Fashion Centre at Pentagon City, The—169,089 sq. ft.   Plaza Carolina—28,192 sq. ft.
    Fashion Mall at Keystone, The—10,927 sq. ft.   River Oaks Center—118,311 sq. ft.
    Firewheel Town Center—75,000 sq. ft.   Roosevelt Field—1,610 sq. ft.
    Greendale Mall—119,860 sq. ft.   Stanford Shopping Center—5,748 sq. ft.
    The Plaza & Court at King of Prussia—13,627 sq. ft.   The Westchester—820 sq. ft.
    Lehigh Valley Mall—11,754 sq. ft.   Del Amo—113,000 sq. ft.
(19)
Nordstrom to open stores in locations previously operated by others at South Shore Plaza (2009) and Northshore Mall (2009).

(20)
Vacant anchor store owned by another company.

34


Table of Contents

FOOTNOTES:










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


(2)
The
Operating Partnership's 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 the Operating Partnership.


(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 of first refusal or the right to purchase the lessor's interest. 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)
Regional
Malls—Executed leases for all company-owned GLA in mall stores, excluding majors. Premium Outlet Centers—Executed leases
for all company-owned GLA (or total center GLA). Community/Lifestyle Centers—Executed leases for all company-owned GLA including majors and mall stores.


(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 all of the property except for parcels owned in fee by anchors.


(11)
Indicates
ground lease covers outparcel only.


(12)
The
Operating Partnership receives 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)
The
Operating Partnership owns a mortgage note that encumbers Pheasant Lane Mall that entitles it to 100% of the economics of this property.


(15)
The
Operating Partnership's indirect ownership interest is through an approximately 76% ownership interest in Kravco Simon Investments.


(16)
Indicates
anchor has announced its intent to close this location.


(17)
Indicates
anchor has closed, but the Operating Partnership still collects rents and/or fees under an agreement.


(18)
Mall &
Freestanding GLA includes office space as follows:


















































































   Arsenal Mall—105,807 sq. ft.  Lenox Square—2,674 sq. ft.
   Century III Mall—35,929 sq. ft.  Menlo Park Mall—50,615 sq. ft.
   Circle Centre Mall—9,123 sq. ft.  Oak Court Mall—126,319 sq. ft.
   Copley Place—856,586 sq. ft.  Oxford Valley Mall—109,832 sq. ft.
   Fashion Centre at Pentagon City, The—169,089 sq. ft.  Plaza Carolina—28,192 sq. ft.
   Fashion Mall at Keystone, The—10,927 sq. ft.  River Oaks Center—118,311 sq. ft.
   Firewheel Town Center—75,000 sq. ft.  Roosevelt Field—1,610 sq. ft.
   Greendale Mall—119,860 sq. ft.  Stanford Shopping Center—5,748 sq. ft.
   The Plaza & Court at King of Prussia—13,627 sq. ft.  The Westchester—820 sq. ft.
   Lehigh Valley Mall—11,754 sq. ft.  Del Amo—113,000 sq. ft.




(19)
Nordstrom
to open stores in locations previously operated by others at South Shore Plaza (2009) and Northshore Mall (2009).


(20)
Vacant
anchor store owned by another company.

34









NAME="page_cf72101_1_35">








































Table of Contents



FOOTNOTES:

      (1)
      All gross leasable area listed in square feet.
      (2)
      This property is held partially in fee and partially encumbered by a leasehold on the premise which entitles the lessor to the majority of the economics of the portion of the property subject to the leasehold.
      (3)
      These properties are encumbered by a leasehold on the entire premises which entitles the lessor the majority of the economics of the property.
      (4)
      Represents the sales area of the anchor and excludes any warehouse/storage areas.
      (5)
      On April 4, 2007, Gallerie Commerciali Italia (the Italian joint venture in which the Company owns a 49% interest) acquired the remaining 60% interest in the shopping gallery at this center, which consists of 177,600 square feet of leasable area. The Company owns a 19.6% interest in the retail parks at this center, which consist of 446,900 square feet of leasable area.

39


Table of Contents

FOOTNOTES:






      (1)
      All
      gross leasable area listed in square feet.
      (2)
      This
      property is held partially in fee and partially encumbered by a leasehold on the premise which entitles the lessor to the majority of the economics of
      the portion of the property subject to the leasehold.
      (3)
      These
      properties are encumbered by a leasehold on the entire premises which entitles the lessor the majority of the economics of the property.
      (4)
      Represents
      the sales area of the anchor and excludes any warehouse/storage areas.
      (5)
      On
      April 4, 2007, Gallerie Commerciali Italia (the Italian joint venture in which the Company owns a 49% interest) acquired the remaining 60%
      interest in the shopping gallery at this center, which consists of 177,600 square feet of leasable area. The Company owns a 19.6% interest in the retail parks at this center, which consist of 446,900
      square feet of leasable area.



39













NAME="page_ci72101_1_40">








































Table of Contents





This excerpt taken from the SPG 8-K filed Jan 30, 2009.

FOOTNOTES:

(1)
Does not include the regional malls in the Mills portfolio or four regional malls (Nanuet Mall, Palm Beach Mall, Raleigh Springs Mall, University Mall (FL)) which are in the process of being redeveloped.

(2)
This property is managed by a third party.

(3)
The Operating Partnership's 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 the Operating Partnership.

(4)
The Operating Partnership receives substantially all the economic benefit of the property due to a preference or advance.

(5)
The Operating Partnership owns a mortgage note that encumbers Pheasant Lane Mall that entitles it to 100% of the economics of this property.

(6)
The Operating Partnership's indirect ownership interest is through an approximately 76% ownership interest in Kravco Simon Investments.

(7)
Mall & Freestanding GLA includes office space as follows:
Arsenal Mall—107,188 sq. ft.
Century III Mall—39,119 sq. ft.
Copley Place—867,500 sq. ft.
Fashion Centre at Pentagon City, The—169,089 sq. ft.
Firewheel Town Center—74,999 sq. ft.
Granite Run—4,000 sq. ft.
Greendale Mall—119,860 sq. ft.
Gwinnett Place—32,603 sq. ft.
King of Prussia Mall—13,646 sq. ft.
Lehigh Valley Mall—11,754 sq. ft.
Menlo Park Mall—52,424 sq. ft.
Oak Court Mall—127,411 sq. ft.
Oxford Valley Mall—111,160 sq. ft.
Plaza Carolina—28,436 sq. ft.
River Oaks Center—116,162 sq. ft.
Rolling Oaks Mall—6,383 sq. ft.
Roosevelt Field—1,610 sq. ft.
South Hills Village—4,361 sq. ft.
Stanford Shopping Center—5,748 sq. ft.
The Domain—92,955 sq. ft.
The Westchester—820 sq. ft.

26



SIMON PROPERTY GROUP
U.S. Premium Outlet Centers Operational Information
As of December 31, 2008

 
  As of or for the
Twelve Months Ended
December 31,
 
 
  2008   2007  

Total Number of U.S. Premium Outlet Centers

    40     38  

Total U.S. Premium Outlet Centers GLA (in millions of square feet)

    16.4     15.0  

Occupancy(1)

    98.9 %   99.7 %

Comparable sales per square foot(1)

  $ 513   $ 504  

Average base rent per square foot(1)

  $ 27.65   $ 25.67  

Average Base Rent Per Square Foot(1)

 

Total
Center

 

%
Change

 

12/31/08

  $ 27.65     7.7 %

12/31/07

    25.67     5.9 %

12/31/06

    24.23     4.6 %

12/31/05

    23.16     6.0 %

12/31/04

    21.85     7.3 %

12/31/03

    20.36     n/a  
This excerpt taken from the SPG 8-K filed Nov 3, 2008.

FOOTNOTES:

(1)
Does not include the regional malls in the Mills portfolio or four regional malls (Nanuet Mall, Palm Beach Mall, Raleigh Springs Mall, University Mall (FL)) comprising 3.6 million sq. ft. which are in the process of being de-leased to allow for significant redevelopment activities.

(2)
This property is managed by a third party.

(3)
The Operating Partnership's 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 the Operating Partnership.

(4)
The Operating Partnership receives substantially all the economic benefit of the property due to a preference or advance.

(5)
The Operating Partnership owns a mortgage note that encumbers Pheasant Lane Mall that entitles it to 100% of the economics of this property.

(6)
The Operating Partnership's indirect ownership interest is through an approximately 76% ownership interest in Kravco Simon Investments.

(7)
Mall & Freestanding GLA includes office space as follows:
Arsenal Mall—107,188 sq. ft.
Century III Mall—39,119 sq. ft.
Copley Place—867,490 sq. ft.
Fashion Centre at Pentagon City, The—169,089 sq. ft.
Firewheel Town Center—74,999 sq. ft.
Greendale Mall—119,860 sq. ft.
Gwinnett Place—32,603 sq. ft.
King of Prussia Mall—13,646 sq. ft.
Lehigh Valley Mall—11,754 sq. ft.
Menlo Park Mall—52,424 sq. ft.
Oak Court Mall—127,411 sq. ft.
Oxford Valley Mall—111,163 sq. ft.
Plaza Carolina—28,436 sq. ft.
River Oaks Center—116,912 sq. ft.
Rolling Oaks Mall—6,383 sq. ft.
Roosevelt Field—1,610 sq. ft.
South Hills Village—4,361 sq. ft.
Stanford Shopping Center—5,748 sq. ft.
The Domain—92,955 sq. ft.
The Westchester—820 sq. ft.

26



SIMON PROPERTY GROUP
U.S. Premium Outlet Centers Operational Information
As of September 30, 2008

 
  As of or for the
Nine Months Ended
September 30,
 
 
  2008   2007  

Total Number of U.S. Premium Outlet Centers

    39     37  

Total U.S. Premium Outlet Centers GLA (in millions of square feet)

    15.8     14.6  

Occupancy(1)

    98.8 %   99.6 %

Comparable sales per square foot(1)

  $ 520   $ 499  

Average base rent per square foot(1)

  $ 27.12   $ 25.45  

Average Base Rent Per Square Foot(1)

 

Total
Center

 

%
Change

 

9/30/08

  $ 27.12     6.6 %

9/30/07

    25.45        

12/31/07

    25.67     5.9 %

12/31/06

    24.23     4.6 %

12/31/05

    23.16     6.0 %

12/31/04

    21.85     7.3 %

12/31/03

    20.36     n/a  
This excerpt taken from the SPG 8-K filed Jul 28, 2008.

FOOTNOTES:

(1)
Does not include the regional malls in the Mills portfolio.

(2)
This property is managed by a third party.

(3)
The Operating Partnership's 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 the Operating Partnership.

(4)
The Operating Partnership receives substantially all the economic benefit of the property due to a preference or advance.

(5)
The Operating Partnership owns a mortgage note that encumbers Pheasant Lane Mall that entitles it to 100% of the economics of this property.

(6)
The Operating Partnership's indirect ownership interest is through an approximately 76% ownership interest in Kravco Simon Investments.

(7)
Mall & Freestanding GLA includes office space as follows:
Arsenal Mall—107,188 sq. ft.
Century III Mall—35,929 sq. ft.
Circle Centre Mall—9,123 sq. ft.
Copley Place—867,490 sq. ft.
Fashion Centre at Pentagon City, The—169,089 sq. ft.
Fashion Mall at Keystone, The—10,927 sq. ft.
Firewheel Town Center—74,999 sq. ft.
Greendale Mall—119,860 sq. ft.
King of Prussia Mall—11,576 sq. ft.
Lehigh Valley Mall—11,754 sq. ft.
Lenox Square—2,674 sq. ft.
Menlo Park Mall—52,378 sq. ft.
Oak Court Mall—127,411 sq. ft.
Oxford Valley Mall—111,163 sq. ft.
Plaza Carolina—28,444 sq. ft.
River Oaks Center—116,835 sq. ft.
Rolling Oaks Mall—6,383 sq. ft.
Roosevelt Field—1,610 sq. ft.
South Hills Village—4,361 sq. ft.
Stanford Shopping Center—5,748 sq. ft.
The Domain—92,955 sq. ft.
The Westchester—820 sq. ft.

27



SIMON PROPERTY GROUP
U.S. Premium Outlet Centers Operational Information
As of June 30, 2008

 
  As of or for the
Six Months Ended
June 30,
 
 
  2008   2007  

Total Number of U.S. Premium Outlet Centers

    39     36  

Total U.S. Premium Outlet Centers GLA (in millions of square feet)

    15.8     14.1  

Occupancy(1)

    98.3 %   99.4 %

Comparable sales per square foot(1)

  $ 519   $ 492  

Average base rent per square foot(1)

  $ 26.66   $ 25.11  

Average Base Rent Per Square Foot(1)

 

Total
Center

 

%
Change

 

6/30/08

  $ 26.66     6.2 %

6/30/07

    25.11        

12/31/07

    25.67     5.9 %

12/31/06

    24.23     4.6 %

12/31/05

    23.16     6.0 %

12/31/04

    21.85     7.3 %

12/31/03

    20.36     n/a  

"FOOTNOTES:" elsewhere:

Inland Real Estate (IRC)
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