Item 2. Properties

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Item 2. Properties

United States Properties

Our U.S. properties primarily consist of malls, Premium Outlets, The Mills, community centers and other retail properties. These properties contain an aggregate of approximately 182.0 million square feet of gross leasable area, or GLA.

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 109 malls are generally enclosed centers and range in size from approximately 425,000 to 2.5 million square feet of GLA. Our malls contain in the aggregate more than 13,900 occupied stores, including approximately 516 anchors, which are predominately national retailers.

Premium Outlets generally contain a wide variety of designer and manufacturer stores located in open-air centers. Our 68 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 13 properties in The Mills generally range in size from 1.1 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.

We also have interests in three community centers and 14 other retail properties. The community centers range in size from 230,000 to 900,000 square feet of GLA. The other retail properties range in size from approximately 150,000 to 750,000 square feet of GLA and are considered non-core to our business model. In total, the community centers and other retail properties represent 1.4% of our total operating income before depreciation and amortization.

As of December 31, 2014, approximately 97.1% of the owned GLA in malls and Premium Outlets was leased and approximately 98.4% of the owned GLA for The Mills was leased.

We wholly own 133 of our properties, effectively control 13 properties in which we have a joint venture interest, and hold the remaining 61 properties through unconsolidated joint venture interests. We are the managing or co-managing general partner or member of 204 properties in the United States. 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, Premium Outlets, The Mills, community centers and other retail properties located in the United States, including Puerto Rico, as of December 31, 2014.

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.	Apple Blossom Mall	VA	Winchester	Fee		49.1	% (4)	Acquired 1999		97.3%			473,153	Belk, JCPenney, Sears, Carmike Cinemas
2.	Auburn Mall	MA	Auburn	Fee		56.4	% (4)	Acquired 1999		100.0	%		586,242	Macy's (9), Sears
3.	Aventura Mall (1)	FL	Miami Beach (Miami)	Fee		33.3	% (4)	Built 1983		98.7%			2,104,735	Bloomingdale's, Macy's, Macy's Men's & Home Furniture, JCPenney, Sears, Nordstrom, Equinox Fitness Clubs, AMC Theatres
4.	Avenues, The	FL	Jacksonville	Fee		25.0	% (4)(2)	Built 1990		97.6%			1,114,367	Belk, Dillard's, JCPenney, Sears, Forever 21
5.	Bangor Mall	ME	Bangor	Fee		87.6	%	Acquired 2003		99.4%			652,531	Macy's, JCPenney, Sears, Dick's Sporting Goods
6.	Barton Creek Square	TX	Austin	Fee		100.0	%	Built 1981		98.9%			1,429,568	Nordstrom, Macy's, Dillard's (9), JCPenney, Sears, AMC Theatre
7.	Battlefield Mall	MO	Springfield	Fee and Ground Lease (2056)		100.0	%	Built 1970		95.7%			1,201,576	Macy's, Dillard's (9), JCPenney, Sears, MC Sporting Goods
8.	Bay Park Square	WI	Green Bay	Fee		100.0	%	Built 1980		89.8%			711,747	Younkers, Younkers Home Furniture Gallery, Kohl's, ShopKo, Marcus Cinema 16
9.	Brea Mall	CA	Brea (Los Angeles)	Fee		100.0	%	Acquired 1998		98.9%			1,319,398	Nordstrom, Macy's (9), JCPenney, Sears
10.	Briarwood Mall	MI	Ann Arbor	Fee		50.0	% (4)	Acquired 2007		96.1%			983,111	Macy's, JCPenney, Sears, Von Maur, MC Sporting Goods
11.	Broadway Square	TX	Tyler	Fee		100.0	%	Acquired 1994		95.3%			627,361	Dillard's, JCPenney, Sears
12.	Burlington Mall	MA	Burlington (Boston)	Fee and Ground Lease (2048) (7)		100.0	%	Acquired 1998		98.2%			1,317,237	Macy's, Lord & Taylor, Sears, Nordstrom, Crate & Barrel
13.	Cape Cod Mall	MA	Hyannis	Fee and Ground Leases (2029-2073) (7)		56.4	% (4)	Acquired 1999		96.3%			721,896	Macy's (9), Sears, Best Buy, Marshalls, Barnes & Noble, Regal Cinema
14.	Castleton Square	IN	Indianapolis	Fee		100.0	%	Built 1972		98.6%			1,383,066	Macy's, Von Maur, JCPenney, Sears, Dick's Sporting Goods, AMC Theatres
15.	Cielo Vista Mall	TX	El Paso	Fee and Ground Lease (2022) (7)		100.0	%	Built 1974		100.0	%		1,245,895	Macy's, Dillard's (9), JCPenney, Sears, Cinemark Theatres
16.	Coconut Point	FL	Estero	Fee		50.0	% (4)	Built 2006		96.8%			1,204,897	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, Michael's, Sports Authority
17.	Coddingtown Mall	CA	Santa Rosa	Fee		50.0	% (4)	Acquired 2005		66.8%			822,943	Macy's, JCPenney, Whole Foods, Target
18.	College Mall	IN	Bloomington	Fee and Ground Lease (2048) (7)		100.0	%	Built 1965		98.6%			636,255	Macy's, Sears, Target, Dick's Sporting Goods, Bed Bath & Beyond
19.	Columbia Center	WA	Kennewick	Fee		100.0	%	Acquired 1987		97.8%			771,137	Macy's (9), JCPenney, Sears, Barnes & Noble, Regal Cinema, DSW (6)
20.	Copley Place	MA	Boston	Fee		94.4	% (12)	Acquired 2002		97.8%			1,242,603	Neiman Marcus, Barneys New York
21.	Coral Square	FL	Coral Springs (Miami)	Fee		97.2	%	Built 1984		100.0	%		943,886	Macy's (9), JCPenney, Sears, Kohl's
22.	Cordova Mall	FL	Pensacola	Fee		100.0	%	Acquired 1998		96.2%			918,079	Dillard's, Belk, Best Buy, Bed Bath & Beyond, Cost Plus World Market, Ross Dress for Less, Dick's Sporting Goods
23.	Crystal Mall	CT	Waterford	Fee		78.2	% (4)	Acquired 1998		92.3%			783,116	Macy's, JCPenney, Sears, Bed Bath & Beyond, Christmas Tree Shops
24.	Dadeland Mall	FL	Miami	Fee		50.0	% (4)	Acquired 1997		98.6%			1,498,402	Saks Fifth Avenue, Nordstrom, Macy's (9), JCPenney
25.	Del Amo Fashion Center (13)	CA	Torrance (Los Angeles)	Fee		50.0	% (4)	Acquired 2007		92.8%			2,094,060	Macy's Womens, Macy's Mens & Home & Furniture, Nordstrom (6), JCPenney, Sears, Marshalls, T.J. Maxx, Barnes & Noble, JoAnn Fabrics, Crate & Barrel, L.A. Fitness, AMC Theatres, (8)
26.	Domain, The	TX	Austin	Fee		100.0	%	Built 2006		95.1%			1,232,899	Neiman Marcus, Macy's, Dick's Sporting Goods, iPic Theaters, Dillard's, Arhaus Furniture, Punch Bowl Social
27.	Dover Mall	DE	Dover	Fee and Ground Lease (2041) (7)		68.1	% (4)	Acquired 2007		92.5%			928,189	Macy's, JCPenney, Boscov's, Sears, Carmike Cinemas, Dick's Sporting Goods

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.	Emerald Square	MA	North Attleboro (Providence, RI)	Fee		56.4	% (4)	Acquired 1999		94.3%			1,022,661	Macy's (9), JCPenney, Sears
29.	Empire Mall	SD	Sioux Falls	Fee and Ground Lease (2033) (7)		100.0	%	Acquired 1998		95.7%			1,125,295	Macy's, Younkers, JCPenney, Sears, Gordmans, Hy-Vee, Dick's Sporting Goods
30.	Falls, The	FL	Miami	Fee		50.0	% (4)	Acquired 2007		96.9%			837,626	Bloomingdale's, Macy's, Regal Cinema, The Fresh Market
31.	Fashion Centre at Pentagon City, The	VA	Arlington (Washington, DC)	Fee		42.5	% (4)	Built 1989		98.0%			990,432	Nordstrom, Macy's
32.	Fashion Mall at Keystone, The	IN	Indianapolis	Fee and Ground Lease (2067) (7)		100.0	%	Acquired 1997		94.3%			710,663	Saks Fifth Avenue, Crate & Barrel, Nordstrom, Keystone Art Cinema
33.	Fashion Valley	CA	San Diego	Fee		50.0	% (4)	Acquired 2001		97.7%			1,721,237	Forever 21, Neiman Marcus, Bloomingdale's, Nordstrom, Macy's, JCPenney, AMC Theatres, The Container Store
34.	Firewheel Town Center	TX	Garland (Dallas)	Fee		100.0	%	Built 2005		93.0%			999,502	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
35.	Florida Mall, The	FL	Orlando	Fee		50.0	% (4)	Built 1986		98.9%			1,676,299	Macy's, Dillard's, JCPenney, Sears, H&M, Forever 21, Zara, American Girl, Dick's Sporting Goods (6), Crayola Experience (6)
36.	Forum Shops at Caesars, The	NV	Las Vegas	Ground Lease (2050)		100.0	%	Built 1992		97.8%			674,730
37.	Galleria, The	TX	Houston	Fee		50.4	% (4)	Acquired 2002		98.3%			1,902,091	Saks Fifth Avenue (11), Neiman Marcus, Nordstrom, Macy's, Galleria Tennis/Athletic Club
38.	Greendale Mall	MA	Worcester (Boston)	Fee and Ground Lease (2019) (7)		56.4	% (4)	Acquired 1999		91.8%			428,818	T.J. Maxx 'N More, Best Buy, DSW, Big Lots
39.	Greenwood Park Mall	IN	Greenwood (Indianapolis)	Fee		100.0	%	Acquired 1979		96.6%			1,287,991	Macy's, Von Maur, JCPenney, Sears, Dick's Sporting Goods, Barnes & Noble, Regal Cinema
40.	Haywood Mall	SC	Greenville	Fee and Ground Lease (2067) (7)		100.0	%	Acquired 1998		97.9%			1,228,948	Macy's, Dillard's, JCPenney, Sears, Belk
41.	Independence Center	MO	Independence (Kansas City)	Fee		100.0	%	Acquired 1994		98.2%			865,948	Dillard's, Macy's, Sears
42.	Ingram Park Mall	TX	San Antonio	Fee		100.0	%	Built 1979		96.7%			1,120,874	Dillard's, Macy's, JCPenney, Sears, Bealls, (8)
43.	King of Prussia Mall	PA	King of Prussia (Philadelphia)	Fee		100.0	%	Acquired 2003		97.2%			2,450,177	Neiman Marcus, Bloomingdale's, Nordstrom, Lord & Taylor, Macy's, JCPenney, Crate & Barrel, Arhaus Furniture, The Container Store, Dick's Sporting Goods, Primark (6)
44.	La Plaza Mall	TX	McAllen	Fee and Ground Lease (2040) (7)		100.0	%	Built 1976		100.0	%		1,220,878	Macy's (9), Dillard's, JCPenney, Sears, Joe Brand
45.	Lakeline Mall	TX	Cedar Park (Austin)	Fee		100.0	%	Built 1995		95.7%			1,097,510	Dillard's (9), Macy's, JCPenney, Sears, Regal Cinema
46.	Lehigh Valley Mall	PA	Whitehall	Fee		50.0	% (4)	Acquired 2003		99.2%			1,180,862	Macy's, JCPenney, Boscov's, Barnes & Noble, hhgregg, Babies 'R Us
47.	Lenox Square	GA	Atlanta	Fee		100.0	%	Acquired 1998		99.4%			1,560,091	Neiman Marcus, Bloomingdale's, Macy's
48.	Liberty Tree Mall	MA	Danvers (Boston)	Fee		49.1	% (4)	Acquired 1999		92.1%			856,039	Marshalls, Sports Authority, Target, Kohl's, Best Buy, Staples, AC Moore, AMC Theatres, Nordstrom Rack, Off Broadway Shoes, Sky Zone
49.	Livingston Mall	NJ	Livingston (New York)	Fee		100.0	%	Acquired 1998		90.4%			969,348	Macy's, Lord & Taylor, Sears, Barnes & Noble
50.	Mall at Chestnut Hill, The	MA	Chestnut Hill (Boston)	Fee		94.4	%	Acquired 2002		94.3%			469,006	Bloomingdale's (9)
51.	Mall at Rockingham Park, The	NH	Salem (Boston)	Fee		28.2	% (4)	Acquired 1999		97.2%			1,025,214	JCPenney, Sears, Macy's, Lord & Taylor, Dick's Sporting Goods (6)
52.	Mall at Tuttle Crossing, The	OH	Dublin (Columbus)	Fee		50.0	% (4)	Acquired 2007		94.7%			1,125,123	Macy's (9), JCPenney, Sears
53.	Mall of Georgia	GA	Buford (Atlanta)	Fee		100.0	%	Built 1999		98.8%			1,817,941	Nordstrom (15), Dillard's, Macy's, JCPenney, Belk, Dick's Sporting Goods, Barnes & Noble, Haverty's Furniture, Regal Cinema, Von Maur (6)
54.	Mall of New Hampshire, The	NH	Manchester	Fee		56.4	% (4)	Acquired 1999		96.8%			812,357	Macy's, JCPenney, Sears, Best Buy, A.C. Moore

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
55.	McCain Mall	AR	N. Little Rock	Fee		100.0	%	Built 1973		93.4%		788,155	Dillard's, JCPenney, Sears, Regal Cinema
56.	Meadowood Mall	NV	Reno	Fee		50.0	% (4)	Acquired 2007		95.3%		883,751	Macy's (9), Sears, JCPenney, (8)
57.	Menlo Park Mall	NJ	Edison (New York)	Fee		100.0	%	Acquired 1997		99.1%		1,332,363	Nordstrom, Macy's, Barnes & Noble, AMC Dine-In Theatre, WOW! Work Out World, Fortunoff Backyard Store
58.	Miami International Mall	FL	Miami	Fee		47.8	% (4)	Built 1982		99.7%		1,081,955	Macy's (9), JCPenney, Sears, Kohl's
59.	Midland Park Mall	TX	Midland	Fee		100.0	%	Built 1980		98.3%		622,190	Dillard's (9), JCPenney, Sears, Bealls, Ross Dress for Less
60.	Miller Hill Mall	MN	Duluth	Fee		100.0	%	Built 1973		96.1%		832,803	JCPenney, Sears, Younkers, Barnes & Noble, DSW, Dick's Sporting Goods
61.	Montgomery Mall	PA	North Wales (Philadelphia)	Fee		79.4	%	Acquired 2003		80.6%		1,107,025	Macy's, JCPenney, Sears, Dick's Sporting Goods, Wegmans
62.	North East Mall	TX	Hurst (Dallas)	Fee		100.0	%	Built 1971		98.0%		1,669,001	Nordstrom, Dillard's, Macy's, JCPenney, Sears, Dick's Sporting Goods, Rave Theatre
63.	Northgate Mall	WA	Seattle	Fee		100.0	%	Acquired 1987		99.5%		1,048,104	Nordstrom, Macy's, JCPenney, Barnes & Noble, Bed Bath & Beyond, DSW, Nordstrom Rack
64.	Northshore Mall	MA	Peabody (Boston)	Fee		56.4	% (4)	Acquired 1999		95.2%		1,591,973	JCPenney, Sears, Nordstrom, Macy's Men's & Furniture, Macy's, Barnes & Noble, Toys 'R Us, Shaw's Grocery, The Container Store, DSW
65.	Ocean County Mall	NJ	Toms River (New York)	Fee		100.0	%	Acquired 1998		96.4%		898,359	Macy's, Boscov's, JCPenney, Sears
66.	Orland Square	IL	Orland Park (Chicago)	Fee		100.0	%	Acquired 1997		97.6%		1,231,958	Macy's, Carson's, JCPenney, Sears, Dave & Buster's
67.	Oxford Valley Mall	PA	Langhorne (Philadelphia)	Fee		85.5	%	Acquired 2003		88.8%		1,332,378	Macy's, JCPenney, Sears, United Artists Theatre, (8)
68.	Penn Square Mall	OK	Oklahoma City	Ground Lease (2060)		94.5	%	Acquired 2002		98.7%		1,063,809	Macy's, Dillard's (9), JCPenney, AMC Theatres
69.	Pheasant Lane Mall	NH	Nashua	—		0.0	% (14)	Acquired 2002		96.6%		979,338	JCPenney, Sears, Target, Macy's, Dick's Sporting Goods
70.	Phipps Plaza	GA	Atlanta	Fee		100.0	%	Acquired 1998		94.5%		830,318	Saks Fifth Avenue, Nordstrom, Belk, AMC Theatres, Arhaus Furniture, Legoland Discovery Center
71.	Plaza Carolina	PR	Carolina (San Juan)	Fee		100.0	%	Acquired 2004		97.7%		1,157,721	JCPenney, Sears, Tiendas Capri, Econo, Best Buy, T.J. Maxx, DSW, Sports Authority
72.	Prien Lake Mall	LA	Lake Charles	Fee and Ground Lease (2040) (7)		100.0	%	Built 1972		98.5%		848,040	Dillard's, JCPenney, Sears, Cinemark Theatres, Kohl's, Dick's Sporting Goods
73.	Quaker Bridge Mall	NJ	Lawrenceville	Fee		50.0	% (4)	Acquired 2003		91.9%		1,083,298	Macy's, Lord & Taylor, JCPenney, Sears
74.	Rockaway Townsquare	NJ	Rockaway (New York)	Fee		100.0	%	Acquired 1998		96.2%		1,245,658	Macy's, Lord & Taylor, JCPenney, Sears
75.	Roosevelt Field	NY	Garden City (New York)	Fee and Ground Lease (2090) (7)		100.0	%	Acquired 1998		95.2%		2,209,817	Bloomingdale's, Bloomingdale's Furniture Gallery, Nordstrom, Macy's, JCPenney, Dick's Sporting Goods, Loews Theatre, XSport Fitness, Neiman Marcus (6)
76.	Ross Park Mall	PA	Pittsburgh	Fee		100.0	%	Built 1986		98.8%		1,245,629	JCPenney, Sears, Nordstrom, L.L. Bean, Macy's, Crate & Barrel
77.	Santa Rosa Plaza	CA	Santa Rosa	Fee		100.0	%	Acquired 1998		91.5%		692,820	Macy's, Sears, Forever 21
78.	Shops at Nanuet, The	NY	Nanuet	Fee		100.0	%	Redeveloped 2013		99.7%		752,872	Macy's, Sears, Fairway Market, Regal Cinema, 24 Hour Fitness
79.	Shops at Mission Viejo, The	CA	Mission Viejo (Los Angeles)	Fee		51.0	% (4)	Built 1979		97.6%		1,151,131	Nordstrom, Macy's Women's, Macy's Men's and Furniture, Forever 21
80.	Shops at Riverside, The	NJ	Hackensack (New York)	Fee		100.0	%	Acquired 2007		94.2%		770,764	Bloomingdale's, Barnes & Noble, Arhaus Furniture, (8)
81.	Smith Haven Mall	NY	Lake Grove (New York)	Fee		25.0	% (4)(2)	Acquired 1995		96.7%		1,300,240	Macy's, Macy's Furniture Gallery, JCPenney, Sears, Dick's Sporting Goods, Barnes & Noble
82.	Solomon Pond Mall	MA	Marlborough (Boston)	Fee		56.4	% (4)	Acquired 1999		96.0%		885,178	Macy's, JCPenney, Sears, Regal Cinema
83.	South Hills Village	PA	Pittsburgh	Fee		100.0	%	Acquired 1997		99.6%		1,118,429	Macy's, Macy's Furniture Gallery, Sears, Barnes & Noble, Carmike Cinemas, Dick's Sporting Goods, Target, DSW, Ulta

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
84.	South Shore Plaza	MA	Braintree (Boston)	Fee		100.0	%	Acquired 1998		96.8%			1,588,885		Macy's, Lord & Taylor, Sears, Nordstrom, Target, DSW
85.	Southdale Center	MN	Edina (Minneapolis)	Fee		100.0	%	Acquired 2007		86.8%			1,258,482		Macy's, JCPenney, AMC Theatres, Herberger's, Gordmans (6), Dave & Buster's (6)
86.	SouthPark	NC	Charlotte	Fee and Ground Lease (2040) (10)		100.0	%	Acquired 2002		98.6%			1,680,545		Neiman Marcus, Nordstrom, Macy's, Dillard's, Belk, Dick's Sporting Goods, Crate & Barrel, The Container Store
87.	Southridge Mall	WI	Greendale (Milwaukee)	Fee		100.0	%	Acquired 2007		98.2%			1,176,807		JCPenney, Sears, Kohl's, Boston Store, Macy's
88.	Springfield Mall (1)	PA	Springfield (Philadelphia)	Fee		50.0	% (4)	Acquired 2005		86.5%			611,200		Macy's, Target
89.	Square One Mall	MA	Saugus (Boston)	Fee		56.4	% (4)	Acquired 1999		98.5%			929,779		Macy's, Sears, Best Buy, T.J. Maxx N More, Dick's Sporting Goods, Work Out World
90.	St. Charles Towne Center	MD	Waldorf (Washington, D.C.)	Fee		100.0	%	Built 1990		98.0%			980,765		Macy's (9), JCPenney, Sears, Kohl's, Dick Sporting Goods, AMC Theatres
91.	St. Johns Town Center	FL	Jacksonville	Fee		50.0	% (4)	Built 2005		100.0	%		1,390,913		Dillard's, Target, Ashley Furniture Home Store, Barnes & Noble, Dick's Sporting Goods, Ross Dress for Less, Staples, DSW, JoAnn Fabrics, PetsMart, Nordstrom, Arhaus Furniture
92.	Stanford Shopping Center	CA	Palo Alto (San Jose)	Ground Lease (2054)		94.4	% (12)	Acquired 2003		98.1%			1,233,578		Neiman Marcus, Bloomingdale's, Nordstrom, Macy's (9), Crate and Barrel, The Container Store
93.	Stoneridge Shopping Center	CA	Pleasanton (San Francisco)	Fee		49.9	% (4)	Acquired 2007		98.6%			1,301,214		Macy's (9), Nordstrom, Sears, JCPenney
94.	Summit Mall	OH	Akron	Fee		100.0	%	Built 1965		96.7%			769,431		Dillard's (9), Macy's
95.	Tacoma Mall	WA	Tacoma (Seattle)	Fee		100.0	%	Acquired 1987		94.3%			1,335,516		Nordstrom, Macy's, JCPenney, Sears, David's Bridal, Forever 21
96.	Tippecanoe Mall	IN	Lafayette	Fee		100.0	%	Built 1973		98.4%			864,039		Macy's, JCPenney, Sears, Kohl's, Dick's Sporting Goods, hhgregg
97.	Town Center at Boca Raton	FL	Boca Raton (Miami)	Fee		100.0	%	Acquired 1998		100.0	%		1,779,596		Saks Fifth Avenue, Neiman Marcus, Bloomingdale's, Nordstrom, Macy's, Sears, Crate & Barrel, The Container Store
98.	Town Center at Cobb	GA	Kennesaw (Atlanta)	Fee		100.0	%	Acquired 1998		94.8%			1,280,798		Belk, Macy's, JCPenney, Sears, Macy's Men's & Furniture
99.	Towne East Square	KS	Wichita	Fee		100.0	%	Built 1975		98.8%			1,134,396		Dillard's, Von Maur, JCPenney, Sears
100.	Treasure Coast Square	FL	Jensen Beach	Fee		100.0	%	Built 1987		96.3%			876,437		Macy's, Dillard's, JCPenney, Sears, hhgregg, Regal Cinema
101.	Tyrone Square	FL	St. Petersburg (Tampa)	Fee		100.0	%	Built 1972		98.0%			1,094,153		Macy's, Dillard's, JCPenney, Sears, DSW, Cobb 10 Luxury Theatres (6)
102.	University Park Mall	IN	Mishawaka	Fee		100.0	%	Built 1979		98.0%			920,985		Macy's, JCPenney, Sears, Barnes & Noble
103.	Walt Whitman Shops	NY	Huntington Station (New York)	Fee and Ground Lease (2032) (7)		100.0	%	Acquired 1998		99.0%			1,087,715		Saks Fifth Avenue, Bloomingdale's, Lord & Taylor, Macy's, Zara (6)
104.	West Town Mall	TN	Knoxville	Ground Lease (2042)		50.0	% (4)	Acquired 1991		98.0%			1,334,851		Belk (9), Dillard's, JCPenney, Sears, Regal Cinema
105.	Westchester, The	NY	White Plains (New York)	Fee		40.0	% (4)	Acquired 1997		97.4%			826,292		Neiman Marcus, Nordstrom
106.	White Oaks Mall	IL	Springfield	Fee		80.7	%	Built 1977		89.8%			924,615		Macy's, Bergner's, Sears, Dick's Sporting Goods, hhgregg, LA Fitness
107.	Wolfchase Galleria	TN	Memphis	Fee		94.5	%	Acquired 2002		98.7%			1,151,233		Macy's, Dillard's, JCPenney, Sears, Malco Theatres
108.	Woodfield Mall	IL	Schaumburg (Chicago)	Fee		50.0	% (4)	Acquired 2012		96.9%			2,172,855		Nordstrom, Macy's, Lord & Taylor, JCPenney, Sears, Arhaus Furniture, Level 257 (6)
109.	Woodland Hills Mall	OK	Tulsa	Fee		94.5	%	Acquired 2002		98.6%			1,087,032		Macy's, Dillard's, JCPenney, Sears

	Total Mall GLA												122,673,199	(16)

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		96.3%			429,555	Adidas, American Eagle Outfitters, Ann Taylor, Banana Republic, Calvin Klein, Coach, Columbia Sportswear, Gap Outlet, Guess, Kenneth Cole, Loft Outlet, Lululemon, Michael Kors, Nike, Polo Ralph Lauren, Tommy Hilfiger, Under Armour
2.	Allen Premium Outlets	TX	Allen (Dallas)	Fee		100.0	%	Acquired 2004		100.0	%		441,762	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		97.2%			285,307	Ann Taylor, Banana Republic, Brooks Brothers, Calvin Klein, Coach, Gap Outlet, Michael Kors, 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		92.0%			678,703	Adidas, Ann Taylor, Banana Republic, BCBG Max Azria, Brooks Brothers, Calvin Klein, Coach, Guess, J.Crew, Lacoste, Nike, Polo Ralph Lauren, Puma, Tommy Hilfiger, The North Face
5.	Calhoun Premium Outlets	GA	Calhoun	Fee		100.0	%	Acquired 2010		96.8%			254,053	Ann Taylor, Carter's, Coach, Gap Outlet, Gymboree, Nike, Polo Ralph Lauren, Tommy Hilfiger
6.	Camarillo Premium Outlets	CA	Camarillo (Los Angeles)	Fee		100.0	%	Acquired 2004		99.3%			674,834	Ann Taylor, Armani Outlet, Banana Republic, Brooks Brothers, Calvin Klein, Coach, Diesel, Hugo Boss, Last Call by Neiman Marcus, Nike, Polo Ralph Lauren, Saks Fifth Avenue Off 5th, Tommy Hilfiger, Tory Burch
7.	Carlsbad Premium Outlets	CA	Carlsbad (San Diego)	Fee		100.0	%	Acquired 2004		100.0%			289,461	Adidas, Banana Republic, BCBG Max Azria, Calvin Klein, Coach, Cole Haan, DKNY, Elie Tahari, Gap Outlet, Lacoste, Michael Kors, Nike, Polo Ralph Lauren, Theory, Vince
8.	Carolina Premium Outlets	NC	Smithfield (Raleigh)	Fee		100.0	%	Acquired 2004		97.9%			438,870	Adidas, Banana Republic, Brooks Brothers, Coach, Gap Outlet, J.Crew, Levi's, Nike, Polo Ralph Lauren, Talbots, Tommy Hilfiger, Under Armour
9.	Charlotte Premium Outlets	NC	Charlotte	Fee		50.0	% (4)	Built 2014		99.1%			398,690	Adidas, Ann Taylor, Banana Republic, Brooks Brothers, Cole Haan, Gap Outlet, Kate Spade, Michael Kors, Saks Fifth Avenue Off 5th, Under Armour
10.	Chicago Premium Outlets (13)	IL	Aurora (Chicago)	Fee		100.0	%	Built 2004		98.0%			437,483	Adidas, Ann Taylor, Armani Outlet, A/X Armani Exchange, Banana Republic, Brooks Brothers, Calvin Klein, Coach, Diesel, Elie Tahari, Gap Outlet, J.Crew, Kate Spade New York, Lacoste, Max Mara, Michael Kors, Polo Ralph Lauren, Saks Fifth Avenue Off 5th (6), Salvatore Ferragamo, Tag Heuer, Theory, Under Armour, Vera Bradley
11.	Cincinnati Premium Outlets	OH	Monroe (Cincinnati)	Fee		100.0	%	Built 2009		100.0%			398,835	Adidas, Banana Republic, Brooks Brothers, Coach, Cole Haan, Gap Outlet, J.Crew, Lacoste, Michael Kors, Nike, Polo Ralph Lauren, Saks Fifth Avenue Off 5th, Tommy Hilfiger, The North Face
12.	Clinton Crossing Premium Outlets	CT	Clinton	Fee		100.0	%	Acquired 2004		100.0%			276,188	Adidas, American Eagle Outfitters, Ann Taylor, Banana Republic, Brooks Brothers, Calvin Klein, Coach, Cole Haan, DKNY, Gap Outlet, J.Crew, Lucky Brand, Michael Kors, Nike, Polo Ralph Lauren, Saks Fifth Avenue Off 5th, Talbots, Tommy Hilfiger, Tumi, Under Armour, Vera Bradley
13.	Columbia Gorge Premium Outlets	OR	Troutdale (Portland)	Fee		100.0	%	Acquired 2004		89.0%			163,736	Adidas, Carter's, Coach, Eddie Bauer, Gap Outlet, Gymboree, Levi's, Tommy Hilfiger
14.	Desert Hills Premium Outlets (13)	CA	Cabazon (Palm Springs)	Fee		100.0	%	Acquired 2004		93.6%			650,941	Alexander McQueen, Armani Outlet, Burberry, Coach, Gucci, Lacoste, Last Call by Neiman Marcus, Marc Jocobs, Nike, Polo Ralph Lauren, Prada, Saks Fifth Avenue Off 5th, Salvatore Ferragamo, Theory, Tory Burch, True Religion, Yves Saint Laurent, Zegna
15.	Edinburgh Premium Outlets	IN	Edinburgh (Indianapolis)	Fee		100.0	%	Acquired 2004		97.8%			377,839	Abercrombie & Fitch (6), Adidas, American Eagle Outfitters, Ann Taylor, Banana Republic, Calvin Klein, Coach, DKNY, Express (6), Gap Outlet, J.Crew, Levi's, Michael Kors, Nike, Polo Ralph Lauren, Tommy Hilfiger, Under Armour, White House Black Market
16.	Ellenton Premium Outlets	FL	Ellenton (Tampa)	Fee		100.0	%	Acquired 2010		99.4%			476,467	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

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
17.	Folsom Premium Outlets	CA	Folsom (Sacramento)	Fee		100.0	%	Acquired 2004		97.4%		297,701	Adidas, BCBG Max Azria, Banana Republic, Calvin Klein, Coach, Gap Outlet, Guess, Kenneth Cole, Loft Outlet, Nike, Saks Fifth Avenue Off 5th, Tommy Hilfiger
18.	Gaffney Premium Outlets	SC	Gaffney (Greenville/Charlotte)	Fee		100.0	%	Acquired 2010		93.6%		359,825	Adidas, Ann Taylor, Banana Republic, BCBG Max Azria, Brooks Brothers, Coach, Gap Outlet, J.Crew, Michael Kors, Nike, Polo Ralph Lauren
19.	Gilroy Premium Outlets	CA	Gilroy (San Jose)	Fee		100.0	%	Acquired 2004		99.1%		577,872	Adidas, Ann Taylor, Banana Republic, Brooks Brothers, Calvin Klein, Coach, Elie Tahari, Hugo Boss, J.Crew, Lululemon, Michael Kors, Nike, Polo Ralph Lauren, Saks Fifth Avenue Off 5th, Sony, The North Face, Tommy Hilfiger, True Religion
20.	Grand Prairie Premium Outlets	TX	Grand Prairie (Dallas)	Fee		100.0	%	Built 2012		98.9%		417,211	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, Under Armour
21.	Grove City Premium Outlets	PA	Grove City (Pittsburgh)	Fee		100.0	%	Acquired 2010		100.0%		531,459	American Eagle Outfitters, Ann Taylor, Banana Republic, BCBG Max Azria, Brooks Brothers, Calvin Klein, Coach, Gap Outlet, Guess, J.Crew, Nike, Polo Ralph Lauren, The North Face, Under Armour, Vera Bradley
22.	Gulfport Premium Outlets	MS	Gulfport	Ground Lease (2059)		100.0	%	Acquired 2010		98.5%		300,233	Ann Taylor, Banana Republic, BCBG Max Azria, Coach, Gap Outlet, J.Crew, Nike, Polo Ralph Lauren, Talbots, Tommy Hilfiger, Under Armour
23.	Hagerstown Premium Outlets	MD	Hagerstown (Baltimore/Washington D.C.	Fee		100.0	%	Acquired 2010		96.7%		485,132	Adidas, American Eagle Outfitters, Ann Taylor, Banana Republic, Brooks Brothers, Calvin Klein, Coach, Columbia Sportswear, Gap Outlet, Guess, J.Crew, Kate Spade New York, Loft Outlet, Nike, The North Face, Timberland, Tommy Hilfiger, Under Armour
24.	Houston Premium Outlets	TX	Cypress (Houston)	Fee		100.0	%	Built 2008		100.0%		541,760	Ann Taylor, A/X Armani Exchange, Banana Republic, Burberry, Calvin Klein, Coach, Cole Haan, DKNY, Elie Tahari, Gap Outlet, J.Crew, Lucky Brand, Michael Kors, Nike, Saks Fifth Avenue Off 5th, Tommy Hilfiger, Tory Burch, Vera Bradley
25.	Jackson Premium Outlets	NJ	Jackson (New York)	Fee		100.0	%	Acquired 2004		98.3%		285,617	Adidas, American Eagle Outfitters, Ann Taylor, Banana Republic, Brooks Brothers, Calvin Klein, Coach, Gap Outlet, Guess, J.Crew, Loft Outlet, Lucky Brand, Nike, Polo Ralph Lauren, Reebok, Talbots, Timberland, Tommy Hilfiger, Under Armour
26.	Jersey Shore Premium Outlets	NJ	Tinton Falls (New York)	Fee		100.0	%	Built 2008		99.0%		434,363	Adidas, American Eagle Outfitters, Ann Taylor, A/X Armani Exchange, Banana Republic, Burberry, Brooks Brothers, Coach, Cole Haan, Columbia Sportswear, Diesel, DKNY, Eddie Bauer, Elie Tahari, Guess, J.Crew, Kate Spade New York, Lacoste, Lucky Brand, Michael Kors, Nike, Talbots, Theory, Tommy Hilfiger, True Religion, Under Armour, Ugg
27.	Johnson Creek Premium Outlets	WI	Johnson Creek	Fee		100.0	%	Acquired 2004		95.8%		276,373	Adidas, American Eagle Outfitters, Ann Taylor, Banana Republic, Calvin Klein, Columbia Sportswear, Eddie Bauer, Gap Outlet, Nike, Polo Ralph Lauren, Tommy Hilfiger, Under Armour
28.	Kittery Premium Outlets	ME	Kittery	Fee and Ground Lease (2049) (7)		100.0	%	Acquired 2004		98.5%		259,403	Adidas, American Eagle Outfitters, Ann Taylor, Banana Republic, Calvin Klein, Chico's, Coach, Columbia Sportswear, Gap Outlet, J.Crew, Movado, Nike, Polo Ralph Lauren, Reebok, Tommy Hilfiger
29.	Las Americas Premium Outlets	CA	San Diego	Fee		100.0	%	Acquired 2007		95.9%		555,261	Ann Taylor, Banana Republic, Brooks Brothers, Calvin Klein, Coach, Gap Outlet, Guess, Hugo Boss, J.Crew, Nike, Polo Ralph Lauren, Reebok, Tommy Bahama, Tommy Hilfiger, True Religion, Under Armour
30.	Las Vegas North Premium Outlets (13)	NV	Las Vegas	Fee		100.0	%	Built 2003		97.5%		527,779	Armani Outlet, A/X Armani Exchange, Ann Taylor, Banana Republic, Burberry, Coach, David Yurman, Diesel, Dolce & Gabbana, Elie Tahari, Etro, Hugo Boss, Lacoste, Last Call by Neiman Marcus (6), Nike, Polo Ralph Lauren, Saks Fifth Avenue Off 5th (6), Salvatore Ferragamo, St. John, TAG Heuer, Ted Baker, True Religion

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
31.	Las Vegas South Premium Outlets	NV	Las Vegas	Fee		100.0	%	Acquired 2004		98.7%			535,772	Adidas, Ann Taylor, Banana Republic, Bose, Brooks Brothers, Calvin Klein, Coach, DKNY, Gap Outlet, Kenneth Cole, Levi's, Michael Kors, Nike, Polo Ralph Lauren, Reebok, Tommy Hilfiger, Under Armour, Vera Bradley
32.	Lebanon Premium Outlets	TN	Lebanon (Nashville)	Fee		100.0	%	Acquired 2010		90.7%			227,271	Ann Taylor, Brooks Brothers, Coach, Eddie Bauer, Gap Outlet, Loft Outlet, Nike, Polo Ralph Lauren, Reebok, Samsonite
33.	Lee Premium Outlets	MA	Lee	Fee		100.0	%	Acquired 2010		99.8%			224,850	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
34.	Leesburg Corner Premium Outlets	VA	Leesburg (Washington D.C.)	Fee		100.0	%	Acquired 2004		99.3%			517,992	Ann Taylor, Armani Outlet, Brooks Brothers, Burberry, Coach, Columbia Sportswear, Diesel, DKNY, Elie Tahari, Hugo Boss, Lacoste, Nike, Polo Ralph Lauren, Restoration Hardware, Saks Fifth Avenue Off 5th, Under Armour, Vera Bradley, Williams-Sonoma
35.	Liberty Village Premium Outlets	NJ	Flemington (New York)	Fee		100.0	%	Acquired 2004		88.9%			162,217	American Eagle Outfitters, Ann Taylor, Brooks Brothers, Calvin Klein, Coach, G.H. Bass & Co., J.Crew, Michael Kors, Polo Ralph Lauren, Timberland
36.	Lighthouse Place Premium Outlets	IN	Michigan City (Chicago, IL)	Fee		100.0	%	Acquired 2004		100.0%			454,730	Adidas, American Eagle Outfitters, Ann Taylor, Banana Republic, BCBG Max Azria, Calvin Klein, Coach, Columbia Sportswear, DKNY, Gap Outlet, Guess, Hollister, J.Crew, Movado, Nike, Polo Ralph Lauren, The North Face, Tommy Hilfiger, Under Armour
37.	Merrimack Premium Outlets	NH	Merrimack	Fee		100.0	%	Built 2012		99.2%			408,996	Ann Taylor, Banana Republic, Bloomingdale's The Outlet Store, 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, Under Armour, White House Black Market
38.	Napa Premium Outlets	CA	Napa	Fee		100.0	%	Acquired 2004		99.3%			179,168	Ann Taylor, Banana Republic, BCBG Max Azria, Brooks Brothers, Calvin Klein, Coach, Cole Haan, Gap Outlet, J.Crew, Lucky Brand, Michael Kors, Polo Ralph Lauren, Tommy Hilfiger
39.	North Bend Premium Outlets	WA	North Bend (Seattle)	Fee		100.0	%	Acquired 2004		97.7%			223,552	Banana Republic, Carter's, Coach, Eddie Bauer, Gap Outlet, Nike, PacSun, Under Armour, Van Heusen, VF Outlet
40.	North Georgia Premium Outlets	GA	Dawsonville (Atlanta)	Fee		100.0	%	Acquired 2004		100.0	%		540,312	Ann Taylor, Armani Outlet, Banana Republic, Brooks Brothers, Burberry, Calvin Klein, Coach, Cole Haan, Elie Tahari, Hugo Boss, J.Crew, Kate Spade, Michael Kors, Nike, Polo Ralph Lauren, Restoration Hardware, Saks Fifth Avenue Off 5th, Talbots, The North Face, Tommy Hilfiger, Williams-Sonoma
41.	Orlando International Premium Outlets	FL	Orlando	Fee		100.0	%	Acquired 2010		98.5%			773,644	7 For All Mankind, Adidas, Banana Republic, Calvin Klein, Coach, DKNY, J.Crew, Kate Spade, Kenneth Cole, Lacoste, Last Call by Neiman Marcus, Michael Kors, Polo Ralph Lauren, Saks Fifth Avenue Off 5th, The North Face, Tommy Hilfiger, True Religion, Victoria's Secret
42.	Orlando Vineland Premium Outlets	FL	Orlando	Fee		100.0	%	Acquired 2004		100.0%			655,004	Adidas, Armani Outlet, A/X Armani Exchange, Brunello Cucinelli, Burberry, Calvin Klein, Carolina Herrera, Coach, Cole Haan, Diesel, Fendi, Hugo Boss, J.Crew, Lacoste, Michael Kors, Nike, Prada, Polo Ralph Lauren, Roberto Cavalli, Saks Fifth Avenue Off 5th, Salvatore Ferragamo, TAG Heuer, The North Face, Tod's, Tory Burch, Vera Bradley, Zegna
43.	Osage Beach Premium Outlets	MO	Osage Beach	Fee		100.0	%	Acquired 2004		94.3%			392,450	Adidas, Ann Taylor, Banana Republic, Brooks Brothers, Calvin Klein, Coach, Eddie Bauer, Gap Outlet, Levi's, Nike, Polo Ralph Lauren, Tommy Hilfiger, Under Armour

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
44.	Petaluma Village Premium Outlets	CA	Petaluma (San Francisco)	Fee		100.0	%	Acquired 2004		96.7%		195,566	Adidas, 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		99.6%		549,137	Adidas, American Eagle Outfitters, Ann Taylor, Banana Republic, Brooks Brothers, Calvin Klein, Coach, Cole Haan, Diesel, DKNY, Elie Tahari, Gap Outlet, Guess, J.Crew, Last Call by Neiman Marcus, Loft Outlet, Michael Kors, Movado, Nike, Polo Ralph Lauren, Puma, Restoration Hardware, Theory, Under Armour, Vera Bradley, Ugg
46.	Phoenix Premium Outlets	AZ	Chandler (Phoenix)	Ground Lease (2077)		100.0	%	Built 2013		98.7%		356,496	Banana Republic, Brooks Brothers, Calvin Klein, Coach, Elie Tahari, Gap Factory Store, Hugo Boss, Lucky Brand, Michael Kors, Nike, Saks Fifth Avenue Off 5th, Tommy Bahama, Tommy Hilfiger, Under Armour
47.	Pismo Beach Premium Outlets	CA	Pismo Beach	Fee		100.0	%	Acquired 2010		100.0%		147,416	Calvin Klein, Carter's, Coach, Guess, Levi's, Nike, Nine West, Quiksilver, Skechers, Tommy Hilfiger, Van Heusen
48.	Pleasant Prairie Premium Outlets	WI	Pleasant Prairie (Chicago/Milwaukee)	Fee		100.0	%	Acquired 2010		97.0%		402,540	Adidas, Ann Taylor, Banana Republic, Brooks Brothers, Calvin Klein, Coach, Cole Haan, Gap Outlet, Hugo Boss, Kate Spade, J.Crew, Lacoste, Loft Outlet, Michael Kors, Nike, Polo Ralph Lauren, St. John, The North Face, Under Armour, Ugg
49.	Puerto Rico Premium Outlets	PR	Barceloneta	Fee		100.0	%	Acquired 2010		97.5%		341,951	Adidas, American Eagle Outfitters, Ann Taylor, Banana Republic, BCBG Max Azria, Calvin Klein, Coach, Disney Store Outlet, Gap Outlet, Guess, Kenneth Cole, Lacoste, Loft Outlet, Michael Kors, Nike, Polo Ralph Lauren, Puma, Tommy Hilfiger
50.	Queenstown Premium Outlets	MD	Queenstown (Baltimore)	Fee		100.0	%	Acquired 2010		97.7%		289,472	Adidas, Banana Republic, BCBG Max Azria, Brooks Brothers, Calvin Klein, Coach, Columbia sportswear, J.Crew, Kate Spade New York, Loft Outlet, Michael Kors, Nike, Polo Ralph Lauren, St. John, Talbots, Tommy Bahama
51.	Rio Grande Valley Premium Outlets	TX	Mercedes (McAllen)	Fee		100.0	%	Built 2006		100.0%		604,105	Adidas, American Eagle Outfitters, Ann Taylor, Banana Republic, BCBG Max Azria, Burberry, Calvin Klein, Coach, DKNY, Express, Gap Outlet, Guess, Hugo Boss, Loft Outlet, Nike, Polo Ralph Lauren, Saks Fifth Avenue Off 5th, Tommy Hilfiger, True Religion, VF Outlet
52.	Round Rock Premium Outlets	TX	Round Rock (Austin)	Fee		100.0	%	Built 2006		99.3%		488,672	Adidas, Ann Taylor, Banana Republic, Brooks Brothers, Burberry, Calvin Klein, Coach, Gap Outlet, Guess, J.Crew, Michael Kors, Nike, Polo Ralph Lauren, Tommy Hilfiger
53.	San Francisco Premium Outlets (13)	CA	Livermore (San Francisco)	Fee and Ground Lease (2021) (10)		100.0	%	Built 2012		98.2%		511,926	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
54.	San Marcos Premium Outlets	TX	San Marcos (Austin/San Antonio	Fee		100.0	%	Acquired 2010		98.5%		731,991	Banana Republic, Cole Haan, Diane Von Furstenberg, 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, The North Face, Tommy Bahama, Ugg, Victoria's Secret
55.	Seattle Premium Outlets	WA	Tulalip (Seattle)	Ground Lease (2079)		100.0	%	Built 2005		99.3%		554,766	Abercrombie, Adidas, Ann Taylor, Banana Republic, Burberry, Calvin Klein, Coach, Elie Tahari, Hugo Boss, J.Crew, Michael Kors, Nike, Polo Ralph Lauren, Restoration Hardware, The North Face, Tommy Bahama, Tommy Hilfiger

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
56.	Silver Sands Premium Outlets	FL	Destin	Fee		50.0	% (4)	Acquired 2012		98.0%		451,087	Adidas, American Eagle Outfitters, Ann Taylor, Armani Outlet, Banana Republic, Brooks Brothers, Coach, Cole Haan, Columbia Sportswear, DKNY, Dooney & Bourke, J.Crew, Michael Kors, Movado, Nike, Saks Fifth Avenue Off 5th, The North Face, Tommy Hilfiger, Under Armour
57.	St. Augustine Premium Outlets	FL	St. Augustine (Jacksonsville)	Fee		100.0	%	Acquired 2004		96.5%		328,539	Adidas, American Eagle Outfitters, Ann Taylor, Banana Republic, Brooks Brothers, Calvin Klein, Coach, Gap Outlet, J.Crew, Movado, Nike, Polo Ralph Lauren, Puma (6), Reebok, Tommy Bahama, Tommy Hilfiger, Under Armour
58.	St. Louis Premium Outlets	MO	St. Louis (Chesterfield)	Fee		60.0	% (4)	Built 2013		99.1%		351,462	Ann Taylor, Armani Outlet, BCBG Max Azria, Coach, Columbia Sportswear, Crabtree & Evelyn, Elie Tahari, J. Crew, Kate Spade New York, Michael Kors, Nike, Saks Fifth Avenue Off 5th, St. John, Tommy Hilfiger, Ugg, Under Armour, Vera Bradley
59.	Tanger Outlets — Galveston/Houston (1)	TX	Texas City	Fee		50.0	% (4)	Built 2012		98.4%		352,705	Banana Republic, Brooks Brothers, Coach, Gap Outlet, J. Crew, Kenneth Cole, Michael Kors, Nike, Reebok, Tommy Hilfiger, White House Black Market
60.	The Crossings Premium Outlets	PA	Tannersville	Fee and Ground Lease (2019) (7)		100.0	%	Acquired 2004		96.8%		411,520	Adidas, American Eagle Outfitters, Ann Taylor, Banana Republic, Brooks Brothers, Calvin Klein, Coach, Cole Haan, Guess, J.Crew, Kate Spade, Nike, Polo Ralph Lauren, Reebok, The North Face, Timberland, Tommy Hilfiger, Under Armour
61.	Twin Cities Premium Outlets	MN	Eagan	Fee		35.0	% (4)	Built 2014		97.3%		408,944	Adidas, Ann Taylor, Armani Outlet, Banana Republic, Brooks Brothers, Calvin Klein, Coach, Gap Outlet, J. Crew, Michael Kors, Movado, Nike, Robert Graham, Saks Fifth Avenue Off 5th, Talbots, True Religion, Under Armour, Vera Bradley
62.	Vacaville Premium Outlets	CA	Vacaville	Fee		100.0	%	Acquired 2004		99.5%		440,040	Adidas, Ann Taylor, Banana Republic, Calvin Klein, Coach, Cole Haan, Columbia Sportswear, DKNY, Gucci, J.Crew, Michael Kors, Nike, Polo Ralph Lauren, Restoration Hardware, Tommy Bahama, Tommy Hilfiger
63.	Waikele Premium Outlets (13)	HI	Waipahu (Honolulu)	Fee		100.0	%	Acquired 2004		95.4%		215,546	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
64.	Waterloo Premium Outlets	NY	Waterloo	Fee		100.0	%	Acquired 2004		96.6%		417,752	Ann Taylor, Banana Republic, Brooks Brothers, Calvin Klein, Chico's, Coach, Columbia Sportswear, Gap Outlet, J.Crew, Levi's, Loft Outlet, Nike, Polo Ralph Lauren, Puma, Talbots, Timerberland, Tommy Hilfiger, Under Armour, VF Outlet
65.	Williamsburg Premium Outlets	VA	Williamsburg	Fee		100.0	%	Acquired 2010		97.5%		521,931	Adidas, American Eagle Outfitters, Ann Taylor, Banana Republic, Brooks Brothers, Burberry, Calvin Klein, Coach, Cole Haan, Columbia Sportswear, Dooney & Bourke, Hugo Boss, J.Crew, Kate Spade New York, Loft Outlet, Lucky Brand, Michael Kors, Nike, Polo Ralph Lauren, Talbots, The North Face, Tommy Bahama, Tommy Hilfiger, True Religion, Under Armour
66.	Woodburn Premium Outlets	OR	Woodburn (Portland)	Fee		100.0	%	Acquired 2013		99.2%		389,773	Adidas, Ann Taylor, Banana Republic, Cole Haan, Eddie Bauer, Fossil, Gap Outlet, J. Crew, Max Studio, Nike, The North Face, Polo Ralph Lauren, Puma, Tommy Hilfiger

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
67.	Woodbury Common Premium Outlets (13)	NY	Central Valley (New York)	Fee		100.0	%	Acquired 2004		99.0%		854,448	Armani Outlet, Banana Republic, Burberry, Chloe, Coach, Dior, Dolce & Gabbana, Fendi, 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
68.	Wrentham Village Premium Outlets	MA	Wrentham (Boston)	Fee		100.0	%	Acquired 2004		99.1%		660,101	All Saints, Ann Taylor, Armani Outlet, Banana Republic, Barneys New York, Bloomingdale's The Outlet Store, Brooks Brothers, Burberry, Calvin Klein, Coach, Cole Haan, DKNY, Elie Tahari, Hugo Boss, J.Crew, Kate Spade, Lacoste, Michael Kors, Movado, Nike, Polo Ralph Lauren, Restoration Hardware, Robert Graham, Saks Fifth Avenue Off 5th, Salvatore Ferragamo, Ted Baker, Theory, Tommy Hilfiger, Tory Burch, True Religion, Under Armour

	Total U.S. Premium Outlets GLA											28,796,557

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
	The Mills
1.	Arizona Mills	AZ	Tempe (Phoenix)	Fee		100.0	%	Acquired 2007		98.5%		1,239,804	Marshalls, Last Call by Neiman Marcus, Saks Fifth Avenue Off 5th (15), Burlington Coat Factory, Sears Appliance Outlet, Gameworks, Sports Authority (11), Ross Dress for Less, At Home, Group USA, Harkins Cinemas & IMAX, Sea Life Center, Conn's
2.	Arundel Mills	MD	Hanover (Baltimore)	Fee		59.3	% (4)	Acquired 2007		100.0%		1,662,640	Bass Pro Shops Outdoor World, 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, Forever 21
3.	Colorado Mills	CO	Lakewood (Denver)	Fee		37.5	% (4)	Acquired 2007		96.3%		1,410,205	Forever 21, Jumpstreet, Last Call by Neiman Marcus, Off Broadway Shoe Warehouse, Saks Fifth Avenue Off 5th, Sports Authority, Super Target, United Artists Theatre, Burlington Coat Factory, H&M
4.	Concord Mills	NC	Concord (Charlotte)	Fee		59.3	% (4)	Acquired 2007		99.5%		1,343,551	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, AMC Theatres, Best Buy, Forever 21, Sea Life Center
5.	Grapevine Mills	TX	Grapevine (Dallas)	Fee		59.3	% (4)	Acquired 2007		93.3%		1,778,483	Bed Bath & Beyond, Burlington Coat Factory, The Children's Place, Group USA, Marshalls, Nike Factory Store, Saks Fifth Avenue Off 5th, AMC Theatres, Sun & Ski Sports, Last Call by Neiman Marcus, Sears Appliance Outlet, Bass Pro Shops 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		98.9%		1,366,245	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, Uniqlo
7.	Gurnee Mills	IL	Gurnee (Chicago)	Fee		100.0	%	Acquired 2007		98.9%		1,918,263	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 Neiman Marcus, Value City Furniture, Shoppers World, Off Broadway Shoe Warehouse, Macy's
8.	Katy Mills	TX	Katy (Houston)	Fee		62.5	% (4) (2)	Acquired 2007		98.9%		1,747,461	Bass Pro Shops Outdoor World, Bed Bath and Beyond, Books-A-Million, Burlington Coat Factory, Jumpstreet, Marshalls, Last Call by Neiman Marcus, Nike Factory Store, Saks Fifth Avenue Off 5th, Sun & Ski Sports, AMC Theatres, Off Broadway Shoes, Tilt, Ross Dress for Less, H&M
9.	Ontario Mills	CA	Ontario (Riverside)	Fee		50.0	% (4)	Acquired 2007		99.7%		1,471,353	Burlington Coat Factory, Nike Factory Store, Gameworks, The Children's Place Outlet, Marshalls, 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		96.9%		1,153,536	Regal Cinema & IMAX, Dave & Busters, VF Outlet, Sun & Ski, Bass Pro Shops Outdoor World, Forever 21, Bed Bath & Beyond, Saks Fifth Avenue Off 5th, Off Broadway Shoes, H&M

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
11.	Outlets at Orange, The	CA	Orange (Los Angeles)	Fee		50.0	% (4)	Acquired 2007		99.2%		805,311	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		99.6%		1,525,636	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/and That!
13.	Sawgrass Mills	FL	Sunrise (Miami)	Fee		100.0	%	Acquired 2007		99.1%		2,197,314	American Signature Home, Bed Bath & Beyond, Brandsmart USA, Burlington Coat Factory, Gameworks, 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, Urban Planet, VF Factory Outlet, F.Y.E., Off Broadway Shoes, Regal Cinema, Bloomingdale's Outlet, Forever 21

	Total Mills Properties											19,619,802

	Community Centers
1.	ABQ Uptown	NM	Albuquerque	Fee		100.0	%	Acquired 2011		99.3%		230,036
2.	Hamilton Town Center	IN	Noblesville (Indianapolis)	Fee		50.0	% (4)	Built 2008		91.3%		672,896	JCPenney, Dick's Sporting Goods, Stein Mart, Bed Bath & Beyond, DSW, Hamilton 16 IMAX, Earth Fare
3.	Pier Park	FL	Panama City Beach	Fee		65.6	% (4)	Built 2008		96.6%		882,654	Dillard's, JCPenney, Target, Grand Theatres, Ron Jon Surf Shop, Margaritaville, Marshalls, Dave & Buster's

	Total Community Centers GLA											1,785,586



	Other Properties
1.	Circle Centre	IN	Indianapolis	Property Lease (2097)		14.7	% (4) (2)	Built 1995		94.9%		751,652	Carson's, United Artists Theatre, Indianapolis Star
2.	Florida Keys Outlet Center	FL	Florida City	Fee		100.0	%	Acquired 2010		88.6%		206,349	American Eagle, 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		53.5%		278,845	Ann Taylor, Banana Republic, Bose, Calvin Klein, Carter's, Eddie Bauer, Gap Outlet, Guess, Reebok, Tommy Hilfiger
4.	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
5.	Indian River Mall	FL	Vero Beach	Fee		50.0	% (4)	Built 1996		84.3%		736,262	Dillard's, Macy's, JCPenney, Sears, AMC Theatres
6.	Lincoln Plaza	PA	King of Prussia (Philadelphia)	Fee		85.5	%	Acquired 2003		100.0%		268,086	AC Moore, Michaels, T.J. Maxx, Home Goods, hhgregg, American Signature Furniture, DSW, (8)
7.	Naples Outlet Center	FL	Naples	Fee		100.0	%	Acquired 2010		68.7%		146,033	Ann Taylor, Bass, Coach, L'eggs/Hanes/Bali/Playtex, Loft Outlet, Samsonite, Van Heusen
8.	Outlet Marketplace	FL	Orlando	Fee		100.0	%	Acquired 2010		79.4%		199,316	American Eagle, Calvin Klein, Nike (6), Nine West, Reebok, Skechers
9.	Shops at Sunset Place, The	FL	S. Miami	Fee		37.5	% (4) (2)	Built 1999		83.4%		517,964	Barnes & Noble, Gametime, Z Gallerie, LA Fitness, AMC Theatres, Splitsville, (8)
10 - 14.	The Mills Limited Partnership (TMLP)							Acquired 2007				5,787,887

	Total Other GLA											9,148,336



	Total U.S. Properties GLA											182,023,480

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 and The Mills — Executed leases for all company-owned GLA (or total center GLA).

(6)

Indicates anchor or major that is currently under development or has announced plans for development.

(7)

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

(8)

Indicates vacant anchor space(s).

(9)

Tenant has multiple locations at this center.

(10)

Indicates ground lease covers outparcel only.

(11)

Tenant has an existing store at this center but will move to a new location.

(12)

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

(13)

Property is undergoing an expansion.

(14)

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

(15)

Indicates anchor has announced its intent to close this location.

(16)

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


Circle Centre — 129,944 sq. ft.		Greendale Mall — 119,860 sq. ft.
Copley Place — 869,018 sq. ft.		Menlo Park Mall — 49,481 sq. ft.
Domain, The — 156,240 sq. ft.		Oxford Valley Mall — 111,038 sq. ft.
Fashion Centre at Pentagon City, The — 169,550 sq. ft.		Plaza Carolina — 27,343 sq. ft.
Firewheel Town Center — 75,303 sq. ft.		Southdale Center — 20,393 sq. ft.

United States Lease Expirations

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, 2014. The data presented does not consider the impact of renewal options that may be contained in leases.

U.S. MALLS AND PREMIUM OUTLETS LEASE EXPIRATIONS (1)


YEAR	NUMBER OF LEASES EXPIRING		SQUARE FEET		AVG. BASE MINIMUM RENT PSF AT 12/31/14		PERCENTAGE OF GROSS ANNUAL RENTAL REVENUES (2)
Inline Stores and Freestanding
Month to Month Leases		434		1,242,185	$	44.68		1.2	%
2015		2,085		6,506,235	$	44.74		6.4	%
2016		2,444		8,274,653	$	42.38		7.7	%
2017		2,402		8,186,466	$	44.84		8.3	%
2018		2,218		8,259,805	$	47.00		8.6	%
2019		1,834		7,070,956	$	46.48		7.4	%
2020		1,342		5,239,299	$	46.74		5.5	%
2021		1,209		4,867,902	$	49.87		5.5	%
2022		1,447		5,589,313	$	48.97		6.1	%
2023		1,757		6,653,525	$	51.16		7.7	%
2024		1,551		5,897,684	$	53.19		6.9	%
2025 and Thereafter		572		3,126,265	$	45.09		3.2	%
Specialty Leasing Agreements w/ terms in excess of 12 months		766		1,795,916	$	21.95		0.9	%
Anchor Tenants
2015		7		736,118	$	4.38		0.1	%
2016		9		1,192,928	$	2.43		0.1	%
2017		18		2,546,584	$	2.59		0.1	%
2018		17		2,130,629	$	4.99		0.2	%
2019		21		2,231,012	$	5.16		0.3	%
2020		22		2,502,850	$	5.35		0.3	%
2021		9		732,696	$	9.26		0.1	%
2022		8		957,917	$	9.59		0.2	%
2023		9		1,223,016	$	10.54		0.3	%
2024		12		703,770	$	11.67		0.2	%
2025 and Thereafter		27		2,978,780	$	5.71		0.4	%

(1)

Does not consider the impact of renewal options that may be contained in leases. Excludes WPG properties.

(2)

Annual rental revenues represent domestic 2014 consolidated and joint venture combined base rental revenue excluding WPG properties.

International Properties

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

European Investments

On March 14, 2012, we acquired a 28.7% interest in Klépierre for approximately $2.0 billion. At December 31, 2014 we owned 57,634,148 shares, or approximately 28.9%, of Klépierre, which had a quoted market price of $43.45 per share. Klépierre is a publicly traded, Paris-based real estate company, which owns, or has an interest in shopping centers located in 13 countries in Europe. On July 29, 2014 Klépierre announced that it had entered into a conditional agreement to acquire Corio N.V., or Corio, pursuant to which Corio shareholders would receive 1.14 Klépierre ordinary shares for each Corio ordinary share. On January 15, 2015 the tender offer transaction closed, and it is anticipated that Klépierre will own all of the equity of Corio on March 31, 2015 through a merger transaction, after which our percentage ownership will be diluted to approximately 18.3%.

During the second quarter of 2013, we signed a definitive agreement with McArthurGlen, an owner, developer, and manager of designer outlets, to form one or more joint ventures to invest in certain of its existing designer outlets, development projects, and its property management and development companies. In conjunction with that agreement, we purchased a noncontrolling interest in the property management and development companies of McArthurGlen, and a noncontrolling interest in a development property located in Vancouver, British Columbia. On August 2, 2013 we acquired a noncontrolling interest in Ashford Designer Outlet in Kent, UK. On October 16, 2013 we completed transactions with McArthurGlen acquiring noncontrolling interests in portions of four existing McArthurGlen Designer Outlets — Parndorf (Vienna, Austria), La Reggia (Naples, Italy), Noventa di Piave (Venice, Italy), and Roermond (Roermond, Netherlands). During the quarter ended June 30, 2014, we purchased an additional 22.5% noncontrolling interest in Ashford Designer Outlet, increasing our percentage ownership of this entity to 45%. At December 31, 2014 our legal ownership interests in these entities range from 45% to 90%.

We own a 13.3% interest in Value Retail PLC and affiliated entities, which own or have interests in and operate nine luxury outlets throughout Europe. We also have a minority direct ownership in three of those outlets.

Other International Investments

We also hold a 40% interest in nine operating joint venture properties in Japan, a 50% interest in three operating joint venture properties in South Korea, a 50% interest in one operating joint venture property in Mexico, a 50% interest in one operating joint venture property in Malaysia, and a 50% interest in two operating joint venture properties in Canada. The nine Japanese Premium Outlets operate in various cities throughout Japan and comprise over 3.1 million square feet of GLA and were 99.1% leased as of December 31, 2014.

The following property tables summarize certain data for our properties located in Japan, South Korea, Mexico, Malaysia, Canada and the various European countries related to the McArthurGlen joint venture property locations at December 31, 2014:

Simon Property Group, Inc. and Subsidiaries Property Table International Properties


	COUNTRY/Property Name	City (Metropolitan area)	Ownership Interest	SPG Effective Ownership			Year Built	Total Gross Leasable Area		Retail Anchors and Major Tenants
INTERNATIONAL PREMIUM OUTLETS
	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, Gap Outlet, McGregor, MK Michel Klein, Nike, Tommy Hilfiger, Ralph Lauren
2.	Gotemba Premium Outlets	Gotemba City (Tokyo)	Fee		40.0	%	2000		481,500	Armani, Balenciaga, Bally, Banana Republic, 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, Hugo Boss, Loro Piana, Nike, Polo Ralph Lauren, Salvatore Ferragamo, Theory, Tommy Hilfiger, Valentino
4.	Rinku Premium Outlets	Izumisano (Osaka)	Ground Lease (2031)		40.0	%	2000		416,500	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, Diesel, Dunhill, Eddie Bauer, Etro, Furla, Gap Outlet, Gucci, Harrod's, Kate Spade, Miu Miu, Nike, Polo Ralph Lauren, Prada
6.	Sendai-Izumi Premium Outlets	Izumi Park Town (Sendai)	Ground Lease (2027)		40.0	%	2008		164,200	Adidas. Beams, Brooks Brothers, Coach, Forever21, Jill Stuart, Levi's, Pleats Please Issey Miyake, Tasaki, TaylorMade, United Arrows
7.	Shisui Premium Outlets	Shisui (Chiba), Japan	Ground Lease (2032)		40.0	%	2013		234,800	Banana Republic, Brooks Brothers, Citizen, Coach, Gap, Marmot, Michael Kors, Samsonite, Tommy Hilfiger, United Arrows
8.	Toki Premium Outlets	Toki (Nagoya)	Ground Lease (2024)		40.0	%	2005		367,700	Adidas, BCBG Max Azria, Beams, Brooks Brothers, Coach, Diesel, Eddie Bauer, Furla, Gap Outlet, MK Michel Klein, Nike, Olive des Olive, Polo Ralph Lauren, Puma, Timberland, Tommy Hilfiger, United Arrows
9.	Tosu Premium Outlets	Fukuoka (Kyushu)	Ground Lease (2023)		40.0	%	2004		290,400	Adidas, Armani, Banana Republic, BCBG Max Azria, Beams, Bose, Brooks Brothers, Burberry, Coach, Cole Haan, Courreges, Dolce & Gabbana, Furla, Gap Outlet, Miki House, Nike, Puma, Reebok, Theory, Tommy Hilfiger

	Subtotal Japan								3,101,900

Simon Property Group, Inc. and Subsidiaries Property Table International Properties


	COUNTRY/Property Name	City (Metropolitan area)	Ownership Interest	SPG Effective Ownership			Year Built	Total Gross Leasable Area		Retail Anchors and Major Tenants
	MEXICO
10.	Punta Norte Premium Outlets	Mexico City	Fee		50.0	%	2004		333,000	Adidas, Calvin Klein, CH Carolina Herrera, Coach, Kenneth Cole, Diesel, Lacoste, Levi's, MaxMara, Nautica, Nike, Palacio Outlet, Reebok, Rockport, Salvatore Ferragamo, Swarovski, Zegna
	Subtotal Mexico								333,000
	SOUTH KOREA
11.	Yeoju Premium Outlets	Yeoju (Seoul)	Fee		50.0	%	2007		286,200	Adidas, Giorgio Armani, Burberry, Chloe, Coach, Diesel, Dolce & Gabbana, Escada, Fendi, Gucci, Lacoste, Marc Jacobs, Michael Kors, Nike, Polo Ralph Lauren, Salvatore Ferragamo, Theory, Tod's, Valentino, Vivienne Westwood
12.	Paju Premium Outlets	Paju (Seoul)	Fee		50.0	%	2011		442,900	Armani, Banana Republic, Calvin Klein, Coach, DKNY, Escada, Jill Stuart, Lacoste, Lanvin Collection, Marc Jacobs, Michael Kors, Nike, Polo Ralph Lauren, Theory, Tory Burch, Vivienne Westwood
13.	Busan Premium Outlets	Busan	Fee		50.0	%	2013		360,200	Adidas, Armani, Banana Republic, Bean Pole, Calvin Klein, Coach, DKNY, Gap, Marc Jacobs, Michael Kors, Nike, Polo Ralph Lauren, Theory, The North Face, Tommy Hilfiger

	Subtotal South Korea								1,089,300
	MALAYSIA
14.	Johor Premium Outlets	Johor (Singapore)	Fee		50.0	%	2011		264,400	Adidas, Armani, Brooks Brothers, Burberry, Calvin Klein, Canali, Coach, DKNY, Gap, Guess, Lacoste, Levi's, Michael Kors, Nike, Salvatore Ferragamo, Timberland, Tommy Hilfiger, Zegna
	Subtotal Malaysia								264,400
	CANADA
15.	Toronto Premium Outlets	Toronto (Ontario)	Fee		50.0	%	2013		358,400	Adidas, Banana Republic, Burberry, Calvin Klein, Coach, Eddie Bauer, Gap, Lacoste, Michael Kors, Nike, Polo Ralph Lauren, Reebok, Tommy Hilfiger
16.	Premium Outlets Montreal	Montreal (Quebec)	Fee		50.0	%	2014		365,500	Adidas, American Eagle Outfitters, Banana Republic, Brooks Brothers, Burberry, Calvin Klein, Gap, Lacoste, Michael Kors, Nike, Old Navy, Polo Ralph Lauren, Reebok, Tommy Hilfiger
	Subtotal Canada								723,900

	TOTAL INTERNATIONAL PREMIUM OUTLETS								5,512,500

Simon Property Group, Inc. and Subsidiaries Property Table International Properties


	COUNTRY/Property Name	City (Metropolitan area)	Ownership Interest	SPG Effective Ownership			Year Built	Total Gross Leasable Area		Retail Anchors and Major Tenants
INTERNATIONAL DESIGNER OUTLETS
	AUSTRIA
1.	Parndorf Designer Outlet	Vienna	Fee		90.0	%	Phase 3 — 2005		118,000	Armani, Bally, Burberry, Calvin Klein, Diesel, Furla, Geox,
	Phases 3 & 4						Phase 4 — 2011			Gucci, Hugo Boss, Joop! Windsor Strellson, Michael Kors, Porsche Design, Prada, Swarovski, Zegna

	Subtotal Austria								118,000
	ITALY
2.	La Reggia Designer Outlet	Marcianise (Naples)	Fee		60.0	%	Phase 1 — 2010		288,000	Adidas, Armani, Calvin Klein, Hugo Boss, Lacoste, Lui Jo,
	Phases 1 & 2						Phase 2a — 2010			Michael Kors, Nike, Pinko, Polo Ralph Lauren, Prada,
							Phase 2b — 2011			Roberto Cavalli, Timberland, Tommy Hilfiger, Valentino, Versace
3.	Noventa Di Piave Designer	Venice	Fee		60.0	%	Phase 1 — 2008		280,000	Armani, Bally, Bottega Veneta, Brioni,
	Outlet Phases 1, 2, & 3						Phase 2 — 2010			Burberry, Calvin Klein, Fendi, Gucci, Hugo Boss, Loro Piana,
							Phase 3 — 2012			Michael Kors, Nike, Pinko, Paul Smith, Prada, Salvatore
										Ferragamo, Sergio Rossi, Tommy Hilfiger, Valentino, Versace

	Subtotal Italy								568,000
	NETHERLANDS
4.	Roermond Designer Outlet	Roermond	Fee		90.0	%	Phase 2 — 2005		173,000	Armani, Bally, Burberry, Calvin Klein Jeans, Escada, Furla,
	Phases 2 & 3						Phase 3 — 2011			Gucci, Hugo Boss, Joop! Windsor Strellson, Loro Piana,
										Michael Kors, Moncler, Mulberry, Prada,
										Ralph Lauren Luxury, Swarovski,
										Tod's, Tommy Hilfiger, UGG

	Subtotal Netherlands								173,000
	UNITED KINGDOM
5.	Ashford Designer Outlet	Kent	Fee		45.0	%	2000		183,000	Abercrombie and Fitch, Adidas, CK Underwear, Clarks, Fossil, French Connection, Gap, Guess, Lacoste, Levis, Marks & Spencer, Next, Nike, Polo Ralph Lauren, Reiss, Superdry, Swarovski, Tommy Hilfiger

	Subtotal United Kingdom								183,000

	Total International Designer Outlets								1,042,000

FOOTNOTES:

(1)

All gross leasable area listed in square feet.

Land

We have direct or indirect ownership interests in approximately 350 acres of land held in the United States and Canada for future development.

Sustainability and Energy Efficiency

We incorporate sustainable thinking into all areas of our business, from property development and operations, to doing business with customers, to engaging with the communities we serve, as well as our employees.

One main focus of our sustainability strategy is on energy conservation and energy efficiency. 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 280 million kWhs since 2003. This represents a 30% reduction in electricity usage across a portfolio of comparable properties and reflects an annual value of over $28 million in avoided operating costs. Our documented reduction in greenhouse gas emissions resulting from our energy management efforts is 481,500 metric tons of CO2e.

We have been globally recognized for our energy efficiency programs and transparency in disclosure practices. In 2014, we were listed on CDP's Climate Disclosure Leadership Index for the sixth time and included in the Climate Performance Leadership Index — identifying us as a leader in our sector for driving significant reduction in emissions due to implementation of energy efficient initiatives. Additionally, in 2014 we received the highest designation of a Green Star rating from the Global Real Estate Sustainability Benchmark.

Mortgage Financing on Properties

The following table sets forth certain information regarding the mortgages and unsecured 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.

** Mortgage and Unsecured Debt on Portfolio Properties As of December 31, 2014 (Dollars in thousands) **


Property Name	Interest Rate			Face Amount			Annual Debt Service (1)			Maturity Date
Consolidated Indebtedness:
Secured Indebtedness:
Arizona Mills		5.76	%	$	164,566		$	12,268			07/01/20
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	%		102,362	(10)		8,078			04/11/16
Calhoun Premium Outlets		5.79	%		19,683	(22)		1,519			09/01/16
Carolina Premium Outlets		3.36	%		48,448			2,675			12/01/22
Domain, The		5.44	%		198,454			14,085			08/01/21
Ellenton Premium Outlets		5.51	%		100,466	(21)		7,649			01/11/16
Empire Mall		5.79	%		176,300			10,215	(2)		06/01/16
Florida Keys Outlet Center		5.51	%		10,253	(21)		781			01/11/16
Gaffney Premium Outlets		5.79	%		35,721	(22)		2,757			09/01/16
Grand Prairie Premium Outlets		3.66	%		120,000			4,392	(2)		04/01/23
Greenwood Park Mall		8.00	%		75,733	(19)		7,044			08/01/16
Grove City Premium Outlets		5.51	%		108,453	(21)		8,258			01/11/16
Gulfport Premium Outlets		5.51	%		24,198	(21)		1,842			01/11/16
Gurnee Mills		5.77	%		321,000			18,512	(2)		07/01/17
Hagerstown Premium Outlets		5.95	%		86,045	(10)		6,787			04/11/16
Huntley Outlet Center		5.51	%		28,679	(21)		2,183			01/11/16
Independence Center		5.94	%		200,000			11,886	(2)		07/10/17
Ingram Park Mall		5.38	%		137,783			9,746			06/01/21
Jersey Shore Premium Outlets		5.51	%		67,306	(21)		5,124			01/11/16
King of Prussia — The Court & The Plaza — 1		7.49	%		44,457			23,183			01/01/17
King of Prussia — The Court & The Plaza — 2		8.53	%		3,204			1,685			01/01/17
King of Prussia — The Court & The Plaza — 3		4.50	%		50,000			2,250	(2)		01/01/17
Las Americas Premium Outlets		5.84	%		176,605			12,728			06/11/16
Lebanon Premium Outlets		5.51	%		14,877	(21)		1,133			01/11/16
Lee Premium Outlets		5.79	%		49,134	(22)		3,792			09/01/16
Mall at Chestnut Hill, The		4.69	%		120,000			5,624	(2)		11/01/23
Merrimack Premium Outlets		3.78	%		130,000			4,908	(2)		07/01/23
Midland Park Mall		4.35	%		81,860			5,078			09/06/22
Montgomery Mall		4.57	%		100,000			5,885			05/01/24
Naples Outlet Center		5.51	%		15,415	(21)		1,174			01/11/16
Opry Mills — 1		2.67	% (1)		280,000			7,480	(2)		10/10/16
Opry Mills — 2		5.00	%		91,427			4,571	(2)		10/10/16
Oxford Valley Mall		4.77	%		66,516			4,456			12/07/20
Penn Square Mall		7.75	%		93,998			8,597			04/01/16
Pismo Beach Premium Outlets		5.84	%		33,850	(20)		1,978	(2)		11/06/16
Plaza Carolina		1.52	% (1)		225,000			3,423	(2)		09/30/17	(3)
Pleasant Prairie Premium Outlets — 1		5.51	%		57,806	(21)		4,401			01/11/16
Pleasant Prairie Premium Outlets — 2		6.01	%		35,192			2,758			12/01/16
Potomac Mills		5.83	%		410,000			23,901	(2)		07/11/17
Puerto Rico Premium Outlets		1.52	% (1)		125,000			1,902	(2)		09/30/17	(3)
Queenstown Premium Outlets		5.84	%		66,150	(20)		3,864	(2)		11/06/16
San Marcos Premium Outlets		5.51	%		137,569	(21)		10,474			01/11/16
Shops at Riverside, The		3.37	%		130,000			4,382	(2)		02/01/23
Southdale Center		3.84	%		155,000			5,958	(2)		04/01/23
SouthPark		8.00	%		187,439	(19)		17,434			08/01/16
Southridge Mall		3.85	%		125,000			4,818	(2)		06/06/23
Summit Mall		5.42	%		65,000			3,526	(2)		06/10/17

** Mortgage and Unsecured Debt on Portfolio Properties As of December 31, 2014 (Dollars in thousands)**


Property Name	Interest Rate			Face Amount			Annual Debt Service (1)			Maturity Date
The Crossings Premium Outlets		3.41	%		115,000			3,926	(2)		12/01/22
Town Center at Cobb		4.76	%		198,095			12,530			05/01/22
Walt Whitman Shops		8.00	%		115,492	(19)		10,742			08/01/16
White Oaks Mall		5.54	%		50,000			2,768	(2)		11/01/16
Williamsburg Premium Outlets		5.95	%		99,406	(10)		7,841			04/11/16
Wolfchase Galleria		5.64	%		225,000			12,700	(2)		04/01/17
Woodland Hills Mall		7.79	%		91,686			8,414			04/05/19

Total Consolidated Secured Indebtedness				$	6,195,628
Unsecured Indebtedness:
Simon Property Group, LP:
Global Commercial Paper — USD Currency		0.19	%	$	200,000		$	380	(2)		02/11/15
Global Commercial Paper — Euro Currency		0.13	%		209,185	(18)		356	(2)		03/18/15
Revolving Credit Facility — Euro Currency		0.81	% (15)		372,154	(16)		3,004	(2)		06/30/19	(3)
Revolving Credit Facility — Yen Currency		0.88	% (15)		186,383	(23)		1,640	(2)		06/30/19	(3)
Unsecured Notes — 4C		7.38	%		200,000			14,750	(14)		06/15/18
Unsecured Notes — 12A		5.10	%		326,816			16,668	(14)		06/15/15
Unsecured Notes — 13B		5.75	%		366,635			21,082	(14)		12/01/15
Unsecured Notes — 14B		6.10	%		163,298			9,961	(14)		05/01/16
Unsecured Notes — 15B		5.88	%		207,453			12,188	(14)		03/01/17
Unsecured Notes — 16B		5.25	%		364,276			19,124	(14)		12/01/16
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 — 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
Unsecured Notes — Euro 1		2.38	%		912,143	(34)		21,663	(6)		10/02/20
Unsecured Notes — 27A		2.20	%		600,000			13,200	(14)		02/01/19
Unsecured Notes — 27B		3.75	%		600,000			22,500	(14)		02/01/24
Unsecured Notes — 28A		3.38	%		900,000			30,375	(14)		10/01/24
Unsecured Notes — 28B		4.25	%		400,000			17,000	(14)		10/01/44
Unsecured Term Loan		1.26	% (1)		240,000			3,024	(2)		02/28/18	(3)

Total Consolidated Unsecured Indebtedness				$	14,648,343

Total Consolidated Indebtedness at Face Amounts				$	20,843,971
Net Premium on Indebtedness					50,133
Net Discount on Indebtedness					(41,111	)

Total Consolidated Indebtedness				$	20,852,993



Our Share of Consolidated Indebtedness				$	20,773,850



Joint Venture Indebtedness:
Secured Indebtedness:
Ami Premium Outlets		1.82	% (12)		76,881	(26)		11,573			09/25/23
Ashford Designer Outlets — Fixed		4.27	% (11)		56,048	(32)		2,390	(2)		07/31/16

** Mortgage and Unsecured Debt on Portfolio Properties As of December 31, 2014 (Dollars in thousands)**


Property Name	Interest Rate			Face Amount			Annual Debt Service (1)			Maturity Date
Ashford Designer Outlets — Variable		2.42	% (1)		6,228	(32)		151	(2)		07/31/16
Arundel Mills		4.29	%		375,500	(35)		28,116			02/06/24
Arundel Mills Marketplace		4.29	%		9,500	(35)		884			02/06/24
Auburn Mall		6.02	%		39,755			3,027			09/01/20
Aventura Mall		3.75	%		1,200,000			45,002	(2)		12/01/20
Avenues, The		3.60	%		110,000			3,960	(2)		02/06/23
Briarwood Mall		7.50	%		109,680	(33)		10,641			11/30/16
Busan Premium Outlets — Fixed		5.44	%		73,678	(17)		4,009	(2)		06/20/22
Busan Premium Outlets — Variable		4.42	% (27)		51,584	(17)		2,278	(2)		02/13/17
California Department Stores		6.53	%		31,300			2,044	(2)		11/01/17
Cape Cod Mall		5.75	%		95,139			7,003			03/06/21
Charlotte Premium Outlets		1.62	% (1)		90,000			1,459	(2)		11/24/19	(3)
Circle Centre		3.07	% (24)		67,000			2,055	(2)		01/28/20	(3)
Coconut Point		5.83	%		230,000			13,409	(2)		12/10/16
Coddingtown Mall		1.92	% (1)		11,850			839			03/01/17	(3)
Colorado Mills — 1		4.28	%		136,000			5,824	(2)		11/01/24
Colorado Mills — 2		5.04	%		27,843			1,811			07/01/21
Concord Mills		3.84	%		235,000			9,015	(2)		11/01/22
Crystal Mall		4.46	%		94,272			5,749			06/06/22
Dadeland Mall		4.50	%		442,740			27,361			12/05/21
Del Amo Fashion Center		2.17	% (1)		310,000			6,731	(2)		01/17/18	(3)
Domain Westin		1.92	% (1)		45,000			865	(2)		08/30/18	(3)
Dover Mall		5.57	%		89,831			6,455			08/06/21
Emerald Square Mall		4.71	%		110,883			7,165			08/11/22
Falls, The		7.50	%		106,024	(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		4.30	%		466,385			28,208			01/04/21
Firewheel Residential		5.91	%		21,756			1,635			12/01/16	(3)
Firewheel Residential II		2.17	% (1)		24,000			521	(2)		11/14/18	(3)
Florida Mall, The		5.25	%		350,483			24,849			09/05/20
Gloucester Premium Outlets		1.67	% (1)		1,608			27	(2)		06/19/19	(3)
Grapevine Mills		3.83	%		268,000			15,157	(2)		10/01/24
Greendale Mall		6.00	%		45,000			2,699	(2)		10/01/16
Gotemba Premium Outlets		0.39	% (12)		15,382	(26)		6,207			02/28/18
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	%		8,924	(13)		637			(8	)
Indian River Mall		5.21	%		60,463	(13)		4,313			(8	)
Johor Premium Outlets		5.06	% (7)		21,443	(9)		6,678			10/14/20
Katy Mills		3.49	%		140,000			4,886	(2)		12/06/22
Kobe-Sanda Premium Outlets — Variable		0.47	% (12)		33,100	(26)		6,272			01/31/20
Lehigh Valley Mall		5.88	%		131,394			9,943			07/05/20
La Reggia Designer Outlets Phases 1 & 2		1.52	% (25)		75,411	(30)		6,602			03/31/27
Liberty Tree Mall		3.41	%		33,940			1,866			05/06/23
Mall at Rockingham Park, The		5.61	%		260,000			14,586	(2)		03/10/17
Mall at Tuttle Crossing, The		3.56	%		125,000			4,455	(2)		05/01/23
Mall of New Hampshire, The		6.23	%		124,989			10,079			10/05/15
Meadowood Mall		5.82	%		120,139			8,818			11/06/21
Miami International Mall		4.42	%		160,000			7,072	(2)		02/06/24
Northshore Mall		3.30	%		267,212			14,453			07/05/23

** Mortgage and Unsecured Debt on Portfolio Properties As of December 31, 2014 (Dollars in thousands)**


Property Name	Interest Rate			Face Amount			Annual Debt Service (1)			Maturity Date
Noventa Di Piave Designer Outlets Phase 1		1.12	% (25)		40,098	(30)		3,753			08/29/26
Noventa Di Piave Designer Outlets Phase 2 & 3		2.58	% (28)		42,911	(30)		3,608			06/30/27
Ontario Mills		4.25	%		333,152			20,661			03/05/22
Outlets at Orange, The		4.22	%		215,000			12,936	(2)		04/01/24
Paju Premium Outlets		4.08	%		98,968	(17)		4,040	(2)		11/28/19
Parndorf Designer Outlets Phases 3 & 4		2.21	% (28)		42,160	(30)		5,013			06/30/16
Phipps Plaza Residential		1.92	% (1)		101			2	(2)		10/16/19	(3)
Premium Outlets Montréal		2.60	% (4)		80,570	(5)		2,095	(2)		09/10/17	(3)
Quaker Bridge Mall — 1		7.03	%		12,273			2,407			04/01/16
Quaker Bridge Mall — 2		2.95	%		62,000			1,829	(2)		04/01/16
Rinku Premium Outlets — Variable		0.42	% (12)		13,394	(26)		1,962			07/31/17
Roermond Designer Outlets Phases 2 & 3 — Fixed		1.86	%		218,914	(30)		4,070	(2)		12/01/21
Sano Premium Outlets		0.48	% (12)		6,990	(26)		4,665			05/31/18
Sendai-Izumi Premium Outlets		0.44	% (12)		12,724	(26)		3,677			10/31/18
Shisui Premium Outlets		0.39	% (12)		39,847	(26)		5,494			05/31/18
Shops at Mission Viejo, The		3.61	%		295,000			10,650	(2)		02/01/23
Shops at Sunset Place, The		5.62	%		72,355			5,892			09/01/20
Silver Sands Premium Outlets		3.93	%		100,000			3,930	(2)		06/01/22
Smith Haven Mall		5.16	%		180,000			9,283	(2)		03/01/16
Solomon Pond Mall		4.01	%		105,847			6,309			11/01/22
Southdale Residential		1.82	% (1)		33,880			617	(2)		07/01/18	(3)
SouthPark Residential		4.80	%		22,000			1,056	(2)		05/01/21
Springfield Mall		4.77	% (11)		62,611			3,492			11/30/15
Square One Mall		5.47	%		96,077			6,793			01/06/22
Stoneridge Shopping Center		7.50	%		216,178	(33)		19,214			11/30/16
St. Johns Town Center		3.82	%		350,000			9,528	(2)		09/11/24
St. Louis Premium Outlets		4.06	%		95,000			3,858	(2)		10/06/24
Tanger Outlets — Galveston/Houston		1.67	% (1)		65,000			1,086	(2)		07/01/18	(3)
Toki Premium Outlets		0.94	% (12)		30,974	(26)		1,773			11/30/19
Toronto Premium Outlets		2.45	% (4)		83,069	(5)		2,035	(2)		07/09/15
Tosu Premium Outlets		0.45	% (12)		17,496	(26)		2,270			12/31/18
Twin Cities Premium Outlets		4.32	%		115,000			4,968	(2)		11/06/24
West Town Mall		6.34	%		210,000			13,309	(2)		12/01/17
Westchester, The		6.00	%		351,434			26,980			05/05/20
Woodfield Mall		4.50	%		425,000			19,125	(2)		03/05/24
Yeoju Premium Outlets		4.68	%		51,404	(17)		2,408	(2)		09/06/20

Total Joint Venture Secured Indebtedness at Face Value				$	12,538,792
The Mills Limited Partnership Indebtedness at Face Value				$	726,474	(29)

Total Joint Venture and The Mills Limited Partnership Indebtedness at Face Value				$	13,265,266
Net Premium on Indebtedness					7,291

Total Joint Venture Indebtedness				$	13,272,557



Our Share of Joint Venture Indebtedness				$	6,359,882	(31)

** Mortgage and Unsecured Debt on Portfolio Properties As of December 31, 2014 (Dollars in thousands)**

(1)

Variable rate loans based on 1M LIBOR plus interest rate spreads ranging from 80 bps to 250 bps. 1M LIBOR as of December 31, 2014 was 0.17%.

(2)

Requires monthly payment of interest only.

(3)

Includes applicable extension available at the Applicable Borrower's option.

(4)

Variable rate loans based on 1M CDOR plus interest rate spreads ranging from 115 bps to 130 bps. 1M CDOR at December 31, 2014 was 1.30%.

(5)

Amount shown in USD equivalent. CAD Equivalent is 189.9 million.

(6)

Requires annual payment of interest only.

(7)

Variable rate loans based on Cost of Fund plus interest rates spreads ranging from 150 bps to 175 bps. Cost of Fund as of December 31, 2014 was 3.54%.

(8)

Expected sale or transfer of the property during the first quarter of 2015.

(9)

Amount shown in USD Equivalent. Ringgit equivalent is 75.0 million.

(10)

Loans secured by these three properties are cross-collateralized and cross-defaulted.

(11)

Associated with these loans are interest rate swap agreements that effectively fix the interest rate of the loans at the all-in rate presented.

(12)

Variable rate loans based on 1M YEN LIBOR or 6M YEN LIBOR plus interest rate spreads ranging from 25.0 bps to 79.3 bps. As of December 31, 2014, 1M YEN LIBOR and 6M YEN LIBOR were 0.08% and 0.14%, respectively.

(13)

Loans secured by these two properties are cross-collateralized and cross-defaulted.

(14)

Requires semi-annual payments of interest only.

(15)

$4.0 Billion Revolving Credit Facility. As of December 31, 2014, the Credit Facility — Yen Currency bears interest at Yen LIBOR + 80 bps and the Credit Facility — Euro Currency bears interest at 1M EURO LIBOR + 80 bps. The facilities provide for different pricing based upon our investment grade rating. As of December 31, 2014, $5.0 billion was available after outstanding borrowings and letters of credit under our credit facilities.

(16)

Amount shown in USD Equivalent. Balances include borrowings on multi-currency tranche of Euro 306.0 million.

(17)

Amount shown in USD equivalent. Won Equivalent is 301.9 billion.

(18)

Amount shown in USD equivalent. Euro equivalent is 172.0 million.

(19)

Loans secured by these three properties are cross-collateralized and cross-defaulted.

(20)

Loans secured by these two properties are cross-collateralized and cross-defaulted.

(21)

Loans secured by these ten properties are cross-collateralized and cross-defaulted.

(22)

Loans secured by these three properties are cross-collateralized and cross-defaulted.

(23)

Amount shown in USD Equivalent. Balances include borrowings on multi-currency tranche of Yen 22.3 billion.

(24)

Variable rate loan based on 1M LIBOR plus an interest rate spread of 290 bps. In addition, 1M LIBOR is capped at 5.00%.

(25)

Variable rate loan based on 6M EURIBOR plus interest rate spreads ranging from 95 bps to 135 bps. 6M EURIBOR at December 31, 2014 was 0.17%.

(26)

Amount shown in USD Equivalent. Yen equivalent is 29.5 billion.

(27)

Variable rate loans based on 91 Day Korean CD rate plus interest rate spreads ranging from 200 bps to 290 bps. The 91 Day Korean CD rate as of December 31, 2014 was 2.13%.

(28)

Variable rate loan based on 3M EURIBOR plus interest rate spreads ranging from 200 bps to 250 bps. 3M EURIBOR at December 31, 2014 was 0.08%.

(29)

Consists of five properties with interest rates ranging from 4.50% to 7.32% and maturities between 2015 and 2023.

(30)

Amount shown in USD equivalent. Euro equivalent is 344.9 million.

** Mortgage and Unsecured Debt on Portfolio Properties As of December 31, 2014 (Dollars in thousands)**

(31)

Our share of total indebtedness includes a pro rata share of the mortgage debt on joint venture properties, including The Mills Limited Partnership. To the extent total indebtedness is secured by a property, it is non-recourse to us, with the exception of approximately $223.5 million of payment guarantees provided by the Operating Partnership (of which $78.7 million is recoverable from our venture partner under the partnership agreement).

(32)

Amount shown in USD equivalent. GBP equivalent is 40.0 million.

(33)

Loans secured by these three properties are cross-collateralized and cross-defaulted.

(34)

Amount shown in USD equivalent. Euro equivalent is 750.0 million.

(35)

Loans secured by these two properties are cross-collateralized and cross-defaulted.

The changes in consolidated mortgages and unsecured indebtedness for the years ended December 31, 2014, 2013, 2012 are as follows:


	2014			2013			2012
Balance, Beginning of Year	$	22,669,917		$	22,186,848		$	17,431,588
Additions during period:
New Loan Originations (a)		2,273,014			1,988,710			4,815,345
Loans assumed in acquisitions and consolidation		166,950			—			2,576,407
Net Premium		8,747			(3,273	)		70,495
Deductions during period:
Loan Retirements		(4,164,574	)		(1,400,562	)		(2,610,878	)
Amortization of Net Premiums		(24,092	)		(33,026	)		(32,143	)
Scheduled Principal Amortization		(76,969	)		(68,780	)		(63,966	)

Balance, Close of Year	$	20,852,993		$	22,669,917		$	22,186,848

(a)

Includes net activity on the credit facilities and commercial paper

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