Item 16. Form 10-K Summary

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Item 16. Form 10-K Summary

None.

EXHI****BIT INDEX


Exhibits
2.1		Separation and Distribution Agreement by and among Simon Property Group, Inc., Simon Property Group, L.P., Washington Prime Group Inc. and Washington Prime Group, L.P., dated as of May 27, 2014 (incorporated by reference to Exhibit 2.1 of the Registrant’s Current Report on Form 8-K filed May 29, 2014).

2.2		Amended and Restated Agreement and Plan of Merger, dated as of November 14, 2020, by and among the Taubman Parties and the Simon Parties (incorporated by reference to exhibit 2.1 of Simon Property Group Inc.’s and Simon Property Group L.P.’s Current Report on Form 8-K filed on November 16, 2020).

3.1		Restated Certificate of Incorporation of Simon Property Group, Inc. (incorporated by reference to Appendix A of Simon Property Group, Inc.’s Proxy Statement on Schedule 14A filed March 27, 2009).

3.2		Amended and Restated By-Laws of Simon Property Group, Inc. as adopted on March 20, 2017 (incorporated by reference to Exhibit 3.1 of Simon Property Group, Inc.’s Current Report on Form 8-K filed March 24, 2017).

3.3		Certificate of Powers, Designations, Preferences and Rights of the 83/8% Series J Cumulative Redeemable Preferred Stock, $0.0001 Par Value (incorporated by reference to Exhibit 3.2 of Simon Property Group, Inc.’s Current Report on Form 8-K filed October 20, 2004).

3.4		Certificate of Designation of Series A Junior Participating Redeemable Preferred Stock (incorporated by reference to Exhibit 3.1 of Simon Property Group, Inc.’s Current Report on Form 8-K filed May 15, 2014).

3.5		Second Amended and Restated Certificate of Limited Partnership of the Limited Partnership (incorporated by reference to Exhibit 3.1 of Simon Property Group, L.P.'s Annual Report on Form 10-K filed March 31, 2003).

3.6		Eighth Amended and Restated Limited Partnership Agreement of Simon Property Group, L.P. dated as of May 8, 2008 (incorporated by reference to Exhibit 10.1 of Simon Property Group, Inc.’s Current Report on Form 8-K filed May 9, 2008).

3.7		Certificate of Designation of Series B Junior Participating Redeemable Preferred Units of Simon Property Group, L.P. (incorporated by reference to Exhibit 3.1 of Simon Property Group, L.P.'s Quarterly Report on Form 10- Q filed August 8, 2014).

3.8		Agreement between Simon Property Group, Inc. and Simon Property Group, L.P. dated March 7, 2007, but effective as of August 27, 1999, regarding a prior agreement filed under an exhibit 99.1 to Form S-3/A of Simon Property Group, L.P. on November 20, 1996 (incorporated by reference to Exhibit 3.4 of Simon Property Group, L.P.'s Annual Report on Form 10-K filed March 16, 2007).

3.9		Agreement between Simon Property Group, Inc. and Simon Property Group, L.P. dated April 29, 2009, but effective as of October 14, 2004, regarding redemption of the Registrant's Series I Preferred Units (incorporated by reference to Exhibit 3.2 of Simon Property Group, L.P.'s Quarterly Report on Form 10-Q filed May 8, 2009).

4.1	(a)	Indenture, dated as of November 26, 1996, by and among Simon Property Group, L.P. and The Chase Manhattan Bank, as trustee (incorporated by reference to Exhibit 4.1 of Simon Property Group, L.P.'s Registration Statement on Form S-3 filed October 21, 1996 (Reg. No. 333-11491)).

4.2		Description of Each Registrant’s Securities Registered Pursuant to Section 12 of the Securities Exchange Act of 1934.

9.1		Second Amended and Restated Voting Trust Agreement, Voting Agreement and Proxy dated as of March 1, 2004 between Melvin Simon & Associates, Inc., on the one hand and Melvin Simon, Herbert Simon and David Simon on the other hand (incorporated by reference to Exhibit 9.1 of Simon Property Group, Inc.’s Quarterly Report on Form 10-Q filed May 10, 2004).

9.2		Voting Trust Agreement, Voting Agreement and Proxy dated as of March 1, 2004 between David Simon, Melvin Simon and Herbert Simon (incorporated by reference to Exhibit 9.2 of Simon Property Group, Inc.’s Quarterly Report on Form 10-Q filed May 10, 2004).


Exhibits
10.1			Form of the Indemnity Agreement between Simon Property Group, Inc. and its directors and officers (incorporated by reference to Exhibit 10.7 of Simon Property Group, Inc.’s Form S-4 filed August 13, 1998 (Reg. No. 333-61399)).

10.2			Registration Rights Agreement, dated as of September 24, 1998, by and among Simon Property Group, Inc. and the persons named therein (incorporated by reference to Exhibit 4.4 of Simon Property Group, Inc.’s Current Report on Form 8-K filed October 9, 1998).

10.3			Registration Rights Agreement, dated as of August 27, 1999, by and among Simon Property Group, Inc. and the persons named therein (incorporated by reference to Exhibit 4.4 of the Registration Statement on Form S-3 filed March 24, 2004 (Reg. No. 333-113884)).

10.4			Registration Rights Agreement, dated as of November 14, 1997, by and between O’Connor Retail Partners, L.P. and Simon DeBartolo Group, Inc. (incorporated by reference to Exhibit 4.8 of the Registration Statement on Form S-3 filed December 7, 2001 (Reg. No. 333-74722)).

10.5*			Simon Property Group, L.P. Amended and Restated 1998 Stock Incentive Plan (incorporated by reference to Exhibit 10.1 of Simon Property Group, Inc.’s Current Report on Form 8-K filed April 10, 2014).

10.6*			Form of Nonqualified Stock Option Award Agreement under the Simon Property Group, L.P. 1998 Stock Incentive Plan (incorporated by reference to Exhibit 10.8 of Simon Property Group, Inc.’s Annual Report on Form 10-K filed March 16, 2005).

10.7*			Form of Performance-Based Restricted Stock Award Agreement under the Simon Property Group, L.P. 1998 Stock Incentive Plan (incorporated by reference to Exhibit 10.9 of Simon Property Group, Inc.’s Annual Report on Form 10-K filed February 28, 2007).

10.8*			Form of Non-Employee Director Restricted Stock Award Agreement under the Simon Property Group, L.P. 1998 Stock Incentive Plan (incorporated by reference to Exhibit 10.10 of Simon Property Group, Inc.’s Annual Report on Form 10-K filed March 16, 2005).

10.9*			Employment Agreement between Simon Property Group, Inc. and David Simon effective as of July 6, 2011 (incorporated by reference to Exhibit 10.2 of Simon Property Group, Inc.’s Current Report on Form 8-K filed July 7, 2011).

10.10*			First Amendment to Employment Agreement between Simon Property Group, Inc. and David Simon, dated as of March 29, 2013 (incorporated by reference to Exhibit 10.1 of Simon Property Group, Inc.’s Current Report on Form 8-K filed April 4, 2013).

10.11*			Non-Qualified Deferred Compensation Plan dated as of December 31, 2008 (incorporated by reference to Exhibit 10.1 of Simon Property Group, Inc.’s Quarterly Report on Form 10-Q filed November 5, 2009).

10.12*			Amendment — 2008 Performance Based-Restricted Stock Agreement dated as of March 6, 2009 (incorporated by reference to Exhibit 10.2 of Simon Property Group, Inc.’s Quarterly Report on Form 10-Q filed November 5, 2009).

10.13*			Certificate of Designation of Series 2010 LTIP Units of Simon Property Group, L.P. (incorporated by reference to Exhibit 10.4 of Simon Property Group, Inc.'s Current Report on Form 8-K filed March 19, 2010).

10.14*			Form of Series 2010 LTIP Unit (Three Year Program) Award Agreement under the Simon Property Group, L.P. 1998 Stock Incentive Plan (incorporated by reference to Exhibit 10.1 of Simon Property Group, Inc.’s Current Report on Form 8-K filed March 19, 2010).

10.15*			Form of Series 2010 LTIP Unit (Two Year Program) Award Agreement under the Simon Property Group, L.P. 1998 Stock Incentive Plan (incorporated by reference to Exhibit 10.2 of Simon Property Group, Inc.’s Current Report on Form 8-K filed March 19, 2010).

10.16*			Form of Series 2010 LTIP Unit (One Year Program) Award Agreement under the Simon Property Group, L.P. 1998 Stock Incentive Plan (incorporated by reference to Exhibit 10.3 of Simon Property Group, Inc.’s Current Report on Form 8-K filed March 19, 2010).


Exhibits
10.17*			Certificate of Designation of Series CEO LTIP Units of Simon Property Group, L.P. (incorporated by reference to Exhibit 10.3 of Simon Property Group, Inc.'s Current Report on Form 8-K filed July 7, 2011).

10.18*			Simon Property Group Series CEO LTIP Unit Award Agreement (incorporated by reference to Exhibit 10.4 of Simon Property Group, Inc.’s Current Report on Form 8-K filed July 7, 2011).

10.19*			First Amendment to Simon Property Group Series CEO LTIP Unit Award Agreement dated as of December 22, 2011 (incorporated by reference to Exhibit 10.24 of Simon Property Group, Inc.’s Annual Report on Form 10-K filed February 28, 2012).

10.20*			Second Amendment to Simon Property Group Series CEO LTIP Unit Award Agreement, dated as of March 29, 2013 (incorporated by reference to Exhibit 10.2 of Simon Property Group, Inc.’s Current Report on Form 8-K filed April 4, 2013).

10.21*			Simon Property Group Amended and Restated Series CEO LTIP Unit Award Agreement, dated as of December 31, 2013 (incorporated by reference to Exhibit 10.1 of Simon Property Group, Inc.’s Current Report on Form 8-K filed January 2, 2014).

10.22*			Certificate of Designation of Series 2011 LTIP Units of Simon Property Group, L.P. (incorporated by reference to Exhibit 10.5 of Simon Property Group, Inc.'s Current Report on Form 8-K filed July 7, 2011).

10.23*			Form of Simon Property Group Series 2011 LTIP Unit Award Agreement (incorporated by reference to Exhibit 10.6 of Simon Property Group, Inc.’s Current Report on Form 8-K filed July 7, 2011).

10.24*			Certificate of Designation of Series 2012 LTIP Units of Simon Property Group, L.P. (incorporated by reference to Exhibit 10.2 of Simon Property Group, L.P.'s Quarterly Report on Form 10-Q filed May 11, 2012).

10.25*			Amended and Restated Certificate of Designation of Series 2012 LTIP Units of Simon Property Group, L.P. (incorporated by reference to Exhibit 10.5 of Simon Property Group, L.P.'s Quarterly Report on Form 10-Q filed May 7, 2014).

10.26*			Form of Simon Property Group Series 2012 LTIP Unit Award Agreement (incorporated by reference to Exhibit 10.1 of Simon Property Group, Inc.’s Quarterly Report on Form 10-Q filed May 8, 2012).

10.27*			Simon Property Group Amended and Restated Series 2012 LTIP Unit Award Agreement (incorporated by reference to Exhibit 10.1 of Simon Property Group, Inc.’s Current Report on Form 8-K filed April 28, 2014).

10.28*			Certificate of Designation of Series 2013 LTIP Units of Simon Property Group, L.P. (incorporated by reference to Exhibit 10.2 of Simon Property Group, L.P.'s Quarterly Report on Form 10-Q filed May 10, 2013).

10.29*			Form of Simon Property Group Series 2013 LTIP Unit Award Agreement (incorporated by reference to Exhibit 10.3 of Simon Property Group, Inc.’s Current Report on Form 8-K filed April 4, 2013).

10.30*			Form of Simon Property Group Executive Officer LTIP Waiver, dated April 18, 2014 (incorporated by reference to Exhibit 10.2 of Simon Property Group, Inc.’s Current Report on Form 8-K filed April 28, 2014).

10.31*			Simon Property Group CEO LTIP Unit Adjustment Waiver, dated April 18, 2014 (incorporated by reference to Exhibit 10.3 of Simon Property Group, Inc.’s Current Report on Form 8-K filed April 28, 2014).

10.32*			Form of Simon Property Group Series 2014 LTIP Unit Award Agreement (incorporated by reference to Exhibit 10.2 of Simon Property Group, Inc.’s Quarterly Report on Form 10-Q filed May 7, 2014).

10.33*			Certificate of Designation of Series 2014 LTIP Units of Simon Property Group, L.P. (incorporated by reference to Exhibit 10.3 of Simon Property Group, L.P.'s Quarterly Report on Form 10-Q filed May 7, 2014).

10.34			Amended and Restated $2,750,000,000 Credit Agreement dated as of March 2, 2015 (incorporated by reference to Exhibit 10.1 of Simon Property Group, L.P.’s Current Report on Form 8-K filed March 3, 2015).


Exhibits
10.35*			Form of Simon Property Group Series 2015 LTIP Unit Award Agreement (incorporated by reference to Exhibit 10.3 of Simon Property Group, Inc.’s Quarterly Report on Form 10-Q/A for the quarter ended March 31, 2015 filed on January 13, 2016).

10.36*			Certificate of Designation of Series 2015 LTIP Units of Simon Property Group, L.P. (incorporated by reference to Exhibit 10.4 of Simon Property Group, L.P.'s Quarterly Report on Form 10-Q/A for the quarter ended March 31, 2015 filed on January 13, 2016).

10.37*			Form of Simon Property Group Series 2016 LTIP Unit Award Agreement (incorporated by reference to Exhibit 10.1 of Simon Property Group, Inc.’s and Simon Property Group, L.P.’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2016 filed on May 5, 2016).

10.38*			Form of Certificate of Designation of Series 2016 LTIP Units of Simon Property Group, L.P. (incorporated by reference to Exhibit 10.2 of Simon Property Group, Inc.’s and Simon Property Group, L.P.’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2016 filed on May 5, 2016).

10.39			Amendment No. 1 to Amended and Restated Credit Agreement, dated as of April 6, 2016 (incorporated by reference to Exhibit 10.1 of Simon Property Group, L.P.’s Current Report on Form 8-K filed April 7, 2016).

10.40			Amended and Restated $4,000,000,000 Credit Agreement, dated as of March 17, 2017 (incorporated by reference to Exhibit 99.2 of Simon Property Group, L.P.’s Current Report on Form 8-K filed March 20, 2017).

10.41			Amended and Restated $3,500,000,000 Credit Agreement, dated as of February 15, 2018 (incorporated by reference to Exhibit 99.2 of Simon Property Group, L.P.’s Current Report on Form 8-K filed February 15, 2018).

10.42*			Form of Simon Property Group Series 2018 LTIP Unit Award Agreement (incorporated by reference to Exhibit 10.1 of Simon Property Group, Inc.’s and Simon Property Group, L.P.’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2018 filed on May 3, 2018).

10.43*			Form of Certificate of Designation of Series 2018 LTIP Units of Simon Property Group, L.P. (incorporated by reference to Exhibit 10.2 of Simon Property Group, Inc.’s and Simon Property Group, L.P.’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2018 filed on May 3, 2018).

10.44*			Simon Property Group, L.P. 2019 Stock Incentive Plan (incorporated by reference to Exhibit 10.1 of Simon Property Group, Inc.’s Current Report on Form 8-K filed May 8, 2019).

10.45*			Form of Simon Property Group Series 2019 LTIP Unit Award Agreement (incorporated by reference to Exhibit 10.2 of Simon Property Group, Inc.’s and Simon Property Group, L.P.’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2019 filed on August 7, 2019).

10.46*			Form of Certificate of Designation of Series 2019 LTIP Units of Simon Property Group, L.P. (incorporated by reference to Exhibit 10.3 of Simon Property Group, Inc.’s and Simon Property Group, L.P.’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2019 filed on August 7, 2019).

10.47			Second Amended and Restated $6,000,000,000 Credit Agreement, dated as of March 16, 2020 (incorporated by reference to Exhibit 99.2 of Simon Property Group Inc.’s and Simon Property Group, L.P.’s Current Report on Form 8-K filed March 16, 2020).

10.48*			Form of Restricted Stock Unit Agreement under Simon Property Group, L.P. 2019 Stock Incentive Plan (incorporated by reference to Exhibit 10.48 of Simon Property Group, Inc.’s Annual Report on Form 10-K filed February 25, 2021).

10.49*			Form of Simon Property Group Series 2021 LTIP Unit Award Agreement (incorporated by reference to Exhibit 10.1 of Simon Property Group, Inc.’s and Simon Property Group, L.P.’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2021 filed on May 10, 2021).

10.50*			Form of Certificate of Designation of Series 2021 LTIP Units of Simon Property Group, L.P. (incorporated by reference to Exhibit 10.2 of Simon Property Group, Inc.’s and Simon Property Group, L.P.’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2021 filed on May 10, 2021).


Exhibits

10.51			Second Amended and Restated $3,500,000,000 Credit Agreement dated as of October 26, 2021 (incorporated by reference to Exhibit 99.2 of Simon Property Group, L.P.’s Current Report on Form 8-K filed October 28, 2021).

10.52			Amendment No. 1 to Second Amended and Restated $6,000,000,000 Credit Agreement, dated as of November 4, 2021 (incorporated by reference to Exhibit 10.52 of Simon Property Group, Inc.’s and Simon Property Group L.P.’s Annual Report on Form 10-K filed February 24, 2022).

10.53*			Simon Property Group, Inc., 2022 Incentive Compensation Plan (incorporated by reference to Exhibit 10.1 of Simon Property Group, Inc.’s and Simon Property Group, L.P.’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2022 filed on May 9, 2022).

10.54*			Form of Simon Property Group Series 2022 LTIP Unit Award Agreement (incorporated by reference to Exhibit 10.2 of Simon Property Group, Inc.’s and Simon Property Group, L.P.’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2022 filed on May 9, 2022).

10.55*			Form of Certificate of Designation of Series 2022 LTIP Units of Simon Property Group, L.P. (incorporated by reference to Exhibit 10.3 of Simon Property Group, Inc.’s and Simon Property Group, L.P.’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2022 filed on May 9, 2022).

10.56*			Form of Restricted Stock Unit Award Agreement (incorporated by reference to Exhibit 10.4 of Simon Property Group, Inc.’s and Simon Property Group, L.P.’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2022 filed on May 9, 2022).

21.1			List of Subsidiaries of Simon Property Group Inc. and Simon Property Group, L.P.

23.1			Simon Property Group, Inc. — Consent of Ernst & Young LLP.

23.2			Simon Property Group, L.P. — Consent of Ernst & Young LLP.

31.1			Simon Property Group, Inc. — Certification by the Chief Executive Officer pursuant to Rule 13a-14(a) of the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

31.2			Simon Property Group, Inc. — Certification by the Chief Financial Officer pursuant to Rule 13a-14(a) of the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

31.3			Simon Property Group, L.P. — Certification by the Chief Executive Officer pursuant to Rule 13a-14(a) of the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

31.4			Simon Property Group, L.P. — Certification by the Chief Financial Officer pursuant to Rule 13a-14(a) of the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

32.1			Simon Property Group, Inc. — Certification by the Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

32.2			Simon Property Group, L.P. — Certification by the Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

101.INS			XBRL Instance Document – the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.

101.SCH			Inline XBRL Taxonomy Extension Schema Document

101.CAL			Inline XBRL Taxonomy Extension Calculation Linkbase Document

101.LAB			Inline XBRL Taxonomy Extension Label Linkbase Document

101.PRE			Inline XBRL Taxonomy Extension Presentation Linkbase Document


Exhibits
101.DEF			Inline XBRL Taxonomy Extension Definition Linkbase Document

104			Cover Page Interactive File (formatted as Inline XBRL and contained in Exhibit 101)

(a) Does not include supplemental indentures that authorize the issuance of debt securities series, none of which exceeds 10% of the total assets of Simon Property Group, L.P. on a consolidated basis. Simon Property Group, L.P. agrees to file copies of any such supplemental indentures upon the request of the Commission.

Represents a management contract, or compensatory plan, contract or arrangement required to be filed pursuant to Regulation S-K.

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, each Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


	SIMON PROPERTY GROUP, INC.

	By	/s/ DAVID SIMON
		David Simon
		Chairman of the Board of Directors, Chief
		Executive Officer and President
		Date: February 23, 2023

		SIMON PROPERTY GROUP, L.P.

		/s/ DAVID SIMON
		David Simon
		Chairman of the Board of Directors, Chief Executive Officer and President of Simon Property Group, Inc., General Partner
		Date: February 23, 2023

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of Simon Property Group, Inc., for itself and in its capacity as General Partner of Simon Property Group, L.P., and in the capacities and on the dates indicated.

Signature	Capacity	Date

/s/ DAVID SIMON	Chairman of the Board of Directors, Chief Executive Officer (Principal Executive Officer) and President	February 23, 2023
David Simon

/s/ HERBERT SIMON	Chairman Emeritus and Director	February 23, 2023
Herbert Simon

/s/ RICHARD S. SOKOLOV	Vice Chairman and Director	February 23, 2023
Richard S. Sokolov

/s/ LARRY C. GLASSCOCK	Director	February 23, 2023
Larry C. Glasscock

/s/ REUBEN S. LEIBOWITZ	Director	February 23, 2023
Reuben S. Leibowitz

/s/ J. ALBERT SMITH, JR.	Director	February 23, 2023
J. Albert Smith, Jr.

/s/ KAREN N. HORN	Director	February 23, 2023
Karen N. Horn

/s/ ALLAN HUBBARD	Director	February 23, 2023
Allan Hubbard

/s/ DANIEL C. SMITH	Director	February 23, 2023
Daniel C. Smith

Signature	Capacity	Date

/s/ GARY M. RODKIN	Director	February 23, 2023
Gary M. Rodkin

/s/ GLYN F. AEPPEL	Director	February 23, 2023
Glyn F. Aeppel

/s/ STEFAN M. SELIG	Director	February 23, 2023
Stefan M. Selig

/s/ MARTA R. STEWART	Director	February 23, 2023
Marta R. Stewart

/s/ PEGGY F. ROE	Director	February 23, 2023
Peggy F. Roe
/s/ BRIAN J. MCDADE	Executive Vice President and Chief Financial Officer (Principal Financial Officer)	February 23, 2023
Brian J. McDade

/s/ ADAM J. REUILLE	Senior Vice President and Chief Accounting Officer (Principal Accounting Officer)	February 23, 2023
Adam J. Reuille

SCHEDULE III

Simon Property Group, Inc.

Simon Property Group, L.P.

Real Estate and Accumulated Depreciation

December 31, 2022

(Dollars in thousands)


								Cost Capitalized
								Subsequent to				Gross Amounts At Which								Date of
				Initial Cost (3)				Acquisition (3)				Carried At Close of Period								Construction
						Buildings and				Buildings and				Buildings and				Accumulated		or
Name	Location	Encumbrances (6)		Land		Improvements		Land		Improvements		Land		Improvements		Total (1)		Depreciation (2)		Acquisition
Malls
Barton Creek Square	Austin, TX	$	—	$	2,903	$	20,929	$	7,983	$	99,476	$	10,886	$	120,405	$	131,291	$	71,152	1981
Battlefield Mall	Springfield, MO		—		3,919		27,231		3,000		74,037		6,919		101,268		108,187		76,934	1970
Bay Park Square	Green Bay, WI		—		6,278		25,623		4,106		30,618		10,384		56,241		66,625		35,700	1980
Brea Mall	Brea (Los Angeles), CA		—		39,500		209,202		2,993		85,111		42,493		294,313		336,806		173,612	1998	(4)
Broadway Square	Tyler, TX		—		11,306		32,431		—		52,306		11,306		84,737		96,043		45,488	1994	(4)
Burlington Mall	Burlington (Boston), MA		—		46,600		303,618		27,458		264,439		74,058		568,057		642,115		279,954	1998	(4)
Castleton Square	Indianapolis, IN		—		26,250		98,287		7,434		79,280		33,684		177,567		211,251		130,761	1972
Cielo Vista Mall	El Paso, TX		—		1,005		15,262		608		58,850		1,613		74,112		75,725		53,194	1974
College Mall	Bloomington, IN		—		1,003		16,245		720		70,259		1,723		86,504		88,227		52,189	1965
Columbia Center	Kennewick, WA		—		17,441		66,580		—		46,061		17,441		112,641		130,082		70,410	1987
Copley Place	Boston, MA		—		—		378,045		—		199,240		—		577,285		577,285		290,117	2002	(4)
Coral Square	Coral Springs (Miami), FL		—		12,282		93,630		—		20,939		12,282		114,569		126,851		92,780	1984
Cordova Mall	Pensacola, FL		—		18,626		73,091		7,321		72,858		25,947		145,949		171,896		89,398	1998	(4)
Domain, The	Austin, TX		210,000		40,436		197,010		—		158,512		40,436		355,522		395,958		198,288	2005
Empire Mall	Sioux Falls, SD		176,974		35,998		192,186		—		34,503		35,998		226,689		262,687		83,868	1998	(5)
Fashion Mall at Keystone, The	Indianapolis, IN		—		—		120,579		29,145		119,620		29,145		240,199		269,344		147,069	1997	(4)
Firewheel Town Center	Garland (Dallas), TX		—		8,438		82,716		—		31,697		8,438		114,413		122,851		70,476	2004
Forum Shops at Caesars, The	Las Vegas, NV		—		—		276,567		—		298,134		—		574,701		574,701		328,535	1992
Greenwood Park Mall	Greenwood (Indianapolis), IN		—		2,423		23,445		5,253		125,190		7,676		148,635		156,311		98,393	1979
Haywood Mall	Greenville, SC		—		11,585		133,893		6		47,688		11,591		181,581		193,172		122,689	1998	(4)
King of Prussia	King of Prussia (Philadelphia), PA		—		175,063		1,128,236		—		425,373		175,063		1,553,609		1,728,672		569,204	2003	(5)
La Plaza Mall	McAllen, TX		—		87,912		9,828		6,569		187,169		94,481		196,997		291,478		62,054	1976
Lakeline Mall	Cedar Park (Austin), TX		—		10,088		81,568		14		24,070		10,102		105,638		115,740		69,976	1995
Lenox Square	Atlanta, GA		—		37,447		492,411		—		151,495		37,447		643,906		681,353		409,736	1998	(4)
Mall of Georgia	Buford (Atlanta), GA		—		47,492		326,633		—		14,648		47,492		341,281		388,773		218,406	1999	(5)
McCain Mall	N. Little Rock, AR		—		—		9,515		10,142		29,293		10,142		38,808		48,950		19,990	1973
Menlo Park Mall	Edison (New York), NJ		—		65,684		223,252		—		92,628		65,684		315,880		381,564		207,511	1997	(4)
Midland Park Mall	Midland, TX		—		687		9,213		1,196		42,929		1,883		52,142		54,025		24,232	1980
Miller Hill Mall	Duluth, MN		—		2,965		18,092		1,811		43,580		4,776		61,672		66,448		48,055	1973
North East Mall	Hurst (Dallas), TX		—		128		12,966		19,010		129,458		19,138		142,424		161,562		108,694	1971
Ocean County Mall	Toms River (New York), NJ		—		20,404		124,945		3,277		88,119		23,681		213,064		236,745		115,269	1998	(4)
Orland Square	Orland Park (Chicago), IL		—		35,439		129,906		—		81,221		35,439		211,127		246,566		130,503	1997	(4)
Oxford Valley Mall	Langhorne (Philadelphia), PA		23,109		18,355		100,287		—		19,706		18,355		119,993		138,348		89,269	2003	(4)
Penn Square Mall	Oklahoma City, OK		310,000		2,043		155,958		—		63,163		2,043		219,121		221,164		149,853	2002	(4)

Simon Property Group, Inc.

Simon Property Group, L.P.

Real Estate and Accumulated Depreciation

December 31, 2022

(Dollars in thousands)


								Cost Capitalized
								Subsequent to				Gross Amounts At Which								Date of
				Initial Cost (3)				Acquisition (3)				Carried At Close of Period								Construction
						Buildings and				Buildings and				Buildings and				Accumulated		or
Name	Location	Encumbrances (6)		Land		Improvements		Land		Improvements		Land		Improvements		Total (1)		Depreciation (2)		Acquisition
Pheasant Lane Mall	Nashua, NH	$	—	$	3,902	$	155,068	$	550	$	51,969	$	4,452	$	207,037	$	211,489	$	128,851	2004	(5)
Phipps Plaza	Atlanta, GA		—		15,005		210,610		—		266,743		15,005		477,353		492,358		190,110	1998	(4)
Plaza Carolina	Carolina (San Juan), PR		225,000		15,493		279,560		—		81,174		15,493		360,734		376,227		193,404	2004	(4)
Prien Lake Mall	Lake Charles, LA		—		1,842		2,813		3,053		69,272		4,895		72,085		76,980		31,107	1972
Rockaway Townsquare	Rockaway (New York), NJ		—		41,918		212,257		—		73,502		41,918		285,759		327,677		176,651	1998	(4)
Roosevelt Field	Garden City (New York), NY		—		163,160		702,008		1,246		379,764		164,406		1,081,772		1,246,178		601,111	1998	(4)
Ross Park Mall	Pittsburgh, PA		—		23,541		90,203		5,815		132,564		29,356		222,767		252,123		143,279	1986
Santa Rosa Plaza	Santa Rosa, CA		—		10,400		87,864		—		27,609		10,400		115,473		125,873		73,545	1998	(4)
Shops at Chestnut Hill, The	Chestnut Hill (Boston), MA		120,000		449		25,102		38,864		106,476		39,313		131,578		170,891		52,332	2002	(5)
Shops at Nanuet, The	Nanuet, NY		—		28,125		142,860		—		8,213		28,125		151,073		179,198		52,197	2013
Shops at Riverside, The	Hackensack (New York), NJ		—		13,521		238,746		—		266,760		13,521		505,506		519,027		137,209	2007	(4) (5)
South Hills Village	Pittsburgh, PA		—		23,445		125,840		1,472		91,381		24,917		217,221		242,138		121,075	1997	(4)
South Shore Plaza	Braintree (Boston), MA		—		101,200		301,495		1,972		165,796		103,172		467,291		570,463		295,152	1998	(4)
Southdale Mall	Edina (Minneapolis), MN		—		41,430		184,967		—		84,587		41,430		269,554		310,984		84,297	2007	(4) (5)
SouthPark	Charlotte, NC		—		42,092		188,055		100		220,434		42,192		408,489		450,681		248,104	2002	(4)
St. Charles Towne Center	Waldorf (Washington, DC), MD		—		7,710		52,934		1,180		27,436		8,890		80,370		89,260		64,589	1990
Stanford Shopping Center	Palo Alto (San Jose), CA		—		—		339,537		—		209,906		—		549,443		549,443		246,596	2003	(4)
Summit Mall	Akron, OH		85,000		15,374		51,137		—		55,830		15,374		106,967		122,341		71,924	1965
Tacoma Mall	Tacoma (Seattle), WA		—		37,113		125,826		—		178,479		37,113		304,305		341,418		164,784	1987
Tippecanoe Mall	Lafayette, IN		—		2,897		8,439		5,517		49,477		8,414		57,916		66,330		46,026	1973
Town Center at Boca Raton	Boca Raton (Miami), FL		—		64,200		307,317		—		256,935		64,200		564,252		628,452		341,902	1998	(4)
Towne East Square	Wichita, KS		—		8,024		18,479		4,108		60,066		12,132		78,545		90,677		48,830	1975
Treasure Coast Square	Jensen Beach, FL		—		10,750		72,990		3,067		27,229		13,817		100,219		114,036		69,695	1987
Tyrone Square	St. Petersburg (Tampa), FL		—		15,638		120,962		1,459		50,657		17,097		171,619		188,716		122,388	1972
University Park Mall	Mishawaka, IN		—		10,762		118,164		7,000		58,825		17,762		176,989		194,751		150,567	1996	(4)
Walt Whitman Shops	Huntington Station (New York), NY		—		51,700		111,258		3,789		138,245		55,489		249,503		304,992		145,033	1998	(4)
White Oaks Mall	Springfield, IL		40,191		2,907		35,692		2,468		68,119		5,375		103,811		109,186		64,640	1977
Wolfchase Galleria	Memphis, TN		155,152		16,407		128,276		—		17,550		16,407		145,826		162,233		106,449	2002	(4)
Woodland Hills Mall	Tulsa, OK		—		34,211		187,123		13,811		46,363		48,022		233,486		281,508		160,791	2004	(5)

Premium Outlets
Albertville Premium Outlets	Albertville (Minneapolis), MN		—		3,900		97,059		—		9,653		3,900		106,712		110,612		58,945	2004	(4)

Simon Property Group, Inc.

Simon Property Group, L.P.

Real Estate and Accumulated Depreciation

December 31, 2022

(Dollars in thousands)


								Cost Capitalized
								Subsequent to				Gross Amounts At Which								Date of
				Initial Cost (3)				Acquisition (3)				Carried At Close of Period								Construction
						Buildings and				Buildings and				Buildings and				Accumulated		or
Name	Location	Encumbrances (6)		Land		Improvements		Land		Improvements		Land		Improvements		Total (1)		Depreciation (2)		Acquisition
Allen Premium Outlets	Allen (Dallas), TX	$	—	$	20,932	$	69,788	$	—	$	44,310	$	20,932	$	114,098	$	135,030	$	43,412	2004	(4)
Aurora Farms Premium Outlets	Aurora (Cleveland), OH		—		2,370		24,326		—		9,363		2,370		33,689		36,059		26,001	2004	(4)
Birch Run Premium Outlets	Birch Run (Detroit), MI		123,000		11,477		77,856		—		8,785		11,477		86,641		98,118		42,560	2010	(4)
Camarillo Premium Outlets	Camarillo (Los Angeles), CA		—		16,599		224,721		395		76,461		16,994		301,182		318,176		165,120	2004	(4)
Carlsbad Premium Outlets	Carlsbad (San Diego), CA		—		12,890		184,990		96		11,086		12,986		196,076		209,062		98,511	2004	(4)
Carolina Premium Outlets	Smithfield (Raleigh), NC		—		3,175		59,863		5,311		8,149		8,486		68,012		76,498		40,891	2004	(4)
Chicago Premium Outlets	Aurora (Chicago), IL		—		659		118,005		13,050		97,030		13,709		215,035		228,744		94,851	2004	(4)
Cincinnati Premium Outlets	Monroe (Cincinnati), OH		—		14,117		71,520		—		3,843		14,117		75,363		89,480		40,069	2008
Clinton Crossing Premium Outlets	Clinton, CT		—		2,060		107,556		1,532		6,970		3,592		114,526		118,118		68,416	2004	(4)
Denver Premium Outlets	Thornton (Denver), CO		—		10,779		45,335		10		73,942		10,789		119,277		130,066		23,899	2018
Desert Hills Premium Outlets	Cabazon (Palm Springs), CA		—		3,440		338,679		—		115,793		3,440		454,472		457,912		213,075	2004	(4)
Ellenton Premium Outlets	Ellenton (Tampa), FL		178,000		15,807		182,412		—		8,578		15,807		190,990		206,797		125,341	2010	(4)
Folsom Premium Outlets	Folsom (Sacramento), CA		—		9,060		50,281		—		6,477		9,060		56,758		65,818		35,713	2004	(4)
Gilroy Premium Outlets	Gilroy (San Jose), CA		—		9,630		194,122		—		17,044		9,630		211,166		220,796		115,388	2004	(4)
Gloucester Premium Outlets	Blackwood, NJ		85,054		14,389		107,685		—		153		14,389		107,838		122,227		28,589	2015	(5)
Grand Prairie Premium Outlets	Grand Prairie (Dallas), TX		—		9,497		194,245		—		1,332		9,497		195,577		205,074		67,362	2012
Grove City Premium Outlets	Grove City (Pittsburgh), PA		140,000		6,421		121,880		—		9,932		6,421		131,812		138,233		85,007	2010	(4)
Gulfport Premium Outlets	Gulfport, MS		50,000		—		27,949		—		8,215		—		36,164		36,164		20,627	2010	(4)
Hagerstown Premium Outlets	Hagerstown (Baltimore/Washington, DC), MD		70,430		3,560		85,883		—		1,690		3,560		87,573		91,133		45,565	2010	(4)
Houston Premium Outlets	Cypress (Houston), TX		—		8,695		69,350		—		42,986		8,695		112,336		121,031		61,726	2007
Indiana Premium Outlets	Edinburgh (Indianapolis), IN		—		2,857		47,309		—		20,840		2,857		68,149		71,006		39,528	2004	(4)
Jackson Premium Outlets	Jackson (New York), NJ		—		6,413		104,013		3		8,133		6,416		112,146		118,562		57,955	2004	(4)

Simon Property Group, Inc.

Simon Property Group, L.P.

Real Estate and Accumulated Depreciation

December 31, 2022

(Dollars in thousands)


								Cost Capitalized
								Subsequent to				Gross Amounts At Which								Date of
				Initial Cost (3)				Acquisition (3)				Carried At Close of Period								Construction
						Buildings and				Buildings and				Buildings and				Accumulated		or
Name	Location	Encumbrances (6)		Land		Improvements		Land		Improvements		Land		Improvements		Total (1)		Depreciation (2)		Acquisition
Jersey Shore Premium Outlets	Tinton Falls (New York), NJ	$	—	$	15,390	$	50,979	$	—	$	79,970	$	15,390	$	130,949	$	146,339	$	75,410	2007
Johnson Creek Premium Outlets	Johnson Creek, WI		—		2,800		39,546		—		7,462		2,800		47,008		49,808		25,817	2004	(4)
Kittery Premium Outlets	Kittery, ME		—		11,832		94,994		—		11,786		11,832		106,780		118,612		52,721	2004	(4)
Las Americas Premium Outlets	San Diego, CA		—		45,168		251,878		—		12,562		45,168		264,440		309,608		117,971	2007	(4)
Las Vegas North Premium Outlets	Las Vegas, NV		—		25,435		134,973		16,536		151,175		41,971		286,148		328,119		151,504	2004	(4)
Las Vegas South Premium Outlets	Las Vegas, NV		—		13,085		160,777		—		32,331		13,085		193,108		206,193		96,980	2004	(4)
Lee Premium Outlets	Lee, MA		47,480		9,167		52,212		—		5,032		9,167		57,244		66,411		35,216	2010	(4)
Leesburg Corner Premium Outlets	Leesburg (Washington, DC), VA		—		7,190		162,023		—		23,110		7,190		185,133		192,323		97,510	2004	(4)
Lighthouse Place Premium Outlets	Michigan City (Chicago, IL), IN		—		6,630		94,138		—		13,395		6,630		107,533		114,163		64,427	2004	(4)
Merrimack Premium Outlets	Merrimack, NH		—		14,975		118,428		—		2,357		14,975		120,785		135,760		51,702	2012
Napa Premium Outlets	Napa, CA		—		11,400		45,023		—		7,626		11,400		52,649		64,049		30,812	2004	(4)
North Bend Premium Outlets	North Bend (Seattle), WA		—		2,143		36,197		—		5,209		2,143		41,406		43,549		21,911	2004	(4)
North Georgia Premium Outlets	Dawsonville (Atlanta), GA		—		4,300		137,020		—		2,048		4,300		139,068		143,368		73,213	2004	(4)
Orlando International Premium Outlets	Orlando, FL		—		31,998		472,815		—		19,475		31,998		492,290		524,288		214,107	2010	(4)
Orlando Vineland Premium Outlets	Orlando, FL		—		14,040		382,949		36,023		26,484		50,063		409,433		459,496		203,390	2004	(4)
Petaluma Village Premium Outlets	Petaluma (San Francisco), CA		—		13,322		13,710		—		3,434		13,322		17,144		30,466		11,469	2004	(4)
Philadelphia Premium Outlets	Limerick (Philadelphia), PA		—		16,676		105,249		—		25,411		16,676		130,660		147,336		81,825	2006
Phoenix Premium Outlets	Chandler (Phoenix), AZ		—		—		63,082		—		569		—		63,651		63,651		28,604	2013
Pismo Beach Premium Outlets	Pismo Beach, CA		32,124		4,317		19,044		—		3,329		4,317		22,373		26,690		15,087	2010	(4)
Pleasant Prairie Premium Outlets	Pleasant Prairie (Chicago, IL/Milwaukee), WI		145,000		16,823		126,686		—		8,736		16,823		135,422		152,245		64,986	2010	(4)
Puerto Rico Premium Outlets	Barceloneta, PR		160,000		20,586		114,021		—		9,146		20,586		123,167		143,753		59,184	2010	(4)
Queenstown Premium Outlets	Queenstown (Baltimore), MD		56,432		8,129		61,950		—		5,463		8,129		67,413		75,542		33,658	2010	(4)
Rio Grande Valley Premium Outlets	Mercedes (McAllen), TX		—		12,229		41,547		—		27,130		12,229		68,677		80,906		44,789	2005
Round Rock Premium Outlets	Round Rock (Austin), TX		—		13,485		82,252		—		5,510		13,485		87,762		101,247		56,850	2005

Simon Property Group, Inc.

Simon Property Group, L.P.

Real Estate and Accumulated Depreciation

December 31, 2022

(Dollars in thousands)


								Cost Capitalized
								Subsequent to				Gross Amounts At Which								Date of
				Initial Cost (3)				Acquisition (3)				Carried At Close of Period								Construction
						Buildings and				Buildings and				Buildings and				Accumulated		or
Name	Location	Encumbrances (6)		Land		Improvements		Land		Improvements		Land		Improvements		Total (1)		Depreciation (2)		Acquisition
San Francisco Premium Outlets	Livermore (San Francisco), CA	$	—	$	21,925	$	308,694	$	46,177	$	75,086	$	68,102	$	383,780	$	451,882	$	122,532	2012
San Marcos Premium Outlets	San Marcos (Austin/San Antonio), TX		—		13,180		287,179		—		20,474		13,180		307,653		320,833		136,166	2010	(4)
Seattle Premium Outlets	Tulalip (Seattle), WA		—		—		103,722		—		55,814		—		159,536		159,536		85,199	2004	(4)
St. Augustine Premium Outlets	St. Augustine (Jacksonville), FL		—		6,090		57,670		2		15,333		6,092		73,003		79,095		41,368	2004	(4)
Tampa Premium Outlets	Lutz (Tampa), FL		—		14,298		97,188		121		5,174		14,419		102,362		116,781		30,385	2015
The Crossings Premium Outlets	Tannersville, PA		—		7,720		172,931		—		19,724		7,720		192,655		200,375		98,720	2004	(4)
Tucson Premium Outlets	Marana (Tucson), AZ		—		12,508		69,677		—		4,710		12,508		74,387		86,895		21,786	2015
Vacaville Premium Outlets	Vacaville, CA		—		9,420		84,850		—		18,873		9,420		103,723		113,143		61,181	2004	(4)
Waikele Premium Outlets	Waipahu (Honolulu), HI		—		22,630		77,316		—		19,799		22,630		97,115		119,745		53,428	2004	(4)
Waterloo Premium Outlets	Waterloo, NY		—		3,230		75,277		—		15,100		3,230		90,377		93,607		52,247	2004	(4)
Williamsburg Premium Outlets	Williamsburg, VA		185,000		10,323		223,789		—		9,377		10,323		233,166		243,489		102,609	2010	(4)
Woodburn Premium Outlets	Woodburn (Portland), OR		—		9,414		150,414		—		3,579		9,414		153,993		163,407		55,767	2013	(4)
Woodbury Common Premium Outlets	Central Valley (New York), NY		—		11,010		862,559		1,779		276,348		12,789		1,138,907		1,151,696		511,320	2004	(4)
Wrentham Village Premium Outlets	Wrentham (Boston), MA		—		4,900		282,031		—		52,369		4,900		334,400		339,300		164,647	2004	(4)

The Mills
Arizona Mills	Tempe (Phoenix), AZ		97,775		41,285		297,289		—		15,200		41,285		312,489		353,774		95,928	2007	(4) (5)
Great Mall	Milpitas (San Jose), CA		—		69,853		463,101		—		61,938		69,853		525,039		594,892		193,404	2007	(4) (5)
Gurnee Mills	Gurnee (Chicago), IL		257,710		41,133		297,911		—		32,630		41,133		330,541		371,674		124,874	2007	(4) (5)
Mills at Jersey Gardens, The	Elizabeth, NJ		—		120,417		865,605		—		23,872		120,417		889,477		1,009,894		259,860	2015	(4)
Opry Mills	Nashville, TN		375,000		51,000		327,503		—		22,928		51,000		350,431		401,431		122,261	2007	(4) (5)
Outlets at Orange, The	Orange (Los Angeles), CA		215,000		64,973		211,322		—		4,890		64,973		216,212		281,185		33,960	2007	(4) (5)
Potomac Mills	Woodbridge (Washington, DC), VA		416,000		61,608		425,370		—		39,420		61,608		464,790		526,398		180,509	2007	(4) (5)
Sawgrass Mills	Sunrise (Miami), FL		—		192,981		1,641,153		5,395		234,488		198,376		1,875,641		2,074,017		654,797	2007	(4) (5)

Designer Outlets
La Reggia Designer Outlet	Marcianise (Naples), Italy		171,255		37,220		233,179		—		40,717		37,220		273,896		311,116		72,822	2013	(4) (5) (7)
Noventa Di Piave Designer Outlet	Venice, Italy		297,121		38,793		309,283		—		75,765		38,793		385,048		423,841		90,117	2013	(4) (5) (7)

Simon Property Group, Inc.

Simon Property Group, L.P.

Real Estate and Accumulated Depreciation

December 31, 2022

(Dollars in thousands)


								Cost Capitalized
								Subsequent to				Gross Amounts At Which								Date of
				Initial Cost (3)				Acquisition (3)				Carried At Close of Period								Construction
						Buildings and				Buildings and				Buildings and				Accumulated		or
Name	Location	Encumbrances (6)		Land		Improvements		Land		Improvements		Land		Improvements		Total (1)		Depreciation (2)		Acquisition
Ochtrup Designer Outlet	Ochtrup, Germany	$	53,517	$	11,770	$	98,276	$	—	$	—	$	11,770	$	98,276	$	110,046	$	12,478	2016	(4) (5) (7)
Parndorf Designer Outlet	Vienna, Austria		195,869		14,903		223,156		—		9,698		14,903		232,854		247,757		68,785	2013	(4) (5) (7)
Provence Designer Outlet	Provence, France		101,405		41,321		80,199		6,169		—		47,490		80,199		127,689		37,182	2017	(4) (5) (7)
Roermond Designer Outlet	Roermond, Netherlands		246,178		15,035		400,094		—		18,916		15,035		419,010		434,045		127,159	2013	(4) (5) (7)
Roosendaal Designer Outlet	Roosendaal, Netherlands		63,820		22,191		108,069		—		8,770		22,191		116,839		139,030		33,580	2017	(4) (5) (7)

Lifestyle Centers
ABQ Uptown	Albuquerque, NM		—		6,374		75,333		4,054		10,140		10,428		85,473		95,901		36,053	2011	(4)
Northgate Station	Seattle, WA		—		23,610		115,992		13,557		104,529		37,167		220,521		257,688		60,743	1987
University Park Village	Fort Worth, TX		52,352		18,031		100,523		—		9,245		18,031		109,768		127,799		30,500	2015	(4)


Other Properties
Calhoun Marketplace	Calhoun, GA		17,146		1,745		12,529		—		2,139		1,745		14,668		16,413		11,396	2010	(4)
Florida Keys Outlet Center	Florida City, FL		17,000		1,112		1,748		—		5,855		1,112		7,603		8,715		4,313	2010	(4)
Gaffney Marketplace	Gaffney (Greenville/Charlotte), SC		27,696		4,056		32,371		—		6,259		4,056		38,630		42,686		24,201	2010	(4)
Orlando Outlet Marketplace	Orlando, FL		—		3,367		1,557		—		4,334		3,367		5,891		9,258		3,370	2010	(4)
Osage Beach Marketplace	Osage Beach, MO		—		1,397		8,874		—		16		1,397		8,890		10,287		2,666	2004	(4)
Southridge Mall	Greendale (Milwaukee), WI		112,087		12,359		130,111		1,939		12,244		14,298		142,355		156,653		64,232	2007	(4) (5)


Other pre-development costs			109,458		102,451		374,062		959		—		103,410		374,062		477,472		1,882
Other			25,000		3,537		269,940		267		—		3,804		269,940		273,744		23,756
Currency Translation Adjustment			—		(5,882)		(43,932)		—		(16,661)		(5,882)		(60,593)		(66,475)		(58,224)
		$	5,469,335	$	3,246,051	$	25,215,197	$	386,892	$	9,031,638	$	3,632,943	$	34,246,835	$	37,879,778	$	16,224,050

Simon Property Group, Inc.

Simon Property Group, L.P.

Notes to Schedule III as of December 31, 2022

(Dollars in thousands)

(1)	Reconciliation of Real Estate Properties:

The changes in real estate assets for the years ended December 31, 2022, 2021, and 2020 are as follows:


	2022		2021		2020
Balance, beginning of year	$	37,497,216	$	37,608,638	$	37,356,739
Acquisitions and consolidations (7)		122,074		121,250		—
Improvements		688,173		569,483		401,202
Disposals and deconsolidations		(308,030)		(655,482)		(320,328)
Currency Translation Adjustment		(119,655)		(146,673)		171,025
Balance, close of year	$	37,879,778	$	37,497,216	$	37,608,638

The unaudited aggregate cost of domestic consolidated real estate assets for U.S. federal income tax purposes as of December 31, 2022 was $20,977,712.

(2)	Reconciliation of Accumulated Depreciation:

The changes in accumulated depreciation for the years ended December 31, 2022, 2021, and 2020 are as follows:


	2022		2021		2020
Balance, beginning of year	$	15,304,461	$	14,592,867	$	13,622,433
Depreciation expense (7)		1,075,391		1,083,705		1,226,611
Disposals and deconsolidations		(180,091)		(403,582)		(236,123)
Currency Translation Adjustment		24,289		31,471		(20,054)
Balance, close of year	$	16,224,050	$	15,304,461	$	14,592,867

Depreciation of our investment in buildings and improvements reflected in the consolidated statements of operations and comprehensive income is calculated over the estimated original lives of the assets as noted below.

	●	Buildings and Improvements — typically 10-35 years for the structure, 15 years for landscaping and parking lot, and 10 years for HVAC equipment.

	●	Tenant Allowances and Improvements — shorter of lease term or useful life.

(3)	Initial cost generally represents net book value at December 20, 1993, except for acquired properties and new developments after December 20, 1993. Initial cost also includes any new developments that are opened during the current year. Costs of disposals and impairments of property are first reflected as a reduction to cost capitalized subsequent to acquisition.

(4)	Not developed/constructed by us or our predecessors. The date of construction represents the initial acquisition date for assets in which we have acquired multiple interests.

(5)	Initial cost for these properties is the cost at the date of consolidation for properties previously accounted for under the equity method of accounting.

(6)	Encumbrances represent face amount of mortgage debt and exclude any premiums or discounts and deferred financing costs.

(7)	Represents the original cost and does not include subsequent currency translation adjustments.

Previous: Item 15. Exhibits and Financial Statement Schedules