Weingarten Realty Investors (WRI) 8-K Excellent Progress on Strategic Growth Plan

Exhibit 99.2

Supplemental Financial Information
March 31, 2007
(Unaudited)

Table of Contents		Page No.
Corporate Profile		1
Statements of Consolidated Income		2
Consolidated Balance Sheets		3
Statements of Consolidated Income at Prorata Share		4
Consolidated Balance Sheets at Prorata Share		5
Summary Operating Data		6 - 7
	Funds from Operations
	Dividends
	General and Administrative Expenses
	Net Operating Income
	Rentals
	Interest Expense
	Fee Income from Joint Ventures
	Property
Joint Venture Reporting		8 - 11
	Financial Statements of Unconsolidated Joint Ventures at 100%
	Financial Statements of Unconsolidated Joint Ventures at Prorata Share
	Investments in Real Estate Joint Ventures
	Debt Information for Real Estate Joint Ventures
Summary Balance Sheet Information		12
	Common Share Data
	Capitalization
	Capital Availability
	Credit Ratings
Debt Information		13 - 14
	Outstanding Balance Summary
	Fixed vs Variable Rate Debt
	Secured vs Unsecured Debt
	Coverage Ratios
	Weighted Average Interest Rates
	Schedule of Maturities
Other Information		15 - 16
	Tenant Diversification
	Lease Expirations
	Leasing Production
	Average Minimum Rent per Square Foot
	Occupancy
Property Information		17 - 31
	Property Investment Summary
	Acquisition Summary
	Disposition Summary
	New Development Summary
	Total Operating Income at Prorata Share by Geographic Region
	Net Asset Value
	Property Listing
This supplemental financial information package contains historical information of the Company.
Certain information contained in this Supplemental Financial Information package includes certain
forward-looking statements reflecting Weingarten Realty Investors’ expectations in the near term
that involve a number of risks and uncertainties; however, many factors may materially affect
the actual results, including demand for our properties, changes in rental and occupancy rates,
changes in property operating costs, interest rate fluctuations, and changes in local and general
economic conditions. Accordingly, there is no assurance that WRI’s expectations will be realized.

i

Corporate Profile
Weingarten Realty Investors is an unincorporated trust organized under the Texas Real Estate Investment Trust Act
that, through its predecessor entity, began the ownership and development of shopping centers and other commercial
real estate in 1948. As of March 31, 2007, we owned or operated under long-term leases, interests in 373
developed income-producing properties and 32 properties that are in various stages of development (including 7
which are income-producing), which are located in 22 states that span the United States from coast to coast. Included in the
portfolio are 336 shopping centers, 67 industrial projects, and 2 office buildings. Our interests in these properties aggregated
approximately 48.6 million square feet of building area. Our properties were 94.4% leased as of March 31, 2007, and historically
our portfolio occupancy rate has never been below 90%.
Corporate Office
	2600 Citadel Plaza Drive
	P. O. Box 924133
	Houston, TX 77292-4133
	713-866-6000
	www.weingarten.com
Regional Offices
	Atlanta, GA
	Austin, TX
	Dallas, TX
	Denver, CO (Miller Weingarten)
	Ft. Lauderdale, FL
	Las Vegas, NV
	Los Angeles, CA
	Orlando, FL
	Phoenix, AZ
	Raleigh, NC
	Sacramento, CA
	Encino, CA
	Seattle, WA
Stock Listings
New York Stock Exchange:
	Common Shares	WRI
	Series D Preferred Shares	WRI-PD
	Series E Preferred Shares	WRI-PE
	Series F Preferred Shares	WRI-PF

1

Weingarten Realty Investors
Statements of Consolidated Income
(in thousands, except per share amounts)
(as reported)
			Three Months Ended
			March 31,						Twelve Months Ended December 31,
			2007			2006			2006			2005			2004			2003			2002
Revenues:
	Rentals	$	144,536		$	129,085		$	543,449		$	493,196		$	442,796		$	361,268		$	310,085
	Other		2,062			2,208			6,994			6,336			8,321			6,664			4,529
Total			146,598			131,293			550,443			499,532			451,117			367,932			314,614
Expenses:
	Depreciation and amortization		32,820			30,119			125,227			114,746			101,843			80,064			65,398
	Operating		23,711			18,454			90,206			75,276			70,424			57,250			47,985
	Ad valorem taxes		16,616			15,405			64,152			57,525			50,685			41,070			37,482
	General and administrative		6,609			5,355			23,801			17,379			16,122			13,820			11,148
	Impairment loss														3,550
Total			79,756			69,333			303,386			264,926			242,624			192,204			162,013
Operating Income			66,842			61,960			247,057			234,606			208,493			175,728			152,601
Interest Expense			(36,473	)		(34,437	)		(146,943	)		(130,761	)		(117,096	)		(90,269	)		(67,171	)
Interest and Other Income			1,713			1,452			9,045			2,867			1,390			1,562			1,053
Loss on Redemption of Preferred Shares															(3,566	)		(2,739	)
Equity in Earnings of Joint Ventures, net (a)			3,347			4,066			14,655			6,610			5,384			4,681			3,930
Income Allocated to Minority Interests			(1,178	)		(1,657	)		(6,414	)		(6,060	)		(4,928	)		(2,723	)		(3,553	)
Gain on Sale of Properties			2,059			51			22,467			22,306			1,562			665			188
Gain on Land and Merchant Development Sales			666			1,676			7,166			804
Benefit (Provision) for Income Taxes			9			(519	)		(1,366	)
Income From Continuing Operations			36,985			32,592			145,667			130,372			91,239			86,905			87,048
Operating Income From Discontinued Operations			1,514			4,930			13,823			23,822			25,259			23,336			25,347
Gain on Sale of Properties From Discontinued Operations			12,886			17,087			145,520			65,459			24,883			6,039			19,472
Income From Discontinued Operations			14,400			22,017			159,343			89,281			50,142			29,375			44,819
Net Income			51,385			54,609			305,010			219,653			141,381			116,280			131,867
Preferred Share Dividends			(4,728	)		(2,525	)		(10,101	)		(10,101	)		(7,470	)		(15,912	)		(19,756	)
Redemption Cost of Series A Preferred Shares																		(2,488	)
Net Income Available to Common Shareholders		$	46,657		$	52,084		$	294,909		$	209,552		$	133,911		$	97,880		$	112,111
Net Income Per Common Share - Basic		$	0.54		$	0.58		$	3.36		$	2.35		$	1.55		$	1.24		$	1.44
Net Income Per Common Share - Diluted		$	0.53		$	0.57		$	3.27		$	2.31		$	1.54		$	1.24		$	1.43
(a) See Page 8 for the Company's prorata share of the operating results of its unconsolidated joint ventures.

2

Weingarten Realty Investors
Consolidated Balance Sheets
(in thousands, except per share amounts)
(as reported)
		March 31,			December 31,
		2007			2006
ASSETS
Property		$	4,546,606		$	4,445,888
Property Held for Sale			80,823
Accumulated Depreciation			(722,195	)		(707,005	)
Property - net			3,905,234			3,738,883
Investment in Real Estate Joint Ventures (a)			255,413			203,839
Total			4,160,647			3,942,722
Notes Receivable from Real Estate Joint Ventures and Partnerships			11,429			3,971
Unamortized Debt and Lease Costs			115,131			112,873
Accrued Rent and Accounts Receivable (net of allowance for doubtful
accounts of $6,450 in 2007 and $5,995 in 2006)			74,208			78,893
Cash and Cash Equivalents			35,506			71,003
Restricted Deposits and Mortgage Escrows			29,309			94,466
Other			91,767			71,612
Total		$	4,517,997		$	4,375,540
LIABILITIES AND SHAREHOLDERS' EQUITY
Debt		$	2,890,831		$	2,900,952
Accounts Payable and Accrued Expenses			91,203			132,821
Other			123,990			128,306
Total			3,106,024			3,162,079
Minority Interest			72,197			87,680
Commitments and Contingencies
Shareholders' Equity:
Preferred Shares of Beneficial Interest - par value, $.03 per share;
shares authorized: 10,000
6.75% Series D cumulative redeemable preferred shares of
beneficial interest; 100 shares issued and outstanding
in 2007 and 2006; liquidation preference $75,000			3			3
6.95% Series E cumulative redeemable preferred shares of
beneficial interest; 29 shares issued and outstanding in 2007
and 2006; liquidation preference $72,500			1			1
6.5% Series F cumulative redeemable preferred shares of
beneficial interests; 80 shares issued and outstanding in 2007;
liquidation preference $200,000			2
Common Shares of Beneficial Interest - par value, $.03 per share;
shares authorized: 150,000; shares issued and outstanding:
86,435 in 2007 and 85,765 in 2006			2,604			2,582
Additional Paid in Capital			1,346,331			1,136,481
Net Income in Excess (Less Than) Accumulated Dividends			3,091			(786	)
Accumulated Other Comprehensive Loss			(12,256	)		(12,500	)
Shareholders' Equity			1,339,776			1,125,781
Total		$	4,517,997		$	4,375,540
	��
(a) This represents the Company's investment of its unconsolidated joint ventures. See page 8 for additional information.

3

Weingarten Realty Investors
Statements of Consolidated Income at Prorata Share
(in thousands, except per share amounts)
	Three Months Ended
	March 31,						Twelve Months Ended December 31,
	2007			2006			2006			2005			2004			2003			2002
Revenues:
Rentals	$	149,763		$	130,685		$	552,592		$	497,460		$	444,323		$	361,813		$	314,514
Other		2,177			2,258			7,774			6,498			8,074			6,843			4,631
Total		151,940			132,943			560,366			503,958			452,397			368,656			319,145
Expenses:
Depreciation and amortization		33,991			30,296			126,793			114,855			101,554			78,485			65,606
Operating		23,859			18,531			90,337			75,068			70,297			57,099			48,176
Ad valorem taxes		17,333			15,519			64,703			57,850			50,732			41,226			37,996
General and administrative		6,619			5,367			23,902			17,436			16,125			13,821			11,145
Impairment loss														3,550
Total		81,802			69,713			305,735			265,209			242,258			190,631			162,923
Operating Income		70,138			63,230			254,631			238,749			210,139			178,025			156,222
Interest Expense		(37,537	)		(34,156	)		(147,642	)		(129,790	)		(115,357	)		(89,945	)		(68,981	)
Interest and Other Income		2,756			1,732			10,687			3,640			2,553			3,615			3,265
Loss on Redemption of Preferred Shares														(3,566	)		(2,739	)
Income Allocated to Minority Interests		(1,106	)		(1,399	)		(5,453	)		(5,218	)		(3,990	)		(3,236	)		(3,720	)
Gain on Sale of Properties		2,059			1,612			26,536			22,102			1,460			1,185			262
Gain on Land and Merchant Development Sales		666			2,092			8,274			889
Benefit (Provision) for Income Taxes		9			(519	)		(1,366	)
Income From Continuing Operations		36,985			32,592			145,667			130,372			91,239			86,905			87,048
Operating Income From Discontinued Operations		1,514			4,930			13,823			23,822			25,259			23,336			25,347
Gain on Sale of Properties From Discontinued Operations		12,886			17,087			145,520			65,459			24,883			6,039			19,472
Income From Discontinued Operations		14,400			22,017			159,343			89,281			50,142			29,375			44,819
Net Income		51,385			54,609			305,010			219,653			141,381			116,280			131,867
Preferred Share Dividends		(4,728	)		(2,525	)		(10,101	)		(10,101	)		(7,470	)		(15,912	)		(19,756	)
Redemption Cost of Series A Preferred Shares																	(2,488	)
Net Income Available to Common Shareholders	$	46,657		$	52,084		$	294,909		$	209,552		$	133,911		$	97,880		$	112,111
Net Income Per Common Share - Basic	$	0.54		$	0.58		$	3.36		$	2.35		$	1.55		$	1.24		$	1.44
Net Income Per Common Share - Diluted	$	0.53		$	0.57		$	3.27		$	2.31		$	1.54		$	1.24		$	1.43
Note:
Prorata financial information is not, and is not intended to be, a presentation in accordance with generally accepted accounting principles.
The Statements of Consolidated Income at Prorata Share include the real estate operations of joint ventures at WRI's ownership percentages ranging from 20% to 81% except for the operations of down-reit partnerships, which are included at 100%.

4

Weingarten Realty Investors
Consolidated Balance Sheets at Prorata Share
(in thousands, except per share amounts)
				March 31,			December 31,
				2007			2006
ASSETS
	Property			$	4,806,980		$	4,610,751
	Property Held for Sale				80,823
	Accumulated Depreciation				(732,524	)		(707,289	)
		Property - net			4,155,279			3,903,462
Notes Receivable from Real Estate Joint Ventures and Partnerships					46,549			54,125
	Unamortized Debt and Lease Costs				122,912			118,377
Accrued Rent and Accounts Receivable (net of allowance for doubtful
		accounts of $7,181 in 2007 and $6,696 in 2006)			76,238			79,165
	Cash and Cash Equivalents				47,175			84,092
	Restricted Deposits and Mortgage Escrows				29,997			93,955
	Other				108,502			75,858
			Total	$	4,586,652		$	4,409,034
LIABILITIES AND SHAREHOLDERS' EQUITY
	Debt			$	2,964,248		$	2,945,288
	Accounts Payable and Accrued Expenses				90,537			132,845
	Other				126,991			126,865
			Total		3,181,776			3,204,998
	Minority Interest				65,100			78,255
	Commitments and Contingencies
	Shareholders' Equity:
	Preferred Shares of Beneficial Interest - par value, $.03 per share;
		shares authorized: 10,000
		6.75% Series D cumulative redeemable preferred shares of
		beneficial interest; 100 shares issued and outstanding
		in 2007 and 2006; liquidation preference $75,000			3			3
		6.95% Series E cumulative redeemable preferred shares of
		beneficial interests; 29 shares issued and outstanding in 2007
		and 2006; liquidation preference $72,500			1			1
		6.5% Series F cumulative redeemable preferred shares of
		beneficial interests; 80 shares issued and outstanding in 2007;
		liquidation preference $200,000			2
	Common Shares of Beneficial Interest - par value, $.03 per share;
		shares authorized: 150,000; shares issued:
		86,435 in 2007 and 85,765 in 2006			2,604			2,582
	Capital Surplus				1,346,331			1,136,481
	Net Income in Excess (Less Than) Accumulated Dividends				3,091			(786	)
	Accumulated Other Comprehensive Loss				(12,256)			(12,500	)
			Shareholders' Equity		1,339,776			1,125,781
			Total	$	4,586,652		$	4,409,034
	Note:
	Prorata financial information is not, and is not intended to be, a presentation in accordance with generally accepted accounting principles.
The Consolidated Balance Sheets at Prorata Share include the real estate operations of joint ventures at WRI's ownership percentages
ranging from 20% to 81% except for the operations of down-reit partnerships, which are included at 100%.

5

Weingarten Realty Investors
Summary Operating Data
(in thousands, except per share amounts)
				Three Months Ended
				March 31,
				2007			2006
Funds from Operations
Numerator:
	Net income available to common shareholders		$	46,657		$	52,084
	Depreciation and amortization			31,979			31,431
	Depreciation and amortization of unconsolidated joint ventures			2,057			1,018
	Gain on sale of properties			(14,945	)		(17,142	)
	Gain on sale of properties of unconsolidated joint ventures						(1,557	)
	Funds from Operations - Basic			65,748			65,834
	Funds from operations attributable to operating
	partnership units			1,106			1,399
		Funds from Operations - Diluted	$	66,854		$	67,233
Denominator:
	Weighted average shares outstanding - Basic			86,005			89,515
	Effect of dilutive securities:
		Share options and awards		1,123			850
		Operating partnership units		2,681			3,151
	Weighted average shares outstanding - Diluted			89,809			93,516
	Funds from Operations per Share - Basic		$	0.76		$	0.74
	Funds from Operations Per Share - Diluted		$	0.74		$	0.72
	Growth in Funds from Operations per Share - Diluted						2.8	%
Dividends
Common Dividends per Share			$	0.495		$	0.465
Common Dividends Paid as a % of Funds from Operations				65.1		%	63.4	%
General and Administrative Expenses *
General and Administrative Expenses/Total Revenue				4.4		%	4.0	%
General and Administrative Expenses/Total Assets before Depreciation				0.12		%	0.12	%
Net Operating Income *
Same Property NOI Growth: **
		Retail		3.4		%	4.8	%
		Industrial		2.3		%	6.9	%
		Total		3.3		%	4.9	%
* Includes the Company's share of unconsolidated joint ventures and excludes its partners' share of consolidated joint ventures ("Prorata Share").
** Same Property NOI Growth excludes the effect of lease cancellation income.
The National Association of Real Estate Investment Trusts defines funds from operations as net income (loss) available to common shareholders computed in accordance with generally accepted accounting principles, excluding gains or losses from sales of real estate assets and extraordinary items, plus depreciation and amortization of operating properties, including our share of unconsolidated partnerships and joint ventures.  We calculate FFO in a
manner consistent with the NAREIT definition.
We believe FFO is an appropriate supplemental measure of operating performance because it helps investors compare our operating performance relative to other REITs. Management also uses FFO as a supplemental measure to conduct and evaluate our business because there are certian limitations associated with using GAAP net income by itself as the primary measure of our operating performance.  Historical cost accounting for real estate assets in
accordance with GAAP implicitly assumes that the value of real estate assets diminishes predictably over time.   Since real estate values instead have historically risen or fallen with market conditions, management believes that the presentation of operating results for real estate companies that uses historical cost accounting is insufficient by itself.  There can be no assurance that FFO presented by us is comparable to similarly titled measures of other REITs.
FFO should not be considered as an alternative to net income or other measurements under GAAP as an indicator of our operating performance or to cash flows from operating, investing or financing activities as a measure of liquidity.  FFO does not reflect working capital changes, cash expenditures for capital improvements or principal payments on indebtedness.

6

Weingarten Realty Investors
Summary Operating Data (continued)
(in thousands)
				Three Months Ended
				March 31,
				2007			2006
Rentals
Base minimum rent, net			$	111,394		$	102,516
Straight line rent				2,228			1,384
Over/Under-market rentals, net				774			166
Percentage rent				1,812			1,372
Tenant reimbursements				28,328			23,647
		Total	$	144,536		$	129,085
				Three Months Ended
				March 31,
				2007			2006
Rentals (Prorata Share)
Base minimum rent, net			$	115,263		$	103,839
Straight line rent				2,334			1,427
Over/Under-market rentals, net				1,028			224
Percentage rent				1,790			1,411
Tenant reimbursements				29,348			23,784
		Total	$	149,763		$	130,685
				Three Months Ended
				March 31,
				2007			2006
Interest Expense (Prorata Share)
Interest paid or accrued			$	44,877		$	36,878
Over-market mortgage adjustment				(1,783	)		(1,839	)
Gross interest expense				43,094			35,039
Less:
	Capitalized interest			(5,557	)		(883	)
		Interest expense, at prorata share	$	37,537		$	34,156
				Three Months Ended
			��	March 31,
				2007			2006
Fee Income from Joint Ventures
Recurring			$	1,053		$	309
Non-Recurring				20			44
		Total	$	1,073		$	353
			March 31,			December 31,
			2007			2006
Property at Prorata Share
Land			$	966,640		$	910,240
Land held for development				20,126			20,078
Land under development				193,880			142,366
Buildings and improvements				3,512,109			3,446,226
Construction in-progress				114,225			91,841
		Total	$	4,806,980		$	4,610,751

7

Weingarten Realty Investors
Financial Statements of Unconsolidated Joint Ventures at 100%
(in thousands)
	Three Months Ended
	March 31,
	2007			2006
Revenues:	$	29,346		$	10,569
Expenses:
Depreciation and amortization		6,511			2,436
Interest		5,090			2,608
Operating		4,420			1,429
Ad valorem taxes		3,810			1,078
General and administrative		165			121
Total		19,996			7,672
Gain on land sales					555
Gain on sale of properties					2,550
Net income	$	9,350		$	6,002
		March 31,			December 31,
		2007			2006
ASSETS
Property	$	1,145,926		$	1,067,706
Accumulated depreciation		(48,859	)		(39,354	)
Property - net		1,097,067			1,028,352
Other assets		102,333			115,468
Total	$	1,199,400		$	1,143,820
LIABILITIES AND SHAREHOLDERS' EQUITY
Debt	$	330,342		$	327,695
Amounts payable to WRI		15,295			22,619
Other liabilities		40,268			38,405
Accumulated equity		813,495			755,101
Total	$	1,199,400		$	1,143,820

8

Weingarten Realty Investors
Financial Statements of Unconsolidated Joint Ventures at Prorata Share
(in thousands)
	Three Months Ended
	March 31,
	2007			2006
Revenues:	$	9,198		$	4,693
Expenses:
Depreciation and amortization		2,057			1,018
Interest		1,503			862
Operating		1,373			616
Ad valorem taxes		1,122			463
General and administrative		72			53
Total		6,127			3,012
Gain on land and merchant development sales					416
Gain on sale of property					1,557
Net Income	$	3,071		$	3,654
		March 31,			December 31,
		2007			2006
ASSETS
Property	$	356,627		$	307,559
Accumulated Depreciation		(23,216	)		(16,869	)
Property - net		333,411			290,690
Other Assets		38,641			40,159
Total	$	372,052		$	330,849
LIABILITIES AND SHAREHOLDERS' EQUITY
Debt	$	97,630		$	97,969
Amounts Payable to WRI		5,910			7,382
Accounts Payable and Accrued Expenses		10,825			10,210
Total		114,365			115,561
Accumulated Equity		257,687			215,288
Total	$	372,052		$	330,849
Notes:
The Consolidated Financial Statements at prorata share include only the real estate operations of joint ventures at WRI's ownership percentages.
Prorata financial information is not, and is not intended to be, a presentation in accordance with generally accepted accounting principles.

9

Weingarten Realty Investors
Investments in Real Estate Joint Ventures
March 31, 2007
(In Thousands)
							Weingarten Realty
Joint Venture Partner	Number of Properties	Total GLA		Total Assets		Total Debt	Ownership Interest			Share of Debt		Investment 3/31/2007		Equity in Earnings of Unconsolidated JVs (1)
TIAA Florida Retail LLC	7	1,264	$	350,761	$	-	20.0	%	$	-	$	65,630	$	840
AEW SRP, LLC	10	984		201,468		120,507	26.3	%		31,751		17,532		198
BIT Investment Thirty-Six, LP	5	2,057		126,505		-	20.0	%		-		17,451		336
Collins	8	1,641		131,196		12,617	50.0	%		6,308		57,364		481
Eagle AN, LP	7	2,036		51,350		36,871	20.0	%		7,374		-		(6)
AEW - Institutional Client	6	515		139,153		71,390	20.0	%		14,278		12,213		137
Other	19	2,733		198,968		88,957	42.6	%		37,918		85,223		1,361
Total	62	11,230	$	1,199,400	$	330,342	30.7	%	$	97,630	$	255,413	$	3,347
Joint Venture Description
TIAA Florida Retail LLC -	Joint venture with an institutional partner, TIAA-CREF Global Real Estate.
AEW SPR, LLC -	Retail joint venture with an institutional partner through AEW Capital Management
BIT Investment Thirty-Six, LP -	Industrial joint venture with Mercantile Real Estate Advisors and its client, the AFL-CIO Building Investment Trust
Collins -	Primarily a development joint venture in the Rio Grande valley
Eagle AN, LP -	Industrial joint venture with American National Insurance Company
AEW - Institutional Client	Joint venture with an institutional partner through AEW Capital Management
(1) Ties to consolidated income statement but differs from prorata income statement due to elimination of intercompany interest income/expense and management fees.

10

Weingarten Realty Investors
Debt Information in Real Estate Joint Ventures
March 31, 2007
(In Thousands)
Joint Venture Partner	Number of Properties		Mortgage Balance		Average Interest Rate (1)			Average Remaining Term (yrs)
TIAA Florida Retail LLC		7
AEW SRP, LLC		10	$	120,507		5.7	%		8.0
BIT Investment Thirty-Six, LP		5
Collins		8		12,617		6.0	%		14.3
Eagle AN, LP		7		36,871		8.1	%		3.4
AEW - Institutional Client		6		71,390		5.7	%		6.9
Other		19		88,357		5.7	%		8.1
Total		62	$	329,742		6.0	%		7.8
(1) Only 1 of the 17 "Other" joint ventures has a variable rate mortgage ($3.2 million) - All other mortgages are fixed rate

11

Weingarten Realty Investors
Summary Balance Sheet Information
(in thousands, except common share data and percentages)
	March 31,			December 31,
	2007			2006
Common Share Data
Closing Market Price	$	47.56		$	46.11
Dividend Yield		4.16	%		4.03	%
90-Day Average Trading Volume		440,369			340,616
Capitalization (As reported)
Debt	$	2,890,831		$	2,900,952
Preferred Shares		347,500			147,500
Common Shares at Market		4,110,849			3,954,624
Operating Partnership Units at Market		116,522			138,745
Total Market Capitalization	$	7,465,702		$	7,141,821
Debt to Total Market Capitalization		38.7	%		40.6	%
Capitalization (Prorata)
Debt	$	2,964,248		$	2,945,288
Preferred Shares		347,500			147,500
Common Shares at Market		4,110,849			3,954,624
Operating Partnership Units at Market		116,522			138,745
Total Market Capitalization	$	7,539,119		$	7,186,157
Debt to Total Market Capitalization		39.3	%		41.0	%
Capital Availability
Unused Portion of $400 MM Revolver	$	371,743		$	371,923
Shelf Registration - $1 Billion Effective April 2003		85,430			85,430
Shelf Registration - $1.5 Billion Effective September 2004		1,300,000			1,500,000
Shelf Registration - $50 Million Effective September 2004		50,000			50,000
Total	$	1,807,173		$	2,007,353
Credit Ratings		S&P			Moody's
Senior Debt		A-			Baa1
Preferred Shares		BBB+			Baa2

12

Weingarten Realty Investors
Debt Information
(in thousands, except percentages)
					1st Quarter						4th Quarter
		March 31,			Weighted			December 31,			Weighted
		2007			Average Rate			2006			Average Rate
Outstanding Balance Summary (2)
Mortgage Debt		$	943,445			6.90	%	$	953,938			7.29	%
7% 2011 Bonds			200,000			7.00	%		200,000			7.00	%
3.95% Convertible Bonds (3)			575,000			3.95	%		575,000			3.95	%
Unsecured Notes Payable			1,119,867			5.85	%		1,119,867			5.85	%
Revolving Credit Agreements (1)			18,430			9.86	%		18,000			5.97	%
Industrial Revenue Bonds			4,364			5.40	%		4,422			5.36	%
Obligations under Capital Leases			29,725			6.21	%		29,725			6.00	%
Total Debt - As Reported			2,890,831			6.02	%		2,900,952			6.09	%
Less: Minority Partners' Interests			(24,213	)					(53,633	)
Plus: WRI Share of Unconsolidated Joint Ventures			97,630						97,969
Total Debt - Prorata Share		$	2,964,248			6.03	%	$	2,945,288			6.10	%
			March 31,						December 31,
			2007			% of Total			2006			% of Total
Fixed vs Variable Rate Debt (at Prorata Share)
(includes the effect of interest rate swaps)
Fixed-rate debt		$	2,847,961			96.1	%	$	2,829,344			96.1	%
Variable-rate debt			116,287			3.9	%		115,944			3.9	%
Total		$	2,964,248			100.0	%	$	2,945,288			100.0	%
Secured vs Unsecured Debt (at Prorata Share)
Secured Debt		$	1,053,368			35.5	%	$	1,035,072			35.1	%
Unsecured Debt			1,910,880			64.5	%		1,910,216			64.9	%
Total		$	2,964,248			100.0	%	$	2,945,288			100.0	%
Coverage Ratios (at Prorata Share trailing 4 quarters)
Fixed Charge Coverage			2.26x						2.37x
Interest Coverage			2.36x						2.45x
Debt Service Coverage			2.32x						2.41x
			As			Prorata
			Reported			Share
Weighted Average Interest Rates (2)
Three months ended 3/31/07			6.02	%		6.03	%
Twelve months ended 12/31/06			6.23	%		6.26	%
(1)	Weighted average revolving interest rate excluding the effect of the commitment fee was 5.68% in first quarter 2007and 5.63% in fourth quarter 2006.
(2)	Weighted average interest rates exclude the effects of FAS 141 and loan costs related to financing.
(3)	The convertible bonds mature August 1, 2026 with a call option anytime after August 2011 and a $49.05 per share coversion rate.

13

Weingarten Realty Investors
Debt Information
(in thousands, except percentages)
Schedule of Maturities at March 31, 2007
	As Reported					Prorata Share
	Maturities		Rate (8)			Maturities		Rate (8)			Floating Rate		Fixed Rate
2007 (1) (2)	$	109,396		6.35	%	$	111,348		6.33	%	$	9,969	$	101,379
2008 (3) (4)		252,662		6.72	%		253,170		6.65	%		429		252,741
2009		113,510		6.52	%		113,265		6.46	%		9,795		103,470
2010		119,188		6.62	%		132,208		6.55	%		550		131,658
2011 (5)		890,324		4.97	%		884,747		4.95	%		-		884,747
2012		307,900		5.56	%		311,573		5.54	%		-		311,573
2013		302,205		5.81	%		292,791		5.72	%		-		292,791
2014		338,356		5.29	%		367,874		5.36	%		2,115		365,759
2015		189,347		6.13	%		197,447		6.03	%		-		197,447
Thereafter		233,283		7.07	%		265,166		7.07	%		-		265,166
Subtotal		2,856,171					2,929,588					22,857		2,906,731
Revolvers (6)		18,430		9.86	%		18,430		9.86	%		18,430
Other (7)		16,230					16,230							16,230
Swap Maturities:
2007												25,000		(25,000	)
2014												50,000		(50,000	)
Total	$	2,890,831		6.02	%	$	2,964,248		6.03	%	$	116,287	$	2,847,961
(1) Includes $3.0 million of amortizing industrial revenue bonds with a final maturity date of 2015 that are currently callable by the lender.
(2) Includes $25 million of MTN's maturing 2027 with 10 and 20 year put options.
(3) Includes $25 million of MTN's maturing 2028 with 10, 12 and 20 year put options.
(4) Includes prepayment of $121.8 million mortgage.
(5) Includes $575 million of Convertible debt maturing in 2026 with a 5 year call option.
(6) Includes the effect of the commitment fee.
(7) Other includes capital leases and market value of swaps.
(8) Interest rates exclude the effects of FAS 141 and loan costs related to financing.

14

Weingarten Realty Investors
Tenant Diversification by Percent of Rental Revenues at Prorata Share
(in thousands, except percentages and # of units)
				% of Prorata
			# of Units	Rental	Square
Rank	Tenant Name	DBA’s		Revenue	Feet
1	THE KROGER CO.	Kroger, Smith Food, Ralphs, Fry's Food, King Soopers	31	2.76%	1,765
2	T.J.X. COMPANIES, INC.	T.J. Maxx, Marshalls	29	1.67%	812
3	ROSS STORES, INC.	Ross Dress for Less	28	1.48%	695
4	SAFEWAY, INC.	Safeway, Randalls, Von's	19	1.44%	936
5	PUBLIX SUPER MARKETS, INC.		21	1.39%	783
6	HOME DEPOT, INC.		7	1.18%	801
7	OFFICE DEPOT, INC.		25	1.10%	533
8	BLOCKBUSTER VIDEO		55	1.08%	297
9	CIRCUIT CITY		9	0.93%	324
10	BARNES & NOBLE INC.	Barnes & Noble, Bookstop Booksellers	12	0.93%	283
11	GAP, INC.	Gap, Old Navy, Banana Republic	19	0.91%	314
12	PETCO ANIMAL SUPPLIES, INC.		21	0.81%	264
13	OFFICE MAX INC.		13	0.76%	307
14	PETSMART, INC.		14	0.69%	277
15	LINENS 'N THINGS, INC.		10	0.65%	273
16	STAPLES		12	0.63%	319
17	H E BUTT GROCERY		5	0.63%	311
18	BED BATH & BEYOND, INC.		15	0.61%	313
19	HARRIS TEETER		6	0.61%	287
20	DOLLAR TREE STORES, INC.	Dollar Tree, Greenbacks	31	0.60%	301
21	RALEY'S	Raley's Bel Air Markets	6	0.58%	331
22	BEST BUY, INC.		9	0.56%	221
23	MOVIE GALLERY, INC.		23	0.56%	137
24	STAGE STORES	Beall's, Palais Royal, Stages	20	0.55%	438
25	TOYS 'R' US		8	0.55%	304
	Total		448	23.65%	11,626

15

Weingarten Realty Investors
Leasing Information
(in thousands, except percentages and # of units and leases, prorata share)
Lease Expirations
		Shopping Center						Industrial						Total
		Percentage of						Percentage of						Percentage of
					Prorata						Prorata						Prorata
Year Expiring		Sq. Ft.			Revenue			Sq. Ft.			Revenue			Sq. Ft.			Revenue
2007			6.25	%		6.71	%		12.03	%		13.54	%		7.50	%		7.41	%
2008			11.42	%		11.35	%		23.96	%		24.35	%		14.14	%		12.69	%
2009			11.89	%		12.49	%		19.86	%		18.97	%		13.61	%		13.15	%
2010			12.52	%		13.78	%		13.09	%		13.19	%		12.62	%		13.71	%
2011			12.97	%		14.30	%		8.48	%		9.81	%		11.97	%		13.83	%
2012-2016			26.91	%		26.17	%		22.51	%		20.12	%		25.92	%		25.53	%
2017-2026			16.80	%		14.32	%		0.08	%		0.02	%		13.27	%		12.90	%
Leasing Production - New Leases and Renewals
						Number
						of						Increase
						Leases			Square Feet			in Base Rent
Three Months Ended
March 31, 2007
Retail						256			1,200			10.4	%
Industrial						48			909			4.1	%
Total						304			2,109			9.0	%
Three Months Ended
March 31, 2006
Retail						243			940			10.9	%
Industrial						50			908			4.1	%
Total						293			1,848			9.5	%
Average Minimum Rent per Square Foot
	Quarter Ended
			March 31,			December 31,			September 30,			June 30,			March 31,
			2007			2006			2006			2006			2006
Retail	$		12.14		$	12.12		$	12.10		$	11.69		$	11.50
Industrial	$		4.98		$	4.91		$	4.92		$	4.80		$	4.82
Occupancy	Quarter Ended
			March 31,			December 31,			September 30,			June 30,			March 31,
			2007			2006			2006			2006			2006
Shopping Center Portfolio			95.4	%		95.0	%		95.0	%		95.2	%		94.9	%
Industrial Portfolio			90.8	%		91.2	%		90.4	%		89.5	%		92.9	%
Total Portfolio			94.4	%		94.1	%		94.0	%		93.7	%		94.4	%
Note: A space is considered occupied upon execution of a lease agreement.

16

Weingarten Realty Investors
Property Information
(in thousands at prorata share)
Property Investment Summary
			New		Major		All
	Acquisitions		Development		Repairs		Other		Total
Three Months Ended 03/31/2007	$	192,187	$	68,700	$	1,731	$	15,534	$	278,152
Year Ended 12/31/2006		602,987		166,999		14,338		32,757		817,081
Year Ended 12/31/2005		358,990		33,171		12,858		36,791		441,810
Year Ended 12/31/2004		511,245		37,836		12,265		41,983		603,329
Year Ended 12/31/2003		413,796		64,011		11,754		39,062		528,623

17

Weingarten Realty Investors
Property Information
(in thousands at prorata share)
Acquisition Summary			Sq. Ft.
			of Bldg. Area		Date		Total
Center	City/State		at 100%		Acquired		Investment		Yield
Wholly-Owned Acquisitions
Shopping Centers
Scottsdale Horizon		Scottsdale, AZ		10		01/22/07
Entrada De Oro		Tucson, AZ		89		01/22/07
Oracle Crossings		Tucson, AZ		254		01/22/07
Oracle Wetmore		Tucson, AZ		287		01/22/07
Cherokee Plaza		Atlanta, GA		99		01/25/07
Shoppes at Bears Path		Tucson, AZ		44		03/13/07
Madera Village		Tucson, AZ		97		03/13/07
				879						6.30	%
Industrial
Lakeland Interstate Industrial Park I		Lakeland, FL		168		01/11/07
				168						6.00	%
Office Buildings
Arcadia Biltmore Plaza (1)		Phoenix, AZ		24		01/31/07
				24						5.60	%
Subtotal - Wholly Owned Acquisitions				1,071
Joint Venture Acquisitions
Shopping Centers
Sunrise West (25%)		Sunrise, FL		76		01/26/07
Cole Park Plaza (25%)		Chapel Hill, NC		82		02/01/07
				159						6.60	%
Subtotal - Joint Venture Acquisitions				159						6.60	%
Grand Total Acquisitions (Y-T-D)				1,230			$	192,187		6.20	%
(1) Acquired office building, a portion of which will be use to house company personnel.

18

Weingarten Realty Investors
Property Information
(in thousands at prorata share)
Disposition Summary
		Sq. Ft.
		of Bldg. Area	Date		Sales	Weighted Sales
Center	City/State	at 100%	Sold		Proceeds	Cap
Operating Property Sales
Shopping Centers
Southridge Plaza	Austin, TX	146	3/8/07
Subtotal - Shopping Centers		146				6.94%
Grand Total Operating Property Sales (Y-T-D)		146		$	17,200	6.94%
Land and Merchant Development Sales
Lake Pointe Market Center	Rowlett (Dallas), Texas		2/2/07
Boswell Towne Center	Saginaw, Texas		1/18/07
Grand Total Land and Merchant Development Sales (Y-T-D)				$	1,432

19

	Weingarten Realty Investors
	Properties Currently Under Development
	(in thousands at prorata share, except percentage)
					Total Square Feet
					of Building Area (1)		Spent	Spent
				Percent		WRI’s	Year-To-Date	Inception	Total Estimated Investment		Est. Final	Estimated
	Center Name	Location	Anchor	Ownership	Total	Share	2007	To Date	WRI Costs	Gross Costs	ROI %	Stabilization
1	Glenwood Meadows *	Glenwood Springs (Denver), Colorado	Target (O.B.O.)	42%	403	114	$ 251	$ 11,518	$ 11,518	$ 27,463		1Q '08
2	Buckingham Square	Aurora (Denver), Colorado	Target (O.B.O.)	50%	930	254	36	1,318	15,572	31,143		2010
3	River Point at Sheridan	Sheridan (Denver), Colorado	Target / Costco	50%	780	225	(16,407)	4,234	27,352	54,704		2009
4	Raintree Ranch	Chandler (Phoenix), Arizona	Whole Foods	100%	140	140	2,938	16,088	28,799	28,799		4Q '07
Total Western Region					2,253	734	(13,182)	33,158	83,241	142,110
5	Starr Plaza *	Rio Grande City, Texas	Beall's / H.E.B	50%	185	93	(5)	10,185	10,263	20,527		3Q '06
6	Sharyland Towne Crossing *	Mission, Texas	Target (O.B.O.) / H.E.B	50%	491	180	1,449	14,710	25,174	50,348		4Q '07
7	Market at Nolana *	McAllen, Texas	Wal-Mart (O.B.O.)	50%	263	30	234	3,110	5,252	10,504		2008
8	Market at Sharyland Place*	Mission, Texas	Kohl's	50%	106	53	(29)	1,650	2,747	5,495		2Q '08
9	North Sharyland Crossing*	Mission, Texas		50%	319	159	10	3,617	11,025	22,050		2008
Total Central Region					1,365	515	1,659	33,272	54,462	108,924
10	Phillips Landing	Orlando, Florida	Wal-Mart (O.B.O.)	100%	66	66	2,582	8,206	14,475	14,475		1Q '08
11	Ridgeway Trace	Memphis, Tennessee	Target	100%	334	196	737	28,295	55,731	55,731		2010
12	Waterford Village	Leland (Wilmington), North Carolina	Harris Teeter	75%	110	82	(135)	6,238	12,432	16,576		3Q '08
13	S. Fulton Town Center	Atlanta, Georgia	Wal-Mart (O.B.O.)	50%	487	151	9,037	9,037	24,454	48,907		2010
14	Phillips Crossing	Orlando, Florida	Whole Foods	100%	140	140	(209)	1,404	21,706	21,706		2008
15	Colonial Landing	Orlando, Florida	PetsMart / Bed, Bath & Beyond	50%	265	132	309	11,361	14,838	29,675		2008
Total Eastern Region					1,401	768	12,321	64,541	143,635	187,070
	Total 15 Properties currently Under Development to be held by WRI				5,019	2,017	$ 798	$ 130,971	$ 281,337	$ 438,104	9.5%
1	Village at Liberty Lake *	Liberty Lake (Spokane), Washington	Home Depot (O.B.O.)	50%	159	5	13	902	902	902		4Q '07
2	Jess Ranch Phase III *	Apple Valley (Los Angeles), California	Best Buy / Bed, Bath & Beyond	50%	194	97	5,112	5,112	22,181	44,361		2010
3	Laveen Village Phase II	Phoenix, Arizona	Home Depot (O.B.O.)	100%	196	57	4,018	13,532	13,532	13,532		2Q '07
4	The Shoppes at Parkwood Ranch	Mesa (Phoenix), Arizona	Hobby Lobby	100%	123	114	5,814	5,814	19,553	19,553		2009
5	Jess Ranch Marketplace*	Apple Valley (Los Angeles), California	Winco (O.B.O.)	50%	0	107	1,571	4,771	18,164	36,328		3Q '08
Total Western Region					673	379	16,528	30,131	74,332	114,677
6	North Towne Plaza	Brownsville, Texas	Lowe's (O.B.O.)	75%	333	162	74	5,092	22,106	29,474		2010
7	Westwood Center	San Antonio, Texas		100%	275	96	10,780	10,780	16,323	16,323		2010
8	Festival Plaza	Helotes (San Antonio), Texas		100%	257	49	38	807	7,643	7,643		2010
9	Gateway Station	Burleson (Fort Worth), Texas	Kohl's (O.B.O.)	70%	100	69	45	1,326	8,932	12,760		2009
10	Westover Square	San Antonio, Texas	Target (O.B.O.) / Lowe's (O.B.O.)	67%	60	0	6	3,058	3,911	5,838		2009
11	River Pointe Apartments II	Conroe (Houston), Texas	N/A	100%	217	217	5,209	8,869	14,756	14,756		2009
12	Rock Prairie Marketplace	College Station, Texas		100%	554	173	3,335	15,656	28,145	28,145		2011
13	Tomball Marketplace	Tomball (Houston), Texas	Academy (O.B.O.)	100%	337	242	3,796	20,888	38,952	38,952		2009
Total Central Region					2,133	1,008	23,283	66,476	140,768	153,891
14	Surf City Crossing	Surf City (Wilmington), North Carolina	Harris Teeter	100%	71	69	95	3,389	8,612	8,612		2011
15	Southern Pines	Southern Pines, NC		100%	204	204	8,243	8,243	34,711	34,711		2010
16	Shoppes at Caveness Farms (Retail Tracts)	Wake Forest (Raleigh), North Carolina		100%	297	297	434	12,940	49,536	49,536		2008
17	Crabtree Towne Center	Raleigh, North Carolina		100%	256	256	19,319	19,318	108,385	108,385		2011
Total Eastern Region					828	826	28,091	43,890	201,244	201,244
	Total 17 proposed merchant build properties currently under development				3,633	2,213	$ 67,902	$ 140,497	$ 416,343	$ 469,811	8.8%
	Total 32 properties in various stages of development				8,652	4,230	$ 68,700	$ 271,468	$ 697,680	$ 907,915	9.1%
	* Unconsolidated Joint Venture
	O.B.O - Owned By Other
(1) Total Building Area square footage reflects 100% ownership including square feet that is owned by other. WRI's share of building area square footage reflects WRI's ownership percentage excluding square feet owned by other.

20

Weingarten Realty Investors
Total Operating Income at Prorata Share by Geographic Region (1)
(in thousands, except percentages)
		Three Months Ended March 31,							Twelve Months Ended December 31,
		2007	%		2006		%		2006		%		2005		%		2004	%		2003		%
Western Region
California	$	9,506	13.6	%	$ 9,338		14.8	%          $	38,437		15.1	%          $	36,715		15.4	%          $	32,188	15.3	%          $	26,178		14.7	%
Nevada		5,529	7.9	%	4,821		7.6	%	19,170		7.5	%	16,949		7.1	%	13,208	6.3	%	11,862		6.7	%
Arizona		3,341	4.8	%	2,500		4.0	%	10,232		4.0	%	9,926		4.2	%	8,648	4.1	%	8,038		4.5	%
Colorado		1,836	2.6	%	1,724		2.7	%	7,679		3.0	%	6,375		2.7	%	6,378	3.0	%	3,483		2.0	%
New Mexico		1,573	2.2	%	1,715		2.7	%	6,523		2.6	%	5,445		2.3	%	4,268	2.0	%	3,442		1.9	%
Utah		605	0.9	%	557		0.9	%	2,224		0.9	%	2,014		0.8	%	1,763	0.8	%	(2	)	0.0	%
Washington		272	0.4	%	(1	)	0.0	%	207		0.1	%	-		0.0	%	-	0.0	%	-		0.0	%
Oregon		90	0.1	%	-		0.0	%	34		0.0	%	-		0.0	%	-	0.0	%	-		0.0	%
Total Western Region		22,752	32.5%		20,654		32.7	%	84,506		33.2	%	77,424		32.5	%	66,453	31.5	%	53,001		29.8	%
Central Region
Texas	$	20,734	29.6	%          $	21,435		33.9	%          $	79,249		31.1	%          $	82,122		34.4	%         $	73,420	34.9	%          $	$ 75,289		42.3	%
Louisiana		2,050	2.9	%	1,648		2.6	%	7,144		2.8	%	8,673		3.6	%	12,023	5.7	%	6,640		3.7	%
Arkansas		560	0.8	%	522		0.8	%	2,183		0.9	%	3,481		1.5	%	1,823	0.9	%	1,288		0.7	%
Kansas		414	0.6	%	200		0.3	%	1,241		0.5	%	1,049		0.4	%	1,548	0.7	%	1,785		1.0	%
Missouri		327	0.5	%	319		0.5	%	1,238		0.5	%	1,334		0.6	%	1,383	0.7	%	1,425		0.8	%
Oklahoma		165	0.2	%	147		0.2	%	513		0.2	%	436		0.2	%	585	0.3	%	540		0.3	%
Mississippi		-	0.0	%	(24	)	0.0	%	(6	)	0.0	%	(1	)	0.0	%	-	0.0	%	(15	)	0.0	%
Illinois		-	0.0	%	-		0.0	%	-		0.0	%	-		0.0	%	-	0.0	%	-		0.0	%
Total Central Region		24,250	34.6	%	24,247		38.3	%	91,562		36.0	%	97,094		40.7	%	90,782	43.2	%	86,952		48.8	%
Eastern Region
Florida	$	12,045	17.1	%          $	9,753		15.4	%         $	41,807		16.3	%          $	34,013		14.2	%          $	30,224	14.4	%         $	$ 23,810		13.4	%
North Carolina		5,037	7.1	%	4,337		6.9	%	17,274		6.8	%	14,074		5.9	%	11,038	5.3	%	8,398		4.7	%
Georgia		3,724	5.3	%	1,965		3.1	%	9,923		3.9	%	8,042		3.4	%	5,868	2.8	%	2,097		1.2	%
Kentucky		1,131	1.6	%	931		1.5	%	4,112		1.6	%	3,440		1.4	%	1,507	0.7	%	-		0.0	%
Tennessee		1,091	1.6	%	1,279		2.0	%	5,069		2.0	%	4,312		1.8	%	3,949	1.9	%	3,358		1.9	%
Maine		60	0.1	%	51		0.1	%	224		0.1	%	350		0.1	%	318	0.2	%	409		0.2	%
South Carolina		48	0.1	%	13		0.0	%	154		0.1	%	-		0.0	%	-	0.0	%	-		0.0	%
Total Eastern Region		23,136	32.9	%	18,329		29.0	%	78,563		30.8	%	64,231		26.8	%	52,904	25.3	%	38,072		21.4	%
Total Operating Income	$	70,138	100.0	%      $	63,230		100.0	%        $	254,631		100.0	%        $	238,749		100.0	%        $	210,139	100.0	%        $	178,025		100.0	%
(1) The Operating Income at Prorata Share includes the real estate operations of joint ventures at WRI's ownership percentages ranging from 20% to 75% except for the operations of down-reit partnerships, which are included at
100% with the applicable minority interest. Prorata financial information is not, and is not intended to be, a presentation in accordance with generally accepted accounting principles.

21

Weingarten Realty Investors
Net Asset Value
(in thousands) except per share amount
Assumed Capitalization Rate		6.0%
Net Operating Income (1)	$	446,557
Market Value: Operating Properties		7,431,176
New Development (2)		613,854
Value of Outside Fee Income (3)		13,596
Value of Interest Income (4)		55,120
Value of Other Assets (5)		255,807
Gross Market Value of Assets		8,369,552
Debt Outstanding		(2,964,248)
Other Liabilities & Preferred Stock		(463,237)
Net Market Value of Assets		4,942,067
Weighted Average Shares Outstanding - Diluted		89,809
Net Asset Value per Share	$	55.03
Current Stock Price (close of business 4/22/2007)		$ 47.85
Price / Net Asset Value		87.0%
Stock Price Discount		-13.0%
Region		Weighted Cap Rate
Western Region		5.6%
Central Region		6.3%
Eastern Region		5.9%
(1) Projected 2007 stabilized/annualized net operating income adjusted for dispositions, new development property not yet stabilized and other real estate assests.  Includes prorata portion of joint venture net operating income.
(2) New developments are valued at the present value of the projected NOI upon completion, capped at 6.0% (assumed market value) less our investment in the development.
(3) Net of expenses at a 15x multiple
(4) Valued at a 20% cap rate
(5) Includes accrued rents, accounts/notes receivables, cash and cash equivalents, unimproved land, other prepaid expense and other assets, all at cost.
Note: This is a net asset value and not an enterprise value, as we have not placed a value on the "platform".

22

Weingarten Realty Investors
Property Listing at March 31, 2007
					Gross Leasable Area
					WRI
Center and Location	Anchors				Owned	J.V.	O.B.O	Total
Houston and Harris County, Total					5,960,000	184,000	660,000	6,804,000
Alabama-Shepherd, S. Shepherd at W. Alabama	Bookstop, PetsMart				56,000	0	0	56,000
Bayshore Plaza, Spencer Hwy. at Burke Rd.	Fitness Connections (O.B.O.)				36,000	0	86,000	122,000
Bellaire Boulevard, Bellaire at S. Rice	Randall’s +				35,000	0	0	35,000
Braeswood Square, N. Braeswood at Chimney Rock	Belden’s +, Walgreen’s				103,000	0	0	103,000
Centre at Post Oak, Westheimer at Post Oak Blvd.	Marshall’s, Barnes & Noble, Old Navy, Grand Lux Café, Comp USA				184,000	0	0	184,000
Champions Village, F.M. 1960 at Champions Forest Dr.	Randall’s, SteinMart, Palais Royal, Cost Plus, Barnes & Noble				408,000	0	0	408,000
Crestview, Bissonnet at Wilcrest	Creative Connection				9,000	0	0	9,000
Cullen Place, Cullen at Reed	C&R Beauty Supply				7,000	0	0	7,000
Cullen Plaza, Cullen at Wilmington	Fiesta +, Family Dollar, Beauty Empire				85,000	0	0	85,000
Cypress Pointe, F.M. 1960 at Cypress Station	Kroger +, Office Max, Comp USA, Babies “R” Us				191,000	0	97,000	288,000
Eastpark, Mesa Rd. at Tidwell	CVS/pharmacy, US Postal Service				113,000	0	0	113,000
Edgebrook, Edgebrook at Gulf Fwy.	Fiesta +, Bank One, Family Dollar				78,000	0	0	78,000
Fiesta Village, Quitman at Fulton	Fiesta +				30,000	0	0	30,000
Fondren/West Airport, Fondren at W. Airport	Save-A-Lot				62,000	0	0	62,000
Glenbrook Square, Telephone Road	Kroger +, Blockbuster				76,000	0	0	76,000
Griggs Road, Griggs at Cullen	Family Dollar, Modern City, Citi Trends				80,000	0	0	80,000
Harrisburg Plaza, Harrisburg at Wayside	Fallas Paredes				93,000	0	0	93,000
Heights Plaza, 20th St. at Yale	Kroger +, Walgreen’s				72,000	0	0	72,000
Humblewood Shopping Plaza, Eastex Fwy. at F.M. 1960	Kroger +,Conn’s, Walgreen’s				180,000	0	99,000	279,000
I-45/Telephone Rd. Center, I-45 at Maxwell Street	Seller Bros. +, Dollar Tree, FAMSA				164,000	0	0	164,000
Jacinto City, Market at Baca	Seller Bros. +, CVS/pharmacy	(1)			25,000	25,000	0	50,000
Landmark, Gessner at Harwin	Family Dollar				56,000	0	0	56,000
Lawndale, Lawndale at 75th St.	Family Dollar				54,000	0	0	54,000
Little York Plaza, Little York at E. Hardy	Seller Bros. +, Dollar General, American Way Thrift Stores				117,000	0	0	117,000
Lyons Avenue, Lyons at Shotwell	Fiesta +, Fallas Paredes				68,000	0	0	68,000
Market at Westchase, Westheimer at Wilcrest	Whole Foods Market				87,000	0	0	87,000
Northbrook Center, Northwest Fwy. at W. 34th	Randall’s +, Office Depot, Citi Trends, Anna’s Linens, Dollar Tree				174,000	0	0	174,000
North Main Square, Pecore at N. Main	O’Reilly Autoparts				19,000	0	0	19,000
North Oaks, F.M. 1960 at Veterans Memorial	T.J. Maxx, Ross Dress for Less, Big Lots, DSW, Half Price Books, Anna's Linens, Mardel's Christian Bookstore				425,000	0	0	425,000
North Triangle , I-45 at F.M. 1960	Steak & Ale, CiCi’s Pizza, James Coney Island				16,000	0	0	16,000
Northway, Northwest Fwy. at 34th	Conn’s, Academy, Office Max, Goodwill				209,000	0	0	209,000
Northwest Crossing, N.W. Fwy. at Hollister (75%)	Target (O.B.O.), Marshall’s, Babies “R” Us, Best Buy	(1)		(3)	134,000	45,000	120,000	299,000
Oak Forest, W. 43rd at Oak Forest	Kroger +, Palais Royal, Dollar Tree				164,000	0	0	164,000
Orchard Green, Gulfton at Renwick	Seller Bros. +, Family Dollar				74,000	0	0	74,000
Randall's /Cypress Station, F.M. 1960 at I-45	David’s Bridal, Randalls				141,000	0	0	141,000
Randall's /Kings Crossing, Kingwood Dr. at Lake Houston Pkwy.	Randall’s, CVS/pharmacy				128,000	0	0	128,000
Randall's /Norchester, Grant at Jones	Randall’s +				108,000	0	0	108,000
Richmond Square, Richmond Ave. at W. Loop 610	Best Buy (O.B.O.), Cost Plus				33,000	0	58,000	91,000
River Oaks East, W. Gray at Woodhead	Kroger +				71,000	0	0	71,000
River Oaks West, W. Gray at S. Shepherd	Talbot’s, JoS. A. Bank, Ann Taylor, Gap				235,000	0	0	235,000
Sheldon Forest North , North, I-10 at Sheldon	Family Dollar	(1)			22,000	0	0	22,000
Sheldon Forest South , North, I-10 at Sheldon	Gerland’s +, Burke’s Outlet	(1)			38,000	38,000	0	76,000
Shops at Three Corners, S. Main at Old Spanish Trail (70%)	Fiesta +, Office Depot, Big Lots, PetsMart, Ross Dress for Less, Anna’s Linens	(1)			176,000	76,000	0	252,000
Southgate, W. Fuqua at Hiram Clark	Food-A-Rama +, Palais Royal, CVS/pharmacy, Family Dollar				125,000	0	0	125,000
Spring Plaza, Hammerly at Campbell	Seller Bros., Family Dollar				56,000	0	0	56,000
Steeplechase, Jones Rd. at F.M. 1960	Palais Royal, 99 Cents Only, Anna's Linens, Goodwill Industries				193,000	0	100,000	293,000
Stella Link , Stella Link at S. Braeswood	Seller Bros.+, Spec’s Liquor Warehouse, Burke’s Outlet				68,000	0	0	68,000
Studemont, Studewood at E. 14th St	Fiesta +				28,000	0	0	28,000
Ten Blalock Square, I-10 at Blalock	Fiesta +				97,000	0	0	97,000
10/Federal, I-10 at Federal	Citi Trends, Palais Royal, Seller Bros. +				132,000	0	0	132,000
Village Arcade, University at Kirby	Gap, Talbot’s, Baby Gap				191,000	0	0	191,000
Westbury Triangle, Chimney Rock at W. Bellfort	99 Cents Only				67,000	0	0	67,000
Westchase Center, Westheimer at Wilcrest	Ross Dress for Less, Randall’s +, Golfsmith, Palais Royal, Target (O.B.O.), Petco				236,000	0	100,000	336,000
Westhill Village, Westheimer at Hillcroft	Ross Dress for Less, Office Depot, 99 Cents Only, Anna’s Linens				131,000	0	0	131,000
Texas (Excluding Houston & Harris Co.), Total					7,225,000	529,000	1,886,000	9,640,000
Bell Plaza, 45th Ave. at Bell St., Amarillo	United Supermarket +, Dollar Tree				129,000	0	0	129,000
Coronado, 34th St. at Wimberly Dr., Amarillo	Blockbuster				48,000	0	0	48,000
Puckett Plaza, Bell Road, Amarillo	Huneke Furniture, CVS/Pharmacy, Gold's Gym				133,000	0	0	133,000
Wolflin Village, Wolflin Ave. at Georgia St., Amarillo	Hastings, Talbot’s, Office Depot				193,000	0	0	193,000
Brodie Oaks, South Lamar Blvd. at Loop 360, Austin	Hobby Lobby (O.B.O.), Toys "R" Us (O.B.O.), Sun Harvest Foods +, Neiman Marcus Last Call				245,000	0	109,000	354,000
Calder, Calder at 24th St., Beaumont	Vacant				34,000	0	0	34,000
North Park Plaza, Eastex Fwy. at Dowlen, Beaumont	Target (O.B.O.), Anna’s Linens, Spec’s Liquor Warehouse, David’s Bridal, Toys “R” Us (O.B.O.)	(1)		(3)	70,000	70,000	98,000	238,000
Phelan West, Phelan at 23rd St., Beaumont (67%)	Kroger + (O.B.O.)	(1)		(3)	16,000	8,000	59,000	83,000
Phelan, Phelan at 23rd St, Beaumont	Vacant				12,000	0	0	12,000
Southgate, Calder Ave. at 6th St., Beaumont	Dollar General				34,000	0	0	34,000
Westmont, Dowlen at Phelan, Beaumont	Talbot’s, Ashley Furniture				98,000	0	0	98,000
North Towne Plaza, U.S. 77 and 83 at SHFM 802, Brownsville (75%)	Vacant		(2)		0	0	0	0
Gateway Station, I-35W and McAlister Rd., Burleson (70%)	Vacant	(1)	(2)		0	0	0	0
Lone Star Pavilions, Texas at Lincoln Ave., College Station	Best Buy, Office Depot, Barnes & Noble				107,000	0	0	107,000
Rock Prairie Marketplace, Rock Prairie Rd. at Hwy. 6, College Station	Vacant		(2)		0	0	0	0
Montgomery Plaza, Loop 336 West at I-45, Conroe	Academy, Conn’s, Goody’s, 99 Cents Only, Spec’s Liquor Warehouse, Petco, Anna's Linens				317,000	0	0	317,000
River Pointe, I-45 at Loop 336, Conroe	Kroger + (O.B.O), Incredible Pizza (O.B.O.)		(2)		45,000	0	145,000	190,000

23

Weingarten Realty Investors
Property Listing at March 31, 2007
					Gross Leasable Area
					WRI
Center and Location	Anchors				Owned	J.V.	O.B.O	Total
Texas (Excluding Houston & Harris Co.) Continued
Moore Plaza, S. Padre Island Dr. at Staples, Corpus Christi	Office Depot, Marshall’s, H. E. B. + (O.B.O),Target (O.B.O.), Circuit City, Old Navy, Linen’s N Things, Hobby Lobby				373,000	0	162,000	535,000
Portairs, Ayers St. at Horne Rd., Corpus Christi	CVS /pharmacy, Family Dollar, Beall’s				117,000	0	0	117,000
Shoppes at Deer Creek, FM 731 at FM 1137, Crowley	Albertsons + (O.B.O.)				23,000	0	52,000	75,000
Golden Beach Market Place, Golden Triangle Blvd. at N. Beach St., Ft. Worth	Albertsons + (O.B.O.)				31,000	0	52,000	83,000
Overton Park Plaza, SW Loop 820/Interstate 20 at South Hulen St., Ft. Worth	Sports Authority, Circuit City, PetsMart, Office Depot, T.J. Maxx, Albertsons +, Home Depot (O.B.O.), Anna’s Linens, Ashley Furniture				353,000	0	110,000	463,000
Southcliff, I-20 at Grandbury Rd., Ft. Worth	Jo-Ann’s Fabrics				116,000	0	0	116,000
Broadway , Broadway at 59th St., Galveston	Big Lots, Family Dollar				76,000	0	0	76,000
Galveston Place, Central City Blvd. at 61st St., Galveston	Randall’s +, Office Depot, Hastings, Palais Royal				210,000	0	0	210,000
Food King Place, 25th St. at Avenue P, Galveston	Arlan’s				28,000	0	0	28,000
Festival Plaza, Helotes, TX	Vacant		(2)		0	0	0	0
Killeen Marketplace, 3200 E. Central Texas Expressway, Killeen	Best Buy, Ross Dress for Less, Staples, Home Depot (O.B.O.)				115,000	0	136,000	251,000
Cedar Bayou, Bayou Rd., La Marque	Dollar General				15,000	0	31,000	46,000
North Creek Plaza, Del Mar Blvd. at Hwy. I-35, Laredo	Old Navy, Bed Bath & Beyond, Best Buy, Target (O.B.O.), H.E.B. + (O.B.O.), Marshall’s				245,000	0	206,000	451,000
Plantation Centre, Del Mar Blvd. at McPherson Rd., Laredo	H.E.B. +, Blockbuster				135,000	0	0	135,000
League City Plaza, I-45 at F.M. 518, League City	Kroger +, Spec’s Liquor Warehouse				127,000	0	0	127,000
Central Plaza, Loop 289 at Slide Rd., Lubbock	Bed Bath & Beyond, Old Navy, Staples				151,000	0	0	151,000
Northtown Plaza, 1st St. at University Plaza, Lubbock	United Supermarket +, Family Dollar				74,000	0	0	74,000
Town and Country, 4th St. at University, Lubbock	Hasting’s Records & Books				51,000	0	0	51,000
Angelina Village, Hwy. 59 at Loop 287, Lufkin	Randall’s +, Kmart, Clark’s, Ashley Furniture				257,000	0	0	257,000
Independence Plaza, Town East Blvd., Mesquite	Sack & Save +, Babies “R” Us				179,000	0	0	179,000
South 10th St. HEB, S. 10th St. at Houston St., McAllen	H.E.B. +	(1)		(3)	52,000	52,000	0	104,000
Las Tiendas Plaza, Expressway 83 at McColl Rd., McAllen	Target (O.B.O.), Mervyn’s (O.B.O.), Academy, Conn’s, Ross Dress for Less, Marshall’s, Office Depot	(1)		(3)	144,000	144,000	242,000	530,000
Market at Nolana, Nolana Ave and 29th St., McAllen	Vacant	(1)	(2)	(3)	0	0	0	0
Northcross, N. 10th St. at Nolana Loop, McAllen	Barnes & Noble, Blockbuster	(1)		(3)	38,000	38,000	0	76,000
Old Navy Building, 1815 10th Street, McAllen	Old Navy	(1)		(3)	8,000	8,000	0	16,000
Market at Sharyland Place, U.S. Expressway 83 and Shary Road, Mission	Vacant	(1)	(2)	(3)	0	0	0	0
Sharyland Towne Crossing, Shary Rd. at Hwy. 83, Mission	Target(O.B.O), H.E.B, TJ Maxx, Petco, Office Depot	(1)	(2)	(3)	81,000	81,000	0	162,000
North Sharyland Crossing, Shary Rd. at North Hwy. 83, Mission	Vacant	(1)	(2)	(3)	0	0	0	0
Custer Park, SWC Custer Road at Parker Road, Plano	Kroger + (O.B.O), Dollar General				116,000	0	65,000	181,000
Pitman Corners, Custer Road at West 15th, Plano	Albertsons +, Tuesday Morning				190,000	0	0	190,000
Gillham Circle, Gillham Circle at Thomas, Port Arthur	Family Dollar				33,000	0	0	33,000
Starr Plaza, U.S. Hwy. 83 at Bridge St., Rio Grande City	H.E.B.+, Beall’s, Dollar General	(1)	(2)	(3)	87,000	87,000	0	174,000
Rockwall, I-30 at Market Center Street, Rockwall	Office Max, Petco, Pier 1, Ross Dress for Less, Old Navy, Linens ‘N Things, Michael’s				209,000	0	0	209,000
Plaza, Ave. H at Eighth Street, Rosenberg	Burke’s Outlet, 99 Cents Only, CVS	(1)			41,000	41,000	0	82,000
Rose-Rich, U.S. Hwy. 90A at Lane Dr., Rosenberg	Family Dollar, Palais Royal				104,000	0	0	104,000
Lake Pointe Market Center, Dalrock Rd. at Lakeview Pkwy., Rowlett	Tom Thumb + (O.B.O.), Walgreen’s (O.B.O.)				38,000	0	81,000	119,000
Boswell Towne Center, Highway 287 at Bailey Boswell Rd., Saginaw	Albertsons + (O.B.O)				24,000	0	62,000	86,000
Fiesta Trails, I-10 at DeZavala Rd., San Antonio	H. E. B. (O.B.O), Target (O.B.O.), Barnes & Noble, Cost Plus, Regal Cinema, Marshall’s, Office Max, SteinMart, Petco, Anna’s Linens				312,000	0	176,000	488,000
Oak Park Village, Nacogdoches at New Braunfels, San Antonio	H. E. B.				66,000	0	0	66,000
Parliament Square, W. Ave. at Blanco, San Antonio	Incredible Pizza, Bernina New Home Sewing Center				120,000	0	0	120,000
Thousand Oaks, Thousand Oaks Dr. at Jones Maltsberger Rd., San Antonio	H. E. B., Beall’s, Tuesday Morning				163,000	0	0	163,000
Valley View, West Ave. at Blanco Rd., San Antonio	Marshall’s, Blockbuster, Dollar Tree				90,000	0	0	90,000
Westover Square, 151 and Ingram, San Antonio (67%)	Vacant	(1)	(2)		0	0	0	0
Westwood Center, Culebra Road and Westwood Loop, San Antonio	Vacant		(2)		0	0	0	0
First Colony Commons, Hwy. 59 at Williams Trace Blvd., Sugar Land	Babies “R” Us, Conn’s, Michael’s, Office Depot, Home Depot				410,000	0	0	410,000
Market at Town Center, Town Center Blvd., Sugar Land	Old Navy, Barnes & Noble, Marshall’s, Linens ‘N Things, DSW Shoe Warehouse, Ross Dress for Less, Lane Furniture				345,000	0	0	345,000
New Boston Road, New Boston at Summerhill, Texarkana	Rehkopf’s Grocery +, CVS/pharmacy, Salvation Army				97,000	0	0	97,000
Island Market Place, 6th St. at 9th Ave., Texas City	Food King				27,000	0	0	27,000
Palmer Plaza, F.M. 1764 at 34th St., Texas City	Randall’s +, Big Lots (O.B.O.), Dollar Tree				97,000	0	100,000	197,000
Tomball Marketplace, FM 2920 and Future 249, Tomball	Academy, Ltd. (O.B.O.)		(2)		0	0	0	0
Broadway, S. Broadway at W. 9th St., Tyler	SteinMart				60,000	0	0	60,000
Crossroads, I-10 at N. Main, Vidor	Market Basket +, Beall’s, Baskin’s, Burke’s Outlet				116,000	0	0	116,000
Florida, Total					4,891,000	1,618,000	784,000	7,293,000
Boca Lyons, Glades Rd. at Lyons Rd., Boca Raton	Ross Dress for Less, Ethan Allen				117,000	0	0	117,000
Sunset 19, US Hwy. 19 at Sunset Pointe Rd., Clearwater	Publix +, Bed Bath & Beyond, Staples, Comp USA, Barnes & Noble, Sports Authority, Old Navy				273,000	0	0	273,000
Embassy Lakes, Sheraton St. at Hiatus Rd., Cooper City	Winn Dixie +, Walgreen’s, Tuesday Morning				132,000	0	48,000	180,000
Shoppes at Paradise Isle, 34940 Emerald Coast Pkwy, Destin (25%)	Best Buy, Linens N' Things, Michaels, Office Depot, PetsMart	(1)		(3)	43,000	129,000	0	172,000
Hollywood Hills Plaza, Hollywood Blvd. at North Park Rd., Hollywood	Publix +, Target, CVS/pharmacy				365,000	0	0	365,000
Indian Harbour Place, East Eau Gallie Boulevard, Indian Harbour Beach (25%)	Beall's, Publix	(1)		(3)	41,000	123,000	0	164,000
Argyle Village, Blanding at Argyle Forest Blvd., Jacksonville	Bed Bath & Beyond, Publix +, T.J. Maxx, Babies “R” Us, Jo-Ann’s Fabrics				305,000	0	0	305,000
TJ Maxx Plaza, 117th Avenue at Sunset Blvd., Kendall	T.J. Maxx, Winn Dixie +				162,000	0	0	162,000
Largo Mall, Ulmerton Rd. at Seminole Ave., Largo	Beall’s Department Stores, Marshall’s, PetsMart, Bed Bath & Beyond, Staples, Michael’s, Target (O.B.O.), Albertsons + (O.B.O.)				378,000	0	198,000	576,000
Palm Lakes Plaza, Atlantic Boulevard and Rock Island Road, Maragate (20%)	Publix +, CVS/Pharmacy	(1)		(3)	23,000	91,000	0	114,000

24

Weingarten Realty Investors
Property Listing at March 31, 2007
					Gross Leasable Area
					WRI
Center and Location	Anchors				Owned	J.V.	O.B.O	Total
Florida Continued
Lake Washington Crossing, Wickham Rd. at Lake Washington Rd., Melbourne (25%)	Publix +, Beall’s Outlet Stores	(1)		(3)	30,000	89,000	0	119,000
Lake Washington Square, Wickham Rd. at Lake Washington Rd., Melbourne	Albertsons +				112,000	0	0	112,000
Kendall Corners, Kendall Drive and SW 127th Avenue, Miami (20%)	City Furniture	(1)		(3)	19,000	77,000	0	96,000
South Dade, South Dixie Highway and Eureka Drive, Miami (20%)	Publix +, Petco, Chuck E. Cheese, Bed Bath & Beyond	(1)		(3)	44,000	176,000	0	220,000
Tamiami Trail Shops, S.W. 8th St. at S.W. 137th Ave., Miami	Publix +, CVS/pharmacy				111,000	0	0	111,000
Northridge, E. Commercial Blvd. at Dixie Hwy., Oakland Park	Publix +, Petco, Ross Dress for Less, Anna's Linen				235,000	0	0	235,000
Colonial Plaza, E. Colonial Dr. at Primrose Dr., Orlando	Staples, Circuit City, Ross Dress for Less, Linens ‘N Things, Babies “R” Us, Marshall’s, Old Navy, SteinMart, Barnes & Noble, Petco				488,000	0	0	488,000
Colonial Landing, East Colonial Dr. at Maguire Boulevard, Orlando	Bed Bath & Beyond, Petsmart, Jo Ann Fabrics, Sports Authority	(1)	(2)		133,000	133,000	0	266,000
International Drive Value Center, International Drive and Touchstone Drive, Orlando (20%)	Bed Bath & Beyond, Ross, TJ Maxx, Old Navy	(1)		(3)	37,000	149,000	0	186,000
Market at Southside, Michigan Ave. at Delaney Ave., Orlando	Ross Dress for Less, Beall’s Outlet Stores, Dollar Tree, Albertsons + (O.B.O.)				97,000	0	65,000	162,000
Phillips Crossing, Interstate 4 and Sand Lake Road, Orlando	Whole Foods		(2)		0	0	0	0
Phillips Landing, Turkey Lake Rd., Orlando	Wal-Mart (O.B.O)		(2)		0	0	0	0
The Marketplace at Dr. Phillips, Dr. Phillips Boulevard and Sand Lake Road, Orlando (20%)	Albertsons +, Stein Mart, Office Depot, Home Goods	(1)		(3)	66,000	262,000	0	328,000
Westland Terrace Plaza, SR 50 at Apopka Vineland Rd., Orlando	T.J. Maxx, Petco, Shoe Carnival, Super Target + (O.B.O.)				68,000	0	183,000	251,000
Alafaya Square, Alafaya Trail, Oviedo (20%)	Publix +	(1)		(3)	35,000	141,000	0	176,000
University Palms, Alafaya Trail at McCullough Rd., Oviedo	Publix +, Blockbuster				99,000	0	0	99,000
East Lake Woodlands, East Lake Road and Tampa Road, Palm Harbor (20%)	Publix +, Walgreens	(1)		(3)	29,000	116,000	0	145,000
Shoppes at Parkland, Hillsboro Boulevard at State Road #7, Parkland	BJ's Wholesale Club				146,000	0	0	146,000
Flamingo Pines, Pines Blvd. at Flamingo Rd., Pembroke Pines	Publix +, U.S. Post Office, Keiser College				257,000	0	105,000	362,000
Pembroke Commons, University at Pines Blvd., Pembroke Pines	Publix +, Marshall’s, Office Depot, LA Fitness				316,000	0	0	316,000
Publix at Laguna Isles, Sheridan St. at SW 196th Ave., Pembroke Pines	Publix +				69,000	0	0	69,000
Vizcaya Square, Nob Hill Rd. at Cleary Blvd., Plantation	Winn Dixie +				108,000	0	0	108,000
Quesada Commons, Quesada Avenue and Toledo Blade Boulevard, Port Charlotte (25%)	Publix +	(1)		(3)	15,000	44,000	0	59,000
Shoppes of Port Charlotte, Toledo Blade Boulevard and Tamiami Trail, Port Charlotte (25%)	Petco	(1)		(3)	10,000	31,000	0	41,000
Marketplace at Seminole Towne Center, Central Florida Greenway and Rinehart Road, Sanford	Circuit City, Sports Authority, DSW, Marshalls, Old Navy, Linens 'N Things, Petco, Cost Plus, Target (O.B.O.)				309,000	0	185,000	494,000
Sunrise West Shopping Center, West Commercial Drive and NW 91st Avenue, Sunrise (25%)	Publix +	(1)			19,000	57,000	0	76,000
Venice Pines, Center Rd. at Jacaranda Blvd., Venice	Kash N Karry +				97,000	0	0	97,000
Winter Park Corners, Aloma Ave. at Lakemont Ave., Winter Park	Whole Foods Market +, Outback Steakhouse				103,000	0	0	103,000
California, Total					3,556,000	0	457,000	4,013,000
Jess Ranch Marketplace, Bear Valley Road at Jess Ranch Parkway, Apple Valley	Winco Foods (O.B.O.), Mervyns, Petsmart	(1)	(2)	(3)	0	0	0	0
Jess Ranch Phase III, Bear Valley Road at Jess Ranch Parkway, Apple Valley	Vacant	(1)	(2)	(3)	0	0	0	0
Centerwood Plaza, Lakewood Blvd. at Alondra Dr., Bellflower	Bestway Supermarket +, Hollywood Video				71,000	0	0	71,000
Southampton Center, IH-780 at Southampton Rd., Benecia	Raley’s +, Hollywood Video				162,000	0	0	162,000
580 Market Place, E. Castro Valley at Hwy. I-580, Castro Valley	P. W. Supermarkets +, PETCO				100,000	0	0	100,000
Chino Hills Marketplace, Chino Hills Pkwy. at Pipeline Ave., Chino Hills	Rite Aid, Von’s +, 24 Hour Fitness, Dollar Tree				320,000	0	0	320,000
Buena Vista Marketplace, Huntington Dr. at Buena Vista St., Duarte	Ralphs +				91,000	0	0	91,000
El Camino Promenade, El Camino Real at Via Molena, Encinitas	T.J. Maxx, Beverages & More, Staples				111,000	0	0	111,000
Freedom Centre, Freedom Blvd. At Airport Blvd., Watsonville	Rite Aide, Big Lots. Safeway				151,000	0	0	151,000
Fremont Gateway Plaza, Paseo Padre Pkwy. at Walnut Ave., Fremont	Raley’s +, NAZ Cinema, 24 Hour Fitness				195,000	0	0	195,000
Hallmark Town Center, W. Cleveland Ave. at Stephanie Ln., Madera	Food 4 Less + , Bally’s				85,000	0	0	85,000
Menifee Town Center, Antelope Rd. at Newport Rd., Menifee	Ralphs +, Target (O.B.O.), Ross Dress for Less				124,000	0	124,000	248,000
Marshalls Plaza, McHenry at Sylvan Ave., Modesto	Marshall’s, Dress Barn, Guitar Center				79,000	0	0	79,000
Prospectors Plaza, Missouri Flat Rd. at US Hwy. 50, Placerville	Albertsons +, Kmart, Long’s Drug Store				228,000	0	0	228,000
Shasta Crossroads, Churn Creek Rd. at Dana Dr., Redding	Food Maxx +, Target (O.B.O.), Sport Authority (O.B.O.), Ashley Furniture (O.B.O.)				121,000	0	131,000	252,000
Ralphs Redondo, Hawthorne Blvd. at 182nd St., Redondo Beach	Ralphs +				67,000	0	0	67,000
Arcade Square, Watt Ave. at Whitney Ave., Sacramento	Grocery Outlet +, Hollywood Video				76,000	0	0	76,000
Discovery Plaza, W. El Camino Ave. at Truxel Rd., Sacramento	Bel Air Market +, Blockbuster				93,000	0	0	93,000
Summerhill Plaza, Antelope Rd. at Lichen Dr., Sacramento	Raley’s +				134,000	0	0	134,000
Valley, Franklin Boulevard and Mack Road, Sacramento	Rayley's +, Hollywood Video (O.B.O.)				98,000	0	5,000	103,000
Silver Creek Plaza, E. Capital Expressway at Silver Creek Blvd., San Jose	Safeway +, Walgreen’s, Orchard Supply (O.B.O.)				131,000	0	65,000	196,000
Greenhouse Marketplace, Lewelling Blvd. at Washington Ave., San Leandro	Safeway + (O.B.O.), Longs Drug Stores (O.B.O.), Big Lots, 99 Cents Only, Factory 2 U				151,000	0	87,000	238,000
Rancho San Marcos Village, San Marcos Blvd. at Rancho Santa Fe Rd., San Marcos	Von’s + , 24 Hour Fitness				121,000	0	0	121,000
San Marcos Plaza, San Marcos Blvd. at Rancho Santa Fe Rd., San Marcos	Albertsons + (O.B.O.), Blockbuster				36,000	0	45,000	81,000
Stony Point Plaza, Stony Point Rd. at Hwy. 12, Santa Rosa	Food Maxx +, Hollywood Video				199,000	0	0	199,000
Sunset Center, Sunset Ave. at State Hwy. 12, Suisun City	Albertsons +, Rite Aid				85,000	0	0	85,000
Creekside Center, Alamo Dr. at Nut Creek Rd., Vacaville	Raley’s +, Blockbuster				116,000	0	0	116,000
Westminster Center, Westminster Blvd. at Golden West St., Westminster	Albertsons +, Home Depot, Edward’s Cinema, Rite Aid, Petco				411,000	0	0	411,000

25

Weingarten Realty Investors
Property Listing at March 31, 2007
					Gross Leasable Area
					WRI
Center and Location	Anchors				Owned	J.V.	O.B.O	Total
Louisiana, Total					1,792,000	400,000	866,000	3,058,000
Seigen Plaza, Siegen Lane at Honore Lane, Baton Rouge	Super Target + (O.B.O.), Ross Dress for Less, Conn’s, Petco				155,000	0	194,000	349,000
Park Terrace, U.S. Hwy. 171 at Parish, DeRidder	Stage, JC Penney				137,000	0	0	137,000
Town & Country Plaza, U.S. Hwy. 190 West, Hammond	Winn Dixie +, Office Depot, CVS/pharmacy, Goody’s, Books a Million				227,000	0	0	227,000
Manhattan Place, Manhattan Blvd. at Gretna Blvd., Harvey	Target (O.B.O.), Ross Dress for Less, Stage, K&G Fashion				133,000	0	125,000	258,000
Ambassador Plaza, Ambassador Caffery at W. Congress, Lafayette	Albertsons + (O.B.O.), Blockbuster				29,000	0	73,000	102,000
River Marketplace, Ambassador Caffery at Kaliste Saloom, Lafayette (20%)	Ross Dress for Less, Stage, Cost Plus, Super Target + (O.B.O.), Books A Million, Stage	(1)		(3)	34,000	134,000	175,000	343,000
Westwood Village, W. Congress at Bertrand, Lafayette	Stage, Graham Central Station, Blockbuster				141,000	0	0	141,000
Conn's Building, Ryan at 17th St., Lake Charles	Planet Pets				23,000	0	0	23,000
14/Park Plaza, Hwy. 14 at General Doolittle, Lake Charles	Kroger +, Stage, Conn’s				207,000	0	0	207,000
K-Mart Plaza, Ryan St., Lake Charles	Albertsons +, Kmart, Stage	(1)		(3)	105,000	105,000	0	210,000
Prien Lake Plaza, Prien Lake Rd. at Nelson Rd., Lake Charles	Target (O.B.O.), Marshall’s, Ross Dress for Less, Bed Bath & Beyond				127,000	0	125,000	252,000
Southgate, Ryan at Eddy, Lake Charles	Market Basket +, Office Depot, Books A Million				171,000	0	0	171,000
Orleans Station, Paris, Robert E. Lee at Chatham, New Orleans	Vacant				5,000	0	0	5,000
Danville Plaza, Louisville at 19th, Monroe	County Market +, Citi Trends, Surplus Warehouse				144,000	0	0	144,000
University Place, 70th St. at Youree Dr., Shreveport (20%)	Super Target + (O.B.O.), Best Buy, T.J. Maxx, CVS/pharmacy, Bed Bath & Beyond	(1)		(3)	41,000	161,000	174,000	376,000
Westwood, Jewella at Greenwood, Shreveport	Super 1 Grocery +, Citi Trends				113,000	0	0	113,000
Nevada, Total					2,751,000	122,000	626,000	3,499,000
Eastern Horizon, Eastern Ave. at Horizon Ridge Pkwy., Henderson	Kmart + (O.B.O.)				67,000	0	144,000	211,000
Best in the West, Rainbow at Lake Mead Rd., Las Vegas	Best Buy, Borders, Bed Bath & Beyond, Babies ‘R’ Us, DSW Shoes, Office Depot, Old Navy, PetsMart, Jo-Ann Stores, The Sports Authority				437,000	0	0	437,000
Charleston Commons, Charleston and Nellis, Las Vegas	Wal-Mart, Roos, Office Max, 99 Cents Only				338,000	0	0	338,000
Francisco Centre, E. Desert Inn Rd. at S. Eastern Ave., Las Vegas	Ross Dress for Less (O.B.O.), Sav-On Drug, La Bonita Grocery				116,000	0	32,000	148,000
Mission Center, Flamingo Rd. at Maryland Pkwy, Las Vegas	Sav-On Drug (O.B.O.), Albertsons + (O.B.O.), Toys “R” Us, T.J. Maxx				152,000	0	56,000	208,000
Paradise Marketplace, Flamingo Rd. at Sandhill, Las Vegas	Smith’s Food +, Dollar Tree				149,000	0	0	149,000
Rainbow Plaza, Rainbow Blvd. at Charleston Blvd., Las Vegas	Albertsons +, JC Penney, Ultimate Electronics, Home Depot, 24 Hour Fitness				410,000	0	0	410,000
Rancho Towne & Country, Rainbow Blvd. at Charleston Blvd., Las Vegas	Smith’s Food +				87,000	0	0	87,000
Tropicana Beltway, Tropicana Beltway at Fort Apache Rd., Las Vegas	Lowe’s (O.B.O.), Wal-Mart Supercenter + (O.B.O.), PetsMart, Office Depot, Ross Dress for Less, 99 Cent Only, Sports Authority, Pier 1 Imports	(1)		(3)	122,000	122,000	394,000	638,000
Tropicana Marketplace, Tropicana at Jones Blvd., Las Vegas	Smith’s Food +, Family Dollar				143,000	0	0	143,000
Westland Fair North, Charleston Blvd. At Decatur Blvd., Las Vegas	Wal-Mart Supercenter +, Lowe’s, PetsMart, Office Depot, Michaels				566,000	0	0	566,000
College Park S.C., E. Lake Mead Blvd. at Civic Ctr. Dr., North Las Vegas	Albertsons +, Sav-On Drug				164,000	0	0	164,000
North Carolina, Total					2,571,000	134,000	743,000	3,448,000
Capital Square, Capital Blvd. at Huntleigh Dr., Cary	Food Lion +				157,000	0	0	157,000
Harrison Pointe, Harrison Ave. at Maynard Rd., Cary	Harris Teeter +, Staples				124,000	0	0	124,000
High House Crossing, NC Hwy 55 at Green Level W. Rd., Cary	Harris Teeter +				90,000	0	0	90,000
Northwoods Market, Maynard Rd. at Harrison Ave., Cary	Food Lion +				78,000	0	0	78,000
Parkway Pointe, Cory Parkway at S. R. 1011, Cary	Food Lion +, Eckerd’s				80,000	0	0	80,000
Chatham Crossing, US 15/501 at Plaza Dr., Chapel Hill (25%)	Lowes Food +, CVS/Pharmacy	(1)		(3)	24,000	72,000	0	96,000
Cole Park Plaza, US 15/501 and Plaza Dr., Chapel Hill (25%)	Dollar General	(1)			20,000	62,000	0	82,000
Galleria, Galleria Boulevard and Sardis Road, Charlotte	Off Broadway Shoes				108,000	0	208,000	316,000
Johnston Road Plaza, Johnston Rd. at McMullen Creek Pkwy., Charlotte	Food Lion+				80,000	0	0	80,000
Steele Creek Crossing, York Rd. at Steele Creek Rd., Charlotte	BI-LO +, Eckerd’s				77,000	0	0	77,000
Whitehall Commons, NWC of Hwy. 49 at I-485, Charlotte	Blockbuster, Wal-Mart Supercenter + (O.B.O.), Lowes (O.B.O.), BI-LO + (O.B.O.)				33,000	0	403,000	436,000
Bull City Market, Broad St. at West Main St., Durham	Whole Foods Market +				43,000	0	0	43,000
Durham Festival, Hillsborough Rd. at LaSalle St., Durham	Kroger +				134,000	0	0	134,000
Mineral Springs Village, Mineral Springs Rd. at Wake Forest Rd., Durham	Food Lion +, Eckerd’s				58,000	0	0	58,000
Ravenstone Commons, Hwy 98 at Sherron Rd., Durham	Food Lion +, Blockbuster				60,000	0	0	60,000
Waterford Village, US Hwy 17 & US Hwy 74/76, Leland (75%)	Harris Teeter +	(1)	(2)		0	0	0	0
Pinecrest Plaza, Hwy. 15-501 at Morganton Rd., Pinehurst	Food Lion +, Michael’s, Goody’s, Belk’s				250,000	0	0	250,000
Avent Ferry, Avent Ferry Rd. at Gorman St., Raleigh	Food Lion +				117,000	0	0	117,000
Crabtree Towne Center , Creedmoor (Highway 50) and Crabtree Valley Avenue, Raleigh	Vacant		(2)		0	0	0	0
Falls Pointe, Neuce Rd. at Durant Rd., Raleigh	Harris Teeter +, Kohl’s (O.B.O.)				103,000	0	86,000	189,000
Leesville Town Centre, Leesville Rd. at Leesville Church Rd., Raleigh	Harris Teeter +				114,000	0	0	114,000
Lynnwood Collection, Creedmoor Rd at Lynn Road, Raleigh	Kroger +				86,000	0	0	86,000
Six Forks Station, Six Forks Rd. at Strickland Rd., Raleigh	Kmart, Home Depot, Food Lion +, Bed Bath & Beyond				468,000	0	0	468,000
Little Brier Creek, Little Brier Creek Lane and Brier Leaf Lane, Raliegh	Lowe's Food, (O.B.O.)				17,000	0	46,000	63,000
Stonehenge Market, Creedmoor Rd. at Bridgeport Dr., Raleigh	Harris Teeter +, SteinMart, Eckerd’s				188,000	0	0	188,000
Southern Pines, U.S. 15-501 and Bruce Wood Rd, Southern Pines	Vacant		(2)		0	0	0	0
Surf City Crossing, Highway 17 and Highway 210, Surf City	Vacant		(2)		0	0	0	0
Heritage Station, Forestville Rd. at Rogers Rd., Wake Forest	Harris Teeter +				62,000	0	0	62,000
The Shoppes at Caveness Farms, Capitol Boulevard and Caveness Farms Avenue, Wake Forest	Vacant		(2)		0	0	0	0
Arizona, Total					2,093,000	0	890,000	2,983,000
Palmilla Center, Dysart Rd. at McDowell Rd., Avondale	Office Max, PetsMart, Dollar Tree, Fry’s Supermarket + (O.B.O.)				104,000	0	66,000	170,000
Raintree Ranch, Ray Road at Price Road, Chandler	Whole Foods		(2)		0	0	60,000	60,000

26

Weingarten Realty Investors
Property Listing at March 31, 2007
					Gross Leasable Area
					WRI
Center and Location	Anchors				Owned	J.V.	O.B.O	Total
Arizona Continued
University Plaza, Plaza Way at Milton Rd., Flagstaff	PetsMart, Safeway +, Ross Dress for Less, Bed Bath & Beyond				162,000	0	0	162,000
Val Vista Towne Center, Warner at Val Vista Rd., Gilbert	Target (O.B.O.), Staples, Ross Dress for Less, Petco				93,000	0	123,000	216,000
Arrowhead Festival S.C., 75th Ave. at W. Bell Rd., Glendale	Borders (O.B.O.), Sports Authority (O.B.O.), Toys “R” Us (O.B.O.), Bed Bath & Beyond (O.B.O.)				30,000	0	147,000	177,000
Fry's Ellsworth Plaza, Broadway Rd. at Ellsworth Rd., Mesa	Fry’s Supermarket + (O.B.O.)				9,000	0	65,000	74,000
Monte Vista Village Center, Baseline Rd. at Ellsworth Rd., Mesa	Safeway + (O.B.O.)				46,000	0	58,000	104,000
Red Mountain Gateway, Power Rd. at McKellips Rd., Mesa	Target (O.B.O.), Bed Bath & Beyond, Famous Footwear				70,000	0	136,000	206,000
The Shoppes at Parkwood Ranch, Southern Avenue and Signal Butte Road, Mesa	Vacant		(2)		0	0	0	0
Camelback Village Square, Camelback at 7th Avenue, Phoenix	Fry’s Supermarket +, Target (O.B.O.), Office Max				135,000	0	100,000	235,000
Laveen Village Market, Baseline Rd. at 51st St., Phoenix	Fry’s Supermarket + (O.B.O.)		(2)		43,000	0	72,000	115,000
Rancho Encanto, 35th Avenue at Greenway Rd., Phoenix	Blockbuster				74,000	0	0	74,000
Squaw Peak Plaza, 16th Street at Glendale Ave., Phoenix	Basha's, Blockbuster				61,000	0	0	61,000
Fountain Plaza, 77th St. at McDowell, Scottsdale	Fry’s Supermarket +, Dollar Tree				105,000	0	0	105,000
Scottsdale Horizon, Frank Lloyd Wright Blvd and Thompson Peak Parkway, Scottsdale	Baja Fresh Mexican Grill				10,000	0	0	10,000
Fry's Valley Plaza, S. McClintock at E. Southern, Tempe	Basha’s +				145,000	0	0	145,000
Broadway Marketplace, Broadway at Rural, Tempe	Office Max, Ace Hardware				83,000	0	0	83,000
Pueblo Anozira, McClintock Dr. at Guadalupe Rd., Tempe	Fry’s Food & Drug +, Petco, Dollar Tree				152,000	0	0	152,000
Entrada de Oro, Magee Road and Oracle Road, Tucson	Walmart				89,000	0	20,000	109,000
Madera Village, Tanque Verde Rd. and Catalina Hwy, Tucson	Safeway, Walgreen's, Ace Hardware				97,000	0	11,000	108,000
Oracle Crossings, Oracle Highway and Magee Road, Tucson	Kohl's, Sprouts Farmers Market, Peter Piper Pizza				254,000	0	10,000	264,000
Oracle Wetmore, Wetmore Road and Oracle Highway, Tucson	Home Depot , Circuit City, PetSmart, Walgreens				287,000	0	0	287,000
Shoppes at Bears Path, Tanque Verde Rd. and Bear Canyon Rd., Tucson	Osco Drug (O.B.O.)				44,000	0	22,000	66,000
New Mexico, Total					1,076,000	0	397,000	1,473,000
Eastdale, Candelaria Rd. at Eubank Blvd., Albuquerque	Albertsons +, Family Dollar				118,000	0	0	118,000
North Towne Plaza, Academy Rd. at Wyoming Blvd., Albuquerque	Whole Foods Market +, Borders				103,000	0	0	103,000
Pavillions at San Mateo, I-40 at San Mateo, Albuquerque	Comp USA, Old Navy, Shoe Show, Circuit City, Linens ‘N Things				196,000	0	0	196,000
Plaza at Cottonwood, Coors Bypass Blvd. at Seven Bar Loop Rd., Albuquerque	Staples, PetsMart, Wal-Mart Supercenter +(O.B.O.), Home Depot (O.B.O.)				84,000	0	334,000	418,000
Wyoming Mall, Academy Rd. at Northeastern, Albuquerque	Walmart				326,000	0	0	326,000
De Vargas, N. Guadalupe at Paseo de Peralta, Santa Fe	Albertsons + (O.B.O.), Osco Drugs, Ross Dress for Less, Office Depot, Hastings, United Artists				249,000	0	63,000	312,000
Colorado, Total					1,023,000	782,000	953,000	2,758,000
Aurora City Place, E. Alameda at I225, Aurora	PetsMart, Sportsman Warehouse, Linens ‘N Things, Barnes & Noble, Comp USA, Ross Dress For Less, Super Target + (O.B.O.), Pier 1	(1)		(3)	173,000	173,000	182,000	528,000
Bridges at Smoky Hill, Smoky Hill Rd. at S. Picadilly St., Aurora	Rite Aid (O.B.O.)	(1)			10,000	10,000	39,000	59,000
Buckingham Square, Mississippi at Havana, Aurora	Vacant	(1)	(2)		0	0	0	0
Academy Place, Academy Blvd. at Union Blvd., Colorado Springs	Safeway (O.B.O.), Ross Dress For Less, Target (O.B.O.)				84,000	0	177,000	261,000
Uintah Gardens, NEC 19th St. at West Uintah, Colorado Springs	King Sooper’s, Walgreens, Petco				212,000	0	0	212,000
Green Valley Ranch Towne Center, Tower Rd. at 48th Ave., Denver	King Sooper’s + (O.B.O.)	(1)		(3)	23,000	23,000	58,000	104,000
Lowry Town Center, 2nd Ave. at Lowry Ave., Denver	Albertsons + (O.B.O.)	(1)		(3)	39,000	39,000	53,000	131,000
Gold Creek, Hwy. 86 at Elizabeth St., Elizabeth	Safeway + (O.B.O.)	(1)			13,000	13,000	54,000	80,000
CityCenter Englewood, S. Santa Fe at Hampden Ave., Englewood (51%)	Wal-Mart (O.B.O.), Ross Dress for Less, Gart Sports, Office Depot, Bally Total Fitness, Petco	(1)			111,000	106,000	90,000	307,000
Glenwood Meadows, Midland Ave. at W. Meadows, Glenwood Springs (41%)	Target (O.B.O.), Pier 1, Gart Sports, Bed Bath & Beyond, Petco, Lowe's	(1)	(2)	(3)	113,000	162,000	126,000	401,000
Highlands Ranch University Park, Highlands Ranch at University Blvd., Highlands Ranch (40%)	Whole Foods Market +	(1)		(3)	35,000	53,000	0	88,000
Crossing at Stonegate, Jordon Rd. at Lincoln Ave., Parker (51%)	King Sooper’s	(1)			56,000	53,000	0	109,000
River Point at Sheridan, Highway 77 and Highway 88, Sheridan	Vacant	(1)	(2)		0	0	0	0
Thorncreek Crossing, Washington St. at 120th St., Thornton (51%)	Target (O.B.O.), Barnes & Noble, Office Max, Michael’s, Pier 1, Cost Plus, Linens ‘N Things	(1)			108,000	104,000	174,000	386,000
Westminster Plaza, North Federal Blvd. at 72nd Ave., Westminster	Safeway + Walgreen (O.B.O.)	(1)			46,000	46,000	0	92,000
Kansas, Total					251,000	0	0	251,000
Shawnee Village, Shawnee Mission Pkwy. at Quivera Rd., Shawnee	Burlington Coat Factory				135,000	0	0	135,000
Kohl's, Wanamaker Rd. at S.W. 17th St., Topeka	Barnes & Noble, Kohl’s Department Store				116,000	0	0	116,000
Oklahoma, Total					174,000	0	0	174,000
Market Boulevard , E. Reno Ave. at N. Douglas Ave., Midwest City	Color Tyme				36,000	0	0	36,000
Town and Country, Reno Ave at North Air Depot, Midwest City	Office Depot, Big Lots, Westlake Hardware				138,000	0	0	138,000
Arkansas, Total					355,000	0	0	355,000
Markham Square, W. Markham at John Barrow, Little Rock	Burlington Coat Factory				127,000	0	0	127,000
Markham West, 11400 W. Markham, Little Rock	Office Depot, Michael’s, Academy, Bassett Furniture, Dollar Tree				178,000	0	0	178,000
Westgate, Cantrell at Bryant, Little Rock	SteinMart				50,000	0	0	50,000
Tennessee, Total					656,000	0	0	656,000
Bartlett Towne Center, Bartlett Blvd. at Stage Rd., Bartlett	Kroger +, Petco, Dollar Tree, Shoe Carnival				179,000	0	0	179,000
Mendenhall Commons, South Mendenahall Rd. and Sanderlin Avenue, Memphis	Kroger +, Petco, Dollar Tree, Shoe Carnival				80,000	0	0	80,000
Commons at Dexter Lake, Dexter at N. Germantown, Memphis	Kroger +, SteinMart, Marshall’s, Samuel's Furniture and Interior				229,000	0	0	229,000
Highland Square, Summer at Highland, Memphis	Walgreen’s				14,000	0	0	14,000
Ridgeway Trace, Memphis	Vacant		(2)		0	0	0	0
Summer Center, Summer Ave. at Waring Rd., Memphis	Kroger +, Ross Dress for Less				154,000	0	0	154,000

27

Weingarten Realty Investors
Property Listing at March 31, 2007
					Gross Leasable Area
					WRI
Center and Location	Anchors				Owned	J.V.	O.B.O	Total
Missouri, Total					231,000	28,000	0	259,000
Ballwin Plaza, Manchester Rd. at Vlasis Dr., Ballwin	Schnucks, Michael’s, Sears				203,000	0	0	203,000
Western Plaza, Hwy 141 at Hwy 30, Fenton	Big Lots	(1)		(3)	28,000	28,000	0	56,000
Georgia, Total					1,550,000	0	716,000	2,266,000
Lakeside Marketplace, Cobb Parkway (US Hwy 41), Acworth	Ross Dress for Less, Circuit City, Petco, Office Max, Books A Million, Target (O.B.O)				148,000	0	174,000	322,000
Camp Creek Marketplace II, Camp Creek Parkway and Carmla Drive, Atlanta	DSW, American Signature, Circuit City				196,000	0	0	196,000
Cherokee Plaza, Peachtree Road and Colonial Drive, Atlanta	Kroger +				99,000	0	0	99,000
Publix at Princeton Lakes, Carmia Drive and Camp Creek Drive, Atlanta	Publix +, Hollywood Video				68,000	0	0	68,000
Brookwood Square, East-West Connector at Austell Rd., Austell	Marshall’s, Staples, Home Depot				253,000	0	0	253,000
Dallas Commons, US Highway 278 and Nathan Dean Boulevard, Dallas	Kroger + (O.B.O.)				25,000	0	70,000	95,000
Reynolds Crossing, Steve Reynolds and Old North Cross Rd., Duluth	Kroger + (O.B.O.)				46,000	0	70,000	116,000
Thompson Bridge Commons, Thompson Bridge Rd. at Mt. Vernon Rd., Gainesville	Kroger +				78,000	0	0	78,000
Grayson Commons, Grayson Hwy at Rosebud Rd., Grayson	Kroger +				77,000	0	0	77,000
Village Shoppes of Sugarloaf, Sugarloaf Pkwy at Five Forks Trickum Rd., Lawrenceville	Publix +				148,000	0	0	148,000
Sandy Plains Exchange, Sandy Plains at Scufflegrit, Marietta	Publix +				73,000	0	0	73,000
Brownsville Commons, Brownsville Road and Hiram-Lithia Springs Road, Powder Springs	Kroger + (O.B.O.)				28,000	0	54,000	82,000
Roswell Corners, Woodstock Rd. at Hardscrabble Rd., Roswell	Staples, T.J. Maxx, Super Target + (O.B.O.)				145,000	0	174,000	319,000
Brookwood Marketplace, Peachtree Parkway at Mathis Airport Rd., Suwannee	Office Max, Home Depot, Target (O.B.O)				166,000	0	174,000	340,000
South Fulton Town Center, NWC South Fulton Parkway @ Hwy 92, Union City	Vacant	(1)	(2)		0	0	0	0
Utah, Total					292,000	45,000	296,000	633,000
Alpine Valley Center, Main St. at State St., American Fork (33%)	Target (O.B.O.), Old Navy, Pier 1, Dollar Tree, Office Depot	(1)		(3)	22,000	45,000	133,000	200,000
Taylorsville Town Center, West 4700 South at Redwood Rd., Taylorsville	Albertsons + (O.B.O.),Rite Aid				94,000	0	40,000	134,000
West Jordan Town Center, West 7000 South at S. Redwood Rd., West Jordan	Albertsons + , Office Depot, Target (O.B.O.), Petco, Party City				176,000	0	123,000	299,000
Illinois, Total					273,000	0	121,000	394,000
Lincoln Place, Hwy. 59, Fairview Heights	Lowe’s (O.B.O.), Kohl’s Department Store				103,000	0	121,000	224,000
Lincoln Place II, Route 159 at Hwy. 50, Fairview Heights	Office Depot, Marshall’s, Old Navy, Linens ‘N Things, Ultimate Electronics				170,000	0	0	170,000
Maine, Total					154,000	51,000	0	205,000
The Promenade, Essex at Summit, Lewiston (75%)	Staples, Flagship Cinemas	(1)			154,000	51,000	0	205,000
Kentucky, Total					607,000	0	76,000	683,000
Millpond Center, Boston at Man O’War, Lexington	Kroger +				117,000	0	27,000	144,000
Tates Creek, Tates Creek at Man O’ War, Lexington	Kroger +, Rite Aid				185,000	0	0	185,000
Regency Shopping Centre, Nicholasville Rd.& West Lowry Lane, Lexington	Kroger (O.B.O.) +, T.J. Maxx, Michaels				136,000	0	0	136,000
Festival at Jefferson Court, Outer Loop at Jefferson Blvd., Louisville	Kroger +, PetsMart (O.B.O.), Factory Card Outlet, AJ Wright (O.B.O.)				169,000	0	49,000	218,000
Washington, Total					87,000	332,000	198,000	617,000
Village at Liberty Lake, E. Country Vista Dr. at N. Liberty Rd., Liberty Lake	Home Depot (O.B.O)	(1)	(2)	(3)	5,000	5,000	133,000	143,000
Mukilteo Speedway Center, Mukilteo Speedway, Lincoln Way, and Highway 99, Lynnwood (20%)	Food Emporium, Bartell Drugs	(1)		(3)	18,000	72,000	0	90,000
Meridian Town Center, Meridian Avenue East and 132nd Street East, Puyallup (20%)	JoAnn's, Safeway + (O.B.O)	(1)		(3)	16,000	62,000	65,000	143,000
South Hill Center, 43rd Avenue Southwest and Meridian Street South, Puyallup (20%)	Best Buy, Bed Bath & Beyond, Ross	(1)		(3)	27,000	107,000	0	134,000
Rainer Square Plaza, Rainer Avenue South and South Charleston Street, Seattle (20%)	Safeway +, Long's Drugs	(1)		(3)	21,000	86,000	0	107,000
Oregon Total					23,000	92,000	62,000	177,000
Clackamas Square, SE 82nd Avenue and SE Causey Avenue, Portland (20%)	TJ Maxx, Winco Foods (O.B.O)	(1)		(3)	15,000	60,000	62,000	137,000
Raleigh Hills Plaza, SW Beaverton-Hillsdale Hwy and SW Scholls Ferry Road, Portland (20%)	Walgreens, New Seasons Market	(1)		(3)	8,000	32,000	0	40,000
South Carolina, Total					22,000	65,000	0	87,000
Fresh Market Shoppes, 890 William Hilton Head Pkwy, Hilton Head (25%)	The Fresh Market +	(1)		(3)	22,000	65,000	0	87,000
INDUSTRIAL
Houston and Harris County, Total					3,186,000	1,916,000	0	5,102,000
Beltway 8 Business Park, Beltway 8 at Petersham Dr.	Terminix, Carrier Sales and Distribution, Odwalla, Inc.				158,000	0	0	158,000
Blankenship Building, Kempwood Drive	Classic Printers				59,000	0	0	59,000
Brookhollow Business Center, Dacoma at Directors Row	Bristol Babcock, Harris County Appraisal District, Surgeon's Management				133,000	0	0	133,000
Central Park Northwest VI, Central Pkwy. at Dacoma	Houston Metallurgical Lab, Inc.				175,000	0	0	175,000
Central Park Northwest VII, Central Pkwy. at Dacoma	Lucent Technologies, Inc.				103,000	0	0	103,000
Claywood Industrial Park, Clay at Hollister	Academy, Ltd.				330,000	0	0	330,000
Crosspoint Warehouse, Crosspoint	Foam Enterprises, LLC.				73,000	0	0	73,000
Jester Plaza Office Service Center, West T.C. Jester	Corporate Care of Houston, Milwaukee Electric Tool Corporation				101,000	0	0	101,000

28

Weingarten Realty Investors
Property Listing at March 31, 2007
				Gross Leasable Area
				WRI
Center and Location	Anchors			Owned	J.V.	O.B.O	Total
Houston and Harris County Continued
Kempwood Industrial, Kempwood Dr. at Blankenship Dr.	Pioneer Contract Services			113,000	0	0	113,000
Kempwood Industrial, Kempwood Dr. at Blankenship Dr. (20%)	Pioneer Contract Services, Veritas	(1)	(3)	41,000	166,000	0	207,000
Lathrop Warehouse, Lathrop St. at Larimer St. (20%)	United D.C., Inc.	(1)	(3)	51,000	202,000	0	253,000
Navigation Business Park, Navigation at N. York (20%)	Packwell, Inc.	(1)	(3)	48,000	190,000	0	238,000
Northway Park II, Loop 610 East at Homestead (20%)	Jet Lube, Inc.	(1)	(3)	61,000	243,000	0	304,000
Railwood F, Market at U.S. 90 (20%)	Shell Oil Company	(1)	(3)	60,000	240,000	0	300,000
Railwood Industrial Park, Mesa at U.S. 90	SIG Southwest, Global Stainless Supply, Inc., Houston Central Industries, Inc., Smart Transportation Services			616,000	0	0	616,000
Railwood Industrial Park, Mesa at U.S. 90 (20%)	Bison Building Materials	(1)	(3)	100,000	398,000	0	498,000
South Loop Business Park, S. Loop at Long Dr.	Plastic Plus Awards, Lumber Liquidators	(1)	(3)	46,000	46,000	0	92,000
Southport Business Park 5, South Loop 610	International Surface Preparation Group, Inc., Sandvik, Inc.			161,000	0	0	161,000
Southwest Park II Service Center, Rockley Road	Bioassay Laboratory, Inc.			68,000	0	0	68,000
Stonecrest Business Center, Wilcrest at Fallstone	PYPSA International, Ltd; Aztec Facility Services, Inc.			111,000	0	0	111,000
West-10 Business Center, Wirt Rd. at I-10	Aaron’s Office Furniture, Computize, Inc.			129,000	0	0	129,000
West 10 Business Center II, Wirt Rd. at I-10	Summers Group, Inc.			83,000	0	0	83,000
Westgate Service Center, Park Row Drive at Whiteback Dr.	Welltec, Inc., Mobrey, Inc.			119,000	0	0	119,000
West Loop Commerce Center, W. Loop N. at I-10	Inter-Tel Technologies			34,000	0	0	34,000
610 and 11th St. Warehouse, Loop 610 at 11th St.	Prefco Corp.			105,000	0	0	105,000
610 and 11th St. Warehouse, Loop 610 at 11th St. (20%)	Iron Mountain, Stone Container	(1)	(3)	49,000	195,000	0	244,000
610/288 Business Park , Cannon Street (20%)	Packwell, Inc.	(1)	(3)	59,000	236,000	0	295,000
Texas (excluding Houston & Harris Co.), Total				3,879,000	0	0	3,879,000
Midpoint I-20 Distribution Center, New York Avenue and Arbrook Boulevard, Arlington	Airborne Express, INX International			253,000	0	0	253,000
Randol Mill Place, Randol Mill Road, Arlington	American Institute of Intradermal Cosmetics, Becker-Parkin Dental Supply Company, Inc.			55,000	0	0	55,000
Braker 2 Business Center, Kramer Ln. at Metric Blvd., Austin	Digital Transaction Group, Inc.			27,000	0	0	27,000
Corporate Center Park I and II, Putnam Dr. at Research Blvd., Austin	Phoenix - Lamar Corp, Apria Healthcare, Inc.			117,000	0	0	117,000
Oak Hills Industrial Park, Industrial Oaks Blvd., Austin	Terracon, Inc., Nanocoolers, Inc., Honeywell			90,000	0	0	90,000
Rutland 10 Business Center, Metric Blvd. At Centimeter Circle, Austin	Media Event Concepts, Inc., Technowood, Inc., Aramark			54,000	0	0	54,000
Southpark A,B,C, East St. Elmo Rd. at Woodward St., Austin	HJV Associates, Inc., EZ Corp, Inc.			78,000	0	0	78,000
Southpoint Service Center, Burleson at Promontory Point Dr., Austin	Browning Construction Co., Ltd., The Closet Factory			54,000	0	0	54,000
Wells Branch Corporate Center, Wells Branch Pkwy., Austin	RDA Promart, Allstate			59,000	0	0	59,000
1625 Diplomat Drive, SWC Diplomat Dr. at McDaniel Dr., Carrollton	Rooftop Systems, Inc.			106,000	0	0	106,000
Midway Business Center, Midway at Boyington, Carrollton	ProSource, Luxury of Leather			141,000	0	0	141,000
Manana Office Center, I-35 at Manana, Dallas	Omega Environmental Technologies, Dave & Busters, B&B Graphics Finishing Services			223,000	0	0	223,000
Newkirk Service Center, Newkirk near N.W. Hwy., Dallas	Tri-Ed Distribution, Inc., AWC			106,000	0	0	106,000
Northaven Business Center, Northaven Rd., Dallas	Dillon Gage, Quality Conservation Services, Inc.			151,000	0	0	151,000
Northeast Crossing Office/Service Center, East N.W. Hwy. at Shiloh, Dallas	Capital Title; Surgery Center of Garland, LLC			79,000	0	0	79,000
Northwest Crossing Office/Service Center, N.W. Hwy. at Walton Walker, Dallas	Corvette World			127,000	0	0	127,000
Redbird Distribution Center, Joseph Hardin Drive, Dallas	Consolidated Container Company; Texwood Industries, L.P.			111,000	0	0	111,000
Regal Distribution Center, Leston Avenue, Dallas	Document Management Systems, BKM Total Office of Texas, L.P., Global Industries Southwest			203,000	0	0	203,000
Space Center Industrial Park, Pulaski St. at Irving Blvd., Dallas	Weir’s Furniture Village, Furniture Marketing Group			265,000	0	0	265,000
McGraw Hill Distribution Center, 420 E. Danieldale Rd, DeSoto	McGraw Hill			418,000	0	0	418,000
Freeport Commerce Center, Sterling Street and Statesman Drive, Irving	McGraw Hill Companies, Inc., TKS (U.S.A.), Inc.			51,000	0	0	51,000
Central Plano Business Park, Klein Rd. at Plano Pkwy., Plano	CK Management, Inc., Minarik Corp.			138,000	0	0	138,000
Jupiter Service Center, Jupiter near Plano Pkwy., Plano	Interceramic Tile, Germaire Distributors			78,000	0	0	78,000
Sherman Plaza Business Park, Sherman at Phillips, Richardson	Leggett & Platt, Inc., The Volkswagen Store			101,000	0	0	101,000
Interwest Business Park, Alamo Downs Parkway, San Antonio	All-American Sports, PPG Industries, Janitrol			218,000	0	0	218,000
Isom Business Park, 919-981 Isom Road, San Antonio	Gandi Innovations, Wells Fargo Bank			175,000	0	0	175,000
O'Connor Road Business Park, O’Connor Road, San Antonio	Ingersoll Rand , TD Industries			150,000	0	0	150,000
Freeport Business Center, 13215 N. Promenade Blvd., Stafford	Fairfield Industries, Delphi Corporation, Gurtwitch Products			251,000	0	0	251,000
Georgia, Total				956,000	612,000	0	1,568,000
Atlanta Industrial Park II & VI, Atlanta Industrial Pkwy. at Atlanta Industrial Dr., Atlanta	Target Container Co., Sanderson Industries, Inc., Recall Secure Destruction			552,000	0	0	552,000
Sears Logistics, 3700 Southside Industrial Way, Atlanta (20%)	Sears Logistics Services, Inc.	(1)	(3)	81,000	322,000	0	403,000
Southside Industrial Parkway, Southside Industrial Pkwy at Jonesboro Rd., Atlanta	Lowe Supply, Inc., Mission Produce, Masco Contractor Services			72,000	0	0	72,000
Kennesaw 75, 3850-3900 Kennesaw Prkwy, Kennesaw	American Hotel Register Co., Clorox Services Company			178,000	0	0	178,000
6485 Crescent Drive, I-85 at Jimmy Carter Blvd., Norcross (20%)	Zurn, Pax Industries, Inc.	(1)	(3)	73,000	290,000	0	363,000
Tennessee, Total				685,000	457,000	0	1,142,000
Crowfarn Drive Warehouse, Crowfarn Dr. at Getwell Rd., Memphis (20%)	Joseph T. Ryerson & Son, Inc.	(1)	(3)	32,000	129,000	0	161,000
Outland Business Center, Outland Center Dr., Memphis (20%)	Vistar Corporation, TricorBraun, Quest Communications Corporation, Kuehne & Nagel, Inc.	(1)	(3)	82,000	328,000	0	410,000
Southpoint I & II, Pleasant Hill Rd. at Shelby Dr., Memphis	AF Services, Sunnywood Products, Inc., Constar			571,000	0	0	571,000
Florida, Total				1,664,000	0	0	1,664,000
Lakeland Industrial Center, I-4 at County Rd., Lakeland	Rooms to Go, Amware Pallet Services, Publix			600,000	0	0	600,000
Lakeland Interstate Industrial Park I, Interstate Drive and Kathleen Rd., Lakeland	Carolina Logistics Services, Inc., Acuity Specialty Products Group, Inc., Sunrise Medical HHG, Inc.			168,000	0	0	168,000
1801 Massaro, 1801 Massaro Blvd., Tampa	MiTek Industries, Inc., Parksite, Inc.			159,000	0	0	159,000
Hopewell Industrial Center, Old Hopewell Boulevard and U.S. Highway 301, Tampa	Parts Depot, Inc., American Tire Distributors			224,000	0	0	224,000
Tampa East Industrial Portfolio, 1841 Massaro Blvd., Tampa	General Electric, Hughes Supply, Interline Brands, GE Polymershapes			513,000	0	0	513,000

29

Weingarten Realty Investors
Property Listing at March 31, 2007
				Gross Leasable Area
				WRI
Center and Location	Anchors			Owned	J.V.	O.B.O	Total
California, Total				462,000	581,000	0	1,043,000
1725 Dornoch, Donroch Court, San Diego	Vacant			112,000	0	0	112,000
1855 Dornoch, Donroch Court, San Diego	Vacant			205,000	0	0	205,000
Siempre Viva Business Park, Siempre Viva Rd. at Kerns St., San Diego (20%)	Hitachi Transport, UPS Supply Chain Solutions, Inc., Bose Corp., New Wave Logistics (USA) Inc.	(1)	(3)	145,000	581,000	0	726,000
OFFICE BUILDINGS
Houston and Harris County, Total				140,000	0	0	140,000
1919 North Loop West, Hacket Drive at West Loop 610 North	State of Texas			140,000	0	0	140,000
Arizona, Total				24,000	0	0	24,000
Arcadia Biltmore Plaza, Campbell Ave. at North 36th St., Phoenix	Endurance Rehab			24,000	0	0	24,000
UNIMPROVED LAND
Houston & Harris County, Total				2,402,000			2,402,000
Bissonnet at Wilcrest				175,000			175,000
Citadel Plaza at 610 North Loop				137,000			137,000
East Orem				122,000			122,000
Kirkwood at Dashwood Drive				322,000			322,000
Mesa Road at Tidwell				901,000			901,000
Northwest Freeway at Gessner				422,000			422,000
Redman at West Denham				17,000			17,000
West Little York at Interstate 45				161,000			161,000
West Loop North at Interstate 10				145,000			145,000
Texas (excluding Houston & Harris Co.), Total				1,149,000			1,149,000
River Pointe Drive at Interstate 45, Conroe				618,000			618,000
NEC of US Hwy 380 & Hwy 75, McKinney				87,000			87,000
9th Ave. at 25th St., Port Arthur				243,000			243,000
Highway 3 at Highway 1765, Texas City				201,000			201,000
Louisiana, Total				462,000			462,000
U.S. Highway 171 at Parish, DeRidder				462,000			462,000
North Carolina, Total				1,750,000			1,750,000
The Shoppes at Caveness Farms				1,750,000			1,750,000

30

Weingarten Realty Investors
Property Listing at March 31, 2007
			NUMBER OF	WRI			TOTAL
ALL PROPERTIES-BY LOCATION			PROPERTIES	OWNED	J.V.	O.B.O.	SQ FTG
Grand Total			405	48,609,000	7,948,000	9,731,000	66,288,000
Texas (excluding Houston and Harris County)			96	11,104,000	529,000	1,886,000	13,519,000
Houston & Harris County			77	9,286,000	2,100,000	660,000	12,046,000
Florida			43	6,555,000	1,618,000	784,000	8,957,000
California			31	4,018,000	581,000	457,000	5,056,000
North Carolina			29	2,571,000	134,000	743,000	3,448,000
Louisiana			16	1,792,000	400,000	866,000	3,058,000
Arizona			24	2,117,000	0	890,000	3,007,000
Colorado			15	1,023,000	782,000	953,000	2,758,000
Georgia			20	2,506,000	612,000	716,000	3,834,000
Nevada			12	2,751,000	122,000	626,000	3,499,000
Tennessee			9	1,341,000	457,000	0	1,798,000
New Mexico			6	1,076,000	0	397,000	1,473,000
Oklahoma			2	174,000	0	0	174,000
Arkansas			3	355,000	0	0	355,000
Utah			3	292,000	45,000	296,000	633,000
Kentucky			4	607,000	0	76,000	683,000
Kansas			2	251,000	0	0	251,000
Missouri			2	231,000	28,000	0	259,000
Illinois			2	273,000	0	121,000	394,000
Maine			1	154,000	51,000	0	205,000
Washington			5	87,000	332,000	198,000	617,000
South Carolina			1	22,000	65,000	0	87,000
Oregon			2	23,000	92,000	62,000	177,000
ALL PROPERTIES-BY CLASSIFICATION
Grand Total			405	48,609,000	7,948,000	9,731,000	66,288,000
Shopping Centers			336	37,613,000	4,382,000	9,731,000	51,726,000
Industrial			67	10,832,000	3,566,000	0	14,398,000
Office Buildings			2	164,000	0	0	164,000
Notes:	(1)	Denotes partial ownership. WRI's interest is 50% except where noted. The square feet figures represent WRI's proportionate ownership of the property held by the joint venture or partnership.
	+	Denotes supermarket or discount store offering full service grocery along with general merchandise.
	(2)	Denotes property under development
	(3)	Denotes properties that are not consolidated for SEC reporting purposes.
Owned by Others ("O.B.O.") includes buildings owned entirely by another non-WRI legal entity

31