MORTGAGE AND OTHER NOTES PAYABLE
INCLUDING WEIGHTED INTEREST RATES AT DECEMBER 31, 2001
BENEFICIAL EFFECTIVE
100% INTEREST RATE (a)
------------------------------------------------------------------------------------------------------------
12/31/01 12/31/01 12/31/01 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 TOTAL
-------- -------- -------- ----- ----- ----- ----- ----- ----- ----- ----- ----- ----- -----
CONSOLIDATED FIXED RATE DEBT:
- -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
BEVERLY CENTER 146.0 146.0 8.36% 146.0 146.0
BILTMORE FASHION PARK 79.0 79.0 7.68% 0.8 0.8 0.9 1.0 1.1 1.2 1.2 72.0 79.0
MACARTHUR CENTER 143.6 100.5 7.59% 1.0 1.1 1.1 1.2 1.3 1.4 1.5 1.7 90.2 100.5
REGENCY SQUARE 82.4 82.4 6.75% 0.8 0.9 0.9 1.0 1.1 1.1 1.2 1.3 1.4 72.8 82.4
THE MALL AT SHORT HILLS 270.0 270.0 6.70% 1.9 3.0 3.2 3.5 3.7 4.0 4.2 246.4 270.0
OTHER 23.5 23.5 12.07% 1.8 0.3 0.3 0.3 0.4 0.4 0.1 20.0 0.0 0.0 23.5
---------------------------------------------------------------------------------------------------------------------------------------------------------
TOTAL CONSOLIDATED FIXED 744.5 701.4 7.47% 6.2 6.1 152.5 7.0 7.5 8.1 8.3 341.4 91.5 72.8 701.4
WEIGHTED RATE 7.14% 6.98% 8.30% 6.98% 6.98% 6.99% 7.01% 7.28% 7.58% 6.75%
CONSOLIDATED FLOATING RATE DEBT:
- --------------------------------
GREAT LAKES CROSSING 151.0 128.3 4.04% (c) 128.3 128.3 0.0
THE SHOPS AT WILLOW BEND 186.5 186.5 4.15% (d) 186.5 186.5
THE MALL AT WELLINGTON GREEN 124.3 111.9 4.47% (e) 111.9 111.9
TRG CREDIT FACILITY 12.0 12.0 3.20% (i) 12.0 12.0
TRG CREDIT FACILITY 205.0 205.0 3.10% (f) 205.0 205.0
---------------------------------------------------------------------------------------------------------------------------------------------------------
TOTAL CONSOLIDATED FLOATING 678.7 643.7 3.83% 140.3 186.5 316.9 643.7
WEIGHTED RATE 3.97% 4.15% 3.59%
TOTAL CONSOLIDATED 1,423.2 1,345.1 5.73% 146.5 192.6 469.4 7.0 7.5 8.1 8.3 341.4 91.5 72.8 1,345.1
WEIGHTED RATE 4.10% 4.24% 5.12% 6.98% 6.98% 6.99% 7.01% 7.28% 7.58% 6.75%
- -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
JOINT VENTURES FIXED RATE DEBT:
- -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
ARIZONA MILLS 36.84% 144.7 53.3 7.90% 0.4 0.5 0.5 0.6 0.6 0.6 0.7 0.8 48.7 53.3
CHERRY CREEK 50.00% 177.0 88.5 7.68% 0.5 1.3 86.7 88.6
FAIR OAKS 50.00% 140.0 70.0 6.60% 70.0 70.0
WESTFARMS 78.94% 100.0 78.9 7.85% 78.9 78.9
WOODLAND 50.00% 66.0 33.0 8.20% 33.0 33.0
---------------------------------------------------------------------------------------------------------------------------------------------------------
TOTAL JOINT VENTURE FIXED 627.7 323.8 7.58% 79.4 0.5 34.0 1.8 87.3 0.6 70.7 0.8 48.7 323.8
WEIGHTED RATE 7.85% 7.90% 8.19% 7.75% 7.68% 7.90% 6.61% 7.90% 7.90%
JOINT VENTURES FLOATING RATE DEBT:
- ----------------------------------
DOLPHIN MALL 50.00% 164.6 (b) 82.3 4.53% (g) 82.3 82.3
THE MALL AT MILLENIA 50.00% 56.5 28.3 4.04% (h) 28.3 28.3
STAMFORD TOWN CENTER 50.00% 76.0 38.0 2.70% (j) 38.0 38.0
INTERNATIONAL PLAZA 26.49% 171.6 45.4 4.37% (k) 45.4 45.4
WESTFARMS 78.94% 55.0 43.4 5.16% (l) 43.4 43.4
OTHER 2.7 1.6 4.75% (i) 0.5 0.5 0.4 0.2 0.0 1.6
---------------------------------------------------------------------------------------------------------------------------------------------------------
TOTAL JOINT VENTURE FLOATING 526.4 239.0 4.26% 209.7 28.7 0.4 0.2 0.0 239.0
WEIGHTED RATE 4.29% 4.05% 4.75% 4.75% 4.75%
TOTAL JOINT VENTURE 1,154.1 562.8 6.17% 289.0 29.2 34.4 2.0 87.4 0.6 70.7 0.8 48.7 562.8
WEIGHTED RATE 5.27% 4.11% 8.15% 7.49% 7.68% 7.90% 6.61% 7.90% 7.90%
- -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
TRG BENEFICIAL INTEREST TOTALS
- ------------------------------
FIXED RATE DEBT 1,025.2 7.50% 85.6 6.6 186.5 8.8 94.9 8.7 78.9 342.2 140.2 72.8 1,025.2
7.80% 7.04% 8.28% 7.14% 7.63% 7.05% 6.65% 7.28% 7.69% 6.75%
FLOATING RATE DEBT 882.7 3.95% 349.9 215.2 317.3 0.2 0.0 0.0 0.0 0.0 0.0 0.0 882.7
4.16% 4.14% 3.59% 4.75% 4.75%
TOTAL 1,907.9 5.86% 435.5 221.8 503.8 9.0 94.9 8.7 78.9 342.2 140.2 72.8 1,907.9
4.88% 4.22% 5.32% 7.09% 7.62% 7.05% 6.65% 7.28% 7.69% 6.75%
- -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Average Maturity 4.32
==========
(a) Does not include effect of amortization of debt issuance costs or interest rate hedging costs.
(b) As of 12//31/01, $200 M is swapped to an all-in rate of 8.14%. Because the swap does not qualify for hedge
accounting, changes in the fair value of the swap are recognized through earnings.
(c) LIBOR rate is locked to March 2002.
(d) LIBOR rate is locked to November 2002 on $182.4 M and floating month to month on the remainder.
(e) LIBOR rate is locked to October 2002 on $106.7 M and to November 2002 on the remainder.
(f) LIBOR rate is locked to November 2002 on $75 M, to February 2002 on $50 M and is floating monthly on $80 M.
(g) LIBOR rate is locked to October 2002.
(h) LIBOR rate is locked to May 2002 on $48.3 M and is floating month to month on the remainder.
(i) Rate floats daily.
(j) LIBOR rate is floating month to month.
(k) LIBOR rate is locked to October 2002 on $160.4 M, to May 2002 on $5.2 M and is floating month to month on the remainder.
(l) LIBOR rate is locked to July 2002.
