EXHIBIT 99.1
General Growth Properties, Inc.
Debt Maturity and Current Average Interest Rate Summary
As of December 31, 2004
(dollars in thousands)
Debt Maturity and Current Average Interest Rate Summary
As of December 31, 2004
(dollars in thousands)
| Wholly Owned | Unconsolidated | Company | ||||||||||||||||||||||||||
| Properties | Properties (b) | Portfolio | ||||||||||||||||||||||||||
| Current | Current | Current | ||||||||||||||||||||||||||
| Average | Average | Average | % of | |||||||||||||||||||||||||
| Maturing | Interest | Maturing | Interest | Maturing | Interest | Total | ||||||||||||||||||||||
| Year | Amount (a) | Rate (c) | Amount (a) | Rate (c) | Amount (a) | Rate (c) | Debt | |||||||||||||||||||||
| 2005 | $ | 1,576,645 | 4.47 | % | $ | 177,550 | 5.10 | % | $ | 1,754,195 | 4.53 | % | 7.63 | % | ||||||||||||||
| 2006 | 783,677 | 7.21 | % | 225,653 | 6.61 | % | 1,009,330 | 7.07 | % | 4.39 | % | |||||||||||||||||
| 2007 | 5,252,170 | 4.82 | % | 735,723 | 4.22 | % | 5,987,893 | 4.75 | % | 26.06 | % | |||||||||||||||||
| 2008 | 4,582,381 | 4.76 | % | 332,197 | 4.91 | % | 4,914,578 | 4.77 | % | 21.39 | % | |||||||||||||||||
| 2009 | 3,499,564 | 4.84 | % | 368,597 | 5.10 | % | 3,868,161 | 4.87 | % | 16.83 | % | |||||||||||||||||
| 2010 | 1,481,260 | 4.96 | % | 268,194 | 4.76 | % | 1,749,454 | 4.93 | % | 7.61 | % | |||||||||||||||||
| 2011 | 1,174,619 | 6.58 | % | 223,348 | 7.03 | % | 1,397,967 | 6.65 | % | 6.08 | % | |||||||||||||||||
| 2012 | 515,636 | 6.52 | % | 207,436 | 5.17 | % | 723,072 | 6.13 | % | 3.15 | % | |||||||||||||||||
| 2013 | 880,784 | 5.42 | % | 201,234 | 5.13 | % | 1,082,018 | 5.36 | % | 4.71 | % | |||||||||||||||||
| 2014 | 83,684 | 5.50 | % | 75,824 | 4.62 | % | 159,508 | 5.08 | % | 0.69 | % | |||||||||||||||||
| Subsequent | 315,427 | 7.32 | % | 19,531 | 7.34 | % | 334,958 | 7.32 | % | 1.46 | % | |||||||||||||||||
| Totals | $ | 20,145,847 | (d) | 5.10 | % | $ | 2,835,287 | 5.10 | % | $ | 22,981,134 | (d) | 5.10 | % | 100.00 | % | ||||||||||||
| Fixed Rate | 11,695,317 | 5.60 | % | 2,112,417 | 5.45 | % | 13,807,734 | 5.58 | % | 60.08 | % | |||||||||||||||||
| Variable Rate | 8,450,530 | 4.41 | % | 722,870 | 4.08 | % | 9,173,400 | 4.38 | % | 39.92 | % | |||||||||||||||||
| Totals | $ | 20,145,847 | (d) | 5.10 | % | $ | 2,835,287 | 5.10 | % | $ | 22,981,134 | (d) | 5.10 | % | 100.00 | % | ||||||||||||
Average Years to Maturity
| Fixed Rate Debt | 5.43 years | 5.26 years | 5.40 years | |||||||||
| Variable Rate Debt | 3.26 years | 3.64 years | 3.29 years | |||||||||
| All GGP Debt | 4.52 years | 4.78 years | 4.56 years | |||||||||
| (a) | Excludes principal amortization. | |||
| (b) | Unconsolidated Properties debt reflects the company’s share of debt relating to the properties owned by the Unconsolidated Properties. | |||
| (c) | For the variable rate loans, the interest rate reflected is the current variable contract rate as of December 31, 2004. | |||
| (d) | Reconciliation to GGP Consolidated GAAP debt | |||
| Consolidated | |||
| Wholly Owned debt, from above | $20,145,847 | ||
| Spokane Mall and Provo Mall minority interest ownership adjustment | 23,532 | ||
| Purchase accounting mark-to-market adjustment | 141,568 | ||
| GGP Consolidated GAAP debt | 20,310,947 | ||
1
General Growth Properties, Inc.
Summary of Outstanding Debt
As of December 31, 2004
(dollars in thousands)
2
General Growth Properties, Inc.
Summary of Outstanding Debt by Maturity Date at Share
Wholly Owned Properties
As of December 31, 2004
(dollars in thousands)
| FIXED RATE | ||||||||||||||||
| Loan | Maturity Date | Rate | Total Debt | Balance | ||||||||||||
CMBS | ||||||||||||||||
| GGP-MP Trust (b) | 11/15/06 | 5.37 | % | $ | 332,526 | $ | 332,526 | |||||||||
| 13 Affiliates (a) | 11/15/07 | 5.40 | % | 868,765 | 868,765 | |||||||||||
Secured Asset Loans | ||||||||||||||||
| Chico Mall | 03/11/05 | 7.00 | % | 30,600 | 30,600 | |||||||||||
| New Orleans Riverwalk | 11/01/05 | 9.94 | % | 1,200 | 1,200 | |||||||||||
| Arizona Center | 01/01/06 | 9.22 | % | 15,602 | 15,602 | |||||||||||
| Fashion Place | 01/01/06 | 7.27 | % | 64,870 | 64,870 | |||||||||||
| Oakwood Shopping Center | 01/01/06 | 8.41 | % | 49,615 | 49,615 | |||||||||||
| Chapel Hills | 02/15/06 | 6.88 | % | 34,324 | 34,324 | |||||||||||
| Grand Traverse | 02/15/06 | 6.88 | % | 48,101 | 48,101 | |||||||||||
| The Pines | 02/15/06 | 6.88 | % | 24,984 | 24,984 | |||||||||||
| Country Hills | 05/01/06 | 7.38 | % | 5,290 | 5,290 | |||||||||||
| Woodlands | 06/01/06 | 7.00 | % | 1,715 | 1,715 | |||||||||||
| Lakeview Square | 06/15/06 | 10.00 | % | 23,132 | 23,132 | |||||||||||
| Beachwood | 07/01/06 | 8.05 | % | 96,310 | 96,310 | |||||||||||
| 10190 Covington Cross Drive | 12/01/06 | 8.45 | % | 6,090 | 6,090 | |||||||||||
| Covington Ctr, Village Ctr, Town Ctr, Ctr Crossing | 12/01/06 | 8.45 | % | 25,456 | 25,456 | |||||||||||
| Augusta Mall | 02/01/07 | 8.13 | % | 50,006 | 50,006 | |||||||||||
| Columbia | 04/01/07 | 7.43 | % | 55,169 | 55,169 | |||||||||||
| Gwynn Falls | 04/01/07 | 7.95 | % | 16,835 | 16,835 | |||||||||||
| White Marsh | 12/01/07 | 7.91 | % | 73,545 | 73,545 | |||||||||||
| Columbia Development | 01/01/08 | 7.38 | % | 160,657 | 160,657 | |||||||||||
| Fashion Show | 01/01/08 | 3.79 | % | 380,000 | 380,000 | |||||||||||
| Harborplace | 01/01/08 | 8.16 | % | 30,545 | 30,545 | |||||||||||
| Mall St Vincent | 01/01/08 | 7.11 | % | 17,840 | 17,840 | |||||||||||
| Corporate Asset Debt | 02/01/08 | 9.00 | % | 41,468 | 41,468 | |||||||||||
| Provo Mall | 02/01/08 | 4.42 | % | 49,785 | 37,339 | |||||||||||
| Spokane Valley Mall | 02/01/08 | 4.42 | % | 41,168 | 30,876 | |||||||||||
| Owings Mills Land | 04/01/08 | 8.88 | % | 19,487 | 19,487 | |||||||||||
| Phoenix Theatre | 04/01/08 | 8.39 | % | 4,293 | 4,293 | |||||||||||
| Two Owings Mills | 04/01/08 | 7.03 | % | 14,902 | 14,902 | |||||||||||
| Mall St Matthews | 05/01/08 | 9.00 | % | 498 | 498 | |||||||||||
| Mayfair | 06/11/08 | 3.11 | % | 194,309 | 194,309 | |||||||||||
| Animas Valley | 07/01/08 | 3.56 | % | 27,016 | 27,016 | |||||||||||
| Grand Teton | 07/01/08 | 3.56 | % | 28,946 | 28,946 | |||||||||||
| Salem Center | 07/01/08 | 3.56 | % | 27,981 | 27,981 | |||||||||||
| Tucson Mall | 07/11/08 | 4.26 | % | 127,548 | 127,548 | |||||||||||
| Pioneer Place | 08/01/08 | 7.20 | % | 66,467 | 66,467 | |||||||||||
| Foothills | 09/01/08 | 6.63 | % | 44,997 | 44,997 | |||||||||||
| Northtown Mall | 09/01/08 | 6.68 | % | 78,274 | 78,274 | |||||||||||
| Pierre Bossier | 10/01/08 | 6.53 | % | 38,572 | 38,572 | |||||||||||
| Spring Hill | 10/01/08 | 6.60 | % | 84,576 | 84,576 | |||||||||||
| Bayside | 11/01/08 | 5.92 | % | 57,709 | 57,709 | |||||||||||
| Birchwood | 11/01/08 | 6.70 | % | 41,486 | 41,486 | |||||||||||
| Mall of the Bluffs | 11/01/08 | 6.70 | % | 41,486 | 41,486 | |||||||||||
| Oakwood | 11/01/08 | 6.70 | % | 55,315 | 55,315 | |||||||||||
| Southwest Plaza | 11/01/08 | 6.53 | % | 79,095 | 79,095 | |||||||||||
| Jordan Creek | 03/01/09 | 4.57 | % | 200,000 | 200,000 | |||||||||||
| Southland | 03/01/09 | 3.62 | % | 88,915 | 88,915 | |||||||||||
| Austin Bluffs | 04/01/09 | 4.40 | % | 2,577 | 2,577 | |||||||||||
| Division Crossing | 04/01/09 | 4.40 | % | 5,940 | 5,940 | |||||||||||
| Fort Union | 04/01/09 | 4.40 | % | 3,101 | 3,101 | |||||||||||
| Halsey Crossing | 04/01/09 | 4.40 | % | 2,907 | 2,907 | |||||||||||
| Center Street | 04/01/09 | 4.40 | % | 2,771 | 2,771 | |||||||||||
| State Street | 04/01/09 | 4.40 | % | 1,715 | 1,715 | |||||||||||
| Riverpointe | 04/01/09 | 4.40 | % | 4,293 | 4,293 | |||||||||||
| Riverside | 04/01/09 | 4.40 | % | 6,143 | 6,143 | |||||||||||
| (a) | The “13 Affiliates” CMBS pool is comprised of the following GGP properties: Colony Square Mall, Columbia Mall, Fallbrook Center, Fox River Mall, Fox River Plaza Mall, Marketplace Shopping Center, Rio West Mall, River Hills Mall, Sooner Fashion Mall, Southlake Mall, Westwood Mall, The Oaks Mall, and Westroads Mall. | |||
| (b) | The “GGP-MP Trust” CMBS pool is currently comprised of the following GGP properties: 110 N. Wacker Drive, Ala Moana Center, Piedmont Mall, Alderwood Mall, Montclair Plaza, Moreno Valley Mall, Superstition Springs, Tysons Galleria, Eastridge Mall, Landmark Mall, Northgate Mall, and Oglethorpe Mall. | |||
3
General Growth Properties, Inc.
Summary of Outstanding Debt by Maturity Date at Share
Wholly Owned Properties
As of December 31, 2004
(dollars in thousands)
| FIXED RATE | ||||||||||||||||
| Loan | Maturity Date | Rate | Total Debt | Balance | ||||||||||||
Secured Asset Loans Cont. | ||||||||||||||||
| Woodlands Village | 04/01/09 | 4.40 | % | $ | 7,849 | $ | 7,849 | |||||||||
| Prince Kuhio | 04/01/09 | 3.45 | % | 41,478 | 41,478 | |||||||||||
| Town East | 04/10/09 | 3.46 | % | 115,547 | 115,547 | |||||||||||
| Grand Canal Shoppes | 05/01/09 | 4.78 | % | 423,934 | 423,934 | |||||||||||
| Coastland | 06/01/09 | 6.56 | % | 104,279 | 104,279 | |||||||||||
| The Crossroads (MI) | 06/01/09 | 7.40 | % | 42,569 | 42,569 | |||||||||||
| Woodbridge | 06/01/09 | 4.24 | % | 225,000 | 225,000 | |||||||||||
| Pioneer Place | 07/10/09 | 7.10 | % | 58,919 | 58,919 | |||||||||||
| Apache | 08/01/09 | 7.00 | % | 53,388 | 53,388 | |||||||||||
| Corporate Asset Debt | 08/01/09 | 7.04 | % | 12,782 | 12,782 | |||||||||||
| Cumberland | 08/10/09 | 7.85 | % | 94,524 | 94,524 | |||||||||||
| Oakview | 10/01/09 | 7.71 | % | 78,519 | 78,519 | |||||||||||
| Baybrook | 11/01/09 | 6.54 | % | 157,972 | 157,972 | |||||||||||
| Coral Ridge | 11/01/09 | 6.08 | % | 106,406 | 106,406 | |||||||||||
| Governor’s Square | 12/01/09 | 7.66 | % | 64,336 | 64,336 | |||||||||||
| Lakeside Mall | 12/01/09 | 4.28 | % | 195,000 | 195,000 | |||||||||||
| Mall St Matthews | 01/01/10 | 4.81 | % | 155,000 | 155,000 | |||||||||||
| North Star | 01/01/10 | 4.43 | % | 251,000 | 251,000 | |||||||||||
| Ward Centre & Ward Entertainment | 01/01/10 | 4.33 | % | 63,000 | 63,000 | |||||||||||
| Park Place | 01/11/10 | 5.15 | % | 188,963 | 188,963 | |||||||||||
| Visalia | 01/11/10 | 3.78 | % | 47,331 | 47,331 | |||||||||||
| Lansing | 01/15/10 | 9.35 | % | 28,095 | 28,095 | |||||||||||
| Pecanland | 03/01/10 | 4.28 | % | 64,914 | 64,914 | |||||||||||
| West Valley | 04/01/10 | 3.43 | % | 64,598 | 64,598 | |||||||||||
| Pioneer Place | 04/27/10 | 10.00 | % | 1,672 | 1,672 | |||||||||||
| Regency Square | 07/01/10 | 3.59 | % | 103,239 | 103,239 | |||||||||||
| Boise Towne Plaza | 07/09/10 | 4.70 | % | 11,825 | 11,825 | |||||||||||
| Gateway Crossing | 07/09/10 | 4.70 | % | 16,495 | 16,495 | |||||||||||
| University Crossing | 07/09/10 | 4.70 | % | 12,315 | 12,315 | |||||||||||
| Crossroads Center (MN) | 08/01/10 | 4.73 | % | 90,760 | 90,760 | |||||||||||
| 70 Columbia Corporate Center | 10/01/10 | 10.15 | % | 20,429 | 20,429 | |||||||||||
| Park City | 10/01/10 | 5.19 | % | 160,414 | 160,414 | |||||||||||
| Staten Island | 10/01/10 | 6.55 | % | 163,058 | 163,058 | |||||||||||
| Westlake Center | 01/01/11 | 7.89 | % | 68,680 | 68,680 | |||||||||||
| Rogue Valley | 01/11/11 | 7.85 | % | 27,802 | 27,802 | |||||||||||
| Boise Mall | 02/09/11 | 6.64 | % | 75,674 | 75,674 | |||||||||||
| 10000 West Charleston | 03/01/11 | 7.88 | % | 23,139 | 23,139 | |||||||||||
| Capital | 04/01/11 | 7.28 | % | 21,519 | 21,519 | |||||||||||
| Eden Prairie | 04/01/11 | 4.67 | % | 86,145 | 86,145 | |||||||||||
| Gateway | 04/01/11 | 7.28 | % | 42,173 | 42,173 | |||||||||||
| Greenwood | 04/01/11 | 7.28 | % | 47,348 | 47,348 | |||||||||||
| Northridge Fashion | 07/01/11 | 7.24 | % | 134,787 | 134,787 | |||||||||||
| Rivertown | 07/01/11 | 7.54 | % | 125,511 | 125,511 | |||||||||||
| Willowbrook Mall | 07/01/11 | 6.82 | % | 168,707 | 168,707 | |||||||||||
| Collin Creek Mall | 07/10/11 | 6.78 | % | 71,376 | 71,376 | |||||||||||
| Bayshore | 09/01/11 | 7.13 | % | 33,101 | 33,101 | |||||||||||
| One Owings Mills | 12/01/11 | 8.50 | % | 7,656 | 7,656 | |||||||||||
| Eastridge (WY ) | 12/05/11 | 5.08 | % | 41,900 | 41,900 | |||||||||||
| Pine Ridge | 12/05/11 | 5.08 | % | 28,250 | 28,250 | |||||||||||
| Red Cliffs | 12/05/11 | 5.08 | % | 26,850 | 26,850 | |||||||||||
| Three Rivers | 12/05/11 | 5.08 | % | 23,000 | 23,000 | |||||||||||
| Hulen Mall | 12/07/11 | 5.03 | % | 121,000 | 121,000 | |||||||||||
| Valley Plaza | 07/11/12 | 3.90 | % | 104,368 | 104,368 | |||||||||||
| Corporate Point | 09/11/12 | 6.83 | % | 9,582 | 9,582 | |||||||||||
| Oxmoor | 06/01/13 | 6.85 | % | 60,037 | 60,037 | |||||||||||
| One Bank Plaza | 06/30/13 | 10.00 | % | 5,045 | 5,045 | |||||||||||
| Senate Plaza | 06/30/13 | 5.71 | % | 12,778 | 12,778 | |||||||||||
| 1180 Town Center Drive | 07/15/13 | 6.99 | % | 10,710 | 10,710 | |||||||||||
| The Boulevard | 08/01/13 | 4.27 | % | 117,251 | 117,251 | |||||||||||
| The Meadows | 08/01/13 | 5.45 | % | 110,092 | 110,092 | |||||||||||
| Four Seasons | 12/11/13 | 5.60 | % | 110,513 | 110,513 | |||||||||||
| Valley Hills | 03/05/14 | 4.73 | % | 61,325 | 61,325 | |||||||||||
| Beachwood Place | 06/01/14 | 9.00 | % | 12,324 | 12,324 | |||||||||||
| Bayside | 07/01/14 | 5.92 | % | 10,035 | 10,035 | |||||||||||
| Bellis Fair | 02/15/16 | 7.34 | % | 68,481 | 68,481 | |||||||||||
| New Orleans Riverwalk | 01/01/17 | 6.55 | % | 11,197 | 11,197 | |||||||||||
| Houston Land | 12/01/17 | 5.30 | % | 5,659 | 5,659 | |||||||||||
4
General Growth Properties, Inc.
Summary of Outstanding Debt by Maturity Date at Share
Wholly Owned Properties
As of December 31, 2004
(dollars in thousands)
| FIXED RATE | ||||||||||||||||
| Loan | Maturity Date | Rate (a) | Total Debt | Balance | ||||||||||||
Secured Asset Loans Cont. | ||||||||||||||||
| Baltimore Center Garage | 06/01/18 | 6.05 | % | $ | 21,105 | $ | 21,105 | |||||||||
| 10450 W. Charleston | 01/01/19 | 6.84 | % | 5,805 | 5,805 | |||||||||||
| Rouse Transportation | 03/01/19 | 7.92 | % | 3,550 | 3,550 | |||||||||||
| Houston Land | 12/01/21 | 5.30 | % | 988 | 988 | |||||||||||
| Providence Place | 07/01/28 | 7.75 | % | 50,536 | 50,536 | |||||||||||
| Baltimore Center | 12/01/30 | 7.89 | % | 68,152 | 68,152 | |||||||||||
| Houston Land | 05/01/31 | 5.30 | % | 20,617 | 20,617 | |||||||||||
| Provo Land | 08/01/95 | 10.00 | % | 3,000 | 3,000 | |||||||||||
Corporate Unsecured Debt | ||||||||||||||||
| Rouse Corporate Debt | 01/08/05 | 8.76 | % | 26,639 | 26,639 | |||||||||||
| Mall St Matthews | 01/31/05 | 5.80 | % | 398 | 398 | |||||||||||
| JP Realty Public Notes Series A | 03/11/05 | 7.29 | % | 25,000 | 25,000 | |||||||||||
| Rouse Public Indenture | 03/28/05 | 8.55 | % | 8,500 | 8,500 | |||||||||||
| Rouse Public Indenture | 04/27/05 | 8.43 | % | 15,000 | 15,000 | |||||||||||
| Rouse Public Indenture | 05/16/05 | 8.09 | % | 20,000 | 20,000 | |||||||||||
| Houston Land | 09/26/05 | 3.75 | % | 2,462 | 2,462 | |||||||||||
| JP Realty Public Notes Series B | 03/11/06 | 7.29 | % | 25,000 | 25,000 | |||||||||||
| JP Realty Public Notes Series C | 03/11/07 | 7.29 | % | 25,000 | 25,000 | |||||||||||
| Rouse Public Indenture | 03/13/07 | 8.78 | % | 1,000 | 1,000 | |||||||||||
| Rouse Public Indenture | 03/22/07 | 8.44 | % | 1,000 | 1,000 | |||||||||||
| JP Realty Public Notes Series D | 03/11/08 | 7.29 | % | 25,000 | 25,000 | |||||||||||
| Houston Land | 05/05/08 | 4.75 | % | 25,703 | 25,703 | |||||||||||
| Princeton Land | 07/01/08 | 3.00 | % | 28,000 | 28,000 | |||||||||||
| Rouse Corporate Debt | 11/30/08 | 6.94 | % | 58,000 | 58,000 | |||||||||||
| Owings Mills Land | 01/01/09 | 12.50 | % | 2,500 | 2,500 | |||||||||||
| Rouse Public Indenture | 03/15/09 | 3.63 | % | 398,950 | 398,950 | |||||||||||
| Rouse Public Indenture | 04/30/09 | 8.00 | % | 200,000 | 200,000 | |||||||||||
| Rouse Public Indenture | 09/15/12 | 7.20 | % | 399,604 | 399,604 | |||||||||||
| Rouse Public Indenture | 11/26/13 | 5.38 | % | 453,658 | 453,658 | |||||||||||
| New Orleans Riverwalk | 01/00/00 | 10.00 | % | 3 | 3 | |||||||||||
Swaps | ||||||||||||||||
| CMBS Swap | 02/15/05 | 4.10 | % | 250,000 | 250,000 | |||||||||||
| CMBS Swap | 02/15/06 | 4.59 | % | 100,000 | 100,000 | |||||||||||
| South Street Swap | 12/11/06 | 4.71 | % | 15,350 | 15,350 | |||||||||||
| Swapped Term Loan | 01/31/07 | 3.43 | % | 350,000 | 350,000 | |||||||||||
| CMBS Swap (b) | 02/15/07 | 4.59 | % | 25,000 | 25,000 | |||||||||||
Special Improvement Districts | ||||||||||||||||
| Other SID’s | 09/23/12 | 5.44 | % | 2,147 | 2,147 | |||||||||||
| SID (Summerlin) | 02/01/17 | 7.63 | % | 2,986 | 2,986 | |||||||||||
| SID (Summerlin) | 02/01/20 | 8.25 | % | 1,203 | 1,203 | |||||||||||
| SID (Summerlin) | 02/01/20 | 8.25 | % | 6,093 | 6,093 | |||||||||||
| SID (Summerlin) | 05/01/21 | 7.88 | % | 11,971 | 11,971 | |||||||||||
| SID (Summerlin) | 05/01/21 | 7.75 | % | 13,661 | 13,661 | |||||||||||
| SID (Summerlin) | 06/01/21 | 7.75 | % | 14,278 | 14,278 | |||||||||||
| SID (Summerlin) | 06/01/23 | 6.65 | % | 3,654 | 3,654 | |||||||||||
Total Wholly Owned Fixed Rate Debt | $ | 11,695,317 | ||||||||||||||
| VARIABLE RATE | ||||||||||||||||
| Loan | Maturity Date | Rate (a) | Total Debt | Balance | ||||||||||||
Secured Asset Loans | ||||||||||||||||
| Providence Place | 03/09/05 | 4.35 | % | $ | 240,000 | $ | 240,000 | |||||||||
| The Streets at Southpoint | 04/14/05 | 3.38 | % | 134,592 | 134,592 | |||||||||||
| Oviedo | 04/26/05 | 4.31 | % | 53,656 | 53,656 | |||||||||||
| Rouse Corporate Debt | 12/01/05 | 3.51 | % | 18,715 | 18,715 | |||||||||||
| La Cantera | 06/20/06 | 4.32 | % | 27,007 | 27,007 | |||||||||||
| Lansing | 07/21/06 | 3.74 | % | 40,000 | 40,000 | |||||||||||
| Paramus Park | 08/01/07 | 3.96 | % | 98,349 | 98,349 | |||||||||||
| Century Plaza | 10/01/07 | 3.43 | % | 30,800 | 30,800 | |||||||||||
| Eagle Ridge | 10/01/07 | 3.43 | % | 26,800 | 26,800 | |||||||||||
| Knollwood | 10/01/07 | 3.43 | % | 18,400 | 18,400 | |||||||||||
| Southland Mall | 11/08/07 | 3.35 | % | 56,500 | 56,500 | |||||||||||
(a) For the variable rate loans, the interest rate reflected is the current variable rate contract as of December 31, 2004.
5
General Growth Properties, Inc.
Summary of Outstanding Debt by Maturity Date at Share
Wholly Owned Properties
As of December 31, 2004
(dollars in thousands)
| VARIABLE RATE | ||||||||||||||||
| Loan | Maturity Date | Rate (a) | Total Debt | Balance | ||||||||||||
Secured Asset Loans Cont. | ||||||||||||||||
| Ridgedale | 11/09/07 | 3.24 | % | $ | 105,000 | $ | 105,000 | |||||||||
| Peachtree | 05/09/08 | 3.25 | % | 53,000 | 53,000 | |||||||||||
| Lynnhaven | 09/10/08 | 3.65 | % | 180,000 | 180,000 | |||||||||||
| St. Louis Galleria | 10/09/08 | 4.05 | % | 176,250 | 176,250 | |||||||||||
| Coronado | 10/11/08 | 3.37 | % | 101,250 | 101,250 | |||||||||||
| Sikes Senter | 11/09/08 | 3.10 | % | 41,500 | 41,500 | |||||||||||
| Maine | 11/14/08 | 3.66 | % | 162,000 | 162,000 | |||||||||||
| Glenbrook | 04/10/09 | 3.75 | % | 164,250 | 164,250 | |||||||||||
| Stonestown | 08/09/09 | 3.00 | % | 220,000 | 220,000 | |||||||||||
| Mall of Louisianna | 11/10/09 | 2.98 | % | 185,000 | 185,000 | |||||||||||
| Arizona Center | 03/01/10 | 4.28 | % | 9,450 | 9,450 | |||||||||||
| Crossroads Center (MN) Mezzanine | 08/01/10 | 5.24 | % | 28,701 | 28,701 | |||||||||||
| Houston Land | 06/01/33 | 5.75 | % | 2,489 | 2,489 | |||||||||||
Corporate Unsecured Debt | ||||||||||||||||
| GGPLP/GGPLPLLC Bridge Loan | 11/12/05 | 4.28 | % | 749,882 | 749,882 | |||||||||||
| Victoria Ward Limited | 12/15/06 | 3.62 | % | 90,000 | 90,000 | |||||||||||
| GGPLP/GGPLPLLC Revolver | 11/12/07 | 4.53 | % | 136,239 | 136,239 | |||||||||||
| GGPLP/GGPLPLLC Term A | 11/12/07 | 4.53 | % | 3,300,000 | 3,300,000 | |||||||||||
| GGPLP/GGPLPLLC Term B | 11/12/08 | 4.53 | % | 2,000,000 | 2,000,000 | |||||||||||
| Seaport Marketplace Theater | 11/30/13 | 3.92 | % | 700 | 700 | |||||||||||
Total Wholly Owned Variable Rate Debt | $ | 8,450,530 | ||||||||||||||
Total Wholly Owned Debt & Swaps | 5.10 | % | $ | 20,145,847 | ||||||||||||
(a) For the variable rate loans, the interest rate reflected is the current variable rate contract as of December 31, 2004.
(b) After the effect of interest rate swaps
6
General Growth Properties, Inc.
Summary of Outstanding Debt by Maturity Date at Share
Unconsolidated Properties
As of December 31, 2004
(dollars in thousands)
| FIXED RATE | ||||||||||||||||
| Loan | Maturity Date | Rate (b) | Total Debt | Balance | ||||||||||||
CMBS | ||||||||||||||||
| GGP-MP Trust (b) | 11/15/06 | 5.37 | % | $ | 226,049 | $ | 115,898 | |||||||||
| 13 Affiliates (a) | 11/15/07 | 5.13 | % | 138,635 | 70,704 | |||||||||||
Secured Asset Loans | ||||||||||||||||
| Silver City | 08/15/05 | 7.41 | % | 72,358 | 37,894 | |||||||||||
| Northpoint | 06/01/06 | 7.58 | % | 99,640 | 49,820 | |||||||||||
| The Woodlands | 12/01/06 | 7.90 | % | 60,751 | 30,376 | |||||||||||
| Park Meadows | 10/01/07 | 7.72 | % | 138,011 | 48,304 | |||||||||||
| Columbiana | 05/11/08 | 4.13 | % | 70,099 | 35,050 | |||||||||||
| Quail Springs | 06/01/08 | 6.82 | % | 41,624 | 20,812 | |||||||||||
| Neshaminy | 07/01/08 | 6.66 | % | 60,000 | 15,000 | |||||||||||
| Altamonte | 09/01/08 | 6.55 | % | 114,663 | 57,331 | |||||||||||
| Chula Vista | 10/01/08 | 4.12 | % | 63,740 | 31,870 | |||||||||||
| Towson Town Center | 11/10/08 | 6.75 | % | 137,627 | 48,169 | |||||||||||
| Deerbrook | 03/01/09 | 3.46 | % | 83,589 | 41,795 | |||||||||||
| Perimeter Shopping Center | 05/01/09 | 6.77 | % | 125,645 | 62,823 | |||||||||||
| Mizner Park | 07/01/09 | 4.84 | % | 61,638 | 30,819 | |||||||||||
| Steeplegate | 08/01/09 | 4.94 | % | 83,613 | 41,806 | |||||||||||
| The Parks at Arlington | 09/01/09 | 6.99 | % | 147,840 | 73,920 | |||||||||||
| Carolina Place | 01/11/10 | 4.60 | % | 169,000 | 84,500 | |||||||||||
| Christiana Mall | 08/01/10 | 4.61 | % | 120,000 | 60,000 | |||||||||||
| Water Tower Place | 09/01/10 | 4.97 | % | 184,677 | 101,573 | |||||||||||
| Newgate | 10/01/10 | 4.84 | % | 44,243 | 22,121 | |||||||||||
| Newpark | 02/01/11 | 7.45 | % | 72,291 | 36,146 | |||||||||||
| Willowbrook | 04/01/11 | 6.93 | % | 97,752 | 48,876 | |||||||||||
| Vista Ridge | 04/11/11 | 6.87 | % | 86,225 | 43,113 | |||||||||||
| Highland Mall | 07/10/11 | 6.83 | % | 68,513 | 34,256 | |||||||||||
| Northbrook Court | 09/01/11 | 7.15 | % | 94,588 | 47,294 | |||||||||||
| Arrowhead | 10/01/11 | 6.90 | % | 81,992 | 13,664 | |||||||||||
| Oakbrook | 10/01/12 | 5.12 | % | 232,576 | 117,474 | |||||||||||
| Stonebriar | 12/11/12 | 5.23 | % | 179,924 | 89,962 | |||||||||||
| Bridgewater Commons | 01/01/13 | 5.27 | % | 145,856 | 51,050 | |||||||||||
| Pembroke | 04/11/13 | 4.94 | % | 140,565 | 70,283 | |||||||||||
| West Oaks | 08/01/13 | 5.25 | % | 74,905 | 37,452 | |||||||||||
| Lakeland | 10/01/13 | 5.12 | % | 59,047 | 29,523 | |||||||||||
| Bay City | 12/01/13 | 5.30 | % | 25,853 | 12,926 | |||||||||||
| Washington Park | 04/01/14 | 5.35 | % | 12,939 | 6,469 | |||||||||||
| Brass Mill | 04/11/14 | 4.55 | % | 138,034 | 69,017 | |||||||||||
| CenterPointe Village | 01/01/17 | 6.31 | % | 14,489 | 7,244 | |||||||||||
| Trails Village Center | 07/10/23 | 8.21 | % | 17,949 | 8,974 | |||||||||||
| Lake Meade | 07/15/23 | 7.20 | % | 6,625 | 3,313 | |||||||||||
Corporate Unsecured Debt | ||||||||||||||||
| Park Meadows | 07/15/06 | 5.00 | % | 5,600 | 1,960 | |||||||||||
Swaps | ||||||||||||||||
| CMBS Swap | 02/15/05 | 4.10 | % | 175,000 | 87,500 | |||||||||||
| Riverchase Swap | 08/15/05 | 2.38 | % | 200,000 | 100,000 | |||||||||||
| CMBS Swap | 02/15/06 | 4.65 | % | 75,000 | 37,500 | |||||||||||
| CMBS Swap | 02/15/07 | 4.65 | % | 50,000 | 25,000 | |||||||||||
| Woodlands Swap | 11/30/07 | 4.74 | % | 100,000 | 52,500 | |||||||||||
Special Improvement Districts | ||||||||||||||||
| Other SID’s | 08/05/14 | 5.86 | % | 675 | 336 | |||||||||||
Total Unconsolidated Fixed Rate Debt | $ | 2,112,417 | ||||||||||||||
(a) The “13 Affiliates” CMBS pool is comprised of the following GGP properties: Colony Square Mall, Columbia Mall, Fallbrook Center, Fox River Mall, Fox River Plaza Mall, Marketplace Shopping Center, Rio West Mall, River Hills Mall, Sooner Fashion Mall, Southlake Mall, Westwood Mall, The Oaks Mall, and Westroads Mall.
(b) The “GGP-MP Trust” CMBS pool is currently comprised of the following GGP properties: 110 N. Wacker Drive, Ala Moana Center, Piedmont Mall, Alderwood Mall, Montclair Plaza, Moreno Valley Mall, Superstition Springs, Tysons Galleria, Eastridge Mall, Landmark Mall, Northgate Mall, and Oglethorpe Mall.
7
General Growth Properties, Inc.
Summary of Outstanding Debt by Maturity Date at Share
Unconsolidated Properties
As of December 31, 2004
(dollars in thousands)
| VARIABLE RATE | ||||||||||||||||
| Loan | Maturity Date | Rate (a) | Total Debt | Balance | ||||||||||||
Secured Asset Loans | ||||||||||||||||
| Woodlands | 07/01/05 | 3.75 | % | $ | 1,085 | $ | 570 | |||||||||
| Woodlands | 08/30/05 | 6.00 | % | 60,000 | 31,500 | |||||||||||
| Woodlands | 12/31/05 | 3.87 | % | 38,159 | 20,033 | |||||||||||
| Village of Merrick Park | 10/29/06 | 3.58 | % | 194,000 | 77,600 | |||||||||||
| Natick Mall | 01/10/07 | 2.96 | % | 160,497 | 125,565 | |||||||||||
| Galleria at Tyler | 09/02/07 | 3.10 | % | 94,500 | 49,490 | |||||||||||
| Clackamas | 09/09/07 | 3.33 | % | 95,000 | 49,752 | |||||||||||
| Kenwood Towne Centre | 09/10/07 | 3.10 | % | 144,722 | 75,791 | |||||||||||
| Woodlands | 11/01/07 | 6.00 | % | 3,489 | 1,832 | |||||||||||
| Glendale Galleria | 11/09/07 | 3.16 | % | 226,823 | 113,411 | |||||||||||
| Woodlands | 11/30/07 | 4.70 | % | 335,000 | 175,875 | |||||||||||
| Woodlands | 01/01/08 | 6.22 | % | 8,027 | 4,214 | |||||||||||
| Florence | 01/13/08 | 3.29 | % | 60,000 | 30,000 | |||||||||||
| First Colony | 06/01/08 | 3.20 | % | 67,000 | 33,500 | |||||||||||
| Buckland Hills | 10/12/08 | 3.20 | % | 112,500 | 56,250 | |||||||||||
| The Woodlands | 4.50 | % | 101 | 53 | ||||||||||||
Swaps | ||||||||||||||||
| Swap Adjustment (b) | (235,115 | ) | (122,566 | ) | ||||||||||||
Total Unconsolidated Variable Rate Debt | $ | 722,870 | ||||||||||||||
Total Unconsolidated Debt & Swaps | 5.10 | % | $ | 2,835,287 | ||||||||||||
Total Debt & Swaps | 5.10 | %(b)(c) | $ | 22,981,134 | ||||||||||||
(a) For the variable rate loans, the interest rate reflected is the current variable rate contract as of December 31, 2004.
(b) Before the effect of deferred financing fees. The inclusion of these fees in interest expense increases the effective interest rate by 6 basis points to 5.16%
(c) After the effect of interest rate swaps
8