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<PAGE> 1
Exhibit 99.1
[NPXL LOGO]
NEW PLAN EXCEL REALTY TRUST, INC.
-------------------------------------------------------------------------------
SUPPLEMENTAL DISCLOSURE
QUARTER ENDED SEPTEMBER 30, 2000
-------------------------------------------------------------------------------
Certain statements in this Supplemental Disclosure that are not historical
fact may constitute forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Such forward-looking
statements involve known and unknown risks, uncertainties and other factors
which may cause the actual results of the Company to differ materially from
historical results or from any results expressed or implied by such
forward-looking statements, including without limitation: national and local
economic conditions; the competitive environment in which the Company
operates: financing risks; property management risks; acquisition, development
and joint venture risks, including risks that developments and redevelopments
are not completed on time or on budget and strategies, actions and performance
of affiliates that the Company may not control; potential environmental and
other liabilities; and other factors affecting the real estate industry
generally. The Company refers you to the documents filed by the Company from
time to time with the Securities and Exchange Commission, specifically the
section titled "Business-Risk Factors" in the Company's Annual Report on Form
10-K for the year ended December 31, 1999, which discuss these and other
factors that could adversely affect the Company's results.
<PAGE> 2
NEW PLAN EXCEL REALTY TRUST, INC.
SUPPLEMENTAL DISCLOSURE - QUARTER ENDED SEPTEMBER 30, 2000
-------------------------------------------------------------------------------
TABLE OF CONTENTS
<TABLE>
<CAPTION>
PAGE
<S> <C>
COMPANY OVERVIEW / THIRD QUARTER REVIEW................................................................2
SHAREHOLDER INFORMATION................................................................................4
FINANCIAL REVIEW
Balance Sheets
CONSOLIDATED.........................................................................5
ERT Development Corporation..........................................................6
Income Statements
CONSOLIDATED.........................................................................7
ERT Development Corporation..........................................................8
Funds from Operations / Funds Available for Distribution .....................................9
Select Financial Ratios / Data ..............................................................10
Summary of Outstanding Debt .................................................................11
Debt Maturity Schedule.......................................................................13
ACTIVITY REVIEW
2000 Property Acquisitions...................................................................14
2000 Property Dispositions...................................................................15
Remodeling / Expansion Activities............................................................16
PORTFOLIO REVIEW
Property Type Summary........................................................................17
Properties by State / Region.................................................................18
Same Property NOI Analysis...................................................................19
Top Ten Tenants..............................................................................20
New Lease Summary............................................................................21
Lease Expiration Schedule ...................................................................22
Property Portfolio...........................................................................23
APPENDIX
Summary of ERT Development Corporation / NXL Joint Venture Projects..........................30
ERT Development Corporation Disposition Activity.............................................33
</TABLE>
<PAGE> 3
NEW PLAN EXCEL REALTY TRUST, INC.
SUPPLEMENTAL DISCLOSURE - QUARTER ENDED SEPTEMBER 30, 2000
-------------------------------------------------------------------------------
COMPANY OVERVIEW / THIRD QUARTER REVIEW PAGE 2
New Plan Excel Realty Trust, Inc. is one of the nation's largest real estate
companies, focusing on the ownership, management, acquisition, development and
redevelopment of community and neighborhood shopping centers and garden
apartment communities. The Company operates as a self-administered and
self-managed REIT, with a national portfolio of 347 properties and total
assets of approximately $3 billion. Its properties are strategically located
across 31 states and include 287 retail centers, primarily high-quality
supermarket or name-brand discount chain anchored, with approximately 37
million square feet of gross leasable area; 53 garden apartment communities
containing 12,558 units; and 7 commercial properties.
THIRD QUARTER REVIEW
- At the end of the third quarter, approximately 91 percent of the gross
leasable area (GLA) at the Company's retail and commercial properties was
leased. The average annual base rent (ABR) per leased square foot was
$7.78 at September 30, 2000. During the quarter, 58 new leases were
signed at an average ABR of $10.14 per square foot. Also during the
quarter, 63 renewal leases were signed at an average ABR of $10.31 per
square foot, an increase of approximately 11.8 percent over the expiring
leases. (The above data does not include Clearwater Mall, a property with
redevelopment plans under reevaluation.)
- At the end of the third quarter, the Company's garden apartment
communities were 91 percent leased. During the quarter, remodeling
commenced at four of the garden apartment communities, Devonshire Place,
located in Birmingham, Alabama; Tara, located in Athens, Georgia;
Goldcrest, located in Sharonville, Ohio; and Sedgefield, located in
Florence, South Carolina.
- During the third quarter, the Company completed the sale of four
properties for an aggregate of approximately $12 million. Properties
sold during the quarter include Wabash Valley Plaza, a 79,000 square foot
shopping center located in Terre Haute, Indiana; St. Mary's Plaza, a
108,000 square foot shopping center located in St. Mary's, Pennsylvania;
a 34,000 square foot single tenant Kroger located in Pittsburgh,
Pennsylvania; and a 5,000 square foot single tenant Kindercare located in
Fenton, Missouri. In total, nine properties were sold during the first
nine months of 2000 for an aggregate of approximately $51 million,
including five shopping centers, three single tenant properties and the
Home Depot store site at The Mall at 163rd Street, an ERT Development
Corporation (ERT) property.
- On July 10, 2000, the Company announced that it has commenced the
implementation of several technology initiatives in conjunction with
Storetrax.com, a Web-based listing service for retail properties;
Eversave.com, an online source for tenant and consumer communications;
and AAT Communications Corporation, a wireless communications site
provider.
- On September 26, 2000, the Company announced the appointment of Leonard
I. Brumberg as Executive Vice President - Retail. In this newly created
position, Mr. Brumberg will have primary responsibility for the
operation, leasing and management of the Company's retail properties.
<PAGE> 4
NEW PLAN EXCEL REALTY TRUST, INC.
SUPPLEMENTAL DISCLOSURE - QUARTER ENDED SEPTEMBER 30, 2000
-------------------------------------------------------------------------------
COMPANY OVERVIEW / THIRD QUARTER REVIEW PAGE 3
SUBSEQUENT EVENTS
- On October 2, 2000, ERT, the Company's development affiliate, executed
agreements with Wilton Partners, one of its joint venture partners, with
respect to various projects. Specifically, (i) note receivables on Miami
Gardens, Meadows Tampa and the Wilton Line of Credit were paid off in full;
(ii) ERT acquired ownership to Annie Land Plaza and New Market Shopping
Center; (iii) ERT received the right to acquire in January 2001 Colonnades
West Shopping Center, subject however to the rights of a third party to
acquire the property prior to 2001; and (iv) Wilton relinquished all of its
management, development and ownership interests and rights in and to
Clearwater Mall and The Mall at 163rd Street.
- On October 11, 2000, the Company entered into a two-year swap agreement
with Fleet National Bank relating to $125 million of the Company's variable
rate debt. The agreement effectively fixes the debt at a base rate of 6.67
percent plus applicable spreads associated with the Company's variable rate
credit facilities.
- On October 12, 2000, the Company acquired the 10.4 acre Burdine's site at
Clearwater Mall in Clearwater, Florida for approximately $4.8 million.
- On November 3, 2000, the Company extended the maturity on its $122.5
million unsecured senior revolving credit facility for one year to November
2001. The extended facility bears interest at its original terms of LIBOR
plus 72.5 basis points.
<PAGE> 5
NEW PLAN EXCEL REALTY TRUST, INC.
SUPPLEMENTAL DISCLOSURE - QUARTER ENDED SEPTEMBER 30, 2000
-------------------------------------------------------------------------------
SHAREHOLDER INFORMATION PAGE 4
CORPORATE HEADQUARTERS
New Plan Excel Realty Trust, Inc.
1120 Avenue of the Americas
New York, NY 10036
Phone: 212-869-3000
Fax: 212-869-3989
www.newplanexcel.com
EXCHANGE LISTING
New York Stock Exchange
Common stock: NXL
Series A preferred stock: NXLprA
Series B preferred stock: NXLprB
SENIOR UNSECURED DEBT RATINGS
Standard & Poor's: BBB+
Moody's: Baa1
QUARTERLY RESULTS
The Company expects to announce quarterly results as follows:
Fourth quarter and Year-end 2000: March 2001
First quarter 2001: May 2001
TRANSFER AGENT AND REGISTRAR
Questions about dividend payments, shareholder accounts, replacement or lost
certificates, stock transfers and name or address changes should be directed
to:
BankBoston, N.A.
c/o EquiServe, L.P.
P.O. Box 8040
Boston, MA 02266-8040
Phone: 800-730-6001
www.equiserve.com
CORPORATE COMMUNICATIONS DEPARTMENT
Shareholders seeking financial and operating information may contact:
Stacy Lipschitz
Director of Corporate Communications
Phone: 212-869-3000
Fax: 212-869-3989
E-mail: [email protected]
[email protected]
<PAGE> 6
NEW PLAN EXCEL REALTY TRUST, INC.
SUPPLEMENTAL DISCLOSURE - QUARTER ENDED SEPTEMBER 30, 2000
--------------------------------------------------------------------------------
BALANCE SHEETS - CONSOLIDATED PAGE 5
(IN THOUSANDS)
<TABLE>
<CAPTION>
As Of
------------------------------------------------------
9/30/00 6/30/00 3/31/00 12/31/99
------------ ------------ ------------ ------------
<S> <C> <C> <C> <C>
ASSETS:
Land $ 531,837 $ 547,386 $ 552,411 $ 552,146
Buildings and improvements 2,262,851 2,240,435 2,311,499 2,328,499
Less: accumulated depreciation and amortization (256,582) (241,735) (229,218) (216,274)
------------ ------------ ------------ ------------
Net real estate 2,538,106 2,546,086 2,634,692 2,664,371
Real estate held for sale 62,824 70,135 21,634 -
Cash and cash equivalents 9,801 13,678 19,207 10,834
Marketable securities 1,419 1,426 1,310 1,190
Receivables
Trade and notes, net of allowance for 33,620 34,880 30,907 30,225
doubtful accounts of (September 30, 2000-
$13,842, June 30, 2000- $14,357, March 31, 2000-
$13,532, December 31, 1999- $13,897)
Other 23,160 22,402 20,870 15,825
Mortgages and notes receivable 59,182 59,585 60,198 59,142
Prepaid expenses and deferred charges 14,183 12,889 15,527 13,076
Investment in and loans to ERT Development Corporation 173,990 170,391 157,220 150,432
Other assets (1) 8,634 7,407 6,987 8,046
------------ ------------ ------------ ------------
TOTAL ASSETS $ 2,924,919 $ 2,938,879 $ 2,968,552 $ 2,953,141
============ ============ ============ ============
Liabilities:
Mortgages payable, including unamortized premium of $ 336,748 $ 338,988 $ 331,906 $ 341,643
(September 30, 2000- $8,110, June 30, 2000-
$8,457, March 31, 2000- $9,565, December 31, 1999-
$9,921)
Notes payable, net of unamortized discount of 612,928 622,864 662,800 662,736
(September 30, 2000- $2,072, June 30, 2000- $2,136,
March 31, 2000- $2,200, December 31, 1999- $2,264)
Credit facilities 238,721 238,721 230,721 188,721
Capital leases 27,351 27,351 27,351 27,351
Other liabilities (2) 94,420 86,415 85,577 88,591
Tenant security deposits 7,851 7,789 7,681 7,480
------------ ------------ ------------ ------------
TOTAL LIABILITIES 1,318,019 1,322,128 1,346,036 1,316,522
Minority interest in partnership: 24,244 24,505 24,802 25,100
------------ ------------ ------------ ------------
Stockholders' equity:
Preferred stock 23 23 23 23
Common stock 876 876 876 875
Additional paid-in capital 1,708,825 1,708,825 1,708,825 1,708,186
Add: unrealized gain on securities reported at fair value 443 450 334 214
Less: accumulated distributions in excess of net income (127,511) (117,928) (112,344) (97,779)
------------ ------------ ------------ ------------
TOTAL STOCKHOLDERS' EQUITY 1,582,656 1,592,246 1,597,714 1,611,519
------------ ------------ ------------ ------------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 2,924,919 $ 2,938,879 $ 2,968,552 $ 2,953,141
============ ============ ============ ============
</TABLE>
(1) Other assets includes: deposits, real estate tax escrow and fixed assets.
(2) Other liabilities includes: amounts payable for dividends, real estate
taxes, interest, payroll and normal vendor payables.
The above does not purport to disclose all items required under GAAP.
The Company's 10-K for the year ended December 31, 1999 and 10-Q for the
quarters ended September 30, 2000, June 30, 2000 and March 31, 2000 should be
read in conjunction with the above information.
<PAGE> 7
NEW PLAN EXCEL REALTY TRUST, INC.
SUPPLEMENTAL DISCLOSURE - QUARTER ENDED SEPTEMBER 30, 2000
--------------------------------------------------------------------------------
BALANCE SHEETS - ERT DEVELOPMENT CORPORATION PAGE 6
(IN THOUSANDS)
<TABLE>
<CAPTION>
As Of
---------------------------
9/30/00 6/30/00
--------- ---------
<S> <C> <C>
ASSETS:
Land $ 29,295 $ 29,295
Buildings and improvements 158,918 157,923
Less: accumulated depreciation and amortization (10,482) (9,323)
--------- ---------
NET REAL ESTATE 177,731 177,895
Cash and cash equivalents 1,580 3,067
Receivables
Trade and notes, net of allowance for doubtful accounts of 4,658 4,923
(September 30, 2000- $6,038, June 30, 2000- $5,566, March 31, 2000- $4,693,
December 31, 1999- $3,197)
Mortgages, notes and interest receivable from developers 69,533 64,897
Other investments (1) 3,261 3,212
Prepaid expenses and deferred charges 5,709 5,066
--------- ---------
TOTAL ASSETS $ 262,472 $ 259,060
========= =========
LIABILITIES:
Mortgages payable to New Plan Excel Realty Trust, Inc. $ 84,424 $ 81,824
Notes and accounts payable to New Plan Excel Realty Trust, Inc. 72,267 70,764
Interest payable to New Plan Excel Realty Trust, Inc. 27,437 22,866
Mortgages payable to third parties 78,475 78,475
Other liabilities (2) 10,005 10,192
--------- ---------
TOTAL LIABILITIES 272,608 264,121
STOCKHOLDERS' EQUITY:
Preferred stock 1 1
Partner's capital (3) 1 1
Retained earnings (10,138) (5,063)
--------- ---------
TOTAL STOCKHOLDERS' EQUITY (10,136) (5,061)
--------- ---------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 262,472 $ 259,060
========= =========
<CAPTION>
As Of
----------------------------
3/31/00 12/31/99
--------- ---------
<S> <C> <C>
ASSETS:
Land $ 29,982 $ 29,974
Buildings and improvements 160,418 158,245
Less: accumulated depreciation and amortization (8,235) (7,149)
--------- ---------
NET REAL ESTATE 182,165 181,070
Cash and cash equivalents 11,090 11,459
Receivables
Trade and notes, net of allowance for doubtful accounts of 4,523 4,768
(September 30, 2000- $6,038, June 30, 2000- $5,566, March 31, 2000- $4,693,
December 31, 1999- $3,197)
Mortgages, notes and interest receivable from developers 40,213 40,074
Other investments (1) 3,264 3,654
Prepaid expenses and deferred charges 4,795 4,618
--------- ---------
TOTAL ASSETS $ 246,050 $ 245,643
========= =========
LIABILITIES:
Mortgages payable to New Plan Excel Realty Trust, Inc. $ 58,900 $ -
Notes and accounts payable to New Plan Excel Realty Trust, Inc. 78,003 128,903
Interest payable to New Plan Excel Realty Trust, Inc. 21,096 16,415
Mortgages payable to third parties 78,475 84,013
Other liabilities (2) 10,625 12,085
--------- ---------
TOTAL LIABILITIES 247,099 241,416
STOCKHOLDERS' EQUITY:
Preferred stock 1 1
Partner's capital (3) 1 1
Retained earnings (1,051) 4,225
--------- ---------
TOTAL STOCKHOLDERS' EQUITY (1,049) 4,227
--------- ---------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 246,050 $ 245,643
========= =========
</TABLE>
(1) Represents direct equity investments in Vail Ranch II and The Centre at
Preston Ridge joint venture projects.
(2) Other liabilities includes: interest payable to third parties, accounts
payable and accrued liabilities.
(3) Represents original capital contribution upon formation of Pointe Orlando
Development Company.
In 1995 ERT Development Corporation ("ERT") was organized to finance, acquire,
develop, hold and sell real estate in the short-term for capital gains and/or to
receive fee income.
The Company owns 100% of the outstanding preferred shares of ERT.
The preferred shares are entitled to 95% of the economic interest in ERT.
The above does not purport to disclose all items required under GAAP.
The Company's 10-K for the year ended December 31, 1999 and 10-Q for the
quarters ended September 30, 2000, June 30, 2000 and March 31, 2000 should be
read in conjunction with the above information.
<PAGE> 8
NEW PLAN EXCEL REALTY TRUST, INC.
SUPPLEMENTAL DISCLOSURE - QUARTER ENDED SEPTEMBER 30, 2000
-------------------------------------------------------------------------------
INCOME STATEMENTS - CONSOLIDATED PAGE 7
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
<TABLE>
<CAPTION>
Three Months Ended
----------------------------------------------------
9/30/00 6/30/00 3/31/00
---------------- ---------------- ---------------
<S> <C> <C> <C>
Revenues:
Rental revenues $ 86,318 $ 87,050 $ 87,977
Percentage rents 1,184 2,068 2,202
Expense reimbursements 13,139 13,421 13,219
Interest, dividend, and other income 7,477 7,353 7,422
Equity participation in ERT (1) (5,075) (4,012) (5,276)
Foreign currency gain (loss) (116) (276) (16)
---------------- ---------------- ---------------
TOTAL REVENUES 102,927 105,604 105,528
---------------- ---------------- ---------------
Expenses:
Operating costs 20,436 21,015 23,189
Real estate and other taxes 10,466 10,931 10,789
Interest expense 23,193 23,539 22,573
Depreciation and amortization 15,591 15,554 15,989
Provision for doubtful accounts 776 1,372 754
Non-recurring charges 1 915 2,749
General and administrative (1) 1,140 2,581 1,997
---------------- ---------------- ---------------
TOTAL EXPENSES 71,603 75,907 78,040
---------------- ---------------- ---------------
Income before real estate sales and minority interest 31,324 29,697 27,488
Gain (loss) on sale of real estate 1,185 7,915 (1)
Impairment of real estate - (1,900) -
Minority interest in income of partnership (276) (241) (238)
---------------- ---------------- ---------------
NET INCOME BEFORE EXTRAORDINARY INCOME 32,233 35,471 27,249
Extraordinary income (2) - 758 -
---------------- ---------------- ---------------
NET INCOME $ 32,233 $ 36,229 $ 27,249
================ ================ ===============
-------------------------------------------------------------------------------------------------------------------------
NET INCOME PER COMMON SHARE - BASIC (BEFORE EXTRAORDINARY ITEM) $ 0.30 $ 0.34 $ 0.25
NET INCOME PER COMMON SHARE - DILUTED (BEFORE EXTRAORDINARY ITEM) 0.30 0.34 0.25
-------------------------------------------------------------------------------------------------------------------------
Weighted average common shares outstanding - basic 87,651 87,651 87,607
ERP partnership units 1,235 1,235 1,235
Options 134 128 189
---------------- ---------------- ---------------
Weighted average common shares outstanding - diluted 89,020 89,014 89,031
================ ================ ===============
<CAPTION>
Three Months Ended
--------------------------------------------------
9/30/99 6/30/99 3/31/99
---------------- ---------------- ---------------
<S> <C> <C> <C>
Revenues:
Rental revenues $ 88,627 $ 88,620 $ 87,482
Percentage rents 1,039 1,617 1,552
Expense reimbursements 12,991 13,157 15,289
Interest, dividend, and other income 6,072 5,891 5,625
Equity participation in ERT (1) (597) (126) 1,023
Foreign currency gain (loss) 35 262 195
---------------- ---------------- ---------------
TOTAL REVENUES 108,167 109,421 111,166
---------------- ---------------- ---------------
Expenses:
Operating costs 23,305 20,747 23,288
Real estate and other taxes 9,683 9,546 9,506
Interest expense 20,895 19,410 18,947
Depreciation and amortization 15,523 15,759 15,639
Provision for doubtful accounts 1,717 1,897 1,406
Non-recurring charges 58 8,429 -
General and administrative (1) 2,290 1,497 2,254
---------------- ---------------- ---------------
TOTAL EXPENSES 73,471 77,285 71,040
---------------- ---------------- ---------------
Income before real estate sales and minority interest 34,696 32,136 40,126
Gain (loss) on sale of real estate 191 - -
Impairment of real estate - - -
Minority interest in income of partnership (199) (348) (457)
---------------- ---------------- ---------------
NET INCOME BEFORE EXTRAORDINARY INCOME 34,688 31,788 39,669
Extraordinary income (2) - - -
---------------- ---------------- ---------------
NET INCOME $ 34,688 $ 31,788 $ 39,669
================ ================ ===============
-----------------------------------------------------------------------------------------------------------------------
NET INCOME PER COMMON SHARE - BASIC (BEFORE EXTRAORDINARY ITEM) $ 0.33 $ 0.29 $ 0.38
NET INCOME PER COMMON SHARE - DILUTED (BEFORE EXTRAORDINARY ITEM) 0.32 0.29 0.38
-----------------------------------------------------------------------------------------------------------------------
Weighted average common shares outstanding - basic 88,718 88,815 88,804
ERP partnership units 1,366 2,220 2,202
Options 21 78 388
---------------- ---------------- ---------------
Weighted average common shares outstanding - diluted 90,105 91,113 91,394
================ ================ ===============
<CAPTION>
Twelve
Months Ended
12/31/99
-----------------
<S> <C>
Revenues:
Rental revenues $353,884
Percentage rents 5,850
Expense reimbursements 54,747
Interest, dividend, and other income 26,041
Equity participation in ERT (1) (3,169)
Foreign currency gain (loss) 674
-----------------
TOTAL REVENUES 438,027
-----------------
Expenses:
Operating costs 90,612
Real estate and other taxes 38,929
Interest expense 81,412
Depreciation and amortization 62,912
Provision for doubtful accounts 6,144
Non-recurring charges 8,497
General and administrative (1) 6,665
-----------------
TOTAL EXPENSES 295,171
-----------------
Income before real estate sales and minority interest 142,856
Gain (loss) on sale of real estate 7,956
Impairment of real estate -
Minority interest in income of partnership (1,299)
-----------------
NET INCOME BEFORE EXTRAORDINARY INCOME 149,513
Extraordinary income (2) -
-----------------
NET INCOME $149,513
=================
-------------------------------------------------------------------------------------
NET INCOME PER COMMON SHARE - BASIC (BEFORE EXTRAORDINARY ITEM) $ 1.43
NET INCOME PER COMMON SHARE - DILUTED (BEFORE EXTRAORDINARY ITEM) 1.42
-------------------------------------------------------------------------------------
Weighted average common shares outstanding - basic 88,662
ERP partnership units 1,756
Options 22
=================
Weighted average common shares outstanding - diluted 90,440
</TABLE>
(1) As of 4Q 1999, the Company allocates approximately 20 percent of senior
management time to ERT, reducing equally Equity participation in ERT and General
and administrative expenses.
(2) 2Q 2000 write-off of mortgage premium resulting from prepayment of Circle
Center mortgage.
The above does not purport to disclose all items required under GAAP.
The Company's 10-K for the year ended December 31, 1999 and 10-Q for the
quarters ended September 30, 2000, June 30, 2000 and March 31, 2000 should be
read in conjunction with the above information.
<PAGE> 9
NEW PLAN EXCEL REALTY TRUST, INC.
SUPPLEMENTAL DISCLOSURE - QUARTER ENDED SEPTEMBER 30, 2000
--------------------------------------------------------------------------------
INCOME STATEMENTS - ERT DEVELOPMENT CORPORATION PAGE 8
(IN THOUSANDS)
<TABLE>
<CAPTION>
Three Months Ended
-------------------------------------------------------
9/30/00 6/30/00 3/31/00
--------------- --------------- ---------------
<S> <C> <C> <C>
REVENUES:
Rental revenues $ 3,588 $ 3,981 $ 4,629
Percentage rents 255 302 (86)
Expense reimbursements 828 907 1,152
Loss in equity affiliate (1) - - -
Interest income 1,336 1,635 761
--------------- --------------- ---------------
TOTAL REVENUES 6,007 6,825 6,456
--------------- --------------- ---------------
EXPENSES:
Operating costs 3,200 2,596 2,781
Real estate and other taxes 449 516 389
Interest expense to New Plan Excel Realty Trust, Inc. 4,571 4,613 4,681
Interest expense 1,191 1,122 1,249
Depreciation and amortization 1,200 1,200 1,116
Provision for doubtful accounts 471 790 1,516
--------------- --------------- ---------------
TOTAL EXPENSES 11,082 10,837 11,732
--------------- --------------- ---------------
NET INCOME (LOSS) $ (5,075) $ (4,012) $ (5,276)
=============== =============== ===============
<CAPTION>
Three Months Ended Twelve
------------------------------------------------------------ Months Ended
9/30/99 6/30/99 3/31/99 12/31/99
--------------- --------------- --------------- ---------------
<S> <C> <C> <C> <C>
REVENUES:
Rental revenues $ 1,441 $ 1,540 $ 3,383 $ 11,756
Percentage rents 111 73 3 777
Expense reimbursements 534 465 579 2,321
Loss in equity affiliate (1) (408) (343) (894) (3,467)
Interest income 2,611 2,778 2,308 8,720
--------------- --------------- --------------- ---------------
TOTAL REVENUES 4,289 4,513 5,379 20,107
--------------- --------------- --------------- ---------------
EXPENSES:
Operating costs 831 790 584 2,340
Real estate and other taxes 225 169 47 844
Interest expense to New Plan Excel Realty Trust, Inc. 3,660 3,566 3,605 14,842
Interest expense 5 8 - 2,758
Depreciation and amortization 87 106 107 1,906
Provision for doubtful accounts 78 - 13 586
--------------- --------------- --------------- ---------------
TOTAL EXPENSES 4,886 4,639 4,356 23,276
--------------- --------------- --------------- ---------------
NET INCOME (LOSS) $ (597) $ (126) $ 1,023 $ (3,169)
=============== =============== =============== ===============
</TABLE>
(1) Prior to 4Q 1999, ERT owned less than 50% of Pointe*Orlando and accounted
for the property using the equity method.
In 1995 ERT Development Corporation ("ERT") was organized to finance, acquire,
develop, hold and sell real estate in the short-term for capital gains and/or to
receive fee income.
The Company owns 100% of the outstanding preferred shares of ERT.
The preferred shares are entitled to 95% of the economic interest in ERT.
The above does not purport to disclose all items required under GAAP.
The Company's 10-K for the year ended December 31, 1999 and 10-Q for the
quarters ended September 30, 2000, June 30, 2000 and March 31, 2000 should be
read in conjunction with the above information.
<PAGE> 10
NEW PLAN EXCEL REALTY TRUST, INC.
SUPPLEMENTAL DISCLOSURE - QUARTER ENDED SEPTEMBER 30, 2000
-------------------------------------------------------------------------------
FUNDS FROM OPERATIONS / FUNDS AVAILABLE FOR DISTRIBUTION PAGE 9
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
<TABLE>
<CAPTION>
Three Months Ended
---------------------------------------------------------
9/30/00 6/30/00 3/31/00 9/30/99
-------------- ---------- ----------- -------------
<S> <C> <C> <C> <C>
Funds from Operations: (1)
Net income before extraordinary item $ 32,233 $ 35,471 $ 27,249 $ 34,688
Add:
Depreciation and amortization
New Plan Excel real estate assets 15,591 15,554 15,989 15,523
ERT real estate assets 1,200 1,200 1,116 1,491
Impairment of real estate - 1,900 - -
Deduct:
Preferred A dividends (800) (800) (800) (800)
Preferred B dividends (3,396) (3,396) (3,396) (3,396)
Preferred D dividends (1,463) (1,462) (1,463) (1,463)
(Gain) loss on sale of real estate (1,185) (7,915) 1 (191)
---------------- ---------- ---------- ----------
FUNDS FROM OPERATIONS - BASIC 42,180 40,552 38,696 45,852
Add:
Preferred A dividends 800 800 800 800
Minority interest in income of partnership 276 241 238 199
---------------- ---------- ---------- ----------
FUNDS FROM OPERATIONS - DILUTED $ 43,256 $ 41,593 $ 39,734 $ 46,851
================ ========== ========== ==========
-------------------------------------------------------------------------------------------------------------------------
FUNDS FROM OPERATIONS PER SHARE - BASIC $ 0.48 $ 0.46 $ 0.44 $ 0.52
FUNDS FROM OPERATIONS PER SHARE - DILUTED 0.48 0.46 0.44 0.51
-------------------------------------------------------------------------------------------------------------------------
Weighted average common shares outstanding - basic 87,651 87,651 87,607 88,718
ERP partnership units 1,235 1,235 1,235 1,366
Options 134 128 189 21
Dilutive effect of convertible Preferred A 1,874 1,874 1,874 1,874
---------------- ---------- ---------- ----------
Weighted average common shares outstanding - diluted 90,894 90,888 90,905 91,979
================ ========== ========== ==========
Funds Available for Distribution:
Funds from operations - diluted $ 43,256 $ 41,593 $ 39,734 $ 46,851
Straight line rents (436) (753) (717) (1,060)
Tenant improvements (522) (1,485) (1,843) (958)
Leasing commissions (223) (225) (217) (128)
Building improvements capitalized (1,464) (1,963) (1,624) (968)
---------------- ---------- ---------- ----------
FUNDS AVAILABLE FOR DISTRIBUTION $ 40,611 $ 37,167 $ 35,333 $ 43,737
================ ========== ========== ==========
Dividend per Common share $ 0.41250 $ 0.41250 $ 0.41250 $ 0.40750
Dividend per Preferred A share 0.53125 0.53125 0.53125 0.53125
Dividend per Preferred B share 0.53906 0.53906 0.53906 0.53906
Dividend per Preferred D share 0.97500 0.97500 0.97500 0.97500
Common dividends $ 36,156 $ 36,156 $ 36,156 $ 36,179
Preferred A dividends 800 800 800 800
Preferred B dividends 3,396 3,396 3,396 3,396
Preferred D dividends 1,463 1,462 1,463 1,463
---------------- ---------- ---------- ----------
TOTAL DISTRIBUTIONS $ 41,815 $ 41,814 $ 41,815 $ 41,838
================ ========== ========== ==========
Payout ratio of common dividends/diluted funds
from operations (2) 84% 85% 85% 77%
Payout ratio of common dividends/funds available
for distribution (2) 89% 95% 95% 83%
</TABLE>
<TABLE>
<CAPTION>
Twelve
Three Months Ended Months Ended
----------------------------
6/30/99 3/31/99 12/31/99
----------- ---------- -----------
<S> <C> <C> <C>
Funds from Operations: (1)
Net income before extraordinary item $ 31,788 $ 39,669 $ 149,513
Add:
Depreciation and amortization
New Plan Excel real estate assets 15,759 15,639 62,912
ERT real estate assets 106 107 1,906
Impairment of real estate - - -
Deduct:
Preferred A dividends (800) (943) (3,343)
Preferred B dividends (3,396) (3,396) (13,584)
Preferred D dividends (1,463) (1,463) (5,850)
(Gain) loss on sale of real estate - - (7,956)
---------- ---------- -----------
FUNDS FROM OPERATIONS - BASIC 41,994 49,613 183,598
Add:
Preferred A dividends 800 943 3,343
Minority interest in income of partnership 348 457 1,299
---------- ---------- -----------
FUNDS FROM OPERATIONS - DILUTED $ 43,142 $ 51,013 $ 188,240
========== ========== ===========
------------------------------------------------------------------------------------------ -----------
FUNDS FROM OPERATIONS PER SHARE - BASIC $ 0.47 $ 0.56 $ 2.07
FUNDS FROM OPERATIONS PER SHARE - DILUTED 0.46 0.54 2.04
------------------------------------------------------------------------------------------ -----------
Weighted average common shares outstanding - basic 88,815 88,804 88,662
ERP partnership units 2,220 2,202 1,756
Options 78 388 22
Dilutive effect of convertible Preferred A 1,977 2,297 2,004
---------- ---------- -----------
Weighted average common shares outstanding - diluted 93,090 93,691 92,444
========== ========== ===========
Funds Available for Distribution:
Funds from operations - diluted $ 43,142 $ 51,013 $ 188,240
Straight line rents (683) (1,017) (3,681)
Tenant improvements (2,043) (1,127) (5,833)
Leasing commissions (155) (210) (852)
Building improvements capitalized (1,571) (1,214) (6,277)
---------- ---------- -----------
FUNDS AVAILABLE FOR DISTRIBUTION $ 38,690 $ 47,445 $ 171,597
========== ========== ===========
Dividend per Common share $ 0.40500 $ 0.40250 $ 1.62500
Dividend per Preferred A share 0.53125 0.53125 $ 2.12500
Dividend per Preferred B share 0.53906 0.53906 $ 2.15900
Dividend per Preferred D share 0.97500 0.97500 $ 3.90000
Common dividends $ 35,807 $ 35,801 $ 143,726
Preferred A dividends 800 943 3,343
Preferred B dividends 3,396 3,396 13,584
Preferred D dividends 1,463 1,463 5,850
---------- ---------- -----------
TOTAL DISTRIBUTIONS $ 41,466 $ 41,603 $ 166,503
========== ========== ===========
Payout ratio of common dividends/diluted funds
from operations (2) 69% 70% 73%
Payout ratio of common dividends/funds available
for distribution (2) 76% 75% 80%
</TABLE>
(1) FFO for prior periods has been restated to conform to the NAREIT
definition effective January 1, 2000 which requires inclusion of both
recurring and non-recurring results of operations.
(2) Excludes non-recurring charges relating to executive resignations.
The above does not purport to disclose all items required under GAAP.
The Company's 10-K for the year ended December 31, 1999 and 10-Q for the
quarters ended September 30, 2000, June 30, 2000 and March 31, 2000 should be
read in conjunction with the above information.
<PAGE> 11
NEW PLAN EXCEL REALTY TRUST, INC.
SUPPLEMENTAL DISCLOSURE - QUARTER ENDED SEPTEMBER 30, 2000
--------------------------------------------------------------------------------
SELECTED FINANCIAL RATIOS / DATA PAGE 10
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
<TABLE>
<CAPTION>
Three Months Ended
----------------------------------------------------------------------
9/30/00 6/30/00 3/31/00 9/30/99
---------------- --------------- ------------- --------------
<S> <C> <C> <C> <C>
Debt coverage ratios:
Interest coverage ratio (EBITDA /interest expense) 3.07 x 3.17 x 2.92 x 3.40 x
Debt service coverage (EBITDA/(interest expense + 2.82 x 2.88 x 2.62 x 3.03 x
scheduled principal payments))
Fixed charge coverage (EBITDA/(interest expense + 2.31 x 2.36 x 2.14 x 2.44 x
scheduled principal payments + preferred dividends))
Debt/equity ratios:
Total debt/total market capitalization 45.6% 47.0% 46.7% 38.8%
Total debt/total equity market capitalization 84.0% 88.8% 87.5% 63.5%
Total debt/total book assets 41.6% 41.8% 42.2% 39.5%
Overhead ratios:
Annualized G&A/total assets 0.16% 0.35% 0.27% 0.31%
G&A/total revenues (excluding currency change) 1.11% 2.44% 1.89% 2.12%
Capitalized interest: $ 82 $ 79 $ 198 $ -
Market capitalization calculations:
Common shares outstanding 87,651 87,651 87,651 88,784
Preferred A shares outstanding 1,507 1,507 1,507 1,507
Preferred B shares outstanding 6,300 6,300 6,300 6,300
Preferred D shares outstanding 1,500 1,500 1,500 1,500
Common stock price end of period $ 13.69 $ 13.00 $ 13.75 $ 17.81
Preferred A price end of period 20.85 22.25 19.25 23.38
Preferred B price end of period 22.50 21.50 19.50 23.13
Preferred D price end of period 50.00 50.00 50.00 50.00
Common market equity at end of period $ 1,199,938 $ 1,139,459 $ 1,205,197 $ 1,581,460
Preferred market equity at end of period 248,166 243,976 226,856 255,908
-------------- ------------- --------------- -------------
Total equity market capitalization 1,448,104 1,383,435 1,432,053 1,837,368
Total debt end of period 1,215,748 1,227,924 1,252,778 1,166,137
-------------- ------------- --------------- -------------
TOTAL MARKET CAPITALIZATION $ 2,663,852 $ 2,611,359 $ 2,684,831 $ 3,003,505
============== ============= =============== =============
EBITDA calculation:
Net income before extraordinary income $ 32,233 $ 35,471 $ 27,249 $ 34,688
Depreciation and amortization 15,591 15,554 15,989 15,523
Income Taxes 127 167 98 -
Interest expense 23,193 23,539 22,573 20,895
-------------- ------------- --------------- -------------
EBITDA $ 71,144 $ 74,731 $ 65,909 $ 71,106
============== ============= =============== =============
</TABLE>
<TABLE>
<CAPTION>
Twelve
Three Months Ended Months Ended
----------------------------------
6/30/99 3/31/99 12/31/99
--------------- ---------------- -------------
<S> <C> <C> <C>
Debt coverage ratios:
Interest coverage ratio (EBITDA /interest expense) 3.45 x 3.92 x 3.61 x
Debt service coverage (EBITDA/(interest expense + 3.06 x 3.56 x 3.20 x
scheduled principal payments))
Fixed charge coverage (EBITDA/(interest expense + 2.43 x 2.78 x 2.57 x
scheduled principal payments + preferred dividends))
Debt/equity ratios:
Total debt/total market capitalization 38.1% 35.9% 43.1%
Total debt/total equity market capitalization 61.6% 56.1% 75.7%
Total debt/total book assets 39.1% 37.9% 41.3%
Overhead ratios:
Annualized G&A/total assets 0.20% 0.31% 0.27%
G&A/total revenues (excluding currency change) 1.37% 2.03% 1.52%
Capitalized interest: $ - $ 126 $ 126
Market capitalization calculations:
Common shares outstanding 88,404 88,947 87,555
Preferred A shares outstanding 1,507 1,775 1,507
Preferred B shares outstanding 6,300 6,300 6,300
Preferred D shares outstanding 1,500 1,500 1,500
Common stock price end of period $ 18.00 $ 19.19 $ 15.81
Preferred A price end of period 27.00 25.19 21.25
Preferred B price end of period 24.75 24.94 19.31
Preferred D price end of period 50.00 50.00 50.00
Common market equity at end of period $ 1,591,271 $ 1,706,665 $ 1,384,467
Preferred market equity at end of period 271,608 276,817 228,691
-------------- -------------- -------------
Total equity market capitalization 1,862,879 1,983,482 1,613,158
Total debt end of period 1,146,679 1,112,635 1,220,451
-------------- -------------- -------------
TOTAL MARKET CAPITALIZATION $ 3,009,558 $ 3,096,117 $ 2,833,609
============== ============== =============
EBITDA calculation:
Net income before extraordinary income $ 31,788 $ 39,669 $ 149,513
Depreciation and amortization 15,759 15,639 62,912
Income Taxes - - 352
Interest expense 19,410 18,947 81,412
-------------- -------------- -------------
EBITDA $ 66,957 $ 74,255 $ 294,189
============== ============== =============
</TABLE>
The above does not purport to disclose all items required under GAAP.
The Company's 10-K for the year ended December 31, 1999 and 10-Q for the
quarters ended September 30, 2000, June 30, 2000 and March 31, 2000 should be
read in conjunction with the above information.
<PAGE> 12
NEW PLAN EXCEL REALTY TRUST, INC.
SUPPLEMENTAL DISCLOSURE - QUARTER ENDED SEPTEMBER 30, 2000
--------------------------------------------------------------------------------
SUMMARY OF OUTSTANDING DEBT PAGE 11
(IN THOUSANDS)
<TABLE>
<CAPTION>
Outstanding Actual
Lender Balance Interest Rate
------------------------------- ----------------- -----------------
<S> <C> <C> <C>
Fixed Rate Debt:
Secured Mortgage Indebtedness
University Commons Modern Woodman of America $ 3,119 8.250%
Factory Merchants-Barstow NY Life Insurance 8,750 10.750%
Plantation Apartments Abraham Mitchell 1,000 7.000%
Maison Deville Apartments Abraham Mitchell 4,625 7.000%
Maison Imperial Apartments Abraham Mitchell 1,750 7.000%
Wisteria Village First Tennessee Bank 2,229 6.800%
Knollwood Apartments Abraham Mitchell 6,027 6.750%
Hamilton Park - Kmart Plaza Guardian Life Insurance 4,709 9.530%
Hillcrest Apartments Abraham Mitchell 1,253 6.750%
Tara Apartments Bank Of America 3,175 7.600%
Northgate Apartments Bank Of America 7,006 7.600%
Eastgreen On The Commons Apartments Bank Of America 5,615 7.600%
Polo Run Apartments Bank Of America 4,371 7.600%
Lake Drive Plaza Monumental Life Insurance 3,634 7.200%
Roanoke Landing American Express 5,768 7.200%
Hunting Hills Nationwide Life Insurance 4,060 8.250%
Valley Fair Mall Lincoln National Life 16,545 7.600%
Briggsmore Plaza AETNA Life 948 8.288%
Stillwater Office Bldg. Stillwater Group 234 8.000%
Grant Mills Station Nationwide Life Insurance 7,279 8.850%
Mist Lake Plaza Nationwide Life Insurance 9,196 8.850%
Lagniappe Village Shopping Center Nationwide Life Insurance 6,238 8.850%
Roundtree Place Nationwide Life Insurance 6,768 8.850%
River Run Centre Fifth Third Real Estate Capital Markets 2,506 8.850%
Genesee Valley Shopping Center Nationwide Life Insurance 8,277 8.850%
Charter Pointe Apartments Morgan Guaranty Trust Company of New York 5,027 7.500%
Montebello Plaza Nationwide Life Insurance 7,230 9.625%
Crown Point Jackson National Life Insurance 7,612 8.120%
Westminster City Center Wells Fargo 29,555 6.690%
The Club Apartments Tax Exempt Bonds 6,145 5.650%
Brice Park USG Annuity and Life 4,510 7.875%
London Marketplace Aegon USA Realty 4,937 8.265%
Paradise Plaza CIGNA 2,411 9.150%
Saddletree Village Shopping Center Aegon USA Realty 1,883 8.250%
Hampton Village Centre Deutsche Banc 29,945 8.530%
Greentree San Francisco Retirement Fund 5,270 8.240%
Merchant's Central San Francisco Retirement Fund 6,550 8.240%
Northside Plaza San Francisco Retirement Fund 2,300 8.240%
Habersham Crossing San Francisco Retirement Fund 3,880 8.240%
Johnstown Galleria Outparcel Protective Life 3,197 8.000%
Irving West Protective Life 2,634 8.500%
Chapel Square American National Insurance 1,936 9.250%
Northgate Shoptaw James 7,481 8.750%
Perry Marketplace American Express 6,482 9.000%
Stratford Commons Protective Life 5,703 8.125%
Riverview Plaza Protective Life 5,187 8.625%
------------------ -------------
TOTAL FIXED RATE SECURED MORTGAGE INDEBTEDNESS $ 274,957 8.099%
</TABLE>
<TABLE>
<CAPTION>
Maturity Percent of
Lender Date Total Indebtedness
------------------------------- ------------ ------------------------
<S> <C> <C> <C>
Fixed Rate Debt:
Secured Mortgage Indebtedness
University Commons Modern Woodman of America 01/10/01 0.26%
Factory Merchants-Barstow NY Life Insurance 08/10/01 0.72%
Plantation Apartments Abraham Mitchell 09/01/01 0.08%
Maison Deville Apartments Abraham Mitchell 09/01/01 0.38%
Maison Imperial Apartments Abraham Mitchell 09/01/01 0.14%
Wisteria Village First Tennessee Bank 09/01/01 0.18%
Knollwood Apartments Abraham Mitchell 04/01/02 0.50%
Hamilton Park - Kmart Plaza Guardian Life Insurance 06/01/02 0.39%
Hillcrest Apartments Abraham Mitchell 07/01/02 0.10%
Tara Apartments Bank Of America 11/15/02 0.26%
Northgate Apartments Bank Of America 11/15/02 0.58%
Eastgreen On The Commons Apartments Bank Of America 11/15/02 0.46%
Polo Run Apartments Bank Of America 11/15/02 0.36%
Lake Drive Plaza Monumental Life Insurance 04/01/03 0.30%
Roanoke Landing American Express 04/03/03 0.48%
Hunting Hills Nationwide Life Insurance 05/01/03 0.34%
Valley Fair Mall Lincoln National Life 01/01/04 1.37%
Briggsmore Plaza AETNA Life 08/01/04 0.08%
Stillwater Office Bldg. Stillwater Group 12/01/04 0.02%
Grant Mills Station Nationwide Life Insurance 02/10/05 0.60%
Mist Lake Plaza Nationwide Life Insurance 02/10/05 0.76%
Lagniappe Village Shopping Center Nationwide Life Insurance 02/10/05 0.52%
Roundtree Place Nationwide Life Insurance 02/10/05 0.56%
River Run Centre Fifth Third Real Estate Capital Markets 02/10/05 0.21%
Genesee Valley Shopping Center Nationwide Life Insurance 02/10/05 0.68%
Charter Pointe Apartments Morgan Guaranty Trust Company of New York 03/01/06 0.42%
Montebello Plaza Nationwide Life Insurance 03/05/07 0.60%
Crown Point Jackson National Life Insurance 05/01/07 0.63%
Westminster City Center Wells Fargo 02/01/08 2.44%
The Club Apartments Tax Exempt Bonds 06/01/08 0.51%
Brice Park USG Annuity and Life 02/01/09 0.37%
London Marketplace Aegon USA Realty 04/01/09 0.41%
Paradise Plaza CIGNA 04/15/09 0.20%
Saddletree Village Shopping Center Aegon USA Realty 05/22/10 0.16%
Hampton Village Centre Deutsche Banc 06/30/10 2.48%
Greentree San Francisco Retirement Fund 10/01/10 0.44%
Merchant's Central San Francisco Retirement Fund 10/01/10 0.54%
Northside Plaza San Francisco Retirement Fund 10/01/10 0.19%
Habersham Crossing San Francisco Retirement Fund 10/01/10 0.32%
Johnstown Galleria Outparcel Protective Life 07/11/11 0.26%
Irving West Protective Life 09/30/11 0.22%
Chapel Square American National Insurance 02/01/13 0.16%
Northgate Shoptaw James 06/30/13 0.62%
Perry Marketplace American Express 10/01/13 0.54%
Stratford Commons Protective Life 10/01/15 0.47%
Riverview Plaza Protective Life 09/01/15 0.43%
---------
TOTAL FIXED RATE SECURED MORTGAGE INDEBTEDNESS 22.73%
</TABLE>
<PAGE> 13
NEW PLAN EXCEL REALTY TRUST, INC.
SUPPLEMENTAL DISCLOSURE - QUARTER ENDED SEPTEMBER 30, 2000
--------------------------------------------------------------------------------
SUMMARY OF OUTSTANDING DEBT (CONT'D) PAGE 12
(IN THOUSANDS)
<TABLE>
<CAPTION>
Outstanding Actual
Lender Balance Interest Rate
--------------------------------- ------------- ------------------
<S> <C> <C> <C>
Unsecured Notes
6.80%, 7 Year Unsecured Notes N/A $ 81,000 6.800%
7.33%, 4 Year Unsecured Notes N/A 49,000 7.330%
6.88%, 7 Year Unsecured Notes N/A 75,000 6.875%
7.75%, 10 Year Unsecured Notes N/A 100,000 7.750%
7.35%, 10 Year Unsecured Notes N/A 30,000 7.350%
7.40%, 10 Year Unsecured Notes N/A 150,000 7.400%
7.97%, 30 Year Unsecured Notes N/A 10,000 7.970%
7.65%, 30 Year Unsecured Notes N/A 25,000 7.650%
7.68%, 30 Year Unsecured Notes N/A 10,000 7.680%
7.68%, 30 Year Unsecured Notes N/A 10,000 7.680%
6.90%, 30 Year Unsecured Notes N/A 25,000 6.900%
6.90%, 30 Year Unsecured Notes N/A 25,000 6.900%
7.50%, 30 Year Unsecured Notes N/A 25,000 7.500%
------------- ------------------
TOTAL FIXED RATE UNSECURED NOTES $ 615,000 7.298%
CAPITAL LEASES $ 27,351 8.989%
-------------------------------------------------------------------------------------------------------------------
TOTAL FIXED RATE DEBT $ 917,308 7.588%
-------------------------------------------------------------------------------------------------------------------
Variable Rate Debt:
Secured Mortgage Indebtedness
Palmetto Crossroads Aegon USA Realty $ 2,448 6.680%
St. Elmo Central SouthTrust Bank 4,021 8.371%
Commerce Central SouthTrust Bank 8,703 8.371%
Remount Village SouthTrust Bank 3,637 8.371%
San Dimas Plaza Tax Exempt Bonds 8,100 4.300%
Highland Commons Great Northern Insured Annuity 4,242 7.250%
Lexington Road Plaza Great Northern Insured Annuity 7,496 8.125%
Unity Professional Bldg. Tax Exempt Bonds 5,434 5.300%
Courts at Waterford Apartments Tax Exempt Bonds 9,600 5.180%
------------- --------------
TOTAL VARIABLE RATE SECURED MORTGAGE
INDEBTEDNESS $ 53,681 6.675%
Unsecured Credit Facilities
$122.5 Million Revolving Credit
Facility I The Bank of New York $ 66,221 7.247%
$122.5 Million Revolving Credit
Facility II The Bank of New York 97,500 7.201%
$75 Million Term Loan Facility Fleet National Bank 75,000 7.600%
------------- --------------
TOTAL CREDIT FACILITIES $ 238,721 7.339%
-------------------------------------------------------------------------------------------------------------------
TOTAL VARIABLE RATE DEBT $ 292,402 7.217%
-------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------
TOTAL DEBT $ 1,209,710 7.499%
-------------------------------------------------------------------------------------------------------------------
Net Unamortized Premiums on Mortgages $ 8,110
Net Unamortized Discount on Notes (2,072)
--------------
TOTAL DEBT - NET $ 1,215,748
==============
</TABLE>
<TABLE>
<CAPTION>
Maturity Percent of
Lender Date Total Indebtedness
--------------------------------- ---------------- ------------------
<S> <C> <C> <C>
Unsecured Notes
6.80%, 7 Year Unsecured Notes N/A 05/15/02 6.70%
7.33%, 4 Year Unsecured Notes N/A 11/20/03 4.05%
6.88%, 7 Year Unsecured Notes N/A 10/15/04 6.20%
7.75%, 10 Year Unsecured Notes N/A 04/06/05 8.27%
7.35%, 10 Year Unsecured Notes N/A 06/15/07 2.48%
7.40%, 10 Year Unsecured Notes N/A 09/15/09 12.40%
7.97%, 30 Year Unsecured Notes N/A 08/14/26 0.83%
7.65%, 30 Year Unsecured Notes N/A 11/02/26 2.07%
7.68%, 30 Year Unsecured Notes N/A 11/02/26 0.83%
7.68%, 30 Year Unsecured Notes N/A 11/02/26 0.83%
6.90%, 30 Year Unsecured Notes N/A 02/15/28 2.07%
6.90%, 30 Year Unsecured Notes N/A 02/15/28 2.07%
7.50%, 30 Year Unsecured Notes N/A 07/30/29 2.07%
---------------
TOTAL FIXED RATE UNSECURED NOTES 50.84%
CAPITAL LEASES 06/20/31 2.26%
----------------------------------------------------------------------------------------------------------------
TOTAL FIXED RATE DEBT 75.83%
----------------------------------------------------------------------------------------------------------------
Variable Rate Debt:
Secured Mortgage Indebtedness
Palmetto Crossroads Aegon USA Realty 11/01/00 0.20%
St. Elmo Central SouthTrust Bank 07/31/01 0.33%
Commerce Central SouthTrust Bank 08/31/01 0.72%
Remount Village SouthTrust Bank 11/10/01 0.30%
San Dimas Plaza Tax Exempt Bonds 12/01/05 0.67%
Highland Commons Great Northern Insured Annuity 12/01/09 0.35%
Lexington Road Plaza Great Northern Insured Annuity 09/01/11 0.62%
Unity Professional Bldg. Tax Exempt Bonds 02/01/13 0.45%
Courts at Waterford Apartments Tax Exempt Bonds 11/01/29 0.79%
---------------
TOTAL VARIABLE RATE SECURED MORTGAGE
INDEBTEDNESS 4.44%
Unsecured Credit Facilities
$122.5 Million Revolving Credit
Facility I The Bank of New York 11/17/00 5.47%
$122.5 Million Revolving Credit
Facility II The Bank of New York 11/17/02 8.06%
$75 Million Term Loan Facility Fleet National Bank 03/07/01 6.20%
---------------
TOTAL CREDIT FACILITIES 19.73%
----------------------------------------------------------------------------------------------------------------
TOTAL VARIABLE RATE DEBT 24.17%
----------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------
TOTAL DEBT 100.00%
----------------------------------------------------------------------------------------------------------------
Net Unamortized Premiums on Mortgages
Net Unamortized Discount on Notes
TOTAL DEBT - NET
</TABLE>
<PAGE> 14
NEW PLAN EXCEL REALTY TRUST, INC.
SUPPLEMENTAL DISCLOSURE - QUARTER ENDED SEPTEMBER 30, 2000
------------------------------------------------------------------------------
DEBT MATURITY SCHEDULE PAGE 13
(IN THOUSANDS)
DEBT MATURITY SCHEDULE:
<TABLE>
<CAPTION>
Scheduled Scheduled Total Percent of
Amortization Maturities Debt Maturing Debt Maturing
-------------------- ---------------------- ----------------------- --------------------
<S> <C> <C> <C> <C>
2000 $ 2,637 $ 68,669 (1) $ 71,306 5.89%
2001 8,743 111,760 (2) 120,503 9.96%
2002 7,157 208,605 (3) 215,762 17.84%
2003 7,500 76,460 83,960 6.94%
2004 7,372 75,000 82,372 6.81%
2005 6,707 144,047 150,754 12.46%
2006 6,947 3,890 10,837 0.90%
2007+ 28,516 445,700 474,216 39.20%
-------------------- ---------------------- ----------------------- --------------------
$ 75,579 $ 1,134,131 $ 1,209,710 100.00%
==================== ====================== ======================= ====================
Net Unamortized Premiums on Mortgages 8,110
Net Unamortized Discount on Notes (2,072)
-----------------------
TOTAL DEBT - NET $ 1,215,748
=======================
Weighted Average Maturity:
Fixed Rate Debt Variable Rate Debt Total Debt
----------------------- ------------------------ ------------------
Including credit facilities and capital leases 9.6 Years 2.9 Years 8.0 Years
Excluding credit facilities and capital leases 9.0 Years 10.9 Years 9.1 Years
</TABLE>
(1) Scheduled maturities include $66.2 million representing the balance of the
Revolving Credit Facility I drawn as of September 30, 2000 and maturing
November 17, 2000.
(2) Scheduled maturities include $75.0 million representing the balance of the
Term Loan Facility drawn as of September 30, 2000 and maturing March 7,
2001.
(3) Scheduled maturities include $97.5 million representing the balance of the
Revolving Credit Facility II drawn as of September 30, 2000 and maturing
November 17, 2002.
<PAGE> 15
NEW PLAN EXCEL REALTY TRUST, INC.
SUPPLEMENTAL DISCLOSURE - QUARTER ENDED SEPTEMBER 30, 2000
-------------------------------------------------------------------------------
2000 PROPERTY ACQUISITIONS PAGE 14
(IN THOUSANDS)
<TABLE>
<CAPTION>
Property Purchase Purchase Cap-
Property Name Type (1) Location Date Amount Rate
------------------------- ------------ -------------- ----------------- ------------- ---------------
<S> <C> <C> <C> <C> <C>
1Q 2000
Dover Park Plaza S Yardville, NJ 01/28/00 $ 3,300 11.2%
</TABLE>
<TABLE>
<CAPTION>
Net Operating Percent
Property Name Income (NOI) (2) GLA Leased (3) Anchor Tenants
------------------------- --------------------- -------------- --------------- ----------------------
<S> <C> <C> <C> <C>
1Q 2000
Dover Park Plaza $ 369 60,000 100% Acme Markets
</TABLE>
<TABLE>
<CAPTION>
Mortgage Units Year
Property Name Amount Issued Built
------------------------- ------------------ ------------- ---------
<S> <C> <C> <C>
1Q 2000
Dover Park Plaza - - 1966
</TABLE>
(1) S - Shopping Center
(2) Existing property NOI in place as of closing date of acquisition.
(3) As of closing date of acquisition.
The above does not purport to disclose all items required under GAAP.
The Company's 10-K for the year ended December 31, 1999 and 10-Q for the
quarters ended September 30, 2000, June 30, 2000 and March 31, 2000 should be
read in conjunction with the above information.
<PAGE> 16
NEW PLAN EXCEL REALTY TRUST, INC.
SUPPLEMENTAL DISCLOSURE - QUARTER ENDED SEPTEMBER 30, 2000
--------------------------------------------------------------------------------
2000 PROPERTY DISPOSITIONS PAGE 15
(IN THOUSANDS)
<TABLE>
<CAPTION>
Property Sale Sale Book Gain / Cap-
Property Name Type (1) Location Date Amount Value (Loss) (2) Rate
-------------------- ---------- ------------------ ---------- ---------- ---------- ------------ -------
<S> <C> <C> <C> <C> <C> <C> <C>
2Q 2000
Northland Center S State College, PA 05/01/00 $ 9,000 $ 6,054 $ 2,610 9.6%
York Marketplace S York, PA 05/01/00 22,438 16,024 4,844 9.0%
Pizza Hut T Greenville, NC 06/22/00 400 165 234 9.5%
Piney Grove Plaza S Kernersville, NC 06/30/00 2,750 2,391 227 10.1%
---------- ---------- ------------
TOTAL $ 34,588 $ 24,634 $ 7,915
========== ========== ============
3Q 2000
The Kroger Co. T Pittsburgh, PA 08/17/00 $ 2,261 $ 2,242 $ (117) 11.1%
Kindercare T Fenton, MO 08/22/00 186 183 (31) 12.5%
Wabash Valley Plaza S Terre Haute, IN 09/08/00 4,600 3,159 1,426 6.8%
St. Mary's Plaza S St. Mary's, PA 09/13/00 4,650 4,466 (93) 10.9%
---------- ---------- ------------
TOTAL $ 11,697 $ 10,050 $ 1,185
========== ========== ============
</TABLE>
<TABLE>
<CAPTION>
Property Sale Percent Year
Property Name Type (1) Location Date NOI (3) GLA Leased (4) Built
-------------------- ---------- ------------------ ---------- ---------- ---------- ------------- ----------
<S> <C> <C> <C> <C> <C> <C> <C>
2Q 2000
Northland Center S State College, PA 05/01/00 $ 868 108,241 100% 1988
York Marketplace S York, PA 05/01/00 2,024 300,368 99% 1955
Pizza Hut T Greenville, NC 06/22/00 38 3,640 100% 1973
Piney Grove Plaza S Kernersville, NC 06/30/00 278 49,709 86% 1988
----------
TOTAL $ 3,208
==========
3Q 2000
The Kroger Co. T Pittsburgh, PA 08/17/00 $ 251 34,026 100% 1982
Kindercare T Fenton, MO 08/22/00 23 4,659 100% 1977
Wabash Valley Plaza S Terre Haute, IN 09/08/00 315 79,077 84% 1989
St. Mary's Plaza S St. Mary's, PA 09/13/00 506 107,950 96% 1970
----------
TOTAL $ 1,095
==========
</TABLE>
(1) S - Shopping Center, T - Single Tenant
(2) Includes deferred straight line rent receivable.
(3) Projected recurring property NOI as of closing date of sale.
(4) As of closing date of sale.
The above does not purport to disclose all items required under GAAP.
The Company's 10-K for the year ended December 31, 1999 and 10-Q for the
quarters ended September 30, 2000, June 30, 2000 and March 31, 2000 should be
read in conjunction with the above information.
<PAGE> 17
NEW PLAN EXCEL REALTY TRUST, INC.
SUPPLEMENTAL DISCLOSURE - QUARTER ENDED SEPTEMBER 30, 2000
--------------------------------------------------------------------------------
REMODELING / EXPANSION ACTIVITIES PAGE 16
<TABLE>
<CAPTION>
Adjusted
Year Year GLA/
Location Built Acquired Project Description Units
----------------- ---------------- ------------ --------------------------------------------------- ----------
<S> <C> <C> <C> <C> <C>
RETAIL PORTFOLIO
Fruitland Plaza Salisbury, MD 1973 1986 Conversion of a single use space into a 101,595
shopping center anchored by a 40,000 sq. ft. Food
Lion.
Middletown Plaza Middletown, NJ 1972 1975 Construction of a new 78,000 sq. ft. Shoprite, 198,558
renovation of an existing 36,000 sq. ft. space
and facade replacement.
Maple Village Ann Arbor, MI 1965 1994 Construction of a 7,200 sq. ft. multiple tenant 288,046
space on outparcel of which 5,000 sq. ft. is
leased to Blockbuster.
New Boston New Boston, OH 1991 1993 Construction of a 5,000 sq. ft. single tenant 243,711
space on outparcel.
Delta Center Lansing, MI 1985 1995 Construction of a new 54,000 sq. ft. Farmer 227,619
Jack. In final design and permitting stage, with
construction start dependent on obtaining
permits.
GARDEN APARTMENT COMMUNITIES
Charlestown Louisville, KY 1974 1993 New siding, trim paint, windows and parking lot. 244
Eastgreen On The Reynoldsburg, OH 1971, 82 1998 Exterior and patio renovations. 360
Commons
Hickory Lake Antioch, TN 1974 1993 Painting, roofing, guttering, landscaping and 322
parking lot.
Northgate Columbus, OH 1970 1998 Exterior renovation, roof work, recreation courts 316
and landscaping.
Ashford Place Clarksville, TN 1972, 74 1993 Exterior remodel, windows, wood replacement, 268
guttering, tennis courts and landscaping.
The Landings Columbia, SC 1968 1999 Hallway renovations and recreation courts. 176
at Forest Acres
Mayfair Dover, DE 1971 1981 Exterior renovation. 96
Sherwood Acres Baton Rouge, LA 1978, 79 1996 Exterior remodel, roofs, downspouts and parking lot. 612
Devonshire Place Birmingham, AL 1971 1992 Exterior renovation. 284
Sedgefield Florence, SC 1972, 74, 79 1994 Exterior renovation. 280
Tara Athens, GA 1970 1996 Exterior and hallway renovations. 240
Goldcrest Sharonville, OH 1968 1996 Hallway renovations and playground. 173
</TABLE>
<TABLE>
<CAPTION>
Construction
--------------------------------------------------- Expected Expected
Percent Expected Expected Percent Total Stabilized
Leased (1) Start Date Completion Date Complete Project Cost (2) Return on Cost
------------ ----------------- -------------------- ------------ ------------------- ----------------
<S> <C> <C> <C> <C> <C> <C>
RETAIL PORTFOLIO
Fruitland Plaza 48% Apr-99 Mar-01 85% $ 4,800,000 14.4%
Middletown Plaza 94% Jun-00 Nov-01 10% 10,000,000 12.1%
Maple Village 91% Sep-00 Jun-01 0% 1,000,000 12.8%
New Boston 100% Sep-00 Apr-01 50% 500,000 14.6%
Delta Center 76% Jan-01 Dec-01 0% 6,200,000 11.2%
GARDEN APARTMENT COMMUNITIES
Charlestown 96% Feb-99 Jun-00 100% 434,000 11.9%
Eastgreen On The 78% Feb-99 Jun-00 100% 1,840,217 12.3%
Commons
Hickory Lake 89% Feb-99 Mar-00 100% 1,277,530 10.5%
Northgate 90% Mar-99 Jul-00 100% 1,914,285 10.5%
Ashford Place 97% Apr-99 Apr-00 100% 1,926,943 10.4%
The Landings 90% Feb-00 Oct-00 98% 258,500 12.7%
at Forest Acres
Mayfair 90% Mar-00 Dec-00 95% 321,000 11.7%
Sherwood Acres 82% May-00 Dec-01 20% 3,356,000 11.2%
Devonshire Place 80% Jul-00 Oct-00 95% 306,000 10.0%
Sedgefield 90% Jul-00 Dec-00 75% 1,200,000 11.7%
Tara 95% Jul-00 Nov-00 35% 500,000 12.2%
Goldcrest 91% Aug-00 Mar-01 10% 308,000 14.5%
</TABLE>
(1) Includes all leases that have commenced and are in force as of September 30,
2000 and is based on current GLA, not adjusted GLA.
(2) Includes imputed land value and financing costs.
The above does not purport to disclose all items required under GAAP.
The Company's 10-K for the year ended December 31, 1999 and 10-Q for the
quarters ended September 30, 2000, June 30, 2000 and March 31, 2000 should be
read in conjunction with the above information.
<PAGE> 18
NEW PLAN EXCEL REALTY TRUST, INC.
SUPPLEMENTAL DISCLOSURE - QUARTER ENDED SEPTEMBER 30, 2000
--------------------------------------------------------------------------------
PROPERTY TYPE SUMMARY PAGE 17
<TABLE>
<CAPTION>
# of Percent Leased
Properties GLA Leased GLA
------------ ------------------ ------------------ ----------------------
<S> <C> <C> <C> <C>
RETAIL PORTFOLIO (1)
Shopping Centers 230 34,153,754 91% 31,172,287
Single Tenant Properties 56 1,674,511 94% 1,572,830
COMMERCIAL PROPERTIES 7 165,969 97% 161,074
TOTAL RETAIL PORTFOLIO ------------ ------------------ ------------------ ----------------------
AND COMMERCIAL PROPERTIES 293 35,994,234 91% 32,906,191
============ ================== ================== ======================
<CAPTION>
# of # of Percent Leased
Communities Units Leased Units
------------ ------------------ ------------------ ----------------------
<S> <C> <C> <C> <C>
GARDEN APARTMENT COMMUNITIES 53 12,558 91% 11,414
------------
TOTAL PORTFOLIO 346
============
SHOPPING CENTERS ANCHOR,
NON-ANCHOR TENANT MIX: (2)
<CAPTION>
ABR
------------------------------------------
Percent of Percent of
Leased Shopping Centers Shopping Centers
GLA Leased GLA Amount ABR
------------ ------------------ ------------------ ----------------------
<S> <C> <C> <C> <C>
Anchor Tenants 15,907,853 54.6% $ 88,088,580 40.9%
Non-anchor Tenants 13,254,015 45.4% 127,192,891 59.1%
------------ ------------------ ------------------ ----------------------
29,161,868 100.0% $ 215,281,471 100.0%
============ ================== ================== ======================
</TABLE>
<TABLE>
<CAPTION>
Annual Base Rent (ABR) Quarterly NOI
-------------------------------------------- --------------------------------------
Percent of Percent of
Company Company
Amount ABR Amount NOI
------------------------ ------------------ --------------------- --------------
<S> <C> <C> <C> <C>
RETAIL PORTFOLIO (1)
Shopping Centers $ 244,332,755 72.8% $ 57,464,116 83.3%
Single Tenant Properties 9,617,619 2.9% 2,420,975 3.5%
COMMERCIAL PROPERTIES 1,927,478 0.6% 343,547 0.5%
TOTAL RETAIL PORTFOLIO ------------------------ ------------------ --------------------- --------------
AND COMMERCIAL PROPERTIES $ 255,877,852 76.2% $ 60,228,638 87.3%
======================== ================== ===================== ==============
<CAPTION>
ABR Quarterly NOI
-------------------------------------------- --------------------------------------
Percent of Percent of
Company Company
Amount ABR Amount NOI
------------------------ ------------------ --------------------- --------------
<S> <C> <C> <C> <C>
GARDEN APARTMENT COMMUNITIES $ 79,718,376 23.8% $ 8,734,385 12.7%
------------------------ ------------------ --------------------- --------------
TOTAL PORTFOLIO $ 335,596,228 100.0% $ 68,963,023 100.0%
======================== ================== ===================== ==============
SHOPPING CENTERS ANCHOR,
NON-ANCHOR TENANT MIX: (2)
</TABLE>
(1) Does not include Clearwater Mall (679,661 square feet), a property with
redevelopment plans under reevaluation.
(2) Anchor tenants are defined on a property by property basis. Analysis
excludes Clearwater and Valley Fair Malls and factory outlets.
The above does not purport to disclose all items required under GAAP.
The Company's 10-K for the year ended December 31, 1999 and 10-Q for the
quarters ended September 30, 2000, June 30, 2000 and March 31, 2000 should be
read in conjunction with the above information.
<PAGE> 19
NEW PLAN EXCEL REALTY TRUST, INC.
SUPPLEMENTAL DISCLOSURE - QUARTER ENDED SEPTEMBER 30, 2000
--------------------------------------------------------------------------------
PROPERTIES BY STATE / REGION PAGE 18
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------
RETAIL PORTFOLIO AND COMMERCIAL PROPERTIES (1)
--------------------------------------------------------------------------------------------
Percent of
Number of Percent Scheduled
State Properties Leased GLA ABR
-------------------- ------------------------ ---------------- --------------------- --------------------
<S> <C> <C> <C> <C>
Alabama 7 99% 760,014 1.7%
Arizona 12 93% 1,107,723 3.6%
Arkansas 2 100% 105,459 0.2%
California 17 92% 2,505,308 10.2%
Colorado 2 96% 352,156 1.6%
Delaware 2 85% 243,686 0.4%
Florida 18 92% 2,696,568 7.8%
Georgia 34 90% 3,092,184 7.1%
Illinois 10 99% 1,228,550 4.4%
Indiana 13 92% 886,528 1.8%
Iowa 5 93% 604,896 1.3%
Kentucky 9 91% 1,456,230 3.4%
Louisiana 2 78% 261,518 0.4%
Maryland 3 77% 380,531 1.0%
Michigan 13 91% 2,114,331 6.2%
Minnesota 3 99% 85,898 0.5%
Missouri 3 84% 722,131 4.1%
Nebraska 3 100% 70,513 0.2%
Nevada 3 98% 587,388 2.0%
New Jersey 10 99% 1,190,505 4.7%
New York 26 88% 3,439,389 7.9%
North Carolina 15 94% 1,747,855 3.9%
Ohio 22 87% 3,186,123 7.0%
Oklahoma 1 100% 45,510 0.1%
Pennsylvania 14 93% 1,737,238 5.3%
South Carolina 5 96% 375,698 1.1%
Tennessee 16 93% 1,872,537 4.6%
Texas 7 100% 500,986 1.6%
Utah 1 84% 600,584 1.2%
Virginia 12 90% 1,681,258 3.8%
West Virginia 3 94% 354,939 0.8%
------------------------ ---------------- --------------------- --------------------
293 91% 35,994,234 100%
======================== ================ ===================== ====================
REGION
------------------------
East 99 91% 12,607,329 32.2%
Midwest 72 91% 8,898,970 25.4%
South 87 92% 9,334,776 23.7%
West 35 92% 5,153,159 18.7%
------------------------ ---------------- --------------------- --------------------
293 91% 35,994,234 100%
======================== ================ ===================== ====================
</TABLE>
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------
GARDEN APARTMENT COMMUNITIES
----------------------------------------------------------------------------------
Total Percent of
Number of Percent Number of Scheduled
State Properties Leased Units ABR
-------------------- ---------------- ---------------- ------------------ --------------------
<S> <C> <C> <C> <C>
Alabama 9 91% 2,269 16.8%
Arizona
Arkansas
California
Colorado
Delaware 2 84% 303 2.3%
Florida 2 93% 539 5.2%
Georgia 2 97% 420 3.3%
Illinois
Indiana 3 83% 893 6.6%
Iowa
Kentucky 4 94% 783 6.8%
Louisiana 3 90% 1,244 9.4%
Maryland
Michigan
Minnesota
Missouri 1 94% 309 2.7%
Nebraska
Nevada
New Jersey
New York 2 95% 308 2.2%
North Carolina 2 95% 463 4.6%
Ohio 7 88% 1,601 13.6%
Oklahoma
Pennsylvania 1 93% 130 1.1%
South Carolina 4 91% 816 6.2%
Tennessee 11 93% 2,480 18.9%
Texas
Utah
Virginia
West Virginia
---------------- ---------------- ------------------ --------------------
53 91% 12,558 100%
================ ================ ================== ====================
REGION
-----------------
East 15 92% 2,803 23.2%
Midwest 11 87% 2,803 22.8%
South 27 92% 6,952 54.0%
West - - - -
---------------- ---------------- ------------------ --------------------
53 91% 12,558 100%
================ ================ ================== ====================
</TABLE>
(1) Does not include Clearwater Mall (679,661 square feet), a property with
redevelopment plans under reevaluation.
The above does not purport to disclose all items required under GAAP.
The Company's 10-K for the year ended December 31, 1999 and 10-Q for the
quarters ended September 30, 2000, June 30, 2000 and March 31, 2000 should be
read in conjunction with the above information.
<PAGE> 20
NEW PLAN EXCEL REALTY TRUST, INC.
SUPPLEMENTAL DISCLOSURE - QUARTER ENDED SEPTEMBER 30, 2000
-------------------------------------------------------------------------------
SAME PROPERTY NOI ANALYSIS
(IN THOUSANDS, EXCEPT PROPERTY STATISTICS) PAGE 19
<TABLE>
<CAPTION>
Three Months Ended Three Months Ended
------------------------------- Percent ---------------------------- Percent
9/30/00 9/30/99 Change 6/30/00 6/30/99 Change
-------------- ---------------- ----------- -------------- ------------- -----------
<S> <C> <C> <C> <C> <C> <C>
ANALYSIS SPECIFIC PROPERTY STATISTICS:
Number of properties included in analysis
Retail portfolio and commercial
properties 283 283 289 289
Garden apartment communities 36 36 39 39
-------------- ---------------- -------------- -------------
319 319 328 328
Retail portfolio and commercial properties
Gross leasable area 33,848,000 33,848,000 34,868,000 34,868,000
Percent leased 91.5% 92.3% -0.8% 92.0% 92.0% 0.0%
Garden apartment communities
Number of units 8,228 8,228 8,927 8,927
Percent leased 91.6% 91.5% 0.1% 90.1% 90.0% 0.1%
NEW PLAN EXCEL REALTY TRUST:
Property revenues $ 86,832 $ 88,023 -1.4% $ 91,702 $ 90,085 1.8%
Property operating expenses 25,129 27,446 -8.4% 27,871 27,174 2.6%
-------------- ---------------- ----------- -------------- ------------- -----------
SAME PROPERTY NOI (GAAP BASIS) $ 61,703 $ 60,577 1.9% $ 63,831 $ 62,911 1.5%
============== ================ =========== ============== ============= ===========
Operating margin (GAAP basis) 71.1% 68.8% 2.2% 69.6% 69.8% -0.2%
Straight-line rent adjustment 521 879 -40.7% 722 698 3.4%
-------------- ---------------- ----------- -------------- ------------- -----------
SAME PROPERTY NOI $ 61,182 $ 59,698 2.5% $ 63,109 $ 62,213 1.4%
============== ================ =========== ============== ============= ===========
Operating margin 70.5% 67.8% 2.6% 68.8% 69.1% -0.2%
RETAIL PORTFOLIO AND COMMERCIAL
PROPERTIES:
Property revenues $ 74,353 $ 75,715 -1.8% $ 78,201 $ 76,842 1.8%
Property operating expenses 18,445 20,738 -11.1% 21,066 20,513 2.7%
-------------- ---------------- ----------- -------------- ------------- -----------
SAME PROPERTY NOI (GAAP BASIS) $ 55,908 $ 54,977 1.7% $ 57,135 $ 56,329 1.4%
============== ================ =========== ============== ============= ===========
Operating margin (GAAP basis) 75.2% 72.6% 2.6% 73.1% 73.3% -0.2%
Straight-line rent adjustment 521 879 -40.7% 722 698 3.4%
-------------- ---------------- ----------- -------------- ------------- -----------
SAME PROPERTY NOI $ 55,387 $ 54,098 2.4% $ 56,413 $ 55,631 1.4%
============== ================ =========== ============== ============= ===========
Operating margin 74.5% 71.4% 3.0% 72.1% 72.4% -0.3%
GARDEN APARTMENT COMMUNITIES:
Property revenues $ 12,479 $ 12,308 1.4% $ 13,501 $ 13,243 1.9%
Property operating expenses 6,684 6,708 -0.4% 6,805 6,661 2.2%
-------------- ---------------- ----------- -------------- ------------- -----------
SAME PROPERTY NOI (GAAP BASIS) $ 5,795 $ 5,600 3.5% $ 6,696 $ 6,582 1.7%
============== ================ =========== ============== ============= ===========
Operating margin (GAAP basis) 46.4% 45.5% 0.9% 49.6% 49.7% -0.1%
Straight-line rent adjustment - - 0.0% - - 0.0%
-------------- ---------------- ----------- -------------- ------------- -----------
SAME PROPERTY NOI $ 5,795 $ 5,600 3.5% $ 6,696 $ 6,582 1.7%
============== ================ =========== ============== ============= ===========
Operating margin 46.4% 45.5% 0.9% 49.6% 49.7% -0.1%
</TABLE>
<TABLE>
<CAPTION>
Three Months Ended
---------------------------- Percent
3/31/00 3/31/99 Change
------------- -------------- ----------------------
<S> <C> <C> <C>
ANALYSIS SPECIFIC PROPERTY STATISTICS:
Number of properties included in analysis
Retail portfolio and commercial
properties 293 293
Garden apartment communities 42 42
------------- --------------
335 335
Retail portfolio and commercial properties
Gross leasable area 34,991,000 34,991,000
Percent leased 92.0% 92.0% 0.0%
Garden apartment communities
Number of units 9,755 9,755
Percent leased 91.0% 91.0% 0.0%
NEW PLAN EXCEL REALTY TRUST:
Property revenues $ 93,513 $ 93,425 0.1%
Property operating expenses 29,090 29,686 -2.0%
------------- -------------- ----------------------
SAME PROPERTY NOI (GAAP BASIS) $ 64,423 $ 63,739 1.1%
============= ============== ======================
Operating margin (GAAP basis) 68.9% 68.2% 0.7%
Straight-line rent adjustment 691 985 -29.8%
------------- -------------- ----------------------
SAME PROPERTY NOI $ 63,732 $ 62,754 1.6%
============= ============== ======================
Operating margin 68.2% 67.2% 1.0%
RETAIL PORTFOLIO AND COMMERCIAL
PROPERTIES:
Property revenues $ 79,102 $ 79,087 0.0%
Property operating expenses 21,479 22,370 -4.0%
------------- -------------- ----------------------
SAME PROPERTY NOI (GAAP BASIS) $ 57,623 $ 56,717 1.6%
============= ============== ======================
Operating margin (GAAP basis) 72.8% 71.7% 1.1%
Straight-line rent adjustment 691 985 -29.8%
------------- -------------- ----------------------
SAME PROPERTY NOI $ 56,932 $ 55,732 2.2%
============= ============== ======================
Operating margin 72.0% 70.5% 1.5%
GARDEN APARTMENT COMMUNITIES:
Property revenues $ 14,411 $ 14,338 0.5%
Property operating expenses 7,611 7,316 4.0%
------------- -------------- ----------------------
SAME PROPERTY NOI (GAAP BASIS) $ 6,800 $ 7,022 -3.2%
============= ============== ======================
Operating margin (GAAP basis) 47.2% 49.0% -1.8%
Straight-line rent adjustment - - 0.0%
------------- -------------- ----------------------
SAME PROPERTY NOI $ 6,800 $ 7,022 -3.2%
============= ============== ======================
Operating margin 47.2% 49.0% -1.8%
</TABLE>
NOI is defined as Property revenues less Property operating expenses,
excluding depreciation and amortization and interest expense. Same store
excludes properties that have or are undergoing remodeling or expansion and
includes only properties owned for the full quarters.
Same property revenues and NOI for the three months ended September 30, 1999
has been increased by $1.58 million to reflect the adjustment for the $1.75
million overstatement of CAM revenue in 2Q 1999 which was corrected in 3Q
1999.
Analysis excludes Clearwater and Valley Fair Malls.
The above does not purport to disclose all items required under GAAP.
The Company's 10-K for the year ended December 31, 1999 and 10-Q for the
quarters ended September 30, 2000, June 30, 2000 and March 31, 2000 should be
read in conjunction with the above information.
<PAGE> 21
NEW PLAN EXCEL REALTY TRUST, INC.
SUPPLEMENTAL DISCLOSURE - QUARTER ENDED SEPTEMBER 30, 2000
-------------------------------------------------------------------------------
TOP TEN TENANTS PAGE 20
<TABLE>
<CAPTION>
ABR as a
Percentage of
Number of Total
Tenant Leases GLA ABR Portfolio ABR
---------------------------------- ------------- ------------- -------------- ----------------
<S> <C> <C> <C> <C>
1 Kmart Corporation 43 3,885,863 $ 17,591,701 5.2%
2 Wal-Mart Stores 27 2,881,411 12,534,233 3.7%
3 The Kroger Co. (1) 25 1,239,897 8,322,271 2.5%
4 Winn-Dixie Stores 18 804,556 5,055,437 1.5%
5 Ahold USA (2) 13 619,237 4,628,912 1.4%
6 The TJX Companies (3) 17 525,614 3,497,230 1.0%
7 Food Lion 17 507,747 3,322,991 1.0%
8 Albertson's (4) 20 706,425 3,145,193 0.9%
9 Publix Super Markets 8 423,388 2,500,903 0.7%
10 J.C. Penney Company (5) 24 548,409 2,285,221 0.7%
------------- ------------- --------------- ----------------
212 12,142,547 $ 62,884,092 18.7%
============= ============= =============== ================
</TABLE>
(1) Includes Ralphs and The Kroger Co.
(2) Includes BI-LO, Edwards Super Foods, Giant Food Stores, Stop & Shop and
Tops Market.
(3) Includes T.J. Maxx and Marshalls.
(4) Includes Albertson's, Acme Markets, Eagle Food Center and Lucky
stores.
(5) Includes JC Penney and Eckerd Drugstores.
The above does not purport to disclose all items required under GAAP.
The Company's 10-K for the year ended December 31, 1999 and 10-Q for the
quarters ended September 30, 2000, June 30, 2000 and March 31, 2000 should be
read in conjunction with the above information.
<PAGE> 22
NEW PLAN EXCEL REALTY TRUST, INC.
SUPPLEMENTAL DISCLOSURE - QUARTER ENDED SEPTEMBER 30, 2000
-------------------------------------------------------------------------------
NEW LEASE SUMMARY PAGE 21
NEW LEASE SUMMARY
<TABLE>
<CAPTION>
Tenant
Total New Improvements
Number GLA ABR Committed
------------------------------ -------------- --------------
<S> <C> <C> <C> <C>
1Q 2000 97 214,730 $ 2,591,102 $ 550,000
psf 12.07 2.56
2Q 2000 52 183,915 $ 2,288,786 $ 3,000,000
psf 12.44 16.31
3Q 2000 58 221,934 $ 2,249,549 $ 886,453
psf 10.14 3.99
</TABLE>
RENEWAL LEASE SUMMARY
<TABLE>
<CAPTION>
Total Former Total New Increase/(Decrease)
Number GLA ABR ABR Total Dollar Percent
------------------------------ -------------- -------------- ------------- -----------
<S> <C> <C> <C> <C> <C> <C>
1Q 2000 114 657,377 $ 4,561,317 $ 4,830,226 $ 268,909 5.9%
psf 6.94 7.35 0.41
2Q 2000 71 572,249 $ 3,445,556 $ 3,508,751 $ 63,195 1.8%
psf 6.02 6.13 0.11
3Q 2000 63 258,161 $ 2,379,303 $ 2,660,527 $ 281,224 11.8%
psf 9.22 10.31 1.09
</TABLE>
Renewal leases include expiring leases renewed with the same tenant and the
exercise of options. All other leases are categorized as new.
Data includes leases that have commenced and are in force as of March 31,
2000, June 30, 2000 and September 30, 2000.
Does not include Clearwater Mall (679,661 square feet), a property with
redevelopment plans under reevaluation, or apartments.
The above does not purport to disclose all items required under GAAP.
The Company's 10-K for the year ended December 31, 1999 and 10-Q for the
quarters ended September 30, 2000, June 30, 2000 and March 31, 2000 should be
read in conjunction with the above information.
<PAGE> 23
NEW PLAN EXCEL REALTY TRUST, INC.
SUPPLEMENTAL DISCLOSURE - QUARTER ENDED SEPTEMBER 30, 2000
-------------------------------------------------------------------------------
LEASE EXPIRATION SCHEDULE PAGE 22
<TABLE>
<CAPTION>
Number of Leased Percent of ABR Percent of
Leases Expiring GLA GLA per Foot Total ABR
--------------------- -------------- ----------- ----------- -------------
<S> <C> <C> <C> <C> <C>
2000 450 1,411,418 4.29% $ 7.49 4.13%
2001 756 2,785,623 8.47% 9.24 10.06%
2002 704 3,196,510 9.71% 8.67 10.83%
2003 581 3,230,875 9.82% 8.28 10.46%
2004 408 2,300,665 6.99% 9.17 8.25%
2005 303 3,055,368 9.29% 7.25 8.66%
2006 135 1,737,907 5.28% 8.06 5.48%
2007 100 1,231,094 3.74% 9.16 4.41%
2008 84 1,170,826 3.56% 8.25 3.78%
2009 79 1,823,073 5.54% 6.21 4.42%
2010+ 286 10,962,832 33.32% 6.89 29.53%
--------------------- ------------ ----------- ----------- -------------
3,886 32,906,191 100.0% $ 7.78 100.0%
===================== ============ =========== =========== =============
</TABLE>
Does not assume exercise of renewal options or base rent escalations over
lease term.
Does not include Clearwater Mall (679,661 square feet), a property with
redevelopment plans under reevaluation, or apartments.
The above does not purport to disclose all items required under GAAP.
The Company's 10-K for the year ended December 31, 1999 and 10-Q for the
quarters ended September 30, 2000, June 30, 2000 and March 31, 2000 should be
read in conjunction with the above information.
<PAGE> 24
NEW PLAN EXCEL REALTY TRUST, INC.
SUPPLEMENTAL DISCLOSURE - QUARTER ENDED SEPTEMBER 30, 2000
-------------------------------------------------------------------------------
PROPERTY PORTFOLIO PAGE 23
<TABLE>
<CAPTION>
Year Date
Property Name City State Built Acquired
------------------------------------------ ------------------- -------------- -------------------- ------------------
<S> <C> <C> <C> <C>
RETAIL PORTFOLIO
Shopping Centers
1 Cloverdale Village Florence AL 1986 10/27/94
2 Riverview Plaza Gadsden AL 1990 10/12/95
3 Grant Mills Station Irondale AL 1991 07/01/98
4 Payton Park Sylacauga AL 1995 07/01/98
5 Glendale Galleria Glendale AZ 1989-91 08/01/97
6 Kmart Plaza Mesa AZ 1970 12/28/90
7 SunValley Plaza Mesa AZ 1981 05/31/94
8 Southern Village Mesa Mesa AZ 1986-97 08/01/97
9 Metro Marketplace Phoenix AZ 1988 06/21/91
10 Northmall Centre Tucson AZ 1995-96 12/31/96
11 Bakersfield Plaza Bakersfield CA 1970 06/20/97
12 Factory Merchants - Barstow Barstow CA 1989 11/01/93
13 Sony/Kinko Burbank CA 1988 05/01/89
14 Carmen Plaza Camarillo CA 1971 06/20/97
15 Coachella Plaza Coachella CA 1991 06/20/97
16 Cudahy Plaza Cudahy CA 1968 06/20/97
17 Broadway Faire Fresno CA 1995 04/09/97
18 Arbor Faire Fresno CA 1993 04/09/97
19 Briggsmore Plaza Modesto CA 1974 06/20/97
20 Montebello Plaza Montebello CA 1974 06/20/97
21 Metro 580 Shopping Center Pleasanton CA 1995-96 09/15/97
22 Rose Pavilion Shopping Center Pleasanton CA 1987 02/27/98
23 Bristol Plaza Santa Ana CA 1972 06/20/97
24 San Dimas Plaza San Dimas CA 1986 10/07/97
25 Vail Ranch Center Temecula CA 1997 12/31/97
26 Paradise Plaza Paradise CA 1979 06/20/97
27 Westminster City Center Westminster CO 1996 12/16/97
28 Rodney Village Dover DE 1959 01/01/69
29 Brooksville Square Brooksville FL 1987 03/28/94
30 Northgate S.C. Deland FL 1993 06/30/93
31 Regency Park Jacksonville FL 1985 06/16/97
32 Eastgate S.C. Lakewales FL 1994 05/20/94
33 Leesburg Square Leesburg FL 1986 12/23/92
34 Miami Gardens Miami FL 1996 10/06/97
35 Freedom Square Naples FL 1995 10/06/97
36 Presidential West North Lauderdale FL 1977 04/18/97
37 Presidential Plaza North Lauderdale FL 1977 04/18/97
38 Southgate New Port Ritchie FL 1966 08/27/97
39 Colonial Marketplace Orlando FL 1979,86 04/01/98
40 23rd Street Plaza Panama City FL 1986 07/01/98
41 Riverwood Port Orange FL 1984,96 09/05/97
42 Seminole Plaza Seminole FL 1964 06/11/98
43 St. Augustine Outlet Center St. Augustine FL 1991 03/01/92
44 Rutland Plaza St. Petersburg FL 1964 11/01/96
45 Albany Plaza Albany GA 1968 05/12/94
46 Southgate Plaza Albany GA 1969 07/11/90
47 Eastgate Plaza Americus GA 1980 07/11/90
48 Perlis Plaza Americus GA 1972 07/11/90
49 Rogers Plaza Ashburn GA 1974 07/11/90
50 Sweetwater Village Austell GA 1985 10/27/94
51 Cedar Plaza Cedartown GA 1994 10/27/94
52 Cedartown Cedartown GA 1989 01/10/95
</TABLE>
<TABLE>
<CAPTION>
Percent
Property Name GLA Leased (1) ABR
------------------------------------------- --------------------- ------------- -----------------
<S> <C> <C> <C>
RETAIL PORTFOLIO
Shopping Centers
1 Cloverdale Village 59,407 100% $ 377,578
2 Riverview Plaza 147,621 100% 900,150
3 Grant Mills Station 226,837 97% 1,268,570
4 Payton Park 231,820 100% 1,395,136
5 Glendale Galleria 119,465 94% 1,168,205
6 Kmart Plaza 182,933 100% 737,313
7 SunValley Plaza 107,085 64% 540,301
8 Southern Village Mesa 84,160 89% 620,505
9 Metro Marketplace 251,175 91% 2,313,682
10 Northmall Centre 168,719 100% 1,588,390
11 Bakersfield Plaza 213,379 88% 1,743,536
12 Factory Merchants - Barstow 333,506 78% 5,033,897
13 Sony/Kinko 14,176 100% 404,363
14 Carmen Plaza 129,255 94% 1,069,658
15 Coachella Plaza 11,184 100% 178,447
16 Cudahy Plaza 138,430 100% 664,242
17 Broadway Faire 60,383 95% 931,418
18 Arbor Faire 199,986 78% 1,580,342
19 Briggsmore Plaza 98,945 81% 560,811
20 Montebello Plaza 288,390 96% 2,310,368
21 Metro 580 Shopping Center 174,584 100% 2,356,412
22 Rose Pavilion Shopping Center 292,902 98% 4,551,498
23 Bristol Plaza 112,379 98% 1,066,405
24 San Dimas Plaza 119,159 98% 1,623,065
25 Vail Ranch Center 99,204 100% 1,011,148
26 Paradise Plaza 198,562 97% 692,822
27 Westminster City Center 339,600 100% 4,216,619
28 Rodney Village 213,686 82% 926,424
29 Brooksville Square 96,366 79% 605,284
30 Northgate S.C. 186,396 100% 1,276,523
31 Regency Park 329,496 92% 2,497,595
32 Eastgate S.C. 102,161 100% 597,367
33 Leesburg Square 91,682 96% 711,311
34 Miami Gardens 245,119 100% 2,247,802
35 Freedom Square 211,839 89% 1,486,952
36 Presidential West 21,035 68% 123,624
37 Presidential Plaza 67,269 92% 474,291
38 Southgate 262,912 71% 702,320
39 Colonial Marketplace 128,823 100% 980,333
40 23rd Street Plaza 99,756 99% 896,882
41 Riverwood 93,506 96% 438,956
42 Seminole Plaza 144,011 94% 578,612
43 St. Augustine Outlet Center 334,795 93% 4,694,267
44 Rutland Plaza 149,811 95% 952,211
45 Albany Plaza 114,169 100% 663,787
46 Southgate Plaza 59,816 80% 252,050
47 Eastgate Plaza 44,365 81% 184,555
48 Perlis Plaza 165,774 88% 751,228
49 Rogers Plaza 49,672 81% 202,634
50 Sweetwater Village 66,197 96% 455,058
51 Cedar Plaza 83,300 100% 558,062
52 Cedartown 107,220 100% 497,796
</TABLE>
<TABLE>
<CAPTION>
Anchor Tenant
Property Name Anchor Tenant Not Owned
--------------------------------------------- ---------------------------------------------- -----------------------
<S> <C> <C>
RETAIL PORTFOLIO
Shopping Centers
1 Cloverdale Village Winn-Dixie Stores
2 Riverview Plaza Wal-Mart
3 Grant Mills Station Wal-Mart
4 Payton Park Wal-Mart
5 Glendale Galleria Food 4 Less, Osco Drugs
6 Kmart Plaza Kmart
7 SunValley Plaza ABCO
8 Southern Village Mesa Mega Food
9 Metro Marketplace Office Max, Toys R' Us
10 Northmall Centre Comp USA, JC Penney, Stein Mart
11 Bakersfield Plaza Vons Mervyn's
12 Factory Merchants - Barstow Esprit, Gap, Polo, Timberland
13 Sony/Kinko Kinko's, Sony Electronics
14 Carmen Plaza 24 Hour Fitness Miller's Outpost
15 Coachella Plaza - Vons
16 Cudahy Plaza Kmart
17 Broadway Faire United Artists
18 Arbor Faire Home Depot, PetsMart Mervyn's
19 Briggsmore Plaza Canned Foods
20 Montebello Plaza Albertson's, Circuit City
21 Metro 580 Shopping Center Borders, Linens N Things, Staples
22 Rose Pavilion Shopping Center Levitz Furniture, Macy's Home Store
23 Bristol Plaza Lucky stores
24 San Dimas Plaza T.J. Maxx Payless Drugs, Ralphs
25 Vail Ranch Center Albertson's
26 Paradise Plaza Albertson's, Kmart
27 Westminster City Center Babies R Us, Circuit City, Homeplace
28 Rodney Village Farm Fresh
29 Brooksville Square Publix
30 Northgate S.C. Kmart, Publix
31 Regency Park Babies R Us, Marshalls, Rhodes Furniture
32 Eastgate S.C. Kmart Winn-Dixie Stores
33 Leesburg Square Publix
34 Miami Gardens Kmart, Winn-Dixie Stores
35 Freedom Square Kmart, Publix
36 Presidential West -
37 Presidential Plaza Winn-Dixie Stores
38 Southgate Publix
39 Colonial Marketplace Office Max, Service Merchandise Target
40 23rd Street Plaza Publix
41 Riverwood Winn-Dixie Stores
42 Seminole Plaza T.J. Maxx
43 St. Augustine Outlet Center Ann Taylor, Calvin Klein, Gap, Mikasa, Reebok
44 Rutland Plaza Winn-Dixie Stores
45 Albany Plaza Food Lion
46 Southgate Plaza -
47 Eastgate Plaza Beall's Outlet
48 Perlis Plaza Belk's, Piggly Wiggly
49 Rogers Plaza Piggly Wiggly
50 Sweetwater Village Winn-Dixie Stores
51 Cedar Plaza The Kroger Co.
52 Cedartown Wal-Mart
</TABLE>
<PAGE> 25
NEW PLAN EXCEL REALTY TRUST, INC.
SUPPLEMENTAL DISCLOSURE - QUARTER ENDED SEPTEMBER 30, 2000
------------------------------------------------------------------------------
PROPERTY PORTFOLIO PAGE 24
<TABLE>
<CAPTION>
Year Date
Property Name City State Built Acquired
--------------------------------------------- ---------------------- -------------- -------------------- ---------------
<S> <C> <C> <C> <C>
53 Mr. B's Cordele GA 1968 07/11/90
54 Cordele Square Cordele GA 1968 07/11/90
55 Southgate Plaza Cordele GA 1969 07/11/90
56 Habersham Village Cornelia GA 1985 05/06/92
57 Habersham Crossing Cornelia GA 1990 03/01/96
58 Covington Gallery Covington GA 1991 12/30/93
59 Market Central Dalton GA 1994 03/31/97
60 Northside Plaza Dalton GA 1990 10/11/95
61 Midway Village Douglasville GA 1989 05/01/97
62 Westgate Dublin GA 1974 07/11/90
63 Marshalls at Eastlake Marietta GA 1982 10/26/98
64 New Chastain Corners Marietta GA 1990 07/17/97
65 Pavilions at Eastlake Marietta GA 1986 03/01/99
66 Village at Southlake Morrow GA 1983 04/13/98
67 Perry Marketplace Perry GA 1992 12/30/92
68 Creekwood Rex GA 1990 05/01/97
69 Shops of Riverdale Riverdale GA 1995 02/15/96
70 Victory Square Savannah GA 1986 07/02/92
71 Eisenhower Square Savannah GA 1985 07/16/97
72 Wisteria Village Snellville GA 1985 10/11/95
73 University Commons Statesboro GA 1994 07/24/96
74 Tift-Town Tifton GA 1965 07/11/90
75 Westgate Tifton GA 1980 07/11/90
76 Haymarket Mall Des Moines IA 1968,79 05/12/95
77 Haymarket Square Des Moines IA 1971,79 05/12/95
78 Southfield Plaza Bridgeview IL 1958 12/03/96
79 King City Square Mt. Vernon IL 1994 07/01/98
80 Westridge Court Naperville IL 1990 07/18/97
81 Tinley Park Plaza Tinley Park IL 1973 09/20/95
82 Columbus Center Columbus IN 1964 12/01/88
83 Jasper Manor Jasper IN 1990 02/18/92
84 Valley View Plaza Marion IN 1989 03/28/94
85 Town Fair Princeton IN 1991 02/09/93
86 Wabash Crossing Wabash IN 1988 12/16/93
87 Woodland Plaza Warsaw IN 1989 03/28/94
88 Green River Campbellsville KY 1989 03/08/96
89 Kmart Plaza Elizabethtown KY 1992 02/04/93
90 Highland Commons Glasgow KY 1992 03/31/93
91 J*Town Center Jeffersontown KY 1959 10/21/88
92 Mist Lake Plaza Lexington KY 1993 07/01/98
93 London Marketplace London KY 1994 03/17/94
94 Picadilly Square Louisville KY 1973 04/25/89
95 Eastgate Middletown KY 1987 11/10/93
96 Lexington Road Plaza Versailles KY 1994 04/28/94
97 Lagniappe Village Shopping Center New Iberia LA 1990 07/01/98
98 Liberty Plaza Randallstown MD 1962 05/12/95
99 Rising Sun Towne Centre Rising Sun MD 1998 06/04/99
100 Fruitland Plaza Salisbury MD 1973 05/14/86
101 Maple Village Ann Arbor MI 1965 10/14/94
102 Farmington Crossroads Farmington MI 1986 12/11/95
103 Delta Center Lansing MI 1985 12/12/95
104 Hampton Village Centre Rochester Hills MI 1990 12/12/95
105 Fashion Corner Saginaw MI 1986 12/12/95
106 Hall Road Crossing Shelby MI 1985 12/12/95
</TABLE>
<TABLE>
<CAPTION>
Percent
Property Name GLA Leased (1) ABR
--------------------------------------------- ----------------------- ------------- -----------------
<S> <C> <C> <C>
53 Mr. B's 13,702 66% 48,051
54 Cordele Square 126,927 94% 548,893
55 Southgate Plaza 39,292 46% 59,474
56 Habersham Village 147,182 99% 725,000
57 Habersham Crossing 161,279 100% 791,098
58 Covington Gallery 174,857 96% 1,066,034
59 Market Central 34,000 100% 421,996
60 Northside Plaza 67,831 81% 404,936
61 Midway Village 73,328 81% 415,900
62 Westgate 190,629 73% 709,472
63 Marshalls at Eastlake 55,179 94% 435,388
64 New Chastain Corners 108,380 97% 1,020,743
65 Pavilions at Eastlake 159,088 94% 1,541,318
66 Village at Southlake 53,384 87% 437,258
67 Perry Marketplace 179,973 97% 1,160,506
68 Creekwood 69,778 100% 579,708
69 Shops of Riverdale 34,255 90% 363,609
70 Victory Square 168,514 98% 945,162
71 Eisenhower Square 125,120 97% 818,309
72 Wisteria Village 164,646 99% 1,067,879
73 University Commons 59,814 100% 547,701
74 Tift-Town 61,218 63% 161,796
75 Westgate 16,307 92% 100,981
76 Haymarket Mall 234,163 95% 1,071,945
77 Haymarket Square 266,525 89% 1,621,729
78 Southfield Plaza 199,947 100% 1,808,618
79 King City Square 94,428 100% 797,059
80 Westridge Court 446,182 97% 5,515,934
81 Tinley Park Plaza 283,470 99% 1,853,712
82 Columbus Center 270,227 79% 1,027,625
83 Jasper Manor 194,120 93% 933,493
84 Valley View Plaza 29,974 95% 285,863
85 Town Fair 113,939 100% 579,599
86 Wabash Crossing 166,992 100% 965,795
87 Woodland Plaza 31,008 92% 264,075
88 Green River 190,316 99% 904,378
89 Kmart Plaza 130,466 99% 739,860
90 Highland Commons 130,466 100% 746,167
91 J*Town Center 186,855 60% 711,935
92 Mist Lake Plaza 217,292 96% 1,596,762
93 London Marketplace 169,032 100% 1,062,099
94 Picadilly Square 96,370 83% 368,526
95 Eastgate 152,855 85% 1,260,488
96 Lexington Road Plaza 182,578 100% 1,247,148
97 Lagniappe Village Shopping Center 220,225 74% 896,017
98 Liberty Plaza 215,575 85% 1,475,179
99 Rising Sun Towne Centre 63,361 94% 572,480
100 Fruitland Plaza 101,595 48% 411,750
101 Maple Village 280,846 91% 1,331,299
102 Farmington Crossroads 84,310 87% 557,468
103 Delta Center 173,619 76% 1,198,251
104 Hampton Village Centre 460,268 99% 4,670,139
105 Fashion Corner 188,877 67% 975,160
106 Hall Road Crossing 175,182 93% 1,633,678
</TABLE>
<TABLE>
<CAPTION>
Anchor Tenant
Property Name Anchor Tenant Not Owned
---------------------------------------- ------------------------------------------------------ ------------------
<S> <C> <C>
53 Mr. B's -
54 Cordele Square Belk's, Harvey Foods
55 Southgate Plaza Beall's Outlet
56 Habersham Village Kmart, Winn-Dixie Stores
57 Habersham Crossing Wal-Mart
58 Covington Gallery Ingles, Kmart
59 Market Central - Wal-Mart
60 Northside Plaza BI-LO
61 Midway Village Winn-Dixie Stores
62 Westgate Bruno's
63 Marshalls at Eastlake Marshalls
64 New Chastain Corners The Kroger Co.
65 Pavilions at Eastlake The Kroger Co.
66 Village at Southlake Marshalls
67 Perry Marketplace The Kroger Co.
68 Creekwood Winn-Dixie Stores
69 Shops of Riverdale - Wal-Mart
70 Victory Square Food Lion
71 Eisenhower Square Food Lion
72 Wisteria Village Kmart
73 University Commons -
74 Tift-Town Beall's Outlet
75 Westgate -
76 Haymarket Mall Burlington Coat Factory, Hobby Lobby
77 Haymarket Square Dahl's Foods
78 Southfield Plaza Dominicks Foods, Hobby Lobby
79 King City Square Kroger
80 Westridge Court Cub Foods, Linen N Things, Cineplex, Old Navy, Spiegel
81 Tinley Park Plaza Walts Finer Foods
82 Columbus Center Ames Department Store, Office Max
83 Jasper Manor Kmart
84 Valley View Plaza - Wal-Mart
85 Town Fair Kmart
86 Wabash Crossing Kmart, Supervalu
87 Woodland Plaza - Wal-Mart
88 Green River Goody's Family Clothing
89 Kmart Plaza Kmart
90 Highland Commons Food Lion, Kmart
91 J*Town Center Tricon Corporate Office
92 Mist Lake Plaza Wal-Mart
93 London Marketplace Kmart, The Kroger Co.
94 Picadilly Square -
95 Eastgate The Kroger Co.
96 Lexington Road Plaza Kmart, The Kroger Co.
97 Lagniappe Village Shopping Center Wal-Mart
98 Liberty Plaza Stop & Shop
99 Rising Sun Towne Centre Giant Food Stores
100 Fruitland Plaza Food Lion
101 Maple Village Kmart
102 Farmington Crossroads Farmer Jack
103 Delta Center T.J. Maxx, Toys R Us
104 Hampton Village Centre Farmer Jack, Kohl's Target
105 Fashion Corner Best Buy, Kids R Us
106 Hall Road Crossing Old Navy, T.J. Maxx
</TABLE>
<PAGE> 26
NEW PLAN EXCEL REALTY TRUST, INC.
SUPPLEMENTAL DISCLOSURE - QUARTER ENDED SEPTEMBER 30, 2000
-------------------------------------------------------------------------------
PROPERTY PORTFOLIO PAGE 25
<TABLE>
<CAPTION>
Year Date
Property Name City State Built Acquired
--------------------------------------------- ---------------------- -------------- -------------------- ---------------
<S> <C> <C> <C> <C>
107 Southfield Shopping Center Southfield MI 1969-70 02/12/98
108 Delco Plaza Sterling Heights MI 1970,73 11/14/96
109 Westland Crossing Westland MI 1986 11/16/99
110 Washtenaw Fountain Plaza Ypsilanti MI 1989 10/05/92
111 Roundtree Place Ypsilanti MI 1992 07/01/98
112 Factory Merchants - Branson Branson MO 1988 11/01/93
113 Factory Outlet Village Osage Beach Osage Beach MO 1987 01/29/93
114 Stanly County Plaza Albermarle NC 1988 03/28/94
115 Village Marketplace Asheboro NC 1988 04/13/95
116 Goldsboro Flea Market Goldsboro NC 1973 05/14/86
117 Foothills Market Jonesville NC 1988 06/05/95
118 Chapel Square Kannapolis NC 1992 12/01/94
119 Kinston Pointe Kinston NC 1991 07/05/95
120 Granville Corners Oxford NC 1991 02/21/96
121 Roxboro Square Roxboro NC 1989 06/05/95
122 Siler Crossing Siler City NC 1988 06/05/95
123 Crossroads Ctr. Statesville NC 1991 02/27/96
124 Thomasville Crossing Thomasville NC 1996 04/18/97
125 Anson Station Wadesboro NC 1988 08/23/95
126 Roanoke Landing Williamston NC 1991 01/02/96
127 Wilson Wilson NC 1973 05/14/86
128 Stratford Commons Winston-Salem NC 1995 12/30/96
129 Laurel Square Bricktown NJ 1973 07/13/92
130 Hamilton Plaza-Kmart Plaza Hamilton NJ 1972 05/12/94
131 Bennetts Mills Plaza Jackson NJ 1988 09/01/94
132 Six Flags Factory Outlet Jackson Township NJ 1997 04/30/97
133 Middletown Plaza Middletown NJ 1972 01/01/75
134 Tinton Falls Plaza Tinton Falls NJ 1953 01/30/98
135 Dover Park Plaza Yardville NJ 1966 01/28/00
136 Galleria Commons Shopping Center Henderson NV 1998 06/09/98
137 Renaissance Center East Las Vegas NV 1981 10/17/96
138 Kietzke Center Reno NV 1974 06/20/97
139 University Mall Canton NY 1967 01/01/76
140 Cortlandville Cortland NY 1984 08/04/87
141 Kmart Plaza DeWitt NY 1970 08/03/93
142 D & F Plaza Dunkirk NY 1967 01/01/86
143 Elmira Plaza Elmira NY 1976 02/13/89
144 Pyramid Mall Geneva NY 1973 08/03/93
145 Genesee Valley Shopping Center Genesco NY 1993 07/01/98
146 Gloversville Gloversville NY 1974 12/29/98
147 McKinley Plaza Hamburg NY 1991 06/14/92
148 Hornell Plaza Shopping Center Hornell NY 1995 07/31/98
149 Cayuga Mall Ithaca NY 1969 05/12/89
150 Shops at Seneca Mall Liverpool NY 1971 08/03/93
151 Transit Road Plaza Lockport NY 1971 08/03/93
152 Marcy Marcy NY 1971 05/14/86
153 Wallkill Plaza Middletown NY 1986 12/12/95
154 Monroe Shoprite Plaza Monroe NY 1972 08/01/97
155 Rockland Plaza Nanuet NY 1963 01/01/83
156 South Plaza Norwich NY 1967 04/01/83
157 Westgate Plaza Oneonta NY 1967 01/20/84
158 Oswego Plaza Oswego NY 1966 01/01/77
159 Price Chopper Plaza Rome NY 1988 08/03/93
160 Westgate Manor Plaza Rome NY 1961 01/01/86
</TABLE>
<TABLE>
<CAPTION>
Percent
Property Name GLA Leased (1) ABR
--------------------------------------------- ----------------------- ------------- -----------------
<S> <C> <C> <C>
107 Southfield Shopping Center 106,948 97% 1,103,219
108 Delco Plaza 154,853 100% 782,874
109 Westland Crossing 141,738 86% 1,237,222
110 Washtenaw Fountain Plaza 136,103 99% 936,547
111 Roundtree Place 195,413 100% 1,308,905
112 Factory Merchants - Branson 317,512 75% 3,513,592
113 Factory Outlet Village Osage Beach 399,965 92% 6,843,506
114 Stanly County Plaza 63,637 91% 390,094
115 Village Marketplace 87,869 79% 545,165
116 Goldsboro Flea Market 79,579 100% 84,000
117 Foothills Market 49,630 92% 274,126
118 Chapel Square 45,450 94% 337,522
119 Kinston Pointe 170,170 90% 869,943
120 Granville Corners 136,551 98% 909,324
121 Roxboro Square 98,980 100% 633,029
122 Siler Crossing 132,639 96% 728,039
123 Crossroads Ctr. 340,190 99% 1,931,311
124 Thomasville Crossing 78,509 96% 611,728
125 Anson Station 130,800 92% 689,292
126 Roanoke Landing 156,561 98% 950,119
127 Wilson 104,982 76% -
128 Stratford Commons 72,308 100% 917,630
129 Laurel Square 246,235 97% 1,814,569
130 Hamilton Plaza-Kmart Plaza 149,060 100% 812,191
131 Bennetts Mills Plaza 115,238 100% 1,113,074
132 Six Flags Factory Outlet 292,638 100% 5,626,675
133 Middletown Plaza 120,558 94% 840,414
134 Tinton Falls Plaza 100,582 100% 940,307
135 Dover Park Plaza 59,642 100% 423,692
136 Galleria Commons Shopping Center 276,460 100% 2,612,439
137 Renaissance Center East 145,578 97% 1,662,634
138 Kietzke Center 165,350 95% 948,638
139 University Mall 78,738 86% 285,726
140 Cortlandville 100,300 95% 240,419
141 Kmart Plaza 115,500 100% 576,275
142 D & F Plaza 190,518 80% 713,551
143 Elmira Plaza 54,400 0% -
144 Pyramid Mall 233,137 87% 1,101,204
145 Genesee Valley Shopping Center 204,609 99% 1,412,103
146 Gloversville 45,012 100% 99,026
147 McKinley Plaza 92,782 93% 801,865
148 Hornell Plaza Shopping Center 253,703 100% 1,807,161
149 Cayuga Mall 205,526 93% 1,042,746
150 Shops at Seneca Mall 237,202 92% 1,299,072
151 Transit Road Plaza 138,120 100% 361,208
152 Marcy 123,380 2% 25,000
153 Wallkill Plaza 203,234 100% 1,771,777
154 Monroe Shoprite Plaza 122,394 98% 1,272,478
155 Rockland Plaza 248,067 97% 4,185,059
156 South Plaza 143,665 78% 315,960
157 Westgate Plaza 71,952 97% 208,280
158 Oswego Plaza 128,087 97% 540,725
159 Price Chopper Plaza 78,401 100% 530,930
160 Westgate Manor Plaza 65,813 93% 351,556
</TABLE>
<TABLE>
<CAPTION>
Anchor Tenant
Property Name Anchor Tenant Not Owned
------------------------------------ ---------------------------------------------- --------------------------------
<S> <C> <C>
107 Southfield Shopping Center Farmer Jack Burlington Coats, F&M, Marshalls
108 Delco Plaza Babies R Us, Bed, Bath & Beyond
109 Westland Crossing Michaels, Office Depot Toys R' Us
110 Washtenaw Fountain Plaza -
111 Roundtree Place Busch Grocery, Wal-Mart
112 Factory Merchants - Branson Bugle Boy, Dress Barn
113 Factory Outlet Village Osage Beach Gap, Mikasa, Polo, Tommy Hilfiger
114 Stanly County Plaza Ingles Wal-Mart
115 Village Marketplace Harris Teeter Wal-Mart
116 Goldsboro Flea Market Goldsboro Flea Market
117 Foothills Market Food Lion
118 Chapel Square Food Lion Wal-Mart
119 Kinston Pointe Wal-Mart
120 Granville Corners Lowe's Food, Wal-Mart
121 Roxboro Square Wal-Mart
122 Siler Crossing Belk-Yates, Food Lion, Rose's
123 Crossroads Ctr. BI-LO, Wal-Mart
124 Thomasville Crossing Lowe's Food
125 Anson Station Food Lion, Wal-Mart
126 Roanoke Landing Wal-Mart, Winn-Dixie Stores Belk's
127 Wilson Wilson Flea Market
128 Stratford Commons Michaels, Office Max
129 Laurel Square Kmart, Pathmark
130 Hamilton Plaza-Kmart Plaza Kmart
131 Bennetts Mills Plaza Edwards Super Foods
132 Six Flags Factory Outlet Brooks Brothers, Gap, Mikasa, Nike, Reebok
133 Middletown Plaza Shoprite
134 Tinton Falls Plaza Burlington Coat Factory Great A&P Tea Company
135 Dover Park Plaza Acme Markets
136 Galleria Commons Shopping Center Babies R Us, Comp USA, Homebase, Stein Mart,
T.J. Maxx
137 Renaissance Center East Albertson's
138 Kietzke Center Mervyn's Target
139 University Mall Ames Department Stores
140 Cortlandville Ames Department Stores
141 Kmart Plaza Kmart, Office Max
142 D & F Plaza Quality Markets
143 Elmira Plaza -
144 Pyramid Mall Kmart, Tops Market
145 Genesee Valley Shopping Center Wal-Mart, Wegmans
146 Gloversville Citizens Telecom
147 McKinley Plaza Kids R Us, T.J. Maxx
148 Hornell Plaza Shopping Center Wal-Mart, Wegmans
149 Cayuga Mall Penn Traffic
150 Shops at Seneca Mall Kmart, Price Chopper
151 Transit Road Plaza Kmart
152 Marcy -
153 Wallkill Plaza Bradlees, Shoprite
154 Monroe Shoprite Plaza Shoprite
155 Rockland Plaza Barnes & Noble, Marshalls, Tower Records
156 South Plaza Ames Department Stores
157 Westgate Plaza Ames Department Stores
158 Oswego Plaza JC Penney
159 Price Chopper Plaza Price Chopper
160 Westgate Manor Plaza Rome Cinemas
</TABLE>
<PAGE> 27
NEW PLAN EXCEL REALTY TRUST, INC.
SUPPLEMENTAL DISCLOSURE - QUARTER ENDED SEPTEMBER 30, 2000
-------------------------------------------------------------------------------
PROPERTY PORTFOLIO PAGE 26
<TABLE>
<CAPTION>
Year Date
Property Name City State Built Acquired
--------------------------------------------- ---------------------- -------------- --------------- ------------------
<S> <C> <C> <C> <C>
161 Mohawk Acres Rome NY 1965 02/01/84
162 Northland Watertown NY 1962 01/01/73
163 Harbor Plaza Ashtabula OH 1988 02/20/91
164 Ashland Square Ashland OH 1990 10/06/93
165 Belpre Plaza Belpre OH 1969 06/08/88
166 Southwood Plaza Bowling Green OH 1961 05/16/90
167 Lakewood Village Celina OH 1990 03/28/94
168 Delhi Cincinnati OH 1973 05/22/96
169 Western Village Cincinnati OH 1960 05/04/94
170 Brentwood Plaza Cincinnati OH 1957 05/04/94
171 Crown Point Columbus OH 1980 07/23/98
172 River Run Centre Coshocton OH 1992 07/01/98
173 South Towne Centre Dayton OH 1972 03/27/92
174 Heritage Square Dover OH 1959 08/31/93
175 Midway Crossing Elyria OH 1986 12/11/95
176 Fairfield Center Fairfield OH 1978 05/01/90
177 Silver Bridge Plaza Gallipolis OH 1972 12/28/86
178 Genoa Genoa OH 1987 03/01/91
179 Parkway Plaza Maumee OH 1955 09/06/89
180 New Boston New Boston OH 1991 02/17/93
181 Market Place Piqua OH 1972 11/20/91
182 Brice Park Reynoldsburg OH 1989 03/04/98
183 Central Ave Market Place Toledo OH 1968 08/14/90
184 Greentree Upper Arlington OH 1974 07/23/98
185 Bethel Park Bethel Park PA 1965 05/14/97
186 Dillsburg Shopping Center Dillsburg PA 1994 10/16/96
187 Market Street Square Elizabethtown PA 1993 10/06/97
188 New Garden Kennett Square PA 1979 06/20/97
189 Stone Mill Plaza Lancaster PA 1988 01/06/94
190 Crossroads Plaza Mt. Pleasant PA 1975 11/10/88
191 Ivyridge Philadelphia PA 1963 08/02/95
192 Roosevelt Mall (2) Philadelphia PA 1958, 64 01/01/64, 04/01/74
193 Hampton Square Upper South Hampton PA 1980 12/29/98
194 Shops at Prospect West Hempfield PA 1994 07/31/95
195 Johnstown Galleria Outparcel Richard Twnsp PA 1993 07/31/97
196 Circle Center Hilton Head SC 1992 03/24/94
197 Palmetto Crossroads Hilton Head SC 1990 10/18/95
198 Island Plaza James Island SC 1994 10/06/97
199 Remount Village N. Charleston SC 1996 11/13/96
200 Congress Crossing Athens TN 1990 11/10/88
201 St. Elmo Central Chattanooga TN 1995 08/06/96
202 Apison Crossing Collegedale TN 1997 07/29/97
203 Saddletree Village Shopping Center Columbia TN 1990 06/15/98
204 West Towne Square Elizabethton TN 1970, 98 06/09/98
205 Greeneville Commons Greeneville TN 1990 03/10/92
206 Georgetown Square Murfreesboro TN 1986 09/29/93
207 Hazel Path Hendersonville TN 1989 11/27/95
208 Kimball Crossing Jasper TN 1987 11/27/95
209 Chapman-Ford Crossing Knoxville TN 1990 12/30/92
210 Farrar Place Shopping Center Manchester TN 1989 12/15/95
211 Madison Street Station Shelbyville TN 1985 10/11/95
212 Commerce Central Tullahoma TN 1995 08/09/96
213 Merchant's Central Winchester TN 1997 12/09/97
214 Bardin Place Center Arlington TX 1992-93 10/06/97
</TABLE>
<TABLE>
<CAPTION>
Percent
Property Name GLA Leased (1) ABR
--------------------------------------------- ----------------------- ------------- -----------------
<S> <C> <C> <C>
161 Mohawk Acres 98,183 64% 542,979
162 Northland 122,666 77% 497,920
163 Harbor Plaza 51,794 86% 301,427
164 Ashland Square 163,168 95% 853,904
165 Belpre Plaza 88,426 48% 193,993
166 Southwood Plaza 82,952 91% 378,297
167 Lakewood Village 113,898 98% 576,369
168 Delhi 166,496 90% 1,338,382
169 Western Village 138,625 98% 957,483
170 Brentwood Plaza 232,567 54% 1,116,875
171 Crown Point 147,427 87% 963,727
172 River Run Centre 82,957 100% 415,430
173 South Towne Centre 308,719 99% 2,366,547
174 Heritage Square 232,132 85% 1,017,103
175 Midway Crossing 138,675 83% 970,882
176 Fairfield Center 74,095 96% 394,713
177 Silver Bridge Plaza 145,481 80% 504,674
178 Genoa 16,500 85% 106,334
179 Parkway Plaza 140,021 82% 359,917
180 New Boston 238,711 100% 1,443,394
181 Market Place 169,311 81% 561,187
182 Brice Park 168,284 100% 1,709,367
183 Central Ave Market Place 157,383 91% 558,173
184 Greentree 128,501 78% 939,334
185 Bethel Park 224,069 98% 1,368,258
186 Dillsburg Shopping Center 68,848 100% 627,444
187 Market Street Square 169,481 100% 1,363,460
188 New Garden 149,270 63% 487,414
189 Stone Mill Plaza 94,493 95% 848,708
190 Crossroads Plaza 105,723 96% 368,862
191 Ivyridge 112,278 78% 958,942
192 Roosevelt Mall (2) 555,813 97% 5,829,671
193 Hampton Square 62,933 90% 439,459
194 Shops at Prospect 63,392 94% 493,465
195 Johnstown Galleria Outparcel 61,968 87% 339,677
196 Circle Center 65,313 97% 648,946
197 Palmetto Crossroads 40,916 100% 294,293
198 Island Plaza 167,101 95% 1,164,479
199 Remount Village 60,238 94% 530,538
200 Congress Crossing 172,305 99% 1,135,427
201 St. Elmo Central 74,978 94% 612,216
202 Apison Crossing 79,054 96% 701,160
203 Saddletree Village Shopping Center 45,800 83% 263,101
204 West Towne Square 99,224 72% 508,417
205 Greeneville Commons 223,118 98% 1,419,999
206 Georgetown Square 104,117 82% 776,015
207 Hazel Path 67,965 85% 425,475
208 Kimball Crossing 280,482 89% 1,666,069
209 Chapman-Ford Crossing 185,604 97% 1,037,936
210 Farrar Place Shopping Center 43,220 84% 309,801
211 Madison Street Station 56,766 94% 354,450
212 Commerce Central 182,401 99% 1,208,246
213 Merchant's Central 208,123 98% 1,166,311
214 Bardin Place Center 303,900 100% 2,906,118
</TABLE>
<TABLE>
<CAPTION>
Anchor Tenant
Property Name Anchor Tenant Not Owned
-------------------------------------- ---------------------------------------- --------------------------------
<S> <C>
161 Mohawk Acres -
162 Northland Ames Department Store
163 Harbor Plaza Jubilee Foods
164 Ashland Square Foodtown, Wal-Mart
165 Belpre Plaza -
166 Southwood Plaza -
167 Lakewood Village Wal-Mart
168 Delhi The Kroger Co.
169 Western Village T.J. Maxx
170 Brentwood Plaza -
171 Crown Point The Kroger Co.
172 River Run Centre Wal-Mart Big Bear
173 South Towne Centre Burlington Coat Factory, Kmart
174 Heritage Square Bag N Save Foods
175 Midway Crossing T.J. Maxx Kids R Us, Toys R Us
176 Fairfield Center The Kroger Co.
177 Silver Bridge Plaza Quality Farm & Fleet
178 Genoa -
179 Parkway Plaza Foodtown
180 New Boston Festival Foods, Wal-Mart
181 Market Place Foodtown
182 Brice Park Gregg Appliances, Michaels, Old Navy
183 Central Ave Market Place Hills Department Store
184 Greentree The Kroger Co.
185 Bethel Park Ames Department Store, Giant Eagle
186 Dillsburg Shopping Center Giant Food Stores
187 Market Street Square Kmart, Weis Markets
188 New Garden Acme Markets
189 Stone Mill Plaza Giant Food Stores
190 Crossroads Plaza Quality Farm & Fleet
191 Ivyridge Super Fresh
192 Roosevelt Mall (2) Strawbridges
193 Hampton Square Acme Market
194 Shops at Prospect Fox Markets Kmart
195 Johnstown Galleria Outparcel - Builders Square, Toys R Us, Wal-Mart
196 Circle Center BI-LO
197 Palmetto Crossroads Food Lion
198 Island Plaza Food Lion, Kmart
199 Remount Village BI-LO
200 Congress Crossing BI-LO, Kmart
201 St. Elmo Central Winn-Dixie Stores
202 Apison Crossing Winn-Dixie Stores
203 Saddletree Village Shopping Center Food Lion
204 West Towne Square Winn-Dixie Stores
205 Greeneville Commons Kmart, Proffitt's
206 Georgetown Square The Kroger Co.
207 Hazel Path Food Lion Wal-Mart
208 Kimball Crossing Wal-Mart
209 Chapman-Ford Crossing Food Lion, Wal-Mart
210 Farrar Place Shopping Center Food Lion The Crystal Company
211 Madison Street Station BI-LO
212 Commerce Central Wal-Mart
213 Merchant's Central Peebles, Wal-Mart
214 Bardin Place Center Oshmann's, Kmart Hobby Lobby
</TABLE>
<PAGE> 28
NEW PLAN EXCEL REALTY TRUST, INC.
SUPPLEMENTAL DISCLOSURE - QUARTER ENDED SEPTEMBER 30, 2000
-------------------------------------------------------------------------------
PROPERTY PORTFOLIO PAGE 27
<TABLE>
<CAPTION>
Year Date
Property Name City State Built Acquired
--------------------------------------------- ---------------------- -------------- -------------------- ---------------
<S> <C> <C> <C> <C>
215 Irving West Irving TX 1987 09/14/93
216 Valley Fair Mall W. Valley City UT 1970 12/31/96
217 Colonial Heights Colonial Heights VA 1972 05/14/86
218 Factory Merchants Ft. Chiswell Ft. Chiswell VA 1989 11/01/93
219 Hanover Square Mechanicsville VA 1991 01/06/93
220 Victorian Square Midlothian VA 1991 03/24/94
221 VA-KY Regional S.C. Norton VA 1989 12/30/92
222 Hunting Hills Roanoke VA 1989 04/02/98
223 Cave Spring Corners Roanoke VA 1969 06/05/97
224 Lakeside Plaza Salem VA 1989 04/15/99
225 Fredricksburg Spotsylvania VA 1970 05/14/86
226 Lake Drive Plaza Vinton VA 1976 02/12/98
227 Ridgeview Centre Wise VA 1990 07/02/92
228 Moundsville Plaza Moundsville WV 1961 12/27/88
229 Grand Central Plaza Parkersburg WV 1986 06/08/88
230 Kmart Plaza Vienna WV 1975 02/25/93
Single Tenant Properties
1 The Kroger Co. Muscle Shoals AL 1982 08/10/93
2 The Kroger Co. Muscle Shoals AL 1982 08/10/93
3 The Kroger Co. Scottsboro AL 1982 08/10/93
4 The Kroger Co. Pine Bluff AR 1981 08/10/93
5 Safeway Sherwood AR 1981 08/10/93
6 Lucky stores Mesa AZ 1982 08/10/93
7 Lucky stores Phoenix AZ 1982 01/19/94
8 Q-Club Phoenix AZ 1994 05/06/94
9 Q-Club Scottsdale AZ 1994 08/19/94
10 Rite Aid Yuma AZ 1980 08/10/93
11 Pueblo I Pueblo CO 1977 08/10/93
12 Doverama at Rodney Dover DE 1959 01/01/69
13 Food Lion Brandon FL 1982 08/10/93
14 Kmart Brookville FL 1987 06/17/97
15 Albany I Albany GA 1981 08/10/93
16 The Kroger Co. East Albany GA 1982 08/10/93
17 Rite Aid East Albany GA 1982 08/10/93
18 Kmart Atlantic IA 1980 01/19/94
19 Eagle Food Center Coralville IA 1981 08/10/93
20 Eagle Food Center Dubuque IA 1980 08/10/93
21 Eagle Food Center Decatur IL 1983 08/10/93
22 The Kroger Co. Ottawa IL 1982 08/10/93
23 Eagle Food Center Peoria IL 1983 08/10/93
24 Eagle Food Center Springfield IL 1982 08/10/93
25 Eagle Food Center Sterling IL 1980 08/10/93
26 The Kroger Co. Waterloo IL 1982 08/10/93
27 Kindercare Beech Grove IN 1976 12/31/92
28 Kindercare Fort Wayne IN 1976 12/31/92
29 Eagle Food Center Hobart IN 1983 08/10/93
30 Kindercare Indianapolis IN 1976 12/31/92
31 Kindercare Indianapolis IN 1976 12/31/92
32 Kindercare Indianapolis IN 1976 12/31/92
33 Eagle Food Center Michigan City IN 1983 08/10/93
34 Safeway West Monroe LA 1981 08/10/93
</TABLE>
<TABLE>
<CAPTION>
Percent
Property Name GLA Leased (1) ABR
--------------------------------------------- ----------------------- ------------- -----------------
<S> <C> <C> <C>
215 Irving West 70,056 100% 613,984
216 Valley Fair Mall 600,584 84% 3,058,738
217 Colonial Heights 80,363 0% -
218 Factory Merchants Ft. Chiswell 175,578 68% 816,458
219 Hanover Square 129,987 100% 1,385,020
220 Victorian Square 271,215 94% 1,788,013
221 VA-KY Regional S.C. 193,238 100% 1,220,309
222 Hunting Hills 166,207 100% 939,126
223 Cave Spring Corners 171,125 99% 673,035
224 Lakeside Plaza 82,036 99% 736,686
225 Fredricksburg 83,374 100% 164,905
226 Lake Drive Plaza 148,061 92% 891,179
227 Ridgeview Centre 176,690 99% 1,139,363
228 Moundsville Plaza 174,664 90% 960,992
229 Grand Central Plaza 74,017 100% 643,990
230 Kmart Plaza 106,258 98% 528,010
----------------------- ------------- -----------------
TOTAL 34,153,754 91% $ 244,332,755
======================= ============= =================
Single Tenant Properties
1 The Kroger Co. 42,130 100% $ 252,780
2 The Kroger Co. 10,069 100% 60,414
3 The Kroger Co. 42,130 100% 217,391
4 The Kroger Co. 60,842 100% 288,232
5 Safeway 44,617 100% 240,651
6 Lucky stores 29,827 100% 126,438
7 Lucky stores 28,217 100% 154,620
8 Q-Club 44,374 100% 741,189
9 Q-Club 44,374 100% 749,773
10 Rite Aid 25,834 100% 113,050
11 Pueblo I 12,556 0% -
12 Doverama at Rodney 30,000 100% 56,250
13 Food Lion 36,750 100% 202,582
14 Kmart 94,841 100% 540,510
15 Albany I 72,900 0% -
16 The Kroger Co. 34,019 100% 197,612
17 Rite Aid 10,069 100% 54,567
18 Kmart 40,318 100% 160,000
19 Eagle Food Center 28,875 100% 172,669
20 Eagle Food Center 35,015 100% 230,300
21 Eagle Food Center 29,000 100% 181,996
22 The Kroger Co. 44,088 100% 278,866
23 Eagle Food Center 30,000 100% 208,133
24 Eagle Food Center 30,000 100% 135,090
25 Eagle Food Center 40,265 100% 179,748
26 The Kroger Co. 31,170 100% 207,135
27 Kindercare 4,268 100% 49,694
28 Kindercare 4,584 100% 49,694
29 Eagle Food Center 29,300 100% 190,792
30 Kindercare 4,452 100% 49,694
31 Kindercare 4,452 100% 21,600
32 Kindercare 4,212 100% 49,694
33 Eagle Food Center 29,000 100% 158,000
34 Safeway 41,293 100% 228,671
</TABLE>
<TABLE>
<CAPTION>
Anchor Tenant
Property Name Anchor Tenant Not Owned
--------------------------------------------- ------------------------------------------- ----------------------
<S> <C> <C>
215 Irving West Winn-Dixie Stores
216 Valley Fair Mall JC Penney, Mervyn's, ZCMI
217 Colonial Heights -
218 Factory Merchants Ft. Chiswell Polo, Reebok
219 Hanover Square Ukrops Supermarket Kohl's
220 Victorian Square The Kroger Co., Kmart
221 VA-KY Regional S.C. Ingles, Wal-Mart
222 Hunting Hills Wal-Mart
223 Cave Spring Corners Hills Department Store, The Kroger Co.
224 Lakeside Plaza The Kroger Co.
225 Fredricksburg Pharmhouse
226 Lake Drive Plaza The Kroger Co.
227 Ridgeview Centre Food City, Kmart Belk's
228 Moundsville Plaza The Kroger Co.
229 Grand Central Plaza Office Depot
230 Kmart Plaza Kmart
Single Tenant Properties
1 The Kroger Co.
2 The Kroger Co.
3 The Kroger Co. Bruno's
4 The Kroger Co.
5 Safeway
6 Lucky stores ABCO
7 Lucky stores ABCO
8 Q-Club
9 Q-Club
10 Rite Aid Payless Drugs
11 Pueblo I
12 Doverama at Rodney
13 Food Lion Kash n Karry
14 Kmart
15 Albany I
16 The Kroger Co. Harvey Foods
17 Rite Aid
18 Kmart
19 Eagle Food Center
20 Eagle Food Center
21 Eagle Food Center
22 The Kroger Co.
23 Eagle Food Center
24 Eagle Food Center
25 Eagle Food Center
26 The Kroger Co. Schnuck Markets
27 Kindercare
28 Kindercare
29 Eagle Food Center
30 Kindercare
31 Kindercare
32 Kindercare
33 Eagle Food Center
34 Safeway Brookshire Grocery
</TABLE>
<PAGE> 29
NEW PLAN EXCEL REALTY TRUST, INC.
SUPPLEMENTAL DISCLOSURE - QUARTER ENDED SEPTEMBER 30, 2000
--------------------------------------------------------------------------------
PROPERTY PORTFOLIO PAGE 28
<TABLE>
<CAPTION>
Year Date Percent
Property Name City State Built Acquired GLA Leased (1)
----------------------------------- --------------- ------ ----------- ------------- ------------ ----------
<S> <C> <C> <C> <C> <C> <C>
35 Mountain Jacks Dearborne Hts. MI 1988 12/31/92 9,914 100%
36 Kindercare Kalamazoo MI 1990 02/06/91 6,260 100%
37 Firstar Bank Building Burnsville MN 1975 08/04/97 13,373 100%
38 Kindercare High Ridge MO 1980 12/31/92 4,654 100%
39 Northern Automotive Grand Island NE 1988 12/31/92 5,671 100%
40 Northern Automotive Hastings NE 1988 12/31/92 4,000 100%
41 Kmart Omaha NE 1981 08/10/93 60,842 100%
42 Kmart Somerville NJ 1982 08/10/93 55,552 100%
43 Rite Aid Rome NY 1965 01/20/84 84,000 85%
44 Safeway Muskogee OK 1981 08/10/93 45,510 100%
45 The Kroger Co. Clearfield PA 1982 08/10/93 31,170 100%
46 Acme Markets Philadelphia PA 1980 08/19/98 34,000 100%
47 Hardees Hanover PA 1971 07/31/97 3,800 100%
48 The Kroger Co. James Island SC 1982 08/10/93 42,130 100%
49 Winn-Dixie Stores Chattanooga TN 1995 03/31/97 43,848 100%
50 First American Bank Kingsport TN 1970 09/01/92 5,532 65%
51 Kmart Desoto TX 1980 08/10/93 72,897 100%
52 The Omelette Shop Houston TX 1991 12/31/92 1,675 100%
53 Houston I Houston TX 1991 12/31/92 1,675 0%
54 The Kroger Co. Missouri City TX 1982 08/10/93 44,183 100%
55 El Chico Temple TX 1995 12/19/95 6,600 100%
56 Pizza Hut Harrisonburg VA 1969 07/31/96 3,384 100%
------------ ----------
TOTAL 1,674,511 94%
============ ==========
COMMERCIAL PROPERTIES
1 Genzyme Corp. Scottsdale AZ 1971 12/17/90 21,560 100%
2 Via Del Campo Office San Diego CA 1988 01/24/94 20,884 83%
3 Unity Professional Bldg. Fridley MN 1991 05/30/96 62,518 99%
4 Stillwater Office Bldg. Stillwater MN 1985 07/31/91 10,007 91%
5 Roxbury Township Roxbury NJ 1997 12/31/97 LAND -
6 Institute for Defense Analyses Princeton NJ 1974, 82 05/31/74 51,000 100%
7 North Central Avenue Hartsdale NY 1972 07/31/72 LAND -
------------ ----------
TOTAL 165,969 97%
============ ==========
------------ ----------
TOTAL RETAIL PORTFOLIO AND COMMERCIAL PROPERTIES 35,994,234 91%
============ ==========
SHOPPING CENTERS WITH REDEVELOPMENT PLANS UNDER REEVALUATION
1 Clearwater Mall Clearwater FL 1973 12/02/97 679,661 48%
</TABLE>
<TABLE>
<CAPTION>
Property Name ABR
----------------------------------- --------------
<S> <C>
35 Mountain Jacks 169,000
36 Kindercare 73,832
37 Firstar Bank Building 133,772
38 Kindercare 32,299
39 Northern Automotive 73,693
40 Northern Automotive 52,758
41 Kmart 312,775
42 Kmart 271,780
43 Rite Aid 178,500
44 Safeway 280,344
45 The Kroger Co. 210,000
46 Acme Markets 163,795
47 Hardees 24,100
48 The Kroger Co. 223,289
49 Winn-Dixie Stores 237,413
50 First American Bank 23,400
51 Kmart 289,000
52 The Omelette Shop 17,990
53 Houston I -
54 The Kroger Co. 229,289
55 El Chico 50,000
56 Pizza Hut 22,755
--------------
TOTAL $ 9,617,619
==============
COMMERCIAL PROPERTIES
1 Genzyme Corp. $ 293,808
2 Via Del Campo Office 313,014
3 Unity Professional Bldg. 917,843
4 Stillwater Office Bldg. 141,475
5 Roxbury Township -
6 Institute for Defense Analyses 261,338
7 North Central Avenue -
-----------------
$ 1,927,478
=================
-----------------
TOTAL RETAIL PORTFOLIO AND COMMERCIAL PROPERTIES $ 255,877,852
=================
SHOPPING CENTERS WITH REDEVELOPMENT PLANS UNDER REEVALUATION
1 Clearwater Mall $ 2,616,833
</TABLE>
<TABLE>
<CAPTION>
Anchor Tenant
Property Name Anchor Tenant Not Owned
-------------------------------- -------------------------------- -----------------------------
<S> <C> <C>
35 Mountain Jacks
36 Kindercare
37 Firstar Bank Building
38 Kindercare
39 Northern Automotive
40 Northern Automotive
41 Kmart Golds Gym
42 Kmart
43 Rite Aid
44 Safeway Associated Grocers
45 The Kroger Co. Clearfield Market
46 Acme Markets
47 Hardees
48 The Kroger Co. BI-LO
49 Winn-Dixie Stores
50 First American Bank Food Lion
51 Kmart
52 The Omelette Shop
53 Houston I
54 The Kroger Co.
55 El Chico
56 Pizza Hut
COMMERCIAL PROPERTIES
1 Genzyme Corp.
2 Via Del Campo Office
3 Unity Professional Bldg.
4 Stillwater Office Bldg. Washington City
5 Roxbury Township
6 Institute for Defense Analyses
7 North Central Avenue
SHOPPING CENTERS WITH REDEVELOPMENT PLANS UNDER REEVALUATION
1 Clearwater Mall Montgomery Wards Burdines
</TABLE>
<TABLE>
<CAPTION>
Year Date
Property Name City State Built Acquired Units
--------------------------------- ------------- ------ ----------- ------------- ------------
GARDEN APARTMENT COMMUNITIES
<S> <C> <C> <C> <C> <C>
1 Breckenridge Birmingham AL 1979 02/18/92 120
2 Courts At Wildwood Birmingham AL 1969 07/22/93 220
3 The Club Birmingham AL 1969-74 05/24/95 278
4 Devonshire Place Birmingham AL 1971 02/18/92 284
5 Hillcrest Mobile AL 1977 06/30/97 140
</TABLE>
<TABLE>
<CAPTION>
Percent
Property Name Leased (1) ABR
--------------------------------- ---------- ------------
GARDEN APARTMENT COMMUNITIES
<S> <C> <C>
1 Breckenridge 100% $ 801,720
2 Courts At Wildwood 93% 1,492,464
3 The Club 86% 1,781,616
4 Devonshire Place 80% 1,661,148
5 Hillcrest 91% 705,912
</TABLE>
<PAGE> 30
NEW PLAN EXCEL REALTY TRUST, INC.
SUPPLEMENTAL DISCLOSURE - QUARTER ENDED SEPTEMBER 30, 2000
--------------------------------------------------------------------------------
PROPERTY PORTFOLIO PAGE 29
<TABLE>
<CAPTION>
Year Date
Property Name City State Built Acquired Units
----------------------------------- --------------- ------ ----------- ------------- ------------
<S> <C> <C> <C> <C> <C>
6 Knollwood Mobile AL 1978-82 05/07/97 704
7 Maison Deville Mobile AL 1963,71-73 07/31/96 347
8 Maison Imperial Mobile AL 1969-73 07/31/96 56
9 Plantation Mobile AL 1977 07/31/96 120
10 Mayfair Dover DE 1971 01/01/81 96
11 Rodney Dover DE 1963-65 01/01/69 207
12 Charter Pointe Altamonte Springs FL 1973 04/03/98 312
13 Lake Park Lake Park FL 1965 02/01/76 227
14 Cambridge Athens GA 1972,82 05/01/96 180
15 Tara Athens GA 1970 06/06/96 240
16 Regency Club Evansville IN 1980 09/16/96 232
17 Forest Hills Indianapolis IN 1974 10/28/97 420
18 Hawthorne Heights Indianapolis IN 1965 06/18/96 241
19 Charlestown Louisville KY 1974 09/14/93 244
20 La Fontenay III Louisville KY 1970 07/16/92 248
21 Poplar Level Terrace Louisville KY 1974 01/01/91 88
22 Riverchase Newport KY 1968 08/29/96 203
23 Forestwood Baton Rouge LA 1985 10/31/96 272
24 Sherwood Acres Baton Rouge LA 1978-79 10/31/96 612
25 Willow Bend Lake Baton Rouge LA 1986 10/31/96 360
26 Deerhorn Village Kansas City MO 1974 07/12/95 309
27 Cardinal Woods Cary NC 1978 08/15/97 184
28 Polo Run Raleigh NC 1971 08/27/98 279
29 Meadow East Potsdam NY 1964-71 09/13/83 100
30 Mohawk Garden Rome NY 1947 11/01/85 208
31 Northgate Columbus OH 1970 07/16/98 316
32 Spring Creek Columbus OH 1985 06/02/97 288
33 Arlington Village Fairborn OH 1966 08/16/94 164
34 Chesterfield Maumee OH 1979-84 02/20/91 104
35 Eastgreen On The Commons Reynoldsburg OH 1971,82 01/29/98 360
36 Goldcrest Sharonville OH 1968 08/29/96 173
37 Cambridge Park Union Twp-Cinn OH 1973 08/29/96 196
38 Governours Place Harrisburg PA 1974 04/25/95 130
39 The Landings at Forest Acres Columbia SC 1968 01/14/99 176
40 Harbour Landing Columbia SC 1974 09/06/95 208
41 Sedgefield Florence SC 1972,74,79 07/01/94 280
42 Turtle Creek Greenville SC 1976 06/03/96 152
43 Hickory Lake Antioch TN 1974 12/17/93 322
44 Courts at Waterford Chattanooga TN 1988,89 12/12/96 318
45 Ashford Place Clarksville TN 1972,74 10/12/93 268
46 Cedar Village Clarksville TN 1982 07/25/94 170
47 Paddock Place Clarksville TN 1989 07/25/94 240
48 The Pines Clarksville TN 1986 07/25/94 224
49 Landmark Estates East Ridge TN 1971 08/29/96 93
50 Miller Crest Johnson City TN 1973 06/03/96 121
51 Cedar Bluff Knoxville TN 1980 05/01/96 192
52 Country Place Nashville TN 1979 04/02/96 312
53 Woodbridge Nashville TN 1980 08/29/96 220
-------
12,558
=======
</TABLE>
<TABLE>
<CAPTION>
Percent
Property Name Leased (1) ABR
----------------------------------- ---------- -----------------
<S> <C> <C>
6 Knollwood 94% $ 3,787,764
7 Maison Deville 92% 1,987,620
8 Maison Imperial 100% 657,648
9 Plantation 98% 528,960
10 Mayfair 90% 720,660
11 Rodney 82% 1,151,570
12 Charter Pointe 91% 2,254,742
13 Lake Park 95% 1,915,860
14 Cambridge 99% 1,080,684
15 Tara 95% 1,514,460
16 Regency Club 98% 1,416,906
17 Forest Hills 78% 2,090,712
18 Hawthorne Heights 77% 1,760,652
19 Charlestown 96% 1,942,428
20 La Fontenay III 94% 1,893,270
21 Poplar Level Terrace 95% 470,772
22 Riverchase 90% 1,094,774
23 Forestwood 95% 1,765,356
24 Sherwood Acres 82% 3,341,304
25 Willow Bend Lake 99% 2,389,380
26 Deerhorn Village 94% 2,123,928
27 Cardinal Woods 94% 1,374,936
28 Polo Run 96% 2,285,328
29 Meadow East 97% 646,474
30 Mohawk Garden 95% 1,067,748
31 Northgate 90% 2,118,505
32 Spring Creek 91% 1,998,266
33 Arlington Village 90% 1,107,552
34 Chesterfield 94% 601,044
35 Eastgreen On The Commons 78% 2,406,984
36 Goldcrest 91% 1,167,684
37 Cambridge Park 88% 1,407,144
38 Governours Place 93% 903,612
39 The Landings at Forest Acres 90% 1,078,428
40 Harbour Landing 91% 1,341,888
41 Sedgefield 90% 1,512,216
42 Turtle Creek 95% 1,009,032
43 Hickory Lake 89% 2,202,984
44 Courts at Waterford 95% 2,133,576
45 Ashford Place 97% 1,570,104
46 Cedar Village 91% 903,912
47 Paddock Place 91% 1,319,640
48 The Pines 93% 1,117,032
49 Landmark Estates 94% 612,642
50 Miller Crest 98% 802,884
51 Cedar Bluff 99% 1,091,877
52 Country Place 87% 1,977,410
53 Woodbridge 89% 1,627,164
---------- ---------------
91% $ 79,718,376
========== ===============
</TABLE>
(1) Includes all leases that have commenced and are in force as of September 30,
2000.
(2) Property has been combined into one property from the three properties
previously reported.
<PAGE> 31
<TABLE>
<CAPTION>
NEW PLAN EXCEL REALTY TRUST, INC.
SUPPLEMENTAL DISCLOSURE - QUARTER ENDED SEPTEMBER 30, 2000
-----------------------------------------------------------------------------------------------------------------------------------
SUMMARY OF ERT DEVELOPMENT CORPORATION / NXL JOINT VENTURE PROJECTS PAGE 30
ERT PROJECTS
----------------------------------------------------------------------------------------------
MESA PAVILIONS (1) THE GROVES (1)
---------------------------------------------- ---------------------------------------------
<S> <C> <C>
Location Mesa, AZ Tempe, AZ
Project Description Community shopping center Community shopping center
Approximate GLA or Area 307,400 248,000
Percent Leased 98% 95%
Anchor Tenants Circuit City, Costco (NAP), Homeplace, Kmart Circuit City, DSW Shoe Warehouse, JC Penney,
(NAP), Michaels, PetsMart, Sports Authority, Office Max, Wal-Mart (NAP)
Staples, Target (NAP)
Development
Start Date Jun-93 Jun-91
Expected Completion Date Jan-96 Mar-95
Percent Complete 92% (2) 100%
Project Cost to Date $29,808,000 $21,480,000
Expected Total Project Cost $32,243,000 $21,480,000
Project Bank Debt Outstanding $21,183,000 $13,872,000
Borrower / JV Partner The Ellman Companies The Ellman Companies
Economic Structure Note receivable with 50% profit participation Note receivable with 50% profit participation
ERT Percent Ownership 0% 0%
ERT Investment
Direct Equity - -
Notes Receivable $8,595,000 $7,578,000
Interest Rate on Notes Receivable 11% 12% (3)
Maturity Date Dec-01 Dec-01
VAIL RANCH II (1) THE MALL AT 163RD STREET
---------------------------------------------- ---------------------------------------------
Location Temecula, CA Miami, FL
Project Description Community shopping center Redevelopment of enclosed regional mall
Approximate GLA or Area 110,300 863,800
Percent Leased 67% 36%
Anchor Tenants Powerhouse Gym, Stein Mart Home Depot (NAP), Marshalls, Service
Merchandise
Development
Start Date Aug-98 Jun-01
Expected Completion Date Jun-01 Dec-02
Percent Complete 63% 0%
Project Cost to Date $8,186,000 $15,046,000
Expected Total Project Cost $13,040,000 Under review
Project Bank Debt Outstanding $5,367,000 $0
Borrower / JV Partner Land Grant Development -
Economic Structure Equity investment with 12% preferred return. The -
Company has guaranteed $1,336,000 of notes on
the property. Phase I is owned by NXL
ERT Percent Ownership 50% 100%
ERT Investment
Direct Equity $1,457,000 $15,046,000
Notes Receivable - -
Interest Rate on Notes Receivable - -
Maturity Date - -
</TABLE>
<TABLE>
<CAPTION>
NEW PLAN EXCEL REALTY TRUST, INC.
SUPPLEMENTAL DISCLOSURE - QUARTER ENDED SEPTEMBER 30, 2000
---------------------------------------------------------------------------------------------------------------------------------
SUMMARY OF ERT DEVELOPMENT CORPORATION / NXL JOINT VENTURE PROJECTS
ERT PROJECTS
------------------------------------------------------------------------------------------
FESTIVAL PAVILIONS STEIN MART CENTER
---------------------------------------- ----------------------------------------------
<S> <C> <C>
Location Escondido, CA Poway, CA
Project Description Land held for retail development Redevelopment of community shopping center
Approximate GLA or Area 34 acres 109,300
Percent Leased - 63%
Anchor Tenants - Motorsports Warehouse, Stein Mart
Development
Start Date - Dec-96
Expected Completion Date - Dec-01
Percent Complete - 51%
Project Cost to Date $1,205,000 $4,876,000
Expected Total Project Cost - $9,625,000
Project Bank Debt Outstanding $0 $0
Borrower / JV Partner The Festival Companies Wilton Partners
Economic Structure Note receivable Note receivable with 60% profit participation
ERT Percent Ownership 0% 0%
ERT Investment
Direct Equity - -
Notes Receivable $1,205,000 $3,686,000
Interest Rate on Notes Receivable 12% (3) 15% (3)
Maturity Date Sep-00 (4) Nov-99 (4)
MIAMI GARDENS (1) POINTE*ORLANDO
---------------------------------------- ----------------------------------------------
Location Miami, FL Orlando, FL
Project Description Free standing Eckerd Drugstore Open air shopping center
Approximate GLA or Area 11,200 458,700
Percent Leased 100% 77%
Anchor Tenants Eckerd Disney, FAO Schwarz, Foot Locker, Muvico, X-S
Development
Start Date Jan-96 Jan-96
Expected Completion Date Jul-97 Dec-00
Percent Complete 100% 98%
Project Cost to Date $2,019,000 $170,162,000
Expected Total Project Cost $2,019,000 $173,561,000
Project Bank Debt Outstanding $1,519,000 $78,475,000
Borrower / JV Partner Wilton Partners -
Economic Structure Note receivable The Company has guaranteed $15,000,000 of
notes on the property
ERT Percent Ownership 0% 100%
ERT Investment
Direct Equity - $81,870,000
Notes Receivable $400,000 -
Interest Rate on Notes Receivable 12% (3) -
Maturity Date Dec-99 (5) -
</TABLE>
<PAGE> 32
<TABLE>
<CAPTION>
NEW PLAN EXCEL REALTY TRUST, INC.
SUPPLEMENTAL DISCLOSURE - QUARTER ENDED SEPTEMBER 30, 2000
----------------------------------------------------------------------------------------------------------------------------------
SUMMARY OF ERT DEVELOPMENT CORPORATION / NXL JOINT VENTURE PROJECTS PAGE 31
MEADOWS TAMPA (1) THE CENTRE AT PRESTON RIDGE - PHASE 1 (1)
---------------------------------- -----------------------------------------------
<S> <C> <C>
Location Tampa, FL Frisco, TX
Project Description Free standing Eckerd Drugstore Community shopping center
Approximate GLA or Area 11,200 730,800
Percent Leased 100% 75%
Anchor Tenants Eckerd Best Buy, Drug Emporium, DSW Shoe
Warehouse, Linens N Things, Marshalls, Old
Navy, PetsMart, Staples, Stein Mart, Target
(NAP), UIta3
Development
Start Date Jun-96 Sep-97
Expected Completion Date Dec-97 Jun-01
Percent Complete 100% 65%
Project Cost to Date $2,251,000 $70,691,000
Expected Total Project Cost $2,251,000 $108,179,000
Project Bank Debt Outstanding $2,347,000 $41,122,000
Borrower / JV Partner Wilton Partners George Allen / Milton Schaffer
Economic Structure Note receivable Equity / debt investment with 10% preferred
return. The Company has guaranteed $11,000,000
of notes on the property
ERT Percent Ownership 0% 50%
ERT Investment
Direct Equity - $1,803,000
Notes Receivable $90,900 $27,800,000
Interest Rate on Notes Receivable 12% (3) 10%
Maturity Date Dec-99 (5) Apr-10
TAYLORSVILLE VALLEY FAIR APARTMENTS
---------------------------------- -----------------------------------------------
Location Salt Lake City, UT West Valley City, UT
Project Description Land held for retail development Apartments
Approximate GLA or Area 6.3 acres 16 units
Percent Leased - 94%
Anchor Tenants - -
Development
Start Date - Acquired in 1997
Expected Completion Date - -
Percent Complete - 100%
Project Cost to Date $1,877,000 $750,000
Expected Total Project Cost - -
Project Bank Debt Outstanding $0 $0
Borrower / JV Partner - -
Economic Structure - -
ERT Percent Ownership 100% 100%
ERT Investment
Direct Equity $1,877,000 $750,000
Notes Receivable - -
Interest Rate on Notes Receivable - -
Maturity Date - -
</TABLE>
<TABLE>
<CAPTION>
NEW PLAN EXCEL REALTY TRUST, INC.
SUPPLEMENTAL DISCLOSURE - QUARTER ENDED SEPTEMBER 30, 2000
---------------------------------------------------------------------------------------------------------------------------------
SUMMARY OF ERT DEVELOPMENT CORPORATION / NXL JOINT VENTURE PROJECTS
THE CENTRE AT PRESTON RIDGE - PHASE 2 (1) SPRINGTOWN
-----------------------------------------------------------------------------------------
<S> <C> <C>
Location Frisco, TX Springtown, TX
Project Description Land to be sold for retail development Outparcel, adjacent to previously
owned shopping center
Approximate GLA or Area 47.6 acres 1 acre
Percent Leased - -
Anchor Tenants - -
Development
Start Date Jan-99 -
Expected Completion Date Jul-01 -
Percent Complete 90% -
Project Cost to Date $21,859,000 $267,000
Expected Total Project Cost $24,335,000 -
Project Bank Debt Outstanding $21,859,000 $0
Borrower / JV Partner George Allen / Milton Schaffer -
Economic Structure Equity investment with 10% preferred return. The -
Company has guaranteed $26,800,000 of notes on
the property
ERT Percent Ownership 50% 100%
ERT Investment
Direct Equity $0 $267,000
Notes Receivable - -
Interest Rate on Notes Receivable - -
Maturity Date - -
COLONNADES WEST SHOPPING CENTER (1) ANNIE LAND PLAZA (1)
(AKA BROAD STREET) (AKA LOVINGSTON)
----------------------------------------------- --------------------------------------
Location Glen Allen, VA Lovingston, VA
Project Description Community shopping center Grocery-anchored shopping center
Approximate GLA or Area 136,000 42,500
Percent Leased 95% 94%
Anchor Tenants Comp USA, CVS, Marshalls, Office Max Food Lion
Development
Start Date Dec-95 Dec-97
Expected Completion Date Nov-98 Jun-99
Percent Complete 100% 100%
Project Cost to Date $17,170,000 $3,287,000
Expected Total Project Cost $17,170,000 $3,287,000
Project Bank Debt Outstanding $9,618,000 $2,400,000
Borrower / JV Partner Wilton Partners Wilton Partners
Economic Structure Note receivable with 60% profit participation Note receivable with 50% profit
participation
ERT Percent Ownership 0% 0%
ERT Investment
Direct Equity - -
Notes Receivable $6,656,000 $1,006,000
Interest Rate on Notes Receivable 12% 12% (3)
Maturity Date Sept-99 (5) Apr-01 (5)
</TABLE>
<PAGE> 33
NEW PLAN EXCEL REALTY TRUST, INC.
SUPPLEMENTAL DISCLOSURE - QUARTER ENDED SEPTEMBER 30, 2000
-------------------------------------------------------------------------------
SUMMARY OF ERT DEVELOPMENT CORPORATION / NXL JOINT VENTURE PROJECTS PAGE 32
<TABLE>
<CAPTION>
NEW MARKET SHOPPING CENTER (1)
(AKA COTTONWOOD) ATRIUM MEDIA TOWER (1)
---------------------------------------------- -----------------------------------
<S> <C> <C>
Location Varina, VA Toronto, Canada
Project Description Grocery-anchored shopping center Advertising tower
Approximate GLA or Area 40,100 -
Percent Leased 96% -
Anchor Tenants Food Lion -
Development
Start Date Mar-97 Dec-98
Expected Completion Date Oct-98 Oct-99
Percent Complete 100% 100%
Project Cost to Date $3,585,000 $6,500,000
Expected Total Project Cost $3,585,000 $6,500,000
Project Bank Debt Outstanding $2,803,000 $0
Borrower / JV Partner Wilton Partners Gary Sabin Investor Group
Economic Structure Note receivable with 50% profit participation Note receivable
ERT Percent Ownership 0% 0%
ERT Investment
Direct Equity - -
Notes Receivable $718,000 $2,327,000
Interest Rate on Notes Receivable 12% 10%
Maturity Date Feb-01 (5) Jun-02
<CAPTION>
OTHER
-------------------------------
<S> <C>
Location -
Project Description Lines of credit
Approximate GLA or Area -
Percent Leased -
Anchor Tenants -
Development
Start Date -
Expected Completion Date -
Percent Complete -
Project Cost to Date -
Expected Total Project Cost -
Project Bank Debt Outstanding -
Borrower / JV Partner Various
Economic Structure Notes receivable
ERT Percent Ownership 0%
ERT Investment
Direct Equity -
Notes Receivable $1,215,000
Interest Rate on Notes Receivable Various
Maturity Date Various (5)
<CAPTION>
NXL JOINT VENTURE PROJECTS
------------------------------------------------
ATRIUM ON THE BAY (1)
----------------------------------------------
<S> <C>
Location Toronto, Canada
Project Description Mixed-use office and retail commercial property
Approximate GLA or Area 1,050,000
Percent Leased 93%
Anchor Tenants CIBC
Development
Start Date Acquired in March 1996
Expected Completion Date -
Percent Complete 100%
Project Cost to Date $50,741,000 (6)
Expected Total Project Cost $50,741,000 (6)
Project Bank Debt Outstanding $36,735,000 (6)
Borrower / JV Partner The Ellman Companies
Economic Structure Note receivable
ERT Percent Ownership 0%
ERT Investment
Direct Equity -
Notes Receivable $10,705,000
Interest Rate on Notes Receivable 25% (3)
Maturity Date May-03
<CAPTION>
NXL JOINT VENTURE PROJECTS
---------------------------------------------------
ARAPAHOE CROSSINGS (1)
-----------------------------------------------
<S> <C>
Location Aurora, CO
Project Description Community shopping center
Approximate GLA or Area 463,900
Percent Leased 69%
Anchor Tenants King Soopers, Kohl's, Mann Theatre, Marshalls,
Office Max
Development
Start Date Jun-96
Expected Completion Date Aug-01
Percent Complete 78%
Project Cost to Date $49,556,000
Expected Total Project Cost $63,161,000
Project Bank Debt Outstanding $39,256,000
Borrower / JV Partner The Ellman Companies
Economic Structure Note receivable with 50% profit participation
ERT Percent Ownership 0%
ERT Investment
Direct Equity -
Notes Receivable $10,300,000
Interest Rate on Notes Receivable 12%
Maturity Date Sep-04
<CAPTION>
NXL JOINT VENTURE PROJECTS
-------------------------------------------------
SUPERIOR TOWNE CENTER (1)
-----------------------------------------------
<S> <C>
Location Superior, CO
Project Description Community shopping center
Approximate GLA or Area 290,000
Percent Leased 40%
Anchor Tenants Costcox(NAP), Michaels, Office Max, PetsMart,
Target (NAP), T.J. Maxx
Development
Start Date Sep-97
Expected Completion Date Aug-02
Percent Complete 52%
Project Cost to Date $30,451,000
Expected Total Project Cost $59,096,000
Project Bank Debt Outstanding $0
Borrower / JV Partner The Ellman Companies
Economic Structure Note receivable with 50% profit participation
ERT Percent Ownership 0%
ERT Investment
Direct Equity -
Notes Receivable $24,044,000
Interest Rate on Notes Receivable 12%
Maturity Date Sep-04
</TABLE>
(1) Project data is based on information provided by borrower / joint venture
partner.
(2) Project was substantially complete in 1Q 1996. A remaining 27,000 square
foot pad will be completed by 1Q 2001.
(3) The Company and ERT have made certain adjustments to their interest
accrual on these notes.
(4) ERT is currently in negotiations relative to the status of this loan.
(5) As part of October 2, 2000 agreements with the borrower (i) Miami
Gardens, Meadows Tampa and the Wilton Line of Credit were paid off in full;
(ii) ERT acquired ownership to Annie Land Plaza and New Market Shopping
Center; (iii) ERT received the right to acquire in January 2001 Colonnades
West Shopping Center, subject however to the rights of a third party to
acquire the property prior to 2001, and (iv) the borrower relinquished all
of its management, development and ownership interests and rights in and to
Clearwater Mall and The Mall at 163rd Street.
(6) Book basis per partnership financial statements as of August 31, 2000.
NAP - Anchor tenant not owned
The above does not purport to disclose all items required under GAAP.
The Company's 10-K for the year ended December 31, 1999 and 10-Q for the
quarters ended September 30, 2000, June 30, 2000 and March 31, 2000 should be
read in conjunction with the above information.
<PAGE> 34
NEW PLAN EXCEL REALTY TRUST, INC.
SUPPLEMENTAL DISCLOSURE - QUARTER ENDED SEPTEMBER 30, 2000
--------------------------------------------------------------------------------
ERT DEVELOPMENT CORPORATION DISPOSITION ACTIVITY PAGE 33
(IN THOUSANDS)
<TABLE>
<CAPTION>
Sale
Property Name Location Transaction Description Date
----------------------------------------------- ----------------- ----------------------------------------- -----------------
<S> <C> <C> <C>
2Q 2000
The Mall at 163rd Street / Home Depot Miami, FL Home Depot, a tenant at the Mall, 06/13/00
purchased it site and additional
and for expansion and parking
<CAPTION>
Sale Book Gain / Cap-
Property Name Amount Value (Loss) Rate
----------------------------------------------- ---------------- ---------------- ---------------- ------------
<S> <C> <C> <C> <C>
2Q 2000
The Mall at 163rd Street / Home Depot $ 5,100 $ 5,100 $ - 5.9%
<CAPTION>
Square
Property Name NOI (1) Footage
----------------------------------------------- --------------- -------------------------
<S> <C> <C>
2Q 2000
The Mall at 163rd Street / Home Depot $ 300 9.5 acres
</TABLE>
(1) As of closing date of sale.
The above does not purport to disclose all items required under GAAP.
The Company's 10-K for the year ended December 31, 1999 and 10-Q for the
quarters ended September 30, 2000, June 30, 2000 and March 31, 2000 should be
read in conjunction with the above information.
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