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Previous: SEVEN HILLS FINANCIAL CORP, PRES14A, 1996-09-18 |
Next: SIMON DEBARTOLO GROUP INC, S-3/A, 1996-09-18 |
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) : September 18, 1996
SIMON DeBARTOLO GROUP, INC.
-----------------------------------------------------
(Exact name of registrant as specified in its charter)
Maryland 1-12618 35-1901999
- ---------------------------- ----------- ------------------
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
115 WEST WASHINGTON STREET
INDIANAPOLIS, INDIANA 46204
---------------------------------------- ----------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 317.636.1600
Not Applicable
(Former name or former address, if changed since last report)
<PAGE> 2
Item 5. Other Events
On August 9, 1996, Simon Property Group, Inc. (NYSE:SPG) and DeBartolo Realty
Corporation (NYSE:EJD) completed a merger of the two companies. Under the
terms of the merger, DeBartolo shareholders received 0.68 share of Simon common
stock for each share of DeBartolo common stock owned. Stock of the combined,
renamed company, Simon DeBartolo Group, Inc. started trading on the New York
Stock Exchange on August 12, 1996, under the existing SPG ticker symbol.
On September 18, 1996, Simon DeBartolo Group, Inc., made available additional
debt and operational information for the Registrant, Simon DeBartolo Group,
L.P., Simon Property Group, L.P. and properties owned or managed. Also provided
was certain post-merger ownership information. This information was filed in
the form of a Supplemental Information package, a copy of which is included as
an exhibit to this filing. The Supplemental Information package is available
upon request as specified therein.
Item 7. Financial Statements and Exhibits
Financial Statements:
None
Exhibits:
Page Number in
Exhibit No. Description This Filing
- ------------ ---------------- ---------------
99 Supplemental Information 4
as of June 30, 1996
<PAGE> 3
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Dated: September 18, 1996
SIMON DeBARTOLO GROUP, INC.
By: \s\ James M. Barkley
------------------------
James M. Barkley,
Secretary/General Counsel
<PAGE> 4
SIMON DeBARTOLO GROUP
SUPPLEMENTAL INFORMATION
Table of Contents
Information Page
------------------------ ------
Overview 5
Ownership Structure 6
Property Listing 7-15
Portfolio GLA, Occupancy & Rent Data 16-18
Rent Information 19-21
Total Tenant Sales Volume 22
Lease Expirations 23-28
Scheduled Debt Amortization and Maturities 29-31
Summary of Mortgage Indebtedness by Maturity 32-37
Summary of Variable Rate Debt & Interest Rate
Protection Agreements 38-39
New Development Activities 40-41
Renovation/Expansion Activities 42
Capital Expenditures 43
Gains on Sales of Peripheral Land 44
<PAGE> 5
SIMON DeBARTOLO GROUP
Overview
The Company
Simon DeBartolo Group, Inc. (the "Company") (NYSE:SPG) was created as a
result of the merger on August 9, 1996 of Simon Property Group, Inc. ("SPG")
and DeBartolo Realty Corporation ("DRC"). Under the terms of the merger, DRC
shareholders received 0.68 share of SPG common stock for each share of DRC
common stock owned.
Through its majority owned subsidiaries, Simon DeBartolo Group, L.P. and Simon
Property Group, L.P. (the "Operating Partnerships"), the Company owns or has an
interest in 183 properties which consist of existing regional malls, community
shopping centers and specialty and mixed-use properties containing an aggregate
of 111 million square feet of gross leasable area in 33 states. The Company,
together with its affiliated management company, manages approximately 127
million square feet of gross leasable area in retail and mixed-use properties.
This package was prepared to provide (1) ownership information post-merger and
(2) certain operational and debt information for the portfolios of SPG and DRC
as of June 30, 1996, both individually and on a pro forma combined basis.
We hope you find this Supplemental Package beneficial. Any questions, comments
or suggestions should be directed to: Shelly J. Doran, Director of Investor
Relations-Simon DeBartolo Group, P.O. Box 7033, Indianapolis, IN 46207 (317)
685-7330.
<PAGE> 6
SIMON DeBARTOLO GROUP
ECONOMIC OWNERSHIP STRUCTURE
As of August 9, 1996
SIMON DeBARTOLO GROUP, L.P. and SIMON PROPERTY GROUP, L.P. (the "Operating
Partnerships")
Total Common Shares and Units Outstanding = 156,875,851 (1)
Operational Assets:
112 Regional Malls
65 Community Shopping Centers
6 Specialty and Mixed-Use Properties
Partners: %
Simon DeBartolo Group, Inc.
Public Shareholders 59.2%
Simon Family 2.1%
DeBartolo Family 0.0%
Executive Management 0.1%
-----
61.4%
-----
Limited Partners
Simon Family 21.7%
DeBartolo Family 14.2%
Other Limited Partners 2.6%
Executive Management 0.1%
-----
38.6%
-----
100.0%
Simon DeBartolo Group, Inc. (the "Company")(3)
61.4% General Partner of Operating Partnerships
Common Shareholders Shares(2) %
Public Shareholders 92,888,541 96.3%
Simon Family 3,315,101 3.5%
DeBartolo Family 32,585 0.0%
Executive Management 201,963 0.2%
---------- ------
96,438,190 100.0%
(4)
Limited Partners ("Limited Partners")
38.6% Limited Partners of Operating Partnerships
Unitholders Units %
Simon Family 34,101,932 56.4%
DeBartolo Family 22,207,888 36.7%
Executive Management 153,498 0.2%
Other Limited Partners 4,038,322 6.7%
---------- ------
60,501,640 100.0%
(1) Excludes 4 million shares of preferred stock issued on October 27, 1995.
(2) Comprised of 93,234,190 registered shares and 3,204,000 unregistered shares
- Simon Family 3,200,000 Class B common and DeBartolo Family 4,000 Class C
common.
(3) General partner of Simon DeBartolo Group, L.P. and Simon Property Group,L.P.
(4) Number of shares outstanding differs from the number of units units
attributed to Simon DeBartolo Group, Inc. by approximately 65,000 due to
the existence of certain assets of SD Property Group, Inc.
<PAGE> 7-15
<TABLE>
SIMON DeBARTOLO GROUP
Pro Forma Property Listing
As of June 30, 1996
Partnerships' Year Built
Name/ Percentage or
Location Interest (1) Acquired TOTAL GLA
REGIONAL MALLS
<C> <C> <S> <C>
1. Alton Square 100.0 Acquired 545,656
Alton, IL 1993
2. Amigoland Mall 100.0 Built 1974 560,352
Brownsville, TX
3. Anderson Mall 100.0 Built 1972 636,505
Anderson, SC
4. Aventura Mall 33.3 Built 1983 976,574
Miami, FL (2)
5. Avenues, The 25.0 Built 1990 1,113,036
Jacksonville, FL
6. Barton Creek Square 100.0 Built 1981 1,380,814
Austin, TX
7. Battlefield Mall 100.0 Built 1970 1,127,051
Springfield, MO
8. Bay Park Square 100.0 Built 1980 602,780
Green Bay, Wisconsin
9. Bergen Mall 100.0 Acquired 953,498
Paramus, NJ 1987
10. Biltmore Square 66.7 Built 1989 494,283
Asheville, NC (3)
11. Boynton Beach Mall 100.0 Built 1985 1,065,746
Boynton Beach, FL
12. Broadway Square 100.0 Acquired 571,704
Tyler, TX 1994
13. Brunswick Square 100.0 Built 1973 735,171
East Brunswick, NJ
14. Castleton Square 100.0 Built 1972 1,351,716
Indianapolis, IN
15. Century III Mall 50.0 Built 1979 1,289,750
Pittsburgh, PA
16. Century Consumer 100.0 Acquired 398,665
Mall 1982
Merrillville, IN
17. Charles Towne 100.0 Built 1976 463,303
Square
Charleston, SC
18. Chautauqua Mall 100.0 Built 1971 425,644
Lakewood, NY
19. Cheltenham Square 100.0 Built 1981 638,507
Philadelphia, PA
20. Chesapeake Square 75.0 Built 1989 704,983
Chesapeake, VA (3)
21. Cielo Vista Mall 100.0 Built 1974 1,194,474
El Paso, TX
22. Circle Centre 14.7 Built 1995 797,846
Indianapolis, IN
23. College Mall 100.0 Built 1965 697,179
Bloomington, IN
24. Columbia Center 100.0 Acquired 690,503
Kennewick, WA 1987
25. Coral Square 50.0 Built 1984 939,414
Coral Springs, FL
26. Crossroads Mall 100.0 Acquired 872,859
Omaha, NE 1994
27. Crystal River Mall 100.0 Built 1990 425,091
Crystal River, FL
28. Desoto Square 100.0 Built 1973 701,611
Bradenton, FL
29. East Towne Mall 100.0 Built 1984 977,227
Knoxville, TN
30. Eastern Hills Mall 100.0 Built 1971 990,851
Buffalo, NY
31. Eastgate Consumer 100.0 Acquired 462,968
Mall 1981
Indianapolis, IN
32. Eastland Mall 100.0 Built 1986 703,942
Tulsa, OK
33. Florida Mall, The 50.0 Built 1986 1,119,884
Orlando, FL
34. Forest Mall 100.0 Built 1973 486,224
Fond Du Lac, WI
35. Forest Village Park 100.0 Built 1980 417,206
Mall
Forestville, MD
36. Fremont Mall 100.0 Built 1966 208,367
Fremont, NE
37. Glen Burnie Mall 100.0 Built 1963 450,178
Glen Burnie, MD
38. Golden Ring Mall 100.0 Built 1974 719,437
Baltimore, MD
39. Great Lakes Mall 100.0 Built 1961 1,293,096
Cleveland, OH
40. Greenwood Park Mall 100.0 Acquired 1,274,150
Greenwood, IN 1979
41. Gulf View Square 100.0 Built 1980 811,426
Port Richey, FL
42. Heritage Park Mall 100.0 Built 1978 636,889
Midwest City, OK
43. Hutchinson Mall 100.0 Built 1985 525,942
Hutchinson, KS
44. Independence Center 100.0 Acquired 1,033,566
Independence, MO 1994
45. Ingram Park Mall 100.0 Built 1979 1,134,426
San Antonio, TX
46. Irving Mall 100.0 Built 1971 1,127,213
Irving, TX
47. Jefferson Valley 100.0 Built 1983 589,600
Mall
Yorktown Heights, NY
48. La Plaza 100.0 Built 1976 841,573
McAllen, TX
49. Lafayette Square 100.0 Built 1968 1,244,957
Indianapolis, IN
50. Lakeland Square 49.9 Built 1988 901,818
Lakeland, FL
51. Lakeline Mall 50.0 Built 1995 1,102,946
N. Austin, TX
52. Lima Mall 100.0 Built 1965 753,314
Lima, OH
53. Lincolnwood Town 100.0 Built 1990 441,169
Center
Lincolnwood, IL
54. Longview Mall 100.0 Built 1978 617,002
Longview, TX
55. Machesney Park Mall 100.0 Built 1979 555,882
Rockford, IL
56. Mall of the 65.0 Built 1991 779,014
Mainland (3)
Galveston, TX
57. Markland Mall 100.0 Built 1968 391,231
Kokomo, IN
58. McCain Mall 100.0 Built 1973 775,378
N. Little Rock, AR
59. Melbourne Square 100.0 Built 1982 733,842
Melbourne, FL
60. Memorial Mall 100.0 Built 1969 416,273
Sheboygan, WI
61. Miami International 60.0 Built 1982 972,281
Mall
Miami, FL
62. Midland Park Mall 100.0 Built 1980 619,396
Midland, TX
63. Miller Hill Mall 100.0 Built 1973 806,667
Duluth, MN
64. Mission Viejo Mall 100.0 Built 1979 815,466
Mission Viejo, CA
65. Mounds Mall 100.0 Built 1965 409,437
Anderson, IN
66. Muncie Mall 100.0 Built 1970 499,683
Muncie, IN
67. North East Mall 50.0 Built 1971 1,140,403
Hurst, TX (4)
68. North Towne Square 100.0 Built 1980 750,886
Toledo, OH
69. Northfield Square 31.6 Built 1990 533,002
Bradley, IL (3)
70. Northgate Mall 100.0 Acquired 1,049,978
Seattle, WA 1987
71. Northwoods Mall 100.0 Acquired 666,778
Peoria, IL 1983
72. Orange Park Mall 100.0 Acquired 848,549
Jacksonville, FL 1994
73. Paddock Mall 100.0 Built 1980 568,082
Ocala, FL
74. Palm Beach Mall 50.0 Built 1967 1,200,636
West Palm Beach, FL
75. Port Charlotte Town 80.0 Built 1989 720,988
Center (3)
Port Charlotte, FL
76. Prien Lake Mall 100.0 Built 1972 467,520
Lake Charles, LA
77. Raleigh Springs 100.0 Built 1971 885,741
Mall
Memphis, TN
78. Randall Park Mall 100.0 Built 1976 1,531,484
Cleveland, OH
79. Richardson Square 100.0 Built 1977 864,404
Dallas, TX
80. Richmond Mall 100.0 Built 1966 873,227
Cleveland, OH
81. Richmond Square 100.0 Built 1966 310,975
Richmond, IN
82. Rolling Oaks Mall 49.9 Built 1988 758,834
North San Antonio,
TX
83. Ross Park Mall 89.0 Built 1986 1,273,446
Pittsburgh, PA (3)
84. Seminole Towne 45.0 Built 1995 1,132,378
Center
Sanford, FL
85. Smith Haven Mall 25.0 Acquired 1,354,631
Lake Grove, NY 1995
86. South Park Mall 100.0 Built 1975 856,685
Shreveport, LA
87. Southern Park Mall 100.0 Built 1970 1,168,972
Youngstown, OH
88. Southgate Mall 100.0 Acquired 321,177
Yuma, AZ 1988
89. Southtown Mall 100.0 Built 1969 858,196
Ft. Wayne, IN
90. St. Charles Towne 100.0 Built 1990 962,060
Center
Waldorf, MD
91. Summit Mall 100.0 Built 1965 724,578
Akron, OH
92. Sunland Park Mall 100.0 Built 1988 921,357
El Paso, TX
93. Tacoma Mall 100.0 Acquired 1,255,278
Tacoma, WA 1987
94. Tippecanoe Mall 100.0 Built 1973 867,892
Lafayette, IN
95. Towne East Square 100.0 Built 1975 1,151,920
Wichita, KS
96. Towne West Square 100.0 Built 1980 942,158
Wichita, KS
97. Treasure Coast 100.0 Built 1987 884,630
Square
Stuart, FL
98. Tyrone Square 100.0 Built 1972 1,092,449
St. Petersburg, FL
99. University Mall 100.0 Built 1967 565,876
Little Rock, AR
100. University Mall 100.0 Acquired 711,992
Pensacola, FL 1994
101. University Park 60.0 Built 1979 872,234
Mall
South Bend, IN
102. Upper Valley Mall 100.0 Built 1971 750,665
Springfield, OH
103. Valle Vista Mall 100.0 Built 1983 647,117
Harlingen, TX
104. Virginia Center 70.0 Built 1991 788,892
Commons (3)
Richmond, VA (2)
105. Washington Square 100.0 Built 1974 1,178,409
Indianapolis, IN
106. West Ridge Mall 100.0 Built 1988 1,041,611
Topeka, KS (5)
107. West Town Mall 2.0 Acquired 1,261,902
Knoxville, TN 1991
108. White Oaks Mall 77.0 Built 1977 903,578
Springfield, IL
109. Wichita Mall 100.0 Built 1969 379,461
Wichita, KS
110. Windsor Park Mall 100.0 Built 1976 1,089,537
San Antonio, TX
111. Woodville Mall 100.0 Built 1969 795,027
Toledo, OH
SPECIALTY RETAIL CENTERS
1. Forum Shops at 60.0 Built 1992 242,031
Caesars, The
Las Vegas, NV
2. Trolley Square 90.0 Acquired 1986 225,612
Salt Lake City, UT (6)
MIXED-USE PROPERTIES
1. Fashion Centre at 21.0 Built 1989 987,942
Pentagon City, The (7)
Arlington, VA
2. New Orleans 100.0 Built 1988 1,025,634
Centre/CNG Tower (8)
New Orleans, LA
3. O'Hare 100.0 Built 1988 502,012
International (9)
Center
Rosemont, IL
4. Riverway 100.0 Acquired 821,332
Rosemont, IL 1991 (10)
COMMUNITY SHOPPING CENTERS
1. Aurora Plaza 100.0 Built 1965 148,666
Aurora, CO
2. Bloomingdale Court 100.0 Built 1987 598,570
Bloomingdale, IL
3. Boardman Plaza 100.0 Built 1951 649,817
Youngstown, OH
4. Bridgeview Court 100.0 Built 1988 280,299
Bridgeview, IL
5. Brightwood Plaza 100.0 Built 1965 41,893
Indianapolis, IN
6. Bristol Plaza 100.0 Built 1965 116,754
Bristol, VA
7. Buffalo Grove Towne 92.5 Built 1988 134,131
Center
Buffalo Grove, IL
8. Celina Plaza 100.0 Built 1978 32,622
El Paso, TX
9. Chesapeake Center 100.0 Built 1989 299,604
Chesapeake, VA
10. Cobblestone Court 35.0 Built 1993 261,211
Victor, NY
11. Cohoes Commons 100.0 Built 1984 262,964
Rochester, NY
12. Cook's Discount 100.0 Built 1969 60,396
Ardmore, OK (11)
13. Countryside Plaza 100.0 Built 1977 435,441
Countryside, IL
14. Crystal Court 35.0 Built 1989 284,741
Crystal Lake, IL
15. East Towne Commons 100.0 Built 1987 180,355
Knoxville, TN
16. Eastland Plaza 100.0 Built 1986 190,261
Tulsa, OK
17. Fairfax Court 26.3 Built 1992 249,285
Fairfax, VA
18. Forest Plaza 100.0 Built 1985 421,516
Rockford, IL
19. Fox River Plaza 100.0 Built 1985 324,786
Elgin, IL
20. Gaitway Plaza 23.3 Built 1989 230,052
Ocala, FL
21. Great Lakes Plaza 100.0 Built 1977 162,873
Cleveland, OH
22. Great Northeast 50.0 Acquired 298,242
Plaza 1989
Philadelphia, PA
23. Greenwood Plus 100.0 Built 1979 145,116
Greenwood, IN
24. Griffith Park Plaza 100.0 Built 1979 274,230
Griffith, IN
25. Grove at Lakeland 100.0 Built 1988 215,463
Square, The
Lakeland, FL
26. Hammond Square 100.0 Built 1974 87,705
Sandy Springs, GA
27. Highland Lakes 100.0 Built 1991 477,452
Center
Orlando, FL
28. Ingram Plaza 100.0 Built 1980 111,518
San Antonio, TX
29. Lake Plaza 100.0 Built 1986 218,208
Waukegan, IL
30. Lake View Plaza 100.0 Built 1986 388,126
Orland Park, IL
31. Lima Center 100.0 Built 1976 201,154
Lima, OH
32. Lincoln Crossing 100.0 Built 1990 161,337
O'Fallon, IL
33. Mainland Crossing 80.0 Built 1991 390,986
Galveston, TX (3)
34. Maplewood Square 100.0 Built 1970 129,190
Omaha, NE
35. Markland Plaza 100.0 Built 1974 108,296
Kokomo, IN
36. Martinsville Plaza 100.0 Built 1967 102,162
Martinsville, VA
37. Marwood Plaza 100.0 Built 1962 105,066
Indianapolis, IN
38. Matteson Plaza 100.0 Built 1988 275,455
Matteson, IL
39. Memorial Plaza 100.0 Built 1966 129,202
Sheboygan, WI
40. Mounds Mall Cinema 100.0 Built 1974 7,500
Anderson, IN
41. New Castle Plaza 100.0 Built 1966 91,648
New Castle, IN
42. North Ridge Plaza 100.0 Built 1985 323,672
Joliet, IL
43. North Riverside 100.0 Built 1977 119,608
Park Plaza
North Riverside, IL
44. Northland Plaza 100.0 Built 1988 205,635
Columbus, OH
45. Northwood Plaza 100.0 Built 1974 211,840
Fort Wayne, IN
46. Park Plaza 100.0 Built 1968 114,042
Hopkinsville, KY
47. Plaza at Buckland 26.3 Built 1993 336,534
Hills, The
East Hartford, CT
48. Regency Plaza 100.0 Built 1988 277,521
St. Charles, MO
49. Ridgewood Court 35.0 Built 1993 240,843
Jackson, MS
50. Royal Eagle Plaza 35.0 Built 1989 203,140
Coral Springs, FL
51. Sooperland 100.0 Built 1966 98,215
(Arvada Plaza)
Arvada, CO
52. St. Charles Towne 100.0 Built 1987 435,162
Plaza
Waldorf, MD
53. Teal Plaza 100.0 Built 1962 110,751
Lafayette, IN
54. Terrace at The 100.0 Built 1989 332,980
Florida Mall
Orlando, FL
55. Tippecanoe Plaza 100.0 Built 1974 94,125
Lafayette, IN
56. University Center 60.0 Built 1980 150,533
South Bend, IN
57. Village Park Plaza 35.0 Built 1990 503,002
Westfield, IN
58. Wabash Village 100.0 Built 1970 124,688
West Lafayette, IN
59. Washington Plaza 85.0 Built 1978 50,302
Indianapolis, IN (3)
60. West Ridge Plaza 100.0 Built 1988 232,675
Topeka, KS
61. West Town Corners 23.3 Built 1989 384,812
Altamonte Springs,
FL
62. Westland Park Plaza 23.3 Built 1989 163,154
Orange Park, FL
63. White Oaks Plaza 100.0 Built 1986 389,063
Springfield, IL
64. Willow Knolls Court 35.0 Built 1990 364,735
Peoria, IL
65. Wood Plaza 100.0 Built 1968 88,595
Fort Dodge, IA
66. Yards Plaza, The 35.0 Built 1990 273,292
Chicago, IL
PROPERTY OPENED SUBSEQUENT TO JUNE 30, 1996
1. Cottonwood Mall 100.0 Built 1996 1,035,000
Albuquerque, NM
___________
</TABLE>
(1) The "Operating Partnerships" are Simon DeBartolo Group, L.P. and
Simon Property Group, L.P. The Operating Partnerships' interests in
some Joint Venture Properties are subject to preferences on
distributions in favor of other partners.
(2) Managed by a third party.
(3) The Operating Partnerships receive substantially all of the economic
benefit of this property as a result of advances made.
(4) The Operating Partnerships have received an assignment of
distributions in respect of the Simons' 50% general partnership
interest in this property. In addition, the Simons have granted the
Operating Partnerships an option to purchase the Simons' general
partnership interest for one dollar, and to purchase the Simons' 30%
limited partnership interest if consents to such transfers can be
obtained. The purchase price is fair market value. The general and
limited partners have the right to put their interests to the
Operating Partnerships at the same price as provided under the
option. Certain limited partners have filed an action challenging
the Operating Partnerships right to receive these interests in the
partnership. The Simons have agreed to indemnify the Operating
Partnerships against any and all damages and costs relating to such
action.
(5) Includes outlots in which the Operating Partnerships have an 85%
interest and which represents less than 3% of the GLA and total
annualized base rent for the property.
(6) Includes approximately 1,500 square feet of office space.
(7) Includes approximately 167,000 square feet of office space.
(8) Includes approximately 489,000 square feet of office space.
(9) Includes approximately 12,800 square feet of retail space.
(10) Includes approximately 24,300 square feet of retail space.
(11) This Property was sold subsequent to June 30, 1996.
<PAGE> 16
SIMON DeBARTOLO GROUP
(SPG & DRC COMBINED)
Pro Forma Portfolio GLA, Occupancy & Rent Data
As of June 30, 1996
Avg. Annualized
% Owned Base Rent Per
Total % of GLA Which Leased Sq.Ft.
Type of Property GLA-Sq. Ft. Owned GLA Owned GLA is Leased of Owned GLA
- ---------------- ----------- ---------- --------- --------- --------------
Regional Malls
- -Anchor 59,280,749 20,025,108 30.6% 96.9% $3.18
- -Mall Store 32,255,514 32,255,514 49.4% 83.2% 20.47
- -Freestanding 1,251,647 599,826 0.9% 93.6% 6.83
Subtotal 33,507,161 32,855,340 50.3% 83.4% $20.18
Reg Mall Total 92,787,910 52,880,448 80.9% 88.5% $13.08
Community Shopping Centers
- -Anchor 10,462,344 6,420,675 9.8% 92.3% $6.03
- -Mall Store 3,882,220 3,801,130 5.9% 90.3% 9.89
- -Freestanding 768,648 284,809 0.4% 100.0% 7.06
Cmty Ctr Total 15,113,212 10,506,614 16.1% 91.8% $7.44
Mixed-Use Properties
- -Office Portion 1,943,676 1,943,676 3.0% 93.4% $19.05
GRAND TOTAL(1) 109,844,798 65,330,738 100.0% 89.2% $12.31
Occupancy History
Community
As of Regional Malls(2) Shopping Centers(3)
6/30/96 83.4% 91.8%
6/30/95 84.3% 93.7%
12/31/95 85.5% 93.1%
12/31/94 85.6% 93.7%
12/31/93 85.9% (4)
12/31/92 85.9% (4)
(1) Excludes Cottonwood Mall which opened 7/96 and Cook's Discount which was
sold 8/96.
(2) Includes mall and freestanding stores.
(3) Includes all Owned GLA.
(4) Information not available as community shopping center statistics for the
DRC portfolio were not historically calculated.
<PAGE> 17
SIMON PROPERTY GROUP
Portfolio GLA, Occupancy & Rent Data
As of June 30, 1996
Avg.Annualzd
% Owned Base Rnt Per
Total % of GLA Whch Lsd Sq.Ft.
Type of Property GLA-Sq. Ft. Ownd GLA Ownd GLA is Leasd of Ownd GLA
Regional Malls
- -Anchor 30,559,944 9,705,228 26.0% 97.3% $3.00
- -Mall Store 17,295,319 17,295,319 46.5% 82.8% 20.20
- -Freestanding 1,109,786 458,263 1.2% 95.4% 6.55
Subtotal 18,405,105 17,753,582 47.7% 83.1% $19.79
Reg Mall Total 48,965,049 27,458,810 73.7% 88.2% $13.14
Community
Shopping Centers
- -Anchor 8,096,208 5,121,065 13.7% 93.3% $6.07
- -Mall Store 3,021,730 2,940,640 7.9% 90.6% 9.91
- -Freestanding 765,868 284,809 0.8% 100.0% 7.06
Cmty Ctr. Tot. 11,883,806 8,346,514 22.4% 92.6% $7.44
Mixed-Use
Properties
- -Office Portion 1,454,916 1,454,916 3.9% 92.3% $20.34
GRAND TOTAL(1) 62,303,771 37,260,240 100.0% 89.3% $12.10
Occupancy History
Community
As of Regional Malls(2) Shopping Centers(3)
6/30/96 83.1%(4) 92.6%
6/30/95 84.6% 94.6%
12/31/95 86.4% 95.1%
12/31/94 86.2% 94.6%
12/31/93 85.6% 89.3%
12/31/92 84.6% 89.3%
(1) Excludes Cottonwood Mall which opened 7/96 and Cook's Discount, which
was sold 8/96.
(2) Includes mall and freestanding stores.
(3) Includes all Owned GLA.
(4) The Company is actively de-leasing two centers, Charles Towne Square
and Southtown Mall, in anticipation of de-malling these properties.
The SPG regional mall portfolio occupancy excluding these centers is
84.5%, as compared to the reported 83.1%.
<PAGE> 18
DeBARTOLO REALTY CORPORATION
Portfolio GLA, Occupancy & Rent Data
As of June 30, 1996
Avg.Annualzd
% Owned Base Rnt Per
Total % of GLA Which Lsd Sq.Ft.
Type of Pprty GLA-Sq. Ft. Owned GLA Owned GLA is Lsd of Owned GLA
Regional Malls
- -Anchor 28,720,805 10,319,880 36.8% 96.5% $3.35
- -Mall Store 14,960,195 14,960,195 53.3% 83.7% $20.77
- -Freestanding 141,861 141,563 .5% 88.0% 7.80
Subtotal 15,102,056 15,101,758 53.8% 83.8% $20.64
Regional Mall
Total 43,822,861 25,421,638 90.6% 88.9% $13.02
Community
Shopping Centers
- -Anchor 2,366,136 1,299,610 4.6% 88.5% $5.85
- -Mall Store 860,490 860,490 3.1% 89.3% 9.82
- -Freestanding 2,780 0 0.0% N/A N/A
Cmty Ctr. Total 3,229,406 2,160,100 7.7% 88.8% $7.44
Mixed-Use
Properties
- -Office Portion 488,760 488,760 1.7% 96.7% $15.37
GRAND TOTAL 47,541,027 28,070,498 100.0% 89.0% $12.59
Occupancy History
Community
As of Regional Malls(1) Shopping Centers(2)
6/30/96 83.8 % 88.8%
6/30/95 84.0% 91.4%
12/31/95 84.4% 87.9%
12/31/94 85.0% 91.3%
12/31/93 86.2% (3)
12/31/92 87.2% (3)
(1) Includes mall and freestanding stores.
(2) Includes all Owned GLA.
(3) Information not available as community shopping center statistics
were not historically calculated.
<PAGE> 19
SIMON DeBARTOLO GROUP
(SPG & DRC COMBINED)
Pro Forma Rent Information
As of June 30, 1996
Average Base Rent
Mall & Freestanding % Community %
As of Strs @ Regnl Malls Change Shopping Cntrs Change
- -------- ------------------- ------ -------------- ------
6/30/96 $20.18 7.3% $7.44 3.0%
6/30/95 18.80 - 7.22 -
12/31/95 19.18 4.4 7.28 2.2
12/31/94 18.37 3.8 7.12 N/A
12/31/93 17.70 5.0 N/A N/A
12/31/92 16.85 N/A N/A N/A
<PAGE> 20
SIMON PROPERTY GROUP
Rent Information
As of June 30, 1996
Average Base Rent
Mall & Freestanding % Community %
As of Strs @ Regnl Malls Change Shopping Cntrs Change
- -------- ------------------- ------ -------------- ------
6/30/96 $19.79 9.6% $7.44 3.2%
6/30/95 18.06 - 7.21 -
12/31/95 18.68 7.2 7.27 2.5
12/31/94 17.43 3.1 7.09 3.1
12/31/93 16.91 4.8 6.88 1.5
12/31/92 16.14 7.9 6.78 8.1
Rental Rates
Base Rent (1)
Store Opnings Store Clsings Amount of Change
Year During Period During Period Dollar Percentage
Regional Malls:
1996 (YTD) $22.20 $16.81 $5.39 32.1%
1995 21.92 16.54 5.38 32.5
1994 18.67 13.35 5.32 39.9
1993 21.45 15.18 6.27 41.3
1992 20.09 14.21 5.88 41.4
Community Shopping Centers:
1996 (YTD) $9.52 $7.18 $2.34 32.6%
1995 10.00 8.78 1.22 13.9
1994 10.43 11.33 (0.90) (7.9)
1993 11.66 9.59 2.07 21.6
1992 9.40 9.08 0.32 3.5
(1)Represents the average base rent in effect during the period for those
tenants who signed leases as compared to the average base rent in effect
during the period for those tenants who closed or whose leases expired.
<PAGE> 21
DeBARTOLO REALTY CORPORATION
Rent Information
As of June 30, 1996
Average Base Rent
Mall & Freestanding % Community %
As of Stores at Regional Malls Change Shopping Cntrs Change
- -------- ------------------------ ------ -------------- ------
6/30/96 $20.64 5.1% $7.44 2.2%
6/30/95 19.59 - 7.28 -
12/31/95 19.78 2.0 7.34 1.2
12/31/94 19.39 4.6 7.25 N/A
12/31/93 18.49 5.1 N/A N/A
12/31/92 17.54 6.5 N/A N/A
Rental Rates
Base Rent
Store Opnings Store Clsings Amount of Change
Year During Prd During Prd Dollar Percentage
Regional Malls:
1996 (YTD) $22.92 $19.28 $3.64 18.9%
1995 25.10 20.46 4.64 22.7
1994 23.01 18.69 4.32 23.1
1993 23.06 17.08 5.98 35.0
1992 21.03 15.86 5.17 32.6
Community Shopping Centers:
1996 (YTD) $13.23 $13.56 $(0.33) -2.4%
1995 10.94 10.45 0.49 4.7
1994 8.09 8.17 (0.08) -1.0
1993 5.62 5.97 (0.35) -5.9
1992 9.61 9.40 0.21 2.2
<PAGE> 22
SIMON DeBARTOLO GROUP
(SPG & DRC COMBINED)
Pro Forma Total Tenant Sales Volume (1)
As of June 30, 1996
(In millions)
SPG DRC Combined
Regional Malls (2)
1/1/96 to 6/30/96 $ 1,572 $ 1,229 $ 2,801
1/1/95 to 6/30/95 1,385 1,213 2,598
1995 3,285 2,813 6,098
1994 3,266 2,787 6,053
1993 3,022 2,805 5,827
Community Shopping Centers (3)
1/1/96 to 6/30/96 $ 542 $ 58 $ 600
1/1/95 to 6/30/95 584 56 640
1995 1,272 147 1,419
1994 1,284 135 1,419
1993 1,200 119 1,319
(1) Represents only those tenants who report sales.
(2) Based upon the new standard definition of sales for regional malls adopted
by the International Council of Shopping Centers which includes only mall
and freestanding stores.
(3) Includes all owned GLA.
<PAGE> 23-24
SIMON DeBARTOLO GROUP
(SPG & DRC COMBINED)
Pro Forma Lease Expirations (1)
As of June 30, 1996
Avg. Base
Rent
Number of per Square
Leases Foot at
Year Expiring Square Feet 6/30/96
Regional Malls -
Mall & Freestanding
Stores
1996 (7/1 - 12/31) 210 370,588 $21.70
1997 1,138 2,474,960 19.11
1998 1,122 2,115,621 21.88
1999 1,027 2,243,284 21.85
2000 1,022 2,346,792 22.24
2001 922 2,329,297 20.41
2002 633 1,888,266 20.90
2003 698 1,941,386 22.42
2004 659 2,155,919 20.90
2005 639 2,209,795 20.15
2006 723 2,311,220 21.87
TOTALS 8,793 22,387,128 $21.15
Regional Malls -
Anchor Tenants
1996 (7/1 - 12/31) 2 127,230 $2.24
1997 8 946,056 1.56
1998 14 2,154,640 1.70
1999 13 1,667,816 1.74
2000 11 1,748,754 1.96
2001 14 1,756,072 2.20
2002 4 434,900 1.77
2003 6 528,521 4.19
2004 14 1,256,589 4.01
2005 14 1,683,678 2.47
2006 12 1,371,666 3.80
TOTALS 112 13,675,922 $2.41
Community Centers -
Mall Stores &
Freestanding Stores
1996 (7/1 - 12/31) 12 39,817 $7.03
1997 152 416,328 10.81
1998 164 465,586 10.66
1999 149 541,555 10.02
2000 135 572,613 9.34
2001 96 316,124 11.14
2002 36 205,950 8.85
2003 27 194,585 9.49
2004 22 131,818 10.97
2005 29 248,208 8.22
2006 15 134,034 9.13
TOTALS 837 3,266,618 $9.92
Community Centers -
Anchor Tenants
1996 (7/1 - 12/31) 3 61,256 $6.64
1997 11 350,433 5.34
1998 2 91,695 5.10
1999 8 301,015 4.37
2000 5 217,813 4.43
2001 11 478,603 3.45
2002 4 172,760 6.64
2003 7 248,553 6.57
2004 7 168,853 6.03
2005 10 571,454 5.77
2006 9 568,260 5.72
TOTALS 77 3,230,695 $5.27
(1) Does not consider the impact of options that may be
contained in leases.
<PAGE> 25-26
SIMON PROPERTY GROUP
Lease Expirations (1)
As of June 30, 1996
Number of Square Avg. Base Rent
Year Leases Feet per Square Foot
Expiring at 6/30/96
Regional Malls -
Mall & Freestanding
Stores
1996 (7/1 - 12/31) 83 188,394 $17.97
1997 675 1,573,382 17.44
1998 604 1,009,841 20.91
1999 586 1,346,366 20.50
2000 530 1,187,246 22.16
2001 513 1,357,279 19.05
2002 323 1,014,870 20.63
2003 336 982,755 21.02
2004 357 1,116,345 20.78
2005 327 1,195,650 19.12
2006 495 1,534,259 22.10
TOTALS 4,829 12,506,387 $20.28
Regional Malls -
Anchor Tenants
1996 (7/1 - 12/31) 2 127,230 $2.24
1997 6 592,036 1.59
1998 6 871,029 1.68
1999 8 1,082,410 1.72
2000 6 723,869 2.56
2001 8 924,778 2.08
2002 2 222,540 1.78
2003 3 255,227 3.54
2004 9 715,572 4.54
2005 6 675,033 2.31
2006 7 755,481 4.01
TOTALS 63 6,945,205 $2.50
Community Centers -
Mall Stores &
Freestanding Stores
1996 (7/1 - 12/31) 8 31,095 $5.58
1997 118 310,943 10.71
1998 126 345,090 11.11
1999 118 396,470 10.73
2000 110 486,074 9.03
2001 78 253,949 11.17
2002 26 138,877 8.62
2003 21 157,684 8.94
2004 20 121,352 11.13
2005 23 210,946 7.76
2006 11 117,143 8.98
TOTALS 659 2,569,623 $9.90
Community Centers -
Anchor Tenants
1996 (7/1 - 12/31) 3 61,256 $6.64
1997 10 291,550 5.55
1998 1 55,695 5.49
1999 7 263,019 4.39
2000 5 217,813 4.43
2001 10 397,756 3.73
2002 3 146,520 6.13
2003 7 248,553 6.57
2004 6 150,943 5.80
2005 9 437,915 7.01
2006 7 460,400 5.95
TOTALS 68 2,731,420 $5.57
(1) Does not consider the impact of options that may be
contained in leases.
<PAGE> 27-28
DeBARTOLO REALTY CORPORATION
Lease Expirations (1)
As of June 30, 1996
Number of Square Avg. Base Rent
Year Leases Feet per Square Foot
Expiring at 6/30/96
Regional Malls -
Mall & Freestanding
Stores
1996 (7/1 - 12/31) 127 182,194 $25.55
1997 463 901,578 22.03
1998 518 1,105,780 22.77
1999 441 896,918 23.88
2000 492 1,159,546 22.32
2001 409 972,018 22.32
2002 310 873,396 21.21
2003 362 958,631 23.86
2004 302 1,039,574 21.03
2005 312 1,014,145 21.36
2006 228 776,961 21.43
TOTALS 3,964 9,880,741 $22.29
Regional Malls -
Anchor Tenants
1996 (7/1 - 12/31) 0 0 $0.00
1997 2 354,020 1.50
1998 8 1,283,611 1.71
1999 5 585,406 1.77
2000 5 1,024,885 1.53
2001 6 831,294 2.33
2002 2 212,360 1.75
2003 3 273,294 4.80
2004 5 541,017 3.30
2005 8 1,008,645 2.57
2006 5 616,185 3.55
TOTALS 49 6,730,717 $2.31
Community Centers -
Mall Stores &
Freestanding Stores
1996 (7/1 - 12/31) 4 8,722 $12.18
1997 34 105,385 11.12
1998 38 120,496 9.38
1999 31 145,085 8.07
2000 25 86,539 11.07
2001 18 62,175 11.02
2002 10 67,073 9.32
2003 6 36,901 11.82
2004 2 10,466 9.17
2005 6 37,262 10.82
2006 4 16,891 10.19
TOTALS 178 696,995 $9.98
Community Centers -
Anchor Tenants
1996 (7/1 - 12/31) 0 0 $0.00
1997 1 58,883 4.29
1998 1 36,000 4.50
1999 1 37,996 4.27
2000 0 0 0.00
2001 1 80,847 2.10
2002 1 26,240 9.50
2003 0 0 0.00
2004 1 17,910 8.00
2005 1 133,539 1.72
2006 2 107,860 4.75
TOTALS 9 499,275 $3.77
(1) Does not consider the impact of options that may be
contained in leases.
<PAGE> 29
<TABLE>
SIMON DeBARTOLO GROUP
(SPG & DRC COMBINED)
Pro Forma Scheduled Debt
Amortization and Maturities
As of June 30, 1996
(In thousands)
SPG & DRC's SPG & DRC's
Combined Share Combined Share
Scheduled Scheduled of Scheduled of Scheduled
Year Amortization Maturities Total Amortization Maturities Total
Consolidated
Properties
<C> <C> <C> <C> <C> <C> <C>
1996 7,396 200,782 208,178 7,232 200,782 208,014
1997 20,876 107,200 128,076 20,295 107,200 127,495
1998 19,928 285,880 305,808 19,305 278,439 297,744
1999 23,206 261,808 285,014 22,537 261,808 284,345
2000 25,583 326,005 351,588 24,864 282,818 307,682
2001 23,941 643,025 666,966 23,682 609,883 633,565
2002 19,054 433,258 452,312 18,714 418,319 437,033
2003 13,218 318,448 331,666 12,750 301,129 313,879
2004 8,153 161,256 169,409 7,941 161,256 169,197
2005 8,126 99,101 107,227 7,898 99,101 106,999
Thereafter 0 278,810 278,810 0 258,950 258,950
$169,481 $3,115,573 $3,285,054 $165,218 $2,979,685 $3,144,903
Corporate Credit
Facilities
1996 0 0 0 0 0 0
1997 0 0 0 0 0 0
1998 0 373,000 373,000 0 373,000 373,000
Total
Consolidated Debt $169,481 $3,488,573 $3,658,054 $165,218 $3,352,685 $3,517,903
Joint Ventures
1996 1,798 6,509 8,307 706 3,040 3,746
1997 2,491 9,200 11,691 1,059 3,067 4,126
1998 2,206 175,000 177,206 902 70,830 71,732
1999 2,401 142,330 144,731 981 49,272 50,253
2000 2,149 98,650 100,799 859 44,964 45,823
2001 4,468 0 4,468 1,674 0 1,674
2002 4,714 46,198 50,912 1,753 23,100 24,853
2003 2,745 166,649 169,394 996 69,653 70,649
2004 2,747 0 2,747 957 0 957
2005 0 160,471 160,471 0 58,144 58,144
Thereafter 0 135,193 135,193 0 38,846 38,846
Total Joint
Venture Debt $25,719 $940,200 $965,919 $9,887 $360,916 $370,803
NOTE: 1996 consolidated properties maturities includes $72,103 which has been extended for up to
3 years and $63,079 which has received a commitment for an extension for up to 3 years.
</TABLE>
<PAGE> 30
<TABLE>
Simon Property Group
Scheduled Debt Amortization and Maturities
As of June 30, 1996
(In thousands)
SPG's SPG's
Share Share
of of
Scheduled Scheduled Scheduled Scheduled
Year Amortization Maturities Total Amortiza- Maturities Total
tion
Consolidated
Properties
<C> <C> <C> <C> <C> <C> <C>
1996 3,684 63,079 66,763 3,684 63,079 66,763
1997 11,823 107,200 119,023 11,823 107,200 119,023
1998 10,104 285,880 295,984 10,104 278,439 288,543
1999 12,673 253,339 266,012 12,673 253,339 266,012
2000 14,220 326,005 340,225 14,220 282,814 297,034
2001 15,299 0 15,299 15,299 0 15,299
2002 14,278 86,144 100,422 14,278 86,144 100,422
2003 8,486 275,150 283,636 8,486 275,150 283,636
2004 3,745 161,256 165,001 3,745 161,256 165,001
2005 4,092 0 4,092 4,092 0 4,092
Thereafter 0 211,082 211,082 0 211,082 211,082
$98,404 $1,769,135 $1,867,539 $98,404 $1,718,503 $1,816,907
Corporate
Credit Facilities
1996 0 0 0 0 0 0
1997 0 0 0 0 0 0
1998 0 311,000 311,000 0 311,000 311,000
Total
Consolidated Debt $98,404 $2,080,135 $2,178,539 $98,404 $2,029,503 $2,127,907
Joint Ventures
1996 112 5,000 5,112 56 2,500 2,556
1997 241 0 241 120 0 120
1998 267 0 267 134 0 134
1999 295 142,330 142,625 148 49,272 49,420
2000 119 21,639 21,758 36 10,820 10,856
2001 2,221 0 2,221 775 0 775
2002 2,384 0 2,384 832 0 832
2003 2,559 0 2,559 892 0 892
2004 2,747 0 2,747 957 0 957
2005 0 160,471 160,471 0 58,144 58,144
Thereafter 0 117,193 117,193 0 29,846 29,846
Total Joint
Venture Debt $10,945 $446,633 $457,578 $3,950 $150,582 $154,532
NOTE: 1996 consolidated properties maturities includes $63,079 which has received a
commitment for an extension for up to 3 years.
</TABLE>
<PAGE> 31
<TABLE>
DeBARTOLO REALTY CORPORATION
Scheduled Debt Amortization and Maturities
As of June 30, 1996
(In thousands)
DRC's Share DRC's Share
Scheduled Scheduled of Scheduled of Scheduled
Year Amortization Maturities Total Amortization Maturities Total
Consolidated
Properties
<C> <C> <C> <C> <C> <C> <C>
1996 3,712 137,703 141,415 3,548 137,703 141,251
1997 9,053 0 9,053 8,472 0 8,472
1998 9,824 0 9,824 9,201 0 9,201
1999 10,533 8,469 19,002 9,864 8,469 18,333
2000 11,363 0 11,363 10,644 0 10,644
2001 8,642 643,025 651,667 8,383 609,883 618,266
2002 4,776 347,114 351,890 4,436 332,175 336,611
2003 4,732 43,298 48,030 4,264 25,979 30,243
2004 4,408 0 4,408 4,196 0 4,196
2005 4,034 99,101 103,135 3,806 99,101 102,907
Thereafter 0 67,728 67,728 0 47,868 47,868
$71,077 $1,346,438 $1,417,515 $66,814 $1,261,178 $1,327,992
Corporate
Credit
Facilities
1996 0 0 0 0 0 0
1997 0 0 0 0 0 0
1998 0 62,000 62,000 0 62,000 62,000
Total
Consolidated
Debt $71,077 $1,408,438 $1,479,515 $66,814 $1,323,178 $1,389,992
Joint Ventures
1996 1,686 1,509 3,195 650 540 1,190
1997 2,250 9,200 11,450 939 3,067 4,006
1998 1,939 175,000 176,939 768 70,830 71,598
1999 2,106 0 2,106 833 0 833
2000 2,030 77,011 79,041 823 34,144 34,967
2001 2,247 0 2,247 899 0 899
2002 2,330 46,198 48,528 921 23,100 24,021
2003 186 166,649 166,835 104 69,653 69,757
2004 0 0 0 0 0 0
2005 0 0 0 0 0 0
Thereafter 0 18,000 18,000 0 9,000 9,000
Total Joint $14,774 $493,567 $508,341 $5,937 $210,334 $216,271
Venture Debt
NOTE: 1996 consolidated properties maturities includes $72,103 which has been extended for up
to 3 years.
</TABLE>
<PAGE> 32-37
<TABLE>
SIMON DeBARTOLO GROUP
(SPG & DRC COMBINED)
Pro Forma Summary of
Mortgage Indebtedness
By Maturity
As of June 30, 1996
(In thousands)
Principal SPG & DRC's Weighted Average
SPG/ Property Maturity Interest Balance Combined Share Interest Rate
DRC(4) Name Date Rate 6/30/96 of Loan Balance by Year
<S> <C> <C> <C> <C> <C>
Consolidated
Properties:
Fixed Rate Debt:
D Boynton Beach Mall (3) 09/96 8.00% 72,103 72,103
D Castleton Square 11/01/96 8.34% 65,600 65,600
Subtotal 1996 137,703 137,703 8.16%
Subtotal 1997 0 0
S White Oaks Mall 03/01/98 7.70% 16,500 9,061
S Ross Park Mall 08/15/98 6.14% 60,000 60,000
Subtotal 1998 76,500 69,061 6.48%
D Great Lakes Mall 03/01/99 7.07% 8,772 8,772
S West Ridge Mall 06/01/99 8.00% 50,306 50,306
S Ingram Park Mall 11/01/99 9.63% 7,000 7,000
S Ingram Park Mall 12/01/99 8.10% 49,423 49,423
S Barton Creek Square 12/30/99 8.10% 63,958 63,958
S La Plaza Mall 12/30/99 8.25% 50,815 50,815
Subtotal 1999 230,274 230,274 8.12%
S Windsor Park Mall 06/01/00 8.00% 6,044 6,044
S Trolley Square 07/23/00 5.81% 19,000 17,100
S Bloomingdale Court 12/01/00 8.75% 29,009 29,009
S Forest Plaza 12/01/00 8.75% 17,354 17,354
S Fox River Plaza 12/01/00 8.75% 12,654 12,654
S Lake View Plaza 12/01/00 8.75% 22,169 22,169
S Lincoln Crossing 12/01/00 8.75% 997 997
S Matteson Plaza 12/01/00 8.75% 11,159 11,159
S Regency Plaza 12/01/00 8.75% 1,878 1,878
S St. Charles Towne Pl 12/01/00 8.75% 30,887 30,887
S West Ridge Plaza 12/01/00 8.75% 4,612 4,612
S White Oaks Plaza 12/01/00 8.75% 12,345 12,345
Subtotal 2000 168,108 166,208 8.39%
D Biltmore Square 01/01/01 7.15% 28,843 18,731
D Chesapeake Square 01/01/01 7.28% 59,219 43,674
D Port Charlotte 01/01/01 7.28% 46,778 37,422
D Great Lakes Mall 03/01/01 6.74% 54,483 54,483
D Securitized Debt Fin (1) 03/01 8.12% 366,805 366,805
Subtotal 2001 556,128 521,115 7.77%
D Gulf View Square 01/01/02 9.92% 38,600 38,600
D Paddock Mall 01/01/02 9.92% 30,700 30,700
D Columbia Shopping Ct 03/01/02 7.62% 43,605 43,605
D Lima Mall 03/01/02 7.12% 19,527 19,527
D Northgate Shopping Ctr 03/01/02 7.62% 81,426 81,426
D Tacoma Mall 03/02/02 7.62% 95,269 95,269
S Crossroads Mall 07/31/02 7.75% 41,440 41,440
S North Riverside Park 09/01/02 9.38% 4,155 4,155
S North Riverside Park 09/01/02 10.00% 3,698 3,698
S Hutchinson Mall 10/01/02 8.44% 11,523 11,523
S Markland Mall 12/15/02 6.75% 10,000 10,000
S Muncie Mall 12/15/02 6.75% 24,000 24,000
Subtotal 2002 403,943 403,943 7.99%
S Battlefield Mall 06/01/03 7.50% 51,271 51,271
S South Park Mall 06/15/03 7.25% 24,748 24,748
S Anderson Mall 12/15/03 6.74% 19,000 19,000
S Forest Mall 12/15/03 6.74% 12,800 12,800
S Forest Village Park 12/15/03 6.16% 20,600 20,600
S Golden Ring Mall 12/15/03 6.74% 29,750 29,750
S Longview Mall 12/15/03 6.16% 22,100 22,100
S Midland Park Mall 12/15/03 6.31% 22,500 22,500
S Miller Hill Mall 12/15/03 6.74% 34,500 34,500
S North Towne Square 12/15/03 6.31% 23,500 23,500
S Towne West Square 12/15/03 6.16% 40,250 40,250
D Miami International 12/21/03 6.91% 47,500 28,500
Subtotal 2003 348,519 329,519 6.72%
S Cielo Vista Mall 07/01/04 8.13% 2,413 2,413
S College Mall 07/01/04 7.00% 43,727 43,727
S Greenwood Park Mall 07/01/04 7.00% 36,623 36,623
S Tippecanoe Mall 07/01/04 8.45% 47,913 47,913
S Towne East Square 07/01/04 7.00% 57,813 57,813
Subtotal 2004 188,489 188,489 7.38%
D Melbourne Square 02/01/05 7.42% 40,344 40,344
D Treasure Coast Sq 12/01/05 7.42% 54,906 54,906
Subtotal 2005 95,250 95,250 7.42%
Subtotal 2006 0 0
S Cielo Vista Mall 05/01/07 9.25% 56,585 56,585
S Irving Mall 05/01/07 9.25% 43,573 43,573
S McCain Mall 05/01/07 9.25% 26,424 26,424
S Valle Vista Mall 05/01/07 9.25% 34,996 34,996
D University Park Mall 09/01/07 7.43% 51,399 30,839
Subtotal 2007 212,977 192,417 8.81%
Subtotal 2008-2011 0 0
D Randall Park 01/01/12 9.25% 34,837 34,837
S Windsor Park Mall 05/01/12 8.00% 9,005 9,005
Subtotal 2012 43,842 43,842 8.99%
S O'Hare International 12/31/13 7.50% 27,500 27,500
Subtotal 2013 27,500 27,500 7.50%
Subtotal 2014 0 0
D Terrace @ Florida Mall 05/15/15 8.44% 4,687 4,687
D Chesapeake Center 05/15/15 8.44% 6,563 6,563
D Grove @ Lakeland Sq 05/15/15 8.44% 3,750 3,750
Subtotal 2015 15,000 15,000 8.44%
Subtotal 2016-2025 0 0
S Sunland Park Mall 01/01/26 8.63% 40,325 40,325
Subtotal 2026 40,325 40,325 8.63%
Total Consolidated Fixed 2,544,558 2,460,646 7.80%
Rate Debt
Variable Rate Debt:
S Lincolnwood Town Ctr 12/27/96 6.06% 63,079 63,079
Subtotal 1996 63,079 63,079 6.06%
S Eastland Mall 11/01/97 6.65% 30,000 30,000
S St. Charles Towne Ctr 12/31/97 6.37% 77,200 77,200
Subtotal 1997 107,200 107,200 6.45%
S East Towne Mall 09/29/98 6.56% 55,000 55,000
S Eastgate Consumer 12/31/98 6.50% 25,429 25,429
S Riverway 12/31/98 6.38% 85,571 85,571
S Riverway 12/31/98 6.38% 45,879 45,879
Subtotal 1998 211,879 211,879 6.44%
S Cottonwood Mall (2) 02/01/99 7.48% 38,398 38,398
Subtotal 1999 38,398 38,398 7.48%
S Jefferson Valley Mall 01/12/00 6.05% 50,000 50,000
S The Forum Shops 02/23/00 6.47% 100,000 59,525
S Trolley Square 07/23/00 6.94% 4,641 4,177
S Trolley Square 07/23/00 6.94% 3,500 3,150
Subtotal 2000 158,141 116,852 6.36%
D Crystal River 01/01/01 5.75% 16,000 16,000
D Securitized Debt Fin 03/01 5.31% 87,200 87,200
Subtotal 2001 103,200 103,200 5.38%
D Mall of the Mainland 03/02 5.75% 40,706 26,459
D Highland Lakes Plaza 03/01/02 5.75% 14,377 14,377
D Mainland Crossing 03/02/02 5.75% 2,226 1,781
D Mainland Peripheral 03/02/02 5.75% 1,290 1,032
Subtotal 2002 58,599 43,649 5.75%
Total Consolidated 740,496 684,257 6.24%
Variable Rate Debt
Total Consolidated 3,285,054 3,144,903 7.45%
Properties
Joint Venture
Properties:
Fixed Rate Debt:
S The Source 12/21/96 N/A 5,000 2,500
Subtotal 1996 5,000 2,500
D Aventura Mall 05/01/97 7.00% 2,500 833
D Century III Mall 12/01/97 7.00% 806 403
Subtotal 1997 3,306 1,236 7.00%
Subtotal 1998-1999 0 0
D Northfield Square 04/01/00 9.52% 24,710 7,808
S North East Mall 09/01/00 10.00% 22,554 11,277
D Coral Square 12/01/00 7.40% 53,300 26,650
Subtotal 2000 100,564 45,735 8.50%
Subtotal 2001 0 0
D Palm Beach Mall 12/01/02 8.21% 52,564 26,282
Subtotal 2002 52,564 26,282 8.21%
D The Avenues 03/01/03 8.36% 59,352 14,838
D Century III Mall 06/03 6.78% 60,000 30,000
D Lakeland Square 12/15/03 7.26% 53,300 26,650
Subtotal 2003 172,652 71,488 7.47%
Subtotal 2004 0 0
S Cobblestone Court 11/30/05 7.22% 6,180 2,163
S Crystal Court 11/30/05 7.22% 3,570 1,249
S Fairfax Court 11/30/05 7.22% 10,320 2,709
S Gaitway Plaza 11/30/05 7.22% 7,350 1,715
S Ridgewood Court 11/30/05 7.22% 7,980 2,793
S Royal Eagle Plaza 11/30/05 7.22% 7,920 2,772
S The Plaza at Buckland 11/30/05 7.22% 17,680 4,641
S The Yards Plaza 11/30/05 7.22% 8,270 2,895
S Village Park Plaza 11/30/05 7.22% 8,960 3,136
S West Town Corners 11/30/05 7.22% 10,330 2,411
S Westland Park Plaza 11/30/05 7.22% 4,950 1,155
S Willow Knolls Court 11/30/05 7.22% 6,490 2,272
S Seminole Towne Center 12/27/05 6.88% 70,500 31,724
Subtotal 2005 170,500 61,635 7.08%
D Great Northeast Plaza 03/30/06 9.04% 18,000 9,000
S Smith Haven Mall 06/17/06 7.86% 115,000 28,750
Subtotal 2006 133,000 37,750 8.02%
Subtotal 2007-2016 0 0
Total Joint Venture Fixed 637,586 246,626 7.64%
Rate Debt
Variable Rate Debt:
D Aventura Mall 10/96 8.25% 1,284 428
D Indian River Mall 11/96 8.25% 225 113
Subtotal 1996 1,509 541 8.25%
D Aventura Mall 01/01/97 9.50% 7,300 2,433
Subtotal 1997 7,300 2,433 9.50%
D Aventura Mall 08/01/98 6.34% 97,500 32,500
D Aventura Mall 08/01/98 6.34% 2,500 833
D Florida Mall 12/01/98 5.68% 75,000 37,500
Subtotal 1998 175,000 70,833 6.06%
S Stratosphere (3) 03/13/99 7.50% 12,542 6,271
S Ontario Mills (3) 05/07/99 8.25% 13,934 3,484
S Lakeline Mall 05/16/99 5.88% 65,897 32,949
S Circle Centre (3) 08/29/99 7.22% 52,151 7,666
Subtotal 1999 144,524 50,370 6.73%
Total Joint Venture 328,333 124,177 6.44%
Variable Rate Debt
Total Joint Venture 965,919 370,803 7.23%
Properties
Total Mortgage Debt 4,250,973 3,515,706 7.40%
Corporate Credit Facilities:
S SPG, LP 08/07/98 6.77% 311,000 311,000
D DeBartolo Realty LP 12/01/98 7.19% 62,000 62,000
Subtotal 1998 373,000 373,000 6.84%
Corporate Credit 373,000 373,000 6.84%
Facilities
(1) Secured by 17 DeBartolo centers.
(2) Option exists to extend maturity one year.
(3) Two one-year options exist to extend maturity.
(4) The SPG/DRC column denotes a Simon center (S) or DeBartolo center (D).
</TABLE>
<TABLE>
Summary
Principal SPG and DRC's
Balance Combined Share Weighted Average
6/30/96 of Loan Balance Interest Rate
<S> <C> <C> <C>
Consolidated Fixed Rate Debt 2,544,558 2,460,646 7.80%
Consolidated Variable Rate Debt 740,496 684,257 6.24%
Corporate Credit Facilities 373,000 373,000 6.84%
1,113,496 1,057,257 6.44%
Mortgage and Other Notes Payable 3,658,054 3,517,903 7.39%
Joint Venture Fixed Rate Debt 637,586 246,626 7.64%
Joint Venture Variable Rate Debt 328,333 124,177 6.44%
Mortgage and Other Notes Payable
Partnerships and Joint Ventures 965,919 370,803 7.23%
</TABLE>
<PAGE> 38-39
<TABLE>
SIMON DeBARTOLO GROUP
(SPG & DRC COMBINED)
Pro Forma Summary of Variable Rate
Debt and Interest Rate Protection Agreements
As of June 30, 1996
(In thousands)
SPG & Terms of
SPG & DRC's Interest
SPG/ Principal DRC's Share of Interest Terms of Rate
DRC Property Maturity Balance Combined Loan Rate Variable Protection
(1) Name Date 6/30/96 Ownership Balance 6/30/96 Rate Agreement
<S> <C> <C> <C> <C> <C> <S> <C> <S> <C>
Consolidated Properties
Variable Rate Debt:
S Lincolnwood Town Ctr 12/27/96 63,079 100.0% 63,079 6.06% LIBOR + 1.25% LIBOR swapped at
4.81% through
maturity
S Eastland Mall 11/01/97 30,000 100.0% 30,000 6.65% LIBOR + 1.50% LIBOR swapped at
5.15% through
maturity; lender
has right to
cancel swap
effective 1/1/97
S St. Charles Towne Ctr 12/31/97 77,200 100.0% 77,200 6.37% LIBOR + 1.25% $62,238 of loan
balance is LIBOR
swapped at 5.12%
through maturity;
lender has right
to cancel swap
effective 1/3/97
S East Towne Mall 09/29/98 55,000 100.0% 55,000 6.56% LIBOR + 1.125%
S Eastgate Consumer
12/31/98 25,429 100.0% 25,429 6.50% LIBOR + 1.50% LIBOR capped at
5.0% through
maturity
S Riverway 12/31/98 85,571 100.0% 85,571 6.38% LIBOR + 1.375% LIBOR capped at
5.0% through
maturity
S Riverway 12/31/98 45,879 100.0% 45,879 6.38% LIBOR + 1.375% LIBOR capped at
5.0% through
maturity
S Cottonwood Mall 02/01/99 (2) 38,398 100.0% 38,398 7.48% LIBOR + 2.00% (3)
S Jefferson Valley Mall 01/12/00 50,000 100.0% 50,000 6.05% LIBOR + .55% LIBOR capped at
8.7% through
maturity
S The Forum Shops 02/23/00 100,000 59.5% 59,525 6.47% LIBOR + 1.0% See Footnote #4
S Trolley Square 07/23/00 4,641 90.0% 4,177 6.94% LIBOR + 1.50%
S Trolley Square 07/23/00 3,500 90.0% 3,150 6.94% LIBOR + 1.50%
D Crystal River 01/01/01 16,000 100.0% 16,000 5.75% LIBOR + 1.0% (5) See Footnote 6
D Securitized Debt Fin
03/01 87,200 100.0% 87,200 5.31% LIBOR + .56% See Footnote 6
D Mall of the Mainland
03/02 40,706 65.0% 26,459 5.75% LIBOR + 1.0% (5) See Footnote 6
D Highland Lakes Plaza
03/01/02 14,377 100.0% 14,377 5.75% LIBOR + 1.0% (5) See Footnote 6
D Mainland Crossing
03/02/02 2,226 80.0% 1,781 5.75% LIBOR + 1.0% (5) See Footnote 6
D Mainland Peripheral
03/02/02 1,290 80.0% 1,032 5.75% LIBOR + 1.0% (5) See Footnote 6
Total Consolidated Properties 740,496 684,257
Corporate Credit Facilities:
S SPG, L.P. 08/07/98 311,000 311,000 6.77% LIBOR + 1.325% On March 13, 1995,
the Operating
Partnership
entered into a two-
year cap agreement
in the amount of
$100 million. The
Operating
Partnership may
elect to use this
cap on any wholly
owned variable-
interest-rate
debt. The LIBOR
cap may fluctuate
through March 13,
1997. LIBOR is
initially capped
at 7.5% through
maturity, however,
if LIBOR should
equal or exceed
8.75% between
monthly reset
dates, then LIBOR
would be capped at
8.5% for that
period only.
D DeBartolo Realty LP 12/01/98 62,000 62,000 7.19% LIBOR + 1.75%
Total Corporate Credit
Facilities 373,000 373,000
Joint Venture Properties:
Variable Rate Debt:
D Aventura Mall 10/96 1,284 33.3% 428 8.25% Prime (3)
D Indian River Mall
11/96 225 50.0% 113 8.25% Prime
D Aventura Mall 01/97 7,300 33.3% 2,433 9.50% Prime + 1.25%
D Aventura Mall 08/01/98 97,500 33.3% 32,500 6.34% Bank of Tokyo See Footnote 6
CD rate + .90%
D Aventura Mall 08/01/98 2,500 33.3% 833 6.34% Bank of Tokyo See Footnote 6
CD rate + .90%
D Florida Mall 12/01/98 75,000 50.0% 37,500 5.68% Commercial See Footnote 6
paper + .75%
S Stratosphere 3/13/99 (7) 12,542 50.0% 6,271 7.50% LIBOR + 2.00% (3)
S Ontario Mills 5/7/99 (7) 13,934 25.0% 3,484 8.25% LIBOR + 2.75% (3)
S Lakeline Mall 5/16/99 65,897 50.0% 32,949 5.88% LIBOR + .375%
S Circle Centre 8/29/99 (7) 52,151 14.7% 7,666 7.22% LIBOR + 1.75%
Total Joint Venture
Properties 328,333 124,177
Total Variable Mortgage
and Other Indebtedness 1,441,829 1,181,434
Footnotes:
(1) The SPG/DRC column denotes a Simon center (S) or DeBartolo (D).
(2) Option exists to extend maturity one year.
(3) Rate can be reduced based upon project performance.
(4) Cap agreement was made on $89,000 of total loan balance; LIBOR capped @ 7% through
12/23/96; however if LIBOR should increase more than 0.6% between monthly reset dates,
the cap will be increased by 0.25%, but shall not exceed 8.25%.
(5) Interest rate is 1% over LIBOR through April 1, 1997, 1.5% over LIBOR for the next
three years and 2% over LIBOR for the remaining two years.
(6) There exists a swap with the following terms: LIBOR fixed at 4.75% on approximately
$218 million of debt through April 1997; LIBOR fixed at 5.71% on $87.2 million of debt
from May 1997 through April 2001. These swaps have a maximum protection on LIBOR of
8.44%. To obtain the swap, the Company "assigned" existing interest rate caps (all
expiring in April 1997) to an unrelated third party. An interest rate cap was also
purchased which limits LIBOR to 8.44% on $87.2 million of debt from May 1996 through
March 2001 in order to provide protection in the event LIBOR exceeds 8.44%.
(7) Two one-year options exist to extend maturity.
(8) The following table details SPG & DRC's combined variable rate debt as follows:
Total SDG Share
Swapped debt 372,999 372,999
Capped debt "in the money" 156,879 156,879
Other hedged variable rate debt 239,000 202,955
Unhedged variable rate debt 672,951 448,601
------- -------
1,441,829 1,181,434
</TABLE>
<PAGE> 40-41
<TABLE>
SIMON DeBARTOLO GROUP
(SPG & DRC COMBINED)
New Development Activities
As of June 30, 1996
SPG & Non-Anchor
DRC's Sq. Footage Projected
Combined Leased/ Anchors/ Actual/ Developmnt
GLA Ownership Committed Major Projected Cost
Mall/Location (sq. ft.) Percentage (1) Tenants Opening (in millions)
<S> <C> <C> <C> <S> <C> <C>
Recently Opened
Cottonwood Mall 1,035,000 100.0% 87% Dillard's 7/31/96 $75
Albuquerque, NM Foley's
(Opened 7/31/96) JCPenney
Mervyn's
Montgomery Ward
United Artist Entertainment
Complex
Under
Construction
Tower Shops at 89,000 50.0% 87% Rainforest Cafe 11/96 $25
Stratosphere (Phase I)
Las Vegas, NV
Ontario Mills 1,400,000 25.0% 81% AMC Theatres 11/96 $168
Ontario, CA Marshalls
(Los Angeles) Totally 4 Kids
Sports Authority
TJMaxx
Burlington
Bed Bath & Beyond
Mikasa
Off 5th-Saks Fifth
Avenue Outlet
JCPenney Outlet
American Wilderness
Experience
Dave & Buster's
Bernini - Off Rodeo
Group USA
IWERKS
Virgin Records
Indian River Mall 754,000 50.0% 84% Burdine's 11/14/96 $57
Vero Beach, FL Dillard's
JCPenney
Sears
AMC Theatres
Indian River 265,000 50.0% 97% HomePlace 2/1/97 $8
Commons Lowe's
Vero Beach, FL Office Max
Service Merchandise
The Source 730,000 50.0% (2) Fortunoff 8/97 $151
Long Island, NY Nordstrom Rack
Off 5th-Saks Fifth
Avenue Outlet
Cheesecake Factory
Rainforest Cafe
Just for Feet
Bertolini's
Arizona Mills 1,225,000 25.0% (2) Oshmans Supersport 11/97 $182
Tempe, Arizona Off 5th-Saks Fifth
Avenue Outlet
(Groundbreaking Burlington Coat
8/1/96) Factory
Ross Dress for Less
Grapevine Mills 1,450,000 37.5% (2) Books-A-Million 11/97 $186
Grapevine, Texas Burlington Coat
Factory
(Dallas/Ft. Worth) Off 5th-Saks Fifth
Avenue Outlet
(Groundbreaking Group USA
7/10/96) Rainforest Cafe
Under Development
Lakeline Plaza 395,000 100.0% (2) Office Max 11/97 $30
Austin, TX Best Buys
Toys "R" Us
Linens `N Things
TJMaxx
Shops at Sunset 500,000 75.0% (2) AMC 24 Theatre 4/98 $130
Place
South Miami, FL
(Construction
start projected
9/96)
Muncie Plaza 200,000 100.0% (2) Kohl's Spring 1998 $18
Muncie, IN United Artists Theatres
(1) As of July 31, 1996.
(2) Leasing still in preliminary stage since project will not open until after 1996.
</TABLE>
<PAGE> 42
SIMON DeBARTOLO GROUP
(SPG & DRC Combined)
Renovation/Expansion Activities
Projects Under Construction
As of June 30, 1996
Projected
Anticipated Cost
Name/Location Completion (in mils) Scope of Construction
University Park Mall 10/96 $15 L.S. Ayres 33,000 sf expansion,
South Bend, IN 33,000 sf Mall GLA addition and
(Renovation & Expansion) renovation, 8,000 sf food court
addition.
Summit Mall 11/96 $17 Dillard's 107,000 sf expansion, Mall
Akron, OH renovation and 8,000 sf food court
(Renovation & Expansion) addition
College Mall 11/96 $4 Renovation of common area including
Bloomington, IN new floor treatment, skylights and
(Renovation & Expansion) entrances, as well as upgrading of
parking lot lighting and signage.
Greenwood Plus 11/96 $4 21,000 square foot expansion of
Greenwood, IN Kohl's and 9,000 square foot
(Expansion) expansion of Best Buy.
Lafayette Square 11/96 $14 Mall renovation, 11,000 sf L.S. Ayres
Indianapolis, IN expansion 53,000 sf Waccamaw and
(Expansion) 6,000 sf food court additions.
Florida Mall 11/96 $27 Addition of 100,000 sf Saks Fifth
Orlando, FL Avenue
(Expansion)
Chautauqua Mall 3/97 $16 J.C. Penney 55,000 sf addition, Mall
Jamestown, NY renovation, addition of 4,000 sf
(Renovation/Expansion) food court
Tippecanoe Plaza 5/97 $4 Relocation/expansion of Service
Lafayette, IN Merchandise. Reconfiguration of old
(Renovation) Service Merchandise for new Barnes &
Noble.
The Forum Shops 9/97 $90 Addition of 250,000 square feet, 92%
at Caesars leased and committed. Tenants include:
Las Vegas, NV Virgin Records,FAO Schwarz, Cheesecake
(Expansion) Factory and NikeTown.
Muncie Mall 9/97 $21 Renovation of common area including
Muncie, IN new floor treatment and skylights.
(Renovation & Expansion) Addition of 120,000 square foot L.S.
Ayres store with a projected
opening of 11/96.Additional 41,000
square feet of small shops leading to
new Ayres projected to open spring
1997. Existing Ayres store to be
converted into food court, restaurants
and retail with a scheduled opening of
9/97.
Aventura Mall 12/97 $91 Addition of 252,000 sf Bloomingdale's,
Miami, FL 255,000 sf of small shops, 27 screen
(Expansion) AMC Theatre, new parking deck, Sears
22,000 sf expansion, Lord and Taylor
40,000 sf expansion and J.C. Penney
60,000 sf expansion
<PAGE> 43
SIMON DeBARTOLO GROUP
(SPG & DRC COMBINED)
Pro Forma Capital Expenditures
As of June 30, 1996
(In millions)
Consolidated Properties: SPG DRC Combined
Acquisitions $43.9 $5.4 $49.3
New Developments 32.1 6.0 (1) 38.1
Renovations and Expansions 23.4 (2) 25.1 (3) 48.5
Tenant Allowances-Retail 11.2 3.7 14.9
Tenant Allowances-Office 4.3 (4) - 4.3
Recovered from Tenants 1.0 - 1.0
Other 1.5 (5) 3.5 (6) 5.0
Totals $117.4 $43.7 $161.1
<TABLE>
SPG DRC Combined
--------------------- ------------------ -------------------
SPG's DRC's SPG/DRC's
Joint Venture Properties: Total Share Total Share Total Share
------ ----- ----- ----- ------ ------
<S> <C> <C> <C> <C> <C> <C>
New Developments $126.7 $46.2 $10.9 $5.5 $137.6 $51.7
Renovations and Expansions 0.3 - 19.0 (7) 9.1 19.3 9.1
Tenant Allowances-Retail 0.7 0.3 0.3 0.1 1.0 0.4
Recovered from Tenants 0.2 - - - 0.2 -
Other 0.6 0.1 0.1 0.1 0.7 0.2
------ ----- ----- ----- ------ ------
Totals $128.5 $46.6 $30.3 $14.8 $158.8 $61.4
(1)Costs incurred on Indian River Mall and Commons.
(2)Costs incurred primarily at The Forum Shops at Caesars, Tippecanoe Plaza,
Muncie Mall and Greenwood Plus.
(3)Costs incurred primarily at Chautauqua Mall, Lafayette Square, Summit Mall
and University Park Mall.
(4)Includes $3.3 million in tenant improvements to be paid over a 7-year
period: $500,000/year from 1996 to 2000 and $400,000 to be paid in 2001
and 2002.
(5)Primarily represents expenditures not recovered from tenants.
(6)Primarily represents capital expenditures relating to MIS enhancements and
expenditures not recovered from tenants.
(7)Costs incurred primarily at Aventura Mall and Florida Mall.
<PAGE> 44
SIMON DeBARTOLO GROUP
(SPG & DRC COMBINED)
Pro Forma Gains on Sales of Peripheral Land
As of June 30, 1996
(In millions)
Six Months Ended
June 30,
1996 1995
Simon Property Group
Consolidated Properties $1.0 $1.2
SPG's Share of Joint Venture Properties 1.6 0.8
Totals $2.6 $2.0
DeBartolo Realty Corporation
Consolidated Properties $0.7 $-
DRC's Share of Joint Venture Properties 0.8 -
Totals $1.5 $0
SPG & DRC Combined
Consolidated Properties $1.7 $1.2
SPG & DRC's Share of Joint Venture Props 2.4 0.8
Totals $4.1 $2.0
<PAGE>
</TABLE>
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