{"url_path":"/sec/cik-0001022344/10-k/2026/item-1c","section_key":"item-1c","section_title":"Item 1C Cybersecurity**","topic":"sec","document":{"doc_type":"10-K","doc_date":"2026-02-25","source_url":"https://www.sec.gov/Archives/edgar/data/1022344/0001104659-26-019419-index.html","accession_number":"0001104659-26-019419","cik":"0001022344","ticker":null,"issuer_name":"SIMON PROPERTY GROUP L P","edgar_url":"https://www.sec.gov/Archives/edgar/data/1022344/0001104659-26-019419-index.html","primary_entity_key":"0001022344","primary_entity_name":"SIMON PROPERTY GROUP L P"},"word_count":18062,"has_tables":true,"body_markdown":"**Item 1C.  Cybersecurity**\n\n**Cybersecurity Risk Management and Strategy**\n\nWe have developed and implemented a cybersecurity risk management program intended to protect the confidentiality, integrity, and availability of our critical systems and information. We execute a risk-based approach to identify and assess the cybersecurity threats that could affect our business and information systems. Our cybersecurity risk management program includes a cybersecurity incident response plan and dedicated cybersecurity incident response team (“CSIRT”).  We do not have actual or contractual access to the systems or information maintained by our tenants, who maintain their own cybersecurity risk management programs to protect their operations from various risks from cybersecurity threats.\n\nWe use the National Institute of Standards and Technology Cybersecurity Framework and CIS Critical Security Controls as a guide to help us identify, assess, and manage cybersecurity risks relevant to our business. This does not imply that we meet any particular technical standards, specifications, or requirements.\n\nOur cybersecurity risk management program is integrated with our overall enterprise risk management program, and shares common methodologies, reporting channels and governance processes that apply across the enterprise risk management program to other legal, compliance, strategic, operational, public relations and financial risk areas.\n\nOur cybersecurity risk management program includes the following key elements:\n\n●risk assessments designed to help identify material cybersecurity risks to our critical systems, information, services, and our broader enterprise information technology (IT) environment;\n\n●a team comprised of IT security, infrastructure, and compliance personnel principally responsible for directing (1) our cybersecurity risk assessment processes, (2) our security processes, and (3) our response to cybersecurity incidents, supported by legal, human resources, corporate security and other internal resources;\n\n●the use of external cybersecurity service providers, where appropriate, to assess, test or otherwise assist with aspects of our security processes, which enable us to leverage specialized knowledge and insights, with the goal of ensuring our cybersecurity strategies and processes remain at the forefront of industry best practices;\n\n●cybersecurity awareness training of employees with access to our IT systems;\n\n●a cybersecurity incident response plan and Security Operations Center (“SOC”) to respond to cybersecurity incidents; and\n\n●a third-party risk management process for service providers.\n\nWe have not identified risks from known cybersecurity threats, including as a result of any prior cybersecurity incidents, that have materially affected us, including our operations, business strategy, results of operations, or financial condition. We face certain ongoing risks from cybersecurity threats that, if realized, are reasonably likely to materially affect us, including our operations, business strategy, results of operations, or financial condition. See further discussion in Item 1A. Risk Factors.\n\n**Cybersecurity Governance**\n\nOur Board of Directors considers cybersecurity risk as critical to the enterprise and delegates the cybersecurity risk oversight function to the Audit Committee. The Audit Committee oversees and is regularly updated on management’s design, implementation and enforcement of our cybersecurity risk management program. The Audit Committee is composed of board members with varied expertise including, risk management, technology, and finance, equipping them to oversee cybersecurity risks.\n\nOur Chief Financial Officer periodically provides reports to the Audit Committee, and, together with our Chief Technology Officer and Director of Cybersecurity, leads the Company’s overall cybersecurity function. The Audit Committee receives regular reports on our cybersecurity risks, including briefings on our cyber risk management program and cybersecurity incidents. Audit Committee members also receive periodic presentations on cybersecurity, IT and data protection topics.\n\nOur Chief Financial Officer oversees our CSIRT, whose members have years of experience working in cybersecurity and certifications including CISSP (Certified Information Systems Security Professional), CCSP (Certified Cloud Security Professional), CGRC (Certification in Governance of Enterprise IT), GIAC (Global Information Assurance Certification) and GCED (GIAC Certified Enterprise Defender). Our CSIRT supervises efforts to prevent, detect, mitigate, and remediate cybersecurity risks and incidents through various means, which include briefings from internal security personnel; threat\n\n27\n\n[Table of Contents](#Toc)\n\nintelligence and other information obtained from governmental, public or private sources, including external cybersecurity service providers; and alerts and reports produced by security tools deployed in the IT environment.\n\nThe CSIRT is responsible for assessing and managing our material risks from cybersecurity threats.  They have primary responsibility for leading our overall cybersecurity risk management program and supervise both our internal cybersecurity personnel and our external cybersecurity service providers.\n\n28\n\n[Table of Contents](#Toc)\n\n**Item ****2. Properties**\n\nUnited States Properties\n\nOur U.S. properties primarily consist of malls, Premium Outlets, The Mills, lifestyle centers and other retail properties. These properties contain an aggregate of approximately 188.4 million square feet of gross leasable area, or GLA.\n\nMalls typically contain at least one department store anchor or a combination of anchors and big box retailers with a wide variety of smaller stores connecting the anchors. Additional stores are usually located along the perimeter of the parking area. Our 108 malls generally range in size from approximately 130,000 to 2.7 million square feet of GLA.\n\nPremium Outlets generally contain a wide variety of designer and manufacturer stores. Our 70 Premium Outlets range in size from approximately 150,000 to 920,000 square feet of GLA. The Premium Outlets are generally located within a close proximity to major metropolitan areas and/or tourist destinations.\n\nThe 16 properties in The Mills generally range in size from 1.2 million to 2.4 million square feet of GLA and are located in major metropolitan areas. They have a combination of traditional mall, outlet center, big box retailers and entertainment uses.\n\nWe also have interests in six lifestyle centers and 12 other retail properties. The lifestyle centers range in size from 170,000 to 940,000 square feet of GLA. The other retail properties range in size from approximately 190,000 to 1.2 million square feet of GLA and are considered non-core to our business model.\n\nAs of December 31, 2025, approximately 96.4% of the owned GLA in malls and Premium Outlets was leased and approximately 99.2% of the owned GLA for The Mills was leased.\n\nWe wholly own 142 of our properties, effectively control 14 properties in which we have a joint venture interest, and hold the remaining 56 properties through unconsolidated joint venture interests. We are the managing or co-managing general partner or member of 203 properties in the United States. Certain of our joint venture properties are subject to various rights of first refusal, buy-sell provisions, put and call rights, or other sale or marketing rights for partners which are customary in real estate partnership agreements and the industry. We and our partners in these joint ventures may initiate these provisions (subject to any applicable lock up or similar restrictions) which may result in either the sale of our interest or the use of available cash or borrowings, or the use of Operating Partnership units, to acquire the joint venture interest from our partner.\n\n​\n\n​\n\n​\n\n29\n\n[Table of Contents](#Toc)\n\n**Simon Property Group, Inc.**\n\n**Simon Property Group, L.P.**\n\n**Property Table**\n\n**U.S. Properties**\n\nThe following property table summarizes certain data for our malls, Premium Outlets, The Mills, lifestyle centers and other retail properties located in the United States, including Puerto Rico, as of December 31, 2025.\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**Ownership Interest**\n\n​\n\n​\n\n​\n\n**Year Built**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**(Expiration if**\n\n​\n\n**Legal**\n\n​\n\n**or**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**Property Name**\n\n**  ​**\n\n**State**\n\n**  ​**\n\n**City (CBSA)**\n\n**  ​**\n\n**Lease) (3)**\n\n**  ​**\n\n**Ownership**\n\n**  ​**\n\n**Acquired**\n\n**  ​**\n\n**Occupancy (5)**\n\n**  ​**\n\n**Total GLA**\n\n**  ​**\n\n**Selected Larger Retailers and Uses**\n\n​\n\n**Malls**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n1.\n\nApple Blossom Mall\n\n \n\nVA\n\n \n\nWinchester\n\n \n\nFee\n\n \n\n49.1\n\n% (4)\n\nAcquired 1999\n\n \n\n87.5\n\n% \n\n470,086\n\n \n\nBelk, JCPenney, AMC Cinemas\n\n2.\n\nAuburn Mall\n\n \n\nMA\n\n \n\nAuburn\n\n \n\nFee\n\n \n\n56.4\n\n% (4)\n\nAcquired 1999\n\n \n\n94.9\n\n% \n\n498,385\n\n \n\nMacy's, Reliant Medical (14)\n\n3.\n\nAventura Mall (1)\n\n \n\nFL\n\n \n\nMiami Beach (Miami)\n\n \n\nFee\n\n \n\n33.3\n\n% (4)\n\nBuilt 1983\n\n \n\n97.5\n\n% \n\n2,372,034\n\n \n\nBloomingdale's, Macy's (8), JCPenney, Nordstrom, Equinox Fitness Clubs, AMC Theatres, Eataly\n\n4.\n\nBarton Creek Square\n\n \n\nTX\n\n \n\nAustin\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nBuilt 1981\n\n \n\n98.9\n\n% \n\n1,447,740\n\n \n\nNordstrom, Macy's, Dillard's (8), JCPenney, AMC Theatres\n\n5.\n\nBattlefield Mall\n\n \n\nMO\n\n \n\nSpringfield\n\n \n\nFee and Ground Lease (2056)\n\n \n\n100.0\n\n%\n\nBuilt 1970\n\n \n\n97.8\n\n% \n\n1,180,247\n\n \n\nMacy's, Dillard's, JCPenney, Dick's House of Sport (6)\n\n6.\n\nBay Park Square\n\n \n\nWI\n\n \n\nGreen Bay\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nBuilt 1980\n\n \n\n93.1\n\n% \n\n690,122\n\n \n\nKohl's, Marcus Cinema 16, Dave & Buster's, Steinhafel Furniture, Hy-Vee\n\n7.\n\nBeverly Center\n\n \n\nCA\n\n \n\nLos Angeles\n\n \n\nFee and Ground Lease (2057)\n\n \n\n100.0\n\n%\n\nAcquired 2020\n\n \n\n93.8\n\n% \n\n842,212\n\n \n\nBloomingdale's, Macy's, Lucky Strike\n\n8.\n\nBrea Mall\n\n \n\nCA\n\n \n\nBrea (Los Angeles)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 1998\n\n \n\n99.0\n\n% \n\n1,360,764\n\n \n\nNordstrom, Macy's (8), JCPenney, Life Time (6), Dick's Sporting Goods (6)\n\n9.\n\nBriarwood Mall\n\n \n\nMI\n\n \n\nAnn Arbor\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2007\n\n \n\n93.1\n\n% \n\n924,116\n\n \n\nMacy's, JCPenney, Von Maur, Harvest Market (6), Dick's Sporting Goods (6), Hilton Garden Inn (14), Towne Place Suites by Marriott (14)\n\n10.\n\nBrickell City Centre\n\n \n\nFL\n\n \n\nMiami\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nBuilt 2016\n\n \n\n98.6\n\n% \n\n471,577\n\n \n\nSaks Fifth Avenue, Cinemex, EAST Miami Hotel (14)\n\n11.\n\nBroadway Square\n\n \n\nTX\n\n \n\nTyler\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 1994\n\n \n\n99.1\n\n% \n\n613,437\n\n \n\nDillard's, JCPenney, Dick's Sporting Goods, HomeGoods\n\n12.\n\nBurlington Mall\n\n \n\nMA\n\n \n\nBurlington (Boston)\n\n \n\nFee and Ground Lease (2026) (7)\n\n \n\n100.0\n\n%\n\nAcquired 1998\n\n \n\n97.2\n\n% \n\n1,258,214\n\n \n\nMacy's, Nordstrom, Crate & Barrel, Primark, Arhaus Furniture\n\n13.\n\nCape Cod Mall\n\n \n\nMA\n\n \n\nHyannis\n\n \n\nFee and Ground Leases (2029-2073) (7)\n\n \n\n56.4\n\n% (4)\n\nAcquired 1999\n\n \n\n92.5\n\n% \n\n705,966\n\n \n\nMacy's (8), Best Buy, Marshalls, Barnes & Noble, Target, Dick's Sporting Goods, Planet Fitness, That's Entertainment (6)\n\n14.\n\nCastleton Square\n\n \n\nIN\n\n \n\nIndianapolis\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nBuilt 1972\n\n \n\n99.0\n\n% \n\n1,361,038\n\n \n\nMacy's, Von Maur, JCPenney, Dick's Sporting Goods, AMC Theatres, Hobby Lobby\n\n15.\n\nCherry Creek Shopping Center\n\n \n\nCO\n\n \n\nDenver\n\n \n\nFee and Ground Lease (2083)\n\n \n\n50.0\n\n%\n\nAcquired 2020\n\n \n\n98.3\n\n% \n\n1,068,124\n\n \n\nMacy's (8), Neiman Marcus, Nordstrom\n\n16.\n\nCielo Vista Mall\n\n \n\nTX\n\n \n\nEl Paso\n\n \n\nFee and Ground Lease (2030) (7)\n\n \n\n100.0\n\n%\n\nBuilt 1974\n\n \n\n99.6\n\n% \n\n1,245,387\n\n \n\nMacy's, Dillard's (8), JCPenney, Cinemark Theatres, Primark\n\n17.\n\nCity Creek Center\n\n \n\nUT\n\n \n\nSalt Lake City\n\n \n\nFee and Ground Lease (2042)\n\n \n\n100.0\n\n%\n\nAcquired 2020\n\n \n\n90.4\n\n% \n\n686,004\n\n \n\nMacy's, Nordstrom\n\n18.\n\nCoconut Point\n\n \n\nFL\n\n \n\nEstero\n\n \n\nFee\n\n \n\n50.0\n\n% (4)\n\nBuilt 2006\n\n \n\n91.7\n\n% \n\n1,114,340\n\n \n\nDillard's, Barnes & Noble, Best Buy, DSW, Office Max, PetSmart, Ross, T.J. Maxx, Super Target, Michael's, Total Wine & More, Home Centric, PGA TOUR Superstore, Nordstrom Rack, Hyatt Place Coconut Point (14), TownePlace Suites by Marriott (14)\n\n19.\n\nCollege Mall\n\n \n\nIN\n\n \n\nBloomington\n\n \n\nFee and Ground Lease (2050) (7)\n\n \n\n100.0\n\n%\n\nBuilt 1965\n\n \n\n94.9\n\n% \n\n577,529\n\n \n\nTarget, Dick's Sporting Goods, Fresh Thyme, Dave & Buster's\n\n20.\n\nColumbia Center\n\n \n\nWA\n\n \n\nKennewick\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 1987\n\n \n\n99.0\n\n% \n\n733,924\n\n \n\nMacy's (8), JCPenney, Barnes & Noble, DSW, Home Goods, Dick's Sporting Goods\n\n21.\n\nCopley Place\n\n \n\nMA\n\n \n\nBoston\n\n \n\nFee\n\n \n\n94.4\n\n% (10)\n\nAcquired 2002\n\n \n\n92.7\n\n% \n\n1,252,052\n\n \n\nNeiman Marcus (12), Saks Fifth Avenue Men's, Boston Marriott Copley Place (14), The Westin Copley Place (14)\n\n22.\n\nCoral Square\n\n \n\nFL\n\n \n\nCoral Springs (Miami)\n\n \n\nFee\n\n \n\n97.2\n\n%\n\nBuilt 1984\n\n \n\n94.1\n\n% \n\n947,951\n\n \n\nMacy's (8), JCPenney, Kohl's\n\n23.\n\nCordova Mall\n\n \n\nFL\n\n \n\nPensacola\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 1998\n\n \n\n98.4\n\n% \n\n932,520\n\n \n\nDillard's, Belk, Best Buy, Cost Plus World Market, Ross, Dick's Sporting Goods\n\n24.\n\nDadeland Mall\n\n \n\nFL\n\n \n\nMiami\n\n \n\nFee\n\n \n\n50.0\n\n% (4)\n\nAcquired 1997\n\n \n\n98.7\n\n% \n\n1,510,747\n\n \n\nSaks Fifth Avenue, Macy's (8), JCPenney, Dick's House of Sport, AC Hotel by Marriott\n\n25.\n\nDel Amo Fashion Center\n\n \n\nCA\n\n \n\nTorrance (Los Angeles)\n\n \n\nFee\n\n \n\n50.0\n\n% (4)\n\nAcquired 2007\n\n \n\n94.5\n\n% \n\n2,503,055\n\n \n\nNordstrom, Macy's (8), JCPenney, Marshalls, Barnes & Noble, AMC Theatres, Dick's Sporting Goods, Dave & Buster's, Mitsuwa Marketplace\n\n26.\n\nDomain, The\n\n \n\nTX\n\n \n\nAustin\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nBuilt 2006\n\n \n\n98.8\n\n% \n\n1,228,827\n\n \n\nNeiman Marcus, Macy's, Dillard's, Dick's Sporting Goods, iPic Theaters, Arhaus Furniture, Punch Bowl Social, Westin Austin at The Domain, Lone Star Court (14), (15)\n\n27.\n\nEmpire Mall\n\n \n\nSD\n\n \n\nSioux Falls\n\n \n\nFee and Ground Lease (2033) (7)\n\n \n\n100.0\n\n%\n\nAcquired 1998\n\n \n\n97.9\n\n% \n\n1,163,658\n\n \n\nMacy's, JCPenney, Hy-Vee, Dick's Sporting Goods, Crunch Fitness, Dillard's, Dick's House of Sport (6)\n\n28.\n\nFalls, The\n\n \n\nFL\n\n \n\nMiami\n\n \n\nFee\n\n \n\n50.0\n\n% (4)\n\nAcquired 2007\n\n \n\n97.8\n\n% \n\n709,919\n\n \n\nMacy's, Regal Bistro, The Fresh Market, LifeTime Athletic\n\n30\n\n[Table of Contents](#Toc)\n\n**Simon Property Group, Inc.**\n\n**Simon Property Group, L.P.**\n\n**Property Table**\n\n**U.S. Properties**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**Ownership Interest**\n\n​\n\n​\n\n​\n\n**Year Built**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**(Expiration if**\n\n​\n\n**Legal**\n\n​\n\n**or**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**Property Name**\n\n**  ​**\n\n**State**\n\n**  ​**\n\n**City (CBSA)**\n\n**  ​**\n\n**Lease) (3)**\n\n**  ​**\n\n**Ownership**\n\n**  ​**\n\n**Acquired**\n\n**  ​**\n\n**Occupancy (5)**\n\n**  ​**\n\n**Total GLA**\n\n**  ​**\n\n**Selected Larger Retailers and Uses**\n\n29.\n\nFashion Centre at Pentagon City, The\n\n \n\nVA\n\n \n\nArlington (Washington, DC)\n\n \n\nFee\n\n \n\n42.5\n\n% (4)\n\nBuilt 1989\n\n \n\n99.6\n\n% \n\n927,462\n\n \n\nNordstrom, Macy's, The Ritz-Carlton (14)\n\n30.\n\nFashion Mall at Keystone, The\n\n \n\nIN\n\n \n\nIndianapolis\n\n \n\nFee and Ground Lease (2067) (7)\n\n \n\n100.0\n\n%\n\nAcquired 1997\n\n \n\n99.4\n\n% \n\n702,940\n\n \n\nNordstrom, Crate & Barrel, Keystone Art Cinema, Sheraton (14)\n\n31.\n\nFashion Valley\n\n \n\nCA\n\n \n\nSan Diego\n\n \n\nFee\n\n \n\n50.0\n\n% (4)\n\nAcquired 2001\n\n \n\n99.2\n\n% \n\n1,684,713\n\n \n\nNeiman Marcus, Bloomingdale's, Nordstrom, Macy's, JCPenney, AMC Theatres, The Container Store\n\n32.\n\nFirewheel Town Center\n\n \n\nTX\n\n \n\nGarland (Dallas)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nBuilt 2005\n\n \n\n95.4\n\n% \n\n989,552\n\n \n\nDillard's, Macy's, Barnes & Noble, DSW, AMC Theatres, Dick's Sporting Goods, Kids Empire/Hapik, (15)\n\n33.\n\nFlorida Mall, The\n\n \n\nFL\n\n \n\nOrlando\n\n \n\nFee\n\n \n\n50.0\n\n% (4)\n\nBuilt 1986\n\n \n\n98.8\n\n% \n\n1,725,304\n\n \n\nMacy's, Dillard's, JCPenney, H&M, Zara, American Girl, Dick's Sporting Goods, Crayola Experience, Primark, The Florida Hotel and Conference Center (14)\n\n34.\n\nForum Shops at Caesars Palace, The\n\n \n\nNV\n\n \n\nLas Vegas\n\n \n\nGround Lease (2050)\n\n \n\n100.0\n\n%\n\nBuilt 1992\n\n \n\n95.5\n\n% \n\n672,798\n\n \n\nCaesars Palace Las Vegas Hotel and Casino (14), Louis Vuitton, Gucci, Nike Town\n\n35.\n\nGalleria, The\n\n \n\nTX\n\n \n\nHouston\n\n \n\nFee\n\n \n\n50.4\n\n% (4)\n\nAcquired 2002\n\n \n\n97.1\n\n% \n\n1,975,486\n\n \n\nSaks Fifth Avenue, Neiman Marcus, Nordstrom, Macy's, The Westin Galleria (14), The Westin Oaks (14), Life Time Tennis\n\n36.\n\nGardens Mall, The (1)\n\n \n\nFL\n\n \n\nPalm Beach Gardens\n\n \n\nFee\n\n \n\n50.0\n\n% (4)\n\nAcquired 2020\n\n \n\n94.3\n\n% \n\n1,403,614\n\n \n\nBloomingdale's, Macy's, Nordstrom, Saks Fifth Avenue\n\n37.\n\nGardens on El Paseo, The\n\n \n\nCA\n\n \n\nPalm Desert\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2020\n\n \n\n93.8\n\n% \n\n235,131\n\n \n\nSaks Fifth Avenue\n\n38.\n\nGreenwood Park Mall\n\n \n\nIN\n\n \n\nGreenwood (Indianapolis)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 1979\n\n \n\n98.0\n\n% \n\n1,285,095\n\n \n\nMacy's, Von Maur, JCPenney, Dick's Sporting Goods, Barnes & Noble, Regal Cinema, Dave & Buster's\n\n39.\n\nHaywood Mall\n\n \n\nSC\n\n \n\nGreenville\n\n \n\nFee and Ground Lease (2067) (7)\n\n \n\n100.0\n\n%\n\nAcquired 1998\n\n \n\n97.9\n\n% \n\n1,249,623\n\n \n\nMacy's, Dillard's, JCPenney, Belk\n\n40.\n\nInternational Market Place\n\n \n\nHI\n\n \n\nWaikiki, Honolulu\n\n \n\nFee and Ground Lease (2081)\n\n \n\n100.0\n\n%\n\nAcquired 2020\n\n \n\n95.6\n\n% \n\n339,414\n\n \n\nTarget, Anthropologie, Balenciaga, Burberry, Tesla\n\n41.\n\nInternational Plaza\n\n \n\nFL\n\n \n\nTampa\n\n \n\nFee and Ground Lease (2080)\n\n \n\n50.1\n\n% (4)\n\nAcquired 2020\n\n \n\n99.1\n\n% \n\n1,370,893\n\n \n\nDillard's, Neiman Marcus, Nordstrom, Dick's House of Sport (6)\n\n42.\n\nKing of Prussia\n\n \n\nPA\n\n \n\nKing of Prussia (Philadelphia)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2003\n\n \n\n95.2\n\n% \n\n2,686,345\n\n \n\nNeiman Marcus, Bloomingdale's, Nordstrom, Macy's, Arhaus Furniture, Dick's Sporting Goods, Primark, Eataly, Netflix House\n\n43.\n\nLa Plaza\n\n \n\nTX\n\n \n\nMcAllen\n\n \n\nFee and Ground Lease (2040) (7)\n\n \n\n100.0\n\n%\n\nBuilt 1976\n\n \n\n99.2\n\n% \n\n1,323,450\n\n \n\nMacy's (8), Dillard's, JCPenney, Primark, Wingate by Wyndham (14)\n\n44.\n\nLakeline Mall\n\n \n\nTX\n\n \n\nCedar Park (Austin)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nBuilt 1995\n\n \n\n96.9\n\n% \n\n1,097,945\n\n \n\nDillard's (8), Macy's, JCPenney, AMC Theatres\n\n45.\n\nLehigh Valley Mall\n\n \n\nPA\n\n \n\nWhitehall\n\n \n\nFee\n\n \n\n50.0\n\n% (4)\n\nAcquired 2003\n\n \n\n95.6\n\n% \n\n1,192,742\n\n \n\nMacy's, JCPenney, Boscov's, Barnes & Noble, Michael's, Dave & Buster's, Golf Galaxy\n\n46.\n\nLenox Square\n\n \n\nGA\n\n \n\nAtlanta\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 1998\n\n \n\n99.6\n\n% \n\n1,546,028\n\n \n\nNeiman Marcus, Bloomingdale's, Macy's, JW Marriott (14), Hyatt Centric (13)\n\n47.\n\nMall at Green Hills, The\n\n \n\nTN\n\n \n\nNashville\n\n \n\nFee and Ground Lease (2105)\n\n \n\n100.0\n\n%\n\nAcquired 2020\n\n \n\n93.1\n\n% \n\n1,057,531\n\n \n\nDillard's, Macy's, Nordstrom\n\n48.\n\nMall at Millenia, The (1)\n\n \n\nFL\n\n \n\nOrlando\n\n \n\nFee\n\n \n\n50.0\n\n% (4)\n\nAcquired 2020\n\n \n\n93.1\n\n% \n\n1,130,483\n\n \n\nBloomingdale's, Macy's, Neiman Marcus\n\n49.\n\nMall at Rockingham Park, The\n\n \n\nNH\n\n \n\nSalem (Boston)\n\n \n\nFee\n\n \n\n28.2\n\n% (4)\n\nAcquired 1999\n\n \n\n99.5\n\n% \n\n1,068,042\n\n \n\nJCPenney, Macy's, Dick's House of Sport, Cinemark Theatre, Casino Salem\n\n50.\n\nMall at Short Hills, The\n\n \n\nNJ\n\n \n\nShort Hills\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2020\n\n \n\n94.1\n\n% \n\n1,413,319\n\n \n\nBloomingdale's, Macy's, Neiman Marcus, Nordstrom, Industrious, Eataly\n\n51.\n\nMall at University Town Center, The\n\n \n\nFL\n\n \n\nSarasota\n\n \n\nFee\n\n \n\n50.0\n\n% (4)\n\nAcquired 2020\n\n \n\n91.9\n\n% \n\n858,640\n\n \n\nDillard's, Macy's, Saks Fifth Avenue, Dick's House of Sport (6)\n\n52.\n\nMall of Georgia\n\n \n\nGA\n\n \n\nBuford (Atlanta)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nBuilt 1999\n\n \n\n98.2\n\n% \n\n1,853,230\n\n \n\nDillard's, Macy's, JCPenney, Belk, Dick's Sporting Goods, Barnes & Noble, Havertys Furniture, Regal Cinema, Von Maur\n\n53.\n\nMall of New Hampshire, The\n\n \n\nNH\n\n \n\nManchester\n\n \n\nFee and Ground Lease (2027-2029) (7)\n\n \n\n56.4\n\n% (4)\n\nAcquired 1999\n\n \n\n97.2\n\n% \n\n801,791\n\n​\n\nMacy's, JCPenney, Best Buy, Dick's Sporting Goods, Dave & Buster's\n\n54.\n\nMall of San Juan, The\n\n \n\nPR\n\n \n\nSan Juan\n\n \n\nFee\n\n \n\n100.0\n\n% (10)\n\nAcquired 2020\n\n \n\n94.5\n\n% \n\n674,733\n\n \n\nH&M, Zara, Pottery Barn, Urban Outfitters, Anthropologie\n\n55.\n\nMcCain Mall\n\n \n\nAR\n\n \n\nN. Little Rock\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nBuilt 1973\n\n \n\n84.3\n\n% \n\n789,502\n\n \n\nDillard's, JCPenney, Regal Cinema\n\n56.\n\nMeadowood Mall\n\n \n\nNV\n\n \n\nReno\n\n \n\nFee\n\n \n\n50.0\n\n% (4)\n\nAcquired 2007\n\n \n\n97.2\n\n% \n\n931,167\n\n \n\nMacy's (8), JCPenney, Dick's Sporting Goods, Crunch Fitness, Round 1\n\n57.\n\nMenlo Park Mall\n\n \n\nNJ\n\n \n\nEdison (New York)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 1997\n\n \n\n97.9\n\n% \n\n1,294,588\n\n​\n\nNordstrom, Macy's, Barnes & Noble, AMC Dine-In Theatre, Round 1 (6)\n\n58.\n\nMiami International Mall\n\n \n\nFL\n\n \n\nMiami\n\n \n\nFee\n\n \n\n95.0\n\n%\n\nBuilt 1982\n\n \n\n98.0\n\n% \n\n1,080,449\n\n \n\nMacy's (8), JCPenney, Elev8 Fun Indoor Adventure Park (6)\n\n59.\n\nMidland Park Mall\n\n \n\nTX\n\n \n\nMidland\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nBuilt 1980\n\n \n\n99.9\n\n% \n\n645,652\n\n \n\nDillard's (8), JCPenney, Ross, Dick's Sporting Goods\n\n60.\n\nMiller Hill Mall\n\n \n\nMN\n\n \n\nDuluth\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nBuilt 1973\n\n \n\n99.4\n\n% \n\n820,001\n\n \n\nJCPenney, Barnes & Noble, DSW, Dick's Sporting Goods, Essentia Health West, Essentia Health East\n\n61.\n\nNorth East Mall\n\n \n\nTX\n\n \n\nHurst (Dallas)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nBuilt 1971\n\n \n\n96.6\n\n% \n\n1,543,932\n\n \n\nDillard's, Macy's, JCPenney, Dick's Sporting Goods, Cinemark Theatres, Primark (6)\n\n31\n\n[Table of Contents](#Toc)\n\n**Simon Property Group, Inc.**\n\n**Simon Property Group, L.P.**\n\n**Property Table**\n\n**U.S. Properties**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**Ownership Interest**\n\n​\n\n​\n\n​\n\n**Year Built**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**(Expiration if**\n\n​\n\n**Legal**\n\n​\n\n**or**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**Property Name**\n\n**  ​**\n\n**State**\n\n**  ​**\n\n**City (CBSA)**\n\n**  ​**\n\n**Lease) (3)**\n\n**  ​**\n\n**Ownership**\n\n**  ​**\n\n**Acquired**\n\n**  ​**\n\n**Occupancy (5)**\n\n**  ​**\n\n**Total GLA**\n\n**  ​**\n\n**Selected Larger Retailers and Uses**\n\n62.\n\nNorthshore Mall\n\n \n\nMA\n\n \n\nPeabody (Boston)\n\n \n\nFee\n\n \n\n56.4\n\n% (4)\n\nAcquired 1999\n\n \n\n94.0\n\n% \n\n1,591,152\n\n \n\nJCPenney, Macy's (8), Barnes & Noble, Shaw's Grocery, The Container Store, Tesla Sales and Service, Life Time Athletic, L.L. Bean, Arhaus Furniture, Dick's House of Sport (6)\n\n63.\n\nOcean County Mall\n\n \n\nNJ\n\n \n\nToms River (New York)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 1998\n\n \n\n96.8\n\n% \n\n889,856\n\n \n\nMacy's, Boscov's, JCPenney, LA Fitness, HomeSense, Ulta\n\n64.\n\nOrland Square\n\n \n\nIL\n\n \n\nOrland Park (Chicago)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 1997\n\n \n\n99.8\n\n% \n\n1,229,301\n\n \n\nMacy's, JCPenney, Dave & Buster's, Von Maur\n\n65.\n\nPenn Square Mall\n\n \n\nOK\n\n \n\nOklahoma City\n\n \n\nGround Lease (2060)\n\n \n\n94.5\n\n%\n\nAcquired 2002\n\n \n\n95.0\n\n% \n\n1,082,982\n\n \n\nMacy's, Dillard's (8), JCPenney, AMC Theatres, The Container Store\n\n66.\n\nPheasant Lane Mall\n\n \n\nNH\n\n \n\nNashua\n\n \n\n-\n\n \n\n—\n\n% (11)\n\nAcquired 2002\n\n \n\n97.0\n\n% \n\n977,460\n\n \n\nJCPenney, Target, Macy's, Dick's Sporting Goods, The Nash Casino\n\n67.\n\nPhillips Place\n\n \n\nNC\n\n \n\nCharlotte\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2025\n\n \n\n95.1\n\n% \n\n132,805\n\n \n\nRH, The Palm Restaurant, Ralph Lauren, Taylor Richards & Conger\n\n68.\n\nPhipps Plaza\n\n \n\nGA\n\n \n\nAtlanta\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 1998\n\n \n\n93.1\n\n% \n\n1,127,024\n\n \n\nSaks Fifth Avenue, Nordstrom, AMC Theatres, Arhaus Furniture, Legoland Discovery Center, AC Hotel by Marriott, Life Time Athletic, Life Time Work, Nobu Hotel and Restaurant, (15)\n\n69.\n\nPlaza Carolina\n\n \n\nPR\n\n \n\nCarolina (San Juan)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2004\n\n \n\n83.9\n\n% \n\n1,154,214\n\n \n\nJCPenney, Tiendas Capri, Econo, T.J. Maxx, Caribbean Cinemas, Burlington\n\n70.\n\nPrien Lake Mall\n\n \n\nLA\n\n \n\nLake Charles\n\n \n\nFee and Ground Lease (2040) (7)\n\n \n\n100.0\n\n%\n\nBuilt 1972\n\n \n\n92.5\n\n% \n\n717,956\n\n \n\nDillard's, JCPenney, Cinemark Theatres, Kohl's, Dick's Sporting Goods, T.J. Maxx/HomeGoods\n\n71.\n\nQuaker Bridge Mall\n\n \n\nNJ\n\n \n\nLawrenceville\n\n \n\nFee\n\n \n\n50.0\n\n% (4)\n\nAcquired 2003\n\n \n\n99.4\n\n% \n\n1,079,938\n\n \n\nMacy's, JCPenney\n\n72.\n\nRockaway Townsquare\n\n \n\nNJ\n\n \n\nRockaway (New York)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 1998\n\n \n\n97.1\n\n% \n\n1,241,645\n\n \n\nMacy's, JCPenney, Raymour & Flanigan, Dick's House of Sport (6)\n\n73.\n\nRoosevelt Field\n\n \n\nNY\n\n \n\nGarden City (New York)\n\n \n\nFee and Ground Lease (2090) (7)\n\n \n\n100.0\n\n%\n\nAcquired 1998\n\n \n\n96.6\n\n% \n\n2,349,159\n\n \n\nBloomingdale's, Nordstrom, Macy's, JCPenney, Dick's Sporting Goods, AMC Entertainment, Neiman Marcus, Primark, Residence Inn by Marriott, AC Hotel by Marriott (6)\n\n74.\n\nRoss Park Mall\n\n \n\nPA\n\n \n\nPittsburgh\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nBuilt 1986\n\n \n\n99.3\n\n% \n\n1,185,112\n\n \n\nJCPenney, Nordstrom, L.L. Bean, Macy's (8), Crate & Barrel, Dick's House of Sport\n\n75.\n\nSanta Rosa Plaza\n\n \n\nCA\n\n \n\nSanta Rosa\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 1998\n\n \n\n97.9\n\n% \n\n697,764\n\n \n\nMacy's, Dave & Buster's (6)\n\n76.\n\nShops at Chestnut Hill, The\n\n \n\nMA\n\n \n\nChestnut Hill (Boston)\n\n \n\nFee\n\n \n\n94.4\n\n%\n\nAcquired 2002\n\n \n\n95.6\n\n% \n\n470,264\n\n \n\nBloomingdale's (8)\n\n77.\n\nShops at Clearfork, The\n\n \n\nTX\n\n \n\nFort Worth\n\n \n\nFee\n\n \n\n45.0\n\n% (4)\n\nBuilt 2017\n\n \n\n88.6\n\n% \n\n552,573\n\n \n\nNeiman Marcus, Arhaus Furniture, AMC Theatres, (15)\n\n78.\n\nShops at Crystals, The\n\n \n\nNV\n\n \n\nLas Vegas\n\n \n\nFee\n\n \n\n50.0\n\n% (4)\n\nAcquired 2016\n\n \n\n97.5\n\n% \n\n282,964\n\n \n\nAria Resort and Casino (14), Prada, Louis Vuitton, Hermes\n\n79.\n\nShops at Mission Viejo, The\n\n \n\nCA\n\n \n\nMission Viejo (Los Angeles)\n\n \n\nFee\n\n \n\n51.0\n\n% (4)\n\nBuilt 1979\n\n \n\n94.0\n\n% \n\n1,265,373\n\n \n\nNordstrom, Macy's (8), Dick's Sporting Goods, Round 1, Arhaus Furniture (6)\n\n80.\n\nShops at Riverside, The\n\n \n\nNJ\n\n \n\nHackensack (New York)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2007\n\n \n\n89.6\n\n% \n\n726,720\n\n \n\nBloomingdale's, Barnes & Noble, Arhaus Furniture, AMC Theatres, Life Time Studio\n\n81.\n\nSmith Haven Mall\n\n \n\nNY\n\n \n\nLake Grove (New York)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 1995\n\n \n\n99.5\n\n% \n\n1,257,593\n\n \n\nMacy's (8), Dick's Sporting Goods, Barnes & Noble, L.L. Bean, Primark, Stony Brook Medical\n\n82.\n\nSouth Hills Village\n\n \n\nPA\n\n \n\nPittsburgh\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 1997\n\n \n\n95.1\n\n% \n\n1,126,733\n\n \n\nMacy's (8), Barnes & Noble, AMC Cinemas, Dick's Sporting Goods, Target, DSW, Ulta, Von Maur, Ashley HomeStore\n\n83.\n\nSouth Shore Plaza\n\n \n\nMA\n\n \n\nBraintree (Boston)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 1998\n\n \n\n92.9\n\n% \n\n1,582,160\n\n \n\nMacy's, Target, Primark, Dick's House of Sport (6)\n\n84.\n\nSouthdale Center\n\n \n\nMN\n\n \n\nEdina (Minneapolis)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2007\n\n \n\n94.8\n\n% \n\n1,156,103\n\n \n\nMacy's, AMC Theatres, Dave & Buster's, RH, Life Time Athletic, Life Time Work/Sport, Kowalski's Market, PuttShack, Homewood Suites by Hilton, (15)\n\n85.\n\nSouthPark\n\n \n\nNC\n\n \n\nCharlotte\n\n \n\nFee and Ground Lease (2040) (9)\n\n \n\n100.0\n\n%\n\nAcquired 2002\n\n \n\n99.1\n\n% \n\n1,699,314\n\n \n\nNeiman Marcus, Nordstrom, Macy's, Dillard's, Belk, Dick's Sporting Goods, Arhaus Furniture, The Container Store, (15)\n\n86.\n\nSpringfield Mall (1)\n\n \n\nPA\n\n \n\nSpringfield (Philadelphia)\n\n \n\nFee\n\n \n\n50.0\n\n% (4)\n\nAcquired 2005\n\n \n\n87.1\n\n% \n\n610,092\n\n \n\nMacy's, Target\n\n87.\n\nSt. Charles Towne Center\n\n \n\nMD\n\n \n\nWaldorf (Washington, DC)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nBuilt 1990\n\n \n\n92.0\n\n% \n\n979,100\n\n \n\nMacy's (8), JCPenney, Kohl's, Dick Sporting Goods, AMC Theatres\n\n88.\n\nSt. Johns Town Center\n\n \n\nFL\n\n \n\nJacksonville\n\n \n\nFee\n\n \n\n50.0\n\n% (4)\n\nBuilt 2005\n\n \n\n99.6\n\n% \n\n1,416,958\n\n \n\nNordstrom, Dillard's, Arhaus Furniture, Dick's Sporting Goods, Barnes & Noble, RH, Homewood Suites by Hilton (14), AC Hotel by Marriott\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n \n\nTarget, Ashley Furniture Home Store, Ross, DSW, Burlington (6), PetsMart, Marshalls\n\n89.\n\nStanford Shopping Center\n\n \n\nCA\n\n \n\nPalo Alto (San Jose)\n\n \n\nGround Lease (2064)\n\n \n\n94.4\n\n% (10)\n\nAcquired 2003\n\n \n\n98.8\n\n% \n\n1,322,323\n\n \n\nNeiman Marcus, Bloomingdale's, Nordstrom, Macy's, Crate and Barrel, The Container Store, Wilkes Bashford, RH\n\n90.\n\nStoneridge Shopping Center\n\n \n\nCA\n\n \n\nPleasanton (San Francisco)\n\n \n\nFee\n\n \n\n49.9\n\n% (4)\n\nAcquired 2007\n\n \n\n97.2\n\n% \n\n1,295,577\n\n \n\nMacy's (8), JCPenney\n\n91.\n\nSummit Mall\n\n \n\nOH\n\n \n\nAkron\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nBuilt 1965\n\n \n\n96.2\n\n% \n\n774,217\n\n \n\nDillard's (8), Macy's, Arhaus Furniture\n\n32\n\n[Table of Contents](#Toc)\n\n**Simon Property Group, Inc.**\n\n**Simon Property Group, L.P.**\n\n**Property Table**\n\n**U.S. Properties**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**Ownership Interest**\n\n​\n\n​\n\n​\n\n**Year Built**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**(Expiration if**\n\n​\n\n**Legal**\n\n​\n\n**or**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**Property Name**\n\n**  ​**\n\n**State**\n\n**  ​**\n\n**City (CBSA)**\n\n**  ​**\n\n**Lease) (3)**\n\n**  ​**\n\n**Ownership**\n\n**  ​**\n\n**Acquired**\n\n**  ​**\n\n**Occupancy (5)**\n\n**  ​**\n\n**Total GLA**\n\n**  ​**\n\n**Selected Larger Retailers and Uses**\n\n92.\n\nTacoma Mall\n\n \n\nWA\n\n \n\nTacoma (Seattle)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 1987\n\n \n\n94.3\n\n% \n\n1,263,980\n\n \n\nNordstrom, Macy's, JCPenney, Dick's Sporting Goods, Nordstrom Rack, Total Wine and More, Ulta, Kohl's\n\n93.\n\nTippecanoe Mall\n\n \n\nIN\n\n \n\nLafayette\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nBuilt 1973\n\n \n\n93.9\n\n% \n\n864,871\n\n \n\nMacy's, JCPenney, Kohl's, Dick's Sporting Goods, Malibu Jack's\n\n94.\n\nTown Center at Boca Raton\n\n \n\nFL\n\n \n\nBoca Raton (Miami)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 1998\n\n \n\n100.0\n\n% \n\n1,776,374\n\n \n\nSaks Fifth Avenue, Neiman Marcus, Bloomingdale's, Nordstrom, Macy's, Crate & Barrel, The Container Store, Joseph's Classic Market, Arhaus Furniture\n\n95.\n\nTowne East Square\n\n \n\nKS\n\n \n\nWichita\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nBuilt 1975\n\n \n\n100.0\n\n% \n\n1,157,209\n\n \n\nDillard's, Von Maur, JCPenney, Round 1, Scheels\n\n96.\n\nTreasure Coast Square\n\n \n\nFL\n\n \n\nJensen Beach\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nBuilt 1987\n\n \n\n94.3\n\n% \n\n873,908\n\n \n\nMacy's, Dillard's, JCPenney, Regal Cinema, Elev8 Fun Indoor Adventure Park\n\n97.\n\nTwelve Oaks Mall\n\n \n\nMI\n\n \n\nNovi\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2020\n\n \n\n89.1\n\n% \n\n1,520,979\n\n \n\nJC Penney, Macy's, Nordstrom, Dick's House of Sport (6)\n\n98.\n\nTyrone Square\n\n \n\nFL\n\n \n\nSt. Petersburg (Tampa)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nBuilt 1972\n\n \n\n84.3\n\n% \n\n955,987\n\n \n\nMacy's, Dillard's, JCPenney, DSW, Cobb 10 Luxury Theatres, Dick's Sporting Goods, Aldi, PetSmart\n\n99.\n\nUniversity Park Mall\n\n \n\nIN\n\n \n\nMishawaka\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nBuilt 1979\n\n \n\n97.5\n\n% \n\n910,370\n\n \n\nMacy's, JCPenney, Barnes & Noble\n\n100.\n\nWalt Whitman Shops\n\n \n\nNY\n\n \n\nHuntington Station (New York)\n\n \n\nFee and Ground Lease (2052) (7)\n\n \n\n100.0\n\n%\n\nAcquired 1998\n\n \n\n97.0\n\n% \n\n1,084,890\n\n \n\nSaks Fifth Avenue, Bloomingdale’s, Macy’s\n\n101.\n\nWaterside Shops (1)\n\n \n\nFL\n\n \n\nNaples\n\n \n\nFee\n\n \n\n50.0\n\n% (4)\n\nAcquired 2020\n\n \n\n100.0\n\n% \n\n304,314\n\n \n\nSaks Fifth Avenue, Hermes, Gucci, Louis Vuitton, RH (6)\n\n102.\n\nWest Town Mall\n\n \n\nTN\n\n \n\nKnoxville\n\n \n\nFee and Ground Lease (2042)\n\n \n\n50.0\n\n% (4)\n\nAcquired 1991\n\n \n\n99.4\n\n% \n\n1,275,963\n\n \n\nBelk (8), Dillard’s, JCPenney, Regal Cinebarre Theatre, Dick's House of Sport, Tesla Sales and Service\n\n103.\n\nWestchester, The\n\n \n\nNY\n\n \n\nWhite Plains (New York)\n\n \n\nFee\n\n \n\n40.0\n\n% (4)\n\nAcquired 1997\n\n \n\n97.0\n\n% \n\n802,897\n\n \n\nNeiman Marcus, Nordstrom, Crate and Barrel, Arhaus Furniture\n\n104.\n\nWestfarms\n\n \n\nCT\n\n \n\nWest Hartford\n\n \n\nFee\n\n \n\n78.9\n\n% (4)\n\nAcquired 2020\n\n \n\n99.2\n\n% \n\n1,263,850\n\n \n\nJC Penney, Macy's (8), Nordstrom, Jordan's Furniture\n\n105.\n\nWhite Oaks Mall\n\n \n\nIL\n\n \n\nSpringfield\n\n \n\nFee\n\n \n\n88.6\n\n%\n\nBuilt 1977\n\n \n\n76.3\n\n% \n\n922,129\n\n \n\nDick's Sporting Goods, LA Fitness, Michael's, Malibu Jack's, State of Illinois Department of Central Management Services\n\n106.\n\nWolfchase Galleria\n\n \n\nTN\n\n \n\nMemphis\n\n \n\nFee\n\n \n\n94.5\n\n%\n\nAcquired 2002\n\n \n\n97.5\n\n% \n\n1,147,164\n\n \n\nMacy's, Dillard's, JCPenney, Malco Theatres, Primark, Courtyard by Marriott (13)\n\n107.\n\nWoodfield Mall\n\n \n\nIL\n\n \n\nSchaumburg (Chicago)\n\n \n\nFee\n\n \n\n50.0\n\n% (4)\n\nAcquired 2012\n\n \n\n97.9\n\n% \n\n2,154,656\n\n \n\nNordstrom, Macy's, JCPenney, Enterrium, Peppa Pig World of Play, Primark\n\n108.\n\nWoodland Hills Mall\n\n \n\nOK\n\n \n\nTulsa\n\n \n\nFee\n\n \n\n94.5\n\n%\n\nAcquired 2002\n\n \n\n98.4\n\n% \n\n1,238,604\n\n \n\nMacy's, Dillard's, JCPenney, Scheel's, Holiday Inn Express (14), Courtyard by Marriott (14)\n\n​\n\n**Total Mall GLA**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**119,734,147**\n\n(17)\n\n​\n\n​\n\n33\n\n[Table of Contents](#Toc)\n\n**Simon Property Group, Inc.**\n\n**Simon Property Group, L.P.**\n\n**Property Table**\n\n**U.S. Properties**\n\n––\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**Ownership Interest**\n\n​\n\n​\n\n​\n\n**Year Built**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**(Expiration if**\n\n​\n\n**Legal**\n\n​\n\n**Or**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**Property Name**\n\n**  ​**\n\n**State**\n\n**  ​**\n\n**City (CBSA)**\n\n**  ​**\n\n**Lease) (3)**\n\n**  ​**\n\n**Ownership**\n\n**  ​**\n\n**Acquired**\n\n**  ​**\n\n**Occupancy (5)**\n\n**  ​**\n\n**Total GLA**\n\n**  ​**\n\n**Selected Tenants**\n\n​\n\n**Premium Outlets**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n1.\n\nAlbertville Premium Outlets\n\n \n\nMN\n\n \n\nAlbertville (Minneapolis)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2004\n\n \n\n93.8\n\n% \n\n301,148\n\n \n\nCoach, Gap Outlet, Kate Spade New York, Lululemon, Michael Kors, Nike, Polo Ralph Lauren, The North Face, Under Armour\n\n2.\n\nAllen Premium Outlets\n\n \n\nTX\n\n \n\nAllen (Dallas)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2004\n\n \n\n100.0\n\n% \n\n548,490\n\n \n\nAdidas, Armani Outlet, Calvin Klein, Coach, Columbia Sportswear, Gap Outlet, J.Crew, Kate Spade New York, Levi's, Michael Kors, Nike, Polo Ralph Lauren, Staybridge Suites (13), The North Face, Tommy Hilfiger, Tory Burch, Under Armour\n\n3.\n\nAurora Farms Premium Outlets\n\n \n\nOH\n\n \n\nAurora (Cleveland)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2004\n\n \n\n91.8\n\n% \n\n262,070\n\n \n\nCalvin Klein, Coach, Gap Outlet, Kate Spade New York, Michael Kors, Nike, Polo Ralph Lauren, The North Face, Tommy Hilfiger, Under Armour\n\n4.\n\nBirch Run Premium Outlets\n\n \n\nMI\n\n \n\nBirch Run (Detroit)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2010\n\n \n\n93.7\n\n% \n\n593,925\n\n \n\nAdidas, Calvin Klein, Coach, J.Crew, Kate Spade New York, Michael Kors, Nike, Polo Ralph Lauren, Pottery Barn/Williams-Sonoma Outlet, Tommy Hilfiger, The North Face, Under Armour\n\n5.\n\nCamarillo Premium Outlets\n\n \n\nCA\n\n \n\nCamarillo (Los Angeles)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2004\n\n \n\n99.5\n\n% \n\n691,160\n\n \n\nAdidas, Calvin Klein, Coach, Columbia Sportswear, Giorgio Armani, H&M, Kate Spade New York, Lululemon, Michael Kors, Nike, Polo Ralph Lauren, The North Face, Tommy Hilfiger, Tory Burch, Toys R Us, Under Armour\n\n6.\n\nCarlsbad Premium Outlets\n\n \n\nCA\n\n \n\nCarlsbad (San Diego)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2004\n\n \n\n100.0\n\n% \n\n288,899\n\n \n\nAdidas, Calvin Klein, Coach, Gap Factory, Kate Spade New York, Michael Kors, Nike Unite, Polo Ralph Lauren, The North Face, Tommy Hilfiger, Tory Burch, Skechers, Under Armour\n\n7.\n\nCarolina Premium Outlets\n\n \n\nNC\n\n \n\nSmithfield (Raleigh)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2004\n\n \n\n97.4\n\n% \n\n439,078\n\n \n\nAdidas, Coach, Columbia Sportswear, Gap Outlet, J.Crew, Nike, Polo Ralph Lauren, Tommy Hilfiger, Under Armour\n\n8.\n\nCharlotte Premium Outlets\n\n \n\nNC\n\n \n\nCharlotte\n\n \n\nFee\n\n \n\n50.0\n\n% (4)\n\nBuilt 2014\n\n \n\n99.8\n\n% \n\n398,386\n\n \n\nAdidas, Coach, Columbia Sportswear, Gap Outlet, Guess, Kate Spade New York, Michael Kors, Nike, Polo Ralph Lauren, Tommy Hilfiger, Under Armour\n\n9.\n\nChicago Premium Outlets\n\n \n\nIL\n\n \n\nAurora (Chicago)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nBuilt 2004\n\n \n\n98.0\n\n% \n\n685,056\n\n \n\nAdidas, Calvin Klein, Coach, Columbia Sportswear, Gap Outlet, J.Crew, Kate Spade New York, Michael Kors, Nike, Polo Ralph Lauren, Pottery Barn Outlet, Under Armour\n\n10.\n\nCincinnati Premium Outlets\n\n \n\nOH\n\n \n\nMonroe (Cincinnati)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nBuilt 2009\n\n \n\n98.2\n\n% \n\n398,932\n\n \n\nAdidas, Calvin Klein, Coach, Gap Outlet, J.Crew, Kate Spade New York, Marc Jacobs, Michael Kors, Nike, Polo Ralph Lauren, The North Face, Tommy Hilfiger, Tory Burch, Under Armour\n\n11.\n\nClarksburg Premium Outlets\n\n \n\nMD\n\n \n\nClarksburg (Washington, DC)\n\n \n\nFee\n\n \n\n66.0\n\n% (4)\n\nBuilt 2016\n\n \n\n96.0\n\n% \n\n381,671\n\n \n\nArmani Outlet, A/X Armani Exchange, Adidas, Calvin Klein, Coach, Columbia Sportswear, Kate Spade New York, Lafayette 148 New York, Marc Jacobs, Michael Kors, Nike, Polo Ralph Lauren, Salvatore Ferragamo, Tommy Hilfiger, Tory Burch, Under Armour, Vince\n\n12.\n\nClinton Premium Outlets\n\n \n\nCT\n\n \n\nClinton\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2004\n\n \n\n100.0\n\n% \n\n276,229\n\n \n\nAdidas, Calvin Klein, Coach, Gap Outlet, J.Crew, Kate Spade New York, Michael Kors, Nike, Polo Ralph Lauren, Tommy Hilfiger, Under Armour\n\n13.\n\nDenver Premium Outlets\n\n \n\nCO\n\n \n\nThornton (Denver)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nBuilt 2018\n\n \n\n98.3\n\n% \n\n328,107\n\n \n\nAdidas, A/X Armani Exchange, Calvin Klein, Coach, Gap Outlet, H&M, Kate Spade New York, Michael Kors, Nike, Polo Ralph Lauren, Tommy Hilfiger, Tory Burch, Under Armour, Vineyard Vines, Staybridge Suites (14)\n\n14.\n\nDesert Hills Premium Outlets\n\n \n\nCA\n\n \n\nCabazon (Palm Springs)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2004\n\n \n\n100.0\n\n% \n\n656,950\n\n \n\nAlexander McQueen, Armani Outlet, Balenciaga, Bottega Veneta, Brunello Cucinelli, Burberry, Coach, Fendi, Ferragamo, Gucci, Jimmy Choo, Loro Piana, Marc Jacobs, Moncler, Nike, Polo Ralph Lauren, Prada, Saint Laurent, Stuart Weitzman, Tory Burch, Valentino, Zegna\n\n15.\n\nEllenton Premium Outlets\n\n \n\nFL\n\n \n\nEllenton (Tampa)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2010\n\n \n\n97.1\n\n% \n\n477,175\n\n \n\nAdidas, Calvin Klein, Coach, Columbia Sportswear, J.Crew, Kate Spade New York, Michael Kors, Nike, Polo Ralph Lauren, Tommy Hilfiger, Under Armour\n\n16.\n\nFinger Lakes Premium Outlets\n\n \n\nNY\n\n \n\nWaterloo\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2004\n\n \n\n65.5\n\n% \n\n413,558\n\n \n\nAmerican Eagle Outfitters, Banana Republic, Brooks Brothers, Calvin Klein, Chico’s, Coach, Columbia Sportswear, H&M, J.Crew, Kate Spade New York, Levi's, Loft Outlet, Michael Kors, Nike, Polo Ralph Lauren, Skechers, Tommy Hilfiger, Under Armour\n\n34\n\n[Table of Contents](#Toc)\n\n**Simon Property Group, Inc.**\n\n**Simon Property Group, L.P.**\n\n**Property Table**\n\n**U.S. Properties**\n\n––\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**Ownership Interest**\n\n​\n\n​\n\n​\n\n**Year Built**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**(Expiration if**\n\n​\n\n**Legal**\n\n​\n\n**Or**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**Property Name**\n\n**  ​**\n\n**State**\n\n**  ​**\n\n**City (CBSA)**\n\n**  ​**\n\n**Lease) (3)**\n\n**  ​**\n\n**Ownership**\n\n**  ​**\n\n**Acquired**\n\n**  ​**\n\n**Occupancy (5)**\n\n**  ​**\n\n**Total GLA**\n\n**  ​**\n\n**Selected Tenants**\n\n17.\n\nFolsom Premium Outlets\n\n \n\nCA\n\n \n\nFolsom (Sacramento)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2004\n\n \n\n98.4\n\n% \n\n295,993\n\n \n\nAdidas, Banana Republic, Calvin Klein, Coach, Gap Outlet, Kate Spade New York, Michael Kors, Nike, Tommy Hilfiger, Under Armour\n\n18.\n\nGilroy Premium Outlets\n\n \n\nCA\n\n \n\nGilroy (San Jose)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2004\n\n \n\n92.4\n\n% \n\n502,867\n\n \n\nAdidas, Calvin Klein, Coach, Columbia Sportswear, J.Crew, Kate Spade New York, Lululemon, Michael Kors, Nike, Polo Ralph Lauren, The North Face, Tommy Hilfiger\n\n19.\n\nGloucester Premium Outlets\n\n \n\nNJ\n\n \n\nBlackwood (Philadelphia)\n\n \n\nFee\n\n \n\n66.7\n\n%\n\nBuilt 2015\n\n \n\n96.6\n\n% \n\n377,907\n\n \n\nAdidas, Banana Republic, Brooks Brothers, Calvin Klein, Columbia Sportswear, Gap Outlet, Guess, Levi's, J. Crew, Loft Outlet, Kate Spade New York, Michael Kors, Nike, Polo Ralph Lauren, Skechers, Tommy Hilfiger, Under Armour, Vera Bradley\n\n20.\n\nGrand Prairie Premium Outlets\n\n \n\nTX\n\n \n\nGrand Prairie (Dallas)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nBuilt 2012\n\n \n\n100.0\n\n% \n\n419,523\n\n \n\nBanana Republic, Bloomingdale's The Outlet Store, Coach, Columbia Sportswear, Dickies, Fan Outfitters, JD Sports, Kate Spade New York, J.Crew, Michael Kors, Nike, Psycho Bunny, Polo Ralph Lauren, Tommy Hilfiger, Under Armour, Vera Bradley\n\n21.\n\nGrove City Premium Outlets\n\n \n\nPA\n\n \n\nGrove City (Pittsburgh)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2010\n\n \n\n91.4\n\n% \n\n525,904\n\n \n\nAdidas, Ann Taylor, Banana Republic, Brooks Brothers, Calvin Klein, Coach, J.Crew, Kate Spade New York, Michael Kors, Nike, Polo Ralph Lauren, The North Face, Tommy Hilfiger, Under Armour\n\n22.\n\nGulfport Premium Outlets\n\n \n\nMS\n\n \n\nGulfport\n\n \n\nGround Lease (2059)\n\n \n\n100.0\n\n%\n\nAcquired 2010\n\n \n\n91.9\n\n% \n\n297,498\n\n \n\nBanana Republic, Chico's, Coach, Gap Outlet, H&M, J.Crew, Kate Spade New York, Michael Kors, Nike, Polo Ralph Lauren, Tommy Hilfiger, Under Armour\n\n23.\n\nHagerstown Premium Outlets\n\n \n\nMD\n\n \n\nHagerstown (Baltimore/Washington, DC)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2010\n\n \n\n69.5\n\n% \n\n485,670\n\n \n\nAmerican Eagle Outfitters, Brooks Brothers, Calvin Klein, Coach, Columbia Sportswear, Gap Outlet, Guess, Kate Spade New York, Loft Outlet, The North Face, Under Armour\n\n24.\n\nHouston Premium Outlets\n\n \n\nTX\n\n \n\nCypress (Houston)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nBuilt 2008\n\n \n\n100.0\n\n% \n\n556,074\n\n \n\nAnn Taylor, Armani Outlet, A/X Armani Exchange, Banana Republic, Brooks Brothers, Burberry, Calvin Klein, Coach, Gap Outlet, Holiday Inn Express (14), JD Sports, Kate Spade New York, Lululemon, Michael Kors, Nike, Polo Ralph Lauren, Tommy Hilfiger, Tory Burch, Victoria's Secret\n\n25.\n\nIndiana Premium Outlets\n\n \n\nIN\n\n \n\nEdinburgh (Indianapolis)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2004\n\n \n\n97.5\n\n% \n\n378,389\n\n \n\nAdidas, Calvin Klein, Coach, Columbia Sportswear, Gap Outlet, Guess, J.Crew, Kate Spade New York, Michael Kors, Nike, Polo Ralph Lauren, Tommy Hilfiger, Under Armour\n\n26.\n\nJackson Premium Outlets\n\n \n\nNJ\n\n \n\nJackson (New York)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2004\n\n \n\n96.7\n\n% \n\n285,575\n\n \n\nAdidas, American Eagle Outfitters, Banana Republic, Brooks Brothers, Calvin Klein, Coach, Gap Outlet, J.Crew, Loft Outlet, Kate Spade New York, Nike, Polo Ralph Lauren, Tommy Hilfiger, Under Armour\n\n27.\n\nJersey Shore Premium Outlets\n\n \n\nNJ\n\n \n\nTinton Falls (New York)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nBuilt 2008\n\n \n\n100.0\n\n% \n\n434,765\n\n \n\nAdidas, Ann Taylor, Banana Republic, Brooks Brothers, Calvin Klein, Coach, Columbia Sportswear, J.Crew, Kate Spade New York, Marc Jacobs, Michael Kors, Nike, Polo Ralph Lauren, Tommy Hilfiger, Under Armour, Vineyard Vines\n\n28.\n\nJohnson Creek Premium Outlets\n\n \n\nWI\n\n \n\nJohnson Creek\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2004\n\n \n\n90.7\n\n% \n\n275,063\n\n \n\nAdidas, Banana Republic, Calvin Klein, Gap Outlet, Loft Outlet, Nike, Polo Ralph Lauren, Tommy Hilfiger, Under Armour\n\n29.\n\nKittery Premium Outlets\n\n \n\nME\n\n \n\nKittery\n\n \n\nFee and Ground Lease (2049) (7)\n\n \n\n100.0\n\n%\n\nAcquired 2004\n\n \n\n96.1\n\n% \n\n261,974\n\n \n\nAdidas, Ann Taylor, Banana Republic, Calvin Klein, Coach, Columbia Sportswear, Gap Outlet, J.Crew, Kate Spade New York, Nike, Polo Ralph Lauren, Tommy Hilfiger, Tumi, Vineyard Vines (6)\n\n30.\n\nLas Americas Premium Outlets\n\n \n\nCA\n\n \n\nSan Diego\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2007\n\n \n\n97.5\n\n% \n\n689,452\n\n \n\nAdidas, Banana Republic, Calvin Klein, Coach, Columbia Sportswear, Gap Outlet, Guess, Kate Spade New York, Lacoste, Michael Kors, Nike, Polo Ralph Lauren, The North Face, Tommy Hilfiger, Under Armour\n\n31.\n\nLas Vegas North Premium Outlets\n\n \n\nNV\n\n \n\nLas Vegas\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nBuilt 2003\n\n \n\n100.0\n\n% \n\n675,750\n\n \n\nAll Saints, Armani Outlet, A/X Armani Exchange, Banana Republic, Burberry, Canali, CH Carolina Herrera, Cheesecake Factory, Coach, David Yurman, Dolce & Gabbana, Etro, Jimmy Choo, John Varvatos, Lululemon, Kate Spade New York, Marc Jacobs, Michael Kors, Nike, Polo Ralph Lauren, Roberto Cavalli, Salvatore Ferragamo, Shake Shack, Tory Burch\n\n35\n\n[Table of Contents](#Toc)\n\n**Simon Property Group, Inc.**\n\n**Simon Property Group, L.P.**\n\n**Property Table**\n\n**U.S. Properties**\n\n––\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**Ownership Interest**\n\n​\n\n​\n\n​\n\n**Year Built**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**(Expiration if**\n\n​\n\n**Legal**\n\n​\n\n**Or**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**Property Name**\n\n**  ​**\n\n**State**\n\n**  ​**\n\n**City (CBSA)**\n\n**  ​**\n\n**Lease) (3)**\n\n**  ​**\n\n**Ownership**\n\n**  ​**\n\n**Acquired**\n\n**  ​**\n\n**Occupancy (5)**\n\n**  ​**\n\n**Total GLA**\n\n**  ​**\n\n**Selected Tenants**\n\n32.\n\nLas Vegas South Premium Outlets\n\n \n\nNV\n\n \n\nLas Vegas\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2004\n\n \n\n99.4\n\n% \n\n535,621\n\n \n\nAdidas, Ann Taylor, Banana Republic, Brooks Brothers, Calvin Klein, Coach, Columbia Sportswear, Gap Outlet, Guess, Kate Spade New York, Michael Kors, Nike, Polo Ralph Lauren, Tommy Hilfiger, Under Armour, Round 1\n\n33.\n\nLee Premium Outlets\n\n \n\nMA\n\n \n\nLee\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2010\n\n \n\n84.8\n\n% \n\n223,611\n\n \n\nAnn Taylor, Banana Republic, Brooks Brothers, Calvin Klein, Coach, Gap Outlet, J.Crew, Kate Spade New York, Levi's, Loft Outlet, Michael Kors, Polo Ralph Lauren, Skechers, Tommy Hilfiger, Under Armour\n\n34.\n\nLeesburg Premium Outlets\n\n \n\nVA\n\n \n\nLeesburg (Washington, DC)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2004\n\n \n\n97.5\n\n% \n\n478,434\n\n \n\nAdidas, Ann Taylor, Armani Outlet, A/X Armani Exchange, Brooks Brothers, Burberry, Coach, Columbia Sportswear, J.Crew,  Kate Spade New York, Marc Jacobs, Michael Kors, Nike, Polo Ralph Lauren, Pottery Barn Outlet, Salvatore Ferragamo, Tory Burch, Under Armour, Vineyard Vines, Williams-Sonoma\n\n35.\n\nLighthouse Place Premium Outlets\n\n \n\nIN\n\n \n\nMichigan City (Chicago, IL)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2004\n\n \n\n87.4\n\n% \n\n444,045\n\n \n\nAdidas, Ann Taylor, Banana Republic, Calvin Klein, Coach, Gap Outlet, Guess, H&M, J.Crew, Kate Spade New York, Michael Kors, Nike, Polo Ralph Lauren, The North Face, Tommy Hilfiger, Under Armour\n\n36.\n\nMerrimack Premium Outlets\n\n \n\nNH\n\n \n\nMerrimack\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nBuilt 2012\n\n \n\n99.0\n\n% \n\n409,081\n\n \n\nAnn Taylor, Banana Republic, Bloomingdale's The Outlet Store, Brooks Brothers, Calvin Klein, Coach, J.Crew, Kate Spade New York, Marc Jacobs, Michael Kors, Nike, Polo Ralph Lauren, Tommy Hilfiger, Tory Burch, Under Armour, Vera Bradley, Vineyard Vines\n\n37.\n\nNapa Premium Outlets\n\n \n\nCA\n\n \n\nNapa\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2004\n\n \n\n99.5\n\n% \n\n178,917\n\n \n\nAdidas, Banana Republic, Brooks Brothers, Calvin Klein, Coach, Gap Outlet, J.Crew, Michael Kors, Nike, Polo Ralph Lauren, Tommy Hilfiger\n\n38.\n\nNorfolk Premium Outlets\n\n \n\nVA\n\n \n\nNorfolk\n\n \n\nFee\n\n \n\n65.0\n\n% (4)\n\nBuilt 2017\n\n \n\n99.2\n\n% \n\n329,789\n\n \n\nA/X Armani Exchange, Banana Republic, Calvin Klein, Coach, Columbia Sportswear, Gap Outlet, H&M, Kate Spade New York, Michael Kors, Nike, Polo Ralph Lauren, Puma, The North Face, Tommy Hilfiger, Tory Burch, Under Armour\n\n39.\n\nNorth Bend Premium Outlets\n\n \n\nWA\n\n \n\nNorth Bend (Seattle)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2004\n\n \n\n86.5\n\n% \n\n189,132\n\n \n\nBanana Republic, Coach, Gap Outlet, Levi's, Kate Spade New York, Michael Kors, Nike, Skechers, Under Armour\n\n40.\n\nNorth Georgia Premium Outlets\n\n \n\nGA\n\n \n\nDawsonville (Atlanta)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2004\n\n \n\n95.8\n\n% \n\n536,629\n\n \n\nAnn Taylor, Armani Outlet, Banana Republic, Brooks Brothers, Burberry, Calvin Klein, Coach, Columbia Sportswear, J.Crew, Kate Spade New York, Lululemon, Michael Kors, Nike, Polo Ralph Lauren, Pottery Barn, The North Face, Tommy Hilfiger, Tory Burch, West Elm, Williams-Sonoma\n\n41.\n\nOrlando International Premium Outlets\n\n \n\nFL\n\n \n\nOrlando\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2010\n\n \n\n97.1\n\n% \n\n775,231\n\n \n\nAdidas, Armani Outlet, Calvin Klein, Carhartt, Coach, Columbia Sportswear, H&M,  J.Crew, Karl Lagerfeld, Kate Spade New York, Marc Jacobs, Michael Kors, Nike, Polo Ralph Lauren, St. John, The North Face, Tommy Hilfiger, Tory Burch, Under Armour\n\n42.\n\nOrlando Vineland Premium Outlets\n\n \n\nFL\n\n \n\nOrlando\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2004\n\n \n\n99.6\n\n% \n\n658,238\n\n \n\nAdidas, All Saints, Armani Outlet, Bally, Bottega Veneta, Brunello Cucinelli, Burberry, Calvin Klein, Carolina Herrera, Coach, Ermenegildo Zegna, Gucci, Jimmy Choo, Kate Spade New York, Lacoste, Lululemon, Michael Kors, Nike, Prada, Polo Ralph Lauren, Salvatore Ferragamo, TAG Heuer, The North Face, Tod's, Tommy Hilfiger, Tory Burch, Under Armour, Versace\n\n43.\n\nPetaluma Village Premium Outlets\n\n \n\nCA\n\n \n\nPetaluma (San Francisco)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2004\n\n \n\n95.5\n\n% \n\n199,261\n\n \n\nAdidas, Banana Republic, Brooks Brothers, Coach, Gap Outlet, Kate Spade New York, Michael Kors, Nike, Tommy Hilfiger\n\n44.\n\nPhiladelphia Premium Outlets\n\n \n\nPA\n\n \n\nLimerick (Philadelphia)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nBuilt 2007\n\n \n\n97.8\n\n% \n\n544,765\n\n \n\nAdidas, Ann Taylor, Banana Republic, Brooks Brothers, Calvin Klein, Coach, Gap Outlet, Guess, H&M, J.Crew, Loft Outlet, Michael Kors, Nike, Polo Ralph Lauren, Rally House, The North Face, Tommy Hilfiger, Tory Burch, Under Armour\n\n45.\n\nPhoenix Premium Outlets\n\n \n\nAZ\n\n \n\nChandler (Phoenix)\n\n \n\nGround Lease (2077)\n\n \n\n100.0\n\n%\n\nBuilt 2013\n\n \n\n99.8\n\n% \n\n356,521\n\n \n\nAdidas, Banana Republic, Brooks Brothers, Calvin Klein, Coach, Columbia Sportswear, Gap Factory Store, Guess, Kate Spade New York, Michael Kors, Nike, Tommy Bahama, Tommy Hilfiger, Tumi, Under Armour\n\n36\n\n[Table of Contents](#Toc)\n\n**Simon Property Group, Inc.**\n\n**Simon Property Group, L.P.**\n\n**Property Table**\n\n**U.S. Properties**\n\n––\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**Ownership Interest**\n\n​\n\n​\n\n​\n\n**Year Built**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**(Expiration if**\n\n​\n\n**Legal**\n\n​\n\n**Or**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**Property Name**\n\n**  ​**\n\n**State**\n\n**  ​**\n\n**City (CBSA)**\n\n**  ​**\n\n**Lease) (3)**\n\n**  ​**\n\n**Ownership**\n\n**  ​**\n\n**Acquired**\n\n**  ​**\n\n**Occupancy (5)**\n\n**  ​**\n\n**Total GLA**\n\n**  ​**\n\n**Selected Tenants**\n\n46.\n\nPismo Beach Premium Outlets\n\n \n\nCA\n\n \n\nPismo Beach\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2010\n\n \n\n97.0\n\n% \n\n147,903\n\n \n\nCalvin Klein, Coach, Guess, Kate Spade New York, Levi's, Nike, Polo Ralph Lauren, Skechers, The North Face, Tommy Hilfiger\n\n47.\n\nPleasant Prairie Premium Outlets\n\n \n\nWI\n\n \n\nPleasant Prairie (Chicago, IL/Milwaukee)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2010\n\n \n\n95.3\n\n% \n\n396,208\n\n \n\nAdidas, Ann Taylor, Banana Republic, Calvin Klein, Coach, Gap Outlet, Kate Spade New York, J.Crew, Lacoste, Loft Outlet, Michael Kors, Nike, Polo Ralph Lauren, The North Face, Tommy Hilfiger, Tory Burch, Under Armour\n\n48.\n\nPocono Premium Outlets\n\n \n\nPA\n\n \n\nTannersville\n\n \n\nFee and Ground Lease (2029) (7)\n\n \n\n100.0\n\n%\n\nAcquired 2004\n\n \n\n99.9\n\n% \n\n411,752\n\n \n\nAdidas, Ann Taylor, Banana Republic, Brooks Brothers, Calvin Klein, Coach, Johnny Rockets, Kate Spade New York, Loft Outlet, Michael Kors, Nike, Polo Ralph Lauren, The North Face, Tommy Hilfiger, Under Armour, Vera Bradley\n\n49.\n\nPuerto Rico Premium Outlets\n\n \n\nPR\n\n \n\nBarceloneta\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2010\n\n \n\n98.8\n\n% \n\n350,688\n\n \n\nAdidas, Calvin Klein, Coach, Gap Outlet, Invicta, Lacoste, Michael Kors, Nike, Polo Ralph Lauren, Puma, Tommy Hilfiger\n\n50.\n\nQueenstown Premium Outlets\n\n \n\nMD\n\n \n\nQueenstown (Baltimore)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2010\n\n \n\n90.8\n\n% \n\n289,596\n\n \n\nAdidas, Banana Republic, Brooks Brothers, Calvin Klein, Coach, Columbia Sportswear, Gap Outlet, J.Crew, Kate Spade New York, Loft Outlet, Michael Kors, Nike, Polo Ralph Lauren, St. John, Tommy Bahama, Under Armour\n\n51.\n\nRio Grande Valley Premium Outlets\n\n \n\nTX\n\n \n\nMercedes (McAllen)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nBuilt 2006\n\n \n\n99.1\n\n% \n\n593,720\n\n \n\nAdidas, Ann Taylor, Armani Outlet, A/X Armani Exchange, Banana Republic, Burlington, Calvin Klein, Coach, Columbia Sportswear, Gap Outlet, H&M, Kate Spade New York, Levi's, Michael Kors, Nike, Pandora, Polo Ralph Lauren, Tommy Hilfiger, Under Armour, Victoria's Secret\n\n52.\n\nRound Rock Premium Outlets\n\n \n\nTX\n\n \n\nRound Rock (Austin)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nBuilt 2006\n\n \n\n100.0\n\n% \n\n495,706\n\n \n\nAdidas, Ann Taylor, Banana Republic, Brooks Brothers, Calvin Klein, Coach, Duluth Trading Company, Gap Outlet, J.Crew, Kate Spade New York, Loft Outlet, Michael Kors, Nike, Polo Ralph Lauren, Tommy Hilfiger, Under Armour, Embassy Suites (14), (15)\n\n53.\n\nSan Francisco Premium Outlets\n\n \n\nCA\n\n \n\nLivermore (San Francisco)\n\n \n\nFee and Ground Lease (2031) (9)\n\n \n\n100.0\n\n%\n\nBuilt 2012\n\n \n\n98.7\n\n% \n\n697,029\n\n \n\nAll Saints, Arc'teryx, A/X Armani Exchange, Bloomingdale's The Outlet Store, Bottega Veneta, Brunello Cucinelli, Burberry, CH Carolina Herrera, Coach, Ermenegildo Zegna, Etro, Furla, Gucci, H&M, Jimmy Choo, John Varvatos, Kate Spade New York, Lacoste, Longchamp, MaxMara, Michael Kors, Nike, Polo Ralph Lauren, Prada, Roger Vivier, Sandro & Maje, Salvatore Ferragamo, Stuart Weitzman, The North Face, Tod's, Tory Burch, Under Armour, Versace, Zadig et Voltaire\n\n54.\n\nSan Marcos Premium Outlets\n\n \n\nTX\n\n \n\nSan Marcos (Austin/San Antonio)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2010\n\n \n\n99.0\n\n% \n\n730,057\n\n \n\nArmani Outlet, Banana Republic, Burberry, CH Carolina Herrera, Dolce & Gabbana, Gucci, J. Crew, Jimmy Choo, Kate Spade New York, Lacoste, Lululemon, Marc Jacobs, Michael Kors, Pandora, Polo Ralph Lauren, Pottery Barn, Saint Laurent Paris, Salvatore Ferragamo, Stuart Weitzman, The North Face, Tommy Bahama, Tory Burch, Versace, Vineyard Vines\n\n55.\n\nSeattle Premium Outlets\n\n \n\nWA\n\n \n\nTulalip (Seattle)\n\n \n\nGround Lease (2079)\n\n \n\n100.0\n\n%\n\nBuilt 2005\n\n \n\n98.3\n\n% \n\n554,811\n\n \n\nAdidas, Ann Taylor, Arc'teryx, Armani Outlet, Banana Republic, Burberry, Calvin Klein, Coach, Columbia Sportswear, Kate Spade New York, Lululemon, Michael Kors, Nike, Polo Ralph Lauren, Stuart Weitzman, The North Face, Tommy Bahama, Tommy Hilfiger, Tory Burch, Under Armour\n\n56.\n\nSilver Sands Premium Outlets\n\n \n\nFL\n\n \n\nDestin\n\n \n\nFee\n\n \n\n50.0\n\n% (4)\n\nAcquired 2012\n\n \n\n90.9\n\n% \n\n446,012\n\n \n\nAdidas, Banana Republic, Brooks Brothers, Coach, Columbia Sportswear, J.Crew, Kate Spade New York, Michael Kors, Nike, Polo Ralph Lauren, Puma, The North Face, Tommy Hilfiger, Tory Burch, Under Armour, Vera Bradley\n\n57.\n\nSt. Augustine Premium Outlets\n\n \n\nFL\n\n \n\nSt. Augustine (Jacksonville)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2004\n\n \n\n99.8\n\n% \n\n327,754\n\n \n\nAdidas,  Ann Taylor, Banana Republic, Brooks Brothers, Calvin Klein, Coach, Columbia Sportswear, Gap Outlet,  J.Crew, Kate Spade New York, Lucky Brand, Nike, Polo Ralph Lauren, Puma, St. John, Tommy Hilfiger, Under Armour\n\n58.\n\nSt. Louis Premium Outlets\n\n \n\nMO\n\n \n\nSt. Louis (Chesterfield)\n\n \n\nFee\n\n \n\n60.0\n\n% (4)\n\nBuilt 2013\n\n \n\n97.4\n\n% \n\n351,416\n\n \n\nAdidas, Ann Taylor, Brooks Brothers, Coach, Gap Outlet, H&M, J. Crew, Kate Spade New York, Levi's, Michael Kors, Nike, Polo Ralph Lauren, Puma, Tommy Hilfiger, Ugg, Under Armour, Vera Bradley\n\n37\n\n[Table of Contents](#Toc)\n\n**Simon Property Group, Inc.**\n\n**Simon Property Group, L.P.**\n\n**Property Table**\n\n**U.S. Properties**\n\n––\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**Ownership Interest**\n\n​\n\n​\n\n​\n\n**Year Built**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**(Expiration if**\n\n​\n\n**Legal**\n\n​\n\n**Or**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**Property Name**\n\n**  ​**\n\n**State**\n\n**  ​**\n\n**City (CBSA)**\n\n**  ​**\n\n**Lease) (3)**\n\n**  ​**\n\n**Ownership**\n\n**  ​**\n\n**Acquired**\n\n**  ​**\n\n**Occupancy (5)**\n\n**  ​**\n\n**Total GLA**\n\n**  ​**\n\n**Selected Tenants**\n\n59.\n\nTampa Premium Outlets\n\n \n\nFL\n\n \n\nLutz (Tampa)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nBuilt 2015\n\n \n\n100.0\n\n% \n\n468,094\n\n \n\nAdidas, A/X Armani Outlet, Banana Republic, BJ's Restaurant and Brewhouse, Brooks Brothers, Calvin Klein, Coach, Columbia Sportswear, Gap Outlet, J. Crew, Kate Spade New York, Lucky Brand, Marc Jacobs, Michael Kors, Nike, Polo Ralph Lauren, Puma, Tommy Hilfiger, Tumi, Under Armour\n\n60.\n\nTanger Outlets - Columbus (1)\n\n \n\nOH\n\n \n\nSunbury (Columbus)\n\n \n\nFee\n\n \n\n50.0\n\n% (4)\n\nBuilt 2016\n\n \n\n99.7\n\n% \n\n352,797\n\n \n\nBanana Republic, Brooks Brothers, Coach, Kate Spade New York, Nike, Polo Ralph Lauren, Under Armour\n\n61.\n\nTanger Outlets - Galveston/Houston (1)\n\n \n\nTX\n\n \n\nTexas City\n\n \n\nFee\n\n \n\n50.0\n\n% (4)\n\nBuilt 2012\n\n \n\n91.8\n\n% \n\n352,705\n\n \n\nBanana Republic, Brooks Brothers, Coach, Gap Outlet, Kate Spade New York, Michael Kors, Nike, Tommy Hilfiger\n\n62.\n\nTucson Premium Outlets\n\n \n\nAZ\n\n \n\nMarana (Tucson)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nBuilt 2015\n\n \n\n91.9\n\n% \n\n366,102\n\n \n\nAdidas, Banana Republic, Brooks Brothers, Calvin Klein, Coach, Gap Outlet, Guess, Levi’s, Michael Kors, Nike, Polo Ralph Lauren, Skechers, Tommy Hilfiger, Under Armour\n\n63.\n\nTulsa Premium Outlets\n\n \n\nOK\n\n \n\nJenks (Tulsa)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nBuilt 2024\n\n \n\n100.0\n\n% \n\n338,472\n\n \n\nAbercrombie & Fitch, Adidas, American Eagle Outfitters, Banana Republic, Camp Pickle (6), Cavender's Boot City, Columbia Sportswear, Five Below, Five Below, JD Sports, Loft Outlet, Michael Kors, Nike, Polo Ralph Lauren,  Puma, Skechers, Tory Burch, Ulta, Under Armour\n\n64.\n\nTwin Cities Premium Outlets\n\n \n\nMN\n\n \n\nEagan\n\n \n\nFee\n\n \n\n35.0\n\n% (4)\n\nBuilt 2014\n\n \n\n97.2\n\n% \n\n403,744\n\n \n\nAdidas, Ann Taylor, Banana Republic, Brooks Brothers, Calvin Klein, Coach, Gap Outlet, J. Crew, Kate Spade New York, Michael Kors, Nike, Polo Ralph Lauren, Talbots,  Under Armour\n\n65.\n\nVacaville Premium Outlets\n\n \n\nCA\n\n \n\nVacaville\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2004\n\n \n\n96.2\n\n% \n\n442,502\n\n \n\nAdidas, Banana Republic, Calvin Klein, Coach, Columbia Sportswear, Gap Outlet, J.Crew, Kate Spade New York, Lacoste, Michael Kors, Nike, Polo Ralph Lauren, Skechers, The North Face, Tommy Hilfiger, Under Armour, West Elm Outlet\n\n66.\n\nWaikele Premium Outlets\n\n \n\nHI\n\n \n\nWaipahu (Honolulu)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2004\n\n \n\n98.8\n\n% \n\n219,379\n\n \n\nAdidas, Armani Outlet, Calvin Klein, Coach, Furla, Kate Spade New York, Michael Kors, Polo Ralph Lauren, Swarovski, Tommy Hilfiger, Tory Burch\n\n67.\n\nWilliamsburg Premium Outlets\n\n \n\nVA\n\n \n\nWilliamsburg\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2010\n\n \n\n95.0\n\n% \n\n507,525\n\n \n\nAdidas, American Eagle Outfitters, Ann Taylor, Banana Republic, Brooks Brothers, Calvin Klein, Coach, J.Crew, Kate Spade New York, Levi's, Loft Outlet, Michael Kors, New Balance, Nike, Pandora, Polo Ralph Lauren, Puma, The North Face, Timberland, Tommy Bahama, Tommy Hilfiger, Under Armour, Vera Bradley, Vineyard Vines\n\n68.\n\nWoodburn Premium Outlets\n\n \n\nOR\n\n \n\nWoodburn (Portland)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2013\n\n \n\n100.0\n\n% \n\n389,223\n\n \n\nAdidas, Ann Taylor, Banana Republic, Calvin Klein, Coach, Gap Outlet, Levi's, Michael Kors, Nike, The North Face, Polo Ralph Lauren, Tommy Hilfiger, Tory Burch, Under Armour\n\n69.\n\nWoodbury Common Premium Outlets\n\n \n\nNY\n\n \n\nCentral Valley (New York)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2004\n\n \n\n98.3\n\n% \n\n921,983\n\n \n\nArc'teryx, Armani Outlet, Balenciaga, Balmain, Bottega Veneta, Breitling, Brioni, Brunello Cucinelli, Burberry, Canali, Celine, Chloe, Coach, Dior, Dolce & Gabbana, Dunhill, Fendi, Givenchy, Golden Goose, Gucci, Jimmy Choo, Lacoste, Loewe, Longchamp, Loro Piana, Marc Jacobs, Michael Kors, Moncler, Mulberry, Nike, Polo Ralph Lauren, Prada, Saint Laurent, Salvatore Ferragamo, Santoni, Shake Shack, Stone Island, Stuart Weitzman, Theory, Tod's, Tom Ford, Tory Burch, Valentino, Versace, Zegna\n\n70.\n\nWrentham Village Premium Outlets\n\n \n\nMA\n\n \n\nWrentham (Boston)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2004\n\n \n\n98.1\n\n% \n\n672,948\n\n \n\nAdidas, All Saints, Armani Outlet, Banana Republic, Bloomingdale's The Outlet Store, Brooks Brothers, Burberry, Calvin Klein, Coach, Ferragamo, Jimmy Choo, Karl Lagerfeld, Kate Spade New York, Lacoste, Lululemon, Marc Jacobs, Michael Kors, Nike, Polo Ralph Lauren, Potterty Barn Outlet, Puma, Theory, Tommy Hilfiger, Tory Burch, Under Armour, Vineyard Vines\n\n​\n\n**Total U.S. Premium Outlets GLA**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**30,690,639**\n\n​\n\n​\n\n​\n\n38\n\n[Table of Contents](#Toc)\n\n**Simon Property Group, Inc.**\n\n**Simon Property Group, L.P.**\n\n**Property Table**\n\n**U.S. Properties**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**Ownership Interest**\n\n​\n\n​\n\n​\n\n**Year Built**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**(Expiration if**\n\n​\n\n**Legal**\n\n​\n\n**or**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**Property Name**\n\n**  ​**\n\n**State**\n\n**  ​**\n\n**City (CBSA)**\n\n**  ​**\n\n**Lease) (3)**\n\n**  ​**\n\n**Ownership**\n\n**  ​**\n\n**Acquired**\n\n**  ​**\n\n**Occupancy (5)**\n\n**  ​**\n\n**Total GLA**\n\n**  ​**\n\n**Selected Tenants**\n\n​\n\n**The Mills**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n1.\n\nArizona Mills\n\n \n\nAZ\n\n \n\nTempe (Phoenix)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2007\n\n \n\n98.5\n\n% \n\n1,221,069\n\n \n\nMarshalls, Burlington, Ross, Harkins Cinemas & IMAX, Sea Life Center, Legoland,  dd's Discounts, Going, Going, Gone by Dick's Sporting Goods, Rainforest Café, Reclectic\n\n2.\n\nArundel Mills\n\n \n\nMD\n\n \n\nHanover (Baltimore)\n\n \n\nFee\n\n \n\n59.3\n\n% (4)\n\nAcquired 2007\n\n \n\n99.8\n\n% \n\n1,955,312\n\n \n\nBass Pro Shops Outdoor World, Burlington, Dave & Buster's, Medieval Times, Off Broadway Shoe Warehouse, T.J. Maxx, Cinemark Egyptian 24 Theatres, Live! Casino Hotel, Ulta, Sun & Ski, Primark, Wayfair Outlet\n\n3.\n\nColorado Mills\n\n \n\nCO\n\n \n\nLakewood (Denver)\n\n \n\nFee\n\n \n\n37.5\n\n% (4)\n\nAcquired 2007\n\n \n\n99.0\n\n% \n\n1,399,610\n\n \n\nOff Broadway Shoe Warehouse, Super Target, United Artists Theatre, Burlington, H&M, Dick's Sporting Goods, Arhaus Loft, Slick City Action Park, 2nd & Charles, Springhill Suites (14)\n\n4.\n\nConcord Mills\n\n \n\nNC\n\n \n\nConcord (Charlotte)\n\n \n\nFee\n\n \n\n59.3\n\n% (4)\n\nAcquired 2007\n\n \n\n99.8\n\n% \n\n1,368,190\n\n \n\nBass Pro Shops Outdoor World, Burlington, Dave & Buster's, Nike Factory Store, Off Broadway Shoes, AMC Theatres, Best Buy, Sea Life Center, H&M, Dick's Sporting Goods, Cavender's Boot City, Primark\n\n5.\n\nDolphin Mall\n\n \n\nFL\n\n \n\nMiami\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2020\n\n \n\n99.3\n\n% \n\n1,404,076\n\n \n\nBass Pro Shops, Cobb Theatres, Burlington (8), Dave & Busters, Vivo!, Primark\n\n6.\n\nGrapevine Mills\n\n \n\nTX\n\n \n\nGrapevine (Dallas)\n\n \n\nFee\n\n \n\n59.3\n\n% (4)\n\nAcquired 2007\n\n \n\n100.0\n\n% \n\n1,779,663\n\n \n\nBurlington, Marshalls, AMC Theatres, Sun & Ski Sports, Legoland Discovery Center, Sea Life Center, Ross, H&M, Round 1 Entertainment, Fieldhouse USA, Rainforest Café, Meow Wolf, Macy's Backstage, Cavender's Boot City, Primark, Springhill Suites (14), Hyatt Place (14), Hawthorn (14)\n\n7.\n\nGreat Mall\n\n \n\nCA\n\n \n\nMilpitas (San Jose)\n\n \n\nFee and Ground Lease (2049) (7)\n\n \n\n100.0\n\n%\n\nAcquired 2007\n\n \n\n100.0\n\n% \n\n1,365,059\n\n \n\nCamille La Vie, Kohl's, Dave & Buster's, Burlington, Marshalls, Nike Factory Store, Century Theatres, Dick's Sporting Goods, Legoland Discovery Center, Altitude Trampoline Park (6)\n\n8.\n\nGreat Lakes Crossing Outlets\n\n \n\nMI\n\n \n\nAuburn Hills\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2020\n\n \n\n97.2\n\n% \n\n1,355,126\n\n \n\nAMC Theatre, Bass Pro Shops, Burlington, Round 1, Nordstrom Rack, Dick's Sporting Goods, Primark\n\n9.\n\nGurnee Mills\n\n \n\nIL\n\n \n\nGurnee (Chicago)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2007\n\n \n\n99.1\n\n% \n\n1,931,339\n\n \n\nBass Pro Shops Outdoor World, Burlington, Kohl's, Marshalls Home Goods, Marcus Cinemas, Value City Furniture, Off Broadway Shoe Warehouse, Macy's, Floor & Decor, Dick's Sporting Goods, Rainforest Café, 2nd & Charles, Hobby Lobby, Round 1, Primark\n\n10.\n\nKaty Mills\n\n \n\nTX\n\n \n\nKaty (Houston)\n\n \n\nFee\n\n \n\n62.5\n\n% (4) (2)\n\nAcquired 2007\n\n \n\n98.6\n\n% \n\n1,679,417\n\n \n\nBass Pro Shops Outdoor World, Books-A-Million, Burlington, Marshalls, Sun & Ski Sports, AMC Theatres, Tilt, Ross, H&M, Primark, Rainforest Café, Slick City\n\n11.\n\nMills at Jersey Gardens, The\n\n \n\nNJ\n\n \n\nElizabeth\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2015\n\n \n\n100.0\n\n% \n\n1,309,390\n\n \n\nBurlington, Cohoes, AMC Theatres, Marshalls, Nike Factory Store, H&M, Tommy Hilfiger, Bloomingdale's Outlet, Pottery Barn Outlet, Primark, Round 1, Residence Inn (14), Courtyard by Marriott (14), Embassy Suites (14), Country Inn & Suites (14)\n\n12.\n\nOntario Mills\n\n \n\nCA\n\n \n\nOntario (Riverside)\n\n \n\nFee\n\n \n\n50.0\n\n% (4)\n\nAcquired 2007\n\n \n\n100.0\n\n% \n\n1,430,423\n\n \n\nBurlington, Nike Factory Store, Marshalls, Nordstrom Rack, Dave & Buster's, Camille La Vie, AMC Theatres, Uniqlo, Skechers Superstore, Rainforest Café, Pottery Barn + West Elm Outlet\n\n13.\n\nOpry Mills\n\n \n\nTN\n\n \n\nNashville\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2007\n\n \n\n99.3\n\n% \n\n1,119,934\n\n \n\nRegal Cinema & IMAX, Dave & Buster's, Sun & Ski, Bass Pro Shops Outdoor World, H&M, Madame Tussauds, TJ Maxx, Rainforest Café, Aquarium Restaurant\n\n14.\n\nOutlets at Orange, The\n\n \n\nCA\n\n \n\nOrange (Los Angeles)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2007\n\n \n\n98.0\n\n% \n\n864,082\n\n \n\nBarnes & Noble, Dave & Buster’s, AMC Theatres, Nordstrom Rack, Bloomingdale's the Outlet Store, Guitar Center, Nike Factory Store\n\n15.\n\nPotomac Mills\n\n \n\nVA\n\n \n\nWoodbridge (Washington, DC)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2007\n\n \n\n99.4\n\n% \n\n1,564,823\n\n \n\nMarshalls, T.J. Maxx, JCPenney, Burlington, Nordstrom Rack, Costco Warehouse, AMC Theatres, Bloomingdale's Outlet, Round 1, Primark, Akira\n\n16.\n\nSawgrass Mills\n\n \n\nFL\n\n \n\nSunrise (Miami)\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2007\n\n \n\n98.9\n\n% \n\n2,365,454\n\n \n\nBrandsMart USA, Burlington, Marshalls, Nordstrom Rack, Target, T.J. Maxx, Regal Cinema, Bloomingdale's Outlet, Dick's Sporting Goods, Primark, HomeSense, AC Hotel by Marriott\n\n​\n\n**Total Mills Properties GLA**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**24,112,967**\n\n​\n\n​\n\n​\n\n39\n\n[Table of Contents](#Toc)\n\n**Simon Property Group, Inc.**\n\n**Simon Property Group, L.P.**\n\n**Property Table**\n\n**U.S. Properties**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**Ownership Interest**\n\n​\n\n​\n\n​\n\n**Year Built**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**(Expiration if**\n\n​\n\n**Legal**\n\n​\n\n**or**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**Property Name**\n\n**  ​**\n\n**State**\n\n**  ​**\n\n**City (CBSA)**\n\n**  ​**\n\n**Lease) (3)**\n\n**  ​**\n\n**Ownership**\n\n**  ​**\n\n**Acquired**\n\n**  ​**\n\n**Occupancy (5)**\n\n**  ​**\n\n**Total GLA**\n\n**  ​**\n\n**Selected Tenants**\n\n​\n\n**Lifestyle Centers**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n1.\n\nABQ Uptown\n\n \n\nNM\n\n \n\nAlbuquerque\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2011\n\n \n\n99.6\n\n% \n\n228,833\n\n \n\nAnthropologie, Apple, Pottery Barn\n\n2.\n\nHamilton Town Center\n\n \n\nIN\n\n \n\nNoblesville (Indianapolis)\n\n \n\nFee\n\n \n\n50.0\n\n% (4)\n\nBuilt 2008\n\n \n\n98.9\n\n% \n\n679,382\n\n \n\nJCPenney, Dick's Sporting Goods, DSW, Emagine Noblesville, Total Wine & More, BJ's Wholesale, Big Blue Swim School, Ross Dress for Less, Nordstrom Rack\n\n3.\n\nLiberty Tree Mall\n\n \n\nMA\n\n \n\nDanvers (Boston)\n\n \n\nFee\n\n \n\n49.1\n\n% (4)\n\nAcquired 1999\n\n \n\n88.4\n\n% \n\n861,398\n\n \n\nMarshalls, Target, Kohl's, Best Buy, Staples, AMC Theatres, Nordstrom Rack, Off Broadway Shoes, Sky Zone, Total Wine & More, Aldi\n\n4.\n\nNorthgate Station\n\n \n\nWA\n\n \n\nSeattle\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nRedeveloped 2021\n\n \n\nN/A\n\n(16)\n\n412,720\n\n(16)\n\nKraken Community Iceplex, Barnes & Noble, Nordstrom Rack, Residence Inn by Marriott (6)\n\n5.\n\nPier Park\n\n \n\nFL\n\n \n\nPanama City Beach\n\n \n\nFee\n\n \n\n65.6\n\n% (4)\n\nBuilt 2008\n\n \n\n93.7\n\n% \n\n944,846\n\n \n\nDillard's, JCPenney, Target, Grand Theatres, Ron Jon Surf Shop, Margaritaville, Marshalls, Dave & Buster's, Skywheel, Pirates Voyage\n\n6.\n\nUniversity Park Village\n\n \n\nTX\n\n \n\nFort Worth\n\n \n\nFee\n\n \n\n100.0\n\n%\n\nAcquired 2015\n\n \n\n100.0\n\n% \n\n171,857\n\n \n\nAnthropologie, Apple, Pottery Barn\n\n​\n\n**Total Lifestyle Centers GLA**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**3,299,036**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**Other Properties**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n1 - 12.\n\nOther Properties\n\n \n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n10,593,367\n\n \n\n​\n\n​\n\n**Total Other GLA**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**10,593,367**\n\n(17)\n\n​\n\n​\n\n**Total U.S. Properties GLA**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**188,430,156**\n\n​\n\n​\n\n​\n\n​\n\n40\n\n[Table of Contents](#Toc)\n\n**Simon Property Group, Inc.**\n\n**Simon Property Group, L.P.**\n\n**Property Table**\n\n**U.S. Properties**\n\n​\n\n​\n\nFOOTNOTES:\n\n(1)This property is managed by a third party.\n\n(2)Our direct and indirect interests in some of the properties held as joint venture interests are subject to preferences on distributions in favor of other partners or us.\n\n(3)The date listed is the expiration date of the last renewal option available to the operating entity under the ground lease. In a majority of the ground leases, we have a right to purchase the lessor’s interest under an option, right of first refusal or other provision.  Unless otherwise indicated, each ground lease listed in this column covers at least 50% of its respective property.\n\n(4)Joint venture properties accounted for under the equity method.\n\n(5)Malls - Executed leases for all company-owned GLA in mall stores, excluding majors and anchors. Premium Outlets and The Mills - Executed leases for all company-owned GLA (or total center GLA).\n\n(6)Indicates box, anchor, major or project currently under development/construction or has announced plans for development.\n\n(7)Indicates ground lease covers less than 50% of the acreage of this property.\n\n(8)Tenant has multiple locations at this center.\n\n(9)Indicates ground lease covers outparcel only.\n\n(10)We receive substantially all the economic benefit of the property due to a preference or advance.\n\n(11)We own a mortgage note that encumbers Pheasant Lane Mall that entitles us to 100% of the economics of this property.\n\n(12)Indicates anchor has announced its intent to close this location.\n\n(13)Indicates box, anchor, major or project currently under development/construction by a third party.\n\n(14)Owned by a third party.\n\n(15)Includes multi-family tenant on-site.\n\n(16)This property is undergoing significant renovation.\n\n(17)GLA includes office space.  \n\n​\n\n​\n\n41\n\n[Table of Contents](#Toc)\n\nUnited States Lease Expirations\n\nThe following table summarizes lease expiration data for our U.S. malls and Premium Outlets, including Puerto Rico, as of December 31, 2025. The data presented does not consider the impact of renewal options that may be contained in leases.\n\n**U.S. MALLS AND PREMIUM OUTLETS LEASE EXPIRATIONS (1)**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**  ​ ​ ​**\n\n​\n\n**  ​ ​ ​**\n\n​\n\n**  ​ ​ ​**\n\n**Avg. Base**\n\n**  ​ ​ ​**\n\n**Percentage of Gross**\n\n​\n\n​\n\n​\n\n**Number of**\n\n​\n\n​\n\n​\n\n**Minimum Rent**\n\n​\n\n**Annual Rental**\n\n​\n\n**Year**\n\n**  ​ ​ ​**\n\n**Leases Expiring**\n\n**  ​ ​ ​**\n\n**Square Feet**\n\n**  ​ ​ ​**\n\n**PSF at 12/31/2025**\n\n**  ​ ​ ​**\n\n**Revenues (2)**\n\n​\n\n**Inline Stores and Freestanding**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\nMonth to Month Leases\n\n​\n\n957\n\n​\n\n3,221,378\n\n​\n\n$\n\n63.60\n\n​\n\n3.0\n\n%\n\n2026\n\n​\n\n3,156\n\n​\n\n10,840,848\n\n​\n\n$\n\n55.63\n\n​\n\n8.7\n\n%\n\n2027\n\n​\n\n3,067\n\n​\n\n11,145,893\n\n​\n\n$\n\n60.25\n\n​\n\n9.7\n\n%\n\n2028\n\n​\n\n2,585\n\n​\n\n10,514,539\n\n​\n\n$\n\n65.82\n\n​\n\n10.2\n\n%\n\n2029\n\n​\n\n2,092\n\n​\n\n8,670,646\n\n​\n\n$\n\n66.19\n\n​\n\n8.2\n\n%\n\n2030\n\n​\n\n1,488\n\n​\n\n6,585,520\n\n​\n\n$\n\n75.60\n\n​\n\n7.1\n\n%\n\n2031\n\n​\n\n786\n\n​\n\n3,966,562\n\n​\n\n$\n\n70.04\n\n​\n\n4.0\n\n%\n\n2032\n\n​\n\n654\n\n​\n\n2,465,174\n\n​\n\n$\n\n91.46\n\n​\n\n3.3\n\n%\n\n2033\n\n​\n\n713\n\n​\n\n2,845,373\n\n​\n\n$\n\n97.80\n\n​\n\n4.0\n\n%\n\n2034\n\n​\n\n772\n\n​\n\n2,982,331\n\n​\n\n$\n\n99.34\n\n​\n\n4.3\n\n%\n\n2035\n\n​\n\n852\n\n​\n\n3,890,609\n\n​\n\n$\n\n101.20\n\n​\n\n5.5\n\n%\n\n2036 and Thereafter\n\n​\n\n680\n\n​\n\n3,408,311\n\n​\n\n$\n\n69.85\n\n​\n\n2.9\n\n%\n\nSpecialty Leasing Agreements w/ terms in excess of 12 months\n\n​\n\n2,370\n\n​\n\n6,732,959\n\n​\n\n$\n\n17.65\n\n​\n\n1.7\n\n%\n\n**Anchors**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\nMonth to Month Leases\n\n​\n\n1\n\n​\n\n59,895\n\n​\n\n$\n\n17.09\n\n​\n\n0.0\n\n%\n\n2026\n\n​\n\n6\n\n​\n\n375,321\n\n​\n\n$\n\n20.85\n\n​\n\n0.0\n\n%\n\n2027\n\n​\n\n13\n\n​\n\n1,570,417\n\n​\n\n$\n\n5.81\n\n​\n\n0.1\n\n%\n\n2028\n\n​\n\n18\n\n​\n\n2,325,205\n\n​\n\n$\n\n5.17\n\n​\n\n0.2\n\n%\n\n2029\n\n​\n\n17\n\n​\n\n1,698,901\n\n​\n\n$\n\n6.59\n\n​\n\n0.2\n\n%\n\n2030\n\n​\n\n18\n\n​\n\n2,087,074\n\n​\n\n$\n\n6.70\n\n​\n\n0.2\n\n%\n\n2031\n\n​\n\n18\n\n​\n\n2,055,372\n\n​\n\n$\n\n5.35\n\n​\n\n0.2\n\n%\n\n2032\n\n​\n\n4\n\n​\n\n282,245\n\n​\n\n$\n\n25.21\n\n​\n\n0.1\n\n%\n\n2033\n\n​\n\n7\n\n​\n\n1,028,383\n\n​\n\n$\n\n8.48\n\n​\n\n0.1\n\n%\n\n2034\n\n​\n\n8\n\n​\n\n709,597\n\n​\n\n$\n\n21.82\n\n​\n\n0.1\n\n%\n\n2035\n\n​\n\n10\n\n​\n\n900,858\n\n​\n\n$\n\n12.77\n\n​\n\n0.1\n\n%\n\n2036 and Thereafter\n\n​\n\n29\n\n​\n\n2,677,406\n\n​\n\n$\n\n15.65\n\n​\n\n0.6\n\n%\n\n(1)Does not consider the impact of renewal options that may be contained in leases. Average Base Minimum Rent psf reflects base minimum rent in the respective year of expiration.\n\n(2)Annual rental revenues represent domestic 2025 consolidated and joint venture combined base rental revenue.\n\n**International Properties**\n\nOur ownership interests in properties outside the United States are primarily owned through joint venture arrangements.  With the exception of our Premium Outlets in Canada, all of our international joint venture properties are managed by joint ventures in which we share control.  \n\nEuropean Investments\n\nAt December 31, 2025, we owned 63,355,252 shares, or approximately 22.2%, of Klépierre, which had a quoted market price of $39.61 per share. Klépierre is a publicly traded, Paris-based real estate company which owns, or has an interest in shopping centers located in 13 countries.\n\nAs of December 31, 2025, we had a controlling interest in a European investee with interests in 12 Designer Outlet properties, 11 of which are located in Europe and one outlet property is located in Canada. Of the 11 properties in Europe, two are in Italy, two are in the Netherlands, two are in the United Kingdom, two are in France and one each is in Austria, Germany, and Spain. As of December 31, 2025, our legal percentage ownership interests in these entities ranged from 23% to 94%.\n\n42\n\n[Table of Contents](#Toc)\n\nAs of December 31, 2025, we had a 100% interest in two luxury outlet destinations in Italy. The Mall Luxury Outlets Firenze, in Leccio, nearby Florence, and The Mall Luxury Outlets Sanremo, in Sanremo on the Italian Riviera.\n\nOther International Investments\n\nWe hold interests in Premium Outlets, including a 40% interest in ten operating joint venture properties in Japan, a 50% interest in five operating joint venture properties in South Korea, a 50% interest in two operating joint venture properties in Mexico, a 50% interest in two operating joint venture properties in Malaysia, a 50% interest in one operating joint venture in Thailand, a 50% interest in one operating joint venture in Indonesia, and a 50% interest in three joint venture properties in Canada. The ten Japanese Premium Outlets operate in various cities throughout Japan and comprise over 3.9 million square feet of GLA and were 99.9% leased as of December 31, 2025.\n\nWe also have an interest in operating joint ventures that own full-price malls located in the People’s Republic of China and in South Korea. Our ownership in these properties ranges from 17% to 49%.\n\nThe following property tables summarize certain data for our international properties as of December 31, 2025 and do not include our equity investment in Klépierre.\n\n​\n\n​\n\n43\n\n[Table of Contents](#Toc)\n\n**Simon Property Group, Inc.**\n\n**Simon Property Group, L.P.**\n\n**Property Table**\n\n**International Properties**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n** **\n\n​\n\n**  ​ ​ ​**\n\n**City**\n\n**  ​ ​ ​**\n\n**Ownership**\n\n**  ​ ​ ​**\n\n**SPG Effective**\n\n**  ​ ​ ​**\n\n​\n\n**  ​ ​ ​**\n\n**Total Gross**\n\n**  ​ ​ ​**\n\n​\n\n** **\n\n​\n\n​\n\n**COUNTRY/Property Name**\n\n​\n\n**(Metropolitan area)**\n\n​\n\n**Interest**\n\n​\n\n**Ownership**\n\n​\n\n**Year Built**\n\n​\n\n**Leasable Area (1)**\n\n​\n\n**Selected Tenants**\n\n** **\n\n​\n\n​\n\n**AUSTRIA**\n\n**  ​ ​ ​**\n\n**  ​ ​ ​**\n\n​\n\n**  ​ ​ ​**\n\n​\n\n**  ​ ​ ​**\n\n​\n\n**  ​ ​ ​**\n\n​\n\n**  ​ ​ ​**\n\n​\n\n**  ​ ​ ​**\n\n​\n\n1.\n\n​\n\nParndorf Designer Outlet\n\n** **\n\nVienna\n\n​\n\nFee\n\n​\n\n90.0\n\n%  \n\n2005\n\n​\n\n118,000\n\n​\n\nAdidas, Armani, Bally, Burberry, Calvin Klein, Coach, Dolce & Gabbana, Furla, Geox, Gucci, Guess, Michael Kors, Moncler, Nike, Polo Ralph Lauren, Porsche Design, Prada, Puma, Tommy Hilfiger,  Zegna\n\n​\n\n​\n\n​\n\n**Subtotal Austria**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**118,000**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**CANADA**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n2.\n\n​\n\nToronto Premium Outlets\n\n​\n\nToronto (Ontario)\n\n​\n\nFee\n\n​\n\n50.0\n\n%  \n\n2013\n\n​\n\n504,900\n\n​\n\nAdidas, Armani, Burberry, Calvin Klein, Coach, Eddie Bauer, Gap, Gucci, Guess, Kate Spade New York, Michael Kors, Nike, Polo Ralph Lauren, Saks Fifth Avenue, Tommy Hilfiger, Tory Burch, Under Armour\n\n​\n\n3.\n\n​\n\nPremium Outlets Montreal\n\n​\n\nMontreal (Quebec)\n\n​\n\nFee\n\n​\n\n50.0\n\n%  \n\n2014\n\n​\n\n367,500\n\n​\n\nAdidas, Calvin Klein, Coach, Gap, Kate Spade New York, Michael Kors, Nike, Polo Ralph Lauren, The North Face, Tommy Hilfiger, Under Armour\n\n​\n\n4.\n\n​\n\nPremium Outlet Collection Edmonton International Airport\n\n​\n\nEdmonton (Alberta)\n\n​\n\nGround Lease (2072)\n\n​\n\n50.0\n\n%  \n\n2018\n\n​\n\n421,900\n\n​\n\nAdidas, Calvin Klein, Coach, Gap Factory, Kate Spade New York, Michael Kors, Nike, Polo Ralph Lauren, Tommy Hilfiger, Under Armour\n\n​\n\n5.\n\n​\n\nVancouver Designer Outlets\n\n** **\n\nVancouver\n\n​\n\nGround Lease (2072)\n\n​\n\n45.0\n\n%  \n\n2015\n\n​\n\n326,000\n\n​\n\nAdidas, Armani, Calvin Klein, Coach, Gap, Kate Spade New York, Michael Kors, Nike, Polo Ralph Lauren, Tommy Hilfiger, Under Armour\n\n​\n\n​\n\n​\n\n**Subtotal Canada**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**1,620,300**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**CHINA**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n6.\n\n​\n\nCityOn.Xian\n\n** **\n\nXi'an\n\n​\n\nGround Lease (2051)\n\n​\n\n25.0\n\n%  \n\nAcquired 2020\n\n​\n\n995,000\n\n​\n\nWangfujing\n\n​\n\n7.\n\n​\n\nCityOn.Zhengzhou\n\n** **\n\nZhengzhou\n\n​\n\nGround Lease (2051)\n\n​\n\n24.5\n\n%  \n\nAcquired 2020\n\n​\n\n919,000\n\n​\n\nG-Super, Wangfujing\n\n​\n\n​\n\n​\n\n**Subtotal China**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**1,914,000**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**FRANCE**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n8.\n\n​\n\nParis-Giverny Designer Outlet\n\n​\n\nVernon (Normandy)\n\n​\n\nFee\n\n​\n\n73.8\n\n%\n\n2023\n\n​\n\n228,000\n\n​\n\nAdidas, Calvin Klein, Coach, Dolce & Gabana, Guess, Moncler, Nike, Puma, Superdry, Tommy Hilfiger, Under Armour, Woolrich\n\n​\n\n9.\n\n​\n\nProvence Designer Outlet\n\n​\n\nMiramas\n\n​\n\nFee\n\n​\n\n90.0\n\n%\n\n2017\n\n​\n\n269,000\n\n​\n\nArmani, Calvin Klein, Guess, Michael Kors, Nike, Polo Ralph Lauren, Puma, Timberland, Tommy Hilfiger\n\n​\n\n​\n\n​\n\n**Subtotal France**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**497,000**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**GERMANY**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n10.\n\n​\n\nOchtrup Designer Outlets\n\n​\n\nOchtrup\n\n​\n\nFee\n\n​\n\n70.5\n\n%\n\n2016\n\n​\n\n191,500\n\n​\n\nAdidas, Calvin Klein, Guess, Lindt, Nike, Puma, Samsonite, Schiesser, Seidensticker, Tom Tailor, Vero Moda\n\n​\n\n​\n\n​\n\n**Subtotal Germany**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**191,500**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**INDONESIA**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n11.\n\n​\n\nJakarta Premium Outlets\n\n​\n\nTangerang\n\n​\n\nFee\n\n​\n\n50.0\n\n%  \n\n2025\n\n​\n\n302,000\n\n​\n\nAdidas, Bally, Coach, Guess, Kate Spade, Nike\n\n​\n\n​\n\n​\n\n**Subtotal Indonesia**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**302,000**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**ITALY**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n12.\n\n​\n\nLa Reggia Designer Outlet\n\n** **\n\nMarcianise (Naples)\n\n​\n\nFee\n\n​\n\n90.0\n\n%  \n\n2010\n\n​\n\n344,000\n\n​\n\nAdidas, Armani, Calvin Klein, Coach, Guess, Liu Jo, Michael Kors, Nike, Pinko, Polo Ralph Lauren, Puma, Timberland, Tommy Hilfiger\n\n​\n\n13.\n\n​\n\nNoventa Di Piave Designer Outlet\n\n** **\n\nVenice\n\n​\n\nFee\n\n​\n\n90.0\n\n%  \n\n2008\n\n​\n\n353,000\n\n​\n\nAdidas, Armani, Bally, Bottega Veneta, Burberry, Calvin Klein, Coach, Dolce & Gabanna, Fendi, Furla, Gucci, Loro Piana, Michael Kors, Nike, Pinko, Polo Ralph Lauren, Prada, Salvatore Ferragamo, Sergio Rossi,Tommy Hilfiger, Valentino, Versace, Zegna\n\n​\n\n14.\n\n​\n\nThe Mall Luxury Outlets Firenze\n\n​\n\nFlorence\n\n​\n\nFee\n\n​\n\n100.0\n\n%  \n\nAcquired 2025\n\n​\n\n264,750\n\n​\n\nAlexander McQueen, Armani, Balenciaga, Burberry, Coach, Dolce & Gabana, Fendi, Ferragamo, Gucci, Jimmy Choo, Saint Laurent, Tom Ford, Valentino, Versace, Zegna\n\n​\n\n15.\n\n​\n\nThe Mall Luxury Outlets Sanremo\n\n​\n\nSanremo\n\n​\n\nFee\n\n​\n\n100.0\n\n%  \n\nAcquired 2025\n\n​\n\n122,300\n\n​\n\nAlexander McQueen, Armani, Balenciaga, Burberry, Dolce & Gabana, Ferragamo, Gucci, Jimmy Choo, Moncler, Saint Laurent, Valentino, Versace, Zegna\n\n​\n\n​\n\n​\n\n**Subtotal Italy**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**1,084,050**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n44\n\n[Table of Contents](#Toc)\n\n**Simon Property Group, Inc.**\n\n**Simon Property Group, L.P.**\n\n**Property Table**\n\n**International Properties**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n** **\n\n​\n\n**  ​ ​ ​**\n\n**City**\n\n**  ​ ​ ​**\n\n**Ownership**\n\n**  ​ ​ ​**\n\n**SPG Effective**\n\n**  ​ ​ ​**\n\n​\n\n**  ​ ​ ​**\n\n**Total Gross**\n\n**  ​ ​ ​**\n\n​\n\n** **\n\n​\n\n​\n\n**COUNTRY/Property Name**\n\n​\n\n**(Metropolitan area)**\n\n​\n\n**Interest**\n\n​\n\n**Ownership**\n\n​\n\n**Year Built**\n\n​\n\n**Leasable Area (1)**\n\n​\n\n**Selected Tenants**\n\n** **\n\n​\n\n​\n\n**JAPAN**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n16.\n\n​\n\nAmi Premium Outlets\n\n​\n\nAmi (Tokyo)\n\n​\n\nFee\n\n​\n\n40.0\n\n%  \n\n2009\n\n​\n\n315,000\n\n​\n\nAdidas, Beams, Coach, Gap Outlet, Kate Spade New York, Michael Kors, Polo Ralph Lauren, Puma, TaylorMade, Tommy Hilfiger\n\n​\n\n17.\n\n​\n\nFukaya-Hanazono Premium Outlets\n\n​\n\nFukaya City (Saitama)\n\n​\n\nGround Lease (2042)\n\n​\n\n40.0\n\n%  \n\n2022\n\n​\n\n296,300\n\n​\n\nAdidas, Armani, Bally, Coach, Dsquared2, Furla, Marc Jacobs, Michael Kors, New Balance, Nike, Polo Ralph Lauren, Puma, Theory, Tommy Hilfiger, Tory Burch, Vans\n\n​\n\n18.\n\n​\n\nGotemba Premium Outlets\n\n​\n\nGotemba City (Tokyo)\n\n​\n\nFee\n\n​\n\n40.0\n\n%  \n\n2000\n\n​\n\n659,500\n\n​\n\nAdidas, Armani, Balenciaga, Bally, Beams, Bottega Veneta, Burberry, Coach, Dolce & Gabbana, Dunhill, Gap Outlet, Gucci, Loro Piana, Michael Kors, Moncler, Nike, Polo Ralph Lauren, Prada/Miu Miu, Puma, Tod's, Tory Burch, United Arrows\n\n​\n\n19.\n\n​\n\nKobe-Sanda Premium Outlets\n\n​\n\nHyougo-ken (Osaka)\n\n​\n\nGround Lease (2026)\n\n​\n\n40.0\n\n%  \n\n2007\n\n​\n\n441,000\n\n​\n\nAdidas, Armani, Bally, Beams, Coach, Dolce & Gabbana, Gap Outlet, Gucci, Kate Spade New York, Marc Jacobs, Michael Kors, Nike, Prada/Miu Miu, Tod's, Tommy Hilfiger, United Arrows, Valentino\n\n​\n\n20.\n\n​\n\nRinku Premium Outlets\n\n​\n\nIzumisano (Osaka)\n\n​\n\nGround Lease (2031)\n\n​\n\n40.0\n\n%  \n\n2000\n\n​\n\n512,500\n\n​\n\nAdidas, Armani, Bally, Beams, Brooks Brothers, Burberry, Coach, Dunhill, Furla, Gap Outlet, Kate Spade New York, Lanvin Collection, Michael Kors, Nike, Olive des Olive, Polo Ralph Lauren, Puma, TaylorMade, Tommy Hilfiger, United Arrows, Zara\n\n​\n\n21.\n\n​\n\nSano Premium Outlets\n\n​\n\nSano (Tokyo)\n\n​\n\nFee\n\n​\n\n40.0\n\n%  \n\n2003\n\n​\n\n390,800\n\n​\n\nAdidas, Beams, Coach, Dunhill, Etro, Furla, Gap Outlet, Gucci, Kate Spade New York, Michael Kors, Nike, TaylorMade\n\n​\n\n22.\n\n​\n\nSendai-Izumi Premium Outlets\n\n​\n\nIzumi Park Town (Sendai)\n\n​\n\nGround Lease (2027)\n\n​\n\n40.0\n\n%  \n\n2008\n\n​\n\n164,200\n\n​\n\nAdidas, Beams, Coach, Gap, Polo Ralph Lauren, Tommy Hilfiger, United Arrows\n\n​\n\n23.\n\n​\n\nShisui Premium Outlets\n\n​\n\nShisui (Chiba)\n\n​\n\nGround Lease (2033)\n\n​\n\n40.0\n\n%  \n\n2013\n\n​\n\n434,600\n\n​\n\nAdidas, Beams, Citizen, Coach, Furla, Gap, Kate Spade New York, Michael Kors, Nike, Polo Ralph Lauren, Samsonite, Tommy Hilfiger, United Arrows\n\n​\n\n24.\n\n​\n\nToki Premium Outlets\n\n​\n\nToki (Nagoya)\n\n​\n\nGround Lease (2033)\n\n​\n\n40.0\n\n%  \n\n2005\n\n​\n\n367,700\n\n​\n\nAdidas, Beams, Coach, Furla, Gap Outlet, Kate Spade New York, Nike, Olive des Olive, Polo Ralph Lauren, Puma, Timberland, Tommy Hilfiger, United Arrows\n\n​\n\n25.\n\n​\n\nTosu Premium Outlets\n\n​\n\nFukuoka (Kyushu)\n\n​\n\nFee\n\n​\n\n40.0\n\n%  \n\n2004\n\n​\n\n328,400\n\n​\n\nAdidas, Beams, Coach, Furla, Gap Outlet, Kate Spade New York, Michael Kors, Nike, Olive des Olive, Polo Ralph Lauren, Puma, Tommy Hilfiger, United Arrows\n\n​\n\n​\n\n​\n\n**Subtotal Japan**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**3,910,000**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**MALAYSIA**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n26.\n\n​\n\nJohor Premium Outlets\n\n​\n\nJohor (Singapore)\n\n​\n\nFee\n\n​\n\n50.0\n\n%  \n\n2011\n\n​\n\n309,400\n\n​\n\nAdidas, Calvin Klein, Coach, DKNY, Furla, Gucci, Guess, Michael Kors, Nike, Polo Ralph Lauren, Prada, Puma, Salvatore Ferragamo, Timberland, Tommy Hilfiger, Tory Burch, Zegna\n\n​\n\n27.\n\n​\n\nGenting Highlands Premium Outlets\n\n​\n\nKuala Lumpur\n\n​\n\nFee\n\n​\n\n50.0\n\n%  \n\n2017\n\n​\n\n277,500\n\n​\n\nAdidas, Coach, Furla, Kate Spade New York, Michael Kors, Nike, Polo Ralph Lauren, Puma\n\n​\n\n​\n\n​\n\n**Subtotal Malaysia**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**586,900**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**MEXICO**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n28.\n\n​\n\nPunta Norte Premium Outlets\n\n​\n\nMexico City\n\n​\n\nFee\n\n​\n\n50.0\n\n%  \n\n2004\n\n​\n\n333,000\n\n​\n\nAdidas, Calvin Klein, CH Carolina Herrera, Coach, Dolce & Gabbana, Nautica, Nike, Salvatore Ferragamo, Zegna\n\n​\n\n29.\n\n​\n\nPremium Outlets Querétaro\n\n​\n\nQuerétaro\n\n​\n\nFee\n\n​\n\n50.0\n\n%  \n\n2019\n\n​\n\n274,800\n\n​\n\nAdidas, Adrianna Papell, Calvin Klein, Guess, Levi's, Nike, Tommy Hilfiger, True Religion, Under Armour\n\n​\n\n​\n\n​\n\n**Subtotal Mexico**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**607,800**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**NETHERLANDS**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\nRoermond Designer Outlet Phases 2 & 3\n\n \n\nRoermond\n\n​\n\nFee\n\n​\n\n90.0\n\n%  \n\n2005\n\n​\n\n173,000\n\n​\n\nArmani, Bally, Burberry, Calvin Klein, Coach, Furla, Gucci, Michael Kors, Moncler, Polo Ralph Lauren, Prada, Swarovski, Tod's, Tommy Hilfiger, UGG, Zegna\n\n​\n\n​\n\n​\n\nRoermond Designer Outlet Phase 4\n\n​\n\nRoermond\n\n​\n\nFee\n\n​\n\n46.1\n\n%\n\n2017\n\n​\n\n125,000\n\n​\n\nAdidas, Karl Lagerfield, Liu Jo, Longchamp, Tag Heuer, Tom Tailor, Woolrich\n\n​\n\n30.\n\n​\n\nSubtotal Roermond\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n298,000\n\n​\n\n​\n\n​\n\n31.\n\n​\n\nDesigner Outlet Roosendaal\n\n​\n\nRoosendaal\n\n​\n\nFee\n\n​\n\n94.0\n\n%\n\n2017\n\n​\n\n247,500\n\n​\n\nAdidas, Calvin Klein, Esprit, Guess, Nike, Puma, S. Oliver, Tommy Hilfiger\n\n​\n\n​\n\n​\n\n**Subtotal Netherlands**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**545,500**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n45\n\n[Table of Contents](#Toc)\n\n**Simon Property Group, Inc.**\n\n**Simon Property Group, L.P.**\n\n**Property Table**\n\n**International Properties**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n** **\n\n​\n\n  ​ ​ ​\n\n**City**\n\n  ​ ​ ​\n\n**Ownership**\n\n  ​ ​ ​\n\n**SPG Effective**\n\n  ​ ​ ​\n\n​\n\n  ​ ​ ​\n\n**Total Gross**\n\n  ​ ​ ​\n\n​\n\n \n\n​\n\n​\n\n**COUNTRY/Property Name**\n\n​\n\n**(Metropolitan area)**\n\n​\n\n**Interest**\n\n​\n\n**Ownership**\n\n​\n\n**Year Built**\n\n​\n\n**Leasable Area (1)**\n\n​\n\n**Selected Tenants**\n\n \n\n​\n\n​\n\n**SOUTH KOREA**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n32.\n\n​\n\nYeoju Premium Outlets\n\n​\n\nYeoju (Seoul)\n\n​\n\nFee\n\n​\n\n50.0\n\n%  \n\n2007\n\n​\n\n551,600\n\n​\n\nAdidas, Armani, Burberry, Chloe, Coach, Fendi, Gucci, Michael Kors, Nike, Polo Ralph Lauren, Prada, Salvatore Ferragamo, Tod's, Under Armour, Valentino, Vivienne Westwood\n\n​\n\n33.\n\n​\n\nPaju Premium Outlets\n\n​\n\nPaju (Seoul)\n\n​\n\nGround Lease (2040)\n\n​\n\n50.0\n\n%  \n\n2011\n\n​\n\n558,900\n\n​\n\nAdidas, Armani, Bean Pole, Calvin Klein, Coach, Jill Stuart, Lanvin Collection, Marc Jacobs, Michael Kors, Nike, Polo Ralph Lauren, Puma, Tory Burch, Under Armour, Vivienne Westwood\n\n​\n\n34.\n\n​\n\nBusan Premium Outlets\n\n​\n\nBusan\n\n​\n\nFee\n\n​\n\n50.0\n\n%  \n\n2013\n\n​\n\n544,200\n\n​\n\nAdidas, Armani, Bean Pole, Calvin Klein, Coach, Michael Kors, Nike, Polo Ralph Lauren, The North Face, Tommy Hilfiger\n\n​\n\n35.\n\n​\n\nSiehung Premium Outlets\n\n​\n\nSiehung\n\n​\n\nFee\n\n​\n\n50.0\n\n%  \n\n2017\n\n​\n\n444,400\n\n​\n\nAdidas, Armani, Bean Pole, Calvin Klein, Coach, Michael Kors, Nike, Polo Ralph Lauren, Salvatore Ferragamo, The North Face, Under Armour\n\n​\n\n36.\n\n​\n\nJeju Premium Outlets\n\n​\n\nJeju Province\n\n​\n\nGround Lease (2041)\n\n​\n\n50.0\n\n%\n\n2021\n\n​\n\n92,000\n\n​\n\nArcteryx, Coach, Golden Goose, Hugo Boss,  J. Lindeberg, Moncler\n\n​\n\n37.\n\n​\n\nStarfield Anseong\n\n​\n\nAnseong\n\n​\n\nFee\n\n​\n\n49.0\n\n%\n\nAcquired 2020\n\n​\n\n1,068,000\n\n​\n\nShinsegae, E-Mart Traders\n\n​\n\n38.\n\n​\n\nStarfield Hanam\n\n​\n\nHanam\n\n​\n\nFee\n\n​\n\n17.2\n\n%\n\nAcquired 2020\n\n​\n\n1,709,000\n\n​\n\nShinsegae, E-Mart Traders\n\n​\n\n​\n\n​\n\n**Subtotal South Korea**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**4,968,100**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**SPAIN**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n39.\n\n​\n\nMálaga Designer Outlet\n\n​\n\nMálaga\n\n​\n\nFee\n\n​\n\n46.1\n\n%\n\n2020\n\n​\n\n191,000\n\n​\n\nAdidas, Armani, Calvin Klein, Furla, Guess, Polo Ralph Lauren, Prada, Tommy Hilfiger, Under Armour\n\n​\n\n​\n\n​\n\n**Subtotal Spain**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**191,000**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**THAILAND**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n40.\n\n​\n\nSiam Premium Outlets Bangkok\n\n​\n\nBangkok\n\n​\n\nFee\n\n​\n\n50.0\n\n%  \n\n2020\n\n​\n\n264,000\n\n​\n\nAdidas, Balenciage, Burberry, Calvin Klein, Coach, Furla, Kate Spade New York, Nike, Skechers, Under Armour\n\n​\n\n​\n\n​\n\n**Subtotal Thailand**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**264,000**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**UNITED KINGDOM**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n41.\n\n​\n\nAshford Designer Outlet\n\n \n\nKent\n\n​\n\nFee\n\n​\n\n45.0\n\n%  \n\n2000\n\n​\n\n281,000\n\n​\n\nAdidas, Calvin Klein, Clarks, Fossil, French Connection, Guess, Kate Spade New York, Nike, Polo Ralph Lauren, Superdry, Tommy Hilfiger\n\n​\n\n42.\n\n​\n\nWest Midlands Designer Outlet\n\n​\n\nCannock (West Midlands)\n\n​\n\nFee\n\n​\n\n23.2\n\n%\n\n2021\n\n​\n\n197,000\n\n​\n\nAdidas, Calvin Klein, Clarks, Coach, Guess, Kate Spade, Nike, Puma, Superdry, Tommy Hilfiger, Under Armour\n\n​\n\n​\n\n​\n\n**Subtotal United Kingdom**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**478,000**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**TOTAL INTERNATIONAL**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**17,278,150**\n\n​\n\n​\n\n​\n\nFOOTNOTES:\n\n(1)All gross leasable area listed in square feet.    \n\n​\n\n​\n\n​\n\n46\n\n[Table of Contents](#Toc)\n\nLand\n\nWe have direct or indirect ownership interests in approximately 70 acres of land held in the United States and Canada for future development.\n\nSustainability\n\nSimon has integrated sustainability initiatives into our business operations: how we plan, develop, and operate our properties.\n\nReducing our energy consumption is a central commitment to reducing our environmental impact.  In 2020, we announced the adoption of 2035 greenhouse gas emissions targets approved by the Science Based Target Initiative (“SBTi”). Our target is to reduce scope 1 and scope 2 emissions by 68% (2019 baseline), and scope 3 emissions by 20.9% (2018 baseline). We believe that our climate related risk disclosures are aligned with the recommendations of the Task Force on Climate Related Financial Disclosures established by the Financial Stability Board. \n\nReducing water consumption and landfill waste are also components of reducing our carbon and environmental footprint. We have already achieved our initial target of reducing water usage by 20% (2013 baseline), and we set a new target to reduce water for comparable centers by 15% by 2030, base year 2022.\n\nThe Governance and Nominating Committee of our Board of Directors (“Board”) has been allocated the oversight of our sustainability policies.  Additionally, the Board has delegated to the Audit Committee the oversight and the annual disclosure of our sustainability programs in the form of an annual sustainability report.\n\nIn 2025, we were once again awarded a Green Star rating (2014-2025) - the highest designation awarded for leadership in sustainability performance by the Global Real Estate Sustainability Benchmark.\n\nTo learn more about our sustainability initiatives and detailed reporting please access our latest Sustainability Report at investors.simon.com.  Information in the Sustainability Report and our Company website is not incorporated herein by reference and should not be considered part of this Annual Report on Form 10-K. \n\n​\n\nMortgages and Unsecured Debt\n\nThe following table sets forth certain information regarding the mortgages encumbering our properties, and the properties held by our domestic and international joint venture arrangements, and also our unsecured corporate debt. Substantially all of the mortgage and property related debt is nonrecourse to us.  \n\n​\n\n​\n\n47\n\n[Table of Contents](#Toc)\n\n**Mortgage and Unsecured Debt**\n\n**As of December 31, 2025**\n\n**(Dollars in thousands)**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**Interest**\n\n​\n\n**Face**\n\n​\n\n**Annual Debt**\n\n​\n\n**Maturity**\n\n​\n\n**Property Name**\n\n  ​ ​ ​\n\n**Rate**\n\n  ​ ​ ​\n\n**Amount**\n\n  ​ ​ ​\n\n**Service (1)**\n\n  ​ ​ ​\n\n**Date**\n\n​\n\nConsolidated Indebtedness:\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\nSecured Indebtedness:\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\nArizona Mills\n\n \n\n3.80\n\n%  \n\n​\n\n​\n\n$\n\n91,995\n\n​\n\n​\n\n$\n\n5,503\n\n​\n\n​\n\n09/01/26\n\n​\n\nBirch Run Premium Outlets\n\n \n\n4.21\n\n%  \n\n​\n\n​\n\n​\n\n123,000\n\n​\n\n​\n\n​\n\n5,177\n\n(2)\n\n​\n\n02/06/26\n\n​\n\nBriarwood Mall\n\n \n\n3.29\n\n%  \n\n​\n\n​\n\n​\n\n165,000\n\n​\n\n​\n\n​\n\n5,432\n\n(2)\n\n​\n\n09/01/26\n\n​\n\nCalhoun Outlet Marketplace\n\n \n\n4.17\n\n%  \n\n​\n\n​\n\n​\n\n15,821\n\n(19)\n\n​\n\n​\n\n1,120\n\n​\n\n​\n\n06/01/26\n\n​\n\nCherry Creek Shopping Center\n\n \n\n3.85\n\n%  \n\n​\n\n​\n\n​\n\n550,000\n\n​\n\n​\n\n​\n\n21,175\n\n(2)\n\n​\n\n06/01/28\n\n​\n\nCity Creek Center\n\n \n\n7.63\n\n%  \n\n​\n\n​\n\n​\n\n70,000\n\n​\n\n​\n\n​\n\n5,341\n\n(2)\n\n​\n\n05/01/29\n\n​\n\nDolphin Mall\n\n \n\n5.35\n\n%  \n\n(44)\n\n​\n\n​\n\n1,000,000\n\n​\n\n​\n\n​\n\n53,500\n\n(2)\n\n​\n\n12/09/29\n\n(3)\n\nDomain, The\n\n \n\n3.09\n\n%  \n\n​\n\n​\n\n​\n\n210,000\n\n​\n\n​\n\n​\n\n6,497\n\n(2)\n\n​\n\n07/01/31\n\n​\n\nEllenton Premium Outlets\n\n \n\n6.21\n\n%  \n\n​\n\n​\n\n​\n\n120,000\n\n​\n\n​\n\n​\n\n7,450\n\n(2)\n\n​\n\n12/01/35\n\n​\n\nEmpire Mall\n\n \n\n6.72\n\n%  \n\n​\n\n​\n\n​\n\n120,000\n\n​\n\n​\n\n​\n\n8,059\n\n(2)\n\n​\n\n10/01/30\n\n​\n\nGaffney Outlet Marketplace\n\n \n\n4.17\n\n%  \n\n​\n\n​\n\n​\n\n25,558\n\n(19)\n\n​\n\n​\n\n1,809\n\n​\n\n​\n\n06/01/26\n\n​\n\nGloucester Premium Outlets\n\n \n\n6.12\n\n%  \n\n​\n\n​\n\n​\n\n75,000\n\n​\n\n​\n\n​\n\n4,593\n\n(2)\n\n​\n\n03/01/33\n\n​\n\nGreat Lakes Crossing Outlets\n\n \n\n6.52\n\n%  \n\n​\n\n​\n\n​\n\n180,000\n\n​\n\n​\n\n​\n\n11,738\n\n(2)\n\n​\n\n02/01/33\n\n​\n\nGrove City Premium Outlets\n\n​\n\n7.31\n\n%  \n\n​\n\n​\n\n​\n\n140,000\n\n​\n\n​\n\n​\n\n10,232\n\n(2)\n\n​\n\n12/01/28\n\n(3)\n\nGulfport Premium Outlets\n\n \n\n7.35\n\n%  \n\n​\n\n​\n\n​\n\n50,000\n\n​\n\n​\n\n​\n\n3,674\n\n(2)\n\n​\n\n12/01/28\n\n(3)\n\nGurnee Mills\n\n \n\n3.99\n\n%  \n\n​\n\n​\n\n​\n\n257,710\n\n​\n\n​\n\n​\n\n10,283\n\n(2)\n\n​\n\n10/01/26\n\n​\n\nHagerstown Premium Outlets\n\n \n\n4.26\n\n%  \n\n​\n\n​\n\n​\n\n68,365\n\n​\n\n​\n\n​\n\n2,912\n\n(2)\n\n​\n\n02/06/26\n\n​\n\nLa Reggia Designer Outlets Phases 1 & 2\n\n \n\n4.44\n\n%  \n\n(25)\n\n​\n\n​\n\n185,964\n\n(30)\n\n​\n\n​\n\n15,515\n\n​\n\n​\n\n03/31/27\n\n​\n\nLee Premium Outlets\n\n \n\n4.17\n\n%  \n\n​\n\n​\n\n​\n\n43,813\n\n(19)\n\n​\n\n​\n\n3,102\n\n​\n\n​\n\n06/01/26\n\n​\n\nMall at Short Hills, The\n\n \n\n3.48\n\n%  \n\n​\n\n​\n\n​\n\n1,000,000\n\n​\n\n​\n\n​\n\n34,800\n\n(2)\n\n​\n\n10/01/27\n\n​\n\nMiami International Mall\n\n \n\n7.92\n\n%  \n\n​\n\n​\n\n​\n\n151,980\n\n​\n\n​\n\n​\n\n12,037\n\n(2)\n\n​\n\n02/06/26\n\n​\n\nNoventa Di Piave Designer Outlet Phases 1, 2, 3, 4\n\n​\n\n4.48\n\n%  \n\n​\n\n​\n\n​\n\n325,899\n\n(30)\n\n​\n\n​\n\n14,597\n\n(2)\n\n​\n\n01/23/26\n\n​\n\nOchtrup Designer Outlet\n\n​\n\n2.10\n\n%  \n\n​\n\n​\n\n​\n\n58,701\n\n(30)\n\n​\n\n​\n\n1,233\n\n(2)\n\n​\n\n06/30/26\n\n​\n\nOpry Mills\n\n​\n\n4.09\n\n%  \n\n​\n\n​\n\n​\n\n375,000\n\n​\n\n​\n\n​\n\n15,345\n\n(2)\n\n​\n\n07/01/26\n\n​\n\nParis-Giverny Designer Outlet\n\n​\n\n4.66\n\n%  \n\n(42)\n\n​\n\n​\n\n81,947\n\n(30)\n\n​\n\n​\n\n3,815\n\n(2)\n\n​\n\n06/11/26\n\n​\n\nParndorf Designer Outlet\n\n​\n\n2.00\n\n%  \n\n​\n\n​\n\n​\n\n212,307\n\n(30)\n\n​\n\n​\n\n4,246\n\n(2)\n\n​\n\n07/04/29\n\n​\n\nPenn Square Mall\n\n​\n\n3.84\n\n%  \n\n​\n\n​\n\n​\n\n310,000\n\n​\n\n​\n\n​\n\n11,910\n\n(2)\n\n​\n\n01/01/26\n\n​\n\nPismo Beach Premium Outlets\n\n​\n\n3.33\n\n%  \n\n​\n\n​\n\n​\n\n29,393\n\n(20)\n\n​\n\n​\n\n1,922\n\n​\n\n​\n\n09/06/26\n\n​\n\nPleasant Prairie Premium Outlets\n\n​\n\n4.00\n\n%  \n\n​\n\n​\n\n​\n\n145,000\n\n​\n\n​\n\n​\n\n5,793\n\n(2)\n\n​\n\n09/01/27\n\n​\n\nPotomac Mills\n\n \n\n3.46\n\n%  \n\n​\n\n​\n\n​\n\n416,000\n\n​\n\n​\n\n​\n\n14,383\n\n(2)\n\n​\n\n11/01/26\n\n​\n\nProvence Designer Outlet\n\n​\n\n4.00\n\n%  \n\n(33)\n\n​\n\n​\n\n110,453\n\n(30)\n\n​\n\n​\n\n4,418\n\n(2)\n\n​\n\n07/27/27\n\n(3)\n\nQueenstown Premium Outlets\n\n​\n\n3.33\n\n%  \n\n​\n\n​\n\n​\n\n51,635\n\n(20)\n\n​\n\n​\n\n3,376\n\n​\n\n​\n\n09/06/26\n\n​\n\nRoermond Designer Outlet\n\n \n\n3.90\n\n%  \n\n​\n\n​\n\n​\n\n328,726\n\n(30)\n\n​\n\n​\n\n12,814\n\n(2)\n\n​\n\n06/06/29\n\n​\n\nRoosendaal Designer Outlets\n\n \n\n5.40\n\n%  \n\n(24)\n\n​\n\n​\n\n76,311\n\n(30)\n\n​\n\n​\n\n4,122\n\n(2)\n\n​\n\n02/28/29\n\n(3)\n\nShops at Chestnut Hill, The\n\n \n\n6.66\n\n%  \n\n​\n\n​\n\n​\n\n91,404\n\n​\n\n​\n\n​\n\n7,871\n\n​\n\n​\n\n08/31/33\n\n​\n\nSouth Park Mall Hotel\n\n \n\n4.76\n\n%  \n\n​\n\n​\n\n​\n\n14,340\n\n​\n\n​\n\n​\n\n1,117\n\n​\n\n​\n\n02/01/31\n\n​\n\nSouthridge Mall\n\n \n\n3.85\n\n%  \n\n​\n\n​\n\n​\n\n103,889\n\n​\n\n​\n\n​\n\n4,004\n\n(2)\n\n​\n\n06/06/23\n\n(8)\n\n48\n\n[Table of Contents](#Toc)\n\n**Mortgage and Unsecured Debt**\n\n**As of December 31, 2025**\n\n**(Dollars in thousands)**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**Interest**\n\n​\n\n**Face**\n\n​\n\n**Annual Debt**\n\n​\n\n**Maturity**\n\n​\n\n**Property Name**\n\n  ​ ​ ​\n\n**Rate**\n\n  ​ ​ ​\n\n**Amount**\n\n  ​ ​ ​\n\n**Service (1)**\n\n  ​ ​ ​\n\n**Date**\n\n​\n\nSummit Mall\n\n \n\n3.31\n\n%  \n\n​\n\n​\n\n$\n\n85,000\n\n​\n\n​\n\n$\n\n2,817\n\n(2)\n\n​\n\n10/01/26\n\n​\n\nSyosset Park\n\n​\n\n5.29\n\n%  \n\n(16)\n\n​\n\n​\n\n85,000\n\n​\n\n​\n\n​\n\n4,494\n\n(2)\n\n​\n\n04/01/30\n\n(3)\n\nTwelve Oaks Mall\n\n \n\n4.85\n\n%  \n\n​\n\n​\n\n​\n\n260,737\n\n​\n\n​\n\n​\n\n18,987\n\n​\n\n​\n\n03/06/28\n\n​\n\nUniversity Park Village\n\n \n\n3.85\n\n%  \n\n​\n\n​\n\n​\n\n48,927\n\n​\n\n​\n\n​\n\n3,116\n\n​\n\n​\n\n05/01/28\n\n​\n\nWhite Oaks Mall\n\n​\n\n6.98\n\n%  \n\n​\n\n​\n\n​\n\n31,652\n\n​\n\n​\n\n​\n\n2,210\n\n(2)\n\n​\n\n06/15/27\n\n​\n\nWilliamsburg Premium Outlets\n\n​\n\n4.23\n\n%  \n\n​\n\n​\n\n​\n\n185,000\n\n​\n\n​\n\n​\n\n7,824\n\n(2)\n\n​\n\n02/06/26\n\n​\n\nWolfchase Galleria\n\n​\n\n4.15\n\n%  \n\n​\n\n​\n\n​\n\n155,152\n\n​\n\n​\n\n​\n\n6,433\n\n(2)\n\n​\n\n11/01/26\n\n​\n\n**Total Consolidated Secured Indebtedness**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n$\n\n8,226,679\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**Unsecured Indebtedness:**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\nSimon Property Group, L.P.\n\n \n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\nRevolving Credit Facility - USD\n\n \n\n4.12\n\n%  \n\n(15)\n\n​\n\n$\n\n460,000\n\n​\n\n​\n\n$\n\n18,973\n\n(2)\n\n​\n\n06/30/28\n\n(3)\n\nGlobal Commercial Paper - USD\n\n \n\n4.04\n\n%  \n\n(4)\n\n​\n\n​\n\n355,000\n\n​\n\n​\n\n​\n\n14,337\n\n(2)\n\n​\n\n01/22/26\n\n(4)\n\nUnsecured Notes - 22C\n\n​\n\n6.75\n\n%  \n\n​\n\n​\n\n​\n\n600,000\n\n​\n\n​\n\n​\n\n40,500\n\n(14)\n\n​\n\n02/01/40\n\n​\n\nUnsecured Notes - 25C\n\n \n\n4.75\n\n%  \n\n​\n\n​\n\n​\n\n550,000\n\n​\n\n​\n\n​\n\n26,125\n\n(14)\n\n​\n\n03/15/42\n\n​\n\nUnsecured Notes - 28B\n\n \n\n4.25\n\n%  \n\n​\n\n​\n\n​\n\n400,000\n\n​\n\n​\n\n \n\n17,000\n\n(14)\n\n​\n\n10/01/44\n\n​\n\nUnsecured Notes - 30B\n\n \n\n3.30\n\n%  \n\n​\n\n​\n\n​\n\n800,000\n\n​\n\n​\n\n \n\n26,400\n\n(14)\n\n​\n\n01/15/26\n\n​\n\nUnsecured Notes - 31B\n\n \n\n3.25\n\n%  \n\n​\n\n​\n\n​\n\n750,000\n\n​\n\n​\n\n​\n\n24,375\n\n(14)\n\n​\n\n11/30/26\n\n​\n\nUnsecured Notes - 31C\n\n \n\n4.25\n\n%  \n\n​\n\n​\n\n​\n\n550,000\n\n​\n\n​\n\n​\n\n23,375\n\n(14)\n\n​\n\n11/30/46\n\n​\n\nUnsecured Notes - 32B\n\n \n\n3.38\n\n%  \n\n​\n\n​\n\n​\n\n750,000\n\n​\n\n​\n\n \n\n25,313\n\n(14)\n\n​\n\n06/15/27\n\n​\n\nUnsecured Notes - 33B\n\n \n\n3.38\n\n%  \n\n​\n\n​\n\n​\n\n750,000\n\n​\n\n​\n\n \n\n25,313\n\n(14)\n\n​\n\n12/01/27\n\n​\n\nUnsecured Notes - 34B\n\n​\n\n2.45\n\n%  \n\n​\n\n​\n\n​\n\n1,250,000\n\n​\n\n​\n\n​\n\n30,625\n\n(14)\n\n​\n\n09/13/29\n\n​\n\nUnsecured Notes - 34C\n\n​\n\n3.25\n\n%  \n\n​\n\n​\n\n​\n\n1,250,000\n\n​\n\n​\n\n​\n\n40,625\n\n(14)\n\n​\n\n09/13/49\n\n​\n\nUnsecured Notes - 35A\n\n​\n\n2.65\n\n%  \n\n​\n\n​\n\n​\n\n750,000\n\n​\n\n​\n\n​\n\n19,875\n\n(14)\n\n​\n\n07/15/30\n\n​\n\nUnsecured Notes - 35B\n\n \n\n3.80\n\n%  \n\n​\n\n​\n\n​\n\n750,000\n\n​\n\n​\n\n \n\n28,500\n\n(14)\n\n​\n\n07/15/50\n\n​\n\nUnsecured Notes - 36A\n\n \n\n1.75\n\n%  \n\n​\n\n​\n\n​\n\n800,000\n\n​\n\n​\n\n \n\n14,000\n\n(14)\n\n​\n\n02/01/28\n\n​\n\nUnsecured Notes - 36B\n\n \n\n2.20\n\n%  \n\n​\n\n​\n\n​\n\n700,000\n\n​\n\n​\n\n \n\n15,400\n\n(14)\n\n​\n\n02/01/31\n\n​\n\nUnsecured Notes - 37A\n\n \n\n1.38\n\n%  \n\n​\n\n​\n\n​\n\n550,000\n\n​\n\n​\n\n \n\n7,563\n\n(14)\n\n​\n\n01/15/27\n\n​\n\nUnsecured Notes - 37B\n\n \n\n2.25\n\n%  \n\n​\n\n​\n\n​\n\n700,000\n\n​\n\n​\n\n \n\n15,750\n\n(14)\n\n​\n\n01/15/32\n\n​\n\nUnsecured Notes - 38B\n\n \n\n2.65\n\n%  \n\n​\n\n​\n\n​\n\n700,000\n\n​\n\n​\n\n \n\n18,550\n\n(14)\n\n​\n\n02/01/32\n\n​\n\nUnsecured Notes - 39A\n\n \n\n5.50\n\n%  \n\n​\n\n​\n\n​\n\n650,000\n\n​\n\n​\n\n \n\n35,750\n\n(14)\n\n​\n\n03/08/33\n\n​\n\nUnsecured Notes - 39B\n\n \n\n5.85\n\n%  \n\n​\n\n​\n\n​\n\n650,000\n\n​\n\n​\n\n \n\n38,025\n\n(14)\n\n​\n\n03/08/53\n\n​\n\nUnsecured Notes - 40A\n\n​\n\n6.25\n\n%  \n\n​\n\n​\n\n​\n\n500,000\n\n​\n\n​\n\n​\n\n31,250\n\n(14)\n\n​\n\n01/15/34\n\n​\n\nUnsecured Notes - 40B\n\n​\n\n6.65\n\n%  \n\n​\n\n​\n\n​\n\n500,000\n\n​\n\n​\n\n​\n\n33,250\n\n(14)\n\n​\n\n01/15/54\n\n​\n\nUnsecured Notes - 41A\n\n​\n\n4.75\n\n%  \n\n​\n\n​\n\n​\n\n1,000,000\n\n​\n\n​\n\n​\n\n47,500\n\n(14)\n\n​\n\n09/26/34\n\n​\n\nUnsecured Notes - 42 A\n\n​\n\n4.38\n\n%  \n\n​\n\n​\n\n​\n\n700,000\n\n​\n\n​\n\n​\n\n30,625\n\n(14)\n\n​\n\n10/01/30\n\n​\n\nUnsecured Notes - 42 B\n\n​\n\n5.13\n\n%  \n\n​\n\n​\n\n​\n\n800,000\n\n​\n\n​\n\n​\n\n41,000\n\n(14)\n\n​\n\n10/01/35\n\n​\n\nUnsecured Notes - Euro 4\n\n​\n\n1.13\n\n%  \n\n​\n\n​\n\n​\n\n880,516\n\n(13)\n\n​\n\n​\n\n9,906\n\n(6)\n\n​\n\n03/19/33\n\n​\n\nUnsecured Bonds - Exchangable Euro 5\n\n​\n\n3.50\n\n%  \n\n(41)\n\n​\n\n​\n\n862,436\n\n(10)\n\n​\n\n​\n\n30,185\n\n(14)\n\n​\n\n11/14/26\n\n​\n\nEuro Term Loan - 1\n\n \n\n2.60\n\n%  \n\n(27)\n\n​\n\n​\n\n410,908\n\n(40)\n\n​\n\n \n\n10,669\n\n(2)\n\n​\n\n03/20/27\n\n​\n\n49\n\n[Table of Contents](#Toc)\n\n**Mortgage and Unsecured Debt**\n\n**As of December 31, 2025**\n\n**(Dollars in thousands)**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**Interest**\n\n​\n\n**Face**\n\n​\n\n**Annual Debt**\n\n​\n\n**Maturity**\n\n​\n\n**Property Name**\n\n  ​ ​ ​\n\n**Rate**\n\n  ​ ​ ​\n\n**Amount**\n\n  ​ ​ ​\n\n**Service (1)**\n\n  ​ ​ ​\n\n**Date**\n\n​\n\n**Total Consolidated Unsecured Indebtedness**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n$\n\n20,368,860\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**Total Consolidated Indebtedness at Face Amounts**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n$\n\n28,595,539\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\nPremium on Indebtedness\n\n​\n\n​\n\n​\n\n​\n\n​\n\n \n\n1,065\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\nDiscount on Indebtedness\n\n​\n\n​\n\n​\n\n​\n\n​\n\n \n\n(73,175)\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\nDebt Issuance Costs\n\n​\n\n​\n\n​\n\n​\n\n​\n\n \n\n(117,853)\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\nOther Debt Obligations\n\n​\n\n​\n\n​\n\n​\n\n​\n\n \n\n24,599\n\n(18)\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**Total Consolidated Indebtedness**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n$\n\n28,430,175\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**Our Share of Consolidated Indebtedness**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n$\n\n27,920,880\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**Joint Venture Indebtedness:**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**Secured Indebtedness:**\n\n \n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\nArundel Mills\n\n \n\n7.70\n\n%  \n\n​\n\n​\n\n$\n\n360,000\n\n​\n\n​\n\n$\n\n27,724\n\n(2)\n\n​\n\n11/01/33\n\n​\n\nAshford Designer Outlet\n\n \n\n4.80\n\n%  \n\n(35)\n\n​\n\n \n\n139,271\n\n(21)\n\n​\n\n \n\n6,411\n\n(2)\n\n​\n\n05/23/27\n\n​\n\nAventura Mall -1\n\n \n\n4.12\n\n%  \n\n​\n\n​\n\n \n\n1,750,000\n\n​\n\n​\n\n \n\n72,122\n\n(2)\n\n​\n\n07/01/28\n\n​\n\nAventura Mall -2\n\n \n\n5.79\n\n%  \n\n(1)\n\n​\n\n​\n\n86,500\n\n​\n\n​\n\n​\n\n5,006\n\n(2)\n\n​\n\n11/25/30\n\n(3)\n\nAvenues, The\n\n \n\n3.60\n\n%  \n\n​\n\n​\n\n \n\n100,000\n\n​\n\n​\n\n \n\n3,600\n\n(2)\n\n​\n\n02/06/26\n\n​\n\nBusan Premium Outlets\n\n \n\n3.64\n\n%  \n\n​\n\n​\n\n \n\n132,960\n\n(17)\n\n​\n\n \n\n4,836\n\n(2)\n\n​\n\n04/28/28\n\n​\n\nCape Cod Mall\n\n \n\n6.46\n\n%  \n\n​\n\n​\n\n​\n\n54,000\n\n​\n\n​\n\n​\n\n3,486\n\n(2)\n\n​\n\n06/01/35\n\n​\n\nCharlotte Premium Outlets\n\n​\n\n4.27\n\n%  \n\n​\n\n​\n\n​\n\n95,814\n\n​\n\n​\n\n​\n\n5,953\n\n​\n\n​\n\n07/01/28\n\n​\n\nCityOn Xian\n\n​\n\n3.60\n\n%  \n\n​\n\n​\n\n​\n\n76,747\n\n(43)\n\n​\n\n​\n\n25,131\n\n​\n\n​\n\n03/14/29\n\n​\n\nCityOn Zhengzhou\n\n​\n\n3.85\n\n%  \n\n​\n\n​\n\n​\n\n104,827\n\n(43)\n\n​\n\n​\n\n4,059\n\n​\n\n​\n\n03/22/32\n\n​\n\nClarksburg Premium Outlets\n\n​\n\n3.95\n\n%  \n\n​\n\n​\n\n​\n\n151,387\n\n​\n\n​\n\n​\n\n9,169\n\n​\n\n​\n\n01/01/28\n\n​\n\nCoconut Point\n\n​\n\n3.95\n\n%  \n\n​\n\n​\n\n​\n\n163,459\n\n​\n\n​\n\n​\n\n10,643\n\n​\n\n​\n\n10/01/26\n\n​\n\nColorado Mills - 1\n\n​\n\n4.28\n\n%  \n\n​\n\n​\n\n​\n\n99,243\n\n​\n\n​\n\n​\n\n15,699\n\n​\n\n​\n\n11/01/26\n\n​\n\nColorado Mills - 2\n\n​\n\n2.80\n\n%  \n\n​\n\n​\n\n​\n\n30,000\n\n​\n\n​\n\n​\n\n840\n\n(2)\n\n​\n\n07/01/31\n\n​\n\nConcord Mills\n\n​\n\n6.55\n\n%  \n\n​\n\n​\n\n​\n\n227,137\n\n​\n\n​\n\n​\n\n17,796\n\n​\n\n​\n\n11/01/32\n\n​\n\nCoral Square Residential\n\n​\n\n5.74\n\n%  \n\n(1)\n\n​\n\n​\n\n37,150\n\n​\n\n​\n\n​\n\n3,371\n\n​\n\n​\n\n04/04/28\n\n(3)\n\nDadeland Mall\n\n​\n\n3.11\n\n%  \n\n​\n\n​\n\n​\n\n352,638\n\n​\n\n​\n\n​\n\n19,879\n\n​\n\n​\n\n01/05/27\n\n​\n\nDadeland Mall Hotel\n\n \n\n6.19\n\n%  \n\n(1)\n\n​\n\n \n\n30,000\n\n​\n\n​\n\n \n\n1,856\n\n(2)\n\n​\n\n12/30/30\n\n​\n\nDel Amo Fashion Center\n\n \n\n3.66\n\n%  \n\n​\n\n​\n\n \n\n585,000\n\n​\n\n​\n\n \n\n21,396\n\n(2)\n\n​\n\n06/01/27\n\n​\n\nDomain Westin\n\n \n\n5.69\n\n%  \n\n(1)\n\n​\n\n​\n\n60,006\n\n​\n\n​\n\n​\n\n3,413\n\n(2)\n\n​\n\n08/28/32\n\n(3)\n\nDover Mall\n\n \n\n5.57\n\n%  \n\n​\n\n​\n\n \n\n76,292\n\n​\n\n​\n\n \n\n4,250\n\n(2)\n\n​\n\n08/06/26\n\n​\n\nFalls, The\n\n \n\n3.45\n\n%  \n\n​\n\n​\n\n \n\n150,000\n\n​\n\n​\n\n \n\n5,175\n\n(2)\n\n​\n\n09/01/26\n\n​\n\nFashion Centre Pentagon\n\n​\n\n6.74\n\n%  \n\n(38)\n\n​\n\n​\n\n455,000\n\n​\n\n​\n\n​\n\n30,672\n\n(2)\n\n​\n\n05/09/26\n\n​\n\nFashion Valley\n\n \n\n5.73\n\n%  \n\n​\n\n​\n\n \n\n450,000\n\n​\n\n​\n\n \n\n25,785\n\n(2)\n\n​\n\n06/01/33\n\n​\n\nFlorida Mall, The\n\n \n\n5.99\n\n%  \n\n(36)\n\n​\n\n \n\n600,000\n\n​\n\n​\n\n \n\n35,925\n\n(2)\n\n​\n\n02/09/27\n\n(3)\n\nFukaya-Hanazono Premium Outlets\n\n \n\n0.70\n\n%  \n\n​\n\n​\n\n \n\n68,304\n\n(26)\n\n​\n\n \n\n479\n\n(2)\n\n​\n\n10/01/32\n\n​\n\nGalleria, The\n\n \n\n5.65\n\n%  \n\n​\n\n​\n\n \n\n1,200,000\n\n​\n\n​\n\n \n\n67,809\n\n(2)\n\n​\n\n02/01/35\n\n​\n\nGardens Mall, The\n\n​\n\n5.63\n\n%  \n\n​\n\n​\n\n​\n\n205,000\n\n​\n\n​\n\n​\n\n11,542\n\n(2)\n\n​\n\n07/15/28\n\n​\n\n50\n\n[Table of Contents](#Toc)\n\n**Mortgage and Unsecured Debt**\n\n**As of December 31, 2025**\n\n**(Dollars in thousands)**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**Interest**\n\n​\n\n**Face**\n\n​\n\n**Annual Debt**\n\n​\n\n**Maturity**\n\n​\n\n**Property Name**\n\n  ​ ​ ​\n\n**Rate**\n\n  ​ ​ ​\n\n**Amount**\n\n  ​ ​ ​\n\n**Service (1)**\n\n  ​ ​ ​\n\n**Date**\n\n​\n\nGotemba Premium Outlets\n\n​\n\n0.31\n\n%  \n\n​\n\n​\n\n$\n\n82,985\n\n(26)\n\n​\n\n$\n\n256\n\n(2)\n\n​\n\n05/31/27\n\n​\n\nGrapevine Mills\n\n​\n\n6.26\n\n%  \n\n​\n\n​\n\n​\n\n250,000\n\n​\n\n​\n\n​\n\n15,660\n\n(2)\n\n​\n\n07/01/34\n\n​\n\nHamilton Town Center\n\n​\n\n5.84\n\n%  \n\n(1)\n\n​\n\n​\n\n92,663\n\n​\n\n​\n\n​\n\n6,526\n\n​\n\n​\n\n02/24/30\n\n(3)\n\nInternational Plaza\n\n​\n\n5.04\n\n%  \n\n​\n\n​\n\n​\n\n575,000\n\n​\n\n​\n\n​\n\n28,980\n\n(2)\n\n​\n\n11/01/30\n\n​\n\nJakarta Premium Outlet\n\n​\n\n9.25\n\n%  \n\n​\n\n​\n\n​\n\n45,619\n\n​\n\n​\n\n​\n\n5,129\n\n​\n\n​\n\n12/29/33\n\n(3)\n\nJohor Premium Outlet\n\n​\n\n5.13\n\n%  \n\n(7)\n\n​\n\n​\n\n2,249\n\n(9)\n\n​\n\n​\n\n115\n\n(2)\n\n​\n\n09/30/31\n\n​\n\nKaty Mills\n\n​\n\n5.77\n\n%  \n\n​\n\n​\n\n​\n\n124,453\n\n​\n\n​\n\n​\n\n9,071\n\n​\n\n​\n\n08/01/32\n\n​\n\nLakeline Residential\n\n​\n\n6.69\n\n%  \n\n(1)\n\n​\n\n​\n\n28,617\n\n​\n\n​\n\n​\n\n1,914\n\n(2)\n\n​\n\n01/16/29\n\n(3)\n\nLehigh Valley Mall\n\n​\n\n4.06\n\n%  \n\n​\n\n​\n\n​\n\n168,348\n\n​\n\n​\n\n​\n\n11,545\n\n​\n\n​\n\n11/01/27\n\n​\n\nLiberty Tree Mall\n\n​\n\n6.18\n\n%  \n\n(27)\n\n​\n\n​\n\n27,644\n\n​\n\n​\n\n​\n\n2,077\n\n​\n\n​\n\n05/03/28\n\n​\n\nMalaga Designer Outlet\n\n​\n\n4.28\n\n%  \n\n(22)\n\n​\n\n​\n\n74,551\n\n(30)\n\n​\n\n​\n\n3,188\n\n(2)\n\n​\n\n05/05/28\n\n(3)\n\nMall at Rockingham Park, The\n\n​\n\n4.04\n\n%  \n\n​\n\n​\n\n​\n\n262,000\n\n​\n\n​\n\n​\n\n10,585\n\n(2)\n\n​\n\n06/01/26\n\n​\n\nMall at Millenia, The\n\n​\n\n5.41\n\n%  \n\n​\n\n​\n\n​\n\n450,000\n\n​\n\n​\n\n​\n\n24,345\n\n(2)\n\n​\n\n10/15/29\n\n​\n\nMall of New Hampshire, The\n\n​\n\n4.11\n\n%  \n\n​\n\n​\n\n​\n\n150,000\n\n​\n\n​\n\n​\n\n6,162\n\n(2)\n\n​\n\n07/01/28\n\n(3)\n\nMall at University Town Center, The\n\n​\n\n3.40\n\n%  \n\n​\n\n​\n\n​\n\n263,030\n\n​\n\n​\n\n​\n\n14,826\n\n​\n\n​\n\n11/01/26\n\n​\n\nMeadowood Mall\n\n​\n\n5.70\n\n%  \n\n​\n\n​\n\n​\n\n99,140\n\n​\n\n​\n\n​\n\n8,028\n\n​\n\n​\n\n12/01/26\n\n​\n\nNorfolk Premium Outlets\n\n​\n\n4.50\n\n%  \n\n​\n\n​\n\n​\n\n73,039\n\n​\n\n​\n\n​\n\n4,541\n\n​\n\n​\n\n04/01/32\n\n​\n\nNorthshore Mall\n\n​\n\n6.36\n\n%  \n\n​\n\n​\n\n​\n\n175,000\n\n​\n\n​\n\n​\n\n11,121\n\n(2)\n\n​\n\n01/01/31\n\n​\n\nPaju Premium Outlets\n\n​\n\n3.75\n\n%  \n\n​\n\n​\n\n​\n\n38,087\n\n(17)\n\n​\n\n​\n\n25,667\n\n​\n\n​\n\n03/13/27\n\n​\n\nPremium Outlet Collection Edmonton IA\n\n \n\n3.85\n\n%  \n\n(37)\n\n​\n\n \n\n99,561\n\n(5)\n\n​\n\n \n\n3,827\n\n(2)\n\n​\n\n11/30/27\n\n(3)\n\nPremium Outlets Montréal\n\n​\n\n4.69\n\n%  \n\n​\n\n​\n\n​\n\n87,539\n\n(5)\n\n​\n\n​\n\n4,487\n\n​\n\n​\n\n09/01/31\n\n​\n\nQuaker Bridge Mall\n\n \n\n4.50\n\n%  \n\n​\n\n​\n\n \n\n180,000\n\n​\n\n​\n\n \n\n8,100\n\n(2)\n\n​\n\n05/01/26\n\n​\n\nQueretaro Premium Outlets\n\n \n\n11.03\n\n%  \n\n​\n\n​\n\n​\n\n19,921\n\n(32)\n\n​\n\n​\n\n4,782\n\n​\n\n​\n\n12/20/33\n\n​\n\nRinku Premium Outlets\n\n \n\n0.30\n\n%  \n\n​\n\n​\n\n \n\n37,663\n\n(26)\n\n​\n\n \n\n114\n\n(2)\n\n​\n\n07/31/27\n\n​\n\nRoermond 4 Designer Outlet\n\n \n\n4.02\n\n%  \n\n(23)\n\n​\n\n​\n\n234,804\n\n(30)\n\n​\n\n​\n\n9,433\n\n(2)\n\n​\n\n08/18/30\n\n​\n\nRoosevelt Field Hotel\n\n \n\n6.54\n\n%  \n\n(34)\n\n​\n\n \n\n48,800\n\n​\n\n​\n\n \n\n3,700\n\n​\n\n​\n\n06/29/27\n\n(3)\n\nRound Rock Residential\n\n \n\n5.94\n\n%  \n\n​\n\n​\n\n \n\n31,713\n\n​\n\n​\n\n \n\n1,884\n\n(2)\n\n​\n\n07/01/29\n\n​\n\nSano Premium Outlets\n\n \n\n1.28\n\n%  \n\n​\n\n​\n\n \n\n29,046\n\n(26)\n\n​\n\n \n\n372\n\n(2)\n\n​\n\n02/29/28\n\n​\n\nShisui Premium Outlets Phase 2\n\n \n\n0.68\n\n%  \n\n​\n\n​\n\n \n\n5,107\n\n(26)\n\n​\n\n \n\n35\n\n(2)\n\n​\n\n05/31/29\n\n​\n\nShisui Premium Outlets Phase 3\n\n \n\n1.03\n\n%  \n\n​\n\n​\n\n​\n\n16,596\n\n(26)\n\n​\n\n​\n\n171\n\n(2)\n\n​\n\n11/30/28\n\n​\n\nShops at Clearfork, The - 1\n\n \n\n2.92\n\n%  \n\n(27)\n\n​\n\n \n\n145,000\n\n​\n\n​\n\n \n\n4,238\n\n(2)\n\n​\n\n03/11/30\n\n​\n\nShops at Clearfork, The - 2\n\n \n\n6.80\n\n%  \n\n(1)\n\n​\n\n​\n\n2,250\n\n​\n\n​\n\n​\n\n153\n\n(2)\n\n​\n\n03/11/30\n\n​\n\nShops at Crystals, The\n\n \n\n3.74\n\n%  \n\n​\n\n​\n\n \n\n550,000\n\n​\n\n​\n\n \n\n20,592\n\n(2)\n\n​\n\n07/01/26\n\n​\n\nShops at Mission Viejo, The\n\n \n\n6.73\n\n%  \n\n​\n\n​\n\n \n\n180,000\n\n​\n\n​\n\n \n\n12,105\n\n(2)\n\n​\n\n01/01/35\n\n​\n\nSiam Premium Outlets Bangkok\n\n \n\n4.69\n\n%  \n\n​\n\n​\n\n​\n\n58,500\n\n(11)\n\n​\n\n​\n\n2,744\n\n(2)\n\n​\n\n06/05/31\n\n​\n\nSiheung Premium Outlets\n\n \n\n4.38\n\n%  \n\n​\n\n​\n\n \n\n96,952\n\n(17)\n\n​\n\n \n\n4,246\n\n(2)\n\n​\n\n03/15/26\n\n​\n\nSilver Sands Premium Outlets\n\n \n\n3.96\n\n%  \n\n​\n\n​\n\n​\n\n140,000\n\n​\n\n​\n\n​\n\n5,543\n\n(2)\n\n​\n\n03/01/32\n\n​\n\nSouthdale Hotel\n\n​\n\n6.04\n\n%  \n\n(1)\n\n​\n\n \n\n15,155\n\n​\n\n​\n\n \n\n1,118\n\n​\n\n​\n\n06/01/28\n\n​\n\nSouthdale Residential\n\n \n\n4.46\n\n%  \n\n​\n\n​\n\n \n\n33,348\n\n​\n\n​\n\n \n\n2,551\n\n​\n\n​\n\n10/15/35\n\n​\n\n51\n\n[Table of Contents](#Toc)\n\n**Mortgage and Unsecured Debt**\n\n**As of December 31, 2025**\n\n**(Dollars in thousands)**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**Interest**\n\n​\n\n**Face**\n\n​\n\n**Annual Debt**\n\n​\n\n**Maturity**\n\n​\n\n**Property Name**\n\n  ​ ​ ​\n\n**Rate**\n\n  ​ ​ ​\n\n**Amount**\n\n  ​ ​ ​\n\n**Service (1)**\n\n  ​ ​ ​\n\n**Date**\n\n​\n\nSpringfield Mall\n\n​\n\n4.45\n\n%  \n\n​\n\n​\n\n$\n\n52,465\n\n​\n\n​\n\n$\n\n2,334\n\n(2)\n\n​\n\n10/06/25\n\n(8)\n\nSquare One Mall\n\n \n\n5.47\n\n%  \n\n​\n\n​\n\n \n\n76,187\n\n​\n\n​\n\n \n\n4,170\n\n(2)\n\n​\n\n01/06/27\n\n​\n\nStarfield Anseong\n\n \n\n3.75\n\n%  \n\n​\n\n​\n\n \n\n237,748\n\n(17)\n\n​\n\n \n\n8,916\n\n(2)\n\n​\n\n02/28/28\n\n​\n\nStarfield Hanam\n\n \n\n3.72\n\n%  \n\n​\n\n​\n\n \n\n468,702\n\n(17)\n\n​\n\n \n\n17,436\n\n(2)\n\n​\n\n07/28/30\n\n​\n\nSt. Johns Town Center\n\n \n\n5.95\n\n%  \n\n​\n\n​\n\n \n\n360,000\n\n​\n\n​\n\n \n\n21,413\n\n(2)\n\n​\n\n06/01/34\n\n​\n\nSt. Johns Hotel\n\n \n\n5.88\n\n%  \n\n​\n\n​\n\n \n\n25,500\n\n​\n\n​\n\n \n\n1,499\n\n(2)\n\n​\n\n10/30/30\n\n​\n\nSt. Louis Premium Outlets\n\n \n\n4.06\n\n%  \n\n​\n\n​\n\n \n\n81,887\n\n​\n\n​\n\n \n\n5,387\n\n​\n\n​\n\n10/06/27\n\n​\n\nStoneridge Shopping Center\n\n \n\n3.50\n\n%  \n\n​\n\n​\n\n \n\n330,000\n\n​\n\n​\n\n \n\n11,550\n\n(2)\n\n​\n\n09/05/26\n\n​\n\nSugarloaf Mills\n\n \n\n8.02\n\n%  \n\n​\n\n​\n\n \n\n63,882\n\n​\n\n​\n\n \n\n6,617\n\n​\n\n​\n\n05/01/29\n\n​\n\nTanger Outlets Columbus\n\n \n\n6.25\n\n%  \n\n​\n\n​\n\n \n\n71,000\n\n​\n\n​\n\n \n\n4,439\n\n(2)\n\n​\n\n10/01/32\n\n​\n\nTanger Outlets - Galveston/Houston\n\n \n\n5.06\n\n%  \n\n(12)\n\n​\n\n \n\n60,000\n\n​\n\n​\n\n \n\n3,035\n\n(2)\n\n​\n\n06/26/30\n\n​\n\nTosu Premium Outlets\n\n \n\n0.97\n\n%  \n\n​\n\n​\n\n \n\n39,578\n\n(26)\n\n​\n\n \n\n385\n\n(2)\n\n​\n\n10/31/26\n\n​\n\nTwin Cities Premium Outlets\n\n​\n\n6.70\n\n%  \n\n​\n\n​\n\n​\n\n95,000\n\n​\n\n​\n\n​\n\n6,361\n\n(2)\n\n​\n\n11/01/34\n\n​\n\nVancouver Designer Outlet\n\n \n\n5.97\n\n%  \n\n(39)\n\n​\n\n \n\n120,366\n\n(5)\n\n​\n\n \n\n6,141\n\n(2)\n\n​\n\n12/01/27\n\n(3)\n\nWaterside Shops\n\n \n\n3.86\n\n%  \n\n​\n\n​\n\n \n\n154,337\n\n​\n\n​\n\n \n\n5,957\n\n(2)\n\n​\n\n04/15/26\n\n​\n\nWestfarms\n\n \n\n7.80\n\n%  \n\n​\n\n​\n\n \n\n242,000\n\n​\n\n​\n\n \n\n18,864\n\n(2)\n\n​\n\n09/06/28\n\n​\n\nWest Midlands Designer Outlets\n\n \n\n7.49\n\n%  \n\n(28)\n\n​\n\n \n\n87,464\n\n(21)\n\n​\n\n \n\n6,551\n\n(2)\n\n​\n\n06/06/26\n\n​\n\nWestchester, The\n\n \n\n3.25\n\n%  \n\n​\n\n​\n\n \n\n400,000\n\n​\n\n​\n\n \n\n13,000\n\n(2)\n\n​\n\n02/01/30\n\n​\n\nWoodfield Mall\n\n \n\n6.71\n\n%  \n\n​\n\n​\n\n \n\n294,000\n\n​\n\n​\n\n \n\n19,730\n\n(2)\n\n​\n\n12/01/33\n\n​\n\nYeoju Premium Outlets\n\n \n\n3.85\n\n%  \n\n​\n\n​\n\n \n\n38,089\n\n(17)\n\n​\n\n \n\n1,468\n\n(2)\n\n​\n\n09/28/27\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**Total Joint Venture Secured Indebtedness at Face Amount**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n$\n\n16,133,320\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\nTMLP Indebtedness at Face Amount\n\n​\n\n​\n\n​\n\n​\n\n​\n\n \n\n258,980\n\n(29)\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\nTotal Joint Venture and TMLP Indebtedness at Face Amount\n\n​\n\n​\n\n​\n\n​\n\n​\n\n \n\n16,392,300\n\n \n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\nDebt Issuance Costs\n\n​\n\n​\n\n​\n\n​\n\n​\n\n \n\n(41,527)\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\nOther Debt Obligations and Other\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n24,000\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**Total Joint Venture Indebtedness**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n$\n\n16,374,773\n\n \n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**Our Share of Joint Venture Indebtedness**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n$\n\n7,513,924\n\n(31)\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n52\n\n[Table of Contents](#Toc)\n\n**Mortgage and Unsecured Debt**\n\n**As of December 31, 2025**\n\n**(Dollars in thousands)**\n\n​\n\n(1)Variable rate loans based on one-month (1M) SOFR plus interest rate spreads ranging from 110 bps to 310 bps. As of December 31, 2025, 1M SOFR was 3.6875%.Requires monthly payment of interest only.\n\n(2)Requires monthly payment of interest only.\n\n(3)Includes applicable extension available at the Applicable Borrower's option.\n\n(4)Reflects the weighted average maturity date and weighted average interest rate of all outstanding tranches of commercial paper at December 31, 2025.\n\n(5)Amount shown in USD equivalent. CAD Equivalent is 421.5 million.\n\n(6)Requires annual payment of interest only.\n\n(7)Variable rate loans based on Cost of Fund plus an interest rate spread of 150 bps. As of December 31, 2025, Cost of Fund was 3.63%.\n\n(8)Mortgage is outstanding as of 12/31/2025.\n\n(9)Amount shown in USD Equivalent.  Ringgit equivalent is 9.1 million.\n\n(10)Amount shown in USD equivalent.  Euro equivalent is 734.6 million.\n\n(11)Amount shown in USD equivalent.  Baht equivalent is 1.8 billion.\n\n(12)Variable rate loan based on 1M SOFR plus an interest rate spread of 165 bps.  Through an interest rate swap agreement, 1M SOFR is currently fixed at 3.41%.\n\n(13)Amount shown in USD equivalent.  Euro equivalent is 750.0 million.\n\n(14)Requires semi-annual payments of interest only.\n\n(15)Credit Facility.  As of December 31, 2025, the Credit Facility bears interest at a SOFR index subject to a 8 bps adjustment plus 70.0 bps credit spread. The credit facility provides for different pricing based upon our investment grade rating.  Through an interest rate swap agreement, the SOFR index is currently fixed at 3.325%. As of December 31, 2025, $7.7 billion was available after outstanding borrowings and letters of credit under our Credit Facilities.\n\n(16)Variable rate loan based on 1M SOFR plus an interest rate spread of 160 bps.  Through an interest rate cap agreement, 1M SOFR is currently fixed at 5.50%.\n\n(17)Amount shown in USD equivalent.  Won Equivalent is 1.5 trillion.\n\n(18)City of Sunrise Bond Liability (Sawgrass Mills) and purchase accounting adjustments.\n\n(19)Loans secured by these three properties are cross-collateralized and cross-defaulted.\n\n(20)Loans secured by these two properties are cross-collateralized and cross-defaulted.\n\n(21)Amount shown in USD equivalent.  GBP equivalent is 168.5 million.\n\n(22)Variable rate loan based on 3M EURIBOR plus interest rate spread of 225 bps. Through an interest rate cap agreement 3M EURIBOR is capped at 3.50%.\n\n(23)Variable rate loan based on 3M EURIBOR plus interest rate spread of 170 bps. Through an interest rate swap agreement 3M EURIBOR is fixed at 2.318%.\n\n(24)Variable rate loan based on 3M EURIBOR plus an interest rate spread of 240 bps. Through an interest rate swap agreement, 3M EURIBOR is currently fixed at 3.00%.\n\n(25)Variable rate loan based on 3M EURIBOR plus an interest rate spread of 250bps.  Through an interest rate swap agreement, 3M Euribor is currently fixed at 1.7495% on a portion of the balance. As of December 31, 2025, 3M EURIBOR was 2.026%.\n\n(26)Amount shown in USD Equivalent.  Yen equivalent is 43.8 billion.\n\n(27)Associated with this loan is an interest rate swap agreement that effectively fixes the interest rate on this loan at the all-in rate presented.\n\n53\n\n[Table of Contents](#Toc)\n\n**Mortgage and Unsecured Debt**\n\n**As of December 31, 2025**\n\n**(Dollars in thousands)**\n\n(28)Variable rate loan based on Overnight SONIA plus an interest rate spread of 250bps.  Through an interest rate swap agreement, Overnight SONIA is fixed at 4.992%.\n\n(29)Consists of one property with an interest rate of 5.65% and maturity in 2025.  The mortgage was outstanding as of December 31, 2025.\n\n(30)Amount shown in USD equivalent.  Euro equivalent is 1.4 billion.\n\n(31)Our share of total indebtedness includes a pro rata share of the mortgage debt on joint venture properties, including The Mills Limited Partnership.  To the extent total indebtedness is secured by a property, it is non-recourse to us, with the exception of approximately $118.8 million of payment guarantees provided by the Operating Partnership.\n\n(32)Amount shown in USD equivalent. Peso equivalent is 358.5 million.\n\n(33)Variable rate loan based on 3M EURIBOR plus an interest rate spread of 200bps.  Through an interest rate cap agreement, 3M Euribor is currently fixed at 2.00%.\n\n(34)Variable rate loan based on 30 day Average SOFR plus an interest rate spread of 275 bps.  As of December 31, 2025, 30 day Average SOFR was 3.7866%.\n\n(35)Variable rate loan based on Overnight SONIA plus an interest rate spread of 215bps.  Through an interest rate swap agreement, Overnight SONIA is fixed at 2.14% for a portion of the balance.  As of December 31, 2025, Overnight SONIA was 3.726%.\n\n(36)Variable rate loan based on 1M SOFR plus an interest rate spread of 230 bps.  Through an interest rate cap agreement, 1M SOFR is currently fixed at 4.00%.\n\n(37)Variable rate loan based on one-month CAD-CORRA plus an interest rate spread of 159 bps.  As of December 31, 2025, CAD-CORRA was 2.30%.\n\n(38)Variable rate loan based on 1M SOFR plus an interest rate spread of 305 bps.  Through an interest rate cap agreement, 1M SOFR is currently fixed at 3.89%.\n\n(39)Variable rate loan based on one-month CAD-CORRA plus an interest rate spread of 215 bps.  Through an interest rate swap agreement, CAD-CORRA is currently fixed at 3.67% on a portion of the balance. As of December 31, 2025, CAD-CORRA was 2.30%.\n\n(40)Amount shown in USD equivalent.  Euro equivalent is 350.0 million.\n\n(41)Notes exchangeable into ordinary shares of Klépierre S.A. at a common price of €27.0693.\n\n(42)Variable rate loan based on 3M EURIBOR plus an interest rate spread of 270bps.  Through an interest rate cap agreement, 3M Euribor is currently fixed at 1.75%.\n\n(43)Amounts shown in USD Equivalent.  CNY Equivalent is 1.3 billion.\n\n(44)Variable rate loan based on 1M Term SOFR plus an interest rate spread of 163bps.  Through interest rate swap agreements, 1M Term SOFR is currently fixed at 3.716%.\n\n54\n\n[Table of Contents](#Toc)\n\n**Mortgage and Unsecured Debt**\n\n**As of December 31, 2025**\n\n**(Dollars in thousands)**\n\nThe changes in consolidated mortgages and unsecured indebtedness for the years ended December 31, 2025, 2024 and 2023 are as follows:\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**  ​ ​ ​**\n\n**2025**\n\n**  ​ ​ ​**\n\n**2024**\n\n**  ​ ​ ​**\n\n**2023**\n\n** **\n\nBalance, Beginning of Year\n\n​\n\n**$**\n\n**24,264,495**\n\n​\n\n$\n\n26,033,423\n\n​\n\n$\n\n24,960,286\n\n​\n\nAdditions during period:\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\nNew Loan Originations\n\n​\n\n** **\n\n**3,665,036**\n\n​\n\n \n\n1,089,989\n\n​\n\n \n\n3,610,389\n\n​\n\nLoans assumed in acquisitions and consolidation\n\n​\n\n** **\n\n**3,344,979**\n\n​\n\n \n\n318,750\n\n​\n\n \n\n—\n\n​\n\nNet (Discount)/Premium\n\n​\n\n** **\n\n**(6,674)**\n\n​\n\n \n\n(6,910)\n\n​\n\n \n\n(43,438)\n\n​\n\nNet Debt Issuance Costs\n\n​\n\n​\n\n**(18,882)**\n\n​\n\n​\n\n(23,298)\n\n​\n\n​\n\n(60,891)\n\n​\n\nDeductions during period:\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\nLoan Retirements\n\n​\n\n** **\n\n**(3,282,812)**\n\n​\n\n \n\n(2,960,208)\n\n​\n\n \n\n(2,559,276)\n\n​\n\nAmortization of Net Discounts/(Premiums)\n\n​\n\n** **\n\n**8,961**\n\n​\n\n \n\n5,827\n\n​\n\n \n\n432\n\n​\n\nDebt Issuance Cost Amortization\n\n​\n\n​\n\n**32,291**\n\n​\n\n​\n\n32,477\n\n​\n\n​\n\n28,660\n\n​\n\nScheduled Principal Amortization\n\n​\n\n** **\n\n**(13,797)**\n\n​\n\n \n\n(16,278)\n\n​\n\n \n\n(16,455)\n\n​\n\nOther\n\n​\n\n​\n\n**(34,466)**\n\n​\n\n​\n\n—\n\n​\n\n​\n\n—\n\n​\n\nForeign Currency Translation\n\n​\n\n​\n\n**471,044**\n\n​\n\n​\n\n(209,277)\n\n​\n\n​\n\n113,716\n\n​\n\nBalance, Close of Year\n\n​\n\n**$**\n\n**28,430,175**\n\n​\n\n$\n\n24,264,495\n\n​\n\n$\n\n26,033,423\n\n​\n\n​\n\n​\n\n​\n\n55\n\n[Table of Contents](#Toc)"}