We own the land underlying each Mall in fee simple interest, except for Walnut Square, WestGate Mall, St. Clair Square, , Bonita Lakes Mall, , , and EastGate Mall. We lease all or a portion of the land at each of these Malls subject to long-term ground leases. The following table sets forth certain information for each of the Malls as of December 31, 2014:

Mall Store Year of Sales Percentage Year of Most Total per Mall Opening/ Recent Our Total Mall Store Square Store GLA Anchors & Junior Mall / Location Acquisition Expansion Ownership GLA (1) GLA(2) Foot (3) Leased (4) Anchors (5) TIER 1 Sales > $375 per square foot 1979/2005 2004 100% 991,196 298,933 $ 435 97 % Dillard's, JC Penney, Lafayette, LA Macy's, Sears 1972/1998 2000 100% 974,465 266,561 384 97 % Barnes & Noble, Belk, Asheville, NC Dillard's for Men, Children & Home, Dillard's for Women, H&M, JC Penney, Sears CoolSprings Galleria (6) 1991 1994 50% 1,055,582 417,016 473 97 % Belk, Dillard's, Nashville, TN JC Penney, Macy's, former Sears (7) 1975/2003 2013 100% 1,032,995 297,102 491 100 % Belk, H&M (8), Fayetteville, NC JC Penney, Macy's, Sears 1980/2012 2008 100% 813,111 159,300 476 99 % Barnes & Noble, Minot, ND Carmike Cinema, Herberger's, JC Penney, Scheels, Sears, Sleep Inn & Suites - Splashdown Dakota Super Slides, Target 1971/2001 2014 100% 1,173,744 475,467 544 99 % Dick's Sporting Goods, Lexington, KY Dillard's, H&M, JC Penney, Macy's and 1957/ 2006/ 2014 50% 1,137,632 491,066 450 96 % Barnes & Noble, BB&T, The Shops at Friendly (6) 2007 Belk, Belk Home Store, Greensboro, NC The Grande Cinema, , Macy's, REI, Sears, Whole Foods Governor's Square (6) 1986 1999 47.5% 732,075 242,312 382 98 % Belk, Best Buy, Carmike Clarksville, TN Cinema, Dick's Sporting Goods, Dillard's, JC Penney, Ross, Sears Hamilton Place 1987 1998 90% 1,160,868 333,489 395 98 % Barnes & Noble, Belk Chattanooga, TN for Men, Kids & Home, Belk for Women, Dillard's for Men, Kids & Home, Dillard's for Women, Forever 21, JC Penney, Sears 1978/2001 1999 100% 903,158 250,264 382 96 % Dillard's, H&M (8), Louisville, KY JC Penney, Macy's, Ross, Sears 1970/2012 2002 100% 849,808 234,239 376 93 % Herberger's, Keating Bismarck, ND Furniture, JC Penney, Scheels, Target 1977/2004 1993 100% 1,168,422 383,597 559 96 % Beall's, Cinemark, Laredo, TX Dillard's, Foot Locker, Forever 21, JC Penney, Joe Brand, Macy's, Macy's Home Store, Sears

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