Schedule III Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2012

Schedule III Real Estate and Accumulated Depreciation

Schedule III Real Estate and Accumulated Depreciation

Simon Property Group, Inc. and Subsidiaries Notes to Schedule III as of December 31, 2012 (Dollars in thousands)

SCHEDULE III

Simon Property Group, Inc. and Subsidiaries
Real Estate and Accumulated Depreciation
December 31, 2012
(Dollars in thousands)

								Cost Capitalized Subsequent to Acquisition (3)				Gross Amounts At Which Carried At Close of Period
				Initial Cost (3)
																				Date of Construction or Acquisition
Name	Location	Encumbrances (7)		Land		Buildings and Improvements		Land		Buildings and Improvements		Land		Buildings and Improvements		Total (1)		Accumulated Depreciation (2)
Malls
Anderson Mall	Anderson, SC	$	20,849	$	1,712	$	15,227	$	851	$	20,545	$	2,563	$	35,772	$	38,335	$	16,772	1972
Arsenal Mall	Watertown (Boston), MA		560		14,714		47,680		—		9,483		14,714		57,163		71,877		22,232	1999 (4)
Bangor Mall	Bangor, ME		80,000		5,478		59,740		—		11,158		5,478		70,898		76,376		27,294	2004 (5)
Barton Creek Square	Austin, TX		—		2,903		20,929		7,983		64,481		10,886		85,410		96,296		49,695	1981
Battlefield Mall	Springfield, MO		125,000		3,919		27,231		3,000		62,542		6,919		89,773		96,692		57,633	1970
Bay Park Square	Green Bay, WI		—		6,358		25,623		4,106		26,111		10,464		51,734		62,198		24,863	1980
Bowie Town Center	Bowie (Washington, D.C.), MD		—		2,710		65,044		235		7,170		2,945		72,214		75,159		29,912	2001
Boynton Beach Mall	Boynton Beach (Miami), FL		—		22,240		78,804		4,666		27,431		26,906		106,235		133,141		48,423	1985
Brea Mall	Brea (Los Angeles), CA		—		39,500		209,202		—		27,131		39,500		236,333		275,833		97,144	1998 (4)
Broadway Square	Tyler, TX		—		11,306		32,431		—		23,033		11,306		55,464		66,770		27,424	1994 (4)
Brunswick Square	East Brunswick (New York), NJ		78,189		8,436		55,838		—		32,327		8,436		88,165		96,601		44,428	1973
Burlington Mall	Burlington (Boston), MA		—		46,600		303,618		19,600		95,324		66,200		398,942		465,142		147,321	1998 (4)
Castleton Square	Indianapolis, IN		—		26,250		98,287		7,434		74,644		33,684		172,931		206,615		76,170	1972
Charlottesville Fashion Square	Charlottesville, VA		—		—		54,738		—		18,530		—		73,268		73,268		31,308	1997 (4)
Chautauqua Mall	Lakewood, NY		—		3,116		9,641		—		16,082		3,116		25,723		28,839		13,469	1971
Chesapeake Square	Chesapeake (Virginia Beach), VA		66,502		11,534		70,461		—		19,273		11,534		89,734		101,268		49,251	1989
Cielo Vista Mall	El Paso, TX		—		1,005		15,262		608		48,983		1,613		64,245		65,858		36,779	1974
College Mall	Bloomington, IN		—		1,003		16,245		720		43,966		1,723		60,211		61,934		32,033	1965
Columbia Center	Kennewick, WA		—		17,441		66,580		—		25,705		17,441		92,285		109,726		40,407	1987
Copley Place	Boston, MA		—		—		378,045		—		100,167		—		478,212		478,212		150,522	2002 (4)
Coral Square	Coral Springs (Miami), FL		—		13,556		93,630		—		19,025		13,556		112,655		126,211		64,184	1984
Cordova Mall	Pensacola, FL		—		18,626		73,091		7,321		56,062		25,947		129,153		155,100		45,228	1998 (4)
Cottonwood Mall	Albuquerque, NM		—		10,122		69,958		—		6,704		10,122		76,662		86,784		39,731	1996
Domain, The	Austin, TX		204,405		40,436		197,010		—		138,250		40,436		335,260		375,696		66,311	2005
Edison Mall	Fort Myers, FL		—		11,529		107,350		—		31,240		11,529		138,590		150,119		56,765	1997 (4)
Empire Mall	Sioux Falls, SD		176,300		35,998		192,186		—		3,454		35,998		195,640		231,638		7,443	1998 (5)
Fashion Mall at Keystone, The	Indianapolis, IN		—		—		120,579		29,145		80,161		29,145		200,740		229,885		73,035	1997 (4)
Firewheel Town Center	Garland (Dallas), TX		—		8,485		82,716		—		28,814		8,485		111,530		120,015		34,470	2004
Forest Mall	Fond Du Lac, WI		—		721		4,491		—		8,864		721		13,355		14,076		8,885	1973
Forum Shops at Caesars, The	Las Vegas, NV		—		—		276,567		—		219,010		—		495,577		495,577		174,529	1992
Great Lakes Mall	Mentor (Cleveland), OH		—		12,302		100,362		—		22,491		12,302		122,853		135,155		54,179	1961

SCHEDULE III

Simon Property Group, Inc. and Subsidiaries
Real Estate and Accumulated Depreciation
December 31, 2012
(Dollars in thousands)

								Cost Capitalized Subsequent to Acquisition (3)				Gross Amounts At Which Carried At Close of Period
				Initial Cost (3)
																				Date of Construction or Acquisition
Name	Location	Encumbrances (7)		Land		Buildings and Improvements		Land		Buildings and Improvements		Land		Buildings and Improvements		Total (1)		Accumulated Depreciation (2)
Greenwood Park Mall	Greenwood (Indianapolis), IN		77,549		2,423		23,445		5,253		115,808		7,676		139,253		146,929		59,907	1979
Gulf View Square	Port Richey (Tampa), FL		—		13,690		39,991		1,688		17,882		15,378		57,873		73,251		28,468	1980
Haywood Mall	Greenville, SC		—		11,585		133,893		6		21,633		11,591		155,526		167,117		78,018	1998 (4)
Independence Center	Independence (Kansas City), MO		200,000		5,042		45,798		—		34,528		5,042		80,326		85,368		38,595	1994 (4)
Ingram Park Mall	San Antonio, TX		142,009		733		17,163		73		22,993		806		40,156		40,962		25,147	1979
Irving Mall	Irving (Dallas), TX		—		6,737		17,479		2,533		39,951		9,270		57,430		66,700		35,859	1971
Jefferson Valley Mall	Yorktown Heights (New York), NY		—		4,868		30,304		—		26,948		4,868		57,252		62,120		34,350	1983
King of Prussia — The Court & The Plaza	King of Prussia (Philadelphia), PA		137,022		175,063		1,128,200		—		38,109		175,063		1,166,309		1,341,372		57,957	2003 (5)
Knoxville Center	Knoxville, TN		—		5,006		21,617		3,712		32,740		8,718		54,357		63,075		33,102	1984
La Plaza Mall	McAllen, TX		—		1,375		9,828		6,569		49,809		7,944		59,637		67,581		27,555	1976
Laguna Hills Mall	Laguna Hills (Los Angeles), CA		—		27,928		55,446		—		14,865		27,928		70,311		98,239		30,324	1997 (4)
Lakeline Mall	Cedar Park (Austin), TX		—		10,088		81,568		14		16,465		10,102		98,033		108,135		45,620	1995
Lenox Square	Atlanta, GA		—		38,058		492,411		—		70,361		38,058		562,772		600,830		223,056	1998 (4)
Lima Mall	Lima, OH		—		7,659		35,338		—		13,126		7,659		48,464		56,123		24,387	1965
Lincolnwood Town Center	Lincolnwood (Chicago), IL		—		7,834		63,480		—		7,609		7,834		71,089		78,923		42,987	1990
Lindale Mall	Cedar Rapids, IA		—		14,106		58,286		—		1,213		14,106		59,499		73,605		3,091	1998 (5)
Livingston Mall	Livingston (New York), NJ		—		22,214		105,250		—		43,362		22,214		148,612		170,826		55,154	1998 (4)
Longview Mall	Longview, TX		—		259		3,567		124		8,762		383		12,329		12,712		7,001	1978
Mall at Chestnut Hill, The	Chestnut Hill (Boston), MA		—		449		25,102		—		5,774		449		30,876		31,325		4,400	2002 (5)
Mall of Georgia	Buford (Atlanta), GA		—		47,492		326,633		—		6,563		47,492		333,196		380,688		114,566	1999 (5)
Maplewood Mall	St. Paul (Minneapolis), MN		—		17,119		80,758		—		23,994		17,119		104,752		121,871		34,363	2002 (4)
Markland Mall	Kokomo, IN		—		—		7,568		—		16,355		—		23,923		23,923		12,193	1968
McCain Mall	N. Little Rock, AR		—		—		9,515		10,530		24,179		10,530		33,694		44,224		7,931	1973
Melbourne Square	Melbourne, FL		—		15,762		55,891		4,160		28,565		19,922		84,456		104,378		36,439	1982
Menlo Park Mall	Edison (New York), NJ		—		65,684		223,252		—		42,010		65,684		265,262		330,946		118,948	1997 (4)
Mesa Mall	Grand Junction, CO		87,250		12,784		80,639		—		479		12,784		81,118		93,902		4,330	1998 (5)
Midland Park Mall	Midland, TX		84,664		687		9,213		—		23,098		687		32,311		32,998		17,344	1980
Miller Hill Mall	Duluth, MN		—		2,965		18,092		1,811		30,560		4,776		48,652		53,428		34,316	1973
Montgomery Mall	North Wales (Philadelphia), PA		82,303		27,105		86,915		2,279		38,443		29,384		125,358		154,742		40,300	2004 (5)
Muncie Mall	Muncie, IN		—		172		5,776		52		27,587		224		33,363		33,587		19,415	1970
North East Mall	Hurst (Dallas), TX		—		128		12,966		19,010		150,838		19,138		163,804		182,942		81,628	1971
Northfield Square	Bourbonnais, IL		25,894		362		53,396		—		3,362		362		56,758		57,120		37,771	2004 (5)

SCHEDULE III

Simon Property Group, Inc. and Subsidiaries
Real Estate and Accumulated Depreciation
December 31, 2012
(Dollars in thousands)

								Cost Capitalized Subsequent to Acquisition (3)				Gross Amounts At Which Carried At Close of Period
				Initial Cost (3)
																				Date of Construction or Acquisition
Name	Location	Encumbrances (7)		Land		Buildings and Improvements		Land		Buildings and Improvements		Land		Buildings and Improvements		Total (1)		Accumulated Depreciation (2)
Northgate Mall	Seattle, WA		—		24,369		115,992		—		96,300		24,369		212,292		236,661		82,221	1987
Northlake Mall	Atlanta, GA		—		33,400		98,035		—		3,694		33,400		101,729		135,129		67,719	1998 (4)
Northwoods Mall	Peoria, IL		—		1,185		12,779		2,164		38,570		3,349		51,349		54,698		31,587	1983
Oak Court Mall	Memphis, TN		—		15,673		57,304		—		9,622		15,673		66,926		82,599		33,577	1997 (4)
Ocean County Mall	Toms River (New York), NJ		—		20,404		124,945		—		29,219		20,404		154,164		174,568		62,088	1998 (4)
Orange Park Mall	Orange Park (Jacksonville), FL		—		12,998		65,121		—		41,605		12,998		106,726		119,724		51,597	1994 (4)
Orland Square	Orland Park (Chicago), IL		—		35,514		129,906		—		42,165		35,514		172,071		207,585		71,335	1997 (4)
Oxford Valley Mall	Langhorne (Philadelphia), PA		68,870		24,544		100,287		2,279		10,622		26,823		110,909		137,732		62,695	2003 (4)
Paddock Mall	Ocala, FL		—		11,198		39,727		—		21,179		11,198		60,906		72,104		24,616	1980
Penn Square Mall	Oklahoma City, OK		96,422		2,043		155,958		—		36,779		2,043		192,737		194,780		82,924	2002 (4)
Pheasant Lane Mall	Nashua, NH		—		3,902		155,068		550		43,692		4,452		198,760		203,212		68,554	2004 (5)
Phipps Plaza	Atlanta, GA		—		16,725		210,610		2,225		37,651		18,950		248,261		267,211		99,917	1998 (4)
Plaza Carolina	Carolina (San Juan), PR		180,271		15,493		279,560		—		47,922		15,493		327,482		342,975		87,560	2004 (4)
Port Charlotte Town Center	Port Charlotte, FL		47,074		5,471		58,570		—		15,535		5,471		74,105		79,576		37,559	1989
Prien Lake Mall	Lake Charles, LA		—		1,842		2,813		3,053		40,794		4,895		43,607		48,502		23,019	1972
Richmond Town Square	Richmond Heights (Cleveland), OH		—		2,600		12,112		—		55,979		2,600		68,091		70,691		49,129	1966
River Oaks Center	Calumet City (Chicago), IL		—		30,560		101,224		—		12,187		30,560		113,411		143,971		52,256	1997 (4)
Rockaway Townsquare	Rockaway (New York), NJ		—		41,918		212,257		—		39,672		41,918		251,929		293,847		97,163	1998 (4)
Rolling Oaks Mall	San Antonio, TX		—		1,929		38,609		—		13,768		1,929		52,377		54,306		30,420	1988
Roosevelt Field	Garden City (New York), NY		—		163,160		702,008		48		48,594		163,208		750,602		913,810		300,608	1998 (4)
Ross Park Mall	Pittsburgh, PA		—		23,541		90,203		—		85,760		23,541		175,963		199,504		80,243	1986
Rushmore Mall	Rapid City, SD		94,000		18,839		67,364		—		662		18,839		68,026		86,865		4,410	1998 (5)
Santa Rosa Plaza	Santa Rosa, CA		—		10,400		87,864		—		24,670		10,400		112,534		122,934		42,272	1998 (4)
Shops at Riverside, The	Hackensack (New York), NJ		130,000		13,521		238,746		—		2,629		13,521		241,375		254,896		7,283	2007 (4) (5) (6)
South Hills Village	Pittsburgh, PA		—		23,445		125,840		1,472		43,463		24,917		169,303		194,220		63,938	1997 (4)
South Shore Plaza	Braintree (Boston), MA		—		101,200		301,495		—		156,347		101,200		457,842		559,042		148,427	1998 (4)
Southdale Center	Edina (Minneapolis), MN		152,834		43,154		184,967		—		28,426		43,154		213,393		256,547		5,976	2007 (4) (5) (6)
Southern Hills Mall	Sioux City, IA		101,500		15,025		75,984		—		483		15,025		76,467		91,492		4,204	1998 (5)
Southern Park Mall	Youngstown, OH		—		16,982		77,767		97		26,514		17,079		104,281		121,360		49,986	1970
SouthPark	Charlotte, NC		191,933		42,092		188,055		100		169,654		42,192		357,709		399,901		131,496	2002 (4)
Southridge Mall	Greendale (Milwaukee), WI		124,000		12,284		129,411		2,389		14,879		14,673		144,290		158,963		5,067	2007 (4) (5) (6)

SCHEDULE III

Simon Property Group, Inc. and Subsidiaries
Real Estate and Accumulated Depreciation
December 31, 2012
(Dollars in thousands)

								Cost Capitalized Subsequent to Acquisition (3)				Gross Amounts At Which Carried At Close of Period
				Initial Cost (3)
																				Date of Construction or Acquisition
Name	Location	Encumbrances (7)		Land		Buildings and Improvements		Land		Buildings and Improvements		Land		Buildings and Improvements		Total (1)		Accumulated Depreciation (2)
St. Charles Towne Center	Waldorf (Washington, D.C.), MD		—		7,710		52,934		1,180		30,482		8,890		83,416		92,306		44,345	1990
Stanford Shopping Center	Palo Alto (San Francisco), CA		240,000		—		339,537		—		14,593		—		354,130		354,130		100,075	2003 (4)
Summit Mall	Akron, OH		65,000		15,374		51,137		—		45,290		15,374		96,427		111,801		40,458	1965
Sunland Park Mall	El Paso, TX		29,626		2,896		28,900		—		9,462		2,896		38,362		41,258		24,744	1988
Tacoma Mall	Tacoma (Seattle), WA		—		37,803		125,826		—		83,980		37,803		209,806		247,609		84,581	1987
Tippecanoe Mall	Lafayette, IN		—		2,897		8,439		5,517		46,612		8,414		55,051		63,465		36,266	1973
Town Center at Aurora	Aurora (Denver), CO		—		9,959		56,832		6		57,375		9,965		114,207		124,172		54,298	1998 (4)
Town Center at Boca Raton	Boca Raton (Miami), FL		—		64,200		307,317		—		163,508		64,200		470,825		535,025		183,348	1998 (4)
Town Center at Cobb	Kennesaw (Atlanta), GA		200,000		32,355		158,225		—		17,561		32,355		175,786		208,141		72,445	1998 (5)
Towne East Square	Wichita, KS		—		8,525		18,479		4,108		43,045		12,633		61,524		74,157		36,939	1975
Towne West Square	Wichita, KS		49,998		972		21,203		61		13,061		1,033		34,264		35,297		22,329	1980
Treasure Coast Square	Jensen Beach, FL		—		11,124		72,990		3,067		37,072		14,191		110,062		124,253		51,005	1987
Tyrone Square	St. Petersburg (Tampa), FL		—		15,638		120,962		—		32,185		15,638		153,147		168,785		70,132	1972
University Park Mall	Mishawaka, IN		—		16,768		112,158		7,000		53,686		23,768		165,844		189,612		118,204	1996 (4)
Upper Valley Mall	Springfield, OH		44,060		8,421		38,745		—		10,746		8,421		49,491		57,912		23,549	1979
Valle Vista Mall	Harlingen, TX		40,000		1,398		17,159		329		20,701		1,727		37,860		39,587		22,531	1983
Virginia Center Commons	Glen Allen, VA		—		9,764		50,547		4,149		14,528		13,913		65,075		78,988		27,445	1991
Walt Whitman Shops	Huntington Station (New York), NY		118,262		51,700		111,258		3,789		74,283		55,489		185,541		241,030		74,742	1998 (4)
Washington Square	Indianapolis, IN		25,749		6,319		36,495		—		11,673		6,319		48,168		54,487		45,266	1974
West Ridge Mall	Topeka, KS		65,778		5,453		34,132		1,168		23,810		6,621		57,942		64,563		31,382	1988
Westminster Mall	Westminster (Los Angeles), CA		—		43,464		84,709		—		34,387		43,464		119,096		162,560		47,449	1998 (4)
White Oaks Mall	Springfield, IL		50,000		3,024		35,692		2,102		54,921		5,126		90,613		95,739		35,220	1977
Wolfchase Galleria	Memphis, TN		225,000		15,881		128,276		—		11,197		15,881		139,473		155,354		64,214	2002 (4)
Woodland Hills Mall	Tulsa, OK		94,036		34,211		187,123		—		15,645		34,211		202,768		236,979		83,941	2004 (5)
Premium Outlets
Albertville Premium Outlets	Albertville (Minneapolis), MN		—		3,900		97,059		—		4,771		3,900		101,830		105,730		33,371	2004 (4)
Allen Premium Outlets	Allen (Dallas), TX		—		13,855		43,687		97		13,640		13,952		57,327		71,279		20,626	2004 (4)
Aurora Farms Premium Outlets	Aurora (Cleveland), OH		—		2,370		24,326		—		3,801		2,370		28,127		30,497		16,611	2004 (4)

SCHEDULE III

Simon Property Group, Inc. and Subsidiaries
Real Estate and Accumulated Depreciation
December 31, 2012
(Dollars in thousands)

								Cost Capitalized Subsequent to Acquisition (3)				Gross Amounts At Which Carried At Close of Period
				Initial Cost (3)
																				Date of Construction or Acquisition
Name	Location	Encumbrances (7)		Land		Buildings and Improvements		Land		Buildings and Improvements		Land		Buildings and Improvements		Total (1)		Accumulated Depreciation (2)
Birch Run Premium Outlets	Birch Run (Detroit), MI		105,967		11,560		77,856		—		2,185		11,560		80,041		91,601		10,066	2010 (4)
Calhoun Premium Outlets	Calhoun, GA		20,368		1,745		12,529		—		223		1,745		12,752		14,497		3,408	2010 (4)
Camarillo Premium Outlets	Camarillo (Los Angeles), CA		—		16,670		224,721		482		63,684		17,152		288,405		305,557		76,517	2004 (4)
Carlsbad Premium Outlets	Carlsbad (San Diego), CA		—		12,890		184,990		96		2,768		12,986		187,758		200,744		49,589	2004 (4)
Carolina Premium Outlets	Smithfield (Raleigh), NC		50,423		3,175		59,863		5,311		3,719		8,486		63,582		72,068		24,339	2004 (4)
Chicago Premium Outlets	Aurora (Chicago), IL		—		659		118,005		—		3,926		659		121,931		122,590		42,486	2004 (4)
Cincinnati Premium Outlets	Monroe (Cincinnati), OH		—		14,117		71,520		—		4,318		14,117		75,838		89,955		13,306	2008
Clinton Crossing Premium Outlets	Clinton, CT		—		2,060		107,556		1,532		2,340		3,592		109,896		113,488		34,390	2004 (4)
Columbia Gorge Premium Outlets	Troutdale (Portland), OR		—		7,900		16,492		—		2,797		7,900		19,289		27,189		8,939	2004 (4)
Desert Hills Premium Outlets	Cabazon (Palm Springs), CA		—		3,440		338,679		—		9,236		3,440		347,915		351,355		87,907	2004 (4)
Edinburgh Premium Outlets	Edinburgh (Indianapolis), IN		—		2,857		47,309		—		12,565		2,857		59,874		62,731		21,592	2004 (4)
Ellenton Premium Outlets	Ellenton (Tampa), FL		104,311		15,807		182,412		—		2,749		15,807		185,161		200,968		25,617	2010 (4)
Folsom Premium Outlets	Folsom (Sacramento), CA		—		9,060		50,281		—		3,751		9,060		54,032		63,092		21,344	2004 (4)
Gaffney Premium Outlets	Gaffney (Greenville/Charlotte), SC		36,964		4,056		32,371		—		1,417		4,056		33,788		37,844		5,084	2010 (4)
Gilroy Premium Outlets	Gilroy (San Jose), CA		—		9,630		194,122		—		6,743		9,630		200,865		210,495		61,503	2004 (4)
Grand Prairie Premium Outlets	Grand Prairie (Dallas), TX		—		9,497		201,586		—		—		9,497		201,586		211,083		1,581	2012
Grove City Premium Outlets	Grove City (Pittsburgh), PA		112,611		6,421		121,880		—		1,049		6,421		122,929		129,350		18,480	2010 (4)
Gulfport Premium Outlets	Gulfport, MS		25,124		—		27,949		—		756		—		28,705		28,705		4,716	2010 (4)

SCHEDULE III

Simon Property Group, Inc. and Subsidiaries
Real Estate and Accumulated Depreciation
December 31, 2012
(Dollars in thousands)

								Cost Capitalized Subsequent to Acquisition (3)				Gross Amounts At Which Carried At Close of Period
				Initial Cost (3)
																				Date of Construction or Acquisition
Name	Location	Encumbrances (7)		Land		Buildings and Improvements		Land		Buildings and Improvements		Land		Buildings and Improvements		Total (1)		Accumulated Depreciation (2)
Hagerstown Premium Outlets	Hagerstown (Baltimore/Washington DC), MD		89,037		3,576		85,883		—		355		3,576		86,238		89,814		10,973	2010 (4)
Houston Premium Outlets	Cypress (Houston), TX		—		9,090		69,350		—		47,261		9,090		116,611		125,701		21,868	2007
Jackson Premium Outlets	Jackson (New York), NJ		—		6,413		104,013		3		4,554		6,416		108,567		114,983		28,934	2004 (4)
Jersey Shore Premium Outlets	Tinton Falls (New York), NJ		69,882		15,390		50,979		—		74,770		15,390		125,749		141,139		24,880	2007
Johnson Creek Premium Outlets	Johnson Creek, WI		—		2,800		39,546		—		5,785		2,800		45,331		48,131		13,963	2004 (4)
Kittery Premium Outlets	Kittery, ME		—		11,832		94,994		—		6,525		11,832		101,519		113,351		25,052	2004 (4)
Las Americas Premium Outlets	San Diego, CA		180,000		45,168		251,878		—		5,673		45,168		257,551		302,719		40,325	2007 (4)
Las Vegas Premium Outlets — North	Las Vegas, NV		—		25,435		134,973		16,536		68,054		41,971		203,027		244,998		58,867	2004 (4)
Las Vegas Premium Outlets — South	Las Vegas, NV		—		13,085		160,777		—		22,512		13,085		183,289		196,374		41,640	2004 (4)
Lebanon Premium Outlets	Lebanon (Nashville), TN		15,447		1,758		10,189		—		839		1,758		11,028		12,786		1,955	2010 (4)
Lee Premium Outlets	Lee, MA		50,844		9,167		52,212		—		851		9,167		53,063		62,230		8,290	2010 (4)
Leesburg Corner Premium Outlets	Leesburg (Washington D.C.), VA		—		7,190		162,023		—		3,734		7,190		165,757		172,947		53,590	2004 (4)
Liberty Village Premium Outlets	Flemington (New York), NJ		—		5,670		28,904		—		1,904		5,670		30,808		36,478		14,388	2004 (4)
Lighthouse Place Premium Outlets	Michigan City, IN		—		6,630		94,138		—		7,570		6,630		101,708		108,338		37,036	2004 (4)
Livermore Premium Outlets	Livermore (San Francisco), CA		—		21,925		310,941		—		—		21,925		310,941		332,866		1,401	2012
Merrimack Premium Outlets	Merrimack, NH		—		17,028		118,428		—		—		17,028		118,428		135,456		3,125	2012
Napa Premium Outlets	Napa, CA		—		11,400		45,023		—		2,370		11,400		47,393		58,793		16,094	2004 (4)
North Bend Premium Outlets	North Bend (Seattle), WA		—		2,143		36,197		—		2,498		2,143		38,695		40,838		10,248	2004 (4)

SCHEDULE III

Simon Property Group, Inc. and Subsidiaries
Real Estate and Accumulated Depreciation
December 31, 2012
(Dollars in thousands)

								Cost Capitalized Subsequent to Acquisition (3)				Gross Amounts At Which Carried At Close of Period
				Initial Cost (3)
																				Date of Construction or Acquisition
Name	Location	Encumbrances (7)		Land		Buildings and Improvements		Land		Buildings and Improvements		Land		Buildings and Improvements		Total (1)		Accumulated Depreciation (2)
North Georgia Premium Outlets	Dawsonville (Atlanta), GA		—		4,300		132,325		—		1,903		4,300		134,228		138,528		41,324	2004 (4)
Orlando Premium Outlets — International Dr	Orlando, FL		—		32,727		472,815		—		1,944		32,727		474,759		507,486		44,992	2010 (4)
Orlando Premium Outlets — Vineland Ave	Orlando, FL		—		14,040		304,410		20,808		47,276		34,848		351,686		386,534		85,753	2004 (4)
Osage Beach Premium Outlets	Osage Beach, MO		—		9,460		85,804		—		5,419		9,460		91,223		100,683		30,680	2004 (4)
Petaluma Village Premium Outlets	Petaluma (San Francisco), CA		—		13,322		13,710		—		235		13,322		13,945		27,267		8,466	2004 (4)
Philadelphia Premium Outlets	Limerick (Philadelphia), PA		—		16,676		105,249		—		15,621		16,676		120,870		137,546		31,542	2006
Pismo Beach Premium Outlets	Pismo Beach, CA		33,850		4,317		19,044		—		962		4,317		20,006		24,323		3,817	2010 (4)
Pleasant Prairie Premium Outlets	Pleasant Prairie (Chicago, IL — Milwaukee), WI		96,364		16,823		126,686		—		2,477		16,823		129,163		145,986		14,405	2010 (4)
Puerto Rico Premium Outlets	Barceloneta, PR		72,152		20,586		114,021		—		1,577		20,586		115,598		136,184		13,429	2010 (4)
Queenstown Premium Outlets	Queenstown (Baltimore), MD		66,150		8,129		61,950		—		1,732		8,129		63,682		71,811		7,454	2010 (4)
Rio Grande Valley Premium Outlets	Mercedes (McAllen), TX		—		12,229		41,547		—		33,555		12,229		75,102		87,331		23,300	2005
Round Rock Premium Outlets	Round Rock (Austin), TX		—		14,706		82,252		—		748		14,706		83,000		97,706		28,133	2005
San Marcos Premium Outlets	San Marcos (Austin — San Antonio), TX		142,834		13,180		287,179		—		1,513		13,180		288,692		301,872		27,599	2010 (4)
Seattle Premium Outlets	Tulalip (Seattle), WA		—		—		103,722		—		33,750		—		137,472		137,472		36,061	2004 (4)
St. Augustine Premium Outlets	St. Augustine (Jacksonville), FL		—		6,090		57,670		2		8,070		6,092		65,740		71,832		23,677	2004 (4)

SCHEDULE III

Simon Property Group, Inc. and Subsidiaries
Real Estate and Accumulated Depreciation
December 31, 2012
(Dollars in thousands)

								Cost Capitalized Subsequent to Acquisition (3)				Gross Amounts At Which Carried At Close of Period
				Initial Cost (3)
																				Date of Construction or Acquisition
Name	Location	Encumbrances (7)		Land		Buildings and Improvements		Land		Buildings and Improvements		Land		Buildings and Improvements		Total (1)		Accumulated Depreciation (2)
The Crossings Premium Outlets	Tannersville, PA		115,000		7,720		172,931		—		10,764		7,720		183,695		191,415		49,419	2004 (4)
Vacaville Premium Outlets	Vacaville, CA		—		9,420		84,850		—		9,299		9,420		94,149		103,569		34,681	2004 (4)
Waikele Premium Outlets	Waipahu (Honolulu), HI		—		22,630		77,316		—		3,977		22,630		81,293		103,923		27,338	2004 (4)
Waterloo Premium Outlets	Waterloo, NY		—		3,230		75,277		—		6,954		3,230		82,231		85,461		29,648	2004 (4)
Williamsburg Premium Outlets	Williamsburg, VA		102,862		10,323		223,789		—		995		10,323		224,784		235,107		21,926	2010 (4)
Woodbury Common Premium Outlets	Central Valley (New York), NY		—		11,110		862,559		1,658		15,264		12,768		877,823		890,591		229,166	2004 (4)
Wrentham Village Premium Outlets	Wrentham (Boston), MA		—		4,900		282,031		—		7,897		4,900		289,928		294,828		82,913	2004 (4)
The Mills
Great Mall	Milpitas (San Jose), CA		270,000		70,496		463,101		—		2,611		70,496		465,712		536,208		13,733	2007 (4) (5) (6)
Gurnee Mills	Gurnee (Chicago), IL		321,000		41,133		297,911		—		427		41,133		298,338		339,471		9,121	2007 (4) (5) (6)
Opry Mills	Nashville, TN		383,925		51,000		327,503		—		6,750		51,000		334,253		385,253		9,324	2007 (4) (5) (6)
Potomac Mills	Woodbridge (Washington, D.C.), VA		410,000		61,771		425,370		—		12,577		61,771		437,947		499,718		13,339	2007 (4) (5) (6)
Sawgrass Mills	Sunrise (Miami), FL		820,000		194,002		1,638,612		—		18,484		194,002		1,657,096		1,851,098		46,697	2007 (4) (5) (6)
Community/Lifestyle Centers
ABQ Uptown	Albuquerque, NM		—		6,374		75,333		4,054		2,207		10,428		77,540		87,968		4,440	2011 (4)
Arboretum	Austin, TX		—		7,640		36,774		71		12,434		7,711		49,208		56,919		19,781	1998 (4)
Bloomingdale Court	Bloomingdale (Chicago), IL		25,562		8,422		26,184		—		12,718		8,422		38,902		47,324		20,772	1987

SCHEDULE III

Simon Property Group, Inc. and Subsidiaries
Real Estate and Accumulated Depreciation
December 31, 2012
(Dollars in thousands)

								Cost Capitalized Subsequent to Acquisition (3)				Gross Amounts At Which Carried At Close of Period
				Initial Cost (3)
																				Date of Construction or Acquisition
Name	Location	Encumbrances (7)		Land		Buildings and Improvements		Land		Buildings and Improvements		Land		Buildings and Improvements		Total (1)		Accumulated Depreciation (2)
Charles Towne Square	Charleston, SC		—		—		1,768		370		10,636		370		12,404		12,774		9,008	1976
Chesapeake Center	Chesapeake (Virginia Beach), VA		—		4,410		11,241		—		—		4,410		11,241		15,651		7,126	1989
Concord Mills Marketplace	Concord (Charlotte), NC		12,492		8,261		21,717		—		—		8,261		21,717		29,978		703	2007 (4) (5) (6)
Countryside Plaza	Countryside (Chicago), IL		—		332		8,507		2,554		9,898		2,886		18,405		21,291		9,558	1977
Dare Centre	Kill Devil Hills, NC		—		—		5,702		—		336		—		6,038		6,038		1,801	2004 (4)
DeKalb Plaza	King of Prussia (Philadelphia), PA		2,530		1,955		3,405		—		1,182		1,955		4,587		6,542		2,284	2003 (4)
Empire East	Sioux Falls, SD		—		3,350		10,552		—		1,151		3,350		11,703		15,053		451	1998 (5)
Forest Plaza	Rockford, IL		18,074		4,132		16,818		453		12,329		4,585		29,147		33,732		13,292	1985
Gateway Centers	Austin, TX		—		24,549		81,437		—		11,282		24,549		92,719		117,268		30,691	2004 (4)
Great Lakes Plaza	Mentor (Cleveland), OH		—		1,028		2,025		—		3,820		1,028		5,845		6,873		2,242	1976
Greenwood Plus	Greenwood (Indianapolis), IN		—		1,129		1,792		—		4,568		1,129		6,360		7,489		3,488	1979
Henderson Square	King of Prussia (Philadelphia), PA		13,632		4,223		15,124		—		838		4,223		15,962		20,185		4,341	2003 (4)
Highland Lakes Center	Orlando, FL		—		7,138		25,284		—		2,118		7,138		27,402		34,540		20,064	1991
Keystone Shoppes	Indianapolis, IN		—		—		4,232		2,118		1,317		2,118		5,549		7,667		2,309	1997 (4)
Lake Plaza	Waukegan (Chicago), IL		—		2,487		6,420		—		1,173		2,487		7,593		10,080		4,271	1986
Lake View Plaza	Orland Park (Chicago), IL		15,618		4,702		17,543		—		13,211		4,702		30,754		35,456		16,390	1986
Lakeline Plaza	Cedar Park (Austin), TX		16,933		5,822		30,875		—		8,913		5,822		39,788		45,610		17,475	1998
Lima Center	Lima, OH		—		1,781		5,151		—		7,850		1,781		13,001		14,782		6,334	1978
Lincoln Crossing	O'Fallon (St. Louis), IL		—		674		2,192		—		845		674		3,037		3,711		1,558	1990
Lincoln Plaza	King of Prussia (Philadelphia), PA		—		—		21,299		—		3,483		—		24,782		24,782		12,071	2003 (4)
MacGregor Village	Cary, NC		—		502		8,897		—		320		502		9,217		9,719		2,264	2004 (4)
Mall of Georgia Crossing	Buford (Atlanta), GA		24,934		9,506		32,892		—		960		9,506		33,852		43,358		15,014	2004 (5)
Markland Plaza	Kokomo, IN		—		206		738		—		6,180		206		6,918		7,124		3,649	1974
Martinsville Plaza	Martinsville, VA		—		—		584		—		461		—		1,045		1,045		818	1967
Matteson Plaza	Matteson (Chicago), IL		—		1,771		9,737		—		3,577		1,771		13,314		15,085		7,640	1988
Muncie Towne Plaza	Muncie, IN		7,039		267		10,509		87		1,836		354		12,345		12,699		5,712	1998
Naples Outlet Center	Naples, FL		16,005		1,514		519		—		14		1,514		533		2,047		300	2010 (4)
New Castle Plaza	New Castle, IN		—		128		1,621		—		1,511		128		3,132		3,260		1,749	1966
North Ridge Plaza	Joliet (Chicago), IL		—		2,831		7,699		—		4,510		2,831		12,209		15,040		6,454	1985
North Ridge Shopping Center	Raleigh, NC		12,500		385		12,838		—		1,075		385		13,913		14,298		3,388	2004 (4)

SCHEDULE III

Simon Property Group, Inc. and Subsidiaries
Real Estate and Accumulated Depreciation
December 31, 2012
(Dollars in thousands)

								Cost Capitalized Subsequent to Acquisition (3)				Gross Amounts At Which Carried At Close of Period
				Initial Cost (3)
																				Date of Construction or Acquisition
Name	Location	Encumbrances (7)		Land		Buildings and Improvements		Land		Buildings and Improvements		Land		Buildings and Improvements		Total (1)		Accumulated Depreciation (2)
Northwood Plaza	Fort Wayne, IN		—		148		1,414		—		1,990		148		3,404		3,552		2,192	1974
Palms Crossing	McAllen, TX		37,747		13,496		45,925		—		9,252		13,496		55,177		68,673		13,279	2006
Regency Plaza	St. Charles (St. Louis), MO		—		616		4,963		—		582		616		5,545		6,161		2,987	1988
Richardson Square	Richardson (Dallas), TX		—		6,285		—		990		15,137		7,275		15,137		22,412		2,601	1977
Rockaway Commons	Rockaway (New York), NJ		—		5,149		26,435		—		8,289		5,149		34,724		39,873		10,859	1998 (4)
Rockaway Town Plaza	Rockaway (New York), NJ		—		—		18,698		2,225		3,089		2,225		21,787		24,012		5,380	2004
Shops at Arbor Walk, The	Austin, TX		42,662		930		42,546		—		4,871		930		47,417		48,347		10,709	2005
Shops at North East Mall, The	Hurst (Dallas), TX		—		12,541		28,177		402		4,770		12,943		32,947		45,890		17,475	1999
St. Charles Towne Plaza	Waldorf (Washington, D.C.), MD		—		8,377		18,993		—		3,952		8,377		22,945		31,322		12,341	1987
Terrace at the Florida Mall	Orlando, FL		—		2,150		7,623		—		5,457		2,150		13,080		15,230		6,546	1989
Tippecanoe Plaza	Lafayette, IN		—		—		745		234		5,231		234		5,976		6,210		3,639	1974
University Center	Mishawaka, IN		—		3,071		7,413		—		1,954		3,071		9,367		12,438		8,398	1980
Washington Plaza	Indianapolis, IN		—		941		1,697		—		1,220		941		2,917		3,858		2,615	1976
Waterford Lakes Town Center	Orlando, FL		—		8,679		72,836		—		15,723		8,679		88,559		97,238		43,632	1999
West Ridge Plaza	Topeka, KS		—		1,376		4,560		—		2,380		1,376		6,940		8,316		3,571	1988
White Oaks Plaza	Springfield, IL		14,079		3,169		14,267		—		4,140		3,169		18,407		21,576		8,916	1986
Wolf Ranch Town Center	Georgetown (Austin), TX		—		21,403		51,547		—		10,847		21,403		62,394		83,797		16,969	2004
Other Properties
Factory Stores of America — Lebanon	Lebanon, MO		—		24		214		—		41		24		255		279		222	2004 (4)
Florida Keys Outlet Center	Florida City, FL		10,645		1,560		1,748		—		863		1,560		2,611		4,171		759	2010 (4)
Huntley Outlet Center	Huntley, IL		29,776		3,495		2,027		—		273		3,495		2,300		5,795		503	2010 (4)
Outlet Marketplace	Orlando, FL		—		3,367		1,557		—		92		3,367		1,649		5,016		550	2010 (4)
The Shoppes at Branson Meadows	Branson, MO		—		—		5,205		—		640		—		5,845		5,845		2,149	2004 (4)
Development Projects
Phoenix Premium Outlet	Chandler (Phoenix), AZ		—		—		19,315		—		—		—		19,315		19,315		—
Other pre-development costs			—		115,220		66,662		—		—		115,220		66,662		181,882		1,822
Other			—		2,614		9,343		—		908		2,614		10,251		12,865		1,989
		$	8,018,252		3,486,463	$	24,763,596	$	250,419	$	5,423,899	$	3,736,882	$	30,187,495	$	33,924,377	$	8,836,695

Simon Property Group, Inc. and Subsidiaries

Notes to Schedule III as of December 31, 2012

(Dollars in thousands)

(1) Reconciliation of Real Estate Properties:

            The changes in real estate assets for the years ended December 31, 2012, 2011, and 2010 are as follows:

	2012			2011			2010
Balance, beginning of year	$	29,333,330		$	27,192,223		$	25,023,715
Acquisitions and consolidations (5)		4,438,848			2,068,452			2,200,102
Improvements		833,083			552,455			273,255
Disposals and deconsolidations		(680,884	)		(479,800	)		(304,849	)
Balance, close of year	$	33,924,377		$	29,333,330		$	27,192,223

            The unaudited aggregate cost of real estate assets for federal income tax purposes as of December 31, 2012 was $27,028,879. We utilize bonus depreciation for tax purposes when available.

(2) Reconciliation of Accumulated Depreciation:

            The changes in accumulated depreciation and amortization for the years ended December 31, 2012, 2011, and 2010 are as follows:

	2012			2011			2010
Balance, beginning of year	$	8,148,170		$	7,485,821		$	6,806,670
Depreciation expense		1,069,607			906,554			874,450
Disposals and deconsolidations		(381,082	)		(244,205	)		(195,299	)
Balance, close of year	$	8,836,695		$	8,148,170		$	7,485,821

            Depreciation of our investment in buildings and improvements reflected in the consolidated statements of operations and comprehensive income is calculated over the estimated original lives of the assets as noted below.

• •

  Buildings and Improvements — typically 10-40 years for the structure, 15 years for landscaping and parking lot, and 10 years for HVAC equipment.

  •

  Tenant Allowances and Improvements — shorter of lease term or useful life.
  
  

(3)

Initial cost generally represents net book value at December 20, 1993, except for acquired properties and new developments after December 20, 1993. Initial cost also includes any new developments that are opened during the current year. Costs of disposals and impairments of property are first reflected as a reduction to cost capitalized subsequent to acquisition.

(4)

Not developed/constructed by us or our predecessors. The date of construction represents the initial acquisition date for assets in which we have acquired multiple interests.

(5)

Initial cost for these properties is the cost at the date of consolidation for properties previously accounted for under the equity method of accounting.

(6)

Amounts represent preliminary purchase price allocation and are subject to change upon finalization.

(7)

Encumbrances represent face amount of mortgage debt and exclude any premiums or discounts.