8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): February 29, 2016

Brixmor Property Group Inc.

Brixmor Operating Partnership LP

(Exact Name of Registrant as Specified in its Charter)

Maryland	001-36160	45-2433192
Delaware	333-201464-01	80-0831163
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

450 Lexington Avenue

New York, New York 10017

(Address of Principal Executive Offices) (Zip Code)

(212) 869-3000

(Registrant’s Telephone Number, Including Area Code)

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02 Results of Operations and Financial Condition.

On February 29, 2016, Brixmor Property Group Inc. (the "Company") issued a press release announcing its financial results and Supplemental Disclosure pertaining to its operations for the fourth quarter and year ended December 31, 2015. The press release is furnished as Exhibit 99.1 to this Report and the Supplemental Disclosure is furnished as Exhibit 99.2 to this Report.

As provided in General Instruction B.2 of Form 8-K, the information in this Item 2.02 and Exhibits 99.1 and 99.2 to this Form 8-K shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall they be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits

(d)     The following exhibits are attached to this Current Report on Form 8-K

99.1	Press release issued February 29, 2016.
99.2	Brixmor Property Group Inc. Supplemental Financial Information for the fourth quarter and year ended December 31, 2015.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned hereunto duly authorized.

Date: February 29, 2016	BRIXMOR PROPERTY GROUP INC.
	By:	/s/Steven F. Siegel
	Name:	Steven F. Siegel
	Title:	Executive Vice President,
		General Counsel and Secretary
	BRIXMOR OPERATING PARTNERSHIP LP
	By:	Brixmor OP GP LLC, its general partner
	By:	BPG Subsidiary Inc., its sole member
	By:	/s/Steven F. Siegel
	Name:	Steven F. Siegel
	Title:	Executive Vice President,
		General Counsel and Secretary

EXHIBIT INDEX

Exhibit No.	Description
99.1	Press release issued February 29, 2016.
99.2	Brixmor Property Group Inc. Supplemental Financial Information for the fourth quarter and year ended December 31, 2015.

EX-99.1

Exhibit 99.1

420 Lexington Avenue : New York, NY 10170 : 800.468.7526

FOR IMMEDIATE RELEASE

CONTACT:

Stacy Slater                            

Senior Vice President, Investor Relations            

800.468.7526                             

stacy.slater@brixmor.com

BRIXMOR PROPERTY GROUP COMPLETES 2015 AUDIT AND FILES FORM 10-K

•Extensive Review Determined No Restatement Required

•Reports Fourth Quarter And Full Year 2015 Results

•Increases Small Shop Occupancy by 170 Basis Points

•Increases NAREIT FFO per Share by 9% in 2015

•Provides 2016 Guidance

NEW YORK, February 29, 2016 - Brixmor Property Group Inc. (NYSE: BRX) (“Brixmor” or the “Company”) announced today its operating results for the fourth quarter and year ended December 31, 2015 and, timely filed with the SEC its Form 10-K, including its audited 2015 financial statements.

Fourth Quarter 2015 Operating Results

	At and For Three Months Ended
	12/31/2015	12/31/2014	Change
Percent leased	92.6%	92.8%	(20) basis points
Percent leased: anchors (≥ 10K SF)	96.2%	97.1%	(90) basis points
Percent leased: small shop (< 10K SF)	84.3%	82.6%	+170 basis points
New lease annualized base rent (“ABR”) / SF	$15.87	$13.45	+18%
Total rent spread (cash)	14.8%	13.9%	+90 basis points
Portfolio ABR / SF	$12.76	$12.14	+5%

“I am very pleased to report significant progress on all fronts at Brixmor. Our 2015 audit and Form 10-K have been completed on time, without restatement, while our operating results and guidance continue to highlight the internal growth opportunities within our portfolio,” stated Daniel Hurwitz, Interim Chief Executive Officer and President.

Dividend

• The Company’s Board of Directors declared a quarterly cash dividend of $0.245 per common share (equivalent to $0.98 per annum) for the first quarter of 2016.

• The dividend is payable on April 15, 2016 to stockholders of record on April 5, 2016, representing an ex-dividend date of April 1, 2016.

Update Regarding Audit Committee Review

• Detailed information regarding the previously announced Audit Committee review can be found in the Company’s 2015 Form 10-K.

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Financial Highlights

NAREIT FFO

• For the three months ended December 31, 2015 and 2014, NAREIT FFO attributable to stockholders was $155.8 million, or $0.51 per diluted share and $131.5 million, or $0.43 per diluted share, respectively.

• For the years ended December 31, 2015 and 2014 (on a pro forma basis), NAREIT FFO attributable to stockholders was $600.2 million, or $1.97 per diluted share and $549.2 million, or $1.80 per diluted share, respectively.

Items That Impact NAREIT FFO Comparability

• For the three months ended December 31, 2014, results include approximately ($11.2) million, or ($0.04) per diluted share, of costs related to the prepayment of debt. 

• For the year ended December 31, 2015, results include the impact of approximately ($5.6) million, or ($0.02) per diluted share, comprised of a ($9.9) million non-cash, non-recurring charge related to pre-IPO compensation programs, ($2.1) million of property acquisition related expenses, a $4.7 million adjustment of pre-IPO tax reserves, and $1.7 million of gains related to the prepayment of debt.  For the year ended December 31, 2014 (on a pro forma basis), results include approximately ($13.8) million, or ($0.05) per diluted share, of costs related to the prepayment of debt. 

Net Income

• For the three months ended December 31, 2015 and 2014, net income attributable to common stockholders was $55.3 million, or $0.18 per diluted share and $22.9 million, or $0.08 per diluted share, respectively.

• For the years ended December 31, 2015 and December 31, 2014 (on an actual and pro forma basis), net income attributable to common stockholders was $193.6 million, or $0.65 per diluted share and $88.9 million, or $0.36 per diluted share, respectively. 

Same Property NOI

• Same property NOI for the year ended December 31, 2015 increased 3.2% from the comparable 2014 period due to growth in rental income driven by strong leasing spreads as the Company continues to harvest the below-market leases inherent in its portfolio.

Portfolio and Investment Activity

Anchor Space Repositioning / Redevelopment / Outparcel Development

• During the fourth quarter, the Company completed 19 anchor space repositioning projects and two outparcel development projects. The Company also added 13 anchor space repositioning projects and four outparcel development projects to its pipeline. 

• At December 31, 2015, the anchor space repositioning / outparcel development pipeline was comprised of 44 projects, the aggregate cost of which is expected to be approximately $105 million.

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420 Lexington Avenue : New York, NY 10170 : 800.468.7526

Acquisitions

• During 2015, the Company acquired three assets for $59.2 million totaling approximately 383,000 square feet of GLA.

Dispositions

• During the fourth quarter of 2015, the Company generated approximately $13.2 million of gross proceeds through property sales, including:

◦ Town Plaza, a 83,000 square foot property in Philadelphia, Pennsylvania; and

◦ 20.5 acres of land in Omaha, Nebraska.

• During 2015, the Company generated approximately $55.8 million of gross proceeds through asset sales.

Capital Structure

• At December 31, 2015, the Company had increased its unencumbered asset pool to 63% of its properties from 40% at December 31, 2013, refinancing approximately $869 million of secured debt during the year, including $382 million of 2016 maturities.

Guidance

Estimated 2016 earnings and portfolio metrics are as follows:

	2015A	2016E
NAREIT FFO per common share - diluted	$1.97	$2.01 - $2.09
Same property NOI growth	3.2%	2.5 - 3.5%
Percent leased (at year-end)	92.6%	92.8 - 93.0%
New and renewal rent growth (cash)	14.9%	10 - 15%
Total leasing related capital expenditures	$168M	$155 - $175M
Anchor space repositioning and redevelopment related spending	$108M	$95 - $110M
General and administrative expenses (1)	$98M	$84 - $87M
Straight-line rent and above- and below-market rent amortization, net	$65M	$50 - $53M
Interest expense (2)	$258M	$230 - $239M
Debt premium and discount amortization	$18M	$12 - $14M
Dispositions	$56M	$75 - $175M

(1) Includes a non-cash, non-recurring charge related to pre-IPO compensation programs of $9.9 million and executive severance expenses of $1.4 million for the year ended December 31, 2015.

(2) Excludes capitalized interest, deferred financing cost amortization and debt premium and discount amortization, net.

• NAREIT FFO attributable to stockholders per common share - diluted expectations for 2016 include the impact of ($0.06) - ($0.04) per diluted share of non-cash GAAP adjustments as compared with 2015 NAREIT FFO attributable to stockholders per common share. Excluding such non-cash GAAP adjustments, the expected increase in FFO per share is 5% to 8% over 2015.

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420 Lexington Avenue : New York, NY 10170 : 800.468.7526

• The expected non-cash GAAP adjustments for 2016 includes $0.21 to $0.23 per diluted share related to lower straight-line rent and above- and below-market rent amortization and lower debt premium and discount amortization. In 2015, non-cash GAAP adjustments were $0.27 per diluted share.

• 2016 guidance for same property NOI includes approximately a 40 basis point negative impact related to proactive remerchandising activities including the recapture of five A&P leases, a KMart lease, two office supply leases, and some additional spaces.

• The Company’s guidance does not include any expectations of one-time items, including, but not limited to, costs resulting from the Audit Committee review, encompassing but not limited to legal and consulting fees and potential litigation and investigative costs, as well as any costs related to the appointment of a permanent chief executive officer and a chief financial officer.

The following table provides a bridge from the Company’s 2015 NAREIT FFO attributable to stockholders per common share - diluted to the range of the Company’s 2016 estimated NAREIT FFO attributable to stockholders per common share - diluted.

	Low	High
2015 NAREIT FFO per common share - diluted	$1.97	$1.97
Property NOI growth	$0.06	$0.10
G&A expenses (1)	$0.04	$0.05
Interest expense (2)	$0.04	$0.06
Write-off of debt issuance costs	($0.01)	($0.01)
Income from properties sold in 2015	($0.01)	($0.01)
Other (3)	($0.02)	($0.03)
Non-cash GAAP adjustments
Straight-line rent and above- and below-market rent amortization, net	($0.04)	($0.02)
Debt premium and discount amortization	($0.02)	($0.02)
2016E NAREIT FFO per common share - diluted	$2.01	$2.09

(1) Includes a non-cash, non-recurring charge related to pre-IPO compensation programs of $9.9 million and executive severance expenses of $1.4 million for the year ended December 31, 2015.

(2) Includes capitalized interest and deferred financing cost amortization.

(3) Includes $4.7 million of net adjustments to pre-IPO tax reserves and receivables.

The following table provides a reconciliation of the range of 2016 estimated NAREIT FFO attributable to stockholders to net income attributable to common stockholders.

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(Unaudited, dollars in millions, except per share amounts)
	2016E	2016E Per Common Share - Diluted
Net income attributable to common stockholders	$232 - $263	$0.76 - $0.86
Depreciation and amortization	($382 - $376)	($1.25 - $1.23)
NAREIT FFO attributable to stockholders	$614 - $639	$2.01 - $2.09

Connect With Brixmor

• For additional information, please visit www.brixmor.com;

• Follow Brixmor on Twitter at www.twitter.com/Brixmor

• Find Brixmor on LinkedIn at www.linkedin.com/company/brixmor.

Pro Forma Results

Pro forma results reflect the distribution of 36 properties to certain investment funds affiliated with the Blackstone Group L.P. during the first quarter of 2014. The pro forma adjustments assume that the distribution of the properties was completed as of January 1, 2014 for the purpose of the unaudited pro forma consolidated statements of operations. A reconciliation of results of operations to actual results of operations is presented in the attached table.

Conference Call and Supplemental Information

The Company will host a teleconference on Tuesday, March 1, 2016 at 8:30 AM ET.   To participate, please dial 888.317.6003 (domestic) or 412.317.6061 (international) at least ten minutes prior to the scheduled start of the call (Passcode: 8010111).  The teleconference can also be accessed via a live webcast at www.brixmor.com in the Investors section. A replay of the teleconference will be available through midnight ET on March 15, 2016 by dialing 877.344.7529 (domestic) or 412.317.0088 (international) (Passcode: 10075996) or via the web through March 1, 2017 at www.brixmor.com in the Investors section.

The Company’s Supplemental Disclosure will be posted at www.brixmor.com in the Investors section. These materials are also available to all interested parties upon request to the Company at investorrelations@brixmor.com or 800.468.7526.

Non-GAAP Disclosures

NAREIT FFO

NAREIT FFO is a supplemental non-GAAP financial measure utilized to evaluate the operating performance of real estate companies. The National Association of Real Estate Investment Trusts (“NAREIT”) defines FFO as net income (loss) in accordance with GAAP excluding (i) gain (loss) on disposition of operating properties, and (ii) extraordinary items, plus (iii) depreciation and amortization of operating properties, (iv) impairment of operating properties and real estate equity investments, and (v) after adjustments for joint ventures calculated to reflect funds from operations on the same basis.

NAREIT FFO attributable to stockholders (which we define to include non-controlling interests convertible into common stock) is NAREIT FFO as further adjusted to exclude net income (loss) attributable to non-controlling interests not convertible into common stock. The Company believes NAREIT FFO attributable to stockholders is a

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meaningful supplemental measure that is more reflective of the Company’s operating performance by excluding NAREIT FFO attributable to non-controlling interests not convertible into common stock.

The Company presents NAREIT FFO and NAREIT FFO attributable to stockholders as it considers them important supplemental measures of its operating performance and the Company believes they are frequently used by securities analysts, investors and other interested parties in the evaluation of REITs.

NAREIT FFO and NAREIT FFO attributable to stockholders should not be considered as alternatives to net income (determined in accordance with GAAP) as indicators of financial performance and are not alternatives to cash flow from operating activities (determined in accordance with GAAP) as measures of liquidity.

Non-GAAP financial measures have limitations as they do not include all items of income and expense that affect operations and, accordingly, should always be considered as supplemental to financial results presented in accordance with GAAP. Computation of NAREIT FFO and NAREIT FFO attributable to stockholders may differ in certain respects from the methodology utilized by other REITs and, therefore, may not be comparable to similarly titled measures presented by such other REITs. Investors are cautioned that items excluded from NAREIT FFO and NAREIT FFO attributable to stockholders are significant components in understanding and addressing financial performance. A reconciliation of NAREIT FFO and NAREIT FFO attributable to stockholders to Net income is presented in the above table.

Same Property NOI

Same property NOI is calculated (using properties owned as of the end of both reporting periods and for the entirety of both periods excluding properties classified as discontinued operations), as rental income (minimum rent, percentage rents, tenant recoveries and other property income) less rental operating expenses (property operating expenses, real estate taxes and bad debt expense) of the properties owned by Brixmor. Same property NOI excludes corporate level income (including transaction and other fees), lease termination income, straight-line rent and amortization of above- and below-market leases of the same property pool from the prior year reporting period to the current year reporting period.

Same property NOI is a supplemental, non-GAAP financial measure utilized to evaluate the operating performance of real estate companies and the Company believes it is frequently used by securities analysts, investors and other interested parties in understanding business and operating results regarding the underlying economics of Brixmor's business operations. It includes only the net operating income of properties owned for the full period presented, which eliminates disparities in net income due to the acquisition or disposition of properties during the period presented, and therefore, provides a more consistent metric for comparing the performance of properties. Management uses same property NOI to review operating results for comparative purposes with respect to previous periods or forecasts, and also to evaluate future prospects. Same property NOI is not intended to be a performance measure that should be regarded as an alternative to, or more meaningful than, net income (determined in accordance with GAAP) or other GAAP financial measures. Non-GAAP financial measures have limitations as they do not include all items of income and expense that affect operations, and accordingly, should always be considered as supplemental to financial results presented in accordance with GAAP.  Computation of same property NOI may differ in certain respects from the methodology utilized by other REITs and, therefore, may not be comparable to

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such other REITs. See page 12 of the Company’s Supplemental Disclosure for a reconciliation of Same property NOI to Net income attributable to common stockholders.

About Brixmor Property Group

Brixmor owns and operates the nation's largest wholly owned portfolio of grocery-anchored community and neighborhood shopping centers, with 518 properties aggregating approximately 87 million square feet of gross leasable area located primarily across the top 50 U.S. metro markets. Brixmor leverages its national footprint, local market knowledge and operational expertise to support the growth of its retail tenants. The Company is focused on maximizing the value of its portfolio through its ongoing “Raising the Bar” program which involves strategic leasing and anchor space repositioning / redevelopment initiatives. Headquartered in New York City, the Company is the largest landlord to The TJX Companies and The Kroger Company.

Safe Harbor Language

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements include, but are not limited to, statements related to the Company’s expectations regarding the performance of its business, its financial results, its liquidity and capital resources and other non-historical statements. You can identify these forward-looking statements by the use of words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “seeks,” “approximately,” “projects,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties, including those described under the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015, as such factors may be updated from time to time in our periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release and in the Company’s filings with the SEC. The Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.

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CONSOLIDATED BALANCE SHEETS
Unaudited, dollars in thousands, except share information
				12/31/15			12/31/14
	Assets
		Real estate
			Land	$	2,011,947		$	2,000,415
			Buildings and improvements	8,920,903			8,801,834
				10,932,850			10,802,249
			Accumulated depreciation and amortization	(1,880,685		)	(1,549,234		)
		Real estate, net		9,052,165			9,253,015
		Investments in and advances to unconsolidated joint ventures		5,019			5,072
		Cash and cash equivalents		69,528			60,595
		Restricted cash		41,462			53,164
		Marketable securities		23,001			20,315
		Receivables, net of allowance for doubtful accounts of $16,587 and $14,070		180,486			182,424
		Deferred charges and prepaid expenses, net		109,149			94,269
		Other assets		17,197			13,059
	Total assets			$	9,498,007		$	9,681,913
	Liabilities
		Debt obligations, net		$	5,974,266		$	6,022,508
		Accounts payable, accrued expenses and other liabilities		603,439			679,102
	Total liabilities			6,577,705			6,701,610
	Equity
		Common stock, $0.01 par value; authorized 3,000,000,000 shares;
			299,138,450 and 296,552,142 shares outstanding	2,991			2,966
		Additional paid in capital		3,270,246			3,223,941
		Accumulated other comprehensive loss		(2,509		)	(4,435		)
		Distributions in excess of net income		(400,945		)	(318,762		)
	Total stockholders' equity			2,869,783			2,903,710
		Non-controlling interests		50,519			76,593
	Total equity			2,920,302			2,980,303
	Total liabilities and equity			$	9,498,007		$	9,681,913

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CONSOLIDATED STATEMENTS OF OPERATIONS
Unaudited, dollars in thousands, except per share amounts
				Actual Results						Actual Results			Pro Forma			Actual Results
				Three Months Ended						Twelve Months Ended						Twelve Months
				12/31/15			12/31/14			12/31/15			12/31/14			Ended 12/31/14
	Revenues
		Rental income		$	251,119		$	242,740		$	984,548		$	960,715		$	960,715
		Expense reimbursements		75,462			70,306			276,032			268,035			268,035
		Other revenues		(1,030		)	1,559			5,400			7,849			7,849
	Total revenues			325,551			314,605			1,265,980			1,236,599			1,236,599
	Operating expenses
		Operating costs		35,698			33,592			129,477			129,148			129,148
		Real estate taxes		47,276			46,911			180,911			179,504			179,504
		Depreciation and amortization		102,511			107,706			417,935			441,630			441,630
		Provision for doubtful accounts		2,567			2,920			9,540			11,537			11,537
		Impairment of real estate assets		198			—			1,005			—			—
		General and administrative		25,424			20,954			98,454			80,175			80,175
	Total operating expenses			213,674			212,083			837,322			841,994			841,994
	Other income (expense)
		Dividends and interest		74			166			315			602			602
		Interest expense		(58,723		)	(63,348		)	(245,012		)	(262,812		)	(262,812		)
		Gain on sale of real estate assets		2,520			—			11,744			378			378
		Gain (loss) on extinguishment of debt, net		798			(11,187		)	1,720			(13,761		)	(13,761		)
		Other		(233		)	(3,098		)	(348		)	(8,431		)	(8,431		)
	Total other expense			(55,564		)	(77,467		)	(231,581		)	(284,024		)	(284,024		)
	Income before equity in income of unconsolidated joint ventures			56,313			25,055			197,077			110,581			110,581
	Equity in income of unconsolidated joint ventures			101			123			459			438			370
	Gain on disposition of investments in unconsolidated joint ventures			—			—			—			—			1,820
	Income from continuing operations			56,414			25,178			197,536			111,019			112,771
	Discontinued operations
		Income from discontinued operations		—			26			—			122			4,909
		Gain on disposition of operating properties		—			745			—			745			15,171
	Income from discontinued operations			—			771			—			867			20,080
	Net income			56,414			25,949			197,536			111,886			132,851
	Net income attributable to non-controlling interests			(1,002		)	(2,851		)	(3,816		)	(22,832		)	(43,849		)
	Net income attributable to Brixmor Property Group, Inc.			55,412			23,098			193,720			89,054			89,002
	Preferred stock dividends			(150		)	(150		)	(150		)	(150		)	(150		)
	Net income attributable to common stockholders			$	55,262		$	22,948		$	193,570		$	88,904		$	88,852
	Per common share:
		Income from continuing operations:
			Basic	$	0.18		$	0.08		$	0.65		$	0.36		$	0.36
			Diluted	$	0.18		$	0.08		$	0.65		$	0.36		$	0.36
		Net income attributable to common stockholders:
			Basic	$	0.18		$	0.08		$	0.65		$	0.36		$	0.36
			Diluted	$	0.18		$	0.08		$	0.65		$	0.36		$	0.36
		Weighted average shares:
			Basic	298,868			271,904			298,004			243,390			243,390
			Diluted	299,697			272,835			305,017			244,588			244,588

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RECONCILIATION OF NET INCOME TO FFO
Unaudited, dollars in thousands, except per share amounts
				Actual Results						Actual Results				Pro Forma			Actual Results
				Three Months Ended						Twelve Months Ended							Twelve Months
				12/31/15			12/31/14			12/31/15				12/31/14			Ended 12/31/14
	Net income			$	56,414		$	25,949		$	197,536			$	111,886		$	132,851
		Gain on disposition of operating properties		(2,520		)	(745		)	(11,744		)		(378		)	(15,549		)
		Gain on disposition of unconsolidated joint ventures		—			—			—				—			(1,820		)
		Depreciation and amortization- real estate related- continuing     operations		101,833			106,439			413,470				438,565			438,565
		Depreciation and amortization- real estate related- discontinued     operations		—			15			—			—	175			606
		Depreciation and amortization- real estate related- unconsolidated     joint ventures		26			22			85			—	86			168
		Impairment of operating properties		—			—			807				—			—
	NAREIT FFO			155,753			131,680			600,154				550,334			554,821
		Adjustments attributable to non-controlling interests not convertible     into common stock		—			(215		)	—				(1,181		)	(6,415		)
	NAREIT FFO attributable to stockholders and non-controlling interests     convertible into common stock			$	155,753		$	131,465		$	600,154			$	549,153		$	548,406
	NAREIT FFO per share/OP Unit - diluted			$	0.51		$	0.43		$	1.97			$	1.80		$	1.80
	Weighted average shares/OP Units outstanding - basic and diluted (1)			305,105			304,447			305,023				304,359			304,359
	Items that impact FFO comparability
			Non-recurring charge related to pre-IPO compensation programs	$	—		$	—		$	(9,875	)		$	—		$	—
			Adjustment of tax reserves for pre-IPO transactions	781			—			4,730				—			—
			Property acquisition expenses	(652		)	—			(2,139		)		—			—
			Gain (loss) on extinguishment of debt, net	798			(11,187		)	1,720				(13,761		)	(7,686		)
		Total items that impact FFO comparability		$	927		$	(11,187	)	$	(5,564	)		$	(13,761	)	$	(7,686	)
		Items that impact FFO comparability, net per share		$	—		$	(0.04	)	$	(0.02	)		$	(0.05	)	$	(0.03	)
	Dividends declared per share/OP Unit			$	0.245		$	0.225		$	0.920			$	0.825		$	0.825
	Shares/OP Unit dividends declared			$	74,570		$	68,456		$	279,968			$	250,994		$	250,994
	Share/OP Unit dividend payout ratio (as % of NAREIT FFO)			47.9		%	52.1		%	46.6		%		45.7		%	45.8		%
(1) Basic and diluted shares/OP Units outstanding reflects an assumed conversion of certain BPG Sub shares and OP Units to common stock of the Company and the vesting of certain restricted stock awards.

x

RECONCILIATION OF GAAP STATEMENTS OF OPERATIONS TO PRO FORMA
STATEMENTS OF OPERATIONS
Unaudited, dollars in thousands, except per share amounts
				Twelve Months Ended 12/31/14
				Actual Results			Adjustments (1)			Pro Forma
	Revenues
		Rental income		$	960,715		$	—		$	960,715
		Expense reimbursements		268,035			—			268,035
		Other revenues		7,849			—			7,849
	Total revenues			1,236,599			—			1,236,599
	Operating expenses
		Operating costs		129,148			—			129,148
		Real estate taxes		179,504			—			179,504
		Depreciation and amortization		441,630			—			441,630
		Provision for doubtful accounts		11,537			—			11,537
		General and administrative		80,175			—			80,175
	Total operating expenses			841,994			—			841,994
	Other income (expense)
		Dividends and interest		602			—			602
		Interest expense		(262,812		)	—			(262,812		)
		Gain on sale of real estate assets		378			—			378
		Loss on extinguishment of debt, net		(13,761		)	—			(13,761		)
		Other		(8,431		)	—			(8,431		)
	Total other expense			(284,024		)	—			(284,024		)
	Income before equity in income of unconsolidated joint ventures			110,581			—			110,581
	Equity in income of unconsolidated joint ventures			370			68			438
	Gain on disposition of investments in unconsolidated joint ventures			1,820			(1,820		)	—
	Income from continuing operations			112,771			(1,752		)	111,019
	Discontinued operations
		Income from discontinued operations		4,909			(4,787		)	122
		Gain on disposition of operating properties		15,171			(14,426		)	745
	Income from discontinued operations			20,080			(19,213		)	867
	Net income			132,851			(20,965		)	111,886
		Net income attributable to non-controlling interests		(43,849		)	21,017			(22,832		)
	Net income attributable to Brixmor Property Group, Inc.			89,002			52			89,054
	Preferred stock dividends			(150		)	—			(150		)
	Net income attributable to common stockholders			$	88,852		$	52		$	88,904
	Per common share:
		Income from continuing operations:
			Basic	$	0.36		$	—		$	0.36
			Diluted	$	0.36		$	—		$	0.36
		Net income attributable to common stockholders:
			Basic	$	0.36		$	—		$	0.36
			Diluted	$	0.36		$	—		$	0.36
		Weighted average number of vested common shares:
			Basic	243,390			—			243,390
			Diluted	244,588			—			244,588
(1) Reflects the impact associated with the distribution of 36 of the Excluded Properties during the first quarter of 2014. The pro forma adjustments assume that the distribution of the properties
was completed as of January 1, 2014.

xi

EX-99.2

Exhibit 99.2

SUPPLEMENTAL DISCLOSURE
	Three Months Ended December 31, 2015

TABLE OF CONTENTS
				Page
		Glossary of Terms		1
		Results Overview		3
		Financial Summary
			Consolidated Balance Sheets	5
			Consolidated Statements of Operations	6
			Consolidated Statements of Cash Flows	7
			Reconciliation of Net Income to EBITDA	8
			Reconciliation of Net Income to NAREIT FFO	9
			Supplemental Balance Sheet Detail	10
			NOI Detail, Supplemental Statement of Operations Detail, Operating Ratios & Additional Disclosures	11
			Same Property NOI Analysis & Reconciliation of Net Income Attributable to Common Stockholders	12
			Capital Expenditures	13
			Capitalization, Liquidity & Debt Ratios	14
			Debt Overview	15
			Summary of Outstanding Debt	16
			Unsecured OP Notes Covenant Disclosure	18
			Unsecured Credit Facility Covenant Disclosure	19
			Reconciliation of GAAP Statements of Operations to Pro Forma Statements of Operations	20
		Transaction Summary
			Acquisitions	22
			Dispositions	23
		Portfolio Summary
			Portfolio Overview	25
			Top Forty Retailers Ranked by ABR	26
			New & Renewal Lease Summary	27
			New Lease Net Effective Rent	28
			Anchor Space Repositioning Summary	29
			Redevelopment & Outparcel Development Summary	31
			Lease Expiration Schedule	32
			Properties by Largest US MSAs	33
			Largest MSAs by ABR	35
			Properties by State	38
			Property List	39
		Guidance
			Guidance & Additional Disclosures	51
	This presentation includes financial information for the Company’s actual results and pro forma results reflecting the impact associated with the distribution of the Excluded Properties in connection with the IPO completed on November 4, 2013.
	Note: Financial information is unaudited.
	For additional information, please visit www.brixmor.com, follow Brixmor on Twitter at www.twitter.com/Brixmor or find Brixmor on LinkedIn at www.linkedin.com/company/brixmor.
	This Supplemental Disclosure may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements include, but are not limited to, statements related to the Company’s expectations regarding the performance of its business, its financial results, its liquidity and capital resources and other non-historical statements. You can identify these forward-looking statements by the use of words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “seeks,” “approximately,” “projects,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties, including those described under the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014 as such factors may be updated from time to time in our periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this document and in the Company’s filings with the SEC. The Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.

Supplemental Disclosure - Three Months Ended December 31, 2015

GLOSSARY OF TERMS
	Term	Definition
	Anchor Spaces	Means space equal to or more than 10,000 sq. ft. of GLA.
	Anchor Space Repositioning	Anchor leasing that is primarily focused on reconfiguring or remerchandising existing space with minimal work required outside of normal tenant
		improvement costs.
	Annualized Base Rent or "ABR"	As of a specified date means monthly base rent as of such date, under leases which have been signed or commenced as of the specified date multiplied
		by 12. Annualized base rent (i) excludes tenant reimbursements or expenses borne by the tenants, such as the expenses for real estate taxes and
		insurance and common area and other operating expenses, (ii) does not reflect amounts due per percentage rent lease terms, (iii) is calculated on a cash
		basis and differs from how rent is calculated in accordance with GAAP for purposes of financial statements and (iv) does not include any ancillary
		income at a property.
	ABR per sq. ft. or "ABR/SF"	Is calculated as ABR divided by leased GLA, excluding the GLA of lessee owned leasehold improvements.
	Billed GLA	Includes leases for spaces where the tenant is currently paying rent.
	Blended Lease Spreads	Means combined spreads for new and renewal leases (including exercised options) on comparable leases.
	Capitalization Rate ("Cap Rate")	Net operating income divided by purchase price.
	Community Shopping Center	Means a shopping center that meets the International Council of Shopping Centers’ (“ICSC”) definition of community center. ICSC generally defines a
		community center as a shopping center with general merchandise or convenience-oriented merchandise. Although similar to a neighborhood center (as
		defined below), a community shopping center offers a wider range of apparel and other soft goods than a neighborhood center.
		Community centers range from 125,000 to 400,000 sq. ft. in GLA and are usually configured in a straight line as a strip and are commonly anchored by
		discount stores, supermarkets, drugstores and large specialty discount stores.
	Comparable Leases	Include only those spaces that were occupied within the prior 12 months.
	EBITDA & Adjusted EBITDA	Is calculated as the sum of net income (loss) in accordance with generally accepted accounting principles in the United States of America (“GAAP”)
		before interest expense, income taxes, depreciation and amortization. Adjusted EBITDA represents EBITDA as adjusted for (i) acquisition related costs,
		(ii) gain (loss) on disposition of operating properties, (iii) impairment of real estate assets and real estate equity investments, (iv) gain (loss) on disposition of
		unconsolidated joint ventures, (v) gain (loss) on extinguishment of debt, (vi) other items that are not indicative of the Company's operating performance
		and (vii) after adjustments attributable to non-controlling interests not convertible into common stock.
		EBITDA and Adjusted EBITDA are supplemental, non-GAAP measures utilized in various financial ratios and are helpful to securities analysts, investors and
		other interested parties in the evaluation of REITs, as a measure of Brixmor’s operational performance because EBITDA and Adjusted EBITDA exclude
		various items that do not relate to or are not indicative of its operating performance. In addition, it includes the results of operations of real estate
		properties that have been sold or classified as real estate held for sale at the end of the reporting period. Accordingly, the use of EBITDA and Adjusted
		EBITDA in various ratios provides a meaningful performance measure as it relates to its ability to meet various coverage tests for the stated period.
		EBITDA and Adjusted EBITDA should not be considered as alternatives to net income (determined in accordance with GAAP) as indicators of financial
		performance and are not alternatives to cash flow from operating activities (determined in accordance with GAAP) as a measure of liquidity.
		Non-GAAP financial measures have limitations as they do not include all items of income and expense that affect operations, and accordingly, should
		always be considered as supplemental to financial results presented in accordance with GAAP. Computation of EBITDA and Adjusted EBITDA may differ
		in certain respects from the methodology utilized by other REITs and, therefore, may not be comparable to such other REITs. Investors are cautioned that
		items excluded from EBITDA and Adjusted EBITDA are significant components in understanding and addressing financial performance.
	Excluded Properties	Includes 47 properties either distributed to certain investment funds affiliated with the Blackstone Group L.P. in connection with the IPO completed on
		November 4, 2013 or sold.
	Gross Leasable Area or "GLA"	Represents the total amount of property square footage that can generate income by being leased to tenants.
	Ground Lease	A long-term lease of land in which the tenant erects improvements at its own expense. At the end of the lease term, the improvements become the
		property of the landowner.
	Leased GLA	Includes the aggregate GLA of all leases in effect on a given date, including those that are fully executed but as to which the tenant has not yet opened
		for business and/or not yet commenced the payment of rent.
	LIBOR	Means London Interbank Offered Rate.
	Metropolitan Statistical Area or "MSA"	Is defined by the United States Office of Management and Budget (“OMB”) as a region associated with at least one urbanized area that has a population
		of at least 50,000 and comprises the central county or counties containing the core, plus adjacent outlying counties having a high degree of social and
		economic integration with the central county or counties as measured through commuting.
	NAREIT Funds From Operations (“FFO")	Is a supplemental non-GAAP financial measure utilized to evaluate the operating performance of real estate companies. The National Association of Real
		Estate Investment Trusts (“NAREIT”) defines FFO as net income (loss) in accordance with GAAP excluding (i) gain (loss) on disposition of operating properties,
		and (ii) extraordinary items, plus (iii) depreciation and amortization of operating properties, (iv) impairment of operating properties and real estate equity
		investments, and (v) after adjustments for joint ventures calculated to reflect funds from operations on the same basis. NAREIT FFO attributable to
		stockholders and non-controlling interests convertible into common stock is NAREIT FFO as further adjusted to exclude net income (loss) attributable to
		non-controlling interests not convertible into common stock. The Company believes NAREIT FFO attributable to stockholders and non-controlling interests
		convertible into common stock is a meaningful supplemental measure that is more reflective of its operating performance by excluding NAREIT FFO
		attributable to non-controlling interests not convertible into common stock.
		The Company presents NAREIT FFO and NAREIT FFO attributable to stockholders and non-controlling interests convertible into common stock as it considers
		them important supplemental measures of its operating performance and the Company believes they are frequently used by securities analysts, investors
		and other interested parties in the evaluation of REITs. NAREIT FFO and NAREIT FFO attributable to stockholders and non-controlling interests convertible
		into common stock should not be considered as alternatives to net income (determined in accordance with GAAP) as indicators of financial performance and
		are not alternatives to cash flow from operating activities (determined in accordance with GAAP) as measures of liquidity. Non-GAAP financial measures
		have limitations as they do not include all items of income and expense that affect operations and, accordingly, should always be considered as

Supplemental Disclosure - Three Months Ended December 31, 2015 Page 1

	supplemental to financial results presented in accordance with GAAP. Computation of NAREIT FFO and NAREIT FFO attributable to stockholders and
	non-controlling interests convertible into common stock may differ in certain respects from the methodology utilized by other REITs and, therefore, may not
	be comparable to similarly titled measures presented by such other REITs. Investors are cautioned that items excluded from NAREIT FFO and NAREIT FFO
	attributable to stockholders and non-controlling interests convertible into common stock are significant components in understanding and addressing
	financial performance. A reconciliation of NAREIT FFO and NAREIT FFO attributable to stockholders to net income is provided herein.
Neighborhood Shopping Center	Means a shopping center that meets ICSC’s definition of neighborhood center. ICSC generally defines a neighborhood center as a shopping center with
	offerings that are convenience-oriented. Neighborhood centers range from 30,000 to 125,000 sq. ft. in GLA and are generally anchored by a supermarket.
Net Effective Rent	Adjusts for any tenant incentive / allowance, landlord work, third party leasing commissions and rent concessions at 100% of costs, weighted by GLA over
	the lease term.
Net Operating Income or "NOI"	Is calculated as total property revenues (minimum rent, percentage rents, and recoveries from tenants and other income) less direct property operating
	expenses (operating and maintenance and real estate taxes) from the properties owned by Brixmor. NOI excludes corporate level income (including
	management, transaction, and other fees).
	NOI is a supplemental, non-GAAP measure utilized to evaluate the operating performance of real estate companies and is frequently used by securities
	analysts, investors and other interested parties in understanding business and operating results regarding the underlying economics of Brixmor's business
	operations. NOI is not intended to be a performance measure that should be regarded as an alternative to, or more meaningful than, net income
	(determined in accordance with GAAP) or other GAAP financial measures. Non-GAAP financial measures have limitations as they do not include all items
	of income and expense that affect operations, and accordingly, should always be considered as supplemental to financial results presented in
	accordance with GAAP. Computation of NOI may differ in certain respects from the methodology utilized by other REITs and, therefore, may not be
	comparable to such other REITs.
NOI Yield	Is calculated as projected NOI over incremental cost of a given anchor space repositioning / redevelopment project.
Non-controlling Interests	The non-controlling interests relate to the portion of Brixmor Operating Partnership LP ("OP”), a consolidated subsidiary, held by the non-controlling
	interest holders. As of December 31, 2015, the Company, through its 100% ownership of BPG Subsidiary, Inc., owns 98.30% of the OP. The remaining 1.70%
	is held by certain investment funds affiliated with the Blackstone Group L.P. and management of the Company.
Non-owned Major Tenant	Also called shadow anchor. Includes tenants that are situated on parcels which are owned by unrelated third parties, but, due to their location within or
	immediately adjacent to shopping center, to the consumer appear as another retail tenant of the shopping center and, as a result, attract additional
	customer traffic to the center.
Percent Leased	Refers to the percentage of GLA that is leased, includes lease agreements that have been signed but not yet commenced.
Pro Forma	Reflects the impact associated with the distribution of 36 of the Excluded Properties during the first quarter of 2014. The pro forma adjustments
	assume that the distribution of the properties was completed as of January 1, 2014.
PSF	Means per square foot ("sq. ft.") of GLA.
Redevelopment Properties	Larger scale projects that typically involve substantial demolition of a portion of the shopping center to accommodate new retailers. These projects
	typically are accompanied with new construction and site infrastructure costs.
Renewal Leases	Includes expiring leases renewed with the same tenant or the exercise of options by tenants to extend the term of expiring leases. All other leases are
	categorized as new.
Rent Growth	Is calculated as ABR in the final year of the lease compared to ABR in the first year of the new lease. New lease spreads include only those spaces that
	were occupied within the prior 12 months. Renewal and option lease spreads include leases rolling over with the same tenant in the same location. Data
	includes all leases in effect, including those that are fully executed, but not yet open.
Same Property Net Operating Income	Is calculated (using properties owned as of the end of both reporting periods and for the entirety of both periods excluding properties classified as
or Same Property NOI	discontinued operations), as rental income (minimum rent, percentage rents, tenant recoveries and other property income) less rental operating expenses
	(property operating expenses, real estate taxes and bad debt expense) of the properties owned by Brixmor. Same property NOI includes an
	unconsolidated joint venture at pro rata share. Same property NOI excludes corporate level income (including transaction and other fees), lease
	termination income, straight-line rent and amortization of above- and below-market leases of the same property pool from the prior year reporting period
	to the current year reporting period.
	Same property NOI is a supplemental, non-GAAP financial measure utilized to evaluate the operating performance of real estate companies and the
	Company believes it is frequently used by securities analysts, investors and other interested parties in understanding business and operating results
	regarding the underlying economics of Brixmor's business operations. It includes only the net operating income of properties owned for the full period
	presented, which eliminates disparities in net income due to the acquisition or disposition of properties during the period presented, and therefore,
	provides a more consistent metric for comparing the performance of properties. Management uses same property NOI to review operating results for
	comparative purposes with respect to previous periods or forecasts, and also to evaluate future prospects. Same property NOI is not intended to be a
	performance measure that should be regarded as an alternative to, or more meaningful than, net income (determined in accordance with GAAP) or
	other GAAP financial measures. Non-GAAP financial measures have limitations as they do not include all items of income and expense that affect
	operations, and accordingly, should always be considered as supplemental to financial results presented in accordance with GAAP. Computation of
	same property NOI may differ in certain respects from the methodology utilized by other REITs and, therefore, may not be comparable to such other REITs.
Small Shop Spaces	Means space of less than 10,000 sq. ft. of GLA.
Straight-line Rent	GAAP requirement to average the tenant's rent payments over the life of the lease, regardless of actual cash collected in the period.
Year Built	Year of most recent anchor space repositioning / redevelopment or year built if no anchor space repositioning / redevelopment has occurred.

Supplemental Disclosure - Three Months Ended December 31, 2015 Page 2

RESULTS OVERVIEW
Unaudited, dollars in thousands except per share and per square foot amounts
				Actual Results						Actual Results			Pro Forma			Actual Results
				Three Months Ended						Twelve Months Ended						Twelve Months
	Summary Financial Results			12/31/15			12/31/14			12/31/15			12/31/14			Ended 12/31/14
		Total revenues (page 6)		$	325,551		$	314,605		$	1,265,980		$	1,236,599		$	1,236,599
		Net income attributable to common stockholders (page 6)		55,262			22,948			193,570			88,904			88,852
		Net income attributable to common stockholders - per diluted share (page 6)		0.18			0.08			0.65			0.36			0.36
		Adjusted EBITDA (page 8)		217,290			212,170			861,857			840,369			839,627
		NAREIT FFO (page 9)		155,753			131,680			600,154			550,334			554,821
		NAREIT FFO attributable to stockholders and non-controlling interests convertible into		155,753			131,465			600,154			549,153			548,406
			common stock (page 9)
		NAREIT FFO per share/OP Unit - diluted (page 9)		0.51			0.43			1.97			1.80			1.80
			Items that impact FFO comparability, net per share (page 9)	0.00			(0.04		)	(0.02		)	(0.05		)	(0.03		)
		Dividends declared per share/OP Unit (page 9)		0.245			0.225			0.920			0.825			0.825
		Share/OP Unit dividend payout ratio (as % of NAREIT FFO) (page 9)		47.9		%	52.1		%	46.6		%	45.7		%	45.8		%
		NOI (page 11)		239,556			230,838			944,219			914,397			914,397
				Three Months Ended
	Summary Operating and Financial Ratios			12/31/15			9/30/15			6/30/15			3/31/15			12/31/14
		NOI margin (page 11)		73.7		%	75.9		%	75.2		%	74.0		%	73.5		%
		Same property NOI (page 12) (1) (2)		—			3.6		%	3.6		%	3.4		%	3.9		%
		Fixed charge coverage (page 14)		3.3x			3.1x			3.1x			3.1x			3.0x
		Net principal debt to adjusted EBITDA (GAAP) (page 14)		6.7x			6.8x			6.8x			6.9x			6.9x
		Net principal debt to adjusted EBITDA (cash) (page 14)		7.3x			7.3x			7.4x			7.5x			7.5x
	Outstanding Classes of Stock and Partnership Units			At 12/31/15			At 9/30/15			At 6/30/15			At 3/31/15			At 12/31/14
		Common shares outstanding (page 14)		299,138			298,489			298,489			298,484			296,552
		Exchangeable OP Units held by non-controlling interests (page 14)		5,182			5,798			5,814			5,821			7,695
		Total		304,320			304,287			304,303			304,305			304,247
	Summary Portfolio Statistics			At 12/31/15			At 9/30/15			At 6/30/15			At 3/31/15			At 12/31/14
		Number of properties (page 25)		518			519			519			520			521
		Percent leased (page 25)		92.6		%	92.6		%	92.5		%	92.4		%	92.8		%
		Percent billed (page 25)		91.0		%	90.9		%	90.3		%	90.3		%	91.3		%
		ABR / SF (page 25)		$	12.76		$	12.68		$	12.31		$	12.19		$	12.14
		Total rent spread (page 27)		14.8		%	15.2		%	16.1		%	13.7		%	13.9		%
		New lease rent spread (page 27)		29.9		%	49.0		%	50.4		%	39.4		%	41.6		%
		Renewal lease rent spread (page 27)		12.4		%	11.5		%	9.1		%	8.6		%	7.8		%
(1) The Company is not reporting same property NOI for the quarter ended December 31, 2015. Same property NOI for the twelve months ended December 31, 2015 is 3.2%. The information
presented for quarters ending December 31, 2014 thru September 30, 2015 is as originally reported by the Company. As disclosed by the Company on February 8, 2016, in connection with an
Audit Committee review, a forensic accounting firm assisting the Audit Committee determined that the quarterly same property NOI percentages for December 31, 2014 thru September 30,
2015 were 5.1%, 3.4%, 4.1% and 3.3%, respectively.
(2) Excludes Excluded Properties. Includes joint venture, Montecito Marketplace, at pro rata share.

Supplemental Disclosure - Three Months Ended December 31, 2015 Page 3

FINANCIAL SUMMARY
	Supplemental Disclosure Three Months Ended December 31, 2015

CONSOLIDATED BALANCE SHEETS
Unaudited, dollars in thousands, except share information
				12/31/15			12/31/14
	Assets
		Real estate
			Land	$	2,011,947		$	2,000,415
			Buildings and improvements	8,920,903			8,801,834
				10,932,850			10,802,249
			Accumulated depreciation and amortization	(1,880,685		)	(1,549,234		)
		Real estate, net		9,052,165			9,253,015
		Investments in and advances to unconsolidated joint ventures		5,019			5,072
		Cash and cash equivalents		69,528			60,595
		Restricted cash		41,462			53,164
		Marketable securities		23,001			20,315
		Receivables, net of allowance for doubtful accounts of $16,587 and $14,070		180,486			182,424
		Deferred charges and prepaid expenses, net		109,149			94,269
		Other assets		17,197			13,059
	Total assets			$	9,498,007		$	9,681,913
	Liabilities
		Debt obligations, net		$	5,974,266		$	6,022,508
		Accounts payable, accrued expenses and other liabilities		603,439			679,102
	Total liabilities			6,577,705			6,701,610
	Equity
		Common stock, $0.01 par value; authorized 3,000,000,000 shares;
			299,138,450 and 296,552,142 shares outstanding	2,991			2,966
		Additional paid in capital		3,270,246			3,223,941
		Accumulated other comprehensive loss		(2,509		)	(4,435		)
		Distributions in excess of net income		(400,945		)	(318,762		)
	Total stockholders' equity			2,869,783			2,903,710
		Non-controlling interests		50,519			76,593
	Total equity			2,920,302			2,980,303
	Total liabilities and equity			$	9,498,007		$	9,681,913

Supplemental Disclosure - Three Months Ended December 31, 2015 Page 5

CONSOLIDATED STATEMENTS OF OPERATIONS
Unaudited, dollars in thousands, except per share amounts
				Actual Results						Actual Results			Pro Forma			Actual Results
				Three Months Ended						Twelve Months Ended						Twelve Months
				12/31/15			12/31/14			12/31/15			12/31/14			Ended 12/31/14
	Revenues
		Rental income		$	251,119		$	242,740		$	984,548		$	960,715		$	960,715
		Expense reimbursements		75,462			70,306			276,032			268,035			268,035
		Other revenues		(1,030		)	1,559			5,400			7,849			7,849
	Total revenues			325,551			314,605			1,265,980			1,236,599			1,236,599
	Operating expenses
		Operating costs		35,698			33,592			129,477			129,148			129,148
		Real estate taxes		47,276			46,911			180,911			179,504			179,504
		Depreciation and amortization		102,511			107,706			417,935			441,630			441,630
		Provision for doubtful accounts		2,567			2,920			9,540			11,537			11,537
		Impairment of real estate assets		198			—			1,005			—			—
		General and administrative		25,424			20,954			98,454			80,175			80,175
	Total operating expenses			213,674			212,083			837,322			841,994			841,994
	Other income (expense)
		Dividends and interest		74			166			315			602			602
		Interest expense		(58,723		)	(63,348		)	(245,012		)	(262,812		)	(262,812		)
		Gain on sale of real estate assets		2,520			—			11,744			378			378
		Gain (loss) on extinguishment of debt, net		798			(11,187		)	1,720			(13,761		)	(13,761		)
		Other		(233		)	(3,098		)	(348		)	(8,431		)	(8,431		)
	Total other expense			(55,564		)	(77,467		)	(231,581		)	(284,024		)	(284,024		)
	Income before equity in income of unconsolidated joint ventures			56,313			25,055			197,077			110,581			110,581
	Equity in income of unconsolidated joint ventures			101			123			459			438			370
	Gain on disposition of investments in unconsolidated joint ventures			—			—			—			—			1,820
	Income from continuing operations			56,414			25,178			197,536			111,019			112,771
	Discontinued operations
		Income from discontinued operations		—			26			—			122			4,909
		Gain on disposition of operating properties		—			745			—			745			15,171
	Income from discontinued operations			—			771			—			867			20,080
	Net income			56,414			25,949			197,536			111,886			132,851
	Net income attributable to non-controlling interests			(1,002		)	(2,851		)	(3,816		)	(22,832		)	(43,849		)
	Net income attributable to Brixmor Property Group, Inc.			55,412			23,098			193,720			89,054			89,002
	Preferred stock dividends			(150		)	(150		)	(150		)	(150		)	(150		)
	Net income attributable to common stockholders			$	55,262		$	22,948		$	193,570		$	88,904		$	88,852
	Per common share:
		Income from continuing operations:
			Basic	$	0.18		$	0.08		$	0.65		$	0.36		$	0.36
			Diluted	$	0.18		$	0.08		$	0.65		$	0.36		$	0.36
		Net income attributable to common stockholders:
			Basic	$	0.18		$	0.08		$	0.65		$	0.36		$	0.36
			Diluted	$	0.18		$	0.08		$	0.65		$	0.36		$	0.36
		Weighted average shares:
			Basic	298,868			271,904			298,004			243,390			243,390
			Diluted	299,697			272,835			305,017			244,588			244,588

Supplemental Disclosure - Three Months Ended December 31, 2015 Page 6

CONSOLIDATED STATEMENTS OF CASH FLOWS
Unaudited, dollars in thousands
			Twelve Months Ended
			12/31/15			12/31/14
	Operating activities:
	Net income		$	197,536		$	132,851
	Adjustments to reconcile net income to net cash provided by operating activities:
		Depreciation and amortization	417,935			442,236
		Debt premium and discount amortization	(18,065		)	(20,413		)
		Deferred financing cost amortization	8,302			8,691
		Above- and below-market lease intangible amortization	(47,757		)	(45,536		)
		Impairment of real estate assets	1,005			—
		Gain on disposition of operating properties and disposition of investments in unconsolidated joint ventures	(11,744		)	(17,369		)
		Equity based compensation	23,331			9,452
		Other	358			(325		)
		Gain on extinguishment of debt, net	(5,306		)	(245		)
	Changes in operating assets and liabilities:
		Restricted cash	10,027			16,920
		Receivables	1,829			(5,347		)
		Deferred charges and prepaid expenses	(40,460		)	(29,413		)
		Other assets	(43		)	409
		Accounts payable, accrued expenses and other liabilities	(2,923		)	(12,701		)
	Net cash provided by operating activities		534,025			479,210
	Investing activities:
		Improvements to and investments in real estate assets	(189,934		)	(214,678		)
		Acquisitions of real estate assets	(52,208		)	—
		Proceeds from sales of real estate assets	54,236			6,835
		Distributions from unconsolidated joint venture	—			454
		Change in restricted cash attributable to investing activities	1,675			4,483
		Purchase of marketable securities	(24,278		)	(23,123		)
		Proceeds from sale of marketable securities	21,441			25,197
	Net cash used in investing activities		(189,068		)	(200,832		)
	Financing activities:
		Repayment of debt obligations and financing liabilities	(1,122,118		)	(1,086,241		)
		Repayment of borrowings under unsecured revolving credit facility	(1,118,475		)	(720,047		)
		Proceeds from borrowings under unsecured revolving credit facility	1,015,000			1,119,343
		Proceeds from unsecured term loan and notes	1,188,146			600,000
		Deferred financing costs	(3,159		)	(2,995		)
		Distributions to common stockholders	(268,281		)	(173,147		)
		Distributions to non-controlling interests	(26,314		)	(68,611		)
		Repurchase of common shares in conjunction with equity award plans	(823		)	—
	Net cash used in financing activities		(336,024		)	(331,698		)
	Change in cash and cash equivalents		8,933			(53,320		)
	Cash and cash equivalents at beginning of period		$	60,595		$	113,915
	Cash and cash equivalents at end of period		$	69,528		$	60,595
	Supplemental disclosure of cash flow information:
		Cash paid for interest, net of amount capitalized of $2,749 and $4,047	$	244,067		$	282,639
		State taxes paid	2,278			1,889
	Supplemental non-cash investing and/or financing activities:
		Net carrying value of properties distributed to non-controlling owners	$	—		$	178,969
		Assumed mortgage debt through acquisition	7,000			—

Supplemental Disclosure - Three Months Ended December 31, 2015 Page 7

RECONCILIATION OF NET INCOME TO EBITDA
Unaudited, dollars in thousands
			Actual Results							Actual Results				Pro Forma			Actual Results
			Three Months Ended							Twelve Months Ended							Twelve Months
			12/31/15				12/31/14			12/31/15				12/31/14			Ended 12/31/14
	Net income		$	56,414			$	25,949		$	197,536			$	111,886		$	132,851
		Interest expense - continuing operations	58,723				63,348			245,012				262,812			262,812
		Interest expense - discontinued operations	—				—			—				—			259
		Interest expense - unconsolidated joint ventures	43				44			172				172			174
		Federal and state taxes	524				920			(561		)		3,870			3,870
		Depreciation and amortization - continuing operations	102,511				107,706			417,935				441,630			441,630
		Depreciation and amortization - discontinued operations	—				15			—				175			606
		Depreciation and amortization - unconsolidated joint ventures	26				22			85				86			168
	EBITDA		$	218,241			$	198,004		$	860,179			$	820,631		$	842,370
	EBITDA		$	218,241			$	198,004		$	860,179			$	820,631		$	842,370
		Gain on disposition of operating properties	(2,520		)		(745		)	(11,744		)		(378		)	(15,549		)
		Gain on disposition of unconsolidated joint ventures	—				—			—				—			(1,820		)
		(Gain) loss on extinguishment of debt, net	(798		)	—	11,187			(1,720		)	—	13,761			7,686
		Impairment of real estate assets	198				—			1,005				—			—
		Non-operating items (1)	2,169				3,939			14,137				7,536			7,536
		Adjustments to non-controlling interests not convertible into common     stock	—				(215		)	—				(1,181		)	(596		)
		Total adjustments	(951		)		14,166			1,678				19,738			(2,743		)
	Adjusted EBITDA		217,290			—	212,170			861,857				840,369			839,627
		Straight-line rent	(3,773		)		(5,401		)	(17,595		)		(20,026		)	(19,971		)
		Above- and below-market rent amortization	(13,390		)		(10,446		)	(47,757		)		(45,525		)	(45,536		)
		Adjustments to non-controlling interests not convertible into common     stock	—				—			—				—			(37		)
		Total adjustments	(17,163		)		(15,847		)	(65,352		)		(65,551		)	(65,544		)
	Cash adjusted EBITDA		$	200,127			$	196,323		$	796,505			$	774,818		$	774,083
	(1) Non-operating items
		Executive severance expenses	$	1,405			$	1,504		$	1,405			$	1,504		$	1,504
		Property acquisition related expenses	652				—			2,139				—			—
		Shareholder equity offering expenses	112				1,661			718				2,834			2,834
		Non-recurring charge related to pre-IPO compensation programs	—				774			9,875				774			774
		Corporate office lease termination expenses	—				—			—				2,424			2,424
			$	2,169			$	3,939		$	14,137			$	7,536		$	7,536

Supplemental Disclosure - Three Months Ended December 31, 2015 Page 8

RECONCILIATION OF NET INCOME TO FFO
Unaudited, dollars in thousands, except per share amounts
				Actual Results						Actual Results				Pro Forma			Actual Results
				Three Months Ended						Twelve Months Ended							Twelve Months
				12/31/15			12/31/14			12/31/15				12/31/14			Ended 12/31/14
	Net income			$	56,414		$	25,949		$	197,536			$	111,886		$	132,851
		Gain on disposition of operating properties		(2,520		)	(745		)	(11,744		)		(378		)	(15,549		)
		Gain on disposition of unconsolidated joint ventures		—			—			—				—			(1,820		)
		Depreciation and amortization- real estate related- continuing     operations		101,833			106,439			413,470				438,565			438,565
		Depreciation and amortization- real estate related- discontinued     operations		—			15			—			—	175			606
		Depreciation and amortization- real estate related- unconsolidated     joint ventures		26			22			85			—	86			168
		Impairment of operating properties		—			—			807				—			—
	NAREIT FFO			155,753			131,680			600,154				550,334			554,821
		Adjustments attributable to non-controlling interests not convertible     into common stock		—			(215		)	—				(1,181		)	(6,415		)
	NAREIT FFO attributable to stockholders and non-controlling interests     convertible into common stock			$	155,753		$	131,465		$	600,154			$	549,153		$	548,406
	NAREIT FFO per share/OP Unit - diluted			$	0.51		$	0.43		$	1.97			$	1.80		$	1.80
	Weighted average shares/OP Units outstanding - basic and diluted (1)			305,105			304,447			305,023				304,359			304,359
	Items that impact FFO comparability
			Non-recurring charge related to pre-IPO compensation programs	$	—		$	—		$	(9,875	)		$	—		$	—
			Adjustment of tax reserves for pre-IPO transactions	781			—			4,730				—			—
			Property acquisition expenses	(652		)	—			(2,139		)		—			—
			Gain (loss) on extinguishment of debt, net	798			(11,187		)	1,720				(13,761		)	(7,686		)
		Total items that impact FFO comparability		$	927		$	(11,187	)	$	(5,564	)		$	(13,761	)	$	(7,686	)
		Items that impact FFO comparability, net per share		$	0.00		$	(0.04	)	$	(0.02	)		$	(0.05	)	$	(0.03	)
	Dividends declared per share/OP Unit			$	0.245		$	0.225		$	0.920			$	0.825		$	0.825
	Shares/OP Unit dividends declared			$	74,570		$	68,456		$	279,968			$	250,994		$	250,994
	Share/OP Unit dividend payout ratio (as % of NAREIT FFO)			47.9		%	52.1		%	46.6		%		45.7		%	45.8		%
(1) Basic and diluted shares/OP Units outstanding reflects an assumed conversion of certain BPG Sub shares and OP Units to common stock of the Company and the vesting of certain restricted stock awards.

Supplemental Disclosure - Three Months Ended December 31, 2015 Page 9

SUPPLEMENTAL BALANCE SHEET DETAIL
Unaudited, dollars in thousands
				12/31/15			12/31/14
	Real estate, net
		Land		$	2,011,947		$	2,000,415
		Buildings and improvements
			Building	7,359,342			7,332,073
			Building and tenant improvements	637,774			522,601
			Construction in process (anchor space repositioning and redevelopment only)	46,209			29,750
			Lease intangibles	877,578			917,410
				10,932,850			10,802,249
		Accumulated depreciation and amortization		(1,880,685		)	(1,549,234		)
			Total real estate, net	$	9,052,165		$	9,253,015
	Receivables, net
		Straight-line rent receivable		$	87,417		$	67,771
		Tenant receivables		100,769			115,802
		Allowance for doubtful accounts		(16,587		)	(14,070		)
		Other		8,887			12,921
		Total receivables, net		$	180,486		$	182,424
	Deferred charges and prepaid expenses, net
		Deferred charges, net		$	88,998		$	67,539
		Prepaid expenses, net		20,151			26,730
		Total deferred charges and prepaid expenses, net		$	109,149		$	94,269
	Other assets
		Furniture, fixtures and leasehold improvements, net		$	15,148		$	10,921
		Other		2,049			2,138
		Total other assets		$	17,197		$	13,059
	Accounts payable, accrued expenses and other liabilities
		Accounts payable and accrued expenses		$	213,964		$	239,287
		Dividends payable		75,973			68,821
		Below market leases, net		268,573			325,935
		Other		44,929			45,059
		Total accounts payable, accrued expenses and other liabilities		$	603,439		$	679,102

Supplemental Disclosure - Three Months Ended December 31, 2015 Page 10

NOI DETAIL, SUPPLEMENTAL STATEMENT OF OPERATIONS DETAIL, OPERATING RATIOS & ADDITIONAL DISCLOSURES
Unaudited, dollars in thousands
			Actual Results						Actual Results			Pro Forma			Actual Results
			Three Months Ended						Twelve Months Ended						Twelve Months
			12/31/15			12/31/14			12/31/15			12/31/14			Ended 12/31/14
	Net Operating Income Detail
		Rental income	$	251,119		$	242,740		$	984,548		$	960,715		$	960,715
		Expense reimbursements	75,462			70,306			276,032			268,035			268,035
		Percentage rents	(1,484		)	1,215			3,567			5,836			5,836
		Operating costs	(35,698		)	(33,592		)	(129,477		)	(129,148		)	(129,148		)
		Real estate taxes	(47,276		)	(46,911		)	(180,911		)	(179,504		)	(179,504		)
		Provision for doubtful accounts	(2,567		)	(2,920		)	(9,540		)	(11,537		)	(11,537		)
	Net operating income		239,556			230,838			944,219			914,397			914,397
	Reconciliation of net operating income to net income attributable to common stockholders
		Fee income	$	454		$	344		$	1,833		$	2,013		$	2,013
		Depreciation and amortization	(102,511		)	(107,706		)	(417,935		)	(441,630		)	(441,630		)
		Impairment of real estate assets	(198		)	—			(1,005		)	—			—
		General and administrative	(25,424		)	(20,954		)	(98,454		)	(80,175		)	(80,175		)
		Total other expense	(55,564		)	(77,467		)	(231,581		)	(284,024		)	(284,024		)
		Equity in income of unconsolidated joint ventures	101			123			459			438			370
		Gain on disposition of investments in unconsolidated joint ventures	—			—			—			—			1,820
		Income from discontinued operations	—			771			—			867			20,080
		Net income attributable to non-controlling interests	(1,002		)	(2,851		)	(3,816		)	(22,832		)	(43,849		)
		Preferred stock dividends	(150		)	(150		)	(150		)	(150		)	(150		)
	Net income attributable to common stockholders		$	55,262		$	22,948		$	193,570		$	88,904		$	88,852
	Supplemental Statement of Operations Detail
	Rental income
		Base rent	$	227,434		$	222,244		$	897,982		$	879,030		$	879,030
		Lease termination fees	1,264			946			3,530			2,727			2,727
		Straight-line rent	3,773			5,401			17,595			20,026			20,026
		Above- and below-market rent amortization, net	13,390			10,446			47,757			45,518			45,518
		Ancillary and other	5,258			3,703			17,684			13,414			13,414
		Total rental income	$	251,119		$	242,740		$	984,548		$	960,715		$	960,715
	Other revenues
		Percentage rents	$	(1,484	)	$	1,215		$	3,567		$	5,836		$	5,836
		Fee income	454			344			1,833			2,013			2,013
		Total other revenues	$	(1,030	)	$	1,559		$	5,400		$	7,849		$	7,849
	Interest expense
		Mortgage and note interest, excluding capitalized interest	$	48,566		$	53,799		$	207,196		$	226,506		$	226,506
		Unsecured credit facility and term loan interest	12,802			13,725			50,328			52,166			52,166
		Capitalized interest	(618		)	(1,270		)	(2,749		)	(4,043		)	(4,043		)
		Deferred financing cost amortization	2,065			1,982			8,302			8,691			8,691
		Debt premium and discount amortization, net	(4,092		)	(4,888		)	(18,065		)	(20,508		)	(20,508		)
		Total interest expense	$	58,723		$	63,348		$	245,012		$	262,812		$	262,812
	Other
		Federal and state taxes	$	524		$	920		$	(561	)	$	3,870		$	3,870
		Other (1)	(291		)	2,178			909			4,561			4,561
		Total other	$	233		$	3,098		$	348		$	8,431		$	8,431
	Operating Ratios
		NOI margin (NOI / total rental revenues) (2)(3)	73.7		%	73.5		%	74.7		%	74.1		%	74.1		%
		Expense recovery ratio (expense reimbursements / (operating costs + real estate taxes))	90.9		%	87.3		%	88.9		%	86.8		%	86.8		%
	Additional Disclosures
		Equity based compensation (4)	3,972			2,433			23,331			9,452			9,452
		Capitalized direct leasing compensation costs	3,899			3,622			15,130			15,126			15,126
		Capitalized direct construction compensation costs	1,668			1,479			6,271			5,842			5,842
(1) Includes property acquisition related expenses of $652 and $2,139 for the three and twelve months ended December 31, 2015, respectively.
(2) NOI excludes unconsolidated joint venture Montecito Marketplace NOI of $185 and $752 at pro rata share for the three and twelve months ended December 31, 2015, respectively.
(3) NOI includes straight-line rents and above- and below-market rent amortization, net.
(4) Includes a non-recurring charge related to pre-IPO compensation programs of $9,875 for the twelve months ended December 31, 2015.

Supplemental Disclosure - Three Months Ended December 31, 2015 Page 11

SAME PROPERTY NOI ANALYSIS & RECONCILIATION OF NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS
Unaudited, dollars in thousands
			Twelve Months Ended
			12/31/15			12/31/14			Change
	Same Property NOI Analysis
	Number of properties		516			516			—
	Percent billed		90.9		%	91.2		%	(0.3%)
	Percent leased		92.6		%	92.8		%	(0.2%)
	Revenues
		Rental income	$	912,918		$	889,225
		Expense reimbursements	275,622			267,367
		Percentage rents	3,606			5,829
			1,192,146			1,162,421			2.6%
	Operating expenses
		Operating costs	(132,028		)	(128,982		)
		Real estate taxes	(180,549		)	(178,656		)
		Provision for doubtful accounts	(9,418		)	(11,542		)
			(321,995		)	(319,180		)	0.9%
	Same property NOI		$	870,151		$	843,241		3.2%
	Same property NOI excluding redevelopments (1)		$	855,850		$	830,055		3.1%
	NOI margin (2)		73.0		%	72.5		%	0.6%
	Expense recovery ratio		88.2		%	86.9		%	1.5%
	Percent contribution to same property NOI growth:
			Change			Percent Change
		Rent growth	$	23,693		2.8%
		Net recoveries	3,316			0.4%
		Other revenues	(2,223		)	(0.3)%
		Provision for doubtful accounts	2,124			0.3%
						3.2%
	Reconciliation of Net Income Attributable to Common Stockholders to Same Property NOI
	Net income attributable to common stockholders		$	193,570		$	88,852
	Adjustments:
		Revenue adjustments (3)	(75,208		)	(74,189		)
		Depreciation and amortization	417,935			441,630
		Impairment of real estate assets	1,005			—
		General and administrative	98,454			80,175
		Total other expense	231,581			284,024
		Equity in income of unconsolidated joint ventures	(459		)	(370		)
		Gain on disposition of investments in unconsolidated joint ventures	—			(1,820		)
		Pro rata share of same property NOI of unconsolidated joint ventures	752			737
		Income from discontinued operations	—			(20,080		)
		Net income attributable to non-controlling interests	3,816			43,849
		Preferred stock dividends	150			150
		Non-same property NOI	(1,445		)	283
	Same property NOI		$	870,151		$	843,241
	Impact of redevelopments		(14,301		)	(13,186		)
	Same property NOI excluding redevelopments (1)		$	855,850		$	830,055
(1) Excludes three redevelopment properties for the twelve months ended December 31, 2015 and December 31, 2014.
(2) NOI excludes lease termination income, straight-line rents and above- and below-market rent amortization, net.
(3) Includes adjustments for lease termination income, straight-line rents, above-and below- market rent amortization, net and fee income from managed properties and unconsolidated joint ventures.

Supplemental Disclosure - Three Months Ended December 31, 2015 Page 12

CAPITAL EXPENDITURES
Unaudited, dollars in thousands
			Three Months		Twelve Months
			Ended 12/31/15		Ended 12/31/15
	Leasing related:
		Anchor space repositioning and redevelopment	$	29,797	$	107,612
		Tenant improvements	12,090		54,072
		External leasing commissions	1,070		6,591
			42,957		168,275
	Maintenance capital expenditures		9,187		24,518
			$	52,144	$	192,793

Supplemental Disclosure - Three Months Ended December 31, 2015 Page 13

CAPITALIZATION, LIQUIDITY & DEBT RATIOS
Unaudited, dollars in thousands
						12/31/15			12/31/14
	Debt:
		Revolving credit facility				$	416,000		$	519,475
		Term loans				2,100,000			2,100,000
		Unsecured notes				1,218,453			243,453
		Secured mortgages				2,226,763			3,116,882
	Total principal debt					5,961,216			5,979,810
	Add: Net unamortized premium					35,832			63,187
	Less: Deferred financing fees					(22,782		)	(20,489		)
	Total debt					5,974,266			6,022,508
	Less: cash, cash equivalents and restricted cash					(110,990		)	(113,759		)
	Net debt					5,863,276			5,908,749
	Equity:
		Stockholders' equity				2,869,783			2,903,710
		Non-controlling interests				50,519			76,593
	Total equity					2,920,302			2,980,303
	Total capitalization					$	8,783,578		$	8,889,052
	Outstanding classes of stock and partnership units:
		Common shares outstanding				299,138			296,552
		Exchangeable OP Units held by non-controlling interests				5,182			7,695
						304,320			304,247
	Liquidity:
		Cash and cash equivalents and restricted cash				$	110,990		$	113,759
		Available under unsecured credit facility				834,000			730,525
						$	944,990		$	844,284
	Ratios:
		Principal debt to total market capitalization (1)				43.1		%	44.2		%
		Principal debt to total assets, before depreciation (consolidated portfolio only)				52.4		%	53.1		%
		Secured principal debt to total assets, before depreciation				19.6		%	27.7		%
		Net principal debt to adjusted EBITDA (GAAP)				6.7x			6.9x
		Net principal debt to adjusted EBITDA (cash)				7.3x			7.5x
		Unencumbered assets to unsecured debt				1.9x			2.0x
		Interest coverage (adjusted EBITDA / interest expense)				3.7x			3.3x
		Debt service coverage (adjusted EBITDA / (interest expense + scheduled principal payments))				3.3x			3.0x
		Fixed charge coverage (adjusted EBITDA / (interest expense + scheduled principal payments +     preferred dividends))				3.3x			3.0x
						12/31/15
		Percentage of total debt:
			Fixed			83.0		%
			Floating			17.0		%
		Unencumbered summary:
			Percent of properties			62.9		%
			Percent of NOI			61.7		%
		Weighted average maturity (years):
			Fixed			4.05
			Floating			2.55
			Total			3.79
	Credit Ratings & Outlook:
		Fitch Ratings		BBB-	Stable
		Moody's Investors Service		Baa3	Negative
		Standard & Poor's Ratings Services		BBB-	Credit Watch Negative
(1) Market capitalization based on the December 31, 2015 closing stock price of $25.82.

Supplemental Disclosure - Three Months Ended December 31, 2015 Page 14

DEBT OVERVIEW
Unaudited, dollars in thousands
	Maturity Schedule - Debt obligations
			Year				Scheduled Amortization			Scheduled Maturities		Total			Weighted Avg Interest Rate on Scheduled Maturities
			2016				$	22,122		$	855,578	$	877,700		5.57		%
			2017				21,842			743,817		765,659			3.75		%
			2018				19,476			1,500,000		1,519,476			2.24		%
			2019				20,126			600,000		620,126			1.65		%
			2020				15,212			751,365		766,577			6.17		%
			2021				—			186,225		186,225			6.24		%
			2022				—			500,000		500,000			3.88		%
			2023+				—			725,453		725,453			3.94		%
			Total Debt Maturities (1)				$	98,778		$	5,862,438	$	5,961,216		3.84		%
							Net unamortized discount on notes					(4,676		)
							Net unamortized premiums on mortgages					40,508
							Deferred financing costs					(22,782		)
							Debt obligations, net					$	5,974,266
	Detailed Maturity Schedule - Debt obligations
			Fixed Rate Secured Mortgages							Fixed Rate Unsecured Notes (2)					Variable Rate Unsecured Credit Facility / Fixed Rate Unsecured Credit Facility (2)
		Year	Scheduled Amortization		Scheduled Maturities		Weighted Avg Interest Rate on Scheduled Maturities			Scheduled Maturities		Weighted Avg Interest Rate on Scheduled Maturities			Scheduled Maturities			Weighted Avg Interest Rate on Scheduled Maturities
		2016	$	22,122	$	855,578	5.57		%	$	—	—			$	—		—
		2017	21,842		327,817		6.43		%	—		—			416,000			1.65	%
		2018	19,476		—		—			—		—			1,500,000			2.24	%
		2019	20,126		—		—			—		—			600,000			1.65	%
		2020	15,212		751,365		6.17		%	—		—			—			—
		2021	—		186,225		6.24		%	—		—			—			—
		2022	—		—		—			500,000		3.88		%	—			—
		2023+	—		7,000		4.40		%	718,453		3.94		%	—			—
		Total Debt Maturities	$	98,778	$	2,127,985	5.86		%	$	1,218,453	3.91		%	$	2,516,000		2.00	%
(1) Excludes unconsolidated joint venture debt obligations of $2,880 at pro rata share.
(2) No scheduled amortization until maturity dates.

Supplemental Disclosure - Three Months Ended December 31, 2015 Page 15

SUMMARY OF OUTSTANDING DEBT
Unaudited, dollars in thousands
				Number of	Outstanding		Actual		Maturity	Percent of
	Loan / Property Name		MSA	Properties	Balance		Interest Rate		Date	Total Indebtedness
	FIXED RATE DEBT:
		Secured Mortgages
		Chicopee Marketplace	Springfield, MA	1	$	17,415	5.97	%	6/1/16	0.29	%
		Cobblestone Village	Miami-Fort Lauderdale-West Palm Beach, FL	1	9,994		5.97	%	6/1/16	0.17	%
		Springdale	Mobile, AL	1	36,907		5.97	%	6/1/16	0.62	%
		Wilkes-Barre Township Marketplace	Scranton--Wilkes-Barre--Hazleton, PA	1	10,613		5.97	%	6/1/16	0.18	%
		Fashion Square	Jacksonville, FL	1	7,517		5.97	%	6/1/16	0.13	%
		REIT 7 LP 86	—	7	86,000		6.32	%	8/1/16	1.44	%
		REIT 16 LP 220	—	14	220,936		5.39	%	11/1/16	3.71	%
		REIT 14 LP 226	—	15	226,109		5.44	%	12/1/16	3.79	%
		REIT 15 LP 233	—	15	233,977		5.44	%	12/9/16	3.93	%
		Dublin Village	Dublin, GA	1	6,214		5.78	%	12/11/16	0.10	%
		Conyers Plaza I *	Atlanta-Sandy Springs-Roswell, GA	1	10,800		5.77	%	1/1/17	0.18	%
		Freshwater - Stateline Plaza	Hartford-West Hartford-East Hartford, CT	1	17,705		8.00	%	2/1/17	0.30	%
		Greensboro Village	Nashville-Davidson--Murfreesboro--Franklin, TN	1	8,754		5.52	%	2/11/17	0.15	%
		LP - JPM 300	—	18	288,935		6.38	%	9/1/17	4.85	%
		Whitaker Square	Winston-Salem, NC	1	9,016		6.32	%	12/1/17	0.15	%
		Christmas Tree Plaza	New Haven-Milford, CT	1	2,759		7.89	%	5/11/18	0.05	%
		LP - JPM CMBS	—	72	452,436		6.27	%	8/1/20	7.59	%
		Monroe ShopRite Plaza	New York-Newark-Jersey City, NY-NJ-PA	1	8,320		6.50	%	8/1/20	0.14	%
		Bethel Park Shopping Center	Pittsburgh, PA	1	9,668		6.50	%	8/1/20	0.16	%
		Ivyridge	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	1	13,487		6.50	%	8/1/20	0.23	%
		Roosevelt Mall	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	1	48,079		6.50	%	8/1/20	0.81	%
		Inland (Brixmor/IA, LLC) - Pool A	—	9	99,971		5.91	%	12/6/20	1.68	%
		Inland (Brixmor/IA, LLC) - Pool B	—	8	91,562		5.91	%	12/6/20	1.54	%
		Inland (Brixmor/IA, LLC) - Pool C	—	7	98,098		5.91	%	12/31/20	1.65	%
		REIT 20 LP 51 A	—	4	47,455		6.24	%	1/6/21	0.80	%
		REIT 20 LP 45 B	—	4	42,662		6.24	%	1/6/21	0.72	%
		REIT 20 LP 42 C	—	5	39,883		6.24	%	1/6/21	0.67	%
		REIT 20 LP 37 D	—	3	34,441		6.24	%	1/6/21	0.58	%
		REIT 20 LP 43 E	—	4	40,050		6.24	%	1/6/21	0.67	%
		Larchmont Centre	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	1	7,000		4.40	%	3/1/24	0.12	%
		TOTAL FIXED RATE SECURED MORTGAGES			2,226,763					37.35	%
		Unsecured Credit Facility
		Term Loan Facility (1)	—	—	$	1,500,000	2.24	%	7/31/18	25.16	%
		TOTAL FIXED RATE UNSECURED CREDIT FACILITY			1,500,000					25.16	%
		Unsecured Notes
		3.88%, 2022 Brixmor OP Notes	—	—	$	500,000	3.88	%	8/15/22	8.39	%
		3.85%, 2025 Brixmor OP Notes	—	—	700,000		3.85	%	2/28/25	11.74	%
		7.97%, 2026 Brixmor LLC Notes	—	—	694		7.97	%	8/14/26	0.01	%
		7.65%, 2026 Brixmor LLC Notes	—	—	6,100		7.65	%	11/2/26	0.10	%
		7.68%, 2026 Brixmor LLC Notes I	—	—	748		7.68	%	11/2/26	0.01	%
		6.90%, 2028 Brixmor LLC Notes I	—	—	2,222		6.90	%	2/15/28	0.04	%
		6.90%, 2028 Brixmor LLC Notes II	—	—	5,486		6.90	%	2/15/28	0.09	%
		7.50%, 2029 Brixmor LLC Notes	—	—	3,203		7.50	%	7/30/29	0.05	%
		TOTAL FIXED RATE UNSECURED NOTES			1,218,453					20.44	%

Supplemental Disclosure - Three Months Ended December 31, 2015 Page 16

SUMMARY OF OUTSTANDING DEBT
Unaudited, dollars in thousands
					Number of	Outstanding			Actual		Maturity	Percent of
	Loan / Property Name		MSA		Properties	Balance			Interest Rate		Date	Total Indebtedness
		TOTAL FIXED RATE DEBT				$	4,945,216					82.96	%
	VARIABLE RATE DEBT:
		Unsecured Credit Facility
		Revolving Credit Facility - L+140bps	—		—	$	416,000		1.65	%	7/31/17	6.98	%
		Term Loan Facility - L+140bps	—		—	600,000			1.65	%	3/18/19	10.07	%
		TOTAL VARIABLE RATE UNSECURED CREDIT FACILITY				1,016,000						10.41	%
		TOTAL VARIABLE RATE DEBT				$	1,016,000					17.04	%
		TOTAL DEBT OBLIGATIONS				$	5,961,216					100.00	%
				Net unamortized discount on notes		(4,676		)
				Net unamortized premiums on mortgages		40,508
				Deferred financing costs		(22,782		)
				DEBT OBLIGATIONS, NET		$	5,974,266
* Indicates property is part of a larger shopping center.
(1) Term loan facility has been swapped from 1 month Libor to fixed at a combined rate of 0.844% (spread of 140bps).

Supplemental Disclosure - Three Months Ended December 31, 2015 Page 17

UNSECURED OP NOTES COVENANT DISCLOSURE
Unaudited, dollars in thousands
					Covenants	As of 12/31/15
		I. Aggregate debt test			< 65%	53.4	%
			Total Debt			5,974,266
			Total Assets			11,197,971
		II. Secured debt test			< 40%	20.2	%
			Total Secured Debt			2,265,519
			Total Assets			11,197,971
		III. Unencumbered asset ratio			> 150%	187.1	%
			Total Unencumbered Assets			6,940,481
			Unsecured Debt			3,708,747
		IV. Debt service test			> 1.5x	3.8x
			Consolidated EBITDA			865,772
			Annual Debt Service Charge			229,258
	Definitions for unsecured notes covenants:
	Debt:			Debt means, with respect to any person, any:
				• indebtedness of such person in respect of borrowed money or evidenced by bonds, notes, debentures or similar instruments,
				• indebtedness secured by any Lien on any property or asset owned by such person, but only to the extent of the lesser of (a) the amount of indebtedness
				so secured and (b) the fair market value (determined in good faith by the Operating Partnership) of the property subject to such Lien,
				• reimbursement obligations, contingent or otherwise, in connection with any letters of credit actually issued or amounts representing the balance deferred
				and unpaid of the purchase price of any property except any such balance that constitutes an accrued expense or trade payable, or
				• any lease of property by such person as lessee which is required to be reflected on such person’s balance sheet as a capitalized lease in accordance
				with GAAP;
				in the case of items of indebtedness under (i) through (iii) above to the extent that any such items (other than letters of credit) would appear as liabilities
				on such person’s balance sheet in accordance with GAAP; provided, however, that the term “Debt” will (1) include, to the extent not otherwise included,
				any non-contingent obligation of such person to be liable for, or to pay, as obligor, guarantor or otherwise (other than for purposes of collection in the
				ordinary course of business), Debt of the types referred to above of another person, other than obligations to be liable for the Debt of another person solely
				as a result of non-recourse carveouts (it being understood that Debt shall be deemed to be incurred by such person whenever such person shall create,
				assume, guarantee or otherwise become liable in respect thereof) and (2) exclude any such indebtedness (or obligation referenced in clause (1) above)
				that has been the subject of an “in substance” defeasance in accordance with GAAP and Intercompany Indebtedness that is subordinate in right of
				payment to the notes (or an obligation to be liable for, or to pay, Intercompany Indebtedness that is subordinate in right of payment to the notes).
	Total Assets:			The sum of, without duplication: (i) Undepreciated Real Estate Assets and (ii) all other assets (excluding accounts receivable and non-real estate intangibles)
				of Brixmor OP and its Subsidiaries, all determined on a consolidated basis in accordance with GAAP.
	Total Unencumbered Assets:			The sum of, without duplication: (i) those Undepreciated Real Estate Assets which are not subject to a Lien securing Debt; and (ii) all other assets (excluding
				accounts receivable and non-real estate intangibles) of us and our Subsidiaries not subject to a Lien securing Debt, all determined on a consolidated basis
				in accordance with GAAP; provided, however, that, in determining Total Unencumbered Assets as a percentage of outstanding Unsecured Debt for
				purposes of the covenant set forth above in “Certain Covenants—Maintenance of Total Unencumbered Assets,” all investments in unconsolidated limited
				partnerships, unconsolidated limited liability companies and other unconsolidated entities shall be excluded from Total Unencumbered Assets.
	Unsecured Debt:			Debt of Brixmor OP or any of its Subsidiaries which is not secured by a Lien on any property or assets of Brixmor OP or any of its Subsidiaries.
	Consolidated EBITDA:			For any period means Consolidated Net Income of Brixmor OP and its Subsidiaries for such period, plus amounts which have been deducted and minus
				amounts which have been added for, without duplication: (i) interest expense on Debt; (ii) provision for taxes based on income; (iii) amortization of debt
				discount, premium and deferred financing costs; (iv) the income or expense attributable to transactions involving derivative instruments that do not qualify
				for hedge accounting in accordance with GAAP; (v) impairment losses and gains on sales or other dispositions of properties and other investments;
				(vi) depreciation and amortization; (vii) net amount of extraordinary items or non-recurring items, as may be determined by us in good faith;
				(viii) amortization of deferred charges; (ix) gains or losses on early extinguishment of debt; and (x) noncontrolling interests; all determined on a
				consolidated basis in accordance with GAAP.
	Annual Debt Service Charge:			For any period, the interest expense of Brixmor OP and its Subsidiaries for such period, determined on a consolidated basis in accordance with GAAP.
	Note: For full detailed descriptions of the OP Unsecured Notes Covenant calculations and definitions of capitalized terms please refer to the Prospectus Supplement filed by the OP with the
	Securities and Exchange Commission on January 15, 2015.

Supplemental Disclosure - Three Months Ended December 31, 2015 Page 18

UNSECURED CREDIT FACILITY COVENANT DISCLOSURE
Unaudited, dollars in thousands
					Covenants	As of 12/31/15
		I. Leverage ratio			< 60%	44.3	%
			Total Outstanding Indebtedness			5,964,096
			Balance Sheet Cash			112,679
			Total Asset Value			13,214,937
		II. Secured leverage ratio			< 40%	16.0	%
			Total Secured Indebtedness			2,229,643
			Balance Sheet Cash			112,679
			Total Asset Value			13,214,937
		III. Unsecured leverage ratio			< 60%	44.8	%
			Total Unsecured Indebtedness			3,734,453
			Unrestricted Cash			71,217
			Unencumbered Asset Value			8,180,561
		IV. Fixed charge coverage ratio			> 1.5x	3.5x
			Total Net Operating Income			921,780
			Capital Expenditure Reserve			13,033
			Fixed Charges			260,413
	Definitions for line of credit covenants:
	Total Outstanding Indebtedness:			Total Indebtedness including capital leases, financing liabilities, redeemable non-controlling interests, letters of credit, guarantee obligations, and the Company's applicable share of joint venture Indebtedness.
	Balance Sheet Cash:			Cash and cash equivalents, Restricted cash, and certain Marketable securities.
	Total Asset Value:			An amount equal to the sum of the following for the Company and the Company's applicable share of its joint ventures: (i) Net Operating Income from Stabilized Projects for the most recent six months annualized divided by 7.00%, (ii) the amount of Management Fees received by the Company for the most recent six months annualized divided by 7.00%, (iii) Acquisition Assets valued at the higher of their capitalization value (Net Operating Income for the most recent six months annualized divided by 7.00%) or acquisition cost, (iv) undepreciated Book Value of Land, (v) undepreciated Book Value of Assets Under Development, (vi) undepreciated Book Value of Non-Stabilized Projects, (vii) value of Mezzanine Debt Investments, (viii) value of all First Mortgage Receivables. The aggregate contributions to Total Asset Value from items (v), (vi), and (vii) above shall not exceed 35% of Total Asset Value.
	Total Secured Indebtedness:			All indebtedness that is secured by a lien on any asset.
	Total Unsecured Indebtedness:			All Indebtedness that is not Secured Indebtedness.
	Unrestricted Cash:			Cash and cash equivalents, and certain marketable securities but excluding restricted cash.
	Unencumbered Asset Value:			Total Asset Value from Unencumbered Assets.
	Unencumbered Assets:			Any acquisition asset, land, operating property and any asset under development located in the Unites States which, as of any date of determination is not subject to any liens, claims, or restrictions on transferability or assignability of any kind other than (i) permitted encumbrances or liens in favor of the administrative agent and (ii) customary restrictions on transferability that result in a change of control or that trigger a right of first offer or right of first refusal.
	Total Net Operating Income:			For the Company and the Company's applicable share of its joint ventures, as determined in accordance with GAAP, an amount equal to (i) the aggregate rental income and other revenues from the operation of all real estate assets, including from straight-lined rent and amortization of above- and below-market leases minus (ii) all expenses and other charges incurred in connection with the operation of such real estate assets but excluding the payment of or provision for debt service charges, income taxes, capital expenses, depreciation, amortization and other non-cash expenses.
	Fixed Charges:			For any period, the sum of (i) total interest expense, (ii) all scheduled principal payments due on account of total outstanding indebtedness (excluding balloon payments) and (iii) all dividends payable on account of preferred stock or preferred operating partnership units of the borrower or any other person in the consolidated group.
	Capital Expenditure Reserve:			For any Operating Property, an amount equal to (i) $0.15 multiplied by (ii) the number of square feet of such Operating Property.
	Note: For full detailed descriptions of the Credit Facility Covenant calculations and definitions of capitalized terms please refer to the Revolving Credit and Term Loan Agreement, dated as of July 16, 2013 filed as Exhibit 10.6 to Amendment No. 1 to Form S-11, filed with the Securities and Exchange Commission on August 23, 2013.

Supplemental Disclosure - Three Months Ended December 31, 2015 Page 19

RECONCILIATION OF GAAP STATEMENTS OF OPERATIONS TO PRO FORMA
STATEMENTS OF OPERATIONS
Unaudited, dollars in thousands, except per share amounts
				Twelve Months Ended 12/31/14
				Actual Results			Adjustments (1)			Pro Forma
	Revenues
		Rental income		$	960,715		$	—		$	960,715
		Expense reimbursements		268,035			—			268,035
		Other revenues		7,849			—			7,849
	Total revenues			1,236,599			—			1,236,599
	Operating expenses
		Operating costs		129,148			—			129,148
		Real estate taxes		179,504			—			179,504
		Depreciation and amortization		441,630			—			441,630
		Provision for doubtful accounts		11,537			—			11,537
		General and administrative		80,175			—			80,175
	Total operating expenses			841,994			—			841,994
	Other income (expense)
		Dividends and interest		602			—			602
		Interest expense		(262,812		)	—			(262,812		)
		Gain on sale of real estate assets		378			—			378
		Loss on extinguishment of debt, net		(13,761		)	—			(13,761		)
		Other		(8,431		)	—			(8,431		)
	Total other expense			(284,024		)	—			(284,024		)
	Income before equity in income of unconsolidated joint ventures			110,581			—			110,581
	Equity in income of unconsolidated joint ventures			370			68			438
	Gain on disposition of investments in unconsolidated joint ventures			1,820			(1,820		)	—
	Income from continuing operations			112,771			(1,752		)	111,019
	Discontinued operations
		Income from discontinued operations		4,909			(4,787		)	122
		Gain on disposition of operating properties		15,171			(14,426		)	745
	Income from discontinued operations			20,080			(19,213		)	867
	Net income			132,851			(20,965		)	111,886
		Net income attributable to non-controlling interests		(43,849		)	21,017			(22,832		)
	Net income attributable to Brixmor Property Group, Inc.			89,002			52			89,054
	Preferred stock dividends			(150		)	—			(150		)
	Net income attributable to common stockholders			$	88,852		$	52		$	88,904
	Per common share:
		Income from continuing operations:
			Basic	$	0.36		$	—		$	0.36
			Diluted	$	0.36		$	—		$	0.36
		Net income attributable to common stockholders:
			Basic	$	0.36		$	—		$	0.36
			Diluted	$	0.36		$	—		$	0.36
		Weighted average number of vested common shares:
			Basic	243,390			—			243,390
			Diluted	244,588			—			244,588
(1) Reflects the impact associated with the distribution of 36 of the Excluded Properties during the first quarter of 2014. The pro forma adjustments assume that the distribution of the properties
was completed as of January 1, 2014.

Supplemental Disclosure - Three Months Ended December 31, 2015 Page 20

TRANSACTION SUMMARY
	Supplemental Disclosure Three Months Ended December 31, 2015

ACQUISITIONS
Dollars in thousands
	Property Name	Property Type (1)	MSA	Purchase Date	Purchase Amount		Cap- Rate		GLA	Percent Leased	ABR/ SF	Major Tenants
	Three Months Ended June 30, 2015
	Retail Building at Bardin Place Center	B	Dallas-Fort Worth-Arlington, TX	6/10/15	$	9,258	6.8	%	96,127	100.0%	$6.75	Hobby Lobby
	Webster Square Shopping Center	S	Boston-Cambridge-Newton, MA-NH	6/30/15	31,950		6.6	%	182,756	97.9%	12.31	Marshalls, Star Market
	Larchmont Centre	S	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	6/30/15	18,000		6.8	%	103,787	92.3%	12.72	ShopRite
					$	59,208	6.7	%	382,670
			TOTAL - TWELVE MONTHS ENDED 12/31/15		59,208		6.7	%	382,670
(1) B - Building, S - Shopping Center.

Supplemental Disclosure - Three Months Ended December 31, 2015 Page 22

DISPOSITIONS
Dollars in thousands
	Property Name	Property Type (1)	MSA	Sale Date	Sale Amount		Gain / (loss)				Cap- Rate		GLA / Acres	Percent Leased		ABR/ SF
	Three Months Ended March 31, 2015
	Parkwest Crossing	S	Durham-Chapel Hill, NC	1/30/15	$	10,250	$	(807	)		7.2	%	85,602	94.9	%	$	10.03
					10,250		(807		)		7.2	%	85,602
	Three Months Ended June 30, 2015
	Portfolio Sale				$	32,349	$	9,224			7.3	%
	Brenham Four Corners	S	Brenham, TX	4/27/15	—		—			—	—		114,571	100.0	%	$	8.27
	Davenport Retail Center	S	Davenport-Moline-Rock Island, IA-IL	6/16/15	—		—			—	—		62,588	100.0	%	11.50
	BJ's Plaza	S	Portland-South Portland, ME	6/16/15	—		—			—	—		104,233	100.0	%	7.70
	Outparcels at Midway Market Square	O	Cleveland-Elyria, OH	6/16/15	—		—			—	—		7,922	100.0	%	—
					32,349		9,224				7.3	%	289,314
	Three Months Ended December 31, 2015
	Town Plaza	S	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	12/16/15	$	9,000	$	2,520			6.9	%	83,229	97.1	%	$	9.67
	Land	L	Omaha-Council Bluffs, NE-IA	12/18/15	4,200		(198		)		—		20.5 acres	—		—
					13,200		2,322				6.9%		83,229
													/ 20.5 acres
			TOTAL - TWELVE MONTHS ENDED 12/31/15		$	55,799	$	10,739			7.2%		458,145
													/ 20.5 acres
(1) L - Land, O - Outparcels, S - Shopping Center.

Supplemental Disclosure - Three Months Ended December 31, 2015 Page 23

PORTFOLIO SUMMARY
	Supplemental Disclosure Three Months Ended December 31, 2015
	Joint venture, Montecito Marketplace is included at 100%

PORTFOLIO OVERVIEW
Dollars in thousands, except ABR per square foot
				As of:
				12/31/15			9/30/15			6/30/15			3/31/15			12/31/14
	Number of properties			518			519			519			520			521
	GLA			86,615,572			86,696,827			86,602,682			86,547,975			86,828,506
	Percent leased			92.6		%	92.6		%	92.5		%	92.4		%	92.8		%
		TOTAL ≥ 10,000 SF		96.2		%	96.2		%	96.2		%	96.3		%	97.1		%
		TOTAL < 10,000 SF		84.3		%	84.0		%	83.6		%	83.2		%	82.6		%
	Percent billed			91.0		%	90.9		%	90.3		%	90.3		%	91.3		%
	ABR			$	945,667		$	939,293		$	929,957		$	919,518		$	915,619
	ABR/SF			$	12.76		$	12.68		$	12.31		$	12.19		$	12.14
	Percent grocery anchored			72		%	72		%	71		%	70		%	71		%
	Percent community shopping centers			63		%	63		%	63		%	63		%	63		%
	Percent neighborhood shopping centers			37		%	37		%	37		%	37		%	37		%
	PORTFOLIO BY UNIT SIZE AS OF 12/31/15
			Number of Units	GLA			Percent Leased			Percent Billed			Percent of Vacant GLA			ABR			ABR/SF
		≥ 35,000 SF	581	36,150,924			98.1		%	97.2		%	10.5		%	$	278,350		$	9.16
		20,000 – 34,999 SF	550	14,468,974			95.6		%	93.7		%	10.1		%	133,357			9.75
		10,000 - 19,999 SF	755	10,274,377			90.1		%	87.8		%	15.9		%	113,390			12.57
		5,000 - 9,999 SF	1,376	9,464,551			86.3		%	84.3		%	20.4		%	124,483			15.85
		< 5,000 SF	8,459	16,256,746			83.1		%	80.4		%	43.1		%	296,087			22.51
		TOTAL	11,721	86,615,572			92.6		%	91.0		%	100.0		%	$	945,667		$	12.76
		TOTAL ≥ 10,000 SF	1,886	60,894,275			96.2		%	94.8		%	36.5		%	$	525,097		$	9.89
		TOTAL < 10,000 SF	9,835	25,721,297			84.3		%	81.9		%	63.5		%	420,570			20.02

Supplemental Disclosure - Three Months Ended December 31, 2015 Page 25

TOP FORTY RETAILERS RANKED BY ABR
Dollars in thousands
		Retailer		Owned Leases	GLA	Percent of Portfolio GLA		ABR		Percent of Portfolio ABR
	1	The Kroger Co. (1)		71	4,583,904	5.3	%	$	31,810	3.4	%
	2	The TJX Companies, Inc. (2)		91	2,907,531	3.4	%	29,663		3.1	%
	3	Dollar Tree Stores, Inc. (3)		168	1,869,080	2.2	%	18,297		1.9	%
	4	Wal-Mart Stores, Inc. (4)		29	3,548,000	4.1	%	16,911		1.8	%
	5	Publix Super Markets, Inc. (5)		39	1,801,416	2.1	%	16,659		1.8	%
	6	Ahold USA, Inc. (6)		22	1,314,212	1.5	%	14,755		1.6	%
	7	Albertsons Companies, Inc. (7)		22	1,225,287	1.4	%	13,547		1.4	%
	8	Burlington Stores, Inc.		19	1,389,971	1.6	%	10,583		1.1	%
	9	PetSmart, Inc.		30	652,714	0.8	%	9,303		1.0	%
	10	Bed Bath & Beyond Inc. (8)		30	737,711	0.9	%	9,248		1.0	%
		TOP 10 RETAILERS		521	20,029,826	23.3	%	170,776		18.1	%
	11	Sears Holdings Corporation (9)		23	2,135,926	2.5	%	9,201		1.0	%
	12	Ross Stores, Inc. (10)		30	844,474	1.0	%	9,104		1.0	%
	13	Best Buy Co., Inc.		16	660,392	0.8	%	8,832		0.9	%
	14	Office Depot, Inc. (11)		35	787,551	0.9	%	8,579		0.9	%
	15	Big Lots, Inc.		44	1,417,743	1.6	%	8,516		0.9	%
	16	Staples, Inc.		29	612,831	0.7	%	7,620		0.8	%
	17	Kohl's Corporation		12	1,002,715	1.2	%	7,330		0.8	%
	18	Party City Corporation		36	505,174	0.6	%	7,248		0.8	%
	19	PETCO Animal Supplies, Inc. (12)		35	465,435	0.5	%	7,215		0.8	%
	20	DICK'S Sporting Goods, Inc. (13)		13	542,121	0.6	%	6,948		0.7	%
		TOP 20 RETAILERS		794	29,004,188	33.7	%	251,369		26.7	%
	21	Hobby Lobby Stores, Inc.		17	1,039,742	1.2	%	6,711		0.7	%
	22	L.A. Fitness International, LLC		10	426,988	0.5	%	6,385		0.7	%
	23	Ascena Retail Group, Inc. (14)		55	339,597	0.4	%	6,073		0.6	%
	24	Michaels Stores, Inc.		26	570,430	0.7	%	5,962		0.6	%
	25	The Home Depot, Inc.		8	799,388	0.9	%	5,755		0.6	%
	26	Southeastern Grocers (15)		16	744,871	0.9	%	5,725		0.6	%
	27	Giant Eagle, Inc.		7	555,560	0.6	%	5,590		0.6	%
	28	Walgreen Co.		20	289,244	0.3	%	4,811		0.5	%
	29	H.E. Butt Grocery Company (16)		8	401,380	0.5	%	4,679		0.5	%
	30	CVS Health		23	306,968	0.4	%	4,584		0.5	%
	31	Gap, Inc. (17)		16	257,085	0.3	%	4,210		0.4	%
	32	Barnes & Noble, Inc.		11	248,673	0.3	%	4,197		0.4	%
	33	Payless ShoeSource		68	209,847	0.2	%	4,189		0.4	%
	34	Sally Beauty Holdings, Inc.		116	194,975	0.2	%	4,140		0.4	%
	35	Jo-Ann Stores, Inc.		22	422,528	0.5	%	4,132		0.4	%
	36	Wakefern Food Corporation (18)		7	354,575	0.4	%	4,064		0.4	%
	37	JPMorgan Chase & Co.		30	108,604	0.1	%	4,042		0.4	%
	38	Beall's, Inc. (19)		25	576,865	0.7	%	3,967		0.4	%
	39	ULTA Beauty		17	194,478	0.2	%	3,913		0.4	%
	40	Toys"R"Us, Inc. (20)		11	410,868	0.5	%	3,892		0.4	%
		TOTAL TOP 40 RETAILERS		1,307	37,456,854	43.5	%	$	348,390	36.6	%
(1) Includes Kroger (55), Harris Teeter (3), King Soopers (3), Ralphs (2), Smith's (2),			(7) Includes Vons (4), Albertsons (4), Acme (3), Randalls (3), Tom Thumb (2),					(14) Includes dressbarn (23), Catherines (11), Lane Bryant (8), Justice (7),
Pick ' N Save (2), Dillons (1), Food 4 Less (1) Rainbow Foods (1) and Pay Less (1).			Dominick's (2), Shaw's (2), Jewel-Osco (1) and $.99 Only Store (1).					maurices (5) and Ann Taylor (1).
(2) Includes T.J. Maxx (49), Marshalls (34) and HomeGoods (8).			(8) Includes Bed Bath & Beyond (17), Harmon Face Values (6), Christmas Tree					(15) Includes Winn-Dixie (9), BI-LO (4) and Harveys (3).
(3) Includes Dollar Tree (128), Family Dollar (37), Deals (2) and Dollar Stop (1).			Shops (4), World Market (2) and buybuy BABY (1).					(16) Includes H-E-B (7) and Central Market (1).
(4) Includes Supercenters (14), Discount Stores (9), Walmart Neighborhood			(9) Includes Kmart (20), Sears (2) and Sears Outlet (1).					(17) Includes Old Navy (12), GAP Factory (2), GAP (1) and Banana
Market (5) and Sam's Club (1).			(10) Includes Ross Dress for Less (29) and dd's Discounts (1).					Republic Factory (1).
(5) Includes Publix (38) and Publix Sabor (1).			(11) Includes Office Depot (19) and OfficeMax (16).					(18) Includes ShopRite (4) and PriceRite (3).
(6) Includes Giant Food (9), Super Stop & Shop (7), Martin's Food Markets (2),			(12) Includes PETCO (34) and Unleashed (1).					(19) Includes Beall's Outlet (12), Burke's Outlet (9), Burke's (2),
ShopRite (1), Stop & Shop (1), McCaffrey's (1) and Tops (1).			(13) Includes DICK'S Sporting Goods (10) and Golf Galaxy (3).					and Beall's Department Store (2).
								(20) Includes Babies"R"Us (7) and Toys"R"Us (4).

Supplemental Disclosure - Three Months Ended December 31, 2015 Page 26

NEW & RENEWAL LEASE SUMMARY
Dollars in thousands except per square foot amounts
													Tenant Improvements PSF (1)		Leasing Commissions PSF		Weighted Average Lease Term (years)		Comparable Only
			Leases		GLA		New ABR			New ABR/SF									Leases	GLA		New ABR/SF			Old ABR/SF			Rent Growth (2)
		TOTAL - ALL LEASES
		Three months ended 12/31/15	554		3,882,618		$	47,801		$	12.31		$	6.98	$	0.65	5.4		457	3,523,206		$	12.08		$	10.52		14.8		%
		Three months ended 9/30/15	474		3,333,715		42,937			12.88			5.82		0.76		6.0		401	3,037,387		12.49			10.84			15.2		%
		Three months ended 6/30/15	505		3,355,591		41,924			12.49			5.05		0.93		5.5		389	2,995,769		12.12			10.44			16.1		%
		Three months ended 3/31/15	485		2,790,404		38,137			13.67			5.47		0.71		5.8		385	2,391,199		13.53			11.90			13.7		%
		TOTAL - TTM	2,018		13,362,328		$	170,800		$	12.78		$	5.89	$	0.76	5.7		1,632	11,947,561		$	12.48		$	10.86		14.9		%
		NEW LEASES
		Three months ended 12/31/15	163		759,377		$	12,054		$	15.87		$	25.44	$	3.27	8.5		66	399,965		$	17.03		$	13.11		29.9		%
		Three months ended 9/30/15	126		600,829		9,821			16.35			24.71		4.14		8.5		53	304,501		15.81			10.61			49.0		%
		Three months ended 6/30/15	206		856,542		13,614			15.89			18.54		3.59		7.4		90	496,720		16.08			10.69			50.4		%
		Three months ended 3/31/15	169		801,983		12,388			15.45			17.40		2.42		9.2		69	402,778		16.37			11.74			39.4		%
		TOTAL - TTM	664		3,018,731		$	47,878		$	15.86		$	21.20	$	3.31	8.4		278	1,603,964		$	16.34		$	11.54		41.6		%
		RENEWAL & OPTION LEASES
		Three months ended 12/31/15	391		3,123,241		$	35,747		$	11.45		$	2.49	$	0.02	4.7		391	3,123,241		$	11.45		$	10.19		12.4		%
		Three months ended 9/30/15	348		2,732,886		33,116			12.12			1.67		0.02		5.4		348	2,732,886		12.12			10.87			11.5		%
		Three months ended 6/30/15	299		2,499,049		28,310			11.33			0.42		0.02		4.9		299	2,499,049		11.33			10.39			9.1		%
		Three months ended 3/31/15	316		1,988,421		25,749			12.95			0.66		0.02		4.5		316	1,988,421		12.95			11.93			8.6		%
		TOTAL - TTM	1,354		10,343,597		$	122,922		$	11.88		$	1.42	$	0.02	4.9		1,354	10,343,597		$	11.88		$	10.75		10.5		%
	RENT GROWTH BY TENANT SIZE																	LEASES BY ANCHOR AND SMALL SHOP - THREE MONTHS ENDED 12/31/15
			Three Months Ended																	% of Leases		% of GLA			% of ABR			New ABR/SF
		TOTAL - ALL LEASES	12/31/15		9/30/15		6/30/15			3/31/15								Anchor Leases (≥ 10,000 SF)
		≥ 35,000 SF	12.7	%	15.5	%	22.9		%	10.9		%						Total - All leases		16	%	66		%	47		%	$	8.75
		20,000 – 34,999 SF	8.5	%	17.0	%	4.2		%	8.9		%						New leases		12	%	49		%	40		%	12.92
		10,000 - 19,999 SF	17.9	%	13.0	%	20.8		%	17.5		%						Renewal leases		18	%	70		%	49		%	8.03
		5,000 - 9,999 SF	16.5	%	13.1	%	14.8		%	17.9		%
		< 5,000 SF	16.5	%	15.2	%	16.8		%	14.4		%						Small Shop Leases (< 10,000 SF)
		TOTAL	14.8	%	15.2	%	16.1		%	13.7		%						Total - All leases		84	%	34		%	53		%	$	19.13
		TOTAL ≥ 10,000 SF	13.2	%	15.7	%	15.8		%	12.0		%						New leases		88	%	51		%	60		%	18.75
		TOTAL < 10,000 SF	16.5	%	14.6	%	16.3		%	15.3		%						Renewal leases		82	%	30		%	51		%	19.28
(1) Excludes Landlord Costs.
(2) Cash.

Supplemental Disclosure - Three Months Ended December 31, 2015 Page 27

NEW LEASE NET EFFECTIVE RENT
			Twelve Months Ended			Three Months Ended
			12/31/15			12/31/15			9/30/15			6/30/15			3/31/15
	NEW LEASES
	Weighted average over lease term:
		Base rent	$	16.82		$	17.24		$	17.42		$	16.84		$	15.97
		TI/TA allowance	(2.51		)	(2.90		)	(2.83		)	(2.33		)	(2.09		)
		Landlord work	(0.31		)	(0.26		)	(0.26		)	(0.28		)	(0.43		)
		Third party leasing commissions	(0.39		)	(0.38		)	(0.46		)	(0.43		)	(0.29		)
		Rent concessions	—			—			—			—			—
	EQUIVALENT NET EFFECTIVE RENT		$	13.61		$	13.70		$	13.87		$	13.80		$	13.16
	Net effective rent / base rent		81		%	79		%	80		%	82		%	82		%
	Weighted average term (years)		8.4			8.5			8.5			7.4			9.2
	PERCENT OF TOTAL EQUIVALENT NET EFFECTIVE RENT BY ANCHOR AND SMALL SHOP
		≥ 10,000 SF	35		%	39		%	36		%	31		%	37		%
		< 10,000 SF	65		%	61		%	64		%	69		%	63		%

Supplemental Disclosure - Three Months Ended December 31, 2015 Page 28

ANCHOR SPACE REPOSITIONING SUMMARY
Dollars in thousands
		Property Name	MSA	Description
		IN PROCESS ANCHOR SPACE REPOSITIONINGS
	1	Glendale Galleria	Phoenix-Mesa-Scottsdale, AZ	Remerchandise former Smashing Buys with a 37K SF LA Fitness
	2	Gateway Plaza	Los Angeles-Long Beach-Anaheim, CA	Remerchandise former CVS with a 15K SF Party City
	3	Ocean View Plaza	Los Angeles-Long Beach-Anaheim, CA	Remerchandise former Fitness Elite for Women with a 18K SF Crunch Fitness
	4	California Oaks Center	Riverside-San Bernardino-Ontario, CA	Remerchandise former Ralphs with a 19K SF Barons Market
	5	Lompoc Center	Santa Maria-Santa Barbara, CA	Remerchandise and expansion of former Pier One with a 16K SF Harbor Freight Tools
	6	Superior Marketplace	Boulder, CO	Reconfigure anchor vacancy with a 19K SF Party City and a 11K SF ULTA
	7	Arapahoe Crossings	Denver-Aurora-Lakewood, CO	Remerchandise former Marshalls and former OfficeMax with a 31K SF Stein Mart and a 24K SF buybuy BABY
	8	Wilmington Island	Savannah, GA	Reconfigure junior anchor and small shop space to accommodate expansion of existing Kroger to 75K SF prototype store and addition of Kroger fuel center
	9	Rivercrest Shopping Center	Chicago-Naperville-Elgin, IL-IN-WI	Addition of a 9K SF Five Below in former Kmart, in conjuntion with previous remerchandising with Ross Dress for Less and Party City
	10	Tinley Park Plaza	Chicago-Naperville-Elgin, IL-IN-WI	Remerchandise former Staples with a 23K SF Planet Fitness
	11	Westlane Shopping Center	Indianapolis-Carmel-Anderson, IN	Remerchandise former Marsh Supermarket with a 17K SF Save-A-Lot and a 12K SF Citi Trends
	12	Regency Park Shopping Center	Jacksonville, FL	Remerchandise anchor vacancy with a 40K SF Ollie's Bargain Outlet
	13	Park Shore Plaza (Phase 1)	Naples-Immokalee-Marco Island, FL	Remerchandise former Kmart with a 60K SF Burlington Stores, a 19K SF Party City and an additional 16K SF junior anchor and a 5K SF small shop space
	14	Park Shore Plaza (Phase 2)	Naples-Immokalee-Marco Island, FL	Remerchandise former YouFit health club with a 27K SF Saks OFF Fifth
	15	Seminole Plaza	Tampa-St. Petersburg-Clearwater, FL	Remerchandise and expand former Deals with a 21K SF Bealls Outlet
	16	Points West Plaza	Boston-Cambridge-Newton, MA-NH	Combination of two adjacent small shop vacancies for a 15K SF Citi Trends and remerchandise former Pay/Half with an 11K SF L&M Bargain
	17	Delta Center	Lansing-East Lansing, MI	Remerchandise former Party City with expansion of existing Men's Wearhouse to a new 10K SF DXL Destination XL
	18	Marketplace @ 42	Minneapolis-St. Paul-Bloomington, MN-WI	Remerchandise former Rainbow Foods with a 32K SF Fresh Thyme Farmers Market and a 21K SF junior anchor
	19	Clocktower Place	St. Louis, MO-IL	Relocation and rightsize of existing regional furniture store to 30K SF in former Office Depot and replace with a 16K SF K&G Fashion Superstore
	20	County Line Plaza	Jackson, MS	Remerchandise and expansion of former Office Depot with a 50K SF Burlington Stores and a 25K SF Burke's Outlet
	21	McMullen Creek Market	Charlotte-Concord-Gastonia, NC-SC	Reconfigure 25K SF Staples and adjacent vacant junior anchor with a 45K SF Walmart Neighborhood Market and relocate existing 6K SF Lebo's Footwear to enable rightsizing of Staples to 13K SF
	22	Willow Springs Plaza	Manchester-Nashua, NH	Remerchandise former Namco Pools with a 33K SF New Hampshire Liquor and Wine Outlet
	23	College Plaza	New York-Newark-Jersey City, NY-NJ-PA	Remerchandise former Rite Aid with an 18K SF A.C. Moore
	24	Highridge Plaza	New York-Newark-Jersey City, NY-NJ-PA	Remerchandise former A&P with a 42K SF H-Mart grocer
	25	Erie Canal Centre	Syracuse, NY	Remerchandise former Kmart with a 50K SF Dick's Sporting Goods, an additional 34K SF junior anchor, a 7K SF small shop space and a 6K SF outparcel
	26	Crown Point	Columbus, OH	Remerchandise former Lombard's Furniture and adjacent small shop vacancy with a 21K SF Planet Fitness
	27	The Commons at Wolfcreek	Memphis, TN-MS-AR	Remerchandise former OfficeMax with a 15K SF DSW and a 9K SF Five Below
	28	Five Points	Corpus Christi, TX	Reconfigure anchor vacancy with a 17K SF Harbor Freight Tools and 7K SF of small shop space
	29	Bardin Place Center	Dallas-Fort Worth-Arlington, TX	Reconfigure former Sports Authority and adjacent small shop space with an 86K SF WinCo Foods
	30	Preston Park	Dallas-Fort Worth-Arlington, TX	Remerchandise former Minyard Sun Fresh Market with a 53K SF Kroger
	31	Preston Ridge	Dallas-Fort Worth-Arlington, TX	Remerchandise former Gatti-Town Pizza with a 29K SF Saks OFF Fifth
	32	Webb Royal Plaza	Dallas-Fort Worth-Arlington, TX	Remerchandise former grocer with a 35K SF El Rio Grande Latin Market
		COMPLETED ANCHOR SPACE REPOSITIONINGS - TWELVE MONTHS ENDED 12/31/15
	1	Metro 580	San Francisco-Oakland-Hayward, CA	Remerchandise former Borders with a 23K SF Party City
	2	Stratford Square	Bridgeport-Stamford-Norwalk, CT	Reconfigure former movie theatre with a 49K SF LA Fitness
	3	The Manchester Collection	Hartford-West Hartford-East Hartford, CT	Combination of former Office Depot and adjacent anchor vacancy for a 39K SF The Edge Fitness Clubs
	4	North Haven Crossing	New Haven-Milford, CT	Remerchandise former Staples with an 8K SF Five Below and a 6K SF Lumber Liquidators
	5	Perkins Farm Marketplace	Worcester, MA-CT	Remerchandise anchor vacancy with a 13K SF Citi Trends and an additional anchor
	6	Cobblestone Village	Jacksonville, FL	Remerchandise former vacancy with a 15K SF Party City
	7	Marketplace at Wycliffe	Miami-Fort Lauderdale-West Palm Beach, FL	Remerchandise former Winn-Dixie with a 45K SF Walmart Neighborhood Market
	8	Pointe Orlando	Orlando-Kissimmee-Sanford, FL	Addition of a 7K SF Blue Martini Lounge, a 6K SF RA Sushi and a 3K SF Minus 5 Ice Bar

Supplemental Disclosure - Three Months Ended December 31, 2015 Page 29

ANCHOR SPACE REPOSITIONING SUMMARY
Dollars in thousands
		Property Name		MSA						Description
	9	Panama City Square		Panama City, FL						Remerchandise former Michaels with a 28K SF Harbor Freight Tools
	10	Mansell Crossing		Atlanta-Sandy Springs-Roswell, GA						Remerchandise former OfficeMax with a 24K SF REI
	11	Northeast Plaza		Atlanta-Sandy Springs-Roswell, GA						Remerchandise former G-Mart International Foods with a 56K SF City Farmers Market grocer
	12	The Village at Mableton		Atlanta-Sandy Springs-Roswell, GA						Remerchandise former Shoppes at Mableton with a 30K SF Ollie's Bargain Outlet
	13	Annex of Arlington		Chicago-Naperville-Elgin, IL-IN-WI						Downsize existing 27K SF Petco to 14K SF to accommodate a 13K SF Chuck E. Cheese’s
	14	The Commons of Crystal Lake		Chicago-Naperville-Elgin, IL-IN-WI						Remerchandise former Marshalls and Toys R Us with a 58K SF Burlington Stores
	15	Westridge Court		Chicago-Naperville-Elgin, IL-IN-WI						Remerchandise former Hollywood Palms Cinema with a 50K SF Star Cinema Grill
	16	Westview Center		Chicago-Naperville-Elgin, IL-IN-WI						Relocation and expansion of existing Dollar Tree to 17K SF and rightsizing of Premiere Furniture to 12K SF to accommodate a 22K SF Sears Home Outlet
	17	Speedway Super Center		Indianapolis-Carmel-Anderson, IN						Remerchandise former Party City with a 17K SF Oak Street Health center
	18	Karam Shopping Center		Lafayette, LA						Remerchandise former Conn's with a 21K SF dd's Discount (Ross Dress for Less)
	19	Southfield Plaza		Detroit-Warren-Dearborn, MI						Addition of a 22K SF Party City in addition to existing Planet Fitness to complete remerchandise of former Farmer Jack
	20	West Ridge		Detroit-Warren-Dearborn, MI						Remerchandise former Tile Shop with a 25K SF Bed Bath & Beyond and relocation of existing Party City to 25K SF prototype
	21	Richfield Hub		Minneapolis-St. Paul-Bloomington, MN-WI						Remerchandise former Bally's Total Fitness with a 26K SF FLEX Academy
	22	Ellisville Square		St. Louis, MO-IL						Remerchandise former Kmart with a 40K SF Sports Authority, a 19K SF Michaels, a 16K SF Party City and a 4K SF outparcel
	23	Franklin Square		Charlotte-Concord-Gastonia, NC-SC						Remerchandise former OfficeMax with relocation and expansion of existing Michaels to 20K SF
	24	The Commons at Chancellor Park		Charlotte-Concord-Gastonia, NC-SC						Remerchandise former Hobby Lobby with a 61K SF Gabe's
	25	Hamilton Plaza-Kmart Plaza		Trenton, NJ						Reconfigure former Acme with a 19K SF Planet Fitness and a 13K SF Hibachi Grill
	26	Galleria Commons		Las Vegas-Henderson-Paradise, NV						Remerchandise former Pacific Sales with a 13K SF Tuesday Morning and a 10K SF Kirkland's
	27	Florence Plaza - Florence Square		Cincinnati, OH-KY-IN						Remerchandise former Kroger (Kroger previously relocated within center) with a 44K SF Burlington Stores
	28	Harpers Station		Cincinnati, OH-KY-IN						Remerchandise former Bova furniture with a 29K SF Fresh Thyme Farmers Market (Meijer) and combination of adjacent small shop vacancies for an 8K SF Pet Supplies Plus
	29	Bethel Park Shopping Center		Pittsburgh, PA						Utilize three small shop spaces to accomodate Giant Eagle expansion
	30	Collegetown Shopping Center		Philadelphia-Camden-Wilmington, PA-NJ-DE-MD						Reconfigure former Acme with a 42K SF LA Fitness and an additional 5K SF of retail space
	31	Town Plaza		Philadelphia-Camden-Wilmington, PA-NJ-DE-MD						Addition of a 20K SF Tractor Supply Co. in remainder of former Ames space
	32	Festival Centre		Charleston-North Charleston, SC						Remerchandise former Hamrick's with a 40K SF Sears Outlet
	33	Kingston Overlook		Knoxville, TN						Remerchandise former American Signature Home with a 53K SF Sears Home Outlet
	34	Oakwood Commons		Nashville-Davidson--Murfreesboro--Franklin, TN						Rightsize existing Goody's to 24K SF and remerchandise remaining space with a 10K SF Dollar Tree
	35	Watson Glen Shopping Center		Nashville-Davidson--Murfreesboro--Franklin, TN						Remerchandise former Kmart with an 86K SF At Home (Garden Ridge)
	36	Williamson Square		Nashville-Davidson--Murfreesboro--Franklin, TN						Remerchandise former grocer with a 29K SF SkyZone and a 17K SF Planet Fitness
	37	Parmer Crossing		Austin-Round Rock, TX						Remerchandise former RoomStore with a 29K SF Mega Furniture and a 27K SF junior anchor
	38	Ridgeview Centre		Wise, VA						Remerchandise former Kmart with a 29K SF Ollie's Bargain Outlet
	39	Mequon Pavilions		Milwaukee-Waukesha-West Allis, WI						Combination of four adjacent small shop spaces for a 25K SF Marshalls and relocation of existing 5K SF Men's Wearhouse and 3K SF Fitness Together
	2015 Anchor Space Repositionings:
			Number of Projects	Expected Total Project Costs		Costs to Date		NOI Yield
		In Process	32	$	83,848	$	39,597	10.9	%
		Completed	39	88,884		88,884		16.4	%
		TOTAL	71	$	172,732	$	128,482	13.8	%

Supplemental Disclosure - Three Months Ended December 31, 2015 Page 30

REDEVELOPMENT & OUTPARCEL DEVELOPMENT SUMMARY
Dollars in thousands
								Construction			Expected
						Percent		Stabilization	Percent		Total		Costs		NOI
			Property Name	MSA	Project Description	Leased		Quarter	Complete		Project Cost		to Date		Yield
	OUTPARCEL DEVELOPMENTS:
		IN PROCESS OUTPARCEL DEVELOPMENTS
		1	Puente Hills Town Center	Los Angeles-Long Beach-Anaheim, CA	Reconfigure former freestanding Barnes & Noble with a 3K SF Habit Burger Grill, a 3K SF Pacific Fish Grill and two additional small shop retailers	99.7	%	Mar-16	55	%	$	2,561	$	1,394	11.1	%
		2	Mira Mesa Mall	San Diego-Carlsbad, CA	Construction of a 3K SF Habit Burger Grill outparcel	97.3	%	Mar-16	11	%	1,038		111		20.7	%
		3	Wadsworth Crossings	Cleveland-Elyria, OH	Construction of a 4K SF Mattress Firm outparcel	94.0	%	Mar-16	85	%	1,664		1,408		11.5	%
		4	Wynnewood Village	Dallas-Fort Worth-Arlington, TX	Construction of a 3K SF Popeyes Louisiana Kitchen outparcel	88.2	%	Mar-16	—		560		—		14.9	%
		5	Arbor - Broadway Faire	Fresno, CA	Reconfigure former outparcel building for a 6K SF Buffalo Wild Wings	98.3	%	Jun-16	46	%	282		129		61.3	%
		6	Westgate	Dublin, GA	Construction of a 2K SF Dunkin' Donuts / Baskin-Robbins outparcel	94.0	%	Jun-16	57	%	329		187		16.8	%
		7	Tinley Park Plaza	Chicago-Naperville-Elgin, IL-IN-WI	Reconfigure 8K SF space with a 3K SF Blaze Pizza, a 3K SF Noodles & Company and 2K SF of additional retail space	79.5	%	Sep-16	29	%	2,882		830		13.5	%
		8	Coastal Way - Coastal Landing	Tampa-St. Petersburg-Clearwater, FL	Construction of a 3K SF Visionworks and 3K SF for two additional small shop retailers outparcel	97.1	%	Dec-16	6	%	2,323		148		10.3	%
		9	Century Plaza Shopping Center	Miami-Fort Lauderdale-West Palm Beach, FL	Construction of a 13K SF CVS drive-thru pharmacy outparcel	94.2	%	Dec-16	16	%	3,831		608		11.8	%
		#	Florence Plaza - Florence Square	Cincinnati, OH-KY-IN	Construction of a 4K SF First Watch daytime-only restaurant outparcel	97.4	%	Dec-16	74	%	2,041		1,504		12.0	%
		11	Pilgrim Gardens	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	Construction of a 2K SF Moe's Southwest Grill outparcel	97.1	%	Dec-16	21%		379		79		25.5	%
		#	The Commons at Wolfcreek	Memphis, TN-MS-AR	Construction of a 5K SF AT&T and 6K SF for three additional small shop retailers outparcel	93.3	%	Dec-16	8%		2,812		212		12.7	%
			TOTAL IN PROCESS OUTPARCEL DEVELOPMENT ACTIVITIES / WEIGHTED AVERAGE								$ 20,703		$	6,611	13.4	%
		COMPLETED OUTPARCEL DEVELOPMENTS - TWELVE MONTHS ENDED 12/31/15
		1	Applegate Ranch Shopping Center	Merced, CA	Construction of a 5K SF Applebee's Neighborhood Grill & Bar outparcel	96.7	%	Dec-15	100%		634		634		11.8	%
		2	Park Hills Plaza	Altoona, PA	Construction of a 4K SF Red Robin outparcel	96.4	%	Dec-15	100%		253		253		23.7	%
			TOTAL COMPLETED OUTPARCEL DEVELOPMENT ACTIVITIES / WEIGHTED AVERAGE								$ 887		$	887	15.2	%
			TOTAL IN PROCESS AND COMPLETED OUTPARCEL DEVELOPMENT ACTIVITIES / WEIGHTED AVERAGE								$ 21,590		$	7,499	13.5	%

Supplemental Disclosure - Three Months Ended December 31, 2015 Page 31

LEASE EXPIRATION SCHEDULE
			TOTAL PORTFOLIO								SPACES > 10,000 SF								SPACES < 10,000 SF
			Number of		Percent of				Percent		Number of		Percent of				Percent		Number of		Percent of				Percent
			Leases	Leased GLA	Leased GLA		ABR / SF		of ABR		Leases	Leased GLA	Leased GLA		ABR / SF		of ABR		Leases	Leased GLA	Leased GLA		ABR / SF		of ABR
	ASSUMES NO EXERCISE OF RENEWAL OPTIONS AND NO BASE RENT ESCALATIONS OVER LEASE TERM
		Month to Month	744	2,352,602	2.8	%	$	13.15	3.2	%	48	897,789	1.5	%	$	9.30	1.6	%	696	1,454,813	6.7	%	$	15.53	5.4	%
		2016	1,549	7,923,535	9.9	%	12.12		10.1	%	144	5,029,300	8.6	%	8.23		7.9	%	1,405	2,894,235	13.4	%	18.88		13.0	%
		2017	1,700	10,999,208	13.7	%	12.00		13.9	%	240	7,374,260	12.6	%	8.50		11.9	%	1,460	3,624,948	16.7	%	19.11		16.5	%
		2018	1,579	10,122,010	12.6	%	12.47		13.4	%	216	6,645,194	11.3	%	9.00		11.4	%	1,363	3,476,816	16.0	%	19.12		15.8	%
		2019	1,338	10,342,317	12.9	%	11.58		12.7	%	219	7,315,180	12.5	%	8.52		11.9	%	1,119	3,027,137	14.0	%	18.99		13.7	%
		2020	1,182	10,806,589	13.5	%	11.15		12.7	%	237	8,303,561	14.2	%	8.47		13.4	%	945	2,503,028	11.5	%	20.07		11.9	%
		2021	507	6,082,581	7.6	%	10.97		7.1	%	150	4,904,279	8.4	%	9.02		8.4	%	357	1,178,302	5.4	%	19.05		5.3	%
		2022	277	3,665,345	4.6	%	11.00		4.3	%	86	2,981,612	5.1	%	8.58		4.9	%	191	683,733	3.2	%	21.56		3.5	%
		2023	282	3,768,107	4.7	%	10.18		4.1	%	97	3,065,393	5.2	%	8.06		4.7	%	185	702,714	3.2	%	19.42		3.2	%
		2024	304	3,411,327	4.3	%	12.66		4.6	%	94	2,683,566	4.6	%	10.24		5.2	%	210	727,761	3.4	%	21.59		3.7	%
		2025+	640	10,770,456	13.4	%	12.21		13.9	%	240	9,368,253	16.0	%	10.48		18.7	%	400	1,402,203	6.5	%	23.76		7.9	%
	ASSUMES EXERCISE OF ALL RENEWAL OPTIONS AND ANY BASE RENT ESCALATIONS OVER LEASE TERM (1)
		Month to Month	744	2,352,602	2.9	%	$	13.15	2.5	%	48	897,789	1.5	%	$	9.30	1.1	%	696	1,454,813	6.7	%	$	15.53	4.8	%
		2016	1,109	2,938,193	3.7	%	14.92		3.6	%	45	1,077,429	1.8	%	7.68		1.1	%	1,064	1,860,764	8.6	%	19.11		7.6	%
		2017	1,091	3,629,627	4.5	%	14.95		4.4	%	59	1,294,675	2.2	%	8.49		1.5	%	1,032	2,334,952	10.8	%	18.53		9.2	%
		2018	934	2,941,297	3.7	%	15.78		3.8	%	51	1,079,788	1.8	%	10.00		1.4	%	883	1,861,509	8.6	%	19.13		7.6	%
		2019	771	2,841,218	3.5	%	14.68		3.4	%	48	1,137,524	1.9	%	8.64		1.3	%	723	1,703,694	7.9	%	18.71		6.8	%
		2020	689	2,863,948	3.6	%	14.56		3.4	%	49	1,381,661	2.4	%	8.86		1.6	%	640	1,482,287	6.8	%	19.87		6.3	%
		2021	446	1,865,527	2.3	%	16.12		2.5	%	38	757,962	1.3	%	10.65		1.1	%	408	1,107,565	5.1	%	19.87		4.7	%
		2022	393	1,878,690	2.3	%	16.26		2.5	%	42	874,853	1.5	%	9.99		1.2	%	351	1,003,837	4.6	%	21.73		4.7	%
		2023	443	2,263,765	2.8	%	15.66		2.9	%	48	1,054,789	1.8	%	9.69		1.4	%	395	1,208,976	5.6	%	20.86		5.4	%
		2024	66	231,569	0.3	%	17.01		0.3	%	4	57,906	0.1	%	6.63		0.1	%	62	173,663	0.8	%	20.48		0.8	%
		2025+	3,416	56,437,641	70.3	%	15.33		70.7	%	1,339	48,954,011	83.6	%	13.64		88.4	%	2,077	7,483,630	34.5	%	26.41		42.2	%
	LEASE RETENTION RATE
					By Count		By GLA
		Twelve Months Ended 12/31/15			79.4%		82.3%
(1) ABR for leases whose future option rent is based on fair market value or CPI is reported as the ABR for the last year of the current lease term.
ABR/SF includes ground leases.

Supplemental Disclosure - Three Months Ended December 31, 2015 Page 32

PROPERTIES BY LARGEST US MSAs
Dollars in thousands except per square foot amounts
													Percent of
			Number of		Percent		Percent						Number of		Percent		Percent
		Largest US MSAs by 2014 Population	Properties	GLA	Leased		Billed		ABR		ABR / SF		Properties		of GLA		of ABR
	1	New York-Newark-Jersey City, NY-NJ-PA	30	3,631,166	92.2	%	89.5	%	$	63,434	$	19.92	5.8	%	4.2	%	6.7	%
	2	Los Angeles-Long Beach-Anaheim, CA	9	1,685,034	98.8	%	95.6	%	28,899		19.17		1.7	%	2.0	%	3.1	%
	3	Chicago-Naperville-Elgin, IL-IN-WI	16	4,015,509	92.2	%	90.6	%	45,398		13.50		3.0	%	4.6	%	4.8	%
	4	Dallas-Fort Worth-Arlington, TX	16	3,075,993	92.5	%	91.2	%	41,687		14.90		3.0	%	3.6	%	4.4	%
	5	Houston-The Woodlands-Sugar Land, TX	37	4,625,985	91.9	%	90.4	%	47,150		11.55		7.1	%	5.3	%	5.0	%
	6	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	28	4,308,176	94.6	%	94.0	%	56,252		15.50		5.4	%	5.0	%	5.9	%
	7	Washington-Arlington-Alexandria, DC-VA-MD-WV	3	451,260	98.3	%	96.0	%	4,895		11.04		0.6	%	0.5	%	0.5	%
	8	Miami-Fort Lauderdale-West Palm Beach, FL	10	1,682,476	88.0	%	86.5	%	19,537		13.76		1.9	%	1.9	%	2.1	%
	9	Atlanta-Sandy Springs-Roswell, GA	25	3,663,048	91.9	%	90.8	%	35,344		10.82		4.8	%	4.2	%	3.7	%
	10	Boston-Cambridge-Newton, MA-NH	6	719,802	89.3	%	86.4	%	7,893		12.57		1.1	%	0.8	%	0.8	%
		Top 10 Largest US MSAs by Population	180	27,858,449	92.7	%	91.1	%	350,489		14.41		34.4	%	32.1	%	37.0	%
	11	San Francisco-Oakland-Hayward, CA	2	476,983	96.2	%	91.4	%	8,951		24.66		0.4	%	0.6	%	0.9	%
	12	Phoenix-Mesa-Scottsdale, AZ	1	119,525	70.1	%	33.7	%	1,023		12.21		0.2	%	0.1	%	0.1	%
	13	Riverside-San Bernardino-Ontario, CA	4	537,795	92.3	%	91.0	%	6,411		13.02		0.8	%	0.6	%	0.7	%
	14	Detroit-Warren-Dearborn, MI	9	1,599,938	93.9	%	92.7	%	16,807		12.04		1.7	%	1.8	%	1.8	%
	15	Seattle-Tacoma-Bellevue, WA	0	—	—		—		—		—		—		—		—
	16	Minneapolis-St. Paul-Bloomington, MN-WI	8	1,182,982	92.7	%	91.8	%	13,113		12.73		1.5	%	1.4	%	1.4	%
	17	San Diego-Carlsbad, CA	2	507,514	97.8	%	96.2	%	9,169		19.07		0.4	%	0.6	%	1.0	%
	18	Tampa-St. Petersburg-Clearwater, FL	15	2,386,787	94.1	%	92.8	%	27,257		13.15		2.8	%	2.8	%	2.9	%
	19	St. Louis, MO-IL	4	658,111	87.2	%	84.2	%	5,304		9.30		0.8	%	0.8	%	0.6	%
	20	Baltimore-Columbia-Towson, MD	1	218,862	100.0	%	100.0	%	2,660		12.15		0.2	%	0.3	%	0.3	%
		Top 20 Largest US MSAs by Population	226	35,546,946	92.8	%	91.1	%	441,184		14.22		43.2	%	41.1	%	46.7	%
	21	Denver-Aurora-Lakewood, CO	5	1,199,709	94.8	%	91.7	%	14,452		12.77		1.0	%	1.4	%	1.5	%
	22	Charlotte-Concord-Gastonia, NC-SC	6	1,707,898	91.4	%	88.6	%	14,411		10.12		1.1	%	2.0	%	1.5	%
	23	Pittsburgh, PA	1	199,079	100.0	%	100.0	%	1,910		10.64		0.2	%	0.2	%	0.2	%
	24	Portland-Vancouver-Hillsboro, OR-WA	0	—	—		—		—		—		—		—		—
	25	San Antonio-New Braunfels, TX	0	—	—		—		—		—		—		—		—
	26	Orlando-Kissimmee-Sanford, FL	7	1,016,285	93.5	%	88.2	%	15,811		17.00		1.4	%	1.2	%	1.7	%
	27	Sacramento--Roseville--Arden-Arcade, CA	1	103,695	95.6	%	95.6	%	1,966		19.84		0.2	%	0.1	%	0.2	%
	28	Cincinnati, OH-KY-IN	7	1,928,695	96.3	%	95.8	%	20,724		14.06		1.4	%	2.2	%	2.2	%
	29	Kansas City, MO-KS	4	602,466	92.2	%	91.5	%	4,357		7.98		0.8	%	0.7	%	0.5	%
	30	Las Vegas-Henderson-Paradise, NV	3	613,061	94.3	%	93.5	%	8,274		14.39		0.6	%	0.7	%	0.9	%
	31	Cleveland-Elyria, OH	7	1,446,201	94.6	%	93.6	%	14,959		11.73		1.4	%	1.7	%	1.6	%
	32	Columbus, OH	4	449,488	88.1	%	88.1	%	3,864		10.34		0.8	%	0.5	%	0.4	%
	33	Indianapolis-Carmel-Anderson, IN	4	881,418	82.9	%	80.1	%	6,365		8.74		0.8	%	1.0	%	0.7	%
	34	San Jose-Sunnyvale-Santa Clara, CA	0	—	—		—		—		—		—		—		—
	35	Austin-Round Rock, TX	1	168,112	83.7	%	83.7	%	1,553		11.04		0.2	%	0.2	%	0.2	%
	36	Nashville-Davidson--Murfreesboro--Franklin, TN	7	1,279,679	94.6	%	91.9	%	12,895		10.75		1.4	%	1.5	%	1.4	%
	37	Virginia Beach-Norfolk-Newport News, VA-NC	2	205,245	90.3	%	88.8	%	3,242		17.63		0.4	%	0.2	%	0.3	%
	38	Providence-Warwick, RI-MA	1	148,126	99.2	%	99.2	%	1,556		10.59		0.2	%	0.2	%	0.2	%
	39	Milwaukee-Waukesha-West Allis, WI	4	710,335	91.1	%	90.7	%	6,572		10.16		0.8	%	0.8	%	0.7	%
	40	Jacksonville, FL	5	827,508	86.8	%	77.7	%	8,512		11.94		1.0	%	1.0	%	0.9	%
	41	Memphis, TN-MS-AR	1	654,313	93.3	%	89.3	%	7,941		13.25		0.2	%	0.8	%	0.8	%
	42	Oklahoma City, OK	0	—	—		—		—		—		—		—		—

Supplemental Disclosure - Three Months Ended December 31, 2015 Page 33

PROPERTIES BY LARGEST US MSAs
Dollars in thousands except per square foot amounts
													Percent of
			Number of		Percent		Percent						Number of		Percent		Percent
		Largest US MSAs by 2014 Population	Properties	GLA	Leased		Billed		ABR		ABR / SF		Properties		of GLA		of ABR
	43	Louisville/Jefferson County, KY-IN	4	685,704	90.7	%	89.6	%	6,519		10.80		0.8	%	0.8	%	0.7	%
	44	Richmond, VA	2	215,897	76.6	%	76.6	%	2,435		14.72		0.4	%	0.2	%	0.3	%
	45	New Orleans-Metairie, LA	0	—	—		—		—		—		—		—		—
	46	Raleigh, NC	2	291,027	94.1	%	94.1	%	3,466		12.76		0.4	%	0.3	%	0.4	%
	47	Hartford-West Hartford-East Hartford, CT	4	891,680	95.1	%	89.3	%	11,732		16.49		0.8	%	1.0	%	1.2	%
	48	Salt Lake City, UT	0	—	—		—		—		—		—		—		—
	49	Birmingham-Hoover, AL	0	—	—		—		—		—		—		—		—
	50	Buffalo-Cheektowaga-Niagara Falls, NY	1	95,544	97.1	%	94.6	%	1,354		14.98		0.2	%	0.1	%	0.1	%
		Top 50 Largest US MSAs by Population	309	51,868,111	92.7	%	90.8	%	616,054		13.62		59.7	%	59.9	%	65.3	%
		MSAs Ranked 51 - 100 by Population	68	11,814,656	91.8	%	90.2	%	118,799		12.17		13.1	%	13.6	%	12.5	%
		Other MSAs	141	22,932,805	92.9	%	91.8	%	210,814		11.04		27.2	%	26.5	%	22.2	%
	TOTAL		518	86,615,572	92.6	%	91.0	%	$	945,667	$	12.76	100.0	%	100.0	%	100.0	%

Supplemental Disclosure - Three Months Ended December 31, 2015 Page 34

LARGEST MSAs BY ABR
Dollars in thousands except per square foot amounts
														Percent of
				Number of		Percent		Percent						Number of		Percent		Percent
		Largest MSAs by ABR	MSA Rank	Properties	GLA	Leased		Billed		ABR		ABR / SF		Properties		of GLA		of ABR
	1	New York-Newark-Jersey City, NY-NJ-PA	1	30	3,631,166	92.2	%	89.5	%	$	63,434	$	19.92	5.8	%	4.2	%	6.7	%
	2	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	6	28	4,308,176	94.6	%	94.0	%	56,252		15.50		5.5	%	5.0	%	5.9	%
	3	Houston-The Woodlands-Sugar Land, TX	5	37	4,625,985	91.9	%	90.4	%	47,150		11.55		7.1	%	5.3	%	5.0	%
	4	Chicago-Naperville-Elgin, IL-IN-WI	3	16	4,015,509	92.2	%	90.6	%	45,398		13.50		3.1	%	4.6	%	4.8	%
	5	Dallas-Fort Worth-Arlington, TX	4	16	3,075,993	92.5	%	91.2	%	41,687		14.90		3.1	%	3.6	%	4.4	%
	6	Atlanta-Sandy Springs-Roswell, GA	9	25	3,663,048	91.9	%	90.8	%	35,344		10.82		4.8	%	4.2	%	3.7	%
	7	Los Angeles-Long Beach-Anaheim, CA	2	9	1,685,034	98.8	%	95.6	%	28,899		19.17		1.7	%	1.9	%	3.1	%
	8	Tampa-St. Petersburg-Clearwater, FL	18	15	2,386,787	94.1	%	92.8	%	27,257		13.15		2.9	%	2.8	%	2.9	%
	9	Cincinnati, OH-KY-IN	28	7	1,928,695	96.3	%	95.8	%	20,724		14.06		1.4	%	2.2	%	2.2	%
	10	Miami-Fort Lauderdale-West Palm Beach, FL	8	10	1,682,476	88.0	%	86.5	%	19,537		13.76		1.9	%	1.9	%	2.1	%
		10 Largest MSAs by ABR	—	193	31,002,869	93.0	%	91.5	%	385,682		14.39		37.3	%	35.7	%	40.8	%
	11	Detroit-Warren-Dearborn, MI	14	9	1,599,938	93.9	%	92.7	%	16,807		12.04		1.7	%	1.8	%	1.8	%
	12	Orlando-Kissimmee-Sanford, FL	26	7	1,016,285	93.5	%	88.2	%	15,811		17.00		1.4	%	1.2	%	1.7	%
	13	Cleveland-Elyria, OH	31	7	1,446,201	94.6	%	93.6	%	14,959		11.73		1.4	%	1.7	%	1.6	%
	14	Denver-Aurora-Lakewood, CO	21	5	1,199,709	94.8	%	91.7	%	14,452		12.77		1.0	%	1.4	%	1.5	%
	15	Charlotte-Concord-Gastonia, NC-SC	22	6	1,707,898	91.4	%	88.6	%	14,411		10.12		1.2	%	2.0	%	1.5	%
	16	Allentown-Bethlehem-Easton, PA-NJ	69	5	1,298,479	98.4	%	97.6	%	13,855		13.76		1.0	%	1.5	%	1.5	%
	17	Minneapolis-St. Paul-Bloomington, MN-WI	16	8	1,182,982	92.7	%	91.8	%	13,113		12.73		1.5	%	1.4	%	1.4	%
	18	Nashville-Davidson--Murfreesboro--Franklin, TN	36	7	1,279,679	94.6	%	91.9	%	12,895		10.75		1.4	%	1.5	%	1.4	%
	19	Hartford-West Hartford-East Hartford, CT	47	4	891,680	95.1	%	89.3	%	11,732		16.49		0.8	%	1.0	%	1.2	%
	20	Naples-Immokalee-Marco Island, FL	148	4	769,279	96.2	%	92.1	%	10,823		14.81		0.8	%	0.9	%	1.1	%
		20 Largest MSAs by ABR	—	255	43,394,999	93.4	%	91.6	%	524,540		13.94		49.3	%	50.1	%	55.5	%
	21	Oxnard-Thousand Oaks-Ventura, CA	66	3	677,512	98.8	%	97.9	%	10,771		16.33		0.6	%	0.8	%	1.1	%
	22	Binghamton, NY	188	4	751,207	99.1	%	99.1	%	9,878		13.27		0.8	%	0.9	%	1.0	%
	23	San Diego-Carlsbad, CA	17	2	507,514	97.8	%	96.2	%	9,169		19.07		0.4	%	0.6	%	1.0	%
	24	San Francisco-Oakland-Hayward, CA	11	2	476,983	96.2	%	91.4	%	8,951		24.66		0.4	%	0.6	%	0.9	%
	25	Jacksonville, FL	40	5	827,508	86.8	%	77.7	%	8,512		11.94		1.0	%	1.0	%	0.9	%
	26	Las Vegas-Henderson-Paradise, NV	30	3	613,061	94.3	%	93.5	%	8,274		14.39		0.6	%	0.7	%	0.9	%
	27	Memphis, TN-MS-AR	41	1	654,313	93.3	%	89.3	%	7,941		13.25		0.2	%	0.8	%	0.8	%
	28	Boston-Cambridge-Newton, MA-NH	10	6	719,802	89.3	%	86.4	%	7,893		12.57		1.2	%	0.8	%	0.8	%
	29	Vallejo-Fairfield, CA	122	1	495,239	96.7	%	95.5	%	7,874		16.51		0.2	%	0.6	%	0.8	%
	30	New Haven-Milford, CT	64	6	572,225	94.7	%	92.1	%	7,714		14.25		1.2	%	0.7	%	0.8	%
	31	Fresno, CA	56	2	436,334	98.1	%	98.1	%	7,393		17.28		0.4	%	0.5	%	0.8	%
	32	Norwich-New London, CT	172	2	433,532	97.7	%	97.7	%	7,087		16.74		0.4	%	0.5	%	0.7	%
	33	Port St. Lucie, FL	115	5	628,830	78.5	%	77.9	%	6,922		14.02		1.0	%	0.7	%	0.7	%
	34	Milwaukee-Waukesha-West Allis, WI	39	4	710,335	91.1	%	90.7	%	6,572		10.16		0.8	%	0.8	%	0.7	%
	35	Louisville/Jefferson County, KY-IN	43	4	685,704	90.7	%	89.6	%	6,519		10.80		0.8	%	0.8	%	0.7	%
	36	Riverside-San Bernardino-Ontario, CA	13	4	537,795	92.3	%	91.0	%	6,411		13.02		0.8	%	0.6	%	0.7	%
	37	Indianapolis-Carmel-Anderson, IN	33	4	881,418	82.9	%	80.1	%	6,365		8.74		0.8	%	1.0	%	0.7	%
	38	Worcester, MA-CT	58	4	589,104	83.1	%	82.0	%	6,288		14.89		0.8	%	0.7	%	0.7	%
	39	Scranton--Wilkes-Barre--Hazleton, PA	96	2	610,539	98.9	%	98.9	%	5,374		19.93		0.4	%	0.7	%	0.6	%
	40	Springfield, MA	88	3	450,657	99.0	%	97.4	%	5,367		14.14		0.6	%	0.5	%	0.6	%

Supplemental Disclosure - Three Months Ended December 31, 2015 Page 35

LARGEST MSAs BY ABR
Dollars in thousands except per square foot amounts
												Percent of
				Number of		Percent		Percent				Number of		Percent		Percent
		Largest MSAs by ABR	MSA Rank	Properties	GLA	Leased		Billed		ABR	ABR / SF	Properties		of GLA		of ABR
	41	St. Louis, MO-IL	19	4	658,111	87.2	%	84.2	%	5,304	9.30	0.8	%	0.8	%	0.6	%
	42	College Station-Bryan, TX	189	4	491,463	94.3	%	92.0	%	5,090	15.84	0.8	%	0.6	%	0.5	%
	43	Dayton, OH	71	3	532,562	96.7	%	96.7	%	5,015	11.97	0.6	%	0.6	%	0.5	%
	44	Corpus Christi, TX	113	4	565,070	89.9	%	84.3	%	4,960	11.78	0.8	%	0.7	%	0.5	%
	45	Winston-Salem, NC	83	3	438,898	92.1	%	91.5	%	4,937	12.61	0.6	%	0.5	%	0.5	%
	46	Wilmington, NC	174	2	379,107	89.8	%	89.8	%	4,930	14.64	0.4	%	0.4	%	0.5	%
	47	North Port-Sarasota-Bradenton, FL	73	4	556,862	93.8	%	91.3	%	4,927	9.51	0.8	%	0.6	%	0.5	%
	48	Greensboro-High Point, NC	74	1	406,768	100.0	%	98.1	%	4,901	14.09	0.2	%	0.5	%	0.5	%
	49	Washington-Arlington-Alexandria, DC-VA-MD-WV	7	3	451,260	98.3	%	96.0	%	4,895	11.04	0.6	%	0.5	%	0.5	%
	50	Ann Arbor, MI	147	3	663,535	98.1	%	97.3	%	4,660	9.35	0.6	%	0.8	%	0.5	%
		50 Largest MSAs by ABR	—	353	60,798,247	93.2	%	91.4	%	725,434	13.80	68.2	%	70.4	%	76.5	%
	51	Kansas City, MO-KS	29	4	602,466	92.2	%	91.5	%	4,357	7.98	0.8	%	0.7	%	0.5	%
	52	Manchester-Nashua, NH	131	2	348,189	98.0	%	88.5	%	4,282	20.27	0.4	%	0.4	%	0.5	%
	53	Mobile, AL	127	1	606,731	90.2	%	90.2	%	4,086	11.01	0.2	%	0.7	%	0.4	%
	54	Pittsfield, MA	315	1	442,354	100.0	%	100.0	%	3,913	20.11	0.2	%	0.5	%	0.4	%
	55	Jackson, MS	93	3	406,316	95.0	%	79.8	%	3,892	10.21	0.6	%	0.5	%	0.4	%
	56	Columbus, OH	32	4	449,488	88.1	%	88.1	%	3,864	10.34	0.8	%	0.5	%	0.4	%
	57	Boulder, CO	160	1	279,189	82.2	%	74.6	%	3,820	16.65	0.2	%	0.3	%	0.4	%
	58	Roanoke, VA	159	4	522,010	89.3	%	88.5	%	3,661	8.98	0.8	%	0.6	%	0.4	%
	59	Charleston-North Charleston, SC	76	3	556,809	79.1	%	78.9	%	3,571	8.29	0.6	%	0.6	%	0.4	%
	60	Panama City, FL	223	2	397,512	97.8	%	97.8	%	3,494	8.99	0.4	%	0.5	%	0.4	%
	61	Raleigh, NC	46	2	291,027	94.1	%	94.1	%	3,466	12.76	0.4	%	0.3	%	0.4	%
	62	Greenville-Anderson-Mauldin, SC	63	2	220,723	98.9	%	98.0	%	3,364	15.41	0.4	%	0.3	%	0.4	%
	63	Bakersfield, CA	62	1	240,328	99.9	%	99.9	%	3,295	13.97	0.2	%	0.3	%	0.3	%
	64	Spartanburg, SC	152	1	357,051	85.9	%	85.1	%	3,278	11.27	0.2	%	0.4	%	0.3	%
	65	Virginia Beach-Norfolk-Newport News, VA-NC	37	2	205,245	90.3	%	88.8	%	3,242	17.63	0.4	%	0.2	%	0.3	%
	66	Atlantic City-Hammonton, NJ	170	1	179,199	97.9	%	97.9	%	3,226	18.39	0.2	%	0.2	%	0.3	%
	67	Saginaw, MI	222	2	466,381	79.7	%	79.2	%	3,111	10.91	0.4	%	0.5	%	0.3	%
	68	Greenville, NC	237	1	233,153	96.8	%	96.8	%	2,947	13.06	0.2	%	0.3	%	0.3	%
	69	Lexington-Fayette, KY	107	2	414,960	97.5	%	97.5	%	2,940	7.27	0.4	%	0.5	%	0.3	%
	70	Elkhart-Goshen, IN	217	2	445,534	97.1	%	97.1	%	2,938	9.09	0.4	%	0.5	%	0.3	%
	71	Hilton Head Island-Bluffton-Beaufort, SC	216	2	227,761	94.2	%	92.6	%	2,882	13.43	0.4	%	0.3	%	0.3	%
	72	Toledo, OH	91	2	609,066	74.8	%	74.5	%	2,828	8.09	0.4	%	0.7	%	0.3	%
	73	Des Moines-West Des Moines, IA	89	2	511,885	90.0	%	88.6	%	2,824	6.20	0.4	%	0.6	%	0.3	%
	74	Savannah, GA	142	2	224,201	94.2	%	79.4	%	2,770	13.29	0.4	%	0.3	%	0.3	%
	75	Odessa, TX	268	1	365,559	100.0	%	100.0	%	2,765	12.10	0.2	%	0.4	%	0.3	%
	76	Tullahoma-Manchester, TN	378	3	433,744	94.2	%	94.2	%	2,710	6.63	0.6	%	0.5	%	0.3	%
	77	Traverse City, MI	286	1	412,755	97.6	%	96.9	%	2,706	27.35	0.2	%	0.5	%	0.3	%
	78	Baltimore-Columbia-Towson, MD	20	1	218,862	100.0	%	100.0	%	2,660	12.15	0.2	%	0.3	%	0.3	%
	79	Lafayette, LA	108	3	433,329	95.3	%	93.9	%	2,620	6.35	0.6	%	0.5	%	0.3	%
	80	Lancaster, PA	102	3	236,006	98.3	%	98.3	%	2,534	10.92	0.6	%	0.3	%	0.3	%
	81	Fort Wayne, IN	123	2	254,102	81.9	%	80.9	%	2,468	13.83	0.4	%	0.3	%	0.3	%

Supplemental Disclosure - Three Months Ended December 31, 2015 Page 36

LARGEST MSAs BY ABR
Dollars in thousands except per square foot amounts
														Percent of
				Number of		Percent		Percent						Number of		Percent		Percent
		Largest MSAs by ABR	MSA Rank	Properties	GLA	Leased		Billed		ABR		ABR / SF		Properties		of GLA		of ABR
	82	Bridgeport-Stamford-Norwalk, CT	57	1	160,536	87.9	%	57.9	%	2,448		17.34		0.2	%	0.2	%	0.3	%
	83	Richmond, VA	44	2	215,897	76.6	%	76.6	%	2,435		14.72		0.4	%	0.2	%	0.3	%
	84	Blacksburg-Christiansburg-Radford, VA	231	1	180,220	92.8	%	92.2	%	2,386		14.53		0.2	%	0.2	%	0.3	%
	85	Chattanooga, TN-GA	99	2	339,426	94.9	%	94.9	%	2,386		8.04		0.4	%	0.4	%	0.3	%
	86	Dover, DE	240	1	191,974	100.0	%	100.0	%	2,336		12.17		0.2	%	0.2	%	0.2	%
	87	Altoona, PA	326	1	278,586	96.4	%	96.4	%	2,276		8.47		0.2	%	0.3	%	0.2	%
	88	Merced, CA	177	1	146,364	96.7	%	90.1	%	2,234		15.78		0.2	%	0.2	%	0.2	%
	89	Corning, NY	386	1	253,335	100.0	%	100.0	%	2,086		8.23		0.2	%	0.3	%	0.2	%
	90	Duluth, MN-WI	164	1	182,969	99.3	%	99.3	%	2,031		11.17		0.2	%	0.2	%	0.2	%
	91	Concord, NH	288	1	182,887	100.0	%	100.0	%	2,012		11.26		0.2	%	0.2	%	0.2	%
	92	York-Hanover, PA	119	1	153,088	100.0	%	100.0	%	1,977		13.15		0.2	%	0.2	%	0.2	%
	93	Sacramento--Roseville--Arden-Arcade, CA	27	1	103,695	95.6	%	95.6	%	1,966		19.84		0.2	%	0.1	%	0.2	%
	94	Santa Maria-Santa Barbara, CA	120	1	179,495	100.0	%	96.4	%	1,957		11.75		0.2	%	0.2	%	0.2	%
	95	Portland-South Portland, ME	104	1	287,513	91.8	%	89.4	%	1,917		20.08		0.2	%	0.3	%	0.2	%
	96	Pittsburgh, PA	23	1	199,079	100.0	%	100.0	%	1,910		10.64		0.2	%	0.2	%	0.2	%
	97	Hickory-Lenoir-Morganton, NC	145	2	295,970	77.7	%	77.7	%	1,908		8.30		0.4	%	0.3	%	0.2	%
	98	Rutland, VT	529	1	224,514	98.2	%	98.2	%	1,906		8.64		0.2	%	0.3	%	0.2	%
	99	Springfield, IL	208	2	178,644	93.0	%	93.0	%	1,850		11.15		0.4	%	0.2	%	0.2	%
	100	Trenton, NJ	143	2	205,670	94.4	%	93.2	%	1,833		9.44		0.4	%	0.2	%	0.2	%
		100 Largest MSAs by ABR	—	440	76,350,044	93.0	%	91.2	%	865,802		13.28		85.0	%	88.3	%	91.4	%
		Other MSAs	—	78	10,265,528	89.9	%	89.1	%	79,865		8.99		15.1	%	11.7	%	8.6	%
	TOTAL		—	518	86,615,572	92.6	%	91.0	%	$	945,667	$	12.76	100.0	%	100.0	%	100.0	%

Supplemental Disclosure - Three Months Ended December 31, 2015 Page 37

PROPERTIES BY STATE
Dollars in thousands except per square foot amounts
													Percent of
			Number of		Percent		Percent						Number of		Percent		Percent
		State	Properties	GLA	Leased		Billed		ABR		ABR / SF		Properties		of GLA		of ABR
	1	Texas	66	9,546,631	92.0	%	90.4	%	$	105,293	$	12.84	12.7	%	11.0	%	11.1	%
	2	Florida	58	9,013,977	91.2	%	88.5	%	104,328		13.14		11.1	%	10.4	%	11.0	%
	3	California	29	5,776,931	97.6	%	95.4	%	91,001		17.19		5.5	%	6.6	%	9.6	%
	4	Pennsylvania	36	5,952,138	96.0	%	95.6	%	68,267		14.41		6.9	%	6.9	%	7.2	%
	5	New York	33	4,340,537	91.6	%	89.9	%	64,126		16.79		6.4	%	5.0	%	6.8	%
	6	Illinois	24	4,851,372	92.3	%	91.0	%	51,999		12.59		4.6	%	5.6	%	5.5	%
	7	Georgia	37	5,264,566	89.9	%	88.4	%	45,960		9.93		7.1	%	6.1	%	4.9	%
	8	Ohio	24	4,526,015	91.6	%	91.0	%	42,685		11.92		4.6	%	5.2	%	4.5	%
	9	New Jersey	18	3,084,514	94.4	%	93.3	%	42,363		15.48		3.5	%	3.6	%	4.5	%
	10	North Carolina	21	4,325,767	91.3	%	90.0	%	40,714		10.90		4.1	%	5.0	%	4.3	%
	11	Michigan	19	3,700,324	92.3	%	91.3	%	32,422		11.75		3.7	%	4.3	%	3.4	%
	12	Connecticut	15	2,260,429	95.0	%	89.8	%	30,815		15.41		2.9	%	2.6	%	3.3	%
	13	Tennessee	16	3,238,621	94.7	%	92.9	%	29,938		10.22		3.1	%	3.7	%	3.2	%
	14	Kentucky	12	2,583,516	96.3	%	96.1	%	21,714		9.31		2.3	%	3.0	%	2.3	%
	15	Massachusetts	11	1,885,703	94.0	%	93.2	%	21,298		15.31		2.1	%	2.2	%	2.3	%
	16	Colorado	6	1,478,898	92.4	%	88.5	%	18,272		13.43		1.2	%	1.7	%	2.0	%
	17	Minnesota	10	1,474,437	92.1	%	91.4	%	15,605		12.22		1.9	%	1.7	%	1.7	%
	18	Indiana	12	1,963,426	87.9	%	86.5	%	15,428		9.74		2.3	%	2.3	%	1.6	%
	19	Virginia	11	1,446,496	84.2	%	83.5	%	13,677		11.85		2.1	%	1.7	%	1.4	%
	20	South Carolina	8	1,362,344	86.6	%	85.9	%	13,095		11.34		1.5	%	1.6	%	1.4	%
	21	Maryland	5	776,427	100.0	%	98.2	%	9,915		12.83		1.0	%	0.9	%	1.0	%
	22	Nevada	3	613,061	94.3	%	93.5	%	8,274		14.39		0.6	%	0.7	%	0.9	%
	23	New Hampshire	5	770,330	90.4	%	84.0	%	7,851		14.35		1.0	%	0.9	%	0.8	%
	24	Alabama	4	984,573	92.7	%	92.4	%	7,369		10.00		0.8	%	1.1	%	0.8	%
	25	Wisconsin	5	760,890	90.2	%	89.9	%	7,032		10.25		1.0	%	0.9	%	0.7	%
	26	Missouri	6	862,861	89.8	%	87.1	%	6,488		8.51		1.2	%	1.0	%	0.7	%
	27	Iowa	4	721,937	90.0	%	89.1	%	4,157		6.45		0.8	%	0.8	%	0.4	%
	28	Mississippi	3	406,316	95.0	%	79.8	%	3,892		10.21		0.6	%	0.5	%	0.4	%
	29	Louisiana	4	612,368	96.0	%	95.1	%	3,702		6.30		0.8	%	0.7	%	0.4	%
	30	Kansas	2	367,779	91.7	%	91.1	%	2,890		11.11		0.4	%	0.4	%	0.3	%
	31	Arizona	2	288,110	77.3	%	62.2	%	2,638		11.85		0.4	%	0.3	%	0.3	%
	32	Delaware	1	191,974	100.0	%	100.0	%	2,336		12.17		0.2	%	0.2	%	0.2	%
	33	West Virginia	2	251,500	97.2	%	96.9	%	2,012		8.23		0.4	%	0.3	%	0.2	%
	34	Maine	1	287,513	91.8	%	89.4	%	1,917		20.08		0.2	%	0.3	%	0.2	%
	35	Vermont	1	224,514	98.2	%	98.2	%	1,906		8.64		0.2	%	0.3	%	0.2	%
	36	Oklahoma	1	186,851	100.0	%	100.0	%	1,765		9.45		0.2	%	0.2	%	0.2	%
	37	Rhode Island	1	148,126	99.2	%	99.2	%	1,556		10.59		0.2	%	0.2	%	0.2	%
	38	New Mexico	2	83,800	100.0	%	100.0	%	967		11.54		0.4	%	0.1	%	0.1	%
	TOTAL		518	86,615,572	92.6	%	91.0	%	$	945,667	$	12.76	100.0	%	100.0	%	100.0	%

Supplemental Disclosure - Three Months Ended December 31, 2015 Page 38

PROPERTY LIST
Dollars in thousands except per square foot amounts
					Year		Percent
	Property Name	City	State	Metropolitan Statistical Area	Built	GLA	Leased		ABR		ABR / SF		Grocer (1)	Other Major Tenants	Non-Owned Major Tenants
1	Winchester Plaza	Huntsville	AL	Huntsville, AL	2006	75,780	94.6	%	$	892	$	12.44	Publix	—
2	Springdale	Mobile	AL	Mobile, AL	2004	606,731	90.2	%	4,086		11.02		Sam's Club*	Belk, Best Buy, Big Lots, Burlington Stores, Marshalls, Michaels, Staples
3	Payton Park	Sylacauga	AL	Talladega-Sylacauga, AL	1995	231,820	99.4	%	1,566		6.80		Walmart Supercenter	Burke's Outlet
4	Shops of Tuscaloosa	Tuscaloosa	AL	Tuscaloosa, AL	2005	70,242	90.7	%	825		12.94		Publix	—
5	Glendale Galleria	Glendale	AZ	Phoenix-Mesa-Scottsdale, AZ	2015	119,525	70.1	%	1,023		12.21		—	LA Fitness, Sears Outlet
6	Northmall Centre	Tucson	AZ	Tucson, AZ	1996	168,585	82.4	%	1,615		11.63		Sam's Club*	CareMore, JC Penney Home Store, Stein Mart
7	Applegate Ranch Shopping Center	Atwater	CA	Merced, CA	2006	146,364	96.7	%	2,234		15.78		SuperTarget*, Walmart Supercenter*	Marshalls, Petco
8	Bakersfield Plaza	Bakersfield	CA	Bakersfield, CA	2014	240,328	99.9	%	3,295		13.97		Lassens Natural Foods & Vitamins	Burlington Stores, Ross Dress for Less
9	Carmen Plaza	Camarillo	CA	Oxnard-Thousand Oaks-Ventura, CA	2000	129,173	94.4	%	1,979		17.15		Trader Joe's*	24 Hour Fitness, CVS, Michaels
10	Plaza Rio Vista	Cathedral	CA	Riverside-San Bernardino-Ontario, CA	2005	67,622	87.1	%	1,058		17.96		Stater Bros.	—
11	Clovis Commons	Clovis	CA	Fresno, CA	2004	174,990	97.8	%	3,701		21.63		—	Best Buy, Office Depot, PetSmart, T.J.Maxx	Target
12	Cudahy Plaza	Cudahy	CA	Los Angeles-Long Beach-Anaheim, CA	1994	147,804	100.0	%	1,369		9.26		—	Big Lots, Kmart
13	University Mall	Davis	CA	Sacramento--Roseville--Arden-Arcade, CA	2011	103,695	95.6	%	1,966		19.84		Trader Joe's	Forever 21, World Market
14	Felicita Plaza	Escondido	CA	San Diego-Carlsbad, CA	2001	98,714	100.0	%	1,441		14.60		Vons (Albertsons)	Chuze Fitness
15	Arbor - Broadway Faire	Fresno	CA	Fresno, CA	1995	261,344	98.3	%	3,692		14.37		Smart & Final Extra!	PetSmart, The Home Depot, United Artists Theatres
16	Lompoc Center	Lompoc	CA	Santa Maria-Santa Barbara, CA	2015	179,495	100.0	%	1,957		11.75		Vons (Albertsons)	Harbor Freight Tools, Marshalls, Michaels, Staples
17	Briggsmore Plaza	Modesto	CA	Modesto, CA	1998	92,315	100.0	%	1,143		13.10		Grocery Outlet	Fallas Paredes, Sears Outlet
18	Montebello Plaza	Montebello	CA	Los Angeles-Long Beach-Anaheim, CA	2012	283,631	93.9	%	4,424		16.96		Albertsons	99¢ Only, Best Buy, CVS, Ross Dress for Less
19	California Oaks Center	Murrieta	CA	Riverside-San Bernardino-Ontario, CA	2015	125,187	80.8	%	1,419		14.58		Baron's Market	Dollar Tree
20	Esplanade Shopping Center	Oxnard	CA	Oxnard-Thousand Oaks-Ventura, CA	2012	356,864	100.0	%	6,834		19.32		Walmart Neighborhood Market	Bed Bath & Beyond, Dick's Sporting Goods, LA Fitness, Nordstrom Rack, T.J.Maxx	The Home Depot
21	Pacoima Center	Pacoima	CA	Los Angeles-Long Beach-Anaheim, CA	1995	202,773	100.0	%	2,166		10.68		Food 4 Less (Kroger)	Ross Dress for Less, Target
22	Paradise Plaza	Paradise	CA	Chico, CA	1997	198,323	97.5	%	938		5.99		Save Mart	Kmart
23	Metro 580	Pleasanton	CA	San Francisco-Oakland-Hayward, CA	2015	176,510	100.0	%	2,641		32.60		—	Kohl's, Party City, Sport Chalet	Walmart
24	Rose Pavilion	Pleasanton	CA	San Francisco-Oakland-Hayward, CA	2014	300,473	94.0	%	6,310		22.38		99 Ranch Market	Golfsmith, Macy's Home Store
25	Puente Hills Town Center	Rowland Heights	CA	Los Angeles-Long Beach-Anaheim, CA	1984	258,685	99.7	%	5,446		21.11		—	Marshalls, Michaels
26	San Bernardino Center	San Bernardino	CA	Riverside-San Bernardino-Ontario, CA	2003	143,082	100.0	%	1,044		7.30		—	Big Lots, Target
27	Ocean View Plaza	San Clemente	CA	Los Angeles-Long Beach-Anaheim, CA	2015	169,963	100.0	%	4,617		27.17		Ralphs (Kroger), Trader Joe's	CVS, Crunch Fitness
28	Mira Mesa Mall	San Diego	CA	San Diego-Carlsbad, CA	2003	408,800	97.3	%	7,728		20.22		Vons (Albertsons)	Bed Bath & Beyond, Kohl's, Marshalls, Mira Mesa Lanes
29	San Dimas Plaza	San Dimas	CA	Los Angeles-Long Beach-Anaheim, CA	2013	164,757	98.5	%	3,508		21.62		Smart & Final Extra!	Harbor Freight Tools, T.J.Maxx	Rite Aid
30	Bristol Plaza	Santa Ana	CA	Los Angeles-Long Beach-Anaheim, CA	2003	111,403	100.0	%	2,776		26.72		Trader Joe's	Big Lots, Petco, Rite Aid
31	Gateway Plaza	Santa Fe Springs	CA	Los Angeles-Long Beach-Anaheim, CA	2002	289,268	100.0	%	3,566		23.98		El Super, Walmart Supercenter	LA Fitness, Marshalls	Target
32	Santa Paula Center	Santa Paula	CA	Oxnard-Thousand Oaks-Ventura, CA	1995	191,475	99.5	%	1,958		10.27		Vons (Albertsons)	Big Lots, Heritage Hardware
33	Vail Ranch Center	Temecula	CA	Riverside-San Bernardino-Ontario, CA	2003	201,904	95.7	%	2,890		14.96		Stater Bros.	Rite Aid, Stein Mart
34	Country Hills Shopping Center	Torrance	CA	Los Angeles-Long Beach-Anaheim, CA	1977	56,750	100.0	%	1,027		19.31		Ralphs (Kroger)	—
35	Gateway Plaza - Vallejo	Vallejo	CA	Vallejo-Fairfield, CA	2015	495,239	96.7	%	7,874		16.52		Costco*	Bed Bath & Beyond, Century Theatres, Marshalls, Ross Dress for Less, Toys"R"Us	Target
36	Arvada Plaza	Arvada	CO	Denver-Aurora-Lakewood, CO	1994	95,236	100.0	%	714		7.50		King Soopers (Kroger)	Arc
37	Arapahoe Crossings	Aurora	CO	Denver-Aurora-Lakewood, CO	2015	466,373	94.4	%	6,057		13.76		King Soopers (Kroger)	2nd & Charles, AMC Theatres, Big Lots, buybuy BABY, Gordmans, Kohl's, Stein Mart
38	Aurora Plaza	Aurora	CO	Denver-Aurora-Lakewood, CO	1996	178,491	98.1	%	1,471		8.71		King Soopers (Kroger)	Cinema Latino, Gen-X
39	Villa Monaco	Denver	CO	Denver-Aurora-Lakewood, CO	2013	122,139	90.4	%	1,526		13.82		Walmart Neighborhood Market	—
40	Superior Marketplace	Superior	CO	Boulder, CO	2015	279,189	82.2	%	3,820		16.65		Whole Foods Market, Costco*, SuperTarget*	Party City, T.J.Maxx, Ulta
41	Westminster City Center	Westminster	CO	Denver-Aurora-Lakewood, CO	2014	337,470	93.9	%	4,684		14.78		—	Babies"R"Us, Barnes & Noble, Gordmans, Jo-Ann Fabric & Craft Stores, Ross Dress for Less, Tile Shop, Ulta
42	Freshwater - Stateline Plaza	Enfield	CT	Hartford-West Hartford-East Hartford, CT	2004	295,647	95.9	%	2,445		16.66		Costco	Dick's Sporting Goods, Jo-Ann Fabric & Craft Stores, P.C. Richard & Son	The Home Depot
43	The Shoppes at Fox Run	Glastonbury	CT	Hartford-West Hartford-East Hartford, CT	2012	106,364	98.4	%	2,473		23.62		Whole Foods Market	Petco
44	Groton Square	Groton	CT	Norwich-New London, CT	1987	196,802	97.2	%	2,659		13.90		Super Stop & Shop (Ahold)	Kohl's	Walmart
45	Parkway Plaza	Hamden	CT	New Haven-Milford, CT	2006	72,353	100.0	%	980		13.55		PriceRite (ShopRite)	—
46	Killingly Plaza	Killingly	CT	Worcester, MA-CT	1990	76,960	98.7	%	606		7.98		—	Kohl's
47	The Manchester Collection	Manchester	CT	Hartford-West Hartford-East Hartford, CT	2015	339,775	91.2	%	4,290		13.84		Sam's Club*, Walmart Supercenter*	A.C. Moore, Ashley Furniture, Babies"R"Us, Bed Bath & Beyond, Big Bob's Flooring Outlet, DSW, Edge Fitness, Hobby Lobby, Plaza Aztec	Walmart
48	Chamberlain Plaza	Meriden	CT	New Haven-Milford, CT	2004	54,302	100.0	%	629		11.58		—	Dollar Tree, Savers

Supplemental Disclosure - Three Months Ended December 31, 2015 Page 39

PROPERTY LIST
Dollars in thousands except per square foot amounts
					Year		Percent
	Property Name	City	State	Metropolitan Statistical Area	Built	GLA	Leased		ABR	ABR / SF	Grocer (1)	Other Major Tenants	Non-Owned Major Tenants
49	Milford Center	Milford	CT	New Haven-Milford, CT	1966	25,056	100.0	%	341	13.61	Xpect Discounts	—
50	Turnpike Plaza	Newington	CT	Hartford-West Hartford-East Hartford, CT	2004	149,894	100.0	%	2,524	16.84	Price Chopper	Dick's Sporting Goods
51	North Haven Crossing	North Haven	CT	New Haven-Milford, CT	2015	104,017	88.4	%	1,648	17.93	—	Barnes & Noble, Dollar Tree, DSW, Five Below, Lumber Liquidators, PetSmart
52	Christmas Tree Plaza	Orange	CT	New Haven-Milford, CT	1996	132,791	98.6	%	1,906	14.56	—	A.C. Moore, Christmas Tree Shops
53	Stratford Square	Stratford	CT	Bridgeport-Stamford-Norwalk, CT	2015	160,536	87.9	%	2,448	17.34	—	LA Fitness, Marshalls
54	Torrington Plaza	Torrington	CT	Torrington, CT	1994	125,496	93.5	%	1,228	11.45	—	Jo-Ann Fabric & Craft Stores, Staples, T.J.Maxx
55	Waterbury Plaza	Waterbury	CT	New Haven-Milford, CT	2000	183,706	91.0	%	2,210	13.26	Super Stop & Shop (Ahold)	Dollar Tree, Pretty Woman	Target
56	Waterford Commons	Waterford	CT	Norwich-New London, CT	2004	236,730	98.0	%	4,428	19.09	—	Babies"R"Us, Dick’s Sporting Goods, DSW, Michaels, Party City, Ulta	Best Buy
57	North Dover Center	Dover	DE	Dover, DE	2013	191,974	100.0	%	2,336	12.17	Acme (Albertsons)	Party City, Staples, T.J.Maxx, Toys"R"Us
58	Apopka Commons	Apopka	FL	Orlando-Kissimmee-Sanford, FL	2010	42,507	81.3	%	459	13.29	—	Dollar Tree, Staples	The Home Depot
59	Brooksville Square	Brooksville	FL	Tampa-St. Petersburg-Clearwater, FL	2013	156,361	96.0	%	1,618	10.78	Publix	Sears Outlet
60	Coastal Way - Coastal Landing	Brooksville	FL	Tampa-St. Petersburg-Clearwater, FL	2008	370,898	97.1	%	3,392	16.08	—	Bed Bath & Beyond, Belk, hhgregg, Marshalls, Michaels, Office Depot, Petco, Sears, Ulta
61	Midpoint Center	Cape Coral	FL	Cape Coral-Fort Myers, FL	2002	75,386	100.0	%	1,041	13.81	Publix	—	Target
62	Clearwater Mall	Clearwater	FL	Tampa-St. Petersburg-Clearwater, FL	2012	300,929	98.7	%	6,363	22.56	Costco*, SuperTarget*	hhgregg, Michaels, PetSmart, Ross Dress for Less	Lowe's
63	Coconut Creek Plaza	Coconut Creek	FL	Miami-Fort Lauderdale-West Palm Beach, FL	2005	265,671	80.1	%	2,760	12.96	Publix	Bealls Outlet, Big Lots, Off the Wall Trampoline, Planet Fitness, Rainbow
64	Century Plaza Shopping Center	Deerfield Beach	FL	Miami-Fort Lauderdale-West Palm Beach, FL	2006	73,077	94.2	%	1,500	21.80	—	Broward County Library
65	Northgate Shopping Center	DeLand	FL	Deltona-Daytona Beach-Ormond Beach, FL	1993	186,396	97.2	%	1,268	7.00	Publix	—
66	Eustis Village	Eustis	FL	Orlando-Kissimmee-Sanford, FL	2002	156,927	96.9	%	1,733	11.40	Publix	Bealls Outlet
67	First Street Village	Fort Meyers	FL	Cape Coral-Fort Myers, FL	2006	54,926	97.3	%	790	14.78	Publix	—
68	Sun Plaza	Ft. Walton Beach	FL	Crestview-Fort Walton Beach-Destin, FL	2004	158,118	99.1	%	1,619	10.33	Publix	Bealls Outlet, Books-A-Million, Office Depot, T.J.Maxx
69	Normandy Square	Jacksonville	FL	Jacksonville, FL	1996	87,240	100.0	%	755	8.65	Winn-Dixie (Southeastern Grocers)	Family Dollar
70	Regency Park Shopping Center	Jacksonville	FL	Jacksonville, FL	2015	334,065	90.4	%	2,395	7.93	—	American Signature Furniture, Bealls Outlet, Books-A-Million, Hard Knocks, Ollie's Bargain Outlet
71	The Shoppes at Southside	Jacksonville	FL	Jacksonville, FL	2004	109,113	63.3	%	1,765	25.54	—	Best Buy, David's Bridal
72	Ventura Downs	Kissimmee	FL	Orlando-Kissimmee-Sanford, FL	2005	98,191	97.1	%	1,235	12.95	Publix Sabor	—
73	Marketplace at Wycliffe	Lake Worth	FL	Miami-Fort Lauderdale-West Palm Beach, FL	2015	133,520	94.2	%	2,078	16.52	Walmart Neighborhood Market	Walgreens
74	Venetian Isle Shopping Ctr	Lighthouse Point	FL	Miami-Fort Lauderdale-West Palm Beach, FL	1992	181,401	95.3	%	1,768	10.53	Publix	Dollar Tree, Petco, Staples, Tuesday Morning, T.J.Maxx
75	Marco Town Center	Marco Island	FL	Naples-Immokalee-Marco Island, FL	2001	109,830	94.5	%	2,115	20.38	Publix	—
76	Mall at 163rd Street	Miami	FL	Miami-Fort Lauderdale-West Palm Beach, FL	2007	339,478	75.9	%	3,753	18.05	Walmart Supercenter*	Citi Trends, Marshalls, Ross Dress for Less
77	Miami Gardens	Miami	FL	Miami-Fort Lauderdale-West Palm Beach, FL	1996	244,719	96.3	%	2,467	10.47	Winn-Dixie (Southeastern Grocers)	Ross Dress for Less
78	Freedom Square	Naples	FL	Naples-Immokalee-Marco Island, FL	1995	211,839	100.0	%	1,924	9.08	Publix	—
79	Naples Plaza	Naples	FL	Naples-Immokalee-Marco Island, FL	2013	200,820	100.0	%	3,385	17.15	Publix	Marshalls, Office Depot, PGA TOUR Superstore
80	Park Shore Plaza	Naples	FL	Naples-Immokalee-Marco Island, FL	2015	246,790	90.5	%	3,399	15.60	The Fresh Market	Big Lots, Burlington Stores, HomeGoods, Party City, Saks OFF Fifth
81	Chelsea Place	New Port Richey	FL	Tampa-St. Petersburg-Clearwater, FL	1992	81,144	95.1	%	919	11.91	Publix	Zone Fitness Club
82	Southgate Center	New Port Richey	FL	Tampa-St. Petersburg-Clearwater, FL	2012	238,838	96.7	%	2,265	10.26	Publix	Bealls Outlet, Big Lots, Lumber Liquidators, Old Time Pottery, YouFit Health Club
83	Presidential Plaza West	North Lauderdale	FL	Miami-Fort Lauderdale-West Palm Beach, FL	2006	88,306	78.5	%	675	9.74	Sedano's	Family Dollar
84	Fashion Square	Orange Park	FL	Jacksonville, FL	1996	36,029	50.4	%	395	30.62	—	Miller's Orange Park Ale House, Ruby Tuesday, Samurai Japanese Steakhouse
85	Colonial Marketplace	Orlando	FL	Orlando-Kissimmee-Sanford, FL	2014	141,069	99.1	%	2,296	16.42	—	Burlington Stores, LA Fitness	Target
86	Conway Crossing	Orlando	FL	Orlando-Kissimmee-Sanford, FL	2002	76,321	98.7	%	958	12.72	Publix	—
87	Hunter's Creek Plaza	Orlando	FL	Orlando-Kissimmee-Sanford, FL	1998	73,204	93.4	%	1,032	15.09	—	Office Depot
88	Pointe Orlando	Orlando	FL	Orlando-Kissimmee-Sanford, FL	2015	428,066	89.8	%	8,098	22.22	—	Main Event, Regal Cinemas
89	Martin Downs Town Center	Palm City	FL	Port St. Lucie, FL	1996	64,546	95.7	%	724	11.73	Publix	—
90	Martin Downs Village Center	Palm City	FL	Port St. Lucie, FL	1987	154,964	85.7	%	2,407	18.12	—	Goodwill, Martin Memorial, Walgreens
91	23rd Street Station	Panama City	FL	Panama City, FL	1995	98,827	91.2	%	1,094	12.13	Publix	—
92	Panama City Square	Panama City	FL	Panama City, FL	2015	298,685	100.0	%	2,400	8.04	Walmart Supercenter	Big Lots, Harbor Freight Tools, Sports Authority, T.J.Maxx
93	Pensacola Square	Pensacola	FL	Pensacola-Ferry Pass-Brent, FL	1995	142,767	83.2	%	1,091	9.82	—	Bealls Outlet, Big Lots, Petland, Sears Home Appliance Showroom	Hobby Lobby
94	Shopper's Haven Shopping Ctr	Pompano Beach	FL	Miami-Fort Lauderdale-West Palm Beach, FL	1998	206,791	96.6	%	2,629	13.58	Winn-Dixie (Southeastern Grocers)	A.C. Moore, Bealls Outlet, Bed Bath & Beyond, Party City, YouFit Health Club
95	East Port Plaza	Port St. Lucie	FL	Port St. Lucie, FL	1991	162,831	82.7	%	1,797	13.34	Publix	Fortis Institute, Walgreens

Supplemental Disclosure - Three Months Ended December 31, 2015 Page 40

PROPERTY LIST
Dollars in thousands except per square foot amounts
					Year		Percent
	Property Name	City	State	Metropolitan Statistical Area	Built	GLA	Leased		ABR	ABR / SF	Grocer (1)	Other Major Tenants	Non-Owned Major Tenants
96	Shoppes of Victoria Square	Port St. Lucie	FL	Port St. Lucie, FL	1990	95,243	80.1	%	906	11.87	Winn-Dixie (Southeastern Grocers)	Dollar Tree
97	Lake St. Charles	Riverview	FL	Tampa-St. Petersburg-Clearwater, FL	1999	57,015	95.4	%	555	10.21	Winn-Dixie (Southeastern Grocers)	—
98	Cobblestone Village	Royal Palm Beach	FL	Miami-Fort Lauderdale-West Palm Beach, FL	2005	39,404	87.4	%	628	18.24	SuperTarget*	The Zoo Health Club
99	Beneva Village Shoppes	Sarasota	FL	North Port-Sarasota-Bradenton, FL	1987	141,532	88.9	%	1,494	11.87	Publix	Harbor Freight Tools, Walgreens, YouFit Health Club
100	Sarasota Village	Sarasota	FL	North Port-Sarasota-Bradenton, FL	2011	173,184	100.0	%	1,945	11.52	Publix	Big Lots, Crunch Fitness, HomeGoods
101	Atlantic Plaza	Satellite Beach	FL	Palm Bay-Melbourne-Titusville, FL	2008	130,845	73.0	%	1,236	12.94	Publix	—
102	Seminole Plaza	Seminole	FL	Tampa-St. Petersburg-Clearwater, FL	2015	146,579	95.1	%	1,094	7.85	—	Bealls Outlet, Burlington Stores, T.J.Maxx
103	Cobblestone Village	St. Augustine	FL	Jacksonville, FL	2015	261,061	92.5	%	3,202	13.26	Publix	Bealls, Bed Bath & Beyond, Michaels, Party City, Petco
104	Dolphin Village	St. Pete Beach	FL	Tampa-St. Petersburg-Clearwater, FL	1990	134,324	83.3	%	1,609	14.39	Publix	CVS, Dollar Tree
105	Bay Pointe Plaza	St. Petersburg	FL	Tampa-St. Petersburg-Clearwater, FL	2002	103,986	84.2	%	946	10.81	Publix	Bealls Outlet
106	Rutland Plaza	St. Petersburg	FL	Tampa-St. Petersburg-Clearwater, FL	2002	149,562	91.7	%	1,232	8.99	Winn-Dixie (Southeastern Grocers)	Bealls Outlet, Big Lots
107	Skyway Plaza	St. Petersburg	FL	Tampa-St. Petersburg-Clearwater, FL	2002	110,799	88.8	%	873	8.87	Winn-Dixie (Southeastern Grocers)**	Dollar Tree
108	Tyrone Gardens	St. Petersburg	FL	Tampa-St. Petersburg-Clearwater, FL	1998	209,337	85.1	%	1,578	8.86	Winn-Dixie (Southeastern Grocers)	Bealls Outlet, Big Lots, Chuck E. Cheese’s
109	Downtown Publix	Stuart	FL	Port St. Lucie, FL	2000	151,246	58.1	%	1,088	12.38	Publix	Family Dollar
110	Sunrise Town Center	Sunrise	FL	Miami-Fort Lauderdale-West Palm Beach, FL	1989	110,109	94.2	%	1,279	12.33	Patel Brothers	Dollar Tree, LA Fitness	Walmart
111	Carrollwood Center	Tampa	FL	Tampa-St. Petersburg-Clearwater, FL	2002	90,558	98.4	%	1,423	15.98	Publix	Rarehues
112	Ross Plaza	Tampa	FL	Tampa-St. Petersburg-Clearwater, FL	1996	90,625	99.2	%	1,164	12.95	—	Deal$, Ross Dress for Less, Lumber Liquidators
113	Tarpon Mall	Tarpon Springs	FL	Tampa-St. Petersburg-Clearwater, FL	2003	145,832	100.0	%	2,226	15.26	Publix	Petco, T.J.Maxx, Ulta
114	Venice Plaza	Venice	FL	North Port-Sarasota-Bradenton, FL	1999	132,345	98.3	%	909	6.99	Winn-Dixie (Southeastern Grocers)	Lumber Liquidators, Pet Supermarket, T.J.Maxx
115	Venice Shopping Center	Venice	FL	North Port-Sarasota-Bradenton, FL	2000	109,801	84.7	%	579	6.22	Publix	Bealls Outlet
116	Governors Town Square	Acworth	GA	Atlanta-Sandy Springs-Roswell, GA	2005	68,658	98.0	%	1,159	17.23	Publix	—
117	Albany Plaza	Albany	GA	Albany, GA	1995	114,169	75.1	%	542	6.32	Harveys (Southeastern Grocers)	Big Lots, OK Beauty & Fashions Outlet
118	Mansell Crossing	Alpharetta	GA	Atlanta-Sandy Springs-Roswell, GA	2015	332,364	99.6	%	5,100	19.19	—	AMC Theatres, Barnes & Noble, DSW, Macy's Furniture Gallery, REI, Sports Authority, T.J.Maxx, Ulta	Toys"R"Us
119	Perlis Plaza	Americus	GA	Americus, GA	1972	165,315	83.5	%	787	5.70	—	Belk, Roses
120	Northeast Plaza	Atlanta	GA	Atlanta-Sandy Springs-Roswell, GA	2015	442,201	95.5	%	4,546	10.91	City Farmers Market	Atlanta Ballroom Dance Club, dd's Discounts, Goodwill
121	Augusta West Plaza	Augusta	GA	Augusta-Richmond County, GA-SC	2006	207,823	69.5	%	1,093	7.57	—	Burlington Stores, Dollar Tree
122	Sweetwater Village	Austell	GA	Atlanta-Sandy Springs-Roswell, GA	1985	66,197	100.0	%	495	7.48	Food Depot	Family Dollar
123	Vineyards at Chateau Elan	Braselton	GA	Atlanta-Sandy Springs-Roswell, GA	2002	79,047	87.7	%	962	13.88	Publix	—
124	Cedar Plaza	Cedartown	GA	Cedartown, GA	1994	83,300	76.5	%	545	8.56	Kroger	—
125	Conyers Plaza	Conyers	GA	Atlanta-Sandy Springs-Roswell, GA	2001	171,374	97.4	%	1,975	11.83	Walmart Supercenter*	Jo-Ann Fabric & Craft Stores, Mattress Firm, PetSmart, Value Village	The Home Depot
126	Cordele Square	Cordele	GA	Cordele, GA	2002	127,953	82.6	%	665	6.29	Harveys (Southeastern Grocers)	Belk, Citi Trends, Cordele Theatres
127	Covington Gallery	Covington	GA	Atlanta-Sandy Springs-Roswell, GA	1991	174,857	88.2	%	952	6.18	Ingles	Kmart
128	Salem Road Station	Covington	GA	Atlanta-Sandy Springs-Roswell, GA	2000	67,270	94.5	%	722	11.36	Publix	—
129	Keith Bridge Commons	Cumming	GA	Atlanta-Sandy Springs-Roswell, GA	2002	94,886	91.0	%	1,125	13.03	Kroger	Anytime Fitness
130	Northside	Dalton	GA	Dalton, GA	2001	73,931	83.8	%	490	7.91	Food City	Family Dollar
131	Cosby Station	Douglasville	GA	Atlanta-Sandy Springs-Roswell, GA	1994	77,811	91.2	%	770	10.86	Publix	—
132	Park Plaza	Douglasville	GA	Atlanta-Sandy Springs-Roswell, GA	1986	46,494	79.1	%	586	15.94	Kroger*	—
133	Dublin Village	Dublin	GA	Dublin, GA	2005	94,920	98.5	%	703	7.52	Kroger	—
134	Westgate	Dublin	GA	Dublin, GA	2004	113,138	94.0	%	676	6.59	Harveys (Southeastern Grocers)	Bealls Outlet, Big Lots	The Home Depot
135	Venture Pointe	Duluth	GA	Atlanta-Sandy Springs-Roswell, GA	2012	155,172	89.0	%	1,431	10.36	—	American Signature Furniture, Ollie's Bargain Outlet, Studio Movie Grill
136	Banks Station	Fayetteville	GA	Atlanta-Sandy Springs-Roswell, GA	2006	176,451	84.7	%	1,096	8.50	Food Depot	Cinemark, Staples
137	Barrett Place	Kennesaw	GA	Atlanta-Sandy Springs-Roswell, GA	1994	218,818	100.0	%	2,137	9.77	—	Best Buy, Michaels, OfficeMax, PetSmart, Sports Authority, The Furniture Mall
138	Shops of Huntcrest	Lawrenceville	GA	Atlanta-Sandy Springs-Roswell, GA	2003	97,040	95.6	%	1,232	13.28	Publix	—
139	Mableton Walk	Mableton	GA	Atlanta-Sandy Springs-Roswell, GA	1994	105,884	80.9	%	1,102	12.86	Publix	—
140	The Village at Mableton	Mableton	GA	Atlanta-Sandy Springs-Roswell, GA	2015	239,013	81.8	%	869	4.59	—	Dollar Tree, Kmart, Ollie's Bargain Outlet
141	North Park	Macon	GA	Macon, GA	2013	216,795	99.0	%	1,356	6.32	Kroger	Kmart
142	Marshalls at Eastlake	Marietta	GA	Atlanta-Sandy Springs-Roswell, GA	1982	54,976	97.8	%	521	9.69	—	Marshalls
143	New Chastain Corners	Marietta	GA	Atlanta-Sandy Springs-Roswell, GA	2004	113,079	80.7	%	905	9.92	Kroger	—
144	Pavilions at Eastlake	Marietta	GA	Atlanta-Sandy Springs-Roswell, GA	1996	154,224	89.5	%	1,701	12.32	Kroger	J. Christopher's
145	Perry Marketplace	Perry	GA	Warner Robins, GA	2004	179,973	78.4	%	989	7.01	Kroger	Ace Hardware, Bealls Outlet, Goody's
146	Creekwood Village	Rex	GA	Atlanta-Sandy Springs-Roswell, GA	1990	69,778	85.9	%	501	8.36	Food Depot	—

Supplemental Disclosure - Three Months Ended December 31, 2015 Page 41

PROPERTY LIST
Dollars in thousands except per square foot amounts
					Year		Percent
	Property Name	City	State	Metropolitan Statistical Area	Built	GLA	Leased		ABR	ABR / SF	Grocer (1)	Other Major Tenants	Non-Owned Major Tenants
147	Shops of Riverdale	Riverdale	GA	Atlanta-Sandy Springs-Roswell, GA	1995	16,808	82.2	%	274	19.84	Walmart Supercenter*	—
148	Holcomb Bridge Crossing	Roswell	GA	Atlanta-Sandy Springs-Roswell, GA	1988	105,420	94.0	%	976	9.85	—	PGA TOUR Superstore
149	Victory Square	Savannah	GA	Savannah, GA	2007	122,739	95.4	%	1,702	14.89	SuperTarget*	Citi Trends, Dollar Tree, Frank Theatres, Staples	The Home Depot
150	Stockbridge Village	Stockbridge	GA	Atlanta-Sandy Springs-Roswell, GA	2008	188,135	87.6	%	2,496	15.15	Kroger	—
151	Stone Mountain Festival	Stone Mountain	GA	Atlanta-Sandy Springs-Roswell, GA	2006	347,091	94.9	%	1,711	5.20	Walmart Supercenter	Hobby Lobby, NCG Cinemas
152	Wilmington Island	Wilmington Island	GA	Savannah, GA	2015	101,462	92.7	%	1,068	11.36	Kroger	—
153	Kimberly West Shopping Center	Davenport	IA	Davenport-Moline-Rock Island, IA-IL	1987	113,713	87.3	%	605	6.09	Hy-Vee	—
154	Haymarket Mall	Des Moines	IA	Des Moines-West Des Moines, IA	2002	243,680	98.0	%	1,420	6.07	—	Burlington Stores, Hobby Lobby
155	Haymarket Square	Des Moines	IA	Des Moines-West Des Moines, IA	2002	268,205	82.7	%	1,404	6.33	Price Chopper	Big Lots, Northern Tool + Equipment, Office Depot
156	Warren Plaza	Dubuque	IA	Dubuque, IA	1993	96,339	93.4	%	728	8.09	Hy-Vee	Target	Target
157	Annex of Arlington	Arlington Heights	IL	Chicago-Naperville-Elgin, IL-IN-WI	2015	192,904	100.0	%	2,902	15.04	Trader Joe's	Binny's Beverage Depot, Chuck E. Cheese's, hhgregg, Petco, Ulta
158	Ridge Plaza	Arlington Heights	IL	Chicago-Naperville-Elgin, IL-IN-WI	2000	151,643	90.5	%	1,960	14.29	—	Savers, XSport Fitness	Kohl's
159	Bartonville Square	Bartonville	IL	Peoria, IL	2001	61,678	100.0	%	355	6.09	Kroger	—
160	Festival Center	Bradley	IL	Kankakee, IL	2006	63,796	76.7	%	301	6.15	—	Big Lots, Dollar General
161	Southfield Plaza	Bridgeview	IL	Chicago-Naperville-Elgin, IL-IN-WI	2006	198,331	90.3	%	1,972	11.01	Shop 'n Save	Hobby Lobby, Walgreens
162	Commons of Chicago Ridge	Chicago Ridge	IL	Chicago-Naperville-Elgin, IL-IN-WI	1998	324,977	94.8	%	4,029	23.45	—	Marshalls, Office Depot, The Home Depot, XSport Fitness
163	Rivercrest Shopping Center	Crestwood	IL	Chicago-Naperville-Elgin, IL-IN-WI	2015	547,531	94.2	%	5,675	14.04	Ultra Foods	AMC, Best Buy, Five Below, Party City, PetSmart, Ross Dress for Less, T.J.Maxx
164	The Commons of Crystal Lake	Crystal Lake	IL	Chicago-Naperville-Elgin, IL-IN-WI	2015	273,060	86.3	%	2,345	9.95	Jewel-Osco (Albertsons)	Burlington Stores	Hobby Lobby
165	Elk Grove Town Center	Elk Grove Village	IL	Chicago-Naperville-Elgin, IL-IN-WI	1998	131,794	99.5	%	2,178	16.61	Joe Caputo & Sons Fruit Market	Walgreens
166	Crossroads Centre	Fairview Heights	IL	St. Louis, MO-IL	1975	242,198	90.3	%	2,012	9.20	—	Big Lots, Hobby Lobby, T.J.Maxx
167	Frankfort Crossing Shopping Center	Frankfort	IL	Chicago-Naperville-Elgin, IL-IN-WI	1992	114,534	99.0	%	1,468	12.95	Jewel-Osco (Albertsons)	Ace Hardware
168	Freeport Plaza	Freeport	IL	Freeport, IL	2000	87,846	100.0	%	580	6.60	Cub Foods (Supervalu)	Stone's Hallmark
169	Westview Center	Hanover Park	IL	Chicago-Naperville-Elgin, IL-IN-WI	2015	326,422	92.8	%	2,593	8.85	Tony's Finer Foods	Big Lots, LA Fitness, Sears Outlet	Value City
170	The Quentin Collection	Kildeer	IL	Chicago-Naperville-Elgin, IL-IN-WI	2006	171,530	100.0	%	2,892	16.86	The Fresh Market	Best Buy, DSW, PetSmart, Stein Mart
171	Butterfield Square	Libertyville	IL	Chicago-Naperville-Elgin, IL-IN-WI	2013	106,755	98.8	%	1,594	15.12	Sunset Foods	—
172	High Point Centre	Lombard	IL	Chicago-Naperville-Elgin, IL-IN-WI	1992	240,096	68.2	%	1,816	11.09	Ultra Foods	Jo-Ann Fabric & Craft Stores, Office Depot
173	Long Meadow Commons	Mundelein	IL	Chicago-Naperville-Elgin, IL-IN-WI	1997	118,470	87.1	%	1,541	15.82	Dominick's**	—
174	Westridge Court	Naperville	IL	Chicago-Naperville-Elgin, IL-IN-WI	2015	680,553	97.1	%	8,094	12.26	—	Art Van Furniture, Big Lots, buybuy BABY, Gordmans, hhgregg, Marshalls, Old Navy, Savers, Star Cinema Grill, Ulta
175	Sterling Bazaar	Peoria	IL	Peoria, IL	1992	87,359	95.2	%	786	10.02	Kroger	—
176	Rollins Crossing	Round Lake Beach	IL	Chicago-Naperville-Elgin, IL-IN-WI	1998	192,849	96.3	%	1,987	17.58	—	LA Fitness, Regal Cinemas
177	Twin Oaks Shopping Center	Silvis	IL	Davenport-Moline-Rock Island, IA-IL	1991	114,342	96.4	%	717	6.51	Hy-Vee	Eye Surgeons Associates
178	Parkway Pointe	Springfield	IL	Springfield, IL	1994	38,737	85.9	%	585	17.57	ALDI*	dressbarn, Family Christian Stores, Shoe Carnival	Target, Walmart
179	Sangamon Center North	Springfield	IL	Springfield, IL	1996	139,907	94.9	%	1,265	9.54	Schnucks	U.S. Post Office
180	Tinley Park Plaza	Tinley Park	IL	Chicago-Naperville-Elgin, IL-IN-WI	2015	244,060	79.5	%	2,352	12.12	Walt's Fine Foods	Planet Fitness, Tile Shop
181	Meridian Village	Carmel	IN	Indianapolis-Carmel-Anderson, IN	1990	130,769	86.1	%	930	8.26	—	Dollar Tree, Godby Home Furnishings, Ollie's Bargain Outlet
182	Columbus Center	Columbus	IN	Columbus, IN	2005	143,050	98.9	%	1,514	10.70	—	Big Lots, MC Sports, OfficeMax, T.J.Maxx	Target
183	Elkhart Plaza West	Elkhart	IN	Elkhart-Goshen, IN	1997	81,651	91.2	%	587	7.88	Martin's Super Market	CVS
184	Apple Glen Crossing	Fort Wayne	IN	Fort Wayne, IN	2002	150,164	96.5	%	1,940	16.83	Walmart Supercenter*	Best Buy, Dick's Sporting Goods, PetSmart	Kohl's
185	Market Centre	Goshen	IN	Elkhart-Goshen, IN	1994	363,883	98.4	%	2,351	9.45	Sam's Club	Walmart
186	Marwood Plaza	Indianapolis	IN	Indianapolis-Carmel-Anderson, IN	1992	107,080	76.1	%	697	8.56	Kroger	—
187	Westlane Shopping Center	Indianapolis	IN	Indianapolis-Carmel-Anderson, IN	2015	71,602	100.0	%	657	9.18	Save-A-Lot	Citi Trends
188	Valley View Plaza	Marion	IN	Marion, IN	1997	29,974	83.0	%	338	13.59	Walmart Supercenter*	Aaron's
189	Bittersweet Plaza	Mishawaka	IN	South Bend-Mishawaka, IN-MI	2000	91,798	90.4	%	736	8.87	Martin's Super Market	—
190	Lincoln Plaza	New Haven	IN	Fort Wayne, IN	1968	103,938	60.7	%	528	8.36	Kroger	—
191	Speedway Super Center	Speedway	IN	Indianapolis-Carmel-Anderson, IN	2015	571,967	81.3	%	4,081	8.83	Kroger	Kohl's, Oak Street Health Center, Petco, Sears Outlet, T.J.Maxx
192	Sagamore Park Centre	West Lafayette	IN	Lafayette-West Lafayette, IN	2003	117,550	89.3	%	1,069	10.18	Pay Less (Kroger)	—
193	Westchester Square	Lenexa	KS	Kansas City, MO-KS	1987	155,518	87.4	%	1,161	8.54	Hy-Vee	—
194	West Loop Shopping Center	Manhattan	KS	Manhattan, KS	2013	212,261	94.8	%	1,729	13.93	Dillons (Kroger)	Bellus Academy, Jo-Ann Fabric & Craft Stores, Marshalls
195	Green River Plaza	Campbellsville	KY	Campbellsville, KY	1989	203,239	99.0	%	1,391	6.91	Kroger	Burke's Outlet, Goody’s, JC Penney, Jo-Ann Fabric & Craft Stores, Tractor Supply Co.
196	Kmart Plaza	Elizabethtown	KY	Elizabethtown-Fort Knox, KY	1992	130,466	100.0	%	880	6.75	—	Kmart, Staples
197	Florence Plaza - Florence Square	Florence	KY	Cincinnati, OH-KY-IN	2015	686,488	97.4	%	6,840	12.88	Kroger	Barnes & Noble, Burlington Stores, Hobby Lobby, Old Navy, Ollie's Bargain Outlet, Staples, T.J.Maxx

Supplemental Disclosure - Three Months Ended December 31, 2015 Page 42

PROPERTY LIST
Dollars in thousands except per square foot amounts
					Year		Percent
	Property Name	City	State	Metropolitan Statistical Area	Built	GLA	Leased		ABR	ABR / SF	Grocer (1)	Other Major Tenants	Non-Owned Major Tenants
198	Highland Commons	Glasgow	KY	Glasgow, KY	1992	130,466	100.0	%	776	5.95	Food Lion	Kmart
199	Jeffersontown Commons	Jeffersontown	KY	Louisville/Jefferson County, KY-IN	2005	208,374	85.4	%	1,588	9.46	—	King Pin Lanes, Louisville Athletic Club
200	Mist Lake Plaza	Lexington	KY	Lexington-Fayette, KY	1993	217,292	96.5	%	1,508	7.19	—	Gabriel Brothers, Walmart
201	London Marketplace	London	KY	London, KY	1994	169,032	100.0	%	1,122	6.64	Kroger	Goody's, Kmart
202	Eastgate Shopping Center	Louisville	KY	Louisville/Jefferson County, KY-IN	2002	174,947	100.0	%	1,827	10.44	Kroger	—
203	Plainview Village	Louisville	KY	Louisville/Jefferson County, KY-IN	1997	165,467	85.6	%	1,395	10.46	Kroger	—
204	Stony Brook I & II	Louisville	KY	Louisville/Jefferson County, KY-IN	1988	136,916	92.8	%	1,709	13.45	Kroger	—
205	Towne Square North	Owensboro	KY	Owensboro, KY	1988	163,161	100.0	%	1,246	7.64	—	Books-A-Million, Hobby Lobby, Office Depot
206	Lexington Road Plaza	Versailles	KY	Lexington-Fayette, KY	2007	197,668	98.6	%	1,432	7.35	Kroger	Kmart
207	Karam Shopping Center	Lafayette	LA	Lafayette, LA	2015	100,238	83.8	%	277	3.30	Super 1 Foods	dd's Discounts (Ross)
208	Iberia Plaza	New Iberia	LA	Lafayette, LA	1992	131,731	99.0	%	788	6.04	Super 1 Foods	—
209	Lagniappe Village	New Iberia	LA	Lafayette, LA	2010	201,360	98.5	%	1,555	7.84	—	Big Lots, Citi Trends, Stage, T.J.Maxx
210	The Pines Shopping Center	Pineville	LA	Alexandria, LA	1991	179,039	97.8	%	1,082	6.18	Super 1 Foods	Kmart
211	Points West Plaza	Brockton	MA	Boston-Cambridge-Newton, MA-NH	2015	133,432	98.5	%	1,072	8.15	PriceRite (ShopRite)	Citi Trends, L&M Bargain, Ocean State Job Lot
212	Burlington Square I, II & III	Burlington	MA	Boston-Cambridge-Newton, MA-NH	1992	86,290	93.9	%	1,909	23.57	—	Golf Galaxy, Pyara Aveda Spa & Salon, Staples
213	Chicopee Marketplace	Chicopee	MA	Springfield, MA	2005	150,959	100.0	%	2,589	17.76	Walmart Supercenter*	Marshalls, Party City, Staples
214	Holyoke Shopping Center	Holyoke	MA	Springfield, MA	2000	195,795	98.5	%	1,596	11.88	Super Stop & Shop (Ahold)	Jo-Ann Fabric & Craft Stores, Ocean State Job Lot
215	WaterTower Plaza	Leominster	MA	Worcester, MA-CT	2000	282,591	89.7	%	3,648	14.39	Shaw's (Albertsons)	Barnes & Noble, Michaels, Petco, Staples, T.J.Maxx
216	Lunenberg Crossing	Lunenburg	MA	Worcester, MA-CT	1994	25,515	29.4	%	176	23.47	Hannaford Bros. (Delhaize)*	—	Walmart
217	Lynn Marketplace	Lynn	MA	Boston-Cambridge-Newton, MA-NH	1968	78,092	100.0	%	1,135	14.53	Shaw's (Albertsons)	Rainbow
218	Webster Square Shopping Center	Marshfield	MA	Boston-Cambridge-Newton, MA-NH	2005	182,734	98.7	%	2,220	12.31	Star Market	Marshalls
219	Berkshire Crossing	Pittsfield	MA	Pittsfield, MA	1994	442,354	100.0	%	3,913	20.11	Market 32	Barnes & Noble, Michaels, Staples, The Home Depot, Ulta, Walmart
220	Westgate Plaza	Westfield	MA	Springfield, MA	1996	103,903	98.7	%	1,182	11.87	—	Ocean State Job Lot, Staples, T.J.Maxx
221	Perkins Farm Marketplace	Worcester	MA	Worcester, MA-CT	2015	204,038	74.7	%	1,858	21.80	Super Stop & Shop (Ahold)	Citi Trends, Fallas
222	South Plaza Shopping Center	California	MD	California-Lexington Park, MD	2005	92,335	100.0	%	1,688	18.28	—	Best Buy, Old Navy, Petco, Ross Dress for Less
223	Campus Village Shoppes	College Park	MD	Washington-Arlington-Alexandria, DC-VA-MD-WV	1986	25,529	100.0	%	710	27.81	—	—
224	Fox Run	Prince Frederick	MD	Washington-Arlington-Alexandria, DC-VA-MD-WV	1997	292,849	100.0	%	3,063	10.46	Giant Food (Ahold)	Jo-Ann Fabric & Craft Stores, Kmart, Peebles
225	Liberty Plaza	Randallstown	MD	Baltimore-Columbia-Towson, MD	2012	218,862	100.0	%	2,660	12.15	Walmart Supercenter	Marshalls
226	Rising Sun Towne Centre	Rising Sun	MD	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	2013	146,852	100.0	%	1,794	12.51	Martin's Food (Ahold)	—
227	Pine Tree Shopping Center	Portland	ME	Portland-South Portland, ME	1958	287,513	91.8	%	1,917	20.08	—	Big Lots, Dollar Tree, Jo-Ann Fabric & Craft Stores, Lowe's
228	Maple Village	Ann Arbor	MI	Ann Arbor, MI	2000	293,525	100.0	%	2,701	9.20	Plum Market	Dunham's Sports
229	Grand Crossing	Brighton	MI	Detroit-Warren-Dearborn, MI	2005	85,389	100.0	%	894	10.47	VG's Food (SpartanNash)	ACE Hardware
230	Farmington Crossroads	Farmington	MI	Detroit-Warren-Dearborn, MI	2013	87,391	93.6	%	789	9.65	—	Dollar Tree, Ollie's Bargain Outlet, True Value
231	Silver Pointe Shopping Center	Fenton	MI	Flint, MI	1996	160,943	83.8	%	1,709	12.67	VG's Food (SpartanNash)	Dunham's Sports, Glik's
232	Cascade East	Grand Rapids	MI	Grand Rapids-Wyoming, MI	1983	99,529	84.4	%	670	7.98	D&W Fresh Market (SpartanNash)	—
233	Delta Center	Lansing	MI	Lansing-East Lansing, MI	2015	186,246	96.1	%	1,493	8.34	—	Bed Bath & Beyond, DXL Destination XL, Hobby Lobby, Planet Fitness
234	Lakes Crossing	Muskegon	MI	Muskegon, MI	2011	110,997	81.9	%	1,266	15.29	—	Jo-Ann Fabric & Craft Stores, Party City, Shoe Carnival, Ulta	Kohl's
235	Redford Plaza	Redford	MI	Detroit-Warren-Dearborn, MI	1992	276,175	95.3	%	2,382	9.05	Kroger	Ace Hardware, Burlington Stores, CW Price, Dollar Tree
236	Hampton Village Centre	Rochester Hills	MI	Detroit-Warren-Dearborn, MI	2004	454,377	96.3	%	5,966	18.05	—	Best Buy, DSW, Emagine Theatre, Kohl's, Old Navy, T.J.Maxx, Ulta	Target
237	Fashion Corners	Saginaw	MI	Saginaw, MI	2004	184,735	100.0	%	1,784	9.66	—	Bed Bath & Beyond, Best Buy, Dunham's Sports, Guitar Center, Harbor Freight Tools
238	Green Acres	Saginaw	MI	Saginaw, MI	2011	281,646	66.4	%	1,327	13.22	Kroger	Planet Fitness, Rite Aid
239	Hall Road Crossing	Shelby Township	MI	Detroit-Warren-Dearborn, MI	1999	175,503	100.0	%	2,398	13.66	—	Gander Mountain, Michaels, Old Navy, T.J.Maxx, Ulta
240	Southfield Plaza	Southfield	MI	Detroit-Warren-Dearborn, MI	2015	101,724	100.0	%	1,118	10.99	—	Party City, Planet Fitness	Burlington Stores
241	18 Ryan	Sterling Heights	MI	Detroit-Warren-Dearborn, MI	1997	101,709	98.8	%	1,421	14.14	VG's Food (SpartanNash)	O'Reilly Auto Parts, Planet Fitness
242	Delco Plaza	Sterling Heights	MI	Detroit-Warren-Dearborn, MI	1996	154,853	100.0	%	950	6.14	—	Babies"R"Us, Bed Bath & Beyond, Dunham's Mega Sports
243	Grand Traverse Crossing	Traverse City	MI	Traverse City, MI	1996	412,755	97.6	%	2,706	27.35	Walmart Supercenter	Books-A-Million, PetSmart, Staples, The Home Depot, Toys"R"Us, Ulta
244	West Ridge	Westland	MI	Detroit-Warren-Dearborn, MI	2015	162,817	62.6	%	889	8.73	—	Bed Bath & Beyond, Party City, Petco	Burlington Stores, Target
245	Roundtree Place	Ypsilanti	MI	Ann Arbor, MI	1992	246,620	97.1	%	1,133	13.03	Walmart Supercenter	Harbor Freight Tools, Ollie's Bargain Outlet
246	Washtenaw Fountain Plaza	Ypsilanti	MI	Ann Arbor, MI	2005	123,390	95.5	%	826	7.01	Save-A-Lot	Dollar Tree, Dunham's Sports, Planet Fitness
247	Southport Centre I - VI	Apple Valley	MN	Minneapolis-St. Paul-Bloomington, MN-WI	1985	124,937	99.0	%	2,046	16.54	SuperTarget*	Best Buy, Dollar Tree, Walgreens
248	Austin Town Center	Austin	MN	Austin, MN	1999	108,486	73.7	%	461	7.10	ALDI	Jo-Ann Fabric & Craft Stores	Target

Supplemental Disclosure - Three Months Ended December 31, 2015 Page 43

PROPERTY LIST
Dollars in thousands except per square foot amounts
					Year		Percent
	Property Name	City	State	Metropolitan Statistical Area	Built	GLA	Leased		ABR	ABR / SF	Grocer (1)	Other Major Tenants	Non-Owned Major Tenants
249	Burning Tree Plaza	Duluth	MN	Duluth, MN-WI	1987	182,969	99.3	%	2,031	11.17	—	Best Buy, Dunham's Sports, T.J.Maxx
250	Elk Park Center	Elk River	MN	Minneapolis-St. Paul-Bloomington, MN-WI	1999	204,992	91.0	%	1,932	10.35	Cub Foods (Jerry's Foods)	OfficeMax
251	Westwind Plaza	Minnetonka	MN	Minneapolis-St. Paul-Bloomington, MN-WI	2007	87,942	96.1	%	1,378	16.31	Cub Foods (Supervalu)*	—
252	Richfield Hub	Richfield	MN	Minneapolis-St. Paul-Bloomington, MN-WI	2015	213,595	93.0	%	2,333	11.74	Rainbow Foods (Jerry's Foods)	FLEX Academy, Marshalls, Michaels
253	Roseville Center	Roseville	MN	Minneapolis-St. Paul-Bloomington, MN-WI	2000	69,537	74.8	%	747	14.47	Cub Foods (Supervalu)*	Dollar Tree, Hancock Fabrics
254	Marketplace @ 42	Savage	MN	Minneapolis-St. Paul-Bloomington, MN-WI	2015	117,873	91.0	%	1,510	14.07	Fresh Thyme Farmers Market	—
255	Sun Ray Shopping Center	St. Paul	MN	Minneapolis-St. Paul-Bloomington, MN-WI	2013	291,011	93.2	%	2,471	12.02	Cub Foods (Supervalu)	T.J.Maxx, Valu Thrift Store
256	White Bear Hills Shopping Center	White Bear Lake	MN	Minneapolis-St. Paul-Bloomington, MN-WI	1996	73,095	98.4	%	696	9.68	Festival Foods	Dollar Tree
257	Ellisville Square	Ellisville	MO	St. Louis, MO-IL	2015	137,006	76.1	%	1,430	13.71	—	Michaels, Party City, The Sports Authority
258	Clocktower Place	Florissant	MO	St. Louis, MO-IL	2015	207,317	89.3	%	1,413	7.77	ALDI	Florissant Furniture & Rug Gallery, K&G Fashion Superstore, Ross Dress for Less
259	Hub Shopping Center	Independence	MO	Kansas City, MO-KS	1995	160,423	95.5	%	838	5.83	Price Chopper	—
260	Watts Mill Plaza	Kansas City	MO	Kansas City, MO-KS	1997	161,717	97.8	%	1,453	9.19	Price Chopper	Ace Hardware
261	Liberty Corners	Liberty	MO	Kansas City, MO-KS	1987	124,808	86.9	%	905	8.35	Price Chopper	—
262	Maplewood Square	Maplewood	MO	St. Louis, MO-IL	1998	71,590	91.5	%	449	6.85	Shop 'n Save (Supervalu)	—
263	Clinton Crossing	Clinton	MS	Jackson, MS	1990	112,148	100.0	%	1,120	10.28	Kroger	—
264	County Line Plaza	Jackson	MS	Jackson, MS	2015	221,127	90.7	%	2,223	11.08	—	Burke's Outlet, Burlington Stores, Conn's, Kirkland's, Tuesday Morning
265	Jacksonian Plaza	Jackson	MS	Jackson, MS	1990	73,041	100.0	%	549	7.68	Kroger*	Books-A-Million, Goodwill Select, Office Depot
266	Devonshire Place	Cary	NC	Raleigh, NC	2012	106,680	100.0	%	1,425	13.65	—	Dollar Tree, Golf Galaxy, REI
267	McMullen Creek Market	Charlotte	NC	Charlotte-Concord-Gastonia, NC-SC	2015	272,243	90.1	%	3,064	12.49	Walmart Neighborhood Market	Burlington Stores, Dollar Tree, Rugged Wearhouse, Staples
268	The Commons at Chancellor Park	Charlotte	NC	Charlotte-Concord-Gastonia, NC-SC	2015	348,604	82.6	%	1,610	8.83	—	Big Lots, Gabe's, The Home Depot, Value City Furniture
269	Macon Plaza	Franklin	NC	—	2001	92,787	84.4	%	427	5.45	BI-LO (Southeastern Grocers)	Peebles
270	Garner Towne Square	Garner	NC	Raleigh, NC	1997	184,347	90.7	%	2,041	12.21	Kroger	OfficeMax, PetSmart	Target, The Home Depot
271	Franklin Square	Gastonia	NC	Charlotte-Concord-Gastonia, NC-SC	2015	317,705	90.8	%	3,261	12.64	Walmart Supercenter*	Bed Bath & Beyond, Best Buy, Dollar Tree, Michaels, Ross Dress for Less
272	Wendover Place	Greensboro	NC	Greensboro-High Point, NC	2000	406,768	100.0	%	4,901	14.09	—	Babies"R"Us, Christmas Tree Shops, Dick's Sporting Goods, Kohl's, Old Navy, PetSmart	Ross Dress for Less, Target
273	University Commons	Greenville	NC	Greenville, NC	2014	233,153	96.8	%	2,947	13.06	Harris Teeter (Kroger)	A.C. Moore, Barnes & Noble, Petco, T.J.Maxx	Target
274	Valley Crossing	Hickory	NC	Hickory-Lenoir-Morganton, NC	2014	191,431	100.0	%	1,720	8.99	—	Academy Sports + Outdoors, Dollar Tree, Fallas Paredes, Harbor Freight Tools, Ollie's Bargain Outlet
275	Kinston Pointe	Kinston	NC	Kinston, NC	2001	250,580	98.5	%	875	3.54	Walmart Supercenter	Dollar Tree
276	Magnolia Plaza	Morganton	NC	Hickory-Lenoir-Morganton, NC	1990	104,539	36.9	%	188	4.88	Ingles	—
277	Roxboro Square	Roxboro	NC	Durham-Chapel Hill, NC	2005	97,226	96.4	%	1,348	14.38	—	Person County Health & Human Services
278	Innes Street Market	Salisbury	NC	Charlotte-Concord-Gastonia, NC-SC	2002	349,425	99.1	%	3,803	10.99	Food Lion	Lowe's, Marshalls, Old Navy, PetSmart, Staples, Tinseltown
279	Salisbury Marketplace	Salisbury	NC	Charlotte-Concord-Gastonia, NC-SC	1987	79,732	72.7	%	624	10.76	Food Lion	Family Dollar
280	Crossroads	Statesville	NC	Charlotte-Concord-Gastonia, NC-SC	1997	340,189	98.3	%	2,049	6.12	Walmart Supercenter	Big Lots, Burkes Outlet, Tractor Supply
281	Anson Station	Wadesboro	NC	—	1988	132,353	67.6	%	564	6.31	Food Lion	Peebles, Tractor Supply Co.
282	New Centre Market	Wilmington	NC	Wilmington, NC	1998	143,762	76.6	%	1,586	14.91	—	OfficeMax, PetSmart	Target
283	University Commons	Wilmington	NC	Wilmington, NC	2007	235,345	97.9	%	3,344	14.52	Lowes Foods	A.C. Moore, HomeGoods, T.J.Maxx
284	Whitaker Square	Winston Salem	NC	Winston-Salem, NC	1996	82,760	98.3	%	1,093	13.43	Harris Teeter (Kroger)	Rugged Wearhouse
285	Parkway Plaza	Winston-Salem	NC	Winston-Salem, NC	2005	283,830	89.6	%	2,885	11.95	Super Compare Foods	Big Lots, Citi Trends, Office Depot
286	Stratford Commons	Winston-Salem	NC	Winston-Salem, NC	1995	72,308	94.8	%	959	13.99	—	Golf Galaxy, Mattress Firm, OfficeMax
287	Bedford Grove	Bedford	NH	Manchester-Nashua, NH	1989	216,941	96.8	%	1,983	21.83	Hannaford Bros. (Delhaize)	Walmart
288	Capitol Shopping Center	Concord	NH	Concord, NH	2001	182,887	100.0	%	2,012	11.26	DeMoulas Supermarkets	Burlington Stores, Jo-Ann Fabric & Craft Stores, Marshalls
289	Willow Springs Plaza	Nashua	NH	Manchester-Nashua, NH	2015	131,248	100.0	%	2,299	19.10	—	JC Penney, New Hampshire Liquor and Wine Outlet, Petco	The Home Depot
290	Seacoast Shopping Center	Seabrook	NH	Boston-Cambridge-Newton, MA-NH	1991	91,690	27.3	%	173	17.32	—	Jo-Ann Fabric & Craft Stores
291	Tri-City Plaza	Somersworth	NH	Boston-Cambridge-Newton, MA-NH	1990	147,564	99.8	%	1,384	9.40	DeMoulas Supermarkets	T.J.Maxx
292	Laurel Square	Brick	NJ	New York-Newark-Jersey City, NY-NJ-PA	2015	246,235	90.2	%	1,561	7.46	A&P**	Kmart, Planet Fitness
293	the Shoppes at Cinnaminson	Cinnaminson	NJ	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	2010	296,109	95.5	%	4,106	21.57	ShopRite	Burlington Stores, Ross Dress For Less
294	Acme Clark	Clark	NJ	New York-Newark-Jersey City, NY-NJ-PA	2007	52,812	100.0	%	1,357	25.70	Acme (Albertsons)	—
295	Collegetown Shopping Center	Glassboro	NJ	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	2015	250,408	97.5	%	2,193	8.98	—	Kmart, LA Fitness, Staples
296	Hamilton Plaza-Kmart Plaza	Hamilton	NJ	Trenton, NJ	2015	148,919	98.0	%	1,073	7.35	—	Hibachi Grill & Supreme Buffet, Kmart, Planet Fitness
297	Bennetts Mills Plaza	Jackson	NJ	New York-Newark-Jersey City, NY-NJ-PA	2002	127,230	87.8	%	1,463	32.82	Super Stop & Shop (Ahold)	—
298	Lakewood Plaza	Lakewood	NJ	New York-Newark-Jersey City, NY-NJ-PA	1966	202,210	100.0	%	3,023	15.04	Gourmet Glatt Express	Dollar Tree

Supplemental Disclosure - Three Months Ended December 31, 2015 Page 44

PROPERTY LIST
Dollars in thousands except per square foot amounts
					Year		Percent
	Property Name	City	State	Metropolitan Statistical Area	Built	GLA	Leased		ABR	ABR / SF	Grocer (1)	Other Major Tenants	Non-Owned Major Tenants
299	Marlton Crossing	Marlton	NJ	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	2013	332,664	96.5	%	5,176	16.13	—	Burlington Stores, DSW, HomeGoods, Michaels, T.J.Maxx
300	Middletown Plaza	Middletown	NJ	New York-Newark-Jersey City, NY-NJ-PA	2001	197,066	100.0	%	3,867	19.89	ShopRite	Petco, Rite Aid
301	Larchmont Centre	Mount Laurel	NJ	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	1985	103,787	92.3	%	1,218	12.72	ShopRite	—
302	Old Bridge Gateway	Old Bridge	NJ	New York-Newark-Jersey City, NY-NJ-PA	1995	242,991	91.3	%	3,883	17.51	Bhavani Food Market	Marshalls, Modell's Sporting Goods, Pep Boys, Petco, Robert Wood Johnson Fitness
303	Morris Hills Shopping Center	Parsippany	NJ	New York-Newark-Jersey City, NY-NJ-PA	1994	159,561	97.6	%	2,967	19.06	—	Blink Fitness (Equinox), Clearview Cinema Group, HomeGoods, Marshalls
304	Rio Grande Plaza	Rio Grande	NJ	Ocean City, NJ	1997	141,330	90.2	%	1,530	12.00	ShopRite*	JC Penney, Peebles, PetSmart
305	Ocean Heights Plaza	Somers Point	NJ	Atlantic City-Hammonton, NJ	2006	179,199	97.9	%	3,226	18.40	ShopRite	Pier 1 Imports, Staples
306	ShopRite Supermarket	Springfield	NJ	New York-Newark-Jersey City, NY-NJ-PA	1965	32,209	100.0	%	389	12.08	ShopRite	—
307	Tinton Falls Plaza	Tinton Falls	NJ	New York-Newark-Jersey City, NY-NJ-PA	2006	98,410	83.1	%	1,368	16.72	Acme (Albertsons)	Dollar Tree, WOW! Fitness
308	Cross Keys Commons	Turnersville	NJ	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	1996	216,623	90.0	%	3,203	16.43	Walmart Supercenter*	Marshalls, Party City, Ross Dress for Less, Staples
309	Dover Park Plaza	Yardville	NJ	Trenton, NJ	2005	56,751	84.9	%	760	15.78	—	CVS, Dollar Tree
310	St Francis Plaza	Santa Fe	NM	Santa Fe, NM	1993	35,800	100.0	%	461	12.88	Whole Foods Market	Walgreens
311	Smith's	Socorro	NM	—	1976	48,000	100.0	%	506	10.54	Smith's (Kroger)	—
312	Galleria Commons	Henderson	NV	Las Vegas-Henderson-Paradise, NV	2015	278,411	100.0	%	3,191	11.60	—	Babies"R"Us, Burlington Stores, Kirkland’s, Stein Mart, T.J.Maxx, Tuesday Morning
313	Montecito Marketplace	Las Vegas	NV	Las Vegas-Henderson-Paradise, NV	2006	190,434	100.0	%	3,799	19.95	Smith's (Kroger)	T.J.Maxx
314	Renaissance Center East	Las Vegas	NV	Las Vegas-Henderson-Paradise, NV	2012	144,216	75.8	%	1,284	11.74	—	Savers
315	Parkway Plaza	Carle Place	NY	New York-Newark-Jersey City, NY-NJ-PA	1993	89,704	100.0	%	2,514	28.03	—	Minado, Stew Leonard's Wines, T.J.Maxx
316	Erie Canal Centre	Dewitt	NY	Syracuse, NY	2015	115,500	65.4	%	981	13.00	—	Dick's Sporting Goods, OfficeMax
317	Unity Plaza	East Fishkill	NY	New York-Newark-Jersey City, NY-NJ-PA	2005	67,462	90.5	%	1,319	21.60	Acme (Albertsons)	—
318	Suffolk Plaza	East Setauket	NY	New York-Newark-Jersey City, NY-NJ-PA	1998	84,480	27.8	%	748	31.86	BJ's Wholesale*, Walmart Supercenter*	—	Kohl's
319	Three Village Shopping Center	East Setauket	NY	New York-Newark-Jersey City, NY-NJ-PA	1991	77,458	94.7	%	1,849	25.21	King Kullen**	Ace Hardware
320	Stewart Plaza	Garden City	NY	New York-Newark-Jersey City, NY-NJ-PA	1990	193,622	90.2	%	2,852	16.32	—	Burlington Stores, K&G Fashion Superstore
321	Genesee Valley Shopping Center	Geneseo	NY	Rochester, NY	2007	191,314	90.9	%	1,654	9.81	Wegmans	Peebles, Tractor Supply Co.
322	McKinley Plaza	Hamburg	NY	Buffalo-Cheektowaga-Niagara Falls, NY	1991	95,544	97.1	%	1,354	14.98	Wegmans*	A.C. Moore, T.J.Maxx
323	Dalewood I, II & III Shopping Center	Hartsdale	NY	New York-Newark-Jersey City, NY-NJ-PA	2012	191,441	98.1	%	6,135	33.39	H-Mart, Best Market	Christmas Tree Shops, Rite Aid, T.J.Maxx
324	Hornell Plaza	Hornell	NY	Corning, NY	2005	253,335	100.0	%	2,086	8.23	Wegmans	Walmart
325	Cayuga Mall	Ithaca	NY	Ithaca, NY	2013	204,830	100.0	%	1,811	8.84	—	Jo-Ann Fabric & Craft Stores, Party City, Rite Aid, True Value
326	Kings Park Plaza	Kings Park	NY	New York-Newark-Jersey City, NY-NJ-PA	1985	71,942	100.0	%	1,742	24.21	Key Food Marketplace	T.J.Maxx
327	Village Square Shopping Center	Larchmont	NY	New York-Newark-Jersey City, NY-NJ-PA	1981	17,000	100.0	%	586	34.47	Trader Joe's	—
328	Falcaro's Plaza	Lawrence	NY	New York-Newark-Jersey City, NY-NJ-PA	1972	61,118	98.1	%	1,276	21.29	—	Advance Auto Parts
329	Shops at Seneca Mall	Liverpool	NY	Syracuse, NY	2005	230,924	66.7	%	695	4.51	—	Big Lots, Kmart	Raymour & Flanigan
330	Mamaroneck Centre	Mamaroneck	NY	New York-Newark-Jersey City, NY-NJ-PA	1976	24,978	—	%	—	—	—	—
331	Sunshine Square	Medford	NY	New York-Newark-Jersey City, NY-NJ-PA	2007	223,322	88.4	%	2,737	20.70	Super Stop & Shop (Ahold)	Planet Fitness
332	Wallkill Plaza	Middletown	NY	New York-Newark-Jersey City, NY-NJ-PA	2012	209,960	86.7	%	1,864	10.59	—	Ashley Furniture, Big Lots, Hobby Lobby
333	Monroe ShopRite Plaza	Monroe	NY	New York-Newark-Jersey City, NY-NJ-PA	1985	122,007	100.0	%	1,879	15.40	ShopRite	Retro Fitness, Rite Aid, U.S. Post Office
334	Rockland Plaza	Nanuet	NY	New York-Newark-Jersey City, NY-NJ-PA	2006	251,537	96.3	%	6,397	26.42	A Matter of Health	Barnes & Noble, Lemon Pop, Marshalls, Modell's Sporting Goods, Petco
335	North Ridge Shopping Center	New Rochelle	NY	New York-Newark-Jersey City, NY-NJ-PA	1971	31,870	100.0	%	1,189	37.31	—	Harmon Discount
336	Nesconset Shopping Center	Port Jefferson Station	NY	New York-Newark-Jersey City, NY-NJ-PA	2012	122,996	95.1	%	2,389	20.43	—	Dollar Tree, HomeGoods
337	Port Washington	Port Washington	NY	New York-Newark-Jersey City, NY-NJ-PA	1968	19,600	100.0	%	112	5.71	North Shore Farms	—
338	Roanoke Plaza	Riverhead	NY	New York-Newark-Jersey City, NY-NJ-PA	2002	99,131	100.0	%	1,774	17.90	Best Yet Market	CVS, T.J.Maxx
339	Rockville Centre	Rockville Centre	NY	New York-Newark-Jersey City, NY-NJ-PA	1975	44,131	94.3	%	1,087	26.11	—	HomeGoods, Rite Aid
340	Mohawk Acres Plaza	Rome	NY	Utica-Rome, NY	2005	156,680	88.7	%	1,421	20.61	Price Chopper	—
341	College Plaza	Selden	NY	New York-Newark-Jersey City, NY-NJ-PA	2015	180,182	97.8	%	2,891	16.84	ShopRite	A.C. Moore, Blink Fitness (Equinox), Bob's Stores
342	Campus Plaza	Vestal	NY	Binghamton, NY	2003	160,744	96.8	%	1,703	10.94	—	Olum's Furniture & Appliances, Rite Aid, Staples
343	Parkway Plaza	Vestal	NY	Binghamton, NY	2012	204,954	100.0	%	2,125	10.37	PriceRite (ShopRite)	Bed Bath & Beyond, Kohl's, PetSmart	Target
344	Shoppes at Vestal	Vestal	NY	Binghamton, NY	2000	92,328	100.0	%	1,398	15.14	—	HomeGoods, Michaels, Old Navy
345	Town Square Mall	Vestal	NY	Binghamton, NY	2012	293,181	99.4	%	4,652	15.97	Sam's Club*, Walmart Supercenter*	A.C. Moore, Barnes & Noble, Dick's Sporting Goods, DSW, Lowes Cinemas, T.J.Maxx, Ulta
346	The Plaza at Salmon Run	Watertown	NY	Watertown-Fort Drum, NY	1993	68,761	100.0	%	690	10.04	Hannaford Bros. (Delhaize)	Lowes, Pier 1 Imports
347	Highridge Plaza	Yonkers	NY	New York-Newark-Jersey City, NY-NJ-PA	2015	88,501	94.0	%	2,216	26.64	H-Mart	—
348	Brunswick Town Center	Brunswick	OH	Cleveland-Elyria, OH	2004	138,407	96.3	%	1,862	44.44	Giant Eagle	—	The Home Depot

Supplemental Disclosure - Three Months Ended December 31, 2015 Page 45

PROPERTY LIST
Dollars in thousands except per square foot amounts
					Year		Percent
	Property Name	City	State	Metropolitan Statistical Area	Built	GLA	Leased		ABR	ABR / SF	Grocer (1)	Other Major Tenants	Non-Owned Major Tenants
349	30th Street Plaza	Canton	OH	Canton-Massillon, OH	1999	157,055	83.5	%	1,438	10.97	Giant Eagle, Marc's	—
350	Brentwood Plaza	Cincinnati	OH	Cincinnati, OH-KY-IN	2004	225,774	84.7	%	2,090	18.27	Kroger	Petco, Planet Fitness
351	Delhi Shopping Center	Cincinnati	OH	Cincinnati, OH-KY-IN	2012	164,750	96.1	%	1,358	8.58	Kroger	Pet Supplies Plus
352	Harpers Station	Cincinnati	OH	Cincinnati, OH-KY-IN	2015	248,571	99.5	%	3,448	13.94	Fresh Thyme Farmers Market	HomeGoods, LA Fitness, Pet Supplies Plus, Stein Mart, T.J.Maxx
353	Western Hills Plaza	Cincinnati	OH	Cincinnati, OH-KY-IN	2011	314,754	99.1	%	3,797	12.51	—	Bed Bath & Beyond, Michaels, Sears, Staples, T.J.Maxx	Target
354	Western Village	Cincinnati	OH	Cincinnati, OH-KY-IN	2005	115,116	100.0	%	1,132	29.42	Kroger	—
355	Crown Point	Columbus	OH	Columbus, OH	2015	144,931	95.9	%	1,360	10.00	Kroger	Dollar Tree, Planet Fitness
356	Greentree Shopping Center	Columbus	OH	Columbus, OH	2005	130,773	84.8	%	1,114	10.83	Kroger	—
357	Brandt Pike Place	Dayton	OH	Dayton, OH	2008	17,900	100.0	%	167	9.33	Kroger*	—
358	South Towne Centre	Dayton	OH	Dayton, OH	2013	331,838	98.6	%	4,165	13.65	Health Foods Unlimited	Burlington Stores, Christmas Tree Shops, Jo-Ann Fabric & Craft Stores, Party City, Petsmart, Value City Furniture
359	The Vineyards	Eastlake	OH	Cleveland-Elyria, OH	1989	144,820	90.2	%	738	5.65	Valu King**	Dollar Tree, Harbor Freight Tools	Walmart
360	Midway Market Square	Elyria	OH	Cleveland-Elyria, OH	2014	224,329	88.8	%	2,024	10.16	Giant Eagle	Dick's Sporting Goods, Jo-Ann Fabric & Craft Stores	Target, The Home Depot
361	Southland Shopping Center	Middleburg Heights	OH	Cleveland-Elyria, OH	2013	695,719	96.2	%	6,666	9.98	BJ's Wholesale Club, Giant Eagle, Marc's	Burlington Stores, Cleveland Furniture Bank, Jo-Ann Fabric & Craft Stores, Marshalls, Party City, Petco
362	Tops Plaza	North Olmsted	OH	Cleveland-Elyria, OH	2002	70,003	98.2	%	1,036	15.07	—	Ollie's Bargain Outlet, Sears Outlet
363	Tops Plaza	North Ridgeville	OH	Cleveland-Elyria, OH	2002	57,857	100.0	%	843	14.57	—	Pat Catan's Craft Centers
364	Surrey Square Mall	Norwood	OH	Cincinnati, OH-KY-IN	2010	173,242	95.5	%	2,059	25.37	Kroger	Marshalls
365	Market Place	Piqua	OH	Dayton, OH	2012	182,824	93.0	%	683	7.12	Kroger	Roses
366	Brice Park	Reynoldsburg	OH	Columbus, OH	1989	158,565	82.6	%	1,144	9.58	—	Ashley Furniture, Citi Trends, Michaels
367	Streetsboro Crossing	Streetsboro	OH	Akron, OH	2002	89,436	100.0	%	697	7.79	Giant Eagle	—	Lowe's
368	Miracle Mile Shopping Plaza	Toledo	OH	Toledo, OH	1955	318,174	66.3	%	1,328	12.67	Kroger	Big Lots, Harbor Freight Tools
369	Southland Shopping Plaza	Toledo	OH	Toledo, OH	1988	290,892	84.1	%	1,500	6.13	Kroger	Big Lots, Planet Fitness, Shopper's World
370	Wadsworth Crossings	Wadsworth	OH	Cleveland-Elyria, OH	2005	115,066	94.0	%	1,790	16.55	—	Bed Bath & Beyond, MC Sports, OfficeMax, Petco	Kohl's, Lowe's, Target
371	Northgate Plaza	Westerville	OH	Columbus, OH	2008	15,219	100.0	%	246	16.16	Kroger*	—	The Home Depot
372	Marketplace	Tulsa	OK	Tulsa, OK	1992	186,851	100.0	%	1,765	9.45	—	Conn's, Drysdales, PetSmart	Best Buy, JC Penney Home Store
373	Village West	Allentown	PA	Allentown-Bethlehem-Easton, PA-NJ	1999	140,474	97.8	%	2,499	34.60	Giant Food (Ahold)	CVS
374	Park Hills Plaza	Altoona	PA	Altoona, PA	1985	278,586	96.4	%	2,276	8.47	Weis Markets	A.C. Moore, Dunham's Sports, Petco, Shoe Carnival, Toys"R"Us
375	Bensalem Square	Bensalem	PA	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	1986	70,378	100.0	%	775	11.01	Redner's Warehouse Market	—
376	Bethel Park Shopping Center	Bethel Park	PA	Pittsburgh, PA	2015	199,079	100.0	%	1,910	10.64	Giant Eagle	Walmart
377	Bethlehem Square	Bethlehem	PA	Allentown-Bethlehem-Easton, PA-NJ	1994	389,450	100.0	%	3,847	14.88	Giant Food (Ahold)	T.J.Maxx, The Home Depot, Walmart
378	Lehigh Shopping Center	Bethlehem	PA	Allentown-Bethlehem-Easton, PA-NJ	2013	378,358	97.3	%	3,377	11.50	Giant Food (Ahold)	Big Lots, Mega Marshalls, PetSmart, Rite Aid, Staples, Wells Fargo
379	Bristol Park	Bristol	PA	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	2013	283,153	98.0	%	2,412	8.69	Walmart Supercenter	—
380	Chalfont Village Shopping Center	Chalfont	PA	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	1989	46,051	82.4	%	454	11.97	Bottom Dollar**	—
381	New Britain Village Square	Chalfont	PA	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	1989	143,716	95.4	%	2,373	17.30	Giant Food (Ahold)	Tuesday Morning
382	Collegeville Shopping Center	Collegeville	PA	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	2004	110,696	51.1	%	839	14.82	—	Pep Boys, Rascal Fitness
383	Whitemarsh Shopping Center	Conshohocken	PA	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	2002	67,476	100.0	%	1,410	20.90	Giant Food (Ahold)	Wine & Spirits Shoppe
384	Valley Fair	Devon	PA	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	2001	105,086	100.0	%	1,080	10.28	—	Chuck E. Cheese's, Mealey's Furniture
385	Dickson City Crossings	Dickson City	PA	Scranton--Wilkes-Barre--Hazleton, PA	1997	302,929	100.0	%	3,190	16.02	—	Dick's Sporting Goods, hhgregg, Party City, PetSmart, T.J.Maxx, The Home Depot
386	Dillsburg Shopping Center	Dillsburg	PA	York-Hanover, PA	2014	153,088	100.0	%	1,977	13.16	Giant Food (Ahold)	Rite Aid, Tractor Supply Co.
387	Barn Plaza	Doylestown	PA	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	2002	237,681	100.0	%	3,350	14.10	—	Kohl's, Marshalls, Regal Cinemas
388	Pilgrim Gardens	Drexel Hill	PA	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	2014	75,223	97.1	%	1,170	16.02	—	Dollar Tree, Ross Dress for Less
389	Gilbertsville Shopping Center	Gilbertsville	PA	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	2002	85,576	96.4	%	779	9.44	Weis Markets	—
390	Mount Carmel Plaza	Glenside	PA	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	1975	14,504	94.1	%	183	13.40	—	SGS Paper
391	Kline Plaza	Harrisburg	PA	Harrisburg-Carlisle, PA	1952	214,628	89.0	%	1,779	9.32	Giant Food (Ahold)	Citi Trends, The Dept. of Health
392	New Garden Center	Kennett Square	PA	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	2012	144,920	96.2	%	1,001	7.34	—	Big Lots, Ollie's Bargain Outlet
393	Stone Mill Plaza	Lancaster	PA	Lancaster, PA	2008	106,736	99.3	%	1,288	12.15	Giant Food (Ahold)	—
394	Woodbourne Square	Langhorne	PA	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	1984	29,821	100.0	%	628	21.06	—	—
395	North Penn Market Place	Lansdale	PA	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	1977	58,358	80.2	%	904	20.91	Weis Markets*	—
396	New Holland Shopping Center	New Holland	PA	Lancaster, PA	1995	65,878	95.2	%	507	8.09	Grocery Outlet	Family Dollar
397	Village at Newtown	Newtown	PA	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	1989	177,185	86.0	%	4,002	26.27	McCaffrey's (Ahold)	Pier 1 Imports
398	Cherry Square	Northampton	PA	Allentown-Bethlehem-Easton, PA-NJ	1989	75,005	94.9	%	713	10.02	Redner's Warehouse Market	—

Supplemental Disclosure - Three Months Ended December 31, 2015 Page 46

PROPERTY LIST
Dollars in thousands except per square foot amounts
					Year		Percent
	Property Name	City	State	Metropolitan Statistical Area	Built	GLA	Leased		ABR	ABR / SF	Grocer (1)	Other Major Tenants	Non-Owned Major Tenants
399	Ivyridge	Philadelphia	PA	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	2006	107,318	93.8	%	2,212	21.98	A&P**	Wine & Spirits
400	Roosevelt Mall	Philadelphia	PA	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	2011	561,890	98.0	%	7,860	33.74	—	Macy's, Modell's Sporting Goods, Ross Dress For Less
401	Shoppes at Valley Forge	Phoenixville	PA	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	2003	176,676	99.3	%	1,358	7.74	Redner's Warehouse Market	French Creek Outfitters, Staples
402	Plymouth Plaza	Plymouth Meeting	PA	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	1994	32,404	42.5	%	491	35.64	—	Premier Urgent Care, TD Bank
403	County Line Plaza	Souderton	PA	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	2013	154,758	91.6	%	1,456	10.70	ALDI	Planet Fitness, Rite Aid, VF Outlet
404	69th Street Plaza	Upper Darby	PA	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	1994	41,711	100.0	%	423	10.14	Fresh Grocer (Wakefern)*	EZ Bargains, Rent-A-Center, Super Dollar City
405	Warminster Towne Center	Warminster	PA	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	1997	237,152	100.0	%	3,402	15.56	ShopRite	A.C. Moore, Kohls, Modell's Sporting Goods, Old Navy, Party City, PetSmart, Ross Dress for Less
406	Shops at Prospect	West Hempfield	PA	Lancaster, PA	1994	63,392	100.0	%	739	11.66	Musser's Markets	Hallmark	Kmart
407	Whitehall Square	Whitehall	PA	Allentown-Bethlehem-Easton, PA-NJ	2006	315,192	98.7	%	3,419	11.00	Redner's Warehouse Market	Mealey's Furniture, PetSmart, Ross Dress for Less, Sports Authority, Staples
408	Wilkes-Barre Township Marketplace	Wilkes-Barre	PA	Scranton--Wilkes-Barre--Hazleton, PA	2004	307,610	97.9	%	2,184	31.00	Walmart Supercenter	Party City, Shoe Carnival
409	Hunt River Commons	North Kingstown	RI	Providence-Warwick, RI-MA	1989	148,126	99.2	%	1,556	10.59	Super Stop & Shop (Ahold)	Marshalls, Planet Fitness
410	Belfair Towne Village	Bluffton	SC	Hilton Head Island-Bluffton-Beaufort, SC	2006	162,548	93.0	%	2,096	13.87	Kroger	Stein Mart
411	Milestone Plaza	Greenville	SC	Greenville-Anderson-Mauldin, SC	1995	89,721	100.0	%	1,497	16.69	BI-LO (Southeastern Grocers)	—
412	Circle Center	Hilton Head	SC	Hilton Head Island-Bluffton-Beaufort, SC	2000	65,213	97.3	%	786	12.39	BI-LO (Southeastern Grocers)	—
413	Island Plaza	James Island	SC	Charleston-North Charleston, SC	2004	171,224	81.1	%	1,026	7.74	Food Lion	Dollar Tree, Gold's Gym
414	Festival Centre	North Charleston	SC	Charleston-North Charleston, SC	2015	325,347	77.5	%	2,083	8.38	—	Gold's Gym, Intercontinental Hotels Group, New Spring Church, Sears Outlet
415	Remount Village Shopping Center	North Charleston	SC	Charleston-North Charleston, SC	1996	60,238	82.0	%	462	9.35	BI-LO (Southeastern Grocers)	—
416	Fairview Corners I & II	Simpsonville	SC	Greenville-Anderson-Mauldin, SC	2003	131,002	98.2	%	1,867	14.52	—	Ross Dress for Less, T.J.Maxx	Target
417	Hillcrest Market Place	Spartanburg	SC	Spartanburg, SC	2012	357,051	85.9	%	3,278	11.27	Publix	Marshalls, NCG Cinemas, Office Depot, Petco, Ross Dress for Less, Stein Mart
418	Shoppes at Hickory Hollow	Antioch	TN	Nashville-Davidson--Murfreesboro--Franklin, TN	1986	144,469	84.9	%	1,375	11.21	Kroger	Citi Trends
419	Congress Crossing	Athens	TN	Athens, TN	2012	180,305	97.6	%	1,227	6.97	—	Dunham's Sports, Kmart
420	East Ridge Crossing	Chattanooga	TN	Chattanooga, TN-GA	1999	58,950	88.8	%	593	11.33	Food Lion	—
421	Watson Glen Shopping Center	Franklin	TN	Nashville-Davidson--Murfreesboro--Franklin, TN	2015	265,027	98.9	%	2,511	9.66	ALDI	At Home, Big Lots, Franklin Athletic Club, Trees n Trends
422	Williamson Square	Franklin	TN	Nashville-Davidson--Murfreesboro--Franklin, TN	2015	331,386	97.7	%	3,122	9.64	—	Grace Church Nashville, Hard Knocks, Hobby Lobby, Planet Fitness, Skyzone, USA Baby
423	Greensboro Village	Gallatin	TN	Nashville-Davidson--Murfreesboro--Franklin, TN	2005	70,203	97.7	%	980	14.28	Publix	—
424	Greeneville Commons	Greeneville	TN	Greeneville, TN	2002	228,618	95.5	%	1,588	12.28	—	Belk, Burkes Outlet, JC Penney, Kmart
425	Oakwood Commons	Hermitage	TN	Nashville-Davidson--Murfreesboro--Franklin, TN	2015	266,721	92.5	%	2,742	11.52	Publix	Bed Bath & Beyond, Dollar Tree, Goody’s, PetSmart, Ross Dress for Less
426	Kimball Crossing	Kimball	TN	Chattanooga, TN-GA	2007	280,476	96.2	%	1,793	7.34	Walmart Supercenter	Goody's	Lowe's
427	Kingston Overlook	Knoxville	TN	Knoxville, TN	2015	122,536	100.0	%	1,191	9.98	—	Babies"R"Us, Michaels, Sears Outlet
428	Farrar Place	Manchester	TN	Tullahoma-Manchester, TN	1989	43,220	79.9	%	307	8.89	Food Lion	—
429	The Commons at Wolfcreek	Memphis	TN	Memphis, TN-MS-AR	2015	654,313	93.3	%	7,941	13.25	—	Academy Sports + Outdoors, Best Buy, Big Lots, DSW, Five Below, hhgregg, Office Depot, PetSmart, Sports Authority, T.J.Maxx, Value City Furniture	Target, The Home Depot, Toys"R"Us
430	Georgetown Square	Murfreesboro	TN	Nashville-Davidson--Murfreesboro--Franklin, TN	2003	115,062	88.2	%	1,164	11.47	Kroger	Aaron's
431	Nashboro Village	Nashville	TN	Nashville-Davidson--Murfreesboro--Franklin, TN	1998	86,811	98.2	%	1,001	11.75	Kroger	—	Walgreens
432	Commerce Central	Tullahoma	TN	Tullahoma-Manchester, TN	1995	182,401	98.3	%	1,241	6.92	Walmart Supercenter	Dollar Tree
433	Merchant's Central	Winchester	TN	Tullahoma-Manchester, TN	1997	208,123	93.6	%	1,162	5.96	Walmart Supercenter	Goody's
434	Palm Plaza	Aransas	TX	Corpus Christi, TX	2002	50,700	79.2	%	256	7.97	—	Bealls (Stage Stores), Family Dollar
435	Bardin Place Center	Arlington	TX	Dallas-Fort Worth-Arlington, TX	2015	420,550	98.8	%	3,949	9.51	WinCo Foods	Hemispheres, Hobby Lobby, Ross Dress for Less
436	Parmer Crossing	Austin	TX	Austin-Round Rock, TX	2015	168,112	83.7	%	1,553	11.04	—	Big Lots, Dollar Tree, Harbor Freight Tools, Mega Furniture	Fry's Electronics
437	Baytown Shopping Center	Baytown	TX	Houston-The Woodlands-Sugar Land, TX	1987	95,930	85.7	%	892	10.85	—	24 Hour Fitness
438	Cedar Bellaire	Bellaire	TX	Houston-The Woodlands-Sugar Land, TX	1994	50,967	100.0	%	705	13.83	H-E-B	—
439	El Camino	Bellaire	TX	Houston-The Woodlands-Sugar Land, TX	2008	71,575	98.4	%	607	8.62	El Ahorro Supermarket	Family Dollar, Hancock Fabrics
440	Bryan Square	Bryan	TX	College Station-Bryan, TX	2008	59,029	100.0	%	340	6.71	—	99 Cents Only, Citi Trends, Dollar Floor Store, Firestone
441	Townshire	Bryan	TX	College Station-Bryan, TX	2002	136,887	91.2	%	1,007	16.43	Walmart Neighborhood Market	Tops Printing
442	Plantation Plaza	Clute	TX	Houston-The Woodlands-Sugar Land, TX	1997	99,141	99.0	%	825	8.58	Kroger	Walgreens
443	Central Station	College Station	TX	College Station-Bryan, TX	2012	176,847	90.9	%	2,415	15.41	—	OfficeMax, Spec's Liquors, Wally's Party Factory	Kohl's
444	Rock Prairie Crossing	College Station	TX	College Station-Bryan, TX	2002	118,700	100.0	%	1,328	25.23	Kroger	CVS
445	Carmel Village	Corpus Christi	TX	Corpus Christi, TX	1993	85,633	76.7	%	631	9.61	—	Bay Area Dialysis, Bealls (Stage Stores), Tuesday Morning
446	Five Points	Corpus Christi	TX	Corpus Christi, TX	2015	276,593	93.7	%	3,141	12.33	—	Bealls (Stage Stores), Burkes Outlet, Harbor Freight Tool, Hobby Lobby, Party City, Ross Dress for Less

Supplemental Disclosure - Three Months Ended December 31, 2015 Page 47

PROPERTY LIST
Dollars in thousands except per square foot amounts
					Year		Percent
	Property Name	City	State	Metropolitan Statistical Area	Built	GLA	Leased		ABR	ABR / SF	Grocer (1)	Other Major Tenants	Non-Owned Major Tenants
447	Claremont Village	Dallas	TX	Dallas-Fort Worth-Arlington, TX	1976	67,305	94.6	%	510	8.15	Minyard Food Stores	Family Dollar
448	Jeff Davis	Dallas	TX	Dallas-Fort Worth-Arlington, TX	1975	68,962	79.8	%	565	10.26	Save-A-Lot (Supervalu)	Family Dollar
449	Stevens Park Village	Dallas	TX	Dallas-Fort Worth-Arlington, TX	1974	45,492	100.0	%	449	9.87	—	Big Lots, O'Reilly Auto Parts
450	Webb Royal Plaza	Dallas	TX	Dallas-Fort Worth-Arlington, TX	2015	108,545	92.1	%	844	9.89	El Rio Grande Latin Market	Family Dollar
451	Wynnewood Village	Dallas	TX	Dallas-Fort Worth-Arlington, TX	2006	443,681	88.2	%	4,135	10.70	Kroger	Fallas Paredes, Gen X Clothing, Ross Dress for Less
452	Parktown	Deer Park	TX	Houston-The Woodlands-Sugar Land, TX	1999	121,388	93.4	%	959	8.48	Food Town	Burkes Outlet, Walgreens
453	Kenworthy Crossing	El Paso	TX	El Paso, TX	2003	74,393	96.4	%	714	9.96	Albertsons	—
454	Preston Ridge	Frisco	TX	Dallas-Fort Worth-Arlington, TX	2015	780,595	94.4	%	14,312	19.86	SuperTarget*	Best Buy, Big Lots, DSW, Marshalls, Old Navy, Ross Dress for Less, Saks OFF Fifth, Sheplers, Stein Mart, T.J.Maxx
455	Forest Hills Village	Ft. Worth	TX	Dallas-Fort Worth-Arlington, TX	1968	69,651	100.0	%	394	5.66	Foodland Markets	Family Dollar, Hi Style Fashion
456	Ridglea Plaza	Ft. Worth	TX	Dallas-Fort Worth-Arlington, TX	1990	170,519	100.0	%	1,979	11.95	Tom Thumb (Albertsons)	Stein Mart
457	Trinity Commons	Ft. Worth	TX	Dallas-Fort Worth-Arlington, TX	1998	197,423	99.4	%	3,787	19.31	Tom Thumb (Albertsons)	DSW
458	Village Plaza	Garland	TX	Dallas-Fort Worth-Arlington, TX	2002	89,241	100.0	%	1,003	11.24	Truong Nguyen Grocer	—
459	North Hills Village	Haltom City	TX	Dallas-Fort Worth-Arlington, TX	1998	43,299	93.2	%	292	7.24	Save-A-Lot	Dollar Tree, Rent-A-Center
460	Highland Village Town Center	Highland Village	TX	Dallas-Fort Worth-Arlington, TX	1996	99,341	90.2	%	972	10.84	Kroger	—
461	Bay Forest	Houston	TX	Houston-The Woodlands-Sugar Land, TX	2004	71,667	98.3	%	746	10.59	Kroger	—
462	Beltway South	Houston	TX	Houston-The Woodlands-Sugar Land, TX	1998	107,174	97.0	%	957	28.27	Kroger	—
463	Braes Heights	Houston	TX	Houston-The Woodlands-Sugar Land, TX	2003	101,002	100.0	%	1,954	19.35	—	CVS, Imagination Toys, I W Marks Jewelers
464	Braes Link	Houston	TX	Houston-The Woodlands-Sugar Land, TX	1999	38,997	100.0	%	661	16.95	—	Walgreens
465	Braes Oaks Center	Houston	TX	Houston-The Woodlands-Sugar Land, TX	1992	45,067	94.5	%	448	10.53	H-E-B	—
466	Braesgate	Houston	TX	Houston-The Woodlands-Sugar Land, TX	1997	91,382	94.6	%	568	6.57	Food Town	—
467	Broadway	Houston	TX	Houston-The Woodlands-Sugar Land, TX	2006	76,142	100.0	%	778	10.64	El Ahorro Supermarket	Fallas Paredes, Melrose Fashions
468	Clear Lake Camino South	Houston	TX	Houston-The Woodlands-Sugar Land, TX	2004	102,643	90.0	%	1,391	16.15	—	24 Hour Fitness, Hancock Fabrics, Mr. Gatti's Pizza, Spec's Liquors
469	Hearthstone Corners	Houston	TX	Houston-The Woodlands-Sugar Land, TX	1998	208,147	93.9	%	1,882	9.63	Kroger	Big Lots, Stein Mart
470	Inwood Forest	Houston	TX	Houston-The Woodlands-Sugar Land, TX	1997	77,553	98.1	%	694	9.15	Foodarama	—
471	Jester Village	Houston	TX	Houston-The Woodlands-Sugar Land, TX	1988	64,285	75.1	%	478	9.90	H-E-B	—
472	Jones Plaza	Houston	TX	Houston-The Woodlands-Sugar Land, TX	2000	111,206	78.3	%	817	9.39	—	Fitness Connection, Hancock Fabrics
473	Jones Square	Houston	TX	Houston-The Woodlands-Sugar Land, TX	1999	169,003	98.7	%	1,302	7.91	—	Big Lots, Hobby Lobby
474	Maplewood Mall	Houston	TX	Houston-The Woodlands-Sugar Land, TX	2004	94,871	97.8	%	777	8.38	Foodarama	Burke's Outlet
475	Merchants Park	Houston	TX	Houston-The Woodlands-Sugar Land, TX	2009	243,798	100.0	%	3,318	13.61	Kroger	Big Lots, Petco, Ross Dress for Less, Tuesday Morning
476	Northgate	Houston	TX	Houston-The Woodlands-Sugar Land, TX	1972	40,244	100.0	%	315	7.83	—	Affordable Furniture, Firestone, Lumber Liquidators, TitleMax
477	Northshore	Houston	TX	Houston-The Woodlands-Sugar Land, TX	2001	230,779	93.9	%	2,720	12.75	Sellers Bros.	Conn's, Office Depot
478	Northtown Plaza	Houston	TX	Houston-The Woodlands-Sugar Land, TX	1990	190,622	89.5	%	1,935	11.51	—	99 Cents Only, CVS, Fallas Paredes
479	Northwood Plaza	Houston	TX	Houston-The Woodlands-Sugar Land, TX	1972	136,747	96.0	%	1,353	10.48	Food City	—
480	Orange Grove	Houston	TX	Houston-The Woodlands-Sugar Land, TX	2005	189,201	94.1	%	1,752	9.98	—	24 Hour Fitness, FAMSA, Floor & Décor
481	Pinemont Shopping Center	Houston	TX	Houston-The Woodlands-Sugar Land, TX	1999	73,577	92.9	%	880	13.18	—	Family Dollar, Houston Community College
482	Royal Oaks Village	Houston	TX	Houston-The Woodlands-Sugar Land, TX	2001	145,229	95.5	%	3,038	21.90	H-E-B	—
483	Tanglewilde Center	Houston	TX	Houston-The Woodlands-Sugar Land, TX	1998	82,565	100.0	%	1,133	13.84	—	Ace Hardware, Dollar Tree, Party City, Salon In The Park
484	Westheimer Commons	Houston	TX	Houston-The Woodlands-Sugar Land, TX	2012	242,409	91.9	%	2,053	9.22	Fiesta Mart	Marshalls, Rainbow
485	Fry Road Crossing	Katy	TX	Houston-The Woodlands-Sugar Land, TX	2005	237,340	100.0	%	2,377	10.10	Kroger	Hobby Lobby, Palais Royal, Stein Mart
486	Washington Square	Kaufman	TX	Dallas-Fort Worth-Arlington, TX	1978	64,230	82.7	%	304	5.72	—	AutoZone, Bealls (Stage Stores), Dollar Tree
487	Jefferson Park	Mount Pleasant	TX	Mount Pleasant, TX	2001	132,096	71.2	%	645	7.00	Super 1 Foods	—
488	Winwood Town Center	Odessa	TX	Odessa, TX	2002	365,559	100.0	%	2,765	12.10	H-E-B	Hastings, Office Depot, Ross Dress for Less, Target
489	Crossroads Centre - Pasadena	Pasadena	TX	Houston-The Woodlands-Sugar Land, TX	1997	134,006	94.8	%	1,503	12.72	Kroger	Sears Hardware
490	Spencer Square	Pasadena	TX	Houston-The Woodlands-Sugar Land, TX	1998	194,470	85.4	%	1,999	12.04	Kroger	Burkes Outlet
491	Pearland Plaza	Pearland	TX	Houston-The Woodlands-Sugar Land, TX	1995	156,491	80.3	%	1,120	8.91	Kroger	Walgreens
492	Market Plaza	Plano	TX	Dallas-Fort Worth-Arlington, TX	2002	168,137	70.2	%	2,707	24.05	Central Market (H-E-B)	—
493	Preston Park	Plano	TX	Dallas-Fort Worth-Arlington, TX	2015	239,022	88.4	%	5,485	25.97	Kroger	—
494	Northshore Plaza	Portland	TX	Corpus Christi, TX	2000	152,144	94.1	%	932	13.60	H-E-B	Bealls (Stage Stores)	Kmart
495	Klein Square	Spring	TX	Houston-The Woodlands-Sugar Land, TX	1999	80,636	98.8	%	861	10.81	Food Town	Family Dollar, Unleashed (Petco)
496	Keegan's Meadow	Stafford	TX	Houston-The Woodlands-Sugar Land, TX	1999	125,491	94.7	%	1,232	10.70	Randalls (Albertsons)	Palais Royal
497	Texas City Bay	Texas City	TX	Houston-The Woodlands-Sugar Land, TX	2005	223,152	53.9	%	1,161	9.71	Kroger	—
498	Windvale Center	The Woodlands	TX	Houston-The Woodlands-Sugar Land, TX	2002	101,088	89.4	%	959	29.03	Randalls (Albertsons)	—

Supplemental Disclosure - Three Months Ended December 31, 2015 Page 48

PROPERTY LIST
Dollars in thousands except per square foot amounts
					Year		Percent
	Property Name	City	State	Metropolitan Statistical Area	Built	GLA	Leased		ABR		ABR / SF		Grocer (1)	Other Major Tenants	Non-Owned Major Tenants
499	The Centre at Navarro	Victoria	TX	Victoria, TX	2005	47,960	96.9	%	729		15.69		—	Hastings, Walgreens
500	Spradlin Farm	Christiansburg	VA	Blacksburg-Christiansburg-Radford, VA	2000	180,220	92.8	%	2,386		14.53		—	Barnes & Noble, Big Lots, Michaels, T.J.Maxx	Target, The Home Depot
501	Culpeper Town Square	Culpeper	VA	Washington-Arlington-Alexandria, DC-VA-MD-WV	1999	132,882	94.2	%	1,122		8.96		Food Lion	Mountain Run Bowling, Tractor Supply Co.
502	Hanover Square	Mechanicsville	VA	Richmond, VA	1991	129,887	95.6	%	1,611		12.97		Martin's Food (Ahold)	Gold's Gym	Kohl's
503	Jefferson Green	Newport News	VA	Virginia Beach-Norfolk-Newport News, VA-NC	1988	54,945	89.8	%	728		14.75		—	Destination XL, Once Upon a Child, Tuesday Morning
504	Tuckernuck Square	Richmond	VA	Richmond, VA	1994	86,010	47.9	%	824		19.98		—	Chuck E. Cheese's
505	Cave Spring Corners	Roanoke	VA	Roanoke, VA	2005	147,133	94.3	%	1,023		12.81		Kroger	Hamrick's
506	Hunting Hills	Roanoke	VA	Roanoke, VA	2014	166,207	94.6	%	1,307		8.31		—	Kohl's, PetSmart
507	Valley Commons	Salem	VA	Roanoke, VA	1988	45,580	20.4	%	90		9.68		—	—
508	Lake Drive Plaza	Vinton	VA	Roanoke, VA	2008	163,090	98.8	%	1,241		7.70		Kroger	Big Lots, Goodwill
509	Hilltop Plaza	Virginia Beach	VA	Virginia Beach-Norfolk-Newport News, VA-NC	2010	150,300	90.5	%	2,514		18.69		Trader Joe's	Jo-Ann Fabric & Craft Stores, Kirkland’s, Office Depot, PetSmart
510	Ridgeview Centre	Wise	VA	Big Stone Gap, VA	2015	190,242	57.0	%	831		7.67		—	Grand Home Furnishings, Ollie's Bargain Outlet	Belk
511	Rutland Plaza	Rutland	VT	Rutland, VT	1997	224,514	98.2	%	1,906		8.64		Price Chopper	Flagship Cinemas, T.J.Maxx, Walmart
512	Fitchburg Ridge Shopping Center	Fitchburg	WI	Madison, WI	2003	50,555	77.7	%	460		11.76		—	Wisconsin Dialysis
513	Spring Mall	Greenfield	WI	Milwaukee-Waukesha-West Allis, WI	2003	188,861	83.5	%	1,179		7.48		Pick 'N Save (Kroger)**	T.J.Maxx
514	Mequon Pavilions	Mequon	WI	Milwaukee-Waukesha-West Allis, WI	2015	219,541	89.0	%	3,044		15.58		Sendik's Food Market	Bed Bath & Beyond, DSW, Marshalls
515	Moorland Square Shopping Ctr	New Berlin	WI	Milwaukee-Waukesha-West Allis, WI	1990	98,303	95.0	%	878		9.40		Pick 'n Save (Kroger)	—	Walmart
516	Paradise Pavilion	West Bend	WI	Milwaukee-Waukesha-West Allis, WI	2000	203,630	98.4	%	1,471		7.34		—	Hobby Lobby, Kohl's	ShopKo
517	Moundsville Plaza	Moundsville	WV	Wheeling, WV-OH	2004	176,156	96.0	%	1,211		7.16		Kroger	Big Lots, Dunham's Sports, Peebles
518	Grand Central Plaza	Parkersburg	WV	Parkersburg-Vienna, WV	1986	75,344	100.0	%	801		10.63		—	Office Depot, O'Reilly Auto Parts, T.J.Maxx
	TOTAL PORTFOLIO					86,615,572	92.6	%	$	945,667	$	12.76
(1) * Indicates grocer is not owned; ** Indicates grocer is dark and paying.

Supplemental Disclosure - Three Months Ended December 31, 2015 Page 49

GUIDANCE
	Supplemental Disclosure Three Months Ended December 31, 2015

GUIDANCE & ADDITIONAL DISCLOSURES
	GUIDANCE: (1)
					2016E
		NAREIT FFO per common share - diluted			$2.01 - $2.09
		Same property NOI			2.5 - 3.5%
		Percent leased (at year-end)			92.8 - 93.0%
		New and renewal rent growth (cash)			10 - 15%
		Total leasing related capital expenditures			$155 - $175M
			Anchor space repositioning and redevelopment related spending		$95 - $110M
		General and administrative expenses			$84 - $87M
		Straight-line rent and above- and below-market rent amortization, net			$50 - $53M
		Interest expense (2)			$230 - $239M
		Debt premium and discount amortization			$12 - $14M
		Dispositions			$75 - $175M
	ADDITIONAL DISCLOSURES - as of 12/31/15 (dollars in millions)
		Estimated market value of expansion land and outparcels available			$53
		ABR from leases signed but not yet commenced			$29
			Leases signed but not yet commenced:		Leases	GLA	ABR		ABR/SF
				≥ 10,000 SF	48	1,071,817	$	14.3	$	13.32
				< 10,000 SF	251	706,954	15.2		21.53
				TOTAL	299	1,778,771	$	29.5	$	16.58
(1) The Company's guidance does not include any expectations of one-time items, including, but not limited to, costs related to the Audit Committee review, encompassing but not limited to legal and consulting fees and
potential litigation and investigative costs, as well as any costs related to the hiring of a permanent chief executive officer and chief financial officer.
(2) Excludes capitalized interest, deferred financing cost amortization and debt premium and discount amortization, net.

Supplemental Disclosure - Three Months Ended December 31, 2015 Page 51