EX-99.1 2 wri-20130930x8kpressreleas.htm EXHIBIT 99.1 WRI-2013.09.30-8K Press Release Ex-99.1


Exhibit 99.1





 
 
 
Table of Contents
Page
Quarterly Earnings Press Release
i - iv
Company Information
1
 
 
 
Financial Summary
 
 
Condensed Consolidated Statements of Income
3
 
Condensed Consolidated Balance Sheets
4
 
Funds From Operations
5
 
Supplemental Income Statement Detail
6
 
Supplemental Balance Sheet Detail
7
 
Capitalization and Debt Coverage Ratios
8
 
Guidance
9
 
 
 
Investment Activity
 
 
New Development Properties
11
 
Land Held for Development
12
 
Disposition and Acquisition Summary
13
 
Capital Expenditures
14
 
 
 
Summary of Debt
 
 
Debt Information
16
 
Schedule of Maturities
17
 
 
 
Joint Ventures
 
 
Unconsolidated Joint Venture Financial Statements at 100%
19
 
Unconsolidated Joint Venture Financial Statements at Pro rata Share
20
 
Investments in Unconsolidated Real Estate Joint Ventures & Partnerships
21
 
Unconsolidated Joint Venture Mortgage Debt Information
22
 
 
 
Portfolio Summary
 
 
Tenant Diversification by Percent of Rental Revenues
24
 
Portfolio Operating Information
25 - 26
 
Total Net Operating Income by Geographic Region
27
 
 
 
Property Listing
 
 
Summary Property Listing
29
 
Property Listing
30 - 40
 
 
 
Other Topics of Interest
 
 
Reconciliation of Impairment Transactions
42
 
 
 
Corporate Profile
 
 
 
 
Weingarten Realty Investors is a real estate investment trust organized under the Texas Business Organizations Code that, through its predecessor entity, began the ownership and development of shopping centers and other commercial real estate in 1948. As of September 30, 2013, we owned or operated under long-term leases, interests in 273 properties which are located in 21 states that span the United States from coast to coast. These properties represent approximately 50.4 million square feet of which our interests in these properties aggregated approximately 30.1 million square feet of leasable area. Our properties were 94.4% leased as of September 30, 2013, and historically our portfolio occupancy rate has never been below 90%.
 
 
 
 
 
www.weingarten.com
 



2600 Citadel Plaza Drive
P.O. Box 924133
Houston, Texas 77292-4133

NEWS RELEASE

Information: Michelle Wiggs, Phone: (713) 866-6050

WEINGARTEN REALTY INCREASES SAME PROPERTY NOI BY 4.7% AND RECURRING FFO BY 10.9%

HOUSTON, October 31, 2013 (BUSINESS WIRE) -- Weingarten Realty (NYSE: WRI) announced today the results of its operations for the quarter ended September 30, 2013. The supplemental financial package with additional information can be found on the Company's website under the Investor Relations tab.
Third Quarter Operating and Financial Highlights
Recurring Funds from Operations ("FFO") for the third quarter totaled $63.3 million or $0.51 per diluted share, a 10.9% per share increase over the same quarter of 2012;
Same Property Net Operating Income for the quarter increased a strong 4.7% over the prior year;
Occupancy of the Company’s retail portfolio increased again this quarter by 0.5% to 94.4% from 93.9% a year earlier;
Dispositions of $116 million were completed during the quarter, and;
Ten-year notes totaling $250 million were sold subsequent to quarter-end at an attractive yield of 4.50%.
Financial Results
The Company reported net income attributable to common shareholders of $57.8 million or $0.47 per diluted share (hereinafter “per share”) for the third quarter of 2013, as compared to $31.4 million or $0.26 per share for the same period in 2012. Gains on sales of property totaled $38.4 million in 2013 compared to $15.2 million in 2012. The 2013 operating results also included non-cash impairment charges of $0.02 per share. Net income for the nine months ended September 30, 2013 was $136.9 million or $1.12 per share compared to $66.3 million or $0.54 per share for 2012. Year-to-date, gains on sales of property totaled $116.8 million in 2013 compared to $50.6 million in 2012.
Reported FFO was $60.5 million or $0.49 per share for the third quarter of 2013 compared to $55.5 million or $0.45 per share for 2012. Year-to-date, Reported FFO was $172.6 million or $1.39 per share for 2013 compared to $166.9 million or $1.35 per share for 2012.
Recurring FFO for the quarter ended September 30, 2013 was $0.51 per share or $63.3 million compared to $56.6 million or $0.46 per share for 2012, an increase of 10.9% on a

i




per share basis. This significant increase in Recurring FFO over the prior year was primarily due to solid leasing demand resulting in an increase in occupancy and the savings from the redemption and refinancing of preferred shares offset by the impact of the successful disposition program. For the nine months, Recurring FFO was $183.6 million or $1.48 per share for 2013 compared to $170.9 million or $1.39 per share for 2012, a 6.5% increase on a per share basis.
A reconciliation between net income attributable to common shareholders to Reported FFO and Recurring FFO is listed on page 5 of the Company’s supplemental package.
Operating Results
Occupancy of the retail portfolio increased to 94.4% in the third quarter from 93.9% in the third quarter of 2012. Anchor spaces increased 0.7% to 97.9% and occupancy of small shop space (less than 10,000 square feet) increased 0.4% to 88.7% from the same quarter of the prior year.
Same Property Net Operating Income ("SPNOI") for retail properties increased a strong 4.7% for the quarter primarily due to continued strength in both renewals and new leases and the improvement in occupancy mentioned above. Year-to-date, SPNOI has increased 4.5%, which was ahead of the Company’s business plan.
 
The Company produced strong leasing results during the third quarter with 330 new leases and renewals, totaling about one million square feet. These transactions were comprised of 109 new leases and 221 renewals, which represent annualized revenues of $6.4 million and $11.4 million, respectively. The average rental rate increase on comparable new leases signed during the quarter was a solid 9.4%.
"The continued rise in occupancy and, to a lesser degree, strong rental rate increases has enabled us to post the excellent Same Property NOI growth for the quarter and the year. Our best in class operating platform and quality portfolio of properties has allowed us to sustain this improvement in operating results for seven consecutive quarters,” said Johnny Hendrix, Executive Vice President and Chief Operating Officer.
Capital Recycling

The Company reported significant progress in selling its non-core assets and redeploying that capital into higher quality properties in its target markets. Year-to-date, dispositions totaled $240 million. During the quarter, the Company sold eight shopping centers and two land parcels for $116 million. Disposition activity is expected to remain strong in the fourth quarter with full year results near the upper end of the Company’s guidance for property sales of $350 million.

Subsequent to quarter-end, the Company completed investments of $86 million with the purchase of an outstanding in-fill shopping center in Austin, Texas and the acquisition of a small building in Utah in connection with the dissolution of a joint venture. The acquired shopping center was Mueller Regional Retail Center, a 350,000 square foot power center

ii




anchored by national retailers such as Home Depot, Marshalls, Bed Bath & Beyond, and PetSmart. The property is part of the 700 acre Mueller master planned community that will include over four million square feet of commercial space and 4,600 residential units when completed. Year-to-date, the Company has invested $175 million in quality shopping centers in our targeted markets.

“We have continued the transformation of our portfolio through these acquisitions and dispositions. We continue to reduce the size of our non-core portfolio and recycle that capital into outstanding new properties, which has significantly contributed to the solid financial results we are experiencing,” said Drew Alexander, President and Chief Executive Officer.

Balance Sheet

On October 15, 2013, the Company closed on the sale of $250 million of 4.45% notes due in January 2024. The notes were priced at a slight discount yielding 4.50%. The proceeds from the transaction were used to pay down all amounts outstanding under the Company’s $500 million revolving credit facility with the remainder invested in short-term instruments. This transaction effectively pre-funded the majority of the Company’s $285 million of January 2014 debt maturities.

“With all the volatility and uncertainty in the marketplace caused by the talk of tapering the Fed’s bond purchases, the government shutdown and the debt ceiling negotiations, we felt this notes offering was effectively an insurance policy for the Company’s January 2014 maturities. We were extremely pleased with the execution, especially in light of the unusual market conditions,” said Steve Richter, Executive Vice President and Chief Financial Officer.

Recurring FFO Guidance

With respect to 2013 guidance, the Company once again raised its guidance for Recurring FFO from $1.89 to $1.93 per share to $1.93 to $1.95 per share. Recurring FFO guidance for 2014 is a range from $1.95 to $2.01 per share. The Company’s guidance for 2013 and 2014, and assumptions for 2013 are provided on page 9 of its supplemental package.

Dividends

The Board of Trust Managers declared a quarterly cash dividend of $0.305 per common share payable on December 13, 2013 to shareholders of record on December 5, 2013.

The Board of Trust Managers also declared dividends on the Company’s 6.50% Series F Cumulative Redeemable Preferred Shares (NYSE:WRIPrF) of $0.40625 per share for the quarter payable on December 13, 2013 to shareholders of record on December 5, 2013.

Conference Call Information

The Company also announced that it will host a live webcast of its quarterly conference call on November 1, 2013 at 11:00 a.m. Central Time. The live webcast can be accessed via the Company’s website at www.weingarten.com. Alternatively, if you are not able to access

iii




the call on the web, you can listen live by phone by calling (888) 771-4371 (conference ID # 32913555). A replay will be available through the Company’s website starting approximately two hours following the live call.

About Weingarten Realty Investors

Weingarten Realty Investors (NYSE: WRI) is a shopping center owner, manager and developer.  At September 30, 2013, the Company owned or operated under long-term leases, either directly or through its interest in real estate joint ventures or partnerships, a total of 273 properties which are located in 21 states spanning the country from coast to coast. These properties represent approximately 50.4 million square feet of which our interests in these properties aggregated approximately 30.1 million square feet of leasable area. To learn more about the Company’s operations and growth strategies, please visit www.weingarten.com.

Forward-Looking Statements

Statements included herein that state the Company’s or Management’s intentions, hopes, beliefs, expectations or predictions of the future are “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995 which by their nature, involve known and unknown risks and uncertainties. The Company’s actual results, performance or achievements could differ materially from those expressed or implied by such statements. Reference is made to the Company’s regulatory filings with the Securities and Exchange Commission for information or factors that may impact the Company’s performance.


iv



Weingarten Realty Investors
Company Information



Corporate Office
 
 
 
2600 Citadel Plaza Drive
 
P. O. Box 924133
 
Houston, TX 77292-4133
 
713-866-6000
 
www.weingarten.com
 
 
 
Stock Listings
 
 
 
New York Stock Exchange:
 
Common Shares
WRI
Series F Preferred Shares
WRI-PF
8.1% 2019 Notes
WRD

Forward-Looking Statements
This supplement, together with other statements and information publicly disseminated by us, contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and include this statement for purposes of complying with these safe harbor provisions. These forward-looking statements relate to the company’s intentions, beliefs, expectations or projections of the future. It is important to note that the company’s actual results could differ materially from those projected in such forward-looking statements. Factors which may cause actual results to differ materially from current expectations include, but are not limited to: (i) disruptions in financial markets, (ii) general economic and local real estate conditions, (iii) the inability of major tenants to continue paying their rent obligations due to bankruptcy, insolvency or general downturn in their business, (iv) financing risks, such as the inability to obtain equity, debt, or other sources of financing on favorable terms, (v) changes in governmental laws and regulations, (vi) the level and volatility of interest rates, (vii) the availability of suitable acquisition opportunities, (viii) the ability to dispose properties, (ix) changes in expected development activity, (x) increases in operating costs, (xi) tax matters, including failure to qualify as a real estate investment trust, and (xii) investments through real estate joint ventures and partnerships, which involve risks not present in investments in which we are the sole investor. Accordingly, there is no assurance that our expectations will be realized.

Non-GAAP Disclosures
The National Association of Real Estate Investment Trusts (“NAREIT”) defines funds from operations (“FFO”) as net income (loss) attributable to common shareholders computed in accordance with generally accepted accounting principles (“GAAP”), excluding extraordinary items and gains or losses from sales of operating real estate assets and interests in real estate equity investments, plus depreciation and amortization of operating properties and impairment of depreciable real estate and in substance real estate equity investments, including our share of unconsolidated real estate joint ventures and partnerships. We calculate FFO in a manner consistent with the NAREIT definition. Management uses FFO as a supplemental measure to conduct and evaluate our business because there are certain limitations associated with using GAAP net income by itself as the primary measure of our operating performance. Historical cost accounting for real estate assets in accordance with GAAP implicitly assumes that the value of real estate assets diminishes predictably over time. Since real estate values instead have historically risen or fallen with market conditions, management believes that the presentation of operating results for real estate companies that uses historical cost accounting is insufficient by itself. There can be no assurance that FFO presented by us is comparable to similarly titled measures of other REITs. FFO should not be considered as an alternative to net income or other measurements under GAAP as an indicator of our operating performance or to cash flows from operating, investing or financing activities as a measure of liquidity. FFO does not reflect working capital changes, cash expenditures for capital improvements or principal payments on indebtedness.
 


Page 1












Financial Summary




Weingarten Realty Investors
Condensed Consolidated Statements of Income
(in thousands, except per share amounts)
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
Twelve Months Ended December 31,
 
2013
 
2012
 
2013
 
2012
 
2012
 
2011
 
2010
 
2009
Revenues:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Rentals, net
$
127,548

 
$
119,211

 
$
374,266

 
$
342,507

 
$
463,478

 
$
436,580

 
$
430,220

 
$
441,800

Other
3,119

 
3,108

 
9,486

 
8,346

 
12,044

 
13,848

 
10,938

 
15,070

Total
130,667

 
122,319

 
383,752

 
350,853

 
475,522

 
450,428

 
441,158

 
456,870

Expenses:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Depreciation and amortization
37,122

 
34,591

 
112,347

 
97,845

 
133,871

 
123,902

 
118,150

 
116,042

Operating
25,530

 
25,191

 
74,213

 
69,048

 
93,043

 
84,991

 
86,017

 
83,449

Real estate taxes, net
15,624

 
14,499

 
45,242

 
41,306

 
54,914

 
52,409

 
50,075

 
55,157

Impairment loss
2,358

 
197

 
2,579

 
9,585

 
9,585

 
49,671

 
33,317

 
34,983

General and administrative
5,966

 
6,417

 
18,818

 
21,101

 
28,549

 
25,472

 
24,939

 
25,857

Total
86,600

 
80,895

 
253,199

 
238,885

 
319,962

 
336,445

 
312,498

 
315,488

Operating Income
44,067

 
41,424

 
130,553

 
111,968

 
155,560

 
113,983

 
128,660

 
141,382

Interest Expense, net
(27,660
)
 
(27,482
)
 
(73,689
)
 
(86,692
)
 
(113,287
)
 
(136,997
)
 
(142,008
)
 
(147,709
)
Interest and Other Income, net
1,864

 
1,818

 
5,788

 
4,786

 
6,048

 
5,062

 
9,823

 
11,421

Gain on Sale of Real Estate Joint Venture and Partnership Interests
7

 

 
11,599

 
5,562

 
14,203

 

 

 

Equity in Earnings (Losses) of Real Estate Joint Ventures
 and Partnerships, net (a)
5,125

 
4,905

 
14,467

 
(6,715
)
 
(1,558
)
 
7,834

 
12,889

 
5,548

Gain on Acquisition

 
1,869

 

 
1,869

 
1,869

 

 

 

(Loss) Gain on Redemption of Convertible Senior Unsecured Notes

 

 

 

 

 

 
(135
)
 
25,311

Gain on Land and Merchant Development Sales

 

 

 

 

 

 

 
3,851

Benefit (Provision) for Income Taxes
215

 
(722
)
 
214

 
(378
)
 
21

 
(47
)
 
207

 
(5,877
)
Income (Loss) from Continuing Operations
23,618

 
21,812

 
88,932

 
30,400

 
62,856

 
(10,165
)
 
9,436

 
33,927

Operating Income from Discontinued Operations
394

 
5,074

 
5,656

 
16,463

 
19,942

 
14,952

 
38,704

 
60,318

Gain on Sale of Property from Discontinued Operations
38,214

 
14,826

 
116,226

 
49,724

 
68,589

 
10,648

 
1,093

 
56,537

Income from Discontinued Operations
38,608

 
19,900

 
121,882

 
66,187

 
88,531

 
25,600

 
39,797

 
116,855

Gain on Sale of Property
163

 
335

 
570

 
859

 
1,034

 
1,304

 
2,005

 
24,494

Net Income
62,389

 
42,047

 
211,384

 
97,446

 
152,421

 
16,739

 
51,238

 
175,276

Less: Net Income Attributable to Noncontrolling Interests
(1,847
)
 
(1,774
)
 
(41,056
)
 
(4,557
)
 
(5,781
)
 
(1,118
)
 
(5,032
)
 
(4,174
)
Net Income Adjusted for Noncontrolling Interests
60,542

 
40,273

 
170,328

 
92,889

 
146,640

 
15,621

 
46,206

 
171,102

Dividends on Preferred Shares
(2,710
)
 
(8,869
)
 
(15,463
)
 
(26,607
)
 
(34,930
)
 
(35,476
)
 
(35,476
)
 
(35,476
)
Redemption Costs of Preferred Shares

 

 
(17,944
)
 

 
(2,500
)
 

 

 

Net Income (Loss) Attributable to Common Shareholders
$
57,832

 
$
31,404

 
$
136,921

 
$
66,282

 
$
109,210

 
$
(19,855
)
 
$
10,730

 
$
135,626

Earnings Per Common Share - Basic
$
0.48

 
$
0.26

 
$
1.13

 
$
0.55

 
$
0.90

 
$
(0.17
)
 
$
0.09

 
$
1.24

Earnings Per Common Share - Diluted
$
0.47

 
$
0.26

 
$
1.12

 
$
0.54

 
$
0.90

 
$
(0.17
)
 
$
0.09

 
$
1.23

(a)
See Page 20 for the Company’s pro rata share of the operating results of its unconsolidated real estate joint ventures and partnerships.

Page 3


Weingarten Realty Investors
Condensed Consolidated Balance Sheets
(in thousands, except per share amounts)


 
September 30,
2013
 
December 31,
2012
ASSETS
 
 
 
Property
$
4,308,849

 
$
4,399,850

Accumulated Depreciation
(1,060,419
)
 
(1,040,839
)
Property, net
3,248,430

 
3,359,011

 
 
 
 
Investment in Real Estate Joint Ventures and Partnerships, net (a)
281,203

 
289,049

Total
3,529,633

 
3,648,060

 
 
 
 
Notes Receivable from Real Estate Joint Ventures and Partnerships
84,142

 
89,776

Unamortized Debt and Lease Costs, net
137,000

 
135,783

Accrued Rent and Accounts Receivable (net of allowance for doubtful
      accounts of $10,199 in 2013 and $12,127 in 2012)
76,828

 
79,540

Cash and Cash Equivalents
51,730

 
19,604

Restricted Deposits and Mortgage Escrows
57,468

 
44,096

Other, net
181,746

 
167,925

Total Assets
$
4,118,547

 
$
4,184,784

 
 
 
 
LIABILITIES AND EQUITY
 
 
 
Debt, net
$
2,293,898

 
$
2,204,030

Accounts Payable and Accrued Expenses
116,985

 
119,699

Other, net
113,375

 
120,900

Total Liabilities
2,524,258

 
2,444,629

 
 
 
 
Commitments and Contingencies

 

 
 
 
 
Equity:
 
 
 
Shareholders' Equity:
 
 
 
Preferred Shares of Beneficial Interest - par value, $.03 per share;
 shares authorized: 10,000
 
 
 
6.75% Series D cumulative redeemable preferred shares of beneficial interest;
100 shares issued; no shares outstanding in 2013 and 100 shares outstanding
in 2012; liquidation preference $75,000 in 2012

 
3

6.5% Series F cumulative redeemable preferred shares of beneficial interest;
140 shares issued; 60 shares outstanding in 2013 and 140 shares outstanding
in 2012; liquidation preference $150,000 in 2013 and $350,000 in 2012
2

 
4

Common Shares of Beneficial Interest - par value, $.03 per share;
 shares authorized: 275,000; shares issued and outstanding:
 121,940 in 2013 and 121,505 in 2012
3,683

 
3,663

Additional Paid-In Capital
1,690,687

 
1,934,183

Net Income Less Than Accumulated Dividends
(310,568
)
 
(335,980
)
Accumulated Other Comprehensive Loss
(15,147
)
 
(24,743
)
Total Shareholders' Equity
1,368,657

 
1,577,130

Noncontrolling Interests
225,632

 
163,025

Total Equity
1,594,289

 
1,740,155

Total Liabilities and Equity
$
4,118,547

 
$
4,184,784

(a)
This represents the Company’s investment of its unconsolidated real estate joint ventures and partnerships. See page 20 for additional information.

Page 4


Weingarten Realty Investors
Funds From Operations
(in thousands, except per share amounts)

 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2013
 
2012
 
2013
 
2012
Funds from Operations
 
 
 
 
 
 
 
Numerator:
 
 
 
 
 
 
 
Net income attributable to common shareholders
$
57,832

 
$
31,404

 
$
136,921

 
$
66,282

Depreciation and amortization
36,088

 
35,611

 
112,270

 
106,551

Depreciation and amortization of unconsolidated real estate
 joint ventures and partnerships
4,443

 
5,254

 
13,370

 
16,261

Impairment of operating properties and real estate equity investments

 
177

 
457

 
15,007

Impairment of operating properties of unconsolidated real estate
 joint ventures and partnerships

 
57

 
366

 
19,946

(Gain) on acquisition

 
(1,869
)
 

 
(1,869
)
(Gain) on sale of property and interests in real estate equity investments
(38,325
)
 
(15,140
)
 
(91,878
)
 
(56,047
)
(Gain) on sale of property of unconsolidated real estate
 joint ventures and partnerships
(24
)
 
(435
)
 
(267
)
 
(558
)
Funds from Operations - Basic
60,014

 
55,059

 
171,239

 
165,573

Income attributable to operating partnership units
445

 
431

 
1,336

 
1,294

Funds from Operations - Diluted
60,459

 
55,490

 
172,575

 
166,867

Adjustments for Recurring FFO:
 
 
 
 
 
 
 
Other impairment loss, net of tax
2,387

 
159

 
2,387

 
403

Write-off of debt costs, net
404

 

 
(9,263
)
 

Acquisition costs
18

 
981

 
428

 
1,473

Redemption costs of preferred shares

 

 
18,131

 

Other, net of tax

 

 
(673
)
 
2,123

Recurring Funds from Operations - Diluted
$
63,268

 
$
56,630

 
$
183,585

 
$
170,866

 
 
 
 
 
 
 
 
Denominator:
 
 
 
 
 
 
 
Funds from operations weighted average shares outstanding - Basic
121,359

 
120,766

 
121,235

 
120,637

Effect of dilutive securities:
 
 
 
 
 
 
 
Share options and awards
1,172

 
1,078

 
1,206

 
1,016

Operating partnership units
1,555

 
1,582

 
1,555

 
1,583

Funds from operations weighted average shares outstanding - Diluted
124,086

 
123,426

 
123,996

 
123,236

 
 
 
 
 
 
 
 
Funds from Operations per Share - Basic
$
0.49

 
$
0.46

 
$
1.41

 
$
1.37

 
 
 
 
 
 
 
 
Funds from Operations Per Share - Diluted
$
0.49

 
$
0.45

 
$
1.39

 
$
1.35

Adjustments for Recurring FFO per share:
 
 
 
 
 
 
 
Other impairment loss, net of tax
0.02

 

 
0.02

 

Write-off of debt costs, net

 

 
(0.07
)
 

Acquisition costs

 
0.01

 

 
0.02

Redemption costs of preferred shares

 

 
0.15

 

Other, net of tax

 

 
(0.01
)
 
0.02

Recurring Funds from Operations Per Share - Diluted
$
0.51

 
$
0.46

 
$
1.48

 
$
1.39

 
 
 
 
 
 
 
 

Page 5


Weingarten Realty Investors
Supplemental Income Statement Detail
(in thousands)
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2013
 
2012
 
2013
 
2012
Rentals, net
 
 
 
 
 
 
 
Base minimum rent, net
$
98,254

 
$
92,784

 
$
290,932

 
$
267,594

Straight line rent
946

 
932

 
1,974

 
2,230

Over/Under-market rentals, net
214

 
295

 
467

 
815

Percentage rent
1,513

 
1,499

 
3,640

 
3,615

Tenant reimbursements
26,621

 
23,701

 
77,253

 
68,253

Total
$
127,548

 
$
119,211

 
$
374,266

 
$
342,507

 
 
 
 
 
 
 
 
Fee Income Primarily from Real Estate Joint Ventures and Partnerships
 
 
 
 
 
 
 
Recurring
$
1,247

 
$
1,791

 
$
4,180

 
$
5,180

Non-Recurring

 

 
1,016

 

Total
$
1,247

 
$
1,791

 
$
5,196

 
$
5,180

 
 
 
 
 
 
 
 
Interest Expense, net
 
 
 
 
 
 
 
Interest paid or accrued
$
28,492

 
$
28,531

 
$
85,615

 
$
89,764

Over-market mortgage adjustment of acquired properties, net
(212
)
 
(249
)
 
(10,202
)
 
(678
)
Gross interest expense
28,280

 
28,282

 
75,413

 
89,086

Capitalized interest
(620
)
 
(800
)
 
(1,724
)
 
(2,394
)
Total
$
27,660

 
$
27,482

 
$
73,689

 
$
86,692

 
 
 
 
 
 
 
 
Interest and Other Income, net
 
 
 
 
 
 
 
Interest income from joint ventures (primarily construction loans)
$
565

 
$
824

 
$
1,823

 
$
2,240

Deferred compensation interest income
1,100

 
766

 
2,393

 
1,787

Other
199

 
228

 
1,572

 
759

Total
$
1,864

 
$
1,818

 
$
5,788

 
$
4,786

 
 
 
 
 
 
 
 
Supplemental Analyst Information
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net Operating Income including Joint Ventures
 
 
 
 
 
 
 
Revenues
$
130,667

 
$
122,319

 
$
383,752

 
$
350,853

Operating expense
(25,530
)
 
(25,191
)
 
(74,213
)
 
(69,048
)
Real estate taxes
(15,624
)
 
(14,499
)
 
(45,242
)
 
(41,306
)
Total
89,513

 
82,629

 
264,297

 
240,499

 
 
 
 
 
 
 
 
Net Operating Income from Discontinued Operations
1,464

 
8,553

 
11,408

 
39,823

 
 
 
 
 
 
 
 
Minority Interests Share of Net Operating Income and Other Adjustments
(5,043
)
 
(5,540
)
 
(15,047
)
 
(16,023
)
Pro rata Income From Consolidated Ventures
85,934

 
85,642

 
260,658

 
264,299

 
 
 
 
 
 
 
 
Pro rata share of Unconsolidated Joint Ventures
 
 
 
 
 
 
 
Revenues
15,757

 
17,025

 
46,518

 
50,786

Operating expense
(2,747
)
 
(2,940
)
 
(7,837
)
 
(8,563
)
Real estate taxes
(1,837
)
 
(2,173
)
 
(5,399
)
 
(6,451
)
Total
11,173

 
11,912

 
33,282

 
35,772

Net Operating Income including Joint Ventures
$
97,107

 
$
97,554

 
$
293,940

 
$
300,071

 
 
 
 
 
 
 
 
Equity in Earnings (Losses) of Real Estate Joint Ventures and Partnerships, net
Net income (loss) from unconsolidated real estate joint ventures and partnerships
$
3,852

 
$
3,610

 
$
10,855

 
$
(10,153
)
Intercompany fee income reclass
1,088

 
1,254

 
3,044

 
3,785

Other adjustments
185

 
41

 
568

 
(347
)
Equity in earnings (losses) of real estate joint ventures and partnerships, net
$
5,125

 
$
4,905

 
$
14,467

 
$
(6,715
)
 
 
 
 
 
 
 
 
Dividends
 
 
 
 
 
 
 
Common Dividends per Share
$
0.305

 
$
0.290

 
$
0.915

 
$
0.870

 
 
 
 
 
 
 
 
Common Dividends Paid as a % of Reported Funds from Operations - Basic
62.0
%
 
63.9
%
 
65.1
%
 
63.7
%
 
 
 
 
 
 
 
 
Common Dividends Paid as a % of Recurring Funds from Operations - Basic
59.2
%
 
62.6
%
 
61.2
%
 
62.2
%
 
 
 
 
 
 
 
 
General and Administrative Expenses
 
 
 
 
 
 
 
General and Administrative Expenses/Total Revenue
4.6
%
 
5.2
%
 
4.9
%
 
6.0
%
 
 
 
 
 
 
 
 
General and Administrative Expenses/Total Assets before Depreciation
0.12
%
 
0.12
%
 
0.36
%
 
0.40
%


Page 6


Weingarten Realty Investors
Supplemental Balance Sheet Detail
(in thousands)
 
September 30,
2013
 
December 31,
2012
 
 
 
 
Property
Land
$
878,652

 
$
881,156

Land held for development
118,334

 
121,294

Land under development
4,222

 
6,155

Buildings and improvements
3,235,883

 
3,325,793

Construction in-progress
71,758

 
65,452

Total
$
4,308,849

 
$
4,399,850

 
 
 
 
Straight Line Rent Receivable
 
$
57,382

 
$
58,497

 
 
 
 
Other Assets, net
Notes receivable and mortgage bonds, net
$
32,183

 
$
36,122

Debt service guaranty asset
74,075

 
74,075

Non-qualified benefit plan assets
17,760

 
16,027

Out-of-market rentals, net
8,311

 
7,729

Investments
7,034

 

Deferred income tax asset
11,044

 
11,548

Interest rate derivative
12,845

 
9,926

Other
18,494

 
12,498

Total
$
181,746

 
$
167,925

 
 
 
 
Other Liabilities, net
Deferred revenue
$
10,470

 
$
14,127

Non-qualified benefit plan liabilities
47,285

 
44,348

Deferred income tax payable
1,853

 
3,497

Out-of-market rentals, net
20,904

 
18,984

Interest rate derivative
537

 
768

Other
32,326

 
39,176

Total
$
113,375

 
$
120,900

 
 
 
 
Identified Intangible Assets and Liabilities
Identified Intangible Assets:
 
 
 
Above-market leases (included in Other Assets, net)
$
16,805

 
$
16,142

Above-market leases - Accumulated Amortization
(8,494
)
 
(8,413
)
Below-market assumed mortgages (included in Debt, net)
4,713

 
5,722

Below-market assumed mortgages - Accumulated Amortization
(1,787
)
 
(2,367
)
Valuation of in place leases (included in Unamortized Debt and Lease
Costs, net)
111,096

 
104,353

Valuation of in place leases - Accumulated Amortization
(46,174
)
 
(39,665
)
Total
$
76,159

 
$
75,772

 
 
 
 
Identified Intangible Liabilities:
 
 
 
Below-market leases (included in Other Liabilities, net)
$
39,934

 
$
36,517

Below-market leases - Accumulated Amortization
(19,030
)
 
(17,533
)
Above-market assumed mortgages (included in Debt, net)
42,536

 
42,708

Above-market assumed mortgages - Accumulated Amortization
(37,685
)
 
(29,176
)
Total
$
25,755

 
$
32,516



Page 7


Weingarten Realty Investors
Capitalization and Debt Coverage Ratios
(in thousands, except common share data and percentages)
 
September 30,
2013
 
December 31,
2012
 
 
 
 
Common Share Data
Closing Market Price
$
29.33

 
$
26.77

 
 
 
 
90-Day, Average Daily Trading Volume
743,930

 
836,362

 
 
 
 
Capitalization
Debt
$
2,293,898

 
$
2,204,030

Preferred Shares
150,000

 
425,000

Sub-total Debt & Preferred Shares
2,443,898

 
2,629,030

Common Shares at Market
3,576,500

 
3,252,689

Operating Partnership Units at Market
45,608

 
41,708

Total Market Capitalization (As reported)
$
6,066,006

 
$
5,923,427

Debt to Total Market Capitalization (As reported)
37.8
%
 
37.2
%
Debt to Total Market Capitalization (As reported at a constant share price of $26.77)
39.9
%
 
37.2
%
Debt to Total Market Capitalization (Pro rata)
37.5
%
 
36.3
%
 
 
 
 
Capital Availability
Revolving Credit Facility
$
500,000

 
$
500,000

Less:
 
 
 
Balance Outstanding Under Revolving Credit Facility
100,000

 
30,000

Outstanding Letters of Credit Under Revolving Facility
2,179

 
2,429

Unused Portion of Credit Facility
$
397,821

 
$
467,571

Covenant Ratios
 
 
Restrictions
 
 
 
 
Debt to Asset Ratio (Public)
 
Less than 60.0%
 
45.8
%
 
43.6
%
Debt + Preferred to Asset Ratio
 
None
 
48.8
%
 
52.0
%
Secured Debt to Asset Ratio (Public)
 
Less than 40.0%
 
15.9
%
 
18.5
%
Unencumbered Asset Test (Public)
 
Greater than 150%
 
226.1
%
 
250.6
%
Fixed Charge Coverage (Pro rata/Revolver)
 
Greater than 1.5x
 
 2.4x

 
 2.1x

Net Debt to Adjusted EBITDA
EBITDA (Current Quarter)
$
126,956

 
$
119,657

(Gain)\Loss on Sale of Real Estate
(38,384
)
 
(27,681
)
Ground Rent
423

 
500

Depreciation Included in Discontinued Operations
487

 
262

Other Non-Recurring Items
2,387

 
26

Recurring EBITDA
$
91,869

 
$
92,764

 
 
 
 
Net Debt (less cash & equivalents)
$
2,242,168

 
$
2,184,426

Net Debt to Adjusted EBITDA (annualized)
 6.10x

 
 5.89x

Credit Ratings
 
 
 
 
S&P
 
Moody's
Senior Debt
BBB
 
Baa2
Outlook
Stable
 
Stable

Page 8


Weingarten Realty Investors
Guidance
(in thousands, except per share amounts)



 
2013 Guidance
 
 
 
 
 
 
 
 
 
 
 
 
2013
 
2013
 
 
Previous Guidance
 
Revised Guidance
Recurring FFO Per Diluted Share
 
$1.89 - $1.93
 
$1.93 - $1.95
 
 
 
 
 
 
 
 
 
 
Portfolio Activity ($ in millions)
 
 
 
 
Acquisitions
 
$100 - $150
 
$175 - $200
New Development
 
$15 - $50
 
$15 - $50
 
 
 
 
 
  Total
 
$115 - $200
 
$190 - $250
 
 
 
 
 
Dispositions
 
$250 - $350
 
$250 - $350
 
 
 
 
 
 
 
 
 
 
Operating Information
 
 
 
 
Same Property Net Operating Income
 
+3% to +3.5%
 
+3.5% to +4%
 
 
 
 
 
Signed Occupancy
 
94% to 95%
 
94% to 95%
 
 
 
 
 
Retail Rental Growth
 
+3% to +6%
 
+3% to +6%
 
 
 
 
 
 
 
 
 
 
2014 Guidance
 
 
 
 
 
 
 
 
 
2014
 
 
 
 
Guidance
Recurring FFO Per Diluted Share
 
 
 
$1.95 - $2.01
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Denotes change to previous guidance
 
 
 
 
 

Page 9













Investment Activity





Weingarten Realty Investors
New Development Properties
As of September 30, 2013
(at pro rata share)
(in thousands, except percentages)


 
 
 
 
 
 
 
Total Square Feet
 of Building Area (1)
 
Percent Leased
 
Pro Rata Spent Year-To-Date
Pro Rata Spent Inception to Date (2)
 
Total Estimated Investment (3)
 
 
 
Completions ($)
 Year To Date
Center Name
Location
Anchors
WRI
Own %
 
 
Gross
Net
 
Net @
100%
Gross
 
 
WRI Costs
Gross Costs
 
Est. Final
ROI %
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
UNDER DEVELOPMENT
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1
Tomball Marketplace
Tomball, TX
Academy, Kohl's
100.0
%
 
 
147

62

 
66.5
%
85.9
%
 
246

14,559

 
15,440

15,440

 
 
 
 
 
Tomball Marketplace Phase 2
Tomball, TX
Ross, Marshall's
100.0
%
 
 
176

104

 
67.2
%
78.4
%
 
(413
)
15,925

 
17,734

17,734

 
 
 
 
 
Total Wholly Owned
 
 
 
 
 
323

165

 
66.9
%
81.8
%
 
$
(167
)
$
30,484

 
$
33,175

$
33,175

 
7.3
%
 
$
1,100

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2
Hilltop Village Center
Alexandria, VA
Wegman's
100.0
%
(4)
 
265

265

 
73.0
%
73.0
%
 
9,390

37,029

 
64,491

64,491

 
 
 
 
 
Total Joint Venture
 
 
 
 
 
265

265

 
73.0
%
73.0
%
 
$
9,390

$
37,029

 
$
64,491

$
64,491

 
8.3
%
 
$

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total 2 Properties Under Development (exclusive of phasing)
 
 
588

430

 
70.7
%
77.8
%
 
$
9,223

$
67,513

 
$
97,665

$
97,665

 
7.9
%
 
$
1,100

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Spent Inception to Date (from above)
 
 
$
67,513

$
67,513

 
 
 
 
 
 
 
 
 
 
 
Additional Capital Needed to Complete
 
 
31,549

31,549

 
 
 
 
 
 
 
 
 
 
 
Reimbursement of Future Property Sales
 
(1,397
)
(1,397
)
 
 
 
 
 
 
 
 
 
 
 
Total Estimated Investment
 
 
$
97,665

$
97,665

 
 
 
 
 
QTR Completed
YTD Completed
4Q'13E
1Q'14E
2Q'14E
3Q'14E
4Q'14E
Remaining Balance
 
Completion ($)
$702
$1,100
$400 - $2,400
$0 - $1,500
$1,700 - $6,700
$0 - $3,500
 $29,300 - $34,300
$28,300 - $33,300
 
Weighted Return (%)
7.4%
7.3%
7.0% - 7.5%
0.0% - 0.3%
7.0% - 7.5%
7.0% - 7.5%
 8.0% - 8.5%
7.9% - 8.4%
 
Net Operating Income
$52
$80
$30 - $180
$0 - $5
$120 - $505
$0 - $265
 $2,400 - $2,900
$2,200 - $2,800
 



# Denotes anchors that are not owned by Weingarten.
(1)
Total gross building area reflects the entire shopping center under development. Includes square footage for any ownership by our partners and buildings owned by others.
(2)
Net of non-cash impairment charges if applicable.
(3)
Net of anticipated proceeds from land sales.
(4)
Hilltop Village Center: 50/50 Joint Venture with 100% funding by WRI.


Note:
Phased properties presented on this schedule are broken out but are counted as one in the property schedule.


Page 11


Weingarten Realty Investors
Land Held for Development
As of September 30, 2013
(in thousands, except acres and percentages)

 
 
Ownership Interest
 
Gross Acres
 
Investment (1)
Location
 
 
 
100%
 
Pro Rata
 
 
 
 
 
 
 
 
 
New Development Phased Projects
 
 
 
 
 
 
 
 
US Hwy. 1 and Caveness Farms Road, Wake Forest - Raleigh, NC
 
100.0
%
 
37.5

 
 
 
 
Highway 17 and Highway 210, Surf City, NC
 
100.0
%
 
46.5

 
 
 
 
FM 2920 and Future 249, Tomball - Houston, TX
 
100.0
%
 
10.6

 
 
 
 
Decatur at 215 - Las Vegas, NV
 
100.0
%
 
14.7

 
 
 
 
Hwy. 85 & Hwy. 285, Sheridan, CO
 
50.0
%
 
18.2

 
 
 
 
US 77 & FM 802, Brownsville, TX
 
100.0
%
 
21.0

 
 
 
 
US Hwy. 17 & US Hwy. 74/76, Leland, NC
 
100.0
%
 
12.6

 
 
 
 
Bear Valley Road at Jess Ranch Parkway (III), Apple Valley, CA
 
50.0
%
 
10.9

 
 
 
 
South 300 West & West Paxton Avenue, Salt Lake City, UT
 
31.8
%
 
4.6

 
 
 
 
State Hwy. 95 & Bullhead Pkwy., Bullhead City, AZ
 
100.0
%
 
7.2

 
 
 
 
Belle Terre Pkwy. & State Rd. 100, Palm Coast, FL
 
100.0
%
 
6.7

 
 
 
 
SR 207 & Rolling Hills Drive, St. Augustine, FL
 
70.0
%
 
5.2

 
 
 
 
29th St. at Nolana Loop, McAllen, TX
 
50.0
%
 
3.8

 
 
 
 
Bear Valley Road at Jess Ranch Parkway (II), Apple Valley, CA
 
50.0
%
 
3.2

 
 
 
 
Southern Ave. & Signal Butte Rd., Mesa, AZ
 
100.0
%
 
1.5

 
 
 
 
SEC Poplar Ave. at I-240, Memphis, TN
 
100.0
%
 
1.2

 
 
 
 
Total New Development Phased Projects
 
 
 
205.3

 
$
50,927

 
$
42,972

Other Raw Land
 
 
 
 
 
 
 
 
FM 1957 (Potranco Rd.) and FM 211, San Antonio, TX
 
50.0
%
 
198.7

 
 
 
 
South Fulton Parkway and SH 92, Union City - Atlanta, GA
 
100.0
%
 
81.6

 
 
 
 
Shary Road and US Hwy. 83, Mission, TX
 
50.0
%
 
35.8

 
 
 
 
SH 281 & Wilderness Oaks, San Antonio, TX
 
100.0
%
 
29.2

 
 
 
 
Creedmoor (Highway 50) and Crabtree Valley Avenue, Raleigh, NC
 
100.0
%
 
11.7

 
 
 
 
Lon Adams Rd. at Tangerine Farms Rd. - Marana, AZ
 
100.0
%
 
9.7

 
 
 
 
Rock Prairie Rd. at Hwy. 6, College Station, TX
 
100.0
%
 
9.0

 
 
 
 
SH 151 & Ingram Rd., San Antonio, TX
 
66.7
%
 
5.8

 
 
 
 
Young Pines and Curry Ford Rd., Orlando, FL
 
100.0
%
 
3.0

 
 
 
 
Leslie Rd. at Bandera Rd., Helotes, TX
 
100.0
%
 
1.7

 
 
 
 
Other
 
100.0
%
 
36.8

 
 
 
 
Total Raw Land
 
 
 
423.1

 
$
78,228

 
$
58,055

 
 
 
 
 
 
 
 
 
Total Land Held For Development Properties
 
 
 
628.4

 
$
129,155

 
$
101,027

(1)
Net of impairment and valuation adjustments.
Notes:
Land costs account for $102.7 million of total investment at 100%, $77.8 million at pro rata share.
Categorization based upon proximity to development property and does not indicate future development pipeline.


Page 12


Weingarten Realty Investors
Disposition and Acquisition Summary
For the Period Ended September 30, 2013
(at pro rata share)
(in thousands)
Center
City/State
Sq. Ft.
 at 100%
Date
 Sold
 
Center
City/State
Sq. Ft.
 at 100%
Date
 Acquired
Dispositions
 
 
 
 
Acquisitions
 
 
 
1st Quarter
 
 
 
 
1st Quarter
 
 
 
Westland Terrace
Orlando, FL
78

01/29/13

 
Sea Ranch Centre
Sea Ranch Lakes, FL
99

03/06/13

Palm Lakes Plaza *
Margate, FL
114

01/30/13

 
 
 
 
 
Crowfarn Drive *
Memphis, TN
159

02/21/13

 
 
 
 
 
Outland Business Center *
Memphis, TN
410

02/21/13

 
 
 
 
 
Kendall Corners *
Miami, FL
97

03/22/13

 
 
 
 
 
 
 
 
 
 
 
 
 
 
2nd Quarter
 
 
 
 
2nd Quarter
 
 
 
Edgebrook
Houston, TX
78

04/11/13

 
Southgate Ground Lease
Lake Charles, LA

04/01/13

Westwood - Pad
San Antonio, TX

05/01/13

 
Queen Anne Marketplace *
Seattle, WA
66

05/21/13

Houston Cold Storage
Houston, TX
129

05/10/13

 
Independence Plaza
Laredo, TX
324

06/11/13

Tully Corners *
San Jose, TX
116

05/15/13

 
 
 
 
 
Shoppes Paradise Key *
Destin, FL
272

05/15/13

 
 
 
 
 
Round Rock - Pad
Round Rock, TX

05/23/13

 
 
 
 
 
Sheldon Forest I & II
Channelview, TX
97

06/05/13

 
 
 
 
 
Orchard Green
Houston, TX
75

06/05/13

 
 
 
 
 
North Oaks
Houston, TX
405

06/05/13

 
 
 
 
 
Mission Center
Las Vegas, NV
152

06/18/13

 
 
 
 
 
Summer Center
Memphis, TN
139

06/19/13

 
 
 
 
 
Southside
Orlando, FL
160

06/24/13

 
 
 
 
 
Pavillions at San Mateo
Albuquerque, NM
209

06/27/13

 
 
 
 
 
Tomball Marketplace - Pad
Tomball, TX

06/28/13

 
 
 
 
 
 
 
 
 
 
 
 
 
 
3rd Quarter
 
 
 
 
3rd Quarter
 
 
 
Killeen Marketplace
Killeen, TX
115

07/17/13

 
None





Sunset Shopping Center
Suisun City, CA
85

08/06/13

 






Ravenstone Commons
Durham, NC
61

08/15/13

 






Wyoming Mall
Albuquerque, NM
64

08/22/13

 






River Pointe Subdivision - Pad
Montgomery County, TX

08/29/13

 






Steele Creek Crossing
Charlotte, NC
77

09/12/13

 






Westwood Shopping Center - Pad
San Antonio, TX

09/16/13

 






Cole Park Plaza
Chapel Hill, NC
78

09/19/13

 






Montgomery Plaza
Conroe, TX
310

09/23/13

 






Horne Street Market
Fort Worth, TX
42

09/27/13

 






 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted
 
 
 
 
 
 
 
Sales
Sales
 
 
 
Purchase
 
 
 
Proceeds
Cap
 
 
 
Price
Yield
Total Dispositions
 
$
239,676

7.66
%
 
Total Acquisitions
 
$
89,288

5.80
%
 
 
 
 
 
 
 
 
 
* Unconsolidated real estate joint venture activity
 
 
 
 
 
 
 


Page 13


Weingarten Realty Investors
Capital Expenditures
(at pro rata share)
(in thousands)

 
Acquisitions
 
New
 Development
 
Major
 Repairs
 
Tenant
 Finish
 
Remodels/
 Existing
 Development (1)
 
Outside
 Broker Fees
 
All
 Other
 
Total
Quarter Ended 3/31/2013
$
18,000

 
$
3,455

 
$
894

 
$
6,862

 
$
1,631

 
$
1,127

 
$
784

 
$
32,753

Quarter Ended 6/30/2013
71,288

 
2,804

 
1,976

 
7,811

 
2,079

 
883

 
339

 
87,180

Quarter Ended 9/30/2013

 
2,964

 
3,874

 
10,417

 
3,266

 
845

 
750

 
22,116

Nine Months Ended 9/30/2013 (2)
$
89,288

 
$
9,223

 
$
6,744

 
$
25,090

 
$
6,976

 
$
2,855

 
$
1,873

 
$
142,049

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year Ended 12/31/2012
$
235,267

 
$
30,193

 
$
12,040

 
$
40,689

 
$
12,653

 
$
4,228

 
$
1,683

 
$
336,753

Year Ended 12/31/2011
$
68,900

 
$
35,225

 
$
11,646

 
$
44,351

 
$
15,578

 
$
6,637

 
$
606

 
$
182,943

Year Ended 12/31/2010
$
193,131

 
$
16,710

 
$
13,786

 
$
29,556

 
$
14,608

 
$
5,343

 
$
1,337

 
$
274,471

(1)
Primarily incremental investment on properties formerly classified as new development.
(2)
Internal Leasing Fees are approximately $10.1 million for the nine months ended September 30, 2013.

Page 14












Summary of Debt




Weingarten Realty Investors
Debt Information
(in thousands, except percentages)
 
September 30,
2013
 
3rd Quarter
 Weighted
 Average Rate (1)
 
December 31,
2012
 
4th Quarter
 Weighted
 Average Rate (1)
Outstanding Balance Summary
 
 
 
 
 
 
 
Mortgage Debt
$
779,457

 
6.03
%
 
$
920,963

 
6.15
%
3.5% Notes due 2023
298,647

 
3.50
%
 

 


3.375% Notes due 2022
298,944

 
3.38
%
 
298,870

 
3.38
%
8.1% Notes due 2019
100,000

 
8.10
%
 
100,000

 
8.10
%
Unsecured Notes Payable (MTN)
606,315

 
5.22
%
 
721,876

 
5.45
%
Revolving Credit Agreements (2)
114,500

 
0.99
%
 
66,000

 
1.32
%
Industrial Revenue Bonds
960

 
2.36
%
 
1,246

 
2.51
%
Obligations under Capital Leases
21,000

 
7.84
%
 
21,000

 
7.74
%
Subtotal Consolidated Debt
2,219,823

 
4.84
%
 
2,129,955

 
5.34
%
Debt Service Guarantee Liability (3)
74,075

 
 
 
74,075

 
 
Total Consolidated Debt - As Reported
2,293,898

 
4.84
%
 
2,204,030

 
5.34
%
Less: Noncontrolling Interests and Other Adjustments
(210,388
)
 
 
 
(261,950
)
 
 
Plus: WRI Share of Unconsolidated Joint Ventures
178,391

 
 
 
177,703

 
 
Total Debt - Pro rata Share
$
2,261,901

 
4.79
%
 
$
2,119,783

 
5.31
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Debt
 Balance
 
3rd Quarter
Weighted
Average Rate (1)
 
% of Total
 
Weighted
Average
Remaining
 Life (yrs)
Fixed vs. Variable Rate Debt (at Pro rata Share)
(includes the effect of interest rate swaps)
 
 
 
 
 
 
 
As of September 30, 2013
 
 
 
 
 
 
 
Fixed-rate debt
$
1,973,385

 
5.03
%
 
87.2
%
 
5.28

Variable-rate debt
288,516

 
2.52
%
 
12.8
%
 
2.65

Total
$
2,261,901

 
4.79
%
 
100.0
%
 
4.94

 
 
 
 
 
 
 
 
As of December 31, 2012
 
 
 
 
 
 
 
Fixed-rate debt
$
1,912,230

 
5.83
%
 
90.2
%
 
 
Variable-rate debt
207,553

 
1.95
%
 
9.8
%
 
 
Total
$
2,119,783

 
5.31
%
 
100.0
%
 
 
 
 
 
 
 
 
 
 
Secured vs. Unsecured Debt (at Pro rata Share)
 
 
 
 
 
 
 
As of September 30, 2013
 
 
 
 
 
 
 
Secured Debt
$
799,641

 
5.92
%
 
35.4
%
 
3.81

Unsecured Debt
1,462,260

 
4.15
%
 
64.6
%
 
5.56

Total
$
2,261,901

 
4.79
%
 
100.0
%
 
4.94

 
 
 
 
 
 
 
 
As of December 31, 2012
 
 
 
 
 
 
 
Secured Debt
$
886,078

 
6.23
%
 
41.8
%
 
 
Unsecured Debt
1,233,705

 
4.42
%
 
58.2
%
 
 
Total
$
2,119,783

 
5.31
%
 
100.0
%
 
 
 
 
 
 
 
 
 
 
 
As
 Reported
 
Pro rata
 Share
 
 
 
 
Weighted Average Interest Rates (1)
 
 
 
 
 
 
 
Three months ended 9/30/13
4.84
%
 
4.79
%
 
 
 
 
Nine months ended 9/30/13
4.98
%
 
4.95
%
 
 
 
 
Nine months ended 09/30/12
5.16
%
 
5.15
%
 
 
 
 
Three months ended 12/31/12
5.34
%
 
5.31
%
 
 
 
 
Twelve months ended 12/31/12
5.21
%
 
5.18
%
 
 
 
 
(1)
Weighted average interest rates exclude the effects of ASC 805 “Business Combinations”, revolver facility fee, and other loan costs related to financing.
(2)
Weighted average revolving interest rate excludes the effect of the facility fee of 25 and 20 basis points in 2012 and 2103, respectively, on the total
commitment paid in arrears. The weighted average revolving interest rate with the facility fee is 2.21% and 3.93% for the third quarter 2013 and the fourth quarter 2012, respectively.
(3)
Debt service guarantee liability represents bonds issued in association with a guarantee in connection with a project in Denver, Colorado.

Page 16


Weingarten Realty Investors
Schedule of Maturities
As of September 30, 2013
(in thousands, except percentages)




 
As Reported
 
Pro rata Share
 
Maturities
 
Weighted
 Average Rate (4)
 
Maturities
 
Weighted
 Average Rate (4)
 
Floating Rate
 
Fixed Rate
 
Secured
 
Unsecured
2013 (1)
$
65,727

 
5.07%
 
$
66,281

 
5.07%
 
$
1,176

 
$
65,105

 
$
6,281

 
$
60,000

2014
468,858

 
5.60%
 
421,231

 
5.50%
 
881

 
420,350

 
106,231

 
315,000

2015
275,998

 
5.93%
 
241,464

 
5.74%
 
1,835

 
239,629

 
151,464

 
90,000

2016
249,283

 
6.19%
 
278,214

 
5.96%
 
44,180

 
234,034

 
203,214

 
75,000

2017
141,864

 
6.79%
 
164,115

 
6.40%
 

 
164,115

 
139,115

 
25,000

2018
64,157

 
6.63%
 
25,219

 
6.09%
 

 
25,219

 
15,649

 
9,570

2019 (2)
153,380

 
7.65%
 
157,007

 
7.26%
 

 
157,007

 
57,007

 
100,000

2020
3,342

 
6.34%
 
58,929

 
5.17%
 

 
58,929

 
58,929

 


2021
2,278

 
6.27%
 
10,435

 
5.83%
 

 
10,435

 
10,435

 


2022
304,815

 
3.42%
 
305,732

 
3.43%
 

 
305,732

 
5,732

 
300,000

Thereafter
348,264

 
3.91%
 
350,168

 
3.92%
 

 
350,168

 
18,448

 
331,720

Subtotal
2,077,966

 
 
 
2,078,795

 
 
 
48,072

 
2,030,723

 
772,505

 
1,306,290

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revolving Credit Agreements
114,500

 
1.06%
 
114,500

 
1.06%
 
114,500

 
 
 
 
 
114,500

Other (3)
101,432

 
 
 
68,606

 
 
 
8,883

 
59,723

 
27,136

 
41,470

Swap Maturities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2014
 
 
 
 
 
 
 
 
50,000

 
(50,000
)
 
 
 
 
2017
 
 
 
 
 
 
 
 
67,061

 
(67,061
)
 
 
 
 
Total
$
2,293,898

 
4.98%
 
$
2,261,901

 
4.95%
 
$
288,516

 
$
1,973,385

 
$
799,641

 
$
1,462,260

(1)
Includes $1.0 million of amortizing industrial revenue bonds with a final maturity date of 2015 that are currently callable by the lender.
(2)
Includes $100.0 million of 8.1% bonds maturing in 2019 which may be redeemed at our option on or after September 15, 2014.
(3)
Other includes capital leases, ASC 805 “Business Combinations” adjustment, debt service guarantee liability, market value of swaps and discounts on notes.
The debt service guarantee liability represents bonds issued in association with a guarantee in connection with a project in Denver, Colorado.
(4)
Weighted average interest rates exclude the effects of ASC 805 “Business Combinations”, revolver facility fee paid quarterly on total commitment
in arrears, and other loan costs related to financing.



Page 17














Joint Ventures




Weingarten Realty Investors
Unconsolidated Joint Venture Financial Statements at 100%
(in thousands)


 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
Condensed Statements of Income
2013
 
2012
 
2013
 
2012
 
 
 
 
 
 
 
 
Revenues:
 
 
 
 
 
 
 
Base minimum rent, net
$
30,826

 
$
37,815

 
$
94,794

 
$
114,463

Straight line rent
526

 
880

 
1,323

 
2,153

Over/Under-market rentals, net
132

 
292

 
506

 
1,065

Percentage rent
293

 
224

 
688

 
708

Tenant reimbursements
8,564

 
10,037

 
25,298

 
29,296

Other income
463

 
478

 
1,455

 
1,914

Total
40,804

 
49,726

 
124,064

 
149,599

 
 
 
 
 
 
 
 
Expenses:
 
 
 
 
 
 
 
Depreciation and amortization
11,343

 
15,071

 
34,922

 
46,688

Interest, net
7,131

 
8,956

 
22,091

 
27,003

Operating
7,298

 
9,069

 
20,859

 
26,265

Real estate taxes, net
4,739

 
6,322

 
14,335

 
18,719

General and administrative
187

 
420

 
637

 
1,006

Provision for income taxes
63

 
81

 
211

 
249

Impairment loss
59

 
283

 
1,887

 
96,781

Total
30,820

 
40,202

 
94,942

 
216,711

 
 
 
 
 
 
 
 
Gain on sale of property
122

 
2,177

 
1,324

 
2,423

 
 
 
 
 
 
 
 
Net income (loss)
$
10,106

 
$
11,701

 
$
30,446

 
$
(64,689
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Condensed Balance Sheets
 
 
 
 
 
 
 
 
 
 
 
 
September 30,
 
December 31,
 
 
 
 
 
2013
 
2012
ASSETS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Property
 
 
 
 
$
1,507,115

 
$
1,631,694

Accumulated depreciation
 
 
 
 
(284,101
)
 
(273,591
)
Property, net
 
 
 
 
1,223,014

 
1,358,103

 
 
 
 
 
 
 
 
Other assets, net
 
 
 
 
159,105

 
161,344

 
 
 
 
 
 
 
 
Total
 
 
 
 
$
1,382,119

 
$
1,519,447

LIABILITIES AND SHAREHOLDERS' EQUITY
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Debt, net
 
 
 
 
$
467,908

 
$
468,841

Amounts payable to Weingarten Realty Investors and Affiliates
 
 
 
102,390

 
109,931

Other liabilities, net
 
 
 
 
35,083

 
34,157

Total
 
 
 
 
605,381

 
612,929

 
 
 
 
 
 
 
 
Accumulated equity
 
 
 
 
776,738

 
906,518

 
 
 
 
 
 
 
 
Total
 
 
 
 
$
1,382,119

 
$
1,519,447



Page 19


Weingarten Realty Investors
Unconsolidated Joint Venture Financial Statements at Pro rata Share
(in thousands)

 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
Condensed Statements of Income
2013
 
2012
 
2013
 
2012
Revenues:
 
 
 
 
 
 
 
Base minimum rent, net
$
11,907

 
$
12,923

 
$
35,652

 
$
38,855

Straight line rent
295

 
326

 
704

 
850

Over/Under-market rentals, net
(26
)
 
(10
)
 
(117
)
 
(48
)
Percentage rent
117

 
80

 
270

 
231

Tenant reimbursements
3,280

 
3,516

 
9,412

 
10,240

Other income
184

 
190

 
597

 
658

Total
15,757

 
17,025

 
46,518

 
50,786

 
 
 
 
 
 
 
 
Expenses:
 
 
 
 
 
 
 
Depreciation and amortization
4,443

 
5,254

 
13,370

 
16,261

Interest, net
2,778

 
3,276

 
8,607

 
9,881

Operating
2,747

 
2,940

 
7,837

 
8,563

Real estate taxes, net
1,837

 
2,173

 
5,399

 
6,451

General and administrative
65

 
116

 
213

 
280

Provision for income taxes
30

 
34

 
109

 
115

Impairment loss
29

 
57

 
395

 
19,946

Total
11,929

 
13,850

 
35,930

 
61,497

 
 
 
 
 
 
 
 
Gain on sale of property
24

 
435

 
267

 
558

 
 
 
 
 
 
 
 
Net income (loss)
$
3,852

 
$
3,610

 
$
10,855

 
$
(10,153
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Condensed Balance Sheets
 
 
 
 
 
 
 
 
 
 
 
 
September 30,
 
December 31,
 
 
 
 
 
2013
 
2012
ASSETS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Property
 
 
 
 
$
534,003

 
$
538,629

Accumulated depreciation
 
 
 
 
(111,046
)
 
(102,704
)
Property, net
 
 
 
 
422,957

 
435,925

Notes receivable from real estate joint ventures and partnerships
 
 
 
 
5,098

 
5,226

Unamortized debt and lease costs, net
 
 
 
 
21,576

 
22,206

Accrued rent and accounts receivable (net of allowance for doubtful accounts
 of $276 in 2013 and $522 in 2012)
 
 
 
 
18,015

 
18,335

Cash and cash equivalents
 
 
 
 
16,379

 
12,915

Restricted deposits and mortgage escrows
 
 
 
 
900

 
2,605

Notes receivable and mortgage bonds, net
 
 
 
 
247

 
272

Out-of-market rentals, net
 
 
 
 
1,845

 
2,212

Other assets, net
 
 
 
 
1,977

 
2,037

Total
 
 
 
 
$
488,994

 
$
501,733

 
 
 
 
 
 
 
 
LIABILITIES AND SHAREHOLDERS' EQUITY
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Debt, net
 
 
 
 
$
179,253

 
$
178,683

Amounts payable to Weingarten Realty Investors and Affiliates
 
 
 
 
47,890

 
50,106

Accounts payable and accrued expenses
 
 
 
 
7,148

 
5,917

Deferred revenue
 
 
 
 
1,024

 
856

Out-of-market rentals, net
 
 
 
 
3,150

 
3,179

Interest rate derivative
 
 
 
 
495

 
760

Other liabilities, net
 
 
 
 
413

 
921

Total
 
 
 
 
239,373

 
240,422

 
 
 
 
 
 
 
 
Accumulated equity
 
 
 
 
249,621

 
261,311

 
 
 
 
 
 
 
 
Total
 
 
 
 
$
488,994

 
$
501,733

Notes:
The Consolidated Financial Statements at pro rata share include only the real estate operations of joint ventures and partnerships at WRI’s ownership percentages. Pro rata financial information is not, and is not intended to be, a presentation in accordance with generally accepted accounting principles.

Page 20


Weingarten Realty Investors
Investments in Unconsolidated Real Estate Joint Ventures & Partnerships
September 30, 2013
(in thousands, except number of properties and percentages)


 
 
 
 
 
 
 
 
 
 
Weingarten Realty
Joint Venture Partner
 
Number of
 Operating
Properties (1)(2)
 
Total GLA
 
Total Assets
 
Total Debt
 
Ownership
 Interest
 
Share of Debt
 
Investment
 Balance
 
Equity in Earnings
 (Losses) of
 Unconsolidated JVs
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TIAA Florida Retail LLC
 
4
 
832

 
$
209,714

 
$

 
20.0%
 
$

 
$
41,485

 
$
1,228

Perlmutter SRP, LLC
 
8
 
817

 
128,941

 
101,962

 
25.0%
 
25,490

 
4,332

 
84

Collins
 
8
 
1,165

 
142,706

 
25,186

 
50.0%
 
12,593

 
52,032

 
2,422

AEW - Institutional Client
 
6
 
436

 
122,586

 
44,540

 
20.0%
 
8,908

 
14,881

 
511

BIT Retail
 
3
 
716

 
151,997

 

 
20.0%
 

 
29,852

 
782

Jamestown
 
6
 
1,350

 
146,032

 
84,575

 
20.0%
 
16,915

 
11,502

 
1,013

Fidelis Realty Partners
 
1
 
491

 
139,681

 
84,141

 
57.8%
 
48,592

 
30,574

 
1,499

Sleiman Enterprises
 
3
 
237

 
27,797

 
14,548

 
50.0%
 
7,274

 
7,746

 
442

Bouwinvest
 
1
 
66

 
34,085

 

 
51.0%
 

 
16,665

 
243

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other
 
18
 
2,751

 
278,578

 
112,957

 
52.7%
 
59,481

 
72,134

 
6,245

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
58
 
8,861

 
$
1,382,119

 
$
467,908

 
37.8%
 
$
179,253

 
$
281,203

 
$
14,467

 
 
 
Joint Venture Description
 
 
 
 
 
TIAA Florida Retail LLC
 
Joint venture with an institutional partner, TIAA-CREF Global Real Estate
Perlmutter SRP, LLC
 
Retail joint venture with an institutional partner through Perlmutter Investment Company
Collins
 
Primarily a development joint venture in the Texas Rio Grande Valley
AEW - Institutional Client
 
Joint venture with an institutional partner through AEW Capital Management
BIT Retail
 
Retail joint venture with Mercantile Real Estate Advisors and its client, the AFL-CIO Building Investment Trust
Jamestown
 
Retail joint venture in Florida
Fidelis Realty Partners
 
Retail joint venture in Texas
Sleiman Enterprises
 
Retail joint venture in Florida
Bouwinvest
 
Retail joint venture with West Coast focus
 
 
 
 
 
 
(1) Excludes land held for development.
(2) Excludes additional consolidated joint ventures such as Hines Retail REIT Holdings and AEW Capital Management.


Page 21


Weingarten Realty Investors
Unconsolidated Joint Venture Mortgage Debt Information
As of September 30, 2013
(in thousands, except number of properties, percentages and term)

Balance Summary
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
At 100%
 
 
Joint Venture Partner
 
# of Mortgaged
 Properties
 
Mortgage
Balance (1)
 
Average Interest
Rate (2)
 
Average
Remaining
Term (yrs)
 
 
 
 
 
 
 
 
 
Perlmutter SRP, LLC
 
7
 
$
101,962

 
5.7%
 
2.3

Collins
 
2
 
25,186

 
6.0%
 
11.4

AEW - Institutional Client
 
4
 
44,540

 
5.4%
 
1.2

Jamestown
 
6
 
84,575

 
5.5%
 
4.6

Fidelis Realty Partners
 
1
 
84,141

 
4.0%
 
7.1

Sleiman Enterprises
 
2
 
14,548

 
5.0%
 
7.7

Other
 
6
 
111,759

 
5.6%
 
3.7

 
 
 
 
 
 
 
 
 
Total
 
28
 
$
466,710

 
5.3%
 
4.1

 
 
 
 
 
 
 
 
 

Schedule of Maturities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
At 100%
 
At WRI Share
 
 
Maturities (1)
 
Weighted
Average Rate (2)
 
Maturities (1)
 
Weighted
Average Rate (2)
 
 
 
 
 
 
 
 
 
2013
 
$
2,921

 
4.9%
 
$
1,031

 
4.7%
2014
 
106,373

 
5.0%
 
24,339

 
4.7%
2015
 
43,869

 
4.6%
 
11,691

 
4.5%
2016
 
122,351

 
4.6%
 
38,252

 
4.5%
2017
 
56,810

 
5.0%
 
26,076

 
5.0%
2018
 
6,253

 
4.9%
 
3,450

 
4.9%
2019
 
6,575

 
4.9%
 
3,628

 
4.9%
2020
 
93,148

 
4.8%
 
55,586

 
4.8%
2021
 
16,049

 
5.3%
 
8,157

 
5.3%
2022
 
1,833

 
5.9%
 
916

 
5.9%
Thereafter
 
10,528

 
6.1%
 
5,265

 
6.1%
Total
 
$
466,710

 
 
 
$
178,391

 
 
(1)
Excludes non-cash debt related items.
(2)
Excludes additional consolidated joint ventures such as Hines Retail REIT Holdings and AEW Capital Management.
Note:
All mortgages are fixed rate except for two included in “other”, which has a variable rate mortgage ($2.5 million and $25.4 million at 100%) and mature in 2015 and 2016, respectively.


Page 22













Portfolio Summary




Weingarten Realty Investors
Tenant Diversification by Percent of Rental Revenues
as of September 30, 2013
(at pro rata share)
(in thousands, except percentages and # of units)

Rank
 
Tenant Name (1)(2)
 
Credit Ranking
 (S&P / Moody's)
 
# of
 Units
 
% of
 Total
 Revenue
 
Total
 SF
 (in 000's)
 
 
 
 
 
 
 
 
 
 
 
1
 
T.J.X. Companies, Inc.
 
A/A3
 
40

 
2.39
%
 
931

2
 
The Kroger Co. (3)
 
BBB/Baa2
 
24

 
2.26
%
 
1,186

3
 
Ross Stores, Inc.
 
A-/N/A
 
36

 
2.03
%
 
776

4
 
H-E-B
 
N/A/N/A
 
9

 
1.54
%
 
555

5
 
Safeway, Inc.
 
BBB/Baa3
 
18

 
1.46
%
 
754

6
 
Petsmart, Inc.
 
BB+/N/A
 
20

 
1.30
%
 
371

7
 
Bed Bath & Beyond, Inc.
 
BBB+/N/A
 
24

 
1.26
%
 
496

8
 
The Sports Authority
 
B-/B3
 
10

 
1.14
%
 
345

9
 
Best Buy, Inc.
 
BB/Baa2
 
11

 
1.07
%
 
318

10
 
Whole Foods Market, Inc.
 
BBB-/N/A
 
7

 
0.98
%
 
261

11
 
Harris Teeter, Inc. (3)
 
N/A/N/A
 
9

 
0.96
%
 
405

12
 
Dollar Tree Stores, Inc.
 
N/A/N/A
 
41

 
0.94
%
 
363

13
 
Office Depot, Inc. (3)
 
B-/B2
 
22

 
0.92
%
 
369

14
 
Home Depot, Inc.
 
A-/A3
 
4

 
0.83
%
 
427

15
 
Gap, Inc.
 
BBB-/Baa3
 
15

 
0.82
%
 
189

16
 
Petco Animal Supplies, Inc.
 
B/B3
 
19

 
0.78
%
 
210

17
 
Publix Super Markets, Inc.
 
N/A/N/A
 
18

 
0.72
%
 
335

18
 
Raley's
 
N/A/N/A
 
6

 
0.69
%
 
332

19
 
24 Hour Fitness Inc.
 
B/B3
 
6

 
0.63
%
 
136

20
 
Wal-Mart Stores, Inc.
 
AA/Aa2
 
5

 
0.61
%
 
443

21
 
Hobby Lobby Stores, Inc.
 
N/A/N/A
 
5

 
0.61
%
 
305

22
 
Office Max Inc. (3)
 
N/A/B1
 
10

 
0.57
%
 
215

23
 
Staples, Inc.
 
BBB/Baa2
 
9

 
0.53
%
 
191

24
 
Charming Shoppes
 
N/A/N/A
 
29

 
0.52
%
 
141

25
 
Subway Real Estate (4)
 
N/A/N/A
 
85

 
0.50
%
 
91

 
 
 
 
 
 
 
 
 
 
 
 
 
Grand Total
 
 
 
482

 
26.07
%
 
10,147

Notes:
 
 
 
 
 
 
 
 
 
 
(1
)
Tenant Names:
DBA Names:
 
 
 
 
 
 
 
 
The Kroger Co.
Kroger, Smith's Food, Ralphs, Fry's Food, King Soopers
 
 
 
 
T.J.X. Companies, Inc.
T.J. Maxx, Marshalls, Home Goods
 
 
 
 
Safeway, Inc.
Safeway, Randalls, Von's
 
 
 
 
Bed Bath & Beyond, Inc.
Bed Bath & Beyond, Cost Plus, buybuy BABY
 
 
 
 
Dollar Tree Stores, Inc.
Dollar Tree, Greenbacks
 
 
 
 
Gap, Inc.
Gap, Old Navy, Banana Republic
 
 
 
 
Raley's
Raley's, Bel Air Markets
 
 
 
(2
)
Target owns and occupies 30 units not included above.
 
 
 
 
 
 
 
(3
)
Impact of Pending Transactions
 
# of
 
% of Total
 
Total SF

 


 
Units
 
Revenue
 
(in 000's)

 
 
Kroger and Harris Teeter
 
 
33
 
3.22%
 
1,591

 
 
Office Depot and Office Max
 
 
32
 
1.48%
 
584

 
(4
)
Subway includes franchised locations
 
 
 
 
 
 
 

Page 24


Weingarten Realty Investors
Portfolio Operating Information
(at pro rata share)
(in thousands, except percentages and leases)

 
 
 
 
 
 
 
 
 
 


 


Leasing Activity / Rent Growth
Signed Leases
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Comparable:
 
Number of
 Leases
Square Feet
New
 Rent
 $/SF

Prior
 Rent
 $/SF

TI's $/SF

Cash Change
 in Base Rent
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
All Leases
 
 
 
 
 
 
 
 
 
 
 
 
Quarter Ended September 30, 2013
 
268

742

$
18.37

$
17.24

$
1.98

6.5
%
 
 
 
Quarter Ended June 30, 2013(1)
 
306

1,077

15.60

14.45

5.88

8.0
%
 
 
 
Quarter Ended March 31, 2013
 
306

1,140

15.86

15.26

0.93

3.9
%
 
 
 
Quarter Ended December 31, 2012
 
263

811

16.12

15.05

2.43

7.1
%
 
 
 
Rolling 12 months
 
 
1,143

3,771

$
16.34

$
15.37

$
2.88

6.3
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
New Leases
 
 
 
 
 
 
 
 
 
 
 
Quarter Ended September 30, 2013
 
47

101

$
22.55

$
20.61

$
13.02

9.4
%
 
 
 
Quarter Ended June 30, 2013(1)
 
85

280

19.71

16.52

22.11

19.3
%
 
 
 
Quarter Ended March 31, 2013
 
67

146

19.67

18.94

6.79

3.9
%
 
 
 
Quarter Ended December 31, 2012
 
61

122

18.04

18.04

11.87

0.0
%
 
 
 
Rolling 12 months
 
 
260

648

$
19.83

$
17.99

$
15.32

10.2
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Renewals
 
 
 
 
 
 
 
 
 
 
 
 
Quarter Ended September 30, 2013
 
221

642

$
17.71

$
16.71

$
0.25

6.0
%
 
 
 
Quarter Ended June 30, 2013
 
221

798

14.15

13.72

0.20

3.2
%
 
 
 
Quarter Ended March 31, 2013
 
239

994

15.30

14.72

0.07

3.9
%
 
 
 
Quarter Ended December 31, 2012
 
202

689

15.78

14.52

0.77

8.7
%
 
 
 
Rolling 12 months
 
 
883

3,123

$
15.61

$
14.83

$
0.29

5.3
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Comparable & Non-Comparable:
 
 
 
 
 
 
 
 
 
 
Quarter Ended September 30, 2013
 
330

970

 
 
 
 
 
 
 
Quarter Ended June 30, 2013
 
377

1,371

 
 
 
 
 
 
 
Quarter Ended March 31, 2013
 
381

1,370

 
 
 
 
 
 
 
Quarter Ended December 31, 2012
 
350

1,066

 
 
 
 
 
 
 
Rolling 12 months
 
 
1,438

4,777

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Lease
Expirations(2)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Anchor Tenants(3)
Non-Anchor Tenants
Total Tenants
Year
Square Feet
Percent of
 Total Square
 Feet
Revenue(4)
Percent of
 Total
 Revenue
Square Feet
Percent of
 Total Square
 Feet
Revenue(4)
Percent of
 Total
 Revenue
Square Feet
Percent of
 Total Square
 Feet
Revenue(4)
Percent of
 Total
 Revenue
Other(5)
94

1
%
$
1,007

1
%
152

2
%
$
3,200

1
%
246

1
%
$
4,207

1
%
2013
255

1
%
1,548

1
%
237

2
%
4,833

2
%
491

2
%
6,381

2
%
2014
1,486

8
%
13,577

7
%
1,453

15
%
30,893

14
%
2,939

11
%
44,470

11
%
2015
1,961

11
%
18,222

10
%
1,745

18
%
37,751

17
%
3,706

14
%
55,973

14
%
2016
2,121

12
%
21,948

12
%
1,775

19
%
38,732

18
%
3,896

14
%
60,680

15
%
2017
2,029

11
%
24,364

13
%
1,375

14
%
32,156

15
%
3,404

13
%
56,520

14
%
2018 - 2023
7,116

40
%
77,700

42
%
2,595

27
%
62,217

29
%
9,711

36
%
139,917

35
%

Notes:
(1)
The quarter ended June 30, 2013 includes two leases totaling 21,200 sf at Pike Center at a blended rate of $43.17 psf as compared to the prior tenant of $10.00 psf.
(2)
Reflects in-place leases as of September 30, 2013.
(3)
Anchor tenants represent any tenant at least 10,000 square feet.
(4)
Revenue only includes minimum base rent.
(5)
Leases currently under month-to-month status or in-process of renewal.

Page 25


Weingarten Realty Investors
Portfolio Operating Information (continued)
(at pro rata share)
(in thousands, except percentages)
Occupancy
 
 
 
 
 
 
 
Quarter Ended
 
 
 
 
September 30,
2013
 
June 30,
2013
 
March 31,
2013
 
December 31,
2012
 
September 30,
2012
 
 
Signed Basis
 
 
 
 
 
 
 
 
 
 
 
 
Anchor (1)
 
97.9%
 
97.7%
 
97.1%
 
97.1%
 
97.2%
 
 
Non-Anchor
 
88.7%
 
88.6%
 
88.2%
 
88.2%
 
88.3%
 
 
Total Retail
 
94.4%
 
94.3%
 
93.7%
 
93.7%
 
93.9%
 
 
Other
 
86.8%
 
86.4%
 
91.4%
 
87.2%
 
85.9%
 
 
Total Signed
 
94.4%
 
94.2%
 
93.7%
 
93.6%
 
93.6%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commenced Basis
 
 
 
 
 
 
 
 
 
 
 
 
Anchor (1)
 
95.6%
 
95.9%
 
95.1%
 
95.0%
 
95.1%
 
 
Non-Anchor
 
85.7%
 
85.2%
 
84.8%
 
85.2%
 
85.3%
 
 
Total Retail
 
91.9%
 
91.9%
 
91.2%
 
91.3%
 
91.5%
 
 
Other
 
86.4%
 
86.4%
 
91.4%
 
87.2%
 
82.8%
 
 
Total Commenced
 
91.8%
 
91.9%
 
91.2%
 
91.2%
 
91.2%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Same Property (2)
 
 
 
 
 
 
 
 
 
 
 
 
Signed Basis
 
95.0%
 
95.0%
 
94.4%
 
94.4%
 
94.5%
 
 
Commenced Basis
 
92.8%
 
92.8%
 
92.4%
 
92.3%
 
92.1%
 
 
Average Base Rents (3)
 
 
 
 
 
 
 
Quarter Ended
 
 
 
 
September 30,
2013
 
June 30,
2013
 
March 31,
2013
 
December 31,
2012
 
September 30,
2012
 
 
Commenced Basis
 
 
 
 
 
 
 
 
 
 
 
 
Anchor (1)
 
$
11.33

 
$
11.18

 
$
11.11

 
$
11.08

 
$
10.92

 
 
Non-Anchor
 
22.56

 
22.21

 
22.17

 
22.04

 
21.80

 
 
Total
 
$
15.50

 
$
15.22

 
$
15.19

 
$
15.14

 
$
14.93

 
 
Same Property Net Operating Income Growth (4)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
 
2013
 
2012
 
% Change
 
2013
 
2012
 
% Change
Revenues
 
 
 
 
 
 
 
 
 
 
 
 
Minimum Rent
 
$
93,931

 
$
91,027

 
3.2
 %
 
$
279,761

 
$
270,939

 
3.3
%
Bad Debt (net of recoveries)
 
467

 
552

 
-15.4
 %
 
891

 
427

 
108.7
%
Percentage Rent
 
996

 
1,023

 
-2.6
 %
 
2,653

 
2,509

 
5.7
%
Tenant Reimbursements
 
25,035

 
24,474

 
2.3
 %
 
73,651

 
70,417

 
4.6
%
Other
 
1,194

 
569

 
109.8
 %
 
2,268

 
1,840

 
23.3
%
 
 
$
121,623

 
$
117,645

 
3.4
 %
 
$
359,224

 
$
346,132

 
3.8
%
Expenses
 
 
 
 
 
 
 
 
 
 
 
 
Property Operating Expenses
 
$
20,215

 
$
19,948

 
1.3
 %
 
$
59,283

 
$
57,782

 
2.6
%
Real Estate Taxes
 
13,363

 
13,578

 
-1.6
 %
 
39,752

 
39,284

 
1.2
%
 
 
$
33,578

 
$
33,526

 
0.2
 %
 
$
99,035

 
$
97,066

 
2.0
%
Net Operating Income
 
$
88,045

 
$
84,119

 
4.7
 %
 
$
260,189

 
$
249,066

 
4.5
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Notes:
 
 
 
 
 
 
 
 
 
 
 
 
(1) Anchor tenants represent any tenant at least 10,000 square feet.
 
 
 
 
 
 
(2) Same Property Occupancy includes operating centers that have been owned for the same comparable time duration.
 
 
    Same Property excludes any new development, redevelopment, and any acquired or sold centers during the same time duration.
(3) Average Base rent per Leased SF excludes ground leases.
 
 
 
 
 
 
(4) Same Property NOI Growth includes the Company's share of unconsolidated real estate joint ventures and partnerships and
    provisions for uncollectible amounts and related recoveries. It excludes the effect of lease cancellation income and
    straight-line rent adjustments and is reported on a cash basis.

Page 26


Weingarten Realty Investors
Total Net Operating Income by Geographic Region (1)
(at pro rata share)
(in thousands, except percentages)

 
Nine Months Ended September 30,
 
Twelve Months Ended December 31,
 
2013
 
%
 
2012
 
%
 
2012
 
%
 
2011
 
%
 
2010
 
%
 
2009
 
%
West Region
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
California
$
48,151

 
16.7
%
 
$
43,107

 
14.5
%
 
$
59,163

 
15.0
%
 
$
53,618

 
13.2
%
 
$
50,943

 
13.1
%
 
$
50,136

 
12.7
%
Washington
1,873

 
0.6
%
 
1,550

 
0.5
%
 
2,048

 
0.5
%
 
1,978

 
0.5
%
 
1,171

 
0.3
%
 
1,124

 
0.3
%
Oregon
1,163

 
0.4
%
 
1,129

 
0.4
%
 
1,528

 
0.4
%
 
1,349

 
0.3
%
 
1,345

 
0.3
%
 
1,342

 
0.3
%
Total West Region
51,187

 
17.7
%
 
45,786

 
15.4
%
 
62,738

 
15.9
%
 
56,945

 
14.0
%
 
53,459

 
13.7
%
 
52,602

 
13.3
%
Mountain Region
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Nevada
$
21,428

 
7.4
%
 
$
22,625

 
7.6
%
 
$
30,094

 
7.6
%
 
$
30,525

 
7.5
%
 
$
30,906

 
8.0
%
 
$
31,505

 
8.0
%
Arizona
20,359

 
7.1
%
 
19,356

 
6.5
%
 
26,032

 
6.6
%
 
25,450

 
6.3
%
 
24,287

 
6.2
%
 
26,845

 
6.8
%
Colorado
8,431

 
2.9
%
 
10,164

 
3.4
%
 
13,778

 
3.5
%
 
12,485

 
3.1
%
 
10,099

 
2.6
%
 
9,136

 
2.3
%
New Mexico
3,674

 
1.3
%
 
3,270

 
1.1
%
 
4,622

 
1.2
%
 
4,993

 
1.2
%
 
5,250

 
1.4
%
 
8,714

 
2.2
%
Utah
2,646

 
0.9
%
 
2,650

 
0.9
%
 
3,556

 
0.9
%
 
3,494

 
0.9
%
 
3,548

 
0.9
%
 
3,557

 
0.9
%
Total Mountain Region
56,538

 
19.6
%
 
58,066

 
19.5
%
 
78,082

 
19.8
%
 
76,947

 
19.0
%
 
74,090

 
19.1
%
 
79,757

 
20.2
%
Central Region
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Texas
$
80,073

 
27.8
%
 
$
89,271

 
30.0
%
 
$
116,645

 
29.5
%
 
$
129,540

 
32.0
%
 
$
121,035

 
31.1
%
 
$
113,454

 
28.7
%
Louisiana
7,799

 
2.7
%
 
6,606

 
2.2
%
 
9,185

 
2.3
%
 
8,272

 
2.0
%
 
7,715

 
2.0
%
 
8,363

 
2.1
%
Arkansas
2,424

 
0.8
%
 
2,296

 
0.8
%
 
3,089

 
0.8
%
 
3,106

 
0.8
%
 
2,732

 
0.7
%
 
3,048

 
0.8
%
Missouri
815

 
0.3
%
 
650

 
0.2
%
 
852

 
0.2
%
 
1,061

 
0.3
%
 
3,019

 
0.8
%
 
1,875

 
0.5
%
Oklahoma
511

 
0.2
%
 
759

 
0.3
%
 
921

 
0.2
%
 
1,083

 
0.3
%
 
1,034

 
0.3
%
 
975

 
0.2
%
Illinois

 
0.0
%
 
2,309

 
0.8
%
 
2,464

 
0.6
%
 
2,556

 
0.6
%
 
2,065

 
0.5
%
 
2,960

 
0.7
%
Kansas

 
0.0
%
 
476

 
0.2
%
 
474

 
0.1
%
 
1,181

 
0.3
%
 
1,214

 
0.3
%
 
1,405

 
0.4
%
Total Central Region
91,622

 
31.8
%
 
102,368

 
34.5
%
 
133,629

 
33.7
%
 
146,799

 
36.3
%
 
138,814

 
35.7
%
 
132,080

 
33.4
%
Mid-Atlantic Region
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
North Carolina
$
17,759

 
6.2
%
 
$
19,322

 
6.5
%
 
$
25,074

 
6.3
%
 
$
25,656

 
6.3
%
 
$
24,869

 
6.4
%
 
$
25,476

 
6.5
%
Georgia
15,199

 
5.3
%
 
14,825

 
5.0
%
 
19,767

 
5.0
%
 
19,845

 
4.9
%
 
21,798

 
5.6
%
 
22,643

 
5.7
%
Kentucky
5,416

 
1.9
%
 
5,398

 
1.8
%
 
7,050

 
1.8
%
 
6,890

 
1.7
%
 
7,019

 
1.8
%
 
6,766

 
1.7
%
Tennessee
5,295

 
1.8
%
 
5,837

 
2.0
%
 
7,770

 
2.0
%
 
7,491

 
1.8
%
 
6,261

 
1.6
%
 
5,009

 
1.3
%
Maryland
2,120

 
0.7
%
 
399

 
0.1
%
 
1,063

 
0.3
%
 

 
0.0
%
 

 
0.0
%
 

 
0.0
%
South Carolina
200

 
0.1
%
 
202

 
0.1
%
 
265

 
0.1
%
 
268

 
0.1
%
 
285

 
0.1
%
 
306

 
0.1
%
Virginia

 
0.0
%
 
1,780

 
0.6
%
 
1,805

 
0.5
%
 
3,551

 
0.9
%
 
3,634

 
0.9
%
 
3,626

 
0.9
%
Maine

 
0.0
%
 
40

 
0.0
%
 
40

 
0.0
%
 
214

 
0.1
%
 
321

 
0.1
%
 
355

 
0.1
%
Total Mid-Atlantic Region
45,989

 
16.0
%
 
47,803

 
16.1
%
 
62,833

 
16.0
%
 
63,915

 
15.8
%
 
64,186

 
16.5
%
 
64,181

 
16.3
%
Southeast Region
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Florida
$
42,978

 
14.9
%
 
$
43,284

 
14.5
%
 
$
57,620

 
14.6
%
 
$
60,361

 
14.9
%
 
$
58,135

 
15.0
%
 
$
66,170

 
16.8
%
Total Southeast Region
42,978

 
14.9
%
 
43,284

 
14.5
%
 
57,620

 
14.6
%
 
60,361

 
14.9
%
 
58,135

 
15.0
%
 
66,170

 
16.8
%
Total Net Operating Income
$
288,315

 
100.0
%
 
$
297,307

 
100.0
%
 
$
394,902

 
100.0
%
 
$
404,967

 
100.0
%
 
$
388,684

 
100.0
%
 
$
394,790

 
100.0
%
(1)
The Net Operating Income at pro rata share includes the real estate operations of joint ventures at WRI’s ownership percentages ranging from 15% to 75% except for the operations of downreit partnerships, which are included at 100%. Net Operating
Income excludes the effect of lease cancellation income, straight-line rent adjustments and impairment charges. Pro rata financial information is not, and is not intended to be, a presentation in accordance with generally accepted accounting principles.


Page 27












Property Listing





Weingarten Realty Investors
Summary Property Listing
As of September 30, 2013
 
 
 
 
 
Gross Leasable Area
ALL PROPERTIES BY STATE
 
# of
  Properties  
 
WRI
Owned     
 
  Joint Venture  
Share
 
Owned
  by Other   
 
Total        
 
 
 
 
 
 
 
 
 
 
 
Arizona
 
23

 
2,217,809

 

 
1,659,460

 
3,877,269

Arkansas
 
3

 
355,410

 

 

 
355,410

California
 
29

 
3,933,529

 
294,838

 
1,033,238

 
5,261,606

Colorado
 
10

 
912,555

 
678,045

 
1,224,456

 
2,815,056

Florida
 
44

 
4,619,830

 
2,735,628

 
1,493,717

 
8,849,176

Georgia
 
17

 
1,798,356

 
326,936

 
893,578

 
3,018,870

Kentucky
 
4

 
634,594

 

 
127,614

 
762,208

Louisiana
 
8

 
1,281,492

 
107,974

 
330,242

 
1,719,708

Maryland
 
1

 
81,336

 

 

 
81,336

Missouri
 
2

 
229,282

 
28,367

 

 
257,649

Nevada
 
11

 
2,214,038

 

 
1,192,283

 
3,406,321

New Mexico
 
2

 
231,757

 

 
29,440

 
261,197

North Carolina
 
18

 
1,997,389

 
120,165

 
705,600

 
2,823,154

Oklahoma
 
1

 
128,231

 

 

 
128,231

Oregon
 
3

 
119,871

 
90,777

 
62,600

 
273,248

South Carolina
 
1

 
21,686

 
65,060

 

 
86,746

Tennessee
 
5

 
472,171

 
221,834

 
154,340

 
848,345

Texas
 
80

 
8,279,729

 
3,096,562

 
2,677,810

 
14,054,104

Utah
 
4

 
316,647

 
90,774

 
434,465

 
841,886

Virginia
 
1

 

 

 

 

Washington
 
6

 
213,050

 
362,713

 
80,380

 
656,143

Total
 
273

 
30,058,762

 
8,219,673

 
12,099,223

 
50,377,663

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Footnotes for detail property listing
(1) Denotes partial ownership. The square feet figures represent WRI's proportionate ownership of the property held by the joint venture or partnership.
(2) Denotes property currently under development.
(3) Denotes properties that are not consolidated for SEC reporting purposes.
(4) Denotes single tenant retail property.
( ) Retailers in parenthesis are not a part of the owned property.
NOTES: Square feet is reflective of area available to be leased. Average Base Rent per Leased SF excludes ground leases.

Page 29


Weingarten Realty Investors
Property Listing
As of September 30, 2013

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Center                                 
 
CBSA                                         
 
Owned %  

 
Foot Notes  
 
Owned GLA 
 
Total GLA
 
Average
Base Rent
 (ABR)
 
Occupancy
%
 
Grocer Anchor                                       
 
Other Anchors      ( ) indicates owned by others
Operating Properties
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Arizona
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mohave Crossroads
 
Lake Havasu City-Kingman, AZ
 
100.0
%
 

 
182,168

 
395,477

 
13.99

 
80.9
%
 

 
(Target), (Kohl's), PetSmart, Staples, Bed Bath & Beyond, Ross Dress for Less
Arcadia Biltmore Plaza
 
Phoenix-Mesa-Scottsdale, AZ
 
100.0
%
 

 
21,122

 
21,122

 
N/A

 
86.5
%
 

 
Endurance Rehab, Weingarten Realty Regional Office
Arrowhead Festival S.C.
 
Phoenix-Mesa-Scottsdale, AZ
 
100.0
%
 

 
29,834

 
194,309

 
22.81

 
100.0
%
 

 
(Sports Authority), (Toys “R” Us), (Bed Bath & Beyond)
Broadway Marketplace
 
Phoenix-Mesa-Scottsdale, AZ
 
100.0
%
 

 
82,757

 
87,379

 
10.99

 
91.5
%
 

 
Office Max, Ace Hardware
Camelback Village Square
 
Phoenix-Mesa-Scottsdale, AZ
 
100.0
%
 

 
134,495

 
242,715

 
13.36

 
95.7
%
 
Fry’s Supermarket
 
Office Max
Desert Village
 
Phoenix-Mesa-Scottsdale, AZ
 
100.0
%
 

 
101,685

 
107,071

 
21.21

 
96.5
%
 
AJ Fine Foods
 
CVS/pharmacy
Fountain Plaza
 
Phoenix-Mesa-Scottsdale, AZ
 
100.0
%
 

 
113,536

 
305,588

 
8.53

 
95.7
%
 
Fry’s Supermarket
 
Dollar Tree, (Lowe's)
Laveen Village Market
 
Phoenix-Mesa-Scottsdale, AZ
 
100.0
%
 

 
39,763

 
318,805

 
26.94

 
100.0
%
 
(Fry’s Supermarket)
 
(Home Depot)
Monte Vista Village Center
 
Phoenix-Mesa-Scottsdale, AZ
 
100.0
%
 

 
45,751

 
108,551

 
22.86

 
91.9
%
 
(Safeway)
 

Palmilla Center
 
Phoenix-Mesa-Scottsdale, AZ
 
100.0
%
 

 
103,568

 
178,219

 
17.58

 
97.5
%
 
(Fry’s Supermarket)
 
Office Max, PetSmart, Dollar Tree
Pueblo Anozira
 
Phoenix-Mesa-Scottsdale, AZ
 
100.0
%
 

 
157,607

 
157,607

 
14.09

 
98.0
%
 
Fry’s Supermarket
 
Petco, Dollar Tree
Raintree Ranch
 
Phoenix-Mesa-Scottsdale, AZ
 
100.0
%
 

 
129,822

 
133,020

 
24.67

 
96.7
%
 
Whole Foods
 

Rancho Encanto
 
Phoenix-Mesa-Scottsdale, AZ
 
100.0
%
 

 
66,787

 
72,170

 
10.88

 
100.0
%
 
Fresh N Easy
 
Family Dollar
Red Mountain Gateway
 
Phoenix-Mesa-Scottsdale, AZ
 
100.0
%
 

 
69,212

 
199,012

 
14.68

 
94.4
%
 

 
(Target), Bed Bath & Beyond, Famous Footwear
Scottsdale Horizon
 
Phoenix-Mesa-Scottsdale, AZ
 
100.0
%
 

 
10,237

 
148,383

 
28.30

 
100.0
%
 
(Safeway)
 

Squaw Peak Plaza
 
Phoenix-Mesa-Scottsdale, AZ
 
100.0
%
 

 
60,728

 
60,728

 
17.35

 
96.6
%
 
Sprouts Farmers Market
 

The Shoppes at Parkwood Ranch
 
Phoenix-Mesa-Scottsdale, AZ
 
100.0
%
 

 
92,626

 
106,738

 
12.00

 
95.4
%
 

 
Hobby Lobby, Dollar Tree
Valley Plaza
 
Phoenix-Mesa-Scottsdale, AZ
 
100.0
%
 

 
145,518

 
153,880

 
15.75

 
89.6
%
 
US Foods
 
Ross Dress for Less
Entrada de Oro
 
Tucson, AZ
 
100.0
%
 

 
88,665

 
109,075

 
16.82

 
95.7
%
 
Walmart Neighborhood Market
 

Madera Village
 
Tucson, AZ
 
100.0
%
 

 
96,697

 
106,858

 
11.73

 
97.9
%
 
Safeway
 
Walgreens, Dollar Tree
Oracle Crossings
 
Tucson, AZ
 
100.0
%
 

 
251,194

 
261,194

 
17.12

 
99.2
%
 
Sprouts Farmers Market
 
Kohl's, Home Goods
Oracle Wetmore
 
Tucson, AZ
 
100.0
%
 

 
150,109

 
343,237

 
24.05

 
97.2
%
 

 
(Home Depot), Cost Plus, PetSmart, Walgreens, Ulta Beauty
Shoppes at Bears Path
 
Tucson, AZ
 
100.0
%
 

 
43,928

 
66,131

 
15.36

 
81.7
%
 

 
(Osco Drug)
Arizona Total:
 
# of Properties:
23

 
 
 
 
2,217,809

 
3,877,269

 
16.24

 
94.7
%
 
 
 
 
Arkansas
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Markham Square
 
Little Rock-N. Little Rock, AR
 
100.0
%
 

 
124,284

 
124,284

 
8.33

 
100.0
%
 

 
Burlington Coat Factory, Ross Dress for Less
Markham West
 
Little Rock-N. Little Rock, AR
 
100.0
%
 

 
178,500

 
178,500

 
9.96

 
100.0
%
 

 
Academy, Office Depot, Michaels, Bassett Furniture, Dollar Tree
Westgate
 
Little Rock-N. Little Rock, AR
 
100.0
%
 

 
52,626

 
52,626

 
10.57

 
96.4
%
 

 
Stein Mart
Arkansas Total:
 
# of Properties:
3

 
 
 
 
355,410

 
355,410

 
9.47

 
99.5
%
 
 
 
 
California
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
8000 Sunset Strip Shopping Center
 
Los Angeles-Long Beach et al, CA
 
100.0
%
 

 
172,596

 
172,596

 
38.85

 
83.7
%
 
Trader Joe's
 
Crunch, Sundance Cinemas
Buena Vista Marketplace
 
Los Angeles-Long Beach et al, CA
 
100.0
%
 

 
90,805

 
115,340

 
22.94

 
100.0
%
 
Ralph's
 
Dollar Tree
Centerwood Plaza
 
Los Angeles-Long Beach et al, CA
 
100.0
%
 

 
75,486

 
75,486

 
12.07

 
100.0
%
 
Superior Grocers
 

Westminster Center
 
Los Angeles-Long Beach et al, CA
 
100.0
%
 

 
417,567

 
425,437

 
17.70

 
96.6
%
 
Albertsons
 
Home Depot, Ross Dress for Less, Petco, Rite Aid
Hallmark Town Center
 
Madera, CA
 
100.0
%
 

 
85,066

 
98,359

 
13.12

 
97.5
%
 
Food 4 Less
 
Bally Total Fitness

Page 30


Weingarten Realty Investors
Property Listing
As of September 30, 2013

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Center                                 
 
CBSA                                         
 
Owned %  

 
Foot Notes  
 
Owned GLA 
 
Total GLA
 
Average
Base Rent
 (ABR)
 
Occupancy
%
 
Grocer Anchor                                       
 
Other Anchors      ( ) indicates owned by others
Marshalls Plaza
 
Modesto, CA
 
100.0
%
 

 
78,752

 
85,952

 
15.26

 
93.3
%
 

 
Marshalls, Dress Barn, Guitar Center
Shasta Crossroads
 
Redding, CA
 
100.0
%
 

 
121,183

 
176,866

 
17.13

 
97.8
%
 
Food Maxx
 
(Target), Sports Authority
Shasta Crossroads (II)
 
Redding, CA
 
40.0
%
 
(1)(3)
 
30,313

 
90,663

 
13.81

 
100.0
%
 
Food Maxx
 
(Target), Sports Authority
Chino Hills Marketplace
 
Riverside et al, CA
 
100.0
%
 

 
310,921

 
310,921

 
19.62

 
95.8
%
 
Von’s
 
Dollar Tree, 24 Hour Fitness, Rite Aid
Jess Ranch Marketplace
 
Riverside et al, CA
 
50.0
%
 
(1)(3)
 
104,350

 
307,870

 
19.55

 
96.6
%
 
(Winco Foods)
 
Burlington Coat Factory, PetSmart, Rite Aid, Big 5
Jess Ranch Phase III
 
Riverside et al, CA
 
50.0
%
 
(1)(3)
 
92,404

 
194,342

 
18.73

 
95.6
%
 
(Winco Foods)
 
Best Buy, Cinemark Theatres, Bed Bath & Beyond, 24 Hour Fitness
Menifee Town Center
 
Riverside et al, CA
 
100.0
%
 

 
124,431

 
248,734

 
16.10

 
100.0
%
 
Ralph's
 
Ross Dress for Less, Dollar Tree
Stoneridge Town Centre
 
Riverside et al, CA
 
67.0
%
 
(1)(3)
 
106,821

 
434,450

 
21.90

 
82.7
%
 
(Super Target)
 
Office Max, (Kohl's)
Arcade Square
 
Sacramento-Arden et al, CA
 
100.0
%
 

 
76,497

 
76,497

 
12.56

 
91.9
%
 
Grocery Outlet
 

Discovery Plaza
 
Sacramento-Arden et al, CA
 
100.0
%
 

 
93,398

 
93,398

 
15.82

 
98.7
%
 
Bel Air Market
 

Prospectors Plaza
 
Sacramento-Arden et al, CA
 
100.0
%
 

 
243,893

 
252,507

 
22.47

 
95.6
%
 
SaveMart
 
Kmart, CVS Pharmacy
Summerhill Plaza
 
Sacramento-Arden et al, CA
 
100.0
%
 

 
128,835

 
128,835

 
11.37

 
93.8
%
 
Raley’s
 
Dollar Tree
Valley
 
Sacramento-Arden et al, CA
 
100.0
%
 

 
98,240

 
107,005

 
17.78

 
91.4
%
 
Raley's
 

El Camino Promenade
 
San Diego-Carlsbad et al, CA
 
100.0
%
 

 
129,676

 
129,676

 
24.00

 
97.9
%
 

 
T.J. Maxx, Staples, Dollar Tree
Rancho San Marcos Village
 
San Diego-Carlsbad et al, CA
 
100.0
%
 

 
120,829

 
132,689

 
18.55

 
94.6
%
 
Von’s
 
24 Hour Fitness
San Marcos Plaza
 
San Diego-Carlsbad et al, CA
 
100.0
%
 

 
35,880

 
81,086

 
31.91

 
93.6
%
 
(Albertsons)
 

580 Market Place
 
San Francisco-Oakland et al, CA
 
100.0
%
 

 
99,256

 
99,256

 
29.37

 
98.7
%
 
Safeway
 
24 Hour Fitness, Petco
Fremont Gateway Plaza
 
San Francisco-Oakland et al, CA
 
100.0
%
 

 
194,601

 
361,701

 
19.33

 
97.7
%
 
Raley’s
 
24 Hour Fitness, (Walgreens)
Greenhouse Marketplace
 
San Francisco-Oakland et al, CA
 
100.0
%
 

 
147,063

 
236,832

 
19.27

 
100.0
%
 
(Safeway)
 
(CVS Pharmacy), Jo-Ann Fabrics, 99 Cents Only, Factory 2 U
Silver Creek Plaza
 
San Jose-Sunnyvale et al, CA
 
100.0
%
 

 
132,925

 
197,925

 
23.15

 
100.0
%
 
Safeway
 
Walgreens, (Orchard Supply)
Freedom Centre
 
Santa Cruz-Watsonville, CA
 
100.0
%
 

 
150,241

 
150,241

 
15.74

 
99.2
%
 
Safeway
 
Rite Aid, Big Lots
Stony Point Plaza
 
Santa Rosa-Petaluma, CA
 
100.0
%
 

 
194,629

 
200,071

 
13.74

 
100.0
%
 
Food Maxx
 
Ross Dress for Less, Fallas Paredes
Creekside Center
 
Vallejo-Fairfield, CA
 
100.0
%
 

 
114,445

 
114,445

 
20.43

 
92.9
%
 
Raley’s
 

Southampton Center
 
Vallejo-Fairfield, CA
 
100.0
%
 

 
162,426

 
162,426

 
18.61

 
99.2
%
 
Raley’s
 
Ace Hardware
California Total:
 
# of Properties:
29

 
 
 
 
3,933,529

 
5,261,606

 
19.28

 
96.1
%
 
 
 
 
Colorado
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Aurora City Place
 
Denver-Aurora, CO
 
50.0
%
 
(1)(3)
 
180,478

 
542,956

 
16.17

 
93.4
%
 
(Super Target)
 
Sports Authority, Barnes & Noble, Ross Dress For Less, PetSmart
Cherry Creek
 
Denver-Aurora, CO
 
100.0
%
 

 
78,148

 
272,671

 
25.95

 
100.0
%
 

 
Sports Authority, PetSmart, (Target)
CityCenter Englewood
 
Denver-Aurora, CO
 
51.0
%
 
(1)(3)
 
137,298

 
359,213

 
15.46

 
81.3
%
 

 
(Walmart), Ross Dress for Less, Petco, Office Depot, Bally Total Fitness
Crossing at Stonegate
 
Denver-Aurora, CO
 
51.0
%
 
(1)(3)
 
55,620

 
109,058

 
15.59

 
100.0
%
 
King Sooper’s
 

Edgewater Marketplace
 
Denver-Aurora, CO
 
100.0
%
 

 
144,553

 
270,553

 
10.51

 
98.0
%
 
King Sooper's
 
Ace Hardware, (Target)
Green Valley Ranch Towne Center
 
Denver-Aurora, CO
 
50.0
%
 
(1)(3)
 
28,474

 
114,947

 
21.57

 
90.9
%
 
(King Sooper’s)
 

Lowry Town Center
 
Denver-Aurora, CO
 
50.0
%
 
(1)(3)
 
38,349

 
129,398

 
24.91

 
95.4
%
 
(Albertsons)
 

River Point at Sheridan
 
Denver-Aurora, CO
 
50.0
%
 
(1)
 
92,944

 
519,020

 
16.04

 
90.1
%
 

 
(Target), (Costco and Costco Gas Pad), Regal Cinema, Michaels, Tuesday Morning
Thorncreek Crossing
 
Denver-Aurora, CO
 
51.0
%
 
(1)(3)
 
108,185

 
386,127

 
16.19

 
100.0
%
 
Sunflower Farmers Market, (Super Target)
 
Barnes & Noble, Cost Plus, Michaels, OfficeMax, Dollar Tree
Westminster Plaza
 
Denver-Aurora, CO
 
50.0
%
 
(1)
 
48,506

 
111,113

 
17.84

 
100.0
%
 
Safeway
 
(Walgreens)
Colorado Total:
 
# of Properties:
10

 
 
 
 
912,555

 
2,815,056

 
16.62

 
94.1
%
 
 
 
 

Page 31


Weingarten Realty Investors
Property Listing
As of September 30, 2013

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Center                                 
 
CBSA                                         
 
Owned %  

 
Foot Notes  
 
Owned GLA 
 
Total GLA
 
Average
Base Rent
 (ABR)
 
Occupancy
%
 
Grocer Anchor                                       
 
Other Anchors      ( ) indicates owned by others
Florida
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Shoppes at Paradise Isle
 
Fort Walton Beach et al, FL
 
25.0
%
 
(1)(3)
 
42,917

 
171,669

 
16.10

 
97.6
%
 

 
Big Lots, Best Buy, PetSmart, Office Depot, Michaels
Argyle Village
 
Jacksonville, FL
 
100.0
%
 

 
312,432

 
312,432

 
10.88

 
93.4
%
 
Publix
 
Bed Bath & Beyond, T.J. Maxx, Babies “R” Us, Jo-Ann’s Fabrics, Michaels
Atlantic North
 
Jacksonville, FL
 
50.0
%
 
(1)(3)(4)
 
33,842

 
112,685

 
N/A

 
100.0
%
 

 
Academy, (LA Fitness)
Atlantic West
 
Jacksonville, FL
 
50.0
%
 
(1)(3)
 
42,284

 
180,578

 
12.57

 
100.0
%
 

 
T.J. Maxx, Office Depot, Dollar Tree, Shoe Carnival, (Kohl's)
Epic Village - St. Augustine
 
Jacksonville, FL
 
70.0
%
 
(1)
 
8,542

 
64,180

 
18.67

 
86.6
%
 

 
(Epic Theaters)
Kernan Village
 
Jacksonville, FL
 
50.0
%
 
(1)(3)
 
42,579

 
288,780

 
16.17

 
98.6
%
 
(Walmart Supercenter)
 
Ross Dress for Less, Petco
Boca Lyons
 
Miami-Fort Lauderdale et al, FL
 
100.0
%
 

 
117,515

 
117,515

 
21.61

 
82.6
%
 

 
Ross Dress for Less
Embassy Lakes
 
Miami-Fort Lauderdale et al, FL
 
100.0
%
 

 
131,723

 
179,937

 
13.37

 
90.5
%
 
Winn Dixie
 
Tuesday Morning, Dollar Tree
Flamingo Pines
 
Miami-Fort Lauderdale et al, FL
 
100.0
%
 

 
139,462

 
266,761

 
20.77

 
94.5
%
 
(Walmart Supercenter)
 
U.S. Post Office, Florida Technical College
Flamingo Pines
 
Miami-Fort Lauderdale et al, FL
 
20.0
%
 
(1)(3)
 
25,373

 
148,840

 
16.71

 
92.9
%
 
Publix
 

Hollywood Hills Plaza
 
Miami-Fort Lauderdale et al, FL
 
20.0
%
 
(1)(3)
 
72,957

 
408,509

 
18.54

 
99.1
%
 
Publix
 
Target, CVS/pharmacy
Northridge
 
Miami-Fort Lauderdale et al, FL
 
20.0
%
 
(1)(3)
 
46,951

 
237,784

 
16.79

 
94.4
%
 
Publix
 
Petco, Ross Dress for Less, Dollar Tree
Pembroke Commons
 
Miami-Fort Lauderdale et al, FL
 
20.0
%
 
(1)(3)
 
60,914

 
324,829

 
13.49

 
100.0
%
 
Publix
 
Marshalls, Office Depot, LA Fitness, Dollar Tree
Publix at Laguna Isles
 
Miami-Fort Lauderdale et al, FL
 
100.0
%
 

 
69,475

 
69,475

 
14.03

 
93.8
%
 
Publix
 

Shoppes at Parkland
 
Miami-Fort Lauderdale et al, FL
 
30.0
%
 
(1)
 
43,716

 
167,308

 
12.73

 
93.7
%
 
BJ's Wholesale Club
 

Sunrise West Shopping Center
 
Miami-Fort Lauderdale et al, FL
 
25.0
%
 
(1)(3)
 
19,080

 
76,321

 
14.11

 
86.4
%
 
Publix
 

Tamiami Trail Shops
 
Miami-Fort Lauderdale et al, FL
 
20.0
%
 
(1)(3)
 
22,173

 
132,564

 
15.25

 
95.7
%
 
Publix
 
CVS/pharmacy
TJ Maxx Plaza
 
Miami-Fort Lauderdale et al, FL
 
100.0
%
 

 
161,429

 
161,429

 
15.11

 
96.7
%
 
Winn Dixie
 
T.J. Maxx, Dollar Tree
Vizcaya Square
 
Miami-Fort Lauderdale et al, FL
 
100.0
%
 

 
110,081

 
110,081

 
14.83

 
97.2
%
 
Winn Dixie
 

Sea Ranch Centre
 
Miami-Fort Lauderdale-Pompano Beach, FL
100.0
%
 

 
98,519

 
98,519

 
17.32

 
85.8
%
 
Publix
 
CVS/pharmacy, Dollar Tree
Alafaya Square
 
Orlando, FL
 
20.0
%
 
(1)(3)
 
35,297

 
176,486

 
12.00

 
80.0
%
 
Publix
 

Clermont Landing
 
Orlando, FL
 
65.7
%
 
(1)(3)
 
110,396

 
337,713

 
15.99

 
93.0
%
 

 
(J.C. Penney), (Epic Theater), T.J. Maxx, Ross Dress for Less, Michaels
Colonial Landing
 
Orlando, FL
 
50.0
%
 
(1)
 
129,512

 
259,024

 
13.54

 
100.0
%
 

 
PetSmart, Sports Authority, Bed Bath & Beyond, buybuy BABY
Colonial Plaza
 
Orlando, FL
 
100.0
%
 

 
498,614

 
498,614

 
13.76

 
98.9
%
 

 
Staples, Ross Dress for Less, Marshalls, Old Navy, Stein Mart, Barnes & Noble, Petco, Big Lots, Hobby Lobby
International Drive Value Center
 
Orlando, FL
 
20.0
%
 
(1)(3)
 
37,115

 
185,577

 
8.98

 
89.8
%
 

 
Bed Bath & Beyond, Ross Dress for Less, T.J. Maxx
Marketplace at Seminole Towne Center
 
Orlando, FL
 
100.0
%
 

 
302,135

 
484,048

 
14.65

 
99.7
%
 
(Super Target)
 
Marshalls, Ross Dress for Less, Old Navy, Sports Authority, Petco
Phillips Crossing
 
Orlando, FL
 
100.0
%
 

 
145,644

 
145,644

 
26.43

 
100.0
%
 
Whole Foods
 
Golf Galaxy, Michaels
Phillips Landing
 
Orlando, FL
 
100.0
%
 

 
66,218

 
286,033

 
18.37

 
100.0
%
 
(Walmart Supercenter)
 
Planet Fitness
The Marketplace at Dr. Phillips
 
Orlando, FL
 
20.0
%
 
(1)(3)
 
65,218

 
326,090

 
21.35

 
95.2
%
 
Publix
 
Stein Mart, Home Goods, Morton's of Chicago, Office Depot
The Shoppes at South Semoran
 
Orlando, FL
 
100.0
%
 

 
101,611

 
101,611

 
11.82

 
100.0
%
 
Walmart Neighborhood Market
 
Dollar Tree
University Palms
 
Orlando, FL
 
30.0
%
 
(1)
 
29,752

 
105,127

 
13.64

 
100.0
%
 
Publix
 

Winter Park Corners
 
Orlando, FL
 
100.0
%
 

 
102,382

 
102,382

 
19.19

 
100.0
%
 
Whole Foods Market
 
 
Indian Harbour Place
 
Palm Bay-Melbourne et al, FL
 
25.0
%
 
(1)(3)
 
40,880

 
163,521

 
11.83

 
95.5
%
 
Publix
 
Bealls
Lake Washington Crossing
 
Palm Bay-Melbourne et al, FL
 
25.0
%
 
(1)(3)
 
29,707

 
118,828

 
10.37

 
86.7
%
 
Publix
 

Lake Washington Square
 
Palm Bay-Melbourne et al, FL
 
100.0
%
 

 
112,057

 
112,057

 
10.64

 
91.8
%
 
Thrifty Specialty Produce
 
LA Fitness
Pineapple Commons
 
Port St. Lucie-Fort Pierce, FL
 
20.0
%
 
(1)(3)
 
50,023

 
264,468

 
14.70

 
100.0
%
 

 
Ross Dress for Less, Best Buy, PetSmart, Marshalls, (CVS/pharmacy)

Page 32


Weingarten Realty Investors
Property Listing
As of September 30, 2013

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Center                                 
 
CBSA                                         
 
Owned %  

 
Foot Notes  
 
Owned GLA 
 
Total GLA
 
Average
Base Rent
 (ABR)
 
Occupancy
%
 
Grocer Anchor                                       
 
Other Anchors      ( ) indicates owned by others
Quesada Commons
 
Punta Gorda, FL
 
25.0
%
 
(1)(3)
 
14,722

 
58,890

 
13.26

 
97.7
%
 
Publix
 
(Walgreens)
Shoppes of Port Charlotte
 
Punta Gorda, FL
 
25.0
%
 
(1)(3)
 
10,253

 
41,011

 
19.58

 
90.2
%
 
(Publix)
 
Petco, (Walgreens)
Shoppes of Port Charlotte
 
Punta Gorda, FL
 
25.0
%
 
(1)(3)(4)
 
980

 
3,921

 
N/A

 
100.0
%
 
(Publix)
 
Chick-fil-A, (Walgreens)
Countryside Centre
 
Tampa-St. Petersburg et al, FL
 
100.0
%
 

 
248,431

 
248,431

 
13.99

 
96.2
%
 

 
T.J. Maxx, Home Goods, Dick's Sporting Goods, Ross Dress for Less
East Lake Woodlands
 
Tampa-St. Petersburg et al, FL
 
20.0
%
 
(1)(3)
 
28,739

 
143,693

 
13.88

 
83.8
%
 

 
Walgreens
Largo Mall
 
Tampa-St. Petersburg et al, FL
 
100.0
%
 

 
377,483

 
575,114

 
15.68

 
93.8
%
 
(Albertsons)
 
Bealls, Marshalls, PetSmart, Bed Bath & Beyond, Staples, Michaels, (Target)
Palms of Carrollwood
 
Tampa-St. Petersburg et al, FL
 
100.0
%
 

 
167,887

 
167,887

 
13.28

 
80.7
%
 
The Fresh Market
 
Bed Bath & Beyond
Sunset 19
 
Tampa-St. Petersburg et al, FL
 
100.0
%
 

 
275,910

 
275,910

 
12.05

 
99.6
%
 

 
Bed Bath & Beyond, Staples, Comp USA, Barnes & Noble, Sports Authority, Old Navy
Whole Foods @ Carrollwood
 
Tampa-St. Petersburg et al, FL
 
100.0
%
 
(4)
 
36,900

 
36,900

 
N/A

 
100.0
%
 
Whole Foods Market
 

Florida Total:
 
# of Properties:
44

 
 
 
 
4,619,830

 
8,849,176

 
15.02

 
95.3
%
 
 
 
 
Georgia
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Brookwood Marketplace
 
Atlanta-Sandy Springs et al, GA
 
100.0
%
 

 
199,594

 
397,295

 
17.25

 
89.6
%
 
(Super Target)
 
Home Depot, Bed Bath & Beyond, Office Max
Brookwood Square
 
Atlanta-Sandy Springs et al, GA
 
100.0
%
 

 
234,501

 
234,501

 
8.99

 
43.2
%
 

 
Marshalls
Brownsville Commons
 
Atlanta-Sandy Springs et al, GA
 
100.0
%
 

 
27,747

 
81,886

 
17.37

 
78.7
%
 
(Kroger)
 

Camp Creek Marketplace II
 
Atlanta-Sandy Springs et al, GA
 
100.0
%
 

 
196,283

 
228,003

 
14.13

 
96.4
%
 

 
DSW, LA Fitness, Shopper's World, American Signature
Cherokee Plaza
 
Atlanta-Sandy Springs et al, GA
 
30.0
%
 
(1)
 
30,859

 
102,864

 
20.60

 
100.0
%
 
Kroger
 

Dacula Marketplace
 
Atlanta-Sandy Springs et al, GA
 
100.0
%
 

 
24,140

 
116,943

 
22.03

 
81.1
%
 
(Kroger)
 

Dallas Commons
 
Atlanta-Sandy Springs et al, GA
 
100.0
%
 

 
25,158

 
95,262

 
22.71

 
100.0
%
 
(Kroger)
 

Grayson Commons
 
Atlanta-Sandy Springs et al, GA
 
100.0
%
 

 
76,611

 
76,611

 
14.20

 
91.0
%
 
Kroger
 

Lakeside Marketplace
 
Atlanta-Sandy Springs et al, GA
 
100.0
%
 

 
136,848

 
332,044

 
15.91

 
100.6
%
 
(Super Target)
 
Ross Dress for Less, Petco
Mansell Crossing
 
Atlanta-Sandy Springs et al, GA
 
20.0
%
 
(1)(3)
 
20,586

 
102,931

 
12.46

 
100.0
%
 

 
buybuy BABY, Ross Dress for Less, Rooms to Go
Perimeter Village
 
Atlanta-Sandy Springs et al, GA
 
100.0
%
 

 
373,621

 
373,621

 
18.53

 
97.7
%
 
Walmart Supercenter
 
Cost Plus World Market, DSW, Hobby Lobby
Publix at Princeton Lakes
 
Atlanta-Sandy Springs et al, GA
 
20.0
%
 
(1)(3)
 
13,681

 
72,207

 
16.45

 
100.0
%
 
Publix
 

Reynolds Crossing
 
Atlanta-Sandy Springs et al, GA
 
100.0
%
 

 
45,758

 
115,983

 
24.51

 
84.8
%
 
(Kroger)
 

Roswell Corners
 
Atlanta-Sandy Springs et al, GA
 
100.0
%
 

 
140,479

 
318,369

 
16.36

 
95.1
%
 
(Super Target)
 
Staples, T.J. Maxx
Roswell Crossing
 
Atlanta-Sandy Springs et al, GA
 
100.0
%
 

 
201,979

 
201,979

 
13.94

 
92.1
%
 
Trader Joe's
 
Office Max, PetSmart, Walgreens
Sandy Plains Exchange
 
Atlanta-Sandy Springs et al, GA
 
30.0
%
 
(1)
 
21,835

 
72,784

 
13.48

 
93.2
%
 
Publix
 

Thompson Bridge Commons
 
Gainesville, GA
 
30.0
%
 
(1)
 
28,676

 
95,587

 
13.52

 
97.4
%
 
Kroger
 

Georgia Total:
 
# of Properties:
17

 
 
 
 
1,798,356

 
3,018,870

 
15.70

 
87.9
%
 
 
 
 
Kentucky
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Millpond Center
 
Lexington-Fayette, KY
 
100.0
%
 

 
124,498

 
151,498

 
10.44

 
91.2
%
 
Kroger
 

Regency Shopping Centre
 
Lexington-Fayette, KY
 
100.0
%
 

 
142,738

 
188,782

 
13.62

 
91.8
%
 
(Kroger)
 
T.J. Maxx, Michaels
Tates Creek
 
Lexington-Fayette, KY
 
100.0
%
 

 
198,372

 
203,532

 
14.39

 
97.3
%
 
Kroger
 
Rite Aid
Festival at Jefferson Court
 
Louisville, KY-IN
 
100.0
%
 

 
168,986

 
218,396

 
12.61

 
99.2
%
 
Kroger
 
(PetSmart), Staples, Factory Card Outlet
Kentucky Total:
 
# of Properties:
4

 
 
 
 
634,594

 
762,208

 
12.96

 
95.3
%
 
 
 
 
Louisiana
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Town & Country Plaza
 
Hammond, LA
 
100.0
%
 

 
226,142

 
226,142

 
8.78

 
94.0
%
 
Winn Dixie
 
 Ross Dress for Less, Office Depot, CVS/pharmacy

Page 33


Weingarten Realty Investors
Property Listing
As of September 30, 2013

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Center                                 
 
CBSA                                         
 
Owned %  

 
Foot Notes  
 
Owned GLA 
 
Total GLA
 
Average
Base Rent
 (ABR)
 
Occupancy
%
 
Grocer Anchor                                       
 
Other Anchors      ( ) indicates owned by others
Westwood Village
 
Lafayette, LA
 
100.0
%
 

 
138,034

 
138,034

 
9.65

 
99.2
%
 
Rouses Supermarket
 
Stage, CVS
14/Park Plaza
 
Lake Charles, LA
 
100.0
%
 

 
172,068

 
172,068

 
7.42

 
60.3
%
 

 
Conn’s, Anna's Linens, Family Dollar, Citi Trends
K-Mart Plaza
 
Lake Charles, LA
 
50.0
%
 
(1)(3)
 
107,974

 
232,390

 
9.33

 
100.0
%
 
Albertsons
 
Kmart, Dollar Tree, Planet Fitness
Southgate
 
Lake Charles, LA
 
100.0
%
 

 
156,838

 
156,838

 
10.41

 
85.5
%
 
Market Basket
 
Office Depot, Books-A-Million
Danville Plaza
 
Monroe, LA
 
100.0
%
 

 
136,368

 
136,368

 
5.36

 
96.3
%
 
County Market
 
Citi Trends, Surplus Warehouse
Manhattan Place
 
New Orleans-Metairie-Kenner, LA
 
100.0
%
 

 
137,315

 
276,615

 
14.61

 
90.8
%
 

 
(Target), Ross Dress for Less, Stage, K&G Fashion
University Place
 
Shreveport-Bossier City, LA
 
100.0
%
 

 
206,753

 
381,253

 
16.37

 
97.1
%
 
(Super Target)
 
Best Buy, T.J. Maxx, CVS/pharmacy, Bed Bath & Beyond
Louisiana Total:
 
# of Properties:
8

 
 
 
 
1,281,492

 
1,719,708

 
10.84

 
89.9
%
 
 
 
 
Maryland
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pike Center
 
Washington, DC-VA-MD-WV
 
100.0
%
 

 
81,336

 
81,336

 
53.84

 
97.3
%
 

 
T.G.I. Friday's, Ethan Allen, Pier 1
Maryland Total:
 
# of Properties:
1

 
 
 
 
81,336

 
81,336

 
53.84

 
97.3
%
 
 
 
 
Missouri
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ballwin Plaza
 
St. Louis, MO-IL
 
100.0
%
 

 
200,915

 
200,915

 
8.02

 
80.0
%
 
Schnucks
 
Michaels
Western Plaza
 
St. Louis, MO-IL
 
50.0
%
 
(1)(3)
 
28,367

 
56,734

 
7.59

 
100.0
%
 

 
Value Village
Missouri Total:
 
# of Properties:
2

 
 
 
 
229,282

 
257,649

 
7.98

 
82.4
%
 
 
 
 
Nevada
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Best in the West
 
Las Vegas-Paradise, NV
 
100.0
%
 

 
428,067

 
428,067

 
17.33

 
100.0
%
 

 
Bed Bath and Beyond, PetSmart, Old Navy, Ulta Beauty
Charleston Commons
 
Las Vegas-Paradise, NV
 
100.0
%
 

 
332,298

 
362,273

 
15.43

 
95.9
%
 
Walmart
 
Ross, Office Max, 99 Cents Only, PetSmart
College Park S.C.
 
Las Vegas-Paradise, NV
 
100.0
%
 

 
167,654

 
195,367

 
11.69

 
94.4
%
 
El Super
 
Anna's Linens, Factory 2 U, CVS
Eastern Horizon
 
Las Vegas-Paradise, NV
 
100.0
%
 

 
65,848

 
209,727

 
21.12

 
82.0
%
 
Trader Joe's, (Kmart)
 

Francisco Centre
 
Las Vegas-Paradise, NV
 
100.0
%
 

 
116,973

 
148,815

 
11.04

 
77.4
%
 
La Bonita Grocery
 
(Ross Dress for Less), Fallas Paredes
Paradise Marketplace
 
Las Vegas-Paradise, NV
 
100.0
%
 

 
78,077

 
148,572

 
16.82

 
86.8
%
 
(Smith’s Food)
 
Dollar Tree
Rainbow Plaza
 
Las Vegas-Paradise, NV
 
100.0
%
 

 
273,916

 
273,916

 
14.13

 
97.2
%
 
Albertsons
 
Ross Dress for Less, JC Penney, Home Depot, 24 Hour Fitness
Rainbow Plaza, Phase I
 
Las Vegas-Paradise, NV
 
100.0
%
 

 
136,369

 
136,369

 
13.09

 
93.8
%
 
Albertsons
 
Ross Dress for Less, JC Penney, Home Depot, 24 Hour Fitness
Rancho Towne & Country
 
Las Vegas-Paradise, NV
 
100.0
%
 

 
84,751

 
139,847

 
12.16

 
100.0
%
 
Smith’s Food
 

Tropicana Beltway
 
Las Vegas-Paradise, NV
 
100.0
%
 

 
246,483

 
617,821

 
17.86

 
95.7
%
 
(Walmart Supercenter)
 
(Lowe’s), Ross Dress for Less, PetSmart, Office Depot, Sports Authority
Tropicana Marketplace
 
Las Vegas-Paradise, NV
 
100.0
%
 

 
69,475

 
142,643

 
19.13

 
76.0
%
 
(Smith’s Food)
 
Family Dollar
Westland Fair North
 
Las Vegas-Paradise, NV
 
100.0
%
 

 
214,127

 
602,904

 
17.13

 
97.2
%
 
(Walmart Supercenter)
 
(Lowe’s), PetSmart, Office Depot, Michaels, Anna's Linens
Nevada Total:
 
# of Properties:
11

 
 
 
 
2,214,038

 
3,406,321

 
15.62

 
94.3
%
 
 
 
 
New Mexico
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Eastdale
 
Albuquerque, NM
 
100.0
%
 

 
119,091

 
119,091

 
7.33

 
92.8
%
 
Albertsons
 
Family Dollar
North Towne Plaza
 
Albuquerque, NM
 
100.0
%
 

 
112,666

 
142,106

 
20.66

 
99.0
%
 
Whole Foods Market
 
Home Goods
New Mexico Total:
 
# of Properties:
2

 
 
 
 
231,757

 
261,197

 
14.02

 
95.8
%
 
 
 
 
North Carolina
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Galleria
 
Charlotte-Gastonia et al, NC-SC
 
100.0
%
 

 
120,674

 
328,276

 
17.00

 
90.7
%
 
(Walmart Supercenter)
 
Off Broadway Shoes
Whitehall Commons
 
Charlotte-Gastonia et al, NC-SC
 
100.0
%
 

 
41,941

 
444,561

 
23.97

 
96.7
%
 
(Walmart Supercenter), (BI-LO)
 
(Lowe's)
Bull City Market
 
Durham, NC
 
100.0
%
 

 
40,875

 
40,875

 
18.38

 
100.0
%
 
Whole Foods Market
 


Page 34


Weingarten Realty Investors
Property Listing
As of September 30, 2013

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Center                                 
 
CBSA                                         
 
Owned %  

 
Foot Notes  
 
Owned GLA 
 
Total GLA
 
Average
Base Rent
 (ABR)
 
Occupancy
%
 
Grocer Anchor                                       
 
Other Anchors      ( ) indicates owned by others
Chatham Crossing
 
Durham, NC
 
25.0
%
 
(1)(3)
 
24,039

 
96,155

 
13.42

 
97.7
%
 
Lowes Food
 
CVS/pharmacy
Hope Valley Commons
 
Durham, NC
 
100.0
%
 

 
81,371

 
81,371

 
22.44

 
96.6
%
 
Harris Teeter
 

Avent Ferry
 
Raleigh-Cary, NC
 
100.0
%
 

 
111,622

 
111,622

 
18.32

 
89.7
%
 
Food Lion
 
Family Dollar
Capital Square
 
Raleigh-Cary, NC
 
100.0
%
 

 
143,063

 
143,063

 
7.29

 
100.0
%
 
Food Lion
 

Falls Pointe
 
Raleigh-Cary, NC
 
100.0
%
 

 
112,203

 
198,553

 
16.99

 
90.8
%
 
Harris Teeter
 
(Kohl’s)
Harrison Pointe
 
Raleigh-Cary, NC
 
100.0
%
 

 
130,758

 
130,758

 
16.45

 
95.8
%
 
Harris Teeter
 
Staples
Heritage Station
 
Raleigh-Cary, NC
 
30.0
%
 
(1)
 
20,592

 
77,669

 
19.83

 
96.1
%
 
Harris Teeter
 

High House Crossing
 
Raleigh-Cary, NC
 
100.0
%
 

 
90,155

 
90,155

 
13.86

 
100.0
%
 
Harris Teeter
 

Leesville Town Centre
 
Raleigh-Cary, NC
 
100.0
%
 

 
114,396

 
114,396

 
21.95

 
90.0
%
 
Harris Teeter
 
Rite Aid
Northwoods Market
 
Raleigh-Cary, NC
 
100.0
%
 

 
77,802

 
77,802

 
11.16

 
95.9
%
 
Walmart Neighborhood Market
 
Dollar Tree
Parkway Pointe
 
Raleigh-Cary, NC
 
100.0
%
 

 
80,061

 
80,061

 
10.92

 
93.6
%
 
Food Lion
 
Rite Aid
Six Forks Station
 
Raleigh-Cary, NC
 
100.0
%
 

 
466,585

 
466,585

 
11.14

 
94.5
%
 
Food Lion
 
Kmart, Home Depot, Bed Bath & Beyond, PetSmart
Stonehenge Market
 
Raleigh-Cary, NC
 
100.0
%
 

 
188,521

 
188,521

 
12.40

 
98.4
%
 
Harris Teeter
 
Stein Mart, Rite Aid
Surf City Crossing
 
Wilmington, NC
 
100.0
%
 

 
63,016

 
63,016

 
10.99

 
93.1
%
 
Harris Teeter
 

Waterford Village
 
Wilmington, NC
 
100.0
%
 

 
89,715

 
89,715

 
21.22

 
97.2
%
 
Harris Teeter
 

North Carolina Total:
 
# of Properties:
18

 
 
 
 
1,997,389

 
2,823,154

 
14.25

 
95.0
%
 
 
 
 
Oklahoma
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Town and Country
 
Oklahoma City, OK
 
100.0
%
 

 
128,231

 
128,231

 
6.54

 
91.3
%
 

 
Office Depot, Big Lots, Westlake Hardware, Aaron Rents
Oklahoma Total:
 
# of Properties:
1

 
 
 
 
128,231

 
128,231

 
6.54

 
91.3
%
 
 
 
 
Oregon
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Clackamas Square
 
Portland-Vancouver et al, OR-WA
 
20.0
%
 
(1)(3)
 
14,790

 
136,551

 
17.56

 
97.6
%
 
(Winco Foods)
 
T.J. Maxx
Oak Grove Market Center
 
Portland-Vancouver et al, OR-WA
 
100.0
%
 

 
97,177

 
97,177

 
13.17

 
94.0
%
 
Safeway
 

Raleigh Hills Plaza
 
Portland-Vancouver et al, OR-WA
 
20.0
%
 
(1)(3)
 
7,904

 
39,520

 
24.40

 
100.0
%
 
New Seasons Market
 
Walgreens
Oregon Total:
 
# of Properties:
3

 
 
 
 
119,871

 
273,248

 
14.49

 
94.8
%
 
 
 
 
South Carolina
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fresh Market Shoppes
 
Hilton Head Island-Beaufort, SC
 
25.0
%
 
(1)(3)
 
21,686

 
86,746

 
15.12

 
93.9
%
 
The Fresh Market
 

South Carolina Total:
 
# of Properties:
1

 
 
 
 
21,686

 
86,746

 
15.12

 
93.9
%
 
 
 
 
Tennessee
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Bartlett Towne Center
 
Memphis, TN-MS-AR
 
100.0
%
 

 
192,624

 
192,624

 
11.19

 
100.0
%
 
Kroger
 
Petco, Dollar Tree, Shoe Carnival
Commons at Dexter Lake
 
Memphis, TN-MS-AR
 
30.0
%
 
(1)
 
50,087

 
178,558

 
8.82

 
89.0
%
 
Kroger
 
Stein Mart, Marshalls, HomeGoods
Commons at Dexter Lake Phase II
 
Memphis, TN-MS-AR
 
30.0
%
 
(1)
 
18,551

 
66,838

 
13.18

 
84.6
%
 
Kroger
 
Stein Mart, Marshalls, HomeGoods
Highland Square
 
Memphis, TN-MS-AR
 
100.0
%
 
(4)
 
14,490

 
14,490

 
N/A

 
100.0
%
 

 
Walgreens
Mendenhall Commons
 
Memphis, TN-MS-AR
 
30.0
%
 
(1)
 
26,432

 
88,108

 
11.40

 
97.4
%
 
Kroger
 

Ridgeway Trace
 
Memphis, TN-MS-AR
 
100.0
%
 

 
169,987

 
307,727

 
20.83

 
97.1
%
 

 
(Target), Best Buy, Sports Authority, PetSmart, Staples
Tennessee Total:
 
# of Properties:
5

 
 
 
 
472,171

 
848,345

 
14.57

 
97.0
%
 
 
 
 
Texas
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Bell Plaza
 
Amarillo, TX
 
15.0
%
 
(1)
 
19,595

 
130,631

 
12.56

 
82.4
%
 
United Supermarket
 
Dollar Tree

Page 35


Weingarten Realty Investors
Property Listing
As of September 30, 2013

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Center                                 
 
CBSA                                         
 
Owned %  

 
Foot Notes  
 
Owned GLA 
 
Total GLA
 
Average
Base Rent
 (ABR)
 
Occupancy
%
 
Grocer Anchor                                       
 
Other Anchors      ( ) indicates owned by others
Crossroads
 
Beaumont-Port Arthur, TX
 
100.0
%
 

 
115,798

 
115,798

 
5.07

 
100.0
%
 
Market Basket
 
Bealls, Baskins, Burke’s Outlet
North Park Plaza
 
Beaumont-Port Arthur, TX
 
50.0
%
 
(1)(3)
 
69,100

 
279,530

 
14.28

 
96.0
%
 

 
(Target), (Toys “R” Us), Anna's Linens, Spec's, Kirkland's
Phelan West
 
Beaumont-Port Arthur, TX
 
66.7
%
 
(1)(3)
 
15,552

 
82,221

 
12.89

 
100.0
%
 
(Kroger)
 

North Towne Plaza
 
Brownsville-Harlingen, TX
 
100.0
%
 

 
36,000

 
153,000

 
21.00

 
32.2
%
 

 
(Lowe's)
Moore Plaza
 
Corpus Christi, TX
 
100.0
%
 

 
371,650

 
599,622

 
14.22

 
99.2
%
 
(H-E-B)
 
Office Depot, Marshalls, (Target), Old Navy, Hobby Lobby, Stein Mart
Boswell Towne Center
 
Dallas-Fort Worth-Arlington, TX
 
100.0
%
 

 
26,088

 
88,008

 
21.64

 
100.0
%
 
(Albertsons)
 

Gateway Station
 
Dallas-Fort Worth-Arlington, TX
 
70.0
%
 
(1)
 
47,950

 
68,500

 
11.79

 
64.1
%
 

 
Conn's
Lake Pointe Market Center
 
Dallas-Fort Worth-Arlington, TX
 
100.0
%
 

 
40,513

 
121,689

 
21.74

 
75.9
%
 
(Tom Thumb)
 
(Walgreens)
Overton Park Plaza
 
Dallas-Fort Worth-Arlington, TX
 
100.0
%
 

 
350,616

 
460,616

 
13.70

 
95.0
%
 
Sprouts Farmers Market
 
Sports Authority, PetSmart, T.J. Maxx, (Home Depot), Goody Goody Wines, Anna’s Linens, buybuy BABY
Preston Shepard Place
 
Dallas-Fort Worth-Arlington, TX
 
20.0
%
 
(1)(3)
 
72,667

 
363,337

 
16.44

 
98.1
%
 

 
Babies "R" Us, Stein Mart, Nordstrom, Marshalls, Office Depot, Petco
10/Federal
 
Houston-Baytown-Sugar Land, TX
 
15.0
%
 
(1)
 
19,871

 
132,472

 
8.32

 
99.2
%
 
Sellers Bros.
 
Palais Royal, Harbor Freight Tools
1919 North Loop West
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 

 
138,058

 
138,058

 
N/A

 
75.2
%
 

 
State of Texas
Alabama-Shepherd
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 

 
56,969

 
56,969

 
22.68

 
100.0
%
 
Trader Joe's
 
PetSmart
Bellaire Boulevard
 
Houston-Baytown-Sugar Land, TX
 
30.0
%
 
(1)
 
10,524

 
41,273

 
26.74

 
100.0
%
 
Randall’s
 

Blalock Market at I-10
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 

 
97,277

 
97,277

 
15.23

 
100.0
%
 
99 Ranch Market
 

Braeswood Square
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 

 
104,686

 
104,686

 
12.65

 
99.4
%
 
Belden’s
 
Walgreens
Broadway
 
Houston-Baytown-Sugar Land, TX
 
15.0
%
 
(1)
 
11,191

 
74,604

 
6.98

 
92.1
%
 

 
Big Lots, Family Dollar
Centre at Post Oak
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 

 
183,940

 
183,940

 
30.37

 
98.1
%
 

 
Marshalls, Old Navy, Grand Lux Café, Nordstrom Rack, Arhaus
Champions Village
 
Houston-Baytown-Sugar Land, TX
 
30.0
%
 
(1)
 
117,916

 
393,055

 
13.05

 
94.6
%
 
Randall’s
 
Stein Mart, Palais Royal, Cost Plus, Barnes & Noble
Citadel Plaza
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 

 
121,000

 
121,000

 
N/A

 
100.0
%
 

 
Weingarten Realty Investors Corporate Office
Cullen Plaza
 
Houston-Baytown-Sugar Land, TX
 
15.0
%
 
(1)
 
12,678

 
84,517

 
10.78

 
100.0
%
 
Fiesta
 
Family Dollar
Cypress Pointe
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 

 
186,721

 
283,381

 
9.67

 
97.3
%
 
Kroger
 
Babies “R” Us
Cypress Station
 
Houston-Baytown-Sugar Land, TX
100.0
%
 

 
140,924

 
140,924

 
13.96

 
78.3
%
 

 
David's Bridal
Fiesta Village
 
Houston-Baytown-Sugar Land, TX
 
15.0
%
 
(1)
 
4,537

 
30,249

 
8.81

 
100.0
%
 
Fiesta
 

Galveston Place
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 

 
210,537

 
210,537

 
10.55

 
98.5
%
 
Randall’s
 
Office Depot, Palais Royal, Spec's
Glenbrook Square
 
Houston-Baytown-Sugar Land, TX
 
15.0
%
 
(1)
 
11,684

 
77,890

 
8.74

 
89.6
%
 
Kroger
 

Griggs Road
 
Houston-Baytown-Sugar Land, TX
 
15.0
%
 
(1)
 
12,017

 
80,116

 
10.89

 
51.9
%
 

 
Family Dollar, Citi Trends
Harrisburg Plaza
 
Houston-Baytown-Sugar Land, TX
 
15.0
%
 
(1)
 
14,016

 
93,438

 
16.37

 
88.3
%
 

 
Fallas Paredes
HEB - Dairy Ashford & Memorial
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 
(4)
 
36,874

 
36,874

 
N/A

 
100.0
%
 
H-E-B
 

Heights Plaza
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 

 
71,277

 
71,277

 
8.76

 
100.0
%
 
Kroger
 

Humblewood Shopping Plaza
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 

 
180,226

 
279,226

 
14.09

 
100.0
%
 
Kroger
 
Conn’s, Walgreens, (Michaels), (DSW)
I-45/Telephone Rd. Center
 
Houston-Baytown-Sugar Land, TX
 
15.0
%
 
(1)
 
25,740

 
171,599

 
10.86

 
100.0
%
 
Sellers Bros.
 
Famsa, Dollar Tree, Fallas Paredes
Kirby Strip Center
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 

 
10,005

 
10,005

 
26.66

 
100.0
%
 

 
Freebirds Burrito
Lawndale
 
Houston-Baytown-Sugar Land, TX
 
15.0
%
 
(1)
 
7,819

 
52,127

 
10.47

 
100.0
%
 

 
LaMichoacana Meat Market, Family Dollar, 99 Cents Only
League City Plaza
 
Houston-Baytown-Sugar Land, TX
 
15.0
%
 
(1)
 
19,048

 
126,990

 
12.45

 
95.7
%
 
Kroger
 

Little York Plaza
 
Houston-Baytown-Sugar Land, TX
 
15.0
%
 
(1)
 
17,082

 
113,878

 
8.95

 
85.1
%
 
Sellers Bros.
 
Fallas Paredes
Lyons Avenue
 
Houston-Baytown-Sugar Land, TX
 
15.0
%
 
(1)
 
10,144

 
67,629

 
7.73

 
100.0
%
 
Fiesta
 
Fallas Paredes
Market at Town Center
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 

 
388,865

 
388,865

 
18.86

 
98.4
%
 

 
Old Navy, Home Goods, Marshalls, Ross Dress for Less

Page 36


Weingarten Realty Investors
Property Listing
As of September 30, 2013

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Center                                 
 
CBSA                                         
 
Owned %  

 
Foot Notes  
 
Owned GLA 
 
Total GLA
 
Average
Base Rent
 (ABR)
 
Occupancy
%
 
Grocer Anchor                                       
 
Other Anchors      ( ) indicates owned by others
Market at Westchase
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 

 
84,084

 
84,084

 
18.10

 
90.6
%
 
Whole Foods Market
 

Market Street Shopping Center
 
Houston-Baytown-Sugar Land, TX
 
50.0
%
 
(1)
 
24,569

 
49,138

 
6.63

 
98.2
%
 
Sellers Bros.
 
Family Dollar
North Triangle
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 

 
16,060

 
16,060

 
21.74

 
67.6
%
 

 
CiCi’s Pizza
Northbrook Center
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 

 
173,288

 
173,288

 
13.63

 
97.6
%
 
Randall’s
 
Office Depot, Citi Trends, Anna’s Linens, Dollar Tree
Northwest Crossing
 
Houston-Baytown-Sugar Land, TX
 
75.0
%
 
(1)(3)
 
134,602

 
300,190

 
14.34

 
100.0
%
 

 
(Target), Marshalls, Best Buy, Dollar Tree, Big Lots
Oak Forest
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 

 
151,324

 
151,324

 
13.21

 
98.0
%
 
Kroger
 
Ross Dress for Less, Dollar Tree
Palmer Plaza
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 

 
96,526

 
196,506

 
9.44

 
87.4
%
 

 
Dollar Tree
Randall's/Kings Crossing
 
Houston-Baytown-Sugar Land, TX
 
30.0
%
 
(1)
 
37,919

 
126,397

 
16.14

 
96.5
%
 
Randall’s
 
CVS/pharmacy
Richmond Square
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 

 
92,356

 
92,356

 
20.77

 
100.0
%
 

 
Best Buy, Cost Plus
River Oaks East
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 

 
71,265

 
71,265

 
29.42

 
100.0
%
 
Kroger
 

River Oaks West
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 

 
248,663

 
248,663

 
29.42

 
97.0
%
 
Kroger
 
Barnes & Noble, Talbots, Ann Taylor, Gap, JoS. A. Bank
Rose-Rich
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 

 
102,641

 
102,641

 
8.57

 
76.1
%
 

 
Family Dollar, Palais Royal
Shoppes at Memorial Villages
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 

 
187,541

 
187,541

 
7.42

 
79.1
%
 

 
Rexel
Shops at Three Corners
 
Houston-Baytown-Sugar Land, TX
 
70.0
%
 
(1)
 
173,060

 
272,350

 
12.70

 
98.1
%
 
Fiesta
 
Ross Dress for Less, PetSmart, Office Depot, Big Lots
Southgate
 
Houston-Baytown-Sugar Land, TX
 
15.0
%
 
(1)
 
18,789

 
125,260

 
9.61

 
94.6
%
 
Food-A-Rama
 
CVS/pharmacy, Family Dollar, Palais Royal
Spring Plaza
 
Houston-Baytown-Sugar Land, TX
 
15.0
%
 
(1)
 
8,258

 
55,056

 
8.19

 
96.7
%
 
Sellers Bros.
 
Family Dollar
Stella Link
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 

 
70,087

 
70,087

 
9.12

 
96.3
%
 
Sellers Bros.
 
Burke’s Outlet, Spec’s
Village Arcade
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 

 
57,281

 
57,281

 
37.59

 
100.0
%
 

 
Gap, babyGap, Chicos
Village Arcade-Phase II
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 

 
28,371

 
28,371

 
37.59

 
100.0
%
 

 
Talbots
Village Arcade-Phase III
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 

 
107,134

 
107,134

 
37.59

 
95.8
%
 

 
Banana Republic, Express, Ann Taylor
Village Plaza at Bunker Hill
 
Houston-Baytown-Sugar Land, TX
 
57.8
%
 
(1)(3)
 
283,399

 
495,204

 
22.23

 
98.4
%
 
H-E-B
 
PetSmart, Babies "R" Us, Academy, Tiger Direct
Westchase Center
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 

 
232,074

 
331,624

 
12.57

 
100.0
%
 
Randall's
 
(Target), Ross Dress for Less, Golfsmith, Palais Royal, Petco
Westhill Village
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 

 
130,041

 
130,041

 
15.21

 
92.6
%
 

 
Ross Dress for Less, Office Depot, 99 Cents Only, Anna’s Linens
Independence Plaza
 
Laredo, TX
 
100.0
%
 

 
329,307

 
329,307

 
12.25

 
96.7
%
 
H-E-B
 
TJ Maxx, Ross, Hobby Lobby, Petco, Ulta Beauty
North Creek Plaza
 
Laredo, TX
 
100.0
%
 

 
239,897

 
481,764

 
14.22

 
96.5
%
 
(H-E-B)
 
(Target), Marshalls, Old Navy, Best Buy, Bed Bath & Beyond
Plantation Centre
 
Laredo, TX
 
100.0
%
 

 
135,373

 
143,015

 
15.36

 
100.0
%
 
H-E-B
 

Angelina Village
 
Lufkin, TX
 
100.0
%
 

 
248,199

 
248,199

 
9.01

 
91.6
%
 

 
Kmart, Conn's
Las Tiendas Plaza
 
McAllen-Edinburg-Pharr, TX
 
50.0
%
 
(1)(3)
 
143,968

 
500,067

 
10.55

 
96.8
%
 

 
(Target), (Mervyns), Academy, Conn’s, Ross Dress for Less, Marshalls, Office Depot
Market at Nolana
 
McAllen-Edinburg-Pharr, TX
 
50.0
%
 
(1)(3)
 
20,315

 
243,821

 
22.01

 
78.8
%
 
(Walmart Supercenter)
 

Market at Sharyland Place
 
McAllen-Edinburg-Pharr, TX
 
50.0
%
 
(1)(3)
 
56,456

 
301,174

 
18.06

 
95.6
%
 
(Walmart Supercenter)
 
Kohl's, Dollar Tree
Northcross
 
McAllen-Edinburg-Pharr, TX
 
50.0
%
 
(1)(3)
 
37,432

 
74,865

 
16.93

 
89.8
%
 

 
Barnes & Noble
Old Navy Building
 
McAllen-Edinburg-Pharr, TX
 
50.0
%
 
(1)(3)(4)
 
7,500

 
15,000

 
N/A

 
100.0
%
 

 
Old Navy
Sharyland Towne Crossing
 
McAllen-Edinburg-Pharr, TX
 
50.0
%
 
(1)(3)
 
176,520

 
484,949

 
14.93

 
100.0
%
 
H-E-B
 
(Target), T.J. Maxx, Petco, Office Depot, Ross Dress for Less
South 10th St. HEB
 
McAllen-Edinburg-Pharr, TX
 
50.0
%
 
(1)(3)
 
51,851

 
103,702

 
11.43

 
100.0
%
 
H-E-B
 

Starr Plaza
 
Rio Grande City, TX
 
50.0
%
 
(1)(3)
 
88,346

 
176,693

 
11.74

 
99.0
%
 
H-E-B
 
Bealls
Fiesta Trails
 
San Antonio, TX
 
100.0
%
 

 
306,370

 
482,370

 
15.31

 
98.4
%
 
(H-E-B)
 
(Target), Act III Theatres, Marshalls, Office Max, Stein Mart, Petco, Anna’s Linens
Oak Park Village
 
San Antonio, TX
 
30.0
%
 
(1)
 
19,286

 
64,287

 
9.54

 
100.0
%
 
H-E-B
 


Page 37


Weingarten Realty Investors
Property Listing
As of September 30, 2013

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Center                                 
 
CBSA                                         
 
Owned %  

 
Foot Notes  
 
Owned GLA 
 
Total GLA
 
Average
Base Rent
 (ABR)
 
Occupancy
%
 
Grocer Anchor                                       
 
Other Anchors      ( ) indicates owned by others
Parliament Square
 
San Antonio, TX
 
100.0
%
 

 
64,950

 
64,950

 
10.70

 
82.9
%
 

 
Family Dollar
Parliament Square II
 
San Antonio, TX
 
100.0
%
 
(4)
 
54,541

 
54,541

 
N/A

 
100.0
%
 

 
Incredible Pizza
Thousand Oaks
 
San Antonio, TX
 
15.0
%
 
(1)
 
24,348

 
162,322

 
10.78

 
95.4
%
 
H-E-B
 
Bealls, Tuesday Morning
Valley View
 
San Antonio, TX
 
100.0
%
 

 
91,544

 
91,544

 
11.39

 
95.7
%
 

 
Marshalls, Dollar Tree
Westwood Center
 
San Antonio, TX
 
100.0
%
 

 
68,674

 
77,679

 
17.83

 
86.1
%
 

 
(Walmart)
Broadway
 
Tyler, TX
 
100.0
%
 

 
60,400

 
60,400

 
8.06

 
96.2
%
 

 
Stein Mart
Texas Total:
 
# of Properties:
79

 
 
 
 
8,141,764

 
13,758,318

 
15.14

 
95.1
%
 
 
 
 
Utah
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Alpine Valley Center
 
Provo-Orem, UT
 
33.3
%
 
(1)(3)
 
30,382

 
224,654

 
16.25

 
100.0
%
 
(Super Target)
 
Old Navy, Justice, Dollar Tree, Office Depot
300 West
 
Salt Lake City, UT
 
31.8
%
 
(1)(3)
 
14,009

 
182,119

 
24.65

 
100.0
%
 

 
(Target)
Taylorsville Town Center
 
Salt Lake City, UT
 
100.0
%
 

 
90,157

 
130,214

 
17.43

 
92.8
%
 
The Fresh Market
 
Rite Aid
West Jordan Town Center
 
Salt Lake City, UT
 
100.0
%
 

 
182,099

 
304,899

 
11.74

 
89.5
%
 

 
(Target), Petco, Office Depot
Utah Total:
 
# of Properties:
4

 
 
 
 
316,647

 
841,886

 
14.05

 
91.9
%
 
 
 
 
Washington
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Meridian Town Center
 
Seattle-Tacoma-Bellevue, WA
 
20.0
%
 
(1)(3)
 
15,533

 
143,012

 
16.69

 
98.7
%
 
(Safeway)
 
Jo-Ann Fabric & Craft Store, Tuesday Morning
Mukilteo Speedway Center
 
Seattle-Tacoma-Bellevue, WA
 
20.0
%
 
(1)(3)
 
18,055

 
90,273

 
N/A

 


 

 
Dollar Tree
Promenade 23
 
Seattle-Tacoma-Bellevue, WA
 
100.0
%
 

 
96,660

 
96,660

 
15.34

 
85.5
%
 
Red Apple Grocers
 
Walgreens
Queen Anne Marketplace
 
Seattle-Tacoma-Bellevue, WA
 
51.0
%
 
(1)(3)
 
33,839

 
81,385

 
22.84

 
100.0
%
 
Metropolitan Market
 
(Bartell's Drug)
Rainer Square Plaza
 
Seattle-Tacoma-Bellevue, WA
 
20.0
%
 
(1)(3)
 
22,161

 
110,803

 
19.13

 
100.0
%
 
Safeway
 
Ross Dress for Less
South Hill Center
 
Seattle-Tacoma-Bellevue, WA
 
20.0
%
 
(1)(3)
 
26,802

 
134,010

 
16.73

 
96.3
%
 

 
Bed Bath & Beyond, Ross Dress for Less, Best Buy
Washington Total:
 
# of Properties:
6

 
 
 
 
213,050

 
656,143

 
17.44

 
92.2
%
 
 
 
 
Total Operating Properties
 
# of Properties:
271

 
 
 
 
29,920,797

 
50,081,877

 
 
 
 
 
 
 
 
New Development
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Texas
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Tomball Marketplace
 
Houston-Baytown-Sugar Land, TX
 
100.0
%
 
(2)
 
137,965

 
295,786

 
 
 
 
 
 
 
 
Texas Total:
 
# of Properties:
1

 
 
 
 
137,965

 
295,786

 
 
 
 
 
 
 
 
Virginia
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Hilltop Village
 
Washington, DC-VA-MD-WV
 
100.0
%
 
(1)(2)
 
0

 
0

 
 
 
 
 
 
 
 
Virginia Total:
 
# of Properties:
1

 
 
 
 
0

 
0

 
 
 
 
 
 
 
 
Total New Developments
 
# of Properties:
2

 
 
 
 
137,965

 
295,786

 
 
 
 
 
 
 
 
Unimproved Land
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Arizona
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Bullhead Parkway at State Route 95, Bullhead City
 
 
 
 
 
 
 
312,761

 
 
 
 
 
 
 
 
Lon Adams Rd at Tangerine Farms Rd, Marana
 
 
 
 
 
 
 
422,532

 
 
 
 
 
 
 
 
Southern Avenue and Signal Butte Road, Mesa
 
 
 
 
 
 
 
63,162

 
 
 
 
 
 
 
 
Arizona Total:
 
 
 
 
 
 
 
798,455

 
 
 
 
 
 
 
 

Page 38


Weingarten Realty Investors
Property Listing
As of September 30, 2013

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Center                                 
 
CBSA                                         
 
Owned %  

 
Foot Notes  
 
Owned GLA 
 
Total GLA
 
Average
Base Rent
 (ABR)
 
Occupancy
%
 
Grocer Anchor                                       
 
Other Anchors      ( ) indicates owned by others
California
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Bear Valley Road at Jess Ranch Parkway Phase II, Apple Valley
 
 
 
 
 
 
 
138,956

 
 
 
 
 
 
 
 
Bear Valley Road at Jess Ranch Parkway Phase III, Apple Valley
 
 
 
 
 
 
 
473,497

 
 
 
 
 
 
 
 
California Total:
 
 
 
 
 
 
 
612,453

 
 
 
 
 
 
 
 
Colorado
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Highway 85 and Highway 285, Sheridan
 
 
 
 
 
 
 
792,792

 
 
 
 
 
 
 
 
Colorado Total:
 
 
 
 
 
 
 
792,792

 
 
 
 
 
 
 
 
Florida
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Young Pines and Curry Ford Rd, Orange County
 
 
 
 
 
132,422

 
 
 
 
 
 
 
 
State Road 100 & Belle Terre Parkway, Palm Coast
 
 
 
 
 
 
 
292,288

 
 
 
 
 
 
 
 
SR 207 at Rolling Hills Dr, St. Augustine
 
 
 
 
 
 
 
228,254

 
 
 
 
 
 
 
 
Florida Total:
 
 
 
 
 
 
 
652,964

 
 
 
 
 
 
 
 
Georgia
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
NWC South Fulton Pkwy. @ Hwy. 92, Union City
 
 
 
 
 
 
 
3,554,496

 
 
 
 
 
 
 
 
Georgia Total:
 
 
 
 
 
 
 
3,554,496

 
 
 
 
 
 
 
 
Louisiana
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ambassador Caffery at W. Congress, Lafayette
 
 
 
 
 
 
 
34,848

 
 
 
 
 
 
 
 
Louisiana Total:
 
 
 
 
 
 
 
34,848

 
 
 
 
 
 
 
 
Nevada
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SWC Highway 215 at Decatur, Las Vegas
 
 
 
 
 
 
 
639,896

 
 
 
 
 
 
 
 
Nevada Total:
 
 
 
 
 
 
 
639,896

 
 
 
 
 
 
 
 
North Carolina
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Hwy. 17 & U.S. Hwy. 74/76, Leland
 
 
 
 
 
 
 
549,727

 
 
 
 
 
 
 
 
Creedmoor (Highway 50) and Crabtree Valley Avenue, Raleigh
 
 
 
 
 
 
 
510,959

 
 
 
 
 
 
 
 
Highway 17 and Highway 210, Surf City
 
 
 
 
 
 
 
2,024,233

 
 
 
 
 
 
 
 
U.S. Highway 1 at Caveness Farms Rd., Wake Forest
 
 
 
 
 
 
 
1,637,420

 
 
 
 
 
 
 
 
North Carolina Total:
 
 
 
 
 
 
 
4,722,339

 
 
 
 
 
 
 
 
Tennessee
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Poplar Avenue and Ridgeway Road, Memphis
 
 
 
 
 
 
 
53,579

 
 
 
 
 
 
 
 
Tennessee Total:
 
 
 
 
 
 
 
53,579

 
 
 
 
 
 
 
 
Texas
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. 77 and 83 at SHFM 802, Brownsville
 
 
 
 
 
 
 
914,723

 
 
 
 
 
 
 
 
Rock Prairie Rd. at Hwy. 6, College Station
 
 
 
 
 
 
 
394,218

 
 
 
 
 
 
 
 
I-30 & Horne Street, Ft Worth, TX
 
 
 
 
 
 
 
58,370

 
 
 
 
 
 
 
 
Leslie Rd. at Bandera Rd., Helotes
 
 
 
 
 
 
 
74,052

 
 
 
 
 
 
 
 
Bissonnet at Wilcrest, Houston
 
 
 
 
 
 
 
40,946

 
 
 
 
 
 
 
 
Citadel Plaza at 610 North Loop, Houston
 
 
 
 
 
 
 
137,214

 
 
 
 
 
 
 
 
East Orem, Houston
 
 
 
 
 
 
 
121,968

 
 
 
 
 
 
 
 

Page 39


Weingarten Realty Investors
Property Listing
As of September 30, 2013

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Center                                 
 
CBSA                                         
 
Owned %  

 
Foot Notes  
 
Owned GLA 
 
Total GLA
 
Average
Base Rent
 (ABR)
 
Occupancy
%
 
Grocer Anchor                                       
 
Other Anchors      ( ) indicates owned by others
Kirkwood at Dashwood Drive, Houston
 
 
 
 
 
 
 
321,908

 
 
 
 
 
 
 
 
Mesa Road at Tidwell, Houston
 
 
 
 
 
 
 
105,501

 
 
 
 
 
 
 
 
Northwest Freeway at Gessner, Houston
 
 
 
 
 
 
 
117,612

 
 
 
 
 
 
 
 
West Little York at Interstate 45, Houston
 
 
 
 
 
 
 
161,172

 
 
 
 
 
 
 
 
Nolana Ave. and 29th St., McAllen
 
 
 
 
 
 
 
163,350

 
 
 
 
 
 
 
 
Shary Rd. at North Hwy. 83, Mission
 
 
 
 
 
 
 
1,560,319

 
 
 
 
 
 
 
 
9th Ave. at 25th St., Port Arthur
 
 
 
 
 
 
 
243,065

 
 
 
 
 
 
 
 
Gattis School Rd at A.W. Grimes Blvd, Round Rock
 
 
 
 
 
 
 
57,499

 
 
 
 
 
 
 
 
FM 1957 (Potranco Road) and FM 211, San Antonio
 
 
 
 
 
 
 
8,655,372

 
 
 
 
 
 
 
 
SH 151 and Ingram Rd, San Antonio
 
 
 
 
 
 
 
252,692

 
 
 
 
 
 
 
 
US Hwy. 281 at Wilderness Oaks, San Antonio
 
 
 
 
 
 
 
1,269,774

 
 
 
 
 
 
 
 
Highway 3 at Highway 1765, Texas City
 
 
 
 
 
 
 
200,812

 
 
 
 
 
 
 
 
FM 2920 and Highway 249, Tomball
 
 
 
 
 
 
 
459,776

 
 
 
 
 
 
 
 
Texas Total:
 
 
 
 
 
 
 
15,310,343

 
 
 
 
 
 
 
 
Utah
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
South 300 West & West Paxton Avenue, Salt Lake City
 
 
 
 
 
 
 
201,683

 
 
 
 
 
 
 
 
Utah Total:
 
 
 
 
 
 
 
201,683

 
 
 
 
 
 
 
 
Total Unimproved Land
 
 
 
 
 
 
 
27,373,848

 
 
 
 
 
 
 
 



Page 40












Other Topics of Interest




Weingarten Realty Investors
Reconciliation of Impairment Transactions
(in thousands, except per share amounts)

 
Three Months Ended
September 30, 2013
 
Nine Months Ended
September 30, 2013
 
 
 
Per Share
 
 
 
Per Share
Summary of Impaired Items (at pro rata) :
 
 
 
 
 
 
 
Land Held for Development and Undeveloped Land (1)
$
2,358

 
$
0.02

 
$
2,358

 
$
0.02

Properties Marketed for Sale or Sold (2)
29

 

 
687

 
0.01

Other

 

 
165

 

Total Impairment Loss
$
2,387

 
$
0.02

 
$
3,210

 
$
0.03

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Financial Statement Impact of Impairment Loss:
 
 
 
 
 
 
 
Impairment Loss
$
2,358

 
$
0.02

 
$
2,579

 
$
0.03

Discontinued Operations

 

 
236

 

Equity in Earnings of Real Estate Joint Ventures and Partnerships, net
29

 

 
395

 

Total Impairment Loss
$
2,387

 
$
0.02

 
$
3,210

 
$
0.03




(1)
Amounts reported were prompted by changes in management's plans for these properties, recent comparable market transactions and/or a change in market conditions.
(2)
Amounts reported are based on third party offers.




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