Notes

and Mortgages

Payable

Notes Payable -

February 2017,

the Company closed on a

$2.25

billion unsecured revolving credit facility

(the “Credit Facility”) with a group of banks, which is scheduled to expire in

March 2021,

with

two

additional

six

month options to extend the maturity date, at the Company’s discretion, to

March 2022.

This Credit Facility, which accrues interest at a rate of LIBOR plus

87.5

basis points (

2.10%

as of

September 30, 2017),

can be increased to

$2.75

billion through an accordion feature. The Credit Facility replaced the Company’s

$1.75

billion unsecured revolving credit facility that was scheduled to mature in

March 2018.

In addition, the Credit Facility includes a

$500.0

million sub-limit which provides the company the opportunity to borrow in alternative currencies including Canadian Dollars, British Pounds Sterling, Japanese Yen or Euros. Pursuant to the terms of the Credit Facility, the Company, among other things, is subject to covenants requiring the maintenance of (i) maximum leverage ratios on both unsecured and secured debt and (ii) minimum interest and fixed coverage ratios. As of

September 30, 2017,

the Credit Facility had a balance of

$25.0

million outstanding and

$0.5

million appropriated for letters of credit.

During the

nine

months ended

September 30, 2017,

the Company issued the following Senior Unsecured Notes (amounts in millions):

Date Issued	Maturity Date	Amount Issued		Interest Rate
Mar-17	Apr-27	$	400.0		3.80	%
Aug-17	Feb-25	$	500.0		3.30	%
Aug-17	Sept-47	$	350.0		4.45	%

During the

nine

months ended

September 30, 2017,

the Company repaid the following notes (amounts in millions):

Type	Date Paid	Amount Repaid		Interest Rate		Maturity Date
Term Loan	Jan-17	$	250.0	(a)		Jan-17
Medium Term Notes (“MTN”) (b)	Aug-17	$	211.0		4.30%	Feb-18

(a)

Interest rate was equal to LIBOR +

0.95%.

(b)

August 1, 2017,

the Company made a tender offer to purchase any and all of these MTN notes outstanding. As a result, the Company accepted the tender of

$211.0

million of its

$300.0

million outstanding MTN notes on

August 10, 2017.

In connection with this tender offer, the Company recorded a tender premium of

$1.8

million resulting from the partial repayment of the MTN notes. Subsequently, in

October 2017,

the Company announced its intention to redeem the remaining

$89.0

million outstanding on

November 1, 2017.

Mortgages Payable -

During the

nine

months ended

September 30, 2017,

the Company (i) consolidated

$212.2

million of individual non-recourse mortgage debt (including a fair market value adjustment of

$6.2

million) relating to a joint venture operating property which the Company now controls, (ii) paid off

$684.6

million of maturing mortgage debt (including fair market value adjustments of

$5.7

million) that encumbered

operating properties and (iii)

obtained a

$206.0

million non-recourse mortgage relating to

one

operating property.