Attached files
| file | filename |
|---|---|
| EX-10.15 - EXHIBIT 10.15 - TAUBMAN CENTERS INC | a2019q4exhibit1015.htm |
| EX-31.1 - EXHIBIT 31.1 - TAUBMAN CENTERS INC | a2019q4exhibit311.htm |
| EX-4.4.3 - EXHIBIT 4.4.3 - TAUBMAN CENTERS INC | a2019q4exhibit443.htm |
| EX-10.12 - EXHIBIT 10.12 - TAUBMAN CENTERS INC | a2019q4exhibit1012.htm |
| EX-32.1 - EXHIBIT 32.1 - TAUBMAN CENTERS INC | a2019q4exhibit321.htm |
| EX-32.2 - EXHIBIT 32.2 - TAUBMAN CENTERS INC | a2019q4exhibit322.htm |
| EX-21 - EXHIBIT 21 - TAUBMAN CENTERS INC | a2019q4exhibit21.htm |
| EX-4.4.2 - EXHIBIT 4.4.2 - TAUBMAN CENTERS INC | a2019q4exhibit442.htm |
| EX-23 - EXHIBIT 23 - TAUBMAN CENTERS INC | a2019q4exhibit23.htm |
| EX-4.4.1 - EXHIBIT 4.4.1 - TAUBMAN CENTERS INC | a2019q4exhibit441.htm |
| 10-K - 10-K - TAUBMAN CENTERS INC | tco-20191231x10k.htm |
| EX-31.2 - EXHIBIT 31.2 - TAUBMAN CENTERS INC | a2019q4exhibit312.htm |
Exhibit 99 | ||||||||||||||||||||||||||||||||||||||||||
UNCONSOLIDATED JOINT VENTURES OF THE TAUBMAN REALTY GROUP LIMITED PARTNERSHIP | ||||||||||||||||||||||||||||||||||||||||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||||||||||||||||||||||||||||||||||||||||
December 31, 2019 | ||||||||||||||||||||||||||||||||||||||||||
(in thousands) | ||||||||||||||||||||||||||||||||||||||||||
Initial Cost to Company | Gross Amount at Which Carried at Close of Period | |||||||||||||||||||||||||||||||||||||||||
Land | Buildings, Improvements, and Equipment | Cost Capitalized Subsequent to Acquisition | Land | Buildings, Improvements, and Equipment | Total | Accumulated Depreciation (A/D) | Total Cost Net of A/D | Encumbrances | Year Opened / Expanded | Year Acquired | Depreciable Life | |||||||||||||||||||||||||||||||
Shopping Centers: | ||||||||||||||||||||||||||||||||||||||||||
CityOn.Xi'an, Xi'an,China | $ | 38,105 | $ | 232,088 | $ | 29,693 | $ | 38,105 | $ | 261,781 | $ | 299,886 | $ | 38,297 | $ | 261,589 | $ | 155,562 | 2016 | 50 Years | ||||||||||||||||||||||
CityOn.Zhengzhou, Zhengzhou,China | 51,976 | 250,113 | 1,269 | 51,976 | 251,382 | 303,358 | 28,986 | 274,372 | 2017 | 50 Years | ||||||||||||||||||||||||||||||||
Country Club Plaza, Kansas City, MO | 29,917 | 525,244 | 29,070 | 29,917 | 554,314 | 584,231 | 57,253 | 526,978 | 316,169 | 1922 / 1977 / 2000 / 2015 | 2016 | 50 Years | ||||||||||||||||||||||||||||||
Fair Oaks, Fairfax, VA | 7,666 | 33,147 | 118,716 | 7,666 | 151,863 | 159,529 | 88,266 | 71,263 | 254,534 | 1980 / 1987 / 1988 / 2000 | 55 Years | |||||||||||||||||||||||||||||||
The Gardens Mall, Palm Beach Gardens, FL | 20,048 | 113,178 | 1,977 | 20,048 | 115,155 | 135,203 | 67,032 | 68,171 | 195,000 | 1988 / 2005 | 2019 | 50 Years | ||||||||||||||||||||||||||||||
International Plaza, Tampa, FL | 281,473 | 46,388 | 327,861 | 327,861 | 156,450 | 171,411 | 456,393 | 2001 / 2015 | 50 Years | |||||||||||||||||||||||||||||||||
The Mall at Millenia, Orlando, FL | 22,517 | 167,052 | 7,267 | 22,517 | 174,319 | 196,836 | 78,285 | 118,551 | 450,000 | 2002 | 50 Years | |||||||||||||||||||||||||||||||
Stamford Town Center, Stamford, CT | 8,652 | 40,044 | 5,776 | 8,652 | 45,820 | 54,472 | (1) | 54,472 | 1982 / 2007 | 40 Years | ||||||||||||||||||||||||||||||||
Starfield Hanam, Hanam, South Korea | 241,519 | 609,167 | 10,308 | 241,519 | 619,475 | 860,994 | 96,168 | 764,826 | 321,964 | 2016 | 50 Years | |||||||||||||||||||||||||||||||
Sunvalley, Concord, CA | 350 | 65,740 | 64,519 | 350 | 130,259 | 130,609 | 78,462 | 52,147 | 165,053 | 1967 / 1981 | 2002 | 40 Years | ||||||||||||||||||||||||||||||
The Mall at University Town Center, Sarasota, FL | 78,008 | 231,592 | 8,134 | 78,008 | 239,726 | 317,734 | 65,555 | 252,179 | 280,000 | 2014 | 50 Years | |||||||||||||||||||||||||||||||
Waterside Shops, Naples, FL | 12,604 | 66,930 | 76,271 | 12,604 | 143,201 | 155,805 | 57,947 | 97,858 | 165,000 | 1992 / 2006 / 2008 | 2003 | 50 Years | ||||||||||||||||||||||||||||||
Westfarms, Farmington, CT | 5,287 | 38,638 | 168,226 | 5,287 | 206,864 | 212,151 | 130,139 | 82,012 | 275,577 | 1974 / 1983 / 1997 | 34 Years | |||||||||||||||||||||||||||||||
Other: | ||||||||||||||||||||||||||||||||||||||||||
Taubman Land Associates (Sunvalley), Concord, CA | 42,693 | 42,693 | 42,693 | 42,693 | 20,630 | 2006 | ||||||||||||||||||||||||||||||||||||
Peripheral Land | 4 | 4 | 4 | 4 | ||||||||||||||||||||||||||||||||||||||
Construction in Process and Development - Pre-construction costs | 35,557 | 35,557 | 35,557 | 35,557 | ||||||||||||||||||||||||||||||||||||||
Total | $ | 559,346 | $ | 2,654,406 | $ | 603,171 | $ | 559,346 | $ | 3,257,577 | $ | 3,816,923 | (2) (3) | $ | 942,840 | $ | 2,874,083 | |||||||||||||||||||||||||
Exhibit 99 | ||||||||||||||||||||||||||||||||||||||||||
UNCONSOLIDATED JOINT VENTURES OF THE TAUBMAN REALTY GROUP LIMITED PARTNERSHIP | ||||||||||||||||||||||||||||||||||||||||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||||||||||||||||||||||||||||||||||||||||
December 31, 2019 | ||||||||||||||||||||||||||||||||||||||||||
(in thousands) | ||||||||||||||||||||||||||||||||||||||||||
The changes in total real estate assets and accumulated depreciation for the years ended December 2019, 2018, and 2017 are as follows: | ||||||||||||||||||||||||||||||||||||||||||
Total Real Estate Assets | Accumulated Depreciation | |||||||||||||||||||||||||||||||||||||||||
2019 | 2018 | 2017 | 2019 | 2018 | 2017 | |||||||||||||||||||||||||||||||||||||
Balance, beginning of year | $ | 3,728,846 | $ | 3,756,890 | $ | 3,371,216 | Balance, beginning of year | $ | (869,375 | ) | $ | (767,678 | ) | $ | (661,611 | ) | ||||||||||||||||||||||||||
New development and improvements | 87,641 | 41,771 | 363,601 | Depreciation for year | (99,639 | ) | (109,582 | ) | (119,261 | ) | ||||||||||||||||||||||||||||||||
Acquisitions | 133,226 | Acquisitions | (63,845 | ) | ||||||||||||||||||||||||||||||||||||||
Disposals/Write-offs | (98,642 | ) | (1) | (21,135 | ) | (78,189 | ) | (4) | Disposals/Write-offs | 91,301 | (1) | 5,456 | 14,654 | |||||||||||||||||||||||||||||
Changes in exchange rates | (34,149 | ) | (48,680 | ) | 100,262 | Changes in exchange rates | (1,283 | ) | 2,429 | (1,460 | ) | |||||||||||||||||||||||||||||||
Balance, end of year | $ | 3,816,923 | $ | 3,728,846 | $ | 3,756,890 | Balance, end of year | $ | (942,840 | ) | $ | (869,375 | ) | $ | (767,678 | ) | ||||||||||||||||||||||||||
(1) In December 2019, we concluded that the carrying value of Stamford Town Center was impaired and impairment charge was recognized reducing the net book value by $5.7 million. As a result of the impairment, the related accumulated deprecation was set to zero. | ||||||||||||||||||||||||||||||||||||||||||
(2) Excludes $165.9 million (including cumulative translation adjustments) relating to our investment in Starfield Anseong, which is currently under development in Asia. | ||||||||||||||||||||||||||||||||||||||||||
(3) The unaudited aggregate cost for federal income tax purposes as of December 31, 2019 was $4.537 billion. | ||||||||||||||||||||||||||||||||||||||||||
(4) Primarily represents the book balance of the Valencia Place office tower at Country Club Plaza, which was sold in March 2017. | ||||||||||||||||||||||||||||||||||||||||||