TAUBMAN CENTERS INC - FORM 10-K - EX-99 - EXHIBIT 99 - February 23, 2017

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EX-32.2 - EXHIBIT 32.2 - TAUBMAN CENTERS INCa2016q4exhibit322.htm
EX-32.1 - EXHIBIT 32.1 - TAUBMAN CENTERS INCa2016q4exhibit321.htm
EX-31.2 - EXHIBIT 31.2 - TAUBMAN CENTERS INCa2016q4exhibit312.htm
EX-31.1 - EXHIBIT 31.1 - TAUBMAN CENTERS INCa2016q4exhibit311.htm
EX-23 - EXHIBIT 23 - TAUBMAN CENTERS INCa2016q4exhibit23.htm
EX-21 - EXHIBIT 21 - TAUBMAN CENTERS INCa2016q4exhibit21.htm
EX-12 - EXHIBIT 12 - TAUBMAN CENTERS INCa2016q4exhibit12.htm
EX-10.16.3 - EXHIBIT 10.16.3 - TAUBMAN CENTERS INCa2016q4exhibit10163.htm
EX-10.16.2 - EXHIBIT 10.16.2 - TAUBMAN CENTERS INCa2016q4exhibit10162.htm
EX-10.11.1 - EXHIBIT 10.11.1 - TAUBMAN CENTERS INCa2016q4exhibit10111.htm
EX-10.8 - EXHIBIT 10.8 - TAUBMAN CENTERS INCa2016q4exhibit108.htm
10-K - 10-K - TAUBMAN CENTERS INCtco-123116x10k.htm


 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Exhibit 99
 
UNCONSOLIDATED JOINT VENTURES OF THE TAUBMAN REALTY GROUP LIMITED PARTNERSHIP
 
 
 
 
REAL ESTATE AND ACCUMULATED DEPRECIATION
 
 
 
 
December 31, 2016
 
 
 
 
(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 (1)
Year Opened / Expanded
Year Acquired
Depreciable Life
Shopping Centers:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CityOn.Xi'an, Xi'an,China
$
37,463

 
$
231,803

 
 
$
37,463

$
231,803

$
269,266

 
$
5,990

 
$
263,276

 
 
2016
 
50 Years
Country Club Plaza, Kansas City, MO
32,253

 
586,262

 
 
32,253

586,262

618,515

 
14,088

 
604,427

 
$
320,000

1922 / 1977 / 2000 / 2015
2016
50 Years
Fair Oaks, Fairfax, VA
7,666

 
33,147

 
108,639

7,666

141,786

149,452

 
78,042

 
71,410

 
265,067

1980 / 1987 / 1988 / 2000
 
55 Years
International Plaza, Tampa, FL
 
 
281,473

 
30,301

 
311,774

311,774

 
132,534

 
179,240

 
483,887

2001 / 2015
 
50 Years
The Mall at Millenia, Orlando, FL
22,517

 
177,322

 
645

22,517

177,967

200,484

 
78,374

 
122,110

 
400,000

2002
 
50 Years
Stamford Town Center, Stamford, CT
9,537

 
40,044

 
99,207

9,537

139,251

148,788

 
76,284

 
72,504

 
 
1982 / 2007
 
40 Years
Starfield Hanam, Hanam, South Korea
230,795

 
605,662

 
 
230,795

605,662

836,457

 
9,353

 
827,104

 
310,467

2016
 
50 Years
Sunvalley, Concord, CA
350

 
65,740

 
54,702

350

120,442

120,792

 
67,542

 
53,250

 
176,375

1967 / 1981
2002
40 Years
The Mall at University Town Center, Sarasota, FL
78,008

 
231,592

 
6,930

78,008

238,522

316,530

 
28,343

 
288,187

 
280,000

2014
 
50 Years
Waterside Shops, Naples, FL
12,604

 
66,930

 
74,961

12,604

141,891

154,495

 
55,853

 
98,642

 
165,000

1992 / 2006 / 2008
2003
50 Years
Westfarms, Farmington, CT
5,287

 
38,638

 
155,762

5,287

194,400

199,687

 
115,208

 
84,479

 
295,343

1974 / 1983 / 1997
 
34 Years
Other:
 
 
 
 
 
 
 


 
 
 

 
 
 
 
 
Taubman Land Associates
     (Sunvalley), Concord, CA
42,693

 
 
 
 
42,693

 
42,693

 
 
 
42,693

 
22,171

2006
 
 
Peripheral Land
4

 
 
 
 
4

 
4

 
 
 
4

 
 
 
 
 
Construction in Process and Development
     - Pre-construction costs (3)
 
 
 
 
2,279

 
2,279

2,279

 
 
 
2,279

 
 
 
 
 
Total
$
479,177

 
$
2,358,613

 
$
533,426

$
479,177

$
2,892,039

$
3,371,216

(2) (3) 
$
661,611

 
$
2,709,605

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Exhibit 99
 
 
UNCONSOLIDATED JOINT VENTURES OF THE TAUBMAN REALTY GROUP LIMITED PARTNERSHIP
 
 
 
 
 
REAL ESTATE AND ACCUMULATED DEPRECIATION
 
 
 
 
 
December 31, 2016
 
 
 
 
 
(in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The changes in total real estate assets and accumulated depreciation for the years ended December 2016, 2015, and 2014 are as follows:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total Real Estate Assets
 
 
 
 
Accumulated Depreciation
 
 
 
 
 
2016
 
2015
 
2014
 
 
 
 
2016
 
2015
 
2014
 
 
 
 
Balance, beginning of year
$
1,628,492

 
$
1,580,926

 
$
1,305,658

 
Balance, beginning of year
$
(589,145
)
 
$
(548,646
)
 
$
(478,820
)
 
 
 
 
Acquisitions
618,515

 
 
 
 
 
Depreciation for year
(80,093
)
 
(49,951
)
 
(40,898
)
 
 
 
 
New development and improvements
1,131,952

 
57,344

 
193,394

 
Disposals
 
 
7,627

 
9,452

 
81,287

(4) 
 
 
 
Disposals/Write-offs
(7,743
)
 
(9,778
)
 
(201,446
)
(4) 
Transfers (In) Out
 
 
 
 
(110,215
)
(4) 
 
 
 
Transfers In (Out)
 
 
 
 
283,320

(5) 
Balance, end of year
$
(661,611
)
 
$
(589,145
)
 
$
(548,646
)
(5) 
 
 
 
Balance, end of year
$
3,371,216

 
$
1,628,492

 
$
1,580,926

 
 


 

 

 
 
 
 
 
 
 
 
 
 
 
(1) Excludes $70.5 million of encumbrances relating to the Company's construction loans on CityOn.Zhengzhou under development in Asia.
 
(2) Excludes $156.0 million relating to the Company's investments in CityOn.Zhengzhou under development in Asia, including cumulative translation adjustments.
 
(3) The unaudited aggregate cost for federal income tax purposes as of December 31, 2016 was $2.949 billion.
 
(4) Primarily represents book balances of Arizona Mills, which was sold in January 2014.
 
(5) Primarily represents the book balances of International Plaza. In January 2014, the Company sold a total of 49.9% of its interests in the entity that owns International Plaza. The disposition decreased the Company's ownership in the center to a noncontrolling 50.1% interest. Prior to the disposition, International Plaza was accounted for as a consolidated center.
 


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