Mortgage and Unsecured Debt As of December 31, 2025 (Dollars in thousands)
(28) Variable rate loan based on Overnight SONIA plus an interest rate spread of 250bps. Through an interest rate swap agreement, Overnight SONIA is fixed at 4.992%. (29) Consists of one property with an interest rate of 5.65% and maturity in 2025. The mortgage was outstanding as of December 31, 2025. (30) Amount shown in USD equivalent. Euro equivalent is 1.4 billion. (31) Our share of total indebtedness includes a pro rata share of the mortgage debt on joint venture properties, including The Mills Limited Partnership. To the extent total indebtedness is secured by a property, it is non-recourse to us, with the exception of approximately $118.8 million of payment guarantees provided by the Operating Partnership. (32) Amount shown in USD equivalent. Peso equivalent is 358.5 million. (33) Variable rate loan based on 3M EURIBOR plus an interest rate spread of 200bps. Through an interest rate cap agreement, 3M Euribor is currently fixed at 2.00%. (34) Variable rate loan based on 30 day Average SOFR plus an interest rate spread of 275 bps. As of December 31, 2025, 30 day Average SOFR was 3.7866%. (35) Variable rate loan based on Overnight SONIA plus an interest rate spread of 215bps. Through an interest rate swap agreement, Overnight SONIA is fixed at 2.14% for a portion of the balance. As of December 31, 2025, Overnight SONIA was 3.726%. (36) Variable rate loan based on 1M SOFR plus an interest rate spread of 230 bps. Through an interest rate cap agreement, 1M SOFR is currently fixed at 4.00%. (37) Variable rate loan based on one-month CAD-CORRA plus an interest rate spread of 159 bps. As of December 31, 2025, CAD-CORRA was 2.30%. (38) Variable rate loan based on 1M SOFR plus an interest rate spread of 305 bps. Through an interest rate cap agreement, 1M SOFR is currently fixed at 3.89%. (39) Variable rate loan based on one-month CAD-CORRA plus an interest rate spread of 215 bps. Through an interest rate swap agreement, CAD-CORRA is currently fixed at 3.67% on a portion of the balance. As of December 31, 2025, CAD-CORRA was 2.30%. (40) Amount shown in USD equivalent. Euro equivalent is 350.0 million. (41) Notes exchangeable into ordinary shares of Klépierre S.A. at a common price of €27.0693. (42) Variable rate loan based on 3M EURIBOR plus an interest rate spread of 270bps. Through an interest rate cap agreement, 3M Euribor is currently fixed at 1.75%. (43) Amounts shown in USD Equivalent. CNY Equivalent is 1.3 billion. (44) Variable rate loan based on 1M Term SOFR plus an interest rate spread of 163bps. Through interest rate swap agreements, 1M Term SOFR is currently fixed at 3.716%.
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