Mortgage and Unsecured Debt As of December 31, 2024 (Dollars in thousands)
(35) Variable rate loan based on Overnight SONIA plus an interest rate spread of 215 bps. Through an interest rate swap agreement, Overnight SONIA is fixed at 2.14% for a portion of the balance. (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 3.00%. (37) Variable rate loan based on one-month CAD-CORRA plus an interest rate spread of 159 bps. CORRA as of December 31, 2024 was 3.32%. (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 3.00%. (39) Variable rate loan based on one-month CAD-CORRA plus an interest rate spread of 215 bps. Through interest rate swap agreements, CDOR is currently fixed at rates ranging from 3.66% to 3.99% for a portion of the balance. (40) Variable rate loan based on 1M SOFR plus an interest rate spread of 300 bps. Through an interest rate swap agreement, 1M SOFR is currently fixed at 4.44% on a portion of the balance. 1M SOFR is currently 4.33%. (41) Amount shown in USD equivalent. Euro equivalent is €18.0 million. (42) Amounts shown in USD Equivalent. IDR Equivalent is 321.8 billion. (43) Variable rate loan based on 1M SOFR, which is subject to a floor of 0.00% plus an interest rate spread of 196 bps plus 0.11448%. Through interest rate cap agreements, 1M SOFR is currently fixed at 4.0%. (44) Variable rate loan based on 1M Term SOFR, which is subject to a floor of 0.00% plus an interest rate spread of 163 bps. Through interest rate swap agreements, 1M Term SOFR is currently fixed at 3.77%. (45) Amounts shown in USD Equivalent. KRW Equivalent is 263.2 billion. (46) Amounts shown in USD Equivalent. CNY Equivalent is 390.2 million. (47) Notes exchangeable into ordinary shares of Klépierre S.A. at a common price of €27.16. (48) Variable rate loan based on 1M SOFR, which is subject to a floor of 0.00% plus an interest rate spread of 115 bps. 1M SOFR, as of December 31, 2024 was 4.33%. (49) Variable rate loan based on 1M SOFR, which is subject to a floor of 0.00% plus an interest rate spread of 150 bps. 1M SOFR, as of December 31, 2024 was 4.33%. The changes in consolidated mortgages and unsecured indebtedness for the years ended December 31, 2024, 2023 and 2022 are as follows: 2024 2023 2022 Balance,BeginningofYear....................................... $ 26,033,423 $ 24,960,286 $ 25,321,022 Additions during period: NewLoanOriginations ...................................... 1,089,989 3,610,389 3,443,739 Loans assumed in acquisitions and consolidation . . . . . . . . . . . . . . . . . . 318,750 — 85,689 Net(Discount)/Premium ..................................... (6,910) (43,438) (1,922) NetDebtIssuanceCosts..................................... (23,298) (60,891) (10,166) Deductions during period: LoanRetirements .......................................... (2,960,208) (2,559,276) (3,687,330) Amortization of Net Discounts/(Premiums) . . . . . . . . . . . . . . . . . . . . . . . 5,827 432 7 DebtIssuanceCostAmortization .............................. 32,477 28,660 26,113 ScheduledPrincipalAmortization.............................. (16,278) (16,455) (22,446) ForeignCurrencyTranslation ................................. (209,277) 113,716 (194,420) Balance,CloseofYear.......................................... $ 24,264,495 $ 26,033,423 $ 24,960,286
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