completing on January 11, 2022, the issuance of the following senior unsecured notes: $500 million with a floating interest rate of SOFR plus 43 basis points and $700 million with a fixed interest rate of 2.650%, with maturity dates of January 11, 2024 and February 1, 2032, respectively. The proceeds were used to repay $1.05 billion outstanding under the Supplemental Facility, on January 12, 2022. United States Portfolio Data The portfolio data discussed in this overview includes the following key operating statistics: ending occupancy, and average base minimum rent per square foot. We include acquired properties in this data beginning in the year of acquisition and remove disposed properties in the year of disposition. For comparative information purposes, we separate the information related to The Mills and TRG from our other U.S. operations. We also do not include any information for properties located outside the United States. The following table sets forth these key operating statistics for the combined U.S. Malls and Premium Outlets: properties that are consolidated in our consolidated financial statements, properties we account for under the equity method of accounting as joint ventures, and the foregoing two categories of properties on a total portfolio basis. %/Basis Point %/Basis Point 2022 Change (1) 2021 Change (1) 2020 U.S. Malls and Premium Outlets: Ending Occupancy Consolidated ................................. 94.9% 140 bps 93.5% 200 bps 91.5% Unconsolidated ............................... 94.9% 180 bps 93.1% 220 bps 90.9% Total Portfolio ................................ 94.9% 150 bps 93.4% 210 bps 91.3% Average Base Minimum Rent per Square Foot Consolidated ................................. $ 53.95 2.6% $ 52.59 -2.6% $ 53.98 Unconsolidated ............................... $ 58.36 1.4% $ 57.55 -5.6% $ 60.97 Total Portfolio ................................ $ 55.13 2.3% $ 53.91 -3.4% $ 55.80 U.S. TRG: Ending Occupancy ........................... 94.5% 330 bps 91.2% 60 bps 90.6% Average Base Minimum Rent per Square Foot . . . . $ 61.76 5.2% $ 58.69 5.3% $ 55.75 The Mills: Ending Occupancy ........................... 98.2% 60 bps 97.6% 230 bps 95.3% Average Base Minimum Rent per Square Foot . . . . $ 34.89 3.2% $ 33.80 0.1% $ 33.77 (1) Percentages may not recalculate due to rounding. Percentage and basis point changes are representative of the change from the comparable prior period. Ending Occupancy Levels and Average Base Minimum Rent per Square Foot. Ending occupancy is the percentage of gross leasable area, or GLA, which is leased as of the last day of the reporting period. We include all company owned space except for mall anchors, mall majors, mall freestanding and mall outlots in the calculation. Base minimum rent per square foot is the average base minimum rent charge in effect for the reporting period for all tenants that would qualify to be included in ending occupancy. Current Leasing Activities During the twelve months ended December 31, 2022, we signed 1,262 new leases and 1,517 renewal leases (excluding mall anchors and majors, new development, redevelopment and leases with terms of one year or less) with a fixed minimum rent across our U.S. Malls and Premium Outlets portfolio, comprising approximately 9.1 million square feet, of which 7.0 million square feet related to consolidated properties. During 2021, we signed 992 new leases and 1,460 renewal leases with a fixed minimum rent, comprising approximately 8.3 million square feet, of which 6.5 million square feet related to consolidated properties. The average annual initial base minimum rent for new leases was $55.41 per square foot in 2022 and $55.90 per square foot in 2021 with an average tenant allowance on new leases of $53.01 per square foot and $53.75 per square foot, respectively.
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