Consolidation makes its mark on industry’s leading owners. Consolidation continues to characterize today’s retail industry. “The easiest way to grow is to acquire others’ real estate in existing properties,” says Norman W. Peters, senior vice president of The Cafaro Co., Youngstown, Ohio. “The successful (companies) are acquiring the marginal in the process.”

Not surprisingly, company acquisitions and portfolio shifts continue to affect Shopping Center World’s annual ranking of the Top 50 Owners of Shopping Centers. While seven of the companies ranked in our Top 10 last year remain there this year, the amount of retail space owned has changed dramatically.

Indianapolis-based Simon Property Group, which maintains a tight hold on the No. 1 spot, increased its portfolio by more than 30 million sq. ft. through its 1998 acquisitions, including 12 million sq. ft. from New York-based Corporate Property Investors. Chicago-based General Growth Properties Inc. made various purchases, including Dallas-based MEPC American Properties, and grew by 22 million sq. ft. for a move to the No. 2 position.

The No. 3 spot is held by Los Angeles-based Westfield Holdings Ltd., which jumped from No. 8 last year with the addition of more than 21 million sq. ft. Kimco Realty Corp., New Hyde Park, N.Y., also had significant growth, increasing by approximately 18 million sq. ft.

One of the companies making its debut in the Top 10 this year is New Plan Excel Realty Trust, New York, with more than 37 million sq. ft. of retail GLA owned. Ranked No. 7, the company is the result of a merger last year between New Plan Realty Trust, New York, and Excel Realty Trust Inc., San Diego.

Through consolidation, some companies made their first appearance in the Top 50. For example, Baltimore-based Prime Retail Inc. nearly doubled its size with the acquisition of Muskegon, Mich.-based Horizon Group Inc. and surged to No. 28.

“Consolidating is a way of creating a more efficient business climate for the company as well as shareholders,” says Bill Carpenter, Prime Retail president and CEO.

David Tripp, vice president and director of investor relations and corporate communications for The Rouse Co., Columbia, Md., agrees that efficiency drives the desire to consolidate. “All kinds of efficiencies come with being bigger,” he says.

Rouse’s strategy during the past few years has been to develop a portfolio that consists of all “A” or “B” properties, Tripp says. While the company disposed of a lot of “C” and “D” properties – dropping it in the rankings — it also bought a number of top properties from San Diego-based TrizecHahn Centers as well as interests in other centers. Tripp says he expects this scenario to continue, but there will be fewer sales as the com-pany’s revised portfolio takes shape.

The need to remain competitive drives consolidation, says Richard L. Heuer, executive vice president of Bradley Real Estate, which acquired Oakbrook Terrace, Ill.-based Mid-America Realty Investments in August 1998. “The pace is accelerating because of economic and competitive pressures,” he says.

On the other hand, Marie Izzo Cart-wright, vice president of corporate communications and marketing for Columbus, Ohio-based Glimcher Realty Trust, says she sees consolidation slowing. Glimcher purchased several shopping centers last year, increasing its portfolio by 6 million sq. ft. However, Cartwright says, the company now plans to concentrate more on its core portfolio and less on acquisitions.

Shopping Center World’s ranking of the industry’s Top Owners is based on total shopping center GLA owned, as reported in our “Annual Industry Survey.” Respon-dents were asked to include GLA owned through Sept. 30, 1998, and were instructed to report only shopping center GLA and only their percentage of ownership in the case of joint ventures.

Additional survey results will be published in March with the ranking of the industry’s Top Managers, and in April with a listing of companies’ plans to develop, renovate, redevelop or expand individual properties.

1. Simon Property Group 115 W. Washington St. Indianapolis, IN 46204 Ph.: (317) 263-7148 Fax: (317) 263-7925 Website: www.simon.com Total GLA Owned: 136,044,894 Officers: Co-Chmn., Melvin Simon; Co-Chmn., Herbert Simon; CEO, David Simon; Vice Chmn., Hans Mautner; Pres./COO, Richard S. Sokolov; Sr. EVP, Mark Ticotin; EVP/Corp. Development, Randy Foxworthy; EVP/Property Development, Jerry Garvey; EVP/Leasing, Jim Napoli; EVP/Property Mgmt., John Neutzling; General Counsel, James Barkley; Treasurer, Steve Sterrett

2. General Growth Properties 110 N. Wacker Drive Chicago, IL 60707 Ph.: (312) 960-5000 Fax: (312) 960-5475 Website: www.generalgrowth.com Total GLA Owned: 71,536,695 Pres., Bob Michaels; VP/Development, Jon Batesole; VP/Design & Construction, Tim Gardels; VP/Mktg., Mary Kiley; VP/Leasing, Scott Keeney; VP/Leasing, Libby Lassiter; VP/Leasing, Rob Wyant; VP/Asset Mgmt., Jean Schlemmer; VP/Asset Mgmt., John Millar; VP/Asset Mgmt., Randy Richardson

3. Westfield Holdings Ltd. 11601 Wilshire Blvd. 12th Floor Los Angeles, CA 90025 Ph.: (310) 478-4456 Fax: (310) 478-1267 Website: www.westfieldamerica.com Total GLA Owned: 60,800,000 Co-Pres., Peter Lowy; Co-Pres., Richard Green; Sr. EVP/Leasing & Center Mgmt., Roger Burghdorf; CFO, Mark Stefanek; Sr. EVP/Design & Construction, Dimitri Vazelakis; EVP/Mktg., Randall Smith

4. Kimco Realty Corp. 3333 New Hyde Park Road, Ste. 100 New Hyde Park, NY 11042-0020 Ph.: (516) 869-9000 Fax: (516) 869-9001 E-mail: [email protected] Website: www.kimcorealty.com Total GLA Owned: 60,623,975 Chmn./CEO, Milton Cooper; Vice Chmn./Pres./COO, Michael J. Flynn; Sr. EVP, Joseph Kornwasser; EVP, Jerald Friedman; VP, Lawrence Kronenberg; VP/Construction, Joseph Denis; VP/CFO, Michael V. Pappagallo; VP/MIS, Alex Weiss; Treasurer, Glenn Cohen; General Counsel/Secretary, Bruce Kauderer

5. The Richard E. Jacobs Group Inc. 25425 Center Ridge Road Cleveland, OH 44145 Ph.: (440) 871-4800 Fax: (440) 808-6905 E-mail: rejacobsgroup.com Website: www.rejacobsgroup.com Total GLA Owned: 40,362,198 Chmn./CEO, Richard E. Jacobs; Pres./COO, Martin J. Cleary; EVP, Thomas W. Henneberry; VP/Leasing, David J. Lewanski; VP/Mgmt., Stephen L. Huber; VP/Design & Construction, Thomas P. Schmitz

6. Developers Diversified Realty Corp. 34555 Chagrin Blvd. P.O. Box 8022 Chagrin Falls, OH 44022 Ph.: (440) 247-4700 Fax: (440) 247-1118 Website: www.ddrc.com Total GLA Owned: 40,356,118 Pres./CEO/Chmn., Scott Wolstein; CIO/Vice Chmn., James Schoff; E VP/COO, Richard Kaplan; VP/CFO, William H. Schafer; VP/Dir. of Development, John McGill; VP/General Counsel, Joan Allgood; VP/Investor Relations, Perry Grueber; Regional VP/Leasing, Steven Dorsky; Regional VP/Leasing, Alan Bobman; Regional VP/Leasing, Robin Walker; Corp. Mktg. Dir., Scott Schroeder

7. New Plan Excel Realty Trust 1120 Avenue of the Americas New York, NY 10036 Ph.: (212) 869-3000 Fax: (212) 869-3989 Total GLA Owned: 37,369,587 CEO, Arnold Laubich; Pres., Gary B. Sabin; EVP/Co-COO, James M. Steuterman; EVP/Co-COO, Richard B. Muir; CFO, David A. Lund; Treasurer, William Kirshenbaum; SVP/Finance, Dean Bernstein; SVP/Capital Markets, Graham R. Bullick; SVP/Acquistions, Mark T. Burton; SVP/Leasing, James DeCicco; SVP/Acquistions, Thomas J. Farrell; SVP/Legal Affairs & Secretary, S. Eric Ottesen; SVP/Mgmt., Ronald H. Sabin; SVP/General Counsel, Steven F. Siegel; VP/Leasing, John Visconsi

8. The Macerich Co. 401 Wilshire Blvd., Ste. 700 Santa Monica, CA 90401 Ph.: (310) 394-6911 Fax: (310) 394-0632 E-mail: [email protected] Website: www.macerich.com Total GLA Owned: 35,000,000 Chmn., Mace Siegel; Vice Chmn., Dana Anderson; Pres./CEO, Arthur Coppola; EVP/Dir. Of Acquisitions, Ed Coppola; SVP/CFO, Thomas E. O’Hern; SVP/COO, David Contis; General Counsel/Secretary, Richard Bayer; SVP, Larry Sidwell

9. Benderson Development Co. Inc. 570 Delaware Ave. Buffalo, NY 14202 Ph.: (716) 886-0211 Fax: (716) 886-2269 Total GLA Owned: 33,272,000 CEO, Nathan Benderson; Pres., Randall Benderson; VP/Partner, Rex Burgher; Partner, Don Robinson; Partner, David Feuerstein; Partner, Stephen B. Goodman; Partner, Wayne Ruben

10. The Cafaro Co. 2445 Belmont Ave. P.O. Box 2186 Youngstown, OH 44504 Ph.: (330) 747-2661 Fax: (330) 743-2902 Total GLA Owned: 32,169,933 Pres./CEO, Anthony M. Cafaro; EVP, J.J. Cafaro; Vice Chmn., Anthony J. Ross; VP/Asst. Treasurer, Flora M. Cafaro; VP/Mktg., Phyllis C. Cafaro; SVP/Finance, Joseph S. Nohra; SVP, Norman W. Peters; SVP/Development, R. Lynn Squire; VP/Construction, George W. Roth; Treasurer/CFO, Dominic Rosselli Jr; Dir. of Operations, John Richley

11. CBL & Associates Properties Inc. One Park Place 6148 Lee Highway Ste. 300 Chattanooga, TN 37421-6511 Ph.: (423) 855-0001 Fax: (423) 490-8662 Website: www.cblproperties.com Total GLA Owned: 31,091,877 CEO/Chmn./Pres., Charles B. Lebovitz; EVP/CFO, John N. Foy; EVP/Development & Acquisitions, Stephen D. Lebovitz; EVP/Mgmt., Ben S. Landress; SVP/Dir. of Corp. Leasing, Eric Snyder; SVP/Mall Mgmt., Jerry Sink; VP/Corp. Relations & Mktg., John R. Martin Jr.

12. The Rouse Co. 10275 Little Patuxent Pkwy. Columbia, MD 21044 Ph.: (410) 992-6000 Fax: (410) 992-6363 Website: www.therousecompany.com Total GLA Owned: 29,742,000 Chmn./Pres./CEO, Anthony W. Deering; EVP/Development & Operations, Douglas A. McGregor; SVP/CFO, Jeffrey H. Donahue; SVP/Dir. of Office & Mixed-Use Operations, Duke S. Kassolis; SVP/Dir. of Retail Operations, Paul I. Latta Jr.; SVP/New Business, Robert Minutoli; SVP/Dir. of Retail Leasing, Robert D. Riedy; SVP/Dir. ofCommunity Development & Gen. Mgr. of Columbia, Alton J. Scavo; SVP/Dir. of Commercial & Office Development, Jerome D. Smalley; SVP/Controller, George L. Yungmann; VP/Dir. of Investor Relations & Corp. Comm., David L. Tripp

13. The Pyramid Co. 4 Clinton Square Syracuse, NY 13202 Ph.: (315) 422-7000 Fax: (315) 422-2717 Total GLA Owned: 25,971,000 sq. ft. Mgn. Partner, Robert J. Congel; CEO/Partner, James A. Tuozzolo; General Counsel, Marc A. Malfitano

14. Glimcher Realty Trust 20 South Third St. Columbus, OH 43215 Ph.: (614) 621-9000 Fax: (614) 621-9311 Total GLA Owned: 25,560,056 Chmn./Pres./CEO, Herbert Glimcher; SVP/COO/CFO, William G. Cornely; SVP/Development & Leasing, Michael P. Glimcher; SVP/Construction Srvcs., William R. Husted; SVP/Property Mgmt., John P. Hoeller; SVP/Development, Alan S. Perlstein; SVP/General Counsel, George A. Schmidt; VP/Controller, George M. Harmanis; VP/Human Resources, Janelle R. Mikusa; VP/Acquisitions, John C. Hicks; VP/Corp. Comm. & Mktg., Marie Izzo Cartwright; VP/Value MegaMall Leasing, Daniel E. Devine; VP/Mall Leasing, Michael J. Powers; VP/Comm. Center Leasing, Celia Wing

15. LaSalle Partners Inc. 200 East Randolph Drive Chicago, IL 60601 Ph.: (312) 782-5800 Fax: (312) 782-4339 Website: www.lasalle.com Total GLA Owned: 19,753,975 President/Chief Operating Officer, LaSalle Partners Inc., and Chairman/Chief Executive Officer, LaSalle Partners Management Services Inc., Robert C. Spoerri; Co-President, LaSalle Advisors Capital Management Inc., Lynn C. Thurber; President and Chief Executive Officer, LaSalle Partners Management Services Inc. Retail Group, Robert F. Welanetz; Chief Operating Officer, LaSalle Partners Management Services Inc. Retail Group, John H. Padgham

16. Cambridge Shopping Centres Ltd. 95 Wellington St. West Ste. 300 Toronto, ON M5J 2R2 Canada Ph.: (416) 369-1200 Fax: (416) 369-1238 Website: cambridgemalls.com Total GLA Owned: 19,233,000 Pres./CEO, J. Lorne Braithwaite; COO/EVP, Kim McInnes; SVP/Asset Mgmt., Ron Meiers; VP/Corp. Finance, Arthur Evans; VP/Leasing, Barry McKay; VP/Design & Construction, Dave Stewart

17. Weingarten Realty Investors 2600 Citadel Plaza Drive Ste. 300 Houston, TX 77008 Ph.: (713) 866-6000 Fax: (713) 866-6049 E-mail: [email protected] Website: www.weingarten.com Total GLA Owned: 18,980,746 Chmn./CEO, Stanford Alexander; Vice Chmn., Martin Debrovner; Pres., Drew Alexander; VP/Acquisitions, Candace DuFour; VP/Leasing, Steve Weingarten; VP/Leasing, Johhny Hendrix; VP/Leasing, Tim Seckinger; VP/Leasing, Patty Bender

18. R.D. Management Corp. 810 Seventh Ave., 28th Floor New York, NY 10019 Ph.: (212) 265-6600 Fax: (212) 459-9133 E-mail: [email protected] Website: www.rdmanagement.com Total GLA Owned: 17,310,111 Pres., Walter R. Samuels; Chmn., Jay Furman; EVP, Robert P. Murray; EVP, Richard Birdoff; VP/Dir. of Leasing, Mary Ann Savarese

19. WellsPark Group 1 Wells Avenue Newton, MA 02459 Ph.: (617) 965-6000 Fax: (617) 243-7396 Total GLA Owned: 16,996,000 Chmn./CEO, Steve Karp; Vice Chmn., Steve Fischman; Pres., Carl Chudnofsky; EVP/Leasing, John Phelan; SVP/Mktg., Adrienne Davis-Brody; CFO, Dawn Neher

20. Crown American Realty Trust Pasquerilla Plaza Johnstown, PA 15901 Ph.: (814) 536-4441 Fax: (814) 535-9486 E-mail: [email protected] Website: www.crownam.com Total GLA Owned: 16,010,235 Chmn./CEO, Frank J. Pasquerilla; Vice Chmn./Pres., Mark E. Pasquerilla; Vice Chmn./COO, John Kriak; EVP/Asset Mgmt., Tom Stephenson; SVP/Leasing, Bob Griffith; VP/Corp. Comm. & Mktg., Christine Menna

21. Zamias Services Inc. 300 Market St. Johnstown, PA 15901 Ph.: (814) 535-3563 Fax: (814) 536-5505 E-mail: [email protected] Total GLA Owned: 15,985,968 Vice Chmn., Stephen G. Zamias; Pres./CEO, Damian Zamias; VP/Leasing, Perry Russ; VP/Construction & Site Planning, Judy Widrig; Dir./Operations, Bryan Templin; Mktg. Representative, Sherry Renosky

22. Taubman Centers Inc. 200 E. Long Lake Road P.O. Box 200 Bloomfield Hills, MI 48303-0200 Ph.: (248) 258-6800 Fax: (248) 258-7697 Website: www.taubman.com Total GLA Owned: 15,500,000 Chmn., A. Alfred Taubman; Pres./CEO, Robert S. Taubman; EVP/CFO, Lisa A. Payne; EVP, William S. Taubman; SVP/Construction, Jeffrey Armitage; SVP/Center Operations, Denise Anton; SVP/Leasing, Douglas Lucey; Dir./Investor Relations, Barbara K. Baker; Dir./Communications, Karen MacDonald; SVP/Mng. Dir. of Development, John Simon

23. Wilmorite Inc. 1265 Scottsville Road Rochester, NY 14624 Ph.: (716) 464-9400 Fax: (716) 464-0706 Total GLA Owned: 15,450,000 Chmn., Thomas C. Wilmot; Pres., John W. Anderson; VP/Leasing, Douglas J. Healey; Dir./New Ventures, William I. Cappelletti; Dir./Construction, Douglas Morrow; Mktg. Dir., John R. Kraus; VP/Development, Alfred W. Friedrich

24. Bradley Real Estate 40 Skokie Blvd., Ste. 600 Northbrook, IL 60062 Ph.: (847) 272-9800 Fax: (847) 480-1893 Total GLA Owned: 15,391,910 Chmn./CEO/Pres., Thomas P. D’Arcy; EVP, E. Paul Dunn; EVP, Richard L. Heuer; SVP, Marianne Dunn; CFO/SVP, Irving E. Lingo Jr; SVP, Steven St. Peter

25. Inland Real Estate Investment Corp./ Inland Commercial Property Management 2901 Butterfield Road Oak Brook, IL 60523 Ph.: (630) 218-8000 Fax: (630) 218-4935 E-mail: [email protected] Website: www.inlandgroup.com Total GLA Owned: 15,323,371 Chmn./Inland Real Estate Investment, Robert D. Parks; Pres./Inland Commercial Property Mgmt., D. Scott Carr; Pres./Inland Real Estate Investment, Brenda G. Gujral; VP/Inland Commercial Property Mgmt., Kristi Rankin; SVP/Inland Real Estate Investment, Patricia Challenger; SVP/Inland Real Estate Investment, Roberta Matlin; Asst. VP/Inland Commercial Property Mgmt., Charles Cimorelli

26. Federal Realty Investment Trust 1626 East Jefferson St. Rockville, MD 20852 Ph.: (301) 998-8100 Fax: (301) 998-3702 E-mail: [email protected] Website: www.federalrealty.com Total GLA Owned: 15,200,000 Pres./CEO, Steven J. Guttman; SVP/Mng. Dir. of Development, Howard S. Biel; SVP/CIO, Ron D. Kaplan; SVP/CFO, Donald C. Wood; VP/Dir. of Leasing, Jeanne T. Connor; VP/Information Technology, Lisa F. Denson; VP/Property Mgmt., Curtis W. Furgason; VP/Acquisitions, Charles E. Garner II; VP/Anchor Leasing, T. Andrew Gorman; VP/Dir. of Development, Jack E. Heinemann; VP/Corp. Comm., Kathleen M. Klein; VP/New Business, Robin S. Mosle; VP/Controller, Cecily A. Ward

27. Forest City Enterprises Inc. 1100 Terminal Tower 50 Public Square Cleveland, OH 44113 Ph.: (216) 621-6060 Fax: (216) 523-1431 Website: www.fceinc.com Total GLA Owned: 14,510,000 Co-Chmn./Treasurer, Albert B. Ratner; Co-Chmn., Samuel H. Miller; Honorary Vice Chmn., Nathan Shafran; Pres./CEO, Charles A. Ratner; EVP, James A. Ratner; Pres./CEO, Forest City Ratner Cos., Bruce C. Ratner; EVP, Ronald A. Ratner; EVP/COO, Forest City Commercial Group Inc., David J. LaRue; SVP/Development, Brian J. Ratner; SVP/CFO/Secretary, Thomas G. Smith; SVP/General Counsel/Asst. Secretary, William M. Warren

28. Prime Retail 100 E. Pratt St., 19th Floor Baltimore, MD 21202 Ph.: (410) 234-0782 Fax: (410) 234-1701 E-mail: [email protected] Website: www.primeoutlets.com Total GLA Owned: 14,400,000 CEO, Abraham Rosenthal; Pres./COO, William H. Carpenter Jr; EVP/Dev. & Site Acq., Glenn D. Reschke; EVP/Operations & Mktg., David G. Phillips; EVP/CFO & Treasurer, Robert P. Mulreaney; EVP/General Counsel & Secretary, C. Alan Schroeder; SVP/Dev. & Const. Mgmt. Svcs., R. Bruce Armiger; SVP/Mktg. & Communications, Anya T. Harris; SVP/Leasing, John S. Mastin; SVP/Finance, Steven S. Gothelf

29. Urban Shopping Centers Inc. 900 N. Michigan Ave. Ste. 1500 Chicago, IL 60611 Ph.: (312) 915-1735 Fax: (312) 915-2001 Total GLA Owned: 13,355,000 Chmn./CEO, Matthew S. Dominski; CFO, Adam S. Metz; COO, Dennis M. Zaslavsky; Pres./Development Group, James L. Czech; Pres./Mgmt., Joseph M. Shrader; Pres./Leasing, Ross B. Glickman

30. Westcor Partners 11411 N. Tatum Blvd. Phoenix, AZ 85028 Ph.: (602) 953-6474 Fax: (602) 494-6118 Website: www.westcor.com Total GLA Owned: 13,200,000 Pres./CEO, Robert L. Ward; EVP, Robert B. Williams; EVP, John F. Rasor; EVP, Gilbert W. Chester; EVP/CFO, Robert G. Mayall; VP/Mktg., Tracey Gotsis

31. Edens & Avant 1901 Main St. Ste. 900 Columbia, SC 29201 Ph.: (803) 779-4420 Fax: (803) 799-1599 E-mail: [email protected] Website: www.edensandavant.com Total GLA Owned: 13,000,000 Chmn./CEO, Joe Edens; Pres./COO, John H. Lumpkin Jr; VP/Retail Leasing, Earl Kurtz; CFO, Jay Matera; VP/Property Mgmt., A. H. (Hal) Cottingham; CIO/Acquisitions & Asset Mgmt., Jodie McLean; VP/Construction Admin., Joe Edens III; VP/Construction Admin., Ray Weston; VP/Development, Robert Carver; VP/Development, Mike Wiggins; Dir./Retail Development & Redevelopment, Glen Hollis; Dir./Corp. Mktg., Susan B. Sale

32. The RREEF Funds 875 N. Michigan Ave. 41st Floor Chicago, IL 60611 Ph.: (312) 266-9300 Fax: (312) 266-9346 Website: www.rreef.com Total GLA Owned: 12,870,700 Mng. Principcal, Donald A. King Jr.; Principal-in-Charge/Property Mgmt., Robert J. Navratil; Principal-in-Charge/Acquisitions, Gary T. Kachadurian; SVP/Retail Group, Lee M. Letchford

33. The Mills Corp. 1300 Wilson Blvd. Ste. 400 Arlington, VA 22209 Ph.: (703) 526-5000 Fax: (703) 526-5111 Website: www.millscorp.com Total GLA Owned: 12,620,194 Chmn./CEO, Laurence C. Siegel; Pres./COO, Peter B. McMillan; EVP/Specialty Leasing, Judith S. Berson; EVP/CFO, Kenneth R. Parent; EVP/Development, James F. Dausch; EVP/Mgmt. & Mktg., Kent S. Digby; SVP/General Counsel, Thomas E. Frost; SVP/Real Estate, Thomas M. Hindert; SVP/Development, Steven J. Jacobsen; SVP/Capital Services, James P. Whitcome; SVP/National Accounts, Mark J. Rivers; Director/Corp. Communications, Susan Goyette; VP/Investor Relations, Steve Walsh; Group VP/Marketing, Anne Lipscomb

34. JP Realty Inc. 35 Century Park-Way Salt Lake City, UT 84115 Ph.: (801) 486-3911 Fax: (801) 486-7653 E-mail: [email protected] Website: www.jprealty.com Total GLA Owned: 12,224,438 Chmn./CEO, John Price; Pres./COO, G. Rex Frazier; VP/CIO, Paul K. Mendenhall; VP/CFO, M. Scott Collins; VP/Property Operations, Greg Curtis; VP/General Counsel, David R. Sabey; VP/Admin., Martin Peterson

35. Vornado Realty Trust Park 80 West, Plaza II Saddle Brook, NJ 07663 Ph.: (201) 587-1000 Fax: (201) 587-0060 Total GLA Owned: 11,954,774 Chmn., Steven Roth; Pres., Michael D. Fascitelli; SVP/Finance & Admin., Joseph Macnow; VP/Real Estate, Richard T. Rowan; Dir./Mall Operations, Kimli Cross Smith; Dir./Property Mgmt., Al Zubcak; Dir./Construction, John Kundrat; Dir./Real Estate, John Ostrowski

36. Colonial Properties Trust 2101 Sixth Ave. North Ste. 750 Birmington, AL 35203-2775 Ph.: (205) 250-8700 Fax: (205) 250-8890 E-mail: [email protected] Website: www.colonialprop.com Total GLA Owned: 11,700,000 Chmn./Pres./CEO, Thomas H. Lowder; CFO, Howard B. Nelson Jr.; EVP/Retail Division, John N. Hughey; SVP/Retail Mgmt., John L. Moss; SVP/Retail Leasing, Paul C. Glascock; SVP/Retail Acquisitions, Richard B. Yeilding

37. CenterAmerica Property Trust 3901 Bellaire Blvd. Houston, TX 77025 Ph.: (713) 660-4300 Fax: (713) 349-0901 Total GLA Owned: 11,670,000 Pres./CEO, Scott MacDonald; COO/EVP, Lamar Haggard; CFO/EVP, John Gilluly; EVP/Legal, Mike Axelrad; EVP/Acquisitions, Gary Cunningham; EVP/Leasing, Tex Spear

38. Kravco Co. 234 Mall Blvd. King of Prussia, PA 19406 Ph.: (610) 768-6300 Fax: (610) 768-6440 E-mail: [email protected] Website: www.kravco.com Total GLA Owned: 11,363,867 Chmn./CEO, Wayne L. Snyder; Pres./COO, Lewis I. Gantman; VP/Development, Joseph C. Esposito; VP/Mgmt., Clinton M. Cochran; VP/Leasing, Lloyd Miller; VP/Planning & Construction Svcs., Anthony P. Falotico; VP/Admin. & Corp. P.R., Despina F. Page

39. JDN Realty Corp. 359 E. Paces Ferry Road Atlanta, GA 30305 Ph.: (404) 262-3252 Fax: (404) 364-6446 E-mail: [email protected] Website: www.irinfo.com/jdn Total GLA Owned: 10,866,844 Chmn./CEO, J. Donald Nicholds; Pres., Elizabeth L. Nichols; SVP/CFO, William J. Kerley; SVP/Development, Jeb L. Hughes; VP/Acquisitions, Laurie Farris; VP/Controller, John D. Harris Jr.; VP/Leasing, David L. Henzlik; VP/Dir. of Property Mgmt., Leilani L. Jones; VP/Asset Mgmt., Andrew Rothfeder; VP/Development, C. Sheldon Whittelsey IV; VP, Margaret Norvell

40. S.R. Weiner & Associates Inc. 1330 Boylston St., Ste. 212 Chestnut Hill, MA 02467 Ph.: (617) 232-8900 Fax: (617) 738-1628 E-mail: [email protected] Website: www.srweiner.com Total GLA Owned: 10,744,900 Pres., Stephen R. Weiner; EVP, Thomas J. DeSimone; Partner, W/S Development LLC, Jeremy Sclar; VP/Mall Properties, Jill Crouch; VP/Development, Bob Frazier; Treasurer, Deirdre A. Geoghegan; Dir./Mktg. & P.R., Bob Gottlieb; Dir./Community Center Leasing, Lee Anne Klemyk; Dir./Lease Admin., Chris B. Rocco; Dir./Community Shopping Centers, Al J. Rocco; Controller, Jeff Willar

41. Center Trust 3500 Sepulveda Blvd. P.O. Box 10010 Manhattan Beach, CA 90266 Ph.: (310) 546-4520 Fax: (310) 546-6798 Total GLA Owned: 10,324,853 CEO/Pres., Edward Fox; CFO/SVP, Stuart Gulland; SVP/Leasing, William P. Hewitt; SVP/General Counsel/Secretary, Steven M. Jaffe; SVP/Properties, Joseph P. Paggi Jr; VP/Operations/Mgmt., Patricia DeAngelis; VP/Acquisitions, Mark Granados; VP/Development, David Newsome

42. Aronov Realty 3500 Eastern Blvd. P.O. Box 235000 Montgomery, AL 36116 Ph.: (334) 277-1000 Fax: (334) 272-0747 Website: www.aronov.com Total GLA Owned: 10,233,404 Pres., Jake Aronov; SVP, Owen Aronov; COO, G. Michael Cox; SVP/Development, Frank Johnston; Comptroller, Jennie Autrey

43. The Kroenke Group 1001 Cherry St. Centre, Ste. 308 Columbia, MO 65201 Ph.: (573) 449-8323 Fax: (573) 449-2643 E-mail: [email protected] Total GLA Owned: 10,102,612 Pres., Stan Kroenke; Dir./Leasing, Jim Alabach; Dir./Property Mgmt., Ross Peterson

44. Schostak Brothers & Co. 25800 Northwestern Hwy. Ste. 750 Southfield, MI 48075 Ph.: (248) 262-1000 Fax: (248) 262-1814 Total GLA Owned: 10,000,000 Co-Pres., Robert I. Schostak; Co-Pres., David W. Schostak; Mktg., Cindy Ciura; Development, Stephen Duczynski; Finance, Angela Mader

45. IRT Property Co. 200 Galleria Pkwy. Ste. 1400 Atlanta, GA 30339 Ph.: (770) 955-4406 Fax: (770) 612-9030 Total GLA Owned: 9,920,948 Chmn./Pres./CEO, Thomas H. McAuley; EVP/CFO, Mary M. Thomas; EVP/Legal & Acquisitions, W. Benjamin Jones III; EVP/Property Mgmt. & Leasing, Robert E. Mitzel; SVP/Const. & Dev., Daniel F. Lovett; SVP/Asset Mgmt., Kip R. Marshall

46. Don M. Casto Organization 209 E. State St. Columbus, OH 43215 Ph.: (614) 228-5331 Total GLA Owned: 9,898,869 Officers:, Don M. Casto III;, Frank Benson III

47. Burnham Pacific 610 W. Ash St.. Ste. 1600 San Diego, CA 92101 Ph.: (619) 652-4700 Fax: (619) 652-4711 Website: www.burnhampacific.com Total GLA Owned: 9,719,705 CEO, David Martin; CFO, Daniel Platt; COO, Joseph Byrne; Chief Development Officer, James Kessler; Exec. Dir. Leasing, Terrence Tallen

48. Acadia Realty Trust 805 Third Ave. 9th Floor New York, NY 10022 Ph.: (212) 421-8830 Fax: (212) 421-2290 Website: www.markcenters.com Total GLA Owned: 9,518,298 Chmn./CEO, Ross Dworman; Pres., Kenneth F. Bernstein; SVP/Finance, Perry Kamerman; SVP/Acquisitions, Joel Braun

49. Rosen Associates Management Corp. 33 South Service Road Jericho, NY 11753 Ph.: (515) 333-2000 Fax: (516) 333-7555 Total GLA Owned: 9,485,000 Chmn./CEO, Robert A. Rosen; Pres., Florence Rosen; EVP/Leasing, David Rosen; VP/Controller, Peter Varous; VP/Acquisitions, Peter L. Gruber; VP/Construciton, Charles Burkert

50. EBL & S Property Management Inc. 230 S. Broad St. Mezzanine Level Philadelphia, PA 19102 Ph.: (215) 790-4700 Fax: (215) 790-4733 Total GLA Owned: 9,085,099 Pres., Edward B. Lipkin; VP, David Simon; Dir./Leasing, Howard Levy; Dir./Operations, Mike Fedak; Sr. Leasing Agent, Bradley M. Schwartz