13.	Mortgages Payable :

Mortgages payable, collateralized by certain shopping center properties (see Financial Statement Schedule III included in this annual report on Form

-K) and related tenants' leases, are generally due in monthly installments of principal and/or interest. As of

December 31, 2017

and

2016,

the Company’s Mortgages payable, net consisted of the following (in millions):

	Carrying Amount a t December 31 ,						Interest Rate a t December 31 ,						Maturity Date at
	201 7			201 6			201 7			201 6			December 31, 201 7
Mortgages payabl e	$	867.1		$	1,114.4		2.60%	-	9.75%	1.91%	-	9.41%	Jan-2018	–	Aug-2031
Fair value debt adjustments, net		19.3			27.7			n/a			n/a			n/a
Deferred financing costs, ne t		(3.6	)		(3.0	)		n/a			n/a			n/a
	$	882.8		$	1,139.1			4.57%*			4.94%*

* Weighted-average interest rate

During

2017,

the Company (i) assumed/consolidated

$257.5

million of individual non-recourse mortgage debt (including a fair market value adjustment of

$8.5

million) related to

two

operating properties, (ii) paid off

$692.9

million of mortgage debt (including fair market value adjustments of

$5.8

million) that encumbered

operating properties and (iii) obtained a

$206.0

million non-recourse mortgage relating to

one

operating property.

During

2016,

the Company (i) assumed

$289.0

million of individual non-recourse mortgage debt relating to the acquisition of

properties, including

$4.3

million associated with fair value debt adjustments and (ii) paid off

$703.0

million of mortgage debt (including fair market value adjustment of

$2.1

million) that encumbered

operating properties. In connection with the early prepayment of certain of these mortgage

s, the Company recorded an early extinguishment of debt charge of

$9.2

million.

Additionally, during

2016,

the Company disposed of an encumbered property through foreclosure. This transaction resulted in a net decrease in mortgage debt of

$25.6

million (including fair market value adjustment of

$0.4

million) and a gain on forgiveness of debt of

$3.1

million, which is included in Other

(expense)/income, net in the Company’s Consolidated Statements of Income.

The

scheduled principal payments (excluding any extension options available to the Company) of all mortgages payable, excluding unamortized fair value debt adjustments and unamortized debt issuance costs, as of

December 31, 2017,

were as follows (in millions):

		2018				2019				2020				2021				2022				Thereafter				Total
Principal payments		$	98.4			$	115.7			$	136.4			$	145.4			$	140.6			$	230.6			$	867.1