

	Initial Cost to Company									Gross Amount at Which Carried at Close of Period
Shopping Centers/Entities	Land		Building and Improvements		Equipment and Furnishings		Cost Capitalized Subsequent to Acquisition			Land		Building and Improvements		Equipment and Furnishings		Construction in Progress		Total		Accumulated Depreciation		Total Cost Net of Accumulated Depreciation
Arrowhead Towne Center	$	36,687	$	386,662	$	—	$	21,261		$	35,556	$	390,182	$	2,502	$	16,370	$	444,610	$	32,730	$	411,880
Black Canyon	20,600		—		—		9,766			30,349		—		—		17		30,366		—		30,366
Capitola Mall	20,395		59,221		—		13,088			20,392		70,799		1,220		293		92,704		32,842		59,862
Cascade Mall	19,253		9,671		—		(459		)	18,699		9,664		102		—		28,465		769		27,696
Chandler Fashion Center	24,188		223,143		—		15,959			24,188		233,857		5,245		—		263,290		90,346		172,944
Danbury Fair Mall	130,367		316,951		—		99,864			142,751		398,254		6,104		73		547,182		117,300		429,882
Deptford Mall	48,370		194,250		—		51,415			61,029		230,414		2,584		8		294,035		60,013		234,022
Desert Sky Mall	9,447		37,245		12		3,225			9,082		39,794		1,053		—		49,929		6,903		43,026
Eastland Mall	22,050		151,605		—		6,736			22,066		157,079		874		372		180,391		18,575		161,816
Estrella Falls	10,550		—		—		65,457			9,405		—		—		66,602		76,007		—		76,007
Fashion Outlets of Chicago	—		—		—		253,469			40,575		209,834		2,308		752		253,469		24,121		229,348
Fashion Outlets of Niagara Falls USA	18,581		210,139		—		106,381			22,963		308,795		2,059		1,284		335,101		37,666		297,435
Flagstaff Mall	5,480		31,773		—		13,249			4,882		44,982		638		—		50,502		18,283		32,219
The Marketplace at Flagstaff	—		—		—		52,832			—		52,830		2		—		52,832		18,633		34,199
FlatIron Crossing	109,851		333,540		—		20,011			109,851		352,112		1,247		192		463,402		37,775		425,627
Freehold Raceway Mall	164,986		362,841		—		99,499			168,098		454,810		4,418		—		627,326		148,648		478,678
Fresno Fashion Fair	17,966		72,194		—		48,523			17,966		118,833		1,723		161		138,683		55,365		83,318
Green Acres Mall	156,640		321,034		—		93,099			156,640		355,992		5,953		52,188		570,773		38,272		532,501
Inland Center	8,321		83,550		—		2,838			8,280		84,416		16		1,997		94,709		3,520		91,189
Kings Plaza Shopping Center	209,041		485,548		20,000		58,633			206,969		532,089		23,415		10,749		773,222		53,286		719,936
La Cumbre Plaza	18,122		21,492		—		24,614			17,280		46,364		359		225		64,228		21,629		42,599
Macerich Management Co.	—		8,685		26,562		36,743			1,577		8,035		58,294		4,084		71,990		46,489		25,501
MACWH, LP	—		25,771		—		16,987			11,557		27,455		—		3,746		42,758		7,700		35,058
Northgate Mall	8,400		34,865		841		103,504			13,414		130,984		3,127		85		147,610		66,699		80,911
NorthPark Mall	7,746		74,661		—		8,912			7,885		82,961		458		15		91,319		10,983		80,336
Oaks, The	32,300		117,156		—		247,064			55,527		334,677		2,654		3,662		396,520		113,632		282,888
Pacific View	8,697		8,696		—		129,050			7,854		136,075		2,476		38		146,443		59,044		87,399
Paradise Valley Mall	24,565		125,996		—		42,604			35,921		154,278		2,317		649		193,165		63,169		129,996
Paradise Village Ground Leases	8,880		2,489		—		(6,876		)	3,870		623		—		—		4,493		317		4,176
Paradise Village Office Park II	1,150		1,790		—		3,453			2,300		3,584		509		—		6,393		2,293		4,100
Promenade at Casa Grande	15,089		—		—		84,112			8,586		90,541		74		—		99,201		35,048		64,153
See accompanying report of independent registered public accounting firm.



	Initial Cost to Company									Gross Amount at Which Carried at Close of Period
Shopping Centers/Entities	Land		Building and Improvements		Equipment and Furnishings		Cost Capitalized Subsequent to Acquisition			Land		Building and Improvements		Equipment and Furnishings		Construction in Progress		Total		Accumulated Depreciation		Total Cost Net of Accumulated Depreciation
Queens Center	$	251,474	$	1,039,922	$	—	$	6,106		$	256,786	$	1,038,998	$	1,434	$	284	$	1,297,502	$	31,204	$	1,266,298
Santa Monica Place	26,400		105,600		—		323,012			48,374		396,190		8,058		2,390		455,012		80,324		374,688
SanTan Adjacent Land	29,414		—		—		6,893			30,506		—		—		5,801		36,307		—		36,307
SanTan Village Regional Center	7,827		—		—		195,686			6,344		195,833		1,336		—		203,513		76,088		127,425
SouthPark Mall	7,035		38,215		—		23,120			7,479		60,516		361		14		68,370		6,288		62,082
Southridge Center	6,764		—		—		19,451			6,514		19,585		98		18		26,215		2,662		23,553
Stonewood Center	4,948		302,527		—		1,595			4,935		303,697		45		393		309,070		10,530		298,540
Superstition Springs Center	10,928		112,718		—		5,333			10,928		117,891		160		—		128,979		7,522		121,457
Superstition Springs Power Center	1,618		4,420		—		203			1,618		4,540		83		—		6,241		1,595		4,646
Tangerine (Marana), The Shops at	36,158		—		—		(9,232		)	16,922		—		—		10,004		26,926		—		26,926
The Macerich Partnership, L.P.	—		2,534		—		8,449			—		—		10,823		160		10,983		1,694		9,289
Towne Mall	6,652		31,184		—		4,062			6,877		34,530		491		—		41,898		12,761		29,137
Tucson La Encantada	12,800		19,699		—		55,276			12,800		74,435		530		10		87,775		37,790		49,985
Twenty Ninth Street	—		37,843		64		213,175			23,599		225,584		1,603		296		251,082		94,861		156,221
Valley Mall	16,045		26,098		—		9,719			15,616		35,869		326		51		51,862		4,566		47,296
Valley River Center	24,854		147,715		—		21,074			24,854		166,894		1,895		—		193,643		49,543		144,100
Victor Valley, Mall of	15,700		75,230		—		51,313			20,080		120,135		2,028		—		142,243		39,177		103,066
Vintage Faire Mall	14,902		60,532		—		56,441			17,647		112,898		1,316		14		131,875		61,773		70,102
Westside Pavilion	34,100		136,819		—		71,277			34,100		201,207		5,787		1,102		242,196		94,956		147,240
Wilton Mall	19,743		67,855		—		24,154			19,810		90,735		1,126		81		111,752		27,603		84,149
500 North Michigan Avenue	12,851		55,358		—		7,600			10,994		50,907		168		13,740		75,809		7,315		68,494
Mervyn's (former locations)	10,094		68,660		—		7,031			10,094		75,249		442		—		85,785		20,832		64,953
Other land and development properties	49,913		—		—		23,587			32,328		4,241		—		36,931		73,500		1,610		71,890
	$	1,757,942	$	6,033,897	$	47,479	$	2,850,338		$	1,894,717	$	8,390,247	$	169,841	$	234,851	$	10,689,656	$	1,892,744	$	8,796,912