Document




Table of Contents		Page
Quarterly Earnings Press Release		i - x
Company Information		1

Financial Summary
	Condensed Consolidated Statements of Income	3
	Condensed Consolidated Balance Sheets	4
	Funds From Operations Attributable to Common Shareholders	5
	Supplemental Income Statement Detail	6
	Supplemental Balance Sheet Detail	7
	Capitalization and Debt Coverage Ratios	8
	Guidance	9

Investment Activity
	Capital Expenditures	11
	New Development	12
	Redevelopment	13
	Land Held for Development	14
	Disposition and Acquisition Summary	15

Summary of Debt
	Debt Information	17
	Debt Information Additional Disclosure	18
	Schedule of Maturities	19
	Schedule of Maturities Additional Disclosure	20

Joint Ventures
	Unconsolidated Joint Venture Financial Statements at 100%	22
	Unconsolidated Joint Venture Financial Statements at Pro rata Share	23
	Investments in Unconsolidated Real Estate Joint Ventures & Partnerships at 100%	24
	Unconsolidated Joint Venture Mortgage Debt Information at 100%	25
	Unconsolidated Joint Venture Mortgage Debt Information Additional Disclosure	26

Portfolio Summary
	Tenant Diversification by Percent of Base Minimum Rent	28
	Portfolio Operating Information	29 - 30
	Top 40 Core-Based Statistical Area (CBSA) Ranked by Population	31

Property Listing
	Summary Property Listing	33
	Property Listing	34 - 42


Corporate Profile

Weingarten Realty Investors is a real estate investment trust organized under the Texas Business Organizations Code that, through its predecessor entity, began the ownership and development of shopping centers and other commercial real estate in 1948. As of June 30, 2017, we owned or operated under long-term leases, interests in 216 properties which are located in 18 states that span the United States from coast to coast. These properties represent approximately 43.4 million square feet of which our interests in these properties aggregated approximately 27.8 million square feet of leasable area. Our properties were 94.5% leased as of June 30, 2017, and historically our portfolio occupancy rate has never been below 90%.

	www.weingarten.com



Weingarten Realty Investors
(in thousands, except per share amounts)
Financial Statements

		Three Months Ended June 30,						Six Months Ended June 30,
		2017			2016			2017			2016
CONDENSED CONSOLIDATED STATEMENTS OF INCOME		(Unaudited)						(Unaudited)
Rentals, net		$	142,963		$	132,814		$	283,781		$	261,323
Other Income		3,060			2,862			5,905			6,770
	Total Revenues	146,023			135,676			289,686			268,093
Depreciation and Amortization		42,157			39,218			84,606			77,097
Operating Expense		26,221			24,663			56,131			48,199
Real Estate Taxes, net		21,632			17,221			39,149			33,078
Impairment Loss		26			—			15,012			43
General and Administrative Expense		6,514			6,388			14,030			12,886
	Total Expenses	96,550			87,490			208,928			171,303
Operating Income		49,473			48,186			80,758			96,790
Interest Expense, net		(20,473		)	(18,558		)	(41,555		)	(39,449		)
Interest and Other Income		1,286			361			3,040			572
Gain on Sale and Acquisition of Real Estate Joint Venture and Partnership Interests		—			—			—			37,392
(Provision) Benefit for Income Taxes		(747		)	(16		)	2,612			(5,915		)
Equity in Earnings of Real Estate Joint Ventures and Partnerships, net		7,430			6,645			12,747			10,738
	Income from Continuing Operations	36,969			36,618			57,602			100,128
Gain on Sale of Property		32,224			1,033			47,987			46,190
Net Income		69,193			37,651			105,589			146,318
Less:	Net Income Attributable to Noncontrolling Interests	(5,341		)	(1,835		)	(10,911		)	(3,428		)
Net Income Attributable to Common Shareholders -- Basic		$	63,852		$	35,816		$	94,678		$	142,890
Net Income Attributable to Common Shareholders -- Diluted		$	64,378		$	35,816		$	94,678		$	143,888



Weingarten Realty Investors
(in thousands)
Financial Statements

		June 30, 2017			December 31, 2016
		(Unaudited)			(Audited)
CONDENSED CONSOLIDATED BALANCE SHEETS
ASSETS
Property		$	4,723,900		$	4,789,145
Accumulated Depreciation		(1,201,236		)	(1,184,546		)
Property Held for Sale, net		18,529			479
Investment in Real Estate Joint Ventures and Partnerships, net		313,674			289,192
Unamortized Lease Costs, net		194,322			208,063
Accrued Rent and Accounts Receivable, net		90,328			94,466
Cash and Cash Equivalents		6,657			16,257
Restricted Deposits and Mortgage Escrows		5,965			25,022
Other, net		194,618			188,850
	Total Assets	$	4,346,757		$	4,426,928

LIABILITIES AND EQUITY
Debt, net		$	2,291,474		$	2,356,528
Accounts Payable and Accrued Expenses		104,393			116,859
Other, net		190,785			191,887
	Total Liabilities	2,586,652			2,665,274

Commitments and Contingencies		—			—
Deferred Compensation Share Awards		—			44,758

EQUITY
Common Shares of Beneficial Interest		3,896			3,885
Additional Paid-In Capital		1,770,415			1,718,101
Net Income Less Than Accumulated Dividends		(182,432		)	(177,647		)
Accumulated Other Comprehensive Loss		(7,901		)	(9,161		)
	Shareholders' Equity	1,583,978			1,535,178
Noncontrolling Interests		176,127			181,718
	Total Liabilities and Equity	$	4,346,757		$	4,426,928

The Company also presents Core FFO as an additional supplemental measure as it is more reflective of the core operating performance of our portfolio of properties. Core FFO is defined as NAREIT FFO excluding charges and gains related to non-cash and non-operating transactions and other events that hinder the comparability of operating results. Specific examples of items excluded from Core FFO include, but are not limited to, gains or losses associated with the extinguishment of debt or other liabilities, impairments of land, transactional costs associated with acquisition and development activities, certain deferred tax provisions/benefits, redemption costs of preferred shares and gains on the disposal of non-real estate assets. NAREIT FFO and Core FFO should not be considered as alternatives to net income or other measurements under GAAP as indicators of operating performance or to cash flows from operating, investing or financing activities as measures of liquidity. NAREIT FFO and Core FFO do not reflect working capital changes, cash expenditures for capital improvements or principal payments on indebtedness.



	Three Months Ended June 30,						Six Months Ended June 30,
	2017			2016			2017			2016
	(Unaudited)						(Unaudited)
Net income attributable to common shareholders	$	63,852		$	35,816		$	94,678		$	142,890
Depreciation and amortization of real estate	41,951			39,010			84,139			76,691
Depreciation and amortization of real estate of unconsolidated real estate joint ventures and partnerships	3,548			3,993			7,187			7,679
Impairment of operating properties and real estate equity investments	2			—			12,007			—
Impairment of operating properties of unconsolidated real estate joint ventures and partnerships	—			—			—			326
(Gain) on acquisition including associated real estate equity investment	—			—			—			(37,383		)
(Gain) on sale of property and interests in real estate equity investments	(31,970		)	(402		)	(47,718		)	(45,557		)
(Gain) on dispositions of unconsolidated real estate joint ventures and partnerships	(1,950		)	(3,139		)	(1,950		)	(3,139		)
Provision (benefit) for income taxes ⁽¹⁾	378			—			(2,014		)	—
Noncontrolling Interests ⁽²⁾	3,045			(457		)	6,414			(899		)
Other	(8		)	(8		)	(8		)	(8		)
NAREIT FFO – basic	78,848			74,813			152,735			140,600
Income attributable to operating partnership units	526			499			1,052			998
NAREIT FFO – diluted	79,374			75,312			153,787			141,598
Adjustments to Core FFO:
Other impairment loss	12			—			3,029			43
(Benefit) provision for income taxes	—			—			(952		)	5,895
Acquisition costs	—			245			—			600
(Gain) on extinguishment of debt	—			(1,679		)	—			(1,679		)
Other	(162		)	(294		)	2,904			(536		)
Core FFO – diluted	$	79,224		$	73,584		$	158,768		$	145,921

FFO weighted average shares outstanding – basic	127,788			125,791			127,700			124,692
Effect of dilutive securities:
Share options and awards	848			1,053			894			1,136
Operating partnership units	1,459			1,462			1,460			1,462
FFO weighted average shares outstanding – diluted	130,095			128,306			130,054			127,290

NAREIT FFO per common share – basic	$	.62		$	.59		$	1.20		$	1.13

NAREIT FFO per common share – diluted	$	.61		$	.59		$	1.18		$	1.11

Core FFO per common share – diluted	$	.61		$	.57		$	1.22		$	1.15

Management considers SPNOI an important additional financial measure because it reflects only those income and expense items that are incurred at the property level and when compared across periods, reflects the impact on operations from trends in occupancy rates, rental rates and operating costs. The Company calculates this most useful measurement by determining our proportional share of SPNOI from all owned properties, including the Company’s share of SPNOI from unconsolidated joint ventures and partnerships, which cannot be readily determined under GAAP measurements and presentation. Although SPNOI (see page 1 of the supplemental disclosure regarding this presentation and limitations thereof) is a widely used measure among REITs, there can be no assurance that SPNOI presented by the Company is comparable to similarly titled measures of other REITs. Additionally, the Company does not control these unconsolidated joint ventures and partnerships, and the assets, liabilities, revenues or expenses of these joint ventures and partnerships, as presented, do not represent its legal claim to such items.



	Three Months Ended June 30,						Six Months Ended June 30,
	2017			2016			2017			2016
	(Unaudited)						(Unaudited)
Net income attributable to common shareholders	$	63,852		$	35,816		$	94,678		$	142,890
Add:
Net income attributable to noncontrolling interests	5,341			1,835			10,911			3,428
(Benefit) provision for income taxes	747			16			(2,612		)	5,915
Interest expense, net	20,473			18,558			41,555			39,449
Less:
Gain on sale of property	(32,224		)	(1,033		)	(47,987		)	(46,190		)
Equity in earnings of real estate joint ventures and partnership interests	(7,430		)	(6,645		)	(12,747		)	(10,738		)
Gain on sale and acquisition of real estate joint venture and partnership interests	—			—			—			(37,392		)
Interest and other income	(1,286		)	(361		)	(3,040		)	(572		)
Operating Income	49,473			48,186			80,758			96,790
Less:
Revenue adjustments ⁽¹⁾	(4,111		)	(3,526		)	(8,220		)	(7,253		)
Add:
Property management fees	655			598			1,580			1,557
Depreciation and amortization	42,157			39,218			84,606			77,097
Impairment loss	26			—			15,012			43
General and administrative	6,514			6,388			14,030			12,886
Acquisition costs	—			174			1			223
Other ⁽²⁾	164			(76		)	3,281			93
Net Operating Income	94,878			90,962			191,048			181,436
Less: NOI related to consolidated entities not defined as same property and noncontrolling interests	(8,739		)	(6,998		)	(18,557		)	(13,951		)
Add: Pro rata share of unconsolidated entities defined as same property	8,402			8,215			16,811			16,297
Same Property Net Operating Income	94,541			92,179			189,302			183,782
Less: Redevelopment Net Operating Income	(8,545		)	(7,986		)	(17,486		)	(16,020		)
Same Property Net Operating Income excluding Redevelopments	$	85,996		$	84,193		$	171,816		$	167,762

This supplement, together with other statements and information publicly disseminated by us, contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and include this statement for purposes of complying with these safe harbor provisions. These forward-looking statements relate to the company’s intentions, beliefs, expectations or projections of the future. It is important to note that the company’s actual results could differ materially from those projected in such forward-looking statements. Factors which may cause actual results to differ materially from current expectations include, but are not limited to: (i) disruptions in financial markets, (ii) general economic and local real estate conditions, (iii) the inability of major tenants to continue paying their rent obligations due to bankruptcy, insolvency or general downturn in their business, (iv) financing risks, such as the inability to obtain equity, debt, or other sources of financing on favorable terms, (v) changes in governmental laws and regulations, (vi) the level and volatility of interest rates, (vii) the availability of suitable acquisition opportunities, (viii) the ability to dispose of properties, (ix) changes in expected development activity, (x) increases in operating costs, (xi) tax matters, including the failure to qualify as a real estate investment trust, and (xii) investments through real estate joint ventures and partnerships, which involve risks not present in investments in which we are the sole investor. Accordingly, there is no assurance that our expectations will be realized.



	Three Months Ended June 30,						Six Months Ended June 30,						Twelve Months Ended December 31,
	2017			2016			2017			2016			2016			2015			2014			2013
Revenues:
Rentals, net	$	142,963		$	132,814		$	283,781		$	261,323		$	537,265		$	502,464		$	503,128		$	477,340
Other	3,060			2,862			5,905			6,770			12,290			10,380			11,278			11,855
Total	146,023			135,676			289,686			268,093			549,555			512,844			514,406			489,195
Expenses:
Depreciation and amortization	42,157			39,218			84,606			77,097			162,535			145,940			150,356			146,763
Operating	26,221			24,663			56,131			48,199			98,855			94,244			95,318			97,099
Real estate taxes, net	21,632			17,221			39,149			33,078			66,358			60,289			60,768			57,515
Impairment loss	26			—			15,012			43			98			153			1,024			2,579
General and administrative	6,514			6,388			14,030			12,886			27,266			27,524			24,902			25,371
Total	96,550			87,490			208,928			171,303			355,112			328,150			332,368			329,327
Operating Income	49,473			48,186			80,758			96,790			194,443			184,694			182,038			159,868
Interest Expense, net	(20,473		)	(18,558		)	(41,555		)	(39,449		)	(83,003		)	(87,783		)	(94,725		)	(96,312		)
Interest and Other Income	1,286			361			3,040			572			2,569			4,563			3,756			7,685
Gain on Sale and Acquisition of Real Estate Joint Venture and Partnership Interests	—			—			—			37,392			48,322			879			1,718			33,670
(Provision) Benefit for Income Taxes	(747		)	(16		)	2,612			(5,915		)	(6,856		)	(52		)	1,261			(7,046		)
Equity in Earnings of Real Estate Joint Ventures and Partnerships, net (a)	7,430			6,645			12,747			10,738			20,642			19,300			22,317			35,112
Income from Continuing Operations	36,969			36,618			57,602			100,128			176,117			121,601			116,365			132,977
Operating Income from Discontinued Operations	—			—			—			—			—			—			342			12,214
Gain on Sale of Property from Discontinued Operations	—			—			—			—			—			—			44,582			119,203
Income from Discontinued Operations	—			—			—			—			—			—			44,924			131,417
Gain on Sale of Property	32,224			1,033			47,987			46,190			100,714			59,621			146,290			762
Net Income	69,193			37,651			105,589			146,318			276,831			181,222			307,579			265,156
Less: Net Income Attributable to Noncontrolling Interests	(5,341		)	(1,835		)	(10,911		)	(3,428		)	(37,898		)	(6,870		)	(19,571		)	(44,894		)
Net Income Adjusted for Noncontrolling Interests	63,852			35,816			94,678			142,890			238,933			174,352			288,008			220,262
Dividends on Preferred Shares	—			—			—			—			—			(3,830		)	(10,840		)	(18,173		)
Redemption Costs of Preferred Shares	—			—			—			—			—			(9,687		)	—			(17,944		)
Net Income Attributable to Common Shareholders	$	63,852		$	35,816		$	94,678		$	142,890		$	238,933		$	160,835		$	277,168		$	184,145
Earnings Per Common Share - Basic	$	0.50		$	0.28		$	0.74		$	1.15		$	1.90		$	1.31		$	2.28		$	1.52
Earnings Per Common Share - Diluted	$	0.49		$	0.28		$	0.74		$	1.13		$	1.87		$	1.29		$	2.25		$	1.50



	June 30, 2017			December 31, 2016

ASSETS
Property	$	4,723,900		$	4,789,145
Accumulated Depreciation	(1,201,236		)	(1,184,546		)
Property Held for Sale, net	18,529			479
Property, net	3,541,193			3,605,078

Investment in Real Estate Joint Ventures and Partnerships, net (a)	313,674			289,192
Total	3,854,867			3,894,270

Unamortized Lease Costs, net	194,322			208,063
Accrued Rent and Accounts Receivable (net of allowance for doubtful accounts of $6,863 in 2017 and $6,700 in 2016)	90,328			94,466
Cash and Cash Equivalents	6,657			16,257
Restricted Deposits and Mortgage Escrows	5,965			25,022
Other, net	194,618			188,850
Total Assets	$	4,346,757		$	4,426,928

LIABILITIES AND EQUITY
Debt, net	$	2,291,474		$	2,356,528
Accounts Payable and Accrued Expenses	104,393			116,859
Other, net	190,785			191,887
Total Liabilities	2,586,652			2,665,274

Commitments and Contingencies	—			—
Deferred Compensation Share Awards	—			44,758

Equity:
Shareholders' Equity:
Common Shares of Beneficial Interest - par value, $.03 per share; shares authorized: 275,000; shares issued and outstanding: 128,418 in 2017 and 128,072 in 2016	3,896			3,885
Additional Paid-In Capital	1,770,415			1,718,101
Net Income Less Than Accumulated Dividends	(182,432		)	(177,647		)
Accumulated Other Comprehensive Loss	(7,901		)	(9,161		)
Total Shareholders' Equity	1,583,978			1,535,178
Noncontrolling Interests	176,127			181,718
Total Equity	1,760,105			1,716,896
Total Liabilities and Equity	$	4,346,757		$	4,426,928



	Three Months Ended June 30,						Six Months Ended June 30,
	2017			2016			2017			2016
Funds From Operations Attributable to Common Shareholders (NAREIT FFO)
Numerator:
Net income attributable to common shareholders	$	63,852		$	35,816		$	94,678		$	142,890
Depreciation and amortization of real estate	41,951			39,010			84,139			76,691
Depreciation and amortization of real estate of unconsolidated real estate joint ventures and partnerships	3,548			3,993			7,187			7,679
Impairment of operating properties and real estate equity investments	2			—			12,007			—
Impairment of operating properties of unconsolidated real estate joint ventures and partnerships	—			—			—			326
(Gain) on acquisition including associated real estate equity investment	—			—			—			(37,383		)
(Gain) on sale of property and interests in real estate equity investments	(31,970		)	(402		)	(47,718		)	(45,557		)
(Gain) on dispositions of unconsolidated real estate joint ventures and partnerships	(1,950		)	(3,139		)	(1,950		)	(3,139		)
Provision (benefit) for income taxes ⁽¹⁾	378			—			(2,014		)	—
Noncontrolling Interests ⁽²⁾	3,045			(457		)	6,414			(899		)
Other	(8		)	(8		)	(8		)	(8		)
NAREIT FFO - Basic	78,848			74,813			152,735			140,600
Income attributable to operating partnership units	526			499			1,052			998
NAREIT FFO - Diluted	79,374			75,312			153,787			141,598
Adjustments for Core FFO:
Other impairment loss	12			—			3,029			43
(Benefit) provision for income taxes	—			—			(952		)	5,895
(Gain) on extinguishment of debt	—			(1,679		)	—			(1,679		)
Acquisition costs	—			245			—			600
Other	(162		)	(294		)	2,904			(536		)
Core FFO - Diluted	$	79,224		$	73,584		$	158,768		$	145,921

Denominator:
FFO weighted average number of common shares outstanding - Basic	127,788			125,791			127,700			124,692
Effect of dilutive securities:
Share options and awards	848			1,053			894			1,136
Operating partnership units	1,459			1,462			1,460			1,462
FFO weighted average number of common shares outstanding - Diluted	130,095			128,306			130,054			127,290

NAREIT FFO Per Common Share - Basic	$	0.62		$	0.59		$	1.20		$	1.13

NAREIT FFO Per Common Share - Diluted	$	0.61		$	0.59		$	1.18		$	1.11
Adjustments for Core FFO per common share:
Other impairment loss	—			—			0.02			—
(Benefit) provision for income taxes	—			—			—			0.05
(Gain) on extinguishment of debt	—			(0.01		)	—			(0.01		)
Other	—			(0.01		)	0.02			—
Core FFO Per Common Share - Diluted	$	0.61		$	0.57		$	1.22		$	1.15

(in thousands)



	Three Months Ended June 30,						Six Months Ended June 30,
	2017			2016			2017			2016
Rentals, net
Base minimum rent, net	$	106,366		$	101,649		$	213,207		$	200,904
Straight line rent	1,147			1,557			2,770			2,930
Over/Under-market rentals, net	947			269			1,830			221
Percentage rent	1,047			1,016			1,787			2,005
Tenant reimbursements	33,456			28,323			64,187			55,263
Total	$	142,963		$	132,814		$	283,781		$	261,323

Other Income
Recurring fee income	$	1,634		$	1,601		$	3,187		$	3,055
Non-Recurring fee income	60			4			110			171
Miscellaneous revenue	1,043			1,162			2,285			2,668
Lease cancellation revenue	323			95			323			876
Total	$	3,060		$	2,862		$	5,905		$	6,770

Interest Expense, net
Interest paid or accrued	$	20,900		$	20,607		$	42,037		$	41,319
Gain on extinguishment of debt	—			(2,037		)	—			(2,037		)
Amortization of debt deferred costs	955			890			1,918			1,767
Over/Under-market mortgage adjustment of acquired properties, net	(302		)	(285		)	(497		)	(463		)
Gross interest expense	21,553			19,175			43,458			40,586
Capitalized interest	(1,080		)	(617		)	(1,903		)	(1,137		)
Total	$	20,473		$	18,558		$	41,555		$	39,449

Interest and Other Income
Deferred compensation investment income	$	1,205		$	248		$	2,881		$	288
Other	81			113			159			284
Total	$	1,286		$	361		$	3,040		$	572

Supplemental Analyst Information

Equity in Earnings of Real Estate Joint Ventures and Partnerships, net
Net income from unconsolidated real estate joint ventures and partnerships	$	6,444		$	6,023		$	10,878		$	9,145
Intercompany fee income reclass	683			613			1,354			1,256
Other adjustments	303			9			515			337
Equity in earnings of real estate joint ventures and partnerships, net	$	7,430		$	6,645		$	12,747		$	10,738

Dividends
Common Dividends per Share	$	0.385		$	0.365		$	0.770		$	0.730

Common Dividends Paid as a % of Reported Funds from Operations - Basic	62.7		%	61.9		%	64.7		%	65.2		%

Common Dividends Paid as a % of Core Funds from Operations - Basic	62.8		%	63.3		%	62.7		%	63.3		%

General and Administrative Expenses
General and Administrative Expenses/Total Revenue	4.5		%	4.7		%	4.8		%	4.8		%

General and Administrative Expenses/Total Assets before Depreciation	0.12		%	0.12		%	0.25		%	0.25		%

Net Operating Income Additional Disclosures

Minority Interests Share of Net Operating Income and Other Adjustments	$	(1,302	)	$	(1,685	)	$	(2,623	)	$	(2,894	)

Pro rata Share of Unconsolidated Joint Ventures
Revenues	13,903			12,992			27,427			26,522
Operating expense	(2,267		)	(2,466		)	(4,674		)	(5,630		)
Real estate taxes	(2,174		)	(1,726		)	(3,864		)	(3,475		)

Net Operating Income from Sold Properties	449			3,458			2,075			7,196



	June 30, 2017			December 31, 2016

Property
Land	$	1,109,163		$	1,107,072
Land held for development	72,009			82,953
Land under development	48,780			51,761
Buildings and improvements	3,411,373			3,489,685
Construction in-progress	82,575			57,674
Total	$	4,723,900		$	4,789,145

Straight Line Rent Receivable
	$	64,034		$	62,955

Other Assets, net
Notes receivable and mortgage bonds, net	$	28,775		$	28,784
Debt service guaranty asset	67,125			67,125
Non-qualified benefit plan assets	28,706			26,331
Out-of-market leases, net	28,803			31,016
Investments	13,114			12,910
Deferred income tax asset	13,891			10,834
Interest rate derivative	623			126
Unamortized debt costs, net	2,843			3,229
Other	10,738			8,495
Total	$	194,618		$	188,850

Other Liabilities, net
Deferred revenue	$	9,568		$	9,535
Non-qualified benefit plan liabilities	64,964			61,916
Deferred income tax payable	11,877			11,640
Out-of-market leases, net	83,037			87,769
Other	21,339			21,027
Total	$	190,785		$	191,887

Identified Intangible Assets and Liabilities
Identified Intangible Assets:
Above-market leases (included in Other Assets, net)	$	44,284		$	44,595
Above-market leases - Accumulated Amortization	(15,481		)	(13,579		)
Below-market assumed mortgages (included in Debt, net)	—			1,671
Below-market assumed mortgages - Accumulated Amortization	—			(1,564		)
In place leases (included in Unamortized Lease Costs, net)	227,083			232,528
In place leases - Accumulated Amortization	(89,154		)	(82,571		)
Total	$	166,732		$	181,080

Identified Intangible Liabilities:
Below-market leases (included in Other Liabilities, net)	$	109,128		$	110,878
Below-market leases - Accumulated Amortization	(26,091		)	(23,109		)
Above-market assumed mortgages (included in Debt, net)	10,063			10,375
Above-market assumed mortgages - Accumulated Amortization	(5,478		)	(5,186		)
Total	$	87,622		$	92,958



2017 Guidance


	Previous Guidance	Q2 Revised Guidance


Net income attributable to common shareholders	$0.94 - $1.00	$2.22 - $2.28
Depreciation and amortization	1.38 - 1.40	1.39 - 1.41
Impairment of operating properties	0.08 - 0.10	0.08 - 0.10
(Gain) on sale of property and interests in RE equity investments	(0.08) - (0.10)	(1.40) - (1.44)
Noncontrolling interests		0.04 - 0.06
(Benefit) provision for income taxes	(0.01) - (0.03)	(0.01) - (0.03)
NAREIT FFO - Basic	2.31 - 2.37	2.32 - 2.38
Income attributable to operating partnership units	0.02 - 0.02	0.02 - 0.02
NAREIT FFO Per Common Share - Diluted	$2.33 - $2.39	$2.34 - $2.40
Other impairment loss	0.02 -.0.02	0.02 -.0.02
(Benefit) provision for income taxes	(0.01) - (0.01)	(0.01) - (0.01)
Other	0.03 - 0.03	0.03 - 0.03
Core FFO Per Common Share - Diluted	$2.37 - $2.43	$2.38 - $2.44





Portfolio Activity ($ in millions)
Acquisitions	$125 - $225	$50 - $150

Re / New Development	$135 - $235	$125 - $175

Dispositions	$125 - $225	$200 - $400


Operating Information
Same Property Net Operating Income with redevelopments	+2.5% to +3.5%	+2.5% to +3.5%

Same Property Net Operating Income without redevelopments	+2.0% to +3.0%	+2.0% to +3.0%


Denotes change to guidance

(1) Average ROI by Product Type:

Retail 6.1% - 6.4%

Multifamily 5.3% - 5.6%

Office 6.3% - 6.6%

(2) WRI will participate in the development of this mixed-use property. WRI has a 90% equity interest in the property and is committed to fund an additional $101 million in equity and debt.

The Company cannot guarantee that (i) ROI will be generated at the percentage listed or at all, (ii) total estimated investment associated with these projects will be equal to the actual investment, (iii) project completion or stabilization will occur when anticipated or (iv) that the Company will ultimately complete any of these projects. The ROI and total estimated investment reflect the Company's best estimate based upon current information, may change over time and are subject to certain conditions which are beyond the Company's control, including, without limitation, general economic conditions, market conditions and other business factors.

Note:

Pro rata financial information is not, and is not intended to be, a presentation in accordance with generally accepted accounting principles. See page 1 for information regarding this presentation and the limitations thereof.



Redevelopment (1)

			Included	Total		Cost		Cost	%	Est./Act.	Est./Act.	Est./Act.
			in SPNOI	Estimated		Incurred -		Incurred -	Placed in	Incremental	Anchor	Stabilized
	Center	MSA	w/redev (2)	Investment		Year-To-Date		To-Date	Service (3)	ROI%	Opening	Quarter	Key Tenants / Description

	Large Redevelopments (incremental investment) (4)
1	River Oaks Shopping Center	Houston, TX	N (5)	$	150,000	1,380		1,380	—	5.5 - 7.5 %	NA	2H 21	30-Story Residential High-Rise and 10,000 SF Retail Mixed-Use building
2	Sunset Point 19	Clearwater, FL	Y	$	22,522	4,990		6,681	—	8.0 - 10.0	1H 17	2H 17	Total Center redevelopment with three new shop space buildings
3	Decatur 215	Las Vegas, NV	Y	$	16,827	(910	)	14,576	94%	12.0 - 14.0	Q2 15	1H 17	Hobby Lobby, Ross, Ulta and shops and restaurants
4	Winter Park Corners	Orlando, FL	Y	$	13,500	24		24	—	9.0 - 11.0	2H 18	2H 18	30,000 SF Grocer; 12,600 SF and 3,600 SF new shop space buildings
	Total Large Redevelopments			202,849		5,484		22,661	36%	5.5 - 7.5%

	Other Redevelopments (13 Properties)			35,276		8,272		14,754	12%	10.0 - 12.0%

	Total Active Redevelopments			238,125		13,756		37,415	32%	7.5 - 9.5%



Summary of asset allocation:	Developments		Redevelopments		Total
Land	$	—	$	—	$	—
Land Under Development	48,780		—		48,780
Building and Improvements	—		29,633		29,633
CIP	30,356		7,782		38,138
Other various accounts	29,442		—		29,442
Property	$	108,578	$	37,415	$	145,993

Cash NOI Summary
Cash NOI included for the Three Months Ended June 30, 2017:	$	—	$	616	$	616

(1) Redevelopment is defined where GLA is added either through new construction or expansion of an existing space or where incremental investment is over $5 million.

(2) A property is removed from the Company's same store portfolio if the project is considered to significantly impact the existing property's NOI and activities have begun in anticipation of the project.

(3) Represents the percentage of project GLA for which the leases of the applicable tenants have commenced.

(4) Large Redevelopment is defined where Total Estimated Investment exceeds $10 million on an individual project.

(5) Project is in the planning stage. Until material investment is made, the property will remain in SPNOI.

Note:



	Ownership Interest		Gross Acres	Investment (1)
Location	Ownership Interest		Gross Acres	100%		Pro Rata

New Development Phased Projects
Highway 17 and Highway 210, Surf City, NC	100.0	%	46.5
US Hwy. 1 and Caveness Farms Rd., Wake Forest, NC	100.0	%	22.7
US 77 & FM 802, Brownsville, TX	100.0	%	21.0
FM 2920 and Future 249, Tomball - Houston, TX	100.0	%	10.6
Hwy. 85 & Hwy. 285, Sheridan, CO	100.0	%	8.6
US Hwy. 17 & US Hwy. 74/76, Leland, NC	100.0	%	8.3
Belle Terre Pkwy. & State Rd. 100, Palm Coast, FL	100.0	%	6.7
SR 207 & Rolling Hills Drive, St. Augustine, FL	70.0	%	5.2
29th St. at Nolana Loop, McAllen, TX	50.0	%	3.8
Total New Development Phased Projects			133.4	$	19,774	$	18,287
Other Raw Land
FM 1957 (Potranco Rd.) and FM 211, San Antonio, TX	50.0	%	129.4
South Fulton Parkway and SH 92, Union City - Atlanta, GA	100.0	%	81.6
SH 281 & Wilderness Oaks, San Antonio, TX	100.0	%	29.2
Lon Adams Rd. at Tangerine Farms Rd. - Marana, AZ	100.0	%	9.7
SH 151 & Ingram Rd., San Antonio, TX	66.7	%	5.8
Rock Prairie Rd. at Hwy. 6, College Station, TX	100.0	%	5.3
Shary Road and US Hwy. 83, Mission, TX	50.0	%	4.0
Leslie Rd. at Bandera Rd., Helotes, TX	100.0	%	1.7
Other	100.0	%	21.2
Total Raw Land			287.9	$	51,320	$	37,791

Total Land Held For Development Properties			421.3	$	71,094	$	56,078



	June 30, 2017			2nd Quarter Weighted Average Rate (1)		December 31, 2016			4th Quarter Weighted Average Rate (1)
Outstanding Balance Summary
Mortgage Debt	$	401,986		5.00	%	$	423,791		5.10	%
3.375% Notes due 2022	299,344			3.38	%	299,288			3.38	%
3.5% Notes due 2023	299,127			3.50	%	299,059			3.50	%
4.45% Notes due 2024	249,289			4.45	%	249,241			4.45	%
3.85% Notes due 2025	248,430			3.85	%	248,346			3.85	%
3.25% Notes due 2026	248,048			3.25	%	247,957			3.25	%
Term Loan (2)	200,000			2.47	%	200,000			2.47	%
Unsecured Notes Payable (MTN)	66,285			6.70	%	66,290			6.00	%
Revolving Credit Agreements (3)	200,560			1.84	%	245,000			1.39	%
Obligations under Capital Leases	21,000			7.96	%	21,000			7.94	%
Unamortized Loan Costs	(9,720		)			(10,569		)
Subtotal Consolidated Debt	2,224,349			3.80	%	2,289,403			3.89	%
Debt Service Guarantee Liability (4)	67,125					67,125
Total Consolidated Debt - As Reported	$	2,291,474		3.80	%	$	2,356,528		3.89	%

	As Reported
Weighted Average Interest Rates (1)
Three months ended 06/30/17	3.80		%
Six months ended 06/30/17	3.77		%
Three months ended 12/31/16	3.89		%
Twelve months ended 12/31/16	3.98		%



	Debt Balance			Weighted Average Rate (1)		% of Total		Weighted Average Remaining Life (yrs)
Fixed vs. Variable Rate Debt (includes the effect of interest rate swaps)
As of June 30, 2017
Fixed-rate debt	$	2,139,111		3.95	%	90.6	%	6.53
Variable-rate debt	222,179			1.82	%	9.4	%	2.57
Total	$	2,361,290		3.78	%	100.0	%	6.16

As of December 31, 2016
Fixed-rate debt	$	2,159,732		4.03	%	89.0	%
Variable-rate debt	266,759			1.67	%	11.0	%
Total	$	2,426,491		3.86	%	100.0	%

Secured vs. Unsecured Debt
As of June 30, 2017
Secured Debt	$	491,793		4.88	%	20.8	%	5.86
Unsecured Debt	1,869,497			3.45	%	79.2	%	6.24
Total	$	2,361,290		3.78	%	100.0	%	6.16

As of December 31, 2016
Secured Debt	$	513,091		4.94	%	21.1	%
Unsecured Debt	1,913,400			3.56	%	78.9	%
Total	$	2,426,491		3.86	%	100.0	%


Additional Information	June 30,					December 31,
Reconciling items to pro rata debt	2017					2016
Noncontrolling Interests and Other Adjustments	(39,723		)			(39,960	)
WRI Share of Unconsolidated Joint Ventures	109,539					109,923

Weighted Average Interest Rates (1)
Three months ended 06/30/17				3.78	%
Six months ended 06/30/17				3.76	%
Three months ended 12/31/16				3.86	%
Twelve months ended 12/31/16				3.98	%



	Three Months Ended June 30,						Six Months Ended June 30,
Condensed Statements of Income	2017			2016			2017			2016

Revenues:
Base minimum rent, net	$	25,250		$	25,812		$	50,432		$	52,181
Straight line rent	(404		)	189			(348		)	313
Over/Under-market rentals, net	44			7			169			847
Percentage rent	88			(11		)	240			83
Tenant reimbursements	8,639			7,795			16,541			15,929
Other income	2,444			354			3,765			715
Total	36,061			34,146			70,799			70,068

Expenses:
Depreciation and amortization	8,791			10,605			17,804			19,986
Interest, net	3,110			5,622			6,077			9,630
Operating	5,810			6,358			11,928			13,961
Real estate taxes, net	5,451			4,494			9,719			8,986
General and administrative	294			312			662			455
Provision (benefit) for income taxes	40			(31		)	47			28
Impairment loss	—			—			—			1,303
Total	23,496			27,360			46,237			54,349

Gain on sale of non-operating property	—			—			—			373
Gain on dispositions	3,896			12,591			3,896			12,591

Net income	$	16,461		$	19,377		$	28,458		$	28,683


Condensed Balance Sheets
							June 30, 2017			December 31, 2016

ASSETS

Property							$	1,229,280		$	1,196,770
Accumulated depreciation							(274,208		)	(261,392		)
Property, net							955,072			935,378

Other assets, net							113,716			114,554

Total							$	1,068,788		$	1,049,932

LIABILITIES AND EQUITY

Debt, net							$	300,759		$	301,480
Amounts payable to Weingarten Realty Investors and Affiliates							11,432			12,585
Other liabilities, net							23,856			24,902
Total							336,047			338,967

Equity							732,741			710,965

Total							$	1,068,788		$	1,049,932



	Three Months Ended June 30,						Six Months Ended June 30,
Condensed Statements of Income	2017			2016			2017			2016
Revenues:
Base minimum rent, net	$	9,944		$	9,848		$	19,893		$	19,863
Straight line rent	(117		)	42			(142		)	90
Over/Under-market rentals, net	(23		)	(39		)	(4		)	104
Percentage rent	31			(7		)	102			35
Tenant reimbursements	3,516			2,992			6,680			6,113
Other income	552			156			898			317
Total	13,903			12,992			27,427			26,522

Expenses:
Depreciation and amortization	3,548			3,993			7,187			7,679
Interest, net	1,308			1,853			2,549			3,500
Operating	2,267			2,466			4,674			5,630
Real estate taxes, net	2,174			1,726			3,864			3,475
General and administrative	95			91			207			139
Provision (benefit) for income taxes	17			(21		)	18			10
Impairment loss	—			—			—			326
Total	9,409			10,108			18,499			20,759

Gain on sale of non-operating property	—			—			—			243
Gain on dispositions	1,950			3,139			1,950			3,139

Net income	$	6,444		$	6,023		$	10,878		$	9,145


Condensed Balance Sheets							June 30, 2017			December 31, 2016

ASSETS

Property							$	483,849		$	455,485
Accumulated depreciation							(102,428		)	(97,574		)
Property, net							381,421			357,911

Notes receivable from real estate joint ventures and partnerships							4,285			4,404
Unamortized lease costs, net							14,438			15,432
Accrued rent and accounts receivable (net of allowance for doubtful accounts of $392 in 2017 and $283 in 2016)							8,578			9,949
Cash and cash equivalents							17,586			15,160
Restricted deposits and mortgage escrows							—			188
Out-of-market leases, net							1,244			1,451
Other assets, net							1,092			4,725
Total							$	428,644		$	409,220

LIABILITIES AND EQUITY

Debt, net							$	109,505		$	110,012
Amounts payable to Weingarten Realty Investors and Affiliates							5,047			5,669
Accounts payable and accrued expenses							4,805			6,014
Deferred revenue							957			995
Out-of-market leases, net							3,381			3,583
Other liabilities, net							437			483
Total							124,132			126,756

Equity							304,512			282,464

Total							$	428,644		$	409,220



Rank	Tenant Name (1)(2)	Credit Ranking (S&P / Moody's)	# of Units	Total Annualized Base Minimum Rent		% of Total Annualized Base Minimum Rent		Total SF	% of Total SF

1	The Kroger Co.	BBB/Baa1	26	$	12,372	2.68	%	1,515	5.44	%
2	TJX Companies, Inc.	A+/A2	44	11,820		2.56	%	1,159	4.16	%
3	Ross Stores, Inc.	A-/A3	33	8,972		1.94	%	730	2.62	%
4	PetSmart, Inc.	B+/B1	23	7,164		1.55	%	433	1.56	%
5	H-E-B	N/A/N/A	8	7,121		1.54	%	539	1.94	%
6	Whole Foods Market, Inc.	BBB-/Baa3	8	6,715		1.46	%	343	1.23	%
7	Bed Bath & Beyond, Inc.	BBB+/Baa1	19	5,868		1.27	%	462	1.66	%
8	Office Depot, Inc.	N/A/B1	24	5,574		1.21	%	455	1.63	%
9	Albertsons	N/A/N/A	14	5,362		1.16	%	637	2.29	%
10	Best Buy, Inc.	BBB-/Baa1	10	5,027		1.09	%	290	1.04	%
11	24 Hour Fitness Inc.	B/B2	8	5,027		1.09	%	225	0.81	%
12	Home Depot, Inc.	A/A2	4	4,701		1.02	%	435	1.56	%
13	Dollar Tree Stores, Inc.	BB+/Ba1	42	4,657		1.01	%	423	1.52	%
14	Petco Animal Supplies, Inc.	B/B2	18	3,789		0.82	%	211	0.76	%
15	Hobby Lobby Stores, Inc.	N/A/N/A	7	3,529		0.76	%	415	1.49	%
16	Gap, Inc.	BB+/Baa2	12	3,301		0.72	%	174	0.62	%
17	Walmart Stores, Inc.	AA/Aa2	6	3,017		0.65	%	453	1.63	%
18	Nordstrom Rack	BBB+/Baa1	5	2,934		0.64	%	125	0.45	%
19	Ascena Retail Group	BB-/Ba3	25	2,927		0.63	%	136	0.49	%
20	Dick's Sporting Goods	N/A/N/A	5	2,926		0.63	%	148	0.53	%
21	Starbucks Corporation	A/A2	42	2,733		0.59	%	67	0.24	%
22	Mattress Firm	N/A/N/A	23	2,651		0.57	%	85	0.31	%
23	JPMorgan Chase Bank	A+/A3	23	2,632		0.57	%	85	0.30	%
24	LA Fitness	B+/B2	4	2,605		0.56	%	133	0.48	%
25	Barnes & Noble Inc.	N/A/N/A	6	2,585		0.56	%	153	0.55	%

	Grand Total		439	$	126,009	27.28	%	9,831	35.31	%




	(1	)	Tenant Names:	DBA Names:
			The Kroger Co.	Kroger (12), Harris Teeter (7), Fry's Food (3), King Soopers (2), Ralph's (1), Smith's Food (1)
			TJX Companies, Inc.	Marshalls (21), T.J. Maxx (15), Home Goods (8)
			Ross Stores, Inc.	Ross Dress for Less (31), dd's Discounts (2)
			Bed Bath & Beyond, Inc.	Bed Bath & Beyond (11), Cost Plus (6), buybuy BABY (2)
			Office Depot, Inc.	Office Depot (15), Office Max (9)
			Albertsons	Safeway (6), Randall's (4), Albertsons (2), Von's (2)
			Dollar Tree Stores, Inc.	Dollar Tree (37), Family Dollar (5)
			Gap, Inc.	Old Navy (10), Gap (2)
			Walmart Stores, Inc.	Walmart Neighborhood Market (3), Walmart (2), Walmart Supercenter (1)
			Ascena Retail Group	Dressbarn (9), Lane Bryant (9), Justice (4), AnnTaylor (1), Catherines (1), Loft (1)
			Dick's Sporting Goods	Golf Galaxy (3), Dick's Sporting Goods (2)
			Mattress Firm	Mattress Firm (20), Bedmart (1), Mattress Giant (1), Mattress Pro (1)

	(2	)	Target owns and occupies 24 units not included above.

Note:
Pro rata financial information is not, and is not intended to be, a presentation in accordance with generally accepted accounting principles. See page 1 for information regarding this presentation and the limitations thereof.



Leasing Activity / Rent Growth
Signed Leases

	Comparable:							Number of Leases	Square Feet		New Rent $/SF		Prior Rent $/SF			TI's $/SF		Cash Change in Base Rent		Weighted Average Term (Years)

	All Leases
	Quarter Ended June 30, 2017							224	838		$	19.89	$	17.55		$	9.24	13.4	%
	Quarter Ended March 31, 2017							276	1,518		17.31		15.81			2.76		9.5	%
	Quarter Ended December 31, 2016							227	892		19.87		17.62			5.35		12.8	%
	Quarter Ended September 30, 2016							240	972		18.35		16.75			5.50		9.5	%
	Rolling 12 months							967	4,220		$	18.60	$	16.78		$	5.23	10.8	%

	New Leases
	Quarter Ended June 30, 2017							42	144		$	23.17	$	16.16		$	53.83	43.4	%	8.4
	Quarter Ended March 31, 2017							62	166		21.38		19.86			25.31		7.6	%	7.6
	Quarter Ended December 31, 2016							49	155		19.02		15.54			30.92		22.4	%	7.4
	Quarter Ended September 30, 2016							55	160		22.65		18.99			33.29		19.3	%	7.8
	Rolling 12 months							208	625		$	21.54	$	17.91		$	35.31	20.3	%	7.8

	Renewals
	Quarter Ended June 30, 2017							182	694		$	19.21	$	17.84		$	—	7.7	%
	Quarter Ended March 31, 2017							214	1,352		16.81		15.32			—		9.8	%
	Quarter Ended December 31, 2016							178	737		20.05		18.05			—		11.0	%
	Quarter Ended September 30, 2016							185	812		17.50		16.31			0.01		7.3	%
	Rolling 12 months							759	3,595		$	18.09	$	16.59		$	—	9.1	%

	Comparable & Non-Comparable:
	Quarter Ended June 30, 2017							264	1,067
	Quarter Ended March 31, 2017							303	1,591
	Quarter Ended December 31, 2016							256	991
	Quarter Ended September 30, 2016							276	1,058
	Rolling 12 months							1,099	4,707


Lease
Expirations (1)

Assumes No Exercise of Renewal Options

	Anchor Tenants (2)							Non-Anchor Tenants								Total Tenants
Year	Square Feet	Percent of Total Square Feet		In Place Min Rent PSF		Percent of Total Revenue (3)		Square Feet	Percent of Total Square Feet		In Place Min Rent PSF		Percent of Total Revenue (3)			Square Feet		Percent of Total Square Feet		In Place Min Rent PSF		Percent of Total Revenue (3)
M-T-M	—	0	%	$	—	0	%	—	0	%	$	—	0		%	—		0	%	$	—	0	%
2017	426	3	%	10.36		2	%	622	7	%	25.40		6		%	1,048		4	%	19.29		5	%
2018	1,890	12	%	10.94		10	%	1,467	16	%	26.53		16		%	3,357		13	%	17.76		13	%
2019	2,162	13	%	10.70		12	%	1,322	15	%	27.08		14		%	3,484		14	%	16.92		13	%
2020	2,162	13	%	11.53		13	%	1,346	15	%	27.87		15		%	3,508		14	%	17.80		14	%
2021	2,150	13	%	10.92		12	%	1,484	17	%	27.17		16		%	3,634		14	%	17.55		14	%
2022 - 2027	6,004	37	%	13.17		40	%	2,542	28	%	28.53		29		%	8,546		34	%	17.74		34	%



CBSA		Property	Owned	% of		Occupancy
Rank	CBSA	Count	GLA	ABR (1)		%

2	Los Angeles-Long Beach-Anaheim, CA	5	791	4.4	%	97.9	%
4	Dallas-Fort Worth-Arlington, TX	3	436	1.5	%	96.1	%
5	Houston-The Woodlands-Sugar Land, TX	36	4,168	15.6	%	94.7	%
7	Washington-Arlington-Alexandria, DC-VA-MD-WV	4	332	2.5	%	100.0	%
8	Miami-Fort Lauderdale-West Palm Beach, FL	14	2,160	8.6	%	95.1	%
9	Atlanta-Sandy Springs-Roswell, GA	13	1,644	5.5	%	96.6	%
11	San Francisco-Oakland-Hayward, CA	3	442	2.4	%	97.6	%
12	Phoenix-Mesa-Scottsdale, AZ	16	1,496	5.6	%	95.3	%
13	Riverside-San Bernardino-Ontario, CA	5	936	4.2	%	94.1	%
15	Seattle-Tacoma-Bellevue, WA	6	166	1.0	%	98.6	%
17	San Diego-Carlsbad, CA	3	286	1.6	%	97.1	%
18	Tampa-St. Petersburg-Clearwater, FL	5	947	2.9	%	95.1	%
19	Denver-Aurora-Lakewood, CO	8	1,127	3.9	%	91.7	%
21	Baltimore-Columbia-Towson, MD	1	131	0.8	%	100.0	%
22	Charlotte-Concord-Gastonia, NC-SC	2	159	0.6	%	94.8	%
23	Orlando-Kissimmee-Sanford, FL	7	1,362	5.1	%	95.4	%
24	San Antonio-New Braunfels, TX	4	576	1.4	%	87.2	%
25	Portland-Vancouver-Hillsboro, OR-WA	3	120	0.3	%	51.5	%
27	Sacramento--Roseville--Arden-Arcade, CA	4	571	1.2	%	89.7	%
30	Las Vegas-Henderson-Paradise, NV	11	1,920	6.6	%	95.9	%
33	Austin-Round Rock, TX	1	351	1.3	%	98.8	%
36	San Jose-Sunnyvale-Santa Clara, CA	2	303	1.4	%	76.8	%
	Top 40 CBSA's Ranked by Population	156	20,424	78.4	%	94.5	%
	All other CBSA's Ranked by Population	60	7,406	21.6	%	94.3	%
	Grand Total	216	27,830	100.0	%	94.5	%


	(1) ABR includes ground leases



		Gross Leasable Area
ALL PROPERTIES BY STATE	# of Properties	WRI Owned	Joint Venture Share	Owned by Other	Total

Arizona	21	2,127,121	93,342	1,262,285	3,482,748
Arkansas	1	180,200	—	—	180,200
California	27	4,030,812	52,614	946,616	5,030,042
Colorado	8	1,126,831	205,228	1,036,338	2,368,397
Florida	31	4,919,537	1,600,318	1,228,110	7,747,965
Georgia	14	1,647,437	137,071	897,264	2,681,772
Kentucky	4	631,761	—	127,614	759,375
Louisiana	1	136,108	—	—	136,108
Maryland	2	212,098	—	—	212,098
Nevada	11	1,919,941	—	1,596,766	3,516,707
New Mexico	1	112,666	—	27,330	139,996
North Carolina	16	1,778,534	—	978,034	2,756,568
Oregon	3	119,871	90,777	66,276	276,924
Tennessee	5	700,502	—	154,340	854,842
Texas	61	7,587,175	2,057,197	2,479,954	12,124,326
Utah	1	182,099	—	122,800	304,899
Virginia	3	250,811	—	—	250,811
Washington	6	166,554	325,257	65,571	557,382
Total	216	27,830,058	4,561,804	10,989,298	43,381,160




Center	CBSA		Owned %		Foot Notes	Owned GLA	Total GLA	Average Base Rent (ABR)	Occupancy %		Grocer Anchor	Other Anchors ( ) indicates owned by others
Operating Properties
Arizona
Broadway Marketplace	Phoenix-Mesa-Scottsdale, AZ		100.0	%		82,757	87,379	14.86	89.7	%		Office Max, Ace Hardware
Camelback Village Square	Phoenix-Mesa-Scottsdale, AZ		100.0	%		132,731	240,951	13.95	96.9	%	Fry’s Supermarket	Office Max
Desert Village Shopping Center	Phoenix-Mesa-Scottsdale, AZ		100.0	%		101,685	107,071	22.89	95.2	%	AJ Fine Foods	CVS
Fountain Plaza	Phoenix-Mesa-Scottsdale, AZ		100.0	%		113,536	305,588	9.52	89.9	%	Fry’s Supermarket	Dollar Tree, (Lowe's)
Laveen Village Marketplace	Phoenix-Mesa-Scottsdale, AZ		100.0	%		39,763	318,805	29.56	100.0	%	(Fry’s Supermarket)	(Home Depot)
Monte Vista Village Center	Phoenix-Mesa-Scottsdale, AZ		100.0	%		45,751	108,551	24.56	94.2	%	(Safeway)
Palmilla Center	Phoenix-Mesa-Scottsdale, AZ		100.0	%		103,568	178,219	18.83	100.0	%	(Fry’s Supermarket)	Office Max, PetSmart, Dollar Tree
Phoenix Office Building	Phoenix-Mesa-Scottsdale, AZ		100.0	%		21,122	21,122	N/A	92.8	%		Weingarten Realty Regional Office, Endurance Rehab
Pueblo Anozira Shopping Center	Phoenix-Mesa-Scottsdale, AZ		100.0	%		157,607	157,607	15.22	95.3	%	Fry’s Supermarket	Petco, Dollar Tree
Raintree Ranch Center	Phoenix-Mesa-Scottsdale, AZ		100.0	%		129,822	133,020	26.85	100.0	%	Whole Foods
Red Mountain Gateway	Phoenix-Mesa-Scottsdale, AZ		100.0	%		69,213	199,013	15.59	94.4	%		(Target), Bed Bath & Beyond, Famous Footwear
Scottsdale Horizon	Phoenix-Mesa-Scottsdale, AZ		100.0	%		155,093	155,093	18.85	100.0	%	Safeway	CVS
Scottsdale Waterfront	Phoenix-Mesa-Scottsdale, AZ		100.0	%		93,334	93,334	34.86	80.8	%		Olive & Ivy, P.F. Chang's, David's Bridal, Urban Outfitters
Squaw Peak Plaza	Phoenix-Mesa-Scottsdale, AZ		100.0	%		60,728	60,728	18.40	96.6	%	Sprouts Farmers Market
Summit at Scottsdale	Phoenix-Mesa-Scottsdale, AZ		51.0	%	(1)(3)	97,151	322,993	17.13	98.6	%	Safeway	(Target), CVS, OfficeMax, PetSmart
The Shoppes at Parkwood Ranch	Phoenix-Mesa-Scottsdale, AZ		100.0	%		92,626	106,738	12.83	95.4	%		Hobby Lobby, Dollar Tree
Entrada de Oro Plaza Shopping Center	Tucson, AZ		100.0	%		88,665	109,075	19.12	96.6	%	Walmart Neighborhood Market
Madera Village Shopping Center	Tucson, AZ		100.0	%		96,697	106,858	12.56	97.0	%	Safeway	Dollar Tree
Oracle Crossings	Tucson, AZ		100.0	%		251,194	261,194	18.62	96.0	%	Sprouts Farmers Market	Kohl's, HomeGoods
Oracle Wetmore Shopping Center	Tucson, AZ		100.0	%		150,150	343,278	25.33	92.2	%		(Home Depot), (Nordstrom Rack), Jo Ann Fabric, Cost Plus, PetSmart, Walgreens, Ulta Beauty
Shoppes at Bears Path	Tucson, AZ		100.0	%		43,928	66,131	16.52	80.5	%		(CVS Drug)
Arizona Total:	# of Properties:	21				2,127,121	3,482,748	18.91	95.0	%
Arkansas
Markham West Shopping Center	Little Rock-North Little Rock-Conway, AR		100.0	%		180,200	180,200	11.36	100.0	%		Academy, Office Depot, Michaels, Dollar Tree
Arkansas Total:	# of Properties:	1				180,200	180,200	11.36	100.0	%
California
8000 Sunset Strip Shopping Center	Los Angeles-Long Beach-Anaheim, CA		100.0	%		169,797	169,797	42.18	100.0	%	Trader Joe's	CVS, Crunch, AMC Theaters, CB2
Buena Vista Marketplace	Los Angeles-Long Beach-Anaheim, CA		100.0	%		91,846	91,846	24.95	99.1	%	Smart & Final Stores	Dollar Tree
Centerwood Plaza	Los Angeles-Long Beach-Anaheim, CA		100.0	%		75,486	75,486	15.27	100.0	%	Superior Grocers	Dollar Tree
The Westside Center	Los Angeles-Long Beach-Anaheim, CA		100.0	%		36,540	36,540	44.41	86.8	%		Guitar Center
Westminster Center	Los Angeles-Long Beach-Anaheim, CA		100.0	%		417,567	440,437	19.43	97.3	%	Albertsons	Home Depot, Ross Dress for Less, Petco, Rite Aid, Dollar Tree, 24 Hour Fitness
Marshall's Plaza	Modesto, CA		100.0	%		78,752	85,952	15.32	86.3	%		Marshalls, Dress Barn, Guitar Center




Center	CBSA		Owned %		Foot Notes	Owned GLA	Total GLA	Average Base Rent (ABR)	Occupancy %		Grocer Anchor	Other Anchors ( ) indicates owned by others
Chino Hills Marketplace	Riverside-San Bernardino-Ontario, CA		100.0	%		310,913	310,913	22.01	91.7	%	Smart & Final Stores	Dollar Tree, 24 Hour Fitness, Rite Aid
Jess Ranch Marketplace	Riverside-San Bernardino-Ontario, CA		100.0	%		208,656	307,826	19.73	100.0	%	(Winco Foods)	Burlington Coat Factory, PetSmart, Rite Aid, Big 5
Jess Ranch Marketplace Phase III	Riverside-San Bernardino-Ontario, CA		100.0	%		184,809	194,342	21.16	97.6	%	(Winco Foods)	Best Buy, Cinemark Theatres, Bed Bath & Beyond, 24 Hour Fitness
Menifee Town Center	Riverside-San Bernardino-Ontario, CA		100.0	%		124,431	258,734	17.72	100.0	%	Ralph's	Ross Dress for Less, Dollar Tree
Stoneridge Town Centre	Riverside-San Bernardino-Ontario, CA		67.0	%	(1)(3)	106,821	434,450	23.75	76.8	%	(Super Target)	(Kohl's)
Discovery Plaza	Sacramento--Roseville--Arden-Arcade, CA		100.0	%		89,548	93,398	17.78	93.9	%	Bel Air Market
Prospector's Plaza	Sacramento--Roseville--Arden-Arcade, CA		100.0	%		243,907	252,521	19.32	92.7	%	SaveMart	Kmart, CVS, Ross Dress for Less
Summerhill Plaza	Sacramento--Roseville--Arden-Arcade, CA		100.0	%		133,318	133,318	11.41	87.2	%	Raley’s	Dollar Tree
Valley Shopping Center	Sacramento--Roseville--Arden-Arcade, CA		100.0	%		103,791	107,191	20.74	82.1	%	Food 4 Less
El Camino Promenade	San Diego-Carlsbad, CA		100.0	%		129,676	129,676	28.19	98.0	%		T.J. Maxx, Staples, Dollar Tree, BevMo
Rancho San Marcos Village	San Diego-Carlsbad, CA		100.0	%		120,368	134,628	20.36	97.9	%	Vons	24 Hour Fitness
San Marcos Plaza	San Diego-Carlsbad, CA		100.0	%		35,880	81,086	34.11	90.5	%	(Albertsons)
580 Market Place	San Francisco-Oakland-Hayward, CA		100.0	%		100,097	100,097	30.96	97.3	%	Safeway	24 Hour Fitness, Petco
Gateway Plaza	San Francisco-Oakland-Hayward, CA		100.0	%		194,689	352,778	23.14	97.5	%	Raley’s	24 Hour Fitness
Greenhouse Marketplace	San Francisco-Oakland-Hayward, CA		100.0	%		147,095	236,864	22.78	98.0	%	(Safeway)	(CVS), Jo-Ann Fabrics, 99 Cents Only, Factory 2 U, Petco
Cambrian Park Plaza	San Jose-Sunnyvale-Santa Clara, CA		100.0	%		170,449	170,449	22.48	67.2	%		Beverages & More, Dollar Tree
Silver Creek Plaza	San Jose-Sunnyvale-Santa Clara, CA		100.0	%		132,925	202,820	39.11	89.2	%		Walgreens, (Orchard Supply)
Freedom Centre	Santa Cruz-Watsonville, CA		100.0	%		150,865	150,865	14.99	97.3	%	Safeway	Rite Aid, Big Lots
Stony Point Plaza	Santa Rosa, CA		100.0	%		194,569	200,011	14.90	100.0	%	Food Maxx	Ross Dress for Less, Fallas Paredes
Creekside Center	Vallejo-Fairfield, CA		100.0	%		115,991	115,991	21.55	92.1	%	Raley’s
Southampton Center	Vallejo-Fairfield, CA		100.0	%		162,026	162,026	20.39	97.6	%	Raley’s	Ace Hardware, Dollar Tree
California Total:	# of Properties:	27				4,030,812	5,030,042	22.32	93.8	%
Colorado
Aurora City Place	Denver-Aurora-Lakewood, CO		50.0	%	(1)(3)	180,478	542,956	16.98	82.2	%	(Super Target)	Barnes & Noble, Ross Dress For Less, PetSmart
Cherry Creek Retail Center	Denver-Aurora-Lakewood, CO		100.0	%		78,148	272,658	27.10	100.0	%	(Super Target)	PetSmart, Bed Bath & Beyond
CityCenter Englewood	Denver-Aurora-Lakewood, CO		100.0	%		217,255	307,255	16.55	78.8	%		(Walmart), Ross Dress for Less, Petco, Office Depot, 24 Hour Fitness
Crossing at Stonegate	Denver-Aurora-Lakewood, CO		100.0	%		109,079	109,079	17.66	100.0	%	King Sooper’s
Edgewater Marketplace	Denver-Aurora-Lakewood, CO		100.0	%		144,553	270,548	12.35	99.2	%	King Sooper's	Ace Hardware, (Target)
Green Valley Ranch - AutoZone	Denver-Aurora-Lakewood, CO		100.0	%	(4)	7,381	7,381		100.0	%	(King Sooper’s)
Green Valley Ranch Towne Center	Denver-Aurora-Lakewood, CO		50.0	%	(1)(3)	24,750	107,500	23.95	97.5	%	(King Sooper’s)
Lowry Town Center	Denver-Aurora-Lakewood, CO		100.0	%		76,697	129,397	27.73	98.0	%	(Safeway)
River Point at Sheridan	Denver-Aurora-Lakewood, CO		100.0	%		288,490	621,623	15.06	95.7	%		(Target), (Costco), Regal Cinema, Michaels, Conn's
Colorado Total:	# of Properties:	8				1,126,831	2,368,397	17.79	91.7	%
Florida
Argyle Village Shopping Center	Jacksonville, FL		100.0	%		306,461	306,461	11.36	96.1	%	Publix	Bed Bath & Beyond, T.J. Maxx, Babies “R” Us, Jo-Ann’s Fabrics, Michaels
Atlantic West	Jacksonville, FL		50.0	%	(1)(3)	42,284	180,578	12.45	100.0	%	(Walmart Supercenter)	T.J. Maxx, HomeGoods, Dollar Tree, Shoe Carnival, (Kohl's)




Center	CBSA		Owned %		Foot Notes	Owned GLA	Total GLA	Average Base Rent (ABR)	Occupancy %		Grocer Anchor	Other Anchors ( ) indicates owned by others
Epic Village St. Augustine	Jacksonville, FL		70.0	%	(1)	8,542	64,180	18.93	86.6	%		(Epic Theaters)
Kernan Village	Jacksonville, FL		50.0	%	(1)(3)	42,579	288,780	17.03	98.4	%	(Walmart Supercenter)	Ross Dress for Less, Petco
Boca Lyons Plaza	Miami-Fort Lauderdale-West Palm Beach, FL		100.0	%		117,423	117,423	23.26	95.7	%	4th Generation Market	Ross Dress for Less
Deerfield	Miami-Fort Lauderdale-West Palm Beach, FL		100.0	%		398,963	404,944	13.23	92.0	%	Publix	T.J. Maxx, Marshalls, Cinépolis, YouFit, Ulta
Embassy Lakes Shopping Center	Miami-Fort Lauderdale-West Palm Beach, FL		100.0	%		131,723	142,751	13.87	93.7	%	Winn Dixie	Tuesday Morning, Dollar Tree
Flamingo Pines	Miami-Fort Lauderdale-West Palm Beach, FL		20.0	%	(1)(3)	25,373	148,840	19.05	100.0	%	Publix
Flamingo Pines Plaza	Miami-Fort Lauderdale-West Palm Beach, FL		100.0	%		139,462	266,761	24.43	99.2	%	(Walmart Supercenter)	U.S. Post Office, Florida Technical College
Hollywood Hills Plaza	Miami-Fort Lauderdale-West Palm Beach, FL		20.0	%	(1)(3)	74,609	416,767	20.12	98.0	%	Publix	Target, CVS
Northridge	Miami-Fort Lauderdale-West Palm Beach, FL		20.0	%	(1)(3)	46,720	236,628	18.81	94.6	%	Publix	Petco, Ross Dress for Less, Dollar Tree
Pembroke Commons	Miami-Fort Lauderdale-West Palm Beach, FL		20.0	%	(1)(3)	60,684	323,679	15.51	100.0	%	Publix	Marshalls, Office Depot, LA Fitness, Dollar Tree
Sea Ranch Centre	Miami-Fort Lauderdale-West Palm Beach, FL		100.0	%		99,029	99,029	17.75	89.9	%	Publix	CVS, Dollar Tree
Tamiami Trail Shops	Miami-Fort Lauderdale-West Palm Beach, FL		20.0	%	(1)(3)	22,173	132,564	17.15	94.3	%	Publix	CVS
The Palms at Town & County	Miami-Fort Lauderdale-West Palm Beach, FL		100.0	%		657,661	657,661	22.81	94.6	%	Publix	Marshall's, 24 Hour Fitness, CVS, Toys R Us, Kohl's, Dick's Sporting Goods, Nordstrom Rack
TJ Maxx Plaza	Miami-Fort Lauderdale-West Palm Beach, FL		100.0	%		161,429	161,429	16.89	94.0	%	Winn Dixie	T.J. Maxx, Dollar Tree
Vizcaya Square Shopping Center	Miami-Fort Lauderdale-West Palm Beach, FL		100.0	%		110,081	110,081	16.94	100.0	%	Winn Dixie
Wellington Green Commons	Miami-Fort Lauderdale-West Palm Beach, FL		100.0	%		114,354	136,854	27.39	100.0	%	Whole Foods Market
Clermont Landing	Orlando-Kissimmee-Sanford, FL		75.0	%	(1)(3)	133,321	347,418	17.79	99.3	%		(J.C. Penney), (Epic Theater), T.J. Maxx, Ross Dress for Less, Michaels
Colonial Plaza	Orlando-Kissimmee-Sanford, FL		100.0	%		498,897	498,897	15.11	97.7	%		Staples, Ross Dress for Less, Marshalls, Old Navy, Stein Mart, Barnes & Noble, Petco, Big Lots, Hobby Lobby
Marketplace at Seminole Towne	Orlando-Kissimmee-Sanford, FL		100.0	%		315,038	496,951	16.60	99.0	%	(Super Target)	Marshalls, Ross Dress for Less, Old Navy, Petco
Phillips Crossing	Orlando-Kissimmee-Sanford, FL		100.0	%		145,644	145,644	28.94	100.0	%	Whole Foods	Golf Galaxy, Michaels
Shoppes of South Semoran	Orlando-Kissimmee-Sanford, FL		100.0	%		101,611	101,611	12.28	96.3	%	Walmart Neighborhood Market	Dollar Tree
The Marketplace at Dr. Phillips	Orlando-Kissimmee-Sanford, FL		20.0	%	(1)(3)	65,374	326,868	24.91	97.8	%	Publix	Stein Mart, HomeGoods, Morton's of Chicago, Office Depot
Winter Park Corners	Orlando-Kissimmee-Sanford, FL		100.0	%		102,488	102,488	26.98	58.8	%
Pineapple Commons	Port St. Lucie, FL		20.0	%	(1)(3)	51,019	269,451	16.46	98.9	%		Ross Dress for Less, Best Buy, PetSmart, Marshalls, (CVS)
Countryside Centre	Tampa-St. Petersburg-Clearwater, FL		100.0	%		245,958	245,958	15.31	100.0	%		T.J. Maxx, HomeGoods, Dick's Sporting Goods, Ross Dress for Less
East Lake Woodlands	Tampa-St. Petersburg-Clearwater, FL		20.0	%	(1)(3)	20,886	104,431	14.17	100.0	%	Walmart Neighborhood Market	Walgreens
Largo Mall	Tampa-St. Petersburg-Clearwater, FL		100.0	%		376,993	610,080	17.42	97.5	%	(Safeway)	Bealls, Marshalls, PetSmart, Bed Bath & Beyond, Staples, Michaels, (Target)
Sunset 19 Shopping Center	Tampa-St. Petersburg-Clearwater, FL		100.0	%		265,858	265,858	18.11	86.0	%		Bed Bath & Beyond, Barnes & Noble, Old Navy, Hobby Lobby, Cost Plus World Market
Whole Foods @ Carrollwood	Tampa-St. Petersburg-Clearwater, FL		100.0	%	(4)	36,900	36,900	N/A	100.0	%	Whole Foods Market
Florida Total:	# of Properties:	31				4,919,537	7,747,965	18.07	95.3	%
Georgia
Brookwood Marketplace	Atlanta-Sandy Springs-Roswell, GA		100.0	%		199,594	397,295	19.53	100.0	%	(Super Target)	Home Depot, Bed Bath & Beyond, Office Max
Brookwood Square Shopping Center	Atlanta-Sandy Springs-Roswell, GA		100.0	%		181,333	181,333	13.50	84.3	%		Marshalls, LA Fitness
Brownsville Commons	Atlanta-Sandy Springs-Roswell, GA		100.0	%		27,747	81,913	21.04	84.5	%	(Kroger)
Camp Creek Marketplace II	Atlanta-Sandy Springs-Roswell, GA		100.0	%		196,283	228,003	14.89	100.0	%		DSW, LA Fitness, Shopper's World, American Signature




Center	CBSA		Owned %		Foot Notes	Owned GLA	Total GLA	Average Base Rent (ABR)	Occupancy %		Grocer Anchor	Other Anchors ( ) indicates owned by others
Dallas Commons Shopping Center	Atlanta-Sandy Springs-Roswell, GA		100.0	%		25,158	95,262	26.50	91.6	%	(Kroger)
Grayson Commons	Atlanta-Sandy Springs-Roswell, GA		100.0	%		76,611	76,611	15.11	98.0	%	Kroger
Lakeside Marketplace	Atlanta-Sandy Springs-Roswell, GA		100.0	%		137,693	332,889	16.62	94.7	%	(Super Target)	Ross Dress for Less, Petco
Mansell Crossing	Atlanta-Sandy Springs-Roswell, GA		20.0	%	(1)(3)	20,586	102,931	14.76	100.0	%		buybuy BABY, Ross Dress for Less, Party City
Perimeter Village	Atlanta-Sandy Springs-Roswell, GA		100.0	%		381,738	381,738	20.99	99.2	%	Walmart Supercenter	Cost Plus World Market, DSW, Hobby Lobby
Publix at Princeton Lakes	Atlanta-Sandy Springs-Roswell, GA		20.0	%	(1)(3)	13,681	72,207	17.83	100.0	%	Publix
Reynolds Crossing	Atlanta-Sandy Springs-Roswell, GA		100.0	%		45,758	115,983	26.58	87.4	%	(Kroger)
Roswell Corners	Atlanta-Sandy Springs-Roswell, GA		100.0	%		136,496	318,261	19.92	100.0	%	(Super Target), Fresh Market	T.J. Maxx
Roswell Crossing Shopping Center	Atlanta-Sandy Springs-Roswell, GA		100.0	%		201,759	201,759	15.78	98.4	%	Trader Joe's	Office Max, PetSmart, Walgreens
Thompson Bridge Commons	Gainesville, GA		100.0	%	(4)	3,000	95,587	N/A	100.0	%	(Kroger)
Georgia Total:	# of Properties:	14				1,647,437	2,681,772	17.49	96.6	%
Kentucky
Millpond Center	Lexington-Fayette, KY		100.0	%		124,498	151,498	10.84	93.8	%	Kroger
Regency Centre	Lexington-Fayette, KY		100.0	%		142,738	188,782	14.58	95.7	%	(Kroger)	T.J. Maxx, Michaels
Tates Creek Centre	Lexington-Fayette, KY		100.0	%		195,828	200,988	14.38	98.4	%	Kroger	Rite Aid
Festival on Jefferson Court	Louisville/Jefferson County, KY-IN		100.0	%		168,697	218,107	13.32	94.6	%	Kroger	(PetSmart), (T.J. Maxx), Staples, Party City
Kentucky Total:	# of Properties:	4				631,761	759,375	13.50	95.9	%
Louisiana
Danville Plaza Shopping Center	Monroe, LA		100.0	%		136,108	136,108	5.94	85.4	%	County Market	Citi Trends, Surplus Warehouse
Louisiana Total:	# of Properties:	1				136,108	136,108	5.94	85.4	%
Maryland
Nottingham Commons	Baltimore-Columbia-Towson, MD		100.0	%		131,257	131,257	27.67	100.0	%	MOM's Organic Market	T.J. Maxx, DSW, Petco
Pike Center	Washington-Arlington-Alexandria, DC-VA-MD-WV		100.0	%		80,841	80,841	60.55	100.0	%		Pier 1, DXL Mens Apparel
Maryland Total:	# of Properties:	2				212,098	212,098	40.45	100.0	%
Nevada
Best in the West	Las Vegas-Henderson-Paradise, NV		100.0	%		428,066	428,066	17.06	95.3	%		Best Buy, T. J. Maxx, Babies "R" Us, Bed Bath & Beyond, Petsmart, Office Depot
Charleston Commons Shopping Center	Las Vegas-Henderson-Paradise, NV		100.0	%		332,298	366,952	18.19	98.8	%	Walmart	Ross Dress for Less, Office Max, 99 Cents Only, PetSmart
College Park Shopping Center	Las Vegas-Henderson-Paradise, NV		100.0	%		167,654	195,367	12.98	94.6	%	El Super	Factory 2 U, CVS
Decatur 215	Las Vegas-Henderson-Paradise, NV		100.0	%		118,678	345,720	16.42	100.0	%	(WinCo Foods)	(Target), Hobby Lobby, Ross Dress for Less
Eastern Commons	Las Vegas-Henderson-Paradise, NV		100.0	%		65,817	356,673	23.16	93.8	%	Trader Joe's
Francisco Center	Las Vegas-Henderson-Paradise, NV		100.0	%		116,973	148,815	12.34	85.1	%	La Bonita Grocery	(Ross Dress for Less)
Paradise Marketplace	Las Vegas-Henderson-Paradise, NV		100.0	%		78,077	152,672	19.62	89.1	%	(Smith’s Food)	Dollar Tree
Rancho Towne & Country	Las Vegas-Henderson-Paradise, NV		100.0	%		84,711	161,837	13.40	100.0	%	Smith’s Food
Tropicana Beltway Center	Las Vegas-Henderson-Paradise, NV		100.0	%		246,483	617,821	18.38	100.0	%	(Walmart Supercenter)	(Lowe’s), Ross Dress for Less, PetSmart, Office Depot, 99 Cents Only




Center	CBSA		Owned %		Foot Notes	Owned GLA	Total GLA	Average Base Rent (ABR)	Occupancy %		Grocer Anchor	Other Anchors ( ) indicates owned by others
Tropicana Marketplace	Las Vegas-Henderson-Paradise, NV		100.0	%		69,429	144,571	21.23	88.0	%	(Smith’s Food)	Family Dollar
Westland Fair	Las Vegas-Henderson-Paradise, NV		100.0	%		211,755	598,213	17.89	96.3	%	(Walmart Supercenter)	(Lowe’s), PetSmart, Office Depot, Michaels, Smart & Final
Nevada Total:	# of Properties:	11				1,919,941	3,516,707	17.11	95.9	%
New Mexico
North Towne Plaza	Albuquerque, NM		100.0	%		112,666	139,996	22.86	99.0	%	Whole Foods Market	HomeGoods
New Mexico Total:	# of Properties:	1				112,666	139,996	22.86	99.0	%
North Carolina
Galleria Shopping Center	Charlotte-Concord-Gastonia, NC-SC		100.0	%		117,102	324,704	16.99	93.0	%	(Walmart Supercenter)	Off Broadway Shoes
Whitehall Commons	Charlotte-Concord-Gastonia, NC-SC		100.0	%		42,183	444,803	27.52	100.0	%	(Walmart Supercenter), (Publix)	(Lowe's)
Bull City Market	Durham-Chapel Hill, NC		100.0	%		40,875	40,875	19.33	96.2	%	Whole Foods Market
Hope Valley Commons	Durham-Chapel Hill, NC		100.0	%		81,371	81,371	27.31	96.7	%	Harris Teeter
Avent Ferry Shopping Center	Raleigh, NC		100.0	%		119,652	119,652	17.99	93.3	%	Food Lion	Family Dollar
Capital Square	Raleigh, NC		100.0	%		143,063	143,063	7.47	98.8	%	Food Lion
Crabtree Towne Center	Raleigh, NC		100.0	%	(4)	8,800	8,800	N/A	100.0	%		J. Alexander's
Falls Pointe Shopping Center	Raleigh, NC		100.0	%		112,199	198,549	18.35	95.6	%	Harris Teeter	(Kohl’s)
High House Crossing	Raleigh, NC		100.0	%		90,155	90,155	15.44	100.0	%	Harris Teeter
Leesville Towne Centre	Raleigh, NC		100.0	%		127,106	127,106	19.11	98.5	%	Harris Teeter	Rite Aid
Northwoods Shopping Center	Raleigh, NC		100.0	%		77,803	77,803	12.13	96.2	%	Walmart Neighborhood Market	Dollar Tree
Six Forks Shopping Center	Raleigh, NC		100.0	%		467,914	467,914	11.09	95.9	%	Food Lion	Kmart, Home Depot, Bed Bath & Beyond, PetSmart
Stonehenge Market	Raleigh, NC		100.0	%		188,437	188,437	14.25	94.7	%	Harris Teeter	Stein Mart, Rite Aid
Wake Forest Crossing II	Raleigh, NC		100.0	%		—	281,462	N/A	N/A		(Lowes Foods)	(Kohl's), (T.J. Maxx), (Michaels), (Ross Dress for Less), (Petco)
Surf City Crossing	Wilmington, NC		100.0	%		63,016	63,016	21.36	91.2	%	Harris Teeter
Waterford Village	Wilmington, NC		100.0	%		98,858	98,858	21.47	87.3	%	Harris Teeter
North Carolina Total:	# of Properties:	16				1,778,534	2,756,568	15.28	95.5	%
Oregon
Clackamas Square	Portland-Vancouver-Hillsboro, OR-WA		20.0	%	(1)(3)	14,790	140,227	18.62	94.3	%	(Winco Foods)	T.J. Maxx
Oak Grove Market Center	Portland-Vancouver-Hillsboro, OR-WA		100.0	%		97,177	97,177	24.38	41.1	%
Raleigh Hills Plaza	Portland-Vancouver-Hillsboro, OR-WA		20.0	%	(1)(3)	7,904	39,520	26.09	100.0	%	New Seasons Market	Walgreens
Oregon Total:	# of Properties:	3				119,871	276,924	23.36	51.5	%
Tennessee
Bartlett Towne Center	Memphis, TN-MS-AR		100.0	%		192,624	192,624	12.03	93.0	%	Kroger	Petco, Dollar Tree, Shoe Carnival
Highland Square	Memphis, TN-MS-AR		100.0	%	(4)	14,490	14,490	N/A	100.0	%		Walgreens
Mendenhall Commons	Memphis, TN-MS-AR		100.0	%		88,108	88,108	11.59	98.7	%	Kroger
Ridgeway Trace	Memphis, TN-MS-AR		100.0	%		176,484	314,224	24.77	74.2	%		(Target), Best Buy, PetSmart




Center	CBSA		Owned %		Foot Notes	Owned GLA	Total GLA	Average Base Rent (ABR)	Occupancy %		Grocer Anchor	Other Anchors ( ) indicates owned by others
The Commons at Dexter Lake	Memphis, TN-MS-AR		100.0	%		166,958	178,558	9.47	98.3	%	Kroger	Stein Mart, Marshalls, HomeGoods
The Commons at Dexter Lake II	Memphis, TN-MS-AR		100.0	%		61,838	66,838	14.93	97.4	%	Kroger	Stein Mart, Marshalls, HomeGoods
Tennessee Total:	# of Properties:	5				700,502	854,842	14.15	90.8	%
Texas
Mueller Regional Retail Center	Austin-Round Rock, TX		100.0	%		351,099	351,099	16.58	98.8	%		Marshalls, PetSmart, Bed Bath & Beyond, Home Depot, Best Buy
North Park Plaza	Beaumont-Port Arthur, TX		50.0	%	(1)(3)	69,963	281,255	17.99	90.3	%		(Target), (Toys “R” Us), Spec's, Kirkland's
North Towne Plaza	Brownsville-Harlingen, TX		100.0	%		36,000	153,000	17.26	22.2	%		(Lowe's)
Rock Prairie Marketplace	College Station-Bryan, TX		100.0	%	(4)	4,683	4,683	N/A	100.0	%
Moore Plaza	Corpus Christi, TX		100.0	%		371,443	599,415	15.97	99.5	%	(H-E-B)	Office Depot, Marshalls, (Target), Old Navy, Hobby Lobby, Stein Mart
Horne Street Market	Dallas-Fort Worth-Arlington, TX		100.0	%		9,815	52,082	30.77	88.9	%		(24 Hour Fitness)
Overton Park Plaza	Dallas-Fort Worth-Arlington, TX		100.0	%		353,431	463,431	16.26	100.0	%	Sprouts Farmers Market	PetSmart, T.J. Maxx, (Home Depot), Goody Goody Wines, buybuy BABY
Preston Shepard Place	Dallas-Fort Worth-Arlington, TX		20.0	%	(1)(3)	72,667	363,337	19.09	78.1	%		Stein Mart, Nordstrom, Marshalls, Office Depot, Petco
10-Federal Shopping Center	Houston-The Woodlands-Sugar Land, TX		15.0	%	(1)	19,871	132,472	9.04	100.0	%	Sellers Bros.	Palais Royal, Harbor Freight Tools
1919 North Loop West	Houston-The Woodlands-Sugar Land, TX		100.0	%		138,028	138,028	N/A	75.5	%		State of Texas
Alabama Shepherd Shopping Center	Houston-The Woodlands-Sugar Land, TX		100.0	%		59,120	59,120	21.85	100.0	%	Trader Joe's	PetSmart
Baybrook Gateway	Houston-The Woodlands-Sugar Land, TX		100.0	%		244,037	244,037	18.43	83.3	%		Ashley Furniture, Cost Plus World Market, Barnes & Noble, Michaels
Bellaire Blvd. Shopping Center	Houston-The Woodlands-Sugar Land, TX		100.0	%		37,699	43,891	33.00	100.0	%	Randall’s
Blalock Market at I-10	Houston-The Woodlands-Sugar Land, TX		100.0	%		97,277	97,277	16.82	100.0	%	99 Ranch Market
Braeswood Square Shopping Center	Houston-The Woodlands-Sugar Land, TX		100.0	%		101,178	101,178	13.88	93.5	%	Belden’s	Walgreens
Citadel Building	Houston-The Woodlands-Sugar Land, TX		100.0	%		121,000	121,000	N/A	100.0	%		Weingarten Realty Investors Corporate Office
Cullen Plaza Shopping Center	Houston-The Woodlands-Sugar Land, TX		15.0	%	(1)	12,678	84,517	11.04	100.0	%	Fiesta	Family Dollar
Cypress Pointe	Houston-The Woodlands-Sugar Land, TX		100.0	%		186,721	283,381	10.28	98.2	%	Kroger	Babies “R” Us
Galveston Place	Houston-The Woodlands-Sugar Land, TX		100.0	%		210,370	210,370	11.68	99.3	%	Randall’s	Office Depot, Palais Royal, Spec's
Griggs Road Shopping Center	Houston-The Woodlands-Sugar Land, TX		15.0	%	(1)	12,014	80,091	10.11	84.4	%		Family Dollar, Citi Trends
Harrisburg Plaza	Houston-The Woodlands-Sugar Land, TX		15.0	%	(1)	14,016	93,438	20.89	96.4	%		dd's Discount
HEB - Dairy Ashford & Memorial	Houston-The Woodlands-Sugar Land, TX		100.0	%	(4)	36,874	36,874	N/A	100.0	%	H-E-B
Heights Plaza Shopping Center	Houston-The Woodlands-Sugar Land, TX		100.0	%		71,277	71,277	9.66	99.4	%	Kroger	Goodwill
I45/Telephone Rd.	Houston-The Woodlands-Sugar Land, TX		15.0	%	(1)	25,740	171,599	12.69	99.4	%	Sellers Bros.	Famsa, Fallas Paredes, Harbor Freight Tools
League City Plaza	Houston-The Woodlands-Sugar Land, TX		15.0	%	(1)	19,452	129,681	13.18	88.8	%		Spec’s
Market at Town Center - Sugarland	Houston-The Woodlands-Sugar Land, TX		100.0	%		388,819	388,819	21.37	98.7	%		Old Navy, HomeGoods, Marshalls, Ross Dress for Less, Nordstrom Rack, Saks Fifth Avenue OFF 5TH
Market at Westchase Shopping Center	Houston-The Woodlands-Sugar Land, TX		100.0	%		84,084	84,084	23.67	62.7	%
Northbrook Shopping Center	Houston-The Woodlands-Sugar Land, TX		100.0	%		174,181	174,181	16.06	91.6	%	Randall’s	Office Depot, Citi Trends, Dollar Tree
Oak Forest Shopping Center	Houston-The Woodlands-Sugar Land, TX		100.0	%		154,256	154,256	17.84	100.0	%	Kroger	Ross Dress for Less, Dollar Tree, Petsmart




Center	CBSA	Owned %		Foot Notes	Owned GLA	Total GLA	Average Base Rent (ABR)	Occupancy %		Grocer Anchor	Other Anchors ( ) indicates owned by others
Randalls Center/Kings Crossing	Houston-The Woodlands-Sugar Land, TX	100.0	%		126,397	126,397	17.94	99.5	%	Randall’s	CVS
Richmond Square	Houston-The Woodlands-Sugar Land, TX	100.0	%		92,657	92,657	27.77	100.0	%		Best Buy, Cost Plus
River Oaks Shopping Center - East	Houston-The Woodlands-Sugar Land, TX	100.0	%		71,265	71,265	13.22	100.0	%	Kroger
River Oaks Shopping Center - West	Houston-The Woodlands-Sugar Land, TX	100.0	%		247,673	247,673	38.81	90.1	%	Kroger	Barnes & Noble, Talbots, Ann Taylor, GAP, JoS. A. Bank
Shoppes at Memorial Villages	Houston-The Woodlands-Sugar Land, TX	100.0	%		185,974	185,974	12.19	85.1	%		Rexel
Shops at Kirby Drive	Houston-The Woodlands-Sugar Land, TX	100.0	%		10,000	55,460	34.64	100.0	%		(Toys R Us), Freebirds Burrito
Shops at Three Corners	Houston-The Woodlands-Sugar Land, TX	70.0	%	(1)	172,873	277,603	14.82	99.4	%	Fiesta	Ross Dress for Less, PetSmart, Office Depot, Big Lots
Southgate Shopping Center	Houston-The Woodlands-Sugar Land, TX	15.0	%	(1)	18,668	124,454	11.25	93.4	%	Food-A-Rama	CVS, Family Dollar, Palais Royal
Stella Link Shopping Center	Houston-The Woodlands-Sugar Land, TX	100.0	%		22,355	22,355	9.98	100.0	%		Spec’s
The Centre at Post Oak	Houston-The Woodlands-Sugar Land, TX	100.0	%		183,940	183,940	35.23	100.0	%		Marshalls, Old Navy, Grand Lux Café, Nordstrom Rack, Arhaus
Tomball Marketplace	Houston-The Woodlands-Sugar Land, TX	100.0	%		153,999	311,820	18.91	95.0	%		(Academy), (Kohl's), Ross Dress For Less, Marshalls
Village Plaza at Bunker Hill	Houston-The Woodlands-Sugar Land, TX	57.8	%	(1)(3)	283,341	490,634	24.61	100.0	%	H-E-B	PetSmart, Babies "R" Us, Academy, Nordstrom Rack
West Gray	Houston-The Woodlands-Sugar Land, TX	100.0	%		37,264	37,264	26.12	67.6	%		Pier 1
Westchase Shopping Center	Houston-The Woodlands-Sugar Land, TX	100.0	%		221,671	350,390	17.38	100.0	%	Whole Foods Market	(Target), Ross Dress for Less, Palais Royal, Petco
Westhill Village Shopping Center	Houston-The Woodlands-Sugar Land, TX	100.0	%		130,851	130,851	18.28	96.9	%		Ross Dress for Less, Office Depot, 99 Cents Only
Independence Plaza	Laredo, TX	100.0	%		347,302	347,302	13.96	100.0	%	H-E-B	T.J. Maxx, Ross Dress for Less, Hobby Lobby, Petco, Ulta Beauty
North Creek Plaza	Laredo, TX	100.0	%		243,596	485,463	15.42	96.8	%	(H-E-B)	(Target), Marshalls, Old Navy, Best Buy, Bed Bath & Beyond
Plantation Centre	Laredo, TX	100.0	%		135,373	143,015	16.85	96.6	%	H-E-B
Las Tiendas Plaza	McAllen-Edinburg-Mission, TX	50.0	%	(1)(3)	143,976	500,084	11.09	98.9	%		(Target), Dick's Sporting Goods, Conn's, Ross Dress for Less, Marshalls, Office Depot
Market at Nolana	McAllen-Edinburg-Mission, TX	50.0	%	(1)(3)	20,342	244,602	22.09	73.2	%	(Walmart Supercenter)
Market at Sharyland Place	McAllen-Edinburg-Mission, TX	50.0	%	(1)(3)	53,956	301,174	19.90	94.0	%	(Walmart Supercenter)	Kohl's, Dollar Tree
North Sharyland Crossing	McAllen-Edinburg-Mission, TX	50.0	%	(1)(3)(4)	—	—	N/A	N/A
Northcross	McAllen-Edinburg-Mission, TX	50.0	%	(1)(3)	37,644	75,288	18.42	90.9	%		Barnes & Noble
Old Navy Building	McAllen-Edinburg-Mission, TX	50.0	%	(1)(3)(4)	7,500	15,000	N/A	100.0	%		Old Navy
Sharyland Towne Crossing	McAllen-Edinburg-Mission, TX	50.0	%	(1)(3)	180,220	492,349	15.22	94.2	%	H-E-B	(Target), T.J. Maxx, Petco, Office Depot, Ross Dress for Less
South 10th St. HEB	McAllen-Edinburg-Mission, TX	50.0	%	(1)(3)	51,851	103,702	13.64	100.0	%	H-E-B
Trenton Crossing	McAllen-Edinburg-Mission, TX	100.0	%		264,720	569,881	12.92	86.7	%		(Target), Hobby Lobby, Ross Dress for Less, Marshalls, Petsmart
Starr Plaza	Rio Grande City, TX	50.0	%	(1)(3)	88,346	176,693	14.33	98.0	%	H-E-B	Bealls
Fiesta Trails	San Antonio-New Braunfels, TX	100.0	%		405,370	485,370	16.72	85.9	%	(H-E-B)	Act III Theatres, Marshalls, Office Max, Stein Mart, Petco
Parliament Square II	San Antonio-New Braunfels, TX	100.0	%	(4)	54,541	54,541	N/A	100.0	%		Incredible Pizza
Thousand Oaks Shopping Center	San Antonio-New Braunfels, TX	15.0	%	(1)	24,271	161,806	11.67	95.6	%	H-E-B	Bealls, Tuesday Morning




Center	CBSA		Owned %		Foot Notes	Owned GLA	Total GLA	Average Base Rent (ABR)	Occupancy %		Grocer Anchor	Other Anchors ( ) indicates owned by others
Valley View Shopping Center	San Antonio-New Braunfels, TX		100.0	%		91,446	91,446	10.38	83.2	%		Marshalls, Dollar Tree
Texas Total:	# of Properties:	61				7,587,175	12,124,326	17.52	94.4	%
Utah
West Jordan Town Center	Salt Lake City, UT		100.0	%		182,099	304,899	12.47	71.2	%		(Target), Petco
Utah Total:	# of Properties:	1				182,099	304,899	12.47	71.2	%
Virginia
Hilltop Village Center	Washington-Arlington-Alexandria, DC-VA-MD-WV		100.0	%	(5)	250,811	250,811	33.81	100.0	%	Wegmans	L.A. Fitness
Virginia Total:	# of Properties:	1	100.0	%		250,811	250,811	33.81	100.0	%
Washington
2200 Westlake	Seattle-Tacoma-Bellevue, WA		69.4	%	(1)(3)	60,366	87,014	35.26	97.9	%	Whole Foods
Meridian Town Center	Seattle-Tacoma-Bellevue, WA		20.0	%	(1)(3)	15,533	143,237	17.33	97.2	%	(Safeway)	Jo-Ann Fabric & Craft Store, Tuesday Morning
Queen Anne Marketplace	Seattle-Tacoma-Bellevue, WA		51.0	%	(1)(3)	41,506	81,385	30.83	99.4	%	Metropolitan Market	Bartell's Drug
Rainer Square Plaza	Seattle-Tacoma-Bellevue, WA		20.0	%	(1)(3)	22,347	111,736	19.40	98.1	%	Safeway	Ross Dress for Less
South Hill Center	Seattle-Tacoma-Bellevue, WA		20.0	%	(1)(3)	26,802	134,010	16.49	100.0	%		Bed Bath & Beyond, Ross Dress for Less, Best Buy
Washington Total:	# of Properties:	5				166,554	557,382	27.41	98.6	%
Total Operating Properties	# of Properties:	213				27,830,058	43,381,160	18.37	94.5	%
New Development
Virginia
Columbia Pike Village Center	Washington-Arlington-Alexandria, DC-VA-MD-WV		90.0	%	(1)(2)(3)	—	—				Harris Teeter
Gateway Alexandria	Washington-Arlington-Alexandria, DC-VA-MD-WV		100.0	%	(2)	—	—				Harris Teeter
Virginia Total:	# of Properties:	2				—	—
Washington
The Whittaker	Seattle-Tacoma-Bellevue, WA		100.0	%	(2)	—	—
Washington Total:	# of Properties:	1				—	—

Total New Developments	# of Properties:	3				—	—
Operating & New Development Properties	# of Properties:	216				27,830,058	43,381,160
Unimproved Land
Arizona
Lon Adams Rd. at Tangerine Farms Rd., Marana							422,532
Arizona Total:							422,532




Center	CBSA	Owned %	Foot Notes	Owned GLA	Total GLA	Average Base Rent (ABR)	Occupancy %	Grocer Anchor	Other Anchors ( ) indicates owned by others
Colorado
Highway 85 and Highway 285, Sheridan					377,491
Colorado Total:					377,491
Florida
State Road 100 & Belle Terre Parkway, Palm Coast					292,288
SR 207 at Rolling Hills Dr., St. Augustine					228,254
Florida Total:					520,542
Georgia
NWC South Fulton Pkwy. @ Hwy. 92, Union City					3,554,496
Georgia Total:					3,554,496
North Carolina
U.S. Hwy. 17 & U.S. Hwy. 74/76, Leland					362,419
Highway 17 and Highway 210, Surf City					2,024,233
U.S. Highway 1 at Caveness Farms Rd., Wake Forest					992,123
North Carolina Total:					3,378,775
Texas
U.S. 77 and 83 at SHFM 802, Brownsville					914,723
Rock Prairie Rd. at Hwy. 6, College Station					229,561
Leslie Rd. at Bandera Rd., Helotes					74,052
Bissonnet at Wilcrest, Houston					40,946
East Orem, Houston					121,968
Northwest Freeway at Gessner, Houston					43,396
West Little York at Interstate 45, Houston					161,172
Nolana Ave. and 29th St., McAllen					163,350
Shary Rd. at North Hwy. 83, Mission					172,498
9th Ave. at 25th St., Port Arthur					243,065
Gattis School Rd. at A.W. Grimes Blvd., Round Rock					57,499
Culebra Road and Westwood Loop, San Antonio					60,984
FM 1957 (Potranco Road) and FM 211, San Antonio					5,635,183
SH 151 and Ingram Rd., San Antonio					252,692
US Hwy. 281 at Wilderness Oaks, San Antonio					1,269,774
Highway 3 at Highway 1765, Texas City					200,812
FM 2920 and Highway 249, Tomball					459,776
Texas Total:					10,101,451
Total Unimproved Land					18,355,287



Texas	1-9876	74-1464203
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)



o	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))



	WEINGARTEN REALTY INVESTORS


	By:	/s/ Joe D. Shafer
		Joe D. Shafer
		Senior Vice President/ Chief Accounting Officer



	Q2 2017	YTD 2017
Occupancy (Signed Basis):
Occupancy - Total	94.5%
Occupancy - Small Shop Spaces	90.7%
Occupancy - Same Property Portfolio	95.4%

Same Property Net Operating Income, with redevelopments	2.6%	3.0%

Rental Rate Growth - Total:	13.4%	10.9%
New Leases	43.4%	22.4%
Renewals	7.7%	9.0%

Leasing Transactions:
Number of New Leases	82	171
New Leases - Annualized Revenue (in millions)	$7.2	$12.3
Number of Renewals	182	396
Renewals - Annualized Revenue (in millions)	$13.3	$36.1



	Previous Guidance	Revised Guidance
Net Income (per share)	$0.94 - $1.00	$2.22 - $2.28
NAREIT FFO (per share)	$2.33 - $2.39	$2.34 - $2.40
Core FFO (per share)	$2.37 - $2.43	$2.38 - $2.44
Acquisitions	$125 - $225 million	$50 - $150 million
Re / New Development	$135 - $235 million	$125 - $175 million
Dispositions	$125 - $225 million	$200 - $400 million
Same Property NOI with redevelopments	2.5% - 3.5%	2.5% - 3.5%
Same Property NOI w/o redevelopments	2.0% - 3.0%	2.0% - 3.0%


99.1	Supplemental Financial Information at June 30, 2017 (including press release dated July 27, 2017).


•	Core Funds From Operations Attributable to Common Shareholders ("Core FFO") for the quarter increased to $0.61 per share from $0.57 per share a year ago;


•	Guidance was raised for Net Income, Funds From Operations Attributable to Common Shareholders in accordance with the National Association of Real Estate Investment Trusts definition (“NAREIT FFO”), and Core FFO;


•	Same Property Net Operating Income (“SPNOI”) including redevelopments increased 2.6% over the same quarter of the prior year;


•	Rental rates on new leases and renewals for the quarter were up 43.4% and 7.7%, respectively; and


•	Dispositions totaled $56.4 million for the quarter and $103.8 million through June 30, 2017.



	Three Months Ended June 30, 2017		Six Months Ended June 30, 2017
Beginning of the period	201		193
Properties added:
Acquisitions	—		4
New Developments	—		1
Redevelopments	—		6
Properties removed:
Dispositions	(4	)	(7	)
End of the period	197		197


(1)	Revenue adjustments consist primarily of straight-line rentals, lease cancellation income and fee income primarily from real estate joint ventures and partnerships.


(2)	Other includes items such as environmental abatement costs, demolition expenses and lease termination fees.



Corporate Office

2600 Citadel Plaza Drive
P. O. Box 924133
Houston, TX 77292-4133
713-866-6000
www.weingarten.com

Stock Listings

New York Stock Exchange:
Common Shares	WRI



Significant Covenant Ratios
	Restrictions
Debt to Asset Ratio (Public)	Less than 60.0%	43.4	%	44.3	%
Secured Debt to Asset Ratio (Public)	Less than 40.0%	8.0	%	8.3	%
Unencumbered Asset Test (Public)	Greater than 150%	245.6	%	241.0	%
Fixed Charge Coverage (Revolver) (Pro rata EBITDA/ (interest expense + scheduled principal payments))	Greater than 1.5x	3.8x		3.8x



Net Debt to Adjusted EBITDA
EBITDA (Current Quarter)	$	132,570		$	134,097
Gain on Sale of Real Estate	(34,174		)	(34,869		)
Ground Rent	254			251
Other Non-Recurring Items	26			55
Adjusted EBITDA	$	98,676		$	99,534

Net Debt (less cash & equivalents)	$	2,284,817		$	2,340,271
Net Debt to Adjusted EBITDA (annualized)	5.79x			5.88x



Credit Ratings
	S&P	Moody's
Senior Debt	BBB	Baa1
Outlook	Stable	Stable



	YTD Completed	3Q'17E	4Q'17E	1Q'18E	2Q'18E	3Q'18E	Remaining Balance
Completion ($)	—	—	$21,400 - $24,400	$0 - $2,500	$1,200 - $6,200	$0 - $3,400	$282,500 - $287,500
Weighted Return (%)	—	—	6.7% - 7.2%	0.0%	6.7% - 7.2%	6.7% - 7.2%	5.6% - 6.1%
Net Operating Income (Annualized)	—	—	$1,420 - $1,750	$0 - $10	$0 - $500	$0 - $300	$15,900 - $17,700


(a)	See Page 23 for the Company’s pro rata share of the operating results of its unconsolidated real estate joint ventures and partnerships.


(a)	This represents the Company’s investment of its unconsolidated real estate joint ventures and partnerships. See page 23 for additional information.



	June 30, 2017			December 31, 2016

Common Share Data
Closing Market Price	$	30.10		$	35.79

Capitalization
Debt	$	2,291,474		$	2,356,528
Common Shares at Market	3,865,382			4,583,697
Operating Partnership Units at Market	43,103			52,325
Total Market Capitalization (As reported)	$	6,199,959		$	6,992,550
Debt to Total Market Capitalization (As reported)	37.0		%	33.7		%
Debt to Total Market Capitalization (As reported at a constant share price of $35.79)	33.0		%	33.7		%
Debt to Total Market Capitalization (Pro rata)	37.7		%	34.4		%

Capital Availability
Revolving Credit Facility	$	500,000		$	500,000
Less:
Balance Outstanding Under Revolving Credit Facility	200,000			245,000
Outstanding Letters of Credit Under Revolving Facility	5,614			4,860
Unused Portion of Credit Facility	$	294,386		$	250,140




	Three Months Ended June 30, 2017		Six Months Ended June 30, 2017		Twelve Months Ended December 31, 2016
New Development	$	30,904	$	61,260	$	67,722
Redevelopment	8,081		14,652		32,185
Building and Site Improvements	7,906		13,230		20,474
Tenant Finish	5,148		12,843		24,989
External Leasing Commissions	957		1,959		5,429
Acquisitions	—		600		514,756
Capital Expenditures	$	52,996	$	104,544	$	665,555

Note:
Internal Leasing Fees are approximately $5.2 million for the six months ended June 30, 2017 and $8.7 million for the twelve months ended December 31, 2016, respectively.



New Development

			Net SF/Units		Total		Cost		Cost		Completed				Est./Act.
			by Product	Percent	Estimated		Incurred-		Incurred -		Inception-		Est. Final		Stabilized	Key Tenants /
	Center	MSA	Type	Leased	Investment		Year-To-Date		To-Date		To-Date		ROI% (1)		Quarter	Description
	Active Developments
1	The Whittaker	Seattle, WA	Retail = 63 SF	83.4%	$	30,538	$	24,942	$	25,181	$	—			Q2 18
2	Gateway Alexandria	Alexandria, VA	Retail = 100 SF	16.4%	182,167		8,437		54,630		—				2H 21	Harris Teeter
			Office = 23 SF
			MF = 282 Units
3	Columbia Pike (2)	Arlington, VA	Retail = 65 SF	14.2%	134,512		27,881		28,767		—				2H 20	Harris Teeter
			MF = 367 Units
	Total Active Developments			20.6%	$	347,217	$	61,260	$	108,578	$	—	5.7	%


(1)	Weighted average interest rates exclude the effects of ASC 805 "Business Combinations", revolver facility fee, and other loan costs related to financing.


(2)	Term Loan has a floating rate of LIBOR + 97.5 bps and has been swapped to a fixed rate of 2.47%. The weighted average interest rate reflects the fixed rate.


(3)	Weighted average revolving interest rate excludes the effect of the facility fee of 15 basis points on the total commitment paid quarterly in arrears. The weighted average revolving interest rate with the facility fee was 2.29% and 1.88% in the second quarter 2017 and the fourth quarter 2016, respectively.


(4)	Debt service guarantee liability represents bonds issued in association with a guarantee in connection with a project in Denver, Colorado.



	As Reported
	Maturities		Weighted Average Rate (2)
2017	$	40,401	5.41%
2018	80,427		5.45%
2019	56,245		5.14%
2020	237,779		2.91%	(3	)
2021	17,667		4.04%
2022	307,614		3.40%
2023	305,694		3.51%
2024	255,954		4.44%
2025	303,302		3.93%
2026	277,291		3.55%
Thereafter	131,310		4.85%
Subtotal	2,013,684

Revolving Credit Agreements	200,560		1.73%
Other (1)	77,230
Total	$	2,291,474	3.77%


(1)	Other includes capital leases, ASC 805 “Business Combinations” adjustment, debt service guarantee liability, market value of swaps, discounts on notes, and debt issuance costs. The debt service guarantee liability represents bonds issued in association with a guarantee in connection with a project in Denver, Colorado.


(3)	Year 2020 includes the Term Loan ($200 million) which is at a floating rate of LIBOR + 97.5 bps that has been swapped to a fixed rate of 2.47%. The weighted average rate reflects the fixed rate.



	Maturities		Weighted Average Rate (2)			Floating Rate			Fixed Rate		Secured		Unsecured
2017	$	41,637	5.23%			$	3,730		$	37,907	$	41,637	$	—
2018	44,486		5.46%			17,889			26,597		34,916		9,570
2019	59,804		5.07%						59,804		59,804		—
2020	293,293		3.23%	(3	)	200,000			93,293		93,293		200,000
2021	53,174		4.06%						53,174		53,174		—
2022	308,648		3.40%						308,648		8,648		300,000
2023	306,785		3.52%						306,785		6,785		300,000
2024	257,105		4.44%						257,105		7,105		250,000
2025	304,453		3.94%						304,453		54,453		250,000
2026	278,182		3.56%						278,182		5,212		272,970
Thereafter	135,944		4.84%						135,944		102,199		33,745
Subtotal	2,083,511					221,619			1,861,892		467,226		1,616,285

Revolving Credit Agreements	200,560		1.73%			200,560							200,560
Other (1)	77,219								77,219		24,567		52,652
Swap Maturities:
2020						(200,000		)	200,000
Total	$	2,361,290	3.76%			$	222,179		$	2,139,111	$	491,793	$	1,869,497


(1)	Other includes capital leases, fair value adjustments, debt service guarantee liability, market value of swaps, discounts on notes, and debt issuance costs.




Joint Venture Partner	Number of Operating Properties (1)(2)	Total GLA	Total Assets		Total Debt

TIAA Florida Retail LLC	2	431	$	125,611	$	—
Collins	8	1,168	113,258		18,762
AEW - Institutional Client	5	437	101,971		—
BIT Retail	3	721	141,761		—
Jamestown	6	1,216	142,019		169,217
Fidelis Realty Partners	1	491	127,713		75,041
Sleiman Enterprises	2	170	18,387		13,820
Bouwinvest	3	359	170,754		—
Other	6	888	127,314		23,919

Total	36	5,881	$	1,068,788	$	300,759




Joint Venture Description

TIAA Florida Retail LLC		Joint venture with an institutional partner, TIAA-CREF Global Real Estate
Collins		Primarily a development joint venture in the Texas Rio Grande Valley
AEW - Institutional Client		Joint venture with an institutional partner through AEW Capital Management
BIT Retail		Retail joint venture with Mercantile Real Estate Advisors and its client, the AFL-CIO Building Investment Trust
Jamestown		Retail joint venture in Florida
Fidelis Realty Partners		Retail joint venture in Texas
Sleiman Enterprises		Retail joint venture in Florida
Bouwinvest		Retail joint venture with West Coast focus



(1) Excludes land held for development.
(2) Excludes additional consolidated joint ventures such as AEW Capital Management.



Balance Summary


Joint Venture Partner	# of Mortgaged Properties (2)	Mortgage Balance (1)(2)		Average Interest Rate	Average Remaining Term (yrs)

Collins	2	$	19,001	6.2%	7.7
Jamestown	6	170,000		2.7%	4.3
Fidelis Realty Partners	1	75,153		4.3%	3.4
Sleiman Enterprises	2	13,908		4.1%	8.9
Other	1	23,409		6.3%	4.3

Total	12	$	301,471	3.6%	5.6



Schedule of Maturities


	Maturities (1)(2)		Weighted Average Rate

2017	$	2,974	4.9%
2018	6,127		4.9%
2019	6,444		4.9%
2020	93,010		4.8%
2021	173,014		3.6%
2022	2,068		5.3%
2023	2,182		5.2%
2024	2,302		5.2%
2025	2,302		5.2%
2026	1,780		5.1%
Thereafter	9,268		6.4%
Total	$	301,471


(2)	Excludes additional consolidated joint ventures such as AEW Capital Management.



Schedule of Maturities


	Maturities (1)(2)		Weighted Average Rate

2017	$	1,625	4.9%
2018	3,384		4.9%
2019	3,559		4.9%
2020	55,514		4.9%
2021	35,507		4.1%
2022	1,034		5.3%
2023	1,091		5.2%
2024	1,151		5.2%
2025	1,151		5.2%
2026	890		5.1%
Thereafter	4,633		6.4%
Total	$	109,539