EX-99.B 12 form10k07ex99b.htm SCHEDULE III- UJV form10k07ex99b.htm

Exhibit 99 (b)
UNCONSOLIDATED JOINT VENTURES OF THE TAUBMAN REALTY GROUP LIMITED PARTNERSHIP
REAL ESTATE AND ACCUMULATED DEPRECIATION
December 31, 2007
(in thousands)

 
Initial Cost
to Company
      
Gross Amount at Which
Carried at Close of Period
                  
 
Land
  
Buildings, Improvements, and Equipment
  
Cost Capitalized Subsequent to Acquisition
  
Land
  
BI&E
  
Total
    
Accumulated Depreciation (A/D)
  
Total Cost
Net of A/D
  
Encumbrances
Date of Completion of 
Construction
or Acquisition
Depreciable Life 
Shopping Centers:
                                        
Arizona Mills, Tempe, AZ 
 $ 22,017   $ 161,664   $ 4,739   $ 22,017   $ 166,403   $ 188,420     $ 58,167   $ 130,253   $ 136,016
1997
50 Years
Fair Oaks, Fairfax, VA 
   7,667     36,043     60,896     7,667     96,939     104,606       50,525     54,081     140,000
1980
55 Years
The Mall at Millenia, Orlando, FL 
   18,516     179,298     6,151     18,516     185,449     203,965       40,157     163,808     210,000
2002
50 Years
Stamford Town Center, Stamford, CT 
   9,538     42,015     70,765     9,538     112,780     122,318       44,672     77,646      
1982
40 Years
Sunvalley, Concord, CA 
   350     66,010     10,609     350     76,619     76,969       50,286     26,683     125,880
1967
40 Years
Waterside Shops at Pelican Bay 
Naples, FL 
   12,604     67,387     75,135     12,604     142,522     155,126       31,561     123,565     165,000
2003
40 Years
Westfarms, Farmington, CT 
   5,287     38,638     109,266     5,287     147,904     153,191       72,091     81,100     195,441
1974
34 Years
Other:
                                                          
Taubman Land Associates 
(Sunvalley), Concord, CA 
   42,697                 42,697           42,697             42,697     30,000
2006
  
Peripheral Land 
   1,547                 1,547           1,547             1,547          
Construction in Process and 
Development Pre-Construction Costs 
               7,541           7,541     7,541             7,541          
Total
 $ 120,223   $ 591,055   $ 345,102   $ 120,223   $ 936,157   $ 1,056,380 (1)   $ 347,459   $ 708,921          

The changes in total real estate assets and accumulated depreciation for the years ended December 31, 2007, 2006, and 2005 are as follows:

 
Total Real
Estate Assets
    
Total Real
Estate Assets
    
Total Real
Estate Assets
    
Accumulated Depreciation
    
Accumulated Depreciation
    
Accumulated Depreciation
  
 
2007
    
2006
    
2005
    
2007
    
2006
    
2005
  
Balance, beginning of year
 $ 1,157,872     $ 1,076,743     $ 1,080,482  
Balance, beginning of year
 $ (320,256 )   $ (363,394 )   $ (360,830 )
New development and improvements
   78,885       48,800       67,023  
Depreciation for year
   (33,173 )     (40,224 )     (47,403 )
Acquisitions
           42,697
  (2)
        
Disposals/Write-offs
   3,928       8,270       18,247  
Disposals/Write-offs
   (3,907 )     (8,272 )     (18,251 )
Transfers In/(Out)
   2,042 (3)     75,092 (4)     26,592 (5)
Transfers In/(Out)
   (176,470 ) (3)     (2,096 ) (4)     (52,511 ) (5)
Balance, end of year
 $ (347,459 )   $ (320,256 )   $ (363,394 )
Balance, end of year
 $ 1,056,380     $ 1,157,872     $ 1,076,743    (6)                        

(1)  
The unaudited aggregate cost for federal income tax purposes as of December 31, 2007 was $1.288 billion.
(2)  
Includes costs related to the purchase of the land under Sunvalley, acquired by a 50% owned joint venture.
(3)  
Includes costs related to The Pier Shops at Caesars, which became a consolidated center in 2007.
(4)  
Primarily includes a $174.8 million transfer out of costs relating to Cherry Creek Shopping Center, which became a consolidated center in 2006, offset by a $176.5 million transfer in of costs relating to The Pier Shops at Caesars.
(5)  
Includes costs relating to Woodland, which was sold in 2005.
(6)  
Excludes costs related to the investment in The Pier Shops at Caesars, which was under construction.