Taubman Centers to present at REITWeek 2017, NAREIT’s Investor Forum in New York

BLOOMFIELD HILLS, Mich., 2017-Jun-06 — /EPR Retail News/ — Taubman Centers, Inc. (NYSE: TCO) today (06/05/2017) announced that Robert S. Taubman, chairman, president and chief executive officer, and Simon Leopold, chief financial officer, will participate in a roundtable discussion with investors on Wednesday, June 7, 2017 at 11:00 a.m. EDT at REITWeek 2017, NAREIT’s Investor Forum in New York.

The session will be available via webcast at www.taubman.com under “Investors/Investor Events and Presentations” and at http://reitstream.com/reitweek2017/taubman. An online replay will follow shortly after the session and continue for approximately 30 days.

About Taubman

Taubman Centers is an S&P MidCap 400 Real Estate Investment Trust engaged in the ownership, management and/or leasing of 27 regional, super-regional and outlet shopping centers in the U.S. and Asia. Taubman’s U.S.-owned properties are the most productive in the publicly held U.S. regional mall industry. Founded in 1950, Taubman is headquartered in Bloomfield Hills, Mich. Taubman Asia, founded in 2005, is headquartered in Hong Kong. www.taubman.com.

For ease of use, references in this press release to “Taubman Centers,” “company,” “Taubman” or an operating platform mean Taubman Centers, Inc. and/or one or more of a number of separate, affiliated entities. Business is actually conducted by an affiliated entity rather than Taubman Centers, Inc. itself or the named operating platform.

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements reflect management’s current views with respect to future events and financial performance. Forward-looking statements can be identified by words such as “will”, “may”, “could”, “expect”, “anticipate”, “believes”, “intends”, “should”, “plans”, “estimates”, “approximate”, “guidance” and similar expressions in this press release that predict or indicate future events and trends and that do not report historical matters. The forward-looking statements included in this release are made as of the date hereof. Except as required by law, the company assumes no obligation to update these forward-looking statements, even if new information becomes available in the future. Actual results may differ materially from those expected because of various risks, uncertainties and other factors. Such factors include, but are not limited to: changes in market rental rates; unscheduled closings or bankruptcies of tenants; relationships with anchor tenants; trends in the retail industry; the liquidity of real estate investments; the company’s ability to comply with debt covenants; the availability and terms of financings; changes in market rates of interest and foreign exchange rates for foreign currencies; changes in value of investments in foreign entities; the ability to hedge interest rate and currency risk; risks related to acquiring, developing, expanding, leasing and managing properties; changes in value of investments in foreign entities; risks related to joint venture properties; insurance costs and coverage; security breaches that could impact the company’s information technology, infrastructure or personal data; the loss of key management personnel; shareholder activism costs and related business disruptions; terrorist activities; maintaining the company’s status as a real estate investment trust; changes in the laws of states, localities, and foreign jurisdictions that may increase taxes on the company’s operations; and changes in global, national, regional and/or local economic and geopolitical climates. You should review the company’s filings with the Securities and Exchange Commission, including “Risk Factors” in its most recent Annual Report on Form 10-K and subsequent quarterly reports, for a discussion of such risks and uncertainties.

Contact:
Ryan Hurren
Director
Investor Relations
Taubman
248-258-7232
rhurren@taubman.com

Maria Mainville
Director
Strategic Communications
Taubman
248-258-7469
mmainville@taubman.com

Source: Taubman Centers, Inc.

Taubman Centers management team to present at the Citi 2017 Global Property CEO Conference

BLOOMFIELD HILLS, Mich., 2017-Mar-01 — /EPR Retail News/ — Taubman Centers, Inc. (NYSE: TCO) today (02/28/2017) announced that Robert S. Taubman, chairman, president and chief executive officer, and Simon J. Leopold, chief financial officer, will participate in a company roundtable presentation to the investment community at the Citi 2017 Global Property CEO Conference on Tuesday, March 7, 2017 at 3:40 p.m. EST. The presentation will be available via live webcast at http://www.veracast.com/webcasts/citigroup/globalproperty2017/75214400511.cfm. An online replay will follow shortly after the presentation and be available at the same link until June 4, 2017.

About Taubman

Taubman Centers is an S&P MidCap 400 Real Estate Investment Trust engaged in the ownership, management and/or leasing of 26 regional, super-regional and outlet shopping centers in the U.S. and Asia and one under development. Taubman’s U.S.-owned properties are the most productive in the publicly held U.S. regional mall industry. Founded in 1950, Taubman is headquartered in Bloomfield Hills, Mich. Taubman Asia, founded in 2005, is headquartered in Hong Kong. www.taubman.com.

For ease of use, references in this press release to “Taubman Centers,” “company,” “Taubman” or an operating platform mean Taubman Centers, Inc. and/or one or more of a number of separate, affiliated entities. Business is actually conducted by an affiliated entity rather than Taubman Centers, Inc. itself or the named operating platform.

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements reflect management’s current views with respect to future events and financial performance. Forward-looking statements can be identified by words such as “will”, “may”, “could”, “expect”, “anticipate”, “believes”, “intends”, “should”, “plans”, “estimates”, “approximate”, “guidance” and similar expressions in this press release that predict or indicate future events and trends and that do not report historical matters. The forward-looking statements included in this release are made as of the date hereof. Except as required by law, the company assumes no obligation to update these forward-looking statements, even if new information becomes available in the future. Actual results may differ materially from those expected because of various risks, uncertainties and other factors. Such factors include, but are not limited to: changes in market rental rates; unscheduled closings or bankruptcies of tenants; relationships with anchor tenants; trends in the retail industry; the liquidity of real estate investments; the company’s ability to comply with debt covenants; the availability and terms of financings; changes in market rates of interest and foreign exchange rates for foreign currencies; changes in value of investments in foreign entities; the ability to hedge interest rate and currency risk; risks related to acquiring, developing, expanding, leasing and managing properties; changes in value of investments in foreign entities; risks related to joint venture properties; insurance costs and coverage; security breaches that could impact the company’s information technology, infrastructure or personal data; the loss of key management personnel; shareholder activism costs and related business disruptions; terrorist activities; maintaining the company’s status as a real estate investment trust; changes in the laws of states, localities, and foreign jurisdictions that may increase taxes on the company’s operations; and changes in global, national, regional and/or local economic and geopolitical climates. You should review the company’s filings with the Securities and Exchange Commission, including “Risk Factors” in its most recent Annual Report on Form 10-K and subsequent quarterly reports, for a discussion of such risks and uncertainties.

Contact:

Ryan Hurren
Taubman
Director
Investor Relations
248-258-7232
rhurren@taubman.com

Maria Mainville
Taubman
Director
Strategic Communications
248-258-7469
mmainville@taubman.com

Source: Taubman Centers, Inc.

Peter J. Sharp will assume the position of President, Taubman Asia

Peter J. Sharp will assume the position of President, Taubman Asia
Peter J. Sharp will assume the position of President, Taubman Asia

 

BLOOMFIELD HILLS, Mich, 2016-Sep-13 — /EPR Retail News/ — Taubman Centers, Inc. (NYSE: TCO) has announced that Peter J. Sharp will assume the position of president, Taubman Asia, as current president René Tremblay transitions to chairman of Taubman Asia effective January 1, 2017. In his role, Sharp will report to Taubman Centers, Inc. Chairman, President and CEO Robert S. Taubman and will be responsible for the company’s operations and growth strategy in the Asia-Pacific region.

Sharp, a 20-year veteran of Walmart International, is leaving his post as president of Walmart Asia Realty where he oversees the company’s Asia real estate portfolio, mall developments and has been responsible for all aspects of business planning, real estate, realty partnerships and mergers and acquisitions. He has led the company’s expansion in China and entry into India, Japan and South Korea.

“Asia is an important growth vehicle for Taubman and our future success in the region will rely greatly upon Peter’s expertise and leadership,” said Taubman. “We are delighted to welcome him to the executive team next year.”

Tremblay joined Taubman in 2010 as president of Taubman Asia. He is responsible for the company’s expansions in the region that include the ground-up development properties in China, City On.Xi’an (opened April 2016) and City On .Zhengzhou (opening March 2017), and Starfield Hanam in South Korea (opened Sept 9, 2016). He also led Taubman’s third party management and leasing efforts behind The Boulevard at Studio City in Macau and IFC Mall in South Korea.

“René is a tremendous, highly respected leader who has expertly guided us through our entry into the Asian market,” said Taubman. “He has built an outstanding platform for our future growth in the region and we thank him for his numerous accomplishments as he assumes this new role.”

About Taubman
Taubman Centers is an S&P MidCap 400 Real Estate Investment Trust engaged in the ownership, management and/or leasing of 26 regional, super-regional and outlet shopping centers in the U.S. and Asia. Taubman’s U.S.-owned properties are the most productive in the publicly held U.S. regional mall industry. Founded in 1950, Taubman is headquartered in Bloomfield Hills, Mich. Taubman Asia, founded in 2005, is headquartered in Hong Kong. www.taubman.com.

For ease of use, references in this press release to “Taubman Centers,” “company,” “Taubman” or an operating platform mean Taubman Centers, Inc. and/or one or more of a number of separate, affiliated entities. Business is actually conducted by an affiliated entity rather than Taubman Centers, Inc. itself or the named operating platform.

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements reflect management’s current views with respect to future events and financial performance. Forward-looking statements can be identified by words such as “will”, “may”, “could”, “expect”, “anticipate”, “believes”, “intends”, “should”, “plans”, “estimates”, “approximate”, “guidance” and similar expressions in this press release that predict or indicate future events and trends and that do not report historical matters. The forward-looking statements included in this release are made as of the date hereof. Except as required by law, we assume no obligation to update these forward-looking statements, even if new information becomes available in the future. Actual results may differ materially from those expected because of various risks, uncertainties and other factors. Such factors include, but are not limited to: changes in market rental rates; unscheduled closings or bankruptcies of tenants; relationships with anchor tenants; trends in the retail industry; the liquidity of real estate investments; the company’s ability to comply with debt covenants; the availability and terms of financings; changes in market rates of interest and foreign exchange rates for foreign currencies; changes in value of investments in foreign entities; the ability to hedge interest rate and currency risk; risks related to acquiring, developing, expanding, leasing and managing properties; changes in value of investments in foreign entities; risks related to joint venture properties; insurance costs and coverage; security breaches that could impact the company’s information technology, infrastructure or personal data; the loss of key management personnel; terrorist activities; maintaining the company’s status as a real estate investment trust; changes in the laws of states, localities, and foreign jurisdictions that may increase taxes on the company’s operations; and changes in global, national, regional and/or local economic and geopolitical climates. You should review the company’s filings with the Securities and Exchange Commission, including “Risk Factors” in its most recent Annual Report on Form 10-K and subsequent quarterly reports, for a discussion of such risks and uncertainties.

Contact:
Maria Mainville
Taubman, Director, Communications
1-248-258-7469
mmainville@taubman.com

Ryan Hurren
Taubman, Director, Investor Relations
1-248-258-7232
rhurren@taubman.com

Source: Taubman Centers, Inc.

###

Taubman Asia and Shinsegae Group opens Starfield Hanam shopping center in Hanam, Gyeonggi Province, South Korea

SEOUL, South Korea, 2016-Sep-10 — /EPR Retail News/ —  Excited crowds gathered for the grand opening of Starfield Hanam shopping center today (09/09/2016) in Hanam, Gyeonggi Province, South Korea. Developed by Taubman Asia and Shinsegae Group, the center was opened after a ceremonial ribbon cutting featuring Taubman Centers, Inc. Chairman, President and CEO Robert S. Taubman, René Tremblay, president Taubman Asia, Yong-Jin Chung, group vice chairman of Shinsegae Group, Jing-Soo Lee, deputy mayor of Hanam, Hyun-Jae Lee, National Assembly member and other special guests.

Starfield Hanam is nearly 100 percent leased and occupied with almost 300 stores and restaurants. The 1.7 million square foot center is anchored by Korea’s number one department store brand, Shinsegae, and offers everything from fast fashion to luxury items through a unique collection of domestic and international retailers, as well as an incredible variety of dining and entertainment destinations.

“Starfield Hanam is Taubman Asia’s first ground-up development in South Korea and we could not be more thrilled with this center,” said Taubman. “Together with our partner Shinsegae, we have created an unparalleled destination that has exceeded all expectations.”

“South Korea’s first ‘shopping theme park’ is a new business model for the country, integrating the brick and mortar shopping experience with E-Mart distribution,” said Yong-Jin Chung, vice chairman of Shinsegae Group. “We carefully curated the selection of stores and services to benefit our customers and satisfy their diverse needs.”

Shopping, Dining and Entertainment

Starfield Hanam’s collection of international luxury brands includes Balenciaga, Burberry, Bvlgari, Fendi, Ferragamo, Gucci, Louis Vuitton, Miu Miu, Prada, Saint Laurent and many more. Fast fashion favorites are also well-represented including Cos, H&M, Massimo Dutti, Oysho, Uniqlo and Zara to name a few.

With 110,000 square feet of dining options, there is something for every palette. Gourmet Street, on the ground level, has 17 restaurants and cafes while the Eatopia food court offers more casual fare with 18 kiosks specializing in well-known local artisan eats. The food court features indoor/outdoor seating with views of the Han River and Gumdan Mountain. A sampling of the restaurants that opened today include Devil’s Door, Everest, Hanwoori, Phoenix Yumcha, Pyeongyang Myeon-Ok and Vecchia e Nuovo.

Starfield Hanam also offers showrooms by BMW, Genesis, Hyundai and Harley Davidson. Tesla will be opening soon.

Another key component of the overall Starfield Hanam experience is entertainment. The eleven-screen Megabox cinema, a Sports Monster sportsplex offering everything from rock climbing to basketball and a 112,000 square foot Aquafield indoor/outdoor water park provides fun-filled experiences when shopping is complete.

For more information about Starfield Hanam, please visit www.taubman.com or the center’s website at www.starfield.co.kr.

About Starfield Hanam
Starfield Hanam, located in scenic Hanam, South Korea just east of Seoul, is the largest western-style shopping center in the country at nearly 1.7 million square feet. Anchored by Shinsegae department store, the center offers approximately 300 stores, restaurants, and a variety of sports and entertainment venues. Conveniently connected to the Misa road, which is linked to the Greater Seoul freeway network, Starfield offers approximately 6,200 parking spaces and access to bus transportation routes.

About Taubman Asia
Taubman Asia is a subsidiary of U.S. Mall operator Taubman Centers, Inc. (NYSE: TCO) – a leader in the shopping center industry. Taubman Asia is the platform for Taubman Centers’ expansion into China and South Korea and focuses on owning, managing, and/or leasing high-quality and sustainable retail real estate projects inAsia that leverage Taubman’s strong retail planning design and operational capabilities. The company opened CityOn.Xi’an (Xi’an, China) and Starfield Hanam (Hanam, South Korea) in 2016 and will open CityOn.Zhenzghou (Zhengzhou, China) in 2017. For more information about Taubman Asia, visit taubmanasia.com.

About Shinsegae Group
Shinsegae Group is a retail company group with 33 subsidiary companies and has recorded sales of KRW 20 trillion and the total asset amount of KRW 29 trillion in 2015. Shinsegae Group has been leading the new trends in Korean retail with the first department store, the first discount retailer and the first premium outlet in South Korea. Shinsegae Group has two big businesses, Shinsegae department store and E-mart. Shinsegae department store operates 11 stores and E-mart operates 157 stores in South Korea and 10 stores in China,Vietnam and Mongolia, following the first store in 1993 (as of August 2016).

For ease of use, references in this press release to “Taubman Centers,” “company,” “Taubman” or an operating platform mean Taubman Centers, Inc. and/or one or more of a number of separate, affiliated entities. Business is actually conducted by an affiliated entity rather than Taubman Centers, Inc. itself or the named operating platform.

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements reflect management’s current views with respect to future events and financial performance. The forward-looking statements included in this release are made as of the date hereof. Except as required by law, we assume no obligation to update these forward-looking statements, even if new information becomes available in the future. Actual results may differ materially from those expected because of various risks and uncertainties.You should review the company’s filings with the Securities and Exchange Commission, including “Risk Factors” in its most recent Annual Report on Form 10-K and subsequent quarterly reports, for a discussion of such risks and uncertainties.

Contact:

Ryan Hurren
Taubman, Director, Investor Relations
248-258-7232
rhurren@taubman.com

Maria Mainville
Taubman, Director, Strategic Communications
248-258-7469,
mmainville@taubman.com

Moonjin Park
Senior Marketing Manager, Marketing
82-2-6137-5016 (South Korea),
mpark@taubman.com

Source: Taubman Centers, Inc.

Taubman Centers’ Robert S. Taubman to present at the Bank of America Merrill Lynch 2016 Global Real Estate Conference

BLOOMFIELD HILLS, Mich., 2016-Sep-08 — /EPR Retail News/ — Taubman Centers, Inc. (NYSE: TCO) today (09/07/2016) announced that Robert S. Taubman, chairman, president and chief executive officer will participate in a company roundtable presentation to the investment community at the Bank of America Merrill Lynch 2016 Global Real Estate Conference on Wednesday, September 14, 2016 at 1:25 p.m. EDT. The presentation will be available via live webcast at http://www.veracast.com/webcasts/baml/realestate2016/id49203349849.cfm. An online replay will follow shortly after the presentation and be available at the same link until Monday, December 12, 2016.

About Taubman
Taubman Centers is an S&P MidCap 400 Real Estate Investment Trust engaged in the ownership, management and/or leasing of 25 regional, super-regional and outlet shopping centers in the U.S. and Asia. Taubman’s U.S.-owned properties are the most productive in the publicly held U.S. regional mall industry. Taubman is currently developing two properties in Asia totaling 2.7 million square feet. Founded in 1950, Taubman is headquartered in Bloomfield Hills, Mich. Taubman Asia, founded in 2005, is headquartered in Hong Kong. www.taubman.com.

For ease of use, references in this press release to “Taubman Centers,” “company,” “Taubman” or an operating platform mean Taubman Centers, Inc. and/or one or more of a number of separate, affiliated entities. Business is actually conducted by an affiliated entity rather than Taubman Centers, Inc. itself or the named operating platform.

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements reflect management’s current views with respect to future events and financial performance. The forward-looking statements included in this release are made as of the date hereof. Except as required by law, we assume no obligation to update these forward-looking statements, even if new information becomes available in the future. Actual results may differ materially from those expected because of various risks and uncertainties.You should review the company’s filings with the Securities and Exchange Commission, including “Risk Factors” in its most recent Annual Report on Form 10-K and subsequent quarterly reports, for a discussion of such risks and uncertainties.

Contact:

Ryan Hurren
Director, Investor Relations, Taubman
248-258-7232
rhurren@taubman.com

Maria Mainville
Director, Strategic Communications, Taubman
248-258-7469
mmainville@taubman.com

Source: Taubman Centers, Inc.

Taubman Centers announces that Myron E. (Mike) Ullman has rejoined its Board of Directors

BLOOMFIELD HILLS, Mich., 2016-Apr-06 — /EPR Retail News/ — Taubman Centers, Inc. (NYSE: TCO) today announced thatMyron E. (Mike) Ullman has rejoined the company’s Board of Directors. He will serve as an independent member of the company’s board, filling the vacancy created by former Vice Chairman Lisa A. Payne’s departure on March 31, 2016. Mr. Ullman will assume Ms. Payne’s remaining term, which expires in 2017. Mr. Ullman previously served on the company’s Board of Directors from April 2003 to October 2004.

Mr. Ullman will be an independent director under the New York Stock Exchange rules, bringing the number of independent directors to seven of nine directors. Mr. Ullman, who will serve on both the audit committee and the nominating and corporate governance committee, brings extensive experience in the areas of finance, executive compensation, risk assessment and compliance. The Board has determined that he qualifies as an audit committee financial expert under SEC rules.

“We are pleased that Mike Ullman has accepted the company’s invitation to rejoin the board,” said Robert S. Taubman, chairman, president and chief executive officer of Taubman Centers. “He brings a wealth of experience in the retail industry to the board, and we are honored to have him back.”

Mr. Ullman stated “I am delighted to be rejoining Taubman Centers’ distinguished directors. This is an exceptional company with wonderful assets. I look forward to working with the board to continue to deliver value to allTaubman Centers shareholders.”

Mr. Ullman has considerable retail experience. He currently serves on the Board of Directors of Starbucks Corporation as lead director and chair of the compensation and management development committee, and is J.C. Penney Company, Inc.’s executive chairman. He served as J.C. Penney Company, Inc.’s chief executive officer and a member of the board from April 2013 to August 2015, as the executive chairman from November 2011 toJanuary 2012, and as the chairman of the Board of Directors and chief executive officer from December 2004 toNovember 2011.

Mr. Ullman served as the chairman of the Federal Reserve Bank of Dallas through the end of 2014. He also served as directeur general, group managing director of LVHM Moët Hennessy Louis Vuitton, a luxury goods manufacturer and retailer from July 1999 to January 2002. From January 1995 to June 1999, he served as chairman and chief executive officer of DFS Group Limited, a retailer of luxury branded merchandise. From 1992 to 1996, Mr. Ullman served as chairman and chief executive officer of R.H. Macy & Co., Inc. He has previously served on the Board of Directors for Ralph Lauren Corporation, Saks, Inc., Pzena Investment Management, Inc., as well as Taubman Centers, Inc.

Mr. Ullman serves as chairman of Mercy Ships International, a global medical charity. He also serves on numerous boards of community and not-for-profit organizations, including Gordon College, United States Foundation For Inspiration and Recognition of Science and Technology (FIRST) and the University of Cincinnati Foundation.

About Taubman
Taubman Centers, Inc. (NYSE: TCO) is an S&P MidCap 400 Real Estate Investment Trust engaged in the ownership, management and/or leasing of 24 regional, super-regional and outlet shopping centers in the U.S. andAsia. Taubman’s U.S.-owned properties are the most productive in the publicly held U.S. regional mall industry. Taubman is currently developing four properties in the U.S. and Asia totaling 4.1 million square feet. Founded in 1950, Taubman is headquartered in Bloomfield Hills, Mich. Taubman Asia, founded in 2005, is headquartered inHong Kong. www.taubman.com.

For ease of use, references in this press release to “Taubman Centers,” “company,” “Taubman” or an operating platform mean Taubman Centers, Inc. and/or one or more of a number of separate, affiliated entities. Business is actually conducted by an affiliated entity rather than Taubman Centers, Inc. itself or the named operating platform.

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements reflect management’s current views with respect to future events and financial performance. The forward-looking statements included in this release are made as of the date hereof. Except as required by law, we assume no obligation to update these forward-looking statements, even if new information becomes available in the future. Actual results may differ materially from those expected because of various risks and uncertainties.You should review the company’s filings with the Securities and Exchange Commission, including “Risk Factors” in its most recent Annual Report on Form 10-K and subsequent quarterly reports, for a discussion of such risks and uncertainties.

Source: Taubman Centers, Inc.

Ryan Hurren, Taubman, Director, Investor Relations, 248-258-7232
rhurren@taubman.com

or

Maria Mainville, Taubman, Director, Strategic Communications, 248-258-7469
mmainville@taubman.com

Taubman Centers executives to present at the Citi 2016 Global Property CEO Conference

BLOOMFIELD HILLS, Mich., 2016-Mar-14 — /EPR Retail News/ — Taubman Centers, Inc. (NYSE: TCO) today announced that Robert S. Taubman, chairman, president and chief executive officer, and Simon J. Leopold, chief financial officer, will participate in a company roundtable presentation to the investment community at the Citi 2016 Global Property CEO Conference on Monday, March 14, 2016 at 2:55 p.m. EDT. The presentation will be available via live webcast at http://www.veracast.com/webcasts/citigroup/globalproperty2016/51111422152.cfm. An online replay will follow shortly after the presentation and be available at the same link until June 14, 2016.

About Taubman
Taubman Centers is an S&P MidCap 400 Real Estate Investment Trust engaged in the ownership, management and/or leasing of 24 regional, super-regional and outlet shopping centers in the U.S. and Asia. Taubman’s U.S.-owned properties are the most productive in the publicly held U.S. regional mall industry. Taubman is currently developing four properties in the U.S. and Asia totaling 4.1 million square feet. Founded in 1950, Taubman is headquartered in Bloomfield Hills, Mich. Taubman Asia, founded in 2005, is headquartered in Hong Kong. www.taubman.com.

For ease of use, references in this press release to “Taubman Centers,” “company,” “Taubman” or an operating platform mean Taubman Centers, Inc. and/or one or more of a number of separate, affiliated entities. Business is actually conducted by an affiliated entity rather than Taubman Centers, Inc. itself or the named operating platform.

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements reflect management’s current views with respect to future events and financial performance. The forward-looking statements included in this release are made as of the date hereof. Except as required by law, we assume no obligation to update these forward-looking statements, even if new information becomes available in the future. Actual results may differ materially from those expected because of various risks and uncertainties.You should review the company’s filings with the Securities and Exchange Commission, including “Risk Factors” in its most recent Annual Report on Form 10-K and subsequent quarterly reports, for a discussion of such risks and uncertainties.

Source: Taubman Centers, Inc.

Ryan Hurren, Taubman, Director, Investor Relations, 248-258-7232
rhurren@taubman.com

Maria Mainville, Taubman, Director, Strategic Communications, 248-258-7469
mmainville@taubman.com

Taubman not to move forward with an enclosed regional mall that was slated to be part of Miami Worldcenter mixed-use development in Miami, Florida

  • Company has decided not to move forward with enclosed regional mall
  • Now pursuing a high street retail plan
  • Write off of $11-$12 million to be recognized in the fourth quarter of 2015

BLOOMFIELD HILLS, Mich., 2016-1-12 — /EPR Retail News/ — Taubman Centers, Inc. (NYSE: TCO) today announced that it has decided not to move forward with an enclosed regional mall that was slated to be part of the Miami Worldcenter mixed-use, urban development in Miami, Florida. Instead, Taubman, in conjunction with The Forbes Company and Miami Worldcenter’s master developer, Miami Worldcenter Associates, is now pursuing a high street retail plan that will better utilize the unique characteristics of the site and the market.

As a result of the decision, during the fourth quarter of 2015, Taubman expects to recognize a charge of $11-$12 million for the write off of previously capitalized costs related to predevelopment of the enclosed mall plan. This is expected to reduce 2015 Funds from Operations and net income allocable to common shareholders per diluted common share (EPS) by $0.13-$0.14.

“We’ve invested a significant amount of time on the project,” said Robert S. Taubman, chairman, president and chief executive officer of Taubman Centers. “Unfortunately, we were unable to structure an enclosed mall program that meets our investment criteria. We’re pleased, however, to work with The Forbes Company and Miami Worldcenter Associates on the potential development of a high street plan that we all believe will provide an outstanding retail experience.”

Taubman and Forbes have agreed with Miami Worldcenter Associates on preliminary terms to lease the retail portion of the street level project, with an option to purchase the retail component for a predetermined price once it opens.

About Miami Worldcenter
Occupying 27 acres in the heart of downtown Miami, Miami Worldcenter is one of the largest private real estate developments underway in the United States. The ten-block project will include world-class retail, hospitality and residential uses in the center of Miami’s urban core. All told, the project is expected to account for $2 billion in new investment in downtown Miami.

About Taubman
Taubman Centers is an S&P MidCap 400 Real Estate Investment Trust engaged in the ownership, management and/or leasing of 23 regional, super-regional and outlet shopping centers in the U.S. and Asia. Taubman’s U.S.-owned properties are the most productive in the publicly held U.S. regional mall industry. Taubman is currently developing four properties in the U.S. and Asia totaling 4.1 million square feet. Founded in 1950, Taubman is headquartered in Bloomfield Hills, Mich. Taubman Asia, founded in 2005, is headquartered in Hong Kong. www.taubman.com.

For ease of use, references in this press release to “Taubman Centers,” “company,” “Taubman” or an operating platform mean Taubman Centers, Inc. and/or one or more of a number of separate, affiliated entities. Business is actually conducted by an affiliated entity rather than Taubman Centers, Inc. itself or the named operating platform.

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements reflect management’s current views with respect to future events and financial performance. The forward-looking statements included in this release are made as of the date hereof. Except as required by law, we assume no obligation to update these forward-looking statements, even if new information becomes available in the future. Actual results may differ materially from those expected because of various risks and uncertainties.You should review the company’s filings with the Securities and Exchange Commission, including “Risk Factors” in its most recent Annual Report on Form 10-K and subsequent quarterly reports, for a discussion of such risks and uncertainties.

Source: Taubman Centers, Inc.

Ryan Hurren, Taubman, Director, Investor Relations, 248-258-7232,
rhurren@taubman.com

Maria Mainville, Taubman, Director, Strategic Communications, 248-258-7469,
mmainville@taubman.com

Taubman Centers CEO Robert S. Taubman to present at Bank of America Merrill Lynch 2015 Global Real Estate Conference

BLOOMFIELD HILLS, Mich., 2015-9-10 — /EPR Retail News/ — Taubman Centers, Inc. (NYSE: TCO) today announced that Robert S. Taubman, chairman, president and chief executive officer will participate in a company roundtable presentation to the investment community at the Bank of America Merrill Lynch 2015 Global Real Estate Conference on Thursday, September 17, 2015 at 12:30 p.m. EST. The presentation will be available via live webcast at http://www.veracast.com/webcasts/baml/realestate2015/id02202126007.cfm. An online replay will follow shortly after the presentation and be available at the same link until Wednesday, December 16, 2015.

About Taubman
Taubman Centers is an S&P MidCap 400 Real Estate Investment Trust engaged in the ownership, management and/or leasing of 22 regional, super-regional and outlet shopping centers in the U.S. and Asia. Taubman’s U.S.-owned properties are the most productive in the publicly held U.S. regional mall industry. Taubman is currently developing four properties in the U.S. and Asia totaling 4.1 million square feet. Founded in 1950, Taubman is headquartered in Bloomfield Hills, Mich. Taubman Asia, founded in 2005, is headquartered in Hong Kong. www.taubman.com.

For ease of use, references in this press release to “Taubman Centers,” “company,” “Taubman” or an operating platform mean Taubman Centers, Inc. and/or one or more of a number of separate, affiliated entities. Business is actually conducted by an affiliated entity rather than Taubman Centers, Inc. itself or the named operating platform.

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements reflect management’s current views with respect to future events and financial performance. The forward-looking statements included in this release are made as of the date hereof. Except as required by law, we assume no obligation to update these forward-looking statements, even if new information becomes available in the future. Actual results may differ materially from those expected because of various risks and uncertainties.You should review the company’s filings with the Securities and Exchange Commission, including “Risk Factors” in its most recent Annual Report on Form 10-K and subsequent quarterly reports, for a discussion of such risks and uncertainties.

Source: Taubman Centers, Inc.

Ryan Hurren, Taubman, Director, Investor Relations, 248-258-7232, rhurren@taubman.com