Taubman Centers, Inc. is a self-administered and self-managed real estate investment trust (REIT). The Taubman Realty Group Limited Partnership (TRG) is a partnership subsidiary of the Company that owns direct or indirect interests in all of its real estate properties. The Company owns, leases, acquires, disposes of, develops, expands and manages regional and super-regional shopping centers and interests therein. The Company’s portfolio of operating centers, as of December 31, 2014, consisted of 18 urban and suburban shopping centers in 10 states. The centers are located in metropolitan areas, including Denver, Detroit, Los Angeles, Miami, Nashville, New York City, Orlando, Salt Lake City, San Francisco, Sarasota, Saint Louis, Tampa and Washington, D.C. The centers range in size between 236,000 and 1.6 million square feet of gross leasable area (GLA) and between 186,000 and 671,000 square feet of Mall GLA with an average of 1 million and 0.5 million square feet, respectively.