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Mortgages Payable | 12 Months Ended
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Dec. 31, 2024
Debt Disclosure [Abstract] |
Mortgages Payable | 14. Mortgages Payable: Mortgages, collateralized by certain shopping center properties (see Financial Statement Schedule III included in this annual report on Form 10-K), are generally due in monthly installments of principal and/or interest. As of December 31, 2024 and 2023, the Company’s Mortgages payable, net consisted of the following (dollars in millions):
|  | Carrying Amount at December 31, |  |  | Interest Rate at December 31, |  | Maturity Date at
|  | 2024 |  |  | 2023 |  |  | 2024 |  | 2023 |  | December 31, 2024
Mortgages payable |  | $ | 498.1 |  |  | $ | 355.7 |  |  | 3.33% - 7.08% |  | 3.33% - 7.23% |  | Feb-2025 – Jun-2031
Fair value debt adjustments, net |  |  | (0.6 | ) |  |  | (0.6 | ) |  | n/a |  | n/a |  | n/a
Deferred financing costs, net |  |  | (1.1 | ) |  |  | (1.2 | ) |  | n/a |  | n/a |  | n/a
|  | $ | 496.4 |  |  | $ | 353.9 |  |  | 4.39%* |  | 4.22%* |  |
* Weighted-average interest rate During 2024, the Company (i) assumed $164.6 million of non-recourse mortgage debt through the acquisition of an operating property and (ii) repaid $11.8 million of mortgage debt that encumbered three ope rating properties. During 2023, the Company (i) assumed $37.2 million of individual non-recourse mortgage debt through the acquisition of two operating properties, which it subsequently repaid in March 2023 and (ii) repaid $12.3 million of mortgage debt that encumbered two operating properties and a consolidated joint venture operating property. The scheduled principal payments (excluding any extension options available to the Company) of all mortgages payable, excluding unamortized fair value debt adjustments o f $0.6 millio n and unamortized debt issuance costs of $1.1 million, as of December 31, 2024, were as follows (in millions):
|  | 2025 |  |  | 2026 |  |  | 2027 |  |  | 2028 |  |  | 2029 |  |  | Thereafter |  |  | Total |
Principal payments |  | $ | 76.4 |  |  | $ | 11.0 |  |  | $ | 42.7 |  |  | $ | 117.7 |  |  | $ | 238.6 |  |  | $ | 11.7 |  |  | $ | 498.1 |

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- Definition The entire disclosure for mortgage notes payable. + References No definition available. + Details
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