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Fair Value Disclosures (Tables) | 9 Months Ended
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Sep. 30, 2020
Fair Value Disclosures [Abstract] |
Schedule Of Fair Value Debt Obligation | All financial instruments of the Company are reflected in the accompanying unaudited Condensed Consolidated Balance Sheets at amounts which, in management’s judgment, reasonably approximate their fair values, except those instruments listed below:
| September 30, 2020 |  | December 31, 2019
| Carrying Amounts |  | Fair Value |  | Carrying Amounts |  | Fair Value
Secured loan | $ | — |  |  | $ | — |  |  | $ | 7,174 |  |  | $ | 7,306 |
Notes payable | 4,839,634 |  |  | 5,128,018 |  |  | 4,205,952 |  |  | 4,422,513 |
Unsecured Credit Facility and term loans | 642,026 |  |  | 647,968 |  |  | 648,059 |  |  | 658,490 |
Total debt obligations, net | $ | 5,481,660 |  |  | $ | 5,775,986 |  |  | $ | 4,861,185 |  |  | $ | 5,088,309 |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | The following table presents the placement in the fair value hierarchy of assets and liabilities that are measured and recognized at fair value on a recurring basis:
| Fair Value Measurements as of September 30, 2020
| Balance |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Assets: |  |  |  |  |  |  |
Marketable securities(1) | $ | 19,987 |  |  | $ | 891 |  |  | $ | 19,096 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |
Interest rate derivatives | $ | (31,439) |  |  | $ | — |  |  | $ | (31,439) |  |  | $ | — |
| Fair Value Measurements as of December 31, 2019
| Balance |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Assets: |  |  |  |  |  |  |
Marketable securities(1) | $ | 18,054 |  |  | $ | 1,459 |  |  | $ | 16,595 |  |  | $ | — |
Interest rate derivatives | $ | 3,795 |  |  | $ | — |  |  | $ | 3,795 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |
Interest rate derivatives | $ | (13,449) |  |  | $ | — |  |  | $ | (13,449) |  |  | $ | — |
(1)As of September 30, 2020 and December 31, 2019, marketable securities included $0.2 million and $0.1 million of net unrealized gains, respectively. As of September 30, 2020, the contractual maturities of the Company’s marketable securities are within the next five years.
Fair Value Measurements, Nonrecurring | The following table presents the placement in the fair value hierarchy of assets and liabilities that are measured and recognized at fair value on a non-recurring basis. The table includes information related to properties that were remeasured to fair value as a result of impairment testing during the nine months ended September 30, 2020 and during the year ended December 31, 2019, excluding the properties sold prior to September 30, 2020 and December 31, 2019, respectively:
| Fair Value Measurements as of September 30, 2020 |  |
| Balance |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Impairment of Real Estate Assets
Assets: |  |  |  |  |  |  |  |  |
Properties(1)(2)(3) | $ | 18,842 |  |  | $ | — |  |  | $ | — |  |  | $ | 18,842 |  |  | $ | 10,305 |
| Fair Value Measurements as of December 31, 2019 |  |
| Balance |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Impairment of Real Estate Assets
Assets: |  |  |  |  |  |  |  |  |
Properties(4)(5) | $ | 23,533 |  |  | $ | — |  |  | $ | — |  |  | $ | 23,533 |  |  | $ | 7,983 |
(1)Excludes properties disposed of prior to September 30, 2020. (2)The carrying value of properties remeasured to fair value based upon offers from third-party buyers during the nine months ended September 30, 2020 includes $13.9 million related to Northmall Centre. (3)The carrying value of properties remeasured to fair value based upon a discounted cash flow analysis during the nine months ended September 30, 2020 includes $4.9 million related to Spring Mall. The capitalization rate of 8.0% and discount rate of 8.0% which were utilized in the discounted cash flow analysis were based upon unobservable rates that the Company believes to be within a reasonable range of current market rates for the investment. (4)Excludes properties disposed of prior to December 31, 2019. (5)The carrying value of properties remeasured to fair value based upon offers from third-party buyers during the year ended December 31, 2019 includes: (i) $9.7 million related to Brice Park; (ii) $9.1 million related to Mohawk Acres Plaza; (iii) $3.4 million related to Lincoln Plaza; and (iv) $1.3 million related to a parcel at Lakes Crossing.

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- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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