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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 9 Months Ended
Sep. 30, 2023
Accounting Policies [Abstract]  
Schedule of Investment Properties
As of September 30, 2023, the Company’s portfolio consisted of the following:
PropertiesSquare Footage
Operating retail properties(1)
180 28,290,147 
Office properties1 287,291 
Development and redevelopment projects:
Carillon medical office building1 126,000 
The Corner (IN)1 24,000 
Hamilton Crossing Centre1 92,283 
Edwards Multiplex – Ontario1 124,614 
(1)Included within operating retail properties are 10 properties that contain an office component. Excludes one operating retail property classified as held for sale as of September 30, 2023. Of the 180 operating retail properties, 177 are consolidated in these financial statements and the remaining three are accounted for under the equity method.
The following table summarizes the composition of the Company’s investment properties as of September 30, 2023 and December 31, 2022 (in thousands):
Balance as of
September 30, 2023December 31, 2022
Land, buildings and improvements$7,643,839 $7,656,765 
Construction in progress64,569 75,808 
Investment properties, at cost$7,708,408 $7,732,573 
Schedule of Rental Income
Rental income related to the Company’s operating leases is comprised of the following for the three and nine months ended September 30, 2023 and 2022 (in thousands):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2023202220232022
Fixed contractual lease payments – operating leases$159,491 $155,399 $478,215 $457,875 
Variable lease payments – operating leases38,100 36,636 117,730 112,725 
Bad debt reserve(219)(1,882)(2,007)(3,624)
Straight-line rent adjustments3,132 4,328 9,900 12,951 
Straight-line rent reserve for uncollectibility(367)(34)(177)(298)
Amortization of in-place lease liabilities, net3,853 1,228 9,228 3,143 
Rental income$203,990 $195,675 $612,889 $582,772 
Schedule of Noncontrolling Interests The following table summarizes the non-redeemable noncontrolling interests in consolidated properties for the nine months ended September 30, 2023 and 2022 (in thousands):
Nine Months Ended September 30,
20232022
Noncontrolling interests balance as of January 1,$5,370 $5,146 
Net income allocable to noncontrolling interests, excluding redeemable noncontrolling interests201 139 
Distributions to noncontrolling interests(3,196)— 
Noncontrolling interests balance as of September 30,
$2,375 $5,285 
Schedule of Weighted Average Interests of Parent and Limited Partners For the three and nine months ended September 30, 2023 and 2022, the weighted average interests of the Parent Company and the limited partners in the Operating Partnership were as follows:
Three Months Ended
September 30,		Nine Months Ended
September 30,
 2023202220232022
Parent Company’s weighted average interest in Operating Partnership98.5 %98.7 %98.6 %98.8 %
Limited partners’ weighted average interests in Operating Partnership1.5 %1.3 %1.4 %1.2 %
Schedule of Redeemable Noncontrolling Interests
The redeemable noncontrolling interests in the Operating Partnership and subsidiaries for the nine months ended September 30, 2023 and 2022 were as follows (in thousands):
Nine Months Ended September 30,
20232022
Redeemable noncontrolling interests balance as of January 1,$53,967 $55,173 
Net income allocable to redeemable noncontrolling interests499 269 
Distributions declared to redeemable noncontrolling interests(2,281)(1,972)
Other, net including adjustments to redemption value14,815 3,484 
Total limited partners’ interests in the Operating Partnership and other
redeemable noncontrolling interests balance as of September 30,
$67,000 $56,954 
Limited partners’ interests in the Operating Partnership$67,000 $46,884 
Other redeemable noncontrolling interests in certain subsidiaries— 10,070 
Total limited partners’ interests in the Operating Partnership and other
redeemable noncontrolling interests balance as of September 30,
$67,000 $56,954