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ORGANIZATION AND BASIS OF PRESENTATION (Tables) | 9 Months Ended
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Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Schedule of Real Estate Properties | As of September 30, 2024, the Company’s portfolio consisted of the following:
| Properties |  | Square Footage
Operating retail properties(1) | 179 |  |  | 27,720,361 |
Office properties | 1 |  |  | 287,291 |
Development and redevelopment projects: |  |  |
Carillon medical office building | 1 |  |  | 126,000 |
The Corner – IN(2) | 1 |  |  | 24,000 |
One Loudoun Expansion(3) | — |  |  | 119,000 |
Hamilton Crossing Centre | 1 |  |  | 92,283 |
Edwards Multiplex – Ontario | 1 |  |  | 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, 2024. Of the 179 operating retail properties, 176 are consolidated within these financial statements and the remaining three are accounted for under the equity method. (2)This property is held in an unconsolidated joint venture in which the Company has a 50% ownership interest. (3)During the three months ended September 30, 2024, the Company began development activities on the retail and office portions of the expansion project at One Loudoun Downtown (the “One Loudoun Expansion”) in the Washington, D.C. metropolitan statistical area (“MSA”). The Company estimates that it will incur net project costs of approximately $65.0 million to $75.0 million related to the One Loudoun Expansion. The following table summarizes the composition of the Company’s investment properties as of September 30, 2024 and December 31, 2023 (in thousands):
| Balance as of
| September 30, 2024 |  | December 31, 2023
Land, buildings and improvements | $ | 7,543,145 |  |  | $ | 7,684,066 |
Construction in progress | 64,704 |  |  | 55,995 |
Investment properties, at cost | $ | 7,607,849 |  |  | $ | 7,740,061 |

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- Definition Tabular disclosure of real estate properties and units in those properties that are included in the discussion of the nature of an entity's operations. + References No definition available. + Details
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