XML 65 R16.htm IDEA: XBRL DOCUMENT v2.4.0.6
Tenant and Other Receivables, net:
 3 Months Ended
Mar. 31, 2012
Tenant and Other Receivables, net:  
Tenant and Other Receivables, net:

8. Tenant and Other Receivables, net:

        Included in tenant and other receivables, net, is an allowance for doubtful accounts of $3,898 and $4,626 at March 31, 2012 and December 31, 2011, respectively. Also included in tenant and other receivables, net, are accrued percentage rents of $2,498 and $7,583 at March 31, 2012 and December 31, 2011, respectively.

        Included in tenant and other receivables, net, are the following notes receivable:

        On March 31, 2006, the Company received a note receivable that is secured by a deed of trust, bears interest at 5.5% and matures on March 31, 2031. At March 31, 2012 and December 31, 2011, the note had a balance of $8,678 and $8,743, respectively.

        On August 18, 2009, the Company received a note receivable from J&R Holdings XV, LLC ("Pederson") that bears interest at 11.55% and matures on December 31, 2013. Pederson is considered a related party because it has an ownership interest in Promenade at Casa Grande. The note is secured by Pederson's interest in Promenade at Casa Grande. The balance on the note at March 31, 2012 and December 31, 2011 was $3,445. Interest income on the note was $104 and $102 for the three months ended March 31, 2012 and 2011, respectively.

        On March 27, 2012, the Company received two notes receivable from principals of AWE Talisman Company for a total of $12,500 that bear interest at 5% and have a maturity date based on the completion, refinancing or sale of Fashion Outlets of Chicago. The notes are collateralized by the principals' interests in Fashion Outlets of Chicago. AWE Talisman is considered a related party because it has an ownership interest in Fashion Outlets of Chicago. Interest income earned on the notes was $8 for the three months ended March 31, 2012.