XML 33 R43.htm IDEA: XBRL DOCUMENT v2.4.0.6
Investments in Unconsolidated Joint Ventures: (Details 2) (USD $)
In Thousands, unless otherwise specified
 3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Dec. 31, 2012
Assets of unconsolidated joint ventures:      
Properties, net $ 3,664,484   $ 3,653,631
Other assets 324,402   411,862
Total assets 3,988,886   4,065,493
Liabilities and partners' capital of unconsolidated joint ventures:      
Mortgage notes payable 3,274,872   3,240,723
Other liabilities 171,073   148,711
Company's capital 237,806   304,477
Outside partners' capital 305,135   371,582
Total liabilities and partners' capital 3,988,886   4,065,493
Investments in unconsolidated joint ventures:      
Company's capital 237,806   304,477
Basis adjustment 514,521   516,833
Investments in unconsolidated joint ventures 752,327   821,310
Assets - Investments in unconsolidated joint ventures 945,935   974,258
Liabilities - Distributions in excess of investments in unconsolidated joint ventures (193,608)   (152,948)
Investments in unconsolidated joint ventures, net of distributions in excess of investments 752,327   821,310
Mortgage notes payable that could become recourse debt to the Company 51,151   51,171
Indemnity of guaranteed amount 21,270   21,270
Amortization of difference between cost of investments and book value of underlying equity 2,562 (57)  
Revenues of unconsolidated joint ventures:      
Minimum rents 109,590 139,080  
Percentage rents 2,857 4,653  
Tenant recoveries 52,190 66,701  
Other 9,582 10,523  
Total revenues 174,219 220,957  
Expenses of unconsolidated joint ventures:      
Shopping center and operating expenses 59,101 78,599  
Interest expense 37,931 55,432  
Depreciation and amortization 37,161 46,591  
Total operating expenses 134,193 180,622  
Gain (loss) on sale or distribution of assets (190) 22,990  
Net income 39,836 63,325  
Company's equity in net income 18,115 30,618  
Northwestern Mutual Life ("NML")
      
Investments in unconsolidated joint ventures:      
Mortgage notes payable to affiliate 435,262   436,857
Interest expense on borrowings from related party 6,943 11,055  
Pacific Premier Retail LP
      
Assets of unconsolidated joint ventures:      
Total assets 1,035,401   1,039,742
Investments in unconsolidated joint ventures:      
Total liabilities 939,057   942,370
Revenues of unconsolidated joint ventures:      
Minimum rents 33,132 33,635  
Percentage rents 989 963  
Tenant recoveries 13,954 13,474  
Other 1,251 1,266  
Total revenues 49,326 49,338  
Expenses of unconsolidated joint ventures:      
Shopping center and operating expenses 14,448 14,162  
Interest expense 11,574 13,288  
Depreciation and amortization 10,910 10,462  
Total operating expenses 36,932 37,912  
Net income 12,394 11,426  
Company's equity in net income 5,691 5,810  
Tysons Corner LLC
      
Assets of unconsolidated joint ventures:      
Total assets 431,221   409,622
Investments in unconsolidated joint ventures:      
Total liabilities 330,230   329,145
Revenues of unconsolidated joint ventures:      
Minimum rents 15,497 15,340  
Percentage rents 566 400  
Tenant recoveries 11,024 10,815  
Other 918 677  
Total revenues 28,005 27,232  
Expenses of unconsolidated joint ventures:      
Shopping center and operating expenses 8,482 8,514  
Interest expense 2,240 3,021  
Depreciation and amortization 4,430 5,076  
Total operating expenses 15,152 16,611  
Net income 12,853 10,621  
Company's equity in net income 4,877 4,047  
Other Joint Ventures
      
Revenues of unconsolidated joint ventures:      
Minimum rents 60,961 90,105  
Percentage rents 1,302 3,290  
Tenant recoveries 27,212 42,412  
Other 7,413 8,580  
Total revenues 96,888 144,387  
Expenses of unconsolidated joint ventures:      
Shopping center and operating expenses 36,171 55,923  
Interest expense 24,117 39,123  
Depreciation and amortization 21,821 31,053  
Total operating expenses 82,109 126,099  
Gain (loss) on sale or distribution of assets (190) 22,990  
Net income 14,589 41,278  
Company's equity in net income $ 7,547 $ 20,761