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Acquisitions: (Tables) | 9 Months Ended
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Sep. 30, 2013
Business Combinations [Abstract] |
Schedule of recognized identified assets acquired and liabilities assumed | The following is a summary of the allocation of the fair value of 500 North Michigan Avenue:
Property | $ | 66,033 |
Deferred charges | 7,450 |
Other assets | 2,143 |
Total assets acquired | 75,626 |
Other accrued liabilities | 4,701 |
Total liabilities assumed | 4,701 |
Fair value of acquired net assets | $ | 70,925 |
The following is a summary of the allocation of the fair value of Camelback Colonnade:
Property | $ | 98,160 |
Deferred charges | 8,284 |
Cash and cash equivalents | 1,280 |
Restricted cash | 1,139 |
Tenant receivables | 615 |
Other assets | 380 |
Total assets acquired | 109,858 |
Mortgage note payable | 49,465 |
Accounts payable | 54 |
Other accrued liabilities | 4,752 |
Total liabilities assumed | 54,271 |
Fair value of acquired net assets (at 100% ownership) | $ | 55,587 |
The following is a summary of the allocation of the fair value of Green Acres Mall:
Property | $ | 477,673 |
Deferred charges | 45,130 |
Other assets | 19,125 |
Total assets acquired | 541,928 |
Other accrued liabilities | 41,928 |
Total liabilities assumed | 41,928 |
Fair value of acquired net assets | $ | 500,000 |
The following is a summary of the allocation of the fair value of Kings Plaza Shopping Center:
Property | $ | 714,589 |
Deferred charges | 37,371 |
Other assets | 29,282 |
Total assets acquired | 781,242 |
Other accrued liabilities | 25,242 |
Total liabilities assumed | 25,242 |
Fair value of acquired net assets | $ | 756,000 |
The following is a summary of the allocation of the fair value of Arrowhead Towne Center:
Property | $ | 423,349 |
Deferred charges | 31,500 |
Restricted cash | 4,009 |
Tenant receivables | 926 |
Other assets | 4,234 |
Total assets acquired | 464,018 |
Mortgage note payable | 244,403 |
Accounts payable | 815 |
Other accrued liabilities | 10,449 |
Total liabilities assumed | 255,667 |
Fair value of acquired net assets (at 100% ownership) | $ | 208,351 |
The following is a summary of the allocation of the fair value of FlatIron Crossing:
Property | $ | 443,391 |
Deferred charges | 25,251 |
Cash and cash equivalents | 3,856 |
Other assets | 2,101 |
Total assets acquired | 474,599 |
Mortgage note payable | 175,720 |
Accounts payable | 366 |
Other accrued liabilities | 11,071 |
Total liabilities assumed | 187,157 |
Fair value of acquired net assets (at 100% ownership) | $ | 287,442 |
Schedule of reconciliation of the purchase price to the fair value of the acquired net assets | The following is the reconciliation of the purchase price to the fair value of the acquired net assets:
Purchase price | $ | 310,397 |
Less debt assumed | (114,497 | )
Carrying value of investment | 33,382 |
Remeasurement gain | 84,227 |
Less prior gain deferral | (26,067 | )
Fair value of acquired net assets (at 100% ownership) | $ | 287,442 |
The following is the reconciliation of the purchase price to the fair value of the acquired net assets:
Purchase price | $ | 144,400 |
Less debt assumed | (75,375 | )
Carrying value of investment | 23,597 |
Remeasurement gain | 115,729 |
Fair value of acquired net assets (at 100% ownership) | $ | 208,351 |
Summary of gain on remeasurement of existing investment | The Company determined that the purchase price represented the fair value of the additional ownership interest in FlatIron Crossing that was acquired.
Fair value of existing ownership interest (at 25% ownership) | $ | 91,542 |
Carrying value of investment | (33,382 | )
Prior gain deferral recognized | 26,067 |
Gain on remeasurement | $ | 84,227 |
The Company determined that the purchase price represented the fair value of the additional ownership interest in Arrowhead Towne Center that was acquired.
Fair value of existing ownership interest (at 66.7% ownership) | $ | 139,326 |
Carrying value of investment | (23,597 | )
Gain on remeasurement | $ | 115,729 |
The Company recognized the following remeasurement gain on the Camelback Colonnade Restructuring:
Fair value of existing ownership interest (at 73.2% ownership) | $ | 41,690 |
Carrying value of investment | (5,349 | )
Gain on remeasurement | $ | 36,341 |
Schedule of pro forma total revenue and income from continuing operations | The following unaudited pro forma financial information for the three and nine months ended September 30, 2013 and 2012 assumes all of the above transactions took place on January 1, 2012:
| Total revenues (1) |  | Income from continuing operations (1)
Supplemental pro forma information for the three months ended September 30, 2013 | $ | 269,098 |  |  | $ | 43,063 |
Supplemental pro forma information for the three months ended September 30, 2012 | $ | 258,906 |  |  | $ | 43,223 |
Supplemental pro forma information for the nine months ended September 30, 2013 | $ | 767,733 |  |  | $ | 153,151 |
Supplemental pro forma information for the nine months ended September 30, 2012 | $ | 758,130 |  |  | $ | 96,703 |
(1) | This unaudited pro forma supplemental information does not purport to be indicative of what the Company's operating results would have been had these transactions occurred on January 1, 2012, and may not be indicative of future operating results. The Company has excluded remeasurement gains and acquisition costs from these pro forma results as they are considered significant non-recurring adjustments directly attributable to these transactions.

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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6910749&loc=d3e4845-128472 + Details
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