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Acquisitions: (Tables)

12 Months Ended

Dec. 31, 2013

Schedule of pro forma total revenue and income continuing operations

The following unaudited pro forma total revenue and income from continuing operations for 2013 and 2012 assumes the 2012 and 2013 property acquisitions took place on January 1, 2012:



	Total revenue		Income from continuing operations
Supplemental pro forma for the year ended December 31, 2013(1)	$	1,056,075	$	108,417
Supplemental pro forma for the year ended December 31, 2012(1)	$	1,094,559	$	92,193

The following unaudited pro forma total revenue and income from continuing operations for 2013 and 2012 assumes the 2012 and 2013 property acquisitions took place on January 1, 2012:



	Total revenue		Income from continuing operations
Supplemental pro forma for the year ended December 31, 2013(1)	$	1,056,075	$	108,417
Supplemental pro forma for the year ended December 31, 2012(1)	$	1,094,559	$	92,193

(1)

This unaudited pro forma supplemental information does not purport to be indicative of what the Company's operating results would have been had the acquisitions 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 the acquisitions.

Desert Sky Mall

Acquisition

Schedule of recognized identified assets acquired and liabilities assumed

The following is a summary of the allocation of the fair value of Desert Sky Mall:



Property	$	46,603
Deferred charges	5,474
Cash and cash equivalents	6,057
Tenant receivables	202
Other assets	4,481
Total assets acquired	62,817
Mortgage note payable	51,500
Accounts payable	33
Other accrued liabilities	3,017
Total liabilities assumed	54,550
Fair value of acquired net assets (at 100% ownership)	$	8,267

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 Desert Sky Mall that was acquired. Accordingly, the Company also determined that the fair value of the acquired ownership interest in Desert Sky Mall equaled the fair value of the Company's existing ownership interest.



Fair value of existing ownership interest (at 50% ownership)	$	4,164
Carrying value of investment in Desert Sky Mall	(2,296		)
Gain on remeasurement	$	1,868

Fashion Outlets of Niagara

Acquisition

Schedule of recognized identified assets acquired and liabilities assumed

The following is a summary of the allocation of the fair value of the Fashion Outlets of Niagara Falls USA:



Property	$	228,720
Deferred charges	10,383
Restricted cash	5,367
Other assets	3,090
Total assets acquired	247,560
Mortgage note payable	130,006
Accounts payable	231
Other accrued liabilities	38,037
Total liabilities assumed	168,274
Fair value of acquired net assets	$	79,286

500 North Michigan Avenue:

Acquisition

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

FlatIron Crossing

Acquisition

Schedule of recognized identified assets acquired and liabilities assumed

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

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

Arrowhead Towne Center

Acquisition

Schedule of recognized identified assets acquired and liabilities assumed

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

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	$	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 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

Kings Plaza

Acquisition

Schedule of recognized identified assets acquired and liabilities assumed

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

Green Acres Mall

Acquisition

Schedule of recognized identified assets acquired and liabilities assumed

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

Camelback Colonnade

Acquisition

Schedule of recognized identified assets acquired and liabilities assumed

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

Summary of gain on remeasurement of existing investment

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

SDG Properties

Acquisition

Schedule of recognized identified assets acquired and liabilities assumed

The following is a summary of the allocation of the fair value of the SDG Acquisition Properties:



Property	$	371,344
Deferred charges	30,786
Tenant receivables	10,048
Other assets	32,826
Total assets acquired	445,004
Mortgage note payable	211,543
Accounts payable	10,416
Other accrued liabilities	18,578
Total liabilities assumed	240,537
Fair value of acquired net assets	$	204,467

Superstition Springs Land I

Acquisition

Schedule of recognized identified assets acquired and liabilities assumed

The following is a summary of the allocation of the fair value of Superstition Springs Center:



Property	$	114,373
Deferred charges	12,353
Cash and cash equivalents	8,894
Tenant receivables	51
Other assets	11,535
Total assets acquired	147,206
Mortgage note payable	68,448
Accounts payable	119
Other accrued liabilities	7,637
Total liabilities assumed	76,204
Fair value of acquired net assets (at 100% ownership)	$	71,002

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 Superstition Springs Center that was acquired.



Fair value of existing ownership interest (at 66.7% ownership)	$	47,340
Carrying value of investment	(32,476		)
Gain on remeasurement	$	14,864