XML 39 R75.htm IDEA: XBRL DOCUMENT v2.4.0.8
Acquisitions: (Details) (USD $)
0 Months Ended 12 Months Ended 0 Months Ended 12 Months Ended 0 Months Ended 12 Months Ended 0 Months Ended 0 Months Ended 3 Months Ended 0 Months Ended 3 Months Ended 0 Months Ended 8 Months Ended 12 Months Ended 0 Months Ended 12 Months Ended 0 Months Ended 2 Months Ended 0 Months Ended
Oct. 26, 2012
Jun. 03, 2011
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Feb. 28, 2011
Desert Sky Mall
sqft
Dec. 31, 2011
Desert Sky Mall
Jun. 03, 2011
Superstition Springs Land
Dec. 31, 2011
Superstition Springs Land
Jul. 22, 2011
Fashion Outlets of Niagara
sqft
Dec. 31, 2013
Fashion Outlets of Niagara
Dec. 31, 2011
SDG Properties
Apr. 29, 2011
Kohl's store at Capitola Mall
Feb. 29, 2012
500 North Michigan Avenue:
sqft
Oct. 03, 2012
FlatIron Crossing
sqft
Dec. 31, 2013
FlatIron Crossing
Dec. 31, 2012
FlatIron Crossing
Oct. 26, 2012
Arrowhead Towne Center
sqft
Dec. 31, 2013
Arrowhead Towne Center
Nov. 28, 2012
Kings Plaza
sqft
Jan. 31, 2013
Green Acres Mall
Jan. 24, 2013
Green Acres Mall
sqft
Sep. 30, 2013
Green Acres Mall
Dec. 31, 2012
Green Acres Mall
Apr. 25, 2013
Green Acres Adjacent
acre
Sep. 30, 2013
Camelback Colonnade
Sep. 17, 2013
Camelback Colonnade
Dec. 31, 2013
Camelback Colonnade
Oct. 24, 2013
Superstition Springs Land I
Dec. 31, 2013
Superstition Springs Land I
Jun. 03, 2011
Superstition Springs Land I
sqft
Oct. 24, 2013
Superstition Springs Land I
Sep. 17, 2013
Camelback Colonnade
Sep. 16, 2013
Camelback Colonnade
Sep. 17, 2013
Camelback Colonnade
sqft
Jan. 03, 2013
Kings Plaza Shopping Center
Acquisition                                                                        
Additional ownership interest (as a percent)           50.00% 50.00% 50.00%             75.00%   75.00% 33.30%                     33.30%       67.50%      
Property square footage           891,000       525,000       323,000 1,435,000     1,198,000   1,195,000   1,787,000     19           1,082,000       619,000  
Ownership Percentage           50.00%                                                       73.20%    
Fair value of existing ownership interest (as a percent)                                   66.70%                           33.30%   73.20%    
Purchase price on acquisition           $ 27,625,000       $ 200,000,000     $ 28,500,000 $ 70,925,000 $ 310,397,000     $ 144,400,000   $ 756,000,000   $ 500,000,000     $ 22,577,000       $ 46,162,000              
Purchase price funded by cash payment on acquisition           1,875,000       78,579,000         195,900,000     69,025,000   726,000,000                 23,662,000              
Debt assumed     257,064,000 420,123,000 192,566,000 25,750,000       121,421,000         114,497,000     75,375,000                     22,500,000              
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Notes Payable and Long-term Debt                   130,006,000                                                    
Loan paid off           51,500,000                                                            
Ownership percentage at completion of acquisition (as a percent)   100.00%       100.00%   100.00%       100.00%     100.00%     100.00%                         50.00%     100.00%    
Purchase price, balance remaining after deposit                                           470,000,000                            
Issuance restricted common stock                                       30,000,000                                
Placement of mortgage note on the property                                       354,000,000 225,000,000 100,000,000                           146,000,000
Deposits paid     0 30,000,000 0                                     30,000,000                        
Face amount of debt                                       500,000,000   325,000,000                            
Increase in purchase price due to contingent consideration, high end of range                   218,322,000                                                    
Fair value of contingent consideration                     17,491,000                                                  
Allocation of the fair value                                                                        
Property           46,603,000       228,720,000   371,344,000   66,033,000 443,391,000     423,349,000   714,589,000   477,673,000         98,160,000   114,373,000              
Restricted cash                   10,383,000   30,786,000           4,009,000                 1,139,000                  
Deferred charges           5,474,000       5,367,000       7,450,000 25,251,000     31,500,000   37,371,000   45,130,000         8,284,000   12,353,000              
Cash and cash equivalents           6,057,000                 3,856,000                       1,280,000   8,894,000              
Tenant receivables           202,000           10,048,000           926,000                 615,000   51,000              
Other assets           4,481,000       3,090,000   32,826,000   2,143,000 2,101,000     4,234,000   29,282,000   19,125,000         380,000   11,535,000              
Total assets acquired           62,817,000       247,560,000   445,004,000   75,626,000 474,599,000     464,018,000   781,242,000   541,928,000         109,858,000   147,206,000              
Mortgage note payable           51,500,000       130,006,000   211,543,000     175,720,000     244,403,000                 49,465,000   68,448,000              
Accounts payable           33,000       231,000   10,416,000     366,000     815,000                 54,000   119,000              
Other accrued liabilities           3,017,000       38,037,000   18,578,000   4,701,000 11,071,000     10,449,000   25,242,000   41,928,000         4,752,000   7,637,000              
Total liabilities assumed           54,550,000       168,274,000   240,537,000   4,701,000 187,157,000     255,667,000   25,242,000   41,928,000         54,271,000   76,204,000              
Fair value of acquired net assets (at 100% ownership)           8,267,000       79,286,000   204,467,000   70,925,000 287,442,000     208,351,000   756,000,000   500,000,000         55,587,000   71,002,000              
Business combination                                                                        
Fair value of existing ownership interest (at % ownership)           4,164,000   12,914,000             91,542,000     139,326,000                 41,690,000   47,340,000              
Carrying value of investment     (701,483,000) (974,258,000)   (2,296,000)                 (33,382,000)     (23,597,000)                 (5,349,000)   (32,476,000)              
Prior gain deferral recognized                             (26,067,000)                                          
Gain on remeasurement 115,729,000 1,734,000       1,868,000 1,868,000 1,734,000 1,734,000           84,227,000 84,227,000   115,729,000 115,729,000               36,341,000 36,341,000 14,864,000              
Incremental revenue generated from acquired property                                             65,958,000     3,540,000       3,666,000            
Incremental earnings (loss) of acquired property                                             824,000     384,000       1,062,000            
Pro forma information                                                                        
Revenue     1,056,075,000 [1] 1,094,559,000 [1]                                                                
Income from continuing operations     $ 108,417,000 [1] $ 92,193,000 [1]                                                                
[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.