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Mortgage Notes Payable: (Tables) | 6 Months Ended
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Jun. 30, 2014
Debt Disclosure [Abstract] |
Mortgage notes payable | Mortgage notes payable at June 30, 2014 and December 31, 2013 consist of the following:
|  | Carrying Amount of Mortgage Notes(1) |  |  |  |  |  |
|  | June 30, 2014 |  | December 31, 2013 |  |  |  |  |  |
Property Pledged as Collateral |  | Related Party |  | Other |  | Related Party |  | Other |  | Effective Interest Rate(2) |  | Monthly Debt Service(3) |  | Maturity Date(4)
Arrowhead Towne Center |  | $ | — |  |  | $ | 232,388 |  |  | $ | — |  |  | $ | 236,028 |  |  | 2.76 | % |  | $ | 1,131 |  |  | 2018
Camelback Colonnade |  | — |  |  | 48,529 |  |  | — |  |  | 49,120 |  |  | 2.16 | % |  | 178 |  |  | 2015
Chandler Fashion Center(5) |  | — |  |  | 200,000 |  |  | — |  |  | 200,000 |  |  | 3.77 | % |  | 625 |  |  | 2019
Danbury Fair Mall |  | 115,712 |  |  | 115,712 |  |  | 117,120 |  |  | 117,120 |  |  | 5.53 | % |  | 1,538 |  |  | 2020
Deptford Mall |  | — |  |  | 199,726 |  |  | — |  |  | 201,622 |  |  | 3.76 | % |  | 947 |  |  | 2023
Deptford Mall |  | — |  |  | 14,419 |  |  | — |  |  | 14,551 |  |  | 6.46 | % |  | 101 |  |  | 2016
Eastland Mall |  | — |  |  | 168,000 |  |  | — |  |  | 168,000 |  |  | 5.79 | % |  | 811 |  |  | 2016
Fashion Outlets of Chicago(6) |  | — |  |  | 113,040 |  |  | — |  |  | 91,383 |  |  | 2.95 | % |  | 233 |  |  | 2017
Fashion Outlets of Niagara Falls USA |  | — |  |  | 122,706 |  |  | — |  |  | 124,030 |  |  | 4.89 | % |  | 727 |  |  | 2020
Flagstaff Mall |  | — |  |  | 37,000 |  |  | — |  |  | 37,000 |  |  | 5.03 | % |  | 151 |  |  | 2015
FlatIron Crossing |  | — |  |  | 264,778 |  |  | — |  |  | 268,000 |  |  | 3.90 | % |  | 1,393 |  |  | 2021
Freehold Raceway Mall(5) |  | — |  |  | 231,255 |  |  | — |  |  | 232,900 |  |  | 4.20 | % |  | 805 |  |  | 2018
Fresno Fashion Fair |  | 78,754 |  |  | 78,753 |  |  | 79,391 |  |  | 79,390 |  |  | 6.76 | % |  | 1,104 |  |  | 2015
Great Northern Mall(7) |  | — |  |  | 34,993 |  |  | — |  |  | 35,484 |  |  | 6.54 | % |  | 234 |  |  | 2015
Green Acres Mall |  | — |  |  | 316,694 |  |  | — |  |  | 319,850 |  |  | 3.61 | % |  | 1,447 |  |  | 2021
Kings Plaza Shopping Center |  | — |  |  | 485,674 |  |  | — |  |  | 490,548 |  |  | 3.67 | % |  | 2,229 |  |  | 2019
Northgate Mall(8) |  | — |  |  | 64,000 |  |  | — |  |  | 64,000 |  |  | 3.03 | % |  | 128 |  |  | 2017
Oaks, The |  | — |  |  | 212,239 |  |  | — |  |  | 214,239 |  |  | 4.14 | % |  | 1,064 |  |  | 2022
Pacific View |  | — |  |  | 134,531 |  |  | — |  |  | 135,835 |  |  | 4.08 | % |  | 668 |  |  | 2022
Santa Monica Place |  | — |  |  | 232,904 |  |  | — |  |  | 235,445 |  |  | 2.99 | % |  | 1,004 |  |  | 2018
SanTan Village Regional Center |  | — |  |  | 135,222 |  |  | — |  |  | 136,629 |  |  | 3.14 | % |  | 589 |  |  | 2019
South Plains Mall(9) |  | — |  |  | 72,089 |  |  | — |  |  | 99,833 |  |  | 4.78 | % |  | 383 |  |  | 2015
Superstition Springs Center |  | — |  |  | 68,237 |  |  | — |  |  | 68,395 |  |  | 1.98 | % |  | 138 |  |  | 2016
Towne Mall |  | — |  |  | 22,802 |  |  | — |  |  | 22,996 |  |  | 4.48 | % |  | 117 |  |  | 2022
Tucson La Encantada |  | 72,192 |  |  | — |  |  | 72,870 |  |  | — |  |  | 4.23 | % |  | 368 |  |  | 2022
Valley Mall |  | — |  |  | 41,765 |  |  | — |  |  | 42,155 |  |  | 5.85 | % |  | 280 |  |  | 2016
Valley River Center |  | — |  |  | 120,000 |  |  | — |  |  | 120,000 |  |  | 5.59 | % |  | 558 |  |  | 2016
Victor Valley, Mall of(10) |  | — |  |  | 90,000 |  |  | — |  |  | 90,000 |  |  | 2.71 | % |  | 180 |  |  | 2014
Vintage Faire Mall |  | — |  |  | 98,370 |  |  | — |  |  | 99,083 |  |  | 5.81 | % |  | 586 |  |  | 2015
Westside Pavilion |  | — |  |  | 150,905 |  |  | — |  |  | 152,173 |  |  | 4.49 | % |  | 783 |  |  | 2022
|  | $ | 266,658 |  |  | $ | 4,106,731 |  |  | $ | 269,381 |  |  | $ | 4,145,809 |  |  |  |  |  |  |  |  |
(1) | The mortgage notes payable balances include the unamortized debt premiums (discounts). Debt premiums (discounts) represent the excess (deficiency) of the fair value of debt over (under) the principal value of debt assumed in various acquisitions and are amortized into interest expense over the remaining term of the related debt in a manner that approximates the effective interest method.
Debt premiums (discounts) consist of the following:
Property Pledged as Collateral | June 30, 2014 |  | December 31, 2013
Arrowhead Towne Center | $ | 13,105 |  |  | $ | 14,642 |
Camelback Colonnade | 1,528 |  |  | 2,120 |
Deptford Mall | (11 | ) |  | (14 | )
Fashion Outlets of Niagara Falls USA | 5,878 |  |  | 6,342 |
Superstition Springs Center | 737 |  |  | 895 |
Valley Mall | (175 | ) |  | (219 | )
| $ | 21,062 |  |  | $ | 23,766 |
(2) | The interest rate disclosed represents the effective interest rate, including the debt premiums (discounts) and deferred finance costs.
(3) | The monthly debt service represents the payment of principal and interest.
(4) | The maturity date assumes that all extension options are fully exercised and that the Company does not opt to refinance the debt prior to these dates. These extension options are at the Company's discretion, subject to certain conditions, which the Company believes will be met.
(5) | A 49.9% interest in the loan has been assumed by a third party in connection with a co-venture arrangement (See Note 10—Co-Venture Arrangement).
(6) | The construction loan on the property allows for borrowings of up to $140,000, bears interest at LIBOR plus 2.50% and matures on March 5, 2017, including extension options. At June 30, 2014 and December 31, 2013, the total interest rate was 2.95% and 2.96%, respectively.
(7) | On March 24, 2014, the loan was extended to January 1, 2015.
(8) | The loan bears interest at LIBOR plus 2.25% and matures on March 1, 2017. At June 30, 2014 and December 31, 2013, the total interest rate was 3.03% and 3.04%, respectively.
(9) | On February 7, 2014, the Company paid off in full one of the two loans on the property, which resulted in a loss of $358 on the early extinguishment of debt.
(10) | The loan bears interest at LIBOR plus 2.25% and matures on November 6, 2014. At June 30, 2014 and December 31, 2013, the total interest rate was 2.71% and 2.73%, respectively.
Debt premiums (discounts) on mortgage notes payable | Debt premiums (discounts) consist of the following:
Property Pledged as Collateral | June 30, 2014 |  | December 31, 2013
Arrowhead Towne Center | $ | 13,105 |  |  | $ | 14,642 |
Camelback Colonnade | 1,528 |  |  | 2,120 |
Deptford Mall | (11 | ) |  | (14 | )
Fashion Outlets of Niagara Falls USA | 5,878 |  |  | 6,342 |
Superstition Springs Center | 737 |  |  | 895 |
Valley Mall | (175 | ) |  | (219 | )
| $ | 21,062 |  |  | $ | 23,766 |

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- Definition Tabular disclosure of details related to mortgage notes payable by the entity, including properties which are pledged as collateral, carrying amounts, maturities and interest rates. + References No definition available. + Details
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