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Acquisitions: (Tables) | 9 Months Ended
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Sep. 30, 2014
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 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 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 |
The following is a summary of the allocation of the fair value of Cascade Mall:
Property | $ | 28,924 |
Deferred charges | 6,660 |
Other assets | 202 |
Total assets acquired | 35,786 |
Other accrued liabilities | 4,786 |
Total liabilities assumed | 4,786 |
Fair value of acquired net assets (at 100% ownership) | $ | 31,000 |
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 |
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 | $ | 46,162 |
Less debt assumed | (22,500 | )
Carrying value of investment | 32,476 |
Remeasurement gain | 14,864 |
Fair value of acquired net assets (at 100% ownership) | $ | 71,002 |
Summary of gain on remeasurement of existing investment | The following is the reconciliation of the purchase price to the fair value of the acquired net assets:
Purchase price | $ | 15,233 |
Carrying value of investment | 15,767 |
Fair value of acquired net assets (at 100% ownership) | $ | 31,000 |
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 |
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, 2014 and 2013 assumes all of the above transactions took place on January 1, 2013:
| For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
| 2014 |  | 2013 |  | 2014 |  | 2013
Pro forma revenue (1) | $ | 263,492 |  |  | $ | 267,091 |  |  | $ | 785,038 |  |  | $ | 773,343 |
Pro forma income from continuing operations (1) | $ | 38,744 |  |  | $ | 13,492 |  |  | $ | 73,847 |  |  | $ | 122,976 |
(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, 2013, 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=39739317&loc=d3e4845-128472 + Details
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