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Mortgage Notes Payable - Footnotes (Details) (USD $) | 3 Months Ended | 9 Months Ended |  | 9 Months Ended |  | 9 Months Ended |  | 0 Months Ended |  | 0 Months Ended |  | 0 Months Ended
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Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2014 Fashion Outlets of Chicago | Dec. 31, 2013 Fashion Outlets of Chicago | Sep. 30, 2014 The Mall at Northgate | Dec. 31, 2013 The Mall at Northgate | Feb. 07, 2014 South Plains Mall | Sep. 30, 2014 South Plains Mall | Aug. 28, 2014 Mall of Victor Valley | Sep. 30, 2014 Mall of Victor Valley | Sep. 30, 2009 Freehold Raceway Mall and Chandler Fashion Center
Mortgage loans payable on real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Percentage of loan assumed by third party (as a percent) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 49.90%
Amount of additional borrowing |  |  |  |  |  | $ 140,000,000 |  |  |  |  |  |  |  |  |  |  |  |
Interest rate basis |  |  |  |  |  | LIBOR |  |  | LIBOR |  |  |  |  |  |  |  |  |
Interest rate spread over basis (as a percent) |  |  |  |  |  | 2.50% |  |  | 2.25% |  |  |  |  |  |  |  |  |
Effective interest rate (as a percent) |  |  |  |  |  | 2.95% | [1],[2] | 2.96% | 3.03% | [1],[3] | 3.04% |  | 4.78% | [1],[4] |  | 4.00% | [1],[5] |
Loss on extinguishment of debt | (46,000) | (6,000) | (405,000) | 1,938,000 |  |  |  |  |  |  |  | 359,000 |  |  | 46,000 |  |  |
Mortgage notes payable which could become recourse | 72,175,000 |  | 72,175,000 |  | 77,192,000 |  |  |  |  |  |  |  |  |  |  |  |  |
Period of loan maturities expected to be refinanced, restructured, extended or paid-off |  |  | 12 months |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense capitalized | 3,930,000 | 2,887,000 | 9,513,000 | 8,227,000 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fair value of mortgage notes payable | $ 4,452,658,000 |  | $ 4,452,658,000 |  | $ 4,500,177,000 |  |  |  |  |  |  |  |  |  |  |  |  |
[1] | The interest rate disclosed represents the effective interest rate, including the debt premiums (discounts) and deferred finance costs.
[2] | 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 September 30, 2014 and December 31, 2013, the total interest rate was 2.95% and 2.96%, respectively.
[3] | The loan bears interest at LIBOR plus 2.25% and matures on March 1, 2017. At September 30, 2014 and December 31, 2013, the total interest rate was 3.03% and 3.04%, respectively.
[4] | On February 7, 2014, the Company paid off in full one of the two loans on the property, which resulted in a loss of $359 on the early extinguishment of debt.
[5] | On August 28, 2014, the Company replaced the existing loan on the property with a new loan that bears interest at an effective interest rate of 4.00% and matures on September 1, 2024. The replacement of the existing loan resulted in a loss of $46 on the early extinguishment of debt.

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