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Acquisitions: (Tables) | 6 Months Ended
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Jun. 30, 2015
Business Combinations [Abstract] |
Schedule of recognized identified assets acquired and liabilities assumed | The following is a summary of the preliminary allocation of the estimated fair value of the PPRLP Queens Portfolio:
Property | $ | 3,711,819 |
Deferred charges | 155,892 |
Cash and cash equivalents | 28,890 |
Restricted cash | 5,113 |
Tenant receivables | 5,438 |
Other assets | 127,244 |
Total assets acquired | 4,034,396 |
Mortgage notes payable | 1,414,659 |
Accounts payable | 5,669 |
Due to affiliates | 2,680 |
Other accrued liabilities | 230,210 |
Total liabilities assumed | 1,653,218 |
Fair value of acquired net assets (at 100% ownership) | $ | 2,381,178 |
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 preliminary allocation of the estimated fair value of Inland Center:
Property | $ | 91,871 |
Deferred charges | 9,752 |
Other assets | 5,782 |
Total assets acquired | 107,405 |
Mortgage note payable | 50,000 |
Other accrued liabilities | 4,905 |
Total liabilities assumed | 54,905 |
Fair value of acquired net assets (at 100% ownership) | $ | 52,500 |
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 | $ | 15,233 |
Distributions in excess of investment | 15,767 |
Fair value of acquired net assets (at 100% ownership) | $ | 31,000 |
The following is the reconciliation of the purchase price to the estimated fair value of the acquired net assets:
Purchase price | $ | 1,838,886 |
Less debt assumed | (672,109 | )
Distributions in excess of investment | (208,735 | )
Gain on remeasurement of assets | 1,423,136 |
Fair value of acquired net assets (at 100% ownership) | $ | 2,381,178 |
The following is the reconciliation of the purchase price to the estimated fair value of the acquired net assets:
Purchase price | $ | 51,250 |
Less debt assumed | (25,000 | )
Carrying value of investment | 4,161 |
Gain on remeasurement of assets | 22,089 |
Fair value of acquired net assets (at 100% ownership) | $ | 52,500 |
Summary of gain on remeasurement of existing investment |
Fair value of existing ownership interest (at 50% ownership) | $ | 26,250 |
Carrying value of investment | (4,161 | )
Gain on remeasurement of assets | $ | 22,089 |
Fair value of existing ownership interest (at 51% ownership) | $ | 1,214,401 |
Distributions in excess of investment | 208,735 |
Gain on remeasurement of assets | $ | 1,423,136 |
Schedule of pro forma total revenue and income from continuing operations | The following pro forma financial information for the three and six months ended June 30, 2015 and 2014 assumes all of the above transactions took place on January 1, 2014:
| For the Three Months Ended June 30, |  | For the Six Months Ended June 30,
| 2015 |  | 2014 |  | 2015 |  | 2014
Supplemental pro forma revenue(1) | $ | 322,794 |  |  | $ | 325,151 |  |  | $ | 642,311 |  |  | $ | 652,768 |
Supplemental pro forma income from continuing operations(1) | $ | 15,805 |  |  | $ | 21,485 |  |  | $ | 21,593 |  |  | $ | 40,846 |
(1) | This 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, 2014, 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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