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Acquisitions: (Tables) | 12 Months Ended
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Dec. 31, 2015
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 the PPR 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 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 |
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 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 |
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 |
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 |
The following is the reconciliation of the purchase price to the 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 |
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 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 |
Summary of gain on remeasurement of existing investment | The Company determined that the purchase price represented the fair value of the additional ownership interest in the PPR Queens Portfolio that was acquired.
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 |
The Company determined that the purchase price represented the fair value of the additional ownership interest in Inland Center that was acquired.
Fair value of existing ownership interest (at 50% ownership) | $ | 26,250 |
Carrying value of investment | (4,161 | )
Gain on remeasurement of assets | $ | 22,089 |
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 of assets | $ | 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 of assets | $ | 36,341 |
Schedule of pro forma total revenue and income continuing operations | The following unaudited pro forma total revenue and income from continuing operations for 2015 and 2014:
| Total revenue |  | Income from continuing operations
Supplemental pro forma for the year ended December 31, 2015(1) | $ | 1,287,084 |  |  | $ | 502,184 |
Supplemental pro forma for the year ended December 31, 2014(1) | $ | 1,371,988 |  |  | $ | 199,287 |
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(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 2015 and 2014 acquisitions 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 the acquisitions.

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